Company registration number: N1610101 Nl charfty number: NIC105695 Glenariff Improvement Group Tradlng as Glenarfff Improvement Group Company Ilmlted by guarantee Unaudited financlal 8tatements 30 November 2022
Glenarlff Improvement Group Company limited by guarantee Contents Page Directors and other infonnation Tnjstegs, annual report (incorporating the directorfs report) Independent examinèrfs report Statemant of income and retsined eamings Statement of financial position 9-10 Notes to the financial statements 11-15
Glenariff Improvement Group Company limited by guarantee Directors and other information D5rectors Arthur Acheson sheer McGaughey Theresa McGaughey Margaret Mcllwain8 Mairead Mcmullan Kathleen Murray Rose McQui118n Secretary Theresa McGaughey Company number N1610101 Nl charAty number NIC105695 Reglstored offlce 40 Main Street Waterfoot Glenariff Co. Antrim BT44 OQS Bu8lness addrew 40 Main Straet Waterfoot Glenarrff Co. Anirim BT44 OQS Accountants Park McKillop and Company 51 Springwell Street Ballymena Co. Antrim BT43 6AT Bankers First Trust 78 Wellington Street Ballymena Co. Antrim BT43 6AF Page 2
Glenarlff Improvement Group Company limited by guarantee Trustees, annual report (incorporating the directorfs report) Year ended 30 November 2022 The tru8te8s, who are also the directors for the purpose of company law, present their raport and the unaudited financial statemerrts of the charity for the year ended 30 November 2022. Referenco and admini8trative details Registered charity name Glenariff Improvement Grp Charlty registratlon numbor NIC105695 Company registration number N1610101 Prfnclpal offlce and reglstered 40 Main Street office Waterfoot Glenarrff Co. Antrim BT44 OQS Trustees The trustees who seNed the company during the year were as follows.. Arthur Acheson Sheena McGaughey Theresa McGaughey Margarot Mcllwaine Mairead Mcmullan Kath5een Murray Rose McQuillan Accountants Park McKillop and Company Chartered Accountants 51 Springwell Street Ballym8na Co. Artrim BT43 &4T Structure, governanca and management The organisation is run by a committee. The committee has appointed trustees who 8r6 responsib for the daily administration of the charity.There is one employee engaged to work in the Glenariff Beach Cafe which is open in the Spring, Summer and Autumn tourist soa30n. Objectives and actlvlties The purposes of Glenariff Improvement Group are to promote the benefrt of the inhabitants of the Glenariff area and its environs without distirLtion of gender, sexual orientation, age, race, ethnicty, or political, religious or other opinion by associating the statutory authorities, voluntary and community organisations and inhabitants in a common effort to.. Page 3
Glenarlff Imwovement Group Company lirnited by guarantee Trustees. annual report (in¢orporats'ng the directorfs report) Year ended 30 November 2022 a) Promote o)mmunity development by providing resources. support and infomiation for community and voluntary groups and organisations arKI encouraging and assisting such organisations to co-operate to achieve their aims" The direct benefits flowing from this purpos8 include gater efficiency and effectiveness by working together. These benefits can be demonstrated by residents participating more fully in their local environment. b) Advance environmental protection and improvement; The direct benefits flowing from this purpose include an improved local environment. These benefits can be demonstrated by the community and amenities,. ramove litter and debris and otherwise improve the appearance of the area of benefit. The direct tenefits flowing from this purpose inc5ude improved village environs. The58 benefts can be d8mon3trated by the village having an improved appearance for local people and visitors. c) Provide facilities in the interests of social welfare for recreation and other leisure time occupations with the object of improving the cOndlOnS of lrfe for the said inhabitants; The direct benefits flLwing from this purpose include provision of ragular opportunities for people to m88t and learn in sociable surroundings. These benefits can be demonstrated by ragular club and other ectivities taking place. d) Relieve those in need by reason of youth, age or other disadvantage,. The direct benefits flowing from this purpose include the provision of opportunitres for socLg1 inter8Ction. These benefits can be demonstrated by provision of opportunities for social interaction demonstrated by people enjoying a better condition of lrfe, both socially and mentally. e) Promote culture and heritage and raise awar8n8ss of local history, The dir8Ct b8nefits flowing from this purpose include regular talks and activrties by a range of expert sFeakers. These