COMPANY REGISTRATION NUMBER: N1046513 CHARITY REGISTRATION NUMBER: 102105 Glendurragh Childcare Services Limited Company Limited by Guarantee Unaudited Financial Statements 31 May 2023 THOMPSON ACCOUNTANCY Chartered accountants Bannagh Beg Kesh Co Fermanagh BT93 8BY
Glendurragh Childcare Services Limited Company Limited by Guarantee Financial Statements Year ended 31 May 2023 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
Glendurragh Childcare Services Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Reportl Year ended 31 May 2023 Tha trustees, who are slso the directors for the purposes of company law. present their report and the unaudited financial statements of the charity for the year ended 31 May 2023. Reference and administrative details Registered charity name Glendurragh Childcare Servitss Limited Charity registratlon number 102105 Company registration number N1046513 Principal office and registered Mantlin Road office Kesh Co Fermanagh BT93 1TU The trustees Mrs T Kerr Mrs K McDonagh Mr J Ellis Mrs D Gray Mrs L Simpson Company sécretary Ivlrs Kyrenia McDonagh Independent examlner Gary Thompson Bannagh Beg Kesh Co Fermanagh BT93 8BY Structure, governance and management Governlng document Glendurragh Childcare services Limited is a company limited by guarantee (Registration Number N10465131. The company is govemed by its Memorandum of Articles of Association. The company Is recognised as a charity by HMRC (ref XR67754).
Glendurragh Childcare Services Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (eontinuedj Year ended 31 May 2023 Structure, governance and management (continued) Governance Glendurragh Childcare Services Limited has a responsibility to conduct its business efficiently. The establishment of. and the strict adherence to sound financial management policies is an integral part of the organisation. The Board of directors and Management Committee are committed to establishing, maintaining and applying all necessary good practice to ensure that their duty of care to the management of finances of the organisation are fulfilled. The Board of direGtors are responsible for taking the strategic decisions of how the Charity will move forward and who also are responsible for appointments to the board. It is essential that Glendurragh Childcare Services Limited control all operational risks as far as is possible. This includes the participation of all those involved directly or indirectly with the banking arrangements for the organisation. Aiong with the financial systems of the organisation, this policy aims to detail responsibilities, rtsk management, internal controls, and audit requirements associated with the use of online banking. Objectives and activities Principal activity The objects of the Company shall be to enhance the development and education of young Ghildren by encouraging parentslguardians to understand and provided the needs of their children in North Fermanagh and its environs (the "area of benefit") by.. a) offering appropriate play facilities. with the right of parentslcarers to take responsibility for and to become involved in the activities of the Company. ensuring that the Company offers opportunities for all children regardless of religion. culture, race or means. b) Encouraging the study of the needs of such childen and their families and promoting public interest in and recognition of the needs of such children and their families in the local area, cl Providing the necessary facilities for the daily care, recreation and education of children during out of school hours and school holidays. d) Providing training for parents. volunteers and carers of children in child development, parenting and other appropriate recreational and educational subjects. The direct benefit which flows from Purpose:_ {al is to provide appropriate play facilities and equal opportunities to all children who use our centre. To encourage parents and carers to become involved in activities held within the centre. Direct benefit to all children regardless of religion, culture, raGe or means SO that they may have an opportunity to develop and enhance their education and social skills. To prepare the children for the transition to nursery school and then to primary school. The direct benefit which flow from Purpose Ib) is to encourage development and education to both childlparenucarer within the North Fermanagh area. To actively promote awareness to children and parentslcareers the importance of their child's needs during development to provide the best start in life and to encourage them to reach their full potential. The direct benefit which tlow from Purpose (c) is to ensure that we have facilities to provide care to children who attend primary school, during term and non term time. Provide a facility for the care of children during school holidays. A place in which they can meet socially to build on relations with their fellow peers To be actively involved in recreational and educational development. To build on their own of identity 50 that each child feels a sense of belonging and social inclusion within th&ir own community. The direct benefit which flow from Purpose (d) is to provide training for parents. volunteers and carers of children. To encourage parents, volunteers and careers of children to attend such training to further undersland the development needs of children and to raise awareness of meeting the child's social and emotional development. A private benefit to directors may arise from a programme of ongoing training In good governance etc Through this training directors gain skills and experience which are transferable to other settings These benefits are incidental and necessary to ensure the benefit is provided to our beneficiaries
