**Gortnaghey Community Association**
**Charity Number: NI102242**
**Company No. NI56271**
**Trustees' report and Unaudited Accounts for the year ended February 28[th] 2025**
**Gortnaghey Community Association**
## **Contents**
||**Page**|
|---|---|
|Trustees' report|**2-5**|
|Independent Examiners Report|**6**|
|Statement of financial activities|**7**|
|Balance sheet|**8**|
|Notes to the financial statements|**9-17**|
1
**Gortnaghey Community Association**
## **Trustees Annual Report (including Directors’ Report)**
## **Information Page**
**Company Information Principal and Registered Office**
**Directors and Trustees**
**Company Secretary**
**Accountants**
Company No: NI056271 Charity No. NI102242 81 Gortnaghey Road Gortnaghey Dungiven BT47 4PZ Liam Burke Carmel Hogan – Resigned 17.08.2025 Sarah McManus Nolene Burke Eugene McManus Georgina McVey – Appointed 10.10.2025 Eithne Burke MKP Accountants Ltd 2[nd] Floor Gortalowry House 94 Church Street Cookstown BT80 8HX
**Bankers**
Ulster Bank 83 Main Street Dungiven BT47 4LE
2
**Gortnaghey Community Association**
## **Trustee’s Report (including Directors’ Report) For the year ended February 28[th] 2025**
The trustees who are also directors of the company for the purposes of the Companies Act 2006, present their annual report and accounts for the year ended February 28[th] 2025.
The information with respect to trustees, directors, officers and advisers set out on the information page, forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association, applicable Accounting Standards in the United Kingdom and the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities”, (FRS 102).
## **Reference and Administration Details**
Gortnaghey Community Association is a charitable company limited by guarantee, incorporated on 18th August 2005. It is registered with the Company's Registrar under registration number NI056271. It is also registered as a charity with the Charity Commission NI, NIC102242. The trustees and secretary of the charity are listed on the information page. The principal and registered office of the charity are also listed on the information page together with the details of the professional advisors and bankers.
## **Risk Management**
The directors in conjunction with the management team, have reviewed the risks to which the charity is exposed and have established systems and procedures to mitigate those risks.
## **Objectives and Activities**
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission guidance on public benefit.
The principal activity of the company is to promote the benefit of the inhabitants of the area of Gortnaghey and it's environs without distinction of sex, race or political, religious or other opinions by associating with the statutory authorities, voluntary organizations and inhabitants in a common effort to relieve poverty, advance education, preserve and protect health and provide facilities in the interest of social welfare for recreation and other leisure time occupations with the object of improving conditions of life for the said inhabitants.
The company operates a community centre for use by all groups in the community. It provides a range of educational and recreational classes. The company holds weekly social events for the elderly, a youth club for the young people of the area and Mother and Toddlers Events. It provides computer and photocopying service and acts as a signpost for other services. It provides access to an outdoor recreational/sporting facility for all members of the community, which consists of a play-park, walkway, 3G pitch and green space. It provides opportunities for people to get involved in volunteering and it has annual seasonal and outdoor events to bring the community together. Local community groups are our main users, plus Sure Start and the Rural Women’s Network.
## **Achievements and Performance**
Our outdoor facilities continue to be a very popular destination for visitors, plus this boosts the hire demand on the Centre for children’s birthday parties. We continue to work in partnership with neighbouring Burnfoot in sharing resources and a caretaker thanks to funding from The National Lottery’s 3 year grant. Plans for the construction of a permissive path to connect the village and local GAC grounds are still in progress, although we failed to get the consent of all the landowners and lost out on a funding opportunity, we have now taken a different course of action and are working with local representatives to push this project through with DFI, which will be a longer process. The Limavady Children Team of Western Trust have been using our vacant unit for contact services since July 2024. Resurfacing work was carried out in 2 areas of the Park this year, which has seen the existing park bark areas recovered with a cleaner more sustainable play surface. Weekly classes of Yoga and Chair Aerobics have continued. Discussions continue with a local landowner regarding the purchase of additional land to the rear of the Centre on which we can do an extension for units to let.
