Company registration number: N1613923 Charity registration number.. 102172 Bawn Development Association 165 Eglish Road Dunganon BT70 ILD (A company limited by guarantee) Allnual Report and Financial Statsments for the Year Ended 31 August 2023 Thomas Oliver and Associates Limited Certified Public Accountant l Moygashel Mills Park Dunga]]non Co Tyrone BT717DH
Bawn DevelopmeDt Association Contents Reference and Athninistrative Details Thistees, Report 2to3 tndependent Examinevs Report 4t05 Ststement of Financial Activities Balance Sheet Statement of Cash Flows Notes to the Financial Statetnents 9t015
Bawn Development Association Reference and Administrative Details Chairman Mr KeDneth Mccammon Secretary Mr5 ADnie Marshall Cbarity Registration Number 102172 Company Registration Number N1613923 The charity is incorporated in Northern Ireland. 81 Derginagh Road Dungannon Co Tyrone BT70 ITW Registered Office Independent Examiner Thomas Oliver and Associates Limited Certified Public Accountant l Moygashel Mills Park Dungannon Co Tyrone BT717DH Page I
Bawn Development Association Trustees, Report The tsustees. 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 August 2023. Objectives and aetivities Public beneflÉ The association meet on a monthly basis to rnix socially, plan events, rdi5e fimds to provide support and facilities to ease social isolation. Guest speaker5 provide inforn]ation on health and well being to benefit the community. During the year the hall is rented to other organt5ations whicb promote events including carol seTvices, Christmas parties and quiz nights. This year a party was held Burns Night. The trustee5 confirn) that they have complied with the requirements of section 4 of the Charities Act (Northern Ireland) 2008 to have due regard to the public benefit guidance published by the Charity Commission for Northern treland. Trnstees and oificers The trustees and officers serving during the year and since the year end were as follows: Trustees: Mrs A[le Marshall Mrs Carol Cardwell Mr Esdale Lockbart Mr Trevor Lockbart Mr Kenneth Mccammon Mr Leslie McCammoD Mr KeDlleth Mcca[[lon Secretary: Mrs Annie Marshall Structure* governance and management Financial instrumeDts Credit rivk The charity's principal fllwlcial assets are bank balances . Llquidity rivk In order to maintain liquidity to ensure that Sufficient funds are available for ongoing operations and future developments, the charity uses a mixture of long-tenn and short-terni debt finance. Further details regarding liquidity risk can be found in the Statement of accounting policies in the financial statements. Page 2
Bawn Development Association Trustees, Report Statement of trustees, responsibilities The trustees (who are also the directors of Development Association for the purposes of company law) are responsible for preparing the trnStee5' report and the financial statements in accordance with applicable law and Unifrd 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 fAnanCI statements for each financial year. Under company law the trjstees must not approve the financial statements unless they are satisfied that they give a trne and faii view of the state of affairs of the charitable company and of the incoming resources and application of resources. including its income and expend1tLe. of the charitable company for that period. tn preparing these financial statements, tbe trustees are required to: select suitsble accounting policies and apply them consistently. observe the method5 and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent" state whether applicable accounting standar(Ls, 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 busines5. The tSleeS are responsible for keeping proper accountiDg record5 that can disclose with reasonable accuracy at aIiy time tbe financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act £006. They are also responsible for safeguarding the assets of the ¢haritable company and hence for taking reasonable steps for the prevention and detectRon of fraud and other iryegularities. The tSte¢S are responsible for the maintenance and integrity of the corporate and fll]ancial information included on the charitable companys website. Legislation governing the prepardtion and dissemination of financial ststemeThts may differ from legislation in other jurisdictions. The annual report was approved by the trustses of the charity on 22 May 2024 and signed on its behalf by: Mr Leslie M¢ Trustee Page 3
