L¢314 Charity registration number NIC107774 (Northem Ireland} Company registTation number N1642200 THE BETHANY COMMUNITY TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
THE BETHANY COMMUNITY TRUST LEGALAND ADMINISTRATIVE INFORMATION Trustees Monsignor B Mccanny Or S Bradley Mr F McAuley Mr G McNicholl Mr N MacFtynn M HaOn Charlty number {Northern Ireland) NIC107774 Company number N16422fXJ Registered office 115 Irish Green Street Limavady BT49 9AB Independenl examiner PFS & Partners 16 Main Street Limavady BT49 OEU Bankers Bank of Ireland 2 The Diamond Coleraine BT52 1DE
THE BETHANY COMMUNITY TRUST CONTENTS Page Trustees, report Independenl examinerfs report statement of financial activities Balan sheet Notes to Ihe financial statements 6-12
THE BETHANY COMMUNITY TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 The Iruslees present their annual report and financial statements for the year ended 31 December 2024_ The financial slalements have been prepared in accordance with the accounting policies set out in note 1 to the financial slaletnen15 and cotnply with the charity's 9overning document. the Companies Act 2006 and 'Accounling and Reporting by Charities.. Slalement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective 1 January 20191. This document has been Prepared based on the guidance provided by the Charity Commission and Trustees have had regard to the Commission's Public Benefit requirement slalulory guidance. Objective5 and activities The Bethany Community Trust was set up by members of the Limavady Community with the objective of building a local communty hall on the site of a parish hall that was destroyed in a fire in 2009. The sile of the Community Centre lies in an idenlrfied area of deprivation. Accordingly, the Bethany TTUSI was able to attract funding from the Neighbourhood Renewal Ir)vestmeni Fund which operates under the auspices of the Department for Communities ID for C) in Northem Ireland. The application was successful and the Trust received a grant of £400.000 towards the cost of Ihe building. The cost of the build was approximalely £1 million. The Parish of Limavady provided £720.000 with the b31anGe coming from the Neighbourt)ood Renewal Inveslment Fund. The build work was completed in 2020 and the charity took delivery of the keys in Seplember 2020. The building was used inlrequently over the first two years. The calendar year 2022 was the first year when the Bethany Comwnunity Centre was free to open wlhoul Covid-1 s reslriclions. The day lo day management of the Commvnity Centre is carried oul by a steering group drawn from the different groups using the faGilily. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and perfomiance The following groups are presently using the Community Cenlre on an ongoing basis-. Senior Citizen5 Mourners Ecumenical Groups Sl Vincent de Paul i Salvation Army at Christmas time Community meetings Bowling club5 Children's summer scheme Special needs groups Local drama and arts groups Voluntary outreach programmes I courses School parents and teachers associats'ons Community concgrts and show5, 9U9$1 leas et¢. Health and well being lelderly etc.) Pilates Financial review Total incorning resources amounted to £14.484 (2023-. £17.233) and after deducting resour$ expended of £36,773 12023.. £42,521) nel expenditure of resources amounted to £22.28912023". £25,288).
