2023-09-30-accounts - DCYC Limited

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

REGISTERED COMPANY NUMBER: NI647961 (Northern Ireland) REGISTERED CHARITY NUMBER: 107031

Report of the Trustees and

Unaudited Financial Statements for the Year Ended 30 September 2023

for

DCYC Limited

Contents of the Financial Statements for the Year Ended 30 September 2023

	Page
Report of the Trustees	1 to 3
Independent Examiner's Report	4
Statement of Financial Activities	5
Balance Sheet	6 to 7
Notes to the Financial Statements	8 to 13
Detailed Statement of Financial Activities	14 to 15

DCYC Limited

Report of the Trustees

for the Year Ended 30 September 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 September 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES Objectives and aims

The centre was established:

to provide or assist in providing or to encourage the provision of statutory or voluntary organisations with facilities for educational, recreational and leisure time pursuits with the objective of improving conditions of life for the people of Drumquin and district.
to encourage community service and community involvement.
to promote a sense of tolerance and understanding amongst the people of the Drumquin district.

Significant activities

During the year the charity offered various services such as Junior and Senior Youth Club, Adult Fitness classes, soccer club training, seasonal activities at Halloween and Christmas and meetings of local women's group thus providing a hub for local groups including young children and teenagers, giving them an opportunity to learn, grow and enjoy themselves in a social setting.

Public benefit

During the financial year to 30 September 2023, the charity continued to offer a variety of services to the local community which allowed it to deliver on its four stated purposes:

Our centre acts as a "community hub" facilitating social, educational and recreational activities. The main benefits are improved quality of life, improved health and fitness, increased social and community interaction and togetherness in a welcoming setting.
Facilitating educational classes and workshops has enabled local people to raise their educational levels, increasing awareness and enjoyment of lifelong learning.
Encouraging community service and community involvement has brought increased social and community interaction and an increase in volunteering in the local community.
The promotion of tolerance and understanding helps strengthen cross community relations in our locality.

Volunteers

The charity depends on the support of its volunteers, which is greatly appreciated. The volunteers include the trustees and others who took on roles such as Youth Leaders. The arrangements with volunteers are difficult to quantify in monetary terms and have not been recognised in the Statement of Financial Activities. The volunteers and the charity accept and agree that no contract of employment is created by these arrangements.

Page 1

DCYC Limited

Report of the Trustees

for the Year Ended 30 September 2023

FINANCIAL REVIEW

Financial position

The charity successfully applied for SECAD funding during the year to assist with general running costs and income was also received from a number of charitable activities during the year.

Principal funding sources

The principal funding sources continued to be from charitable activities held throughout the year.

Reserves policy

it is the charity's aim that any and all surpluses within each fund will be retained in reserves for future projects to enhance the local community. There are no minimum or maximum reserve amounts defined within the charity's policies. At 30 September 2023 the balance of reserves is £373,932.

Going concern

The charity's activities are entirely dependent on income from its members and services along with continuing grant aid. As a consequence, the going concern basis is dependent on the future flow of these income streams. Accordingly, the trustees have considered the reliability of these funding streams. The trustees also note that the charity first opened its doors in 2021. With additional grant funding received, the trustees are satisfied that, at the time of approving the financial statements, it is appropriate to adopt the going concern basis in preparing the financial statements.

FUTURE PLANS

The charity plan to avail of all grant opportunities available and aims to continue its current charitable activities.

STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Charity constitution

The governing document of the charity is the Memorandum and Articles of Association establishing the company under company legislation. The governing document is dated 7 September 2017.

There are no restrictions in the governing document on the operation of the charity or on its investment powers other than those imposed by charity law.

