Company registration number: N1656102 Garrison Community Group Company limiled by guarantee Unaudited financial statements 31 October 2023
Garrison Community Group Company limited by guarantee Contents Page Directors and other information Directors report Accountants report Statement of comprehensive income Statement of financial position Statement of changes in equity Notes to the financial statements 8-11
Garrison Community Group Company limited by guarantee Directors and other information Directors Mrs Olivia Mcmanus Mrs Jane Carney Mrs Aine Latten Mrs Katie Carty Mr Anthony Feely Mrs Sharon Treacy Mrs Pauline Treacy Mrs Siobhan Morris Mrs Frances Merret Mrs Rosemary Lyons Company number N1656102 Registered ottice 47 Loughside Road Garrison Co. Fermanagh BT93 4BY Business address Main Slreet Garrison Co.Fermanagh BT93 Accountants Gerrard O'Brien & Co 27 Main St Belleek Fermanagh BT93 3FY Page 1
Garrison Community Group Company limited by guaraniee Directors report Year ended 31 October 2023 The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2023. Directors The directors who served Ihe company during the year were as follows: Mrs Olivia Mcmanus Mrs Jane Carney Mrs Aine Latten Mrs Katie Caty Mr Anthony Feely Mrs Sharon Treacy Mrs Pauline Treacy Mrs Siobhan Morris Mrs Frances Merret Mrs Rosemary Lyons Small company provisions This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. This report was approved by the board of directors on 26 February 2024 and signed on behalf of the board by: Mrs Olivia Mcmanus Director Mrs Aine Latten Director Page 2
Garrison Community Group Company limited by guarantee Report to the board of directors on the preparation of the unaudited statulory financial statements of Garrison Community Group Year ended 31 October 2023 In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Garrison Community Group for the year ended 31 October 2023 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 us. As a practising member firm of the Association of Chartered Certified Accountants we are subject to its ethical and other professional requirements which are detailed at http.'/kn.accaglobal.com/enlmember/ professional-standardsl rules-standardslacca-rulebook.html. This report is made solely to the board of directors of Garrison Communty Group, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Garrison Communty Group and state those matters that we have agreed to state to the board of directors of Garrison Community Group as a body, in this report in accordance with the requirements of the Association of Chartered Certilied Accountants as delailed at http".Ilww.accaglobal.comlcontenVdam/ACCA_Global ffechnicalltactrtechnical-factsheet-163.pdf. To the fullest exlent permitted by law, we do not accept or assume responsibilily to anyone other than Garrison Communty Group and its board of directors as a body for our work or for this report. It is your duty to ensure that Garrison Community Group has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, tinancial position and profit of Garrison Communty Group. You consider that Garrison Communty Group is exempt from the statutory audit requirement tor the year. We have not been instructed to carry out an audit or a review of the financial statements of Garrison Community Group. 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 stalutory f inancial statements. Gerrard O'Brien & Co Accountants 27 Main St Belleek Fermanagh BT93 3FY 26 February 2024 Page 3
Garrison Community Group Company limited by guarantee Statement of comprehensive income Year ended 31 October 2023 2023 2022 Note Turnover Other operating expenses 15,572 (14,946) 9,717 (9,1171 Operating profit 626 600 Profit before taxation 626 600 Tax on profit Profit for the tinancial year and total comprehensive income 626 600 All the activities of the company are from continuing operations. The notes on pages 8 to 11 form part of these financial statements. Page 4
Garrison Community Group Company limited by guaranlee Statement of financial posltion 31 October 2023 2023 2022 Note Fixed assets Tangible assets 2,403 2,404 2,403 2,404 Current assets Debtors Cash at bank and in hand 1,080 14,973 14,318 16,053 14,318 Creditors: amounts falling due within one year (1 ,5881 (480) Net current assets 14.465 13,838 Total assets less current liabilities 16,868 16,242 Net assets 16.868 16,242 Capital and reserves Profit and loss account 16,868 16,242 Members funds 16,868 16.242 For the year ending 31 October 2023 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 Ot its financial statements for the year in queslion 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 stalements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. The notes on pages 8 to 11 form part of these financial statements. Page 5
Garrison Community Group Company limited by guarantee Statement of financial position (continued) 31 October 2023 These financial statements were approved by the board of directors and authorised for issue on 26 February 2024, and are signed on behalf of the board by: [LIQIIMLwS Mrs Olivia Mcmanus Director Mrs Aine Latten Director Company registration number: N1656102 The notes on pages 8 to 11 form part ot these financial staiements. Page 6
