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
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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 ne￿rk 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 Wel￿Me 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 netr￿rk.
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.
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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 reSoUr￿S to the charl￿S 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
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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., enhan￿d 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 ne￿SSary lo ensure the benefit is provided lo our beneficiaries.
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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 Ne￿Ork 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.
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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
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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 finan￿al 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 reSoUr￿S
and application of reSoUr￿s, 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
COn￿M 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 finan￿21StateMentS, 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.
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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$e operations. or have no realistic
alternative but to do so.
Auditor responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free
from material misstatement, whether due to fraud or error. and to issue an auditor's report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in
accordan￿ with ISAS IUKI will a￿ayS deted a material misslalement when it exists. Misslatemenls can arise
from fraud or error and are considered material rf, individually or in the aggregate. they could reasonably be
expected to influence the economic decisions of users taken on the basis of these financial statements.
The extent lo which our procedures are capable of detecting itregularities, including fraud is detailed below..
Irregularities, including fraud are instances of non-compliance wtlh laws and regulations. We design procedures
in line with our responsibilities, outlined above, to delect material misslalements in respect of irregularities,
including fraud.
In identifying and assessing the risks of material misstatement in respecl of I￿egular1tie$, 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
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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 suS￿pIlbiIty 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 prO￿dureS 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 cOn￿M 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 defi￿enCieS in internal control that we
identify during our audit.
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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
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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.
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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.
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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 de￿ease 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.
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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 Ne￿rk 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 Un￿rtaInty 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.
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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
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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 re￿1vable$.
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.
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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
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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
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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
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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
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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 Ne￿Ork
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)
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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