The Corrymeela Community
(a company limited by guarantee)
Statement of financial activities (incorporating summary income and expenditure account) for the year ended 31 March 2025
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----- Start of picture text -----
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Notes|UnrestrictedFunds|Restrictedfunds|Total funds2025|Total funds2024|
|£|£|£|£|
|Income|and|Endowments|.|7|,|,|
|Income|from|generated|funds|
|-|Donations|and|legacies|2|382,062|4,358|386,420|502,961|
|-|Other trading activities|2|1,746|-|1,746|1,574|
|-|Income from investments|2|66,555|-|66,555|57,762|
|-|Capital grants|:|-|-|31,325|
|Income|from|charitable|activities|
|-|Residential|income|770,450|-|770,450|625,866|
|-|Other projects|2|;|309,768|309,768|668,129|
|Other|income|
|-|Sundry income|2|14,411|14,411|40,667|
|-|Exchange|rate|gain|-|
|Total|income and endowments|1,235,224|314,126|1,549,350|1,928,284|
|EEO|
|Expenditure|LON|
|Expenditure|on|raising|funds|
|-|Costs of generating voluntary|income|3|88,218|-|88,218|85,507|
|-|otherFundraisingcosts|trading: cost of goods sold and|143|-|143|75|
|Expenditure on|charitable|activities|
|-|Bgoject work|4|148,219|426,168|574,387|752,771|
|~|Residential|expenses|4|1,058,811|41,920|1,100,731|1,040,918|
|Other outgoing|resources|
|-|Loss on disposal|of assets|547|-|547|6l|
|OTSS|
|Total|resources expended/expenditure|1,295,938|468,088|1,764,026|1,879,332|
|TN|
|Gain on|investment|assets|10|11.739|-|11,739|40,476|
|S—|
|SS aa|ann|ee ee|
|Net income before transfers|(48,975)|(153,962)|(202,937)|89,428|
|Gross|transfers|between|funds|1S|&|16|-|-|-|-|
|eee|
|Net movement|in funds|(48,975)|(153,962)|(202,937)|89,428|
|Fund balances brought|forward|at|I|April|5,881,416|524,289|6,405,705|6,316,277|
|HE|
|Fund|OS|EOE|
|rer|balances carried forward|at 31 March|15 &|16ye5,832,441|370,327|6,202,768|ppg6,405,705|
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The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
The notes on pages 19 to 33 form part of these financial statements. 17
The Corrymeela Community (a company limited by guarantee)
Balance sheet as at 31 March 2025
| Total funds | Total funds | ||
|---|---|---|---|
| 2025 | 2024 | ||
| Notes | £ | ||
| Fixed assets | |||
| Tangibleassets | 9 | 3,849,903 | 3,961,910 |
| Investments | 10 | §11,333 | 490,452 |
| Totalfixedassets 4,361,236 4,452,362 2 Eee |
|||
| Current assets | |||
| Debtors | 12 | §2,287 | 76,223 |
| Cash atbankand inhand | 1,965,842 | 2,069,445 | |
| Totalcurrent assets | 2,018,129 | 2,145,668 | |
| Creditors:amounts fallingduewithinoneyear 13 (176,597) (192,325) pr he |
|||
| Netcurrentassets | 1,841,532 | 1,953,343 | |
| Totalassets less currentliabilities | 6,202,768 | 6,405,705 | |
| Netassets 6,202,768 6,405,705 ee te |
|||
| Total fuads ofthecharity: | |||
| Unrestricted income funds | |||
| General | IS | 670,520 | $95,294 |
| Designated | 15 | 5,161,921 | 5,286,122 |
| 5,832,441 | 5,881,416 | ||
| Restricted incomefunds | 16 | 370,327 | $24,289 |
| Totalcharityfunds 6,202,768 6,405,705 eee see ae |
|||
| I ——_—_____ = |
These financial staternents have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The accounts were approved by the Council on 17 June 2025.
