Company Registration Number: N1031388 Charlty Registration Number: 103699 Brocagh and Dlstrlct Regeneration Group (Charitable Company Limited by Guarantee) Annual Report and Unaudlted Flnanclal Statements For the year ended 31 October 2024 •AEtQPVIK* 2211012025 COMPANIES HOUSE A10
282
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) CONTENTS For the year ended 31 October 2024 Page General Information Directors, Report Independent Examiner's Report statement of Financial Activities statement of Financial Posltion 9-10 Notes to the Flnanclal Statements Page I
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) GENERAL INFORMATIO Board of Dlrectors Mr Patrick Bell Mr Sean Donnelly Mr Francis Hughes Mr Martin Morris Mr Charles McKee Company Secretary Mr Martin Morrls Registered Office 187a Mountjoy Road I Castlebay Resource Centre Dungannon Co. Tyrone BT71 5DY Company RegistratSon Number N1031388 Charlty Registration Number 103699 Independent Examiners Cooper Parry Audit (Ireland) Limited Chartered Accountants 36-38 Northland Row Dunqannon Co Tyrone BT7 1 6AP Banker5 Bank of Ireland 24 Scotch Street Oungannon Co Tyrone BT70 IAR Page 2
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) DIRECTORS. REPORT for the year ended 31 October 2024 The Directors, who are the trustees for the purpose of charity law, have pleasure in presenting their report and the unaudlted financial statements of the charltable company for the year ended 31 October 2024. The financial statements have been prepared In accordance with the Statement of Recommended Practice "Accounting and Reporting by Charitles" (FRS 102), United Kingdom Generally Accepted Accounting Practice and the Companies Act 2006. Reference and Administration Details The reference and administration details of the charitable company are as shown on page 2. Objectives and Activlties Brocagh and Dlstrict Regeneration Group wa5 formed in 1996 with the specific aim of promoting economic and soclal regeneration of the Brocagh area, forrning parts of the Washingbay Ward, Dungannon and the Killycolpy Ward, Cookstown, through the provlsion of informatlon, support services and workspace, The objectives are to encourage, 5UPPOrt and develop enterprise in the Brocagh area through the provislon of information, support services and workspace. It also offers community facilities and aims to further develop opportunlties for comrnunity engagement and actlvlties as well as creating shoreline facilitSes that encou rage tou rism. The strateglc objectives of the group are as follow5: To provlde and malntain adequate community space for actlvltles; To provide workspace units for business creation and development locally. and To create shoreline faclllties to encourage tourism growth. Public Benellt statement The Directors of 8rocagh and District Regeneratlon Group conflrm that they have complled with thelr duties under section 4(6) of the Charlties Act (Northern Ireland) 2008 to have regard to the Charlty Commlssion for Northern Ireland's guidance on public benefit and that the publlc benefit reouirernent has informed the activities of the charltable company In the year ended 31 October 2024. Achlevements and Performance The group has been successful in the development of Castlebay Community Resource Centre offering community, enterprlse and shoreline facllities. The Dlrectors are confldent that the charitable company contlnues to meet its performance objectives to benefit the local communlty. The charltable company continues to receive funding from local bodies and runs events throughout the course of the year. Financial Review Financial Performance The financial performance was in line with the 8oard of Dlrectors, expectatlons. The charitable company remains in a sound financial position at the year end. The results for the year are set out in detail on page5 8 to 20. The charitable company returned net outgolng resources for the year of £27,048 (2023: net outgolng resources of £25,950). Page 3
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) DIRECTORS. REPORT for the year ended 31 October 2024 (Continued) Financlal Revlew (Contlnued) Financial Performance (Continued) At 31 October 2024, the total funds of the charitable compony amounted to £558,796 (2023: £585,844), comprising unrestricted funds £96,469 (2023.. £103,558) and restricteLI funds £462,327 (2023., £482,286). Principal sources of funding and how this has supported the key objectives of the charitable company are disclosed in the notes to the financial statements. Reserves Policy The charitable company does not maintain a formal reserves pollcy. However the Board of Directors continue to monitor the level of reserves held by the charitable company and are satisfied that these are adequate to meet any unforeseen expenditure incurred. Structure. Governance and Management Organisational Strurture The charitable company is a company limited by guarantee, not having a share capital. The charitable company was establlshed under a Memorandum of Associatlon which established the objects and powers of the charitable company and 15 governed under Its Articles of Association. In accordance wlth the Articles of Association, the member5 to