Company registration number: N133782 Charity registration number.. NICI 01991 The Village Garden (Broughshane) Ltd (A company limited by share capital) Annual Report and Financial Statements for the Year Ended 31 March 2024
The Village Garden (Broughshane) Ltd Contents Reference and Administrative Details Trustees, Report 2to4 Independent Examiner's Report Statement of Financial Activities Balance Sheet 7t08 Notes to the Financial Statements 9t0 17
The Village Garden (Broughshane) Ltd Reference and Administrative Details Trustees Mr Barry Bamber Mrs Mae Clark Mr Andrew Davison Mr Leonaid Fenton Mrs Mary Knox Dr Tony R¢dmond Mr Sandy Wilson Mrs Anna Louise Lamont Secretary Mrs Anna Louise Lamont Charity Registration Number NIC101991 Company Registration Number N133782 The charity is incorporated in Northern ireland. Broughshane House 70 Main Street Broughshane BT42 4JW Registered Offiee Independent Examiner DT Carson & Co. 51 53 Thomas Street Ballymena Co. Antrim B T43 6AZ Solicitors: McKervill, Neilly l Broadway Avenue Ballyrnena Co Antrim B T43 7AA Bankers Ulster Bank Ltd Wellington Street Ballym¢na Page I
The Village Garden (Broughshane) Ltd Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024. Objectives and activities Objecls and The company's objectives and Principal activites are to promote benefit of the inhabitants of the Broughshane and surrounding area without distinction of race, religion or political opinion. Objectives, stralegies and acllvllles The main objectives and activities for the year continued to focus on the promotion of the area and its inhabitants. The strategies employed to meet these objectives included: Offer a neutral venue for any grouplorganisationlindividual in which to meet. Liaise with the statutorylvoluntary organisations and act as a lead partner for Ballymena East Rwal Community Cluster Act as an advice centre to our affiliated groups along with administrativeloffice support. Provide rental office accomodation in order to generate a sustainable income. Provide rental of a cottage. Maintenance of a website. Support and develop connections of all communitylvoluntary groups in the area. Provide support in organising community events. Public benefil The trustees confirn] that they have complied with the requirements of the Charities Act (Northern Ireland) 2008 to have due regard to the publi¢ benefit guidance published by the Charity Commission for Northern Ireland. Financial review Pollcy on reserves The Charity aims to use their income in furtherance of their objectives and any small amounts in the unrestricted fimds are held to meet any unforseen expenditure that may occur. Trustees and officers The trustees and officers serving during the year and since the year end were as follows: Page 2
The Village Garden (Broughshane) Ltd Trustees, Report Trustees., Mr Barry Bamber Mrs Mae Clark Mr Andrew Davison Mr Leonard Fenton Mrs Mary Knox Dr Tony Redmond Mr Sandy Wilson Mrs Anna Louise Lamont Secretary: Mrs Anna Louise Lamont Structure* governgnee and management Nftlure ofgovernlng documenl The organisation is a charitable company limit¢d by guarantee, incorporated on 4 March 1998, registered as a charity with HMRC on 6 September 2001 and registered with The Northern Ireland Charities Commission on 9 October 2015. The Company was established under a Memorandum of Association which established the objects and powers of the charitable Company and is governed under it's Articles of Association. In the event of the company being wound up, trust¢es ar¢ required to contribute an amount not exceeding £5. Recruilmenl and appolnlmen¢ of Iruslees UndeT the requirements of the Memorandum and Articles of Association, the trustees are elected to serve until the next Annual General Meeting following their appointment after which they are eligible for re-election. Organlsallonal slruelure The development manager is responsible for the organisation and administration of the charity. An assistant is employed to look after the cleaning and maint¢nanc¢ of Houston's Mill and Brough5hane House. Page 3
The Village Garden (Broughshane) Ltd Trustees, Report St8tement of trustees, responsibilities The trustees (who are also the directors of The Village Garden (Brough5hane) Ltd for the purposes of company law) are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under company 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 affairs of the charitable company and of the incoming resources and application of resources, including its incorne and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and apply them consistently. observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements. and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company 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 infonnation included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. The annual report was approved by the trustees of the charity on 25 June 2024 and 5ign¢d on its behalf by: Mrs Anna Louise Lamont Company Secretary Page 4
