Company Rggistration Number.. N1056142 Charity Numbor.. 106325 South Lough Neagh Regeneration Association IA company limited by guarantee, not having a sharè eapitsll Annual Report and Unaudited Financial Statsments for the financial year ended 31 December 2023 Daly Park & Company Ltd Chartered Accountants 4 Carnegig Street Lurgan Co. Armagh BT66 6AS Northern Ireland
South Lough Neagh Regeneration Association IA company Ilmltèd by guarantee, not havlng a Sha capital) CONTENTS Page Trustees, and Olher Information Trustees, Annual Report Statement of Trustees, Responsibilities Independent Examinerfs Report Statement of Financial Activities Balance Sheet 10 Notes to the Financial Statements 11- 16
South Lough Neagh Regeneration Association {A company limitèd by guarantee, not having a share capital) TRUSTEES. AND OTHER INFORMATION Trustees Jacinta Cusack Michela Cusack Alan John Emerson Hazel Guiney Conor Martin Jordan Joseph Nelson Joan Patricia Aldridge Mairead Abraham Frances Kerr Charity Numbgr in Northern Ireland 106325 Company Registration Number N1056142 Registered Office 1 Maghery Business Centre Maghery Road Dungannon Co Tyrone BT716PA Northem Ireland Principal Address l Maghery Business Centre Maghery Road Dungannon Co. Tyrone BT716PA Northern Ireland Independent Examlner Daly Park & Company Ltd Chartered Aecounlants 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland Prfncipal Bankers Bank of Ireland 43 High Street Portadown Co. Amiagh BT62 1 HY Northorn Ireland
South Lough Neagh Regeneration Association IA company limited by guarantee, not having a share capital) TRUSTEES, ANNUAL REPORT for the financial year ended 31 December 2023 The trustees present their Trustees, Annual Report, combining the Directors, Report and Trustees, Report, and the unaudited financial statements for the financial year ended 31 December 2023. The financial statements a prepared in accordance with the Companies Act 2006. FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Chaiilies= ststemenl of Recommended Practice applicable lo charities preparing their financial slalemenls in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021. The Trustees. Report contains the information required to be provided in the Trustees, Annual Report under the Statement of Recommended Practice (SORP) guidelines. The trustees of the company are also charity trustees for the purpose of charity law and under the company's constitution are known as members of the board of trustees. In this report the trustees of South Lough Neagh Regeneration Association present a summary of ils purpose, govemance, activities, achievements and finances for the financial financial year 31 December 2023. The charity is a registered charity and henee the report and results are presented in a fomi which complies with the requirements of the Companies Act 2006 and, although not obliged to comply with the Ststemenl of Recommended Practice (Charities SORP effective January 20151. the organisalion has implernented ils recommendations where relevant in these financial statements. Financial Results Al the end of the financial year the eharity has assets of £125,76712022 - £173,788} and liabilities of £171 12022 £922}. The net assets of the charity have decreased by £149,114}. Principal Risks and Uncertalntles Our Mission To attract and encourage investment in the economic social and envir¢nmenlal well being of southern shores of Lough Neagh,. to generate activity. employment, enthusiasm and pride in the community- Achievements & performance Overall, SLNRA continue lo provide much needed Servi to those living in the South Lough Neagh rural areas and continues lo engage with the community on a weekly basis. We work in partnership with other charitable organisations, groups and community represenlalives and are part of the Nl wide Healthy Livlng Centre Allan and hold Healthy living Centre ststus. In the Maghery area, SLNRA ran a pilot, Better Days Programme a 10-week Chronic Pain Support project led by group participants steering their own health needs to cope with pain levels and lo improve daily lives. Aspects covered= Pharmacist information talk, Importan of sleep. Nutrition and cooking, meeting with MLA re health servi G.P issues and Chi Me gentle movement and Breath Awareness. The group thoroughly enjoyed this time and contact is maintained with those who attended. All olhei programmes listed below were face to face and covered services and support to the people living in rural SLNRA area. All events and programmes were much welcomed post Covid. Get Up & Discover Schools Programme delivered until July 2023 in seven primary schools encouraged outdoor engagement and learning with improvement of mental and emotional well being and resilience for children. including art therapy. This programme strengthened school relationships and community development and more importantly holistic family support. As part of this we worked in partnership to assist family wellbeing days in Aghagallon. Derrymacash and Derrylrasna. Heritage 4 Health Programme started in September 2023 which provides and highlights Heritage information talks. walks, combined with aelivilies that maintain physical, mental and emotional health for example. Chinese medicine. traditional crafts. Chi Qong and traditional dancing. We have also completed surveys in 2023 with groups and individuals in the SLNRA geographical area to assess needs, meet needs and address any gaps through engaging and offering advise in relation to these needs and potential funding streams. Ending 2023. we ran a Wintsr Empower Women programme consisting of self-defen¢e. yoga workshops and Well Being Pamper days to support women and enable netsvorks to be maintained. This was welcomed and feedback strongly Suggested a much needed support of this rurally. Therefore, SLNFIA enquired further regarding fvnding in relation to this type of support and will await news of any successful funds in 2024.
