Company Registration Number: NI026031 Charity Number: 107652
Glenelly Development Trust Limited (A company limited by guarantee, not having a share capital) Annual Report and Unaudited Financial Statements
for the financial year ended 31 March 2023
Glenelly Development Trust Limited (A company limited by guarantee, not having a share capital) CONTENTS
| Page | |
|---|---|
| Directors' and Other Information | 3 |
| Directors' Annual Report | 4-4 |
| Statement of Directors' Responsibilities | 5 |
| Statement of Financial Activities | 6 |
| Balance Sheet | 7 |
| Notes to the Financial Statements | 8 - 12 |
| Supplementary Information relating to the Financial Statements | 14 |
2
Glenelly Development Trust Limited (A company limited by guarantee, not having a share capital) DIRECTORS' AND OTHER INFORMATION
Directors
Company Secretary
Charity Number in Northern Ireland
Company Registration Number
Registered Office and Principal Address
Accountants
Principal Bankers
Solicitors
Ivan McKelvey Leo McCullagh William McKelvey Anne Bradley Peter McCullagh Terence McCauley John Pinkerton Patricia McNulty R M Murphy (Resigned 26 February 2024) John McGlinchey Mark McCullagh Brenda Morris Nicola Pinkerton (Appointed 19 October 2022) Roberta Wauchob (Appointed 22 June 2023) Robert McFarland (Appointed 26 February 2024) John Gormley (Appointed 18 May 2023) Siobhan McCullagh (Appointed 18 May 2023)
Brenda Morris
107652 NI026031
11B Main Street Plumbridge Omagh Co Tyrone BT79 8AA Northern Ireland
Abac Abbey House 12 Abbey Street Omagh Co Tyrone BT78 1BZ Northern Ireland
Ulster Bank 14 High Street Omagh Co Tyrone BT78 1BJ Northern Ireland
Fox Law
3
Glenelly Development Trust Limited IA etsrnpany Ilmlted by guarante& nr•t havlng a sharo ¢apltall DIRECTORS. ANNUAL REPORT lor Ihe fncial year ended 31 March 2023 The directors present their Directors, Annual Report. cornbining the DirBclors' Report and Tntstees, Report, and the unaudited fsnanctal stalements for Ihts financial year ended 31 March 2023. The financial statements are prepared In accor(lanc8 With the Companies 2006, FRS 102 'The Financial Reporting Statard applicable in the UK and Republic of Ireland. and Accounting and Reporting by Charities.. Stalernent of Recommended Pfacli¢e applicable to charittos preparing Iheir financial staiemenls in accordance with the Financiiil Reporting Standdrd applicable in the UK and R8public of Irel8rHI {FRS 102). Th8 Diractors, Report contalns the information requlred to bg Provlded in thg Oirectors, Annual Repjrt under the Statemént of Recommended Practice {SORPI guldelines. The direclors of the company are also charity Iruslees for th6 purpose of charity law and under the company's consilt4Jtion are kmwn as members of the board of trustees. In Ihis r&port Ihe directors of Glonelly Developm6nt Trust Limitèd present 8 summary of ils purpose, govemance, aclivilies, achiev6menls and finafices for Ihe fin8nci81 yeaf 31 March 2023. Th8 (Jmpany is a registered charity Bnd henc th& report and results are pres8nted in a fomi whlctt complie5 with Ihe requirements of the Companies Act 201y3 and, although not obliged lo comply with the StaÈem¥nl of Recommended Praclice applicable in the UK and Republlc of Ireland FRS 102, U)e organisalion has Implemented 118 r8commendatir)ns wheTe relevant in these financial 51atemenls. Flnanclal Rovlow The results for the finarlcial year are set oul on page 6 and additional notes are provided showing income and expenditure in greater detail. Flnanclal R?•ults At th8 end of Ihe financlal year the company has assets of £438,234 (2022 £434,913} and Ilabilltl8s of £19,225 12022 - £27.386). The nel assels of the company have incrèased by £11.482. Dlrectors The directors wl)o seNed Ihroughoul the financial year, except as noled, Ire as follows.. Ivan M¢Kelvey Loo Mccullagh Willlam McKelv8y Anne Bradley Petèr McCull8gh Terence Mccauley John Pinkerton Patricia M¢Nully R M Murphy (Resigned 26 February 2024) John McGlinchey Mark Mccullagh Brenda Morrls Nicola Pinkèrton (AppDlnted 19 October 20221 Roberta Wauchob {Appoinled 22 June 2023) Robert McFartand (Appointed 26 FebnJ8ry 2024) John Gomiley (Appointed 18 May 20231 Siobhan Mccullagh (Appointed 18 May 20231 The secretary who served duflng the financial yaar was: ethja Morris C(Mnplianc8 with Sector-WKte Legislation and Standards The company engages prs>aclively with legislalion. standards and codes which are devéloptsd lor the seclor. Glenelty Development Trust Limited subscribes lo and is compliant with the following: The Compani&s Act 2006 The Charities SORP {FRS 1021 Approved by the Board of Dlrectors on 27 March 2024 and SI9d on Its bohalf by: 8rnnda Morris Director
