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2023-03-31-accounts

REGISTERED COMPANY NUMBER: NI027140 (Northern Ireland) REGISTERED CHARITY NUMBER: 103666

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

STRABANE COMMUNITY PROJECT

McAleer Jackson Ltd Chartered Accountants & Statutory Auditors Church House 24 Dublin Road OMAGH Co. Tyrone BT78 1HE

STRABANE COMMUNITY PROJECT

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Page
Report of the Trustees 1 to 4
Report of the Independent Auditors 5 to 8
Statement of Financial Activities 9
Balance Sheet 10
Cash Flow Statement 11
Notes to the Cash Flow Statement 12
Notes to the Financial Statements 13 to 20
Detailed Statement of Financial Activities 21 to 22

STRABANE COMMUNITY PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of 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) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The company's principal activity during the year was to promote activities that benefit the inhabitants of the Strabane and greater North West area, including its cross-border hinterland, ("the area of benefit") without distinction of gender, sexual orientation, age, race, ethnicity, political, religious or other opinion by associating with the statutory authorities, voluntary and community organisations and inhabitants in a common effort to:

(1) Relieve those in need by reason of age, ill health, disability, financial hardship, isolation, exclusion or other disadvantage, by providing all or any of the following:

(2) Training by organising and/or delivering educational and training courses and support services to learners.

(3) Promote health and well-being by the provision of information, advice and delivery of community health promotion programmes.

(4) Provide facilities in the interest of social welfare for recreation and other leisure time occupations.

(5) Advance community development and promote social enterprises.

(6) Promote such other charitable purposes as may from time to time be determined.

The meals on wheels' services ceased on 31st October 2022 due to no available funding and the high cost of living increases. The service was no longer sustainable for the organisation.

Public benefit

The Directors of Strabane Community Project confirm that they have complied with their duties under section 4(6) of the Charities Act (Northern Ireland) 2008 to have regard to the Charity Commission for Northern Ireland's guidance on public benefit and that the public benefit requirement has informed the activities of the charitable company in the year ended 31 March 2023.

STRATEGIC REPORT

Achievement and performance

Charitable activities

The charity continued to provide support and services for disadvantaged target groups in the area despite the trying economic environment. The charity attained its objective to maintain the number of customers availing of the luncheon club and meals on wheels activities while building on the performance of the new sectors of Social Supermarket and Grass Roots Café. The charity achieved its aim of obtaining an increased level of grants to fund its activities. Unfortunately, for financial reasons, the meals on wheels service was discontinued during the year.

Page 1

STRABANE COMMUNITY PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STRATEGIC REPORT Financial review

Financial position

During the year ended 31 March 2023, the charity received total income of £542,768 and had an overall deficit of £(5,462). Income from grants and donations showed a increase of £24,439 during the year. Income from charitable operations increased due to the current economic climate and increased demand. Overall resource expenditure increased by £38,730. Some fixed assets were purchased during the year but they were grant aided. The charity has incurred deficits for the last number of years which has diminished its reserves. The charity has net assets of £271,871 as at 31 March 2023 but this mainly consists of land and property which is restricted in nature.

Reserves policy

While funding for the charity's core activities is secured until 2023, Strabane Community Project needs a reserves policy to have sufficient cash reserves should the company experience cash flow problems or costs involved in any potential wind up of the company and/or provision for redundancy costs.

It was recommended that reserves equivalent to two months' running costs for core activities be retained. The target set was £45,000. At the balance sheet date, the charity's total unrestricted funds were £13,784 which is less than the targeted amount. This leaves designated funds at £15,000. The Trustees are considering all options to secure and retain additional unrestricted funding for the forthcoming year. The level of reserves is reviewed by the trustees and management regularly throughout the year. The minimum level of reserves for the ongoing needs of the charity is reviewed by the trustees on annual basis.

Going concern

The trustees have assessed, based on the anticipated activities of the charity, that there are adequate resources in place to meet the on-going costs of the group for a minimum of 12 months from the date of signing the financial statements. In coming to this conclusion, the trustees have assessed the entity's current financial arrangements and resources of the charity. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

Future plans

The year 2022/23 seen Strabane Community Project (SCP) carry out a scoping exercise in order to further restructure the operational elements of the Organization. The aim and objective was to move towards a more stable and sustainable model, 2022/23 has been a successful year in terms of evolving our Grass Roots Wellness Café & Food market Social Enterprise model in terms of generated income and most importantly the Social purpose and what it was set up to achieve by providing access to low cost food and wrap-around layered support. This has and continues to be a successful year for both income & participant’s successes in moving forward to a more sustainable lifestyle.

