Company Registration No: N1681109 Company Charlty No: 107875 THE BRAID DEVELOPMENT GROUP LTD Company limited by guarantee Director< report and financial ststements For the year ended 31 March 2023
The Braid Development Group Ltd Company Limited by Euardntee For the year ended 31 March 2023 Contents Director Report 24 Independent Examiners Report to the Directors of The Braid Development group Ltd on the Unaudited Financial Ststements Statement of Financial Actwities Balance Sheet Notes to the Financial Statements i(>ii The following do not forni part of the financial statements Detsiled income and expenditure account 13
The Braid Development Group Ltd Company Limited by guarantee For the year ended 31 March 2023 Directors Stephen Marks Gregory Barr Gillian Forrest David Hagan Company Number N1681109 Charity Number 107875 Registered Office 42 Carnalbanagh Road Glenami Ballymena BT44 ODQ Independent Examiner Brian Boyd Bankers Ulster Bank
The Braid Development Group Ltd Company Limited by guarantee For the year ended 31 March 2023 The Dlrectors. Report The directors of the company present therr port and the financial ststements forthe year ended 31 March 2023. Principal Actlvlties The Companls objett5 are specifically restricted to the following: li) The advanment of urban and rural regeneration, redevelopment and revitalization, and the advancement of heritage and community development in the Northern Ireland Council Areas of Mid and East Antrim and Causeway Coast and Glens by: a) PromotinR economic develoDment for the benefft of the Reneral Dublic: bl Supporting and developing the work of communty-based and voluntary groups in charitable activity by providin8 SUPPOrt services, accommodation, facilities and other venues. The Directors are satisfied that the company has achieved its objectwes in the year under review. Dlrectors The comoanv is governed bv its Memorandum and Articles of Association. The Directors who served during the year are as stated below: Stephen Marks Gregory Barr Gillian Forrest David Hagan In accordance with the Articles of Association Directors shall be elected by the members at an Annual General Meeting. Directors have assessed major risks to which the company is exposed. in particular those related to the operations and finances. and are satisfied that systems are in place to mitigate exposure. Page 2
The Braid Development Group Ltd Company Limited by guarantee For the year ended 31 March 2023 The Directors. Report Financial Revlew Total incoming resources amounted to £0 and after deducting totsl sOurceS expended of £2,049 net incominR SOurceS amounted to1£2.049). At the year*nd unrestricted funds amounted to £388 and restricted fvnds amounted to £2,868. Statement of Directorg Responslbllltles The Directors are responsible for preparing the Directors, Annual Report and the financial ststements in accordance with applicable law and United Kingdom Accounting Standards {United Kingdom Generalty Accepted Accounting Practice). Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the charitable company and the incoming resources and application of the resources, including the net income or expenditure. of the charitable company for the year. In preparing these financial ststements, the Directors are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP make judgements and estirnates that are reasonable and prudent: state whether applicable UK Accounting Standards have been followed, subject to anv material departures disc105ed and explained in the financial ststements: prepare the financial ststements on a going conrn basis unless it is inappropriate to Dresume that the charitable comDanv will continue in ODeration. The Directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and which enable them to ensure that the financial statements comply with the Companies Act 21XJ6. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Small Company Provisions This report has been prepared in accordance with the special provisions for small companies under Part 15 of the Companies Act 2(X)6.
The Braid Development Group Ltd Company Limited by guarantee For the year ended 31 March 2023 The Dlrectors, Report Thi5 reDOrt was aDDroved bv the Directors at the meetin2 on 18 Januarv 2024 and si2ned on its behalf bv Stephen Marks Dirertor Page 4
The Braid Development Group Ltd Company Limited by guarantee For the year ended 31 March 2023 Independent Examiners Report to the Dirertors of The Braid Development Group Ltd I report on the accounts of the company forthe year ended 31 March 2023 Set out on pa8es 7 to 13. Respectlve responsibilities of trt and examiner As the charity trustees (and also the dtrectors of the company for the purposes of company law) you are resDonsible for the preparation of the accounts in accordance with the reouirements of the Companies Act 21X)6. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination. it is my responsibility to: {1) Examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008; {2) Follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9){b) of the Charities Act; and {3) State whether particular matters have come to my attention. Basis of Independent examinerfs report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charities Commission for Northem Ireland under section 65(9}{b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seekin8 explanations from you as charity trustees concerning any such matter5. My role is to state whether any material matters have come to my attention gNing me cause to believe". (l) The accounting records were not kept in accordance with section 386 of the Companies Act 2(X)6 (2) That the accounts do not accord with those accounting CordS (3} That the accounts do not comply with the accountin8 requirements of section 396 of the Companies Act 2(K)6 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to in the UK and Republic of Ireland. (4) That there ts further information needed for a proper understanding of the accounts to be reached. Paee 5
