COMPANY REGISTRATION NUMBER: N1625831 CHARITY REGISTRATION NUMBER: NIC102750 Aghanloo Community Association Company Limited by Guarantee Unaudited Financial Statements 31 July 2018 DONALDSON & THOMPSON LTD Chartered Accountants 101 Irish Green Street Limavady BT49 9AA
Aghanloo Community Association Company Limited by Guarantee FinanGial Ststements Year ended 31 July 2018 Page Trustees, annual report (incorporating the directorfs report) Independent examinevs report to the trustees ststement of financial activities (including income and expenditure account) ststement of financial position Notes to the financial statements
Aghanloo Community Association Company Limited by Guarantee Trustees, Annual Report {Incorporating the Director's Report} Year ended 31 July 2018 The trustees, who are also the directors for the purposes of company law, present their report and the naudited financial statements of the charity for the ye8r ended 31 July 2018. Reference and administrative details Registered charity name Aghanloo Community Asswiation Charity registration number NIC102750 Company registration number N1625831 Principal office and registered The Community Centre office 31 Aghanloo Road Limavady BT49 OHY The trustees Mr J Thompson Mr E Stevenson Mr l Martin Mrs E Scott Mrs R Savage Independent examiner Donaldson & Thompson Ltd 101 Irish Green Street Limavady BT49 9AA structure, govemance and management The organis8tion is a charitable company limited by guarantee, incorporated on 25th July 2014. apIed as a charity by HM Revenue & Customs, reference N100620 and registered with the Charity Commission for Northern Ireland on 22nd April 2016, charity number NIC102750. The company was incorporated under a Memorandum of Association which established the objects and powers of the charitable company and is goveined under ils Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10. Objectives and activities Aghanloo Community Association serves the Rural Comrnunily Df Aghanloo and surrounding areas with the provision of a community centre which facilitates activities for children. young people. those with mental health, socially isolated, families and older persons. The association aims to provide a secure, safe environment for those living within the rural area for community engagement, education, training and social icultural aclivilies. Aghanloo Community Association is a community hub which aims to provide. facilitate and support ils local residents and meet the needs of the rural community in which it is situated.
Aghanloo Community Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (conllnu8d) Year ended 31 July 2018 Achièvements and performance The charity currently runs dance classes, facilitate Woman's Instilule, charity events, children's summer scheme and workshops, educational workshops and classes and adult social even15. The property is also hired out to local religious groups for events and functions and provided lo residents of the Aghanloo area and SUTrounding district for recreational purposes. Flnanclal revlew The results forthe year are contained in the financial statements attached. The current year defK¢t has occurred owng to a reduction in amounts received from major funders. Small company provlslons This report has been prepared in accordants with the provisions applicable lo companies enif(led to the small companies exemption. The trustees. annual report was approved on 4 October 2018 and signed on behalf of the board of trustees by.. Mr J Thompson Trustee
Aghanloo Community Association Company Limited by Guarantee Independent Examinevs Report to the Trustees of Aghanloo Community Association Year ended 31 July 2018 I report lo the trustees on my exarninalion of the financial slalemenls of Aghanloo Community Association I'lhe charity'} for the year ended 31 July 2018. Responsibilities and basis of report As the trustees of the company (and also ils directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requiiefflenls of Charities Act (Northern Ireland) 2008 Ilhe'2008 Act'l and the Companies Act 2006 ('Ihe 2006 Act'l. You S satisfied that the accounts of the company are not required by charity or company law lo be audlted and have chosen instead lo have an independent examination. Having satisfied myselflhat the accounts ofthe 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 charily's financial slalemenls 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 6519llbl of the 2008 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have Come lo my attention in connection wlh 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 slalemenls do not accord with those records., or the financial stslements do not Comply ¥Arith the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fair, view which is not a matter consldered as part of an independent examination; or the financial stslemenls have not been prepared in accordance wlh the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their a¢¢ounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. I confim that there are no other matters to which your attention should be drawn lo enable a proper understanding of the accounts lo be reached. Donaldson & Thompson Ltd Independent Examiner 101 Irish Green Street Limavady BT49 9AA 4 October 2018
Aghanloo Community Association Cornpany Limited by Guarantee Statement of Financial Activities (including income and expenditure account Year ended 31 July 2018 2018 Restricted funds Totsl funds 2017 Unrestricted funds Total fund8 Note Income and endowments Donations and legacies Charitable activities Investment income 128,625 17.188 12 5.486 12 1,720 7.206 12 Totsl income 5.498 1,720 7.218 145.825 Expenditure Expenditure on charitable actlvittes Total expenditure 6,988 5,245 12,233 15,338 15.338 6.988 5,245 12.233 Net lexpendlturellincome {1,4901 13,5251 15.0151 130,487 Transfers beeen funds {3,3801 3,380 Net movement In funds {4,8701 1145) {5,0151 130,487 Reconcillatlon of fund$ Total funds brought fotward Total funds carried forward 131,472 145 131.617 1,130 126,602 126.602 131.617 The st2temenl of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 6 to 13 forni part of these financlal statements.
