Registration number NI035332 

**Carntogher Community Association** 

**Registered Charity Number: NIC 104017** 

**Trustees' report and financial statements for the year ended 31 December 2022** 



## **Contents** 

||**Page**|
|---|---|
|Company Information|**1**|
|Trustees Report|**2-26**|
|Auditors' report|**27-29**|
|Statement of financial activities|**30-31**|
|Balance sheet<br>|**32**|
|Cash flow statement<br>|**33**|
|Notes to the financial statements|**34 – 45**|





## **Company information** 

|Trustees|Niall O'Kane||
|---|---|---|
||Liam O Flannagan|Chairperson|
||John Donnelly||
||Karen Mills|Appointed 18thFeb 2022|
||Barry Glass|Appointed 28thFeb 2022|
|Secretary|Niall O'Kane||
|Key Management Personnel     Claire Doherty||Centre Manager|
||Leonne Lindsay|Project Manager|
||Joseph Doherty|Project Manager|
||Kelly Hann|Project Manager|
|Company number|NI035332||
|Registered office|132A Tirkane Road||
||Maghera||
||Co Derry||
||BT46 5NH||
|Auditors|EM Accountants||
||42A-44A New Row||
||Coleraine||
||BT52 1AF||
|Business address|132A Tirkane Road||
||Maghera||
||Co Derry||
||BT46 5NH||
|Bankers|Bank of Ireland||
||11 Market Street||
||Magherafelt||
||Co Derry||
||BT45 6EE||



**1** 



## **Carntogher Community Association Independent auditors' report to the trustees of Carntogher Community Association** 

## **Opinion** 

We have audited the financial statements of Carntogher Community Association for the year ended 31 December 2022 which comprise the statement of financial activities, the balance sheet, related notes including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the charitable company’s affairs as at 31[st] December 2022, and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion . 

## **Conclusions Relating to Going Concern** 

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 

## **Other information** 

The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

**27** 



We have nothing to report in this regard. 

## **Opinion on other Matter Prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- The information given in the Trustees’ report for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- The trustees’ report has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees’ report. 

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: 

- the charitable company has not kept adequate and sufficient accounting records, or returns adequate  for our audit have not been received; or 

- the charitable company financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit. 

- the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemption in preparing the directors' report and from the requirement to prepare a strategic report. 

## **Respective responsibilities of trustees** 

As explained more fully in the Trustees Responsibilities Statement set out, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the annual report and the financial statements and being satisfied that they give a true and fair view and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor’s responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 

**28** 



Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 

- We obtained an understanding of laws and regulations that affect the company, focusing on those that had a direct effect on the financial statements or that had a fundamental effect on its operations.  Key laws and regulations that we identified included the UK Companies Act, the Charity Commission for Northern Ireland, tax legislation, employment legislation, safeguarding/child protection. 

- We enquired of the directors, reviewed correspondence with HMRC for evidence of non-compliance with relevant laws and regulations.  We also reviewed controls the trustees have in place to ensure compliance. 

- We gained an understanding of the controls that the trustees have in place to prevent and detect fraud.  We enquired of the trustees about any incidences of fraud that had taken place during the accounting period. 

- The risk of fraud and non-compliance with laws and regulations and fraud was discussed within the audit team and tests were planned and performed to address these risks. 

- We reviewed financial statements disclosures and tested to supporting documentation to assess compliance with relevant laws and regulations. 

- We enquired of the trustees about actual and potential litigation and claims. 

- We performed analytical procedures to identify any unusual or unexpected relationships that might indicate risks of material misstatement due to fraud. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission, or misrepresentation. 

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website www.frc.org/auditresponsibilities.  This description forms part of our auditor’s report. 

## **Use of our report** 

This report is made solely to the charitable company’s trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s trustees as a body, for our audit work, for this report, or for the opinions we have formed. 

