Charity registration number 107783 (Northern Ireland) Company registration number NI606737
MAGHABERRY COMMUNITY ASSOCIATION
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
MAGHABERRY COMMUNITY ASSOCIATION
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
H Reddick S B Reddick
Secretary O R A Hunter Senior management Tracey Crothers Centre Manager Charity number (Northern Ireland) 107783 Company number NI606737 Independent examiner Kieran Magill Xeinadin NI Ltd 2 Church Street Ballygawley Co Tyrone Northern Ireland BT70 2HB
MAGHABERRY COMMUNITY ASSOCIATION
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 12 |
MAGHABERRY COMMUNITY ASSOCIATION
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) FOR THE YEAR ENDED 31 MARCH 2025
The trustees present their annual report and financial statements for the year ended 31 March 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Objectives and activities
Objectives and aims
To provide facilities and amenities in the interests of social welfare for recreation and other leisure time occupations, to advance education and increase physical and mental wellbeing with the object of improving the conditions of life for the residents of Maghaberry.
Public benefit
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
Achievements and performance
Significant activities and achievements against objectives
Maghaberry Community Association follow direction on the aims set out in the Community development plan.
We continually provide training to our volunteers and the residents of Maghaberry to enable us to deliver clubs and activities throughout the year to the highest possible standard that adhere to the guidelines set out in our policies and procedures.
After school clubs, youth club, gardening club, Over 50s club and Parent and Toddler group are all delivered weekly by volunteers and are primarily aimed to reduce isolation and increasing community cohesion.
Financial review
The directors have comprehensive financial procedures in place for the income and expenditure of the Maghaberry Community Association.
The Accounts will be prepared by an appointed Independent Examiner each year to 31st March.
During the current period there was a deficit of £12,730 in the previous year there was a deficit (£44).
Reserves policy
It is the policy of the Charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the Charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
The Charity is a company limited by guarantee.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
H Reddick S B Reddick O R A Hunter
(Resigned 1 November 2025)
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MAGHABERRY COMMUNITY ASSOCIATION
TRUSTEES' REPORT (INCLUDING DIRECTOR'S REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
Organisational structure
The charity was established in 2005 and completed registration with the Charity Commission on 28th September 2020.
The Committee of 12 members which are all residents of the local community are elected annually at an Annual General Meeting which takes place no later than 18 months from the previous AGM.
The committee consists of Chairperson, Treasurer, secretary and committee members who hold their position until they stand down or are requested to stand down.
Maghaberry Community Centre follow strict guidelines which are clearly set out in our Policies and Procedures.
The trustees' report was approved by the Board of Trustees.
H Reddick
Trustee
18 December 2025
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MAGHABERRY COMMUNITY ASSOCIATION
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF MAGHABERRY COMMUNITY ASSOCIATION
I report on the financial statements of the Charity for the year ended 31 March 2025, which are set out on pages 4 to 12.
Respective responsibilities of charity trustees and examiner
As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, it is my responsibility to:
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examine the financial statements under section 65 of the Charities Act (Northern Ireland) 2008;
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follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act (Northern Ireland) 2008; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
I have examined your charity financial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also included consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe that:
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- Accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
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- The financial statements do not accord with those accounting records; or
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- The financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); or
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- There is further information needed for a proper understanding of the financial statements to be reached.
Independent examiner's statement
I have completed my examination and I have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
Kieran Magill
Xeinadin NI Ltd 2 Church Street Ballygawley Co Tyrone BT70 2HB Northern Ireland 18 December 2025
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MAGHABERRY COMMUNITY ASSOCIATION
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
| Unrestricted Restricted Total Unrestricted Restricted funds funds funds funds Designated Designated 2025 2025 2025 2024 2024 Notes £ £ £ £ £ Income from: Donations and legacies 3 5,560 30,000 35,560 8,583 25,000 Charitable activities 4 3,961 - 3,961 2,768 - Other trading activities 5 29,248 - 29,248 35,910 - Total income 38,769 30,000 68,769 47,261 25,000 Expenditure on: Charitable activities 6 51,499 30,000 81,499 47,305 25,000 Total expenditure 51,499 30,000 81,499 47,305 25,000 Net expenditure and movement in funds (12,730) - (12,730) (44) - Reconciliation of funds: Fund balances at 1 April 2024 52,943 - 52,943 52,987 - Fund balances at 31 March 2025 40,213 - 40,213 52,943 - |
Total 2024 £ 33,583 2,768 35,910 72,261 72,305 72,305 (44) 52,987 52,943 |
|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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MAGHABERRY COMMUNITY ASSOCIATION
BALANCE SHEET
AS AT 31 MARCH 2025
| Notes Fixed assets Tangible assets 12 Current assets Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities The funds of the Charity Unrestricted funds 16 |
2025 £ 41,921 (3,538) |
£ 1,830 38,383 40,213 40,213 40,213 |
2024 £ 52,156 (1,370) |
£ 2,157 50,786 |
|---|---|---|---|---|
| 52,943 | ||||
| 52,943 | ||||
| 52,943 |
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2025.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 18 December 2025
H Reddick
Trustee
Company registration number NI606737 (Northern Ireland)
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MAGHABERRY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
Charity information
Maghaberry Community Association is a private company limited by guarantee incorporated in Northern Ireland. The registered office is .
