Company Iyumber: N1030819
Charity Numbcr: N1101854
Bog81de & Brandyivcll IDltigtiVe Ltd
(A Company limited by guornDtee}
Directors, report gnd tlnan¢ial statements
for the year ended 31 March 2024

Booside & Brandywell Initiative Ltd
(A company limited by guaraDtee)
Contents
Page
Legal and Administrative Inforniation
Directors Report
Independent Audltors, Report
Statement of Financial Activities
10
Balance Slieet
li
Statem¢nt of Cashflow5
12
Notes to the accounts
13-20

Bogside & BrandJryYell Initiative Ltd
(A company limited by gu2raiitee}
Information
Dlrectors
Catherlne Pollock
Anne-mnrie Clallagher
Sean M¢Mon&gl¢
T¢rrence Crossan
Terry Lamberton
Anthony Brown
James Mc Ivor
John Lynch
Sccrotary
Anne-MLrie Gallogher
RegLstered offlce
Thc Gasyard Centre
128 Lecky Road
Dery
BT48 6NP
Company number:
N1030819
Charity number:
XR2273L
NICIOI854
Audltors
McGroarty M¢Cafferty & Company
Accountants & Registered Auditors
2 Carlislc Terrace
Derry
BT48 6JX
Bankers
AIB ￿1)
Meadowbank House
D¢ry
BT48 7fN
Solieilors
Ma¢Derniott. M¢Gurk & Partners
Solicitors
12 Clarendon Street
Dery
BT48 7ET
Page I

Bogside & Brandywell lllitiative Ltd
(A company limited by guarantee)
Directors Report
The directors present their report and the financial stat¢ments for the year ended 31 March 2024,
PrAncipal activity
Th¢ princApal activity of the company in the year under review is to enhance the potential for sogial ¢conomi
education and well being creating a more activ¢ ¢ommunity and environment.
Dlrectors and thelr Interosts
The directors of ihe charity for thc purposes of charAty law and throughout thls report are collectively referred
to as the directors.
The directors serving during the yaor and since the year end were &$ follows:
Catherine Pollock
Anne-marie Callagher
T¢rr¢nce Crossan
Terry Lamberton
Sean McMonagl¢
Anthony Brown
James Mc Ivor
John Lynch
Governlng Documcnt
Bogside & Brandywell Initintive Ltd is a company IiFnitcd by guarantee governed by its Memorandum and
Artlcles of Assoriation. It is a r¢gistered charity with the HIM Revenue & Customs.
Appointment of Dlrectors
At ihe Annual General Meeting one third of dir¢G¢ors resign in rotation and being eligible offer tliemselves
for re-electi¢n.
Risk Managoment
The directors have a risk management strategj which conslsts of establishing a system of identlfylns rlsks and
mitigating such risks.
Achlevements, P¢rforJnnnce & Publlc Benollt
The Bogside & Brandywell Initiative Ltd engages in a resident led response b8sed upon partnership and
collaboration, to tackle the environmental and social problems experienced across the Tri&x Neighbourhood
Renewal Area in order to establish and sustain ¢lean¢r, safer and mor¢ attractive nei8hbourhood5.
The organisotion is working exclusively for the local Community, developing bespoke and creative
programthes and activities for those suffering multiple levels of deprivation to reverse decline and ¢r¢ut¢
sustainable comrnuniti¢s. Our mission is to do wliatever it takes to incre&se the cllpaaity of residents in the
Triax ar¢a in order to enhance ih¢ir socilll, economi¢ and educational wellbeing Including developing the
built environment.
The organisation ivill ensure residents have the infomiation, opportunity, resources and confIdence to actively
participate in positively transfomiing iheir own communities through incrc&sed volunteering and engagemenl,
and support for improved community and statutory parlnerships and services.
Pgge 2

