CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GURANTEE) Trustees Annual Report and Unaudited Financial Statements for the year ended 31 March 2023 Registered Charity in Northern Ireland (NIC102068) Company Registration Number N1026208 Page I I
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) Financial Statements Year ended 31 March 2023 Contents CHARITY REFERENCE AND ADMINISTRATIVE DETAILS................................................................................ TRUSTEES, ANNUAL REPORT (INCLUDING DIREcfoRS' REPORT AND STRATEGIC REPORT)..................... TRUSTEES OF THE CHARITY........................................................ ......................... ............. ..... .... . . REFERENCE AND ADMINISTRATIVE DETAILS........................................................................................... STRUCTURE AND MANAGEMENT............................................................................................................ DESCRIPTION AND PURPOSE................................................................................................................... ACTIVITIES AND OBJECTIVES ..... .. . ACHIEVEMENTSAND PERFORMANCE..................................................................................................... PUBLIC BENEFIT STATEMENT.................................... . ... ........................................................................ FINANCIAL REVIEW................................................................................................................................... GOING CONCERN...................................................................................................................................... RESERVES POLICY..............-.................................................................-.... RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS........................................................... RISK REVIEW....................................................................................... .. ................................................... FURTURE PLANS................................................................................................................................ INDEPENDENT EXAMINERS REPORT............................................................................... ..... . ..................10 STATEMENT OF FINANCIALACTIVITY (INCLUDING INCOME AND EXPENDITURE ACCOUNT).................12 BALANCE SHEET.............................................................................................................................. . .13 NOTESTOTHE ACCOUNTS.........................................................................................................................15
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) Year ended 31 March 2023 CHARITY REFERENCE AND ADMINISTRATIVE DETAILS Registered charity name Carrickfergus Integrated Primary School Limited Charity registration number NIC102068 Company registration number N1026208 Principal office and registered office 110 Victoria Road Carrickfergus BT38 7JL The trustees Mr P Comins (Chairl Mrs P Maccorquodale Mrs J Fuller (appointed 7 September 20221 Ms A Barnett Mr D Branagh Mrs L Branagh Mr J J Macaulay Miss K Mccosh Mrs T L Phillips Mrs G Revie Mrs B Leslie Mrs S Fisher (appointed 7 September 2022) Mrs C Higgins (appointed 7 September 20221 Mr5 J Jackson (appointed 7 September 2022) Mrs E Miller {appointed 7 September 2022) Mrs C Webb (resigned 7 September 2022) Ms A M Davis (resigned 7 September 2022} Mr G Milliken (resigned 01 September 20221 Mr M Kelly (resigned 7 september 2022) Bankers Bank of Ireland Antrim Road Glengormley Co Antrim BT36 7QN Independent examiner Simon Hopper F.C.A. Hopper & Co 6 Doagh Road Ballyclare BT39 9BG
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED {A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT Year ended 31 March 2023 TRUSTEES, ANNUAL REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) The Trustees who are also directors for the purposes of company law present their report and the unaudited financial statements of the charity for the year ended 31st March 2023. The directors have adopted the provisions of the Statement of Recommended Practice {SORP) "Accounting and Reporting by Charities, (FRS102 Section IA) in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and applicable accounting standard5, Accounting and Reporting by Charities . Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102 Section IA), the charity's governing document, the Charities Act (Northern Ireland) 2008, Charities Act (Northern Ireland) 2013, The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, Companies Act 2006 and UK Generally Accepted Practice. TRUSTEES OF THE CHARITY The directors of the charitable company are its trustees for the purposes of charity law. The terms director and "trustee" are used interchangeably throughout the financial statements. The trustees who have served during the year were as follow5: Mr P Comins (Chair) Mrs P Maccorquodale Mrs J Fuller (appointed 7 September 2022) Ms A Barnett Mr D Branagh Mrs L Branagh Mrj J Macaulay Mi55 K Mccosh Mr5 T L Phillips Mrs G Revie Mrs B Leslie Mrs S Fisher (appointed 7 September 2022) Mrs C Higgins (appointed 7 September 2022) Mrs J Jack50n (appointed 7 September 20221 Mrs E Miller (appointed 7 September 20221 Mrs C Webb (resigned 7 September 2022) Ms A M Davis (resigned 7 September 2022) Mr G Milliken (resigned 01 September 2022) Mr M Kelly (resigned 7 September 2022)
