Charity registration number NIC105023
Company registration number NI640837 (Northern Ireland)
ROE VALLEY RESIDENTS ASSOCIATION
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
ROE VALLEY RESIDENTS ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Simone Bonham
Marie Campbell
Chloe Devine
Doreen Rodgers
Una Simpson
Lorna Wilson
Jennifer Campbell
(Appointed 28 September 2023)
Wendy Ferris
(Appointed 28 September 2023)
Patricia Keys
(Appointed 28 September 2023)
Geraldine McLaughlin
(Appointed 28 September 2023)
Sadie Mulgrew
(Appointed 28 September 2023)
Dolores O'Brien
(Appointed 28 September 2023)
Charity number
NIC105023
Company number
NI640837
Registered office
13-14 Keady Way
Limavady
BT49 0AU
Auditor
PFS & Partners Limited
16 Main Street
Limavady
BT49 0EU
Bankers
Bank of Ireland
2 The Diamond
Coleraine
BT52 1DE
ROE VALLEY RESIDENTS ASSOCIATION
CONTENTS
Page
Trustees' report
1 - 7
Independent auditor's report
8 - 10
Statement of financial activities
11
Balance sheet
12
Statement of cash flows
13
Notes to the financial statements
14 - 22
ROE VALLEY RESIDENTS ASSOCIATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)
FOR THE YEAR ENDED 31 MARCH 2023
- 1 -

The trustees present their annual report and financial statements for the year ended 31 March 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Articles of Association, the Companies Act 2006 and "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 2019).

Governing document

Roe Valley Residents Association is a Private Company Limited by Guarantee, incorporated on 15th September 2016 who maintain and manage the organisation. The governing document of the Charity is a Memorandum & Articles of Association, which sets out the objects and powers of the charitable company.

Recruitment and appointment of Directors/Trustees

The directors of the company are also trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the number of Directors shall not be subject to any maximum but shall not be less than 3. At Annual General Meetings, one third of Directors shall retire by rotation.

Risk management

The Management Committee take risk assessment seriously and have in place a series of policies and procedures about how the organisation should be managed. Internal control risks are minimised by the implementation of robust policies and procedures for all activities.

Organisational structure

Roe Valley Residents Association has a management board of 9 members. All 9 board members have voting rights. The board meet bi-monthly and are responsible for the strategic direction of the charity. There is also a Project Co-ordinator who advises, however, has no voting rights.

 

Day to Day responsibility for the provision of services rests with the Project Co-ordinator. The Finance, Administration and Project Officers/Youth Officers team support this work. At present, there are 20 staff including full time, part time and sessional staff. However, this can change from time to time depending on projects. The Project Co-ordinator has responsibility for ensuring that the charity delivers the services specified and that key targets are met particularly in relation to the funding secured for services being delivered.

Recruitment and training of staff

Roe Valley Residents Association adheres to strict recruitment and selection policy. Where external recruitment is required, job advertisements are placed on Job Centre Online and Community NI. Training needs of staff are identified through a Training Needs Analysis and performance appraisals.

The trustees have paid due regard to guidance issued by the The Charity Commission for Northern Ireland in deciding what activities the charity should undertake.

ROE VALLEY RESIDENTS ASSOCIATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 2 -

Objectives and activities

This document has been prepared based on the guidance provided by the Charity Commission and Trustees have had regard to the Commission's Public Benefit requirement statutory guidance.

 

The Company's objectives are to relieve poverty, sickness and help the aged and to promote the benefit of the inhabitants of the Limavady estates and district area of Co Londonderry and its environs, without distinction of age, sex, race, political, religious or other opinion, by associating the statutory authorities, voluntary organisations and inhabitants in a common effort to advance education, and to provide facilities in the interests of social welfare for recreation or other leisure time occupation, with the object of improving the conditions of life for the said inhabitants, in particular:

 

a) To maintain and manage a centre, or to cooperate with any local statutory authority in the maintenance and management of such a centre for activities promoted by the company and its constituent bodies in furtherance of the above objects.