Eleanor Hayes Chair
Edward Lane
Honorary Treasurer
The notes on pages 19 to 33 form part of these financial statements.
18
The Corrymeela Community
(a company limited by guarantee)
Registered number: NI 006823 Statement of cash flows for the year ended 31 March 2025
| Note | 2025 | 2024 | |||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Cashflowsfrom operating activities | : | , | |||||
| Cash generatedfrom operations | 21 | (147,180) | 135,422 | ||||
| InvestingActivities | ~ | ~ | |||||
| Investment income | 12,109 | 10,523 | |||||
| Interest received | 54,446 | 47,239 | |||||
| Purchaseoftangible fixed assets | (13,836) | E: | |||||
| Additions to investments | (56,470) | (216,833) | |||||
| Disposal ofinvestments | 47,328 | 162,602 | |||||
| Netcash used ininvesting activities | 43,577 | 7 3,531 | |||||
| (Decrease)/Increase in cashandcashequivalents “intheyear _ Z |
—— 7 (193,603) |
. | 138,953 | ||||
| “Cash and cashequivalents atthe begin ngofthe year |
=——ssSss=~sS«S gg gg 3 ’ bs |
Wine. ’ ? |
|||||
| Cash and cash equivalents at the end ofthe year | 1,965,842 | - | 2.069.445 | ||||
| ee | |||||||
| Relatingto: s—s | Oe | —— | |||||
| Cash at bank and in hand ——— |
1,965,842 | 2,069,445 |
19
The Corrymeela Community (a company limited by guarantee)
ib STATEMENT OF ACCOUNTING POLICIES
Charity information
The Corrymeela Community is a private company limited by guarantee incorporated in Northern Ireland. The registered office address is 5 Drumaroan Road, Ballycastle, BT54 6QU.
A summary of the accounting policies, which have been applied consistently, is set out below.
(a) Basis of preparation
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019).
The Corrymecla Community meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The financial statements are prepared in sterling. which is the functional currency of the Charity. Monetary amounts in these financial statements are round to the nearest £.
The principal accounting policies adopted are set out below.
(b) Going concern
At the lime of approving the financial statements, Council has a reasonable expectation that the Charity has adequate resources to continuc in operational cxistence for the foreseeable future. The Council continues to adopt the going concern basis of accounting in preparing the financial statements.
(c} Income recognition
a Income is recognised when the Charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Donations
Donations are received by way of grants, donations and gifts and are included in full in the Statement of Financial Activities when receivable.
Legacies
Legacies are recognised when received or when their amount is capable of measurement. Entitlements to material legacies which are not included are disclosed in the notes.
Charitable shop income
Goods for resale are included as income in the period the goods are sold. Revenue is recognised upon sale and when the title to the product is transferred to customers.
Other incoming resources
Project income, lettings and other income are included in full in the Statement of Financial Activities when receivable.
Grants
20
The Corrymeela Communitye (a company limited by guarantee)
.
Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred.
Grants for the purpose ofcapital expenditure are credited to restricted incoming resources when receivable and transferred to unrestricted funds on purchase of the assct.
(d) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the Bank.
(e) Fund Accounting
The Community has various types of funds for which it is responsible and which require separate disclosure. Definitions of the various types of funds are as follows:
Restrictedfunds
Funds received which are earmarked by the donor for specific purposes. Such purposes are within the overall aims of the Communily.
Designatedfunds
Funds received which are earmarked by the charity for specific purposes. Such purposes are within the overall aims of the Community.
Unrestrictedfunds
Funds which are expendable at the discretion of the council members in furtherance of the objects of the Community. In addition to expenditure on projects and other activities, such funds may be held in order to finance capital investment and working capital.
(f) Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Expenditure has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with use of the resources. Staff costs and overhead expenses are allocated to activitics on the basis of staff time spent on those activities.
Cost ofraisingfunds
These include the salaries, direct expenditure and overhead costs of staff who promote fundraising, including events and mailings.
Charitable activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activitics and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to supply them. Support costs are allocated to their relevant activity based on the income reccived.
