Cullyhanna Community Group (a company Iimited by guarantee) Statement of financial activities {including income and expenditure account) for the year ended 30 November 2023 Unrestricted Funds Restricted Funds Total Funds Total Funds Nov 2023 Nov 2022 Notes ncoming resources Inioining T￿sOurceSfrO1n geiierotiizgfvFlIls Voluntary income Otlier iALoiiiiiig rt'4L?IifieS Total incoming resources 8,111 8,111 2,440 10551 12,782 900 13,682 2,440 2,440 8,111 Resources Expended Coqt ofg&iieraÈiiLgfv?Ids Charitfilyle CL)¥Is GoiierpiatLie CLl¢ts Total resources expended 150 855 2,218 3,223 150 6,443 6,791 13,384 527 7,491 7,427 15,445 5,587 4,573 10,161 Net incoming resources for the year/ Net income for the year {783) (2,049) {2,832) (1,763) Total funds brought foiward 37,582 89,614 127,196 128,958 Total fund carried forward 36,799 87,564 124,363 127,196 The statenient of financial activities includes all gains and losses recognised in the period All incoming resources and resources expended derive fvom continuing activities. The notes on pages 7 to 11 forni an integral part of these financial statements Cullyhanna Community Group (a company limited by guarantee) Statement of Financial Position at 30 November 2023 Note Nov 2023 Nov 2022 Fixed assets Tangible fixed asseLs 86,286 92,030 Cu￿ent assets Debtors Cash at bank and in hand 10 2,860 36,717 39,577 39,027 39,027 Creditors: amounts falling due within one year li 949 4,411 Net current aqseLs 38,078 35,166 Total assets less current liabilities 124363 127,196 Net assets 124,363 127,196 Funds Restricted income funds Unrestricled income funds 12 13 14 87,564 36,799 89,614 37,582 124,363 127,196 These financial statements have been pi'epared in accordance with special provisions relating to small companies within Part 15 of the Companies Act 2006. For the financial year ended 30 November 2023 the company was entitled to exemption from audit under Section 477 of the Cotnpanies Act 2006; and no notice had been deposited under Section 476. The trustees acknowledge their responsibility for ensuring that the charitable company keeps accounting records which comply with Section 386 and for preparing financial statements which gtve a true and fair view of the state of affairs of the charitable company as at the end of the financial period and of its surplus or deficit for the financial period in accordance with the requiremeiits of Section 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relaling to financial statemenLs so far as applicable to the charitable company. Approved on behalf of the board and authorised for issue on Anne Sheridan Director Patricia Treano Direclor The notes on page5 7 to 11 form an integral part of these financial statements Cullyhanna Community Group (a company limited by guarantee) Notes to the financiaI statements for the year ended 30 November 2023 Accounting policies The PTincApal accounting policies are summarised below. The accounting policies have been applied consistently throughout the period. 1.1 Basis of accounting The financial statejnents have been prepared in compllance with FRS 102, The Financial Reporting Standard in the UK and the Republic of Ireland, the Statement of Reiommended Practice applicable to chariteis preparing their accounts with the FRS appIicable in the UK and Ireland (FRS 102) - (Charities SORP (FRS 102)) and the Charities Act (N'orthern ITeland) 2008. 1.2 Incoming resources All incoming resources are included in the statement of financial activities when the charity is entitled to the incotne and the amount can be quantified with reasonable accuracy. The following specrfic policies are applied to particular cate%ories of income: Voluntary income is Teieived by way of grants, donations and gEfts and is included in full in the statement of financial activities when receivable. GTanLs where entitlement 15 not conditional on the delivery of a specrfic performance by the charity, are recognised when the charity beionies unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers has not been included. Grants, including grants for the purchase of fixed asseLs, are recognied in full in the statement of financial activities in the year in which they are receivable. Income from investments is included in the year in which is it receivable. -1.3 Resources expended Expenditure is recognised on an accruals basis when a liability is incurred which caDllOt be fully recovered, and is reporled as part of the expenditure to which it Telates. Charitable expenditure comprises those Ci)sts