Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Company registration number: NI615573 HMRC Charity No: NI00647 Charity Commission for NI No: 103987
Craigavon Area Compassion Project Company limited by guarantee
Unaudited financial statements
Year ended 31[st] March 2025
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee
Contents
| Page | |
|---|---|
| Directors and other information | 1 |
| Report of the Trustees | 2 - 6 |
| Independent Examiners report | 7 |
| Statement of Financial Activity | 8 |
| Statement of Financial Position | 9 |
| Notes to the financial statements | 10 - 16 |
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee
| Directors | Mr Christopher Leech |
|---|---|
| Mr Philip Emerson | |
| Mr Martin Stevenson | |
| Mr Jim Gardiner | |
| Mr Maurice McDonagh | |
| Mrs Adriana Indiana | |
| Mrs Denise McReynolds | |
| Mrs Catherine M Skelton | |
| Company number | NI615573 |
| Registered office | Unit 5 Carn Business Park |
| 19 Carn Road | |
| Portadown | |
| Craigavon | |
| County Armagh | |
| BT63 5WG | |
| Business address | Unit 5 |
| 5 Carn Business Park | |
| 19 Carn Road | |
| Portadown | |
| Craigavon | |
| County Armagh | |
| BT63 5WG | |
| Accountants | JSR |
| 44 Blackisland Road | |
| Annaghmore | |
| Portadown | |
| Co Armagh | |
| BT62 1NE | |
| Bankers | Danske Bank |
| PO Box 183 | |
| Donegal Square West | |
| Belfast | |
| BT1 6JS |
Page 1
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee Trustees Report/ Directors Report
The Trustees are pleased to present their annual directors’ report together with the unaudited financial statements of the charity for the year ending 31st March 2025. This report has also been prepared to meet with the requirements for a director’s report and accounts for the purposes of the Companies Act.
The Directors/ Trustees who served during the year were as follows:
Mr Christopher Leech Mr Martin Stevenson Mr Philip Emerson Mr Jim Gardiner (appt.d 3[rd] June 2024) Mr Maurice McDonagh (appt.d 29[th] May 2024) Mrs Adriana Indiana (appt.d 24[th] April 2024) Mrs Denise McReynolds (appt.d 24[th] April 2024) Mrs Catherine M Skelton (appt.d 20[th] May 2024)
Risk Management
The trustees actively review any major risks, which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources for the incoming year. The trustees have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the most significant risks.
Overview of Craigavon Area Compassion Project (CACP)
This report provides an overview of the work of the Craigavon Area Compassion Project (CACP) from the 1st April 2024 to 31st March 2025.
The CACP is a grassroots, not-for-profit organisation committed to reducing poverty and financial hardship within the Craigavon area, empowering the residents of our communities to live fulfilling lives. The Craigavon area is home to approximately 80,000 people.
CACP has been in operation since 2012, and has a board of 8 Trustees. Its strength is its volunteer base with over 80 hours of volunteering on a regular basis. We have a Project manager working 20 hours per week; an Operations Manager working 30 hours per week; a Warehouse Manager working 10 hours per week; two Referral Officers working 20 and 15 hours per week; two Welcome & Wellness Officers working 15 hours per week; an Admin Officer at 8 hours per week; a Strategic Engagement Manager who worked 10 hours per week up to 31st March 2025 (this fixed term contract concluded at the of March 2025) and recently added to the team is a Fundraising and Strategic Partnership Officer at 20 hours per week.
CACP runs from a central office and warehousing facility in Carn, Portadown, and has outreach centres where it engages directly with clients in Lurgan, Portadown and Craigavon.
The primary purpose of Craigavon Area Compassion Project is to reduce and relieve poverty, financial hardship, inequalities, and to promote and protect health in the wider Craigavon Area.
We do this through three main projects. Additionally, CACP may carry out further poverty relief projects which fall under our stated charitable objectives.
The Trustees have had regard to the Northern Ireland Charity Commission’s benefit requirements, as demonstrated through the following overview of the year’s activities:
The notes on pages 10 to 16 form part of these financial statements.
