REGISTERED COMPANY NUMBER: N10434651Northern Irelandl REGISTERED CHARITY NUMBER: 106092 Re rt of the Trustees and ed Financial Slateme r the Year Ended 31 March 2024 for Dennett Interchan
Dennett Interchan Contents of the Financial Statements for the Year Ended 31 March 2024 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities 6 to 7 Balan Sheet Notes to the Financial Statements 10 to 16 Detailed Statement of Financial Activilies 17 to 19
Dennett Intercha Re ort of the Trustees he Year Ended 31 Mar 2024 The Irustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommanded Practice applicable to charities preparing their accounls in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Dennett Interchange was established to advance education. including vocational training, relieve poverty, relieve the elderly, to conserve and protect the local environment and to provide facilities in the interests of social welfare for recreation or leisure-time occupation with the object of improving the conditions of lrfe for all the inhabitants of Derry cty and Strabane District Council, Fernianagh and Omagh Dislrict Council, and Causeway Coast and Glens Borough Council areas without distinction of gender, raGe or of political, religious or other opinions. Significant actlvlties During the year Dennett Interchange continued to provide a range of courses and training to advance education. We organised accredited courses in child protection and first aid. We also organised a range of social & recreational activrties including flower arranging and yoga. We cwrdinated in partnership with other statutory organisations & groups a range of ServIS aimed at relieving poverty and improving the social welfare which includes outreach citizens advice service, respite for carers, podiatry service and hearing aid clinic. Our Meals on Wheels service continues to run 7 days a week and the onsite cafe is open 6 days a week and we continue to encourage and support attendan at the Luncheon Club. The CARE Project enables us to continue working with other organi5ations from Park, Artigarvan and Ballymagorry to offer a range of services and activities for the over 55s. This year we also offered the Sperrin Healthy Families Project funded by the Social Supemiarket Fund providing resources and a series of workshops for families in the region focusing on growing your own produce along with cookery workshops to prepare wholesome family meals using home grown produce. Publlc benefit During the year the charty continued to operate its Meals on Wheels service, Luncheon Club, respite for carers servi, numerous social arbd recreational activities including football coaching, boxing, yoga, arm chair aerobics, afternoon tea dances and history sessions.The CARE Project offered weekly activities for the over 55's and the annual Summer SGheme offered a variety of actNities for the local children. Page 1
Dennett Interchan rt of the Trustees for the Year Ended 31 March 2024 ACHIEVEMENT AND PERFORMANCE Charitable activities The year ended 31 March 2024 saw the continualion of our programmes due to continued grant income received from our funders. The charity considers the ongoing demand and high uptake of its key outreach programmes such as Meals on Vvheels as an achievement. The charity continued to work towards its objects of promoting education, relieving the elderty and providing improvements in social welfare through various activities designed to assist those in the community. The Gharity was able to On again offer a summer scheme during the year. The ongoing CARE project has enabled us to offer a range of varied activ¥ties and seNices for the over 55s and this project continues to be very popular and well supported. FINANCIAL REVIEW Financial position The trustees are satisfied with the performance of the charity during the year to 31 March 2024. Overall the charity recorded a deficit of £3,322 (2023: £4,623 defiGit). The Balance Sheet totals £162,181 (2023 £165,503}. The charity continued to secure funding for its prograrnmes as well as funding for new programmes such as the Social Supermarket Fund. Reserves policy At the end of the financial year lo 31 March 2024, the reserves held by the charity amounted to £162,181 (2023 £165,503). Dennett Interchange has accumulated a surplus of funds since its inception. Some estimated expenditure exeded actual expenditure resulting in surplus funds. These reserves provide some security that the charity will continue to fvnction short term, ff available funding declines in the future.The reserves also provide financial support if ary fixed assets require replacement for Dennett Interchange to conlinue to offer their current level of services. Dennett Interchange has not specifically defined the level of reserves to be held. either as a minimum or maximum but all surplus funds are reinvested baGk into the charity and are held as described above for future projects and for the future life of the charity. Going concern With funding continuing to be difficult to secure. the charity is working hard to identify replacement funding. As mentioned new funding sources have been secured with more being sought in the weeks and months ahead. Steps are also being taken to reduce costs within Ihe chaiity. It is noted that reserves remain at a healthy level. The trustees are not aware of any material COnmS about the charity's abiltty to continue as a going concem. Funds in deficit The board of trustees is satisfied that the charity's assets in each fund are available and adequate to fu1 its obligations in respect of each fund. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee. as defined by the Companies Act 2006. Page 2
