COMPANY REGISTRATION NUMBER: N1066404 CHARITY REGISTRATION NUMBER: NIC102700 Slieve Gallion Community Pre-school Company Limited by Guarantee Unaudited Financial Statements 30 September 2023 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 2023 Page Directors, annual report (incorporating the directors 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 2023 The directors, who are also the directors for the purposes of company law. present their report and the unaudited financial statements of the Gharity for the year ended 30 September 2023. Reference and administrative detalls Reglstered charity name Charlty registration number Slieve Gallion Community Pr&School NIC102700 Company registratlon number N1066404 Principal offlce and registered 62B Longfield Road office Desertmartin Magheiafelt BT45 5LS Co Derry The directors Frances Barker Denise Mccool Clare Murray Independent examlner PFS Accountants and Auditors Ltd 122 Main Street Dungiven Co Derry BT47 4LG
Slieve Gallion Community Pre-school Company Limited by Guarantee Directors. Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 30 September 2023 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 Mpmber 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 - Cotr7iTiitlee Member Edel McGuckin - Committee Member Michael Mciver- Committee Member Liam Kearny - Committee Member Linda Carmichael Committee Member Ann Marie Ohagan Julie Ohagan Charlene Mcgovem Leanne Martin Declan Mcelhenon Eimear Hegaty Objectives and actlvities The principal activities of the company are to enhance the development and education of young children by encouraging pafentslguardians to understand and provide for the needs of their children by offering play facilities. Achlevements and perfomiance We Wll continue to pla great emphasi5 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 ail 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) (conllnued) Year ended 30 September 2023 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 4 June 2024 and signed on behalf of the board of trustees by: Denise Mccool Director
Slieve Gallion Community Pre-school Company Limited by Guarantee Independent Examiner's Report to the Directors of Slieve Gallion Community Pre-school Year ended 30 September 2023 I report to the directors on my examination of the financial statements of Slieve Gallion Community Pre-school ('the charity,) for the year ended 30 September 2023. Responsiblllties 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 iequirements of Charities Act (Northern Ireland) 2008 (the .2008 Act.) and the Companies Act 2C()61'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 lo 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 as Garried out un¢Jer 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 examiner's statement I have completed my examination. I confimi that no matters have come to my altentit)n in connÈ¢tion 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 statements do not accord with those records,. or Ihe financial statements do not comply with the a¢counting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fail view which is not a matter considered as part of an independent examination,. or the fi'nancial 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 lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Slieve Gallion Community Pre-school Company Limited by Guarantee Independent Examiner's Report to the Directors of Slieve Gallion Community Pre.School (continued) Year ended 30 September 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. PFS Accountants and Auditors Ltd Independent Examiner 122 Main Street Dungiven Co Derry BT47 4LG 4 June 2024
Slieve Gallion Community Pre-school Company Limited by Guarantee Statement of Financial Activities {including income and expenditure account) Year ended 30 September 2023 2023 Restricted funds Total funds Total funds Unrestricted funds 2022 Note Income and endowments Donations and legacies Other trading 2clivili@s Investment income Total income 56,249 5,309 65 6,616 62,865 5,309 65 54,453 7,064 61,623 6,616 68.239 Expendlture Expenditure on raising funds.. Costs of raising donations and legacies Total expenditure 61,524 55,432 55,432 6,616 62,048 62,048 73,566 73,566 6,616 Net Incomel(expendilure) and not movement In funds 6.191 6,191 (12,042) Reconciliation of funds Total funds brought forward Total funds carried forward 7,452 13,643 7,452 13,643 19,493 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 9 to 19 fomi part of these financlal statements.
Slieve Gallion Community Pre-school Company Limited by Guarantee Statement of Financial Position 30 September 2023 2023 2022 Note Flxed assets Tangible fixed assets 13 10,242 15,363 Current assets Debtors Cash at bank and in hand 14 2,780 6,608 9,388 13,648 13,648 Credltors: amounts falllng due wlthin one year Net current assets Total assets less current liabllllies Creditors: amounts falling due after more than one year Net assets 15 1,997 11,651 4,925 4,463 19,828 21,893 16 8,250 13,643 12,375 7,451 Funds of the charlty Unrestricted funds 13,643 7,451 7,451 Total charlty funds 20 13,643 For the year ending 30 September 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 financial statements for the year in question in accordance with section 476: The direclors acknowledge their responsibilities for comptying 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 9 to 19 forni part of these financial statements.
