COMPANY REGISTRATION NUMBER: N1032413 Kilkeel Community Association Company Limited by Guarantee Filleted Unaudited Financial Statements 31 March 2019
Kilkeel Community Association Company Limited by Guarantee Statement of Financial Position 31 March 2019 2019 2018 Nots Fixed assets Tangible assets 6,412 5,436 Current assets Debtors Cash at bank and in hand 1,556 15,329 16,885 4,945 4,945 Credltors: amounts falling due within one year Accruals and deferred income 660 660 Net current assets 4,285 10,697 16,225 Total assets less current liabilities 21,661 Net assets 10.697 21,661 Capital and reserves Profil and loss account 10,697 21,661 21,661 Members funds 10.697 These financial statements have been prepared and delivered in 8ccordance with the provisions applicable to companies subject lo the small companies, regime and in accordance wlh FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered. For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company lo obtain an audit of its financial slatemenls for the year in question in accordance wth section 476,. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and the preparats'on of financial slatemenls. The statement of financial position continues on the following page. The notes on pages 3 to 5 fomi part ot these financial statements.
Kilkeel Community Association Company Limited by Guarantee Statement of Financial Position (contlnued) 31 March 2019 These financial statements were approved by the board of directors and authorised for issue on 10 June 2019. and are signed on behalf of the board by". Mrs N Feron Trustee Company registration number.. N1032413 The notes on pages 3 to S fomi part of these financial ststements.
Kilkeel Community Association Company Limited by Guarantee Notes to the Financial Statements Year Ended 31 March 2019 General infomiation The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is 3 Meeting House Lane, Kilkeel, Co Down, BT34 4AE. Statement of compliance These financi81 statements have been prepared in compliance with Section 7A 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 enlily. Debtors Trade and other debtors including amounts owed by group companies are recognised initially at transaction price. A provision lor impairment is established where there is objective eviden that the company will not be able lo coliect all amounts Iyue according lo the original terms of receivables. Cash and cash èquivalents Cash and equivalents include cash on hand and demand deposits. Bank overdrafts are shown within borrowings in current liabilities on the statement of fi'nancial position. Creditors and aceruals Creditors and accruals are classified as current liabilities if payment is due within one year or less. If not they are presented as non-currenl liabilities. Trade payables are recognised initsally at the transition price and subsequently at amorh'sed cost. Judgements and key sources of estimatlon uncertainty The preparation of the financial statements requires management to make judgements. estimates and assumptions that affect the amounts reported. These esb'males and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed lo be reasonable under the circumstances. Revenue recognition Turnover is measured al the fair value of the consideration r1Ved or receivable for goods supplied and services rendered, nel of discounts and Value Added Tax.
Kilkeel Community Association Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year Ended 31 March 2019 Accounting policies (continued) Revenue recognition {contintsed) Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred lo the buyer (usually on despatch of the goods),. the amount of revenue can be measured reliably,. il is probable that the associated economic benefits will flow lo the entity-, and the costs incurred or lo be incurred in respect of the transactions can be measured reliably. Tangible assets Tangible assets are initially recorded al cost, and subsequently staled at cost less any accumulated depreciation and impairment losses. Any tangible assets carried al revalued arnounts are recorded at the fair value al the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluab'on, is recognised in other comprehensive income and accumulated in equity, exeept lo the extent il reverses a revaluation decrease of the same asset previously recognised in profil or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess sh811 be recognised in profil or loss. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Equipment 10¥ts reducing balance Impairment of fixed assets A review for indicators of impairment is Carried out at each reporting dale. with the recoverable amount being eslimaled where such indicators exist. Where the carying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impaiments are also reviewed for possible reversal al each reporting date. For the purposes of impairment testing. when it is not possible to estimate the recoverable amounl.of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit lo which the asset belongs. The cash-generaling unil 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 irnpairmenl lesling 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 company are assigned lo those units.
Kilkeel Community Association Company Limited by Guarantee Notes to the Financial Statements (contynued) Year Ended 31 March 2019 Company Ilmlted 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 aSe$ to be a member, for payment of the debts and liabilities of the Company contracted before il aSeS lo be a member, and of the costs, charges and expenses of winding up, and for the adiuslmenl of the rights of the conlributories among themselves, such amount 8$ may be required not exceeding one pound. Employee numbers The average number of persons employed by the company during the year amounted lo 112018.. 11. Tangible assets Equipment Total Cost At 1 April 2018 Additions 14,076 1,600 14.076 1,600 At 31 March 2019 15.676 15.676 Depreciation Al 1 April 2018 Charge for the year At 31 March 2019 8,640 624 8,640 624 9,264 9,264 Carrying amount At 31 March 2019 6.412 6.412 Al 31 March 2018 5,436 5,436 Debtors 2019 2018 Other debtors 1,556 Related party transactlons No transactions with related parties were undertaken such as are required lo be disclosed under Financial Reporting S18ndard 8.
