Company registered number: N1044638 Charity registered number: NIC102835 RIVERSIDE COMMUNITY ENTERPRISES LTD Ipiivale company limited by 8uaranlee withoul Share capital) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 Tony C13rke 53 Andersonstown Road Belfast BTII 9AG II IIIIRIIN ')C290PR5' 2610412023 COMPANIES HOUSE JNI
RIVERSIDE COMMUNITY ENTERPRISES LTD CONTENTS PAGE Referente and administrative details of the charity, its trustees and advisers Annual Report of the Trustees including Directors Independent Examiner Report Statement of Financlal Activities Balance Sheet Notes to the Financial Statements 8-13
RIVERSIQE COMMUNITY ENTERPRISES LTD (Prlvite ¢ompbny limlied by 8uaraniee wlthout share capi tall TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENOEO 31 OCTOBER 2022 STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME ANO EXPENDITURE ACCOUNT Yearto Unrestricted Restricted 31-0rt-22 Funds Funds TOTAL Year to 31-Oct-21 TOTAL Note Income from.. Donation5 and Legacies Rental Other Income 40,442 1,678 40,442 1,678 42,216 2,522 Total Income 42,120 42,120 44,738 Expendlture on: Charitable Activitie5 40.411 140,411) 145,9741 Total Expenditure: 140.411) 140.411 (45,974) Net income/(expenditurel 1,709 1,709 11,237) Transfers between funds Net movement in funds 1,709 1,709 (1,237 Reconclliation of F nds Total funds brought forward 863,448 863,448 864,68S Total funds carried forward 865,157 865,157 863,448 The statement of flnantial activlties includes all gains and losses reco8nlsed In the year. All Incoming resources and resources expended derlve from ¢ontlnuing activitles. The statement of fina ncial a ctlvities also complies with the requirernents for an income and expenditure account under the Companies Act 2006. The notes on page 8 to 13 form an integral part of these accounls
RIVERSIDE COMMUNITY ENTERPRISES LTD Iprivale company Ilmited by Buaraniee without share capirall TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 OCTOBER 2022 BALANCE SHEET As at 31 October 2022 2022 2021 Note Fixed Assets Tangible Assets 868,802 868,802 86S,802' 868,802 Current Assets Oebtors Cash at bank 1,410 7,205 8,614 2,766 2,105 4,871 Liabilities Creditor S.. arnouhisfal4rtR¢utwbthln one yti", 19,515 17,481 Net Current Assets 12,611 12,74>>. 863.448 Creditors: lon4 ieirn Il•ollLIts Net Assets 12,743) 865,157 Funds fte5tricted Unrestricted 865,157 863,448 TOTAL FLINDS 12 865,157 863,448 The company is entitled to the exemption from the audit requirement contained in section 477 of rhe Companies Act 2006, for the year ended 31 October 2022. The trustee5 acknowledge their responsibilitles for ensuring that the charity keeps accountin8 records which comply with sectlon 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the f inancia year and of its incoming resources and application of resources, includin8 its income and expenditure. for the financial year in aCCDrdarice with the requirements of sections 394 and 395 and which otherwise comply with the requiremenls of the Cornpanles Act 2006 relating to financial staternents, so far as applicable to the companv. The mernbers have not required the company to obtain &lll dudit of its financial statements for the year in question in accordance with Section 476. These financial staternents have been prepared in accordance with the provisions applicable to cornpanies subject to Ihe small companies regime. The rinancial statements were approved by the board of directors on were si8ned on their behalf by: i Sf tsl3and K Adams {Treasurerl Trustee The notes on page 8 to J.3 form and integral part of these accounts
RIVERSIDE COMMUNITY ENTERPRISES LTD IPfi¥ate company limited by 8uaranteE wilhoul share capitall TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 OCTOBER 2022 NOTES TO THE ACCOUNTS l Accounting policies Charity information Riverside Community Enterprises Ltd is a private company limited by guarantee incorporated in Northern Ireland. The registered office is- 61 Main Streer, Portglenone. BT44 8HP and the principal place of btssiness is Glenone Business PK , Kilrea Rd Portglenone 8T448PE. 1.1 Accounting conventlon The accounts have been prepared in accordance with the charity's governlng docurnent, the Companie5 Act 2006 and Accountlng 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 1021" (as amended for accounting periods commencing from l January 20161. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin I not to prepare a Statement of Cash Flow5. The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £1. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of f reehold properties and to include investment properties and certain f inancial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accountin8 in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes, Restricted funds are subject to specific conditions by donors as to how they may be used. 1.4 Incoming resources Income is recognlsed when the charlty Is legally entitled to it afler any performance conditions have been met, the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity ha5 been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
RIVERSIDE COMMUNITY ENTERPRISES LTD (Private company limited by guarantee without share capital) TRUSTEE5' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDEO 31 ocfoBER 2022 NOTES TO THE ACCOUNTS (continued) 1.4 Incoming resources (continued) Turnover is measured at the fair value of the considerarion received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes. 1.5 Resources expended Liabilities are recoBnised ès expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it Is probable that a transfer of economic be nefits will be required in settlement and the amount of the obligation can be measured rellably. Expend iture is accounted for on a n accruals basts and has been classified under headings Ihat 8greg3ie all cost related to the category. The Charity is below the charlty audlt threshold and therefore Is exempt from reporting expenditure on an activity basis. The charity has opted to report by the nature of expenditure rather than on an activity basis. 