Company registration t)umber.' N1613923 Charity registration nurnber.. 102172 Bawn Development Association 165 E.lish Road Dunuanon BT70 1 LD (A company limited by guarantee) Amiual Report and Financial Statements for the Year End¢d 31 August 2024 Thomas Oliver and Associates Limited Certified Public Accountant I MoycFashel Mills Park Dungannon Co Tyrone BT717DH
Bawn Development Association Contents Reference and Administrative Details Trustees, Report 2to3 Independent Examiner's Report 4t05 Statement of Financial Activities Balance Sheet Notes to the Ftnancial Statements 8t0 14
Bawn Development Association Reference and Administrative Details Chairma Mr Kenneth McCaTnmon Secretary Mrs Annie Marshall Charity Registration Number 102172 Company Registration Number N1613923 The charity is incorporated in Northern Ireland. 81 Derginagh Road Dungannon Co Tyrone BT70 ITW Registered Office ndependent Examiner Thomas Oliver and Associates Limited Certified Publi¢ Accountant l Moygashel Mills Park Dungannon Co Tyrone BT717DH
Bawn Development Association Trustees, Report The trustees, who are diTectors for the purposes of company law, present the annual report togeth¢r with the financial statements of the charitable cornpany for the year ended 31 August 2024. Objeetives and activities Public benefit The association meet on a monthly basis to mix socially. plan events, raise ndS to provide support and facilities to ease social isolation. Guest speakers provide infomiation on health and well being to benefit the community. During the year the hall is rented to other organisations which promote events including carol services, The trustees confimi 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 Ireland. Trustee5 2nd officers The trustees and officers serving during the year and since the year end Nvere as follows.. Trustees.. Mrs Annie Marshall Mrs Carol Cardwell Mr Esdale Lockhart Mr Trevor Lockhart Mr Kenneth Mccammon MT Leslie Mccammon Chairnian.. Mr Kenneth M¢Cammon Secretary: Mrs Annie Marshall Structure* governanee and management Financial instruments Credit risk The charity's principal financial assets are bank balances Liquidity rlsk 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-terni and short-tenTt 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 Bawn Development Association for the purposes of company law) are responsible for preparing the trustees, report and the fTnancial stateTnents in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). including FRS 102 "The Financial Reportincr 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 incomints resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the tNstees 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 b¢en 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 propeT 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 infornlation included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictTons. The annual report was approved by the trustees of the charity on 2 June 2025 and signed on its behalf by.. MrLe Trustee lie Mccammon Page 3
Bawn Development Association Independent Examiner's Report to the trustees of Bawn Development Association ('the Company,) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024. Respeetive responsibilities of trustees and examiner As the charity's trustees of Bawn Development Association (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 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 is my responsibility to:_ examine the accounts under section 65 of the Charities Act to follow the procedures laid doivn in the general Directions (riven by the ChaTity Commission for Northern Ireland nder section 65 (9)(b) of the Charities Act - to state whether particular rnatteTS have come to my attention Basis of Independent Examiners, Report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commi55ion for Northern Ireland und¢r section 65(9)(b) of the Charities Act. An examination included a revieiv of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts. and seeking expalnation5 from the trustees concerning any such matters.. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe.. l. That accounting records were not kept in respect of Bawl Development Association as required by section 6i 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 Tnforniation needed for a proper understanding of the accounts tobe reached. Page 4
Bawn Development Association Independent Examiner's Report to the trustees of Bawn Development Association ('the Company,) Independent Examiner's Statement I have completed my exaTnination and have no concerns in respect of the matter (l) to (4) listed above and in connections with the following directions of the Charity Commission for Northern Ireland. I have found no matters that require drawing to your attention Thomas Oliver and Associates Limited Certified Public Accountant l Moygashel Mills Park Dungannon Co Tyrone BT717DH 2 June 2025 Page 5
Bawn Development Association Statement of Financial Activities for the Year Ended 31 August 2024 (Including Income and Expenditure Account and Statement of Total Reeognised Gains and Losses) Unrestricted funds Restricted funds Total 2024 Note Income and Endowments from: Donations and legacies Total income 965 965 965 965 Expenditure on". Other expenditure (2,345) (6.735} (9,080) Total expenditure Net expenditure (2,)45) (6,735) (9,080) (1,380) (6,735) (8,115) Net movement in funds (1,380) (6,735) (8,115) Reconeiliation of funds Total funds brought forward Total funds carried fonvard 40,632 10,000 50.632 12 39,252 Unrestricted fund5 3,265 Restricted funds 42,517 Total 2023 Note Income and Endowments from: Donations and legacies Other trading activities Total income 2,375 1,206 10.000 12,375 1,206 3,581 10.000 13.581 Expenditure on: Raising funds Other expenditure Total expenditure Net (expendTture)lincome Net movement in fund5 (1.063) (3,292) (1,063) (3,292) (4,355) (4,J55) (774) 10,000 9,226 (774) 10,000 9,226 Reconciliation of funds Total funds brought forward Total funds Caled forward 41,407 41,407 12 40,633 10,000 50,633 All of the charity's activities derive from continuing operations during the above two periods. The fvnds breakdown for 2023 is shown in note 12. The notes on pages 8 to 14 forni an integral part of these financial statements. Page 6
Bawn Development Association (Registration number: N1613923) Balance Sheet as at 31 August 2024 2024 2023 Note Fixed assets Tangible assets 39,293 39,293 Current assets Debtors Cash at bank and ill hand 741 3,233 742 10,928 10 3,974 11,670 Creditors: Amounts falling due within one year Net current assets (750) i.224 Net assets 42,517 Funds ofthe charity: Restrieted ineome funds Restricted ndS 3,265 i 0,000 Unrestricted income funds Unrestrict¢d funds 39,252 40,633 Total funds 12 42,517 For the financial year ending i l August 2024 the chaTity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, spOnSIbl1]tles'. The members have not required the char5ty 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 14 were approved by the trustees, and authorised for issue on 2 June 2025 and signed on their behalf by.. Mr Trevor Lockhart Trustee Mr Leslie Mccammon Trustee The notes on pages 8 to 14 fonn an integral part of these financial statements. Page 7
