COMPANY REGISTRATION NUMBER: N1044974 CHARITY REGISTRATION NUMBER: NIC101549 West Bann Development Company Limited by Guarantee Financial Statements 31 March 2025 PAUL A TAYLOR & COMPANY Chartered accountant & statutory auditor Unit 4 12 Spittal Hill Bushmills Road Coleraine BT52 2BY
West Bann Development Company Limited by Guarantee Financial Ststements Year ended 31 March 2025 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) 13 17 Statement of financial position Notes to the financial statements 18 19 The following pages do not form part of the financial statements Detailed statement of financial activities 34 Notes to the detailed statement of financial activities 38
West Bann Development Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2025. Reference and administrative details Registered charity name West Bann Development Charity règistration number NIC101549 Company registration number N1044974 Principal offlce and registered 8 Killowen Court office Coleraine BT51 3TP The trustees Columb Henry Barney Gilmore Patrick McFeely Jeremy Thompson Nuala Hollinger Harry McGill Bernie Cosgrove John Pollock Kevin Mcwilliams Brendan Magee Daniel Fisher Catherine Ann Taylor John Joseph Boyle Siobhan Smyth Tori Lowbridge (Appointed 19 March 2025) (Appointed 15 April 2024} Audltor Paul A Taylor & Company Chartered accountant & statutory auditor Unit 4 12 Spittal Hill Bushmills Road Coleraine BT52 2BY Bankers Allied Irish Bank (formerly First Trust Bank) 33 The Diamond Coleraine BT52 1 DP
West Bann Development Company Limitsd by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Structure, governance and management Governing Document The organisation is a charitable company limited by guarantee, incorporated on 13 December 2002 and recognised as a Charity by the Inland Revenue on 9 January 2003. Registration with the Nl Charity Commission took place on 22 October 2015. The company was established under a Memorandum of Association which established the objects 2nd powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. Board of Directors The Directors of the board of management on 31st March 2025 are listed on page 1. Organisational Structure The West Bann Development Board of Directors meets bi-monthly and is responsible for the strategic direction and policy of the charity. At present the Committee has 11 members from a variety of backgrounds relevant to the work of the charity. There has been no change in management during the reporting period and Angela Mulholland remains in the position of manager at West Bann Development. Delegation A scheme of delegation is in place and day to day responsibility ft)r the provision of services rest with the Community Development Manager. The Community Development Manager manages the Community Centre and Enterprise Units, ensuring that the local community make best possible use of the facilities available. The Community Development Manager will have responsibility for ensuring that the Community Centre is a sustainable resource through the generation of funding and the promotion of self-financing projects.
West Bann Development Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report) (continued) Year ended 31 March 2025 Objectives and activities Purposes and Aims Our charity's purposes as set out in the objects contained in the company's memorandum of association are.. To promote the benefit of the inhabitants of the Causeway Coast and Glens Area and its environs (the 'area of benefit"} without distinction of age, gender, sexual orientation, nationality, ethnicity, political or religious opinion and in particular to.'_ (1) Advance education by delivering community education and vocational training programmes. (2) Promote health and well-being by organising healthy recreational activities and information for residents living in the area of benefit. {3) Relieve those in need by reason of age, ill-health, disability or other disadvantage by providing a telephone care, alert and support service. Relieve unemployment and povety by the creation of training and employment opportunities through the provision of incubation business units for use on favourable terms Promote community development for the public benefit by providing.. Facilities and amenities for, and promoting co-operation and joint activities beeen, community and voluntary groups and organisations., An accessible early years, seniice, including training, support, signposting and neOrking, for families living in the area of benefit., Opportunities to foster good community relations and social cohesion and provide a platfom for the civic voice. Ensuring our work delivers our aims We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the succes5 of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us to ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission's general guidance on public benefitwhen reviewing our aim and objectives and in planning our future activities. In particular, the Directors consider how planned activities will contribute to the aims and objectives they have set.
West Bann Development Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) fcontinued) Year ended 31 March 2025 Objectives and activities fcontinued) How our activities deliver public benefit Who we try to help and our main activities are described below. All our charitable activities focus on residents of the Causeway Coast & Glens Borough Council Area particularly the Churchlands Area in Coleraine and are undertaken to further our charitable purposes forthe public benefit. The trustees have paid regard to the public benefit guidance published by the Charity Commission. Who used and benefited from our services? Residents from the Causeway Coast & Glens Borough Council Area and residents of the Churchlands NRA in Coleraine are our primary organisational focus. The Churchlands area is better known locally as the Heights and Killowen areas. According to the most recent census (2021) the population of the area was recorded as 3,638 people. Strategic report The focus of our work Our main objectives for the year continued to be the provision of services, activities and facilities for local residents. To ensure the work of the organisation is still meeting the needs of the local population an audit of community need was undertaken during 2024 and a new Strategic Action Plan was co- designed in May 2024 to incorporate years 2024 - 2027. The strategies used to meet these objectives are listed in the principal activities and review of activities and developments below. Principal Activities The statement of financial activities for the year is set out on page 13 West Bann Development was ft)rmed in 1998 to address the social and economic disadvantages on the west of Coleraine town, in the Churchlands Ward. To meet these needs we have devised and delivered a variety of projects with the local community including an Early Years Programme, Community Education Programme and various social events. However our key aim has been to address economic disadvantages in the area and to this end, the Company has accessed the resources to establish a community owned Enterprise Centre with community space, in an area identified as suffering dereliction and in need of physical regeneration.