1.6 Tangible flxed assets Tangible fixed assets are Initially measured a t cost and subsequently measured at cost or valuation. net of deprectation and any impairment losses, Depreciation is reco8nised so as to write of f the cost or valuation of assets less their residual values over their useful lives on the followin8 bases.. Equipment Building Land 25% Reducing Balance Not Depreciated Not Depreciated 1.7 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposit5 held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabillties. 1.8 Financial Instruments The charity has elected to apply the provisions of Section 11 '83sic Financial Instruments, and Section 12 '0ther Financial Instrurnents Issues, of FRS 102 to all of its financial instruments. Financial instruments are recDgnised In the tharitY'5 balance sheet when the charity becomes party to contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable ri8ht to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability sirnultaneously
RIVERSIDE COMMUNITY ENTERPRISES LTD {Private company limited by Euarantee without share capital) TRUSTEE5' REPORT ANO FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 NOTES TO THE ACCOUNTS (continuedl 1.9 Basic financial assets Basic f inancial assets, which inclvde debtors and c35h and bank balances, are Initially measured at transaction price including transaction costs and are Subsequently carried at amortised cost using the effective interest method unle55 the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial asset5 classified as receivable within one year are not amortised. 1.10 8351c flnancial liabllitles Basic financial liabilities, including creditars and bank loans are initially reco8ni5ed at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument IS measurEd at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instrurnents are Subsequently carried at amortised c05t, using the effective interest rate Method, Trade creditors are obligations to pay for 8oods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable ère classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilitles. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost Using the effectlve Interest method. 1.11 Dereco8nition of financial Ibabilities Financial liabilitles are derecognised when the charity's contractual obligations explre or are discharged or cancelled. 1.12 Employee benefils The cost of any unused holiday entitlement is recognised in the perlod in whlch the employee's services are received. Termination benefits are recognised immediately as an expense when the charity is dernonstrably committed to terminate the employment of an ernployee or to prode terminarion benefits. 1.13 Critical accounting estimates and judgements In the application of the charity's accounting policie5, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historic31 experience and other factors that are considered to be relevant. Actu31 results may differ from these estimates, The eslimates and underlying assumptions are reviewed on an on80in8 basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 10
RIVERSIDE COMMUNITY ENTERPRISES ITD (Private company limited by guarantee wlthout Share capital) TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 NOTES TO THE ACCOUNTS Icontinuedl 2 Incom from Donations and Le aci 2022 2021 Unrestricted Funds Restricted Funds TOTAL TOTAL Donations and Legacies Totals 2022 Tota15 2021 3 In mefr mRen 2022 2021 Unrestrlcted Funds Restrl¢ted Funds TOTAL TOTAL Rental Service Charge Totals 2022 38,362 2,080 40,442 38,362 2,080 40,442 40.076 2,140 42,216 Totals 2021 42.216 42,216 ther In om Unrestricted Funds Re5trlcted Funds 2022 TOTAL 2021 TOTAL Insurance Grant5 Totals 2022 1,678 1,678 1,689 833 2,522 1,678 1,678 Totals 2021 2,522 2,522 5 Slaff C sts an mber There were no direct employees during the year.12021'.Nill No trustee received any remuneration or expenses for services as a trustee during the current year, nor during the year ended 31 October 2021. 6 Debtors 2022 2021 Rents outstanding 1.410 1,410 2,766 2,766 7 Creditors: amounts fallin due within one ear 2022 2021 Accruals & Deferred Income Trade Creditors HMRC VAT 600 soo 8,118 11,1371 7.481 7,488 1.427 9,515 li
RIVER51DE COMMUNITY ENTERPRISES LTD (Pfivate Company limired by Euarantee without share cèpitèll TRUSTEE5' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2022 NOTES TO THE ACCOUNTS ICONTINUEDI enditure Charitable Activities 2022 2021 Unrestricted Funds Restricted Funds TOTAL TOT AL Awards and Grants Electricity & gas Repairs and Maintenance Insurance Administration Sewerage Consultancy & professional fees Bank Char8es Charitable Donations Water Charges Total 2022 984 931 10,524 2.071 12,861 931 10,524 2,071 12.861 642 11.723 1,976 10,400 700 180 10,000 2.160 40,411 700 180 10,000 2,160 40,411 600 157 18,000 2,476 45.974 Tot312021 45,974 45,974 9 Tan ible Fixed Ass COST At l November 2021 Additions Disposals At 31 October 2022 Buildin Lan 768,802 100,000 868,802 768,802 ioo,ooo 868,802 DEPRECIAfioN At l November 2021 Char8e for the year Eliminated on disposal At 31 October 2022 NET BOOK VALUE At 31 October 2021 768,802 loo,000 868,802 Al 31 October 2022 768,802 100,000 868,802 10 Inde endent examiner's remuneration The independent Examiner's remuneration amounts to an Independent Examination fee of £50012021- £5) 11 Related transa ions There were no related party transactions during the year. 12
RIVERSIDE COMMUNITY ENTERPRISES LTD (Private ¢ompany lirnlied by guafaniee without share capilal TRUSTEES, REPORT AND FINANCIAL STATEMENTS FORTHE YEAR ENDEO 31 OCTOBER 2022 NOTES TO THE ACCOUNT51contlnued) 12 Statement ol funds- current ear Balance at INOV 2021 Balance at 310rt 2022 Income Expenditure Transfer in/out Restrieted funds Restricted Fund5 Total restricted funds 863,448 863,448 42.120 42,120 (40,4111 140,4111 865.157 865,157 Unrestrlcted funds General funds Total Unreslrirted funds Total of fund5 . current year 863,448 42.120 140,4111 865.157 13 atem nt of fund - Balance at INOV 2020 Transfer in/out Balance at 31 Ocl 2021 Income Expenditure Total unrestricted f unds Tot31 restricted f unds Total of funds - prior year 864,685 864,685 44.738 44,738 (45,974) 45,974 863,448 863,448 13