COMPANY REGISTRATION NUMBER: N1044042 CHARITY REGISTRATION NUMBER: NIC103077 Brackaghreilly and District Community Association Limited Company Limited by Guarantee Unaudited Financial Statements 30 September 2024 PFS ACCOUNTANTS AND AUDITORS LTD Chartered Certified Accountants 122 Main Street Dungiven Co Derry BT47 4LG
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Financial Statements Year ended 30 September 2024 Page Trustees, annual report (incorporating the director's report) Chartered certified accountants report to the board of trustees on the preparation of the unaudited statutory financial statements Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not form part of the financlal ststements Detailed statement of financial activities 15 Notes to the detailed statement of financial activities 16
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 30 September 2024 The trustees, who are also the directors for the purposes of company law, present thelr report and the ynaudited financial statements of the charity for the year ended 30 September 2024. Reference and admlnistratlve detalls Reglstered charlty name Brackaghreilly and District Community Association Limited Charlty reglstratlon number NIC103077 Company reglstratlon number N1044042 Principal offlce and reglstered 2 Ranaghan Lane offlce Maghera BT46 SJZ Co Derry The tru8tee8 Mr Peter M¢Kenna Mr Danny Gallagher Mr Frank McKaigue Mr Hugh McKenna Accountants PFS Accountants and auditors Ltd Chartered Certified Accountants 122 Main Street Dungiven Co Derry BT47 4LG Structure, governance and management The company was incorporated on 5 September 2002 and was established under a Memorandum of Association which establishes the objects and powers of the company and is governed under the Articles of Association. The company currently has five directors who manage it. Objectlves and actlvltles The objects of the Company is to promote the benefit of the inhabitants of the area of Brackaghreilly and its environs (the 'area of benefit") without distinction of sex, race or political, religious or other opinions by associating with the statutory authorities, voluntary organisations and inhabitants in a common effort to relieve povety, advance education, preserve and protecl health and provide facilities in the interests of social welfare for recreation and other leisure time occupations with the object of improving the conditions of life for the said inhabitants. Achlevements and performance During the year ended 30 September 2024 the company raised £2,880 from youth and drama clubs and holding card nights. The company also received a grant from Mid Ulster Council which was towards the costs of lighting and heating of the hall. Each year the company aims to raise enough funds to cover its overheads.
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) fconllnuedj Year ended 30 September 2024 Flnancial review During the year ended 30 September 2024 the company made a net loss of £551 (2023.. Loss £923). Small company provlslons 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 20 June 2025 and slgned on behalf of the board of trustees by; Mr Peter McKenna Trustee
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Chartered Certified Accountants Report to the Board of Trustees on the Preparation of the Unaudited Statutory Financial Ststements of Brackaghreilly and District Community Association Limited Year ended 30 September 2024 As described on the slatement of financial position. the trustees of the charity are responsible for the preparation of the financial statements for the year ended 30 September 2024, which comprise the statement of financial activities (including income and expendilure account), statement of financial position and the related notes. You consider that the charity is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these financial ststements in order to asslst you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us. PFS ACCOUNTANTS AND AUDITORS LTD Chartered Certified Accountants 122 Main Street Dungiven Co Derry BT47 4LG 20 June 2025
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 30 September 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities 285 285 2,880 785 2,800 3,585 2,880 Total income 2,880 285 3,165 Expendlture Expenditure on charitable activities Total expendlture 3,431 3,431 285 3,716 4,508 4,508 285 3,716 Net expendlture and net movement In funds (551) {551) (923} Reconcillatlon of funds Total funds brought forward Total fund8 carrled forward 134,158 800 134,958 135,882 1343.607 800 134,407 134,958 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 form part of these financial statements.
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Statement of Financial Position 30 September 2024 2024 2023 Note Flxed assets Tangible fixed assets 13 136,866 136,866 Current assets Cash at bank and in hand 659 1,197 Credltors: amounts falllng due wlthln one year Net current Ilabllltles 14 3,118 3,105 1,908 134,958 2,459 Total assets less current Ilabllltle$ 134,407 Net a8set8 134,407 134,958 Funds of the charlty Unrestricted funds 134,407 134,958 134,958 Total charlty fund8 15 134,407 For the year ending 30 September 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Dlrectors, responslbilltles.. 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 appllcable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 20 June 2025, and are signed on behalf of the board by.. Mr Peter McKenna Trustee EL M. y£vL>- The notss on pages 6 to 13 form part of these financial statements.
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 30 September 2024 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 2 Ranaghan Lane, Maghera, BT46 5JZ, Co Derry. Statement of compllance 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. Accountlng pollcles Basls of preparatlon 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. Golng concern There are no material uncertainties about the charity's ability to continue. Judgements and key sources of estlmatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounls 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 trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes- restricted income funds or endowment funds.
