COMPANY REGISTRATION NUMBER.. N1032413 Kilkeel Community Association Company Limited by Guarantee Unaudited Financial Statements 31 March 2020 LENFESTEY & CO Chartered Accountants The Masters House 10 Abbey Yard Newry Co Down BT34 2EG
Kilkeel Community Association Company Limited by Guarantee Financial Statements Year Ended 31 IVIarch 2020 Contents Page Officers and professional advisers Trustees, report Statement of income and retained earnings Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Report to the boafd of directors on the preparation of the unaudited statutory financial statements Detailed income statement 10 Notes to the detailed income statement
Kilkeei 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 office 3 Meeting House Lane Kilkeel Co Down BT34 4AE Accountants Lenfesley & Co Chartered accountants 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 2020 The trustees present their report and the unaudtted financial statements ol the company lor the year ended 31 March 2020. Incorporatlon The company was in¢ofporaled on 22nd May 1997 and is a registered ¢harity. Trustees The INstees who served the Gompany during the year were as follows: Mrs N Feyon Mr R Connolly Mr R Ewart Mr J Higgins Mrs A Rice Small company provlslons This report has been prepared in accordance with Ihe provisions applicable to companies entitled lo the small companies exemption. This report was approved by the board of directors on 19 June 2020 and srgned on behalf of the board by: Mrs N Feron Trustee Registered office= 3 Meeting House Lane Kilkeel Co Down BT34 4AE
Kilkeel Community Association Company Limited by Gu2rantee Statement of Financial Actii'ities for the yeai. ended 31 March 2020 Incoming Resources Unrestricl¢d Funds Rcstrieted Funds D¢signated Funds Total 2020 Total 2019 Activittes for furtheranee of tlie charity's objeetives: Room hire Halifax Community Associations ASDA Foundatioji Various Sinall Grants Community Funding Nl Grant Southem Healch & Social Care Trust 3,410 3.410 5.000 1,190 3,480 5,000 1,190 1.000 6.153 14.473 1.000 6.153 17,883 6.154 9,634 3,410 Resourees Eipended Costs of generating fund5: ClJarit8blc expenditurt: Room l-lire Rent & rates Litsl)t and heat Insurance Repairs and maintenance Wages and salarie5 Telepl?one Printino postage and stationery Sundry expenses Activity projects expenses Bank cliarges Accountancy fees Depreciation of equipment 143 2,400 195 642 14i ?.400 195 1.575 513 856 6.91? 444 6.447 444 6.447 68i 86 683 86 309 676 108 150 6.181 163 660 6?4 1,155 1,155 123 660 565 660 565 5.241 (1,831) 8,611 5,862 13,852 4,031 20,598 {10,964) Net incomlng resources surpluslldcfieit) ror the year Balance5 Brouglit Forward Balances Carrsed Forward 9,120 7,289 1.577 7.439 10.697 14.728 21,661 10.697 Tlie charity has no recognised gains or losses other ihan the results for the year as set OLtt above. All activities of the charity are classed as continuints
Kilkeel Community Association Company Limlted by Guaranlee Statement of Financial Posltion 31 March 2020 2020 2019 Flxed assets Tangible assets 4847 6.412 Current assets Cash at bank and in hand 9.541 4.945 Credilors." amounts falling due vthhln one year Accruals and deferred income Net current assets Total assets less current liabilltles Net assets 660 660 8WI 4.285 14728 10,697 10.697 14.728 Capltal and reserves Profil and loss account Mèmbgrs funds 1£728 14728 10.697 10,697 These financiat statemenls have been prepared in accordance with the provisions applicable to companies subjecl to the small companies. regime and in accordance with Section 1A ol FRS 102 The Financial Reportlng Standard applicable in the UK and Republic of Ireland,. For the year ending 31 March 2020 the company was entitled to exemption from audrl under section 477 of the Companies Act 2006 relating to small companies. Direclors. responsibilities: The members have not required the company to obtain an audit of Its linancial statements for the year in question in accordance with section 476: The directots acknowledge their re8ponsibililies for complying with the wuirements of the Act with respect to accounting records and ihe preparation of linancid Statements. These linancial statements were approved by the board of directors and aulhorised for tssue on 19 June 2020, and are signed on behalf of the board by- Mrs N Feron Trustee Company registration number". N1032413 The notes on pages 5 to 7 frym part of these fin*n¢lal $tatom8nt&
Kilkeel Community Association Company Limited by Guarantee Notes to the Financial Ststements Year Ended 31 March 2020 General information The company is a private company limited by guarantee, registered in Northern Ireland. The addiess 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 profil or loss. The financial slalemenls are prepared in sterling, which is the functional currency of the entity. Debtors Trade and other debtors including amounts owed by group companies are recognised initially at transaction price. A provision for impairment is established where there is objective eviden that the company will not be able lo collect all amounts due according to 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 statement of financial position. Creditors and accruals 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 