CLONMORE REGENERATION GROUP LTD (A company limited by guarantee) Report and Flnancial Statements Year ending 30 April 2023 Charlty number: 103598 Company number: Nl 615461
CLONMORE REGENERATION GROUP LTD MISSION STATEMENT Investing in People
CLONMORE REGENERATION GROUP LTD Report of the trustees forthe Year ending 30 April 2023 The trustees are pleased to present their annual directors, report together with the financial statements of the charity for the year ending 30 April 2023 which are also prepared to meet the requirements for a directors, report and accounts for Companies Art purp05e5. The financial statements comply with the Charities Act 2008, the Companies Act 2006, the Memorandum and Articles of Association, and 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 IFRS 1021 {effective I January 20151. Our purposes and activities The purpose of the charity is to improve the quality of life for the inhabitants of the Clonmore area through educations, facilitation of facilities in the interests of social welfare and/or leisure. Our own constitution states that our objectives include the following: lal Redevelop, maintain and manage Clonmore Hall Ibl Provide community transport for the inhabitants of Clonmore. Ic) Support the development of a cohesive shared and integrated community. Financial review The trustees are pleased with the results for the year. It is important the income is sustained to cover costs to of running the hall and to cover loan repayments required to complete new build. The trustees consider that the ideal level of reserves as at 30 April 2023 would be £8k. The trustees rely on the support of the community and various grants to 5UPPOrt their activities. The trustees are of the view that the organisation is a going concern. A major financial concern for the Centre as with any charity will be ongoing financial sustainability from funding in the years to come. The trustee5 are aware of the need to maintain free reserves, especially in the current economic climate. Continual fundraising will provide a challenging environment in the years to come. At the tail end of the pandemic, the trustees continued to monitor their 5 year strategy plan and community audit. The committee continuously worked with other groups and tenants to promote and enhance activities from inside and outside of the community. Although the past year has been a challenge for all within our community towards the end of the Covid 19 pandemic physical activities did open up again, albeit there was a delay in relation to the same as the community had ongoing fears.
CLONMORE REGENERATION GROUP LTD We would like to express our sincere gratitude to our funders ABC Council - for their continued and unwavering support in the running costs of our community hall. Their advice during this difficult time has been invaluable. 4. The Barnett Group- for their continued support of match funding which helped us greatly in our Christmas Dinner. There were various fundraising events during the term which ensured the involvement of the whole community. In April of 2022, a weekend of fund-raising activities was completed in aid of the amazing Air Ambulance Service and a generous donation wa5 made to them. The activities included a quiz, a sponsored walk and breakfast, and finished with a fun murder mystery evening, written by our mentor and some live music. In May 2022, the completion of a new magazine came to fruition designed and written by our mentor. The magazine provided an insight to the community and beyond the various organisations within the community, local businesses, and events. The annual MORFEST event was placed on hold during 2022 as resources were invested on assisting with the groundworks for a new footpath in the local area. This work has been started and significant progress made to ensure the safety of all within our community. This project is self- funded given that there is no funding at government level. This is an ongoing project with an ambitious plan helping with the creation of a footpath where we can link from the school at Clintyclay through to Clonmore Villas. Our aim for 2023 to 2024 15 to generate new projects to ensure that continued community involvement. We look forward to you all promoting these events and taking part in a very active committee to achieve all successfully. Reference and administrative details Registered Office: 157 Clonmore Road, Dungannon, Co Tyrone, BT716HX Our advisers Independent Examiner; Oliver Donaghy Clonmore Road, Dungannon, Co Tyrone, BT716HX Bankers; Bank Of Ireland, 11 Upper English Street, Armagh, Co Armagh Key management personnel Clonmore Regeneration Group Ltd: Trustees, and Directors
CLONMORE REGENERATION GROUP LTD Directors and trustees The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers serving during the year and since the year end were as follows: Chair: Kieran Conlon Secretary: James McBennett Treasurer Paul Grimley Maurice O'Neill Fiona Hampsey Ailsa McGeown Margaret Conlon Sinead Willox Resigned January 2023 Appointed 18 December 2022 Resigned January 2023 Structure. Governance and Management Governlng Document Clonmore Regeneration Group Ltd is a Company limited by guarantee governed by its Memorandum and Articles of Association dated 29 October 2015. It is registered as a charity with the Charity Commission. Membership is open to individuals/organisations by completing an application. The charity was registered as a charity under the Corporation Taxes Act 1988. Reg no: XR 77611 Appointrnent of trustees As set out in the Articles of Association the maximum Board members shall be 12 and the minimum number 7. One third of the members shall be co-opted by way of public advertisement. All members are circulated with invitations to nominate trustees prior to the AGM advising them of the retiring trustee5 and requesting nominations for the AGM. When considering co~opting trustees, the Board has regard to the requirement for any specialist skills needed. Trustee Induction and training New trustees undergo an orientation session to brief them on: their legal obligations under charity and company law, the Charity Commission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial performance of the charity. Any person wishing to become a board member must apply in writing for approval by the Trustees. It is a requirement that the board members attend an induction process covering good governance.
