Company Reglstration Number: N1031388 Charlty Reglstration Number: 103699 Brocagh and District Regeneratlon Group (Charitable Company Llmlted by Guarantee) Annual Report and Unaudited Flnanclal Statements For the year ended 31 October 2021 JB9MJC 52 CIXIPAMES HOUSE CavanaghKeNy"
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) NF ATION Board of Dlrectors Mr Patrick Bell Mr Sean Donnelly Mr Francis Hughes Mr Martin Morris Mr Charles McKee Company Secretary Mr Martin Morri5 Reglstered office 187a Mountjoy Road I Castlebay Resource Centre Dungannon Co. Tyrone 8T71 5DY Company registration number N1031388 Charity reglstration number 103699 Independent examiners CavanaghKelly Chartered Accountants 36-38 Northland Row Dungannon Co Tyrone Bfii 6AP Bankers Bank of Ireland 24 Scotch Street Dungannon Co Tyrone 8T70 IAR Cavana4iKelly"
Brocagh and Distrlct Regeneration Group (Charitable Company Limited by Guarantee) DIRECTORS. REPORT For the year ended 31 October 2021 The Dbrectors, who a the trustees for the purpose of charity law. have pleasu in presenting their report and the unaudited finanoal statements of the charitable CoMnY for the year ended 31 October 2021. The flnanoal statements have been prepared in accordan wlth the Statement of Recommended Prartice -Accounting and Reports"n9 by Charities" (FRS 102). United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006. Reference and Administration Details The reference anrj adminlstration detsils of the charity are a5 shown on page 3. Objertives and Activiti Brocagh and Distritt Regeneration Group was formed in 1996 with the specific alm of promotlng economic and social regeneration of the Brocagh area. fomiin9 parts of the Wa5hingbay Ward, Dunoannon and rhe Killycolpy Ward. Cookstown, through the proviston of Infomiation. support services and workspa. The objertlves are to encourage. support and develop enterprise in the Brocagh area through the provision of infomation, sUprt SeIce5 and workspace. It also offers communlty facllitles and aim5 to further devek>p opportunities for community engagernent and artivitie5 as v4ell as creating" shoreline facilities that encourage tourism. The strategic objectives of the group aré as follows: •To provide and maintain adequate community space for activities,. •To provide wor*5pace units for bUneSS creation and development locaKy; and •To create shorellne faclllties to encourage tOUri5m growth. Publlc Benef4Tt Statement The Dirertors of Bmcagh and District Regeneration Group confirm that they have complied with their duties under section 4(6) of the Charitie5 Act (Northern Ireland) 2008 to have regard to the Charity CommisOn for Northem Ireland's guidance on public benefft and that the public benefit requirement has informed the artivities of the charitabk cornpany in the year ended 31 Ortober 2021. Achievements and Perforniance The group has been successfvl in the devek>pment of Castlebay Community Resource Centre offerlng community, enterprlse and shoreline facilitie5. The Directors are confident that the charttable company contlnues to meets its performance objertives to benefit the local community. The charitable company continues to receive fuTrdin9 from local bodies and runs events throughwt the course of the year. CavanaghKely"
DIRECTORS. REPORT For the year ended 31 October 2021 Financial Review Financlal Perforniance The financial performance was in line with the Board of Directors, expectations. The charitable company remain5 in a sound financial posltion at the year end. The re5Lilts for the year are set out in detail on pages 9 to 21. The charrtable company returned net outgoin9 resources for the year of £7.414 (2020: net outgoing resources of £9,515). At 31 October 2021, the total funds of the charitable company amounted to £634.480 (2020: £641,894) comprising of £118.504 of unrestricted and £515,976 of restricted funds. Principal sources of funding and how this has 5UPPOrted the key objettives of the charitable cornpany are disclosed in the notes to the flnanoal statements. Reserves Policy The charitable company does not maintain a fomial reserves policy however the Board of Dlrectors continue to monitor the level of reserve5 held by the charitable company and are 5atlsfied that these are adequate to meet any unforeseen expenditure incurred. Structure, Governance and Mana9ement Qrganlsational strurture The charitable company is a company limited by guarantee. not havlng a share capital. The charitable company was