 

b) To provide or secure the provision of social services, educational and recreational facilities and practical assistance for elderly and disabled people within the area of benefit.

 

c) To provide or secure the provision of an accessible welfare rights advice and information resource and refer those in need of professional assistance to the relevant agencies.

 

d) To provide a counselling service for the purpose of relieving stress in the following groups - women, single parents, preschool children, youth, unemployed, those suffering from the effects of poverty or debt, and further, to respond to any identifiable social or other need which may arise within the community.

 

e) To provide and equip premises and centres required for the purposes of the Company.

 

f) To organise, sponsor and conduct (whether alone or with others) educational and training courses and meeting, conferences and exhibitions.

 

g) To publish and distribute materials relating to the work of the Company.

Activities delivered at the community centre on a regular basis are:

 

• Youth Clubs

• Craft Clubs

• Luncheon Clubs

• Educational classes

• Health related programmes

• Environmental projects

• Good Relations Projects

• Christmas savings club

• Community Clean-ups

• Seasonal programmes

• Older People activities

• Summer youth programmes and,

• Employability projects

ROE VALLEY RESIDENTS ASSOCIATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
Achievements and performance

Roe Valley Residents’ Association is based within the Hospital Lane estate in Limavady, both in Keady Way and at premises located in Limavady Town Centre. Through the organisation’s planning, development and growth over the years, the need was identified to have access to a town centre premises – one which would be easily accessible by all in the local community. The investment provided from the wide variety of funders supported the organisation to plan, develop and deliver a wide range of projects and programmes aimed at tackling the range of problems prevalent in the Greystone wards and wider Limavady area. RVRA continued to strive towards increasing the range of services provided in the local community. The RVRA Project Co-ordinator, with a wide range of internal and external stakeholders, identified the needs of the local community, sourced additional funding and designed programmes and activities which best suited these needs and continued to work in partnership with voluntary and statutory agencies to develop and deliver community programmes and ensure that the voice of the community of Hospital Lane was represented. There continued to be engagement with hard-to-reach demographic groups and proactive encouragement and support to new and existing volunteers to enhance confidence, skills and further opportunities, as well as offering a range of diversionary projects for young people living within the local area.

 

The development of the organisation’s strategic plan has enabled the organisation to have a clear vision of its future and is the tool being used as the catalyst to drive forward its activities and decisions.

The core funding received from the Department for Communities under the Neighbourhood Renewal Programme, has been instrumental in developing the organisation in terms of growth and sustainability. Looking at the needs based of the local population across the Neighbourhood Renewal Area in Limavady and beyond, the Project Co-ordinator has liaised with many other statutory and community and voluntary organisations to bring about additional investment to help address the many inequalities that our local community face on a daily basis.

 

Volunteering continued to be an integral part of RVRA’s success and its ability to cater for the wide range of needs of the residents living locally within the Neighbourhood Renewal Area. During 22/23 RVRA had 38 volunteers who offered their skills and commitment to the organisation, from input on an ad hoc basis to more than 20 hours per week. RVRA continued to support volunteers through online information sessions on the impact of Covid-19 on mental health and physical wellbeing. In addition to this, they were able to have volunteer’s complete walk leader training. Volunteers and staff played a vital role in the successful delivery of our community-based activities.

 

Education continues to be a key focus for Roe Valley Residents Association in their aim of providing additional opportunities for all local residents. 119 accredited qualifications were achieved by local residents ranging from young people through to older adults keen to engage in education again. 36 local people were successful in achieving Essential Skills in Literacy and/or Numeracy and with 20 participants completing an OCN Level 2 in Youth Work, with a further 20 completing Level 2 in First Aid. Through funding from BBC Children In Need and a programme delivered by Youth Work Alliance, 10 of our young peer leaders, completed and achieved a L4 Queen’s University Certificate in Research Skills.

