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2023-03-31-accounts

Charity registration number NIC103106

Company registration number NI040909 (Northern Ireland)

THE OLD LIBRARY TRUST

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

THE OLD LIBRARY TRUST

CONTENTS

Page
Charity Information 1
Trustees' report 2 - 9
Independent auditor's report 10 - 13
Statement of financial activities 14 - 15
Balance sheet 16
Notes to the financial statements 18 - 30

THE OLD LIBRARY TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr Charlie O'Donnell (Chairperson)
Mr Karol McCauley (Treasurer)
Mr Damien Harkin (Vice Chair)
Ms Anna-Claire Murray
Mr Sean Doherty
Ms Martine Mulhern
Mr Maurice O'Donnell
Secretary Ms Martine Mulhern
Charity number NIC103106
Company number NI040909
Registered office The Old Library
Central Drive
Derry
BT48 9GQ
Auditor Moore (NI) LLP
21-23 Clarendon Street
Derry-Londonderry
BT48 7EP
Bankers AIB Bank
Meadowbank
Strand Road
Derry~Londonderry
BT48 7TN
Bank of Ireland
27 Culmore Road
Londonderry
BT48 8JB
Solicitors Quigley, Grant & Kyle
Solicitors
10 Queen Street
DERRY
BT48 7EF

THE OLD LIBRARY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2023

The trustees present their annual report and financial statements for the year ended 31 March 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 charity's governing document, 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

Vision

We exist to address the social and health needs of the most disadvantaged by engaging residents in community development processes, aimed at reducing inequalities in health by tackling the root causes. We support the people who use our services, many of whom are amongst the most vulnerable in our society, to live healthy happier lives.

Mission

Overcoming inequalities in health and improving the health and wellbeing of people living in poverty and disadvantage.

Goals

Supporting people to develop the confidence to aspire and achieve new life setting goals transforming their lives and creating happier, healthier lives.

Social Justice

The Old Library Trust is guided by a concern for social justice and works to create a society in which every individual is valued and recognised as a fully dignified human being.

The aims of the OLT are to:

1) Overcome the inequalities in health by tackling the root causes of ill health; improving service delivery and access to services for people living in poverty and disadvantage and to support people to develop the confidence to aspire and achieve new life setting goals transforming their lives and creating happier, healthier lives; and

2) Maintain the Healthy Living Centre engaging in partnership with local residents and community groups in Creggan and to work with others in the voluntary, statutory and private sectors to develop programmes and services promoting the healthy development and growth of all people living in the community.

The objectives of the OLT are:

1) Sustain the Healthy Living Centre for the delivery of services and programmes addressing the social and health needs of residents at the neighbourhood level

2) Provide a sustainable, community-led process to inform and deliver appropriate programmes and services.

3) Develop working partnerships with others in the community, voluntary and public sectors to facilitate accessible service delivery.

4) Set up structures to develop, monitor and evaluate strategies, programmes and services promoting lifestyle changing in the health and social wellbeing and early year's development of local people.

5) Provide documented evidence of the effectiveness of the new model for community health service delivery.

THE OLD LIBRARY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

The Healthy Living Centre

The HLC is a model of good practice for the delivery of community-based social and health care services and programmes engaging people in community development processes aimed at reducing the inequalities in health by tackling the root causes of ill health.

The project is designed to improve community health, address local needs, build confidence and develop knowledge and skills supporting people to take greater responsibility for their own health and wellbeing. The HLC provides access to primary care services at the neighbourhood level by working in partnership with service providers in the community, voluntary and statutory sectors.

Human Resources

Staff and directors are viewed as valuable assets of the organisation and receive training and support to maintain and enhance their skills and motivation.

All staff have personal development aims and objectives written into their work plans with a minimum of three training and educational courses required to fulfil their job roles on an annual basis. All staff meet OLT minimum standard training requirements in areas such as safeguarding children and child protection, safeguarding adults and vulnerable adult’s protection, First aid at work, AED Training, mental health first aid & trauma informed practice. Individual 6 month reviews carried out by senior management & the Project director will investigate further issues associated with training and support.

