Heart of Down Rural SocRety Ltd Company Limited by Guarantee Annual Report for the Year Ended 31$¢ July 2024 Reglslered No: N1663421
He4rt ofDown RuralSo¢iety Ltd AnAuoI reportfor iheyear ended 31" July 2024 Contents Company inforniation Tnle¢s, Report Report of th¢ independent examiner ststement of financial activities Balancc sh¢¢t Notes to the accounts 8-12 Th¢ following schedules do not forni part of the audited statutory accounts Detailed income and expenditure 14
Heart ofDown Ruralsociety Ltd Annual reportfor theyear ended 31yI July 2024 Page I Company information Charity Najne; Heart of Down Rural Society Ltd Company Registration Number: N1663421 Nl Charity Commission Registration Number: NIC107064 HMRC Charlty Nnmber: Registered office &lld business address: 14 Ashburn Ballynahinch Co Down BT24 8DQ Ae¢ountants: S.M. Vint & Company Chartered C¢rtified Accountants 8 Newry Road Banbridge Co Down, BT32 3HN Bankers.. Danske Bank Don¢gall Square West Belfast BTI 6JS
Heart ofDown Ruralsoeiety Ltd Annual reportfor iheyear ended 31SÉJuly 2024 Page 2 Heart of Down Rural Society Ltd rt of the Trustees For the Year Ended 31 July 2024 The Trustees present their report and financial statements for the year end 31" July 2024. The Trustees who served during the year and up to the date of this report are listed as:. TAW Crawford B Douglas DW Ross PJ Tate Objectives & Activities Heart of Down Rural Society Ltd aims to provide for community development work within the local neighbourhood. The Committee are providing, maintaining and managing a rural Hall facility to ensure local community organisations have adequate, modern and sufficient facilities to meet the respective needs of each organisation to help ensure active community participation. The Committee also hope to organise lectures, classes, meetings and community fundraising events and other forms of leisure-time and recreational and educational development. The objectives are specifically restricted to the advancement of community development, the advancement of education, the relief of poverty, sickness and the aged and the promotion of the benefit of the inhabitants of the Spa area and its environs in County Down, without distinction of age, gender, disability, sexual orientation, nationality, ethnic identity, political or religious opinion, by associating the statutory authorities, community and voluntary organisations and the inhabitants in a common effort to provide facilities in the interests of Social welfare for recreation or other leisure-time occupation, with the object of fostering a community spirit and improving the conditions of life for the benefit of the inhabitants and in particular to: a) The Provision, maintenance and management of a community educational resource hall facility for the use of the inhabitants for activities promoted or facilitated by the Company including use for meetings, lectures, classes and other forms of recreational and leisure-time occupation with the object of improving the conditions of life for the said inhabitants- bl to support community development, social inclusion and well-being activities and to work with partners to support and improve the conditions of the inhabitants in rural life; c) to promote or assist in the promotion, facilitation and organisation of community capacity building programme and projects for the benefit of the inhabitants Wlthin the area of benefit who have need of such assistance as a result of their youth, age, disability or infirmity, or social and economic circumstances, in an effort to increase the abilities, skills and self-confidence of such inhabitants.
HeArt nfDown Rural Society L Annual reportfor iheyear ended 3131 July 2024 Page 3 d) to advance any other exclusively charitable purpose as the Directors, may from time to time, decide in accordance with the law of charity. Review of Flnances The income for the year to 31, July 2024 was £7,075. Government 8rants were obtained from: Co-operation Ireland DAERA Newry, Mourne & Down District Council To all these funders, Heart of Down Rural Society Ltd are most grateful. Public Benefit Statements The Trustees consider they have complied with their respective dutie5 to have due regard to the guidance on public benefit as published by the Charity Commission for Northern Ireland. Statement of Trustee's responsibilities The Trustees are responsible for preparing the annual report and the financial statements in accordance with the applicable law and United Kingdom accounting standards. Company Law requires the Trustees to prepare financial statements for each financial period to provide a true and fair view of the affairs of the company for that period. In preparing the financial statements, the trustees are required to: Make estimates that are reasonable and prudent Select m05t appropriate accounting policies and apply in a consistent format Clarify that applicable accounting standards have been followed and further explained in the financial statements and have prepared the financial statements. The Trustees confirm that they have complied with the above requirements in preparing the financial statements. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time, the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 21J)6. The Trustees are also responsible for safeguarding the a55ets of the Company and hence for taking reasonable steps for the prevention and detection of fraud or other irregularities. Policies are also in place for such issues. Approved by the Trustees Chairperson Date: 2£ 20
Heart ofDown Rurol Soeiety Ltd Annual reportfor the yeor ended 3131 July 2024 Page 4 Independent Examiner's Report to the Trustees of Heart of Down Rural Society Ltd I report on the accounts of the charity for the year ended 31 st July 2024 which are set out on pages 6 to 14. Respective responsibilities of Trustees and Examiner As the charity's trustees (who are also ihe directors of the company for the purposes of company law) you aff 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 Cxamination, it is my responsibility to: ' examine the accounts under section 65 of the Charities Act" . to follow the procedures laid down in the general Directions given by the Charity Commission for Northern freland under section 65(9)(b) of the Charities Act. and . to state whether particular matters have come to my attention. Basis of Independent Examiner's report I have examined your chltY 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) of the Charities Act. The examination included a rcview 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: l. That accounting records were not kept as required by section 63 of Ikle Charities Act 2. That the accounts do not accord with thos¢ accounting records 3. That the accowits do not comply with the accounting requirements of the Charities Act 4. That there is further inforniation needed for a proper understanding of the accounts to be reached.
