Company registration number: N1021360 Charity number: NIC106707 Friends of Ardavon Company limited by guarantee Unaudited financial statements 31 March 2025 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 7-10 Friends of Ardavon Company limited by guarantee Directors and other information Dlrectors Elizabeth Mccorkell Seanna Lynch Jacinta O, Kane Mary Bell Jacqueline Garnon Secretary Ellzabeth Mccorkell Company number N1021360 Charity number NIC106707 Reglstered offjce 21 Greenhaw Road Derry BT48 7RZ Accountants McGroaty Mccafferty & 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 2025 The directors present their report and the unaudited financial statements of the company for the year ended 31 March 2025. Dlrectors The directors who served the company during the year were as follows.. Elizabeth Mccorkell Seanna Lynch Jacinta O, Kane Mary Bell Jacqueline Garnon other matters Ardavon Trust changed their name to Friends of Ardavon on the 28th April 2017. Small company provisions This report has been prepared In accordance with the provisions applicable to companies entitled to the small companles exemption. Thls report was approved by the board of directors on 9 June 2025 and signed on behalf of the board by: Elizabeth Mccorkell Director 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 year ended 31 March 2025, which are set out on pages 4 to 10. Respectlve responslbllltle8 of charity directors and examiner. 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 examination, it is our responsibility to. examine the accounts under section 65 of the Charities Act 2008; follow the procedures laid down in the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act 2008. stat8 whether partlcular matters have come to our attention. Basis of independent examinerfs report We have examined your charity accounts as r8qulred under sectlon 65 of the Charities Act and our examination was carried out in accordance wlth the general dlrectlons glven by the Charity Commission for Northern Ireland under Sectlon 65{9}(b) of the Charities Act. The examination Included a review of the accountlng records kept by the charity and a comparison of the accounts presented with thos8 records. It also Included a consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity directors concerning any such matters. Qur role is to state whether any materlal matters have come to our attentlon glvlng us cause to belleve,. that accounting records were not kept in accordance with section 386 of the Companies Act 2006., that the accounts do not accord with those accounting records; that the accounts do not comply with the accounting requirements of the Section 396 of tho Companies Act 2006 and the methods and principles of the Charities Statement of Recommended Practice applicable to charlt18s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and RepubliG of Ireland; that there is further Informatlon needed for proper understanding. Independent examlnerfs statement We have completed our examlnatlon and have no concerns in respect of the matters listed above and, in connection with the following directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. McGroarty ccafferty & Company Ltd Accountants & Tax Consultants 2 Carllsle Terrace Derry BT48 6JX Date: 9 June 2025 Page 3 Friends of Ardavon Company limited by guarantee statement of comprehensive income Year ended 31 March 2025 2025 2024 Note Turnover Cost of sales Admlnlstrative expenses Operating loss 8,370 (6,584) {8,410) (6,584) (40) Other interest receivable and similar Income 2,947 3,632 (Loss>lproflt before taxatlon (3,637) 3,592 Tax on (loss>lprofit {Loss)Iproflt for the financlal year and total compreh9nslve Income (3,637) 3,592 All the activities of the company are from continuing operation¥. The notes on pages 7 to 10 form part of these financial statements. Page 4 Friends of Ardavon Company limited by guarantee Statement of financial position 31 March 2025 2025 2024 Note Flxed assets Tangible assets 1,838 2,162 1,838 2,162 Current assets Cash at bank and in hand 172,048 354,063 172,048 354,063 Creditors: amounts falllng due wlthin one year Nèt current assets (600) (179,302) 171,448 174,761 Total assets loss current Ilabilitiés 173,286 176,923 Net assets 173,286 176,923 Capltal and reserves Profit and loss account 173,286 176,923 Mombers funds 173,286 176,923 For the year ending 31 March 2025 the company was entitled to exemption from audit under sectlon 477 of the Companies Act 2006 relating to small companies. Directors responsibilities.. The members have not requlred the company to obtain an audit of its financial statements for the year in question in accordance with sectlon 476; The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accountlng records and the preparation of financlal statements. These financlal statements have been prepared 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,. The notes on pages 7 to 10 form part of these financial statements. Page 5 Friends of Ardavon Company limited by guarantee Statement of financial position (continued) 31 March 2025 These financial statements were approved by the board of directors and authorised for issue on 9 June 2025, and are signed on behalf of the board by: Mary Bell Director Jacqueline Garnon Director Company registration number.. N1021360 The notes on pages 7 to 10 form part of these financial statements. Page 6 Friends of Ardavon Company limited by guarantee Notes to the financial statements Year ended 31 March 2025 General Informatlon The company is a private company Ilmlted by guarantee, registered 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, Sectlon 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. Accountlng policies Basls of preparatlon The flnancial statements have bèèn prepared on the historical cost basls, as modlfied by the revaluation of certaln financial assets and Ilabilities and investment propertles measured at fair value through profit or loss. The financial statements are prepared in sterling, whlch is the functional currency of the entlty. Turnover Turnover is measured at the fair value of the consideratlon received or receivable