Company registration number: N1031979 Charity number: NIC100494 Creggan Country Park Enterprises Ltd Company limited by guarantee Unaudlted flnanclal statom8nts 29 February 2024
Creggan Country Park Enterprises Ltd Company limiled by guarantee Contents Page Directors and other information Directors report Independent examlnerfs report statement of Financial Activities statement of finan¢Sal position Notes to the flnanGlal statements 8-14
Creggan Country Park Enterprise5 Ltd Company limited by guarantee Directors and other information Dlrectors Michael Cooper Caolmhin Grumley John McL8ughlln Shauna Nixon James O'Doherty Caroline Ogilvie Secretary Mlchael Cooper Company number N1031979 Charlty number NIC100494 Reglstered offlce Creggan Country Park Westway Creggan Derry BT48 gNU Business address Creggan Country Park 196 Westway Creggan Derry BT48 9NU AGGountants McGroarty Mccaffety & Company Ltd 2 Carlisle Terrace Derry BT48 6JX Banker8 AIB {NI) Meadowbank Derry BT48 7TN Page 1
Creggan Country Park Enterprises Ltd Company limited by guarantee Directors report Year ended 29 February 2024 The directors present their report and the financial statements for the year ended 29 February 2024, Princlpal actlvlty The principal activity of the company is to provide an integrated and innovatlve faclllty for all sections of the community, which also enhances the economic, social and environmenial aspects of life for the multiply deprlved community of Creggan. Future development8 The company has fixed assets worth around 1 mllllon pounds with a significant land bank, At presgnt th& board is in negotatlons to sell a small parcel of land for around £150,000 whlch will be used to clear any current debts and allow a sum for future cashflow. They are also working on a visioning exerciselmaster plan with local council to refresh and relaunch the park on a large scale. This will include working with local councils, tourism officers, funders and others to optomise the various products on offer at the park 8nd enhance long-term sustalnablllty. Dlrectors The directors who served during the year are as stated below., Mlchael Cooper Caoimhin Grumley John McLaughlin Shauna Nlxon James O'Doherty C8roline Ogilvie The directors are responsible for preparing the fin8nc181 statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practlce. Dlrectors responslbllltl88 The directors of Creggan Country Park Enterprises Ltd for the purposes of company law are responsible for preparing the Directors, Annual Report and the flnancial statements in accordance with applicable law and United Kingdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year, which give a true and falr vlew of the state of affairs of the charitable company and of the incornlng resources and 8ppllcatlon of resources, including the income and expendltur8, of the charitable company for that period. In preparing these financial statements, the directors are requlred to., select suitable accounting policies 8nd then 8pply them consistently; observe the methods and principles in the Charities SORP IFRS 102); make judgements and èstimates that are reasonable and prudent., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and èxplained in thè financial statements prepare the financial statements on the going concern basis unless it is inappropriale to presume that the charitable company will continue in operation. Page 2
Creggan Country Park Enterprises Ltd Company limited by guarantee Directors report (continued) Year ended 29 February 2024 The directors are responsible for keeping adequate accounting records that dlsclose wlth reasonable accuracy at any time the financial position of the charitsble company and enable them to ensure that the financial statements comply with the Companles Act 2006. They are also responsible for safeguarding the as5els of the charitable company and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularities. In so far as the directors are aware.. there is no relevant information of which the charitable company's Independent examiner is unaware; and the dlrectors have taken 811 steps that they ought to have taken to make themselves aware of any relev£nt information and to establish that the independent examiner is aware of that information. Thls report is prepared in accordance with the special provisions of part 15 of the Companles Act 2006 relating to small companies. This report was approved and authorised for Issue by th8 Board on 11 September 2024 and signed on its behalf by Dlrec Director Page 3