Slieve Gallion Community Pre-school Company Limited by Guarantee Statement of Financial Position (contintsedj 30 September 2023 These financial statements were approved by the board of trustees and authorised for issue on 4 June 2024, and are signed on behalf of the board by.. Frances Barker Dire¢tor Denise Mccool Director Clare Murray Director Tho note8 on pages 9 to 19 form part of the8è financial 8taternents.
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements Year ended 30 September 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 Northern Ireland. The address of the registered office is 62B Longfield Road, Desertmartin, Magherafelt, BT45 SLS, Co Derry. Statement of Compliance These financial statements 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 IFRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basls of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of rtain financial assets and liabilities and investmenl properties measured at fair V8liJ@ 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 al)out the charity'5 ability to continue. Judgements and key sources of estlmation uncertalnty 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 accountlng 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 commitmenL Restricted funds are subjected to restrictions on their expenditure declared by Ihe 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 (eontlntsed) Year ended 30 September 2023 Accounting policies (continu8dJ 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 cateqories of in¢ome.' 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 entidement is established. incomg. from donated goods is measured at the fair value of the goods unless this is impractical lo 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 de.livery of thè Gontrabted servlce. 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 liabilty ig incurred. EXpCnditu includes any VAT which cannot be fully recovered. and is classified under headings of the statement of finanGial activities lo which it relates: expenditure on raising funds includes the costs of all fijndraising activities, events, non-charilable 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 apportM)ned 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 behveen the activities they contribute to on a reasonable. justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairmenl 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. 10
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (Gontlnu Year ended 30 September 2023 Accounting policles (eondnu¢dJ Tangible assets (condnuod) An increase in the carrying amunt 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 abbel as a result of revaluation, is recognised in other rgcognised gains and losqp.s, except to which it offsets any previous revaluation gain, in which case the Ioss is shown within other recognised gains and losses on the statement of financial activities. Depreciatlon Depreciation is calculated 50 as to write off the cost or valuation of an asset. less its residual value. over the useful economic lite ot that asset as follows: 10% straight line 100/0 Straight line 200A straight line 10% straight line Car park & yard improvements Mobile classroom Fixtures and fittings Soft play area Impalmient 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 Ihe 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 impaimient 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. Crants are not re¢ognised 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 perfomiance-related conditions have been met. Where grants received are prior to sats'sfying the revenue recognition criteria, they are recognised as a 11
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements fcontlnu¢d) Year ended 30 September 2023 Accounting policles (eontlnued) Financlal 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 recetvable or payablo including any related transaction costs. Current assets and current liabilities are subsequently measured at the cash or other considerats'on expected to be paid or reiVed and not discounted. Debt instruments are subsequently measured at amortised cosL Vvhere 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. Al 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 asqet is defÈrred beyond normal business leim5 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 al a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any ohanges recognised in the slalement 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 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 eXedS 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. 12
Slieve Gallion Community Prechool Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 September 2023 Accounting pollcies (conllnued) Defined contrlbution plans (eontlnued) Vvhen contributions are not expected to be settled wholly within 12 rTh)nths 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 perlo(I In which it arises. Llmited by guarantee The company is Limited by Guarantee and does not have a share capital. Donations and legacles Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Donations 8,929 8,929 Grants NEELB Funding Community Foundalion Halifax Foundation Albert Hunt Early Years 46,820 46,820 1,999 1,298 2,000 1,819 1,999 798 2,000 1,819 6,616 500 56,249 62,865 Unrestricted Funds Restricted Total Funds Funds 2022 Donatlons Donations type 1 883 883 Grants NEELB Funding Mains Grant Community Foundation Honourable Irish Society Grounwork UK Halifax Foundation 42,750 42,750 4,880 1,000 1,035 1,125 2,780 54,453 4,880 1.000 1.035 1,125 2,780 43,633 10,820 13
