COMPANY REGISTRATION NUMBER: N1031452 CHARITY REGISTRATION NUMBER: NIC102977 Learmount Community Development Group Ltd Company Limited by Guarantee Unaudited Financial Statements 31 May 2023 CLAREMOUNT Chartered Accountants 1 b Brookmount Crescent Omagh Co Tyrone BT78 5HG
Learmount Community Development Group Ltd Company Limited by Guarantee Financial Statements Year ended 31 May 2023 Pages Trustees. annual report (incorporating the director's report) Independent examiner's report to the trustees 1to4 Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements 8t015 The following pages do not form part of the financial statements Detailed statement of financial activities 17 Notes to the detailed statement of financial activities 18
Learmount Community Development Group Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 May 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 May 2023. Reference and administrative details Registered charity name Learmount Community Development Group Ltd NIC102977 Charity registration number Company registration number N1031452 Princlpal office and reglstered School Lane office 192 Learmount Road Park Village Co Derry BT47 4BA The trustees Ms P McGrellis Ms S Witherow Mr JB Murphy Mr K Lynch Mr P Conway Ms P O'Neill Mrs S Byrne Mrs M O'Kane Company secretary Mrs K O'Kane Independent examiner Shaun McElhinney 1b Brookmount Crescent Omagh Co Tyrone BT78 5HG
Learmount Community Development Group Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contlnuod) Year ended 31 May 2023 Structure. governance and management Goveming Document The organisation is a charitable company, limited by guarantee, incorporated on 17 October 1996. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. The trustees of the charity. who are also directors, are detailed on page 1. Management Subject to the provisions of the Companies Act, the memorandum and the articles of association and to any directions given by special resolution, the business of the Company shall be managed by the directors who may exercise all the powers of the company.
Learmount Community Development Group Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnuodj Year ended 31 May 2023 Objectives and activities Learmount Community Development Group Ltd was established in 1991 to empower and support the people of Learmount in working towards the social, environmental and educational development of the community through voluntary action. The main activities of Learmount Community Development Group Ltd revolve around the provision of serviceslactivities for all residents in the Park Ward of County Derry. The organisation continually addresses the multiple inequalities and deprivation that rural people consistently experience and the organisation endeavours to alleviate this through the provision of essential services in the local area. The organisation maintain four buildings in the area.. Learmount Resource Centre. Learmount Community Centre, the Masterfs House and Park Soccer Clubhouse and Pitch. In March 2022 the CARE Project (Collective Approach to Rural Exclusion) began a joint project in the Sperrin DEA, led by the Learmount Group with partners in Glenelly. Donemana, Artigarvan and Ballymagorry. The project is aimed at improving the health and wellbeing of people aged 55 plus, encouraging them to stay connected to their local communities through participation in a range of activities and services, including joint activities beeen the partners. The National Lottery Community Fund have awarded £455,172 over 4 years. administered by The Learmount Group. Main Activities include: Provision of Resource Centre and Community Centre to house local groups and provide outreach services i.e. Parent & Toddler Group, Playgroup, 60+ Luncheon Club, Outreach Health Centre including G.P, treatment room and provision of prescriptions, Post Office service, Citizens Advice, Dementia Friendly Community Services, Park & District Farms Association, St. Mary's Youth Club, and Drop in Centre. Provision of personal, social, educational. environmental activities, events and programmes such as IT, Yoga, Craft Classes, First Aid, Healthy Living, Santa Trail, Outings, History Club etc. Provision of administration services to local groups and individuals living in the area. Obtaining funding for Capital Build, Environmental Projects, Village Enhancements and Learrnount Forest improvements. Lobbyists for the community when issues arise with statutory agencies such as DRD, Translink, DHSS&PS etc. Pressure group on matters of concern to the area and attend meetings and forums further afield when necessary. Operation of highly successful volunteering programme which offers a range of services including Good Morning Park {a telephone support service for older people), Befriending, Transport, Kid's Club, Environmental Club, Book Club, Fishing Club, Collection of Recyclable items. Collection of Clinic items etc. Dementia Hub providing a range of Dementia Friendly Community Services. The charity operates a community development group.