Partnership

The ethos of strategic partnership underpins the OLT's working arrangements and emphasises the collective responsibility of all in tackling health inequalities by meeting the health and wellbeing needs of residents in the Triax area of benefit.

Statement of compliance with Charity Commission guidance

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Key achievements of delivery for 2022/ 23

Programme and service activity:

Strategic Priority 1: Healthy Lifestyles: Tackling inactivity, poor nutrition, and obesity whilst lifting spirits through the delivery of several interventions, programme and services that included:

Exercise & wellbeing:

A weekly community exercise timetable of a wide variety of exercise classes seen over 150 local people attend over the course of the year for one of more of the classes on offer that included Boxercise, circuit, yoga and gym. The Addition of the biggest improver programme for beginners seen a further 63 people attend 12-week programmes to Improve their overall wellbeing with 15 new beginners learning swimming.

Our Men’s & ladies health programmes continued to gather momentum with 60 local people attend on a weekly basis for session specific sessions such as netball, football, gym, and circuit training, whilst our school outreach work promoting physical activity seen sessions delivered to over 300 local children.

Nutritional support to local families continued with our partnership with the Healthy Lliving Centre Alliance and SafeFood to ensure 150 adult parents received important messages, techniques, and tips around good food & nutrition.

THE OLD LIBRARY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Communities in Transition:

The investment in Creggan by The Executive Office Communities in Transition Project enabled the organisation to continue to support those residents who are difficult to engage to get involved in community life and health and wellbeing activities. This support comes in the form of one-off engagement events, one to one specific mentoring and the promotion of volunteering, upskilling and training. Over 240 hours delivered in counselling and over 60 qualifications gained by those who took part in the programme.

60 Local people engaged in one-to-one support for poor mental and physical heath and associated long term conditions. Support included one-to-one mentoring, counselling, physiotherapy, nutritional support, and personal development. Over 4 large community engagement events seen 600+ people attend for information on community services and support with 35 of our partner organisations.

Strategic priority 2: Older Adults: Providing weekly physical, social and emotional support for older people and those people living with dementia. Support included the following:

Older adult’s wellbeing: Our Older adults support package during this period continued to engage older residents in health, wellbeing, social and uplifting programmes and services. Examples included exercise specific sessions in yoga and line dancing to 51 residents, classic film night to 30 people, community bingo evening with 57 players and our seasonal events of St. Patrick’s Day breakfast, Feile Bus Run, Feile Bingo and Christmas and Easter dance with 346 attendees.

THE OLD LIBRARY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Dementia specific DEEDs work:

72 DEEDS members, their families, loved ones and carers were supported with bespoke intervention over this financial year. This included weekly activities and contact to assist those living with dementia to live better for longer within their own community.

Additional support services included a dementia friendly film show for 130 people. Large scale dementia friendly events with 337 in attendance, intergenerational schools work with 97 children and a Mellowdeeds concert with 59 people showing their full support.

Training and education numbers increased this year due to increased demand with training delivered to 41 student paramedics, 337 student nurses, 72 carers and 76 individuals with an interest in Dementia. The DEEDS project is also supported by and engages 30 volunteers on an annual basis. These volunteers are celebrated with an annual event and continue to prove invaluable to the organisation.

Debra and her mum Mary:

"Mammy loves coming to Deeds to meet new people . She relaxes and all anxiety is gone. It’s a great service. I came to Carers Education and decided to become a volunteer. My granny, 3 uncles and now mum have dementia and I just wanted to give something back to the community."

Strategic Priority 3: Long-Term Condition Management: Providing a holistic programme of wellbeing to those living within the community that have one or a combination of long-term conditions. Programmes examples included:

THE OLD LIBRARY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Strategic priority 4: Family support & the Family First Hub

The OLT is the employing body for the co-ordination of the Family First Hub in the Triax area. The Family First Hub works in partnership with WHSCT Family & Childcare Services. During this year face-to-face services to support families were inundated due to the increased needs in the local area. The cost of living pushed people to their limits also.

