COMPANY REGISTRATION NUMBER: N1046513 CHARITY REGISTRATION NUMBER.. 102105 Glendurragh Childcare Services Limited Company Limited by Guarantee Unaudited Financial Statements 31 May 2024 ps Chartered accountants 24 Main Street Kesh Co Fermanagh BT93 1TF
Glendurragh Childcare Services Limited Company Limitsd by Guarantee Financial Ststements Year ended 31 May 2024 Page Trustees, annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements
Glendurragh Childcare Services Limited Company Llmlted by Guaranteo Trustees, Annual Report (Incorporating the Directorfs Report) Year ended 31 May 2024 The trustees, who are also the directors for the purposes of c(xnpany law, present their report and the unaudited financial statam8nts of the charity for the year ended 31 May 2024. Reference and admlnlstrduve detsll¥ Reglstered charfty name Glendurragh Childcare Servkes Llmtted Charlty reglstratlon number 102105 Company reglstratlon number N1046513 Prlnclpal offlce and reglstorod Mantlln Road office Kesh Co Femanagh BT93 1TU The trustee8 rs E Boxer Mrs T Kerr Mr3 K McDonagh Mr J Ellis MrJ D Gray Mrs L Simp80n Mrs C McAleer Mr J Coalter (Appointed 30 April 2024) (Resigned 10 February 2025) (Reslgned 18 April 2024) (Appointed 30 April 2024) (Appointed 16 May 2024) Company Secretary Independant examlnar Mrs Kyrenla McDonagh Gary TIKThpson 24 Main Street Kesh Co Femianagh BT93 1TF Structurei governance and management Governlng document Glendurragh Childcare services Limlted Is 8 company limited by guarantee (Registratlon Number N1046513). The company is govemed by ts Memorandum of Artlcles of Associatlon. The company 18 recognised as a Charity by HMRC (ref XR6n54).
Glendurragh Childcare Services Limited Company Llmitsd by Guarantee Trusteés, Annual Report (Incorporating the Directorfs Report) (cmrflnu Year ended 31 May 2024 Structure, gov•mance and management (condnu•d) Governance Glendurragh ChikIca Services Limited has a responsibilty 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 eA)mmitted to estsblishing, maintaining and applying all necessary good praclice to ensure that their duty of care to the management of finances of the organisation are fulfilled. The Board of directors are responsible for taking the strategic decisions of how the Charity will move foDNard and who also are responsible for appointments to the board. It is essential that Glendurragh Childcare Services Llmfted control all operational risks as far a5 is possible. This includes the participation of all those invotved directly or indirectly with the banking arrangements for the organisation. Along Vth the financial systems of the organisation. this policy aim8 to detail responsibilrties, risk management, intemal controls, and audit requirements associated with the use of online banking. Objactlves and actlvttles Prlnclpal actlvlty The objects of the Company shall bè to enhance the developmant and education of young children by encouraging parentslguardians to undérstand and prowded the needs of thelr children in North Femianagh and its environs (the "afea of benefif.) by: a) offerlng approprlate play faciSities, wlth the right of parentslcarers to tske responslbilty for and to becorne Involved In the ackn'vities of the Company, ensuring that the Company offers opportunitles for all children regardless of religion. culture, race or means, b) Encouraging the study of the needs of such childen and their families and promotlng public Interest in and recognition of the needs of such children and their families in the local area. c) Providing the necessary facilities for the daily care, recreation and education of children during out of 8¢hool hours and school holidays. d) Providing training for parents, vdunteers and carers of chlldren in chlld development, parenting and other approprlate recreational arKI edUCatn81 subjects. The direct benefit whlch flcMA from Purpose:. (a) is to provide appropriate play facllitles and equal opportunities to all children use our centre. To encourage parents and carers to l)ecome involved in activitses held within the centre. Direct benefit to all Ghlldren regardle33 of rellglon, Gufture, race or meana 80 that they may have an opportunlty to develop and enhance their education and social skills. To prepare the chiklren for the transition to nursery school and then to primary school. The direct benefrt which flow from Purpose (b) is to encourage development and education to both ¢hildlparenVcarer within the North Fennanagh area. To actively promote awareness to children and parentslcareers the importance of their child's needs during development to provide the