THE BETHANY COMMUNITY TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Structure, governance and management The Bethany Community Trust. a private company limited by guarantee, was incorporated on 17 NovemkEr 2016 Icompany No.. Nl 6422001. The Directors of the Trust are all drawn from the local community and give their lime and professional expertise completely free of charge. The Northern Iieland Charities Comtnission approved The Bethany Community Trust's Tegislralion on 23 November 2020. The Iruslees, who are also the directors for the purpose of company law. and who served during the year and up to the dale of signature Df the financial slatemenls were_. Monsignor B Mccanny Dr S Bradley Ir F McAuley Ir G McNicholl Ir N MacFlynn Mis M Harron Recruitment arpd 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 Iruslee by either an ordinary resolution or by a decision of the Iruslees. Unle55 olhetwise determined by the company in General Meeting the number of trustees shall be not less than Iwo. None of the ITUStee5 has any beneficial interest in the company. All of the Iruslees are members of the company and guarantee to contribute £1 in the event of a winding up. The trustees, report was approved by Ihe Board of Trustees. N icholl ustee 25 February 2025
THE BETHANY COMMUNITY TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BETHANY COMMUNITY TRUST I report to the trustees on rny exatnination of the financial slatemenls of The Bethany Community Trust {Ihe charilyl for the year ended 31 December 2024. Responsibilities and basis of report As the trustees of the charity land also its diiectOTS for the purposes of company law), you are responsible for the prepaialion of the financial slatemenls in accordance with the requirements of the Companies Act 2006. Having satisfied myself Ihat the financial slatements of the thartty are not required io be audited 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 statements carried out under section 65 of the Charities Act {Northern Ireland) 2008 Ilhe 2008 Acll. In carrying out my examination I have follokved all the applicable Directions given by The Charity Commission for Northein Ireland under section 65191{bl of Ihe 2008 Act. Independent examiner's statement I have completed rny examination. I confirm that no matters have come to my attention in connection with the examination giving me cause lo believe that in any material respect- accounting recoids were not kept in respecl of the charity as required by section 386 of the Companies Act 2006. the financial slalements do not accord with those records- or the financial statements do not comply with the accounb.ng requirements of section 396 of the Companies Act 2006 other than any requiiement that the financial statements give a true 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 the Statement of Recommended Practice for accounting and ieports'ng by charities applicable lo charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021- I have no concerns and have come across no other matters in connecb.on with the examination to which attention should be drawn in this report in order lo enable a proper understanding of the Iirbancial slatemenls lo be reached. ffJ - Q6tJ kn PFS & Partners 16 Ma1n Street Limavady BT49 OEU 25 February 2025
THE BETHANY COMMUNITY TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024 Unrestricted Restricted funds funds 2024 2024 Tolal Unrestricled Restricted funds fund5 2023 2023 Total 2024 2023 Notes Income from.. Donations and legacies 14.484 14,484 17,233 17.233 Totsl income 14,484 14,484 17.233 17,233 Expenditure on= Charitable activities 36,773 36.773 42,521 42,521 Total expenditure 36,773 36.773 42.521 42.521 Net expenditure 122.2891 122,289) (25.2881 {25,288) Transfer5 between funds 40,000 (40.000) 40,000 (40,0001 Net movement in fund5 17.711 {40.000} 122.2891 14,712 {40,0001 125,2881 Reconciliation of fund5- Fund balances at 1 January 2024 101,365 200.000 301.365 86.653 240,000 326,653 Fund balances at 31 Decewnber 2024 119,076 160.000 279.076 101.365 200,000 301,365 The statement of fin8ncial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
THE BETHANY COMMUNITY TRUST BALANCE SHEET ASAT 31 DECEMBER 2024 2024 2023 Notes Fixed assets Tangible assets 946.247 968.394 Current assets Cash al bank and in hand 53,521 53,576 Creditors.. amounts falling due within ono year 10 {692) 16051 Net current assets 52.829 52,971 Total assets less Current liabilities 999.076 1.021,365 Creditors.. amounts falling due after more than one year 11 {720.0001 (720.0001 Net assets 279,076 301.365 The funds of the charity Restricted income funds Unreslricled funds 12 13 160.000 119.076 200.000 101,365 279.076 301,365 The company is enlilled to the exemplion from Ihe audit requirement contained in seclion 477 of the Companies Act 2006, for the year ended 31 December 2024. The directors acknowledge their responsibilities for complying wilh the requirements of the Companies Act 2006 wilh respect lo accounting records and the preparation of financial statements. The members have not required the company lo obtain an audtt of ils financial statements for the year in question in accordance with section 476. These financial statements have been prepaTed in accordance wlh the provisions applicable to Companies subject to the small companies regime. The financial stateme Is re approved by the trustees on 25 Febnjary 2025 Mr F McAuley Trustee Nieholl stee Company registration number N1642200 (Northem Ireland)
