Company Registration NuFnber N1027893
Charity Registration Number 100133
Moygashel Community Development Assoclation Limlted
(Charitable Company Limited by Guarantee)
Annu31 Report & Unaudited Financial Statements
For the Year Ended 30 November 2020
CavanaghKelly
Chartered Accountants & Statutory Auditors
36 - 38 Northland Row
Dungannon
BT71 6AP

ashel
OFnmunit
itable Com
velo
ment Asso
Limited b Guarantee
Ch
CONTENTS
For the
ear ended 3
02
Page
General infomation
Dlrectors. Report
Independent Examinerfs Report
Statement of Financial Activities
statement of Financial Position
9-10
Notes to the Financlal Statements
11- 17
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page I

shel Communi
"table Com
Develo
ent Asso
Limited b Guarantee
ted
GENERAL INFO
Board of Directors
JJ Cavanagh
Ann Kerr
Kenneth Maginnis
Hilda Orr
Wllliam Oliver Ross
Margaret Parke (Resigned 3010612021)
Thomas Forsythe (Resigned 3010612021)
Company Secretary
William Oliver Ross
Company Registration Number
N1027893
Charity Reglstration Number
100133
Registered Office
C/0 Simmons Meglaughlin & Orr Solicltors
20 Northland Row
Dungannon
Co. Tyrone
BT71 6BL
Independent Examiners
CavanaghKelly
Chartered Accountsnts
36-38 Northland Row
Dungannon
Co. Tyrone
8T71 6AP
Bankers
Danske Bank
5 Market Square
Dungannon
Co. Tyrone
BT70 IAB
Solicltors
Simmons Meglaughlin & Orr
20 Northland Row
Dungannon
Co. Tyrone
8T71 6BL
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 2

ashel Communi
Charitable Com
Dav
Limi
ssoeia
ante
DI
S. REP
rthe
ear ended 30 November 2020
The Direttors, who are the trustees for the pury)ose of charity law, have pleasure in presenting
their report and the unaudited financial statements of the charitable company for the year ended
30 November 2020.
The financial statements have been prepa￿d in accordance with the Statement of Recommended
Practice °Accounting and Reporting by Charities. (FRS 102), Unlted Klngdom Generally Accepted
Accounting Practice and the Companies Art 2006.
Reference and Administration Detalls
The reference and administration details of the tharitable company are as shown on page 2.
Obje¢tive5 and Activities
Objectives
The objective of the charitable company is the promotlon for the publlc beneflt of rurdl
regeneration in areas of social and economic deprivation and in partlcular the area of Moygashel
and dlstrid.
Actlvltles
The company's artlvitles include the prnmotion of job opportunities and industrial projetts,
enterprtses and inltiatives wlth the objertive of providing employment and improving the quality
of life; undetsking projects of a community nature within the area in the interest of Social
welfare for employment, recreatlon and leisure time occupation for those living or working in or
resorting to the area,. promoting and encouraging social integration in the area. and providing
housing including social and sheltered houslng to persons in need of such.
Publlc Benefit statement
The Dlrertors of Moygashel Community Developrnent A$500ation Llmlted confirm that they have
complled with their duty under section 4{6) of the Charities Act (Northern Ireland) 2008 to have
regard to the Charity Commission for Northem Ireland'5 guidan￿ on public beneffit and that the
public benefit requirement ha5 infonned the activitle5 of the charltable company In the year
ended 30 November 2020.
Achlevements and Performance
After developlng the old, derelitt Moygashel factory into the Linen Green shopping centre and its
onward sale, the company Is seeklng to use it5 current fund5 for the provision of housing.
Flnancial Revlew
Flnanclal Performance
The financial performance was In line with the Oirectorfs expectations. The charftable company
remalns in a sound ftnanciol positlon at the year end. The results for the year a￿ Set out In detail
on page5 8 to 17. The charitable company returned net outgoing reSoUr￿S for the year of E4,734
(2019 outgolng resources of £2,610).
At 30 November 2020. the totsl funds of the charitable company amounted to £964,523 12019
E969,257) cornprislng erttirely of Un￿$trItted funds. Principal sources of funding and how thi5 has
supported the key objectives of the charftable company are disdosed in the notes to the financial
statements.
CavanaghKellyi Chartered Accountants & Statstory Auditors
Page 3

