Company registration number: N1040557 Antrim & Newtownabbey Seniors. Forum Company limited by guarantee Unaudited financial statements 31 March 2024
Antrim & Nevrtownabbey Seniors, Forum Company limited by guarantee Statement of income and retained eamings Year ended 31st March 2024 Unrestrlcted Restricted 2024 2023 Note Date.. Turnover 5.034 69,371 74,405 80.875 Administrative expenses (2,0091 170.170) {72,180) (68,728} Operating profitl{loss) (3,025) (800) 2,225 12.147 Other interesl receivable and similar income 74 74 19 ProfiU(loss) on ordinary activities before taxatlon 3.099 (800) 2,299 12,166 Tax on profiU(loss) on ordinary activities ProfiU(loss) for the financial year and total comprehensive income 3,099 {800) 2,299 12,166 Reserves at the start of the year 41,391 (14,8781 26,513 14,347 Reserves at end of the year 44,490 {15,678) 28,812 26,513 All the activities ofthe company are from continuing operations. Page 14
Antrim & Newtownabbey Seniors, Forum Company limited by guarantee Statement of financial position 31st March 2024 2024 2023 Note Fixed Assets Tangible assets 265 353 265 353 Current asset5 Debtors Cash at bank and in hand 300 31,303 31,603 290 28,773 29,063 Creditors: amounts falling due within one year 3,056 2,903 Net current assets Total a55et5 le55 current liabilities 28,547 26,160 Net assets/{liabllities) 28,812 26,513 Capital and reserves Restricted Fund Members Fund 115,6781 44,490 114,8781 41,391 Total 28,812 26,513 For the year ending 31st March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small Gompanies. Trustees 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 Trustees acknowledge their responsibilities for Gomplying with the requirements of the Act with respect to a¢¢ounting records and the preparation of financial statements Pag8 15
Antrlm & Newtownabbey Seniors, Forum Company limited by guarantee statement of flnancial position (continued) 31st March 2024 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 'The Financial Reporting Standard appSicable in the UK and Republic of Ireland.. These financial statements were approved by the board of Trustees and authorised for issue on 29th November 2024, and are signed on behalf of Ihe board by.. S Mccleave Trustees J Cosgrove Trustees Company registration number- N1040557 Charity Number NIC101259 Page 16
Antrim & Newtownabbey Seniors, Forum Company limited by guarantee Notes to the financial statements Year ended 31st March 2024 General infomiation The company is a private Gompany limited by guarantee, registered in. The address of the registered office is The Barron Hall, 230 Antrim Road, Newtownabbey. BT36 7QX. Statement of compliance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Stsndard applicable in the UK and the Republic of Ireland,. Accounling policies Basis of preparation The financial statements have been prePad on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investmenl properties measured at fair value through profil or loss. The financial statements are prepared in sterling, which is the functional currency of the entity. Turnover Turnover relates to grants and donations received in the general running of the Forum. Taxation The taxation expense represenls the aggregate amount of current and defefred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extenl that it relates to items recognised in other comprehensive income or directly in capital and reseNes. In this case, tax is recognised in olher comprehensive income or direclly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent thal it is probable that thèy will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by Ihe reporting date that are expected to apply to the reversal of the timing difference. Page 17
Antrim & Newtownabbey Seniors, Forum Company limited by guarantee Notes to the financial statements (continued) Year ended 31st March 2024 Tangible assets Tangible assets are initially recorded al cost and are subsequently slated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair va5ue at 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 revaluation, is recognised in other comprehensive income and accumulaled in capital and reserves, except to the extent it reverses a revaluation decrease of the same assel previously recognised in profit 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 capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in Capital and reserves in respect of that assel. the excess shall be recognised in profit or loss. Deprecialion Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful eGonomic lrfe of Ihat asset as follows: Fixtures. fittings and equipment- 25 % Reducing Balance If there is an indication that there has been a significant change in depreciation rate. useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. Page 18
Antrim & Newtownabbey Seniors, Forum Company limited by guarantee Notes to the financial statements (continued} Year ended 31st March 2024 Flnanclal instruments A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of Ihe instrument. Basic financial instruments are inilially recognised al the transaction price, unless the arrangement constitutes a financing transaction, where il is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference 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 profit or loss. 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 inslrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relalionship. Financial assets that are measured al cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If Ihere is objeclive evidence of impairment, an impaimient loss Is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on Ihe basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or105s immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what Ihe carrying amount would have been had the impaimient not previously been recognised. Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises. Limited by guarantee Page 19
Antrlm & Newtownabbey Seniors, Forum Company limited by guarantee Notes to the financial statements {continued) Year ended 31st March 2024 Losslprofit before taxation Losslprofit before taxation is slated after charging. (crediting).. 2024 2023 Depreciation of tangible assets 88 118 Tangible assets Fixtures, fitling and equipment Total Cost At 1st April 2023 Additions At 31st March 2024 11,816 11,816 11,816 11,816 Depreciation At 1st April 2023 Charge for the year At 31st March 2024 11.463 88 11,551 11,463 88 11,551 Carrying amount Al 3181 March 2024 265 265 At 31st March 2023 353 353 Debtors 2024 2023 Other debtors 300 290 Creditors.. amounts falling die within one year 2024 2023 PAYE other creditors 775 2,281 3,056 622 2,281 2,903 Controlling party The controlling party are the members of the Antrim & Newtownabbey Seniors, Forum Page 20
Antrlm & Newtownabbey Senlors, Forum Company limited by guarantee Notes to the financial statements (continued) Year ended 31st March 2024 The following pages do not form part of the statutory accounts. Page 21
Detailed income statement (continued) Turnover Affiliation fees Donations Project income Big Lottery fund (Restricted funding) A.N.B.C. (Restricted funding) Age Nl Grant 2024 2023 5,034 3,052 6,500 67,323 69,371 4,000 74,405 80,875 Gross Surplus 74,405 80,875 Gr05s Surplus percentage ioo.o% ioo.o% Overheads Administrative expenses 172,180) {72,180} (68,728 (68,7281 Operating Surplus/ {Defi¢it) 2,225 12,147 Other interest receivable and similar income 74 19 Surplus/{Deficitl on ordinary activities before taxation 2,299 12,166 2024 2023 Overheads Administrative Wages and salaries Venue hire Rent Project expenses Insurance General Running Prinling, postage and stationery Tutor costs Telephone Computer costs Legal and professional Accountancy fees Bank charges Staff welfare General expenses Depreciation of tangible a55els (55,126) (3,163) (2,767) (6.459} (1,118) (786) {1,060) (51,649) (2,4301 {1,5751 {5,455) {1,076) {2.695) (1,557) (729) (420) (108) {856} 160) (118) {457) (123) (573) (460) (88) (72,180) (68,728) Page 22