COMPANY REGISTRATION NUMBER: N135768 CHARITY REGISTRATION NUMBER: NIC103094 Benedy Community Association Limited Company Limited by Guarantee Unaudited Financial Statements 31 March 2023 PFS ACCOUNTANTS AND AUDITORS LTD Chartered Certified Accountants 122 Main Street Dungiven Co Derry BT47 4LG Benedy Community Association Limited Company Limited by Guarantee Financial Statements Year ended 31 March 2023 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 Benedy 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 administrative details Registered charity name Benedy Community Association Limited Charity registration number NIC103094 Company registration number N135768 Principal office and registered 72 Corrick Road office Dungiven Co Derry BT47 4SG The directors Cormac Mccloskey Sabina O'Kane Sean O'Kane Independent examiner PFS Accountants and Auditors Ltd 122 Main Street Dungiven Co Derry BT47 4LG Structure, governance and management Benedy Community Association Limited is a company limited by guarantee and accepted as charitable by HMRC. The company was incorporated on 5 March 1999.The company was established under a Memorandum of Association which established the objects and powers of the company and is governed by its Articles of Association. The board consists of the three directors. Objectives and activities Benedy Community Association's purpose is to help relieve povety, sickness and the aged and to promote the benefit of the inhabitsnts of the Benedy area of Co. Derry and its environs {hereinafter described as "the area of benefit") without distinction of age, sex, race, political, religious or other opinion, by associating the statutory authorities, voluntary organisations and inhabitants in a common effort to advance education, and to provide facilities in the interests of social welfare for recreation or other leisure-time occupation, with the object of improving the conditions of life for the said inhabitants. Financial review During the year the company made a net loss of £5,814, this is shown on page 4 to the accounts. Benedy Community Association Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {¢ontinued) 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 29th June 2023 and signed on behalf of the board of trustees by.. Sabina O'Kane Director Benedy Community Association Limited Company Limited by Guarantee Independent Examiner's Report to the S of Benedy Community Association Limited Year ended 31 March 2023 I report to the trustees on my examination of the financial statements of Benedy 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 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(91(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 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 Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard 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 understanding of the accounts to be reached. PFS Accountants and Auditors Ltd independent Examiner 122 Main Street Dungiven Co Derry BT47 4LG 29th June 2023 Benedy Community Association Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and legacies Investment income Other income 28,951 28 27,178 56,129 28 12,740 10 1,491 Total income 28,979 27,178 56,157 14,241 Expenditure Expenditure on charitable activities Other expenditure Total expenditure 27,682 7,000 34,682 27,289 54,971 7,000 32,221 27,289 61,971 32,221 Net expenditure and net movement in funds (5,703) (111) (5,814) (17,980) Reconciliation of funds Total funds brought fomard Total funds carrred forward 30,437 62,471 92,908 110,888 24,734 62,360 87,094 92,908 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 S to 13 fonn part of these financial statsments. Benedy Community Association Limited Company Limited by Guarantse Ststement of Financial Position 31 March 2023 2023 2022 Note Fixed assets Tangible fixed assets 15 73,819 85,889 Current assets Debtors Cash at bank and in hand 16 1,203 12,972 7,835 14,175 7,835 Creditors: amounts falling due within one year Net current assets 17 900 816 13,275 87,094 7,019 Total assets less current liabilities Net assets 92,908 92,908 87,094 Funds of the charity Restricted funds Unrestricted funds 62,360 24,734 62,471 30,437 92,908 Total charity funds 18 87,094 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 financial statements were approved by the board of trustees and authorised for issue on 29th June 2023 and are signed on behalf of the board by.. Sabina O'Kane Director The notes on pages 6 to 13 forni part of these financial statements. Benedy Community Association Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 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 72 Corrick Road, Dungiven, Co Derry, BT47 4SG. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Stsndard 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 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 fcators 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 charity's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. Restricted fvnds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes: restricted income funds or endowment funds. Benedy Community Association Limited Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 31 March 2023 Accounting policies (continued) Incoming 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 estsblished. 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