South Lough Neagh Regeneration Association IA company limitèd by guaranteè, not having a share capltal TRUSTEES. ANNUAL REPORT for the financial year ended 31 December 2023 On the general management and governan requirements we continue to meet regularly as a Board where a considerable lime and effort has been spent trying to overeome the issues described in last year s report following the loss of two service level contracts and the ongoing negotiation of our rental costs with our landlord. It is a key objective going fotward lo rejuvenate and refocus our business so that we become less reliant on traditional sources of income. Joe Nelson Chaiman. 1210412024 Structure, governance and Management Governing Document South Lough Neagh Regeneration Association is a company limited by guarantee governed by ils Memorandum and Articles of Association dated 9th August 2005. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member. The company is under the control of the Directors. who are therefore 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 services for older people in the area through the management of volunteers who deliver a Day Care Service and Befriending Scheme. The group were able to use the evaluation of the Loughshore ACSS lo Basic Health & Well-being project to support ils application to the Big Lottery - Connecting Young Families Programme. This application was successful secuiing fvnding 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 director may be eligible for appointment if 21 days before the Annual General Meeting. written noti is deposited with the registered office of the intended proposal, signed by a member and signed by the person lo be proposed, so as lo indicate their willingness lo be elected. Director induction & training New directors are briefed on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association. the Board and decision making process and recent financial perf0rnan of the charity. Direclois ale encouraged to view the Charities Commission website so as to gain a full understanding of their roles and responsibilities. Risk Management The Directors have a risk management strategy which comprises an annual review of the risks the company faces. the establishrnenl of systems and procedures to mitigate those risks identified and the implernentaion of prOdureS designed lo minimise any potential impact on the company. Tnjstees The trustees who served throughout the financial year, except as noted, were as follows: Jacinta Cusack Michela Cusack Alan John Emerson Hazel Guiney Conor Martin Jordan Joseph Nelson Joan Patricia Mdridge Mairead Abraham Frarts Kerr In accordan with the Articles of Association, the directors retire by rotslion and, being eligible, offer themselves for reelection. Compllance wlth So¢tor-Wide Leglslatlon and Standarts The charity engages pro-actively with legislation. standards and ¢odes which are developed for the se¢tor. South Lough Neagh Regeneration Association subscribes to and is compliant with the following= The Companies Act 2006 The Charitie5 SORP {FRS 102) Financial Review & Reserves Policy
South Lough Neagh Regeneration Association IA company limit¢d by guarantee, 1101 havlng a sh•re capltsll TRUSTEES. ANNUAL REPORT for the finanual year ended 31 DeMr2023 The Board has exarnined the charity's requirements for reseNes in Ivjhl of the ma¢n iisks of the organtsation. 11 believe5 the charity should hold reserves because Ihe organisations s3ne9lty dependant upon grant ino)m& wh can be subjed lo fluctuation and requires protection against. and the ability lo conb'nue operaiing despit?, catastrophic or 18sser but damaging events. The Board beIVe$ that the minimum level of conb"ngency [Ye is £70,000 which indudes an equivalent of six months, operating costs and £20,000 of deswnated reserve for potential ¢wciuring aTrJ othèr unexFecled oxts. The level of re50urc8s wll b8 calculaled and r8W9Wgd annually and wll be btsilt up to the desired level in sla consislenl with the charrty's overall fin8n¢r81 position and rts need to maifitsin and devekip its ¢haritablè actsvibgs. Statement a8 to dityclosurn of infornmtion to independ•ntexamine In so far as the trustees are aware.. - Therg is no relevant audit infomat)n ofwhith Ihe dlI13b1? companys, audilor5 are unawara'.¥nd - The twstees have laken all steps that thtry ought to havg taken to mak• themsel¥es awarn of any reknvant audit inf0mtion and to estsblth that the auditors are aware ofthat inft>rmalion. PUBLIC BENEFIT STATEMENT In seth.ng otFr objeclives and planning our activtli8s for the yèar the trustees havg given carefijl conshJeration lo lh8 guidanr prowded by bodies such as thè Charity Commissitsn for Northem Iroland and HM Revenue and Custorns on public ben&fit to ensure that tha altreS hav8 helped lo achVe the driS purposes and provKle a binefft to thè benficiaries. Thg bsnefits of South Lough Neagh R8generalton Assoa3hon are both rjear and dire* lated lo the charity's aims 8nd obj8ctives. These benefits are and will demonstrated through survèys of SatisfacOn al the end ol any r8e. in¢y¢ased attendan at revant meeting5 and advi and guidan sought by Membe The chanty benefiuaries are peopb Imng in the Lough Neagh area and th8 sum)unding areas. Approv•d by the Boanl Trustees on 2 May 2024 and Signed on Its b•half by: Jos•ph N•l8on Trusts
