Charity registratlon number NIC107774 Company registration number N1642200 {Northern Ireland) THE BETHANY COMMUNITY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
THE BETHANY COMMUNITY TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trustees Monsignor B Mccanny Dr S Bradley Mr F McAulay Mr G McNicholl Mr N MacFlynn Mrs M Harron Charity number NIC107774 Company number N1642200 Registered office 115 Irish Green Street Limavady BT49 9A8 Independent examiner PFS & Partners 16 Main Slreet Limavady BT49 OEU Bankers Bank of Ireland 2 The Diamond Coleraine BT52 1 DE
THE BETHANY COMMUNITY TRUST CONTENTS Page Trustees, report Independent examinevs report Stalement of financial activities Balance sheet Notes to the financial statements 6-12
THE BETHANY COMMUNITY TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The trustees present their annual report and financial statements for the year ended 31 December 2023. The financial statements have been prepared in accordance with the accounting policies set out in nole 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021" leffective 1 January 2019). This documenl has been prepared based on the guidance provided by the Charity Commission and Trustees have had regard to Ihe Commission's Public Benefit requirement statutory guidance. Objectives and activities The Bethany Community Trust was set up by members of the Limavady Community with the objective ofbuilding a local community hall on the site of a parish hall that was destroyed in a fire in 2009. The site of Ihe Communily Centre lies in an identified area of deprivation. Accordingly, the Belhany Trust was able to attract funding from the Neighbourhood Renewal Investment Fund which operates under the auspices of the Department for Communities {D for Cl in Northern Ireland. The application was successful and the Trust received a grant of £400,000 towards the cost of the building. The cost of the build was approximately £1 million. The Parish of Limavady provided £720,000 with the balance coming from the Neighbourhood Renewal Investment Fund. The build work wa5 completed in 2020 and the charity took delivery of Ihe keys in September 2020. The building was used infrequently over the first two years. The calendar year 2022 was the first year when the Bethany Community Centre was free to open without Covid-19 restriction5. The day lo day management of the Community Cenlre 15 carfied out by a steering group drawn from the differenl groups using the facility- Public benefit The Irustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and perfomianee Significant activities and achievements against objeGtives The following groups are presently using the Community Centre on an ongoing basis= Senior Citizens Moumers Ecumenical Groups st Vincenl de Paul I Salvation Army at Christmas lime Community meetings Bowling clubs Children's summer scheme Special needs groups Local drama and arts groups Voluntary outreach programmes I courses School parents and teachers associalions Community concerts and show5, guest teas etc. Health and well being lelderly etc.} Pilates Financial review Total Incoming resources amounted to £17,233 (2022.. £19,594) and after deducting resourGes expen(led of £42.521 12022.. £40,551) net expenditure of resources amounted to £25,28812022'. £20,957).
THE BETHANY COMMUNITY TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Structure, govemance and management The Bethany Community Trust, a private company limited by guarantee, was incorporaled on 17 NOVemr 2016 (company No.. Nl 642200). The Directors of the Trusl are all drawn from the local community and give their time and professional expertise completely free of charge. The Northem Ireland Charities Commission approved The Bethany Communily Trust's registration on 23 November 2020. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Monsignor B Mccanny Dr S Bradley Mr F McAulay Mr G McNicholl Mr N MacFlynn Mrs M Harron Recmitmenl and appointment of trustees Any person who is willing to act as a trustee, and is permitted by law to do so, may be appointed to be a trustee by either an ordinary resolution or by a decision of the trustees. Unless otherwise determined by the company in General Meeling Ihe number of Irustees shall be not less than 0. None of the trustees has any beneficial interest in the company. All of the truslees are members of Ihe company and guarantee to conlribute £1 in Ihe event of a winding up. The trustees, report was approved by the Board of Trustees. GMC stee choll 27 February 2024
THE BETHANY COMMUNITY TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BETHANY COMMUNITY TRUST I report to the Iruslees on my examination of the financial ststements of The Bethany Community Trust (the charity) for the year ended 31 Dember 2023. Responsibilities and basis of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of Ihe financial statements in accordance with Ihe requirements of the Companies Act 201A (the 2006 Acti. Having satisfied myself that the financial slatemenls of the charity are not required to be audiled under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial slatemenls carried out under section 65 of the Charities Act (Northern Ireland) 2008 {Ihe 2008 Act). In carying out my examination I have followed all the applicable Directions given by The Charity Commission for Northern Ireland under section 65191{b) of the 2008 Act. Independent examiner's statement I have completed my examination. I confim) that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were nol kept in respect of the charity as required by section 386 of the 2006 Act.. or the financial statements do not accord with those records., or the financial statements do not comply wilh Ihe accounting requirements of seclion 396 of the 2006 Act other than any requirement that the accounts give a tnje and fair view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of Ihe Stalement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial ststements to be leached. PFS & Partners 16 Main Street Limavady BT49 OEU Dated= 27 February 2024
THE BETHANY COMMUNITY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restricted funds funds 2022 2022 Total 2023 2022 Notes Income from: Donations and legacies 17,233 17,233 9,594 10,000 19.594 Charitable activilies 42,521 42,521 40,551 40,551 Net expenditure {25,288) (25.2881 {30.957) 10,000 (20,957) Transfers belween funds 40,000 140,000) 160.000 1160,0001 Net movement in funds 14,712 140,000) {25,2881 129,043 1150,000} {20,9571 Reconciliation of funds: Fund balances at 1 January 2023 86,653 240,000 326.653 (42.390) 390.000 347,610 Fund balances at 31 December 2023 101,365 200,000 301,365 86,653 240,000 326,653 The statement of financial activilies includes 211 gains and losses recognised in the year. All income and expenditure derive from continuing aclivities.
