COMPANY REGISTRATION NUMBER: N1625831 CHARif( REGISTRATION NUMBER: NIC102750 Aghanloo Community Association Company Limited by Guarantee Unaudited Financial Statements 31 July 2023 DONALDSON & THOMPSON Chartered Accountants 1Q1 Irish Gr88n Str60t Limavady BT49 9AA
Aghanloo Community Association Company Limited by Guarantee Financial Statements Year ended 31 July 2023 Page Trustees, annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements
Aghanloo Community Association Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Dlrector's Report) Year ended 31 July 2023 Th8 trusteès. who are also the directors for thé purposes of company law, present their report and the unaudited financial statements of the charity for the yéar ended 31 July 2023. Reference and administrative details Registered charity name Aghanloo Communtty Association 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 axamlner Donaldson & Thompson Chartered Accountants 101 Irish Graén Street Limavady BT49 9AA Structure, governance and managemenl The organisation is a charitable company limited by guarantee, incorporated on 25th July 2014, accepted 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 governed under its 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 Community ofAghanloo 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 Icullural activities. Aghanloo Community Association is a community hub which aims to to provide. facilitate and support its local residents and m6et the needs of the rural community in which it is situated.
Aghanloo Community Association Company Limited by Guarantee Trustees. Annual Report (Incorporatlng the Director's Report) (Contintsj Year ended 31 July 2023 Achièvements and performance The charity currently rnns dance classes, facilitate Woman's Institute, charity events, children's summer scheme and workshops, educational workshops and classes and adult social events. The property is also hired out to local religious groups for events and functions and provided to residents of the Aghanloo area and Suound1ng district for recreational purposes. Financial review The results for the year are contained in the financial statements attached. Community activities, room hire and workshop events recommenced during the year. once the charity's property reopened after the govemment restriction associaled with the coronavirus pandemic were relaxed. The charity's legal representatives are reviewing the situation with regard to the fraud cornmitted on the charity. in the year prior to the previous year. by an extemal perpetrator in respect of the loan facility obtained to fund the renovation of the charitys property. It is the charity's trustees, intention to continue to work with their legal representativés and Community Finance Ireland (formerly Ulster Community Investment Trust Ltd {UCIT)) to achieve a resolution to this situation. Small company provlslons This report has been prepared in accordance wlth the provisions applicable to companies entimed to the small companies 6x6mption. The trustees, annual report was approved on 19 October 2023 and signed on behalf of the board of trustees by: Mr J Thompson Trustee
Aghanloo Community Association Company Limited by Guarantee Independent Examlner's Report to the Trustees of Aghanloo Community Association Year ended 31 July 2023 I report on the financial statements for the year ended 31 July 2023, which comprise the statement of financial activities (including income and expenditure account). statement of financial position and the related notes. Respective responsibilities of trustee5 arbd examiner The charity's trustees (who are also the directors of the company for the purposes of company law) are responsible for Ihe preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myseW that the charity is not subject to audit under cornpany law, and is eligible for independent examination. it 15 my responsibiltty lo: examin8 the acwunt5 under sertion 65 of the Charities Act. to 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 to state whether particular matters have come to my attention. Basis of indepondenl examlnerfs report I have examined your charity accounts as required under section 65 of the Charities Ad 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 revlew of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included Gonsideration of any unusual items or disclosures in the accounts, and seeking explanatlons from the trustees concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: That accounting records were not kept in accordance wlth section 386 of the Companiès Act 2006 That the accounts do not accord with those accountlng records 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. That there is further infomiation needed for a proper understanding of the accounts to be reached.
Aghanloo Community Association Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Aghanloo Community Association {contlnued) Year ended 31 July 2023 Independent examiner's statement I have completed my examination and h8ve no concerns in respect of the matters (1) to14) listed above and, in conneclion with following the Direclions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention. Donaldson & Thompson Chartered Accouniants Independent Examiner 101 Irish Green Strget Limavady BT49 9A4
Aghanloo Community Association Company Limited by Guarantee Statement of Financial Activities (Including income and expendlture account) Year ended 31 July 2023 2023 Restricted tunds Total funds Total funds 2022 Unrestricied funds Note Income and endowments Charitable activilies Investment income Other income 6.795 11,145 17.940 11,426 1.010 1,010 Total income 7.811 11,145 18,956 11.434 Expenditure Expenditure on charitabl8 activities Total expenditure 17,473 11,244 28,717 27,894 17,473 11,244 28,717 27.894 Net expendlturo and nat movement In funds (9,662) (99) (9,761) 116,460) Reconclllatlon of funds Total funds brought forward Total funds carrled forward 355,706 (86,7601 (86,859) 268,946 285,406 346.044 259.185 268,945 The statement of financial activities includes all galns and losses recognised in thè year. All income and expenditure derive from continuing activitiés. The notes on pages 7 to 15 form part of these flnanclal statements.
