REGISTERED COMPANY NUMBER: N1601796 (Northern Ireland) REGISTERED CHARITY NUMBER: 101635 Re ort of the Trustees and Unaudited Financial Statements for the Year Ended 31 Janua 2024 for Tir an Communit Association W MCGSLLIAN & CO LTD Unit A2, Workspace 5-7 Tobermore Road Draperstown Derry BT45 7AG
Tir an Communit Association Contents of the Financial Statements for the Year Ended 31 Januar 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financial Activities Statement of Financial Position Notes to the Financial Statements 9 to 16 Detailed Statement of Financial Activities 17 to 18
Tir an Communit Association Re ort of the Trustees for the Year Ended 31 Janua 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 January 2024. The trustees have adopted the provisions of 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 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims Tirgan Community Assoc provide a wide range of services for the rural inhabitants of Tirgan and the surrounding area, to improve the quality of life and increase the skills and activity of all age groups whilst adhering to Section 75 of the Northern Act 1998. Public benefit The Association owns and manages a community hall based in Tirgan. The newly built hall offers the rural area of Tirgan and district a fantastic amenity site to help the local community develop, engage and encourage citizenship across a wide range of activities and recreational functions. The broad range of activities such as Youth Club, Arts & Crafts, Hill walks, Health & Safety Courses,Tea & Dances, Keep fit, Hall hire etc help to educate and promote interaction amongst the community, across all religious and social backgrounds. Tirgan Community has recently been awarded The William Keown Trust in recognition of the contribution to an accessible, user friendly environment and our honorary Chairperson has also been recently awarded for their contribution to the local community. This year we increased our hall lettings, we held additional fundraising nights such as the Abba Tribute Night and undertook our annual hill walk and the big breakfast fundraiser. All were we51 attended and helped to raise much needed funds.. There continues to be no private gain to any individual member. In setting our objectives and planning our activities for the year the trustees have given careful consideration to the Charity Commission for Northern Ireland's guidance on public benefit to ensure that the activities have helped to achieve the charity's purposes and provide a benefit to the beneficiaries. FINANCIAL REVIEW Financial position Nett deficit for the year was £3,738. (Nett surplus £655 31101123). Total funds at the year end were £180,559. (£184,297 31.1,23). Performance model used to account for grants. A management charge to our connected social club (Tirgan Recreational & Social Club) and interest on loans provided to them are shown as other income on the SOFA. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. Page 1
Tir an Communit Association Re ort of the Trustees for the Year Ended 31 Januar 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Organisational structure The management committee of Tirgan Community Association administers the charity. Monthly meetings are held to discuss ongoing projects, finances and other issues. Risk management The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. This is maintained by the committee with a formal risk strategy, with potential risks and threats considered at the monthly meeting. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number N1601796 (Northern Ireland) Registered Charity number 101635 Registered off ice 36 Tirgan Road Moneymore Magherafelt Co. Derry BT45 7RX Trustees E McGovern (resigned 1.3.24) P McGovern H l O, Neill P O, Neill Company Secretary Independent Examlner W McGillian W MCGILLIAN & CO LTD Unit A2, Workspace 5-7 Tobermore Road Draperstown Derry BT45 7AG Solicitors O, Kane Boyle 51 St. Patricks Street Draperstown Co.Derry BT45 7AJ Page 2
Tir an Communit Association ort of the Trustees for the Year Ended 31 Januar 2024 REFERENCE AND ADMINISTRATIVE DETAILS Bankers Bank of Ireland 21 St. Patricks Street Draperstown Magherafelt Approved by order of the board of trustees on behalf and signed on its McGovern - Tru tee Page 3
Inde endent Examiner's Re ort to the Trustees of Tir an Communit Association I report on the accounts of the company for the year ended 31 January 2024, which are set out on pages six to sixteen. 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 6519)(b) of the Charities Act state whether particular matters have come to my attention. Basls of the independent examiner's report I have examined your charity accounts as required under Section 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 prosented with those records. It also included consideration of any unusual 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 information needed for a proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. // W McGillian The Institute of Financial Accountants W MCGILLIAN & CO LTD Unit A2, Workspace 5-7 Tobermore Road Draperstown Derry BT45 7AG Page 4
Inde endent Examiner's Re ort to the Trustees of Tir an Communit Association Date.. Page 5
Tir an Communit Association Statement of Financial Activities for the Year Ended 31 Januar 2024 31.1.24 Total funds 31.1.23 Total funds Unrestricted Restricted funds funds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 5,412 5.412 1,111 Charitable activities Charitable Activities 7,321 965 8,286 14,652 Other income 1,063 1,063 1,041 Total 13,796 965 14,761 16,804 EXPENDITURE ON Charitable activities Charitable Activities 17,534 965 18,499 16,149 NET INCOMEI(EXPENDITURE) (3.738) (3,738) 655 RECONCILIATION OF FUNDS Total funds brought forward 183,397 900 184,297 183,642 TOTAL FUNDS CARRIED FORWARD 179,659 900 180,559 184,297 The notes form part of these financial statements Page 6
Tir an Communit Association Statement of Financial Position 31 Janua 2024 31.1.24 31.1.23 Notes FIXED ASSETS Tangible assets 190,822 193,344 CURRENT ASSETS Debtors Cash at bank and in hand 10 20,305 129 10,706 20,434 10,709 CREDITORS Amounts falling due within one year (30,697) {19,755) NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES 180,559 184,297 CREDITORS Amounts falling due after more than one year 12 NET ASSETS 180,559 184,297 FUNDS Unrestricted funds Restricted funds 15 179,659 900 183,397 900 TOTAL FUNDS 180,559 184,297 The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024. The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for (a) Complying with the requirements of the Act with respect to accounting records and the preparation of accounts The notes form part of these financial statements Page 7 continued...