Heart ofDown Rural Society Ltd Annual reportfor theyear ended 31#July 2024 Page 5 Independent examiner's qualified ststement I have completed my examination and have no concerns in respect of the matters (l) to {4} listed above and, in connection with following the Directions of the Charity Con)mission for Northern Irelan I have found no matters that require drawing to your attention. Thomas Vint FCCA For and on behalf of SJ¥I. Vint & Co Chartered Certlfied Aceountants & Registered Auditors 8 Newry Road Banbridge BT32 3HN Date:
Heart ofDown Ruralsociety Lld Annual reportfor theyeor ended 3151 July 2024 Page 6 Statement of Financial Activities Note Unrestrleted Restricted funds funds Total 2024 Total 2023 Incoming resource5 Donations and legacies Charitsble activities 1,755 5,320 1,755 SJ20 1,679 7,533 Totsl ineomfing resources 7,075 7,075 9,212 Resources expended Direct charitsble expenditure Govemance costs 9,559 560 9J59 560 9,632 Total resourees expended 10,119 10,119 10,216 Net movement in funds (3,044) (3,044) {1,004) Reconcillatlon of movement in funds Fund balances at 1st August 2023 Net movement in funds for the year (8,463) (3,044) (8,463) (3,044) (7,459) (1,004) Fund balances at 31 July 2024 (11,507) (11,507) {8,463) All amounts above relate to th¢ continuing operations of the company. Thc company Iw no recognised gains and losses other than those included above and therefore no separate statement of total recognised gains and losses has been presented. Ther¢ is no difference between the net rnovemcnt in funds for the y¢ar stated above, and thcir historical cost equivalents.
Héart ofDown Rural Society Lid Annual reportfor Iheyear ended 31&1 July 2024 Page 7 Statement of Financial Position (Balance sheet) Notes 2024 2023 Fixed assets 208,279 216,455 Current assets Debtors Cash at bank and in hand: Bank aOlll Petty rash 10 119 38 346 2,103 465 2,141 Creditors: amounts faIling due within one year (66,091) (67,071) Net current assets (65,626) (64,930) Creditors: amounts falling du¢ after more than one year 12 (154,160) (159,988) Net assets (11,SOT) (8,463) Funds employed Unrestricted funds Restricted funds (11,507) (8,463) (11507) (8,463) Approved by the board and signed on its behalf by: Treasurer Date:zs Is12£ Registration number N1663421
Heart ofDown Rural Society Ltd Annual reportfor theyear ended 31Jl July 2024 Page 8 Notes to the accounts Accounting policies Basis of accounling The ac¢ounts have be¢n prepared under the historical cost convention and in accordance with 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" FRS 102, the Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities accounts in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and the Charities Act (Northern Ireland) 2008. Income All incoming resources are recognised in the Statement of Financial Activities when the conditions for receipt have been met and there is reasonable assurance of receipt. When an incoming resource relating to a future accounting period is receive4 the amount is treated as deferred income and it is included within creditors in the balance sheet. Funds Heart of Down Rural Society Ltd has various types of funds for which it is responsible and which requir¢ separate disclosure. These are as follows: restricted income funds: income which is eannarkcd by the donor for specific purposes. Such puOseS are within the overall aims of the organisation; and unrestricted nds. funds which are expendable at the discretion of the management board in furtherance of the objects of the organisation, In addition to expenditure on education or services, such funds may be held in order to finance capital investment and working capital. Cosls Management and administration costs relate to the costs of rut]ning the organisation such as the costs of meetings and accountancy and include any costs which cannot be specifically identified to another expenditure classification. Depreciation Depreciation is calculated to write off the original cost less the estitnated residual value of the red assets on a strnight line basis over their expected useful lives, as follows: Freehold Property Fixtures & fittings Straight line over 30 years 200/0 on reducing balance