(g) Foreign currencies
Transactions denominated in foreign currencies are translated at the exchange rate at the date of the transaction. All monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange ruling at the balance sheet date or the exchange rate of a related foreign exchange contract where appropriate. Non-monetary assets and liabilities denominated in foreign currencies are translated at the rate of exchange at the date of the transaction. The resulting gain or loss is dealt with in the statement of financial activities.
21
The Corrymeela Community (a company limited by guarantee)
’
(h) Tangible fixed assets and depreciation
Tangible assets are stated at cost less accumulated depreciation and any impairment losses,
The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost of tangible fixed assets, less their estimated residual values over the expected useful economic lives of the assets concerned. The principal annual rates used are as follows:
% Freehold land and buildings - 2 on cost Computer equipment - 33.33 on cost Furniture and Equipment - 20 on written down values Motor vehicles - 12.5/25 on cost
The company has a policy to capitalise all items > £1,000.
- (i} Impairment of fixed assets
At each reporting date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
- (j) Investments
Investments in subsidiary undertakings are stated at cost, but are written down to their realisable value if it is considered that there has been an impairment.
Investinents are included at closing mid-market value at the balance sheet date. Any realised and unrealised gains and losses on revaluation or disposals are combined in the Statement of Financial Activities. It is the Charity’s policy to keep valuations up to date such that when investments are sold there is no realised gain or loss arising. Asa result the Statement of Financial Activities does not distinguish between the valuation adjustments relating to sales and those relating to continued holdings as they are together treated as changes in the investment portfolio throughout the year. Movements in value arising from investment changes or revaluation and the is profit on disposal of investments have been charged or credited to the funds to which they relate.
(k) Debtors
Trade and other debtors are stated after all known bad debts have been written off and specific provision has been made against all debts considered doubtful of collection. Prepayments are valued at the amount prepaid net of any trade discounts due.
- (I) Cash and cash equivalents
Cash and cash equivalents include cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
(m) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount duc to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
{n) Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
22
The Corrymeela Community (a company limited by guarantee)
(0) Pension Costs
The Community operates a defined contribution pension scheme for the benefit of those of its permanent staff wishing to participate. The assets of the scheme are administered by an insurance company in personal pension plans and are held independently from those of the Community. Contributions are charged to the Statement of Financial Activities in the period to which they relate.
(p) Taxation
No provision is required for taxation as the company is defined as a chanity for taxation purposes.
(q) Employee Benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement for staff is recognised in the period which the employees’ services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
(r) Operating Leases
Rentals under operating leases are charged to the Statement of financial activitics on a straight line basis over the lease terms.
(s) Critical estimates and judgements
In the application of the Charity’s accounting policies, Council are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are bascd on historical expericnce and other factors that are considered to be relevant. Actual resul(s may differ from these estimates
