COMPANY REGISTRATION NUMBER: NI 038841 CHARITY REGISTRATION NUMBER: XR34864 Drumcree Community Trust Company Limited by Guarantee Unaudited Financial Statements 31 December 2017 KELLY & O'NEILL LTD Chartered Accounlants & Registered Auditors 15E Molesworth Street Cookstown Co. Tyrone BT80 8NX
Drumcree Community Trust Company Limited by Guarantee Financial Statements Year ended 31 December 2017 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) statement of financial position Notes to the financial statements 10-19 The following pages do not form part of the financial Statements Detailed statement of financial activities 21-22 Notes to the detailed statement of financial activities 23
Drumcree Community Trust Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 December 2017 The Iruslees. who are also the directors foi the purposes of company law, present their report and the unaydiled financial statements of the chafily for the year ended 31 December 2017. Reference and admlnlstratSve detalls Reglstered charity name Drumciee CDmmunily Trust Charlty registration number XR34864 Company registration number Nl 038841 Principal office and registerèd 3 Ashgrove Road offlce Portadown Co. Armagh BT62 1PA Trustees Michael Bingham IChairperson} Colelle Mercer {Secrelaryl Bieandan Mac Cionnailh Brian G McKeown (Treasurer) Ciaran Tènnyson Independent examlngr Calhal O'Neill IFCA) Kelly & O'Neill Ltd Chartered Accounlanls & Registered Auditors 15E Molesworth Street Cookslown Co. Tyrone BT80 8NX Bank Bank of Ireland 43 High Street Portadown BT62 IHY Stru¢ture* governance and management The Board of Trustees c8n only appoint new Trustees. A motion musl be pul forward by one Trustee and a show of hands delermines if the majority agrees. The charity is a charitable company limited by guarantee and was in¢orporaled on 28 February 1991. It is governed by a memorandum of association. Thè chari12ble Company's registration numbei is N1038841 and ils registered Offi is 3 Ashgrove Road, Portadown. Co Armagh, B T62 1 PA. The company is approved as a charity under the terms of the Income and Corporation Taxes Act 1988 and the Charity Number is XR34864. On 2 September 2015 the charitable con7pany registered with The Charity Commission for Northern Ireland and ils NIC number 1$ 103171.
Drumcree Community Trust Company Limited by Guarantee Trustees, Annual Report Ilncorporatlng the Director's Report) (conNnuedJ Year ended 31 December 2017 Structure, governance and management (COnne) Partnership Worklng Drumcree Community Trust is a member organisalion. with two representatives, of the Verve Network which is a partnership of community organisalions and thè Southern Health and Social Care Trust operating across Brownlow, Lurgan and Portadown. Along with Drumcree Community Trust, the other member organisalions are Craigavon Inleicullural Progfamme, Drumellan Community Organisation, Edgarstown Residents Association, Shankhill (Lurganl Community Projects. Taghnevan Community Development Association and Fitzone Foundation. Each of the organisalions have established and developed Ihemselves as Healthy Living Cenlres and are part of the Healthy Living Cenlrès Alliance which extends across several areas of the North. Drumcree Community Trust has two represenlalives on the North West Portadowrt Neighbourhood Renewal Paflnership. They work alongside other communily groups on the Partnership including Churchill ParklGardens Tenants, Association. Woodside Residents Association, Obins DrivelAvenue Association and Edgarstown Communily Assocli0n. The Department for Communities, the Education Authority, Southern Health and Social Care Trust, Housing Executive, Southern Regional College and Armagh, Banbridge & Craigavon Council are also represented on the Partnership. The Neighbourhood Renewal Partnership aims to bring together the work of government departments in partnership wilh local people to tackle disadvantage and deprivation in all aspects of everyday life. Each year, il has an annual budget lo bring forward proposals and projects which mal¢h that aim. The Youth Support Worker and Health Worker represent Drumcree Community Trust on the North Wesl Portadown Netwoik body, which manages two external community facilities, the Darby & Joan Club and the mulli-use games aTea IMUGA). As well as allending regular meetings, they are also responsible for helping lo organise the MUGA programme for children and adults. Drumcree Community Trust is represented on the management committee of Blossom Sure Start, an initiative to support all pregnant women and families who have a preschool child or children 10-4 years) and who live in the Portadown area. Sure Start is a goveinment led initiative offering a rarige of services lo families with preschool children lo help them reach their full potential and is aimed al giving every child the best possible start in life. Suie Slart works in partnership with slalulory. voluntary and community sectors and parents lo promote the physical, intellectual and social development of babies and young Children. Objectlves and activitie8 The main charitable objedives of Dfumcree Community Trust are the advancement of ClIZenship or community developmenl,- Ihe advancement of education., the advancement ol heallh or the saving of lives- the prevention or relief of poverty and the lief of those In neecl by reason of youth, age, ill-heallh, disability, financial hardship or other disadvanlage.