COMPANY REGISTRATION NUMBER: N1032413 Kilkeel Community Association Company Limited by Guarantee Unaudited Financial Statements 31 March 2019 LENFESTEY & CO Chartered Accountant The Masters House 10 Abbey Yard Newry Co Down Bt34 2eg
Kilkeel Community Association Company Limited by Guarantee Financlal Statements Year Ended 31 March 2019 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 Detailed income statement 10 11 Notes to the detailed income statement 12
Kilkeel Communlty 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 Registgred office 3 Meeting House Lane Kilkeel Co Down BT34 4AE Accountants Lenlesloy & Co Chartered accounlanl The Masl8rs House 10 Abbey Yard Newry Co Down BT34 2EG Bankers Bank ol Ireland 12 Trevor Hill Newry Co Down BT34 1 DT Sollcitor$ C Murnion & Co 7 Greencastle Slr8el Kilkeel Co Down BT34 4BH
Kilkeel Community Association Company Limited by Guarantee Trustees, Report Year Ended 31 March 2019 The trustees pres8nl Ih8ir report and the unaudited financial statements ol the company lor the year ended 31 March 2019. Incorporation The company was incorporated on 22nd May 1997 and is a registered charity. Tru$tegS The trustees who served the company during the year were as lollows= Mrs N Faron Mr R Connolly Mr R Ewart Mr J Higgins Mrs A Rice Small company provl$lon$ This report has been prepared in accordance with the provisions applicable lo companies entitled lo the small companies exemption. This report was approved by the board ol directors on 10 June 2019 and signed on behalf of the board by.. Mrs N Feron Trustee Registered office.. 3 Meeting House Lane Kilkeel Co Down BT34 4AE
Kilkeel Cornmunity Association Statcment of Financial Activities for the year ended 31 Marrh 2019 Incomin2 Resources Unrestricted Fund5 Restricted Funds Designated Funds Total 2019 Total 2018 Activttie5 for furtheranee of the charity's objcetives: Room Hire Donations Halifax Community Associations Awards for All Limavady CDI Southern Health & Social Care Trust 3,480 3.480 2,090 617 9,999 1.550 6.15? 23,408 6.154 6.154 6,154 9,634 3.480 Resource5 Expendcd Costs of generating funds: Charitable expenditure: Room 14ire Rent & raies Light and heat Insurance Waues and salaries Motor & Traveling Telephone Priiitino siationery and postage Sundry expenses Activity projects expenses Bank Charges Accountsncy fees Depr¢¢iation of equipTnent 1,575 2,180 1.575 2,180 513 856 6.912 1,057 1,400 856 1.001 7,027 237 640 ?87 156 51? 127 660 603 6.912 676 108 676 108 150 6,181 150 6.181 163 660 660 6?4 624 6,097 (2,617) 14.>01 (8J47) 20,598 110,964) 13,825 9,583 Net incoming resource5 surp]u(der]eIt) for the year Balances Brought Forward Balance5 Caryied Forward 11.7i7 9,120 9.924 1,577 21,661 10.697 12,078 21,661 The charity has no recognised oains or losses other than the results for the year as set out above. All acliviiies of the charity are classed 35 continuing.
Kilkeel Community Association Company Limited by Guarantee Slalement of Financial Position 31 March 2019 2019 2018 Note Fixed assets Tangible assets 6,412 5,436 Current assgts Debtors Cash at bank and in hand 1.556 15.329 4,945 4,945 16,885 Creditors: amounts falling due within one year Accruals and deferred income 660 660 Net current assets 4,285 16,225 21,661 Total assets less current liabilities 10,697 Net assets 10,697 21.661 Capital and reserves Profil and loss account 10,697 10,697 21,661 Members funds 21,681 These lillancial stalemenls have been prepared in accordance with ihe provisions applicable lo companies subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic ol Ireland.. For the year ending 31 March 2019 the company was entitled to exemption from audit under section 477 01 the Companies Act 2006 relaling lo small companies. Directors, responslbilities.. The members have not required the company to obtain an audit ol its financial statements lor the year in question in accordance with section 476., The direclors acknowledge thèir responsibilities lor complying with the requirements ol the Act with respect to accounting records and the preparation ol financial statements. The statement of financial position continues on the following page. The notes on pages 6 to 8 form part of thgs¢ fKnancial statements.
