REGISTERED COMPANY NUMBER: N1038230 (Northern Ireland) REGISTERED CHARITY NUMBER: N1101836 REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 FOR OMAGH YOUTH & COMMUMTY TRUST McAleer Jackson Ltd Chartered Accountants Church House 24 Dublin Road OMAGH Co. Tyrone BT78 IHE
OMAGH YOUTH & COMMUNITY TRUST COWfENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Page Report of the Truste I to 3 Independent Eximiner's Report Statement of Financial Activities Balanee Sheet Iyotes to the FinADCig1 Statements 8 to l5 Detailed Statement of Financi81 Activities 16
OMAGH YOUTH & coMIuN1Ty TRUST REPORT OF THE TRLSTEES FOR THE YEAJi ENDED 31 MARCH 2025 Th¢ trustces who are also directors of the charity for the purposes of the Companies Act 2006, pr¢sent tl)eir report with the financial statements of the charity for the year ended 31 March 2025. The trustees hai'e adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice apDIic8ble tp charities preparing their accounts in accordance with the Financial Reporting Standard applicable in tne UK and Republi¢ of Ireland (FRS 102) (effective l January 2019)- OBJECTIVES AND ACTIVITIES Principal Activity Omagli Youth & Community Trnst was established in 2000 to Cordinate the construction of The Station Centre for th¢ purpose of providing modern facilities for the entire constituency of the youth and community of Omagh. The ethos of Omagh Youth and Community Trust is one of promoting inclusiveness, to offer a new, b¢ginning for. young people, to set aside denominational labels and look at their own humanity which accepts and understands the others point of view. A full sunimary of the activities of the charity available from tlie trustees at th¢ registered office. The Station Centre will be a beacon of hope to everyone in the community, a sanctuary wh¢re opportunities through programme planning will be provided for social, educational and recreational enrichment. Omagh Youth and Community Trust is registered as a charity with HMRC and the Charity Commission for Northern Ireland under registration number XR 24304 and NI l 01836 respectively. The Company is limited by guarantee not having a share capital. FINANCIAL REVIEW Financial position The charitys main source of income is pmiseS hire. The amount received in the year from thi5 and other sources was £91,499 (2024: 93,961). Total expenditure of £93,381 (2024: 93,567) was spent during the year, resulting in iiet ¢xpendAture of £1,882 (2024. net income £394)- Re5erYes policy Omagh Yoiith & Community Trust has a reserves policy designed to recognise th¢ requirements for reserves in light of the main risks to the organisation. It has established a policy whereby the optimum holding of unr¢stricted funds not committed should ¢quate to six months total running costs, plus a Contingent liability sum of £30,000 towards emergency expenditure on its premis¢s. STRUCTURE, GOVERNANCE AIYD MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and its Articles of Association. REFERENCE AND ADMINISTRATIVE DETAtLS Registered Company number N1038230 (Northern Ireland) Registered Charity number N1101836 Page I
OMAGH YOUTH & COMMUNITY TRUST REPORT OF THE TRUSTEES FOR THE YEAR EN'DED 31 MARCH 2025 Registered office The Station Centre 17 James Street Omagh Co. Tyrone BT78 1 QX Truste&s R 'l'ierney J Byrne Mrs E Charl¢ton Mrs G Keys W Reilly Rev E Has50n Company Secretary P Mcmahon Independent Examiner Michael Barnett McAleer Jackson Ltd Chartered AOuntants Church House 24 Dublin Road OMAGH Co. Tyrone BT78 IHE STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Omagh Youth & Community Trust for the purposes of company law) ar¢ responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Gen¢rally Acc¢pted tlccountiAg Practice), Company law requires the truste¢s to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of th¢ incoming resources and application of resources, including the incom¢ and expenditure, of the charitable company for that peri(yJ. In pparing those financial statem¢nts, the trustees ar¢ required to select suitable accounting policies and then apply them consistently. 'observe the methods and principles in the Charity SORP. make judgements and estimates that are reasonable and prudent. prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitablc company will continue in business. Page 2
OMAGH YOUTH & COVIMUNITY TRU REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STATEMENT OF TRUSTEES, RESPONSIBILITIES - continued The trustees are responsible for keeping proper accounting reco15 which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding ihe assets of the charitabl¢ company and hence for tsking reasonable steps for the prevention and deleclion of fraud and other irregularitjes. Approved by order of the board of trustees on .. . 17 . and signed on its trKhalf by: R Tiemey - Trustee Page 3
