Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Charity Registration Number NIC108296 Company Registration No. NI614064
Craigmore & District Community Association (A Company Limited by Guarantee)
Annual Report and Unaudited Financial Statements for the Year Ended 31 August 2024
Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Craigmore & District Community Association Contents of the Financial Statements for the Year Ended 31 August 2024
| Page | |
|---|---|
| Charity Information | 0 |
| Trustees’ Report | 1 to 2 |
| Independent Examiner’s Report | 3 |
| Statement of Financial Activities | 4 |
| Balance sheet | 5 to 6 |
| Notes to the Financial Statements | 7 to 12 |
Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Craigmore & District Community Association Company Information
Trustees:
| Trustees: | |
|---|---|
| J M Bradley | |
| (Appointed 3 July 2024) Mrs A Bradley | |
| P Bryson | |
| E Devlin | |
| E J Higgins | |
| (Resigned 3 July 2024) Mrs U Higgins | |
| (Appointed 3 July 2024) Mrs Á McConomy | |
| D McCusker | |
| F McGilligan | |
| (Resigned 3 July 2024) E J McQuillan | |
| Ciaran Molloy | |
| Conor Molloy | |
| S Keane | |
| Registered Office: | 62 Tirkane Road |
| Maghera | |
| BT46 5AG | |
| Company Registered Number: | NI614064 |
| Charity Registration Number: | NIC108296 |
| Independent Examiner: | Leahy Accounting Services Ltd |
| 126 Glen Road | |
| Maghera | |
| BT46 5JG | |
| Bankers: | Bank of Ireland |
| Market Street | |
| Magherafelt | |
| BT45 6EE |
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Craigmore & District Community Association Trustees’ Report (Including Directors’ Report) For the Year Ended 31 August 2024
The Trustees, who are also the directors of the company for the purposes of the Companies Act 2006, present their annual report and financial statements for the year ended 31 August 2024.
The information with respect to trustees, directors, officers, and advisers set out on the information page, forms part of this report. The financial statements comply with the charity’s governing document, the Companies Act 2006 and ‘’Accounting and Reporting by Charities: Statement of Recommended Practice (SORP) 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)’’.
Reference and administration details
Craigmore & District Community Association (the charity), is a charitable company limited by guarantee, incorporated on 20th August 2012. It is registered with the Companies Registrar under registration number NI614064. It is also registered with the Charity Commission N.I. under reference NIC108296. The trustees of the charity are listed on the information page. The principal and registered office of the charity is also listed on the information page together with details of the professional advisors and bankers
Objectives and activities
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission guidance on public benefit. The charity's principal activity continued to be the provision of community, sporting, and social facilities for the people of Craigmore District.
Governance
During the period under review the trustees met regularly. A panel comprised of existing trustees selects members for the board. Trustees serve for a one-year period and may be reelected for a further one-year period. The trustees who served during the year to 31st August 2024 are listed on the information page.
Financial Review
The statement of financial activities for the year is set out on page 4 of the financial statements. Income for the year was £12,987 [2023: £11,888] and expenditure was £20,203 [2023: £16,357].
Reserves policy
The charity’s policy on restricted funds is to separately record donations, grants, and other sources of fundraising where restrictions are imposed that are narrower than the charity’s overall objectives. The trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets or designated for specific purposes (“the free reserves”) held by the charity should be between six and nine months of the resources expended. At this level, the trustees consider that they would be able to continue the current activities of the charity in the event of a significant drop in income.
It would also be necessary to consider how the income would be replaced, or activities changed. At the balance sheet date, the free reserves did exceed the minimum amount.
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Achievement and performance
The Glen centre is used on a regular basis and continues to be a focal point for community life in the district.
Taxation
As a charity, the company is not liable for corporation tax on its income or on capital gains to the extent that these are applied to its charitable objects.
Statement of trustees’ responsibilities in respect of the annual report and the financial statements
The trustees who are also the directors of Craigmore & District Community Association for the purpose of company law, are responsible for preparing the financial statements for each financial year which give a true and fair view, in accordance with United Kingdom Generally Accepted Accounting Practice of the state of affairs of the charity and of the statement of financial activities of the charity for that period. In preparing those financial statements the trustees are required to:
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select suitable accounting policies and apply them consistently;
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observe the methods and principles in the Charities SORP;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements:
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make judgements and estimates that are reasonable and prudent;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The trustees are responsible for the keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and that help ensure that the accounts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Risk management
The trustees have reviewed the major risks to which the charity is exposed, and systems have been established to manage those risks.
Plans for the future
The directors remain confident that the current level of performance will be improved in the future, and it is the Trustees’ intention to develop the present activities of the Company.
Small company provisions
This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 applicable to companies subject to the small companies’ regime.
11/21/2024
This report was approved by the board on __ and signed on its behalf by.
