Broca ri han District Re enerati ecom an Limi n Grou Guarantee CavanaghKelly" Company Registration Number: N1031388 Charity Registration Number: 103699 Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) Annual Report and Unaudited Financlal Statements For the year ended 31 October 2023
Broca h and District Re rita eneration Grou ed CONTENTS For the ar ende 31 October X02 Page General Jnfonnation Directors, Report Independent Èxaminerfs Report Statement of Finanaal Activlties Statement of Financial Posltion 9-10 Notes to the Flnancial Statements 11-1.9 CavanaghKelly• Chartered Accountants & Statutory Audltors Page I
Broca GE ERAL INFORM no Board of Directors Mr Patrick Bell Mr Sean Donnelly Mr Franos Hughes Mr Martin Morris Mr Charfes McKee Company Secretary Mr Martln Morris Reglstered Office 187a Mountioy Road i Castlebay Resource Centre Dungannon Co. Tyrone BT71 5DY Company Registratlon Number N1031388 Charity Reglstratlon Plumber 103699 Independent Examlners CavanaghKelly Chartered Accountants 36-38 Northland Row Dun9annon Co Tyrone BT71 6AP Bankers Bank of Ireland 24 Scotch Street Dungannon Co Tyrone BT70 IAR CavanaghKeMy• Page 2 Chartered. Accountants & Statutory Auditors
ca han Distr* om eneration Grou DIRECTORS. REPORT for th ear ended 31 0 r20 The Thrèttors, who arè the trustÈe5 for thè purposè b'f chèw 13w, have plèèsure in p'resenfiny their report and the unaudited financial Statements of the charitable company for the year ended 31 October 2023. The financial statements have been prepared in accordance with the Statement of Recommended Practice -Accounting and Reporting by Charitie5° (FRS 102). Unlted fingdom Generally Accepted Accounting PRctlce and the Companies Art 2006. Reference and Admlnlstration Detalls The reference and administration details of the charltable company are as shown on page 2. Objectives and Activltles Brocagh and District Regeneration Group was formed in 1996 wlth the specific aim of promoting economic and social regefteratton of the Brocagh area, formlng parts of the Washingbay Ward. . Dungannon and the Klltycolpy Ward, Cookstown, through the provision of infomation, support services and workspace. The objectives are to encourage. support and develop enterprlse in the Brocagh area through the provision of informatlon, support ServIS and workspace. It also offers communlty faclllties and alms to fvrther develop opportunities for community engagement and actlvlties as well as creating shoreline facilities that encourage tourism. The strateglc objertives of the group are as follows: To provide and maintain adequate communlty space for'actlvlties. To provlde workspace unlts for buslness creation and development locally; and To create shoreline facilities to encourage tourlsm growth. Publlc Benefit Statement The Directors of Brocagh and .District Regeneration Group o>nfirm that they have complied wlth thelr duties under section 4(6) of the Charities Act (Nortkn Ireland) 2008 to have regard to the Charity Commissfon fDr Northem Ireland's guidanEe Dn publlc benefit anKI that the public benefit requirement has informed the actlvities of the charitable company In the year ended 31 October 2023. Achievements •nd Perfomiance The group ha5 ljeen successfvl in the development of Castlebay Communlty Resource Centre olfering communlty, enterprise and shorine facilities. The Dlrectors are confident that the .charitable company continues to meet its perforn7ance objectives to benefit the local community. The charltable company continues to recelve funding from local bodies and runs events throughout the course of the year. Financlal Revlew Financ•al Performance The flnancial performance was in line with the Board of Directors. expectstions. The charitsble company remains in a sound financial posltion at the yeèr end. The results for the year a set out in detall on pages 8 to 19. The charitable company returned net outgoing resour for the year of È25,950 (2022: net outgoing resources of E22.686). CavaTraghKelly¥ Chartered Accouiitants & SLitutory Auditor5 Page 3
