Registration number: NI626481
## Erne Rivers Trust
(A company limited by guarantee)
Annual Report and Unaudited Financial Statements
for the Year Ended 30 September 2018
CJ Maguire & Co Ltd Chartered Accountants 42a Forthill Street Enniskillen Co Fermanagh BT74 6AJ
## **Erne Rivers Trust**
## **Contents**
|Company Information|1|
|---|---|
|Directors' Report|2|
|Accountants' Report|3|
|Profit and Loss Account|4|
|Statement of Comprehensive Income|5|
|Balance Sheet|6|
|Statement of Changes in Equity|7|
|Notes to the Financial Statements|8 to 9|
|Detailed Profit and Loss Account|10 to 11|
**Company Information**
## **Erne Rivers Trust**
**Directors** Mr Albert Keys Dr John Spence James McPhillips Paul Kearney **Company secretary** Dr John Spence **Registered office** Clinton Centre Belmore Street Enniskillen Co Fermanagh BT74 6AA **Bankers** Bank of Ireland Enniskillen Townhall Street Enniskillen Co Fermanagh BT74 7BD **Accountants** CJ Maguire & Co Ltd Chartered Accountants 42a Forthill Street Enniskillen Co Fermanagh BT74 6AJ
Page 1
## **Erne Rivers Trust**
## **Directors' Report for the Year Ended 30 September 2018**
The directors present their report and the financial statements for the year ended 30 September 2018.
## **Directors of the company**
The directors who held office during the year were as follows:
Mr Albert Keys
Dr John Spence - Company secretary and director
James McPhillips
Paul Kearney
## **Principal activity**
The principal activity of the company is charity
## **Small companies provision statement**
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved by the Board on 26 June 2019 and signed on its behalf by:
......................................... Mr Albert Keys Director
Page 2
## **Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Erne Rivers Trust for the Year Ended 30 September 2018**
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Erne Rivers Trust for the year ended 30 September 2018 as set out on pages 4 to 9 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in Ireland, we are subject to its ethical and other professional requirements which are detailed at https://www.charteredaccountants.ie
This report is made solely to the Board of Directors of Erne Rivers Trust, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Erne Rivers Trust and state those matters that we have agreed to state to the Board of Directors of Erne Rivers Trust, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Erne Rivers Trust and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Erne Rivers Trust has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Erne Rivers Trust. You consider that Erne Rivers Trust is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Erne Rivers Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
CJ Maguire & Co Ltd Chartered Accountants 42a Forthill Street Enniskillen Co Fermanagh BT74 6AJ 26 June 2019
Page 3
## **Erne Rivers Trust**
## **Profit and Loss Account for the Year Ended 30 September 2018**
|**Note**
Turnover
Administrative expenses
Operating deficit
Deficit before tax
Deficit for the financial year|**2018**
**£**
-
(226)
(226)
(226)
(226)|**2017**
**£**
-
(218)|
|---|---|---|
|||(218)|
|||(218)|
|||(218)|
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
The notes on pages 8 to 9 form an integral part of these financial statements. Page 4
## **Erne Rivers Trust**
## **Statement of Comprehensive Income for the Year Ended 30 September 2018**
|Deficit for the year
Total comprehensive income for the year|**2018**
**£**
(226)
(226)|**2017**
**£**
(218)|
|---|---|---|
|||(218)|
The notes on pages 8 to 9 form an integral part of these financial statements. Page 5
## **Erne Rivers Trust**
## **(Registration number: NI626481) Balance Sheet as at 30 September 2018**
|**Note**
**Current assets**
Cash at bank and in hand
**Creditors**: Amounts falling due within one year
3
**Net assets**
**Capital and reserves**
Profit and loss account
Total equity|**2018**
**£**
2,835
(200)
2,635
2,635
2,635|**2017**
**£**
3,061
(200)|
|---|---|---|
|||2,861|
|||2,861|
|||2,861|
For the financial year ending 30 September 2018 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 accounts for the year in question in accordance with section 476; and
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the Board on 26 June 2019 and signed on its behalf by:
.........................................
Mr Albert Keys Director
The notes on pages 8 to 9 form an integral part of these financial statements. Page 6
## **Erne Rivers Trust**
## **Statement of Changes in Equity for the Year Ended 30 September 2018**
|At 1 October 2017
Deficit for the year
Total comprehensive income
At 30 September 2018
At 1 October 2016
Deficit for the year
Total comprehensive income
At 30 September 2017|**Profit and**
**loss account**
**£**
2,861
(226)
(226)
2,635
**Profit and**
**loss account**
**£**
3,079
(218)
(218)
2,861|**Total**
**£**
2,861
(226)|
|---|---|---|
|||(226)|
|||2,635|
|||**Total**
**£**
3,079
(218)|
|||(218)|
|||2,861|
The notes on pages 8 to 9 form an integral part of these financial statements. Page 7
## **Erne Rivers Trust**
## **Notes to the Financial Statements for the Year Ended 30 September 2018**
## **1 General information**
The company is a company limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £1 towards the assets of the company in the event of liquidation.
The address of its registered office is: Clinton Centre Belmore Street Enniskillen Co Fermanagh BT74 6AA Northern Ireland
These financial statements were authorised for issue by the Board on 26 June 2019.
## **2 Accounting policies**
## **Summary of significant accounting policies and key accounting estimates**
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
## **Statement of compliance**
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
## **Basis of preparation**
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
## **Cash and cash equivalents**
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
## **Trade creditors**
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Page 8
## **Erne Rivers Trust**
## **Notes to the Financial Statements for the Year Ended 30 September 2018**
|**3**
**Creditors**|||||
|---|---|---|---|---|
|**Creditors: amounts falling due within one year**|||||
||**2018**||**2017**||
||**£**||**£**||
|**Due within one year**|||||
|Accruals and deferred income||200||200|
## **4 Share capital**
Page 9
## **Erne Rivers Trust**
## **Detailed Profit and Loss Account for the Year Ended 30 September 2018**
|Turnover
**Administrative expenses**
General administrative expenses
Finance charges
Operating deficit
Deficit before tax|**2018**
**£**
-
200
26
226
(226)
(226)|**2017**
**£**
-|
|---|---|---|
|||200
18|
|||218|
|||(218)|
|||(218)|
This page does not form part of the statutory financial statements. Page 10
## **Erne Rivers Trust**
## **Detailed Profit and Loss Account for the Year Ended 30 September 2018**
|**General administrative expenses**
Accountancy fees
**Finance charges**
Bank charges|**2018**
**£**
200
26|**2017**
**£**
200|
|---|---|---|
|||18|
This page does not form part of the statutory financial statements. Page 11