Registration number: NI649047
Saintfield Community Trust
Annual Report and Unaudited Financial Statements
for the Year Ended 30 November 2022
NBAS Chartered Accountants C/o NBAS Chartered Accountants 17 Carnmoney Road, Glengormley Newtownabbey BT36 6HL
Saintfield Community Trust
Contents
| Company Information | 1 |
|---|---|
| Directors' Report | 2 |
| Accountants' Report | 3 |
| iXBRL Detailed Profit and Loss Account | 4 |
| Profit and Loss Account | 5 |
| Statement of Comprehensive Income | 6 |
| Balance Sheet | 7 |
| Statement of Changes in Equity | 8 |
| Notes to the Unaudited Financial Statements | 9 to 13 |
Saintfield Community Trust
Company Information
Directors Damian John Scarlett Brian Robert Gamble Paul Daniel McGeown Registered office 22 Windmill Road Saintfield County Down BT24 7DX Accountants NBAS Chartered Accountants C/o NBAS Chartered Accountants 17 Carnmoney Road, Glengormley Newtownabbey BT36 6HL
Page 1
Saintfield Community Trust
Directors' Report for the Year Ended 30 November 2022
The directors present their report and the financial statements for the year ended 30 November 2022.
Directors of the company
The directors who held office during the year were as follows:
Damian John Scarlett
Brian Robert Gamble
Anna Walker (ceased 1 April 2022)
Paul Daniel McGeown
Principal activity
The principal activity of the company is dormant company
Small companies provision statement
This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the Board on 21 August 2023 and signed on its behalf by:
.........................................
Paul Daniel McGeown Director
Page 2
Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of Saintfield Community Trust for the Year Ended 30 November 2022
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Saintfield Community Trust for the year ended 30 November 2022 as set out on pages 5 to 13 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland (CAI), we are subject to its ethical and other professional requirements which are detailed at http://www.cai.ie.
This report is made solely to the Board of Directors of Saintfield Community Trust, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Saintfield Community Trust and state those matters that we have agreed to state to the Board of Directors of Saintfield Community Trust, as a body, in this report in accordance with CAI Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Saintfield Community Trust and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Saintfield Community Trust has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Saintfield Community Trust. You consider that Saintfield Community Trust is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Saintfield Community Trust. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
......................................
NBAS Chartered Accountants C/o NBAS Chartered Accountants 17 Carnmoney Road, Glengormley Newtownabbey BT36 6HL
21 August 2023
Page 3
Saintfield Community Trust
iXBRL Detailed Profit and Loss Account for the Year Ended 30 November 2022
| Turnover/revenue Cost of sales Opening stock/inventories Purchase of raw materials and consumables Closing stock/inventories Gross profit Distribution costs Administrative expenses Audit and accountancy other services Advertising, promotions and marketing costs Utilities costs Other repairs and maintenance costs Depreciation of fixed assets Legal and professional costs Bad debts and impairment losses Insurance costs Telecommunications Other operational and administration costs Other costs Other operating income Other items (Loss)/profit on ordinary activities before finance charges and interest Interest expense on bank overdraft, bank loans and similar borrowings (Loss)/profit for the financial year |
2022 £ 91,547 - (12,448) - 79,099 (180) (360) (918) (479) (4,689) - - (558) (158) (107,377) (436) (36,056) (438) (36,494) |
2021 £ 19,078 - (4,672) - |
|---|---|---|
| 14,406 (150) (336) (1,515) - (1,136) (1,500) (955) (490) (300) - (376) |
||
| 7,648 - |
||
| 7,648 |
This page does not form part of the statutory financial statements. Page 4
Saintfield Community Trust
Profit and Loss Account for the Year Ended 30 November 2022
| Note Turnover Cost of sales Gross profit Administrative expenses Operating (loss)/profit Interest payable and similar expenses (Loss)/profit before tax 4 (Loss)/profit for the financial year |
2022 £ 91,547 (12,448) 79,099 (115,155) (36,056) (438) (36,494) (36,494) |
2021 £ 19,078 (4,672) |
|---|---|---|
| 14,406 (6,758) |
||
| 7,648 - |
||
| 7,648 | ||
| 7,648 |
The above results were derived from continuing operations.
The company has no recognised gains or losses for the year other than the results above.
