Company Number: N1650620 Charity Number: NIC107614 Culmore Communlty Partnershlp Ltd (A Company limited by guarantee) Directors, report and financial statements for the year ended 31 December 2024
Culmore Community Partnership Ltd (A company limited by guarantee) Contents Page Information Director's Report Independenl Exairiners, Report Statement of Financial Activities Balance Sheel Notes to Ilie Financial Statements 8-13
Culmore Community Partnership Ltd (A company limited by guarantee) Information Dire¢tor Linda Bradley14ughes - R¢sign¢d 18 June 2024 Micli¢lle Burns - Appointed 23 July 2024 Fiona Craddeii Neil Doherty Sean Hegarty Dern]ot McErlean Philip Oweill Vyjayanthi Puliyur-vijayaraghavan Company No: N1650620 Charlty No: NIC107614 Registered office Culmore Community Hub Victoria Hall 32-34 Culmorc Point Road Derry BT48 8JW Accountants McGroarty Mccafferty & Company Ltd Accountants & Tax Consultants 2 Carlisle Terrace Derry BT48 6JX Bankers AIB (NI) Meadowbank Strand Road Derry BT48 7fN Page I
Culmore Comniunity Partnership Ltd (A company limited by guarantee) Director's Report The directors present their report and the financial statements for the year ended 31 December 2024. Objectives and activities Culmore Community Partnership delivers an accessible, free service to the people of Culmore from our community hub in Victoria Hall. We engage regularly and effectively with local p¢opl¢ tlirough newsletters, surveys and our programmes and services to tap into tlieir talents and to ensure that what we do is relevant to their needs. We engage witli neiglibouring areas to develop links that benefit local people socially and ecoiiomically and reduce isolation. We deliver programmes for youth and the elderly; coordinate the local delivery of essential services. and proinote local arts, culture and heritage to attract visitors and contribute to social cohesion. Underpinning this work are our key values of Commitment to community development. honesty, integrity and transparency in how we work; respect for div¢rsity and inclusivity; accessibility. coinpliance. being proactive and innovative in our approach; and practicing regular and effective engagement and cominunication. Directors and tlieir interests The directors of tlie charity for the purposes of cliarity law and throughout this report are collectively referred to as tlic directors. The dir¢¢tors serving during tlie year and since the year end were as follows: Liiida Bradley Hughes - Resigned 18 June 2024 Miclielle Burns - Appointed 23 July 2024 riona Cradden Ncil Dohcrty Sean Hegarty Dcnnot McErlean Philip OTrleill Vyjayaiillii Puliyur-Vijayaragl)avan Governlng Document Tlie organisation is a company with charitable status. The entity was incorporated on 29 January 2018. The ompany wa5 establishcd under Memoranduin & Articles of Association which outlined the area of benefit and the objects of the cliaritable organisation. Risk Managomcnt The directors have a risk managemcnt strategy wliich consists of establishing a systein of identifying risks and mitigatiiig such risks. Results & Performancc The results and performance for the year of Culmore Community PartnershTP Ltd are summarised in the enclosed accounts. Financial review The financial perforinance is summarised in the enclosed accounts. Page 2
Culmore Cotnmunity Partnership Ltd (A company limited by guarantee) Directors Report .continued Directors Responsibilities In Relation To Thc Financlal Statements The Directors of Culinore Community Partnership Ltd for the purposes of company law are responsible for preparing tl)e Directors, Annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards ( United Kingdom Generally Accepted Accounting Practice). Company law rcquires tlie directors to prepare financial statements for each financial year that give a true and fair view of the state of the affairs of the charity at tlie end of tlie financial year and of its surplus or deficit for the financial year. lil doiiig so tlie directors are required to: Select suitable accounting policies and apply them coiisistently; observe metliods and principles in the Charities SORP (FRSI 02); make judgeiiients and e5tiinates that are reasonable and prudent. statc wlietlier applicable UK Accountiiig Standards have beeli followed, subject to any material departures disclosed and