Strabane Community Project is currently working on a 5-year application to apply for both capital and revenue funding for the Community Garden. This will create further space to deliver holistic therapies, education workshops based on climate change, food festivals and seasonal events. These will complement our already existing allotments, again building on the Social purpose and creating a further Social enterprise model. Furthermore, this will enable us to incorporate our Older peoples’ services within the Garden which has been the aim to streamline the coordination of our service and reducing core costs and utilizing our already established spaces.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Page 2

STRABANE COMMUNITY PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

The trustees of the charity when elected serve until the next annual general meeting at which they must be re-elected. The management operate a system of internal control designed to provide reasonable assurance, but not absolute assurance against material misstatement or loss. They include the; -

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

NI027140 (Northern Ireland)

Registered Charity number 103666

Registered office

42 Barrack Street Strabane Tyrone BT82 8HD

Trustees

Rev Fr D Boland R Gilloway P McCallion (resigned 20.01.23) B Haughey M Coyle P Foley P Perry S McGlade (appointed 23.03.23)

Honorary Members Sister Fanning

Company Secretary P Perry

Auditors

McAleer Jackson Ltd Chartered Accountants & Statutory Auditors Church House 24 Dublin Road OMAGH Co. Tyrone BT78 1HE

Bankers

Bank of Ireland Abercorn Square STRABANE Co. Tyrone BT82 8AH

Page 3

STRABANE COMMUNITY PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2023

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of Strabane Community Project for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial 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 those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, McAleer Jackson Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

The directors are of the opinion the company is entitled to exemption from audit in accordance with section 475(2) and section 475(3) of the Companies Act 2006.

However, under Section 65(1) of the Charities Act (Northern Ireland) 2008 an audit is required and we would choose to have an audit undertaken as it may be requested in future funding applications.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on 15 December 2023 and signed on the board's behalf by:

DECLAN BOLAND PP

.......................................................................... Rev Fr D Boland - Trustee

Page 4

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF STRABANE COMMUNITY PROJECT

Opinion

We have audited the financial statements of Strabane Community Project (the 'charitable company') for the year ended 31 March 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Page 5

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF STRABANE COMMUNITY PROJECT

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF STRABANE COMMUNITY PROJECT

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

We also obtained an understanding of the legal and regulatory framework that the Charity operates in, focusing on provisions of those laws and regulations that had a direct effect on material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the UK Companies Act, pensions and tax legislation, charity legislation together with provisions of other laws and regulations that do not have a direct effect on the financial statements, but compliance with which may be fundamental to the Charity's ability to operate or to avoid a material penalty. This included conditions of funding from various bodies.

From the above procedures, and in common with all audits under ISAs (UK), we identified the disclosure of adjusting items as a key audit matter with respect to potential risk of fraud, particularly in areas where management is required to exercise significant judgement.

We tailored our response to those identified risks to include enquiring of management concerning actual and potential litigation and claims, performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, and reviewing correspondence with HMRC and other regulatory bodies.

In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal entries and other adjustments; assessed whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluated the business rationale of any significant transactions that are unusual or outside the normal course of business, of which there were none.

Whilst our engagement team were fully briefed on the fraud risks and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit, we draw attention to inherent limitations in the scope of audit procedures since fraud, by its nature, may involve deliberate concealment, misrepresentation or collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Page 7

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF STRABANE COMMUNITY PROJECT

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.

MICHAEL BARNETT

MICHAEL BARNETT (Senior Statutory Auditor) for and on behalf of McAleer Jackson Ltd Chartered Accountants & Statutory Auditors Church House 24 Dublin Road OMAGH Co. Tyrone BT78 1HE

