Company Registration No. N1040841 HMRC Charity Registration No. XR47227 Nl Charity Commission Registration No. NIC 100907 Lou hmacro Communi Charitsble Com an Develo ment Association Limited b Guarantee Annual Re ort and Financial Statements For the ear ended 31 Ma 2024 Lou hmacro Communi Develo ment Association Charitable Com an Limited b Guarantee Contents Trustees and advisors Trustees, Annual Report (incorporating the directorfs report) Independent Examinerfs Report Statement of Financial Activities (including income and expenditure account) Statement of Financial Position Notes to the Financial Statements The following pages do not form part of the financial ststements Detailed statement of financial activities 15 Lou hmacro Communi Develo ment Association Charitable Com an Limited b Guarantee Trustees and advisors DirectorslTrustees Declan McAleer (Chairperson) Barry McElduff Martin Donaghy Sean McDermott (resigned 26 October 2023) Tom O'Brien Sharon O'Brien Kevin McElduff Raymond Coyle Orla Fox Independent Examiner Ruairi Dundas FCA Tyrone Accountancy Services 8-10 Church Street Omagh Co. Tyrone BT78 1 DG Bankers Bank of Ireland Campsie Omagh Co Tyrone BT79 OAE Registered office 176 Loughmacrory Road Loughmacrory Omagh Co Tyrone Northern Ireland Registered number N1040841 Lou hmacro Communi Develo ment Association Charitable Com an Limited b Guarantee 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 2024. The financial statements for the year ended 31 May 2024 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 based 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. Objectives 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. Activities 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 Communi Develo ment Association Charitable Com an Limited b Guarantee 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 assistan￿ 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 povety 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, attendan￿ 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, attendan￿ 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 Communi Develo ment Association Charitable Com an Limited b Guarantee 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 exempts'ons contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992. Achievements and performance 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. Financial review The organisation had another successful year in which the net assets remain relatively stable at £168,322. The organisation has continued to service its debt, reducing the loan balance to £23, which has been repaid in full just after the year end. 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 at the discretion of the trustees in furtherance of the general objectives of the charity- Al 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 £8.907. This is a slight reduction on the previous years balance of £11,639. Independent Examiner At the annual general meeting it was proposed that Tyrone Accountancy Services 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 {1 Tom O'Brien Sharon O'Brien Kevin McElduff Raymond Coyle Orla Fox Lou hmacro Communi Develo ment Association Charitable Com an Limited b Guarantee istered number: N1040841 Trustees. Annual Re ort incor oratin the director's 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 19 February 2025 and signed on its behalf. RayhYoAI Qtyltrb 20 2025. 9 26aml Director **Loughmacrory Community Development Association (Charitable Company Limited by Guarantee)** ## **Independent Examiner's report to the members on the unaudited financial statements of Loughmacrory Community Development Association for the year ended 31 May 2024.** We report on the financial statements of the company for the year ended 31 May 2024, which are set out on pages 7 to 8. ## **Respective responsibilities of the charity trustees and independent examiner** As the charitable company's directors, who are the trustees 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: - examine 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(9)(b) of the Charities Act (Northern Ireland) 2008; and - state whether particular matters have come to my attention. ## **Basis of independent examiner's report** We have examined your charitable company's financial statements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. Our examination included a review of the accounting records kept by the charitable company and a 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 to state whether any material matters have come to our attention giving us cause to believe: - That accounting records were not kept in accordance with section 386 of the Companies Act 2006; - That the accounts do not accord with those accounting records; or - That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with methods and principles of the Charities Statement of Recommended Practice - ● applicable to charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland; or - That there is further information needed for proper understanding of the accounts to be reached. ## **Independent examiner's statement** We 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. **Wendy Smith FCA** On behalf of: Tyrone Accountancy Services Chartered Accountants 8-10 Church Street Omagh Co. Tyrone BT78 1DG 19 February 2025 6 Lou hmacro Communi Develo merrt Association Charitsble Com an Limited b Guarantee Statement of financial activities for the earended 31 Ma 2024 includin income and ex nditure account Notss 2024 Unrestricted funds 2024 Restricted funds 2024 2023 Total funds Totsl funds Income Donations and legacies Other trading activities Total income 4.219 16.034 20.253 3.681 7.900 16.034 23.934 14,857 13,737 28,594 3,681 Expenditure Expenditure on charitable activities 17.849 6.246 24.095 28,480 Net incomel ex nditure 114 Transfers betsveen funds 2.565 Net movement in funds 161 114 Reconciliation of funds Total fvnds brought forward Total funds carried forward 168.483 168.322 168.483 168.322 168,369 168,483 All of the actThiities of the charitable company are dassed as continuing. The Slalement of Finanaal ActivrtEs indudes all gains and losses recognised during the year. The notes on pages 9 10 14 fomi an integral part of the finanual stslemenls. Lou hma¢ro Communi Develo ment Association Charitable Com an Limited b Guarantee Re istered number: N1040841 Statement of financial osition asat31 Ma 2024 Notes 2024 2023 Fixed assets Tangible assets 1,646.859 1,682,821 Current assets Debtors Cash at bank and in hand 1,118 8,907 10,025 11,639 11,639 Creditors: amounts falling due within one year (5,193) (11,000) Net current assets 4.832 639 Total assets less current liabilities 1,651.691 1,683,460 Creditors: amounts falling due after more than one {1,483.369) (1,514,977) Net assets 168.322 168,483 Funds of the charity Unrestricted funds Restricted funds 168.322 168,483 Total charity funds 10 168,322 168,483 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 with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not b￿n delivered to the Registrar of Companies under section 444 of the Companies Act 20C6. The notes on pages 9 to 14 fomi an integral part of the financial statements. 2025. 9.28aml Director Approved by the board on 19 February 2025 Lou hmacro Communi Develo ment Association Charitable Com an Limited b Guarantee Notes to the Accounts for the ear ended 31 Ma 2024 1 Accountin olicies Basis of preparation The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction values unless otherwise 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 102), the Companies Act 2006 and the Charities Act (Northem Ireland) 2008. The currency used for the reporting of these financial statements is Sterling (£) Going 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 two 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 propety held for charitable purposes. This income is applied for charitable purposes only and included in full in the Statement of Financial Activates when re￿1Vable. Resources expended Expenditure is recognised on an accruals 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 govemance of the charity apportioned to charitable activities. ## _**Disclosure exemptions**_ ## _**Judgements and key sources of estimation uncertainty**_ ## _**Grant income**_ ## _**Tangible fixed assets**_ ## _**Creditors**_ ## _**Taxation**_ ## _**Financial instruments**_ _**Unrestricted funds Restricted funds**_ _**Unrestricted funds Restricted funds Unrestricted funds Restricted funds Total resources expended**_ Lou hmacro Communi Develo ment Association Charitable Com an Limited b Guarantee Notes to the Accounts for the ear ended 31 Ma 2024 6 Tan ible fixed assets Fixtures. fittings and equipment Land and buildings Total Cost At 1 June 2023 2,008,856 2,008,856 45,305 45,305 2,054,161 2,054,161 At 31 May 2024 Depreciation At 1 June 2023 Charge for the year At 31 May 2024 336,050 33,456 369,506 35,290 2,506 37,796 371,340 35,962 407,302 Net book value At 31 May 2024 1,639,350 7,509 1,646,859 At 31 May 2023 1,672,806 10,015 1,682,821 7 Debtors 2024 2023 Other debtors 1,118 8 Creditors: amounts fallin due within one ear 2024 2023 Bank loans and overdrafts Trade creditors and accruals 23 5.170 5,193 5,690 5.310 11,000 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. 9 Creditors: amounts fallin due after one ear 2024 2023 Deferred government grants 1,483,369 1,483.369 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 1,514,977 Amortised to profit and loss (31,608) Closing balan 1,483,369 13 _**Unrestricted funds Restricted funds**_ _**Unrestricted funds Restricted funds**_ Lou hmacro Communi Develo ment Association Detailed statement of financial activities for the ear ended 31 Ma 2024 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds 2023 Total funds Income 20,253 3,681 23,934 28,594 Expenditure on charitable activities Premises costs Administrative expenses Legal and professional costs 4,666 12,103 1,080 17.849 4,666 18,349 1,080 24.095 4,926 22,234 1,320 28,480 6.246 6.246 Net incomel ex enditure forthe ear 2,404 2,S65 161 114 15 Lou hmacro Communi Develo ment Association Detailed statement of financial activities for the ear ended 31 Ma 2024 Unrestricted funds 2024 Restricted funds 2024 Total funds Total funds 2024 2023 Income Donalions Fundraising events Grants receivable Renewable Energy Income Rent received other income 2.969 3.815 1,250 2.969 3.815 4,931 6,845 825 8,012 534 10,578 1,800 28,594 3,681 11.635 11.635 20,253 3,681 23,934 Expenditure on charitable activites Premises costs.. Light and heat 4.666 4,666 4,666 4,666 4,926 4,926 General administrative expenses.. Telephone and fax Bank charges Interest Insurance Equipment expensed Repairs and maintenan Depreciation Amortisation of capital grant Evenls and enlerlaining Sundry expenses Community centre lights Summer scheme expenditure Lough walk general maintenance 494 120 309 3,105 494 120 309 3,105 625 211 581 2,674 1,250 4,017 37,479 132,699) 381 2.861 35,962 (31.6081 360 500 2.861 35,962 131,6081 360 500 2,000 200 6.046 6.246 200 6.046 18,349 5,561 22,234 12.103 Legal and professional costs.. Accountancy fees 1,080 1.080 1,080 1.080 1,320 1,320 17.849 6.246 24,095 28,480 16