Registered number: NI031508
DERRYNOOSE COMMUNITY DEVELOPMENT ASSOCIATION LTD DIRECTORS' REPORT AND UNAUDITED ABRIDGED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2024
Derrynoose Community Development Association Ltd Contents
| Page | |
|---|---|
| Company Information | 1 |
| Directors' Report | 2 |
| Accountant's Report | 3 |
| Abridged Income and Expenditure Account | 4 |
| Abridged Balance Sheet | 5 |
| Notes to the Abridged Financial Statements | 6—7 |
| The following pages do not form part of the statutory accounts: | |
| Abridged Detailed Income and Expenditure Account | 8 |
Derrynoose Community Development Association Ltd Company Information For The Year Ended 31 October 2024
| Directors | Mr James Lennon |
|---|---|
| Mr Francis Haughey | |
| Secretary | Mr James Lennon |
| Company Number | NI031508 |
| Registered Office | 38 Fergot Road |
| Derrynoose | |
| Keady | |
| Co. Armagh | |
| BT60 3DN | |
| Accountants | WHR Accountants Ltd |
| Chartered Certified Accountants | |
| 56 Upper English Street | |
| Armagh | |
| County Armagh | |
| BT61 7LG |
Page 1
Derrynoose Community Development Association Ltd Company No. NI031508 Directors' Report For The Year Ended 31 October 2024
The directors present their report and the financial statements for the year ended 31 October 2024.
Directors
The directors who held office during the year were as follows:
Mr James Lennon
Mr Francis Haughey
Statement of Directors' Responsibilities
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:
-
select suitable accounting policies and then apply them consistently;
-
make judgments and accounting estimates that are reasonable and prudent;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Small Company Rules
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
On behalf of the board
Mr James Lennon Director 22/07/2025
Page 2
Derrynoose Community Development Association Ltd Accountant's Report For The Year Ended 31 October 2024
In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 31 October 2024 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
22/07/2025
WHR Accountants Ltd Chartered Certified Accountants 56 Upper English Street Armagh County Armagh BT61 7LG
Page 3
Derrynoose Community Development Association Ltd Abridged Income and Expenditure Account For The Year Ended 31 October 2024
| Notes GROSS SURPLUS Administrative expenses OPERATING SURPLUS AND SURPLUS FOR THE FINANCIAL YEAR |
2024 £ 19,316 (5,456) 13,860 |
2023 £ 20,726 (7,376) |
|---|---|---|
| 13,350 |
The notes on pages 6 to 7 form part of these financial statements.
Page 4
Derrynoose Community Development Association Ltd Abridged Balance Sheet As At 31 October 2024
| Notes FIXED ASSETS Tangible Assets 4 CURRENT ASSETS Cash at bank and in hand Creditors: Amounts Falling Due Within One Year NET CURRENT ASSETS (LIABILITIES) TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS RESERVES Other reserves Income and Expenditure Account MEMBERS' FUNDS |
2024 £ £ 126,020 126,020 22,071 22,071 (826) 21,245 147,265 147,265 5,213 142,052 147,265 |
2024 £ £ 126,020 126,020 22,071 22,071 (826) 21,245 147,265 147,265 5,213 142,052 147,265 |
2023 £ £ 129,582 129,582 8,849 8,849 (5,026) 3,823 133,405 133,405 5,213 128,192 133,405 |
2023 £ £ 129,582 129,582 8,849 8,849 (5,026) 3,823 133,405 133,405 5,213 128,192 133,405 |
|---|---|---|---|---|
| 126,020 21,245 |
129,582 3,823 |
|||
| 22,071 (826) |
8,849 (5,026) |
|||
| 147,265 | 133,405 | |||
| 147,265 | 133,405 | |||
| 5,213 142,052 |
5,213 128,192 |
|||
| 147,265 | 133,405 |
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
All of the company's members have consented to the preparation of an Abridged Income and Expenditure Account and an Abridged Balance Sheet for the year end 31 October 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr James Lennon
Director 22/07/2025
The notes on pages 6 to 7 form part of these financial statements.
Page 5
Derrynoose Community Development Association Ltd Notes to the Abridged Financial Statements For The Year Ended 31 October 2024
1. General Information
Derrynoose Community Development Association Ltd is a private company, limited by guarantee, incorporated in Northern Ireland, registered number NI031508. The registered office is 38 Fergot Road, Derrynoose, Keady, Co. Armagh, BT60 3DN.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold | No Depreciation |
|---|---|
| Plant & Machinery | 10% Reducing Balance |
| Fixtures & Fittings | 20% Reducing Balance |
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2023: NIL)
- Tangible Assets
| Cost As at 1 November 2023 As at 31 October 2024 Depreciation As at 1 November 2023 Provided during the period As at 31 October 2024 Net Book Value As at 31 October 2024 As at 1 November 2023 |
Total £ 145,833 |
|---|---|
| 145,833 | |
| 16,251 3,562 |
|
| 19,813 | |
| 126,020 | |
| 129,582 |
Page 6
Derrynoose Community Development Association Ltd Notes to the Abridged Financial Statements (continued) For The Year Ended 31 October 2024
5. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
Page 7
Derrynoose Community Development Association Ltd Abridged Detailed Income and Expenditure Account For The Year Ended 31 October 2024
| TURNOVER Sales COST OF SALES Purchases Other Operating Income Grants received Donations GROSS SURPLUS Administrative Expenses Light and heat Repairs and maintenance Insurance Accountancy fees Bank charges Depreciation of plant and machinery Depreciation of fixtures and fittings Sundry expenses OPERATING SURPLUS AND SURPLUS FOR THE FINANCIAL YEAR |
2024 £ £ 1,362 892 (892) 10,950 7,896 18,846 19,316 - 460 511 450 274 72 3,491 198 (5,456) 13,860 |
2024 £ £ 1,362 892 (892) 10,950 7,896 18,846 19,316 - 460 511 450 274 72 3,491 198 (5,456) 13,860 |
2023 £ £ 7,512 4,852 (4,852) - 18,066 18,066 20,726 736 371 250 500 292 80 3,491 1,656 (7,376) 13,350 |
2023 £ £ 7,512 4,852 (4,852) - 18,066 18,066 20,726 736 371 250 500 292 80 3,491 1,656 (7,376) 13,350 |
|---|---|---|---|---|
| 10,950 7,896 |
- 18,066 |
|||
| - 460 511 450 274 72 3,491 198 |
736 371 250 500 292 80 3,491 1,656 |
|||
| 19,316 (5,456) |
20,726 (7,376) |
|||
| 13,860 | 13,350 |
Page 8