2024-12-31-accounts - South Lough Neagh Regeneration Association

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Company Registration Number: NI056142 Charity Number: 106325

South Lough Neagh Regeneration Association

(A company limited by guarantee, not having a share capital)

Annual Report and Unaudited Financial Statements

for the financial year ended 31 December 2024

Daly Park & Company Ltd Chartered Accountants 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland

South Lough Neagh Regeneration Association (A company limited by guarantee, not having a share capital) CONTENTS

	Page
Trustees' and Other Information	3
Trustees' Annual Report	4 - 6
Statement of Trustees' Responsibilities	7
Independent Examiner's Report	8
Statement of Financial Activities	9
Balance Sheet	10
Notes to the Financial Statements	11 - 155

South Lough Neagh Regeneration Association (A company limited by guarantee, not having a share capital) TRUSTEES' AND OTHER INFORMATION

Trustees

Jacinta Cusack Michela Cusack Alan John Emerson (Resigned 3 January 2024) Hazel Guiney (Resigned 1 January 2024) Conor Martin Jordan (Resigned 13 August 2024) Joseph Nelson Joan Patricia Aldridge Mairead Abraham Frances Kerr

Charity Number in Northern Ireland

106325

Company Registration Number

NI056142

Registered Office 1 Maghery Business Centre Maghery Road Dungannon Co Tyrone BT71 6PA Northern Ireland Principal Address 1 Maghery Business Centre Maghery Road Dungannon Co. Tyrone BT71 6PA Northern Ireland

Independent Examiner

Daly Park & Company Ltd Chartered Accountants 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland

Principal Bankers

Bank of Ireland 43 High Street Portadown Co. Armagh BT62 1HY Northern Ireland

South Lough Neagh Regeneration Association (A company limited by guarantee, not having a share capital) TRUSTEES' ANNUAL REPORT

for the financial year ended 31 December 2024

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 2024.

The financial statements are 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 Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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 its purpose, governance, activities, achievements and finances for the financial financial year 31 December 2024.

The charity is a registered charity and hence the report and results are presented in a form which complies with the requirements of the Companies Act 2006 and, although not obliged to comply with the Statement of Recommended Practice (Charities SORP effective January 2015), the organisation has implemented its recommendations where relevant in these financial statements.

Principal Activity

To attract and encourage investment in the economic, social and environmental well being of the Shores of Lough Neagh.

Financial Results

At the end of the financial year the charity has assets of £96,106 (2023 - £125,767) and liabilities of £1,842 (2023 - £171). The net assets of the charity have decreased by £(31,332).

Principal Risks and Uncertainties

Our Mission

To attract and encourage investment in the economic social and environmental well being of southern shores of Lough Neagh; to generate activity, employment, enthusiasm and pride in the community.

Chairmans Report 2024

Overall, SLNRA continues to provide much needed service to those living in the South Lough Neagh rural areas and continues to engage with the community on a weekly basis; we continue to work in partnership with other charitable organisations, groups and community representatives and are part of the NI wide Healthy Living Centre Alliance and hold Healthy living Centre status. We also continue to have strong links with the Communities Dept. of ABC Council from whom we receive our core funding. Continued budget issues in Council, has meant that all organisation in the community/voluntary sector have had their core funding reduced.

All well being programmes listed below were face to face to support to the people living in rural SLNRA area. Heritage 4 Health Programme continued in 2024 with an additional 10 week programme highlighting workshops to help participants maintain physical, mental and emotional health for example, Chinese medicine cooking demonstration, traditional crafts, Chi Qong, traditional dancing and an end celebration. This group bonded so well and feedback was continued connections, so, we now have a successful established rural Weekly walk group.

We also worked in partnership with Bryson Group electricity Jan- end March 2024 assisting rural people from low incomes claim their eligible payment as well as promoting this. Our Schools Programme continued in 2024 involving Art therapy in 5 rural primary schools for 6 weeks in each school focusing on supporting children’s mental and emotional well being. Our TAK£500 support from ABC Council in 2024 enabled us to run A Chill Out Relax Project for teens and families which was well received and feedback proving this would be very welcome again in the future. This was in partnership with Maghery, Derrytrasna, Derrymacash and Aghagallon youthclubs.

