CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY LIMITED BY GURANTEE) Trustees Annual Report and Unaudited Fin.ancial Statements forthe year ended 31 March 2024 Registered Charity in Northern Ireland (NIC102068) Company Registration Number N1026208 Page | I
CARRICKFERGUS INTEGRATED PRIMARYSCHOOL UMITED. (A COMPANY UMITED BY GUARANTEE} Financial Statements. Year ended 31 March 2024 Contents CHARITY REFERENCE ANDADMINISTRATIVE DEfAILS.. ...-...-.........-..-....-........................-............. TRUSTEES, ANNUAL REPORT (INCLUDING DIREcfoRS' REPORT AND sfRATEGIC REPORT)...................... TRUSTEES OFTHE CHARftY...-........ -..............-.........-........ .-....-....... ........-... .............-.-............. . ....... REFERENCE AND ADMINISTRATIVE.DEfAILS .....................-............-............................-...-....................... STRUCTURE AND MANAGEMENT......-..............................-.-.....-..-..-.........-..................-......... .... ... . .... DESCRIPTION AND PURPOSE._.........................-...........................-......................-.............-...................... ACTIVITIES AND OBJECtIVES .............-...........-............................. -....- ..-.-..-...........-......- ....-.-.................. ACHIEVEMENTSAND PERFORMANCE...-.....-.... ......................... ............-.......-...-...........-.-...................... PUBLIC BENEFIT STATEMEThfr.....................................-.....-.-..-........... ......-.............-.......-.-.-...................... FINANCIAL REVIEW..-. GOING CONCERN....................-.......................................-.......................-..--..........-...........-...-.................. RESERVES POUCY.......-...............................-........................... ....... .. RESPONSIBILITIES IN RESPEcf OFTHE FINANCIAL STATEMENTS.-..... .-....... -.....-.........-.......-................ RISK REVIEW...........-..-.........-..........-.... .........................-....-..................-... .-....-...-..-......-........................ FURTURE PLANS.................................... ...................-.-........ ...... .. .. .....-.-.................... .........-................ INDEPENDENT EXAMINERS REPORT...-......... ....... . . .10 STATEMENT OF FINANCIALACTIVITY (INCLUDING INCOME ANDEXPENDITURE ACCOUNT) ................. 12 BALANCE SHEEf.............-.........-....................................-........................-....... ..-.....-....................................13 NOTES TO THE ACCOUNTS.................................--...... .15
CARRICKFERGUS lTrtrEGRATED PRIMARY S£FFOOL LIMITED (A COMPANY UMITED BY GUARAKfEE) y.ear ended 31 March 2024 CHARITY REFERENCE AND ADMINisfRATIVE DEfAI LS Registered charity name Carrickfergus Integrated Primary School Limited Charity registration numb.er NIC102068 Company registration number N1026208 Principal office and reg]ered office Ilo Victoria Road Carrickfergus BT38 7JL The trustees Mr P Comins (Chair) Mrs P Maccorquodale Mrsj Fuller Ms A Barnett Mr D Branagh Mrs L Branagh Mr J J Macaulay -mi55 K Mccosh Mrs T L Phillips Mrs G Revie Mrs B Leslie Mrs S Fisher Mrs£ 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 SCYOQL LIMITED (A COMPANY UMrrED BY GUARANTEE) TRusfEES REPORT Year ended 31 March 2024 TRUSTEES, ANNUAL REPORT (INCLUDING DIREcfoRS' REPORT AND sfRATEGIC REpoirr) 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 31 March 2024. The directors have adopted the provisions of the Statement of Recommended Prartice (SORP) "Accounting and Reporting by Charities ' (FRS102 Sectiorn IA).in preparing the annual report and fir(ancial statements of the charity. The financial statements. have been prepared in accordance with the.accountinE policies set out in notes to the financial statements and applicable accounting standards, Accounting and Reporting by Charities . Statement of Recommended Practice applicable to ch3rities preparingtheir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reportingstandard applicable in the LJn]ted.iDgd0rn.and Republic of Ireland (FRS 102 Section IA},the£harity'S governing document. the Charities Act (Northern Ireland) 2008, Charities Act {North.ern Ireland) 2Q13. The Charities (Accounts and Rep.orts) Regulations (Northern Ireland) 2015, Companies Act 2006 and UK Generally Accepted Prattice. TRUSTEES OF THE CHARITY The directors of the charitable company are tts trustees for the purposes of £harity law. The terms ' director and "trustee" are used interchangeably throughout the.financial statements. T.he trustees who have served duringthe year were asfollow5= Mr P Comins (Chair) Mrs P MacCorquodale- Mrs J Fuller Ms A Barnett Mr D Branagh Mrs L Branagh MrJJ 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