Tir an Communit Association Statement of Financial Position - continued 31 Janua 2024 These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The fi ancial statements were approved by the Board of Trustees and authorised for issue on rrt .QLLGAS..r..2..Lk.' and were signed on its behalf by: McGovern - Trust The notes form part of these financial statements Page 8
Tir an Communit Association Notes to the Financial Statements for the Year Ended 31 Janua 2024 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 1 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. Income 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 measured reliably. Expenditure Liabilities are recognised 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 directly attributed to particular headings they have been allocated to activities on a basis consistent 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 useful 5ife. Freehold property Plant and machinery Fixtures and fittings 40/0 on cost 200/0 on reducing balance 20 % on 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 funds 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. Page 9 continued...
Tir an Communit Association Notes to the Financial Statements - continued for the Year Ended 31 Januar 2024 DONATIONS AND LEGACIES 31.1.24 31.1.23 Donations 1,111 INCOME FROM CHARITABLE ACTIVITIES 31.1.24 31.1.23 Activity Charitable Activities Charitable Activities Charitable Activities Charitable Activities Charitable Activities Door Fee Fundraising events Grants Catering Hall hire 2,854 3,468 965 178 821 1,777 1,718 9,044 2,113 8,286 Grants received, included in the above, are as follows: 31.1.24 31.1.23 Mid Ulster Council CWSAN Community Fund 365 500 2,600 6,444 865 9,044 CHARITABLE ACTIVITIES COSTS Support costs (see note 5) Charitable Activities 18.499 Page 10 ontinued...
Tir an Communit Association Notes to the Financial Statements - continued for the Year Ended 31 Januar 2024 SUPPORT COSTS Governance costs Charitable Activities 18,499 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingl(crediting): 31.1.24 31.1.23 Depreciation owned assets 5.441 5,584 TRUSTEES. REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 January 2024 nor for the year ended 31 January 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31 January 2024 nor for the year ended 31 January 2023. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted funds funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 1,111 1,111 Charitable activities Charitable Activities 5,608 9,044 14.652 Other income 1,041 1,041 Total 7,760 9,044 16,804 EXPENDITURE ON Charitable activlties Charitable Activities 13.549 2,600 16,149 NET INCOMEI{EXPENDITURE) Transfers between funds (5,789) 6,444 6,444 655 Net movement In funds 655 655 RECONCILIATION OF FUNDS Total funds brought forward 182,742 900 183,642 Page11 continued.
Tir an Communit Association Notes to the Financial Statements - continued for the Year Ended 31 Januar 2024 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued Unrestricted Restricted Total funds funds funds TOTAL FUNDS CARRIED FORWARD 183,397 900 184,297 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Plant and machinery Computer equipment Totals COST At 1 February 2023 Additions 238,056 9,541 2,919 2,738 1,667 252,002 2,919 At 31 January 2024 238,056 12,460 2,738 1,667 254,921 DEPRECIATION At 1 February 2023 Charge for year 48,474 4,761 7,493 410 2,238 100 453 170 58,658 5,441 At 31 January 2024 53,235 7,903 2,338 623 64,099 NET BOOK VALUE At 31 January 2024 184,821 4,557 400 1,044 190.822 At 31 January 2023 189,582 2,048 500 1.214 193 344 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.24 31.1.23 Trade debtors Other Debtors Inter-company Tirgan club VAT 7.160 3,416 9,729 1,440 9,266 20,305 10,706 Page 12 continued.
