The trustees present their annual report and financial statements for the year ended 30 April 2024.
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 charitable company's Memorandum and 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).
The objectives of the charitable company are set out in the Memorandum and Articles of Association of Edenvilla Limited. The main purpose is to maintain and develop property and facilities for recreation and to promote the benefit of the inhabitants of Portadown and its environs.
The trustees have paid due regard to guidance issued by the Charity Commission for Northern Ireland in deciding what activities the charitable company should undertake.
The trustees are satisfied with the results for the year, taking into account the lack of available slots for hiring the pitch out during school hours and most evenings and weekends. During the year there was further repairs to the changing rooms, due to flood damage which occurred in December 2022. The cost of these repairs was reimbursed from insurance proceeds. Costs from repairs to aging equipment, such as the generator and the floodlights, have also substantially increased, as have ongoing utility costs.
The charitable company was in negotiation about the financial support from the Service Level Agreement with Armagh City, Banbridge and Craigavon Council (ABC Council). The Council contributes £10,000 per year towards running costs but this no longer covers the costs of annual maintenance of the facility. Education Authority NI and Craigavon Senior High School do not contribute any financial support to the upkeep of the facilities. A case for a significant increase will be made again to ABC Council next year.
Alan Smith held the position of groundskeeper during the year and provided an excellent service.
A part time community engagement worker, Pamela Smith, continued to promote Edenvilla in the district and surrounding area, with new clients including Ridgeway Mill Youth and Fun Football Factory hiring the facility on a weekly basis.
Edenvilla Ltd also became a cashless enterprise with the purchase of a Sum Up card reader to support the existing use of online bank transfers.
The charitable company's financial results are set out in detail on pages 6 to 16.
There is an overall deficit on funds this year of £8,835 (2023 - £5,674 surplus). The trustees are continuing to investigate making savings and trying to generate additional income.
The accumulated funds (unrestricted and restricted) now stand at £64,750. In view of the steep rising cost of diesel and electricity, the trustees have decided to increase the charges for floodlights, but keep the pitch hire rates the same.
The charitable company is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 29 May 1998 and as updated on 14 November 2001.
The trustees who served during the year and up to the date of signature of the financial statements were:
The trustees of the charitable company are also directors for the purposes of company law. Under the requirement of the Memorandum and Articles of Association, all the members of the Board of Directors retire at the Annual General Meeting. The number of directors should be between six and thirteen. Directors are normally nominated on the following basis:
- One representative from Education Authority, Southern Region (EA);
- Two nominated members of Portadown Men's Hockey Club; and
- Two nominated members of Portadown Ladies Hockey Club.
None of the directors have any beneficial interest in the charitable company. In the event of the charitable company being wound up, members are required to contribute an amount not exceeding £1.
Organisation
The trustees administer the charitable company and oversee the day to day running of the complex. The Board meets approximately 5/6 times per year. There are two part time employees, a caretaker/groundsman and a community engagement worker. There is also a small number of volunteers who are responsible for administration and bookings.
The level of reserves is reviewed annually and is built up to the desired level in stages consistent with the charitable company's overall financial position and its need to maintain its charitable activities.
The trustees have examined the charitable company's requirements for reserves in relation to general maintenance and replacement of the synthetic playing surface in approximately 2 years, the previous surface having been replaced in 2010.
The trustees had considered that the ideal level of cash held at bank by this time should be £80,000 as Edenvilla's contribution to pitch replacement. They now believe that the charitable company reserves will not reach this level within the next two years, based on current income streams. The ambitions of the hockey club teams to play at a higher level also mean a higher standard of pitch replacement would be required, thereby likely doubling the funding required. Trustees are reaching out to partners in EANI and ABC Council for support and sourcing additional grant funding for the pitch replacement.
At the balance sheet date, unrestricted reserves amounted to £61,110 of which £38,669 is held at bank and cash in hand.
The main priority is to continue managing the facility in an efficient manner for the benefit of the local community.
The trustees have begun work on a 10 year development plan which includes a section on reducing costs and improving our environmental performance, through more efficient use of floodlighting, as well as exploring facility improvements which could generate some of the additional income required for the future pitch refurbishment e.g. a small training pitch; a community meeting space and coffee dock. Funding for these improvements, as well as any upgrades in machinery will rely on either increased revenue support or grant funding.
In preparing this report, the trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
Registered Office:
Edenvilla Park
Bachelors Walk
Portadown
Craigavon
Co Armagh
BT63 5BQ
Company Registration No: NI038596
Charity Registration No: NIC 102431
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Edenvilla Limited for the year ended 30 April 2024.
As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
It is my responsibility to:-
examine the financial statements under section 65 of the Charties Act;
follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Act; and
state whether particular matters have come to my attention.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charitable company as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Edenvilla Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Edenvilla Park, Bachelors Walk, Portadown, Craigavon, Co Armagh, BT63 5BQ.
The financial statements have been prepared in accordance with the charitable company's governing document, 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)” (as amended for accounting periods commencing from 1 January 2019). The charitable company is a Public Benefit Entity as defined by FRS 102.
The charitable company has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. 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.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company 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.
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.
Cash donations are recognised on receipt. Other donations are recognised once the charitable company 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.
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.
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 allocated on the portion of the asset's use.
All expenditure is inclusive of irrecoverable VAT.
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:
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.
At each reporting end date, the charitable company 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).
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.
The charitable company 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 charitable company's balance sheet when the charitable company 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, 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.
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.
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
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 charitable company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
In the application of the charity’s accounting policies, the directors 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.
The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The trustees regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful lives is included in the accounting policies.
Donated goods, facilities and services
Unrestricted funds
Restricted funds
Loss on disposal of fixed asset
Coffee machine rental and supplies
No remuneration or benefit for trustees arose in the year (2023 - none).
The average monthly number of employees during the year was:
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
There were no disclosable related party transactions during the year (2023 - none).
Restricted
Unrestricted
Restricted
Unrestricted