Rogistralion Number N1023366 Strathfoylo Community A$3ociatlon Llmlt•d Company Llmlted by Guaranlee Flnanclal Statomant8 and Trustees Report For th• Year Ended 318t March 2024 ADCG7ZFT 2810912024 COMPANIES HOUSE A07
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Strathfoyl? Communlty A880clatlon Llmlted Company Llmlted by Guarante• Conionts Pag• Legal and Administrative Information Trustee's Report Independent Examinerfs Report Slatement of Financial Aclivities for the year ended 31 st March 2024 Statemenl of financial poslllon as at 31st March 2024 Notes to the Accounts 10-15
Strathfoyle Community Association LIMitsd Company Limited by Guarantee Legal and Admlnl8tratbve Informatlon Status: The Organisation is a charitable company limited by guarantee incorporated on 11th December 1989. Directors: Hugh Hastings Philomena Coyle M8rtina Jenkins RayTnond Whorisky Accountants: Dlver Donaghy and Company Limited Accountants and Tax Consultants Gortfoyle Business Centre 104-108 Spencer Road Oerry 8T47 6AG 8ankern: Danske Bank PO 8ox 183 Donegall Square West Belfast BT16JS SollcDtor$: Hasson & Co Sollcltors 3941 Clarendon Street Derry BT48 7ER Reglstor•d Offlc•: 31-33 8awnmore Street Stralhfoyle Derry BT47 1XP Company Number: N1023366 Page I
Strathfoyle Communlty Assoclation Llmitsd Company Llmlted by Guarantee Tru8tee8' Annual Report for the Year Ended 31st March 2024 Report of the Trustees for the year ended 31 st March 2024 The directors present their annual report together with Ihe finanal statements of th8 organisation for the period from 1st April 2023 to 31 st March 2024 which are also prepared to meet Ihe requirements for a DlrecloryJ' Report and Accounts for Companies Act purposes. The flnancial slatements comply with the Companies Act 2006, the Memorandum and Articles of Association, and accounting and reporting by charitles: Statement of Recommended Practlce appllcable to charitles preparlng thelr accounts in accordance Ihe Financlal Reportlng Standard appllcable In the UK and Republic of Ire18nd (FRS102) {effectlv8 1 January 2015.) The company Is govemed by a Memorandum and Articles of Association dated 11th Decembér 1989. The company number is N1023366 and Ihe registered offlce Is 31-33 Bawnmore Street. Strathfoyle, Derry, 8T47 1XP, Dlrg¢torn and Tru8t••8 The directors of the company are the trustees for the purpose of charity law. The Dlrectors durlng the perlod and as at 31 st March 2024 were as follows,. Hugh Hastings Philomena Coyle Martina Jankins R8yrnond Whorlsky Page 2
CHAIRPERSONS MESSAGE I would like to acknowledge and value the contribution of our external partners, especially our maln funder Strathfoyle Village Centre Ltd. We are also very grateful for the funds awarded to us by Northern Ireland Housing Executive, Halifax, Apex Housing Association, Derry city and Strabane District Council, Western Health and Social Care Trust, Rural Area Partnership in Derry and Department of Agriculture, Environment and Rural Affairs. These funds are vital to ensure we can contlnue to provlde and extend our programme of work for our community. I wlsh to commend the work of our staff, management committee, Directors, Trustees and volunteers for thelr support and commitment during the past year. I would Ilke to thank all the residents for their continued support and dedicatlon to this communlty and its development. Our summer fe5tlval was our best to date. Our fun day brought Sn the bl88est attendance we've ever had with almost 500 residents attending on the day. This brought smiles to the faces of children throughout the area. We also held a party for chlldren with additional needs making this yearfs festival our most inclusive yet. Our festival would not have been possible without the support from NIHE Coheslon Unit who once again awarded fundin8 towards the c05t5 of our event5. We contlnue to provlde our meals on wheels service to the elderly and vulnerable wlthln the community 5 days per week for a subsidised rate. Our Advice