INDEPENDEYT EXAMINER'S REPORT TO THE TRUSTEES OF OMAGH YOL.'TH & COhlMUNITY TRUST Independent examiner's report to the trusttts of Omggh Youth & Community Trust ('the Company,) I IEPOrt to the charity trustees on my examinaiion of the accounts of the Company for the year ended J l March 2025. Re5pon$ibilities and basis of report As the charity's trustees of the Company (and also its di101$ for the purwses of company law) you are i'esponsible for the preparntion of the accounts in accordance wilh the requirements of the Companies Act 2006 ('the 2006 Act'}. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for indepxndenl examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charilies Act 2011 ('the 2011 Act.), In carrying out my examination I have followed the Directions given by the Charity Commi&gion under Section 145(5) (b) of the 2011 Act. Independent examiner's statement I have completed my examination. I confimi that no matters have come lo rny attention in connection wilh the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act. or the accounts do not accord with those records. or the accounts do not comply wilh the accounting requirements of Section 396 of the 2006 Acl 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. or the accounts have not been prepared in ac£onlance with the methods and principles of the Statement of Recommended Prdctice for accounting and reporting by chartties (applicable to charities preparing their accounts in accordance with th¢ Financial Rep)rting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come acro&s no oiher matters in wnnection with the examination to which attention should be drawn in this rerA)rt in order to enabl¢ a pyoper understsnding of the accounts to be reached. JJJ¢K Michael Barnett McAleer Jackson Ltd Chartered Accountants Chui'ch House 24 Dublin Road OMAGH Co. Tyrone BT78 IHE Date., Page 4
OMAGH YOUTH & COMMUNITY TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted fund Restrict funds Notes IP4COME AND EIYDOWMENTS FROM Donations and legacies 23201 23,201 21,069 Other tradin£ activities Investment income Other incotne 34,661 511 34,661 511 33,126 39,355 411 33,126 33,126 Total 58J73 33,126 91,499 93,961 EXPENDITURE ON Charitable activities Governance Costs Charitable Activities Trading Activities 2,158 58,097 2,158 91223 1,855 90,803 909 33,126 Tot21 60355 93J81 93,567 NET INCOMEI(EXPENDrruRE) (1082) (1,882) 394 RECONCIJ.IATION OF FUNDS Total funds brought forward 107J53 107,553 107,159 TOTAL FUNDS CARRIED FORWèKRD 105,671 105,671 107,553 The notes forni part of these financial statcments Page 5
OMI AGH YOUTH & COMTrtUNITY TRUST BALANCE SHEET 31 IWiCH 2025 2025 Total funds 2024 Total funds Unrestricted Restricted fund funds Notes FIXED ASSETS I"angible assets 93,034 899,757 992,791 1 ,029,196 CURRENT ASSETS Debtors Cash at bank 8,248 56,073 64,964 64,964 64,964 64,321. CREDITORS Amoiints fa!.. ing due within one year 10 (2a27) (2a27) (3,081) NET CURRENT ASSETS 62.637 62,637 61,240 TOTAL A.SSETS LESS CURRENT LIABILITIES 155,671 899,757 1,055,428 1.090,436 CREDITORS Amounts falling due after more than one year I I (50,000) (so,000) (50,000) ACCRUALS AND DEFERRED tNCOME J3 (899,757) (899,757) (932,883) NET ASSETS 105 671 105,671 107 553 FUNDS Unrestricted funds 14 105,671 107 553 TOTAL FUNDS 105 671 107 553 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 th¢ year ended 3 L March 2025 in accordance with Section 476 of the Companies Act 2006. The notes form part of these financial statements Page 6 continued...
OMAGH YOUTH & cOmUNITy TRUST BALANCE SHEET - continued 31 MtlRCH 2025 The trustees acknowledge their responsibilities for (a) ¢nsuring that the charitabl¢ company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and (b). preparing financial statem¢nts which give a true and fair view of the state of affairs of the "haritable coinpany as at the end of each financial 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 requirements of the Companies Act 2006 r¢lating to financial statements. so far as applicable to the charitabl¢ company. These financial statements have been prepared in accordance with the provisions applicable to ¢haritabl¢ companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on . and were signed on its behalf by.. R Tiern¢y - Trustee J Byme - Trustee Th¢ notes forni part of these financial statements Page 7
OMAGH YOUTH & COMTrtUNITY TRUST NOTES TO THE FfNAI%CIAL STATEMENTS FOR THE YEAR ElsED 31 MARCII 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 bj, Charities.. Stateinent 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) (-ffective I January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and th¢ Companics Act 2006. The financial statements have been prepared uiider the historical cost convention. Income All income is recognised in the Statement of FinancÈal Activities once the charTty has entitleinent to the funds. it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditur¢ 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 hav¢ been allocated to activities on a basis consistent with the use of resources. Tangible fixed ets Depreciation is provided at the followlng annual rates in order to write off each asset over its estimated usefiil life. Freehold property Fixtures and fittings 2% strdight line 200/0 Straight line Trdxation 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 fijnds can only be used for particular restricted purpos¢s within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted piirposes. Further explanation of the nature and purpose of each fund is included in th¢ notes to the financial statements. Debtors and creditors receiv&bleJpayable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from imp8irnient are recognis¢d in the profit and loss account in other administrative expenses. Page 8 Cf)ntinued.
