COMPANY REGISTRATION NUMBER: N1602079 CHARITY REGISTRATION NUMBER: NIC101934 Coleraine Rural & Urban Network Company Limited by Guarantee Unaudited Financial Statements 31 March 2025 DONALDSON & THOMPSON Chartered Accountants 3 Limavady Road Londonderry BT47 6JU
Coleraine Rural & Urban Network Company Llmlted by Guarantee Flnanelal Statements Year ended 31 March 2025 Pago Trustees, annual r8POrt (incorporating the directorfs r8POrt) Independent examine¢s report to the trustees Statement of financial activities (including income and expenditure aGcount) statement of financial position Notes to the financial statements
Coleraine Rural & Urban Network Company Llmlted by Guarantse Trustees. Annual Raport (Incorporatlng the Dlrectorfs Report) Year ended 31 March 2025 The trustees. who are also the directors for the purposes of company law, present thelr report and the unaudited financlal statements of the charity for the year ended 31 March 2025. Rafaronce and admlnlstratlvo dota118 Roglstored charlty nam• Coleraine Rural & Urban Network Charlty reglstratlon nurnber NIC101934 Company reg18tratlon number N1602079 Princlpal offlce and roglsterod 18rook Slre8t offl Coleraine Co. Londonderry BT52 1PW Thè trugteos Robert Rilchie Ann McNlckle Angela Welch Indepondant examlner Donaldson & Thompson Chartered A¢¢ountants 3 Limavady Road Londonderry BT47 6JU Struetur•, govomance and manag•ment The organisation is a charitable company limited by guarantee. incorporated on 10th February 2010, accepted as a charity by HM Revenue & Customs under reference XT24573 and registered with the Charity Commission for Northern Ireland on 12th May 2016 under charity number NIC101934. The company was established under a Memorandum of Association whlch states the oblects and powers of the charitable company and Is governed under its Articles of Association. In th8 event of the company being wound up members are r8quired to contrlbute an amount not exceeding £1. ObJectlve8 and actlvltles The prSnclpal actlvlty of thg ¢harlty Is to prornote the benefit of the inhabitants of the North West region and in particular to support and develop the vnrk of community-based and voluntary groups in charitable activities which seek to relieve poverty. advance educatlon and Improve the quality of Ilfe of the Inhabilanls by provldlng office accommodation and support services and an Incluslve open venue for members of the community. The charity's trustee5 have had regard to the Charlty Commlsslon for Northem Ireland's guidance on publlc benefit.
Coleraine Rural & Urban Network Company Llmlted by Guarantoè Trustees. Annual Raport (Incorporatlng the Dlrectorfs Report) (conUnu•d) Year andad 31 March 2025 Achlovomonts and performanc• The communlty hub remalns at full capacity for shoploffice rental wlth 3 occupants. being here from day one. We have had a permanent resldent in meeling room 1, but this ceased In July 24 but a full-time occupant is now in meeting room 3 for the foreseeable future. The conference room and meeting room rentals are now r8C8iving more bookings. A steady progress Is being made in meeting room bookings, the projects within Causeway Rural & Urban Nelwork continue to be the main occupant. These will again increase durlng the future years. Flnanclal revlew Tho r8sults for th8 year are contained in the financial ststements from page 5. The Communlty Hub has improved its rental performance over the past financlal year 8nd is looking to improva this perfomiance Sn the followlng years, especially with more fr88doms and less restrlctions on m88ting in public places. Plans for futurn perfods The trustees wlll continue to build on what Coleraine Rural & Urban Nelwork has established the past few years and maintain its core values and objectives to ensure the continued developmenl. An advertising campaign continues to encourage new and previous users to return to the building for meetings and Iralnlng. Small company provl8lon8 This report has been prepared In accordance with the provisions applicable to companies entitlad to the small companles exemption. The trustees, annual report was approved on 7 October 2025 and signed on behalf of the board of trustees by: Robert Ritchie Trustee Ann McNickle Trustee
Coleraine Rural & Urban Network Company Llmlted by Guaranteo Independent Examlnerfs Report to the Trustees of Coleralno Rural & Urban Network Year ended 31 March 2025 I report on the financial statemgnts for th8 year ended 31 March 2025, whlch comprfs8 the statement of financlal actlvltles (Including income and expenditure account), stalement of financial position and the related note5. Re8POCtlv• r•sponslbllltl•s of trustees and •xamlnor The charily's trustees (vtho are also the directors of Ihe company for the purposes of company law) are responsible for the preparalion of the accounts in accordance wlth the requirements of the Companles Act 2006. Having satisfied myself that the charlty is not subject to audlt under company law, and Is 8llglbl8 for Independent examination, it is my responslblllty to: examine the accounts under 8ects.on 65 of the Charities Act. to follow the procedures laid down in the general Directions given by the Charlty Cornmlsslon for Northern Ireland under section 65(9)(b) of the Charities Act,. and to stat8 whether partlcular rnatters have come to my attentlon, Basls of Indepondent examlnerfs report I have examlned your charity accounts as requlred under section 65 of the Charltles Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under sectlon 65(9)(b) of the Charities Act. The examination included a revlew of the accounting records kept by the charity and a cornparison of the accounts presented with those records. It also includ8d consideration of any unusual Items or disclosures in th8 accounts, and seeking explanatlons from th8 trustees conceming any such matters. My role is to stste whether any materlal matters have corne to my attentlon glvlng me cause to belleve-. That accountlng records were not kept in accordance wlth 8ectlon 386 of the Companies Act 2006 That the accounts do not accord wlth those accounting records That 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 appllcab18 to charftles preparing their accounts In accordance wlth th8 Flnanclal Reporting Standard applicable in the UK and Republic of Ireland. That there Is further information needed for a proper understandlng of the accounts to be reached.