CARRICKFERGUS INTEGRATED PRIMARYSCHOOL UMrrED (A COMPANY UMITED BY GUARANTEE) TRUSTEES REPORT (conffd) Year ended 31 March 2024 REFERENCE AND ADMINISTRATIVE DEfAILS The registered name of the £harity 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 Comins (Chair) Mrs P Maccorquodale Mrs J Fuller Ms A Barnett Mr ty Branagh Mrs L Branagh Mr J J Macaulay Miss K Mccosh Mrs T L Phillip& Mrs G Revie Mrs B Leslie Mrs S Fisher Mr5 C Higgins Mrs J Jackson Mrs E Miller Bankers Bank of Ireland Antrim Road Glengormley .Co Antrim T36 7QN Independent examiner Simon Hopper F.C.A. Hopper & Co 6 Doagh Road Ballyclare BT39 9BG
CARRICKFERGUS.l TrtrEGRATED PRI MARY SCHOOL LIMITED {A COMPANY LIMITED BY GUARAKfEE) TRusfEES REPORT {conVd) Year ended 31 March 2024 STRucfuRE AND MANAGEMENT Governing Document Carrickfergus Integrated Primary School Limtted is a company limited by guarantee.governed by its Memorandum and Articles of AssociatiDn. Carrickfergus Integrated Primary School Limited is a registered charitywith the Charity Commission for Northern Ireland: Appointment of trustees The Chairman and theTrustees recruit arid select new Trustees. as oeeded. New Trustees are recruited on the relevance uf their prof.essional skills. and their potential to be able to make a helpful contribution to the governance of the charity. As part of the recruitment p.roces&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 th-e candidates, suttability for appointment. If there is unanimous agreement, their nam.es are then proposed for appointment at the nexi.Annual General Meeting. DESCRIPTION AND PURPOSE The purpose of thecbarity is to advance the education of pupils in.Acorn Integrated Primary School by developing effective relationships between the staff, parents and others associated w.ith the school and engaging in activities or providing facilities or equipment which support the school. and advance the education of the pupils. ACTIVITIES AND OBJEcllvES In shaping our objectives for the year and planning our activities, the Trustees have.considered the Charity Commission s guidance on public benefit. The strategy employed to achieve the charity's aims and objectives is to raise funds to assist in the provision of integrated education. This is ?chieved through the holding of fundraising events such as school discos. school fairs and.school performances. These fundraising events are organised by the parents and teachers. council which is.made up entirely of volunteers. 61 Page
CARRICKFERGUS.If+tfEGRATED PRIMARY SCHOOL LIMrrED (A COMPANY UMrrED BY GUARAhrrEE) TRusfEES REPORT (convd) Year ended 31 March 2024 ACHIEVEMEDrrs AND PERFORMANCE Some of the key achievements in the period to 31 March 2024 include: Total income from fu.ndraising events of £20,532 arising from holding a number o.f events including a danceathon and Christmas events; and Purchases o.f classroom materials. of £3.058. PUBLIC BENEFtr srATEMEKr The Board of Carrickfergus Integrated Primary School Limited confirm that they have had due regard for the guidance produced on public benefft by the Charity Commission f(srNorthern Ireland, and are pleased to report that during.the y.ear the charitable company has continued to provide public benefits through the programmes and services we offer. In particular, th-e direttors consider how planned activities will contribute to the aims and objettives they have set out. FINANCIAL REVIEW The charity recorded total income of £25.265 {2023: £7,582) fo.r the year and.expenditure of £19,119 12023." £5,824). Expenditure relates to costs associated with assisting in the provision of integrated education and costs of holding tbe fundraisin£ events. As at 31 March 2024, the charity has funds carried forward of £11,628 (2023= £5,482). GOING CONCERN The activities ofthe charity is:dependent on ongoing fundraising activ.ities. The Trustees are of the opinion that the char.ity has sufficient resources at the date of approval of these financial statements to meet commitments which will arise in.the year from the date of signingthis report. RESERVES POUCY Reserves are needed to bridge the timing gap beeen spending and receiving of income and to cover unplanned temporary shortfalls in income should they arise. Holding adeq-uate reserves safeguards the provision of ourservices in the eyent of unexpected significantfinancial pressures.
