Company registration number. N1662886 Charity regists8tion number. 107697 FORKHILL PRESCHOOL PLAYGROUP LIMITED (A ¢ompany limited by guarantee) Annual Rq)ort and Financial Ststements for the Year Ended 31 July 2024 FORKHILL PRESCHOOL PLAYGROUP LIMITED Contents Reference and Admini5trdtive Detai]5 Strategic Report Tru5tees' Report 3104 Independent Examin&s Report Statement of Financial Activities Balance Sheet Notes to the Financial Stalernents 8t016 FoRK&￿L PRESCHOOL PLAYGROUP LIMITED Reference and Admlnistrydtive Detalls Tn￿teeSIDlre¢tors Kevin Woods Fidelma McNcill Raymond Mccumiskey (resigned 15 November 2023) PrIncIp￿ Offi¢el Registered Offlce 93 Main Street Shean Forkhill Newry Co Down BT35 9SQ The ch3rity is in¢orpor8ted in Northern Ireland. ComDaDV Reolstr&doD Number N1662886 Chpdrlty Reglstrndon Number 107697 Danske Bw)k Newry 58 Hill Street Newry BT34 IBD Bankers Independent Examlner SCC Chartcred Accountgnls Ltd 17 College Street Arn￿gh Co Ami88h BT619BT PsEe I FORIQHILL PRESCHOOL PIAYGROIJP LIMTfED Strategic Report for the Year Ended 31 July 2024 The trnst￿. who are directors for the purposes of company law. present their strntegic report for the year ended 31 July 2024, in compliance wtth s414C of the Compani&8 Act 2006. Fln¥nelAI revlew Policy on reserves In line WTth recommended practice from the Charity CoTnmission for Northern Treland, th¢ playgroup has established a reserves policy to ensure the stability of tbe tnission, progrdllLme. employment and ongoing operations of th¢ orgdnisatiotL The target minimuEn reserve fund been identified as £60.000 which ensur&% that the core activity of Forkhill Preschool Playgroup Ltd could continue during period of unforeseen difficulty in relation to the salarie4 day to day Tunning and in the event of Yedundancies. A proportion of these reserves have to be maintsined in a readily Tealisable ftsrnL Fundraising will continue on a year-to-year b&sis. The strategic repprt was approved by the trustees of th¢ charity on 14 Apil 2025 and signed on its behalfby". Fidelma McNeill Tnutee Kevln Woods Trnstee Page ? FORKHILL PRESCHOOL PLAYGROUP LIMITED Trusteesl Report The trustees, who are directors for the purposes of cornpany law. present the Hnnual report together th the financial statements of the charitsble company for the year ended 31 July 2024. ObJeetives and aetivities As per the Articles of Association. the company's objectives and activitiu are specifically rc5tricted to th¢ following: lo promote play based learning cnvironments for all ¢hildren under statutory sch(M)l age Ihereinnfter referred to as the beneficiaries) of Forkhill and its surrounding greater ward ar¢a (hereinafter called the gender, of benefit.) without distinction of age. religious marRtal status, disability. 8¢xual orientation, naiiollality. etbni¢ identity. politi¢al or opinion, associating Ihe statulory authorities, community organisations and the inhabitants in a common etTort to advance education, and in particular- (a) lo advance the ¢ducatioD of the beneficiaries by the provision of safe and satisfying group play, with the right olparents1¢3rers to take responsibility for and lo become involved in the activities of the group and to promote the preservation of health of the beneficiaries. (b) to SUPFKYrt the vision and values of the Early Years sector. (c) to advance any other exclusively tharitable Purp￿ a5 the directors may. from time to time. decide in a￿ordance with the law of charity. The playgroup is open Monday lo Friday - 9.00 10 12.00 and employs 6 qu&lified staff, il provides a facility wh¢re Ihc children can learn in a safe and stimulating cnvironment at their own pace. Thc pIAygroup works to providc the pre-school curriculum and ffts proud to have been re¢ogmiscd by Inve510rs in People in the past and currently have been awarded & Gold Cale¥ory Award from CurriLulum und Planning Spccialisl (C.A.P.S). In Setting our objeclivcs and