Registered number: N1028953 CLONOE RURAL DEVELOPMENT AGENCY LIMITED DIRECTORS. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023 cAmcg O"PLAGAMM<GLJP4CHE¥ & CO.
Clonoe Rural Development Agency Limited Directors. Report and Financial Statements For The Year Ended 30 September 2023 Contents Page Company Infomiation Directors, Report Accountant's Report Income and Expenditure Account Balance Sheet Notes to the Financial Statements The following pages do not form part of the statutory accounts: Detsiled Incorne and Expenditure Account
Clonoe Rural Development Agency Limited Company Information For The Year Ended 30 September 2023 Directors Mr Adrian Hughes Mr Colin O'Neill Company Number N1028953 Registered Office 93 Washingbay Road Clonoe Coalisland Co. Tyrone BT71 4PU Accountants O'Hagan McGlinchey & Co 36 Dungannon Road Coalisland Dungannon Tyrone BT71 4HP Page I
Clonoe Rural Development Agency Limited Company No. N1028953 Directors. Report For The Year Ended 30 September 2023 The directors present their report and the financial statements for the year ended 30 September 2023. Directors The directors who held offfice during the year were as follows= Mr Adrian Hughes Mr Colin O'Neill statement of Dlrectors. Responslbllltles The directors are responsible for preparing the Dirertors. Report and the financial statements in accordance with applicable law and regulations. Cornpany law requires the director5 to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Prartice (United Kingdom Accounting Standards and applicable law}. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing the financial statements the directors are required to: select suitable accounting policies and then apply them consistently- make judgments and accounting estimates that are reasonable and prudent,. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom goveming the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Small Company Rule5 This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regirne within Part 15 of the Companies Art 2006. On behalf of the board Mr Adrian Hughes Director 25th June 2024 Page 2
Clonoe Rural Development Agency Limited Accountant's Report For The Year Ended 30 September 2023 Report to the dirertors on the preparation of the unaudited 5tstutory accounts of Clonoe Rural Development Agency Limited for the year ended 30 September 2023 In order to assist you to fulfil your duties under the Companies Act 2006, 1 have prepared for your approval the accounts of Clonoe Rural Development Agency Limited for the year ended 30 September 2023 which comprise the Income and Expenditure Account, the Balance Sheet and the lated notes from the accounting records and from information and explanations you have given to us. As a practising member of the Institute of Financial Accountants (IFA). we are subjert to its ethical and other professional requirements which are detailed at https=//www.ifa.org.uVabout-us/acting-in-the-public-interest/memberregulations. This report is made solely to the dirertors of Clonoe Rural Development Agency Limited, as a body. in accordance with the terms of our engagement letter dated 16 June 2023. Our work has been undertaken solely to prepare for your approval the accounts of Clonoe Rural Development Agency Limited and state those matters that we have agreed to state to the directors of Clonoe Rural Development Agency Limited, as a body. in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Clonoe Rural Development Agency Limited and its directors, as a body, for our work or for this report. It is your duty to ensure that Clonoe Rural Development Agency Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets. liabilities. financial position and profit or loss of Clonoe Rural Development Agency Limited. You consider that Clonoe Rural Development Agency Limited is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit of the accounts of Clonoe Rural Development Agency Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, expSS any opinion on the financial statements. Signed 25th June 2024 O'Hagan McGlinchey & Co 36 Dungannon Road Coalisland Dungannon Tyrone BT71 4HP Page 3
Clonoe Rural Development Agency Limited Income and Expenditure Account For The Year Ended 30 September 2023 2023 2022 Notes TURNOVER 322,239 120,269 GROSS SURPLUS 322,239 120,269 Administrative expenses (71,642) {55,965) OPERATING SURPLUS Intest payable and similar charges 250,597 (1,785) 64,304 (3,185) SURPLUS FOR THE FINANCIAL YEAR 248,812 61,119 The notes on pages 6 to 7 form part of these financial statements. Page 4