Aghanloo Community Association Company Llmlted by Guarantee ststement of Flnancial Position 31 July 2018 2018 2017 Note Flxed assets Tangible fixed assets 14 116,473 119,191 Current assets Cash al bank and in hand 11,359 14,046 Credltors: amounts falllng due withln one year Net current assets 15 1,230 1.620 10,129 12.426 Totsl assets less current liabilities 126,602 131.617 Net assets 126.602 131,617 Funds of the charlty Restricted funds Unrestricted funds 145 131,472 126,602 Totsl charity fLsnds 16 126.602 131,617 For the year ending 31 July 2018 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating lo small companies. Directors. responsibilities.. The members have not required the company to obtain an audit of ils financial slalements for the year in question in accordance with section 476.. The directors acknowledge their responsibilities for complwng with the requirements of the Act with respect to accounting records and Ihe preparation of finanaal stalemenls. These financial statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies, regime. These financial statement5 were approved by the board of trustees and aulhoTised for issue on 4 Othber 2018. and are signed on behalf of the board by.. Mr J Thompson Trustee Mr E Stevenson Trustee The notes on pages 6 to 13 form part of these financial statements.
Aghanloo Community Association Company Limited by Guarantse Notes to the Financial Statements Year ended 31 July 2018 General information The charity is a public benefit entity and a Private company limited by guarantee. Tegislered in Northem Ireland and a registered charity in Northern Ireland. The address of the registered office is The Comrnunily Cenlre. 31 Aghanloo Road, Limavady, BT49 OHY. Statement of ¢ompllan¢e These financial statemen15 have been prepaied in ¢ompliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ire18nd', the Slalemenl of Recommended Practice applicabte lo charities pieparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of IreSand (FRS 1021 {Charilies SORP (FRS 1021} and the CDmpaniesAd 2006. Accountlng policies Basis of preparatlon The financial slalemenls have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured al fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entrf(y. 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 stslements requires management to make judgements, estimates and assumptions that affect the amounts reported. These eslimales and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed lo be reasonable under the ¢ir¢umstan¢es. Fund accounting Unrestricted funds are available for use at the discreli¢)n of the trustees lo further any of the haritys purposes. Designated funds are unrestricted funds eam)arkecl by the trustees for particular future project or commitment. Reslricled funds are subjected to reslriclions on their expendrture declaretl by the donor or through the terms of an appeal, and fall into one of0 sub-dasses.. restricted income funds or endowment funds.