planning our activities for Ihe year ihe trust¢C5 have given careful con5iderdlion to the Charity Commission for Northern Ireland's guidance on public benefit to ensure ihat the activilics havc helped to achleve th¢ chatitys purposes and provid¢ 4 benefit to the benefici&ri¢5. by and voluntary Objecrfves, 5trategle$ and qclivlrtes 2023124 was a difficult ycar for the school financially with grant and other income reduced. resulting in nel deficit for the year of £7,011 (2023 surpSus £9,254). However, with sutTicient r¢serves in plac¢ and continued drive towards maximising income and minimising expendiwrc the School remain5 in a 501id financial PDSition. Going concern Mana¥emenl h8v¢ considered o period of at lea51 12 months from the date ofapproval of these financial statements as part of their assessment of the appropri8tencss of the going concern &ssumption. and have concluded thul the going concern basis is appropriaie. Pa8¢ 3 FORKHILL PRESCHOOL PLAYGROUP LIMITED Trustees, Report structur￿ governance management Organisalional slrnclure Forkhill Preschool Playgroup is a company limiied by guarantre and accepted as charitable by HMRC. The. company is also a registered charity with The Cbarity Commission for Northern Ireland under charity number 107697. The company was incorpornted on 10th July 2019. Th¢ company was established under a Memornndum of Association whicb established the objects nd powers of the company. and is governed by its Articles of Association. The liability of the members is limtted in that every member of the company undertakes to contribute and amount not exceeding £1 in the event of the company being would up. Recruitm¢nt and AppN)intment of Directors, The Charity trustees are also directors of the company. During the financtal year Raymond Mccumiskey was r¢5igned as a director due to death. Organisation Structure The Board consists of two Trustee5 who administer the playgroup and meet monthly. The Board has appointed a Playgroup Leader to manage ihe day-104lay operdtions of the Playgroup. The Playgroup leader has delegated authority. within tem)s of delegated apprnval: for opcrational matters including staff supervision, delivery of Playgroup activities and budgetsry management. Th¢ Playgroup is affiliated to the C.A.P.S organisation and works very closely with their Tndependent Early Years Specialist to ensure that slaff aTe up-todate with policy and practice within the S￿r. Staff also undertake regular training. The annuat report was approved by the trustees of the charity on 14 April 2025 aud signed on its bebaifby: Fidelma McNeill Trnstee Kevin Wood5 Trustee Page 4 FORKHILL PRESCHOOL PLAYGROUP LIMrrED Independent ExAminer'$ Report to the trustees of FORKHILL PRESCHOOL PLAYGROUP LIMITED I r¢p)rt to the charity trustees on my examination of the accounts of the charity for the year ended 31 July 2024 wbiGh are s¢t out on pag¢s 6 to 16. Respectlve respoDslbUltles of trustees and eiAminer As the charity's t￿￿tee8 of FORKHILL PRESCHOOL PLAYGROUP LIMITED (and also its directOTS for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Compantes Act 2(1)6 ('thc 2006 Ac¢'). Having satisfied myself that the accounts of FORKHTLL PRESCHOOL PLAYGROUP LTMITED are not required to bc audited under Part 16 of the 2006 Act and are eli8ible for independent examination, it is my responsibility to.. examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008: 10 follow the procedures laid down in the general Directions Biven by the Charity Commission for Northern Ircland under section 65(9)(b) of the Chariiies Act: and 10 stste whether particular matters have come to my attention. I have examined your charity's accounts as required under section 65 of the Charities Aci and my examination was carried out in accordance with the generdl Directions given by the Charity Commission for Northern Ireland undcr section 65(9)(b) of the Charities Act. The examination includcd & review