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← Rural Action Ltd

2025-03-31-accounts

COMPANY REGISTRATION NUMBER: NI659778 CHARITY REGISTRATION NUMBER: 108163

Rural Action

Company Limited by Guarantee

Financial Statements

31 March 2025

Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN

Rural Action

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2025

Page
Trustees' annual report (incorporating the director's report) 1
Independent auditor's report to the members 9
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 following pages do not form part of the financial statements
Detailed statement of financial activities 30
Notes to the detailed statement of financial activities 32

Rural Action

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2025

The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2025.

Reference and administrative details

Registered charity name Rural Action
Charity registration number 108163
Company registration number NI659778
Principal office and registered Administration Building
office Loughry College
Cookstown
BT80 9AA
Tyrone
The trustees
T McNally
A McAdam
S Henry
Dr M Farrell
K Addis
J Gray (Appointed 1 May 2025)
J Healy (Appointed 1 May 2025)
AM McAleese (Appointed 1 May 2025)
L McLaughlin-Borlace (Appointed 1 May 2025)
R Megahey (Appointed 1 May 2025)
Auditor Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN
Bankers Ulster Bank Ltd
11-16 Donegall Square East
Belfast
BT1 5UB

1

Rural Action

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2025

Structure, governance and management

Rural Action was established in 2019 with the objective of inspiring action and to make positive contribution to the everyday lives of rural people. The organisation is a charitable company limited by guarantee incorporated on 14 March 2019 and is registered as a charity (NIC108163). The Company was established under a Memorandum of Association and is governed under its Articles of Association.

Directors and Trustees

The Directors of the charitable company (the Charity) are its 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 interests/experience including those involved in the business community, community/voluntary sector, education and training.

Trustees Induction and Training

Induction and Training is provided to Trustees when they join the Board. A skills audit has been completed this year to identify any potential gaps which will be addressed through training or future recruitment drives. This will support the Board in carrying out their duties.

Risk Management

The Rural Action Board has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is presented at each Board meeting. It is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces.

Organisational Structure

The current staffing structure of Rural Action includes the following roles: Chief Executive Officer Head of Finance & Governance

Head of Programmes Head of Regeneration & Communities Programme Officers x 2 Programme Support Officers x 2 Finance Administrators x 2 Administrator

2

Rural Action

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2025

Objectives and activities

Rural Action's vision is of a living, working, sustainable and shared community. It's mission is to inspire action and to make a positive contribution to the everyday lives of rural people.

It aims to do this by:

 Championing the needs of rural communities through consultation and community development projects

 Designing, delivering and inspiring practical community-based projects and actions to alleviate poverty, ensure economic vibrancy and promote health & social wellbeing

 Encouraging and promoting social and economic development and entrepreneurship to relieve those in need by reason of youth, age, ill health, disability, financial hardship or other disadvantage

 Making our communities inclusive and attractive places to live by assisting and engaging communities to develop an interest in local culture, history, arts and traditions and through the promotion of equality and diversity

The achievements listed below detail Rural Action's performance for 2024-2025 in advancing its said objectives.

Public Benefit Statement

The trustees have regard to the Charity Commission's guidance on public benefit.

Strategic report

The following sections for achievements and performance and financial review form the strategic report of the charity.

3

Rural Action

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2025

Achievements and performance

Rural Action is a registered charity and a company limited by guarantee. It operates across Northern 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 Directors/Trustees.

A full account of Rural Action's achievements during the year are listed below.