3
## **Gortnaghey Community Association**
## **Trustee’s Report (including Directors’ Report) For the year ended February 28[th] 2025**
……Continued
## **Financial Review**
The statement of financial activities for the year is set out on page 7 of the financial statements. A summary of the financial results of the charity is set out below:
|Overall Summary
Incoming Resources
Total Resources Expended
Surplus/(Deficit) for the Period
|**£**
57,865
(119,854)|**£**
57,865
(119,854)|
|---|---|---|
||
|
(61,989)|
## **Reserves Policy**
The charity's policy on restricted funds is to separately record donations, grants and other sources of funding where restrictions are imposed on their use by the donor. The trustees have established a policy (which will be reviewed on an annual basis) whereby the unrestricted funds not committed or invested in tangible fixed assets or designated for specific purposes ("the free reserves") held by the charity should equate to approximately six months of the resources expanded. In additions to this the trustees set a target of £10,000 to be held as a reserve to ensure that there are sufficient funds to keep the property in good repair and to cover estimated redundancy costs. This equates to £48,150 in general funds. At this level, the trustees consider that they would be able to continue the current activities of the charity in the event of a significant drop in income. It would also be necessary to consider how that income would be replaced. At the balance sheet date free reserves, which amount to £15,230 (£247,726 less £232,496 re tangible fixed assets) did not exceed the minimum target level. The trustees hope to use these funds to assist with the land purchase and proposed extension to the Community Centre for units to let, which will help with sustainability.
## **Plans for Future Periods**
In the present economic climate, it is the company's intention to maintain and develop its current activities. The company will continue to seek opportunities to expand in the areas which are compatible to the ethos and objectives of the company. We are currently working with Causeway Coast and Glens on a project, which if successful will see the construction of permissive pathway, which will link the village with the GAC grounds. The National Lottery funding for the Enriching Rural Communities, a joint project with neighboring Burnfoot was successful with their second application and commenced in September 2024.
## **Structure, Governence and Management**
Gortnaghey Community Association is a company limited by guarantee and registered as a charity with the Charity Commission N.I.. In terms of company law, charity law and day to day activities, the company is an independent entity. The trustees meet regularly to direct the operations of the charity. The charity has 2 part time employees.
An Annual General Meeting is held every year, and a panel comprising of existing trustees nominates individuals for the Board. Trustees serve for a one year period and may be re-elected for further one year periods. The trustees who served during the year ended February 28[th] 2025 are listed on the information page.
## **Changes in Fixed Assets**
The movements in fixed assets during the year are set out in the notes to the financial statements.
## **Taxation**
As a charity, the company is not liable for corporation tax on its other income or on capital gains to the extent that these are applied to its charitable objectives.
4
## **Gortnaghey Community Association**
## **Trustee’s Report (including Directors’ Report) For the year ended February 28[th] 2025**
……Continued
## **Statements of Trustees Responsibilities in respect of the Annual Report and the Financial Statements**
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
- select suitable accounting policies and apply them consistently,
-
- observe methods and principles of the charities SORP,
- state whether applicable UK Accounting Standards have been followed, subject to any material departure disclosed and explained in the financial statements,
- and prepare the financial statements of the going concern basis unless it is appropriate to presume that the company will continue in the business.
## **In Gratitude**
The trustees wish to convey their sincere thanks to the many volunteers and staff who have so generously given their support to the charity. With their support the trustees look forward to continuing to enhance the delivery of charitable services of the company. We also wish to offer thanks to the many funders who have supported our projects throughout the year.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).
This report was approved by the trustees on November 3rd 2025 and signed on their behalf by:
Nolene Burke
Trustee
5
## **Gortnaghey Community Association**
## **Independent examiner’s report to the trustees of Gortnaghey Community Association**
I report to the charity trustees on my examination of the financial statements of Gortnaghey Community Association for the year ended February 28[th] 2025 which comprise the Statement of Financial Activities and Summary Income and Expenditure Account, the Balance Sheet and the related notes.
## **Respective Responsibilities of the Trustees and the Examiner**
As the charity trustee's (and also directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:
- examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
- follow the procedures laid down in the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
- state whether particular matters have come to my attention
## **Basis of Independent Examiners’ Report**
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 65 (9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
- 1) that accounting records where not kept in accordance with section 386 of the Companies Act 2006
- 2) the accounts do not accord with those accounting records
- 3) that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities
preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
- 4) that there is further information needed for a proper understanding of the accounts to be reached.