Clonoe Rural Development Agency Limited Balance Sheet As At 30 September 2023 2023 2022 Note5 FIXED ASSETS Tangible Assets 1.705,273 1,470,616 1.705,273 1,470,616 CURRENT ASSETS Debtors Cash at bank and in hand 46.069 39.591 10.537 1,839 85.660 12,376 Creditors: Amounts Falling Due Within One Year {88,647) (19,040) NET CURRENT ASSETS {LIABILThIES) 12,987) (6,664) TOTAL ASSETS LESS CURRENT LIABILITIES 1.702,286 1,463,952 Creditors: Amounts Falling Due After More Than One Year (23,363) {33,8411 NET ASSETS 1.678,923 1,430,111 Income and Expenditure Account 1,678,923 1,430,111 MEMBERS. FUNDS 1.678.923 1.430,111 For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Cornpanies Act 2006 relating to Small companie5. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subjert to the small companies, regime. On behalf of the board Mr Adrian Hughes Director 25th June 2024 The notes on pages 6 to 7 form part of these financial statements. Page 5
Clonoe Rural Development Agency Limited Notes to the Financial Statements For The Year Ended 30 September 2023 l. General Information Clonoe Rural Development Agency Limited is a private company. limited by shares. incorporated in Northern Ireland, registered number N1028953. The registered office is 93 Washingbay Road, Clonoe, Coalisland, Co. Tyrone, BT71 4PU. 2. Accounting Policies 2. 1. Basis of Preparation of Financial Statements The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section IA Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Aci 2006. 2.2. Turnover Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns. rebates and other similar allowances. Sale of goods Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods. Rendering of services Turnover from the rendering of services is recognised by reference to the stage of completion of the contrart. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Tumover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably. 2.3. Tangible Fixed A55ets and Depreciation Tangible fixed assets are measured at C05t less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases.. Freehold Plant & Machinery Fixtures & Fittings Fully Depreciated 25% Reducing Balance Average Number of Employees Average number of employees, including directors. during the year was= NIL {2022= NIL) Tangible Assets Land & Property Freehold Plant & Machinery Fixture5 & Fittings Total Cost As at l October 2022 Additions 1,423,598 246,417 57,424 243,029 1,724,051 246,417 As at 30 September 2023 1,670,015 57,424 243,029 1,970,468 Depreciation As at l October 2022 Provided during the period 57,424 196,011 11,760 253,435 11,760 A5 at 30 September 2023 57,424 207,771 265,195 Net Book Value As at 30 September 2023 1.670.015 35,258 1,705,273 As at l October 2022 1.423.598 47.018 1.470,616 Page 6
Clonoe Rural Development Agency Limited Notes to the Financial Statements (continued) For The Year Ended 30 September 2023 Debtors 2023 2022 Due within one year Trade debtors 355 2,476 8,061 VAT 45,714 46,069 10,537 6. Creditors: Amounts Falling Due Within One Year 2023 2022 Trade creditors Bank loans and overdrafts Accruals and deferred income 74,315 12,732 1,600 5,708 12,732 600 88,647 19,040 Credltors: Amounts Falllng Due After More Than One Year 2023 2022 Bank loans 23,363 33,841 23,363 33,841 8. Share Capital Page 7
Clonoe Rural Development Agency Limited Detailed Income and Expenditure Account For The Year Ended 30 September 2023 2023 2022 TURNOVER Sales 2,897 24,046 295,296 5,543 23,407 91,319 Rental income Grants and donations received 322,239 322,239 120,269 120,269 GROSS SURPLUS Administrative Expenses Rates 4.789 11.697 588 Light and heat Cleaning Premises insurance Computer software, consumables and maintenance Repairs, renewals and maintenance Facilitators Telecommunications and data costs Accountancy fees Professional fees 6,146 442 6.292 417 5,515 536 25.536 20,948 3,407 479 1.105 180 495 600 9.056 400 315 11.760 285 Subscriptions Bank charges Depreciation of fixtures and fittings Sundry expenses 400 319 15,670 230 (71,642) (55,965) OPERATING SURPLUS 250,597 64,304 Interest payable and similar charges Bank loan interest 1.785 3,185 {1,785) 13,1851 SURPLUS FOR THE FINANCIAL YEAR 248,812 61,119 Page 8