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← Roe Valley Residents Association Ltd

2025-03-31-accounts

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

Company registration number NI640837 (Northern Ireland) Charity registration number NIC105023 (Northern Ireland)

ROE VALLEY RESIDENTS ASSOCIATION

ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Marie Campbell
Chloe Devine
Doreen Rodgers
Una Simpson
Lorna Wilson
Jennifer Campbell
Wendy Ferris
Patricia Keys
Geraldine McLaughlin
Sadie Mulgrew
Samantha McAteer (Appointed 30 May 2024)
Anthony Devine (Appointed 30 May 2024)
Veronica Devine (Appointed 30 May 2024)
Martha Ann Bernadette Duffy (Appointed 30 May 2024)
Charity number NIC105023
Company number NI640837
Registered office 13-14 Keady Way
Limavady
BT49 0AU
Auditor PFS & Partners Limited
16 Main Street
Limavady
BT49 0EU
Bankers Bank of Ireland
2 The Diamond
Coleraine
BT52 1DE

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

CONTENTS

Page
Trustees' report 1 - 13
Independent auditor's report 14 - 16
Statement of financial activities 17
Balance sheet 18
Statement of cash flows 19
Notes to the financial statements 20 - 29

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their annual report and financial statements for the year ended 31 March 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, the Companies Act 2006 and "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 (FRS 102)" (effective 1 January 2019).

Governing document

Roe Valley Residents Association is a Private Company Limited by Guarantee, incorporated on 15th September 2016 who maintain and manage the organisation. The governing document of the Charity is a Memorandum & Articles of Association, which sets out the objects and powers of the charitable company.

Recruitment and appointment of Directors/Trustees

The directors of the company are also trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the number of Directors shall not be subject to any maximum but shall not be less than 3. At Annual General Meetings, one third of Directors shall retire by rotation.

Risk management

The Management Committee take risk assessment seriously and have in place a series of policies and procedures about how the organisation should be managed. Internal control risks are minimised by the implementation of robust policies and procedures for all activities.

Organisational structure

Roe Valley Residents Association has a management board of 12 members. All 12 board members have voting rights. The board meet bi-monthly and are responsible for the strategic direction of the charity. There is also a Project Co-ordinator who advises, however, has no voting rights.

Day to Day responsibility for the provision of services rests with the Project Co-ordinator. The Finance, Administration and Project Officers/Youth Officers team support this work. At present, there are 30 staff including full time, part time and sessional staff. However, this can change from time to time depending on projects. The Project Co-ordinator has responsibility for ensuring that the charity delivers the services specified and that key targets are met particularly in relation to the funding secured for services being delivered.

Recruitment and training of staff

Roe Valley Residents Association adheres to strict recruitment and selection policy. Where external recruitment is required, job advertisements are placed on Job Centre Online and Community NI. Training needs of staff are identified through a Training Needs Analysis and performance appraisals.

The trustees have paid due regard to guidance issued by the The Charity Commission for Northern Ireland in deciding what activities the charity should undertake.

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Objectives and activities

This document has been prepared based on the guidance provided by the Charity Commission and Trustees have had regard to the Commission's Public Benefit requirement statutory guidance.

The Company's objectives are to relieve poverty, sickness and help the aged and to promote the benefit of the inhabitants of the Limavady estates and district area of Co Londonderry and its environs, without distinction of age, sex, race, political, religious or other opinion, by associating the statutory authorities, voluntary organisations and inhabitants in a common effort to advance education, and to provide facilities in the interests of social welfare for recreation or other leisure time occupation, with the object of improving the conditions of life for the said inhabitants, in particular:

a) To maintain and manage a centre, or to cooperate with any local statutory authority in the maintenance and management of such a centre for activities promoted by the company and its constituent bodies in furtherance of the above objects.

b) To provide or secure the provision of social services, educational and recreational facilities and practical assistance for elderly and disabled people within the area of benefit.

c) To provide or secure the provision of an accessible welfare rights advice and information resource and refer those in need of professional assistance to the relevant agencies.

d) To provide a counselling service for the purpose of relieving stress in the following groups - women, single parents, preschool children, youth, unemployed, those suffering from the effects of poverty or debt, and further, to respond to any identifiable social or other need which may arise within the community.

e) To provide and equip premises and centres required for the purposes of the Company.

f) To organise, sponsor and conduct (whether alone or with others) educational and training courses and meeting, conferences and exhibitions.

g) To publish and distribute materials relating to the work of the Company.