Dennett Interchan Re ort of the Trustees for th Year Ended 31 March 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Recruitment and appolntment of new trustees New trustees are identffied through word of mouth. They com8 from the local community so very often are well known to existing members or trustees of the charity. Potential trustees are screened and appointed by a panel comprising existing trustees including the Chairperson. An active recruitment process is not undertaken as the charity is completely community-driven with its members and trustees all being from the Derry & Strabane District Council area. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1043465 (Northern Ireland) Registered Charity number 106092 Reglstered office Amity House 1 Brook Road Donemana Strabane Co. Tyione BT82 OPF Trustees Ms Amanda Joyce Buchanan Robert James Leslie Craig Damien Paul Devine Archibald Thomas Fullerton Ms Christine FuOn Robert Elkin Robinson Company Secretsry Ms Christine Fulton This pOrt has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by ordeT of the board of trustees on 5 December 2024 and signed on its behalf by: Robert James Le Craig - Trustee Page 3
Inde endent Examine¢s Re Dennett Interch I report on the accounts of the company for the year ended 31 March 2024. which are sel out on pages six to sixteen. ort to the Trustees of Respective responslbilities of charlty trustees and examiner As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordan with the requirements of Ihe Companies Act 2006. Having satisfied myself that the charty is not subject to audit under Cx)mpany law and is eligible for independent examination, it is my responsibilty to: examine the accounts under Seclion 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65{9)(b) of the Charities Act state whether particular matters have come to my attentron. Basis of the independent examlner's report I have examined your charty accounts as required under Section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees conceming any such matters. My role is to stste whether any material matters have corne to my attention giving me cause to believe: That accounting records were not kepl in accordance with Section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Chafilies Statement of Recommended Practice applicable to charities preparing their accounts in accordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland That there is further infom*ion needed for a proper understanding of the accounts to be reached. Independent examiner's ststement I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and. in connection with following the Directions of the Charty Commission for Northern Ireland, I have found no matters that require drawing to your attention. Rory P Gormley The Institute of Financial Accountants Date: ..... 1/4z- Z.t.................. Page 4
Dennett Interchan Statement of Financial Activities for ihe Year Ended 31 March 2024 31.3.24 Totsl funds 31.3.23 Total funds Unrestricted Restricted fund fund Notes INCOME AND ENDolENTs FROM Donations and18gacies 4,105 300 4.405 1,371 Charitable activitles Meals on Wheels Care Project Community Centre Venue Fund Micro Grants Pilot Consensual Community Support Fund Good Relations PCSP Summer Wellbeing Social Supermathet Adrninistrator wages NIHE Shared Summer 38,286 3,000 49,780 14,400 41,286 49.780 14,400 56.908 56,556 9.790 724 15,000 1,000 800 9,137 3,200 700 3,200 700 12.952 5,900 4,720 12,952 5.900 4,720 Other trading activities Investment income Total 11.742 7,438 61,571 2,127 13,869 7,438 158,650 6,975 7,214 165,475 97,079 EXPENDITURE ON Charitable activitie5 Meals on Wheels Care Project Community Centre Venue Fund Micro Grants Pilot Consensual Community Support Fund Good Relations PCSP Summer Wellbeing Social Supermarket Administrator wages NIHE Shared Summer 38,808 1,135 6,871 38.808 41,696 19,126 49,193 42,333 3,773 551 13,500 13,375 40,561 12.255 750 4.328 741 5,078 741 9,108 11,783 5,900 4,720 11,783 5,900 4.720 Other Total 22.020 69,584 12.100 92,388 34,120 161,972 38,265 170,098 NET INCOMEI{EXPENDITURE) (8,013) 4,691 (3,322) (4,623) The notes form part of these financial statements Page 6
Dennett Interchan Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted fund fvnd Notes RECONCILIATION OF FUNDS Total funds brought ft)rward 14,050 151,453 165,503 170,126 TOTAL FUNDS CARRIED FORWARD 6.037 156.144 162,181 165,503 The notes form part of these financial statements Page 7
nnett Interchan Balance Sheet 31 March 2024 31.3.24 Total funds 31.3.23 Total funds Unrestricted Restricted fund fvnd Notes FIXED ASSETS Tangible assets 83,974 83.974 88,991 CURRENT ASSETS Debtors Prepayments and accrued income Cash at bank 11,360 787 74.614 86.761 11,360 787 80,651 92,798 17,021 730 69,074 86,825 6,037 6,037 CREDITORS Amounts falling due within one year (14,591) {14.591) (10,313) NET CURRENT ASSETS 76,512 TOTAL ASSETS LESS CURRENT LIABILITIES 6,037 156,144 162,181 165,503 NET ASSETS FUNDS Unrestricted funds Restricted funds TOTAL FUNDS 6.037 156,144 162,181 165,503 10 6,037 156,144 162,181 14.050 151.453 165.503 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company to oblain an audit of its financial statements for the year ended 31 March 2024 in accordan with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibililies for (a) ensuring that the charitable company kpS accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a Irue and fair view of the state of affairs of the Gharitable company as at Ihe end of each financial year and of rts surplus or defiGit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable to Ihe charitable company. The notes form part of these financial statements Page 8 continued...
