Company Number: N1663825 Charity Number: NIC107639 Loafair Community Assoclation Ltd (A ¢ompany limlted by guarantee) Financlal statoments for the year ended 31 March 2025
Leafair Community Association Ltd (A company limited by guarantee) Contents Page Legal and Adiniiiislrative Information Directors Report Iiidependeiit Examiiier's Report Statemeiit of Fiiiancial Activities Balance Slieet Notes to the accouiits 9-15
Leafair Community Association Ltd (A company limited by guarantee) Information Directors Yvonne Graliam Liam Griffin Louis Mccleiiaghan Julie McDonald Gerry M¢Monagle Edward Breslin - Appointed 30 Septeinber 2024 Company Number: N1663825 Charity Number: NIC107639 Registered Office 60a Leafair Park Derry BT48 8JT Accountants McGroarty Mccafferty & Company Ltd Accountants & Tax Consultants 2 Carlisle Terrace Derry BT48 6JX Audltors McGroaty McCaff¢ty & Company Registered Auditors 2 Carlisle Terrace Derry BT48 6JX Bankers AIB (NI) Meadowbaiik Strand Road Derry BT48 7TN Solicitors MacDermott, McGurk & Partners Solicitors 12 Clarendon Street Derry BT48 7ET Page I
Leafair Community Association Ltd (A company limited by guarantee) Report to the Directors for the year ended 31 March 2025 Tlie directors present their report and the financial stateinents for the year ended 31 March 2025. The directors of Leafair Commuiiity Association Ltd for the purpos¢s of company law and who s¢rved during th¢ year and up to t'lie date of this report are as follows: Yvoiine Grahain Liain Griffin Louis Mcclenaglian Julie McDonald Gerry Mcmoiiagle Edward Breslin - appointed 30 September 2024 Our Alms aiid Objcctivcs Pur oses and Aims Leafair Coinmunity AssoGiatioii Ltd (LCA Ltd), previously known as Leafair Community Association is a voluiilary and cliaritable orgaiiis&tion based within the Ballyarnett DEA. It was set up with the core aim of eiiabling local people who have been excluded from life chances to live fuller lives and participate in their coininuiiity. LCA Ltd operates fTom their coininunity ownedlmanaged cominunity centre commonly referred to as 'Skeoge House,, wliich encoinpasses a reception are4 office space, a communal/training room, an arts and Gultural ljub and a ¢ommuiial kitclien. Core activiticslservices at Skeoge House include a Senior Citizens Luncheon Club, traiiiiiiglcducatioii programmes for adults, trainee cmployment opportunities, a men's health programme, the Personal Youtli Development Progratnine. youtli projects in partnership with tlie Education Authority and general coinmunity developinent activities wliicli involve environmental improvement projects, cominunity allotments, suminer festival, Clii'istin&s Wiiiter Wonderland and a range of social/recreational activities throughout the year. LCA Ltd also facilitates public meetings to address coininunity issues as they arise, actively liaise. work with or support a range of agencies on a weekly basis and these include Skeoge House Women's Group, Alcohol Aiioiiyinous aftercare project, On tlie Streets Youtli Initiative who utilise the premises to provide youth diversioiiary activitics for teeiiagers in tlie ai'ea and the Nortli Wcst Regional College who utilisc 'Skeoge House, as an outreacli cenlre for local and accessible further ¢ducation programmes. LCA Ltd also manag¢s sevcral social economy projects sucli as the Leafair 3G Pitclies, Leafair Green Gym, Skeoge Cominunity Transport and L¢afair Men's Worksliop. The Focus of our Work The Inain purpose of LCA Ltd is to have a more educated and qualified population, a reduction in poverty on people lives aiid to preveiit poverty on people living in the Outer Nortli Area resulting in improved health and well-being. Financial Revlew Princi al uiidiii Sources The key funders of LCA Ltd include Tlie National Lottery Community Fund, Department for Communities, Garfield Weston, The Josepli Rowntree Charitable Trust, Nothem Ireland Housing Executive, Education Autliority, Tudor Trust and DCSDC - Peace Plus. Future Fundin It is expected tliat Departinent for Coinmunities and DCSDC - Peace Plus fund will provide core funding for the foreseeable future. Page 2
