Ards Development Bureau & Community Network
ststement of Financial Activities (incorporating the Income and Expenditure Account)
For the Year Ended 31 March 2024
funds
Total
2024
Total
2023
Income from:
Grants
Other income
Bank interest
250,830 250,830
18,885
237
321,482
14,833
68
18,885
237
Total income
18,885
251.067
269.952
336,383
Expenditure on:
Charitable activitles
Direct costs
Support &
Govemance costs
182.933 182,933
200,282
93,567
93,567
91,345
Total expenditure
276,500 276.500
291,345
Net Incomel(expenditure>
18,885
{25,433) (6,548)
44,756
Transfers between funds
Net movement In funds
18,885
(25,433) (6,548)
44,756
Reconciliation of funds:
Total funds brought foDNard
220,768
1,139,015 1,359.783
1,315,027
Fund balances at 31 March
2024
239,653
1,113,582 1,353,235
1,359,783
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the ￿qUirements for an income and expenditure
account under the Companies Act 2006.

Ards Development Bureau & Community Network
Balance Sheet
For the Year Ended 31 March 2024
2024
2023
Fixed assets
Tangible assets
1,357,316
1,357,326
1,357,316
1.357,326
Current a&sets
Debtors
Cash at bank and in hand
45,985
55,836
33,954
79,983
101,821
113,937
Creditors: amounts falling due within one year
(105,902)
(111,480)
Net current assets
(4,081)
2,457
Total assets less current liabiltties
1,353,235
1,359,783
Income funds
Restricted funds
Unrestricted funds
10 1,113,582
239.653
1,139,015
220,768
Total charlty funds
1,353.235
1,359.783
The company is entitted to the exemption from the audit requirement contained in section 477 of the
Companies Act 2006 for the year ended 31 March 2024. No member of the company has deposited
noti￿, pursuant to section 476, requiring an audit of these accounts under the requirements of the
Companies Act 2006.
The trustees acknowledge their responsibiltties for ensuring that the charity keeps accounting records which
comply with 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 reSoUr￿S and application of
resources, including its income and expenditure, for the financial year in accordance with the requirements
of sections 394 and 395 and which otherbwse compty with the requirements of the Companies Act 2006
relating to accounts. so far as applicable to the company.
These accounts have been prepared in accordance with the provisions applicable to companies, subject to
the small companies, regime.
The financial staternents were approved and authorised for issue by the Board on 4 December 2024.
Signed on behalf of the board of trustees
J Gill
Trustee
D W McAlonan
Trustee & Chair
Company Registration No. N1037588
10

Ards Development Bureau & Communty Network
Notes to the Financial Statements
For the Year Ended 31 March 2024
Summary of significant accounting policies
(a) General infomiation and basis of preparation
Ards Development BU￿aU & Community Network is a prrvate company limited by guarantee,
registered in Northern Ireland and a registered charity in Northem Ireland. The address of the
registered office is 55-55A Frances Stree( Newtownards, Co. Down, BT23 7D
The charity constitutes a public benefft enb'ty as defined by FRS 102. The financial ststements have
been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charits'es 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 Stsndard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities
Act (Northem Ireland) 2008, the Companies Act 20(￿ and UK Generally Accepted Accounting
Practs"ce.
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 1A.
The financial statements are prepared on a going concem basis under the historical cost convention,
modified to include certain items at fair value. The financial statements are presented in sterling which
is the fvnctional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial ststements are set out
below. These poliaes have been consistentty applied to all years presented unless otherwise stated.
(b) Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of th8 general
objectives of the charity and which have not been designated for other purposes.
Designated fvnds comprise unrestricted funds that have been set aside by the trustees for particular
purposes. The aim and use of each designated 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
administering 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
Al incoming resources are included in the Statement of Financial Actrvities (SOFA) when the charity is
legally entitled to the income after any performance conditions have been met, the amount can be
rneasu￿d reliabty. and it is probable that the income will be r￿1ved.
Voluntary income is received by way of grants, donations and gffts and is included in the full Statement
of Financial Activities when re￿ivable. Grants, where entitlement is not conditional on the delivery of a
specific performance by the charity. are recognised when the charity becomes unconditionally entitied
to the grant.
Donated facilities and donated professional services are recognised in income at their fair value when
their economic benefit is probable, tt can be measured reliably, and the Charity has control over the
item. Fair value is detemiined on the basis of the value of the gift to the charity. For example, the
11

