AGE NORTH DOWN & ARDS
(Private company limited by guarantee without share capital)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT
| Note 2 Charitable Activities 3 5 Reconciliation of funds Total funds brought forward Net income/(expenditure) Transfers between funds Net movement in funds Total funds carried forward Expenditure on: Total expenditure: Income from: Total Income Donations and Legacies Charitable Activities |
Year to Year to Unrestricted Restricted 31-Mar-25 31-Mar-24 Funds Funds TOTAL TOTAL £ £ £ £ 2,564 - 2,564 8,551 33,878 109,387 143,265 110,452 36,442 109,387 145,829 119,003 62,774 113,264 176,039 136,478 62,774 113,264 176,039 136,478 (26,332) (3,877) (30,209) (17,475) - - - - (26,332) (3,877) (30,209) (17,475) 61,657 19,321 80,978 98,453 35,325 15,444 50,769 80,978 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year.
All incoming resources and resources expended derive from continuing activities.
The notes on page 11 to 17 form an integral part of these accounts
9
AGE NORTH DOWN & ARDS
(Private company limited by guarantee without share capital)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| BALANCE SHEET | |||||
|---|---|---|---|---|---|
| As at 31 March 2025 | |||||
| 2025 | 2024 | ||||
| Note | £ | £ | |||
| Fixed Assets | |||||
| Tangible Assets | 13 | 3,701 | 4,230 | ||
| 3,701 | 4,230 | ||||
| Current Assets | |||||
| Debtors | 7 | 8,794 | 434 | ||
| Cash at bank | 41,009 | 81,242 | |||
| 49,802 | 81,676 | ||||
| Liabilities | |||||
| Creditors:amounts falling due within one year | 8 | (2,735) | (4,928) | ||
| Net Current Assets | 47,067 | 76,748 | |||
| Total Assets Less Current (Liabilities) | 50,769 | 80,978 | |||
| Net assets | 50,769 | 80,978 | |||
| Funds | |||||
| Restricted | 15,444 | 19,321 | |||
| Unrestricted | 35,325 | 61,657 | |||
| TOTAL FUNDS | 11 | 50,769 | 80,978 |
The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The Trustees consider that the company is entitled to exemption from the requirment under the provisions of section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirments of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The financial statements were approved by the board directors on 28/10/2025 and were signed on their behalf by:
Gerard O'Boyle Director
The notes on page 11 to 17 form and integral part of these accounts
10
AGE NORTH DOWN & ARDS
(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE ACCOUNTS
1 Accounting policies
(a) Basis of preparation of financial statements
The financial statements have been prepared in accordance with 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) - (Charities SORP (FRS 102) the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
AGE North Down & Ards meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised as historical cost or transaction value unless otherwise stated in the relevant accounting policy.
(b) General information
AGE North Down & Ardsis a private company limited by guarantee. The company is incorporated in Northern Ireland and has the company number NI036126 The registered office address and principal place of business is 24 Hamilton Road, Bangor, County Down, 24 Hamilton Road, Bangor, BT20 4LE. The principal activity of the companyare to advance the interests and be for the benefit of the elderly in the area known as North Down and Ards, and to assist others in the pursuance of these activities. The AGEnda Strategy 2021 - 2023 sets out the following.
The financial statements are presented in Sterling (£). The level of rounding is £1.
(c) Company status
The company is a company limited by guarantee. The members of the company are the Trustees names on page 1. In the event of the company being wound up the liability in respect of the guarantee is limited to £1 per member of the company.
(d) Going concern
After reviewing the charities forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing it financial statements.
(e) Income
All income is recognised once the company has entitlement to the income. It is probable that the income will be received and the amount of income receivable can be measured reliably. Donated services or facilities are recognised when the company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the company of the item is probable and the economic benefit can be measured reliably In accordance with the Charities SORP (FRS 102).
11
AGE NORTH DOWN & ARDS
(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE ACCOUNTS (continued)
(e) Income continued
On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the company which is the amount the company would be willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of donation.
Income tax recoverable in relation to investments income is recognised at the time the investment income is receivable.
(f) Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party. It is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The cost of each activity are made up of the total direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on the basis consistent with the use of resources.
Support costs are those costs incurred directly in support of expenditure on the objects of the company.
(g) Tangible fixed assets and depreciation
A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. Shortfalls between the caring value of the fixed assets and their recoverable amounts are recognised as impairments, impairments losses are recognised in the Statement of financial activities incorporating income and expenditure account.
Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation if provided at rated calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
- Equipment 15% Reducing Balance - Land and Buildings 20 year lease term
12
AGE NORTH DOWN & ARDS
(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE ACCOUNTS (continued)
(h) Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the bank.
(i) Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
(j) Cash at Bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit of similar account.
(k) Liabilities and provisions
Liabilities are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that the transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount at the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of these amounts, discounted at the pre-tax discounted rate that reflects the risks specific to the liability. The unwinding of the discount is recoginsed within the interest payable and similar charges.