Activities delivered at the community centre on a regular basis are:

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Achievements and performance

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Financial review

Roe Valley Residents Association is a not for profit organisation and therefore does not aim to hold substantial reserves. The minimum reserves held, are to ensure overheads are covered for a period of 6 months. Income generated from local fundraising initiatives are used to contribute towards the running of the community facility as well as some additional services, such as, seasonal activities for all beneficiaries.

Trustees and directors

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Simone Bonham (Resigned 12 February 2025) Marie Campbell Chloe Devine Doreen Rodgers Una Simpson Lorna Wilson Jennifer Campbell Wendy Ferris Patricia Keys Geraldine McLaughlin Sadie Mulgrew Dolores O'Brien (Resigned 12 February 2025) Samantha McAteer (Appointed 30 May 2024) Anthony Devine (Appointed 30 May 2024) Veronica Devine (Appointed 30 May 2024) Martha Ann Bernadette Duffy (Appointed 30 May 2024)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Statement of trustees' responsibilities

The trustees, who are also the directors of Roe Valley Residents Association for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity 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 trustees are required to:

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Auditor

In accordance with the company's articles, a resolution proposing that PFS & Partners Limited be reappointed as auditor of the company will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees.

AE9692336E03470... Una Simpson Trustee

B946552E6BB54C2... Jennifer Campbell Trustee

18 December 2025

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF ROE VALLEY RESIDENTS ASSOCIATION

Opinion

We have audited the financial statements of Roe Valley Residents Association (the ‘charity’) for the year ended 31 March 2025 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act (Northern Ireland) 2008 require us to report to you if, in our opinion:

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ROE VALLEY RESIDENTS ASSOCIATION

Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 65 of the Charities Act (Northern Ireland) 2008 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF ROE VALLEY RESIDENTS ASSOCIATION

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 8 of the Charities Act (Northern Ireland) 2008. Our audit work has been undertaken so that we might state to the charity's trustees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

James Daniel Brolly (Senior Statutory Auditor)

For and on behalf of PFS & Partners Limited, Statutory Auditor Chartered Certified Accountants 16 Main Street Limavady BT49 0EU 18 December 2025

PFS & Partners Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
3
33,093
1,050,725
Charitable activities
4
102,523
-
Investments
5
811
-
Total income
136,427
1,050,725
Expenditure on:
Charitable activities
6
85,581
909,180
Total expenditure
85,581
909,180
Net income
50,846
141,545
Transfers between
funds
65,361
(65,361)
Net movement in
funds
8
116,207
76,184
Reconciliation of funds:
Fund balances at 1 April 2024
108,257
14,591
Fund balances at 31 March
2025
224,464
90,775		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
1,083,818
38,071
548,561
102,523
23,742
-
811
706
-
1,187,152
62,519
548,561
994,761
68,707
541,761
994,761
68,707
541,761
192,391
(6,188)
6,800
-
19,950
(19,950)
192,391
13,762
(13,150)
122,848
94,495
27,741
315,239
108,257
14,591		 Total
2024
£
586,632
23,742
706
611,080
610,468
610,468
612
-
612
122,236
122,848

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 12 11,504 13,077
Current assets
Debtors 13 146,362 13,921
Cash at bank and in hand 315,591 131,230
461,953 145,151
Creditors: amounts falling due within 15
one year (158,218) (35,380)
Net current assets 303,735 109,771
Total assets less current liabilities 315,239 122,848
The funds of the charity
Restricted income funds 17 90,775 14,591
Unrestricted funds 18 224,464 108,257
315,239 122,848