Glendurragh Childcare Services Limited Company Limitsd by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnugd) Year ended 31 May 2023 Strategic report The following sections for achievements and performance and financial review form the strategic report of the charity. Achlevements and performance The charity continued to operate throughout the year and meet the objectives that it was set up to achieve as listed above. Financlal review Review of the Business The Company is non-profit making with a net deficrt of £36.870 for the year. The management continues to be engaged in ongoing efFiciency savings and is aware of the sustainable use of resources. Reserves Policy The trustees of Glendurragh Childcare Services Limited have set a reserves policy which require that reserves be maintsined at a level which ensures that the charity's core activity could continue during a period of unforeseen difficultly and to assist in the fijture strategic development of the organisation. The trustees have agreed that the Charity should endeavour to hold reserves at an amount not less than £50,000 in an effort to minimise the risks identified by the charity, Small company provisions Th15 report has been prepared in accordanGe with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report and the strategic report were approved on 3 November 2023 and signed on behalf of the board of trustees by.. Mrs T Kerr Trustee Mrs L Simpson Trustee
Glendurragh Childcare Services Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Glendurragh Childcare Services Limited Year ended 31 May 2023 I report to the trustees on my examination of the financial statements of Glendurragh Childcare Services Limited I'the chartty,) for the year ended 31 May 2023. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the .2008 Act.) and the Companie5 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 charity's financial statements a5 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 examinerfs statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 85 of the 2008 Act. I confirm that l am qualified to undertake the examination because l am a member of Chartered Accountants Ireland, which is one of the listed bodies, 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 nol kept in respect of the charity as required by section 386 of the 2006 Act, or the financial statements 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 fair, view which is not a matter considered as part of an independent ex8mination', or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by haritie5 applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102).
Glendurragh Childcare Services Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Glendurragh Childcare Services Lim Ited (continued) Year ended 31 May 2023 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. mpson ndependent Examiner Bannagh Beg Kesh Co Fermanagh BT93 8BY 3 November 2023
Glendurragh Childcare Services Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 May 2023 2023 Unrestricted funds Total funds 2022 Total funds Note Income and endowments Donations and legacies Charitable activities other Income 100 390,464 34,541 418,159 4,553 418,159 4,553 Totsl income 422.712 422.712 425,105 Expenditur8 Expenditure on charitable activitiès Total expenditure 459,582 459,582 420,869 459,582 459,582 420,869 Net lexpenditure)lincome and net movement in funds 136,870) (36,870) 4,236 Reconciliation of funds Total funds brought forward Total funds carried forward 85,564 48,694 85,564 48,694 81.328 85.564 The Statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activitt'es. The notes on pages 8 to 14 fomi part of these financlal ststements.
Glendurragh Childcare Services Limited Company Limited by Guarantee Statement of Financial Position 31 May 2023 2023 2022 Note Fixed assets Tangible Oxed assets 32,024 31,438 Current assets Debtors Cash at bank and in hand 6,983 15,451 22,434 13,953 45,510 59,463 Creditors: amounts falling due within one year Net current assets 5.764 5.337 16,670 54,126 85,564 Total assets less current liabilities 48,694 Funds of the charity Unrestricted funds 48,694 85,564 Total charity funds 11 48,694 85,564 For the year ending 31 May 2023 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 financlal statements for the year in question in accordance with section 476, The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the pParatIOn of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 3 November 2023. and are signed on behalf of the board by.. Mrs T Kerr Trustee Mrs L Simpson Trustee The notes on page5 8 to 14 fomi part of these financlal Statements.
Glendurragh Childcare Services Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 May 2023 General information The charity is a public benefit entity and a private company limited by guarantee. registered in Northern Ireland and a registered charity in Northem Ireland. The address of the registered office is Mantlin Road, Kesh, Co Fermanagh, BT93 1TU. Accounting pollcies Basis of preparation The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain financial assets and liabilities and investrnent properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of th8 entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncerta5nty Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purpose5. Desi9nated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fa51 into one of two sub-classes.. restrlGted income funds or endowment funds.