Dennett Interchan Balance Sheet- continued 31 March 2024 These financial ststements have been prepared in accordan with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 5 Decem 2024 and were signed on tts behalf by: Robert James Leslie Craig - Trustee The notes fomi part of these financial stalements Page 9
Dennett Interchan Notes to the Financial Statements e Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities." Statement of Recornrnended Practi applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 The Financial Reporting Stsndard applicable in the UK arld Republic of Ireland, and the Companies Act 2006. The financial statements have been pfepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement lo the funds, it is probable that the income will be received and the amount can be measured reliabty. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it is probable that a transfer of economic benefrts will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the Gategory. Imiere costs cannot be directly attributed to particular headings Ihey have been allocated to aGtivrties on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the fdlowing annual rates in (xder to write off each asset over its estimated useful life. Taxation The charty is exempt from corporalion tax on its charitable activities. Fund accountlng Unrestrtcted funds can be used in accordan with Ihe charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted pU)SeS wtthin the objects of the charity. Re5triGtions arise when specified by the donor 01 when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial ststements. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension stheme are charged to the Slalement of Finanaal Activities in the period to which they relate. Page 10 continued...
Dennett Interchan Not the Financial Statement - continued for th Year En 31 March 2024 OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Fundraising events Cafe l Luncheon Club Contributions to costs Occasional income 3.773 2.127 7,355 614 13,869 2,486 820 3.434 235 6,975 INVESTMENT INCOME 31.3.24 31.3.23 Rents received DeposÉt account interest 7,200 238 7,438 7,200 14 7,214 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting): 31,3.24 31.3.23 Depreciation - owned assets 5,017 5,376 TRUSTEES. REMUNERATION AND BENEFITS There were no truslees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. Page 11 continued...
Dennett Interchan Notes to the Financial Statements - continued fof the Year Ended 31 March 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restrlcted fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 1,371 1,371 Charitable actlvltles Meals on Wheels Care Project CommuniEy Centre Venue Fund Micro Grants Pilot Consensual Community Support Fund Good Relations PCSP Summer Wellbeing 53,908 3,000 56,556 9,790 724 15,000 1,000 800 9.137 56,908 56,556 9,790 724 15,000 1,000 800 9,137 Other trading activities Investment income Total 6,155 7.214 68,648 820 6,975 7,214 165,475 96,827 EXPENDITURE ON Charitable activities Meals on Vlheels Care Project Community Centre Venue Fund Micro Grants Pilot Consensual Communty Support Fund PCSP Summer Wellbeing 48,476 717 42,333 3,773 551 13,500 12,289 9,108 49,193 42,333 3,773 551 13.500 13,375 9.108 1,086 Other Total 17,091 66,653 21,174 103,445 38,265 170,098 NET INCOMEI(EXPENDITURE) 1.995 (6,618) (4,623) RECONCILIATION OF FUNDS Total funds brought forwsrd 12.055 158.071 170.126 TOTAL FUNDS CARRIED FORWARD 14,050 151.453 165,503 Page 12 continued...
Dennett Interchan otes to the Financial Statements - continued for the Year Ended 31 March 2024 TANGIBLE FIXED ASSETS Fixtures and frttings Freehold property Plant and machinery Computer equipment Totals COST At 1 April 2023 and 31 March 2024 DEPRECIATION At 1 April 2023 Charge for year At 31 March 2024 NET BOOK VALUE Al 31 March 2024 At 31 March 2023 109,823 84,028 215 263 38,404 2,196 40,600 1,787 311 2.098 68,529 2,510 71,039 17,552 126,272 5,017 131,289 17,552 69,223 71,419 1.762 2,073 12.989 15.499 83,974 88,991 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade debtors Other debtors 2,150 9,210 11,360 2,775 14,246 17,021 Page13 continued...
