Redrock Development Partnership (Company Limited by Guarantee) Annual Report For the year ended 31 March 2024 Registered Company Number: N1606565 Registered Charity Commission for Northern Ireland NIC 101893 Noel Conn & Company Chartered Accountants Redrock Development Partnership Annual Report for the year ended 31 March 2024 Contents Trustees and other information.....,............. Trustees, Report................. statement of Trustees, Responsibilities...... ..... Independent Accountants, Report. Statement of Financial Activities,.. Statement of Financial Position........ Notes to the financial statements............... Redrock Development Partnership Trustees and other information Trustees Mr Mervyn Dougan Mrs Roberta Elizabeth Kennedy Mr David Samuel Mccall Mrs Diane Roberta Woods Secretary Mrs Anne Elizabeth King Contact Details Mr MeNyn Dougan 97 Redrock Road Armagh BT60 2BN Email: redrockd 79 Telephone.. 028 37551552 ahoo.co.uk Reporting Accountants Noel Conn & Company 7 Seven Houses English Street Armagh County Armagh BT617LA Bankers Ulster Bank English Street Armagh Santander Bootle, Merseyside, GIR OAA Charity Commission Northern Ireland Number NIC 101893 Redrock Development Partnership Trustees, report for the year ended 31 March 2024 The trustees, who are also directors present their report and the unaudited financial statements for the year ended 31 March 2024. structure, governance and management The charity is an incorporaled body, and is registered as a charity for tax purposes with HM Revenue and Customs No XT 28113. The charity is under the control of the Trustees as detailed out in the charity constitution. The charity is recognised as a charity under the Charity Cornmission for Northern Ireland as al the date of registration being 11 March 2015. Organisation The Trustees who have seNed during the year are detailed out on page 2. Public Benefit The Trustees believe that both our purposes and the activities undertaken in this last financial year clearly satisfy elements of the public benefit requirement. Statement of Public Benefit The direct benefit which flows from this purpose include improved levels of skills sets, increased knowledge and addressing social exclusion, This is evidenced through the numbers attending classes receiving accreditation and playing an increased role in the wider society. This benefits the residences of Redrock and the surrounding area. We aim lo promote to our beneficences health and wellbeing through leisure activities. There is also improved mental health and physical wellbeing through keep fit, dance classes, talks and demonstrations on healthy eating This is evidenced through attendance particularly from the most marginalised and socially excluded and er)couraging regular health checks prior to and conclusion of series of classes. They are necessary to ensure that benefit is provided to our beneficences to promote awareness of cultural heritage, The direct benefits that flow from this purpose is improved knowledge and skill sets and improved confidence. This is evidenced through numbers attending study visits and learning musical instruments. We aim to address rural poverty and isolation and increasing community development. This is evidenced through numbers attending and accessing benefits following classes and information sessions and the numbers involved in the wider community activities. There is no harm associated with any of our benefits and any private benefit is incidental in that people may gain transferable skills These are necessary to ensure that benefit is provided to our beneficences. Objectives and Activities Redrock Development partnership was formed in April 2003. The Tuesday club for Older People was formed in October 2004 with 18 members which has grown steadily over the years and currently boosts a membership of 69. We are a social group that have a particular interest in Dance and networking, and find that the physical activity side of our programmes helps people wilh their mental and physical health. Our group has become an important focus for our members and our weekly meetings are a support system for those that suffer from isolation and loneliness. Many of our members have suffered from health problems ranging from cancer, stroke, heart disease, diabetes and arthritis and benefit greatly from the social activities that we provide each week. We also carry out computer classes, information evenings, first aid classes, farm safety and culture evenings. Dividends and transfers to reserves In accordance with the memorandum of Association no portion of the company's income may be paid by way of dividend. The surplus for the financial year has been transferred to reserves. Redrock Development Partnership Changes in fixed assets The movements in fixed assets during the year are set out in note 8 to the financial statements. Financial Review and Reserves The principal sources of income are from grants, donations and membership fees. The financial statements show a deficit for the year of £618.00. By order of the Trustees yn Dougan Trustee Date Redrock Development Partnership statement of Trustees, Responsibilities The Trustees, who are also the directors are responsible lor preparing the Trustees, Annual Report and the Financial Statements in accordance with the applicable law and United Kingdom Accounting Standards. The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for each financial year. Under that law the trustees have prepared the financial statements in accordance with Generally Accepted Accounting Practice in