COMPANY REGISTRATION NUMBER: N1035971
CHARITY REGISTRATION NUMBER: NIC104578
Gelvin Area Community Association Limited
Company Limited by Guarantee
Unaudited Financial Statements
31 August 2024

Pag7e | I
Gelvin Area Community Association Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 August 2024
Page
Trustee's annual report (incorporating the trustee report)
Independent examinerfs report to the directors
Statement of financial activities (including income and
expenditure account)
Statement of financial position
Notes to the financial statements
8-16
The following pages do not form part of the financial statements
Detailed statement of financial activities
17
Notes to the detailed statement of financial activities
18

Pa&ye | 2
Gelvin Area Community Association Limited
Company Limited by Guarantee
Directors, Annual Report (Incorporating the Director's Report)
Year ended 31 August 2024
The director5, who are also the directors for the purposes of company law, present their report and the
unaudited financial statements of the charity for the year ended 31 August 2024.
Reference and administrative details
Registered charity name
Gelvin Area Community Association Limited
Company registration number N1035971
Charity registration number
NIC104578
Principal office and registered 191 Legavallon Road
office
Dungiven
Co Dery
BT47 4QW
The directors
Hugh Eugene Mccloskey
Sean Farrell
Henry Forsythe
Susan M¢Kenna
Patrick Emmett McNicholl
Independent examiner
Patrick Q'Hagan
122 Main Street
Dungiven
Co Derry
BT47 4LG
Structure, governance and management
Gelvin Area Community Association Limited is a Company limited by guarantee and accepted as
¢harit3ble by HMRC. The company was incorporated on 9 April 1999.The company was established
under a Memorandum of As50Giation which established the objects and powers of the company and is
governed by its Articles of Association. The board consists of the five directors.
Objectives and activities
Objectives 2nd activities
The company's charitable objectives are to make provision for the b¢n¢fit of th¢ inhabitants of the Gelvin
District and Su￿ound1ng ar¢a irrespective of age, gender, rnce, political opinion or religion by bringing the
community together in an effort to provide educational and social activities, to &%sist and cater for the
elderly, to preserve the environm¢nt and heritag¢ of the area and to PTovid¢ faciliti¢s for recreational and
leisure activities thereby improving th¢ quality of life.

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Gelvin Area Community Association Limited
Company Limited by Guarantee
Directors. Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 31 August 2024
Financial review
The financial results ofthe company for the year ended 31 August 2024 are in line with expectations.
The centres main source of income remains grant income.
During the year ended 31 August 2024 the company made a net surplus of £5,108, this is shown on
page 5 to the accounts.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to
the small companies, exemption.
The directors, annual report was approved on 18 December 2024 and signed on behalf of the board of
trustees by:
Hugh Eugene Mccloskey
Director

Page | 4
Gelvin Area Community Association Limited
Company Limited by Guarantee
Independent Examiner's Report to the Directors of Gelvin Area Community
Association Limited
Year ended 31 August 2024
I report to the directors on my examination of the financial statements of Gelvin Area Community
Association Limited {'the charity,) for the year ended 31 August 2024.
Responsibilities and basis of ￿port
As the directors of the company (and also its directors for the purposes of company law) you are
responsible for the preparation of the financial statements in accordance with the requirements of
Charities Act (Northern Ireland} 2008 (the '2008 Act'> and the Companies Act 2006 ('the 2006 Act,).
You are satisfied that the accounts of the company are not required by charity or company law to be
audited and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16
of the 2006 Act and are eligible for independent examination, I report in respect of my examination of
the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my
examination I have followed the general Directions given by the Charty Commission for Northern
Ireland under section 65(91(bl of the 2008 Act.
Independent examine￿$ statement
I have completed my examination. I confirm that no matters have come to my attention in connection
with my examination giving me cause to believe that in any material respect..
accounting records were not kept in respect of the charity as required by section 386 of the
2006 A¢t-, or
the financial statements do not accord with those records,. or
the financial statements do not comply with the accounting requirements of section 396 of
the 2006 Act other than any requirement that the accounts give a 'true and fairf view which
is not a matter considered as part of an independent examination. or
the financial statements have not been prepared in accordance with the methods and
principles of the Statement of Recommended Practice for accounting and reporting by
charities applicable to charities preparing their accounts in accordance with the Financial
Reporting Stsndard appliGable in the UK and Republic of Ireland (FRS 102).
I confirm that there are no other matters to which your attention should be drawn to enable a proper
understanding of the accounts to be reached.
PFS Accountants and Auditors Ltd
Independent Examiner
122 Main Street
Dungiven
Co Dery
BT47 4LG
18th December 2024

