COMPANY REGISTRATION NUMBER: N1041587 CHARITY REGISTRATION NUMBER: 101969 Sixmilecross Enterprise Limited Company Limited by Guarantee Financial Statements 31 March 2024
Sixmilecross Enterprise Limited Company Limited by Guarantse Financial Statements Year ended 31 March 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's 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 2024 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 2024. Reference and administrative detai18 Reglstered charity name Sixmilecross Enterprise Limited Charlty registration number 101969 Company reglstratlon number N1041587 Prfnclpal offico and regi8tered 32 Main Street office Sixmilecross Co Tyrone BT78 1 BN The trustees Mr S Morrow Mr T Kelly Mr J Heaney Mrs M Caffrey Miss M Gormley Mr J Donnelly Mr W Anderson Mr A Heaney Company secretary Majella Gormley Independent examlnèr Nial Colhoun Unit B15 Omagh Enterprise Centre Great Northem Road OMAGH Co Tyrone BT78 SLU
Sixmilecross Enterprise Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Directorfs Report) (conllnued) Year ended 31 March 2024 Structuro, governance and management i) Governing document Sixmilecross Enterprise Limtted is a Company Limited by guarantee. incorporated on 25th September 2001, and registered as a charity with the Charity Commission for Northern Ireland on 24th March 2016. The governing document of the charity is a Memorandum and Articles of Association which sets out the objectives and powers of the charitable company. ii) Recruitment and apFJointment of management commrttee The directors 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 elected on an annual basis. ii) Organisational structure Sixmilecross Enterprise Limited has a management committee of eight trustees. iv} Financial risk 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 generated from renting out office space in the Enterprise Centre. The directors do not foresee any financial risks in the coming year. Objectives and actlvltles The objectrve of the Company is to promote for the public benefit of the inhabitants of the Sixmilecross area of County Tyrone rural regeneration. They do this by the.. creation of training and employment opportunities through the provision 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. relief of povety. preservation and protection of health, the protection and conseNatlon of the natural environment, the preservation of the architectural and cultural heritage 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, povety or social and economlc clrcumstances, have need of such facillties. Achievements and perfornlance During the year Sixmilecross Enterprise Limited successfulty let all residential apartments and commercial units. Expenditure was kept to a minimum with only necessary repairs and maintenance carried out. Financial review The company is a charitable organisation. The results for the year are set out in the Statement of Finanical Activrties. Small company provlslons This report has been prepared in accordan with the provisions applicable to companies entided to the small companies exemption.
Sixmilecross Enterprise Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (contlnued) Year ended 31 March 2024 The trustees, annual report was approved on 30 July 2024 and signed on behalf of the board of trustees by". Miss M Gormley Trustee
Sixmilecross Enterprise Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Sixmilecross Entsrprise Limited Year ended 31 March 2024 I report to the trustees on my examination of the financial statements of Sixmilecross Enterprise Limited ('the charity) for the year ended 31 March 2024. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordan with the requirements of Charities Act (Northern Ireland) 2008 (the '2008 Acr) and the Companies Act 2006 {'the 2006 Act,). You are satisfied that the accounts of the 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 audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charivs financial statements as carried out under seclion 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. Indepondent examln6rf8 Statement I have completed my examination. I confirm 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 required by section 386 of the 2006 Act., or the financial ststements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and falrf view which is not a matter considered as part of an independent examination; or the financial ststements have not been prepared in accordan with the methods and principles of the Statement of Recommended Practice for accounting and reporting 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).
Sixmilecross Enterprise Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Sixmilecross Enterprise Limited (continued) Year ended 31 March 2024 I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached. A/J 6L Nial Colhoun Independent Examiner Unit B15 Omagh Enterprise Centre Great Northem Road OMAGH Co Tyrone BT78 SLU
Sixmilecross Enterprise Limited Company Limited by Guarantse Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Other trading activtties Investment income 30,873 70 30.873 70 25,099 11 Total income 30,943 30,943 25,110 Expenditure Expenditure on charitable activities Total expendlture 23,361 23.361 23,361 23,819 23.819 23,361 Net income and net movement In funds 7,582 7,582 1,291 Reconclllatlon of funds Total funds brought fonNard Total funds carried forward 88,315 3,500 3,500 91,815 99,397 90,524 95,897 91,815 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 9 to 12 forni part of these financlal statements.
