Charity number: NIC109312 Company number: NI656790
CLONDUFF DEVELOPMENT ENTERPRISE (COI) LIMITED
Trustee's report and financial statements
for the year ended 30 November 2024
CLONDUFF DEVELOPMENT ENTERPRISE (COI) LIMITED
Legal and administrative information
Charity number NIC109312 Company registration number NI656790 Registered office 25 Rostrevor Road Hilltown Newry Co Down BT34 5TU Trustee Caitríona Doyle Colm Morgan Appointed 4th November 2024 Marie Cowan Resigned 4th November 2024 Martina Byrne Resigned 4th November 2024 Colm McGinn Appointed 4th November 2024 Paul McGinn Appointed 4th November 2024 Secretary Caitríona Doyle Accountants Mooney Matthews Ltd Suites XO Formation Works 2 Edenaveys Industrial Estate Armagh BT60 1NF Bankers First Trust Bank Hill Street Newry BT34 1AU
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CLONDUFF DEVELOPMENT ENTERPRISE (COI) LIMITED
Statement of financial activities (incorporating the income and expenditure account)
For the year ended 30 November 2024
| Unrestricted Restricted funds funds Notes £ £ Incoming resources Incoming resources from generating funds: Investment income 2 - 1 Incoming resources from charitable activities 3 - 8,830 Total incoming resources - 8,831 Resources expended Purchases - 600 Staff costs 5 - 8,975 Establishment costs - 288 Accountancy fees - 850 Consultancy fees - 500 Advertising costs - 489 Interest payable and similar charges - 94 Depreciation and impairment 114 - Total resources expended 114 11,796 Net incoming/(outgoing) resources for the year / Net income/(expense) for the year ) (114 ) (2,965 Total funds brought forward ) (21,530 - Total funds carried forward ) (21,644 ) (2,965 |
2024 Total £ 1 8,830 8,831 600 8,975 288 850 500 489 94 114 11,910 ) (3,079 ) (21,530 ) (24,609 |
2023 Total £ - - - - - - 600 11,009 - 41 - 11,650 ) (11,650 ) (9,880 ) (21,530 |
|---|---|---|
The statement of financial activities includes all gains and losses in the year and therefore a separate statement of total recognised gains and losses has not been prepared.
All of the above amounts relate to continuing activities.
The notes on pages 8 to 11 form an integral part of these financial statements.
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CLONDUFF DEVELOPMENT ENTERPRISE (COI) LIMITED
Balance sheet
as at 30 November 2024
| Notes Fixed assets Tangible assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors: amounts falling due within one year 10 Net current liabilities Deficiency of assets Funds 11 Unrestricted income funds Total funds |
2024 £ £ 19,841 382 77,607 77,989 ) (122,439 ) (44,450 ) (24,609 ) (24,609 ) (24,609 |
2023 £ £ 19,500 - 2,511 2,511 ) (43,541 ) (41,030 ) (21,530 ) (21,530 ) (21,530 |
|---|---|---|
The Balance Sheet continues on the following page.
The notes on pages 8 to 11 form an integral part of these financial statements.
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CLONDUFF DEVELOPMENT ENTERPRISE (COI) LIMITED
Balance sheet (continued)
Trustee statements required by the Companies Act 2006 for the year ended 30 November 2024
In approving these financial statements as trustee of the company I hereby confirm:
(a) that for the year stated above the company was entitled to the exemption conferred by section 477 of the Companies Act 2006 ;
(b) that no notice has been deposited at the registered office of the company pursuant to section 476 of the Companies Act 2006 requesting that an audit be conducted for the year ended 30 November 2024.
(c) that I acknowledge my responsibilities for:
(1) ensuring that the company keeps proper accounting records which comply with section 386 of the Companies Act 2006, and
(2) 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 sections 394 and 395, and which otherwise comply with the provisions of the Companies Act relating to financial statements, so far as applicable to the company.
The financial statements were approved by the board on 8 August 2025 and signed on its behalf by
Caitríona Doyle Secretary
The notes on pages 8 to 11 form an integral part of these financial statements.
