COMPANY REGISTRATION NUMBER.. N1037176 CHARITY REGISTRATION NUMBER: NIC100200 Garvagh & District Community Association Company Limited by Guarantee Unaudited Financial Statements 31 October 2023 SP MCCAFFREY & CO Chartered accountants 50 Campsie Road Omagh Co Tyrone BT79 OAG Garvagh & District Community Association Company Limited by Guarantee Financial Statements Year ended 31 October 2023 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 14 Garvagh & District Community Association Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 October 2023 The trustees, who are also the directors for the purposes of company law. present their report and the unaudited financial statements of the charity for the year ended 31 October 2023. Reference and administrative details Registered charity name Garvagh & District Community Association Charity registration number Company registration number N1037176 Principal office and registered 50 Carn Road off ice Castlederg Co Tyrone BT81 7XA NIC100200 The trustees John Pat Connolly Bridget McGlinchey Sean Gallen Hugh Moss Hugh Anthony Moss Mrs B McGinty Mrs M McFadden Company secretary Hugh Anthony Moss Independent examiner S P M¢Caffrey 50 Campsie Road Omagh Co Tyrone BT79 OAG Structure, governance and management Governing Document Garvagh & District Community Association is a company limited by guarantee IN10371761. The company is governed by its memorandun and articles of association. The company is recognised by the Charity Commission for Northern Ireland under reference NIC100200. Garvagh & District Community Association Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (conlinuedl Year ended 31 October 2023 Objectives and activities We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities Principal Activity The Principal Activity of the Company is lo promote for the benefit of the inhabitants of the Garvagh and District area of County Tyrone and its environs lo advance education and provide facilities in the interests of social welfare for recreation with the objective of improving the standard of education. health. fitness and wellbeing of the sid inhabitants. It is the policy of the Company to raise and donate monies to other various Charitable casuses. both national and local. Achievements and performance The charity hold a monthly dance and operates a weekly youth club The charity's facilities are hired out to other community groups and individuals for information evenings. social functions and sportinglleisure activities The charity also supports local start-ups in the area Funding from the SECAD. NTR Communiuty Benefit Fund enabled the charity lo carry out electrical inspection and testing within the premises and also helped with maintenance and entertainment costs DAERA provided funding through the Rural Micro Capital Grant Scheme for improved health and safety works in the children's plauground The youth club is an integral part of the charity's activities and the charity was fortunate to receive funding from the Education Authority to contribute to running costs and for the purchase of equipment The charity continues to provide remote services to our community through befriending services. sharing inforrnation through social media. delivery service for the vulnerable people in our community The charity was able to deliver a summer scheme for the youth in the community. This was possible through funding assistance from the National Lottery's Community Fund for older people's health and wellbeing Grant assistance from Derry City and Strabane District Council's Community Support Fund towards the running costs of the organisation Is an important funding source In times of high rising costs The Trustees wish to acknowledge the continued support from their funding partners and thank them for their financial assistance. Financial review Grants The directors are satisfied that all grants have been used solely for the purposes for which they were provided Reserves policy The directors have set up a reserves policy which requires that reserves be maintained, in unrestricted bank accounts. al a level which ensures that the charity s core activities could continue during a period of unforeseen difficulty The directors consider that this figure should be £7.000. The Company's ReseNe Policy is reviewed by the directors on an annual basis. Garvagh & District Community Association Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 October 2023 Small company provisions This report has been prepared in accordance with the provision5 applicable to companies entitled lo the small companies exemption. The trustees, annual report was approved on 31 July 2024 and signed on behalf of the board of trustees by.. Hugh Anthony Moss Trustee Garvagh & District Community Association Company Limited by Guarantee Independent Examiner's Report to the Trustees of Garvagh & District Community Association Year ended 31 October 2023 I report to the trustees on my examination of the financial statements of Garvagh & District Community Association ('the charity,) for the year ended 31 October 2023. Responsibilities and basis of report As the trustees of the company (and also its directors for the purpose5 of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the '2008 Act'i and the Companies Act 2006 ('the 2006 Act,) You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of the charity's financial statements a5 carried out under section 65 of the 2008 Act In carrying out