Recruitment and appointment of new trustees

DCYC Limited is a small charity based in a rural community and as such all potential trustees are from the local area. Recruitment of new trustees is by word of mouth and an active recruitment process is not undertaken as the charity is completely community driven. Potential new trustees are screened and appointed by a panel of existing trustees/members including the chairperson,

REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number

NI647961 (Northern Ireland)

Registered Charity number

107031

Page 2

DCYC Limited

Report of the Trustees

for the Year Ended 30 September 2023

Registered office

2 Manse Road Drumquin Omagh Tyrone BT78 4SD

Trustees

Sinead Healy Emer Kelly Bernadine McCrory Catherine McGale Wanda Mullan Caroline McLaughlin Kevin Agnew (appointed 20.8.23) Colette McCusker (appointed 20.8.23) Lorraine McLaughlin (appointed 20.8.23)

Company Secretary

Catherine McGale

Solicitors

Meyler McGuigan 11 High Street Omagh Co Tyrone BT78 1BA

Approved by order of the board of trustees on 17 June 2024 and signed on its behalf by:

Bernadine McCrory - Trustee

Page 3

Independent Examiner's Report to the Trustees of DCYC Limited

I report on the accounts of the company for the year ended 30 September 2023, which are set out on pages five to thirteen.

Respective responsibilities of charity trustees and examiner

As the charity's trustees (and also the directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

examine the accounts under Section 65 of the Charities Act
follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act
state whether particular matters have come to my attention.

Basis of the independent examiner's report

I have examined your charity accounts as required under Section 65 of the Charities Act and my 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. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.

My role is to state whether any material matters have come to my attention giving me cause to believe:

That accounting records were not kept in accordance with Section 386 of the Companies Act 2006
That the accounts do not accord with those accounting records
That the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006 and with the methods and principles of the Charities 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
That there is further information needed for a proper understanding of the accounts to be reached.

Independent examiner's statement

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

Rory P Gormley The Institute of Financial Accountants

17 June 2024

Page 4

DCYC Limited

Statement of Financial Activities

for the Year Ended 30 September 2023

Notes INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Youth Club Activities Lotto Membership fees Room Hire Summer Scheme Total EXPENDITURE ON Charitable activities Youth Club Activities Lotto Other Total NET INCOME/(EXPENDITURE) RECONCILIATION OF FUNDS Total funds brought forward TOTAL FUNDS CARRIED FORWARD	Unrestricted fund £ 3,070 2,556 5,153 2,760 240 2,457 16,236 11,215 1,400 4,373 16,988 (752) 20,619 19,867	Restricted fund £ - - - - - - - 15,716 - - 15,716 (15,716) 369,781 354,065	30.9.23 Total funds £ 3,070 2,556 5,153 2,760 240 2,457 16,236 26,931 1,400 4,373 32,704 (16,468) 390,400 373,932	30.9.22 Total funds £ 37,466 3,032 3,615 530 35 1,145
				45,823
				24,438 520 6,389
				31,347
				14,476 375,924
				390,400

The notes form part of these financial statements

Page 5

DCYC Limited

Balance Sheet

30 September 2023

Notes FIXED ASSETS Tangible assets 5 CURRENT ASSETS Debtors 6 Cash at bank CREDITORS Amounts falling due within one year 7 NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES CREDITORS Amounts falling due after more than one year 8 NET ASSETS FUNDS 10 Unrestricted funds Restricted funds TOTAL FUNDS	Unrestricted fund £ 42,820 750 14,403 15,153 (7,796) 7,357 50,177 (30,310) 19,867	Restricted fund £ 354,065 - - - - - 354,065 - 354,065	30.9.23 Total funds £ 396,885 750 14,403 15,153 (7,796) 7,357 404,242 (30,310) 373,932 19,867 354,065 373,932	30.9.22 Total funds £ 412,948 7,500 14,867 22,367 (10,586) 11,781 424,729 (34,329) 390,400 20,619 369,781 390,400

The charitable company is entitled to exemption from audit under Section 479A of the Companies Act 2006 relating to subsidiary charitable companies for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each 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 charitable company.

The notes form part of these financial statements

Page 6

continued...

