Registration number NI611575 Charity number NIC101542
AGHAGALLON COMMUNITY CENTRE Company limited by guarantee
DIRECTORS' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
AGHAGALLON COMMUNITY CENTRE
Company limited by guarantee
| Company information | |
|---|---|
| Directors | Brendan Gorman |
| Gerald Lavery | |
| Daniel McCool | |
| James Joseph Nelson | |
| Denis O'Rourke | |
| Julie McCool | |
| Sheena Devlin | |
| Company number | NI611575 |
| Registered office | 2 Gooseberry Corner Road |
| Gawleys Gate | |
| Craigavon | |
| BT67 0BS | |
| Accountants | Alison Mitchell |
| 16 Colane Meadows | |
| Aghagallon | |
| Co. Armagh | |
| BT67 9DJ | |
| Business address | 2 Gooseberry Corner Road |
| Gawleys Gate | |
| Craigavon | |
| Co. Armagh | |
| BT67 0BS | |
| Bankers | Danske Bank |
| 39 Market Street | |
| Lurgan | |
| Co. Armagh | |
| BT66 6AB | |
| Solicitors | Campbell & Haughey |
AGHAGALLON COMMUNITY CENTRE
Company limited by guarantee 85 William Street Lurgan BT66 6JB
AGHAGALLON COMMUNITY CENTRE
Company limited by guarantee
Contents
| Page | |
|---|---|
| Directors' report | 1 |
| Accountants' report | 2 |
| Profit and loss account | 3 |
| Balance sheet | 4 - 5 |
| Notes to the financial statements | 6 - 8 |
Aghagallon Community Centre Company limited by guarantee
Directors' report for the year ended 31 March 2023
The directors present their report and the financial statements for the year ended 31 March 2023.
Principal activity
The principal activity of the company is to provide, maintain and manage a community centre in the area.
Directors
The directors who served during the year are as stated below:
Brendan Gorman Denis O'Rourke Gerald Lavery Julie McCool Daniel McCool Sheena Devlin (appointed 21/06/18) James Joseph Nelson
This report is prepared in accordance with the Companies Act 2006.
This report was approved by the Board on 10 July 2023 and signed on its behalf by
Gerald Lavery Director
Daniel McCool Director
Page 1
AGHAGALLON COMMUNITY CENTRE
Company limited by guarantee
Accountants' report on the unaudited financial statements to the directors of Aghagallon Community Centre
As described on the balance sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2023 set out on pages 3 to 8 and you consider that the company is exempt from an audit. In accordance with your instructions we have compiled these unaudited financial statements, in order to assist you to fulfil your statutory responsibilities, from the accounting records and information supplied to us.
Alison Mitchell Chartered Accountant 16 Colane Meadows Aghagallon Co. Armagh BT67 9DJ
Date:
Page 2
AGHAGALLON COMMUNITY CENTRE
Company limited by guarantee
Profit and loss account for the year ended 31 March 2023
| Notes Administrative expenses Other operating income Operating profit 2 Other interest receivable and similar income Profit on ordinary activities before taxation Tax on profit on ordinary activities Profit for the year 6 Retained profit brought forward Retained profit carried forward |
Continuing operations 2023 2022 £ £ (21,912) (13,952) 40,643 31,233 _ _ 18,731 17,281 - 19 _ _ 18,731 17,300 - - _ _ 18,731 17,300 186,189 168,889 _ _ 204,920 186,189 _ _ |
|---|---|
There are no recognised gains or losses other than the profit or loss for the above two financial years.
The notes on pages 6 to 8 form an integral part of these financial statements.
Page 3
AGHAGALLON COMMUNITY CENTRE
Company limited by guarantee
Balance sheet
as at 31 March 2023
| Notes Fixed assets Tangible assets 3 Current assets Debtors 4 Cash at bank and in hand Creditors: amounts falling due within one year Net current assets Creditors: amounts falling due after more than one year Accruals and deferred income 5 Net assets Reserves Profit and loss account 6 Members' funds 7 |
2023 £ £ 625,107 2,557 42,121 _ 44,678 (1,276) _ 43,402 _ - (463,589) _ 204,920 _ 204,920 _ 204,920 _ |
2022 £ £ 622,357 - 38,708 _ 38,708 20 _ 38,728 _ - (474,896) _ 186,189 _ 186,189 _ 186,189 _ |
|---|---|---|
The directors' statements required by Article 257B(4) are shown on the following page which forms part of this Balance Sheet.
The notes on pages 6 to 8 form an integral part of these financial statements.
Page 4
AGHAGALLON COMMUNITY CENTRE
Company limited by guarantee
Balance sheet (continued)
Directors' statements required by Article 257B(4)
for the year ended 31 March 2023
For the financial year ended 31 March 2022 the company was entitled to exemption under Article 257A(1) of the Companies (Northern Ireland) Order 1986.
No members have required the company to obtain an audit of its accounts for the year in question in accordance with Article 257B(2).
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and for the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
The financial statements were approved by the Board on 10 July 2023 and signed on its behalf by
Gerald Lavery Director
Daniel McCool Director
Registration number NI611575
The notes on pages 6 to 8 form an integral part of these financial statements.
