Registration Number NI023366
Strathfoyle Community Association Limited Company Limited by Guarantee
Financial Statements and Trustees Report
For the Year Ended 31st March 2025
Strathfoyle Community Association Limited Company Limited by Guarantee
Contents
| Contents | ||
|---|---|---|
| Page | ||
| Legal and Administrative Information | 1 | |
| Trustee's Report | 2 | - 4 |
| Independent Examiner's Report | 5 | - 6 |
| Statement of Financial Activities for the year ended 31st March 2025 | 7 | |
| Statement of financial position as at 31st March 2025 | 8-9 | |
| Notes to the Accounts | 10 | - 15 |
Strathfoyle Community Association Limited Company Limited by Guarantee
Legal and Administrative Information
Status:
The Organisation is a charitable company limited by guarantee incorporated on 11th December 1989.
| Directors: | Hugh Hastings |
|---|---|
| Philomena Coyle | |
| Martina Jenkins | |
| Raymond Whorisky | |
| Accountants: | Diver Donaghy and Company Limited |
| Accountants and Tax Consultants | |
| Gortfoyle Business Centre | |
| 104-108 Spencer Road | |
| Derry | |
| BT47 6AG | |
| Bankers: | Danske Bank |
| PO Box 183 | |
| Donegall Square West | |
| Belfast | |
| BT1 6JS | |
| Solicitors: | Hasson & Co Solicitors |
| 39-41 Clarendon Street | |
| Derry | |
| BT48 7ER | |
| Registered Office: | 31-33 Bawnmore Street |
| Strathfoyle | |
| Derry | |
| BT47 1XP | |
| Company Number: | NI023366 |
Page 1
Strathfoyle Community Association Limited Company Limited by Guarantee
Trustees' Annual Report for the Year Ended 31st March 2025
Report of the Trustees for the year ended 31st March 2025
The directors present their annual report together with the financial statements of the organisation for the period from 1st April 2024 to 31st March 2025 which are also prepared to meet the requirements for a Directors' Report and Accounts for Companies Act purposes.
The financial statements comply with the Companies Act 2006, the Memorandum and Articles of Association, and 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 (FRS102) (effective 1 January 2015.)
The company is governed by a Memorandum and Articles of Association dated 11th December 1989. The company number is NI023366 and the registered office is 31-33 Bawnmore Street, Strathfoyle, Derry, BT47 1XP.
Directors and Trustees
The directors of the company are the trustees for the purpose of charity law. The Directors during the period and as at 31st March 2025 were as follows:
Hugh Hastings Philomena Coyle Martina Jenkins Raymond Whorisky
Page 2
Strathfoyle Community Association Limited Company Limited by Guarantee
Trustees' Annual Report for the Year Ended 31st March 2025 - Continued
Chair's Report
I would like to acknowledge and value the contribution of our external partners, especially our main funder Strathfoyle Village Centre Ltd. We are also very grateful for the funds awarded to us by Northern Ireland Housing Executive, Clothworkers Foundation, Radius Housing Association, Derry City and Strabane District Council, Western Health & Social Care Trust, Rural Area Partnership in Derry and Department of Agriculture, Environment and Rural Affairs. These funds are vital to ensure we can continue to provide and extend our programme of work for our community.
I wish to commend the work of our staff, management committee, Directors, Trustees and volunteers for their support and commitment during the past year.
I would like to thank all the residents for their continued support and dedication to this community and its development.
Our summer festival was a success as always, our family fun day being the highlight of the week. This brought smiles to the faces of children throughout the area. We once again held a party for children with additional needs. It is vital that we make our festival inclusive to all. Our festival would not have been possible without the support from NIHE Cohesion Unit who once again awarded funding towards the costs of our events.
We continue to provide our meals on wheels service to the elderly and vulnerable within the community 5 days per week for a subsidised rate. Our Advice Northwest outreach service is available in our premises every Thursday from 14:00 – 16:00, by appointment only.
Local groups came together at Christmas to hold several events including Santas Grotto, a visit 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 Radius Housing Association who contributed towards the costs of the events. We also organised a Christmas Craft Fair in Strathfoyle Youth Centre. This was a great event with a variety of Christmas items on offer at great prices.
I 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
Alex Duffy Chairperson
29[th] September 2025
Page 3
Strathfoyle Community Association Limited Company Limited by Guarantee
Trustees' Annual Report for the Year Ended 31st March 2025 - Continued
Statement of Directors Responsibilities
The directors are responsible for preparing the directors report and financial statements in accordance with applicable law and United Kingdom Accounting Standards. (United Kingdom Generally Accepted Accounting Practice)
Company Law requires the directors to prepare financial statement for each financial period which give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that year.
