STRABANE COMMUNITY PROJECT REPORT OF THE TRUSTEES FOR THE YEAR E.YDED 31 MARCH 2023 STRA TEGIC REPORT Financial review Financial position Duriiig Ilie year elided 31 March 2023. the cliarity received total income of £542.768 aiid had an overall deficit of £(5.462}. Incoine from grdnls and donations showed a increase of £24,439 dLiriiig the year. Incorne from cliaritable opcralioi)s Ancr¢ased due to the tUent economic climate and increased demand. Overall resource expenditure increased by £38,730. Some fixed assets weTe purchased during the year but they were glt aided. The charity has incurred defieits for the last nuinber of years wliich l)as dimini5hcd its reserves. The charity h&s net assets of £271.871 as at 31 March 2023 but this mainly consists of land and property whicli is restricted in nature. Reserves policy Wliile funding for tl)e charity'5 core activities is secured unlil 2023. Strdbane Community Project needs a Teserves policy to have sulyicieni cash Tescrves should the company experience cash flow problems or ¢osts involvcd in any potential wind up of the company aiidlor provision for redundancy ¢osl5. Ii was rcconimended tliat reserves equivaleni to two months, Nnning costs for eOTe activities be relained. The largel set was £45,000. At die balance sheet dale, the cl)arity'S lotal unreslricled funds were £13.784 which is less Iliaii the largel¢d amount. This leaves designated funds at £15.000. The Trustees are considering all options to secure and Tctain additional unrestricted fuiiding for the forthcoming year. The level of r¢5erY¢s is reviewed by the IStee$ aiid management regularly thi'ougliout the y¢ar. The minimum level of reseryes for the ongoing needs of the charity is reviewed by tlie trustees 01) aniiual basis. Coing concern The trustees liave assessed, based on the anticipated activities of th¢ charity. thai ihere are adequatc rcsource5 in place to meet Ilje on-going costs of the ¥roup for a miIiimum of 12 Inontlis from Ilie date of sigi)ing the financial slateinents. Tn coming to this concliision, the Inisices have assessed th¢ entity's current financial aTrang¢ments and resources of tlle charity. For this reasoii the fiiiancial statements have been prepared oil a going conceni basis which presumes the realisatioii of assets and liabilities in the nonnal course of business. Futhre plans The year 2022123 seen strab1¢ Cornmunity Pmject (SCP) out a scoping exercise in order to fvrther resliwcture the operational elemen15 of Il)e Organization. Tlie aim and objective was to move towards a more stable and sustainable inodel, 2022123 lias been a successful ycar in terms of evolving our Grass Roots Wellness Café & Food market Social Enleipri5e model in tcrms of generated income and most importantly the Social purpose and what it was Set up to achievc by providing access to low cost food and wrap-around layered support. This has and continues to be a successful year for both iii¢ome & participant's succcsses in rnoving forward to a more suslainable lifestyle. Sirabane Coinmunity Projecl is currenily working on a 5-year applicatioii to apply for botl) capital and rcvcnue fiindinuy For the Commuiitty Garden. This will create further space to deliver holistic therapies. education workshops based on ¢liJnate cliaiige, food festivals and seasonal eveiits. These will complement our already exisling allotments, agaii) building oji 11)e Social purpose and creating a further Social enterprisc model. Furtliennore, tliis will enable us to incorporate our Older peoples, services within the Garden which has been the aim lo streamline the coordinalion of our service and reducing core costs and utilizing our aIready established spaces. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document. a deed of trus¢ and constitutes a limited company, liinited by guarantee, as defined by th¢ Companies Act 2006, Page 2