the United Kingdom (accounting standards issued by the Financial Reporting Council in the UK, including Charities SORP {FRS 102}. Accounting and Reporting by Charities.. Stat8rnenls of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting standard applicable in the United Kingdom and Republic of Ireland (FRS 1021 and promulgated by the Institute of Chartered Accountants in the United Kingdom and United Kingdom Lawl. Under that law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of the affairs of the charity and of the statement of financial activities of the charity for that period. In preparillg these financial statements, the trustees are required to.. select suitable accounting policies and Ihen apply the consistently., observe the methods and principles in the Charities SORP,. makejudgements and estimates that a reasonable and prudent., state whether the application of accounting standards have been followed, subject to any material departures disclosed and explained the Financial Statements,. prepare the Financial Statements on the going concem basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable them lo ensure that the financial statements comply with the Charities Act (Northern Ireland} 2008 and the Charity (Accounts and Reports} Regulations (Northem Ireland) 2008. 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. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charities website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdiclions. Accountants A resalulion to re-appoint the Accountants, Noel Conn & Company, will be proposed at the annual general meeting. By order of the Trustees Mervyn Douga Trustee Date Redrock Development Partnership Independent accountants, report on the unaudited accounts to the directors of Redrock Development Partnership. We report on the accounts of Redrock Development Partnership for the year ended 31 March 2024, which are set out on pages 7 to13. Respective responsibilities of charity trustees and examiner As the charity trustees land also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounls in accordance with the requiremenls of the Companies Act 2006. Having being satisfied that the charity is not subject to audit under company law, and is eligible for independent examination, it is our responsibility to.. examine the accounts under section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charily Commission for Northern Ireland under section 65{9)(bl of the Charities Act state whether particular matters have come to our attention. Basis of independent accountants, report We have examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Comrnission for Northern Ireland under section 6519llbl of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees conceming any such matters. Our role is to state whether any material matters have come to our attention giving us cause to believe.. That accounting records were not kept in accordance with section 386 of the Companies Acl 2006 That the accounts do not accord with those accounting records Thal the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordanGe with the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is further infomiation needed for a proper understanding of the accounts to be reached. We have completed our examination and have no concerns in respect of the matters listed above and, in connection wilh following the Directions of the harity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Noel Conn & Company Chartered Accountants 7 Seven Houses English Street Armagh BT617LA 0410712024 Redrock Development Partnership statement of Financial Activities for the year ended 31 March 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Notes Incomin Resources.. Voluntary income Donations Tuesday Club Grants Received Grants Released Other income Activities to Generate Funds Fundraising Events Investment and Other Income 230 230 437 755 755 5,630 747 827 5,600 5,630 747 Total Incoming Resources 1,732 5,630 7,362 6,864 Resources Ex ended." Charitable Activities Charitable Donations Admin istration Costs Eslablishment Costs Other Costs 1,155 1,740 543 1,155 1,740 5,085 2,869 2,645 5,180 4,542 Total Resources Expended 3,438 4,542 7,980 10,694 Net Incomel(Expenditure} for the year 11 {1,706) 1,088 (618) (3,830) Gross Transfers between funds Net Incomel(Expenditure} for the year (4,542) {6,248) 4,542 5,630 (618) (3,830) Transfers inl{outJ of Reserves Reconciliation of Funds Total funds brought forward 57,880 12,222 70,102 73,932 Total Funds to Carry Forward 51,632 17,852 69,484 70,102 Redrock Development Partnership Statement of Financial Position as at 31 March 2024 Employment of Capital Notes Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 Fixed Assets Tangible Assets 35,707 135,481 171,188 176,273 Current Assets Grant Debtors Cash at Bank and in Hand 16,425 16,425 16,425 17,589 Current Liabilities Sir W Allen Loan Creditors,. falling due within one year 500 500 501 50 500 50 Net Current Assetsl(Liabilities) 15,925 15,925 17,088 Total Assets Less Current Liabilities 51,632 135,481 187,113 193,361 Deferred Income- Capital Grants 10 117,629 17,852 117,629 69,484 123,259 70,102 51,632 Funds Unrestricted Funds Restricted Funds 51,632 17,852 69,484 57,880 12,222 70,102 11 For the year ended 31 March 2024, the company was entitled to an exemption under Article 257A of the Companies {Northern Ireland) Order1986. No members have required the company to obtain an audit of its accounts for the year in question in accordance with Article 257BI2). The directors acknowledge their