## **Independent Examiner’s Statement**
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and in connection with following the directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
Paul McKillop F.C.C.A MKP Accountants Ltd 2[nd] Floor Gortalowry House 94 Church Street Cookstown BT80 8HX
November 3rd 2025
6
## **Gortnaghey Community Association**
## **Statement of financial activities (incorporating summary income and expenditure account) for the year ended February 28[th] 2025**
|**Notes**
**Income from:**
Charitable activities
**3**
**Expenditure on:**
Charitable activities
**4**
**Total Expenditure**
Net gains on investments
**Net income/(expenditure)**
Transfers between funds
**Net income/(expenditure)**
**before other gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2025**
**£**
45,855
45,855
69,555
69,555
-
(23,700)
-
(23,700)
-
(23,700)
321,426
297,726|**Restricted**
**funds -**
**revenue**
**2025**
**£**
8,306
8,306
18,094
18,094
-
(9,788)
2,010
(7,778)
-
(7,778)
11,522
3,744|**Restricted**
**funds -**
**capital**
**2025**
**£**
3,704
3,704
32,205
32,205
-
(28,501)
(2,010)
(30,511)
-
(30,511)
222,809
192,298|**Total**
**funds**
**2025**
**£**
57,865
57,865
119,854
119,854
-
(61,989)
-
(61,989)
-
(61,989)
555,757
493,768|**Total**
**funds**
**2024**
**£**
72,619|
|---|---|---|---|---|---|
||||||72,619
98,176|
||||||98,176
-|
||||||(25,557)
-|
||||||(25,557)
(30)|
||||||(25,587)
581,344|
||||||555,757|
There are no recognised gains or losses other than the net movement in funds for the above two financial years.
All of the above amounts related to continuing activities.
**The notes on pages 9 to 17 form an integral part of these financial statements**
7
## **Gortnaghey Community Association**
**Balance sheet As at February 28[th] 2025**
|**Fixed Assets**
**Notes**
Tangible Assets
**5**
**Current Assets**
Debtors
**6**
Cash at bank and in hand
**Creditors:**Amounts falling due within one year
**7**
**Net current assets**
**Total net assets**
**The funds of the charity**
**Restricted funds**
**8**
Capital grants
Revenue
**Unrestricted funds**
**8**
General funds
**Total funds**|**2025**
**£**
424,794
424,794
5,473
67,206
72,679
(3,705)
68,974
493,768
192,298
3,744
196,042
297,726
493,768|**2024**
**£**
463,873|
|---|---|---|
|||463,873
4,909
91,210|
|||96,119
(4,235)|
|||91,884|
|||555,757|
|||222,809
11,522|
|||234,331
321,426|
|||555,757|
These accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the year ended 28 February 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The financial statements were approved and authorised for issue by the board on November 3rd 2025 and signed on its behalf by:
Nolene Burke Trustee
**Company No. NI056271**
8
**The notes on pages 9 to 17 form an integral part of these financial statements**
## **Gortnaghey Community Association**
## **Notes to the financial statements for the year ended February 28[th] 2025**
## **1 Accounting policies**
The following accounting policies have been applied consistently in dealing with items, which are considered material in relation to the company's accounts
## **Basis of preparation**
The accounts have been prepared in accordance with the historical cost convention and comply with financial reporting standards of the Accounting Standards Board and the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) and in accordance with the Charities Act (Northern Ireland) 2008 and Companies Act 2006 and UK GAAP as it applies from 1 January 2015. Assets and Liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The financial statements are presented in sterling which is the functional currency of the charity. The Financial Statements Comply with SORP (FRS 102).
## **Change in basis of accounting or to previous accounts**
There has been no change to the accounting policies (valuation rules and method of accounting) since last year and no changes have been made to accounts for previous years.
## **Fund accounting**
|**Fund accounting**||
|---|---|
|Unrestricted funds|These are available for use at the discretion of the trustees in furtherance of the general|
||objects of the charity.|
|Designated funds|These are unrestricted funds earmarked by the trustees for particular purposes.|
|Restricted funds|These are available for use subject to restrictions imposed by the donor or through|
||terms of an appeal.|
|**Income**||
|Recognition of income|Income is included in the statement of Financial Activities (SoFA) when the charity|
||becomes entitled to, and virtually certain to receive, the income and the amount of the|
||income can be measured with sufficient reliability.|
|Income with related|Where income has related expenditure the income and related expenditure is reported|
|expenditure|gross in the SoFA.|
|Donations and|Voluntary income received by way of grants, donations and gifts is included in the|
|legacies|SoFA when receivable and only when the charity has unconditional entitlement to the|
||income.|
|Tax reclaims on|Income from tax reclaims is included in the SoFA at the same time as the gift/donation|
|donations and gifts|to which it relates.|
|Donated services|These are only included in income (with an equivalent amount in expenditure) where|
|and facilities|the benefit to the Charity is reasonably quantifiable, measurable and material.|
|Investment income|This is included in the accounts when receivable.|
## **Expenditure**
|Recognition of|Expenditure is recognised on an accrual basis|
|---|---|
|expenditure||
|Expenditure on|These comprise the costs associated with attracting voluntary income, fundraising|
|raising funds|trading costs and investment management costs.|
|Expenditure on|These comprise the costs incurred by the Charity in the delivery of its activities and|
|charitable activities|services in the furtherance of its objects, including the making of grants and governance|
||costs.|
9
Other expenditure
These are support costs not allocated to a particular activity. **Gortnaghey Community Association**
**Notes to the financial statements for the year ended February 28[th] 2025**
……Continued
## **Taxation**
The company has charitable status within the meaning of Section 506(1) Income and Corporation Taxes Act 1998 and as such its activities are outside the scope of Corporation Tax.