Page 2
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee Trustees Report/ Directors Report
Our three main projects are:
1. Referral Pathways and Foodbank Operation
As an organisation, we are seen as a trusted place of support for those in crisis. Often people contact us due to our long-standing Foodbank project (Craigavon Area Foodbank) which provides a vital service to people in times of crisis. Our referrals team is the initial point of contact for clients, and whilst the immediate need is often food, we have developed a comprehensive referrals process which enables us to provide a wrap-around support service, connecting our clients with other agencies who can assist them in tackling the underlying reasons for their crisis. This trusted relationship with clients enables us to provide a community navigation service, ensuring that they are not alone as they journey through difficult life circumstances.
Our Foodbank operates on a best practice basis, following the model provided by the Trussell network. It seeks to combat food poverty in the Craigavon, Lurgan and Portadown areas by providing 7-day emergency, nonperishable food parcels and other essential items to individuals and families facing crisis due to low income, unemployment, benefits delays, domestic violence etc.
To ensure that CAF helps the most vulnerable and marginalised in the community, it works with over 50 agencies to identify and refer people and families to our services; these include statutory, voluntary, church and community organisations.
We aim to support an individual or family at their point of crisis but also providing a wrap-around support so that food help doesn’t lead to dependency. Over 80% of people referred will access the Foodbank only once or twice in a six-month period.
Our ability to continue our work is enhanced by our partnerships with local businesses such as Tesco & ASDA, who allow us to have a food collection point in store. Additionally, we receive donations from individuals, churches, schools and other organisations. Donations are mainly of food with some monetary donations.
2. ABC Community Food Hub Project
With support from Armagh Banbridge and Craigavon Council, the ABC Food Hub project is designed to receive and distribute surplus food from various sources to key trusted partners in the Borough, who are providing food- based support services. Partners of this project include Storehouse Banbridge, Via Wings, Dromore, Armagh Food Bank and Freedom Foods Pantry (Lurgan and Portadown). Additional beneficiaries include community groups, youth clubs and similar charities.
This project was co-designed with the council and other support agencies to ensure that a reliable supply of fresh and ambient food is available to support the social supermarket and wrap-around support services in the ABC Borough.
The Food Hub will continue to develop its strategic partnerships with local food producers in the coming year to tackle food waste and help businesses achieve their corporate social responsibility goals. Approximately 10 tonnes of food were redirected from landfill in this financial year.
3. Welcome & Wellness
Our Welcome & Wellness project was launched in January 2024 to help walk alongside those needing additional support outside of emergency food provision, with the aim of reducing long term foodbank use. In 2024/25, 60 individuals received support through tailored, expertly designed, wrap-around services.
The notes on pages 10 to 16 form part of these financial statements.
Page 3
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee Trustees Report/ Directors Report
We have also been working closely with Asylum Seekers and Refugees in the Craigavon Area. This has included working with the ABC Council Good Relations Team and Emmanuel Church, Portadown, to facilitate training courses and link up clients with support. Our Welcome & Wellness staff roles have been essential, providing the capacity to support individuals and families more than just signposting. The Referral Officers have made it possible to triage self-referrals better, and to build a better connection with our referral partners. It is our hope to continue to expand and increase our ability to empower and support those experiencing financial hardship and crisis. Through this work, we are already seeing many gain skills, confidence and most importantly, moving into a more financially stable and secure position.
Summary of Activity
This section provides an overview of activities, including referrals, donations, volunteers, publicity, management, and the proposed way forward.
- Referrals
For this 12-month period, 1,806 referrals were made into Craigavon Area Foodbank. This resulted in 5,140 people being supported with seven-day emergency supplies, that is the equivalent of over 35,980 days of food and other essential items.
For our normal operations, the main reasons for requiring support included:
-
Low income & debt
-
Benefit changes & delays
-
Sickness
-
Domestic Violence
-
Unemployment
People come from across the whole Craigavon area, including rural and more urban locations to access support from CAF. By ward, some of the areas included Ballybay, Brownlow, Mournview, Lough Road, Shankill, Killicomaine and extended to more rural areas such as Loughgall, Gilford and Magheralin. Many come from areas of deprivation.
Our centres are located in the top 8% most deprived areas in Northern Ireland (Multiple Deprivation Measure (MDM) ranges from 54-73 out of 890).
