Charlty Number NIC103422 Company Registration Number N1037243 LOUGHGIEL COMMUNITY ASSOCIATION LTD FINANCIAL STATEMENTS 31 MARCH 2023 FPM ACCOUNTANTS LTD Chartered Accountsnts & Statutory Auditor Unit 1, Building 10 Central Park Mallusk Co Antrim BT36 4FS
LOUGHGIEL COMMUNITY ASSOCIATION LTD FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 CONTENTS PAGE Trustees annual report Independent auditorfs report to the members 11 Statement of financial activities (incorporating the income and expenditure account) Balance Sheet 16 17 Cash Flow Statement 18 Notes to the financial statements 19 The followlng pages do not fonn part of the flnanclal statements Detailed statement of financial activities 31
LOUGHGIEL COMMUNITY ASSOCIATION LTD TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2023 The trustees. who are also directors for the purposes of company law, present their repjrt and the financial statements of the charity for the year ended 31 March 2023. All charity trustees have read and understand the ARR02. Charity reporting and accounting: the essentials guidance produced by the Chairty Commission Northem Ireland (NI). This report is prepared in line with the accounting and reporting framework in place for registered charities from l January 2019, and an overview of The Charities (Accounls and Reports) Regulations (Northern Ireland) 2015. REFERENCE AND ADMINISTRATIVE DETAILS Registered ¢harSty name Loughgiel Community A550ciation Ltd Charlty reglstration number NIC103422 Company registratlon number N1037243 Registered offlce Millennium Centre Lough Road Loughgiel Ballymena BT44 9JN The trustees The trustees who served the charity during the period 151 April 2022 to 31 March 2023 were as follows: Mrs B Mcllhatton Miss S McAuley Mr O M¢Fadd¢n Ms SR Pickering Ms N Richmond Mrs J McKeown Mrs J Mccarry Mr GR Baker Resigned 6 JUL 2022 Resigned 13 FEB 2023 Resigned 21 NOV 2022 Resigned 19 JAN 2023 Resigned l O MAR 2023 Audltor FPM Accountants Ltd Chartered A¢countants & Statutory Auditor Unil I, Building l O Central Park Mallusk Co Antrim BT36 4FS Centre Manager Mrs A O'Hagan Solicitor McGill Solicitors 42 Ann Street Ballycastle Co Antrim BT54 6AD
LOUGHGIEL COMMUNITY ASSOCIATION LTD TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2023 Bank Bank of Ireland 2 The Diamond Coleraine BT52 1 DE
LOUGHGIEL COMMUNITY ASSOCIATION LTD TRUSTEES ANNUAL REPORT(contiftuedJ YEAR ENDED 31 MARCH 2023 The Directors (who are also the Trustees of the Charity) were unable to submit a detailed annual report due to all trustees who were acting in the period covered in the report having resigned at the date of 29 January 2024. On behalf of the trustees who served during this time and Loughgiel Community Association (LCA) the Cur nt active trustees submit the audited financial statements for the year ended 31 March 2023. Please note that the details of this report and an understanding of activities are from observations and limited records available to the current active board. Several concerns raised by our auditor are still to be resolved. The contents of this report follow the requirements of the trustees, annual report for charities that ppare accruals accounts which are set out in the Charities Ststement of Recommended Praclice (Charities SOiiP) (FRS102). Loughgiel Community Associatlon's Work Loughgiel Community Association is a company limited by guarantee whose objects are recognised as charitable by HM Revenue & Customs. Vlsion & Mission To relieve poverty, sickness and the aged and to promote the benefit of the inhabitants of the Parishes of Loughgiel, Co Antrim and environs without distinction of age, sex. race, political, religious or other opinion, by association the statutory authorities, voluntary organisations and inhabitants in a common effort lo advance education, and to provide facilities in the interests of social welfare for recreation of other leisure time occupation, with the object of improving the conditions of life for the said inhabitants. To mainlain our established community centre and manage/cooperate with any local statutory authority in the maintenance and management of such a centre for activities promoted by the Association. Our aclivilies Advice/advocacyllnformatlon Community development Community enterprise Educationltraining Environment/sustainable development/conservation General charltable purposes Rural development Volunteer development Youth development Governance & Management Structure On the date of approval of this report each of the persons who is a trustee were actively working on updating our governance and management structure. Two current board members have undertaken governance training, and this will continue for the foreseeable future with input from external providers in the voluntary, community and third sector. The following areas under governance and management structure 15 actively being addressed:
LOUGHGIEL COMMUNITY ASSOCIATION LTD TRUSTEES ANNUAL REpORT(ltinued) YEAR ENDED 31 MARCH 2023 Le al Com liance". Comply with the legal framework governing charities in Northern Ireland, including the Charities Ad (Northern Ireland) 2008, and any other relevant legislation or regulations. A new law is effective which applies to Loughgiel Community Association. The new legislation. The Charities Aci (Northern Ireland) 2022, legally requires LCA to report to the Charity Commission for Northern Ireland on an annual basis for accounting periods beginning on or after l April 2022. Governin Document; Our governing document is clear but not up to date. Our constitutionlmemorandum and articles of association, which sets out the organisation's charitable purposes, powers. and governance structure will be reviewed. Board of Trustees: Work is ongoing to establish trustee induction and training provisions. Trustee induction and training will provide appropriate induction and ongoing training for trustees, ensuring they are aware of their l¢gal obligations, the charity's purpose, and their roles and responsibilities. Financial Mana ement: The board are actively implementing robust financial management systems and controls to ensure transparency> accountability. and proper stewardship of the charity's resources. This includes the implementation of software lo assist in maintaining accurate financial records. preparing annual accounts, and to assist independent audils when required. Policies and Procedures: The l)oard of trustees have dedicated significant time and their resources to developing and implementing policies and procedures to guide the charity's activities and ensure compliance with legal and regulatory requirements. This includes r¢vi¢wing all policies on safeguarding, equality and diversity, fundraising, human resource management, health and safety, and volunteer management. ortin and Accountabilit The current board has been actively cooperating with inquiries conducted by the Chaity Commission for Northern Ireland and will work io resolve these as required. Risk Mana einent: The updating of policies and procedures assists with the updating of risk assessments. The board are actively identifying and managing risks to the charity, including financial, reputational, legal, and operational risks. The board are developing a risk management strategy, and it will be regularly reviewed and updated. Continiious Im rovement.. The board of LCA will. going forward, regularly review and evaluate the charity's govemance and management practices, seekTng feedback from stakeholders and making necessary improvements to enhance effectiveness and etTJciency. LCA will Continue to consult the Charity Commission for Northern Ireland for guidance. resources, and training, and seek professional advice if needed to ensure compliance with governance and management structure requirements.
LOUGHGIEL COMMUNITY ASSOCIATION LTD TRUSTEES ANNUAL REPORT(continued) YEAR ENDED 31 MARCH 2023 Public Benefit Loughgiel Community Association Ltd's chaity public benefit statement, "The benefits include irnproved health and well-being. improved access to services and facilities, reduction in social isolation, enhanced capacity of l(Kal community and enhanced employment opportunities. The Charity's beneficiaries are the inhabitants of the Parish of Loughgiel and surrounding are4 as well as organisations with an interest in the area. Any private benefit Is incidenlal in terms of enhanced health and well-being, access to services and facilities, capacity of community and enhanced employment opportunities. The benefits further include improved cooperation between voluntary, statutory and community organisations, irnproved access to services and facilities, enhanced knowledge and capacity of community to address needs, enhanced health and well-being, reduction of social isolation. These can be demonstrated through increase in provision of services and facilities that would otherwise not be available, including childcare, luncheon club, youth club, training courses and general Community activities, through general feedba¢k, evaluations and community surveys, and level of cooperation with other voluntary and statutory organisations to improve acce5S to services and facilities. There is no ham associated, The Charity's beneficiaries are the inhabitants of the Parish of Loughgiel and suOund1ng area, as well as organisations with an interest in the area. Any private benefit is incidental in tenns of enhanced health and well-bein& capacity of community and enhanced employment opportunities and improved acces5 to services and facilities. The Role of the Board of MAnagement The Board of Directors meets at least ten times during the year, monthly. The role of the Board is.. Strategic Direction: Setting and maintaining strategy with reference to the Corporate Plan: holding the Management team to account. Financial Control,. Approving the annual budget. monitoring expenditure with reference to the budget. adopting financial statements. Support: Making individual skills and experience available within the Board to the senior staff; Advocacy; Acting ambassadors for the organisation and supporting the Manager in securing project funding. Board members are recruited to meet specific needs and capabilities that ensure a balance of experience and understanding to ensure effective govemance of the charity. Members may be co-opt¢d on to the Board during the year with the agreement of more than 50 % of current Board members. Those co-opted will then stand for re-election to the Board at the next AGM. Day to day operational rnanagement was delegated to Angela O'Hagan, Manager of The Millenium cent Loughgiel.
LOUGHGIEL COMMUNITY ASSOCIATION LTD TRUSTEES ANNUAL REPORT (conbnued) YEAR ENDED 31 MARCH 2023 Achievements and Performance Due to the delay in the preparation olthese accounts the current boaTd had no active trustees serving during the time this report covers and therefore are unable to comment on achievements and perforniance. PLANS FOR THE FUTURE LCA board will embark on a strategic review of all operations undertaken by Loughgiel Community Association. This strategic review will be guided by The Chairty Commission for Northern Ireland and best practice guidelines and includes: Restructuring of staff and a review of employee roles with external support from funders, Human Resource (HR) experts, and with the implementation of HR software. Review of LCA'S systems, resources, policylprocedures, purpose and ambitions. Adopt policies and procedures that maintain transparency and accountability Improve cooperation between voluntary, statutory and community organisations, including groups within our own local community Improve access to services and facilities, enhanced knowledge and capacity of community to address needs, enhanced health and wellbeing. reduction of social isolation In addition to this Loughgiel Community Association are considering the following future plans to meet public benefit and address the specified areas: l. Health and Wellbeing Initiatives: Develop and implement health and wellbeing programs and activities for the local community. This can include organising exercise classes, mental health workshops, healthy lifestyle campaigns, and promoting access to healthcare services. 2. Improved Access lo Services and Facilities: Identify gaps in local service provision and work towards improving access to essential services. This may involv¢ collaborating with local service providers, advocating for improved infrastructure, or establishing partnerships to bring services closer to the community. 3. Social Integration and Reduction of Social Isolation: Create opportunities for social interaction and community engagement to reduce social isolalion. This can be achieved through organising community events, clubs, support groups, and activities that foster connection and inclusion. 4. Building Community Capacity: Offer training and skill-building programs to enhance the capacity of the local community. This will include workshops on leadership, financial management, digital literacy, or vocational training to empower individuals and groups to take an active role in community development. 5. Employment Support and Opportunities: Collaborafr with local businesses, organisations, and educational institutions to create employment opportunities for community memkrs. This can involve facilitating job fairs, providing career guidance and training, or supporting entrepreneurship inltiatives. 6. Collaborative Partnerships: Strengthen partnerships with other charitable organisations, local authorities, healthcare providers, and cotntnunity gTOUPS. By working together, a collective impact can be achieved to address complex social issues and m&¥imise resources. 7. Community Consultation: Regularly engage with th¢ community to understand their needs, aspirdtions, and priorities. Conduct surveys, focus groups, and cotnmunity onsultations to ensure that future plans align with the specific requirements and desires of the local population.
LOUGHGIEL COMMUNITY ASSOCIATION LTD TRUSTEES ANNUAL REPORT(e0ntlftdj YEAR ENDED 31 MARCH 2023 8. Evaluation and Adaptation: Continuously evaluate the impact and effectiveness of initiatives and programs. This (an help identify areas for improvement, ensure resources are utilised effectively. and adapt Futu plans based on feedback and outcome5. 9. Sustainable Funding: Develop a sustainable funding strategy to support the implementation of futur¢ plans. This can involve diversifying income streams, applying for grants, and engaging in fundraising activities to ensure the long-terni viability of the charity's activities. Regularly reviewing and revising these plans in consultation with the community will help ensure that the charity's efforts remain responsive to evolving needs and priorities. RESERVES POLICY AND GOING CONCERN Although it was stated in March 2022 trstee report, "Loughgiel Community Associalion are now able to develop a reserves policy to help with futUTe projects., A policy is still to be created. This will be completed during the current financial year, Although significant challenges lie ahead in facilitating the transitioning off key employees, Loughgiel Community Association are hopeful of achieving financial stability and a bright future. Despite the challenges associated wilh key staff members leaving, Loughgiel Community Association remains optimistic and determined to overcome these obslacles. With the support of our community, partners, and volunteers, we believe that we can build a bright future and achieve financial steadiness for the benefit of all those we serve on this basis the assessment of the trustees is Ihat the charity is a going concern. DISCLOSURE OF INFORMATION TO AUDITORS The Directors who held office at the date of approval of this report were unable to confinn that there is no relevant audit inforniation of which the Charitable Company's auditors are unaware. Several factors impact the ability to make this disclosure. Each director has taken all the steps they ought to have taken as a director to make themselves aware of any relevant audit infonnation and to establish that the Charitable Company's auditors are aware of that infonnation. TRUSTEES, RESPONSIBILITIES STATEMENT The trustees (who are also the direclors of Loughgiel Community Association Ltd for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial slatements in accordance with applicable law and regulations. Company law required the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the situation of the charity and the income and expenditure of the charity for that period. In preparing these financial statements, the trustees are required to: -select suitable accounting policies and then apply them consistently. . - Observe the methods and principles in the Charities SORJ; , - Make judgements and accounting estimates that are reasonable and prudent" and
LOUGHGIEL COMMUNITY ASSOCIATION LTD TRUSTEES ANNUAL REPORT (eontlnu•d) YEAR ENDED 31 MARCH 2023 Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with re&sonable 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 Teasonable steps for the prevention and detection of fraud and other iegUlar1ties. AUDITOR FPM Accountant5 Ltd are deemed to be re-appointed under section 487(2) of the Companies Act 2006. On the date of approval of this report each of the persons who is a trustee can confirni that: The trustees are aware that relevant audit infomiation sought by the auditors remains outstanding. and Each trustee has taken all reasonable steps that they ought to have taken as a trustee to make themselves aware of any relevant audit inforniation and to establish that the charity's auditor is aware of that information. Registered office.. Millennium Centre Lough Road Loughgiel Ballymena BT44 9JN Signed on behalf of the trustees Sheree Connolly Chairperson Date: 31 January 2024 10
LOUGHGIEL COMMUNITY ASSOCIATION LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOUGHGIEL COMMUNITY ASSOCIATION LTD YEAR ENDED 31 MARCH 2023 Qualified Opinion We have audited the financial statements of Loughgicl Community Association Ltd (th¢ 'charity') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the cash flow statement and the not¢s to the accounts, 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, except for the possible effects of the matters described in the Basis for qualified opinion section of our report, the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for qualified opinion The charity were unable to provide sufficient audit evidence to verify the completeness of generated income, nor did Ihey consider fully the V A T implications of such income. 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 Auditorfs responsibilities for the audit of the accounts section of our report. We are independent of the charity in accordance wilh the eihical requirements Ihat are relevant to our audit of the accounts in the UK, including the FRC'S Ethical Standard, and we hav¢ fulfilled our other ethical responsibilities in ac¢ordan¢¢ with the% requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified 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 15 appropriate. Based on the work we have perfonned, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the gryoup and 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.
LOUGHGIEL COMMUNITY ASSOCIATION LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOUGHGIEL COMMUNITY ASSOCIATION LTD (continued) YEAR ENDED 31 MARCH 2023 Other information The other inforrnation comprises the inforniation included in the annual report, other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other inforn)ation. Our opinion on the financial does not cover the other inforniation and, except to the extent otheTWi5e explicitly stated in our report, we do not express any fonn of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other inforn]ation and, in doing so, consider whether the other infonnation is materially inconsistent with the accounts or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are requiTed to deterniine whether there is a material misstatement in the accounts or a material rnisstatement of the other infomlation. If, based on the work we have perfomied, we conclude that there is a material misstatement of this other inforniation, we are required to report that fact. We have nothing to report in ihis 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 infom]ation given in the Trustees Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and the Trustee5 Report has been prepared in accordance with applicable legal requirements. Matters on Ivhieh we are required to report by exception In the light of the knowledge and understanding of the Trustees and its envtronment obtained in the course of the audit, we have not idenlified material misstatements in the Trustees Report. 12
LOUGHGIEL COMMUNITY ASSOCIATION LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOUGHGIEL COMMUNITY ASSOCIATION LTD (contlnu•d) YEAR ENDED 31 MARCH 2023 We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to r¢port to you if. in our opinion.. the financial statements are not in agreement with the accounting records and returns. or certain disclosures of trustees, remuneration specified by law are not made. or we have not received all the inforn]ation and explanations we require for our audit. As highlighted in our qualified opinion, in certain specific respects. we do not believe that adequate accounting records have b¢¢n kept. Responsibilities of Trustees As explained more fully in the Statement of Trustees Responsibilities, the Trustees who are also the director5 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 directors deterniine is necessary to enable the preparation of financial statemenls 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 a5 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 company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audit of th¢ financial ststements 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 auditorfs report that includes our opinion. Reasonable assurance is a high level of assuranc¢, 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 artse 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 accounts. 13
LOUGHGIEL COMMUNITY ASSOCIATION LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOUGHGIEL COMMUNITY ASSOCIATION LTD (continued) YEAR ENDED 31 MARCH 2023 IegularitIes, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. The ext¢nt to which our procedures are capable of detecting irregularilies, including fraud, is detailed below. We obtained an understanding of the legal and regulatory framework applicable to the company through enquiry of management, IndSty research and the application of cumulative audit knowledge. We identified the following principal laws and regulations relevant to the company - Cornpanies Act 2006 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). We developed an understanding of the key fraud risks to the entity (including how fraud might occur), the controls in place to help mitigate those risks, and the accounts, balances and disclosures within the financial statements which may be susceptible to management bias. Our understanding was obtained through review of the financial statements for significant accounting estimates, analysis of journal entries, walkthrough of the key controls cycles in place and enquiry of management. Our procedures to respond to those risks identified included, but were not limited to: Enquiry of managemenl, those charged with governance and the entity's solicitors around actual and potential litigation and claims. Enquiry of managemeTtI to identify any instances of non-compliance with laws and regulations. Reviewing financial stalement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. Auditing the risk of management override of controls, including through testing journal entries and oiher adjustments for appropriatene55, and evaluating the business rationale of significant transactions outside the nonnal course of business. A further description of our responsibilities for the audit of the accounts is located on the Financial Reporting Council's website at: litt .'Ilwww.frc.or F uklaiidirors es nsibi lilies. 14
LOUGHGIEL COMMUNITY ASSOCIATION LTD INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF LOUGHGIEL COMMUNITY ASSOCIATION LTD (¢ontInu) YEAR ENDED 31 MARCH 2023 This description fonns part of our auditor's rep)rt. This report is made solely to the charitable company's members, as a body, in accordance with Chapfrr 3 of Part 16 of the Companies Act 2006 and regulations made under that Act. 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 auditors, report and for no other purpose. To the fullest extent perniitted by law, we do not accept or &8sume responsibility to anyone other than the charitable company and its members as a body, for our audil work, for this report, or for the opinions we have fornied. MR JAMES LOWRY GRANT (Senior Statutory Auditor) For and on behalf of FPM ACCOUNTANTS LTD Chartered Accountants & Stalutory Auditor Unit I, Building 10 Central Park Mallusk Co Antrim BT36 4FS 15
LOUGHGIEL COMMUNITY ASSOCIATION LTD STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT) YEAR ENDED 31 MARCH 2023 Unrestricted Funds Restrtcted Restricted Total Funds Total Funds Funds Capital Funds 2023 2022 Note INCOME FROM Donations and legacies Charitable activities Other trading activities Other Income 25,705 101,364 6,696 242.188 32,401 345,037 91,954 412,009 1,485 167,135 15,771 167,135 15,771 560J44 84,371 TOTAL INCOME 309,975 248,884 1,485 588.334 EXPENDITURE ON Charitable activities 617 Other expenditure TOTAL EXPENDITURE (392,712) (1,347) (255,034) (69,663) (717,409) (709.995) (la47) (2.010) (394,059) (255,034) (69,663) (718,756) (712.005) NET EXPENDITURE AND NET MOVEMENT IN FUNDS FOR THE YEAR RECONCILIATION OF FUNDS Total funds brought forward (84.084) (6,150) (68,178) (158,412) (123,671) 361,104 36,946 1,697,257 2,095,307 2,218,978 TOTAL FUNDS CARRIED FORWARD 277,020 30,796 1,629,079 1,936,895 2,095,307 The Statement of financial activities Includes all gains and losses in the year. All of the above amounts relate to continuing activities. The notes on pages 19 to 30 fonn an integral part of these financial statements. 16
LOUGHGIEL COMMUNITY ASSOCIATION LTD BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Note FIXED ASSETS Tangible assets 12 1,812,351 1,887.380 CURRENT ASSETS Bank Debtors 119J94 176,075 13 144,569 240,737 CREDITORS: Amounts falling due within one year 14 (20,025) (32,810) NET CURRENT ASSETS 124,544 207,927 TOTAL ASSETS LESS CURRENT LIABILITIES 1.936,895 2.095,307 CREDITORS: Amounts falllng due after more than one yevdr NET ASSETS 1.936,895 2,095.307 FUNDS OF THE CHARITY Restricted capital funds Restricted income funds Unrestricted income funds 15 16 17 1,629,079 30,796 277,020 1,936,895 1,697,257 36,946 361,104 2,095,307 TOTAL CHARITY FUNDS These financial statements were approved by the members of the cornmittee and authorised for issue on the and are signed on their behalf by: Sheree Connolly Chairperson Company Registrdtion Number: N1037243 The notes on pages 19 to 30 fonn an integrnl part of these financial statements. 17
LOUGHGIEL COMMUNITY ASSOCIATION LTD CASH FLOW STATEMENT AS AT 31 MARCH 2023 2023 2022 Notes Cash (used) /generated in operating acllvltles 19 (41,638) 87,607 Cashflow5 Purchase o rom Invesling aclivilies property, plant and equipment (15,043) (67,731) Net Cash used in investing activlties (15,043) (67,731) Cash flows from financing activitles Repayments of borrowing Net Cash used in financing activities Net cagh (outflow) /inflow (56,681) 19076 Change in cash in the re orting period Cash at ihe beginning olthe reporting period Cash at the end of the reporting period (56.681) 176,075 19,876 156,199 119,394 176,075 18
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES The principal accounting policies adopted. judgements and key sources of estimation in the preparation of the financial statements are as follows: Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities prepartng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective I January 2019) (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity is a Public Benefit Entity as defined by FRS 102. Assets and liabilities are inilially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The accounts are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. Preparation of the accounts on a going concern basis Although significant challenges lie ahead in facil ilating the transitioning off key ernployees, Loughgiel Community Association are hopeful of achieving financial stability and a bright future. Despite the challenges associated with key staff members leaving, Loughgiel Community Association remains optimistic and detennined to overcome these obstacles. While the departing employee5, expertise will be missed, we are confident in the capabilities of our remaining staff and are actively seeking new talent to fill any gaps. We are committed to maintaining ihe high standard of service and support that our community has come to expect. In addition to addressing the staff transitions, we are actively pursuing opportunities to diversify our income sources. By exploring grants, fundraising aclivities, partnerships, and other revenue-generating initiatives, we aim to reduce our reliance on a single funding stream and secure the financial stability needed to thriv¢. To support our financial goals, we are implemenling efficient financial management practice5, budgets and budget reviews, expense monitoring, and optimisation of operational efficiency will ensure the effective use of resources. We are also exploring new fundraising events and campaigns to engage the community and raise funds. Loughgiel Community Association values the power of volunteers and will continue to engage and empower them. Volunteers play a vital role in supplementing our staff efforts and expanding our services. We will enhance our volunteer recruitment and management system to ensure that they receive the necessary training and support. Community engagement and communication remain at the forefront of our efforts. We will strengthen our communication channels to keep the community infonned about our activities, impact, and financial needs. By fostering a sense of ownership and involvement, we aim to build strong support and engagement from the community and stakeholders. In the long tern], we are committed to developing a comprehensive financial plan that includes forecasting future funding needs, identifying potential risks, and setting financial goals. This plan will guide our decision-making and ensure our financial stability in the years to come. 19
