Cornpany Number.. N1056142 Charity Number '. NIC106325 South Lough Neagh Regeneration Association IA company limited by guarantee. nol having a Share tapitall Annual Report and Unaudltsd Flnanclal Statements for the financial year ended 31 December 2020 Daly Park & Company Ltd Chartered Accountants 4 Carnegie Street Lurgan ¢0. Armagh BT66 6AS North¢m Ir¢l•nd
South Lough Neagh Regeneration Association IA company Ilmited by guararrtee. not having a share capitall CONTENTS Page Trustees, and Other Information Tru51ees' Annual Report Statement of Trustees, Responsibilities Independent Examinerfs Report 10 statement of Financial Activities 11 Balance Sheet 12 Notes to the Financial Statements 13-17
South Lough Neagh Regeneration Association IA company limited by guarantee, not having a share capital) TRUSTEES. AND OTHER INFORMATION Trustees Jacinta Cusad( Michela Cusack Alan John Emerson Hazel Guiney Conor Martin Jordan Gordon Henry Rithardson Stanley Trouton Joseph Nelson (Appointed 1 OCtor 20201 Cornpany Secretsry Mary McAlinden Company Number N1056142 Charity Number NIC106325 Registered Office 1 Maghery Businèss Centrè Maghery Road Dungannon Co Tyronè BT71 6PA Northem Ireland Principal Addre¥¥ 1 Maghery Business Centre Maghery Road Dungannon Co. Tyrone BT716PA Northern Ireland Independent Examlnèr Daly Park & Company Ltd Ch8rtèrèd Aeeountants 4 Cainegi¢ Strè&1 Lurgan Co. Armogh BT66 6AS Northern Ireland Bankers Bank of Irelatxl 43 High Street Portadown Co. ATrnagh BT62 1 HY Northem Ireland
South Lough Neagh Regeneration Association IA company limlted by guarantee, not havlng a share Capitsll TRUSTEES, ANNUAL REPORT for the financial year ended 31 December 2020 The trustees present their Trustees. Annual Report. combining the Directors, Report and Trustees. Report. and the unaudited financial statements foi the financial year ended 31 D6cèmber 2020. The financial statements are prepared in accordan with the Companies Act 2006, FRS 102 'The Financkgl Reportirtg Sland8rd applicable in the UK and Republ of Ireland" and Accounting and Reporting by Charits'es.. Statement of Recommended Practice applicable to charities preparing their finanaal statements in accord8n¢e with the Financial Rsporting Standard applicabl8 in the UK and Republic of Ireland IFRS 1021. The Trustee5' Report contains the information required lo be provided in the Trustees. Annual Report under th8 Statement ol Recommended Practice ISORPI guidelines. The trustees of the company are also charity trustees for the purposè of charity law and under the company's conslilulion are known as m8rnbers ol the board of Iruslees. In this report the trustees of South Lough Neagh Regeneration Association present a summary of its purpose, govemance, activities, achievements and finances for the financial year 31 December 2020. The company is a registered charity and hence the reFK)rt and results presented in a fom whh complies with the requirernenls of the Companies Act 26 and. atthough not obliged lo comply wlh the Statement of Recornrnended Practice (Charities SORP effective January 20151, the organisation has implemented recommendations where relevant in these finanaal statements. Financial Rèsults At the end of the financial year the company has assets of £182.66912019- £155.3451 and liabilities of £3,48012019 £2,980). The net assets of the cornpany have increased by £26,824. Prineipal Risks and Une•rtainti•s Our Mission To allrad and encourage investment in the economic social and environmental well being of southem shores of Lough Neagh., to generate activity. employment, enthusiasm and pride in the community. Achievements & performan The work of South Lough Neagh Regeneratèon Assoall0n focuses on ils guiding principles of .. Economic Development- Rural Enterprise Developrnenvsustainability Community Relations- Through Art5 & Culture Environment- Tourism and Bio Diversity Rural Community Development- Social Wellbeing Chairp•rson's R•port- 2020 Thls last 12 months we have seen a huge downlum in fvndlng for groups such as SLNRA which in tum gives the group and COEnmiltee mernbers tougher challenges lo rneel. There have been fewer projects delivered on the ground than in previous years because of Covid-19 and the periods ol lockdown which rneanl 3t8ff were required lo 'switch their delivery, in order lo come up with a range of online piogr8mme5 to benefrt people living in Ihg area. We have had to be very strategic in our approach lo some of this work and at times it was necessity to become invdved in other projects being delivered by a range of agencies such as the SH&SCT, the Council, and Ac&on Mental Health. Our funders were very helpful in agreeing to the new delivery proposals we presented to them for onlin8 programme delivery. In the past. most of our projecis have aK¥ays involved face-ttrface engagement. Wa ¥r8 vary happy tts say that ono gf Ihe main outtoma$ of strategic working has beén that wè have raised our online prolile and the feedback we have received from partiupants have been inv8lu8bl¢ and wlll support fijnding application for a range of other programme$ in lh¢ future. One project which we cornrnenced in the Autumn of 2020 and I think is worth mentioning, is Ihe"Loughshore SOS". Support our Schools, project to support the return to school post- lockdown of our primary school children from the 7 local schools. From the start ol this project this Project did not take its prqected path due to the second sch(>ol d05ure.
