**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 **Page 1** ## **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.** **Page 5** ## **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.** **Page 6** ## **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.** **Page 7** ## **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. **Page 8** ## **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**
**£**
-| **Page 10** ## **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. **Page 11**