roca h and District Re eneration Grou IREcfoRS' REPORT for he nded 31 0 ober 202 Con inued Financial Review (Contlnued) Financial Performance (Continued) At 31 October 2023, the total funds of the charitable company amounted to £585,844 (2022: £611,794) comprising. of £103,558 of unrestricted and £482,286 of restricted funds. Pfincipal sour$ of fvnding and how this has SUPPOrted the key objectives of the charitable corripany are disdosed in the notes to the financiaf statements. Reserves Pollcy The charitable company does not malntaln a formal reserves policy however the Board of Dirertors continue to monltor the level of reser4es held by the charitable compaThy and are satisfied that these are adequate to meet any unforeseen expenditure incurred. Strncture. Governance and Management Oryanlsational Strurturn The charitable company is a company limited by guarantee, not havlng a share capltal. The charltable company was establlshed under a Memorandum of Assoclatlon whlch establlshed 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 retlre by rotation shall be those who have been longest In office slnce thelr last election, and the relevant motlon will be put at tho Annual GeneFal Meetlng. A retirlng member shall bo aligiblo for repelectlon. Dlrertors The Dlrectors during the year are the sarne as the Directors as listed on page 2. Taxatlon Status The charitable company Is recognlsed as a charlty by HM Revenue & Customs. Accordingly, the charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Sectlon 256 Taxatlon of Chargeable Gains Act 1992. Dir•ctor6' Responsibllltles The D1CtorS are responsible for preparlng the financial statements in accordance wlth applicable law and United Klngdom Accounting Standards (United Kingdom Generally Accepted Accountlng Practice). Company law requires the Directors to prepare financlal statements for each financial year whlch glve a true and. falr vlew of the state of the affairs of the charltable 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 financlal statements the Dirertors are Fequlred to: select sultable accountlng policies and apply them consistently; observe the methods and principles in the Charities SORP (FRS 102); - make }udgernents and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any materiaf departures dlsclosed and explained in the financial statements; and Ppare the financlal statements on the goln9 conrn basis unless It Is inappmpriate to presume that the charitable company will contlnue in operatlon. CavanaghKelly.. Chartered Accountants & Statutory AuditOTS Page 4
Broca ar h and Distrirt Re ble eneration G ou antee REcfoRS' REPO T for the earend d3 Octobe 2023 Con in ed birectors. lie5ponsibilities (Continued) The Directors a responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financlal position of the charitable company and to enable them to ensure that the flnandal statements comply with the Companies Art 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taklng reasonable steps for the preventlon and detection of Iraud and other irregularities. SmaTI Companies Exemption The above report has been ppared in accordance with the special provlslons relatin.g to small companles within-Part 1.5 of the Companies Art 2006. Thls report was approved by the Board of Directors on 25 October 2024 and signed on Its behalf by: r Martin Morr SECREfARY Num 031 ra CavanaghKellyi Chartered Accountants & Statutory Auditors Page 5
INDEPENDENT EXAMINER'S REPO tatements of Bro han 1st 023 T to the members on the unaudited eratton Gro f rthe ear ed31 inancial be We report on the financlal statements of the charitable company for the year ended 31 October ' 2023 which are set out on pages 8 to 19. Respective Responslbilities of Directors and Independent Examlner As the charltable company's Directors. who are the trustees for the purpose of charity law. you are responsible for the preparation of the financial statements In accordance with the requirements of the Companies Art 2006. Havtng satisfied ourselves that the charltable company is not