Strategic Aim 1: To Champion the needs of rural communities through consultation and community development projects

Outputs

Strategic Aim 2: To design, deliver, implement and inspire practical community-based projects and actions to alleviate poverty, ensure economic vibrancy and promote health & social well-being

Outputs

 Managing agent for the International Fund for Ireland (IFI) Personal Youth Development Programme (PYDP) in Northern Ireland supporting communities to help at risk young people to build and develop life skills that foster good relations, build confidence and resilience and make them more employable

 Managing agent for the IFI Communities in Partnership Programme (CIPP) in Northern Ireland supporting communities to foster good relations and support community initiatives on a cross border basis

4

Rural Action

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2025

Rural Action Awards Scheme

During the financial year the Board agreed to continue to implement the Rural Action Awards scheme (Strategic Aim 2 Objective 3). The scheme is designed to support volunteer led community action projects. It is open to constituted rural community-based organisations undertaking projects that alleviate poverty, ensure economic vibrancy, and promote health & social wellbeing locally. A total of 12 awards were made during the period to the value of £11,389.

Strategic Aim 3: To encourage and promote social and economic development and entrepreneurship to relieve those in need by reason of youth, age, ill-health, disability, financial hardship or other disadvantage

 Objective 1: Inspire communities through the exchange of information, sharing of stories and practice

 Objective 2: To develop a rural centre of excellence demonstrating social entrepreneurship in action

Outputs

Strategic Aim 4: To make our communities inclusive and attractive places to live by assisting and engaging communities to develop an interest in local culture, history, arts and traditions and through the promotion of equality and diversity

 Objective 2: Engage in projects and programmes that encourage a better understanding of local identity, culture and heritage

Outputs

 66 community-based organisations participating in good relations training and awareness workshops/events as part of IFI funded projects

5

Rural Action

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2025

Strategic Aim 5: Good Governance and Corporate Management

Outputs

6

Rural Action

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2025

Financial review

For the financial year 2024-2025, Rural Action received funding from: -

 The International Fund for Ireland (IFI) as the Northern Ireland Managing Agent for the IFI Personal Youth Development Programme (PYDP) and the IFI Communities in Partnership Programme (CiPP);

 The Special EU Programmes Body (SEUPB) as partner in the PEACEPLUS Change Maker Funding Programme; and

Reserves

The total funds held by the charity at 31st March 2025 is £337,327, of which £69,956 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 are designed to support volunteer led community action projects that alleviate poverty, ensure economic vibrancy, and promote health & social well-being locally. The organisation currently operates out of the Administration 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 alternative accommodation over the next 2 years.

The Trustees have examined the charity's requirements for reserves considering the main risks to the organisation. They have established a policy whereby the unrestricted funds not designated for a particular purpose or invested in tangible assets held by the charity should be equal to the value of six months expenditure based on senior management salaries, overheads and accrued statutory redundancy liability. The trustees consider that this level will provide sufficient funds to respond to applications for grants and ensure that there are sufficient funds available to cover support and governance costs. The balance held as free reserves at 31 March 2025 was £195,029 against an actual 6 month expenditure of £162,246. The current level of reserves is therefore higher. The organisation is entering a new period of programme delivery and regards this as prudent.

Trustees' responsibilities statement

The trustees, who are also directors for the purposes of company law, are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.

7

Rural Action

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2025

In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Auditor

Each of the persons who is a trustee at the date of approval of this report confirms that:

The trustees' annual report and the strategic report were approved on 22 September 2025 and signed on behalf of the board of trustees by:

T McNally Trustee

K Addis Trustee

8

Rural Action

Company Limited by Guarantee

Independent Auditor's Report to the Members of Rural Action

Year ended 31 March 2025

Opinion

We have audited the financial statements of Rural Action (the 'charity') for the year ended 31 March 2025 which comprise the statement of financial activities (including income and expenditure account), statement of financial position, statement of cash flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation 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 Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements 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 sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

9

Rural Action

Company Limited by Guarantee

Independent Auditor's Report to the Members of Rural Action (continued)

Year ended 31 March 2025

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information 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 inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

10

Rural Action

Company Limited by Guarantee

Independent Auditor's Report to the Members of Rural Action (continued)

Year ended 31 March 2025

Our responsibility is to audit and express an opinion 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 Auditors', in the circumstances set out in note 25 to the financial statements.

