Cairde Screen Annual report and unaudited financial statements for the year ended 30 April 2023 Registration No: N1602796 (Northern Ireland) Charity Registration No: 101315
Cairde Screen- Flnanclal ststements for the year ended 30 Aprll 2023 Contents Page Is) Charity Information Strategic Report Directors, Report Independent Accountants, Report Statement of Financial Activities Statement of Comprehensive Income Statement of Financial Position Notes to the financial statements 10-16 rAASM
Cairde Screen - Flnanclal statements for the year ended 30 Aprll 2023 Charity Information PaBe I Directors Accountants Caroline Mccloskey Anthony Scullion Daniel Scullion Maria Mccullagh ASM IMI Ltd Chartered Accountants The Diamond Centre Market Street Magherafelt Registered Office Bankers Unit I The Diamond Centre Market Street Magherafelt Bank of Ireland Limited Market Street Magherafelt Registration Number Charity Registration Number N1602796 (Northern Ireland) 101315 ./ASM
Cairde Screen - Financial statements for the year ended 30 April 2023 Strategic Report Pa8e 2 The Directors present their Strategic Report for the year ended 30 April 2023. Principal activities The Charity's principal activity is to provide or assist in the provision of facilities and services primarily for the benefit of the community and vi51tor5 to the parish of Ballinascreen and its environ5 of South Derry for recreational, sporting or other leisure time occupation in the interests of social welfare. Review of artivities and future developments The results for the year are set out in the Statement of Financial Activities on page 7 and in the related notes. Future outlook The future developments in the Charity's activities are discussed in the Directors, Report. Grant making policy The Charity seeks applications for grants and other forms of assistance from various parties in the local area and proposals are reviewed and assessed in detail and approved by the Board of Directors. Reserves Policy The Directors have reviewed the Charity's requirements for reserves in conjunction with their analysis of the main risks for the Charity. The unrestricted funds not invested in fixed assets need to be sufficient to cover six months of annual running costs. At the date of the approval of these financial statements the Charity has approximately 2 months reserves and the Directors recognise that this will require the building up of reserves over the next few years. However the level and nature of expenditure has been analysed and an assessment made as to how reductions can be made if the need arises. This policy is reviewed annually by the Board of Directors. Principal risks and uncertainities The principal risk and uncertainty affecting the Charity is maintaining donation levels. The Charity's management endeavours to mitigate these risks by implementing regular strategic and operational reviews. Key performance indicator5 The Charity Directors are of the opinion that analysis using key performance indicators is not necessary for an understanding of the development. performance or position of the business. Financial risk management The Charity's operations expose it to a variety of financial risks that are analysed under separate subheadings below. The Charity has a risk management programme in place that seeks to limit the adverse effects of these risks on the financial performance of the Charity. Credit risk The Charity does not Sell on credit and consequently does not have any credit risk. Financial instruments The Charity does not actively use financial instruments as part of its financial risk management. Liquidity risk The Charity maintains a mixture of long term and short term debt finance that is designed to ensure that the Charity has sufficient available funds for current operations and planned expansions. Forelgn exchange rlsk The Charity's principal operating currency is sterling 1£). The Charity does not have any material transactions in foreign currencies. The Charity does not have any material exposure to foreign exchange risk. rAASM
Cairde Screen - Financial statements for the year ended 30 April 2023 Strategic Report Pa8e 3 Approval This Strategic Report was approved by the Board of Directors on 3 January 2024 and signed on its behalf by.. Caroline Mccloskey Director rAASM
Cairde Screen - Financial statements for the year ended 30 April 2023 Dirertors, Report Pa8e 4 The Directors present their report and the unaudited financial statements for the year ended 30 April 2023. Results The Statement of Financial Activities for the year ended 30 April 2023 is set out on page 7. Performance review Both the year end financial position and the financial performance for the year were as expected. Future outlook The Directors expect that the Charity's recent financial performance will be sustained for the foreseeable future. Directors The directors of the Charity at 30 April 2023, who have all been directors for the whole of the year ended on that date, are listed on page l. Corporate governance Cairde Screen is a company limited by guarantee and as such it does not have share