COMPANY REGISTRATION NUMBER: NI059605 CHARITY REGISTRATION NUMBER: 101000
Cleenish Renewal Co Ltd Company Limited by Guarantee
Financial Statements
30 June 2023
Cleenish Renewal Co Ltd
Company Limited by Guarantee
Financial Statements
Year ended 30 June 2023
| Page | |
|---|---|
| Trustee's annual report (incorporating the director's report) | 1 |
| Independentexaminer's report to the members | 3 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | Error! |
| Bookmark | |
| not | |
| defined. | |
| Notes to the financial statements | 8 |
Cleenish Renewal Co Ltd
Company Limited by Guarantee
Trustee's Annual Report (Incorporating the Director's Report)
Year ended 30 June 2023
The trustee, who is also the director for the purposes of company law, presents his report and the financial statements of the charity for the year ended 30 June 2023.
Reference and administrative details
Registered charity name Cleenish Renewal Co Ltd
Charity registration number 101000 Company registration number NI059605 Principal office and registered The Cleenish Centre, Killywillin, Bellanaleck, Co Fermanagh, BT92 2BT
The trustee
Trevor Kingston George Johnston Martyn Neil
Structure, governance and management
The organisation is managed by the Trustees who personally direct day to day operations carried out by part-time staff, volunteers and the Trustees themselves.
Objectives and activities
The principal objectives are to further the Christian Faith through the provision of accommodation and conference facilities for Spiritual Reflection, Christian Fellowship & Christian Outreach.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
Achievements and performance
The Charity continues to provide accommodation and services to its target groups.
Financial review
Income from Charitable Activities continues to recover from the effects of the Covid pandemic and in the meantime the charity is supported by its Trustees.
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Cleenish Renewal Co Ltd
Company Limited by Guarantee
Trustee's Annual Report (Incorporating the Director's Report) (continued)
Year ended 30 June 2023
Trustee's responsibilities statement
The trustee, who is also a director for the purposes of company law, is responsible for preparing the trustee's report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity trustee to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure, for that period.
In preparing these financial statements, the trustee is required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the applicable Charities SORP;
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustee is responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustee's annual report and the strategic report were approved on 30[th] April 2024 and signed on behalf of the board of trustees by:
___ ______ Trevor Kingston George Johnston
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Cleenish Renewal Co Ltd
Company Limited by Guarantee
Independent Examiner's Report to the Members of Cleenish Renewal Co Ltd
Year ended 30 June 2023
I report on the accounts of the company for the year ended 30 June 2023, which are set out on pages 5 to 14.
Respective responsibilities of charity trustees and examiner
As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 65 of the Charities Act
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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
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state whether particular matters have come to my attention.
Basis of independent examiner’s report
I have examined your charity accounts as required under section 65 of the Charities Act and my 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. The examination included a review of the accounting records kept by the charity 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 charity trustees concerning any such matters.
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My role is to state whether any material matters have come to my attention giving me cause to believe: 1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006
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That the accounts do not accord with those accounting records
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That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice CCNI ARR07 – supporting document 7 August 2016 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
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That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner’s statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
Name:
Address:
Date: 30[th] April 2024
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Cleenish Renewal Co Ltd
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 30 June 2023
| Note Income and endowments Charitable activities 5 Total income Expenditure Expenditure on charitable activities 6,7 Total expenditure Net expenditure and net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward |
2023 2022 Unrestricted funds Total funds Total funds £ £ £ 24,621 24,621 19,791 |
|---|---|
| 24,621 24,621 19,791 |
|
| 26,051 26,051 20,692 |
|
| 26,051 26,051 20,692 |
|
| (1,430) (1,430) (901) |
|
| 13,364 13,364 14,265 |
|
| 11,934 11,934 13,364 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 10 to 16 form part of these financial statements.
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Cleenish Renewal Co Ltd
Company Limited by Guarantee
Statement of Financial Position
30 June 2023
| Note Fixed assets Tangible fixed assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current liabilities Total assets less current liabilities Creditors: amounts falling due after more than one year 14 Net assets Funds of the charity Unrestricted funds: Revaluation reserve Other unrestricted income funds Total unrestricted funds Total charity funds 15 |
2023 2022 £ £ 254,422 257,999 2,265 2,115 340 9,342 |
|---|---|
| 2,606 11,458 10,069 11,334 |
|
| 10,069 11,334 |
|
| 246,958 258,122 235,024 244,758 |
|
| 11,934 13,364 |
|
| 287,525 372,525 (275,591) (269,676) |
|
| 11,934 102,848 |
|
| 11,934 102,848 |
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:
___ ______ Trevor Kingston George Johnston
The notes on pages 10 to 16 form part of these financial statements.
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Cleenish Renewal Co Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 June 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is The Cleenish Centre, Killywillin, Enniskillen, County Fermanagh, BT92 2BT .
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charities Act (Northern Ireland) 2008.
3. 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 income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue. The trustees are continuing to fund any ongoing shortfall while the charity continues to move towards being selffunding via its charitable operations and donations.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustee for particular future project or commitment.
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.
