GLIRRYFORD FARMERS, HALL LIMtTED ANNUAL REPORT AND FINANCIAL STATEIVIENrs FOR THE YEAR ENDED 31- AUGUST 2024 Colnpany Regi51ration Number: N1647881 CharAtj¢5 RegistratAOn Num ber." t41C108283
GLARRYFORD FARMERS, HALL LINllTED TRUSTEES ANNUAL REPORT AND FJNANCIAL STATEMENfs FOR THE YEAR ENDED 31ST AUGUST 2024 CONTENTS Pages Report of the TNstees Independent Examiner's Report STatement of Financial Activities (incorporating income aTJd expenditure account) Statement of Financial Position/Balance Sheet Notes to the fmancial Statements 9-15
GLARRYFORD FARMERS, HALL LIMITED REPORT OF THE DIRECTORS {INCORPORA TING TRUSTEES, REPORT) The Directors (who are also the tDJStee5) are pleased to present their report together with the fmancial statements of the charity for the year ended 31 August 2024. which are prepared to meet the requTrements for a directors. report and accounts for Companies Act purposes. The directors have adopted the provisions of the CompanÈes Act 2006 and Accounting and Reporting by Clwities: Statement of Recommended Practice applicable to charities Preparing accounts in accoidance with the Financial Reportino Standard applicable in the UK and Republic of Ireland (Charities SORP- FRS102), in preparing the annual report and fllwicial statements of the charity. Achievements and performance During the year ndraIsIng activities included our annual community quiz, a drama performance by Moycraig YFC, a Speedy Quiz and a barbeque. These help to supplement renial income. which remains a key focus to ensure overheads are covered. Annual income from hire of the hall was £1 0,376 with income from fuDdraising activities being £4,875. We were success1 in our application to the Energia Long Mountain Community Benefit Fund for funding towards a wellness event (held in November 2024), fmancial assisrance towar(ts core costs and funding for TWO buses to Balmoral Show. The free buses to Balmoral are alwa)'s great social oulings with people of all ages across the community travelling together without die stress of driving and walking. which is appreciated by many. The Company was registered with the Charity Conunission Nl on 15th October 2021. The Trustees have had regard to the Charity Commission's Public Benefit requirement. Financial revieiv and funds policy During the Ye ihe Charity had total income of £18,251 and total expenditure of £22,649 resulting in a net deficit of £4.398. The net deficit for the year as shown in the statement of fanCIal activities on page 7 has been transferred to the company's funds. Details of the financial position of the Charity al tbe year-end call be seen on page 8. At the end of the year the Cbarity had £4,062 cash at bank. It is the aim of the Trustees, if possible, to maintain an unrestricted cash reserve equivalent to that of at le&sl two months expenditure. The company plans to continu¢ its activilies in the forthcoming years.
GLARRYFORD FARMERS, HbtLL LI1[TED REPORT OF THE DIRECTORS (continued) Objectives 2nd Activities {and how they deliver public benefjt) The Charity's objects are Stated in its Articles of Association as being specifically restricted to the following". the advancement of education the advancement of citizenship or community development the advancement of the arts. culture. heritsge or science by providing a community hall for use by the community in and around the North AntrTm area for meetings. lectures, classes, drama perfonnances, arts festivals and otber forms of recreational activities. Nothin(y in the Company's Articles of Association shall authorise an application of the property of the Charity for purposes which are not charitable in accordance with Section 2 of the Charities Act (Nortbern Ireland) 2008. The hall consttucled by the company is used as follows: By Glanyford Young Fanners. Club, a )'outh organisation managed by young volunteers with a cUellt mernbership of 80 young people aged between 12 and JO. This organisation has educational, recreational and social aspects lo il and helps reduce isolation in the rural community. Activities include public speaking, crdft floral art, drama, song and dance, stock judging. football, tug of war. debating, presentations and others including significant community events and events lo raise money for charitable causes. The Young Fanners, Club leaders and members contribute significant volunteer hours each year to the local communiry. By Glarryford Women's Instllute, an organisalion for women in the local corDmunity to come together for both social and educational pury)oses. By th¢ local Farmers Union, when again local residents come together for both Social and educational purposes. In addition to the above the hall is available for many other activities particularly ro include celebration events, health and wellbeing activities, coffee mornings and inforniation events. Reference and administrative details Registered name: Charity registration nujnber: Company registraliotj number: Principal offÉce and registered otrice.. Glarryford Farmers, Hall Limited NIC108283 N1647881 21 Killycowan Road, Glarryford, Ballymena. BT44 9HL Company secretary and trnstee: Mrs Gillian Reid
