COMPANY REGISTRATION NUMBER N1037937 BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS 31 MARCH 2024 Charlty number 101447 2 Strand Park Ballywalter BT22 2PW
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2024 CONTENTS Trustees, annual report Independent examiner's report Statement of financial artivitles Balance Sheet Notes of the financial statements 8-12
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE TRUSTEES, ANNUAL REPORT YEAR ENDED 31 MARCH 2024 The trustees presenttheir report and the unaudited financial statements of the charity for the year ended 31 March 2024. REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name Charlty reglstration number Ballywalter Youth and Community Coryoperative 101447 Company reglstration number N1037937 Princlpal office/Registered office The Village Hall 49151 Main Street Ballywalter Newtownards BT22 2PQ The Trustees The trustees who served the charity during the period were as follows: Mr C Dempster Mr E Pickering Mrs Alison Fisher Mrs Alison Fisher DT Accounting Services 2 Strand Park Ballywalter BT22 2PW Danske Bank Limited Donegall Square North Belfast 8T1 5GJ Secretary Accountants Bankers STRucfuRE, GOVERNANCE AND MANAGEMENT Ballywalter Youth and Community Co-operative 15 constituted as a company limited by guarantee and is 8overned by a Memorandum and Articles of Association. The Board of Trustees are responsible for the strategic management of the charity. The Board of Trustees and names of principal Advisers are set out on page 3. The Board appoints all new trustees based on selettion criteria, which ensures that collectively it maintains a broad range of relevant skills and experience. An induttron programme is offered to all new trustees to ensure that they are briefed on the charity's objettives, strategy and activities. The trustees have the overall responsibility forthe system of internal control for the charity, which includes ensuring that there are reasonable procedures in place for the prevention and detection of fraud and other irregularities. However, such systems can provide only reasonable. but not absolute, assurance against errors and fraud.
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE TRUSTEES. ANNUAL REPORT (continued) YEAR ENDED 31 MARCH 2024 FINANCIAL REVIEW Results for the year ended 31 March 2024 are given in the Statement of Financial Activities of page 6. The assets and liabilities as at 31 March 2024 are given on the Balance Sheet on page 7. The financial statements should be read in conjunttion with their related notes, which appear on page 8 to 12. SMALL COMPANY PROVISIONS This report has been prepared in accordance with the provisions applicable for companies entitled to the small companies exemption. Registered office: Signed on behalf of the trustees.. Mr Edward Pickering Direttor The Village Hall 49/51 Main Street Ballywalter Newtownards BT22 2PQ Mrs Allson Fisher Director Company Registration Number.. N1037937 Z7.o3-ioir
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE INDEPENDENT EXAMINEWS REPORT TO THE AND MEMBERS OF BALLYWALTER YOUTH AND COMMUNttY CO-OPERATIVE YEAR ENDED 31 MARCH 2024 BASIS OF INDEPENDENT EXAMINER'S REPORT I have examined your charity accounts as required under section 65 of the Charities Act and mv examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{91{bl if the Charlties Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as charity trustees concerning any such matters. My role is to stste whether any material matters have come to my attention giving me cause to believe: 111 That accounting records were not kept in accordance with settion 386 of the Companies Act 2006; 121 That the accounts do not accord with those accounting records; (31 That the accounts do not comply with the accounting requirements of section 396 of the Companies Att 2006 and with the methods and principles ofthe 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. 141 That there is further information needed for a proper understanding of the accounts to be reached. INDEPENDENT EXAMINERS STATEMENT I have completed my examination and have no concerns in respect of the matters111 to (4) listed above and, in connectton with the following the Directions of the Charity Commission for Northern Ireland, I have found no matters that qUIre to be drawn to your attention. DT Accounting Servlces 2 Strand park Ballywalter BT22 2PW Dian MIATI IFAC-Accounting Technicians Ireland in, kaite 1$13liC
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE STATEMENT OF FINANCIAL AcnviTIES YEAR EhlDED 31 MARCH 2024 Unrestrfrted funds Restricted funds Total funds 2023 Total funds 2024 Note INCOMING RESOURCES Incoming resources from generated funds: Voluntary income TOTAL INCOMING RESOURCES 12.470 12,471 13,033 12,470 12,471 13,033 RESOURCE5 EXPENDED Costs of generated funds: Overhead costs Governance costs 111,7591 110,5761 111,7591 19,7391 {10,5761 110,5761 TOTAL RESOURCES EXPENDED (22,3351 (22,335) 120,315) NET OUTGOING RESOURCES BEFORE TRANSFERS (9,8651 19,8651 17,2811 Transfer between funds NEf OUTGOING 11,389 111,3891 RESOURCES FOR THE YEAR RECONCIUATION OF FUNDS Total funds brought foNard 1,524 {11,389) (9,865) (7,281) 116,2151 381,618 365,403 372,684 TOTAL FUNDS CARRIED FORWARD (14,691) 370,229 355,538 365.403
