## **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. 

1 



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. 

4 



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. 

6 



**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. 

7 



**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. 

8 



**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. 

10 



**DUNLOY DEVELOPMENT PARTNERSHIP** 

## **PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31st DECEMBER 2022** 

|**PROFIT AND LOSS ACCOUNT FOR THE**<br>**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)|
||**=======**|**=======**|