for goods supplied and services rendered, net of disoounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods),. the amount of revenue can be measured reliably,. it is probable that the associated economlc benefits will flow to the entity,. and the costs Incurred or to be incurred in respect of the transactlons can be measured reliably. Taxatlon The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax Is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehenslve income or directly in capital and reserves. In thls case, tax is recognised in other comprehenslve income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover uslng the tax rates and laws that have been enacted or substantively enacted at the reporting date. Page 7 Friends of Ardavon Company limited by guarantee Notes to the financial statements (continued) Year ended 31 March 2025 Tangible assets Tangible assets ar8 initlally recorded at cost, and are subsequently stated at cost less any accumulated depreciation and Impairment losses. Any tsnglble assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreclatlon and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluatlon, Is recognised in other comprehensive income and accumulated in capital 8nd reserves, except to the extent it reverses a revaluation decreas8 of the same asset previously recognlsed in profit or loss. A decrease in the arrying amount of an asset as a result of revaluation Is recognised in other comprehensive income to the extent of any prevlously recognised revaluation increase accumulated in capital and reseNes in respect of that asset. Where a revaluation dècrease exceèds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or Ioss. Depreclatlon Depreclation 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: Flttlngs fixtures and equipment Motor vehicles reducing balance stralght line 20/0 If there is an indication that there has been a significant change In depreclatlon rate, useful life or resldual value of tangible assets, th8 depreciation is revised prospectively to reflect the n8w estlmates. Impairment A review for indicators of Impalrment is carried out at each reportlng date, with the recoverable amount being estlmated where such indicators exlst. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for posslble reversal at each reporting date. When it is not posslble to estimate the recoverable amount of an Indlvidual asset, an estimate is made of the recoverable amount of the cash-generating unit to whlch the asset belong5. 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. Page 8 Friends of Ardavon Company limited by guarantee Notes to the financial statements (continued) Year ended 31 March 2025 Financlal Instruments A financial asset or a financial liability is recognised only when the company becomes a paty to the contractual provlslons of the instrument, Baslc financial instruments are Inltlally recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments dlscounted at a market rate of Interest for a similar debt instrument. Debt instruments are subs8qU8ntly measured at amortised cost. Where Investments in non-conv8rtible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can oth81WIS8 be measured rellably, the Investment is subsequently measured at fair value with changes In falr 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 valua 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 recognlsed In profit or loss, wlth the exception of hedglng Instruments in a designated hedging relationship. Financial assets that are measured at cost or amortlsed cost are reviewed for objective evidence of Impairment at the end of each reporting date. If there is objective evidence of impairment, an impalrment Ioss is recognised In profit or lo55 immediately, For all equity instruments regardless of signlflcance, and other financial assets that are Indlvldually significant, these are assessed indivldually for impairment. Other financlal assets or either assessed individually or grouped on the basls of similar credit risk characteristics. Any reversals of impalrment are recognised In profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financlal asset that exceeds what the carrying amount would have been had the Impairment not previously been recognised. Limlted by guarantee This company is limited by guarantee, in the event of th8 company being wound up, each agrees to pay £1. Losslproflt before taxatlon Losslprofit before taxation is stated after chargingl(crediting): 2025 2024 Depreciation of tangible assets 324 382 Page 9 Friends of Ardavon Company limited by guarantee Notes to the financial statements (continued) Year ended 31 March 2025 Tanglble assets Flxtures, fittlngs and equipment Motor vehicles Total Cost At 1 Aprll 2024 and 31 March 2025 45,031 31,775 76,806 Depreclatlon At 1 April 2024 Charge for the year 42,869 324 31,775 74,644 324 At 31 March 2025 43,193 31,775 74,968 Carrylng amount At 31 March 2025 1,838 1,838 At 31 March 2024 2,162 2,162 Credltors: amounts falllng due within one year 2025 2024 other credltors 600 179,302 Related party transactlon8 There were no related party transactions in the year under review. Controlling party The control of the charitsble company lies with the directors. Page 10 Friends of Ardavon Company limited by guarantee The followlng pages do not form part of the statutory accounts. Friends of Ardavon Company limited by guarantee Detailed income statement Year ended 31 March 2025 2025 2024 Turnover Other income 8,370 8,370 Gross proflt 8,370 Gross profit percentage Overheads Administrative expenses {6,584) (6,584) (8,410) (8.410) Operatlng loss (6,584) (40) Operatlng 106s percentage Other interest receivable and slmllar income 2,947 3,632 (Loss)Iproflt bofore taxation (3,637) 3,592 Friends of Ardavon Company limited by guarantee Detailed income statement (continued) Year ended 31 March 2025 2025 2024 Overheads Admlnlstratlve expenses Volunteer expenses Holiday and recreatlon expenses Motor expenses Accountancy fees Bank charges General expenses Depreciation of tangible assets (287) (2,315) (4,708) (653) (65) (2,092) {3,122) (694) (84) {288) (324) (382) (6,584) (8,410)