Company Registration Number NI052050
Charity Number NIC100262
Killyleagh Community Shop Limited
Company Limited by Guarantee
Financial Statements For The Year Ended 31 December 2025
## Killyleagh Community Shop Limited Company Limited By Guarantee
## Financial Statements
|Yearended 31 December2025||
|---|---|
|Contents|Page|
|Charity information|1|
|Trustees’ report|2-3|
|Independent examiner's report|4|
|Statement of Financial Activities|5|
|Balance sheet|6|
|Notestothefinancialstatements|7-12|
## Killyleagh Community Shop Limited Company Limited By Guarantee
## Legal and Administrative information
## Trustees
H Nixon T Cole E Dunlop
Charity number NIC100262
Company number NI052050 Registered office 12 Turmennan Road Crossgar Downpatrick BT30 9ES
## Independent examiner
Broad Street Advisory Ltd 153 Kingsway Dunmurry BT17 9RY
Bankers Ulster Bank
11 - 16 Donegall Square East Belfast BT1 5HD
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Killyleagh Community Shop Limited Company Limited By Guarantee
Trustees' report (including Directors’ report)
## For the Year ended 31 December 2025
## The trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by 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 (FRS 102) (effective 1 January 2019)".
## Objectives and activities
## Principal Activity
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The principal activity of the charity is raising funds by running a shop by selling items donated by the
generalsmall public, such as clothes / bric-a-brac / electrical items (once 'PAT' tested) / books / toys / crockery/
costs itemsare donated of furnitureto local etc andcommunities what is notand soldChristianis thenOutreach sold on for recycling.activities. Surplus funds after running
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Public benefit In line with its stated aims and objectives, the trustees are confident that the charity is undertaking activities which provide public benefit.
## Achievements and Performance
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Financial Review
Total income for the year was £39,753 (2024: £34,965). Shop sales amounted to £38,672 (2024: £33,245)
and other income amounted to £1,081 (2024: £1,720).
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Total expenditure for the year was £36,832 (2024: £39,290). The cost of charitable activities amounted to £36,832 (2024: £39,290).
Net income for the year amounted to £2,921 (2024: £4,325 net expenditure) consisting of unrestricted net income of £2,921 (2024: £4,325 net expenditure).
## Reserves policy
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It is policy of the charity to maintain free reserves which matches the needs of the charity, both at the
current time and the foreseeable future. This provides sufficient funds to cover running costs. Free reserves
are those unrestricted reserves not designed nor invested in fixed assets which are available for general use.
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## Plans for future periods
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The current activities will be continued next year in line with our objectives.
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Structure, Governance and Management
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## Structure:
Killyleagh Community Shop operates as a Company Limited by Guarantee and a registered charity governed by a Board of Trustees. Recruitment, appointment, induction and training: The trustees regularly review the requirements of the charity and the possibility of a need for additional trustees. Any new trustees would be appointed by resolution of a meeting of all the trustees passed by a majority of those present. Appropriate training and induction is available to all trustees.
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Killyleagh Community Shop Limited Company Limited By Guarantee
## Trustees' report (including Directors' report) (continued)
## For the Year ended 31 December 2025
Recruitment, appointment, induction and training (continued) The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: H Nixon
T Cole
E Dunlop
Risk management The trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems are in place to mitigate an exposure to major risks. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces.
Statement of trustees’ responsibilities The trustees, who are also the directors of Killyleagh Community Shop Limited for the purpose of company law are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity 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 trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
~ 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 financiai statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees’ report was approved by the Board of Trustees
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H Nixon
Trustee
Dated: 3 March 2026
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## Killyleagh Community Shop Limited
## Company Limited By Guarantee
## Independent examiner's report to the Trustees of Killyleagh Community Shop Limited
We report on the accounts of the charity for the year ended 31 December 2025, which are set out on pages 5 to 12.
Respective responsibilities of trustees and examiner The trustees, who are also the directors of Killyleagh Community Shop Limited for the purposes of company law, are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent examination, it is our responsibility to:
(i) examine the accounts under section 65 of the Charities Act (ii) 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 (iii) state whether particular matters have come to our attention.