CAF supported people of all ages, from those under 5 to those over 65 and from all backgrounds and ethnicities. 2,278 three-day supplies were given to children. Of these 746 were aged 0-4. Single parents accounted for 23.54% of all referrals, which reflects the vulnerability of this group when it comes to support from the benefit system and the lack of suitable housing for this societal group.
- Partnership with agencies
CAF provides a wide range of agencies with Foodbank vouchers which enables them to determine if local people could benefit from an emergency supply. CAF received referrals from around 50 agencies. Some of the agencies worked with and from whom referrals were received included:
-
The Salvation Army (Lurgan and Portadown)
-
Emmanuel Church
-
Splash Surestart
-
Portadown Cares
-
Migrant Centre NI
-
Extern
-
Northern Ireland Housing Executive
-
Community Advice Craigavon
-
Chrysalis Women’s Centre
The notes on pages 10 to 16 form part of these financial statements.
Page 4
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee Trustees Report/ Directors Report
This list extends to other organisations including Health Visitor and Social Work teams and local Constituency Offices.
Over this year we have worked hard to keep our agencies engaged and establish new referral agencies. It is the CAF’s relationship with agencies which continues to ensure that people are identified and referred for emergency food support at a time of crisis.
-Donations
We received donations, mainly in the form of food, from many individuals, voluntary groups, churches and some businesses. In relation to non-perishable food and non-food essentials, CAF received 62,886.94kg of donations from over 60 organisations.
Most of our donations come through individuals donating through the Lurgan & Craigavon Tesco, and Portadown ASDA Permanent Collection Points in store. Local churches and businesses also gave very generously.
-Volunteers
Our volunteers are a valuable resource and the Trustees will seek to ensure that they are supported and that we broaden the variety of roles available to them. We hope that this would, in turn, help raise our profile and local awareness of poverty and food insecurity, enhancing our ability to signpost and refer. This will be done through the continued development of systems, processes and plans that will ensure we continue to meet quality assurance guidelines. Our volunteers work approximately 80 hours per week, which adds up to 4160 hours per year. This is the equivalent of almost £50,800 if we were to pay them each minimum wage.
-Future
In going forward, the Trustees have a number of areas they would like to focus on: We have been working to increase our financial donor base and want to focus on that in the next year and secure funding on a longer-term basis.
In addition, whilst we have a great network of referral agencies, the Trustees wish to continue to ensure that this network enables us to identify and support those most in need and ensure that we have, through donations, the correct stock to meet need.
Trussell have played a huge part in supporting CAF, both financially through grants, provision of a data capture system, and through training and oversight opportunities. Although Trussell continues to be a great support, there will be less grant money available going forward. As a help to improve financial sustainability, Trussell has given us a grant for the salary of a Fundraising and Strategic Partnership Officer for a two-year term.
Financial Overview
Total Incoming Resources £245,673 (2024: £201,944) Total Resources Expended £208,368 (2024: £150,140) Surplus for year £ 37,305 (2024: £51,804)
No funds held by the charity were in deficit either during the year or at the year end.
Supported by:
Armagh City, Banbridge & Craigavon District Council, Halifax Foundation for Northern Ireland & Seeded by the Trussel Trust
Registration Details:
The notes on pages 10 to 16 form part of these financial statements.
Page 5
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee Trustees Report/ Directors Report
Registered Northern Ireland Charity No: NIC103987 Registered Limited Company No: NI615573
Company Law requires the Trustees/ Directors to prepare the financial statements for each financial year. The Trustees/ Directors have taken the decision to prepare the financial statements in accordance with UK GAAP (United Kingdom Generally Accept Accounting Practice. According to Company Law, these accounts must not be approved by the Trustees/ Directors unless they are satisfied that these accounts give a true and fair view of the state of affairs of the company and its income and expenditure.
In preparing these financial statements the trustees are required to:
-
Select suitable accounting policies and apply them consistently
-
Observe the methods and principles in the Charities SORP
-
Make judgements and accounting estimates that are reasonable and prudent
-
State whether applicable UK Accounting Standards have been followed, subject to any material departures
-
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.
The Trustees are responsible for keeping adequate records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enabled them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the preventions and detection of fraud and other irregularities.
