Company registration number". N1054732 MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Unaudited financial statements 31 March 2024 MID-ARMAGH COMMUNITY NETWORK Company limlted by guarantee Directors, report Year ended 31 March 2024 The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2024. Directors The directors who served the company during the year were as follows: C Clarke S McKelvey H A M Singleton D A Alexander L Harrison Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. This report was approved by the board of directors on 23 August 2024 and signed on behalf of the board by: C Clarke Director Page 1 MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Income statement Year ended 31 March 2024 2024 2023 Note Turnover Administrative expenses 64.184 (59,571) 65,301 (59.893) Operatlng profit 4,613 5.408 Profit for the finanGial year 4,613 5.408 All the activities of the company are from continuing operations. The notes on pages 5 to 6 form part of these flnancial statements. Page 2 MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee statement of financlal position 31 March 2024 2024 2023 Note Fixed assets Tangible assets 149 149 Current assets Cash at bank and in hand 34,954 35,832 34,954 35,832 Creditors: amounts falling dua within one year (5,640) Net current assets 34,954 30,192 Total assets less current liabilities 34.954 30,341 Net assets 34,954 30,341 Capital and reserves Profit and loss account 34,954 30.341 Members funds 34,954 30,341 For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors, responsibllities: 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 and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. The notes on pages 5 to 6 form part of these financial statements. Page 3 MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Statement of flnancial position (conlinued) 31 March 2024 These financial statements were approved by the board of directors and authorised for issue on 23 August 2024. and are signed on behalf of the board by.. C Clarke Director Company registration number: N1054732 The notes on pages 5 to 6 form part of these financial statements. Page 4 MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Notes to the financial statements Year ended 31 March 2024 General Information The company is a private company limited by guarantee. registered in Northern Ireland. The address of the registered office is 32 Main Street, Markethill, Co. Armagh, BT60 1 PL. Statement of compliance These financial statements have been prepared In compliance with the provisions of FRS 102, Section IA, 'The Financial Reporting Standard applicablè in the UK and Republic of Ireland,. Accounting policles 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 profit or loss. Tha financial statements are prepared in sterling, which is the functional currency of the entity. Turnover Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered and any grants received. Tangible assets Tangible assets are initially recorded at cost. and are subsequently stated at cost less any accumulated depreciation and impairment losses. Depreciatlon Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual value, over the useful eGonomic life of that asset as follows: Fittings. fixtures and equipment 20% straight line If there is an indication that there has been a significant change in depreciation rate. useful lrfe or residual value of tangible assets. the depreciation is revised prospectively to reflect the new estimates. Impalrment 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. Llmlted by guarantee The company is registered as a company limited by guarantee not having a share capital. Each of the members undertakes to contribute on a winding up, for payments of debts and liabilities, such amount as may be required not exceeding £1. Page 5 MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Notes to the financial statements (continued) Year ended 31 March 2024 Tangible assets Property Fixtures. alterations fittings and equipment Total Cost At 1 April 2023 Additions Other movements 8,324 8,324 5.524 (5,524) 8,324 5,524 (5,524) At 31 March 2024 8,324 Depreciation At 1 April 2023 Charge for the year 8.175 149 8,175 149 At 31 March 2024 8,324 8,324 Carrying amount At 31 March 2024 At 31 March 2023 149 149 Cash at bank and in hand 2024 2023 No1- General Account No 5 - Fiddlesticks Account No 7- Programme Account No 9 - Hall Repair Account 9,464 92 16,492 8,906 11,219 242 15.465 8,906 34,954 35,832 Creditors: amounts falling due within one year 2024 2023 other creditors 5,640 Page 6 MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee The following pages do not form part of the statutory accounts. Iwtid-Armagh Community Network Company limited by guarantee General Income and Expenditure Account Year ended 31 March 2024 2024 2023 Income Dance exam fees Fiddle exam fees Dance and fiddle perforniances Hall rent Drama Re-enrolment fees Programme sales Raffle Concert Donations received Interest ABC Specialist Event Jubilee Grant Ulster Scots Agency Energy Grant ABC Mirrors grant NtE EBSS Scheme 1,163 285 3,953 750 1,648 1,100 911 1,196 691 106 1,166 506 84 1,979 1,500 56 225 430 2,100 600 10,474 9,975 Expenses Concert expenses Dance expenses Maintenance and renewals Plates and cups for Jubilee purchased with Council ￿ant Drama Carol service Fiddle exam fees Fiddle expenses Awards night Building work Catering Donations Mirrors Telephone Room Hire Bank fees Printing, stationery and advertising Transfer Programm¢ Account Miscellaneous expenses 62 1,749 1,059 343 610 3,922 75 555 317 4,006 351 99 1,612 150 2,040 10 60 342 200 379 22 730 397 12,545 43 6.588 Net surplusl(deficit) 3.886 (2,570) Mid-Armagh Community Network Company limited by guarantee Programme Income and Expenditllre Account Year ended 31 March 2024 2024 2023 Income Class and enrolment fees Ulster Scots Agency grants Arts Council grants Transfer General Account 23,679 20,667 9,364 10,647 32,478 12,201 730 56,056 53,710 Expenses Administration Cleaning Insurance Accountancy Advertising Rates Rent Hire of hall Printing, postage and stationery Telephone Tuition Exam fcc Maintenance and renewals Light and heat Bank fees Depreciation 6,930 342 2,057 946 360 786 1,000 4,803 339 733 30,869 210 404 2,854 50 148 52,830 8.250 425 1,813 946 845 500 2,280 1,280 730 27,973 139 2,507 50 340 48,078 Net surplus 880 7,978 Mid-Armagh Community Iyetwork Company limited by guarantee Fiddlesticks Income and Expenditure Account Year ended 31 March 2024 2024 2023 Income Expenses Fiddle purchase 150 Net (deficit) (150) Mid-Armagh Community NetTrvork Company limited by guarantee Hall Repair Income and Expenditure Aeeount Year ended 31 March 2024 2024 2023 Income Transfer from General Account Expenses Transfer to Programme Account Net surplus MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Contents Page Directors. report Income statement Statement of financial position Notes to the financial statements