i The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
23
The Corrymeela Community
(a company limited by guarantee)
2 Income
| 2 Income |
|||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | 2025 | 2024 | ||
| £ | £ | £ | £ | ||
| “Incomingresources. | |||||
| Voluntary income | |||||
| - Donations | 344,044 | 4,358 | 348,402 | 272,418 | |
| - Legacies | 38,018 | - | 38,018 | 230,543 | |
| 382,062 | 4,358 | 386,420 | $02,961 | ||
| Othertrading activities | = 8 | OO | |||
| - Shop income | 1,746 | ~ | 1,746 | 1,574 | |
| ‘Incomefrominvestments | s—<Csti‘“—ss‘“‘“‘<a‘(sé | ||||
| - Dividend income | {2,109 | - | 12,109 | 10,523 | |
| - Bank interest | 54,446 | - | 54,446 | 47,239 | |
| OE | 66,555 | - | 66,555,57,762 | ||
| “Otherprojects | |||||
| Community Relations Council | = | 52,157 | §2,157 | $0,572 | |
| Department ofForeign Affairs | and Trade | - | 124,005 | 124,005 | 160,069 |
| DoH Mental Health Fund CFNI | - | 2,000 | 2,000 | 245,419 | |
| Education Authority | - | - | = | (19,444) | |
| National Heritage Lottery Fund | - | 27,906 | 27,906 | 53,742 | |
| Rotary Clubs - SeedsofHope | - | 32,300 | 32,300 | 45,777 | |
| Langdale Trust | - | 4,000 | 4,000 | 4,000 | |
| TheBritish Council | - | - | - | 1,500 | |
| Dormant Accounts | - | - | - | 50,000 | |
| Blue Pilgrim | - | 4,000 | 4,000 | 4,000 | |
| VSB Foundation Pilgrim Grant | - | 1,000 | 1,000 | 2,500 | |
| Ireland Funds | - | - | - | 9,994 | |
| Other grants | - | 62,400 | 62,400 | 60,000 | |
| ETT 309.768 —st«“‘«S ,7OBWSCS«~<C«BWLN |
|||||
| Otherincome | |||||
| Sundry income | 14.411} | - | 14,411 | 40,667 | |
| UBALst~—<“<s~ti‘ !””C«dASS~~~~~«SOST |
The income from legacies and donations was £386,420 of which £382,062 was unrestricted (2024: £466,752) and £4,358 was restricted (2024: £36,209). Activities for generating funds, investment income and other resources were all unrestricted (2024 all unrestricted) whilst other project income was restricted (2024 restricted).
24
.
The Corrymeela Community (a company limited by guarantee)
3 Costs of generating voluntary income
| Unrestricted | Restricted | |||
|---|---|---|---|---|
| funds | funds | 2025 | 2024 | |
| £ | £ | £ | £ | |
| Salaries, wagesand pensions | 47.453 | . | 47,453 | 53.882 |
| Fundraising materials Se 3) Rent& office overheads |
15.851 1,614 140 |
= - - |
15,851 1,614 140 |
9,678 4,989 778 |
| Computer maintenance& software | 11,269 | - | 11,269 | 10,730 |
| Consultancy | 7,404 | - | 7,404 | 1,000 |
| Exchange rate loss | 26 | - | 26 | 29 |
| Banking charges | 1,124 | - | 1,124 | 2,568 |
| Stationery, printing and postage | 580 | - | 580 | 455 |
| Othersupportcosts oo |
1,511 | - | 1,511 | 495 |
| 88,218 | : | 88,218 | 85,507 |
Expenditure on costs of generating voluntary income was £88,218 all of which was unrestricted (2024: £85,507) and £ENIL was restricted (2024: £NIL).
4 Expenditure on charitable activities
| Project | Residential | Total | Total | |
|---|---|---|---|---|
| work | expenses | 2025 | 2024 | |
| £ | £ | £ | £ | |
| eee Salaries, wages and pensions 322,824 619,901 942,725 1,001,075 |
||||
| Volunteering | 25,201 | 34 | 25,235 | 17,864 |
| Other staffcosts | 14,952 | 5,384 | 20,336 | 22,122 |
| Depreciation | 4 | 125,292 | 125,296 | 119,662 |
| Centre overheads | - | 135,543 | 135,543 | 124,631 |
| Food | 7,048 | 100,835 | 107,883 | 99,273 |
| Programme expenses | 107,130 | 10,938 | 118,068 | 207,821 |
| Conferences | 52,138 | 13,173 | 65,311 | 91,574 |
| Group transport | 17,171 | 37,047 | 54,218 | 31,961 |
| Computer maintenance& | 4,656 | 31,882 | 36,538 | 37,219 |
| software | ||||
| Office rent | 7,686 | - | 7,686 | 11,976 |
| Other support costs | 15,577 | 20,702 | 36,279 | 28,511 |
| Total 2025 | §74,387 | 1,100,731 | 1,675,118 | - |
| Total2024 | 752,771 | 1,040,918 | - | 1,793,689 |
Expenditure on charitable activities was £1,675,118 of which £1,207,030 was unrestricted (2024: £1,117,869) and £468,088 was restricted (2024: £675,820).
