COMPANY REGISTRATION NUMBER.. N1066404 CHARI REGISTRATION NUMBER: NIC102700 Slieve Gallion Community Pre-school Company Limited by Guarantee Unaudited Financial Statements 30 September 2022 PFS ACCOUNTANTS AND AUDITORS LTD Chartered Certified Accountants 122 Main Street Dungiven Co Derry BT47 4LG
Slieve Gallion Community Pre-school Company Limited by Guarantee Financial Statements Year ended 30 September 2022 Page Directors, annual report (incorporating the director's report) Independent examiner's report to the directors Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements
Slieve Gallion Community Pre-school Company Limited by Guarantee Directors. Annual Report (Incorporating the Director's Report) Year ended 30 September 2022 The directors, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 30 September 2022. Reference and administrative details Registered charity name Slieve Gallion Community Pre-school Charity registration number NIC102700 Company registration number N1066404 Principal office and registered 62B Longfield Road office Desertmartin Magherafelt BT45 5LS Co Dery The directors Frances Barker Denise Mccool Clare Murray Independent examiner PFS Accountants and Auditors Ltd 122 Main Street Dungiven Co Dery BT47 4LG
Slieve Gallion Community Preschool Company Limited by Guarantee Directors, Annual Report (Incorporating the Director's Report) (continued) Year ended 30 September 2022 Structure, governance and management The officers and Committee Members during the year were as follows.. Frances Barker (Chairperson) Denise Mccool - Director Clare Murray - Director Nadine Connery - Committee Member Mary B McGuigan - Committee Member Andrea McBride- Committee Member Brenda Robb - Committee Member Mary McElwee - Committee Member Karen McElwee- Committee Member Danielle Mcstravock - Committee Member Kathy Kidd - Committee Member Kathy McLernon - Committee Member Edel McGuckin - Committee Member Alison Mccabe Caroline Quinn Rosie McGuigan Charmaine Mcmullan Dolores Higgins Colene Smith Charlene Kelly Selina Spiers Clara McDaid Mary Bradley Charlene Toner Regina Molloy Clara Donnelly Joleen Shaw Lisa Burns Charlene Kelly Eilish Kirkpatrick Andrew Johnston Objectives and activities The principal activities of the company are to enhance the development and education of young children by encouraging parentslguardians to understand and provide for the needs of their children by offering play facilities. Achievements and performance We will continue to place great emphasis on rights, responsibilities, firmness, fairness, flexibility, patience, humour and a passion for children's learning, as it is at the heart of the work we do. We are also very proud of our recent Department of Education Inspection grade of outstanding in all areas of the pre-school. Financial review The results of the company are set out in detail on page 5.
Slieve Gallion Community Pre-school Company Limited by Guarantee Directors. Annual Report {Incorporating the Director's Report) (continued) Year ended 30 September 2022 Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The directors, annual report was approved on 15 June 2023 and signed on behalf of the board of trustees by.. Denise Mccool Director
Slieve Gallion Community Prechool Company Limited by Guarantee Independent Examiner's Report to the Directors of Slieve Gallion Community Pre-school Year ended 30 September 2022 I report to the directors on my examination of the financial statements of Slieve Gallion Community Pre-school {'the charity'l for the year ended 30 September 2022. Responsibilities and basis of report As the directors of the company (and also its directors for the purposes of company law} 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 Companies 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 2008 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as 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)Ib} of the 2008 Act. Independent examiner's statement 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 not kept in respect of the charity as required by section 386 of the 2006 Act", or the financial ststements 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 fairf view which is not a matter considered as part of an independent examination; 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 charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). 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. frJ W,. LJI PFS Accountants and Auditors Ltd Independent Examiner 122 Main Street Dungiven Co Derry BT47 4LG 15 June 2023
Slieve Gallion Community Preschool Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 September 2022 2022 Restricted funds Total funds Total funds 2021 Unrestricted funds Nots Income and endowments Donations and legacies Other trading activities Investment income 43,633 7,064 10,820 54,453 7,064 39,368 3,905 Total income 50,704 10,820 61,524 43,275 Expenditure Expenditure on raising funds.. Costs of raising donations and legacies Total expenditure 62,746 10,820 73,566 48,156 62,746 10,820 73,566 48,156 Net expenditure and net movement in funds (12,042)) (12,042) {4,881) Reconciliation of funds Total funds brought forward Total funds carried forward 19,493 19,493 24,374 19,493 7,451 7,451 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 8 to 17 form part of these financial statements.