CLOIYMORE REGENERATION GROUP LTD During the induction they meet key employees and other trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Organisation The board of trustees, which can have up to 12 members, administers the charity. The charity IS managed by the Trustee Board, which meets at least 6 times per year. Related parties and co-operation with other organisations None of our trustees receive remuneration or other benefit from their work with the charity. Risk management The trustees have a risk management strategy which comprises: an annual review of the principal risks and uncertainties that the charity the establishment of policies, systems and procedures to mitigate those risks identified in the annual review; and the implementation of procedures designed to minimise or manage any potential impact on the charity should those risks materialise. This work has identified that financial sustainability is the major financial risk for the charity. A key element in the management of financial risk is a regular review of available liquid funds to settle debts as they fall due to ensure sufficient working capital by the centre. Attention has also been focussed on non-financial risks arising from fire, health and safety staff, volunteers and clients. These risks are managed by ensuring accreditation is up to date, having robust policies and procedures in place and regular awareness training for staff working in these operational areas. Trustees, responslbilities in relation to the financial statements The charity trustees {who are also the directors of the Clonmore Regeneration Group Ltd for the purposes of company lawl are responsible for preparing the trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently;
CLONMORE REGENERATION GROUP LTD obseNe the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 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 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable companls website. Statement as to disclosure to our independent examiners In so far as the trustees are aware at the time of approving our trustees, annual report: there is no relevant information of which the charitable company's independent examiner is unaware, and the trustee5, having made enquiries of fellow directors have each taken all steps that he/she is obliged to take a5 a director in order to make themselves aware of any relevant audit information and to establish that the independent examiner is aware of that information. This report was approved by the board of trustees and signed on its behalf by Kieran Conlon Dlrector Dated: 29 January 2024
CLONMORE REGENERATION GROUP LTD Independent examiner's report to the Trustees on the unaudited financial statements of Clonmore Regeneration Group Limited I report on the accounts of Clonmore Regeneration Group Limited for the year ended 30 April 2023 set out on pages 10 to 20. Respective responsibilities of trustees and independent examiner As the charity's trustee5 you are responsible for the preparation of the accounts, you consider that the audit requirement of section 65(2) of the Charities Act (Northern Ireland) 2008 (the Charities Act), does not apply and that an independent examination is needed. The charity is required by law to prepare accrued accounts and l am qualified to undertake the examination by being a qualified member of Chartered Accountants Ireland. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to- examine the accounts under section 65 of the Charities Act to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b} of the Charities Act to state whether particular matters have come to my attention. Basis of Independent examlner's statement 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 anv 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 audit and consequently no opinion is given as to whether the accounts present 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examiner's statement In connectlon with my examination, no matter has come to my attention: l) which gives me reasonable cause to believe that in any material respect the requirements: to keep proper accounting records in accordance with section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records and to comply with the accounting requirements of the Companies Act 2006 and
CLONMORE REGENERATION GROUP LTD which are consistent with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met or 2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached. Oliver Donaghy Independent examiner Clonmore Road Dungannon Co Tyrone BT716HX th Dated: 29 January 2024
