Company reglstratlon number: N1066287 Cooneenlcoonlan Community Development Association Company limited by guarantee Unaudited flnancial statements 30 September 2024 Cooneenlcoonian Community Development Association Company limited by guarantee Contents Page Directors and other information Directors report Accountsnts report Statement of comprehensive income Statement of financial position Statement of changes in equity Notes to the financial statements 8-11 Cooneenlcoonian Community Development Assoclatlon Company limited by guarantee Directors and other inforniation Directo Mr Barry Boyle Mr Hugh Boyle Cllr Sheamus Greene Mrs Kathleen Haren Mr John James McDonnell Mr Philip McDonnell Mr James McQuaid Mrs Sarah Elizabeth Kyle Mr Jarnes Patrick Boyle Secretary John James McDonnell Company number 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. Ferman8gh BT74 7DP Bankers Danske Bank POBOX 183 Donegall Square West Belfast BT16JS Page 1 Cooneenlcoonian Communlty Development Association Company limited by guarantee Dlrectors report Year ended 30 September 2024 The directors present their report and the unaudited financial statements of the company for the year ended 30 September 2024. Directors The directors who served the company during the year were as follows.. Mr Barry Boyle Mr Hugh Boyle Cllr Sheamus Greene Mrs Kathleen Haren Mr John James McDonnell Mr Philip McDonnell Mr James McQuaid Mrs Sarah Elizabeth Kyle Mr James Patrick Boyle Small company provlslons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. This report was approved by the board of directors on 27 June 2025 and signed on behalf of the board by.. Mr John James McDonnell Director Page 2 Coonaanlcoonlan Community Development Association Company limited by guarantee Report to the board of directors on the preparation of the unaudlted statutory financial statements of Cooneenlcoonian Community Development Association Year ended 30 September 2024 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 Community Development Association for the year ended 30 September 2024 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations 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 at 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 solely to prepare for your approval the financial statements of Cooneenlcoonian Community Development Association and state those matters that we have agreed to state to the 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 permitted by law, we do not accept or assume responsibility to anyone 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 adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Cooneenlcoonian Community Development Association. You consider that Cooneenlcoonian Community Development Association is exempt from the statutory audit requirement ft)r the year. We have not been instructed to carry out an audit or a review of the financial statements of Cooneenlcoonian Community Development Association. 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, express any opinion on the statutory financial statements. Crudden Dolan Limited Chartered Accountants & Registered Auditors 23-25 Darling Street Enniskillen Co. Fermanagh BT74 70P 27 June 2025 Page 3 Cooneenlcoonian Community Development Association Company Ilmited by guarantee statement of comprehensive income Year ended 30 September 2024 2024 2023 Note Turnover Cost of sales Administrative expenses 7,829 9,657 (8,340) (4,465) Operating Iloss)Iprof it (511) 5,192 {Loss)Iprofit before taxatlon (511) 5,192 Tax on (lossllprofit (Loss)Iprofit for the financlal year and total comprehensive income {511) 5,192 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 Community Development Association Company limited by guarantee Statement of financial position 30 September 2024 2024 2023 Note Flxed assets Tangible assets 206,325 206.890 206,325 206,890 Current assets Cash at bank and in hand 19,581 19,527 19,581 19,527 Creditors: amounts falling due within one year 1300) (300) Net current assets 19,281 19,227 Total assets less current Ilabllitles 225,606 226,117 Net assets 225,606 226,117 Capital and reserves Revaluation reserve Profit and loss account 194,282 31,324 194,282 31.835 Members funds 225,606 226,117 For the year ending 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors responsibilities.. The members have not required the company to obtsin an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordan￿ 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 financial statements. Page S Cooneenlcoonlan Communlty Development Association Company limited by guarantee Statement of financial position (continued) 30 September 2024 These financial statements were approved by the board of directors and authorised for issue on 27 June 2025, and are signed on behalf of the board by.. Mr Barry Boyle Director Company registration number.. N1066287 The notes on pages 8 to 11 form part of these flnancial statements. Page 6 Cooneenlcoonian Community Development Association Company