Omagh Community House IA company Ilmltod by guarantga, not havlng a shar8 ¢apltall DIRECTORS, ANNUAL REPORT for the financial year ended 30 April 2024 The directors present their Directors, Annual Report, combining the Directors, Report and Trustees, Report, and the unaudited financial statements for the financial year ended 30 April 2024. The financial statements are prepared in aCrdan with the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The Directors. Report contains the information required to be provided in the Directors, Annual Report under the Statement of Recommended Practice (SORP} guidelines. The directors of the company are also charity trustees for the purpose of charity law and under the companys constitution are known as members of the board of trustees. In this report the directors of Omagh Community House present a summary of its purpose, governance, activities, achievements and finances for the financial financial year 30 April 2024. The company is a registered charity and hence the report and results are presented in a form which complies with the requirements of the Companies Act 2006 and. although not obliged to comply with the Statement of Recommended Practice applicable in Ihe UK and Republic of Ireland FRS 102, the organisation has implemented its recommendations where relevant in these financial statements. Misslon, Objectlves and Strategy Mission Statement Omagh Community House was sèt up in the aftermath ofthe Omagh bomb in August 1998 and has as its Vision-. Omagh Community House is a neorked centre for community contact, building on the past to promote a better future. The mission of OCH is articulated as follows.. 'This House is home to our resident groups. and we are its guardians. Through innovation, partnership and best practi we will 5UPPOrt the sustainable development of our resident groups." The core values which are intrinsic to the Strategy of OCH are: Sustainability.. Partnership.. Responsive.. Proactive- Supportive and Enabling.. Objectives The aims of the Strategy are.. 1. To establish OCH as a key player in the community and voluntary sector and the Social Economy in Omagh and the wider western region. 2. To ensure the sustainability of OCH and that of its resident groups, Ihereby contributing to the lon9-lerm development of the Community and voluntsry sector. 3. To work diligently and proactively in collaboration with key sectoral stakeholders at a local. sub-regional and regional level to provide a quality and value-added se1 to both resident groups and their memberslclients. Strategy Following on from the aims, the subsequent strategic objectivès were developed- To implement actions that will enable OCH to work towards its financial sustainability and that of its resident groups (priority}. To continuously seek to provide the Sident groups with quality a¢¢ommodation at an affordable price within an environment that is supportive, and which encourages sharing, co-operation and financial suslainabilily. To ensure that OCH is innovative and is widely regarded as a model of best practi within Ihe sector. - To establish OCH as a key player in the social and economic development of Omagh and the wider western region through the creation of partnerships and networks. To heighten awareness of OCH, thereby encouraging local groups and individuals to access OCH on a more regular basis.
Omagh Community House IA company Ilmlted by guarant80, not havlng a share capltall DIRECTORS, ANNUAL REPORT for the financial year ended 30 April 2024 Structure, Governance and Managernent Stru¢ture Omagh Community House is a Company Limited by Guarantee formed in 1998 and incorporated in early 1999. The Board has a good mix of commercial and community-based skills and experience in the wodd of Public Adminislration, Medicine, Legal, Accountancy and Leaders in the Community and Voluntary sector. Governance The charitable company is limited by guarantee, not having a share capital. The charitable company was established under a Memorandum of Association which established the objects and powers of the charitable company and is giverned under its Art¢cles of Association. In accordan with the Articles of Association. the members to retire by rotation shall be those who have been longest in office since their last election. and the relevant motion will be put at the Annual General Meeting. retiring member shall be eligible for re-election. Review of Activities, Achievements and Performan¢e We continued to meet our original Objectives, and this year proved extremely difficull due to a slower recovery from the Cowd-19 pandemic than expected. However. towards the yearfs end, some signs were evident through InCaSed aclivity that next year should see us operating al pre-covid levels. The company's structure remains unchanged, and the Governance arrangements are strictly adhered to. Our accountant on the Board scnjtinized the production of quarterly management accounts. which are then presented at the quarterly meeting. Occupancy and agreements are scrutinised by our Board Members, and the impact