Learmount Community Development Group Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢ontlnuedJ Year ended 31 May 2023 Achievements and performance Ail objectives and targets set have either been fully realised or are being significantly progressed. Financial review The organisation had another successful year in which the net assets remain relatively stable at £271,117. Principal Funding Sources The principal funding source for the charity was by way of grant income from various funders. The charity also generates income from its resource centre. Grant Policy Grants obtained are classified as restricted funds and are subject to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Reserves Policy The trustees are confident that the reserves of the company are of a sufficient level to be able to continue the current activilies of Ihe charity in the event of a drop in funding. Unrestficted reserves are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted reserves are subjected to restrictions on their use by the donor. Finance reserves are set aside to protect the charity against drops in income and as a back-up for future extensions and commitments when necessary in relation to Park Soccer Clubhouse and pitch, Learmount Resource Centre. Learmount Community Centre and the Master's House. It is also policy to increase reserves to cover six months operational expenditure should it be required in the future. The balance in the charitvs bank accounts at the balance sheet date is £107.724. Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 20 September 2023 and signed on behalf of the board of trustees by.. Mrs S Byrne Trustee Mrs M O'Kane Trustee
Learmount Community Development Group Ltd Company Limited by Guarantee Independent Examiner's Report to the Trustees of Learmount Community Development Group Ltd Year ended 31 May 2023 report to the trustees on my examination of the financial statements of Learmount Community Development Group Ltd ('the charity) for the year ended 31 May 2023. Responsibilities and basis of report As the truslees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act {Northern Ireland) 2008 (the '2008 Act.) and the Companies Act 2006 ('the 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respecl of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65{9)(b) of the 2008 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect= accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial statements do not accord with those records- or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I confirm that there are no other matters to which your attention should be drawn to enable a proper tanding of the accounts to be reached. Shaun McElhi ey Independent Exa 1b Brookmount Crescent Omagh Co Tyrone BT78 5HG
Learmount Community Development Group Ltd Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 May 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and legacies Other trading activities Total income 94,606 94,606 34.751 47,261 40,797 34,751 34.751 94,606 129,357 88,058 Expenditure Expenditure on raising funds.. Costs of other trading activities Expenditure on charitable activities Total expenditure 12,854 81,752 12,854 108,709 121,563 6,449 88,672 26,957 26,957 94,606 95,121 Net incomel(expenditure) and net movement In funds 7,794 7,794 {7,063) Reconciliation of funds Total funds brought forward Total funds carried forward 233,736 241,530 29,587 263,323 270,386 29,587 271,117 263,323 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 15 form part of these financial statèments.
Learmount Community Development Group Ltd Company Limited by Guarantee Statement of Financial Position 31 May 2023 2023 2022 Note Fixed assets Tangible fixed assets 14 179,121 186.258 Current assets Debtors Cash at bank and in hand 15 345 107,724 108,069 1,056 102,654 103,710 Creditors.. amounts falling due within one year Net current assets 16 (125) (67) 103,643 107,944 287,065 Total assets less current liabilities 289,901 Accruals and deferred income {15,948) 271,117 (26,578) 263.323 Net assets Funds of the charity Restricted funds Unrestricted funds 29,587 241,530 271,117 29,587 233,736 Total charity funds 17 263,323 For the year ending 31 May 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regima. These financial statements were approved by the board of trustees and authorised for issue on 20 September 2023, and are signed on behalf of the board by.. Mrs S Byrne Trustee Mrs M O'K Trustee ne The notes on pages 8 to 15 form part of these financial statements.
