DUNLOY DEVELOPMENT PARTNERSHIP
ANNUAL REPORT AND UNAUDITED STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2022
Registration NI 605953
DUNLOY DEVELOPMENT PARTNERSHIP
COMBINED TRUSTEES’ AND DIRECTORS’ REPORT FOR THE YEAR ENDED 31st DECEMBER 2022
The Trustees/Directors present their report and the unaudited financial statements for the year ended 31st December 2022.
Objectives and activities
The principal activities of the Company continued to be that of relief of poverty, enhance education and to promote facilities in the interest of social welfare for recreation or other leisure time. The objective is to improve conditions of life for all inhabitants of Dunloy (Co Antrim) and its surrounding areas. The charity aims to provide community hall facilities for all members of the community to develop and maintain the strong, vibrant community spirit in the village and surrounding area.
Administrative details, Structure, Governance & Management
Dunloy Development Partnership is a company limited by guarantee. The governing document is the Memorandum and Articles of Association. The company registration number is NI 605953.
The company has recognised charitable status provided by HMRC under tax reference XT 35533. Mr John McLaughlin is noted as the charity’s authorised official.
The company is a registered charity with The Charity Commission for Northern Ireland under charity number 104946. Dunloy Development Partnership is a public benefit entity .
The registered office of the company is 17 Bridge Road, Dunloy, Ballymena, BT44 9AN. The public address for the charity under The Charity Commission for Northern Ireland is 61 Station Road, Dunloy, Ballymena, BT44 9AU.
Directors & Trustees
The Directors who held office during the period were as follows:
John McLaughlin Jonathan McCamphill John Dowds,.
The Trustees of the charity during the period were as follows:
John McLaughlin Jonathan McCamphill John Dowds
Trustee appointments are subject to Board approval.
Statement of Directors'/Trustees’ responsibilities
The Directors/Trustees are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice.
Company law requires the Directors/Trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.
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DUNLOY DEVELOPMENT PARTNERSHIP In preparing those financial statements, the Dire¢tors/Trust¢es are rquired to: s¢lect suitable accounting policies and then apply them consistently. obscrve the methods and principles in the Charities SORP. make judgments and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Directors are responsible for keeping proper accounting records which disclose with reasonable a¢curacy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with The Companies Act 2006 and The Charities Act 201 l and in accordance with the Charities Statement of Recommended Prdctice (Charities SORP)(FRS102). They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Small companies provision statement This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Achievements. Performance and Financial Review The 2022 financiaI year reports a return to pre Covid rental levels. Against this, costs escalated as a result of energy costs and repairs. The company secured grants during the year which continued to support the ongoing running costs. The loss for the year after depreciation and taxation amounted to £26,410. The profit for the year before depreciation charge and deferred grant release w&s £3,063. The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependent upon the continued support of the Diocese of Down and Connor who have undertaken not to call in the loan but will work with Dunloy Development Partnership on timing of payments subject to cashflow. Small company provisions This report has been prepared in accordance with the Small Companies regime under the Companies Act 2006. Approve the Board d Trus ees on 29 September 2023 and signed on its behalf by." ohn McLaughl rector and Trustee
DUNLOY DEVELOPMENT PARTNERSHIP INDEPENDENT EXAMINER'S REPORT TO THE CHARITY TRUSTEES OF DUNLOY DEVELOPMENT PARTNERSHIP We report on the accounts of Duiiloy Development Partnership for the period ended 31 December 2022, which are set out on pages 4 to I I Respective responsibilities of charity trustees Ydnd examiner As the charity's trustees (and also director of the company for tlie purposes of company law) you are responsible for the preparation of the accouiits in accordance with the requirements of tlie Companies Act 2006. It is our responsibility to: exainiiie the accouiits under sectioii 65 of the Charities Act follow the procedures laid down in tlie general Directions given by tlie Coinmission under section 65(9)(b} of tlie Charities Act state whether particular matters have come to my attention. Basis of independent examiner's report We have examined your charity accouiits as rcquired under section 65 of the Charities Act and my examination was carried out in accordance with ilie geiieral Directioiis giveii by the Charity Cominission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented witli those records. It also included consideration of aiiy unusual items or disclosures in the accounts, and seeking explaiiations froin you as cliarity trustees concerning any such matters. Our role is to state whether any material matters have come to my attention giving me cause to believe: l. That accountingi records were not kept in accordance with section 386 of the Companies Act 2006. 2. That the accounts do not accord witli those accouiiting records. 3. Tl)at the accounts do iiot comply with the accounting requireinents of section 396 of the Companies Act 2006 aiid with the inetl)ods aiid priiiciples of tlie Charities Stateinetit of ReLommeiided Praclice applicable to charities prepariiig their accounts iii accordanLe with tlie Financial Reporting Standard applicable in the UK and Ireland. 4. That there is further information needed for a proper understanding of the accounts to be reached. Independent examiner's statement We have completcd our examination and have no concerns in respect of matters (l) to (4) listed above and. in connection with t'ollowing Directions of the Charity Commission for Northem Ireland, I have found no matters that require drawing to your attention. Stevenson and Wilson Chartered Accountants 2?_30 Broadway Avenue Ballymena BT43 7AA Date lalql L)