Independent examlners statement I have completed my examination and have no concerns in respect of the matters {1} to (4) listed above and in connection wtth following the Directors of the Charity Commission for Northem Ireland, I have found no matters that require your attention. Independent Examinerfs Report to the Trustees of The Braid Development Gmup Ltd Brian Boy 10 January 2024 Page 6
The Braid Development Group Ltd Company Limited by Guarantee for the year ended 31 March 2023 Note Unrestrirtd Restrirted Funds Funds Total Funds 2023 Incomin Resources Grants received Bank Interest Donations Totsl incoming resources Resources nded Charitable activities Administration expenses 2.032 2,032 17 17 Total Resources Expended 17 2.032 2.049 Net (outgolng)/incoming resources for the year being net movement in funds Funds brought forward 405 (17) 5.305 (2,049) (2,0321 Funds arried forward 388 2,868 3,256 All amounts relats to continued activities Page 7
The Braid Development Group Ltd Company Limited by Guarantee Balance Sheet for the year ended 31 March 2023 Notes 2023 CURRENT ASSErs Cash at bank 3.256 CREDITORS Amounts falling due within one year NEf CURRENT A55Ers 3.256 TOTAL ASss LESS CURRENT UABIUTIES 3.256 NEf ASSErs 3,256 FUND5 Unrestricted Funds Restricted Funds 2,868 TOTAL FUNDS 3,256 Page 8
The Brald Development Group Ltd Company Limited by guarantee For the year ended 31 March 2023 Balan Sheet Contlnued: The charrtable company is entitled to exemption from audit under Section 257A of the Companie5 {Northern Ireland) order 1986 for the year ended 31 March 2023. The members have not required the charitable company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordan with Article 257B(2) of the Companies {Northern Ireland) order 1986. The trustees acknowledge their responsibilities for (a) Ensuring that the charitable company keeps accounting records that comply with Section 386 and 387 of the Companies Art 2Q)6 and (b) Preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 21X)6 relating to financial statements. so far as applicable to the charitable company. These financial statements have been prepad in accordance with the special provisions of Part 15 of the Companies Act 2CK16 relating t0 Small charitable companies and with the Financial Reporting Standard for Smaller Entities {effective January 2015}. The financial statements were approved by the Board of Trustees on 18 January 2024 and were signed on its behalf by: step n Marks Trustee/Director The notss forni part of the financial statements Page 9
The Braid Development Group Ltd Company Limited by guarantee For the year ended 31 March 2023 Notes to the Financial Statements I. ACCOUNTING pouaES a) Basls of preparing financial statements The financial statements are prepared on the going concern basis. b) Accounting convention The financial ststements have been prepared underthe historical cost convention and in accordance with the Financial ReFM)rting Standard for Smaller Entities {effective April 2(K)8), the Companies Act 2(X16 and following the recommendations in Accounting and Reporting by Charities: Statement of Recommended Practice {SORP 2CK)5) issued in March 2(X)5. c) Incoming Resources Incoming resources are included in the Statement of Financial Activities in the period in which they are re1Vable. Grant income is included in the period of receipt. d) Expenditure Expenditure is recognised in the period in which it is incurred and is allocated to expense headings on a direct basis. e) Funds The charitable company has two types of funds for which it is responsible. A definition of the two types of funds is as follows: Restricted Funds Funds received which are earmarked by the donor for specific purposes. Such purposes are within the overall aims of the company. Unrestricted Funds Funds which are expendable at the discretion of the directors and have been designated for specific purposes to further the objects of the charity. Page 10
Notss to the Financial Statemeftts- Contlnued 2. INCOMING RESOURCES All incoming resources are included on the Statement of Financial Activities when the charity is legalty entitled to the income. Grants Revenue grants are credited to incoming resources on the earlier of the date of when they are received or when they are receivable. Donations Donation5 are credtted to incoming resources in the period to which they relate. 3. DEBTORS 2023 Trade Debtors 4. CREDITORS 2023 Trade cdItorS 5. FUNDS Restricted Unrestricted Total Fund Fund At l April 2022 Net loutg05ng)/incoming resources for the year At 31 March 2023 4.9(X) 5.305 (2.032) (2,049) z 3.256 (17) & TrANSACTIONS WITH DIREcfoRS None of the Directors. or any person associated with them has received or is due to receive any renumeration for the year. either dirertty or indirectly from the company funds. 7. COMPANY UMITED BY GUARANTEE The company is registered under the Companies Act 2tK)6 and is a company limited by guarantee. The members of the company are the directors named on page l. The company is also an exempt charity. Page 11
The Braid Development Group Ltd Company Limited by guardntse For the year ended 31 March Z023 Management Infornh*ion The following pages do not fomi part of the statirtory accounts
The Braid Development Group Ltd Company limited by Guarantee for the year ended 31 March 2023 Detsiled Income & ExDenditure Account 21YLS INCOMING RESOURCES Cirantt Bank Interest Donations TOTAL INCOMING RESOURCES RESOURCES EXPENDED Bank Fees Company House Fee Training Professional Fees Events 13 540 150 1,342 TOTAL RESOURCES EXPENDtv 2.U4Y NEf EXPENDITURE Page 13