THE BETHANY COMMUNITY TRUST BALANCE SHEET AS A T 31 DECEMBER 2023 2023 2022 Notes Fixed assets Tangible assels 968,394 990,861 Current assets Cash at bank and in hand 53,576 56,160 Creditors: amounts falllng due within one year 605 368 Net current assets 52,971 55.792 Total assets less current liabilities 1,021.365 1,046,653 Creditors: amounts falling due after more than one year 10 1720.0001 {720,000} Net assets 301,365 326,653 The funds of the charity Restricted income funds Unrestricled funds 11 200,000 101,365 240.000 86,653 301,365 326,653 The company is entttled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006. for the year ended 31 December 2023. The directors acknowledge their responsibilities for complying with the requirements of the Companies Acl 2006 with respect to accounling records and the preparation of financial statements. The members have nol required the company to obtain an audit of ils financial statements for Ihe year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the trustees on 27 February 2024 Mr F McAulay Trustee icholl Tr stee Company registration number N1642200 (Northern Ireland)
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies Charity infomiation The Belhany Community Trust is a private company limiled by guarantee incorporated in Northern Ireland. The registered office is 115 Irish Green Street, Limavady, BT49 9AB. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charity's Igoverning documenll, the Companies Acl 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities: Stalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 102)" (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial stalemenls have been prepared under the historical cost convention, Imodified to include the revaluation of freehold properties and lo include inveslment properties and certain financial inslruments al fair valuel. The principal accounting policies adopted are sel out below. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that Ihe charity has adequate resources to continue in operational existence for the foreseeable fvture. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted fvnds are available for use at the discretion of the trustees in furtherance of their chaiilable objectives. Restricted funds are subject lo specific conditions by donors or grantors as lo how they may be used. The purposes and uses of the restricted funds are set out in Ihe notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the harity. 1.4 Intome Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donalion, unless performance conditions require deferral of the amount. Income lax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending dislribulion. the amount is known, and receipt is expected. If the amount is nol known, the legacy is treated as a contingent asset.
