COMPANY REGISTRATION NUMBER: NI038678 CHARITY REGISTRATION NUMBER: NIC103782
Dungiven Community Pre-School Playgroup Company Limited by Guarantee Unaudited Financial Statements
31 August 2023
CLAREMOUNT
Chartered accountants 1b Brookmount Crescent
Omagh Co Tyrone BT78 5HG
Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Independent examiner's report to the trustees | 3 |
| Statement of financial activities (including income and expenditure | |
| account) | 4 |
| Statement of financial position | 5 |
| Notes to the financial statements | 6 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 15 |
| Notes to the detailed statement of financial activities | 16 |
Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Year ended 31 August 2023
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 August 2023.
Reference and administrative details
Registered charity name Dungiven Community Pre-School Playgroup Charity registration number NIC103782 Company registration number NI038678 Principal office and registered 42a Mitchell Park office Dungiven Co Derry BT47 4LW
The trustees
Ms L McReynolds Ms L Mullin Ms U O'Kane Ms K Grieve Dr A Devlin Mullan (Resigned 2 November 2023) Mrs A O'Kane (Resigned 2 November 2023) Mrs CT Mullan (Resigned 2 November 2023) Mrs C Doran (Resigned 2 November 2023) Miss EO Craig (Resigned 2 November 2023) Mrs S McCartney Mrs A O'Connor (Appointed 2 November 2023) Miss L McElhinney (Appointed 2 November 2023) Company secretary Leanne Mullin Independent examiner Shaun McElhinney 1b Brookmount Crescent Omagh Co Tyrone BT78 5HG
Structure, governance and management
The organisation is a charitable company, limited by guarantee, incorporated on 13 May 2000 and accepted as a charity by HM Revenue & Customs on 10 July 2002. The company was established 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.
The trustees of the charity, who are also directors, are detailed on page 1.
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 August 2023
Objectives and activities
The charity operates a playgroup for pre-school children.
Achievements and performance
The results for the year are contained in the financial statements.
Financial review
Dungiven Community Pre-School Playgroup was operating at 75% capacity throughout the year ended 31 August 2023 which led to a fall in income. However, the organisation is now back up to full operating capacity and consequently income is expected to increase for the year ending 31 August 2024.
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 was approved on 29 May 2024 and signed on behalf of the board of trustees by:
Ms L McReynolds Trustee
Leanne Mullin Charity Secretary
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Dungiven Community Pre-School Playgroup
Year ended 31 August 2023
I report to the trustees on my examination of the financial statements of Dungiven Community Pre-School Playgroup ('the charity') for the year ended 31 August 2023.
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, I 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 I 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
I have completed my examination. I 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).
I 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.
Shaun McElhinney Independent Examiner
1b Brookmount Crescent Omagh Co Tyrone BT78 5HG
29 May 2024
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Year ended 31 August 2023
| 2023 | 2022 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 52,292 | 1,864 | 54,156 | 69,325 |
| Investment income | 6 | 4 | – | 4 | 17 |
| Other income | 7 | 265 | – | 265 | 588 |
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| Total income | 52,561 | 1,864 | 54,425 | 69,930 | |
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| Expenditure | |||||
| Expenditure on charitable activities | 8,9 | 68,622 | 1,864 | 70,485 | 67,147 |
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| Total expenditure | 68,622 | 1,864 | 70,485 | 67,147 | |
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| Net (expenditure)/income and net | movement | ||||
| in funds | (16,061) | – | (16,060) | 2,783 | |
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| Reconciliation of funds | |||||
| Total funds brought forward | 97,123 | – | 97,123 | 94,340 | |
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| Total funds carried forward | 81,062 |
– |
81,062 |
97,124 |
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 13 form part of these financial statements.