Creggan Country Park Enterprises Ltd Company limited by guarantee Independent examinerfs report on the unaudited financial statements to the directors of Creggan Country Park Enterprises Ltd We report on the accounts of the company for the year ended 29 February 2024, which are set out on pages 5 to14. Respective responsibilitles of charlty dlrectors and examiner. As the charity directors you are responsible for the prep8ratlon of the accounts In accordance with the requirements of the Companies Act 2006. Havlng satisfied ourselves thal the charity is not subject to audit under company law, and Is ellglble for Independent examination, it is our responsibility to., examine the accounts under section 65 of the Charities Act 2008., 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 2008. state whether partlcular matters have come to our attention. Basls of independent examlner's report We have éxamined your chsrlty 8c¢ounts as requirèd under section 65 of thè Charities Act and our examinatlon was carried out in accordance with the general directlons glven by the Charlty 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 record5. It also included a conslder8tlon of any unusual items or disclosures in the accounts, and seeking explanations from you as charity directors concernlng gny such matters. Our role is to stata whether any material matters have come to our attention giving us cause to believe- that accounting records were not kept in accordance with section 386 of the Companies Act 2006., that the accounts do not accord with those accounting records., that the accounts do not Gomply wlth the accounting requirements of the Section 396 of the Companies Act 2006 and the methods and prln¢lples of the Charities Statement of Recommended Practice applicable to charities preparing their accounts In accordance with the Flnancial Reporting Slandard applicable in the UK and Republic of Ireland., that there is further information needed for proper understanding. Independent examlner's ststsment We can confirm that we are qualified to undertake the examination, our firm is both a member and regulated by Chartered Accountants Ireland, whlch is one of the listed bodies. We have completed our examlnatlon and have no concerns in respect of the matters listed above and, in connection with the following directlons of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attentlon. McGroarty, Mc 2 Carlisle Terrace Derry BT48 6JX Date: 11 September 2024 erty&Co Page 4
Creggan Country Park Enterprises Ltd Company limited by guarantee statement of Financial Actlvities for the Year ended 29 February 2024 Unrestrlcted Funds Restrlcted Funds 2024 2023 Income and Expenditure Incomlng Resources Grants & Sundry Income Total Incomlng Resourcas 68,891 166,102 234,793 244,168 68,691 186,102 234,793 244,168 Resources Expended Management & Administration 43,375 163,124 206,499 260,622 Total Resources Expended 43,375 163,124 206,499 260,622 Net Incomlng l (Outgoing) Resources 25,316 2,978 28,294 (16,454) Depreciation charge for year (38,304) 138,3041 139,214) 25,316 (35,3261 11Q,010) (55,6681 Balances brought forward 1 March 2023 {93,215) 899,687 806,472 862,140 Balances carrled forward 29 February 2024 14. (67,899} 864,361 796,462 806,472 The above amounts relate to continuing operations of the company, The company has no recognised gains and losses other than those included In the results above and therefore no separate statement of total recognised gains and losses has been presented. There is no difference beeen the net incoming resources for the year stated above and their historical cost equivalents. Page 5
Creggan Country Park Enterprises Ltd Company limited by guarantee Statement of financial position 29 February 2024 2024 2023 Note Flxed asset8 Tangible assets 10 865,748 901,894 885,748 901,894 Current assots Debtors Cash at bank and in hand 11 5,326 45,699 8,209 74,143 51,025 82,352 Credltors: amounts falling due wlthln ona yaar Net current IlabllStle8 12 (105,8311 (155,145) 154,806) (72,793) Total a66ets1088 current Ilabllltles 810,942 829,101 Credltors: amounts falllng due after more than one year 13 {14,480) (22,629) Net assets 796,462 806,472 Funds Restricted Unrestricted 864,361 167,899) 899,687 (93,215) Member8 funds 796,462 806,472 For the year ending 29 February 2024 the company was entitled to exemplion from audit under sectlon 477 of the Companies Act 2006 relating to small companies. Directors responslbllltl8S'. The members have not quired the company to obtain an audit of its financlal statements for the year in question in accordance wlth section 476., The direclors 8cknowledge their responsibilities for complying with the requirements of the Act with respect to accountlng records and the preparation of financial statements. These financlal statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 'Th8 Financi81 Reporting Standard applicable in the UK and Republic of Ireland,. The notes on pages 8 to 14 form part of these financial statements. Page 6