DCYC Limited

Balance Sheet - continued

30 September 2023

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

The financial statements were approved by the Board of Trustees and authorised for issue on 17 June 2024 and were signed on its behalf by:

Bernadine McCrory - Trustee

The notes form part of these financial statements

Page 7

DCYC Limited

Notes to the Financial Statements

for the Year Ended 30 September 2023

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Financial reporting standard 102 - reduced disclosure exemptions

The charitable company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

the requirements of Section 7 Statement of Cash Flows;
the requirement of paragraph 3.17(d);
the requirements of paragraphs 11.42, 11.44, 11.45, 11.47, 11.48(a)(iii), 11.48(a)(iv), 11.48(b) and 11.48(c) ;
the requirements of paragraphs 12.26, 12.27, 12.29(a), 12.29(b) and 12.29A ;
the requirement of paragraph 33.7;
the requirement of paragraph 24(b) of IFRS 6.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Page 8

continued...

DCYC Limited

Notes to the Financial Statements - continued for the Year Ended 30 September 2023

1. ACCOUNTING POLICIES - continued

Fund accounting

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation - owned assets	30.9.23 £ 16,063	30.9.22 £ 16,052

3. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 30 September 2023 nor for the year ended 30 September 2022.

Trustees' expenses

There were no trustees' expenses paid for the year ended 30 September 2023 nor for the year ended 30 September 2022.

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

INCOME AND ENDOWMENTS FROM Donations and legacies Charitable activities Youth Club Activities Lotto Membership fees Room Hire Summer Scheme Total EXPENDITURE ON Charitable activities Youth Club Activities Lotto Other	Unrestricted fund £ 34,966 3,032 3,615 530 35 1,145 43,323 8,386 520 6,388	Restricted fund £ 2,500 - - - - - 2,500 16,052 - 1	Total funds £ 37,466 3,032 3,615 530 35 1,145
			45,823
			24,438 520 6,389

Page 9

continued...

DCYC Limited

Notes to the Financial Statements - continued

for the Year Ended 30 September 2023

4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ Total 15,294 NET INCOME/(EXPENDITURE) 28,029 RECONCILIATION OF FUNDS Total funds brought forward (7,410) TOTAL FUNDS CARRIED FORWARD 20,619 5. TANGIBLE FIXED ASSETS Freehold property £ COST At 1 October 2022 and 30 September 2023 471,969 DEPRECIATION At 1 October 2022 60,754 Charge for year 15,717 At 30 September 2023 76,471 NET BOOK VALUE At 30 September 2023 395,498 At 30 September 2022 411,215	4. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund £ Total 15,294 NET INCOME/(EXPENDITURE) 28,029 RECONCILIATION OF FUNDS Total funds brought forward (7,410) TOTAL FUNDS CARRIED FORWARD 20,619 5. TANGIBLE FIXED ASSETS Freehold property £ COST At 1 October 2022 and 30 September 2023 471,969 DEPRECIATION At 1 October 2022 60,754 Charge for year 15,717 At 30 September 2023 76,471 NET BOOK VALUE At 30 September 2023 395,498 At 30 September 2022 411,215	- continued Restricted fund £ 16,053 (13,553) 383,334 369,781 Fixtures and fittings £ 2,489 756 346 1,102 1,387 1,733	Total funds £ 31,347 14,476 375,924 390,400 Totals £ 474,458 61,510 16,063 77,573 396,885 412,948	Total funds £
				31,347
				14,476 375,924
				390,400

Page 10

continued...

