COMPANY REGISTRATION NUMBER: NIO51130 CHARifi REGISTRATION NUMBER: N1102036 DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Unaudited Financial Statements 31 December 2023 JOSE H CROZIER & C Accountants & Tax Consultants Shiloh Aughadarra Dromore Co Tyrone BT78 3DL
DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 December 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 December 2023. Reference and administrative details Retired Registered charity name DERRYVULLEN NORTH LIMITED Charity registration number Company registration number N1051130 Principal office and registered "JALNA" office DRUMBANE KESH CO FERMANAGH BT93 1SQ N1102036 The trustees MR E H MOORE VERY REV.CANON R THOMPSON MR E FERGUSON MR D A ROBINSON MR R J ALLEN MR R D J COALTER MRS I J GIBSON The directors who served the charity during the period were as follows: Mr E H Moore Very Reverend Canon R Thompson (Retired 23 March 2023) Mr E Ferguson Mr D A Robinson Mr R J Allen Mr R D J Coalter Mrs l J Gibson Rev. Canon Paul Thompson (Appointed 23 March 2023) Company secretary MR E H MOORE Independent examiner Joseph Crozier & Co. Shiloh Aughadarra Dromore Co Tyrone BT78 3DL
DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 December 2023 Structure, governance and management The charity is a company limited by guarantee. Every member of the Company undertakes to contribute to the assets of the Company, in the event of the Company being wound up while he is a member, or within a year after he ceases to be a member, for payment of the debts and liabilities of the Company contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding one pound. Objectives and activities This charity exists for the benefit of the parishioners of Derryvullen North Church of Ireland, Irvinestown The charity trustees confirm that due regard has been paid to the public benefit guidance published by the Charity Commission. Achievements and performance Public Benefit The direct benefits which flow from the purposes of Derryvullen North Ltd include provision of a range of religious, social, educational and recreational activities mainly based within the parish of Derryvullen North whsch is situated in the town of Iprfinestown, providing them with the opportunity to avail of activities which assist and improve understanding and knowledge of the Christian religion, educational attainment, health, sociali interaction and their conditions of life through accessing services and activities that would not normally be available to them. This can be measured and evidenced through increased social integration and pastoral care delivered at the point of need. The beneficiaries are mainly the parishioners of Derryvullen Parish Church and members of the public also receive benefit through the advancement of social interaction. No trustee receives remuneration, reward or other private benefit for carrying out their trustee responsibility. There is no harm flowing from the purposes of Derryvullen North Ltd. What Organisation Does Supports the funding of Derryvullen North Parish Church and helps to fund social events for the parishioners especially senior citizens and youth organisations. To develop growing communities of faith and promote unity in the service of God. Purpose of Orginisation The objects of the Company is to promote any charitable purpose for the benefit of the Church of Ireland parishioners of Derryvullen North (the area of benefit) and in particular the advancement of social awareness from a Christian perspective, and to improve the quality of life of those inhabitants of the area of benefit. Financial revlew Investments powers and policy, Reserves policy and going concern. At the end of the accounting period, the charity holds cash at the bank of £5951. There is no policy as such for the holding of resenies The only reserves at the end of the accounting period was the current account balance of £5951.
DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 December 2023 Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 10 April 2024 and signed on behalf of the board of trustees by: MR E H MOORE Director MREHMOOR Charity Secreta
DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Independent Examiner's Report to the Trustees Year ended 31 December 2023 I report to the trustees on my examination of the financial statements of DERRYklULLEN NORTH LIMITED ('the charity,) for the year ended 31 December 2023. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the '2008 Act,) and the Companies Act 2006 ('the 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company 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 the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102. 1 have no concerns and have come across 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 Joseph Crozier & Co. Independent Examiner Shiloh Aughadarra Dromore Co Tyrone BT78 3DL 12 April 2024
DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 December 2023 2023 Unrestricted funds Total funds Total funds 2022 Note Income and endowments Investment income 15,062 15,062 15,062 15,062 18,566 18,566 Totsl income Expenditure Expenditure on charitable activities Total expenditure 13,083 13,083 13,083 18,961 18,961 13,083 Net incomel(expenditure> and net movement in funds 1,979 1,979 (395) Reconciliation of funds Total funds brought forward Total funds carried forward 3,197 5,176 3,197 5,176 3,592 3,197 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 12 form part of these financial, ststements.
DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Statement of Financial Position 31 December 2023 2023 2022 Note Current assets Cash at bank and in hand 5,951 3,972 Creditors: amounts falling due within one year Net current assets 11 775 775 5,176 5,176 5,176 3,197 Total assets less current liabilities 3,197 3,197 N.et assets Funds of the charity Unrestricted funds 5,176 5,176 3,197 Total charity funds 12 3,197 For the year ending 31 December 2023 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 company to obtain an audit of its financial statements for the year in question in accordance with section 476; The d5rectors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 10 April 2024, and are signed on behalf of the board by: MR E H MOORE Director The notes on pages 8 to 12 form part of these financial statements.
DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Statement of Cash Flows Year ended 31 December 2023 2023 2022 Cash flows from operating activities Net incomel(expenditure) Adjustments for." Dividends, interest and rents from investments Other interest receivable and similar income Cash generated from operations Interest received Net cash used in operating activities 1,979 (395) (14,9631 (99) (13,083) (18,546) (20) (18,961) 99 20 (12,984) (18,941) Cash flows from investing activities Dividends, interest and rents from investments Net cash from investing activities 14,963 14,963 18,546 18,546 Net increasel(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year 1,979 3,972 5,951 (395) 4,367 3,972 The notes on pages 8 to 12 fonn part of these financial statements.
DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Notes to the Financial Statements Year ended 31 December 2023 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is"JALNA" DRUMBANE, KESH, CO FERMANAGH, BT93 1SQ Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporttng Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The judgements (apart from those involving estimations) that management has made in the process of applying the entity's accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: That the charity will continue to operate as a Going Concern Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure 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.
DERRYVULLEN NORTH LlfvIlTkD Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2023 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following speciftc policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable 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 fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of sepdices is recognised with the delivery of the contracted service. 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 expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the COSLS of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods, expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to rais5ng funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributabte to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic finaiicial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2023 Accounting policies (contlnued) Financial instruments (contlnued) Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying.amount of the financial asset that exceeds what the carying amount would have been had the impairment not previously been recognised. Limited by guarantee Every member of Company undertakes to contribute to the assets of the Compaiiy, in the event of the Company being wound up while he is a member, or within a year after he ceases to be a member, for payment of the debts and liabilities of the Company contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding one pound. Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Income from investment properties Bank interest receivable 14,963 99 14,963 99 18,546 20 18,546 20 15,062 15,062 18.566 18,566 10-
DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 December 2023 Expenditure on charitable activities by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Support costs 13,083 13,083 18,961 18,961 Expenditure on charitable activities by activity type Total funds 2023 Total fund 2022 Support costs Governance costs 8,083 8,083 3,961 Independent examination fees 2023 2022 Fees payable to the independent examiner for: Independent examination of the financial statements 775 775 Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees 10. Transfers between funds Monthly transfers to Derryvullen Church of Ireland No.1 Account have been taking place since February 2008.During this year an amount of £5000 was transferred. 11. Creditors: amounts falling due withln one year 2023 2022 Accruals and deferred income 775 775 11
DERRYVULLEN NORTH LIMITED Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 December 2023 12. Analysis of charitsble funds Unrestricted funds At 1 January 202 At 31 December 2023 Income Expenditure General funds 3,197 15,062 (13,083) 5,176 At 1 January 202 At 31 December 2022 Income Expenditure General funds 3,592 18,566 (18,961) 3,197 13. Analysis of net assets between funds Unrestricted Total Funds Funds 2023 Current assets 5,951 5,951 Unrestricted Total Funds Funds 2022 Current assets 3,197 3,197 14. Analysis of changes in net debt At At 1 Jan 2023 Cash flows 31 Dec 2023 Cash at bank and in hand 3,972 1,979 5,951 12-