Company Number:N1060479
Gl¢n Development Initiative
(A company limlted by guarantee)
Directors, report and finan¢lal statements
for the year endod 31 March 2024

Glen Development Initiative
(A company limited by guarantee)
Contents
Page
Inforniatioii
Directorfs Report
Indepeiident examiners, report
Statement of Financial Activities
Balaiice sli¢et
Not¢s to th¢ accounts
8-12

Glen Development Initiative
(A company limited by guarantee)
Information
Directors
Al¢x Patrick Dohety
Dennot O'Hara
Maeve M¢Laughlin
Sinead McQlinchey
Sebrina Wright
Maurice Joseph Bowe
Pat Joan McAnaney
Naomi Wright
Micliael Jolin Cooper
Sinead Elizabeth Murphy
Anna Dalton
Gerry Hamilton
Caroline M¢Guinness Brooks
Ciaran Quinn
(Resigned L9.08.24)
(Resigned 19.08.24)
(Appointed 19.08.24)
(Appointed 19.08.24)
(Appointed 19.08.24)
(Appointed 19.08.24)
Secretury
Alex Patrick Doherty
(Resigned 19.08.24)
Company No:
N1060479
Charity Iyo:
NIC101280
XR97898
Rcgistored offIce
Gl¢nview Community Centre
Cedar Street
Derry
BT48 OEG
Aceountunts
M¢Groarty Mccafferty & Company Ltd
Accountants & T￿. Consultants
2 Carlisle Terrace
Derry
BT48 6JX
Bankers
Ulster Bank
North West Business Centre
Culmore Road
Deny
BT48 8JB
Page I

Glen Development Initiative
(A company limited by guarantee)
Director's Report
The directors piesent their report and the financial statements for the year ended 31 March 2024.
Objectlves and actRvRtRes
Tlie coillpany is establish¢d to relieve sickness, help the aged and to promote the benefit of the inhabitants of
tlie Glen and city area of Co D¢rry and its environs by associating together the statutory authorities, voluntary
organisaiions and inliabitants in a common effort to enhance education and to provide facilities in the interest
of social welfare, for creation or other leisure time occupations with the object of improving tlie conditions of
life for the said inhabitants.
Directors and their Interests
Tlie directors of the cliarity for the purposes of charity law and throughout this report are collectively referred
to as the directors.
The directors serving during the year and since the year end were as follows:
Alex Patrick Doherty
Dermot O'Hara
Maeve McLuughlin
Sinead McGlinchey
Sebrina Wright
Maurice Joseph Bowe
Pat Joan McAnaney
Naomi Wright
Michael John Cooper
Siiiead Elizabeth Murpliy
Caroline McGuinn¢ss Brooks (Appoint¢d 19.08.24)
(Resigned 19.08.24)
Anna Dalton
(Appointed 19.08.24)
Gery l.lamilton (Appointed 19.08.24)
Ciaran Quinn
(Appoint¢d 19.08.24)
(Resigned 19.08.24)
Govcrnlng Do¢um¢nt
The organisation is a company ivitli charitable status. The entity was formed on 19th August 2002 and
incorporated on I l August 2006. Tlie coinpany was established under Memorandum & Articles of
Association whicli outlined the area of benefit and the objects of the charitable organisation.
Rlsk Management
Tlie directors have a risk management strategy which consists of establishing a system of identifying risks and
Initigating such risks.
Results & Performance
The results and perfomance for the year of Glen Development Initiative are summarised in tlie enclosed
accounts.
Flnancllll revlew
The financial perfomiance is summarised in the enclosed a¢counts.
Page 2