be8t start in Trfe and to courag8 them to reach their full potentlal. The direct benefrt which flow fr(Th Purpose (c) Is to ensure that we have facilities to provlde care to children who attend prirnary school, during temi and non tem time. Provide a facilty for the care of children durlng school holidays. A place In whlch they can meet socialty to bulld on relations 1th their fellow peers. To be activetry involved in recreational and educational development. To build on their own of identity 80 that each Child feels a sense of belonging and social inclusion within their own community. The direct benefrt %thich flow from Purpose (d) 18 to provide trainlng for parents, volunteer8 arKI carer3 of Children. To encourage parents, volunteers and careers of children to attend such training to further understand 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 prograrnme of ongoing training in good govemance etc. Through this training directors gain skills and experience %thich 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 Llmited by Guarantee Trustees. Annual Report (InGorporating the DireGtorfs Report) (contlnu Year ended 31 May 2024 Strateglc report The following sections for achievements and perfom)ance and financial review fomi the strategic report of the charity. Achlevements and performance The Charity contlnued to operate throughoui the year and meet the objectives that it vrns set up to achieve as listed above. Flnanclal revlew Revlew of tho Buslness The Company is non-profit making with a net deficit of £6,044 for the year. The management ¢ontlnue8 to be engaged in ongoing efficiency savings and is aware of the sustainable use of resources. Re8erve8 Pollcy The trustee8 of Glendurragh Chiklcare ServlGes Limited have set a reserves pollcy whlch requlr8 that reserves be maintained at a level which ensure8 that the Gharity8 core activlty Goukl contlnue durlng P8ri0d of unforeseen drfFicuttly and to assist in the future strategic development of the organlsatlon. The trust88s have agreed that the Charity should endeavour to hold reserv88 at an amount not le88 than £50,000 in an effort to minimlse the riskg Identifd by the charity. Small company provl8lon8 Thi5 report has been prepared in accordance with th6 provisions applicable to companie8 entitled to the small companies exemptlon. The trustees. annual report and the strategic report were approv1 on 18 February 2025 and Signed on behalf of the board of trustees by: Mrs K McDonagh Trustee Mrs L Simp80n Trustee
Glendurragh Childcare Services Limited Company Llmlted by Guarantee Independant Examlnorfs Report to the Trustees of Glendurragh Chlldcare Servlces Limited Year ended 31 May 2024 I report to the trustees on my examination of the financial ststements of Glendurragh Childcare Services Limited (Ihe chariv) for the year ended 31 May 2024. Responglbllitl•s and basls 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 financlal statements in accordance with the requirements of Charities Act (Northem Ireland) 2008 (the '2008 Act'} and the Companies Act 2006 (Yhe 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audlted and have chosen instead to have an independent examination. Having satisfied myself that tha accounts of the company are not required to be audrted under Part 16 of the 2006 Act and are èligible for independent èxamination. I report in respect of my 8xamination of the charivs financial statemants as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions gNen by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 ACL Independent •xamlnerf8 Statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 65 of the 2008 Act. I confirni that l am qualsfied to undertake the examination becau88 l am a member of Chartered Accountsnts Ireland, which is one of the listed bodies. I have completed my examinatlon. I confimi th8t no matters have come lo my attentlon In connectlon with my examination giving me cause to believe that in any material respect: accountlng records were not kept In respect of the charty as required by section 386 of the 2006 Act; or the financlal statements do not accord wlth those records; or the financial statents do not comply wlth the aCcntIng requlrements of sectlon 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which 18 not a matter consklered as part of an Irependent examination. or the financial statements have not been prepared in accordance with th8 methods and principles of the Statement of Recommended Practice for ac¢ounting and reporting by charities applicable to charitres preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland (FRS 102).