Leafair Community Association Ltd (A company limited by guarantee) Continued..... Structure, GoverDance and Management Governin Docuinent Leafair Coininunity Association was established in 1994 as a community led organisation. The association was incorporated to a limited coinpany by guarantee on 20 August 2019. The Compaiiy was granted charitable status on 12 October 2020. Tlie charitable coinpany was established under Memorandum & Articles of Association whicli outlined tlie area of benefit and the objects of the charitable organisation. Reci'uitinent aiid A oiiilment of tlie Board f Directors The directors of tlie coinpaiiy are also charity trustees for the purposes of charity law and under the company's Articles are known as members of the Board. Under the requirements of the Memorandum and Articles of Association, one tliird of tlje members of tlie Board must stand for re-election at the Annual General Meeting. All members of Board give tlieir tiine voluntarily and receive no benefits from the charity. Meiii ers TnduGtioii ali Traiiiin The Board incInbers are already familiar with the work of LCA Ltd and Board inembers are encouraged to pai'ticipate in relevant activities. All Board Ineinbers havG beeii requir¢d to attend govern]e training. Obli alioiis of the Board Tlie maiii obligatioii of tlie Board are to develop and oversee the implementation of policy and to ensure that structures and Inaiiagein¢nt complies witli le&7al requirements and good governance practice. aiiisati nal Structure Tlie orgaiiisation structure consists of 6 directors and 14 employees, which include a general manager and adininistation staff. Risk Maiia eiiient Tlie directors have assessed Ilie major risks to which the company is exposed, in particular those related to the operatioiis and finaiices of the company> and are satisfied that systems are in place to mitigate the exposure to the Inajor risks. Page 3
Leafair Community Association Ltd (A company limited by guarantee) Directors Responsibilities In Relation To The Financial Statements Tlie directors are responsible for pi'eparing tlie Annual Report and the financial statements in accordance with applicable law and United Kiiigdoin Accounting Standards (United Kingdom Generally Accepted Accounting Pi'a¢tice). Coillpany law requircs the directors to prepare financial statcments for each financial year. Und¢r coinpany law the directors Inust not appiyjve the financial statements unless they are satisfied that they give a true and fair view of thc stat¢ of affairs of the charitable company and of the incoming resources and application of resources, iii¢luding tlie incoine and expenditure, of the charitable company for that period. In preparing these financial stateineiits, tlie directors are required to; select suilable accouiiting policies aiid apply them consistently. observe tlie melliods aiid priiiciples in the Charities SORP 2019 (FRS102). Inalce judgeinents aiid estiinates that are reasonable and prudent; state whcther applicable UK Accouiiting Standards have been followed, subject to any material departures disclosed aiid explaiii¢d iii tli¢ fiiiaiicial stateinents. prepare financial stateiiients on the going concern basis unless it is not appropriate to assume that tlie company will continue on tliat basis. Tlie directors are respoiisible for inaintaiiiing proper accounting records which disclose with reasonable accuracy at aiiy tiine the financial positioii of the charity and ciiables them to ensure that the financial statements comply with the Coinpanies Act 2006. The directors are also responsible for safeguarding the assets of the charity and h¢iiG¢ for taking r¢asoiiable steps for tlie prevention and detection of fraud and oth¢r irregularities. Tliis repoit Is pi'epared in accordan¢¢ witli tlie special provisions of part 15 of the Companies Act 2006 relating to small coinpanies and in accordance with SOIIP 2019 (FRS 102). Tlie fiiiaiicial stateiiieiits wei'e approved aiid authorised for issue by the Board of Directors on 16 May 2025 and sigiied 011 its belialf by. Director Director Pagc 4