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Statement of Financial Position
31 August 2023
| 2023 | 2022 | |||
|---|---|---|---|---|
| Note | £ | £ | £ | |
| Fixed assets | ||||
| Tangible fixed assets | 14 | 57,265 | 59,049 | |
| Current assets | ||||
| Cash at bank and in hand | 26,670 | 41,604 | ||
| Creditors: amounts falling due within one year | 15 | 2,872 | 3,530 | |
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| Net current assets | 23,798 | 38,074 | ||
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| Total assets less current liabilities | 81,063 | 97,123 | ||
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| Net assets | 81,063 | 97,123 | ||
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| Funds of the charity | ||||
| Unrestricted funds | 81,062 | 97,124 | ||
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| Total charity funds | 17 | 81,062 | 97,124 | |
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For the year ending 31 August 2023 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 29 May 2024, and are signed on behalf of the board by:
Ms L McReynolds Trustee
The notes on pages 6 to 13 form part of these financial statements.
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2023
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 42a Mitchell Park, Dungiven, Co Derry, BT47 4LW.
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.
3. 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.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102: (a) No cash flow statement has been presented for the company.
(b) Disclosures in respect of financial instruments have not been presented.
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. No judgements, accounting estimates or assumptions that have been made by management will have a significant effect on the amounts recognised in the financial statements.
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity.
Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of an appeal.
Incoming Resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
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Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Grants, where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant.
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Investment income is included when receivable.
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Incoming resources from charitable trading activity are accounted for when earned.
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Incoming resources from grants, where related to performance and specific deliverables, are accounted for as the charity earns the right to consideration by its performance.
Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
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Costs of generating funds comprise the costs associated with attracting voluntary income and costs of trading for fundraising purposes.
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Charitable expenditure comprises those costs 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.
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Governance costs include those costs associated with meeting the constitutional and statutory requirements of the charity and include the audit fees and costs linked to the strategic management of the charity.
All costs are allocated between the expenditure categories of the SoFA on a basis designed to reflect the use of the resource.
Tangible assets
All fixed assets are initially recorded at cost.
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
- 15% reducing balance
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
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
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.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
3. Accounting policies (continued)
Financial instruments (continued)
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
The company is limited by Guarantee and does not have a share capital.
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Voluntary Contributions | 1,956 | – | 1,956 |
| WELB | 37,818 | – | 37,818 |
| Grants receivable | 12,518 | 1,864 | 14,382 |
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| 52,292 | 1,864 | 54,156 | |
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| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Voluntary Contributions | 4,050 | – | 4,050 |
| WELB | 48,024 | – | 48,024 |
| Grants receivable | 15,123 | 2,128 | 17,251 |
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| 67,197 | 2,128 | 69,325 | |
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
6. Investment income
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
|---|---|---|---|---|---|
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 4 | 4 | 17 | 17 | |
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| 7. | Other income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Milk | 265 | 265 | 588 | 588 | |
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| 8. | Expenditure on charitable activities by fund type | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Support costs | 68,622 | 1,864 | 70,485 | ||
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| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Support costs | 65,018 | 2,128 | 67,147 | ||
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| 9. | Expenditure on charitable activities by activity type | ||||
| Total funds | Total fund | ||||
| Support costs | 2023 | 2022 | |||
| £ | £ | £ | |||
| Governance costs | 70,485 | 70,485 | 67,147 | ||
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| 10. | Net (expenditure)/income | ||||
| Net (expenditure)/income is stated after charging/(crediting): | |||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 1,784 | 2,099 | |||
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| 11. | Independent examination fees | ||||
| 2023 | 2022 | ||||
| £ | £ | ||||
| Fees payable to the independent examiner for: | |||||
| Independent examination of the financial statements | 1,680 |
840 |
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
12. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 55,156 | 50,479 |
| Employer contributions to pension plans | 567 | 450 |
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55,723 |
50,929 |
The average head count of employees during the year was 3 (2022: 3). The average number of full-time equivalent employees during the year is analysed as follows:
| 2023 | 2022 | |
|---|---|---|
| No. | No. | |
| Number of trustees | 6 | 9 |
| Number of playgroup staff | 3 | 3 |
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| 9 | 12 | |
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No employee received employee benefits of more than £60,000 during the year (2022: Nil).
13. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were received by the trustees.
