Company reglstration number: N1656102 Garrlson Communily Group Company limited by guaraniee Unaudlted flnancial statements 31 Oclober 2024 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 equf(y Notes to the financial statements 8-11 Garrison Community Group Company limited by guarantee Dlrectors and Oiher informaiion Directors Mrs Olivia Mcmanus Mr Peter Ferguson 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 off ice 47 Loughside Road Garrison Co. Fermanagh BT93 4BY Business address Main Street Garrison Co.Fermanagh BT93 Accounlants Gerrard O'Brien & Co 27 Main St Belleek Fermanagh BT93 3FY Garrison Community Group Company limited by guarantee Directors report Year ended 31 October 2024 The directors present their report and the unaudited financial statements of the company for the year ended 31 October 2024. Directors The directors who served the company during the year were as follows: Mrs Olivia Mcmanus Mr Peter Ferguson Mrs Aine Latten Mrs Katie Carty 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 29 November 2024 and signed on behalf of the board by: Mrs Olivia Mcmanus Director Mrs Aine Latten Director Garrison Communily Group Company limited by guarantee Report to Ihe board of dlreciors on the preparation of the unaudited statutory financial statements of Garrison Community Group Year ended 31 October 2024 In order to assist you to fulfil your duties under the Companies Act 2006. we have prepared for your approval Ihe financial statements of Garrison Communty Group for the year ended 31 October 2024 which comprise the statement of comprehensive income, statement of financial position, slatement of changes in equily and related notes from the companys 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 httpJlwww.accaglobal.comlenlmemberl professional-standardsl rules-standardslacca-rulebook.html. This report is made solely to the board of directors of Garrison Community 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 Community Group and state those malters that we have agreed to state to the board of directors of Garrison Community Group as a body, in this report in accordance with Ihe requirements of the Association of Chartered Certified Accountants as detailed at http.'/lwww.accaglobal.comlcontentldamlACCA Global ￿eChnICallfac￿technicaI-factsheet-163.pdf. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than Garrison Community 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 stalulory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Garrison Community Group. You consider that Garrison Community Group 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 financial statements of Garrison Communily 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 statutory financial statements. Gerrard O'Brien & Co Accountants 27 Main St Belleek Fermanagh BT93 3FY 29 November 2024 Garrison Communiiy Group Company limited by guarantee Slatement of comprehensive income Year ended 31 October 2024 2024 2023 Note Turnover Other operating expenses 22,870 {22,811) 15,572 (14,946) Operatlng proflt 59 626 Profit betore taxatlon 59 626 Tax on profit Profit for the flnanclal year and iotal comprehenslve Income 59 626 All the activities of the company are from continuing operations. The notes on pages 8 to 11 form part of these financlal statements. Garrison Community Group Company limited by guaraniee Statement of financial position 31 Oclober 2024 2024 2023 Note Fixed assels Tangible assets 3,614 2,403 3.614 2,403 Current assets Debtors Cash at bank and in hand 835 12,928 1.080 14,973 13.763 16,053 Creditors: amounts falling due withln one year {480) (1 .5881 Nel current assets 13.283 14.465 Total assets less current liabilities 16,897 16,868 Nel assets 16.897 16.868 Capilal and reserves Profit and loss account 16.897 16.868 Members funds 16,897 16,868 For the year ending 31 October 2024 the company was entitled to exempiion 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 Iheir responsibilities for complying with the requirements of Ihe Act with respecl to accounting records and the preparation ol financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regirne 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 flnancial statemenls. Garrison Community Group Company Ilmlted by guarantee Statement of financial posilion (continued) 31 October 2024 These financial statements were approved by the board of directors and authorised for issue on 29 November 2024, and are signed on behalf of the board by.. Mrs Olivia Mcmanus Director Mrs Aine Latten Director Company registration number: N1656102 The noies on pages 8 to 11 form part of Ihese financial slatemenls. Garrison Communily Group Company limited by guarantee Staiement ol changes In equity Year ended 31 October 2024 Profit and loss account Total At 1 November 2022 16,242 16,242 Profit for the year 626 626 Total comprehenslve income for the year 626 626 At 31 October 2023 and 1 November 2023 16.868 16,868 Profit for the year 59 59 Total comprehensive income for the year 59 59 Al 31 October 2024 16,927 16,927 Garrison Communlty Group Company limited by guarantee Noies io the financial stalements Year ended 31 October 2024 General informalion The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is 47 Loughside Road, Garrison. Co. Fermanagh, BT93 4BY. Slalemenl of compliance These financial statements have been prepared in compliance with the provisions of FRS 102. Section 1A. 