Glendurragh Childcare Services Limfted Company Llmlted by Guarantee Independent Examinerfs Report to the Trustees of Glendurragh Chlldcara Servlces Llmited {¢onAlnugd) Year ended 31 May 2024 I confimi that there are no other matters to which your attention should be dra%vn to enable a proper understandi of the accounts to be reached. ry Thompson Independent Examiner 24 Main Street Kesh Co Fennanagh BT93 1TF
Glendurragh Childcare Services Limited Company Llmited by Guarantee Statement of Flnancial Activitles (Including Income and expenditure account) Year ended 31 May 2024 2024 Unrestricted funds Total funds Total funds 2023 Noto Income and endowments Donations and legacies Charitable activities other income 500 465,546 10,741 476,787 500 465,546 10,741 476,787 418,159 4,553 422,712 Total Income Expendlture Expenditure on charitable activities Total fjxpendltur• 482,831 482.831 482,831 482,831 459,582 459,582 Net expendlture and not movement In funds (6,044) (6,044) (36,870) Reconclllatlon of funds Total funds brought forward Total fund8 carrled fOard 48,694 42,650 48,694 42.650 85.564 48,694 The Statement of financial activltles includes all gains and losses recognised In the year. ASI Income and expenditure derive from continuing activities. The note8 on pages 8 to 14 fomi part of these flnanclal statemants.
Glendurragh Childcare Services Limited Company Llmited by Guarantee Statsment of Flnancial Position 31 May 2024 2024 2023 Noto Flxed assets Tangible red assets 27,694 32,024 Current assets Debtors Cash at bank and in hand 1,713 19,066 20,779 6,983 15,451 22,434 Credltors: amounts falllng duo wlthln one year Net current assets Total assets less current Ilabllltles 5.823 14,956 42,650 5.764 16,670 48,694 Funds of the charlty Unrestrlded funds Total Gharlty funds 42,650 42,650 48,694 48,694 11 For the year ending 31 May 2024 the charity wa8 entitled to exemption from audtt under sectSon 477 of the Companies Act 2006 relating to small companies. DSrectors' responsibilities: The members have not requlred the company to obtain an audii of itg financial 8tatement8 for the year in que8tion in accordance with sectlon 476: The directors acknowledge their responsibilrttes for complylng wlth the requlrements of the Act wlth re8pect to aGcountlng rec(xd8 and the preparatlon of financlal statements. These financial statements have been prepared In accordance with the pr*)Vi8ion8 applicable to companies subject to the sm811 companies, regime. These financial ststements were approved by the board of trustees and authorised for Issue on 18 February 2025, and are Signed on behalf of the board by.. Mrs K MGDonagh Trustee Mrs L Simpson Trustee The notss on page8 8 to 14 fomi part of th889 flnanelal Statsments.
Glendurragh Childcare Services Limited Company Llmlted by Guarantee Notss to the Flnancial Ststements Year ended 31 May 2024 General Infomiatlon The charty 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. Accountlng pollcles Basls of preparatlon The flnancial statements have been prepared on the historical cost basis, as modffied by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The flnancial statements are prepared in sterllng, which 18 the functional currency of the entty. Golng concern There are no materlal uncertaintles about the charrtys ability to contlnue. Judgemants and key sources of éstlmatlon uncertalnty Estimates and judgements are continually evaluated and are based on historical experlence and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unréstricted funds are avallable for use 8t the dlscretlon of the trustees to further any of the charitys purpose8. Deslgnated fund8 are unre8trlcted fund8 eamarked by the trustees for partlcular future project or commitment. Restricted funds are subjected to regtrictlons on their expenditure declared by the donor or through the tems of an appeal, and fall into one of two SUIasseS. restricted Income funds or endowment funds.
