Company Registration No. N1040841 HMRC Charity Registration No. XR47227 Nl Charity Commission Registration No. NIC 100907 Lou hmacro Communit Develo ment Association Charitable Com an Limited b Guarantee Annual Re ort and Financial Statements For the ear ended 31 Ma 2023
Lou hmacro Communi Develo ment Association Charitable Com an Limlted b Guarantee Contents Page Trustees and advisors Trustees, Annual Report (incorporating the director's report) Independent Examiner's Report ststement of Financial Activities {including income and expenditure account) Statement of Financial Position Notes to the Financial Statements The followlng pages do not form part of the flnanclal statements Detailed statement of financial activities 15
Lou hmacro Communit Develo ment Association Charitable Com an Limlted b Guarantee Trustees and advisors DirectorslTrustees Declan McAleer (Chairperson) Barry McElduff Martin Donaghy Sean McDermott Tom O'Brien Sharon O'Brien Kevin McElduff Raymond Coyle Orla Fox Independent Examiner Aaron Coyle IACAI Tyrone Accountancy Services 8-10 Church Street Omagh Co. Tyrone BT78 1 DG Bankers Bank of Ireland Campsie Omagh Co Tyrone BT79 OAE Reglstered office 176 Loughmacrory Road Loughmacrory Omagh Co Tyrone Northern Ireland Registered number N1040841
Lou hmacro Communit Develo ment Association Charitable Com an Limited b Guarantee Re istered number: N1040841 Trustees. Annual Re ort incor oratin the director's re ort The directors, who are the trustees for the purpose of charity law, present their report and financial statements for the year ended 31 May 2023. The financial statements for the year ended 31 May 2023 follow on page 7, and they are preceded by the Report of the Independent Examiner. Structure, governance and management Loughmacrory Community Development Association is a Northern Ireland basecl charitable company, limited by guarantee, incorporated on 16 May 2001. The Company registration number is N1040841.The organisation is registered with the Charity Commission for Northern Ireland. The registration number is 100907. The charitable company is also registered with HM Revenue & Customs. The HMRC Charities reference is XR47227. The principal office is the registered office, 176 Loughmacrory Road, Loughmacrory, Omagh, Co Tyrone, BT79 9LG. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. The number of directors, who are the trustees, shall not be more than fifteen nor less than five. At every Annual General Meeting of the company, one fifth of the Directors should retire from office. These should be the longest serving. A retiring director shall be eligible for re election. The directors have the power at any time to appoint a director. ObJectlves The principal activity of the charitable company during the year continued to be that of stimulating and promoting the creation, within the district and town of Loughmacrory, of new enterprises and projects, having as an objective the provision of goods or services, the creation of recreational activates, or the improvement of the environmental well being of the district and town of Loughmacrory. Actlvlties The company's activities include proactively engaging in a broad range of initiatives locally aimed at enhancing and developing community services and facilities for the purpose of making Loughmacrory an attractive, socially cohesive and healthy place to live, work and socialise. In fulfilment of this objective, we work with other local organisations such as Loughmacrory and Murrins District Angling Association, Loughmacrory GAA Club, St Teresa's Primary School, Nippers Alley Playgroup and Loughmacrory Women's Group. Outside of the immediate area, we work in partnership with Omagh Lions Club, Omagh Forum for Rural Associations, Omagh Triathlon Club, Termon Wheelers, Termon Friendly Care Group, Omagh Harriers, Tyrone GAA County Board and we are currently engaged in a project involving Omagh Ethnic Community Support Group. The activities that LCDA engage in are aimed at promoting social inclusion and capacity building. They include - 4 family fun days per annum, pensioners away days.