shel Communit Develo
rnent Associati
abl Com
Limited b Guarantee
Chari
DIRECTORS, REPORT for
ènd
nued
Financial Review (Continued)
Reserves Policy
The charitable company does not maintain a formal reseNes pollcy however the Board of
Dlrectors continue to monitor the level of reseNes held by the charitable company and are
satisfied that these are adequate to meet any Unfo￿$een expenditure Incurre(l.
structure, Governance and Management
Organisational Strurture
The charitable company is a company limited by guarantee, not having a share capltal.
The charitable company was established under a Memorandum of Association whlch established
the objects and powers of the chaiitable company and is govemed under Its Artlcles of
Assoclatlon.
In accordance wlth the Artldes of Association. the mernbers to ￿tire by rotation shall be those
who have been longest In office Since thelr last election, and the relevant motion will be put at
the Annual General Meeting. A retirfing member shall be eligible for re-election.
Directors
The Directors during the year are the same as the Direttors as listed on page 2.
Taxation Status
The charitable company is recognlsed as a charity by HM Revenue & Customs. Accordlngly, the
charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporatlon
Taxes Act 2010 and Settion 256 Taxatlon of Charyeable Gain5 Act 1992.
Directors, Responsibllltles
The Directors are responsible for preparing the financial statements in accordance with applicable
law and United Klngdom Accountlng Standards (United Kingdom Generally Accepted Accounting
Practice).
Company law requires the Director5 to prepare financial Statements for each financial year which
give a true and fair view of the state of the affairs of the charitable company and of the incoming
resource5 and application of resources, including the income and expendlture, of the charitable
company for that year. In preparing these financial statements the Dlrectors a￿ required to:
select suitable accounting policie5 and apply them con5iStentlyi
observe the methods and principles in the Charities SORP {FRS 102);
make Judgements and estlmates that are reasonable and prudent;
state whether appllcable UK Accounting Standard5 have been followed, subject to any materlal
departures ¢Jlsclosed and explained in the financial statements; and
prepare the flnancial statements on the going concem basi5 unless It Is Inappropriate to
presume that the charitable company will continue in operation,
The Directors are respon51ble for keeplng adequate accounting records that disclose with
reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking
reasonable steps for the prevention and detectlon of fraud and other Irregularities.
avanaghKellyi Chartered Accountants & Statutory Auditors
Page 4

Mo
ashel
Charitable Com
en
tion Limited
an
DI
OR5. REPORT for the
ear ended 30 N
020
Small Companies Exemption
The above report has been prepared in accordance with the speclal provlslons relatlng to small
companles within Part 15 of the Companie5 Act 20D6.
Thls report was approved by the Board of Directors 2310812021 and signed on Its behalf by:
William Oliver Ross
Director
Com
hari
an
Re
istration Numb
Re
istration Num
Io
789
33
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 5