Leafair Community Association Ltd (A company limited by guarantee) Indepcndent examiner's report on the unaudited financial statements to the of Leafair Community Association Ltd We report on Ilie ac¢ounts of the compaiiy for the year cnded 31 March 2025, which are set out on pages 6-15. Respcctive responsibilities of charlty directors and examiner. As tlie charity directors you are responsible for the preparation of the accounts iii accordance with the Itquirements of tlie Coinpanies Act 2006. Having satisfied ourselves that the charity is not subject to audit undcr compaiiy law, and is eligible for indepeiident examination, it is our responsibility to: exainine tlie accouiits uiider section 65 of the Cliarities Act 2008, follow the procedures laid down in the general directions given by the Charity Cominission for Northern Ireland uiider sectioii 65(9)(b) of tlie Charities Act 2008. slate whetlier particular Inatters Iiave come to our attention. BASIS of Independent examlner's i'oport We liave exaiiiined your charity accounts as required under sectioii 65 of the Charities Act and our exaininalion was carried out in accordance with the geiieral directions given by tlie Charity Commission for Nortliern Ireland uiider Sectioii 65(9)(b) of the Charities Act. The examination included a revicw of the accounting records k¢pt by the cliarity aiid a coinparison of the accounts presented with those records. It also iiicluded a considcration of any unusual items or disclosures in the accouiits, and seeking explanations from you as Gharity directors Goncerning any sucli matters. Our role is to state whether aiiy Inaterial Inatters have coine to our attention giving us caus¢ to believe: that accouiiting records were not kept in accordance with section 386 of the Companies Act 2006. tliat tli¢ accouiits do not accord with tliose accounting records. tliat the accounts do not coinply with the accounting requirements of the Section 396 of the Companies Act 2006 and tlie methods and principles of the Charities Stateinent of Recommended Practice applicable to charities preparing their accouiits in accordance with the Financial Reporting Standard applicable in the UK aiid Republic of Irelaiid; tliat there is fuitlier inforination needed for proper understanding. Independcnt examiner's stutement We cali coiifiriii we are qualified to undertake the examination aiid are regulated and a member of Chartered Accountants IIElaiid, wliicli is one of tlie listed bodies. We liave coinpleled our examination and have no concerns in respect of tlie matters listed above and. in connectioii witli tlie followiiig directions of the Charity Coinmission for Northern Ireland, we have found no Inatters tliat requii-c drawing to your altention. McGroarty, Mcca rty & Comp ny Ltd Accountants & Tax Consultants 2 Carlisle Terrace Dcrry BT48 6JX Date: 16 May 2025 Page 5
Leafair Comn]unity Association Ltd (A company limited by guarantee) Statement ofFinancial Activities for the ye&r ended 31 March 2025 Unrestricted Funds Restricted Funds Total 2025 Total 2024 Income and Ei xpenditure Iyotes Incoming Resources Incoine from resources and generating fuiids: Incoine resources from cliarilable activities 74,054 382,952 457,006 584.120 Tolal Inconiing Resources 74,054 382,952 457,006 584,120 Resources Expendcd Maiiageinent & adininistration Governaiice costs 43.809 1,710 402,826 1.000 446,635 2,710 587,798 4,820 I'otal Resources [4 xpended 45,519 403,826 449,345 592.618 Net Inconiing l (Outgoing) Rcsourees 28,535 (20,874) 7,661 (8,498) Balaiices bi'ouglit forward 75,222 77,176 152,398 160,896 Balances carried forward 31 Marcli 2025 12. 103,757 56,302 160,059 152,398 The above ainouiils relate to coiitiiiuing operatioiis of tlie coinpany. The coinpany lias no recognised gains and losses otlier tliaii those included in the results above and therefore no separate stateineiit of total recognised gains and losses lias been presented, There is no difference between the net iiicoiiiing r¢soui'ces for t11e year stated above aiid tlieir historical cost equivalents. Page 6