South Lough Neagh Regeneration Association IA Gompony Ilmit¢d by guarartee, not having a Share Gapitall TRUSTEES, ANNUAL REPORT for the financial year ended 31 December 2020 During this lo¢kd¢wn period. we were able lo deliver an online Relax Kids to 8117 10¢81 Prlmary schCls simultaneously. We also piovided Relax Kids training and resource p8cks for the schools so thèy can continue to implement the te¢hniquès with the Ghildren returned lo school. We provided online Speech & Drama sessions for a selection of P4 children and the feedback frorn parents w8$ $0 good that we arranged for the children to also attend an online summer scheme. Famllies participated at Woodview Garden Cenlie for a moming of learning, pruning and grafting in the vegetable patch. We all INe in a faming community and not many people can say they have dug up a potato or picked apple5 from a tree Just after the first lockdown SLNRA realised that lo¢al families needed to get outside again. safety.. staff organised a family day al the fairn and following all the governmgnl guid61inès wè wère able to provide a safe environment for these families to meet in. wèrè able to pair up with another project whtch SLNRA was d8livering, the Safèfood progiamme and the next day these f8milieg tuned In online 1¢ make healthy h(xnemade vege18ble stsup from the produce the gathed at the fami. Al the end of Novernber 2020, the Council approached us lo ask if SLNRA would be interested 15 putting together programme of virtual Ghristmas Tree'switch on, events for each of the villages in the area. Again. SLNRA staff wothed with the local school children to make these events happen. The schools pul together a range of Chiistrnas Corals for the children to perform and keeping to the social distancing guidelines these events were captured and put out live on Facebook for people in Ihe cThmrnunity to enjoy. In November 2020 Proiect Coordinator approached the volunteers from the local senior citizens groups who prowde weekly friendly phone call to the older people throughout the south Lough Neagh area and asked if they would stsrt a conversation around home baking. Oh goodness do our older people enjoy baking and we were hearing loads of tips on how to make the best treade fads or boiled cake. Celebralin Christmas... ONLINE For a project to help form the online exhibllion it became obvloLJS that home bakirKJ should form part of this and we ask the older people to send in their favourite Christmas CakelPudding receipts. We received quite few elPeS back but the one that 51cod out from the crowd was from a lady ¢>lled. Teresa, who lives in Maghery and attends the local older people club. Teresa sent her motherf5 recipe which was written in her motherfs hand writing on the back of an envelope. Sure wasn't this the old way of passing on 8 Iradth'on81 recipe.