Drumcree Community Trust Company Limited by Guarantee Trusteos, Annual Report (Incorporating the Dlre¢tor's Report) {¢ohtl#uedl Year ended 31 December 2017 ObJectlves and acllvltl*s (conrfnued) Actlvltlas Durlng 2017, Drumcree CommunSly Trust's staff and volunteers havo dellvared a wlde rangg of programmes. activities and events lo our local community aimed at addresslng a variety of needs within the 8rea. Once agaln, a large number chlldren. young people and adults directly benefilled from partlclpalion in th8 varlous acllvilles. programmes. events and classe8 organlsed through Drumcreo Commurkity Centra and Diumcree House of H@alth.Tha work unc16rtaken by our staff team was assisted and slrenglhen8d by our volunteer base and we appreciate the conlribvtion whlch our volunteers conllnue to make towar(Ss our work wllhSn the communlty. The three cen(-base groups for children aged from 2yrs and 10 months up lo the age of seven years CDnlinued to operate and during 2017, a number of joint parents, & children's evenls were organlsed Including= cookery sessions, slay and play sessions, and famlly day Irlps. Late afternoons and evenings were set aside for young people aged from the primary 3 age groups right through lo secondary school-age an(i oldor. Again attendance al Ihase sesslons has continued to remain constant with regular activities Includlng arts and crafts.. mulll-g&mes- cookery workshops. compellllv8 gam¢8' movie nights; anti-bullying programmes- project and small group work. Ext8rnal coaches were also engaged by the Tiusl lo dellver fllness and stamlna tests lo make young more aware lo the need lo engage In regular physical activS1ies. In addition, thanks to thg Youth Engagement Programmes funded through NRISELBIEA, a number of intensive personal development courses for 45 young people aged 11-19 years old were organised. Elements ot those programmes included a resldenlial to the Share Cenlre, volun18ering and mentoring opporlunllles,. leadership and personal development training,. health workshops. 1118 skills courses. menlal health Issuès., drugs & alcohol awareness sessions; 10 week slress management progiamme, mlndfulness workshops, young people's pamper sessions, young people's health event, and trips to a number of leisure Full programmes Of aclivi11gs were organised for JulylAugust 2017 with mornlng. afternoon arbd evgnlng sesslons. On average, over 300 childrenlyoung people of all age groups bengfilted from these aclivlliès and the programme was supported by 20 adult volunl8ers, 14 young volunteers and 8 Junior leadgrs. Youth Intervention funding allowed Drumcree Communily Trust lo deliver additional programmes for 100+ familles as well as a separate proorammg focused on 75 young pgoplo ageé between 10 and 19 years.. activities includgd cinoma trip, famlly day trips to Bundoran, N$wcasll8tFullymore forest and Kilbroney. 'Keeping safe, workshops. drug and akohol awaroness workshops and teenBge trips lo the Mill and Jungle Nl. Acllve Klds week provided a week Df actlvllles for 20 young peoplg (age 8-14yr81 including beach walk at Murlough beach, fundam8nlal skills Iralnlng, and sports taster sesslons. Incluslon project 40 children and young peopl8 (aged 4-19yis old} took part in the project over an elghl month pariod. Actlvltle8 Included club sesslons, drama and movement sessions, singlng sessions, nursery rhyme and storytelling sessions and trlps Included Todds Leap ovornlghl slay, 2 trips to the Ihealre, funhous8 In Newry and Cralgavon skl slopes. Thls prolgct promoted filendshlp. incluslon, acceptance and understanding wllh 8 focus en oble-bodled participanls and the chlldrenlyoung people with speclal needs worklng together and bullding r8lallon8hlpg. Training- Included first ald tralnlng for childron and young p80ple18.17yrs old), Autism awareness
Drumcree Community Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) {confflnu8dJ Year ended 31 December 2017 Objectives and activities fconllnuedj training. Disabilily awareness training, Safeguarding training. Inlergenerational Project - this 6 week project with Bubbles and Rosemounl care home involved our pre-school group going lo the home for play sessions, nursery rhymes, dance and singin9 sessions with the residents. most of whom suffer from dementia. The residents also came lo the centre for a celebratory event. Much of our WOTk with adults involved activities aimed al promoting beller and heallhier lifestyles. Our main funder lor this was SH&SCT which also funded our health related work with