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2024 Charity status The charity is limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £ I towards the assets of the charity in the event of liquidation. The address of its registered office is.. 81 Deroinagh Road Dungannon Co Tyrone BT70 ITW These financial statements were authorised for issue by the trustees on 2 June 2025. 2 Accounting policies Summary of significant accounting policies and key aecounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, 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 charitie5 preparing their accounts in accordance with rhe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in OctobeT 2019) - (Charities SORP (FRS 102}}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Bawn Development Association meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenvise stated in the relevant accounting policy notes. Going concern The trustees 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 caTrying value of assets held by the charity. Exemption 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 flnancial statements. Income and endowments All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably. Page 8
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2024 Grants receivable Grants are recoonised when the charity has an entitlement to the funds and any conditions linked to the grants have been rnet. Where perforn]ance Conditions are attached to the grant and are yet to be met, the income is r¢¢ognised as a liability and included on the balance sheei as deferred incorne 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 cate¥OOry. WThere costs cannot be directly attributed to particular headings they have been allocated on a basis con51Stent with the use of resource5, Wlth central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff costs. Raislngfunds These are costs incurred in attracting voluntary income, the management of investments and those incued in trading activities that raise nds. Support costs Support costs include central functions and have been allocated to actlvlty cost categories on a basis consistent with the use of resources, for exatnple. allocating property costs by floor areas. or per capita, staff costs by the time spent and other costs by their usage. Taxation Th¢ charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 201 O and therefore it Tneets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity IS Potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part I I of the Corporation Tax Act 201 O or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such incoTne or gains are applied exclusively to charitable purposes. Tangible fjxed assets Individual flxed assets costing £ 100.00 or more are initially recorded at cost. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits. and other short-terni highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Page 9
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2024 Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabiliti¢s if the charity does not have an 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 settlernent for at least twelve months after the reporting date, they are presented as non-current liabilities. Trade creditors aTe recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Borrowings Interest-bearing bOoW]ngS are initially recorded at fair value, net of transaction 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 the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the charity has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date. Fund structure Unrestricted income funds are general fimds that are available for use at the trnstees discretion in furtherance of the objectives of th¢ charity. Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Financial instruments Classification Financial assets and financial liabilities are recognised when the chartty becomes a party to the contractual provisions of the instnjment. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities. Page 10
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2024 Recognilion and measuremenl All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is nornially the transaction price excluding transaction costs), unless the arran(rement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised 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 cash flows from the financial asset expire or are settled, b) the charity transfers to another paty substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party. Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. 3 Income from donations and legacies Unrestricted funds General Restricted funds Total funds Grants, including capital grants. Grants from other charities 965 965 Total for 2024 965 965 Total for 2023 2,375 10,000 4 Income from other trading activities Unrestricted funds General Total funds Total for 2024 Total for 2023 1,206 1,206 S Trustees remuneration and expenses No rntees. nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. Page 11
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2024 6 Independent examiner's remun¢ration 2024 2023 Examination of the financial statements 420 330 7 Taxation The charity is a registered charity and is therefore exempt from taxation. 8 Tangible fixed assets Land and building5 Furniture and equipment Total Cost At I September 2023 At 31 August 2024 Depreciation 1,091 39,293 38,202 1,091 39,29i At 31 August 2024 Net book value At 31 August 2024 38,202 1.091 At 31 August 2023 38,202 1,091 9 Debtors 2024 2023 Prepayments 741 742 10 Cash and cash equivalents 2024 2023 Cash at bank 3.233 10,928 Page 12
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2024 I Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals 390 360 330 750 330 12 Funds Balance at I September 2023 Incoming resources Resources expended Balance at31 August 2024 Unrestricted funds General 40,632 965 (2,345) (6,7J5) 39,252 Restricted funds i 0,000 i,265 Total funds 50,632 965 (9,080) 42,517 Balance at 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 i 0,000 i 0,000 Total funds 41,407 13,581 (4.355) 50,633 Page 13
Bawn Development Association Notes to the Financial Statements for the Year Ended 31 August 2024 13 Analysis of net assets between funds Unrestricted funds General Total funds at 31 Augusl 2024 Tangible fixed assets Cuent assets Cuent liabilities 39.293 3,974 (750) 42,517 39.293 3,974 (750) Total net assets 42,517 Unrestricted funds General Total funds at 31 August 2023 Tangible fixed assets Cuent assets Current liabilities i9,29i 11,670 (330) 39,293 11,670 Total net assets 50,633 50,633 14 Analysis of net funds Atl September 2023 Financing cash At 31 August llows 2024 Cash at bank and in hand 10.928 {7,695) (7,695) 3,233 Net debt 10,928 Atl September 2022 3.233 Financing cash At 31 August flow5 2023 Cash at bank and in hand 2,056 8,872 10,928 Net debt 2,056 8,872 10,928 Page 14