Bawn Development Association Independent Examiner's Report to the trustees of BawD Development Association ('the Company,) I report to the charity trustees on my examination of the accounts of the Cotnpany for the year ended 31 August 2023. Respective r¢spoDsibilities of trustees and examiner As the charity'5 trustees of Bawn Development Association (and also its directors for tbe purposes of company law) you are Tesponsible for the prepardtion of the accounts in accordance with the Tequirements of the Charities Act (Northern treland) 2008. Having satisfied myself that the accounts of Bawn Development Association are not required to be audited under section 65 of Charities Act (Northern) Ireland 2008 and that an independent examination is needed. It 15 my responsibility to:_ - examine the accounts under section 65 of the Charities Act - to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65 (9)(b) of the Charities Act - to state whetheT particular matters have come to my attention Basi5 of IndepeDdeDt Examiners, Report I have examined your chaTity accounts as required under section 65 of the ChaTtties Act and my examination was cTled out in accordance with the general Directions giv¢n by the Charity Commission for Northern Ireland nder section 65(9)(b) of the Charities Act. An examination included a review of the accounting records kept by the charÉty and a comparison of the accounts presented with those records. It also included consideration of any unusual items or dksclosures in the accounts, and seeking expalnations from the trusfres concerning any such matters.. I confun] that no matter5 have come to my attention in connection with the examination giving cause to believe: l. That accounting records were not kept in respect of Bawn Development Association as requir¢d by section 63 of the Charities Act; or 2. That the accounts do not accord with those records. or 3. That the accounts do not comply with the accounting requirements of the Charities Act. 4. That there is further infomiation needed for a proper understanding of the accounts tobe reached. Page 4
Bawn Developmellt Association Independent Examiner's Report to the trustees of Baivn Development Association ('the Company,) Independent Examiner'5 StstemeDt I have completed my examination and have no concerns in respect of the matter (l) to (4) listed above and In connections with the following directions of the Charity Con)Jnission for Northern Irel8niL I have found no matters that require drawing to your attention Thomas Oliver and A.ssuciates Limited Certified Public Accountant l Moygashel Mills Park Dungannon Co T)ryone BT717DH 22 May 2024 Page 5
Bawn Development Association Statement of Financial Activities for the Year Ended 31 August 2023 Oncluding Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted fullds Total 2023 Note Income and Endowments from: Donations and legacies Other trading activities 2,375 1,206 10.000 12,375 1,206 Total income 3,581 10,000 13,581 Expenditure on: Raising fimds Other expenditure Total expenditure (1,063) (3,292) (1,063) (3,292) (4,355) (4,355) Net (expenditLJreyincom¢ (774) 10,000 9,226 Net movement in funds (774) 10,000 9,226 Reeonciliation of funds Total fimds brought fonvard Total fimds carried forward 41,407 41,407 12 40,633 Unrestricted nds 10,000 Restrieted fund5 50.633 Totsl 2022 Nots Income and Endowments from: Donations and legacies Other trading activities Total income 12,840 1,360 2.723 15,563 1,360 14,200 2,723 16,923 Expenditure on.. Raising fimds Other expenditure (138) (2,232) (138) (4,955) 2,723) Total expenditure (2,370) (2,723) (5,093) Net incon]e 11,830 11.830 Net movement in fimds 11,830 11,830 Reconciliation of funds Total funds brought forward 29,577 29.577 Total funds carried forward 12 41,407 41,407 All of the charity's activities derive frotn continuing operations during the above two periods. The funds breakdown for 2022 is shown in note 12. The notes on pages 9 to 15 forn] an integrnl part of these financial statements. Page 6
Bawn Development Association (Registration number: N1613923) Balance Sheet as at 31 Allgust 2023 2023 2022 Note Fixed assets Tangible assets 39,293 38,990 Current assets Debtors Cash at bank and in hand 742 10,928 691 2,056 io 11,670 2,747 Creditors: Amounts falling due within one year Net Current assets (330) (330) 11.340 2,417 Net assets 50,633 41.407 Funds of the cbarity.. Restricted income fullds Restricted fidS 10,000 Unrestricted income fund5 Unrestricted funds 40,633 41,407 Total funds 12 50,633 41,407 For tbe fmancial year ending 31 August 2023 the charity was entitled to exemption from audit under sertion 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the charity to obtsin an audit of its accounts for the year in question in accordance with section 476. and The directors acknowledge their Tesponsibilities for con]plying with the requirements of the Act with respect to accounting record5 and the preparation of accounts. The fmancial ststements on pages 6 to 15 were approved by the trustees, and authorised for issue on 22 May 2024 and signed on tbeir behalf by: Mr Trevor Lockhart Trustee Mr Leslie Mc Trustee on The notes on pages 9 to 15 forn] an integral part of these financial stafrments. Page 7