Glendurragh Childcare Services Limited Company Llmlted by Guarantee Notes to the Financial Statements l¢onthuedJ Yoar ended 31 May 2024 Accountlng pollcles (contlnued) Incomlng resourcos All incoming resources are included in the statement of financlal a¢tivttles whan entitlemént has passed to the Charity: it is probable that the economic benefrts associated with the transactlon will flow to the charty and the amount can be reliably measured. The following specific policies arg applied to particular categories of income. income from donations or grants is recognised when there is eviden of entitlement to tha gift, recelpt is probable and its amount can be measured reliably. legacy Income is recognised when receipt Is probable and entitlement is establkshed. income from donated goods Is measured at the f8lr value of the goods unless thi8 18 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 seNices are recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the contrlbution of general volunteers. Income from contracts for the supply of s&rvices Is recognised with the delNery of tha contracted sen4i¢e. This Is classified as unrestricted funds unless there is a contractU81 requirement for it to be spent on a particular purpose and retumed rf unspent, in which ca8& It may be regarded 88 restrlcted. Tanglble as88ts Tangible assets are Inltlalty recorded at cost, and subsequently gtated at cost l•¥s any accumulated depreciation and impairynent losses. Any tsngible assets carried at revalued amounts are recorded at the fair value at the date of revaluation les8 any subsequent accumulated depreciatlon and subsequent accumulated Impalrment losses. An Increase in the carrying amount of an asset as a re8uIt of a revaluation. Is recognised in other recognised gains and losses, unless it reverses a charge for impaitment that ha8 previously been recognised as expendkture within the statement of financial activities. A decrease in the carrying amount of an asset as a resuli of revaluation, is recognised in other rQgnIsed gains and losses. except to which jt offsets any previous revaluation gain, in vthich case the loss is shown within other reco3ni8ed galns and losses on the slatement of financl81 actlvltles. DeprnGlatlon Depreclation is calculated so as to wrrta off the cost or valuation of an a880t, le88 its re8idual value, over the useful economic lrfe of that asset as follows: Plant and machlnery Fixtures and fittings Motor vehlcles 15% reduclng balance 15°A reduGing balance 250A reducing balance
Glendurragh Childcare Servlces Limited Company Limitsd by Guarantee Notes to the Flnancial Statements leonrfnu Year ended 31 May 2024 Accountlng poli¢Ses (conllnu•d) Impalrment of flxed assets A review for indicators of impaiment is carrted out at each reporting date, Imth the recoverable amount being estimated there such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingty. Prior impaimients 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 8mount of an indmdual asset, an estimate Is made of the recover8ble amount of the cash- generating unlt to which the asset belongs. The Cashenerating unit is the smallest identifiable group of assets that Include8 the asset and generates rAsh inflows that largely independent of the cash inflows from other a88et8 or groups of assets. For Impalment testing of goodwil( the goothvill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating unrts that are expected to benefit from the synergie8 of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those unlts. Government grants Govemment grants are recognised at the fair value of th8 asset received or receivable, Grants are not racognised until there is reasonable assurance that the charity will comply wlth tha conditions attaching to them and the grants will be received. Where the grant does not impose Spffied future perfomance-related condStlons on the recipient, st is recognised in incorne when the grant proceed8 are received or receivablé. Wh6r¢ the grant doe8 impose Specified future perforniance-related condstions on the recipient, it is recognised in income only when the perforn)ance-related Conditions have been m8t. Wh8r8 grants receNed are prior to satisfying the revenue recognition Criteria, they are recognisad as a liabilty. Flnanclal Instruments A financial a88et or a financial liabilty 18 recognised only when the ¢haTY bocomo8 a party to tha contractual provisions of the Instrumant. Basic fin8nci81 instnjments are inltially recognlsed at the amount receivable or payable including any related transaction Costs. Current assets and current Ilabilrties are subsequentty measured al the cash or other consideration expected lo be paid or re¢eived and not dlscounted. Debt instruments are Subsequently measured at amortisad cosL Where Investments In shares are publlcly traded or their fair value can othetwlse be maasur6d reliably, the investment is subsequentty measured at fair value with changes in fair value recognised in income arKI expenditure. All other such investments are sthsequently measured at cost less impairment. 10