Page | 5
Gelvin Area Community Association Limited
Company Limited by Guarantee
statement of Financial Activities
(including income and expenditure account)
Year ended 31 August 2024
2024
Restricted
funds Total funds Total funds
2023
Unrestricted
nds
Note
Income and endowments
Grants
Donations and legacies
Other trading activities
Total income
7,500
1,564
2,169
911
8,411
1,564
2,169
14,603
2,626
1,819
11,233
911
12,144
19,048
Expenditure
Expenditure on charitable activities
Total expenditure
5,134
1,902
1,902
7,036
7,036
14,592
5,134
14,592
Net income and net movement in funds
6,099
(991)
5,108
4,456
Reconciliation of funds
Total funds brought forward
Total funds carried forward
58,356
31,488
89,844
85,388
64,455
30,497
94,952
89,844
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 8 to 16 ft)nn part of these financial statements.

Page | 6
Gelvin Area Community Association Limited
Company Limited by Guarantee
Statement of Financial Position
31 August 2024
2024
2023
Nots
Fixed assets
Tangible fixed assets
10
29,372
30,400
Current assets
Cash at bank and in hand
68,541
59,960
90,360
97,913
Creditors: amounts falling due within one year
Net current assets
11
2,961
65,580
516
59,444
Totsl assets less current liabilities
94,952
89,844
c￿dItorS. amounts falling due after more than one year
Net assets
94,952
89,844
Funds of the charity
Restricted fund5
Unrestricted funds
30.497
64,455
31,488
58,356
Total charity funds
12
94,952
89,844
For the year ending 31 August 2024 the charity 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
th 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.
The statement of financial position
continues on the following page.
The notes on pa9es 8 to 16 forni part of these financial statements.

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Gelvin Area Community Association Limited
Company Limited by Guarantee
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of trustees and authorised for issue on 18
December 2024, and are signed on behalf of the board by:
Hugh Eugene MGCloskey
Director
The notes on pages 8 to 16 fomi part of these financial staternents.

Gelvin Area Community Association Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 August 2024
General infonnation
The Charity is a publi¢ benefit entity, and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northem Ireland. The address of the registered office
is 191 Legavallon Road, Dungiven BT47 4QW.
ststement of compliance
These financial statements have been prepared in Complian￿ with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities
SORP {FRS 102}) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial ststements have been prepared on the historical cost basis, as modrfied by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charty's abilty to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the tnjstees to further any of the
harity's purposes.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal and fall into one of two sub-classes= restricted income funds or
endowTnent funds.

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Gelvin Area Community Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity., it is probable that the economic benefits associated with the transaction
11 flow to the charity and the amount can be reliably measured. The following specific policies
are applied to categories of income:
income from donations or grants is re¢ognised when there is evidence of entitlement to the
gift, receipt is probable, and its amount can be measured reliably.
legacy income is recognised when receipt is probable, and entitlement is established.
inGome from donated goods is measured at the fair value of the goods unles5 this is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are re¢ognised in the
accounts when received if the value Can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which ¢ase
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expendtture includes any
VAT which cannot be fully recovered, and is classified under headings of the statement of
financial activities to which it relates..
expenditure on raising funds includes the costs of all fundraising activities. events,
non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that fijrther its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charty nor part of its expenditure on Gharitsble activities.
All costs are allocated to expenditure categories reflecting the use of the resour￿. Dired costs
attributable to a single activity are allocated directly to that activity. Shared costs are apportioned
between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairment losses. 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 impairrnent losses.