subject to audlÈ under cornpany law, and is eli9ibl8 for.iAdependent examinatlon, it is our responslbility to: examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008. follow the procedures lald down In the general Directions given by the Charity Commlssion for Northefn Ireland under sectiOFI 65(9){b> of the Charltles Act {Northem Ireland) 2008. and state whether particular matters have come to our attentlon. Basls of Independent Examlnerfs Report We have examined your charltable company's financial statements as required under section 65 of tha Charitses Act (Northem Ireland> 2008 and our examination was carrled out In accordanc6 with the general Direttlons given by the Charlty Commlssion for Northern Ireland under section 65(9)Cb) of the Charities Act (Northern Ireland) 2008. The examlnation included a review of the accountlng records kept by the charitable company and a comparlson Df the accounts presented with those records. It also indudes conslderation of any unusual items or disclosures In the accounts and seeklng explanations from you as charltable. company Dlrectors concernin9 any such matters. Our role Is to stste whether any materlal matters have come to our attentlon glvlnq us cause to believe: That accountlng record5 were not kept sn accordan wlth section 386 of the Companies Act 2006: or That the accounts do not accord wlth those accounting records; or That the accounts do not comply with the accounttng requlrements of seLtlon 396 of the Companles Act 2006 and with the methods and princlples of the Charltles Statement of Recommended Practice applicable to charlties preparing their accounts in accordance with the Flnanclal Reportlng Standard applicable in the UK and Republlc of Ireland; or That there Is further Informatlon needed for a proper understanding of the accounts to be reached. rAvanaghKeliy. Chartered Ac£ouDtants & Ststutory Auditors Page 6
Broca h and District Re eneration Grou Guar INDEPE ENT EXAM Eli's REPORT to the members statements of Broca handDI ict Re eneration Grou for 202 Contin the uftaudited linan r ended 31 October Independent Examinerfs Statement We have completed our examination ènd have no ¢oncems in respect of the matters Ilsted above and, in connection with following the Directions of the Charity Cornmission ft)r Northem Ireland, we have found no matters that requlre drawing to your attentlon. CAVANAGHK Chartered Accountants & Statutory Auditors 36-38 Northland Row Dunyarynon Co. Tyrone 8T71 6AP Date: 25 Ortober 2024 CavanaghKellyi Chartered Accountants & Statutory Auditors Page ?
UnT4•trl¢t•d R••trl¢t•d Fund Fund• Tot41 Pund• 2013 Unrestrltttd ReFtrtcted Funds Funds 202Z Total Funds 2022 2023 2023 2022 XNCOMe AND INDQWMeP4TS Income frorn tharltabl• Actlvltles (Note 31 othèr Incorne (Note 31 TOTAL INCOME AND NDOWMEN7$ 21,746 5,252 26,990 13,307 17,264 90,571 24,217 5,252 29,469 15,632 17,264 32,B96 ReSOUR¢ES IXPENOID Cherfroble Actlvltle5 (Note 4) TOTAL ftESOURCts expeNPIP 29,822 79,822 25,597 55,41• 55,419 27,473 28,LOg SS,582 SS.582 N•t Incomlngl(o¥tg•ln•) ra•oye1 l•r th• yellr 15,6051 120,3451 (25,930) 111,9411 110,8451 (22,686) Trpnglors between funfls 2,500 (2,SOOI 8alonc• brnught forwerd 199,163 502,631 611,794 118,504 515,976 634,480 8•hnc• rrI•d fov*•fd 482 2B6 58 163 31 611 94 The above Statement of Fln•nclal Artlvltles Includes all InloMaOn as requlred to bvt dlgclo3ed by the Companles A¢t 2QO6. All ol the 4rtlvltles ol the chèdtable rnPanY are das$•d ¥ contlnylDg. Th• Statttrnent of Flnand•l Actyvltl•s Includes all 94lns and losseB CognISed durtn9 the year. Th• not•s on pao¢$ 11 t? 19 fom an Inteoral port of th• flnan¢lal $t•tem•nts. Ca¥qn•9hKelly, ¢hort•r•d A£Untant• th •t•lOry Audltgr• Page a