Glenelly Development Trust Limited IA eompany Ilmlted by guaranlte. not having a share capitl} STATEMENT OF DIRECTORS, RESPONSIBILITIES for the financial year end8d 31 March 2023 The directors are responsible for pfeparkng thg finafSoal stalements in awordance applicabte law and regulations. Company law requires the directo lo prepare financial slal8menls for each fsnancjal year. Under that law the diredors haye olected lo pTrpare the finanGial $181empnts in 8¢cordance with Uniled Kingdom Generally Accopled Accounting Practice {Uniled Kingdom Accounting Standards and applicable law) including FRS 102 The Financial Reporting Slaodard applicable in the UK and Republic of Irela17d" sect 1A (Sniall Enlrtle5). Under coryipany law the directors must not approv8 the financial statements unless they are satisfigd that Ih8y giv@ a Iru8 and lair view of the State of affairs of the company and of the surplus or deficit of th8 company for that Period. In preparing these financial statements, the dlrectors are required to: selecl suilabFe accounting pc4icies and apply them consislenlly: make judgements and eslimaies that afe reasonable and prudent: stale whelher Ihe financial ststemenls have been prepared in a¢wrdan¢è with the relèvant financial reporting framework, identify those standards. and note the effect and thè reasons for 8ny material departure from those $18ndarOs' and prepare Ife financial statements on the going conGem basis unless It Is inappropriate to presume that th8 company will continue In operallon. The difeclors conlim th81 they have complied with the above requirements in weparing Ihe financial statements. The directors are responsible lor keeping adequate 8cCcnIIng records that ar8 suificienl lo show and explain the company's transactions and disdose with reason8ble accuracy al any lime thè fin8ncial position of the Company and enable them to ensure Ihal Ihe finan¢i81 stat8menls comt4y with. They are also responsible for safeguarding the assets of the wmpany and hence for taking reasonable Steps for the prgveiilion arKI delectlon of fraud and other irregulanlies. Apyoved by the Board of Dlr•dorn on 27 MarGh 2024 and Slgfi oft St• behalf by.. Brenda Morrls Dlrector
Glenelly Development Trust Limited
(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 March 2023
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | Funds | Funds | ||
| 2023 | 2023 | 2023 | 2022 | 2022 | 2022 | ||
| Notes | £ | £ | £ | £ | £ | £ | |
| Income | |||||||
| Charitable activities | |||||||
| ▪ Grants from governments | 3.1 | 44,013 | 78,703 | 122,716 | 33,862 | 41,332 | 75,194 |
| and other co-funders | |||||||
| ─────── | ─────── | ─────── | ─────── | ─────── | ─────── | ||
| Expenditure | |||||||
| Charitable activities | 4.1 | 32,531 | 78,703 | 111,234 | 77,864 | 21,370 | 99,234 |
| ─────── | ─────── | ─────── | ─────── | ─────── | ─────── | ||
| Net income/(expenditure) | 11,482 | - | 11,482 | (44,002) | 19,962 | (24,040) | |
| Transfers between funds | - | - | - | - | - | - | |
| ─────── | ─────── | ─────── | ─────── | ─────── | ─────── | ||
| Net movement in funds for | 11,482 | - | 11,482 | (44,002) | 19,962 | (24,040) | |
| the financial year | |||||||
| Reconciliation of funds: | |||||||
| Total funds beginning of the | 13 | 381,230 | 26,297 | 407,527 | 425,232 | 6,335 | 431,567 |
| year | |||||||
| ─────── | ─────── | ─────── | ─────── | ─────── | ─────── | ||
| Total funds at the end of | 392,712 | 26,297 | 419,009 | 381,230 | 26,297 | 407,527 | |
| the year | |||||||
| ═══════ | ═══════ | ═══════ | ═══════ | ═══════ | ═══════ |
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 8 to 12 form part of the financial statements