Page 5
Aghagallon Community Centre Company limited by guarantee
Notes to the financial statements
for the year ended 31 March 2023
1. Accounting policies
1.1. Accounting convention
The financial statements are prepared under the historical cost convention and comply with financial reporting standards of the Accounting Standards Board.
1.2. Tangible fixed assets and depreciation
Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
Land and buildings - Straight line over years Plant and machinery - Fixtures, fittings and equipment - 25% straight line
1.3. Leasing
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
1.4. Government grants
Grants are credited to deferred revenue. Grants towards capital expenditure are released to the profit and loss account over the expected useful life of the assets. Grants towards revenue expenditure are released to the profit and loss account as the related expenditure is incurred.
2.
| Operating profit Operating profit is stated after charging: and after crediting: Government grants |
2023 £ _ 11,307 _ |
2022 £ _ 11,307 _ |
|---|---|---|
Page 6
Aghagallon Community Centre Company limited by guarantee
Notes to the financial statements for the year ended 31 March 2023
| .................... continued | .................... continued | |||||
|---|---|---|---|---|---|---|
| Land and | Fixtures, | |||||
| 3. | Tangible fixed assets | buildings | Plant | and | fittings and | |
| freehold | machinery | equipment | Total | |||
| £ | £ | £ | £ | |||
| Cost | ||||||
| At 1 April 2022 | 602,434 | 7,491 | 12,431 |
622,356 | ||
| Additions | - | 2,585 | 166 |
2,751 | ||
| _ | _ |
_ | _ | |||
| At 31 March 2023 | 602,434 | 10,076 |
12,597 |
625,107 | ||
| _ | _ |
_ | _ | |||
| Net book values | ||||||
| At 31 March 2023 | 602,434 | 10,076 |
12,597 |
625,107 | ||
| _ | _ |
_ | _ | |||
| At 31 March 2022 | 602,434 | 7,491 | 12,431 |
622,357 | ||
| _ | _ |
_ | _ | |||
| 4. | Debtors | 2023 | 2022 | |||
| £ | £ | |||||
| Other debtors | 2,557 | - | ||||
| _ | _ | |||||
| 5. | Accruals and deferred income | 2023 | 2022 | |||
| £ | £ | |||||
| Government grants | ||||||
| At 1 April 2022 | 474,896 | 474,896 | ||||
| Released in year | (11,307) | - | ||||
| _ | _ | |||||
| At 31 March 2023 | 463,589 _ |
474,896 _ |
Page 7
Aghagallon Community Centre Company limited by guarantee
Notes to the financial statements for the year ended 31 March 2023
.................... continued
| ......... continued | ||
|---|---|---|
| Profit | ||
| Equity Reserves | and loss | |
| account | Total | |
| £ | £ | |
| At 1 April 2022 | 186,189 | 186,189 |
| Profit for the year | 18,731 | 18,731 |
| _ | _ | |
| At 31 March 2023 | 204,920 | 204,920 |
| _ | _ | |
| Reconciliation of movements in shareholders' funds | 2023 | 2022 |
| £ | £ | |
| Profit for the year | 18,731 | 17,300 |
| Opening shareholders' funds | 186,189 | 168,889 |
| _ | _ | |
| Closing shareholders' funds | 204,920 _ |
186,189 _ |
6. Equity Reserves
7.
8. Financial commitments
9. Company limited by guarantee
At 31 March 2023 there were 7 members of the company, the liability of the members is limited and each has undertaken to contribute a sum not exceeding £1 in the event of the winding up of the company.
Page 8
Aghagallon Community Centre Company limited by guarantee
Notes to the financial statements for the year ended 31 March 2023
.................... continued
10. Gross cash flows
| Returns on investments and servicing of finance Interest received Capital expenditure Payments to acquire tangible assets 11. Analysis of changes in net funds Opening balance £ Cash at bank and in hand 38,708 _ Net funds 38,708 _ |
2023 2022 £ £ - 19 _ _ (2,751) (1,619) _ _ Cash Closing flows balance £ £ 3,413 42,121 _ _ 3,413 42,121 _ _ |
|---|---|
Page 9
AGHAGALLON COMMUNITY CENTRE
Company limited by guarantee
The following pages do not form part of the statutory accounts.
Aghagallon Community Centre Company limited by guarantee
Detailed trading profit and loss account and expenses schedule for the year ended 31 March 2023
| Administrative expenses Wages and salaries Insurance Light and heat Repairs, cleaning and maintenance Art expenses Printing, postage and stationery Telephone Heritage trip Resources for toddler group Legal and professional Bank charges Canteen supplies General expenses Other operating income Rent receivable Government grants received Grants received Armagh, Banbridge & Craigavon B C Operating profit Other income and expenses Interest receivable Bank deposit interest Net profit for the year |
2023 £ 2,055 1,166 10,748 2,592 286 684 1,790 829 209 1,072 67 226 188 _ 20,421 11,307 5,509 3,406 _ -% - _ |
£ 21,912 _ 40,643 _ 18,731 - _ 18,731 _ |
2022 £ 325 1,132 5,412 3,772 - 410 1,384 - - 306 42 - 1,169 _ 14,202 11,307 764 4,960 _ -% 19 _ |
£ 13,952 _ |
|---|---|---|---|---|
| 31,233 _ |
||||
| 17,281 19 _ |
||||
| 17,300 _ |