The Drummond Centre Project Limited
Company Limited by Guarantee
Unaudited Financial Statements
For the year ended 31 March 2023
Charity Registration Number: XR75452 Company Registration Number: NI050397
The Drummond Centre Project Limited
Company Limited by Guarantee
CONTENTS
| Page | |
|---|---|
| Director's report | 1 |
| Independent examiner's report to the trustees | 2 |
| Statement of financial activities (including income and | 3 |
| expenditure account) | |
| Statement of financial position | 4 |
| Notes to the Financial Statements | 5 - 9 |
| Income and expenditure account | 10 |
1
The Drummond Centre Project Limited
Company Limited by Guarantee
Report of the Directors
For the year ended 31 March 2023
The directors present their report and accounts of the company for the year ended 31 March 2023.
Principal Activity
The principal activity of the company is the development of community projects in Donemana. Results for the year ended 31st March 2023 showed a surplus of £10,741.
The directors consider the financial position of the company to be satisfactory.
Directors
The directors who held office during the year were as follows:-
Pearl Smyth David Buchanan Margaret McLaughlin Amelia Rankin-Glenn
Share Capital
The company does not have a share capital but is limited by guarantee.
By order of the board
Pearl Smyth Secretary.
20 December 2023
2
The Drummond Centre Project Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Drummond Centre Project Limited
For the year ended 31 March 2023
I report to the trustees on my examination of the financial statements of The Drummond Centre Project Limited (the charity) for the year ended 31 March 2023.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the "2008 Act") and the Companies Act 2006 (the "2006 Act"). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do no comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a "true and fair" view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
W. S. STERRITT & CO. Chartered Certified Accountants
Carton House 15 Ebrington Terrace Londonderry BT47 6JS
20 December 2023
3
The Drummond Centre Project Limited
Company Limited by Guarantee Statement of Financial Activities
(Including income and expenditure account)
For the year ended 31 March 2023
| Unrestricted Funds Note £ Income and endowments Charitable activities 4 2,483 Other income 0 Total income 2,483 Expenditure Expenditure on charitable activities 5 2,937 Other expenditure 6 147 Total expenditure 3,084 Transfers between funds (221) Net (deficit)/income and net movements in funds (822) Reconciliation of funds Total funds brought forward 28,302 Total funds carried forward 27,480 |
Restricted Total Funds Funds £ £ 19,541 22,024 0 0 19,541 22,024 7,879 10,816 320 467 8,199 11,283 221 0 11,563 10,741 7,978 36,280 19,541 47,021 2023 |
2022 Total Funds £ 7,230 0 |
|---|---|---|
| 7,230 | ||
| 8,740 429 |
||
| 9,169 | ||
| 0 | ||
| (1,939) | ||
| 38,219 | ||
| 36,280 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
4
The Drummond Centre Project Limited
Company Limited by Guarantee Statement of Financial Position
As at 31 March 2023
| Note Fixed assets Tangible fixed assets 8 Current assets Debtors Cash at bank and in hand Creditors: amounts falling due within one year 9 Net Current assets Total assets less current liabilities Net assets Funds of the charity Restricted funds Unrestricted funds Total charity funds 10 |
£ £ £ £ 10,261 8,966 290 355 37,146 27,595 37,436 27,950 676 636 36,760 27,314 47,021 36,280 47,021 36,280 19,541 7,978 27,480 28,302 47,021 36,280 2023 2022 |
£ £ £ £ 10,261 8,966 290 355 37,146 27,595 37,436 27,950 676 636 36,760 27,314 47,021 36,280 47,021 36,280 19,541 7,978 27,480 28,302 47,021 36,280 2023 2022 |
|---|---|---|
| 36,280 | ||
| 36,280 | ||
| 7,978 28,302 |
||
| 36,280 |
The directors are satisfied that the company is entitled to exemption from the requirement to have an audit under the provisions of section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit under section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
These financial statements were approved by the board of trustees and authorised for issue on 30 December 2022, and are signed on behalf of the board by:
......................…………………… ......................……………………
Pearl Smyth, Director
Amelia Rankin-Glenn
Company Registration Number: NI050397
The company is a private limited company limited by guarantee, registered in Northern Ireland
The notes on pages 5 to 9 form part of these financial statements
5
The Drummond Centre Project Limited
Company Limited by Guarantee Notes to the Financial Statements
For the year ended 31 March 2023
1 General information
The charity is a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 16 Lisnaragh Road, Dunamanagh, Strabane, BT82 0QL.
