Donemana Cultural Association Limited (Company limited by guarantee) Trustees, report and financial statements for the year ended 31 July 2024 Company registration number: N1069847 Northern Ireland Charity number: NIC103583 McFarland Arnold & Co Chartered Accountants
Donemana Cultural Association Limited (Company limited by guarantee) Contents for the year ended 31 July 2024 Page Legal and administrative information Trustees, report Accountant's report to the trustees Slalement of financial activities Balance sheet Notes to the financial statements 8-14
Donemana Cultural Association Limited (Company limited by guarantee) Legal and administrative information for the year ended 31 July 2024 Legal status The company is a private limited company, limited by guarantee, which was incorporated on 3 July 2008 under the Companies (Northeim Ir¢land) Order 1986 undei. Registration Number N1069847. It is also recognised as a charity by the HM Revenue & Customs under Reference Number XT21191. The company is a registered charity with ihe Charity Commission for Northern Ireland since 3 November 2015 under registration number NIC103583. Trustees Mr Albert Allen Mrs Sandra Allen Mr Thomas Allen Mr William Anderson Mr Allan Bresland Mr Keith Buchanan Mr Colin Campbell Mr Ken Colhoun Mr Alastair Mcmichael Mr Ian Mcmichael Mr Ernest Robinson Mrs Kathleen Rodgers Mr Mervyn Rodgers Mrs Daisy Watt Secretary Mr Colin Campbell Company number N1069847 Registered 0]¢¢ 77 Dunnyboe Road Donemana Strabane Co Tyrone BT82 ORB Accountants McFarland Arnold & Co 8 Main Street Newtownstewart Omagh Co Tyrone BT78 4AA Business address 77 Dunnyboe Road Donemana Strabane Co Tyi'one BT82 ORB Bankers Allied Irish Bank (NI) Meadow Bank Strand Road Londondery BT48 7TN Page I
Donemana Cultural Association Limited (Company limited by guarantee) Trustees, report for the year ended 31 July 2024 The Trustees present their report and the financial stateinenls for the year ended 31 July 2024. Directors Officers of the coinpany, known as directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this I'eport are set out on page l of the financial statements. Members of the charitable company guarantee to contribute an amount not exceeding £ I to the assets of the charitable company in the event of winding up. Charitable objects The prlnciple activity of the charitable company is to provide a community facility in the village of Donemana, accessible to all local groups. In doing so they aim lo achieve greater cross community contact, improve community relations and a greater und¢rslanding and tolerance of ihe cultural history of the area of Donemana. Donemana Cultural Association Limited is a registered charity with the Charity Commission for Northern Ireland since 3 November 2015, under registration number NIC103583. Organisational structure The day to day management of the charitable company is carried out by the Chaimian and Treasurer, supported and overseen by th¢ other trustees. Review of activities and achievements The Statement of Financial Activities on page 5 of the financial statements sets out th¢ results for the year. The purpose of ihe funds are outlined in the notes to the financial slatements. The chai'itable company is currently developing a local history museum and aims to mai'ket this once it becomes llY operational. It continues to attract intei'est from the local community and are currently working on a number of projects to enhance the building for community use. The considered view of the trustees is ihat, after making enquiries, Ihey have a reasonable expectation that the charitable company will have adequate resources available to finance its trading and other obligations for the foreseeable ture. The trustee5 are not aware of any events likely to occur in the twelve months following the sate of the approval of the financial statements that may impact on the charitable company's ability to continue as a going concern. We believe that it is therefore appropriate for the charitable company's financial statements for the year ended 31 July 2024 to have been prepared on a going concern basis. Reserves The Statement of Financial Acttvities on page 5 of the financial statements sets out the results for the year. The purpose of the funds ar¢ outlined in the notes to the financial slatements. Taxation The charitable company is accepted as a charity by HM Revenue & Customs under reference XT21191 and therefore is ¢xempt from corporation tax. Statement of trustees, responsibilities The Trustees are responsible for prepai'ing Ihe Trustees, Report and the financial slalem¢nts in accordance with applicable law and regulations. Page 2
