Company registration number: N1648017 All Lives Are Preclous Ltd Company limited by guarantee Unaudited financial statements 30 September 2024 Eamonn P McGrady & Co Chartered Accountants & Registered Auditors 4-6 Market Lane Downpatrick Co Down BT30 6TH Tel.. 028 44614340 Email.. eamonnmcgrady@yahoo.com
All Lives Are Precious Ltd Company limited by guarantee Contents Page Directors and other infomiation Directors report Accountsnfs report Statement of comprehensNe income Statement of financial position Statement of changes in equity Notes to the financial statements
All Lives Are Precious Ltd Company limitod by guarantee Dlrectors and other infomiation Directors Mr Ronan Gilchrist Mr Peter Cunliffe Mrs Bronagh Reid Mrs Roisin Hampton Mr Eamonn McGrath Company number N1648017 Registered office 21a Irish Street Downpatnck Co Down BT30 6BW Accountant Eamonn P. McGrady & Co 4-6 Market Lane Downpatrick Co Down BT30 6TH Bankers Bank of Ireland 1 Donegall Square South Belfast BT1 5LR Page 1
All Lives Are Precious Ltd Company limited by guarantee Directors report Year ended 30 September 2024 The directors present their report and the unaudited financial statements of the company for the year ended 30 September 2024. Directors The directors who served the company during the year were as follows.. Mr Ronan Gilchrist Mr Peter Cunliffe Mrs Bronagh Reid Mrs Roisin Hampton Mr Eamonn McGrath Small company provisions This report has been prepared in accordan with the provisions applicable to companies entitled to the small companies exemption. This report was approved by the board of directors on 19 June 2025 and signed on behalf of the board by: Mr Ronan Gilchrist Director Page 2
All Lives Are Preclous Ltd Company limited by guarantee Report to the board of directors on the preparation of the unaudited statutory financial statements of All Lives Are Precious Ltd Year ended 30 September 2024 In order to assist you to fulfil your duties under the Companies Act 2006, 1 have prepared for your approval the financial statements of All Lives Are Precious Ltd for the year ended 30 September 2024 which comprise the statement of comprehensive income, statement of financial position, statement of changes in equity and related notes from the company's accounting records and from information and explanations you have given me. As a practising member of Chartered Accountsnts Ireland . l am subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie. This report is made solely to the board of directors of All Lives Are Precious Ltd. as a body, in accordance with the terms of my engagement letter. My work has been undertaken solely to prepare for your approval the financial statements of All Lives Are Precious Ltd and state those matters that we have agreed to state to the board of directors of All Lives Are Precious Ltd as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at wvM.charteredaccountants.ie. To the fullest extent permitted by law, I do not accept or assume responsibilty to anyone other than All Lives Are Precious Ltd and its board of directors as a body for my work or for this report. It is your duty to ensure that All Lives Are Precious Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of All Lives Are Precious Ltd. You consider that All Lives Are Precious Ltd is exempt from the statutory audit requirement for the year. I have not been instructed to carry out an audit or a review of the financial statements of All Lives Are Precious Ltd. For this reason. I have not verified the arKuracy or completeness of the accounting records or information and explanations you have given to me and I do no( therefore, express any opinion on the statutory financial statements. Eamonn P. McGrady & Co Ch2rtered Accountants & Registered Auditors 44 Market Lane Downpatrick Co Down BT30 6TH 19 June 2025 Page 3
All Lives Are Precious Ltd Company limited by guarantee Statement of comprehensive income Year ended 30 September 2024 2024 2023 Note Restricted Unrestricted Funds Funds Total Funds Total Funds Turnover Income Fundraising & donations Grants Other income 71,457 171,655 71.457 171.655 5,012 3,380 74,829 94.520 5,012 3,380 5,012 246,492 251,504 169,349 Cost of charitable activities Counselling Salaries Administrative costs (87,832) (73,905) (20,617) (67.271) (87,832) (46,406) (73,905) (52,503) (20,617) (18,457) (72,283) 169,868) (5,012) (5,012) {249,625) (254,637) (187,2341 Other interest receivable and similar income 49 49 Loss before taxation (3,084) (3,084) {17,885) Tax (9) {9) Loss for the financial year and total comprehensive income (3,093) (3.093) {17.885) All the activities of the company are from continuing operations. The notes on pages 8 to 11 forni part of these finanGial statements. Page 4
All Lives Are Precious Ltd Company limited by guarantee Statement of financial position 30 September 2024 2024 2023 Note Flxed assets Tangible assets 22,723 19,547 22.723 19,547 Current assets Debtors Cash at bank and in hand 8.276 32.946 9,103 35,296 41,222 44,399 Creditors: amounts falling due within one year {6.073) (2,981) Net current assets 35,149 41,418 Total assets less current liabilities 57,872 60,965 Net assets 57,872 60,965 Capital and reserves Profit and loss account 57,872 60,965 Members funds 57,872 60,965 For the year ending 30 September 2024 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 its financial statements for the year in question in accordance with section 476. The directors acknowledge their responsibilib'es for complying with the requirements of the Act with respect to accounting records and the preparats'on of financial statements. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies. regime and in accordance with FRS102 for Charities. The notes on pages 8 to 11 forni part of these financial statements. Page 5
All Llves Are Precious Ltd Company limited by guarantee Statement of financial position (continued) 30 September 2024 These financial statements were approved by the board of directors and authorised for issue on 19 June 2025, and are signed on behalf of the board by: Mr Ronan Gilchrist Director Company registrats'on number: N1648017 The notes on pages 8 to 11 forni part of these flnanGial ststements. Page 6
All Lives Are Precious Ltd Company limited by guarantee Statement Of changes In equity Year ended 30 September 2024 Profrt and loss account Total At 1 October 2022 78,850 78,850 Loss for the year (17.885) (17,885) Total comprehensive income for the year (17,885) (17,885) At 30 September 2023 and 1 October 2023 60,965 60.965 Loss for the year (3,093) {3,093) Total comprehensive income for the year (3,093) (3,093) At 30 September 2024 57,872 57,872 Page 7
