Two Castles Community & Development Association 6[th] April 2024 to 5[th] April 2025 Charity No: 103191
| Receipts | 2024/2025 |
|---|---|
| Grants | £ 10038.64 |
| Associated donations | £ 3230 |
| Sponsorship | £ 1300 |
| Total Receipts | £ 14568.64 |
| Payments | |
| Bank Fees | £ 81.24 |
| Insurance | £ 462.49 |
| Equipment | £ 2512.20 |
| Charitable Donations | - |
| Festival Costs | £ 12720.63 |
| Wages | £ nil |
| Total Payments | £ 15776.55 |
| Net Receipts & Payments | £ -1207.91 |
| Add: opening bank bal. | £ 19376.62 |
| Closing bank balance | £ 18168.70 |
These accounts have been approved and verified by the committee on __18/09/2025_ and signed on its behalf by:
Two Castles Community Development Association
Notes to the financial Statements
for year ended 5 April 2025
1. Accounting Policies
1.1 Accounting convention
The financial statements are prepared under the historical cost convention and are prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and follow the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice (issued March 2005).
The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small charity.
1.2 Incoming resources
Income from donations, sponsorship and grants is included in incoming resources when these are received.
When donors specify that donations and grants are for a particular restricted purpose, which do not amount to preconditions regarding entitlement, this income is included in incoming resources of restricted funds when received.
1.3 Interest receivable
Interest is included on a receivable’s basis by the charity.
1.4 Resources expended
Resources expended are included in the Statement of Receipts and Payments on a payable’s basis.
1.5 Fund accounting
Unrestricted funds relate to general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by funders/donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charges against the specific fund.
1.6 Taxation
The group is not registered for taxation purposes and there has been no tax charges arisen for the group for the year ended 5 April 2025.
2. Fundraising
The charity has raised funds through donations (£3230) and sponsorship (£1300) from local businesses.
3. Grant Income
The charity was awarded a £8048.36 from Community Festival from Derry City & Strabane District Council which went towards the annual festival costs and £1990.28 from DAERA Microgrant for safety equipment.
4. Trustees emoluments
The trustees neither received nor waived any emolument during the year.
5. Financial commitments
The charity has no financial commitments at present.
6. Transaction with trustees
The trustees attend meetings and carry out the business of the charity on a voluntary basis. Travel expenses are paid to Trustees who carry out the business of the charity, at the standard rate provided by HM Revenue & Customs, on receipt of a properly approved travel claim.
7. Charity Commission for Northern Ireland
Two Castles Community Development Association is a registered charity with the Charity Commission for Northern Ireland since 26 September 2016 under registration number 103191.
8. Going concern
In common with all community groups in Northern Ireland, the group continues to experience difficulties in securing long term funding. However, in view of the grants awarded and with volunteer support, the trustees are confident that the group can continue its activities and are therefore satisfied that it is appropriate for the financial statements to be prepared on the going concern basis.