The Corrymeela Community (a company limited by guaranlee) Statement of financial activities (incorporating summary income and expenditure account) for the year ended 31 March 2024 Unresiricled Funds Reslricled Total funds funds 2024 Toial funds Notes Income and Endowments Income from generated funds Donations and legacies Oiher Irading aciivities Income from investments 406,752 ,574 57.762 502,961 I,S74 57,762 31,325 159.975 26.619 I crfj.c￿o Capilal granls Income from charitable activities Residential incoffle 625,866 625,866 668.129 546.081 609.307 OihLr projecls Other income Sundry income Exchange rate gain Total income and endowments 668.129 40,667 40,667 668 1,223,946 704..138 1,928.284 1.707,788 Exptnditure Expenditure on raising funds Cosis of generating voluniary income Fundraising Iradin8.' cost of goods sold and oihLr Costs Expenditure on charitable activllies Proieci work Resideniial expenses Other outgoing resources Loss on disposal of assels Tot41 resources expendedlexpenditure Gain l (Loss) on inveslmenl asse15 85,507 85,S07 71,150 75 7S 148,411 969,4.38 604,340 71,480 7S2,771 1,040,918 702,432 915,.l84 61 61 576 ,20.1,512 40,476 675,820 1,879,332 40,476 1.689,846 {24,746) 10 Net income before transfers 60,910 28,518 89,428 (6,804) Gross Iransfers between funds 15& 16 Net movement in funds 60,910 5,820.506 5,881,416 28,518 495,771 524,289 89A28 6,316,277 6,405,705 16.804) 6.321,081 6.316,277 Fund balances broughl forward at l April Fund balanees Carried forward at 31 March 15& 16 The slatemenl ot financial activities includes all gains and1055es recogni5ed in the year. All income and expenditure derive from continuing aclivilies. The statemen( of financial activities also complies wilh the requiremenls for an income and expendilure account under the Companies Aci 21X)6, The nore5 on pages 20 10 14 form pari of Ihese financial statements. 17 The Corrymeela Community (a company Ilmited by gupdrantee) Balance sheet as at 31 March 2024 Total funds 2024 Toial funds 2023 Noies Fixed assets Tthngible asse15 InvL%imenis 3,961,910 49YI,452 4,4S1362 4.081.63.1 -395.745 4,477.178 10 Totni fixed assets Current a55ets D¥'biors 12 76,223 2,069,445 2,145,668 (192,32S} 1,953,343 6,405,705 6,405,705 99,974 1.910,492 2,010,465 1191,567) 1.818,898 6,316.277 6,116,277 Cash ai bank and in hand Total eurrent assets Credilors: amounis falling due wiihin one year Net current assets Totol assets less current Ilabilities Net assets Totsl funds of the eharity: Unrestrieled ineome funds General 15 595,294 5,28&122 5,881,416 $24,289 6AOS,705 574.103 5,246,201 5,820.506 495,771 6..116,277 Designated 15 Restricted ineome funds 16 Total charity funds These financial slatemenls have been pr¢pared in accordance wilh the provisions applicable 10 companies subjecl lo Ihe small compnnies regime. The accounis were approved by the Council on. Brid Cullen Chair Edward Lane Hortor8ry Treasurer The noies on pag¢s 20 to 34 form part of these financial siaiemenis. 18 The Corrymeela Community (a company limited by guarantee) Re815tered number: Nl 06823 Statement of cash flows for the year ended 31 March 2024 Note 2024 Cashflows from operating aclivilies Cash generated from operations Investing Aclivilies Invesimenl income 21 135,422 13.1.952 10523 47.239 7,925 18,694 (340.696) (.10,954) .10.581 Interest received Purchase of langible fixed assets Additions lo inveslmenls (216033) 162,602 Disposal of inveslmenls Net cash used in investing activities 3J31 {314.450) Increase in cash and cash equivalents in the year 138,953 (180,498) Cash and cash equivalents at the beglnning of the ear 1,930,492 2,110,990 Cash and cash equivalents al the end i)f ihe year 2,069,445 1,910,492 Relating to: Cash at bank and in hand 2,069h45 1.910.492 19 The Corrymeela Community (a company limlted by guarantee) STATEMENT OF ACCOUNTING POLICI Charity information The Corrymeela Community is a privaie company limiied by guarantee incorporaied in Northern Ireland. The registered office address is 5 Drumaroan Road. Ballycasile, B T54 6QU. A summary of ihe accounting policies, which hav¢ been applied con5islenily, is sel out below. (a) Basis of preparation The financial slalemenis have been prepared in accordance with Accounling and Rewrting by Charities: Sialemenl of Recommended Practice applicable (o charilies preparing their accounls in accordance wilh the Financial Reporling Siandard applic&ble in (he UK and Republic of Ireland IFRS 102) (as amended lor accouniing periods commencing from l January 2016). The Corrymeela Communiiy meets the definiiion of a public henefil enlily undLr FR.8 102. Assets and liahiliiies are initially recognised ai hisiorical eos( or transaciion value unless oiherwise staled in Ihe relevant accouniins policy noie{s). The financial siatemenis are prepared in slerling, which is ihe funclional LurrLncy of the Charity. Monetary amounis in these financial SlalLmenls arL round lo IhL nearest £. The principle accounling policiLS Jdopled ArL sel oul below. (b) Going concern At the time of approving IhL financial $lalLmenis. Council has a reasonable expecwiion ihai ihe Charily has adequale resources lo continue in operaiional exisienLe for Ihe foreseeable fuiure. Thus Council conlinues lo adopl lh¥ going concern basis of accouniing in pr¢'parin8 Ihe financial slaltymonls. (e) Income reeognition Income is recognised when Ihe Charity has enliilemenl lo ihe tund5, any performance condilions atlached lo Ihe ilemls) of income have been mel, il is probable Ihat ihe incorne will be received and Ihe amount can be measured reliably. Doiiafioiis Donaiions are received by way of grants, donaiions and gitls and are included in full in ihe Siatemeni of Financial Aciiviiies when receivable. i£sacies Legacies are recognised when received or when Iheir amouni is capable of measuremenl, Eniillem¢Dts to malerial legacies which are noi included are disclosed in Ihe notes. Charitable sliop iiicoiiie Go(Kls for resale are included a5 income in the period the g(K)ds are sold. Revenue is recognised upon sale and when the lille lo ihe product is Iransferred to CUStomer5. Oflier iiiconiiii8 iysoiirces Project income. leiiings and oiher income are included in full in th¢ Siat¢m¢nl of Pinancial Activilics whcn receivable. Gropils Revenue granls are credited io incoming resources on the earlier dale of when Ihey are received or when Ihey 20 The Corrymeela Community (a company limited by guarantee) are receivable, unless (hey relate 10 a specified future period, in which case they are deferred. Granis for Ihe purpose of capital expendiiure are crediied 10 resiricied incoming resources when receivable and Iransferred io unfesiricted funds on purchase of Ihe assei. {d) Intercst receivable nleresi on funds held on deposit is included when receivable and the amount can be measured reliably by the Charily; thi5 15 normally upon notificalion of Ihe inlere51 paid OT payable by the Bank. (e) Fund Aecountin8 The Communiiy has various (y￿S of funds for which li is responsible and which require separaie disclosure. Definiiions of the various types of funds are as follows: Reslricfedfiiiid5 Funds received which are earmarked by Ihe donor for specific purposes. Such purposes are within Ihe overall aims of ihe Communiiy. Desigiialedfiiiids Funds received which are eaTmarked by Ihe charily for specific purposes. Such purposes are wiihin (he overall aims of Ihe Community. Uiireslrictedfiliids Funds which are expendable al ihe discretion of the council members in furtherance of Ihe objects of the Communily. In dddilion to CXPLndilure