COMPANY REGISTRATION NUMBER: N1032413 Kilkeel Community Association Company Limited by Guarantee Unaudited Financial Statements 31 March 2018 LENFESTEY & CO Chartered Accountant The Masters House 10 Abbey Yard Newry Co Down Bt34 2eg Kilkeel Community Association Company Limited by Guarantee Financial Statements Year Ended 31 March 2018 Contents Page Officers and professional advisers Trustees, report Statement of comprehensive income Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Report to the board of directors on the preparation of the unaudited statutory financial statements 10 Detailed income statement 11 Notes to the detailed income statement 12 Kilkeel Community Association Company Limited by Guarantee Officers and Professional Advisers The board of directors Mrs N Feron Mr R Connolly Mr R Ewart Mr J Higgins Mrs A Rice Company secretary Nancy Feron Registered offlce 3 Meeting House Lane Kilkeel Co Down BT34 4AE Accountants Lenfestey & Co Chartered accountant The Masters House 10 Abbey Yard Newry Co Down BT34 2EG Bankers Bank of Ireland 12 Trevor Hill Newry Co Down BT34 1 DT Solicitors C Murnion & Co 7 Greencaslle Street Kilkeel Co Down BT34 4BH Kilkeel Community Association Company Limited by Guarantee Trustees, Report Year Ended 31 March 2018 The Iruslees present their report and the unaudited financial statements of the Company for the year ended 31 March 2018. Incorporatlon The company was incorporated on 22nd May 1997 and is a registered charity. Trustees The trustees who served the company during the year were as follows". Mrs N Feron Mr R Connolly Mr R Ewart Mr J Higgins Mrs A Rice Small company provisions This report has been prepared in accordance with the provisions applicable to companies enliued to the Small companies exemption. This report was approved by the board of directors on 30 August 2018 and signed on behalf of the board by.. Mr5 N Feron Trustee Nancy Feron Company Secretary Registered office.. 3 Meeting House Lane Kilkeel Co Down B T34 4AE Kilkeel Community Association Limited Statement of Finaneial Activities for the year ended 31 March 2018 Intoming Resources Unrestricted Funds Restrieted Designated Total Funds Funds 2018 Total 2017 Activities for furtherance of the eharity's objectives: Room Hire Donations Halifax Community Associations Awards for All Parent Toddler Group - Early Years Limavady CDI Southern Health & Social Care Trust 2,090 617 3,000 2,090 617 3.000 9,999 2,625 9,999 3,872 1,550 6.15? 17,701 1,550 6,152 23,408 6,177 12,674 5,707 Resources Expended Costs of generating funds: Charitable expenditure: Room Hire Rent & rates Ligl)t and heat Insurance Wages and salaries Motor & Traveling Telcphoi)¢ Printing. Stationery and postage Sundry expenses Activity projects expenses Bank charges Accountancy fees Depreciation of equiptnent 1,057 1,400 118 1,001 1,057 1,400 118 ,001 7,027 237 640 287 156 512 127 660 603 735 2,400 522 854 8,978 120 588 103 134 4,859 117 636 614 7,027 237 640 287 156 512 127 660 603 4,519 1,188 9,306 8J95 13,825 9,583 20,660 (7,986) Net incoming resources surplusl(deficit) for the year Balances Brouglit Fonvard Balances Carried Fonvard 10,549 11,737 1,529 9,924 12,078 21,661 20.064 12,078 The cliarity has no recognised gains or105ses other tlian the results for Ilie year as set out above. All activities of the cl)arity are classed as ¢ontinuing. Page3- Kilkeel Community Association Company Limited by Guarantee Statement of Financial Position 31 March 2018 2018 2017 Note Fixed assets Tangible assets 5,436 6,039 Current assets Debtors Cash at bank and in hand 1.556 15.329 6,789 16,885 6,789 Creditors: amounts falllng due wlthln one year Accruals and deferred income 660 750 Net current assets 16.225 6,039 12,078 12,078 Total assets less current liabilities 21.661 Net assets 21,661 Capital and reserves Profil and loss account 21,661 21,661 12,078 12,078 Members funds These financi81 statements have been prepared in accordan￿ with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. For the year ending 31 March 2018 the company was entitled lo exemption from audit under $ection 477 of the Companies Act 2006 relating lo small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial slatemenls. The statement of financial position continues on the following page. rhe not85 on pages 6 to 8 forni part of these financlal statements. Kilkeel Community Association Company Limited by Guarantee ststement of Financial Position (c¢)ntintJed) 31 March 2018 These financial staternents were approved by the board of directors and authorised for issue on 30 August 2018, and are signed on behalf of the board by". Mrs N Feron Trustee Company registration number.. N1032413 The not¢$ on page$ 6 to 8 form part ol these financial statements. Kilkeel Community Association Company Limited by Guarantee Notes to the Financial Statements Year Ended 31 March 2018 General information The company is a private company limited by guarantee, registered in Northem Ireland. The address of the registered office is 3 Meeting House Lane, Kilkeel, Co Down. BT34 4AE. Statement of compliance These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. Accounting policies Basis of preparation The financial 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 profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management lo 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 expectations of future events that are believed to be reasonable under the circumstsnces. Revenue recognition Turnover is measured at the fair value of the consideration received or re￿1vable for goods supplied and services rendered, nel of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods)., the amount of revenue can be measured reliably", it is probable that the associated economic benefits will flow lo the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Revenue from the rendering of services is measured by reference to the stage of complètion of the service transaction at the end of the reporting period provided that the outeome can be reliably estimated. Vvhen the outcome cannot be reliably eslimaled, revenue is recognised only to the extent that expenses recognised are recoverable. Tangible