25
The Corrymeela Community (a company limited by guarantee)
5 Net income/(expenditure)
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|||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Net income/(expenditure)|stated|after charging/(crediting):|~|-|
|Staff costs|(note|6)|983,323|1,025,157|
|Depreciation|of tangible|fixed|assets|- owned|assets|125,296|119,662|
|Fees|payable|to|the|company’s|auditors|for|the|audit|of the|financial|statements|6,900|6,600|
|Operating|lease|charges|- plant and|machinery|3,265|1,675|
|Loss|on|disposal|of fixed|assets|547|61|
|Directors’|indemnity|insurance|1,827|2,436|
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6 Employee information
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||||||
|---|---|---|---|---|
|2025|2024|
|£|£|
|Staff|costs:|
|Wages|and|salarics|874,438|903,918|
|Social|security|costs|64,930|73,013|
|Other|pension|costs|43,955|48,226|
|983,323|1,025,157|
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9
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Included in employce costs in the Statement of Financial Activities is an amount of£106,957 (2024: £67,802) relating to the cost of temporary/casual staff and recruitment costs.
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|||||||||||
|---|---|---|---|---|---|---|---|---|---|
|Number|Number|
|Average|monthly|number|of persons|employed|by|the|Community|during|the|
|yearBy|location|
|Belfast|5|5|
|Ballycastle|26|25|
|31|30|
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rN
----- End of picture text -----
2025 2024
or more were:
7 Council members emoluments
No Council members (2024: NIL) received emoluments and two Council members (2024: 4) received reimbursement of expenses during the year of £733 (2024: £1,201).
26
The Corrymeela Community (a company limited by guarantee)
;
8 Taxation
The Community is a registered Charity (Charity No. NIC101597), and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activitics carried on in furtherance of the charity’s primary objectives, if these profits and surpluses are applied solely for charitable purposes.
The charity is not registered for VAT and accordingly, all its expenditure is recorded inclusive of any VAT incurred.
9 Tangible assets
| Freehold | |||||
|---|---|---|---|---|---|
| land& | Computer | Furniture& | Motor | ||
| buildings | equipment | equipment | vehicles | Total | |
| £ | £ | £ | £ | £ | |
| Cost | |||||
| At | April 2024 | §.963,219 | 87,630 | 480,039 | 7,520 |
| Additions | - | . | 13,836 | - | 13,836 |
| Disposals | - | (1,618) | (5.623) | - | (7,241) |
| At 31 March 2025 | 5,963,219 | 86,012 | 488,252 | 7,520 | 6,545,003 |
| Accumulated | |||||
| depreciation | |||||
| At | April 2024 | 2,039,566 | 87,630 | 441,782 | 7,520 |
| Charge for the year | 116,201 | - | 9,095 | - | 125,296 |
| Release on disposals | - | (1,618) | (5,076) | - | (6,694) |
| At31 March 2025 | 2,155,767 | 86,012 | 445,801 | 7,520 | 2,695,100 |
| Net book amount | |||||
| ‘At31 March 2025 | 3,807,452 | - | 42,451 | . | 3,849,903 |
| At31March2024 | 3.923,653 | - | 38,257 | 3,961,910 |
10 Investments
| Investments | |||
|---|---|---|---|
| Quoted | |||
| Investments | |||
| 2025 | 2024 | ||
| Market value | £ | £ | |
| At | April 2024 | 490,452 | |
| Additions at cost | 56,470 | 216,833 | |
| Disposals atmarket value | (47,328) | (162,602) | |
| Net gain on revaluation | 11,739 | 40,476 | |
| a | |||
| At 31 March 2025 | $11,333 | 490,452 | |
| Historicalcostat31March2025 | 419,636 | 400,963 |
All investments are held in managed portfolios by Evelyn (formerly Smith & Williamson).
