Company Numbcr:N1687717 Charity Number:NIC109305 Watersido Sharnd Village (A company Ilmlted by guarantee) A¢¢ount5 for the year ended 31 March 2024
Watersidc Sharod Village {A company limited by guarantee) Cont¢nls Page Information Directors Report Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to Ihc accounts 8-11
W2terside Shared Village (A company liniited by guarantee) Information Direetors Geraldine Doherty Niree Me Morris Katie Mitchel Elaine Barr Paula Cunningham Reslgned - l 8107123 Resigned - 02112123 Company No: N1687717 Charity No: NIC109305 Registered office Waterside Sliared Village Irisli Street Waterside BT47 2DD Accountants M¢Groarty Mccafferty & Company Lld A¢counlants & T8x consultltS 2 Carlisle Terrace Derry BT48 6JX Bankers Bank of Ireland 27 Culmore Rd Derry BT48 8JB Fage I
Walerside Shared Vill2ge (A company limited by guarnntee) Directors Report Tl)e director5 present tlieir report and the financial statemeiits for tl)e year ended 31 Mar¢h 2024. Objeclivcs and aetivities Tlie principal activity of the compaiiy duTing the year under r¢vi¢w is to manage Watorsido Shared Village Community Hub as a cross cominunity venu¢ available for use by anyone In tlie area of benefit and provide a wide range of programmes and activities. Company Number N1687717 Directors and thelr Interest5 The directors of the charity for the purposes of charlty law aiid throughout this report a collectlvely referred to a5 the directors. The direciors serving during the year and slnce the year end were as follows: Geraldine Dohety Niree Mc Morris Katie Milcliel Governlng Documont The organisation is a coinpany ivitli charitable status. The company ivas established under Memorandum & Artlcles of Assoclatlon whlcl) outlined the orea of benefit and Ihe objects of ihe charitable organisv4tion. Risk Managoment Tlie directors have a risk Inanagement strategy wliicli consists of establishing a system of identifying risks and mitigating such risks. Reserves Policy Waterslde Shored Vlllage liave a pollcy that unrestricled reserves to be maintained at a level to cover six months salary? operotlonal costs and rodundan¢y. Results & Porfornionc¢ Tlie results and perforinance for the year of Waterside Shared VillY4ge ar¢ suminarised in the enclosed accouiits. Flnanci21 rcvieiv The financial perfonnance is summarised in the enclosed accounts. Page 2
Waterslde Sharcd Village (A con)pany limited by guarantee) Dircctors Report .¢ontinued Directors Responslbilities In Relatlon To The FIDanclal Statements The directors of Waterside Sliared Village for the purposes of company law are responsible for preparing the Directors, Annual Report and tlie finaii¢ial statemenls in CordanCe with applicable law and Unlted Klngdom Accounting Standards (United Kingdom Generally Aepted Aocounting Practice). Compaiiy law r¢quir¢s Ihe dircctors to prepare financial stateinents for each financial yMr, that give a true and fair view of the state of the affairs of tlie ¢liarliabl¢ ¢ompany and of ihe incoming resources and application of resources, includlng tlie income and ¢Ap¢ndilur¢, of the charitable company for that period. In preparing these finan¢ial statemcnts, the directors ar¢ required to: select suitable accountinB policies and apply tliem consistenily: observe the metliods and princlples In tlie Cl)arities SORP 2019 (FRS102)' make judgements and estimates that are reasonable and prudent; state wliether applicable UK Accounting Standards have been followed. subje¢t to any mat¢rial departures disclosed and explained in the financlal statements. prepare the financlol staleiiiejits on ih¢ 80ing Gonc¢m basis unless it is inappropriate to pre5um¢ that the charity ivill continue In buslncss. Tlie directors are responslble for Inaii)taining proper accounting records ivhich disclose ivith rcasonable accurn¢y at any tiine thc financial position of the charity and enables tliem to ensure that the financial siateineiits comply ivitli the Companies Act 2006. The directors are also responsible for saf¢guarding the assets of tlie choTity and hence for taking reasonable steps for tlie prevention und dctection of fraud and other irregularities. In so far as the directors are aware: -Ili¢re is iio relevant infom]ation of which the charitable cOmpanS independent exaamin¢r Is unaivare, and -th¢ dircctors have taken all ilie st¢ps that tli¢y ouglit to liav¢ iaken to make themselv¢s aware of any relevant information and to eslablish tliat the independent examiner is alvar¢ of tliat information. This report Is prepared in accordance wilh thc special provisions of part 15 of the Companies Act 2006 relatlns to siiiall coi)Ipanies. This report w&s approved and autliorised for issue by the Board on 20 January 2024 and signed on its behalf by Director firecior Page 3
