REGISTERED COMPANY NUMBER: N1027554 (Northern Ireland) REGISTERED CHARITY NUMBER: F4IC101358 Report of the Trustees and Unaudited Financial Statements for the Year Ended 31 March 2025 for Ballymote Community Project Limited M.B.McGrady & Co Chartered Accountants Rathmore House 52 St Patricks Avenue Downpatrick Co. Down BT30 6DS
Ballymote Community Projeet Limited Contents of the Finaneial Statements for the Year Ended 31 March 2025 Page Report of the Trustees Independent Examiner's Report Statement of Finaneial Activities Balance Sheet Notes to the Financial Statements 8 to 12
B8llymote Cotnmunity Project Limited Report of the Trustees for the Year Ended 31 March 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, PTesent their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities- Statement of Recomtnended Practice applicable to charities preparing theiT accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019). OWECTIVES AND ACTIVITIES Objectives and aims The charity's mission statement is as follows: "the development of a strong community spirit throuJo the Creation of pride, employment and training opportunities and social interaction within its local area." The key strategic objectives set for the year continues: l. To encourage people to become active in a voluntary capacity, organise groups if required and use the facilities offered within the cornmunity centre to make life better for themselves and their neighbours. 2. To create job and training opportunities to people of all ages within the local comrnunity through the provision of a range of business units, offices, training Tooms and catering facilities at favourable temis to encourdge inward investment in people within the geographic area. 3. To further the education of people in a range of skills in the retail and service sector5 and tl]rough opportunities to participate in non-vocational education, numeracy, literacy and other life-long skills. 4. To provide assistance in small amounts of start-up finance or rent holidays and technical or business advice to assist and create new businesses to grow or to maintain existing businesses. 5. To continue to provide community based initiatives through debt advice, comrnunity development services. grant advice services and a wide range of health services which all help to encourage unemployed and disadvantaoed people to find ways to improve their CiTcumstances and enhance their personal development. STRATEGIC REPORT Financial review Principal funding sources The principal funding SOUTces of the charity is through rental income of business units, ol¢eS, trdining roon]s and catering facilities situated within the community centre. Reserves policy The trustees have examined the charity's Tequiiements for reserves in light of the main risks of the organisation. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets held by the charity should be between 3 to 6 rnonths expenditure. Future plans The charity is committed to the continued provision of cUellt services subject to satlsfactory funding arrangernents. The trustees of the charity have retained designated reserves of £31,305 at the end of the financial year 31 March 2025 in relation to projects Telating to additional car parking and internal upgrading of the building to provide enhanced energy provisions.
Ballymote Community Project Limited Report of the Trustees for the Year Ended 31 March 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by it5 goveming document, a deed of trus¢ and constitutes a limited company, limited by guarantee, as defmed by the Companies Act 2006. The organisation is a charitable cornpany limited by guarantee, incotporated on 14th June 1993 and registered as a charity on 15th Septernber 2015. The company was established under a Memorandurn of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The Memorandum lists the company's objects as the advancernent of community development for the public benefit in Downpatrick (the "area of benefit"), in particular but not exclusively by any or all of the followinly rneans.. (i) supporting and developing the work of the cotnmunity and voluntary groups in charttable activity which seek to improve the quality of life of the inhabitants of the area of benefit. (li) the creation of training and employrnent opportunities for the unernployed by the provision of workspace, buildings andlor land for use of favouTable tenns" (iii) the advancement of education, training or Tetraining, particularly among unemployed people. and providing unemployed people with work experience. (iv) the provision of financial assistance, technical assistance or business advice or consultancy in order to provide training and employment opportunities for unemployed people in cases of financial or other charitsble need through help in setting up theiT own business or to existing businesses. In the event of the company being wound up, rnembers are requiTed to contribute an amount not exceeding £1. Recruitment and appointment of neiv trustees The directors of the company are also charity trustees for the purpose of charity law and under the company's articles of association shall manage the business of the company and exercise all powers of the company. At each annual general