CLONMORE REGENERATION GROUP LTD Statement of Financial Activitles (Including income and expenditure account) for year ending 30 April 2023 2023 2022 Unrestrirted Funds Notes Funds Total Funds Total Funds Income: Activities for generatingfunds 8,890 6,001 Donations and Legacies 8,890 Income from charitable activities.. Community Development 8,605 8,605 13,120 Total Income 8,890 8,605 17,495 19.121 Expenditure Expenditure on charitable activities.. Community Development 36,571 36,571 26,930 Total expenditure 36,571 36,571 26,930 Net Income/(expendlture) and net movement in funds for the year 8.890 (27,9661 19,076 7,810 Transfer between Funds {24,5661 24,566 Reconciliation of funds Total Funds brought forward 26,534 201,857 228,391 236,200 Total funds carried forward 10,858 198,457 209,315 228,391 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 12 to 20 from part of these accounts. 10
CLONMORE REGENERATION GROUP LTD ststement of Financial Position (balance sheet) as at 30 April 2023 30-Apr-23 3010412022 Fixed assets Tangible assets Investments Total Fixed Assets Funds 13 210,974 221,147 210.974 221,147 Current assets Stock Debtors Cash at bank and in hand Total Current Assets 14 599 1,942 2,540 11,443 11,443 Liabilities Creditors falling due within one year 15 4,200 4,200 Net Current assets {1,659) 7,243 Net assets 209,315 228,391 The funds of the charity: Unrestricted Income funds Designated Reserves Restricted Income funds Total charity funds 10,858 26,534 198,457 209,315 201,857 228,391 STATEMENTS For the financial year in question the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. No members have required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies Subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. ved by the trustees on 29 January 2024 and signed on its behalf. Appr th Kieran Conlon Dlrector Nl 615461 The notes on pages 12 to 20 from part of these accounts. li
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements For the year ended 30 April 2023 Accounting Policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparatlon of the financial statements are as follows: a) Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities accounts Republic of Ireland (FRS 102) (effective l January 20151- {Charities SORP IFRS 102)), in accordance with the Financial Reporting Standard applicable in the UK and preparing their Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity meets the definition of a public benefit entity under FRS 102. A55ets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). b) Preparation of the accounts on a going concern basis The number of using the charity is increasing year on year but the uncertainty surrounding funding is a significant area of financial uncertainty that will invariable impact upon the services that we can offer. The trustees have mitigated these risks by continually challenging decisions made at government level to ensure that the impact of provisions of services is minimal. c) Income Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item{s) of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from government and other grants, whether'capital, grant5 or'revenue, grants, Is recognised when the charity has entitlement to the funds, any performance conditions attached to the grant5 have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 12
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements (continued) For the year ended 30 April 2023 d) Donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP IFRS 1021, the general volunteer time spent within the charity is not recognised and refer to the trustees, annual report for more information about their contribution. On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. a corresponding amount is then recognised in expenditure in the period of receipt. e) Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank. Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to Use for a specific purpose. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the Charity's work or for specific artistic projects being undertaken by the Charity. g) Expenditure and irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make 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 includes the costs of Advice, information and representation undertaken to further the purposes of the charity and their associated support costs. •• Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 13