i io
Gelvin Area Community Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (corttirtued)
Year ended 31 August 2024
Accounting policies (continued)
Tangible assets {continued)
An increase in the Garying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless It reverses a charge for impairment that has previously been
re¢ognised as expenditure wthin the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which it offsets any previous revaluation gain, in which case the Ioss is shown within
other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calculated so as to write off the c05t or valuation of an asset, le55 its residual
value, over the useful economic lrfe of that asset as follows..
Fixtures and fittings
Freehold propety
159￿ reducing balance
2 /0 Straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the Carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impaiment testing, when it is not possible to estiTnate 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 infiows that largely
independent of the cash in)lows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Government grants
Govemment grants are recognised at the fair value of the asset received or receivable. Grants
are not recognised until there is reasonable assurance that the charity will comply with the
conditions attaching to them and the grants will be received.
Where the grant does not impose specified future perfomiance-related Conditions on the
recipient, it is recognised in income when the grant proceeds are re￿iVed 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

Gelvin Area Community Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (Continued)
Year ended 31 August 2024
Accounting policie5 (continued)
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a paty to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging relationship.
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
impaiment loss is recognised under the appropriate heading in the slatement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteri5tiGs.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined Gontribution plans are recognised as an expense in the period in which
the related Servi￿ is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in fvture payments or a Gash refund.

| 12
Gelvin Area Community Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (¢ontinued)
Year ended 31 August 2024
Accounting policies (continued)
Defined contribution plans (continued)
When contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which it arises.
Limited by guarantee
The Company is limited by guarantee of its members and does not have share capital. The
liability of member5 is limtted to £1.
Donations and Legacies
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Grants
Evishngaran Wind Farm Ltd
Causeway Coast & Glens Council
7,500
7,500
911
911
7,500
911
8,411
other trading activities
Unrestricted Total Funds Unrestricted Total Funds
Funds
2024
Funds
2023
Book sales
Subscriptions
Donations
Coffee Moming
73
230
80
1,181
73
230
80
1,181
1,564
20
240
20
240
2,606
2,606
2,866
1,564
2,866

Gelvin Area Community Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
Expenditure on Gharitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Direct charitable expenditure
Other costs
874
1,028
874
6,162
5,134
5,134
1,902
7.036
Net income
Net income is stated after chargingl(crediting):
2024
2023
Depreciation of tangible fixed assets
1,028
1,028
Independent examination fees
2024
2023
Fees payable to the independent examiner for..
Independent examination of the financial statements
793
607

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Gelvin Area Community Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
10. Tangible fixed assets
Fixtures and
fittings
Freehold
Propety
Total
Cost
At 1 September 2023
Depreciation
At 1 September 2023 2023
Charge for the year
At 31 August 2024
Carrying amount
At 31 August 2024
At 31 August 2023
8,932
43,087
52,019
7,827
166
13,792
862
21,619
1,028
22,647
7,993
14,654
939
28,433
29,372
1,105
29,295
30,400
11. Creditors: amounts falling due within one year
2024
2023
Accruals and deferred income
2,961
2,961
516
516

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Gelvin Area Community Association Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 August 2024
12. Analysis of charitable fund5
Unrestricted funds
At
1 Sept 2023
At
Income Expenditure 31 August 2024
General fund5
58,356
11,233
(5,134)
64,455
At 1 Sept
2022
At 31August
2023
Income Expenditure
General funds
52,383
12,185
(6,212)
58,356
Restricted funds
At 1 Sept
2023
At
Income Expenditure 31 August 2024
Restricted Fund
31,488
911
{1,902)
30,497
At
1 Sept 2022
At
Income Expenditure 31 August 2023
Restricted Fund
33,005
6,863
(8,380)
31,488

PagFe | 16
Gelvin Area Community Association Limited
Company Limited by Guarantee
Notes to the Financial Statements f¢ontinued)
Year ended 31 August 2024
13. Analysis of net assets between funds
Unrestricted Restricted
Funds
Funds
Total Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
29,372
4,086
{2,961)
29,372
68,541
{2,961)
64,455
Net assets
64,455
30,497
94,952
Unrestricted Restricted
Funds
Funds
Total Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
30,400
1,605
(517)
30,400
59,960
(516)
58,356
Net assets
58,356
31,488
89,844