In preparing these the directors are required to:
-
select suitable accounting policies and apply them consistently;
-
observe the methods and principles in the Charities SORP;
-
make judgements and estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for the safeguarding of assets of the company and hence for taking reasonable steps for the prevention and detection 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
and signed on it's behalf by:
pep[Atal] ap Hugh Hastings Director
Page 4
Strathfoyle Community Association Limited Company Limited by Guarantee
Independent examiner's report to the Directors of Strathfoyle Community Association Limited for the year ended 31st March 2025
We report solely to the company directors on our examination of the accounts for the year ended 31st March 2025. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Strathfoyle Community Association Limited and its directors as a body for our work or for this report. As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie
Respective responsibilities of the directors and examiner
As the directors of the company, you are reponsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 and the Charities Act (Northern Ireland) 2008. Having satisfied ourselves that the charity is not subject to an audit under Company Law, and is eligible for independent examination, it is our responsibility to:
-
examine accounts under section 65 of the Charities Act
-
follow the procedure laid down in general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act
-
- state whether particular matters have come to our attention.
Basis of Independent Examiner's Report
We have examined your charity accounts as required under section 65 of the Charities Act and our 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 accounts presented with those records. It also included considertion of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
Our role is to state whether any material matters have come to our attention giving us concern to believe:
-
the accounting records were not kept as required by section 386 of the Companies Act 2006 and section 63 of the Charities Act;
-
that the accounts do not accord with those accounting records;
-
that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006, The Charities Act and with methods and principles of the 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.
-
that there is further information needed for a proper understanding of the accounts to be reached.
Page 5
Strathfoyle Community Association Limited Company Limited by Guarantee
Independent examiner's report to the Directors of Strathfoyle Community Association Limited for the year ended 31st March 2025 - Continued
Independent Examiner's Statement
We have completed our examination and have no concerns in respect on the matters (1) to (4) above and, in connection with following the directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention
Diver Donaghy and Company Limited Gortfoyle Business Centre 104-108 Spencer Road Derry BT47 6AG
Page 6
Strathfoyle Community Association Limited Company Limited by Guarantee
Statement of Financial Activities for the Year Ended 31st March 2025
| Income from Activities of Furtherance of charitable objects 5 Notes Incoming Resources Donations Other Income Total Income Resources Resources Expended Charitable expenditure: Furtherance of charitable activities 6 Management and administration 6 Depreciation Total Resources Expended Net Movement in Funds Total funds brought forward at Beginning of Year Total funds carried forward at end of Year 5 Income from activities for generating funds 5 5 |
0 38104 38104 3174 22928 26102 75570 33495 109065 16554 0 16554 19539 8946 28485 Unrestricted Restricted Totals Funds Funds 2025 £ £ £ 59979 3200 63179 0 0 0 21750 28800 50550 81729 70104 151833 0 4735 4735 78744 61158 139902 2985 8946 11931 |
27651 0 Totals 2024 £ 60149 21750 |
|---|---|---|
| 109550 | ||
| 9730 94106 0 |
||
| 103836 | ||
| 10840 5714 |
||
| 16554 |
Thera are no gains or losses other than the profit or loss for the above financial year.
Page 7
Strathfoyle Community Association Limited Company Limited by Guarantee
Statement of Financial Position as at 31st March 2025
| Creditors: Amounts falling due within one year 9 Fixed Assets Tangible Assets Current Assets Debtors and Prepayments Cash at Bank and on hand Total Current Assets Notes Net Current Assets Total Assets less Current liabilities Net Assets Financed By: Funds 8 Creditors: Amounts falling due after one year 10 |
-2677 0 -2677 6750 0 6750 347 0 347 7097 0 7097 Unrestricted Restricted Totals Funds Funds 2025 £ £ £ 0 24065 24065 4420 0 4420 4420 24065 28485 0 0 0 4420 24065 28485 19539 8946 28485 |
0 Totals 2024 £ |
|---|---|---|
| 6750 11799 |
||
| 18549 | ||
| -1995 | ||
| 16554 | ||
| 0 16554 |
||
| 16554 | ||
| 16554 |
For the year ending 31st March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors Responsibilities:
-
The members have not required the company to obtain an audit of it’s financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'
Page 8
Strathfoyle Community Association Limited Company Limited by Guarantee
Statement of Financial Position as at 31st March 2025
These financial statements were approved by the Board of Directors and authorised for issue on the ***** and were signed on behalf of the board by:
Hugh Hastings Director
Company Registration Number: NI023366
Page 9
Strathfoyle Community Association Limited Company Limited by Guarantee
Notes to the Financial Statements For the Year Ended 31st March 2025
1. General information
The company is a charitable private company limited by guarantee, registered in Northern Ireland. The address of the registered office is 31-33 Bawnmore Place, Strathfoyle, Derry, BT47 1XP.
2. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with 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 (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 entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy Note(s).
Turnover
Turnover represents the total value of grants received and receivable as well as other income arising from other operating and fundraising activities during the year. Grants are recognised in the Profit and Loss account when the conditions for their receipt have been complied with and there is reasonable assurance that the grant will be received.
Tangible assets
Tangible assets are initially recorded at cost. and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset.