Lou hmacro Communit Develo ment Association Charitable Com an Limited b Guarantee Re istered number: N1040841 Trustees, Annual Re ort incor oratin the director's re ort Public Benefit Statement Purpose 1 Promote rural regeneration The direct benefits which flow from this purpose include.. increased recreational opportunities, increased access to public amenities, access and availability to land and buildings on favourable terms to business to create training and employment opportunities and finally, financial and practical assistance to people who are poor. These benefits will be evidenced by verbal feedback from participants, attendance registers, the quality and availability of our recreational facilities, the quality and quantity of our public amenities, local unemployment statistics and NISRA statistics on annual incomes. Purpose 2 - Relieve poverty The direct benefits which flow from this purpose include., increased grants and funding opportunities for local people to avail of better living conditions and financial security These benefits will be evidenced by verbal feedback from participants, statistics from government departments, social media and local press coverage of funding opportunities. Purpose 3 - Relieve unemployment The direct benefits which flow from this purpose include.. increased job opportunities and identification of training opportunities for the unemployed of the local area. These benefits will be evidenced by verbal feedback from the local community and unemployment statistics. Purpose 4 - Preserve and protect health The direct benefits which flow from this purpose include.. increased health and fitness opportunities for the local population., community health initiatives, recreational facilities to promote sport and exercise. These benefits will be evidenced by verbal feedback from participants, attendance registers of eventslinitiatives, social media and local press coverage of opportunities and initiatives. Purpose 5 - Advance education The direct benefits which flow from this purpose include.. increased educational opportunities for inhabitants of the local area, by ensuring the local school remains open and sustainable These benefits will be evidenced by verbal feedback from participants, attendance register of the school and qualifications held by the local population. Purpose 6 - Provide facilities in the interests of social welfare for recreation and other leisure time occupations. The direct benefits which flow from this purpose include.. increased social opportunities for older people,. family fun days promote interaction locally,. increased sense of community spirit. These benefits will be evidenced by verbal feedback from participants, attendance registers, photographs of the events, social media and local press coverage of events. We do not anticipate any harm leading from our purposes. The charity's beneficiaries are people living in Loughmacrory and wider rural area, including the unemployed and people in financial stress. There is no private benefit flowing from our purposes.
Lou hmacro Communit Develo ment Association Charitable Com an Limited b Guarantee Re istered number: N1040841 Trustees, Annual Re ort incor oratin the director's re ort Taxation Status The charitable company is recognised as a charity by HM Revenue & Customs. Accordingly, the charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992. Achievements and perforrnance We are progressing on our objectives and targets and believe our work is providing a great benefit to the local community especially in the wake of the Covid-19 pandemic and the current economic downturn. Flnanclal revlow The organisation had another successful year in which the net assets remain relatively stable at £168,483. The organisation has continued to service its debt, reducing the loan balance to £5,690, which will be repaid in full in the incoming year. The trustees believe the charity is in a strong financial position and are confident the reserves of the company are of a sufficient level to be able to continue the activities of the charity and to serve their beneficiaries for many years to come. The unrestricted reserves are available for use al the discretion of the trustees in furtherance of the general objectives of the charity. All restricted reserves have been utilised as directed by the donor. Finance reserves are set aside to protect the charity against drops in income. The balance in the charity's bank accounts at the balance sheet date is £11,639. This is a reduction on the previous years balance of £19,400, however this included grant money recieved in relation to the new boiler which was installed and paid for in the current year. Independent Examlner At the annual general meeting it was proposed that Tyrone Accountancy Services Ltd would be re-elected as independent examiners for the incoming year. Trustees The trustees of the company are listed on page 1. Declan McAleer (Chairperson) Barry McElduff Martin Donaghy Sean McDermott Tom O'Brien Sharon O'Brien Kevin McElduff Raymond Coyle Orla Fox
Lou hmacro Communi Develo ment Association Charitable Com an Limited b Guarantee Re istered number: N1040841 Trustees. Annual Re ort incor oratin the directorfs re ort Small company provisions This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime. This report was approved by the board on 27 February 2024 and signed on its behalf. le Director
