**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)
- 1 -
## **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
- 2 -
## **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:
- examine the financial statements under section 65 of the Charities Act (Northern Ireland) 2008;
- 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
- 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:
- 1. Accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
- 2. The financial statements do not accord with those accounting records; or
- 3. 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
- 4. 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
- 3 -
## **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.
- 4 -
## **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)
- 5 -
## **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.
- 6 -
## **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.
- 7 -
## **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|
- 8 -
## **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|
- 9 -
## **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|
- 10 -
## **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**
**£**
-|
|---|---|---|
|||-|
- 11 -
## **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).
- 12 -