## **Tangible fixed assets and depreciation**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life:
Freehold property 2% Straight Line Plant & Machinery 10% Straight Line Fixtures & Fittings 20% Straight Line
All fixed assets are recorded at cost.
The carrying value of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.
## **Grants**
Grants that relate to specific capital expenditure are credited to restricted incoming resources when receivable. Depreciation on the fixed assets purchased with such grants is charged against the restricted fund. Revenue grants are credited to the statement of financial activities in the year which they fall due.
## **Trade and other debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **Cash and cash equivalent**
Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less and bank overdrafts. In the statement of financial position, bank overdrafts are shown within borrowings or current liabilities.
## **Trade and other creditors**
Short term creditors are measured at the transaction price. Other creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provision are normally recognised at their settlement amount after allowing for any trade discounts due.
## **Going concern**
The Trustees have considered the effect of the cost of living crisis on the Charity and its ability to meet its working capital requirements. Having considered all matters the Trustees believe that there are no material uncertainties about the charity’s ability to continue.
10
## **Gortnaghey Community Association**
## **Notes to the financial statements for the year ended February 28[th] 2025**
……Continued
## **2 Statement of Financial Activities – prior year**
|**Income from:**
Charitable activities
**Expenditure on:**
Charitable activities
**Total Expenditure**
Net gains on investments
**Net income/(expenditure)**
Transfers between funds
**Net income/(expenditure)**
**before other gains/(losses)**
**Other gains and losses:**
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**funds**
**2024**
**£**
49,919
49,919
49,639
49,639
-
280
-
280
-
280
321,146
321,426|**Restricted**
**funds -**
**revenue**
**2024**
**£**
22,700
22,700
15,138
15,138
-
7,562
-
7,562
-
7,562
3,960
11,522|**Restricted**
**funds -**
**capital**
**2024**
**£**
-
-
33,399
33,399
-
(33,399)
-
(33,399)
(30)
(33,429)
256,238
222,809|**Total**
**funds**
**2024**
**£**
72,619|
|---|---|---|---|---|
|||||72,619
98,176|
|||||98,176
-|
|||||(25,557)
-|
|||||(25,557)
(30)|
|||||(25,587)
581,344|
|||||555,757|
11
## **Gortnaghey Community Association**
## **Notes to the financial statements for the year ended February 28[th] 2025**
……Continued
## **3 Income from charitable activities**
|Classes, Fundraising & Donations
Causeway Coast & Glens Borough Council
Coast Active Living Grant
Community Foundation - Northern Ireland
Altahullion Windfarm Limited
Hire of Hall
Rent of Unit
National Lottery Community Fund
Hire of Gym/3G Pitch
DAERA-Rural Micro Capital Grant Scheme
Dungiven Parish Missionary Outreach Trust
Public Health Agency
SSE Renewables Community Fund|**Unrestricted**
**funds**
**£**
11,123
-
-
-
15,358
11,330
5,082
-
2,962
-
-
-
-
45,855|**Restricted**
**funds -**
**revenue**
**£**
-
6,125
200
-
-
-
-
981
-
-
-
-
1,000
8,306|**Restricted**
**funds -**
**capital**
**£**
-
-
-
-
-
-
-
-
3,704
-
-
-
3,704|**Total**
**funds**
**2025**
**£**
11,123
6,125
200
-
15,358
11,330
5,082
981
2,962
3,704
-
-
1,000
57,865|**Total**
**funds**
**2024**
**£**
9,409
5,000
-
-
28,961
5,379
3,783
4,500
2,387
-
500
3,700
9,000
72,619|
|---|---|---|---|---|---|
Revenue restricted funds in the 2024 year included incoming resources from Causeway Coast & Glens Council (£5,000), National Lottery Community Fund (£4,500), Dungiven Parish Missionary Outreach Trust (£500), Public Health Agency (£3,700) and SSE Renewables Community Fund (£9,000).
