REGISTERED COMPANY NUMBER: N1043465 (Northern Ireland) REGISTERED CHARITY NUMBER: 106092 Re rt of the Trustees and Unaudited Fin ncial Statements for the Year Ended 31 March 2025 Dennett Inlerchan
Dennett Interchan Con ents of the Financial Statements for the Year Ended 31 March 2025 Page Report of the Trustees Independent Examinerfs Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 8 to 14 Detailed Statement of Financial Activities 15 to 17
Dennett Interchan Re ort of the Trustees f r the Year Ended 31 March 20 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial ststements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance wsth the Financial Reporting standard applicable in the UK and Rewblic 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 life for all the inhabitants of Dery City and Strabane District Council, Fermanagh and Omagh District Council, and Causeway Coast and Glens Borough Council areas without distinction of gender. race or of political. religious 01 other opinions. Significant activltles During the year Dennett Interchange continued to provide a range of courses and training to advance education. We organised accredited courses in food hygiene and defibrillator training. We also organised a range of social & recreational activities including flower arranging, arts and crafts, arm chair aerobics and yoga. We co-ordinated in partnership with other statutory organisations & groups a range of setvices aimed at relieving poverty and improving the social welfare which includes outreach citizens advice servi, respite for carers, podiatry Servi and hearing aid clinic. Our Meals on INheels 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 attendance at the Luncheon Club. The CARE Project enables us to continue working with other organisations from Park, Artigatvan and Baltymagorry to offer a range of services and activities for the over 55s. Publlc benefft During the year the charity continued to operate its Meals on IMeels seplice, Luncheon Club, respite for carers servi, numerous social and 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 Scheme offered a variety of activities for the local children. ACHIEVEMENT AND PERFORMANCE Charitable activitles This year saw the continuation of our programmes due to continued grant support from our funders. The charity considers the ongoing demand and high uptake of its key outreach programmes such as Meals on Wheels as an achievement. The charity continued to work towards its objects of promoting education. relieving the elderly and providing improvements in social welfare through various activities designed to assist those in the communty. The charity was able to once again offer a summer scheme during the year. The ongoing CARE project has enabled us to offer a range of varied activities and services for the over 55s and this project continues to be very popular and well supported. Page 1
nnett Interchan Re rt of the Trustees for the Year Ended 31 March 2025 FINANCIAL REVIEW Financial position The trustees are satisfied with the perfonnance of the charity during the year to 31 March 2025. Overall the charity recorded a surplus of £13,953 (2024 £3,322 deficit). The Balance Sheet totals £176,134 (2024 £162,181). The charity continued to secure funding for its programmes as well as funding from new sources. Reserves policy At the end of the financial year to 31 March 2025, the reseNes held by the charity amounted to £176,134 {2024 £162,181). Dennett Interchange has accumulated a surplus of funds since its inception. Some estimated expenditure exceeded actual expenditure resulting in surplus funds. These reserves provide some security that the chanty will continue to function short term, if available funding declines in the future.The reser4es also provide financial supp)rt rf any fixed assets require replacement for Dennett Interchange to continue 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 back into the charity and are held as described above for future projects and for the future life of the charity. Going concem Vvfjth funding continuing to be difficult to secure, the charity is constantly working hard to identify new funding sources. As mentioned new funding sources have been secured with more being sought. Steps are also being taken to reduce costs Within the charty. It is noted that reserves remain at a healthy level. The trustees are not aware of any material concems about the charity's ability to continue as a going concern. Funds In deficlt The board of trustees is satisfied Ihat the charity's assets in each fund are available and adequate to fulfil its obligations in respect of each fund. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The charity is controlled by rts goveming document, a deed of trust, and constitutes a limited company, limited by guarantee. as defined by the Companies Act 2006. Recrulbnent and appointment of new trustees New trustees are identified through word of mouth. They come 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 Reglstered Company number N1043465 (Northem Ireland) Registsred Charity number 106092 Page 2
