CHARITY REGISTRATION NUMBER.. NIC106771 Ederney Community Development Trust Unaudited Financial Statements 31 March 2023 SP MCCAFFREY & CO Chartered accountants 50 Campsie Road Omagh Co Tyrone BT79 OAG Ederney Community Development Trust Financial Statements Year ended 31 March 2023 Page Trustees, annual report Report to Ederney Community Development Trust on the unaudited financial information Statement of financial activities Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 15 Notes to the detailed statement of financial activities Ederney Community Development Trust Trustees, Annual Report Year ended 31 March 2023 The trustees present their report and the unaudited financial slalemenls of the charity for the year ended 31 March 2023. Reference and administrative detai Is Registered charity name Ederney Community Development Trust Charity registration number NIC106771 Principal offic6 The Townhall 2 High Street Ederney Enniskillen The trustees Mrs Collette Mc Hugh Treasurer Mr Dessie Cassidy Mr Sean Donnelly Dr Anne Monaghan Mr Donal Carron Secretary Mr Cormac Mc Kervey Mr Gerard Gallagher Mr Martin Monaghan Chairperson Rev Francis Gerard Mc Manus Mr Declan Deazley Mr Patrick Martin Gallogley Accountants SP Mccaffrey & Co Chartered accountants 50 Campsie Road Omagh Co Tyrone BT79 OAG Ederney Community Development Trust Trustees, Annual Report (¢ontinuedJ Year ended 31 March 2023 Structure, governance and management Governing Document Ederney Community Development Trust is a registered Charity and does not have a share capital. The Trust is governed by ils Mernorandum of Articles of Association. The Trust is Recognised as a charity Principle Activity The Principle Activity is lo Promote Social and Economic Development lo Provide Education and Training Opportunities to People of Surrounding areas Recruiting and Appointing New Members The method of Selection for all new members is through appointment by existing board members. Training of New Board Members There is Board Member Induction Training provided Decision Making The Board of Iruslees are responsible for overall decision making on legal & financial management policies, they meet once a month where new policies and stralegies are implemented. Statement of Risks The main risk lo the charity is to be adequately funded lo continue with the level of service provided lo the inhabilanls and safeguarding of any employment it may create in local area. Objectives and activities The Charity shall promote Social and Economic Development to provide education and training opportunities to people of surrounding areas Achievements and performance Review of Performance against Objectives The board of Iruslees continue the process of Self Assessment against the qLJality management procedures Financial review Review of Business Ederney Community Development Trust is non-profit making with the net outgoing resources of £21,516 for the year. The Management conlinLJes lo be engaged in ongoing efficiency savings and Is aware of the sustainable use of resources. Reserves Policy The Trustees have set up a reserves policy which requires that the reserves be maintained al a level which ensures that the core activities could continue during a period of unforeseen difficulty. The Trustees aspire lo retain £5000 and will endeavour lo reach this figure in the next few years. The Charity reviews this Policy every year. Plans for future periods The Trust plans for the future is lo continue lo provide local areas with their services. Ederney Community Development Trust Trustees. Annual Report (continued) Year ended 31 March 2023 The Iruslees. annual report was approved on 6 December 2023 and signed on behalf of the board of Iruslees by.. Mr Martin Monaghan Chairperson Trustee Charity Secretary Ederney Community Development Trust Report to Ederney Community Development Trust on the Unaudited Financial Information of Ederney Community Development Trust Year ended 31 March 2023 As described on the statement of financial position, the Iruslees of the charity are responsible for the preparation of the financial statements for the year ended 31 March 2023, which comprise the slalemenl of financial aclivilies, slalemenl of financial position and the related notes. You consider that the charity is exempt from an audit under the Charities Act (Northern Ireland) 2008. In accordance with your instructions we have cornpiled these financial slalemenls in order