Sixmilecross Enterprise Limited Company Limitsd by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 693,523 713.353 Current assets Debtors Cash at bank and in hand 10 3.500 13.003 3.500 2,528 16,503 6,028 Creditors: amounts falling due within one year Net current assets 11 5,462 11,041 704,564 5,625 403 Total assets less current liabilities 713,756 Creditors: amounts falling due after more than one year Net assets 12 605,167 99,397 621,941 91,815 Funds of the charity Restricted funds Unrestricted funds 3,500 95,897 99,397 3.500 88,315 91,815 Total charity funds 14 For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for compIng with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with 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 forni part of these financial ststements.
Sixmilecross Enterprise Limited Company Limited by Guarantee Statement of Financial Position (continued) 31 March 2024 These financial statements were approved by the board of trustees and authorised for issue on 30 July 2024, and are signed on behalf of the board by.. Miss M Gormley Trustee Twstee The notes on pages 9 to 12 forni part of these financial statements.
Sixmilecross Enterprise Limited Company Limited by Guarantee Notes to the Financial Ststements Year ended 31 March 2024 General Inforniation The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 32 Main Street, Sixmilecross, Co Tyrone, BT78 1 BN. statement of compllance These financial statements have b&n prepared in compliance wtth FRS 102, 'The Financial Reporting Standard application in the UK & the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK an the Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and th8 relevant companies and charities law. Accounting pollcles Basls of preparatlon The financial statements have been prepared on the hlstorlcal cost basis. Going concern There are no material uncertainties about the charitys abilty to continue. Judgements and key Sources of estlmatlon uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricted funds are available ft)r use at the discretlon of the trustees to further any of the charity's purposes. Incoming resources All income is included in the Statement of Financial Activities when entitlement has passed to the charity, it is probable that the economic benefrts associated with the transaction will ftow to the charity and the amount can be reliably measured. The following specific policy is applied to rent received from premises.. rental income is recognised upon delivery of the contracted seN1. This is classtfied as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent. in which case it may be regarded as restricted.
Sixmilecross Enterprise Limited Company Limited by Guarantee Notes to the Financial Statements {continued) Year ended 31 March 2024 Accounting policies (continued) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT and is classified under the heading 'Expenditure on charitsble activities, in the Statement of Financial Activities. This includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation. Depreciation 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 propety Fixtures and fittings 2 % straight line 20 % reducing balance Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received. Limited by guarantee Sixmilecross Enterprise Limited is a company limited by guarantee and accordingly does not have a share capital. Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Rental income 30,873 30,873 25,099 25,099 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable 70 70 10
Sixmilecross Enterprise Limited Company Limited by Guarantee Notss to the Financlal Statements (conrfnued) Year ended 31 March 2024 Net income Net income is stated after chargingl(crediting): 2024 2023 Depreciation of tangible fixed assets 19,830 19,966 Trustee remuneration and 8xpen808 A trustee received £1,040 in remuneration in relation to the provision of services. (2023.. £1,040) No other trustees have been paid any remuneration. Tanglble flxed a88ets Freehold Fixtures and property fittings Total Cost At 1 Aprll 2023 and 31 March 2024 Depreclatlon At 1 April 2023 Charge for the year At 31 March 2024 964,396 32,610 997,006 253,753 19,288 273,041 29,900 542 283,653 19,830 303,483 30,442 Carrying amount At 31 March 2024 6g1,355 710,643 2.168 693,523 713,353 At 31 March 2023 2,710 10. Debtors 2024 2023 other debtors 3,500 3,500 11. Creditor8: amounts falllng due wlthln ono year 2024 2023 Trade creditors Social security and other taxes 2,955 2,507 5,462 4,788 837 5,625 11
Sixmilecross Enterprise Limited Company Limitsd by Guarantee Notes to the Financial Statsments (continued) Year ended 31 March 2024 12. Credltors: amounts falling due after more than one year 2024 2023 Accruals and deferred income 605,167 621,941 13. Deferred government grants 2024 2023 At 1 April 2023 Amount released to income 621,941 (16,774) 605,167 638,767 (16,826) 621,941 At 31 March 2024 14. Analy81s of charltable funds Unre8trlctsd fund8 At 31 March 202 At 1 April 2023 Income Expenditure General funds 88,315 30,943 (23,361) 95,897 At 31 March 202 At 1 April 2022 Income Expendlture General funds 87,024 25,110 (23,819) 88,315 Restricted fund8 At 31 March 202 At 1 April 2023 Income Expenditure Restricted Fund 3,500 3,500 At 31 March 202 At 1 April 2022 Incorne Expenditure Restricted Fund 3,500 3,500 16. Restrlcted funds Restricted funds raised for the choir totalling £3,500 will be held on account and used for the good of the village once a suÈtable project becomes available. 12