Lou hmacro Communi Develo ment Association Charitsble Com an Limited b Guarantee Inde Lou endent Examinevs re hmacro Communi ort to the members on the unaudited financlal statements of Develo ment Assoclatlon for the ear ended 31 Ma 2023. We report on the financial statements of the company for the year ended 31 May 2023, which are set out on pages 7 to 8. Respectlve responsibilitles of the charity trustee3 and Independent examlner As the charitable company's directors, who are the Irustees for the purpose of charity law, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 Having satisfied ourselves that the charitable company is not subject to audit under company law, and is eligible for the independent examination, it is our responsibility to." examinè the accounts under section 65 of the Charities Act (Northern Ireland) 2008, follow the procedures laid down in the general Directions given by the Charity commission for Northern Ireland under section 65(91{bl of the Charities Act (Northern Ireland) 2008, and state whether particular matters have come lo my attention. Bas18 of Independent examlner's report We have examined your charitable company's financial statements as required under section 65 of the Charitl8s Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under section 6519llbl of the Charities Act, Our examination included a review of the accounting records kept by the charitable company and comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charitable company Directors concerning any such matters Our role is lo stale whether any material matters have come to our attèntion giving us causè lo believe.. That accounting records were not kept in accordance with section 386 of the Companies Act 2008,. That the accounts do not accord with those accounting records,, or That the accounts do not comply with the accounting requirements ol section 396 of the Companies Act 2006 and with methods and principles of the Charitie5 Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland.. or That there is further inforrnation néeded for proper understanding of the accounts to be reached. Independent examlner'8 ststement Vve have completed our examination and have no concerns in respect of the matters listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Aaron Coyle ACA On behalf of. Tyrone Accountancy Services Chartered Accountants 8-10 Church Street Omagh Co. Tyrone BT78 1DG 27 February 2Q24
Lou Ch hmacro ritable C Communit Dgvelo ment Associatlon Limlted b Guaran ee statement of financi activities for th ear ended 31 M 2023 Includin Incomè and ex nditure accoun 2023 Unrestricte funds 2023 R strictod nd8 2023 2022 Ifun I fund Income Donations and legacies Other trading aclivilie$ Total income 7,857 13,737 21,594 7.000 14,857 13,737 28,594 11,587 7,229 18,816 7,000 Expenditure Expenditure on charitable activities 20,919 7,561 28,480 33,392 114 14,576 om endl 675 561 etw 561 561 Sn 114 114 14,576 Reconclllatlon of funds Total funds brought forward rd 168,3fj0 168,483 168,389 168483 182,94S 168,369 All of the activities of the charitable company aT8 classed as Continuing. The Slalemenl of Financial Activities includes 811 gains and losses recognised during the year. The notes on pages 9 to 14 fom an inl8gral part of the financial slalemenls.
Lou hmacro Communi Develo ment Association Charitable Com an Limlted b Guarantee istered number: Statement of financial asat31Ma 2023 N1040841 osltion Notes 2023 2022 Flxed assets Tangible assets 1,682,821 1,712,680 Current assets Cash at bank and in hand 11,639 19,400 Creditors: amounts falllng due within one year (11,000) (4,950) Net current assets 639 14,450 Total assets less current liabilitles 1,683,460 1,727,130 Credltors: amounts falllng due after more than one year (1,514,977) (1,558,761) Net assets 168,483 168,369 Funds of the charlty Unrestricted funds Restricted funds Total charlty funds 168,483 168,369 168,483 168,369 The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006, The members have not required the company to obtain an audit in accordance with section 476 of the Act. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The accounts have been prepared and delivered in accordance wilh the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies under section 444 of the Companies Act 2006. The notes on pages 9 to 14 form an integral part of the financial statements. dco Director Approved by the board on 27 February 2024
Lou hmacro Communit Develo ment Association Charitable Com an Limited b Guarantee Notes to the Accounts for the ear ended 31 Ma 2023 Accountln olicies 8asis of preparation The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction values unless otheiSe stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) effective 1 January 2015 Charities SORP {FRS 1021, the Companies Act 2006 and the Charities Act {Northern Ireland) 2008. The currency used for the reporting of these financial statements is Sterling (£1 Golng concern There are no material uncertainties about the charities ability to continue. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. 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 sub-classes. restricted income funds or endowment funds. Income All incoming resources are included in the statement of financial activities when the charitable company is entitled to the income and the amount can be quantified with reasonable accuracy. Incoming resources includes all voluntary and fundraising income from charitable activities. Voluntary income received by way of donations and gifts to the charity is included in full in the Statement of Financial Activates when receivable. Fundraising income is credited to incoming resources when received. If the income relates to a particular event happening after the financial year end it is deferred. Other income from charitable activities includes rent and renewable feed-in tariffs from property held for charitable purposes, This income is applied for charitable purposes only and included in full in the Statement of Financial Activates when receivable. Resources expended Expenditure is recognised on an accwals basis as a liability is incurred. Expenditure includes VAT, and is classified under the heading of 'expenditure on charitable activities,. This includes all costs incurred by the charity in undertaking activities 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 charitable activities.