The Family First Hub supported 206 individual families this year through a range of services that included financial support, mentoring for children and parents, talking therapies and counselling as well as Christmas support and the impact of poverty.

Funding was received from Save the Children and the WHSCT and used to support local families in the form of small grants for food, electricity, presents at Christmas and white goods in winter.

In addition to this Fresh little mind was delivered to 41 local children with a further 30 children availing of child therapy, and 12 adults taking up counselling offered by the organisation.

Strategic priority 5: Positive Minds

82 People took part in structure Mindfulness programmes such as ‘Stairways’ Funded by CLEAR alongside 62 local people taking part in mindfulness and relaxation on a weekly basis. Positive minds funding was a challenge in year but a major need within the community as we move into the new financial year.

THE OLD LIBRARY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Tenancy acitivity

The OLT provides facilities and space for other service programme delivery, and leases space for a range of local service providers in the statutory, community and business sectors. These include the following:

A word of thanks

Critical to all the achievements and developments over the last 12 months, has been the organisational leadership, the commitment and passion displayed by the Board of Directors, the Project Director, the programme coordinators, support staff, facilitators and volunteers and everyone involved in the community sector across the area. This, coupled with the flexible continued financial support of all our funders, ensured that we can support local people in whatever way we could and for that we are forever grateful.

Financial review

Against the backdrop of limited resources and insecurities over funding, OLT has exercised prudence and managed to make a small surplus for the year. OLT has ensured that the core services are sustained and has set out the following plan for the future sustainability of services.

Income Generation

OLT has significant capacity for income generation through agreement of service level agreements, rental of social economy and primary care units, programme delivery and sessional rental of space. The OLT will maintain prudence in the management and delivery of programmes and services and will work within the terms and conditions of each of its funders. It is anticipated that significant saving will be made in the year ahead through funding secured for facilitators fees which have previously been met through income generation activity. All of the charity's funds are to be spent in the short term as there has been no opportunity since incorporation to accumulate funds for investment.

Reserves Policy

The Board of Directors has examined the charity's requirements for reserves in light of the main risks to the organisation. It has established a policy whereby unrestricted funds not committed or invested in tangible fixed assets held by the charity should between 3 and 6 months of core staff costs and fixed overheads. Charitable activities would be significantly scaled back in this scenario until sufficient funding was obtained to revert to normal levels of programme activities. Based on current staff costs and fixed overheads, the target level of reserves for 3months costs is £80,000.

At the reporting date, the charity held unrestricted reserves of £472,871, which includes £123,553 invested in tangible fixed assets and therefore not available towards the reserves policy target level. Therefore the free reserves of the charity at the year end is £349,318. The strategy is to continue to build free reserves through planned operating surpluses. In the short-term the board has also considered the extent to which existing activities and expenditure could be curtailed, should circumstances arise.

THE OLD LIBRARY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Risk Management

OLT carries out regular reviews of the major risks to which the organisation is exposed and is compliant with SORPs requirements including strategic risk management. A risk register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the organisation faces. Internal controls are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety for staff, volunteers, centre users and visitors. All policies and procedures are periodically reviewed to ensure that they continue to meet the needs of the organisation.

Plans for future periods

The 2023/24 year will no doubt be a challenging one as we reflect on the true impact of the pandemic to local people. The organisation will continue to adapt, innovate, and reach out to support the local community as we all try and navigate our way out of this unique situation. A real strength of this organisation is the commitment of staff and volunteers to support those in most need. Their efforts were nothing short of remarkable over the last year and there is no doubt that this will continue into the coming year.

