COMPANY REGISTRATION NUMBER: N1028651 CHARITY REGISTRATION NUMBER: 100769 Galbally Youth & Community Association Company Limited by Guarantee Unaudited Financial Statements 31 August 2023 BRIAN ROBINSON ACCOUNTANCY LTD Chartered Accountants 30 Main Street Castlecaulfield Dungannon Co Tyrone N Ireland BT70 3NP
Galbally Youth & Community Association Company Limited by Guarantee Financial Statements Year ended 31 August 2023 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements 10 The following pages do not form part of the financial statements Detailed statement of financlal activities 19
Galbally Youth & Community Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 August 2023 The trustoes, who are also the dlrectors for the purposes of company law, present their report and the unaudiled financial staterllents of the charily for the year ended 31 August 2023. Reference and admlnlstrative detalls Registered charlty name Galbally Youth & Community Assoclatlon Charlty reglstratlon number 100769 Company règl8tratlon numbor N1028651 Principal off Ice and reglstered 36 Lurgylea Road office Galbally Dungannon BT70 2NX Tyrone The tru3tee3 Mr Mlchael O'Hagan Mr Martln Rafforty Mr Brendan Kane Mr Brian Kelly Mr Paul Kelly Mr Michael Mcveigh Mr Fergal O'Donnell Company sècrotary Mr Noel McGeary Independènt oxamlner Brlan Roblnson Accountancy Ltd 30 Main Street Castlecaulfield Dungannon Co Tyrone N Ireland BT70 3NP Structurey governance and management Galbally Youth & Communlty Assoclation Is a company limited by guarantee governed by its memorandum and artlcles of associatlon whlch w8s adopled on 24th October 1995. It is registered with the Charily Commission for Northern Ireland. The trustees listed above manage and govern the organlsatlon and all declslons are made at committee level. Martin Rafferty acts as Chairperson, Noel McGeary as Secretary and Michael O'Hagan as Treasurer. In addltion to the trustees the organisation relies on the assistsnce of approximalely fifty volunteers In relatlon to fundraislng, planning and delivering a range of local aclivities and events,
Galbally Youth & Community Association Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) (continued) Year ended 31 August 2023 Objectives and actlvltles In sottlng our objectives and pSannlng our activities for the year the Tru8lees have given careful Conslderatlon lo the Charity Corllmission for Northern Ireland's guidance on publlc benefit to ensure that the activilies have helped the charity achieve it's purposes and provide a publlc benefit to the beneficiarles. The Charitable Objectives of our organisation are as follows. The advancement of citizenship or community development The advancement of education The prevention or rellef of povety The advancement of the arts, culture. heritage or science The relief of those In need by reason of youth, age, ill health, disability, financlal hardshlp or other disadvantage The maln actlvltles we undertook In thls period inGlude5, Providlng leadership and management for Galbally Community Centre as a central rural hub providlng a range of services for people living in Galbally, Cappagh and surroundlng communities. Ensure the long term sustainabillty of Galbally Communlly Centre and ensure that it is malntalned to 8 high standard for communltylpubllc use. Working In partnershlp with other local organisations (e.g. Galbally Pearses GAC, Paddington Playgroup and Out of School Club, Cappagh Vlllage Regeneration Group, Country Club, Galbally Youth Club, Galbally Friends Fund) to address local issues and improve quality of life for local people. Working in partnership with ststutory agencies and other community and voluntary sector organlsations to add value to the range and quality of services and activities provlded for local people. Develop the knowledge, skills and capacity of local people through training and educatlonal activltles. Improve health and wellbeing of local people through a range of innovative health and wellbeing programmes. strateglc report The following sections for achlevements and performance and financial review form the strateglc report of the charity.
