COMPANY REGISTRATION NUMBER: N1034527 CHARITY REGISTRATION NUMBER. NIC102915 Feeny Community Association Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2023 Chartered accountants 1 b Brookmount Crescent Omagh Co Tyrone BT78 5HG
Feeny Community Association Limited Company Limited by Guarantee Financial Statements Year ended 31 March 2023 Page Trustees, annual report (incorporating the director's 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
Feeny Community Association Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2023 The trustees, 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 31 March 2023. Reference and adminlstrative details Registered charity name Feeny Community Association Limited Charity reglstratlon number NIC102915 Company registration number N1034527 Principal office and registered Unit 4 Feeny Village Centre office Feeny Co Derry BT47 4FD The trustees A O'Brien S McLaughlin J Connolly Company secretary A O'Brien Independent examiner Mr Shaun McElhinney 1b Brookmount Crescent Omagh Co Tyrone BT78 5HG Structure, governance and management The organisation is a charitable company, limited by guarantee, incorporated on 20 July 1998. The company was established 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 £1. The trustees of the charity, who are also directors, are detailed on page 1. Objoctives and activitles The charity operates a community development group. Achievements and perfonnance The results for the year are contained in the financial statements. Flnancial review The organisation's level of income received increased by 81.8Yo from the previous year. The net assets of the organisation now stand at £31,133.
Feeny Community Association Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 March 2023 Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 12 December 2023 and signed on behalf of the board of trustees by.. A O'Brien Trustee J Connolly Trustee
Feeny Community Association Limited Company Limited by Guarantee Independent Examiner's Report to the Trustees of Feeny Community Association Limited Year ended 31 March 2023 I report to the trustees on my examination of the financial statements of Feeny Community Association Limited ('the charity,) for the year ended 31 March 2023. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial ststements 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 2006 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 ffly examination I have followed the general Directions given by the Charity Commission for Northern Ireland undef section 65(9)(b) 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 statements 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 Stsndard 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 understa ing of the accounts to be reached. Mr Shaun McElhin Independent Examin 1b Brookmount CreSnt Omagh Co Tyrone BT78 5HG 12 December 2023
Feeny Community Association Limited Company Limited by Guarantee ststement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 Restricted funds Total funds 2022 Unrestricted funds Total funds Note Income and endowments Donations and legacies Total income 35,592 8,675 8,675 44,267 44,267 24,347 24,347 35,592 Expenditure Expenditure on charitable activities Total expenditure 56,727 56,727 8,675 65,402 65,050 8,675 65,402 65,050 Net expenditure and net movement in funds (21,135) (21,135) {40,703} Reconciliation of funds Totsl funds brought fOard Total funds carried fonvard 36,729 15,594 15,539 52,268 92,971 15,539 31,133 52,268 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 6 to 13 fonn part of these financial statements.
Feeny Community Associatlon Limited Company Limited by Guarantee Statement of Financial Position 31 March 2023 2023 2022 Note Fixed assets Tangible fixed assets 13 24.465 46,169 Current assets Debtors Cash at bank and in hand 14 185 18,076 18,261 18,302 18,486 Creditors: amounts falling due within one year Net current assets 15 11,593 12,387 6,099 6,668 Total assets less current liabilities 31,133 52,268 52,268 Net assets 31,133 Funds of the charity Restricted funds Unrestricted funds 15,539 15,594 15,539 36,729 Total charity funds 17 31,133 52,268 For the year ending 31 March 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 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. These fi'nancial statements were approved by the board of trustees and authorised for issue on 12 December 2023, and are signed on behalf of the board by.. A O'Brien Trustee J Connolly Trustee The notes on pages 6 to 13 fomi part of these financial statements.
Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Ststements Year ended 31 March 2023 General infomlation The charity is a public benefit entity and a private company limited by guarantee, registered in N Ireland and a registered charity in Northern Ireland. The address of the registered offFe is Unit 4 Feeny Village Centre, Feeny, Co Derry, BT47 4FD. 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 o* 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 Charities {Accounts and Reports) Regulations (Northern Ireland) 2015. 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. No judgements, accounting estimates or assumptions that have been made by management will have a significant effect on the amounts recognised in the financial statements. Fund accounting Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Restricted funds are subjected to restfictions on their expenditure imposed by the donor or through the terms of an appeal.
Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2023 Accounting policies (continued) Incoming resources All incoming resources are included in the statement of financial activities when enti ement 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 charitsble 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. AII 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 All fixed assets are initially recorded at cost.
Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2023 Accounting policies {¢ontinu8d) Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset, less'its residual value, over the useful economic life of that asset as follows.. Freehold property Fixtures & fittings 10°A straight line 25 % reducing balance Impaim)ent of fixed assets A review for indicators of impaimient 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 fecoverable 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 condition5 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 performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are re¢ognised as a 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.
Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Statements {continue Year ended 31 March 2023 Accounting policies (continued) Financial instruments (continued) Where investments in shares are publicly traded or their fair value can otherwise b& 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 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 exceeds what the carrying amount would have been had the impairment not previously been recognised. Limited by guarantee The company is limited by guarantee. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Causeway Coasts and Glens Council Grants Trusthouse WHSCT Donations WELB & Afterschool fees Destined Ltd John Moores Foundation Other Income Garfield Western Community Foundation Foyle Foundation 6,124 1,836 6,124 8,011 6,175 1,600 200 1,600 200 1,332 19,500 1,332 19,500 2,500 5,000 2,500 5,000
Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2023 Donations and legacies (continued) Unrestricted Funds Restricted Total Funds Funds 2023 Grants Government grant income 35,592 8,675 44,267 Unrestricted Funds Restricted Total Funds Funds 2022 Donations Causeway Coasts and Glens Council Grants Trusthouse WHSCT Donations WELB & Afterschool fees Destined Ltd John Moores Foundation Other Income Garfield Western Community Foundation Foyle Foundation 3,000 2,000 5,000 500 500 8,200 600 5,000 500 500 8,200 600 5,000 Grants Government grant income 4,547 22,347 4,547 2,000 24.347 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Cost of raising donations and legacies Support costs 7,116 49,611 56,727 2,500 6,175 9,616 55,786 65,402 8,675 Unrestricted Funds Restricted Total Funds Funds 2022 Cost of raising donations and legacies Support costs 14,295 48,755 2,000 16,295 48,755 65,050 63,050 2,000 10
Feeny Community Association Limited Company Limitsd by Guarantee Notes to the Financial Ststements (contlnued) Year ended 31 March 2023 Expenditure on charitable activities by activlty type Grant funding of activities Support costs Total funds 2023 Total fund 2022 Cost of raising donations and legacies Governance costs 9,616 9,616 SS,786 65,402 16,295 48,755 65,050 55,786 9,616 55,786 Analysis of grants 2023 2022 Grants to institutions Grants to institutions 9,616 9,616 16,295 16,295 Totsl grants Net expenditure Net expenditure is stated after chargingl{crediting)'. 2023 2022 Depreciation of tangible fixed assets 21,704 21,757 10. Independent examination fees 2023 2022 Fees payable to the independent examiner for.. Independent examination of the financial statements 1,000 1,000 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2023 2022 Wages and salaries 27,803 20,000 The average head count of employees during the year was 2 {2022.' 1). The average number of full-time equivalent employees during the year is analysed as follows: 2023 No. 2022 No. Number of staff No employee received employee benefits of more than £60.000 during the year (2022.. Nil). 12. Trustee remuneration and expenses There was no trustee remuneration paid during the year ended 31 March 2023. 11
Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Ststements (contlnued) Year ended 31 March 2023 13. Tangible fixed assets Land and Fixtures and buildings fittings Total Cost At 1 April 2022 and 31 March 2023 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 264,834 11,835 276,669 219,287 21,548 11,213 156 230,500 21,704 252,204 240,835 11,369 Carrying amount At 31 March 2023 23,999 466 24,465 46,169 At 31 March 2022 45,547 622 14. Debtors 2023 2022 Other debtois 185 184 15. Creditors: amounts falling due within one year 2023 2022 Accruals and deferred income Other creditors Other creditors 1,000 9,229 1,364 11,593 3,619 7,662 1,106 12,387 16. Government grants The amounts recognised in the financial statements for government grants are as follows.. 2023 2022 Recognised in income from donations and legacies.. Government grants income 4,547 12-
Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Ststements (contlnued) Year ended 31 March 2023 17. Analysis of charitable funds Unrestricted funds At 1 April 2022 At Income Expenditure 31 March 2023 General funds 36,729 35,592 (56,727) 15,594 At 1 April 2021 At Income Expenditure 31 March 2022 General funds 77,432 22,347 {63,050) 36,729 Restricted funds At 1 April 2022 At Income Expenditure 31 March 2023 General Funds 15,539 8,675 {8,675} 15,539 At 1 April 2021 At Income Expenditure 31 March 2022 General Funds 15,539 2,000 (2,000) 15,539 18. Analysis of net assets between funds Unrestricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 24,465 18,261 (11,593) 31,133 24,465 18,261 (11,593) 31,133 Unrestricted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Net assets 46,169 18,486 (12,387) 52,268 46,169 18,486 (12,387> 52,268 13-