REGISTERED COMPANY NUMBER: N1024615 (Northern Ireland) REGISTERED CHARITY NUMBER: 105535 Re rt of the Trustees and naudited Financial Statemen for the Year En ed 30 June 24 for Dromore 2000 Limited
Dromore 2 O Limited Contents of the Financial Statements for the Year End O June 2024 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 13 Detailed Statement of Financial Activities 14 to 15
Dromore 2000 Limited Re ort of the Trustees for th Year Ended 30 J ne 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statemenls of Ihe charity for the year ended 30 June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Ststement 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). OBJECTIVES AND ACTIVITIES Objectlves and aims The Company's objects are: i. The relief of financial hardships. To increase employmenl opportunities in the town of Dromore and its natural hinterland by the active participation of the company in job creation and in stimulation, promotion and creation of a favourable environment for the advanrnent of education, additional job opportunities and new enterprises in the area. ii. To promote the benefit of the inhabitants of the area wilhout distinction of sex or of political, religious or other opinions by associating govemmentsl agencies, the local authority, voluntary organisations, trade unions, employers, professions and the inhabitants of the area in a common effort to advance and create and provide facilities for the employment and training of the said inhabitants in the interest of social welfare with the object of improving their conditions of life. iii. To assist financialty or otheiSe by means of loans. with or without interest, on such tems as to repayment, security or otherwise as are deemed appropriate or by way of grant, any individual, company. firm, undertaking. partnership or cooperative or other group establishing or seeking to establish a new business or enterprise or to expand an existing business or enterprise within the area which will create employment opportunities. iv. To organise the availabiltty from supporters of the company of human resources capable of giving expert advice and practical assistance and material resources in the fomi of buildings, land, waste materials, unutilised research plant or machinery required to enable or assist any such individual, company, firm undertaking, partnership, cooperatNe or other group to establish a new business or enterprise or to expand an existing business or enterprise within the district and to make such advice or assistance available on a voluntary or financially assisted basis as shall be considered appropriate. v. To promote, encourage, sponsor, organise and assist any individual, company, fimi, undertaking, partnership, c(Foperative or other group to examine the feasibilty of or to undertake on an experimental basis any enterprise or project or to undertake the training required to launch any enterprise or project which if SucsSfUl, seems likely to provide employment opportunities for the inhabitants of the area. vi. The maintenance, improvement or provision of public amenities. vii. The preservation of buildings or sttes of historic or architectural interest. viii. The provision of recreational facilities for the public regardless of their youth, age, infinnity or disablement, financial hardship or other circumstances. ix. The protection of the envtronment. x. The promotion of public childcare and health facilities. Page 1
Dromore 200 Limited Re or ort of the Trustees h Year Ended 30 June 2024 OBJECTIVES AND ACTIVITIES Signlficant activities The charity organised the christmas lighting for the town. Dromore 2000 Ltd rent their building to Westem Health & Social Services Trust who run a day centre for individuals with leaming disabilities. The organisation provides advice and encourage the regeneration of the local exisling businesses in the town. The organisation relieves financial hardships. increases employment opportunities through participation in job creation, stimulation and promotion with new enterprises in the area and promotes the benefit of the inhabitants of the area by creating and providing facilities for their employment and training. The organisation carries out maintenance, improvement or provision of public amenities and will preserve buildings or sites of historic or archrtectural interest. Dromore 2000 Limited provides recreational facilities for the public regardless of their age. infirmity or disablement, financial hardship or other circumstance and promotes public. childcare, and health facilities. The charity also provides a hot- desk service known as the Village Table offering an office space andlor meeting space for local businesses and other entities which do not otheiSe have access