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies Charity information The Bethany Community Trusl is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 115 Irish Green Street. Limavady. BT49 9AB. 1.1 A¢¢ounting convention The financial statements have been prepared in accordance wilh the Charity's governing document, the Companies Act 2006. FRS 102 "The Financial Reportin9 Standard applicable in the UK and Republic of Ireland and the Charities SORP "Accounting and Reporting by Charities." Stslemenl of Recommended Practice applicable lo charilies preparing Iheir accounts in accordance wtth the Financial Reporting Standard applicable in the UK and Repu1¢ of Ireland IFRS 1021" The charty is a Public Benefit Entity as defined by FRS 102. The charity has taken advanlage of the provisions in the SORP for charilies not to prepare a slalgnenl of cash flows. The financial slalements are prepared in sterling, which is the functs.onal currency of the charity. Monetary amounts in these financial slalement5 are rounded to the nearest £. The financial slalements have been prepared under the historical cost convenlion. Imodified lo include the revalualion of freehold properties and lo include investment properties and certain financial instruments al fair valuel. The princtpal accounting policies adopted are set out below. 1.2 Going coneem At the lime of appioving the finanGial stalemenls. Ihe trustees have a reasonable expectation that the charity has adequate resources to continue in operational exislence for Ihe foreseeable future. Thus the trustees continue to adopt the going concem basis of accounting in preparing the financial slalemenls. 1.3 Charitable funds Unrestricled funds are available foT use at the discretion of the Irustees in furtherance of their charitable objeclives. Restricted funds are subject to specific conditions by donors or granlors as lo how they may be used. The purposes and uses of the restricted funds are set out in the notes lo the financial slatemenls. Endowm2nt funds are subject to Specif condilions by donors that the capital musl be maintained by the charity. 1.4 Income Income is recognised when the charity is legalty entitled to il after any perfotrnance conditions have been mel. the amounts Can be measured reliabty. and il 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 donation. unless performance conditions reouire deferral of the amoLSnt. Income lax recoverable in relation to donations received under Grfl "d OT 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 distribution, the amount 15 known. and receipt 15 expected. If the amount is not known, the legacy is treated as a contingent assel.
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {Continuedl 1.5 Expenditure Expenditure is recognised once there is a legal or conslructive obligab-on lo transfer economic benefil to a third party, il is probable that 3 transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activty- The costs of each activity are made up of the total Df dir1 costs and shared costs, including support costs involved in undertaking each activty. Direcl costs attributable to a single activity are allocated directly lo that activity. Shared costs vihich contribute lo more than one activity and support costs which are not attributable to a single activty are apportioned between those activities Dn a basis CDnsislent with the use of resources. Cenlfal staff costs aTe allocated on the basi5 of lime spent, and deprecialion charges are allocated on the portion of the asset's use. 1.6 Tangible fixed assets Tangible fixed as5els are initially measured at cost and subsequently measured at cost or valuation, nel of depreciation and any impairmenl losses. Depreciation is recognised so as lo write off the cost or valualion of asse15 less their residual values over their useful lives on the following bases_. Freehold land and buildings Fixtures and fittings 2UK straight line 15JA reducing balance The gas or Ios5 arising on the disposal of an asset is delermined as the difference belween the sale pioceeds and the carrying value of the asset, and is recognised in the statetnent of financial activities. 1.7 Impairment of fixed assets At each reporting end dale, the charity reviews the carrying amounts of ils tangible assets lo determine whether there is ar)y indication that those assets have suffered an Impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif anyl_ 1.8 Cash and cash equivalent5 Gash and cash equivalents indude cash in hand. deposits held at call with banks, other short-lerrn liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts a shown within borrowings in current liabilities. Basic financial assets Basic financial assets. which include debloTS ar)d cash and bank balances, are initially measured al Ifansaction price including Iran5a¢lion ¢0s1s and are subsequently caffled al amortised cost using the effective interest method unless the arrangement conslilutes a financing transaction. where the transaction is measured al the piesent value of the fuluTe ieceipls discounted al a market rale of interest. Financial assets classified as receivable viilhin one yeai are not amortised.