Slieve Gallion Community Pre-school Company Limited by Guarantee Ststement of Financial Position 30 September 2022 2022 2021 Note Fixed assets Tangible fixed assets 13 15,363 20,968 Current assets Debtors Cash at bank and in hand 14 2,780 6,608 22,681 9,388 22,681 Creditors: amounts falling due within one year Net current assets 15 4,925 6,916 4,463 15,765 Totsl assets less current liabilities 19,826 36,733 Creditors: amounts falling due after more than one year Net assets 16 (12,375) 7,451 (17,240} 19,493 Funds of the charity Unrestricted funds 7,451 19,493 Total charity funds 20 7,451 19,493 For the year ending 30 September 2022 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 financial 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 preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 8 to 17 fomi part of these financial statements.
Slieve Gallion Community Pre-school Company Limited by Guarantee ststement of Financial Position (¢ontinued) 30 September 2022 These financial statements were approved by the board of trustees and authorised for issue on 15 June 2023 and are signed on behalf of the board by: Frances Barker Director Denise Mccool Director Clare Murray Director The notes on pages 8 to 17 forni part of these financial statements.
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements Year ended 30 September 2022 General infomiation The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 62B Longfield Road, Desertmartin, Magherafelt, BT45 5LS, Co Derry. Statement of compliance These financial ststements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 (FRS 102) {Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies 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 investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on 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 purposes. Designated funds are unrestricted funds earmarked by the directors 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 fall into one of two sub-classes.. restricted income funds or endowment funds.
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 Accounting policies (continued) Incoming resources All incoming resources are included in the statement 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 gift, 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 this 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 services 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 contracted 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. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially 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.
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 Accounting policies (continued) Tangible assets (continued) 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 recognised 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 activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual vaSue, over the useful economic life of that asset as follows= Car park & yard improvements Mobile classroom Fixtures and fittings Soft play area 10 % straight line 10 % straight line 20 % straight line 10 % straight line 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 is 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, allocated to each of the cash-generating units that are expected to benefit from the synergies of the Combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Government grants Government grants are recognised 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. Vvhere 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 recognition criteria, they are recognised as a 10
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 Accounting policies (continued) Financial instruments A financial 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 liabilities 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. Vvhere investment5 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 impairment. 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 of 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 initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually ft)r 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. Defined contribution plans Contributions to defined contribution 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. 11
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 Accounting policies (continued) Defined contribution plans (continued) Vvhen 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 period in which it arises. Limited by guarantee The company is Limited by Guarantee and does not have a share capital. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2022 Donations Donations type 1 883 883 Grants NEELB Funding Mains Grant Community Foundation Honourable Irish Society Groundwork UK Halifax Foundation 42,750 42,750 4,880 1,000 1,035 1,125 2,780 4,880 1,000 1,035 1,125 2,780 43,633 10,820 54,453 Unrestricted Funds Restricted Total Funds Funds 2021 Donations Donations type 1 669 669 Grants NEELB Funding HSC DEARA 36,824 36,824 979 896 979 896 37,493 1,875 39,368 12
