DUNLOY DEVELOPMENT PARTNERSHIP ANNUAL REPORT AND UNAUDITED STATEMENTS FOR THE YEAR ENDED 31st DECEMBER 2023 Registration Nl 605953
DUNLOY DEVELOPMENT PARTNERSHIP COMBllSED TRUSTEES. AND DIRECTORS, REPORT FOR THE YEAR ENDED 31st DECEMBER 2023 The Trustees/Directors prcsent their report and the unauditd financial statements for the year ended 3 Ist December 2023. Objectives and activities The principal activities of the Company continued to be that of relief of povcrty, 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, vibrdnt community spirit in the villagc 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 Nl 605953. The company has recognised charitable status provided by HMRC under t&x reference XT 35533. Mr John McLaughlin is noted as the charity's authorised oificial. 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, Ballymen4 BT44 9AN. The public address for the charity under The Charity Commission for Northern Ireland is 61 Station Road, Dunloy, Ballymeni BT44 9AU. Directors & Trustees Th¢ 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'ifrustees, responsibilities The DirectorslTrustees 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.
DUNLOY DEVELOPMENT PARTNERSHIP In preparing those financial statements, the Directorsrrrustees are required to: select suitable accounting policies and then apply them consistently. observe the methods and principles in the Charities SORP. mak¢ judgments and estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any material departUS disclosed and explained in the financial statements; prepare thc financial statemcnts on the going Concern basis unless it is inappropriate to presume that the charity will continue in business. The Directors are responsiblc for keeping proper accounting records which disclose with reasonable accuracy 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 2011 and in accordance with the Charities Statement of Recommended Practice (Charities SORP)(FRS102). They arc also responstble for safeguarding the assets of the Company and hence for taking rcasonable 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 financial 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 depciatIon and taxation amounted to £26,410. The profit for the year before depreciation charge and deferred grant release was £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 hav¢ 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 y the Boar th and Trustees on 18 June 2024 and signed on its behalf by: n McLaugh . irector and rustee
INDEPENDENT EXAMtNER'S REPORT TO THE CHARITY TRUSTEES OFDUNL0YDEVELOPME PARTNERSHIP We rewrt on the accounts of Dunloy Development Partnership for the period ended 31 Decernber 2023. which are set out on pages 4 to I I RpeCtive reoponsibilitie8 of charity trustee8 and examlner A5 the clwity's trnstees (and also director of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of th¢ Companies Act 2006. It 15 our responsibility to: • examsne the accounts under s¢ction 65 of the Charities Act • follow the procedures laid down in the general Dir¢¢tions given by the Commission under Secti( 65(9)(b) of the Charities Act . state whether particular matters have come to my attention. Basi4 of independent examSner's report We have examined your chaiity accounts as required under section 65 of the Charities Act and my examination was carried out in aOrda¢¢ with the general Directions given by thc Charity Commission for Northern Ireland und¢r section 65(9Xb) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison ofthe a¢counts presented with those records. It also included consideration of any unusual it¢ms or disclosures in th¢ accoun and seeking explanations from you as charity trustees concerning any such matters. Our role is to state whether any Materi Matte hav¢ Come to my attention giving rne U$¢ to believe: l. That accounting r¢TS were not kept in ac¢ordan¢e with section 386 of the Companies Act 2006. 2. That the accouuts do not accord with those accounting records. 3. That the acwunts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of R¢comrnended Pra¢ti¢¢ applible to charities prepaTing their accounts in accordance with the Financial Reporting Standard applicable in th¢ UK and Ireland. 4. That there is further inforniation needed for a proper underslanding of the aoUnts to be reached. IndependeDt eL9mIne8 statement We have completed our examination and have no concerns in respect of matters (l) to (4) listed above and, in connection with following Directions of the Charity Commission for Northern Ireland. I have found no matters that require dTawing to your attention. Stevenson and Wilson Chartffl Accountants Date 22-30 Broadway Avenue Ballymena BT43 7AA
DUNLOY DEVELOPIVIENT PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING THE PROFrr AND LOSS ACCOUNT) FOR THE YEAR ENDED 31st DECEMBER 2023 Year Year ending ending 31Dec23 31 Dec22 Note Turnover Administrative expcnses (17,744) (13,157) Other operating income 16,436 16,220 Operating profit/{loss) before depreciation and grant release (I J08) 3,063 Depreciation and government grant release (29,473) (29,473) Taxation Loss for the financial period (30,981) (26,410) Fund balances brought fonvard (unrestricted) (286,838) (260,428) Loss for the financial period (30,981) (26,410) Other gainsllosses Fund balances carried forward (unrestricted) (317,819) (286,838) The above results are derived from continuing opcrations. The company has no recognised gains/loss for the period other than the results above. Other income includes £3,500 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 foml part of these financial statem¢nts.