Towards the end of 2024, we successfully benefited from Healthy Living Alliance funds for a Garden visit and historical tour of Newcastle which combated isolation, created new connections and much needed social outlet.

General Management

On the general management and governance requirements we continue to meet our statutory duties in relation to the business. The Board continues to meet regularly, where a considerable time and effort is spent managing the issues that have challenged us over the past few years. These have been well documented and as such are a hindrance to the organisation’s development. In the coming year we will continue to focus on our core delivery as already described. It is a key objective going forward to rejuvenate and refocus our business so that we become less reliant on traditional sources of income.

South Lough Neagh Regeneration Association (A company limited by guarantee, not having a share capital) TRUSTEES' ANNUAL REPORT

for the financial year en ded 31 December 2024

Joe Nelson Chairman,

Structure, governance and Management

Governing Document

South Lough Neagh Regeneration Association is a company limited by guarantee governed by its 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 to 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 Access to Basic Health & Well-being project to support its application to the Big Lottery - Connecting Young Families Programme. This application 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 director may be eligible for appointment if 21 days before the Annual General Meeting, written notice is deposited with the registered office of the intended proposal, signed by a member and signed by the person to be proposed, so as to indicate their willingness to 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 performance of the charity. Directors are 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 establishment of systems and procedures to mitigate those risks identified and the implementaion of procedures designed to minimise any potential impact on the company.

Trustees

The trustees who served throughout the financial year, except as noted, were as follows:

In accordance with the Articles of Association, the directors retire by rotation and, being eligible, offer themselves for re-election.

Compliance with Sector-Wide Legislation and Standards

The charity engages pro-actively with legislation, standards and codes which are developed for the sector. South Lough Neagh Regeneration Association subscribes to and is compliant with the following:

The Companies Act 2006
The Charities SORP (FRS 102)

Financial Review & Reserves Policy

The charity, with the aid of sound financial management and the support of both its staff and volunteers, generated a positive financial outcome for the year, given the current economic climate.

Reserves Policy

South Lough Neagh Regeneration Association

(A company limited by guarantee, not having a share capital) TRUSTEES' ANNUAL REPORT

for the financial year ended 31 December 2024

The Board has examined the charity's requirements for reserves in light of the main risks of the organisation. It believes the charity should hold reserves because the organisations significantly dependent upon grant income which can be subject to fluctuation and requires protection against, and the ability to continue operating despite, catastrophic or lesser but damaging events. The Board believes that the minimum level of unrestricted designated reserves should be between £50,000 and £60,000. The level of resources will be calculated and reviewed annually and will be built up to the desired level in stages consistent with the charity's overall financial position and its need to maintain and develop its charitable activities.

Statement as to disclosure of information to independent examiners

In so far as the trustees are aware:

There is no relevant audit information of which the charitable companys' auditors are unaware;and
The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

PUBLIC BENEFIT STATEMENT

In setting our objectives and planning our activities for the year the trustees have given careful consideration to the guidance provided by bodies such as the Charity Commission for Northern Ireland and HM Revenue and Customs on public benefit to ensure that the activities have helped to achieve the charity's purposes and provide a binefit to the benficiaries. The benefits of South Lough Neagh Regeneration Association are both clear and directly related to the charity's aims and objectives. These benefits are and will be demonstrated through surveys of satisfaction at the end of any course, increased attendance at relevant meetings and advice and guidance sought by members. The charity beneficiaries are people living in the Lough Neagh area and the surrounding areas.

Approved by the Board of Trustees on 15 September 2025 and signed on its behalf by:

Joseph Nelson Trustee

South Lough Neagh Regeneration Association (A company limited by guarantee, not having a share capital) STATEMENT OF TRUSTEES' RESPONSIBILITIES

for the financial year ended 31 December 2024

The trustees, who are also directors of South Lough Neagh Regeneration Association for the purposes of company law, are responsible for preparing the financial statements in accordance with applicable law and regulations.

