ids. Company Registration No. N1025202 (Northern Ireland) chartered accountants COLERAINE AND DISTRICT SOCIETY OF MODEL ENGINEERS LTD ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 18G COLERAINE AND DISTRICT SOCIETY OF MODEL ENGINE STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT artere accountants FOR THE YEAR ENDED 31 JANUARY 2025 Unrestricted funds 2025 Unrestrlcted funds 2024 Notes Income from: Donations and legacies Charitable activities Investments 405 8,693 320 6,426 Totsl Income 9,102 6,746 Expendlture on: Charitable activities 8,495 7,475 Total expenditure 8,495 7,475 Net Incornel{expendlturel and movement In funds 607 (7291 Reconciliatlon of funds: Fund balances at 1 February 2024 5,485 6,214 Fund balances at 31 January 2025 6,092 5,485 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivities. COLERAINE AND DISTRICT SOCIETY OF MODEL ENGINE chartered accountants BALANCE SHEET AS AT31 JANUARY2025 2025 2024 Notes Current assets Cash at bank and in hand 7,092 5,485 Creditors: amounts falling due within one year 11 {1,000} Net current assets 6,092 5,485 The funds of the Coleralne and Dlstrlct Soclety of Model Englneers Unrestricted funds 12 6,092 5,485 6,092 5,485 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2008, for the year ended 31 January 2025. The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect lo accounting records and the preparation of financial statements. 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. These financial statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies regime. The financial statements were approved by the Trustees on 10 July 2025 Mr R Morrison Mr T Hamill Company registration number N1025202 {Northern Ireland) COLERAINE AND DISTRICT SOCIETY OF MODEL ENGINE NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2025 artere accountants Accounting policles Charlty Informatlon Coleraine and District Society of Model Engineers Ltd is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 74 Ballykelly Road, Tullyhoe, LIMAVADY, Co Londonderry, BT49 9DS. 1.1 Accounting convention The financial statements have been prepared in accordance with the Coleraine and District Society of Model Engineers's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) leffeclive 1 January 2019}" The Coleraine and District Society of Model Engineers is a Public Benefit Entity as defined by FRS 102. The Coleraine and District Society of Model Engineers has taken advanlage of the provisions in the SORP for charities applying FRS 102 Updale Bulletin 1 not to prepare a Statement of Cash Flows. The financlal statements are prepared in sterling, which is the functional currency of the Coleraine and District Society of Model Engineers. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set OLtt below. 1.2 Golng concern At the time of approving the financial statements, the Trustees have a reasonable expectalion that the Coleraine and District Society of Model Engineers has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continuo to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at Ihe discretion of the Trustees in furtherance of their charitable objectives. 1.4 Incomlng resources Income is recognised when the Coleraine and District Society of Model Engineers is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the Coleraine and District Society of Model Engineers has been notified of the donation, unless performance Conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. COLERAINE AND DISTRICT SOCIETY OF MODEL ENGINE artere accountants NOTES TO THE FINANCIAL STATEMENTS {CONTINUED} FOR THE YEAR ENDED 31 JANUARY 2025 Accounting policies (Continued) 1.5 Resources expended Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, il is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dIr￿t costs and shared cosls, including support costs involved in undertaking each activity. Direct costs altributatle to a single activily are allocated directly to that activity. Shared costs which contribute lo more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. All expenditure is accounted for on an accruals basis and has been classified under headlngs that aggregate all costs related to the category. Where costs cannot be directly atlribuled to particular headings they have been allocated to activities on a basis consistent with use of the resources. Premises overheads have been allocated on a floor area basis and other overheads have been allocated on the basis of the head count. 1.6 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-lerm liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 8aslc flnancial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipls discounted at a market rale of interest. Financial assets classified as receivable within one year are not amortised. Basic financial liabllltles Basic financial liabilities, including creditors and bank loans are initially re¢ognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 1.7 Taxation No provision is required for taxation as the company is defined as a charity for taxation purposes. Crltlcal a¢countlng estlmates and judgements In the application of the Coleraine and District Society of Model Engineers's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. COLERAINE AND DISTRICT SOCIETY OF MODEL ENGINE accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 Income from donations and legacies Unrestricted funds 2025 Unrestricted funds 2024 Donations and gifts Membership fees 60 345 20 300 405 320 Income from charitabl8 actlvltles 2025 2024 Open days, exhibitions and sponsorship 8.693 6,426 Income from investments Un restrlcted Unrestricted funds funds 2025 2024 Inlerest receivable COLERAINE AND DISTRICT SOCIETY OF MODEL ENGINE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUARY 2025 artere accountants Expenditure on charitable activitles Total 2025 Total 2024 Dlrect costs Purchases Rent and Rates Power, light and heal Repairs and maintenance Insurance Bank Charges Miscellanous 789 1,067 1,193 2,690 2,019 45 32 1,279 2,064 363 1,138 1,903 27 41 7,835 6,815 Share of support and governance costs (see note 71 Governance 660 660 8,495 7,475 Analysls by fund Unrestricted funds 8,495 7,475 Support costs allocated to actlvities 2025 2024 Accountancy 860 660 Total 660 660 Net movement Sn funds 2025 2024 The net movement in funds is stated after chargingl{crediting)'. Fees payable for the independent examination of the Charity's financial statements 660 660 Trustees None of the Trustees {or any persons connected with them) received any remuneration during the year, (2024- one trustee was reimbursed a total of £192.21 for expenses incurred). 10 Employees There were no employees during the year. io COLERAINE AND DISTRICT SOCIETY OF MODEL ENGINE NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 JANUAR Y 2025 chartered accountants 11 Creditors: amounts falling due within one year 2025 2024 Accruals and deferred income 1,000 12 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject lo specific conditions by donors and grantors as to how they may be used. These include designated funds which have been sel aside out of unrestricted funds by the trustees for specific purposes. At 1 February 2024 Incomlng Resources At 31 January resources expended 2025 General funds 5,485 9,102 (8,4951 8,092 Previous year: At 1 February 2023 Incomlng resources Resources At 31 January éxpended 2024 General funds 6,214 6,746 {7,475} 5,485 13 Related party transactlons During the year ground rent was outstanding to a related party (2024- £1,000). 11