South Lough Neagh Regeneration Association IA company limlted by gu?rants•. not havln9 a share ¢apitsll STATEMENT OF TRUSTEES, RESPONSIBILITIES tor the finanaal year ended 31 Detsmber 2023 The Irust8es, who are also directots of South Lough Neagh Regeneran Assouab"on for the purposes ol company law. are re5pori51b for preparing the finanaal slalements in acujrdanee wth 2pplit%bk law and regulations. Company law r9quI$ the trvstees as the directors to ppare finaneial slalements f¢reBch ffnancial year. Under that law the trustees have elecied to prepare Ihe finanual ststsmeats in accordanee with United ltingdom Generally Arcepled Accounting Practi (United Kingdom Ac£A)unting Standard5 and applicab lawl induding FRS 102 The Finanoal Reporth'ng Standard applicable in the UK anfl Flepublic of Ire&nd" Seciion 1A (Small Entilie51. Under company law the trustees must not approve the finanual slaiemenls unless they ate satisf1 that Ihey givg 8 true and tslr vw of the state of affairs of the CA)mpany and of the SurUS or deficrt of the ojmpany for that pericJ. In preparing th889 finandal statsments. the trustees are requir•d to.. solect suitable aco)unb"ng policies and apply them consislentty". make judgements and e5h"males that are reasonable and prudentr. state whether the finanoal staternents have be8n prepared in accordance w¢th tha relevant finan(ial reporbng framework, identify those standardg. and note the effed and thB reasons for ony material departu from those stsndatds,- and prepare the finanrial statemanls on the going con b8sls unfess it is in8pprop¢iate to presume ihal the charity will continue in operation. The trustees o3nfirm that thgy have complièd with th8 abov• requirem&nis in preparing the financial statements. The trustees arg re5ponsiblg for keeping adequate accounting records that are suffiaent to show and explain tha tharÈVs tr3n5acbons and disdose with reasonabk 3(xurdCy at any time the finan¢ial position of tho tharity and enable them to ensurè thal the financial statements cornp with. They are also r&sponble for safaguarrling the assets of Ihe charity and hence for taknng teasonab stop$ for Ihe prevènlion and detection of fraud and other irwulafibes. Approved by th• Board ofTru81••3 on 2 May 2024 and s1gn•d on Its behalf by: os8ph Nelson TTustso
South Lough Neagh Regeneration Association IA company limited by guarantee, not having a share capital) INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF SOUTH LOUGH NEAGH REGENERATION ASSOCIATION We have examined the financial statements of the charity for the financial year ended 31 December 2023. which comprise the Statement of Financial Activities lincoiporaling an Income and Expenditure Aecounll. the Balan Sheet and the related notes. Respective responslbllities of trustees and examiner The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the financial slalements in accordance with the requirements of the Companies Act 2006. The ¢harity's trustees consider that an audit is not required for this financial year under Chapter 3 of Part 16 of the Companies Act 2008 and that an independent examination is required. It is our responsibility lo.. examine the financial stslemenls under section 65 of the Charities Act- follow the prOdureS laid down by the general Directions given by the Charity Commission for Northem Ireland under section 6519llbl of the Charities Act- and state whether particular matters have come to our attention. Basis of independent examinerfs report We have examined your charity financial slalements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under section 65(9)Ibl of the Charities ACL An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records_ It also includes consideration of any unusual items or disclosures in the financial ststements and seeking explanations from the trustees Conrning any sueh matters. The procedures undertaken do not provide all the eviden that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'lrue and fairf view and the report is