Learmount Community Development Group Ltd Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2023 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is School Lane, 192 Learmount Road, Park Village, Co Derry, BT47 4BA. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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) (Charities SORP IFRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by th8 revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue as a going concern. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. la) No cash flow statement has been presented for the company. (bl Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgernents, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expeclations of future events that are believed to be reasonable under the circumstances. No judgements that management has made in the process of applying the entity's accounting policies have a significant effect on the amounts recognised in the financial statements. No accounting estimates or assumptions have been made.
Learmount Community Development Group Ltd Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 May 2023 Accounting policies (contlnued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes: restricted income funds or endowment funds. Incoming resources Fund Accounting Unrestricted funds are available for use at the discretion of tho trustees in furtherance of the general objectives of the charity. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal. Incoming Resources All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income- Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Investment income is included when receivable. Incoming resources from charitable trading activity are accounted for when earned. Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by ils performance.
Learmount Community Development Group Ltd Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 May 2023 Accounting policies (continued) Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.. Costs of generating funds comprise the costs associated with attracting voluntsry income and costs of trading for fundraising purposes. Charitable expenditure comprises those costs incurred by the charity in the 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. Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity. All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Tangible assets All fixed assets are initially recorded at cost. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows: Freehold Property Equipment Fixtures & Fittings Computers Not depreciated 15 /0 Straight line 15 % straight line 150/0 Straight line Leasehold Propety Community Centre Resource Centre Play Area 2 % Straight Line 2 % Straight Line 100/, Straight Line Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impainnent testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the assel belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. 10-
Learmount Community Development Group Ltd Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 May 2023 Accounting policies (continued) Impairment of fixed assets (contlnued) For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charily are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a markel rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Limited by guarantee The company is limited by guarantee. 11
Learmount Community Development Group Ltd Company Limited by Guarantee Notes to the Financial Statements (¢ontlnued) Year ended 31 May 2023 Donations and legacies Restricted Total Funds Funds 2023 Restricted Total Funds Funds 2022 Grants Big Lottery Fund Derry City & Strabane District Council RAPID - Child RAPID SSE Renewables The Bytes Project DAERA AVIVA CARE WHSCT Woodland Trust DEEDS Funding Halifax Foundation Grant 1,000 23,794 3,000 1,862 1,000 495 25 5,000 653 3,159 125 3,148 4,000 1,000 23,794 3,000 1,862 1,000 495 25 5,000 653 3,159 125 3,148 4,000 19,638 2,250 11,305 760 19,638 2,250 11,305 760 52,601 100 52,601 100 7,952 7,952 94,606 94,606 47,261 47,261 Other tradlng activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Fundraising events Covid-19 Grants NIE Wayleave Learmount Dementia Fund Educational Training Courses Facility Hire and Secretarial Services Contributions towards expenses for use of resource centre Contributions towards expenses for events 219 219 520 4,746 520 4,746 12,206 7,662 2,561 12,206 7,662 2,561 14,142 8,640 1.315 14,142 8,640 1,315 11,901 11,901 10,549 10,549 200 200 883 883 34,751 34,751 40,797 40,797 Costs of other trading activlties Unrestricted Funds Restricted Total Funds Funds 2023 Costs of other trading activities 12,854 12,854 Unrestricted Funds Restricted Total Funds Funds 2022 Costs of other trading activities 396 6.053 6,449 12