..................................... **Paul McKillop, FCCA (senior statutory auditor) For and on behalf of EM Accountants, Statutory Auditor** 

**42A-44A New Row Coleraine BT52 1AF** 

**DATE: 21st December 2023** 

**29** 



## **Carntogher Community Association** 

## **Statement of financial activities (incorporating summary income and expenditure account) for the year ended 31 December 2022** 

|||**Restricted Unrestricted**|**Restricted Unrestricted**|**2022**|**2021**|
|---|---|---|---|---|---|
||**Notes**|**£**|**£**|£|£|
|**Incoming and endowments from**||||||
|Donations, legacies and gifts||-|5,212|5,212|61,862|
|Grants receivable|**2**|302,851|-|302,851|372,099|
|Activities for generating funds||||||
|Fundraising and sponsorship||-|-|-|10|
|Investment income|**4**|-|18,062|18,062|18,000|
|Course fees||-|26,848|26,848|14,982|
|Other income|**5**|-|49,734|49,734|48,324|
|||_______|_______|_______|_______|
|**Total income and endowments**||302,851|99,856|402,707|515,277|
|||_______|_______|_______|_______|
|**Charitable expenditure**||||||
|Direct Activity Costs|**6**|206,962|286,161|493,123|376,732|
|Other governance costs||2,600|2,720|5,320|7,815|
|||_______|_______|_______|_______|
|**Total expenditure**||209,562|288,881|498,443|384,547|
|**Net income/(expenditure) before transfers**||93,289|(189,025)|(95,736)|130,730|
|Gross transfers between funds|**10**|(63,576)|63,576|-|-|
|||_______|_______|_______|_______|
|**Net income/(expenditure) for year/net income/(loss)**||29,713|(125,449)|(95,736)|130,730|
|Fund balances brought forward at 1 January 2022||2,280,279|295,228|2,575,507|2,444,777|
|||_______|_______|_______|_______|
|Fund balances brought forward at 31 December|2022**16**|2,309,992|169,779|2,479,771|2,575,507|
|||_______|_______|_______|_______|



All amounts relate to continuing operations of the charity. 

The charity has no recognised gains or losses other than those included in the results above, and therefore no separate statement of gains and losses has been presented. 

## **The notes on pages 34 to 45 form an integral part of these financial statements** 

**30** 



## **Carntogher Community Association** 

## **Statement of financial activities (incorporating summary income and expenditure account) for the year ended 31 December 2021** 

|||**Restricted Unrestricted**|**Restricted Unrestricted**|**2021**|
|---|---|---|---|---|
||**Notes**|**£**|**£**|£|
|**Incoming and endowments from**|||||
|Donations, legacies and gifts||-|61,862|61,862|
|Grants receivable|**2**|323,277|48,822|372,099|
|Activities for generating funds|||||
|Fundraising and sponsorship||-|10|10|
|Investment income|**4**|-|18,000|18,000|
|Incoming resources from charitable activities|||||
|Course fees||-|14,982|14,982|
|Other income|**5**|-|48,324|48,324|
|||_______|_______|_______ _______|
|**Total income and endowments**||323,277|192,000|515,277|
|||_______|_______|_______|
|**Expenditure on**|||||
|Costs of generating voluntary income|||||
|Interest payable and other charges|**8**|1,378|672|2,050|
|Marketing and publicity||1,319|2,430|3,749|
|||_______|_______|_______|
|**Total costs of generating funds**||2,697|3,102|5,799|
|||_______|_______|_______|
|**Charitable expenditure**|||||
|Charitable activities|||||
|Running and operating costs|**6**|179,673|191,260|370,933|
|Other||-|7,815|7,815|
|||_______|_______|_______|
|||179,673|199,075|378,748|
|||_______|_______|_______|
|**Total expenditure**||182,370|202,177|384,547|
||||||
|||_______|_______|_______|
|**Net income/(expenditure) before transfers**||140,907|(10,177)|130,730|
|Gross transfers between funds|**10**|(61,458)|61,458|-|
|||_______|_______|_______ _______|
|**Net income/(expenditure) for year/net income/(loss)**||79,449|51,281|130,730|
|Fund balances brought forward at 1 January 2021||2,200,830|243,947|2,444,777|
|||_______|_______|_______|
|Fund balances brought forward at 31 December|2021**16**|2,280,280|295,227|2,575,507|
|||_______|_______|_______|



All amounts relate to continuing operations of the charity. 