Galbally Youth & Community Association Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (contlnued) Year ended 31 August 2023 Achlevements and performance Main achievements this period include,. Delivery of Game Changer, a programme targetlng young people aged 16-25 In areas of personal development, employability and good relations. Commenced delivery of Year 1 on new Education Authority Speclfication for Torrent DEA, worklng in partnership wlth Sl. Patrick's Youth Club. Donaghmore. Initial work undertaken to prepare for construction works to see bulldlng on new Youth Annexe at Galbally Community Centre. Range of health and wellbeing talks and seminars host@d. Blood Transfijsion Service hosted. Contlnued malntenance and management of Galbally Community Centre, provldlng hlgh quality community facilities. New Coffee Shop opened on site, creatlng local employment and enhancing vlsltor experlence. Peak Fltness (gym faL'llity) continues to go from strength 10 strength, adding additional classes and growing membership, improving health outcomes and reducing health Inequalities. Walking for Health Group for 504 still going strong and undertook a range of woekly walklng trip8, Gymnastics classes and varlous dance and fltness classes contlnued on a weekly basis. Provided facllltles for contlnued use by local Playgroup and Afterschool Club,, Galbally P6arses GAC. Cannyman Community Ar15', Galbally Country Club,. Galbally Parent and Toddler. Galbally Youth Club. Contlnued fundraislng to ensure that the organls8tlon remain5 Sustainable and to facllitate all necessary m8intenance and upkeep of Galba11y Community Centrg, Financial revi6W The flnancial statements for the year were presented al the AGM and accepted and approved by the trustees. Brian Robinson Accountancy Ltd has carried out a revlew of these accounts and has completed an Independent examlner's report on the accounts. The financlal performance was in line with th8 truslees, 8xpectatlons and the charitable company remalns In a Sound financial position at the year end, The results for the year are set out in detail on pages 7 10 19. These show an overall surplus for the year of £11,687. At 31 August 2023. the net assets of the charitable Company, including property, smounted to £632,187. The net currenl assets amounted to £120.013, The trustees can confirm that the charity does not hold any funds that were materially in deficit al 31 August 2023.
Galbally Youth & Community Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 August 2023 The trustees, annual report and the strategic r6port were approved on 30 May 2024 and signed on behalf of the board of trustees by.. Mr Michael O'Hagan Director
Galbally Youth & Community Association Company Limited by Guarantee Independent Examiner's Report to the Trustees of Galbally Youth & Community Association Year ended 31 August 2023 I report lo the trustees on my examination of the financial statements of Galbally Youth & Community Assoclation ('the charity,) for the year ended 31 August 2023. Responsibilitios and basis of report As the trustees of the company (and also Its directors for the purposes of company law) you are rosponsible for the preparation of the financial statements in accordance wilh the requlrements of Charities Act (Northern Ireland) 2008 (the '2008 Act,) and the Companles Act 2006 ('the 2006 Act'l. You are satlsfled that the accounts of the company are not required by charity or company law to be audlted and have chosen Instead to have an independent examlnalion. Havlng satlsfied myself that the accounts of the company are not required to be audlted under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examlnatlon of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examlnation I have followed the general Directions given by the Charity Commisslon for Northern Ireland under section 65(9)(b) of the 2008 Act. Indapendont oxamlner's statement I have CMpleted my examination. I conflrm that no matters h8ve come to my attention in connection with my examinallon giving me cause to believe that In any mater181 respect., accountlng records were not kept In respect of the charity as required by section 386 of the 2006 Acl. or the financl81 st2lem6nts do not accord wlth those records. or the flnancial statements do not comply wlth the accounting requlrements of sectlon 396 of the 2006 Act other than any requirement that the accounts glve 8 'true 2nd fair, vlew which is not a matter considered as part of an independent examlnation,, or the financial statements have not been prepared In accordance with the methods and principles of the Statement of Recommended Practlce for accountlng and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporling Standard applicable in tho UK and Republlc of Ireland {FRS 102).
Galbally Youth & Community Association Company Limited by Guarantee Independent Examiner's Report to the Trustees of Galbally Youth & Community Associatlon (Gonllnugd) Year ended 31 August 2023 I confirm that there are no other matters to which your attenlion should be drawn to enable a proper understanding of the accounts to be reached. n Roblnson Accountanoy Ltd Independent Examlner 30 Main Street Castlecaulfield Dungannon Co Tyrone N Ireland BT70 3NP 30 May 2024
Galbally Youth & Community Associatioh Company Limited by Guarantee statement of Financial Activitles (including Income and expenditure account) Year ended 31 August 2023 2023 Restricted funds Total funds Unrestricted funds Notg Income and endowments Donations and legacies Charitable activlties 23,C03 69,417 152,283 175,286 69,417 Total Income 92,420 152,283 244,703 Expendlture Expenditure on charitab16 activities Total expendlture 63,550 63,550 169.466 233,016 169,466 233,018 Net {expendituro)Ilncome and net movement In funds 28,870 (17,183) 11,687 Reconclllatlon of fund8 Total funds brought forward Total funds carrled forward 103,973 132,843 516,527 620,500 632,187 499,344 The statement of financlal activities includes all galns and Ios8es recognlsed in the year. All Income and expendlture derive from continulng activities. The notes on pages 10 to 17 fomi part of thèse flnanclal statements.