Bogside & Brandywell Initiative Ltd
Conlinued....
Financial review
The financial perforniance is summarised in the enclosed accounts.
Plans for Future Periods
Historically the main focus of work has been with member groups but over the comlng years there will be a
gre8fer focus on putting local resid¢nts at Ihe heart of ￿tUre projects.
It will ensure residents have Ihe inf0nnat1o￿ opportunity, resources and confidence to actively participate in
positively transforniing their own communities through In¢re&sed volunteering and engagement. and support
for Improved community and statutory partnerships and services.
Et will endeavour to create a number of forums around community devic¢5 ensuring c4llaborative
inte￿entionS ocross the Neighbourhood Reneival themes tackling inequalities and disadvantages and buildin8
soclal enterprises as additional resources and opportunities for employm¢nt and troining.
Directors Responslbfilltles In Relation To The FingnclAI Stktoments
The directors are responsible for preparing the Annual Report and the financial statetnents in accordance with
applicable law and United Kin8dom Accountlllg Standards (United Kingdorn Generally Accepted
Accounting Practlce). Company low requires the directors to prepare financial statements for each finuncial
year. Under company law the dlrectors must not approv¢ th¢ finan¢io1 statements unless they are slltisfied that
they give a tru¢ and fair view of the stote of affairs of the charitable company and of the incomin8 resources
and application of resources. including the Income and expenditure. of ihe charituble company for that period.
In prcparing these financial statements, th£ dircctors ore required to:
selc¢t suitable accountlns policies and apply thcm consist¢ntly:
observe the m¢thods and principles in the Charities SORP 2019 (FRS 102);
moke judgements and eslImates that are reasonable and prudent:
stare whether applicabl¢ UK and Accounting Standards have been followed; subject to any malerial
departur¢s disc105ed and explained in ihe financial statements;
prepare the finan¢ial stotements on the going concern bLSiS unless it is inappropriate to presume that ￿le
charity WEII continue Tn business.
The Board is responsible for maintaining proper accounting records that are 5uifici¢nt to show and explain
the charity's transactions and disclose with re￿Onable accuracy at any time the financial Position of the
charitable company and to enable tliem to ensure that the financial statements comply with Companies Act
2006. The Board is also responsible for safeguording the assets of th¢ charitabl¢ company and hen¢e for
taking reasonable stsps for the prevention and detection of fraud and other irregularities.
In accordanc¢ with ¢ompany law, as the company's directors, we certify that:
So far as ive are aivare, there is no relevant audit irtforniation of wliicli the company's auditors are uttaware;
and as tlie directors of the company we haye taken all steps we ought to have laken in order to make ourselves
aivare of any r¢l¢vant audit inforn]ation and to establish that the charity's auditors are aware of that
inforniatLOn.
Page 3

Bogside & Brandywcll IDltiative Ltd
Con¢inued.....
Auditor's
McGroaty Mccafferty & Company are deemed to be reappomted in accordance with Section 487 (2) of the
Companies Act 2006.
This report Is pff pared in ac¢ordance with the sp￿la1 provisions of part 15 of the Companies Act 2006
relating to small companies.
The financial statements are approved and autliorised for issue by the Board of Directors on 24 June 2024 and
signed on ivs behaifby.
Dlreetor
DI
ct
Catherine Polloek
Anne*M2rie Ggllagher
Page 4

Bog5ide & Brandywell IDltiative Ltd
(A company limited by guarantee)
Jndepcndcnt guditor's report to the directors of Bogside & Brandywell Initiative Ltd
OpEnlon
We have audited the finaneiAI statements of Bogside & Brandywell Initiative Ltd for the year ended 31 March
2024 which comprise the Statement of Flnancial Activities. the Balance She¢& the Cashflow Statement and the
related notes. The financial reporting framework that has been applied in their preparation is applicabl¢ law
and United Kingdom A￿ountIng Standards (United Kingdom Generally Accepted Accounting Pra¢ti¢e)
including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
This report is made solely to the Charitable company's dir¢¢tors. as a body. In aeKordence with Chapter 3 of Part
16 of tlie Companies Act 2006. Our audit work has b¢¢n undertaken so that we might state to the charitable
company's directors those matters we ar¢ required to stat¢ to them in an auditorfs report and for no other
purpose. To ih¢ fullest extent pernjitted by law, w¢ do not accept or assume responsibility to anyone other than
the ¢haritoble company and th¢ charitable coMpan￿S directors as a body, for our audit work, for this report, or
for the opinions w¢ hove fornied.
In our opinion the financial statements:
give a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of its
Incoming resources and expenditure of resources, including its income and expenditure, for the ycar then
have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practice.
have been prepared in accordance with tlie requirements of the Companies Act 2006.
Basls for opinion
Wc ¢onduGted our audit in a¢¢ordan¢e with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in th¢ Auditor's r¢sponsibilities
for the audlt of the financial 5t&temcnts section of our reporL We are independent of the charitable company in
8ccordkince with tlie ethlcal requirements thot are relevamt to our oudit of the financigl statements in the UK.
including the FRC'S Ethi¢al Standard, and we have fvlfilled our other ethical responsibilities in accordan¢¢
with tliese requirements. We beli¢ve tliat lh¢ audit evidence w¢ have obtalned is sutricient and appropriate to
provid¢ a basis for our opiftion.
Conclusions relaliDg to golng Concern
In auditing the financial statements, we have concluded that the directors, use of the going concern basis of
awounting in tli¢ preparation of the financial statements is appropriate.
Based on the ivork we have perfonned. we have not identified any material uncertainties relating to events or
condilions that. individually or collectivelyg may cast signifi¢ant doubt on the charitable company'5 ability to
¢orttinue as a going eoncern for a period of at least twelve months from when the finan¢ial statements are
authorised for Issue.
Our responxibillties and the responsibilities of the directors ivith respect to going concem are described in the
relevant sections of ihis report.
Page 5

