COMPANY REGISTRATION NUMBER: N1028651 CHARITY REGISTRATION NUMBER: 100769 Galbally Youth & Community Association Company Limited by Guarantee Unaudited Financial Statements 31 August 2024 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 2024 Page Trustees, annual report (incorporating the director's repprt) 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 flnancial statements Detalled statement of flnancial activlties 19
Galbally Youth & Community Association Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) Year ended 31 August 2024 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financlal statements of the charity for the year ended 31 August 2024. Reference and admlnistrative detalSs Reglstered charlly name Galbally Youth & Community Association Charlty registration numbar 100769 Company registratlon number N1028651 Principal office and reglstered 36 Lurgylea Road office Galbally Dungannon BT70 2NX Tyrone The trustees Mr Michael O'Hagan Mr Marlin Rafferty Mr Brendan Kane Mr Brian Kelly Mr Paul Kelly Mr Michael Mcveigh Mr Fergal O'Donnell Mr Michael Gillospie Mr Julian Quinn Company secretary Mr Noel McGeary Indèpendént examlner Brian Robinson Accountancy Ltd 30 Main Street Castlecaulfield Dungannon Co Tyrone N Ireland BT70 3NP Structure, governance and management Galbally Youth & Community Association is a company limiled by guarantee governed by its memorandum and articles of association which was adopted on 24th October 1995, It is registered with the Charity Commission for Northern Ireland. The trustees listed above manage and govern the organisation and all decisions are made at committee level. Martin Rafferty acls as Ghairperson, Noel McGeary as Secretary and Michael O'Hagan as Treasurer. In addition to the trustees the organisation relies on the assistance of approximately fifty volunteers in relation to fundraising, planning and delivering a range Df local activilies and events.
Galbally Youth & Community Association Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 August 2024 Objeclives and actlvltles In setting our objectives and planning our activities for the year the Trustees have given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit lo ensure that the activities have help8d the charity achieve il's purposes and provide a public benefit to the beneficiaries. The Charitablg Objectives of our organisalion are as follows. The advancement of cltizenship or community development The advancement of education The prevention or relief of poverty The advancement of the arts, culture, heritage or science The relief of those in need by reason of youth, age, ill health, dlsabil ity, financial hardship or other disadvantage The main activities we undertook in this period includes, Provldlng leadershlp and management for Galbally Comrnunlty Centre as a central rural hub providlng a range of services for people living In Galbally, Cappagh and surrounding com munities. Ensure the long term sustainabil ity of Galbally Commu nity Centre and ensure that it is mainialned lo a high standard for communilylpublic use. Working In parlnershlp wlth other local organisations (e,g. Galbally Pearses GAC, Paddington Playgroup and Out of School Club, Cappagh Village Regeneration Group, Country Club. Galbally Youth Club, Galbally Friends Fund) to address local Issues and improve quality of life for local people. Worklng In partnership with statutory agencies and other community and voluntary sector organisations to add value to the range and quality of services and activities provided for local people. Develop Ihe knowledge, skills and capacity of local people through training and educational activities. Improve health and wellbeing of loc81 people through a range of innovative health and wellbeing programmes. Strategic report The following sectlons for achievements 2nd performance and financial review form the strategic reporl of the charity.
Galbally Youth & Community Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (Continued) Year ended 31 August 2024 Achievements and performance Main achievements in thls perlod include,, Another successful year delivering 'Game Changer,, a programme targeting young people aged 16-25 in areas of personal development, employability and good relations. Completed Year 1 and Commenced delivery of Year 2 on the Education Authority Specification for Torrent DEA, working in partnership wlth St. Patrick's Youth Club, Donaghrnore. Continued work with the 'Collab Club, (mixed-ability group), where young people of all abilities come together to connect, learn new skills, and have fun through 8XClting actlvities and themed sessions. Fundlng received to deliver physlcal and emotional wellbeing for our older people's group. Completed the construction of a new Youth Annex. Range of health and wellbelng talks and semlnars hosted. Blood Transfusion SeNice hosted. Continued maintenance and management of G8lbally Communlty Centre. providing hlgh quallty commu nily facilities. Peak Fltness loym facllityl continues to oo from strength to strength, adding additional classes and growing membership, improving health outcomes and reducing health inequalities. Walking for Health Group for 50+ slill going Strong and undertook a range of weekly walking trips. Gymnastics classes and various dance and fitness classes continued on a weekly basis. Provlded facilities for continued use by local Playgroup and Afterschool Club. Galbally Pearse8 GAC, Cannyman Community Arts,. Galbally Country Club., Galbally Parent and Toddler., Galbally Youth Club,. St. Jos&ph's Prlmary School., Galbally Comhallas; Cappagh Village Regeneration Group. Continued fundraising to ensure that the organisation remains sustainable and to facilitate all necessary maintenance and upkeep of Galbally Community Centre. Flnanclal revlew The financial slatements for the year were presented at the AGM and accepted and approved by the trustees, Brian Roblnson Accountancy Ltd has carried out a review of these account5 and has completed an Independent examiner's report on the accounts. The financial performance was In line with the trustees, expectations and the charitable company remains in a sound financial position al the year end. The results for the year are set out in detail on pages 7 to 19. These show an overall surplus for the year of £32,157. At 31 August 2024, the nel assets of the charitable company, including property, amounted to £664,344. The net current assets amounted to £43.848. The trustees can confirm that the charity doe5 not hold any funds that were materially in deficit at 31 August 2024.
Galbally Youth & Community Association Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnu6d) Year ended 31 August 2024 The Irustees, annual report and the strategic report were approved on 12 June 2025 and si9ned 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 2024 I report to the trustees on my examination of Ihe financial stat8meNls of Galbally Youth & Community Asso¢lation ('the charity,) for the year ended 31 August 2024. R8sponslbllltie5 and basis of roport As the trustees of the company (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland} 2008 (the '2008 Act,) and the Companies Act 2006 ('the 2006 Act,). You are satisfied Ihal the accounts of the company are not requlred by charity or company law to be audited and have chosen instead to have an independent examlnation. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financlal statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charlty Commlsslon for Northern Ireland under seciion 65{9}Ibl of the 2008 Act. Independent examinor'8 8tatament I have compleled my examinalion. I confirm that no matters have Gome to my attention in connection with my examination giving me cause to believe that in any material respect,. accounting records were nol kept in respect of the charity as requlred by sectlon 386 of the 2006 Act, or the financial statements do not accord with those records., or the financial statements .do not comply with the accounting requirements of section 396 of the 2006 Act olher than any requirement that the accounts give a 'lrue and fair, view which Is not a maller considered as part of an independent examination., or the flnanclal statoments have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounling and reporting by charities applicable to charities preparing their accounts in accordance with tho Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland {FRS 102).
Galbally Youth & Community Association Company Limlted by Guarantee Independent Examiner's Report to the Trustees of Galbally Youth & Community Association (continued) Year ended 31 August 2024 I confirm that thgre are no other matters to which your attention should be drawn to enable a proper undèrstandlng of the accounts lo be reached. an Robinson A¢counlancy Ltd Independ8nt Examlner 30 Main Street Gastlecaulfield Dungannon Co Tyrone N Ireland BT70 3NP 12 June 2025
Galbally Youth & Community Association Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 August 2024 2024 Restricted funds Total funds Unrestricted funds Note Income and endowments Donations and legacies Charitable activltles 49,301 80,697 212,816 262,117 80,697 342,814 Total income 129,998 212,816 Expendlture Expenditure on charitable activities Total expenditure 82,118 228,539 310,657 82,118 228,539 310,657 Net (expendlturelllnGome and net movement In funds 47,880 (15,723> 32,157 Reconclllatlon of fund8 Totdl funds brought forward Total funds carried forward 132,84J 499,344 632,187 664,344 180,723 483,621 The statement of financlal activities includes all gains and losses recognised in the y8ar. All income and expenditure derive from continuing activities. The notes on pages 10 to 17 form part of these financial statements.
Galbally Youth & Community Association Company Limited by Guarantee Statement of Financial Position 31 August 2024 2024 Note Flxed assets Tanglble fixed assets 4 1,148,480 Current assets Debtors Cash at bank and In hand 15 40,678 150,099 190,777 Credltors: amounts falllng due within one year Not current assets 16 146.929 43,848 1,190,328 Total ass8ts less current Ilabillties Creditors: amounts falllng due after more than one year Net assets 17 525,984 664,344 Funds of the cliarlty R8Strict8d funds Unrestricted funds 483,621 180,723 664,344 Total charity funds 19 For the ye8r endlng 31 Augusl 2024 the charity was entitled to exemption from 8udit under section 477 of the Companles Act 2006 relating to small companies. Dlrectors, responsibilities: The members hav8 not rèquired the company to obtain an audit of its financial stalemenls for the year in question In accordance with section 476., The d irectors acknowledge their responsibilities for cornplying with the requirements of the Act with respect lo accounting record5 and the preparation of financial statements. These financial statements have been prepared In accordance wlth the provlslons applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 10 to 17 form part of these flnanclal statements.
Galbally Youth & Community Association Company Limlted by Guarantee Statement of Financial Position (condnued) 31 August 2024 These financial statements were approved by the board of trust@es and authorised for issue on 12 June 2Q25, and are signed on behalf of the board by.. Mr Michael O'Hagan Director The notes on pages 10 to 17 form part of these financial Statements.
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements Year ended 31 August 2024 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. The address of the registered office is 36 Lurgylea Road, Galbally, Dungannon, BT70 2NX, Tyrone, Statement of compllance These flnancial statements have been prepared in compliance with FRS 102, 'The Financlal Reporting Standard applicable in the UK and the Republic of Irelar7d', the Statement of Recommended Practice applicable to charities preparing their account5 in accordance with th8 Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1Q2) {Chgrilies SORP (FRS 102)) and the Companies Act 2006. Accountlng pollclas Basis of preparatlon Th8 financial 8tatement8 have been prepared on the historical cosl basis, as modified by the revaluation of certain financial assets and liabil ilies and investment proper1165 measured al fair value through income or expenditure. The f inancial statements are prepared in slerli ng, which is the functional currency of the entity, Golng concern There are no material u ncertalntles about the charlty's ability lo contlnue. Judgemonts and key sources of estimation uncertainty The preparalion of the financial statements requires management to m8ke judgements, estimates and assumptions that affect Ihe amounts reported, These estimates and judgements are continually reviewed and are based on experience and oth&r factors, including oxpectalions of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use al the discretion of the trustees to further any of the charity's purposes, Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds aro subjected to restrlctions on thelr expendlture declared by the donor or through the lerms of an appeal. and f211 into one of two sub-classes.. restricted income funds or endowmenl funds. 10
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 August 2024 Accounting policies (contlnued) Incomlng resources All incoming resources are included In the statement of financial activities when enlit18ment has passed to the charity.. il is probable thal the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donalions or grants is recognised when there 15 evidence of entillemenl to the gift, receipt is probable and ils amount can be measured reliably, legacy income is recognised wh6n receipt is probable and entitlement is established. income from donated goods Is mèasured at 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 estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be re118bly measured. No amounts are included for the contribution of general volunteers. income from contracls for the supply of services Is recognised with the delivery of the contracted service. This is classified as unrestricled funds unless there is a contractual requirement for il to be spent on a particular purpose and returned if unspent, in which case il may be regarded as restricted. Resources expended Expendlture is recognlsed on an accruals basls as a liability is Incurred. Exp&ndilure includes any VAT whlch cannot be fully recovered, and Is classified under headings of tha statement of financial activitles to which It relates,, expendilure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking aclivities that further its charitable aims for the benefit of its beneficiaries, INcluding those support costs and costs relating to the governance of the charity apportioned to charitabl@ activities. other expenditure Includes 211 expendituro that is neither related to raising funds for the charlly nor part of its expenditure on charitable activities. All costs are allocated to expenditure caiegories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they conlribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assels are initially recorded al cost, and subsequently stated at cost less any accumulaled 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. 11
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 August 2024 Accountlng pollclos (conunued) Tangible assets (contlnu8dJ An increase in the carrying amount of an asset as a result of a revaluatlon. Is recognised in other recognised gains and losses, unless it reverses a charg6 for impairment that has previously been recognised as expenditure within the stalement of financial acllvltie5. A decrease in the carrying amount of an asset as a result of revaluation, Is recognised in other recognised gains and losses. except to which it offsets any previous revaluation gain, In which case the loss is shown within other recognised gains and losses on the statement of financial activities. 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 Flxtures and fittings 20/0 Straight Ilne 15 % reducing balance Impalrment of fixad a8set8 A review for indicators of impalrment is carrled 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 revlewed for possible reversal at each reporting date. For the purposes of impairment testing, when It Is not posslble to estlm8te the rècoverable arnount of an individual assel, an estimate is made of the recoverable amount of the Gash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that Includes the asset and generates cash inflows that largely independent of the cash inflow5 from other assets or groups of assets. For Impairment testing of goodwill, th8 goodwill acquired in a business combination 18, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies 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 Ihe asset received or receivable. Grants are not recognised until thore 15 reasonable assurance thal the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related condilions on the recipient, il is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-re12ted conditions on Ihe recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a 12
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 August 2024 Accounting policles (Gontlnued) Flnanclal instruments A financial asset or a f inancial liability is recognised only when the charity becomes a party lo the contractual provisions of the Instrument. Basic financial instruments are initially recognised al the amount receivable or payable including any re5ated transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or recelved and not dlscounted. Debt Instruments are subsequently measured at amortised 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 wlth changes In fair value recognised in income and expenditure. All other such investments are subsequently measured at 0St less impairment. Olliei. finanG'ial iristrum ents, includi ng dei-ivalives, are in ilial ly recogiiised al fai r v31uc', unless payment for an asset Is deferred beyond normal business terms or financed at a rate of inlerest that is not a market rate, In which case Ihe asset is measured at the present value of the future payments discou nled at a market rate of Interest for a slmllar debt instrument. Other flnanclal Instruments are subsequently measured al fair value, with any changes recognlsed In the statement of financial activities, with the exception of hedging Instruments in a esignated hedging relationship, Financial asselg that are measured al cost or amortised cosl are reviewed for objective evidence of impairment al the ond of each reporti ng dale. If there is objective evidence of impairmenl, an Impairment loss is recogni8ed under the appropriate heading in the statement of financial activitl8s In which the initial gain was recognised. For all equity instruments regardless of signrficance, and other financial assets that are individually significant. Ihe5e are as5e5sed individually for impairment. Other f Inancial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent thal Ihe revers81 does not result in a carrying amount of the financial asset thal exceeds what the carrying amount would have been had the impairment nol previously been recognised. Llmlted by guarantee The company is limited by guarantee and does nol have a share capital.
Galbally Youth & Community Association Company Llmlted by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 August 2024 Donations and legacies Unrestricted Funds Restricled Total Funds Funds 2024 Donatlons Donation8 Gift Aid Tax Reclaim 39,707 9,594 39,707 g,594 Grants Grants receivable- 5FI Youth Program Grants receivable- The Executive Off ice Funding Grants receivable - Education Authorily Grants receivable - Community Foundation Nl Grants receivable - Dungannon District Council Grants receivable - Ofgem (RHI) Grants receivabl8- PHA Grants receivable- Other 111,961 111,961 72,357 2,000 4,100 72,357 2,000 4,100 22,398 212,816 22,398 282,117 49,301 Charltable actlvltles Unrestricted Total Fun(Js Funds 2024 Charitable activities functions and fundralslng 80,697 80,697 Other Income Restricted Total Funds Funds 2024 £0 £0 Expenditure on charitable activlties by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Charitable activities 82,118 228,539 310,657 Expenditure on charltablo actlvitias by activlty type Activities undertaken Total funds directly 2024 Charitable activities 310,657 310,657 14
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnugd) Year ended 31 August 2024 10. Net (expendlture)lincome Net (expenditure)lincome Is slated after chargingl(creditlng), 2024 Depreciation of tanglble fixed assels 48,469 11. Independent examination fees 2024 Fees payable to the independent examiner for.. Independent examination of Ihe financial statements 950 12. Staff costs The average head count of employees durlng the year was 4, The average number of full-lime equ ivalenl employees during the year is analysed as follows.. 2024 No. Number of staff - admin and project delivery No employee received employee benefits of more than £60,000 during the year (2023.. Nil) 13. Trustee remuneratlon and expenses Nc remuneratlon or other beneflls from employment with the charity or a related enlily were recelved by the trustees. 14. Tangible flx&d assets Freehold Fixtures and property fittings Total Cost At 1 September 2023 Additions 1,507,403 180,711 361,686 24,470 1,869,089 205,181 At 31 August 2024 Depreclatlon At 1 September 2023 Charge for the year At 31 August 2024 Carrying amount At 31 August 2024 1,688,114 386,156 2,074.270 591,212 33,762 288,108 14,707 879,320 48,469 624,974 302,815 927,789 1,063,140 83,340 1,146,480 15
Galbally Youth & Community Association Company Llmited by Guarantee Notes to the Financial Statements (contlnugd) Year ended 31 August 2024 15. Debtors 2024 Prepayments and accrued Income Other debtors 35,678 5,000 40,678 16. Creditors: amounts falllng due wlthln one year 2024 Accruals and deferred income Other creditors Bank loans 12,827 26,459 107,643 146,929 17, Cr?.cJitors: amounts falling dije aft.er more than one year 2024 Accruals and deferred income 525,984 18. Government grants The amounts recognised in the financial statements for government grants are as follows: 2024 Recognised in creditors: Deferred government grants due after more than one year 525,984 19. Analysis of charitable funds Unrestrlcted funds At I September 2023 Al 31 August 2024 Income Expenditure General funds 132,843 129,998 {82,118) 180,723 Restricted funds At 1 Seplember 2023 At 31 August 2024 Income Expenditure Restricted Funds 499,344 212,816 (228,539) 483,621 16
Galbally Youth & Community Association Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 August 2024 20. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors18SS than 1 y@ar Credilors greater than l year Net assets 47,227 1,099,253 1,14e,480 146,323 44,454 190,777 (12,827) 1134,102) {146,929) 1525,984) {525,984) 483,621 664,344 180,723 17
Galbally Youth & Community Association Company Limited by Guarantee Management Information Year ended 31 August 2024 The followlng pages do not form part of the financial Statements. 18
Galbally Youth & Community Association Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 August 2024 2024 Income and endowments Donatlons and legacies Donations Gift Aid Tax Reclaim Grants receivable - IFI Youth Program Grants receivable - Education Authority Grants receivable - Cornmunity Foundation Nl Grants receivable - Dungannon District Council Grants receivable- Ofgem (RHI) Grants receivable - Public Health Agency Grants receivable - Olher 39,707 9,594 111,961 72,357 2,000 4,100 22,398 262,117 Charitable activltles Charitable activities - functlons and fundr8islng 80.697 Total income 342,814 Expendlture Expendlture on charitable activities Event costs and programme costs Wages and salaries Water rates Light and heat Repairs and maintenance I nsurance Legal and professional fees Telephone Stationery and advertising Computer costs Depreciation Grants receivable - amortisation Bank charges Charitable Donations Bank interest paid General expenses 151,920 80,039 1,935 24,543 7,971 5,660 1,696 1,543 882 234 48,469 121,610) 1,112 5,113 1,150 310,657 Total expenditur8 on charltable activities 310,657 Net (expenditure}lincomo 32,157 19