retlre by rotation shall be those who have been longest In office since their last election, and the relevant motion will be put at the Annual General Meeting. A retirFng member shall be eligible for re-election. Dlrectors The Directors durlng the year are the same as the Oirectors as Ilsted on page 2. Taxation Status The charltable company Is recognised as a charlty by HM Revenue & Customs. Accordingly, the charltable company has availed of the exemptions contained In Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992. Directors. Responsibilities The Directors are responsible for preparing the flnanclal statements in accordance wlth applicable law and United Kingdom Accounting Standards (Unlted Klngdom Generally Accepted Accounting Practice). Company law requires the Directors to prepare financial statements for each financial year whlch glve a true and falr vlew of the state of the affalrs 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 Director5 are required to: selecl suitable accounting policies and apply them consistentlyi observe the methods and principles in the Charities SORP (FRS 102); make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless it 15 inappropriate to presume that the charitable company will continue in operation. Page 4
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) DIRECTORS. REPORT for the year ended 31 October 2024 (Continued) Dlrectors, Responslbllltles (Contlnued) The Directors are responsible for keeping adequate accounting CordS that dlsclose with reasonable accuracy at any time the flnanclal 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 irregularitles. Small Companies Exemption The above report has been prepared in accordance with the speclal provisions relatlng to small companies within Part IS of the Companies Act 2006. This report was approved by the Board of Directors on behalf by.. and slgned on Its Mr Martln Secretary orrls Company Registratlon Number: NX031388 Charity Registration Number: 103699 Page 5
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) 114DEPENDENT EXAMINER'S REPORT to the members on the unaudited financial staternents of Brocagh and District Regeneration Group for the year ended 31 October 2024 We report on the financial statements of the charitable company for the year ended 31 October 2024 which are set out on pages 8 to 20. Respectlve Responslblllties of Directors and Independent Examlner As the charitable 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 Act 2006. Havlng satlsfied ourselves that the charitable company is not subject to audit under company law, and is eligible for independent examination, It is our responsibility to: examine the accounts under sectlon 65 of the Charitles Act (Northern Ireland) 2008; follow the procedures lald down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008; and state whether particular matters have come to our attention. Basis of Xndependent Examlner's Report We have examined your charitable company's flnancial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 and our examlnation was carrled out in accordance with the general Directions given by the Charity Commi55ion for Northern Ireland under section 65(9)(bl of the Charlties Act (Northern Ireland) 2008. The examination Included a review of the accounting records kept by the charitable company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeklng explanatlons from you as charltable company Olrectors concernlng any such rnatters. Our role Is to state whether any material matters have come to our attentlon glvlng us cause to believe,. That accountlng records were not kept In accordance wlth section 386 of the Companles Act 2006; or That the account5 do not accord with those accounting record5; or That the accounts do not comply with the accounting requirements of sectlon 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 Financial Reportlng Standard applicable in the UK and Republic of Ireland; or That there is further information needed for a proper understanding of the accounts to be reached, Page 6
Brocagh and Dlstrlct Regeneration Group (Charitable Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT to the members on the unaudited financial statements of Brocagh and District Regeneration Group for the year ended 31 October 2024 (Continued) Independent Examlner's Statement We have completed our examination and have no concerns in respect of the matters listed above gnd, in connection with following the Directions of the Charity Commission for Northern Lreland, we h ve found no matters that require drawing to your attention. Cooper Pa Audit (Ireland) Llmlted Chartered Accountants 36-38 Northland Row Oungannon Co. Tyrone BT71 6AP 05.10.2025 Date: Page 7