Broca h and D"strict Re bl eneration Grou it Guaran ATEMENT OF FIN CXAL POSITION as at 31 ober 2023 Note 2023 2022 Non-current Assets 597.951 621,534 Property. plant and equipment Current Assets Receivables Cash and cash equlvale'nts 207 756 587 1,343 207 ayables: Amounts lalling due wlth'ln one year 10 Net current assets / (fiabilltles) Total assets less current fiabFlitles 589.398 616,769 Payables: Amounts falllng due after one year li {3,554) (4.975) Nèt A*sets REPRESENTED BY: Unrestricted funds Restricted fvnds Total Funds 13 13 13 103.558 482 286 109,163 502 631 511 794 The Directors, statements shown on the followlng page form part of this Statement of Flnanclal Position. CavanaghKellyp Chartered Accountants & Statutory Auditors Page 9
Broca h and Dlstrlct Re eneration Grou ij ATE ENTO FINANCIAL posrrIoN 31 Octob 023 Con inued These financial statements have been prepared In accordance wlth the provisions applicable to the small companies, reglme within Part 15 of the Companies Act 2006. For the flnancial year ended 31 October 2023 the company was entitled to exemptlon from audli under sectlon 477 of the Companies Act 2006. The Dirertors conflrm that the members have not required the company to obtain an audit of its financlal statements for the year in question In accordance with section 476 of the Companies Act 2006. The Dlrectors acknowledge thelr responslbilitles for ensuring that the charitable company keeps accounting records which comply with Section 386; and for pParIng financial statements which give a tru& aftd falr view of the state of affaiFS of th6 chèritabl8 company as at th6 end of the financial year and of Its incomlng or outgolng resources for the flnancial year In accordan with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companles Act 2006 lating to financlal statements, so far as applicable to the charitable company. The notes on pages 11 to 19 form an Integral part of the flnandal statements. The financlal statements were approved and authorlsed for issue by the Board of Dlrertors on 25 October 2024 and signed on their behalf by: Sean DoAnellv DIREcfoR Martin Morfls DIREcfoR CavanaghKeUy.. Chartered Accountants & Statutory Auditors Page 10
Broca h and District Re leco eneration Grou NOTES TO THE FINAIICIAL STATEMENTS For the ear ende 31 October 20 I. GENERAL INFORMATION Brocagh and Dlstrfct Regeneratlon Group Is a charltable company limited by guarantee incorporated in Worthern Ireland. In the event of the Charitable company being wound up. the liabllity in respect of the guarantee Is Ilmited to £1 per member of the charitable cornpany. The address of the registered offlce is as shown on page 2. The charltable company const'itutes a public beneTIt entity as dellned by FRS 102. 2. ACCOUNTING POUCIES The following accountlng policies have been applled conslstently in dealing with items which are consldered materlal In relatlon to the charitable company's hnanclal statements. 2.1 Ststement of Compllan The financial statements have been prepared In accordance with Accounting and Reportlng by Charites: Statement of Recommended Practlce (SORP) appllcable to charltles preparing thelr financlal statements in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FRS IIJ2) effective l Jelnuary 2021 (Second Edition), the Financlal Reportlng Standard appllcable in the Unlted Klngdom and Republic of Ireland (FRS 102) and the Companles Act 2006. 2.2 Basis of Preparatlon The financial statements are prepared on a going concern basls under the hlstorical cost Convention unless otherwise stated In the relevant accounting pollcy. Historical cost Is 'generally based on the f&lr value of the conslder8tlon glven In exchange for assets. The following accounting policles have been applled consistently in dealing with items which are consldered materlal In relatlon to the tharitable company s financial statements. 2.3 Cash Flow Statement The c.harltable cf)mpany has applied Update Bulletin 2 as pubHshed on 5th October 2018 (effectlve l January 2021) and does not Include a cash flow statement on the grounds that it is applying FRS 102 Section IA. 2.4 Income and Endowments (l) Charltable Actlvltles Income from charltable activitles Indudes Income Tecelved under contract or where entitlement to grant funding is subject to specific performan conditions. It Is recognised a5 earned as the related services or goods are provided. Grant income is recognlsed in the Statement of Flnancial Activities when receivable. Grant Income Included in this cat.egory provides fundtng to. support projects and is recognlsed where there TS entitlement, certalnty of recelpt and the amount can be measured wlth sufficient refiability. CavanaghKelly* Chartered Accountants & Statutory Auditors Page 11