27
The Corrymeela Community
(a company limited by guarantee)
| 11 Financial Instruments |
|||
|---|---|---|---|
| 2025 | 2024 | ||
| £ | £ | ||
| “Investmentsmeasured atfairvaluc==0SO—=~—“—~sSsSsSsSsSsSsS—S—CSsCSsti‘isésSSC“‘CZ BBS 490,45 |
|||
| 12 Debtors |
|||
| 2025 | 2024 | ||
| £ | £ | ||
| “Grantsreceivable == | —<CSsti‘<;7233 | 88280 | |
| Other debtors | 31,217 | 59,023 | |
| Prepayments and accrued income | 10,247 | 17,200 | |
| S288F 76,223 |
|||
| 13. Creditors: amounts falling duc within one year |
|||
| 2025 | 2024 | ||
| £ | £ | ||
| “Tradecreditors ss |
ssiti‘“<OO | 88,219 | 56,155 |
| Othertax and social security | 19,017 | 21,475 | |
| Accrualsand deferred income | 127,361 | 114,695 | |
| OO SS lll |
176,597 | «192,325 | |
| 14 Financialcommitments |
At 31 March 2025 the company had annual commitments under non-cancellable operating leases expiring as follows:-
| Plant& machinery Land and buildings |
Plant& machinery Land and buildings |
|
|---|---|---|
| 2025 | 2024 2025 2024 |
|
| £ | £ £ £ |
|
| “Withinoneycar st—<“‘S™SS”””””O”OOC*O CUT”:C«S BBG OB |
||
| Within two to five years | - | - 12,407 - |
| OO | - | ——S877—<“<i~*‘éz OWS |
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OB
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28
The Corrymeela Community (a company limited by guarantee)
15 Unrestricted income funds
| Transfers | ||||||||
|---|---|---|---|---|---|---|---|---|
| Balance | Unreatised | to/from | Balance | |||||
| 1 April | profiton | Incoming | Utilised/ | general | 31 March | |||
| 2024 | investment | resources | released | fund | =Transfers | 2025 | ||
| £ | £ | £ | £ | £ | £ | £ | ||
| —_ | 7 | ~ | ||||||
| Designated funds | ||||||||
| Capital Building fund | 3,923,656 | - | - | - | (116,201) | - | 3,807,455 | |
| Developing Creative | 311,812 | - | - | (8,000) | - | = | 303,812 | |
| Programme | ||||||||
| Refurbishment fund | 404,677 | - | - | - | - | - | 404,677 | |
| Belfast Building fund | 145,977 | - | - | - | - | - | 145,977 | |
| SiteDevelopment& | 500,000 | - | - | - | - | - | 500,000 | |
| Renewable Energy | ||||||||
| 5,286,122 | - | (8,000) | (116,201) | - | 5,161,921 | |||
| General funds | 595,294 | 11,739 | 1,235,224 | (1,287,938) | 116,201 | - | 670,520 | |
| 5,881,416 | 11,739 | 1,235,224 | (1,295,938) | - | - | §,832,441 |
SS
The capital building fund consists of funds received for freehold land and buildings which are transferred to unrestricted funds when expended and then released from designated to general funds over the related assets useful life.
Developing creative programme is coming out of our new operational model allowing for the foundations and development of a new team and programmes.
The refurbishment fund is to be used by Corrymeela over the next 5 years and will be, used to upgrade and maintain the existing buildings, fixtures and equipment in order to preserve them and keep them at serviceable level.
- The Belfast building fund is the income from the sale of the property in Belfast and has been designated by Council towards Corrymeela’s Belfast presence.
The Site Development and Renewable Energy fund has been earmarked to develop the site for the future and seek to use more environmental ways of generating energy to service the centre.