young people. During 2017, we organised regular fitness classes, personal development programme5, stress reduction classes, mental health workshops, complementary therapy session5, yoga classes, elc. All these activities were delivered throughout Ihe year and meant that many local residents could lake advantage of health promolionlheallh advisory services held in an environment where they feel prote¢led and in which they can feel a genuine part of. Chair yoga average allendance 20+ lage range 41-93 years old). This ongoing activity included a social element after each session where a light lunch was provided. People of all ages and abilities allend and benefit from these sessions including those with severe mobilily reslriclions, cancer S&V0[$, people with breathing difficulties. persons suffering from depression and social anxiety. and those with long term illnesses and dementia. SPUDS programme (Specific practical ultimate de-slressl - this was delivered over a three month period and included group-based workshops ranging from relaxation. laughter yoga, singing, dancing. medilalion, and crafts. Allendance varied heeen 18-32 women per session. Our women's group, parents & toddlers group and our young parents, group also continued to meet weekly. A second parents & toddlers group was also meeting each Friday. The weekly cft)chel class on Wednesday evenings continues to prove popular with a very good attendance. This is as much of a socia1 evening as well as a craft cSass for women of all ages and run by volunleefs. There were also three separate and very well-allended adult exercise classes in the community centre each week-, bNO on Tuesday evenings and the third on Friday evenings. Through this comprehensive provision, Orumcree Communily Trusl contributes to the well-being and personal development of many people ol all ages within our community. Strateglc report The following sections for achievements 2nd performan¢e and financial review form the strategic report of the charity. Achlevemonts and porformance The charity succeeded in piomotin9 the interests of the inhabilanls of Portadown. We have desGribe(f the perforfflance of the charity in further detail in Ihe Activities Section.
Drumcree Community Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report} (conllnued) Year ended 31 December 2017 Aehlevements and performance (contlnue Economle Development Drumcree Community Trust is involved in local economic development and employment creation in the communily through representation on Ihe Board ol Mayfair Business Cenlre, a social economy enlerprige, which houses a total of Iwenty five bLt5inesses. providing betsveen them over 120 full and part-lime jobs lo local people. Through the various businesses located al Mayfair, it is estimated that well in excess of two million pounds is contributed annually into the economy of the local community through wages, rates, elo_ The impact of this achievement by the local community lo create, develop and Sustain this economic development project is ollen underestimated and overlooked. By providing business development, job creation and employment opportunities, Mayfair is making a positive contribution lo the lives of the families and households of those employed by the vaiious businesses on site. Public Beneflt statement Drumcree Community Trust's activities are designed lo ensure contribulion lo the achievement of ils charitable objectives. The Trustees believè that the charitable company provides a public benefit and meets the charitable PUfPO8e 28 laid down in The Charities Act INI) 2008113. Drumcree Community Trust aims lo help.. Addition Idruglsolvenualcohol abuse).. Adult Iraining-, Carers., Children 15-13 year old51," General public.. Interface communities,. Men.. Mental health.. Older people,. Parents; Preschool 10-5 year oldsl-, Specific areas of deprivation., Unemployedllow income., Voluntary and community sector.. Volunteers- Women. Youlh114-25 year olds). We have revièwed The Charity Commission for Northern Ireland guidance on public b8nefil and can confifm that we believe that we have satisfied the public benefit requirement. Financial review Reserves Policy The Trustees have examined the charity's requirements lor reserves and consider the current level lo exceed the requirements lo continue operation throughout the 2018 financial year. The current level of reserves available lo thè eharily 18 £381,575. This provides sufficient funds lo cover charitable expenditure, support costs and goveinance costs.
