Wee Community
Report and Accounts
for the year ended 31 March 2024
| Wee Community | |
|---|---|
| Reports and accounts | |
| Contents | |
| Trustee Committee and Other Information | 3 |
| Trustee Committee’s Report | 4 |
| Statement of Trustees’ Responsibilities | 5 |
| Independent Examiner's Report | 6 |
| Statement of Financial Activities | 7 |
| Balance Sheet | 8 |
| Accounting Policies and Notes to Financial Statements | 9-10 |
Wee Community Trustee Committee and Other Information
Trustees Committee
Matthew Rice (Chairperson) Ronald Mann (Treasurer) Carson King
Bankers
Lloyds Bank Birmingham OSC 4, Ariel House Sheldon B26 3JW
Independent Examiner
Stephen Cox 32 College Glen Derry BT48 8PX
Registered office
29 O’Casey Court Derry BT48 0PS
Charity Number
109000
Wee Community Trustee Committee’s Report
for the year ended 31 March 2024
The Trustees' committee presents their report and the financial statements for the year ended 31 March 2024.
Objectives
We aim to enhance collaboration and shared outcomes among communities in the North West of Ireland to add value to the activities undertaken by groups in the local areas. In particular, these are as follows: (1) To advance the community within the area of benefit and in particular the promotion of the community and voluntary sector for the benefit of the public. (2) To promote volunteering and community involvement for the benefit of the public. (3) To promote good governance amongst local groups and organisations. (4) To promote and support the charitable activities of local groups and organisations. (5) To foster support for research in community development, urban regeneration, health and education and to use the research for the public benefit. (6) To promote good community relations, religious and racial harmony, social cohesion, equality and diversity for the public benefit. (7) To promote such other exclusively charitable purposes following the law of charity in Northern Ireland as may from time to time be determined.
Public Benefits and What We Do
We are dedicated to fostering collaboration and shared success among the people of the North West of Ireland. Through organising and delivering workshops to volunteers and community groups, we empower individuals and organisations to work together toward common goals. Our initiatives advocate for meaningful partnerships among diverse communities, offering tailored advice to our members and helping them identify shared objectives, connect with like-minded collaborators, and seize new opportunities. By promoting cooperation and producing tangible, shared outcomes, we strengthen the social fabric of the region. The primary beneficiaries of our efforts are individuals and groups across the North West of Ireland who seek to contribute to and thrive in collaborative community endeavours.
Results
The surplus for the year amounted to £11,295 (2023 - £14,925 deficit). The committee members are satisfied with the progress and will continue into the next financial year.
Trustees Committee Membership
The following people served on the Trustee Committee during this year:
Matthew Rice (Chairperson) Ronald Mann (Treasurer) Carson King
This report was approved by the Trustee Committee and signed on its behalf by:
……………………………... Matthew Rice (Chairperson)
…………………………… Ronald Mann (Treasurer)
Date: 03/01/2025
Wee Community Statement of Trustees’ Responsibilities
The charity's trustees are responsible for preparing an annual trustee's report and financial statements in line with relevant legislation and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). According to the charity's constitution, the trustees must compile financial statements annually. These statements must accurately and fairly reflect the charity's financial condition, as well as detail the incoming resources and how they are applied, encompassing both the income and expenditure of the charity for that specific period.
In the process of preparing the financial statements, the trustees must:
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Choose appropriate accounting policies and apply them consistently throughout the financial statements.
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Adhere to the guidelines and principles outlined in the Charities Statement of Recommended Practice (SORP).
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Make judgements and estimates that are both reasonable and prudent in the context of the charity's operations and financial status.
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Declare any UK accounting standards that have been adhered to, noting any significant deviations which must be disclosed and justified within the financial statements.
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Compile the financial reports under the assumption of a going concern, except in cases where it becomes reasonable to believe that the charity will not continue its operations.
The trustees hold the duty of maintaining accurate accounting records that, at any point, reasonably reflect the charity's financial status and ensure the financial statements are in accordance with applicable laws and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Their responsibilities also extend to protecting the charity's assets and implementing adequate measures to prevent and identify fraud and other irregularities. Furthermore, trustees are accountable for preserving the integrity of the charitable and financial information on the charity’s website. It is important to note that the legal requirements governing the preparation and distribution of financial statements in the United Kingdom may vary from those in other jurisdictions.
Statement as to disclosure to the independent reviewer:
In so far as the trustees are aware at the time of approving our trustees' annual report:
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there is no relevant information, being information needed by the independent examiner in connection with preparing their report, of which the independent examiner is unaware, and
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the trustees, having made enquiries of fellow trustees and independent examiners that they ought to have individually taken, have each taken all steps that they are obliged to take as a trustees to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information.
By order of the board of trustees
……………………………... Matthew Rice (Chairperson)
Date: 03/01/2025
Independent Examiner's Report
to the Trustees of Wee Community
Independent Examiner's Report to the Trustee Committee of Wee Community
I report on the accounts of Wee Community for the year ended 31 March 2024, which are set out on pages 7 to 10.
Respective responsibilities of the trustees and examiner
As the charity's trustees, you are responsible for preparing the accounts in alignment with the Charities Act (Northern Ireland) 2008.
My duties entail:
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Conducting an examination of the Accounts under Section 65 of the Charities Act.
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Adhering to the procedures established in the general directions provided by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act.
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Reporting whether specific matters have been brought to my attention.