Aghanloo Community Association Company Limited by Guarantee Statement of Financial Position 31 July 2023 2023 2022 Note Fixed assets Tangible fixed assets 14 363,357 371,824 Current a5set5 Debtors Cash at bank and in hand 15 268 15.353 251 8,178 15.621 8,429 Creditors: amounts falling due within one year Net current liabilities 16 119.793 111.307 104,172 102,878 Total assets less current liabilities 259,185 268.946 Net assets 259,185 268,946 Funds of the charity Restricted funds Unrestricted funds (86,859) 346,044 (86.760) 355,705 Total charity funds 17 259.185 268,945 For the year ending 31 July 2023 the charity was entitled to exemption from audlt under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities: The members have not required the company to obtain an audlt of Its financial statements for the year in question in accordance with section 476" The directors acknt)wlèdge théir responslbllltles for complying with the requirements of thè 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. These financial statements were approved by the board of trustees and authorised for issue on 19 Octob r 2023. and are signed on behalf of the board by". Mr J Thompson Trustee Mr E Stevenson Trustee The notes on pages 7 10 15 fomi part of th•s• financial statements.
Aghanloo Community Association Company Limlted by Guarantee Notes to the Flnancial Statements Year ended 31 July 2023 General information The charity is a public benefft entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northem Ireland. The address of the registered office is The Community Centre, 31 Aghanloo Road. Limavady. BT49 OHY. 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 (FRS 102) {Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basls of proparation The financial ststemenls havg been prepared on the historical cost basis, as modified by the revaluation of cartain financial assets and liabilities and investmant propertles measured at fair valua through income or expenditure. The financial statements are prepared in Sterling, which is the functional currency of the entity. Golng concem There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estimation uncertalnty The preparation of tha financlal siat8ments requlres manag8m8nt to make judgements. estimates and assumptions that affact the amounts reported. These astimates 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 charitys purposes. Designated funds are unrestricted funds eamiarked by the trustees for particular future project or commitmenL Restricted funds are subjected to restrictions on their expendiiure declared by the donor or through Ihe terms of an appeal. and fall into one of sub-classes: restricted income funds or endowment funds.
Aghanloo Community Association Company Limited by Guarantee Notes to the Financial Statements (conllnu8d) Year ended 31 July 2023 Accounting policies (¢ontinu•d) Incoming re50UTces All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. it 15 probable Ihat the economic benefits associated with the transaction will Ilow 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 entillement to the gift. receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and ènlitl&m8nt 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 recognlsed in the accounts when reGeived if the value can be reliably measured. No amounts are included for the contribution of general volunt88rs. income fram contracts for the supply of services is recognised with the delivery of the contract8d service. This is classified as unreslricted funds unless there Is a contractual requlrement for it to be spent on a particular purpose and returned if unspenl, 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 classifi8d under headings of the statem8nt of financial activities lo whlch It relates: expenditure on raising funds indudes th8 costs of all fundraising a¢tivitles, events, non- charftable 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 charilable aims for the benefit of its beneficiaries. including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expenditure Ihat is neither lated to raising funds for Ihe 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 activily are allocaled 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 al 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 loss8s.
Aghanloo Community Association Company Limlted by Guarantee Notes to the Flnancial Statements (eontinu Year ended 31 July 2023 Accounting policies (eontinu•dJ Tangible assets (contlftued) An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses, unless il reverses a charge for impairment that has previousty been recognised as expenditure within the statement of financial acttvities. A decrease in the carrying amount of an asset as a resutt of revaluation. is recognised in other recogni5ed 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 value. over the useful economic lrfe of that asset as follows: Freehold property Fixtures and fittings 2Yo Straight line 20¥0 reducing balance Impaimient of fixed assets A review for indlcators of Impalmiènt Is carried OLrt at each reporting date, with the recov8rab18 amount being èsllmated where such Indicators exlst. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each r8POrting date. For the purposes of impairment testing, when it is not posslble to 8stlmat8 the recoverable amount of an indivldual asset. an estimate is made of the recoverable amount of the CaShenerating unit to which th8 asset belongs. The cash-generatlng unlt 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 tha 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 charlly ar6 assigned to those units. 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 subsequentFy measured at the cash or other consideration expected to be paid or received and not discounted. Debl instruments are subsequently measured at amortlS8d cost.
