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