**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
_______|