COMPANY REGISTRATION NUMBER: N1041587 CHARITY REGISTRATION NUMBER: 101969 Sixmilecross Enterprise Limited Company Limited by Guarantee Financial Statements 31 March 2023 Sixmilecross Enterprise Limited Company Limited by Guarantee Financial Statements Year ended 31 March 2023 Page Trustees, annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements Sixmilecross Enterprise Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023. Reference and admlnlstratfve deta118 Reglstered charlty name Slxmilecross Enlerprise Limited Charlty reglstratlon number 101969 Company regl8tratlon number N1041587 Prlnclpal office and reglstered 32 Main Street offlce Slxmilecross Co Tyrone BT78 IBN The trustees Mr S Morrow Mr T Kelly Mr J Heaney Mrs M Caffrey Miss M Gomiley Mr J Donnelly Mr W Anderson Mr A Heaney Company Socretary Majella Gormley Independent examlner Nial Colhoun Unit B15 Omagh Enlerprise Centre Great Northern Road OMAGH Co TyTone BT78 SLU Sixmilecross Enterprise Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (conllnu•d) Year ended 31 March 2023 Structure, governance and management i) Goveming document Sixmllecross Enterprise Limited is a Company Limiled by guarantee. incorporated on 25th September 2001, and registered as a charity with the Charity Commission for Northem Ireland on 24th March 2016. The governing document of the charity is a Memorandum and Artj'cles of Association which sets out the objectives and powers of the charitsble company. li) Recrultment and appointment of management committee The dlrectors of the company are also the trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the management committee is electad on an annual basis. ii) Organisational structure Sixmilecross Enterprise Limited has a management committee of eight tnjstees. Iv) Flnanclal rlsk management The management committee take risk management seriously and have in place a series of procedures about how the organisation should be managed. Sixmilecross Enterprise Limited is largely dependent on Income generaled from renting out office space in the Enterprise C6ntre. The directors do not foresee any financial risks in the coming year. ObJectlve8 and actlvltles The objective of the Company is to promote for the public benefil of the Inhabitants of the Sixmilecross area of County Tyrone rural regeneration. I hey do this by the= creation of training and employment opportunlties through the provislon of work space, buildings andlor land for use on favourable terms. relief of unemployment. advancement of education, training or re-training, particularly among unemployed people. reliel of poverty. preservation and protection of health, the protects'on and conservation of the natural environment, the preservation of the archileclural and cultural herilage of the area of benefit. provision of assistance in the provision of recreational facilities for the public at large andlor those who, by reason of their youth. age. infirmity or disablement, poverty or social and economlc clrcumstsnces, have need of such facilities. Achlevements and perfomiance Durlng the year Slxmllecross Enterprise Llmited successfully let all residential apartments and commercial units. Expenditure was kept to a minimum with only necessary repairs and maintenance carrled out. Flnanclal revlew The company is a charitsble organisation. The results for the year are set out in the Ststement of Finanical Activities. Small Company provlslon8 Thls report has been prepared in accordance with the prowsions applicable to companies entitled to the small companies exemption. Sixmilecross Enterprise Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2023 The trustees, annual report was approved on 22 August 2023 and s￿ned on behalf of the board of truslees by. Miss M Gomiley Trustee Sixmilecross Enterprise Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Sixmilecross Enterprise Limited Year ended 31 March 2023 I report to the truslees on my examination of the financial statements of Sixmilecross Enterprlse Limited ('the charity) for the year ended 31 March 2023. Responslbllltles and basls of report As the trustees of the company (and also its directors for the purposes of company law) YDU are responsible for the preparation of the financial statements in accordance with the requirements of Charlties Act (Northem Ireland) 2008 (the '2008 Act'l and the Companies Act 2006 Ilhe 2006 Act,). You are satisfied that the accounls of Ihe company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audlted