Dennett Interchan ort of the Trustees he Year Ended 31 Ma h 2025 Registered offlce Amity House 1 Brook Road Donemana Strabane Co. Tyrone BT82 OPF Trustees Ms Amanda JOY Buchanan Robert James Leslie Craig Damien Paul Devine Archibald Thomas Fullerton Ms Christine Fulton Robert Elkin Robinson Company Secretary Ms Christine Fulton This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Approved by order of the board of trustees on . I l .(.{ 20.25... and signed on its beha by: Robert James Le raig - Trustee Page 3
Inde ndent Examinerfs Re Dennett Interchan I report on the accounts of the company for the year ended 31 March 2025, which are set out on pages five to fourteen. rt to the T tees of Respective responsibilities of charity 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 accordance with the requirements of the Companies Act 2006. Having satisfied ryself that the charity is not subject to audit under company law and is eligible for independent examination, Ft is my responsibilty to: examine the accounts under Section 65 of the Charities Act follow the procedures laid down in the general Directions given by the Charity Commission for Northem Ireland under Section 65(9)(b) of the Charilies Act state whether particular matters have come to my attention. Basls of the Independent examlnerfs report I have examined your charty accounts as required under Section 65 of the Charities Act and my examination was carried out in accordan 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 conmIng any such matters. My role is to state whether any material matters have come to my attention gNing me cause to believe.. That accounting records were not kept in accordan 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 Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland That there is further infomiation needed for a proper understanding of the accounts to be reached. Independent examinerfs ststement I have completed my examination and have no cOnmS in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Rory P Gormley The Institute of Financial Accountsnts Date: ...!.I I11.120.2s............... Paae 4
Dennett Interchan Slatement of Financial Activities f r the Year Ended 31 March 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted Restricted fund fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1.669 1,669 4.405 Charltable actfvities Meals on Wheels Care Project Community Centre Venue Fund Micro Grants Community Support Fund Good Relations SOCRI Supermarket Administrator wages Summer Scheme National Lottery Communty Fund Solar Panels 35,342 35.342 46,447 12.246 1.275 800 500 41,286 49,780 14,400 46.447 12,246 1,275 800 500 3,200 700 12,952 5,900 4,720 15,630 9,000 15,630 9,000 Other trading activities Investment income Total 7,194 7,707 51,912 3,780 10,974 7,707 141,590 13,866 7,438 158,647 89.678 EXPENDITURE ON Charitable activities Meals on Thee1s Care Project Community Centre Venue Fund Community Support Fund Good Relations Social Supermarket Administrator wages Summer Scheme 33,281 461 8,646 624 33.281 29,708 25.357 38,808 41,696 19,126 5,078 741 11,783 5,900 4,720 29,247 16,711 420 500 626 500 626 38 3.102 3,140 Other Total 34,117 161969 69.688 227.637 NET INCOMEI(EXPENDITURE) (6,037) 19,990 13.953 (3,322) RECONCILIATION OF FUNDS Total funds brought forward 6,037 156.144 162,181 165,503 TOTAL FUNDS CARRIED FORWARD 176,134 176,134 162,181 The notes form part of these financial statements Page 5
Dennett I er han Balance Sheet 31Ma h 2025 31.3.25 Total funds 31.3.24 Total funds Unrestricted Restricted fvnd fund Notes FIXED ASSETS Tangible assets 86,795 86.795 83,974 CURRENT ASSETS Debtors Prepayments and accrued income Cash at bank 5.206 714 92,767 98,687 5,206 714 92,767 98,687 11,360 787 80,651 92,798 CREDITORS Amounts falling due within one year (9,348) (9,348) (14,591) NET CURRENT ASSETS 89.339 89,339 TOTAL ASSETS LESS CURRENT LIABILITIES 176.134 176.134 162.181 NET ASSETS FUNDS Unrestricted funds Restricted funds TOTAL FUNDS 176.134 176.134 162,181 10 6.037 156,144 162,181 176 134 176.134 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordan with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply wilh Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit 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 the charitable company. The notes fomi part of these financial statements Page 6 continued...