Coleralne Rural & Urban Network Company Llmltod by Guaranto8 Independent Examlner'8 Report to the Trustees of Coleralna Rural & Urban Network (condnu•d) Year ended 31 March 2025 Ind8p•nd•nt •xamlner'8 8tatoment I have completed my examlnatlon and have no concerns in respect of th8 matters (1) 10 {4> listed above and. in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Donaldson & Thompson Chartered Accountants Independent Examiner 3 Llmavady Road Londondarry BT47 6JU 7 October 2025
Coleraine Rural & Urban Network Company Llmlted by Guarantee Statement of Flnanclal Activitles (Including income and èxpendlture account) Year ended 31 March 2025 2025 Unrestrfcted funds Total funds Total funds 2024 Nol• Income and endowments Charitable actlvilies 54,809 54,809 $4,809 58,830 Total Income 54,809 58,830 Expendlture Expendilure on charitable activities Total expendlture 105,099 105,099 105,099 102,383 105,099 102,383 Nat oxpendlturn and net movement In fvnds (50,290) (50.290) (43,553) Reconclllallon of funds Total funds brought forward Total funds carrled forward 1,875,701 1,875,701 1,825,411 1,919,254 1.825.411 1,875.701 The statemenl of financial activities includes all gains and losses recognlsed in the year. All income and expendbture derlve from continuing activities. Th• not•• on pago• 7 to 12 form p•rt of those financlal $tatement•.
Coleralne Rural & Urban Network Company Llmltod by Guarantee statement of Flnanclal Posltlon 31 March 2025 2025 2024 Not• Flxod assets Tanglble flxed assets 13 1,801,507 1,846.449 Current a880t8 Debtors Cash at bank and in hand 14 11,908 58,768 8,939 80.286 70.676 89,225 Credltorn: amounts falllng due wlthln on• y•ar Net current assels 15 46,772 59.973 23,904 29.252 Total a880t81088 current Ilabllltles 1.825,411 1,825,411 1,875.701 1,875,701 Not assets Funds of tho charfty Unrestricted funds 1,825,411 1,825,411 1.875,701 Total charlty funds 16 1,875,701 For the year ending 31 March 2025 the charity was entitled to exemptlon from audit under Section 477 of the Companles Act 2006 relating to small companies. Dlr8Ctors' responsiblliti8S: The members have not required the company to obtaln an audit of Its financial statements for the year in question in accordance with section 476,. The directors acknowledge Ihelr responsibililies for complying with the requirements of the Act wlth respect to accounting records and the preparation of financial statements. These financlal statements have been prepared in accordance with the provisions applicable to companies subject to the small companles. girne. These financial statements were approved by the board of trustees and authorlsed for Issue on 7 October 2025, and are signed on behalf of the board by: Robert Rltchle Trustee Ann McNlckle Trustee Company reglstration number. N1602079 The company Is a prlvata limited company limited by guarantee. registered in North8m Ireland. The not•8 on pag•8 7 to 12 form part of those Iln•n¢lal slatoments.