 

Roe Valley Residents Association continued to support the Continued Professional Development of its staff, with 10 staff completing Neuro Linguistic Programming Training (NLP), 3 staff have commenced their BSc Hons in Youth & Community Work, 1 staff member is professionally trained in reflexology and 3 staff members have commenced their Level 7 Qualification in Cognitive Behaviour Therapy (CBT).

 

In order to address the dependency on doorstep lending, RVRA continue to offer its weekly savings club, with 133 local people saving for Christmas.

 

The Building Brighter Futures PYDP project has proved very successful since its inception in 2016. Throughout this time, over 100 young people have or are completing a personalised programme of training and development. Of the 102 registered participants, 20% have moved onto further education or training, with 37% directly into employment, whilst the project is currently still engaging with 15% of these participants. In total, there has been 31 accredited courses provided to our project participants which has included, Sign Language Level 1, Action Planning for Employability, CSR courses, Customer Care, Food Safety & Hygiene L2, & OCN in Good Relations to name a few.

ROE VALLEY RESIDENTS ASSOCIATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 4 -

In addition to the accredited courses, a total of 60 non-accredited programmes were delivered to our project participants. This was very well received amongst the project participants offering a great boost to their confidence and interpersonal skills, whilst also developing their business acumen. The local community was also able to benefit from this as they were able to support the young people by purchasing the goods that were being produced. Other non-accredited programmes included Theatre of Witness workshops, Road Safety, Wash Away Your Worries, School Of Hope, 1 Pill Will Kill workshops & Personal Budgeting and Finance.

 

The interventions provided by PYDP has proved to have an impact on the project participants as we have seen 38 of these participants securing employment, and for some, they are now in their 6th year of employment, and some still with the same employer, whilst continuing to make positive life choices. The young people on The Building Brighter Futures project also completed industry visits to local businesses learning about the different types of organisations and industries that operate within the local economy.

 

The Education Authority’s Local Area Based Project continues to run daily/weekly, providing Generic Drop-in, alongside streetwork and targeted programmes and with 5 moderations completed by EANI officials: to date, we have been rated ‘Outstanding’ on all of the 4 visits.

 

RVRA also successfully delivered 3 other major externally funded programmes from July 2022 until March 2023, funded through TEO TBUC Summer Camps. TBUC 1 engaged with 60 children and young people aged 11-13 in a project opening up opportunities for young people to forge new friendships in positive and safe environments. These 60 young people participated in a two day residential experience. In addition to this, TBUC Project 2 engaged with 40 young people aged 14-16 in a Good Relations Project which addressed the similarities and differences in communities through the medium of sport. This was delivered in October 2022-January 2023. Both these projects achieved great success as there were a lot of new friendships forged between young people from differing community backgrounds and a mutual level of respect developed for each other’s cultural backgrounds. The third TBUC programme engaged 20 young people aged 16-18 in a peer leadership programme. The young people completed a Level 1 OCN Level 2 in Mental Health.

 

BRACE continues to run over a 4 -day period with retention staying at a high level. 21 young people participated on the programme. To date there has been 1972 contacts being made since March 2022. Project participants were supported on a journey of recovery, building resilience, confidence and self esteem by the Wellbeing Officers on the project. Exposure to new experiences and opportunities has boosted these young people in to pursuing volunteering opportunities across the organisation. RVRA became the enabler in this programme, providing a safe and secure space for participants to be explore potential long term opportunities. The holistic and person centred approach to the programme, allowed participants to see the benefits that lifestyle choices, routines and healthier regimes can have on one’s own Mental Health.

 

The TEO Good Relations Programme for the area was delivered every Wednesday night at the Hub. We had 48 people registered. There continued to be excellent attendance at the ongoing workshops and participants are thoroughly enjoying the next element of the programme. Participants availed of tin whistle and bodhrán drumming sessions, and there was an educational visit to Stormont prior to structured workshops surrounding the current political situation in Northern Ireland. Participants all attended a celebration event. Participants also took part in a Good Relations Community Consultation through CCGBC, to feed through opinions, suggestions and improvements around Good Relations work in the local area.