meeting, one third of the directors retire by rotation. Due to the nature of the charity's work, the trustees seek to ensure that the needs of the community are appropriately reflected through the diversity of trustees. To enhance this, trustees are sought who have an interest and understanding of the charity's work. Organisational structure The centre is a social enteTprise managed by a voluntary board of members. The board oversees the centre through a general manager who has designated responsibility for the day to day operational management of the centre, individual supervision of the staff team and ensuring that the team continue to develop their skills and working perforn]ance in line with good practice. The financial aspect of the centre is Tnanaged by the charity's finance officer whose function is to monitor and report to the board to enable them to make inforn]ed nding decisions for the charity not only for the present but also in ensuring the charity's objectives are sustained going forward. Charity Committee Mr Patrick Kelly - Chairperson Mr Patrick Peake Mr Joseph Torney Mr Eamonn McGrady- Secretary Mr Richard McGree*y Mr Joe Mcstay Mr Stephen Austin Ms Orla Ward Relgted parties There are no related parties within the fmancial year under Teview. REFEREIYCE AND ADMINISTRATIVE DETAILS Registered Company number N1027554 (Northern Ireland)
Ballymote Community Project Limited Report of the Trustees for the Year Ended 31 MArch 2025 Registered Charity number NIC101358 Registered office 40 Killough Road Downpatrick BT30 6PY Trustees Ms M Maguire (reSI¢d i inn024) Mr D McNabb (resigned 111712024) MT P J Kelly Mr P Peake Mr J Torney Mr E McGrady Mr R McGreevy Mr S Austin Mr J Mcstay Company Secretary Mr E McGrady Independent Examiner Mr Conaill McGrady FCA M.B.McGrady & Co Chartered Accountants Rathmore House 52 St Patricks Avenue Downpatrick Co. Down BT30 6DS Bankers AIB 42 - 44 Hill Street Newry BT34 IAU Solicitors Scullion & Green 50 St Patrick's Avenue Downpatrick BT30 6DW Report of the trustees. incorporating a strategic reporl approved by order of the board of trustees, as the company directors, on 29 July 2025 and signed on the board's behalf by.. Mr J Tomey - Trustee
Independent Examiner's Report to the Trustees or Ballymote Community Project Limited I report on the accounts of the company for the year ended 31 March 2025. which are set out on pages five to twelve. Respective responsibilities of charity trustees and examiner As the charity's trustees (and also the directors 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- examine the accounts under Section 65 of the Charities Act 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 state whether particular matters have come to my attention. Basis of the independent examiner's report I have examined your charity accounts as required under stiOn 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 unusuaI items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me Cause to believe: That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records 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 applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland That there is further inforniation needed for a proper understanding of the accounts to be reached. Independent examiner's statement I hav¢ completed my examination and bave no concerns in Tespect of the matters (l) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no rnatters that require drawing to your attention. Mr Conaill McGrady FCA M.B.McGrady & Co Chartered Accountants Rathmore House 52 St Patricks Avenue Downpatrick Co. Down BT30 6DS 29 July 2025
Ballymote Community Project Limited Statement of Fin2n¢i21 Activities for the Year Ended 31 March 2025 3113125 Total funds 3113124 Total funds Unrestricted funds Restrieted fund Notes INCOME AND ENDOWMENTS FROM Charitable activities GENERAL 197,907 197,907 201,291 Investment income 6,284 6284 Totsl 204,191 204.191 201,291 EXPENDITURE ON Charit2ble activities GENERAL 198273 198273 221,207 NET INCOME/{EXPENDITURE) 5,918 5,918 (19.916) RECONCILIATION OF FUNDS Total funds brought forward 1,772,909 1,772,909 1,792,825 TOTAL FUNDS CARRIED FORWARD 1.778,827 1,778,827 1,772,909 CONTINUING OPERA TIONS All income and expenditUTe has arisen frorn continuing activities. The notes forni part of these financial statements
Ballymote Community Project Limited Balance Sheet 31 March 2025 31nn5 Total funds 31rJ124 Total funds Unrestricted funds Restricted fund Notes FIXED ASSETS Tangible assets 1,431,105 1,431,105 1,480,647 CURRENT ASSETS Debtors Cash at bank 9?93 355,234 9J93 355234 10,250 307.387 364.627 364,627 317,637 CREDITORS Amounts falling due within one year (16,905) (16,905) (25,375) NET CURRENT ASSETS 347,722 347,722 292,262 TOTAL ASSETS LESS CURRENT LIABILITIES 1,778,827 1,778,827 1,772,909 NET ASSETS 1,778,827 1,778,827 1,772,909 FUNDS Unrestricted funds 1,778,827 1.772,909 TOTAL FUNDS 1,778,827 1,772,909 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each fmancial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirernents of the Companies Act 2006 relating to financial stateTnents, so far as applicable to the charitable company. (b) The notes forni part of these financial statements continued...