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CLONDUFF DEVELOPMENT ENTERPRISE (COI) LIMITED
Notes to financial statements for the year ended 30 November 2024
1. Accounting policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and the preceding year.
1.1. Basis of accounting
The financial statements are prepared under the historical cost convention and in accordance with the Statement of Recommended Practice 'Accounting and Reporting by Charities' issued in March 2005 (SORP 2005) and the Companies Act 2006.
1.2. Cashflow
The charity has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small charity.
1.3. Incoming resources
All incoming resources are included in the statement of financial activities when the charity is entitled to the income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income:
Grants, including grants for the purchase of fixed assets, are recognised in full in the statement of financial activities in the year in which they are receivable.
Income from investments is included in the year in which it is receivable.
1.4. Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income and the costs of trading for fundraising purposes including the charity's shop.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
1.5. Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Leasehold properties Straight line over the life of the lease - Fixtures, fittings and equipment 25% straight line
1.6. Defined contribution pension schemes
The pension costs charged in the financial statements represent the contribution payable by the charity during the year.
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CLONDUFF DEVELOPMENT ENTERPRISE (COI) LIMITED
Notes to financial statements for the year ended 30 November 2024
| 2. Investment income Restricted funds £ Other interest receivable 1 1 3. Incoming resources from charitable activities Restricted funds £ Grants 8,830 8,830 4. Net outgoing resources for the year Net outgoing resources is stated after charging: Depreciation and other amounts written off tangible fixed assets 5. Employees Employment costs Wages and salaries Pension costs Other costs |
2024 Total £ 1 1 2024 Total £ 8,830 8,830 2024 £ 114 2024 £ 7,215 760 1,000 8,975 |
2023 Total £ - - 2023 Total £ - - 2023 £ - 2023 £ - - - |
|
|---|---|---|---|
| - |
No employee received emoluments of more than £60,000 (2023 : None).
Number of employees
The average monthly numbers of employees (including the trustee) during the year, calculated on the basis of full time equivalents, was as follows:
| Page 9 Voluntary Staff |
2024 Number 4 |
2023 Number 4 |
|---|---|---|
CLONDUFF DEVELOPMENT ENTERPRISE (COI) LIMITED
Notes to financial statements for the year ended 30 November 2024
6. Pension costs
The company operates a defined contribution pension scheme in respect of the staff. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and was as follows:
| follows: | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Pension charge | 760 | - |
7. Taxation
The charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts.
| Long Fixtures, 8. Tangible fixed assets leasehold fittings and property equipment £ £ Cost At 1 December 2023 19,500 - Additions - 455 At 30 November 2024 19,500 455 Depreciation At 1 December 2023 - - Charge for the year - 114 At 30 November 2024 - 114 Net book values At 30 November 2024 19,500 341 At 30 November 2023 19,500 - 9. Debtors 2024 £ Other debtors 382 |
Total £ 19,500 455 |
|---|---|
| 19,955 | |
| - 114 |
|
| 114 | |
| 19,841 | |
| 19,500 | |
| 2023 £ - |
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CLONDUFF DEVELOPMENT ENTERPRISE (COI) LIMITED
Notes to financial statements for the year ended 30 November 2024
| 10. Creditors: amounts falling due within one year Trade creditors Amounts owed to connected companies Other taxes and social security Accruals and deferred income 11. Analysis of net assets between funds |
2024 £ - 118,881 51 3,507 122,439 |
2023 £ 8,000 33,881 - 1,660 |
|---|---|---|
| 43,541 | ||
| 11. | Analysis of net assets between funds | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Unrestricted | Total | ||||||||
| funds | funds | ||||||||
| £ | £ | ||||||||
| Fund balances at 30 November 2024 as represented by: | |||||||||
| Tangible fixed assets | 19,841 | 19,841 | |||||||
| Current assets | 77,989 | 77,989 | |||||||
| Current liabilities | (122,439 | ) | (122,439 | ) | |||||
| (24,609 | ) | (24,609 | ) | ||||||
| 12. | Unrestricted funds | At | At | ||||||
| 1 December | **Outgoing ** | 30 | November | ||||||
| 2023 | resources | 2024 | |||||||
| £ | £ | £ | |||||||
| Unrestricted Funds | (21,530 | ) | ) (3,079 |
) (24,609 |
13. Controlling interest
The ultimate controlling body has been identified as Clonduff Development Enterprise Limited.
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