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT {conVd) Year ended 31 March 2023 REFERENCE AND ADMINISTRATIVE DETAILS The registered name of the charity is Carrickfergus Integrated Primary School Limited, charity registration number: NIC 102068 and company number: Nl 026208 Principal office and registered office 110 Victoria Road Carrickfergus BT38 7JL The trustees Mr P Comin5 (Chair} Mrs P Maccorquodale Mrs J Fuller Ms A Barnett Mr D Branagh Mrs L Branagh Mrj J Macaulay Miss K Mccosh Mrs T L Phillips Mrs G Revie Mrs B Leslie Mrs S Fisher Mrs C Higgins Mrs J Jackson Mrs E Miller Bankers Bank of Ireland Antrim Road Glengormley Co Antrim BT36 7QN Independent examiner Simon Hopper F.C.A. Hopper & Co 6 Doagh Road Ballyclare BT39 9BG
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (convd) Year ended 31 March 2023 STRUCTURE AND MANAGEMENT Governing Document Carrickfergus Integrated Primary School Limited is a company limited by guarantee governed by its Memorandum and Articles of Association. Carrickfergus Integrated Primary School Limited is a registered charity with the Charity Commission for Northern Ireland. Appointment of trustees The Chairman and the Trustees recruit and select new Trustees as needed. New Trustees are recruited on the relevance of their professional skills, and their potential to be able to make a helpful contribution to the governance of the charity. As part of the recruitment process they are made aware of a Trustees, legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. Once the potential new Trustee has agreed to be considered for appointment to the role, the Trustees meet to review and to vote on the candidates, suitability for appointment. If there is unanimous agreement, their names are then proposed for appointment at the next Annual General Meeting. DESCRIPTION AND PURPOSE The purpose of the charity 15 to advance the education of pupils in Acorn Integrated Primary School by developing effective relationships between the staff, parent5 and others associated with the school and engaging in activities or providing facilities or equipment which support the school and advance the education of the pupils. ACTIVITIES AND OBJECTIVES In shaping our objertives for the year and planning our activities, the Trustees have considered the Charity Commission'5 guidance on public benefit. The strategy employed to achieve the charity'5 aims and objectives is to raise funds to assist in the provision of integrated education. This is achieved through the holding of fundraising events such as school discos, school fairs and school performances.
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT {conVd) Year ended 31 March 2023 These fundraising event5 are organised by the parents and teachers, council which is made up entirely of volunteers. ACHIEVEMENTS AND PERFORMANCE Some of the key achievements in the period to 31 March 2023 include: Total income from fundraising events of £5,882 arising primarily from the holding of the'Big Breakfast,, a danceathon and Christmas events; and Purchases of classroom materials of £956. PUBLIC BENEFIT STATEMENT The Board of Carrickfergus Integrated Primary School Limited confirm that they have had due regard for the guidance produced on public benefit by the Charity Commission for Northern Ireland, and are pleased to report that during the year the charitable company has continued to provide public benefits through the programmes and services we offer. In particular, the directors consider how planned activities will contribute to the aims and objectives they have set out. FINANCIAL REVIEW The charity recorded total income of £7,58212022: £5,294) for the year and expenditure of £5,824 (2022: £7,040). Expenditure relates to costs associated with assisting in the provision of integrated education and costs of holding the fundraising events. As at 31 March 2023, the charity has funds carried forward of £5,482 {2022: £3,724). GOING CONCERN The activities of the charity is dependent on ongoing fundraising activities. The Trustees are of the opinion that the charity has sufficient resource5 at the date of approval of these financial statements to meet commitments which will arise in the year from the date of signing this report. RESERVES POLICY Reserves are needed to bridge the timing gap between spending and receiving of income and to cover unplanned temporary shortfalls in income should they arise. Holding adequate reserves safeguards the provision of our services in the event of unexpected significant financial pressures.
