Aghaloo & Blackwater Community Association Ltd Company Limited by Guarantse Statement of Financial Actlvlties (including income and expenditure account) Year ended 31 December 2022 2022 Unrestrrcted funds Total funds Total fvnds 2021 Income and endowments Donations and legaGies Other tradin9 activities Total In¢om• 103,000 15,210 103,000 15.210 4,133 4,133 118.210 118,210 Expendlture Expenditure on charitable acbvibes Total •xpendlluro 23.220 23.220 23,220 20.645 20,645 23,220 Net Incom•l(&xpendlturn) and not movem•nt In funds 94.990 (16,512) R•conclllation of fund• Total funds brought forward Total funds carrfod fofward 100.182 195,172 100,182 195,172 116,694 100,182 The Statement of financial activitses includes all gains and losses recognixd In trte year. Ail income and expenditure defive from conts'nuing actNities. Thè notss on pogos 13 to 19 form part of these finaneial statoments. 11
Aghaloo & Blackwater Community Association Ltd Company Limited by Guarantee ststement of Financial Position 31 December 2022 2022 2021 Flxed assets Tangible fixed assets 11 168.627 180,657 Current assets Cash at bank and in hand 28.805 21,102 Creditorn: amounts falllng due wlthln one year Net current a888ts 12 1,577 26,545 195,172 19,525 200.182 Total assets less current Ilabllliles Cr•ditors: amounts falling due aftor more than onè yoar 13 100,000 100,182 Net assets 195,172 Funds of the charity Unrestricted funds 196,172 195,172 100.182 Totsl charlty fund8 14 100,182 For the year ending 31 December 2022 the charity was entitled to exemption from audit under section 477 of the Companses Act 2006 relats'ng to small companies. Directors, responsibilit$.. The members have not required the company to obtain an audrt of ts financial ststements for the year in quests'on in accordance ¥th 8eclThi 478.. The directors acknowledge their responsibilities for complying wth the requirements of the Act with respect to accounb'ng records and the preparation of financial statements. These financial statements have been prepared in accordance wrth the provislons applicable to companies subject to the small u)mpanies' regime. These financial statements were approved by the board of trustees and authorrsed for issue on 31 October 2023, arKI are swned on behalf of the board by. hn Ward (Chairperson) rustee Kathleen Mccaughey (Treas Trustee The notes on p•ges 13 to 19 form port of these finanGlal statements. 12-
Aghaloo & Blackwater Community Association Ltd
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 December 2022
G•n•ral infonnatlon
The charity is a public benefft entity and a private company limtted by guarantee, registered in
Northern Ireland and a registered chanty in Northem Ireland. The address of the registered office
is 70 MO0 Street, Aughnacloy, Co Tyrone, BT69 &4Y.
Statsment of compllance
These financial statements have been prepared in compliance FRS 102. 'The Financial
Reporttng Standard applicable in the UK and the Republic of Ireland.. the Statement of
Recommended Prathce apble to chaiities preparing their accounts in accordance with the
Financkal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charrties
SORP
Aghaloo & Blackwatsr Community Association Ltd Company Limited by Guarantse Notes to the Financial Ststements {conllnuedJ Year ended 31 December 2022 Accounting policies {conOnue41 Fund accounting Unrestricted fijnds are available for use at the discretion of the trustees to further any of the charitys purposes DeSnated funds are unrestricted funds earmarked by the trustees for particular future project or commttment Restrthd funds are subjected to restrictions on their exFenditure declared by the donor or through the terms of an appeal, and fall into one of two sub4asses". restricted income funds or endowment fijnds Incoming resources l incoming resources are included in the statement of financial activities when entitlement has passed to the chanty.. rt is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be relkably measured. The foll0vng specific policies are applied to parbcular categories of income: inffie from donations or grants is recognised vrtjen there is evidence of entrtlement to the gtTr reipt is probable and ts amount can be measured reliably. legacy income is rwnised vknen receipt is probable and entitlerrEnt is estsblished. 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 Ihe donor or the estimated resale value. Donated faciltbes and services are recognised in accounts when receiv@J rf the value can be reliably measured. No amounts are included for the o3ntribution of general volunteers. income from contracts for the supply of ServIS is recognised with the delivery of the contracted servi. This is dasstfied as unrestr5Cted funds unless there is a contractual requirement for it to be spent on a particular purpose and retymed if unspen( in which case it may be regarded as restricted. -14-