ashel Communit Develo
ment Association Limited
Charita
ecom
Limited b Guarantee
INDEPENDENT EXAMINER'S
statements of Mo
a5hel Comm
ended 30 Nov
mber Z020
he m
Ited f Inan
ia
We report on the financial statements of the company for the year ended 30 November 2020
whlch are set out on pages 8 to 17.
Respectlve Responsibilities of Directors and Independent Examiner
As the charitable company'5 Directors, who are the tru5tee5 for the purpose of charlty law, you
are responslble for the preparation of the financial 5tatement5 in accordance wlth the
requlrements of the Companies Act 2006. Having satisfied ourselve5 that the charitable company
Is not subject to audit under company law, and is eligible for independent examination, It Is our
responslblllty to:
examlne the accounts under section 65 of the Charities Art {Northem Ireland) 2008-
follow the procedures lald down irF the general Directions given by the Charity Commission
for Northern [￿lartd under sectlon 65(9){b) of the Charities Act (Northem Ireland) 2008;
and
state whether partlcular matters have come to our attention.
Basis of Independent Examiner's Report
We have examlned your charitable company's flnancial statements as requlred under section 65
of the Charities Act (Northem Ireland) 2008 and our examlnation was carried out In accordance
with the general Directlons given by the Charity Commission for Northem Ireland under section
65(9)(b) of the Charities Act (Northern Ireland) 2008. The examination included a revSew of the
accounting records kept by the charitable cornpany and a comparison of the account5 presented
wlth those records. It also includes consideration of any unusual item5 or disclosures in the
accounts, and seeking explanations from you as charitable company Directors concerning any
such matters.
Our role Is to state whether any material matters have come to our attention giving us cause to
believe..
That accountlng records were not kept In acctydance wlth sectlon 386 of the Companies
Act 2006; or
That the accounts do not accord with those accountlng records; or
That the accounts do not cornply with the accounting requirements of sectlon 396 of the
Companies Act 2006 and with the methods and princlples of the Charitie5 Statement of
Recommended Practice applicable to charities preparing their accounts In accordance with
the Yinancial Reporting Standard applicable in the UK and Republic of Ireland. or
That there Is further infomiation needed for a proper understanding of the accounts to be
reached.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 6

ashel Communi
Char
Com
Oevelo
ment Associa
Limited b Guarantee
INDEPENDENT EXA
statement
ended
RE
th
on the unaudited financial
ment Association Limited for the
ear
ash
unl
bér
Independent Examlner's Statement
We have cornpleted our examinatlon and have no concems in respert of the matters listed above
and, in connertion wlth following the Dlrert5on5 of the Charity commi￿40n for Northern Ireland,
we have found no matters that require drawlng to your attentlon.
CavanaghKelly
Chartered Accountants & Statutory Auditor5
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
Date: 2310812021
CavanaghKellyi Chartered Accountants & Ststutory Auditors
Page 7

ni
Devolo
ment Association Limited
Limited b Guarantee
bl
STATEMENT OF FINANCIAL Acri
Includrn
an income & ex
enditur
For th
ear ended
O November 2
Unrestricted Restrlcted
Funds
Funds
Total
Funds
Total
Funds
2020
2020
2020
2019
INCOME AND ENDOWMENTS
Income from Investments {Note 3)
TOTAL INCOME AND
ENDOWMENTS
RESOURCES EXPENDED
Charitable Activities {Note 4)
TOTAL RESOURCES EXPENDED
(4,734)
(4,734)
(4,734)
(4.734)
(2,610)
{2,610)
Net Incoming/{outgoing)
resources for the year
(4,734)
14.734)
{2,610)
Trdnsfers between fund5
Total funds brought forward
969,257
969,257
971,867
Total funds carried forward
964 523
964 523
969 257
The above Statement of Financial Activities includes all informatlon as required to be dlsclosed by
the Companies Att 2006.
All of the artivities of the charftable company are dassed as continuing.
The Statement of Flnanclal Artivities indudes all gains and losses recognised during the year.
The notes on pages 11 to 17 form an integral part of the finanaal statements.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 8

ashel Communi
Chari
able Com
Develo
ment
Limited b Guarantee
nLi
STATEMENT OF FINA
ber 2020
Note
2020
2019
Fixed Assets
Propertyi plant and equipment
867 438
202 846
Current Assets
Receivable5
Cash and cash equivalents
1.494
117 591
119.085
204
769 207
769,411
Payables: Amounts falling due wlthln in one
year
io
Net current assets
964 523
969 257
REPRESENTED BY:
Unrestricted funds
Restricted funds
Total Funds
li
li
964,523
969,257
964 523
969 257
The Directors, statements shown on the followlng page forni part of this Statement of Financial
Position.
CavanaghKellyi Chartered Accountants & Statutory Audltors
Page 9

