Company registration number: N1021360 Charity number: NIC106707 Friends of Ardavon Company Ilmlted by guarantee Unaudlted flnanclal 8tatement8 31 March 2024 Friends of Ardavon Company limited by guarantee Contents Page Directors and other information Directors report Independent examiners report Statement of comprehensive income statement of financial position Notes to the financial statements Friends of Ardavon Company limited by guarantee Directors and other information Directors Elizabeth Mccorkell Seanna Lynch Jacinta O, Kane Mary Bell Jacqueline Garnon Secretary Elizabeth Mccorkell Company number N1021360 Charity number NIC106707 Registered offlce 21 Greenhaw Road Derry BT48 7RZ Accountants McGroaty Mccaffety & Company Ltd 2 Carlisle Terrace Derry BT48 6JX Bankers AIB (NI) Meadowbank Strand Road Derry BT48 7TN Page 1 Friends of Ardavon Company limited by guarantee Directors report Year ended 31 March 2024 The directors present their report and the unaudited financlal statements of the company for the year ended 31 March 2024. Directors The directors who served the company during the year were as follows: Ellzabeth Mccorkell Seanna Lynch Jacinta O, Kane Mary Bell Jacqueline Garnon Small company provislons Thls report has been prepared in accordance with the provislons appllcable to compan18s entitled to the small companies exemption. This report was approved by the board of directors on 28 June 2024 and signed on b8half of the board by., lizabeth Mc Dlrector Page 2 Friends of Ardavon Company limited by guarantee Independent examiner's report on the unaudited financial statements to the directors of Friends of Ardavon We report on the accounts of the company for the ye8r ended 31 March 2024, which are set out on pages 4 to Respectlve responslbllltles of charity dlrectors and examlner. As the charity directors you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent examlnatlon, It Is our responsibility to,, examlne the accounts under section 65 of the Charltles Act 2008,, follow the procedures lald down in the general directions given by the Charlty Commlsslon for Northern Ireland under section 65(91(b) of the Charities Act 2008. state whether particular matters have come to our attention, Basis of Independent examlner's report We have examined your charlty accounts as required under section 85 of the Charities Act and our 6xamSnatlon was carried out in accordanca wlth the general directions given by the Charity Commission for Northern Irèland undèr Section 65{9)(b) of the Charities Act, The 8xamlnatlon ineluded a review of the accounting records kept by the charlty and a comparison of the accounts presented with those rècords. It also included a conslderation of any unusual items or dlsclosures In the accounts, and seeking explanations from you as charity directors concerning any such matters. Our role is to state whether any m8terlal matters have come to our attention giving us cause to belleve., that accountlng records were not kept in accordance wlth sectSon 386 of the Companles Act 2006. that the accounts do not accord wlth those accounting records., that the accounts do not comply with the accounting requlrements of the Section 396 of the Companies Act 2006 and the methods and prlnclples of the Charities Statement of Recommended Practlce applicable to charltles preparing their accounts in accordanGe wlth the Financial Reporting Standard applicable In the UK and Republlc of Ireland., that there Is further information needed for proper understanding. Independent examlner's statement We have completed our examination and have no concerns in respect of the matters listed above and, in connection with the following dlrectlons of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. McGroarty Mccafferty & Company Ltd Accountants & Tax Consultants 2 Carllsle Terrace Derry BT48 8JX Date: 28 June 2024 Page 3 Friends of Ardavon Company limited by guarantee Statement of comprehensive income Year ended 31 March 2024 2024 2023 Turnover Cost of sales Administrative expenses 8,370 {8,4101 (7,875) Operatlng loss (40) (7,875> Other interest receivable and slmilar Income 3,632 2,388 ProflU(10ss) for the flnanclal year and total comprehenslve Income 3,592 (5,487) All the activities of the company are from continuing operations. The notes on pages 7 to 9 form part of these financial statements. Page 4 Friends of Ardavon Company limited by guarantee statement of financial position 31 March 2024 2024 2023 Note Flxed assets Tangible assets 2,162 2,544 2,162 2,544 Current assets Cash at bank and in hand 354,063 171,407 354,063 171,407 Creditors: amounts falling due withln one year 7 (179,302) {620) Net current assets 174,761 170,787 Total assets less current Ilabilitles 176.923 173,331 Net assets 176,923 173,331 Capltal and reserves Profit and loss acGount 176,923 173,331 Membars funds 176,923 173,331 For the year endlng 31 March 2024 the company was entltled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. Directors responslbilities: The members have not required the company to obtaln an audlt of its financial statements for the year in questlon in accordance with section 476., The dlrectors acknowledge their responsibilitles 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 in accordance wlth the provisions applicable to Gompanies subject to the small companies, reglme and In accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. The notes on pages 7 to 9 form part of these financial statements. Page 5 Friends of Ardavon Company limited by guarantee statement of financial position (continued) 31 March 2024 These financial statements were approved by the board of directors and authorised for issue on 28 June 2024, and ar8 signed on behalf of the board by.. Mary Bell Director Jacqueline Garnon Dlrector Company registration number.. N1021360 The notes on pages 7 to 9 form part of these financial statements. Page 6 Friends of Ardavon Company limited by guarantee Notes to the financial statements Year ended 31 March 2024 Genoral Information The company is a private company limited by guarantee, reglstered in Northern Ireland, The address of the reglstered office Is 21 Greenhaw Road, Derry, BT48 7RZ. 