Company Reglstratlon Number N1027893 Charity Registration Number 100133 Moygashel Community Development Assoclatlon Llmlted (Charltable Company Limlted by Guarantee) Annual Report & Unaudited Financial Statements For the Year Ended 30 November 2025 Cooper Parry Audit (Ireland} Llmlted Chartered Accountants & Statutory Audltors 36 - 38 Northland Row Dungannon BT71 6AP
Moygashel Communlty Development Assoclation Llmited (Charitable Company Llmited by Guarantee) CONTENTS For the year ended 30 November 2025 Page General Information Directors. Report Independent Examinerfs Report Statement of Financial Attivities statement of Flnanclal Posltlon 9-10 Notes to the Financlal Statements 11- 17 Page I
Moygashel Community Development Assoclation Limlted (Charitable Company Llmlted by Guarantee) GENERAL INFORMATION Board of Directors John Joseph Cavanagh Ann Kerr (reslgned 24 Jan 2025) Kenneth Maginnls (resigned 30 Sept 2025) Hilda Orr (resigned 25 Jan 2024) Wllllam Ollver Ross Company Secretary Wllliam Oliver Ross Company Reglstratlon Number N1027893 Charlty Reglstration Number 100133 Registered Offlce C/0 Simmons Meglaughlln & Orr Solicitors 20 Northland Row Dungannon Co. Tyrone BT71 6BL Independent Examiners Cooper Parry Audit (Ireland) Llmlted Chartered Accountants 36-38 Northland Row Dungannon Co. Tyrone BT71 6AP Bankers Danske Bank 5 Market Square Dungannon Co. Tyrone BT70 IAB Sollcitors Slmmons Meglaughlin & Orr 20 Northland Row Dungannon Co. Tyrone BT716BL Page 2
Moygashel Communlty Development Assoclation Llmited (Charltable Company Llmited by Guarantee) DIREcfoRS' REPORT for the year ended 30 November 2025 The Directors, who are the trustees for the purpose of charity law, have pleasure in presentlng thelr report and the unaudited flnancial statements of the charitable company for the year ended 30 November 2025. The flnanclal statements have been prepared in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charltle5" (FRS 102), United Klngdom Generally Accepted Accounting Prattlce and the Companles Act 2006. Reference and Administratlon Details The reference and admlnlstratlon detalls of the charitable company are as shown on page 2. Objectives and Actlvities Objertives The objective of the charltable company Is the promotlon for the public beneflt Df rural regeneratlon in areas of soclal and economlc deprivatlon and In partlcular the area of Moygashel and distrlct. Activities The company's activlties include the promotlon of job opportunitles and Industrial projects, enterprises and initiatlves with the objectlve of providing employment and improvlng the quallty of life. undertaklng projects of a communlty nature wlthln the area In the Interest of 50clal welfare for employment, recreatlon and leisure tlrne occupatlon for those living or worklng 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 Development Assoclation Llmlted conflrm that they have complled with their duty under sectlon 4(6) of the Charltie5 Act (Northern Ireland) 2008 to have regard to the Charlty Commission for Northern Ireland's guidance on public benefit and that the public benefit requirement has informed the activlties of the charitable company In the year ended 30 November 2025. Achlevements and Performance After developing the old, derelirt Moygashel factory into the Llnen Green shopping centre and its onward sale, the company is seeking to use it5 current funds for the provision of housing. Financial Review Financlal Performance The financial performance was In Ilne wlth the Dlrectors, expectatlons. 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 charltable company returned net incoming resources for the year of £5,293 (2024., incoming resources of £29,307). At 30 November 2025, the total funds of the charltsble company amounted to £881,860 (2024: £876,567) comprising entlrely of unrestricted funds. Princlpal sources of fundlng and how thls has supported the key objectives of the charitable company are dlsclosed in the notes to the financial statements. Page 3
Moygashel Communlty Development Assoclation Llmlted (Charltable Company Limited by Guarantee) DIRECTORS, REPORT for the year ended 30 November 2025 (Contlnued) Flnancial Review (Contlnued) Reserves Pollcy The charitable company does not maintaln a formal reserves policyi however, the Board of Directors contlnue 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 Managernent Oryanisational Structure The charitable company is a company Ilmlted by guarantee, not havlng a share capltal. The charltable company was established under a Memorandum of Association which establlshed the objects and powers of the charitable company and is govemed under its Artlcles of As50clation, In accordance with the Artlcles of Associatlon, the members to retire by rotation shall be those who have been longest In office since their last electlon, and the relevant motion will be put at the Annual General Meeting. A retiring member shall be ellgible for re-election. Dirertors The Dlrectors during the year are the same as the Dlrectors as listed on page 2. raxatlon Status The charitable company Is recognised as a charity by HM Revenue & Customs. Accordinglyfft the charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Sectlon 256 Taxatlon of Chargeable Galns Att 1992, Dlrectors. Responsibilities The Dlrectors are responsible for preparing the financial statements in accordance with appllcable Saw and United Kingdom Accountin9 Standards (United