capital. Every director being a member of the Executive Committee undertakes to contribute to the assets of the Company. in the event of the same being wound up while he is a member. or within one year after he ceases to be a member, for payment of debts and liabilities of the Company contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required not exceeding £1.00. The Company registered with the HM Revenue & Customs as a charitable body for taxation purposes IHM Revenue & Customs Charity No. XT253071. The Company was incorporated on 12 April 2010 and its governing instruments are the Memorandum and Articles of Association. The address of the Company's registered office. which is also its principal address, is given on page l. The Company is registered with The Charities Commission for Northern Ireland Icharity No. 101315}. Remuneration The directors of the Company received no remuneration other than the reimbursement of out of pocket expenses. Dividends and transfers to reserves The Directors do not recommend the payment of a dlvidend In respeci of the year ended 30 Aprll 2023. The result for the year has been transferred to reserves. Financial instruments and risk management Information on the use of financial instruments by the Charity and its management of financial risk are discussed in the Strategic Report. Changes in fixed assets The movements in fixed assets during the year are set out in note 13 to the financial statements. Research and development The Charity does not have any material research and development activities. Events afterthe reporting date There were no material events after the year end that require disclosure in the f inancial statements. Employees The Charity's policy is to consult and discuss with employees where appropriate matters likely to affect employees, interests. Disabled persons The Charity's policy is to recruit disabled workers for those vacancies that they are able to fill and all necessary assistance with initial training courses is provided. Arrangements are made, whenever possible. for retraining employees who become disabled, to enable them to perform work identified as appropriate to their aptitudes and abilities. Political donations The Charity did not make any political donations during the year or in the preceding year. rkASM
Cairde Screen - Financial statements for the year ended 30 April 2023 Dirertors, Report Pa¥e 5 Director5, respon5ibilitie5 statement The Directors are responsible for preparing the Strategic Report, the Directors, Report and the financial statements in accordance with applicable law and regulations. Company law requires the Directors to prepare financial statements for each financial year. Under that law the Directors have elected to prepare the financial statements in accordance with UK Generally Accepted Accounting Practice (UK Accounting Standards and applicable lawl. Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and the profit or loss of the Charity for that financial year. In preparing these financial statements, the Directors are required to: select suitable accounting policies and then apply them consistently: make judgements and accounting estimates that are reasonable and prudent: state whether applicable UK Accounting Standards have been followed, subject to any material departures, disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business. The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Charit¢s transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. The Directors are 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. Accounting records The measures taken by the Directors to secure compliance with the requirements of Section 386 to Section 389 of the Companies Act 2006. with regard to keeping of accounting records, are the employment of appropriately qualified accounting personnel and the maintenance of computerised accounting systems. The Charity's accounting records are maintained at Unit l. The Diamond Centre, Market Street, Magherafelt. Provisions relating to the preparation of the financial statements This report has been prepared in accordance with the provisions of the Companies Act 2006 relating to na sized companies. Approval This Directors. Report was approved by the Board of Directors on 3 January 2024 and signed on its behalf by.. Caroline Mccloskey Director rAASM