Bogside & Bralldywell Initiative Ltd
(A company limlted by guarantee)
Other information
The directors are responsible for the other infonnalion. The other infOrn￿tion comprises the inforn]ation
Included in the dir¢ctors' annual repo¢ other ihan the financial statem¢nts and our auditor's report thereon.
Our opinion on th¢ financial stat¢m¢nts does not cover other inforniation and, ¢xG¢pt to the ¢.xt¢nt oth¢twis¢
explicilly stated in our reporL w¢ do not expre￿ any form of assurance con¢lusion iher¢on.
In ¢onnecticn with our audit of th¢ financial statements. our responsibility is to read the other infomiation and,
in doing so, ¢on5ider whether the oiher information is mat¢rially inconsistent with the firtancial statements cr
our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such
material inconsistencies or apparent material misstatements, we are required to deterniine whether there 15 a
material misstatement in ihe finan¢ial statements or a materiaL misstatement of the other inforniation. If, based
on the work we have perfornied, we conclude that there Is a material misstaternent of this other inforniation, we
are required to report tliat fact.
We have nothing to report in ihis regard.
OpinSon OD Oth¢r mllttors prescribed by the Comp4nle5 Aet 2006
In our opinion based on the work undertoken in the course of Ihe audit:
the inforniation given in the Director5. A T]nulll Report for the financial year for which the financial stotements
re prepared is Consistent with the financlal stP4tements' and
the Directors Annual R¢port has bccn prepared in accordance with applicable legal requirements.
Matters on whieh JY¢ are requlred to report by ¢x¢eption
In the Iight of our knoivledge and understanding of the charitable company and its ¢nvironment obtained in the
ourse of th¢ audit. we have not Identified materlal misstatements in the Dir¢¢tors Annual Report.
W¢ hov¢ nothing to report in respect of the followin8 Tnatters where the Componies Act 2006 requires us to
report to you If, in our oplnlon:
adequate accounting records hay¢ not b¢¢n k¢pt', or
- thc financial statements are not in agreement with the accounting records and returns: or
¢¢rtain disclosures of directors, remuneration specified by law are not made: or
we have not received all tlie information and explonations we require for our audit; or
the directors were not entitled to prepare the flnancial statements in accordance witli the small companies
regime and take advantage of the small companies exemption from the requirement to prepare a strategic
report.
R¢sponsibilities of the directors
As explained more fully in ihe Directors, Responsibilities Statement set out on page 3, the directors (who are
a150 the directors of the ¢haritable company for the purposes of company law) are responsible for the
preparatton of the finan¢ial statements llnd for being Slltisfigd thnt they give a true and fair view, and for such
intcrnal control as the directors deterniine is necessary to enable the preparation of financlal statements ih8L a
free from material misstatetnent. whether due to fraud or ¢rror.
In preparing the fInancial statements, the directors are Te5ponsible for assessing the charitable company's ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
oncern basis of accounting unless the dircctots ciiher intend to liquidate the charitable company or to cease
operations, or have no realistic altemative but lo do so.
Page 6