on pr()jecis and oiher aclivllies, such fund5 may be held in order io finance capilal inveslmenl and working capilal. (O Expenditure and irreeoverAble VAT Expenditure is recognised once there is a legal or conslructive obligalion to make a payment to a third party. it is probable Ihal seiilemeni will be required and the amounl ofihe obligalion can be measured reliably. Irrecoverable VAT is charged as a cost against Ihe aciiviiy for which Ihe expendilure was incurred. Expenditure has been classified under headings thai a88regate all costs relaled lo Ihe category. Where cosis cannol be directly atlributed io pariicular headings Ihey have been allocaied to aciiviiies on a basis consisienl wilh use of Ihe resources. cosis and overhead expenses are allocated to activities on Ihe basis orS￿￿'t1me spen( on those aciivilies. Cosi of raisiiigfiiiids These include (he salaries, dire¢1 expendilure and ovethead cosis of Slaff who promote lundraising, including evenls and mailings. Chariiable aciiviiies Chariiable expenditure comprises those costs incurred by the charity in (he delivery of lis activities and services for ils beneficiaries. li includes boih costs that can be allocated direcily lo such activities and those cosls of an indir¥cl nature necessary to supply them, Support costs are allocaled lo their relevanl activity based on the income received. (g) Foreign currencies Transaciions denominaied in foreign currencies are translaied at ihe exchange raie ai ihe dale ot ihe Iransaciion. All moneiary asseis and liabilities denominaied in foreign currencies are iranslaied ai the raie of exchange ruling ai the balance sheet dale or ihe exchange raie of a relaied foreign exchange contract where appropriate. Non-moneiary assets and liabiliiies denominaled in foreign curTencies are Iranslaled al Ihe rate of exchange al Ihe dale of Ihe transaclion. The resuliing gain or1055 15 dealt wilh in the 5tatemenl of financial aclivities. 21 The Corrymeela Community (a company limited by guarantee) (h) Tangible fixed assets and depreciation Tangible a5seis are stated al cost less accumulaied depreciaiion and any impairment losses. The cosl of tangible fixed assels is their purchase cosl, together wilh any incidenlal cosls of acquisition, Dcprcciation is calculaied so as lo wriie off Ihe cosl of tangible fixed assels, less Ihcir eslimaled residual values over ihe expecled usetul economic lives of Ihe a55¢15 concerned. The principal annual rates used are as tollow5- Freehold land and buildingb Compuler equipmenl Furniture and Equipmenl Motor vehicles vn Lubl on cost 20 on wriiien down values 12.5 125 on cosi The company has a policy lo capilalise all item5 > £ I.(￿. (i) Impairnient of fixed assets At each reporting dale, the Charily reviews the carrying amounts of its tangible assels lo delermine whelher there is any indicalion Ihal those assets have sulYLred an impairmenl loss. If any such indicalion exisls, Ihe recoverable amounl of Ihe ass¢1 15 eslimated in order lo determine ihL exlenl of the impairmenl1055 (if any). U) Investments Invc51mcnls in subsidiary undLrtakings arc slated ai c051, bul are wriiien down lo Iheir realisable value if il is considerLd Ihat IhLrL has b¢L'n an impairment. nveslmenls tirL illLludLd lll clo.sing mid-markel value al Ihc balance sheei dale. Any realised and unrealisLd gains and losses on rL'vuluJli(In or disposuls arL coinbined in Ihe SiaiLmLni of Financial Aciiviiies. li is Ihe Chariiy's policy 10 kcLP valuuli(?ns up to dale suLh ihai when invesimLnis arL sold Ihere is no realised gain or loss arising. As a resuli ihL Siaiemeni of Financial AL'livilies does noi disiinguish be(ween IhL valuaiion adjustmenis relaiin8 to sales and Ihose reloiing 10 coniinued holdings as Ihey are iogeiher Ireated as chun8es in Ihe