CHARITYREGISTRATIONNUMBER: NIC103616
Brackfield Old School Ltd Company Limited by Guarantee Unaudited Financial Statements 31 March 2025
Brackfield Old School Ltd
Company Limited by Guarantee
Financial Statements
, Year ended 31 March 2025
| Page | |
|---|---|
| Trustees' annual report (incorporating the directors’ report) | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement offinancial activities (including income and | |
| expenditure account) | 4 |
| Statement offinancial position | 5 |
| Notestothefinancialstatements | 6 |
Brackfield Old School Ltd
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report)
Year ended 31 March 2025
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 2025.
Reference and administrative details
Registered charity name Brackfield Old School Ltd
Charity registration number NIC103615 Company registration number NI039228 Principal office and registered The Old School House office 2 Foreglen Road Killaloo Londonderry BT47 3TP
The trustees
Mr M Smith Mrs J Pollock Mr C Pollock Company secretary Mrs Joan Pollock Independent examiner Arthur McFarland W.S. Sterritt & Co Carton House 15 Ebrington Terrace Londonderry BT47 6JS
Structure, governance and management
The organisation is a charitable company limited by guarantee, incorporated on 6th September 2000, accepted as a charity by HM Revenue & Customs, reference XR42018 and registered with the Charity Commission for Northern Ireland on 16th October 2015, charity number NIC103615. The company was incorporated 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.
Objectives and activities
The principal activities and objects of the charity as per the company's Memorandum are ' to promote the benefit of the inhabitants of Killaloo and Claudy and the surrounding area of County Londonderry" by provision of premises utilised as a community hub. The charity trustees have had regard to the public benefit guidance issued by the Charity Commission for Northern Ireland.
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. Brackfield Old School Ltd
Company Limited by Guarantee
Trustees’ Annual Report (Incorporating the Directors’ Report) (continued)
Year ended 31 March 2025
Achievements and performance
The community hub provided by the charity continues to be well utilised by local charities and community bodies. The charity has continued a policy of improving and maintaining the fabric of the building.
Financial review
The results for the year are contained in the financial statements attached. For the current year amounts received in respect of rental charges for the use of the community hub by other charities and community bodies were in excess of expenses incurred. In accordance with the charity's reserves policy this surplus has been transferred to designated reserves. Excesses of income over expenditure in any financial year are transferred to a designated reserve in order to provide sufficient reserves to conducted improvements and repairs to the charity's property when required to ensure that the building is of a sufficient standard for its continued use as a community hub,
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 (incorporating the directors' report) was approved on 6 October 2025 and signed on behalf of the board of trustees by:
Llec K Mr M Smith Trustee
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1d Roblockfl F; |
Mrs J Pollock
Trustee
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Brackfield Old School Ltd
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Brackfield Old School Ltd
Year ended 31 March 2025
| report to the trustees on my examination of the financial statements of Brackfield Old School Ltd (‘the charity’) for the year ended 31 March 2025.
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, | 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 | have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.
Independent examiner's statement
| have completed my examination. | confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records, or
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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
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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).
| 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,
Arthur McFarland W.S. Sterritt & Co Independent Examiner
Carton House 15 Ebrington Terrace Londonderry BT47 6JS
- 6 October 2025
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Brackfield Old School Ltd
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 March 2025
| 2025 | 2025 | 2024 | ||
|---|---|---|---|---|
| Unrestricted | ||||
| funds | Totalfunds | Total funds | ||
| Note | £ | £ | £ | |
| Income and endowments | ||||
| Donations and legacies Charitable activities |
5 6 |
240 10,700 |
240 10,700 |
240 10,700 |
| Investment income | 7 | 1,248 | 1,248 | 1,046 |
| Total income | 12,188 | 12,188 | 11,986 | |
| Expenditure Expenditure on charitable activities |
8,9 | 6,406 | 6,406 | 7,587 |
| Total expenditure | 6,406 | 6,406 | 7,587 | |
| Netincome and netmovement infunds | 6,782 | 5,782 | 4,399 | |
| Reconciliation offunds | ||||
| Total funds broughtforward | 96,355 | 96,355 | 91,956 | |
| Totalfundscarriedforward | 102,137 | 102,137 | 96,355 |
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 11 form part of these financial statements.
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Brackfield Old School Ltd
Company Limited by Guarantee
Statement of Financial Position
31 March 2025
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|||||||||
|---|---|---|---|---|---|---|---|
|2025|2024|
|Note|£|£|£|
|Fixed|assets|
|Tangible|fixed|assets|14|40,000|40,000|
|Current|assets|
|Debtors|15|2,395|4,725|
|Cash|at|bank|and|in|hand|59,742|51,630|
|62,137|56,355|
|Net|current|assets|62,137|56,355|
|Total|assets|less|current|liabilities|102,137|96,355|
|Funds|of the|charity|
|Unrestricted|funds|102,137|96,355|
|Total|charity funds|16|102,137|96,355|
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For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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» | 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;
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» 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 6 October 2025, and are signed on behalf of the board by:
Mr M Smith rs J Pollock Trustee Trustee
Company registration number:
NI039228
The company is a private limited company limited by guarantee, registered in Northern Ireland.