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 Trustees, and signed on its behalf by:
208E2AAFOFAF4EB... ACE942CE055B4B39... Mr Christopher Leech Mr Martin Stevenson Director Director
11 November 2025
Date: Date: 03 November 2025
The notes on pages 10 to 16 form part of these financial statements.
Page 6
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee Independent examiner’s report to the charity trustees of
I report on the accounts of the company for the year ended 31[st] March 2025, which are set out on pages 8 to 16.
Respective responsibilities of charity trustees and examiner
As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
-
examine the accounts under section 65 of the Charities Act
-
follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act
-
state whether particular matters have come to my attention.
Basis of independent examiner’s report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
-
That accounting records were not kept in accordance with section 386 of the Companies Act 2006
-
That the accounts do not accord with those accounting records
-
That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice CCNI ARR07 – supporting document 7 August 2016 applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
-
That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner’s statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
(nat9675CCF2B9E3400... by: Jonathan Ross FCA
44 Blackisland Road, Annaghmore Portadown BT62 1NE
Date: 03 November 2025
The notes on pages 10 to 16 form part of these financial statements.
Page 7
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee
Statement of Financial Activities (to include Income and Expenditure account) Period ended 31[st] March 2025
| For the period ended 31st March 2025 Incoming Resources Notes Voluntary income 2 Total Incoming Resources Resources Expended Charitable activities 3 Running Costs/ Administrative costs 4 Governance Costs 5 Total Resources Expended Net incoming/ outgoing resources before transfers Gross transfers between funds Net movement in funds Reconciliation of funds Total funds brought forward Total funds carried forward 10, 11 |
Unrestricted Funds £ 64,813 64,813 - 29,802 1,075 30,877 33,936 33,936 95,532 129,468 |
Restricted Funds £ 180,860 180,860 29,665 147,526 300 177,491 3,369 - 3,369 13,721 17,090 |
Total Funds £ 245,673 245,673 29,665 177,328 1,375 208,368 37,305 - 37,305 109,253 146,558 |
Prior year £ 201,944 |
|---|---|---|---|---|
| 201,944 | ||||
| 13,231 135,579 1,330 |
||||
| 150,140 | ||||
| 51,804 | ||||
| - | ||||
| 51,804 57,449 |
||||
| 109,253 |
All income was derived from continuing activities, therefore no statement of total recognised gains and losses is required
The notes on pages 10 to 16 form part of these financial statements.
Page 8
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee Statement of Financial Position 31[st] March 2025
| Notes: | 2025 | 2024 | |
|---|---|---|---|
| £ | £ | ||
| Fixed Assets | 6 | 19,996 | 27,471 |
| Current Assets | |||
| Stock | 7 | 3,000 | 3,000 |
| Cash as Bank and in hand | 7 | 231,096 | 156,465 |
| Debtors | 7 | 5,851 | - |
| Creditors falling due within 1 year | |||
| Other creditors and accruals | 8 | (2,874) | (3,781) |
| Total assets less current liabilities | 257,069 | 183,155 | |
| Creditors falling due after more than 1 year Net Assets Represented by: |
9 | (110,511) 146,558 |
(73,902) 109,253 |
| Unrestricted | 129,468 | 95,532 | |
| Funds | |||
| Restricted funds | 17,090 | 13,721 | |
| 10, 11 | 146,558 | 109,253 |
For the year ending 31[st] March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
-
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 FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
These financial statements were approved by the board of directors and authorised for issue and are signed on behalf of the board by:
| CSignedeed by: | MartDocuS i gnedv Stumnsowby: 208E2AAFOFAF4EB... ACE942CE055B4B39... Mr Christopher Leech Mr Martin Stevenson Director Director Date: Date: 03 November 2025 11 November 2025 Company registration number: NI615573
The notes on pages 10 to 16 form part of these financial statements.
Page 9
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee
Notes to the financial statements Period ended 31[st] March 2025
1. Accounting policies
The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:
Basis of preparation
The financial statements have been prepared in accordance with the Accounting and Reporting Charities: 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 1A) (effective January 2015) – Charities SORP (FRS 102)).
Going Concern
The Trustees are of the view that the continued operation of the charity is ensured and on the basis of their regular review of income and expenditure, and their routine cash-flows. On this basis they have determined the charity to be a going concern.
