Charity Reglstration No. NIC103563 Company Registration No. N1037588 (Northern Ireland) Ards Development Bureau & Community Ne￿￿orf[ Company Limited by Guarantee Trustees, Report and Unauditsd Accounts Year Ended 31 March 2023 Ards Development Bureau & Community Network Financial Statements Year Ended 31 March 2023 Contents Page Charity Reference and Administrative Details Trustees, Annual Report Independent Examinerfs Report statement of Financial Activities Balan￿ Sheet Notes to the Financial Statements 4-7 10 11-18 Ards Develownent Bureau & Community Netwo Charity Reference and Administrative Details Year Ended 31 March 2023 Charity registratlon number NIC103563 Company numbgr N1037588 Trustees D W McAlonan P M Balloch J S E Bickerstaff K Johnston J Gill A McGowan D Hawthorne A Osman resigned 18 October 2022 resigned 8 March 2023 resigned 18 October 2022 Secretary Cathy Polley Reglstered office & Buslne88 address 4345 Frances Street Newtownards Co. Down BT23 7DX Independent examiner Guardian Chartered Accountants 2 William Street Newtownards Co. Down BT23 4AH Bankers Ulster Bank 22 Frances Street Newtownards Co. Down BT23 7DP Ards Development Bureau & Community Network Trustees, Annual Report Year Ended 31 March 2023 The Trustees present their report and the financÉal statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP) ' "Accounting and Reporting by Charities. (FRS 102) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing documen( the Charities Act (Northern Ireland) 2008 and Accounting and Reporting by Charib'es: Statement of Recommended practi￿ applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). Structurei governance and management The charity is a company lirnited by guarantee. The trustees, who are also directors for the purpose of company law, and who have served during the year and since the year end were: D W McAlonan P M Balloch J S E Bickerstaff K Johnston J Gill A McGowan D Hawthorne A Osman resigned 18 October 2022 resigned 8 March 2023 resigned 18 October 2022 The company actively promotes a t)oard of trustees which includes a range of skill, experience and knowledge in keeping with the pursuance of its Objects and to this end it is entitled to advertise and interview eligible candKlates to be potential trustees of the board. The Board consists of 8 members. In addition to the Board meetings Ihere are tsvo sub(b) of the 2008 Act., and (iii) to state whether particular matters have come to my attentlon. Basis of Independent examlnerfs report My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audlt and consequently no opinion is given as to whether the accounts present a 'true and fair view. and the reporl is lirnited to those matters set out in the next statement. Independent examlnérfs statemant In connection with my examination, no matter has come to my attention.. (a) which gives me reasonable cause to believe that in any material respect the requirements: to keep accountlng records in accordance with section 386 of the Companies Act 2006; and lo prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companie5 Act 2006 and with the methods and principles of the Statement of Recomrnended Practice: Accountin9 and Reporting by Charities; have not been met or (b) to which, in my opinion, attention should be drawn in order to enable a proper undefstanding of the accounls to be reached. R. Colin Stewart for and on behalf of Guardian Chartered Accountants 2 William Street Newtownards Co. Down BT23 4AH Dated= 20 December 2023 Ards evelopment Bureau & Communty Network statement of Financlal Activities (incorporating the Income and Expenditure AcGOUllt) For the Year Ended 31 March 2023 tunds Total 2023 Total 2022 Income from: Grants Other income Bank interest 321,482 321,482 14,833 68 295,603 14,655 14833 68 Total Income 14,833 321,550 336.383 310,264 Expendlture on: Charltable activities Direct costs Support & Govemance costs 200,282 200,282 250,488 91,345 91,345 88,100 Total expendituro 291,627 291,627 338,588 Net InGomellexpendlture) 14,833 29,923 44,756 (28,324) Transfefs between funds Net movement In fund5 14,833 29,923 44,756 (28,324) Reconclllation of funds: Total funds brought fomard 205,935 1,109,092 1,315,027 1,343,351 Fund balances at 31 March 2023 220,768 1,139,015 1.359,783 1,315,027 The statement of financial activities includes alt gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements fr)r an incom8 and expenditure account under the Companies Act 2006. Ards Development Bureau & Community Neknork Balance Sheet For the Year Ended 31 March 2023 2023 2022 Flxed assets Tangible assets 1,357,326 1.196,577 1,357,326 1.196,577 Current assets Debtors Cash at bank and in hand 33,954 79,983 57,266 109,013 113,937 166.279 Creditors: amounts falling due withln one year {111,480) (47,829) Not curront assets 2,457 118,450 Total assets less current Ilabllltl88 1,359,783 1,315.027 Income funds Restricted funds Unrestricted funds 10 1,139,015 220.768 1,109,092 205,935 Total charlty fund8 1,359,783 1,315,027 The company is entitled to the exemption from the audit requirement contained In section 477 of the Companies Act 2006 for the year ended 31 March 2023. No member of the company has deposited a notice, pursuant to sects.on 476, requir5ng an audit of these accounts under the requirements of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply Wlth section 386 of the Act and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expendiiure, for the financial year in accordance with the requirements of sections 394 and 395 and which othetwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. These accounts have been Prepared in accordan￿ with the provisions applicable to companies, subject to the small companies, regime. The financial statements were approved and authorised for issue by the Board on 20 ￿e￿mber 2023. Signed