Leafair Community Association Ltd (A company limited by guarantee) Balance sheet as at 31 March 2025 2025 2024 Notes rl ixed asscts Tangible assets 159,212 181,842 Curront assets Debtors Casli at bank and iii Iiand 1,377 159,250 2,892 135,946 160.627 138,838 Current liablllties Bank loans aiid overdrstfts Accruals and otl)ei' creditors 1,171 56,214 734 62,378 10. 57.385 63,112 Nct current #sscls 103.242 75,726 Total assets less currcnt liabilitfies 262,454 257,568 Loiig-tei'in liabilities 11. (102,395) 160,059 (105,170) 152,398 Net assets Rc5erves Unrestricted Restricted 103,757 56,302 75,222 77,176 12. 160,059 152,398 Page 7
Leafair Community Association Ltd (A company limited by guarantee) Balance Sheet (continued) Iii appi'oving these financial statenients as directors of tlie company we hereby confirin; Tlicse accounts have been prepared in accordance with tlie special provisions of Part 15 of the Companies Act 2006 relating to sinall coinpanics and the Charities SORP 2019 (FRS 102). Tlie coinpany was eiititled to exemption from audit under s477 of the Companies Act 2006 relating to small coinpanics. Tlie meinbers have Iiot required the compaiiy to obtain an audit in accordance witli section 476 of tlie Coinpanies Act 2006. Tlie directors acknowledge their responsibilities for complyiiig with tlie requirements of the Companies Act 2006 witli Irspect to accouiiting records and preparation of accounts. Tliese accouiits have beeii prepared in accordaiice with the provisions applicable to small companies subject to tlie small coiiipaiiies regiine in accordanc¢ witli Cliarities SORP (FRS102). Tlie finaiicial stateinents were approved and authorised for issue by the board on 16 May 2025 and signed on its behalf by: DircLtor Dlrector Date . 16 May 2025 DAte . 16 MAY 2025 Registratlon number: N1663825 Page 8
Leafair Community Association Ltd (A company limited by guarante¢) Notes to the accounts for thc year ended 31 March 2025 General information The cliarity is a private liinited company by guarantee, registered in Northern Ireland and a registered cliarily in Nortliern Irelaiid, The address of the registered office is 60a Leafair Park, Derry, BT48 8JT. 1.1, Accounting convention The significaiit accounling policies applied in the preparation of tliese financial stateinents are set out below. These policies Iiave beeii consistently applied to all years presented uiiless otherwise stated. The cliarity constitutes a public beiiefit entity as defined by FRSI 02, The financial statements have beeii prepared in accordance witli the accounting policies set out in notes to tlie accounts and comply witli tli¢ cliarity's governing document, the Charities Act (Northern Ireland) 2008 and Accounting and Reportiiig by Cliarities: Stateiiient of Recomineiided Practice applicable to charities preparing tlieir accounts iii accordance with the Finaiicial Reporting Standard applicable in the UK and Republic of Irelaiid publisli¢d iii October 2019 (SORP 2019) and the Companies Act 2006. Tlie finaiicial statements are prepared on a going concerii basis under the historical cost convention, modified to iiicluded certain iteins at fair value. Tlie financial statements are presented in sterling whicli is tlie functional currency of the charity. 1.2. Incoming resources All incoming resources are included in the stateinent of financial activities when the Gharity is entitled to the incoine and Ihe amount can be quantified with r¢asonable accuracy. The following specific policies are api)lied to particular cat¢gori¢s of income: Voluntary incoine is received by way of grants, doiiations and gifts and is included in full in the stateineiit of financial activities when receivable. GrltS where entitlement is not conditional on the delivery of a specific performance by the charity, are recognised wlien the charity becomes uncoiidilioiially eiilitled to the grant. Donated services and facilities are iiicluded at the value to the charity wliere tliis can be quantifled. The value of Services provided by volunteers has Iiot been included. Gifts donated for resale are included as incoining resources within activities for generating funds when they are sold. 1.3. Resources oxpended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT wliicli cannot be fully recovered, aiid is reported a5 part of the expenditure to wliich it relates. Charitable expenditure comprises tliose costs incurred by the charity in tlie delivery of its activities and services for ils bcn¢ficiaries. It iiicludes both costs that can be allocated directly to such activities and tliose cosls of ali iiidirect nature Iiecessary to Support thcm. Page 9