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) ST ATEMENT OF FINANCIAL ACTIVITIES (Including an Income & Expenditure account) For the year ended 31 October 2024 Unr•*trlcted R•Btricted Funds Fund$ Tot•1 Fundg Unre•trlcted Restrlcted Funds Fund5 Total Fund5 2024 2024 2024 2023 2023 2013 INCOME A14D ENOOWMENT5 Income from Charitable Activities (Nore 31 Other Income (Note 31 TOTAL INCOME AND ENDOWMEPITS 18,381 8,759 27,140 21,746 5,252 26,998 22,471. 8,759 31.230 24,217 5,252 29,469 RESOURCES EXPENDEO Charitable Aclivlties (Note 41 TOTAL RESOURCES EXPENDED 29,560 29.560 28,718 28,718 58,278 S8,278 29,822 29,822 25,597 25,597 55,419 55,419 Net Incomlng/lvutgolngl r•sources for the ye•r 17,0891 119,9591 127,0481 15,6051 120,3451 125,9501 Transfers between funds Balance brought forward 103,5S8 482,286 585,844 109,163 502,631 611,794 Balanc• carrl•d forward 462 327 558 ?96 103 $58 482 286 585 844 The above Statement ol Financial A£tivities Includes all Inforrnation as requi0 to be éisclosed by the Companies Act 2006. All of the activitie9 of the chjritable company are classed as continuing, The Statement of Financial Activities includes èll gJin5 )nd losses recoonlsed during the year. The notes on pages I I to 20 form an integral part of the financial statements. Page 8
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) STATEMENT OF FINANCIAL POSITION as at 31 October 2024 Note 2024 2023 Non-current Assets Propertyi plant and equipment 574 $39 597 951 Current Assets Receivables Cash ano cash equivalents 2,548 207 2,548 207 Payables: Amounts falling due wlthin one year io Net current assets / (liabilitles) Total assets less current Ilab115tles 560,895 589,398 Payables: Amounts falllng due after one year li {2,099) (3,554) Net Assets S58 796 585 844 REPRESENTED BY: Unrestricted funds Restricted funds Total Funds 13 13 13 96,469 462 327 558 796 103,558 482 286 585 844 The Dlrectors, statefflents shown on the followlng page form part of this Statement of Financial Position. Page 9
Brocagh and District Regeneration Group (Charitable Company Llmited by Guarantee) STATEMENT OF FINANCIAL POSITION as at 31 October 2024 (Continued) These financial statements have been prepared in accordance with the provisions applicable to the small companies, regime withln Part 15 of the Cornpanles Act 2006. For the flnancial year ended 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. The Directors conflrm that the members have not required the company to obtain an audit of Its financial statements for the year in question in accordance with section 476 of the Companles Act 2006. The Directors acknowledge their responsibilities for ensuring that the charitable company keeps accounting records which comply with Section 386; and for preparin9 flnancial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial year and of its incomln9 or outgoing resources for the financial year in accordance with the requirements of sectlons 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relatlng to financial statements. so far as appllcable to the charitable company. The notes on pages 11 to 20 form an integral part of the financial statements. The flnanclal statements were approved and authorlsed for issue by the 8oard of Directors on and signed on their behalf by.. Sean Donnelly Dlrector Martin Morrls Dlrector Company Reglstration Number: N1031388 Charity Registration Number: 103699 Page 10
Brocagh and Dlstrict Regeneratlon Group (Charitable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 October 2024 I. GENERAL INFORMATION 8rocagh and District Regeneration Group is a charltable company limited by guarantee incorporated in Northern Ireland. In the event of the charitable company being wound up, the liability irb respect of the guarantee is limited to £1 per member of the charitable company. The address of the registered office is as shown on page 2. The charitable company constitutes a public beneflt entity as defined by FRS 102. 2. ACCOUNTING POLICIES The followinq accountinq policies have been applied consistently In dealing with Items which are considered material in relation to the charitable company's financial statements. 2.1 statement of Compliance The flnanclal statements have been prepared in accordance with Accounting and Reportlng by Charites.. Statement of Recommended Practlce (SORP) applicable to charities preparing their flnanclal Statements In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) effective l January 2021 (Second Edition). the Flnancial Reporting standard appllcable In the Unlted Kingdom 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 basis under the historical cost conventlon unless otherwise stated in the relevant accountlng policy. Historical cost is generally based on the fair value of the consideration glven In exchange for assets. The followlng accountlng policie5 have been applied consistently in dealing with items whlch are considered materlal in relation to the charitable company's flnanclal statements. 2.3 Cash Flow Statement The charitable company has applied Update Bulletin 2 as published on 5th October 2018 (effective l January 2021 } and does not include a cash flow statement on the ground5 that it is applying FRS 102 Section IA. 2.4 Income and Endowments (i) Charitable Activities Income from charitable activities includes income received under contract or where entitlernent to grant funding is subject to specific performance conditions. It Is recognised as earned as the related services or goods are provided. Grant income is recognised In the Statement of Flnancial Actlvlties when receivable. Grant income included in thls category provides funding to support projects and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Page 11