South Lough Neagh Regeneration Association IA company limlted by guarantÈè. not havlng a share capltall TRUSTEES, ANNUAL REPORT for the financial year ended 31 December 2020 Now because of the lack of community outreach delivery, through this project SLNRA is trying to be as creative and innovative as possible when it comes lo inspiring the next generation lo pick up 8 traditional skill. We teamed up with a local baker Rosie from'Rosie's Cakes,, where she converted the recipe into today's m8a5ur8tnenls. In order for us to document her making and baking the Christmas Pudding we engaged a fa¢ilttalor lo record Rosie and created a short 'How To, film which was lautxhed on our socials on the run up lo Christrnas week. The lilk Slelja Kelly, and her daughter STELLA KELLYS CHRISTMAS PUDDING RECIPE PRESERVING AND PROMOTING THE TRADITIONAL SKILLS AND CULTURAL HERITAGE OF THE SOUTH LOUGH NEAGH AREA PROJECT DELIVERED BY SOUTH LOUGH NEAGH REGENERATION ASSOICATION & FUNDED B Y HERITAGE LOTTERY Children tsking part in an online'lie dye, art project. Everyone knows that lo deliver these projects there is a need for officer resources and I have no hesitation in saying none of the work would have been possible wilhoul the unswerving efforts of our Staff members. W8 are also deeply indebted to the support of our funders, ABC Council, the Heritage Lottery Fund, Awards for All. the Community Foundationlcomic Relief, Safefood. and the CDHN BCPP (Communily Pharmacy) I would like to take this oprK)rtunty to commend our committee members on the professhjnalism that each has demonslraled arKI the cotnmiltnenl and dedication they give to the Association. Joe Nelson SLNRA Chairperson
South Lough Neagh Regeneration Association IA company limited by guararbteo. not havlng a share capltall TRUSTEES, ANNUAL REPORT forth8 finanaal year ended 31 December 2020 Structure, governance and Management Governing Document South Lough Neagh Regen8r81ion As50Cl8lion is a company limited by guarantee goveined by its Metnorandurn and Articles of Association dated 9th August 2005 In the event of the company being wound up, the liability in respect of the gu8I8ntee is limited to £1 per member. The company is under the control of the Directors, who are thereforè acting Trustees for the charity. South Lough Neagh Regeneration Association under a Service level Agreement with the Loughshore Care partnership continue lo deliver a range of setvices for older people in the aiea through the management of voluntews who deliver a Day Care Service and Befriending Sd)eme. The group were able to use the evaluation of the Loughshore AcsS to Basic Health & Well-being project to support ils application lo the Big Lottery - Connecting Young Families Programme. This appli¢ation was successful securing funding for 5 years to deliver the Loughshore Family Action Project focusing on services for families. Appointment of director As described in the Articles of Association. a new IreCtOr may be eligible ft>r 8ppolntment rf 21 days beftjrè the Annual General Meeting, written notice Is dep051ted with the registered office of the intended propo$al, signed by a trrnber and signed by the person to be proposed, so as to indicate Iheirwsllingness to be eleded. Director induction & training New directors are briefed on their legal obligations under charty and company law, the content of the Memorandum and Articles of Association, the Board and decision making process and recent financial performan of the Gharity. Oirectors are encouraged lo eW the Charilies Commission website so as to gain a full understanding ol their roles and responsibilities. Risk Management The Directors have a risk managernenl str8te9y which comprises an annual review of the risks the company faces. the establishment of systems and procedures lo miligale thosè risks idenb.fied and the implemenlaion of procedures designed lo minirnise any potential impact on the compary. Trustees The trustees who served throughout the financial year, except as noted. were as follows.. JacAnta Cusack Michela Cusadt Alan John Emerson Hazel Guiney Conor Martin Jordan Gordon Henry Richardson Stanley Trouton Joseph Nelson (Appointed 1 October 20201 In accordance with the Artides of Association, the dir8dors retire by rotation and, being eligible, offer themselves f re-election. Thè sècrètary who served during the finanaal year was.. Mary McAlin(l¢n Compliance with S•etor-Wide Legislation and Standards The Company engages pro-adivdy with legislation, standards and codes which a developed for the s8¢101. Sotth Lough Neagh Regeneration A5SOCl81ion subscrib8s to and is compliant with the following.. The Companies Act 2LX)6 The Charities SORP IFRS 102)