Garrison Community Group Company limited by guarantee Statement of changes in equity Year ended 31 October 2023 Profit and loss account Total At 1 November 2021 15,642 15,642 Profit for the year 600 600 Total comprehensive income for the year 600 600 At 31 Oclober 2022 and 1 November 2022 16,242 16,242 Profit for the year 626 626 Total comprehensive income for the year 626 626 At 31 October 2023 16,868 16,868 Page 7
Garrison Community Group Company limited by guarantee Notes to the financial statements Year ended 31 October 2023 General information The company is a private company limited by guarantee, regislered in Northern Ireland. The address of the registered off ice is 47 Loughside Road, Garrison, Co. Fermanagh. BT93 4BY. Statement of compliance These financial statements have been prepared in compliance with the provisions of FRS 102, Section IA, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,. Accounting policies Basls of preparation The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain f inancial assets and liabilities and investment properties measured at fair value through prof it 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 discounls and Value Added Ta Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer {usually on despatch of the goods),. the amount of revenue can be measured reliably; it is probable that the associated economic benefits will f low to the entity. and the costs incurred or to be incurred in respect of the transactions can be measured reliably. Taxation The taxation expense represenls Ihe aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income. except to the extent 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 capilal 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 laws 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
Garrison Communily Group Company limited by guarantee Notes lo the financial statements (continued) Year ended 31 October 2023 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 ai revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation 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 prolit 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 Ihat 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 econom ic life of that asset as follows- If there is an indication that there has been a significant change in depreciation rate, uselul life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates. Impairment 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 exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to eslimate the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash-generating unit lo which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets. Page 9
Garrison Community Group Company limited by guarantee Notes to the financial stalements (continued) Year ended 31 October 2023 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 ol 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 subsequenlly 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 debl 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 im mediately. For all equity instruments regardless of significance, and other financial assets that are individually significant. these are assessed individually for impairment. Olher financial assets or either assessed individually or grouped on the basis of sim ilar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immedialely, 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. Limited by guarantee Tangible assets Fixlures, fittings and equipment Total Cost At 1 November 2022 and 31 October 2023 2,403 2,403 Depreciation At 1 November 2022 and 31 October 2023 Carrying amount At 31 October 2023 2,403 2,403 At 31 October 2022 2,403 2,403 Page 10
Garrison Community Group Company limited by guarantee Notes to the financial statements (continued) Year ended 31 October 2023 Debtors 2023 2022 Trade debtors 1,080 Creditors: amounts falling due within one year 2023 2022 Trade creditors Other creditors 148 1,440 480 1,588 480 Page 11
Garrlson Communlty Group Company limlted by guarantee The following pages do not torm part of Ihe statutory accounts.
Garrison Community Group Company limited by guarantee Deiailed income statement Year ended 31 October 2023 2023 2022 Turnover Fundraising & contributions Revenue grants Fermanagh Trust - Callagheen Wind Farm Fund Grant Rent receivable 7.929 4.023 1,500 2,120 1,125 5,327 2,000 1.265 15,572 9,717 Gross profit 15,572 9,717 Gross profit percentage 100.0°/. Overheads Distribution costs Printing, postage and stationery (18) Administralive expenses Room Hire Rates Insurance Light and heat Cleaning Repairs and maintenance Christmas events Halloween Programme Easter Programme Volunteer Costs Summer activities Telephone Computer costs Other events Legal and professional Accountancy fees Bank charges General expenses Subscriptions (2.040) 1188) 19201 (1,0031 (67) (331 } (396) (1 ,3901 (1421 {770) {1 .278) 183) {749) {125) 1122) (80) 1210) 12,620) (236) {7,398) {360) (360) {501 (131 (699) {167) {233) {8) {300) (1.500) 12061 (1) 114,946) 19,117) Operating profit 626 600 Operating pro*it percentage 4.OQ/o 6.2°/0 Profit before taxation 626 600