Mo
ashel Cornmunit Develo
ment Association Limited
Charitable Com
Limited b Guarantee
Company Registration Number N1027893
Charity Registration Number 100133
Moygashel Community Development Association Limited
(Charitable Company Limited by Guarantee)
Annual Report & Unaudited Financial Statements
For the Year Ended 30 November 2023
CavanaghKellv
Chartered Accountants & Statutory Auditors
36 - 38 Northland Row
Dungannon
BT71 6AP

Mo
ashel Communi
Charitable C
an
Develo
ment Association Limited
Limited b Guarantee
CONTENTS
For the
ear ended 30 Nov
mb r 2023
Page
General Information
Directors, Report
Independent Examinerfs Report
statement of Financial Activities
Statement of Financial Position
9-10
Notes to the Financial Statements
11-17
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page I

Mo
ashel Communit Develo
ment Association Limited
Charitable Com
Limited b Guarantee
ENERAL INFORMATION
Board of Directors
JJ Cavanagh
Ann Kerr
Kenneth Maginnis
Hilda Orr
William Oliver Ross
Company Secretary
William Oliver Ross
Company Registration Number
N1027893
Charity Registration Number
100133
Registered Office
C/0 Simmons Meglaughlin & Orr Solicitors
20 Northland Row
Dungannon
Co. Tyrone
BT71 6BL
Independent Examiners
CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT716AP
Bankers
Danske Bank
5 Market Square
Dungannon
Co. Tyrone
BT70 IAB
Solicitors
Simmons Meglaughlin & Orr
20 Northland Row
Dungannon
Co. Tyrone
BT71 6BL
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 2

Mo
ashel Communit Develo
ment Association Limited
Charitable Com
an
Limited b Guarantee
DIRECTORS, REPORT for the
ear ended 30 Novemb r 2023
The Directors, who are the trustees for the purpose of charity law, have pleasure in presenting
their report and the unaudited financial statements of the charitable company for the year ended
30 November 2023.
The financial statements have been prepared in accordance with the Statement of
Recommended Practice "Accounting and Reporting by Charities" (FRS 102), United Kingdom
Generally Accepted Accounting Practice and the Companies Act 2006.
Reference and Administration Details
The reference and administration details of the charitable company are as shown on page 2.
Objectives and Activities
Objertives
The objective of the charitable company is the promotion for the public benefit of rural
generation in areas of social and economic deprivation and in particular the area of Moygashel
and district.
Activities
The company's activities include the promotion of job opportunities and industrial projects,
enterprises and initiatives with the objective of providing employment and improving the quality
of life. undertaking projects of a community nature within the area in the interest of social
welfare for employment, recreation 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 housing to persons in need of such.
Public Benefit Statement
The Directors of Moygashel Community Oevelopment Association Limited confirm that they have
complied with their duty under section 4(6) of the Charities Act (Northern Ireland) 2008 to have
regard to the Charity Commission for Northern Ireland's guidance on public benefit and that the
public benefit requirement has informed the activities of the charitable company in the year
ended 30 November 2023.
Achievements and Performance
After developing the old, derelict Moygashel factory into the Linen Green shopping centre and
its onward sale, the company is seeking to use its current funds for the provision of housing.
Financial Review
Financial Performance
The financial performance was in line with the Director's expectations. The charitable company
remains in a sound financial position at the year end. The results for the year are set out in
detail on pages 8 to 17. The charitable company returned net outgoing resources for the year
of £78,946 (2022
incoming resources of £53,265).
At 30 November 2023, the total funds of the charitable company amounted to £847,260 (2022
£926,206) comprising entirely of unrestricted funds. Principal sources of funding and how this
has supported the key objectives of the charitable company are disclosed in the notes to the
financial statements.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 3

Mo
ashel Communit Develo
ment Association Limited
Charitable Com
an
Limited b Guarantee
DIRECTORS, REPORT for th
ar ended 30 November 2023
ed
Financial Review (Continued)
Reserves Policy
The charitable company does not maintain a formal reserves policy however the Board of
Directors continue to monitor the level of reserves held by the charitable company and are
satisfied that these are adequate to meet any unforeseen expenditure incurred.
Structure, Governance and Management
Oryanisational Structure
The charitable company is a company limited by guarantee, not having a share capital.
The charitable company was established under a Memorandum of Association which established
the objects and powers of the charitable company and is governed under its Articles of
Association.
In accordance with the Articles of Association, the members to retire by rotation shall be those
who have been longest in office since their last election, and the relevant motion will be put at
the Annual General Meeting. A retiring member shall be eligible for re-election.
Directors
The Directors during the year are the same as the Dirertors as listed on page 2.
Taxation Status
The charitable company is recognised as a charity by HM Revenue & Customs. Accordingly, the
charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation
Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992.
Directors, Responsibilities
The Directors are responsible for preparing the financial Statements in accordance with
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Company law requires the Directors 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
resources and application of resources, including the income and expenditure, of the charitable
company for that year. In preparing these financial statements the Directors are required to:
select suitable accounting policies and apply them consistently;
observe the methods and principles in the Charities SORP (FRS 102).
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 charitable company will continue in operation.
The Directors are responsible for keeping 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 detection of fraud and other irregularities.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 4