2 Statement of compliance
These financial statements have been prepared in compliance with FRS102, "The Financial Reporting Standard applicable in the UK and the Republic of Ireland", the 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 (FRS102) (Charities SORP (FRS102) and the Charities Act (Northern Ireland) 2008.
3 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Going concern
There are no material uncertainties about the charity's ability to continue.
Judgements and key resources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for a particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowments.
Tangible Fixed Assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
5 Years
Equipment
6
The Drummond Centre Project Limited Company Limited by Guarantee Notes to the Financial Statements ( continued )
For the year ended 31 March 2023
3 Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities 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 specific policies are applied to particular categories of income.
Income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount 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 (the amount for which the asset could be exchanged) unless impractical to do so. The cost of any stock of goods donated for distribution to beneficiaries is deemed to be the fair value of those gifts at the time of their receipt and they are recognised on receipt. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
Membership subscriptions received in the nature of a gift are recognised in Donations and Legacies.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure is classified under headings of the statement of financial activities to which it relates:
Expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
Expenditure on charitable activities includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those that support costs and costs relating to the governance of the charity apportioned to charitable activities.
Other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable 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 activities they contribute to on a reasonable, justifiable and consistent basis.
7
The Drummond Centre Project Limited
Company Limited by Guarantee Notes to the Financial Statements ( continued )
For the year ended 31 March 2023
4 Income from charitable activities
| Unrestricted Funds Funding and charitable funds:- Derry and Strabane District Council 0 Dennett interchange 0 Groundwork Northern ESB 0 SSE Airtricity 0 DAERA 0 Halifax Foundation NI 500 Cooperation Ireland 420 Donemana & District Community Association 0 Glenelly Development Trust 0 National Lottery Community Fund 0 Generated funds:- Entrance fees 0 Registration fees 1,013 Fundraising, Donations 230 Room Hire 234 Sundry income 86 2,483 |
Restricted Total Funds Total Funds Funds 2023 2022 250 250 582 1,500 1,500 1,825 0 0 0 2,500 2,500 1,500 1,007 1,007 1,231 3,340 3,840 0 0 420 0 340 340 0 300 300 0 9,950 9,950 0 0 0 0 0 1,013 395 354 584 1,697 0 234 0 0 86 0 19,541 22,024 7,230 |
|---|---|
5 Expenditure on charitable activities
| Unrestricted Funds Programme outlays 767 Training expenses 100 Repairs & renewals 186 Rent & rates 65 Room Hire 0 Insurance 45 Printing & stationery 120 Donations 0 Clothing 0 Sundry expenses 1,046 Depreciation 608 2,937 |
Restricted Total Funds Total Funds Funds 2023 2022 2,863 3,630 2,913 0 100 0 174 360 298 600 665 460 0 0 20 1,300 1,345 1,246 200 320 132 0 0 0 0 0 0 0 1,046 1,111 2,742 3,350 2,560 7,879 10,816 8,740 |
|---|---|
8
The Drummond Centre Project Limited Company Limited by Guarantee Notes to the Financial Statements ( continued )