of Ihc accounttng records kept by the charity and a comparison of the accounts presen1￿ with those ￿Ords. li also includes eonsidernlion of any unusu81 items or disc105ure5 in the accounls, and seeking exp5analions from you as charity trustee5 concerning any such mattcrs. Independent examlner's stAtement I have completed my cxamination. I confirni that no matters havc come to my attention in connection with the examination givin¥ me caus¢ to belicve.. l. accounting records were noi kept in respect of FORKHILL PRESCHOOL PLAYGROUP LIMITED as r¢quir¢d by section 386 of the 2006 Act: or 2. the #¢cOL￿ts do not &cLord with thos¢ rtcord5" or 3. the accounts do not Comply wilh the accounting requirements of seciion 396 of the 2006 Act other ihan any requirement that the accounts give a 'trn¢ snd f&ir view, which is not a matter considered as part of an indepcndcnt examination. or 4. the accountg have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for 3ccountin8 and reporting by charities [applicable to charities preparing their accounts in accordance WTth the Financial Reporting Standard applicAble in the UK and Republic of Ireland (FRS 102)]. I have no con¢¢rns and have come across no other matters in connection with Ihe examination to which 3ttention should b¢ drawn in this re￿)rt in order to enable a proper understsnding of the accoynLS to be reached. Noel Convery SCC Chartered Accountants Ltd 17 College Street Amagh Co Arn)agh BT619BT Date: 14 Aptil 2025 Page 5 FORKFttLL PRESCHOOL PLAYGROUP LIMrrED Stydtement of Financial Activities for the Year Ended 31 July 2024 (Including Income and Expenditure Account 2nd Statement of Total Reeognised Cains And Losses) Unrestrlcted Funds Restrteted Funds Totsl 2024 Notr Income and Endowments from: Donations and legacies 75,505 15,050 90.555 Total income Expenditure on: Charitable activities 15.050 21.438 (21.438) Toial expenditu Net (expeodilureyincome (76.128) (97.566) 54,067 (61,078) (7,011) Net movement in funds 54,067 (61,078) (7.011) ReconeKliation of ￿ndS Total funds brought forward Total funds carried forward 156629 210.413 12 UDrestricted Funds Restrieted Funds Total 2023 Nots Income and Endoivments rrom: Donations and legacies Total income 82.155 19.078 101,233 Expenditure OD." Charitable A¢tivities 82.155 19.078 101,233 Total expenditure Net expenditure Net movement in fjJnd5 65,557 (56,303) 9,254 ReconeiliadoD of funds 65.557 (56.303) 9,254 TotaI fjJnd5 brought forward Total fvnds Ca￿led forward 91.072 266716 357.788 12 All of the charitys activities deTive bom continuing operdtions dwing the above two periods. The fimiLs breakdown for 2024 is shown in note 12. The notes on pages 8 to 16 forn] an intwal part ofthese financial statements. Page 6 FORKHILL PIIESCHOOL PL￿yGROuP LIMITED (Registration nuniber: N1662886) Balance Sheet as at 31 July 2024 2024 2023 Trlofe ￿￿ed assets Tongible assets 379.842 379,842 Current assets Cash at b8nk 8ad ill hand Ao 29,086 40J71 408.928 (48,897) 420213 (53,172) Creditors: Amounts fAlllDg due after more than one year iyet assets 360.031 Funds of the Charl￿.: Restrlcted IDeome funds Restricted funds 149,335 210.413 Unrestrlcted Income funds Unrestricted funds Total lunds 210696 156629 12 For th¢ fill￿￿la& year ending 31 July 2024, the cb8riry was ¢ntitl¢d to exemption from iudit under section 477 of the Companies A¢t 2006 relaling to small Companies. Directors, respofjsibilities.. Thc membe[5 havc not required the ¢h&rity to obtain an audii of ils accounts for the year in quc5ti0n in accordance with section 476: 8nd . The direelors acknowledge their responsibilities for conwlying with the requirements of the Act with respeci lo accounting iecords and the p￿parati0ll of accounts. These accounts have been prepared in accordance with the provisions applicable to companie5 subject to tbe small companie5. regÉme. The financial ststem¢nts on pag¢s 6 to 16 were approved by the trustee5, and