Date: 15 December 2023

Page 8

STRABANE COMMUNITY PROJECT

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted
funds
Notes
£
INCOME AND ENDOWMENTS FROM
Donations, legacies and grants
2
286,253
Charitable activities
Luncheon Club & Parlour
81,471
Oil Stamps
138,945
Grassroots Cafe & Social Supermarket
26,984
Community Garden
-
Investment income
3
3,440
Total
537,093
EXPENDITURE ON
Charitable activities
4
Luncheon Club & Parlour
84,909
Oil Stamps
136,566
Grassroots Cafe & Social Supermarket
79,123
Community Garden
3,320
Other Charitable expenditure
219,069
Empowering women programme
17,450
Access to food Covid-19
-
Total
540,437
NET INCOME/(EXPENDITURE)
(3,344)
Transfers between funds
15
(2,197)
Net movement in funds
(5,541)
RECONCILIATION OF FUNDS
Total funds brought forward
19,325
TOTAL FUNDS CARRIED FORWARD
**13,784 **		 Restricted
funds
£
5,675
-
-
-
-
-
5,675
-
-
-
-
7,793
-
-
7,793
(2,118)
2,197
79
258,008
**258,087 **		 2023
Total
funds
£
291,928
81,471
138,945
26,984
-
3,440
542,768
84,909
136,566
79,123
3,320
226,862
17,450
-
548,230
(5,462)
-
(5,462)
277,333
271,871		 2022
Total
funds
£
267,489
114,819
84,495
17,288
618
2,360
487,069
139,448
93,080
80,298
11,837
156,194
15,404
13,239
509,500
(22,431)
-
(22,431)
299,764
277,333

The notes form part of these financial statements

Page 9

STRABANE COMMUNITY PROJECT

BALANCE SHEET 31 MARCH 2023

Notes
FIXED ASSETS
Tangible assets
9
CURRENT ASSETS
Stocks
10
Debtors
11
Cash at bank
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
FUNDS
15
Unrestricted funds
Restricted funds
TOTAL FUNDS		 2023
£
287,288
674
25,444
18,235
44,353
(59,770)
(15,417)
271,871
271,871
13,784
258,087
271,871		 2022
£
297,107
701
11,674
8,389
20,764
(40,538)
(19,774)
277,333
277,333
19,325
258,008
277,333

The financial statements were approved by the Board of Trustees and authorised for issue on 15 December 2023 and were signed on its behalf by:

DECLAN BOLAND PP

............................................. Rev Fr D Boland - Trustee

PERPETULA FOLEY

............................................. P Foley - Trustee

The notes form part of these financial statements

Page 10

STRABANE COMMUNITY PROJECT

CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2023
2023
Notes
£
Cash flows from operating activities
Cash generated from operations
1
6,902
Net cash provided by/(used in) operating activities
6,902
Cash flows from investing activities
Purchase of tangible fixed assets
(7,872)
Sale of tangible fixed assets
200
Net cash used in investing activities
(7,672)
Cash flows from financing activities
Loan repayments in year
(500)
Net cash used in financing activities
(500)
Change in cash and cash equivalents in the
reporting period
(1,270)
Cash and cash equivalents at the beginning
of the reporting period
2
1,690
Cash and cash equivalents at the end of the
reporting period
2
420		 2022
£
(7,315)
(7,315)
(2,799)
250
(2,549)
(1,500)
(1,500)
(11,364)
13,054
1,690

The notes form part of these financial statements

Page 11

STRABANE COMMUNITY PROJECT

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2023

1. RECONCILIATION OF NET EXPENDITURE TO NET CASH FLOW FROM OPERATING ACTIVITIES

2023
£
Net expenditure for the reporting period (as per the Statement of
Financial Activities)
(5,462)
Adjustments for:
Depreciation charges
12,872
Loss on disposal of fixed assets
4,619
Decrease in stocks
27
(Increase)/decrease in debtors
(13,770)
Increase/(decrease) in creditors
8,616
Net cash provided by/(used in) operations
6,902
2.
ANALYSIS OF CASH AND CASH EQUIVALENTS
2023
£
Notice deposits (less than 3 months)
18,235
Overdrafts included in bank loans and overdrafts falling due within one year
(17,815)
Total cash and cash equivalents
420
3.
ANALYSIS OF CHANGES IN NET FUNDS/(DEBT)
At 1.4.22
Cash flow
At
£
£
Net cash
Cash at bank
8,389
9,846
Bank overdraft
(6,699)
(11,116)
1,690
(1,270)
Debt
Debts falling due within 1 year
(1,500)
500
(1,500)
500
Total
190
(770)		 2022
£
(22,431)
13,832
1,011
49
25,641
(25,417)
(7,315)
2022
£
8,389
(6,699)
1,690
31.3.23
£
18,235
(17,815)
420
(1,000)
(1,000)
(580)

The notes form part of these financial statements

Page 12

STRABANE COMMUNITY PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Critical accounting judgements and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Recoverability of debtors

Estimates are made in respect of the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the aging profile of debtors are considered.

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on future investments, economic utilisation and the physical conditions of the assets.

Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Support Costs Allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities, such as office costs, administrative payroll. They are incurred directly in support of expenditure on the objects of the charity. Where support costs incurred cannot be directly attributed to particular headings they have been allocated to all the activities on a global basis to ensure that no gain or loss arises from the charitable activities.

Tangible fixed assets

Depreciation is provided at the following annual rates to write off each asset over its estimated useful life.

The notes form part of these financial statements

Page 13

STRABANE COMMUNITY PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES - continued

Tangible fixed assets

Freehold property - 2% straight line Plant and machinery - 20% on reducing balance Motor vehicles - 20% on reducing balance

Tangible assets are stated at cost or at valuation, less accumulated depreciation.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Goods donated for use or resale are not valued as stock but instead recognised as income when sold.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transactional price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

2. DONATIONS, LEGACIES AND GRANTS

Donations
Grants		 2023
£
48,379
243,549
291,928		 2022
£
36,958
230,531
267,489

continued...

Page 14

STRABANE COMMUNITY PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

2. DONATIONS, LEGACIES AND GRANTS - continued

Grants received, included in the above, are as follows:

Department for Communities
Sisters of Mercy
Derry City & Strabane Council
Skills North West
B Friend - Omagh Volunteer Centre
National Lottery Community Fund
HMRC - CJRS
Kathleen Graham Trust
Dormant Accounts
Department of Health
3.
INVESTMENT INCOME
Rents received
4.
CHARITABLE ACTIVITIES COSTS
Luncheon Club & Parlour
Oil Stamps
Grassroots Cafe & Social Supermarket
Community Garden
Other Charitable expenditure
Empowering women programme		 Direct
Costs
£
45,089
128,640
20,570
3,320
-
13,625
211,244		 2023
£
136,725
-
11,989
42,988
-
9,800
-
5,000
35,367
1,680
243,549
2023
£
3,440
Support
costs (see
note 6)
£
39,820
7,926
58,553
-
226,862
3,825
336,986		 2022
£
128,000
3,000
26,723
28,755
2,478
10,000
4,389
10,000
17,186
-
230,531
2022
£
2,360
Totals
£
84,909
136,566
79,123
3,320
226,862
17,450
548,230

Page 15

continued...

STRABANE COMMUNITY PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

5. SUPPORT COSTS

Luncheon Club & Parlour
Oil Stamps
Grassroots Cafe & Social Supermarket
Other Charitable expenditure
Empowering women programme		 Finance
£
-
520
-
1,635
-
2,155		 Governance
Other
costs
£
£
39,820
-
7,406
-
58,553
-
216,971
8,256
3,825
-
326,575
8,256		 Totals
£
39,820
7,926
58,553
226,862
3,825
336,986

6. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets
Deficit on disposal of fixed assets		 2023
£
12,872
4,619		 2022
£
13,832
1,011

7. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2023 nor for the year ended 31 March 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2023 nor for the year ended 31 March 2022.

8. STAFF COSTS

STAFF COSTS
Wages and salaries
Other pension costs		 2023
£
219,942
3,525
**223,467 **		 2022
£
198,373
1,347
199,720

The average monthly number of employees during the year was as follows:

Finance and administration
Charitable activity		 2023
4
14
18		 2022
4
14
18

No employees received emoluments in excess of £60,000.

Page 16

continued...

STRABANE COMMUNITY PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

9. TANGIBLE FIXED ASSETS

COST
At 1 April 2022
Additions
Disposals
At 31 March 2023
DEPRECIATION
At 1 April 2022
Charge for year
Eliminated on disposal
At 31 March 2023
NET BOOK VALUE
At 31 March 2023
At 31 March 2022
10.
STOCKS
Stocks		 Freehold
property
£
298,993
-
-
298,993
33,395
5,980
-
39,375
259,618
265,598		 Plant and
machinery
£
109,781
7,872
-
117,653
84,806
6,569
-
91,375
26,278
24,975		 Motor
vehicles
£
25,856
-
(14,706)
11,150
19,322
323
(9,887)
9,758
1,392
6,534
2023
£
674		 Totals
£
434,630
7,872
(14,706)
427,796
137,523
12,872
(9,887)
140,508
287,288
297,107
2022
£
701

continued...