invesiment porifolio Ihroughoui Ihe year. Movemenis in value arising from Invesimeni changes or revaluation and Ihe profil on disposal of inyestments have been charged or crediied 10 Ihe funds lo which they relate. (k) Debtors Trade and other debtors are slated afier all known bad debts have been written off and specific provision has been made againsi all debis considered doubiful of colleciion. Prepaymenis are valued ai the amouni prepaid nei of any Irade discounis due. (l) Cash and cash equivvdlents Cash and c&sh L4uivalLnls include Ldsh and short term hishly liquid invLslmenls wilh a short maluriiy of Ihree monihs or less from lh¢ dale of acquisition or opening of lh¢ d¢p0511 or similar Kcount. (m) Creditor5 and provisions Credilors and provisions are recognised where Ihe chariiy has a preseni obligalion resulting from a past event Ihat will Probably resuli in the transfer of lunds 10 a Ihird pariy and Ihe amouni due to settle Ihe obligaiion can be Ineasured or esiiinaied reliably. Crediiors and provisions are normally recognised ai iheir seiilemeni amount after allowing for any irade discounis due. (n) Finantlal instrnments The Charity only has financial asseis and financial liabilities of a kind that qualify as basic financial inslruments. Basic financial inslrumen15 are inilially [￿QgnIsed at transaclion value and subsequently measured at Iheir seiilement value with Ihe exception of bank loans which are subsequenily measured al amorlised cost using the effective inieresl method. 22 The Corrymeela Community (a company Ilmlted by guarantee) (o) Pension Costs The Community operaies a defined coniribuiion pension scheme for Ihe tenefil of those of ils permanent slaff wishing io pariicipate. The assets of the scheme are administered by an insurance company in personal pension plans and axe held Inde￿nden1]Y from IhDse of Ihe Communiiy. Contributions are Charged to ihe Sia*ment of Financial Aclivilies in IhL period io which they Tclale. (p) TAxation No provision is required for taxation as ihe company is defined us a chariiy for iaxaiion purposes. (q) Employtt Benefits The cosls of shori-ierm employee benefiis are recognised as a liability and an expense, unless Ihose costs are required lo be recognised as pari of the cosl of slock or fixed asseis. The co.st of any unused holiday enii(lemeni for siaff is recognised in Ihe p¢*riod which Ihe employees, services arL fLLLlVCd. Termin(Ili()n bcnLfil.5 arL fcL()gni%Ld ifflmL.dialcly a5 an cxpcn.se when Ihe company is demorjslrably ¢ommii¢ed to lerminale the empluymenl of an employee or lo provide lerminalion bcnefils. (rl Operating Loase5 Rentals under operaling leases are charged lo the Stalement of financial aclivilie5 on a slraighi line basis over Ihe lease lerm5. (s) Critical estimates and judgements In Ihe applicalion of Ihe Charity's accounlin8 policies, Council are required to make judgemenls, eslimales and assumplions aboui ihe carrying amount of assels and liabilities Ihal nre not r¢adily apparent from oiher sources. The eslim&le5 and as50ciaied assumptions are bo5ed on historical experience and other faclors that are considered lo be relevanl. Actual resulis may differ from these esiimales. The eslimales and underlying assumplions are reviewed on an ongoing basis, Revisions io accouniing es1imale& are recognised in Ihe period in which ihe esiimuie is revised where Ihe revision affeLiS only thai pcri()d, or in ihe p¢riod of the revision and future periods where Ihe revision affecis boih current and tuiure PLri()ds. 2.1 The Corrymeela Community (a company limited by guarantee) Income Unreslricted funds Restricted funds 2024 Incoming resources Voluntary income Donations 2.36,209 2.10.541 271418 230543 502,961 211,865 128,110 159.975 Legacies 466,752 -36,209 Other trading