DCYC Limited

Notes to the Financial Statements-continued for the Year Ended 30 September 2023 6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.9.23 £ Other debtors 750 7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 30.9.23 £ Other loans (see note 9) 6,546 Other creditors - Accrued expenses 1,250 7,796 8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 30.9.23 £ Bank loans (see note 9) 30,310 9. LOANS An analysis of the maturity of loans is given below: 30.9.23 £ Amounts falling due within one year on demand: Other loans 6,546 Amounts falling between one and two years: Bank loans - 1-2 years 4,833 Amounts falling due between two and five years: Bank loans - 2-5 years 25,477 10. MOVEMENT IN FUNDS Net At movement 1.10.22 in funds £ £ Unrestricted funds General fund 20,619 (752) Restricted funds Secad grants 369,781 (15,716) TOTAL FUNDS 390,400 (16,468)	30.9.22 £ 7,500 30.9.22 £ 6,546 2,840 1,200 10,586 30.9.22 £ 34,329 30.9.22 £ 6,546 8,891 25,438 At 30.9.23 £ 19,867 354,065	30.9.22 £ 7,500 30.9.22 £ 6,546 2,840 1,200
		10,586
		30.9.22 £ 34,329
		30.9.22 £ 6,546
		8,891
		25,438
	373,932

Page 11

continued...

DCYC Limited

Notes to the Financial Statements - continued

for the Year Ended 30 September 2023

10. MOVEMENT IN FUNDS - continued

Net movement in funds, included in the above are as follows:

Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
16,236
(16,988)
Restricted funds
Secad grants
-
(15,716)
TOTAL FUNDS
16,236
(32,704)
Comparatives for movement in funds
Net
At
movement
1.10.21
in funds
£
£
Unrestricted funds
General fund
(7,410)
28,029
Restricted funds
Secad grants
383,334
(13,553)
TOTAL FUNDS
375,924
14,476
Comparative net movement in funds, included in the above are as follows:
Incoming
Resources
resources
expended
£
£
Unrestricted funds
General fund
43,323
(15,294)
Restricted funds
Secad grants
2,500
(16,053)
TOTAL FUNDS
45,823
(31,347)

Movement
in funds
£
(752)
(15,716)
(16,468)
At
30.9.22
£
20,619
369,781
390,400
Movement
in funds
£
28,029
(13,553)
14,476

Page 12

continued...

DCYC Limited

Notes to the Financial Statements - continued for the Year Ended 30 September 2023

10. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds General fund Restricted funds Secad grants TOTAL FUNDS	At 1.10.21 £ (7,410) 383,334 375,924	Net movement in funds £ 27,277 (29,269) (1,992)	At 30.9.23 £ 19,867 354,065
			373,932

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

in the above are as follows:
	Incoming	Resources	Movement
	resources	expended	in funds
	£	£	£
Unrestricted funds
General fund	59,559	(32,282)	27,277
Restricted funds
Secad grants	2,500	(31,769)	(29,269)
TOTAL FUNDS	62,059	(64,051)	(1,992)

11. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 30 September 2023.

Page 13

DCYC Limited

Detailed Statement of Financial Activities for the Year Ended 30 September 2023

Detailed Statement of Financial Activities for the Year Ended 30 September 2023
	30.9.23	30.9.22
	£	£
INCOME AND ENDOWMENTS
Donations and legacies
Donations	270	32,754
Grants	2,800	4,712
	3,070	37,466
Charitable activities
Charitable Activities	13,166	8,357
Total incoming resources	16,236	45,823
EXPENDITURE
Charitable activities
Wages	-	400
Rates and water	160	240
Insurance	500	812
Light and heat	5,306	2,384
Telephone	369	250
Sundries	1,538	1,120
Trips and transport	3,698	2,983
Repairs and renewals	697	677
Depreciation of tangible fixed assets	16,063	16,052
	28,331	24,918
Other
Cleaning	120	69
Equipment expensed	830	2,605
	950	2,674
Support costs
Finance
Bank charges	354	282
Loan interest	815	890
	1,169	1,172
Governance costs
Accountancy and legal fees	2,254	2,583

This page does not form part of the statutory financial statements

Page 14

DCYC Limited

Detailed Statement of Financial Activities for the Year Ended 30 September 2023

Total resources expended Net (expenditure)/income

	30.9.23	30.9.22
	£	£
	32,704	31,347
	(16,468)	14,476

This page does not form part of the statutory financial statements

Page 15