ashel Communit Develo
ment Association Limited
Charitable Com
an
Limited b Guarantee
DIRECTORS. REP
RT for the
ear end
O November 2023
Continued
Small Companies Exemption
The above report has been prepared in accordance with the special provisions relating to small
companies within Part 15 of the Companies Act 2006.
This report was approved by the Board of Directors on 26 January 2024 and signed on its behalf
by:
William Oliver Ross
Director
Com
Chari
an
Re
istration Number.
1027893
istration N
mber: 100133
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 5

ashel Communit Develo
ment Association Limited
Charitable Com
an
Limited b Guarantee
INDEPENDENT EXAMINER'S REPORT to the members on the unaudited financial
statements of Mo
ashel Communit Develo
ment Association Limtted for the
ar
ended 30 November 2023
We report on the financial statements of the company for the year ended 30 November 2023
which are set out on pages 8 to 17.
Respective Responsibilities of Directors and Independent Examiner
As the charitable company's Directors, who are the trustees for the purpose of charity law, you
are responsible for the preparation of the financial statements in accordance with the
requirements of the Companies Act 2006. Having satisfied ourselves that the charitable
company is not subject to audit under company law, and is eligible for independent examination,
it is our responsibi lity to:
examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008. _..-
follow the procedures laid down in the general Directions given by the Charity
Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern
Ireland) 2008. and
state whether particular matters have come to our attention.
Basis of Independent Examiner's Report
We have examined your charitable company's financial statements as required under section 65
of the Charities Act (Northern Ireland) 2008 and our examination was carried out in accordance
with the general Directions given by the Charity Commission for Northern Ireland under section
65(9)(b) of the Charities Act (Northern Ireland) 2008. The examination included a review of the
accounting records kept by the charitable company and a comparison of the accounts presented
with those records. It also includes consideration of any unusual items 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 accounting records were not kept in accordance with section 386 of the Companies
Act 2006; or
That the accounts do not accord with those accounting records. or
That the accounts do not comply with the accounting requirements of section 396 of the
Companies Act 2006 and with the methods and principles of the 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; or
That there is further information needed for a proper understanding of the accourits to
be reached.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 6

Mo
ashel Communit Develo
ment Association Limited
Charitable Com
an
Limited b Guarantee
INDEPENDENT EXAMINER'S REPORT to the members on the unaudited financia
statements of Mo
ashel Communit Develo
ment Association Limite
for the
ar
ended 30 November 2023
Independent Examiner's Statement
We have completed our examination and have no concerns in respect of the matters listed above
and, in connection with following the Directions of the Charity Commission for Northern Ireland,
we have found no matters that require drawing to your attention.
CavanaghKelly
Chartered Accountants & Statutory Auditors
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP
Date: 26 January 2024
CavanaghKellyff Chartered Accountants & Statutory Auditors
Page 7

J In Trj
J El
ZJ Tn
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1Y
CXJ C

Mo
ashel Communit Develo
ment Association Limited
Charitable Com
an
Limited b Guarantee
TATEMENT OF FINANCIAL POSITION as at 30 November 202
Note
2023
2022
Fixed Assets
Property, plant and equipment
867 438
867 438
Current Assets
Receivables
Cash and cash equivalents
1,082
13,823
14,905
2,474
61,768
Payables: Amounts falling due within in one
year
Net Assets
847 260
926 206
REPRESENTED BY:
Unrestricted funds
Restricted funds
Total Funds
io
io
847,260
926,206
847.260
926 206
The Directors, statements shown on the following page form part of this Statement of Financial
Position.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 9