GLARRYFORD FARMERS, HALL LIIWTED REPORT OF THE DIRECTORS {contiDued) Director5 and Trustee5 of the Company The directors who held office during the year were as follows.. Mr Richard Calderwood Mr Robin Chery Mr Mervyn Dickey Mr Wallace Stewart Gregg Mr5 Lynda Jane Mccullough Mr 14ugh MillaT (Tesigned 30th April 2024) Mrs Katherine Anne Millar Mr Ernest O'Hara Mr Peter Alexander Mrs Dawn Stewart (appointed 30tb April 2024) Mrs Catherine Arnislrong (appointed 30th April 2024} Structure? governance and manHgement The company is governed by its Memorandurn and Articles of Association dated 7th September 2017. In the event of the Cornpany being wound up members are required to contribute an amount not exteeding £1. The Board is responsible for the overall governance of the Company and is actively involved in the day-to-day managernent of the organisaiion. Directors are appointed in line with the Memorandurn and Articles of Association of the company. The Board of Directors are also knowm as Trustees for the pUoseS of the Charity Commission. Risk management The directors have conducted a review of the major risks lo which the charity is exposed. Financial risk is reviewed on a monthly basis having due Tegard lo ongoing income and expenses. Statement of direttors, responsibilities The directors (who are the trustee5 of Glaryford Fanners, Hall Limited) are responsible for preparing the directors, report and the fmancial statements in accordance with applicable law and regulatlOIl5. Company law requires the directors to prepare fmancial statements for each fmancial period. Under that law the directors have prepared the financial statements in accordance with United Kingdom Generally Accepted Accountiy)g Practice (United Kingdom Accounting Standards atkd applÈcable law). Under Company law the directors n]ust Dot approve the fmancial statements unless they are satisfied that they give a trne and fair view of the state of affairs of the charitable company and of the incoming resources alld application of resources. including income and expenditUTe for that period. In preparing these fmancial slatements, the directors are required to.. select suitable accounting policies and apply them consistently. observe the metbods and principles in the Charities SORP-FRS102' make judgements and accounting estimates that are reasonable and prudent. state whether applicable accounting standards have been followed, subject to any tnaterial departures disclosed and explained in the rtnancial statement. and prepare the fjnancial statements on the going concern basis unless it is inappropriate to presume thal the company will continue in business.
GLARRYFORD FARIVIERS, HALL LIMITED REPORT OF THE DIRECTORS (continued) The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statetnents comply with the Cotnpanie5 Act 2006. They are also responsible for safeguarding the &ssets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other iTregularities. In the case of each director in office at the date the Directors, Report is approved.. so far as the director is aware, there is no relevant infom]ation of which the charity's independent examiner is unaware. and they have taken all the steps that they ought to have taken as a director in order to make themselves awaTe of any relevant inforniation and to establish that the charitable cojnpany's independent examiner is aware of that knfonnation. Funds held as custodian trustee on behalf olothers The charity does not hold any funds on behalf of others. Independent examiner A resolution to appoint independent examiner will be proposed at the Annual General Meeting. Small companies provision statement This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the Board on 29th April 2025 and signed on its behalf by: MeTvyn Dickey Richard Calderwood Trustee Tnjstee