Structure, governance and management

Governing Document

The company holds charitable status and is a company limited by guarantee, incorporated in July 2001. The company was established under a Memorandum of Association which sets out the objects and powers of the charitable company and 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, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr Charlie O'Donnell (Chairperson) Mr Karol McCauley (Treasurer) Mr Damien Harkin (Vice Chair) Ms Anna-Claire Murray Mr George McGowan (Resigned 7 June 2023) Mr Sean Doherty Ms Yvonne Mullan (Resigned 7 June 2023) Ms Martine Mulhern Mr Maurice O'Donnell

Recruitment & Appointment of Board of Directors

The Board of Directors meetings take place on the first Tuesday of each month. The purposes of the meetings are to update directors on current activities, make strategic decisions, conduct business and discuss any issues relevant to the activities of the OLT. The first members of the Company are the subscribers to the Memorandum of Association.

THE OLD LIBRARY TRUST

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

Statement of trustees' responsibilities

The trustees, who are also the directors of The Old Library Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

In accordance with the company's articles, a resolution proposing that Moore (NI) LLP be reappointed as auditor of the company will be put at a General Meeting.

Disclosure of information to auditor

Each of the trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The trustees' report was approved by the Board of Trustees.

Mr Charlie O'Donnell (Chairperson)

Trustee

19 December 2023

THE OLD LIBRARY TRUST

INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF THE OLD LIBRARY TRUST

Opinion

We have audited the financial statements of The Old Library Trust (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

THE OLD LIBRARY TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE OLD LIBRARY TRUST

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

Extent to which the audit was considered capable of detecting irregularities, including fraud

The objectives of our audit in respect of fraud, are; to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks; and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the charitable company.

Based on our understanding of the charitable company and its operating environment, we determined that the most significant frameworks which have a direct impact on the preparation of the financial statements are those related to the reporting framework, (FRS 102, the Charities Act (Northern Ireland) 2008, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, the Charity SORP and the Companies Act 2006).

THE OLD LIBRARY TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE OLD LIBRARY TRUST

The charitable company is also subject to other laws and regulations including employment law, regulations in relation to the company's charitable status and activities involving the receipt of funds which use is restricted by terms set out by the donor. Non-compliance in respect of any of these matters may have a material effect on the financial statements. Our required procedures in this area are limited to enquiry of Trustees and other management, and inspection of any regulatory or legal correspondence. These limited procedures did not identify any actual or suspected non-compliance.

We assessed the susceptibility of the charitable company's financial statements to material misstatement, including how fraud might occur, including evaluating management's incentives and opportunities to manage earnings or influence the reported results. From the results of our assessment, we determined that the principal risks of fraud relate to posting inappropriate journal entries and use of charity funds for purposes outside of restrictions imposed by the donor. In common with all audits under ISAs (UK), we are required to perform specific procedures to respond to the risk of management override.

Audit response to risks identified

As part of an audit in accordance with ISAs (UK) we exercise professional judgement and maintain professional scepticism throughout the audit. Audit procedures performed by the engagement team included:

We communicated relevant laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit. There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment through collusion, forgery, intentional omissions, misrepresentations or the override of internal control.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

THE OLD LIBRARY TRUST

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF THE OLD LIBRARY TRUST

John Bradley (Senior Statutory Auditor) for and on behalf of Moore (NI) LLP

Chartered Accountants Statutory Auditor

19 December 2023

21-23 Clarendon Street Derry-Londonderry BT48 7EP

THE OLD LIBRARY TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

Current financial year
Unrestricted
Restricted
funds
funds
2023
2023
Notes
£
£
Income and endowments from:
Donations and legacies
3
1,476
142,261
Charitable activities
4
128,693
724,111
Other income
5
18,772
-
Total income
148,941
866,372
Expenditure on:
Charitable activities
6
75,670
852,146
Net incoming resources before transfers
73,271
14,226
Gross transfers between funds
16
77,260
(77,260)
Net movement in funds
150,531
(63,034)
Fund balances at 1 April 2022
322,340
1,604,613
Fund balances at 31 March 2023
472,871
1,541,579		 Total
2023
£
143,737
852,804
18,772
1,015,313
927,816
87,497
-
87,497
1,926,953
2,014,450		 Total
2022
£
133,430
720,478
-
853,908
779,519
74,389
-
74,389
1,852,564
1,926,953