 

Relationships and friendships have strengthened immensely within the group with one male participant stating that they have made 6 ‘good friends’ from a community background different to his own since joining the programme. He stated that he lived a very isolated and lonely existence seldom meeting or connecting with people month to month. Through attending the weekly workshops, this has helped build his confidence, build trust, and challenge his personal views and misconceptions he held previously.

 

In addition to the many funded and targeted programmes, RVRA continue to provide signposting, interventions and support to local families, older people and young people primarily with the aim of improving their quality of life. RVRA continue to provide weekly food parcels to local families, provided through the Fareshare Programme. In addition to this, weekly luncheon clubs, youth clubs and craft clubs continue to run between both the community house in Keady Way and at the Youth & Community Hub in the town centre.

ROE VALLEY RESIDENTS ASSOCIATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 5 -
ROE VALLEY RESIDENTS ASSOCIATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 6 -
Financial review

Roe Valley Residents Association is a not for profit organisation and therefore does not aim to hold substantial reserves. The minimum reserves held, are to ensure overheads are covered for a period of 6 months. Income generated from local fundraising initiatives are used to contribute towards the running of the community facility as well as some additional services, such as, seasonal activities for all beneficiaries.

Trustees and directors

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

 

Simone Bonham
Micheal Brown
(Resigned 28 September 2023)
Marie Campbell
Chloe Devine
Leona Kealey
(Resigned 28 September 2023)
Kenneth Martin
(Resigned 28 September 2023)
Samantha McAteer
(Resigned 24 June 2022)
Natasha McDonald
(Resigned 28 September 2023)
Doreen Rodgers
Una Simpson
Lorna Wilson
Jennifer Campbell
(Appointed 28 September 2023)
Wendy Ferris
(Appointed 28 September 2023)
Patricia Keys
(Appointed 28 September 2023)
Geraldine McLaughlin
(Appointed 28 September 2023)
Sadie Mulgrew
(Appointed 28 September 2023)
Dolores O'Brien
(Appointed 28 September 2023)

None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

ROE VALLEY RESIDENTS ASSOCIATION
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
Statement of trustees' responsibilities

The trustees, who are also the directors of Roe Valley Residents Association for the purpose 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 trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

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

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP;

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The trustees are responsible for keeping adequate accounting records that 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.

 

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

Auditor

In accordance with the company's articles, a resolution proposing that PFS & Partners be reappointed as auditor of the company will be put at a General Meeting.

The trustees' report was approved by the Board of Trustees.

Una Simpson
Jennifer Campbell
Trustee
Trustee
28 March 2024
ROE VALLEY RESIDENTS ASSOCIATION
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF ROE VALLEY RESIDENTS ASSOCIATION
- 8 -

Opinion

We have audited the financial statements of Roe Valley Residents Association (the ‘charity’) for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet, the statement of cash flows and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 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:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

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.

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 contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 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 course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act (Northern Ireland) 2008 require us to report to you if, in our opinion:

-

the information given in the financial statements is inconsistent in any material respect with the trustees' report; or

-

sufficient accounting records have not been kept; or

-

the financial statements are not in agreement with the accounting records; or

-

we have not received all the information and explanations we require for our audit.

ROE VALLEY RESIDENTS ASSOCIATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ROE VALLEY RESIDENTS ASSOCIATION
- 9 -
Responsibilities of trustees

As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose 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. 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 charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 65 of the Charities Act (Northern Ireland) 2008 and report in accordance with the Act and relevant regulations made or having effect thereunder.

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.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

We gained an understanding of the legal and regulatory framework applicable to the company and the industry in which it operates, and considered the risk of acts by the company that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

 

We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation, enquiries with management and enquiries of legal counsel. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

ROE VALLEY RESIDENTS ASSOCIATION
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ROE VALLEY RESIDENTS ASSOCIATION
- 10 -

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 8 of the Charities Act (Northern Ireland) 2008. Our audit work has been undertaken so that we might state to the charity's trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.

