EDENVILLA LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 APRIL 2024
The trustees present their annual report and financial statements for the year ended 30 April 2024.
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
The trustees are satisfied with the results for the year, taking into account the lack of available slots for hiring the pitch out during school hours and most evenings and weekends. During the year there was further repairs to the changing rooms, due to flood damage which occurred in December 2022. The cost of these repairs was reimbursed from insurance proceeds. Costs from repairs to aging equipment, such as the generator and the floodlights, have also substantially increased, as have ongoing utility costs.
The charitable company was in negotiation about the financial support from the Service Level Agreement with Armagh City, Banbridge and Craigavon Council (ABC Council). The Council contributes £10,000 per year towards running costs but this no longer covers the costs of annual maintenance of the facility. Education Authority NI and Craigavon Senior High School do not contribute any financial support to the upkeep of the facilities. A case for a significant increase will be made again to ABC Council next year.
Alan Smith held the position of groundskeeper during the year and provided an excellent service.
A part time community engagement worker, Pamela Smith, continued to promote Edenvilla in the district and surrounding area, with new clients including Ridgeway Mill Youth and Fun Football Factory hiring the facility on a weekly basis.
Edenvilla Ltd also became a cashless enterprise with the purchase of a Sum Up card reader to support the existing use of online bank transfers.
Financial review
The charitable company's financial results are set out in detail on pages 6 to 16.
There is an overall deficit on funds this year of £8,835 (2023 - £5,674 surplus). The trustees are continuing to investigate making savings and trying to generate additional income.
The accumulated funds (unrestricted and restricted) now stand at £64,750. 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.
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EDENVILLA LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 APRIL 2024
The trustees who served during the year and up to the date of signature of the financial statements were: Mr M A J Thompson Ms R M Harkness Ms K Leitch Mr G Titler Ms B E Wright Mr D J Gregg (Resigned 20 June 2023) Mr G J Edgar (Resigned 2 May 2023) Mrs K L Caldwell Mrs K G Castles Mr L McIlwrath (Appointed 20 June 2023)
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:
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One representative from Education Authority, Southern Region (EA);
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Two nominated members of Portadown Men's Hockey Club; and
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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 are two part time employees, a caretaker/groundsman and a community engagement worker. There is also a small number of volunteers who are responsible for administration and bookings.
Reserves policy
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 have examined the charitable company's requirements for reserves in relation to general maintenance and replacement of the synthetic playing surface in approximately 2 years, the previous surface having been replaced in 2010.
The trustees had considered that the ideal level of cash held at bank by this time should be £80,000 as Edenvilla's contribution to pitch replacement. They now believe that the charitable company reserves will not reach this level within the next two years, based on current income streams. The ambitions of the hockey club teams to play at a higher level also mean a higher standard of pitch replacement would be required, thereby likely doubling the funding required. Trustees are reaching out to partners in EANI and ABC Council for support and sourcing additional grant funding for the pitch replacement.
At the balance sheet date, unrestricted reserves amounted to £61,110 of which £38,669 is held at bank and cash in hand.
Plans for the future
The main priority is to continue managing the facility in an efficient manner for the benefit of the local community.
The trustees have begun work on a 10 year development plan which includes a section on reducing costs and improving our environmental performance, through more efficient use of floodlighting, as well as exploring facility improvements which could generate some of the additional income required for the future pitch refurbishment e.g. a small training pitch; a community meeting space and coffee dock. Funding for these improvements, as well as any upgrades in machinery will rely on either increased revenue support or grant funding.
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EDENVILLA LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 30APRIL 2024 In preparing this report, the trustees have taken advantage of the small companies exemptions promded by section 415A of the Companies Act 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. Mr M A J Thompson Trustee Dated". 25 September 2024