el Commun
abl
om
Develo
ment Association
Limited b Guarantee
Chari
STATEMENT OF FIN
at
er 2020
Continued
These financial statements have been prepared in accordance with the provisions applicable to
small companie5 reglme withln Part 15 of the Companies Act 2006.
For the financial year ended 30 November 2020 the company was entitled to exemption from
audit under section 477 of the Companies Act 2006.
The Directors confirm that the members have not requlred the company to obtaln an audit of its
flnancial statements for the year in questlon In accordance wlth settion 476 of the Companies Act
2006.
The Dlrettors acknowledge their responsibilities for ensuring that the charitable company keeps
accountlng records which comply with Section 386; and for preparing financlal statements whlch
glve a true and falr view of the state of affalrs of the charitable company as at the end of the
finandal year and of its incoming or outgoing resour￿5 for the financial year in accordance with
the requirements of sertions 394 and 395 and which othernise comply with the requ1￿ments of
the Companles Act 2006 relating to financial Statements, so far as applicable to the charitable
company.
The notes on pages 11 to 17 form an integrnl part of the financial statements.
The financial statements were approved and authorised for issue by the Board of Direttots on
2310812021 and slgned on thelr behalf by:
Willlam Oliver Ros$
Director
Com
hari
tra
mber: N1027893
mb
33
str
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 10

ashel Communit Develo
ent Associ
aritable Com
Limit
b Guarante
ed
NOTES TO T
Forth
ar ended
IAL
GENERAL INFORMATION
Moygashel Community Development As50flation Limlted Is a charitable company Ilmlted by
guarantee incorporated in Northern Ireland. In the event of the charStable company belng wound
Upi the liability in respect of the guarantee is Ilmlted to an amounf not eX￿eding £2 per member
of the charitable company. The address of the reglstered office is as shown on page 2.
The charitable company constltutes a public beneflt entity as deflned by FRS 102.
ACCOUNTING POLICIES
The following accounting policies have been applled consistently In deallng wlth Items whlch are
consldered material in relation to the charitable companvs financial statements,
Statement of Compliance
The nnancial statements have been prepared in accordantr with Accounting and Reporting
by Charites: Statement of Recommended Practi￿ (SORP) applicable to charities preparing
their financial Statements In accordance with the Finanoal Reporting Standard applicable in
the UK and Republic of Ireland (FRS ID2) effective l January 2019 (Second Edition), the
Financial ReportSng Standard appllcable in the United Kingdom and Republic of Ireland (FRS
102) and the Companles Act 2006.
Basis of Preparation
The flnancial statements are prepared on a going concem basls under the hi5torlcal cost
convention unless otherwise stated in the relevant accountlng policy. Historical cost Ss
generally based on the fair value of the consideratlon given in exchange for assets. The
followlng accounting policies have been applied consistently in dealing with Items whlch are
consldered material In relation to the charitable company's financial statement5,
Cash Flow Statement
The charitsble company has applled Update Bulletln 2 as published on 5th October 2018
(effettive l January 2019) and does not Include a cash flow statement on the grounds that
It is applying FRS 102 Section IA.
Income and EndowmeThts
(l) Investment Income
Income from Investment activities includes interest and dlvldends earned on
investments. It Is recognised as eamed.
CavanaghKellyK Chartered AccountaTrts & Stathtory Audttors
Page 11