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. Accountlng pollcles Basis of preparatlon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of cerlain financial assets and liabilities and investment properties measured at fair value through proftt 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 from the sale of goods is recognised when the signrficant risks and rewards of ownership have transferred to the buyer (usually on despalch of the goods)-, Ihe amount ol revenue can be measured reliably,. it is probable thal the associated econom ic benefits will flow lo the entty; and the costs incurred or lo be incurred in respect of the transactions can be measured reliably. Taxalion The taxation expense represents the aggregate amount of current and deferred lax recognised in the reporting period. Tax is recognised in the slatement of comprehensive income, except to the exlent that it relates to items recognised in olher comprehensive income or direclly in capital and reserves. In this case. tax is recognised in other comprehensive income or directly in capital and reserves, respectwely. Current tax is recognised on taxable profit for the currenl and pasl periods. Current tax is measured at the amounls of tax expected to pay or recover using the lax 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 lax rates and laws that have been enacted or substantwely enacted by the reporting date that are expected to apply to the reversal of Ihe timing difference. Garrison Community Group Company limited by guaranlee Notes to the linancial slatements (continued) Year ended 31 October 2024 Tangible assels Tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulaied 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 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 reseNes, 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. Depreclatlon Deprecialion is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of Ihat asset as follows.. If there is an indication that there has been a significant change in depreciation rate, useful lrfe 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 ai each reporting date. When it is not possible to estimale the recoverable amount of an individual asset. an estimate is made of the recoverable amount of the cash-generating unit to which Ihe 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. Garrison Community Group Company limited by guarantee Notes to the financial staiements (continued) Year ended 31 October 2024 Financial instruments A financial asset or a financial liabilily 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 subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured al 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 interesl that is not a markel rate, in which case the asset is measured at the present value of the future payments discounted at a markel rate of interest for a sim ilar debt instrument. Other financial inslruments are subsequently measured al fair value, wtth 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 cosl 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 immediately. For all equity instrumenls regardless of significance, and olher financial assets that are indimdually significanl. these are assessed individually for impairment. Olher financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairmenl are recognised in prof it or loss immediately. to the extenl thal the reversal does not resull in a carrying amount of the financial asset Ihat exceeds what the carrying amount would have been had the impairment not previously been recognised. Llmlted by guarantee Tanglble asseis Fixtures. fittings and equipment Total Cosi At 1 November 2023 Additions 2,403 1,211 2,403 1.211 At 31 Oclober 2024 3,614 3,614 Depreciatlon At 1 November 2023 and 31 October 2024 Carrying amounl Al 31 October 2024 3.614 3,614 At 31 October 2023 2.403 2,403 Garrison Community Group Company limlted by guarantee Notes to Ihe financial statements (continued) Year ended 31 Oclober 2024 Debtors 2024 2023 Trade debtors 835 1,080 Creditors: amounls lalling due wlthln one year 2024 2023 Trade creditors Other creditors 148 1,440 480 480 1,588 Garrison Communiiy Group Company limited by guarantee The followlng pages do not form part ol the staiutory accounts. Garrison Community Group Company limiled by guarantee Detalled Income statement Year ended 31 October 2024 2024 2023 Turnover Fundraising & Programme contributions Revenue grants Fermanagh Trust- Callagheen Wind Farm Fund Grant Other Grants Lotlo grant Rent receivable 10,525 1,200 1,500 1,085 6,050 2,510 7.929 4.023 1,500 2.120 22,870 15,572 Gross profit 22,870 15,572 Gross proflt percentage 100.0 /0 Overheads Administrative expenses Printing, postage and stationery Sundry expenses - allowable Room Hire Rales Insurance Light and heat Cleaning Repairs and maintenance Christmas events Volunteer Costs Summer activities Telephone Computer costs Other events Hire of Equipment Accountancy fees Bank charges General expenses Charitable donations - type 1 1501 } {85) (2,080) (205) (980) (808) {153) (379) {2,0401 {1881 (9201 11.0031 (671 1331) 1396) 1236) (7,398) (360) {621) (13.556) {3601 13101 (1,2861 (301 1540} (245} (202) (500) (300) {1 ,5001 {2061 (22,841) {14,946} Operating profit 29 626 Operating proflt percentage 0.1¢/. Profit before laxatlon 29 626