The notes on pages 6 to 1/1 form part of these financial statements.
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Brackfield Old School Ltd
Company Limited by Guarantee Notes to the Financial Statements
Year ended 31 March 2025
1. 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 The Old School House, 2 Foreglen Road, Killaloo, Londonderry, BT47 3TP.
2. Statement 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 (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 factors, 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 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.
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Brackfield Old School Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continueg
Year ended 31 March 2025
- 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:
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— 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.
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® legacy income is recognised when receipt is probable and entitlement is established.
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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.
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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:
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e expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
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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.
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- 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 between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible 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.
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Brackfield Old School Ltd
.
Company Limited by Guarantee
Notes to the Financial Statements (continue
Year ended 31 March 2025
3. Accounting policies (continued
Tangible assets (continued)
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.
Investments
Unlisted equity investments are initially recorded at cost, and subsequently measured at fair value. If fair value cannot be reliably measured, assets are measured at cost less impairment.
Listed investments are measured at fair value with changes in fair value being recognised in income or expenditure.
Impairment 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.
Financial instruments
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. Limited by guarantee guarantee Brackfield Old School Ltd is a company limited by guarantee and accordingly does not have a share capital.
4. Limited by guarantee guarantee
Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to the assets of the charitable company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
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Brackfield Old School Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continue
Year ended 31 March 2025
5. Donations and legacies
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | £ | ||
| Donations | |||||
| Donated services | 240 | 240 | 240 | 240 | |
| 6. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| Rent receivable | ra 10,700 |
£ 10,700 |
£ 10,700 |
E 10,700 |
|
| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| 3 | £ | £ | £ | ||
| Bank interest receivable | 1,248 | 1,248 | 866 | 866 | |
| Building society interest receivable | - | - | 180 | 180 | |
| 1,248 | 1,248 | 1,046 | 1,046 | ||
| 8. | Expenditure on charitable activities | byfund type | |||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2025 | Funds | 2024 | ||
| £ | £ | £ | gE | ||
| Community hub Support costs |
5,438 968 |
5,438 968 |
7,301 286 |
7,301 286 |
|
| 6,406 | 6,406 | 7,587 | 7,587 | ||
| 9. | Expenditure on charitable activities | by activity type | |||
| Activities | |||||
| undertaken directly £ |
Support costs £ |
Totalfunds 2025 £ |
Total fund 2024 E |
||
| Community hub Governance costs |
5,438 = |
- 968 |
5,438 968 |
7,301 286 |
|
| 5,438 | 968 | 6,406 | 7,587 |
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Brackfield Old School Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continue)
Year ended 31 March 2025
10. Analysis of support costs
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|||||||||
|---|---|---|---|---|---|---|---|
|Governance|
|costs|Total|2025|Total|2024|
|£|£|E|
|Finance|costs|34|34|33|
|Support|costs|- Other|costs|694|694|13|
|Support|costs|-|Independent|examination|240|240|240|
|968|968|286|
|Independent|examination|fees|
|2025|2024|
|£|£|
|Fees|payable|to|the|independent|examiner|for:|
|Independent|examination|of the|financial|statements|240|240|
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11. Independent examination fees
12. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
No trustee expenses have been incurred.
13. Employee numbers
No members of staff were employed by the charity.
14. Tangible fixed assets
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||||||||
|---|---|---|---|---|---|---|
|Freehold|
|property|
|£|
|Cost|
|At|1|Apr 2024 and|31|Mar 2025|40,000|
|Depreciation|
|At|1|Apr 2024|and|31|Mar 2025|i|
|Carrying|amount|
|At|31|Mar 2025|40,000|
|At|31|Mar 2024|40,000|
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|---|---|---|---|
|15.|Debtors|
|Prepayments|and|accrued|income|
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|---|---|
|2025|2024|
|£|£|
|2,395|4,725|
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Brackfield Old School Ltd
Company Limited by Guarantee
Notes to the Financial Statements (continued
Year ended 31 March 2025
16. Analysis of charitable funds
Unrestricted funds
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||||||||||
|---|---|---|---|---|---|---|---|---|
|At|At|
|1|Apr 2024|Income|Expenditure|31|Mar 2025|
|£|E|£|£|
|Designated|Fund|- Old|School|building|96,355|12,188|(6,406)|102,137|
|At|At|
|1|Apr 2023|Income|Expenditure|31|Mar|2024|
|£|£|2|£|
|Designated|Fund|- Old|School|building|91,956|11,986|(7,587)|96,355|
|17.|Analysis|of|net|assets|between|funds|
|Unrestricted|Total|Funds|
|Funds|2025|
|£|£|
|Tangible|fixed|assets|40,000|40,000|
|Current|assets|62,137|62,137|
|Net|assets|102,137|102,137|
|Unrestricted|Total|Funds|
|Funds|2024|
|£|£|
|Tangible|fixed|assets|40,000|40,000|
|Investments|-|_|
|Current|assets|§6,355|56,355|
|Net assets|96,355|96,355|
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