CLONMORE REGENERATION GROUP LTD (A company limited by guarantee) Report and Financial Statements Year ending 30 April 2024 Charity number: 103598 Company number: Nl 615461
CLONMORE REGENERATION GROUP LTD Contents Mission Statement Trustees, report Independent Examiners Report to the trustees 9-10 Statement of Financial Activities 11 Statement of Financial Position 12 Notes to the financial statements 13-20
CLONMORE REGENERATION GROUP LTD MISSION STATEMENT Investing in People
CLONMORE REGENERATION GROUP LTD Report of the trustees for the Year ending 30 April 2024 The trustees are pleased to present their annual directors, report together with the financial Statements of the charity for the year ending 30 April 2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. 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 102) (effective I January 2015). 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 (b) Provide community transport for the inhabitants of Clonmore. (c) 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 reserrfes as at 30 April 2024 would be £8k. The trustees rely on the support of the community and various grants to support 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 trustees are aware of the need to maintain free resenies, especially in the current economic climate. Continual fundraising will provide a challenging environment in the years to come. The trustees continue to monitor and revise strategy plan. The committee continuously worked with other groups and tenants to promote and enhance activities from inside and outside of the community.
CLONMORE REGENERATION GROUP LTD 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. 2024 has been another busy year in the Clonmore Community centered around Clonmore Community Hall. The hall continues to be extensively used by the community for exercise, entertainment and fundraising activities. The following groups utilised the hall in the past year, Clonmore Youth Club, Clonmore GFC, Whylie Irish Dancing, Pilates Classes, Zumba Classes and Clintyclay School, The Community group continues to be successful in drawing down grants and delivering projects for the benefit of the community. CRG is currently progressing with the hall storage extension which is a major project being funded by ABC Council. This project has been slow to progress however we have recently made progress and are hopeful to complete these works by the end of March. CRG has also been involved in improvement projects at the Church Graveyard and organizing community information / training events and has been successful in obtaining the following grant funding Donnelly Bros - for storage container. Energia Grant- towards extension of footpath along Clonmore Road. DARD Grant-towards hall insulation improvements. Christmas Grant- funding toward5 Christmas decorations and event. ABC Council Hall maintenance funding. iv) CRG have again held their annual Community Christmas dinner with a full four course lunch cooked and served by the committee and volunteers. I would like to thank all involved for making the event such a success however special credit must go to Bridgid Duggan who once again produced an amazing dessert menu. We would also like to thank The Barnet Group for their continued sponsorship of this event. This event is CRG'S main funding source along with Hall hire The group have identified the following schemes which we would like to deliver for the community when funding becomes available, New NIE supply to the Hall, Hall Signage, Hall Mural, playpark, and further footpath links along Clonmore Road. The group are aware that an increases number of events ie required to encourage to get the community involved in new activities despite many attempts and despite quality events being offered and delivered in the community. I would like to thank all our committee for their volunteering across the various roles, which go to ensuring the smooth running of the Community Hall and delivering the community projects over the past year. The roles include applying for grants, managing the facebook page, general hall maintenance facilitating the opening of the hall for the various user groups and diary maintenance, ensuring all
CLONMORE REGENERATION GROUP LTD bills are paid and general administration. Everyone's role is important to ensure that the group delivers on its objectives. 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. It was very fitting that the groups efforts were recognised in the 2024 ABC Community Awards were the group was awarded a Community Award by ABC council. I know that the workin85 of the Clonmore Community Group are the envy of many local community groups and I hope that this continues for many years. Our aim for 2024 to 2025 is 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 Dlrectors Directors and trustees The directors of the charitable company (the charity) are its trustees for the purpose of charity law. The trustees and officers sending during the year and since the year end were as follows: Chair: Kieran Conlon Secretary: James McBennett Treasurer Paul Grimley Maurice O'Neill Ailsa McGeown Pauline Tipping Siobhan Loughran
CLOINMORE REGENERATION GROUP LTD Structure. Governance and Management Governing 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 Appolntment 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 trustees 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 trainlng New trustees undergo an orientation se55ion 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 Trustee5. It is a requirement that the board members attend an induction process covering good governance. 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. Organlsatlon 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 time5 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 charitv
CLOINMORE REGENERATION GROUP LTD 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 15 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 stsff, 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, responsibilities in relatlon to the flnancial statements The charity trustees {who are also the directors of the Clonmore Regeneration Group Ltd for the purpose5 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; observe the methods and princip5es 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 record5 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 safeguardin8 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 compan¢s website.
