Finnard Rural Development Association Annual Report and Receipts and Payments Account For the period 1st April 2023 to 31st March 2024 Northern Ireland Charltles Number: 103492 Finnard Rural Development Association Contents Page Charity Information Trustee's Annual Report Independent Examiner's Report to the Trustees Statement of Receipts and Payment5 Statement of Assets and Liabilities Notes to the Financial Statement5 10-11 Finnard Rural Development Association References and admlnlstrative details Charity Name: Finnard Rural Development Association Charity Registration Number: 103492 Contact Address: William Mitchell 38 Ballykeel Road Rathfriland Co Down BT34 5AZ Trustees: Mr Keith Hamilton Mrs Diane Graham Mrs Eleanor Henning Mrs Sharon Magowan Mr John Magowan Mrs Andrea Barr Mrs Allison Niblock Mr William Niblock Mr Rodney Hamilton Mr William Mitchell Mrs Audrey Henning Mrs Sally Ann Magowan Independent Examiner: S.M. Vint & Co 8 Newry Road Banbridge BT32 3HN Bankers: Danske Bank FRDA 2024 Annual Report for the year ended 31st March 2024. The trustees of Finnard Rural Development Association are pleased to submit st st their report and accounts for the period l April 2023 to 31 March 2024 Achievements and Performance Meeting Programme There were two meetings with an average attendance of seven. Activities Throughout the Year As in previous years the main activity has been Highland Dancing classes which are held on a regular weekly basis. Post CoVid-19 guidance in respect of social interactions involving group settings is followed and monitored by the committee. The classes have been well attended and have had competition success under the excellent tuition of Kathryn Stewart. Membership At 31 March 2024 there were 12 members of the association. st Accommodation The association continues to use the facilities of Finnard Orange Hall and is grateful to the lodge for their continued support. FRDA 2024 Financial Review Financial Performance Financial performance has continued to be strong with a closing balance of £1,120. Income Income receipts for the year totalled £3,683. The association's income is generally healthy and remains consistent with previous performance. Expenditure Expenditure for the year totalled £3,397. and was mainly in respect of dance tutor fees and insurance, Financial Management The Association continues to use the services of a Chartered Accountancy practice to ensure that the requirements of The Charities ( Accounts and Reports ) Regulations {Northern Ireland) 2015 are being met. The Association continues to maintain a small reserve of funds to better allow it to meet the funding challenges which the wider economic situation may impose. Securing external funding is becoming more difficult and the Association continues to review its own funding opportunities to maintain its ability to provide for the needs of the local community. Accounts for the Year ended 31" March 2024 { Please refer to the attached accounts ). FRDA 2024 Reference and Administrative Details Charity Name Finnard Rural Development Association Charity Number Registered in Northern Ireland, NIC103492 Principal Address 47 Old Newry Road, Rathfriland, Newry, Co. Down BT34 5BQ st Charity Trustees in the year to 31 March 2024 Chairman /Child Protection Officer WILLIAM MITCHELL MR WILLIAM NIBLOCK Vice-chairman KEITH HAMIL TON Secretary MRS DIANE GRAHAM Treasurer MRSANDREA BARR Publicity Officer / Catering MRS ALLISON NIBLOCK Catering MRS ELEANOR HENNING Catering MRS SHARON MAGOWAN MRJOHN MAGOWAN MR RODNEY HAMIL TON MRS AUDREY HENNING MRSSALLYANN MAGOWAN { Kathryn Stewart { during Highland Dancing) - Child Protection Officer ) FRDA 2024 Advisors Banking Danske Bank, 37-39 Bridge Street, Banbridge, BT32 3JL S. M. Vint & Company,8 Newry Road, Banbridge, BT32 Accountancy Strurture, Governance and Management Governing Document and Management th The Association is governed by a constitution adopted on 19 April 2007 and last amended on r January 2016. The Association is run entirely by its committee members (trustees) and as of 31" March 2024 there were 12 members. Trustee Selection and Management The Association is managed by a Committee which consists of all the appointed Trustees. A number of trustees also hold offices within the association as noted in the list of current trustees above. The committee typically meets four times per year. At each meeting the minutes are read out, the Treasurer reports on the latest accounts, correspondence is reviewed and the committee discuss plans for any future special events or projects. The Annual Report and Statement of Accounts are presented at the Annual General Meeting and approved by the Trustees / Committee Members. Objertlves and Artivities Charitable Objectives The object of the Association, as set out in our Constitution, is to promote the benefit of the inhabitants of the Finnard area and its environment and to advance knowledge and appreciation of the Ulster Scots music, language and culture and to encourage understanding and acceptance of all cultures in the area of benefit. FRDA 2024 Publlc Benefit Statement The Trustees of Finnard Rural Development Association confirm that they have complied with their duty with regard to the Charity Commission for Northern Ireland's guidelines on public benefit and that the public benefit requirement st has informed the activities of the association in the year to 31 March 2024. In evaluating public benefit the trustees note that membership of the association is open to all persons from the community. Summary of Main Activities