Company registration number: N1066287 Cooneenicoonian Community Development Association Company limited by guarantee Unaudited financial statements 30 September 2023 Cooneenlcoonian Community Development Assoclation Company limited by guarantee Contents Page Directors and other information Directors report Accountants report Statement of comprehenaive income Statement of financial position Statement of changes in equity Notes to the financial statements 8-11 Cooneenlcoonian Community Development Association Company limited by guarantee Directors and other information Directors Mr Barry Boyle Mr Hugh Boyle Cllr Sheamus Greene Mrs Kathleen Haren Mr John James McDonnell Mr Philip McDonnell Mr James McQuaid o.rs Sarah Elizabeth Kyle Mr James Patrick Boyle Secretary ohn James McDonnell Company niimber N1066287 Registered office 10 Mullaghfad Road Cooneen Brookeborough Co Fermanagh BT75 ONL Business address 10 Mullaghfad Road Cooneen Brookeborough Co. Fermanagh BT75 ONL Accountants Crudden Dolan Limited 23-25 Darling Street Enniskillen Co. Fermanagh BT74 7DP Bankers Danske Bank POBOX 183 Donegall Square West Belfast BT16JS Page 1 Cooneenlcoonian Community Development Associatlon Company Ilmited by guarantee Directors report Year ended 30 September 2023 The directors wesent their ￿port and the unaudited financial statements of the company for the year ended 30 September 2023. Dlrectors The directors who served the company during the year were as follows: Mr Baiiy Boyle Mr Hugh Boyle Cllr Sheamus Greene Mrs Kathleen Haren Mr John James McDonnell Mr Philip Mct>onnell Mr James McQuaid Mrs Sarah Elizabeth Kyle Mr James Patrick Boyle Small company provlslons This report has been prepared in accordance with the provisions applic3ble to companies ent￿ed to the small companies exemption. This report was approved by the board of directors on 25 June 2024 and s￿ned on behalf of the board by.. Mr John James Mcoonnell Director Pago 2 Cooneenlcoonian Community Development Assoclatlon Company limited by guarantee Report to the board of directors on the preparation of the unaudited statutory financial statements of Cooneenlcoonian Community Development Association Year ended 30 September 2023 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cooneenlcoonian Coriimunity Development Association for the year ended 30 September 2023 which comprise the staiemant of comprehensive income, statement of financial position, statement of changes in equity and related notes from the company's acnounting records and from information and expSanations you have given us. As a practising member firm of Chartered Accountants Ireland we are subject to its ethical and other professional requirements which are detailed al www.charteredaccountants.ie. This report is made solely to the board of directors of Cooneenlcoonian Community Development Association, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solety to prepare for your aoproval the financial ststemenis of Cooneenlcoonian Community Development Association and state those matters that we have agreed to state to ihe board of directors of Cooneenlcoonian Community Development Association as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent pe., mitted by law, we do not accept or assume responsibility to anyonp other than Cooneenlcoonian Community Development Association and its board of directors as a body for our work or for this report. It is your duty to ensure that Cooneenlcoonian Community Development Association has kept adequaLe accounting records and to prepare statutory financial statements that give a trrue and fair view of the assets, liabilities, fi'nancial position and profit of Cooneenlcooiiian Community Development Association. You consider that Cooneenlcoonian Communty Development Association is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an aLidit or a review of the financial statements of Cooneenlcoonian Community Development Association. For this reason, we haiie not verified the accuracy or completaness of the accounting records or information and explanations you have given to us and we do noc therefore, express any opinion on the ststutory financial statements. Cruddei I an Limited Chartered Accountants & Registered Auditors 23-25 Darling st￿et Enniskillen Co. Fermanagh BT74 7DP 25 June 2024 Page 3 Cooneenlcoonian Community Development Association Company limited by guarantee Statement of comprehensive income Year ended 30 September 2023 2023 2022 Note Turnover Cost of sales Adrninistrative expenses 9,657 4,030 (4,465) (4,468) Operating proTIU(Ioss 5,192 {438) ProfiU(loss) before taxation 5,192 (438) Tax on profitl(loss) Profitl(loss} for the financial year and total comprehensive income 5,192 (438) All the activities of the company are from continuing operations. The notes on pages 8 to 11 form part of these financial statements. Page 4 Cooneenlcoonian Communlty Development Assoclation Cornpany limited by guarantee statement of financial positlon 30 September 2023 2023 2022 Note Fixed assets Tarigible assets 206,890 207,555 206,890 207,555 Current assets Cash at bank and in hand 19,527 13,670 19,527 13,670 Creditors: amounts falling due within one year (300) (300) Net current assets 19,227 13,370 Total assets less current liabilities 226, 517 220,925 Net assets 226,117 220,925 Capital and reserves Revaluation reserve Profit and loss account 194.282 31.83 194,282 26,643 Members funds 226,117 220,925 For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors responsibilities= The menbers have not r=quired the company to obtain an audit of financial statements for the year in question in ac.cordance with section 476., Tile directors ackiiowledge their responsibilities for complying with the requirenents of the Act with respect to accounting records and the preparation of financi(Jl statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. The notes on pages 8 to 11 form part of these financia5 statements. Page S Cooneenlcoonian Community Development Association Company limited by guarantee Statement of financial position (continued) 30 September 2023 These financial statements were approved by the board of directors and authorised for issue on 25 June 2024, and are signed on behalf of the board by: Mr Barry Boyle Director Company registration number.. N1066287 The notes on pages 8 to 11 forni part of these financial statements. Page 6 Cooneenlcoonian Communlty Developmont