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025, although an audit has been carried out under section 65 of the Charities Act (Northern Ireland) 2008.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 18 December 2025

Una Simpson
AE9692336E03470...		 Jennifer Campbell
B946552E6BB54C2...
Trustee Trustee

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
21
Investing activities
Investment income received
Net cash generated from investing activities
Net cash generated from financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
Relating to:
Cash at bank and in hand
Bank overdrafts included in creditors payable
within one year		 2025
£
811		 £
184,687
811
-
185,498
129,719
315,217
315,591
(374)		 2024
£
706		 £
67,091
706
-
67,797
61,923
129,720
131,230
(1,510)

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

Charity information

Roe Valley Residents Association is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 13-14 Keady Way, Limavady, BT49 0AU.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's Memorandum & Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 (FRS 102)" (effective 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings 10% reducing balance Computers 25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.9 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
33,093
-
Grants
-
1,050,725
33,093
1,050,725		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
33,093
38,071
-
1,050,725
-
548,561
1,083,818
38,071
548,561		 Total
2024
£
38,071
548,561
586,632

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

3
Income from donations and legacies
Unrestricted
Restricted
funds
funds
2025
2025
£
£
Grants
International Fund for
Ireland
-
114,919
Peace Plus
-
354,128
Department for
Communities
-
40,813
Education Authority
-
160,962
BBC Children in Need
-
31,272
The Executive Office
-
37,680
Causeway Coast and
Glens BC
-
210,349
Big Lottery Fund
-
20,000
Youth Justice Agency
-
9,721
Community Foundation
for NI
-
50,000
Other
-
20,881
-
1,050,725
4
Income from charitable activities
Community Projects
Other income
5
Income from investments
Interest receivable		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
(Continued)
114,919
-
107,585
107,585
354,128
-
-
-
40,813
-
38,420
38,420
160,962
-
210,513
210,513
31,272
-
30,658
30,658
37,680
-
-
-
210,349
-
20,750
20,750
20,000
-
-
-
9,721
-
-
-
50,000
-
116,313
116,313
20,881
-
24,322
24,322
1,050,725
-
548,561
548,561
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
102,523
23,742
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
811
706

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

6 Charitable activities

Community projects
Share of governance costs (see note 7)
Analysis by fund
Unrestricted funds
Restricted funds - general
7
Support costs allocated to activities
Governance costs
Analysed between:
Community Projects
Governance costs comprise:
Audit fees
Accountancy
8
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets		 2025
£
989,001
5,760
994,761
85,581
909,180
994,761
2025
£
5,760
5,760
2025
£
3,384
2,376
5,760
2025
£
3,384
1,574		 2024
£
604,708
5,760
610,468
68,707
541,761
610,468
2024
£
5,760
5,760
2024
£
3,384
2,376
5,760
2024
£
3,384
1,764

9 Trustees

Gross trustee remuneration totalled £nil during the year, and 2 trustees were reimbursed a total of £172 for expenses incurred (2024- gross remuneration: £nil and 1 trustee was reimbursed a total of £150 for expenses incurred).

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

10 Employees

The average monthly number of employees during the year was:

Administration
Employment costs
Wages and salaries
Other pension costs		 2025
Number
28
2025
£
528,486
17,108
545,594		 2024
Number
23
2024
£
369,091
6,985
376,076

There were no employees whose annual remuneration was more than £60,000.