Aghanloo Community Association Company Limited by Guarantee Notes to the Financial Statements fcontlnu Year ended 31 July 2018 Accounting pollcles f¢ontynuedJ Incoming resources All incoming resources are included in the staternenl of finanaal activities when entitlement has passed lo the charity., it is probable that the economic benefits associated with the transaction wll flow lo the charity and the amount can be reliably measured. The following specific policies are applied lo particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and ils amount can be measured rellably. legacy income is recognised when reipt is probable and enlillemenl is established. income from donated goods is measured al the fair value of the g¢)ods unless this is irnpractical 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 delivery of the contracted service. This is classified as unrestricted funds unless there is a Contradual requirement for it to be spent on a particular purpose and returned rf unspent. in which case11 may be regarded as restricted. Resources expended Expenditure is recogllised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings ofthe ststement of financial activities to which il relates". expenditure on raising funds indudes the costs of all fundraising aclivilie5. events. non-charitable trading aclivilies, and the sale of donated goods. expenLlituie on charitable activities includes all cost5 incurred by a charity in undertaking activities that further its charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating to the g0Veman 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 ils expenditure on charitable activities. All costs are allocated lo expenditure categories refleclirrfJ the use of the resource. Direct costs attributable lo a single activity are allocated dire¢lly to that activity. Shared costs are apportioned between the aCtivleS they contribute to on a reasonable, juslifiable and consistent basis. Tanglble assets Tangible assets are initially recorded at C051. and subsequently slated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded al the fair value at the dale of ievalualion less any subsequent a¢cLJmulaled depreciation and subsequent a¢cumul*ed impalrmenl losses.
Aghanloo Community Association Company Limited by Guarantee Notes to the Financial Statements (conlthuedj Year endod 31 July 2018 ACCOUnng pollcles {continued) Tangible assets (conlinuod) An increase in the carrying amount of an asset as 8 sU11 of a ValUatiOn. is recognised in other recognised gains and losses, unless il reverses a charge for impaimienl that has previously been recognised as expenditure within the slalemenl of finanaal aclivilies. A deuease in the carying amount of an asset as a result of revaluation. is recognised in other Tecognised gains and losses. except to which il offsets any previous revaluation gain. in which case the 105S IS shown within other recognised gains and losses on the statement of financial activities. Depreclatlon Depreciation is calculated so as lo write off the wst or valuation of an asset, less ils residual value, over the useful economic life of that asset as follows- Freehold property Fixiures and fittings 2% straight line 20Yo reducing balance Impaimient of fixed assets A review for indicators of impaimient is carried out at each reporting date. with the recoverable amount being eslimaled where such indicators exist. Where the carrying value exceeds the coverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal al each reporting dale. For the purposes of impairment lesling, when il is not possible lo estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit lo 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 groupg of assets. For impaimient lesling 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 lo beneff( from the synergies of the comblnalion. iffespeclive of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the charity becomes 8 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 liabilf(ies are subsequently measured atthe cash or otherconsideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cos¢.