Dennett Interchan Notes to the Financial Statements - continued for the Year Ended 31 March 2 24 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade creditors Social security and other taxes Accrued expenses 9,922 1.069 7,028 285 3.000 10.313 14.591 10. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 14,050 (8,013) 6,037 Re¥triGted fund¥ Restricted Fund 151.453 4,691 156,144 TOTAL FUNDS 165,503 3,322) 162,181 Net movement in funds, included in the above are as follows: Incoming resour5 Resources Movement expended in funds Unrestricted funds General fund 61.571 (69,584) (8,013) Restricted funds Restricted Fund 97,079 (92,388) 4,691 TOTAL FUNDS 158,650 161,972) 3,322) Page 14 continued,.,
Dennett Interchan Notes to the Financial S ements - continued for the Year Ended 31 March 2024 10. MOVEMENT IN FUNDS - contlnued. Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted funds General fund 12,055 1,995 14,050 Restrlcted funds Restricted Fund 158,071 {6,618) 151,453 TOTAL FUNDS 170,126 4,623) 165,503 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources Movement expended in funds Unrestricted funds General fund 68,648 {66.653) 1,995 Restricted funds Restricted Fund 96,827 (103.445) (6,618) TOTAL FUNDS 165475 170 og8) 4.623) A current year 12 months and prior year 12 months combined position is as follows= Net movement in funds At 31.3.24 At 1.4.22 Unrestrlctsd funds General nd 12.055 (6,018) 6,037 Restrlcted funds Restricted Fund 158,071 {1.927) 156,144 TOTAL FUNDS 170.126 7,945) 162,181 Page 15 continued...
Dennett Interchan Notes to the Financial Statements - Gontinued for the Year Ended 31 March 2024 10. MOVEMEKf IN FUNDS - contlnued A currenl year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows: Incoming resources ReSoUrS Movement expended in funds Unrestricted funds General fund 130,219 {136,237) (6,018) Restricted funds Restricted Fund 193,906 (195,833) (1,927) TOTAL FUNDS 324.125 332.070) 7.945) 11. RELATED PARTY DISCLOSURES During the year ended 31 March 2023, payments of £623 were made to a trustee relating to work carried out servicing the Meals on Vvheels van. Page 16
Dennett Interchan De iled Statement of Fin nci l Activities for the Year Ended 31 March 2024 31.3,24 31.3.23 INCOME AND ENDOWMENTS Donations and legacies Donations Grants Activities in the furtherance of the charity 3,605 800 626 745 1,371 4,405 other trading activities Fundraising events Cafe l Luncheon Club Contributions to costs Occasional incorne 3.773 2,127 7,355 614 13,869 2,488 820 3,434 235 6,975 Investment inGome Rents received Deposit account interest 7,200 238 7,438 7,200 14 7,214 Charltable activities Meals on Wheels DCSDC- CCVF HSCIWHSCT PCSP - Summer Wellbeing SSE Communty Fund DCSDC- Community Support Fund DCSDC - Pilot Consensual Good Relations CARE Fund DCSDC -social Supermarket Fund Halifax Foundation NIHE Shared Summer Project 38,286 14,400 6,280 54,632 9,790 6,021 9,137 3.000 1,000 15,000 800 50,535 3.000 3,200 700 43,500 12,952 5,900 132.938 158,650 149.915 165,475 Total incomlng resources This page does not form part of the statutory financial statements Page 17
Dennett Interchan Detailed Statement of Financial Activities for he Year Ended 31 March 2024 31.3.24 31.3.23 EXPENDITURE Charltable activitieg Wages Pensions Postage and stationery Care Project Community Centre Venue Costs Good Relations MiGro Grants PCSP - Summer Wellbeing Pilot Consensual Activities in furtherance of l e charity's purpose CafelLunGheon Club Community Support Fund Social Supermarket NIHE Shared Summer Project Summer Schemo 5,900 817 279 40,561 1.203 741 382 39,539 2,065 1,708 551 9,108 13,500 750 38.808 4,328 11,783 4,720 400 110,290 1,086 48,476 116,415 Other Cleaning Staff training & welfare Depreciation of langible fixed assets 250 5.377 5,627 5.018 5,021 Support costs Management Wages 10,805 14,933 Finance Bank charges 39 10 other Rates and water Insurance Light and heat Telephone Carried forward 300 1.294 9.161 2,122 12,877 248 1,163 7,784 1,735 10,930 This page does not form part of the siatutory financial statements Page 18
Dennett Interchan Detailed Statement of Financial Activlties for the Year Ended 31 March 2024 31.3.24 31.3.23 Other Brought forward Sundries Motor expenses Rent Room hire Volunteer and respite costs Repairs and renewals Computer expenses 12,877 575 2,687 9.360 10,930 716 3,880 9,360 30 2,794 1,938 3.323 147 30,907 28,754 Governance costs Accountancy and legal fees Total resources expended Net expenditure 4,910 161,972 4,359 170098 623) This page does not form part of the statutory financial statements Page19