The charity has no recognised gains or losses other than those included in the results above, and therefore no separate statement of gains and losses has been presented. 

## **The notes on pages 34 to 45 form an integral part of these financial statements** 

**31** 



## **Carntogher Community Association Balance sheet** 

## **as at 31 December 2022** 

|**Notes**<br>**Fixed assets**<br>Tangible assets<br>**12**<br>Investments<br>**13**<br>**Current assets**<br>Stocks<br>Debtors<br>**14**<br>Cash at bank and in hand<br>**Creditors: amounts falling**<br>**due within one year**<br>**15**<br>**Net current (liabilities)/assets**<br>**Total assets less current**<br>**liabilities**<br>**Net assets**<br>**Capital and reserves**<br>Restricted reserves<br>**16**<br>Unrestricted Reserves<br>**16**<br>**Shareholders' funds**|**2022**<br>**£**<br>**£**<br>2,339,192<br>20,000<br>5,300<br>74,665<br>100,057<br>_______<br>180,022<br>(59,443)<br>_______<br>120,579<br>_______<br>2,479,771<br>_______<br>2,479,771<br>_______<br>2,309,992<br>169,779<br>_______<br>2,479,771<br>|**2021**<br>**£**<br>**£**<br>2,342,972<br>20,000<br>4,640<br>159,884<br>104,367<br>_______<br>268,891<br>(56,356)<br>_______<br>212,535<br>_______<br>2,575,507<br>_______<br>2,575,507<br>_______<br>2,280,279<br>295,228<br>_______<br>2,575,507<br>|
|---|---|---|



These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies and in accordance with the Accounting and Reporting by 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 issued in October 2019 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102). 

The financial statements were approved and authorised for issue by the Board on 21st December 2023 and signed on its behalf by 

## **Niall O'Kane Trustee** 

## **Registration No. NI035332** 

**The notes on pages 34 to 45 form an integral part of these financial statements** 

**32** 



## **Carntogher Community Association Cash Flow Statement for the year ended 31 December 2022** 

|**Notes**<br>**Cash flow from operating activities**<br>**18**<br>**Net cash flow from operating activities**<br>**Cash flow from investing activities**<br>Payments to acquire tangible fixed assets<br>Payments to acquire shares<br>Interest Received<br>**Net cash flow from investing activities**<br>**Net increase/(decrease) in cash and cash equivalents**<br>**Cash and cash equivalents at 1st January**<br>**Cash and cash equivalents at 31st December**|**2022**<br>**£**<br>66,331<br>66,331<br>(70,641)<br>-<br>-<br>(70,641)<br>(4,310)<br>104,367<br>100,057|**2021**<br>**£**<br>150,781|
|---|---|---|
|||150,781|
|||(49,446)<br>(20,000)<br>1|
|||(69,945)|
|||80,836<br>23,531<br>104,367|



**The notes on pages 34 to 45 form an integral part of these financial statements** 

**33** 



**Carntogher Community Association Notes to the financial statements** 

**for the year ended 31 December 2022** 

## **1 Accounting policies** 

## **Charity Information** 

Carntogher Community Association is a private company limited by guarantee incorporated in Northern Ireland.  The registered office is An Carn, 132a Tirkane Road, Maghera. BT46 5NH.  Carntogher Community Association is a public benefit entity. 

## **1.1. Basis of preparation** 

The financial statements are prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (FRS102), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015. 

The company has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small company. 

The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £ and the trustees have concluded that the financial statements give a true and fair view. 

The accounts have been prepared under the historic cost convention.  The principal accounting policies adopted are set out below. 

## **1.2. Tangible fixed assets and depreciation** 

The carrying value of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying value may not be recoverable. 

Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: 

Buildings                -   2%  Straight line Equipment               - 20%  Reducing balance Office equipment       - 20%  Reducing balance 

## **1.3. Investments** 

Income from investments is included, together with the related tax credit, in the year in which it is received.  Rent receivable from investment property is classified as investment income. 

## **1.4. Incoming resources** 

- Income is recognised on a receivable basis when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.  The specific bases are as follows: 

## **Donations and gifts** 

Voluntary income received by way of donations and gifts to the charity is included in full in the Statement of Financial Activities when received. 

**34** 



**Carntogher Community Association Notes to the financial statements** 

**for the year ended 31 December 2022** 

………….. continued 

## **Grants** 

Revenue grants are credited to incoming resources on the earlier date of when they are received or  when they are receivable, unless they relate to a specified future period, in which case they are  deferred. Grants for the purpose of capital expenditure are credited to restricted incoming resources when receivable and released to revenue over the estimated useful life of the relevant assets. 

## **1.5. Resources expended** 

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with use of the resources.  Staff  costs and overhead expenses are allocated to activities on the basis of staff time spent on those  activities. 

## **Costs of generating fund** 

Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of other income generation e.g., the costs associated with investment portfolio. 

## **Charitable expenditure** 

Charitable expenditure comprises direct expenditure including direct staff costs to its activities. Where costs cannot be directly attributed, they have been allocated to activities on a basis consistent with the use of resources. 

## **Governance costs** 

Governance costs include those incurred in the governance of its assets and are associated with constitutional, statutory and strategic requirements. 

## **1.6. Debtors** 

Debtors are stated after all known bad debts have been written off and specific provision has been made against all debts considered doubtful of collection. 

## **1.7. Fund accounting** 

The charity has various types of funds for which it is responsible, and which require separate disclosure. Definitions of the various types of funds are as follows. 

## **Restricted funds** 

Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of overheads and support costs. 

## **Unrestricted funds** 

Unrestricted funds are donations and other incoming resources received or generated which are expendable at the discretion of the charity in furtherance of its objectives. 

**35** 



**Carntogher Community Association Notes to the financial statements for the year ended 31 December 2022** 

………….. continued 

## **1.8. Stock** 

Stock is valued at the lower of cost and net realisable value. 

## **1.9. Employee benefits** 

When employees have rendered service to the charity, the short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service. 

The company operated a defined contribution plan for the benefit of its employees.  The pension cost charged in the financial statements represent the contribution payable by the company during the year. The regular cost of providing retirement pensions and related benefits is charged to the statement of financial activities over the employees’ service lives on the basis of a constant percentage of earnings. 

## **1.10.      Judgements and key sources of estimation uncertainty** 

In the application of the charity’s accounting policies, the trustees are required to make judgements (apart from those involving estimates), estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources.  The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. 

The estimates and underlying assumptions are reviewed on an ongoing basis.  Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the revision and future period where the revision affects both current and future periods. 

## **1.11.    Going Concern** 

The trustees have considered the effect of Brexit and the cost-of-living crisis on the Charity and its ability to meet its working capital requirements.  Having considered all matters the Trustees believe that there are no material uncertainties about the charity’s ability to continue. 

**36** 



**Carntogher Community Association Notes to the financial statements for the year ended 31 December 2022** 

………….. continued 

## **2. Grants receivable** 

|**Restricted     Unrestricted**<br>**£**<br>**£**<br>AFA<br>10,000<br>-<br>Arts Council<br>36,609<br>-<br>Mid Ulster Council<br>19,743<br>-<br>Foras na Gaeilge<br>99,250<br>-<br>Heritage Lottery Fund<br>77,072<br>-<br>Ciste<br>30,177<br>-<br>CnaG<br>-<br>-<br>Department for Communities<br>30,000<br>-<br>Glor na nGael Teor<br>-<br>-<br>_______<br>_______<br>302,851<br>-<br> <br>|**2022**<br>**£**<br>10,000<br>36,609<br>19,743<br>99,250<br>77,072<br>30,177<br>-<br>30,000<br>-<br>_______<br>302,851<br>|**2021**<br>**£**<br>10,000<br>35,000<br>45,131<br>120,645<br>38,976<br>36,084<br>31,816<br>5,625<br>48,822<br>_______<br>372,099<br>|
|---|---|---|