South Lough Neagh Regeneration Association IA company limited by guarantee, not having a 5har8 capital) TRUSTEES. ANNUAL REPORT for the finanryal year ended 31 De¢gmbgr 2020 Flnanclal Revlew & Reserves Pollcy The charity. with the aid of sound financial managèm8nt and the support of both its staff and volunteers. generaled a posffive financial outcome for the year, given the current econom dimate. Reserves Policy The Board has èxaminèd charity's raquirèm8nts for reseNes in light of the main risks of the organisation. It believes the charity should hold reserves because the organisalions signifi(xntly dependent upon giant incomè which can be subject lo ffluctuation and requires protection against, and the ability to continue operating despite, catastrophic or lesser bul damaging events. The 8oard believes that the minimum level ol reseNes should include an equivalent of SIX months. operating costs and a contingency for potential redundancy or other unexpected c95ts. The level of resouices will be calculated and reviewed anllual and will be built up to the desired level in stages consistent with the charty's overall financial position and its need lo maintain and develop Ils ¢haritable a¢vItIes. Statèm•rht as to dlsclosurè of Infomiatlon to independent examiners In so far as the trustees are awaie.. - There is no relevant audit infomiation of which Ihe charitable companys. atsdi*ors are unaware'.and The trustees have taken all steps that they ought to have taken to make themselves aware of revant audit inforTllalion and lo establish th81 the auditors a aware of that infomatk)n. PUBLIC BENEFIT STATEMENT In setting our objectives and planning our activities for the year the trustees have given careful consideration lo the guidance provided by bod5 such as the Charity Comrni$sitsn for Northèm Ireland and HM Revenue and Customs on public benefit to ensure that the activities have helped to achieve the ¢h8rity's purposes and provide a benefit to the beneficiaries. The benefits of South Lough Neagh Regeneration Association are both clear and directly related to the charity's aims and objectives. These benefits 8re and will be demonstrated through surveys of satisfaction 8t the end of any course, increased altendance at relevant meetings and advice and guidance Sought by rnembers. The charily beneficiaries are people living in the Lough Neagh area and the surrounding areas. Approved by the Board of Trustees on 3 August 2021 and signed on its behalf by= Josep Nelson stanley Trouton Chairperson Treasurer
South Lough Neagh Regeneration Association IA ¢omparty limlted by guarantee, not having a share Capital) STATEMENT OF TRUSTEES, RESPONSIBILITIES for the finand81 year ended 31 December 2020 The trustees, who are also directors of South Lough Neagh Regen&ralion Asso¢i81ion for the purpose$ of company law, are responsible for preparing the financial slalements in 8ccordance with appluble and regulations. Cornpany 18w requires the Iruslees 88 the directors lo prepare financial statements for each financial year. Under that law the trustees have elected to prepare the finanaal statements in accordance with United Kingdom Generally A¢pted Accounting Practi (United IngdoM Accounting Standards and applic8ble law} induding FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entiliesl. Undet company law the trustees must not approve the ffinancial statements unless thèy ar8 satisfièd that they give a Iw8 and fair view of the slate of affairs of the company and of the surplus or defiat of the company for that period. In preparing these financial statements, the trustees are required to.. select suitablè accountirlg policies and apply Ihern consislenlly., make judgements and estimates that are reasonable and prudent., state whether the financial statemènts havè been prepared In a¢¢ordance with the revant fin8nrial reportirrfJ framework. identify those standards, and note the effect and the reasons lor any material departure from those standards., and prepare the finanaal 51alernenls on the going conTrm basis un1&86 it is inappropriate lo presume that the company will continue in operation. The trustees confirm that they have complled wSth the above roqulremenls In preparfng the fjnanclal Slalements. The tnjstees are responsible lor keeping adequate accounting records that are sufficient to show and 8xplain the companV5 transaction5 and disclose with reasonable accuracy * any lime the financial pos11ion of the company and enable them to ensure that the financial statements comply wth the Charrties Act 2011. They ale also responsible lor safeguarding the assets of the company and hence for laklng reasonabl& slep$ for the prevention and detection of fraud and other Irregularities. Approved by the Board of Trustees on 3 August 2021 and signed on its behalf by: Josep Nelson Stanley Trouton Chairperson Treasurer