Kingdom Generally Accepted Accountlng Practice), Company law require5 the Directors to prepare flnanclal statements for each flnanclal year whlch give a true and fair vlew of the State of the affairs of the charitable company and of the incomlng resources and appllcation of resources, including the income and expenditure, of the charitable company for that year. In preparing these financlal statements the Dlrectors 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 statement5. and prepare the financial statements on the going concem basis unless it is inappropriate to presume that the charitable company will continue in operation. The Directors are responslble for keeplng adequate accounting records that dlsclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the flnanclal statements comply wlth the Companies Act 2006. They are also responsible for safeguardlng the assets of the charitable company and hence for taking reasonable steps for the preventlon and detectlon of fraud and other irregularftles. Page 4
Moygashel Community Development A550¢iation Limlted (Charltable Company Limited by Guarantee} DIRECTORS. REPORT for the year ended 30 November 2025 {Contlnued} Small Companles Exemption The above report has been prepared In accordance with the speclal provlslons relating to small companie5 Within Part 15 of the Companles Act 2006. This report was approved by the Board of Directors on behalf by: APL IL 2026 and slgned on its William Oliver Ross Dlrertor Company Registration Number: N1027893 Charity Registration Number: 100133 Page 5
Moygashel Community Development Associatlon Limited (Charitable Company Llmlted by Guarantee) INDEPENDENT EXAMINER'S REPORT to the members on the unaudlted flnanclal statements of Moygashel Community Development Association Limited for the year ended 30 November 2025 We report on the flnancial statements of the company for the year ended 30 November 2025 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 lawl YOU are responslble for the preparatlon of the financlal statements in accordance wlth the requlrements of the Companies Act 2006. Having satisfled ourselves that the charitable company is not subject to audit under company law, and Is ellglble for independent examination, it Is Dur responslbility to.. examino the accounts under sectlon 65 of the Charities Act (Northern Ireland) 2008; follow the procedures laid down in the general Directlons given by the Charity Commission for Northern Ireland under 5ectlon 65(9)(b) of the Charities Act (Northern Ireland) 2008. and state whether particular matters have come to our attention. Basis of Independent Examlner's Report We have examined your charitable company's flnancial statements as required under section 65 of the Charitles Act (Northern Ireland) 2008 and our examination was carrled out In accordance with the general Dlrections glven by the Charity Commlsslon for Northern Ireland under section 65(9)(b) of the Charities Act (Northem Ireland) 2008. The examinatlon included a review of the accounting records kept by the charltable company and a comparison of the accounts presented with those records. It also includes cor)sideration of any unusual items or disclosures Sn the accounts, and seeking explanations from you as charltable company Directors concernlng any such Matters. Our role Is to state whether any materlal matters have come to our attention glving us cause to belleve: That accounting records were not kept In accordance with section 386 of the Companies Act 2006; or That the accounts do not accord wlth those accountlng records; or That the accounts do not comply with the accounting requirements of sectlon 396 of the Companie5 Act 2006 and wlth the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland; or That there is further informatlon needed for a proper understanding of the accounts to be reached. Page 6
Moygashel Community Development Association Llmited {Charltable Company Limlted by Guarantee) INDEPENDENT EXAMINER'S REPORT to the members on the unaudlted financlal statements of Moygashel Communlty Development Association Limited for the year ended 30 November 2025 Independent Examlner's Statement We have completed our examination and have no concerns In respect ofthe matters Ilsted above and, in connection with followlng the Directions of the Charlty Commission for Northern Ireland, we have found no matters that require drawing to your attention. Cooper arry Audlt {Ir4land) Llmited Chartered Accountants & Statutory Auditors 36-38 Northland Row Dungannon Co. Tyrone BT71 6AP Date: 23 April 2026 Page 7
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Moygashel Community Development Assoclatlon Llmlted (Charitable Company Llmlted by Guarantee) STATEMENT OF FINANCIAL POSITION as at 30 November 202S Note 2025 2024 Flxed Assets Property, plant and equipment 867 438 867 438 Current Assets Receivables Cash and cash equivalents 1,141 1,467 17,716 13,506 Payables: Amounts falllng due within In one year (3,294) (4,377) Net Current Assets / (Liabilities} 14,422 9,129 Net Assets 881 860 876 567 REPRESENTED BY: Unrestricted funds Restricted funds Total Funds io io 881,860 876,567 881 860 876,567 The Directors, statements shown on the following page form part of this Statement of Financial Posltlon. Page 9