There were no Capital grants included in incoming resources in the 2024 year. All other amounts received in the 2024 year were unrestricted funds.
12
## **Gortnaghey Community Association**
## **Notes to the financial statements for the year ended February 28[th] 2025**
……Continued
## **4 Expenditure on charitable activities**
|**_Expenditure on charitable activities_**
Heat & Light
Insurance
Consultancy Fees
Telephone
Wages
Postage & Stationery
Water Rates
Accountancy Fees
Event Expenses
Repairs & Renewals
Cleaning Expenses
General Expenses
Legal Expenses
Depreciation - Fixtures & Fittings
Depreciation - Plant & Machinery
Depreciation - Freehold Property|**Unrestricted**
**funds**
**£**
7,014
3,124
840
700
17,922
48
618
246
3,528
22,491
347
368
960
246
5,815
5,288
69,555|**Restricted**
**funds -**
**revenue**
**£**
-
2,000
-
-
-
366
-
1,500
6,800
7,428
-
-
-
-
-
-
18,094|**Restricted**
**funds -**
**capital**
**£**
-
-
-
-
-
-
-
-
-
-
-
-
-
2,368
27,114
2,723
32,205|**Total**
**funds**
**2024**
**£**
7,014
5,124
840
700
17,922
414
618
1,746
10,328
29,919
347
368
960
2,614
32,929
8,011
119,854|**Total**
**funds**
**2023**
**£**
5,563
4,766
-
707
14,218
173
587
1,640
12,454
11,893
304
305
-
3,845
33,710
8,011
98,176|
|---|---|---|---|---|---|
Revenue restricted funds in the 2024 year included charitable expenditure on Insurance (£2,000), Accountancy Fees (£1,500), Event Expenses (£6,706) and Repairs & Renewals (£4,932)
Capital Grants restricted funds in the 2024 year included charitable expenditure on Depreciation of Fixtures & Fittings (£3,558), Plant & Machinery (£27,118) and Freehold Property (£2,723). All other expenditure in the 2024 year was from unrestricted funds.
13
## **Gortnaghey Community Association**
## **Notes to the financial statements for the year ended February 28[th] 2025**
……Continued
## **5 Tangible fixed assets**
|**Cost or revaluation**
At March 1st 2024
Additions
At February 28th 2025
**Depreciation and impairment**
At March 1st 2024
Depreciation charge for the year
At February 28th 2025
**Net book values**
At February 28th 2025
At February 28th 2024|**Land &**
**Buildings**
**£**
429,357
-
429,357
132,182
8,011
140,193
289,164
297,175|**Plant &**
**Machinery**
**£**
573,024
-
573,024
411,597
32,929
444,526
128,498
161,427|**Fixtures**
**&**
**Fittings**
**£**
67,641
4,475
72,116
62,370
2,614
64,984
7,132
5,271|**Total**
**£**
1,070,022
4,475|
|---|---|---|---|---|
|||||1,074,497|
|||||606,149
43,554|
|||||649,703|
|||||424,794|
|||||463,873|
The cost of tangible assets (whether acquired or self constructed) comprises of purchase price (after deduction of trade discounts and rebate) and any costs directly attributable to bringing them into working condition for their intended use.