South Lough Neagh Regeneration Association IA Company limlted by guarantee, not having a share capital) INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF SOUTH LOUGH NEAGH REGENERATION ASSOCIATION We have exarllined the financial stslemenls of the company for the financi81 year ended 31 December 2020, which comprise the Statement of Financial Activities lincorporating an Income and Expenditure Accounll, the Balance Sheet 8nd the related notes. Respectivè rasponsibilities of tru$tee$ and examiner The company's trustees (who are also the directors ol the company for the purposes of cornpany 18wI a responsible for the preparation of the financi81 staternents in accordance with the requirements of the Companies Act 2006. The company's Irustees consider that an audit is not required for this financial year and that an independent examinatFon is required. 11 Is our re$ponsibllity lo.. examine the financial statements under section 145 olthe Act; and state whether partiojlar matters have come to our attention. Basls of Independent examlner's report Our examination was carried out in accordan with the general Direction5 given by Ihe Charity CommissSon. An examination includes a review of the accounting CordS kept by the company and a comparison of the financial slalerNenls presented with those rerds. It 8150 include5 considgralion c>f any unusual itèms or disclosures in the financial statements and seeking explanations from the trustees conceming any such marters. The procedures undertaken do not provide all the evidence that would be iequired in an audit and consequently no opiniori is given as lo whether the 8¢counls present a 'lrue and fairf view and the report is limil¢d to those matters sel out in the statement below. Independènt éxaminerf¥ statement In connection wlh our examination, no matter has come to our attention whlch glves us ¢ause to believe that in, any material respect.. accounting records were not kept in accordance with section 386 of the Companie5 Act 2CMJ6 the financial statements do not accord with those accounting records the financial staternents do not comply with the accounting requirements of Ihe Charities Act the financial statements have not been prepared in accordance with the Stalernenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS1021 there 15 further irrform8fy.on needed for a proper under5tsnding of the accounts tts be leached. We have no conce should e drawn i and havo ¢orne across no other matters in connecb.on with the éxamination to which attention Ihis,report in order to enable a proper understanding of the financial slalemeTts lo be reached. DAL ARK & COMPANY LTD CheAered Accountants 4 Carnegie Street Lurgan Co. Armagh BT68 6AS Northem Ireland Date: 3 August 2021 1Q
South Lough Neagh Regeneration Association IA company limited by guarantee, not having a share capltall STATEMENT OF FINANCIAL ACTIVITIES Ilncorporatlng an Income and Expenditure Account) foi the financial year ended 31 Oecember 2020 Unrestricted Restricted Fund8 Funds 2020 2020 Totsl Unreslricled Restricted Funds Funds 2019 2019 Total 2020 2019 Note8 Ineomlng Resoure89 Voluntary Income Activities for g8neratin9 funds Investments 20,831 33,721 69,734 90,56S 33.721 203.380 203,380 37,070 37.070 17 17 19 19 Total incoming r•sourc8S 54,569 69,734 124,303 37.089 203,380 240,489 Resources Expended Chantable activities 39,S04 57,975 97,479 4,200 201.275 205.475 Nèt ineomingloutgoing resources before transfers Gross transfers between funds 15,065 11.759 26,824 32,889 2.105 34,994 5,956 15,9561 Net movement in funds for the financial year 15,065 11,759 26,824 38.845 {3.8S11 34,994 Reconciliation of funds Balances brought forward at 1 January 2020 13 106.120 46,245 152,365 67.275 50,0 117,371 Balaneès carrfÈd forward at 31 December 2020 121.185 58.004 179.189 106,120 46.245 152,365 The Statement of Financial Activlties indudes all galns and losses ¢¢gniSed in 1he financial year. All income and Èxpenditijrg relate lo Continuing 8CtNilies. The notes on page$ 11 to 15 fom part of the flnandal $tatem8nts