ca h and District Re eneration Grou NOTES TO THE FI ANCIAL STATEMENTS rthe ear ended 31 ctober ZO Continued 2. ACCOUNTING POLICIES (Continued) 2.4 Income and Endowments (Continued) (li) Other Income other income Is recognlsed in the Staternent of Financial Activities where there is entitlement, certainty of recelpt and the amount can be measured with sufficlent rellablllty. 2.5 Expenditure Expendlture is recognised when a Ilablllty Is Incurred. Contractual arrangements and performance related grants are recognised as goods and servlces are supplied. Where costs cannot be directly attributed to a particular head4ng j they have been allocated to act&vities on a basls consistent wlth use of resources. Stsff costs and overhead expenses are allocated to artIltIeS on the basis of staff time spent on those actlvltles. (l) Charltable Actlvltles Thls comprises all the resources applied by the charitable company In undertaklng its work to meet its charitable objectlves. Charitable activities will include the costs of governance arrnngements whlch. relate to the general running of the charltable company. 2.6 Fund Accountlng The charltable company has two types of funds for which it is responslble at the year-end: Unrestrlcted Funds - Funds whlch are expendable at the dlscretlon of the Board of Dlrectors in furtherance of the objectives of the charitable company. In additions, funds may be. held in order to TOnCe capital investm8nt and worklng capitaL Restrlcted Funds - Income received for specific purposes. Such purposes are within the overall aims of the charltable company. 2.7 Property, Plant and Equipment and Depre¢•atlon All property, plant and equipment are inltlally recorded at Cost. Depreciation is provided at rates calculated to wrlte off the cost less residual value of each asset over Its expected useful Ilfe, as follows: Land and Buildings Fixtures, Flttlngs & Equlpment Plant & Machinery 20/0 Straight Line 25 % Straight Line 25% Straight Llne 2.8 Trade and Other Receivables Trade and other receivables are Initially recorded at falr value and thereafter stated at Cost less impairment losses for bad and doubtful debts. Cav.anaghKelly Page 12 Chartered Accountants & Statutory Auditors
roca h and District Re Charitable Com eneration Grou NOTES TO T E FINA TEMENTS Forthe ear ended 31 October'20'23 Con inued 2. ACCOUNTING POLICIES (Contsnued) 2.9 Trade and Other Payables Trade and other payab)es are initially recognised at falr value and thereafter stated at cost. 2.10 Taxatlon As a charity, the charitable company is not Ilable to Corporatlon Tax. 2.11 Cash and cash Equivalents Cash and cash equlvalents Include cash in hand, deposits held at call wlth banks, other short term hlghly liquld investments wlth orlglnal maturities of three months or less. 2.12 Financial Instruments (l) Flnanclal assets Baslc financial assets, Including trade and other e1VableS, cash and bank balanS and amounts owed by related partles and are initially recognised at transaction prlce, unless the arran9ement c.onstitutes a flrh3nctng transactloft, where the transaction Is measured at the present value of the future reIpts dlscounted at a market rate of interest. Such assets a subsequently carried at amortised cost uslng the effectlve Interest method. At the end of each porting period financlal assets measured at amortlsed cost are assessed for objectlve evldence of Impairment. If an asset is impaired the Impairment loss is the élfference between the carrytng amount and the present value of the estimated cash flows discounted at the asset's odglnal effectlve Interest rdte. The Impalrment loss Is recognlsed In protit or loss. If there Is decrease in the impairment