Ards Development Bureau & Community Network Statement of Financial Activities (incorporating the Income and Expenditure Account) For the Year Ended 31 March 2025 Llnre5tricbJ Resthctsd frjfyjs Total 2025 Total 2024 Incomè from: Grants Other income Bank interest 308,552 308.552 8,054 109 250,830 18,885 237 8,054 109 Total Income 8,054 308,661 316.715 269,952 Expenditure on: Charitable activities Direct costs Support & Govemance costs 196,219 196.219 182,933 115,317 115,317 g3,567 Total expenditure 311,536 311,536 276,500 Net incomel(expenditure) 8.054 (2,875) 5,179 (6.548> Transfars between funds Net movement in funds 8.054 (2,875) 5,179 (8,548) Reconciliation of funds". Total funds brought forward 239,653 1,113.582 1,353,235 1,359,783 Fund balances at 31 March 2024 247,707 1,110,707 1,358,414 1,353,235 The statement of financial activities includes all gains and losses recognised in the year. All income and expendtture derive from conbnuing activities. The ststement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
Ards Development Bureau & Community Network Balance Sheet For the Year Ended 31 March 2025 2025 2024 Fixed assets Tangible assets 1,351,159 1,357,316 Current assets Debtors Cash at bank and in hand 1,351,159 1,357,316 57,805 83,307 45,985 55,836 141,112 101,821 Creditors: amounts falling due within one year (133,857) (105,902) Net current assets 7,255 <4,081) Total assets less current liabilities 1,358,414 1,353,235 Income funds Restricted funds Unrestricted funds 10 1,110,707 247,707 1,113,582 239,653 Total charity funds 1,358,414 1,353,235 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 2025. No member of the company has deposited a notice, pursuant to section 476, requiring an audit of these accounts under the requirements of the Companies Act 2006. The trustees acknowledge their responsibilities for ensuring that the charity keeps accounts'ng 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 resources 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 othejwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. Thése accounts have been prepared in accordance with the provisions applicable to companies, subject to the small companies, regime. The financial ststements were approved and authortsed for issue by the Board on 17 December 2025. 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 Statsments For the Year Ended 31 March 2025 Summary of signrFicant accounting policies (a) General rnforniation and basis of preparation Ards Development Bureau & Community NeOrk is a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 55-55A Fran$ Stree( Newtownards, Co. Down, BT23 7DX. The charity constitutes 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 applirAble in the UK and Republic of Ireland (FRS 102) issued on 1 S 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 (Northern Ireland) 2008, the Companies Act 2006 and UK Generally ACpted 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 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 fiJnctional currency of the charity and rounded to the nearest £. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. (b) Funds Unrestricted funds a avallable for use at the discretion of the trustees in fvrtherance 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. 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 All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and tt is probable that the income will be receNed. Voluntary income is received by way of grants, donations and gifts and is included in the full Statement of Financial Activities when recetvable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognise(f when the charity becomes unconditionally entitled to the grant. Donated facilities and donated professional seNices are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably, and the charity has control over the item. Fair value is detemined on the basis of the value of the gift to the char(ty. For example, the
Ards Development Bureau & Community Network Notes to the Financial Statements For the Year Ended 31 March 2025 amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP {FRS 102>. Further detail is given in the Trustees, Annual Report. Income derived from events is recognised as eamed (that is, as the related goods or services are provided}- Investment income is included when receivable. Income from charitable acts'vities includes income recognised as earned (as the related goods or services are provided) under contract or where entitlement to grant fvnding 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 receipt and the amount can be measured with sufficient reliability. (dl Expenditure recognition All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive 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 charitsble activities 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 inc5ude office costs, governance 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 activities 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 charttable 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 operab'ng 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.. Fixtures and fittings 330A per annum reducing balance 12