In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

11

Rural Action

Company Limited by Guarantee

Independent Auditor's Report to the Members of Rural Action (continued)

Year ended 31 March 2025

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks in operation, 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 (continued)

Year ended 31 March 2025

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

13

Rural Action

Company Limited by Guarantee

Independent Auditor's Report to the Members of Rural Action (continued)

Year ended 31 March 2025

As explained more fully in the Trustees' Responsibilities Statement (set out on page 7), the trustees 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 express an opinion 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 Auditors', in in the circumstances set out in note 25 to the financial statements.

Use of our report

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed.

Conor Dolan FCA (Senior Statutory Auditor)

For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN

22 September 2025

14

Rural Action

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2025

2025 2024
Unrestricted Restricted
funds funds Total funds Total funds
Note £ £ £ £
Income and endowments
Donations and legacies 5 19,500 – 19,500 19,500
Charitable activities 6 114,528 405,629 520,157 463,453
Investment income 7 2,811 – 2,811 –
───────── ───────── ───────── ─────────
Total income 136,839 405,629 542,468 482,953
═════════ ═════════ ═════════ ═════════
Expenditure
Expenditure on charitable activities 8,9 102,344 424,912 527,256 545,535
───────── ───────── ───────── ─────────
Total expenditure 102,344 424,912 527,256 545,535
═════════ ═════════ ═════════ ═════════
───────── ───────── ───────── ─────────
Net income/(expenditure) 34,495 (19,283) 15,212 (62,582)
═════════ ═════════ ═════════ ═════════
Transfers between funds (4,446) 4,446 – –
───────── ───────── ───────── ─────────
Net movement in funds 30,049 (14,837) 15,212 (62,582)
Reconciliation of funds
Total funds brought forward 237,322 84,793 322,115 384,697
───────── ───────── ───────── ─────────
Total funds carried forward 267,371 69,956 337,327 322,115
═════════ ═════════ ═════════ ═════════

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 18 to 28 form part of these financial statements.

15

Rural Action

Company Limited by Guarantee

Statement of Financial Position

31 March 2025

2025 2024
Note £ £
Fixed assets
Tangible fixed assets 15 10,342 1,798
Current assets
Debtors 16 129,040 110,872
Cash at bank and in hand 215,236 240,869
───────── ─────────
344,276 351,741
Creditors: amounts falling due within one year 17 17,291 31,424
───────── ─────────
Net current assets 326,985 320,317
───────── ─────────
Total assets less current liabilities 337,327 322,115
───────── ─────────
Net assets 337,327 322,115
═════════ ═════════
Funds of the charity
Restricted funds 69,956 84,793
Unrestricted funds 267,371 237,322
───────── ─────────
Total charity funds 19 337,327
═════════		 322,115
═════════

These financial statements were approved by the board of trustees and authorised for issue on 22 September 2025, and are signed on behalf of the board by:

T McNally Trustee

K Addis Trustee

The notes on pages 18 to 28 form part of these financial statements.

16

Rural Action

Company Limited by Guarantee

Statement of Cash Flows

Year ended 31 March 2025

2025 2024
£ £
Cash flows from operating activities
Net income/(expenditure) 15,212 (62,582)
Adjustments for:
Depreciation of tangible fixed assets 6,411 4,147
Other interest receivable and similar income (2,811) –
Accrued (income)/expenses (3,641) 7,754
Changes in:
Trade and other debtors (18,168) (15,786)
Trade and other creditors (10,492) 6,519
──────── ────────
Cash generated from operations (13,489) (59,948)
Interest received 2,811 –
──────── ────────
Net cash used in operating activities (10,678) (59,948)
════════ ════════
Cash flows from investing activities
Purchase of tangible assets (14,955) (841)
──────── ────────
Net cash used in investing activities (14,955) (841)
════════ ════════
Net decrease in cash and cash equivalents (25,633) (60,789)
Cash and cash equivalents at beginning of year 240,869 301,658
───────── ─────────
Cash and cash equivalents at end of year 215,236 240,869
═════════ ═════════

The notes on pages 18 to 28 form part of these financial statements.

