Derry & Raphoe Aetion Limited Trustees, report and financial statements for the period from l November 2023 to 31 December 2024 Registration number: N1048102 Northern Ireland Charity number: NIC102476 McFarland Arnold & Co Chartered Accountants
Derry & Raphoe Action Limited (Company limited by guarantee) Contents for the period from l November 2023 to 31 December 2024 Page Legal and administrative information Trustees report Ac¢ountants' report to the trustees Statement of financial activities Balance sheet Notes to th¢ financial statements 8-16
Derry & Raphoe Action Limited (Company limited by guarantee) Legal and administrative information for the period from l November 2023 to 31 Deeember 2024 Legal status The coinpany is a private limited company, limited by guarantee, which was incorporated on 3 October 2003 under Ihe Companies (Northern Ireland) Ordei. 1986 and the Companies Act 2006, undei. Registration Number N1048102. It is also recogntsed as a charity by HM Revenue and Customs under Reference Number XR83440. The company is a registered charity with the Charity Commission for Northern Ireland since 8 June 2015 under registration number NIC102476. Trustees Kate Allison David Bradley Richai'd Campbell David Clarke Trevor Donnell David Dunbar Colin Hamilton Robert Hill David Mitchell (appointed 7 November 2023) Ruth Monteith Company number N1048102 CCNI Charity number NIC102476 Registered office The Somme Memorial Hall 3 Douglas Road Newtownstewart Co Tyi'one BT78 4NE Accountants McFarland Arnold & Co 8 Main Street Newlownstewart Co Tyrone Business address The Soinme Memorial Hall 3 Douglas Road Newtownstewart Co Tyi'one BT78 4NE Bankers Danske Bank Business Braiich Donegall Square West Belfast Page I
Derry & Raphoe Action Limited (Company limited by guarantee) Trustees, report for the period from l November 2023 to 31 December 2024 The trustees presenl their repoi't and the financial slat¢ments for the year ended 31 December 2024. Directors Officers of the company, known as directors for the purpose of company law and ti'ustees for the purpose of charity law, who served during the year and up to the dat¢ of this report are set out on page l of the financial statements. Members of the charitable company guaraiitee to contribute an amount not exceeding £1 lo the assets of the charitable company in the event of winding up. Charitable objects Derry & Raphoe Action Limited was set up under the supervision of the Church of Ireland, and in particular the Derry & Raphoe Diocese. The object of the Company is to pi'omote the regeneration of tlie area, in particular ensuring that the marginalised cominunities within the counties of Londonderry, Tyi'one and Donegal play their full role in the ovei'all regeneration and in cross bord¢r activities, through promotion and developmenl of social and cultural identity, advancement of education and provision of recreational and other activities in intei'ests of social w¢lfar¢. Derry & Raphoe Action Limited is a regisler¢d charity with the Charity Commission for Northern Ireland since 8 June 2015, under registration number NICI 02476. Organisational structure The trustees meet regularly, administer the company and make all policy decisions. A d¢velopinent officer is employed to co-ordinate activities and manage the day-to-day running of the company. Review of activities and achievements The results i'eflect the activities carried on within the charitable company during the year. The trustees are pleased with the level of community development activities cari'ied on during that yeai. and the grant funding achieved. During tlie period froin l November 2023 to 31 December 2024 the charitable company s¢cured funding froin the Ulster Scots Ag¢ncy towards the community iinpact plan. In addition the charitable company also secui'ed funding fi'om Derry City aiid Strabane District Council, Honourable li'ish Society, Arts Council Nl, DAERA, Halifax Foundation Irish Government and Childi'en in Need to provide cultural d¢velopment, educational workshops and for various community f¢stivals. Going concern The Trustees are confident that further funding will be secured from the Ulster Scots Agency to continue with the community impact plan and are therefore satisfied tl)at it is appropriate for the financial statements to be prepared on the going concern basis. Reserves The results for ihe period are set out oil page 5 of the financial statements. The purpose of the funds al'e outlined in the notes to the financial statements. Page 2