Bawn Development Association Statement of Cash Flows for the Year Ended 31 August 2023 2023 2022 Note Cash llows from operating activities Net c&sh income 9,226 11,830 Working capital adjustments Increase in debtors Decre&se in creditors (51) (294) (270 Net cash flows from operating activities Cash flows from investing activities Purchase of tangible fixed &ssets 9,175 11,266 (303) Cash flows from financing activities Repayment of loans and borrowings Net increase in cash and cash equivalents Cash and c&8b equivalents at I September Cash and wh equivalents at 31 August (10,310) 8,872 956 2,056 I,ioo 10,928 2,056 All of the cash flows are derived from continuing operations during the above two periods. The notes on pages 9 to 15 forni an integral part of these financial statements. Page 8
Bawn DevelopzDent Association Notes to the Financial Statemellts for the Year Ended 31 August 2023 I Charity ststus The charity is limited by guarantee, incorporated in Northern Irelan( and conseqllelltty does not have share capital. Each of the trnstee5 15 liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of its registered office is: 8 l Derginagh Road Dungannon Co T)Tone BT70 ITW These financial statements were authorised for issue by the trustee5 on 22 May 2024. 2 Accounting polities Summary of significant accoullting policies and key accounting estimates The principal accounting policie5 applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presente(L unless otherwise state(L 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 with the Financial Reporting Standard applicable in the UK and Republic of Irelalld (FRS 102)) (i55ued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable the UK and Republic of Jreland (FRS 102) and the Companics Act 2006. Basis of preparation Bawn Development As50¢iation meets the defjnition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otberwise ststed in the relevant accounting poEicy notes. Going concern The trustses consider that there are no material uncertainties 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 the charity. Income and endowments All income is recogDÈsed once the charity b&$ entitlement to the income, it is prob3ble that the income will be received and the amount of tbe incon]e receivable can be measured reliably. Donadons and legacie Donations are recognised when the charity has been notified in WTiting of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perforniallce by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fijlly meL or the fulfi]ment of those conditions is wholly within tbe control of the charity and it 15 probable that these conditions will bc fulfllled in the reporting period. Page 9
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2023 Grants Teteivable Grants are recognised when the charity has an entitlement to the fidS and any conditions linked to the grants have been met. Where perforn]ance conditions are attached to the grant and are yet to b¢ met, the income is Tecognised as a liability and included on the balance sheet as defend income to be released. 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 osts allocated on the basis of tlme spenL and depreciation chatges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raisingfvnds These are costs incurred in attracting voluntary income, the management of investments and those incurred in trading activities that rnise fi]nds. Support costs Support costs include central functions and have been allocated to activity cost categories on a basis consistent with tbe use of resources, for example, allocating propety costs by floor areas. or per capit4 staff costs by the time spent and other costs by their usage. Taxation The charity is considered to pass tbe tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it llkeets the defmition of a charitable company for tTK corporntion tax purpose5. Accordingly, the charity is potentially exempt from taxation in respect of income or capitsl 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 tbat such income or gains are applied exclusively to charitable purposes. Tangible red assets Individual fixed assets costing £100.00 or more are initially recorded at cost. Cash and cash equivalents Casb and cash equivalents comprise cash on hand and call deposits, and other short-term highIy liquid investments that are readily convertible to a known amount of cash and Subject to an insignificant risk of chang¢ in value. Trade creditors Trade creditors are obligations to pay for good5 or Services that have been acquired in the ordinary COUTse of business from suppliers. Accounts payable are classified as current liabilities if the charity does not have a unconditional right, at the end of the reporting period. to defer settlement of the Creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least iwelve months after the reporting date, they are presented &s non-curreTht liabilities. Trade creditors are recognised initially at the transaction price and subsequently rnea5ured at amortised cost using the effective interest method. Page 10