OMAGH YOUTH & COMMUNITY TRUST NOTES TO THE ANCIAL STATF.MENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - continued CJovernment grants Capital grants received and receivable are treated as defeffed income and amortised to the Profit and Loss Account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Profit and Loss Account when received. OTHER TRADTNG ACTIVITIES 2025 2024 Facility hlre 34,661 39,355 INVF.STMENT tNCOME 2025 2024 Deposit account interest 511 411 NET INCOMEI(EXPENDITURE) Net incomel(expenditure) is stated after chargingJ(crediting): 2025 2024 Depreciation - owncd a&sets 39,045 38,592 TRUSTEES, REMUNERATION AND BENEFITS No remuneration or other benefits were paid to the trustees for the year ended 31 March 2025 nor for th¢ year ended 31 March 2024. Trustees, expenses No expenses were paid to the trustees for the year ended 31 March 2025 nor for the year ended 31 March 2024. Page 9 continued.-
OMAGH YOUTH & COMMUNITY TRUST NOTES TO THE FINANCIAL STATF.MENTS - continued FOR THE YEAR ENDED 31 NIARCH 2025 STAFF COSTS 2025 2024 Wages and salaries Otlier pension costs 12J76 15,677 326 12J76 16,003 The average monthly number of employees during th¢ year was as follows: 2025 2024 Staff No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted Restricted fund funds Total funds INCOME AND ENDOWMENTS FROM Donations and legacies 21,069 21,069 Other trading activities Investment income Oth(," income 39,355 411 39,355 411 33,126 33.126 Total 60,835 93,961 EXPENDITURE ON Charitable activities Governance Costs Charitable Activities Trading Activities 1,855 57,677 909 1,855 90,803 909 33,126 Totxl 60.441 33,J26 93,567 NET INCOME 394 394 RECONCILIATION OF FUNDS Total funds brought forward 107,159 107.159 Page 10 continued...
OMAGH YOUTH & COMMUNITY TRUST NOTES TO THE FLSANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 COMPARATIVES FOR THE STATEMENf OF FINANCIAL ACTIVITIES - continued Restricted funds Unrestricted fund Total funds TOTAL FUNDS CARRIED FORWARD 107,553 107 553 TANGIBLE FIXED ASSETS Fixtures and fittings Freehold property Totals cos'r At l April 2024 Additions 1,778,118 35,198 2,640 1,813J16 2,640 At 31 March 2025 1,778,118 37,838 1,815,956 DEPRECIATION At l April 2024 Charge for year 756,742 35,562 27,378 3.483 784,120 39,045 At 31 March 2025 792 J04 30.861 823,165 NET BOOK VALUE At 31 Marrh 2025 985,814 6,977 992,791 At 31 March 2024 1,021,376 1,029,196 DEBTORS: AMOUNfs FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Pag¢ll continued...
OMAGH YoifTH & COMNfuNrrY TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Accrued expenses 2,327 3,081 11. CREDITORS: AMOUNTS FALLING DUE AFfER MORE THAN O]YE YEAR 2025 2024 Other loans (see note 12) so,000 50,000 12.. LOANS An analysis of the maturity of loans is given below: 2025 2024 Amounts falling due in more than five y¢ars: Repayable otherwise than by instalments: More than five years 50,000 50,000 13. ACCRUALS AND DEFERRED tNCOME 2025 2024 D¢ferred government grants 899,757 932,883 14. MOVEMENT IN FUNDS Net movern¢nt in funds At 31.3.25 At 1.4.24 Unrestricted funds Gen¢ral fund 107,553 {1,882) 105,671 TOTAL FUNDS 107,553 1,882) 105,671 Page 12 continued...