Northwest outreach servlce is available in our premises every Thursday from 14:00- 16:(M), by appointment only. Local groups came together at Chrlstmas to hold several events Including a children's party, a vlsit from Santa to turn on the Christmas Tree lights and our annual Older Peoples Dinner Dance at The Belfray Country Inn. These events would not have been possible without the help of Apex Housing As50ciatlon who covered the costs of the evenls. We also organlsed a Christmas Craft Fair in Strathfoyle Youth Centre. This was a 8reat event with a variety of Christrna5 items on offer at great prlce5. l am looking forward to another successful year as Chairperson of Strathfoyle Community Association Ltd and the further development of this community In the coming years. Alex Duffy A D,lF, Chalrperson 12th September 2024
Strathfoyle Communlty Association Limited Company LSmited by Guarantee Tru8tees' Annual Roport for the Year Ended 31st March 2024 - Contlnued Statement of Dlrectors Responslbllftle$ The directors are responsible for preparing the directors report and financial statements in accordan wilh applicable law and United Kingdom Accounting Standards. (United Kingdom Generally Accepted Accounting Practice) Company Law requlres the dlrectors to prepare financlal statement for each financial period whlch give a true and fair view of the Stale of affairs of the company and of the profit or loss of the rnpanY for that year. In preparlng these the dlrectors are requlred to. select suiLqble accountlng pollcles and apply them conslstently; observe the methods and princlples In the Charitles SORP; make judgements and estirnates Ihat are reasonable and prudent; state whether appllcable UK Accounting Standards have been followed, subject to any material dopartures dlsclosed and explalned in the financlal sLqtements; prepar8 the financial statements on Ihe going concern basls unless It Is inappropriat• to presume that the company will continue in business. The dlrectors are responsible for keeping proper accounting records whlch disclose with reasonable accuracy at any tim8 the financial posltion of the company and to enable them to ensure that the financial statements comply wilh the Companies Act 2006. They are also responsible for the safeguarding of assets of the company and hencé for taking reasonable steps for the prevention and deteclion of fraud and other irregularities. The report has been prepared in accordance with the Special provisions for small companies under Part 15 of the Companies Act 2006. The report Was approved by the board on the 4th September 2024 and signed on it's behalf by: Hugh asting8 Director 4th S•ptamb•r 2024 Pag• 4
Strathfoyle Communlty Assoclatlon Llmited Company Llmlted by Guarantee Independent examlnerfg report to Ihe DirnGtors of Strathfoyl• Communlty Association Limiled for Ihe year •nd•d 31st March 2024 We report solely to the company directors on our oxamination of the accounls for the year ended 31 st March 2024. To Ihe fullest extent permitted by law, we do not accept or assume responslbility to anyone other than Strathfoyle Community Association Limited and Its dlrectors as a body for our work or for this report. As a practising membef firm of charte Accountants Ireland, we are subject to its ethical and other professional requlrernents which are detailed at www.Charted8cc0Untants.ie Re8pectlve rnsponslblllties ol the dlrector8 and examlnor As the directors of the company. you are reponsible for the preparation of the accounts In accordance wlth lh• requirernents of the Companles Act 2006 and the Charities Act (Northem Ireland> 2008. Having satisfied ourselves that the charity is not subject lo an audit under Company Law, and is eligible for independent examination, it is our responsibility to. examine accounts under seGtion 65 of the Charities Act follow the procedure laid down in general directions given by the Charty Commission for Northem Ireland under sectlon 65(9)(b) of the Charities Act slate