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Cleenish Renewal Co Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
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expenditure on raising funds includes the costs of all fundraising activities, events, noncharitable trading activities, and the sale of donated goods.
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expenditure on charitable activities includes all costs incurred by a 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.
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other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
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Cleenish Renewal Co Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
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:
Lease assets – straight line over the life of the lease Fixtures, fittings and equipment – 15% reducing balance
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, 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 at each reporting date.
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-generating unit to which the asset belongs. The cash-generating unit 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 impairment testing 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 charity are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
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Cleenish Renewal Co Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
3. Accounting policies (continued)
Financial instruments (continued)
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4. Limited by guarantee
The Trust is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
5. Charitable activities
| Income from charitable activities Donations Total Income |
Unre- stricted Funds Total Funds 2023 Unrestricted Funds Total Funds 2022 £ £ £ £ 24,621 24,621 4,297 4,297 0 0 2,000 2000 |
|---|---|
| 24,621 24,621 6,297 6,297 |
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Cleenish Renewal Co Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
6. Expenditure on charitable activities by fund type
| Activity type 1 Support costs |
Unrestricted Funds Total Funds 2023 Unrestricted Funds Total Funds 2022 £ £ £ £ 11,732 11,732 9,509 9,509 14,319 14,319 11,183 11,183 |
|---|---|
| 26,051 26,051 20,692 20,692 |
7. Expenditure on charitable activities by activity type
| Activity type 1 Governance costs |
Total funds 2023 Total fund 2022 £ £ 11,732 9,509 14,319 11,183 |
|---|---|
| 26,051 20,692 |
8. Net expenditure
Net expenditure is stated after charging/(crediting):
| Depreciation of tangible fixed assets | 2023 2022 £ £ 3,577 3,645 |
|---|---|
9. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 826 | 3,042 |
| ============== | ======================= |
The average head count of employees during the year was 0 (2022: 1).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
10. Trustee remuneration and expenses
Trustees receive no remuneration from Cleenish Renewal Co Ltd. Trustees receive no expenses payments. Trustees have paid Charity expenses from time to time and these expenses have been verified and added to the balance of monies owed to Trustees as shown in Note 14. Money owed to Trustees is entirely made up of money loaned directly to the charity by Trustees on an interest free basis and Charity expenses paid by Trustees and thereafter treated as a loan. It is agreed between the Trustees that payment of this loan will not be required until the Charity can pay it without causing it financial difficulty.
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Cleenish Renewal Co Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
11. Tangible fixed assets
| Cost At 1 July 2022 and 30 June 2023 Depreciation At 1 July 2022 Charge for the year At 30 June 2023 Carrying amount At 30 June 2023 At 30 June 2022 |
Long lease- hold property Plant and machinery Total £ £ £ 303,709 17,484 321,193 48,279 14,916 63,194 3,192 385.2 3,577 |
|---|---|
| 51,470 15,301 66,771 |
|
| 252,239 2,183 254,422 |
|
| 255,430 2,568 257,999 |
12. Debtors
| Prepayments and accrued income | 2023 2022 £ £ 2,265 2,115 |
|---|---|
13. Creditors: amounts falling due within one year
| Bank loans and overdrafts Trade creditors Social security and other taxes |
2023 2022 £ £ 8,036 8,036 2,033 1,433 0 1,865 |
|---|---|
| 10,069 11,334 |
14. Creditors: amounts falling due after more than one year
| Bank loans and overdrafts Amounts owed to Trustees |
2023 2022 £ £ 138,614 148,928 96,410 95,830 |
|---|---|
| 235,024 244,758 |
13
Cleenish Renewal Co Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
15. Analysis of charitable funds
Unrestricted funds
Unrestricted funds
Unrestricted funds
| General funds Revaluation reserve General funds Revaluation reserve |
At 1 July 2022 Income Expendi- ture At 30 June 2023 £ £ £ £ (274,161) 24,621 (26,051) (275,591) 287,525 - - 287,525 |
|---|---|
| 13,364 24,621 (26,051) 11,934 |
|
| At 1 July 2021 Income Expendi- ture At 30 June 2022 £ £ £ £ (273,260) 19,791 (20,692) (274,161) 287,525 - - 287,525 |
|
| 14,265 19,791 (20,692) 13,364 |
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Cleenish Renewal Co Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 30 June 2023
16. Analysis of Income and Expenses
( All Unrestricted funds)
| (All Unrestricted funds) | |
|---|---|
| Income from groups Covid Grants Bank interest received Donations Total Income Food purchases Wages Light & heat Rent Water rates Repairs and maintenance Insurance Cleaning Bin collections Telephone & internet Bank interest – loan Bank charges Depreciation & impairment Total Expenses Net Income / Expenses |
(All Unrestricted funds) 2023 2022 £ £ 24,621 4,296 15,494 - 1 - - |
| 24,621 19,791 2,430 356 826 3,042 2,930 1,387 - - 615 228 500 970 2,343 2,415 869 160 160 - 1,058 951 10,463 7,506 280 33 3,577 3,645 |
|
| 26,051 20,692 |
|
| (1,430) (901) |
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