Leafair Community Association Ltd (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2025 1.4. Fund accounting Unrestricted funds are available for use at the discretion of the directors in furtherance of the general objectives of the cliarity and which have not been designated for other purposes. Restricted funds al'e funds which are to be used in accordance with specific restrictions imposed by donors or whicli Iiave been raised by tlie charity for purposes. The cost of raising and administering sucli funds are charged against the specific fund. 1.5. Tangible fixed assets aiid depreciation Taiigible fixed assels are stated at cost less depreciation. Depreciatioii is provided at rates calculal'ed to write off the cost or valuation less residual value ofeach asset over its expected useful life, as follows: Land aiid buildings Equipineiit MolOI' veliicles 20/0 Straight Line I 00/0 Straight Line 25 % Straight Line 1.6. Ca511 at bank C&sli at bank and casli equivalents are stated at cost at the financial year end. 1.7. Capltal grants Capital graiils are received in respect of purchase of fixed assets a portion of which is released to the stateinent of fiiiaiicial activitics in tlie y¢ar of receipt. 1,8. Dcbtors & credltors Debtor5 and creditors with no staled interest rate and receivable or payable within one year are recorded at traiisaction price. Any losses arising from impairinent are recognised in expenditure. 1.9. Pension costs The pension costs cliarged iii the financial statements represent the contributions payable by the charity duriiig tlie year. 1.10. Going Concern Tlie finaiicial slateinents Iiave been prepared on a going concern basis as the directors believe that no Iiiaterial uiicertainties exist. The directors have considered the level of funds held and the expected level of incoine and expenditure for 12 Inontlis froin authoi'ising these financial statements. The budgeted incoiiie and expendilure are sufficient with the level of reserves for tlie charity to be able to continue &s a goiiig concern. Page 10
Leafair Community Association Ltd (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2025 Income 2025 2024 Restricted Income DCSDC: Peace Plus Departineiit for Communities SCRA - Youtli Programine Big Lottery - Awards for All WHSCT Garfield Westoll Tlie Josepli Rowntree Charitable Trust Nl Housing Executive Rukba C£Lrc Project Tudor Trust Derry City Strabane District Couiicil Educatioii Aulliority EA - Exteiided School Tlie Natioiial Lotteiy - Coininunity Fund Sl Stephens Green Trust Coininunily Fiouiidation Nl Halifax Clothworkers 1,377 130,238 13,360 6,203 240 27,383 67,921 26,816 127,304 9,035 9.711 14,545 59,063 37,794 34,67 I 29.341 4.000 14.868 5,980 105.858 21,350 35,087 15,000 10,678 2,791 26,330 5,918 9,860 3.750 2,865 49.000 382,952 525,385 Unrestri¢tcd Income Worksliop & bus hire iiicome Doiiations aiid project iiicoine 7,255 66.799 14,474 44,261 74,054 58,735 Total Incoino 457,006 584,120 (i) Resti'ictcd Funds Funds received wliich are earinarked by tlie Funder for specific purposes. Suoh purposes are within the overall aiins of tlie orgaiii8ation. (li) Ullrestricttd Funds Funds wliich are expeiidable at tlie discretion of tlie company in furtherance of the aims of the charity. In additioii funds IT]ay be held iii order to finance capital investment and working capital. Page 11