incurred by the charity in the delivery of its activities and service5 for its beneficiaries. It include5 both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support theni. Governance Ci)sts include those incurred in the goTremance of the chaTity and its assets and are primarily associated with coiistitutional and statutory requirements. Cullyhanna Community Group (a coi)Ipany limited by guarantee) Notes to the financial statements for the year ended 30 November 2023 1.4 Tangible fixed assets and depreciation Tangible fixed assets are stated at cost less accumulated depreciation. C05t includes all costs that are directly attributable to brynging tlie a55et into working condition for its inlended use. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful Iife, as follows.. Leasehold property Equipment Voluntary income 5% reducin% balance 25% reducin% balance Unrestricted Restricted Total Funds Total Funds Funds Funds Nov 2023 Nov 2022 Grants Receivable N'ewry, Mourne & Down District Council National Lottery Community Fund Rural Collimunity Network 5,264 2,847 5,264 2,847 8,292 3,350 1,140 Other incoming resources Unrestricted Restricted Total Funds Total Funds Funds Funds Nov 2023 Nov 2022 Room rental 2,440 2,440 900 900 Cost of generating voluntary income Unrestricted Restricted Total Funds Total Funds Funds Funds Nov 2023 Nov 2022 ChTiStmas Tree /Small Project8 150 150 527 150 150 527 Cullyhanna Commuinty Group (a company Iimited by guarantee) Notes to the financial statements for the year ended 30 November 2023 Charitable costs Unrestricted Restricted Total Funds Total Funds Fund8 Funds Nov 2023 Nov 2022 Administration costs Rent, rates & insurance Li%ht & heat Cleaning, hospitality & maintenance 1,736 1,415 1,710 124 1,300 2,087 2,200 1,424 2,087 2,931 731 855 Governance costs Unrestricted Restricted Total Funds Total Funds Funds Funds Nov 2023 Nov 2022 Pi'ofessional & accountancy fees Bank interest & char%es Depreciation 985 62 1,171 985 62 5,744 913 67 6,447 4,573 Net incoming resources for the year Nov 2023 Nov 2022 Net incomin% resource5 is Stated after char%in%: Depreciation Taxation The charAty'S activities fall within tlie exemptions afforded by the Provisions of the Income and Corporation Taxes Act 19q8. Accordingly, there is no taxation charge in these accounts. Cullyhanna Community Group (a company limited by guarantee) Notes to the financial statements for the year ended 30 November 2023 Tangible fixed assets Fixtures Leasehold Fittings & Property Equipment TOTAL Cost At l December 2022 Additions At 30 November 2023 151,753 13,401 165,154 151753 165 154 Depreciation At l December 2022 Char%e for Year At 30 N'ovember 2023 65,436 4,316 7,688 1,428 73,124 5.744 Net Book Value at 30 November 2023 Net Book Value at 30 November 2022 10. Debtors Nov 2023 Nov 2022 Grant debtors 11. Creditors: amounts falling due within one year Nov 2023 Nov 2022 Trade Creditors Accruab & Deferred income 651 3,760 949 949 12. Analys15 of net assets between funds Unrestricted Restricted Total Funds Total Funds Funds Funds Nov 2023 Nov 2022 Fund balances at 30 November as represented by: Tan%ible fixed assets Current assets Current liabilities 82,773 4,791 86,286 39,027 (949) 92,030 39,577 (4,411) 34,236 (949) 124 363 127 196 io CulIyhanna Community Group (a company limited by guarantee) Notes to the financial statements for the year ended 30 November 2023 13. Accruals and deferred income Nov 2023 Nov 2022 Deferred income At l Deceinber 2022 Increase in year 2N7 6,197 2,847 2,847 6,197 Released in period At 30 November 2023 Unrestricted funds 01-Dec 2022 Jncoming Outgoing Resources Resources 30-Nov 2023 General Funds Purposes of unrestricted funds Funds which are expendable at the discretion of the directOTS in furtherance of the objects of the charity. In addition, funds may be held in order to finance capital llivestment and working capitaI. 15. Restricted funds 01-Dec 2022 Incomin% Outgoing Resources Resources 30-Nov 2023 Grants r￿e1Ved Purposes of restricted funds Donations or grants recei￿ed which are dedicaled by the donor for specific purposes. Such purposes are within the overall attn of the organisation. 16. Contingent liabilities The charity has a contingent liability to the grant awarding bodies to repay grants if certain conditions are not met. 17. Company limited by guarantee Cullyhanna Community GTOUP is a company limited by 8uaTantee and does not have a share capital. In the event of wÉnding up, each member is liable to contribute an amount not exceeding £1.