Page 10
Strathfoyle Community Association Limited Company Limited by Guarantee
Notes to the Financial Statements For the Year Ended 31st March 2025
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Where investments in non-convertible 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 fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets 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 evidence of impairment, an impairment loss is recognised in profit or loss immediately.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
3. Funds
Unrestricted Revenue Funds - comprise those revenue funds which the management committee 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. Limited by Guarantee
Strathfoyle Community Association Limited is a registered Charity limited by guarantee without a Share Capital.
Page 11
Strathfoyle Community Association Limited Company Limited by Guarantee
Notes to the Financial Statements For the Year Ended 31st March 2025
| RAPID NIHE - SPOD -Community Fund Radius Housing Association D&SDC DAERA Halifax - Grant WHSCT NIHE - Festivals Cloathworkers - Grant Strathfoyle Village Centre Limited 5. Incoming Resources Donations and Similar Incoming Resources Donations Income from Activities of Furtherance of charitable objects Income from activities generating funds Investment and Other Income Total Incoming Resources Fundraising Events Other Income |
0 1775 1775 0 20602 20602 0 1299 1299 0 11500 11500 0 712 712 0 0 0 0 0 0 0 2216 2216 0 28800 28800 21750 0 21750 0 38104 38104 21750 28800 50550 Unrestricted Restricted Totals Funds Funds 2025 £ £ £ 59979 3200 63179 0 0 0 0 0 0 0 0 0 81729 70104 151833 |
Totals 2024 £ 60149 |
|---|---|---|
| 2962 19065 0 0 0 5000 624 0 27651 |
||
| 0 0 0 |
||
| 0 21750 21750 |
||
| 109550 |
Page 12
Strathfoyle Community Association Limited Company Limited by Guarantee
Notes to the Financial Statements For the Year Ended 31st March 2025
| Furtherance of Charitable Activities Social Functions Canteen Costs Van Expenses CAF America Funding Good Relations Management and Administrative Costs Wages Water Rates Insurance Costs Advertising, Stationery and Printing Light and Heat Bank Charges Telephone and Postage Travel Expenses Accountancy Legal Fees - Court Case Repairs and Maintenance Festival Expenses Donations Sundry 6. Resources Expended Depreciation Depreciation of Tangible Assets Total Resources Expended |
3174 1315 4489 0 4810 4810 0 2781 2781 0 5928 5928 8094 8094 47615 31744 79359 568 0 568 2261 754 3015 0 0 0 2757 689 3446 207 0 207 1234 308 1542 0 0 0 1620 0 1620 11780 0 11780 7528 0 7528 0 0 0 0 0 0 0 0 0 3174 22928 26102 75570 33495 109065 Unrestricted Restricted Totals Funds Funds 2025 £ £ £ 0 4735 4735 78744 61158 139902 |
710 5580 3440 0 0 Totals 2024 £ |
|---|---|---|
| 9730 | ||
| 70699 527 12220 0 2484 205 1520 0 1644 0 4272 0 300 235 |
||
| 94106 | ||
| 4735 | ||
| 108571 |
7. Staff Costs
The average number of persons employed by the company during the year was 4. ( 2024 - 4 )
Page 13
Strathfoyle Community Association Limited Company Limited by Guarantee
Notes to the Financial Statements For the Year Ended 31st March 2025
8. Tangible Assets
Plant &
| As at 1 April 2024 Additions Disposals As at 1 April 2024 Charge for the Period Released on Disposals PAYE & NIC Wages Cost Balance as at 31st March 2025 Depreciation Balance as at 31st March 2025 Net Book Value As at 31st March 2025 As at 31st March 2024 9. Creditors: Amounts falling due within one Year |
21266 11470 0 28800 0 -11470 Equipment Van £ £ |
32736 28800 -11470 32736 4735 -11470 2025 £ 1318 1359 2677 Total £ 50066 26001 24065 0 |
2024 £ 647 1348 1995 |
|---|---|---|---|
| 21266 28800 |
|||
| 21266 11470 0 4735 0 -11470 |
|||
| 21266 4735 |
|||
| 0 24065 |
|||
| 0 0 |
|||
Page 14
Strathfoyle Community Association Limited Company Limited by Guarantee
Notes to the Financial Statements For the Period Ended 31st March 2025
10. Analysis of Charitable Funds
Analysis of Movements in Unrestricted Funds
General Fund
Balance Incoming Resources Funds at 01.04.24 Resources Expended 31.03.25 £ £ £ £ 16554 81729 78744 19539
Name of Unrestricted Fund Description of the Fund
General Funds
Funds which the Association is able to apply freely in pursuit of its own charitable objectives and related purposes.
Analysis of Movements in Restricted Funds
Restricted Fund
Balance Incoming Resources Funds at 01.04.24 Resources Expended 31.03.25 £ £ £ £ 0 70104 61158 8946
Name of Restricted Fund Description of the Fund
Restricted Fund
Funds which the Association applies for particular purposes and projects in pursuit of its charitable objectives.
All Deficits are transferred to and covered by the Unrestricted Funds.
Page 15