CLONMORE REGENERATION GROUP LTD Statement as to disclosure to our independent examlners 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 companvs independent examiner is unaware, and the trustees, having made enquiries of fellow directors have each taken all steps that he/she is obliged to take as 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 Director Dated: 11 February 2025
CLONMORE REGENERATIOIN GROUP LTD Independent exarniner's report to the Trustees on the unaudlted financial statements of Clonmore Regeneration Group Limlted I report on the accounts of Clonmore Regeneration Group Limited for the year ended 30 April 2024 set out on pages 10 to 20. Respective responsibilities of trustees and independent examiner As the charity's trustees you are responsible for the preparation of the accounts, you consider that the audit requirement of section 6512) 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 15 eligible for independent examination, it is my responsibility to: examine the accounts under section 65 of the Charities Att to follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9}(bl of the Charities Act to state whether particular matters have come to my attention. Basis of independent examiner'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 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 audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Independent examlner's statement In connertion 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 Companie5 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 orderto enable a proper understanding of the accounts to be reached. Ollver Donaghv Independent examiner Clonmore Road Dungannon Co Tyrone BT716HX th Dated: 11 February 2025 10
CLONMORE REGENERATION GROUP LTD Statement of Financial Activities (Including income and expenditure account) for year endlng 30 April 2024 2024 2023 Unrestrieted Funds Restricted Fullds Total Funds Total Funds Notes Income: Activitiesfor generatingfvnds Donations and Legacies 1,964 1,964 8,890 Incopnefrom charitable activilies.. Community Development 5,304 2,070 7,374 8,605 Capital Grants 9,900 9,900 Investment income Total Income 23 23 7291 11,970 19261 17,495 Expenditure Erpenditure on charitable activities.. Community Development 22,853 22,853 36,571 Total expenditure 22,853 22,853 36,571 Net Ineomel(expenditure) and net movement in funds for the year 7,291 (10,883) 3,592 19,076 Transfer between Funds 31,118 (31,118) Reconciliation of funds Totsl Funds brought forward 10,858 49266 198,457 156,456 209,315 205.722 228,390 209JIS Total funds carried fonvard 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 13 to 20 from part of these accounts. li
CLONMORE REGENERATION GROUP LTD ststement of Financial Position (balance sheet> as at 30 April 2024 30-Apr-24 3010412023 Fixed assets Tangible assets Investments Total Fixed Assets Funds 13 196,013 210,974 196,013 210,974 Current assets Stock Debtors Cash at bank and in hand Total Current Assets 14 599 1.942 2,540 13,909 13,909 Liabilities Creditors falling due within one year 15 4,200 4,2(K) Net Current assets 9,709> 11,659) Net assets 205,722 209,315 The funds of the charity: Unrestricted Income funds Restricted Income funds Total charity funds 49,266 156,456 205,722 10,858 198,457 209,315 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,. th Approved by the trustee5 on 11 February 2025 and signed on its behalf. Kieran Conlon Dirertor Nl 615461 The notes on pages 13 to 20 from part of these accounts. 12
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements For the year ended 30 April 2024 Accounting Policies The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financlal statements are as follows: a) Basls 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 1021 (effective l January 2015)- (Charities SORP {FRS 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 1021 and the Companies Act 2006. The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note{sl. b) Preparation of the accounts on a golng concern basls 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 invaria ble 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 itemls) 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, grants or 'revenue' grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. 13