17

Rural Action

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2025

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Administration Building, Loughry College, Cookstown, BT80 9AA, Tyrone.

2. Statement of compliance

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 Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation 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 reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their 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 (continued)

Year ended 31 March 2025

3. Accounting policies (continued)

Incoming resources

All incoming 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 transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated 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 losses.

19

Rural Action

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2025

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease 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 gains and losses on the statement of financial activities.

Depreciation

Depreciation 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 - 33% straight line

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

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 recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

20

Rural Action

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2025

3. Accounting policies (continued)

Financial instruments (continued)

Where investments in shares are publicly traded or their fair value can otherwise 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 instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets 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 risk characteristics.

Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

When contributions are not expected 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 a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.

4. Limited 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 Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2025

5. Donations and legacies

Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
Donations
Donations in Kind 19,500 19,500 19,500 19,500
════════ ════════ ════════ ════════
6. Charitable activities
Unrestricted Restricted Total Funds
Funds Funds 2025
£ £ £
IFI – 405,629 405,629
MUDC EU PIV Connecting Pomeroy – – –
Department of Foreign Affairs: Shared Island Civic
Society Fund – – –
Miscellaneous Income 2,028 – 2,028
PEACEPLUS Changemaker Programme 106,500 – 106,500
Causeway Coast & Glen 6,000 – 6,000
───────── ───────── ─────────
114,528 405,629 520,157
═════════ ═════════ ═════════
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
IFI – 340,920 340,920
MUDC EU PIV Connecting Pomeroy – 80,236 80,236
Department of Foreign Affairs: Shared Island Civic
Society Fund – 31,372 31,372
Miscellaneous Income 10,925 – 10,925
PEACEPLUS Changemaker Programme – – –
Causeway Coast & Glen – – –
──────── ───────── ─────────
10,925 452,528 463,453
════════ ═════════ ═════════
7. Investment income
Unrestricted Total Funds Unrestricted Total Funds
Funds 2025 Funds 2024
£ £ £ £
Bank interest recieved 2,811 2,811 – –
═══════ ═══════ ════ ════

22

Rural Action

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2025

8. Expenditure on charitable activities by fund type

Unrestricted Restricted Total Funds
Funds Funds 2025
£ £ £
Rural development 40,163 424,912 465,075
Support costs 62,181 – 62,181
───────── ───────── ─────────
102,344 424,912 527,256
═════════ ═════════ ═════════
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Rural development 86,644 398,119 484,763
Support costs 28,922 31,850 60,772
───────── ───────── ─────────
115,566 429,969 545,535
═════════ ═════════ ═════════

9. Expenditure on charitable activities by activity type

Activities
undertaken Total funds Total fund
directly Support costs 2025 2024
£ £ £ £
Rural development 465,075
56,905		 521,980 540,580
Governance costs –
5,276		 5,276 4,955
─────────
────────		 ───────── ─────────
465,075
62,181		 527,256 545,535
═════════
════════		 ═════════ ═════════

10. Analysis of support costs

Analysis of
support costs Total 2025 Total 2024
£ £ £
Staff costs 54,433 54,433 51,982
Finance costs 2,472 2,472 2,935
Governance costs 5,276 5,276 4,955
──────── ──────── ────────
62,181 62,181 59,872
════════ ════════ ════════

11. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

Depreciation of tangible fixed assets

2025 2024
£ £
6,411 4,147
═══════ ═══════

23

Rural Action

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2025

12. Auditors remuneration

Fees payable for the audit of the financial statements

2025 2024
£ £
5,040 4,668
═══════ ═══════

13. Staff costs

The total staff costs and employee benefits for the reporting period are analysed as The total staff costs and employee benefits for the reporting period are analysed as follows:
2025 2024
£ £
Wages and salaries 395,770 378,561
Social security costs 36,094 33,151
Employer contributions to pension plans 8,555 8,364
───────── ─────────
440,419 420,076
═════════ ═════════

The average head count of employees during the year was 11 (2024: 12).