Donemana Cultural Assoeiation Limited (Company limited by guarantee) Trustees, report for the year ended 31 July 2024 Company law and charity law requires the Trustees to prepare Iinancial stateinents for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kingdom Generally Accepted Accounting Practice) including 'Accounting and Reporting by Charities.. Statement of Recommended Practice, {FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,). Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of Ihe company and of the surplus or deficit of the company for that year. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently; make judgements and estimates that are reasonable and prudent. state whether applicable accounting standards and statements of recommend¢d practice have been followed subject to any 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 charity will continue in business. The trustees have overall responsibility for ensuring that the charily has appropriate system of controls, financial and oth¢nvise. They are also responsible for keeping proper accounting i'ecords which disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hen¢¢ for taking reasonable steps for the prevention and detection of fraud and other irregularities. Accountants The Irustees recommend that McFarland Arnold & Co remain in office until further notice. Special provisions relating to small companies This report has been prepared in accordance with Slalement of Recommended Practice.. Accounting and Reporting by Charities (FRS 102) and in accordance with ihe special provisions of Part 15 of the Companies Act 2006 relating to small entities. This report was approved by the truste¢s on 17 ID2.5 and signed on its behalf by Signature: Name (in block capitals): f H H Arlilp Trustee Page 3
Donemana Cultural Association Limited (Company limited by guarantee) Accountants, report on the unaudited financial statements to the trustees of Donemana Cultural Association Limited for the year ended 31 July 2024 In order to assist you to lfIl your duties under th¢ Companies Acl 2006, we have compiled the financial statements of Donemana Cultural Association Limited for the year ended 31 July 2024 as set out on pages 5 to 14, which comprise the statement of financial activftties, the balance sheet and the related notes from the accounting records and information and explanations you have given to us. This report is made to the company's board of trustees, as a body, in accordance with the tern]s of our engagement. Our work has been undertaken so that we maight compile the financial statements that we have been engaged to compile, report to the company's board of ts'ustees that we have done so, and stale those matters that we have agreed to state to them in this report and for no other person. To the fullest extent permitted by law, we do not accept or assume r¢sponsibility to anyone other Ihan the company and the company's board of directors. as a body, for our work or for this report. Respeetlve responsibilities of the trustees and accountants As described in the statement of trustees, responsibilities the companys trustees (who also act a5 directors for the chai'ilable activities of Donemana Cultural Association Limited) are responsible for ¢nsuring that the company maintains proper books of account and foi. pi'¢paring financial statements which give a true and fair view and hav¢ been properly prepared in accordan¢¢ with the Companies Act 2006. You are responsible for deciding, on an annual basis, whether the company is entitled to avail of the ¢xemption from statutory audit in accordance with Section 477 of the Companies Act 2006. It is our responsibility to compile the financial statements of Donemana Cultural Association Limited from the accounting resords, infomiation and explanations supplied to us by ihe company. Basis of opinion Our work was conducted in accordance with the Statement of Standards foi. Reporting Accountsnts, and so our procedures consisted of comparing the financial statements with the accounting records kept by the company, and making such limited enquiries of the officers of the company as we considered necessary for the pUos¢S of this report. Th¢se procedures provide only the assurance expressed in our opinion. S¢ope of work We have compiled the financial statements in accordance with the ICAI Miscellaneous T¢chni¢al Statement "Chartered Accountanls Reports on the Compilation of Financial Statements of Incorpoi'ated Entities" M41- from the accounting records, infoiThation and explanations supplied to us by the company. We have not been instructed lo carry out an audit of these financial statements. For this reason, we have not verified ihe accuracy oi. completeness of the accounting records or infomiation and explanations you have given to Us and we do not, therefore, express any opinion on the financial statements. Chartered Accountants McFarland Arnold & Co Chartered Accountanls 8 Main Street Neivtownstewart Co Tyrone Page 4