Lou hmacro Communit Develo ment Association Charitable Com an Limited b Guarantee Notes to the Accounts for the ear ended 31 Ma 2023 Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the disclosure exemption available under paragraph 1.12 of FRS 102 which allows no cash flow statement to be presented for the company. Judgéments and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectstions of future events that are believed to be reasonable under the circumstances. No judgements that management has made in the process of applying the entity's accounting policies have a significant effect on the amounts recognised in the financial statements. No accounting estimates or assumptions have been made. Grant income Capital grants received and receivable are treated as deferred income and amortised to the profit and loss account annually over the useful economic life of the asset to which it relates, Revenue grants are credited to the profit and loss account when received. Tanglble flxed assets Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows.. Land & Property Fixtures, fittings and equipment 20/0 reducing balance 250/0 reducing balance Credltors Short term creditors are me8sured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. Taxation Loughmacrory Community Development Association is a registered charity and, as such, is entitled to certain tax exemptions on income and profits from investments and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes. 10
Lou hmacro Communi Develo ment Association Charitable Com an Limited b Guarantee Notes to the Accounts for the ear ended 31 Ma 2023 Financial instruments Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities. Where the contractual obligations of financial instruments are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability. 2 Em lo 2023 Number 2022 Numbor Average number of persons employed by the company No trustees have been paid any remuneration or received any other benefits from the charity. No trustee expenses have been incurred. 3 Donatlon8 and le acle8 2023 2022 Unrestrlcted funds Donations Grants income 6,845 1,012 7,857 3,877 3,877 Restricted funds Donations Grants income.. Buoyancy aid Christmas lights Community centre lights Lough walk 1,498 712 1,500 5,500 7,000 5,500 7,710 Total income from donations and legacies 14,857 11,587 £1,252 was received from Fermanagh & Omagh District council in relation to the installation of the Christmas lights. In line with the letter of offer, this is no longer restricted income and has been shown as a donation. The FODC no longer consider this income grant aid and the charity is not bound by the councils procurement policies.
Lou hmacro Communit Develo ment Association Charitable Com an Limited b Guarantee Notes to the Accounts for the ear ended 31 Ma 2023 4 Other tradin activities 2023 2022 Unrestrlcted funds Renewable energy income Fundraising events - Santa Sunday Rent received Other income 534 825 10,578 1,800 13,737 513 6,716 7,229 Restricted funds Total Income from other tradlng activitles 13,737 7,229 Included in other income was the sale of treadmill that wasn't bought by the charity. S Ex enditure on charitable actlvities b fund t 2023 2022 Unrestrlcted funds Charitable activities.. support costs Repayment of grant Accountancy services Independent examination services 19,599 20,602 3,138 390 390 24,520 660 660 20,919 Restricted funds Buoyancy aid Christmas lights Foodbank Community centre lights Lough walk 1,498 780 210 2,000 5,561 7,561 6,384 8,872 Total resources expended 28,480 33,392 No related party transactions have took place during the year. 12
Lou hmacro Communi Develo ment Association Charitable Com an Limited b Guarantee Notes to the Accounts for the ear ended 31 Ma 2023 6 Tan ible fixed assets Plant and machlnery etc Land and buildings Total Cost At 1 June 2022 Additions At 31 May 2023 2,008,856 37,685 7,620 45,305 2,046,541 7,620 2,054,161 2,008,856 Depreclatlon At 1 June 2022 Charge for the year At 31 May 2023 301,911 34,139 336,050 31,950 3,340 35,290 333,861 37,479 371,340 Net book value At 31 May 2023 1,672,806 10,015 1,682,821 At 31 May 2022 1,706,945 5,735 1,712,680 7 Credltorn: amount8 fallln due wlthln one ear 2023 2022 Bank loans and overdrafts Trade creditors and accruals 5,690 5,310 11,000 4,950 4,950 The UCIT loan will be fully repaid within the next 12 months so has been reclassified as falling due within one year. The trustees confirmed no temporary loans were outstanding at the year end. 2023 8 Credltors: amounts fallln due after one ar 2022 Bank loans and overdrafts Deferred government grants 11,085 1,547,676 1,558,761 1,514,977 1,514,977 Deferred government grants represents grant income received in relation to capital expenditure. These capital grants received are treated as deferred income and amortised to the profit and loss account annually over the useful economic life of the asset to which it relates. Deferred government grants movement.. Opening balance 1,547,676 New grant received during year Amortised to profit and loss Closing balance (32,699) 1,514,977 13
Lou hmacro Communi Develo ment Association Charitable Com an Limited b Guarantee Notes to the Accounts for the ear ended 31 Ma 2023 9 Anal sis of charitable funds 2023 2022 Unrestricted funds At 1 June 2022 Incomel(Expenditure) Transfers Ito)Ifrom funds At 31 May 2023 168,369 675 1561) 168,483 182,735 (13,414) {952) 168,369 Restricted funds At 1 June 2022 IncomellExpenditure) Transfers {tollfrom funds At 31 May 2023 210 {1,162) 952 {561) 561 A transfer of restricted funds to unrestricted funds has been agreed with the Trustees. This is broke down as follows.. Community centre lights expenditure in excess of grant received Lough walk expenditure in excess of grant received 15001 1611 561 10 Anal sls of net assets between funds 2023 2022 UnrtrIcted funds Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net Assets 167,844 11,639 111,000) 165,004 19,400 {4,9501 {11,085) 168,369 168,483 Restricted funds Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net Assets 1,514,977 1,547,676 (1,514,977) {1,547,676) 11 Other Information Loughmacrory Community Development Association is a public benefit entity and a private company limited by guarantee without share capital and incorporated in Northern Ireland. Its registered office is.. 176 Loughmacrory Road Loughmacrory Omagh Co Tyrone BT79 OAE 14
Lou hmacro Communi Develo ment Association Detailed ststement of financial activities for the ear ended 31 Ma 2023 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds 2022 Total funds Incomo 21,594 7,000 28,594 18,816 Expenditure on charitsble activities Premises costs Administrative expenses L8gal and professional costs 4,926 14,673 1,320 20,919 4,926 22,234 1,320 28,480 5,086 27,526 780 33,392 7,561 7,561 Not incomel ex endlture for the ear 675 561 114 14,576
Lou hmacro Communi Develo ment Association Detailed statement of financial activities for the ear ended 31 Ma 2023 Unrestricted funds 2023 Restricted funds 2023 Total funds Total funds 2023 2022 Income Donations Fundraising events Grants receivable Renewable Energy Income Rent received Other income 6,845 825 8,012 534 10,578 1,800 28,594 3,877 825 1,012 534 10,578 1,800 21,594 7,000 7,710 513 6,716 7,000 18,816 Expendlture on charitable actlvites Premises costs.. Light and heat 4,926 4,926 4,926 4,926 5,086 5,086 General administrative expenses: Telephone and fax Bank charges Interest Insurance Equipmant expensed Repairs and maintenance Depreciation Amortisation of capital grant Events and entertaining Sundry expenses Repaymenl of FODC grant Buoyancy aid Christmas lights expenditure Foodbank expenditure Community centre lights Lough walk general maintenance 62S 211 581 2,674 1,250 4,017 37,479 {32,699) 381 154 625 211 581 2,674 1,250 4,017 37,479 132,6991 381 154 176 877 3,610 4,636 36,750 131,648) 1,113 3,138 1,498 780 210 2,000 5,561 7,561 2,000 S,S61 22,234 6.384 27,526 14,673 Legal and professional ¢osls'. Accountancy fees 1,320 1,320 1,320 1,320 780 780 20,919 28,480 33,392 16