West Bann Development Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Objectives and activities (continued) Review of activities and developments The Regeneration Project, this project encompasses and allows the development & management of all the activities delivered and promoted by the organisation. The project aims to develop and co-ordinate a range of social and economic actions in the Churchlands Neighbourhood Renewal and wider CC&GBC Area to meet the health, education and training needs of the local community. The project further aims to facilitate the delivery of a range of support seNices for the benefit of the NRA residents through collaboration and partnerships with other community, voluntary and statutory agencies. Community Education Programme, the provision of this programme for initial learning and further improvement of computer and employability skills was provided with the primary aim of empowering those living in the area with the attributes and self-confidence to better meetthe needs of the local labour market. The programme has seen an increase in the delivery of courses, and we continue to work in partnership with both the NRC and NWRC colleges to deliver accredited training for the benefit of the community. We have also delivered in house training including both English and Maths and Pre-maths classes. Qualifications were delivered and accreditations achieved. Early Years Programmes continue to be delivered to provide parentslcarers and children with the opportunity to develop to their full potential. The need for this support is greater now than ever and we are seeing the effects of confinement and isolation manifest itself in the children's behavior and delayed development. To supportthis endeavorwe provide onsite crèches as well as a weekly parentand toddler group part funded by the Pathway Fund. Collaboration continues with Coleraine Sure Start Partnership in the delivery of the DE Developmental Programme for 2-3 year old's. The partnership with NRC continues at the Centre for the delivery of the L2 & L3 Diploma in Children's Care Learning and Development along with supporting crèche. We are looking at extending our service provision in September 2025. Low Cost Business Units, this provision is designed to encourage the formation of new businesses in the area in an effort to create self-employment and employment and to reduce unemployment and povety. Residents from the Causeway Coast and Glens area continue to operate their businesses at the centre. The units are also a means of generating revenue for the organisation.
West Bann Development Company Limitsd by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (Mntlnuedj Year ended 31 March 2025 Objectives and activities (contlnued) West Bann Development's other activities include- Churchlands Community Supporting Families through Learning, this project is delivered in partnership with three local schools, Killowen P.S., St. John's P.S. & Kylemore N.S. It is an inter schools and community collaborative approach. It is a joined up, longitudinal approach to support family learning. It is in place to identify children from the Churchlands Neighbourhood Renewal area who are at risk of low achievement due to social, emotional and behavioural difficulties. The programme uses a a child- centred approach to support these children to ensure the maximum potential ft)r their inclusion in mainstream education from as early an age as possible. The programme aims to develop individual children's social, emotional and behavioural skills, encourage healthy lifestyles, improve their educational experience, reduce the number of children on the special needs register and those with ststements. Given the vital role parents have to play in education the programme aims to assist the development of appropriate parental skills to support all our children. The Health & Wellbeing Project, the project has specific objectives of improving health, reducing stress and promoting better lifestyle and health options by providing podiatry treatments to the people of the Churchlands NRA in Coleraine. Podiatry works to improve the mobility, independence and the quality of life of individuals by providing care, diagnosis and treatment of a wide range of problems affecting feet, ankles and lower limbs. This service delivers foot and lower limb care to over 100 local NRA residents through weekly clinics. Good Morning Causeway telephone support service, the project supports older and vulnerable people across Causeway Coast and Glens and aims to alleviate loneliness and isolation, by being a friend on the phone. Calls are made five days a week by a group of dedicated volunteers supported by the Good Morning coordinator. Clients are encouraged to engage with local services thereby helping to improve service users, mobility and re-engage with society. Clients have the opportunity to complete a personal Wellbeing plan with a Wellbeing plan officer, the plan focuses on their physical, emotional and mental health, with personal goals including interests, hobbieslvolunteering The service will support the client to reach their goals visiting ]Ce over a three month period. The programme is funded by the Community Fund through or Partnership with C.O.A.S.T. The organisation for Older People, Good Morning Causeway (West Bann Development) and Good Morning Ballycastle (Ballycastle Churches action). The Wednesday Morning Club (BOTCHA) is a weekly activity programme for local senior citizens which West Bann Development provides each Wednesday morning (11 am to 12.30pm) The club comprises a range of activities designed to improve and maintain the health and well-being of residents whilst at the same time improving local community relations. West Bann acknowledges that there is a significant older population in the area. The major benefits of this activity stem from the social interaction enjoyed by this cross community group and include: Avoids depression Fosters and builds friendships Provides a reassuring support network Permits access to West Bann partner organisation services Promotes community integration & independence instead of isolation
West Bann Development Company Limitsd by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Objectives and activities (continued) Complementary TherapieslPhysical Activity, Physical and Mental Well Being is promoted through exercise classes and complementary treatments which are offered by West Bann Development and complement the Wednesday Morning Club in tackling the health-related issues of NRA residents. The exercise classes and treatments will attract a cross section of young people, the elderly, men and women with a view to.. increasing the level of residents physical activity- improving mobility; independence and quality of of life,. reducing the number of people with levels of stress related illnesses., promoting personal and social development- providing diversion via a complementary healing proces5 and enhancing self-esteem and bring about a reduction in marginalization. Youth Work At West Bann we work with young people to give the opportunity of learning and recreational activities and to give them a voice as they often feel they are underrepresented and ignored by wider society. To accomplish this we seek the financial resources to allow this to happen and we collaborate 2nd work with other groups for the delivery of programmes. We will be working in partnership with the EA moving forward in 2026. Provision of Facilities at the Centre, the Centre is open for use by the Local community and voluntary groups promoting good relations and improving social inclusion. The Centre is also a venue which provides for the delivery of training and additional services by Statutory, community and voluntsry agencies. The West Bann Centre is a welcoming venue in the heart of the community and accessible to the whole community. It provides a safe shared space for the utilisation of the Civic Voice. Strategic report The following sections for achievements and performance and financial review form the strategic report of the charity.
