E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc Company tegistration number. N1042835 Charity registration number.. 106024 County Down Rural Community Network (A company limited by guarantee) Annual Report and Financaal Statements for the Year Ended 31 March 2024 KPS Chartered Accountants Chartered Tax Advisers Registered Auditors 35 Irish Street Downpatrick Co. Down BT30 6BW
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Contents Reference and Administrative Details Strategic Report 2to3 Trustees. Report 4t06 Independent Auditors, Report 7t010 Statement of Financi Activities Balance Sheet 12 Statement of Cash Flows 13 Notes to the Financi Statements 14to23
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Reference and Administrative Details Secretary Nicholas Mccrickard Charity Registration Number 106024 Company Registration Number N1042835 The chartty is incorporated in Northem Ireland. Office Unf(2 Ballymote Centre 40 Killough Road Downpatrick Co Down BT30 6PY Registered Office Auditor KPS Chartered Accountants Chartered Tax Advisers Registered Auditors 35 Irish Street Downpalrick Co. Down BT30 6BW Page 1
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Strategic Report for the Year Ended 31 March 2024 The trustees, who are directors for the PUTposes of company law. present their strategic report for the year ended 31 March 2024. in compliance with s414C of the Companies Act 2006. The Trustees have adopted the provisions of the Statement of Reix)mmended Practice ISORP), "Accounting and ReFK)rting by Charities" {FRS102), in preparing their annual report and finanryal statements. Achievements and performance The trustees of County Down Rutal Community Nelwotk ICDRCNI are pleased to report another extremely busy year across our area of benefft. Membership of the nerk reached an all lime high with close to 400 groups choosing to join the network. This is a reflection of the dedicated work of the staff team under the guidance of our manager and board of Trustees. As society in Northem Ireland acdimatised to the effects of BREXIT. the COVID Pandemic, collapse of Stormont and the cost of living crisis, civic souety and the community and voluntary sector in general, continued lo deliver a steady if cash-strapped suite of services and activtties. CDRCN played its part in these efforts and distributed a variety of hardship funds to the most vulnerable local peop and faulilaled a series of projects to WelMe and support hundreds of asylum seekers who sought refvge in our area from many troubled places around the world. CDRCN was delighted with the retum of the Stomionl Executive in February 2024 and looks forward to a stabilisalion of funding and clear leadership in a new Programme for Govemmenl which is expected by mid year. Despite the extra workload and increased annual tumover, largely due to the Government funds thannelled through CDRCN, the network faced rts biggest annual deficit Sin ils fomalion. The Trustees backed a plan to maintain as many of the staff team as possible in this leanest of years and use that capacity lo invest in developing new income streams. This approath appears to be paying off as post year end. the signs are positive for a recovery plan that is reducing the deficil. The network continued to deliver programmes of support to over 400 community groups under the generous and consistent support of DAERA 2nd the Public Health Agency. These main funders were supplemented by servi level agreements with Newry, Mourne & Down and Ards & North Down Councils and many other smaller funds and contracts. Our South East Mind Matters programme drew towards a close in this period with funds from Dept of Health via the Community Foundation for Nl and over 700 people received quick access therapies and social prescribing interventions which in tnany cases were vital in their individual mental health journeys. Micro Grants, which had been delivered annually for 8 years were not available in this year but DAERA are taking steps to ensure these much needed small capital grants are available in 202412025. The Trustees look forward to an improving financial position, but they acknovAedge that the financial outlook for Nl is directty affecting the fortunes of the netrrk. Financial review At the end of the financial year the Charity has assets of £429. (2023.. £540,65n and liabilities of £55,955 {2023.. £18,7461- The net assets of the Charity have decreased by £149,039. Page 2