ashel Comm
Charitable Com
el
ocia
Lim
ar
TE
FIN
ATEMENTS
er 2020
Continued
30N
ve
ACCOUNTING POLICIES (Continued)
Expenditure
Expenditure Is recognlsed when a liability Is incurred. Where costs cannot be directly
attributed to a partlcular heading, they have been allocated to activitie5 on a basis
cons1Stent wlth use of resources.
(i) Charitable Activities
This comprises all the resources applled by the charitable company In undertaking its
work to meet its charitable objertives. Chadtable artivities will Include the costs of
governance arrangements whlch ￿late to the general running of the charitable
company.
Fund Accounting
The charitable company has two type5 of funds for which it Is responslble at the year end:
Unrestrlcted funds - Funds which are expendable at the discretion of the Dlrettors In
furtherance of the objectives of the charitable company. In additions. funds may be
held In order to finance capital investment and working capital.
Restricted funds - Income received for specific purposes. Such purposes are within
the overall aim5 of the charitable company.
Investment Propertv
Investment property is carried at fair value detemiined annually and derlved from the
current market rents and investment property yields for comparable real estate,
adjusted, If necessary* for any difference in the nature, location or condition of the
5peclflc asset. No depreciation is provided. Changes in fair value are recognised in the
statement of flnancial attivities.
Trade and Other Receivables
Trade and other recelvables a￿ inltially recorded at fair value and thereafter stated at cost
less irnpairment losses for bad and doubtful debts.
Trade and Other Payables
Trade and other payables are initially recognlsed at fair value and thereafter stated at cost.
Taxation
As a charlty, the charltable company is not liable to Corporation Tax.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 12

ashel Cornmuni
arl
ble Com
an
Develo
ment Associa
Limited b Guarantee
NOTES TO T
For the
ear end
ci
ENT
ed
2. ACCOUNTXNG POLICIES (Contlnued)
2.10.
Finance Costs
Flnante costs are charged to the statement of finandal attlvlties over the term of the debt.
2.11. Cash and Cash Equivalents
Cash and cash equivalents indudes cash in hand, deposits held at call wlth banks, other
short term highly liquid investments wlth orioinal maturltles of th￿e months or less
2.11. Financial Instruments
(l) Nnancial assets
Baslc financlal assets, induljing trade and other receivables, cash and bank balan￿$ and
amounts owed by related parties and are initially recognised at transaction price, unles5 the
arrangement constltutes a financing transaction. where the transartion is measured at the
present value of the future receipts discounted at a rnarket rate of interest. Such asset5 are
subsequently carrled at amortised cost using the effective interest method.
At the end of each reporting pertod financial assets measured at amortised cost are
assessed for objective evidence of Impaimient. If an asset is impaired the impairment loss
is the difference between the carrying amount and the present value of the estimated cash
flows discounted at the asset's original effectlve Interest rate. The Impalrment Ioss 15
recognised in profit or loss.
If there is decrease in the impairnient loss arising from an event occurring after the
Impairment was recognised, the impaimient is reversed. The reversal is such that the
current carrying amount does not ex￿ed what the carrylng amount would have been had
the Impalmient not previously been recognised. The impairment reversal 55 recoynised in
profit or loss.
Financial a55ets are derecognised when (a) the contractual rights to the cash flow5 from the
asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of
the asset are transferred to another party or (c) desplte having retajned some signifficant
risks and reward5 of ownershlp. control of the asset has been transferred to another party
who has the practical ability to unilaterally sell the asset to an unrelated thlrd party wlthout
imposing additional restrictions.
(11) Flnanclal IlabS1ities
Basic flnanclal Ilabllltles, Including trade and other payables, bank loans and overdrafts and
arnounts owed to related parties are initially recognised at transactlon prlce, unless the
arrangement constitutes a financing transaction, where the debt instrument Is meaSU￿d at
the present value of the future receipts discounted at a market rate of interest. Debt
instruments are subsequently carried at amortised cost, uslng the effective Interest rate
rnethod.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 13

