## **The Drummond Centre Project Limited** ## **Company Limited by Guarantee** ## **Unaudited Financial Statements** _For the year ended 31 March 2024_ 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 2024_ The directors present their report and accounts of the company for the year ended 31 March 2024. ## **Principal Activity** The principal activity of the company is the development of community projects in Donemana. Results for the year ended 31st March 2024 showed a deficit of £3,150. 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. 30 December 2024 **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 2024_ 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 2024. ## **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 30 December 2024 **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 2024_ |Unrestricted
Funds
**Note**
£
**Income and endowments**
Charitable activities
**4**
3,623
Other income
0
**Total income**
3,623
**Expenditure**
Expenditure on charitable activities
**5**
4,000
Other expenditure
**6**
83
**Total expenditure**
4,083
Transfers between funds
(126)
**Net (deficit)/income and net movements in funds**
(586)
**Reconciliation of funds**
Total funds brought forward
27,480
**Total funds carried forward**
26,894|Restricted
**Total**
Funds
**Funds**
£
**£**
16,377
20,000
0
0
16,377
20,000
18,667
22,667
400
483
19,067
23,150
126
0
(2,564)
(3,150)
19,541
47,021
16,977
43,871
**2024**|2023
Total
Funds
£
22,024
0| |---|---|---| |||22,024| |||10,816
467| |||11,283| |||0| |||10,741| |||36,280| |||47,021| 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 2024_ |**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**|£
£
£
£
16,696
10,261
350
290
27,541
37,146
27,891
37,436
716
676
27,175
36,760
43,871
47,021
43,871
47,021
16,977
19,541
26,894
27,480
43,871
47,021
**2024**
**2023**|£
£
£
£
16,696
10,261
350
290
27,541
37,146
27,891
37,436
716
676
27,175
36,760
43,871
47,021
43,871
47,021
16,977
19,541
26,894
27,480
43,871
47,021
**2024**
**2023**| |---|---|---| |||47,021| |||47,021| |||19,541
27,480| |||47,021| 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 2024, 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 2024_ ## **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 2024_ ## **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 2024_ ## **4 Income from charitable activities** |Unrestricted
Funds
**Funding and charitable funds:-**
Derry and Strabane District Council
213
Dennett interchange
0
Groundwork Northern ESB
0
Owenreagh Power
0
SSE Airtricity
0
DAERA
0
Halifax Foundation NI
0
Cooperation Ireland
0
Donemana & District Community Association
0
Glenelly Development Trust
0
National Lottery Community Fund
0
**Generated funds:-**
Entrance fees
260
Registration fees
1,469
Fundraising, Donations
873
Room Hire
797
Sundry income
11
3,623|Restricted **Total Funds**
Total Funds
Funds
**2024**
2023
200
413
250
0
0
1,500
5,500
5,500
0
5,000
5,000
0
1,000
1,000
2,500
0
0
1,007
3,260
3,260
3,840
0
0
420
1,000
1,000
340
0
0
300
0
0
9,950
0
260
0
0
1,469
1,013
417
1,290
584
0
797
234
0
11
86
16,377
20,000
22,024| |---|---| ## **5 Expenditure on charitable activities** |Unrestricted
Funds
Programme outlays
1,149
Training expenses
70
Repairs & renewals
116
Rent & rates
0
Insurance
0
Printing & stationery
10
Donations
900
Clothing
0
Leasing payments
119
Telephone
662
Sundry expenses
810
Depreciation
164
4,000|Restricted **Total Funds**
Total Funds
Funds
**2024**
2023
10,812
11,961
3,630
0
70
100
0
116
360
640
640
665
1,422
1,422
1,345
0
10
320
0
900
0
877
877
0
0
119
0
0
662
612
0
810
434
4,916
5,080
3,350
18,667
22,667
10,816| |---|---| **8** ## **The Drummond Centre Project Limited Company Limited by Guarantee Notes to the Financial Statements (** _**continued**_ **)** _For the year ended 31 March 2024_ ## **6 Other expenses** |Unrestricted
Funds
Accountancy
0
Bank charges
70
DETI
13
83|Restricted **Total Funds**
Total Funds
Funds
**2024**
2023
400
400
400
0
70
54
0
13
13
400
483
467| |---|---| ## **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 2023
Additions
Disposals
Balance at 31st March 2024
**Depreciation**
Balance at 31st March 2023
Disposals
Charge for year
Balance at 31st March 2024
Net Book Value at 31 March 2024
Net Book Value at 31 March 2023|**Building**
0
0
0|19,687
11,515
0
31,202
9,426
0
5,080
14,506
16,696
10,261
**Equipment**|**Total**
19,687
11,515
0| |---|---|---|---| ||0||31,202| ||0
0
0||9,426
0
5,080| ||0||14,506| ||0||16,696| ||0||10,261| **9** ## **The Drummond Centre Project Limited Company Limited by Guarantee Notes to the Financial Statements (** _**continued**_ **)** _For the year ended 31 March 2024_ |**9**
**Creditors : Amounts falling due within 1 year**
Accruals
**10 Analysis of charitable funds**
As at
01/04/23
Unrestricted Funds
27,480
Restricted Funds:
Groundwork Northern ESB
2,527
SSE Airtricity
3,927
Owenreagh Power
0
DAERA
1,730
Derry and Strabane District Council
0
Donemana & District Community Association
0
Rapid
400
Halifax Foundation NI
896
National Lottery Community Fund
9,580
Donations
481
47,021
**11 Analysis of net assets by fund**
Unrestricted
Funds
Tangible fixed assets
617
Net Current assets
26,527
27,144|Income
3,623
5,500
1,000
5,000
0
200
1,000
0
3,260
0
417
20,000
Restricted
Funds
16,079
648
16,727|| |---|---|---| |||| ## **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 2024_ |**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
Owenreagh Power
Generated funds:-
Entrance fees
Registration fees
Fundraising
Room Hire
Sundry 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
Leasing
Telephone
Sundry expenses
Depreciation
Other expenditure:-
Accountancy
Bank charges
DETI
**(Deficit)/Surplus on ordinary activities**|£
£
£
£
413
250
0
1,500
5,500
0
1,000
2,500
0
1,007
3,260
3,840
0
9,950
1,000
340
0
300
0
420
5,000
0
16,173
20,107
260
0
1,469
1,013
1,290
584
797
234
11
87
3,827
1,918
20,000
22,025
11,961
3,630
70
100
116
360
640
665
0
0
1,422
1,345
10
320
900
0
877
0
119
0
662
612
810
434
5,080
3,350
22,667
10,816
400
400
70
54
13
13
483
467
23,150
11,283
(3,150)
10,742
**2024**
**2023**|£
£
£
£
413
250
0
1,500
5,500
0
1,000
2,500
0
1,007
3,260
3,840
0
9,950
1,000
340
0
300
0
420
5,000
0
16,173
20,107
260
0
1,469
1,013
1,290
584
797
234
11
87
3,827
1,918
20,000
22,025
11,961
3,630
70
100
116
360
640
665
0
0
1,422
1,345
10
320
900
0
877
0
119
0
662
612
810
434
5,080
3,350
22,667
10,816
400
400
70
54
13
13
483
467
23,150
11,283
(3,150)
10,742
**2024**
**2023**| |---|---|---| |||20,107
0
1,013
584
234
87| |||1,918| |||22,025| |||11,283| |||10,742|