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Strategic Report for the Year Ended 31 March 2024 Policy on reserves The trustees have examined the charit¥s requirements for reserves in light of the main risks to the organisation. It has established a K)olicy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be 4 months of annual budgeled expenditure. Budgeted expenditure for 2024125 is approximately £1.1m and therefore the target is £366,666 of general unrestricted funds. The reserves are required to meet not only the working capitsl requirements of the charity enabling the charity lo continue with future investments and also ensure that the tharity would be able lo cover the cost5 of winding up should the worst happen and the tharty need to dose. The actual reserves at 31 March 2024 amounted to £373,5 of which unrestricted reserves lolalled £332,349 which is slightly less than the target figure of £366.666 for unrestricted funds. In calculating reserves the nel book value of fixed assets held {£718) have been excluded. This met the largel policy largel of 4 months. The Directors are aware of the events occurring within the ffinancial year and wll continue to keep under constant review.11 remains the strategy of continuing to build reserves and appty reSoUrS to the charlS objectives and mission. The strategic report was approved by the trustees of the charity on 23 October 2024 and signed on ils behalf by.. A D Poots 2510cV2024 14."07".19 an David Poots Trustee DLCBaker 2510cV2024 14."22".31 David Lawrence Cole Baker Trustee Page 3
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Trustees. Report The trustees, who are directors for the purposes of company law. present the annual report together with the financial statements and auditors, report of the charitable compary for the year ended 31 March 2024. Objectives and activities Objects and aims Vision The vision of the Charity is of confident, cnnnected communities throughout County Down and South Amiagh. Mission The Charity's mission is to enable and motivate people to help themselves to enhan and improve lives. Strategic themes To achieve our vision and mission we have focused our work under four slrategic themes.. 1. Empowering, connecting and strengthening communities 2. Supporting and enabling a strong community voice 3. Providing services to our member5 4. Developing an adaptive and sustainable organisation Public benefit The direct benefits which flow from the purpose indudes increased levels of communty engagement,. increased access lo services, support. guidan, information and signposting., enhand ability lo participate in decision making on policies which affect tutal life," irnproved govemance in cornrnunity organisations., impioved access to funding., improved quality of lrfe for all inhabitants through direclty lackling issues that cause disadvantage and poverty within rural communities. These benefits are demonslraled through the number of community organisalions seeking support to implement a Nmde range of community activities and services,. the extent of dialogue and ¢(operatIOn belween different interest groups- the number of activities taking place wthin communities, the number of participants taking part in the activities, and regular and ongoing evaluation of programmes and activities. The purposes of our charity will not lead to any hami. The beneficiaries of the charity are the rural inhabitsnts living in the rural areas of County Down and its hintedand. A private benefit to trustees may arise from participating in activities. Trustees may gain skills and experien whith are transferable to other settings. These benefits are incidental and neSSary lo ensure the benefit is provided lo our beneficiaries. Page 4
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Trustees. Report Trustees and officers The trustees and officers serving during the year and Sin the year end were as follows.. Trustees: Nitholas John Moore Loretta Gribben Helen Margaret Coulter Alan David Poots Brian Jthn Graham Robin Eklred Holliday Kathy Graham am Devine Nicola Fitzsimons Patrick Killen Deborah Boden David LaWTen Cole Baker William Samuel Alexander Megraw Secretary.. Nicholas Mccrickard Structure, governance and management Nature of governing document County Down Rural Community Netsvork is a charity registered wth the Charity Commission for Northern Ireland and is also registered as a company limited by guarantee. Organisational structure The Charity is governed by a Board of 13 Trustees vtho administer the Nets¥ork and meet bi-monthly. Mr Nicholas Mccrickard is the manager and manages the charity on a day-t¢>day basis. ststernent of trustees. responsibilities The trustees (who are also the directors of County Down Rural Community NeOrk for the purposes of company law} are responsible for preparing the trustees. report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Finanual Reporting Standard applicab in the UK and Republic of Ireland" Company law requires the ttUStees to piepate financia statements for each ffinancial year. Under company law the trustees must not approve the financial statements unless they are satisfied Ihat they give a true and fair view of the stale of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charttable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting poliryes and apply Ihem consislenty. observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent-, state whether applicable accounting stsndards, comprising FRS 102 have tten followed. subject to any material deparlures disclosed and explained in the finanaal statements". and prepare the ffinancial statements on the going concem basis unless it is inappropriate lo presume that the charitable company will continue in business. Page 5