West Bann Development Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {continuedJ Year ended 31 March 2025 Achievements and performance West Bann have seen a steady increase in engagement from local residents, parents and young people during this reporting period. New programmes and projects that particularly focus on health and wellbeing and educational attainment have encouraged new participants to use the centre. From the targets and activities established to meet the needs of the people in the area and monitored by a variety of statutory and other agencies, all targets have been met. We continue to work hard to promote the centre and all of our activities on offer so as to encourage residents to engage and participate in planned initiatives. In an efft)rt to achieve this West Bann have redoubled their efforts to promote activities, keeping residents informed of what is available at the centre through social media postings, email campaigns and word of mouth as a means of encouraging residents to get involved. We are currently seeking funding to re-design our web page and make it more attractive and user-friendly. The securing of Tutors from the FE Colleges, particularly for essential skills English and Maths continues to be difficult and presents a challenge at times when we have interest in the community for courses but can't secure a tutor. We have been working closely with NRC, NWRC and Row Valley Residents Group to address these challenges and we are delighted that we were able to facilitate these much-needed courses. We continued to work in partnership with C.O.A.S.T. (Causeway Older Active Strategic Team) to deliver the Connected Age Project and operated the Good Morning Causeway Call support service. Most ofthe volunteers making the calls continue to work from home. However, with new volunteers we are encouraging them to attend the office and create a more team approach to volunteering. The coordinator working from the Centre continues to recruit volunteers and liaise with Causeway Volunteer Centre, local schools and churches, community groups and associations. We continue to see the demand for the service increase and also have highlighted the need for a befriendingl home help service to accompany existing home visits. Home visits to the elderly and vulnerable as part of the Connected Age project aim to encourage clients to take part in activities in their local area and assess and address any needs identified.
West Bann Development Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Financial review Dfc Securing sufficient funding for the delivery of projects and programmes is still foremost on the minds of the board at West Bann. Without adequate funding the delivery of services to the community would not be possible. Insecurities over long term funding still remains and causes difficulties in terms of planning or developing a long-term strategy. Continued core funding from the Department for Communities, Early Years, Sure Start, CC&GC, Big Lottery coupled with self-generated funds allows the company to show net surplus in funds for the year of (£15,122.39). Dfc funding for the following three projects delivered by West Bann Development was secured for the period April 2024 to March 2025, the Regeneration Project, Health and Well Being Project and Churchlands Community Supporting Families through Learning Project. West Bann was the lead organisation 2nd responsible for the funding for the Churchlands Community Supporting Families through Learning Project (CCSFTL) which enabled the primary schools and nursery schools in the West Bann Neighbourhood Renewal Area to provide additional support for the children with the most need. However, continued funding in its present form from Dfc is uncertain, with a review of Neighbourhood Renewal underway NR was designed to be a 10 year programme and it has now been running for a considerably longer period. Consequently, the directors feel that it is of utmost importance that alternative andlor additional funding options are explored and secured. This will ensure that current operational levels can be maintained if if funding streams are lost or diminished. The manager has been actively lobbying and engaging with the Department for Communities and West Bann also facilitated a meeting with the Department for Communities, Minister Gordon Lyons in September 2024 to recommend that further funding support was needed to accommodate the rise in the cost of living and the living wage. Sure Start Funding from the Department of Education had also been secured through Sure Start for the 202412025 financial year, which safeguarded a large portion of the Early Years activities (i.e. Sure Start Developmental Programme for 2 - 3 Year Olds). This is a pre pre-school programme designed to provide early learning, intervention and support where most needed. This programme prepares children for the transition to nursery school. The evidence is that children who attend this programme have less difficulty making the transition and settle better. Pathway Fund Early Years the Organisation for Young Children provided funding for the programme secured from the Department for Education. These funds are a contribution towards the costs associated with the delivery of the Early Years programme delivered by West Bann. West Bann received a small increase in this funding stream from {18,000 to 24,000) for the programme for the 202412025 financial year. The rest continues to be covered by West Bann from their own self-generated funds. This programme supports parents and their families through the provision of crèches, parent and toddler groups and other support services delivered by West Bann's professionally trained staff. Community Fund West Bann as a partner in the C.O.A.S.T. (Causeway Older Active Strategic Team) partnership secured funding from The Big Lottery (Community Fund). The 4 year (2022-20261 Connected Age project supports older people across Causeway Coast and Glens to engage with local services i.e. {Good Morning Call service) etc. helping improve clients mental health and decrease social isolation. Each person is offered a Personal Wellbeing Plan designed to asse5S their needs and encourage and facilitate more social inclusion.