responsibililies for complying with the requirements of the companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies, regime. The financial slatements on pages 7 to 13 were approved by the board of directors on 01 July 2024 and were signed on its behalf by.. Mr M Dougan Trustee Redrock Development Partnership Notes to the financial statements for the year ended 31 March 2024 Principal accounting policies The financial statements have been prepared in accordance with applicable Accounting Standards. A summary of the more important accounting policies is set out below. Basis of accounting The financial statements are prepared in accordance with the historical cost convention. Incoming resources Voluntary income or capital is included in the Statement of Financial Activities when the charity is legally entitled to It, its financial value can be quantified with reasonable certainty and there is reasonable certainty of ils ultimate receipt. Entitlement to legacies is considered established when the charity has been notified of a distribution to be made by the executors. Income received in advance of due performance under a contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal enlitlement have been met. All other income is accounted for on an accrual basis. Resources Expended All resources expended are accounted for on an accrual basis. Charitable activities include costs of seNices and grants, support costs and depreciation on related assets. Costs of generating funds similarly include fundraising activities, Non -staff costs not attributed to one category of activity are allocated or apportioned pro-rat to the staffing of the relevant service. Finance, HR and administrative staff costs are directly attributable to individual activities by objective, Governance costs are those associated with constitutional and statutory requirements. Restricted Funds Restricted funds are accounted for in accordance with the particular terms of trust arising from the express or implied wishes of the donors in so far as these are intended lo be binding on the charity. Where such wishes are not intended to be binding, they are taken into account and recognised in appropriately designated funds. Unrestricted Free Reserves Free Reserves represent amount which are expendable at the discretion of the trustees in furtherance of the objectives of the charity and which have not been designated for any other purpose. Such funds may be held in order to finance working capital or capital expenditure. Tangible fixed assets 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 Ihe assets concerned. The principal annual rates and bases used for this purpose are: Land and Buildings Plant, fixtures and fittings straight-line reducing balance basis 15 Government grants Grants that relate lo specific capital expenditure are treated as deferred income, which is then credited to the Statement of Financial Activities over the related assel's useful life. Revenue grants are credited to the Statement of Financial Activities in the same year as the related expenditure is incurred. Redrock Development Partnership 10. 2. Grants Received Unrestricted Restricted 2024 2024 Total 2024 Total 2023 ABC Council Grant Limavady Community Grant Development Health Committee Grant 755 755 827 755 755 1,228 3. Other Income Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Hall Hire 747 747 747 747 4. Charitable Donations Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Food Parcels 5. Administration Costs Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Accountancy Advertising and Stationery Travel Expenses Entertainment Computer Expenses Professional Fees 360 360 433 20 675 675 776 120 120 1,640 General Expenses 1,155 1,155 2,869 Redrock Development Partnership 11. 6. Establishment Costs Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Insurance Heat and Light Repairs 1,100 370 270 1,740 1,100 370 270 1,740 1,048 825 772 2,456 7. Other Direct Costs Unrestricted Restricted 2024 2024 Total 2024 Tolal 2023 Covid19 Sanitising Kits Bank and Loan Interest 8. Tangible fixed assets Unrestricted Restricted 2024 2024 Total 2024 Total 2023 Depreciation 543 543 4,542 4,542 5,085 5,085 5,180 5,180 9. Creditors: amounts falling due within one year 2024 2023 Accountancy Grants to be Repaid 500 500 500 500 Redrock Development Partnership 12. 10. Deferred Income - Capital Grants 2024 2023 Opening Balance at 1 April 2023 Grants Received Released lo the Profit and Loss Account Closing Balance at 31 March 2024 123,259 755 (5,630) 118,384 128,162 697 5,600 123,259 11. Movement In Funds At the Movement Transfers 0110412023 In Funds inl(out) Transfers In Funds At the 3110312024 Unrestricted Funds General Fund 57,880 (1,7061 {4,542) 51,632 Restricted Funds Restricted Fund 12,222 1,088 4,542 17,852 Total Funds 70,102 (618) 69,484 12. Net Movement in Funds, included In the above are follows: Incoming Resources Movement Resources Expended in Funds Unrestricted Funds General Fund 1,732 13,438) 11,706) Restricted Funds Restricted 5,630 {4,542} 1,088 Total Funds 7,362 (7,9801 (6181 13. Employee Information The charity does not currently have any employees. Redrock Development Partnership 13. 14. Trustees, Remuneration and Benefits One trustee received remuneration during the year ended 31 March 2024. One or more of the Trustees have been reimbursed for approved expenses incurred in connection with the Charity as detailed below.. 2024 2023 Total Amount Paid 228 Number of Trustees Reimbursed All of the above payments related to the reimbursement of travel costs.