The notes on pages 9 to 13 form an integral part of these financial statements. Page 5
Saintfield Community Trust
Statement of Comprehensive Income for the Year Ended 30 November 2022
| (Loss)/profit for the year Total comprehensive income for the year |
2022 £ (36,494) (36,494) |
2021 £ 7,648 |
|---|---|---|
| 7,648 |
The notes on pages 9 to 13 form an integral part of these financial statements. Page 6
Saintfield Community Trust
(Registration number: NI649047) Balance Sheet as at 30 November 2022
| Note Fixed assets Tangible assets 5 Current assets Debtors 6 Cash at bank and in hand Creditors: Amounts falling due within one year 7 Net current assets Total assets less current liabilities Creditors: Amounts falling due after more than one year 7 Net assets Capital and reserves Retained earnings Shareholders' funds |
2022 £ - 33,052 - 33,052 (1,750) 31,302 31,302 (31,302) - - - |
2021 £ 3,409 2,390 65,845 |
|---|---|---|
| 68,235 (1,900) |
||
| 66,335 | ||
| 69,744 (33,250) |
||
| 36,494 | ||
| 36,494 | ||
| 36,494 |
For the financial year ending 30 November 2022 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 accounts for the year in question in accordance with section 476; and
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Approved and authorised by the Board on 21 August 2023 and signed on its behalf by:
......................................... Paul Daniel McGeown Director
The notes on pages 9 to 13 form an integral part of these financial statements. Page 7
Saintfield Community Trust
Statement of Changes in Equity for the Year Ended 30 November 2022
| At 1 December 2021 Loss for the year At 30 November 2022 At 1 December 2020 Profit for the year At 30 November 2021 |
Retained earnings £ 36,494 (36,494) - Retained earnings £ 28,846 7,648 36,494 |
Total £ 36,494 |
|---|---|---|
| (36,494) | ||
| - | ||
| Total £ 28,846 |
||
| 7,648 | ||
| 36,494 |
The notes on pages 9 to 13 form an integral part of these financial statements. Page 8
Saintfield Community Trust
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
1 General information
The company is a private company limited by share capital, incorporated in Northern Ireland.
Tthe large other operational and admin cost £107,377 is the transfer of profit reserves to SDA resulting from an agreed and completed merger of SDA and SCT, agreed on 24th October 2022.
The Charity Number is NIC108269
The address of its registered office is: 22 Windmill Road Saintfield County Down BT24 7DX Northern Ireland
These financial statements were authorised for issue by the Board on 21 August 2023.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).The financial statements have been prepared under the historical cost convention and in accordance with FRS 105 'The Financial Reporting Standard applicable to the Micro-entities Regime'.
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Summary of disclosure exemptions
Going concern
The financial statements have been prepared on a going concern basis.
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.
Page 9
Saintfield Community Trust
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.
3 Staff numbers
The average number of persons employed by the company (including directors) during the year, was 0 (2021 - 0).
Page 10
Saintfield Community Trust
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
4 Loss/profit before tax
Arrived at after charging/(crediting)
Depreciation expense
| 2022 | 2021 |
|---|---|
| £ | £ |
| 4,689 | 1,136 |
Page 11
Saintfield Community Trust
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
5 Tangible assets
| Cost or valuation At 1 December 2021 Additions Disposals At 30 November 2022 Depreciation At 1 December 2021 Charge for the year Eliminated on disposal At 30 November 2022 Carrying amount At 30 November 2022 At 30 November 2021 6 Debtors Current Other debtors 7 Creditors Creditors: amounts falling due within one year Note Due within one year Loans and borrowings 8 Accruals and deferred income |
Furniture, fittings and equipment £ 4,545 35,186 (39,731) - 1,136 4,689 (5,825) - - 3,409 2022 £ 33,052 2022 £ 1,750 - 1,750 |
Furniture, fittings and equipment £ 4,545 35,186 (39,731) - 1,136 4,689 (5,825) - - 3,409 2022 £ 33,052 2022 £ 1,750 - 1,750 |
Total £ 4,545 35,186 (39,731) - 1,136 4,689 (5,825) - - 3,409 2021 £ 2,390 |
|
|---|---|---|---|---|
| - | ||||
| - | ||||
| 3,409 | ||||
| 2022 £ 33,052 2022 £ 1,750 - 1,750 |
||||
| 2021 £ 1,750 150 |
||||
| 1,900 |
Creditors: amounts falling due after more than one year
Page 12
Saintfield Community Trust
Notes to the Unaudited Financial Statements for the Year Ended 30 November 2022
| Note Due after one year Loans and borrowings 8 8 Loans and borrowings Non-current loans and borrowings Bank borrowings Current loans and borrowings Bank borrowings |
2022 £ 31,302 2022 £ 31,302 2022 £ 1,750 |
2021 £ 33,250 |
|---|---|---|
| 2021 £ 33,250 |
||
| 2021 £ 1,750 |
Page 13