Derry & Raphoe Action Limited (Company limited by guarantee) Trustees, report for the perlod from l November 2023 to 31 December 2024 Statement of trustees, responsibilities The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and regulations. Company law and charity law requires the Trust¢¢s to pi'epare financial statements for each financial period. Undei. that law the trustees have elected to prepare Ihe financial statements in accordance with applicable law and Ihe United Kingdom Accounling Standards (United Kingdom Generally Accepted Accounting Practice) including 'Accounting and R¢porting by Charities: Statement of Recommended Practice, (FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,). Under company law the Trusl¢es must not appi'ove the financial statements unless they are satisfied that they give a Irue and fair view of the state of affairs of th¢ Company and of the profit or loss of the company for that period. In pr¢paring these financial statements, the trustees are requii'ed to.. sel¢ct suitable accounting policies and then apply them consistently. make judg¢ments and estimat¢s that are reasonable and prudent; state whether applicable accounting standards and statements of recommended practice have been followed subject to any 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 charity will continue in business. The Trustees are responsibl¢ for keeping adequate accounting records thal ar¢ sufficient to show and explaiT] the company's transaclions and disclose with i'easonable accuracy at any time th¢ financial position of the company and enable them to ensure that th¢ financial statements comply with the Coinpanies Act 2006. They are also responsible for safeguarding the assets of the coinpany and hence for taking I'easonable steps for the prevention and detectton of fraud and other tegUlar1tI¢$. Accountants The trustees recommend that McFarland Amold & Co remain in office until further notice. Special provisions relating to small companies This report has been pr¢pai'ed in accordance with the Statem¢nt of Recomm¢nded Practic¢.' Accounting and Reporting by Charities (FRS 102) and in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. This report was approved by the trustees on k4c zg and signed on its behalf by SigDsture: Nan)e {in block capitals): ?l¥rfiO D Truslee Page 3
Derry & Raphoe Aetion Limited (Company limited by guarantee) Accountants, report on the unaudited financial statements to the trustees of Derry & Raphoe Actlon Limited for the period from l November 2023 to 31 December 2024 In order to assist you to fulfil your duties under the Companies Acl 2006, w¢ have compiled the financial statemeiits of Derry & Raphoe Action Limited for the pei'iod fi'om l Noveinber 2023 to 31 December 2024 as set out on pages 5 to 15, which compi'is¢ the statement of financial activities, the balance sheet and the related notes from the accounting recoi'ds and information and explanations you have given to us. This I'eport Is made to the company's board of trustees, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we maight compile the financial statements that we have been engaged to compile, report to the company's board of trustees that we have done so, and state those matters that we have agreed to state to them in this report and for no other person. To lh¢ fullest extent peiTritt¢d by law, we do nol accept or assume responsibility to anyone other tlian the compai)y and the company's board of directors, as a body, for our work or for this report. Respective responsibilities of the trustees and accountants As described in the statement of trustees, responsibilities the company's trustees (who also act as directors for the charitable activities of Derry & Rapho¢ Action Limited) are responsible for ensuring that the company maintains proper books of account and for preparing financial statements which give a true and fair view and have b¢¢n properly prepared in accordance with the Companies Act 2006. You are responsible for deciding, on an annual basis. whetlier the company is entitled to avail of the exemption from statutory audit in accordance with Section 477 of the Companies Act 2006. It is our responsibility to compile Ihe financial statemenls of Derry & Raphoe Action Limited from the accounting resords, inforniation and explanations supplied lo us by the company. Basis of opinion Our work was conducted in accordance with the Siatement of Standards for Reporting Accountants, and so our procedures Consisted of comparing the financial stateinents with the accounting records kept by the coinpany, and making such limited enquiries of the officers of the company a5 we considered necessary for the purposes of this report. These procedures provide only the assurance expressed in our opinion. Scope of work We have compiled the financial statements in accordance with the ICAI Miscellaneous Technical Statement 'Chartered Accountants Reports on the Compilation of Financial Statements of Incorporated Entities M41 from the accounting records, information and explanations supplied to us by the company. We have not been inslructed to carry out an audit of these financial statements. For this reason, we have not verified the accuracy oi. completeness of the accounting records or infoiinalion and explanations you have given to us and we do not, therefore, express any opinion on tlie fiiiancial statements. Chartered Accountants Dated.. McFarland Arnold & Co Chartered Accountants 8 Main Street Neivtoivnstewart Co Tyrone Page 4