Ballymote Community Project Limited Balance Sheet- continued 31 March 2025 These financial statements have been prepared in accordance with the provisions applicable to charitsble companies subject to the small companies regime. The financial Statements were approved by the BoaTd of Ttustees and authoiised for issue on 29 July 2025 and were signed on its behalf by.. Mr P J Kelly - Trustee The notes forni part of these financial staternents
Ballymote Community Project Limited Notes to the Financial Statements for the Year EJJded 31 March 2025 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: 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) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Ineome All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be rneasured reliably. Expenditure Liabilities are Tecognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure. it 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 accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be diTectly attributed to particular headings they have been allocated to activities on a basis consistsnt with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated usehl life. Freehold Propety - 2•/0 straight line Plant and Machinery - 20 0/0 reducing balance FixtUTes and Fittings - l 00/0 reducing balance Equipment . 20010 reducing balance Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted fvnds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefjts The charitable company operates a defined contribution pension scherne. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. continued...
Ballymote Community Project Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2025 INVESTMENT INCOME 3113125 3113124 Deposit account interest 6,284 NET INCOMEI(EXPEIYDITURE) Net incomel(expendIre) is stated after chaTging(crediting)-' 3113r25 3113124 Independent examination fees Depreciation - owned assets 2,500 50,496 2,500 50,363 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS The average monthly number of employees during the year was as follows: 3113r25 31nn4 Employees No employees received emoluments in excess of £60,000. continued...
Ballymote Community Project Litnited Notes to the Fin2neial Statements - continued for the Year Ended 31 March 2025 TANGIBLE FIXED ASSETS Fixtures and rjttings Freehold property Plant and machinery Equipment Tota15 COST At l April 2024 Additions 2J46all 17,560 83,416 954 5,773 2,453,060 954 At 31 March 2025 2J46Jll 17,560 84a70 5,773 2,454,014 DEPRECIATION At l April 2024 Charge for year 897,800 46,926 14,973 517 53,905 3,046 5,735 972,413 50,496 At 31 March 2025 944,726 15,490 56,951 5,742 1,022,909 NET BOOK VALUE At J l March 2025 1,401,585 2,070 27,419 31 1,431,105 At 31 March 2024 1,448,511 2,587 29,511 38 1,480,647 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113125 31nn4 Trade debtors 9J93 10,250 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 3113n5 3113ll4 Trade creditors VAT AccnMls and deferred income 640 8,483 7,782 6,605 11,391 7,379 16,905 25,375 MOVEMEJYT IN FUNDS Net movement in funds At 3113125 At 114124 Unrestricted funds General fund Designated fund 1,741,604 31J05 5,918 1,747,522 31JOS 1,772,909 5,918 1,778,827 TOTAL FUNDS 1,772,909 5,918 1,778,827 io continued...
B8llymote Community Project Limited Iyotes to the Financial Statements continued for the Year Ended 31 March 2025 MOVEMENT IN FUls - continued Net movement in fvnds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 204,191 {198273) 5,918 TOTAL FUNDS 204,191 (198,273) 5,918 Comparatives for movement in funds Net movement in funds At 3113124 At 114123 Unrestricted funds General fund Designated fund 1,761,520 31,305 (19,916) 1.741,604 31,305 1,792,825 (19,916) 1.772,909 TOTAL FUNDS 1,792,825 (19,916) 1,772,909 Comparative net movement in fi]nds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 201,291 (221,207) (19,916) TOTAL FUINDS 201,291 (221,207) (19,916) continued.-.
Ballymote Community Project Limited Notes to the Financial Statements - continued for the Year Ended 31 March 2025 io. RELATED PARTY DISCLOSURES There were no related paty transactions for the year ended 31 March 2025. 12