Registered number: NI660774
MADLUG FOUNDATION LIMITED UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 APRIL 2023
Madlug Foundation Limited Unaudited Financial Statements For The Year Ended 30 April 2023
Contents
| Page | |
|---|---|
| Company Information | 1 |
| Accountants' Report | 2 |
| Income and Expenditure Account | 3 |
| Balance Sheet | 4 |
| The following pages do not form part of the statutory accounts: | |
| Detailed Income and Expenditure Account | 5 |
Madlug Foundation Limited Company Information For The Year Ended 30 April 2023
| Directors | Mr David Linton |
|---|---|
| Mr Leigh Brown | |
| Mr Murray Gardiner | |
| Ms Dearbhla Holohan | |
| Ms Sarah-Jane Mowbray | |
| Mr Gareth Rees | |
| Company Number | NI660774 |
| Registered Office | 10 Glenview Drive |
| Lurgan | |
| Craigavon | |
| BT66 6ES | |
| Accountants | Pacem Accounting & Tax Advisory |
| Chartered Tax Advisers | |
| First Floor, Stirling House | |
| 478 Castlereagh Road | |
| Belfast | |
| Antrim | |
| BT5 6BQ |
Page 1
Madlug Foundation Limited Accountants' Report For The Year Ended 30 April 2023
In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.
This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.
You have acknowledged on the balance sheet as at year ended 30 April 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.
We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.
Signed
21/06/2023
Pacem Accounting & Tax Advisory Chartered Tax Advisers First Floor, Stirling House 478 Castlereagh Road Belfast Antrim BT5 6BQ
Page 2
Madlug Foundation Limited Income and Expenditure Account For The Year Ended 30 April 2023
| TURNOVER Cost of raw materials and consumables Staff costs Other charges NET (DEFICIT)/SURPLUS |
2023 £ 99,947 (95,738) - (21,955) (17,746) |
2022 £ 90,710 (30,315) (42) (12,775) |
|---|---|---|
| 47,578 |
Page 3
Madlug Foundation Limited Balance Sheet As at 30 April 2023
| Current assets NET CURRENT ASSETS TOTAL ASSETS LESS CURRENT LIABILITIES NET ASSETS RESERVES |
2023 £ 224,816 |
2022 £ 242,562 |
|---|---|---|
| 224,816 | 242,562 | |
| 224,816 | 242,562 | |
| 224,816 | 242,562 | |
| 224,816 | 242,562 |
Notes
1. General Information
Madlug Foundation Limited is a private company, limited by guarantee, incorporated in Northern Ireland, registered number NI660774. The registered office is 10 Glenview Drive, Lurgan, Craigavon, BT66 6ES.
2. Average Number of Employees
Average number of employees, including directors, during the year was as follows: NIL (2022: NIL)
3. Company limited by guarantee
The company is limited by guarantee and has no share capital.
Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.
For the year ending 30 April 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the micro-entity provisions.
On behalf of the board
Mr David Linton
Director
21/06/2023
Page 4
Madlug Foundation Limited Detailed Income and Expenditure Account For The Year Ended 30 April 2023
| TURNOVER Donations- Madlug bag sales Third Party Donations Speaker fees Project income COST OF RAW MATERIALS AND CONSUMABLES Purchases Project direct costs STAFF COSTS Staff training |
2023 £ £ 94,450 3,083 1,950 464 99,947 87,465 8,273 (95,738) - - |
2023 £ £ 94,450 3,083 1,950 464 99,947 87,465 8,273 (95,738) - - |
2022 £ £ 85,336 5,374 - - 90,710 30,315 - (30,315) 42 (42) |
2022 £ £ 85,336 5,374 - - 90,710 30,315 - (30,315) 42 (42) |
|---|---|---|---|---|
| 87,465 8,273 |
30,315 - |
|||
| - | 42 | |||
| OTHER CHARGES Other direct costs: Import duties Other direct costs General administration costs: Postage Advertising and marketing costs Training seminars and workshops Accountancy fees Legal fees Charitable donations Sundry expenses NET (DEFICIT)/SURPLUS |
4,204 204 |
(21,955) | 2,134 411 |
(12,775) |
| 4,408 | 2,545 | |||
| 6,007 5,345 366 816 - 5,000 13 |
9,192 - - 714 296 - 28 |
|||
| 17,547 | 10,230 | |||
| (17,746) | 47,578 |
Page 5