Drumcree Community Trust Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report} (continuerll Year ended 31 December 2017 Trustèes. responsiblllties The Iruslees. who are also directors for the purposes of company law, are responsible for preparing the Iiuslees. report and the financi21 statements in accordance with applicable law and United Kingdom Accounting Standafds (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity Iruslees lo prepare financial statements for each year which give a Irue and fair view of the slate ol affairs of the charitable company and the incoming resources and applicalior) of resources, includino Ihe income and expenditure, for that period. In preparing these financial statements, the Iruslees are requifed lo.. select suitable accounting policies and then apply them consistently.. observe the methods and principles in the applicable Charities SORP-, make judgments and accounting estimate$ that ale reasonable and prudent., slate whether applicable UK Accounting Standards have been followed, subject lo any material departures disclosed and explained in the ftnancial statements.. prepare the financial slalemenls Dn the goin9 concern basis unless il is inappTopriale lo presume that the charity will continue in business. The Iru5tee5 are responsible lor keeping adequale accounting records that 2re sufficient to show and explain the charity's Iran$8¢1ions and disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure Ihat the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguaiding the assets of the charity and hence for taking reasonablè steps for the prevention and detection of fraud and olher irfegularilies_ Dlsclosure of informatlon to the Independent Examiner We, the directors of the company who held office at the date of approval of these Financial Slalements as set out above each confirm. so far as we are aware, that.. there is no relevant infomialion of which the company'g Independent Examiner is unaware.. and we have taken all the steps that we ought lo have taken as directors in order to make ourselve5 aware of any relevant information and lo establish that the company's Independent Examiner is awa of that information. The trustees, annual rewrt and the strategic report were approved on 25 September 2018 and signed on behall of the board of Iruslee5 by.. IK4 Colette Mercer Iseeretaryl Trustee Breandan Mac Clonnaith Truste8
Drumcree Community Trust Company Limited by Guarantee Independent Examiner's Report to the Trust808 of Drumcree Community Trust Year ended 31 December 2017 I report lo the Iruslees on my examination of the financial slalemenls of Drumcree Community Trnst {'Ihe charily'l for the year ended 31 December 2017. Responsibllitles and basis of report As the Irusleès of the company land also its directors for the purposes of company lawl you are responsible for the preparation ol the financial statements in accordance with the requirements Of Charities Act {Northem Ireland) 2008 (Ihe '2008 Acl'l and the Companies Act 2006 ('Ihe 2006 Acl'}. You are satisfied Ihal the accounts of the compatiy are not required by charity or company law to be audited and have chosen instead lo have an independent examination. Having satisfied myself that the accounts of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect ol my examination of the charity's Financial slalements as cafried out under se¢lion 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charily Commission for Norlhem Ireland under section 6519)(bl of the 2008 Act. Independent examlner's slatèmènt I have completed my examination. I confirm that no mallers have come lo my attention in connection wilh my examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charily as required by section 386 of the 2006 A¢l- or the financial 51alements do not aecord with those records., or the financial slatemenls do not coniply 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 a maller considered as part of an independent examitialion.. or the financial slalements have not been prepared in accordance with the methods and piinciples of the Slalement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Slandaid applicable in Ihe UK and Republic of Iieland (FRS 102). I confirm that there are no other mallers lo which your attention should be drawn lo enable a proper understanding of the accounts to be reached. Cathal O'Nelll IFCA) Independent Examlner Kelly & O'Neill Ltd Chartered Accountants & Registered Auditors 15E Molesworth Slfeet Cookslown Co. Tyrone BT80 8NX
Drumcree Community Trust Company Limited by Guarantee statement of Financial Activities (including income and expenditure account) Year ended 31 December 2017 2017 Reslricled Endowment funds funds Total funds 2016 Unrestricted funds Total funds Not& Income and endowment8 Donations and legacies Other trading activities Olhei iEicome 5,381 1481 4,567 79,923 85,305 1481 4,567 96,321 3.099 6.805 Total income 9,900 79.923 89.824 106,225 Expenditure Expenditure on charitable activities 20,603 20,603 79,923 79,923 9,285 9,285 109,812 109.812 116,484 116,484 Total expèndlture Net expenditure and net movement in funds {10,7031 19.2851 (19.9881 {10.259} Re¢onciltation of funds Total funds brought forward Total funds carried forward (3,9101 114,6131 405,473 398,188 401,S63 381,575 411,824 401,565 The slalemenl of financial activities inclucles all gair¢s and losses recognised in the year. All income and expendilufe derive From continuing aclivilies. The notes on pagès 10 to 19 form part ot thes8 finaneial stattmènts.