29
The Corrymeela Community (a company limited by guarantee)
16 Restricted income funds
| 16 Restricted income funds |
|||||
|---|---|---|---|---|---|
| Balance | Balance | ||||
| 1April | Incoming | Utilised/ | 31 March | ||
| 2024 | ~—sresources | released | Transfers | 2025 | |
| £ | £ | £ | £ | £ | |
| Community RelationsCouncil —-Core Funding Scheme | - | 52,157 | (52,157) | - | - |
| CFNI —DoH Mental Health Fund | 32,177 | 2,000 | (34.177) | - | - |
| JVM Trench Will Trust - frish School ofEcumenics | 1,511 | - | (1,511) | - | - |
| Ulster Scots Agency | 1,500 | - | (1,500) | - | - |
| Henry Luce Foundation | $3.54 | - | (41,637) | - | 11,877 |
| SirHalley Stewart Trust | 8,936 | - | (1,590) | - | 7,346 |
| Department ofForcign Affairs and Trade — Heritage ProjectOPOPOP |
7134 | ” | (7,134) | . | ° |
| Langdale Trust | 4,624 | 4,000 | (4,360) | - | 4,264 |
| Beatrice Hankey Foundation Ltd (The Blue Pilgrims) | 1,350 | 4,000 | (5,350) | - | - |
| National Lottery Heritage Fund -OPOPOP project | - | 27,906 | (27,906) | - | - |
| Department ofForeign Affairs andTrade SustainingHope2021-22 |
re | ° | ee) | ° | ° |
| VSB Foundation Pilgrim Grant | 1,715 | 1,000 | (581) | - | 2,134 |
| Department ofForeign Affairs and ‘Trade Strategic Funding 2023-2024 |
TB | . | (68,698) | ° | ° |
| Department ofForeign Affairs andTrade Strategic Partnership 2024-25 |
. | VosBile | ee) | “ | DE) |
| Department ofForeign Affairs and Trade ReconciliationFund —Keeping the Faith |
ee | 7 | estas) | ° | as |
| Dormant Accounts | 50,000 | - | - | 50,000 | |
| Rotary Clubs - Seeds ofHope Programme | 28,419 | 2,500 | (13,740) | - | 17,179 |
| Rotary San Antonio — Nurturing Hope Summer’24 | - | 29,800 | (29,800) | - | - |
| Other Grants | 7,175 | 62,400 | (64,655) | - | 4,920 |
| Kathleen& Ray Davey Fund | 52,550 | 32 | - | 52,582 | |
| Restricted Donations | 49,833 | 4,326 | (15,589) | - | 38,570 |
| Restricted Legacy | 145,611 | - | (50,048) | - | 95,563 |
| $24,289 | 314,126 | (468,088) | - | 370,327 |
The Community Relations Council Core Funding Programme is for the purpose of assisting with salary costs of key employees.
The Community Foundation for Northern Ireland through the Department of Health Mental Health Fund provided funding to support the Asylum Seeker and Refugee Trauma Informed Support Programme. This is a 3 year partnership supporting salary costs, operational costs, office costs and capital costs
JVM Trench Will Trust grant payable through the Irish School of Ecumenics Trust funded the costs of stage one of The Faithful Dialogue project, which brings theologians and faith communities together to reflect on the dynamics of power and conflict.
Ulster-Scots Agency provided funding to support a range of Ulster-Scots programming at events.
Henry Luce Foundation provided funding to support the development of the Irish Network for Public Theology supporting salary costs, resources and programme costs.
30
The Corrymeela Community (a company limited by guarantee)
,
16 Restricted income funds (continued)
Sir Halley Stewart Trust provided funding to support a practical guide to faith communities responding to gender-based violence. A gender-based violence learning resource for faith groups offering advice, guidance and ways of discussing the issue in faith communities.
Department of Foreign Affairs; Reconciliation Fund provided match funding for the Our Places, Our Pasts, Our Perspectives project by supporting staff costs, overheads and residential costs for the three year programme. ‘The underspend has been reprofiled to be spent on programme activities in 2024-25.
Langdale Trust provided support for the Together We Shelter project to enable marginalised groups to attend residentials at the Ballycastle Centre.
Beatrice Hankey Foundation Ltd provided support for training and development of voluntecrs and to financial support to host residential groups who have experienced trauma to seek ways to explore and integrate personal healing.