West Bann Development Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report) (contlnued) Year ended 31 March 2025 Financial review (contlnued) pcsp The Policing & Community Safety Partnership continues to provide funds to allow diversionary activities to be delivered. Activities for the elderly were also facilitated which gave the opportunity for messages of reassurance to be delivered to alleviate any fears about PSNI availability in local areas. BYTES This is an organisation based just outside Belfast which deliver youth programmes in many local towns. Bytes state, our mission is to help young people achieve their full potential and overcome any barriers they may face. West Bann Development sublets the hub unit to them. So, they are technically a tenant. Bytes pays a member of the West Bann Youth team to work with Bytes to deliver local youth activities utilising the West Bann youth HUB which is a fantastic resource developed in the heart of the Community. Principal Funding Sources Aside from the income generated by the rental of units, office space and meeting facilities, the principal funding sources for the charity are currently by way of granucontract income from the following sources.. The Department for Communities The Department for Communities (capital) Early Years - The Organisation for Young Children (DE Funded - Pathway)" Coleraine Sure Start Partnership (DE Funded) C.O.A.S.T. {Community Fund) Causeway Coast & Glens BC Garfield Weston Row Valley Residents Group (The Multiply Project) PHA- The Clear Project NSCHT Awards For All (The Big Lottery) Investment Policy Aside from retaining a prudent amount in reserves each year most of the charity's funds are to be spent in the short term so there are few funds for long term investment. Having considered the options available, the board of directors have decided to invest in a fixed term investment account. Although the overall return on this investment is low, this is weighed against a conscious decision by the directors to hold residual funds in a medium which is easily and quickly accessible. This decision stems from the current uncertain nature of the funding landscape. 10
West Bann Development Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) (contlnued) Year ended 31 March 2025 Financial review (contlnued) Reserves Policy The Board of Directors has examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible assets held by the charity should equate to 12 months of expenditure. The reserves are needed to meet the working capital requirements of the charity, and the Board of Directors are confident that at this level they wou5d be able to continue the current activities of the charity in the event of a significant drop in funding. The reserve target of £18,000 for the purchaselreplacement of Computer Hardware and software is no longer required due to successful funding from the Department for Communities and also a sum of £12,250 for replacement of the floor in the main community space will also be covered by the Department for Communities in the future. The present level of reserves available to the charity however falls significantly short of the target level. Although the strategy is to continue to build reserves through planned operational surpluses. the Board of Directors is well aware that it is unlikely that the target range can be reached for at least five years. In the short term the Board of Directors has also considered the extent to which existing activities and expenditure could be curtailed, should such Circumstances arise. Plans for future periods The Charity plans continuing the activities outlined above in the forthcoming years subject to satisfactory funding arrangements and amend the action plan accordingly. Trustees. responslbllitles statement The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period. In preparing these financial statements, the trustees are required to= select suitable accounting policies and then apply them consistently- observe the methods and principles in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent-, state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 11
West Bann Development Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {¢ontlnued) Year ended 31 March 2025 The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Auditor Each of the persons who is a trustee at the date of approval of this report confirms that: so far as they are aware, there is no relevant audit information of which the charity's auditor is unaware. and they have taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. The trustees, annual report and the strategic report were approved on 3 March 2026 and signed on behalf of the board of trustees by= Columb Henry Director Bernie Cosgrove Director 12
West Bann Development Company Limited by Guarantee Independent Auditor's Report to the Members of West Bann Development Year ended 31 March 2025 Oplnion We have audited the financial statements of West Bann Development (the 'charity'} for the year ended 31 March 2025 which comprise the statement of financial activities {including income and expenditure account), statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). This report is made solely to the charity'5 members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. In our opinion the financial statements: give a true and fair view of the state of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice", have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing {UKI {ISAs (UKII and applicable law. Our responsibilities under those standards are further described in the auditorfs responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern We have nothing to report in respect of the following matters in relation to which the ISAS (UK} require us to report to you where: the trustees, use of the going concern basis of accounting in the preparation of the financial statements is not appropriate., or the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue. 13