CARRICKFERGUS INTEGII4TED PRI MARY SCHOOL LIMrr.ED (A COMPANY UMrrED BY GUARANTEE) TRusfEES REPORT {conVd) Year ended 31 March.20Z4 RESPONSIBILITIES IN RESPEcf OFTHE FINAN.CIAL sfATEMENTS The trustees (who arealso thedirectors.of Carrickfergus Integrated. Primaryschool 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 requires.the directors to prepare financial statements for each fin3ucial year which give a true and fair viewof thestate of affairs of the charttable company andof the incoming resources and application of resour.ces, including the income and expendtture, of the charitable company for that period. In preparing these financlal statements, the directors are required to" select suitable accounting policies and then apply them consistently- observethe methods and principles in the Charities SORP 2019 {FRS102)- make judgements an.d 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 ba.sis unless.it is inappropriate to presume that the charitable companywill continue to operate: The directors are-responsible for ke.eping adequate accounting records that disclose with reasonable accuracy at any time the fir(ancial position of the charitable comp.any and enable them to ensure that the financial statements compjy with the Companies Act 2006, Charities Act (Northern Ireland) 2008 and Charities Act (Nolthern Ireland) 2013 and Charities (Accounts and Repo.rts) Regulations (Northern Ireland) 2015. They are also responsiblef.or safeguarding the assets of .the charitable company and hence for taking reasonable steps for the prevention and detettion of fraud an-d other irregularities. The directors are responsible for the maintenance and integrity. of the charitable company and financial information included on the charitable cornpany's website. Legislation in the United Kingdom governing the preparation and.dissemination of financial statements may differ from legislation in other jurisdictions. RISK REVIEW A review of major risks has been undertaken bythe 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 ongoingfinancial support from funders. These risks are mitigated bythe Trustees regularly monitoring the various activities of the charity at stated meeting5 and by reviewing available fundirTg stream5.
CARRICKFERGUS INTEGRATED PRIMARYSCHOOL LIMED (A.COMPANY UMITED BY GUARANTEE) TRUSTEES REPORT (convd) Year ended 31 March 2024 FURTURE PLANS It is the Trustees intention to develop the present activities of the charity in orderto continue to advance the education of pupils in Acorn Integrated Primary School. Disclosure of Information to Independent Examiner So far as each of the directorsiTh office.at the date of approval of these financial statements is aware: there is no relevant audit information of which the charitable company's independent examiner is unaware- and they have taken all thesteps that they ought to have taken as directors in order to make themselves aware of any relevant infomiation for the independent examination and to establish that the cbaritable compan.y s independent examiner is aware of that Énformation. Small Companies Exemption This report has been prepared in accordance with the special provisiorts felating to small companies within Part 15 of the Companies Act 20(J6 . 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 m.eeting on 1711 I | lit and signed on its behalf by: Mrs P Maccorquodale Director & Trustee
CARRICKFERGUS IPtrEGFIATED PRI MARY SCHOOL LIMrrED (A COMPANY LIMITED BY GUARAiwfEE) INDEPENDE EXAMINERS REPORT Year ended 31 March 2024 INDEPENDENT EXAMINERS REPORT. TO TAE TRusfEES OF CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMITED (A COMPANY UMITED BY GUARANTEE) I report on the financial Statements of Carrickfergu5 Integrated P.rirriary School Limited for the year ended 31st March 2024 which are contained within the 2024 Annual Report. Respective responsibilities.of trustees and independent examiner Carrickfergus Integrated Primary School Limited'5 trustees are responsible for the preparation of the financial statements in accordance.with.theterms of the Charities Act (Northern Ireland) 2008. Carrickfergus Integrated Primary School Limited's trustees considerthat an audit is not relluired under Section 6512) (auditj of the Charities Act {Northern Ireland) 2008 for the year and that an independent examination under section 64(1) of the Charities Act (Northern Ireland) 2008 is required. It is