my examination I have followed the general Directions given by the Charity Commsssion for Northern Ireland under section 65(91{bl of the 2008 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect. accounting records were not kept in respect of the charity 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 IFRS 102) I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reaohed. Mcca rey pendent Examiner 50 Campsie Road Omagh Co Tyrone BT79 OAG Garvagh & District Community Association Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 October 2023 2023 Restricted funds Total funds 2022 Unrestricted funds Total funds Note Income and endowments Charitable activities Total income Expenditure Expenditure on charitable activities Total expenditure 4.516 12.170 16,686 16,686 12.214 12.214 4.516 12.170 10.596 1Q,596 3.619 12,170 12.170 15,789 15,789 3,619 897 897 1.618 Net income and net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 9,926 9,926 10,823 8.308 10.823 9.926 The statement of financial activities includes all gains and losses recognised in the year All income and expenditure derive from continuing activities. The notes on pages 7 to 12 form part of these financial statements. Garvagh & District Community Association Company Limited by Guarantee Statement of Financial Position 31 October 2023 2023 2022 Note Fixed assets Tangible fixed assets 31.256 30,016 Current assets Debtors Cash at bank and in hand 10 1,337 17,912 2.505 18 607 19,249 21,112 Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year Net assets 7,467 9.815 11,782 41,798 11.297 42.553 12 30,975 10,823 32.627 9.926 Funds of the charity Unrestricted funds Total charity funds For the year ending 31 October 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. 10,823 10,823 9,926 9,926 Directors, responsibilities. 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. The directors acknowledge their responsibilities for complying with the requirements ol the Act with respect to accounting records and the preparation of financial statements These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime These financial statements were approved by the board of trustees and authorised for issue on 31 July 2024. and are signed on behalf of the board by. Bridget McGlinchey Trustee Hugh Anthony Moss Trustee The notes on pages 7 to 12 form part of these financial statements. Garvagh & District Community Association Company Limited by Guarantee Notes to the Financial Statements Year ended 31 October 2023 General information The charity is a public benefit entity and a private company limited by guarantee. registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 50 Carn Road, Castlederg, Co Tyrone. BT81 7XA. Statement of compliance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland.. the 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 IFRS 1021 (Charities SORP IFRS 10211 and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investment properties measured al fair value through income or expenditure The financial statements are prepared in sterling, which is the functional currency of the entity Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed lo be reasonable under the circumstances Fund accounting Unrestricted funds are available for use at the discretion of the trustees to fLJrther any of the charity's purposes Designated funds are unreslricled funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall Into one of two sub-classes. restricted Income funds or endowment funds Garvagh & District Community Association Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 31 October 2023 Accounting policies (conlinuedj Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed lo the charity. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured The following speciilc policie5 are applied to particular categories ol income. income from donations or grants is recognised when there is evidence of entitlement to the gift. receipt is probable and its amount can be measured reliably legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the c05t to the donor or the estim3ted resale value Donated facilities and services are recognised In the accounts when received If the value can be reliably measured. No amounts are Included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be Spent on a particular purpose and returned if unspent. in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is Incurred Expenditu re includes any VAT which cannot be fully recovered and is classified under headings of the slalemenl of financial activities lo which it relates. expenditure on raising funds includes the costs of all fundraising activities. events, non- charitable trading activities, and the sale of donated goods expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support Costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned belNeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets All fixed assets are initially recorded at cost. Garvagh & District Community Association Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 October 2023 Accou nting pol icies (continued) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Land and buildings Equipment 100/0 reducing balance 250/0 reducing balance Impairment of fixed assets A review for indicators of imp2irmenl is carried out at each reporting date. with the recoverable amount being estimated where such Indicators exist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash- generating unil to which the asset belongs The cash-generaling unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwi11. the goodwill acquired in a business combination is. from the acquisition date, allocated to each of the cash-generating units that are expected lo benefit from the synergies of the combination: irrespective of whether other assets or liabilities of the charity are assigned to those units. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related cond,,tions on the recipient, it is recognised in income when the grant proceeds are received or receivable Where the 9rant does impose specified future performance-related conditions on the recipient. it is recognised in income only when the performance-related conditions have been met Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument Basic financial instruments are initially recognised al the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured al the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured al amortised cost. Garvagh & District Community Association Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 October 2023 Accounting policies (continued) Financial instruments (continued? Where investments in shares are publicly traded or their fair value can otherwise be measured reliably. the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment Other financial instruments. including derivatives, are initially recognised at fair value. unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate. in which case the asset is measured at the present value of the future payment5 discounted at a market rate of interest for a similar debt instrument Other financial instruments are subsequently measured 81 fair value, with any changes recognised in the statement of financial activities, with the exception of hedgin9 instruments in a designated hedging relationship. Financial assets that are measured at cost or amort15ed cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment. an impairment loss is recognised under the appropriate heading in the statement of financia5 activities in which the initial gain was recognised For all equity instruments regardless of significance, and other financial assets that are individually significant. these are assessed Individually for imp81rment Other financial assets are either assessed individually or grou ped on the basis of similar credit risk characteristics. Any reversals of impairment are recogn ised immediately ',0 the extent that the reversal does not result In a carrying amount of the financial asset that exceeds what the carrying atrount would have been had the impairment not previously been recognised. Limited by guarantee The company limited by guarantee. I n the event of the company being wound up, liability is limited to £1 per member. Net income Net income is stated after chargingl{crediting)- 2023 2022 Depreciation of tangible fixed assets 4,010 3,757 Independent examination fees 2023 2022 Fees payable to the Independent examiner for. I ndependent examination of the financial statements 420 420 Garvagh & District Community Association Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 October 2023 Staff costs (continued) The average head count of employees during the year was 712022. 71. The average number of full-time equivalent employees during the year is analysed as follows.. 2023 2022 No. Youth club staff No employee received employee benefits of more than £60.000 during the year12022. Nill. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entlLy were received by the trustees. Tangible fixed assets Land and buildings Equipment Total Cost At 1 November 2022 Additions 143.683 14.678 2.770 158,361 2,770 At 31 October 2023 143.683 17.448 161,131 Depreclation At 1 November 2022 Charge for the year At 31 October 2023 113.704 2.998 13.401 1.012 127,105 4,010 116.702 14.413 131,115 Carrying amount At 31 October 2023 26.981 3.035 30,016 Al 31 October 2022 29,979 1.277 31,256 10. Debtors 2023 2022 Trade debtors Other debtors (see below) 1,037 300 697 1.808 1,337 2,505 2023 2022 Other debtors Derry City & Strabane D C Grant Due SECAD. NTR Community Benefit Fund Grant Due 1,808 300 300 1,808 11 Garvagh & District Community Association Company Limited by Guarantee Notes to the Financial Statements f¢ontinuedJ Year ended 31 October 2023 11. Creditors: amounts falling due within one year 2023 2022 Trade creditors Social security and other taxes Grants not spent 887 1.126 26 8,663 6,580 7,467 9,815 2023 2022 Grants not spent Grants not spent.. Crighshane & Churchill Community Benefit Fund Education Authority Grant not spent The National Lottery Community Fund Grant not spent Kathleen Graham Trust Grant Not Spent 3,800 3.800 1,126 3,737 2,780 6,580 8.663 12. Creditors: amounts falling due after more than one year 2023 2022 Accruals and deferred income 30,975 32.627 13. Deferred income 2023 2022 At 1 November 2022 Amount received in year.. Kathleen Graham Trust Amount deferred in year At 31 October 2023 32,627 2,220 13,872) 30,975 36.384 13.7571 32.627 14. Government grants The amounts recognised in the financia1 statements for government grants are as follows 2023 2022 Recognised in creditors.. Deferred government grants due after more than one year 30,975 32.627 12 Garvagh & District Community Association Company Limited by Guarantee Management Information Year ended 31 October 2023 The following pages do not form part of the financial statements.