West Bann Development Company Limited by Guarantee Independent Auditor's Report to the Members of West Bann Development (continued) Year ended 31 March 2025 Other information The other information comprises the information included in the annual report, other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly ststed in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otheNise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinlons on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit." the information given in the trustees, report for the financial year for which the financial ststements are prepared is consistent with the financial statements. and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are requirod to report by exceptlon In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees. remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. 14
West Bann Development Company Limitsd by Guarantee Independent Auditor's Report to the Members of West Bann Development (conlinued) Year ended 31 March 2025 Responslbilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees {who are also the directors forthe purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the financia5 statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the interna5 control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements representthe underlying transactions and events in a manner that achieves fair presentation. 15
West Bann Development Company Limited by Guarantee Independent Auditor's Report to the Members of West Bann Development fcontinued) Year ended 31 March 2025 We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Paul A Taylor (Senior Statutory Auditor) For and on behalf of Paul A Taylor & Company Chartered accountant & statutory auditor Unit 4 12 Spittal Hill Bushmills Road Coleraine BT52 28Y 3 March 2026 16
West Bann Development Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Restricted funds Total funds 2024 Unrestricted funds Total funds Note Income and endowments Donations and legacies Charitable activities Other trading activities Investment income 8,266 36,632 66,816 1,482 1,830 237,898 10,096 274,530 66,816 1,482 3,212 230,912 52,805 1,693 Total income 113,196 239,728 352,924 288,622 Expenditure Expenditure on raising funds.. Costs of other trading activities Expenditure on charitable activities Total expenditure 18,042 128,564 27,083 189,691 45,123 318,257 38,525 286,104 10,11 146,606 216,774 363,380 324,629 Net expenditure and net movement in funds (33,410) 22,954 {10,456) (36,007) Reconciliation of funds Total funds brought forward Total funds carrled forward 72,460 791,047 814,001 863,507 899,515 39,050 853,051 863,507 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 19 to 32 forni part of these financial statements. 17
West Bann Development Company Limited by Guarantee Ststement of Financial Posltion 31 March 2025 2025 2024 Note Flxed assets Tangible fixed assets Investments 17 18 20,063 775,812 7,654 775,812 783,466 795,875 Current assets Debtors Cash at bank and in hand 19 40,039 127,981 35,562 104,519 140,081 168,020 Creditors: amounts falling due within one year Net current assets 20 17,592 150,428 25,072 115,009 898,475 Total assets less current liabilities 946,303 Credltors: amounts falllng due after more than one year Net assets 21 {93,252} 853,051 (34,9671 863,508 Funds of the charlty Restricted funds Unrestricted funds 814,001 39,050 791,047 72,460 863,507 Total charity funds 25 853,051 These financial statements were approved by the board of trustees and authorised for issue on 3 March 2026, and are signed on behalf of the board by.. Columb Henry Director Bernie Cosgrove Director These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small Companies, regime. The notes on pages 19 to 32 forni part of these financial statements. 18
West Bann Development Company Limited by Guarantee Notes to the Financial Ststements Year ended 31 March 2025 General infomiation West Bann Development is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 8 Killowen Court, Coleraine, BT513TP. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 {FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting pollcies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estlmation uncertainty Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows.. Depreciation rates for equipment and fixtures have been estimated based on expected future value. The carrying values at the current and previous year ends are disclosed in note 16 of the Financial Statements. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor orthrough the terms of an appeal, and fall into one of Iwo sub-classes.. restricted income funds or endowment funds. 19
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies f¢ontlnued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The ft)Ilowing specific policies are applied to particular categories of income-. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is estsblished. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of seNices is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds forthe charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned belween the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded atcost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 20