limited to those matters set out in the statement below. Indgpondent examiner's statement In conneelion with our examination. no matter has come to our attention which gives us cause to believe that in, any material respect.. accounting records were not kept in accordance with section 386 of the Companie$ Act 2006 the financial statements do not accord with those accounting Tecords the financial statements have not been prepared in accordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice applieable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102} there is fvjrther information needed for a proper understanding of the ac¢ounts lo be reached. We have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this rep in order lo enable a proper understanding of the financial statements to be reached. DALY ARK & COMPANY LTD Chartered Accountants 4 Camegie Street Lurgan Co. Amiagh BT66 6AS Northern Ireland Date: 2 May 2024
South Lough Neagh Regeneration Association IA Company limitèd by guarantee, not havlng a sharè capital) STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Incorne and Expendlture Aceounti for the financial year ended 31 December 2023 Unrestricted Restrfcted Funds Funds 2023 2023 Totsl Unreslricled Restricted Funds Funds Funds 2023 2022 2022 Total Funds 2022 Incomlng Resources Voluntary Income Activities for generating funds Investments 791 3,303 32.218 33.009 3.303 420 26,110 45.075 45.495 26.110 105 105 Total Incomlng resources 4.199 32.218 36,417 26.535 45.075 71,610 Resources Expended Charitable activities 30.670 54,861 85.531 51,527 40.144 91.671 Net incomingloutgolng resources before transfers 126,471) {22,6431 (49,1141 (24,992} 4,931 120.0611 Gross transfers betsveen fvnds 5,170 15.170} Net movement in funds for the financial year (26,4711 {22,6431 {49,114) {19,822) 1239) 120,0611 Reconciliatlon of funds: Total funds beginning of the year 13 138.607 36,103 174.710 158.429 36.342 194.771 Total funds at the end of the year 112.136 13,460 125,596 138.607 36,103 174,710 The Slalement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate lo continuing aclivilies. The notes on pages 11 to 16 form part ofthe finanaal statements
South Lough Neagh Regeneration Association IA compally Ilmited by gtsar•ntse, not haAlThg a sharn eapltall Company Number. N105fjt42 BALANCE SHEET 88 at 31 Dec8mbgr 2023 2023 2022 Notss Flxèd Assets Tangible 05sets SA38 5.992 cuMntAts Debtors Cash at bank and in hand 10 7.916 115,542 B,109 163,1109 123,458 171.118 Cr•ditors: Amounts falllng dug wlthin orn yoar Nèt CurrentAssgts 13,3001 12.4001 120.158 168,718 Total •ls8ets less Currnnt Liabilitlos 125.596 174,710 Fund8 Restricted trust fund5 Designated fund5 Iunregtricted) General fttnd lunre8trictedl 13.460 90.000 22,136 36,103 48,807 Total lund8 13 125.596 174.710 These financial staiernents have been prepared in acuJrdan¢ wlh the 5pgoal provisions relating to small compan within Part 15 of the Companies Act 20C6. For the finantial year ended 31 December 2023 the charity was entitled to exemption from audrt urKler seclion 477 of the Companies Act 2006,. and no notice has been deposited under gection 476. The trustees confimi that the m¢mr$ havg nol requiTed Ihe company tci obtain an audit of its finan(ial staternenls for the financial year In question in accordance sectsin 476 ofthg Companigs Act 20C6. The trustees a¢knowWg their responsibilities for ensuring that Ihe thanty keeps accounting records which ojmp wilh secbon 386 and for preparing financial statements which gNe a true and fair view ol the stale of affairs ol the ¢h8rity as al the end of the finanaal year and of its piofrt and loss for the financial year in accordance with the iequirements ol *ions 394 8fKI 395 and which oth8M8e cvmply wilh the requiremts ol the COMpn Act 2( relats'ng to finan(ial Stsments, so far as applicable lo the cttarity. The finan¢i81 statements have been prtpared in 3rdanCe wth the pmvlsitin5 applicabb to wnpani&s sut4ect lo the small companies, regime and in accordance with FRS 102 Tr Financial Reporbng Standard applicable in the UK and Republic of Ireland" apptying Section 1A of that Standard. Approvgd by the Boafd of Truytges and author18ed for Issue on 2 May 2024 and slgned on its bghalf by Josoph Nelson Trusteg not88 on pggB¥ 11 ¢0 16 f¢rni part ollho financi ¥101M 10