Ards Development Bureau & Community Nelwork
Notes to the Financial Statements
For the Year Ended 31 March 2024
amount the charity would be willing to pay in the open market for such facilities and seNices. A
corresponding amount is recognised in expenditure.
No amount is included in the financial statements for volunteer time in line wth the SORP (FRS 102).
Further detail is given in the Trustees, Annual ReporL
Income derived from events is recognised as eamed (that is, as the related goods or sen11￿S are
provided).
Investment income is induded when r￿1vable.
Income from charitable actNities includes income recognised as earned (as the related goods or
services are provided) under contract or where entitlement to grant funding is subject specific
perfomiance conditions. Grant income induded in this category provides funding to support
programme activities and is recognised where there is entitlement, probable receipt and the amount
can be measured with sufficient reliability.
(d) Expenditure r￿OgnitIon
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs ￿lated to the category. Expenditure is recognised where there is a legal or
constructive obligation to make payments to third parties, tt 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 fvnds.,
Expenditure on charitsble activitses includes,. and
Other expenditure represents those items 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 Offi￿ costs, govemance costs, administrative payroll costs. They are incurred
directly in support of expenditure on the objects of the charty. Where support costs cannot be directly
attributed to particular headings, they have been allocated to cost of raising funds and expenditu￿ on
charitsble activities on a basis consistent wtth use of the resources
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs
of disseminating infomation in support of the charitable activities.
(fj Tangible 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 provided 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:
Frxtures and fittings
33% per annum reducing balance
12

Ards Development Bureau & Community Network
Notss to the Financial Statements
For the Year Ended 31 March 2024
Computer equipment
Motor vehicles
20% per annum reducing balan
25% per annum reducing balan
(g) Debtors and creditors receivable I payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impaimient are recognised in expenditure.
(h) Loans and borrowtngs
Loans and borrowings are initially recognised at the transaction price including transaction costs.
Subsequently, they are measured at amortised cost using the effective interest rate method. less
impairment. If an arrangement consts"tutes a finan￿ transaction it is measured at present value.
(l) Impairnient
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at
each balance 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 carying amount whe￿ the carying amount
eX￿edS 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.
U) Provisions
Provisions are recognised when the charfty has an obligation at the balance sheet date as a result of a
past event, it is probable that an oufflow of economic benefits will be required in settlement and the
amount can be reliably estimated.
(k) Leases
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 be￿een the
finance charge and the reduction of the outstanding lease liability using the effective interest method.
The related obligations, net of future finan￿ charges, are included in creditors.
Rentals payable and r￿1Vable under operating leases are charged to the SOFA on a straight-line
basis over the period of the lease.
11) Employee beneffts
When employees have rendered service to the charity, short-term employee benefits to which the
employees are entitled are recognised at the undiscounted amount expected to be paid in exchange
for that service.
The charty operates a defined contribution plan for the benefit of its employees. Contiibutions are
expensed as they become payaDIe.
(m) Tax
The charty is an exempt charity wtthin the meaning of schedule 3 of the Charities Act 2011 and is
considered to pass the tssts 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 & Communty Network
Notes to the Financial Statements
For the Year Ended 31 March 2024
(n) Going concern
The financial statements have been prepared on a going concem basis as the trustees believe that no
material Un￿rtaIntieS exist. The trustees have considered the level of fijnds 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 reserves for the charity to be able to
continue as a going concem.
Training and investment income
Unrestricted
Restricted
2024
2023
Revenue grant income
250,830
250,830
321,482
250,830
250, 830
321,482
Other income
Unrestricted
Restricted
2024
2023
Rental income
18,885
18,885
14,833
18,885
18,885
14,833
Income from investments
2024
2023
Interest receivable
237
68
237
68
14

Ards Development Bureau & Community Network
Notes to the Financial Statements
For the Year Ended 31 March 2024
Project costs
Unrestricted
Restricted
2024
2023
Wages and salaries
Staff pension costs
Printing postage stationery
Rent
Donations
Family povety packs
Mentoringlfacilitstion
Event costs
61,075
4,954
3,267
6,997
61.075
4,954
3,267
6,997
59,214
4,299
2,318
4,515
70.210
36,430
70,210
36,430
60,731
69,205
Total
182,933
182,933
200,282
Governance and support costs
Unrestricted Restricted
2024
2023
Wages and salaries
staff pension costs
Staff training costs
Insurance
Light & heat
Repairs and maintenance
Cleaning
Postage & ststionery
Telephone
Computer expenses
Travelling expenses
Legal and professional
Accountancy
Bank charges and interest
Loan interest
Sundry expenses
Depreciats'on on computer equipment
Depreciab'on on office equipment
Depreciation on motor vehicles
26,175
2,123
26,175 25,377
2,123
1,843
5,585
13,706
4,406
2.556
135
6,538
634
5,637
658
1,740
448
7,506
4,050
8.495
296
4,219
5,585
8,848
13,706
9,056
4,406 12,286
2,556
2,665
135
1,545
6,538
5,440
634
711
5,637
3,094
658
318
1,740
2,085
589
7,506
4,050
8,495
296
4,219
4,050
7,369
5.625
93,567
93,567
91,345
15

Ards Development Bureau & Community Network
Notes to the Financial Statements
For the Year Ended 31 March 2024
Tangible r￿ed assets
Land and
buildings
freehold
Computer
equipment
Office
furniture and
fftts'ngs
Motor
Vehicles
Total
At 1 April 2023
Additions
Disposals
1,310,088
142,276
13,000
68,004
30.000
1,550,368
13,000
At 31 March 2024
1,310.088
155,276
68,004
30,000
1,563,368
Depreciation:
At 1 April 2023
Charge for the year
On Disposal
112,802
8,495
67,115
296
13,125
4,219
193,042
13,010
At 31 March 2024
121,297
67,411
17,344
206,052
Net book value-
At 31 March 2024
1 310 088
593
1357 316
At 31 March 2023
1310 088
889
1357 326
Debtors
2024
2023
Accrued income
Other debtors
41.945
4,040
33,954
45,985
33,954
16

Ards Development Bureau & Community Network
Notes to the Financial Statements
For the Year Ended 31 March 2024
Creditors: amounts falling due withln one year
2024
2023
Loans
Trade creditors
Other tax and social securty
Accruals and deferred income
96.040
7,063
714
2,085
98.660
8,119
2,616
2,085
105,902
111,480
10 Restricted fvnds
Balan￿ at Income
2023
Expenditure
Transfers
Balance at
2024
Other reserves
Premises
modernisation
Project
Outreach
Community
Resource
Centres
Scrabo Project
83,251
1,040,194
251,067
(276,500)
57,818
1,040.194
7,054
7,054
8.516
8,516
1,139,015
251,067
(276,500)
1,113,582
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 totsl cost to date of land and buildings freehold as shown
in note 7.
The Outreach Cornmunty Resource Centres funds relate to the purchase and depreciation of
computers for these centres.
The Scrabo Project funds relate to the ongoing project in Newtownards.
11 Contingent liabilities
The grants received are subject to repayment rf conditions relevant to their payment do not continue to
be meL EX￿pt for the above there are no other commitments and contingencies requiring disclosure.
17

Ards Development Bureau & Community Network
Notes to the Financial Statements
For the Year Ended 31 March 2024
12 Trustees
None of the trustees (or any person connected with them) re￿iVed any remuneratr'on or beneffts
from the charity during the year.
13 Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Employees
14 Staff costs and employee benefits
No employees received total employee beneffts (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 charty is within
the exemption granted by Section 505 of the Income and Corporation Taxes Act 1988.
16
Company limited by guarantee
The company is limrted by guarantee. The liability of each member És limited to £1 each.
17
Related party transactlons
There were no related paty trans￿tionS during the year.
18