Company registration number.. N1036582 Charity registration number.. N ICL 32568 Taylorstown Cross Community Complex Ltd (A company limited by guarantee) Annual Report and Financial Statem¢nts for the Year End¢d 31 August 2023 D T Carson & Co. 51-53 Thomas Street Ballymena Co. Antrim B T43 6AZ IIIIMl *AD28XCJ7•- 0310512024 COMPANIES HOUSE A11
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Taylorstown Cross Community Complex Ltd Contents Reference and Administrative Details Trust¢e5' Report Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements 7t013
Taylorstown Cross Community Complex Ltd Referenee and Administrative Details Trustees Sarah Scullin Finola Swann Lesley Wilson Lesley Wilson Seeretary Charity Reglstration Number 32568 Compsny Reglstratlon Number N1036582 Princlpal Office 71 Taylorstown Road Toomebridge Antrim BT413RW Independent Examiner D T Carson & Co. 51-53 Thomas Street Ballymena Co. Antrim BT43 6AZ Bankers Danske Bank 42 High Street Antrim Co Antrim BT414AP Page I
Taylorstown Cross Community Complex Ltd Trustees, Report The trustees, who are directors for the purpose5 of company law, present the annual report together with the financial stalements of the charitable company for ihe year ended 31 August 2023. Objectives and activities Objecls and aims The company is a registered charity which seeks to promote the development and education among pre-school children, including the provision of play facilities. in the area. Publlc beneJ71 The trustees confirm that they havc complied with the requirements of ihe Charities Act (Northem Ireland) 2008 lo have due regard to the public benefit guidance published by the Charity Commission for Northern Ireland. Achievements and performance The main achievement of Taylorsiown Cross Community Complex Ltd has been il's ability to continue to raise Ihe necessary fund5 to promote educalion among pre-school children in the area, Financi41 review The financial results for the year are sel out in the financial statements accompanyin8 thi$ report. Pollcy on reserves The charity aims to use their in¢ome in furtheran¢e of their objectives and any amounts in th¢ unrestricled funds re held lo meet any unfor5een expenditure that May occur. Princlpolfundlng sources The principal funding is received from The Education Authority. Plans for future periods Alms and key objecilvesforfulure perlods The Charity aims to continue the activities, as outlined above, in the forth¢oming year. Trustees and offletrs The trustees and officers serving during the year and since the year end were as follows.. Trustees.. Sarah Scullin Finola Swann Lesley Wilson Secretary: Lesley Wilson Structure* governance and mgnagemenl Nalure ofgoverning documenl Taylorstown Cross Con]unIty Complex is a company limited by guaranlee and i5 also a registered charity. For the purposes of Charity Law, the directors are trustees of the Charity. Page 2
Taylorstown Cross Community Complex Ltd Statement of Trustees, Responsibilities The trustees (who are also the directors of Taylorstown Cross Community Complex Ltd for the purposes of ompany law) are responsible for preparing the trustees, report and the financial stalements in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the truslees to prepare financial sthtemenls for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied Ihat they give a true and fair view of the state of affairs of the charitable company and of the incoming r¢sources and application of resource5, including its income and expendirure, of the charitable company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and apply them consisiently; observe the methods and principles in the Charities sorip. make judgements and estimates that are reasonable and prudent; state wheiher applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charirable company will continue in business. The trustees are responsible for keeping propeT accounting records thai can disclose with reasonable accuracy at any lime the financial position of the charitable company and enable them to ensure thai the financial statements comply with the Compani¢s Act 2006. They are also responsible for safeguarding the assels of the Charitable company and hence for taking reasonable steps for the prevention and detection of fraud and oiher IegUlarItIeS. The trustees are responsible for Ihe mhintenance and integrity of the corporale and financial Infonnalion included on the ¢hariiable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approved by the truslces of Ihe charity on 22 April 2024 and signed on its behalf by: L....w.Al.s.cfi.: Lesley Wilson Company secrethry and trust¢¢ Page 3