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE OLD LIBRARY TRUST

STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2023

Prior financial year

Unrestricted
Restricted
funds
funds
2022
2022
Notes
£
£
Income and endowments from:
Donations and legacies
3
35,010
98,420
Charitable activities
4
114,568
605,910
Total income
149,578
704,330
Expenditure on:
Charitable activities
6
82,963
696,556
Net incoming resources before transfers
66,615
7,774
Gross transfers between funds
16
104,000
(104,000)
Net movement in funds
170,615
(96,226)
Fund balances at 1 April 2021
151,725
1,700,839
Fund balances at 31 March 2022
322,340
1,604,613		 Total
2022
£
133,430
720,478
853,908
779,519
74,389
-
74,389
1,852,564
1,926,953

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE OLD LIBRARY TRUST

BALANCE SHEET

AS AT 31 MARCH 2023

Notes
Fixed assets
Tangible assets
10
Current assets
Debtors
11
Cash at bank and in hand
Creditors: amounts falling due within
one year
12
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
14
Unrestricted funds		 2023
£
£
1,576,648
157,882
322,839
480,721
(42,919)
437,802
2,014,450
1,541,579
472,871
2,014,450		 2022
£
£
1,599,977
100,478
271,910
372,388
(45,412)
326,976
1,926,953
1,604,613
322,340
1,926,953		 2022
£
£
1,599,977
100,478
271,910
372,388
(45,412)
326,976
1,926,953
1,604,613
322,340
1,926,953
1,926,953
1,604,613
322,340
1,926,953

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 19 December 2023

Mr Charlie O'Donnell (Chairperson) Mr Karol McCauley (Treasurer) Trustee Trustee

Company Registration No. NI040909

THE OLD LIBRARY TRUST

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023

Notes
Cash flows from operating activities
Cash generated from operations
19
Investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Financing activities
Repayment of bank loans
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year		 2023
£
(39,392)
-		 £
90,321
(39,392)
-
50,929
271,910
322,839		 2022
£
-
(44,070)		 £
77,038
-
(44,070)
32,968
238,942
271,910

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

Charity information

The Old Library Trust is a private company limited by guarantee incorporated in Northern Ireland. The registered office is The Old Library, Central Drive, Derry, BT48 9GQ.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). 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 not to prepare a Statement of Cash Flows.

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 £.

The financial statements have been prepared under the historical cost convention. 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 accounting 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.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the charity is legally entitled to it after 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 has 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.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

Expenditure on charitable activities includes the costs of services undertaken to further the purposes of the charity and their associated support costs. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings 2% straight line Fixtures and fittings 25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits 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 liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the 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 right 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 simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless 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 assets classified as receivable within one year are not amortised.

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised 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 instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Taxation

The company is a charity and is recognised as such by HM Revenue & Customs. As a result, there is no liability to taxation on any of its income.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, 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 historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing 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.

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

3 Donations and legacies

Unrestricted
Restricted
funds
funds
2023
2023
£
£
Donations and gifts
1,476
70,195
Core services funding
-
72,066
1,476
142,261
Donations and gifts
Halifax Founation
-
-
DEEDs donations
-
5,016
The National Lottery
Community Fund -
Dormant Accounts Fund
-
35,243
Co-operative Ireland
-
-
WHSCT
-
-
Big Lottery Fund
-
18,736
Hunter Smyth Fund
-
10,000
Belfast Charitable
Society
-
1,200
Other
1,476
-
1,476
70,195
Core services funding
PHA
-
72,066
-
72,066		 Total
Unrestricted
Restricted
funds
funds
2023
2022
2022
£
£
£
71,671
35,010
28,847
72,066
-
69,573
143,737
35,010
98,420
-
-
5,000
5,016
-
3,470
35,243
-
17,622
-
-
2,255
-
-
500
18,736
-
-
10,000
-
-
1,200
-
-
1,476
35,010
-
71,671
35,010
28,847
72,066
-
69,573
72,066
-
69,573		 Total
2022
£
63,857
69,573
133,430
5,000
3,470
17,622
2,255
500
-
-
-
35,010
63,857
69,573
69,573