explaiiied in tlie financial statements; prepare tlie financial statements on tlie going ¢on¢ern basis unless it is inappropriate to presume that tlie charity will continue in business. The directors are respoiisible for maintainiiig proper accounting records which disclose with reasonable accuracy at any lime Ilie financial posilion of tlie charity and enables them to ensure that the financial statements comply willi the Coinpanies Aet 2006. Tlie directors are a150 responsible for safeguarding the assets of tlic cliarity and hence for taking rcasonable steps for the prevention and detection of fraud and other irregularities. In so far as the directors are aware. there is no r¢l¢vant infonnation of which the company's independent examin¢r is unaware, and tlie dir¢otors hav¢ taken all the steps that tliey ouglit to liave taken to make themselves aware of any relevant inforination and to cstablish that the independeiit examiner is aware of that information. A resolution will be proposed at the Aniiual General Meeting that McGroarty M¢ Caffety & Company Ltd be re-appoinled as accountants for tlie charity for the ensuing year. Tliis report is preparcd in accordance witli tlie special provisions of part 15 of the Companies Act 2006 relating to small companies. Tliis report was approved and authorised for, issue by the Board on and signed on its behalf by Dircctor Irector .25151 2flslzS Page 3
Culmore Community Partnership Ltd (A company limited by guarantee) Independent examiner's report on the unaudited financial statements to the of Culmore Community Partnership Ltd We report on tlie accounts of ili¢ company for the year ended 31 December 2024, which are set out on pages 5 to 13. Rcspectlvo responsibilities of charity directors and examlner. As tlie cliarity dircctors you are respoiisible for tlie preparation of the accounts in accordance with the requirements of the Compaiiies Act 2006. Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for iiid¢peiident exaniination, it is our responsibility to; exainine tlie accounls under section 65 of tlie Charities Act 2008; follow Ihe procedures laid down in tlie geiieral directions given by the Cliarity Commission for Northern Ircland under section 65(9)(b) of tlie Chariti¢5 Act 2008. state wlictlicr parlicular Inatters liave come to our attentioii. Basis of independent examlner's report We liave examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordaiice with the general directions given by the Charity Commission for Northern Ireland uiider Section 65(9)(b) of the Charities Act. Tlie examination included a review of the accounling records kept by tlie charity and a comparison of the accounts presented with those records. It also included a consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity directors conceming any such inatters. Our rol¢ is to state wlietlier any material iiiatters liave coine to our attention giving us cau5¢ to believc: tliat accountiIig r¢cords were not kept in accordance witli section 386 of th¢ Companies Act 2006. tliat the accounts do not ac¢ord witli those accounting records; tliat tlie accounts do not comply witli the accounting requirements of the Section 396 of the Companies Act 2006 and the Inetliods and principles of tlie 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 Irelaiid, tliat there is furtlier inforinalion iieeded for proper understanding. Independent examlner's statement As tlie cliarily's gros5 incoine exceeded £250,000 the examiner must be a member of a listed body. We can confirm that we are qualified to undertake tlie examination as we are registered as members of Chartered Accountant Ireland which is one of tlie listed bodies. We have completed our examination aiid have no concerns in respect of the matters listed above and, in coiinection witli following the directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. On behalf of. McGroarty Mccafferty & COpanY Ltd Accountants & Tax ConsulÉanls 2 Carlisle Terrace Derry BT48 6JX Date.. (kntrx ?01 S- Page 4