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Notes to the Financial Ststements (contlnued) Year ended 30 September 2024 Accountlng pollcles fcontlnued) Incomlng resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charily. 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 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 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 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 charily 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 activily. Shared costs are apportioned belween 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 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 losses.
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Notes to the Financial Statements {¢ontlnued) Year ended 30 September 2024 Accounting pollcles fcontlnuod) Tangible assets fcontlnu•d) An increase in the carrying amount 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 asset as a result of revaluation, is recognised in other recognised 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. Depreclatlon Depreclation 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: 100/0 Straight line Fixtures and fittings Impalrment of flxed asset8 A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Ihlhere 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 recoverabl8 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 generales cash inflows that largely independent of the cash inflows from olher 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. Flnanclal 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.
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Notes to the Financial Statements {contlnued) Year ended 30 September 2024 Accountlng policles (contlnuedj Flnanclal Instruments (contlnued) 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 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. Flnancial 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 indivldually or grouped on the basis of similar credit risk character Istics. 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. Llmlted by guarantee The company has no share capltal and is a company limited by guarantee. Donatlons and legacles Restricted Total Funds Funds 2024 Restricted Total Funds Funds 2023 Grants MUDC 285 285 785 785 285 285 785 785
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Notes to the Financial Ststements {contlnued) Year ended 30 September 2024 Charltable activltles Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Income from youth I drama clubs and activity classes 2,880 2,880 2,800 2,800 Expendlture on charltable act5vltles by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Overheads 3,431 285 3,716 Unrestricted Funds Restricted Total Funds Funds 2023 Overheads 3,723 785 4,508 Expendlture on charltable a¢tlvltle8 by actlvlty type Activities undertaken Total funds directly 2024 Total fund 2023 Charitable activies 3,716 3,716 4,508 Net expendlture Net expenditure is stated after chargingl{crediting): 2024 2023 Depreciation of tangible fixed assets 71 10. Independent examlnatlon fees 2024 2023 Fees payable to the Independent examiner for: Independent examination of the financial statements 589 528 10
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 September 2024 11. Staff costs The average head count of employees during the year was Nil (2023: Nil). No employee received employee benefits of more than £60,000 during the year {2023'. Nil). 12. Trustee romuneratlon and expense8 None of the trustees received remuneration during the year ended 30 September 2024 13. Tanglble flxed assets Freehold Fixtures and propety fittings Total Cost At l October 2023 and 30 September 2024 Depreclatlon At 1 October 2023 and 30 September 2024 Carrylng amount At 30 September 2024 At 30 September 2023 207,131 16,483 223,614 70,265 16,483 86,748 136,866 136,866 136,866 136,866 14. Credltors: amounts falllng due wlthln one year 2024 2023 Trade creditors Accruals and deferred income Other creditors 2,289 589 240 2,289 576 240 3,118 3,105
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Notes to the Financial Ststsments (contlnuod) Year ended 30 September 2024 15. Analysls of charltable funds Unrestrlcted funds At 1 October 2023 At 30 September 2024 Income Expendllure General funds 134,958 2,880 (3,431) 134,407 At 1 October 20 22 At 30 Septembe r 2023 Income Expenditure General funds 135,881 2,800 (3,723) 134,958 12
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 30 September 2024 15. Analysis of charltable funds (contlnued) Restrlcted funds At 1 October 2023 At 30 Sèptember 2024 Income Expendilure Restricted Fund 1- desc in alcs 285 (285) At 1 Oclober 2022 Al 30 September 2023 Income Expendllure Restricted Fund 1- desc in alcs 785 (785) 13
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Management Information Year ended 30 September 2024 The followlng pages do not fomi part of the flnanclal statements. 14
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Detailed Ststement of Financial Activities Year ended 30 September 2024 2024 2023 Income and endowments Ponatlons and legacles MUDC 285 785 285 785 Charltable actlvltles Income from youth I drama clubs, cards and activity classes 2,880 2,800 Total Income 3,165 3,585 Expendlturo Expendlture on charltable actlvltle8 Rates and water Light and heat Insurance Other office costs Depreciation Accountancy Bank Charges 386 829 1,652 113 366 1,632 1,572 19 71 715 133 602 134 3,716 4,508 Total expendlture 3,716 4,508 Net expendlture (551) (923) 15
Brackaghreilly and District Community Association Limited Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 30 September 2024 2024 2023 Expendlture on charitable actlvltles Actlvlty type 1 Actlvltles undertaken dlrectly Rrates & water Light & heat Insurance Other office costs Depreciation Accountancy Bank charges 386 829 1,652 113 366 1,632 1,572 19 71 715 133 602 134 3.716 4,508 Èxpendlture on charltable actlvltles 3,716 4,508 16