DUNLOY DEVELOPMENT PARTNERSHIP
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE PROFIT AND LOSS ACCOUNT) FOR THE YEAR ENDED 31st DECEMBER 2022
| Year | Year | ||
|---|---|---|---|
| ending | ending | ||
| 31 Dec 22 | 31 Dec 21 | ||
| Note | £ | £ | |
| Turnover | - | - | |
| Administrative expenses | (13,157) | (5,540) | |
| Other operating income | 16,220 | 7,620 | |
| ------------ | ------------ | ||
| Operating profit/(loss) before depreciation and grant release | 3,063 | 2,080 | |
| Depreciation and government grant release | (29,473) | (29,473) | |
| Taxation | 6 | - | - |
| ------------ | ------------ | ||
| Loss for the financial period | 3 | (26,410) | (27,393) |
| ======= | ======= | ||
| Fund balances brought forward (unrestricted) | (260,428) | (233,035) | |
| Loss for the financial period | (26,410) | (27,393) | |
| Other gains/losses | - | - | |
| ------------ | ------------ | ||
| Fund balances carried forward (unrestricted) | (286,838) | (260,428) | |
| ======= | ======= |
The above results are derived from continuing operations.
The company has no recognised gains/loss for the period other than the results above.
Other income includes £4,705 grant which was restricted towards funding of operating costs (namely energy costs). The grant was expended in the year towards running costs.
All other funds and funds carried forward are unrestricted.
The notes on pages 7 to 10 form part of these financial statements.
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DUNLOY DEVELOPMENT PARTNERSHIP BALANCE SHEET AS AT 31st DECEMBER 2022 (Company Registration: N1605953) 31 Dee 2022 31 Dcc 2021 Notes Fixed assets Tangible fixed &ssets 446,687 489,369 Current assets Debtors Cash at bank and in hand 1,016 12,434 1,005 9,282 13,450 10,287 Creditors: due Ivithin one year (17,812) (17,812) Net eurrent assets / (liabilities) (4J62) (7,525) Total assets less current liabilities 442J25 481,844 Creditors: due after more than one year (729,163) (742,272) Net liabilities (286,838) (260,428) Capital and reserves Profit and loss account (286,838) (260,428) Members, funds (all un restricted) (286,838) (260,428) For the financTral period ending 31 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act relating to small companies. Directors, responsibilities= The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and • The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to acc()unting records and the preparation of accoiints. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime and in accordanc¢ with the Financial Reporting Standard 102 SORP (effective 2015). Approve by the Board on 29 September 2023: John McLaughlin Director & Trustee The notes on pages 7 10 10 fomi part of these financial statements.
DUNLOY DEVELOPMENT PARTNERSHIP
STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 31st DECEMBER 2022
| Profit and | Total | |
|---|---|---|
| loss account | ||
| £ | £ | |
| At 1st January 2021 | (233,035) | (233,035) |
| Loss for the year | (27,393) | (27,393) |
| ------------ | ------------ | |
| At 31st December 2021 | (260,428) | (260,428) |
| Loss for the year | (26,410) | (26,410) |
| ------------ | ------------ | |
| At 31st December 2022 | (286,838) | (286,838) |
| ======= | ======= |
The notes on pages 7 to 10 form part of these financial statements.
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DUNLOY DEVELOPMENT PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2022
1. Company information
The Company is limited by guarantee and in incorporated in Northern Ireland. The address of its registered office is: 17 Bridge Road Dunloy Ballymena Co Antrim BT44 9AN
The financial statements were authorised for issue by the Board on 29[th] September 2023.
2. Principal accounting policies
Public benefit entity
Dunloy Development Partnership meets the definition of a public benefit entity under the Charities SORP FRS102.
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland, FRS102 (Charities SORP FRS102), the Charities Act 2011 and the Companies Act 2006.
Basis of preparation and accounting period
These financial statements have been prepared using the historical cost convention and the accruals basis.
Going concern
The financial statements have been prepared on a going concern basis. The company’s ongoing activities are dependent upon the continued support pf the Diocese of Down and Connor who have undertaken not to call in the loan but will work with Dunloy Development Partnership on timing of payments subject to cashflow.
If the going concern basis were not appropriate adjustments would have to be made to reduce the value of assets to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets to current assets and long term liabilities to current liabilities.
Rental income
Rental income represents total rental income accrued for the accounting period.