Fund Accounting
General Funds are Unrestricted Funds which are available for use at the discretion of the Trustees in the furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated Funds comprise Unrestricted Funds that have been set aside by the Trustees for a particular purpose.
Restricted Funds are funds that are to be used in accordance with specific restrictions as imposed by the donor/s, or which have been raised by the charity for a particular purpose.
Income Recognition Policy
Items of income are recognised and included in the accounts when all of the following criteria are met:
-
The charity is entitled to the funds
-
Any performance conditions attached to the item of income has been met or are fully within the control of the charity
-
There is sufficient certainty that the receipt of the income is considered probable; and
-
The amount can be measured reliably
Donated Services and facilities
In accordance with the Charities SORP (FRS 102), the general volunteer time of supporters is not recognised.
Expenditure and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:
-
Expenditure on charitable activities includes the purchase of foodstuff for delivery to those in need
-
Other Expenditure represents those items not falling into any other heading
The charity is not registered for VAT; all VAT incurred on purchases is therefore irrecoverable. The cost inclusive of VAT is therefore charged to the income and expenditure account against the activity for which the expenditure was incurred.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Page 10
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee
Notes to the financial statements Period ended 31[st] March 2025
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss.
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:
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
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. 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 are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Page 11
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee
Notes to the financial statements Period ended 31[st] March 2025
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible preference shares and non-puttable ordinary shares or preference 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 profit or loss. 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 profit or loss, with the exception of hedging instruments in a designated hedging relationship.
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 in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss 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.
| 2. Voluntary Income Donations received Grant from ABC Council 3. Charitable activities Opening Stock Purchases of foodstuffs Participation Project Welcome Project Volunteer Gifts Closing Stock |
Unrestricted £ 64,813 - 64,813 |
Restricted £ 177,491 3,369 180,860 |
Total Funds £ 242,304 3,369 245,673 |
Prior year £ 197,733 4,211 |
|---|---|---|---|---|
| 201,944 | ||||
| Unrestricted £ 3,000 - - - - (3,000) - |
Restricted £ - 23,920 2,976 1,028 1,741 - 29,665 |
Total Funds £ 3,000 23,920 2,976 1,028 1,741 (3,000) 29,665 |
Prior year £ 2,000 14,231 - - - (3,000) |
|
| 13,231 |
Page 12
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee
Notes to the financial statements Period ended 31[st] March 2025
4. Running costs/ Admin expenses
| Salaries Directors Salary Pensions costs Staff Training Rent Rates Insurance Computer bureau costs Light & heat Repairs & maintenance Printing, postage & stationery Advertising Telephone Motor & travel Bank Charges Staff Uniforms/ protective clothing Sundry Expenses Subscriptions Depreciation 5. Governance Costs Accountancy |
Unrestricted £ -- - - - - - 1,411 611 10,041 838 682 742 642 4,568 306 - 201 145 9,615 29,802 Unrestricted £ 1,075 1,075 |
Restricted £ 111,217 12,869 4,719 200 18,264 - - - - - - - - - - - - - 257 147,526 Restricted £ 300 300 |
Total Funds £ 111,217 12,869 4,719 200 18,264 - 1,411 611 10,041 838 682 742 642 4,568 306 - 201 145 9,872 177,328 Total Funds £ 1,375 1,375 |
Prior year £ 73,789 9,322 1,575 1,390 18,264 - 814 986 10,139 3,472 920 - 573 3,453 298 844 20 95 9,625 135,579 Prior year £ 1,330 1,330 |