under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examinatlon of the charitys financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9){b) of the 2008 Act. Independent examlnerfs statement I have completed my examination. I confimi that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as requlred by section 386 of the 2006 Act; or the financlal statements do not accord wth those records,. or the financial statements do not comply with Ihe accounling requirements of section 396 of the 2006 Acl other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination.. or the financial statemenls have not been prepared in accordance wlth the methods and principles of the Statement of Recommended Practice for accounling and reporting by charities applicable to charities preparing their accounts In accordance with the Flnanclal Reportlng Standard applicable in the UK and Republic of Ireland (FRS 102). Sixmilecross Enterprise Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Sixmilecross Enterprise Llmited (contlnuedj Year ended 31 March 2023 I confimi that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. /yaL Nial Colhoun Independent Examiner Unlt B15 Omagh Enterprise Centre Great Northem Road OMAGH Co Tyrone BT78 SLU IOLS Sixmilecross Enterprise Limited Company Limited by Guarantee Statement of Financial Actlvities (includlng income and expenditure account) Year ended 31 March 2023 2023 Restricted funds Totsl funds Totsl funds 2022 Unrestricted funds Note Income and endowments Other trading aclivilies Investment income 25.099 25,099 21,784 91 Total Income 25,110 25.110 21,875 Expendlture Expenditure on charltsble activities Total expendlture 23,818 23,818 23,819 23,819 28,097 28,097 Net Incomel(expendlture) and net movement In funds 1,292 1,291 (6,222) Reconclllatlon ol funds Total funds broughl forward Total funds carrled forward 87.024 3,500 90,524 91,816 96,746 90,524 88,316 3,500 The statement of financlal actlvities includes all gains and losses recognlsed In the year. All Income and expenditure derive from continuing activities. The notss on pages 9 to 12 fomi part of these flnanclal Statements. Sixmilecross Enterprise Limited Company Limited by Guarantee Statement of Financial Position 31 March 2023 2023 2022 Noto Flxed assets Tangible fixed assets 713.353 733,319 Current assets Debtors Cash at bank and in hand 10 3,500 2,528 11,654 11,654 6.028 Credltors: amounts falllng due wlthln one year Net current assets 11 5,625 403 15,682 (4,028) 729,291 Total assets less current Ilabllltle¥ 713,756 Credltors: amounts falllng due after more than one year Net assets 12 621,941 638,767 90,524 91,815 Funds of the charlty Restricted funds Unrestricted funds 3.500 88,316 3,500 87,024 Total charlty funds 14 91,816 90,524 For the year ending 31 March 2023 the charity was entitled to exemption from audit under sectlon 477 of the Companles Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial ststements for the year In queslion In accordance with section 476: The directors acknowledge their responsibilities for complying with the requirements of the Act wlth respect to accounting records and the preparation of financial ststements. These financial statements have been prepared in accordance wilh the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 9 to 12 form part of these flnanclal stalom•nts. Sixmilecross Enterprise Limited Company Limited by Guarantee Statement of Financial Position (contlnued) 31 March 2023 These financial statements were approved by the board of trustees and authorised for issue on 22 August 2023, and are signed on behalf of the board by: In 411 4.-4 MrTKel Trustee Miss M Gormley Trustee The notes on pages 9 to 12 fonn part of theso financlal ststements. Sixmilecross Enterprise Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General Infomiatlon The charity Is a publlc benefit entity and a private company limited by guarantee, registered In Northem Ireland and a registered charity in Northem Ireland. The address of the registered office Is 32 Main Street, Sixmilecross, Co Tyrone, B T78 1 BN. Statement of compllance These financial statements have been prepared in compliance with FRS 102, The Financial Reporting Standard application in the UK & the Republic of Ireland,. the Statement of Recommended Practice applicable to charities preparing thelr accounts in accordance with the Financlal Reporting Slandard applicable in the UK an the Republic of Ireland (FRS 102> {Charities