James Daniel Brolly (Senior Statutory Auditor)
for and on behalf of PFS & Partners Limited
28 March 2024
Chartered Certified Accountants
Statutory Auditor
16 Main Street
Limavady
BT49 0EU

PFS & Partners Limited is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

ROE VALLEY RESIDENTS ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2023
- 11 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
Year
Year
Year
Period
Period
Period
ended
ended
ended
ended
ended
ended
31 March
31 March
31 March
31 March
31 March
31 March
2023
2023
2023
2022
2022
2022
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
24,337
578,676
603,013
32,496
960,482
992,978
Charitable activities
4
12,934
-
12,934
54,241
-
54,241

Investments

5
57
-
57
17
-
17
Total income
37,328
578,676
616,004
86,754
960,482
1,047,236
Expenditure on:
Charitable activities
6
70,445
521,453
591,898
68,284
937,108
1,005,392
Net (outgoing)/incoming resources before transfers
(33,117)
57,223
24,106
18,470
23,374
41,844
Gross transfers between funds
59,871
(59,871)
-
-
-
-
Net income/(expenditure) for the year/
Net movement in funds
26,754
(2,648)
24,106
18,470
23,374
41,844
Fund balances at 1 April 2022
67,741
30,389
98,130
49,271
7,015
56,286
Fund balances at 31 March 2023
94,495
27,741
122,236
67,741
30,389
98,130

The statement of financial activities includes all gains and losses recognised in the year.

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

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
ROE VALLEY RESIDENTS ASSOCIATION
BALANCE SHEET
AS AT
31 MARCH 2023
31 March 2023
- 12 -
31 March
31 March
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
11
14,842
13,707
Current assets
Debtors
12
67,838
103,890
Cash at bank and in hand
62,917
79,421
130,755
183,311
Creditors: amounts falling due within one year
14
(23,361)
(98,888)
Net current assets
107,394
84,423
Total assets less current liabilities
122,236
98,130
Income funds
Restricted funds
15
27,741
30,389
Unrestricted funds
94,495
67,741
122,236
98,130

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2023, although an audit has been carried out under section 65 of the Charities Act (Northern Ireland) 2008.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements under the requirements of the Companies Act 2006, for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 28 March 2024
Una Simpson
Jennifer Campbell
Trustee
Trustee
Company registration number NI640837
ROE VALLEY RESIDENTS ASSOCIATION
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2023
- 13 -
2023
2022
Notes
£
£
£
£
Cash flows from operating activities
Cash generated from operations
19
32,315
34,106
Investing activities
Purchase of tangible fixed assets
(3,218)
(150)
Investment income received
57
15
Net cash used in investing activities
(3,161)
(135)
Net cash used in financing activities
-
-
Net increase in cash and cash equivalents
29,154
33,971
Cash and cash equivalents at beginning of year
32,771
(1,200)
Cash and cash equivalents at end of year
61,925
32,771
Relating to:
Cash at bank and in hand
62,917
79,421
Bank overdrafts included in creditors payable within one year
(995)
(46,650)
61,922
32,771
ROE VALLEY RESIDENTS ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 14 -
1
Accounting policies
Charity information

Roe Valley Residents Association is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 13-14 Keady Way, Limavady, BT49 0AU.

1.1
Reporting period

In the previous accounting period the reporting period was extended to 18 months to align the company year end with many of the funders' year ends. The comparative amounts are for 18 months, but the current year figures are for 12 months.

1.2
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum & Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 2019). The charity is a Public Benefit Entity as defined by FRS 102.