The core activities of the Association are Promote knowledge and appreciation of the Ulster Scots culture Encouraging understanding and acceptance of all cultures in the area Provide opportunity for the community to come together by planning events and activities that are open to all. Our philosophy is to offer to all, opportunities for community integration and cooperation regardless of personal circumstances, race, gender, ability or faith. st Approved and adopted at a meeting of the Committee on 21 October 2024 and signed on their behalf. Keith Hamilton Secretary Independent Examiner's Report to Finnard Rural Development Association I report on the accounts of the charity for the period ended 31st March 2024 which are set out on pages 8-9. Respective responsibilitie5 of Trustees and Examiner As the charitvs trustees you are responsible for the preparation of the accounts in accordance with the Charities Act (Northern Ireland) 2008. It is my responsibility to: examine the accounts under section 65 of the Charities Act; follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 6519)(b) of the Charities Act; and State whether particular matters have come to my attention. Basls of Independent Examlner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{9)(b) of the Charities Act. My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual iterns or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any My role is to state whether any material matters have come to my attention giving me cause to l. That accounting records were not kept in accordance with section 63 of the Charities Act 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of the Charities Act 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner'5 Statement I have completed my examination and have no concerns in respect of the matters (l) to {4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Thomas Vint FCCA For and behalf of S.M. Vlnt & Co Chartered Certified Accountants & Registered Auditors 8 Newry Road Banbridge BT32 3HN 21st October 2024 Finnard Rural Development Association Statement of Receipts & Payments for the period ended 31st March 2024 Unrestricted Restricted Note funds funds Prior year Total funds total fund5 Income and endowments from: Donations Grant5 Total income 951 951 2,732 3,682 1,121 3,328 4,449 2,732 2,732 951 Expenditure on: Raising Funds Charitable Activities Total expendlture Net Income / {expendlture) resources 1,343 1,343 2.053 3,396 286 1,048 2,494 3,542 907 2.053 2,053 679 1,343 -393 Finnard Rural Development Associatlon Statement of Assets & Liabilities- Period Ended 31st March 2024 2024 2023 Reconclllation of funds at 31.03.24 Total funds brought forward Surplus/(deficit} this year end Total funds carried forward 5,837 286 6,123 4,930 907 5,837 Bank & Cash Balances Cash at bank and in hand 6,123 6,123 5,838 5,838 Represented bv Unrestricted funds Restricted funds Total Funds 6,123 5,838 6,123 5,838 Notes on pages 10 to 11 are an integral part of these financial statements. The financial statements on pages 8 to 9 were approved by the Board of Trustees on 3110312024 and signed on its behalf by: Mr William Mitchell- Trustee Finnard Rural Development Associatlon Notes to the financial statements for the period ended 31st March 2024 l. Accounting pollcies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follow5: a) Preparation of accounts on a going concern basis The charity generally meets its day to day working capitsl requirements from its annual income. The Trustees have obtained and reviewed cash flow forecasts for the coming year and based on these are satisfied that the charity has resources to provide a reasonable expectation that it can continue to meet its financial obligations as they fall due for the foreseeable future. Therefore these financial statements have been prepared on a going concern basis b) Income Income is accounted for on a cash receipts basis as the amount is collected and are allocated as either restricted or unrestricted funds according to the terms of the donation. c) Expenditure Expenditure is recognised on a cash payments basis. d) Cash and Cash equivalents Cash and cash equivalents include5 cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. e} Funds Funds are classified as either restricted funds or unrestricted funds, defined as follows: Restricted fund5 are funds subject to specific requirements as to their use which may be declared by the donor or with their authority or created through legal processes, but still within the wider objects of the Club. Unrestricted funds are expendable at the discretion of the trustees in furtherance of the objects of the charity. If parts of the unrestricted funds are earmarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an administrative purpose only and does not legally restrict the trustees, discretion to apply the fund. 2. Fundraising Unrestrlcted Restrlcted Total 2024 Total 2023 Donatlons Grants 951 951 2,732 1,121 3,328 2,732 951 2,732 3,682 4,449 11 3. Analysis of Expenditure Unrestrirted Restricted Total 2024 Total 2023 Ralsing Funds Insurance 640 600 103 640 600 103 600 300 148 Accountancy Bank Fees 1,343 1,343 1,048 Charltable Activities Highland Dance Food for Meetings Currys - New Speaker Forsythe Consulting Ltd Miss L Spence- Ulster Scots Workshop Mr A Kernaghan - Brexit Talk Richard For5ythe- Talk 2,053 2,053 2,415 79 2.053 2,053 2.494 Total Expendlture 1,343 2,053 3.396 3,542 4. Anatysls of trustee remuneration and expenses. No Trustee received any payments other than for out of pocket expenses incurred.