## **EDENVILLA LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 APRIL 2023** The trustees present their annual report and financial statements for the year ended 30 April 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitable company's Memorandum and Articles of Association, the Companies Act 2006 and "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 Ireland (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** The objectives of the charitable company are set out in the Memorandum and Articles of Association of Edenvilla Limited. The main purpose is to maintain and develop property and facilities for recreation and to promote the benefit of the inhabitants of Portadown and its environs. The trustees have paid due regard to guidance issued by the Charity Commission for Northern Ireland in deciding what activities the charitable company should undertake. ## **Achievements and performance** Charitable activities income has increased since last year. The trustees are satisfied with the results for the year, taking into account the competition from pitches in the Craigavon area. Additional expenditure was incurred after flood damage to the changing rooms. The cost of repairs was reimbursed from insurance proceeds. The charitable company has been advised that the Service Level Agreement with Armagh City, Banbridge and Craigavon Council (ABC Council) has been approved and will remain for the foreseeable future. The Council contribute £10,000 per year towards running costs. In March 2022 the charitable company employed an independent consultancy company, to undertake the work of sourcing additional finance for capital and programme activity at the site, through investigation of and completing application forms for grant funding from a range of bodies in Northern Ireland and further afield. Working with a dedicated member of the consultancy team, the trustees had drawn up a work plan for the year. This contract was terminated in October 2022, due to disappointing results. Derek Taylor resigned from position of groundskeeper during year, after 13 years of excellent service. He has been replaced by Alan Smith, who is continuing the trend of outstanding service. A part-time community engagement worker, Pamela Smith, has been employed during the year, to promote Edenvilla in the district and surrounding. This has been funded by a £4,500 grant from Halifax. ## **Financial review** The charitable company's financial results are set out in detail on pages 6 to 16. There is an overall surplus on funds this year of £5,674 (2022 - £4,338). The trustees are continuing to investigate making savings and trying to generate additional income. The accumulated funds (unrestricted and restricted) now stand at £73,585. In view of the steep rising cost of diesel and electricity, the trustees have decided to increase the charges for floodlights, but keep the pitch hire rates the same. ## **Structure, governance and management** The charitable company is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 29 May 1998 and as updated on 14 November 2001. - 1 - ## **EDENVILLA LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** ## **FOR THE YEAR ENDED 30 APRIL 2023** The trustees who served during the year and up to the date of signature of the financial statements were: Mr M A J Thompson Mr S E Barr (Resigned 28 June 2022) Ms R M Harkness Ms K Leitch Mr G Titler Ms B E Wright Mr D J Gregg Mr G J Edgar (Resigned 2 May 2023) Mrs K L Caldwell Mrs K G Castles The trustees of the charitable company are also directors for the purposes of company law. Under the requirement of the Memorandum and Articles of Association, all the members of the Board of Directors retire at the Annual General Meeting. The number of directors should be between six and thirteen. Directors are normally nominated on the following basis: - One representative from Education Authority, Southern Region (EA); - Two nominated members of Portadown Men's Hockey Club; and - Two nominated members of Portadown Ladies Hockey Club. None of the directors have any beneficial interest in the charitable company. In the event of the charitable company being wound up, members are required to contribute an amount not exceeding £1. ## **Organisation** The trustees administer the charitable company and oversee the day to day running of the complex. The Board meets approximately 5/6 times per year. There is one part time employed caretaker/groundsman and a small number of volunteers who are responsible for administration and bookings. ## **Reserves policy** The trustees have examined the charitable company's requirements for reserves in relation to general maintenance and replacement of the synthetic playing surface in approximately 4-6 years. They believe that the charitable company should build up reserves where possible during the next 6 years because it cannot rely on additional grants. The level of reserves is reviewed annually and is built up to the desired level in stages consistent with the charitable company's overall financial position and its need to maintain its charitable activities. The trustees consider that the ideal level of cash held at bank should be £50,000 at the end of April 2023 building up to £80,000 in 4-6 years. At the balance sheet date, unrestricted reserves amounted to £65,237 of which £34,044 is held at bank. ## **Plans for the future** The main priority is to continue managing the facility in an efficient manner for the benefit of the local community. - 2 - EDENVILLA LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30APRIL 2023 In preparing this report, the trustees have taken advantage of the small companies exemptions provided by section 415A of the CompaniesAct 2006. Registered Office.. Edenvilla Park Bachelors Walk Portadown Craigavon Co Armagh BT63 5BQ Company Registration No.. N1038596 Charity Registration No.. NIC 102431 The trustees, report was approved by the Board of Trustees. J Thompson Trustee Dated..