South Lough Neagh Regeneration Association IA company limlted by guarantee. not havlng a sharn capltall Company Number.. NIO56142 BALANCE SHEET as al 31 December 2020 2020 2019 Notès Fixed Assets Tangible assets 7,396 8.826 CurrentAss•ts Debtors Cash at bank and in hand 10 780 174.493 4.114 142,405 175.273 146,519 Creditors: Amounts falling due within one year 11 13,4801 12,980) Net Current Assets 171,793 143,539 Total Ass8ts18ss Currant Llabilltl•s 179.189 152,365 Funds Re$lrieted trust funds Unr8slricted designated fvnds General fund luniestricted) 58,004 52,000 69,185 46,245 52,000 54,120 Total funds 13 179,189 152.365 These financial statements have been preparèd in 8¢¢ordance with the special prOon8 relating 10 3rnall companies within Part 15 of the Cornpanies Act 2006. For the financial year ended 31 December 2020 the Company was entitled lo exemption from audit under section 477 of Ihe Cornpanies Act 2006., and no notice has been deposited under section 476. The trustees confirm that the members have not required the company to obtain an audil of its financial statements for the financial year in question in accordance with section 476 (rfthe Cotnpanie5 Act 2006. The trustees a¢knowledge Ihelr SponSIbl111es for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial slalernents which give a true and fair view of the slate of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordanc6 with the requirements of sections 394 and 395 and whith otherwise wmply with the requirements of the Companie5 Act 20CkS relating lo financial stalernents, so far as applicable to the company. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the srnall u)mpanies' regime and in accordance with FRS 102 "The Financial Rewrting Standard applicable in the UK and Republic of Ireland" applying Section 1A of that Standard. Approved by the Board of Trustees and authorised for issue on 3 August 2021 and signed on its behalf by Joseph Nelson Stanley Trouton Chairperson Trea5urgr The notes on pages 11 to 15 form part of the finan¢*l statements 12
South Lough Neagh Regeneration Association IA company Ilmlted by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the finanaal year ended 31 Dember 202 GENERAL INFORMATION South Lough Neagh Re9eneralion AssoGialion 1$ a cornpany limitÉd by guarante8 incorporatèd in the United Kingdorn. The registered office of the company is 1 Maghery Business Centre, Maghery Road, Dungannon, Co Tyrone. BT71 SPA. Northem Irelarhd which is also the principal place of business of the cornpany The financial statements have been presented in Pound Slerfing {£) which is also the fundional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following arxounling policies have been applied consislenlly in dealing wilh iterns which are considered material in relation to the charity's financial statements. Statement of compliance The financial statements of the company for the year ended 31 December 2017 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice ISORPI Accounting and Reporting by Gh8ritie$ preparing their accounts in a¢¢ord8n¢e with the Flnanclal Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 (effective 1 January 20151" and FRS 102 'The Financi81 Rerx)rtiry Standard applicable in the UK and Republic of Ireland" applying Sectlon 1A of that Standard. Incoming Rèsources Voluntary income or capital is incltjded in the Statement of Financial Activth'es when the company 15 legally enliued to it. financi85 value can be quantified with reasonable certainty and theré is reasonable certainty of its ultimate receipt. Entitlement to legacies is considered established when the company has been notified of a disliibution lo bè made by the executors. Income receivèd in advance of duè porforman under contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal entidement have been met. All other income is accounted for on an 8¢¢wals ba81$. Resources Expended All resources expended are accounted for on an accruals basis. ChaTltable activities include costs of services and grants, support costs and depreciatit>n on ielated assets. Costs of generating funds similarty include fundraising activities. Non-slaff costs not attributed lo one category of activity are allocated OT apportioned pro-rata to the staffing of the relevant service. Finance, HR, IT and administrative staff costs are directly attributablg 1¢ individu81 adivilies by objectiv&. Governan¢¢ costs ara thos& assoaat8d with conslilutK>nal and statutory requirements. Tanglblè fixed assets and dèprèclatlon Tangible fixed assets are slated al cost or al valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible )Ixed assets, less their estimated residual value. overtheir expected useful lives as follows. Land and buildings freeho Fixtures, fittings and equipment 4% Straight line 200/0 Straight line D*btors Debtors are recognised al the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Income recognised by the company from government agenaas and othèr c[UndSrs, bul not rècèiv8d at yèar ènd, is includèd in debtois. cash at bank and In hand Cash al bank and in hand comprises cash on deposit al banks requiring le55 than three months notice of withdrawal. 13