loss arfsing from an event ocasrring after the Imp3lrment was recognlsed, the Impalrment is reversed. The reversal Is such that the c.urrent carrying .arnount does t exceed what the .carry.ing amount would have been had the Impalrment not prevlously been recognised. The lrnpalrment reversal Is recognised In profit or loss. Flnanclal assets are derecognlsed when (a) t'he contrartual rlghts to the cash nows trom 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 (c) despite having retained some signlflcant flsks and rewards of ownership. control of the asset has been transferred to another party who has the practlcal ablllty to unllaterally sell the a55et to an unrelated third party without Imposing additional restrictions. (li) Financlal liabllltles Baslc flnanclal Ilabllitles, Includlng trade and other payables, bank loans and overdrafts and amounts owed to related partles are initlally recognised at transaction price. unless the arrangement constitutes a financing transattlon. where the debt instrument ts measured at the present value of the future receipts discounted at a market rate of interest. Debt In'strurnents are subSEqUEntly CaTed at amDrtised cost, US7ng the effective iTSterest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the CavanaghKelly• Chartered Accountants & Statutory Auditors Page 13
roca Ch and enera ion Grou tee OTES TO ear ANCI 31 Octo TS tin nd 2023 2. ACCOUNTING POLICIES (Contlnued) extent that 5t Is probable that some or all of the facillty wlll be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down. the fee is capitalised a pre- payment for liquidity services and amortised over the period of the facility to whlch it relates. Trade payables are obllgations to pay for goods or services that have been acqulred In the ordinary cOue of business from suppliers. Accounts payable are dassified as current IlabiliÈies If payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables a recognised Initlally at transactlon price and subsequently measured at amortlsed cost using the effectlve interest method. (iii) Offsettlng Financial assets and liabilitles are oftset. and the net amounts presented In the flnanclal statements when there is a legally enforceable right to set off the recognised amaunts and there is an intention to settle on a net basls or to realise the asset and settle the liablllty slmultaneously. 2.13 Critlcal Accountlng Judgements and Estlmation Uncertalnty Estimates and Jud9ements are contlnually evaluated and are based on hlstorical experlence and other factors, Including expectations of future events that are belleved to be reasonable under the £lrcumstances, Crjtlcal Judgements in applylng the entlty s accountlng policles There are no critical judgements In applylng the charlty's accountlng pollcles. Critical accountlng estsinates and assumptions There are no actual accounting estlmates and assumptlons. 2.14 Flnance Costs Flnance Costs are charged to the Statement of Financlal Actlvltles over the term of the debt. Cav.anaghKellyr Chartered Ac¢ountants & Statutory Auditors Page 14
oca ari hand able Co istrict Re eneration Grou arante NOTES TO XNANCIAL For the ear ended 31 Octob EMENTS Continued 3 INCOME AND ENDOWMENTS Unrestrlcted Restricted Funds Funds 2023 2023 Total Funds 2023 Total Funds 2022 Charitable A¢tlvatFes Rental incorne Grant Income: Health & Soaal Care Board DAERA Keep Northern Ireland Beautiful Mid Ulster Councll Co-operation Ireland Total Income from CharStable Actlvltles 15.996 15.996 13,307 4,016 1,236 4,016 1.236 3,772 1,242 3,000 4,250 5,750 5.750 21,746 5,252 26.998 30.,571 other Income ROCS receipts Donations Total Dther Income 2,471 2.471 .2238 87 Total Income and Endowments Income from charitable actlvltles In the year ended 31 Ortober 2022 of £32,896 was made up of unrestricted funds of £15,632 and restrScted funds of £17,264. CavanaghKelly. Chartered Accountants & Statutory Auditors Page 15