Creggan Country Park Enterprises Ltd Company limited by guarantee Statement of financial position (continued) 29 February 2024 These financial statements were approved by the board of directors and authorised for issue on 11 September 2024, and are signed on behalf of the board by.. Direct Dlrector Company reglstratlon number: N1031979 The notes on pages 8 to 14 form part of these financial statements. Page 7
Creggan Country Park Enterprises Ltd Company limited by guarantee Notes to the financial statements Year ended 29 February 2024 General Informatlon The company Is a private company limited by guarantee, registered In Northern Ireland, The address of the registered office is Creggan Country Park, WeSay, Creggan, Derry BT48 9NU. Accountlng Conventlon The significant accounting policles applled In the preparation of thes8 financl81 statements are set out below. These policies have been conslstently applied to all years presented unless otherwise stated. The charity constitutes a publlc benefit entity as defined by FRS102. The financial statements have been prepared In accordance with the accounting policies set out In notes to the accounts and comply with the charlty's governing document, the Charities Act {Northern Ireland) 2008 and Accounting and Reporting by Charities.. Statement of Recommended Practlce applicable to ch8ritles preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland publlshed In October 2019 ISORP 2019) and thè Companlos Act 2006. The financlal statements are prepared on a going concern basis under the historical cost convention, modlfi8d to Included certain items at fair value. The financlal statements are presented In sterling whlch is the functional currency of the charity. Income (i) Grants Grants represents all amounts received 8nd receivable during the year. Capital grants are released to the profit and loss account In the year in which they are received in line with the SORP Accounting & Reportlng by Charties 2015. Revenue grants are credited to the Statement of Flnancial Activilies in the year they are received. (li) Donatlons & administration income. Thls comprlses amounts received during th8 year, Expendlture (i) Direct Charitable Expenditure This represents all expendlture directly attributable to charitable causes. (li) Management & Administration This includes all other expenditure not directly allocated above and a portion of the overhead costs attributable to management and administration. Page 8
Creggan Country Park Enterprises Ltd Company limited by guarantee Notes to the fjnancial statements (continued Year ended 29 February 2024 Tanglble assets Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and Impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrylng amount of an asset as a result of a revaluation, is reccgnised in other comprehensive income and accumu18ted In capital and reserves, excepl to the extent It reverses a revaluation decrease of the same asset prevlously recognised in profit or loss. A decrease In the carrylng amount of an asset as a result of revaluation is recognised in other comprehensiv& income to the extent of any prevlously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves In respect of that asset, tha excess shall be recognlsed In profit or loss. Deprociation Depréciation is calculated so as to wrlte off the cost or valuation of an asset, less 118 residual value, over the useful eGonorniG life of that assgt as follows.. Short leasehold propety Plant and machinery Fittings fixtures and equipment stralght line straight liné reducing balanc8 1001. If there is an indication that there has beon a slgnlflcant changa in d8pr8ciation rate, us8ful lifa or residual value of tanglble assets, the deprecialion is revised prospectively to reflect the new estimates. Impairment A r8vlew for indicators of impalrment Is carrled out at each rgporting (fjate, with tha recoverable amount being estlmated where such indicators exist, Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prlor Imp8irments are also reviewed for possible reversal at each reporting date. When it is not possible to estlmate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unlt Is the smallest identifiable group of assets that Includes the asset and generates cash inflows that are largely independent of the cash Inflows from other assets or groups of assets. Limited by guarantee The company does not have a share capital and is Ilmited by guarant8e. Page 9