Moygashel Community Development Association Limited (Charltable Company Llmlted by Guarantee} STATEMENT OF FINANCIAL POSITION as at 30 November 2025 (Contlnued) These financial statements have been prepared in accordance with the provisions appllcable to small companles regime withln Part 15 of the Companles Art 2006. For the financial year ended 30 November 2025 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 audlt of Its financial statements for the year In questlon in accordance wlth section 476 of the Companles Art 2006. The Directors acknowledge thelr responsibilities for ensurlng 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 stste of affairs of the charitable company as at the end of the financlal year and of Its Incomlng or outgolng SOurceS for the financial year In accordance with the requirements of sections 394 and 395 and whlch otherwise comply wlth the requlrements of the Companies Act 2006 relating to flnanclal statement5, so far a5 appllcable to the charltable company. The notes on pages 11 to 17 form an Integral part of the financlal statements. The financlal statements were approved and authorised for Issue by the Board of Directors on 2026 and slgned on their behalf by: William Ollver Ross Director Company Registration Number. N1027893 Charity Registratlon Number: 100133 Page 10
Moygashel Community Development As$ociatlon Limited (Charltable Company Limlted by Guarantee} NOTES TO THE FINANCIAL STATEMENTS For the year ended 30 November 2025 I. GENERAL INFORMATION Moygashel Community Development Association Limited is a charltable company limited by guarantee incorporated in Northern Ireland. In the event of the charitable company being wound up, the Ilability 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 charltable company constitutes a publlc beneflt entity as deflned by FRS 102. 2. ACCOUNTING POLICIES The following accounting pollcles have been applied conslstently in dealing with items which are consldered materlal in relatlon to the charitable company's financlal statements. Statsment of Compliance The financial statements have been prepared in accordance with Accounting and Reportlng by Charites: Statement of Recommended Practice (SORP) applicable to charities preparlng their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republlc of Ireland (FRS 102) effective I lanuary 2019 (Second Edltion), the Financlal Reporting Standard applicable in the Unlted Kingdom and Republic of Ireland {FRS 102) and the Companies Act 2006. Basls of Preparation The flnanclal statements are prepared on a golng concem bas15 under the hlstorfcal cost conventlon unless otherwise stated In the relevant accountlng policy. Hlstorical c05t Is generally based on the falr value of the consideratlon glven In exchange for assets. The following accountlng policies have been applied con5iStently in dealing with Item5 which are considered materlal In relation to the charitable company's flnancial 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) Investment Income Incorne from investment activlties includes interest and dlvldends earned on Investments. It Is recognised as earned. Page 11
Moygashel Community Development Associatlon Limited (Charitable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Contlnued) For the year ended 30 November 2025 2. ACCOUNTING POLICIES (Continued) Expendlture Expenditure Is recognised when a Ilability Is Incurred. Where costs cannot be dlrectly attributed to a particular headingi they have been allocated to activities on a basis consistent wlth use of resources, (l) Charltable Activitles This comprlses all the resources applled by the charitable company in undertaking Its work to meet its charitable objectives. Charitable activities will Include the costs of govemance arrangements whlch relate to the general running of the charttable 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 discretlon of the Dlrettors In furtherance of the objectives of the charitable company. In addltlons, funds may be held In order to finance capital Investment and working capital. Restrlcted funds - Income received for speciftc purposes. Such purposes are wlthin the overall aims of the charitable company. Investment Property Investment property is carried at fair value detemiined 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 speclfic asset. No depreciatlon is provided. Changes In falr value are recognised in the statement of financlal actlvltles, Trade and Other Recelvables 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 inltially rÈcognised at falr value and thereafter stated at cost. Taxation As a charity, the charitable company is not liable to Corporation Tax. Page 12
Moygashel Community Development Association Limlted (Charltable Company Limlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Contlnued) For the year ended 30 November 2025 2. ACCOUNTING POLICIES (Contlnued) 2.10. Flnance Costs Flnance costs are charged to the Statement of Financial Aciivltles over the temi of the debt. 2.11. Cash and Cash Equivalents sh and cash equlvalents Includes cash in hand, deposlts held at call wlth banks, other Short temi highly Ilquid investments with original maturltles of three months or less 2.11. Financlal Instruments (i) Financlal assets Baslc flnancial assets, Includlng trade and other receivables, cash and bank balances and amounts owed by related parties and are initia15y recognised at transaction price, unless the arrangement constitutes a flnanclng transaction, where the transactlon is measured at the present value of the future recelpts discounted at a market rate of Interest. Such