## Basis of independent examiner's report
We have examined your charity accounts as required under section 65 of the Charities Act 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. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. Our role is to state whether any material matters have come to our attention giving us cause to believe: 1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records 3. 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 4. That there is further information needed for a proper understanding of the accounts to be reached.
## Independent examiner's statement
We can confirm that we are qualified to undertake the examination because we are registered members of Chartered Accountants Ireland which is one of the listed bodies.
We have completed our examination and have no concerns in respect of any of the matters (1) - (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no other matters that require drawing to your attention.
## Tony McAleenan FCA
For and on behalf of Broad Street Advisory Chartered Accountants 153 Kingsway Dunmurry BT17 SRY
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Date: 3 March 2026
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N e en ner eee
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Killyleagh Community Shop Limited Company Limited By Guarantee
## Statement of Financial Activities Including Income and Expenditure account
For the year ended 31 December 2025
|||||Funds|Funds|
|---|---|---|---|---|---|
|||Unrestricted|Restricted|Total|Total|
|||Funds|Funds|2025|2024|
||Notes|£|£|£|£|
|Income from:||||||
|Charitable activities
Total income|3|39,753
39,753|-
-|39,753
39,753|34,965
34,965|
|Expenditure on:||||||
|Charitable activities
Total expenditure|4|36,832
36,832|-
-|36,832
36,832|39,290
39,290|
|Netincome/(expenditure)||2,921|-|2,921|(4,325)|
|Transfer between funds||-|-|-|-|
|Netmovement infunds||2,921|-|2,921|(4,325)|
|Reconciliation offunds:||||||
|Fund balances at 1 January2025||3,844|-|3,844|8,169|
|Fundbalancesat31December2025|2025|6,765|-|6,765|3,844|
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Killyleagh Community Shop Limited Company Limited By Guarantee
## Balance sheet
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As at 31 December 2025 ‘
2025 2024
Notes £ £
Current assets
Debtors 10 39 -
Gash at bank and in hand 7,276 6,084
7,315 6,084
Creditors: amounts falling due within one year 11 (550) (2,240)
Net current assets 6,765 3,844
Net assets 6,765 3,844,
The funds of the charity
Restricted funds 12 - -
Unrestricted funds 13 6,765 3,844
Total funds 6,765 3,844
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The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2025.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 3 March 2026
H Nixon Trustee
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Killyleagh Community Shop Limited Company Limited By Guarantee
Notes to the financial statements
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For the Year ended 31 December 2025
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1
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## Accounting policies
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Charity information
Killyleagh Community Shop Limited is a private company limited by guarantee incorporated in
Northern Ireland. The registered office is 12 Turmennan Road, Crossgar, Downpatrick, BT30 9ES.
11 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document,
the Companies Act 2006 and "Accounting and Reporting by 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 (FRS 102) (effective 1 January
2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102
Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charity.
Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal
accounting policies adopted are set out below.
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1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation
that the charity has adequate resources to continue in operational existence for the foreseeable
future. Thus the trustees continue to adopt the going concern basis of accounting in preparing
the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their
charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be
used.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions
have been met, the amounts can be measured reliably, and it is probable that income will be
received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has
been notified of the donation, unless performance conditions require deferral of the amount.
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a
third party, it is probable that settlement will be required and the amount of the obligation can be
measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the
expenditure was incurred.
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Killyleagh Community Shop Limited Company Limited By Guarantee
## Notes to the financial statements (continued)
For the Year ended 31 December 2025
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1 Accounting policies (continued)
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1.5 Expenditure (continued)
Expenditure on charitable activities includes the costs of services undertaken to further the
purposes of the charity and their associated support costs. Support costs are those functions
that assist the work of the charity but do not directly undertake charitable activities.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other
short-term liquid investments with original maturities of three months or less, and bank
overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Tax
As a charity, the company benefits from various exemptions afforded by tax legislation. It is
therefore not liable to corporation tax on income or gains falling due within those exemptions.
2 Critical accounting estimates and judgements
In the application of the charity's accounting policies, the trustees are required to make
judgements, estimates and assumptions about the carrying amount of assets and liabilities that
are not readily apparent from other sources. The estimates and associated assumptions are
based on historical experience and other factors that are considered to be relevant. Actual
results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised where the
revision affects only that period, or in the period of the revision and future periods where the
revision affects both current and future periods.