Cairde Screen- Financial statements for the year ended 30 April 2023 Independent Accountants, report to the Board of Dirertors on the unaudited financial statements of Cairde Screen Pa8e 6 We report to the directors, on our examination of the financial statements of Cairde Screen for the year ended 30 April 2023. Responsibilities and basls of report The directors of the Company are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Act INorthern Ireland) 2008. You are satisfied that the Charity is not required by charity law to be audited and have chosen instead to have an independent examination. We report in respect of our examination of the Charity's financial statements as carried out under Section 65 of the 2008 Act. In carrying out our examination we have followed the general directions by the Charity Commission for Northern Ireland under Section 65191 Ibl of the 2008 Act. Independent examinerfs statement We have completed our examination and we confirm that no matters have come to our attention in connection with our examination giving us cause to believe that in any material aspect. Accounting records were not kept as required by with Section 63 of the 2008 Act; or The financial statements do not accord with those records,. or The financial statements do not comply with the accounting requirements of the 2008 Act,. or The financial statements do not comply with the applicable requirements concerning the form and contents of accounts set out in the Charities IAccounts and Reports) Regulation 2008 other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. We confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. ASM IM) Ltd Chartered Accountants The Diamond Centre Market Street Magherafelt 3 January 2024 rAASM
Cairde Screen - Flnancial statements for the year ended 30 Aprll 2023 Statement of Financial Artivities PaBe 7 Note Unrestrlcted Funds Restrlcted Funds Endowment Funds Total Total 30 April 30 April 30 April 30 Aprll 30 April 2023 2023 2023 2023 2022 112 month$l 112 months) 112 moThthsl 112 month$l 112 months) Incoming Resources Trading Income Trading revenue Trading costs 29,533 29,533 25,482 Net Trading Income Voluntary income Total incoming resources 29,533 29,533 25,482 29,533 29,533 25,482 Resources Expended Charitable attivities Governance 8ty) 8(X) 8¢XI 800 8(K) Managernent and administratiOFI Total resources expended 8CKI 8CKI 800 28,733 28,733 24,682 Amortisation of property, plant and equipment 11,4701 11,4701 11,4691 Net resources for the year before interest payable Interest payable Net resources for the year before taxatlon Taxation 27,263 27,263 23,213 li 27,263 27,263 23,213 12 Net resources for the year 27,263 27,263 23,213 The notes on page5 10 to 16 forrn part of these financial 5taternents rAASM
Cairde Screen - FSnancSal statements for the year ended 30 Aprll 2023 Statement of Comprehensive Income Pale 8 Note Urerted Funds Restritted Funds Endowment Funds Total At l May 2021 Total comprehensive income forthe year 185,216 23,213 185,216 23,213 At 30April 2022 208,429 27,263 235.692 208,429 27,263 Totsl comprehensive income forthe year At 30April 2023 All amounts above relate to continuing operations of the Charity. The notes on pa8e5 10 to 16 forrn part of these financial ststernents rkASM
Calrde Screen - FSnancSal ststements for the year ended 30 Aprll 2023 Statement of Financial Position Pa¥e 9 Note 30 Aprll 30 April 2023 2022 Flxed assets Property, plant and equipment 13 69,979 69.979 Current assets Receivables 14 ),639 95,544 57,172 Cash at barik and in hand 89,528 176,183 146,71KI Credltors- amounts fallln8 due wlthln one year 15 8,250 Netcurrent a55ets 167,183 138,450 Total 355ets less current liabilities 208,429 Provisions for liabilitie5 16 Netassets 208,429 Capital and reserves Unrestritted reseNes 208,429 Restricted reserve5 Total capitsl and reserves 235,692 208.429 The Charity has taken advantage of the exemption provided for under Section 477 of the Companies Act 2006 not to have these financial statements audited, and has done so on the ground5 that the conditions specified in Section 477 of the Companies Act 2006 are satisfied. The Charity's shareholders have not Seed a notice on the Charity under Section 476111 in accordance with Section 476121 of the Companies Act 2006. The Directors acknowledge the Charity's obligations under the Companies Act 2006 to keep adequate accounting records and prepare financial statements which give a true and fair view of the assets, liabilities and financial position of the Charity at the end of each period of account and of its profit or loss for each period of account. and otherwise comply with the requirements of the Companies Act 2006 relatin8 to financial statements so far as they are applicable to the Charity. The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small sized companies. The financial statements on pages 7 to 16 were approved and authorised for issue by the Board of Directors on 3 january 2024 and were signed on its behalf by.. Caroline Mccloskey Director Registration Number: N1602796 {Northern Ireland) Charity Registration Number: 101315 The notes on pa8e5 10 to 16 forrn part of these financial ststernents raASM