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 Loughgiel Community Association remains dedicated to measuring and reporting on the impact of our work. By showcasing the positive outcomes and value we create, we aim to demonstrate our effectiveness and attract continued support from funders and the community. Despite the challenges ahead, Loughgiel Community Association is hopeful and determined to overcome them. With the support of our community, partners, and volunteers, we believe that we can build a bright future and achieve financial steadiness for the benefit of all those we serve on this basis the assessment of the trustees is that the charity is a going concern. Fund Accounting General funds are unrestricted funds which are available for use at the discretion of ihe Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. General funds may be transferred to designaled funds where Trustee5 wish to use these funds for a specific purpose. Such funds rnay be transferred back to general funds once the criteria for the designation have been met or are no longer applicable. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of restri¢led funds is set out in the notes to the financial statements. Restricted funds may only be transferred to general or designated funds once the crileria for restriction have been discharged or no longer apply. Income Recognition Policies Items of income are recognised and included in the accounts when all of the following criteria are met: The charity has entitlement to the funds; any perforniance conditions attached to Ihe item of income has been met or are fully within the control of the charity. there is sufficienl certainty that receipt of the income is considered probable: and the amount can be measured reliably. Donated service$ and facilities In accordance with the Charities SORP (FRS 102). the general volunteer time of supporters is not recognised. Interest Receivable Interest on funds held on deposit is included when receivable and the amount can be me&sured reliably by the charity. this is nornially upon notification of the interest paid or payable by the Bank. Expenditure Expenditiire is Terognised once there is a legal or constructive obligation to tnake a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Expenditure on charitable activities undertaken to further the purposes of the charity and their associated support costs Other expenditure represents those items not falling into any other heading 20
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES (conlinued) Cash at bank and in hand Cash at bank and cash in hand includcs cash and short tcrm highly liquid investments with a short maturity of three months or less from the date of acquisition or opening the deposit or similar account Allocation of 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. These costs have been allocated against expenditure on charitable activities. Fixed Assets Individual fixed &ssets are capitalised at cost and are depreciated over their estimated useful economic lives &8 follows: Asset Category: Annual Rate Land and Buildings Plant and Machinery Fixtures and Fitting5 Motor Vehicles 20/0 Straight Line 25 % Reducing Balance 25 /0 Reducing Balance 25 % Reducing Balance The canyTng values of tangible fixed assets are reviewed for impaimient when events or circumstances indicate the carrying value may not be recoverable. Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discount due. Creditors and Provisions Creditors and provisions are re¢ognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third paty and the amount due to settle the obligation can be measured OT estimated reliably. Creditors and provisions are norn]ally recognised at their settlement amount after allowing for any trade discounts due. Financial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlemenl value with the exception of bank loans which are subsequently measured at the canying value plus accrued interest less repayments. The financing charge to expenditure is at a constant rate calculated using the effeclive interest method Taxation The company is a registered charity and the charitable tax exemptions are therefore being claimed io the extent that income an(Vor gains are applicable and applied to charitable purposes only. These exemptions will remain in place as long as income and expenditure is applied to charitable purposes only. 21
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 ACCOUNTING POLICIES (coM*INutd) 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 &ssociatd assumptions are based on historical experience and otheT 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. Legal Status of the Charity The charity is a company limited by guarantee and has no share capital. DONATIONS AND LEGACIES Total Funds Unrestricted Restricted Total Funds 2023 Funds Funds 2022 Unre5trlcted Restrleted Fund$ Funds DonAtions Gruig Community Fund Other donations Altaveedan Wind Farni Grant Department for Communities CJRS Furlough Scheme Northern Ireland Housin8 Executive- COVID 19 Emergency Fund 4327 4227 780 4,145 8,025 4,145 8,025 20,698 20,698 19,671 19,671 31,098 31,098 6,696 6,696 29,015 29,015 25,705 6,696 32.401 62.939 29,015 91,954 22
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 INCOME FROM CHARITABLE ACTIVITIES Unrestricted Restricted Restricted Total Funds Funds Fund5 Capital Funds 2023 Northern Ireland Housing Executive - Supporting People Northern Ireland Housing Executive- Special recognition Northem Ireland Housing Executive- Homeless Prevention Fund DHSS and PS School Aged Children Fund- Brightstart North Eastern Education and Library Board- PEAG Early Years Pathways Ulster Supported Employment Education Authority Education Authority Engage Education Authority Non Targeted funding Causeway Coast & Glens Department of Education Department for Communities BB Health Forum Oul of School Project Childcare Project Other Grant Income Rural micrapital Grant Scheme 85,945 85,945 1,790 1.790 37,319 37,319 18,882 18.882 23,441 22,498 23,441 22,498 37.231 45,058 4J68 37,231 6,138 38,920 4J68 4,400 4,625 4,400 4,625 3,810 4.633 3010 4,633 2,000 27,888 11,411 8,253 11.411 8253 1.485 IOlJ64 242,188 1,485 345,037 23