Derry & Raphoe Action Limited (Company limited by guarantee) Statement of financial activities (including Ineome and Expenditure account) for the period from l November 2023 to 31 December 2024 Unr¢5tricted Restricted funds funds 2024 Total 2023 Total Incoming resources Donations Grants Investment income Other income 1,145 1,145 122,450 319 2,358 4,045 106,188 28 122,450 319 2,358 Total incoming resources 3,822 122,450 126,272 110,261 Resources expended Staff costs Staff training Advertising Rent and l'ates Insurance Light and heat Somme memorial hall repairs Printing, postage and stationery Telephone Computer costs Somme memorial hall equipment Travelling Community festivals and workshops Consultancy fees Accounlancy fees General expenses Cleaning Depreciation and amortisation Interest and charges 39,603 39,603 30,689 307 400 6,434 447 2,738 7,259 ,325 784 1,360 1,200 7,467 479 2,223 6,432 1,260 1,167 188 4,037 1,052 52,511 4,085 2,346 153 390 8,524 122 1,200 7,467 479 2,223 6,432 1.260 1,167 188 4,037 1,052 52,511 4.085 2,346 153 390 8,524 122 800 34,835 2,148 205 1,470 8,283 92 Total resources expended Net incoming resources before transfers (133,239) (133,239) (99,576) (6,967) 10,685 (129,417) 122,450 Transfers between funds 133,304 (133,304) Net movement in funds 3,887 (10,854) (6,967) 10,685 Tolal funds bi'ought forward Total funds carried forward 12,144 83,624 95,768 85,083 16,031 72.770 88,801 95,768 The notes on pages 8 to 16 lorm an integral part of these financial statements Page 5
Derry & Raphoe Action Limited (Company limited by guarantee) Balance sheet as at 31 December 2024 31 December 2024 31 October 2023 Notes Fixed assets Tangible assets 41,397 49,921 Current assets Debtors Cash at bank and in hand 7,176 42,635 4,293 43,477 49,811 47,770 Creditors; amounts falling due within one year (2,407) (1,923) Net current assets 47,404 45,847 Net assets 88,801 95,768 Funds UnresÉricted funds Restricted funds io 16,031 72,770 12,144 83,624 88,801 95,768 The company is I'egistered as a private limited coinpany in Northern Ireland under Registration Number N1048102. The Iruste¢s' statements required by Section 475 (2) and (3) are shown on the following page which fornis part of this Balance Sheet. The notes on pages 8 to 16 form an integral part of these financial statements Page 6
Derry & Raphoe Action Limited (Company limited by guarantee) Balance sheet (continued) Trustees, statements required by Section 475 (2) and (3) for the period from l November 2023 to 31 Deeember 2024 In approving these financial statements as trustees of the charitable company we hereby ¢onfinn: (a) Ihal for the period stated above the charilable company was entitled to the exemption conferred by Section 477 of the Companies Act 2006 (b) that no notic¢ has been deposited at the regist¢r¢d office of the charitable company pursuant to Section 476 of the Companies Act 2006 requesting that an audit be conducted foi. the period ended 31 December 2024 and (c) that we acknowledge our responsibilities for.. (l ) ensuring that the charitable company keeps accounting records which comply with Section 386 of the Companies Act 2006, and (2) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial period and of its suiylus or deficit for ihe period then ended in accordance with the requirements of Section 393 of th¢ Companies Act 2006 and which othenvise comply with Ihc provtsions of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. These financial statements are prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,) and in accordance with ihe special provisions of Part 15 of the Companies Act 2006 applicable to companies subject to the small conipanies regime. The financial statem¢nts were approved by the Boai'd on XLtr- vg and signed on its behalf by Signature.. Signature: Name (in block capitals): D4Ao Ooa(4A Name (in block capitals).. i-&*h I Trustee Trustee The notes on pages 8 10 16 form an integral part of Ihese financial statements Page 7
Derry & Raphoe Action Limited (Company limited by guarantee) Notes to the financial statements for the period from l November 2023 to 31 December 2024 General information The company is a private limited company, limited by guarantee, wl)ich was incoi'porated on 3 October 2003 under the Companies (Northein Ireland) Order 1986 and the Companies Act 2006, under Registration Number N1048102. It is also recognis¢d as a charity by the HM Revenu¢ & Custoins under Reference Number XR83440. The company is a registered charity with the Charity Commission for Northei'n Ireland since 8 June 2015 under registration number NIC102476. The addirss of the registered office is The Somme Memorial Hall, 3 Dougla5 Road, Newtownst¢wart, Co Tyrone, B T78 4NE. Statement of Compliance These financial statements have been prepared in compliance with Accounting and Reporting by Charities.. Statement of Recommended Practice (FRS 102, 'The Financial Reporting Standard applicable in lh¢ UK and the Republic of Ireland,) and in accoi'dance with the Companies Act 2006. Accounting policies Basis of preparation Th¢ financial statements are prepared under the historical cost convention and in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,) The charity ha5 taken advantage of the exemption in FRS 102 S¢ction IA from the requiremenl to produce a cashflow statement because it is a small charity. The presentation currency of these financial statements is sterling. 