COMPANY REGISTRATION NUMBER: N1659778
CHARITY REGISTRATION NUMBER: 108163
Rural Action
Company Limited by Guarantee
Financial Statements
31 March 2024
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN

Rural Action
Company Limited by Guarantee
Financlal Ststements
Year ended 31 March 2024
Page
Trustees, annual report (incorporating the director's report)
Independent auditorfs report to the members
Statement of financial activities (including income and
expenditure account)
15
statement of financial position
16
Statement of cash flows
17
Notes to the financial statements
18
The followlng pages do not form part of the flnanclal statements
Detailed statement of financial activities
30
Notes to the detailed statement of financial activities
31

Rural Action
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report)
Year ended 31 March 2024
The truste8s, who are also the directors for the purposes of company law. present their report and Ihe
financial statements of the charity for the year ended 31 MarGh 2024,
R•fernnrA and administratlve datall8
Reglstered charity namo
Rural Action
Charlty reglstratlon number
108163
Company reglstratlon numbor N1659778
Prlnclpal offlrA and reglstered Admlnlstration Building
offlce
Loughry Colleg8
Cookstown
BT80 9AA
Tyrone
Tho tru¥t•es
T McNally
A M¢Adam
S Henry
Dr M Farrell
K Addis
Audltor
Finegan Glbson Ltd
Chart8r8d accountants & statutory auditor
Causeway Tower
9 Jam8s Street South
Belfast
BT2 8DN
Bankers
Ulster Bank Ltd
11-16 Donegall Square East
Belfast
BT15UB

Rural Action
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) {¢ontinuod)
Year ended 31 March 2024
Structurei governance and management
Rural Action was established in 2019 with the objective of inspiring action and to mak8 posittve
Contribution to the averyday Iiv8s of rural peopl8. The organisation is a charitable company limited by
guarantée incorporated on 14 March 2019 and is registered as a charity {NIC1081631. The Company
was established under a Memorandum of Association and is governed undér its Articles of
Association.
Dlrectors and Trustees
The Directors of the charitable company (the Charlty) are Ils trustees for the purpose of charity law
and are known as members of the Rural Action Board. The Rural Action Board has 5 members (who
meet at least 6 times per year) representing a range of relevant Interestslexperlence including those
involved in the business community, communltylvoluntary sector, educalion and training.
Trustees Induction and Tralnlng
Induction and Training is provided to Trustees when they loln the Board. A skills audit has been
completed this year lo identify any potential gaps which will be addressed through training or future
recrultment drlves. This wlll support the Board In carrylng out thelr dulles.
Risk Managomont
The Rural Action Board has conduct8d a review of the major risks to which the charity 15 exposed. A
risk register has been established and is presented at each Board meellng. It is updated at least
annually. Where appropriate. syslems or procedures have been 8Stablish8d to mitigate the risks th8
charlty faces.
Organlsatlonal Structura
The current staffing structure of Rural Action includes the following roles: Chief Executive Officer
Head of Flnance & Governance
Head of Programmes
Head of Regeneration & Communities
Programm8 Officers x 2
Programme Support Officers x 2
Finance Administrators x 2
Adminlstrator

Rural Action
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 31 March 2024
Objectlvgs and actlvitjes
Rural Action's vision is of a living, working, sustainabl8 and shared communlty. It's mission is to inspire
action and to make a positive contribution to the everyday Ilves of rural people.
It aims to do this by..
Championing the needs of rural communities through consultatlon and community development
projects
D8slgning, delivering and inspiring practical community-based projects and actlons to alleviate
poverty, ensure economic vibrancy and promote health & social wellbeing
Encouraging and promoting so¢lal and 8conomic development and entrepreneurship to relieve
those in need by reason of youth, age, ill health, disablllty, financlal hardship or other disadvantage
Making our communities inclusive and attractlv8 places to live by assisting and engaging
communltl8S to d8V81op an inteftest in local culture. history, arts and tradltlons and through the
promotlon of equality and diversity
The achl8vements listed below detail Rural Actlon's perfomiance for 2023-2024 In advanclng its said
objectlves.
Public 8•n•fit Stat•rnent
The trustees have regard to the Charity Commission's guldance on publlc beneflt,
Strategic r•port
The following se¢tions for achi8v8m8nts and performance and financial review form the strateglc
report of the charlty.

