2025-06-30-accounts - Dromara Connect

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COMPANY REGISTRATION NUMBER: NI638734 CHARITY REGISTRATION NUMBER: NIC 106110

Dromara Connect Company Limited by Guarantee Unaudited Financial Statements 30 June 2025

Dromara Connect

Company Limited by Guarantee

Financial Statements

Year ended 30 June 2025

	Page
`Trustee's annual report (incorporating the director's report)`	1
`Statement of financial activities (including income and`
`expenditure account)`	2
`Statement of financial position`	3
`Notes to the financial statements`	4

Dromara Connect

Company Limited by Guarantee

Trustee's Annual Report (Incorporating the Director's Report)

Year ended 30 June 2025

The trustee, who is also the director for the purposes of company law, presents his report and the
unaudited financial statements of the charity for the year ended 30 June 2025.

Reference and administrative details

Registered charity name Dromara Connect Charity registration number NIC 106110 Company registration number NI638734 Principal office and registered 26 Rathfriland Road office Dromara Co Down BT25 2JG N Ireland

The trustee

Mr D Roberts

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to
the small companies exemption.

The trustee's annual report was approved on .............................. and signed on behalf of the board of
trustees by:

Dromara Connect

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 30 June 2025

		2025	2025	`2024`
		`Unrestricted`
		`funds`	Total funds	`Total funds`
	Note	£	£	`£`
Income and endowments
`Donations and legacies`	5	`13,968`	`13,968`	`6,981`
`Other income`	6	`–`	`–`	`667`
		��	��	��
Total income		`13,968`	`13,968`	`7,648`
		��	��	��
Expenditure
`Expenditure on raising funds:`
`Costs of raising donations and legacies`	7	`13,219`	`13,219`	`9,082`
		��	��	��
Total expenditure		`13,219`	`13,219`	`9,082`
		��	��	��
		��	��	��
Net income/(expenditure) and net movement in funds		`749`	`749`	`(1,434)`
		��	��	��
Reconciliation of funds
`Total funds brought forward`		`120,363`	`120,363`	`121,797`
		��	��	��
Total funds carried forward		`121,112`	`121,112`	`120,363`
		��	��	��

The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.

The notes on pages 4 to 9 form part of these financial statements.

Dromara Connect

Company Limited by Guarantee

Statement of Financial Position

30 June 2025

		2025	`2024`
	Note	£	`£`
Fixed assets
`Tangible fixed assets`	10	`115,593`	`115,593`
Current assets
`Cash at bank and in hand`		`5,519`	`4,770`
		��	��
Net current assets		`5,519`	`4,770`
		��	��
Total assets less current liabilities		`121,112`	`120,363`
		��	��
Funds of the charity
`Unrestricted funds`		`121,112`	`120,363`
		��	��
Total charity funds	12	`121,112` ��	`120,363` ��

For the year ending 30 June 2025 the charity was entitled to exemption from audit under section 477 of
the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies' regime.

These financial statements were approved by the board of trustees and authorised for issue on 26
September 2024, and are signed on behalf of the board by:

The notes on pages 4 to 9 form part of these financial statements.

Dromara Connect

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 30 June 2025

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in N
Ireland and a registered charity in Northern Ireland. The address of the registered office is 26
Rathfriland Road, Dromara, Co Down, BT25 2JG, N Ireland.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities
SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.

Designated funds are unrestricted funds earmarked by the trustee for particular future project or
commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or
endowment funds.

Dromara Connect

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity; it is probable that the economic benefits associated with the transaction will
flow to the charity and the amount can be reliably measured. The following specific policies are
applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
financial activities to which it relates:

expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.

Dromara Connect

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities.  A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the cash-
generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable
group of assets that includes the asset and generates cash inflows that largely independent of the
cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants
are not recognised until there is reasonable assurance that the charity will comply with the
conditions attaching to them and the grants will be received.

Where the grant does not impose specified future performance-related conditions on the
recipient, it is recognised in income when the grant proceeds are received or receivable. Where
the grant does impose specified future performance-related conditions on the recipient, it is
recognised in income only when the performance-related conditions have been met. Where
grants received are prior to satisfying the revenue recognition criteria, they are recognised as a
liability.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.

Dromara Connect

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

3. Accounting policies (continued)

Financial instruments (continued)

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.

4. Limited by guarantee

5. Donations and legacies

	`Unrestricted`	Total Funds	`Unrestricted`	`Total Funds`
	`Funds`	2025	`Funds`	`2024`
	`£`	£	`£`	`£`
Donations
`Donations type 1`	`5,313`	`5,313`	`4,981`	`4,981`
Grants
`Government grant income`	`8,655`	`8,655`	`2,000`	`2,000`
	��	��	��	��
	`13,968`	`13,968`	`6,981`	`6,981`
	��	��	��	��

Dromara Connect

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

6. Other income

	`Unrestricted`	Total Funds	`Unrestricted`	`Total Funds`
	`Funds`	2025	`Funds`	`2024`
	`£`	£	`£`	`£`
`Other income type 1`	`–`	`–`	`667`	`667`
	��	��	��	��
Costs of raising donations and legacies
	`Unrestricted`	Total Funds	`Unrestricted`	`Total Funds`
	`Funds`	2025	`Funds`	`2024`
	`£`	£	`£`	`£`
`Costs of raising donations and legacies`
`- Donations`	`13,219`	`13,219`	`9,082`	`9,082`
	��	��	��	��

7. Costs of raising donations and legacies

8. Staff costs

The average head count of employees during the year was Nil (2024: Nil).

No employee received employee benefits of more than £60,000 during the year (2024: Nil).

9. Trustee remuneration and expenses

 no remuneration or other benefits from employment with the charity or a related entity were
received by the trustees

10. Tangible fixed assets

	`Freehold`	`Fixtures and`
	`property`	`fittings`	Total
	`£`	`£`	£
Cost
At 1 July 2024 and 30 June 2025	`83,666`	`31,927`	`115,593`
	��	��	��
Depreciation
At 1 July 2024 and 30 June 2025	`–`	`–`	`–`
	��	��	��
Carrying amount
At 30 June 2025	`83,666`	`31,927`	`115,593`
	��	��	��
`At 30 June 2024`	`83,666`	`31,927`	`115,593`
	��	��	��

11. Government grants

The amounts recognised in the financial statements for government grants are as follows:

	2025	`2024`
	£	`£`
`Recognised in income from donations and legacies:`
`Government grants income`	`8,655` ��	`2,000` ��

Dromara Connect

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 30 June 2025

12. Analysis of charitable funds Unrestricted funds

Unrestricted funds
							At
	`At`	`1`	`July 2024`	`Income`	`Expenditure`	30 June 2025
			`£`	`£`	`£`		`£`
`General funds`			`120,363`	`13,968`	`(13,219)`		`121,112`
			��	��	��		��
							`At`
	`At`	`1`	`July 2023`	`Income`	`Expenditure`		`30 June 2024`
			`£`	`£`	`£`		`£`
`General funds`			`121,797`	`7,648`	`(9,082)`		`120,363`
			��	��	��		��