to assist you lo fulfil your slatulory responsibilities, from the accounting records and from information and explanations su '61ied lo us. sp CCA REY&CO Chartered accountants 50 Campsie Road Omagh Co Tyrone BT79 OAG Ederney Community Development Trust Statement of Financial Activities Year ended 31 March 2023 2023 Reslricled funds Total funds 2022 Unrestricted funds Total funds Note Income and endowments Donations and legacies Charitable activities Investment income 45,355 9,820 88 219,586 264,941 9,820 88 372,013 1,960 87 Total income 55,283 219,586 274,849 374,060 Expenditure Expenditure on charilable activities Total expenditure 33,747 219,586 253,333 369,580 33,747 219,586 253,333 369,580 Net income and net movement in funds 21,516 21,516 4,480 Reconciliation of funds Total funds brought forward Total funds carried forward 45,874 45,874 41,394 67,390 67,390 45,874 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 7 to 13 form part of these financial statements. Ederney Community Development Trust Statement of Financial Position 31 March 2023 2023 2022 Note Fixed assets Tangible fixed assets 10 1,055,244 1,128,827 Current assets Debtors Cash al bank and in hand 1,595 86,306 12,927 62,742 87,901 75,669 Creditors.. amounts falling due within one year Net current liabilities 100.960 106,211 13,059 30.542 Total assets less current liabilities 1,042,185 1,098,285 creditors.. amounts falling due after more than one year 13 974,795 1,052,411 Net assets 67,390 45,874 Funds of the charity Unrestricted funds 67,390 45,874 Total charity funds 67,390 45,874 These financial statements were approved by the board of Iruslees and authorised for issue on 6 December 2023, and are signed on behalf of the board by.. Mr Marlin Monaghan Chairperson Trustee The notes on pages 7 to 13 form part of these financial statements. Ederney Community Development Trust Notes to the Financial Statements Year ended 31 March 2023 General information The charity is a public benefit enlily and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is The Townhall, Ederney, Co. Fermanagh, BT93 ODG. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211 and the Charities Act (Northern Ireland) 2008. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investrnenl properties measured al fair value through income or expenditure. The financial slalemenls are prepared in sterling, which is the functional currency of the enlily. Going concern There are no material uncertainties about the charity's ability lo continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management lo make judgements, eslimales and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed lo be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the Iruslees lo further any of the charity's purposes. Designated fundg are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted incorne funds or endowment funds. Ederney Community Development Trust Notes to the Financial Statements (continued) Year ended 31 March 2023 Accounting policies (Continued) Incoming resources All incoming resources are included in the statement of financial activities when entillemenl has passed lo the charity., il is probable that the economic benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The following specific policies are applied lo particular categories of income., income from donations or grants is recognised when there is evidence of enlillement lo the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and enlillement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are Included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unreslricled funds unless there is a conlraclual requirement for il to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the slalemenl of financial activities to which il relates.. expenditure on raising funds includes the costs of all fundraising aclivilies. events, non-charilable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor parl of ils expenditure on charitable activities. All costs are allocated lo expenditure categories reflecting the use of the resource. Direct costs allributable lo a single activity are allocated directly lo that activity. Shared costs are apportioned between the activities they contribute lo on a reasonable, justifiable and consistent basis. Tangible assets All fixed assets are initially recorded al cost. Ederney Community Development Trust Notes to the Financial Statements (continued) Year