Aghanloo Community Association Company Limited by Guarantee Notes to the Financial Statements (conlynuedj Year ended 31 July 2018 Accountlng policies (conilnued) Financial instruments (continued) Where investments in shares are publicly traded or their fair value Can othetwise be measured reliably. the investment is sijbsequently 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 inslrumenls, including derivatives. are initially recognised al fair value. unless payment for an asset is deferred beyond normal business terms or financed at a rale of interest that is not a market rate, in which case the asset is measureLI at the present value of the future payments discounted at a market rale of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the slalement of financial acttvities, 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 impaimenl, an impaim)ent loss is re¢ognised under the appropriate heading in the slalement of financial activities in which the initial gain was recognised. For all equ¢ty instruments regardless of significance, and other financial assets that are individually Slgnificanl, these are assessed individually for imp8irmenl. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognisecl 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 impairrnenl not previously been recognised. Limited by guarantee Aghanloo Community Association is a company limited by guarantee and accordingly does not have a share capital. Every member of the company undertakes to contribute such amount as may be reqUId not exceeding £10 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases lo be a member. Donatlons and legaclgs Unrestricted Total Funds Unrestricted Total Funds Funds 2018 Funds 2017 Donations Donations 128,625 128.625
Aghanloo Community Association Company Limited by Guarantee Notes to the Financial Statements (conunued) Year ended 31 July 2018 Charltsble actlvltles Unrestricted Funds Reslricled Total Funds Funds 2018 Other income from charitable activities- Rent Other income from charitable activities- Grants Other income from charitable activities- Room hire Other income from charitable activities- Workshops & events 2.080 2,080 1,720 1,910 1,720 1,910 1,496 1,496 5,486 1,720 7.206 Unrestricted Funds Reslricled Total Funds Funds 2017 Other income from charitable adivities- Rent Other income from charitable activities - Grants Other income from charitable activities - Room hire Other income from charitable activf(ies- W0$hop$ & events 2.480 2.480 12.575 1.335 12,575 1.335 798 798 4,613 12,575 17,188 Investment Income Unrestricted Total Funds Unrestricted Total Funds Funds 2018 Funds 2017 Bank interest receivable 12 12 12 12 Expenditure on charitable activlties by fund type Unrestricted Funds Restricted Total Funds Funds 2018 Cornrnunily ¢enlre Support costs 5,717 1,271 5,245 10.962 1.271 6,988 5,245 12,233 Unrestricted Funds Restricted Total Funds Funds 2017 Community centre Support costs 5,546 3,684 6,108 11,653 3,685 15,338 9,230 6,108 10
Aghanloo Community Association Company Limited by Guarantee Notes to the Financial Statements (coniinuedj Year ended 31 July 2018 Expenditure on charitable activities by a1vItY type Activltles undertaken directly Support Costs Total funds 2018 Total fund 2017 Cornmunity centre Governance costs 10.962 10.962 1,271 11,653 3,685 1.271 10,962 1,271 12,233 15,338 10. Net (expenditureifincome Net lexpenditurellineome is staled after chargingllcreditingl.. 2018 2017 Depreclatlon of langlble fixed assets 2.718 2,798 11. Independent examination fees 2018 2017 Fees payable lo the independent examiner for Independent examination of the financial statements 1,230 1,620 12. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2018 2017 The average head count of employees during the year was Nil12017.' Nill. No employee received employee benefits of more than £60,000 during the year {2017.' Nill. 13. Trustee remuneratlon and expenses No remuneration or other benefi15 from employment with the ¢harity or 8 related enlily were reiVed by the twstees. 11
Aghanloo Community Association Company Llmited by Guarantee Notes to the Financial Statements icontinued) Year ended 31 July 2018 14. Tangible fixed assets Freehold Fixbjres and property fillings Totsl Cost At 1 August 2017 and 31 July 2018 Depreclation Al 1 August 2017 Charge foT the year At 31 July 2018 Carrying amount At 31 July 2018 Al 31 July 2017 120,000 2,971 122,971 2.400 2.400 1,380 318 3,780 2,718 6,498 4,800 1,698 115,200 1,273 116,473 119,191 117,600 1,591 15. Credltors: amounts falllng due within one year 2018 2017 Accruals and deferred income 1,230 1.620 16. Analysis of charltable funds Unrestricted funds Al 1 August 2017 At Transfers 31 July 2018 Income Expenditure General funds Designated funds 13.872 117.600 5,498 14,5881 12,4001 16,9881 {3,3801 11,402 115,200 131.472 5,498 (3,3801 126,602 Restricted funds At 1 August 2017 At Transfers 31 July 2018 Income Expenditure Restricted fund5 145 1,720 15,2451 3,380 12
Aghanloo Community Association Company Limited by Guarantee Notes to the Detailed Statement of Flnancial Activities Year ended 31 July 2018 17. Analysts of net assets between funds Unrestricted Total Funds Totsl Funds Funds 2018 2017 Tangible fixed assets Current assets Creditors less than 1 year Net assets 116,473 11,359 11.230} 116.473 11,359 (1,2301 126,602 119,191 14.046 11.6201 131,817 126,602 13