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 October 2024 2. ACCOUNTING POLICIES (Continued) 2.4 Income and Endowments (Continued) (li) Other Income other income is recognised in the Statement of Financial Activities where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. 2.5 Expendlture xpenditure Is recognised when a liablllty Is Incurred. Contractual arrangements an performance related grants are recognlsed as goods and services are supplied. Where costs cannot be directly attributed to a particular heading, they have been allocated to activltles on a basis consistent with use of resources. Staff costs and overhead expenses are allocated to activities on the basls of staff tlme spent on those actlvlties. (i) Charitable Activities This comprises all the resources applled by the charitable company in undertaklng its work to meet Its charitable objectives. Charitable actlvitles wlll Include the costs of governance arrangements which relate to the general running of the charitable company. 2.6 Fund Accountlng The charitable company has two types of funds for whlch it is responsible at the year-end.. Unrestricted Funds Funds which are expendable at the dlscretlon of the Board of Directors in furtherance of the objectives of Ihe charitable company. In addltions, funds may be held In order to finance capltal Investment and worklng capital. Restricted Funds Income received for specific purposes. Such purposes are within the overall aims of the charitable company. 2.7 Property• Plant and Equlpment and Depreclatlon All propertyi plant and equipment a initially recorded at cost. Depreciation is provlded 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, Fittings & 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 impalrrnent losses for bad and doubtful debts. Page 12
Brocagh and Dlstrict Regeneration Group (Charitable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS {Contlnued) For the year ended 31 October 2024 2. ACCOUNTING POLICIES (Continued) 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 with banks, other short term hig hly liquid Investments with orlgi nal maturlties of three months or less. 2.12 Financial Instruments (l) Financial assets Baslc flnanclal assets, Including trade and other recelvables, cash and bank balances and amounts owed by related partles and are initially recognised at transaction price, unless the arrangernent constitutes a financing transaction, where the transaction is measured at the present value of the future recelpts discounted at a market rate of interest. Such assets are subsequently carried at amortlsed cost using the effective interest method. At the end of each reporting period financlal assets measured at amortised cost are assessed for objective evidence of Impairment. If an asset Is impaired the impairment loss is the dlfference between the carrying amount and the present value of the estimated cash flows discounted at the asset's orlglnal effective interest rate. The impairment loss Is recognised In profit or loss. If there Is decrease In the impairment loss ori5ing from an event occurring after the Impairment was recogni5ed, the irnpairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impalrment not previously been recognlsed. The impalrment reversal Is recognised in profit or loss. Financial assets are derecognised when (a) the contractual right5 to the cash flows from the asset 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 havlng retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated thlrd party without imposin9 addltional restrictlons, (li) Flnancial Ilabilitles Basic financlal liabllities, includlng trade and other payables, bank loans and overdrafts and amount5 owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a flnancing transactlon, where the debt instrument Is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilitie5 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. Page 13
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 October 2024 2. ACCOUNTING POLICIES (Continued) 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 as a pre-payment for liquidity services and amortised over the period of the facility to which It relates. Trade payables are obligations to pay for goods or services that have been acquired In the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due withln one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. (iii) Offsetting Financial assets and Ilabilities are offset, and the net amounts presented in the flnancial statements when there is a legally enforceable right to set off the reco9nised amounts and there 15 an intention to settle on a net basis or to realise the asset and settle the Ilability simultaneously. 2.13 Critlcal Accountlng Judgements and Estimation Uncertainty Estimates and Judgements are continually evaluated and are based on historlcal experlence and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical Judgements in applying the entity's accounting policies There are no crltical Judgements in applying the charity's accounting pollcles. Critical accounting estimates and assumptions There are no actual accountSng estimates and assumptlons. 2.14 Finance Costs Finance Costs are charged to the Statement of Flnanclal Activltles over the term of the debt. Page 14