|**6**
**Debtors**
Sundry debtors and Prepayments
CC&G Borough Council Grants
DAERA Rural Micro Capital Grant
Big Lottery Fund
Public Health Agency Clear Project Grant|**2025**
**£**
3,092
-
1,766
615
-
5,473|**2024**
**£**
3,294
875
-
-
740|
|---|---|---|
|||4,909|
14
## **Gortnaghey Community Association**
## **Notes to the financial statements for the year ended February 28[th] 2025**
……Continued
## **7 Creditors: amounts falling due within one year**
|Sundry Creditors and Accruals
Other taxes and social security|**2025**
**£**
3,705
-
3,705|**2024**
**£**
4,235
-
4,235|
|---|---|---|
## **8 Movement in funds**
|**Restricted funds:**
**Capital Grants**
Big Lottery Fund
Outreach Trust
Community Foundation
SSE Airtricity Community Fund
Big Lottery Fund
The Challenge Fund
DAERA Rural Micro Capital Grant
Causeway Coast Covid Response
Slieve Kirk Wind Park Community
Dunamore Windfarm
Rural Development Council
Rural Development Programme
Department for Communities Small
Capital Grant|**At**
**March**
**1st 2024**
**£**
91,202
50
1,445
1,018
1,000
735
2,217
1,016
4,100
2,010
24,000
90,000
4,016
222,809|**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
-
-
-
-
-
-
3,704
-
-
-
-
-
-
3,704|**Resources**
**expended**
**£**
(2,723)
(50)
(744)
(1,018)
(1,000)
(735)
(889)
(508)
(900)
-
(4,800)
(18,000)
(838)
(32,205)|**Gross**
**transfers**
**£**
-
-
-
-
-
-
-
-
-
(2,010)
-
-
-
(2,010)|**At**
**February**
**28th 2025**
**£**
88,480
-
701
-
-
-
5,032
507
3,200
-
19,200
72,000
3,178
192,298|
|---|---|---|---|---|---|
15
## **Gortnaghey Community Association**
## **Notes to the financial statements for the year ended February 28[th] 2025**
……Continued
|**Restricted income funds:**
Causeway Coast & Glens Borough
Council
COAST Active Living Grant
Dunmore Windfarm
Public Health Agency Clear Project
National Lottery Community Fund
SSE Airtricity Community Fund
**Total**
**Unrestricted funds:**
General funds
Designated funds
Revaluation Reserves:
**Total funds**|**At**
**March**
**1st 2024**
**£**
-
-
-
1,500
2,340
7,682
11,522
321,426
555,757|**Incoming**
**resources**
**(including**
**other**
**gains/losses)**
**£**
6,125
200
-
-
981
1,000
8,306
45,855
57,865|**Resources**
**expended**
**£**
(5,995)
(200)
(2,010)
(1,500)
(3,321)
(5,068)
(18,094)
(69,555)
(119,854)|**Gross**
**transfers**
**£**
-
-
2,010
-
-
-
2,010
(50,000)
50,000
-|**At**
**February**
**28th 2025**
**£**
130
-
-
-
-
3,614
3,744
247,726
50,000
493,768|
|---|---|---|---|---|---|
The capital grants were provided toward the cost of building the property at 81 Gortnaghey Road and towards the cost of fixtures and fittings. The balance is reducing as the assets are depreciated.
If the company defaults on the conditions listed in the letter of offer, thee grants could become repayable until the expiry of the restricted period. The restricted period means a period of 10 years commencing on the date on which the last payment of grant was made (80 years in respect of funding from Big Lottery Fund).
As security for the obligations of the company to repay the financial assistance the funders have a legal charge over the freehold property situated at 79a to 81 Gortnaghey Road.
The trustees have designated £50,000 of current reserves to assist with the development of the village activity hub and Permissive Path Works.
16
**Gortnaghey Community Association**
## **Notes to the financial statements for the year ended February 28[th] 2025**
……Continued
## **9 Analysis of net assets between funds**
|Fixed assets
Net current assets
Fixed assets
Net current assets|**Unrestricted**
**funds**
**£**
232,496
65,230
297,726
**Unrestricted**
**funds**
**£**
241,064
80,362
321,426|**Restricted**
**funds**
**Revenue**
**£**
-
3,744
3,744
**Restricted**
**funds**
**Revenue**
**£**
-
11,522
11,522|**Restricted**
**funds**
**Capital**
**£**
192,298
-
192,298
**Restricted**
**funds**
**Capital**
**£**
222,809
-
222,809|**Total**
**2025**
**£**
424,794
68,974
493,768
**Total**
**2024**
**£**
463,873
91,884
555,757|
|---|---|---|---|---|
## **10 Related party disclosures**
No out of pocket expenses were reimbursed to the trustees during the year. (2024: Nil) There were no related party transactions in the year (2024: Nil)
## **Controlling party**
The company is controlled by the Board of Directors. In the opinion of the directors there is no ultimate controlling party.
## **11 Independent examiners remuneration**
|**1**
**Independent examiners remuneration**|||
|---|---|---|
|Examination of financial statements
Other services|**2025**
800
946|**2024**|
|||750
890|
## **12 Other information**
The company is a private company limited by guarantee incorporated in Northern Ireland, registered number NI056271. The registered office is 81 Gortnaghy Road, Dungiven, BT47 4PZ.
17