Company registration number: N1054732 MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Unaudited financial statements 31 March 2025 MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Contents Page Directors, report Income statement Statement of financial position Notes to the financial statements MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Directors, report Year ended 31 March 2025 The directors present their report and the unaudited financi 31 March 2025. I statements of the company for the year ended Directors The directors who served the company during the year were s 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 provi companies exemption. ions applicable to companies entitled to the small This report was approved by the board of directors on 2 Ma 2025 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 2025 2025 2024 Note Turnover Administrative expenses 69,555 (58,861) 10,694 64,184 (59,571) 4,613 Operating profit Profit for the financial year 10,694 4,613 All the activities of the company are from continuing operati ns. The notes on pages 4 to 5 form pa of these financial statements. Page MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Statement of financial position 31 March 2025 2025 2024 Note Current assets Cash at bank and in hand 45 48 34,954 45 48 34,954 Net current assets 45,648 34,954 Total assets less current liabilities 45,648 34,954 Net assets 45,648 34,954 Capital and reserves Profit and loss account 45,648 34,954 Members funds 45,648 34,954 For the year ending 31 March 2025 the company was entitl the Companies Act 2006 relating to small companies. d to exemption from audit under section 477 of Directors, responsibilities: The members have not required the company to obtain a question in accordance with section 476; The directors acknowledge their responsibilities for compl to accounting records and the preparation of financial stat These financial statements have been prepared in accorda subject to the small companies, regime and in accordan Reporting Standard applicable in the UK and Republic of Irel audit of its financial statements for the year in ng with the requirements of the Act with respect ents. ce with the provisions applicable to companies with Section 1A of FRS 102 'The Financial These financial statements were approved by the board of d and are signed on behalf of the board by: ectors and authorised for issue on 2 May 2025, CknCJ- C Clarke Director Company registration number: N1054732 The notes on pages 4 to 5 form part o these financial statements. Page 3 MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Notes to the financial statements Year ended 31 March 2025 General information The company is a private company limited by guaran the registered office is 32 Main Street, Markethill, Co. e, registered in Northern Ireland. The address of rmagh, BT60 1PL. Statement of compliance These financial statements have been prepared in c 1A, 'The Financial Reporting Standard applicable in t mpliance with the provisions of FRS 102, Section UK and Republic of Ireland,. Accounting policies Basis of preparation The financial statements have been prepared on the of certain financial assets and liabilities and investme or loss. istorical cost basis, as modified by the revaluation t properties measured at fair value through profit The financial statements are prepared in sterling, whi h is the functional currency of the entity. Turnover Turnover is measured at the fair value of the consi and services rendered and any grants received. ration received or receivable for goods supplied Tangible assets Tangible assets are initially recorded at cost, and are depreciation and impairment losses. subsequently stated at cost less any accumulated Depreciation Depreciation is calculated so as to write off the cos over the useful economic life of that asset as follows: or valuation of an asset, less its residual value, Fittings, fixtures and equipment str ight line If there is an indication that there has been a sign residual value of tangible assets, the depreciation is r icant change in depreciation rate, useful life or vised prospectively to reflect the new estimates. Impairment A review for indicators of impairment is carried out a being estimated where such indicators exist. Wh amount, the asset is impaired accordingly. Prior imp each reporting date. each reporting date, with the recoverable amount re the carrying value exceeds the recoverable irments are also reviewed for possible reversal at Page 4 MID-ARMAGH COMMUNITY NETWORK Company limited by guarantee Notes to the financial statements (continued) Year ended 31 March 2025 Financial instruments A financial asset or a financial liability is recognised contractual provisions of the instrument. only when the company becomes a party to the Basic financial instruments are initially recognised constitutes a financing transaction, where it is recog discounted at a market rate of interest for a similar d t the transaction price, unless the arrangement ised at the present value of the future payments t instrument. Debt instruments are subsequently measured at amo ised cost. Financial assets that are measured at cost or amo impairment at the end of each reporting date. If impairment loss is recognised in profit or loss immedi ised cost are reviewed for objective evidence of there is objective evidence of impairment, an tely. For all equity instruments regardless of significanc significant, these are assessed individually for imp individually or grouped on the basis of similar credit ri and other financial assets that are individually rment. Other financial assets or either assessed k characteristics. Any reversals of impairment are recognised in profit does not result in a carrying amount of the financial have been had the impairment not previously been r r loss immediately, to the extent that the reversal sset that exceeds what the carrying amount would ognised. Limited by guarantee The company is registered as a company limited by members undertakes to contribute on a winding up, as may be required not exceeding £1. guarantee not having a share capital. Each of the or payments of debts and liabilities, such amount Cash at bank and in hand 2025 2024 No1- General Account No 5 - Fiddlesticks Account No 7- Programme Account No g - Hall Repair Account 15,361 146 21,235 8,906 9,464 92 16,492 8,906 45,648 34,954 Page S