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 Augllst 2023 Borrowings Interest-bearing borrowings are initialty recorded at fair value, net of trdnsaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over tbe period of the relevant borrowing. Interest expense i5 recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current Iiabilities unless tbe chatity has an UllCODditional nght to defer settlement of the liability for at least twelve months after the reporting dats. Fund structure UDTestricted income funds are general funds that are available for e at the trustees discretion in furtherdnce of the objectives of the charity. Restricted income fund5 are those donated for use in a particular area or for specific puryoses, the use of which is restricted to that area or purpose. FinaDcial instruments c1$1[aCatIOn Financial assets and financial liabilities are recognised when the charity b¢comes a party to the contrdctual provisions of the instnunent. Financial liabilities and equity in5tnllnents are classified according to the substance of the contrdctual arrangements entered into. An equity instrument is any contract that evidences a resithial interest in the assets of the clwity after d¢ductillg all of its liabilities. Recognidon and meoyuremenl All fmancial assets and liabilitie5 are initially me&sured at transaction price (including transaction costs). except for those financial &ssets classified as at fair value througb profit or loss, which are initially measured at fair value (which is norn]ally the transaction price excluding transaction costs), unle55 the amngement conStiteS a financing transaction. If an arrdngement constitlltes a financing trallsacti0 the fmancial &8set or financial liability is measured at the present value of the future payments discounted at a market rats of interest for a similar debt instrument. Financial &8sets and ]iabilitie5 are only offset in the statement of fllwicial position when, and only when there exists a legally enforceable rigbt to set off the recogThi5ed amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognised when and only when a) the contractual rights to the c&sh flows from the fmancial asset expire or are settle4 b) the charity transfer5 to another paty substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite havillg retained Some. but not all, significant risks and rewards of oThDership, bas trdnsferred control of the asset to another paty. Financial liabilities are derecognised only when the obligation specified in th¢ contract is discharge¢ cancelled or expires. Pagell
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2023 3 Income from donations and legacies Unrestricted funds General Restricted funds Total funds Grants, including capitsl grants" Grants from other cEwities 2,375 10,000 12,375 Total for 2023 2,375 io,000 12,375 Total for 2022 12,840 2,723 15,563 4 Income from other tradRng activities Unrestrictsd funds General Total funds Propety rental income 1,206 1,206 Total for 2023 1,206 1,206 Totsi for 2022 1,360 1,360 S Trustees remuneration aDd expen5&S No tNstees, nor any persons connectsd with them, have received any remuneration from the charity during the year. No truste¢s have received any reimbursed expenses or any other benefits frotu the charity during th¢ year. 6 1udependeDt examiner's remuneration 2023 2022 Examination of the financial statements 330 330 Pag¢ 12
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2023 7 Taxation The chaTity 15 a registered charity and is therefore exempt from taxation. 8 Tangffible fixed assets Land and buildings Furniture and equipment Total Cost At I September 2022 Additions 38.202 788 303 38,990 303 At 31 August 2023 38,202 1,091 39,293 Depreciation At 31 August 2023 Net book value At 31 August 2023 38.202 1.091 39,293 At 31 August 2022 38,202 788 38,990 9 Debtors 2023 2022 Prepayments 742 691 10 Cash and &8sh equivalents 2023 2022 Cash at bank 10,928 2,056 I I Creditors: amounts falling due within one year 2023 2022 Accruals 330 330 Page 13
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2023 12 Funds Balance 2t I September 2022 Incoming resources Resources expended Balance at 31 August 2023 Unrestricted funds General 41,407 3,581 (4,355) 40.633 Restricted funds 10,000 10,000 Total funds 41,407 13,581 (4,355 50,633 Balallce at I September 2021 Incoming resources Resources expended Balance at 31 August 2022 Unrestrieted funds General 29,577 14,200 (2.370) 41,407 Restricted fiinds 2,723 (2,723) Totsi funds 29,577 16,923 (5,093 41.407 13 Analysis of net assets between funds Unrestricted runds General Total funds at 31 August 2023 Tangible fixed assets Current assets Current liabilities 39,293 11,670 (330) 50,633 39,293 11,670 (330) 50,633 Total net assets Unro8tricted funds General Total funds at 31 August 2022 Tangible fixed assets Current &8sets Cuent liabilities 38,990 2,747 (330) 38,990 2,747 (330) 41,407 Total net assets 41.407 Page 14
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2023 14 Analysis of net funds Atl September 2022 At 31 August 2023 C&sh at bank and in hand 2,056 2,056 Net debt 2.056 2.056 Atl September 2021 Financing cash At 31 August flows 2022 Cash at bank and in Iland I,ioo 956 2,056 Net debt I,ioo 956 2.056 Page 15