The Village Garden (Broughshane) Ltd Independent Examiner's Report to the trustees of The Village Garden (Broughshane) Ltd ('the Company,) I report to the charity irust¢¢s on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basis of report As the charity's trustees of The Village Garden (Broughshane) Ltd (and also its director5 for the purposes of company law) you aTe responsible for the preparation of the accounts in accordance with th¢ requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of The Village Garden (Bioughshane) Ltd are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 65 of the Charities Act (Northern Ireland) 2008. In carrying out my examination I have followed the Directions given by th¢ Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. An independent examination does not involve gath¢ring all the evidence that would be required in an audit and onsequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and conduct of an audit goes beyond the limited assurance that an independent ¢xamination can provide. Consequently I express no opinion as to whether the accounts present a 'true and fair. view and my report is limited to those specific matters set out in the independent examiner's statement. Independent examiner's statement I have completed my examination. I confirni that no matters have come to my attention in connection with the examination giving me cause to believe: l. accounting records were not kept in respect of Th¢ Village Garden (Broughshane) Ltd as required by 5¢Ction 386 of th¢ 2006 Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requiremenls of section 396 of the 2006 Act other than any r¢quirem¢nt that the accounts give a 'true and fair view, which is not a matter Considered as part of an ind¢pendent examination: or 4. the accounts have not been prepared in accordance with the melhods and principles of the Statement of R¢comrnend¢d Practice for accounting and reporting by charities [applicable to charjties preparing their accounts in a¢cordan¢¢ with the Financial Reporting Standard applicabl¢ in the UK and Republic of Ireland (FRS 102)]. I have no concern5 and hav¢ come acr055 no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Edwin ¢Laugiilin Chartered Accountants Ireland 51- 53 Thomas Street Ballymena Co. Antrim B T43 6AZ 25 June 2024 Page 5
The Village Garden (Broughshane) Ltd Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expendlture Account and Statement of Total Recognised Gains and Losses) Total 2024 Unrestricted Restricted Note Ineome and Endowments from: Charitable activities 79,188 3,000 82,188 Total Income 79,188 3,000 82,188 Expenditure on: Charitable activities 129,125 (3,000) (132,125 Total Expenditure (129,125 3,000 (132,125) Net expenditure Transfers between funds (49,937) 67,439 (49,937) 67,439 Net movement in funds 17,502 (67,439) (49,937) Reconeiliation offunds Total ndS brought forward 280,661 680,620 961.281 Total funds carried forward 12 298,163 613,181 911,344 Total 2023 Unrestricted Restricted Note Income and Endowments from: Charitable activities 81,946 4,488 86,434 Total Income 81,946 4,488 86,434 Expenditure on.. Charitable activities (138,631) (4,488) 143,119) Total Expenditure (138,631 (4,488) (143,119} Net expenditure Transfers between funds (56,685) 67.474 (56,685) (67,474) Net movement in funds 10,789 (67,474) (56,685) Reconciliation of funds Total funds brought forward 269,872 748,094 1,017.966 Total funds carried forward 12 280.661 680.620 961,281 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 12. The notes on pages 9 to 17 forni an integral part of these financial statements. Page 6
The Village Garden (Broughshane) Ltd (Registration number: N133782) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets Envestments 530,724 456,626 572,009 456,626 987,350 1,028.635 Current assets Debtors Cash at bank and in hand io 7,153 4.646 4,975 18,858 11,799 23,833 Creditors.. Amounts falling due within One year Net current liabilities (87,805) (91,187) (76,006) (67,354) Net assets 911,344 961,281 Funds of the charity: Restricted ineome funds Restricted funds 12 613,181 680,620 Unrestricted income funds Unrestricted funds 298.163 280.661 Total funds 12 911,344 961,281 The notes on pages 9 to 17 form an integral part of these financial statements. Page 7
The Village Garden (Broughshane) Ltd (Registration number: N133782) Balance Sheet as at 31 March 2024 For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476. and The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The financial statements on pages 6 to 17 were approved by the tStees, and authorised for issue on 25 June 2024 and signed on their behalf by.. amber Dr Tony Redmond Trustee Trustee The notes on pages 9 to 17 forni an integral part of these financial statements. Page 8
The Village Garden (Broughshane) Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity status The charity is limited by share capital, incorporated in Northern ireland. The address of its regi5t¢red office is.. Broughshane House 70 Main Street Broughshane BT42 4JW These fInancial statements were authorised for issue by the trustees on 25 June 2024. 2 Accounting polieies Summary of signifieant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been conslstently applied to all th¢ years presenfrd, unless otherwise stated. Statement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act (Northern Ireland) 2008. Basis of preparation The Village Garden (Broughshane) Ltd 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 notes. Going concern The trustees consider that there are no material uncertainti¢s about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by th¢ charity. Exetnption from preparing a cash flow statement The charity opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Pag¢ 9
The Village Garden (Broughshane) Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Income and endowments Donations and legacies Donations are recognised when the charity has been T]Otified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perfonnance by the charity before the harity is entitled to the nds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfjlled in the reporting period. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spenL and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Choritable aclivilles Charitable expenditure comprises those costs inCued 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 a¢tivities and those costs of an indirect nature necessary to support them. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitsble cornpany for UK coryoration tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of incorne or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assets are initially recorded at cost. less any sub5equ¢nt accumulated depreciation and subsequent accumulated impairnient losses. Depreciation 8nd amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows: Page 10
