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
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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.
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