ended 31 March 2023 Accounting policies (contirtued) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less ils residual value, over the useful economic life of that asset as follows". Long Leasehold Property Equipment Sheltered Housing 5% slraighl line 200/0 reducing balance 100/0 Straight line Impairment of fixed assets A review for indicators of impairment is carried out al each reporting dale, with the recoverable amount being eslimaled where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible lo estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit lo which the asset belongs. The cash-generating unil is the smallest identifiable group of assets that Includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated lo each of the cash-generaling units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned lo those units. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-relaled conditions on the recipient, il is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, il is recognised in income only when the performance-relaled conditions have been met. Imiere grants received are prior to satisfying the revenue recognition criteria, they are recognised as a Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset lo the extent that the prepayment will lead to a reduction in future payments or a cash refu nd. When contributions are not expected to be sellled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount Is recognised as an expense in the period in which it arises. Ederney Community Development Trust Notes to the Financial Statements (continueil) Year ended 31 March 2023 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Christmas Lights Donations GAA Contribution HMRC Job Retention Scheme GIIA Gym Insurance Donations 2,481 2,481 2,323 23,065 2,323 23.065 Grants Fermanagh Omagh District Council Christmas Lights Grant FODC D.A.E.R.A. CFNI Rural Community Network Heritage Lollery RSVP - Bannagh A.H.F. N, l. Community Relations Pears Windmill Funding Allen Lane Foundation SECAD Co-operation Ireland Keep N.1. Beautiful CFNI Education Authority Halifax 16,977 1,514 16,977 1,514 100 100 178,553 3,942 7,500 178,553 3,942 7,500 12,493 12,493 6,000 4,993 8,000 4,993 5,000 5,000 45,355 219,586 264,941 Unrestricled Funds Restricted Total Funds Funds 2022 Donations Christmas Lights Donations GAA Contribution HMRC Job Retention Scheme GAA Gym Insurance Donations 1,650 1,440 1,636 2,127 18,495 1,650 1,440 1,636 2.127 18,495 10 Ederney Community Development Trust Notes to the Financial Statements (continuedl Year ended 31 March 2023 Donations and legacies (continued) Unrestricted Funds Restricted Total Funds Funds 2022 Grants Fermanagh Omagh District Council Christmas Lights Grant FODC D.A.E.R.A. CFNI Rural Community Network Heritage Lottery RSVP - Bannagh A.H.F. N.1. Community Relations Pears Windmill Funding Allen Lane Foundation SECAD Co-operation Ireland Keep N. l. Beautiful CFNI Education Authority Halifax 5,097 974 1,495 20,000 5,000 225,227 1,058 5,097 974 1,495 20,000 5,000 225,227 1,058 1,150 9,700 1.150 9,700 10,000 10,000 29,979 3,500 12,000 29,979 5,500 12,000 3,000 11,485 5,000 2,000 3,000 11,485 5,000 40,348 331,665 372,013 Charitable activities Unreslricled Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Room Hire Slora9e 6,570 3,250 6,570 3,250 1,960 1,960 9,820 9,820 1,960 1,960 Investment income Unrestricted Total Funds Unreslricled Total Funds Funds 2023 Funds 2022 Bank interest receivable 88 88 87 87 Net income Net income is slated after chargingl{creditingl'. 2023 2022 Depreciation of tangible fixed as5els 77.616 85,458 Staff costs Ederney Community Development Trust Notes to the Financial Statements (continued) Year ended 31 March 2023 Staff costs (continued) The average head count of employees during the year was 2 {2022. 