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 INCOME FROM CHARITABLE A1VITIEs (eonllmued) Unrestricted Restricted Restricted Total Funds Funds Funds Capital Funds 2022 Northem Ireland Housing Executive - Supporting People Northern Ireland Housing Executive - Supporting People Programrne - Provider Innovation Fund (PIF) Northern Ireland Housing Exe¢utiv¢ - Supporting People Prograrnme- C19RF DHSS and PS School Aged Children Fund - Brightstart North Eastern Education and Library Board - PEAG Early Years Early Years Pathways Ulster Supported Employment Education Authority Education Authority Engage II Education Authority Outdoor Learning Project Causeway Coast & Glens CC&GBC - Covid-19 Food & Essential Supplies Education Authority- MIS Support Grant IT Capacity Building Scherne Lottery Fund Department for Communities Getting Ready to Learn BB Health Forum DAERA Oul of School Project Childcare Project Other Grant Income South & East Cork Summer Boost Grant Education Authority Camp Equipment Grant EH & WB Grdnt Health and Social Care Board 83J87 83,387 18,264 18,264 19,925 19,925 18J32 1&332 19,880 14,634 22.498 19,880 14.634 22,498 40,494 38,920 2,912 40,494 38,920 2,912 1.000 2,500 I,(K)o 2JOO 2,500 2JOO 9,600 11,686 9,600 11,686 27,546 2021 370 &916 1.483 19.148 14,108 7,606 1,500 13,805 27J46 2.821 370 8,916 1,483 19,148 14,108 7,606 1.500 13,805 2,486 3,250 3.250 2,438 2.438 95,531 293,709 22,769 412,IK19 24
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 OTHER TRADING ACTIVITIES Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Generated Income 167,135 167,135 84,371 84,371 OTHER INCOME Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Insurance Claim 15,771 15,771 COSTS OF CHARITABLE ACTIVITIES BY FUND TYPE Restricted Capital Total Funds Fund8 2023 Unrestricted Restricted Funds Funds Charitable activity Support costs 266,763 116,589 383J52 212,464 42,570 255,034 479,227 228,822 69,663 69,663 708,049 Unrestricted Funds Restricted Restricted Total Funds Funds Capital Funds 2022 Charitable activity Support costs 174.792 99.788 274,580 304,228 29,390 333,618 21,286 75,931 97,217 5CQ,306 205.109 705.415 25
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 COSTS OF CHARITABLE ACTIVITIES BY ACTIVITY TYPE Activities undertaken directly Support Total Funds Total Funds costs 2023 2022 Charitable activity Governance costs 479227 228,822 9J60 238.182 708,049 9J60 717.409 705,415 4,580 709.995 479227 OTHER EXPENDITURE unrestrict Total Funds Unrestricted Total Funds Fund$ 2023 Funds 2022 Interest Payable and Similar Charges lJ47 lJ47 2,010 2,010 NET OUTGOING RESOURCES FOR THE YEAR This is stated after charging: 2023 2022 Depreciation Auditors, remunerdtion: audit of the fjnancial statements 90,072 93,186 6.000 5.000 10. STAFF COSTS AND EMOLUMENTS Totsl staff costs were as follows: 2023 2022 Wages and salaries Social security costs Pensions 344J52 22,893 12,637 317,841 20,290 12,874 379,882 351,005 Particulars of employees: The averdge nulnber of employees during the year, calculated on the basis of full-time equivalents, was as follows: 2023 2022 No. 23 Number of other staff 25 No employee received remuneration of more than £60.000 during the year (2022 - Nil). The employee benefits of the key management personnel of the charity totalled £44,325. 26
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 11. RELATED PARTY TRANSACTIONS The charity was under the control of the board of trustees throughout the year. There are no related party transactions to disclose under FRS 102. None of the Trustees receive reimbursement of expense. remuneration or other benefit from their work with the charity. Any connection between a Trustee or senior manager of the charity with organisations the charity works with must be disclosed to the full Board of Trustees in the same way as any other contractual relationship with a related party. 12. TANGIBLE FIXED ASSETS Land and Plant and Fixtures & Buildings Machinery Fittings Motor Vehicles Total COST At l April 2022 Additions 2.477,648 68,518 3,780 72,298 365,003 11,263 376,266 46,355 2,957J24 15.043 2,972067 At 31 March 2023 2,477,648 46J55 DEPRECIATION At l April 2022 Charge for the year At 31 March 2023 742,168 49,553 791,721 67J69 1,104 68,673 230JOS 35,352 30,102 4,063 1,070,144 90.072 265,657 34,165 1,160216 NET BOOK VALUE At 31 March 2023 1.685,927 1,735,480 3,625 949 110,609 134,698 12,190 16,253 1012J51 1,887,380 At 31 March 2022 13. DEBTORS 2023 2022 Grants Receivable Other debtors and prepayments 13,611 11,564 50,720 13,942 64,662 25,175 14. CREDITORS.. Amounts falling due within one year 2023 2022 Taxation and social security Other creditors Accruals and deferred income 2,341 9,710 7,974 20,025 3.920 14.622 14.268 32,810 27
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 15. RESTRICTED CAPITAL FUNDS Balance at l April 2022 Balance at Expenditure 31 March 2023 Income Permanent restricted capital Restricted Capital Funds Department of Education RDP Funding Clothworker DAERA NIHE Causeway Coast & Glens Rural Mico Capital Grant 1.167.912 39,471 187,817 lJ18 228,087 13,024 59,628 (39,667) (871) (19,744) (593) (4,029) (3,449) (1,217) (93) (69,663) 1,128345 38.600 168.073 725 224.058 9,575 58,411 lJ92 1,485 1,697257 1.485 1,629.079 16. RESTRICTED INCOME FUNDS Balance at l AprRI 2022 Balance at Expenditure 31 March 2023 Income NIHE Supporting People Early Years Northern Ireland Housing Executive - Special recognition Northern Ireland Housing Executive- Homeless Prevention Fund DHSS and PS School Aged Children Fund - Brightstart ChTldren in Need Education Authority Education Authority Engag¢ North Eastern Education and Library Board- PEAG Lottery Fund Causeway Coast & Glens Education Authority Non Targeted funding Northern Ireland Housing Executive- COVID 19 Emergency Fund Northern Ireland Housing Executive - Supporting People Programme- Provider Innovation Fund (PIF) 85.945 (85,945) 1,790 (1,790) 37J19 (32,071) 5,248 18,882 (18,882) (147) (38,920) (4J68) 589 442 38,920 4.368 2,598 17.034 781 23.441 (24,091) (4.259) (4,820) 1,948 12.775 4,625 4,400 (4,400) 6,696 (6,696) 2,045 (511) IW4 28