The National Lottery Heritage Fund provided funding for Our Places, Our Pasts, Our Perspectives project by supporting capital costs, activity costs and delivery costs. This is part ofa 3 year partnership project.
Department of Foreign Affairs; Reconciliation Fund provided funding for the Sustaining Hope project by providing funding to support salary costs, project activities, training and digital equipment.
VSB Foundation Pilgrim Trust was provided for the programme Voice of Migrant Women to support the work taking place in Magherafelt with the group compromising of local women and 25 families who have had direct experience of war, and forcibly displaced from their homeland in Syria.
Department of Foreign Affairs and Trade; Reconciliation Fund Strategic Partnership Scheme 2022-2024 provides funding to support programme costs, evaluation costs, salary costs for Programme Managers and an apportionment of organisational core costs.
Department of Foreign Affairs and Trade; Reconciliation Fund provided funding for the Keeping the Faith in Peace project by supporting programme and activity costs and salary costs associated with the project.
The National Lottery Community Fund, Dormant Accounts Fund NI has provided funding to improve Corrymeela’s outreach capacity, resilience and sustainability. - Rotary Clubs of San Antonio and Belfast have provided funding for the Seeds of Hope programme supporting residential and facilitation costs.
Rotary Club of San Antonio has provided funding for the Nurturing Hope Summer Learning Journey programme supporting residential and facilitation costs.
The Kathleen & Ray Davey Fund has been established from the legacy from their estate and gifts in memory of our founder. This fund has been temporarily paused to reconsider the purpose and governance of the fund.
A restricted legacy was given towards the Together We Shelter project to support salary and programme costs.
17 Contingent liabilities
The Department of Education for Northern Ireland (£85,000), International Fund for Ireland (£2,170,334), Community Relations Council (£301,133) have all created a charge in connection with the refurbishment of the Corrymecla Centre. Also a further charge has been created on the security of the Directors House to secure possible further advances up to a limit of £15,000 from Ulster Bank Ltd. The Directors do not expect any repayment of these charges.
3]
The Corrymeela Community (a company limited by guarantee)
18 Analysis of net assets between funds
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| £ | £ | £ | ||
| a | oo | ~ | ||
| Fund balances at31 March 2025 are represented by: | ||||
| Tangible fixed assets | 3,849,903 | - | 3,849,903 | |
| Investments | $11,333 | - | $11,333 | |
| Net current assets | 1,471,205 | 370,327 | 1,841,532 | |
| : | ||||
| Total net assets | 5,832,441 | 370,327 | 6,202,768 | |
| Unrestricted | Restricted | Total | ||
| Funds | Funds | funds | ||
| £ | £ | £ | ||
| "Fund balancesat31 March2024arerepresented by:OO | 7 | |||
| Tangible fixed assets | 3,961,910 | - | 3,961,910 | |
| Investments | 490,452 | - | 490,452 | |
| Net current asscts | 1,429,054 | 524,289 | 1,953,343 | |
| Totalnetassets | 5,881,416 | 524,289 | 6,405,705 |
—-
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The Corrymeela Community (a company limited by guarantee)
20 ~—_ Liability of members
The Corrymeela Community is a company limited by guarantee. The liability of each member is limited to an amount not exceeding £10.
21 Cash generated from operations
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||||||||
|---|---|---|---|---|---|---|
|2025|2024|
|£|£|
|Net movement|in funds for the year|(202,937)|89,428|
|Adjustments|for:|
|Depreciation|125,296|119,662|
|Loss on|disposal|of fixed assets|547|61|
|Investment|income|(66,555)|(57,762)|
|Increase|in|fair value of shares|(11,739)|(40,476)|
|Movements|in|working|capital:|
|(Increase)/decrease|in|debtors|26,310|23,751|
|(Decreasc)/increase|in|creditors|(18,102)|758|
|Net cash|gencrated|from|operating|activities|(147,180)|135,422|
----- End of picture text -----
34