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Trustees. Report The trustees are responsible for keeping proper accounting records that can disclose wlh reasonable accuracy at any lime the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006 and Charrties Act (Northern Ireland) 2008. They are also responsible for safeguarding the assets of the charitsble MpanY and henct for taking reasonable steps for the prevention and detection of fraud and other irregulartties. The trustees are responsible for the maintenance and integrtty of the corporate and financial infomiation included on the charitable companvs websile. Legislation goveming the preparation and dissemination of financial statements may differ from legislation in other Jurisdictions. Disclosure of inforniation to auditor Each trustee has taken steps that they ought to have taken as a trustee in order to make themselves aware of any relevant audit infotmation and to establish that the chariws auditor 15 aware of that information. The trustees confimi that there is no relevant information that they know of and of which they know the audiloT is unaware. The annual report was approved by the trustees of the tharity on 23 October 2024 and signed on its behalf by.. A D Poots 2510cV2024 14..07'.19 Alan David Pools Trustee DLCBaker 2510cU2024 14.'22.'31 David Lawrence Cole Baker Trustee Page 6
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Independent Auditor's Report to the Members of County Down Rural Community Network Opinion We have audited the finanal statements of County Down Rural Community Network (the 'chariW} for the year ended 31 March 2024, which comprise the Stalement of Financial Activilies. Balance Sheet. Statement of Cash Flows, and Notes lo the Financial Statements, induding a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is United Kingdom Accounting Standards, comprising Charities SORP - FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. and applicable law (United Kingdom Generally Accepted Accounting Practice}. In our opinion the financial statements.. give a true and fair view of the state of the charitys affairs as at 31 March 2024 and of ils incoming reSoUrS and application of reSoUrs, including its income and expenditure. for the year then ended- have been propedy prepared in accordance with Unf(ed Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance wth the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordan with Intemational Standards on Auditing (UK} IISAS {UKII and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of Ihe tharity in accordance wth the ethical requirements that are relevant to our audit of the financial statements in the UK, induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibiltties in accordan th these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concem In auditing the financial statements, we have conduded that the trustees use of the going concem basis of accounting in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectivety. may cast significant doubl on the chariws ability to continue as a going COnM for a period of at least tsvelve months from when the original financial statements were authorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concem are described in the relevant sections of this report. Other infomiation The trustees are responsible for the other information. The olher irrfomiation comprises the infomiation included in the annual report, other than the finanual statements and our audilorfs report thereon. Our opinion on Ihe financial statements does not cover the other infomiation and, except lo the ex1ent otherwise explicitly staled in our report, we do not express any form of assurance condusion thereon. In connection with our audit of the finan21StateMentS, our tesponsibilty is to tead the other infottnation and, in doing so, consider whether the other infomiation is materially inconsistent wrth the financial statements or our knowledge obtained in the audit or olhewse appears to be materialty misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to detemiine whether there is a material misstatement in the financial statements or a material misslalement of the other information. If, based on the work we have performed, we condude that there is a material misslalement of this other infomiation, we are required to report that fact. We have nothing to report in this regard. Page 7