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Glenelly Development Trust Limited IA company Ilmlled by guaranto¥, nol havlng a Share ¢apftall Company Number: N1O26031 BALANCE SHEET as at 31 March 2023 2023 2022 Note5 Flxed Assets Tangible assets 353,353 3.331 Current Assots Debtors Cash at bank and in hand 28,938 55,943 22,855 48,727 84.881 71,582 Cr•dltors: Amounts talllng du• wlthln ono year io {9.2251 {17,386} Net Current Assets 75.656 54.196 Total Assets less Current Llabllltlos 429,009 417,527 Giants 18¢elvable 11 (10,000) (10.0001 Tolal N•t A88•t• 419,009 407.527 Funds Resiricted trust funds General fund {unrestrictad) 26,297 392,712 26,297 381,230 Tot•1 funds 13 419,009 407,527 These financial sla18menls have been prepared in acwrdance with the special provislons relatlng to small companif4S wilhin Part 15 of ihe Companies Acl 2QO6. For Ihe financial year ended 31 March 2023 Ihe company was enlilled lo exemplion Irom audit under seclion 477 of Iho Companies Acl 2006; and no not8 has been deposiled under sectn 476. The directors confimi Ihal the members have not requlred the company to obtaiii an audll of its financial statements for Ihe financial year in question in acLordance wilh section 476 of Ihe Companies Act 2006. The directors 8cknowbedge their rèsponsibililies for ensliring that the company keeps accounting records whlGh comply wilh section 386 and for preparing financial statemenls whtch give a twe and fair view of the state of affairs of the company as al Ihe end ol the financial year and ol its profil and klss for the finanoal year in accordance with the requiren)eiits of sectKbns 394 and 395 aF7d which otherwise Gomply with the requirements of the Companies Act 2006 relating to financial slalements. so far as apF4icable to the company. The financial statements have been prepared In accordance with Ihe provisions applicable to companies subject to the Small companies, regime and in accordance wilh FRS 102 "The Financial Reporting Standard applicable in the UK ani4 Republic of Ireland., applying SecliM 1A of that Slandard. Approved by the Board of Dlrectors and authorisod for l*•u• on 27 Mor¢h 2024 and 8i9n•d on Its bohalf by Brenda Morr1$ Dlrector Tho nol8$ tyi pag•$ 6 10 12 form part ol th6 financlal stslomonls
Glenelly Development Trust Limited (A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2023
1. GENERAL INFORMATION
Glenelly Development Trust Limited is a company limited by guarantee incorporated in Northern Ireland. The registered office of the company is 11B Main Street, Plumbridge, Omagh, Co Tyrone, BT79 8AA, 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 company 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 company for the financial year ended 31 December 2017 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.
Fund accounting
The following are the categories of funds maintained:
Restricted funds
Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the company.
Unrestricted funds
Unrestricted funds consist of General and Designated funds.
▪ General funds represent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the company.
▪ Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the board's discretion to apply the fund.
Income
Income is recognised by inclusion in the Statement of Financial Activities only when the company is legally entitled to the income, performance conditions attached to the item(s) of income have been met, the amounts involved can be measured with sufficient reliability and it is probable that the income will be received by the company.
Income from charitable activities
Income from charitable activities include income earned from the supply of services under contractual arrangements and from performance related grants which have conditions that specify the provision of particular services to be provided by the company. Income from government and other co-funders is recognised when the company is legally entitled to the income because it is fulfilling the conditions contained in the related funding agreements. Where a grant is received in advance, its recognition is deferred and included in creditors. Where entitlement occurs before income is received, it is accrued in debtors.
Grants from governments and other co-funders typically include one of the following types of conditions:
▪ Performance based conditions: whereby the company is contractually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the company is meeting the core objectives of a grant agreement, it recognises the related expenditure, to the extent that it is reimbursable by
8
continued
Glenelly Development Trust Limited (A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2023
the donor, as income.
▪Time based conditions: whereby the company is contractually entitled to funding on the condition that it is utilised in a particular period. In these cases the company recognises the income to the extent it is utilised within the period specified in the agreement.