to Offi facilities. Publlc benefit During the year, the charty continued to operate its day centre for local people with learning dIffultIes, as well as providing key social events for all local people. The christmas lights event brings a huge sense of community to the town as well as being a key social event for elderly or other vulnerable individuals who lack independent transport to Omagh and Enniskillen (the two closest large towns to Dromore). The Village Table service was available for the full year and provided meeting facilrties to a wide range of local groups and businesses. ACHIEVEMENT AND PERFORMANCE Charltable activities During the year to 30 June 2024. the charity held its annual christmas Iwhts event in December 2023, with costs being covered by a contribution from the local council and town trader donations. Whilst this event does not generate a surplus, such events are important in creating and enhanang communty spirit. The Village Table had a steady strearn of bookings throughout the year generating additional income for the charty. FINANCIAL REVIEW Flnancial posltlon The trustees consider the financial perfomance by the charity during the year to have been satisfactory. Overall the charity recorded a surplus of £9,365 {2023 £70 surplus). The rent was re- negotiated with WHSCT and backdated to 2023 and this contributed to an increase in rental income from Bridge House. The Balance Sheet totals £271,770 (2023: £262,405). Reserves policy At the end of the financial year to 30 June 2024, the reseNes held by the charity amounted to £271 ,770 (2023 £262,405). Dromore 2000 Limited has accumulated a surplus of funds Sin its inception. These reserves provide some security Ihat the charity will continue to function in the short term rf available funding andlor income streams decline in the future. Dromre 2000 Limited has not specifically defined the level of reserves to be held, either as a maximum or minimum but all surplus funds are reinvested back into the charity and are held as described above for future projects and for the future lrfe of the charity. STRUCTURE, GOVERNANCE AND MANAGEMENT Govemlng document The charity is controlled by its goveming document. a deed of trust, and conth'tutes a limited company. limited by guarantee, as defined by the Companies Act 2006. Page 2
Dromor 00 Limited Re ort of the Trustees he Year Ended 30 June 2024 REFERENCE AND ADMINISTRATNE DEfAILS Registsred Company number N1024615 (Northern Ireland) Reglstered Charity number 105535 Registered offlce 32-34 Main Street Dromore Co. Tyrone BT78 3AB Trustees M Collon R Goodwin C B Kenwell B P Maguire M Mccoy C Mccusker D McGlone K McLaughlin D Montague R Turner P Daly (resigned 14.8.24) Company Secretsry D Montague Approved by order of the board of trustees on 25 March 2025 and signed on its behalf by.. D Montague - Trustee Page 3
Inde endent Examinerfs Re Dromore 2000 Limited I report on the accounts of the company for the year ended 30 June 2024, which are set out on pages five to thirteen. rt to the Trustees of Respectlve responsiblllties of charity trustees and examiner As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the pparatIOn of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibilty to: examine the accounts under Section 65 of the Charities A follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act state whether particular matters have rne to my attention. Basis of the independent examlnefs report I have examined your charty accounts as required under Section 65 of the Charities Act and my examination was carried out in accordan with the general Directions given by the Charity Commission for Northem 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 with those records. It also included consideration of any unusual items or disdosures in the accounts, and seeking explanations from you as charity trustees conmIng any such matters. My role is to state whether any material matters have come to my attention giving me rAuse to believe: That accounting records were not kept in accordan with Section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not compty with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is further information needed for a proper understanding of the accounts to be reached. Independent examinerfs ststement I have completed my examination and have no concems in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Rory P Gonnley The Institute of Financial Accountants 25 March 2025 Page 4