Heart ofDown Rural Society Lid Annual reporifor theyear ended Sljl July 2024 PAge 9 Notes to the accounts (cont'd) Income from Donations and Legacies Unrestricted funds Restricted funds Total 2024 Totsl 2023 Incoming resources Donations 1,755 1,755 1,679 Total ineoming resourees 1,755 1,755 1,679 IDcome from Charitable Activities Unrestrlcted funds Re$trlcted funds Total 2024 Total 2023 Incoming resources Release Government Grants 5,320 5J20 7,533 Total incoming resour¢e$ 5,320 5,320 7,533
Heart ofDown Rurolsoeiety Ltd Annual reportfor theyeor ended 31Sf July 2024 Page 10 Notes to the accounts (cont'd) Analysis of Direct Charitable Expenditsre Unrestricted Reslricted funds funds Total 2024 Tolal 2023 Direct charRt¥bl¢ expenditure Rates Insurance Light & H¢at Water Rates Event Expenses Equipment Telephone Post and Stationery Repairs and Renewals Household & Cleaning Sundry Exp¢n8L8 Subscriptions Donations Legal and Professional Fees Bank Charges Loan Interest Depreciation on Freehold Property Depreciation on fLXtures and fittings Total direet eharltable expeDdlture 978 978 924 144 45 45 144 180 loo 180 loo 117 77 74 74 7,976 200 9,559 7,976 200 9,559 7,976 250 9,632 The average number of employees during the year was nil. Analysis of Governance Cost Expenditure Unrestrlcted Restrlcted funds funds Total 2024 Total 2023 Governance cost5 Accountancy Audit General expenses AGM expenses Total management alld administration 560 560 560 560 584 Remuneration Total remuneration paid to the board members during the year was £0 (2023 £0). Expenges paid to board members during the year amount¢d to £0 {2023 £0).
Hearl ofDown Rural Society Lid Ann4ol reportfor iheyear ended 31#July 2024 Page 11 Notes to the accounts (cont'd) Net movement fin fund5 2024 2023 Net movement In funds is stated after chargillW(eredlting): Auditors, rethuneration audit services Depreciation on tangible fixed ats 560 8,176 584 8,226 Taxation No provision for taxation is required as the organisation has charitable status approved by the Inland Revenue. Fixed assets Freehold Fixtures property & Fittings Total Cost At ISI August 2023 Additions 239,268 1,250 240,518 Disy08als At 31" July 2024 239,268 1,250 240,518 Aeeumulated depreeiation At 1st August 2023 Charge for the year Disposals At 31° July 2024 23,813 7,976 250 24,063 200 8,176 31,789 450 32,239 Net book value Al 31" July 2023 At 3151 July 2024 215,455 207,479 1,000 216,455 800 208,279 10. Debtors 2024 2023 Vat Account 119 38 119 38
Hearl ofDown Rural Society Lld Annual reportfor theyeor ended 313t July 2024 Page 12 Notes to the accounts (cont'd) I l. Creditors: amounts falling due within one year 2024 2023 Trade Creditors Accruals Loans 216 375 65,500 66,091 221 350 66,51K) 67.071 12. Creditors: amounts falling due after MO than one ycar 2024 2023 Deferred governrnent granL8 154,160 154,1611 159,988 159,988 13. Guarantors Heart of Down Rural Society Ltd is a company limited by guarantee and it does not have share capital. Every member of thc society undertakes to contribute to the assets of the society, in thc cvcnt of the samc being wound up while he is a member, or within one year after he ceases to be a member, for payment of the debts and liabilities of the society contracted before he ceases to bc a member and of the costs, charges and expenses of winding up and for the adjustment of the rights of ihe contributories among themselves, such amount as may be required not exceeding £1.
Hearl ofDown Rural Soeiety Lld Annual reportfor the year ended 3151 July 2024 Page 13 The following schedules do not form part of the audited statutory accounts of the company
Heart ofDown Ruralsoeiety Ltd Annual reportfor Iheyear ended 31#July 2024 Pagé 14 DetaAled Statement of Financial Activities Unrestricted funds Reslrieted funds Totsl 2024 Total 2023 Income Donations Release of Government Grants Total income 1,755 5,320 7,075 1,755 SJ20 7,075 1,679 7,533 9,212 Direct charltable expenditure Rates Insurance Light & Heat Water Rates Event Expenses Equipnlent Telephone Post and Stationery Improvements to Propety Rq)airs and Renewals Household & Cleaning Sundry expenses Subscriptions Donations L¢gal and Professional Fees Bank Charges Loan Interest Depreciation on Freehold Property Depreciation on fjxtures and fittings Total direct eharitable expenditure 978 978 924 144 45 45 144 180 loo 180 loo 117 77 74 74 7,976 200 9,559 7,976 200 9A59 7,976 250 9,632 Governance Costs Accountancy Audit Total management and administratfion 560 560 560 560 584 Total resource expended 10,119 10,119 10216 Net movement on funds (3,044) (3,044) (1,004)