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