Tir an Communit Association Notes to the Financial Statements - continued for the Year Ended 31 Januar 2024 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.1.24 31.1.23 Bank loans and overdrafts (see note 13) Other loans (see note 13) Trade creditors Other Creditors VAT Accrued expenses 11,972 8,000 593 6,832 395 2,905 7,749 8,000 592 982 1,129 2,433 30,697 19,755 12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR 31.1.24 31.1.23 Other loans (see note 13) 13. LOANS An analysis of the maturity of loans is given below: 31.1.24 31.1.23 Amounts falling due within one year on demand: Bank overdrafts Other loans 11,972 8,000 7,749 8,000 19,972 15,749 Amounts falling beeen one and two years: Other Soans - 1-2 years 14. ANALYSIS OF NET ASSETS BETWEEN FUNDS 31.1.24 Total funds 31.1.23 Total funds Unrestricted Restricted funds funds Fixed assets Current assets Current liabilities Long term liabilities 195,827 2,263 (18,431) (5,005) 26,054 (20,149) 190,822 28,317 (38,580) 193,344 10,709 (19,755) 179,659 900 180,559 184,297 Page 13 continued...
Tir an Communit Association Notes to the Financial Statements - continued for the Year Ended 31 Januar 2024 15. MOVEMENT IN FUNDS Net movement in funds At 31.1.24 At 1.2.23 Unrestricted funds General fund Revenue Grant 176,880 6,517 (3.738) 173,142 6,517 183,397 (3,738) 179,659 Restricted funds Revenue Grant Capital Grant 2,277 2,277 1,377) goo 900 TOTAL FUNDS 184,297 180,559 Net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fund 13,796 (17,534) (3,738) Restricted funds Revenue Grant 965 (965) TOTAL FUNDS 14,761 18,499) Page 14 continued...
Tir an Communit Association Notes to the Financial Statements - continued for the Year Ended 31 Janua 2024 15. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds Transfers between funds At 31.1.23 At 1.2.22 Unrestricted funds General fund Revenue Grant 176,225 6,517 (5,789) 6,444 176,880 6,517 182,742 (5,789) 6,444 183,397 Restricted funds Revenue Grant Capital Grant 2,277 1,377) 2,277 1,377) 6,444 900 6,444 900 TOTAL FUNDS 183,642 655 184,297 Comparative net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fLJnd 7,760 (13,549) (5,789) Restricted funds Revenue Grant Capital Grant 2,600 6,444 (2,600) 6,444 9,044 6,444 TOTAL FUNDS 16,804 16,149) 655 Page 15 continued.
Tir an Communi Association Notes to the Financial Statements - continued for the Year Ended 31 Januar 2024 16. RELATED PARTY DISCLOSURES Trustee, Mr Paul McGovern is owed £8,000 at 311112024. This was from an interest free loan he provided to the Charity year's prior. Page 16
Tir an Communit Association Detailed Statement of Financial Activities for the Year Ended 31 Janua 2024 31.1.24 31.1.23 INCOME AND ENDOWMENTS Donations and legacies Donations 5,412 Charitable activities Door Fee Fundraising events Grants Catering Hall hire 2,854 3,468 965 178 821 1,777 1,718 9,044 2,113 8,286 14,652 Other Income Management charge Interest receivable on loans 600 463 600 441 1,063 1,041 Total incoming resources 14,761 16,804 EXPENDITURE Charltable actlvlties Food & Drink 45 Support costs Governance costs Insurance Light and heat Telephone Accountancy fees Repairs & Maintenance Fire I Security Protection Bank charges Advertising Charitable Donation Water Rates Loan Interest Sundry Cleaning & consumables Carried forward 1,757 2,838 310 2,058 1,324 587 540 18 1,000 237 738 15 128 11,550 1,825 3,826 150 632 1,115 534 612 70 224 210 24 94 9,316 This page does not form part of the statutory financial statements Page 17
Tir an Communi Association Detailed Statement of Financial Activities for the Year Ended 31 Januar 2024 31.1.24 31.1.23 Governance costs Brought forward Licences Vat Annual Adjustment Printing, postage & stationery Food Event costs Computer costs Freehold property Plant and machinery Fixtures and fittings Computer equipment 11,550 409 (59) 30 353 500 275 4,761 410 100 170 9,316 159 45 1,000 4,761 493 125 205 18,499 16,104 Total resources expended 18,499 16,149 Net (expenditure)lincome 3,738) 655 This page does not form part of the statutory financial statements Page 18