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3 Income from charitable activities
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Unrestricted Restricted Unrestricted Restricted
Funds Funds Total Funds Funds Total
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Shop sales 38,672 - 38,672 33,245 - 33,245
Other income 1,081 - 1,081 1,720 - 1,720
39,753 - 39,753 34,965 - 34,965
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Killyleagh Community Shop Limited Company Limited By Guarantee
## Notes to the financial statements (continued)
## For the Year ended 31 December 2025
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4 Expenditure on charitable activities
Charitable Charitable
activities activities
2025 2024
£ £
Direct costs
Light and heat 1,084 806
Rent 4,200 4,200
Water rates 212 217
Shop expenses 543 395
Volunteer expenses 779 130
Repairs - 3,240
Insurance 322 340
Donations 28,912 29,402
36,052 38,730
Share of support and governance costs (see note 5)
Support 420 320
Governance 360 240
36,832 39,290
Analysis by fund
Unrestricted funds 36,832 39,290
Restricted funds - -
36,832 39,290
5 Support costs allocated to activities
2025 2024
E £
Bank charges 386 320
Sundry 34 -
Governance costs 360 240
780 560
Analysed between:
Charitable activities 780 560
6 Net movement in funds
2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the
charity's financial statements 360 240
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## ee
Killyleagh Community Shop Limited Company Limited By Guarantee
11
## Notes to the financial statements (continued)
## For the Year ended 31 December 2025
7 Trustees None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## 8 Employees The average number of employees including the directors during the year was:
9
10
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2025 2024
2 £
Trustees 3_ —_—_ 3
— —
Taxation
The charity is exempt from taxation on its activities because all its income is applied for
charitable purposes.
Debtors
2025 2024
Amounts falling due within one year: £ £
Accrued income 39 -
— 39 a?
Creditors: amounts falling due within one year
2025 2024
£ £
Accruals and deferred income 550 2,240
550 2,240
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12 Restricted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
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At 1 At 31
January Incoming Resources December
2025 resources expended Transfer 2025
£ £ £ £ £
Restricted funds - - - - -
ee ——s
— SEI SESS a——————
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Killyleagh Community Shop Limited Company Limited By Guarantee
## Notes to the financial statements (continued)
For the Year ended 31 December 2025
## 12 Restricted funds (continued)
|||At 1||||||At 31|
|---|---|---|---|---|---|---|---|---|
|||January||Incoming|Resources|||December|
|||2024||resources|expended|Transfer||2024|
|||£||£|£|£||£|
||Restricted funds||-|-|_||=|-|
|13|Unrestricted funds||||||||
||The unrestricted funds ofthe charitycomprisethe unexpended balances ofdonations|||||||donations|
||andgrantswhichare|notsubject|tospecificconditionsby donorsandgrantors||||grantorsas||
||howtheymaybe used.||||||||
|||At 1||||||At 31|
|||January||Incoming|Resources|||December|
|||2025||resources|expended|Transfer||2025|
|||£||£|£|£||£|
||Unrestricted funds|3,844||39,753|(36,832)||-|6,765|
|||3,844||39,753|(36,832)||-|6,765|
|||At 1||||||At 31|
|||January||Incoming|Resources|||December|
|||2024||resources|expended|Transfer||2024|
|||£||£|£|£||£|
||Unrestricted funds|8,169||34,965|(39,290)||-|3,844|
|||8,169
34,965
(39,290)
-
eee||||||3,844
———|
14 Analysis of net assets between funds
||Unrestricted|Restricted||
|---|---|---|---|
||funds|funds|Total|
||2025|2025|2025|
||£|£|£|
|At 31 December 2025:||||
|Current assets/(liabilities)|6,765|-|6,765|
||6,765|-|6,765|
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Killyleagh Community Shop Limited Company Limited By Guarantee
## Notes to the financial statements (continued)
## For the Year ended 31 December 2025
## 14 Analysis of net assets between funds (continued)
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Unrestricted Restricted
funds funds Total
2024 2024 2024
£ £ £
At 31 December 2024:
Current assets/(liabilities) 3,844 - 3,844
3,844 ~ 3,844
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## 15 Related party transactions There were no disclosable related party transactions during the year (2024 - none).
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