Drumcree Community Trust Company Limited by Guarantee ststement of Financial Position 31 December 2017 2017 2016 Note Flxed assets Tangible fixed assèts 14 417,401 427,687 Current assets Stocks Debtors Cash at bank and in hand 15 16 48 7,184 17,175 24,407 18,586 18.586 Creditors: amounts falling due within onè year Net current liabllltlès 17 54.412 50.529 26,122 35,826 381,575 Total assets less eurrent liabllitl8s 401,565 Net assets 381,575 401,565 Funds of thè charity Endowment funds Unreslricled funds 396. 188 (14,6131 381,575 405,475 13,9101 401.565 Total Gharlty funds 18 For the ye3r ending 31 December 2017 Ihe charity was entitled lo exen7ption from audit under section 477 of the Companiès Acl 2006 relating lo small companies. Difectors, responsibilities.. The members have not required the company lo obtain an audit of its financial slalemenls for the year in question in accordance with section 476., The directors acknowledge their iesEX)nsibililies for complying with the requirements of the A¢1 with respect lo accounting records and the preparation of financial slatemenls. These linancial slalements have been prepared in accordance with the provisions applicable lo companies subject lo the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 25 Seplember 2018, and are signed on behalf of the board by: likE Coletle Mercer {Secretaryl Trustee Breandan Mac Cionnaith Trusteè The notès on pages 10 to 19 form part of these financial $tal&ments.
Drumcree Community Trust Company Llmited by Guarantee Notes to the Financial Statements Year ended 31 December 2017 General informatlon The charity is a public benelil entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address ol the registered oflice is 3 Ashgrove RDad, Portadown. Co. Armagh, 8T62 1PA. statèmÈnl of compllance These financial statements have been prepared in compliance wilh FRS 102, 'The Financial Reporting Standard applicable in thè UK and the Republic of Irelancl,, the Slalement of Recommended Piaolice applicable lo chaiilies preparing their accounts in accordance with the Financial Repotting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP (FRS 1021) and the Companiè8 Act 2006. Accounling policies Basls of prgparation The financial stalemenls have been prepared on the historical cost basis, as modilied by the revaluation of certain financial assets and liabilities and investment properties measured al fair value through income or expendilufe. The financial stalemenls are prepared in sterling, which is the fvnclional currency of the entity. Golng concern There are no material uncertainties about the charitS ability lo continue. Disclosurg exemptlons The Trustees have taken advantage of the small companies, regime exemption from the requirement to prepare a cash flow slaletnenl. Judgements and key sources of estlmatlon uncertalnly The preparation of the financial statements in accordance with generally accepted accounting principles requires management lo make eslimales, judgements and assumptions that affect the reported amounts of assets and liabilities and income and expenditure in the reporting period. Actual results could diller from those eslimales. Impairment of Fixed Assets The Trust's property. plant and equipment are slated at cost less accumulated depreciation. The assets are depreciated over their e81imaled useful economic lives. The carrying values of such assets are ieviewed annual for any indications of impairment. Tax The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore il meets the definilion of a charitable Company for UK corporation lax PUfpose5. 10
Drumcree Community Trust Company Llmlted by Guarantee Notes to the Financial Ststements fconllnued? Year ended 31 December 2017 Accounting poll¢les {continuedJ Fund accounting Unrestricted funds ale available for use al the discretion of the Iruslees lo further any of the charity's purposes. Designated funds are unreslricled funds earmarked by the trustees for particular fltlure project or commitment. Resltloted funds are subjeoted to restrictions on their expenditure d¢dared by the donor or through the terms of an appeal, and fall into one ol two sub-classes.. reslri¢ted income funds or endowment funds. Endowment lunds represent those assets which must be held permanently by the charity, prirbcipally the building. Income arising on the endowmènt funds can be used in accordance with the objects of the charity and is in¢luded as unresliicted income. Incoming resources All incoming resources are included in the slalemer¢l of financial activities when entitlement has passed to the charity,. il is probable that the economic benelils