established Lnder a Memorandum of Assotiation whlch established the objects and powers of the charitable company and is governed urlder its Artides of AssI3t10n. In accordan with the Artides of Association, the members to retire by rotstion shall be those who have been longest in ofFice since their last election, and the levant motion will be put at the Annual General Meeting. A retiring mernber shall be eli9ible for re-election. Directors The Direttor5 during the year are the same as the Directors as115ted on page 3. Taxation Status The charitable company is recogni%d as a tharity by HM Revenue & Customs. Accordingly* the charitable company has availed of the exemptrons contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992. CavanaghKely"
DIRECTORS. REPORT For the year ended 31 October 2021 Dlrectors. Responsibilities The Directors are responsible for preparing the finanoal statements in accor(Sance wlth applicable law and United Kingdom Accounting Standards (Uned Kingdom Generally Accepted Accounting Practice)- Company law requires the Directors to prepa financlal statements for each financial year which 9ive a tnje and fair view of the state of the affairs of the charitable company and of the Incomin9 resources and application of resour, including the income and expenditure, of the charitsble company for that year. In eparing these finanoal statements the th"rertors are required to: •selert suitable accounting pdicies and apply them consistently. •observe the methods and prinoples in the charib.es SORP (FRS 102): •make judgements and estimates that are reasonable and pwdent; •state whether applicable UK Accouniing Standards have been followed, subjert to any material departures dlsclosed and explained in the financial statements- and •prepare the financial statements on the going concem basis unle55 it Is apprOpriate to presume that the tharitable company will continue in operation. The Dlrectors are responsible for keeprng adequate accounting records that dlsclose wlth reasonable accuracy at any time the financial position of the tharitable company and to enable them to ensure that the finar)cial statements comply with the Companies Art 2006. They are also responsible for safeguarding the assets of the charitable cornpany and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Small Companles Exemption The above report has been prepared in accori16nce with the special provi5i0ns lating to small companles Within Part 15 <5 the Companies Act 2006. Thls report Was approved by the Board of Oirertors onQSI >/22 and signed on its behalf by.. Mr Martin Morris Secretary Company Registration Ilumber: 141C031388 Charity Registration Number: 103699 CavanaghKely"
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) Independent Examiners. Report to the members on the unaudited financial statements of Brocagh and District Regeneration Group for the year ended 31 October 2021 We report on the finanaal statements of the tharitable cornpany for the year ended 31 October 2021 which a set out on pages 9 . 21. Respectlve Responsibilltles of Trnstees and Independent Examlner As the choritable company's Dire¢tOTS, who are the trustees for the purpose of charity law, you are responsible for the preparat•on of the firlancial statements in accordance with the requirements of the Companies Act 2006. Having satisfied ourselves that the charitable company Is not subjett to audit under company law, and is eligible for independent examination, it is our sPOnsIbl11ty to- a) examine the accounts Under sertion 65 of the Charities Ad (Northern Ireland) 2008: bl follow the procedures laid down in the general dirertions given by the Charity Commission for Northern Ireland under section 05(9)(b) of the Charities Art (Northern ]laThd) 2008; and c) state whether particular matters have come to our attention. Basis ol Independent Examlner's Report We have examined your charitable company's flnanclal statements as requlred under sectlon 65 of the Chaiitles Act (Northern Ireland) 2008 and our examination was carried out in accordance with the genernl directions given by the Charlty Commlssion for Northern Ireland under section 65{9)Ib) of the Charities Act {Northern Iland) 2008. The examination included a review of the ccounting records kept by the charitable company and a comparison of the account5 presented with those records. It also includes consideration of any unusual iterns or dlsclosures in the accounts and seekin9 explanats.ons from you as