Company registration number.. N1685847
Charity registration number.. 109558
Kilcoo Regeneration Group Limited
(A company limited by share capital)
Annual Report and Financial Statements
for the Year Ended 31 March 2025
KPS Accountants Limited
50A Main Street
Newcastle
Co Down
BT33 OAD

Kilcoo Regeneration Group Limited
Contents
Reference and Administrative Details
Trustees, Report
2to4
Independent Examiner's Report
5t06
Statement of Financial Activities
Balance Sheet
Notes to the Financial Statements
9t015

Kilcoo Regeneration Group Limited
Reference and Administrative Details
Charity Registration Number
109558
Company Registration Number N1685847
Registered Office
1211123 Dublin Road
Kilcoo
Newry
Co Down
BT34 5HP
Independent Examiner
KPS Accountants Limited
50A Main Street
Newcastle
Co Down
BT33 OAD
Page 1

Kilcoo Regeneration Group Limited
Trustees. Report
The trustees, who are directors for the purposes of company law, present the annual report together with
the financial statements of the charitable company for the year ended 31 March 2024. The
trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)-
Objectives and activities
Objects and aims
Kilcoo Regeneration Group Limited will purchase, manage and maintain community facilities for the
social, recreational and educational benefits of inhabitants of Kilcoo. Accepting gifts, borrowing money
and raising funds to acquire and ensure the sustainability of the community facilities.
Financial review
Principal funding sources
The principal funding sources are grants and donations.
Plans for future periods
Aims and key objectives for future periods
The Charity will be providing people in the Kilcoo area with a community space to engage in services and
activities designed to improve their physical and mental wellbeing. The benefits above will be
demonstrated by the number of community buildings acquired for community use and the numbers
accessing services and activities within the community facilities. The charities beneficiaries are people
living in and around Kilcoo village.
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows".
Trustees:
Mabel Mccarthy
Mr Roger Morgan
John Devlin
Andrina Fettes (resigned 22 October 2024)
Gabrielle Fitzpatrick
Mary Sloan (appointed 22 October 2024)
Noirin Madine (appointed 22 October 2024)
Page 2

Kilcoo Regeneration Group Limited
Trustees. Report
Structure, governance and management
Nature of governing document
The charity is controlled by its governing document, Articles of Association, and constitutes a limited
company by guarantee as defined by the Companies Act 2006.
Statement of trustees. responsibilities
The trustees (who are also the directors of Kilcoo Regeneration Group Limited for the purposes of
company law) are responsible for preparing the trustees, report and the financial statements in
accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice). including FRS 102 "The Financial Reporting Standard applicable in the
UK and Republic of Ireland"
Company law ￿qUIreS the trustees to prepare financial statements for each financial year. Under
company law the trustees must not approve the financial statements unless they are satisfied that they
give a true and fair view of the state of affairs of the charitable company and of the incoming resources
and application of resources, including its income and expenditure, of the charitable company for that
period. In preparing these financial statements, the trustees are required to..
select suitable accounting policies and apply them consistently.,
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent.,
state whether applicable accounting standards, comprising FRS 102 have been followed, subject to
any material departures disclosed and explained in the financial statements., and
prepare the financial statements on the going concern basis unless it is inappropriate to presume that
the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records that can disclose with reasonable
accuracy at any time the financial position of the charitable company and enable them to ensure that the
financial statements comply with the Companies Act 2006and Charities Act (Northern Ireland) 2008. They
are also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees are responsible for the maintenance and integrity of the corporate and financial information
included on the charitable company's website. Legislation governing the preparation and dissemination of
financial statements may differ from legislation in other jurisdictions.
Page 3

Kilcoo Regeneration Group Limited
Trustees. Report
The annual report was approved by the trustees of the charity on 9 January 2026 and signed on its behalf
Mabel Mccarthy
Trustee
Mr
oger Morgan
Trustee
Page 4

Kilcoo Regeneration Group Limited
Independent Examiner's Report to the trustees of Kilcoo Regeneration Group
Limited {'the Company.)
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31
March 2025.
Responsibilities and basis of report
As the charity trustees (and also the directors of the company for the purposes of company law) you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies
Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible
for independent examination. it is my responsibility to..
examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008.,
follow the procedures laid down in the general Directions given by the Charity Commission for Northern
Ireland under section 65(9)(b) of the Charities Act., and
state whether particular matters have come to my attention.
Basis of independent examiner's report
I have examined your charity accounts as required under section 65 of the Charities Act and my
examination was carried out in accordance with the general Directions given by the Charity Commission
for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the
accounting records kept by the charity and a comparison of the accounts presented with those records. It
also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations
from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
1. That accounting records were not kept in accordance with section 386 of the Companies Act 2006
2. That the accounts do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of section 396 of the Companies
Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland
4. That there is further information needed for a proper understanding of the accounts to be reached.
Page 5

Kilcoo Regeneration Group Limited
Independent Examiner's Report to the trustees of Kilcoo Regeneration Group
Limited ('the Company.)
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above
and. in connection with following the Directions of the Charity Commission for Northern Ireland, I have
found no matters that require drawing to your attention.
Nicole Toner
ACCA
KPS Accountants Limited
50A Main Street
Newcastle
Co Down
BT33 OAD
9 January 2026
Page 6