Rural Action
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) (¢ontiftued)
Year ended 31 March 2024
Achlovements and performance
Rural Action is a registered charity and a company limited by guarant88. It operates across Northem
Ireland and the border region of Ireland from a base in Cookstown, Co. Tyrone. It has a small staff
team of 11 and is managed by a voluntary Board of DirKtorsrrrustees.
A fvll account of Rural Action's achlevements durlng the year are Ilsted below.
Strategic Aim 1: To Champlon the needs of rural communltles through consultation and
communtty development projects
Objective 1: Respond, engage and support relevant policy and programm8 consultations,
stakeholder meetings/ev8nls and èvaluation work to champion rural n88ds
Objectiv8 2.. Work in partnership with local and central government and the community voluntary
sector lo make recommendations for future rural service delivery
Objective 3: Carry out research and 8vid8nce rural needs
Objective 4: Pilot and test rural projects to inform future delivery
Outputs
21 meetlngslevents and engagements attended
1 strateglc cross border pilot project implementing in partnership with Irish Rural Llnk
1 joint cross border rural communlty needs suNey to 100 communlty-based organisatlons (60 In
Northern Ireland 50 in Ireland)
1 Rural Needs Focus Group established - 3 sesslons held
4 pipeline projects developed
3 evaluations completed
Strataglc Alm 2: To design, deliver, implement and inspire practical community-based projects
and actlons to allevlato poverly, ensure •conomic vibrancy and promote haalth & soclal
w611-b6ing
Objedive 1: Design, dellvery and implement projects that benefit people and places
Objectlve 2.. To maintain Rural Action as an Open College Network (OCN) Accredited Centre for
the delivery of training to communities
Objective 3: To establish the Rural Actlon Awards scheme to support and inspire rural community
action
Outputs
Managing agent for the International Fund for Ireland (IFI) Personal Youth Devalopment
Programme IPYDP} In Northem Ireland supporting communities to help at risk young people to build
and develop lrfe skills that foster good relations. build confidence and resilience and make them more
employable
0 7 applications assessed and recommendation reports completed
0 36 projects approved and implementing
O Letters of Offer issued totalling £6.14million
0 825 young people engaging
Managing agent for the IFI Communities in Partnership Programme (CIPP) in Northern Ireland
supporting communities to foster good r81ations and support communty initiatives on a cross border
basis
0 7 applications assessed and recommendation reports completed
0 15 projects approved and implementing
0 37 cross border organisations participating
O Letters of Offer issued totalling £1.9million

Rural Action
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Directorfs Report) {￿n(Inued)
Year ended 31 March 2024
0 1 n8w pilot programme Transforming Local Leadership implemèntlng and 8ngaging 9 groups
and 53 participanls
Partner wlth Mld Ulster District Council in the delivery of the Connecting Pomeroy proj8Ct to
develop community capacity and engagement activities to support social well-béing, inclusion and
village regeneration
0 40 groups engaging In community capacty and engagement actlvities
0 1.640 p80ple participating in programmes
0 3 Project Steering Group meetings attended
Maintain Rural Aclion as OCN Centre for delivering training to coMmUn￿leS - annual extemal
verification conducted August 2023
Continuation of the Rural Action Award5 scheme to support and Inspir8 rural community actlon
0 282 applications received from rural Northern Ireland and the border region
0 12 awards presented to community-based organlsations
7 recipient groups based in Northern Ireland £7,000)
5 recipient groups based in border region (é5,000)
Rural Action Awards Scheme
During th8 financial year the Board agreed to continue to Implement the Rural Action Awards scheme
(Strategic Aim 2 Objective 31. The schgme is designed to support volunteer led communlty action
projects. It is open to constituted rural community-based organisations undertaking projects that
a118viat8 poverty, ensure economic vibrancy, and promota health & social wellbeing locally. A total of
12 awards were made during the period to the value of £11,898.
Strateglc Aiffl 3: To encourage and promote social and economlc dovolopment and
entrepreneurshlp to rellave those in need by reason of youth, age, ill-health, disablllty, flnancial
hardship or other dlsadvantago
Objective 1: Inspire communitles through the exchange of information, sharing of stories and
practice
Obj8Ctlve 2.. To develop a rural centre of excellence demonstratlng soclal entrepreneurship in
action
Outputs
2 study visits completed in partnership with Irlsh Rural Link
Exchange of information on a joint Environmental programme
Identificallon of Shared IssueslThemes on a cross-border basis (Energy & Climate, Communlty
DevelopmentlRural Regeneration, Social Enterprlse and cross-border Collaborallon)
Increas8 in Social media trafflc lup by 45 % on previous yearl
Increase in webslte users (up by 370/0 on previous year)
Ongoing discussion5 wlth DAERAJCAFRE on the redevelopment of Lindesay Hall as a centre for
rural excellence and to furth8r promote social entrepreneurship In rural areas
Strateglc Alm 4: To make our communltles Inclusive and attractlve places to live by assisting
and engaglng communities to develop an interest in local culture, history, arts and traditions
and through the promotion of equality and diverslty
Objective 1.. Promote good relations and support actions for inclusion and effective Community
engagement
Objective 2: Engage in projects and programmes that encourage a better understanding of local
identity, culture and heritage

Rural Action
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) {contlnued)
Year ended 31 March 2024
Outputs
30 communily-based organisations participating in good relatlons tralning and awar8n8SS
workshopslevents
Strategic Alm 5: Good Governance and Corporate Management
Objective 1: To deliver on budget
Objective 2: Corporate Govemance, Board and Organisational Development Outputs
Financlal Management
O Annual budget agreed wlth Board
O Monthly management reports and cashflow statements produced for Board
O Annual account5 presented at AGM
O Satisfactory assurance in External audit reports
O Implementation of financial procedures & procurement guldance
O Budget profiles & expenditure reports prepared for funders
O Submission of clalms to fund8rs wlthin agreed deadlines
O Review & update of financlal procedures & policy
O Review of Corporation Tax & VAT posltlon
Strategy
O Op8rational plan agreed and monitored by Board
Human Resources
O Review and update policies and procedures
O Board Induction
O Staff handbook compiled
O Board Skills Audit compleled
O Carry out recruitment exercises as required