For the year ended 31 March 2023
6 Other expenses
| Other expenses | ||||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | Total Funds | |
| Funds | Funds | 2023 | 2022 | |
| Accountancy | 80 | 320 | 400 | 360 |
| Legal Fees | 0 | 0 | 0 | 0 |
| Bank charges | 54 | 0 | 54 | 56 |
| DETI | 13 | 0 | 13 | 13 |
| 147 | 320 | 467 | 429 |
7 Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
8 Fixed Assets
| Cost Balance at 31st March 2022 Additions Disposals Balance at 31st March 2023 Depreciation Balance at 31st March 2022 Disposals Charge for year Balance at 31st March 2023 Net Book Value at 31 March 2023 Net Book Value at 31 March 2022 |
Building 0 0 0 |
15,042 4,645 0 19,687 6,076 0 3,350 9,426 10,261 8,966 Equipment |
Total 15,042 4,645 0 |
|---|---|---|---|
| 0 | 19,687 | ||
| 0 0 0 |
6,076 0 3,350 |
||
| 0 | 9,426 | ||
| 0 | 10,261 | ||
| 0 | 8,966 |
9
The Drummond Centre Project Limited Company Limited by Guarantee Notes to the Financial Statements ( continued )
For the year ended 31 March 2023
| 9 Creditors : Amounts falling due within 1 year Accruals 10 Analysis of charitable funds As at 01/04/22 Unrestricted Funds 28,302 Restricted Funds: Groundwork Northern ESB 2,888 SSE Airtricity 2,847 Dennet Interchange 0 DAERA 1,213 Derry and Strabane District Council 0 Donemana & District Community Association 0 Glenelly Development Trust 0 Rapid 600 Halifax Foundation NI 0 National Lottery Community Fund 0 Donations 430 36,280 11 Analysis of net assets by fund Unrestricted Funds Tangible fixed assets 781 Net Current assets 26,699 27,480 |
Income 2,483 2,500 1,500 1,007 250 340 300 3,340 9,950 354 22,024 Restricted Funds 9,480 10,061 19,541 |
|
|---|---|---|
12 Company limited by guarantee
The Drummond Centre Project Limited is a company limited by guarantee and accordingly does not have a share capital.
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
10
The Drummond Centre Project Limited Income and Expenditure Account
For the year ended 31 March 2023
| Income from charitable activities Funding and charitable funds:- Derry and Strabane District Council Dennett interchange Groundwork Northern ESB SSE Airtricity DAERA Halifax Foundation National Lottery Community Fund Donemana & District Community Association Glenelly Development Trust (Restricted) Cooperation Ireland Generated funds:- Entrance fees Registration fees Fundraising Room Hire Sundry income Other income:- Total income Less expenditure Expenditure on charitable activities:- Programme outlays Training expenses Repairs & renewals Rent & ground rent Venue Hire Insurance Printing & stationery Donations Uniforms Sundry expenses Depreciation Other expenditure:- Accountancy Legal fees Bank charges DETI Surplus/(Deficit) on ordinary activities |
£ £ £ £ 250 582 1,500 1,825 0 0 2,500 1,500 1,007 1,231 3,840 0 9,950 0 340 0 300 0 420 0 20,107 5,138 0 0 1,013 395 584 1,697 234 0 87 0 1,918 2,092 0 0 0 0 22,025 7,230 3,630 2,913 100 0 360 298 665 460 0 20 1,345 1,246 320 132 0 0 0 0 1,046 1,111 3,350 2,560 10,816 8,740 400 360 0 0 54 56 13 13 467 429 11,283 9,169 10,742 (1,939) 2023 2022 |
£ £ £ £ 250 582 1,500 1,825 0 0 2,500 1,500 1,007 1,231 3,840 0 9,950 0 340 0 300 0 420 0 20,107 5,138 0 0 1,013 395 584 1,697 234 0 87 0 1,918 2,092 0 0 0 0 22,025 7,230 3,630 2,913 100 0 360 298 665 460 0 20 1,345 1,246 320 132 0 0 0 0 1,046 1,111 3,350 2,560 10,816 8,740 400 360 0 0 54 56 13 13 467 429 11,283 9,169 10,742 (1,939) 2023 2022 |
|---|---|---|
| 5,138 0 395 1,697 0 0 |
||
| 2,092 0 |
||
| 0 | ||
| 7,230 | ||
| 9,169 | ||
| (1,939) |
Surplus/(Deficit) on ordinary activities