limited by guarantee Statement of changes in equity Year ended 30 September 2024 Revaluation reserve Profit and loss account Total At 1 October 2022 194,282 26,643 220,925 (Loss)Iprofit for the year Total comprehensive income for the year 5.192 5.192 5,192 5,192 At 30 September 2023 and 1 October 2023 194,282 31,835 226,117 (Loss)Iprofit for the year (511) (511) Total comprehensive income for the year (511) (511) At 30 September 2024 194,282 31,324 225,606 Page 7 Cooneenlcoonian Community Development Association Company limited by guarantee Notes to the financial statements Year ended 30 September 2024 General Inforniatlon The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is Cooneenlcoonian Community Development Association, 10 Mullaghfad Road, Cooneen, Brookeborough, Co Fermanagh, BT75 ONL. Statement of compliance These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Starldard applicable in the UK and Republic of Ireland,. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling. which is the functional 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 recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goodsl,- the amount of revenue can be measured reliably,. it is probable that the associated economic benefits will flow to the entity,. and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the ststement of comprehensive 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 comprehensive 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 using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Page 8 Cooneenlcoonian Community Development Assoclatlon Company limited by guarantee Notes to the financial statements (continued) Year ended 30 September 2024 Tangible 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 carrying amount of an asset as a result of a revaluation, 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 accumulated in capitsl and reseNes in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capitsl and reserves in respect of that asset, the excess 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 Fittings fixtures and equipment Not depreciated 15°/0 reducing balance If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. Impairment A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal 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-generating unit is the smallest identifiable group of assets that includes the asset and generates rash inflows that are largely independent of the cash inflows from other assets or groups of assets. Page 9 Cooneenlcoonian Community Development Association Company limited by guarantee Notes to the financial statements {contlnued) Year ended 30 September 2024 Financial instruments A financial asset or a financial liability is recognised only when the company becomes a paty to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction. where it is recognised at the present value of the future 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 investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal 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 subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments 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 of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, 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 impairmenl not previousty been recognised. Limited 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. Losslproflt before taxation Losslprofit before taxation is stated after chargingl(crediting): 2024 2023 Depreciation of tangible assets 565 665 Page 10 Cooneenlcoonian Community Development Association Company limited by guarantee Notes to the financial statements (continued) Year ènded 30 September 2024 Tangible assets Freehold Fixtures, propety fittings and equipment Total Cost At 1 October 2023 and 30 September 2024 203,124 19,000 222,124 Depreciation At 1 October 2023 Charge for the year 15,234 565 15,234 565 At 30 Septem ber 2024 15,799 15,799 Carrying amount At 30 September 2024 203,124 3,201 206,325 At 30 September 2023 203,124 3,766 206,890 Creditors: amounts falling due within one year 2024 2023 Other creditors 300 300 Page 11 Cooneenlcoonlan Community Development Association Company Ilmlted by guarantee The following pages do not forni part of the statutory accounts. Cooneenlcoonlan Communlty Development Association Company limited by guarantee Detailed income statement Year Onded 30 September 2024 2024 2023 Turnover Activites for generating funds Grants received Other income 7,154 675 2,674 4,615 2,368 7,829 9,657 Gross profit 7,829 9,657 Gross profit percentage Overheads Admlnistratlve expenses Water rates Insurance Light and heat Repairs and maintenance Functions and class costs Accountancy fees Bank charges Depreciation of tangible assets (96) (1,732) (778) (2,761) {2,000) (300) (108) (565) {49) (1,640) (786) (871) {300) {154) (665) (8,340) (4,465) Operatlng (loss)Iprofit (511) 5,192 Operating (loss)Iprofit percentage 53.8% (Loss)Iproflt before taxation (511) 5,192