Bogside & Brnlldywell Initiative Ltd
(A company limited by guarantee)
Auilitor'5 responsibilities for the audit of the fin&neial statements
Our objectives are to obtain reasonable assurance about whether ihe ftnancial statements as a whole are free
from malerial misstatemen¢ whether due to fraud or error. and to issue an auditorfs report that includes our
opInion. Reasonable ￿UranCe is a hi8h level of assurance, but is not a guardnlcc that an audit conducted in
accordance with ISA$ (UK) will always d¢t¢¢t a material misstatement when it exists. Misstatements can arise
from fraud or error and are considered material if. individually or in the oggregate, they Could reasonably be
expected to influence the economic decisions of users taken on the basis of ihese financlal statements.
Explanation as to what oxtont the audit w25 eonsidered capable of det¢etlDg Irr¢gularltles, Including
Irregularities, includAng fraud, are instance5 of non￿ompliance with 18Ws and regulations. We design
procedures in line with our responsibilities. outlined abov4 to detect material misstatements in respect of
irrcgularitles, including fraud. However, the primary responsibility for the prevcntion and detection of fraud
lies with management 2nd tli¢ board of directors of the charitsble company.
Identifying and assesslng potential risks related to irregulgrltles
Tn identifying ond &WSSing risks of rnatsrial misstatement in respect of irregularities, in¢luding ftaud wid
non-compliance with ILWS and regulation5. we considered the folloivlng:
- the nature ofthe industry, sector and the specific control environment which it operntes in;
the charities own Lssessment of the risks that frregularities may occur. either a5 a rcsult of fraud or error.
represenlations and results from our cnquiries with management and the board of directots regarding thelr
own identification and &sstssment of the risk8 of irregulorities:
enquiries of management relating to accounting estimates measurements, recognition criteria and justification
of such amounts.
any matters we have id¢ntifi¢d having ob¢ained and revieived the Chariti¢s poll¢i¢s and proc¢durcs relating
to;
* identifying and &8sessing if laws and regulation5 are compliant and whether they are oware of any instllnces
of non-compliance.
* d¢t¢¢tion and response to the risk of fraud and whether th¢y ar¢ aware of any actual, suspected or alleged
fraud instan¢¢s:
* the internal Controls designed to mitigate risks or frllud or fton-compliance with laws and regulations, and to
minimise risk of management overrides of such controls,
all rnatters discu55ed amons the audit engagement team regardin8 how and where fraud could occur and the
potential indicators of fraud.
As a result of these procedures, we considered the opportunlties and incentives that may exist within the charity
for fraud. The audit included assessing the procedures and ¢valuating the me￿urernent of estimations. In
¢omrnon Nyith all uudils under lSAs (UK), w'e are also required to perfomi specific procedures io respond to the
risk of management override.
We also obtain¢d un understanding of tlie legal ond reoulalory frameworks llpplieable to th¢ charity and
considered that the most significant are the Companles Act 2006. SORP 2019 (FRS 102) and Charities Act
(Northern Ireland)2008.
Audit responses to risks idenlifIed
Our procedures to respond to risks identified included the following:

Bogside & Brnndywell Initiative Ltd
(A eompany limiled by guarnntee)
revieiving the financial statement disclosures, testing the relevant do¢umenlation to assess compliance ivith
lh¢ si8nifiGant laws and regulations- those described as having a dTre¢t effect on the financial statements:
. enquiring with management and obtaiftlng thlrd paty ¢onf1rn1ation from the Charities Solicitors regarding arty
actual or potential litigation and ¢laim$:
perfornilng analytlcal procedures to identAfy any unusual or unexpected relationships that may Indicate risks
of materlal misstatement duo to frdud:
reading minutes of board and management meetingsi examine fore¢asting material in line ivith actual
performance, identifying any potential fraud Indlcators or instances;
revlewlng Companies House and Charity Commission Northern Ireland ¢orresponden¢e. identify any late
submissions or omissions of mandatory inforniation.
review correspondence wlth HMRC. identifying non ¢omplian¢e of specific information to be disclosed;
in addr¢ssing the rAsk of fraud through management override of controls, testing the appropriateness of data
entries and adjustments; ossessing whetlier the Judgernents made in making accounting estimate5 are Indlcative
of a potential bias; and evaluating the ratlonale of any significant transactions that are unusual or outside the
normal ¢ours¢ of the Charities objcctives.
We also Communicated relevant identified laws and regulations and potential fraud risk8 to 811 engagement
team members Lnd remained alert to any indications of frdud or noncompliance with I&w5 and regulotions
tliroughout the audit.
As part of an audit in lle¢ordancc wlth ISAS (UK). we exercise professional judgment and mointsLin
professional scepti¢ism throuEhout the audit, We also:
Identlfy and 8ssess the risks of material misstatement of th¢ f￿anCIal slatements, whether due to fraud or
error. dcsign and perfomi audit procedures responsive to those risks, and obtain audit evidenco that IS sufficient
and appropriate to provid¢ a basis for our opinion. The rlsk of not detecting a material misstatement resultinE
from fraud is higher than for on¢ resulting from error, as fraud may involv¢ collusion, forgery, inicntional
omissions, misrepresentations, or the ovcrrAd¢ of int¢rndl Control.
Obtaln an understanding of internal control relevant to the audit in order to design audit procedures that arc
appropriate in tlie circumstances, but not for the purpose of expressing an opinion on the effectiveness of the
charitable company's intemol contrgl.
Evaluate the appropriateness of accounting policies used and the reasonubl¢ness of accounting estimat¢s ond
relut¢d disclosures made by the directors.
Con¢lude on th¢ appropriateness of the director5, use of the going ￿nCern basis of a¢¢ounting and. b&%ed on
Ihe audit evidence obtained, whether a material uneertalnty exists related to events or conditions that may cast
significant doubt on the ¢haTitable company's ability to continue &8 a golng concern. If we conclude that a
material uncertainty exists. we required to draw attention in our auditofs report to the related disclosur¢s in
the financial statements or. if such disc105ures llre inadequat< to modify our opinion. Our conclusrons are
ba8ed on the audit evidence obtained up to the date of th¢ auditor's report. However. future evertts or
conditions may caus¢ tl)e ¢haritabl¢ company to ce&ge to continu¢ as a going conc¢rn.
-Evaluate tlie overall presentation, structure and content of tlie financial statements, including the disclosures,
and whether the financial statements represent the underlying transactions and events in a manner that achieves
fair presentation.
Page 8

Bogside & Brnndywell Initiative Lld
(A company limiled by guarantee)
We Communicate ivith those charged with governance regarding, among other matters, tlie planned scope and
timing of the audit and signifjcant audit findin&% including any si8nifi¢ant deficiencies in internal control that
we identify during our audit.
p&.A4.
Patrlck McGroarty
Scnlor Statutory Auditor
For and on behalf or
McGroarty Mecafferty & Company
StAtutory Audltor
2 Carlisle Terrace
Dorry
BT48 6JX
Date: 24 Junc 2024
Page 9

Bogside & Brandywell Initiative Ltd
(A company limited by guarantee)
Statement of FiDancial Aetivities
ror the year euded 31 MArch 2024
Unrestrlcted
Funds
Restrieted
Funds
2024
2023
Income and Expendlturc
Incomlng Rosour¢¢s
Grants & Sundry Income
Total Incoming Resources
74.135
498,909
573,044
527.756
74,135
498.909
573.044
527.756
Resourees Expended
Management & Administrbtion
TotAI Resources Expended
89,884
505.514
595,398
544,983
89.884
505,514
595,398
544.983
Net Illcomlng / (Outgoing) Resources
(15,749)
(6.605)
(22,354)
(17,227)
Balances brought foNard l April 2023
138,335
29,053
167.388
184.615
122,586
22.448
145,034
167.388
Transfers
Balances Carried forward 31 March 2024 11
122,586
22.448
145,034
167,388
The above amounts relate to continuing operdtions of the company.
The company h&$ no recognised gains and losses other than those included in the results above and therefore
no separate statement oftotal recognised gains and losses has bcen presented. There is no difference between
the neL incoming resources for the year stated above and their historical cost equivalents.
Page 10

