GARVAGH DEVELOPMENT TRUST TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The truslees presenl their annual report and financial statements for the year ended 31 December 2022. The accounts have been prepared in accordance with the accounling policies sel out in nole 1 to the accounts and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)° (as amended for accounting periods commencing from 1 January 2016). Objectives and activities The charity maintains a 81 listed building, 5 units which are rented to local businesses and 9 rooms available for hire to the public catering for groups ranging in size from 5 - 100 people. They also run a cafeleria called the Pantry. The objects of the company are., 1. to promote Ihe benefit of the inhabitants of Garvagh and the neighbourhood Ihereof by the advancement of education and the provision of facilities in the interest of social welfare for recreation and leisure lime occupation with the object of improving the conditions of life for the said inhabitants-, 2. to preseNe for the benefit of the public whalever land, buildings or other structures may exist in Garvagh and ils environs of particular beauty or historical or architectural interest. 3. lo provide or secure the provision of public amenities in Garvagh and its environs for Ihe benefit of the inhabitants thereof. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities Ihe charity should undertake. Advancin education The direcl benefits which flow from this purpose are.. increased access to informalion, increased confidence and self-esteem and increased ability to access employment opportunities. The benefits are evidenced through feedback and evaluation from the group and local community. There is no harm anlicipaled from this purpose. The charity's beneficiaries are people living in the rural area of Garvagh and District. A private benefit may arise from trustees accessing our ongoing programme of activities for the community. These benefits are incidental and necessary lo ensure the benefit is provided to our beneficiaries. Providin facilities in the interests of social welfare for recreational activities desi ned lo romote health and fitness or other leisure-lime occu alion with the ob'ecl of im rovin the conditions of life for the said inhabitants The direct benefits which flow from this purpose are.. the provision of a neutral venue for local people lo meet and socialise. increased access to information, increased confidence and self-esleem and increased cross- community interaction. The benefits are evidenced through feedback and evaluation from the group and loGal community. There is no harm anticipated from this purpose. The charity's beneficiaries are people living in the rural area of GaNagh and District. A private benefit may arise from Iruslees accessing our ongoing programme of activities for the community. These benefits are incidental and necessary to ensure the benefit is provided lo our beneficiaries. Preservin for the benefit of the inhabitants of GaNa constructed herila ema exist in and around the Villa or historical archileclural or constructional interest The purpose of this charity is lo provide management and administration to secure, by such means as are available, the preservation, protection and restoration of Garvagh Community Building, a listed building, for the benefit of the inhabitants of Garvagh. The benefit5 include the maintenance of a listed building for use by the local community, visitors and lourisls. What was once a nearly derelict building is now slruclurally secure and being fully used by the local community, small businesses and other charitable organisations. The charity's beneficiaries are people and business living in Northern Ireland who use and visit Garvagh Community building. h and Dislricl whatever of the historical architectural and e of Gatva h in the form of buildin s of articular beaut
GARVAGH DEVELOPMENT TRUST TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 Providin roved social and environmenlal conditions as a result of communit activities leadin to a better ualit of life for the inhabilanls The beneficiaries are the general public. The benefits include the maintenance of current amenities and the creation of new village amenities for use by the local community, visitors and tourists. What was once neglected in terms of amenities including pathways, parks, public leisure facilities, signage and lighling is now fit for purpose and structurally secure and being fully used by the local community, small businesses and other charitable organisations. The charity's beneficiaries are the general public living in Northern Ireland who use andl or visit the village of Garvagh and ils environs. renewal and re eneralion Achievements and perfomiance Financial review The company returned nel expenditure for the year of £48,070 (2021 £45.207 net income). Al 31 sl December 2022 the total funds of the charity amounted lo £580,284 {2021 £628,354) comprising designated funds of £493,481 (2021 £510,645), general unrestricted funds of £54,566 {2021 £52,736} and restricted funds of £32,237 (2021- £64,973). Of the total funds reported above, £76,888 is made up of cash at bank and in hand. Reserves policy The trustees endeavour to maintain sufficient funds to ensure that, in the event of a significant drop in funding, they will be able lo continue the charity's current activities while consideration is given to ways in which additional funds may be raised. Risk Management The trustees have assessed the major risks to which the charity is exposed, and are satisfied thal systems are in place to mitigate exposure to the major risks. COVID-19 2022 has been a more positive year following Covid 19 which has seen an increase in room hire with groups returning to rent rooms for various workshops, events, and classes. GDT continues lo rent 3 rooms within the building to local businesses lo help boost income. structure, governance and management The charity is a company limited by guarantee and is governed by its Memorandum and Articles of Association. Garvagh Development Trust regislered with the Charity Commission for Northern Ireland on 11 May 2016. 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.. Miss A Clyde Dr J Kerr Mr P McKinnèy Mrs J Moore Mr J Smyth Mrs R Topping Mr B Weir Miss T Magowan Mr l Laughlin Mr O Quigg
GARVAGH DEVELOPMENT TRUST TRUSTEES, REPORT {CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The management of the company is the responsibility of Ihe dire¢lofS who are elecled undei the terms of the Memoraridum and Artlcles of AssoGialion. Mr B Weir. Dr J Kerr. Mrs R Topping, and Mrs J Mooie, being one half of the direclors for the time being, in accordance with Section 34 of the Articles of A550cialion, retire by rolalion al the Annual General Meeling. The above persons, being ellgible, offer themselve5 for re-election. None of the Iruslees ha5 any beneficial interest in the company. All of Ihe Iruslees are member5 of the company and guarantee lo contribute £1 in the evenl of a winding up. The Iruslees, report was approved by the Board of Trustees. Mlss T Magowan Trustee Dated= 18 July 2023