14. Tangible fixed assets
| Land and | ||||
|---|---|---|---|---|
| buildings | Equipment | Total | ||
| £ | £ | £ | ||
| Cost | ||||
| At 1 September 2022 and 31 August 2023 | 47,158 | 21,223 | 68,381 | |
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| Depreciation | ||||
| At 1 September 2022 | – | 9,332 | 9,332 | |
| Charge for the year | – | 1,784 | 1,784 | |
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| At 31 August 2023 | – | 11,116 | 11,116 | |
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| Carrying amount | ||||
| At 31 August 2023 | 47,158 | 10,107 | 57,265 | |
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| At 31 August 2022 | 47,158 | 11,891 | 59,049 | |
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| 15. | Creditors: amounts falling due within one year | |||
| 2023 | 2022 | |||
| £ | £ | |||
| Accruals and deferred income | 2,872 |
3,530 |
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
16. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £567 (2022: £450).
17. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At | At | ||||
| 1 September | 20 | 31 August 202 | |||
| 22 | Income | Expenditure | 3 | ||
| £ | £ | £ | £ | ||
| General funds | 97,123 | 52,561 | (68,622) | 81,062 | |
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| At | At | ||||
| 1 September | 20 | 31 August 202 | |||
| 21 | Income | Expenditure | 2 | ||
| £ | £ | £ | £ | ||
| General funds | 94,340 | 67,802 | (65,018) | 97,124 | |
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| Restricted funds | |||||
| At | At | ||||
| 1 September | 20 | 31 August 202 | |||
| 22 | Income | Expenditure | 3 | ||
| £ | £ | £ | £ | ||
| Restricted Fund 1 - desc in a/cs | – | 1,864 | (1,864) | – | |
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| At | At | ||||
| 1 September | 20 | 31 August 202 | |||
| 21 | Income | Expenditure | 2 | ||
| £ | £ | £ | £ | ||
| Restricted Fund 1 - desc in a/cs | – | 2,128 | (2,128) | – | |
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2023
18. Analysis of net assets between funds
| Unrestricted | Total Funds | |
|---|---|---|
| Funds | 2023 | |
| £ | £ | |
| Tangible fixed assets | 57,265 | 57,265 |
| Current assets | 26,670 | 26,670 |
| Creditors less than 1 year | (2,872) | (2,872) |
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| Net assets | 81,063 | 81,063 |
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| Unrestricted | Total Funds | |
| Funds | 2022 | |
| £ | £ | |
| Tangible fixed assets | 59,049 | 59,049 |
| Current assets | 41,604 | 41,604 |
| Creditors less than 1 year | (3,530) | (3,530) |
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| Net assets | 97,123 | 97,123 |
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Management Information Year ended 31 August 2023
The following pages do not form part of the financial statements.
- 14 -
Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 August 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Voluntary Contributions | 1,956 | 4,050 |
| WELB | 37,818 | 48,024 |
| Grants receivable | 14,382 | 17,251 |
|
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| 54,156 | 69,325 | |
|
|
|
| Investment income | ||
| Bank interest receivable | 4 | 17 |
|
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| Other income | ||
| Milk | 265 | 588 |
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| Total income | 54,425 | 69,930 |
|
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| Expenditure | ||
| Expenditure on charitable activities | ||
| Wages and salaries | 55,156 | 50,479 |
| Pension costs | 567 | 450 |
| Other establishment | 5,379 | 4,902 |
| Legal and professional fees | 7,517 | 9,137 |
| Depreciation | 1,783 | 2,099 |
| Other interest payable and similar charges | 83 | 80 |
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| 70,485 | 67,147 | |
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| Total expenditure | 70,485 | 67,147 |
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| Net (expenditure)/income | (16,060) |
2,783 |
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Dungiven Community Pre-School Playgroup
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 August 2023
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Expenditure on charitable activities | ||
| Governance costs | ||
| Governance costs - wages/salaries | 55,156 | 50,479 |
| Governance costs - pension costs | 567 | 450 |
| Governance costs - Establishment costs | 5,379 | 4,902 |
| Governance costs - accountancy fees | 1,380 | 1,290 |
| Governance costs - Membership Fees | 1,431 | 1,571 |
| Governance costs - Outings, Food & General Expenses | 4,706 | 6,276 |
| Governance costs - depreciation | 1,783 | 2,099 |
| Governance costs - Interest payable & other charges | 83 | 80 |
|
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| 70,485 | 67,147 | |
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| Expenditure on charitable activities | 70,485 | 67,147 |
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