Prior year £ 73,789 9,322 1,575 1,390 18,264 - 814 986 10,139 3,472 920 - 573 3,453 298 844 20 95 9,625 |
||
|---|---|---|---|---|---|---|---|
| 135,579 | |||||||
Page 13
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee
Notes to the financial statements Period ended 31[st] March 2025
| 6. 7. 8. |
Tangible Fixed Assets Cost At 1 April Additions Disposals At 31 March 2025 Depreciation At 1 April Charge Disposals At 31 March 2025 Net Book Value At 31 March 2025 At 31 March 2024 Current Assets Cash at bank and in hand Debtors Stock Creditors less than 1 yr Trade creditors PAYE Accruals |
Buildings £ - - - - - - - |
Plant & Machinery £ 15,932 - 15,932 11,275 932 12,207 3,725 |
Furniture & Equipment £ 43,475 2,398 45,873 20,661 8,941 29,602 16,271 |
Total £ 59,407 2,398 - |
|
|---|---|---|---|---|---|---|
| 61,805 | ||||||
| 31,936 9,873 - |
||||||
| 41,809 | ||||||
| 19,996 | ||||||
| - | 4,657 | 22,814 2025 £ 231,095 5,851 3,000 239,946 2025 £ 1,522 - 1,350 2,872 |
27,472 | |||
| 2024 £ 156,466 - 3,000 |
||||||
| 159,466 | ||||||
| 2024 £ 1,522 1,466 792 |
||||||
| 3,780 |
Page 14
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee
Notes to the financial statements Period ended 31[st] March 2025
9. Creditors greater than 1 yr
| ors greater than 1 yr Balance B/ fwd Government Grants Received Government Grant Released |
2025 £ 73,902 216,478 (179,869) 110,511 |
2024 £ 53,887 168,062 (148,047) 73,902 |
|---|---|---|
| 10. Reconciliation of Reserves B/fwd 1 April 2024 Surplus C/fwd 31 March 2025 |
Unrestricted £ 95,532 33,936 129,468 |
Restricted £ 13,721 3,369 17,090 |
Total Funds £ 109,253 37,305 146,558 |
Prior year £ 57,449 51,804 |
|---|---|---|---|---|
| 109,253 |
11. Analysis of Net Assets between Funds
| 2025 Tangible Fixed Assets Current Assets Current Liabilities Liabilities greater than 1 year 2024 Tangible Fixed Assets Current Assets (restated) Current Liabilities Liabilities greater than 1 year |
Unrestricted £ 3,648 128,694 (2,874) - 129,468 Unrestricted £ (restated) 7,036 92,277 (3,781) - 95,532 |
Restricted £ 16,348 111,253 - (110,511) 17,090 Restricted £ (restated) 20,435 67,188 - (73,902) 13,721 |
Total Funds £ 19,996 239,947 (2,874) (110,511) |
|---|---|---|---|
| 146,558 | |||
| Total Funds £ 27,471 159,465 (3,781) (73,902) 109,253 |
The Current Assets figures held under ‘Unrestricted’ and ‘Restricted’ funds as noted above for 2024 are noted as ‘Restated’ within this accounts. The allocation of these figures between the ‘Restricted’ and ‘Unrestricted’ funds in the ‘Analysis of Net Assets between Funds’ was misstated within the 2024 accounts; it is for this reason that these figures are now ‘Restated’. As this misstatement related only to this particular Disclosure Note relating to how these funds were analysed; the Balance Sheet and SoFA are unaffected. It is therefore not deemed to be Material or to have had any impact on the True and Fair view of the accounts.
Page 15
Docusign Envelope ID: 2678A62C-EA01-4B0E-8F61-C3AEEC61ABEE
Craigavon Area Compassion Project Company limited by guarantee
Notes to the financial statements Period ended 31[st] March 2025
| 12. Trustee & Staff Costs Staff salary Directors Salary Pensions |
Unrestricted £ - - - - |
Restricted £ 111,217 12,869 4,719 128,805 |
Total Funds £ 111,217 12,869 4,719 128,805 |
Prior year £ 73,789 9,322 1,575 |
|---|---|---|---|---|
| 84,686 |
There were ten part time employees during the year ended 31[st] March 2025 (2024; ten). One Trustee/ director received a salary during the year in respect of his services as Strategic Engagement Manager, and not in his capacity as Trustee/ director. No other Trustee/ director received any remuneration or any other benefit from his/ her trusteeship with the charity in the year (2024; £Nil).
No Trustee received payment for professional or other services supplied to the charity (2024; £Nil)
13. Limited by guarantee
Craigavon Area Compassion Project Limited is a company limited by guarantee and accordingly does not have any share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1.00 to the assets of the company in the event of its being wound up while he or she is a member, or within one year after he or she ceases to be a member.
Page 16