Rural Action
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2024
FinanGlal review
Rural Action re￿iVeS support from the International Fund for Ireland as their Managing Agent for the
Personal Youth Development Programme (PYDP) and the Communities in Partnership Programme
(CIPP): the Department of Agriculture, Environment and Rural Affairs (DAERA) Tackling Rural Poverty
and So¢lal Inclusion (TRPSI) Programme, Mid Ulster District Council Connecting Pom8roy Project,
with funding provided by the Eu's PEACE IV Programme, managed by the Speclal EU Programmes
Body (SEUPB}, Department of of Forelgn Affairs (DFA) Shared Island Fund and Department for
Communities {DfC) Villag8 Catalyst.
Reserves
The total funds held by the charity at 31st March 2024 is £322,115, of which £84,793 is restricted and
not available for the general purposes of the charity. A designation of £12,000 has been set aside for
the Rural Action Awards. These awards arè dèsigned to support volunteer led community action
projects that alleviate poverty, 8nsure economic vibrancy, and promotè h8alth & social well-being
locally. The organlsation currently operates out of the Admlnistration Building of the CAFRE Loughry
Estate. A major redevelopment of the estate is planned within the next 12-15 months, with the
Administration Building due to be demolished. A designation of £50,000 has been set aside to pursue
alternalive accommodallon over the next 2 years.
The Trustees have 6xamlned the charty's requirements for reserves conslderlng th8 main risks to the
organisation. They have established a policy whereby the unr8strict8d funds not designated for
particular purpose or invested in tangible assets held by the charlty should be equal to th8 value of six
months expenditure based on senior management salaries, overheads and accrued statutory
redundancy liabillty. Th8 trustees consider that this level will provide sufficient funds to respond to
applications for grants and ensure that there are sufflcient fund5 available to cover support and
govemance costs. The balance held a5 free reserves at 3110312024 was £173,524 against an actual
6 months expenditure of £146,624. The current level of reserves is therefore higher. The
organisatlon Is entering a new perlod of programme development and regards thls as prudant.
Trustaes. responsibilitles statement
The trustees, who are also directors for the purpos8s of company law, are responsible for preparing
the trustees, report and the financial statement5 in accordance with applicable law and United
Klngdom Accountlng Standards {Unlted Kingdom Genarally Accepted Accounting Practice).
Company law requires the charity trustees to prepa￿ financial statements for each year which glve a
true and fair view of the state of affalrs of the charitable company and the incoming resources and
application of resources, including the income and expenditure. for that period.

Rural Action
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (c(￿11￿Ued}
Year ended 31 March 2024
In preparing these flnanclal ststements. the trustees are required to:
S8lect suitab18 accounting policies and then apply them consistently;
observe the methods and principles in the applicable Charities SORP;
make judgm8nts and accounting estimates that are ￿aSOnable and prudent;
state whether appllcable UK Accountlng Standards have been followed, subject to any materlal
departures disclosed and explained in the financial statements;
prepare the financial statemènt5 on the golng concern basls unless It Is Inappropriate to presume
that the charity will continue in business.
The trustees are r8sponslble for keeplng adequate accounting records that are sufficient to show and
explaln the charity's transactions and disclose with reasonabl8 accuracy at any time th8 financial
position of the charity and enable them to ensure that the financlal statements comply with the
Companies Act 2006. They are also responsible for safeguarding th8 assets of th8 charity and henc8
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Audltor
Each of the persons who is a trust88 at the data of approval of this report confim)s that:
so far as they are aware, there is no relevant audit infomiation of which the charity's auditor Is
unawar8; and
they have taken all steps that they ought to have taken as a trustee to make themselves aware of
any relevant audit information and to establish that the charity's audltor Is aware of that
informatlon.
The trustees. annual report and the strategic report were approved on 5 December 2024 and signed
on behalf of the board of trustees by:
T McNally
Trustee
K Addis
Trustee

Rural Action
Company Limited by Guarantee
Independent Auditor's Report to the Members of Rural Action
Year ended 31 March 2024
Opinlon
We have auditgd the financlal statements of Rural Actlon (the 'charity'l for the year end8d
31 March 2024 whlch comprise the 5taternenl of finandal activities (including income and expenditure
account), statemenl of financial positlon, stalement of cash flows and the related notes, including a
summary of significant accounting policies. The financial reporting framework that has been applied in
thelr prèparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The
Financial Reporting Standard applicable In the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounling Practic8).
In our opinion the financial statements:
give a true and falr view of the state of the charlty's affairs as at 31 March 2024 and of its
incoming resourcas and application of resources. including its income and expenditure, for the
year then end8d',
hav8 been properly prepared In accordance wlth Unlted Kingdom Generally Accepted
Accountlng PractiGe',
have been prepared In accordance wlth the requirements of th8 Companies Act 2006,
Bas18 for opinion
We conducted our audit In accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our r8sponsibiliti8s under those standards are further described in th8 auditor's
responsibilities for th8 audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requlremènts that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufflcient and appropriate to provide a basis for our opinion.
Conclusions r•lating to golng concern
In auditing the financial statements, we have conclud8d that the trustees, use of the golng ¢on¢em
basls of accounting in the preparation of the financial statement5 15 appropriate.
Based on the work we have perfomied, we have not identlfied any material uncertaintles relating to
events or conditions that, individually or collectively, may cast signiflcant doubt on the charity's ability
to continue as a going concern for a period of at least ￿e1ve months from when the financial
statements are authodsed for issu8.
Our responsibilities and th8 r8sponsibiliti8s of the trustees with respect to going conc&rn ar8 d8scribed
in th8 relevant sections of this report.