In the absence of such conditions, assuming that receipt is probable and the amount can be reliably measured, grant income is recognised once the company is notified of entitlement.
Grants received towards capital expenditure are credited to the Statement of Financial Activities when received or receivable, whichever is earlier.
Expenditure
Expenditure is analysed between costs of charitable activities and raising funds. The costs of each activity are separately accumulated and disclosed, and analysed according to their major components. Expenditure is recognised when a legal or constructive obligation exists as a result of a past event, a transfer of economic benefits is required in settlement and the amount of the obligation can be reliably measured. Support costs are those functions that assist the work of the company but cannot be attributed to one activity. Such costs are allocated to activities in proportion to staff time spent or other suitable measure for each activity.
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 | - | 2% Straight line |
|---|---|---|
| Fixtures, fittings and equipment | - | 25% Reducing balance |
| Motor vehicles | - | 25% 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 company from government agencies and other co-funders, but not yet received at financial 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.
Taxation and deferred taxation
No current or deferred taxation arises as the company 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 | CHARITABLE ACTIVITIES | Unrestricted | Restricted | 2023 | 2022 | |
| Funds | Funds | |||||
| £ | £ | £ | £ | |||
| Grants from governments and other | co-funders: | |||||
| Income from charitable activities | 44,013 | 78,703 | 122,716 | 75,194 | ||
| ═══════ | ═══════ | ═══════ | ═══════ | |||
| 4. | EXPENDITURE | |||||
| 4.1 | CHARITABLE ACTIVITIES | Direct | Other | Support | 2023 | 2022 |
| Costs | Costs | Costs | ||||
| £ | £ | £ | £ | £ | ||
| Expenditure on charitable activites | 67,268 | 43,966 | - | 111,234 | 99,234 | |
| ═══════ | ═══════ | ═══════ | ═══════ | ═══════ |
9
Glenelly Development Trust Limited
(A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS
continued
for the financial year ended 31 March 2023
| 5. | NET INCOME | 2023 | 2022 | ||
|---|---|---|---|---|---|
| £ | £ | ||||
| Net Income is stated after charging/(crediting): | |||||
| Depreciation of tangible assets | 9,978 | 11,742 | |||
| Grants receivable received | (90,703) | (53,249) | |||
| ═══════ | ═══════ | ||||
| 6. | INVESTMENT AND OTHER INCOME | 2023 | 2022 | ||
| £ | £ | ||||
| Revenue grants received | 90,703 | 53,249 | |||
| Bank interest | 9 | - | |||
| ─────── | ─────── | ||||
| 90,712 | 53,249 | ||||
| ═══════ | ═══════ | ||||
| 7. | EMPLOYEES AND REMUNERATION | ||||
| The staff costs comprise: | 2023 | 2022 | |||
| £ | £ | ||||
| Wages and salaries | 16,063 | 3,703 | |||
| Social security costs | 853 | 91 | |||
| ─────── | ─────── | ||||
| 16,916 | 3,794 | ||||
| ═══════ | ═══════ | ||||
| 8. | TANGIBLE FIXED ASSETS | ||||
| Land and | Fixtures, | Motor | Total | ||
| buildings | fittings and | vehicles | |||
| freehold | equipment | ||||
| £ | £ | £ | £ | ||
| Cost | |||||
| At 31 March 2023 | 438,176 | 84,922 | 11,070 | 534,168 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Depreciation | |||||
| At 1 April 2022 | 96,005 | 72,064 | 2,768 | 170,837 | |
| Charge for the financial year | 4,688 | 3,214 | 2,076 | 9,978 | |
| ─────── | ─────── | ─────── | ─────── | ||
| At 31 March 2023 | 100,693 | 75,278 | 4,844 | 180,815 | |
| ─────── | ─────── | ─────── | ─────── | ||
| Net book value | |||||
| At 31 March 2023 | 337,483 | 9,644 | 6,226 | 353,353 | |
| ═══════ | ═══════ | ═══════ | ═══════ | ||
| At 31 March 2022 | 342,171 | 12,858 | 8,302 | 363,331 | |