Grants receivable in the 2021 year were all restricted except for £48,822 received from GLor na nGael Teor 

|<br>**3.       Auditors' remuneration**<br> <br> <br>Auditors' remuneration - audit of the financial statements<br> <br>Auditors' remuneration – other services<br> <br>**4.**<br>**Investment income**<br> <br> <br>Rental income<br>|**2022**<br>**£**<br>1,950<br>______<br>2,200<br>______<br>**2022**<br>**£**<br>18,062<br>_______<br>18,062<br>|**2021**<br>**£**<br>1,950<br>_______<br>1,950<br>_______<br>**2021**<br>**£**<br>18,000<br>_______<br>18,000<br>|**2021**<br>**£**<br>1,950<br>_______<br>1,950<br>_______<br>**2021**<br>**£**<br>18,000<br>_______<br>18,000<br>|
|---|---|---|---|
|||_<br> <br>||
|||_<br> <br> <br>||
||||_______<br>18,000<br>|



**37** 



## **Carntogher Community Association Notes to the financial statements for the year ended 31 December 2022** 

………….. continued 

## **5. Other Income** 

||||
|---|---|---|
|**Other Income**<br>Room hire and office rent<br>Internet and services provided<br>Access NI forms<br>Livestock sales and single farm payment<br>Glor Na Gael Prize Money<br>Colaiste Fees<br>Coronavirus Job Retention scheme<br>Social events<br>ROCS<br>Visiting groups<br>Other miscellaneous income|**2022**<br>**£**<br>9,808<br>5,246<br>114<br>7,624<br>5,647<br>-<br>-<br>11,105<br>1,221<br>7,636<br>1,333<br>_______<br>49,734<br>|**2021**<br>**£**<br>2,116<br>541<br>101<br>8,095<br>16,786<br>3,490<br>9,262<br>6,602<br>1,180<br>151<br>-<br>|
|||_______<br>48,324<br>|



## **6. Charitable expenditure** 

||**Restricted**|**Unrestricted**|**2022**|**2021**|
|---|---|---|---|---|
||**£**|**£**|**£**|**£**|
|**Direct activity costs**|||||
|Wages and salaries|107,166|114,345|221,511|162,596|
|Staff training|-|173|173|2,546|
|Pension costs|6,591|-|6,591|4,616|
|Recruitment fees|-|176|176|-|
|Bank charges|-|901|901|684|
|Loan interest|-|961|961|1,366|
|Projects|53,796|26,725|80,521|63,230|
|Marketing and publicity|1,559|6,759|8,318|3,749|
|Catering|362|3,910|4,272|192|
|Tutors fees|13,862|10,173|24,035|21,262|
|Rent and administration|4,776|-|4,776|1,391|
|Rates|-|3,126|3,126|1,789|
|Printing, postage and stationery|850|4,248|5,098|1,975|
|Heat, light and power|9,401|24,596|33,997|12,391|
|IT Maintenance|2,179|2,408|4,587|1,891|
|Repairs and maintenance|2,690|3,384|6,074|9,107|
|Furnishings|387|829|1,216|-|
|Travelling expenses|171|341|512|-|
|Bad Debt write off|-|54|54|-|
|Farm expenses and stock movement|-|65|65|1,020|
|Insurance|1,125|5,249|6,374|6,434|





## **Carntogher Community Association** 

|Continued….<br>Depreciation<br>Telephone<br>Miscellaneous<br>Scholarships<br>Charitable donations|-<br>2,047<br>-<br>-<br>-<br>_______<br>206,962<br>|74,422<br>1,639<br>1,552<br>125<br>-<br>_______<br>286,161<br>|74,422<br>3,688<br>1,552<br>125<br>-<br>_______<br>493,123<br>|75,174<br>4,360<br>937<br>-<br>22<br>|
|---|---|---|---|---|
|||||_______<br>376,732<br>|