Donemana Cultural Association Limited (A company limited by guarantee) Statement of financial aetivities (incorporating the income and expenditure account) for the year ended 31 July 2024 Ui)restri¢t¢d Restricted funds funds 2024 Total 2023 Total Note5 Incoming resources Incoming resources from generating funds.. Granls Other incoming resources 4,616 4,616 910 7,368 1,400 910 Total incoming resources 910 4,616 5,526 8,768 Resources expended Community aid expenses Cornmunily ev¢nts Insuran¢¢ Heat and light Accountancy fees Repairs & maintenance Equipment costs Bank charges Sundry expenses Depreciation & impairnient Total resources expended 3,000 1,680 549 540 630 1,700 ,680 549 540 630 1,700 618 2,400 1,728 35 13 8,700 52 35 38 52 35 8,647 8,609 5,224 8,609 13,833 16,494 Net in¢omingl(outgoing) resources before transfers (4,314) (3,993) (8,307) (7,726) Transfers between funds 3,315 (3,315) Net movement in fundslNet incomel(expenditure) for the year (999) (7,308) (8,307) (7,726) Total funds brought fonvard Total funds carried foThard 102 94,210 94,312 102,038 (897) 86,902 86,005 94,312 The notes on pages 8 to 14 form an integral part of these fJnaDcial statements. Page 5
Donemana Cultural Association Limited (Company limited by guarantee) Balance sheet as at 31 July 2024 2024 2023 Notes Fixed assets Tangible assets 80,961 89,607 Current assets Debtors Cash at bank and in hand 2,170 3,474 2,400 2,936 5,644 5,336 Creditors: amounts falling due within one year io (600) (631) Net current assets 5,044 4,705 Net assets 86,005 94,312 Funds Restricled income funds Unr¢stricted income funds 12 13 86,902 (897) 94,210 102 86,005 94,312 The company is regislered as a private limited company in Northern Ireland under Registration Number N1069847. The trustees, slalements required by Section 475 (2) and (3) are shown on the following page which fornis part of Ihis Balance Sheet. The notes on pages 8 to 14 form an integral part of these financial statements. Page 6
Donemana Cultural Association Limited (Company limited by guarantee) Balance sheet (continued) Trustees, statements required by Section 475 (2) and (3) for the year ended 31 July 2024 In approving these financial statements as trustees of the charitable company we hereby confirn]'. (a) that for the year stated abov¢ the charitable company was ¢ntitled lo the exemption conferred by Section 477 of the Companies Act 2006 (b) that no notice has b¢¢n deposited at the regisl¢red office of the charitabl¢ company pursuant to Section 476 of the Companies Act 2006 requesting that an audit be conducted for the year ended 31 July 2024 and (c) that we acknowledge our responsibilities for: (l ) ensuring that the charitable company keeps accounting records which comply with Section 386 of the Companies Act 2006, and (2) preparing financial statements which give a true and fail. view of the state of affairs of the charitable company as at the end of the financial year and of its surplus or deficit for the year then ended in accordance with the requirements of S¢¢tion 393 of the Companies Act 2006 and which otherwise comply with the provisions of the Companies Act 2006 relating to financial statements, so far as applicable lo the charitable company. These financial statements are pr¢pared in accordance with the Slal¢ment of Recommended Practice.. Accounting and Reporting by Charities (FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ii'eland,) and in accordance with the special provisions of Part 15 of the Companies Act 2006 applicable lo companies subject to the small compani¢s regime. The financial statements were approved by the Board on J7 tyho OA 5 and signed on its behalf by Signalure: Signature: Name (in block capilals): -H4wl fvThJ Name (in block capitals).. A LLflKJ Trustee Trustee The notes on pages 8 to 14 form an integral part of these financial statements. Page 7
Donemana Cultural Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 July 2024 General information The company is a private limited company, limited by guarantee, which was incorporated on 3 July 2008 under the Companies (Northern Ireland) Order 1986 and the Companies Act 2006. under Registration Number N1069847. It is also recognised as a cliarity by the HM Revenue & Customs under Reference Number XT21191. The company is a registered charity with the Charity Commission for Northern Ireland since 3 November 2015 under r¢gistration numbei. NIC103583. The address of the registered office is 77 Dunnyboe Road, Donemana, Slrabane, Co Tyrone, BT82 ORB Statement of compliance These financial statements have been prepared in compliance with Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102, 'The Financial Reporting Slandard applicable in the UK and the Republic of Ireland,) and in accordance with the Companies Act 2006. Accounting policies Basis of preparation The fInancial statements are prepared under the historical cost coiivention and in accordance with Accounting and Reporting by Charities-. Statement of R¢commended Practice (FRS 102, 'Th¢ Financial Reporting Standard applicable in the UK and the Republic of Ireland,) The charity has taken advantage of the exemption in FRS 102 Section IA from the requirement to produce a cashflow statement because it is a small charity. The presentation currency of these financial statements is sterling. 