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Independent Auditor's Report to the Members of County Down Rural Community Network Opinion on other matter prescribed by the Companies Act 2006 In our opinion, based on the WOTk undertaken in the course of the audit= the infomialion given in the Strategic Report and Trustees, Report for the financial year ft)r which the financial statements are prepared is consistent wth the finanual statements., and the Strategic Report and Trustees. Report have been prepared in accordan wth applicable legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charity and ils environment oblained in the course of the audit, we have not identified material misstalements in the Slrategic Report and the Trustees, Report. We have nothing lo report in respect of the following matters where the Companies Act 20CE requires us to report to you if, in our opinion.. adequate accounting records have not been kept. or retums adequate for our audit have not been received from branches not Vistied by us., or the financial statements are not in agreement wth the a(xounting records and retums., or certain disclosures of truslees remuneration specified by law are not made- or we have not received all the inforrnation and explanations we require for our audrt. Responsibilities of trustees As explained more fully in the Statement of trustees. responsibillties (sel out on page 5 and 6), the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such intemal control as the trustees detemine is necessary to enable the preparation of financial statements that are free from Materi misstatement. whether due lo fraud or error. In preparing the financial statements: the trustees are responsible for assessing the charitls ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concem basis of accounting unless the trustees either intend to liquidate the tharity or to 8$e operations. or have no realistic alternative but to do so. Auditor responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assuran about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordan with ISAS IUKI will aayS deted a material misslalement when it exists. Misslatemenls can arise from fraud or error and are considered material rf, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. The extent lo which our procedures are capable of detecting itregularities, including fraud is detailed below.. Irregularities, including fraud are instances of non-compliance wtlh laws and regulations. We design procedures in line with our responsibilities, outlined above, to delect material misslalements in respect of irregularities, including fraud. In identifying and assessing the risks of material misstatement in respecl of Iegular1tie$, including fraud and non-compliance with laws and regulations. we considered the followng- the nature of the industry, control environment and business performan the results of our enquiries of management about their own identification of the rtsk of irregularities any matters we identified having obtained and reviewed the chartty's documentation of their policies and procedures., and Page 8
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Independent Auditor's Report to the Members of County Down Rural Community Network the matters discussed among the audit engagement team regarding how and Ithere fraud might occur in the financial statements and any potential indicators of fraud. We also discussed the potential for non4ompliance th laws and regulations. We focused on laws and regulations that could give rise lo a potential material misstatement in the financial statements. Our tests induded, but were not limited lo.. Agreement of the finanryal statement disclosures to undedying supporting documentation In response lo the nsk of management override of controls. identifying and testing joumal entries and other adjustments, in particular any unusual account combinations and joumals posted by unexpected users- Evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business., Making enquiries of managernenl as to where they considered there was suSpIlbiIty to fraud, knowledge of actual, suspected and alleged frauds., Considering the inlemal controls in pla to mitigate the risk of fraud and non-compliance with laws and regulations", and Challenging assumptions and judgements made by management in their signifficant accounting estimates and judgements. Because of the inherent limitations of an audit. there is a risk that we will not deteca all irregularities, including those leading lo a material misstatement in the finanual statements or noTrcomplIan with regulations. The risk increases the more that Complian with a law or regulalion is removed from the events and transactions reflected in the financial slalements, as we Nwll be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularrties occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission and misrepresentation. As part of an audit in accordance