Dennett Interchan Balance Sheet- continued 1 March 2025 These financial statements 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 l i .O££R¥thd. ?02&.......... and were signed on its behalf by: Robert Jam ie Craig - Trustee The rK)tes fo part of these financial statements Page 7
Dennett Interchan Notes to the Financial Statements for the Yea Ended 31 March 2025 ACCOUNTING POLICIES Basls of preparfng the financial statements The financial statements of the charitable company. which is a public benefft entity under FRS 102. have been prepared in accordan with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of RecomrrEnded 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 Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expendlture 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 category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis nSIstent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Taxatlon The charty is exempt from corporation tax on its charitable actNities. Fund accountlng Unrestricted funds can be used in ac(x)rdance with the charitsble objectives at the discretion of the trustees. Restricted fvnds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or 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 statements. Pension costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Page 8 continued...
ennett Interchan Notes to the Financial Statements- continued for h Year Ended 31 March 202 OTHER TRADING ACTIVITIES 31.3.25 31.3.24 Fundraising events Cafe l Luncheon Club Contributions lo costs Occasional income 1,086 3.779 5.021 1,088 3,773 2.127 7.355 611 INVESTMENT INCOME 31.3.25 31.3.24 Rents received Deposit account interest 7.200 507 7.707 7.200 238 7.438 NET INCOMEI{EXPENDITURE) Net incomel(expenditure) is stated after chargingl(Cfediting): 31.3.25 31.3.24 Depreciation - owned assets Deficit on disposal of fixed assets 5,686 1,367 5,017 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other beneffts for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustses. expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. Page 9 continued...
Dennett Interchan Notes to the Financial Statements- continued r Ended 31 March 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 4.105 300 4,405 Charftable activities Meals on Wheels Care Project Community Centre Venue Fund Community Support Fund Good Relations Social Supermarket Administrator wages Summer Scheme 38,286 3,000 49,780 14.400 3.200 700 12.952 5.900 4,720 41.286 49,780 14.400 3.200 700 12,952 5,900 4,720 Other trading activities Investment income Totsl 11,740 7.438 61.569 2,126 13,866 7,438 158,647 97.078 EXPENDITURE ON Charltable activities Meals on Wheels Care Project Community Centre Venue Fund Community Support Fund Good Relations Social Supermarket Administrator wages Sumrner Scheme 38.808 1,135 6,871 750 38,808 41,696 19.126 5,078 741 11.783 5.900 4,720 40,561 12,255 4,328 741 11,783 5,900 4,720 Other Total 22.018 69,582 12,099 92,387 34,117 161,969 NET INCOMEI(EXPENDITURE) (8,013) 4,691 (3,322) RECONCILIATION OF FUNDS Total funds brought forward 14,050 151,453 165,503 TOTAL FUNDS CARRIED FORWARD 6,037 156,144 162,181 Page 10 continued...
Dennett Interchan Notes to the Financial Statements - continued for the Year Ended 31 March 2025 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold propety Plant and machinery Computer equipment Totals COST At 1 April 2024 Additions Disposals Al 31 March 2025 DEPRECIATION At 1 April 2024 Charge for year Eliminated on disposal At 31 March 2025 NET BOOK VALUE At 31 March 2025 At 31 March 2024 109,823 3,860 940 (3.250> 1,550 84,028 9.264 17.552 215,263 10,204 3.250) 222,217 109,823 93,292 17,552 40.600 2,197 2.098 151 1,553) 696 71.039 3.338 17,552 131,289 5,686 42,797 74,377 17,552 135,422 67,026 854 1.762 18.915 12.989 86,795 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Trade debtors Other debtors 1,600 3.606 5.206 2,150 9,210 Page11 continued...
Dennett Interchan Notes to the Financial Statements - continued for the Year Ended 1 M rch 2025 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.25 31.3.24 Trade creditors Social security and other tsxes Accrued expenses 5,261 487 3,600 9.348 9,922 1.069 3,600 14.591 10. MOVEMENT IN FUNDS Net movement in funds At 31.3.25 At 1.4.24 Unrestrlcted funds General fund 6,037 {6,037) Restricted funds Restricted Fund 156,144 19,990 176.134 TOTAL FUNDS 162,181 13,953 176,134 Net movement in funds, included in Ihe above are as follows- Incoming resources Resources Movement expended in funds Unrestricted funds General fund 51,912 (57.949) (6,037) Restricted funds Restricted Fund 89.678 {69,688) 19.990 TOTAL FUNDS 141.590 127,637 13.953 Page 12 continued...