SORP IFRS 1021) and the relevant companies and charities law. Accountlng pollcles Basls of preparatlon The flnanclal statements have been prepared on the historical cost basls. Golng concem There are no material uncertainties aboul the charitys ability to continue. Judgements and key sources of estlmatlon uncertalnty The preparation of the financlal slatements requires management to make Judgements, estimates and assumptions thal affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events Ihal are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charltys purposes. Incomlng resources All Income is included In the Statement of Financial Activities vthen entitlement has passed to the charity, it is probable that the economlc benefils associated with the transaction will flow to the charity and the amounl can be reliably measured. The following specific policy is applied to rent received from premises: rental income is recognised upon delivery of the contracted service. This is dassified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and retumed if unspent. in vthich case it may be regarded as restricted. Sixmilecross Enterprise Limited Company Limited by Guarantee Notes to the Financial Statements (conllnuod) Year ended 31 March 2023 Accountlng pollcles (¢ondnued) Resources expended Expendtture is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT and is classified under the heading 'Expenditure on charitsble aclivities, in the Statement of Financial Activities. This indudes all costs incurred by Ihe charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the govemance of the charity apportioned to charitsble activities. Tanglble assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated dep￿ciation. Depreclatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows.. Freehold property Fixtures and fittings 20/0 straight line 200kn reducing balan Government grants Govemment grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assuran￿ that the company will comply with the conditions attaching to them and the grants will be received. Llmlted by guarantee Sixmilecross Enterprise Limited is a company limited by guarantee and accordingly does not have a share capilal. Other tradlng actlvltles Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Rental income 25.099 25.099 21,784 21,784 Investment Income Unrestricted Total Funds Unrestricted Totsl Funds Funds 2023 Funds 2022 8ank interest receivable 91 91 10 Sixmilecross Enterprise Limited Company Limited by Guarantee Notes to the Financial Statements {conllnu•d) Year ended 31 March 2023 Net Incomel(expendlture) Net incomel{expendlture) is ststed after chargingl(crediting): 2023 2022 Depreciation of tangible fixed assets 19.966 20,135 Trustee remuneratlon and expenses A trustee received £1.040 in remuneratlon In relation to the promsion of services.12022: £1,473) No other twstees have been paid any remuneration. Tanglble flxed assets Freehold Fixtures and propety fittings Total Cost At 1 Aprll 2022 and 31 March 2023 Depreclatlon At 1 April 2022 Charge for the year At 31 March 2023 964,396 32,610 997,006 234,465 19,288 29,222 678 263,687 19,966 253.753 29,900 283,653 Carrylng amount At 31 March 2023 710,643 2,710 713,353 At 31 March 2022 729,931 3.388 733,319 10. Debtors 2023 2022 Other debtors 3,500 11. Credltors: amounts falllng due wlthln one year 2023 2022 Bank loans and overdrafts Trade creditors Social security and other tsxes 10,390 5,044 248 4,788 837 5,625 15,682 11 Sixmilecross Enterprise Limited Company Limlted by Guarantee Notes to the Flnancial Statements (conllnuedj Year ended 31 March 2023 12. Credltors: amounts falllng due after more than one year 2023 2022 Accruals and deferred income 621.941 638,767 13. Deferred governmont grants 2023 2022 At 1 April 2022 Amount released to income 638.767 116,826) 621.941 655,654 {16,887) 638,767 Al 31 March 2023 14. Analy•ls of charltable lunds Unrestrlcted funds At 31 March 202 At 1 April 2022 Income Expendlture General funds 87,024 25,110 {23.818) 88,316 At 31 March 202 At 1 April 2021 Income Expendlture General funds 93,246 21,875 (28,097) 87,024 Restrlcted funds At 31 March 202 At 1 April 2022 Income Expenditure Restricted Fund 3,500 3,500 At 31 March 202 At 1 April 2021 Iprome Exp8ndlture Restricted Fund 3.500 3,500 15. Restrlcted funds Restricted funds raised for Ihe choir totslling £3.500 will be held on account and used for the good of the village once a suitable project becomes available. 12