GLARRYFORD FARMERS, HALL LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GLARRYFORD FARMERS, HALL LIlTED (Company registration number Nt 647881) I report on tbe accounts of the Glatryford Fartners, Hall Litnited for the year ended 31" August 2024 which are set out on pages 7 to 15. Respective responsibilities of trustees 8Dd ex2miner The trustees (who are also the d?rectors of the company for the purposes of company law) are responsible for the preparation of the accounts in accordance with the Charities Act (Northem Ireland) 2008. The trustees consider thai an audit is not required for this period and that an independenl examination is needed. Having satisfied myself Ihar the charity ts not subject to audii under company law and is eligible for independent examination, it is my responsibility to-. exatnine the accounts under section 65 of the Charitie5 Act; and to follow the procedures laid down in the geT)eral Directions given by the Charity Commission for Northern Ireland under sectioT] 65(9)(b) of the Charities Act. and to state whether particular matters have come to my attention. Basis of independent examiner's reporl I have examined YOUT charity accounts as required under secrion 65 of the Charities Acr and my examination was Caled out in accordance with the general Direciions given by the Charity Commission for Northern Lreland. An examination includes a review of the accounting records kept by the charity and a comparison of the account5 presented with those records. It also includes consideration of any unusual items or disclosures ill tbe accounts, and seeking explanations from you as trnslees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given to whether the accounts present a 'tNe and fair view, and the report is limited to those matters set out in the statement below. Independent ex8miner's statement In connection with my examination, no matter has come to my attention: (i) which gives me reasonable cause to believe that in any malerial respect the requirements: to keep accounting records in accordance with section 386 of the Companies Act 2006. and to prepare accounts which accord with the accounting records: comply with the accounting requirements of section 396 of the Companies Acl ?006 and with Ihe methods and prillciples of the Statement of Recommended Practice.. Accounting and Reporting by Charities. have not been met. or (2) to which, in my opinion, attention should be drawn in order to enable a Proper understandÉng of the accounts to be reached. mes Gill pie {F. Stevenson and Wilson 22-30, Broadway A venue, Ballymen BT43 7AA. Ch&rtered AccouDtant5 29 April 2025
GLARRYFORD FARMERS, HALL LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31- AUGUST 2024 Restricted Funds Funds Total Total 2024 2024 2024 2023 Incoming resources Note Grants received OtheT trading activities 3,000 3,000 15,251 3,981 14,233 15,251 Total income 15,251 J,000 18,251 18,214 Resources expended: lJtilities Repairs and maintenaThce Fund raising expenses Chariry running costs Governance cost5 DepreciatTon 6.223 lJ26 616 999 1,556 1,038 7,261 1,326 1,666 999 1,556 9,841 8,332 1,154 1,447 748 1,482 9.841 1,050 9,841 Total expenditure 10,720 11,929 22,649 23,004 Net income/(expenditure) 4,531 (8.929) (4.398) (4,790) Revaluation of propety 12 68,100 Net movement in funds 4,531 (8,929) (4,398} 63,310 Reconciliation of funds: Total funds brought fonvard 16 {33,283) 832,867 799,584 736,274 Total funds carried forward 16 {28,752) 823,938 795,186 799,584 The statement of fjnancial activities includes all gains and losses Tecognised in the period. All iucome and expenditure derives from continuing activities. The notes on pages 9 to 15 forni part of these financial statements
GLARRYFORD FARMERS. HALL LIMITED STATEMENT OF FINANCIAL POSITION I BALANCE SHEET AS AT 31- AUGUST 2024 Note 2024 2023 Fixed assets Tangible red assets Total fixed assets 12 823.026 823,026 832,867 832.867 Current assets Debtors Cash at bank Total current assets 13 9,977 4,062 14,039 6,128 11,083 17.211 Creditors- amounts falling due within one year 14 6,879 15,494 Net eurrent assetsl(Ilabllltles) 7,160 1,717 Total asset5 less current liabilities 830,186 834,584 Creditors - arnounts falling due after more than one year 14 35,000 35,000 Total net assets 15 795,186 799,584 Unrestricted funds General funds 16 (28,752) (28,752) 823,938 795,186 (33,283) (33,283) 832,867 799,584 Total unrestrieted funds Re5trict¢d funds Total charity funds 16 For the year ended 31st August 2024 company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. DirectOTS' responsibilities.. The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476. and The directors acknowledge tiieir responsibilities for complying With the requirements of the Act with respect to accounting records and the preparation of accounts. The fmancial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies. regime under The Companies Act 2006 and with Charities SORP-FRS 102. The financial statetllents on pages 7 to 15 were approved by the Board of Trustees on 29th April 2025 and signed OD its behalf by.. Mervyn Dickey Trnstee Richard Calderwood Trnstee The notes on page5 9 10 15 form part of these financial sthtements.