Bogside & Brandywell Initiative Ltd
(A company limited by guaralltee)
Balance sheet
as at 31 March 2024
2024
2023
Notcs
Tangible assets
70,999
81.721
Current assets
Debtors
Cash at bank and in hand
76.150
75.431
71,587
103.603
15L,581
175,190
Current Ilabllltl¢s
Bank loans and overdrdfts
Other creditors
Accruals
1,615
65,826
10.105
1.257
76,668
11,598
77.546
89,523
Net current ￿sSets
74.035
85.667
Total assets less current
JiAbilltles
145.034
167.388
Reserves
Unrestricted
Restricted
12
122,586
22,448
138.335
29.053
145,034
167.388
The financial statements are prepared in accordance ivith tlie special provisions of Part 15 of the Companies
Act 2006 and the Charitles SORP 2019 (FRS 102).
The Financlal Statements wer¢ approved and authorised for Issue by the Board on 24 Jun¢ 2024 and signed
on its behalf by
Dlre¢tor
Catherine Pollock
DEre¢tor
Ann-man
lagher
D2tt: 24th June 2024
Dato: 24th June 2024
Registration No: N1030819
Pagc 11

Bog5ide & BraDdywell lDJtiative Ltd
(A company limited by guaranttt)
Statement of Cash flows
as at31 March 2Q24
2024
2023
Net incoming l (outgoing) resources for the year
Depreciation and impairnient
(Increase)I decr¢ose in d¢btors
(Decrease)l increase in creditors
Net Cash Inflow from oporotlng aetlvÉtios
(22,354) (L 7,227)
10,722
10.721
(4.563)
42,541
(11,977)
6,329
(28.172)
42,364
Capitol expenditure
Increase In cash In the y¢2r
(1,900)
40,464
(28.172)
Rtconclllatlon of nct C2sh flow to movement In net funds
Increase in ￿s￿ ia the year
Net funds at l April 2023
(28.172)
103.603
40.464
63,139
Net funds nt31 March 2024
13
75,43 L
103,603
Page 12

Bogside & Brandywell Initiative Lld
(A company limited by uuarantee)
Notes to the aeeounts
for the year ended 31 March 2024
Golloral Information
Th¢ charity 15 a private limited company by guarantee, registered in Northem Ireland and a registered
charity in Northern Ireland. The address of the registered otTice is The Gasyard Centre, 128 Lecky
Road, Derry. BT48 6NP.
1.1. Aceounting ¢ouveDtlon
The principal accounting policies adopted In the preparation of the financial statements are set out
below and hove remained unchanged from the previous year, and also have been consistently applied
within the same accounts.
The ch8rity constitutes a publi¢ benefit entity as defined by FRS102. The financial statements have
been prepared in occordance with 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 Charities SORP 2019 (FRSI 02). Charities Act
(Northern treland) 2008, and the Companles Act 2006.
The financial statements are prepared on a going concern basis under the historical cost COnvetttiOn,
modified to included certain items at fair value. The finunciol statements are presented in sterling
vhi¢h is Ihe functional currency of the charity.
1.2. Income
All incoming rtsouwes are included in lh¢ SOFA wh¢n the charity is legally ¢Dtilled to the in¢ome
and the amount cl￿ be qualified with re￿OnOble accuracy. The following specific policies are
applied to parti¢ular ¢ategories of incomc:
Voluntary income is recelved by way of grants, donations and gifts and is included in full In the
stat¢m¢nt of financial activities when receivable. Grants where entitlement is not conditional on the
delivery of & specific performance by the oharity, are iecognlsed when the charity becomes
unconditionally entitled to the grant.
Donated serrfice5 and fucilities are inoluded at the value to the charity where this can be quantified.
Tlie value of services provided by volunteers not been included.
Gifts donated for resale are included &s incoming resources within activities for generating funds
%vhen they are sold.
1.3. Resources expended
All expenditure is accounted for on an accruals b&8is &8 a liability is incurred and has been clAsslfled
under headings that aggregate all costs related to the category.
Charitable expenditur¢ Coniprises tliose costs incurred by the charity in the delivery of its activities and
services for its beneficiaries. It includes both costs that can be allocated directly to such activities and
those costs of an indireGt nature necessary to support them.
P2g¢ 13