associated with Ihe transaction will flow lo the charily and the amount can be reliably measured. The following specific policies are applied lo particular categories of incotne- income from donations or grants is recognised when there is evidence of entillemenl to the gift, receipt is probable and ils amount can be measured ieliably. legacy income is recognised when receipt is probable and entillemenl is established. income from donaled goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the esiimated resale value. Donated facilities and services are recognised in the accounts when reeeived if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised wilh the delivery ol the conlfacled service. This is classified as unrestricled funds unless there is a conlraclual requiremenl for il lo be spent on a particular purpose and returned if unspent, in which case it may be regarded as restiicled. 11
Drumcree Community Trust Company Llmited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 December 2017 Accounting policles (¢ontinoTed) Rèsources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities lo which il relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charilable trading acltvilies. and the sale of donated goods. expenditure on Charitable activities includes all costs incurred by a charity in undertaking aclivilies that further ils charitable aims for the benefit of its beneficiaries. including those support costs and costs relating lo the governance of the charity apportioned to cha(ilable aclivilies. other expenditure includes all expenditure that is neither related lo raising funds for the ¢harily nor part ol ils expenditure on chaiilable activities. All costs are allocated to expendilufe calegorles reflecting the use of the resource. Direct costs allribulable lo a single activity are allocated directly lo that aclivily. Shared costs are apportioned between the activities they contribute to on a reasonable, jusliFiable and consislenl basis. Tangible assets Tangible assets are initially recorded al cosl, and subsequently slated al cost less any attcumulated depreciation and impairment losses. Any langible assets carried al revalued amounts are recorded al the fair value at the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a resull of a ValUatIon. is recognised in olhef recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial aclivilies. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except lo which il 0118els any previous revaluation gain. in which case the loss is shown within other recognised gains and losses on the statement of financial aclivilies. Depreciation Depreciation 15 calculated so as to write off the cost or valuation of an asset, less ils residual value, over the useful economic life of that asset as follows- Freehold property Renovations Fixtures and fillings Capital Grants 20k straight line 20A straight line 100h reducing balance 100/D reducing balance 12
Drumcree Community Trust Company Limited by Guarantee Note5 to the Financial Statements (contlnued) Year ended 31 December 2017 Accountlng poliGie$ {contlnued} Impalmient of fixed assets A ieview for indicators of impaifment is carried out at each rep)rting dale, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairmen15 are also reviewed for possible reversal al each reporting dale. For thè purposes ol impairment lesling, when it is not possible lo estimate the recoverable amount of an individual asset, an estimate is madè of the recoverable amount of the cash-generaling unil lo which the asset belongs. The cash-generating unil is the smallest iLlenlifiable group of assets Ihat includes the asset and generates cash inflows that largely independent ol the cash inflows from olher assets or groups of assets. For impairment testing Df goodwill, the goodwill acquired in a business combination is, from the acquisition dale, allocated lo each of the cash-generaling units that ale expected lo benefil from the synergies of the combination, irrespective of whether olher assets or liabilities ol Ihe ¢harity are assigned lo Ih05e units. Stocks Stocks are measured al the lower ol cost and eslimaled selling price less costs lo complete and sell. Cost includes all cos15 of purchase, costs of conversion and olhei Go$ts incurred in bringing Ihe stock lo ils presenl localion and con(Jilion. Flnanclal Instruments A financial asset or a financial liability Is recognised only when the charity becomes a party lo the conlractual provisions ol the inslrumenl. 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 al the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measurecl at amortised cost. Where investments in shaS are publicly Iraded 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 expendilure. All other such investments are subsequenlly measured al cost less impairment. Other financial inslrumenls, including derivatives. are initially recognised al fair value, unless payment for an asset is deferred beyond normal busines5 terms or financed at a rale ol interest that is not a market rate, in which case the asset is measured al the present value ol the future payments discounled al a market rate of interest for a similar debt inslrumenl. 13