3.2. Incoming resources Income from donations and grants, including capital grants, is included in incoming resources when these are receivable, exc¢pt as follows.. When donors specify that donations and grants given to the charity must be used in future accounting periods, the income is deferred until those period5. When donors impose conditions which have to be fulfilled befoi'e the charity becomes entitled to use such income, the income is d¢ferred and not included in incoming resources unlil the pre-conditions for use have been met. When donors specify that donations and grants, including capital grants, are for a particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming i'esources of restricted funds when receivable. The value of services provided by volunteers has not been included. other income is recognised in the year in which receivable. 3.3. Interest receivable Interest is included on a receivables basis by Ihe charity. Page 8
Donemana Cultural Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 July 2024 3.4. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes VAT which the company is ineligible to recover, and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those cosls incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 3.5. Tangible fixed assets and depreciation Tangible fixed assets costing inore than £500 are capitalised and included at their purchase costs, together with any incidental expenses of acquisition. D¢preciation is provided at rates calculated to write off the cost less residual value of each asset over ils expected usefijl life, as follows.. Leasehold properties Fixtures, fittings and equipment- Straight line over the life of the lease 20 0/0 reducing balance No depreciation is charged until th¢ assets are brought into use by the company. The carrying values of tangible fixed assels are reviewed annually for impairment if events or changes in circumstances indicate the carrying value may not be recoverabl¢. 3.6. Fund accounting Unrestricted funds relate to general funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Restricted funds al'e funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged againsi the specific fund. The aim and use of each restricted fund is s¢t out in the notes to the financial statements. Taxation The company is registered as a charity for lax purposes under reference XT21191. As a charity, Donemana Cultural Association Limited is exempt from tax on incoine and gains falling within Seclion 505 of the Taxes Act 1988 or Section 256 of the Taxation of Charg¢able Gains Act 1992 to the extent that these are applied to its charitable objecls. No tax charges have therefore arisen for the company for the year ended 31 July 2024. 3.8 Impairment A review for indicators of impairment is carried out at each reporting date, with the r¢coverabl¢ amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, Ihe asset is impaired accordingly. Prior impaii'm¢nts are also reviewed foi. possible reversal at each reporting date. When it is not Possible to e5timat¢ the recoverable amount of an individual asset, an estimate is made of the recovei'able amount of the cash-generating unit lo which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates rash inflows that are largely independent of the cash inflows from oiher assets or groups of assets. Page 9
Donemana Cultural Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 July 2024 Financial instrument5 A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial insti'uments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, wh¢re it is recognised at the present value of the future payments discounted at a markel rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cosl. Financial assets that are measured at cost or amortised c05t are reviewed for objective evidence of impairnient at Ihe end of each reporting date. If there is objective evidence of impaiiinent, an impairment loss is r¢¢ognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these ar¢ ass¢ss¢d individually for impairment. Other financial assets or either assessed individually or grouped on the basis of simtlar credit risk characteristics. Any reversals of impaiiThent al'e recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the caiTying amount would have been had the impairment not previously been recognised. Grant income Restricted funds 2024 2023 Ulster Scots Agency Airtricity Community Fund Department of Agriculture and Rural Development ESB Community Fund 1,116 3,500 1,116 3,500 499 3,000 1,469 2,400 4,616 4,616 7,368 Other incoming resources Unrestrieted funds 2024 2023 Rent of hall 910 910 ,400 910 910 ,400 Page 10
