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