Aghaloo & Blackwater Community Association Ltd Company Limited by Guarantee Notss to the Financial Statements (¢onllnueo) Year ended 31 December 2022 Accounting policies {con&nuw4 Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fulty recovered. and is dasSIf under headings of the statement of financial activities to whlch rt relates: expendiiure on raising fijnds includes ihe costs of all fundraising acbvities, events, non- charitable trading acbvibes. and the sale of donated goods. expendtture on tharitable activities indudes all costs incurred by a charity in undertaking actrvities that further its charitable aims for the tenefit of ts benefictaries, including those support costs and costs rdab'ng to the governance of the chanty apportioned to charitable activities. other expendiiure includes all expdilure that is nether related to raising funds for the charty nor part of its expendtiure on charitsble activitss. All costs are alloc*d to expenditure categories refiecb'ng ts use of the resource. Direct costs attributable to a single actNty are allocated direcuy to that acw Shared costs are apFX)rtioned belAveen the activilies they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are inittalty recorded at cos( and subsequenty ststed at wst sS any accumulated depreuab.on and impaimient lo&w. Any tsngible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciatK>n and subsequent a¢cumulated impairment losses. An increase in the carying aTTr)unt of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impaimient that has previously been recognised as expenditure within the statement of financia ath'vitses. A decrease in the carrying amount of an asset as a result of revaluab'on, is recognised in other recognised gains and losses, except to which it oftsets any previous revaluatiC•n gain, in whh Gase the loss is shown within other recognised gains and k)sses on the statement ot financial actswtEs. Depreciation Depreciation is ¢al¢ulated so as to virite off the cost or valuation of an asseL less ts residual value, over the useful economic lrfe of that asset as follows.. Property Fixtures, ffttings and equipment - 4% straight line 25% reduciThJ balance Impainnent of fixed assets A review for indicators of impairment is carried out at each reporting datè, with the recoverable amount being estimated where such indicators exist Where the carrying value eXed$ the recoverable amounl the asset impaired accordingty. Prior impainnents are also reviewed for possible reversal at each reFK)rting date. -15-
Aghaloo & Blackwater Community Association Ltd Company Limited by Guarantee Notes to the Financial Ststements (conbnued) Year ended 31 December 2022 3. Aeeounting polieiè8 {¢onlinued) Impaimient of rued assets {continu For the purposes of irnpaimEnt testing. when it is not possible to estimate trte recoverable amount of an individual asset an estimate is made of the recoverable amount of the cash- generating untt to whth the asset bek)ngs. The cash-generating unit is the smallest entifiable group of assets that includes the asset and generates cash inflows that largety independent of the cash infb)ws from other assets or groups of assets. For impaiment testing of goothwill. the gocKhvill acquired in a business combination is, from the acquisition date. allocated to each of the cash-generats'ng units that are expectetl to benefrt from the synergies of the combinalm, irrespecbve of vhther other assets or liabilities of the charity are asSned to those unts. Financial instruments A financial asset or a financAal liabilty is recognised onty when the chanty becornes a party to the contractual provisions of the instrument Basi¢ financial instruments are initialEy recognisad at the amount receivable or payable induding any related transaction costs. Current assets and curmt liabilities are subsequenty measured at the cash or other consideration expected to be paid or r1Ved and not discounted. Debt instruments a subsequenty measured at anN)rtI cost whe investments in shares are pUblY traded or their fair value can otherwise