Broca h and Dlstrict Re eco eneration Grou Ll OTES TO THE FINANCIAL sfATEMENTS or he ear ended 31 October 2023 Continue 4 RESOURCES EXPENDED Unrestricted Restrirted Funds Funds 2023 2023 Total Funds 2023 Total Funds 2022 Charltable Activities Wages Insurance and rates Ltght and heat Repairs and maintenance Advertlsing Telephone Accountsncy Bank interest and charges Depreaation Loan Interest Consultancy Sundry expenses Brocagh After Sthool Club Total Resources Expended 400 2,706 5,533 12,007 400 2.706 5.533 13.243 3,870 2,442 5,946 8,934 26 632 1,966 242 24,819 389 2,156 1,236 809 2.296 809 2.296 3,238 657 1,677 251 20,345 23,583 657 1,677 251 Expendlture on charltable activities In the year ended 31 October 2022 of £55,582 was made up of unrestrtcted funds of £27,473 and restrfcted funds of £28, 109. t4Ef XNCOME/(EXPENDrnIRE) FOR THE YEAR Net Incomel(expendlture) Is ststed after charglngl(crediting)' 2023 2022 Depreciation of propertyi plant and equlpment Tndependent Examinerfs remuneratlon 23,583 24,819 INDEPENDENT EXAMZNER'S REMUNERATION The Independent Examlnerfs remuneratlon amounts to a fee of £1,420 (2022: £1,420). CavanaghKeUyN. Chartered Accountants & Statutory Auditors Page 16
Broca istrA eration ited b ou arantee Li OTES T or the THE FI ANCIAL STATEMEN ear ended 310 ober ontinued STAFF cosrs AND EMPLOYEE BENEFTrs The average number of persons employed by the charltable company durlng the year was I (2022: 1). The total staff costs and employee benefit's was as follows: 2023 2022 Wages and salarles (Including soclal securiiy) 400 No employee of the charltsble company recelved total employee beneflts of more than £60,000. 7.1 DIREcfoRS' REMUNERATION The Directors reiVed nor walved any remuneratlon or any other benefits durlng the year and no relmbursements of expenses Incurrnl. PROPERTY, PLANT AND EQUIPMENT Land and Plant and Flxtures. Bulldlngs Machlnery Flttings and freehold Equipment Total Cost At 31 October 2022 Additions At 31 OctobET 2023 1,022,651 6,305 61,310 1,090,266 1,022,651 6,305 61.31 1,090,266 Depreciation At 31 October 2022 Charge for year At 31 October 2023 408,757 6.305 53,670 468,732 429 210 492 315 Net Book Values At 31 Uctober 2D23 597 951 At 31 Ottobèt 2022 613 894 621534 CavanaghKelly• Chartered Accountants & Ststutory Auditors Page 17
Broc rict Re ene on Grou ar blec OTES TO THE F rthe ear nde CIAL sfATEM Octo er 202 Co RECEIVABLES 2023 2022 Taxatlon and soclal security 207 207 756 756 10 PAYABLES: AMOUNTS FALLIIIG DUE WITHIN ONE YEAR 2023 2022 Bank loans and overdrafts Accruals Other credltors 270 4,490 4,362 1,746 11 PAYABLES: AMOUNTS FALUNG DUE AFfER ONE YEAR 2023 2022 Bank loan This loan is secured by mortgage charges and debentures over the charitable company's land and bulldlngs. Bank loan maturlty anatysls 2023 2022 Repayable wlthln one year Repayable between one and two years Repayable between two and five yea¥s Repayable in more than five years 1,572 1,572 4,362 1,572 CavaoaghKellyF Chartered Accountants & Statutory Auditors Page 18
Broca h and Distri Charitable an eneration Limited b antee NOTES T or the THE FINANCIAL STATEMENTS ear end d 31 October 2023 Contin 12 ANALYSIS OF NET ASSETS Unrestricted Funds 2023 Restricted Funds 2023 Total Funds 2023 Total Funds 2022 Property, plant and equipment Current assets Current l ia bi lities Non-cu rrent liabilities 115,665 207 (8,760) 482,286 597,951 207 (8,760) 621,534 1,343 (6,108) 103 558 482 286 585 844 611 794 13 ANALYSIS OF FUNDS Openlng Balance Income Expendlture Transfer Between Funds Closlng Balance Rural Development Council DAERA Health & Social Care Board Mld-ulster Councll DFC Small Grant Lough Neagh Partnershlp Keep Northern Ireland Beautiful Co-operation Ireland Restrlcted Funds 475,207 (17,135) 458,072 1,489 1,236 4,016 (1,651) (4,016) 1,074 5,725 2,500 10,560 (475) (1,250) (220) 5,250 1,250 10,340 2,250 (750) 1,500 100 (25,597) 502,631 5,252 482,286 Unrestrlcted Funds 109,163 24,217 (29,822) 103,558 Total Funds 611 794 585 844 14 CONTINGENT LIABILITIES A contingent liability exists to repay grants received should certain condltlons not be fulfilled by the company. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 19