South Lough Neagh Regeneration Association {A company limited by guarantee. not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 GENERAL INFORMATION South Lough Neagh Regeneratlon Association 15 a company limited by guarantee incorporated in the United Kingdom. The registered office of the company is 1 Maghery Business Centre, Maghery Road, Dungannon, Co Tyrone, 8T71 6PA, Northern Ireland which is also the principal place of business of the company The financial ststemenls have been presented in Pound 1£) which is also the functional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consistently in dealing with items which are considered material in relation lo the charity's financial statements. Basis of preparatlon The financial stslemenls have been prepared on the going concern basis under the historical eosl convention, modified lo include certain items at fair value. The financial statements have been prepared in accordan with the Slalement of Recommended Practice (SORPI "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. As pemitted by the Companies Act 2006, the charity has varied the standard formats in that act for the ststement of Financial Activities and the Balance Sheet. Departures from the standard fomats are lo comply with the requirements of the Charities SORP and are in compliance with section 4.7. 10.6 and 15.2 of that SORP. Statement of compliance The financial slalements of the eharity for the ffnancial year ended 31 December 2017 have been prepared on the going concern basis and in accordan with the Slalement of Recommended Practice ISORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. Incoming Resour¢gs Voluntary income or capital is included in the Ststemenl of Financial Activities when the charity is legally entitled lo it. its financial value can be quantified with reasonable Certainty and there is reasonable certainty of ils ultimate receipt. Enlitlemenl to legacies is considered established when the charity has been notified of distribution to be made by the executors. Income received in advance of due perfomiance under a contract is accounted for as deferred income until eamed. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. Al other income is accounted for on an accruals basis. Tanglble fixed assets and depreciation Tangible fixed assets are slated al cost or al valuation. less accumulated depreeialion. The charge to depreciation is calculated to write off the ortginal cost or valuation of tangible fixed assets. less their estimated residual value, over their expected useful lives as follows.. Land and buildings freehold Fixtures. fittings and equipment 4% Straight line 20. Straight line Debtors Debtors are recognised at the settlement amount due after any discotsnt offered. PTepaymenl$ are valued at the amount prepaid net of any trade discounts due. Income recognised by the the charity from government agencies and other ¢¢-fvnders. bul not yel received at year end. is included in debtors. Cash at bank and in hand Cash at bank and in hand comprises cash on deposit al banks requiring less than three months noti¢e of withdrawal. 11
South Lough Neagh Regeneration Association IA company limited by guarantee, not having a share capitsll NOTES TO THE FINANCIAL STATEMENTS conts'nued for the financial year ended 31 December 2023 Taxation and defgrrgd tsxation No current or deferred taxation arises as the charity has been granted charitable exempllon. Irrecoverable valued added lax is expensed as incurred. Deferred lax is ie¢ognised in respect of all timing differen$ that have originated but not reversed al the balan sheet dale where transactions or events have occurred al that date that will result in an obligation to pay more tsx in the future. or 8 right lo pay less lax in the future. Timing dIfferenS are temporary dIfferenS between the eompany's taxable income and its results as staled in the financial slalements. Deferred tsx is measured on an undiscounted basis at the tsx rates that are anticipated lo apply in the periods in which the timing differences are expected to reverse, based on tax rates and laws that have been enacted or substantively enacted by the balance sheet dale. INCOME DONATIONS AND LEGACIES Unrestricted Restrlcted Funds Funds 2023 2022 Grants Received 791 32,218 33,009 45,495 OTHER TRADING ACTIVITIES Unrestrieted Restrithd Funds Funds 2023 2022 Matched l Eamed Income 3,303 3,303 26,110 INVESTMENTS Unrestricted Restrlcted Funds Funds 2023 2022 Investments 105 105 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2023 2022 Grant funded expenditure 554 84.977 85.531 91.671 12