Aghanloo Community Association Company Limlted by Guarantee Notes to the Financlal Statements (¢oftllnued) Year ended 31 July 2023 Accounting policies (contlnued) Financial instruments f¢ontlnu•dJ Where investment5 in shares are publicly traded or their fair value can otheNise be measured reliably. the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investrnents 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 paym8nts discount&d 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 amortlsed Cost are reviewed for objective evidence of impairment at the end of each r8POrting date. If there is objective evid8nc8 of impairment, an impairmeni loss is recognised under the appropriate heading in the statem8nt of financial activities in which the initial gain was r8cognised. For all equity instruments regardless of significance, and other financial assets that are indivldually significant, these are assessed indlvldually for impairment. Other financial assets ar8 either assessed individually or grouped on the basls of similar credit risk characteristics. Any reversals of impairment are reccgnised immedlately, to the extent that the reversal doès not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously b88n r8cognised. 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 required not exceeding £10 to the assels of the charitable company in the event of ils being wound up while he or she is a member, or within one year after he or she ceases to be a member. Charilable activities Unrestricted Funds Restricted Total Funds Funds 2023 Other income from charitable activities- Rent Other incorne from charitable activities - Grants Other income from charitable activsties - Room hire Other income from charitable activities - Workshops & events 2.400 2,400 10.125 4.395 10,125 4,395 1,020 1,020 6,795 11,145 17.940 10
Aghanloo Community Association Company Limited by Guarantee Notes to the Financlal Statements (continuad) Year ended 31 July 2023 Charitable actlvltles (conllnued) Unrestricted Funds Restricted Total Funds Funds 2022 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 2.347 2.347 4.879 3.915 4.879 3,915 285 285 6.262 5.164 11.426 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest receivable Other Income Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Other income- Refund of legal f88S 1,010 1,010 Expenditure on charltable actlvltles by fund type Unr8Strlct8d Funds R8Stricted Total Funds Funds 2023 Community ntre Support costs 16.167 1,306 11.244 27,410 1,307 17,473 11,244 28,717 Unrestricted Funds Restricted Total Funds Funds 2022 Community centre Support costs 16.054 1.296 10.545 26.599 1.295 17.350 10.545 27.894 11
Aghanloo Community Association Company Limlted by Guarantee Notes to the Flnanclal Statements (eontlnu4dJ Year ended 31 July 2023 Expenditure on charitable activities by activity type Activities undertaken directly Support Total funds 2023 Total fund 2022 Community ntre Governan costs 27,410 27.410 1.307 26.599 1.295 1,307 27,410 1.307 28.717 27.894 10. Net expenditure Net expenditure is stated after chargingl(crediting): 2023 2022 Depreciation of tangible fixed assets 8,467 8,581 11. Independont examlnatlon foes 2023 2022 Fe&s payable to the Ind8pènd8nt examiner for.. Independent examinatlon of th8 financial stat8ments 1,230 1,230 12. Staff costs The average head count of employees during the year was Nil (2022: Nil). No employee reiVed employee benefrts of more than £60.000 during the year (2022.. Nil). 13. Trusteè remuneration and expenses No remuneration or other beneffts from employment with the charity or a related entity were reiVed by the trustees. 12
Aghanloo Community Association Company Limited by Guarantee Notes to the Flnanclal Statements (¢onUnuedJ Year ended 31 July 2023 14. Tangible fixed assets Freehold Fixtures and property fittings Totsl Cost At 1 Aug 2022 and 31 Jul 2023 Depreciation At 1 Aug 2022 Charge for the year At 31 Jul 2023 400,622 5.709 406,331 31,072 8,012 3.435 455 34,507 8,467 39,084 3,890 42.974 Carrying amount At 31 Jul 2023 361.538 1,819 363.357 At 31 Jul 2022 369,550 2.274 371.824 15. Debtors 2023 2022 Pr9payments and a¢¢rued income 268 251 16. Creditors: amounts falling due withln one yoar 2023 2022 Accruals and deferred income Other creditors 1.289 118.504 2,460 108,847 119.793 111,307 13
Aghanloo Community Association Company Llmited by Guarantee Notes to the Financial Ststements (coftllnuedj Year ended 31 July 2023 17. Anatysis of charitable funds Unrestricted funds At 1 Aug 2022 At Income Expenditure 31 Jul 2023 General funds Designated funds (13,845) 369.551 7,811 (9,461) (8,012) (17.473) (15,495) 361.539 355,706 7.811 346.044 At 1 Aug 2021 At Income Expenditure 31 Jul 2022 General fijnds Designated funds {10,778) 377,563 6.270 (9.338) (8.012) (17.350) (13,846) 369,551 366,785 6,270 355.705 Restricted funds At 1 Aug 2022 Income Expenditure 31 Jul 2023 Restricted funds (86,760} 11,145 (11,244) 186,859) At 1 Aug 2021 At Income Expenditure 31 Jul 2022 Restricted funds (81,379) 5.164 (10,545) (86,760) 18. Analysis of net assets between funds Unrestricted Funds Restricted Tolal Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 361,955 1,402 363.357 (14,622) 30,243 15.621 (1.290) (118,504) (119.794) 346.043 (86.859) 259.184 Unrestricted Funds Restricted Totsl Funds Funds 2022 Tangible fixed assgls Current assets Creditors less than 1 y8ar Net assets 370.072 1.752 371.824 (11.906) 20.335 8,429 {2.4601 (108.847) (111.307) 355,706 (86.760) 268,946 14
Aghanloo Community Association Company Llmited by Guarantee Notes to the Financial Statements (eonllnuodj Year ended 31 July 2023 19. Charges on assets The charity's property at Aghanloo is subject to a charge in favour of the Department of Agriculture. Environment & Rural Affairs which can be released upon the request of the company after the expiry of 10 years from 17th June 2019. 15