Company registration number: NI613850
DRUMBANAGHER PARISH LTD Company limited by guarantee
Unaudited filleted financial statements
31 August 2024
DRUMBANAGHER PARISH LTD Company limited by guarantee
| Contents | |
|---|---|
| Page | |
| Directors and other information | 1 |
| Statement of financial position | 2 - 3 |
| Notes to the financial statements | 4 - 6 |
DRUMBANAGHER PARISH LTD Company limited by guarantee
Directors and other information
| Directors | W J Agnew |
|---|---|
| A F Corry | |
| P McCabe | |
| R D Morton | |
| G Sterritt | |
| Company number | NI613850 |
| Registered office | 1 Church Hill |
| Jerrettspass | |
| Newry | |
| Co. Down | |
| BT35 6FT | |
| Accountants | Shriver Price & Co. |
| 49 Downshire Road | |
| Newry | |
| Co. Down | |
| BT34 1BA |
Page 1
DRUMBANAGHER PARISH LTD
Company limited by guarantee
Statement of financial position 31 August 2024
| Note Fixed assets Tangible assets 5 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 6 Net current liabilities Total assets less current liabilities Net assets Capital and reserves Profit and loss account Members funds |
2024 £ 1,278 60 60 ) (313 |
£ 1,278 ) (253 1,025 1,025 1,025 1,025 |
2023 £ 1,597 78 78 ) (313 |
£ 1,597 ) (235 1,362 1,362 1,362 1,362 |
|---|---|---|---|---|
For the year ending 31 August 2024 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 and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
The notes on pages 4 to 6 form part of these financial statements.
Page 2
DRUMBANAGHER PARISH LTD
Company limited by guarantee
Statement of financial position (continued) 31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 13 May 2025, and are signed on behalf of the board by:
W J Agnew Director
Company registration number: NI613850
The notes on pages 4 to 6 form part of these financial statements.
Page 3
DRUMBANAGHER PARISH LTD Company limited by guarantee
Notes to the financial statements Year ended 31 August 2024
1. General information
The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is 1 Church Hill, Jerrettspass, Newry, Co. Down, BT35 6FT.
The property is owned by Drumbanagher Parish Church. All expenditure incurred in the renovation together with related grants and donations are included in the income statement.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered.
Tangible assets
Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
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:
Fittings, fixtures and equipment - 20% reducing balance
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.
Page 4
DRUMBANAGHER PARISH LTD Company limited by guarantee
Notes to the financial statements (continued) Year ended 31 August 2024
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.
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.
4. Limited by guarantee
The company is registered as a company limited by guarantee not having a share capital. Each of the members undertakes to contribute on a winding up, for payments of debts and liabilities, such amount as may be required not exceeding £1.
5. Tangible assets
| Fixtures, fittings and equipment £ Cost At 1 September 2023 and 31 August 2024 11,890 Depreciation At 1 September 2023 10,293 Charge for the year 319 At 31 August 2024 10,612 Carrying amount At 31 August 2024 1,278 At 31 August 2023 1,597 |
Total £ 11,890 |
|---|---|
| 10,293 319 |
|
| 10,612 | |
| 1,278 | |
| 1,597 |
Page 5
DRUMBANAGHER PARISH LTD
Company limited by guarantee
Notes to the financial statements (continued) Year ended 31 August 2024
| 6. | Creditors: amounts falling due within one year | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Other creditors | 313 | 313 |
Page 6