with ISAS (UK), we exerase prolessional judgement and maintain professional sceptiasm throughout the audit. We also-. Identify and assess the risks of materid mi55tatement of the finanaal statements, whether due to fraud or error, design and perfomi audit procedures responsive to Ihose risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresenlab'ons. or Ihe override of intemal control. Obtain an understanding of intemal control relevant lo the audit in order lo design audit prOdureS that are appropriate in the Circumstan$, but not for the purpose of expressing an opinion on the effectiveness of ihe chartiy s intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disdosures made by the Iruslees. Conclude on the appropriateness of the trustees use of the going cOnM basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitys abilty to continue as a going concem. If we conclude that a material uncettainty exists, we are reqLJiied lo draw attention in our audttorfs repott to the related disclosures in the financial statements or, rf such disdosures are inadequate, to modify our opinion. Our condusions are based on the audit evidence obtained up to the date of our auditorfs report. However, future events or conditions may cause the charity to cease to continue as a going concem. Evaluate the overall piesentation, structure and content of the finanaal statements, including the disclosures, and whether the financial statements represent the undertying transactions and events in a manner that achieves fair presentation. We communicate with those charged wth govemance regarding. among other matters. the planned scope and timing of the audit and signfficant audit findings, including any signtficanl defienCieS in internal control that we identify during our audit. Page 9
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Independent Auditor's Report to the Members of County Down Rural Community Network Use of our report This report is made solely to the charitable cornpanls trustees, as a btKly, in a(rordantE with Chapter 3 of Part 18 of the Companie5 Act 2006. Our audtt work has been undertaken so that we might slate lo the chariws trustees those matters we are required to stale to them in an audilorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its trustee5 as a b¢)dy. for our audrt work, for this report. or for the opinions we have fomied. K Smyth 3110ct12024 08."46".17 Kyran Smyth (Senior Stslutory Auditor) For and on behalf of KPS Chartered Accountants. Statutory Auditor Charteied Tax Advisers Registered Auditors 35 Irish Street Downpatrick Co. Down BT30 6BW 23 October 2024 Page 10
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Statement of Financial Activities for the Year Ended 31 March 2024 {Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2024 Note Income and Endowments frorn: Charitable aclivilies Investment income Other income 1.124.966 1,124,966 3,055 82,647 3,055 81.367 1,280 Total income 84.422 1,126,246 1,210,668 Expenditure on: Charitable activities {165,3211 {1,194.3861 {1,359,7071 Total expenditure (165.3211 {1.194.3861 {1,359,7071 Net expendtiure Transfers between fvnds {80:899) 37,247 (68,1401 37,247 {149,0391 14 Net movement in fvnds (43.652} (105,38n {149,039) Reconciliation of funds Total funds brought forward 376.001 146,628 522,629 Total funds carried forvrdtd 14 332.349 41,241 373,590 Unrestricted funds Restricted funds Total 2023 Note Income and Endowments from: Charitable activities Investment income Other income 1.049.861 1,049,861 1,358 58.618 1,358 58,618 Total income 59.976 1.049,861 1,109,837 Expenditure on: Charitable activities (88.1261 (1.052,2661 {1,140,392) Total expenditure 88.126 1,052,266 1,140,392 Net expenditure 28.150 2,405 30,555 Net movement in funds {28:150) (2,4051 (30,5551 Reconciliation of funds Totsl funds brought forward 404,151 149,033 553,184 Total fvnds carried forward 14 376,001 146,628 522,629 All of the charity's activities deTive from continuing operations during the above Iwo periods. The funds breakdown for 2023 is shown in note 14. The notes on pages 14 to 23 fom) an integr81 part of these financial statements. Page 11
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network (Registration number: N1042835) Balance Sheet as at 31 March 2024 2024 2023 Note Fixed assets Tangible assets 10 449 718 Current assets Debtors Cash at bank and in hand 11 12 181,412 247,684 99,498 441,159 429.096 540,657 Creditors: Amounts falling due within one year 13 55,955 18.746 Net current assets 373.141 521,911 Net assets 373,590 522,629 Funds of the charity: Restricted income funds Restricted Funds 41,241 146,628 Unrestricted income funds Unrestricted Funds 332,349 376,001 Total funds 14 373,590 522,629 The financial statements on pages 11 to 23 vRre approved by the trustees, and authorised for issue on 23 October 2024 and signed on their behalf by: ADPoots 2510ct12024 14.'07'.19 Alan David Poots Trustee DLCBaker 2510cU2024 14..22..31 David Lawrence Cole Baker Trustee The notes on pages 14 to 23 fom) an integr81 part of these financial statements. Page 12