benefits can be demonstrated by an increased awareness of cultural heritage. f) Promote tourism and opportunities for recreational purposes., The direct benefits flowing from this purpose include improved facilities for tourists and recreation. These benefits can be demonstrated by an annual increase in tourist appr6ciation of Glenariff. g) Promote good community relations, religious and racial hannony and equalty and diversity, The direct benefrts flcwing from this purpose include improved reFations with community groups from dIffert backgrounds. These benèfits can be demonstrated by sharing eXrtISe and enjoying activities togather. h) Promote such other charitable purposes as may from time to time be determined. Statement of compllanc• In setting our objectives and planning our activtties for Ihe year the trustees have given careful consideration to the Charity Commission for Northem Ireland's guidance on public benefit to ensure that the activities have helped lo achieve the charitvs purposes and provide a benefit to the beneficiaries. Page 4
Glenariff Improvement Group Company limited by guarantee Trustees, annual port (incorporating the directorfs report} Year ended 30 November 2022 Achlevements and perforniance Since Covid was still restricting the lives of Seniors we continued with 'Meals on IM)eels" which was started last year. The format of Chrislmas activities was also Ichv but thè highlight was Meals on Wh665s Christmas dinners cooked and delivered by the members of the Group along with a box of chocolates wth each dinner. Instead of the children receiving Selection Boxes from Santa Claus at a party in the Mariners, the boxes were deliver8d to the local primary sthool and the school children brought boxes home to their younger brothers and sisters. Funding was sourced from Causeway Coast and Glens Council, North Antrim Community Network. Glens Cycling C5ub and donations.The Beach Cafe laase was not ranewed at the bepinning of January 2022 when the lease was due for renewal. Financial review Having obtained funding from various sources, together with public and private donations, the organisation has been able to maintain sufficient cash flow to continue operati¢5 uninterrupted. Small company provlslons This report has been prepared in accordance with the provisions applicable to companifis entitled to the smal compani8s 8x•mption, This report was approved ty the board of director8 on 6 July 2023 and SKJned on behalf of the board by. Mairaad Mcmullan Trustee Page 5
Glenarlff Improvement Group Company Ilmited by guarantee Independent oxaminefs report to tho charity trust888 of Gl8nariff Improvement Group I report on the accounts of the company for the year ended 30 November 2022, which are set out on pages 8 to 16. Respectlve rnsponslbilitios of charity trustees and examlner As the charity's truste8s (and also th6 directors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the Companies Act 21JJ6. The trusteas consider that an audit is not required for this year under section 65(2) of the Charities Act (Northem Ireland) 2008 (the Charities Act) and that an irKlep8ndent examination is needed. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to: - examine the accounts under section 65 of the Charities Act 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 - stata whether particuk8r matters have come to my attention Ba81s of Independent examlnorfs roport I have examined your charity 8ccounts as required under section 65 of the Charrties Act and my examination carried out in accordance wrth the general Directions given by the Charity Commission for Northern Ireland under section 65{9){b) of the Charities Act. The examination included a review of the accounting records kept by th8 charity and companson of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees conceming any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: 1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of Section 3* of the Companies Act 20C6 and with the methods a1 principles of the 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 4. That there is further information needed for 8 proper understanding of the accounts to be reached Page 6
Glenariff Improvement Group Company limited by guarantee Independent examiner's Statement I hav8 completed my examination and have no concems in respect of the matters (1) to (4) list8d above and, in connection with following the Directions of the Charr(y Commission for Northern Ireland, I have found no matters that require drawing to your attention. Una McKillop FCA Chartered Accountants Ireland 8 July 2023 Park McKillop and Company 51 Springwell Street Ballymena Co. Antrim BT43 6AT Page 7