The number of employees whose remuneration for the year fell within the following bands, were:

2025 2024
No. No.
£70,000 to £79,999 1 1
════ ════

Key Management Personnel

Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £217,888 (2024:£197,115).

14. Trustee remuneration and expenses

The trustees of the charity were not paid and did not receive any other benefits from employment with the Charity in the year (2024: Nil). The trustees were reimbursed for travel expenses in the year £249.30 (2024:Nil).

24

Rural Action

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2025

15. Tangible fixed assets

Equipment
£
Cost
At 1 April 2024 22,520
Additions 14,955
────────
At 31 March 2025 37,475
════════
Depreciation
At 1 April 2024 20,722
Charge for the year 6,411
────────
At 31 March 2025 27,133
════════
Carrying amount
At 31 March 2025 10,342
════════
At 31 March 2024 1,798
════════
Debtors
2025 2024
£ £
Trade debtors 126,655 108,383
Prepayments and accrued income 2,385 2,489
───────── ─────────
129,040 110,872
═════════ ═════════
Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 895 13,338
Accruals and deferred income 14,445 18,086
Other creditors 1,951 –
──────── ────────
17,291 31,424
════════ ════════

16. Debtors

17. Creditors: amounts falling due within one year

18. Pensions and other post retirement benefits

Defined contribution plans

The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £8,555 (2024: £8,364).

25

Rural Action

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2025

19. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
At
At 31 March 202
1 April 2024 Income Expenditure Transfers
5
£ £ £ £ £
General funds 175,322 136,839 (102,344) (4,446)
205,371
Rural Action Awards 12,000 – – –
12,000
Alternative
accommodation fund 50,000 – – –
50,000
───────── ───────── ───────── ───────
─────────
237,322 136,839 (102,344) (4,446)
267,371
═════════ ═════════ ═════════ ═══════
═════════
At
At 31 March 202
1 April 2023 Income Expenditure Transfers
4
£ £ £ £ £
General funds 261,163 30,425 (115,566) (700)
175,322
Rural Action Awards 12,000 – – –
12,000
Alternative
accommodation fund 50,000 – – –
50,000
───────── ──────── ───────── ────
─────────
323,163 30,425 (115,566) (700)
237,322
═════════ ════════ ═════════ ════
═════════

A designation of £12,000 has been set aside for the Rural Action Awards, which will be spent in the next 12 months. These awards are designed to support volunteer led community action projects that alleviate poverty, ensure economic vibrancy, and promote health & social well-being locally.

The organisation currently operates out of the Administration 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 alternative accommodation over the next 2 years.

26

Rural Action

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2025

19. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
At
At 31 March 202
1 April 2024 Income Expenditure Transfers
5
£ £ £ £ £
IFI PYDP 63,955 278,120 (272,119) –
69,956
IFI CIPP – 127,509 (127,509) –
–
MUDC EU PIV
Connecting Pomeroy – – – –
–
Department of Foreign
Affairs: Shared Island
Civic Society Fund 20,838 – (25,284) 4,446
–
──────── ───────── ───────── ───────
────────
84,793 405,629 (424,912) 4,446
69,956
════════ ═════════ ═════════ ═══════
════════
At
At 31 March 202
1 April 2023 Income Expenditure Transfers
4
£ £ £ £ £
IFI PYDP 63,945 244,039 (243,188) (841)
63,955
IFI CIPP – 96,881 (96,881) –
–
MUDC EU PIV
Connecting Pomeroy (2,411) 80,236 (79,366) 1,541
–
Department of Foreign
Affairs: Shared Island
Civic Society Fund – 31,372 (10,534) –
20,838
──────── ───────── ───────── ───────
────────
61,534 452,528 (429,969) 700
84,793
════════ ═════════ ═════════ ═══════
════════

Department of Foreign Affairs

Rural Action received £31,372 during the 23/24 financial year for the Synergy: Rural Collaboration Project from the Department of Foreign Affairs: Shared Island Civic Society Fund.