Rural Action
Company Limited by Guarantee
Independent Auditor's Report to the Members of Rural Action (continued)
Year ended 31 March 2024
Other information
The other information comprises the information included in the annual report, other than th8 financial
statements and our auditols report thereon. The twstees are responsible for the other information.
Our opinion on the flnancial siatements does not cover the other Information and. ex￿p1 to the extent
otherwise explicitly slated in our report, we do not express any form of assurance conclusion thereon.
In connectlon with our audit of the financial statements, our responsibillty Is to read the Other
information and, in doing so, consider whether the other infomiation is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If we identify such material in¢onsisten¢ies or apparent material misstatements. we are
required to detemiine whether there is a material misslalement in the financial statements or a
material misstatement of the other information. If. based on the work we have performed, we conclude
that thère Is a matérial mlsstat8m8nt of this other Information, we arè requlrèd to report that fact.
We have nothing to report in this regard.
Oplnlon8 on oth¢r matters pre8crfbed by the Companles Act 2006
In our opinion. based on the work undertaken In the course ofthe audlt:
the Informatlon glven In the trustees, report for th8 financlal year for whlch the financlal
statements are prepared is consistent with the financial stalements- and
the trustees, report has b88n prepared in accordance With applicable18gal r8quir8m8nts.
Mattern on which we are requlrad to report by exceptlon
In the Ilght of the knowledge and understandlng of the charity and its 8nvironm8nt obtalned in the
course of the audit, we have not identified materlal misstatements in the trustees, report.
We have nothing to report in respect of the following matters in relalion to which th8 Companies Act
2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or retums adequate for our audtt have not
been received from branches not visited by us; or
the financial statements are not in agreement with the accounting ￿CordS and return5. or
certaln disclosures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanalions we require for our audit.
10

Rural Action
Company Limited by Guarantee
Independent Auditor's Report to the Members of Rural Action (conlinued)
Year ended 31 March 2024
Responslbllltles of trustaa8
As explalned more fully in Ihe Iwst8es' responsibilities statement, the trustees (who are also the
directors for the purposes of Company law) are responsibl8 for th8 pr8paration of the financial
statement5 and for being satisfied that they glve a true and fair vi8w, and for such internal control as
the trustees d8t8rmin8 is n8cessary to enable the preparation of financial statements that are free
from materlal misstatement, whether due to fraud or error.
In preparlng th8 financial statements. the trustees are responsible for assessing th8 charty's ability to
continue as a going concern, disclosing, as appll¢able, matters r8lat8d to going concern and using the
going concem basis of accounting unl8SS the trust88S either intend to liquidate the chatity or to cease
oparations, or have no realistic altemative but to do so.
11

Rural Action
Company Limited by Guarantee
Independent Auditorfs Report to the Members of Rural Action (contlnuedl
Year ended 31 March 2024
Auditor's responsibilities for tho audit of tho financial statements
Our objectives are to obtain reasonable assurance about whether the financial ststements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that
includes our opinlon. Reasonable assurance is a hlgh level of assurance, but is not a guarantee that
an audit ¢ondu¢ted in accordance with ISAS (UK) will always det8cI a mat8rial misstat8m8nt when It
exists. Misstatements can arise from fraud or error and ar8 considered material if, individually or in th8
aggregate, they could reasonably be expected to influence the economlc decisions of users taken on
the basis of these financlal statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulatlons. We deslgn
procedures in line wlth our résponsibilities, outllned abovè, to d8t8Ct mat8rial misstat&m8nts in respect
of irregularities, including fraud. Th8 extent to which our procedures are Gapable of detecting
irregularities. including fraud is detailed below:
In Identlfylng and assesslng rlsks of malerfal mlsstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, we considered th& fo15owing'.
.the nature of the Industry and sector, control envlronment and business perfomianc8 including the
deslgn of the r8muneration policies, key drivers for directors, remuneration. bonus levels and
performance targels.
results of our enqulrles of management about their own identification and assessment of the risks
of irregularities;
any matters we Identified having obtained and reviewed documentation of their policles and
proc8dures relating to:
identifying, evaluating and complying wlth laws and regulations and whether
manag8m8nt wer8 aware of any instances of non-compliance.,
detecting and responding to the risks of fraud and whether management have knowledge
of any actual, suspected or alleged fraud;
the Internal controls established to mltigate rlsks of fraud or non-compliance wlth laws
and regulatlons.
the matters discussed among the audit engagement team including significant component audit
teams and relevant internal specialists, including tax and valuations specialists regarding how and
where fraud might occur in the financial statements and any potential indicators of fraud.
As a r8suIt of these procedures, we considered the opportunities and In￿ntIveS that may exlst within
the organlsation for fraud and Identified the greatest potential for fraud. In common with all audits
under ISAS IUKI, we ara also required to perform specific proc8dur8S to respond to the risk of
management Override.
We also obtained an understanding of the legal and regulatory frameworks in operatlon, focusing on
provisions of those laws and regulations that had a direct effect on the determination of material
amounts and disclosures in the financial statements. The key laws and regulations we considered in
this context included ongoing compliance with the UK Companies Act and tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on
the financial statements but compliance with which may be fundamental for their ability to operate or to
avoid a material penalty.
12