Cairde Screen - Financial statements fix the year ended 30 April 2023 Notes to the financial statements PaBe 10 l. Company Information Legal status Cairde Screen is 3 private company limited by guarantee established in Northern Ireland. Registration number and registered office The Charity's registered office address and registration number is set out on page l. Functional currency The financial Statements are prepared in sterling {£) which is the functional currency of the Charity. 2. Basis of preparation of financial statements Applicable legislation and a¢¢ounting standards These financial statements have been prepared in accordance with.. Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191- Icharities SORP IFRS 10211,. applicable UK accounting standards including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland,. the historical cost basis of accounting,. and the Companies Act 2006. Going concern The Charity made a surplus during the year ended 30 April 2023 and, at that date, the Charity's assets exceeded its liabilities. After making enquiries the Charity's directors consider there is a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future and accordingly have prepared the financial statements on the going concern basis. Funds The Charity has various types of funds for which it is responsible and which require separate disclosure. These are as follows.. lil restricted funds: income which is earmarked by the donor for specific purposes. Such purposes are within the overall aims of the organisation,. lill unrestrlcted funds: funds which are expendable at the discretion of the Directors in furtherance of the objects of the Company. In addition to expenditure on transport provision, such funds may be held in order to finance capital investment and working capital; and liiil endowment funds= funds which comprise of unrestricted funds that have been set aside by the Directors for particular purpose5. The aim and use of each designated fund 15 Set out in the notes to the financial statements. Management and administration costs Costs that relate to the costs of running the Charity, such as the costs of meetings. audit and statutory compliance and any costs which cannot be specifically identified to another expenditure classification, are separately disclosed as management and administration costs. 3. Judgements and key sources of estimation uncertainty Judgements and key sources of estimation uncertainty are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Critical judgements used in the application of accounting policies There were no critical judgements used in the application of accounting policies and the preparation of the financial statements. rkASM
Cairde Screen - Financial statements fix the year ended 30 April 2023 Notes to the financial statements PaBe 11 Crltlcal accountlng estlmates and assumptlons There were no critical accounting estimates or assumptions used in the application of accounting policies and the preparation of the financial statements. 4. Principal accounting policies Property> plant and equipment Land and buildings are stated at purchase cost, net of depreciation and any provision for impairment. The carrying value of property and plant and equipment is reviewed for impairment in each acounting period if events or changes in circumstances indicate the carrying value may not be recoverable. Depreciation is calculated to write off the cost of property and plant and equipment, less any estimated residual values, over the expected useful economic lives of the assets concerned. The principal annual rates and bases used for this purpose are as follows= A55et category Freehold and long leasehold buildines Ba515 of arnorti5alion Straieht ne 2.00% rkASM
Cairde Screen - Financial statements for the year ended 30 April 2023 Notes to the financial statements PaBe 12 Turnover Turnover represents amounts receivable for goods and services net of value added taxes and trade discounts. Investment Income Income from deposits is included, together with any related tax credit, in the Income Statement on an accruals basis. Foreign Currencie5 Transactions denominated in foreign currencies are translated into Sterling at the rate of exchange ruling at the date of the transaction. At the end of each financial accounting period assets and liabilities denominated in foreign currencies are translated into Sterling at the exchange rates ruling at that date and all exchange d ifferences are taken to the Income Statement. Financial Instruments A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it 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 amortlsed cost. Where investments in non-convertible preference shares and non-puttable ordinary share5 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, unle55 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 profit or loss, 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 im pairment, an im pairment loss is recognised in profit or loss im mediately. 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 ind ividual ly or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss 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. rAASM
Cairde Screen - Financial statements fix the year ended 30 April 2023 Notes to the financial statements PaBe 13 Deferred taxation Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements. Deferred tax is recognised on all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. Cash Flow Presentation Exemption The Company has taken advantage of the exemption from the requirements of FRS 105 to present a Statement of Cash Flows on the grounds that it is a micro sized company. 5. Directors, emoluments and key management compensation Directors, remuneration 30 Aprll 2023 30 *)ril 2022 111 months) 112 months) Aggregrate emoluments Key management remuneration The Directors are the key management of the Charitv. 6. Employee information The average number of persons (including executive Directors) employed by the Charity during the year was.. 30 Aprll 2023 30 April 2022 112 monthsl Number 112 tnonthsl Number vartivity Governance indirect payroll Total employees and their emoluments were.. 30 April 2023 30 4>ril 2022 112 monthsl 112 months) Staff ¢osts Iforthe peysons abovel Gro55 wage5 and salaries Employer'5 Social security costs rkASM