11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Fixtures and
fittings
Computers
£
£
Cost
At 1 April 2024
17,720
7,545
At 31 March 2025
17,720
7,545
Depreciation and impairment
At 1 April 2024
6,414
5,773
Depreciation charged in the year
1,132
442
At 31 March 2025
7,546
6,215
Carrying amount
At 31 March 2025
10,174
1,330
At 31 March 2024
11,305
1,772		 Total
£
25,265
25,265
12,187
1,574
13,761
11,504
13,077

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

13
Debtors
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
14
Loans and overdrafts
Bank overdrafts
Payable within one year
15
Creditors: amounts falling due within one year
Notes
Bank overdrafts
14
Other taxation and social security
Accruals and deferred income
16
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
£
140,568
5,794
146,362
2025
£
374
374
2025
£
374
15,092
142,752
158,218
2025
£
17,108		 2024
£
13,921
-
13,921
2024
£
1,510
1,510
2024
£
1,510
7,559
26,311
35,380
2024
£
6,985

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

17 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Causeway Coast and Glens BC
Education Authority
Department for Communities
Big Lottery Fund
Children in Need
Community Foundation for NI
International Fund for Ireland
The Executive Office
Peace Plus
Youth Justice Agency
Public Health Agency
NI Housing Executive
TRI
THSF
Various small grants
Previous year:
Causeway Coast and Glens BC
Education Authority
Department for Communities
Children in Need
Community Foundation for NI
International Fund for Ireland
Various small grants
HFNI
TRI
YWA
Peace plus		 At 1 April
2024
Incoming
resources
Resources
expended
£
£
£
(750)
210,349
(153,567)
-
160,962
(155,862)
-
40,813
(40,813)
-
20,000
(2,098)
2,702
31,272
(31,720)
-
50,000
(9,467)
8,078
114,919
(106,237)
-
37,680
(37,680)
(120)
354,128
(336,598)
-
9,721
(9,721)
-
4,948
(4,948)
-
3,239
(3,239)
4,681
9,394
(14,075)
-
2,750
(2,605)
-
550
(550)
14,591
1,050,725
(909,180)
At 1 April
2023
Incoming
resources
Resources
expended
£
£
£
-
20,750
(21,200)
-
210,513
(202,513)
-
38,420
(38,420)
-
30,658
(27,956)
27,541
116,313
(137,380)
-
107,585
(94,331)
200
200
(400)
-
4,900
(4,900)
-
9,827
(5,146)
-
9,395
(9,395)
-
-
(120)
27,741
548,561
(541,761)		 Transfers
At 31 March
2025
£
£
(37,117)
18,915
(5,100)
-
-
-
-
17,902
-
2,254
-
40,533
(5,048)
11,712
-
-
(18,096)
(686)
-
-
-
-
-
-
-
-
-
145
-
-
(65,361)
90,775
Transfers
At 31 March
2024
£
£
(300)
(750)
(8,000)
-
-
-
-
2,702
(6,474)
-
(5,176)
8,078
-
-
-
-
-
4,681
-
-
-
(120)
(19,950)
14,591

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

18 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April Incoming Resources Transfers At 31 March
2024 resources expended 2025
£ £ £ £ £
General funds 108,257 136,427 (85,581) 65,361 224,464
Previous year: At 1 April Incoming Resources Transfers At 31 March
2023 resources expended 2024
£ £ £ £ £
General funds 94,495 62,519 (68,707) 19,950 108,257

19 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 March 2025:
Tangible assets
11,504
-
Current assets/(liabilities)
212,960
90,775
224,464
90,775
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 March 2024:
Tangible assets
13,077
-
Current assets/(liabilities)
95,180
14,591
108,257
14,591		 Total
2025
£
11,504
303,735
315,239
Total
2024
£
13,077
109,771
122,848

20 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

Docusign Envelope ID: 928381D3-8FEE-4D1F-ADCA-11399662D631

ROE VALLEY RESIDENTS ASSOCIATION

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

21
Cash generated from operations
2025
£
Surplus for the year
192,391
Adjustments for:
Investment income recognised in statement of financial activities
(811)
Depreciation and impairment of tangible fixed assets
1,574
Movements in working capital:
(Increase)/decrease in debtors
(132,441)
Increase in creditors
123,974
Cash generated from operations
184,687		 2024
£
612
(706)
1,764
53,917
11,504
67,091