Company Number:N1060479 Glen Development Initiative (A company limited by guarantee) Directors, report and financlal statements for the year ended 31 March 2025
Glen Development Inltiative (A company limited by guarantee) Contents Page Inforn]ation Director's Report Independent examiners, report Statement of Financial Activities Balance sheet Notes to the accounts 8-12
Glen Development Initiative (A company limited by guarantee) Inforniation Directors Alex Patrick Doherty Derniot O'Hara Maeve McLaughlin Sinead McGlinchey Sebrina Wright Mauricc Joseph Bowe Pat Joan McAnaney Naomi Wright Michael John Cooper Sinead Elizabeth Murphy Anna Dalton Gerry Hamilton Caroline McGuinness Brooks Ciaran Quinn (Resigned 19.08.24) (Reslgned 19.08.24) (Appointed 19.08.24) (Appointed 19.08.24) (Appointed 19.08.24) (Appointed 19.08.24) Secretary Alex Patrick Doherty (Resigned 19.08 ?4) Company No: N1060479 Charity No: NIC101280 XR97898 Registered office Glenview Community Centre Cedar Street Derry BT48 OEG Accountants McGroarty Mccafferty & Company Ltd Accountants & Tax Consultants 2 Carlisle Terrace Derry BT48 6JX Bankers Ulster Bank North West Business Cent Culmore Road De BT48 8JB Page I
Glen Development Initiative (A company limfited by guarantee) Director's Report The directors present their report and the financial sthtements for the year ended 31 March 2025. Objectives and activities The company is established to relieve sickness, help the aged and to promote the benefit of the inhabitants of the Glen and city area of Co Derry and its environs by associating together the statutory authorities, voluntary organisations and inhabitants 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 irnproving the conditions of life for the said inhabitants. Directors and their interests The directors of the charity fur the purposes of chariry law and Ihroughoul 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 Dennot O'Hara Maeve McLaughlin Sinead McGlin¢hey Sebrina Wright Maurice Joseph Bowe Pat Joan McAnaney Naomi Wright Michael John Cooper Sinead Elizabeth Murphy Caroline McGuinness Brooks (Appointed 19.08.24) (Resigned 19.08.24) Anna Dalton (Appointed 19.08.24) Gerry Hamilton (Appointed 19.08.24) Ciaran Quinn (Appointed 19.08.24) (Resigned 19.08.24) Governing Document The organisation is a company with charitable status. The enrity was formed on 19th August ?(X)2 and incorporated on 11 August 2006. The company was established under Meniorandum & Articles of Association which outlined the area of benefit and the objects of the charitable organisation. Rlsk Management The directors have a risk management strategy which consists of establishing a system of identifying risks and mitigating such risks. Results & Performance The results and perforniancc for the year of Glen Development Initiative are summarised in the enclosed accounts. Financial review The financial performance is summarised in the enclosed accounts. 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 slatements in accordance with applicable law and United Kingdom Accounting Standards ( United Kingdom Generally Accepied Accounting Practice). Company law requires the directors to prepare financial 5talements for each financial year that give a true and fair view of the State of the affairs of the charity a( the end of the financial year and ot its surplus or deficit for the financial year. In doing so the directors are required to: seleci suitable accounting policie5 and apply them consistently; - observe methods and principles in the Charities SORP (FRS102)' make judgements and estimates that are reasonable and prudent; slate whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in ihe financial statements. prcpiire thc financial statements on the going concern basis unEess it is inappropriate to presume that the charity will continue in business. The directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy al any time the financial position of the charity and enables them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible tor safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the directors aTC aware: there is no relevani information of which the company's independent examiner is unaware, and the directors have taken all the steps thai they ought to have taken to make themselves aware of any relevani audit information and to establish that the independent exarniner is awiire of thai inforniation. A resolution will be proposed at the Annual General Mccting that McGroarty Mc Caffcrty & Company Ltd be re-appointed as accountants for the charity for the ensuing year. This 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 5 November 2025 and signed on its behalf by Director Director Page 3