Rural Action
Company Limited by Guarantee
Independent Auditor's Report to the Members of Rural Action (¢onflnuod)
Year ended 31 March 2024
As part of an audit In accordance with ISAS (UK), we exercise professional judgment and maintain
professional scepticism throughout the audit. We also:
Identify and assess thè risks of material misstatement of th8 financial statements, whether due to
fraud or èrror, design and perform audlt procedures responsive to those risks, and obtain audit
evidence that is sufflcl8nt and appropriate lo provide a basls for our opinion. The risk of not
detecting a matarial misstatemenl resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion. forgéry, intèntional omlssions, misrepresentatlons, or the override
of internal control.
Obtaln an understanding of internal Control relevant to the audit in order to design audlt
procedures that are appropr18te in the circumstances, but not for the purpose of expr8ssing an
opinion on the effectiveness of the int8mal control.
Evaluate th8 appropriateness of accountlng pollcies used and the reasonableness of accounting
estimates and related dis¢losur8s made by the trustees.
Conclude on th8 appropriateness of Ihe trustees, use of th8 going concern basis of a¢¢ounling
and, based on the audit evidence obtained, whether a material uncertainty 8XlSts related to
event5 or conditions that may cast significant doubt on the Charlty's ability to contlnue as a going
Concern. If w8 conclude that a material uncertainty exists, we are required to draw attention in
our auditorfs report to the related disclosures in the financial statements or, If such disclosures
are inadequat8, to modify our opinion. Our ¢onclusions are based on the audit evldence obtained
up to the date of our auditor's report. How8V8r, future events or conditions may cause the charlty
to cease to ¢ontinu8 as a going concern.
Evaluate the overall p￿sentatIon, structure and content of the financial statem8nts. including the
dlsclosures, and whether th8 financlal statemenis represent the underlying transactions and
events in a manner that achieves fair presentation.
We communicat8 Wlth those charged with govemance regarding, arnong other matters, th& planned
scope and tirnlng of the audlt and significant audlt findings, includlng any significant d8ficiencies in
internal control that W8 identify during our audit.
13

Rural Action
Company Llmited by Guarantee
Independent Auditor's Report to the Members of Rural Action (eofttlnued)
Year ended 31 March 2024
As explained more fully in the Truslees, Responsibilities Statement (set out on page 7), the truste8S
are responsible for the preparation of the financial statements and for being satisfied that they give a
true and fair view. Our responsibility is to audit and exprèss an opinlon on the financial statements In
accordance with applicable law and International Standards on Auditing (UK). Those standards
require us to comply with the Financial Reporting Council's (FRC'S) Ethical Standard for Audltors,, in in
thè clrcumstsnces set out In note 24 to the financial statements.
Use of our rèport
This report 19 made solely to the charity's members, as a body, In accordance wlth Chapter 3 of Part
16 of the Companles Act 2006. Our audit work has be8n undertaken so that we might state to the
charity's members those matters we are requlred to slate to them in an auditorfs report and for no
other purpose. To the fullest extent P8miitted by law, we do not accept or assume responslbility to
anyone other than the charity and the charity's members as a body, for our audlt Work. for this report,
or for the opinions we have fomi8d.
Conor Dolan FCA (Senior Statutory Audltor)
For and on behalf of
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tow8r
9 James Street South
Belfast
BT2 8DN
5 December 2024
14

Rural Action
Company Limited by Guarantee
Statement of Flnancial Activities
(including income and expenditure account)
Year ended 31 March 2024
2024
Restricted
funds Total funds Total funds
2023
Unr8Stricted
funds
Note
Income and endowments
Donations and legacies
Charitable activltles
19,500
10,925
19,500
463,453
29.720
867.830
452,528
452,528
Total Income
30.425
482,953
897,550
Expendlture
Expenditure on charitable activities
Total oxpendlture
115,566
429,969
545,535
572,838
572,838
115,566
429,969
545,535
Net {expendltur•)lincom•
(85.141)
22,559
{82,582)
324,712
Transf8rs between funds
(700)
700
Net movemont In funds
(85,8411
23,259
(62,582)
324,712
Reconciliatlon of funds
Total funds brought forward
Total funds carrled forward
323,163
237,322
61,534
384,697
322,115
59,985
84,793
384,697
The statement of flnancial actlvltles Includ8s all galns and losses recognlsed In the year.
All income and 8xp8nditure derlve from continuing actlvltlas.
The notes on pagos 18 to 28 forni part of these f5nancial statements.
15

Rural Action
Company Limited by Guarantee
Statement of Financial Position
31 March 2024
2024
2023
Not•
Flxod assets
Tangible fixed assets
14
1.798
5.104
Current assets
Debtors
Cash at bank and in hand
15
110,872
240,869
95,086
301,658
351.741
396.744
Credltors: amounts falllng due wlthln one year
Nat current assets
16
31.424
17,151
320.317
379.593
Total a88•t$ 16ss current liabilitl•s
322,115
384,697
N•t ass•ts
322.115
384,697
Funds of the charity
Restricted funds
Unrestricted funds
84.793
237,322
61,534
323.163
Total charlty funds
19
322.115
384.697
These financlal stat8m8nts were approved by the board of trustees and authori5ed for issue on 5
December 2024, and are signed on behalf of the board by:
T M¢Nally
Trustee
K Addls
Truslee
Th• notes on pag￿ 18 to 28 fomi part of th958 financial 51atgments.
16

Rural Action
Company Limited by Guarantee
Statement of Cash Flows
Year ended 31 March 2024
2024
2023
Cash flows from oparatlng activitles
Net (8xp8nditure)lincome
(62,582)
324,712
Adjustm8nts ft)r.'
Depreciation of tangible fixed assets
Accrued expensesl{Income)
4,147
7,754
7.154
(3,108)
Changes in..
Trade and other debtors
Trade and other creditors
(15,786)
6,519
(3,064)
(145,987)
179,707
Cash generated from operations
(59,948)
Tax pald
Net cash (used inyfrom operatlng actlvitles
{2,146)
177,561
(59,948)
Cash flows from invosting actlvltles
Purchase of tanglble asset5
Net cash used in invesling actlvltles
(841)
(841)
(3,632)
{3,632)
Net (decrease)Ilncroa$o in cash and cash equlvalents
Cash and ca8h equlvalents at beginnbng of yoar
Cash and cash equlvalent8 at end of year
(60.789>
301,658
240,869
173,929
127,729
301,658
The notes on pages 18 to 28 form part of these financial stataments.
17