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (convd) Year ended 31 March 2023 RESPONSIBILITIES IN RESPECT OF THE FINANCIAL STATEMENTS The trustees (who are also the directors of Carrickfergus Integrated Primary School Limited for the purposes of company law) are responsible for preparing the Directors ' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law require5 the directors 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 the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to: select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP 2019 IFRS102); make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed , subject to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue to operate. The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006, Charities Act (Northern Ireland) 2008 and Charities Act (Nolthern Ireland) 2013 and Charities (Accounts and Reports) Regulations {Northern Ireland) 2015. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the charitable company and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other j u risdictions. RISK REVIEW A review of major risks has been undertaken by the Trustees and systems and procedures implemented to manage identified risks. The principal risks are in relation to the likelihood of reputational damage and financial risks associated with the expectation of ongoing financial 5UPPOrt from funders. These risks are mitigated by the Trustees regularly monitoring the various activities of the charity at stated meetings and by reviewing available funding streams.
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED {A COMPANY LIMITED BY GUARANTEE) TRUSTEES REPORT (convd) Year ended 31 March 2023 FURTURE PLANS It is the Trustee5' intention to develop the present attivities of the charity in order to continue to advance the education of pupils in Acorn Integrated Primary School. Disclosure of Information to Independent Examiner So far as each of the directors in office at the date of approval of these financial statements is aware: there is no relevant audit information of which the charitable company'5 independent examiner is unaware; and they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant information for the independent examination and to establish that the charitable company's independent examiner is aware of that information. Small Companies, Exemption This report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. Independent Examiner Hopper & Co., have indicated their willingness to remain in office and a resolution for their re-election will be proposed at the folthcoming Annual General Meeting. Approved by the trustees at a meeting on 2'ikLlcS and signed on its behalf by: Mrs P Maccorquodale Director & Trustee
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINERS REPORT Year ended 31 March 2023 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) I report on the financial statements of Carrickfergus Integrated Primary School Limited for the year ended 31st March 2023 which are contained within the 2023 Annual Report. Respective responsibilities of trustees and independent examiner Carrickfergus Integrated Primary School Limited's trustees are responsible for the preparation of the financial statements in accordance with the terms of the Charities Act {Northern Ireland) 2008. Carrickfergus Integrated Primary School Limited's trustees consider that an audit is not required under section 6512) (audit} of the Charities Act {Northern Ireland) 2008 forthe year and that an independent examination under settion 6411) of the Charities Act (Northern Ireland} 2008 15 required. It is my responsibility to: examine the accounts to State whether particular matters have come to my attention. Basis of independent examiner's report My examination was carried out under Section 65 of the Charities Act (Northern Ireland} 2008. An examination includes a review of the accounting records kept by the Church and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from the trustees concerning any such matters. The procedures do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the financial statements. Independent examiner's statement In the course of my examination, no matter has come to my attention: (l) which gives me reasonable cause to believe that in any material respect the requirements: to keep proper accounting records in accordance with Section 63 of the charities Act (Northern Ireland} 2008, and to prepare financial statements which accord with the accounting records in accordance with Section 64 of the Charities Act (Northern Ireland} 2008 have not been met; or 101 Page
{2) to which, in my opinion, attention should be drawn in order to enable a proper understanding of the financial statements to be reached. S Hopper FCA Partner Hopper & Co
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE} STATEMENT OF FINANCIAL AcfiviTY {INCLUDING INCOME AND EXPENDITURE ACCOUNT) for the year ended 31 March 2023 Note Unrestricted Funds Restricted Funds Total 2023 Total 2022 Income from: Donations and legacies Investment Income 7,557 25 7,557 25 5,252 42 Total Income 7,582 7,582 5,294 Expenditure on: Charitable activities 5,824 5,824 7,040 Total Expenditure 5,824 5,824 7,040 Net Income 1,758 1,758 (1,746) Net movement in funds Funds brought forward 1,758 3,724 1,758 3,724 {1,746) 5,470 Funds carried forward 10 5,482 5,482 3,724 All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year.