Taylorstown Cross Community Complex Ltd Independent Examiner's Report to the trustees of Taylorstown Cross Community Complex Ltd ('the Company,) I report to the charity trustees on my examinalion of the accounts of the Company for the year ended 31 August 2023. Responslbilities and basis of report As the charity's trustees of Taylorstown Cross Community Complex Ltd (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordanc¢ wilh the requiremenis of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself ihal the accounts of Taylorstown Cross Community Complex Ltd are not required to be audited under Part 16 of Ihe 2006 Act and are eligible for independent examination, I report in re5pec¢ of my examination of your charity's accounts as carried out under section 65 of the Charities Act (Northern Ireland) 2008. In carrying Out my examination I have followed the Direciions given by the Charity Commission for Northern Irelhnd under section 65{9)(b) of Ihe Charities Act, Independent examiner's st8temtnt I have completed my examination. I confim thal no matters have ¢ome to my attention in connection wilh the exarninalion giving me Cause lo believe.. l. accounting records were not kept in respect of Taylor5town Cross Community Complex Ltd as required by section 386 of the 2006 Act. or 2. the a¢counts do not accord with those records- or 3, the accounts do noi ¢omply with th¢ a¢¢ounting requtremenis of section 396 of Ihe 2006 A¢1 other than any requirement thai the accounts gFve a 'true and fair view, which is not a matter considered as part of an independent examination. or 4. the accounts have not been prepared in accordance with the methods and principles of the Slatement of Recommended Practice for accountin8 and reporting by charities lapplicable lo charities prepartng their accounts in accordance with th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concern5 and have come arr055 no other matters in connection wilh the examination lo which attention should be drawn in this report in order to enable a proper understanding of Ihe accounts to be reached. Mr Jarnes Wallace The Institute of Chartered Accouniants in Ireland 51-53 Thomas Street Ballymena Co. Antrim BT43 6AZ 22 April 2024 Page 4
Taylorstown Cross Community Complex Ltd Statement of Financial Activities for the Year Ended 31 August 2023 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestrieted funds Restricted funds Total 2023 Note Income and Endowrnents from: Charitable activities 84.571 84,571 Total income 84,571 84,571 Expendlture on: Charitabl¢ aclivilies 98.100 98,100 Total expenditure 98,100 (98,100 Net expendilure Net movement in funds 13.529 {13,529 (13,529) {13,529) Reconciliation of funds Total funds brought forward Total funds carried forward 32,615 19,086 Unrestricted funds ,343 12 ,343 R¢slricted funds 20.429 Total 2022 Note Income and Endowments from: Charitable activities 66,852 Total income 66,852 66.852 Expenditure on: Charilable activities 77,448 (77,448 Total expenditure Net expendilure (77,448 77,448) 10,596 10.596) Net movement in funds {10,596) (10,596) Reeoncilialion of funds Total funds brought forward Total funds carried forward 43,212 ,343 44,555 12 32,616 1,343 33,959 All of the charity's activities derive from continuing operations during the abov¢ two period5. The fijnds breakdown for 2022 is shown in note 12. The notes on pages 7 to 13 forni an integral part of these financial staiements. Page 5