Rural Action
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2024
General Inforniatlon
The charity is a publ1¢ b8neflt èntity and a privat8 company limited by guarante8, registered in
Northern Ireland and a registered charty in Northern Ireland. The address of the reglstered office
is Administration Building, Loughry College. Cookstown, BT80 9AA, Tyrone.
Statement of complianc•
These financial statements have been prepared in compliance with FRS 102, The Financial
Reporting Standard applicable in the UK and the Republic of Ireland., the Statement of
Recommended Practice applicable to charities preparing their accounts In accordance with the
Financlal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} {Charitl8S
SORP (FRS 102)) and the Companies Act 2006.
Accountlng pollcle8
Basls of preparatlon
The financial stat8m8nts have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at falr
value through income or expenditure.
The financial slatements are pr8par8d in sterling, which is the functional currency of the entity.
Going concern
Ther8 are no mat8rial uncertaint18s about th8 charity's ability to continue.
Judgements and key sourcas of estlmatlon uncertainty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually revlewed and are based on experlence and oth8r factors, includlng expectations
of future events that are belleved to be reasonable under the circumstances.
Fund accountlng
Unrestrlcted funds are available for use at the discretion of the trustees to further any of the
charity's purposes.
Designated funds are unrestricted funds eamarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restridions on thelr expenditure declared by the donor or
through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or
endowment funds.
18

Rural Action
Company Limited by Guarantee
Notes to the Financial Statements (¢ontlnu
Year ended 31 March 2024
Accounting policies f¢onllnu¢d)
Incomlng resources
All incomlng resources are included In the statement of financial activities when entitlement has
passed to the charity,. it is probable that the economic benefits associated with the tTansaction
will flow to the charity and the amount can be r81iably measured. The following sp8clfic policies
are applied to particular categories of income:
incom8 from donations or grants is recognlsed when there is evidence of entitlement to the
gift, recelpt Is probable and its amount can b8 measured reliably.
legacy income is r8cognis8d when receipt is probable and entitl8m8nt is established.
Income from donated goods is measured at the falr value of the goods unless this is
impractical to measur8 r81iabty, in which case the value is derlvèd from th8 Cost to the donor
or th8 estimated resa58 value. Donated facilities and services are recognised In the
accounts when rec8lved if the value can b8 reliably measured. No amounts are Included for
the contribution of general volunteers.
income from conlracts for the supply of services Is recognlsed wlth the d811very of the
contracted service. This Is classified as unrestricted fvnd5 unless th8r8 is a contractual
requirement for it to be spent on a particular purpos8 and returned if unspent. In which case
it may be regarded a5 restricted.
Resources expended
Expenditure Is recognised on an accruals basis as a liability is incurred. Expendlture includes any
VAT which cannot be fully recovered. and is classified und8r headings of the statement of
financlal actlvitles to whlch it relates:
expenditure on ralslng funds Includes the costs of all fundralslng actlvities, events.
non*iarltab18 trading activities, and the sale of donated goods.
expendlture on charltable activities includes all costs Incurred by a charity in undertaking
activities that further its charitable aims for the benefit of its ben8ficiaries, including those
support costs and costs relatlng to the governance of the charity apportloned to charltable
activlties.
0th8r expenditure includes all expendilure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the r8sourc8. Direct costs
attributable to a single activity are allocated dlrectly to that a¢tlvity. Shared costs are apportioned
be￿a&n the activities they contribute to on a rèasonable, justifiable and consistent basls.
Tanglble assets
Tangible assets are initially recorded at cost, and subsequently statèd at cost less any
accumulated depreciation and impairment losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losse5.
19

Rural Action
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2024
Accounting policies (¢onllnu
Tangible assets (contlnued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognlsed galns and Ioss8s, unless It reverses a Charge for impairment that has previously been
recognised as expenditure within the statement of financial activitiés. A decr8as8 in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the loss is shown within
other recognised galns and losses on the statement of financial activities.
Depr•ciation
Depreciatlon is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows..
Equipment
33Yo straight Ilne
Impairment of fixod asset$
A revlew for Indicators of Impalment Is Carrled out at each reportlng date. wlth the recoverable
amount being estimated where such indicators 8XiSt. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at 8ach reporting dat8.
For the purposes of impairment testing, when it is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverabl8 amount of the
cash-generatlng unlt to which tha asset belongs. The cash-generating unit is the smallest
Identifiable group of assets that includ8S the assèt and generates ¢ash inflows that largely
Independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwlll acquired in a busin8ss combinatlon Is, from the
acquisition date, allocat8d to each of the cash-generating units that are expected to benefit from
the synergies of the combination, Irrespectlve of whether other assets or liabilities of the charity
are assignéd to those unlts.
Financial instruments
A flnan¢lal asset or a financlal Ilablllly Is recognlsed only when Ihe charity becomes a party to the
contractual provlslons of the Instrument.
Baslc financial instruments are Inltlally recognised at the amount receivable or payable Including
any related transaction costs.
Current assets and current liabilities are subsequ8ntly measured at tha cash or other
consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at arnortised cost.
20