Drumcree Community Trust Company Llmlted by Guarantee Notes to the Financial Statements (conllnuetl) Year ended 31 December 2017 Accounting poliGles (¢onfinued} Financial instruments (¢on¢lrtuedl Other linancial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial aclivilies. with the exception of hedging inslrumenis in a designated hedging relationship. Financial assets that are measured al cost or amortised cost arg reviewed for objective evidence of impairment al the end of each reporting date. If there is objective evidence of impairmenl, an impairment loss is recognised under the apprDpriale heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless ol significance, and other financial assets that are individu211y significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk chafaclerislics. Any ieversals of impairment are iecognised immediately, to the extent that the reversal does not fesult in a carrying amount of the financial assel that exceeds what Ihe carrying amount would have been had the impairment not previously been recognised. Llmitad by guarantee The company is limited by guarantee and has no share capital. Every member of the company undertakes lo contribute to Ihe a55els of the company in the event of a winding up. In the fesult of such an event, the liability of each member will nol exceed £1. Donations and legaclès Unreslricled Funds Reslricled Endowmenl Total Funds Funds Funds 2017 t)onations Donations 2,881 2.881 Grants DSD Health and Social Services Grant Sureslart Grant SELB SELB NR Clear Grant Henry Smyth Charity Grant 29,593 18,069 16,937 7,924 5.300 2.100 29,593 18.069 19.438 7,924 5.300 2.100 2.500 5.381 79,923 85,305 Unrestficled Funds Reslficled Endowment TDlal Funds Funds Funds 2016 Donatlons Donations 1,310 1,310 14
Drumcree Community Trust Company Limited by Guarantee Notes to the Financial Statements (conflnuedl Year ended 31 December 2017 Donations and legacles (continued) Unrestricted Funds Restricted Endowment Total Fund5 Funds Funds 2016 Grant$ DSD Health and Social SerVis Grant Sureslarl Gianl SELB SELB NR Clear Grant Henry Smylh Charity Grant 9.819 9,819 30,805 26,439 13,693 14,255 30.805 26.439 2.300 14.255 11,393 12,703 73.799 9,819 96,321 othgr trading actlvities Unrestri¢led Total Funds Unrestrlcled Total Fund5 Funds 2017 Funds 2016 Fundraising events Shop income 3,056 43 3,056 43 1481 1481 1481 1481 3,099 3,099 other Income Unreslricle¢J Total Funds Unrestricted Total Funds Funds 2017 Funds 2016 Cabin Club Income Trip Income Rent Received 1,260 1,957 1,350 4,567 1,260 1.957 1,350 4.567 2,011 2,724 2,070 2,011 2,724 2,070 6,805 6,805 A more detailed breakdown of income is given in the management information se¢lion. 15
Drumcree Community Trust Company Limited by Guarantee Notes to the Financial Statements (coNRllnued) Year ended 31 December 2017 Expendlture on Gharitable activities by fund type Unreslricled Funds Reslricted Endowment Total Funds Funds Funds 2017 Direct Chaiitable Expenditure Suppott costs 4,528 16,075 20,603 35,461 44,462 79,923 39.989 69.823 9,285 9,285 109.812 Unreslricled Funds Reslricled Endowment Total Funds Funds Funds 2016 Direct Charitable Expenditure Support costs 25,275 9,721 11,837 61,962 37,112 79.372 7,689 34,996 73,799 7,689 116,484 Expenditure on charltable actlvltles by activily lype Activities undertaken directly Support costs Total funds 2017 Total fvnd 2016 Direcl Charitable Expendilu Governance costs 39.989 66.741 3.082 106,730 3,082 113.984 2.500 116,484 39,989 69.823 109,812 10. Net expendlture Net expenditure is staled after chargingl{credilingl-. 2017 2016 Depreciation of tangible fixed assets Loss on disposal of heritage assels 10,286 10.532 328 11. Independent examlnation fees 2017 2016 Fees payable to the independent examiner for. Independent examination of the financial statements 2,500 2.500 16
