COMPANY REGISTRATION NUMBER: N1036799 CHARITY REGISTRATION NUMBER: NIC100799 Creggan Community Association Company Limited by Guarantee Unaudited Financial Statements 30 September 2023 SP MCCAFFREY & CO Chartered accountants 50 Campsie Road Omagh Co Tyrone BT79 OAG
Creggan Community Association Company Limited by Guarantse ststement of Financial Activities (including income and expenditure account) Year ended 30 September 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Income and endowments Donations and legacies Charitable activities Other trading activities Investment income 558 476,087 11,728 27 11.250 11,808 476,087 11,728 27 .19,426 357,383 12,409 Total income 488.400 11,250 499,650 389.252 Expondlture Expenditure on raising funds: Costs of raising donations and legacies Expenditure on charitsble activities Total expenditure 23,953 403,512 427,465 1,750 9.500 25,703 413,012 438,715 19,809 350,609 11,250 370,418 Net incomo and net movement In funds 60,935 60,935 18,834 Reconcillatlon of fund8 Total funds brought ft)rward Total funds carried forward 322,235 383.170 322,235 383,170 303.401 322,235 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derrve from continuing activities. The notes on pages 8 to 15 form part of these financial ststements.
Creggan Community Association Company Limited by Guarantee Statement of Financial Position 30 September 2023 2023 2022 Note Fixed assets Tangible fixed assets 14 317,Tll 332.554 Current assets Stocks Debtors Cash at bank and in hand 15 16 450 5.849 172.085 521 10,079. 88,123 98,723 178,384 Creditors: amounts falling due within one year Net current assets 17 15,618 7.189 162,766 91,534 Totsl assets less current liabilities 480,537 424,088 Accrual8 and deferred income 97.367 101,853 322,235 Net assets 383,170 Funds of the charity Unrestricted funds 383,170 383,170 322,235 Total charity funds 322,235 For the year ending 30 September 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. D1ctOrS, ponsIbIlities. The members have not required the company to obtain an audtt 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 ststements. These financial ststements have been prepared in accordance with 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 (conunued) 30 September 2023 These financial statements were approved by the board of trustees and authorised for issue on 1 July 2024, and are signed on behalf of the board by: Sheila Grimes Trustee The notes on pages 8 to 15 form part of these financial 8tstements.
Creggan Community Association Company Limitsd by Guarantee Notes to the Financial Statements Year ended 30 September 2023 General inforniation The charty is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charty 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 Iland,. 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. Accountlng pollcle8 Basls of preparation The financia5 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 income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Fund accounting Unrestricted funds are available for use at the discreb'on of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds eannarked 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 terms of an appeal. and fall into one of two Su[aSseS.. restricted income funds or endowment funds.
Creggan Community Association Company Limited by Guarantee Notes to the Financial Statements (ct>ntinuedJ Year ended 30 September 2023 Accountlng policies (conlinuedj Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the chartty; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specffic policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured liablY. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the frdir 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 received if the value can be reliably measured. No amounts are included for the contribution of general volunteets. income from contracts for the supply of services is recognised wrth the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned rf 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 activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activib'es, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditu that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. Al costs are 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, justifiable and consistent basis. Tangible assets All fixed assets are initially recorded at cost.