Bogside & BrnndJTrvell Initiative Ltd
(A company limited by guarantee)
Notes to the accounts
for the year eDded 31 Mar¢b 2024
1.4. Fund accounting
Unrestricted funds are available for use at the dlscretlon of the trustces in furthcrance of thc general
objectives of the charity and which have not been designated for other purposes.
R¢stricted funds are funds whi¢li are to be used in accordance with specific restrictions imposed by
donoES or ivhich have been raised by th¢ charity for particular purposes. The cost of raislng and
administering such funds are charged against th¢ s￿GIrl¢ thnd.
1.5. Tanglble fix¢d assets and depreciation
Tangible fixed assets are stated al cost less depre¢iation.
Depreciation is provided at rates calculated to write off the cost or vatuatlon less residual value of each
asset over its expected useful life, as follows:
Land and buildings
oirjce Equipment
EquipJnent
Motor v¢hi¢le8
20/0 Stralght Line
150/• Straight Line
150/0 Straight Line
20 /0 Straight Line
1.6. Cgsh at bank and in hand
C&sh and CZLsh equivalents inolud¢ ¢o5h at bank and An hand.
1.7. Debtors & credltors
Debtors and creditors with no stated interest rate and r¢¢eivable or payable within one year are
recorded at transaction pric¢, Any losses arising from impalrn]ent ar¢ rccosnised in expenditure.
1.8. Pcllslon costs
Contributions to auto enrolment pension schernes are re¢ognised as an expense in the period in which
the related servirx is provided.
1.9. Golng con¢ern
The flnancial ststements have been prepared on a going congern basis as the directors believe tliat no
material uncertainties exist. The directors have considered the level of funds held llnd the expected level
of income and expenditure for 12 months from authorising these financlal statements. The budgeted
income and exp¢nditure is suificient with the level of reserves for the charity to be able to continue as a
going ¢oncem.
PaLwe 14

Bogside & Brandywell Initiative Ltd
(A company limited by guarantee)
Notes to the accounts
ror the year ended 31 Morch 2024
Income
2024
2023
Restricted Income
IFI-Our Peace Our Future
The Exe¢utiv¢ Office
Deportment of JustEce
CIPP-Better Tog¢th¢r Project
ESF-Electrical Safety
Big Lottery Awards for All
Big Lottery-Dorn)2nt account
Derry & Strabane District Council
CFNI-Meet & E&t Project
DFC-Job Start
IFI-Pea¢¢ Barrieis
Department for Communities
DFC Tus Maith Project
PHA Clear Project
548
1.500
1.833
8.725
2.755
93.447
5,000
1.406
16.050
32,438
5.000
5,732
101,442
144.213
86,961
3,917
8,765
61,185
6,511
97.500
169.485
93.325
498,909
448,829
Unrcstrieted Income
Donations & project income
74,135
78,927
74,135
78,927
Total Income
573.044
527,756
(i)
Restrlcted Funds
Funds received which are eannarked by the Funder for specific purposes. Such purposes are within the
overnll aims of the organisation,
(li) Unrestrlcted Funds
Funds which are expendable at the discretion of the cornpany in furtherance of the aims of th? charity.
In addition funds rnoy be held in order to finonce capital investment and worklng ¢apitol,
Page l?

Bogside & Brandyiyell Initiative Ltd
(A company limited by guarnntee)
Notes to the accounts
for Ihe year ended 31 MarclL 2024
Resourc￿ Expended
Ullrestricted
Funds
Re5trl¢ted
Funds
Total
2024
Totsl
2023
Mtsnagement & AdmiDiStration
DFC Projecl expenses
Peace IV project expenses
ESF - Electrical Safety expenses
KNIB Live Here Love Here
IFI Pea¢¢ Walls Project
Dept of Justice - Arch Project
Department of Justice project
Deprcciation on van
DFC-Job Start
Community Food Initlotlve
Big L0ttery-Aw￿dS for All
The Executive Office Project
DCSDC cxpenses
Sundry Account expenses
Tus Maith piojcct
PHA Clcar proj¢ct
144,721
92.266
5.000
5,001
101,441
548
2,755
7,368
5.732
16,050
1,406
144,721
92.266
5,000
5,001
101,441
548
2,755
7.368
5,732
16,OSO
1,406
169.485
8,742
97.477
1,833
7,368
6,511
8,792
1.500
60,633
89,459
93,183
32.476
32.476
89.884
86,833
3,917
89.884
86.833
3,917
89.884
505,514
595J98
544,983
Net Illcomlllg Resources
2024
2023
Net incoming resources hLs been arrived ot after Charging.
Audit remuneration
Depreciation
4.380
10,722
3,600
10,722
Page 16