GLARRYFORD FARKERS, HALL LIMITED NOTES TO THE FINANCIAL STATEMEf4TS FOR THE YEAR ENDED 31- AUGUST 2024 l. Company infornlation The Company ts limited by guarantee and is incorpordted in Northern Ireland. The address of tbe registered office is 21. Killycowan Road. Glanryfor(L Ballymena, County Antrim. The financial statements were authorised for issue by the Board on 29th April 2025. 2. Accounting policies The principal accounting poltcies adopte(L judgements and key sources of esti]natioD uncertainty in the preparation of the ftnancial statements are as follows: Basis of preparation The financial statements have been prepared on a going concern basis in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities prepariJ)g their accounts in aCL0rd(Le with Ibe FIan(la1 Repoff ing Standard applicable in the UK ond Republic of Ireland (FRS 102) (Chariiies SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity meets th¢ defmition of a public benefit entity under FRS 102. Assets and liabilities are initially recogni5ed at historical cost and trdnsaction value unless otherwise stated in the relevant accounting policy note(s}. Preparation of accounts OD a going concern basis The Charity generally meets its day to day working capital requirements from its anJ)ual income. The'frustees have obtained and reviewed cash flow forecasts for the coming year and based oy] these are satisfied thai the Charity has resources to provide a reasonable expectation that it can continue to meet its ftnancial obligations as they fall due for the foreseeable re. These fancial statements have therefore been prepared on a going concern basis. Incoming resources Income from donations OT grants is recognised when Ihere is evidence of entitlement to the gift, receipt is probable and its amounts can be rneUred reliably. In the case of a grant this is when the fonnal offer of funding is commLmicated in writing to the charity and when all tenns and conditions have been mel. In the ase of a donation this arises illLmediately on its receipt. Rental income is recognised when the Charity has established an entiilemenl to the income. Re.sources expended Resources expended are recognised in the period in whtch they are incurred. Charitable expenditure comprises tbose costs incurred by the chlty in the delivery of its activities and services to its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
GLARRYFORD FARMERS, HALL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 (continued) 2. Accounting policies (continued) Tangible assets The tangible assets of the Charity comprise of laDd and buildings held as investment property and equipment. Investment property 15 carried at fair value. derived from the cuent market prices for comparable real estate detemiined annually by the Director5. Changes ID fair value are recognised in profit or loss. Equipment will be depreciated at a rate calculated to reduce it to residual value at the end of its expected nonnal life on a straight.line basis at a rdte of either l 0% or 200/0 per annum. The assets, residual values and useful lives are reviewed. and adjusted, if appropriate, at the end of each reporting peTiod. The effect of any change is accounted for prospectively. Tangible assets are derecognised on disposal or when no future economic benefits are expected. On disposal, the difference between the new disposal proceeds and the carying amount is recognised in the statement of fancial activitie5 and included in "other operating gainsl(losses)" Short-term debtors and ¢redilors Debtors and creditors with no staled interest rate and r¢c¢ivable or payable within one y¢ar ar¢ r¢corded at transaction price. Financial assets. including debtors. are reviewed ai the reporttng date to determiDe if there is any evidence of potential impairment. Any losses arising from impairn]ent are recognised in the income Statement tn operating expenses. Cash and cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-terni highly liquid investmenis with original marurities of three months or less and bank overdTafts. Financial instruments The Charity only has fancial assets and fjnancial liabilities of a kind that qualify as basic financial instruments. Basic fmancial inslrumcnts are initially recognised al transa¥lion pric¢ and subsequ¢Jiily measured at their settlement value. Funds Funds are classified as either unrestrieted funds or restricted funds, defmed as follows. Unrestricted funds are expendable at the discretion of the trustees in furtherar)ce of the objects of the chartty. If parts of the unrestricted funds are earnlarked at the discretion of the trustees for a particular purpose, they are designated as a separate fund. This designation has an athninistrative pUoSe only and does not legally restrict the trustees, discretion to apply the fund. Restricted funds are funds subject to specific requirements as to their use which may be declared by ihe donor or with their authority or created ttLrougb legal PTocesse4 but still within the wider object5 of the Charity. 3. Critical accounting judg¢ments and estimation uncerlginty Estimates and judgments made in the pro¢ess of preparing tlle faILCRa1 statements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstrances. The Trustees do not Consider that there are any critical judgments made in applying the Company's accounting policies or tbat there are any critical accounting estimates or assumptions whicb may have a significant risk of causing a material adjustment to canying amounts of assets aud liabilities within the next financial year. io