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

4 Charitable activities

Operation of
Operation of
a healthy
a healthy
living centre living centre
2023 2022
£ £
Programme facilitation 53,256 28,432
Services provided under contract 171,869 326,633
Grant funding 552,242 279,277
Rental income 65,614 76,419
Class fees income 9,823 9,717
852,804 720,478
Analysis by fund
Unrestricted funds 128,693 114,568
Restricted funds 724,111 605,910
852,804 720,478
Analysis of grant funding
Big Lottery Fund - DEEDS Phase 1 112,044 23,301
Big Lottery Fund - DEEDS Phase 2 175,120 -
Department for Communities 117,035 62,889
WHSCT 46,785 52,262
STOP/Horizon 9,119 31,355
British Heart Foundation - 22,050
Springboard Opportunities 14-Now - 16,386
Derry City and Strabane District Council 7,384 22,295
SafeFood 54,833 43,859
CLEAR 4,920 4,880
Arts Council Northern Ireland 7,067 -
Community Foundation Keadue Fund 9,600 -
Other 8,335 -
552,242 279,277
5 Other income
Unrestricted Total
funds
2023 2022
£ £
Insurance claim 18,772 -

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

6 Charitable activities

Operation of Operation of
a healthy a healthy
living centre living centre
2023 2022
£ £
Staff costs 455,297 374,363
Depreciation and impairment 62,721 52,885
Travel and subsistence 2,528 3,328
Rates 1,613 1,572
Insurance 8,659 7,667
Power, heat and light 48,459 44,686
Repairs and maintenance 35,939 20,066
Printing, postage and stationery 6,231 3,503
Programme costs 257,132 220,691
Advertising 7,619 3,879
Telephone 6,785 7,507
Legal and professional fees 11,714 1,379
Audit and accountancy 5,289 4,000
Bank fees 399 372
General expenses 17,431 33,621
927,816 779,519
Analysis by fund
Unrestricted funds 75,670 82,963
Restricted funds 852,146 696,556
927,816 779,519

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
15 13

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

8
Employees
Employment costs
Wages and salaries
Social security costs
Other pension costs		 (Continued)
2023
2022
£
£
406,022
339,753
40,336
26,975
8,939
7,635
455,297
374,363		 (Continued)
2023
2022
£
£
406,022
339,753
40,336
26,975
8,939
7,635
455,297
374,363
374,363

There were no employees with emoluments in excess of £60,000.

9 Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

10 Tangible fixed assets

Cost
At 1 April 2022
Additions
At 31 March 2023
Depreciation and impairment
At 1 April 2022
Depreciation charged in the year
At 31 March 2023
Carrying amount
At 31 March 2023
At 31 March 2022
11
Debtors
Amounts falling due within one year:
Other debtors		 Leasehold
land and
buildings
Fixtures and
fittings
£
£
2,092,009
209,869
-
39,392
2,092,009
249,261
511,854
190,047
41,840
20,881
553,694
210,928
1,538,315
38,333
1,580,155
19,822
2023
£
157,882		 Total
£
2,301,878
39,392
2,341,270
701,901
62,721
764,622
1,576,648
1,599,977
2022
£
100,478

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

12 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Trade creditors
Other creditors
Accruals		 2023
£
6,068
13,292
23,559
42,919		 2022
£
21,923
5,444
18,045
45,412

13 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £8,939 (2022 - £7,635).

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14 Restricted funds

The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:

Movement in funds Movement in funds Movement in funds Movement in funds
Balance at Incoming Resources Transfers Balance at Incoming Resources Transfers Balance at
1 April 2021 resources expended 1 April 2022 resources expended 31 March 2023
£ £ £ £ £ £ £ £ £
Building Fund 1,447,379 - (41,840) - 1,405,539 - (41,840) - 1,363,699
Café Refurbishment Fund - - - - - 11,200 (2,800) - 8,400
The Executive Office - Communities in
Transition 70,485 326,633 (284,758) (88,802) 23,558 171,869 (195,427) - -
Big Lottery Fund - DEEDS Phase 1 78,048 23,301 (46,157) - 55,192 112,044 (60,807) (74,612) 31,817
Big Lottery Fund - DEEDS Phase 2 - - - - - 175,120 (95,803) - 79,317
Big Lottery Fund - In Year Pressures - - - - - 18,736 (18,736) - -
Big Lottery Fund - COVID Support 183 - (183) - - - - - -
Department for Communities - 62,889 (62,889) - - 88,082 (88,082) - -
Department for Communities - EPPOC - - - - - 28,953 (28,953) - -
Department for Communities - HLA Winter
Packs 846 - (846) - - - - - -
Department for Communities - Warm Well
Connected 2,741 - (2,741) - - - - - -
Department for Communities - Transform
Your Trolley 7,937 - (7,937) - - - - - -
Department for Communities - Carers
Collective 7,513 - (7,513) - - - - - -
PHA - 69,573 (69,573) - - 72,066 (72,066) - -
WHSCT - Family First Hub 13,059 52,263 (40,162) - 25,160 46,785 (52,869) - 19,076

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14 Restricted funds

(Continued)

Balance at
1 April 2021
£
BBC Children in Need
23,428
BUPA
8,781
Springboard Opportunities 14-NOW Initiative
8,342
Derry City & Strabane District Council
-
SafeFood - Transform Your Trolley
9,406
British Heart Foundation
5,473
STOP/Horizon
-
The National Lottery Community Fund -
Dormant Accounts Fund
-
Halifax Foundation
-
St. Mary's Youth Club
10,800
SafeFood - Community Food Initiative
-
CLEAR Small Grants
-
Arts Council Northern Ireland
-
Community Foundation Keadue Fund
-
Other COVID support
54
Other restricted funds
6,364
1,700,839		 Movement in funds
Incoming
resources
Resources
expended
Transfers
Balance at
1 April 2022
£
£
£
£
-
(6,494)
-
16,934
-
(6,006)
-
2,775
16,386
(24,728)
-
-
22,295
(22,295)
-
-
36,220
(3,486)
(15,000)
27,140
22,050
(27,523)
-
-
31,355
(31,355)
-
-
17,622
(17,622)
-
-
5,000
(5,000)
-
-
-
(4,325)
-
6,475
7,639
(7,639)
-
-
4,880
(4,880)
-
-
-
-
-
-
-
-
-
-
-
(54)
-
-
6,224
(12,390)
(198)
-
704,330
(696,556)
(104,000)
1,604,613		 Movement in funds
Incoming
resources
Resources
expended
Transfers
31
£
£
£
-
(16,934)
-
-
-
(2,775)
-
-
-
7,384
(7,384)
-
47,218
(42,793)
127
-
-
-
9,119
(9,119)
-
35,243
(35,243)
-
-
-
-
-
(6,475)
-
7,615
(2,910)
-
4,920
(4,420)
-
7,067
(4,694)
-
9,600
(9,600)
-
-
-
-
13,351
(13,351)
-
866,372
(926,758)
(77,260)		 Balance at
March 2023
£
-
-
-
-
31,692
-
-
-
-
-
4,705
500
2,373
-
-
-
1,541,579

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

14 Restricted funds

(Continued)

Details of material restricted funds

The Executive Office - The organisation was awarded the Communities in Transition Health and wellbeing tender for Creggan and the Brandywell for the roll out of a community wide health and wellbeing project that includes core elements such as volunteering, mentoring and the promotion of community health and wellbeing services.

The Public Health Agency continue to contribute to the core salaried posts of the organisation to enable health and wellbeing activities to be made available to the local community. In addition to this the PHA supports the role out of the CLEAR projects for improvements in Mental health and wellbeing.

The Big Lottery fund / The National Lottery Community Fund - DEEDS – The National lottery community fund supports the organisations delivery of essential Dementia related programmes and services across the Derry City & Strabane district Council area financing the DEEDS project until September 2022 with an extension year included in this due to the impact of COVID 19. An additional award was also offered to assist those most vulnerable during COVID in the form of support & hampers.