**38** 



## **Carntogher Community Association** 

## **Notes to the financial statements for the year ended 31 December 2022** 

.................... continued 

|**Restricted**<br>**Unrestricted**<br>**£**<br>**£**<br>**Running and operating costs**<br>Wages and salaries<br>90,709<br>71,887<br>Staff training<br>-<br>2,546<br>Pension costs<br>2,744<br>1,872<br>Youth, projects and training workshops<br>52,333<br>10,897<br>Catering<br>-<br>192<br>Tutors’ fees<br>11,781<br>9,481<br>Rent payable<br>1,391<br>-<br>Rates<br>-<br>1,789<br>Printing, postage and stationery<br>878<br>1,097<br>Heat, light and power<br>10,322<br>2,069<br>Repairs and maintenance<br>809<br>8,298<br>Travelling expenses<br>-<br>-<br>Bad Debt write off<br>-<br>-<br>Farm expenses and stock movement<br>-<br>1,020<br>Insurance<br>4,344<br>2,090<br>Depreciation<br>-<br>75,174<br>Telephone<br>3,519<br>841<br>Miscellaneous<br>-<br>937<br>Charitable donations<br>-<br>22<br>Computer costs<br>842<br>1,049<br>_______<br>_______<br>179,673<br>191,260<br>_______<br>_______<br>**7.**<br>**Net outgoing resources for the year**<br>Net outgoing resources for the year after charging:<br>Staff costs (Note 9)<br>Depreciation of owned assets|**2021**<br>**£**<br>162,596<br>2,546<br>4,616<br>63,230<br>192<br>21,262<br>1,391<br>1,789<br>1,975<br>12,391<br>9,107<br>-<br>-<br>1,020<br>6,434<br>75,174<br>4,360<br>937<br>22<br>1,891<br>_______<br>370,933<br>_______<br>**2022**<br>**£**<br>228,102<br>74,422<br>|**2021**<br>**£**<br>167,212<br>75,174<br>|
|---|---|---|



No indemnity insurance for trustee's liability has been purchased by the charity. 

**39** 



## **Carntogher Community Association** 

## **Notes to the financial statements for the year ended 31 December 2022** 

.................... continued 

|**8.**<br>**Interest payable and other charges**<br>Interest payable on loans and bank charges|**2022**<br>**£**<br>1,862<br>|**2021**<br>**£**<br>2,050<br>|
|---|---|---|



|**9.**|**Employees**|||
|---|---|---|---|
||**Number of employees**|||
||The average monthly numbers of employees|||
||excluding trustees, during the year were:|||
|||**2021**|**2021**|
|||**Number**|**Number**|
||Administration|2|2|
||Support|7|7|
|||_______|_______|
|||9|9|
|||||
|||_______|_______|
||**Employment costs**|**2022**|**2021**|
|||**£**|**£**|
||Wages and salaries|204,279|153,100|
||Employer National insurance|13,861|9,496|
||Employer pension costs|6,591|4,616|
||Redundancy|3,371|-|



No employee received emoluments of more than £60,000 (2021: None) 

The company operated a defined contribution pension scheme for its employees.  The amount recognised as an expense in the period was £6,591 (2021: £4,616).  Contributions outstanding at the year end amount to £Nil (2021: £766).  The total amount of employee benefits received by key management personnel in the year was £85,009 (2021: £92,164) 

**40** 



## **Carntogher Community Association** 

## **Notes to the financial statements for the year ended 31 December 2022** 

.................... continued 

|<br>**10.**|**Transfers between funds**|**Restricted**|**Unrestricted**|
|---|---|---|---|
|||**funds**|**funds**|
|||**£**|**£**|
||Transfer from restricted funds to unrestricted funds|(63,576)|63,576|
|||_______|_______|



The transfer between funds is the portion of depreciation relating to the restricted fixed assets. 