Conor Molloy - Trustee
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Craigmore & District Community Association Independent Examiner’s Report to the Trustees of Craigmore & District Community Association
I report on the accounts of the charity for the year ended 31 August 2024, which are set out on pages 4 to 12.
Respective responsibilities of 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 accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008;
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follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
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state whether particular matters have come to my attention.
Basis of independent examiner's report
I have examined your charity accounts as required under section 65 of the Charities Act 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 accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts 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:
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That accounting records were not kept in accordance with section 63 of the Charities Act 2008
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That the accounts do not accord with those accounting records
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That the accounts do not comply with the accounting requirements of the Charities Act 2008
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That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner's statement
I have completed my examination and 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.
____ Donal W. Leahy, FCA Leahy Accounting Services Ltd 126 Glen Road Maghera BT46 5JG
11/21/2024
Date: _______
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Craigmore & District Community Association Statement of Financial Activities (Including Income and Expenditure Account) for the Year Ended 31 August 2024
| Notes Income from: Donations and Legacies Charitable activities Total Income Expenditure on: Charitable activities Net income/(expenditure) for the year/net movement in funds 2 Reconciliation of funds: Fund balances at 1 September 2023 Fund balances at 31 August 2024 |
Unrestricted funds £ Restricted funds £ Total 2024 £ Total 2023 £ 1,770 - 1,770 2,600 11,217 - 11,217 9,288 |
|---|---|
| 12,987 - 12,987 11,888 |
|
| (20,203) - (20,203) (16,357) |
|
| (7,216) - (7,216) (4,469) 154,084 - 154,084 158,553 |
|
| 146,868 - 146,868 154,084 |
All amounts above relate to the continuing operations of the Company.
The charity has no other gains or losses other than those included in the results above, therefore no separate statement of gains and losses has been presented.
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Craigmore & District Community Association Balance Sheet As at 31 August 2024
| Fixed Assets Notes Tangible Assets 8 Current Assets Debtors 9 Cash at Bank Creditors:amounts falling due within one year 10 Net current assets/(liabilities) Total assets less current liabilities Accruals and deferred income 11 Net Assets Income funds Restricted funds Unrestricted funds |
£ 97 5,906 |
2024 £ 265,826 5,469 |
£ - 3,731 |
2023 £ 285,054 2,954 |
|---|---|---|---|---|
| 6,003 (534) |
3,731 (777) |
|||
| - 146,868 |
- 154,084 |
|||
| 271,295 (124,427) |
288,008 (133,924) |
|||
| 146,868 | 154,084 | |||
| 146,868 | 154,084 | |||
| 146,868 | 154,084 |
The trustees’ statements required are shown on the following page which form part of the Balance Sheet
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Craigmore & District Community Association Balance Sheet - continued For the Year Ended 31 August 2024
In approving these financial statements as trustees of the company we hereby confirm:
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a) for the year ended 31st August 2024, the company was entitled to exemption conferred by Section 477 of the Companies Act 2006.
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b) that no notice has been deposited at the registered office of the company pursuant to Section 476 requesting that an audit be conducted for the year ended 31st August 2024.
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c) that we acknowledge our responsibilities for:
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ensuring that the company keeps accounting records which comply with Section 386; and
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preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit or loss for the year then ended in accordance with the requirements of section 393 and which otherwise comply with the provisions of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
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 and authorised for issue by the trustees on 11/21/2024 _______ and signed on its behalf by
Conor Molloy - Trustee
Mrs Á McConomy - Trustee
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Craigmore & District Community Association Notes to the Financial Statements For the Year Ended 31 August 2024
1. Accounting policies
Basis of preparation
The financial statements have been prepared in accordance with the charity’s government document, the Companies Act 2006 and ‘’Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable to the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)’’.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 update Bulletin 1 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. The principal accounting policies adopted are set out below.
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.
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 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.
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, as receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Expenditure
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required, and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Expenditure on charities activities includes the cost of services undertaken to further the purposes of the charity and their associated support costs. Supports costs are those functions that assist the work of the charity but do not directly undertake charitable activities.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
| Improvement to leasehold property | - | 4% straight line |
|---|---|---|
| Fixtures and fittings | - | 15% straight line |
Grants
Capital grants and other contributions received towards the cost of tangible fixed assets are included in creditors as deferred income and credited to the profit and loss account over the life of the asset. Revenue grants are credited to the profit and loss account so as to match them with the expenditure to which they relate.
Taxation
The company is a charity and as a result, there is no liability on any of its income.
