Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) DIRECTORS, REPORT For the year ended 31 October 2021 The Directors, who are the trustees for the purpose of charlty law, have pleasure In pre5entin9 their report and the unaudited financial statements of the tharitable company for the year ended 31 October 2021. The financial Statements have been prepared In èccordance with the Statement of Recommended Practice "Accounting and Repo.n9 by Charities" (FRS 102). United Klngdom Generally Accepted Accounting Prattice and the Companles Act 2006. Reference and Administration Details The reference and admln15tration details of the charity are as shown on page 3. Objectives and Artivitie Brocagh and District Regeneration Group was formed in 1996 with the Specific alm of promotlng economic and social regeneration of the Bro¢agh area. forming parts of the Washingbay Ward, Dungannon and the Klllycolpy Ward, Cookstown. through the proviston of Information, support services and workspace. The objectives are to encourage, 5UPPQrt and develop enterprlse In the Brocagh area through the provislon of information, support serylces and workspace. It also offers community facilities and aim5 to further develop opportunities for community engagement and artivities as well as creating- sholIne facilitles that encourage tourism. The strategic objectives of the group are as follows.. •To provide and maintain adequate community space for artivities- •To provlde workspace unlts for bu51ne55 creation and development localty. and •To create shorellne facillties to encourage tourism growth. Publle Bènéfit Statement The Oirectors of 8rocagh and Dlstrirt Regeneration Group confirm that they have complied with their duties under sertion 4(6) of the Charitles Act (Northern Ireland> 2008 to have regard to the Charity Commission for Northern Ireland's guidance on public benefit and that the public benefit requlrement has infomied the activities of the charitable company In the year ended 31 October 2021. Achievements and Perfomiance The group has been successful In the development of Castlebay Communlty Resource Centre offering community, Ènterprlse and shorellne facilltles. The Oirertors are confldent that the charltable company contlnues to meets its performance objertive5 to benefit the local community. The charitable company continues to receive funding from local bodies and run5 events throughout the course of the year. CavanaghKely"
DIRECTORS. REPORT For the year ended 31 October 2021 Financial Review Financlal Performance The financial performance was in line wlth the Board of Oirector5' expectations. The charitable company remains in a sound finaficial position at the year end. The results for the year are set out in detail on page$ 9 to 21. The charitable company returned net outgoing resources for the year of £7,41412020'. 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 É118,504 of unrestricted and £S15,976 of restricted fund5. Prindpal sources of funding and how this has supported the key objertives of the charitable company are disclosed in the note5 to the flnancial statements. Reserves Policy The charitable company does not maintain a formal resetves policy however the Board of Dlrectors continue to monitor the level of reseryes held by the charitable company and are satisfied that these are adequate to meet any unforeseen expenditijre Incurred. Structure, Governance and Management Oryanlsatlonal structure The charitable company Ss a company limited by guarantee. not havSng a share capital. The charitable company was established under a Memorandum of A550Clatlon whlch established the objects and powers of the charitable company and is governed under its Articles of Association. In accordance with the Articles of Association. the members to retire by rotation shall be those who have been longest in office since their last election, and the relevant motlon will be put at the Annual General Meeting. A retiring member shall be eligible for re-election. Dlrectors The Directors durlng the year are the same as the Dlrectors as Ilsted on page 3. Taxation Status The charitable company is recognised as a charity by HM Revenue & Customs. Accordingly. the chariiable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Att 2010 and Section 256 Taxatlon of Chargeable Gains Art 1992. CavanaghKely"
DIRECTORS. REPORT For the year ended 31 Ortober 2021 Director5. Re5pon$ibilities The Direcrors are responsible for preparing the financial statements in accordance wlth applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requlres the Dlrectors to prepare financlal statements for each financlal year which give a true and fair view of the state of the 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 year. In preparing these financial statements the Directors are required to: •select 5Ultable accounting policies and apply thern consistently i •observe the methods and princiFle5 in the Charities SORP IFRS 102); •make judgements and estimates that are reasonable and prudent" •state whether applicable UK Accounting Standards have been followed, subject to any rnaterial departures disclosed and explained in the financlal 5tatements- and *prepa the financial statements on the going concern basis unless it Is inappropriate to presume that the tharitsble company will continue in operation. The Dlrectors are responsible for keeping adequate accountlng records that dlsdose wlth reasonable accuracy at any time the financial position of the choritable company and to enable them to ensure that the financial statements comply with the CDmpanles Act 2006. They are also responsible for safeguarding the assets of the charitable cornpany and hence for taking reasonable steps for the prevention and detethon of fraud and other irregularities. Small Companles Exemption The above report has been prepared in accordance with the special provision5 lat1Th9 to small companles wsthin Part 15 of the Companies Act 2006. This report wa5 approved by the Board of Directors onQSJ >122 and signed on it5 behalf by.. Mr Martin Morris Secretary Company Registration Number: NIC031388 Charity Registration Number: 103699 CavanaghKely"