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Statement of Cash Flows for the Year Ended 31 March 2024 2024 2023 Note Cash flovts from operating activities Net cash expenditure (149,039) {30,555) Adjustments to cash flows from non-cash items Depreciation Investment income 269 3,055 269 1.358 (151,825) {31,644) Working capital adjusknents {Increaselldecrease in debtors Increasel{decrease) in creditors 11 13 (81,914) 37,209 71,182 102,039 Net cash flows from operating activities (1,530) {62,5011 Cash flovts from investing activities Interest receivable and similar income 3,055 1,358 Net deease in cash and cash equivalents (193,475) {61,1431 Cash and cash equivalents at 1 April 441.159 502,302 Cash and cash equivalents at 31 March 247,684 441,159 All of the cash flows are detived from Ix)ntinuing operations during the above two periods. The notes on pages 14 to 23 fom) an integr81 part of these financial statements. Page 13
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Notes to the Financial Statements for the Year Ended 31 March 2024 1 Charity status The charity is limited by guarantee. incorporated in Northem Ireland, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £Nil towards the assets of the charity in the event of liquidation. The address of its iegistered Offi is-. Office Unit 2 Ballymote Centre 40 Killough Road Downpatrick Co Down BT30 6PY These fInana statements were authorised for issue by the trustees on 23 October 2024. 2 Accounting policies Sumrnary ofsignificant accounting policie5 and key accounting estimates The principal accounting poliues applied in the preparation of these finanaal statements are set out below. These policies have been consistenty applied to all the years presented, unless otherwise stsled. Statement of compliance The financial slalemenls have been prepared in accordan wth Accounting and Reporting by Charities.. statement of Recommended Practice (applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211 (issued in October 20191- {Charilies SORP IFRS 10211. the Finanuai Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) and the Companies Act 2006. Basis of preparation County Down Rural Communty Nerk meets the definition of a public benefft entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwse stated in the relevant accounting policy notes. Going concern The Itustees consider that there are no material uncettaintie5 about the charity's abilty to continue as a going concem nor any significant areas of UnrtaInty that affect the carrying value of assets held by the charity. Judgements Estimates and judgements made in the process of preparing the financial statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Trustees do not consider that there are any critical judgements made in applying these charity accounting poliaes or that there are any critical accounting estimates or assumptions which may have a significant risk of causing a material adjustment to carrying amounts of assets and liabilities within the next finan(ial year. Page 14
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Notes to the Financial Statements for the Year Ended 31 March 2024 Income and endowments All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income wll be received and the amount can be measured reliabty- Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, il is probable settlement is required and the amount can be measured reliably. All costs are allocated lo the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent wlh the use of resour$. with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Other support costs are allacated based on the spread of staff costs. Charitable activities Charitable expenditure comprises those costs incurred by the dlarity in the delivery of ils activrties and services for its benefiryaries. It indudes both costs Ihat can be allocated directly to suth activities and those costs of an indirect nature necessary to support them. Support costs Support costs are those that assist the work of the charity but do nol directly represent charitable activities and include Offi costs, governan costs, adminislralive payroll costs. They are incurred directly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed lo particular headings they have been allocated to cost of raising funds and expenditure on charitable activsties on a basis consistent with use of the resources. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finan Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respecl of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the exlenl that suth income or gains are applied exdusively to Charitab purposes. Tangible fixed assets Tangible fixed assets are staled at cost (or deemed cost) or valuation less accumulaled depreciation and accumulated impaimient losses. Cost includes costs diredy attributable to making Ihe asset capable of operating as intended. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to wrile off the cost or valuation. less any estimated residual value, over their expected useful economic life as follows.. Asset class Plant and machinery Fixiures and fittings Depreciation method and rate 15Q/o straight line 150 straight line Page 15