Glendurragh Childcare Services Limited Company Limited by Guarantee Notes to the Financial Statements {continuedJ Year ended 31 May 2023 Accounting policies (continued) Incoming resources All incoming resources are included In the ststemenl of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income-. income from donations or grants is recognised when there is evidence of entitlement to the gif( receipt is probable and its amount can be measured reliably legacy income Is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless thls is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value, Donated facilities and service5 are recognised in the accounts when received if the value can be reliably measured, No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contrdcted service. This is classified 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. Tangible assets Tangible assets are inits-ally recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated Impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognisod in other recognised gains and losses, except to which It offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activilies. Depreciation Depreclation is calculated so as to write off the cost or valuation of an asset, less its re5idu81 value. over the useful economic life of that asset as follows.. Plant and machinery Fixtures and fittings Motor vehicles 15 % reducing balance 15°/ts reducing balance 25 /0 reducing balance
Glendurragh Childcare Services Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 May 2023 Accountlng pollcies {contlnued) Impairment of fixed assets A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset Ss impaired accordingly Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of Impairment testing, when it is not Possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, 311ocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabililies of the chanty are assigned to those units. Government grants Government grants are recogni5ed at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognibon criteria, they are recognised as a Financial instruments A financlal asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are Initially recognised at the amount receivable or payable including any related transaction costs. Current assets and current liabililies are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impaiiment. 10
Glendurragh Childcare Services Limlted Company Limited by Guarantee Notes to the Financial Statements (continuod) Year ended 31 May 2023 Accountlng policies (continued) Financial instruments (continued) Other financial Instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value Df the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initi81 gain was recognised. For all equity instruments gardleSS of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. OEfined contrSbutlon plans Contributions to defined contributbon plans are recognised as an expense In the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date In which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the peiiod in which it arises. Charitable actlvitles Unrestricted Total Funds Unrestrfcted Total Funds Funds 2023 Funds 2022 Parental Fees 418,159 418,159 390,464 390,464 11
Glendurragh Childcare Services Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 May 2023 Other income Unrestricted Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank Interest Receivable Accounts Nl - Dept of Economy HMRC JRS Grant BSO - Milk Reifflbursement Claims WHSCT Covid Grants Early Years CRSF 99 4,000 99 4,000 140 140 3,075 898 794 9,300 20,334 3,075 898 794 9,300 20,334 34,541 166 288 166 288 4,553 4.553 34,541 Net (expenditure)lincome Net lexpenditure)lincome is stated after chargingl(crediting)'. 2023 2022 Depreciatson of tangible fixed assets 5,806 6,222 Independent examinatlon fees 2023 2022 Fees payable to the Independent examiner for. Independent examination of the financial statements 900 900 Tangible fixed assets Leasehold Plant and Fixtures and property machinery fittings Motor vehicles Total Cost At 1 June 2022 Additions 7,973 41,426 29,996 6,392 17,690 97,085 6,392 At 31 May 2023 Depreclatlon At 1 June 2022 Charge for the year At 31 May 2023 Carrying amount At 31 May 2023 At 31 May 2022 7,973 41,428 36,388 17,690 103,477 37,768 549 23,455 1,940 25,395 4,424 3,317 65,647 5,806 38,317 7,741 71,453 7,973 3,109 3,658 10,993 6,541 9,949 32,024 7,973 13,266 31,438 12
Glendurragh Childcare Services Limited Company Limited by Guarantee Notes to the Financial Statements {contihue Year ended 31 May 2023 Debtors 2023 2022 Trade debtors 6,983 13,953 Credltors. amounts falling due wlthin one year 2023 2022 Bank loans and overdrafts Trade cre(litors 655 4,682 5,764 5,764 5,337 10. Pensions and other post retirement benefits Defined contribution plans The amount recognised in Income or expenditure as an expense in relation to defined contribution plans was £5,28212022'. £4,960). 11. Analysis of charitable funds Unrestrlcted funds At 1 June 2022 At Income Expenditure 31 May 2023 General funds 85,564 422,712 {459,582) 48,694 At 1 June 2021 At Income Expenditure 31 May 2022 General funds 81,328 425,105 (420,869) 85.564 13
Glendurragh Childcare Services Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 May 2023 12. Analysls of net assets botween funds Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 32,024 22,434 {5,764) 48,694 32,024 22,434 (5,7641 48,694 Unrestricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Net assets 31,438 59,463 15,337) 85,564 31,438 59,463 (5,337) 85,564 14