Transfers between funds

Transfers out of restricted funds relate to the purchase of fixed assets with restricted funding, on which there is no longer a restriction. Transfers into restricted funds from unrestricted funds are to meet overspends in projects which cannot be reclaimed from funders.

27

Rural Action

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2025

20. Analysis of net assets between funds

Unrestricted Restricted Total Funds
Funds Funds 2025
£ £ £
Tangible fixed assets 10,342 – 10,342
Current assets 274,320 69,956 344,276
Creditors less than 1 year (17,291) – (17,291)
───────── ──────── ─────────
Net assets 267,371 69,956 337,327
═════════ ════════ ═════════
Unrestricted Restricted Total Funds
Funds Funds 2024
£ £ £
Tangible fixed assets 1,798 – 1,798
Current assets 266,518 85,223 351,741
Creditors less than 1 year (30,994) (430)
(31,424)
───────── ──────── ─────────
Net assets 237,322 84,793 322,115
═════════ ════════ ═════════

21. Taxation

The Company is a registered charity, and as such is entitled to tax exemptions on income and profits in furtherance of the charity's primary objectives.

22. Analysis of changes in net debt

At
At 1 Apr 2024 Cash flows 31 Mar 2025
£ £ £
Cash at bank and in hand 240,869 (25,633)
215,236
═════════ ════════ ═════════

23. Contingencies

A contingent liability exists to repay grants and Trust monies received should certain conditions not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Letters of Offers have been, or will be, complied with and no liability is expected.

24. Related parties

There were no other related party transactions during the year other than those disclosed in note 14 (2024: None).

25. Ethical standards

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

28

Rural Action

Company Limited by Guarantee

Management Information

Year ended 31 March 2025

The following pages do not form part of the financial statements.

29

Rural Action

Company Limited by Guarantee

Detailed Statement of Financial Activities

Year ended 31 March 2025

2025 2024
£ £
Income and endowments
Donations and legacies
Donations in Kind 19,500 19,500
──────── ────────
Charitable activities
IFI 405,629 340,920
MUDC EU PIV Connecting Pomeroy – 80,236
Department of Foreign Affairs: Shared Island Civic Society Fund – 31,372
Miscellaneous Income 2,028 10,925
PEACEPLUS Changemaker Programme 106,500 –
Causeway Coast & Glen 6,000 –
───────── ─────────
520,157 463,453
───────── ─────────
Investment income
Bank interest recieved 2,811 –
─────── ────
───────── ─────────
Total income 542,468 482,953
═════════ ═════════

30

Rural Action

Company Limited by Guarantee

Notes to the Detailed Statement of Financial Activities

Year ended 31 March 2025

2025 2024
£ £
Expenditure on charitable activities
Rural development
Activities undertaken directly
Wages & salaries 347,689 332,566
Employer's NIC 30,787 28,147
Pension costs 7,510 7,381
Insurance 8,291 4,688
Staff travel 7,019 6,590
Legal and professional fees – 2,448
Telephone 5,397 6,297
Printing, postage and stationery 3,830 4,426
Depreciation 6,411 4,147
Facilitation & Support: Programme 17,802 60,945
Recruitment – 293
Subscriptions 702 593
Training & Development 2,089 2,570
Computer costs 7,144 3,370
Advertising 234 310
Rent in kind 19,500 19,500
General expenses 670 492
───────── ─────────
465,075 484,763
───────── ─────────
Support costs
Wages/salaries 48,081 45,995
Employer's NIC 5,307 5,004
Pension costs 1,045 983
Accountancy fees 2,472 3,835
──────── ────────
56,905 55,817
──────── ────────
Governance costs
Audit fees 5,040 4,668
Bank charges 236 287
─────── ───────
5,276 4,955
─────── ───────
───────── ─────────
Expenditure on charitable activities 527,256 545,535
═════════ ═════════
───────── ─────────
Net income/(expenditure) 15,212 (62,582)
═════════ ═════════

32