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE BALANCE SHEET 31 MARCH 2024 2024 2023 FIXED ASSErs Note Tangible assets CURRENT ASSErs 343,034 353,610 io Debtors Cash at bank 15,261 13,058 15.261 13.058 CREDITORS: Amounts falllng due wlthin one year li 12,7581 {1,265) NEf CURRENT ASSErs 12,504 11,793 TOTAL ASSETS LESS CURRENT LIABILITIES 355,538 365,403 NEf ASSETS 355,538 365,403 FUNDS Restritted income funds 12 365,403 381,618 Unrestricted income funds 13 19,865) 116,215) TOTAL FUNDS 355,538 365,403 For the year ended 31 March 2024 the charity was entled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Trustees, responsibilitle5'. The members have not required the charity to obtain an audit of its accounts forthe year in question in accordance with section 476," and The trustees acknowledge their responsibilitSe5 for complying with the requlrements of the Art with re5pett to accounting record5 and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. These financial ststements were approved by the members of the committee and authorised for issue on the ........................... and are signed on their behalf by: Signed by trustee5: Mr Edward Pickering Mrs Alison Fisher Z?-tr> 2?2(
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL sfATEMENTS YEAR ENDED 31 MARCH 2024 I. STATEMENT OF COMPLIANCE These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. 2. ACCOUNTING POUCIES Basls of accounting The accounts financial statements have been prepared in accordance with Accounting and Reporttng by Charities, applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland {FRS 1021 and The Companies Act 2006. Cash flow 5tstement The trustees taken advantage of the exemption from including a cash flow statement in the financial Statements on the grounds that the charity is small. Fund accounting Restricted funds- the restricted funds represent donations received where the donor has imposed restrictions on the use of the funds which are legally blnding on the board of trustees. Unrestritted funds-the unrestrirted funds are under the control of the board of trustees, to be used in the furtherance of the general charitable objective5 of the company. Grants Revenue grants are credited to the statement of financial activities in the period which thev fall due. Flxed assets All fixed assets are initrally recorded at cost. Depreclation Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Freehold Propety- 2% pa straight line,. Equipment- 33.33% straight line; Fixtures and Fittings- 20% pa straight line.
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 3. VOLUNTARY INCOME Total Donations received Grants received Internal fundraising Solar received Rent received 3,427 9,043 12.471 12,471 4. OVERHEAD COSTS Unrestricted funds Total Dirert costs Other costs 9,949 1,810 11,759 11.759 5. GOVERNANCE COSTS Unrestrlrted funds Total Depreclatlon 10,576 10,576 10,576 6. NET OUTGOING RESOURCES FOR THE YEAR Unrestrlcted funds Total Depreclatlon 10,576 10,576 10,576
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 7. FUND TRANSFERS 2024 2023 IFI Grants RDC Grant Fundraising Internal Fundraising Donations Other grants Grant re Solar panels 301,523 172,736 29,639 26,498 18,008 21,053 569,457 301,523 172,736 29,639 26,498 18.008 21,053 569,457 Accumulated Release to Profit and Loss account at 2% per annum 199,228 187,839 370,229 381,618 The Directors have decided to depreciate the Premises Improvements of £528,773 over 50 years at 2% straight line and to release the Building reserve of £569,457 to Profit and Loss account over same period. 8. STAFF COSTS AND EMOLUMENTS PARTICULARS OF EMPLOYEES No salaries or wages have been paid to employees, including the members of the committee, during the year. 9. TANGIBLE FIXED ASSETS Freehold property Equlpment Flxtures & Flttings Total Cost As at 31.03.2023 528,7.73 9,376 14,790 552,939 Depreciatlon As at 01.04.2024 Charge forthe year 175,163 10,576 9,376 14.790 199.329 10.576 A5 at 31.03.2024 185,739 9,376 14,790 209,905 NEf BOOK VALUE As at 31.03.2024 As at 31.03.2023 343,034 353,610 343,034 353,610 10
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL STATEMENTS (continued) YEAR ENDED 31 MARCH 2024 10. DEBTORS 2024 2023 Trade debtor5 Other debtor5 11. CREDITORS 2024 2023 Trade creditors VAT Other creditors Accruals 705 705 2,052 560 2.757 1,265 12. RE5TRicfED INCOME FUNDS Balance at 01-Apr-23 Balance at 31-Mar-24 Transfers Restritted Fund 381,618 (11,3891 370.229 13. UNREsfRICTED INCOME FUNDS Balance at 01-Apr-23 Incomlng resources Balance at 31-Mar-24 General Funds 116.2151 1,524 114,6911 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible fixed assets Net current assets Total Restrirted Income Funds Unrestricted Income Funds 343,034 343.034 12,504 12,504 Total Funds 343,034 12.504 355,538
BALLYWALTER YOUTH AND COMMUNITY CO-OPERATIVE COMPANY LIMITED BY GUARANTEE NOTES TO THE FINANCIAL ¥fATEMENTS (continued) YEAR ENDED 31 MARCH 2024 15. COMPANY LIMITED BY GUARANTEE Ballywalter Youth and Community Co-operatlve was registered on 21 February 2000 as a company limited by guarantee. not having a share capital. The liability of each member is limited to an amount not exceeding £1. It is also a registered charity with HM Revenue and Customs. It is registered in Northern Ireland IN10379371 with its registered office at The Village Hall, 49151 Main Street, Ballywalter, Newtownards, BT22 2PQ. 16. MORTGAGE OVER PROPERTY AND ASSETS The International Fund of Ireland and the Northern Ireland Rural Development Council Ithe Fundersl have taken a Mortgage Debenture and Mortgage Deed over the property and assets of Ballywalter Youth and Community Co-operative, totalling £343,034. 17. CONTINGENT LIABILITIES It should be noted that under certain circumstances grant5 received may become repayable if certain qualifying conditions are not maintained. There are no other capital commitments or material contingent liabilities as at 31 March 2024. 12