Kilkeel Community Association Company Limited by Guarantee Statement of Flnancial Position (nInued) 31 March 2019 These financial slalemenls were approved by the board ol directors and auihorised lor issug on 10 June 2019, and are signed on behalf ol the board by= Mrs N Feron Trustee Company registration number.. N1032413 Th& notes on pages 6 to 8 fomi parl of thes& linaneial slatements.
Kilkeel Communily Association Company Limited by Guarantee Notes to the Financial Statements Year Ended 31 March 2019 General inforniation The company is a private company limited by guarantee, registered in Northgrn Ireland. The address ol the registered office is 3 Meeting House Lane, Kilkeel, Co Down. BT34 4AE. Statement ol compliance These financial statements have been prepared in compliance with Section 1 A of FRS 102. 'Thg Financial Reporting Standard applicable in the UK and the Republic of Ireland,. Accounting policies Basi$ of preparatlon The financial statements have been prepared on the historical cost basis, as modili8d by the revaluation of certain financial assets and liabilities and investment properties measured at lair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Debtors Trade and other debtors including amounts owed by groLJP companies are recognised initially al transaction price. A provision lor impairment is established where there is objective evidence that the company will not be able to collect all amounts due according lo the original terms of receivables. Cash and cash equlvalents Cash and equivalents include cash on hand and demand deposits. Bank overdrafts are shown within borrowings in current liabilities on the slatem8nl ol financial position. Credllors and accruals Creditors and accruals are classified as Current liabilities il payment is due within one year or less. 11 not they are presented as non-current liabilities. Trad8 payables are recognised initially al the Iransition price and subsequently al amortised cost. Judgements and key sources of estimation uncertainty The preparation ol the financial slalemenls requires management to make judgements, eslimales and assumptions that allect the amounts reported. These estimates and judgemenls are continually reviewed and are based on experience and other laclors, including expedalions ol future events Ihal are believed to be reasonable under the circumstances. Revenue recognition Turnover is measured at the lair value ol the consideration received or receivable lor goods supplied and seNices ¥endered, net ol discounts and Value Added Tax.
Kilkeel Community Association Company Limited by Guarantee Noles to the Financial Stalements {conHnuad) Year Ended 31 March 2019 Accoijnting pollcles {conUnu6d) Revenue recognition (contlnu6d) Revenu8 from the sale of goods is recognised when the significant risks and rewards of ownership have transferred lo the buyer (usually on despatch ol the goods)., the arnount ol revenue can be measured reliably. il is piobable that the associated economic benefits will flow lo Ihe enlily., and the costs incurred or lo be Incurred in respect ol the transactions can be measured reliably. Tangible assets Tangible assets are initially recorded at Cost, and subsequently slated al cost less any accumulated depreciation and impairment bsses. Any tangible assets carried at revalued amounts are recorded al the lair value al the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impaimienl losses. An increase in the carrying amount ol an assal as a result ol a revaluation, is recognised in other comprehensive income and accumulated in equity, except lo the extent il reverses a revaluation decrease ol the same asset previously r8cognis8d in profil or loss. A decrease in the carrying amount of an asset as a result ol revaluation, is recognised in other comprehensive income lo the exlenl ol any previously recognised Tevalualion increase accumulated in equity in respect ol that ass81. Where a revaluation decrease exceeds the accumulated revaluation gains accumulal8d in equity in respect ol that asset. the excess shall be r8cognis8d in profil or loss. Depreclation Depreciation is calculated so as lo write oll the cost or valuation of an asset, less ils residual value, over the useful economic lila ol that asset as follows: Equipment 10°A reducing balance Impairment of f ixed assels A review for indicators ol impairment is carried out al each reporting dale, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal al each reporting dale. For the purposes ol impaimi8nl lesling, when il is not possible to estimate the recoverable arnounl ol an individual asset, an estimate is made ol the recoverable amount ol the cash-generaling unil lo which Ihg asset belongs. The cash-generaling unit is the smallest idenliliable group of assets that includes the asset and geneiales cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairmènt lesling ol goodwill, the goodwill acquired in a business combination is, from Ihe acquisition dal8, allocated lo each ol the ¢ash-generaling units that are expected lo benefit from the synergies ol the combinalion, irrespective ol whether other assets or liabilities ol the company ar8 assigned to those units.