Basis of Independent Examiner's Report
I have examined your charity's accounts to ensure they comply with Section 65 of the Charities Act. This examination adhered to the general directions provided by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The scope of this examination encompassed an evaluation of the accounting records maintained by the charity and a comparison of the presented accounts against these records. Additionally, the examination involved an assessment of any unusual items or disclosures within the accounts and soliciting explanations from you, as charity trustees, regarding any such findings. My responsibility is to determine whether there have been any material matters brought to my attention that would lead me to believe:
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That the accounting records have yet to be maintained in accordance with Section 63 of the Charities Act.
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That the accounts presented do not align with those accounting records.
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That the accounts fail to meet the accounting standards stipulated by the Charities Act.
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That additional information is necessary to achieve a comprehensive understanding of the accounts. This is in reference to CCNI ARR07 - supporting document dated 11 August 2016.
Independent Examiner's Statement
Upon completing my audit concerning the entity, including evaluating the practices and methodologies employed, I have not observed any material discrepancies warranting concern. Through the audit procedures executed and examining the available records, I possess adequate evidence to conclude that the financial statements provide an accurate and fair view of the charity’s financial position. Furthermore, no additional matters necessitating attention have come to light.
Stephen Cox
32 College Glen Derry BT48 8PX
03 January 2025
Wee Community Statement of Financial Activities
for the year ended 31 March 2024
| Note Income Donations 4 Gift Aid Grant Services Administrative Expenses Expenditure Facilities Telephone & Internet Admin and office costs Equipment and electronics Travel and subsistence Printing, postage and stationery Professional and consultancy fees Staff training Project-related costs 2 Wages and salaries Bank Charges Sundry expenses Loan repayments Net (expenditure) and net movement in funds in year Reconciliation of funds Total funds brought forward Total funds carried forward All amounts relate to continuing operations |
Restricted Funds Unrestricted Funds - 137,559 - 33,890 - 5,000 - 2,476 - 178,925 - 12,771 - 1,411 - 3,405 - 9,430 - 10,649 - 2,523 - 4,785 - 7,558 - 88,575 - 21,574 - 19 - 1,685 - 3,245 - 167,630 - 167,630 - 11,295 - 15,395 - 26,690 |
2024 £ 137,559 33,890 5,000 2,476 178,925 12,771 1,411 3,405 9,430 10,649 2,523 4,785 7,558 88,575 21,574 19 1,685 3,245 167,630 167,630 11,295 15,395 26,690 |
2023 £ 183,530 - - 9,892 |
|---|---|---|---|
| 193,422 | |||
| 16,614 1,392 4,888 18,009 16,028 3,982 7,500 11,871 108,521 14,776 58 1,392 3,316 |
|||
| 208,347 | |||
| 208,347 | |||
| (14,925) 17,426 |
|||
| 15,395 | |||
The statement of financial activities includes all gains and losses recognised in the year.
Wee Community Balance Sheet
as of 31 March 2024
| Note Current assets Cash at the bank and in hand Creditors: amounts falling due within one year 3 Net current (liabilities)/assets Net (liabilities)/assets Fund Account Total Funds |
2024 £ 26,690 (17,129) 9,561 9,561 9,561 9,561 |
2023 £ 17,426 (19,907) |
|---|---|---|
| (2,481) | ||
| (2,481) | ||
| (2,481) (2 |
||
| (2,481) |
On behalf of the Trustee Committee, we endorse these financial statements and affirm that all pertinent records and information have been provided for their preparation. The trustees have compiled the accounts in compliance with Section 130(1) of the Charities Act 2011.
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……………………………...
Matthew Rice (Chairperson)
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Date: 03/01/2025
Wee Community Accounting Policies and Notes to financial statements
for the year ended 31 March 2024
1. Accounting policies
Basis of preparation
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
a) Basis of preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: 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) (effective 1 January 2015) - (Charities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland.
The entity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
b) Reconciliation with the previous Generally Accepted Accounting Practices
In preparing the accounts, the trustees have considered whether, in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102, no material restatement of comparative items was needed.
c) Preparation of accounts on a going concern basis
The entity reported a net expenditure of £26,690. The trustees actively monitor income and have implemented measures after year-end to manage operating costs and enhance income generation, securing the entity's immediate future. Strong goodwill from the local community supports the entity, as it has secured funding from various sources and planned several fundraising activities for the next twelve to eighteen months.
Cash flow statement
The entity has availed of the FRS 102 Section 7 exemption from the requirement to produce a cash flow statement. Income comprises the various income streams detailed in the Statement of Financial Activities and is recognised when received.
Government Grants
Grant income is recognised in income when received.
Wee Community
Accounting Policies and Notes to financial statements
for the year ended 31 March 2024
2. Project Costs
| Collaborative Impact Fund Community Connect Forum Shared Resources Network Volunteer Accelerator Program Wee Changemakers 3. Creditors Government Bounce Back Loan |
2024 £ 8,500 18,044 14,785 22,374 24,872 88,575 2024 £ 17,129 17,129 |
2023 £ 10,000 19,469 33,355 18,820 26,877 108,521 2023 £ 19,907 |
|---|---|---|
| 19,907 |
Per the Government Bounce Back Loan Scheme agreement, no repayments are due in the first twelve months from the drawdown date. In addition, the government will meet all related fees and interest charged in the same period. After the first twelve months, interest is calculated monthly at 2.5% per annum.
4. Fund Account
| Surplus/ (Deficit) for the financial year Opening Total funds Closing Total funds |
2024 £ 11,295 2,501 13,796 |
2023 £ (14,925) 17,426 |
|---|---|---|
| 2,501 |