charitable company Directors concerning any such matters. Our role is to State whether any material matters have come to our atter•tion giving us cause to believe- a) That accounting records were not kept in accordance ¥Yith section 386 of the Companies Act 2006; or b) That the accounts do not accord with those accounting records; or c) That the accounts do not comply with the accounting requirements of section 396 of. the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to. charities preparing their accounts in accordance with the Flnancial Reporting Standard applicable In the UK and Republic of Iland- or d) That there is further information needed for a proper undetstanding of the accounts to be reached. CavanathKeV
Independent Examiners. Report to the members on the unaudited financial statements of Brocagh and District Regeneration Group for the vear ended 31 October 2021 Independent Examln¢r'$ Statement We have completed our examination and have no concern5 in respect ol the matter5 listed above and. in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no mattets that reqvire drawing to your attention. CAVANAGHKELLY Chartered Accountants & Statutory Auditors 36-38 Northland Row Dungannon Co Tyrone BT71 6AP Date: I?JIL CavanathKelly"
Brocagh and Distrirt Regeneratlon Group {Ch•ritable Company Llmited by Guarantee) Statement of Financial Actlvlties For the year ended 31 October 2021 Funds 2021 Funds 2021 Total Funds 2011 T•tsl Funds 2020 TNCOME AND ENDOWME NTS Income from Charirable Ath¥itles other Income TOTAL INCOME AP4D ENDOWMeNT L5,B78 25.226 41,104 43.224 .74 Exp•ndituve Chartiable activS11ÈS Tot•1 ¢xp•nditure income / (outyoin9) r•sour¢es for the year (4.294) (3,1201 (9.S15} Transfers between funds 8olance bmuWt forward 122,798 SL9,096 641,894 651.409 Balan¢e urrè•d lorvlard 515 976 634 480 64L 894 The above Statement ol Financial Aclivknes In¢deS inforwt# as requlred to be dtsciosed by ihe Companies Act 2006. All of tht activibes of ihe chwitable comp)ny are dassed continuing. The Statement of Finanu¥ Artlvltie5 inCdeS all 9ains and k*sses recognw durin9 the Year. The notes on pa9e$ 12 to 21 lorm Jn irtegral pwt of the financial statemertts. CavanaghKelly'
Broca9h and District Regeneration Group (Charitable Company Limited by Guarantee) Statement of Financial Position As at 31 October 2021 2021 2020 14•tes Non-current Asset5 Property. plant and equipment 636 916 Current assets Receivables Cash and cash equivalents 944 946 16,651 14.478 Payable5: Amounts falling 41ye within one year io Net current assets Transfers bÈtween fvnds Total assets less current Ilabllltles 643,428 647,134 Payables: Amounts fallln9 due after one ' year li (8,948) {S.240) Net Assets REPRESENTED BY: Unrestricted funds Restrirted funds Total Funds 13 13 13 118.504 515 976 634 480 122,798 519 096 The dSrectors' statemerts shown on the following page form part of this Statement of Financial Position. CavanaghKelly" io
Brocagh and DistrSct Regeneration Group (Charitable Company Limited by Guarantee) Statement ol Financial Position As at 31 October 2021 (Continued) These financial statements have been prepared in accordance with the provislons appllcable to the small companies. regime within Part 15 of the Companies Act 2006. For the flnancial year ended 31 October 2021 the company was entitled to exemption from audlt under section 477 of the Companies Act 2006. The Directors confirm that the members have not required the company to obtain an audit of its financial statements for the year in question in accordance with sectlon 476 of the Companies Act 2006. The Directors acknowledge their responsibilities for ensurin9 that the charitable company keeps accounting records which comply with Section 386.. and for preparing financial statements which give a true and fair view of the state of affaits of the charitable cornpany as at the end of the finandal year and of its incoming or outgoing resources for the financial year in accordance wlth the requirements of sections 394 and 395 arnd which othenvise comply with the requirernents of the Companies Act 2006 relating to financial statements, .so far as applicable to the charitable company. The notes on pages 12 to 21 form an inte9ral part of the financial statements. The financial statements were approved and athorIsed for bssue by the Board of Olrertor5 and signed on their behalf by: Sean Donnelly DIRECTOR Martin Morros DIREcfoR DATE DA Company ftegistration Nurnb¢r: NIC031388 Charlty Registratlon Number: 103699 C&vthrtQghKelly" li