Glendurragh Childcara Services Llmited Company Llmlted by Guarante8 Notes to the Financial Statements l¢onflnued) Year ended 31 May 2024 Accountlng pollcies f¢onlhiu•dJ FlnanGlal Instruments (condnuodj Other financial instruments. including derivatives, are initially recognised at fair value, unle8S payment for an asset is deferred beyond nomal 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 of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequenty measured at fair value. Wbth any changes recognised in the ststement of financial activities, with the exception of hedging instrumants in designated hedging relationship. Flnancial assets that are mèasured at cost or amortised cost are reviewed for objective evidence of impalmient at the end of each reporting date. If there is objective evidence of impaiment, an Impalrment loss Is recognisod under the approprlate heading in the statement of financial activities in which th& initial gain was recognised. For all equity instruments resardla88 of signrficAnce, and other financial assets that are individualty significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk charaGteri8tiC8. Any reversals of ImpaSnnent are recognised immediatety, to the extent that the reversal does not result in a Garrying amount of the financlal asset that exceeds what the carrylng amount would have been had the impaimient not previously been recognised. Deflned ¢ontrlbutlon plan8 Contrlbutions to defined contribution plans are recognl$ed as an expense Sn the perEod In whlch the related service is provided. Prepaid contributions are recognised 88 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 ernployees render the related service. the liabilty is measured on a dlscounted present value basis. The unwinding of the discount is recognised as an expense in the perlod In whlch tt arlses. Charltable a¢tfvit108 Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Parental Fees 465.546 465.546 418,159 418,159 11
Glendurragh Childcare Services Limited Company Llmited by Guarantee Not8s to tha Financlal Statements {conllnuedJ Year ended 31 May 2024 Other Income Unrestricted Totsl Funds Unrestricted Total Funds Funds 2024 Funds 2023 Fundraising Events Bank Interest Receivable Accounts Nl - Dept of Economy Communty Foundation BSO - Milk Reimbursement Claims South West College WHSCT 5,076 23 5,076 23 99 4.000 99 4,000 1,500 203 3.939 1,500 203 3.939 166 166 288 288 10,741 10,741 4,553 4,553 Net expendlturn Net expenditure is stated after chwgingl(er•dittng): 2024 2023 Depreciatlon of tanglble fixed assets 5,359 5,806 Independent oxamlnatlon foo8 2024 2023 Fees payable to the Sndependent examiner for. Independent examination of the financial stst8ments 900 900 Tanglble flxed assets Leasahold Plant and Flxtures and property machinery frttlngs Motor vehlcles Total Cost At 1 June 2023 Additions 7,973 41,426 36,388 1,029 37.417 17,690 103,477 1,029 104,506 At 31 May 2024 Depraclatlon At 1 June 2023 Charge for thé year At 31 May 2024 Carrylng amount At 31 May 2024 At 31 May 2023 7.973 41,426 17,690 38,317 25,395 2,405 7,741 2,488 71,453 5.359 38.783 27,800 10,229 76.812 7,973 7.973 2.643 9,617 10,993 7.461 27.694 3,109 9.949 32,024 12
Glendurragh Childcare Services Limited Company Limited by Guarantee Notes to the Financlal Ststsments (conunutdj Yoar ended 31 May 2024 Debtors 2024 2023 Trade debtor8 1.713 6,983 Credltors: amounts falllng due wfthln one yoar 2024 2023 Trade creditors 5.823 5,764 10. Penslons and other post retlrement beneflts Deflned contrfbutlon plans The amount recognlsed in Income or expenditure as an expense In relation to defined contribution plans was £5,774 {2023: £5,282). 11. Analys18 Qf charltable funds Unrestrlcted funds Al 1 June 2023 At Incomo Expendlture 31 May 2024 476,787 (482,831) General funds 48,694 42,650 At 1 June 2022 At Income Expenditure 31 May 2023 422,712 General funds (459,582) 48.694 13
Glendurragh Childcare Services Limited Company Limited by Guarantee Notes to the Flnancial Statements (eontlnued) Year ended 31 May 2024 12. Analysls of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 27,694 20.779 (5,823) 42.650 27,894 20,779 (5,823) 42,650 Unrestricted Total Funds Funds 2023 T8nglble fixed asset8 Current assets Creditors less than 1 year Net a88ets 32,024 22.434 {5,764) 48,694 32.024 22,434 (5.764) 48,694 14