Creggan Country Park Enterprises Ltd Company limited by guarantee Notes to the financial statements (continued) Year ended 29 February 2024 Income 2024 2023 R8Strlcted Income Derry City and Strabane District Council H81Ifax Foundation Community Foundation Nl DEARA National Herltage -CRESI Community Fund National Heritage Hubbub-community Fridge Dept for Communities Dept for Communitl8s-Build work Ulster Communlty Foundatlon BBI Warms Hub Project Keep Nl Beautiful Keep Nl Tidy 1,825 11,374 3,792 11,825 25,785 6,400 6,705 22,106 2,730 14,700 2,938 48,049 3,700 73,334 29,994 1,500 2,400 3,000 1,000 12,290 71,047 5,544 16,220 166,102 212,156 Unrestrlcted Incomè Wat8r Sports, Project Income and Room Hire 68,691 32,012 68,691 32,012 Total Income 234,793 244,168 Restricled Funds Funds recelved whlch are earmarked by th8 Funder for specific purposes, Such purposes are within the overall aims of the organlsatlon, Unrestricted Funds Funds which are expendable at the discretlon of the company in furtherance of the aims of the charity, In addltlon funds may be held In order to flnance capital investment and worklng capltal, Page 10
Creggan Country Park Enterprises Ltd Company limited by guarantee Notes to the financial statements (continued) Year ended 29 February 2024 Resourc88 Expended Unrestricted Funds Re8trlcted Funds Total 2024 Total 2023 Managemont & Admlnlstratlon Wages & salaries National herilage costs Rent & rates Llcences DFC Bullding works Hubbub expenses Insurance Security Mapplng Light & Heat Repairs & maintenance Resourc& & outdoor activlty spend Post8ge, stationery & advertising Brochures & publicity Telephone Event & catering servlcas Keep Nl Tidy Hallf8x Foundation project Ulster Community Foundatlon Community Foudatlon Nl Urban Experience Water quality General expenses KNIB-Live Here Love Her8 Accountancy Bank Charges Loan interest 15,462 64,235 25,785 79,697 25,785 1,330 3,29D 5,544 12,290 7,705 3,116 79,771 48,049 1,665 4,484 29,994 3,700 7,033 2,893 2,400 8,829 7,446 244 1,569 724 2,998 5,207 1,000 20,513 1,500 1,330 3,290 5,544 12,290 7,705 3,116 5,943 5,943 248 4,393 1,011 3,449 4,389 248 4,393 1,011 2,000 1,449 4,389 11,374 16,220 4,070 11,374 16,220 4,070 8,705 14,700 1,183 3,000 2,640 1,439 936 11,825 11,825 850 850 2,136 1,147 687 2,136 1,147 687 43,375 163,124 206,499 260,622 Page 11
Creggan Country Park Enterprises Ltd Company limited by guarantee Notes to the financial statements (continued) Year ended 29 February 2024 Employee numbers The average number of p8rsons employed by the company during the year amounted to 612023: 4). The aggregate payroll costs incurred during the year were.. 2024 2023 Wages and salaries 79,897 79,771 79,697 79,771 Net Incomlng l(outgolng) resource8 for the year Net incomlngl loutgoing} resources is stated after charglngl(cr6ditingl.' 2024 2023 Deprecialion of tanglble assets 38,304 39,214 10. Tanglble assets Short leasehold propety Plant and Fixtures, mach5nery fittin9s and equlpment Total Cost At 1 March 2023 Additions 1,397,839 3,181 445,444 1,846,264 2,160 2,160 At 29 February 2024 Depreclatlon At 1 March 2023 Charge for the year 1,397,639 3,181 447,604 1,848,424 597,098 27,953 3,181 344,093 10,351 944,372 38,304 At 29 February 2024 Carrylng amount At 29 February 2024 At 28 February 2023 625,051 3,181 354,444 982,676 772,588 93,160 865,748 800,541 101,351 901,894 Page 12
Creggan Country Park Enterprises Ltd Company limited by guarantee Notes to the financial statements (continued) Year ended 29 February 2024 11. Debtors 2024 2023 Trade debtors Other debtors 4,028 1,298 6,911 1,298 5,326 8,209 12. Credltors: amounts falling due wlthln one year 2024 2023 Bank loans and overdrafts Social security and oth8r taxes Other creditors 9,011 5,543 91,277 10,997 3,398 140,750 105,831 155,145 13. Creditors: amounts falllng dua after more than one year 2024 2023 Bank loans and overdrafts 14,480 22,629 14. Movement in funds At Oq.03.2023 Incomlng resources Outgolng resources At 29.02.2024 Restrlcted funds: Funds 899,687 166,102 (201,428) 864,361 To181 restricted funds 899,687 166,102 1201,428) 864,361 Unrestrlcted funds: General funds (93,2151 (93,2151 68,691 (43,375) (67,899) Total unrestricted funds 68,691 {43,375) (67,899> Total funds 806,472 234,793 (244,803) 796,462 15. Related party transactions There were no related paty transactions during the period under review Page 13
Creggan Country Park Enterprises Ltd Company limited by guarantee Notes to the financial statements (continued) Year ended 29 February 2024 16. Controlllng party Controlling Interest rests with the directors. 17. Taxation No charge to taxation is due as the company has charitable status. Page 14