Brocagh and Distrirt Regeneration Group (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 October 2021 I. GENERAL INFORMATION Brocagh and Oistrirt Regeneration Group is a charitable company limited by guarantee incorporated in Northern Ireland. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company. The address of the reglstered offlce Is as shown on page 3. The charitable company constitutes a publlc benefit entity as defined by FRS 102. 2. ACCOUNTING POLICIES The following accounting policies have been applied consistently Sn deallng wlth Items whlch are considered material in relation to the charrtable company's financial ststement5. 2.1 Statement of Complian¢e The flnancial statements have been prepared in accordance with Accounting and Reporting by Charites: Statement of Recommended Practice {SORP) applicable to charities preparing their flnancial statements in accordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland (FRS 102) effective l January 2021 (Second Edition), the Financial Reporting Standard appllcable in the United Kingdom and Republlc of Ireland (FRS 102) and the Companies Art 2006. 2.2 Basls ol Preparation The financial statements are prepared on a going concern basls. under the h15torical cost convention unless otherwise staled in the relevant accounting policy. Historical cost IS generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charitable company's financial statements. 2.3 Cash Flow Statement The charitable company has applied Update BulletlTr 2 as published on 5th October 2018 (effective l January 2019) and does not include a cash ftow statement on the grounds that it Is applying FRS 102 Section IA. CavanathKelly" 12
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 October 2021 2.4 Income and Endowments (i) Charftable ActlvltSes Incoffle from charltable activlties includes income retrived under contract or where entitlemènt to grant fiJnding 15 subjert to Specific performance conditions. It is recognised ès earned a5 the related services or goods are provided. Grant income is recogniseij in the Statement of Financial Activitles when re1Vable. Grant income included in this category provides fundlng to support projects and is COgniSed where there is entitlement, certainty of receipt and the amfJJnt can be measured with sufficient reliability. (11) other In¢ome Other Income 15 recognised in the Statement of Flnanclal Attlvities where there is entitlement, certainty of recelpt and the amount can be measured with sufficlent reliability. 2.5 Expendlture Expenditu is recognised when a liability Is Incurred. Contrartual arrar•gements and perfomiance related grants are recognised as good5 and ser4ices are supplied. Where costs cannot be dirertly attributed to è particular heading, they have been allocated to actlvitles on basis conslstent wlth use of resources. Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activlties. (l) Charitable Activiti¢$ This comprises all the soUrceS applied by the charitable company in undertakin9 Its work to meet Its charitable obJectSves. Charitable attivities will include the costs of govemance arrangements which relate to the general runnin9 of the charitable cornpany. 2.6 Fund Accoynting The charitable company has two types of fvnds for which It is ponSIble at the year-end: Unr¢strl¢ted Funds - Funds which are expendable at the discretion of the Board of Dlrectors In furtherance of the objectlves of the charitable company. In additions, fvnds may be held in order to finance capital Investment and working capital. Restrlrted Funds - Income received for specific pvrp05es. Such purposes are within the overall aims of the charitable company. CavanathKe 13
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the Year ended 31 October 2021 2.7 Property. Plant •nd Equlpment and Depredatlon All property. plant and equiprnent are Inltlally recorded at cost. Depreciation is provlded at rates calculated to write off the cost less residual value of each asset over its expecied usefvl life, as follows: Land and Building5 Flxtures, Fltttngs & Equipment Plant & Machinery 2% Straight Line 25% Straight Line 25% Straight Line 2.8 Trade and Other Recelvables Trade and other receivables are initially recorded at fair value and thereafter stated at Cost less Impalmient losses for bad and doubtful debts. 2.9 Trade and Other Payables Trade and other payables are initially recognised at fair value and thereafter stated at cost. 2. 10 Taxation As a charity, the charitable company is not liable to Corporation Tax. 2. 11 Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call wlth banks, other short temi highly liquid investments with original maturities of three months or less. 2.12 Finante Costs Finance Costs are charged to the Statement of Financial Activities over the tem of the debt. CavanathKelly" 14