Drumcree Community Trust Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 31 December 2017 12. Staff costs The total staff costs and employee bènefits for the reporting period are anaSysed as follows= 2017 2016 Wages and salaries 44,461 56.464 The average head count of employees during the year was 6 {2016'. 71. The average number of lull-lime equivalent employees during the year is analysed as follows.. 2017 No. 2016 No. Number of staff - Charitable Activities No employee received employee benefits of more than £60,000 during the ye2r12016.' Nil). 13. Trustee remuneration and expenses The Trustees neilher received nor waived any remuneration during the year12016'. £nil}. 14. Tangible fixed assets Fixtures and fiitings Capital Grants Buildings Renovations Land Total Cost At1 Jan 2017 and 31 Dec 2017 470,194 28,197 3,000 36,866 148,9201 489,337 Depraclatlon Al 1 Jan 2017 Charge for the year At 31 D8c 2017 55,560 4.187 15,837 113,934) 61,650 9.285 564 2.103 11,666} 115,6001 10,286 64.845 4.751 17,940 71,936 Carrying amount At 31 De¢ 2017 405.349 23.446 3,000 3,000 18,926 (33,3201 (34,9861 417.401 At 31 Dec 2016 414.634 24,010 21,029 427,687 15. Stocks 2017 2016 Raw materials and consumables 48 17
Drumcree Community Trust Company Limited by Guarante Notes to the Financial Statements (contlnuerlj Year ended 31 December 2017 16. Debtors 2017 2016 Prepayments and accrued income 7.184 17. Credltofs: amounts falling due within one year 2017 2016 Bank loans and overdrafts Accruals and deferred income 18.993 35,419 17.611 32.918 54,412 50.529 18. Analysis of charitable funds Unrestricted funds At 31 December 2017 Al 1 January 2017 Income Expenditure Gener21 funds 13,9101 9,900 (20.6031 114.6131 Restricted funds At 31 December 2017 At 1 January 2017 Income Expenditure Restricted Funds 79.923 {79.9231 Endowment funds At 31 December 2017 Al 1 January 2017 Income Expenditure Permanent Endowfflenl Fund 1 Building Fund Permanent Endowment Fund 2- Original Building Fund 381,153 (9,285} 371,868 24.320 405,473 24.320 (9,285} 396.188 18
Drumcree Community Trust Company Limited by Guarantee Notes to the Financial Statements (contsytrutrdl Year ended 31 December 2017 19. Analysis of net assets belween funds Unfeslricled Endowment Total Funds Total Funds Funds Funds 2017 2016 Tangible fixed assets Current assets Creditors less than 1 year Net as5etS 9.052 18.586 154.412 126.7741 408,349 417.401 18,586 {54,412) 381,575 427,687 24,407 150,529) 401,565 408,349 19
Drumcree Community Trust Company Limited by Guarantee Management Information Year ended 31 December 2017 Thè following pages do not form part of the finan¢lal Statements. 20
Drumcree Community Trust Company Limited by Guarantee Detalled Statement of Financial Activities Year end8d 31 December 2017 2017 2016 Income and endowments Donatlons and legacies Donations DSD Health and Social Services Grant Sureslart Grant SELB SELB NR Clear Grant Henry Smylh Charity Grant 2,881 1.310 9.819 30,805 26,439 13,693 14,255 29,593 18,069 19,438 7,924 5,300 2,100 85,305 96,321 Othèr trading actlYllSes Fundraising events Shop income 3,056 43 1481 1481 3,099 Other income Cabin Club Income Trip Income Rent Received 1,260 1,957 1,350 2,011 2,724 2,070 4,667 6,805 Tolal incomè 89,824 106,225 21
Drumcree Community Trust Company Limited by Guarantee Detailed Statement of Financial Activities {contlnuedJ Year ended 31 December 2017 2017 2016 Expenditure Expenditure on charitablo activities Wages and salaries Rent Rates and water Light and heal Repairs and maintenance Insurance Other motorltravel costs Legal and professtonal fees Telephone Depreciation Interest on bank loan5 and overdrafts Loss on disposal of assets Sundry expenses Cabin Club expenses Sure Starl programme Health House expenses 44,461 56,464 255 4S7 2,202 890 3,380 6.874 2,500 1,206 10,532 757 328 2,714 24,180 2,502 1,243 995 2,507 1,757 3,247 3,082 1,556 10,286 1,292 640 28,568 3,971 7,450 109,812 116,484 Total expenditure 109,812 116,484 Net expenditure 119,9881 110,2591 22
Drumcree Community Trust Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 December 2017 2017 2016 Expendlture on charitsbl8 activities Direct Charitable Expenditure Activities undertaken directly Travelling expenses Educational Course5 & Training Cabin Club Expenses Sureslart Programme Expenses Health House Expenses 6,874 2,313 24,18Q 2,502 1,243 37,112 28.568 3,971 7,45D 39,989 Support ¢osts Wages Rent Water Rates Light & Heal Repairs & Maintenance Insurance Telephone Depreciation Bank fees & Interest {ProfilllLoss on disposal of tangible assets Sundry Expense8 44.461 56,464 255 457 2,202 890 3,380 1,206 10,532 757 328 401 995 2.507 1,757 3,247 1,556 10,286 1.292 640 66,741 76,872 Governance Costs Accountancy Governance costs- bookkeeping 2,500 582 2,500 3.082 2,500 Expenditure on charitable actlvlties 109,812 116,484 23