(l) Financial instruments
The company only has financial assets and financial liabilities of a kind that qualifies as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
(m) Fund accounting
General funds are unrestricted funds which are available for the use at the discretion of the Trustees in the furtherance of the general objectives of the company and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with the specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
13
AGE NORTH DOWN & ARDS
(Private company limited by guarantee without share capital)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE ACCOUNTS (continued)
| 2 **3 ** |
Income from Donations and Legacies Donations & Subscriptions Grants & Other income Interest received Totals 2025 Totals 2024 Income from Charitable Activities South Eastern Health & Social Care Trust NIHE - Supporting People National Lottery Totals 2025 Totals 2024 Community Foundation for NI |
2025 Unrestricted Restricted Funds Funds TOTAL £ £ £ 1,210 - 1,210 - - - 1,355 - 1,355 2,564 - 2,564 2,551 6,000 8,551 2025 Unrestricted Restricted Funds Funds TOTAL £ £ £ 33,878 - 33,878 - 46,466 46,466 - 42,921 42,921 - 20,000 20,000 33,878 109,387 143,265 31,330 79,122 110,452 |
2024 |
|---|---|---|---|
| TOTAL £ 1,088 6,000 1,463 |
|||
| 8,551 | |||
| 2024 | |||
| TOTAL £ 31,330 44,847 34,275 - |
|||
| 110,452 | |||
14
AGE NORTH DOWN & ARDS
(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE ACCOUNTS (CONTINUED)
| **4 ** | Staff Costs and Numbers Gross Wages and Salaries |
2025 2024 £ £ 102,532 81,681 102,532 81,681 |
2024 |
|---|---|---|---|
No employee received emoluments of more than £60,000 (2024: None)
The average monthly number of employees during the year, calculated on the basis of full time equivalents, was as follows:
| **5 ** | Expenditure Charitable Activities Advertising & sundry expenses Travel Subscriptions Legal, professional & consultancy Project costs Bank charges Leasing payments Depreciation Staff costs Casual wages & staff training Office costs Repairs & Maintenance Accountancy costs Total 2025 Totals 2024 |
2025 Number 5 2025 TOTAL £ 1,206 396 1,548 5,835 26,031 89 603 529 102,532 5,473 23,980 2,777 5,039 176,039 480,758 |
2024 Number |
|
|---|---|---|---|---|
| 5 | ||||
| 2024 | ||||
| Unrestricted Restricted Funds Funds £ £ 1,206 - 396 - 1,032 516 4,354 1,482 35 25,996 89 - 603 - 529 - 22,170 80,362 5,194 279 20,113 3,867 2,014 763 5,039 - |
TOTAL £ 500 154 955 8,221 19,630 114 758 1,408 81,681 91 19,762 868 2,336 |
|||
| 62,774 113,264 |
136,478 | |||
| 137,353 343,405 |
15
AGE NORTH DOWN & ARDS
(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE ACCOUNTS (CONTINUED)
6 Trustees remuneration & expenses
During the year, no Trustees received any remuneration (2024 - £NIL). During the year, no Trustees received any benefits in kind (2024 - £NIL).
During the year, no Trustees received any reimbursement of expenses (2024 - £NIL).
| 7 **8 ** |
Trade debtors Total 2025 Creditors: amounts falling due within one year Accruals & Deferred Income HMRC PAYE & Pension Other Creditors Loans Total 2025 Debtors |
2025 £ 8,794 8,794 2025 £ 1,648 339 749 - 2,735 |
2024 £ 8,577 |
2024 |
|---|---|---|---|---|
| 8,577 | ||||
| 2024 £ 18,906 4,009 227 74 |
2024 | |||
| 23,216 |
9 Independent examiner's remuneration
The independent Examiner's remuneration amounts to an Independent Examination fee of £360 (2024 - £240)
10 Related party transactions
There were no related party transactions during the year.
16
AGE NORTH DOWN & ARDS
(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
NOTES TO THE ACCOUNTS (continued)
11 Statement of funds - current year
| **11 ** | Statement of funds- current year | ar | ||
|---|---|---|---|---|
| 12 **13 ** |
Balance at 1 April 2024 Restricted funds £ NIHE (Supporting People) 52 Community Foundation for NI 13,269 Halifax 6,000 National Lottery - Total restricted funds 19,321 Unrestricted funds General 61,657 61,657 Total of funds - current year 80,978 Statement of fund- prior year Balance at 1 April 2023 67,982 30,471 98,453 Fixed Assets COST Additions At 31 March 2025 DEPRECIATION Charge for the year At 31 March 2025 NET BOOK VALUE At beginning of period At 31 March 2025 Total Unrestricted funds At 1 April 2024 Total of funds - prior year Total unrestricted funds Total restricted funds At 1 April 2024 |
Balance at 1 April 2024 |
Income Expenditure Transfer in/out |
Balance at 31 March 2025 |
| £ £ £ 46,466 (46,518) - 42,921 (56,190) - - (6,000) - 20,000 (4,556) - |
£ - - - 15,444 |
|||
| 19,321 61,657 |
89,387 (113,264) - 36,442 (62,774) - |
15,444 35,325 |
||
| 61,657 | 36,442 (62,774) - |
35,325 | ||
| 80,978 | 125,829 (176,039) - |
50,769 | ||
| Balance at 1 April 2023 |
Income Expenditure Transfer in/out |
Balance at 31 March 2024 |
||
| 67,982 30,471 |
33,881 (40,206) - 85,122 (96,272) - |
61,657 19,321 |
||
| 98,453 | 119,003 136,478 - - |
80,978 | ||
| Land & Property Furniture and Equipment £ 20,689 64,362 - - 20,689 64,362 20,689 60,132 - 529 20,689 60,661 - 4,230 - 3,701 17 |
Totals £ 85,051 - |
|||
| 85,051 | ||||
| 80,821 529 |
||||
| 81,350 | ||||
| 4,230 | ||||
| 3,701 | ||||