authoris¢d for issue on 14 April 2025 and signed on their behalf by.. FldelmA McNelll Trustee Kevln Woods Trustee The notes on pages 8 to 16 forni an iniepl part of these financial statements. Page 7 FORKHILL PRESCHOOL PLAYGROIJP Lllkt Notes to the Financial StsteD]ents for the Year Ended 31 July 2024 l. Cknrlty status The charity is a charity PTivate compaDy limited by guardntee and ¢onsequent]y does not hxve shaT¢ ￿p1￿￿. Each of tbe trustees xs liable to contribute an alnount not exceeding £1 tOW8rds the assets of the charity in the event olliquidatiOJL The charity is registered in Northern Ireland. The address of its registered office is: 93 Main Street Shean Eothill Newry Co Down B135 9SQ These financial statements were authorised for issue by the trustees on 14 April 2025. l Ateollnting polieies Sujnmary of slgnRfit2Dt gctounting polieles afjd key gteountlng estimates The prillcipal accounting policies applied in the prepatation of th￿C financial ststements ate set out below. These policies have been ¢ODSi51ently applied to all the years preseDted unless otherwlse stste Statsment of eompll8nce These financial st&tcments have been prepared in accordanc¢ FRS102. The Fi1￿claI Repoiting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to char¢ties preparing their accounts in accordanee with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (ch￿￿tieS SORP (FRS102)). th¢ Ckwitias Act (Nortbcrn It¢land) 2008 and Companies Act 2006. Basis of preparation FORKHILL PRESCHOOL PLAYGROUP LlMrrED meets the definition of a public benefft entity under FRS 102. Assets and liabilities are initially Te¢o8nised at bi5torical cost or transa¢tioD value otherwise stated in the relevant a￿u￿tIng policy notes. Goins concern The trustees consider that there are no mateTial uncertainties about the cbarity'5 ability lo continue as a going concern oor any significant areas of uncertainty that affect the carrying value of &ss¢ts beld by the chaTity. Illeome and endowments All income is recogni5ed once the,charity ha5 entitlement to tbe income. it Is pmbable that the incorne will be received and the amount of the income receivable can b¢ me8sured reliably. Page 8 FORI(HILL PRESCHOOL PLAYGROUP LIMITED Note$ to the Fillancial StstemeDts for the Year Ended 31 July 2024 DonAtEon5 and leggcles Dollalions are recognised when the clwity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perfonnance by the ¢harit!' before the ¢harity is entitled to the funds, the income 15 deferred and not recognised until either those conditions ar¢ fully me( or the fvlfilmenl of those conditions is wholly within the control of th¢ charity and it is probabl¢ that these conditions will be fulfilled in the reporting period. Legacy gifts gTe recognised on a case by case basis followin8 the grant of probate when the administratorlexccutor for the estate ha5 communicated in writing both the amount and settlement date. In the event that the gift is irk the fomi of an asset other than cash or a financial 835et trnded on a recognised stock exchange. recognition is subject to the value of the gift being reliably measurable with a degree of reasonable accurdcy and the title to the asset hAving been transferred to the ¢h8rity. Grants recelvable Grants are recognised when the charity has an enlitlement to the fjjnds and any conditions linked to the grants have been met. whe￿ perforniance conditions are attached lo the grant and are yel to be met, the income is recognised as a liabiliiy and included on thc balance sheet as deferred income to be released. Investment Income Dividends are recognised once the dividend has been declared and notification ha8 been received of the dividend due. Expendlture All cxpenditure is recognised once there is a legal or ¢onstNctive obligation to that expendiiure, it is probable settlement is required and the arnounl Can be me8sured reliably. All costs a￿ allocated to the applicable expenditur¢ heading