Mo
ashel Communit Develo
ment As
Charitable Com
an
Limit
b Guarante
te
OTES T
For the
NT
ear
ov
IL
2. ACCOUNTZNG POLICIES (Continued)
Fees paid on the establishment of loan facilities are recognised as transaction costs of the
loan to the extent that it is probable that Some or all of the facility will be drawn down. In
thi5 case, the fee Is deferred until the draw-down occurs.
To the extent there Is no evldence that It is probable that some or all of the facility will be
drawn down, the fee Is capitalised as a pre-payment for liquldlty servlces and amortised
over the period of the facility to which it relates.
Trade payables are obligations to pay for goods or seNlces that have been acqulred In the
ordlnary course of business from suppliers. Accounts payable are classified as current
liabilities if payment is due within c*ne year or less. If not, they are presented as non-current
Ilabilities.
Trade payables are recognised initially at transaction price and Subsequently measured at
amortised cost uslng the effettive interest method.
Financlal Ilabllities are derecognised when the liability is extinguished, that Is when the
contractual obligation 15 dlscharged, cancelled or expires.
{lii) Offsettlng
Financial assets and liablllties are offset, and the net amounts presented In the financial
statements when there 15 a legally enforceable right to set off the recognlsed amounts and
there is an intention to settle on a net basis or to reallse the asset and settle the Ilability
Simultaneously.
INCOME AND ENDOWMENTS
Unrestricted Restricted
Fund5
Funds
2020
2020
Total
Funds
2020
Total
Funds
2019
Charitable Activttie5
Investment income
Total Income and Endowments
Income from Charitable Attivities in the year ended 30 November 2019 was nll.
CavanaghKelly* Chartered A¢¢ountants & Statutory Auditors
Page 14

sh I Communi
rita
an
Develo
ment Assoctation Limi
Limited b Guarantee
NOTES TO THE FINAN
For the
ear
nded 30 Nov
EME
tinu
RESOURCES EXPENDED
Unrestricted Restrlrted
Funds
Funds
2020
2020
Total
Funds
2020
Total
Funds
2019
Charltable Actlvltles
Independent Examinerfs
RemLFneratlon
Bank Entere5t & Charyes
Insurance
Total Resources Expended
3,134
3,134
2,460
150
150
150
Expenditure on Charitsble Activlties in the year ended 30 November 2Q19 of E2,610 was made up
of entirely unrestrtcted funds.
NET INCOME/(EXPENDITURE) FOR THE YEAR
Net Income/{expenditure) is stated after charging/(crediting):
2020
2019
Independent Examinerfs remuneration
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 15

Mo
ashel Communi
Charitable Com
Develo
Limited b
ment Association L"
uarantee
NOTES TO THE
For the Year Ended
ATE
6. INDEPENDENT EXAMINER'S REMUNERATION
2020
2019
Independent examinerf5 remuneration
Independent examinerfs services
7. sfAFF COSTS AND EMPLOYEE BENEFITS
The average number of persons employed by the charitable company during the year was nil.
{2019: NIL)
7.1. DIREcfoRS' REMUNERATION
The Directors received nor waived any remunerntion OT any other beneflts durlng the year and no
reimbursement of expenses incurred.
8. INVESTMENT PROPERTY
Investment
Property
Total
Cost
At 30 November 2019
Addition5
Disposals
At 30 November 2020
202,846
664,592
202.846
664,592
867,438
867,438
Depreclatlon
At 30 November 2019
Charge for year
Disposa15
At 30 November 2020
Carrylng amount
At 30 November 2020
867,438
867,438
At 30 November 2019
202,846
202,846
CavanaghKellyrt Chartered Accountants & Statutory Auditors
Page 16

ashel Communtt Develo
ment Association Limited
Charl
ble Com
Limited b Guarantee
NOTES TO THE FIN
r the Year End d
ENT
20
9. RECEIVABLES
2020
2019
Trade receivables
VAT
42
42
162
204
10. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2020
2019
Accruals and deferred income
Other Payables
3,000
3,000
11. ANALYSIS OF NEf ASSETS
Unrestricted
Funds
2020
Restrlcted
Funds
2020
Total
Funds
2020
Total
FLsnds
2019
Flxed Assets
Current Assets
Current Liabilities
867,438
119,085
867,438
119,085
202,846
769,411
964 523
964 523
969 257
12. ANALYSIS OF FUNDS
Unrestrlrted Restricted
Funds
Funds
2020
2020
Total
Funds
2020
Total
Funds
2019
Openlng balance
Net Incomlngl(outgolng)
resources
Transfer between funds
Closlng balance
969,257
(4,734)
969,257
(4,734)
971,867
{2,610}
964 523
964 $23
969 257
CavanaghKellyr Chartered Accountants & Statutory Auditors
Page 17