Taylorstown Cross Community Complex Ltd (Registration number: N1036582) Balance Sheet as at 31 August 2023 2023 2022 Note Fixed assets Tangible assets 47,420 53,720 Current a55ets Stocks Debtors Cash at bank and in hand 717 823 2,801 1,706 691 12,797 10 4,341 15,194 Credltors: Amounts fglling du¢ within one year 31,332 (34,955 Net ¢urrent liabilities 26,991 19,761 Net assets 20,429 33,959 Funds ofthe charity: Re$trlcted income funds Restricled funds ,343 1,343 Unrestricted income funds Unrestricled funds 19,086 32,616 Total funds 12 20,429 33,959 For the financial year endin8 31 August 2023 the charity was entiiled io exemption from audit under section 477 of the Companies Arl 2006 relating to small ¢ompani¢s. Directors, responsibilities.. The members have not required the charity to obiain an audit of its accounts for the year in question in accordance with section 476- and Th¢ directors acknowledge their responsibilities for complying with the requirements of the Act with resp¢¢t to accounting records and the preparalion of accounts. The financial statem¢nts on page5 5 to 13 were approved by ih¢ trusle¢s, and authorised for issue on 22 April 2024 and signed on th¢ir behalf by.. la Swann stee The notes on pages 7 to 13 fonn an integral part of these financial statements. Page 6
Taylorstown Cross Community Complex Ltd Notes to the Financial Statements for the Year Ended 31 August 2023 I Charlty slalus The charity is limited by guaranlee, incorporated in Northem Ireland. and consequently does nol have share capital. Each of th¢ trustees is liable to contribute an amouni not exceeding £1 towards ihe assets of the charity in the event of liquidation. The address of its registered office is: 71 Taylorsiown Road Toomebridge Antrim BT413RW These financial statements were authorised for issue by the trustees on 22 April 2024. 2 Aeeounting polieles Summary of significant aecounting polities and key 9ceountlng es¢lmates The principal accounting policies applied in the preparation of these financial statements are sel out below. These policie5 have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance The financial statements have been prepared in accordance with Accounling and Reporting by Charities: Statement of Recommended Practice applicable lo charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015) - (Chariiies SOIiP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act (Northern Ireland) 2008. Basls of preparatlon Taylorstown Cross Community Complex Lid m¢ets the definilion of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cosi or transaction value unless otherwis¢ siaied in the relevant accounting policy noles, Going concern The trustees consider that there are no maierial uncertainties about the ¢harity'$ ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity. Exemption from preparing a cash flow stalement The charity opled to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial statements. Income and endowments All income is recognised once Ihe charity has entiilemenl to the income. it is probabl¢ that the income will be re¢¢ived and the amount of the income r¢¢eiv¢able Can be measured reliably, Page 7
Taylorstown Cross Community Complex Ltd Notes to the Financial Statements for the Year Ended 31 August 2023 Granls receivable Grants are recognised when the charity has an entitlement to Ihe funds and any conditions linked io th¢ grants have been mel. Where perforniance conditions are attached to ihe grant and are yet lo be rnet, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Expenditure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probabl¢ settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannoi be directly attributed to particular headings they have been allocaled on a basis consislent with the use of resources. with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. her support costs are allocaied based on the spread of slaff costs. Cliorilable acilvliles Chariiable expenditure comprises those costs incurred by the charity in the delivery of 115 activities and services for its beneficiaries. It includes both costs that can be allocated direclly to such aclivilies and those ¢0515 of an indirect nature necessary to support them. Government granls Government grants are recognised based on the accrual model and are measured al Ihe fair value of the a5sel received or receiveable. Grants are classified as relating eilher lo revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are retognised. Grants relating to assets are recognised over the expected useful life of ihe asset. Taxation The charity is considered to pa5S the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and Iherefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is poientially exempt from laxation in respect of income or capital gains received within categories covered by Chapter 3 Part I l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed 8$s¢t$ Individual fixed assels are initially recorded at C05t, less any subsequent accumulated depreciation and subsequent accumulated impainnenl losses. Depreciation gnd arnortisation Depreciation is provided on tangible fixed a55els so as to WTite off the cost or valuation, less any ¢stimaled residual value, over Iheir expected useful economic life as follows.. Asset class Plant & machinery FixtseS & fittings Land & buildings Depreciation method and rale 20 % straight line 200/0 straight line 4 % straight line Stock Slock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow moving stock5. Cost is deterniined using the first-in, fir5t-oul (FIFO). Page 8
Taylorstown Cross Community Complex Ltd Notes to the Financial Statements for the Year Ended 31 August 2023 Fund structure Unrestricted income funds are general funds thai are available for use at the truslees discretion in furtherance of the objectives of the charity. Restricted incomc funds are ihose donated for use in a parti¢ular area or for specific purposes, the use of which is restricted to that area or purpose. 3 Intome from charitable activities Unre5trieted funds General Tolal 2023 Total 2022 Education Authority- pre-school funding NHSCT & BSO milk grant Education Authority- SUPPOrt National Lottery Community Fund Fees Fundraising Other income Bank interest received 49,374 262 4,305 10,000 16,216 4,341 49,374 262 4,305 10,000 16,216 4,341 50,025 200 5,368 10,263 973 64 64 15 84,571 84,571 66.852 Page 9
Taylorstown Cross Community Complex Ltd Notes to the Financial Statements for the Year Ended 31 August 2023 4 Expenditure on charitablt aetivlties Charilable activity Costs Total 2023 Total 2022 Wages & salaries EY specialist Staff training Water rates Light, heat & power Insurance Repairs & maintenance Work materials & a¢tivity expenses Telephone Website maintenance & design Printing, postgge & stationery Sundry expenses Accountancy & bookkeeping fees Pension administration expense Fundraising cosls Bank char8es Deprecialion Government grants released 65,856 1,440 10 505 1,596 1,440 14,951 1,053 1,096 220 213 4,800 ,797 250 14 55 6,300 (3,496) 98,100 65,856 1,440 10 505 1,596 1,440 14,951 ,053 1,096 220 213 4,800 1,797 250 14 55 6,300 (3,496) 98,100 51,603 ,440 2,353 480 1,715 ,345 4,513 1,496 951 673 562 5,063 1,716 500 21 6,513 3,496 77,448 Page 10
Taylorstown Cross Community Complex Ltd Notes to the Financlal Statements for the Year Ended 31 August 2023 S Net ineomingloutgoing resources Net outgoing resources for the year include.. 2023 2022 Depreciation of fixed assets Government grants r¢l¢ased 6,300 3,496 6,513 3.496 6 Taxation The charity is a registered charity and is therefore exempt from taxation. 7 Tanglble flxed assets Land and buildings Furniture and Other tanglble equipment rixed asset Tot•1 Cost At I September 2022 139,981 54,111 1,538 195,630 At 31 August 2023 139,981 54,111 1,538 195,630 Depreciation At I Sepl¢mb¢r 2022 Charge for the year 88,081 5,599 52,291 701 1,538 141,910 6.300 At 31 August 2023 93,680 52,992 1,538 148,210 Net book value At 31 August 2023 46.301 1,119 47.420 At 31 Augusi 2022 51,900 1,820 53,720 Included within the net book value of land and buildings above is £46,301 (2022 £51,900) in respect of freehold land and buildings and £Nil (2022 - £Nil) in respect of leaseholds. 8 Stoek 2023 2022 Siocks 717 1,706 Page I
Taylorstown Cross Community Complex Ltd Notes to the Financial Statements for the Year Ended 31 August 2023 9 Deblors 2023 2022 Prepayments Other debtors 561 262 536 155 823 691 10 Cash and cash egulvalenls 2023 2022 Cash at bank Short-term deposits 863 1,938 2,915 9,882 2,801 12,797 I I Credltors: amounls falling due within one year 2023 2022 Accruals Deferred income ,457 29,875 1,584 33,371 34,955 31,332 12 Fundg Balance ai I September 2022 Incoming resources Resources expended Balance at 31 August 2023 Unreslricted funds General 32,615 84,571 (98,100) 19,086 Restricted funds ,343 1,343 Total funds 33,958 84,571 (98,100) 20,429 Page 12
Taylorstown Cross Community Complex Ltd Notes to the Financial Statements for the Year Ended 31 August 2023 Balanee al I September 2021 Jncoming resource$ Resources expended Balance at 31 August 2022 Unrestrlcted funds General 43,212 66.852 (77,448) 32,616 Restrieted funds ,343 1,343 Total funds 44.555 66,852 Page 13