Glen Development Initiative
(A company limited by guarantee)
Directors Report
.continued
Directors Responsibilities In Relation To The Financial Statements
The Directors of Glen Development Initiative for the purposes of company law are responsible for preparing
the Directors, Annual report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards ( United Kingdom Generally Accepted Accounting Practice).
Coinpany law requires the directors to prepare financial statements for each financial year that give a true and
fair vicw of the stale of tlie affairs of the charity at the end of the financial year and of its surplus or deficit for
tlie financial year. In doing 50 the directors are required to:
select suitable accounting policies and apply them consistently>
observe methods and principles in the Charities SORP (FRS102);
make judgements and estimates that are reasonable and prudent;
state wliether applicable UK Accounting Standards have been followed, subject to any material departures
disclosed and explained in tlie financial statements;
prepare tlie financial statements on the going concern basis unless it is inappropriate to presume tliat the
cliarity will continue In business.
Tlie directors are responsible for maintaining proper accounting records wliicli disclose witli reasonable
accuracy at any time tlie financial position of the charity and enables iliem to ensure tliat the financial
stateinents comply with the Companies Act 2006. The directors are also responsible for safeguarding tlie
assets of the cliarity and hence for taking reasonable steps for the prevention and detection of fraud and other
irregiilaritics.
In so far as tlie direclors are aware:
tl)ere is no relevant infom]ation of whi¢h the company's independent examiner is unaware, and
tli¢ dir¢¢tors liavc taken all the st¢ps that they ought to have takeii to mak¢ themselves aware of any relevant
audit information and to establish that the independent examiner is aware of that inforn]ation.
A resolution will be proposed at the Annual General Meeting that McGroarty Mc Cafferty & Company Ltd be
re-appointed as a¢¢ountants for the charity for tlie ensuing year.
Tliis report is prepared in accordance with the special provisions of part 15 of the Companies Act 2006
relating to small companies.
This report was approved and authorised for issue by the Board on 8 October 2024 and signed on its belialf
Director
Director
Page 3

Glen Development Initiative
(A company limited by guarantee)
Independent Examiner's Report to the charity committee n)embers of
Glen Dev¢lopn)ent Initiative
We report on the accounts of the charity for the year ended 31 March 2024 , which are set out on pages 5 - 12.
Respectlve responsibilities of charity commltteo mombers and examiner
A5 the charity's meinbers you are responsible for the preparation of the accounts in accordance with the
Charities Act (Nortliem Ireland) 2008.
It is our responsibility to:
examine the accounts under Section 65 of the Chariti¢5 Act;
follow the procedures laid down in thc general Directions given by the Commission under Section 65(9) (b)
of the Charities Act.
state wliether particular matters liave come to our attention.
Basis of Indepcndont Exaniiner's Report
We have examined your charity accounts as required under Section 65 of the Charities Aet and our
examination was carried out in accordance with the general Directions given by th¢ Charity Commission for
Northern Ireland under Section 65 (9)(b) of the Charities Act.
Our examination includcd a review of the accounting records kept by the charity and a comparison of thc
accounts presented with those records. It also included considerations of any unusual items or disclosures in
thc accounts, and seeking explanation from you as cliarity members conceming any sucli matters.
Our role is to slate whether any material matters have come to our attention giving us cause to b¢li¢ve:
l. That accounting records were not kept in accordance with Section 63 of tlie Charities Act.
2. That the accounts do not accord witli those ac¢ouiiting records.
3. Tliat the accouiils do not comply with the accounting requirements of the Charities Act.
4. Tliat there is furtlier infonnation needed for a proper uiiderstanding of the accounts to be reached.
Indcpendont Examiner's Statement
As ilie cliarity's gTross incoine exceeded £250,000 the examiner must be a member of a listed body. We can
confirni tlial we are qualified to undertake tlie examination as we are a registered member of Cliartered
Accountants Irelaiid wliich is one of tlie listed bodies.
We have completed our examination and have no concerns in respect of the matters l 4 listed above and, in
connection witli the following Directions of the Charity Commission Northern Ireland. we have found no
matters that require drawing to your attention.
Mccroarty Mccafferty & Company Ltd
Accountants and Tax Consultants
2 Carlisle Terrace
Derry
N Ireland
BT48 6JX
Date: 8 October 2024
Page 4