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements (continued) For the year ended 30 April 2024 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 (FRS 1021, the general volunteer time spent within the charity is not recognised and refer to the trustees, annual report for more information atK)Ut 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 benefrt on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. e) Interest recelvable 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. fl 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 CharItS 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 obliEation 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 COSt5. •• 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. 14
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements (continued) For the year ended 30 April 2024 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 investments With a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. l) Creditors and provisions Creditors 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 2024 Income from donations and legacies 3010412024 3010412023 Donations Donations Fundraising TOTAL 6,900 1,990 8,890 1,964 1,964 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. Income from charitsble activities Unrestricted Funds 3010412024 Restricted Funds 3010412024 Restricted Funds 0110512023 TOTAL 3010412024 ABC Council Other Hire of Hall Daera Show Income 1,170 900 1,170 900 5,304 5,304 4,945 1,300 2,360 TOTAL 5,304 2,070 7,374 8,605 Income Capital Grants ABC Council 9,900 9,900 16
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements (continued) For the year ended 30 April 2024 Analysis of expenditure on charitable activSties 2024 Total 2023 Total Total Insurance Repairs and Maintenance Light and Heat TelephonelInt¢rnet costs Project Costs Mentoring Cost of Events Depreciation of tangiblc assets Donations to other Charities Governance costs (see note 10) Support costs (see note l O) Total 2,078 1,163 1,996 681 750 1,075 2,078 1,163 1,996 681 750 1.075 1,831 340 565.75 14,545 107 15,703 2,000 1,200 281 36,571 14,961 14,961 149 22,853 149 22,853 6) Net incomel{expenditure) for the year 2024 2023 This is stated after charging: Depreciation 14,961 15,703 Government Grants Income from government grants comprises grants made by local authorities to contribute to the running costs of the organisation. 8) Support Costs General support Governance Total 2023 Accountancy Fees Bank charges 1,200 149 149 281 149 149 1,481 17
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements (continued) For tbe year ended 30 April 2024 Corporation Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes 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 2023 As at 30 April 2024 268.832 268.832 47,902 47.902 316,734 316,734 Depreciation: As at l May 2023 Charge for the year As at 30 April 2024 85,907 10,753 96,660 19,853 4,207 24,060 105,760 14,961 120,721 Net book value As at 30 April 2024 172,172 23,842 196,013 As at 30 April 2023 182,925 28,049 210,974 11} Debtors 2024 2023 Debtors 599 599 121 Creditors: amounts falllng due wlthln one year 2024 2023 Trade Creditors 4,200 4,200 4,200 4,200 18
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements (continued) For the year ended 30 April 2024 131 Analysis of charitable funds Analysis of movements in unrestricted funds Balance Asatl May 2023 Funds Asat30 April 2024 Incoming resourees Resources expended Transfers General fund Total 10.858 10,858 7,268 7,268 31,141 31,141 49,266 49,266 Name of unrestricted fund Description, nature and purposes of the fund Generalfund The 'free reserves, after allowing for all designated funds. Analysis of movements in restricted fund Analysis of movements in restrieted fund Balance Asatlmay 2023 Funds Asat30 April 2024 Incoming resources Resources expended Transfers Capital Community Development 198,457 14,961 36,940 146,556 11,993 7,892 5,799 9,900 Total 198,457 11,993 22,853 31,141 156,456 Name of restricted fund, Description. 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. 2024 2023 ABC Council Fixed Assets 9,900 146,556 156,456 198,457 198,457 19
CLONMORE REGENERATION GROUP LTD Notes to Financial Statements (continued) For the year ended 30 April 2024 14) Analysls of net assets between funds General Fund Restricted Funds Total Tangible fixed assets Cash at bank and in hand Other net current assets/(liabiliti¢s) Total 49,457 4,009 4,200 49,266 146,556 9,900 196,013 13,909 4,200 205,722 156,456 20