Ards Development Bureau & Community Network Notes to the Financial Statements For the Year Ended 31 March 2025 Computer equipment Motor vehicles 20°h per annum reducing balance 250h per annum reducing balance {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 impairnient are recognised in expenditure. (h) Loans and borrowings 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 constrtutes a finan transaction it is messured at present value. li) Impaimient Assets not measured at fair value are reviewed for any indication that the asset may b8 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 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. ti) Provisions Provisions are recognised when the charity 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 settlernent and the arnount 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 between 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 receivable under operating leases are charged to the SOFA on a straight-line basis over the period of the lease. (l) Employee benefits Vhen employees have rendered seNice 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 charity operates a defined contribution 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 2025 (n) Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered 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 reserves for the charity to be able to continue as a going concern. Training and investment income Unrestricted Restricted 2025 2024 Revenue grant income 308,552 308,552 250,830 308,552 308,552 250,830 Other income Unrestricted Restricted 2025 2024 Rental income 8,054 8,054 18,885 8,054 8,054 18,885 Income from investments 2025 2024 Interest receivable 10g 237 109 237 14
Ards Development Bureau & Communty Network Notes to the Financial Statements For the Year Ended 31 March 2025 Project costs Unrestricted Restricted 2025 2024 Wages and salaries Staff pension costs Printing postsge stationery Rent Donations Family poverty packs Mentoringlfacilitation Event costs 55,877 4,579 6,283 5,873 55,877 4,579 6,283 5,873 61,075 4,954 3,267 6,997 76,993 46,614 76,993 46,614 70,210 36,430 Total 198,219 196,219 182,933 Governance and support costs Unrestricted Restricted 2025 2024 Wages and sal8ries Staff pension costs Staff training costs Insurance Light & heat Repairs and maintenance Cleaning Postage & stationery Telephone Computer expenses Travelling expenses Legal and professional Accountancy Bank charges and interest Loan interest Sundry expenses Depreciation on computer equipment Depreciation on office equiprnent DepreGiation on motor vehides 47,899 2,289 47,899 2,289 26,175 2,123 5,192 3,107 21,937 1,767 730 6,999 677 1,927 475 2,010 448 7,882 821 7,795 198 3,164 5,192 3,107 21,937 1,767 730 6,999 677 1,927 475 2,010 448 7,882 821 7,795 198 3,164 5,585 13,706 4,406 2,558 135 6,538 634 5,637 658 1,740 448 7,506 2,710 8.495 296 4,219 115,317 115,317 93,567 15
Ards Development Bureau & Community Network Notes to the Financial Statements For the Year Ended 31 March 2025 Tangible fixed assets Land and buildings freehold Computer equipment Office fijrniture and fittings Motor Vehicles Total Cost: At 1 April 2024 Additions Disposals 1,310,088 155,276 5,000 68,004 30,000 1,563,368 5,000 At 31 March 2025 1,310,088 160,276 68,004 30,000 1,568,368 Depreclation.. At 1 April 2024 Charge for the year On Disposal 121,297 7,795 67,411 198 17,344 3,164 206,052 11,157 At 31 March 2025 129,092 67,609 20,508 217,209 Net book value: At 31 March 2025 310 088 395 1351 159 At 31 March 2024 593 Debtors 2025 2024 Accrued income Other debtors 57,805 41,945 4,040 57,805 45,985 16
Ards Development Bureau & Communty Nefrork Notes to the Financial Statements For the Year Ended 31 March 2025 Creditors: amounts falling due within one year 2025 2024 Loans Trade creditors Other tax and social security Accruals and deferred incoTre 93,796 33,980 96,040 7,063 714 2,085 2,754 133,857 105,902 10 Restrictsd funds Balance at Income 2024 Expenditure Transfers Balance at 2025 Other reserves Premises modernisation Project Outreach Communty Resource Centres Scrabo Project 57,818 1,040.194 308.661 (311,536) 54,943 1,040,194 7,054 7,054 8,516 8,516 1.113,582 251,067 (276,500) 1.110,707 The other restricted reserves relate to ongoing projects wÉthin the charity. The Premises Modemisation 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 Communty Resour Centres funds relate to the purchase and depreciatton of computers for these centres. The Scrabo Project funds relate to the ongoing project in Newtownards. 17
Ards Development Bureau & Communty Network Notes to the Financial Ststements For the Year Ended 31 March 2025 11 Contingent liabilities The grants reIVed are subject to repayment rf conditions relevant to their payment do not continue to be meL Except ft)r the above there are no other commitrnents and contingencies requiring disclosure. 12 Trustees None of the trustees (or any person connected with them) receNed any remuneration or benefits from the charity during the year. 13 Employees The average monthty number of ernployees during the year was: 2025 Number 2024 Number Employees 14 Staff costs and employee benefrts No employees received total employee beneffts (excluding employer pension costs) of MO 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 Incorne and Corporats'on Taxes Act 1988. 16 Company limited by guarantee The company is limited by guarantee. The liability of each member is limited to £1 each. 17 Related party transactions There were no lated paty transactions during the year. 18