Dromore 2000 Limited Statement of Financial Activities for the Year Ended June 2024 30.6.24 Total funds 30.6.23 Total funds Unrestricted Restricted fvnds fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 3.284 3,284 2.719 Charitable activitles Christmas Lights Village Table 2,336 2,336 4,280 2,535 2,190 4,280 Investment income Total 17,207 24,771 17,207 27,107 8,608 16,052 2,336 EXPENDITURE ON Charitable actlvities Christmas Lights Pollinator Garden 3.669 3.594 2.336 6,005 3,594 6.989 Other Total 8,143 15,406 8,143 17,742 8,993 15,982 2,336 NET INCOME 9,365 9,365 70 RECONCILIATION OF FUNDS Totsl funds brought forward 212.864 49,541 262,405 262,335 TOTAL FUNDS CARRIED FORWARD 222.229 49,541 271.770 262,405 The notes form part of these financial statements Page 5
Dromore 2000 Limited Balance Sheet 30 June 2 24 30.6.24 Total funds 30.6.23 Total funds Unrestricted Restricted funds fund Notes FIXED ASSETS Tangible assets Investment property 2.349 150 000 152,349 49,541 51,890 150000 201,890 53,314 150,000 203,314 49,541 CURRENT ASSETS Debtors Cash al bank and in hand 5.620 67,432 73.052 5.620 67,432 73.052 833 61.343 62,176 CREDITORS Amounts falling due wrthin one year (3,172) (3,172) (3,085) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 222.229 49,541 271,770 262,405 NET ASSETS FUNDS Unrestricted funds Restricted funds TOTAL FUNDS 222.229 49,541 271,770 262,405 10 222.229 212,864 49.541 262,405 271770 The charitable company is entitled to exemption from audil undei Section 477 of the Companies Act 2006 for the year ended 30 June 2024. The members have not required the company to obtsin an audit of its financial ststements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply wrth Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to the charitable company. The notes forn part of these financial ststements Page 6 continued...
Dr mor 200 Limited Balan Sheet- continued 30 une 2024 These financial statements have been prepared in accordan with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 25 March 2025 and were signed on its behalf by". D Montague - Truste The notes fomi part of these financial statements Page 7
Dro re2 00 imited Notes to the Financial Statements for the Ye r Ended 30 June 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance wrth the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Ststement 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),. Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial ststements have been prepared under the historical cost convention. Income All income is recognised in the Ststement of Financial Activities once the charty has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expend(iure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Imiere costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. Tanglble fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Investment property Investment propety is shown at mst recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the Statement of Financial Activities. Taxatlon The charity is exempt from corporation tsx on its charitable activities. Fund accounting Unrestricted funds Gan be used in ac)rdanCe with the charitable objectives at the discretion of the trustees. Restricted funds can onty be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of eath fund is included in the notes to the financial statements. Page 8 continued..
Dromore 2000 Limited Notes to the Financial Statements - continued for he Year Ended 30 June 2024 INVESTMENT INCOME 30.6.24 30.6.23 Rents received Deposit account interest 15.933 1.274 17.207 8,333 275 8,608 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting)- 30.6.24 30.6.23 Depreciation - owned assets TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023. 1,515 Trustees. expenses There were no trustees, expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds fund Total fvnds INCOME AND ENDOWMENTS FROM Donations and legacies 2.718 2,719 Charitable actlvitles Christmas Lights Village Table 2.535 2,535 2,190 2,190 Investment income Total 8.608 EXPENDITURE ON Charitable activitles Christmas Lights 6,989 6,989 Other Total 8,993 15,982 8,993 15,982 Page 9 continued..
Dr more 2000 Limited Notes to the Financial Statements - continued for the Year Ended 30 June 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - contlnued Unrestricted Restricted funds fund Total funds NET INCOMEI(EXPENDITURE) (2,466) 2,536 70 RECONCILIATION OF FUNDS Total funds brought forward 215,330 47,005 262,335 TOTAL FUNDS CARRIED FORWARD 212,864 49,541 262,405 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold propety Plant and machinery Totals COST At 1 July 2023 and 30 June 2024 DEPRECIATION At 1 July 2023 Charge for year At 30 June 2024 NET BOOK VALUE At 30 June 2024 At 30 June 2023 80,863 1,540 6,732 89,135 29,663 1,060 30,723 1,455 17 1,472 4,703 347 5,050 35,821 1,424 37,245 68 85 51.200 INVESTMENT PROPERTY FAIR VALUE At 1 July 2023 and 30 June 2024 NET BOOK VALUE At 30 June 2024 At 30 June 2023 150,000 150,000 150000 Page 10 continued...
