Sion Mills Community Association Statement of Receipts and Payments For year ended 31 March 2024 Charity Number: 107755 st Unrestricted Reslricted Endowment Funds Funds Funds Tolal Funds Lasl Year Al Receipls Donations & Legacies Grants FundraisingActivities Al Subtotal A2 Assel and Inveslment Sales Room Hire 1,380 8,532 2,561 12.474 1,380 8.532 220 16,338 12,474 21.120 210 210 380 Insurance Reparalion 25,300 A2 Subtotal 210 Total Receipts 25,300 380 21,500 37,984 A3 Payments Cosl offyndraising events 12,029 12,029 9,788 Cosl ofiravel events 896 896 4,006 Governance costs A3 Subtotal Total Payments Net of Reeeipts/ Payments Transfer tolfrom Fund Surplus for tbe year 14,229 14,229 4,479 27.154 10,830 18273 3,227 Signature: Salome Preston Elaine Griffin ChairpersoD Secretary Date: /3_11- .9 io
Sion Mills Community Association Statement of Assets and Liabilities For year ended 3 1st March 2024 Charity Number: 107755 FuF7ds Unrestricted Reslricted Endowment Reconciliation Fz4nds Funds Funds Total Funds Last Year Cash at bank and in hand 31.03.2023 Surplusfor this year Cash at bank and in hand at year end 5.366 5,366 2,139 10,376 10,830 3,227 15,742 16,256 5,366 Bank & Cash Balance Bank Account Cash in hand Totals 16,102 94 16,102 94 16,256 5,346 20 5,366 other Assets Equipmenl 6,990 Hall 90,000 6,990 90,000 6,000 90,000 The accounts have been approved by the committee on J -1 l - I its behalf by: and signed on Signature: 6cnL Salome Preston Elaine GritTin Chairperson Secretary li
Sion Mills Community Association Notes to the Financial Statements st For year ended 31 March 2024 l. Accounting Polieies 1.1. Accounting convention The financial statements are prepared under the historical cost convention and are prepared in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) and follow the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practic¢ (issued March 2005). The charity has taken advantage of the exemption in IFRS I from the requirement to produce a cashfiow statement because it is a small charity. 1.2. Income resources Income from donations, fundraising and grants is included in incoming resources when these are received. When donors specify that donations and grants are for a particular restrlcted purpose, which do not amount to preconditions regarding entitlement, this income is included in incoming resources of restricted funds when received. An amount of £25,300 was claimed from the insurance company due to a flood in the community hall. This hall was repaired extensively with new electrics and plumbing installed. 1.3. Interest Receivable Interest is included on a receivables basis by the charity. 1.4. Resources expended Resources expended are included in the Statement of Receipts and Payments on a payables basis. 1.5. Fund accounting Unrestricted fimds relate to general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by fundersldonors or which have been raised by the charity for 12
particular puryoses. The cost of raising and administering such funds are charges against the specific fund. 1.6. Taxation The group is not registered for taxation purposes and there has been no tax charges arisen for the group for the year ended 31 March 2024. 2. Fundraising The charity has raised funds through donations of £1,380 and fundraising of £2,567. 3. Grant Income Funder Deny City & Strabane District Council Clear Grants Amount £6,431 Puryose Programmes and Running Costs Health and Wellbeing Prograrnmes £2102 4. Trustees ernoluments The trustees'neither received nor waived any emolument during the year. 5. Financial commitments The charity has no financial commitments at present. 6. Transaction with trustees The trustees attend meetings and carry out the business of the charity on a voluntary basis. 7. Charity Commission for Northern Ireland Sion Mills Community Association is a registered charity with the Charity Commission for Northern Ireland since 16 August 2021 under registration number 107755. 8. Going Concern In common with all community groups in Northern Ireland, the group continues to experience ditTiculties in securing long terni funding. However, in view of the grants awarded and with volunteer supporL the trustees are confident that the group can continue its activities and are therefore satisfied that it is appropriate for the fjnancial statements to be prepared on a going concern basis. 13