Glen Development Initiative
(A company limited by guarantee)
Statement of Financial Activitios
for tho year onded 31 March 2024
Unrestricted
Funds
Restricted
Funds
2024
2023
Income and li xpenditure
Incoming Resources
Graiits & Sundry Income
34,998
331,383
366,38l
370,893
Total Incoming Resources
34,998
331,383
366,381
370,893
Resources Expended
Management & Administration
27,217
331,383
358,600
352,904
Total Resources Ei xpended
27,217
331,383
358,600
352,904
Net Incomlng l (Outgoing) Resources
7,781
7,781
17,989
Balances brouglit forward l April 2023
28,483
28,483
10,494
Balance5 carried forward 31 March 2024
36,264
36,264
28,483
The above amouiits relate to continuing operations of tlie coinpany.
The company lias no recognised gains and losses other than those included in the results above and therefore
no separate slateinent of total recognised gains and losses has been presented. There is no ditTerence between
the net incoming resource5 for the year stated above and their historical cost equivalents.
Page 5

Glen Development Initiative
(A company limited by guarantee)
Balance sheet
as at 31 March 2024
2024
2023
Notes
Current assot$
Debtors
Casli at baiik and in hand
30,790
59,397
41,180
4,894
90,187
46,074
Current liabilitios
Otlier creditors
Accruals
48,790
5,133
15,408
2,183
53,923
17,591
Net current Assets
36,264
28,483
Total assets less current
36,264
28,483
Rcserves
Unrestricted
Rcstrictcd
36,264
28,483
10.
36,264
28,483
Page 6

Glen Development Initiative
(A company limited by guarantee)
Balance sh¢et (Continued)
Dlrectors, statements required by Sections 475(2) and (3)
for the year ended 31 March 2024
Iii approving these financial stateinents as directors of the company we hereby confinn:
The company was eiititled to exemption from audit under s477 of the Companies Act 2006 relating to small
companies.
The members liave not required the company to obtain an audit in accordance with section 476 of the
Compaiiies Act 2006.
The directors acknowledge their responsibilities for coinplying with the requirements of the Companies Act
2006 witli respect to accouiiting records and preparation of accounts.
These accounts liave been prepared in accordance with the provisions applicable to small companies subject to
the small companies regime and in accordance with FRSI 02 SORP.
The accounts have been approved and authorised for Issue by tlie board on 8 October 2024.
Dlrector
Director
MAuQicG
O, +L4Wq
Reglstratlon No: N1060479
Page 7

Glen Development Initiative
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
General information
The company is a private company limited by guarantee, registered in Northern Ireland. The address of
tlie registered o￿lCe is Glenview Community Centre, Cedar Street, Derry? BT48 OEG.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by
Charities: Stateinent of Recommended Practice applicable to charities preparing their accounts in
accordance with the financial Reporting Standard applicable in the UK and Republic of Ireland
Cliaritie5 SORP (fRS 102), Companies Act 2006 and Cliarities Act (Northern Ireland) 2008.
Income
(i) Grants
Grants represents all ainounts received and receivable during the year.
Capital grants are released to the profit and loss account in the yellr in which tliey are re¢eived in
liiie with the SORP Accountiiig & Reporting by Charties.
Revenue grants are credited to Ilie Statement of Financial Activities in the year they are received.
(li) Donalions & administration income.
This comprises amounts received during the year.
Expcnditure
(i) Direct Charitable Expenditure
This represents all expenditure directly attributable to charitable Causes.
(li) Management & Administration
This includes all other expenditure not directly allocated above and a portion of the overhead costs
attributable to management and administration.
Page 8