## **11. Taxation** 

The company is a registered charity, and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activities carried on in furtherance of  the charity's primary objectives, if these profits and surpluses are supplied solely for charitable  purposes. 

|||**Land and**|**Fixtures,**|||
|---|---|---|---|---|---|
|**12.**|**Tangible fixed assets**|**buildings**|**fittings and**|<br>**Office**||
|||**freehold**|**equipment**|**equipment**|**Total**|
|||**£**|**£**|**£**|**£**|
||**Cost**|||||
||At 1 January 2022|2,827,832|<br>295,744|<br>152,524|3,276,100|
||Additions|55,305|<br>13,053|<br>2,283|70,641|
|||_______|<br>_______|<br>_______|_______|
||At 31 December 2022|2,883,137|<br>308,797|<br>154,807|3,346,741|
|||_______|<br>_______|<br>_______|_______|
||**Depreciation**|||||
||At 1 January 2022|614,546|<br>181,307|<br>137,274|933,127|
||Charge for the year|46,379|<br>24,893|<br>3,150|74,422|
|||_______|<br>_______|<br>_______|_______|
||At 31 December 2022|660,925|<br>206,200|<br>140,424|1,007,549|
|||_______|<br>_______|<br>_______|_______|
||**Net book values**|||||
||At 31 December 2022|2,222,212|<br>102,597|<br>14,382|2,339,192|
|||_______|<br>_______|<br>_______|_______|
||At 31 December 2021|2,213,286|<br>114,437|<br>15,250|2,342,973|
|||_______|<br>_______|<br>_______|_______|



The Trustees of The National Heritage Memorial fund, The Department of Agriculture, Environment and Rural Affairs and Ulster Community Investment Trust Limited all have a charges over Lands owned by the company. 

**41** 



## **Carntogher Community Association** 

## **Notes to the financial statements for the year ended 31 December 2022** 

.................... continued 

|**13.      Investments**<br> <br> <br>Unlisted shares held<br> <br>As at 31stDecember 2021 and 2022<br>_<br> <br>**14.**<br>**Debtors**<br>Prepayments and accrued income<br>VAT refund due<br>**15.**<br>**Creditors: amounts falling due**<br>**within one year**<br>UCIT loan<br>Other taxes and social security costs<br>Other creditors<br>Other loans<br>Accruals and deferred income|**2022**<br>**£**<br>20,000<br>**_______**<br>20,000<br>_______<br>**2022**<br>**£**<br>56,464<br>18,201<br>_______<br>74,665<br>_______<br>**2022**<br>**£**<br>12,608<br>4,213<br>2,675<br>10,000<br>29,947<br>_______<br>59,443<br>|**2021**<br>**£**<br>20,000<br>|
|---|---|---|
|||_______<br>20,000<br>|
|||_______<br>**2021**<br>**£**<br>147,393<br>12,491<br>|
|||_______<br>159,884<br>|
|||_______<br>**2021**<br>**£**<br>19,651<br>3,274<br>2,675<br>10,000<br>20,756<br>|
|||_______<br>56,356<br>|



**42** 



## **Carntogher Community Association** 

## **Notes to the financial statements for the year ended 31 December 2022** 

.................... continued 

|**Funds**||||**Transfers,**||
|---|---|---|---|---|---|
||**Balance**|**Incoming**|**Resources**|**investment**|**Balance**|
|**1 January 2022**||**resources**|**expended**|**gains/(losses) 31**|**December 2022**|
||**£**|**£**|**£**|**£**|**£**|
|**Restricted funds**||||||
|Tangible Fixed Assets|2,041,758|42,683|-|(63,576)|2,020,865|
|Net Current Assets|238,521|260,168|(209,562)|<br>-|289,127|
||_______|______|_______|_______|________|
||2,280,279|302,851|(209,562)|<br>(63,576)|2,309,992|
||________|_______|_______|_______|________|
|**Unrestricted funds**||||||
|Tangible fixed assets|301,214|27,958|(74,421)|63,576|318,327|
|Investments|20,000|-|-|-|20,000|
|Net Current Assets|(25,986)|71,898|(214,460)|<br>-|(168,548)|
||_______|_______|_______|_______|_______|
||295,228|99,856|(288,881)|<br>63,576|169,779|
||_______|_______|_______|_______|_______|
|Total funds|2,575,507|402,707|(498,443)|<br>-|2,479,771|
||_______|_______|_______|_______|_______|