DUNLOY DEVELOPMENT PARTNERSHIP BALANCE SHEET AS AT 31st DECEMBER 2023 (Company R¢gistration.' N1605953) 31 Dec 2023 31 D¢¢ 2023 Notes Fixed assets Tangible fixed assets 405,425 446,687 Current assets Debtors Cash at bank and in hand 1,103 7,967 1,016 12,434 9,070 13,450 Creditors: due within one year (16260) (17,812) Net current assets l (liabilities) (7,190) (4,362) Total assets less current liabilities 398235 442,325 Creditors: due after more than one year (716,054) (729,163) Net liabilities (317,819) (286,838) Capital and reserves Profit and loss account (317,819) (286,838) Members, funds (all un restricted) (317,819) (286,838) For the financial pcriod ending 31 December 2023 the company was entitled to eK¢mption 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 accounting records and the preparation of accounts. These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime and in accordance with the Financial Reporting Standard 102 SORP (effective 2015). Approved by the Board on 18, June 2024: n McLau irector & Trustee The notes on pages 7 to 10 forn) part of these fmancial statements.
DUNLOY DEVELOPMENT PARTNERSHIP STATEMENT OF CHANGES IN EQUITY FOR TIIE YEAR ENDED 31st DECEMBER 2023 Profit and loss account Total At I st January 2022 (260,428) (260,428) Loss for the year (27,393) (27,393) At 31 st December 2022 (286,838) (286,838) Loss for the year (30,981) (30,981) At 31st December 2023 (317,819) (317,819) The notes on pages 7 to 10 forni part of these fmancial statements.
DUNLOY DEVELOPMENT PARTNERSHIP NOTES TO THE FINANCIAL STATEIVIENTS FOR THE YEAR ENDED 31st DECEMBER 2023 l. 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 issuc by the Board on 18, June 2024. 2. Principal accounting policies Public benefit entity Dunloy Developmcnt Partnership meets the defInition of a public benefit cntity under the Charities SORP FRSIO2. 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. Thesc 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 Recommendcd Practice applicable to charitics preparing their accounts in accordanc¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland, FRS102 (Charities SORP FRS102), the Charities Act 201 l 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 asscts to current assets and long tem] liabilities to current liabilities. Rental income Rental income represents total rental income accrued for the accounting period.
DUNLOY DEVELOPMENT PARTNERSHIP NOTES TO THE FINANCIAL STATE11Ts (continued) Government grants Government grants received are crcdited 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 impairnient losses. The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation. The following d¢preciation rates are applied. Leasehold improvemcnts 2.5 % straight line 3. Loss on ordinary activities Year ending 31 Dec 23 Year ending 31 Dec 22 Arrived at after charging J (crediting) Accountant's / Independent examiner's remuneration Depreciation Release of government grant 42,882 (13,209} 42,682 (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 cmployed during the year was 3 (three unpaid directors). (2022: 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.
DIJNLOY DEVELOPMENT PARTIYERSHIP NOTES TO THE FINANCIAL STATEMENTS (conlinued) 7. Tangible fixed assets Leasehold Plant& Improvements Equipment Total Cost At I st January 2023 Additions 853,637 853,637 1,620 1,620 At 3 1st December 2023 853,637 1,620 855,257 Depreciation At 1° January 2023 Charge for period 406,950 42,682 406,950 42,882 200 At 31" December 2023 449,632 200 449,832 Net book value At 31st December 2023 404,005 1,420 405,425 Net book value At 31st December 2022 446,687 446,687 8. Debtors 2023 2022 Prepayments and accrued income Other debtors 1,103 1,016 1,103 1,016 9. Creditors 2023 2022 Due within one year Trade creditors and accruals Defcrred capital grant 3,051 13,209 4,603 13,209 16,260 17,812 Due after one year Deferred capital grant Other creditors 107,393 608,661 120,602 608,561 716,054 729,163 Other creditors include the balance owed to the Diocese of Down and Connor of £608,661 (2022: £608,561). The amount owed increased during the year by £1 00 due to rent owed.
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. I l. Related party transactions The Diocese of Down and Connor is regarded as a related party. The balance owed to the Diocese and mov¢ment in that balance is disclosed at note 9. 12. Commitments Lease commitments Dunloy Developmcnt Partnership entered into a 25 year lease commencing on Ist June 2012 and ending on 30th May 2037 for a nominal rent of £1 00 per annum. The landlord is the Diocese of Down and Connor Trust, registered address Lisbr¢¢n, 73 Somerton Road, Belfast. Dunloy Development Partnership are responsible for the insurance of the building, its contents, public liability indemnity and cmployers liability. io
DUNLOY DEVELOPMENT PARTNERSHIP PROFIT AND LOSS ACCOUNT FOR THE YEAR EfiDED 31st DEcEIBER 2023 Year ending 31 Dec 23 Year ending 31 Dec22 Turnover Administrative expenses Light, heat and power Cleaning of premises Repairs and renewals Insurancc Rent and water rates Accountancy fees Bank charges G¢n¢ral expenses (incl entcrtainment licence) 9,186 4J03 1,766 1,115 1253 7,817 2,785 1,105 1,098 234 121 118 17,744 13,157 Other operating income Rent receivable Other including light and heat recharges Government grant 12,736 200 3,500 11,515 4,705 16,436 16,220 Operating profit/(loss) before depreciation and deferred grant release (1,308) 3,063 D¢pr¢ciation (42,882) (42,682) Deferred capital grant release 13,209 13,209 Loss on ordinary activities before tax (30,981) (26,410)