1.1 Basis of preparation
The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The Charity is a Public Benefit Entity as defined by FRS 102.
The Charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity.
1.4 Income
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the Charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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MAGHABERRY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Plant and equipment 15% Reducing balance Computers 20% Reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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MAGHABERRY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
1.9 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the Charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | |
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Designated | Designated | |||||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | |
| £ | £ | £ | £ | £ | £ | |
| Grants | 5,560 | 30,000 | 35,560 | 8,583 | 25,000 | 33,583 |
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MAGHABERRY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
4 Income from charitable activities
| Unrestricted | Unrestricted | ||
|---|---|---|---|
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Charitable Income | |||
| Events | 3,961 | 2,768 | |
| 5 | Income from other trading activities | ||
| Unrestricted | Unrestricted | ||
| funds | funds | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Non-charitable trading activities | 15,191 | 22,825 | |
| Membership subscriptions and sponsorships | 14,057 | 13,085 | |
| Other trading activities | 29,248 | 35,910 | |
| 6 | Expenditure on charitable activities | ||
| Heading | Heading | ||
| #ac982 | #ac982 | ||
| 2025 | 2024 | ||
| £ | £ | ||
| Direct costs | |||
| Staff costs | 52,609 | 45,949 | |
| Depreciation and impairment | 327 | - | |
| Event expenses | 3,376 | 4,313 | |
| 56,312 | 50,262 | ||
| Share of support and governance costs (see note 7) | |||
| Support | 21,510 | 19,622 | |
| Governance | 3,677 | 2,421 | |
| 81,499 | 72,305 | ||
| Analysis by fund | |||
| Unrestricted funds | 51,499 | 47,305 | |
| Restricted funds - Designated | 30,000 | 25,000 | |
| 81,499 | 72,305 |
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MAGHABERRY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
7 Support costs allocated to activities
| Insurance Light and heat Telephone, internet and computer costs Postage and stationery Repairs and maintenance Sundry expenses Bank charges Interest due on overdue taxation Governance costs 8 Net movement in funds The net movement in funds is stated after charging/(crediting): Fees payable for the independent examination of the charity's financial statements Depreciation of owned tangible fixed assets |
2025 £ 1,767 17,488 1,225 - 201 351 468 10 3,677 25,187 2025 £ 1,380 327 |
2024 £ 1,684 15,214 1,097 147 - 623 857 - 2,421 |
|---|---|---|
| 22,043 | ||
| 2024 £ 1,314 - |
9 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the Charity during the year.
10 Employees
The average monthly number of employees during the year was:
| 2025 | 2024 |
|---|---|
| Number | Number |
| 3 | 3 |
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MAGHABERRY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025
| Employees Employment costs Wages and salaries Social security costs Other pension costs |
(Continued) 2025 2024 £ £ 50,876 44,038 559 - 1,174 1,911 52,609 45,949 |
(Continued) 2025 2024 £ £ 50,876 44,038 559 - 1,174 1,911 52,609 45,949 |
|---|---|---|
| 45,949 |
10 Employees
There were no employees whose annual remuneration was more than £60,000.
11 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
12 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Plant and equipment Computers £ £ Cost At 1 April 2024 4,877 1,059 At 31 March 2025 4,877 1,059 Depreciation and impairment At 1 April 2024 2,788 991 Depreciation charged in the year 313 14 At 31 March 2025 3,101 1,005 Carrying amount At 31 March 2025 1,776 54 At 31 March 2024 2,089 68 |
Total £ 5,936 |
| 5,936 | |
| 3,779 327 |
|
| 4,106 | |
| 1,830 | |
| 2,157 |
13 Loans and overdrafts
| Bank overdrafts Payable within one year |
2025 £ 1,412 1,412 |
2024 £ - |
|---|---|---|
| - |
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MAGHABERRY COMMUNITY ASSOCIATION
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
13 Loans and overdrafts
(Continued)
14 Creditors: amounts falling due within one year
| 14 Creditors: amounts falling due within one year |
||
|---|---|---|
| Notes Bank overdrafts 13 Other taxation and social security Accruals and deferred income 15 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2025 £ 1,412 534 1,592 3,538 2025 £ 1,174 |
2024 £ - - 1,370 |
| 1,370 | ||
| 2024 £ 1,911 |
The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund.
16 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At General funds Previous year: At General funds |
1 April 2024 Incoming resources Resources expended At 31 March 2025 £ £ £ £ 52,943 38,769 (51,499) 40,213 1 April 2023 Incoming resources Resources expended At 31 March 2024 £ £ £ £ 52,987 47,261 (47,305) 52,943 |
|---|---|
17 Related party transactions
There were no disclosable related party transactions during the year (2024 - none).
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