STRABANE COMMUNITY PROJECT REPORT OF THE TRUSTEFS FOR THE YEAR ENDED 31 MARCH 2023 The trustees of the charity when elected serve until ihe next annual general ineeting at whicli they must be re-elected. T]ie management operate a systern of internal control designed to provide reasonable assurance. biit not absolute assurance gainst material misslalement or loss. They include the. _ r¢Eular eonsideration by the trustees of progress reports regarding operational activities. These are carried out detailii)g performance iiidicalor levels su¢h as paTticipanl numbers and financial breakdowns. Aiiy devialions froin largel8 ar¢ highlighted and contingency actions are implemented. delegation of autliority and segregation of duties among staff. identificatioii aiid mai)ag¢men¢ of risks to which the chariry is ¢xposed. The day to day operations of the charily are overseeii by general manager Ursula Gallagher. REFERENCE AND ADMINISTRATIVE DETAI Registered Company number N1027140 (North¢rn Ir¢land) Registered Charity number 103666 Registered office 42 Barrack Street Sirabane Tyrone BT82 8HD Trustees Rev Fr D Boland R Gilloway P M¢Callioii (resigned 20.01.23) B Haiighey M Coyle P Foley P Perry S McGlade (appointed 23.03.23) HoDor#ry Mcmbers SisieT Fanning Company Secretary P Perry Auditors McAleer Jackson Ltd Cl)artered Ac¢ountunts & statOry Auditors Cliurcli House 24 Diiblin Road OMAGH Co. Tyrone BT78 IHE Bankers Bank of Ireland Abercom Square STRABANE Co. Tyrone BT82 8AH Page 3
STRABANE COMMUNITY PROJECT REPORT OF THE TRUSTEES FOR THE YEAR EliDED 31 MARCH 20Z3 STATEMENT OF TRUSTEES, RESPONSIBILrrIES The tnislees (who are also the dircctOTS of Sirdbane Community Project for the purposes of company law) are responsible for prepariiig the Report of the TTUStees and the financial statements in accordallce with applicable lamr and Unld Kiijgdom Accouiiliiig Standards (United Kingdom Generally Accepted Accounting Practice). Company law reqiiires the tnislecs to prepare financial slaternenls for each financial year wl)icli give a Irue and fair view of the state of affairs of the charitable company and of the incoming resourccs and applicalion of resources, including the income aiid expeiidibjre, of the charitable company for that period. In preparing those fill}CIaL stalellieots, the trustees al'e required lo select suitable accounlitlg policies and then apply Il)em consistently; observe the methods and principles in Ihc Charity SOIITr' n)ak¢ judgements ai)d estimates that #re reasonable and prudent. statc wllether applicable accounting standards have been followed, subject to any material depailures dis¢105ed and explained iii the fiiiancial statements: prepare Ilie fiiiancial statemeiits on th¢ going concem basis unless it is inappropriat¢ to presume tliat the clihritable compaiiy will coiitinii¢ iii business. The trustees are responsible for keeptng proper accounting record5 which disclose with reasoiiable accuracy at any time ihe finaT)¢ial position of Ihe cliaritsble company and to etioble them lo ensure that ilic finaiicial statements coinply with the Compaiiies Act 2006. They are also rcsponsible for saf¢guarding the ass¢¢s of the cliaritable coinpany and lieii¢e for taking reasonable steps for the prevention Jnd dcteclion of fraud and other iegUlaritieS. In so far as Ihe trnstees are aware: there is no relevant aiidit infonnation of which the charitsble company's auditors are unaware. and Ihe tnlstees havc taken all steps that they ought to have lakeii to make Ihemselves aware of any i'elevant audit information and to establisli that tlie auditors are aware of that infomatiOTI. AUDITORS The audiloi'5, McAleer Jackson Ltd, will be proposed for re-appointment at the forthcoming Annual Gen71 Meeting, Tlie directors are of the opinion ihe company is entitled to exemplion from audit in accordaiice with 5eclion 475(2) and section 475(3) of the Companies Act 2006. However, undcr Scclioii 65(] ) of the Charities Act (Nortliern Irelaiid) 2008 an audit 15 required and we would ¢lJoose to have an audit undertaken as it may bc rcqu¢sled in future lunding applicalioiis. Report of tlie tNslees, incotporatiiig a strategic report, approved by order of the board of st¢eS, as the Company directors. 011 15 December 2023 aiid signed on the board's behalf by- DECLANBOLAND PP Rev Fr D Boland- Tnlee P8ge 4