Association Company Ilmited by guarantee Statement of changes in equlty Year ended 30 September 2023 Revaluation reserve Profit and loss account Total At 1 October 2021 194,282 27,081 221,363 Profivlloss) for the year {438} Total comprehenstve income for the year (438) At 30 Septemb?r 2022 and 1 Octobec 2022 194,282 26,643 220,925 ProfiU(loss) for the year 5,192 5,192 Totsl comprehensive income for the year 5,192 5,192 At 30 September 2023 194,282 31,835 226,117 Page 7 Cooneenlcoonian Community Development Association Company limited by guarantee Notes to the financial statements Year ended 30 September 2023 General information The company is a private company limited by guarantee, registered in Northem Ireland. The address of the registered office is Cooneenlcoonian Community Development Association, 10 Mullaghfad Road, Cooneen, Brookeborough, Cc Fermanagh, BT75 ONL. statement of compliance These financial statements have been prepared in compliance with the piovisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. Accounting policies Basis of preparatio The financial statemenls have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measureo at fair value through profit Of loss. The finanpial statements are prepared in sterling, which is the functiona,, currency of the entity. Turnover Tumover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is reoognised when the significant risks and rewards of ownership have -patch of the goods)., the amount of revenue can be measured transferred to the buyer (usually on dee reliably,. it is probable that the associated economic benefits W¥ll flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Taxatlon The taxation expense represents tile aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of compreherisive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other ￿mprehenSive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover Usilig the tax rates and laws that have been enacted or substantively enacteo at the reporting date. Deferred tax is recognised in respect of ali timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that triey will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rate5 and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of ttrie timing difference. Page 8 Cooneenlcoonian Communlty Development Assoclation Company limited by guarantee Notes to the financial statements (continued) Year ended 30 September 2023 Tangible assets Tangible assets are initially recorded at cost. and are subseqiiently 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 accurn.ulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluats-on, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accum¥Jlated in capital and reserves in -t of that asset. Where a revaluation decrease eX￿edS the accumulated revaluation gains accumulated in capital and reserves in respect of thai asset, the eX￿SS shall be recognised in profit or loss. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Freehold property Fittj'ngs fixtures and equipment Not depreciated 15/. reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or re.sidual value of tangible assets, the depreciation is ￿vISed prospectively to reflect the new estimates. Impairnent A review for indicators of impairment is carried out at each reporting date, with the recoverable amount bein5 ests"mated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reve", sal at each reporting date. When it is not possible to estimate 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-generatiiig unit is the smallest identifiable group of assets tnat includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Pagè 9 Cooneenlcoonian Community Dèvelopment Association Company limited by guarantee Notes to the financial statements (continued) Year onded 30 September 2023 Financlal instruments A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a fi'nancing transaction, where it is recognised at the present value of the fljture payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the nvestment is subse4uently measured at fair value with changes in fair value recognised in profit or loss. All other su¢h investments are subsequently measured at cost less impairment. Other financial ir.struments, including derivatives, are initially recognised at fair value, unless payment foi an asset is deferred beyond nornial business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are SLSbsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instrumenls in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence o! impairment, an impairmenl loss is recognised in profit or loss immediately. For all equity instruments regardless of significan￿, and other financial assets that are indiv:-dually sigiiificant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Llmited by guarantee The company is limited by guarantee and as such does not have a share capital. in the event of a winding up the liability of the members is limited to £2. Profitlloss before taxation Profivloss before taxation is stated after chargingl(cred'ting): 2023 2022 Depreciation of tangible assets 665 782 Page 10 Cooneenlcoonian Community Devèlopment Association Company limited by guarantee Notes to the financial statements (continued) Year ended 30 September 2023 Tangible assets Freehold Fixtures, property fittings and equipment Total Cost At 1 October 2022 and 30 September 2n23 203,124 19,000 222,12A Depreciatlon At 1 October 2022 Charge for the year 14,569 665 14,569 665 At 30 September 2023 15,234 15,234 Carrying amount At 30 September 2023 203.124 3,766 206,890 At 30 September 2022 203,124 4,431 207,555 Creditors: amounts falling due within one year 2023 2022 Other creditors 300 300 Page 11 Cooneenlcoonian Community Development Association Company limited by guarantee The following pages do not forni part of the ststutory accounts. Cooneenlcoonian Community Development Assoclation Company limited by guarantee Detailed income statement Year ended 30 September 2023 2023 2022 Turnover Activites for generating funds Grants re￿iVed Other income 2,674 4,615 2,368 3,930 1QO 9,657 4,030 Gross profit 9,857 4,030 Gross profit percentsge 100.0° Overheads Administrative expenses Water rates Insur {786> {871} {300) {154) (6651 {130) (2,132) {304> (700) {310) (110) (782> (4,465) {4,468} Operatlng profitl(loss) 5,192 1438) Operating profiV(loss) percentage 53.80 10.90/0 ProfiU{loss) before taxatlon 5,192 (438)