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting policies {Continuedl Basic financial liabilities Basic financial liabilities, induding creditors and bank loans are initially recognised al transaction pri unless the arran9ement constitutes a financing transaction. where the debt instrument 15 measured at the present value of the future payments discounled al a market rate of inleresl. Financbal liabilities classilied as payable within one year are not amortised. Debt instruments are subsequenlty carried al amorb"se(J cosL using the effective interest rate rnethod. Trade creditors are obligations lo pay for goods or services Ihal have been acquired in the ordinary course of operations trom suppliers. Amounts payable are dassrfied as currenl liabilities if payment is due within one year or less. If not. they are presented as non-currenl liabililies. Trade creditors are recognised initially at transaction price and subsequently measuTed at amortised cost using the effective inleresl method. Derecognition of financial liabiTlITties Financial liabilities are derecognised when the charity's conlradual obligations expire or aTe discharged or cancelled. 1.9 Employee benefits The cost of any unused holiday entrtlement is recognised in the period in which the employee s services are received. Termination benefits are recogni5ed itnmedialely as an expense when the charity is demonstrably committed to terminate the employment of an employee or lo provide lerminalion benefits. Critical accounting estimates and judgements In the application of the charity's accounting policies. Ihe ITLlSlees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associaled assumptions are based on histoiical experience and other factors that are considered to be ielevant. Actual resutts may differ from these estimates. The estimates and undedying assumptions are reviewed on an Dngoing basis. Revisions lo accounting eslimales are recognised In the period in which the estimate is revised vlhere 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 funds 2024 Unrestricted funds 2023 Hall Hire 14.484 17,233
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expenditure on charitable activities Hall Hire 2024 Hall Hire 2023 Direct costs Depreciatson and impairment Water rates Heal and light Maintenance Telephone Funeral expenses Bank charges General expenses 22.147 361 5,564 3,938 884 2,470 157 102 22,467 783 5,949 7,815 606 3.590 171 1601 35.623 41.321 Share of support and governance costs (see note S) Governance 1.150 1.200 36.773 42.521 Analysis by fund Unrestricted fkJnd5 36,773 42,521 Support costs allocated to activities 2024 2023 Governance cosls 1.150 1,200 Analysed between: Hall Hire 1,150 1,200 Net movement in funds 2024 2023 The nel movement in funds is slated after chargingl{crediting}= Fees payable for the independent examination of the charitys finanual 51alemenls Depreciation of owned tangible fixed a55ets 1,150 22,147 1,200 22.467 Trustees None of the Iruslees lor arby persons connecled with them) received any remuneration or benefits from the charity during the year.
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Employees The average monthly number of employees during the year was= 2024 Number 2023 Number Total There were no employees whose annual remuneration was more than £60.000. Tangible fixed assets Freehold land Fixtures and and buildings fillinys Total Cost At 1 January 2024 1.016,865 19.654 1.036,519 At 31 December 2024 1,016.865 19.654 1,036,519 Depreciation and impairmerrt Al 1 January 2024 Depreciation charged in the year 60.541 20.337 7,584 1,810 68,125 22,147 At 31 December 2024 80,878 9.394 90,272 Carrying amount Al 31 December 2024 935,987 10,260 946.247 Al 31 December 2023 956,324 12,070 968.394 10 Creditors: amounts falling due within one year 2024 2023 other taxation and social secuiity 692 605 11 Creditors- amounts falling due after more than one year 2024 2023 Parish loan 720,000 720.OQO This is a concessionary loan granted to the Charity by Sl. Mary's Parish. Limavady.. on terrns which are not market Telaled. The loan was granted lo assist the Charity in achieving its policy objectives. No inlerest is levied by the Parish and repayment lerrns are Ilexible. 10-
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 12 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as lo how they may be used. At 1 January 2024 Transfers At31 December 2024 DFC Grant 200,000 {40.000) 160,000 Previous year.. At 1 January 2023 Transfers At31 December 2023 DFC Grant 240.1)JO 140.000) 200,000 13 Unrestricted funds The unrestricted funds of Ihe charity comprise the unexpended balances of donations and grants which are not Subject to specific conditions by donois and grantors as to how they rllay be used. These include designaled fund5 which have been Sel aside out of unrestricted funds by the trustees for specific purposes. At 1 January 2024 Incoming resources Resources expended Transfer5 At31 December 2024 General funds 101.365 14.484 {36.7731 40.000 119,076 Previous year- At 1 January 2023 Incoming resources Resources expended Transfers At31 December 2023 General funds 86,653 17.233 142,5211 40.000 101,365 11
THE BETHANY COMMUNITY TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 14 Analysls of net assets betweèn funds Unrestricted fund5 2024 Restricted funds 2024 Total 2024 At 31 December 2024= Tangible assets Current asset5111iabilities} Long term liabilities 786,247 52,829 (720.000) 160,000 946.247 52.829 (720.0001 119.076 160,000 279.076 Unrestricted funds 2023 Restrlcted funds 2023 Total 2023 At 31 December 2023= Tangible asse15 Gurrent asset51{liabilities} Long term liabilities 768,394 52,971 {720,OIXII 200.000 968.394 52.971 1720.0001 101,365 200,000 301.365 15 Related party transactions There were no disclosable related party transactions during the year12023- none). 12-