Company law requires the trustees as the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period.

In preparing these financial statements, the trustees are required to:

select suitable accounting policies and apply them consistently;
make judgements and estimates that are reasonable and prudent;
state whether the financial statements have been prepared in accordance with the relevant financial reporting framework, identify those standards, and note the effect and the reasons for any material departure from those standards; and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The trustees confirm that they have complied with the above requirements in preparing the financial statements.

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Board of Trustees on 15 September 2025 and signed on its behalf by:

Joseph Nelson Trustee

South Lough Neagh Regeneration Association (A 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 2024, which comprise the Statement of Financial Activities (incorporating an Income and Expenditure Account), the Balance Sheet and the related notes.

Respective responsibilities 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 statements in accordance with the requirements of the Companies Act 2006. The charity's trustees consider that an audit is not required for this financial year under Chapter 3 of Part 16 of the Companies Act 2006 and that an independent examination is required.

It is our responsibility to:

examine the financial statements under section 65 of the Charities Act;
follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
state whether particular matters have come to our attention.

Basis of independent examiner's report

We have examined your charity financial statements 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 Northern Ireland under section 65(9)(b) of the Charities Act. 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 statements and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection 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 Companies Act 2006
the financial statements do not accord with those accounting records
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 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102)
there is further information needed for a proper understanding of the accounts to be reached.

We have no concerns and have come across no othe r matters in connection with the examination to which attention should be drawn in this report in order to enable a pro per understanding of the financial statements to be reached.

DALY PARK & COMPANY LTD

Chartered Accountants 4 Carnegie Street Lurgan Co. Armagh BT66 6AS Northern Ireland

Date: 15 September 2025

South Lough Neagh Regeneration Association (A company limited by guarantee, not having a share capital) STATEMENT OF FINANCIAL ACTIVITIES

(Incorporating an Income and Expenditure Account)

for the financial year ended 31 December 2024

----- Start of picture text -----
||||||||| |---|---|---|---|---|---|---|---| |Unrestricted|Restricted|Total|Unrestricted|Restricted|Total| |Funds|Funds|Funds|Funds|Funds|Funds| |2024|2024|2024|2023|2023|2023| |Notes|£|£|£|£|£|£| |Incoming Resources| |Voluntary Income|3.1|1,997|43,098|45,095|791|32,218|33,009| |Activities for generating|3.2|284|-|284|3,303|-|3,303| |funds| |Investments|3.3|393|-|393|105|-|105| |�� | |Total incoming resources|2,674|43,098|45,772|4,199|32,218|36,417| |�� | |Resources Expended| |Charitable activities|4.1|43,924|33,181|77,105|30,670|54,861|85,531| |�� | |Net incoming/outgoing|(41,250)|9,917|(31,333)|(26,471)|(22,643)|(49,114)| |resources before transfers| |Gross transfers between|1,246|(1,246)|-|-|-|-| |funds| |�� | |Net movement in funds for|(40,004)|8,671|(31,333)|(26,471)|(22,643)|(49,114)| |the financial year| |Reconciliation of funds:| |Total funds beginning of the|13|112,137|13,460|125,597|138,607|36,103|174,710| |year| |�� | |Total funds at the end of|72,133|22,131|94,264|112,137|13,460|125,597| |the year| |�� |

----- End of picture text -----

The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities.