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 16. RESTRICTED INCOME FUNDS CTD... Balance at l April 2022 Balance at Expenditure 31 March 2023 Income Northern Ireland Housing Executive - Supporting People Programme - Cl 9RF Early Years Pathways Getting Ready to Learn South & E&st Cork 12.704 {5,189) (22,498) 715 22,498 1,195 (447) 748 36.946 248,884 (255,034) 30,796 17. UNRESTRICTED INCOME FUNDS Balance at l Apr 2022 Balance at Expendlture 31 Mar 2023 Income General Funds 361,104 309,975 (394,059) 277,020 29
LOUGHGIEL COMMUNITY ASSOCIATION LTD NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2023 18. ANALYSIS OF NET ASSETS BETWEEN FUNDS Tangible rixed assets Net Assets Total Restricted Income Funds: Children in Need North Eastern Education and Library Board- PEAG Lottery FLmd Causeway Coast & Glens Northern Ireland Housing Executive- Supporting People Programme- Provider Innovation Fund (PIF) Northern Ireland Housing Executive - Supporting People Programme - C19RF Northern Ireland Housing Executive- Homeless Prevention Fund South & East Cork 442 1,948 12,775 586 442 1.948 12,775 586 lJ34 1,534 7,515 7,515 3a53 748 1095 5,248 28.901 1,895 30,796 Restrlcted Capital Funds: Restricted Capital Funds Department of Education RDP Funding Clothworker DAERA NIHE Causeway Coast & Glens Rural Mico Capital Grant 1,128.245 38,600 168,073 725 224,058 9,575 $8,411 ia92 1,629,079 154,371 1,812J51 1,128,245 38,600 168,073 725 224,058 9.575 58,411 lJ92 1,629.079 277,020 1,936,895 Unrestricted Income Fundy 122,649 124544 Total Funds 19. RECONCILIATION OF NET OUTGOING RESOURCES TO NET CASH OUTFLOW FROM OPERATING ACTIVITIES 2023 2022 Net movement in funds for the reporting period (SOFA) Dcpreciation on tangible fixed assets (Increase) I decrease in debtors Increase / (decrease) in creditors (158,412) 90,072 39,487 (12,785) (123,671) 93,186 107,941 10,151 Net c&%h provided by (used in) operating activities 30
LOUGHGIEL COMMUNITY ASSOCIATION LTD MANAGEMENT INFORMATION YEAR ENDED 31 MARCH 2023 The followlng pages do not fomi part of the statutory flnanGlal Ststements which are the subject of the ind•pendent auditorf8 report on pages 11 to 15. 31
LOUGHGIEL COMMUNITY ASSOCIATION LTD DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023 2023 2022 INCOMING RESOURCES DONATIONS AND LEGACIES Gruig Community Fund Other donations Altaveedan Wind Farni Grant CJRS Furlough Scheme Northern Ireland Housing Executive- COVID 19 Emergency Fund 4,427 780 20,698 4,145 8,025 19.671 31.098 6,696 29.015 32,401 91,954 Generated Income 167,135 84,371 INCOME FROM CHAIUTABLE ACTIVITIES Northern Ireland Housing Executive - Supporting People Northern Ireland Housing Executive - Supporting People Programme - Provider Innovation Fund (PIF) Northern Ireland Housing Executive - Supporting People Programme- C19RF Northern Ireland Housing Executive- Special recognition Northern Ireland Housing Executive- Homeless Prevention Fund DHSS and PS School Aged Children Fund- Brightstart North Eastern Education and Library Board - PEAG Early Years Early Years Pathways Ulster Supported Employment Education Authority Education Authority Engage Education Authority Outdoor Learning Projert Education Authority Non Targeted funding Causeway Coast & Glens CC&GBC - Covid-19 Food & Essential Supplies Departmcnt of Education Education Authority- MIS Support Grant IT Capacity Building Schem¢ Lottery Fund Department for Comrnunities Getting Ready to Learn BB Health Forum DAERA Out of School Project 85,945 83,387 18,264 19.925 1,790 37,319 18,882 23,441 18,332 19,880 14,634 22,498 40,494 38,920 2.912 1,000 22,498 37,231 45,058 4J68 4,400 4,625 2.500 2.500 3,810 9,6 11,686 27,546 2,821 370 8,916 1,483 19,148 4,633 2,000 27,888 32
LOUGHGIEL COMMUNITY ASSOCIATION LTD DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023 Childcare Project Other Grant Income Rural Microcapital Grnnt Scheme South & East Cork Summer Boost Grant Education Authority Camp Equipment Grant EH & WB Grant Health and SociaI Car¢ Board 14,108 7.606 8,253 1,485 1,5(M) 13,805 2,486 3,250 2,438 412,009 345,037 TOTAL INCOME 560J44 588,334 EXPENDITURE 2023 2022 CHARITABLE A1VITIEs Staff cosls - Wages & Salaries Staff costs - Employer's NIC Staff costs- Pensions Establishment - Light & heat Establishment - Repairs & maintenance Establishment - InSUrae Establishment - Other Mileage and Travel Office expenses- Telephone Depreciation Bus Hire Catering and Activities Programme Costs General Expenses Printing, postage and stationery Membership Security IT- Apps Volunteer Expenses Advcrtising Rent, Rates & Water Consultancy Equipment and Materials Hire of Equipment 344?52 22,893 12,637 46,867 17.606 7,445 5,022 10.015 7,708 90,072 317,841 20.290 12.874 24,678 31,586 6.552 2,516 9,826 6,351 93,186 41?19 38WS 29,403 1,666 2.207 40,937 85,922 22.327 968 520 5,166 10,100 5,420 693 1,797 1093 9.470 556 2,242 720 12060 1.911 5,865 708,049 705,415 GOVERNANCE COSTS Audit and Accountancy Fees 9J60 9J60 4,580 4,580 33
OTHER EXPENDITURE Interest Payable and Similar Charges 1,347 2,010 TOTAL EXPENDITURE 718,756 712,005 NET OUTGOING RESOURCES FOR THE YEAR (158,412) (123,671) 34
LOUGHGIEL COMMUNITY ASSOCIATION LTD DETAILED STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2023 2023 2022 CHAIUTABLE ACTIVITIES Charitable activity Activilies undertaken dlrectly Staff costs - Wages & Salaries Staff costs - Employerfs NIC Staff costs - Pensions Establishment - Other Bus Hire Catering and Activities Mileage and Travel Programme Costs IT- Apps Hire of Equipment 344,352 22,893 12,637 5,022 317,841 20,290 12,874 2,516 41J19 10,015 38,805 1,893 1,911 40.937 9.826 85,992 10,100 479227 500,306 Support costs Bstablishment - Light & heat Establishment - Repairs & maintenance Establishment - Insurance Office expenses - Telephone Depreciation General Expenses Printing, Postage and Stationery Membership Renl, Rates & Water Security Volunteer Expenses Advertising Equipment and Malerials Consultancy 46867 17.606 7,445 7,708 90,072 29,473 24,678 31,586 6,552 6,351 93,186 22,327 968 520 1,797 5,166 5,420 693 5,865 2242 9,470 556 12,860 720 228022 708,049 205.109 705,415 705,415 708,049 35