Glen Development Initiative
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
llleomc
2024
2023
Rcstrieted Ineome
Department for Communities
Derry City & Strabane Council
Education Authority
PHA
Halifax
Nl Housing Executive
NHIP
BIG Lottery Fund
StarbuckslHubbab
Dormant Accounts Fund Nl
Communniiy Restorative Justice
Positive Ageing Sinall Grants
BHCP Community Garden
Success North West
Skills 2020
108,524
10,837
48,176
1,956
3,684
99,494
37,487
82,696
5,347
1,650
2,974
1,885
17,862
774
57,098
2,100
29,175
13,916
500
500
54,143
55,023
331,383
304,418
Unrestricted Income
Other incoille Unrestricted
34,998
66,475
34,998
66,475
TotAI In¢on)e
366,381
370,893
(i)
Restrlcted Funds
Funds received wliicli are eannarked by the Funder for specific purposes. Such purposes are within the
overall aiins of the organisation.
(li) Unrestrlctcd Funds
Fuiids whicli are expendable at the discretion of ilie company in furtherance of the aims of the charity.
In addition funds may be held in order to finance capital investment and working capital.
Page 9

Glen Development Initiative
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
Resources Expendcd
Unrestricted
Funds
Restrlcted
Funds
Total
2024
Total
2023
Managemcnt & Administration
Wages & salaries
Staff pension costs
DCSDC expenses
DFC - Expeiises
CRJ expenses
Halifax expenses
Awards for All Expenses
Positive Ageing expenses
Programme expenses
Loltery fund
NHIP Expenses
EA Expenses
Nl Housing Execulive Expenses
PHA expenses
Party People expenses
Starbucks/Hubbub expenses
BHCP Comm Garden expenses
Motor Running
Running expcnses
Printing,poslage & stationery
Repairs & maintenance
Software costs
Sundry expenses
Accountancy
Insurance
Bank Charges
1,703
176
191,654
10,980
9,934
15,399
13,916
193,357
11,156
9,934
15,399
13,916
209,879
9,360
35,490
8,706
2,100
85
491
18,978
57,098
774
4.910
491
39,931
57,098
774
4,910
20,953
21,453
17,474
1,619
30,227
2,176
5,347
86
1,956
800
2,100
500
1,956
800
2,100
500
1,091
2,028
16
2,121
245
2,508
2,508
31
,123
31
1,123
1,893
723
1,977
763
660
1,893
723
27,217
331,383
358,600
352,904
TaxAtlon
No charge to taxation is due as the company has cliaritable status.
Page 10

Glen Development Initiative
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
Staff note
Tlie average nuinber of persons employed by tlie company during the year amounted to 12
(2023: 12).
The aggregate payroll costs incurred during the year were:
2024
2023
Wages and salaries
Pension contributions
193,357 209,879
11,156
9,360
204,513 219,239
Debtors
2024
2023
Grants due
Ollier debtors
12,323
18,467
26,190
14,990
30.790
41,180
Current liabilities
2024
2023
T￿e$ and social security costs
Deferred income
Accruals
4,315
44,475
5,133
15,408
2,183
53,923
17,591
Page 11

Glen Development Inltiative
(A company limited by guarantee)
Notes to the accounts
for the ycar ended 31 March 2024
10.
Movements in Funds
At
At
l April Incoming Outgoing 31 March
2023 resources resources
2024
Rcstrietcd funds:
Total restricted funds
331,383 (331,383)
Unrestricted funds:
Total unrestricted funds
28,483
34,998
(27,217)
36,264
28,483 366,381 (358,600)
36,264
Purposes of Restricted Funds
Restricted grants awarded to th¢ cliarity is provided to cover the core objects as explained in directors
report.
11.
Related Party Transactions
There were no related party transactions in the year under review.
12.
Limited by Guarantee
Tlie company is limited by guarantee and does not have a share capital.
13. Post Balance Sheet evont$
No significant events have taken place since tlie year end tliat would result in adjustments to 2024
financial infomiation or inclusion of a note thereto.
Page 12