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:
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select suitable accounting policies and then apply them consistently;
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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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