Glenariff Imwovement Group Company limited by guarantee Statement of income and retained earnings Year ended 30 November 2022 Year ended 30111122 Year ended 30111121 Noto Turnover Cost of sales 8,365 100 29,366 {9,1521 Gross profit 8,465 20,214 Administrative expenses Other operating income (20,265) 3,440 (16,976) 3,440 Oporatlng Ilossyprofit (8,360) 6,678 Other interest receivable and similar income 16 (Lo8s}Ipr¢)fit btforo taxatlon (8,360) 6,694 Tax on {lossyprofit (Lossyprofit for the flnancial yoar and total comprehensive Income (8,360) 6,694 Retalnèd 8arning8 at the start of the year R8tafned eamlngs at th• end of the yoar 27,308 20,614 18,948 27,308 All the actNlties of the company are from continuing operations. The notes on pages 11 to 15 forn7 part of these financial statements. Page 8
Glenariff Improvement Group Company limited by guarantee Statement of financial position 30 November 2022 30111122 30111121 Not• Flxed ass6ts Tangible assets 11,342 14,720 11,342 14,720 Current assets Stocks Cash at bank and in hand 100 17,992 100 28,293 18,092 28,393 Credltor8: amounts falllng due within one yoar (4,4C6) (6,285) Not curront asset8 13,686 22,108 Total assets le88 current liabiliti88 25,028 36,828 Credltors: amounts falllng du• after more than one year (6,080) 18,948 <9,520) Net a88et8 27,308 Capltal and reserves Profit and loss account 18,948 27,308 Memb•rn funds 18,948 27,308 For the year ending 30 November 2022 company was entitled to exemption from audrt under section 477 of the Companies Act 2006 relating to small comp8ni8s. Directors and trustees, resp3nsibilities.' The members have not requirad the company to obtain an audit of its financial statements for the in question in accordance with section 476., The directors acknowledge their responsibilities for complying with th8 r8quirements of th8 Act wrth respect to accounting records and the preparation of financial statements. Th8 financial stalemgnts hav8 been prepared in accordance wilh tha provisions applicabl8 to companies subj.ect to small companies, regime and in accordance with FRS 102 'Th Financial Rep(yting Standard applicablè in the UK and R&pubSi¢ of Ireland,. The notes on pages 11 to 15 forni part of these financial statemen Paga 9
Glenarlff Improvement Group Company limited by guarantee Statement of financial position (continued) 30 Novembor 2022 These financial statements were approved by the board of directors and authorised for issue on 6 July 2023, and are signed on behalf of the board by.. Mairead Mcmullan Director Theresa McGaughey Director Company registration number.. N1610101 The notes on pages 11 to 15 fomi part of these financial statements. Page 10
Glenariff Improvement Group Company Ilmited by guarantee Notes to the financial statements Year ended 30 November 2022 General Infomiation The company is a wivale company limited by guarantee, registered in Northam Ireland. The address of the registered offic8 is Glenariff Improvwiant Group, 40 Main Street, Waterfoot, Glenariff, Co. Antrim, BT44 OQS. Statement ot compliance These financial statements have bean pr8pared in complianc& with the provisions of FRS 102, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, the Statement of R6commended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP IFRS 102)) and the Charities Act (Northern IreSand) 2008. Accountlng pollcles Basis of preparatlon The financial statements have be8n prepared on the historical Cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair valu8 through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concern Ther8 are no material uncertainties about the charitvs ability to continue. Judgemfrnt8 and key gourcès of estlmatlon uncertainty The preparation of the financial statements requires management to make judgernents, estimates and assumptions that affect the amounts reported. These estimates and judgements 8re continually reviewed and are based on experience and other factors, including expectations of future events that are belièved to be raasonable under th6 cir¢um8tanc&s. Fund accountlng Unrestricted funds are available for use at tha discretion of Ihe truste8S to further any of the charitls purposes. Designated fuThJs are unrestn'cted funds earmarked by the trustees for particular future projects or commrtments. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the tenns of an appeal, and fall into one of two subdasses: restricted income funds or endowment funds. Page 11