GLIIRRYFORD FIIRMERS, IL4LL LIMITED NOTES TO THE FINAtYClAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2024 {continued) 4. Grants received Unrestricted Fund5 2024 Restricted Funds 2024 Total 2024 Total 2023 Grants r¢ceiv¢d 3,000 3,000 3,981 5. other trading activities Unrestricted Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 Renial income Fundrnising activities 10,376 4,875 10,376 4,875 8,138 6,095 15,251 15,251 14,233 6. Utllitles Unrestrieted Funds 2024 Restricted Funds 2024 Total 2024 Total 2023 Rates Insurance 90 1,546 3,472 90 85 2,427 4,631 1,189 1,038 Heat, light and power Telephone 3,472 1,115 6,223 1,038 7,261 8,332 7. Fund raising expenses Unrestricted Fujjds 2024 Restricted Funds 2024 Total 2024 Total 2023 Catering expense5 Travel expeD5es 616 616 1,050 1,447 1,050 616 1.050 1,666 1,447
GLARRYFORD FARMERS, HALL LIIVIITED IYOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31. AUGUST 2024 (continued) 8. Governance costs Unrestrieted Funds 2024 Restricted Fund5 2024 Total 2024 Total 2023 Accountancy fee Bank fe¢s iJoo 1,500 56 1,440 42 1,556 1,556 1,482 9. Transfers between funds Unrestricted funds are spent or applied al the discretion of the trustees to fvrther any of the charity's purposes. Unrestricted funds can be used ro supplement expenditure made from res¢ricied fijnds. 10. Taxation The Company is recogni5ed &s a charity for the pury)oses of applicable taxation legislation and is therefore not subject to taxation on its charitable activities. I l. Analysis of staff eosts, trustee remuneration and expenses, and the cost of key management personnel The average number of employees during the year, was as follows.. 2024 Number 2023 Number Directors There are no eJnployees and key management are deeined to comprise the Directors. No trustee or a person related to a trustee had any personal interest in any contract or transaction entered into by the charity during the year. There w&s no remun¢ration paid to Directors during the year (20?3'. £nil). No expcnses w¢rty incurred in respect of Directo. 12
GLARRYFORD FARMERS, HALL LIMITED ST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2024 (continued) 12. Tangible red assets Investment properts, _ land ad buildings Equipment Total Cost As at 1st September 202) Additions As at 31st August 2024 731.900 68,781 800,681 731,900 68,781 800,681 Depreciation As at 18l September 2023 Depreciation charge for th¢ year As at 31" August 2024 35,914 9,841 45,755 35,914 9,841 45,755 Revalu8tion As at 1st September 2023 Movement during the year As at 31. August 2024 68.100 68,100 68,100 68,100 Net book value at 3191 August 2024 Nei book value al 31$1 August 2023 800,000 800,000 23,026 32,867 823,026 832,867 The directors have revalued the company's investtnents properry to fair value at the balance sheet date. This will be reviewed on an annual basis by the directors. The Department of Education. who have provided approximately £713,000 of grant aid nd]llg towards the ost of ¥onstruclion of n¢w building, hav¢ a fixed charge ov¢r the land on which lh¢ new hall is b¢ing built. 13. Debtors 2024 2023 Grants receivable Rent receivable PTepayments 3,981 120 2.027 7,500 2,477 9,977 6,128 13
GLARRYFORD FARMERS, HALL LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31- AUGUST 2024 (continued) 14. Creditors 2024 2023 Due within one year Due to associated enliry Other creditors Accruals s,000 439 10,000 4,054 1,440 1,440 6,879 15,494 Due after one year Due to associated entiry 35,000 35,000 15. Analysis of net assets Unrestricted General Restricted General Total Fixed assets Cuent a55ets Currenl liabiltties Long tenn liabilities 823,026 912 823,026 14,039 (6.879) (3 5,000) l3,l27 (6,879) (35,000) Net assetsl(Ilabllltles) at 31st August 2024 (28,752) 823,938 795,186 16. FurAds of tbe Company At 1st September 2023 At 31st August 2024 Income Expenditure Unrestricted fund5 General fund (33,283) (3J,283) 15.251 15,251 (10,720) (10,720 (28,752) (28,752) Restricted funds General nd 832,867 832,867 3,000 3,000 (11,929) 11,929 823,938 823,938 Total fund5 799,584 18,251 (22,649) 795,186 ose of restricted ndS These funds are to be used towards the sUPPOrt of the charitable work of the charity. 14
GLARRYFORD FARMERS, HALL LIlTED NOTES TO THE FII¥ANCIAL STATEMENTS FOR THE YEAR ENDED JIST AUGUST 2024 (continued) 17. Financial ill5trurnent5 At the balance sheet date. the Charity held the following financial instrutnents: 2024 2023 Financial assets tbat are debt instruments measured at amortised cost 7,500 40,439 4,101 49,054 Financial li2bilities measured at arnortised cost 18. Related party transactions The following amounts were repaid to associated entity. Glarryford Young Farn)ers Club during the year: 2024 2023 Loan repaid 5,000 5,000 At the year-end £40,000 (2023: £45,000) of the loan was still repayment and has been included within creditors. This loan is interest free and has no fixed tenn. These entlties are related as they are under the control of the same trustees. None of the direclors/irustees received remuneration as detailed at note 12. 19. Capital commitments The company had no capital commitments at the balance sheet date (2023.. £nil). 20. Controlling party During the year Glarryford Farniers, Hall Limited was under the control of the Trustees. 15