All Lives Are Precious Ltd Company limited by guarantee Notes to the financial statements Year ended 30 September 2024 General information The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is 21 a Irish Street, Downpatrick, Co Down. BT30 6BW. Statement of compliance The Financial Statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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) {effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss. The financial statements are prepared in sterling. which is the functional currency of the entity. Turnover Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue trom the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the g¢)odsl,' the amount of revenue can be measured reliably,. it is probable that the associated economic benefits will flow to the entity,. and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Taxation The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the ststement of comprehensive income, except to the extenl that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capttal and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and lavrfs that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference. Page 8
All Lives Are Precious Ltd Company limited by guarantoo Notes to the financial statements {continued) Year ended 30 September 2024 Tangible assets Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciab'on and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in capital and reserves, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess shall be recognised in profit or loss. 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 as follows. If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciab'on is revised prospecb'vely to reflect the new estimates. Impaimient A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exGeeds the recoverable amount, the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generab'ng unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash infFows that are largely independent of the cash inflows from other assets or groups of assets. Government grants Government grants a recognised at the fair value of the asset received or re1Vable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaGhing to them and the grants will be received. Gotrernment grants are recognised using the accrual model and the perfomiance model. Under the accrual model. govemment grants relating to revenue are recognised on a systematic basis over the periods in which the company recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the penod in which it becomes receivable. Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset. Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future perfoMian-re12ted conditions on the recipient, it is recognised in income only vthen the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a Page 9
All Lives Are Precious Ltd Company Ilmited by guarantee Notes to the financial statements Icontinued) Year ènded 30 September 2024 Financial instruments A financial asset or a financial liabilty is recognised only when the company becomes a paty 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 instrumenL Debt instruments are subsequently measured at amortised cost. Where investrnents in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can other*vise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investrnents 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 or10s5 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 immediatety, 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 impainnent not previously been recognised. Limited by guarantee All Lives Are Precious Ltd is a company limited by guarantee and therefore does not have a share capital. Employee numbers The average number of persons employed by the company during the year amounted to 1 {2023.' 1). Loss before taxation Loss before taxation is stated after chargingl{crediting): 2024 2023 Depreciats'on of tangible assets 4,124 3,155 Page 10
All Lives Are Precious Ltd Company limited by guarantee Notes to the financial statements (continued) Year ended 30 September 2024 Tangible assets Short leasehold property Plant and Fixtures, machinery fittings and equipment Motor vehicles Total Cost At 1 October 2023 Additions 15,700 6,604 700 5,441 27,745 7,300 6,600 At 30 September 2024 15,700 7,304 5,441 6,600 35,045 Depreciation At 1 October 2023 Charge for the year At 30 September 2024 3.240 1,246 2.270 1,007 2,688 551 8,198 4,124 1,320 4.486 3.277 3.239 1,320 12,322 Carrying amount At 30 September 2024 At 30 September 2023 11,214 4,027 2.202 5,280 22,723 12,460 4,334 2,753 19,547 Debtors 2024 2023 Other debtors 8,276 9,103 Creditors: amounts falling due within one year 2024 2023 Corporation tax Social security and other taxes Other creditors 2,000 4,064 1,481 1,500 6,073 2,981 10. TAS-NI Ltd During the financial year TAS -Nl Ltd borrowed money from All Lives Are Precious Limited. At the 30th September 2024 TAS-NI Ltd owed All Lives Are Precious Limited £8,276 (2023- £9,103). Ronan Gilchrist is a Director in both companies. Page 11
All Lives Are Precious Ltd Company limited by guarantee The following pages do not forn) part of the statutory accounts.
All Lives Are Precious Ltd Company limited by guarantee Detailed income ststement Year ended 30 September 2024 2024 2023 Turnover Service provision Gifts and donations Pilgrimage funds 71,457 171,655 3.380 74,829 94,520 246,492 169,349 Cost of sales Project facilitation and community training Community project costs Pilgrimage- costs USA Trip- Costs Counselling (49,641) {26,922) (19,484) {34,093) (4,098) (73,905) (52,503} (161,737) (98,909) Gross profit 84,755 70,440 Gross profit percentage 41.6% Overheads Administrative expenses Directors remuneration Employer's social security contributions Staff training Rent payable Insurance Light and heat Repairs and maintenance Printing. postage and stationery Telephone Computer costs Motor and travelling expenses Travelling and entertainment Entertaining Legal and professional Accountsncy fees Book-keeper and admin costs Bank charges General expenses Donations and sponsorship Depreciation of tangible assets (20,617) {18,333) 1124) {2,551) (15,355) (1,521) (1,579) {23,321) (404) (4,374> (277) (8,206) {1,389) (11,136) (2.468) {2,430) (21,099) (4,930} (4,776) (605) (7,624) {45) (455) {2,210) (1,300) (272) (2.726) (650) (341) (1,125) (8.204) (4,124} {3,499) (3,155) (92,900) (88,325) Other operating income
All Lives Are Precious Ltd Company limited by guarantee Detailed income statement (contlnued) Year ended 30 September 2024 2024 2023 Grants 5,012 5,012 Operating loss (3,133) (17,885) Operating loss percentage 1.30/0 10.6/0 Other interest receivable and similar income 49 Loss before taxation (3.084) (17,885)