Glenariff Improvement Group Company limited by guarantee Notes to the financial statements (continued) Year ended 30 November 2022 Turnover A15 incoming resources are incSuded in the statement of financial activib'es when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following sp8cific policies are appli8d to particular categories of income.. - incom8 from donations or grants is r6cognis8d wh&n thwé is 8vidence of entiJement to the gif( receipt is probable and rts amwnt can be measured reliably. - legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated sale value. Donated facilÈties and services are recognised in the accounts when received rf the value can be reliably measur8d. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classrfied as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned rf unspent, in which case it may be regarded as restricted. Resources expendod Exp8nditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activites to which it relates. expenditure on raising funds includes the costs of all fundraising activities, events, non-charrt8ble trading activit8S, 8nd the sale of donated goods. - expenditure on charitable activities includes all costs incurred by a charty in undertaking activites that further its ch8ritable aims for the benefit of the beneficiaries, including those SUPP¢Jrt costs and costs relating to the governance of the charity apportioned to charitable activities. other expendrture includes all expanditure that is neither re18ted to raising funds for the charity nor part of its expenditure on charitabSe activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activites they contribute to on a reason8ble, justrfiable and consistent basis. Taxation The taxation expense represents aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it re18tes to items recognised in other compreh8nsive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in &epFtal and reserves, respectively. Current tax is recognised on taxable profit for the current 8nd past periods. Current tax is measured at the amounts of tax expected to pay or Ver using the tax rates and IS that have tjeen enacted or subst8ntively enacted at the reporting date. Deferred tax is recognised in respect of all timing differènces at the reporting date. Unrelieved tax losses and other def6rred tax assets are recoanised to the ethnt that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable Profits. Deferred tax is measured using the tax rates and laws that hav8 been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the tim ing difference. Page 12
Glenarfrff Improvement Group Company Ilmlted by guarantee Notes to the financial statements (continued) Year ended 30 November 2022 Tanglble assets Tangibl6 assets are inrtially recorded at cost. and are subsequently stated at cost less any accumulated d8preciation and impaiment lossès. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An incr8ase in th8 carying amLwnt of an ass8t as 8 r8sult of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously reco3nised in profit or loss. A decrease in th8 carrying amount of an asset as a result of revaluation 15 recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset Where a revaluation decrease exd5 the accumulated revaluation gains sccumulated in capital and resorvas in respect of that 8SS8t, the excess sh811 bg recognised in profit or loss. Depreclatlon Deweciation is calculat8d so as to write off th8 Cost or valuation of an asset, less its rèsidual value, over the useful economic lffe of that asset as follows.. Short leasehokl property Plant and machinery 100 straight line 10% straight line If there is an indi&ition that there has been 8 signrficant ch8nge in depreciation rate, useful lrfe or rgsidual valua of tangible a&8ets, the d8pr8ciation is revisad pr08P8Ctiv&ly to reflect the new estimates. Impalrmont A review for indicators of impainnent is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable 8mount of the cash-g8nerating unit to which the asset belongs. The cash-generating unit is the smallest identrfiable group of assets that includes the asset and generates cash inflows that are largely ind8p8ndent of the eAsh infiows from othar assets or groups of assets. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, cL)sts of converston arKI other )StS incurred in bringing the stocks to their present location and condition. Page 13