Rural Action
Company Limited by Guarantee
Notes to the Financial Statements (¢ontlntsed)
Year ended 31 March 2024
Accounting policies (¢onfinuedJ
Flnancial instrumgnts (eonllnu
whe￿ investments in shares are publicly traded or their fair value can othetwise be measured
reliably. the investment is subsequently measured at fair value With changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
Other financial inslruments, Includlng derlvatlves. are Initially recognlsed at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is nol a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rale of interest for a similar debt instrument.
Other finan¢lal instruments are subsequently measured at fair value, wlth any changes
recognised in the statement of financial activitles, with the exception of hedging instruments in a
designated hedging relalionshlp.
Financlal assets that are measured at cost or amortised cost are revlewed for objecllve evldence
of impairment at the end of each reporting date. If there is objectlV8 evidence of impairment. an
Impairment loss is recognised under the appropriate heading in the statement of flnancial
activities in which the initial galn was recognlsed,
For all equity instruments regardless of slgnificance, and other financial asset5 that are
Individually significant, these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar credit rtsk char8cleristics.
Any reversals of Impairment are recognlsfyd immedlately. to the extent that the reversal do&s not
result in a Carrying amount of the financial ass&1 that exceeds what the carrying amount would
have been had the Impairment not previously been recognised.
Deflned contribution plans
Conlrlbutions to defined contribution plans are recognised as an expense in the period In which
the related service is provided. Prepai¢J contributions are recognised as an asset lo the extent
that the prepayment will lead to a reductlon in future payments or a cash refund.
When contributions are not expe¢ted to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on
discounted present value basis. The unwinding of the discount Is recognised as an expense in
the period In which It arises.
Llmited by guarantee
Each of the members of the company has guaranteed to contribute to the assets of the company
in the event of the same being Wound up to the extent of £1.
21

Rural Action
Company Limlted by Guarantee
Notes to the Financial Statements (conlinuad)
Year ended 31 March 2024
Donatlons and legacias
Unrestrided Total Funds Unrestrlcted Total Funds
Funds
2024
Funds
2023
Donationg
Donations
19,500
19,500
2g,720
29,720
Charitablo aGtlvltleg
Unrestricted
Funds
Restricted Total Funds
Funds
2024
340,920
80,236
340,920
80,236
IFI
MUDC EU PIV Connectlng Pomeroy
AHF
Department of Foreign Affairs: Shared Island Civlc
Socieiy Fund
Miscellaneous income
DAERA- Halls tralning
31,372
31,372
10.925
10,925
10,925
452,528
463,453
Unrestrlcted
Funds
Restrfcted Total Funds
Funds
2023
344,860
89,703
7,385
344,860
89,703
7,385
IFI
MUDC EU PIV Connecting Pomeroy
AHF
Department of Foreign Affairs.. Shared Island Civlc
Society Fund
Miscellaneous Income
DAERA_ Halls training
20,380
405,502
425,882
20,380
405,502
867,830
441,948

Rural Action
Company Limited by Guarantee
Notes to the Financial Statements (¢ontlnuedJ
Year ended 31 March 2024
Expenditure on charitable actlvitles by fund type
Unrestricted
Funds
Restrlcted Total Funds
Funds
2024
Rural development
Support costs
86,644
28,922
115,566
398,119
31.850
429.989
484,763
60.772
545,535
Unreslrlcted
Funds
Rural development
Support costs
Restricted Total Funds
Funds
2023
172,118
27.365
199,483
342,648
30,707
373,355
514,766
58,072
572,838
Exponditur• on charltable acllvltles by actlvlty type
Actlvlties
undertaken
directly Support costs
484,783
55,817
4.955
60,772
Total funds
2024
Total fund
2023
Rural development
Governance costs
540,580
4,955
545,535
567.247
5,591
484,763
Analysls of Support costs
572.838
Analysis of
support costs Total 2024 Total 2023
51.982
2,935
51,982
50,006
4,955
2,935
4,955
2,475
5,591
59,872
59,872
58,072
Staff costs
Finance costs
Governance costs
10. Net {expenditure)Ilncome
Net (expenditureyincome is stated after charging/(crediting):
Depreciation of tangible fixed assets
2024
2023
4,147
7.154
23

Rural Action
Company Limited by Guarantee
Notes to the Financial Statements (¢ontlnued)
Year ended 31 March 2024
11. Auditors remuneratlon
2024
2023
4.668
5,335
Faes payable for the audit of the financial statements
12. Staff costs
2024
2023
The total staff costs and 8mploye8 benefits for the reporting period are analysed as follows:
377,256
37,786
9,402
424,444
378.561
33,151
8,364
420,076
Wages and salaries
Social security costs
Employer contributions to penslon plans
The average head count of employees durlng the year was 12 (2023: 11).
2024
2023
The number of employees whose remuneratlon for the year fell wlthln the following bands, were:
£60,000 to £69,999
£70,000 to £79,999
Kay Managemont Pernonnol
Key management personnel include all persons that have authority and responsibility for
plannlng, directing and controlllng the activities of the charlty. The total compensalion paid to k8y
management personnel for services provided to the charity was £197,115 (2023..£202,025).
13. Trust•e rnmun•ratlon and expenses
The trustees of the charity were not pald and dld not raceive any other benefits from employment
with the Charity in the year (2023: Nil). The trustees were not reimbursed for any expenses
Incurred during the year (2023:NII),