Brocagh and Distrlrt Regeneratlon Group (Charitable Company Limited by Guarantee) Notes to the Flnancial Staternents For the year ended 31 Ortober 2021 2.13 Flnancial Instruments (i) Financial assets 8asic nnandal assets, Including trade and other receivables, cash and bank balances and amounts owed by related parties and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, Whe the transaction Is measured at the present value of the future receipts dlscounted at a market rate of interest, Such assets are subsequently carried at amortised cost usin9 the effective Inte$t method. At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of Impairment. If an asset 15 impaired the impairment loss is the difference between the carrying amount and the present value of the estirnated cash flows discounted at the asset's original effective interest rate. The impaimient Ioss 15 recognised in profit or loss. If there is decrease In the impairment loss arising from an event occurring after the impairment was reco9nised, the impairnient Is reversed. The reversal is such that the Current carrying amount does not exceed what the carying amount would have been had the impairment not previously been recognised. The impaimient reversal is recognised in profit or Ioss. Flnanclal assets are derecognised when {a) the contractual rights to the cash flows from the a55et expire or are settled. or {b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or Ic) despite having retained some significant rlsks and reward5 of ownership* control of the a55et has been transferred to another party who has the practical ablllty to unilaterally Sell the asset to an unrelated third party without lrnposing additlonal restrlctions. ([[} Flnanclal liabilities Basic financial liabilities, indudin9 trade a1 other payables, bank loans and overdrafts and amounts owed to related partles a initially recognised at transaction prfce, unless the arrangement constltutes a financing tran5artion, where the debt instrument 15 measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carrled at amortised cost. Ltsing the effectlve Interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that It is probable that some or all of the facility will be drawn down. In thls case, the fee 15 deferred until the draw-down occurs. To the extent the is no evidence that it is probable thèt some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liqvidlty services and amorti5ed over the period of the facllity to whlch it relates. CavanathKelly" 15
Brocagh and District Regeneratlon Group (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 October 2021 Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of buslness from supplier5. Accounts payable are classified as current Ilabllities if payment is due within one year or less. If not, they are presented as non-current liabllities. Trade payobles are recognlsed initially at transartion Pri and subsequently measured at amortised cost using the effective Interest method. (iii) Offsetting Financial assets and liabilities are offset. and the net amounts presented In the financial statement5 when there Is a legally enforceable right to set off the OgnISed amounts and there is an intention to settle on a net basis or to alIse the asset and settle the liability simultaneously, 2.14 Critical Accountlng Judgements and Estlmatlon Un¢ertalnty Estimates and Judgements are contlnually evaluoted and are based on historical experience and other factors, including expectations of fvtU events that are believed to be aSOnable under the circumstances. Critlcaljudgements in applying the entity's accountin9 polioes There are no critical Judgements in applylng the charity's accounting pollcles. Critical accounting estrmates and assumptions There are no artual accountsng estimates and assumptions. CavanathKelly" 16
