Markethill District Enterprises Ltd
Statement of Financial Activities
Year Ended 315t August 2023
Total
2023
Total
2022
Income
Rent and Hire income
Grants
Other Income
30,278
8,675
436
33,373
6,720
39,389
40,105
Expenditure
Cost of Fundraising
Cost of Educational Activities
Cost of Charitable Activities
Governance Costs
6,022
30,555
5,608
21,189
Total payments
36,577
26,795
Net incomellexpenditurel
Transfers lollfrom) funds
Surplusl(deficit) for the year
2,812
13,310
Page 6

Markethlll District Enterprises Ltd
Statement of Financial Position
st
Year Ended 31 August 2023
2023
2022
Note
Fixed assets
Tangible assets
15,857
11,593
Current assets
Debtors
Cash al bank and in hand
2,942
94,789
170
99,879
Total current assets
97,731
100,049
Creditors: amounts falling due within one year
(2,438)
{3,0741
Net current assets
95,293
96,975
Total assets less Current liabilities
111,150
108,568
Creditors
Amounts falling due after more than one year
230
460
Net assets
110,920
108,108
Charlty Fund5
Income and expenditure account
110,920
108,108
Total charlty funds
110,920
108,108
The directors are satisfied that the company is enlilled to exemption from audit under section 477 of the
Companies Act 2006 and that member5 have not required an audit in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of Companies Act 2006
with respect to accounting records and preparation of financial stalemenls.
The financial statements have been prepared in accordance with the special provision in Part 15 of the
Companies Act 2006 to companies subject lo the small companies regime.
The financial statements were approved and authorised for issue by the Board on 151h April 2024.
Signed on behalf of the board of trustees.
Alison Strong
The notes on pages 8 to 11 form part of these financial statements.
Company registration number..
NIC107116
Page 7

Markethill District Enterprises Ltd
Notes to the Financial Statements
st
Year Ended 31 August 2023
Summary of significant accounting policies
(a} General information and basis of preparation
Markethill District Enterprises Ltd is a company limited by guarantee in Northern Ireland. In the event
of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of
the charity. The address of the registered office is given in the charity information of these financial
slalements.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have
been prepared in accordance with Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 issued on 16th
July 2014 las updated through Update Bulletin 1 published on 2nd February 20161, the Financial
Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 102), the Charities
Act 2008, the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applie5 from
151 January 2015.
The charity has applied Update Bulletin 1 as published on 2nd February 2016 and does not include a
cash flow slalemenl on the grounds that il is applying FRS 102 Section 1A.
The financial statements are prepared on a going concern basis under the historical cost convention,
modified to include certain items at fair value. The financial statements are presented in sterling which
is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied lo all years presented unless otherwise stated.
Ib) I ncome re¢ognition
Income is recognised when the charitable company has entitlement to the funds, any performance
conditions attached to the ilem{sl of income have been met, it is probable that the income will be
received, and the amount can be measured reliably.
{cl Expenditure recognition
All expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all costs related to the category. Expenditure is recognised where there is a legal or
constructive obligation to make payments to third parties, it is probable that the settlement will be
required and the amount of the obligation can be measured reliably.
{d) Support costs allocatlon
Support costs are those that assist the work of the charity but do not directly represent charitable
activities and include office costs and premises costs. They are incurred directly in support of
expenditure on the objects of the charity.
Fund-raising costs are those incurred in seeking voluntary contributions and do not include the costs of
disseminating information in support of the charitable activities.
The analysis of these costs is included in note 2.
Page 8

Markethill Distrlct Enterprises Ltd
Notes to the Financlal Statements
st
Year Ended 31 August 2023
(el Debtors and Creditors receivable I payable withi n one year
Debtors and creditors with no staled interest rale and receivable or payable within one year are
recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
If) Taxation
The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is
considered lo pass the tests sel out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it
meets the definition of a charitable company for UK corporation tax purposes.
Igl Golng concern
The financial statements have been prepared on a going concern basis as the trustees believe that no
material uncertainties exist. The trustees have considered the level of funds held and the expected
level of income and expenditure for 12 months from aulhorising these financial statements. The
budgeted income and expenditure is sufficient with the level of reseNes for the charity to be able to
continue as a going concern.
(h} Judgements and key sources of estimatlon uncertainty
The trustees do not feel there any material judgements or key sources of estimation uncertainly in
these accounts.
Analysis of cost of fundraising
Expenses
Support costs
Total
Cost of Fundraising
Analysis of expenditure on charitable activities
Activities
undertaken
directly
Support
cost5
Total
Gardening Club
Christmas
General expenses
4,603
1,195
4,603
1,195
224
224
5,798
224
6,022
Page 9

Markethill District Enterprises Ltd
Notes to the Financial Statements
Year Ended 315t August 2023
Trustees. and key management personnel remuneratlon and expenses
The trustees neither received nor waived any remuneration during the year {2022'. £Nil}.
The trustees did not have any expenses reimbursed during the year12022 - £Nill.
Fund reconciliation
Balance at
Balance al
31,
August
2023
Income
Expenditure
September
2022
Unreslricled
Restricted
108,108
30,714
8,675
27,902
8,675
110,920
108,108
39,389
36,577
110,920
Page 10

Markethill District Enterprises Ltd
Notes to the Financial Statements
st
Year Ended 31 August 2023
2023
2022
Income
Rent Receivable
Restaurant Hire
Creche Hire
Other income
17,278
6,500
6,500
436
20,373
6,500
6,500
12
Other income
Grants received
Government grants
30,714
33,385
8,675
6,720
8,675
6,720
Expenses
Donations
Wages
Rates and water
Insurance
Light and heat
Repairs to property
Printing, post and stationery
Computer costs
Sundry expenses
Accountancy
Depreciation of tangible fixed assets
Fixture and fittings
39,389
40,105
140}
15,485)
(330)
{3,202}
{6,517}
(11,167)
{3941
{3501
(6,022)
(970)
(100)
(6,070)
13081
(3,281)
(3,245)
(4,986)
{446)
(931)
15,606)
1890}
902
136,4451
{26,765)
944
Finance Costs
13,340
Bank charges
132
30
NET SURPLUS
2,812
13,310
Page11