Galbally Youth & Community Association Company Limited by Guarantee Statement of Financial Position 31 August 2023 2023 Nate Flxod assets Tangible fixed assets 14 989,768 Curront assets Debtors Cash at bank and in hand 15 19,562 129,257 148,819 Credltors: amounts falllng due wlthln one year Net current assets 28,806 120,013 1,109.781 Total assets less current Ilabilltle8 Crodltor8: amounts falling due after more than one year Net a88ets 17 477,594 632,187 Fund8 of th& charlty Restricted funds Unrestricted funds 499,344 132,843 632,187 Total charlty fund8 For the year ending 31 August 2023 the charity was entltled to exemption from audlt under section 477 of the Compsnies Act 2008 relating to small companies. Dlrectors, responsibilities.. The members have not required the Gompany to obtain an audit of its financlal statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complylng wlth the requlrem6nt8 of the Act with respect to accounting records and the preparation of financial statements. These financial stalements have been prepared in accordance wlth the provisions applicable to companles subject to the small companies, regime. The statement of financial position continues on the following page. The notes on page8 10 to 17 form part of thes8 financial statements.
Galbally Youth & Community Association Company Limited by Guarantee Statement of Financial Position (conunuedj 31 August 2023 These financial statements were approved by the board of trustees and authorised for issue on 30 May 2024, and are signed on behalf of the board by: Mr Mlchael O'Hagan Director The note8 on page8 10 to 17 form part of these flnanclal 6tatements.
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Flnancial Statements Year ended 31 August 2023 General information The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. Tlie address of the reglstered office is 36 Lurgylea Road, Galbally, Dungannon, BT70 2NX, Tyrone. Statement of compllance These financial statements have been prepared in compliance with FRS 102, 'The Financlal Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practlc6 applicable to charitl6s preparing their accounts in accordance with the Financial Reportlng Standard applicable In the UK and Republic of Ireland (FRS 102) (Charities SORP {FRS 102)) and the Companies Act 2006, Accountlng policies Basis of preparation The flnanc181 statements have been prepared on the historical cost basis, as modified by th8 revaluatlon of certain financial assets and liabllltles and Investment properlies measured at fair value through income or expenditure. The flnanclal statements are prepared in sterling, whlch is the functional currency of the entily, Golng concern There are no materlal uncertalnties about the charlty's ablllty to contlnue. Judgemants and key 80urce8 of estlmatlon uneArtalnty The preparation of the financial ststements requires manag8ment to m8ke Judgements, estimates and assumptions that affect th8 amounts reported, These estimates and Judgements are conlinually revlewed and are based on experience and other factors, Includlng expectallons of future events thal are believed to be reasonable under the clrcumstanc6s. Fund accountlng Unrestricted ndS are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for partlcular future project or commitment, Reslricted funds are subjected to restrlctlons on their expenditure declared by the donor or through the lerm5 of an appeal, and fall Into one of two sub-classes: restricted income funds or endowment funds. 10
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (Gontlnued) Year ended 31 August 2023 Accounting pollcies (contlnugd) Incoming rasource5 All Incoming resources are included in the stalement of financlal activities when entitlement has passed to the charlty,. It is probable that Ihe economic benefits associated with tho transactlon will flow to the charity and the amount can be reliably measured. The following specrflc policies are applied to partlcular categories of income,. income from donations or grants is recognlsed when there 18 evidence of entitlement to the gift, recelpt 15 probable and Its amount can be measured reliably. legacy Income is recognlsed when receipt Is probable and enlltlement is established, Income from donated goods is mea8ured al the fair value of the goods unless thls Is impractical to measure reliably, in which case the value Is derived from the cost to the donor or the estlmated resale value. Donated faclllties and servi8 are recognised in the accounts when received if Ihe value can be reliably measured, No amounts are Included for the contribution of general volunteers. Income from conlracts for the supply of servlces Is recognised with th8 delivery of the contracted service. Thls is classlfied a8 unrestrict6d funds unless there Is a contractual requirement for it to be spent on a parllcular purp08e and returned rf unspent, in which case It may be regarded as r88trl¢ted, Resourcos expended Expenditure Is recognised on an accruals basls as a Ilablllty Is Incurred, Expendlture includes sny VAT whlch Gannot be fully recovered, and Is dassified under headlngs of the statement of flnanclal activities to whlch It relates.. expenditure on raising funds includes the costs of all fundralslng actlvltles, events, non-charitable trading activities, and the sale of donated goods. expendlture on cliaritable activities includes all costs incurred by a charity in undGrlaklng activilies that further ils charitable alms for the beneflt of ils beneficiarles, including those support costs and costs relatlng tc the governance of the charity apportioned lo charitable actlvllies. other expenditure Includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activllies. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activlly. Shared costs are apportloned between the activities they contribute to on a reasonable, justifiable and conslstent basis. Tanglble assets Tangible assets are initially recorded at cost, and Subsequently stated at cost less any accumulaled depreciation and impairment losses. Any tanglble assets carried at revalued amounts are recorded at lh8 fair value at the dale of revaluation less any subsequent accumulaled depreciation and subsequent accumulated impairment losses,
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2023 Accounting policies (contlnued) Tangible assets (¢ontlnued) An Increase In the carrylng amounl of an assot as a result of a revaluatiori, 18 recognised in other recognised gains and losses, unless It reverses a charge for Impaiment that has previously been recognised as expenditure wlthin the statement of financial activilies. A decrease in the carrying amount of an asset as a result of revalualion, Is recognised in other recognised gains and losses, except lo whlch it offsets any previous revaluatlon galn, in which case the loss is shown within other recognised gains and losses on the stalement of fin8ncial actlvlties. 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 thal asset as follows: Freehold property Fixtures and fitlings 2010 Straight line 150/¢ reducing balance Impairment of flxed assets A review for Indicators of Impalrmenl Is carrled out at each reporting date, with Ihe recoverable amount belng eslim8ted where such Indicators exlst. Where the carrying value exceeds the recoverable amount, the asset Is Impalred accordingly. Prior impairmenls are al80 reviewed for posslble reversal at esch reportlng date. For the purposes of impalrment t6stlng, when It is not posslble to estlmate the recoverable amount of an individual asset, an estlmate 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 largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill. the goodwlll acqulred In a buslness combination is, from the acqulslllon date, allocated to each of the cash-ggnerating units that are expected to benefit from the synergles of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charlty wlll compSy with the conditions atlaching to them and the grants will be received. Where the grant does not impose specified future performance-related condltlons on the recipient. It is recognised in Income when the grant proceeds are received or receivable. Where the grant does impose specrfied future performance-related conditions on the recipient, it Is recognised In Income only when the performance-related conditions have been mel. Where grants recaived are prior to satisfying the revenue recognition crileria, they are recognlsed as a liabillty. 12
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2023 Accountlng policles (contlnuttd) Financial Instruments A financlal asset or a finanolal liabllity is recognlsed only when the charity becomes a party to the contractual provlsions of the instrument. Basic financial instruments are inltially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured al the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amorlised cost, Where Investments in 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 recognlsed In income and exponditure, All other such investments are subseouently measured at cost less Impairment, other financial instruments, Includlng derlvatives, are Initially recognised at falr value, unle8S payment for an asset is deferred beyond normal business terms or flnanced at a rate of Interest that is not a market r8le, in which Gase 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 subsoquently measured at fair value, wlth any changes recognised in the statement of financlal aclivlties, wilh the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured al cost or amortised cosl are revlewed for objectlve evldence of impairment at the end of each reporting date. If there is objective evidence of impalrment, an impairment loss is recognised under the approprlate heading in the statement of financial activities In which the init181 gain was recognised. For all eqully instruments r&gardless of slgnlficance, and other financial assets that are Individually significant, these are assessed individually for im pairment. Other financial asseis are elther assessed individually or grouped on the basls of similar credll risk characteristics. Any reversals of impairment are recognised Immedlately, to the extent that the reversal does not result in a carrying amount of the financial assel that eXed8 what the carrylng amount would h8ve been had the impairment not prevlously been recognised. Llmited by guarantee The company is Ilmited by guarantee and does not have a share capllal, 13