aelivities Shop income ,574 I￿74 Income from inveslments Dividend income 10.52.1 47.2.19 10,523 47339 57,762 7,925 18.694 26,619 Bank inieresi 57,762 Other projefts Comfflunily Relations Council DLparlmenl of Foreign Al'tairs and TradL' DOH Mental Healih Fund CFNI 50,572 16().06Y 245,419 119,444) 50J72 160,069 245,419 (19,4441 53,742 67.655 161.102 120,248 Education Authority National Heritage Lollery Fund Belfast City Council PEACE IV NICRC - CRCD Fund 2,415 Rolary Clubs - Seeds Trf Hop Langdale Tw5t The Brillsh Council 45,777 45.777 4,000 1,500 so,000 4,CA)O 1,5(NJ 50.000 Dc)rmant Ac¢oun(s Henry Luce Foundation Blue Pilgrim VSB Foundalion Pilgrim Granl Ireland Funds 81.814 iO.O(M) 7,5(X) 4,(K)O 2,500 9,994 60,(X)O 668,129 4,000 2Jl)O 9,994 60,000 668,129 Oih¢r granls 26,571 Other income Sundry income 40,667 40,667 61.412 40,667 40ffj67 61,432 The income from legacies and donations was £502,961 of which £446,752 was unreslricled (2021.. £151,040) and £16,209 was restricled12023: £8.935). Aclivitics tor generating funds, inveslment income and other resources were all unre5tri¢led 12023 all unre51riclrd) whi151 other project income was reslricted (2023 reslri¢led}. 24 The Corrymeela Community (a company limited by guarantee) Costs of generating voluntary Income Unreslricted lunds Reslricled funds 2024 Salaries, wages llnd pensions Other Staff Cos15 5.1.882 9D.3 53082 903 18,880 Fundraising maierials Publicily Renl & office overheads 9.678 4,989 778 9.678 4,989 778 7,007 Computer mainlenance & software Consultancy Exchange rale loss Banking charges Siaiionery, prinling and poslage Oih¢r support cosis 10,7.30 i.￿0 10,730 1,000 29 10.887 29 2,568 455 2,568 455 2,449 949 495 85,507 495 8S,507 Expendilure on cosls of generating volunlary income was £85,507 all of which was unreslricled (2021.. £71,150> and £NIL was reslricled (2021,. £NIL). 669 71,150 Expenditure on charitable activities Project work Residential expen Total 2024 Toial Salaries, wages and pensions Volunteering Other siafl. cosis .191.264 17,864 17,7.36 609.81 1,001,075 17,864 21122 I 19,662 124,631 99,273 207J21 91,574 31,961 37219 902,110 14,925 19,565 Depreeiulion Cenire overheads 119,657 124,6.11 90,787 148.896 Food 8.486 74.685 171,598 59,678 Programme expenses ConfeTencLs 201,494 77,070 14,5( 20,620 Group iranspori Computer maintenance & soliwar Office rent 4,687 1,976 10,848 752,771 702.4.32 11,976 28AII 1,793,689 12,087 Oiher support c0515 Total 2024 1,040,918 915.384 Total 2023 1,617,816 Expendiiure on charitable activities was £1,79.1,689 of which £l.117,869 was Unre￿[]C1ed (202.1: £ I,(K)7,505) and £675,820 was resiricted (2023.. £610.311). 25 The Corrymeela Community (a company limited by guarantee) Net income/(expenditure) 2024 Net ineomel(expendlture) stated after chargingl(crediting): Siaff costs (nole 6) Depreciaiion of iangible fixed assets - owned assets FLes payable 10 Ihe company's audiiors for ihe audii of the financial statements ()peraling lease charge.s - plant and machinery Loss (gain) on disposal of fixed assels DirLclors' indemnity insurance 1,025,157 119,662 6,600 1.675 61 906,743 123.292 6.6(X) 2.052 (576) 2.456 2,436 Employee Informatlon 2024 SIAff costs: Wages and salaries SuL'ial s¢Lurily L'usls, Other pension costs 903,918 73,013 48,226 1,025,157 794,699 68,1(K) 9()6,741 Included in employee costs in IhL Sialemenl of Financial Aclivilies Is an amounl of £67.802 (2021: £14.246) relaiing 10 (he Ll)si of IL'iiiporarylcasual slaff and rLcruiliiiLni cosls. Number Number Avera8e monthly number of persons employed by the Community during the year by locatlon Belldsl Ballycasile 25 25 30 There are no employees falling in emolumenls band over £60.(K)O in eiiher th¢ Cu￿ent or the previous financial year. I'he key mdnd¥emeni personnel uf ihe Lh