The River Bann and Lough Neagh Association Company Trustees, Report The trustees, who are directors for the purposes of company law, present the annual report together with the financial staleinents <ind auditors, report of tlie charitable company for the year ended 31 Oclober 20?2. Objectives and activities Objects and al$ The Company is established to proinole tl)e River Bann and Lough Neagh (hereinafter referred lo as the 'area of benefit,) for the benefit ol. the inhabilaiits of Northern Irelaiid (hereinafter referred to as 'lhe beneficiaries,) without distinction of age gender disability. sexual orienlalion, nalionality, ethnic idet)lity, policilical or relegjious opinion. by associating the statutory auihorities, cominunity and voluntary organisations and tl)e inhabilanls in acoinmon efyort to advance education, and to provide facilities iii the interests of social w'elfare for re¢r¢aiion or otlier leisure-tiine occupation, with Ihe object of iinproving the conditions ot. lite for the said inhabitants and in particular.. a) lo provide or assist in the provision uf facilities in the interLsis of social welfare for appropriate recreaiion and leisure lime occupation commensurate with the activities described above.. b) lo advance piiblic educalioi) in eiiviroillental and heritagje matters in the area of benefil and the ways of sustaining, conserving,prot¢cling and in)proving Il)e saine. For over 40 years ihe River Bann and Lough Neagh association has been involved in proinoting Ihe River and th elough and ei)suring this iinportant waierway is used properly without being spoilt. The a5so¢ialion can trace its roots back io 1962 and caine into existence 01¢1allY in 1964 because of the threat of. closure of Ihe River Bann navigalion beiweeii TooinebridgFe ai)d Coleraine. Its aims and objectives are to preserve and proinole tlie ainenilies of the Bann and Loug,h Neagh, Iheir tributaries and associated waterways. The fact that navigJalion is still possible belween Toomcbridge and Coleraiiie is due to (he efforts of Inany people, but withoui ihe work ot. the RBLNA il is quite likely tlial navigalioii would h<tve ceased lo exist years ago. We have held Inany aNiual boat rallies over the year5. Tlie Association has produced a pilot book, a sjuide book and helped with the production of a safely guide of Lough Neagh. RBLNA also or&yanises boat rallies, enviromenial cleanups, canal walks, talks on a wide variet of tOPlC5, Visits to places of interesl to rneinbers and hosls visits to the System. In 2005 the RBLNA fornied a coinpany and sib?ned a )0 year lease froin Lord O Neill for Rains Island. In 2007 the coinpany was recognised as a Charity by H M Revenue and Cusloins. Ai Ilie Inoment and in tlie past we have had no paid staff and all work administrative and hands on is done by volunteers. Rains Island Heritage Project volunteers have fundraised in excess ot" £300.000.00 for Capital Projects on the island such as building a new etty. providing an interpretive centre and providin8 a ferry boat. The physical Ivork for these indiviaual ventures was ui)dertaken by voliiiiteers. The project has a small teain of coininitled individuals. The project focuses on enviroinenlal restoration of the island, enhancing liabilant for wildlife and creating safe and free public access to the island. Page 3
The River Bann and Lough Neagh Association Company Trustees, Report Public benefil Since 2005 groups of volunteers from the River Bann and Lough Neagh Association Company have been working on Raiiis Island to make il accessible and attractive to the general public. The developinenl on paths, walkways, a floating Visiiors, Centre, wild cainping area, poultry aiid duck enclosures, an excellent .jetty and a feny service are the results of our endeavours. Nearly every weekend,volunteerts are working to Inaintain, repair and extend these facilities furtlier. With minimal publication and steadily increasing we now welcome around 8,000 visitors of all ages, abililiesldisabiliiies. creeds (or none) annually. soine come on the Ferry, many under their own steam.Soiiie come for the novelty of Iravelling to an island, others to explore ils sizeable area and perhaps l)ave aguided lour and learn soinething of its hwnan and natural history. Refreshments ar¢ available to all and except for a nominal charge to cover ferry costs eveNhing id free, although a donation box is available ¢0 anyone who wish¢s to aid the prohject financially. No one benefits financially or recives any 'perks' for their labours apart from the satisfaction of seeing a voluntary job well done. The River Bann and Lough Neagh Association Coinpany regularly organises volunteer litter lifts around the shores and invasive species removal these ben¢fil the wildlife and visitors. The proj¢cl is unique in Northern Ireland and the direclors and volunteers are enlhusiaslic in their comtnitmieni lo Inaintain and d¢v¢lop it further. Meinbers of the public who care to avail Iheinselves of a visit to Ram's Island will not be dissappoinled - at least thai is what thousands of previous visiiors have said! Should ihey go for a ferry ride. a walk around Ihe island. a guided lour encompassing its hisiory, talks on ecogical balance and conversation or just a Cup of tea and a chal in lis well foound Visitors Centre (barge) they will find it a refreshing and invigoraiinby experience. as a get-away-froin-il-all destinatioii il is uniqiie. As a world for children(of all ages) lo explore il is filled wilh myslery. As a social venue it is unsurpassed. As a place for refleclion il is limitless. the Direclors believe that a vist to Rams island is agreat tonic everyone is wl¢ome and it's freel A vist lo Rams Island Inay lasl a few houres or a few days. It may be done individually or a part of a group. 