assets are subsequently carTled at amortlsed cost uslng the effertive Interest method. At the end of each reportlng period financlal assets measured at amortised cost are assessed for objective evidence of impalrment. If an asset is Impaired the impairment loss is the dlfference between the carrylng amount and the present value of the estimated cash tlows dlscounted at the asset's original effettlve Interest rate. The impairment loss is recognised in proflt or loss. If there is decrease in the Impalrment loss arising from an event occurring after the Impairment was recognised, the impaimient Is reversed. The reversal is such that the current carrying amount doe5 not exceed what the carrying amount would have been had the impalrment not prevlously been recognlsed. The impairment reversal is recognised In proflt or loss. Financlal assets are derecogni5ed 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 prartlcal ability to unilaterally sell the asset to an unrelated third party without Imposing additional restrlctlons. (il) Flnancial liabilities Basic flnanclal liabllities, including trade and other payables, bank loans and overdrafts and amount5 owed to related parties are Inltlally recognised at transaction price, unless the arrangement constitutes a financlng transaction, where the debt instrument is measured at the present value of the futu receipts discounted at a market rate of interest. Debt instruments are subsequently carrled at amortised cost, using the effective Interest rate method. Page 13
Moygashel Community Development Assoclatlon Limlted {Charltable Company Llmited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 30 November 2025 2. ACCOUNTING POLXCIES (Continued) Fees pald on the establishment of loan facllitles 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 do¥vn. In this case, the fee is deferred untll the draw-down occurs. To the extent there Is no evldence that it is probable that some or all of the facillty will be drawn down, the fee Is capltalised as a pre-payment for Ilquldity servlces and amortlsed 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 ordlnary course of business from suppllers. Accounts payable are classified as current Ilabilitles if payment is due wlthln one year or less. If not, they are presented as non- current liabilities. Trade payables are recognlsed Inltlally at transactlon prlce and subsequently measured at amortised cost using the effective interest method. Flnanclal Ilabllities are derecognised when the Ilablllty Is extingulshed, that Is when the contractual obligatlon Is dlscharged, cancelled, or expires. (Ill) Offsetting Financial assets and liabilities are offset, ar)d the net amounts presented In the flnanclal statements when there Is a legally enforable right to set off the recognlsed amounts and there Is an Intention to settle on a net basls or to realise the asset and settle the Ilablllty slmultaneously. 3. INCOME AND ENDOWMENTS Unrestrlcted Restricted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 Charltable Actlvlties Investment income Total Income and Endowments other Gains / (105se$) Proflt on dlsposal of lease interest Page 14
Moygashel Communlty Development Association Llmited (Charitable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) For the year ended 30 November 2025 RESOURCES EXPENDED Unrestrlcted Restrlrted Funds Funds 2025 2025 Total Funds 2025 Total Funds 2024 Charitable Actlvlties Rates Insurance Repairs and maintenance Accountancy Property management Consultancy Bank Interest & Charges Total Resources Expended 3,458 2,873 7,148 1,923 3,631 5,746 L68 24.947 3,458 2,873 7,148 1,923 3,631 5,746 168 3,533 3,227 3,455 1,921 3,629 168 Expenditure on Charitable Activitie5 in the year ended 30 November 2024 of £15,933 was made up of entlrely unrestrlcted funds. NET INCOME/(EXPENDITURE) FOR THE YEAR Net income/(expendlture) is stated after charglng/{crediting): 2025 2024 Independent Examinerfs remuneration 1,923 1,921 Page 15
Moygashel Communlty Development Association Limited {Charltable Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) For the Year Ended 30 November 2025 6. STAFF COSTS AND EMPLOYEE BENEFfTS The average number of persons ernployed by the charltable company during the year was Nil. (2024.. NIL) 6.1. DIRECTORS. REMUNERATION The Dlrectors recelved nor walved any remuneratlon or any other beneflts durlng the year and no relmbursement of expenses InCurd. 7. INVESTMENT PROPERTY Investment Property Total Cost At 30 November 2024 867,438 867,438 867,438 867,438 At 30 November 2025 Carrying amount At 30 November 2025 867,438 867,438 At 30 November 2024 867,438 867,438 8. RECEIVABLES 2025 2024 Other receivables 9. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Accruals and deferred income Page 16
Moygashel Communlty Development Association Limited (Charitable Company Llmlted by Guarantee) NOTES TO THE FINANCIAL STATEMENTS (Continued) For the Year Ended 30 November 2025 10. ANALYSIS OF NET ASSETS Unrestricted Funds 2025 Restrlcted Funds 2025 Total Funds 2025 Total Funds 2024 Flxed Assets Current Assets Current Liabilities 867,438 17,716 867,438 17,716 867,438 13,506 881 860 881 860 876 567 11. ANALYSIS OF FUNDS Unrestrlcted Funds 2025 Restricted Funds 2025 Total Funds 2025 Total Funds 2024 Opening balance Income Expendlture Other Galns Closlng balanco 876,567 30,240 (24,9471 876,567 30,240 (24,947) 847,260 30,240 (15,933) 881 860 881 860 876 567 Page 17