Waterside Shared Vi112ge (A conipany limited by guarantee) Indcpcndent cxaminer's report on Ihe unuudited financial slatements to the directors of Waterside Shar¢d Vlllagc We report on tlie accounis of th¢ company for the year ended 31 March 2024, which are set out on pages 5-11 Rospoctive responsibilities of chority directors and examloer. As the Charity directors you are responsible for the preparatlon of the aecounls in aceordance with the requirements of tlie Conipanies Act 2006. Having satisfied ourselves that the charlty Is not subject to audit under company law, and is eligible for independent cxaminalion, it is our responsiblllty to; ¢xamin¢ tho accounts under section 65 of tlie Charities Act 2008; follow tlie procedures laid down in the general directlons given by the Charity Commission for Northem Ireland under section 65(9)(b) of the Charities Act 2008. State wlielher particular rnatters have come to our attcntion. Basis of independent examiner's report We liave examined your charity accounts &8 required under section 65 of ilie Charities Act and our examination was carried out in occoidance with ihe general directions given by the Charity Commission for Northern Ircland under Section 65(9)(b) of the Cl)arliles Act. The examinailon included a revicNv of the accounting records kcpt by the charity ond a comparlson of tlie aecounts presenied with those records. It also included a consideration of any unusual items or disclosures in the accoui)ts. and seeking explanallons from you as charity directors concerning any sucli molters. Our role is to slate whetlier any material matlers have come to our aitention giving us cause to believe: that accounting rccords were not k-ept in accordance with section 386 of thc Companics Act 2006. Iliat the accounts do not accord willi 11)os¢ accountlng records. that the accounts do not ¢omply wlth the accounting requirements of the Scction 396 of the Companies Act 2006 and Uie methods and principles of the Cliarltles Statement of Recommended Practice applicable to charities proparlng tlielr accounts in accordance with the Financial Rcportlng Standard applicable in the UK and Republic of Ireland: tl)at there is further infonnation needed for proper understandin& IndcpcDdent examlner's stAtemeDt We have ¢ompleted our exainiiiation and have no ¢oncems in respect of tlle matters listed above and, in connection with th¢ following directlons of the Charity Commission for Northern Ireland, we have found no matters (hat require draivlng to your attenilon. McGroarty. Mecaffe ty& Compan Accountanls & Tax Con5uItAnls 2 Carlisle Terrace Dcrry BT48 6JX Ltd Date: 20 January 2024 PAge 4
Waterside Shared Village (A Company limited by guarantee) Statement of Financial Activiti¢s for the year ¢Dded 31 March 2024 Unrestrlcted Funds R¢$trleted Funds 2024 2023 Income and Expenditure Inwming Resources Grants & Sundry Income Total Ineomlng Rcsources 18,468 18.468 18,468 18,468 Resources Expended Managcmcnt & Administration Total Resourc¢s Expendod 2,288 2,288 2.288 2,288 Net Incomlng l (Out£olng) Resources 16.180 16.180 Transf¢r between funds Balances brouglit forward l April 2023 16,180 16,180 Balances carried forward 31 Marcli 2024 10 16,180 16,180 The above amounts relate to continuing operations of the company. The coinpany has no recognised gains aiid losses other than thosc included in tlie results above and tlierefore no separate stateinent of total recognised gain5 and losses has been presented. There is no difference betsveen Ihe net in¢oming r¢50urccs for the year stated abovc and their historical cost equivalents. Page S
Waterside Shared Village (A conipany limitcd by guarantce) Balance sheet as at 31 March 2024 2024 2023 Notes Current assets Debtors Cash at bank and in liand 9,342 7.486 16.828 Curront Iltsbllltles Accruals 648 Not eurrent assctsl(Ilabllltlos) 16.180 Total Asscts Icss current liabilitics 16,180 Rescrvcs Unreslricted 16.180 10 16.180 Pagc 6