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third patty, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dir1 co81s and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity- Shared costs which contribute to more than one activity and support costs which are not altributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of lime spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed assets are initially measured 81 cost and subsequenlly measured at cost or valuation, net of depreciation and any impaimient losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Freehold land and buildings Fixtures and fittings 2 /ty Straighl line 150/0 reducing ba18nce The gain or loss arising on the disposal of an asset is delermined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in Ihe statement of financial activities. 1.7 Impaimient of fixed assets At each reporting end date, the charity reviews the carying amounts of ils tangible assets lo determine whether there is any indication Ihal those assets have suffered an impairment loss. If any such indication exists, Ihe recoverable amount of the asset is estimated in order to detemiine the extent of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalen15 include cash in hand, deposits held at call with banks, other short-lerm liquid investments wilh original maturities of three months or Sess, and bank overdrafts. Bank overdrafls are shown within borrowings in current liabilities. Basic financial assets Basic financial assets, which include debtors and cash and bank balances. are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method Unless the arrangement constitutes a financing transaction, where the transaction is measured al the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies (Continued) Basic financial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaclion price unless the arrangement constitutes a financing transaction, where the debt instrument is measured al the present value of the future payments discounted al a market rate of interest. Financial liabililies classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using Ihe effective interest rate method. Trade credilors are obligalions to pay for goods or seNices Ihat have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financial liabilities Financial liabilrties are derecognised when the charity's contractual obligations expire or are discharged or cancelled. 1.9 Employee benefits The cost of any unused holiday enlitiement is recognised in Ihe period in which the employee's services are received. Temination benefits are recognised immediately as an expense when the charity is demonstrably commilted to terminate the employment of an employee or to provide termination benefits. Critical accounting estimates and judgements In the application of the charity's accounting policies, the Iruslees are required to make judgement5, estimates and assumptions about the carrying amount of assets and liabilities that are nol readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these eslimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donations and legacies Unrestricted Restricted funds funds 2023 2023 Total Unrestricted Restrlcted funds funds 2022 2022 Total 2023 2022 DFC grant Hall hire 10,000 10,000 9,594 17,233 17,233 9,594 17,233 17,233 9.594 10,000 19,594
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expenditure on charltable activities Hall Hire 2023 Hall Hlre 2022 Direct costs Depreciation and impairment Water rates Heat and light Repairs and maintenance Telephone Funeral expenses Bank fees Sundry 22,467 783 5,949 7,815 606 3,590 171 160) 22.843 490 6,704 7,178 461 1.017 158 41,321 38,851 Share of support and governance costs (see note 51 Governance 1,200 1,700 42,521 40,551 Analysis by fund Unreslricted funds 42,521 40.551 Support costs allocated to activities 2023 2022 Governance costs 1,200 1,700 Analysed between: Hall Hire 1,200 1,700 Trustees None of the trustees {or any persons connected with them) received any remuneration or benefits from the charity during the year. Employees The average monlhly number of employees during Ihe yearwas.. 2023 Number 2022 Number Total There were no employees whose annual remuneration was more than £60.000.
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Tangible fixed assets Fr•trhold land Fixtures and and buildings flttlngs Total Cost At 1 January 2023 1,016.865 19,654 1,036,519 At 31 December 2023 1,016,865 19,654 1,036,519 Depreciation and impaimient At 1 January 2023 Depreciation charged in Ihe year 40.204 20,337 5,454 2,130 45,658 22.467 Al 31 December 2023 60,541 7,584 68,125 Carrying amount At 31 December 2023 956,324 12,070 968.394 At 31 December 2022 976,661 14,200 990,861 Creditors: amounts falling due within one year 2023 2022 Other taxation and soci81 security 605 368 10 Creditors: amounts falling due after more than one year 2023 2022 Parish loan 720,000 720,000 This is a concessionary loan granled to the Charity by St. Mary's Parish, Limavady, on lerms which are not market related. The loan was granted to assist Ihe Charity in achieving its policy objectives. No interest is levied by the Parish and repayment terms are flexible. 11 Restricted funds The restricted funds of the charity comprise Ihe unexpended balances of donations and grants held on trust subjed to specifiG conditions by donors as to how they may be used. At 1 January 2023 Incoming resources Transfers At31 December 2023 DFC Grant 240.000 {40,000} 200.000
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Restricted funds {Continued} Prevlous year: At 1 January 2022 Incoming resources Transfers At31 December 2022 DFC Grant 390,000 10,000 1160,0001 240,000 12 Unrestricted funds The unrestricted funds ofthe charity comprise the unexpended balances ofdonations and grants which are not subject lo specific conditions by donors and gfanlors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the truslees for specific purposes. At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 General funds 86,653 17,233 (42.5211 40,000 101,365 Previous year: At 1 January 2022 Incoming resources Resources expended Transfers At31 December 2022 General funds (42,3901 9,594 {40,551) 160,000 86,653 13 Analysis of net assets between funds Unrestricted funds 2023 Restricted funds 2023 Total 2023 Fund balances at 31 December 2023 are represented by: Tangible assets Current assetsl{liabilities) Long term liabililles 768.394 52,971 (720,000) 200,000 968,394 52,971 1720,000) 101,365 200,000 301,365 11
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 13 Analysls of net assets between funds {Contlnued} Unrestricted funds 2022 Restricted funds 2022 Totsl 2022 Fund balances at 31 December 2022 are represented by: Tangible assets Current assetsl(liabilitiesl Long term liabilities 750,861 55,792 1720,0001 240,000 990.861 55.792 (720,000) 86,653 240,000 326.653 14 Related party transactions There were no disclosable related party transactions during Ihe year12022 - none). 12