my responsibility to:. examine the accounts to state whether particular matters have come to myattention. Basis of independent examiner s report My examination was carried out undersection 65 of the Charities.Act {Northern.Ir.eland) 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- no.t provide all the evidence that would be rRquired 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= (11 which gives me re350nable cause to believe that in any material respect the requirements: to keep proper accounting records in accordance with Section 63 o.f the charities Act (Northern Ireland) 2008, and to prepare fiNancial statements which accord wtth the accounting records in accordance with Section 64 of the Charities Act (Northern Ireland) 2008 have not been met; or
(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 111 Page
CARRICKFERGUS lTrtrEGRATED PRIMARYSCHOO.L UMrrED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIALACTivrrY (INCLUDING INCOMEAND EXPENDrruRE ACCOUNT) for the year ended 31 March 2024 Note Unrestricted Funds Restricted Funds Total 2024 Total 2023 Income from: Donations and legacies Investment Income 25,242 23 23 Total Income .7.582 Expenditure on: Charitable activities 19,119 Total Expenditure 19,119 19.119 5.824 Net Income 6,146 1,758 Net movement in funds Funds brought forwar.d 6.146 5.482 1,758 5,482 Funds carried forwar-d 10 All income and expenditure denve from continuing activities. The statement of financial attivities inclLtdes all gains and losses recognised during the year. 121 P3ge
CARRI.CKFERGUS. INTEGRATED PRIfvIARYSCHOOL UMITED (A COMPANY LIMITED BY GUARAhrrEE) BALANCE SHEEr As at 31 March 2024 Note 2024 2023 Fixed Assets Tangible Fixed Assets Total fixed a55ets 880 1,172 Current Assets Debtors Cash and cash equivalents Total current assets 116 128 11.540 11.656 6,962 7,090 Creditors- amounts falling due witbin one year 2,780 Net Current Assets 4,310 Total net Assets 5,482 Funds of the charity Unrestricted funds General funds 11.628 5,482 5,482 Total charity funds For the year ending 31 March 2024 the company was entitled to exemp.tion from audit under section 477 of the Companies Act 2006 relating to small companies. Directors responsibilities: The members have not re.quired the company to obtain an audit of its financial statements for the year in question in accordancewith section 476- The directors acknowledge their responsibilities for complying with.the requirements of the Act with respect to. accounting records and the preparationof.fin3ncial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subjectto the small companies regime.
These financial statements were.approved by the board of directors and authorised for issue on l 31 i I I-IW and are signed on.behalf of the board by= Mrs P Maccorquodale Director & Trustee The notes on pages 15. to 24 form part of these financial statements. Company Registration Number: NJ 026208 141 Pdge
CARRICKFERG.US INTEGRATED PRIMARY SCHOOL LIMITE (A COMPANY UMITED BY GUARAKfEE) NOTES TO THE ACcour5 for the year ended 31 March 2024 l. AccouMfiNG POUCIES General informationand basis of preparation Carrickfergus Integrated Primary School Limtied is a charitable company limited by guarantee and not having a share capital and is registered in Northern Ireland. The.address of the r.egistered office is given in the charity information on page l of these financial statements. The company was estabjished under a Memorandum of Association which estabjished 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 Repub.licof 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.goveming document: the Charities Act {Northern Ireland) 2008, Charities Act (Northern Ireland) 2013 , The Charities {Accounts and Reports) Regulations (Northern Ireland) 2015, CompaniesAct 2006 and U.K 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 isthe funrtional currency of the charity rounded to the nearest £1. The SiEnificant accounting policies applied in the preparation of these financial statements are set out below. The directors consider that these policies are suitable, have been consistently applied and are supported by reasonable and prudent judgements and estimates. FUND ACCOUrING The charity has various types o.f funds fo.r which it is responsible. and which.requite separate disclosure. A definition of thevarious ty.pes 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 gr.ants for a specific charitable activity intended by the don.or. Where these funds have unspent balances. interest on.their pooled investment is apportioned to the individual funds on an average balance basis:
CARRICKFERGUS INTEGRATED PRIMARYSCHOOL LIMIT:ED (A COMPANY LIMITED BYGUARAMfEE) NOTES TO THE ACCOUNTS (convd) 31 March 2024 Unrestricted funds ar.e 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 orderto finance capital investment and w.orking. capital. Designated funds are gen.eral funds set aside b¥the trusteesfor 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 afterBny performance conditions have been met..the amount can be measured reliabty. 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 requires a level of performance before entitlement can be obtained, then income is deferred until those conditions Bre fully met or the fulfilment of those conditions is within the control of the charity, and it is pr.obable.that they will be fulfilled. Voluntary Income received by way of donations and gift is-credited to revenue on 3 receivable basis. The charity receiv.esgraDts in respect of support services. 1nco.me from government and other grants are recognised at fair value when the charity has entitlement after any perfomiance 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 resources 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 underthe other3nalysis headings provided within the SOF Incoming resources with rèlated 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 IPtrEGRATED PRIMARYSCHOOL LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE ACCOUNTS Iconvd). 31 March 2024 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 5u.FA at the same time as thegift to which they relate. Contractual income and performance related grants This is only included in the SoFAonce the related goods or serv.ices have been delivered. Gifts in kind Gifts in kind are accounted for at a reasonable estimate of their valueto th.e 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 bythe charity- Gifts in kind for use by the charity are included in the SOFA as incoming resources when receivable. {vi) Donated services and facijities These are only included in in£oming resources (with an equivalent amount in resources expended} where the benefrt 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 iThcome This is included in the accounts in.the period to which it relates.. (viii) Investment gains.and10sses This includes any gain or105s.on the sale of investments and. any gain or loss resulting from rev.aluing investments to market value at the end of the year. EXPENDITURE AND UABIUTIES All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related.to the catego.ry. It is categorised under the following headings-. Expenditur.e on charitable activities comprise5 those costs incurred by the charity in the delivery of its activities and serv.ices 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.
CARRICKFERGUS INTEGRATED PRIMARYSCHO.OL LIMITED (A COMPANY UMITED BY GUARANTEE) NOTES TO THE ACCOU pirs (cont'd) 31 March 2024 Liability recognition Liabilitie5 are recognised wberethere.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. Governan 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 matter5. Grants with performance conditions Where the charity gives a grant with con-ditions for its payment being a specific level of service or output to be provided, such grantS.3re only recognised in the SoFAoncethe recipient of the gtant has provided the specified service or output. (iv) Grants payable without performance conditions These are only recognised in the accounts when a co.mmitment 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 Dot directly represent charitable activities and include office costs. governance costs and administrative payroll costs_ They are incurred directly in support of expenditure on the objects of the charity.. wher.e 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 basis consistent with use of the resource5. 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 activity. Employee benefits When employees have rendered service to the charity, sholt-term emplo.yee benefits to which the employees are entitled are recognised at the undiscounted amoutrt expectedto be paid in exchange for that service. Value Added Tax The charity is not registered for VAT purposes. therefore expenditure is sho.wn gross of VAT.