Brocagh and District Regeneratoon Group (Charitable Company Limited by Guarantee) Notes to the Financial Statements Foi the year ended 31 Ortober 2021 3. INCOME AND ENDOWMENTS Unrestrkted Restrlcted Total Funds Funds Funds 2021 2021 Total Funds 2021 2020 Charitable Activities Rental Income 15.878 15.878 12.889 7,824 S.820 Donations COVID-19 Grant Grant income: Health & Sodal Care Board DAERA aear Small Grnnt DFC Small Grants CWSAN Transfers betsveen funds Total Incovne from Charitable Activities 3,744 1.482 11.000 5.000 3,7H 1,482 11,000 5.000 3,744 4,089 960 354 7.000 43,224 4.000 2S.226 4,000 41,104 15,878 Other Income ROCS receipts Donations 3.311 560 3.871 3,311 560 3.871 2,040 2,040 Income from tharitable activities in the year ended 31 October 2020 of £43,224 was made up of unrestricted funds of £26,533 and restricted funds of £16,691. CavanaghKelly" 17
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 October 2021 4, RESOURCES EXPENDED Unrestrirted Restri¢¢ed Total Funds Funds FuDd5 2021 2021 Totsi Funds 2021 2020 Charitable activities Wages Insurance and rates Ught and heat Repairs and maintenance Advertlslng Telephone Accountancv Bank interest and charges Entert)Inment Transfers between funds 3.790 1.374 3.790 3.874 6,374 4.081 1,625 8.665 172 2.500 4,175 147 2.982 7.157 147 1,036 1.860 269 1.036 1.860 269 1,131 1,250 280 3.158 21,789 4,381 19.120 23,501 Loan interest ConsultanL 506 3.120 506 692 1.818 3,120 8rocagh After School Club 24.043 28.346 51389 54,779 Expendlture on charitable activltles In the year ended 31 Ortober 2020 of £54.779 wa5 made up of unrestrfcted funds of £23.482 and restricted fijnds of £31.297. CavanaghKelly" 18
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 October 2021 5. NET INCOMEI(EXPENDZTURE) FOR THE YEAR Net Incornel(expenditure Is stated after thargingl(crediting): 2021 2020 Depreclation of property. plant and equlpment Independent Examinerfs remuneratyon Z3,501 21,789 6. INDEPENDENT EXAMINER'S REMUNERATION The Independent Examiner's remuneration amounts to a fee of £1.350 (2020: £1.250) Transfers between funds 7. STAFF COSTS AND EMPLOYEE BENEFITS The average number of persons ernployed by the charftable company during the year I 12020: 2). The t¢tal staff costs and employee benefrt'5 was as follows: 2021 2020 Wages and salarfes (Includlng soclal securlty) 3,790 6.374 No employee of the chartlable ccmpany received total employee benefits of mcffe than E60,000. 7.1 DIRECTORS. REMUNERATION The Directors received nor WaNed any remuneratyons or any other benefits during the year and no relmbursemenrs of expenses incurred. CavanaghKeV 19
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 October 2021 8. PROPERTY. PLANT AND EQUIPMENT Land and Building5 freehold Plant and Machinery Fixtsres, Fittings and equiprnent Total Cost At 31 October 2020 Additions At 31 October 2021 1,001,551 6,305 49,472 1,057.328 1 016 651 55,112 1 078 068 Deprerlation At 31 October 2020 Charye for the year At 31 October 2021 367,977 6.023 141 46.412 420,412 388 310 443 913 Transfers between tunds At 31 October 2021 628,341 141 5,673 At 31 October 2020 633 574 282 636 916 9. RECEXVABLES 2021 2020 Taxation and social security 944 944 946 946 10. PAYABLES: AMOUNTS FALLING DIIE WITHIN ONE YEAR 2021 2020 Bank loan Accruals 4,181 3,264 996 4,260 ,37 11. PAYABLES: AMOUNTS FALLING DiIE AFfER ONE YEAR 2021 2020 Bank loan 8,948 8,948 5.240 5,240 The loan is secured by mortgage charges and debentures over the charitable company's land and buildings CavanathKely" 20
8rocagh and District Regeneration Group (Charitable Company Limited by Guarantee) Notes to the Financial Statements For the year ended 31 October 2021 Bank loan maturity analysis 2021 2020 Repayable within one year Repoyable berween one and two years Repayable between two and five years Repayable In more than five years 4.181 3,264 3.264 3,264 3,264 1.976 12. ANALYSIS OF NET ASSETS Unvestrirted Restricted Funds Funds 2021 2021 Total Funds 2021 Total Funds 2020 Transfers betvdeen funds Current assets Current liabilities Non-current 1Sabllities 118,179 16.651 (7.378) 515,976 634.155 16,651 (7,378) 636,916 14,478 (4,260) 515 976 641 894 13. ANALYSIS OF FUNDS Openin9 Balance Income Expenditure Transfer Between Funds Closln9 Balance Rural Deveopment Council OAEi4 Health & Social Care Board Mid-ulster Council DFC Small Grant Grant re Walkway Restricted Fynds 509,476 (17.135) 492,341 2,320 1.482 3,744 (1,898} 1,904 (3,744) (4.100) (1,250) 220 (28,346) 7,300 4,000 5.000 7,200 3,750 519.096 25.226 515,976 nrestrl¢ted Funds 122.798 19,749 (24,043) 118,504 Total Funds 52,389 634 480 14. CONTINGÉNT UABILmes A contingent liabillty exists to repay grants received should certain conditions not be fulfilled by the company. CavanathKel 21