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 ap￿￿ble to chaiities preparing their accounts in accordance with the
Financkal Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charrties
SORP <FRS 102)> and the Companies Act 20C6.
Accountlng pollcl•8
Ba816 of prgparatlon
The financial statements have been wepared on the historical cost basis. as modified by the
revaluation of certain fin2ncial assets and IHbilts'eS and investment proparb'8s measured at fair
value through income or expendrture.
The Ilnancial ststements are prepared in sterfing, which is the functional currency of the entity.
Golng con¢ern
There are no material uncertaints'es about the chwtys abilty to conts'nue.
Dl8clo8uro oxemptlon8
The Charity has taken advantage of the provisions in he SORP for ch8riti.es applylng FRS 102
Updata Bulletin 1 not to Prepare a Staternent of Cashfltrws.
Judgements and key 8oure•s of estlmatlon uncertalnty
In the appkalion of the chariils xcounting policies. the Trustees are required to make
judgements. estimates and assumpiions ab￿rt the carrying value of assets and liabilrties that are
not readity appa￿nt frorn other sources. The estimates and associated assumptions are based
on historical experience and Oth￿ factors that are consKlered to be retevanL Actual results may
differ from these estimates.
The estFmates and under￿.ng assumptsons are revwed on an ongoing basis. Revisions to the
accounting estimatss are recognised in the pe￿d in which the estimate is revised where the
revision affects onty that penod. or in the FEfK)d of revision and future periods where the revision
affects current and future perDts.
-13-

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
DeS￿nated 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 foll0v￿ng specific policies are
applied to parbcular categories of income:
in￿ffie from donations or grants is recognised vrtjen there is evidence of entrtlement to the
gtTr re￿ipt 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 ServI￿S 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 exp￿dilure 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 wh￿h 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 eX￿ed$ 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 asS￿ned 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 r￿1Ved and not discounted.
Debt instruments a￿ subsequenty measured at anN)rtI￿ cost
whe￿ investments in shares are pUbl￿Y 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
deS￿nated 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 obje￿1Ve evidence of impairment, an
impairment loss is recognised under the appropnate heading in the statement of financial
activrties in which the In￿al gain was recoJnis&l.
For all equty instruments regardless of s￿nIfiCanCe, 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 d￿S 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
un￿tricted Totsl Funds Unre*ricted 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 r￿nuneratiOn and expenses
No remuneration was r￿1Ved 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-