whether particular matters have come to our attentlon. Basls of Indopandant Examlnerfs Réport We have examined your charily accounts as requlred under section 65 of the Charities Act and our examination VRS carried out in accordance wlth the general dlrections given by the Charity Cornmisslon for Northern Ireland under section 65(91(b) of the Charltles Act. The examSnation included a review of the accounting records kept by Ihe charlty and a comparfson of th8 accounts presented vlth those records. It also Included considertlon of any unusual Items or dlsclosures In the accounts, and seeklng explanations from you as charity trusteeg concerning any such matters. Our role is to state whether any materlal matters have comè to our attention giving us concern to belleve: 1. the accountlng records were not kept as required by sectlon 386 of tha Companies Act 2006 and section 63 of the Charlties Act; 2. that the accounts do not accord wilh those accountlng records: 3. that the accounts do not comply with the accounting requirements of Section 396 of the Companies Act 2006, The Charltles Act and with methods and principles of the Charities ststement of Recommended Practlce applicable to charities pparing their accounts in accordance wilh the Financial Reportlng Standard applicab18 in the UK and Republic of Ireland. 4. ihat there is further Informats'on needed for a proper understanding of tho accounts to be reached. Page 5
Strathfoyle Community As80¢iation Limited Company Llmlted by Guarantee Independent examlnetrs report to the Dlrectors of Strathfoyle Cornmunlty Assoclatlon Limited for the year ended 31st March 2024 - Contlnued Indop•nd•nt Examln•es Statement We have completed our examination and have no concems in respect on the matters (1) to (4) above and, in connection wllh following the directions of the Charity Comrnission for Northern Ireland, we have found no matters that require drawing to your attention Dlver Donaghy and ompany Llmlted Gortfoyle 8uslness C¢ntr• 104-108 Spencer Road Derry BT47 GAG 4th S•pt•mbor 2024 Page 6
Strathfoyle Community Associatlon Limited Company Llmlted by Guaranlee ststemont of Flnanclal Actlvltl08 for Iha Year Ended 318t March 2024 Unrestricted Restricted Totals Funds Funds 2024 Totals 2023 Notes ur Donatlons 51000 9149 60149 47000 Income from Activilles of Furtherance of charitable objects 27651 27651 32403 Incorn8 from actlvltles for generating funds Other Income 21750 21750 21750 Total Incorno Re80urc•s 72750 36800 109550 101153 aBources Ex end Charitable expenditure: Furtherance of Charitable activities 9386 9730 10995 Management and admlnlstration 61970 32136 94106 92301 Oepreciation Total R•sourc•s Expend•d 62314 41522 103836 103296 Not Mov•ment In Funds 10436 4722 5714 -2143 Total funds brought forward at Beginning of Year 11343 10840 12983 Total funds carried forward at end of Year 21779 4722 16554 10840 Thera arg no gains or losses other than the profit or loss for the above financial year. Page 7
Strathloyle Communlty AssoGialion Limited Company Limited by Guarantee Statement of Flnanclal Posltlon as at 31¥t March 2024 Unrestricted RestriGted Totals Funds Funds 2024 Totals 2023 Notes Flxed Assets Tangible Assets 08btors and Prepayrnents Cash at Bank and on hand 6750 11799 6750 11799 6750 4900 Total Current Ass•ts 18549 18549 11650 Cr•dltors: Amounts lalllng du• wlthln on• year -1995 -1995 -810 N•t Curront Assets 16554 16554 10840 Tolal Assets less Curr•nt Ilabllltl•8 16554 16554 10840 Credltors: Amounts falling due after one year Net A880ts 16554 16554 10840 Inanc Funds 10 21779 -4722 16554 10840 For the year ending 31st March 2023 the company wag entitled to exernption from audll under sectlon 477 of the Companles Act 2006 relatlng to small companies. Directors Responsibillties: The members have nol required the company to obtain an audit of It's financial stat8m8nts for th8 perlod In question in accordance with section 476; The directorg acknowledge their responsibiliti8s for complying with Ihe requirements of the Act with respect to accounting records and the preparation of financial siatements. These financial statements havè been prepared in accordance with the provisions applicable to companies subject to Ihe small companies, regime and in accordance with FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. Page 8
Strathfoyle Community A5$0ciatlon Limited Company Llmlled by Guarantee ststement of Flnanclal Posltlon a8 at 318t March 2024 These financial statements were approved by the Board of Directors and aulhorised for issue on Ihe 4th September 2024 and were signed on behaff of the board by: Hugh H Dlrector ng5 4th Septomb•r 2024 Company R•gl8tr4tlon Numb•r: N1023366 Page 9
Strathfoyle Community Associatlon Limited Company Llmlted by Guarantee Note8 to the Flnanclal Slatoments For tho Year Ended 31st March 2024 1.G•n•r•l Informatlon The company is a charitable private company limited by guarantee, registered in Northern Ireland. Tha address of the registered offica Is 31-33 8awnmore Place, Stralhfoyle, Derry. BT47 1XP. 2.Accountlng pollcles 8asls Of proparat5on The financial statements have been prepared in acrdance with Accounting and Reporting by Charities: Slatement of Recommended Praclice applicable to charities Prepan9 thelr accounts In accordanc8 wlth the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Strathfoyle Community Association Limited meets the definition of a public benefit entlty under FRS 102. Assets and liabilities are initially recognised at historical Cost or transaction v81ue unless otherwise stated In the relevant accounling policy Nole{s). Tumov•r Turnover represents the total value of grants received and receivable as well a8 other income arlsing from other operating and fundralslng activitles during the year. Grants are rergniSed In the Proflt and Loss account when the conditions for their receipt have been complled with and there is reasonable assurance that Ihe grant will be received. Tanglbl• assets Tangible assets are initlally recorded at cost. and are subsequenily stated at cost less any accumulated depreciation and impairmenl losses. D•préclatlon Depreciation is calculated so as to write off Ihe cost or valuation of an asset, less its resldual value, over the useful economic lrfe of that asset. Page 10
Strathfoyle Communlty Association Limited Company Llmlted by Guarantee Notes to the Flnancial Slatements For the Year Ended 31st March 2023 Financial Instruments A flnancial asset or a financl81 Ilablllty Is recognised only when ihe company becomes a paty to th8 contractual provlsions of the Instrument. Basic financial instruments are inilially recognised at the transactlon price, unless the arrangèment constilutes a financing transaction, wher8 it is recognised at the present value of the future payments discounted at a market rate of interest for a slmilar debt Snstfurnent. Debt instnJmenls are subsequently measured at amortised Cost. Wher8 Investments In non<onvertibla preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at falr value with changes In f8ir value recognised In profil or loss. All olher such Inve8tment8 are sub88quently measured at cosl lass impalrmont. Other financlal instruments, including derivaliv8s, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest Ihal is not a rnarket rate, in which case ihe asset is measured at the present value of the future payments discounted at market rate of Interest for a similar debt instrument. Other financial instruments are subsequently rneasured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship. Flnancial asset$ that are measured at cost or amortised cost are reviewed for objective evidence of Impairment at the end of each reporting date. If there Is objective evldenG8 of Impairment, an impairrnent108s is recognisad in profit or loss immediately. For all equity instrurnents regardless of significance, and other financial assets thal are individually significant, these are assessed individually for impaiment. Other financial assets or either 888ess•d individually or grouped on the basls of similar credil risk characteristics. Any reversals of Impairment are recognised In profil or loss Immediately, to the extent that the reversal does not result in a carrying amount of the financial assel that exceeds what the carrying amount would have been had the impalmient not previously been recognised. 