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements (colltinued) For the year ended 30 April 2023 h) 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 Centre's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 6. i) Tangible fixed assets Individual fixed assets costing £100 or more are capitalised at cost and are depreciated over their estimated useful economic lives as follows: Asset Category Annual rate Plant and Equipment Computers Property 20% Reducing Balance 15% Reducing Balance 4% Straight Line j) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. k) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investment5 With short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. l) Creditors and provisions Creditor5 and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. 2) Legal status of the Trust The organisation is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. 15
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements (continued) For the year ended 30 April 2023 3) Income from donations and legacles 3010412023 3010412022 Donations Donations Fundraising TOTAL 6,900 1,990 8,890 3,864 2,137 6,001 The Trust benefits greatly from the involvement and enthusiastic support of its many volunteers, details of which are given in our annual report. In accordance with FRS 102 and the Charities SORP {FRS 102}, the economic contribution of general volunteers is not recognised in the accounts. The income from donations all of which was unrestricted. 4) Income from charitable artivities Restricted Funds TOTAL 3010412023 3010412023 Restrirted Funds 3010412022 Project Costs ABC Council ABC Council- refund grants Hire of Hall Halifax Daera George Earl Fund Nationwide Sponsorship Show Income 1,836 680 80 4,945 4,945 1,300 1,300 2,983 2,900 4,000 2,000 2,360 2,360 13,120 TOTAL 8,605 8,605 16
CLONMORE RKGENERATION GROUP LTD Notes to Financial Statements (continued) For the year ended 30 April 2023 5} Analysis of expenditure on charltable activities 2023 Total 1,831 340 2021 Total 1,486 1,290 1,188 420 468 Insurance Repairs and Maintenance Fundraising Costs Light and Heat Telephone/lnternet costs Travel Project Costs Mentoring Cost of Events 566 14,545 5,217 107 Loan Interest Payable Depreciation of tangible assets Donations to other Charities Donation of Bus to school Governance costs (see note 10) Support costs (see note 10) Total 136 15,601 15,703 2,000 1,200 281 36,571 1,200 196 26,930 6) Net income/(expenditure) for the year 2023 2022 This is stated after charging: Depreciation 15,703 15,601 Government Grants Income from government grant5 comprises grants made by Socal authorities to contribute to the running costs of the organisation. 17
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements (Continued) For the year ended 30 April 2023 8) Support Costs General support Governan Total 2022 Accountancy Fees Bank charges 1,200 1,200 281 1,200 196 281 281 1,200 1,481 1,396 91 Corporation Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxe5 Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. io) Tangible fixed assets Leasehold Property Plant and Equipment Total Cost: As at l May 2022 Additions As at 30 April 2023 268,832 42,372 5,530 47,902 311,204 5,530 316,734 268,832 Depreciation: As at l May 2022 Charge for the year As at 30 April 2023 75,153 10,753 85,907 14,903 4,950 19,853 90,057 15,703 105,760 Net book value As at 30 April 2023 182,925 28,049 210,974 As at 30 April 2022 193,679 27,469 221,147 18
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements (continued) For the year ended 30 April 2023 11) Debtors 2023 2022 Debtors 599 599 121 Creditors: amounts falling due within one year 2023 2022 4,200 4,200 Trade Creditors 4,200 4,200 13) Analysls of charitable funds Analysis of movements in unrestricted funds Balance Funds Asatl May 2022 Incoming resources Resources expended As at 30 Aprll 2023 Transfers General fund Total 26,534 26,534 8,890 8,890 (27,9661 (27,9661 7,458 7,458 Name of unrestricted fund Description, nature and purposes of the fund The 'free reserves, after allowing for all designated funds. Generalfund 19
CLONMORE REGENKRATION GROUP LTD Notes to Financial Statements (continued) For the year ended 30 April 2023 Analysis of movements in restricted fund Balance Funds Asatl May 2022 Incoming resources Resources expended As at 30 April 2023 Transfers Capital 201,857 5,530 15,703 6,773 198,457 Community Development 3,076 20,868 21,193 3,400 Total 201,857 8,605 36,571 27,966 201,857 Name of restricted fund, Descrlption, nature and purposes of the fund Assets Property assets fund is the value of unrestricted funds represented by the tangible fixed assets owned and used by the charity on an on-going basis to meet its objectives. 2023 2022 3,400 201,857 205,257 Nationwide Fixed Assets 198,457 198,457 141 Analysis of net assets between funds Analysis of net assets between funds General Fund Designated Funds Restricted Funds Tota Tangible fixed assets Cash at bank and in hand Other net current assets/(liabilities) 12,517 1,942 (3,601) 10,858 198,457 210,97, 1,94., (3,601 209,31. Total 198,457 20