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 August 2023 Donations and legacles Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Donations Gift Aid Tax Reclaim 19,403 3,600 19,403 3,600 Grant8 Gr8nls receivable - IFI Youth Program Grants receivable - The Executive Office Funding Grants receivable - Educalion Authority Grants recelvable - Community Foundation Nl Grants recelv8ble - Dungannon Dlstrict Councll Grants recelvab16 - Ofgem (RHI) Grants receivable - PHA Grants receivable - Other 94,896 94,896 28,116 16,559 5,000 1,708 28,116 16,559 5,000 1,708 6,004 6,004 175,286 23,003 152,283 Charltablo actlvltlos Unrestrlcted Total Funds Funds 2023 Charitable activities - functions and fundraising 69,417 69,417 other Income Restrlcted Totsl Funds Funds 2023 £0 £0 Expendlture on charitable actlvltles by fund fype Unrestricted Funds Restricted Total Fund8 Funds 2023 Charitable activities 63,550 169,466 233,016 Expendlture on charitable actlvltles by activlty type Activltles undertaken Total funds directly 2023 Charltable actlvilles 233,016 233,016 14
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements {contlnued) Year ended 31 August 2023 10. Net (expendlturo)Ilncome Net (expendilureyincome Is stated aftor chargIn(CredIting}'. 2023 Depreciation of tanglble fixed assets 43,132 11. Independent examinatlon foes 2023 Fees payable to the independent examiner for: Independent examination of the flnancial ststement5 950 12. Staff costs The average head count of employees during the year was 4. The average number of full-time equivalent employees durlng the year Is analysed as follows., 2023 No. Number of staff - admln and project dellvery No employee received employee benefits of more than £60,000 during the year (2022: Nill. 13. Trustee remunoratlon and éxpense8 No remuner8tion or other benefits from employment with the charity or a related entity were received by the trustees. 14. Tanglble fixed a8set8 Freehold Fixtures and property fittings Total Cost At 1 September 2022 Addillons 1,488,353 19,050 350,420 11,268 1,838,773 3Q,316 At 31 August 2023 Depreclatlon At 1 September 2022 Charge for the year At 31 August 2023 Carrylng amount At 31 August 2023 1,507,403 361,686 1,869,089 561,064 30,148 275,124 12,984 836,188 43,132 591.212 288,108 879,320 916,191 73,578 989, 769 15
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Flnancial Statsments (conunued) Year ended 31 August 2023 15. Debtors 2023 Prepayments and accrued income Other debtors 14,562 5,000 19,562 16. Creditors: amounts falllng due within one year 2023 Accruals and deferred income other creditors 11,257 17,549 28,806 17. Credltors: amounts falllng due after more Ihan one year 2023 Accruals and deferred incom6 477,594 18. Governmant grants The amounts recognised in the financial statements for government grants are as follows: 2023 Recognised in creditors: Deferred government gr8nls due after mor8 th8n one year 477.594 I g. Analysls of charltablo funds Unrestricted funds At 1 September 2022 At 31 August 2023 Income Expendlturo General funds 103,973 92,420 (63,550) 132,843 Rostrlcted funds At 1 September 2022 At 31 August 2023 Income Expenditure Restricted Funds 516,527 152,283 1169,466) 499.344 16
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 August 2023 20. Analysls of net assets between funds Unrestricted Funds RestrlGted Total Funds Funds 2023 Tangible fixed assots Current a556ts Creditors less Ihan 1 year Creditor8 greater than 1 year Net a88et8 28,245 115,855 (11,257) 961,523 989.768 32,964 148.819 (17,549) (28,808) (477,594) (477,594) 499,344 632,187 132.843 17
Galbally Youth & Community Association Company Limited by Guarantee Management Information Year ended 31 August 2023 The followlng pages do not form part of the financial statements. 18
Galbally Youth & Community Association Company Limited by Guarantee Detailed Statement of Flnancial Activities Year ended 31 August 2023 2023 Income and endowments Donations and legacies Donations Gift Aid Tax Reclaim Grants receivable- IFI Youth Program Grants receivable- Education Authority Grants receivable- Community Foundatlon Nl Grants receivabl8 - Dungannon District Councll Grants receivable - Ofgem (RHI) Grants recelvable - Public Health Agency Grants recelvable - Other 19,403 3,600 94,896 28,116 16,559 5,000 1,708 6,004 175.286 Charitable actlvltles Charitablo actlvltles - functions and fundraising 69,417 Total Income 244,703 Expenditure Expenditure on charitable activltle8 Event costs and programme GQSts Wages and salaries Waler rates Light and heat Repalrs and maintenance InsuranGe Legal and professional fees Telephone Stalionery and advertising Computer costs Depreciation Grants receivable- amortisation Bank charges Charltable Donatlons General expenses 95,986 63,972 1,725 25,943 6,858 4,417 1,456 1,202 1,371 676 43,132 (18,498) 1,671 2,000 1,105 233,016 Total 6xpandlturo on charltable activities 233,016 Net (expendSture}lincome 11,687 19