Leafair Community Association Ltd (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2025 R¢sourccs xpended Unrestricted Funds Restricted Funds Total 2025 Total 2024 Management & Adniinistration Wages & Salaries Peiisioii Costs Staff traiiiing Prograinme costs Repairs, Inainteiiaiice & cleaning Rent & water rates Iiisuraiice Liglit & lieat Printing> Postage & statioiiery Coinputer costs I'cleplione & iiiternet Consultancy fees Travel & traiisport Baiik & iiiterest cliarges General & subscription expenses Depreciation Amortisation of capital grant 6,234 221,863 9,565 5,171 103,992 5,197 14,708 2,555 7,594 1,739 430 3,161 360 3.896 306 1,241 23,823 (2,775) 402,826 228,097 9,565 5,171 126,121 7.756 15,l71 4,182 8.706 3,272 3,250 3,804 360 7,336 I,328 1,311 23,980 (2.775) 446,635 261,805 ,746 2,478 173,792 65,318 12.750 4.979 5.835 2,496 1,158 4,127 2,880 17,966 1,432 965 23.846 (2,775) 22,129 2,559 463 1,627 1,112 1,533 2,820 643 3,440 1.022 70 157 43.809 587,798 Govcrnance Costs Unrestrlctcd Funds Restrlcted Funds Total 2025 Total 2024 Accountaiicy fees Audit reinuii¢ration 1.710 1,000 2,710 500 4,320 1,710 1,000 2,710 4,820 Iyet (outgoing)l incoming resources for the year 2025 2024 Net (outgoing)/ iiicoming resources is stated after charging". Depreciation aiid other ainounts wrillen off tangible fixed assets Auditor's rcinuiieratioii Accountancy fees 23.980 23,846 4.320 500 2,710 Page 12
Leafair Community Association Ltd (A company limited by guarantee) Notes to the accounts for the year ended 31 March 2025 Staff costs The aggregate payroll costs incurred during the year were: 2025 2024 Wages aiid salaries Peiisioii costs 228,097 9,565 261,805 8.746 237,662 270,551 The Iiumber of einployees who earned more than £60,000 during tlie year was nil (2024 - nil). Tlie directors, iieither received nor waived any emoluinents during th¢ year (2024: none). Number of employees Tlic average Inonthly numbers of persons employed by the compaiiy during the year, amounted to: 2025 Number 2024 Number Adininistrative staff 14 Taxation As a charity, Leafair Coinniunity Association Ltd is exempt froin tax on income and gains falling williin se¢tioii 505 of tlie Taxes Act 1988 or s256 of tlie Taxation of Chargeable Gains Act 1992 to the extent tliat tliese al'e applied to its Ghargeable objects. Page 13
Leafair Community Association Ltd (A company limited by guarantee) Notes to the accounts for the year ¢nd¢d 31 March 2025 Tangible assets Land and bulldlngs fre¢hold Motor vehlcles Equlpment Total Cost At l April 2024 Additions 166,359 73.199 150,656 1,350 390,214 1,350 At 31 March 2025 166,359 73,199 152.006 391.564 Depreciation At l April 2024 Chargo for the ycar 34,416 3,327 67,201 5,998 106,755 14,655 208,372 23,980 At 31 Marcli 2025 37,743 73.199 121,410 232,352 Net book valucs At 31 March 2025 128.616 30,596 159,212 At 31 Marcli 2024 131,943 5,998 43.901 181.842 Dcbtors 2025 2024 Grants receivable 1,377 2,892 10. Credltors: ainounts fulling duo wlthin one year 2025 2024 Baiik loaiis aiid overdraft Deferred income Accruals 1,171 51,053 5.161 734 55,722 6,656 57,385 63,112 Page 14
Leafair Community Association Ltd (A company limited by guarantee) Notes to the accounts for the year cndcd 31 March 2025 11. Capital Grants 2025 2024 At l April 2024 Less: Capital Grants Amortised At 31 March 2025 105,170 (2,775) 102,395 107.945 (2,775) 105,170 12. Movoments In fi und5 At l Aprll Incoming Outgoing 2024 rcsource5 resources At 31 March 2025 Rcstricled funds: Total reslricted fuiids UnrestrictL'd funds: Total uiirestrictcd fuiids 77,176 382,952 (403,826) 56,302 75,222 74,054 (45.519) 103,757 Total funds 152.398 457.006 (449,345) 160,059 Purposes of Reslrficted Funds Restrict¢d grants awarded to tlie charity is provided to cover tli¢ core objects &s explained in directors report. 13. Related Party Transactions Tliere were no relal'ed party transactions in the period under review. 14. Limited by Guarthnt¢e The Goinpaiiy is liinited by guarantee and does not have a share capital. Every meinber of the coinpaiiy uiidertakes to Contribute such amount as may be required not exceediiig £1 to tlie assets of the charitable coinpany in the event of its being wound up while he or slie is & Inember, or within one year after lie or she ceases to be a member. 15. Controlling party Tlie ultiinate Control of tlie compaiiy rests with the board of directors. 16. Post Balance Sheet events No sigiiificant eveiits Iiave taken place since tlie year end that would result in adjustments to 2025 financial iiifoi'mation or inclusioii of a note thereto. Page 15