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET As at 31 March 2023 Note 2023 2022 Fixed Assets Tangible Fixed Assets Total fixed assets 1,172 1,172 1,562 1,562 Current Assets Debtors Cash and cash equivalents Total current assets 128 140 6,962 7,090 3,099 3,239 Creditors- amount5 falling due within one year 2,780 1,077 Net Current Assets 4,310 2.162 Total net Assets 5,482 3,724 Funds of the charity Unrestricted funds General funds Total charity funds 10 5,482 5,482 3,724 3,724 For the year ending 31 March 2023 the company wa5 entitled to exemption from audit under section 477 of the Companies Att 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 director5 acknowledge their responsibilitie5 for complying 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 companie5, regime.
These financial statements were approved by the board of directors and authorised for issue ,, &-02Lg15 and are signed on behalf of the board by: Mrs P Maccorquodale Dirertor & Trustee The notes on page5 15 to 24 form part of these financial statements. Company Registration Number: Nl 026208 141 Page
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS for the year ended 31 March 2023 I. ACCOUNTING POLICIES General information and basis of preparation Carrickfergus Integrated Primary School Limited is a charitable company limited by guarantee and not having a share capital and is registered in Northern Ireland. The address of the registered office is given in the charity information on page l of these financial statements. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. The charitable company constitutes a public benefit entity as defined by FRS 102. Statement of compliance The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and applicable accounting standards, Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repolting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS102 Section IA), the charity's governing document, the Charities Act {Northern Ireland) 2008, Charities Act (Northern Ireland) 2013 The Charities (Accounts and Reports) Regulations (Northern Ireland) 2015, Companie5 Act 2006 and UK Generally Accepted Practice. The financial statements are prepared on a going concern basis under the historical cost convention. The financial statements are prepared in sterling which is the functional currency of the charity rounded to the nearest £1. The significant accounting policies applied in the preparation of these financial statements are set out below. The directors consider that these policies are 5Ultable, have been consistently applied and are supported by reasonable and prudent judgements and estimates. FUND ACCOUNTING The charity has various types of funds for which it is responsible, and which require separate disclosure. A definition of the various types of funds is as follows: Restricted funds comprise (a) income from endowments which is to be expended only on the restricted purposes intended by the donor and (b) revenue donations or grants for a specific charitable activity intended by the donor. Where these funds have unspent balances, interest on their pooled investment is apportioned to the individual funds on an average balance basis.
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 31 March 2023 Unrestricted funds are funds which are expendable at the discretion of the Charity in furtherance of its objectives. In addition to expenditure on activities such funds may be held in order to finance capital investment and working capital. Designated funds are general funds set aside by the trustees for use in the future. INCOMING RESOURCES All incoming resources are included in the Statement of Financial Activities (SOFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received. For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this require5 a level of performance before entitlement can be obtained, then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity, and it is probable that they will be fulfilled. Voluntary income received by way of donations and gift is credited to revenue on a receivable basis. The charity receives grants in respect of support services. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred. Revenue grants are credited to incoming resource5 on the earlier date of when they are received or when they are receivable unless they relate to a specified future period. Other income represents income that cannot be reported under the other analysis headings provided within the SOFA. Incoming resources with related expenditure Where incoming resources have related expenditure (as with insurance proceeds} the incoming resources and related expenditure are reported gross in the SOFA. 161 Page
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS {cont'd) 31 March 2023 Grants and donations Grants and donations are only included in the SOFA when the charity has unconditional entitlement to the resources. Tax reclaims on donations and gifts Incoming resources from tax reclaims are included in the SOFA at the same time as the gift to which they relate. (iv) Contractual income and performance related grants This is only included in the SOFA once the related goods or services have been delivered. (v) Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their value to the charity or the amount actually realised. Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the charity. Gifts in kind for use by the charity are included in the SOFA as incoming resource5 when receivable. {vi) Donated services and facilities These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the charity is reasonably quantifiable, measurable and material. The value place on these resources is the estimated value to the charity of the service or facility received. (vii) Investment income This is included in the accounts in the period to which it relates. (viii) Investment gains and losses This includes any gain or1055 on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year. EXPENDITURE AND LIABILITIES All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. It is categorised under the following headings: Expenditure on charitable activitie5 comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries and includes salary costs, support service expenses, and an apportionment of support costs; Other expenditure represents those items not falling into the categories above. 171Page