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (¢ontinuedJ Year ended 30 September 2023 Other trading activlties Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Parental contributions Fundraising events After Schools Club 876 446 .3 g87 876 446 3,987 1,650 3,314 2,100 1,650 3,314 2,100 5.309 5,309 7,064 7,064 Investment income Unrestricted Total Funds Unrestrted Total Funds Funds 2023 Funds 2022 Bank interest re1vable 65 65 Costs of raising donations and legacies Unresli iLted Funds Restricted Total Funds Funds 2023 Toys, arts & crafts Wages and salaries Pension costs Rent and rates Light & heal Repairs & maintenance Insurance Accountancy fees Office expenses Legal and professional fees Telephone Amortisation Depreciation Bank fees Sundry expenses 1.974 1,819 1,974 41,478 1,092 2,200 2.780 1,302 1,243 1,627 1,187 2,574 1,292 (4,125) 5,121. 166 2,137 39,659 1,092 200 2,780 1,302 1,243 1.627 1,162 2,574 1,292 (4.125) 5,121 166 1,339 55,432 2.000 25 798 6,616 62,048 14
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (conunugd) Year ended 30 September 2023 Costs of raislng donatlons and lega¢les (conllnued) Unrestricted Funds Restricted Total Funds Funds 2022 Food & consumables Toys, arts & crafts Wages an(1 salaries other type 1- employefs 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 {4,8661 5,605 167 144 2,780 1,400 280 1,725 2,335 1,280 62,746 1D.820 73,566 Net Incomel{expenditure) Net incomel(expenditure) is stated after chargingl(crediting): 2023 2022 Depreciation of tangible fixed assets 5,121 5,605 10. Independent examlnation fees 2023 2022 Fees payable to the independent examiner for= Independent examination of the financial statements 1,627 1,958 15
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements {¢ontinued) Year ended 30 September 2023 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2023 2022 Wages and salaries Social security costs Employer contributions to pension plans Other employee benefits 41,478 41,287 110 1,071 3,003 1,092 42,570 45,471 The average head count of employees during the year was Nil (2022.. 5). The average number of full-lime equivalent employees during the year is analysed as follows- 2023 2022 Administrative staff No employee received employee benefits of more than £60.000 during the year (2022.. Nil). 12. Trustee remun8ration and expense8 The directorsltrustees received no remuneration in the year (2022= £nil) and there were no transactions in which the directors had an interest requiring disclosure. 13. Tangible fixed assets Short leasehold Plant and Fixtures and User defined propety machinery fittings asset Total Cost At 1 October 2022 and 30 September 2023 Depreciation At 1 October 2022 Charge for the year At 30 September 2023 Carrying amount At 30 September 2023 At 30 September 2022 42,906 52.025 17,475 3,248 115,654 30,531 4,125 52,025 14.487 996 3.248 100,291 5,121 34.658 52,025 15,483 3,248 105,412 8,250 1,992 10,242 15,363 12,375 2.988 14. Debtors 2023 2022 Trade debtors 2,780 16
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements Icontinued) Year ended 30 September 2023 15. Creditors: amounts falling due within one year 2023 2022 Trade creditors Accruals and deferred income Social security and other taxes Other creditors 1,360 3,419 1,020 264 222 383 254 1,997 4,925 16. Creditors: amounts falling due after more than one year 2023 2022 Accruals and deferred income 8,250 12,375 17. Deferred income 2023 2022 At 1 October 2022 Amount released to income At 30 September 2023 12,375 (4,125) 8,250 17,241 (4,866) 12,375 18. Penslons and other p¢>st retirement benefits Defined contrlbutlon plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,092 (2022.. £1,071). .19. Government grants The amounts recognised in the financial statements for government grants are as follows.. 2023 2022 Recognised in creditors.. Deferred government grants due after more than one year 8,250 12,375 17
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Statements (c¢>nUnued) Year ended 30 September 2023 20. Analysis of charitable funds Unrestrlcted funds At l October 202 At 30 Septembe r 2023 Income Expenditure General funds Designated Fund 1 (33,104) 40,556 7.452 61,623 {55,432) (26,913) 40,556 61,623 (55,432) 13,643 At l October 202 At 30 Septembpr 2022 Income Expenditure General funds Designated Fund 1 (21,064) 40,557 19,493 50,704 (62,746) {33,106) 40,557 7,451 50,704 {62,746) Restricted funds At l October 202 At 30 Septembe r 2023 Income Expenditure Restricted Fund 1 6,616 {6,616) At l October 202 At 30 September 2022 Income Expenditure 10.820 Restricted Fund 1 (10,820} 18
Slieve Gallion Community Pre-school Company Limited by Guarantee Notes to the Financial Ststements (conllnuedj Year ended 30 September 2023 21. Analysis of net assets between funds Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Net assets 10,242 13,648 (1,997} (8,250) 13,643 10,242 13,648 (1,997) (8,250) 13,643 Unrestricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Not ass•ts 15,363 9,388 {4,925) (12,375) 7,451 19