Coleraine Rural & Urban Network Company Llmlted by Guarantee Notes to the Flnanclal Statements Year ended 31 March 2025 General Infomiatlon The charity is a public benefit entity and a prlvate company limited by guarantee, reglstered In Northern Ireland and a registered charity in Northem Ireland. The address of the registered office is 1 Brook Street. Coleralne. Co. Londonderry, BT52 1 PW. statement of compllanc• These financial ststements have been prepared in compliance with FRS 102, 'The Flnanclal Reporting Standard appllcable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to chari15es preparlng their accounts in accordance wlth the Flnanclal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accountlng pollcles Basls of proparatlon Th8 flnanclal statements have been prepared on the hlstorlcal cost basis, as modified by the revaluation of certaln financlal assets and liabilities and investment properties measured al fair value through income or expendiiure. The financlal statements are prepared in sterling. whlch Is tha functlonal currency of the entlty. Golng concgm There are no materSal uncertalnties about the charity's ability to contlnue. Judgements and kay sources of estlmatlon uncertalnty The preparation of the financial statements requires management to make ludgements, eslimales and assumptions that affect the arnounts reported. These estimates and judgemenls are continually revlewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unreslrlcted funds are avallable for use at the dlscr8tlon of the trustees to further any of the charity's purposes. Designated funds are unrestrlcted funds earmarked by the trustees for partlcular future project or ¢ommSlm8nl, Restricted funds are subjected to re5trtction5 on their expendlture declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds.
Coleralne Rural & Urban Network Company Llmlted by Guarantee Notes to the Flnanclal Statements (¢(Y¥tlnu Year ended 31 March 2025 Accountlng pollc108 (¢onllnu•d) Inoomlng resources All Incomlng resources are included In th8 statement of financial activFtles when entStl8m8nt has passed to the charlly: It Is probable that the economlc benefits assoclated wllh the transaction will flow to the charity and the amount can be reliably measured. Th8 followlng speclfic polici88 are applied to partlcular categon'es of incom8: income from donatlons or grants is recognised vthen th8re is evldence of 8ntitlement to tho glft, recelpt is probablo and its amount can be measured reliably. legacy Income is recognised when receipt is probable and entitlement is established. Income from donated goods is measured at the faSr value of the goods unless thi5 Is impractical to measure reliably. in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilitles and SeICe$ are r8cognis8d In th8 accounts when r8C81v8d If the value can be reliably m8asur6d. No amounts are included for the conlribution of general voluntéers. Income from contracts for the supply of services is recognised with the delivery of the contracted servlce. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent. in which case It may be regarded as restricted. Resources axpended Expenditure is recognls8d on an accruals basis as a liability is Incurred. Expenditure includes any VAT which cannot be fully recovered. and is classified under headlngs of the statement of flnanclal activities lo which it r81ates: 8xpendlture on ralslng funds includes the costs of all fundralslng activities, events, non-charitable trading actlvities, and the sale of donated goods. expenditure on charitable activities Includes all costs Incurred by a charlty In undertaklng activities that further its charitable aims for tha benefit of its beneficiarie5, including those support costs and costs relating lo the governance of the charlty apportioned to charitsble activities. other expenditure includes all expendlture that Is neither related to raislng funds for the charity nor part of 5tS 8XP8ndlture on charitsble actlvttles. All cosls are allocatad to expendlture categories reflecting the use of the resource. Direct costs atlrlbutable to a single activity are allocated dlrectly to that activity. Shargd costs are apportioned between the actlvltles they contrlbute to on a reasonable, Justifiable and consistent basis. Tanglble as8et8 Tangible fixed assets are stat8d at cost less accumulated depreciation and accumLtlated Impalrment loss. Cost includes all costs Ihal are directly attributable to brlnglng the ass8t Into working condltlon for Its intended use. Deprecialion is provlded at rate5 calculated to write off the cost less residual value of each asset over Its expected useful lrfe, as follows..
Coleraine Rural & Urban Network Company Llmlted by Guarantee Notes to the Flnanclal Statements (conthiu Year ended 31 March 2025 Accountlng pollclo8 (¢ondnufjdJ Depreclatlon Depreclatlon Is calculatèd so as to wrlte off th8 Cost or valuatlon of an asset. less Its rasldual value, over the useful economic lrfe of that asset as follows: Freehold property Flxtures, fittings & equipment 2% straight line 20¥0 Straight line Impalrniont of flxed avots A review for Indlcators of Impalmient is carried out at 8ach reportlng date, with the recoverable amount being estimated where such indicators exist. Where the carrylng value exceeds the recoverable amount, the asset is impaired accordingly, Prior Impairments are also reviewed for possible reversal at each reporting date. For the purposes of Impalmient testlng, when it is not possSble to estlmate the recoverable amount of an individual asset, an estlrnate Ss made of the r8cov8rable amount of the cash-generatlng unlt to whlch the asset belongs. The Cashenerating unit is the smallest Identifiable group of assets that includes the asset and generates cash Inflows that largely independent of the cash inflows from olher assets or groups of assets. For impairment testlng of goodwlll, the goodwill acquired in a business combination is, from the acquisition date, allocat8d lo each of ihe cash-generating units that are expected to benefit from the synergies of the combination. irrespectlve of whether other assets or liabilitles of the charity are assigned to those unlts. Flnanclal Instrum•nt8 A financial asset or a financial liabillty Is recognlsed only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised al the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where It Is recognised at the present value of the future payments discounted al a market rate of interest for a slmilar debt instrument. Current assets and current Ilablllties are subsequently measured at the cash or other conslderation expected to be paid or recead and not discounted. Debt Instruments are subsequently measured at amortlsed cost. Llmllod by guarant•• Colerain8 Rural & Urban Nelwork is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be requlred not 8xceedlng £1 to the assets of the charitable company In the event of its being wound up wh118 he or she is a member, or wllhin one year after he or sh8 Ceases to be a member.