assets Tangible assets are Initially recorded at cost, and subsequently staled at cost less any accurnulaled depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded al the fair value al the date of revaluation less any subsequent accumulated depreciab'on and subsequent accumulated impairment losses. Kilkeel Community Association Company Limited by Guarantee Notes to the Financial Statements fcontinued) Year Ended 31 March 2018 Accounting policies rcontlnued) Tangible assets (Continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other omprehensive income and accumulated in equity, except to the exlenl it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the earrying amount of an asset as a result of revaluation, is recognised in other comprehensive irtome lo the extent of any previously recognised revaluation increase accumulated in equty in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profil or loss. Depreciation Depreciation is calculated so as lo write off the cost or valuation of an asset, less ils residual value, over the useful economic life of that asset as follows-. Equipment 10 /¢ reducing balance Impairment of fixed assets A review for indicators of impairment is ¢arried out al each reporting date, with the recoverable amount being eslimaled where such indicalois exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting dale. For the purposes of impairment testing. when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generaling unil lo which the asset belongs. The c8sh-generaling unit is the smallest identifiable group of assets that includes the asset and generates eash inffows that largely independent of the cash inflows from other assets or groups of assets. For impaimienl testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated lo each of the cash-generaling units that are expected lo benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units. Company limited by guarantee Every member of the company undertakes to contribute lo the assets of the Company, in the event of the same being wound up while il is a member, or within one year after it ceases lo be a member, for payment of the debts and liabilities of the Company contracted before il ceases lo be a member,. and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributories among themselves, such amount as may be required not exceeding one pound. Employee numbers The average number of persons employed by the company during the year amounted to 112017.. Kilkeel Community Association Company Limited by Guarantee Notes to the Financial Statements (conlinuedj Year Ended 31 March 2018 Profit before taxation ProfiU{loss) before laxalion is staled after charging.. 2018 2017 Depreciation of tangible assets 603 614 Tangible assets Equipment Total Cost At 1 Aprll 2017 and 31 March 2018 Depreciation At 1 April 2017 Charge for the year At 31 March 2018 14,076 14.076 8,037 603 8.037 603 8,640 8,640 Carrying amount At 31 March 2018 5,438 6,039 5,436 6,039 Al 31 March 2017 Debtors 2018 2017 Other debtors 1,556 Related party transactlons No transactions with related parties were undertaken such as are required to be disclosed under Financial Reporting Standard 8. Kilkeel Community Association Company Limited by Guarantee Management Information Year Ended 31 March 2018 The following pages do notform part of the flnancial statements. Kilkeel Community Association Company Limited by Guarantee Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of Kilkeel Community Association Year Ended 31 March 2018 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial stslemenls of Kilkeel Community Association for the year ended 31 March 2018, which comprise the statement of comprehensive income. slalemenl of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of Chartered Accountsnts Ireland, we are subject to its ethic81 and other professional requirernents which are detailed al www.charteredaccount8nts.ie. This report is made solely to the Board of Directors of Kilkeel Community Association, as a body, in accordance with the terffl5 of our engagement letter dated 30 August 2018. Our work has been undertaken solely lo prepare for your approval the financial statements of Kilkeel Community Association and slate those matters that we have agreed lo stale lo you, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed al www.charteredaccounlants.ie. To the fullest exlenl pemiitted by law, we do not accept or assume responsibility to anyone other than Kilkeel Community Association and its Board of Directors, as a body, for our work or for this report. It is your duty to ensure that Kilkeel Community Association has kept adequate accounting records and lo prepare slatulory financial statements that give a true and fair view of the assets, liabilities, financial position and profil of Kilkeel Community Association. You consider that Kilkeel Community Association is exempt from the slatulory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of Kilkeel Community Association. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore. express any opinion on the statutory financial stalemenls. LENFESTEY & CO Chartered accountant The Masters House 10 Abbey Yard Newry Co Dciwn BT34 2EG 30 August 2018 -10- Kilkeel Community Association Detailed Income Statement Year Ended 31 March 2018 2018 2017 Turnover Room hire Donations Halifax Communty Associations Awards for All Parent Toddler Group - Early Years Limavady CDI Southern Health & Social Care Trust 2.090 617 3,000 9,999 2.625 3,872 1,550 6,152 23.408 6,177 12,674 Gross profit 23.408 12,674 Overheads Administrative expenses 13,825 20.660 Operating profitlllossl 9.583 17,986) ProfiU{lossl before taxation 9,583 17.986} 11 Kilkeel Community Association Notes to the Detailed Income Statement Year Ended 31 March 2018 2018 2017 Administratlve expenses Wages and salaries Room Hire Rent & rates Light and heat Insuran Motor & travelling Telephone Printing postage and stationery Sundry expenses Activity projects expenses Accountancy fees Depreciation of equipment Bank charges 7,027 1,057 1AOO 118 1.001 237 640 287 156 512 660 603 127 8,978 735 2,400 522 864 120 588 103 134 4,859 636 614 117 13,825 20,660 12-