Rural Action
Company Limited by Guarantee
Notes to the Flnanclal Statements {contlnu•dJ
Year ended 31 March 2024
1Q Tangible fixed assets
Equipment
At 1 April 2023
Additlons
21,679
At 31 March 2024
22,520
Dopreciation
At 1 April 2023
Charge for the year
At 31 March 2024
16,575
4,147
20,722
Carrying amount
At 31 March 2024
1,798
At 31 March 2023
5,104
15. D•btors
2024
2023
Trade debtors
Prepayments and accrued Incom8
108,383
2,489
92.101
2,985
110,872
95.086
16. Cradltor8: amounts falling due within ono year
2024
2023
Trade credltors
Accruals and deferred income
13,338
18,086
6.819
10,332
31.424
17,151
17. Deferred Income
2024
2023
At 1 Aprll 2023
Amount released to income
128,586
(128.586)
At 31 March 2024
25

Rural Action
Company Limited by Guarantee
Notes to the Financlal Statements (eontlnuéd)
Year ended 31 March 2024
18. Penslons and other post retlrement banefits
Deflned contrlbution plans
The amount recognised In Income or expenditure as an expense In relation to defined
contribution plans was £8,364 (2023: £9,402).
19. Analysls of charitablo fund8
Unrestrictod funds
At
1 April 2023
At31
Transfers March 2024
Income Expenditur8
General funds
Rural Actlon Awards
Alternative
accommodatlon fund
261,163
12,000
30,425
(115,566>
(700)
175.322
12,000
50,000
50,000
323,163
30,425
(115,566)
(700)
237,322
At
1 Aprll 2022
At31
Transfers March 2023
Income Expenditure
General fijnds
Rural Actlon Awards
Alternative
accommodatlon fund
66.544
455,602
(199,483)
(61,500)
12.000
261,163
12.000
50,000
50.000
66,544
455,602
(199,483)
600
323.163
A designation of £12.000 has been set aside for the Rural Actlon Awards, whSch wlll be spent in
the next 12 months. These awards are deslgned to support volunt88r led community actlon
projects that allevlate poverty, ensura economlc vibrancy, and promote health & soclal well-belng
locally.
The organlsatlon currently operates out of the Admlnistration Building of the CAFRE Loughry
Estate. A major redevelopment of the estate Is planned wlthin the n8Xt 12-15 months. wlth Ihe
Administration Building due to be demolished. A designation of £50,000 has been set aside to
pursue altemative accommodation over the next 2 years.
26

Rural Action
Company Limited by Guarantee
Notes to the Financial Ststements (condnued)
Year ended 31 March 2024
19. Analysls of charitable funds (contlnuedj
Restricted funds
At
1 April 2023
At31
Transfers March 2024
IFI PYDP
IFI CIPP
MUDC EU PIV
Connecting Pomeroy
AHF
Department of Foreign
Affalrs.. Shared Island
Civic Society Fund
Income Expenditure
244,039
96,881
(243,188)
(96,881)
63,945
(841)
63,955
(2,411)
80,238
(79.366)
1,541
31,372
452,528
(10.534)
(429,969)
61,534
20,838
84,793
700
At
1 April 2022
IFI PYDP
IFI CIPP
MUDC EU PIV
Connectlng Pomeroy
AHF
Department of Foreign
Affalrs.. Shared Island
Clvic Society Fund
Income Expendlture
306,172
38,688
(240,442)
(36,844)
At31
Transfers March 2023
{1,785)
(1,844)
63,945
(6,559)
89,703
7.385
(88,239)
(7,830)
2,684
445
(2,411)
(6,559)
441,948
(373,355)
(500)
Department of Foreign Affalrs
Rural Action received £31,372 {E37,385) during the 23124 flnancial year for the Synergy.. Rural
Collaboration Project from the Department of Forelgn Affairs: Shared Island Civic Society Fund.
Transfers between funds
Transfers out of r&slricled funds relate to the purchase of fixed assets with restricted fundlng, on
which there is no longer a restriction. Transfers into restricted funds from unrestricted funds are
to meet overspends In projècts which cannot be reclaimed from funders.
61,534

Rural Action
Company Limited by Guarantee
Notes to the Financlal Statements (conllnued)
Year ended 31 March 2024
20. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2024
1,798
268,518
(30,994)
237,322
1,798
351,741
(31,424)
322,115
Tangible fixed assets
Current assets
Creditors18ss than 1 year
Not assets
85,223
(430)
84.793
Unrestrided
Funds
Restricted Totsl Funds
Funds
2023
5,104
330,836
(12.777)
5,104
396,744
(17,151)
Tangible flxed assets
Current ass8ts
Creditors less than 1 year
Creditors greater than 1 year
Not assets
65,908
(4,374)
323,163
61,534
384,697
21. Taxatlon
The Company is a reglstered charity. and as such is entitled to tax exemptlons on income and
profits In furtherance of the charity's primary objectives.
22. Analysls of changes in net debt
At
At 1 Apr 2023 Cash flows 31 Mar 2024
(60,789)
240.869
301,658
Cash at bank and in hand
23. Contlngenclos
A Contingent Ilability exists to repay grants and Trust monies received should cartain condltions
not be fulfilled by the charity. In the opinion of the Trustees, the t8rms of the Letters of Offers
have been. or will be, complied wlth and no Ilabillty Is expected.
24. Ethical standards
In common with many other buslnesses of our size and nature we use our auditors to prepare
and submit returns to the tax authoritles and assist with the pr8paratlon of the financial
statements.
28