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 Other trading activities Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Parental contributions Fundraising events After Schools Club 1,650 3,314 2,100 1,650 3,314 2,100 1,834 2,071 1,834 2,071 7,064 7,064 3,905 3,905 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Bank interest receivable Costs of raising donations and legacies Unrestricted Funds Restricted Total Funds Funds 2022 Food & consumables Toys, arts & crafts Wages and salaries Other type 1- employer's NIC Pension costs Staff training Rent and rates Facilitator costs Light & heat Repairs & maintenance Insurance Accountancy fees Office expenses Furniture, tables and chairs Legal and professional fees Telephone Graduation Expenses Amortisation Depreciation Bank fees Sundry expenses 300 320 400 300 1,058 41,287 110 1,071 3,003 2,423 1,670 2,838 2,663 3,049 1,958 2,573 2,073 4,474 1,166 800 (4,866) 5,605 167 144 738 40,887 110 1,071 223 2,423 270 2,558 938 3,049 1,958 238 793 4,474 1,166 800 (4,866) 5,605 167 144 2,780 1,400 280 1,725 2,335 1,280 62,746 10,820 73,566 13
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 Costs of raising donations and legacies (continued) Unrestricted Funds Restricted Totsl Funds Funds 2021 Food & consumables Toys, arts & crafts Wages and salaries Other type 1- employerfs NIC Pension costs Rent and rates Light & heat Repairs & maintenance Insurance Accountancy fees Office expenses Furniture, tables and chairs Legal and professional fees Telephone Amortisation Depreciation Bank fees Sundry expenses Cleaning 421 1,426 25,000 421 1,426 25,000 484 711 2,672 1,187 3,693 2,543 763 3,480 38 2,640 1,311 {4,866) 6,032 160 202 259 711 2,672 1,187 2,714 2,543 763 2,585 38 2,640 1,311 (4,866) 6,032 160 202 258 979 896 46,281 1,875 48,156 Net expenditure Net expenditure is stated after chargingl(crediting)-. 2022 2021 Depreciation of tangible fixed assets 5,605 6,032 10. Independent examination fees 2022 2021 Fees payable to the independent examiner for.. Independent examination of the financial statements 1,958 763 14
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2022 2021 Wages and salaries Social security costs Employer contributions to pension plans 41,287 110 1,071 25,000 484 711 42,468 26,195 The average head count of employees during the year was 5 {2021: 4). The average number of full-time equivalent employees during the year is analysed as follows.. 2022 No. 2021 No. Administrative staff No employee received employee benefits of more than £60,000 during the year (2021= Nil)- 12. Trustee remuneration and expenses The directorsltrustees received no remuneration in the year {2019-. £nill and there were no transactions in which the directors had an interest requiring disclosure. 13. Tangible fixed assets Short leasehold Plant and Fixtures and propety machinery fittings User defined asset Total Cost At 1 October 2021 and 30 September 2022 Depreciation At 1 October 2021 Charge for the year At 30 September 2022 Carrying amount At 30 September 2022 At 30 September 2021 42,906 52,025 17,475 3,248 115,654 26,406 4,125 52,025 13,007 1,480 3,248 94,686 5,605 30,531 52,025 14,487 3,248 100,291 12,375 2,988 15,363 16,500 4,468 20,968 14. Debtors 2022 2021 Trade debtors 2,780 15
Slieve Gallion Community Preschool Company Limited by Guarantee Notes to the Financial Ststements fcontinued) Year ended 30 September 2022 15. Creditors: amounts falling due within one year 2022 2021 Trade creditors Accruals and deferred income Social security and other taxes Other creditors 3,420 1,020 264 222 5,782 630 318 186 4,925 6,916 16. Creditors: amounts falling due after more than one year 2022 2021 Accruals and deferred income 12,375 17,240 17. Deferred income 2022 2021 Amount released to income Amount deferred in year At 30 September 2022 14,866) 17,241 {4,866) 22,106 12,375 17,240 18. 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 £1,071 (2021.. £711). 19. Government grants The amounts recognised in the financial statements for government grants are as follows.. 2022 2021 Recognised in creditors= Deferred government grants due after more than one year 12,375 17,240 16
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 30 September 2022 20. Analysis of charitable funds Unrestricted funds At 1 October 20 21 At 30 September 2022 Income Expenditure General funds Members Funds {21,064) 40,557 50,704 (62,746) (32,106) 40,557 19,493 50,704 (62,746) 7,451 At 1 October 20 20 At 30 September 2021 Income Expenditure Transfer General funds Members funds Capital reserve account General contingency reserve (36,833) 40,556 15,650 5,001 41,400 (46,281) 20,651 (21,063} 40,556 (15,650) {5,001) 24,374 41,400 (46,281) 19,493 Restricted funds At 1 October 20 21 At 30 Septemb er 2022 Income Expenditure Restricted Fund 1- desc in alcs 10,820 {10,820) At 1 October 20 20 At 30 Septembe r 2021 Income Expenditure Restricted Fund 1 desc in alcs 1,875 (1,875) 17
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 30 September 2022 20. Analysis of net assets between funds Unrestricted Total Funds Funds 2022 Tangible fixed assets Debtor Current assets Creditors less than 1 year Provisions 15,363 2,780 6,608 (4,925) (12,375) 15,363 2,780 6,608 (4,925) (12,375) Net assets 7,451 7,451 Unrestricted Total Funds Funds 2021 Tangible fixed assets Current assets Creditors less than 1 year Provisions 20,968 22,681 (6,916) 117,240) 20,968 22,681 (6,916) (17,2401 Net assets 19,493 19,493 18