Glen Development Initiative (A company limited by guarantee) Independent Examiner's Report to the charity committee members of Glen Development Initiative We report on the accounts of the charity for Ihe year ended 31 March 2025 , which are set oul on pages 5 - 12. Respective responsibilities of charity committee members and examiner A% the charity's members you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. It is our responsibility to., examine the accounts under Section 65 of the Charities Act; follow the procedureb laid down in the general Directions given by the Commission under Section 65(9) (b) of the Chariries Act: state whether particular matters have come to our attention. Basis of Independent Examiner's Report We have examined your charity accounts as required under Section 65 of the Charities Act and our examination was caThted out in accordance wilh the general Directions given by the Charity Commission for Northern Ireland under Section 65 (9)(b) of the Charities Act. Our examination included a review of thc dccounting records kept by the charity and a comparison of the accounts presented with tho.se record8. It also included consideration% ot any unusual items or disclosures in the accounts, and secking explanation from you as ChltY members conccrning any such mattcrs. Our rol¢ is Io Slate whether any material matters have come to our altention giving us cause to believe: l. That accounting record.s were not kept in accordance with Section 63 of the Charitie5 Act. 2. That the accounts do not accord with those accounting records. 3. That the accounts do not comply with the accounting requirements of the Charities Act. 4. Thai there is turther infom1ation needed for a proper understanding of the accounts to be reached. Independent Examiner's Statement As the charity's gross income exceeded £250,000 the cxaminer must bc a member of a listed body. We can confirn] that we are qualified to undertake the examination as we are a registered member of Chartered Accountants Ireland which is one of the listed bodies. We have completed our examination and have no concerns in respect of the matters 1 4 listed above and, in connection with the tollowing Dircctions of thc Charity Commission Northern Ireland. we have found no matters that require drawing to your attention. MeGroarty Mccafferty & Company Ltd Accountants and Tvdx Consultants 2 Carlisle Terrace Derry N Ireland BT48 6JX Date: 5 November 2025 Page 4
Glen Development Initiative (A company limited by guarantee) Statement of Financial Activities for the year ended 31 March 2025 Unrestricted Funds Restrieted Funds 2025 2024 Income and Expenditure Incoming Resources Granls & Sundry Income ?6,868 355.872 38?.740 366,381 Total Incomlng Resources 26,868 355.872 38?,740 366,381 Resources Expended Management & Administration 41,152 355,872 397,024 3)8.600 Total R£sources Expended 41,152 355.872 397.024 358,600 Iyet Incoming l (Outgoing) Resources (14,284) (14,284) 7,781 Balances brought fonvard l April 2024 36,264 36.264 28,483 Balances carried forward 31 March 2025 21,980 21.980 36,264 The above amounts relate to continuing operations of the company. The company has no recognised gains and losses other than those included in the results above and therefore no separate statement of total recognised gains and losses has been presented. There is no difference between the net incoming resources for the year stated above and their historical cost equivalents. Page 5
Glen Development Initiative (A company limited by guarantee) Balance sheet Rs at 31 March 2025 2025 2024 Notes Current assets Debtors Cash at bank and in hand 25.333 57,298 30,790 59,397 82.631 90,187 Current liabilities Other C[lI0rS AccNals 51,424 9,227 48,790 5.133 60.651 53,923 Net current &fjsets 21,980 36,264 Total assets less current liabilities 21,980 36,264 Reserves Unrestricted Restricted 21,980 36,264 10. 21,980 36,264 Page 6
Glen Development Initiative (A company limited by guarantee) Balance sheet (continued) Directors, statements required by Sectlons 475(2) and (3) for the year ended 31 March 2025 In approving these financial statements as directors of the company we hereby confirn].' The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small cotnpanies. The members have not required the company to obtain an audil in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requiretnents of the Companie5 Act 2006 with respect to dccounting records and preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP. The accounts have been approved and authorised for issue by the board on 5 November 2025. -j HC@I.c Director Director Registration No: N1060479 Page 7