Bogside & Brandywell Initiative Ltd
(A ¢OmPaDy limited by guarantee)
Notes to the accounts
for the year ¢uded 31 March 2024
Employoes
2024
2023
Wages and Salaries
Pension costs
392,068
13,999
365,544
12,810
406,067
378J54
No employees received emoluments of mor¢ tlian £60,000 (2023: None).
Th¢ directors, neither received nor waived any emoluments during the year (2023: None).
Number 0£ employe
2024
Number
2023
Number
The average monthly numbers of employees during the year. calculated on
the basis of full time equivalen￿ as folloivs:
16
16
Auditor's remunerntion
The auditor's remuneration amounts to an audit fee of £3,600 (2023 -£3,600).
Ta%ation
As a charity, Bog5ide & Brandjwell InitEotlve Ltd is exempt from tu on income and gains falling
within section 505 of the T￿e$ Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to
th¢ extent that these are applied io its Chargeable objects. Accordingly, no tax charges have arisen
in the ¢harity.
Page 17

Bogside & Brandywell Initiative Ltd
(A company limited by guardntee)
Iyotes to the Attounts
ror the year ended 31 Mareh 2024
Tanglble assets
Land and
buildfings
Omco
freehold Equipment Equlpment
Motor
vehficles
Total
Cost
At l April 2023
At 31 March 2024
57.000
8.000
88,395
53,589
206.984
57,000
8,000
88,395
53,589
206,984
Deprcelatlo
At l Apn'l 2023
Charge for the year
15.960
1.140
8,000
85,205
684
16,098
8,898
125,263
10,722
At 31 March 2024
17,100
8,000
85,889
24,996
135,985
Net bookvalu
At 31 March 2024
39,900
2,506
28.593
70.999
At 31 March 2023
41,040
3.190
37.491
81.721
Debtorn
2024
2023
Sundry debtors
Other debtors
69,073
7,077
70.256
1,331
76,150
71,587
Credltors: amounts falling due
withln one year
2024
2023
Taxes and social security creditor
Bank loons and overdrdfts
Other ¢r¢ditors
Deferred in¢ome O%'ote 10)
Accruals
8,066
1,6E5
14,013
1.257
2.789
59,866
IE,598
57.760
10.105
77,546
89,523
Page 18

Bogside & Brandywell Initiative Ltd
(A company limited by guarantee)
Notes to the accounts
for the year ended 31 March 2024
10.
Deferred Income
2024
2023
Bolanee at l April 2023
Additions during the year
Amounts released to income
59.866
9.351
(501,015) (518.046)
498.909
448.829
Balance at 31 March 2024
57,760
59,866
Income h&s been deferred &5 income received before the end of the finan¢iol year 31 Ma￿h 2024
and relates to post year end expenditure.
11. Movements in Funds
At
l April Incoming Outgoing
2023 resources resources Transfer
At
31 March
2024
RLstricted funds:
Total restricted funds
29,053
498,909 (505,514)
22.448
Unre5trfcted tknnds:
Total unr¢5tricted funds
138,335
74,135
(89,884)
122,586
Total ￿ndS
167,388 573,044 (595,398)
145,034
Purposes of Restrfcted Funds
Restricted grants awarded to the charlty fs provEded to cover the core objects.
12.
Anatysis ofnot assotx between funds
Unrestrlcted Restrlcted
funds
fund5
Total
runds
Fund balances at 31 Mar¢h 2024 as represented by:
Tangible fi.xed assets
Current &ssets
Current liabilities
48,55l
22,448
70,999
75.650
75,931
151,581
(1,615) (75.931) (77,546)
122,586
22,448
145.034
13.
Cash and Cash Equivalents
2024
2023
Cash ot bank and in hand
75.431
103,603
Page 19

Bogside & Brandywell Initiative Ltd
(A company limitcd by guarantee)
Notes to the accounts
for the year ended 31 March 2024
14.
Related Party Transaellons
Ther¢ was no related paty transactions In the year under review.
IS. Llmlted by Guarnniee
The company is limited by guarante¢ and does not have a share capital.
16. CoDtrolling interest
Controlling interest rests with the Board of Director&
17. P05t Balonce Sbeet events
No significant events have taken place since tlie year end that would result in adjustments to 2024
flnanclal Infonnatiort or inclusion of a note thercto.
Page 20