South Lough Neagh Regeneration Association IA company limitÈd by guarantee, not having a 5harg capital) NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 December 2020 Taxatlon and defarr8d taxatlon No current or defeired taxation 8rise5 as the company has been granted charitsble exemption. Irrecoverabl& valued added lax 13 expensed as inujrred. Deferred tax is recognised in respect of all ts'rning differences that have originated bul not reversèd at thé balance sheet date where transactions or events have occurred at that date that will result in an obligation lo pay more tax in the future. or a right lo pay less lax in the fulure. Timing differences are temporary differences beeen the company's taXae InMe and Its sUltS as stated In the financial statements. Deferred tax is measurèd on an undiscounted basis at the tsx rate$ that ale antieipatèd lo apply in the periods in which the timing differen$ are expected to reverse. based on tax rates and laws that have been enacted or substantively enacted by the balance Sheet date. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Fund8 2020 2019 Grants Received 20,831 69,734 go,5 203,380 OTHER TRADING ACTIVITIES Unrestricted Restricted Funds Funds 2020 2019 Matched l Earraed Income 33,721 33,721 37,070 3.3 INVESTMENTS untrIcted Rostrictsd Fund5 Funds 202Q 2019 Investmenis 17 17 EXPENDITURE CHARITABLE ACTIVITIES Dirèet Costs Othèr Costs Support Costs 2020 2019 Charitable expenditure 96,049 1,430 97,479 205,475 ANALYSIS OF DIRECT COSTS 2020 2019 Project Cost Wages & Salariès Premises Costs 11,084 52,954 9.611 65,058 107,573 11,252 Other Costs 96,049 204.044 NET INCOMING RESOURCES 2020 2019 Net In¢oming Resources are stated after chargingllcreditingl: Depreciation of tangible assets 1,430 1.431 14
South Lough Neagh Regeneration Association IA cornpany limited by guarantee. not havin9 a share capilall NOTES TO THE FINANCIAL STATEMENTS continusd for the financial year ended 31 December 2020 INVESTMENT AND OTHER INCOME 2020 2019 CJRS Claims Bank interest 20,831 17 19 20.848 19 EMPLOYEES AND REMUNERATION The stsff costs comprise.. 2020 2019 Wage5 and salaries Pènsion costs 50,744 2,210 105,772 1.751 S2,954 107,523 TANGIBLE FIXED ASSETS Land and Fixtures. buildings fittings and freehold ¥quipment Total Cost At 31 December 2020 7.440 19.242 26,682 Depreciation Al 1 January 2020 Charge for the financial year 1,197 298 16,665 1.132 17,856 1,430 At 31 Decernber 2020 1.489 17,797 19.28S Net book value Al 31 December 2020 5,951 1,44S 7,396 At 31 D8cembor 2019 6,249 2,577 8,826 10. DEBTORS 2020 2019 Amounts owed by connected partiès 780 4,114 11. CREDITORS Amounts falllng due wlthln one year 2020 2019 Taxation and social security costs Accruals and deferred income 80 2.900 3.480 3.480 2,980 15
South Lough Neagh Rggeneration Association IA company limitsd by guarantee, not having a $har¢ ¢apitsll NOTES TO THE FINANCIAL STATEMENTS conb'nued for the financial year ended 31 December 2020 12. RESERVES 2020 2019 Al 1 January 2020 Surplus foi the financial year 152,365 26,824 117,371 34.994 At 31 December 2020 179,189 152.365 13. FUNDS 13.1 RECONCILIATION OF MOVEMENT IN FUNDS UnTestTiCted Restri¢ted Funds Funds Total Funds At 1 January 2019 Movement during the finanaal year 67,275 38,845 50,096 13,8511 117,371 34,994 Al 31 Decernber 2019 Mov8manl during the financial year 106,120 15,065 46.245 11,759 152,365 26,824 Al 31 December 2020 121,185 58,004 179.189 13.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2020 Income Expenditure Transfers Balan¢e between 31 De¢ember funds 2020 Restricted funds Arniagh Cty, Banbridge & Craigavon District CouncAI Big Lottery Peace Fund BBC Comic Relief I Communtiy Foundation Safefood CDHN Pharmacy Heritage Lottery 2.217 10,460 11,202 1,475 14,836 4,528 8,000 10,767 35,307 9,181 15,295 3.062 13.655 32.245 1,2 4.000 1,291 3,279 14,66S 1911 721 9,999 24,664 46.245 69.734 57,975 58,004 Unrestricted funds Contingency Reserye Designated Reserves Unrestricted General 32,000 20,000 54,120 32,OL 20,0(7 69,185 54,569 39,504 106.120 39,504 121.185 Total fLÉnds 152,365 124,303 97,479 179,189 16
South Lough Neagh Regeneration Association IA company Ilrnited by guarantse, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS continued for tha finanaal year 8ndad 31 Dè¢8mber 2020 STATUS The company is limited by guarantee not having a share capital. The liabilty of the mernbers is lirniled. Every member of the company undertakes to conlribute to the assets of the company in the event of its being wound up while they are membeis, or within one year thereafter, for thè payrnent of the debts and liabilities of the company contracted before they aSed to be members, and Ihe costs, charges and expenses of winding up, and for the adjustment of the rights of the Contributo among themselves. such amount as may be required. not exceeding £ 1. 15. POST-BALANCE SHEET EVENTS There have been no significant events affeth'ng the Charity Sin the financial year-end. 17