The notes on pages 11 to 15 form part of the financial statements

South Lough Neagh Regeneration Association

(A company limited by guarantee, not having a share capital) Company Number: NI056142 BALANCE SHEET

as at 31 December 2024

		2024	2023
	Notes	£	£
Fixed Assets
Tangible assets	9	4,884	5,438
		��	��
Current Assets
Debtors	10	258	7,916
Cash at bank and in hand		91,222	115,543
		��	��
		91,480	123,459
		��	��
Creditors: Amounts falling due within one year	11	(2,100)	(3,300)
		��	��
Net Current Assets		89,380	120,159
		��	��
Total Assets less Current Liabilities		94,264	125,597
		��	��
Funds
Restricted trust funds		22,131	13,460
Designated funds (Unrestricted)		57,131	90,000
General fund (unrestricted)		15,002	22,137
		��	��
Total funds	13	94,264	125,597
		��	��

These financial statements have been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

For the financial year ended 31 December 2024 the charity was entitled to exemption from audit under section 477 of the Companies 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 audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the charity as at the end of the financial year and of its profit and loss for the 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 charity.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting 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 15 September 2025 and signed on its behalf by

Joseph Nelson Trustee

The notes on pages 11 to 15 form part of the financial statements

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 2024

1. GENERAL INFORMATION

South Lough Neagh Regeneration Association is 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, BT71 6PA, Northern Ireland which is also the principal place of business of the company The financial statements have been presented in Pound (£) which is also the functional currency of the company.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charity’s financial statements.

Basis of preparation

The financial statements have been prepared on the going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements have been prepared in accordance with the Statement of Recommended Practice (SORP) "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 permitted by the Companies Act 2006, the charity has varied the standard formats in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats are to 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 statements of the charity for the financial year ended 31 December 2024 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP) "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 Resources

Voluntary income or capital is included in the Statement of Financial Activities when the charity is legally entitled to it, its financial value can be quantified with reasonable certainty and there is reasonable certainty of its ultimate receipt. Entitlement to legacies is considered established when the charity has been notified of a distribution to be made by the executors. Income received in advance of due performance under a contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal entitlement have been met. All other income is accounted for on an accruals basis.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:

Land and buildings freehold - 4% Straight line Fixtures, fittings and equipment - 20% Straight line

Debtors

Debtors are recognised at 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 the charity from government agencies and other co-funders, but not yet received at year end, is included in debtors.

Cash at bank and in hand

Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal.

continued

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 2024

Taxation and deferred taxation

No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events have occurred at that date that will result in an obligation to pay more tax in the future, or a right to pay less tax in the future. Timing differences are temporary differences between the company's taxable income and its results as stated in the financial statements.

Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to 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 date.

3.	INCOME
3.1	DONATIONS AND LEGACIES		Unrestricted	Restricted	2024	2023
			Funds	Funds
			£	£	£	£
	Grants Received		1,997	43,098	45,095	33,009
			��	��	��	��
3.2	OTHER TRADING ACTIVITIES		Unrestricted	Restricted	2024	2023
			Funds	Funds
			£	£	£	£
	Matched / Earned Income		284	-	284	3,303
			��	��	��	��
3.3	INVESTMENTS		Unrestricted	Restricted	2024	2023
			Funds	Funds
			£	£	£	£
	Investments		393	-	393	105
			��	��	��	��
4.	EXPENDITURE
4.1	CHARITABLE ACTIVITIES	Direct	Other	Support	2024	2023
		Costs	Costs	Costs
		£	£	£	£	£
	Grant funded expenditure	74,578	-	2,527	77,105	85,531
		��	��	��	��	��
5.	ANALYSIS OF SUPPORT COSTS
					2024	2023
					£	£
	Accountancy				1,667	2,925
	Consultancy & Professional Fees				6,562	14,916
	Sundry costs				2,100	1,446
	Premises costs				11,489	10,153
	Project costs				2,142	2,586
	General office costs				3,021	2,103
	Wages and salaries				44,577	50,747
	Bank charges				206	101
	Other one off costs				4,787	-
					��	��
					76,551	84,977
					��	��

continued

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 2024

6.	NET INCOMING RESOURCES		2024	2023
			£	£
	Net Incoming Resources are stated after charging/(crediting):
	Depreciation of tangible assets		554	554
			��	��
7.	INVESTMENT AND OTHER INCOME		2024	2023
			£	£
	Bank interest		393	105
			��	��
8.	EMPLOYEES AND REMUNERATION
	The staff costs comprise:		2024	2023
			£	£
	Wages and salaries		42,703	48,757
	Pension costs		1,874	1,990
			��	��
			44,577	50,747
			��	��
9.	TANGIBLE FIXED ASSETS
		Land and	Fixtures,	Total
		buildings	fittings and
		freehold	equipment
		£	£	£
	Cost
	At 31 December 2024	7,440	20,521	27,961
		��	��	��
	Depreciation
	At 1 January 2024	2,382	20,141	22,523
	Charge for the financial year	298	256	554
		��	��	��
	At 31 December 2024	2,680	20,397	23,077
		��	��	��
	Net book value
	At 31 December 2024	4,760	124	4,884
		��	��	��
	At 31 December 2023	5,058	380	5,438
		��	��	��
10.	DEBTORS		2024	2023
			£	£
	Amounts owed by connected parties (Note 15)		-	4,787
	Taxation and social security costs		258	3,129
			��	��
			258	7,916
			��	��
11.	CREDITORS		2024	2023
	Amounts falling due within one year		£	£
	Accruals and deferred income		2,100	3,300
			��	��

continued

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 2024

12. RESERVES

					2024	2023
					£	£
	At the beginning of the year				125,596	174,710
	Deficit for the financial year				(31,332)	(49,114)
					��	��
	At the end of the year				94,264	125,596
					��	��
13.	FUNDS
13.1	RECONCILIATION OF MOVEMENT	IN FUNDS		Unrestricted	Restricted	Total
				Funds	Funds	Funds
				£	£	£
	At 1 January 2023			138,607	36,103	174,710
	Movement during the financial year			(26,471)	(22,643)	(49,114)
				��	��	��
	At 31 December 2023			112,137	13,460	125,597
	Movement during the financial year			(40,004)	8,671	(31,333)
				��	��	��
	At 31 December 2024			72,133	22,131	94,264
				��	��	��
13.2	ANALYSIS OF MOVEMENTS ON FUNDS
		Balance	Income	Expenditure	Transfers	Balance
		1 January			between 31	December
		2024			funds	2024
		£	£	£	£	£
	Restricted funds
	TAK500	-	1,000	1,000	-	-
	Porticus Leadership Grant	1,246	-	-	(1,246)	-
	Armagh City, Banbridge &	-	3,832	3,832	-	-
	Craigavon District Council
	Heritage Lottery	3,710	-	-	-	3,710
	The Rank Foundation	7,313	30,222	19,114	-	18,421
	The Community Foundation -	1,191	-	1,191	-	-
	RTE Toy Show Appeal
	Heritage 4 Health	-	8,044	8,044	-	-
		��	��	��	��	��
		13,460	43,098	33,181	(1,246)	22,131
		��	��	��	��	��
	Unrestricted funds
	Contingency Reserve	70,000	-	-	(32,869)	37,131
	Designated Reserves	20,000	-	-	-	20,000
	Unrestricted General	22,137	2,674	43,924	34,115	15,002
		��	��	��	��	��
		112,137	2,674	(43,924)	1,246	72,133
		��	��	��	��	��
	Total funds	125,597	45,772	77,105	-	94,264
		��	��	��	��	��

continued

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 2024

14. STATUS

The charity is limited by guarantee not having a share capital.

The liability 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 contributors among themselves, such amount as may be required, not exceeding £ 1.

15. POST-BALANCE SHEET EVENTS

There have been no significant events affecting the Charity since the financial year-end.

16. TRUSTEE REMUNERATION

Trustees did not receive nor waive any remuneration in the current or previous years.

17. INDEPENDENT EXAMINATION FEES

The Independent Examiners, Daly Park & Company Ltd, invoiced a fee of £1,750 plus vat for the independent examination fee for both 2024 and 2023. In addition, Daly Park & Company provide a payroll bureau service to the organisation and invoiced a total of £480 plus vat (2023 - £385 plus vat).