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Accounting policies (continued) Tangible assets (continuod) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows- Fixtures, fittings & furniture Creche equipment Office equipment Computer equipment 10 % straight line 10 % straight line 10 % straight line 25 % straight line Investments Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment. Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure. Investment property Investment propety is initially recorded at cost, which includes purchase price and any directly attributable expenditure. Investment property is revalued to its fair value at each reporting date and any changes in fair value are recognised in income or expenditure. If a reliable measure of fair value is no longer available without undue cost or effort for an item of investment property, it shall be transferred to tangible assets and treated as such until it is expected that fair value will be reliably measurable on an on-going basis. Impairnient of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. 21
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2025 Accounting policies {continuedJ Impairment of fixed assets (continuedj For the purposes of impairment testr'ng, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. Flnancial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. 22
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (continu8d) Year ended 31 March 2025 Accounting policies (continued) Flnancial instruments Icontinuedj Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee West Bann Development is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as be required not exceeding £1 to the assets of the company in the event of its being wound up while he or she is a member, or within one year year after he or she ceases to be a member. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2025 Donations Donations received PCCT donation 8,266 8,266 1,830 1,830 1,830 8,266 10,096 23
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (eontlnued) Year ended 31 March 2025 Donations and legacies (continued) unstrICted Funds Restricted Total Funds Funds 2024 Donations Donations received PCCT donation 1,712 1,712 1,500 1,500 1,500 1,712 3,212 Charitable activltles Unrestricted Funds Restricted Total Funds Funds 2025 IT and Educational Course Fees Early Years Course Fees Health and Wellbeing Course Fees DFC Regeneration Project DFC Health & Well Being Project DFC Churchlands Community Supporting Families TLP DFC Churchlands Community Supporting Families TLP -paid to schools Pathway Fund Garfield Weston The Clear Project Awards for All Causeway Coast & Glens BC Job Start Scheme Neighbourly Coleraine Sure Start {2 year old programme} NHSCT Multiply l RVRA Big Lottery I COAST Deferred income for capital expenditure released ESF - Learn to Earn Boys and Girls Club Police Community Safety Partnership Bytes 28,124 28,124 8,508 8,508 62,310 2,925 62,310 2,925 64,164 64,164 {62,734) 20,000 15.000 3,003 586 3,500 19,708 500 65,571 150 2,376 25,150 13,887 (62,734) 20,000 15,000 3,003 586 3,500 19,708 500 65,571 150 2,376 25,150 13,887 1,000 802 1,000 802 36,632 237,898 274,530
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Charitable activities (contlnued) Unrestricted Funds Restricted Total Funds Funds 2024 IT and Educational Course Fees Early Years Course Fees Health and Wellbeing Course Fees DFC Regeneration Project DFC Health & Well Being Project DFC Churchlands Community Supporting Families TLP DFC Churchlands Community Supporting Families TLP -paid to schools Pathway Fund Garfield Weston The Clear Project Awards for All Causeway Coast & Glens BC Job Start Scheme Neighbourly Coleraine Sure Start (2 year old programme} NHSCT Multiply l RVRA Big Lottery I COAST Deferred income for capital expenditure released ESF - Learn to Earn Boys and Girls Club Police Community Safety Partnership Bytes 8,610 660 28,871 8,610 660 28,871 61,191 2,800 61,191 2,800 61,109 61,109 {59,747) 18,000 {59,747) 18,000 3,800 3,800 65,035 65,035 25,433 9,524 1,477 1,350 999 1,800 25,433 9,524 1,477 1,350 999 1,800 38,141 192,771 230,912 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Fundraising events Hall Rent Board Room Rent IT Suite Rent Unit Rent Catering Provision Consultancy Photocopying I Printing Services 7,156 5,642 1,913 1,536 19,970 1,580 28,951 68 7,156 5,642 1,913 1,536 19,970 1,580 28,951 68 22,006 (2,380) 96 19,413 1,173 12,138 359 22,006 (2,380) 96 19,413 1,173 12,138 359 66,816 66,816 52,805 52,805 25
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Bank interest receivable 1,482 1,482 1,693 1,693 Costs of other trading actlvities Unrestricted Funds Restricted Total Funds Funds 2025 Staff costs Other trading activity 1 employerfs NIC Other trading activity 1 pension costs Other trading activity 1 rent Water charges Electricity Premises repairs & maintenance Insurance Consultancy fees Telephone and internet Miscellaneous Depreciation Bank charges Heating fuel Postsge Office stationery Computer repairs and servicing Computer software Cleaning 10,746 442 175 15,357 1,109 399 26,102 1,550 574 1,129 164 851 88 2,712 188 178 152 439 1,129 2,253 1,269 1,573 3,679 1,330 178 2,090 439 949 283 213 392 915 205 2,089 418 1,485 967 1,142 1,938 949 289 166 192 532 51 (6) 47 200 383 154 18,042 27,083 45,123 26
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 Costs of other trading activities (continuedj Unrestricted Funds Restricted Total Funds Funds 2024 Staff costs Other trading activity 1- employer's NIC Other trading activity 1 pension costs Other trading activity 1 rent Water charges Electricity Premises repairs & maintenance Insurance Consultancy fees Telephone and internet Miscellaneous Depreciation Bank charges Heating fuel Postage Office stationery Computer repairs and serwicing Computer software Cleaning 12,074 (476) 127 497 1,059 402 1,154 875 68 450 599 78 463 74 85 111 276 811 255 8,990 541 334 21,064 65 460 497 1,059 1,966 1,571 2,036 3,043 1,405 621 950 463 1,012 348 263 276 1,021 405 1,564 417 1,162 2.974 955 23 872 938 263 151 211 150 18,982 19,545 38,525 10. Expenditure on charltable activitles by fund type Unrestricted Funds Restricted Total Funds Funds 2025 West Bann Development Charity Support costs 89,690 38,874 125,321 64,370 215,012 103,245 128,564 189,691 318,257 Unrestricted Funds Restricted Total Funds Funds 2024 West Bann Development Charity Support costs 74,974 41,155 125,948 44,026 200,921 85,183 116,129 169,974 286,104 27