Kilkeel Community Association Company Limited by Guarantee Notes to the Financial Statements (Gontinu8d) Year Ended 31 March 2019 Company limited by guarantee Every member ol the company undertakes to contribute lo tho assets ol the Company, in the event ol the same being wound up while il is a member, or within one year aller it ceases lo be a member, for payment ol the debis and liabilities ol the Company conlracled before il aSeS lo be a member., and of the costs, charges and 8xpenses of wnding up, and lor the adjuslmsnl of the rights ol the contribulories among themselves, such amount as may bo required not exceeding one pound. Employee numbers The average number ol persons employed by the company during the year amounted lo 1 12018.. Prollt before taxation ILoss}Iprofit before laxalion is slated after charging.. 2019 2018 Depreciation ol tangible ass8ls 624 603 Tangible assets Equipmenl Total Cost Al 1 April 2018 Additions 14,076 1,600 14,076 1,600 15,676 At 31 March 2019 15.676 Depreciation Al 1 April 2018 Charge lor tha year At 31 March 2019 8,640 624 8,640 624 9,264 9,264 Carrying amount At 31 March 2019 6,412 6,412 At 31 Malch 2018 5,436 5,436 Debtors 2019 2018 Oihgr debtors 1,556 Related party transactions No transactions with related parties were undGrtakgn such as are required lo be disclosed under Financial Reporting Standard 8.
Kilkeel Community Association Company Limited by Guarantee Management Information Year Ended 31 March 2019 The tollowing pages do not fomi part of the tinanclal ststements.
Kilkeel Community Association Company Limited by Guaranlee Report to Ihe Board ot Directors on the Preparation of the Unaudited Slatutory Financial Slatements of Kilkeel Community Association Year Ended 31 March 2019 In order lo assist you to lullil your duties under Ihe Companies Act 2006, we have prepared for your approval the financial stal@menls ol Kilkeel Community Association for the year ended 31 March 2019, which comprise the statement ol comprehensive income, slalement ol financial position and the related notes from the companls accounting records and from information and explanations you have given ¢Js. As a praclising member fim) ol Chartered Accountants Ireland, we are subject to ils ethical and other professional requirements which are detailed al www.charteredaccoLtntants.ie. This report is made solely to the Board ol Directors of Kilk8el Community Association. as a body, in accordance with the terms ol our engagement lett8r dated 30 August 2018. Our work has been undertaken solely lo prepare lor your approval th8 financial slalements of Kilkeel Community Association and slate those matters that we have agreed lo slate lo you, as a body, in this report in accordance with the iequirements of Chartgred Accounlanls Ireland as detailed at www.chartGradaccounlanls.ie. To the fullest extent permitted by law, we do not apt or assume responsibility lo anyone other than Kilkeel Communily Association and its Board of Directors, as a body, lor our work or lor this report. It is your duty lo ensure that Kilkeel Communtty Association has kept adequate accounting records and lo prepare statutory financial statements that give a true and lair vi8w ol the assets, liabilities, financial position and loss ol Kilkeel Community Association. You consid8r that Kilkeel Community Association is exempt from the slalutory audit requirement for the year. We have not been instructed lo carry out an audil or a review ol the Ilnancial statements ol Kilkeel Community Association. For Ihis reason, we have not verilied the accuracy or completeness ol the accounting records or information and explanations you have given to us and we do not. therefore. express any opinion on the slalulory linanciai statements. LENFE TEY& Chartergd accountant Th8 Masters House 10 Abbey Yard Newry Co Down BT34 2EG 10
Kilkeel Community Association Detailed Income Slatement Year Ended 31 March 2019 2019 2018 Turnover Room hire Donations Halilax Community Associations Awards lor All Limavady CDI Southern Health & Social Care Tiust 3,480 2,090 617 3.000 9.999 1,550 6,152 6,154 9,634 23,408 Gross profit 9.634 23,408 Overheads Adminislyative expenses 20.598 13,825 Operating {loss)Iprofit 110.9641 9,583 ILoss)Iprofit before taxation {10,964) 9,583 11
Kilkeel Community Association Notes to the Detailed Income Statement Year Ended 31 March 2019 2019 2018 Administrative expenses Wages and salaries Room Hire Rent & rates Light and heat Insurance Motor & travelling Telephone Printing postage and stationery Sundry expenses Activity projects expenses Accountancy lees Depreciation of equipment Bank charges 6,912 1,575 2,180 513 856 7.027 1,057 1,400 118 1,001 237 640 287 156 512 660 603 127 676 108 150 6,181 660 624 163 20,598 13,825 12