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (cont'd) 31 March 2023 Liability recognition Liabilities are recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. Governance costs These are shown within charitable activities and include the costs of preparation and examination of accounts, the costs of trustee meetings and cost of any legal advice to trustees on governance or constitutional matters. Grants with performance conditions Where the charity gives a grant with conditions for its payment being a specific level of Service or output to be provided, such grant5 are only recognised in the SOFA once the recipient of the grant has provided the specified service or output. (iv) Grants payable without performance conditions These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relating to the grant which remain in the control of the charity. (v) Support costs Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office cost5, governance costs and administrative payroll costs. They are incurred dirertly in support of expenditure on the objects of the charity. Where support costs cannot be directly attributed to particular headings, they have been allocated to cost of raising funds and expenditure on charitable activities on a basi5 consistent with use of the resources. Premises overheads have been allocated on a basis consistent with the use of the resources. Staff costs and other overheads have been allocated based on time spent, per capita and attivity. Employee benefits When employees have rendered service to the charity, sholt-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. Value Added Tax The charity is not registered for VAT purposes, therefore expenditure is shown gross of VAT. 181Page
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS {cont'd) 31 March 2023 ASSETS (i) Tangible Fixed Assets The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition. Depreciation is calculated so as to write off the cost of tangible fixed assets, less their estimated residual values, on a straight-line basis over the expected useful economic lives of the assets concerned. The principal annual rates used are as follows: Fixtures and fittings 25Yo Reducing balance In accordance with FRS102, assets under construction are not depreciated until such times as they are available for use. Where the recoverable amount of a fixed asset is found to be below its net book value, the asset is written down to the recoverable figure and the loss on impairment is recognised in the SOFA. (li) Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at tru5tees' best estimate of market value. Investments Leases Rentals payable under operating leases are charged to the SOFA on a straight-line basis over the period of the lease. Tax As a charity, the company benefits from various exemptions afforded by tax legislation. It IS therefore not liable to corporation tax on income or gain5 falling due within those exemptions. Recovery is made of tax deducted from receipts under gift aid. Going concern The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial Statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern. Judgements and key sources of estimation uncertainty The following judgements including those involving estimates have been made in the process of applying the above accounting policies that have had the most significant effect on the amounts recognised in the financial statements and that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year:
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS {conVd) 31 March 2023 depreciation method and asset useful lives The estimates and assumptions are reviewed on an ongoing basis considering the current and future market conditions. 2. DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds Total 2023 Receipts from Fund Raising Donations 5,882 1,675 5,882 1,675 7,557 7,557 Unrestricted Restricted Funds Funds Total 2022 Receipts from Fund Raising Donations Other Income 3,750 1,150 352 3,750 1,150 352 5,252 5,252 3. INVESTMENT INCOME Unrestricted Funds Restricted Funds Total 2023 Total 2022 Deposit interest 25 25 42 25 25 42
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS (convd) 31 March 2023 13. LIABILITY OF MEMBERS Carrickfergus Integrated Primary School Limited is a company limited by guarantee and does not have a share capital. It is governed by a Memorandum and Articles of Association and the liability of members is limited to an amount not exceeding £1. 14. ULTIMATE CONTROLLING PARTY There is no ultimate controlling party. 15. ETHICAL STANDARDS In common with many other organisations of our size and nature, we use our independent examiner to prepare and assist in the preparation of the financial statements. 16. RELATED PARTIES There were no related party transactions during the year (2022: £Nil}. 241Page