Glenariff Improvement Group Company limited by guarantee Notes to the financial statements Icontinued) Year ended 30 November 2022 Government grants Govemment grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonabla assurance that tha company will comply with the conditions attaching to them and the grants will be received. Governm8nt grants are recognised using the accrual model and the perfom18nce model. Under the accrual model, govemment grants re18ting to revenue are recch3nised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are r8cognised in income in the period in which it becomes receivable. Grants relating to assets aro recognised in income on a systematic basis over the expected useful lrfe of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred incom8 and not deducted from the cayIng amount of the asset Under the performance model, where the grant does not impose specified future perform8nce-rel8ted corKlitions on tha recipent, it is recognisad in income when the grant prt>ceeds are received or receivable. Mthere the grant does impose specrfied future perfornance-related conditions on the recipient, it is recognised in income only when the perfomance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as Financial instruments A financial asset or a financial liability is reo)3nised only when the company l)ecomes a party to the contractual provisions of the instrument. B8sic financial instruments are initially recognised at th8 transaction price, unless the arrangement constitutes a financing transaction, where it is recognised 8t the present V8lue of the future payments discounted at 8 market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otheNise be measured reliably, the investment is subsequently measured at fair value with changes in fair value reco3nised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financi81 instruments, including derivatives, ar8 initl8lly recognised 8t fair value, unless payment for an asset is deferred beyond nomial business temis or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or 8mortised cost are reviewed for obj'ective evidence of impairment at the end of each reporting date. If there is obiectFVè evidence of impairnient, an impainnent loss is recognised in profit or loss immediately. For all equity instruments regardless of s1gnrflcan, 2nd other financial assets that are individually signrficant, these are assessed individually for impaimient. Other financi81 assets or either assessed individually or grouped on the b8sis of similar credit risk characterist. Any reversals of impairment are recognised in profit or loss immedialety, fio the extent that the reversal does not resutt in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impaiment not previously been recognised. Limited by guarantee The company is limited by guarantee arKI does not have a share capital. In the event of the company being wound up, the liability of each member is linited to £1. Page 14
Glenariff Improvement Group Company Ilmited by guarantee Notes to the financial statements (continued) Year ended 30 November 2022 Losslprofit before taxation Losslwofit before taxation is stated after chargingl(credrting).' Year ended 30111122 Year ended 30111121 Depreciation of tangible assets 3, 378 3,818 Tangibl8 assets Short 18asehold property Plant and machinery Total Cost At 1 December 2021 and 30 November 2022 2,700 35,476 38,176 Depreclatlon At 1 December 2021 Charge for year At 30 November 2022 1,620 270 21,836 3,108 23,456 3,378 1,890 24,944 26,834 Carrying amount At 30 November 2022 810 10,532 11,342 At 30 November 2021 1,080 13,640 14,720 Croditor8: amounts falllng due wlthin one year 30111122 30111121 Other creditors 6,285 Croditorn: amounts falllng due aftw more than one year 30111122 30111121 Other creditors 6,080 9,520 Controlllng party The company is IFmited by guarantee and there is no ultimate controlling party. Page 15
Glenariff Improvement Group Company Ilmited by guarantee The following pages do not fomy part of the statutory accounts.
Glenariff Improvement Group Company limited by guarantee Detailed income statement Year ended 30 November 2022 Year ended 30111122 Year ended 30111121 Turnover Grant income for Beach Cafe Grant income for Group Donations and fundraising income for Group Beach caf8 takings Other income 10,000 11,996 6,485 200 7,370 1,680 8,365 29,366 C08t of sales Opening stock Bèach Cafe purchas8S (100) (9,152) (9,252) 100 Closing stock 100 100 (9,152) Gross profit 8,465 20,214 Gro88 proflt percentag8 101.20 68.8% Overhead8 Adminlstrative exp•n8es Luncheon club - Group Insurance - Group Beach Cafe insurance Repairs and maintenancA - Group Travel - Group Christrnas expenditure - Group Bank charges Ganeral expenses Donations Depreciation of tangible assets (14,861) (165) (8,353) (165) (479) (272) {307} (2,270) (532) {7801 (6541 (69) (588) (550) (3,378) (20,265} (3,818) (16,976) Other operating Income Govemment grants released to the PIL account 3,440 3,440 3,440 Page 17
Glenariff Improvement Group Company limlted by guarantee Detailed income statement (continued) Year ended 30 November 2022 Year ended 30111122 Year ended 30111121 Operatlng {loss)Iprofit (8,360) 6,678 Operating (lossyprofit percentagè 99.90 22.70/tr Other interest receivable and sim ilar income ILo88yprofit bèfore taxation 16 (8,360) 6,694 Page 18