Creggan Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 September 2023 Accounting policies (continued) Depreciation Depreciation is calculated so as to write off the cost or valuats.on of an asset, less its residual value, over the useful economtc life of that asset as follows: Plant and machinery Fixtures and fittings Motor Vehicles Equipment 200kn reducing balance 20Vo reducing balance 20% reducing balance 200/0 reducing balance Impaimient of fixed assets A review for indtcators of impairment is carried out at each reporting date, with the recoverable amount being estirnated where such indicators exist. Vthere the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for possible VerSal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable aUnt of an indivKlual asset, an eskn'mate is made of the recoverable amount of the cash-generats'ng unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflOV 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 liabiltties of the charity are assigned to those units. Stocks Stocks are measured at the lower of cost and estimated selling pri less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs inCUrd in bringing the stock to its present location and condition. Government grants Govemrnent grants are recognised at the fair value of the asset received or recetvable. 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 performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. blthere the grant does impose specified future perfomiance-related conditions on the recipient it is recognised in income only when the performance-related conditions have been met. i+lJhere grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability. Financlal instruments A financBI asset or a financtal liability is recognised only when the charty becomes a party to the contractual provisions of the instrument. 10-
Creggan Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 30 September 2023 Accounting policies (continued) Financial Instruments (continued) Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other considerats.on expected to be paid or e1Ved and not discounted. Debt instruments are subsequently measured at amortised cost. Vvhere 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 recognised in InMe and expenditure. All other such investments are subsequently measured at cost less impairment Other financial instruments, including derivats'ves, 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 rnarket 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 the statement of financial activities. 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 impainnent at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are indNidually significant, these are assessed individually for impairment Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of irnpairrnent are recognised immediately, to the extent that the reversal does not sult in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impainnent not previously been recognised. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related sen11 is provided. Prepaid contributions are reC3nISed as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. then contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related seNice. the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee The company is limited by Guarantee and therefore dS not have any Share Capital. 11
Creggan Community Association Company Limited by Guarantee Notes to the Financial Ststements (conllnued) Year ended 30 September 2023 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Grants Fermanagh & Omagh District Council Dept. for Education Early Years CRSF HSBC Dept. of Health Employment Grant Pathway Fund Grants receivable 1,750 1,750 2,000 2.000 558 7,500 558 7,500 558 11,250 11,808 Unrestricted Funds Restricted Total Funds Funds 2022 Grants Fermanagh & Omagh District Council Dept. for Education Early Years CRSF HSBC Dept. of Health Employment Grant Pathway Fund Grants receivable 1,759 1,759 3.000 10,167 2,500 3,000 10,167 2,500 2,000 15,167 2,009 4,259 19.426 Charitable actlvitles Unrestricted Total Funds Unrestricted Totsl Funds Funds 2023 Funds 2022 Childcare 476,087 476,087 357,383 357,383 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Sports Day Disco's Bingo, Hall Hire Facilitation fees Reim. of costs from Parish 341 11.387 341 11,387 6,609 800 5.000 6,609 800 5.000 11,728 11,728 12.409 12,409 12-
Creggan Community Association Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2023 Investment income UnStricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest receivable 27 27 Costs of ralsing donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Costs of generating income 23,953 1,750 25,703 Unrestricted Funds Restricted Totsl Funds Funds 2022 Costs of generating income 18.050 1,759 19.809 10. Net income Net income is stated after chargingl(credib'ng)'. 2023 2022 Depreciation of tangible fixed assets 14.783 18,061 11. Independent examlnatlon fees 2023 2022 Fees payable to the independent examiner for. Independent examination of the financial statements 2.180 2,140 12. Staff costs The average head count of employees during the year was 30 (2022: 25). The average number of full-time equivalent employees during the year is analysed as foll¢)ws: 2023 No. 2022 No. Number of staff 30 25 No employee received employee benefits of more than £60,000 during the year (2022: Nil). 13. Trustee MUneratIon and expenses Cathal Loughran received £1.813 and Barry Mcmullanreceived £500 for the general maintenance to the ntre and creche building. 13-
Creggan Community Association Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2023 14. Tangible fixed assets Land and Plant and Fixtures and buildings machinery fith'ngs Motor vehicles Equipment Total At 1 Oct 2022 and 30 Sep 2023 Depreciation At 1 Oct 2022 Charge for the year 458,606 2,218 158.670 28,600 23,845 671.939 199,977 121,739 6,760 10,465 339,385 355 7,386 4,368 2,674 14,783 At 30 Sep 2023 Carrylng amount At 30 Sep 2023 At 30 Sep 2022 199.977 799 129,125 11,128 13.139 354,168 258,629 1,419 29,545 17.472 10,706 317,771 258,629 1,774 36,931 21.840 13,380 332,554 15. Stocks 2023 2022 Stock of food Stock- General 250 200 300 221 450 521 16. Debtors 2023 2022 Debtors Other debtors 5.849 5,950 4.129 5.849 10,079 17. Creditors: arnounts falling due within one year 2023 2022 Creditors Social security and other taxes Grant in advance Childcare paid in advance 6,900 2.300 3,000 3.418 2,769 4,420 7,189 15.618 14-
Creggan Community Association Company Limited by Guarantee Notes to the Financial Statements {continued) Year ended 30 September 2023 18. Deferred income 2023 2022 At 1 October 2022 Amount released to income Arnount deferred in year At 30 September 2023 140,684 (66,251) 22,934 140,684 (61,765) 22.934 97,367 101,853 19. Pensions and other post retirement benefrts Defined contributlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £4.187 (2022.. £3,817). 20. Government grants The amounts recognised in the financial statements for govemment grants are as follows: 2023 2022 Recognised in accruals and deferred income: Deferred govemment grants due within one year 97,367 101.853 15-