South Lough Neagh Regeneration Association (A company limited by guaranteè. not having a share capltal NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 December 2023 ANALYSIS OF SUPPORT COSTS 2023 2022 Accountancy Consultancy & Professional Fees Sundry costs Premise5 Costs Project costs Staff training General office costs Wages and salarE$ Bank charges Travel and subsislen 2.925 14.916 1,446 10,153 2.586 2,754 8,486 2.123 12.055 9.810 11,013 2,169 41,262 257 2,103 50.747 101 84,977 90,578 NET INCOMING RESOURCES 2023 2022 Net Incoming Resources are stated after chargingllcrediting}: Depreciation of tangible assets 554 1.093 INVESTMENT AND OTHER INCOME 2023 2022 Bank interest 105 EMPLOYEES AND REMUNERATION The staff costs comprise.. 2023 2022 Wages and salaTies Pension costs 48,757 1.990 39.952 1,310 50,747 41,262 TANGIBLE FIXED ASSETS Land and Fixtures, buildings tittings and freehold equipment Total At 31 December 2023 7.440 20.521 27.961 Dgpreciation Al 1 January 2023 Charge for the financial year 2.085 19,884 21.969 554 At 31 D¢rnber 2023 2.383 20.140 22,523 Net book valuo Al 3lDeMber 2023 5.057 381 5.438 At 31 December 2022 5,355 637 5,992 13
South Lough Neagh Regeneration Association IA company Ilmlted by guarantèè, not having a share capltall NOTES TO THE FINANCIAL STATEMENTS onlinued for the financial year ended 31 December 2023 10. DEBTORS 2023 2022 Amounts owed by connected parties {Note 15) Taxation and social security costs 4,787 3,129 4.787 3.322 7,916 8,109 11. CREDITORS Amounts talling due within one year 2023 2022 Accruals and deferred income 3,300 2,400 12. RESERVES 2023 2022 At the beginning of the year Deficit for the financial year 174,710 (49.1141 194,771 120,1A1} Al the end of the year 125,596 174.710 13. FUNDS 13.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestrieted Restricted Funds Funds Total Funds At 1 January 2022 Movement during the financial year 158,429 {19.8221 36,342 {2391 194,771 {20,0611 Al 31 Dernber 2022 Movement during the financial year 138.607 126.471) 36.103 122.6431 174.710 149.1141 At 31 December 2023 112,136 13,460 125.596 14
South Lough Neagh Regeneration Association IA company limltgd by guarantèè, not having a share capitsll NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 December 2023 13.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2023 Income Expendtture Transfers Balance bgtween 31 December funds 2023 Restricted funds Porticus Leadership Grant Amiagh City, Banbridge & Craigavon District Council Healthy Living Centre Alliance Heritage Lottery The Rank Foundation The Community Foundation- RTE Toy Show Appeal 4,000 8.418 2,754 8,418 1,246 1,800 1,800 3.710 19,000 13,393 3,710 7.313 1.191 14.000 4.000 25.687 16.202 36,103 32,218 54,861 13.460 Unra$trictgd funds Contingency Reserve Designated Reserves Unreslricled General 70,000 20,000 48,607 70.000 20.000 22,136 4.199 30,670 138,607 4,199 130,6701 112.136 Totsl fvnds 174.710 36.417 85.531 125.596 14. STATUS The charity is limited by guarantee not having a share capital. The liabilty of the members is limited. Every member of the company undertakes to contribute to the assets of the company in the event of its being wound up while they are members, or within one year thereafter. for the payment of the debts and liabilities of the company contracted before they ceased to be members, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the eonlribulors among themselves. such amount as may be required. not exedIng £ 1. 15. RELATED PARTY TRANSACTIONS The eharity ha¢J transactions with other connected parties. The following amounts are receivable at the financial year end.. Balance Movemont 2023 In financial year Balan 2022 Maximum In financial year Maghery Rural Enterprise Centre L4CE- LoughshoreAccess and Community Enterprise 4.007 780 4,007 4.787 4.787 Some of the trustees of South Lough Neagh Regineration AssociationlSLNRAI are also directors of Maghery Rural Enterprise Centre {MRECI. At the year end, an amount of £4,007 was owed from MREC in respect of eaflier years.ln addition, some of the trustees of SLNRA are also directors of LACE- Loughshore AcsS and Community Enterprise. The balan above is owed from LACE in respect of adminislralion services provided by SLNRA 16. POST-BALANCE SHE EVENTS There have been no signfficant events affecting the Charity since the financial year-end. 15
South Lough Neagh Regeneration Association IA company limited by guarantéè. not having a share capltall NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 De¢ember 2023 17. TRUSTEE REMUNERATION Trustees did not receive nor waive any remuneration in the current or previous years. 18. INDEPENDENT EXAMINATION FEES The Independent Examiners. Daly Park & Company Ltd. invoiced a fee of £1.750 plus val for the independent examination fee for 2023. This was £1,980 plus val for the previous accounting period.ln addition. Daly Park & Company provide a payroll bureau Servi lo the organisation and invoieed a total of £385 plus vat for this servi¢e in 2023. The comparative figure for this same seNice in 2022 was £420 plus vat. 16