11 may be a fixed prograinine or laissez-faire ab?¢nda. It Inay be part of a celebration or for a tiit]e of quiet reflection. Whatever your reason to visit. Rain5 Island will jot dissppoint. Thousands of visitors over the past len years will testify to thisl The trustees confirm Ihal tliey have coinplied with the requirements ol. the Charities Act {Northern Ireland) 2008 to have due regard to ihe public benefil guidance published by tlie Charity Cominission for Nortliern Ireland. Trustees and o(fieers The trustees and officers serving during the year and since the year end were as follows.. Trustees.. Mr Andrew Nelson Mr Michael Savage (Date of Death 13 January 2022) Mr Robert Biiigham (resigned 31 March 2022) Mr Kevin Arthur Le Quesne Mr Michael Robert Stevenson Mr Robert Mc Corn]ac (appointed 26 January 2023) Chairnlan: Mr Robert Mc Corniac (appointed 26 January 2023) Secretary: Mr Kevin Arthur Le Quesne Page 4
The River Bann and Lough Neagh Association Company Trustees, Report Structure, governance and management Financial instruments Objeclives andpolicle.s The charity's activities expose it to a number of financial risks including credit risk, cash flow risk and liquidity risk. Th¢ use of fiiiancial derivatives is governed by ihe charity's polici¢s approved by the board of truslees, which provide written priiiciples on the use of financial derivatives to Inanage these risks. The charity does not use derivative financial instruments for speculative purposes. Casliflow rl.sk The charity's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and inleresl rates. The charily uses foreign exchange fonvard contracts and inleresl rate swap contracts to hedge these exposures. Interest bearing assets and liabilities ar¢ held al fixed rale to ensure certainty of cash flows. Credil risk The charity's principal financial assets are bank balances and cash, trade and oth¢r receivables, and investmenls. The charity's credit risk is priijiarily atlribulabl¢ io tis Irade receivables. The ainounis presented in the balance sheet are net of allom'ances for doubtful receivables. An allowance for iinpairnieni is made where there is an identified loss event which, b<ised on previous experience, is evidence of a reduction in the recoverability of the cash flows. The credil risk on liquid fuiids and derivative financial instruments is limited because Ihe counlerparties are banks witli high credil-ratings assigned by iiilemalional credit-raling abjencies. The charity has no significant concentration of credil risk, wilh exposure spread over a large number of counterparties and custoiners. Llquldity risk In order to maintain liquidity to ensure thal sufficient funds are available for ongoing operations and future developmenis. the charity uses a mixture of long-lenn and short-tenii dcbl finance. Further details regarding liquidity risk can be found in the Sialement of accounling policies in the financial stalements. Statement of trustees, responsibilities The truslees {who are also the directors of The Riv¢r Bann and Lough Neagh Association Coinpany for the purposes of company law) are responsible for preparing the trnstees, report and the financial stateinents in accordance with applicable law and United Kingdom Accounting SlandaTd5 (United Kingdom Generally Accepted Accounling 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 compan), law the trustees must not approve the financial statements unle$5 they are satisfied thai 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 ils income and expenditlire, of the charitable company for that period. In preparing these financial statements, the Irustees are required to.. select suitable accouniing policies and apply them consistently; observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent. Page 5
The River Bann and Lougb Neagh Association Company Trustees, Report state whether applicable accounting stai)dards, coinprising FR8 102 have been followed. subject lo any material departures dis¢losed and explained in the financial slalements- and prepare the finaT)cial statements on the going concern basis Utiless il is inappropriaie to presume that the charitable company will continue in business. The trnstees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the chariiable company and enable Ihem to ensure thtil the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable coinpany and hence for laking reasonable steps for the prevention and detection of fraud and oiher irregularities. The trustees are responsible for the niaintenance and integrily of the corporate and financial infonnalion included on the charitable company's website. Legiislation governii)g the preparatioii and disseminalion or financial slaiemenls Inay differ tron) legislation in other jurisdictions. Disclosure of information to auditor Each truslee has thken steps that ihey ought to have taken as a trustee in order to make themselves aware of any relevant audit inforniaiii)i) and lo establish tliai the charity's auditor is aware of that infonnation. The trustees ¢onfinn that tliere is no relevant infonnation thai they know of and of which tliey know the auditor is unaware, The annual report was approved by the truslees of the charity on 5 May 2023 and signed on its behalf by.. Mr Kevin Arthur Le Quesne Company secretary and Iruslee Mr Robert Mc Comac Chairman and trustee Page 6