that agBre8g4te similar costs to that category. Where cosls cannot be directly attributed 10 particul&r headings they havc been allocated on a basis consistent with the use of resources. with centrdl staff costs allo¢&tcd on the basis of time Spent. and deprecialion charges allocated on the portion of the asset's U5¢. Other support costs are a110¢8led based on the 5preAd of staff ¢osls. Charltable actlvltles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It inc1l￿¢S both costs that can be allocaied di￿llY 10 5u¢h activities and those costs of an indireot natyrc nece55ary to support them. GoverD2nce costs These include th¢ costs attributsble to the charity's compliance with constitutional and statutory requirements, including audit, strategic management and trustees. meetings and reimbursed expense5. Government grants Goyernmcnt grants arc recognised based on the accrual model and are measured at th¢ fair value of the ass￿ received or ￿CeIvable. Grants are classified as relating either to nvenue or to assets. Grnnts relating to r¢venu¢ atr [￿ognised in incom¢ over the period in which th¢ relat¢d costs are re¢ognised. Grants relating to assets are recognised over.the expected useful life of the a5S¢t. Where part ora grant relating to an asset 15 deferred. it is recogni5ed as dcferred income. Pag¢ 9 FORKHILL PRESCHOOL PLAYGROUP LIMITED Notes to the Financial Statements for the Year Ended 31 July 2024 Tai4tlon The charity 15 considered to pas5 the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and thereforc it meets th¢ definition of a charitable cornpany for UK corporation t&K purposes. Accordingly, the charity is potentially exempl from taxation in respect of income or Capital ￿InS received within calegories covered by Chapter 3 Part I l of the Co4)ordtion Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively lo charitable purposes. Tangible fixed assets Individu￿ fixed assets costing £100.00 or more aTe initially recorded &t cosl les5 any subsequenl accumulated depreciation and subsequent accumulated impairment lows. Deprectation amortisatlon Depreci&tion is provided on tangible fixed assets so as to write off the cost or Valuatio￿ less any estimated residual value. over their expected useful e¢onomic life as follows: Asset class Plant and machinery Depreciation method and rate 250/0 reducing balance basis Trade debtors Trade debtors ar¢ amounts due from customers for merchandise sold or services perfornied in the ordinary course of business. Trade debtors are Te¢ognised initially at the transaction price. They are subsequently measured at amortised cost using the cffective interest method, less provision for impainnent. A provision for the trnpairn]ent of trade debtor5 is established when there is objective eviden¢¢ that th¢ clwity will not be able to collect all amounts due according to the original t¢rn)5 of the receivables. Casb And cash equivglents Cash and cash ¢quivalents comprise cash on hand and Call deposits, and other short-tenn highly liquid invcstm¢nts that a￿ readily convertible to a known amount of cash aDd are subject to an insignificant risk of change in value. Borrowlngs Jnterest-bearing boErowings are tnttially recorded at fair v￿U¢, net of tran￿etIon costs. luterest-bearing borrowings are subsequently carried at amortised cosl with the difference between the pn)ce¢ds, nel of transaction Costs. and the amount due on redemption being recognised as a charge to the Statement of Financial Activities over the period of the relevant borTowing. Interest expense is reCO￿lIsed on the b&8is of the effective interest method and is inclLtded in interest payable and similar charges. Borrowings are classifjed as current liabiliti￿ unless the charity bas an unconditional right to defer settlement of the liabiliry for at least twelve months after the reporting da*. Page lo FORKHllL PRESCH(K)L PLAYGROIIP LIMrrED Notes to the Flnancial Statements for the