Dromore 2000 Limited Notes lo the Financial Statements - continued for the Year Ended 30 June 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.24 30.6.23 Trade debtors 5,620 833 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.6.24 30.6.23 Trade creditors VAT Other creditors Accrued expenses 14 1,598 21 1,059 555 1,450 3,085 1.560 3.172 10. MOVEMENT IN FUNDS Net movement in funds At 30.6.24 At 1.7.23 Unrestrlctsd funds General fund Revaluation reserve 46.916 165.948 212,864 9,365 56,281 165,948 222.229 9,365 Restrlcted funds Restricted funds 49,541 49,541 TOTAL FUNDS 262 405 9.365 271,770 Net movement in funds, induded in the above are as follows: Incoming resources Resources Movement expended in funds Unrestrlcted funds General fund 24,771 (15,406) 9,385 Restrlcted funds Restricted funds 2.336 (2.336) TOTAL FUNDS 27,107 17,742) 9,365 Page11 continued...
Dromor 20 O Limite Notes to the Financial Ststements- continued for the Year Ended 30 June 2024 10. MOVEMENT IN FUNDS- continued Comparatives for movement In funds Net movement in funds At 30.6.23 At 1.7.22 Unrestrlcted funds General fund Revaluation reserve 49,382 165.948 215,330 (2,466) 46,916 165,948 212,864 (2,466) Restrlcted funds Restricted funds 47,005 2.536 49,541 TOTAL FUNDS 262.335 70 262,405 Comparative net movement in funds. included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fund 13,516 (15,982) (2,466) Restricted funds Restricted funds 2.536 2.536 15,982) 70 TOTAL FUNDS 16.052 A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 30.6.24 At 1.7.22 Unrestricted funds General fund Revaluation reserve 49,382 165,948 215,330 6,899 56,281 165,948 222,229 6,899 Restricted funds Restricted funds 47.005 2,536 49.541 TOTAL FUNDS 262.335 9.435 271.770 Page 12 continued..
Dromore 2000 Limi ed Notes to the Financial Statements- continued for th ar Ended 30 J ne 2024 10. MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources Movement expended in funds Unrestrictsd funds General fund 38.287 {31.388) 6,899 Restricted funds Restricted funds 4,872 (2,336) 2,536 TOTAL FUNDS 43,159 33,724 9,435 11. RELATED PARTY DISCLOSURES During the year. the chaiity engaged the services and made a payment to a trustee under written agreement duly approved by the charity. Details of the payment are outlined below. Kathleen McLaughlin - Trustee - payment for insurance services 2024: £2,944 {2023: £2,900) Page 13
Dromore 2000 Limited Detailed Statement of Financial Activities f r th Year Ended 30 June 2024 30.6.24 30.6.23 INCOME AND ENDOWMENTS Donations and legacies Donations 2,719 3,284 Investment Income Rents reiVed Deposit account interest 15,933 1,274 17,207 8,333 275 8,608 Charitable activlties Charitable Activities Total Incoming resources 6.616 27,107 4,725 16,052 EXPENDITURE Charitable activlties Christmas lights Pollinator garden 5.930 3,594 9.524 6,989 6.989 other Donations 200 Support Gosts Management Insurance Light and heat Telephone Advertising Sundries Depreciation of tangible and heritsge assets 2,277 764 437 2,229 721 574 122 13 1,515 5,174 1.424 4,902 Finance Bank charges Legal and professional fees 12 306 306 12 This page does not fonn part of the statutory financial statements Paae 14
more 2000 Limited Detailed Statement of Financial Activities for the Year nded 30 une 2024 30.6.24 30.6.23 Finance Other Rates and water Website costs Repairs and maintenance Cleaning 329 348 1,454 105 2,236 154 637 75 1,050 Governance costs Accountancy and legal fees Independent examinerfs fees 1,560 200 1,760 17,742 1,371 200 1,571 15,982 70 Total resources expended Net income This page does not fomi part of the statutory financial statements Page 15