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Notes to the Financial Statements for the Year Ended 31 March 2024 Trade debtors Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initialty at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impaimient. A provision for the impairment of Irade debtors is established when there is objective eviden that the charity will not be able to collect all amounts due according lo the original terms of the re1vable$. Cash and cash equivalents Cash and cash equivalellt5 comprise cash on hand and call dep05r15, and other short-teTtn highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are dassified as current liabilits'es if the tharity does not have an unconditional right, al the end of the reporting period. lo defer selllement of the creditor for al least e1ve months after the reporling date. If there is an unconditional rigm to defer settlement for at least twelve months after the reporting date, they are piesented as non-current liabilities. Trade creditors are recognised initialty at the transaction pri and subsequenty measured at amortised cost using the effective interest method. Fund structure Unrestricted incorne funds are general fvnds that are available for use at the trustees discretion in furtherance of the objectives of the charity. Restricted income funds are those donated for use in a particular area or for specthc purposes, the use of which is restricted to that area or purpose. Pensions and other post retirement obligations The Charity operates a defined contribution pension scheme. Contributions payable to the pension scheme are charged to the Slalemenl of Financial Activities in the period to whith they relate. Page 16
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Notes to the Financial Statements for the Year Ended 31 March 2024 3 Income from charitable activities Restricted funds Total 2024 DAERA- Newry, Moume & Down DAERA - Lisburn, Casllereagh & North Down Public Health Agency IDFC Neighbourhocxj Renewal) Public Health Agency (Community Health Development) Newry, Moume & Down District Council Ards & North Down District Council DAERA- Social Prescribing SEHSCT {Mulli Disciplinary Team) Community Development Heatth Netsvork Community Foundation Nl Health Living Centre Alliance Confederation of Community Groups Choice Housing Association Clanmil Housing Association PHA- Clear Project DFC Capttal Grants ANDBC Hardship Fund The Heart Project- Better Days Pain Management Clanrye Group SEHSCT MDT Department of Foreign Affairs.. Shared Island Civic Sou"ety Fund Other funds 168,515 65,058 25,000 283,041 194,474 10,000 8,644 2.850 16,600 202.259 2,000 24,854 4,000 7.540 5,000 20,903 19,531 3,900 17,424 17,880 22,542 22,951 168,515 65,058 25,000 263,041 194,474 10,000 8,644 2,850 16,600 202,259 2,000 24,854 4,000 7,540 5,000 20,903 19,531 3,900 17,424 17,880 22,542 22,951 1.124,966 Restricted funds 1,124,966 Total 2023 DAERA- Newry, Moume & Down DAERA- Lisburn, Ca5tlereagh & North Down Public Health Agency IDFC Neighbourhood Renewal) Public Health Agency (Community Health Development) Newry, Moume & Down District Council Ards & North Down Dislrid Counal Big Lottery- Social Prescribing DAERA- Social Prescribing SEHSCT {Multi Disciplinary Team) Community Development Health Netsvork Community Foundation Nl Big Lottery- People & Communities DAERA- Micro Capital Grant Scheme Health Living Centre Alliance Confederation of Community Groups Choice Housing Association 168,515 65,059 28,999 255,789 137,337 12,933 23,567 20,383 60,135 8,400 133.849 86,379 14,424 5.500 7,500 2,000 168,515 65,059 28,999 255,789 137,337 12,933 23,567 20,383 60,135 8,400 133,849 86,379 14,424 5,500 7,500 2,000 Page 17
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Notes to the Financial Statements for the Year Ended 31 March 2024 Restricted funds Total 2023 Clanmil Housing Association PHA- Clear Project DFC Capital Grants 8,092 4,999 6,001 8,092 4,999 6,001 1,049,861 1,049,861 4 Investment income Unrestricted funds General Total 2024 Deposit account interest 3,055 3,055 3,055 3,055 Unrestricted funds General Total 2023 Deposit account interest 1,358 1,358 1,358 1,358 5 Expenditure on charitable activities Unrestricted funds General Restricted funds Totsl 2024 Total 2023 Allocated support costs Direct costs 5,365 159,9 82,772 1,111,614 88,137 1,271,570 59,222 1,081,170 165,321 1.194.386 1.359,707 1,140,392 Page 18