3.2. Incoming resources Income from donations and gi'ants, including capital grants, is included in inconiing resources when these al'e receivable, except as follows: When donors specify that donations and grants given to Ihe company must be used in fvtur¢ accounting periods, the income is defeiTed until those periods. When donors impose conditions which have to be fulfilled before the company becomes entitled to use such income, the income is deferred and not included in incoining resoui'ces until the pre-conditions for use have been met. When donors specify that donalions and gi'ants, including capital grants, are for a particular I'estricted puiyoses, which do not aniount to pre-conditions regai-ding eiititlement, this income is included in incoming resoui'ces of restricted funds when I'eceiveable. The value of services provided by volunteers has not been included. 3.3. Interest receivable Interest is included on a receivable basis. Page 8
Derry & Raphoe Action Limited (Company limited by guarantee) Notes to the financial statements for the period from l November 2023 to 31 December 2024 3.4. Resources expended Expenditure is i'ecognised on an accruals basis as a liability is incurred. Expenditure includes VAT which ihe company is ineligible to i-ecovei., and is reported as pait of the expenditui'e to which it relates. Charitable expenditure comprises those costs incuri'ed by the charity in ihe delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 3.5. Tangible fixed assets and depreciation Tangible fixed assets costing more than £500 ai'¢ capitalised and included at their purchase costs, together with any iii¢idental expenses of acquisition. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expect¢d useful life, as follows: Hall Fixtures, fitling5 and equipinent - 80/0 Straight line 15 1 reducing balancc No depreciation is charged until the assets are brought into use by the company. The carrying values of tangible fixed assets are reviewed annually for impairnient if events or changes in circumstances indicate ihe carrying value may not be recoverabl¢. 3.6. Leasing Rentals payable under operating leases are charged against income on a straight line basis ov¢r the lease terni. 3.7. Fund accounting Unrestricted funds relate to general ndS which ar¢ available foi. use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated foi. oih¢r purposes. Restricted funds are funds which are to be used in accordance with specific I'¢strictions imposed by donors or which have been raised by the charity for particulai. pui'poses. The cost of raising and administering such funds ar¢ charged against th¢ specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 3.8. Taxation The company is registered as a charity for tax purposes under reference XR83440. As a charity, Derry and Raphoe Action Limit¢d is exempt from tax on incoine and gains falling within Section 505 of the Taxes Act 1988 01. Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to ils charitable objects. No tax charges have therefore arisen for the company for the year ended 3 December 2024. Page 9
Derry & Raphoe Action Limited (Company limited by guarantee) Notes to the financial statements for the period from l November 2023 to 31 December 2024 Impairxnent A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated whei'e such indicators exist. Where the carrying value exceeds the recovei'able amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal al each reporting date. When it is not possible to estimate the recoverable amount of an individual a55et, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets thot includes the asset and generates cash inflows that are largely independent of the cash inflows fi'om other assets or gi'oups of a55el5. 3.10 Financial instruments A financial asset or a financial liabilily is recognised only when the company become5 a party to the contractual provisions of the insti'ument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constilules a financing transaction, where it is recognised at ihe present value of the future payments discount¢d at a market l'ate of interest foi. a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impainnent at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in pi'ofit or loss immedialely. For all equity instruments regardless of significance, aiid other financial assets Ihat are individually significant, these are assessed individually for impairment. Other financial assets or eithei. assessed individually or grouped on the basis of similar credit risk charactei'istics. Any reversals of impairment al'e recognised in profit oi. loss immediately, to the extent that the I'eversal does not resLtIt in a canying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not pr¢viously been recognised. Page 10
Derry & Raphoe Action Limited (Company limited by guarantee) Notes to the financial statements for the period from l November 2023 to 31 December 2024 Incoming resources Unrestricted Restricted fund5 funds Period 111112023 to 3111212024 Year ended 3111012023 Donations Grants Investment income Oth¢r income 1,145 1,145 122,450 319 2,358 4,045 106,188 28 122,450 319 2,358 3,822 122,450 126,272 110,261 4. 1 Gi'ant income received is as follows:. Unrestricted Reslricted funds funds Period 111112023 ÉO 3111212024 Year ended 3111012023 Irish Government - Department of Foreign Affairs Halifax Fermanagh and Omagh District Council DAERA NI SSE Airti'icity Community Fund Arts Council Nl Ulster Scots Agency Derry City and Strabane District Council Rapid Rural Area Partnei. W¢stern Health & Social Care Trust Honourable Irish Society Children in Need 2,880 4,415 2,880 4,415 5,250 270 979 3,840 7.582 69,179 17,948 140 1,000 1.993 1,993 5,161 76,187 25,914 5,161 76,187 25,914 900 5,000 900 5,000 122,450 122,450 106,188 Pagell