Culmorc Community Partnership Ltd (A company limited by guarantee) Statement of Financial Activities for the year ended 31 Docember 2024 Unrestricted Funds Restricted Funds 2024 2023 Income and Expendituro Incoming Resources Grants & Sundry Iiicoine 74,315 389.202 463,517 323,858 Total Incoming Resources 74,315 389,202 463,517 323,858 Resources Ei xpcndcd Maiiageinent & Administration 40,144 449,520 489,664 351,548 Total Resources Expended 40,144 449,520 489,664 351,548 Net Incoming l (Outgoing) Resources 34,171 (60,318) (26,147) (27,690) Balances brouglit forward l January 2024 88,108 201,512 289,620 317,310 Balances carried forward 31 December 2024 11. 122,279 141,194 263,473 289,620 Tlie above aniounts relate to continuing operations of the company. The company has no recognised gains and 105ses other than those included in the results above and therefore no separate statement of total recogiii5ed gains and losses has been presented. There is no difference between the net incoming rcsources for ilie year stated above and their historical cost equivalents. Page 5
Culmore Community Partnership Ltd (A company limited by guarantee) Balance sbcet as at 31 December 2024 2024 2023 Notes Fixed assets Tangible assets 184,646 248,206 Curront a$$¢ts Debtors Casli at bank and in hand 80,814 79,183 12,685 130,196 159,997 142,881 Current liabilities Bank loans and overdrafts Other Creditors Accruals 1,634 75,395 4,14l 1,362 95,426 4,679 10 81,170 101,467 Net current assets 78,827 41.414 Total assets less current liabilities 263,473 289,620 Reserves Unrestricted Restricted 122,279 141,194 88,108 201,512 11 263,473 289,620 Page 6
Culmore Community Partnership Ltd (A company limited by guarantee) Balancc sheet (continued) Dire¢tors' statements requir¢d by S¢¢tions 475(2) and (3) for tho yoar onded 31 December 2024 In approving tliese financial statements as directors of the company we liereby confirm: The company was entitled to exeinptioii from audit under s477 of the Companies Act 2006 relating to small oinpanies. The Ineinbers have iiot required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. Tlie directors acknowledge their responsibilities for complying with tlie requirements of the Companies Act 2006 witli rcspcct to accouiiting records and preparation of accounts. Tliese accounts liave beeii prepared in accordance with the provisions applicable to small companies subject to tlie small companies regiine and in accordance witli FRSI 02 SORP. Tlie accounts Iiave been approved aiid autliorised for issue by the board on Dir¢ctor Date: Date: Registration No: N1650620 Page 7
Culmore Community Partnership Ltd (A company limited by guarantee) Notes to the accounts for the year endcd 31 Dccemb¢r 2024 General informatlon The company is a private coinpany limited by guarantee, registered in Northern Ireland. Tli¢ address of the registered olTice is Culmore Community Partn¢rship Ltd, Culmore Community Hub Victoria Hall, 32-34 Culmorc Point Road, Deny> BT48 8JW. 1.1. Statement of compliance The priiicipal accounting policies adopted in the preparation of the financial statements are set out below and have reiiiained unchaiiged from the previous year, and also have been consistently applied witliin tlic same accounts. Tlie charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordance witli Accounting and Reporting by Charities: Statement of Recommended Practice applieable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in tlie UK aiid Republic of Ireland Chariti¢s SORP (FRS 102), the Companies Act 2006 and tlie Charities Act (Northern Ireland) 2008. The financial 51atements are prepared on a going concern basis under the historical cost convention, modificd to included ccrtain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity. 1.2. Tangible fixed assets and depreciation Depr¢¢iation is provided at ratcs calculated to write off the cost or valuation less residual value of each asset over its ¢xp¢ct¢d us¢ful lif¢, as follows: Fixture5, Fittings & Equipment 15 % Straight Line Income (i) Grants Grants represents all amounts received and reccivable during the year. Capital grants arc rcleased to the profit and loss account in the year in which they are received in line with the SORP Accounting & Reporting by Charties. Revenue graiits are credited to the Statement of Financial Activities in the year they are received. (li) Donations & administration income. This comprise5 ainounts received during the year. Page 8