 

The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.5
Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
ROE VALLEY RESIDENTS ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 15 -
1.6
Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

 

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

1.7
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
10% reducing balance
Computers
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8
Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9
Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10
Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

ROE VALLEY RESIDENTS ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(Continued)
- 16 -
Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11
Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
Donations and gifts
24,337
-
24,337
32,496
-
32,496

RVRA

-
578,676
578,676
-
960,482
960,482
24,337
578,676
603,013
32,496
960,482
992,978
ROE VALLEY RESIDENTS ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
3
Income from donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2023
2023
2023
2022
2022
2022
£
£
£
£
£
£
(Continued)
- 17 -
Grants receivable for core activities
International Fund for Ireland
-
90,229
90,229
-
136,422
136,422
PEACE IV
-
46,188
46,188
-
268,281
268,281
Department for Communities
-
53,819
53,819
-
121,307
121,307
Education Authority
-
177,790
177,790
-
224,107
224,107
BBC Children in Need
-
28,117
28,117
-
41,867
41,867
The Executive Office
-
32,690
32,690
-
53,293
53,293
Causeway Coast and Glens BC
-
20,300
20,300
-
23,296
23,296
Public Health Agency
-
4,970
4,970
-
-
-
Youth Justice Agency
-
9,990
9,990
-
460
460
Community Foundation for NI
-
114,182
114,182
-
79,058
79,058
Other
-
401
401
-
12,391
12,391
-
578,676
578,676
-
960,482
960,482
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Community Projects
Other income
12,934
54,241
5
Income from investments
Unrestricted
Unrestricted
funds
funds
2023
2022
£
£
Interest receivable
57
17
ROE VALLEY RESIDENTS ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 18 -
6
Charitable activities

 

 

2023
2022
£
£
Community projects
585,778
998,612
Share of governance costs (see note 7)
6,120
6,780
591,898
1,005,392
Analysis by fund
Unrestricted funds
70,445
68,284
Restricted funds
521,453
937,108
591,898
1,005,392
7
Support costs allocated to activities
2023
2022
£
£
Governance costs
6,120
6,780
Analysed between:
Community Projects
6,120
6,780
2023
2022
Governance costs comprise:
£
£
Audit fees
3,600
3,600
Accountancy
2,520
3,180
6,120
6,780
8
Trustees

Gross trustee remuneration totalled £3,582 during the year, and 2 trustees were reimbursed a total of £945 for expenses incurred (2022- gross trustee remuneration totalled £26,209 during the 18 month period to 31 March 2022 and 4 trustees were reimbursed a total of £11,355 for expenses incurred).

9
Employees

The average monthly number of employees during the year was:

2023
2022
Number
Number
Administration
22
20
ROE VALLEY RESIDENTS ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
9
Employees
(Continued)
- 19 -
Employment costs
2023
2022
£
£
Wages and salaries
364,114
556,424
Other pension costs
6,498
9,908
370,612
566,332
There were no employees whose annual remuneration was more than £60,000.
10
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2022
14,502
7,545
22,047
Additions
3,218
-
3,218
At 31 March 2023
17,720
7,545
25,265
Depreciation and impairment
At 1 April 2022
3,943
4,396
8,339
Depreciation charged in the year
1,297
787
2,084
At 31 March 2023
5,240
5,183
10,423
Carrying amount
At 31 March 2023
12,480
2,362
14,842
At 31 March 2022
10,558
3,149
13,707
12
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
67,838
103,577
Other debtors
-
313
67,838
103,890
ROE VALLEY RESIDENTS ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 20 -
13
Loans and overdrafts
2023
2022
£
£
Bank overdrafts
995
46,650
Payable within one year
995
46,650
14
Creditors: amounts falling due within one year
2023
2022
Notes
£
£
Bank overdrafts
13
995
46,650
Other taxation and social security
6,350
8,833
Other creditors
-
3,839
Accruals and deferred income
16,016
39,566
23,361
98,888
15
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 April 2022
Incoming resources
Resources expended
Transfers
At 31 March 2023
£
£
£
£
£
The Executive Office
-
32,690
(29,712)
(2,978)
-
Public Health Agency
-
4,970
(4,970)
-
-
Youth Justice Agency
-
9,990
(9,990)
-
-
Causeway Coast and Glens BC
(14,400)
20,300
(5,900)
-
-
Education Authority
-
177,791
(177,791)
-
-
Department for Communities
1,740
53,819
(48,947)
(6,612)
-
Children in Need
-
28,117
(28,117)
-
-
PEACE IV
(7,291)
46,188
(855)
(38,042)
-
Community Foundation for NI
50,340
114,182
(129,346)
(7,635)
27,541
International Fund for Ireland
-
90,229
(85,625)
(4,604)
-
Various small grants
-
400
(200)
-
200
30,389
578,676
(521,453)
(59,871)
27,741
ROE VALLEY RESIDENTS ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
15
Restricted funds
(Continued)
- 21 -
Previous 18 Month Period:
At 1 April 2021
Incoming resources
Resources expended
Transfers
At 31 March 2022
£
£
£
£
£
Causeway Coast and Glens BC
(1,121)
23,296
(36,575)
-
(14,400)
Education Authority
18,092
224,107
(242,199)
-
-
Department for Communities
396
121,307
(119,963)
-
1,740
Spirit of Limavady
(18)
53,293
(53,275)
-
-
Personal Youth Development Programme
268
136,422
(136,690)
-
-
Children in Need
(1,113)
41,867
(40,754)
-
-
Awards for All
1,694
-
(1,694)
-
-
PEACE IV
(12,059)
268,282
(263,514)
-
(7,291)
Community Foundation for NI
-
79,058
(28,718)
-
50,340
Various small grants
876
12,850
(13,726)
-
-
7,015
960,482
(937,108)
-
30,389
16
Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 April 2022
Incoming resources
Resources expended
Transfers
At 31 March 2023
£
£
£
£
£
General funds
67,741
37,328
(70,445)
59,871
94,495
Previous 18 Month Period:
At 1 April 2021
Incoming resources
Resources expended
Transfers
At 31 March 2022
£
£
£
£
£
General funds
49,271
86,754
(68,284)
-
67,741
17
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
Fund balances at 31 March 2023 are represented by:
Tangible assets
14,842
-
14,842
Current assets/(liabilities)
79,653
27,741
107,394
94,495
27,741
122,236
ROE VALLEY RESIDENTS ASSOCIATION
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
17
Analysis of net assets between funds
(Continued)
- 22 -
Unrestricted
Restricted
Total
funds
funds
2022
2022
2022
£
£
£
Fund balances at 31 March 2022 are represented by:
Tangible assets
13,707
-
13,707
Current assets/(liabilities)
54,034
30,389
84,423
67,741
30,389
98,130
18
Related party transactions

There were no disclosable related party transactions during the year (2022 - none).

19
Cash generated from operations
2023
2022
£
£
Surplus for the year
24,106
41,844
Adjustments for:
Investment income recognised in statement of financial activities
(57)
(17)
Depreciation and impairment of tangible fixed assets
2,084
2,206
Movements in working capital:
Decrease/(increase) in debtors
36,054
(36,511)
(Decrease)/increase in creditors
(29,872)
26,584
Cash generated from operations
32,315
34,106
2023-03-312022-04-01falseCCH SoftwareiXBRL Review & Tag 2022.2NI6408372022-04-012023-03-31NI640837bus:Director12022-04-012023-03-31NI640837bus:Director32022-04-012023-03-31NI640837bus:Director42022-04-012023-03-31NI640837bus:Director92022-04-012023-03-31NI640837bus:Director102022-04-012023-03-31NI640837bus:Director112022-04-012023-03-31NI640837bus:Director122022-04-012023-03-31NI640837bus:Director132022-04-012023-03-31NI640837bus:Director142022-04-012023-03-31NI640837bus:Director152022-04-012023-03-31NI640837bus:Director162022-04-012023-03-31NI640837bus:Director172022-04-012023-03-31NI640837bus:Director22022-04-012023-03-31NI640837bus:Director52022-04-012023-03-31NI640837bus:Director62022-04-012023-03-31NI640837bus:Director72022-04-012023-03-31NI640837bus:Director82022-04-012023-03-31NI6408372023-03-31NI6408372022-03-31NI6408372020-10-012022-03-31NI640837bus:FRS1022022-04-012023-03-31NI640837bus:Audited2022-04-012023-03-31NI640837bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP