COMPANY REGISTRATION NUMBER: N1036799 CHARITY REGISTRATION NUMBER: NIC100799 Creggan Community Association Company Limited by Guarantee Unaudited Financial Statements 30 September 2022 SP MCCAFFREY & CO Chartered accountants 50 Campsie Road Omagh Co Tyrone BT79 OAG
Creggan Community Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) Year ended 30 September 2022 The trustees. who are also the directors for the purposes of company law. present their report and the unaudited financial statements of the charity for the year ended 30 September 2022. Reference and administrative details Reglstsred charlty name Creggan Community Association Charlty registration number NIC100799 Company registration number N1036799 Principal office and reglstered Creggan Communty Centre office Omagh Co Tyrone BT79 9AF The trustees Mary T Conway Sheila Grimes Martin Fox Clare Haughey Cathal Loughran Patrick McKernan Oonagh Bradley Sharon Begley Joanne Hughes Sinead Mcmullan Patricia Grugan Barry Mcmullan (Retired 23 March 2022) (Retired 23 March 2022) (Appointed 23 March 2022) (Appointed 23 March 2022) Independent examiner S P Mccaffrey 50 Campsie Road Omagh Co Tyrone BT79 OAG Strueturn. governance and management The Association holds an annual AGM Whe it elects trustee5 to oversee the running for the year. Objectives and activities We have ferred to the guidance contained in the Charity Commission's general guidance on public benefrt when reviewing our aims and objectives and in planning our future activities. Achievements and performance The Trustees, are satisfied that the Association has continued to meet ts key aims and objectives. namely to promote the greater good of the people of Creggan and district by providing facilities for community education. social welfare and recreation.
Creggan Community Association Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 Septsmber 2022 2022 Restricted funds Total funds Total funds 2021 Unrestiicted funds Income and endowments Donations and legacies Charrtable activities Other trading acb'vities Investment income 15,167 357,383 12,409 4,259 19.426 357,383 12,409 93.358 212.151 2.344 36 Total income 384,993 4,259 389,252 307.889 Expènditure Expenditure on raising funds: Costs of raising donations and legacies Expenditure on charitable acb'vities Total expendlture 18,050 348,109 366,159 1,759 2.500 4.259 19,809 350,609 370,418 11,345 259,603 270,948 Net Income and net movement In funds 18,834 18.834 36,941 Reconclllation ol funds Total funds brought forward Total funds carried forward 303,401 322,235 303,401 266,460 303,401 322,235 The statement of financial activities includes all gains and losses recognised in the year, All income and expenditure derive from continuing activities. The nots5 on pages 8 to 15 fomi part of these financial statements.
Creggan Community Association Company Limited by Guarantee Statement of Financial Position 30 Septsmber 2022 2022 2021 Note Fixed assets Tangible fixed assets 14 332,554 321,177 Current assets Stocks Debtors Cash at bank and in hand 15 16 521 10,079 88,123 98,723 458 12,428 89,632 102,518 Creditors: amounts falling duo wlthin one year Net current assets 17 7.189 13,661 88.857 91.534 Total assets less current liabilities 424,088 410.034 Accruals and d•ferred Incomo 101,853 322,235 106,633 Net assets 303,401 Funds of the charity Unrestricted funds 322,235 322,235 303,401 303,401 Total charlty funds For the year ending 30 September 2022 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 lating to small companies. Directors, responsibilities: The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with seckn'on 476; The directors ackn¢Jwledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial ststements. These financial ststements have been prepared in accordance wrth the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 8 to 15 fomi part of these financial statements.
Creggan Community Association Company Limited by Guarantee Statement of Financial Position (continued) 30 September 2022 These financial staternents were approved by the board of trustees and authorised for issue on 11 June 2023, and are signed on behalf of the board by: Sheila Grirnes Trustee The notes on pages 8 to 15 forni part of these financial ststements.
Creggan Community Association Company Limited by Guarantee Notes to the Financial Statements Year ended 30 September 2022 General inforniation The charty is a public benefrt entity and a private company limited by guarantee. registered in Northem Ireland and a registered charity in Northern Ireland. The address of the registered office is Creggan Community Centre. Omagh, Co Tyrone, BT79 9AF. Statement of compliance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investrnent properties measured at fair value through incorne or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entrty. Golng concern There are no material uncertainties about the charity's ability to continue. Fund accountlng Unrestricted funds 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 particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the temis of an appeal, and fall into one of two sub<lasses.' restricted income funds or endowment funds.
Creggan Community Association Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 Accounting policies (cononued) Incoming resources Al incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. it is probable that the economic benefts 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 froffl donations or grants is recognised when there is evidence of entrtlement to the gift. receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and enkn'tlement is established. income from donated goods is measured at the fair value of the goods unless this 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 reiVed if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted fvnds unless the is a contractual requirement for it to be spent on a particular purpose and retumed if unspent. in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activits'es to which it relates.. expenditure 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 actNities that further its charitable aims for the benefit of tts beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charty nor part of its expenditure on charitable activities. All costs a allocated to expenditure categories 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 contribute to on a reasonable, justs'fiable and consistent basis. Tangible assets All fixed assets are initially recorded at cost.
Creggan Community Association Company Limitsd by Guarantee Notes to the Financial Ststements (conllnued) Year ended 30 September 2022 Accounting policies {continued) Depreciation Depreciation is calculated so as to off the cost or valuation of an asset. less its residual value. over the useful economic life of that asset as follows: Plant and machinery Fixtures and fittings Motor Vehicles Equipment 20% reducing balance 20 % reducing balance 200 reducing balance 200A reducing balance Impaimient of fixed assets A review for indicators of impainnent is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. whe the carying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estirnate 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 ca5h-generating unit 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 goodwill acquired in a business combination is. 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. Stocks Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. 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 charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future perfomiance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specffied future performance-related conditions on the 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 liability- Financial instruments A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. 10-
Creggan Community Association Company Limited by Guarantee Notes to the Financial Ststements (confrnued) Year ended 30 September 2022 Accounting policies (continued) Flnanclal instruments {continuodJ Basic financial instruments are initially COgniSed at the amount recetvable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can othepwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in incorne and expenditure. All other such investments are subsequently measured at cost less impairmenL Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond nomial 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 futu 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 the statement of financial activrties, wrth the exception of hedging instruments in a designated hedging relats'onship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impainnent at the end of each reporting date. If the is objective evidence of impainnent, an impaient loss is recognised under the appropriate heading in the statement of financial activities in which the inttial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basi5 of similar credit risk characteristics. Any reversals of impainnent are recognised immediately. to the extent that Ihe reversal does not result in a carrying amount of the financial asset that exceeds what the carrying arnount would have been had the impairment not previously been recognised. Defined contribution plan8 Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly wthin 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Llmited by guarantee The company is limited by Guarantee and therefore does not have any Share Capital. 11
Creggan Community Association Company Limited by Guarantee Notes to the Financial Statements (contsnued) Year ended 30 September 2022 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2022 Grants Fermanagh & Omagh District Council FODC - Recover Grant Dept. for Education Early Years CRSF Job Retenkn'on Scheme COVID Grant Fund HSBC Cregganconroe Community Benefit Fund Safe Retum Fund Co-operation Ireland Grants receivable 1.759 1,759 3.000 10.167 3.000 10,167 2,500 2.500 2,000 15,167 2,000 4,259 19,426 Unrestricted Funds Restricted Total Funds Funds 2021 Grnnts Femianagh & Omagh District Council FODC - Recover Grant Dept. for Education Early Years CRSF Job Retention Scheme COVID Grant Fund HSBC Cregganconroe Community Benefit Fund Safe Retum Fund Co-operation Ireland Grants receivable 1,447 498 1.447 498 40,198 3.706 33,000 40,198 3,706 33,000 806 806 4.095 2,415 7.193 4.095 2.415 7,193 12.359 80.999 93,358 Charitabl• actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Childcare 357.383 357,383 212.151 212,151 12-
Creggan Community Association Company Limited by Guarantee Notes to the Financial Statements fcontlnuedj Year ended 30 September 2022 Other trnding activities Unrestricted Total Funds UnStriCted Total Funds Funds 2022 Funds 2021 Irish Dancing Discos Hall Hire Bingo Facilitalion fees Reim. of costs from Parish 715 4,792 302 800 800 5,000 715 4,792 302 800 800 5,000 380 380 120 120 1,844 12,409 12.409 2.344 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Bank interest e1Vable 36 36 Costs of raislng donations and legacies Unrestricted Funds Restricted Total Funds Funds 2022 Costs of generating income 18,050 1,759 19,809 Unrestricted Funds Restricted Total Funds Funds 2021 Costs of generating income 6,985 4,359 11,345 10. Net income Net income is stated after chargingl{crediting): 2022 2021 Depreciation of tangible fixed assets 18,061 14,452 11. Independent examination fees 2022 2021 Fees payable to the independent examiner for: Independent examination of the financial ststernents 2,140 1.950 13-
Creggan Community Association Company Limited by Guarantee Notes to the Financial Statements (confrnued) Year ended 30 September 2022 12. Staff costs The totsl staff costs and employee benefits for the reporting period are analysed as follows: 2022 2021 Wages and salaries Employer contributions to pension plans 273.027 3,817 276.844 210,916 1,808 212.724 The average head count of employees during the year was 25 (2021.. 20). The average number of full-time equivalent employees during the year is analysed as follows: 2022 No. 2021 No. Nurnber of stsff - type 1 25 20 No employee received employee benefrts of more than £60,000 during the year {2021: Nil). 13. Trustee remuneration and expenses No trustee received any remuneration or other benefits. 14. Tangible fixed as80ts Land and Plant and Fixtures and buildings machinery fittings Motor vehicles Equipment Total At 1 Oct 2021 Additions 457.926 680 157,870 800 6,500 22,100 20,205 3,640 642,601 29,438 2,218 At 30 Sep 2022 Depreciation At 1 Oct2021 Charge for the year 458,606 2,218 158,670 28,600 23,845 671,939 199,977 112,926 1,300 7,121 321,324 8,813 121,739 5,460 18,061 339.385 At 30 Sep 2022 Carrying amount At 30 Sep 2022 At 30 Sep 2021 199.977 444 6,760 10,465 258,629 257,949 1,774 36,931 21,840 5,200 13,380 332.654 44.944 13,084 321,177 15. Stocks 2022 2021 Raw materials and consumables Work in progress 300 221 245 213 521 458 14-
Creggan Community Association Company Limitsd by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 16. Debtors 2022 2021 Debtors Other debtors 5,950 4,129 10,079 5.235 7.193 12,428 17. Creditors: amounts falling due within one year 2022 2021 Creditors sla[ security and other taxes Monies Paid in Advance 2.769 3,530 9,981 150 4.420 7.189 13,661 18. Deferred income 2022 2021 At 1 October 2021 Amount released to income Amount deferred in year At 30 September 2022 140,684 (61,765) 22,934 101,853 140,684 (56,985) 22,934 106,633 19. Penslons and other post rntirement benefrts Defined contrfbution plans The amount ognISed in income or expenditure as an expense in relation to defined contribution plans was £3,817 (2021.. £1,808). 20. Government grants The amounts recognised in the financial statements for govemment grants are as follows: 2022 2021 Recognised in accruals and deferred income: Deferred govemment grants due within one year 101.853 106.633 15-