Glen Development Initiative (A Company limited by guarantee) Notes to the accounts for the year ended 31 March 2025 General inforniation The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is Glenview Community Centre, Cedar Street, Derry, BT48 OEG. 1.1. Statement of compliance The financial statetnents have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Charities SORP (FRS 102), Companies Act 2006 and Charities Act (Northern Ireland) 2008. Income (i) Grants Grants represents all amounts received and receivable during the year. Capital grants are released to the profi( and loss accoun( in the year in which they are received in line with the SORP Accounting & Reporting by Charties. ReveThue grants are credited to the Svdtement of Financial Actl vities in the Ye they are received. (li) Donations & administration income. This comprises amounts received during the year, Expenditure (i) Direct Charitable Expenditure This represents all expenditure directly atiributable lo 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 2025 Income 2025 2024 Restricted Income Department for Communities DeY City & Strabane Council Educalion Aulhority PHA Halifax NHtp BIG Lottery Fund StarbuckslHubbab Dorrnant Accounts Fund Nl Communnity Restorative Justice Positive Ageing Small Grants BHCP Community Garden Success North West Ulster University - Magee 100,962 55,365 45.948 238 1,313 108,524 10,837 48.176 1,956 3.684 774 57.098 2,100 29,175 13.916 500 500 54,143 71,622 13,187 9,866 2,632 320 49,419 5,000 355.872 331,383 Unrestricted Income Oiher income Unrestricted ?6.868 34,998 26.868 34,998 Total Income 38?.740 366,381 (i) Restrfficted Funds Funds received which are earniarked by the Funder for specific purposes. Such purposes are within the overall aims of the organisation. (li) Unrestricted Funds Funds which are expendable at the discretion of the 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 2025 Resources Expended Unrestricted Funds Restricted Funds Total 2025 Total 2024 Management & Administration Wages & salaries Staff pension costs DCSDC expenses DFC - Expenses CRJ expenses Halifax expenses Positive Ageing expense Programme expenses Lottery fund NHIP Expenses EA Expenses Magee expenses Success NW expenses PHA expenses Party People expenses StarbuckslHubbub expenses Running expenses Sundry expenses Accountancy Insurance Bank Charges 25,418 197,047 15,111 31,501 7,667 2,992 1,400 316 21 70.010 222,465 15,111 31,501 7,667 2,992 1,400 316 15,099 70,010 193,357 11.156 9,934 15,399 13.916 491 40,431 57,098 774 4,910 15,078 9,192 5,000 1.014 238 9,192 5,(M)O 1,014 238 1.956 800 2,100 2,508 31 1,123 1,893 723 13,187 13,187 1,176 ,176 65.5 655 41,152 355.872 397.024 3.58.600 Taxation No charge to taxation 1.4 due ds the compdny hds charitable status. Staff note The average nutnber of persons etnployed by the company during the year amounfrd to 12 (2023.. 12) The aggregate payroll costs incurred during the year were: 2025 2024 Wages alld salaries Pension conlributions 222,465 15,111 193.357 10.980 237.576 204,337 Page 10
Glen Development Initiative (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2025 Debtors 2025 2024 Grants due Other debtors 10.356 14,977 12,323 18,467 25,333 30.790 Current liabilities 2025 2024 Taxes and social security costs Deferred income Accruals 5,490 45,934 9.227 4,315 44.475 5,133 60,651 53.923 10. Movements in Funds At At l April Incoming Outgoing 31 March 2024 resources resources 2025 Restricted funds: Total restricted funds 355,872 (355,872) Unrestricted funds: Total unr¢stricted funds 36,264 ?6,868 (41.152} 21,980 36,264 382,740 (397,024) 21.980 Purposes of Restricted Funds Restricted granis awarded to the charity is provided to covcr 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 The company is limited by guarantee and does not have a share capital. Page 11
Glen Development Initiative (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2025 13. Post Balance Sheet events No significant events have taken place since the year end that would result in adjustments to 2025 financial inforniation or inclusion of a note thereto. Page 12