Brocagh and Dtstrict Regeneration Group {Chariiable Company Limlted by Guar•fit•) NOTES TO THE FINANCIAL STATEME14TS {Contlnu•d) For the year ended 31 October 2024 3 INCOME AND ENDOWMENTS UNrtriCted R•stricted Funds Funds Tolal Fund% 2024 Unrestrlct•d Restricid Funds Funds 2023 1023 Total 2024 2024 2023 Charitable Actl¥ltl•i Rental Income Grant income,. Heairh & Social Core Board DAERA Mld Ulster District Council Mlé Ulster District Council Repairs 9rant 15,881 15,881 15,996 15,996 3,8S6 3,856 4,016 1,236 4,016 1,2J6 5,750 2,500 2,SOO 4,9D3 5,750 4,903 Total Income Irom Charltabl¢ Actlvltle$ 18,381 8,759 27,140 21,746 5,252 26,998 Other Income Solar generated electrlt receipts Oonations and sundry Incorne Total Other Income 4,025 65 4,025 65 2,471 2,471 Total Income anl End•wrnent• Pa9e 15
Jrocagh and District Regeneration Group (Charitable Company Llrnited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS {Contlnued) For the year ended 3 1 October 2024 4 RESOURCES EXPENDEO Unrestrlct•d Restrlcted Fundl Fund¥ 2024 2024 Totthl Funds 2024 Unr•$trlcted Fund$ 2023 Restrict•d Funds 2023 Total Funds 2023 Charitable Attlvltlei Wages 1,560 2,756 596 5,598 7,362 J,560 2,756 596 5,598 12.265 400 2,706 400 2,706 Water charges Llght ond hèat Repairs and maintenance Adveriising Telephone and broadband Accountancy Bank Interest ano charges Depreciatlon Loan InteTest Legal and professional Sundry expenses Broca9h Afier School Club Total Resources Expended 5,533 12,007 5,S33 13,243 4.903 1,236 917 2,644 924 3,453 117 2,95 675 917 2,644 924 23,412 J17 2,958 675 809 2,296 248 3,23B 657 1,677 251 809 2,296 248 23,583 657 1,677 251 19.959 20,345 Page 16
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 October 2024 NET INCOME/(EXPENDITURE) FOR THE YEAR Net income/(expenditure) is stated after charging/(crediting)- 2024 2023 Depreclation of propertyi plant and equipment Independent Examiner's remuneration 23,412 23,583 INDEPENDENT EXAMINER'S REMUNERATION The Independent Examiner's remuneration amounts to a fee of £1,500 (2023.. £1,420). STAFF COSTS AND EMPLOYEE BENEFITS The average number of persons employed by the charitable company durlng the year was I (2023,, 1). The total staff costs and ernployee beneflt's was as follows.. 2024 2023 Wages and salaries ( includ ing soclal secu rity) 400 No employee of the charitable company received total employee benefits of more than £60,000. 7.1 DIRECTORS. REMUNERATION The Dlrectors neither receiveL1 nor waived any remuneratlon or any other benefits durlng the year and no reimbursements of expense5 incurred. Page 17
Brocagh and Distrlct Regeneration Group (Charitable Company Llfllited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 October 2024 PROPERTY, PLANT AND EQUIPMENT Land and Plant and Fixtures, Buildings Machinery Fittings and freehold Equipment Total Cost At 31 October 2023 1,022,651 6,305 61,310 1,090,266 Additions At 31 October 2024 1,022,651 6,305 61,310 1,090.266 Depreciation At 31 October 2023 Charge for year At 31 October 2024 429,210 6,305 56,800 492,315 449 663 515 727 Net Book Values At 31 October 2024 572 988 574 539 At 31 October 2023 593 441 597 951 Rf CEIVABLES 2024 2023 Sundry debtors Taxation and social securlty 1,556 992 207 207 10 PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Bank loans and overdrafts Accruals other creditors 8,146 6,046 2,270 4,490 Page 18
Brocagh and District Regeneration Group (Charitable Company Limited bv Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 October 2024 11 PAYABLES: AMOUNTS FALLING DUE AER ONE YEAR 2024 2023 Bank loan Thi5 loan is secured by mortgage charges and debentures over the charltable company's land and building5. Bank loan maturlty analysis 2024 2023 Repayable wlthin one year Repayable between one and two years Repayable between two and flve years Repayable in rnore than five years 1,572 1,572 527 1,572 1,572 1,982 12 ANALYSIS OF NET ASSETS Unrestrlcted Funds 2024 Restrlcted Funds 2024 Total Funds 2024 Total Funds 2023 Property, plant and equipment Current asset5 Current liabilities Non-current Ilabllltles 112,212 2,548 (16,192) 462,327 574,539 2,548 (16,192) 597,951 207 (8,760) 462 327 558 796 585 844 Page 19
Brocagh and District Regeneration Group (Charitable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 31 October 2024 13 ANALYSIS OF FUNDS Opening Balance Income Expenditure Transfer Between Funds Closing Balance Rural Developmènt Council DAERA Health & Social Care Board Mid-ulster Councll DFC Small Grant Lough Neagh Pa rtnership Keep Northern Ireland Beautlful Co-operatlon Ireland Mid-ulster District Council Repair grant Restricted Funds 458,072 (17,135) 440,937 1,074 (29) (3,856) 1,045 3,856 District 5,250 (475) 4,775 1,250 10,340 (1,250) (220) 10,120 1,500 (750) 750 4,800 (ioo) (4,903) 4,700 4,903 482,286 8,759 (28,718) 462,327 Unrestrlcted Funds 103,558 22,471 (29,560) 96,469 Total Funds 585 844 558 796 14 CONTINGENT LIABILITIES A contingent liability exists to repay g rants received should certa In cond itions not be fulfilled by the company. Page 20