Culmore Community Partnership Ltd (A company limited by guarantee) Notes to the accounts for the year ended 31 Dccemb¢r 2024 Expenditure (i) Direct Cliarilable Expendilure This represeiils all expenditure directly attribuiable to charitable causes, (li) Management & Adininistration This includqs all otlier expenditure not directly allocated above and a portion of the overhead costs attributable to manageinent and administration. Page 9
Culmore Community Partnership Ltd (A company limited by guarantee) Notes to the accounts for the year ended 31 December 2024 In¢ome 2024 2023 Rostricted Income Derry City & Slrabane Council Big Lottery- Main Grants Big Lottery- Places & Spaces Grcater Sliantallow Partnership Nl Policing board Education Autliority Clear Villag¢ Catalyst Fund Garfield Weston Pilgrim Trust The Honourable Tlie Irish Society Tlie Community Pliarmacy Lottery Community Fund Halif Foundation WI-ISCT Arts Council Apex Flousing Association Electrical Safety Fund Architectural Heritage Fund PHA Income 61,571 248,962 18,986 192,614 10,000 6,453 9,790 4,585 44 6,000 7,659 16,754 1,526 803 1,496 2,400 4,290 9,600 3,322 3,800 280 4,198 3,975 5,000 10,312 5,000 17,000 1,010 389,202 268,228 Unrcstricted Income Donations Projcct Income - unrestricted 2,105 72,210 55,630 74,315 55,630 Total Income 463,517 323,858 (i) Restrlcted Funds Funds received which are earn]arked by tlie Funder for specific purposes. Such purposes are within the overall Lim5 of the organisation. {ii) Unrestricted Futtds runds wliicli are expeiidable at the discretion of the company in furtherance of the aims of the charity. In addition funds may be held in order to finance capital investment and working capital. Page 10
Culmore Community Partnership Ltd (A company limited by guarantee) Notes to the accounts for the year ended 31 December 2024 Resources Expended Unrestricted Funds Rcstricted Funds Total 2024 Total 2023 Monagement & Administration Staff costs Festival expenses Prograinme cosls Insurance Coillputer costs Rent & rates Light & Iieat expenses Printing,postage & stationery Telephone Repairs & maiiitenance Accouiilaiicy fees Sundry expenses Legal and professional fees Bank fees Depreciation of fixtures & fittings 15,944 169,821 185,765 126,923 1,071 94,756 2,887 927 2,816 10,745 10,391 3,609 6,803 1,200 161 20,772 112,005 3,035 990 3,192 11,422 7,905 4,070 6,762 1,873 35 38,062 695 89,653 132,777 3.035 990 3,192 11,422 7,905 4,070 6.762 1,873 37 38,062 695 93.079 608 88.651 3,426 40,144 449,520 489,664 351,548 Nct Incomlng Resources 2024 2023 Net incoming resources has been arrived at after charging> Depreciation 93,079 88,651 Taxation No charge to tatIOn is due as the company has charitable status. Page 11
Culmore Communlty Partnersbip Ltd (A company limited by guarantee) Notes to the accounts for the year ended 31 December 2024 Staff costs Tlie averagc number of persons employed by the company during the year amounted to 7 (2023.7). The aggregate payroll costs incurred during the year were: 2024 2023 Wages and salaries Pension coiilributions 175,525 10,240 120,718 6,205 185,765 126,923 Tangible assets Fixtures, Flttlng & Equipment TotAI Cost At l January 2024 Additions 591,012 29,520 591.012 29,520 At 31 Deceinber 2024 620.532 620,532 Deprcclgtion At l January 2024 Charge for ilie year At 31 December 2024 342,806 93,080 342,806 93,080 435,886 435,886 Net book valucs At 31 Deceinber 2024 184,646 184,646 At 31 December 2023 248,206 248,206 Debtors 2024 2023 Grants due Prepayments 80,606 208 12,518 167 80,814 12,685 Page 12
Culmore Community Partnership Ltd (A company limitcd by guarantee) Notes to the accounts for the year ended 31 December 2024 10. Currcnt liabilities 2024 2023 Credit card Taxes and social se¢iirity costs Deferred income Accruals 1,634 3,220 72,175 4,141 1,362 3,292 92,134 4,679 81,170 101,467 11. Movemonts in Funds At At l January Incomlng Outgoing 31 December 2023 resources resources 2024 Restricted funds: Total restricted funds 201,512 389,202 (449,520) 141,194 Unrestricted funds: Total unrestricted funds 88,108 74,315 (40,144) 122,279 289,620 463,517 (489,664) 263,473 Purposos of Restricted Funds Restricted grants awarded to tlie cliarity is provided to cover the core objects as explained in directors report. 12. Related PArty Transactlons There were no related paty transactions in the year under review. 13. Limited by Guarantee The COlTJpany is limited by guarantee and does not have a share capital. 14. Controlling Party Control rests with the directors. Page 13