of capacity is reported on quarterly. The day-to-day management is provided by our administrator, and the Chairman is involved on almost a daily basis and makes emergency decisions when necessary which are reported to following Board meeting. The Board also provides an opportunity for general Offi and cleaning duties for an adult with a Learning Disability. Financial Rgview In the financial year OCH has successfully kept its net position stable despite a massive reduction in income. resulting from loss of income on conference space, training room hire and voids. The Company jusl received notice at the end of the year that they have been successful in their bid to the Cornmunity Ownership Fund {COFI for the purchase of the ground-floor unit for £250.000 and Ihis will translate into a savings of £18.000 per annum as we currenuy rent the unit. In addition a bid to the pea and Reconciliation fund through the Council was also successful and a sum of £43,000 will be available for maintenance in this financial year, again a very positive outcome and one that will assist in strengthening the finances of the Company. Work has commenced on the re-organisalion of our long-term debt and this should be concluded in the middle of this financial year with positive outcomes. The Board continues to monitor the financial stability of the company on a regular basis and will refresh the Board during Ihis year. Financial Results At the end of the financial year the company has assets of £1,694.274 12023 £1.731.083) and liabilities of £1,686,44012023 - £1,691,296). The net assets of the company have decreased by £{31,953}. Referonce and Administrativo details The reference and administrative details of the charitable company are as shown on page 3.
Omagh Community House IA company Ilmited by guarantee, not havlng a share capltall DIRECTORS. ANNUAL REPORT for the financial year ended 30 April 2024 Directors The directors who served throughout the financial y6ar. except as noted, were as follows.. Conor Michael Keys Frank Mccarthy Aidan Joseph Bunting Dr Domingos Pinto George Kerr Eamon Corry John McKinney In a)rdan with the Constitution, the directors retire by rotation and, being eligible, offer themselves for re-election. Th6 secretary who seNed during the financial year was.. Conor Keys Cornpliance with Se¢tor-Wide Legislation and Stsndards The company engages pro-actively with legislation, standards and codes which are developed for the sector. Omagh Community House subscribes to and is compliant with the following= The Companies Act 2006 The Charities SORP IFRS 102) Public Benefit Statement The directors of Omagh Community House confirms that they have complied with their duties in regard lo the Charity Commission for Northern Ireland's guidance on public benefit and that the public benefit requirement have been achieved through the activities of the charitable company in the year ended 31 March 2019. Purpose 1.. To advance community development by providing office space, facilities and services and by providing a forum to share views. The direct benefits which flow from this purpose include.. tenant groups benefit from neOrkIng and information sharing of services, and provision of affordable and a¢ssIble Offi space. These benefits will be evidenced by retention of tenant organisalions at fijll occupancy.. substantial waiting list for office space.. word ot mouth feedback. We do not anlicipale any harm leading from the purposes of our charity. The charity's beneficiaries are primarily people in the Omagh District Council area as well as adjoining Council areas. The only private benefit flowing from this purpose is that a trustee may be paid for professional ServIS required by the organisation. This benefit is incidental and necessary lo ensure the benefit is provided to our beneficiaries. Purpose 2.. To provide facilities by way of an inclusive and open venue for members of the community. The direct bellefils which flow from this purpose include groupslorganisationsl individuals who hire the conference and training rooms benefit from a neutral venue which is accessible and affordable., participanls have increased knowledge and skills through attending wort(shops, training, events etc.; local artists benefit from exhibiting their athork in a large, visible and public area. increasing their profile and ultimately sales. These benefits are evidenced by return bookings for room hire. follow-up Comrnent forms for those hiring facilities.. word of mouth feedback.. visilorlcomment book. We do nol anticipate any harm leading from this purpose of our charity. The charity's beneficiaries are primarily people in the Omagh District Council area as well as adjoining Council areas. The only private benefit tiowing from this purpose is that a trustee may be paid for professional serwces required by the organisation. This benefit is incidental and necessary lo ensure the benefit is provided to our beneficiaries. Approvod by the Board of Dlre¢tors on 6 Novembor 2024 and signed on its behalf by: John McKlnney Director Eamon Corry Director