OMAGH YOUTH & COMMUNITY TRUST NOTES TO THE FINANCIAL ST ATEME,Ts - continued FOR THE YEAR ENDED 31 MARCH 2025 14. MOVEMENT IN FUNDS - continued Net movement in funds, included in the above are as follows: Incoming resource5 Resources expended Movement in funds Unrestricted funds General fund 58J73 (60255) (1,882) Restricted fuDds Fixed Assets 33,126 (33,126) TOTAL FUNDS 91,499 93,381 1,882) Comparatives for movement in funds Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund 107,159 394 107,553 TOTAL FUNDS 107,159 394 107553 Comparative net movement in funds, Included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrieted funds General fund 60,835 (60,441) 394 Restricted funds Fixed Assets 33,126 (33,126) TOTAL FUNDS 394 Page 13 continued.
OMAGH YOUTH & COMMUNITY TRUST NOTES TO THE FINANCIAL STATEmE'Ts - continued FOR THE YEAR EINDED 31 MARCH 2025 14. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months Combined position is as follows: Net movement in funds At 31.3.25 At 1.4.23 Unrestricted funds Gencral nd 107.159 (1,488) 105,671 TOTAL FufqDS 107 159 105,671 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming resources Resources expended Movement in funds Unrestricted funds General fund 119.208 (120.696) (1,488) Restricted fuDds Fixed Assets 66.252 (66,252) TOTAL FUNDS 185,460 (186,948) 1,488) 15. CAPITAL COMMITMENTS The company had no matsrial capital commilments at the financial year ended 31 March 2025. Page 14 continued...
OMAGH YOUTH & COMMUNITY TRUST NOTES TO THE FINAVCIAL STA TEMENTS - continued FOR THE YEAR EIYDED 31 MARCH 2025 16. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2025. Page 15
OMAGH YOUTH & COMMUNITY TRUST DETAILED STATEMENT OF FINANCIAL ACTIvrriES FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 INCOME AND ENDOWMENTS DonatiODS and legacies Donations 23,201 21,069 Other trading attivities Facility hire 34.661 39,355 Investment income Deposit account interest 511 411 Other income Other income 33,126 33,126 Total incoming resources 91,499 93,961 EXPENDITURE Charitable activities Wages Pensions Rates and water Insuiance Light and heat 12J76 15,677 326 1,997 5,261 17,763 1,360 5251 17,497 L il Telephone Postage and Stationery Sundries Repairs and renewals Depreciation of tangible fixed assets Bank interest 1,447 1,670 lJ44 11,097 39,046 135 1,447 1,333 6,835 38,591 91,223 91,622 Support costs GovernAnee costs Accountancy and legal fees 1158 5,945 Total resources expended 93,381 93,567 Net (expendjtur¢)lincome (1,882) 394 This page does not forn) part of the statutory financial statements Page 16
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OMAGH OUTH & COMMUNITY TRUST Independent examiner's report to the trn$ttts of Omagh Youth & Community Trust ('the Company,) IEPOrt to the charity trustees on my examination of the aOunt$ of the Company for the year ended 31 March 2025. Responsibilities and bLS of report As the charitys trustees of ihe Company (and also its directots for the pur[eS of CoMpnY law) you are resN)nsible for the preparalion of the accounts in accorda¢ with ihc ro]uirements of the Companies Act 2006 ('the 2006 Ad.). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligtble for independent examination, I report in resi of my examination of your charity's accounts as carried out under Section 145 of the Charitie5 Act 2011 ('the 2011 Act.). In catrying out my examination I have followed the Directions given by the Charity Commission under Section 145{5) (b) of the 2011 A. Independent exgmlnerfs Statement I have completed my examination. I nfIrM that no matters have come to my attention in connection with the examination giving me cause lo believe.. accounting records were not kept in resr*ct of the Company as required by Seclion 386 of the 2006 Act" or the Ount$ do not acconl with those records. or the accounts do not comply with the accouniing reqU1ments of Section 396 of the 2006 Act other than any requirement that the accounts give a true arNI fair view which 15 not a matter ¢onsideJEd as part of an independent examination: or the accounts have not l%en prepared In accordance with the methLNJs and PrilPIeS of the Statement of Recommendcd Prnclice for accounting and rewrting by Charities (applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)). I have no concerns and have come across no other matters in connection wtih the examination to which attention should be drawn in this rep)rt in order to enable a wortr understsnding of the accounts to be E4Ched. JJJ• Michael Barnett McAleer Jackson Ltd Chartered Accountants Churth House 24 Dublin Road OMAGH Co. Tyrone BT78 IHE i > cA2v1r Page 4