2. Donations and legacies
| Unrestricted | Restricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | 2024 | 2023 | |
| £ | £ | £ | £ | |
| Donations and gifts | 1,770 | - | 1,770 | 2,600 |
3. Charitable activities
| Room Hire Funeral Dinner Grant funding |
Unrestricted funds Restricted funds Total 2024 Total 2023 £ £ £ £ 5,700 - 5,700 4,471 3,767 - 3,767 1,567 1,750 - 1,750 3,250 |
|---|---|
| 11,217 - 11,217 9,288 |
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
4. Expenditure on Charitable activities
| Direct costs Light, Heat & Power Insurance Repairs & Maintenance Depreciation Bank fees Government grants released Miscellaneous expenses Share of governance costs (see note 5) |
Unrestricted funds Restricted funds Total 2024 Total 2023 £ £ £ £ 4,685 - 4,685 1,366 1,800 - 1,800 1,200 628 - 628 596 250 - 250 1,434 20,678 - 20,678 20,460 175 - 175 135 (9,497) - (9,497) (9,497) 784 - 784 163 |
|---|---|
| 19,503 - 19,503 15,857 700 - 700 500 |
|
| 20,203 - 20,203 16,357 |
5. Support costs
| Support | Governance | Total | Support | Governance | Total | |
|---|---|---|---|---|---|---|
| Costs | costs | 2024 | Costs | costs | 2023 | |
| £ | £ | £ | £ | £ | £ | |
| Independent Examiner fees |
- | 700 | 700 | - | 500 | 500 |
6. Trustees
None of the trustee (or any persons connected with them) received any remuneration or benefits from the charity during the year.
7. Operating Surplus
The operating surplus is stated after charging:
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Depreciation | 20,678 | 20,460 |
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Craigmore & District Community Association Notes to the Accounts - continued For the Year Ended 31 August 2024
8. Tangible fixed assets
| Cost At 1 September 2023 Additions At 31 August 2024 Depreciation and impairment At 1 September 2023 Charge for period At 31 August 2024 Carrying Amount At 31 August 2024 At 31 August 2023 9. Debtors Trade debtors Other debtors (VAT refund due) |
Improvement to Leasehold Property £ 494,418 - |
Fixtures and fittings Total £ £ 15,182 509,600 1,450 1,450 |
|---|---|---|
| 494,418 | 16,632 511,050 |
|
| 212,553 19,777 |
11,993 224,546 901 20,678 |
|
| 232,330 | 12,894 245,224 |
|
| 262,088 | 3,738 265,826 |
|
| 281,865 | 3,189 285,054 |
|
| 2024 2023 £ £ - - 97 - |
||
| 97 - |
10. Creditors: Amounts falling due within one year
| Trade creditors VAT Other creditors |
2024 2023 £ £ - - - 464 534 313 |
|---|---|
| 534 777 |
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
Craigmore & District Community Association Notes to the Accounts - continued For the Year Ended 31 August 2024
11. Accruals and deferred income
| 2024 | 2024 | 2023 | ||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| Deferred government grants | 124,427 | 133,924 | ||||
| 12. Funds | ||||||
| Unrestricted | Balance at |
Incoming | Resources | Transfers / | Balance at | |
| funds | 1 Sep 2023 | Resources | expended | Investment | 31 Aug 2024 | |
| £ | £ | £ | £ | £ | ||
| Unrestricted | funds | |||||
| General reserve |
154,084 | 12,987 | 20,203 | - | 146,868 | |
| Total funds | 154,084 | 12,987 | 20,203 | - | 146,868 | |
| Unrestricted | Balance at |
Incoming | Resources | Transfers / | Balance at | |
| funds | 1 Sep 2022 | Resources | expended | Investment | 31 Aug 2023 | |
| £ | £ | £ | £ | £ | ||
| Unrestricted | funds | |||||
| General reserve |
158,553 | 11,888 | 16,357 | - | 154,084 | |
| Total funds | 158,553 | 11,888 | 16,357 | - | 154,084 |
13. Analysis of net assets between funds 31 August 2024
| Tangible Fixed Assets Net current assets/(Liabilities) Total net assets/(liabilities) |
Unrestricted funds Restricted funds Total 2024 Total 2023 £ £ £ £ 265,826 - 265,826 285,054 5,468 - 5,468 2,954 |
|---|---|
| 271,294 - 271,294 288,008 |
Analysis of net assets between funds 31 August 2023
| Tangible Fixed Assets Net current assets/(Liabilities) Total net assets/(liabilities) |
Unrestricted funds Restricted funds Total 2023 Total 2022 £ £ £ £ 285,054 - 285,054 303,014 2,954 - 2,954 (1,040) |
|---|---|
| 288,008 - 288,008 301,974 |
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Docusign Envelope ID: 623C156C-972E-4E1C-998E-32BF302C4CF6
14. Contingent liabilities
A contingent liability exists to repay grants received should certain conditions not be fulfilled by the Company. In the opinion of the trustees the terms of the letters of offer have been complied with and a liability is not expected to arise.
The Company had no other contingent liabilities at 31 August 2024 (2023: NIL).
15. Limited by Guarantee
The Charity is a private company limited by a guarantee and incorporated in Northern Ireland (Registration number NI614064) and as such it does not have a share capital.
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