initially al the transition price and subsequently al amortised cost. Judgements and key sources of estimation uncertainty The preparation of the financial slalemenls requires management lo make judgements, eslimales and assumptions that affect the amounts reported. These eslimales 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 Circumstan$. Revenue recognition Turnover is measLJred al the fair value of the consideration received 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 (continued) Year Ended 31 March 2020 Accounting policies (contsnuedj Revenue recognltion {¢orJtinued) Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred lo the buyer lusually on despatch of the goods),. the amount of revenue can be measured reliably," it is probable that the associated economi¢ benefits will flow lo the entity., and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Tanglble assets Tangible assets are initially recorded al cost. and subsequently staled al cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value al the dale 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 revaluation, is recognised in other comprehensive income and accumulated in equity, except lo the extent il reverses a revaluation decrease of the same asset previously recognised in profi'l 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. Vvhere 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 its residual value, over the useful economic life of that asset as follows". Equipment 10010 reducing balan Impairment of fixed assets A review for indicators of impairment is carried out al each reporting date, with the recoverable amount being eslimaled where such indicators exist. here the carrying value exceeds the recovefftble amount, the asset is impaired accordingly. Prior imp8irmenls are also reviewed for possible revers81 at each reporting dale. For the purpose5 of impairment lesling, when il 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 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 2$5els. For impairment lesling 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.
Kilkeel Community Association Company Limited by Guarantee Notes to the Financ(al Statements (contlnuedj Year Ended 31 March 2020 Company limited by guarantee Every member of the company undertakes to contribute to the assets of the Company, in the event of the same being wound up while it is a member, or within one year after il 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 112019.. Profit before taxation Profil before taxation is slated after charging.. 2020 2019 Depreciation of tangible assets 565 624 Tangible assets Equiprrtenl Total Cost At 1 April 2019 and 31 Mareh 2020 Depreciation At 1 April 2019 Charge for the year At 31 March 2020 15,676 15.676 9,264 565 9,264 565 9,829 9.829 Carrying amount At 31 March 2020 5,847 5.847 At 31 March 2019 6.412 6,412 Related party transactions 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 2020 The following pages do not form part of the financial 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 2020 In order to assist you lo fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Kilkeel Community Association for the year ended 31 March 2020, which comprise the statement of income and retained earnings, slalement 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 Accountants Ireland. we are subject to ils ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the Board of Directors of Kilkeel Community Association, as a body. in accordance with the terms of our engagement letter dated 30 August 2018. Our work has been undertaken solely to prepare for your approval the financial statements of Kilkeel Community Association and stale those mallers that we have 89reed lo slate lo you. as a body, in this report in accordance with the requirements of Ch8rtered Accounlanls Iland as detailed al www.charteredaccounlants.ie. To the fullest exlenl permitted by law, we do not acTrpl or assume responsibility lo 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 slalutory fin8neial 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 statutory 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 stalulory financial slatemenls. LENFESTEY & CO Chartered accountants The Masters House 10 Abbey Yard Newry Co Down BT34 2EG 19 June 2020
Kilkeel Community Association Detailed Income Ststement Year Ended 31 Ivlarch 2020 2020 2019 Turnover Room hire Halifax Community Associations ASDA Foundation Various Small Grants Community Funding Nl Grant Southern Health & Social Care Trust 3,410 5.000 1.190 1,130 1.000 6.153 3,480 6.154 17,883 9,634 Gross profit 17,883 9,634 Overheads Administrative expenses 13,852 20,598 Operating proftullossl 4,031 110,964} Profivllossl before taxation 4,031 110,9641 10
Kilkeel Community Association Notes to the Detailed Income Statement Year Ended 31 March 2020 2020 2019 Administratlve expenses Wages and salaries Room Hire Rent & rates Light and heal Insurance Repairs and maintenan Telephone Printing postage and stationery Sundry expenses Activity projects expenses Accountancy fees Depreciation of equipment Bank charges 6.447 143 2.400 195 642 444 683 86 309 1.155 660 565 123 6,912 1,575 2.180 513 856 676 108 150 6,181 660 624 163 13,852 20,598 11