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DUNLOY DEVELOPMENT PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (continued)
Government grants
Government grants received are credited to deferred income. Grant towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. The following depreciation rates are applied.
| Leasehold improvements | 2.5% straight line | ||
|---|---|---|---|
| 3. Loss on ordinary activities | Year | Year | |
| ending | ending | ||
| 31 Dec 22 | 31 Dec 21 | ||
| Arrived at after charging / (crediting) | £ | £ | |
| Accountant’s / Independent examiner’s remuneration | - | - | |
| Depreciation | 42,682 | 42,682 | |
| Release of government grant | (13,209) | (13,209) | |
| ===== | ===== |
4. Directors’ and trustees’ remuneration and expenses
No remuneration or expenses were paid to the Directors or Trustees during the year.
5. Staff numbers
The average monthly number of persons employed during the year was 3 (three unpaid directors). (2021: 3).
6. Taxation
The Inland Revenue having accepted that the Dunloy Development Partnership is a charity for tax purposes, all income and gains are exempt from tax, provided they are only applied for charitable purpose. Charitable status was granted on 22nd August 2012 and was effected from 28th January 2011 under HMRC reference XT35533.
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DUNLOY DEVELOPMENT PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (continued)
| 7. Tangible fixed assets | Leasehold | |
|---|---|---|
| improvements | ||
| £ | ||
| Cost | ||
| At 1st January 2022 | 853,637 | |
| ------------ | ||
| At 31st December 2022 | 853,637 | |
| ------------ | ||
| Depreciation | ||
| At 1stJanuary 2022 | 364,268 | |
| Charge for period | 42,682 | |
| ------------ | ||
| At 31stDecember 2022 | 406,950 | |
| ------------ | ||
| Net book value | ||
| At 31st December 2022 | 446,687 | |
| ======= | ||
| Net book value | ||
| At 31st December 2021 | 489,369 | |
| ======= | ||
| 8. Debtors | 2022 | 2021 |
| £ | £ | |
| Prepayments and accrued income | 1,016 | 1,005 |
| Other debtors | - | - |
| ------------ | ------------ | |
| 1,016 | 1,005 | |
| ======= | ======= | |
| 9. Creditors | 2022 | 2021 |
| £ | £ | |
| Due within one year | ||
| Trade creditors and accruals | 4,603 | 4,603 |
| Deferred capital grant | 13,209 | 13,209 |
| ------------ | ------------ | |
| 17,812 | 17,812 | |
| ======= | ======= | |
| Due after one year | ||
| Deferred capital grant | 120,602 | 133,811 |
| Other creditors | 608,561 | 608,461 |
| ------------ | ------------ | |
| 729,163 | 742,272 | |
| ======= | ======= |
Other creditors include the balance owed to the Diocese of Down and Connor of £608,561 (2021: £608,461). The amount owed increased during the year by £100 due to rent owed.
9
DUNLOY DEVELOPMENT PARTNERSHIP
NOTES TO THE FINANCIAL STATEMENTS (continued)
10. Company limited by guarantee
The Company is limited by guarantee and therefore has no shares.
11. Related party transactions
The Diocese of Down and Connor is regarded as a related party. The balance owed to the Diocese and movement in that balance is disclosed at note 9.
12. Commitments
Lease commitments
Dunloy Development Partnership entered into a 25 year lease commencing on 1st June 2012 and ending on 30th May 2037 for a nominal rent of £100 per annum. The landlord is the Diocese of Down and Connor Trust, registered address Lisbreen, 73 Somerton Road, Belfast. Dunloy Development Partnership are responsible for the insurance of the building, its contents, public liability indemnity and employers liability.
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DUNLOY DEVELOPMENT PARTNERSHIP
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31st DECEMBER 2022
| PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31st DECEMBER 2022 |
||
|---|---|---|
| Year | Year | |
| ending | ending | |
| 31 Dec 22 | 31 Dec 21 | |
| £ | £ | |
| Turnover | - | - |
| ------------ | ------------ | |
| Administrative expenses | ||
| Light, heat and power | 7,817 | 822 |
| Cleaning of premises | 2,785 | 2,859 |
| Repairs and renewals | 1,105 | 496 |
| Insurance | 1,098 | 1,057 |
| Rent and water rates | 234 | 203 |
| Accountancy fees | - | - |
| Bank charges | 118 | 103 |
| General expenses (incl entertainment licence) | - | - |
| ------------ | ------------ | |
| 13,157 | 5,540 | |
| Other operating income | ||
| Rent receivable | 11,515 | 100 |
| Other including light and heat recharges | - | - |
| Government grant | 4,705 | 7,520 |
| ------------ | ------------ | |
| 16,220 | 7,620 | |
| ------------ | ------------ | |
| Operating profit/(loss) before depreciation and deferred grant release | 3,063 | 2,080 |
| Depreciation | (42,682) | (42,682) |
| Deferred capital grant release | 13,209 | 13,209 |
| ------------ | ------------ | |
| Loss on ordinary activities before tax | (26,410) | (27,393) |
| ======= | ======= |