## **16. Funds** 

The transfer between funds is the portion of depreciation relating to the restricted fixed assets. 

|||||**Transfers,**||
|---|---|---|---|---|---|
||**Balance**|**Incoming**|**Resources**|**investment**|**Balance**|
|**1 January 2021**||**resources**|**expended**|**gains/(losses) 31**|**December 2021**|
||**£**|**£**|**£**|**£**|**£**|
|**Restricted funds**||||||
|Tangible Fixed Assets|2,070,970|32,246|-|(61,458)|2,041,758|
|Net Current Assets|129,860|291,031|(182,370)|<br>-|238,521|
||_______|______|_______|_______|________|
||2,200,830|323,277|(182,370)|<br>(61,458)|2,280,279|
||________|_______|_______|_______|________|
|**Unrestricted funds**||||||
|Tangible fixed assets|297,230|17,698|(75,174)|61,458|301,214|
|Investments|-|-|-|20,000|20,000|
|Net Current Assets|(53,283)|174,302|(127,003)|<br>(20,000)|(25,984)|
||_______|_______|_______|_______|_______|
||243,947|192,000|(202,177)|<br>61,458|295,228|
||_______|_______|_______|_______|_______|
|Total funds|2,444,777|515,277|(384,547)|<br>-|2,575,507|
||_______|_______|_______|_______|_______|



**43** 



## **Carntogher Community Association** 

## **Notes to the financial statements for the year ended 31 December 2022** 

.................... continued 

## **17. Analysis of the net assets between funds** 

|**Tangible                          Net current**<br>**fixed assets  Investments        assets**<br> <br>**£                  £**<br>**£**<br>Restricted funds                                       2,020,865                 -             289,127<br>Unrestricted funds                                      318,327<br>20,000           (168,548)<br>_______        _______<br>_______<br>Total                                                        2,339,192        20,000             120,579<br>___  __________  _______<br>_______<br> <br>**Tangible                          Net current**<br>**fixed assets  Investments        assets**<br> <br>**£                  £**<br>**£**<br>Restricted funds                                       2,041,758                 -             238,521<br>Unrestricted funds                                      301,212<br>20,000             (25,984)<br>_______        _______<br>_______<br>Total                                                        2,342,972        20,000             212,535<br> <br>|**2022**<br>**2021**<br>**£**<br>**£**<br>2,309,992<br>2,280,279<br>169,779<br>295,228<br>_______<br>_______<br>2,479,771<br>2,575,507<br>_______<br>_______<br>**2021**<br>**£**<br>2,280,279<br>295,228<br>_______<br>2,575,507<br>|
|---|---|



## **18         Reconciliation of net income (expenditure) to net cash flow from operating activities** 

|Net income/(expenditure) for year<br>Depreciation and impairment of tangible fixed<br>assets<br>(Increase)/decrease in debtors<br>(Increase)/decrease in stock<br>(Increase)/decrease in creditors<br>**Net Cash Flow from operating activities**|**2022**<br>**£**<br>(95,736)<br>74,422<br>85,219<br>(660)<br>3,087<br>66,331|**2021**<br>**£**<br>130,730<br>75,174<br>(45,475)<br>(150)<br>(9,498)<br>150,781|
|---|---|---|



**44** 



## **Carntogher Community Association** 

**Notes to the financial statements for the year ended 31 December 2022** 

.................... continued 

## **19. Trustees’ Emoluments** 

The trustees neither received nor waived any emoluments during the year (2021: Nil). 

No out-of-pocket expenses were reimbursed to trustees during the year (2021: Nil). 

## **20. Related Party Transactions** 

There were no related party transactions during the period (2021: Nil). 

## **21.      Capital Commitments** 

At 31[st] December there were no commitments for capital expenditure (2021: Nil). 

**45**