be measured reliabty, the investrnent is subsequenty measured at fair value with changes in fair value recognised in income and expendiiure. All other such investments are subsequently measured at cost less impainnenL Other finarlcial instruments. induding derivatives. are initially recognised at fair value. unless payment for an asset FS deferred beyond nomial business temis or financed at a rate of interest that is not a market rate, in which case the asset B 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 subsequenty measured at fair value, with any changes recognised in the statement of financial *ivibes. with the exception of hedging instruments in a deSnated hedging relats"onship. FinancFal assets that are measured at cost or amortised cost are reviewed for objective evÈden of impaimient at the end of each reporting date. If there is obje1Ve evidence of impairment, an impairment loss is recognised under the appropnate heading in the statement of financial activrties in which the Inal gain was recoJnis&l. For all equty instruments regardless of snIfiCanCe, and other financial assets that are individually sFgnrffcant, these are assessed individualty for impaimienL Other financial assets are either assessed individualty or grouped on Ihe basis of similar credtt risk characteristscs. Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a ¢arryng amount of the financial asset that exceeds what the carrying amount would have been had the impaimient not previousty l)een rwnised. 16-
Aghaloo & Blackwater Community Association Ltd Company Limited by Guarantee Notss to the Financial Ststements (¢onlnued) Year ended 31 December 2022 Limitad by guarantee Aghaloo & Blaclwdter Communty AssocRtion Ltd is a company limited by guarantee and accordingly dS not have a share capital. Every member of the company undertakes to conln'bute such an amount as may be required not exceeding £1 to the assets of the charttable company in the event of its berng wound up thitst he or she is a member. or within one year after he or she ceases to be a member. Donations and legacl•8 untricted Totsl Funds Unrericted Totsl Funds FurKIs 2022 Funds 2021 Grants Grants 103,000 103,000 Other trdding acttvltlos Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 other voknntary income acbvty 15.210 15.210 4.133 4,133 Expenditure on charitable actiVits by fund type Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Support costs 23,220 20,645 20,645 Not incomel(expenditure) Net incomel{expenditure) is stated after chargingl{crediting).' 2022 2021 Depreciabon of tangible fixed assets 12A17 12,847 Independent examination fees 2022 2021 Fees payable to the independent examiner for. Independent examinabon of the financial statements 660 600 10. Trustee rnuneratiOn and expenses No remuneration was r1Ved by the trustees. -17-
Aghaloo & Blackwater Community Association Ltd Company Limited by Guarantee Notss to the Financial Statements (eonbnued) Year ended 31 December 2022 I l. Tangib fixod assèts Land and Fixtures and buildings fittings Total Cost At 1 January 2022 Additions 268.566 15.716 387 284.282 387 At 31 December 2022 268,566 16,103 284,669 Depreciation At 1 January 2022 Charge for the year At 31 December 2022 94,222 10,743 104,965 9,403 1,674 103,625 12,417 116,042 11,077 Carrying amount At 31 December 2022 163.601 5,026 6.313 168.627 180,657 At 31 December 2021 174,344 12. Creditors: amounts falllng due withln one year 2022 2021 Trade creditors Olher creditors 960 1,300 2,260 277 1.300 1,577 13. Creditors: amounts falling due after more than one year Long tenn grant- Parish Consolid*'on Fund 14. Analysis of charltable funds Unreslrfcted funds At 1 January 202 At 31 December 2022 Incorne Expenditure General funds 100.182 118,210 (23,220) 195.172 At 31 December 2021 1 January 202 Income Expenditure General funds 116,694 4.133 {20,645} 100,182 18-
Aghaloo & Blackwater Community Association Ltd Company Limited by Guarantee Notes to the Financial Statsments (eonlln(Ad) Year ended 31 December 2022 IS. An•ty81g of n•t •$8ets bth•en funds Unrestn'cted Total Funds Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Creditors greater than 1 year Not assets 168,627 28,805 {2.260) 168,627 28,805 (2,260) 195,172 195,172 Unrestricted Total Funds Funds 2021 Tangible fixed assets Current assets Creditors less than 1 year Credrtors greater than 1 year Net assets 180,657 180,657 21,102 21,102 (1.577) {1,577) (100,000) (100.000) 100,182 100,182 -19-