on behalf of the board of trustees J Gill Trustee D W McAlonan Trustee & Chair Company Registration No. N1037588 10 Ards Development Bureau & Community Nelwork Notes to the Financial Statements For the Year Ended 31 March 2023 Summary of slgnificant accounting policies (a) General inforniation and basis of preparation Ards Development Bureau & Community Network is a private company limited by guarantee, registered in Northem Ireland and a registered charity in Nothern Ireland. The address of the registered office is 4345 Frances Stree( Newtownards, Co. Down, BT23 7DX. The charity constrlutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 {as updated through Update Bulletin 1 published on 2 February 2016), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act (Northern Ireland) 2008. the Companies Act 2006 and UK Generally Accepted Accounting Practice. The Charity has applied Update Bulletin 1 as published on 2 February 2016 and does not Include a cash flow statement on the grounds that it is applying FRS 102 Section 1 The financial statements are prepared on a going concem basis under the historical cost convention, modified to include certain items at faiT value. The financial statements are presentsd in sterling which is the functional currency of the chatity and rounded to the nearest £. The significant accounting polictes applied in the preparation of these financial statements are set out below. These policles have been consistently applied to all years presented unless othe￿ise stated. (b) Funds Unrestricted funds are avaiEable for use at the discretion of the trustees in furtheran￿ of the general objectives of the chaTity and which have not been desvJnated for other purposes. Deslgnated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. The aim and use of each desgnated fund is set out in the notes to the financial statements. 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 8dministering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. (c) Income recognition All incoming resources are included in the Statement of Financial Activities (SOFA) when the charty is legally entitled to the income after any performance conditions have been met. the amount can be measured reliably, and it is probable that the income will be received. Voluntary income is received by way of grants, donations and gifts and is included in the full Statement of Financial Activities when receivable. Grants, where enb"tlement is not conditional on the delivery of 8 specific performance by the charity, ale ￿cognIS&j when the charity becomes unconditionally entitled to the grant. Donated facilrties and donated professional semces are recognised in income at their fair value when their economic benefft is probable, it can be measured reliably. and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example. the 11 Ards Development Bureau & Community Networfi Notes to the Financial Statements For the Year Ended 31 March 2023 amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is iecognised in expenditure. o amount is included in the financial statements for volunteer ts.me in line with the SORP (FRS 102). Further detail is given in the Trustees, Annual Report. Income derived from events is recognised as earned (that És, as the related goods or services are provided). . Investment income is included when re￿1Vable. Income from charitable activlties includes income recognised as earned (as the related goods or services are provided) under contract or where entitlement to grant funding is subject specific performance conditions. Grant income included in this category Provides funding to support programme activities and is recognised where there is entitlement, probable re￿[pt and the amount can be measured with sufficient reliability. Id) Expendltur8 recognltlon All expenditure ts accounted for on an accruals basls and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or construclive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following headings.. Costs of raising funds: Expenditure on charitable activÉties indudes; and Other expenditure represents those item5 not falling into the categories above, Irrecoverable VAT is charged as an expense against the activity for which expenditure arose, (e) Support costs allocation Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governan￿ costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity- Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable actNities on a basis consistent with use of the resources Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable acttvities. If) Tangibla fixed assets Tangible fixed assets. other than freehold land & buildings. are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Depreciation is PTovided on all tangible fixed assets. at rates calculated to write off the cost. less estimated residual value, of each asset on a systematic basis over its expected useful life as follows: 33% per annum reducing balan 12 Fixtures and fittings Afds Development Bureau & Community Idetwork Notes to the Financial Statements For the Year Ended 31 March 2023 Computer equipment Motor vehicles 20% per annum reducing balance 250A per annum reducing balance (g) Debtors and creditors recelvable I payable within ono year Debtors and creditors with no stated interest rate and receivable or payable wthin one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure. (h) Loans and borrowlngs Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, fhey are measured at amortised cost using the effective interest rate method, less impairment If an arrangement constitutes a finance transactbon it is measured at present value. (i) Impalmient Assets not measured at fair value are ￿vieWed for any indrcation that the asset may be impaired at each balan￿ sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. Ul