Coleralne Rural & Urban Network Company Llmlted by Guarantee Notes to the Flnanclal Statements (conthiu•d) Year ended 31 March 2025 Charltablo actlvltles Unrestrlcted Total Funds Unrestficted Total Funds Funds 2025 Funds 2024 Room hlre CRUN - Rent recelved CAB - Rent received Age Concern - Rent recelved Action for Children - Rent rec8Ned CRUN - Servlce charge CAB - Service charge Action for Children - Service charg& 11,571 9,960 9,960 9,960 11,571 9,960 9,960 9,960 11,644 9,960 9,960 9,960 340 8.876 7.874 218 11,644 9,960 9,960 9,960 340 8,876 7,874 216 6,679 6,679 6.679 6,679 54,809 54.809 58.830 58,830 Expendlture on charltablo aclivltles by fund typo Unrestricted Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Communlty tralnlng & educatlon facility Support costs 100,743 4.356 100,743 4,356 105,099 99,327 3,056 99.327 3,056 105,099 102,383 102.383 Exp•ndlture on charftable actlvltle8 by aetlvlty typo Activities undertaken directly Support Total funds costs 2025 Total fund 2024 Community training & educallon faclllty Governanca costs 100.743 1,012 3,344 101,755 100,086 2,297 100.743 4,356 105,099 102.383 Analysls of support costs Communty faclllty Total 2025 Total 2024 General offlce Finance costs Governance costs 901 111 3,344 901 647 112 2,297 3,344 4,356 4,356 3,056 10
Coleralne Rural & Urban Network Company Llmltod by Guarantee Notes to the Flnanclal Ststements (¢onthiu Yaar ended 31 March 2025 Net expendlture Net expenditure is stated after chargingl(crediting): 2025 2024 Depreciatlon of tangible fixed assets 44,942 45.358 10. Independont examlnatlon fM8 2025 2024 Fees payable to the independent examiner for: Independent examlnation of the financial statements 360 360 11. Slaff costs The average head count of employees during the year was Nil {2024: Nil). No employee received employee benefits of more than £60,000 durlng the year (2024: NII). 12. Trust•• rnmunoratlon and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the truslees. No trust88 8XP8ns8s have been Incurred. 13. Tanglblo flxod assets Land and FSxturas and buildings fittings Total Cost At 1 Apr 2024 and 31 Mar 2025 Doproclatlon At 1 Apr 2024 Charge for the year At 31 Mar 2025 2,191,535 27,914 2,219,449 350,646 43.830 22,354 1,112 373,000 44,942 417,942 394,476 23,466 Carrylng amount At 31 Mar 2025 1.797,059 4,448 1,801,507 1.846,449 At 31 Mar 2024 1.840.889 5,560 14. Debtors 2025 2024 Prepayments and accrued income 11,908 8,939 11
Coleralne Rural & Urban Network Company Llmltad by Guarantee Notes to the Flnanclal Statements (¢onllnu•d) Year ended 31 March 2025 15. Crodltors: amounts falllng du• wlthln on• year 2025 2024 Accruals and deferred Income Other creditors 2,712 44,060 3,580 56,393 46.772 59,973 16. Analys1• of charltable funds Unrestrlct•d funds At 1 Apr 2024 At Income Expendlture 31 Mar 2025 Unrestricted Fund 1.875,701 54,809 (105,099) 1,825,411 At 1 Apr 2023 At Income Expendlture 31 Mar 2024 Unrestrlcted Fund 1.919.254 58,830 (102,383) 1.875,701 17. Analy515 of net a88ets between funds Unrestricted Total Funds Funds 2025 Tangible fixed assets Current assets Creditors less than 1 year Net assets 1,801,507 70,676 (46,772) 1.825.411 1,801,507 70,676 (46,772) 1,825,411 Unrestricted Total Funds Funds 2024 TangSble flxed assets Current assets Credltors less than 1 year Not assets 1,846,449 89,225 (59,973) 1.875.701 1,846,449 89,225 {59.973) 1,875.701 12