Registration number.. N1659952 Castlewellan Community Partnership (A company limited by guarantee) Filleted Financial Statements for the Year Ended 31 March 2025 Castlewellan Community Partnership Contents Company Information Balance Sheet 2to3 Notes to the Unaudited Financial Statements 4t06 Castlewellan Community Partnership Company Information Dlrectors Nicola Burns Felix Blaney Registered office 32 Circular Road Castlewellan Co Down BT319ED Page 1 Castlewellan Community Partnership (Registration number: N1659952> Balance Sheet as at 31 March 2025 2025 2024 Note Fixed assets Tangible assets 8,496 10,365 Current assets Cash at bank and in hand 17,461 24,078 Creditors.. Amounts falling due within one year 62,943 (61,639 Net current liabilities 45,482 (37,561 27,196 Net liabilities Reserves Retained earnings (36,986 36,986 27,196 Deficit 27,196 For the financial year ending 31 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 its accounts for the year in question in accordance wifh 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitled by section 444 {5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account. The notes on pages 4 to 6 form an integral part of these financial statements. Page 2 Castlewellan Community Partnership (Registration number: N1659952) Balance Sheet as at 31 March 2025 Approved and authorised by the Board on 24 December 2025 and signed on its behalf by.. icola Burns Director Fe ix Blaney Director The notes on pages 4 to 6 form an integral part of these financial statements. Page 3 Castlewellan Community Partnership Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 General Information The company is a company limited by guarantee, incorporated in Northern Ireland, and consequently does not have share capital. Each of the members is liable to contribute an amount not exceeding £Nil towards the assets of the company in the event of liquidation. The address of its registered office is.. 32 Circular Road Castlewellan Co Down BT319ED These financial statements were authorised for issue by the Board on 24 December 2025. 2 Accounting policies Summary of signiflcant 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 compllance These financial statements have been prepared in accordance wilh 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). Basls 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. Revenue recognltlon Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of seNices in the ordinary course of the company's activities. Turnover is shown net of saleslvalue 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. 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. Page 4 Castlewellan Community Partnership Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025 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.. Asset class Fxtures and Fittings Office Equipment 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. Depreelatlon method and rate 10 % Straight Line 10°/0 Straight Line 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 Ihe 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 ￿e1ve 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. Deflned contributlon pension obllgation A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods. Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment. 3 Staff numbers The average number of persons employed by the company (including directors) during the year, was 3 (2024 - 3) Page 5 Castlewellan Community Partnership Notes to the Unaudited Financial Ststements for the Year Ended 31 March 2025 Tangible assets Furniture, fittings and equipment Other tangible assets Total Cost or valuation At 1 April 2024 8,649 27,977 36,626 At 31 March 2025 8,649 27,977 36,626 Depreciation At 1 April 2024 Charge for the year At 31 March 2025 4,422 865 21,839 1,004 26,261 1,869 5,287 22,843 28,130 Carrying amount At 31 March 2025 3,362 5,134 8,496 At 31 March 2024 4,227 6,138 10,365 5 Creditors Creditors: amounts falling due within one year 2025 2024 Due withln one year Trade creditors Taxation and social security Accruals and deferred income other creditors 1,320 1,179 2,237 58,207 972 1,360 1,100 58,207 62,943 61,639 Page 6