3.Fund Unrestricled Revenue Funds - comprise Ihose revenue funds which Ihe managernent committe8 are free to use in accordance with the company objectives. Restricted Revenue Funds - comprise those revenue funds which have been given for particular purposes and projects. 4.Llrnlted by Guarant•• Slrathfosrfe Community Association Limited is a registered Charity limited by guarantee without a Share Capital. Pago 11
Strathfoyle Community Assoclalion Llmited Company Llmited by Guaranlee Notes to the Flnanclal Slalements For the Year Ended 31st March 2023 ncamln Resources Unrestrfctod Restrlcted Tolals Funds Funds 2024 Totals 2023 Do atlo ncomln Resources Donats'ons 51000 9149 60149 47000 MAC Ivltl 8ofF her RAPID NIHE- SPOD-Community Fund Dept. of Justlce DAERA Claudy Rural Devek)pment Halifax- Grant WHSCT Community Fund 2962 1906S 2962 19065 458 21710 2340 2223 672 5000 624 5000 624 5000 27651 27651 32403 mefr vltl ener tln funds Fundraislng Evants Other Income Investm•n Oth r Incom Interest Received s1rathfoe Village Centre Limiled 21750 21750 21750 21750 21750 21750 Total Incomlng Rosources 72750 36800 109550 101153 Pag• 12
Strathfoyle Community Assoclation Lirnited Company Llmited by Guarantee Note¥ to the Financlal Slalements For the Year Ended 31st March 2024 6. Resources Ex ended Unrestrlcted Restrlcted Totals Funds Fund• 2024 Totals 2023 FurtheranrA Social Functions Canteen Costs Van Expenses Fundlng Grou able Actlvllies 366 5580 3440 710 5580 3440 709 6170 2706 1410 9386 9730 10995 Wages Water Rates Insurance Costs Advertlsing, Stationery and Printlng Light and Heat Bank Charges Telephone and Postsge Travel Expenses Accountancy Professional Fees Repairs and Maintenance Festlval Expenses Donations Sundry 42419 527 9165 28280 70699 527 12220 66921 709 9002 144 2781 206 1321 3055 1987 205 1216 497 2484 205 1520 304 1644 1644 1704 500 3446 5184 4272 4272 300 235 300 235 383 61970 32136 94106 92301 reciatl Depreciation of Tangible Assets Total Rèsour8 Expondod 62314 41522 103836 103296 7. Staff Costs The average nurnber of persons employed by the company durlng the year was 4. (2023 - 4) Page 13
Strathfoyle Community Association Llmited Company Limited by Guarantee Noto9 to th• Flnancial Stalements For tho Year Ended 3181 March 2024 8. Tan ible Planl & Equlpment Van Total Cost As at 1 April 2023 Additions Olsposals 21266 11470 32736 Balance as al 31st Mah 2024 21266 11470 32736 Depreclatlon As at 1 April 2023 Charge for the Period Released on Disposals 21266 11470 32736 8alance as at 31st March 2024 21266 11470 32736 Net Book Value As at 31st March 2024 As at 31st March 2023 9. Crndltors: Amount8 fallln wlthln on Y•ar 2024 2023 PAYE & NIC Wages 810 1348 1995 810 Page 14
Strathfoyle Community Association Limited Company Llmited by Guardntee Notes to the Flnanclal Slalemen18 For the Perfod Ended 31st Mar¢h 2022 sis of Char5table Funds Analysis of Movements In Unrestrlcted Funds Balance ,' Incomlng Resourcos Funds al 01.04.23 Re8ourrA8 Exponded 31.03.24 General Fund 9200 72750 62314 19636 Namo of Unr08trlct•d Fund General Funds 0é8crlpllon of th• Fund Funds whlch the Association Is able to apply freely in pursuit of its own Gharitable objectives and related purposes. Analy81• of Mov•ment8 In Ro8trlcted Fund8 8alanc•, Incomlng 01.04.23 Resources Ro8ource• Funds at Exp•nd•d 31.03.24 Restricted Fund 36800 41522 4722 Nam• of R•strl¢t•d Fund Restrlcted Fund Des¢rlpiion of the Fund Funds whlch the Association applies for particular purposes and projects in pursuit of its charitable objectives. All Deficlts ara transforred to and Vered by the Unrestrlcted Funds. Page 15