CARRICKFERGUS IrEGRATED PRIMARY SCHOOL LIMrrED {A COMPANY LIMrrED BY GUARANTEE) NOTES TO THE AccouKfs {conYd) 31 March 2024 ASSETS 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 5traight-line basis over the exp_ected useful economic lives of the assets concerned. The principal annual rates used. are as follows" Fixtures and fittings 25% Reducing balance In accordance with FR5102. assets underconstrurtion are not dep.r.eciated until such times as they are available for use. Where the recoverable amount of a fixed asset is found to be below its nètbook value.the asset is written down tothe recoverable figure and the10ss on Impairment is recognised in the SOFA. Investments Investments quo.ted on a recogrTised Stock exchange are valued at market v.alue at the year end. Other investment assets are included at trustees. best estimate of market value. Leases Rentals payable under operatingleases are charged to the SOFA on. a straight-line basis over the period of the lease. Tax As a charity, the £oinpany beneffts from v.arious exemptions afforded by tax legislation. It IS therefore not liable to corporation tax on income or gains 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 asthe trustees believe that no material uncertainties exist. The.trustees have considered the level of funds b.eld and the expected level of income and expenditure for 12 nTonths from authorising these financial statements. The budgeted income and expenditure is sufficientwith 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 thÈ process of applying the above accounting policies that have had the most significant effett o.n the amounts recognised in thefinancial statements and that have a significant risk o.f causing.a material adjustment to the carrying amounts of assets and liabilities within the next financial year: 19 | Page
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL UMITED (A COMPANY UMITED BY GUARAThrrEE) NOTESTO THE AcCoUr5 {conVd) 31 March 2024 depreciation method and asset useful lives The estimates and assumptions are reviewed on an ongoing basis considering the current and future market conditions. 2. DONATIONSAND LEGACIES Unrestricted Restricted Funds Funds Total 2024 Receipts from Fund Raising Donations 20,532 4,710 25,242 Unrestrirtéd Restricted Funds Funds Total 2023 Receipts from Fund Raising Donations Other Income 5,882 5,882 1,675 3. INVESTMENT INCOME Unrestricted Funds Restricted Total 2024 Total Deposit interest 23 25 25 20IPage
CARRICKFERGUS INTEGRATED PRIMARY SCHOOL LIMrrED (A COMPANY LIMITED BY GUAFIAKfEE) .NOTES TO THE ACCOUNTS Iconvd) 31 March 2024 4. CHARITABLE ACTIVITIES Unrestricted Funds Restricted Funds Total 2024 Total 2023 Fund Raising Costs Direct Costs Repairs and renewals-. Depreciation Sundry Expenses Governance costs (note 5) 4.550 7.010 3.527 292 1,768 1,268 7,010 3,527 292 390 958 1,440 480 19,119 5,824 5. GOVERNANCE.COSTS Unrestricted. Funds Restricted Total 2024 Total 2023 Independent Examination fees 480 480 1,440 480 6. TAXATION The charity is a.registered charity,.and as such is entitled to certain tax exemptions on income and profits from investments. and surpluses on any trading activities carried out in the furtherance of the charity's primary objectives. if these profjts and surpluses are applied solely for charitable purposes. The charity Is not registered for VAT3nd, accordingly, all their expenditure is inclusive.of any VAT incurred. 211P3ge
CARRICKFERGUS.INTEGRATED PRIMARY SCHOOL UMITED (A COMPANY LIMITED BY GUARANTEE) NOTESTO THE ACCOUNTS (convd) 31 March 2024 7. TANGIBLE FIXED ASSErs. Fixtures Fittings Cost At beginning of the year At end of the year 39,641 39,641 Depreciation At beginning of the year Depreciation Disposals At end of the year 38,469 292 38,761 Net book value at beginning of the year Net book value at end.of the year 1,172 880 8. DEBTORS 2024 2023 Debtors 128 116 128 9. CREDITORS 2024 2023 Accruals 908 .908 2,780 2,780 221 Page
CARRICKFERGUS Ip¥fEGRATED PRIMARY SCHOOL LIMITED {A COMPANY LIMITED BY GUARArEE) NOTES TO THE ACCOUTrtrs (convd) 31 March 2024 10. FUND BALANCES Fund Balance at start Income Expenditu Surplus / Transfer re (Deficit) Balance at end Unrestricted Funds General fund 25,265 .6.146 11,628 Total 5.482 25,265 6.146 11. ANALYSIS OF NEfASSEtS BEfwEEN FUNDS Unrestricted Restricted F.unds Funds Total 2024 Fixed Assets Net Current Assets 880 880 10,748 11,628 Unrestricted Restritted Funds Funds Total 2023 Fixed Assets Net Current Assets 1,172 4,310 4.310 5,482 12. FINANCIAL COMMITMENT No contracts had been placed for futur.e capital expenditure at the balance sheet date 23 | Page
CARRICKFERGUS IKfEGRATED PRIMARY SCHOOL UMITED (A COMPANY LIMITED BY GUARAhrrEE) NOTES TO THE AccourS (convd) 31 March 2024 13. LIABILITY OF MEMBERS Carrickfergus Integrated Primary sc.hool Limtted is a company limited byguarantee and does not have a share capital. It is governed by a Memorandum and Articles of Asso.ciation and the liability of members is limited to an" amount not exceeding £1. 14. ULTIMATE CONTROLLING PAKrY 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 p.arty transactions during the year (2023: £Nil). 241Page