Learmount Community Development Group Ltd Company Limited by Guarantee Notes to the Financial Statements (continugd) Year ended 31 May 2023 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Support costs 26,957 81,752 108,709 Unrestricted Funds Restricted Total Funds Funds 2022 Support costs 47,464 41,208 88,672 Expenditure on charitable activities by activity type Total funds 2023 Total fund 2022 Support costs Governance costs 108,709 108,709 88,672 10. Net incomel(expenditure) Net income/(expenditure) is stated after chargingl(crediting}= 2023 2022 Depreciation of tangible fixed assets 8,891 8,901 11. Independent examination fees 2023 2022 Fees payable to the independent examiner for.. Independent examination of the financial statements 720 720 12. Staff costs The total stsff costs and employee benefits for the reporting period are analysed as follows: 2023 2022 Wages and salaries 53,388 47,594 The average head count of employees during the year was 3 {2022: 3). The average number of full- time equivalent employees during the year is analysed as follows.. 2023 2022 No. Number of trustees Number of staff 11 15 No employee received employee benefits of more than £60,000 during the year (2022: Nil). 13-
Learmount Community Development Group Ltd Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 May 2023 13. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 14. Tangible fixed assets Land and Fixtures and buildings fittings Equipment Computers Total Cost At 1 June 2022 Additions 324,082 20,813 52.833 932 38,536 822 436,264 1,754 438,018 At 31 May 2023 Depreciation At 1 June 2022 Charge for the year At 31 May 2023 Carrying amount At 31 May 2023 At 31 May 2022 324,082 20,813 53,765 39,358 145,710 6,124 20,078 369 50,887 1,020 51,907 33,331 1,378 250,006 8,891 151,834 20,447 34,709 258,897 172,248 178,372 366 1,858 1,946 4,649 179,121 735 5,205 186.258 15. Debtors 2023 2022 Trade debtors 345 1,056 16. Creditors: amounts falling due within one year 2023 2022 Bank loans and overdrafts 125 67 17. Analysis of charitable funds Unrestricted funds At 1 June 2022 At Income Expenditure 31 May 2023 General funds 233.736 34,751 (26,957) 241,530 At 1 June 2021 At Income Expenditure 31 May 2022 General funds 240,799 40,797 (47,860) 233,736 14-
Learmount Community Development Group Ltd Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 May 2023 17. Analysis of charitable funds (continued) Restricted funds At 1 June 2022 At Income Expenditure 31 May 2023 Restricted Funds 29,587 94,606 (94,606) 29,587 At 1 June 2021 At Income Expenditure 31 May 2022 Restricted Funds 29,587 47,261 (47,261) 29,587 18. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 179,121 20,635 (125) (15,948) 183,683 179,121 108,069 (125) {15,948) 271,117 87,434 87,434 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 186,258 31,345 {67) (26,578) 190,958 186,258 103,710 {67) (26,578) 263.323 72,365 72,365 15
Learmount Community Development Group Ltd Company Limited by Guarantee Management Information Year ended 31 May 2023 The following pages do not form part of the financial statements.
Learmount Community Development Group Ltd Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 May 2023 2023 2022 Income and endowments Donations and legacies Big Lottery Fund Derry City & Strabane District Council RAPID- Child RAPID Millenium Forum Funding SSE Renewables The Bytes Project DAERA AVIVA CARE WHSCT Woodland Trust DEEDS Funding Halifax Foundation Grant 1,000 23,794 3,000 1.862 19,638 2,250 10,847 458 760 1,000 495 25 5,000 653 3.159 125 3.148 4.000 52,601 100 7,952 94,606 47,261 Other trading activities Fundraising events Covid-19 Grants NIE Wayleave Learmount Dementia Fund Educational Training Courses Facility Hire and Secretarial Services Contributions towards expenses for use of resource centre Contributions towards expenses for events 219 520 4,746 12,206 7,662 2,561 11,901 200 14,142 8,640 1,315 10,549 883 34,751 40,797 Total income 129,357 88,058 17-
Learmount Community Development Group Ltd Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 May 2023 2023 2022 Costs of other trading activities Costs of other trading activities Educational Training Costs 12,854 6,449 Costs of other Irading actlvities 12,854 6.449 Expenditure on Charitable activities Governance costs Governance costs - wageslsalaries Governance costs - other establishment Governance costs - accountancy fees Travel & Subsistence Sundry expenses Governance costs - depreciation Interest payable & other charges Event Expenses Repairs & Maintenance Office & Communication Expenses 53,388 12,994 1,040 4,112 1,207 8,891 456 15,366 6,788 4,467 108,709 47,594 11,039 720 310 1,886 8,901 394 6,629 7,133 4,066 88,672 Expenditur8 on charitable activities 108,709 88,672 18-