Provisions Provlslons are recognlsed when the charty has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated. (k) Lease8 Assets acquired under finance leases are capitalised and depreciated over the shorter of the lease term and the expected useful life of the asset. Minimum lease payments are apportioned beÉween the finance charge and the reduction of the outstanding lease liability using the effective interest method. The related obligations, net of future finance charges, are included in creditors. Rentals payable and receivab￿ under operating leases are charged to the SOFA on a straight-line basis over the period of the lease. (l) Employee benerrts INhen employ&s have rendered Servi￿ to the charity. short-term employee benefits to which ihe employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. The charity operates a defined contributK>n plan for the benefit of its employees. Contributions are expensed as they become payable. (m) Tax The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. 13 Ards Development Bureau & Community Network Notes to the Financial Statements For the Year Ended 31 March 2023 (nl Going conceyn The financial statements have been prepared on a going con￿rn basis as the tiustees believe that no material uncertainlies exist. The trustees have (x)nsidered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of resepies for the charity to be able to continue as a going concern. Training and Investment incomo Unrestricted Restricted 2023 2022 Revenue grant income 321,482 321,482 295,603 321.482 321,482 295,603 other Income Unrestricted Restricted 2023 2022 Rental income 14,833 14,833 14.655 14,833 14,833 14,655 Income from investments 2023 2022 Interest receivable 68 14 Ards Development Bureau & Community Network Notes to the Financial Statements For the Year Ended 31 March 2023 Project costs Unrestricted Restricted 2023 2022 Wages and salaries staff pension costs Printing postage stationery Rent Donations Family poverty packs Mentoringlfacilitation Event costs 59.214 4.299 2,318 4,515 29.214 4,299 2,318 4,515 61,037 3,941 1,860 12,022 6,750 1,416 121,407 42,055 60,731 69,2Q5 60,731 69,205 Total 200,282 200,282 250',488 Governance and support costs Unrestricted Restricted 2023 2022 Wages and salaries staff pension costs staff training costs InsuTance Light & heat Repairs and maintenance Cleaning Postage & stationery Telephone Computer expenses Travelling expenses Legal and professional Accountancy Bank charges and interest Sundry expenses Depreciation on computer equipment Depreciation on office equipment Depreciation on motor vehicles 25,377 1,843 25,377 26,414 1,843 1,689 1,160 5,373 9,267 3,941 3,084 2,861 5,198 529 4,038 1,189 1,919 555 4,780 7,937 666 7,500 8,848 9.056 12.286 2,665 1.545 5,440 711 3,094 318 2,085 589 4,050 7,369 444 5,625 8,848 9,056 12,286 2,665 1,545 5,440 711 3,094 318 2,085 589 4,050 7,369 444 5,625 91,345 91,345 88,100 15 Ards Development Bureau & Community Network Notes to the Financial Statements For the Year Ended 31 March 2023 Tanglble flxed assets Land and buildings freehold Computer equipment Office fumiture and fittings Motor Vehicles Total Cost: At 1 April 2022 Additions Disposals 1,140,996 162.092 137,181 5,095 68,004 30,000 1,376,181 174,187 At 31 March 2023 1,310,088 142,276 68,004 30,000 1,550,368 Depreclatlon: At 1 April 2022 Charge for the year On Disposal 105,433 7,369 66,671 444 7,500 5,625 179,604 13,438 At 31 March 2023 112.802 67,115 13,125 193,042 Net book value: At 31 March 2023 1310 088 889 1357 326 At 31 March 2022 1140 996 1 196 577 Debtors 2023 2022 Accrued income 33,954 57,266 33.954 7,266 16 Ards Development Bureau & Community. Nelwork Notes to the Financial Statements For theyear Ended 31 March 2023 Creditors- amounts falling due within one year 2023 2022 Loans Trade creditors other tax and social security Accruals and deferred income 98,660 8,119 2.616 2,085 42,010 3,754 2,085 111,480 47.829 10 Restricted funds Balance at Income 2022 Expenditure Tiansfers Balance at 2023 Other reseNes Premises modernisation Project Outreach Community Resource Centres Scrabo Project 53,328 1.040,194 321,550 (291,627) 83,251 1,040,194 7.054 7,054 8,516 8,516 1,109,092 321,550 (291,627) 1,139,015 The other restricted reserves relate to ongoing projects within the charity. The Premises Modernisation Project relates to the cost of the purchase and refurbishment of the building at 4345 Frances Street and is the total cost to date of land and buildings freehold as shown in note 7. The Outreach Community Resource Centres fvnds relate to the purchase and depreciation of computers for these centres. The Scrabo Project funds relate to the ongoing project in Newtownards. 11 Contlngent Ilabilitles The grants received are subject to repayment if conditions relevant to their payment do not continue to be met. Except for the above there are no other commitments and conts'ngencies requiring disclosure. 17 Ards Development Bureau & Conimunity Network . Notes to the Financial Statements For the Year Ended 31 March 2023 12 Trustees None of the trustees (or any person connected with them) received any remuneration or benefits from the charity during the ye￿. 13 Employees The average monthly number of employees during the year was= 2023 Number 2022 Number Employees 14 Staff costs and employee beneflts No employees re￿iVed total employee benefits (excluding employer pension costs) of more than £60,000. 15 Taxatlon No corporation tax has been provided in these accounts because the income of the charity is within the exemption 9ranted by Section 505 of the Income and Corporation Taxes Act 1988. 16 Company Ilmlted by guarantee The company is limited by guarantee. The liability of each member is limited to £1 each. 17 Related party transaclions There were no related party transactions during the year. 18