Mo
ashel Communit Develo
ment Associati
Charitable Com
an
Limited b Guarantee
n Limited
STATEMENT OF FINANCIAL POSITION as at 30 November 2023
Continued
These financial statements have been prepared in accordance with the provisions applicable to
small companies regime within Part 15 of the Companies Act 2006.
For the financial year ended 30 November 2023 the company was entitled to exemption from
audit under section 477 of the Companies Act 2006.
The Directors confirm that the members have not required the company to obtain an audit of
its financial statements for the year in question in accordance with section 476 of the Companies
Act 2006.
The Directors acknowledge their responsibilities for ensuring that the charitable company keeps
accounting records which comply with Section 386; and for preparing financial statements which
give a true and fair view of the state of affairs of the charitable company as at the end of the
financial year and of its incoming or outgoing resources for the financial year in accordance with
the requirements of sections 394 and 395 and which otherwise comply with the requirements
of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable
company.
The notes on pages 11 to 17 form an integral part of the financial statements.
The financial statements were approved and authorised for issue by the Board of Directors on
26 January 2024 and signed on their behalf by:
William Oliver Ross
Director
Com
an
Re
istration Number: N1027893
Charit Re
istration Number: 100133
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 10

Mo
ashel Communit Develo
ment Association Limited
Charitable Com
an
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 30 November 2023
I. GENERAL INFORMATION
Moygashel Community Development Association Limited is a charitable company limited by
guarantee incorporated in Northern Ireland. In the event of the charitable company being wound
up, the liability in respect of the guarantee is limited to an amount not exceeding £2 per member
of the charitable company. The address of the registered office is as shown on page 2.
The charitable company constitutes a public benefit entity as defined by FRS 102.
2. ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which are
considered material in relation to the charitable company's financial statements.
Statement of Compliance
The financial statements have been prepared in accordance with Accounting and Reporting
by Charites: Statement of Recommended Practice (SORP} applicable to charities preparing
their financial statements in accordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland (FRS 102) effective l January 2019 (Second Edition),
the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland
(FRS 102) and the Companies Act 2006.
Basis of Preparation
The financial statements are prepared on a going concem basis under the historical cost
convention unless otherwise stated in the relevant accounting policy. Historical cost is
generally based on the fair value of the consideration given in exchange for assets. The
following accounting policies have been applied consistently in dealing with items which
are considered material in relation to the charitable company's financial statements.
Cash Flow Statement
The charitable company has applied Update Bulletin 2 as published on 5th October 2018
(effective l January 2019) and does not include a cash flow statement on the grounds
that it is applying FRS 102 Section IA.
Income and Endowments
(i) Jnvestment Income
Income from investment attivities includes interest and dividends earned on
investments. It is recognised as earned.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 11

ashel Communit Develo
ment Association Limited
Charitable Com
an
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ear ended 30 November 2023
Continued
2. ACCOUNTING POLICIES (Continued)
Expenditure
Expenditure is recognised when a liability is incurred. Where costs cannot be directly
attributed to a particular heading, they have been allocated to activities on a basis
consistent with use of resources.
(i) Charitable Activities
This comprises all the resources applied by the charitable company in undertaking its
work to meet its charitable objectives. Charitable activities will include the costs of
governance arrangements which relate to the general running of the charitable
company.
Fund Accounting
The charitable company has two types of funds for which it is responsible at the year end:
Unrestricted funds - Funds which are expendable at the discretion of the Directors
in furtherance of the objective5 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 aims of the charitable company.
Investment Property
Investment property is carried at fair value determined annually and derived 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 specific asset.
No depreciation is provided. Changes in fair value are recognised in the statement of
financial activities.
Trade and Other Receivables
Trade and other receivables are initially recorded at fair value and thereafter stated at cost
less impairment losses for bad and doubtful debts.
Trade and Other Payables
Trade and other payables are initially recognised at fair value and thereafter stated at
cost.
Taxation
As a charity, the charitable company is not liable to Corporation Tax.
CavanaghKelly, Chartered Accountants & Statutory Auditors
Page 12

Mo
ashel Communit Develo
ment Association Llmlted
Charitabl Com
an
Limited b Guarantee
NOTES TO THE FINAN
IAL STATEMENTS
For the
ar ended 30 November 2023
Continued
2. ACCOUNTING POLICIES (Continued)
2.10.
Finance Costs
Finance costs are charged to the statement of financial activities over the term of the debt.
2.11. Cash and Cash Equivalents
Cash and cash equivalents includes cash in hand, deposits held at call with banks, other
short term highly liquid investments with original maturities of three months or less
2.11. Financial Instruments
(i) Financial assets
Basic financial assets, including trade and other receivables, cash and bank balances and
amounts owed by related parties and are initially recognised at transaction price, 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. Such
assets are subsequently carried at amortised cost using the effective interest method.
At the end of each reporting period financial assets measured at amortised cost are
assessed for objective evidence of impairment. 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 effective interest rate. The impairment loss is
recognised in profit or loss.
If there is decrease in the impairment loss arising from an event occurring after the
impairment was recognised, the impairment is reversed. The reversal is such that the
current carrying amount does not exceed what the carrying amount would have been had
the impairment not previously been recognised. The impairment reversal is recognised in
profit or loss.
Financial assets are derecognised when (a) the contractual rights to the cash flows 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) despite having retained
some significant risks and rewards of ownership, control of the asset has been transferred
to another party who has the practical ability to unilaterally sell the asset to an unrelated
third party without imposing additional restrictions.
(li) Financial liabilities
Basic financial liabilities, including trade and other payables, bank loans and overdrafts
and amounts owed to related parties are initially recognised at transaction price, unless
the arrangement constitutes a financing transattion, where the debt instrument is
measured at the present value of the future receipts discounted at a market rate of
interest. Debt instruments are subsequently carried at amortised cost, using the effective
interesl rate method.
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 13