Cairde Screen - Financial statements fix the year ended 30 April 2023 Notes to the financial statements PaBe 14 7. Voluntary income Llnre5trirted Funds Re5triLted Funds Endowment Funds Total Total 30 AprN 30 Aprll 30 Aprll JO Aprll 30 April 2023 2023 2023 2023 2022 112 month$l 112 months) 112 moffthsl 112 months) 112 months) Othervoluntary income 8. Management and administration Unre#rlrte4 Funds Restrlrted Funds Endowment Funds Total Totsl 30 April 30 April 30 April 10 Aprll 30 ri1 2023 2023 2023 2023 20Z2 112 moffthsl 112 months) 112 monthsl 112 monthsl 112 months) Management & administration 9. Analysis of total resources expended Tradln8 artlvltles Charfjtable atte$ RngndS fy)¥einance In¥e#ment management Total Total 30 Aprll 30 Aprll 30 Apill 30 Aprll 30 Aprll 30 Aprll 30 Aoril 2023 20Z3 Z023 20Z3 2023 zoza 2022 112 monthsl 112 months) 112 monthsl IIZ month51 112 months) 112 monthsl 112 months) Direct expenditure 10. Net Resources Unre5tritted Funds Restricted Funds Endowment Funds Total Total 30 Aprll 30 Aprll 30 Aprll JO Aprll 30 April 2023 2023 2023 2023 2022 112 month$l 112 months) 112 month$l 112 monthsl 112 months) Net resources forthe year before interest payable is stated after charging: Accountants. fees.. Account5 preparation Depreciation charge for the year.. Owned fixed assets- property, plant and equipment 750 750 1.470 4470 1,469 11. Interest payable and similar charges 30 April 2023 30 April 2022 112 months) 112 months) Interest payable on bank loan5 and overdraft5: Repayable within five year5 and not by instalments rkASM
Cairde Screen - Financial statements fix the year ended 30 April 2023 Notes to the financial statements PaBe 15 12. Taxation No provision for taxation is required as the Company has charitable status approved by the HM Revenue & Customs. 13. Property, plant and equipment Freèhold and long leasehold bulldings Totsi C05t At l May 2022 Addition5 At 30April 2023 Deprpri*ion At l May 2022 Charge fgrthe year At 30Aprll 2023 73.512 73.512 73.512 73.512 3.533 1.470 3.533 1.470 Net bookvalue At 30April 2023 At 30April 2022 69,979 69,979 The net book value of property, plant and equipment include amounts of £Nil12022.. £Nill in respect of assets held under asset purchase agreements. 14. Receivables 30 Aprll 2023 30 April 2022 Amountsfallln8 due wlthln one year Trade receivable5 Other receivables 80,639 57.172 57,172 15. Creditors: amounts falling due within one year 30 Aprll 2023 30 Apr1 2022 Accruals 9,000 9,000 8,250 8,250 16. Provisions for liabilities Deferred taxation Deferred taxation provided in the financial statements is analysed as follows.. 30 Aprll 2C123 30April 2022 Gr05s fixed a55et tirning difference5 Net tlmlng dlfferences Timing differences not provided Deferred tax provlslon rkASM
Cairde Screen - Financial statements fix the year ended 30 April 2023 Notes to the financial statements PaBe 16 17. Pension costs Deflned contrlbutlon penslon schemes The Charity did not make any contributions to employee pension schemes during the year. 18. Contingent liabilities Under the terms of certain government grant agreements, a liability may arise to repay in whole or in part capital or revenue grant5 received if certain conditions in the grant agreements are not complied with. In the opinion of the directors the terms of the letter of offer have been complied with and a liability is not expected to arise. 19. Events after the reporting period There were no material events in the period between the end of the reporting year and the date of the approval of the financial statements. 20. Called up share capital The Company is a company limited by a guarantee and it does not have a share capital. Every director being a member of the Executive Committee undertakes to contribute to the assets of the Company, in the event of same being wound up while he is a member, or within one year after he ceases to be a member, for payment of debts and liabilities of the Company contracted before he ceases to be a member, and of the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required not exceeding £1.00. 21. Capital commitments The Charity did not have any material capital commitments at 30 April 2023 or at 30 April 2022. 22. Contracts with inception dates after the end of the reporting period The Charity did not enter into any material contractual commitments in the period between the year end and the date of approval of these financial statements. 23. Approval of the financial statements The Board of Directors approved the financial statements for issue on 3 January 2024. rkASM