Waterside Shared Village (A eompany limited by guar2ntee) (oontinued) In approving these financiol statements as directors of tlie company we hereby confinn: For tlie year ended 31 March 2024. the company w&g entitled to exemption under section 477 of the Companles Aet 2006 relating to small companies. The dlrectors have not requlred the company to obtain an audit in accordance with section 476 of the Conipani¢s Acl 2006. The directors a¢knowled8e tl)eir responsibilities for complying with the requlremenis ofthe Companies Act 2006 willi respect to accounling rccords and tlie preparation of accounts. Tliese accouiits have been prepared in accDrdllnce witli the provisions applicable to companies subject to the small companles regiine in accordance with FRS102 SORP. The financlal siatements were approved and authorised for issue by the Board on 20 January 2024 and signed on its behalf by: Director Dlreclor Company Numbor: N1687717 Page 7
Waterside Shared Village (A company limited by guarantee) Notes to the accounts for the ye2r ended 31 March 2024 Accounting policies The priiicipal accounting policies adopted in the preparation of the financial siatements are set out below and hav¢ r¢main¢d unchang¢d from Ihe previous year. and also have been consisiently applied within ili¢ same accounts. Accounting Convontion Tlie financial stateinents liave been prepared in accordance ivith A¢¢ountin8 and Reporting by Charities: Statement of Recommeilded Practice applicable to charities preparing their a¢couniS in accordance with tlie financlal Reporting Standard applicable in the UK and Republic of Ireland Charitie5 SORP 2019 (FRS 102), the financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Companies Act 2006 and Charities Aci (Northem Ireland) 2008. In¢ome (i) Grants Grants rcpresents all amounts received and recelvable durlng the year. Capilal grants are releLsed to the profit and105s account in the year in ivhich they are received in line with the SORP 2019 (FRS102). Revenue granis are cr¢dit¢d to the Stateincnt of Finllncial A¢tiviti¢s in tli¢ year ili¢y are receivcd. (li) Donations & administration incoine. Tliis comprises ainounts re¢¢ived during th¢ year. Expenditure (i) Direct Charitable Expenditure Tliis represents all expenditure diRclly attributable to charllable causes. (li) Management & Administration This includes all otlier expeiiditure not dir¢ctly allocated above and a portion of the overhead costs attributable to management and administration. Page 8
W2tersidc Shared Village (A company limited by guarantee) Notes to thc aeeounts ror the year ended 31 March 2024 Income The total turnover of the company for the has been derlved from its principal activity wholly undertoken in the UK. 2024 2023 estrleted Ine Unrestrlcted Ineomc Scheme Monies Key Holdiiig Rooni Hlre 12,198 1,868 4,402 18,468 Total Jncom¢ 18.468 (i) Restrlct¢d Funds Funds received ivliicli are eaniiarked by the funder for specific purposes. Such purposes are ivithin the overall aims of the or8llnisation. {11) Unrestricted Funds Funds wl)icli are expendable at tlie discretion of die company in furth¢rance of tlie aims of the charity. In addition funds may be held in order to finance capital investment and workin8 ¢apilal. Unrestriol¢d reserv¢5 ar¢ at a lev¢1 to cov¢r six months Salary? operational costs and redundancy. Resources Expenqled Unrestrictod Funds Rostrlcted FuDds Total 2024 Total 2023 Manugement & Administration Ev¢nts expens¢s Telephone Accountancy Bank cliarEes 875 329 600 96 875 329 600 96 2,288 2,288 Net Incoming R¢source5 2024 2023 Net incoming resources has been arrived at after cliarging. Depreciatioii Page 9
wateide Shared Village {A company limited by guarantee) Notes to the accounts for Ihe year ended 31 March 2024 Staff note The averdge nuinber of pcrsons employed by the company during the year amounted to O. The ag8rcgatc payroll costs incurred during the year were: 2024 2023 Wages and salaries Pension contributions Taxatlon Tliere is iio charge to IatiOn as Uie coiiipany has cl)Britable status. Debtors 2024 2023 Grants due 9,342 Current Ilabllltlos 2024 2023 Accrua15 648 10. Movements in Funds At At l April Incoming Outgoing 31 Moreh 2023 rosouroos resourcos 2024 Restricted funds: Unrestricted funds: General funds 18,468 (2,288) 16,180 18,468 (2,288) 16.180 Purposes of Rostrictcd Funds Restricted granls awarded to (he charity is provided io cover the core objects as explained in dirlor5 rcport. Page 10
Watcyside Shared Village (A conipany limited by gu2rantec) Notes lo thc accounts for the year ended 31 March 2024 11. Related Party Transu¢tlon5 There were no related party transactions In the year under review. 12. Limited by Guarantoo The company is limited by guarantee and does not have a sliar¢ capital. Page 11