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,. Accountlng policies Basls of proparatlon The financl81 statements have been preparèd on the hlstorical cost basis, as modified by the revaluation of certain finanGial assets and liablllties and investment properties mèasured at fair value through profit or loss. The financial statements are prepared In sterling, which is the functional currency of tha entity. Taxatlon As a charity, Friends of Ardavon is exempt from tax on income and galns falling wlthin Section 505 of the Taxes Act 1988 or s256 of the Taxation of Charitable Galns Act 1992 to the extent that these are applied to Its chargeable obje¢ts. Accordingly, no tax charges have arisen in the charitable company. Tangible assets Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tsngible assets carried at r8valued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciatlon and subsequent accumulated impairment losses. An increase In the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reseNes, except to the extent it reverses a revaluation decrease of the same asset prevlously recognlsed in proflt or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation Increase accumulated In capital and reseNes in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation galns accumulated In capital and reserves in respect of that asset, the excess shall be recognised In profit or loss. Depreclatlon Depreciation is calculated so as to write off the cost or valuatlon of an asset, less its residual value, over the useful economic life of that asset as follows.. Fittings fixtures and equipment Motor vehicles reducing balance straight line 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. Page 7 Friends of Ardavon Company limited by guarantee Notes to the financial statements {continued) Year ended 31 March 2024 Impairment A review for indicators of impairment Is carried out at each reporting date, wlth 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. When it Is not possible to estimate 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 inflows that are largely independent of the cash inflows from other assets or groups of assets. Flnancial Instruments A financlal asset or a financial liablllty is recognised only when the company becomes a party to the contractual provisions of the instrument. Baslc financial instruments are initially recognised at the transactlon price, unless the arrangement constitutes a financlng transaction, where it Is recognised at the present value of the futur8 payments discounted at a market rate of Interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where Investments In non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at falr value with changes in fair value recognised in profit or loss. 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 falr value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relatlonship. Financlal assets that are measured at cost or amortised cost are revlewed for objective evidence of impalrment 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 equlty 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 simllar 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. Limited by guarantee This company is limited by guarantee, in the event of the company being wound up, each agrees to pay £1. Page 8 Friends of Ardavon Company limited by guarantee Notes to the financial statements (continued) Year ended 31 March 2024 Profluloss before taxation Profitlloss befor8 taxation is stated after chargingl(crediting)'. 2024 2023 Depreclation of tanglble assets 382 449 Tanglble assets Fixtures, fittings and equipment Motor vehicles Total Cost At 1 Aprll 2023 and 31 March 2024 Depreclation At 1 April 2023 Charge for the year 48,031 31,775 76,806 42,487 382 31,775 74,262 382 At 31 March 2024 42,869 31,775 74,644 Carrylng amount At 31 March 2024 2,162 2,162 At 31 March 2023 2,544 2,544 Creditors: amounts falllng due withln one year 2024 2023 Other creditors 179,302 620 Related party transactions There were no related party transactions in the year under revlew. Controlllng party The control of the charitable company Iles with the directors. Page 9 Friends of Ardavon Company limited by guarantee The following pages do not form part of the statutory accounts. Friends of Ardavon Company limited by guarantee Detalled income statement Year ended 31 March 2024 2024 2023 Turnover Other income 8,370 8,370 Gross prolit 8,370 Gross profit percentage Overheads Administrative expenses (8,410) {7,875) {8,410) (7,875) Operating loss (40> (7,875) Operatlng loss percentage 0.5% Other interest receivable and slmilar income 3,632 2,388 ProfiU{loss) before taxation 3,592 (5,487) Friends of Ardavon Company limited by guarantee Detailed income statement (continued) Year ended 31 MarGh 2024 2024 2023 Overheads Administratlve expenses Volunteer expenses Holiday and recreation expenses Motor expenses Accountancy fees Bank charges Depreciation of tangible assets {287) (2,315) (4,708> (653) (65) (382) (780) {2,353) (3,551) (673) (69) (449) (8,410) (7,875)