Dennett Interchan Notes to the Financial Statements - continued for the Y r Ended 31 March 2025 10. MOVEMENT IN FUNDS- contlnued Comparatives for 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 Restrlcted funds Restricted Fund 151,453 4,691 156,144 TOTAL FUNDS 165,503 162,181 Comparative net movement in funds, included in the above are as follows: Incoming resources Resources Movement expended in funds Unrestricted funds General fund 61.569 (69.582) {8,013) Restrlcted funds Restricted Fund 97,078 {92,387) 4,691 TOTAL FUNDS 161969 158 647 3 322) A current year 12 months and prior year 12 months combined position is as follows.. Net movement in funds At 31.3.25 At 1.4.23 Unrestricted funds General fund 14,050 (14,050) Restrlcted funds Restricted Fund 151,453 24.681 176,134 TOTAL FUNDS 165,503 10.631 176,134 Page 13 continued...
Dennett Interchan Notes to the Financial Statements - continued for the Year Ended 31 March 2025 10. MOVEMENT IN FUNDS - contlnued A cuent year 12 months and prior year 12 mnlhs combined net movement in funds. included in the above are as follows.. Incoming resources ReSoUrS Movement expended in funds Unrestricted funds General fund 113,481 (127,531) {14,050) Restricted funds Restricted Fund 186,756 (162.075) 24.681 TOTAL FUNDS 300,237 289,606) 10,631 11. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. Page 14
enn tt Interchan Detailed Statement of Financial Activities for the Year Ended 31 M rch 2025 31.3.25 31.3.24 INCOME AND ENDOWMENTS Donatlons and legacies Donations Grants 1.669 3,605 800 4,405 1.669 Other tradlng activities Fundraising events Cafe l Luncheon Club Contributions to costs Occasional income 1,086 3.779 5,021 1,088 10,974 3,773 2,127 7,355 611 13,866 Investment income Rents received Deposit account interest 7.200 507 7,707 7.200 238 7,438 Charitable activities Meals on Wheels DCSDC- CCVF HSCIWHSCT SSE Community Fund DCSDC- Community Support Fund Good Relations CARE Fund DCSDC -social Supermarket Fund Halifax Foundation NIHE Shared Summer Project DAERA Micro Grant Nat Lottery Communty Fund 35,342 12.246 6.826 9,000 800 500 39,621 38,286 14,400 6,280 3,000 3,200 700 43,500 12,952 5,900 4.720 1,275 15,630 121,240 141,590 132,938 158,647 Total incoming resources EXPENDITURE Charitsble activities Wages Carried forward 5,900 5,900 This page does not fom part of the statutory financial statements Page 15
Dennett Intercha Detailed Statement of Financial Activities for the Year Ended 31 March 2025 31.3.25 31.3.24 Charitsble activities Brought forward Pensions Postage and stationery Care Project Community Centre Venue Costs Good Relations Activities in furtherance of t e charity's purpose CafelLuncheon Club Community Support Fund Social Supermarket Summer Scheme Summer Scheme 5,900 817 279 40,561 1,203 741 321 120 29,247 1.601 500 1,324 33,281 420 626 3,140 750 38,808 4,328 11.783 4,720 400 110,290 70,580 Other Depreciation of tangible fixed assets Loss on sale of tangible fixed assets 5,685 1,367 7,052 5,018 5,018 Support costs Management Wages 17,577 10,805 Finance Bank charges 20 39 Other Rates and water Insuran Light and heat Telephone Sundries Motor expenses Rent Volunteer and respite costs Repairs and renewals Computer expenses 287 1,505 7,214 1,656 40 2.505 9,360 2,608 300 1,294 9,161 2,122 575 2,687 9,360 1,938 3,323 147 30,907 250 27,869 Governance costs Accountancy and legal fees 4,539 4,910 This page does not fonn part of the ststutory financial ststements Page 16
Dennett Int rchan Detailed Statement of Financial Activities for he Year Ended 31 March 2025 31.3.25 31.3.24 Totsl resources expended Net incomel(expenditure) 127,637 13.953 161,969 3,322) This page does not fonn part of the statutory financial statements Page 17