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 11. Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2025 Total fund 2024 West Bann Development Charity Governance costs 215,012 96,681 6,564 311,693 6,564 318,257 281,164 4,940 215,012 103,245 286,104 12. Analysis of support costs Analysis of 5UPPOrt costs activity 1 Total 2025 Total 2024 Staff costs Premises Communications and IT General office Finance costs Governance costs Insurance Consultancy fees Depreciation 62,826 10,859 5,870 1,533 977 6,565 1,773 8,189 4,652 62,826 10,859 5,870 1,533 977 6,565 1,773 8,189 4,652 48,052 11.026 6,013 2,943 1,154 4,128 2,296 6,772 2,113 84,497 103,244 103,244 13. Net expenditure Net expenditure is stated after chargingl{crediting)'. 2025 2024 Depreciation of tangible fixed assets 6,742 3,063 14. Auditors remuneration 2025 2024 Fees payable for the audit of the financial statements 5,210 3,950 28
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (¢ontlnued} Year ended 31 March 2025 15. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2025 2024 Wages and salaries Social security costs Employer contributions to pension plans 212,765 8,801 4,479 199,539 8,481 4,294 226,045 212.314 The average head count of employees during the year was 14 (2024.. 13). The average number of full-time equivalent employees during the year is analysed as follows.. 2025 No. 2024 No. Management Administration & Support Early Years Good Morning Causeway 14 13 No employee received employee benefits of more than £60,000 during the year (2024.. Nil). 16. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 17. Tangible fixed assets Fixtures and Creche Office IT fittings Equipment Equipment Equipment Total Cost At 1 April 2024 Additions 10,332 24,497 21,190 233 85,254 18,918 141,273 19,151 At 31 March 2025 10,332 24,497 21,423 104,172 160,424 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 8,402 443 19,671 881 21,016 138 84,530 5,280 133,619 6,742 8,845 20,552 21,154 89,810 140,361 Carrying amount At 31 March 2025 1,487 1,930 3,945 269 14,362 724 20,063 At 31 March 2024 4,826 174 7,654 29
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2025 18. Investments Investment properties Cost or valuatlon At 1 April 2024 and 31 March 2025 Impairnient At 1 April 2024 and 31 March 2025 Carrying amount At 31 March 2025 775,812 775,812 775,812 At 31 March 2024 All investments shown above are held at valuation. Investment properties Investment property has been valued by the directors at the year end date. The valuation is based on applying a suitable rate to the current rental income assuming full occupancy, in line with rates applying to similar properties in the locality. 19. Debtors 2025 2024 Trade debtors Prepayments and accrued income Other debtors 35,334 405 4,300 40,039 34,266 105 1,191 35,562 20. Creditors: amounts falling due withln one year 2025 2024 Trade creditors Accruals and deferred income Other creditors 4,364 12,267 961 14,191 9,315 1,566 17,592 25,072 21. Creditors: arnounts falling due after more than one year 2025 2024 Trade creditors Accruals and deferred income 70,637 22,615 15,915 19,052 34,967 93,252 30
West Bann Development Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 22. Deferred income 2025 2024 At 1 April 2024 Amount released to income Amount deferred in year At 31 March 2025 19,052 {13,887) 17,450 28,576 (9,5241 22,615 19,052 23. Pensions and other post retirement benefits Deflned contributlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4,479 {2024: £4,294). 24. Government grants The amounts recognised in the financial statements for government grants are as follows: 2025 2024 Recognised in creditors.. Deferred government grants due after more than one year 22,615 19,052 25. Analysis of charitable funds Unrestricted funds At 31 March 202 At 1 April 2024 Income Expenditure General funds Pre - incorporation unrestricted fund 3,248 69,212 72,460 113,196 1146,606} (30,162) 69,212 39,050 113,196 (146,606) Restricted funds At 31 March 202 At 1 April 2024 Income Expenditure West Bann Charity Restricted Fund Buildings Restricted Fund 47,882 743,165 230,204 9,524 (216,774) 61,312 752,689 791,047 239,728 (216,774) 814,001 31
West Bann Development Company Limited by Guarantse Notss to the Financial Statements (Contlnued) Year ended 31 March 2025 26. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Total Funds Funds 2025 2024 Tangible fixed assets Investments Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 1,457 18,606 775,812 115,621 (2,785) {93,252) 814,002 20,063 775,812 168,020 {17,591) 193,252) 853,052 7,655 775,812 140,081 (25,072) (34,967) 863,509 52,399 (14,806) 39,050 27. Financial instruments The carrying amount for each category of financial instrument is as follows= 2025 2024 Financial assets that are debt instruments measured at amortised cost Financial assets that are debt instruments measured at amortised cost 168,020 140.081 Financlal Ilabilities measured at amortlsed cost Financial liabilities measured at amortised cost 17,591 25,072 32
West Bann Development Company Limited by Guarantee Management Information Year ended 31 March 2025 The following pages do not fomi part of the flnancial statements. 33