The Dept for Communities continue to contribute to the core costs & caretaker post of the organisation to enable health and wellbeing activities to be made available to the local community. The department also supported the Healthy Living Centre Alliance warm well & connected initiative of which the Old Library Trust coordinated and delivered a series of programmes and services to local people across the Western Trust area. Additional capital funding secured enabled the organisation to create additional space and a changing room upgrade within the healthy living centre.

The Western Health & Social Care Trust continue to contribute to the core salaried Family Support Hub post of the organisation to enable families in crisis within the local area to be supported in a wide variety of ways.

The BBC Children in Need continue to contribute to the delivery of the Alpha Project to support children within the local community to achieve the best possible health and wellbeing outcomes both within the school and community setting.

Springboard NI continue to administer and support the contribution from the Spirit of 2012 Fund for the delivery of the Long Term condition management programme to enable health and wellbeing activities to be made available to the local community.

STOP/Horizon - The STOP consortium continue to contribute to development of the SWEET APP & associated salaried posts of the organisation to enable the development of a family centres obesity prevention app for parents with children under 5 years of age.

SafeFood - The organisation through the healthy living centre alliance planned and delivered a regional wide Family nutrition support programme funded by Safefood.

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2023

14 Restricted funds

(Continued)

The National Lottery Community Fund - Dormant Accounts Fund supports the organisation to be more resilient and prepared for the future by funding activity that increases capacity and sustainability. The programme supports the organisations to adapt to future challenges and be more financially resilient. In this case supporting core costs associated with the employment of a Programme Manager.

BUPA foundation UK – Funding secured from BUPA enabled the organisation to support Carers specifically during their challenging times.

Bernardo’s seasonal appeal – Bernardo’s kindly donated funding to support local families in crisis at Christmas. This funding was allocated to those in most need across the community.

British Heart Foundation- The BHF invested funding into the role out of a community blood pressure testing initiative to help support people living with high blood pressure. This funding supported the core staff and the role out of the programme with resources.

Derry City & Strabane District Council – Local Council funding supports the general running and core costs of the healthy living centre as a community venue as part of the Community centre venue fund.

Halifax Foundation – Halifax supported the organisations admin and finance function with a contribution to core costs over this period.

St. Marys Youth Club – Family support programmes and services are vital to all organisations across the area and St. Marys youth club supported the organisations family support hub with funding to assist with Counselling and therapeutic intervention for local children and parents.

THE OLD LIBRARY TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023

15
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2023
2023
£
£
Fund balances at 31
March 2023 are
represented by:
Tangible assets
123,553
1,453,095
Current assets/(liabilities)
349,318
88,484
472,871
1,541,579		 Total
Unrestricted
funds
2023
2022
£
£
1,576,648
113,442
437,802
208,898
2,014,450
322,340		 Restricted
funds
2022
£
1,486,535
118,078
1,604,613		 Total
2022
£
1,599,977
326,976
1,926,953

16 Transfers between funds

There has been net transfers between funds of £77,260 from restricted funds to unrestricted general funds which represents general core funding allowed by funders which is being released to unrestricted reserves.

17 Financial commitments, guarantees and contingent liabilities

Certain grants received and receivable may become repayable to the funder if the charity is no longer able to meet the conditions under which they were awarded. Due to the nature of these contingencies, it may not be possible to quantify the potential financial effect or give an indication of the timing as to the liabilities that may arise.

18 Related party transactions

Remuneration of key management personnel

The remuneration of key management personnel is as follows.

Aggregate compensation
19
Cash generated from operations
Surplus for the year
Adjustments for:
Depreciation and impairment of tangible fixed assets
Movements in working capital:
(Increase) in debtors
(Decrease)/increase in creditors
Cash generated from operations		 2023
£
140,018
2023
£
87,497
62,721
(57,404)
(2,493)
90,321		 2022
£
126,354
2022
£
74,389
52,885
(61,788)
11,552
77,038

20 Analysis of changes in net funds

The charity had no debt during the year.