The Village Garden (Broughshane) Ltd Notes to the Financial Statements for the Year Ended 31 Mareh 2024 Asset class Land & buildings Furnire & equipment Investment property Depreelation method and rate 40/0 Straight-line 200/0 reducing balance Investment properti Certain of the charity's properties are held for long-terni investment. No depreciation is provided in respect of investment prop¢rties. This treatment as regards the charity's investment properties may b¢ a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, th¢se properties are not held for comsumption but for investment and the trustees consider that systemic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to giv¢ a true and fair view. Fixed asset investments Fix¢d asset investments are includ¢ at Qu¢nt value. Trade debtors Trade debtors are amounts due for servic¢s perforn]ed in the ordinary COUTse of business. Fund structure Unr¢stri¢t¢d income funds are general funds that are available foi use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for sp¢cifi¢ puryTr05es, the use of which is restricted to that area or purpose. Pagell
The Village Garden (Broughshane) Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 3 Income from eharitable activities Unrestrieted funds General Restricted funds Total 2024 Total 2023 Donations Donation from Broughshane & District Community Association Donation from Ballymena East Rural Community Cluster Energia Rathsherry Community Benefit Fund Deara Micro Grant Rental Income Other Encome 1,200 1,200 1,750 4.000 4,000 8,000 3,000 3,000 3,000 3,000 3,000 1,488 62,818 9,378 59,480 11,508 59,480 11,508 79,188 3,000 82.188 86,434 Page 12
The Village Garden (Broughshane) Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 4 Expenditure on eharltable activities Unrestricted funds General Restrieted funds Total 2024 Total 2023 Salaries & staff pensions Water Tates LighL heat & power Insurance Repairs & maintenan¢¢ Telephone Printin& stationery & advertising Sundry expense5 Project costs Bank charges Loan interest Accountancy Depreciation of property Depreciation of furniture & equipm¢Dt 38,085 1,533 21,804 8,032 10,447 2,727 754 1,701 38,085 1,533 23,604 8,932 10,447 3,027 754 1,701 37,954 1.255 24,823 6,097 22,539 3,041 904 1,818 600 134 607 1,200 40,202 1,800 900 300 176 881 1,200 40,202 176 881 1,200 40,202 1,583 .583 1,945 129,125 3,000 132,125 143,119 5 Net incomingloutgoing resources Net outgoing r¢50ur¢es for the year include: 2024 2023 Depreciation of fixed assets 41.785 42,147 Page 13
The Village Garden (Broughshane) Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 6 Staff eosts The monthly average number of persons (including senior management I leadership team) employed by the charity during the year expressed as full time equivalents was as follows.. 2024 2023 No. of employees No employee received emoluments of more than £60,000 during the year. 7 Taxation The Charity is a registered charity and is therefore exempt from taxation. Page 14
The Village Garden (Broughshane) Ltd Notes to the Financial Statements for the Year Ei nded 31 March 2024 8 Tangible fixed assets Land and bulldings Furniture And equipment Motor vehicles Total Cost At l April 2023 Net additions 1,005,061 133,768 500 10,475 1,149,304 500 At 31 March 2024 1,005,061 134,268 10,475 1,149,804 Depreeiation At l April 2023 Charge for the year 438,886 40,202 128,004 1,566 10,405 17 577,295 41,785 At 31 March 2024 479,088 129,570 10,422 619,080 Net book value At 31 March 2024 525,973 4,698 53 530,724 At 31 March 2023 566,175 5,764 70 572,009 9 Fixed asset investments 2024 2023 Investment properties 456,626 456.626 10 Debtors 2024 2023 Trade debtors Prepayments Other debtors 6,256 897 2,226 1,261 1.488 7,153 4,975 Page 15
The Village Garden (Broughshane) Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 11 Creditors: amounts falling due within one year 2024 2023 Other loans Other taxation and social security VAT payable Accrnals 74,667 1,884 4,984 6,270 78,087 1,959 6,675 4,466 91,187 87,805 12 Funds Balance at 31 March 2024 Balance at I April 2023 Incoming resources Resources expended Transfers Unrestricted funds General General unrestricted fund 280,661 79,188 (129,125) 67,439 298,163 Restricted funds Deferred grants fund CFNI Department for Communities 680,620 (67,439) 613,181 3,000 (3,000) Total restricted funds 680,620 3,000 3,000) (67,439) 613.181 Total funds 961,281 82.188 {132.125) 911,344 Page 16
The Village Garden (Broughshane) Ltd Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at 31 March 2023 Balance at I April 2022 Incoming resources Resourees expended Transfers Unrestrieted funds General General unrestricted fid 269,872 81,946 (138,631) 67,474 280,661 Restrieted Deferred grants fund DEARA Rural Micro Capital Grant Rathsherry Community Benefit Fund 748,094 (67,474) 680,620 1,488 (1,488) 3.000 (3,000) Total restricted funds 748,094 4,488 (4,488) (67,474) 680,620 Total funds 1,017,966 86,434 (143,119) 961,281 13 Related party transactions During the year the charity mad¢ the following related party transactions: The Redmond Family At the balance sheet date the amount due to The Redmond Family was £40,000 (2023 - £40,000). Page 17