COMPANY REGISTRATION NUMBER. N1034527 CHARITY REGISTRATION NUMBER: NIC102915 Feeny Community Association Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2024 CLAREMOUNT 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 2024 Page Trustees, annual report (incorporating the director's report) Independent examiner's 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 2024 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 2024. Reference and administrative details Registered charity name Feeny Community Association Limited Charlty registration number NIC102915 Company registration number N1034527 Prlnclpal offlce and registered Unit 4 Feeny Village Centre offlce Feeny Co Derry BT47 4FD The trustees A O'Brien S McLaughlin J Connolly Company secretary A O'Brien Independent examiner Mr Shaun McElhinney 1 b Brookmount CreS￿nt 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. Objectives and activities The charity operates a community development group. Achievements and performance The results for the year are contained in the financial statements. Financial review The organisation's level of income received decreased by 26.4 % from the previous year. The net assets of the organisation now stand at £7,144. Feeny Community Association Limited Company Limited by Guarantse Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exempts'on. The trustees, annual report was approved on 16 December 2024 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 2024 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 2024. Responsibilities and basls of report As the trustees of the company (and also its directors ft)r the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act {Northern Ireland) 2008 (the '2008 Act,) and the Companies Act 2006 ('the 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 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 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 examinerfs 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 fair, 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 Ststement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial orting Stsndard applicable in the UK and Republic of Ireland (FRS 102). I confirm understan there are no other matters to which your attention should be drawn to enable a proper g of the accounts to be reached. Mr Shaun McElhinn Independent Exami 1 b Brookmount Crescent Omagh Co Tyrone BT78 5HG 16 December 2024 Feeny Community Association Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacies Total income 32,600 32,600 32,600 32,600 44,267 44,267 Expenditure Expenditure on charitable activities Total expenditure 56,589 56,589 56,589 56,589 65,402 65,402 Net expenditure and net movement in funds (23,989) (23,989) (21,135) Reconclllatlon of funds Total funds brought forward Total funds carried forward 15,594 (8,395) 15,539 15,539 31,133 7,144 52,268 31,133 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 forni part of these financlal statements. Feeny Community Association Limited Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 13 2,876 24,465 Current assets Debtors Cash at bank and in hand 14 213 15,439 15,652 185 18,076 18,261 Creditors: amounts falllng due wlthln one year Net current assets 15 11,384 11,593 6,668 31,133 4,268 7,144 7,144 Total assets less current1Sabllltles Net assets 31,133 Funds of the charity Restricted funds Unrestricted funds 15,539 (8,395 7,144 15,539 15,594 31,133 Total charity funds 16 For the year ending 31 March 2024 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 financial statements were approved by the board of trustees and authorised for issue on 16 December 2024, and are signed on behalf of the board by.. JLO O'Brien rustee J Connolly Trustee The notss on pages 6 to 13 form part of these financial statements. Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General Information 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 office is Unit 4 Feeny Village Centre, Feeny, Co Derry, BT47 4FD. Slatement 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 Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Accounting pollc5es Basis 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 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 significant effect on the amounts recognised in the financial statements. Fund accountlng 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 restrictions 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 2024 Accounting policies (contlnued) Incomlng resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this Is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received-if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Re8ources 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 charitsble activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned be￿een the activities they contribute to on a reasonable, justifiable and consistent basis. Tanglble assets All fixed assets are initially recorded at cost. Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Statements Icontinued) Year ended 31 March 2024 Accounting policies (continued) 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 % straight line 250k reducing balance 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 the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units, Flnancial 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. Where 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. All other such investments are subsequently measured at cost less impaimient. 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. Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Statements fcontinued) Year ended 31 March 2024 Accounting policies (contlnued) Financial Instruments (contlnuedj 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 eviden￿ of impairment, an impairment loss is recognised under the appropriate heading in the ststement 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 characterists'cs. 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 p￿vioUSlY been recognised. Llmited by guarantee The company is limited by guarantee. Donatlons and lègaci88 Unrestricted Funds Restricted Total Funds Funds 2024 Donations Causeway Coasts and Glens Council Grants Trusthouse Donations WELB & Afterschool fees Destined Ltd Other Income Garfield Western Community Foundation Foyle Foundation 6,500 6,500 524 3,279 120 677 19,000 2,500 524 3,279 120 677 19,000 2,500 32,600 32,600 Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Donations and legacies (contlnued) Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Causeway Coasts and Glens Council Grants Trusthouse Donations WELB & Aftenschool fees Destined Ltd Other Income Garfield Western Community Foundation Foyle Foundation 6,124 1,836 6,124 8,011 6,175 1,600 200 1,332 19,500 1,600 200 1,332 19,500 2,500 5,000 2,500 5,000 35,592 8,675 44,267 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Cost of raising donations and legacies Support costs 6,874 49,715 56,589 6,874 49,715 56,589 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 Expenditure on charitable activlties by actlvity type Grant funding of activities Support costs Total funds 2024 Total fund 2023 Cost of raising donations and legacies Governance costs 6,874 6,874 49,715 56,589 9,616 55,786 65,402 49,715 49,715 6,874 10- Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Analysis of grants 2024 2023 Grants to institutions Grants to institutions 6,874 6,874 9,616 9,616 Total grants Net &xpendStur8 Net expenditure is stated after chargingl(crediting).' 2024 2023 Depreciation of tangible fixed assets 21,689 21,704 10. Independent examlnatlon fees 2024 2023 Fees payable to the independent examiner for.. Independent examination of the financial statements 1,025 1,000 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2024 2023 Wages and salaries 21,580 27,803 The average head count of employees during the year was 1 (2023: 2). The average number of full-time equivalent employees during the year is analysed as follows.. 2024 No. 2023 No. Number of staff No employee received employee benefits of more than £60,000 during the year (2023: Nil). 12. Trustee remuneration and expenses There was no trustee remuneration paid during the year ended 31 March 2024. 11 Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 31 March 2024 13. Tangible fixed assets Land and Fixtures and buildings fittings Total Cost At 1 April 2023 Additions 264,834 11,835 100 276,669 100 At 31 March 2024 264,834 11,935 276,769 Depreclatlon At 1 April 2023 Charge for the year At 31 March 2024 240,835 21,547 262,382 11,369 142 252,204 21,689 11,511 273,893 Carrying amount At 31 March 2024 2,452 23,999 424 2,876 24,465 At 31 March 2023 466 14. Debtors 2024 2023 Other debtors 213 185 15. Credltors: amounts falllng due wlthln one year 2024 2023 Bank loans and overdrafts Accruals and deferred income other creditors Other creditors 189 1,244 8,871 1,080 11,384 1,000 9,229 1,364 11,593 12- Feeny Community Association Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 16. Analysis of charltsble funds Unrestricted funds At 1 April 2023 At Income Expenditure 31 March 2024 General funds 15,594 32,600 (56,589) (8,395) At 1 April 2022 At Income Expenditure 31 March 2023 General funds 36,729 35,592 (56,727) 15,594 Restricted funds At 1 April 2023 At Income Expenditure 31 March 2024 General Funds 15,539 15,539 At 1 April 2022 At Income Expenditure 31 March 2023 General Funds 15,539 8,675 (8,675) 15,539 17. Analysls of net assets between funds Unrestricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 2,876 15,652 (11,384) 7,144 2,876 15,652 (11,384) 7,144 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 13-