Mo
ashel Cornmuni
Charitable Com
an
Develo
ment Association Limited
Limited b Guarantee
NOTES T
For the
THE FINANCIAL STATEMENT
ear ended 30 November 2023
ntin
2. ACCOUNTING 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
this case, the fee is deferred until the draw-down occurs.
To the extent there is no evidence that it is probable that some or all of the facility will be
drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised
over the period of the facility to which it relates.
Trade payables are obligations to pay for goods or services that have been acquired in the
ordinary course of business from suppliers. Accounts 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 payables are recognised initially at transaction price and subsequently measured at
amortised cost using the effective interest method.
Financial liabilities are derecognised when the liability is extinguished, that is when the
contractual obligation is discharged. cancelled. or expires.
(iii) Offsetting
Financial assets and liabilities are offset, and 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.
3. INCOME AND ENDOWMENTS
Unrestrirted Restricted
Funds
Funds
2023
2023
Total
Funds
2023
Total
Funds
2022
Charitable Activities
Investment income
Total Income and Endowments
31,680
31,680
CavanaghKellyr Chartered Accountants & Statutory Auditors
Page 14

Mo
ashel Communit Develo
ment Association Limited
Charitable Com
an
Limited b Guarantee
NOTE
For the
TO THE FINANCIAL STATEMENT
ear
nded 30 November 2023
Continued
RESOURCES EXPENDED
Unrestricted Restricted
Funds
Funds
2023
2023
Total
Funds
2023
Total
Funds
2022
Charitable Activities
Rates
Insurance
Repairs and maintenance
Independent Examiner's
Remuneration
Management Fees
Professional Fees
Bank Interest & Charges
Total Resources Expended
2,673
2,986
95,505
2,323
2,673
2,986
95,505
2,323
3,163
1,077
73,350
2,647
5,271
1,693
175
110,626
5,271
1,693
175
110,626
3,360
168
83,765
Expenditure on Charitable Activities in the year ended 30 November 2022 of £83,765 was made
up of entirely unrestricted funds.
NET INCOME/{EXPENDITURE) FOR THE YEAR
Net income/{expenditure) is stated after charging/(crediting)'.
2023
2022
Independent Examiner's remuneration
2,323
2,674
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 15

ashel Communlt Develo
ment Association Limited
Charitable Com
an
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the
ar Ended
mber 2023
Contin
ed
6. STAFF COSTS AND EMPLOYEE BENEFITS
The average number of persons employed by the charitable company during the year was Nil.
(2022: NIL)
6.1. DIRECTORS, REMUNERATION
The Directors received nor waived any remuneration or any other benefits during the year and
no reimbursement of expenses incurred.
7. INVESTMENT PROPERTY
Investment
Property
Total
Cost
At 30 November 2022
867,438
867,438
867,438
867,438
At 30 November 2023
Carrying amount
At 30 November 2023
867,438
867,438
At 30 November 2022
867,438
867,438
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 16

Mo
ashel Communit Develo
ment Association Limited
Charitable C
an
Limited b Guarantee
NOTES TO THE FINANCIAL STATEMENTS
For the Year Ended 30 November 2023
Continued
8. RECEIVABLES
2023
2022
Other receivables
9. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023
2022
Accruals and deferred income
10. ANALYSIS OF NET ASSETS
Unrestricted
Funds
2023
Restricted
Funds
2023
Total
Funds
2023
Total
Funds
2022
Fixed Assets
Current Assets
Current Liabilities
867,438
14,905
35,083
847 260
867.438
14,905
867,438
61,768
847 260
926 206
11. ANALYSIS OF FUNDS
Unrestricted Restricted
Funds
Funds
2023
2023
Total
Funds
2023
Total
Funds
2022
Opening balance
Income
Expenditure
Transfer between funds
Closing balance
926,206
31,680
(110,626)
926.206
31.680
{110,626)
979,471
30,500
(83,765)
847,260
847 260
926,206
CavanaghKellyi Chartered Accountants & Statutory Auditors
Page 17