Page 17

STRABANE COMMUNITY PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

11.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade debtors
Other debtors
Prepayments
12.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Bank loans and overdrafts (see note 13)
Other loans (see note 13)
Trade creditors
Social security and other taxes
Accrued expenses
13.
LOANS
An analysis of the maturity of loans is given below:
Amounts falling due within one year on demand:
Bank overdrafts
Other loans
14.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
funds
funds
£
£
Fixed assets
29,201
258,087
Current assets
44,353
-
Current liabilities
(59,770)
-
13,784
**258,087 **		 2023
£
21,793
2,381
1,270
25,444
2023
£
17,815
1,000
25,435
6,127
9,393
59,770
2023
£
17,815
1,000
18,815
2023
Total
funds
£
287,288
44,353
(59,770)
271,871		 2022
£
7,534
2,381
1,759
11,674
2022
£
6,699
1,500
23,803
195
8,341
40,538
2022
£
6,699
1,500
8,199
2022
Total
funds
£
297,107
20,764
(40,538)
277,333

continued...

Page 18

STRABANE COMMUNITY PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2023

15. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Designated funds cashflow reserve
Restricted funds
Fixed assets funds
TOTAL FUNDS
Net movement in funds, included in the above are as
Unrestricted funds
General fund
Restricted funds
Fixed assets funds
TOTAL FUNDS		 At 1.4.22
£
4,325
15,000
19,325
258,008
277,333
follows:		 Net
movement
in funds
£
(3,344)
-
(3,344)
(2,118)
(5,462)
Incoming
resources
£
537,093
5,675
542,768		 Transfers
between
At
funds
31.3.23
£
£
(2,197)
(1,216)
-
15,000
(2,197)
13,784
2,197
258,087
-
271,871
Resources
Movement
expended
in funds
£
£
(540,437)
(3,344)
(7,793)
(2,118)
(548,230)
(5,462)

Fixed asset fund

The fixed asset fund relates to Property and equipment. It consists of the cost of the assets less the amortisation and grants received to fund the acquisition.

The main funders were Community Foundation for Northern Ireland.

Restricted Activities Fund

This fund relates to monies receivable at 31 March 2023 for restricted purposes less creditors to be paid. The charity operates a policy of transferring any deficit on restricted activities to the unrestricted fund at the end of the financial year.

continued...

Page 19

STRABANE COMMUNITY PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2023

16. CONTINGENT LIABILITIES

There is a contingent liability to repay all grant monies should they not be distributed under the terms of the various initiatives.

The trustees do not anticipate any repayment falling due under the terms on which grants were received.

A funder, The Community Foundation for Northern Ireland, has a legal charge over the Charity's premises at 42 Barrack Street Strabane

17. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2023.

Page 20

STRABANE COMMUNITY PROJECT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

INCOME AND ENDOWMENTS
Donations, legacies and grants
Donations
Grants
Investment income
Rents received
Charitable activities
Grassroots Cafe
Luncheon club & parlour
Oil Stamps
Social Supermarket
Community Garden
Total incoming resources
EXPENDITURE
Charitable activities
Luncheon club and parlour purchases
Oil stamps
Social supermarket and cafe purchases
Community garden expenses
Covid-19 Access to Food Programme
Empowering women programme costs
Support costs
Finance
Bank charges
Other
Wages
Pensions
Rent
Carried forward		 2023
£
48,379
243,549
291,928
3,440
552
81,471
138,945
26,432
-
247,400
542,768
45,089
128,640
20,570
3,320
-
13,625
211,244
2,155
219,942
3,525
20,500
243,967		 2022
£
36,958
230,531
267,489
2,360
6,898
114,819
84,495
10,390
618
217,220
487,069
59,400
83,785
16,817
11,837
13,239
15,404
200,482
1,520
198,373
1,347
20,500
220,220

This page does not form part of the statutory financial statements

Page 21

STRABANE COMMUNITY PROJECT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023

Other
Brought forward
Insurance
Light and heat
Telephone
Stationery, printing and promotion
Sundries
Foodbank
Motor and travel costs
Repairs and maintenance
Software
Volunteer expenses
Workshop and events
Freehold property
Plant and machinery
Motor vehicles
Loss on sale of tangible fixed assets
Governance costs
Accountancy and legal fees
Total resources expended
Net expenditure		 2023
£
243,967
6,586
8,237
7,348
2,777
608
24,593
3,608
1,064
316
1,640
8,340
5,980
6,569
323
4,619
326,575
8,256
548,230
(5,462)		 2022
£
220,220
6,680
6,249
6,712
2,697
625
20,412
3,350
1,152
386
930
8,451
5,980
6,244
1,608
1,011
292,707
14,791
509,500
(22,431)

This page does not form part of the statutory financial statements

Page 22