1). No employee received employee benefits of more than £60, 000 during the year12022'. Nill. Trustee remuneration and expenses no remuneration or other benefi15 from employmenl with the charity or a related entity were received by the Iruslees 10. Tangible fixed assets Land and buildings User defined asset Equipment Total Cost Al 1 April 2022 Additions 1,393,771 117,836 4,033 37,017 1,548,624 4,033 At 31 March 2023 1,393,771 121,869 37,017 1,552,657 Depreciation Al 1 April 2022 Charge for the year At 31 March 2023 314,954 67,978 72,637 4,827 32,206 4,811 419,797 77,616 382,932 77,464 37,017 497,413 Carrying amount At 31 March 2023 1,010,839 44,405 1,055,244 Al 31 March 2022 1,078,817 45,199 4,811 1,128,827 11. Debtors 2023 2022 Vat Repayable 1,595 12,927 12. Creditors: amounts falling due within one year 2023 2022 Bank loans and overdrafts Trade creditors Grants In Advance Ederney Community Development Ltd 1,295 3,306 72.066 24,293 1,684 18,748 63,196 22,583 100,960 106,211 13. Creditors: amounts falling due after more than one year 2023 2022 Accruals and deferred income 974,795 1.052,411 12 Ederney Community Development Trust Notes to the Financial Statements (Continued) Year ended 31 March 2023 14. Deferred income 2023 2022 Al 1 April 2022 Amount released lo income Amount deferred in year At 31 March 2023 1,052,411 {77,6161 1 171 140 1130.7291 12,000 974,795 1,052,411 15. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation lo defined onlribulion plans was £1,04912022'. £Nill. 16. Government grants The amounts recognised in the financial slalemenls for government grants are as follows.. 2023 2022 Recognised in creditors.. Deferred government grants due after more than one year 974,795 1.052,411 13 Ederney Community Development Trust Management Information Year ended 31 March 2023 The following pages do not form part of the financial statements. 14- Ederney Community Development Trust Detailed Statement of Financial Activities Year ended 31 March 2023 2023 2022 Income and endowments Donations and legacies Christmas Lights Donations GAA Contribution HMRC Job Retention Scheme GAA Gym Insurance Donations Fermanagh Omagh District Council Christmas Lights Grant FODC D.A.E.R.A. CFNI Rural Community Network Heritage Lottery RSVP- Bannagh A.H.F. N.1. Community Relations Pears Windmill Funding Allen Lane Foundation SECAD Co-operation Ireland Keep N.1. Beautiful CFNI Education Authority Halifax 2,481 1,650 1,440 1,636 2.127 18,495 5,097 974 1,495 20,000 5,000 225.227 1,058 2,323 23,065 16,977 1,514 100 178,553 3,942 7,500 1,150 9,700 10,000 12,493 6,000 4.993 29,979 5,500 12,000 3,000 11,485 5,000 5,000 264,941 372,013 Charitable activities Room Hire Storage 6,570 3,250 1,960 9,820 1.960 Investment income Bank interest receivable 88 87 Total income 274,849 374,060 15 Ederney Community Development Trust Detailed Statement of Financial Activities (continuedl Year ended 31 March 2023 2023 2022 Expenditure Expenditure on charitable activities Projects and Events Wages and salaries Pension costs Rates and water Light and heat Repairs and maintenance Insurance Other motorllravel costs Accountancy fees Telephone other office costs Amortisation Depreciation Interest on bank loans and overdrafts Christmas Lights Costs Bank Fees Grounds Renovations Heritage Building Project Consultancy fees Donations 23,888 22,759 1,049 159 3,026 105 4,327 209 1,285 1,214 225 177.6161 77,616 37 2,518 322 52,136 4,547 463 662 2,995 3,384 1,180 702 185,4581 85.458 917 229 21,263 271,109 1,500 8,493 189,901 1,820 489 253,333 369,580 Total expenditure 253,333 369,580 Net income 21,516 4,480 16 Ederney Community Development Trust Notes to the Detailed Statement of Financial Activities Year ended 31 March 2023 2023 2022 Expenditure on charitable activities General Activities Activities undertaken directly Projects and Events Direct charitable activity 1 wageslsalaries Direct charitable activity 1 rates & water Direct charilable activity 1 light & heat Direct charitable activity 1 repairs & maintenance Direct charitable activity 1 insurance Direct charitable activity 1 Accounts Direct charitable activity 1 telephone Direct charitable activity 1 amortisation Direct charitable activity 1 depreciation Direct charitable aclivity 1 interest on bank loans and overdrafts Christmas Lights Costs Bank Fees Grounds Renovations Heritage Building Project Consultancy fees Donalions 23,813 1,195 159 3,026 52,136 4.547 463 662 2.995 3.384 1,180 702 (85,4581 85,458 4,327 1,285 1,214 {77,6161 77,616 37 2,518 291 917 229 21.263 271,109 1,500 8,493 189,901 1,820 489 230.075 369,580 Pat Murphy Activities undertaken directly Direct charitable activity 2 - Projects and Events Direct charitable activity 2 - wageslsalaries Direct charitable activity 2 - pension costs Direct charitable activity 2 - repairs & maintenance Direct charitable activity 2 - other molorllravel costs Direct charitable activity 2 - other office costs Direct charitable activity 2 - Ban k fees 75 21,564 1.049 105 209 225 31 23,258 Expenditure on charitable activities 253.333 369,580 17