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Notes to the Financial Statements for the Year Ended 31 March 2024 6 Analysis of support costs Charitable activities expenditure Unrestricted funds General Restricted funds Total 2024 Total 2023 Management Finan Other Govemance 78.746 570 78,746 662 269 8,460 54,309 570 269 4,074 269 3.456 82.772 88,137 59,222 7 Net incomingloutgoing resources Net outgoing resources for the year include-. 2024 2023 Audit fees Depreciation of fixed assets 8.460 269 4,073 269 8 Trustees remuneration and expenses No trustees, nor any persons connected wth them. have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses the charity during the year. 9 Stsff Gosts The aggregate payroll costs were as follows: 2024 2023 Staff costs during the year were: Wages and salaries Social security costs Pension costs 493,478 46,504 55,501 497,009 44,403 54,333 595.483 595,745 Page 19
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Notes to the Financial Statements for the Year Ended 31 March 2024 The monthly average number of persons (including senior management I leadership team) employed by the charity during the year expressed as full time equivalents was as follows.. 2024 No 2023 No Total number of staff 17 18 The number of employees whose emoluments fell within the following bands was: 2024 No 2023 No £60,001- £70,OC4) 10 Tangible fixed assets Fixtures and fittings Plant and machinery Total Cost At 1 April 2023 78,034 1,794 79,828 At 31 March 2024 78,034 1,794 79,828 Depreciation At 1 April 2023 Charge for the year 78.034 1,076 269 79,110 269 At 31 March 2024 78,034 1,345 79,379 Net book value At 31 March 2024 449 449 At 31 March 2023 718 718 11 Debtor5 2024 2023 Trade debtors Accrued income other debtors 167,517 13,475 420 99,316 182 181,412 99.498 12 Cash and cash equivalents 2024 2023 Cash at bank 247,684 441,159 Page 20
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Notes to the Financial Statements for the Year Ended 31 March 2024 13 Creditors: amounts falling due within one year 2024 2023 Trade creditors Other creditors Accruals 48,882 4,073 3,000 15,089 657 3,000 55,955 18,746 14 Funds Balance at 31 March 2024 Balance at 1 April 2023 Incoming resources Resources expended Transfers Unrestricted funds General General 376,001 84.422 (165,321} 37.247 332,349 Restricted fijnds ANDBC Hardship Fund Ards & North Down Borough Council The Heart Project- Better Days Pain Management Big Lottery Confederation of Communty Groups Community Development Health NeOrk Community Foundation Nl Choice Housing Association Clanmill Housing Association Clanrye Group PHA- Clear Project DAERA- Lisburn, Casllereagh & North Down DAERA Newry, Moume & Down DAERA Social Prescribing DFC Capital Grants Healthy Living Centre Allian SEHSCT MDT Newry, Moume & Down District Council People & Communities SEHSCT {Mulli Disciplinary Team) 19.531 (19.190> 341 2.699 10,0 (11.913} 786 (3.900) (2.366) (3001 24.854 (24,854} 16.6CM) 202.259 {7.000) (239,7251 {3.550) {8.490) (17.4241 (4.993) 9,600 37. 450 3,508 4.458 17.424 (71 3.328 65.058 (68.038} 348 {1.994) (160) 168,515 (155.4491 {7.857) (14.9341 11,072 16271 (5,9701 20.903 (1) 2,000 17.897 17.880 (8.875) (26,9021 9.456 68.089 194.474 (195.9281 (67,374} (7,0001 (7151 1,002 2.850 (2.982) 1132) Page 21
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Notes to the Financial Statements for the Year Ended 31 March 2024 Balance at 31 March 2024 Balance at 1 April 2023 Incoming resources Resources expended Transfers other funds Public Health Agency IDFC Neighbourhood Renewal) Department of Foreign Affairs.. Shared Island Civic Society Fund Public Health Agency (Community Heatth Development) 23.651 (14.10n 9,544 2.723 25.0 (25.000} 2,723 23.122 (27,396> 4,274 263,041 (263,0411 Total restricted funds 146,628 1,126,246 (1.194,386) (37,2471 41.241 Total funds 522,629 1,210.6S8 {1,359,70n 373,590 1 S Analysis of net assets between funds Unrestricted funds General Total funds at 31 March 2024 Restricted funds Tangible fixed assets Current assets Current liabilities 449 334,9 3.000 449 429,096 55.955 94,196 52,955 Total net assets 332,349 41,241 373,590 Unrestricted funds General Totsl funds at 31 March 2023 Restricted funds Tangible fixed assets Current assets Current liabilities 718 391,874 16,590 718 540,657 18.746 148,783 2,156 Total net assets 376,002 146,627 522,629 16 Analysis of net funds At 31 March 2024 At 1 April 2023 Cash flows Cash at bank and in hand 441,159 193,474 247,685 Net debt 441.159 1193,474 Financing cash flows 247,685 At 31 March 2023 At 1 April 2022 Cash at bank and in hand 502.302 61,143 441,159 Net debt 502,302 61,143 441,159 Page 22
E-sign ID: 90799ec3-b7e1481f-989&59974cOfdOfc County Down Rural Community Network Notes to the Financial Statements for the Year Ended 31 March 2024 17 Related party transactions There were no related party transactions in the year. Page 23