| ═══════ | ═══════ | ═══════ | ═══════ | ||
| 9. | DEBTORS | 2023 | 2022 | ||
| £ | £ | ||||
| Trade debtors | 26,574 | 19,172 | |||
| Taxation and social security costs | 2,364 | 3,683 | |||
| ─────── | ─────── | ||||
| 28,938 | 22,855 | ||||
| ═══════ | ═══════ | ||||
| 10. | CREDITORS | 2023 | 2022 | ||
| Amounts falling due within one year | £ | £ | |||
| Trade creditors | 2,875 | 9,986 | |||
| Accruals and deferred income | 6,350 | 7,400 | |||
| ─────── | ─────── | ||||
| 9,225 | 17,386 | ||||
| ═══════ | ═══════ |
10
Glenelly Development Trust Limited
(A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS
continued
for the financial year ended 31 March 2023
| 11. | GRANTS RECEIVABLE | 2023 | 2022 | ||||
|---|---|---|---|---|---|---|---|
| £ | £ | ||||||
| Capital grants received and receivable | |||||||
| At 1 April 2022 | 10,000 | - | |||||
| Increase in financial year | - | 10,000 | |||||
| ─────── | ─────── | ||||||
| At 31 March 2023 | 10,000 | 10,000 | |||||
| ═══════ | ═══════ | ||||||
| 12. | RESERVES | ||||||
| 2023 | 2022 | ||||||
| £ | £ | ||||||
| At the beginning of the year | 407,527 | 431,567 | |||||
| Surplus/(Deficit) for the financial year | 11,482 | (24,040) | |||||
| ─────── | ─────── | ||||||
| At the end of the year | 419,009 | 407,527 | |||||
| ═══════ | ═══════ | ||||||
| 13. | FUNDS | ||||||
| 13.1 | RECONCILIATION OF MOVEMENT IN FUNDS | Unrestricted | Restricted | Total | |||
| Funds | Funds | Funds | |||||
| £ | £ | £ | |||||
| At 1 April 2021 | 425,232 | 6,335 | 431,567 | ||||
| Movement during the financial year | (44,002) | 19,962 | (24,040) | ||||
| ─────── | ─────── | ─────── | |||||
| At 31 March 2022 | 381,230 | 26,297 | 407,527 | ||||
| Movement during the financial year | 11,482 | - | 11,482 | ||||
| ─────── | ─────── | ─────── | |||||
| At 31 March 2023 | 392,712 | 26,297 | 419,009 | ||||
| ═══════ | ═══════ | ═══════ | |||||
| 13.2 | ANALYSIS OF MOVEMENTS ON FUNDS | ||||||
| Balance | **Income ** | Expenditure | Transfers | Balance | |||
| 1 | April | between | 31 March | ||||
| 2022 | funds | 2023 | |||||
| £ | £ | £ | £ | £ | |||
| Restricted funds | |||||||
| Restricted | 26,297 | 78,703 | 78,703 | - | 26,297 | ||
| Unrestricted funds | |||||||
| Unrestricted General | 381,230 | 56,022 | 44,540 | - | 392,712 | ||
| ─────── | ─────── | ─────── | ─────── | ─────── | |||
| Total funds | 407,527 | 134,725 | 123,243 | - | 419,009 | ||
| ═══════ | ═══════ | ═══════ | ═══════ | ═══════ | |||
| 13.3 | ANALYSIS OF NET ASSETS BY FUND | ||||||
| Fixed | Current | Current | Long-term | Total | |||
| assets | assets | liabilities | deferred | ||||
| - charity use | income | ||||||
| £ | £ | £ | £ | £ | |||
| Restricted trust funds | 19,880 | - | - | - | 19,880 | ||
| ─────── | ─────── | ─────── | ─────── | ─────── | |||
| Unrestricted general funds | 333,473 | 84,881 | (9,225) | (10,000) | 399,129 | ||
| ─────── | ─────── | ─────── | ─────── | ─────── | |||
| 353,353 | 84,881 | (9,225) | (10,000) | 419,009 | |||
| ═══════ | ═══════ | ═══════ | ═══════ | ═══════ |
11
Glenelly Development Trust Limited
(A company limited by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS
continued
for the financial year ended 31 March 2023
14. STATUS
The company 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 financial 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. RELATED PARTY TRANSACTIONS
During the year, one of the directors carried out work on behalf of Glenelly Development Trust Ltd. This transaction was at arms length and the following amounts are included in the financial statements;
Sessional Costs £6,525 Travel £240
16. POST-BALANCE SHEET EVENTS
There have been no significant events affecting the Charity since the financial year-end.
12