Year Ended 31 July 2024 Forelgn eJchaDge Trdnsactions in foreign currenci¢s are recorded at the rate of exchange al the date of the transaction. Monetary assets and liabilities denominated in forei￿1 currencie5 at the balance sheet d81¢ are reported at the rates of exclw]g¢ prevailing at that date. The T¢suIts of overseas opcrntions are translated at the average rntes of exclwige during the period and their balance sheets at the rate5 ruling at the balance Sheet dale. Exchange differences arising on translation of the opening nei a55ets and results of overseas operations are ￿Ported in other comprehensive income and accumulated in equity (attributed to non-controlling interests as appropriate). Other exchange differences are reco￿18ed in the Statement of FinBncial Activities in the period in which they arise except for. l) exchange differences on transactions cn*red into to hedge certain foreign currency risks (see above): 2) exchange differences arising on gains or losw on non-monetsry iteD]s which are recogni5ed in other comprehensive income: and 3) in the cas¢ of the consolidaied finan¢ial stat¢ments, cxchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither plann¢d nor likely to occur (therefore forniin8 pan of the net investment in th¢ fo￿18￿ operation). which are r¢cognised in other comprehensiv¢ incorne and reported under equity. Fund •trnc¢ure Unrestricted iDcom¢ funds are 8¢neral fvnds that are available for use at the trustee5' discretion in furtherance of the objective5 of the charity. Restricted income fvnd5 arc thosc donated for use in a particulor area or for spe¢ific purposa, the usc of which is restri¢ted to that area or PUTPOSe. 3. Income from ¢haritable #¢llvl¢ie$ Unrestrlcted funds Gen¢ral Restrleted funds Total lund$ 11.089 11,089 2.300 Playgroup Fees Donations Other Grants FArly Years Grants 2,300 64.416 12.750 77,166 Total for 2024 Total for 2023 Page 11 FORKHtLL PRESCHOOL PLAYGROUP LiTrirrED Notes to the Financial Ststements for the Year Ended 31 July 2024 4. Expendlture on charitable a¢ttYEties Unrestricted filnds General Restricted fuDds Total funds Note 20.938 20.938 72.579 500 3.549 Staff costs Governance costs Other wsts 72,579 500 3549 Totsl for 2024 21,438 16,598 76.128 75.381 97.566 91,979 Totsl for 2023 Unrestri¢ted funds General Totsl 2024 Total 2023 funds Charitsble activities 20.938 Activitv Undertaken directly GnDt fundlng of activity Total expenditure Charitable activity 15,878 72.324 88.202 Totsl for 2023 15.878 72.324 88.202 Page 12 FORKHILL PRESCHOOL PLAYGROUP LIMITED. Notes to the Financial Statements for the Year Ended 31 July 2024 5. Trus¢ees remunerrdtion *nd expenses No trustees, nor any persons connected with th¢ni have reG¢ived any remunerdtion from the charity during the No trustees have Tec¢ived any reimbursed exp¢nses or any other benefits from the charity during the year. 6. Staff costs The aggre¥8te payroll costs were as follows: 2024 2023 Sllff costs durlttg the yt&r were: Wages and salaries Pension costs Other employee expense5 70,396 948 70.999 730 The monthly average number of persons lincluding seDior management team) employed by the charity during the year expressed 8$ full-time equival¢nts was as follows: 2024 2023 Average number of employees No cmployee ￿e1Ved emoluments of more than £60,000 during thc year. 7. Independent ¢x4mlner'8 remuntrxdoD 2024 2023 Examination of the fin8ncial statements 500 720 8. TaxAtion The charity is a registered charity and is therefore exenwt from tsxation. Page 13 FORKHILL PRESCHOOL PLAYGROUP LIMITED Notes to the Financial Statements for the Year EDded 31 July 2024 9. Tanglble fixed assets Land and bulldings Total Cost At l August 2023 Additions 379,842 379.842 At 3 l July 2024 Depreci&tion Net book value At 31 July2024 At 3 I July 2023" 10. C&gh and Cash equivalellts 2024 2023 Cash at bank 40.371 11. Crediton: amounts falltng due xfter one year 2024 2023 Other loans Page 14 FORI