Donemana Cultural Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 July 2024 Net movement in funds 2024 2023 Net movement in funds is stated after charging.. Depreciation and other amounts written off tangible fixed assets and after crediting.. Transfer between funds: Release of revenue grants 8,647 8,700 3,315 7,128 Employees Number of employees The average monthly numbers of employees (including the trustees) during the year were: 2024 Number 2023 Number Trustees 14 14 Trustees, emoluments The trust¢¢s neither rec¢ived nor waived any emoluments during the year. Fixtures, rittings and equipment Tangible fjxed assets Property Total Cost At l August 2023 At 31 July 2024 210,812 13.829 224,641 Depreciation At l August 2023 Charge for ihe year 122,278 8,432 12,756 214 135,034 8,646 At 31 July 2024 130,710 12,970 143,680 Net book values At 31 July 2024 80,102 859 80,961 At 31 July 2023 88,534 1,073 89,607 Pagell
Donemana Cultural Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 July 2024 10. Creditors: amounts falling due Ivithin one year 2024 2023 Accruals and deferred income 600 631 11. Analysis of net assets behveen funds Unrestrieted Restricted funds funds Total funds Fund balances at 31 July 2024 as represented by: Tangible fixed assets Current assets Cuent liabilities 300 (597) (600) 80,661 6,241 80,961 5,644 (600) (897) 86,902 86,005 12. Unrestricted funds l August 2023 Ineoming Outgoing Transfers 31 July 2024 General fund 102 910 (5,224) 3,315 (897) 102 910 (5,224) 3,315 (897) Purposes of unrestricted funds General funds are funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Page 12
Donemana Cultural Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 July 2024 13, Restricted funds l August 2023 Incoming Transfers 31 July 2024 Property Fixtures, fittings and equipment Airtricity Community Fund DAERA Rural Micro Capital Grant Ulster Scots Agency 88,400 430 4,446 435 499 (8,425) (87) (1,700) (97) (1,615) 79,975 343 6,246 338 3,500 1,116 94,210 4,616 (11,924) 86,902 Purposes of restricted funds Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been rais¢d by the charity for particular purposes. The cost of raising and administering such funds is charged against the specific fund. Th¢ aim and use of ¢ach restricted nd is Set out in the note above. Restricted funds relate to the costs of property and equipment for Donemana Cultural Association Limited, together with specific projects as noted above. Grants received during the year are outlined in note 4 of the financial statements. 14. Capital commitments 2024 2023 Details of capital commitments at the accounting date are as follows: Contracted for but not provided in the financial statements 6,246 4,945 Grants received in respect of the above future expenditure'.- Airtricity Community Fundlulster Scots Agency (Note 13) 6,246 4,945 15. Transactions with trustees The trustees attend m¢etings and carry out the business of ihe company on a volunlary bas1S. 16. Company limited by guarantee Donemana Cultural Association Limited is a company limited by guarant¢¢ and accordingly does not have a share capital. Every member of the company undeitakes to contribute such amount as may be required not ¢xceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a membei., or within one year after he or she ceases to be a member. Page 13
Donemana Cultural Association Limited (Company limited by guarantee) Notes to the financial statements for the year ended 31 July 2024 17. Charity Commission for Northern Ireland Don¢mana Cultural Association Limiled is a registered charity with the Charity Commission for Northern Ireland since 3 November 2015, under registration numb¢r NIC103583. 18. Going concern In common with all community group's in Northern Ii'eland, the company continues to experienc¢ difficulty in securing long term funding. The Trustees are continuing to work on a number of projects to enhance the buiding for community use to generate more income, together with taking steps to minimise overheads, therefore consider that the company can continue to meet its objectives for the incoming year and that it is appropriate for the financial slalements to be prepared on the going concern basis. Page 14