West Bann Development Company Limited by Guarantee Detailed Ststement of Financial Activities Year ended 31 March 2025 2025 2024 Income and endowments Donations and legacies Donations received PCCT donation 8,266 1,830 1,712 1,500 10,096 3,212 Charitable actlvities IT and Educational Course Fees Early Years Course Fees Health and Wellbeing Course Fees DFC Regeneration Project DFC Health & Well Being Project DFC Churchlands Community Supporting Families TLP DFC Churchlands Community Supporting Families TLP -paid to schools Pathway Fund Garfield Weston The Clear Project Awards for All Causeway Coast & Glens BC Job Start Scheme Neighbourly Coleraine Sure Start {2 year old programme) NHSCT Multiply l RVRA Big Lottery I COAST Deferred income for capital expenditure released ESF - Learn to Earn Boys and Girls Club Police Community Safety Partnership Bytes 28,124 8,610 660 28,871 61,191 2,800 61,109 {59,747} 18,000 8,508 62,310 2,925 64,164 (62,734) 20,000 15,000 3,003 586 3,500 19,708 500 65,571 150 2,376 25,150 13,887 3,800 65,035 25,433 9,524 1,477 1,350 999 1,800 1,000 802 274,530 230,912 Other trading activities 34
West Bann Development Company Limited by Guarantee Detailed Ststement of Financial Activities (contlnued) Year ended 31 March 2025 2025 2024 Fundraising events Hall Rent Board Room Rent IT Suite Rent Unit Rent Catering Provision Consultancy Photocopying I Printing Services 7,156 5,642 1,913 1,536 19,970 1,580 28,951 68 22,006 (2,380} 96 19,413 1,173 12,138 359 66,816 52,805 Investment income Bank interest receivable 1,482 1,693 Total income 352,924 288,622 35
West Bann Development Company Limited by Guarantee Detailed Statement of Financial Activities (continued) Year ended 31 March 2025 2025 2024 Expenditure Costs of other trading activities Wages and salaries Employer's NIC Pension costs Rent Rates and water Light and heat Repairs and maintenance Insurance Legal and professional fees Telephone Other office costs Depreciation Bank charges Heating fuel Postage Office stationery Computer repairs and servicing Computer software Cleaning 26,102 1,550 574 21,064 65 460 497 1,059 1,966 1,571 2,036 3,043 1,405 621 950 463 1,012 348 263 276 1,021 405 1,129 2,253 1,269 1,573 3,679 1,330 178 2,090 439 949 283 213 392 915 205 45,123 38,525 Expendlture on charitable activities Wages and salaries Employer's NIC Pension costs Rent Light and heat Repairs and maintenance Insurance Vehicle leasinglhire Other motorltravel costs Legal and professional fees Telephone Other office costs Depreciation Printing Course expenses - computer l educational Course expenses - recreational l exercise Course expenses - early years Course expenses - complementary therapies Course expenses - community engagement Course expenses - youth engagement 186,663 7,251 3,905 4,150 5,015 2,826 1,773 220 950 6,344 2,960 2,664 4,652 2,283 9,606 11,751 250 12,769 2,228 3,581 178,475 8,416 3,834 6,925 4,376 3,496 2,296 140 785 4,800 3,126 2,757 2,113 1,451 7,996 12,927 520 11,495 1,017 377 Carried ft)rward 271,841 257,322 36
West Bann Development Company Limited by Guarantee Detailed Ststement of Financial Activities (continued) Year ended 31 March 2025 2025 2024 Brought forward 271,841 257,322 Course expenses - other Creche expenses Craft materials Catering Advertising Training Consultancy fees Heating fuel Postage Office stationery Computer seNicing & repairs Computer Soare Cleaning Donations Bank fees 80 549 60 3,987 274 115 479 5,189 422 495 13,453 2,253 775 585 613 2,273 901 200 1,029 286,104 33,906 2,113 630 474 873 2,037 456 977 318,257 Total expenditure 363,380 324,629 Net expendlture 110,456) (36,007) 37
West Bann Development Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 March 2025 2025 2024 Costs of other trading activities Rent. hire and providing services Staff costs Other trading activity 1- employerfs NIC Other trading activity 1 pension costs Other trading activity 1 rent Water charges Electricity Premises repairs & maintenance Insurance Consultancy fees Telephone and internet Miscellaneous Depreciation Bank charges Heating fuel Postage Office stationery Computer repairs and servicing Computer software Cleaning 26,102 1,550 574 21,064 65 460 497 1,059 1,966 1,571 2,036 3,043 1,405 621 950 463 1,012 348 263 276 1,021 405 1,129 2,253 1,269 1,573 3,679 1,330 178 2,090 439 949 283 213 392 915 205 45,123 38,525 Costs of other trading activities 45,123 38,525 38
West Bann Development Company Lirnited by Guarantee Notes to the Detailed Statement of Financial Activities (continued) Year ended 31 March 2025 2025 2024 Expenditure on charltable activitles West Bann Development Charity Activities undertaken directly Staff costs Direct charitable activity 1 employer's NIC Direct charitable activity 1 pension costs Rent Travel costs Miscellaneous expenses Printing Course expenses - computer l educational Course expenses recreational l exercise Course expenses - early years Course expenses - complementary therapies Course expenses - community engagement Course expenses - youth engagement Course expenses - other Creche expenses Craft materials Catering Advertising Training Consultancy fees 128,565 3,801 2,627 4,150 950 2,234 2,283 9,606 11,751 250 12,769 2,228 3,581 80 99 60 3,987 274 131,591 8,272 2.810 6,925 785 1,374 1,451 7,996 12.927 520 11,495 1,017 377 115 479 5,189 422 495 6,681 25,717 215,012 200,921 Support costs staff costs Support charitable activity 1- employer's NIC Support charitable activity 1 pension costs Electricity Premises repairs & maintenance Insurance Telephone and internet Miscellaneous Depreciation Creche expenses Consultancy fees Heating fuel Postage Office stationery Computer repairs & servicing Computer Soare Cleaning Donations Bank fees 58,098 3,450 1,278 5,015 2,826 1,773 2,960 430 4,652 450 8,189 2,113 630 474 873 2,037 456 46,884 144 1,024 4,376 3,496 2,296 3,126 1,383 2,113 6,772 2,253 775 585 613 2,273 901 200 1.029 977 Carried forward 96,681 80,243 39
West Bann Development Company Limited by Guarantee Notes to the Detailed Ststement of Financial Activities (continued) Year ended 31 March 2025 2025 2024 Brought forward 96,681 80,243 96,681 80,243 Governance costs Governance costs - subscriptions Governance costs - audit fees Govemance costs - legal and other professional fees 220 5,360 984 140 4,745 55 6,564 4,940 Expendlture on charitable activities 318,257 286,104 40