Company Number: N1623617 Charity Number: 102011 Burren Vislon Company Llmlted by guarantee Flnancial Statements for the year ended 31 March 2023 McPolin & Murdock ICA) Ltd Chartered Accountants 76a Main Street Castlewellan Co Down BT319DL Burren Vlslon Company limited by guarantee CONTENTS Reference and Administrative Information Directors Annual Report Statement of Directors Reponsibilities Accountants, Report Statement of Financial Activities Balance Sheet Accounting Policies Notes to the Financial Statements io-ii Supplementary Information relating to the Financial Statements 13 Burren Vlslon Company limited by guarantee REFERENCE AND ADMINISTRATIVE INFORMATION Director5 Jennifer McGovern Anne Cassidy Colin Loughran Rory Macauley James McGivern Brendan McKernan Justin Murphy Deirdre Tominey Sean Grant Brian McGivern (Appointed 26/07/221 Ciaran Murdock (Appointed 261071221 Timothy Cunningham (Appointed 261071221 Company secretary Jennifer McGovern Charity Number Northern Irleand 102011 Company Number N1623617 Registered Office and Prlncipal Address St Marys Youth Club Carrog5 Road Burren Newry Co Down BT34 3PY Accountants McPolin & Murdock ICAI Ltd 76a Main Street Castlewellan Co Down BT319DL Bankers Bank Of Ireland 12 Trevor Hill Newry BT34 IDN Burren Vlsion Company Simited by guarantee DIRECTORS ANNUAL REPORT for the year ended 31 March 2023 The directors present their Directors, Annual Report prepared in accordance with Charitie5 SORP leffective January 20151 and the unaudited financial statements for the year ended 31 March 2023 also prepared in accordance with the afforementioned Statement of Recommended Practice The directors, who are a150 trustees of the charity, at the date of this report and those who served during the financial year together with the dates of any changes are set out on page 3 and are listed below. Princlpal Attivities The principal activity of the charitable company is to deliver a wide range of activities for the local community within the Burren area. Directors The directors who served during the year are as folows: Jennifer McGovern Anne Cassidy Colin Loughran Rory Macauley Sean Grant Justin Murphy Brendan McKernan Deirdre Tominey James McGivern Brian McGivern Ciaran Murdock Timothy Cunningham Special provisions relating to Small companies. The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the companies Act 2006. By order of the Board Colin Loughran Director Justi Directo urphy Date 31 March 2024 Burren Vlsion Company limited by guarantee STATEMENT OF DIRECTORS REPONSIBILITIES for the year ended 31 March 2023 The directors are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial statements in accordance with applicable law and regulations. Company law requires the dir@ctors to prepare financlal statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice Iunited Kingdom Accounting Standards and applicable lawl. Under company13W the directors 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 charity and the net income or expenditure of the charity for that period. In preparing these financial statements, the directors are required to: selert suitable accounting policie5 and apply them consistently make judgements and estimates that are reasonable and prudent State whetherthe Charities SORP leffectlve January 20151 has been followed prepare the financial statements on the going concern basis unless it is appropriate that the charity will continue in operation The directors are reponsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with and all Regulations to be construed as one with that Act. They are also reponsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. On behalf of the B ard Colin Lo Directo hran Justi Directo urphy Date 31 March 2024 Burren Vision Company limited by guarantee ACCOUNTANTS, REPORT to the Board of Directors on the unaudited financial statements of Burren Vision for the year ended 31 March 2023. In order to asslst you to fulfill your duties under the Companies Act 2006, we have prepared for your approval the financial statements of the Company for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Accounting Policies and the related notes from the Company's accounting records and from information and explantions you have given to us. This report is made solely to the Board of Directors of Burren Vision, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Burren Vision and state those matters that we have agreed to state to the Board of Directors of Burren Vision, as a body, in this report in accordance with the guidance of Chartered Accountants Ireland. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Burren Vision and its Board of Directors, as a body, for our work or for this report. We have carried out this engagement in accordance with the guidance issued by Chartered Accountants Ireland and have compiled with the ethical guidance laid down by Cha rtered Accountants Irela nd relating to members underta king the compiliation of financial statements. It is your duty to ensure that Burren Vision has kept adequate accounting records and to prepa re statutory financial statements that give a true and fair view of the assets, liabilities, f inancial position and surplus of Burren Vision. You consider that Burren Vision is exempt from the statutory audit requirement forthe year. We have not been instructed to carry out an audit or a review of the financial statement5 of Burren Vision. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explantions you have given to Us and we do not, therefore express any opinion on the statutory financial statements. MCPOLIN & MURDOCK {CAI LTD Chartered Accountants 76a Main Street Castlewellan Co. Down BT319DL Date 31 March 2024 Burren Vlslon Company limited by guarantee STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an income and Expenditure Account) For the year ended 31 March 2023. Unrestrirted Restricted Funds Funds 2023 2023 Total 2023 Total 2022 Incoming Resources Generated funds Grants received Donations received 48,354 48,354 39.811 991 991 1,487 Total incoming resources 48,354 991 49,345 41,298 Resources Expended Net Incoming Resources available for choritable application 48,354 991 49.345 41,298 Resources Expended on Charitable Artivities Charitable Activities 67,373 991 68,364 54,844 Surplus/ldeficitl for the year 19,019 19,019 13,546 Net movement in funds forthe year 19,019 19,019 13,546 Reconciliation of funds 8alances brought forward Balances carried forward at 31 March 2023 42,816 23,797 42,816 23,797 56,362 42,816 Burren Vision Company limited by guarantee BALANCE SHEET 2023 2022 Fixed Assets Tangible assets 1,688,262 1.767.702 Current Assets Cash at bank and in hand 16,147 5,221 Creditors: Amounts falllng due within one year 1,680,611 1,730,107 Net Current Assets 23,797 42,816 Total Assets less Current Liabilities 23,797 42,816 Funds General fund lunrestrictedl 23,797 42,816 Total Funds 23,797 42,816 Burren Vision Company limited by guarantee ACCOUNTING POLICIES For the year ended 31 March 2023 Basis of preparation The financial statements have been prepared under the historical cost convention and in accordance with the Companies Act 2006 and Part 8 of the Charities Act {Northern Irelandl 2008. They also comply with the Statement of Recommended Practice lupdated 20151 and with the financial reporting standards. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements. Cash Flow Statement The company has availed of the exemption in FRS 102 from the requirement to produce a cash flow statement becasue it Is classified as a small company. Incomlng Resources Voluntary income or capital is included in the Statement of Financial Activities when the company is legally entitled to it, its financial value can be quantifled with reasonable certainty and there is reasonable certainty of its ultimate receipt. Entitlement to legacies is considered established when the company 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. Grant5 for activities are recognised as income when the related conditions for legal entitlements have been met. All other income is accounted for on an accrua15 ba51S. Resources Expended All resources expended are accounted for on an accruals basis. Charitable activities include costs of seNices and grants, support costs and depreciation on related assets. Cost of generating funds similarly include fundraising activitie5. Non-staff costs not attributed to one category of activity are allocated or apportioned pro rata to the staffing of the relevant service. Finance, HR, IT and administrative staff c05t5 are directly attributable to individual activitie5 by objective. Governance costs are those associated with constitutional statutory requirements. Tangible fixed a55ets and depreclatlon Tangible fixed a55ets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows: Land and property- 4% Straight Line Taxation The charity's activities fall withom the exemptions afforded by the provisions of the income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts. Burren Vision Company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023 I ANALYSIS OF RESOURCES EXPENDED Charitable Activities Governance Costs Total 2023 Total 2022 Other Costs Telephone/ internet Bank Fees Rates Heat, light & power Legal & professional costs Youth c5ub shop Youth club expenses Repairs Loan interest Rent Paid Total 912 668 264 14,464 4,520 4.505 1.363 4,579 5,142 912 885 644 668 264 14,464 4,520 4,505 1,363 4,579 5,142 529 10,225 2,126 3,702 4,786 36,417 36,417 22,897 2 ANALYSIS OF RESOURCES EXPENDED AND RELATED INCOME FOR CHARITABLE ACTIVITIES Charitable Activities Governance Costs Total 2023 Total 2022 Charitable activities Direct and other costs Costs 36,417 36,417 22,897 Leasehold Land & Buildings 3 TANGIBLE FIXED ASSETS Total Cost Additions at 31 March 2023 1,986,012 1,986,012 1,986,012 1,986,012 Amortlsatlon Blfwd Charge At 31 March 2023 218,310 79,440 297,750 218.310 79,440 297,750 Net book value At 31 March 2023 1,688,262 1,767,702 1,688,262 1,767,702 At 31 March 2022 io Burren Vision Company limited by guarantee NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2023 CREDITORS AND ACCRUALS 2023 2022 Accruals and deferred income Other creditors Loan BB Loan UCIT Loan 999,169 567,975 9,492 36,419 67,556 1.046,662 554,983 9,492 46,014 72,956 1,680,611 1,730,107 ANALYSIS OF NET ASSEfs BY FUND Fixed Assets Current Assets Current Liabilities Total Unrestrirted income Restricted funds 999,169 681,442 999,169 1,022,966 Unrestricted funds 1,688,262 16,147 1,688,262 16,147 1,680,611 23,797 ANALYSIS OF MOVEMENT ON FUNDS Balance 1/4122 Incoming resources Resources expended Balance 31/3123 Restrirted Funds Unrestricted income 991 48,354 991 67,373 42,816 23,797 42,816 49,345 68,364 23,797 STATUS The company is limited by guarantee not having a Share capital. The liability of the members is limited. Every member of the company undertakes to contribute the assets of the company in the event of its being wound up while they are members, or within one year thereafter, for the payment of the debts and liabilities of the company contracted before the ceased to be member5, and the costs charges and expenses of winding up, and for the adjustment of the rights of the contributions among themselves, such amount as may be required not exceeding £1. POST BALANCE SHEEET EVENTS li BURREN VISION IA company limited by guarantee, not having share capital) SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12 Burren Vision Company limited by guarantee SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Operating statement For the year ended 31 March 2023 2023 2022 Income Grants received Misc income Donations received 991 48,354 1,487 39,811 49,345 41,298 Gross surplus/deficit 49,345 41,298 Expenses Bank Fees 668 644 Legal & professional costs Telephone/ internet Rates 4,520 912 264 885 529 Heat. light & power Youth club shop Youth club expenses Repairs Loan interest Depreciation Amortisation of government grants 14,464 4,505 1,363 4,579 5,142 79,440 47,493 68,364 10,225 2,126 3,702 4.786 79,440 47,493 54,844 Surplus of income over expenditure 19,019 13,546 13