Derry & Raphoe Action Limited (Company limited by guarantee) Notes to the financial statements for the period from l November 2023 to 31 December 2024 Net movement in funds Period Year 111112023 to ended 3111212024 3111012023 Net movement in funds is stated after charging.. Depreciation and other amounts written off tangible assets Opei'ating lease I'entals Land and buildings 8,524 8,283 7,000 6,000 and after crediting: Transfer between fijnds: Release of revenue grants 133,304 93,213 Employees Number of employees Period 111112023 3111212024 Number Year ended 3111012023 Number The average monthly numbers of employees (including ihe trustee5) during the pei'iod wer¢: Trustees Employees 10 10 Employment costs Period 111112023 3111212024 Year ended 3111012023 Wages and salaries 39,603 30,689 The trustees neither received nor waiv¢d any emoluments during the year. Page 12
Derry & Raphoe Action Limited (Company limited by guarantee) Notes to the financial statements for the period from l November 2023 to 31 December 2024 Fixtures, rittings and equipment Tangible fixed assets Hall Total Cost At l November 2023 42,897 38.404 81,301 At 31 December 2024 42,897 38,404 81,301 Depreciation At l Nov¢mber 2023 Charge for the period 14,640 4,004 16,740 4,520 31,380 8,524 At 31 December 2024 18,644 21,260 39,904 Net book values At 31 December 2024 24,253 17,144 41,397 At l November 2023 28,257 21,664 49,921 Debtors Period Year 111112023 to ended 3111212024 3111012023 Grants receivable 7,176 4,293 Creditors: amounts falling due within one year Period 111112023 3111212024 Year ended 3111012023 Accruals and deferred income 2,407 1,923 Page 13
Derry & Raphoe Action Limited (Company limited by guarantee) Notes to the financial statements for the period from l November 2023 to 31 December 2024 10. Unrestricted funds l November 2023 Incoming Outgoing Transfers 31 December 2024 General fund 12,144 3,822 (133,239) 133.304 16,031 12,144 3,822 (133,239) 133,304 16,031 Purposes of unrestricted funds General funds are funds which are available for use at the disci'etion of the Irustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 11. Restricted funds l November 2023 Incoming Transfers 31 December 2024 Somme Memorial Hall kitchen extension and ramp Fixtures, fittings and equipinenf SSE Airti'iciiy Community Fund Ulster Scots Agency Derry City and Strabane District Council Honourable Irish Society Arts Council Nl DAERA Halifax Ii'ish Government Children in Need 26,893 22,408 8,222 20,454 2,500 (3,809) (4,588) (2,682) 76,187 (89,042) 25,914 (24,964) 900 {900) 5,161 (3,569) 1,993 (1,993) 4,415 (350) 2,880 (246) 5,000 (1.161) 23,084 17,820 5,540 7,599 3,450 3,147 4,739 4,065 2,634 3,839 83,624 122,450 (133,304) 72,770 Purposes of restricted funds Restricted funds al'e funds which are to be used in accordance with specific resti'iction5 imposed by donors or which have been I'aised by the company for pai'licular purposes. The c05t of i'aising and administering such funds are charged against the specific fund. Page 14
Derry & Raphoe Action Limited (Company limited by guarantee) Notes to the financial statements for the period from l November 2023 to 31 Deeember 2024 12. Analysis of net assets belween funds Unrestricted funds Restricted funds Total funds Fund balances at 31 December 2024 as represented by: Tangible fixed assets Current assets Liabilities 493 17,945 {2,407) 40,904 31,866 41,397 49,811 (2,407) 16,031 72,770 88,801 13. Leasing commitments At 31 D¢cember 2024 Ihe company had annual commitments under non-canc¢llable operating l¢ases as follows: Land and buildings 31112124 31110123 Expiry date: 31 December 2031 Within one year Between one and five years In over five years 6,000 24,000 13,000 6,000 24,000 19,000 43,000 49,000 14. Going concern The Trustees are confident that further funding will be secured from the Ulster Scots Agency to continue with the coinmunity impact plan and are iherefore satisfied that it is appropriat¢ for the financial statements to be prepared on the going concern basis. 15. Transactions with Trustees The trustees attend meetings and carry out the business of the company on a voluntary basis. 16. Company limited by guarantee Deiry & Raphoe Action Limited is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to conlribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, oi. within one yeai. after he or she ceases to be a membei-. Page 15
Derry & Raphoe Action Limited (Company li]nited by guarantee) Notes to the financial statements for the period from l November 2023 to 31 December 2024 17. Charity Commission for Northern Ireland Dei'ry & Raphoe Action Limited 15 8 registered chai'ity with the Charity Commission for Northern Ireland since 8 June 2015, under registration number NIC102476. Page 16