Kilcoo Regeneration Group Limited
Statement of Financial Activities for the Year Ended 31 March 2025
(Including Income and Expenditure Account and Statement of Total Recognised
Gains and Losses)
Unrestricted
funds
Restricted
funds
Total
2025
Note
Income and Endowments from:
Donations and legacies
Other trading activities
Total income
38,003
1,203
11,362
49,365
1,203
39,206
11,362
50,568
Expenditure on:
Raising funds
Charitable activities
(220)
{38,637)
(1,500)
12,445
(1,720)
51,082
Total expenditure
Net incomel(expenditure)
Net movement in funds
(38,857)
13,945
52,802
349
(2,583
2,234
349
(2,583)
(2,234)
Reconciliation of funds
Total funds brought forward
86,668
179,058
265,726
Total funds carried forward
12
87,017
176,475
263,492
The notes on pages 9 to 15 form an integral part of these financial statements.
Page 7

Kilcoo Regeneration Group Limited
(Registration number: N1685847)
Balance Sheet as at 31 March 2025
2025
2024
Note
Fixed assets
Tangible assets
336,623
335,829
Current assets
Debtors
Cash at bank and in hand
2,699
62,654
81,756
65,353
81,756
Creditors: Amounts falling due within one year
Net current assets
10
(15,850
(20,641
49,503
61,115
Total assets less current liabilities
386,126
396,944
Creditors: Amounts falling due after more than one year
Net assets
(122,634)
263,492
(131,218
265,726
Funds of the charity:
Restricted income funds
Restricted funds
176,475
179,058
Unrestricted income funds
Unrestricted funds
87,017
86,668
Total funds
12
263,492
265,726
The financial statements on pages 7 to 15 were approved by the trustees, and authorised for issue on 9
January 2026 and signed on their behalf by".
Mabel Mccarthy
Trustee
Mr
oger Morgan
Trustee
The notes on pages 9 to 15 form an integral part of these financial statements.
Page 8

Kilcoo Regeneration Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Charity status
The charity is limited by share capital, incorporated in
The address of its registered office is..
1211123 Dublin Road
Kilcoo
Newry
Co Down
BT34 5HP
These financial statements were authorised for issue by the trustees on 9 January 2026.
2 Accounting policies
Summary of significant 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 compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in
October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) and the Companies Act 2006.
Basis of preparation
Kilcoo Regeneration Group Limited meets the definition of a public benefit entity under FRS 102. Assets
and liabilities are initially recognised at historical cost or transaction value unless othetwise stated in the
relevant accounting policy notes.
Going concern
The trustees consider that there are no material uncertainties about the charity's ability to continue as a
going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the
charity.
Income and endowments
All income is recognised once the charity has entitlement to the income, it is probable that the income will
be received and the amount of the income receivable can be measured reliably.
Page 9

Kilcoo Regeneration Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Donations and legacies
Donations are recognised when the charity has been notified in writing of both the amount and settlement
date. In the event that a donation is subject to conditions that require a level of performance by the charity
before the charity is entitled to the ftjnds, the income is deferred and not recognised until either those
conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it
is probable that these conditions will be fulfilled in the reporting period.
Legacy gifts are recognised on a case by case basis following the grant of probate when the
administratorlexecutor for the estate has communicated in writing both the amount and settlement date.
In the event that the gift is in the form of an asset other than cash or a financial asset traded on a
recognised stock exchange, recognition is subject to the value of the gift being reliably measurable with a
degree of reasonable accuracy and the title to the asset having been transferred to the charity.
Grants receivable
Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the
grants have been met. Where performance conditions are attached to the grant and are yet to be met, the
income is recognised as a liability and included on the balance sheet as deferred income to be released.
Expenditure
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is
probable settlement is required and the amount can be measured reliably. All costs are allocated to the
applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be
directly attributed to particular headings they have been allocated on a basis consistent with the use of
resources, with central staff costs allocated on the basis of time spent, and depreciation charges
allocated on the portion of the asset's use. Other support costs are allocated based on the spread of staff
costs.
Raising funds
These are costs incurred in attracting voluntary income, the management of investments and those
incurred in trading activities that raise funds.
Charitable activities
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.
Grant expenditure
Grants payable are payments made to third parties in the furtherance of the charitable objectives. Where
the charity gives a grant with conditions for its payment being a specific level of service or output to be
provided, such grants are only recognised in the Statement of Financial Activities once the recipient of the
grant has provided the specific service or output.
Grants payable without performance conditions are recognised in the accounts when a commitment has
been made and communicated to the recipient, and there are no conditions to be met relating to the grant
which remain in the control of the charity.
Page 10

Kilcoo Regeneration Group Limited
Notes to the Financial Ststements for the Year Ended 31 March 2025
Grant provisions
Provisions for grants are made when the intention to make a grant has been communicated to the
recipient but there is uncertainty about either the timing of the grant or the amount of grant payable.
Taxatlon
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received
within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the
Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to
charitable purposes.
Tangible fixed assets
Individual fixed assets costing £0.00 or more are initially recorded at cost, less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
Depreciation and amortisation
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any
estimated residual value, over their expected useful economic life as follows:
Asset class
Land and buildings
Fixtures, fittings and equipments
Depreciation method and rate
2 % straight line
20 % Straight line
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or seNices performed in the
ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at
amortised cost using the effective interest method, less provision for impairment. A provision for the
impairment of trade debtors is established when there is objective evidence that the charity will not be
able to collect all amounts due according to the original terms of the receivables.
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.
Page 11

Kilcoo Regeneration Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing
borrowings are subsequently carried at amortised cost, with the difference be￿een the proceeds, net of
transaction costs, and the amount due on redemption being recognised as a charge to the Statement of
Financial Activities over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest
payable and similar charges.
Borrowings are classified as current liabilities unless the charity has an unconditional right to defer
settlement of the liability for at least twelve months after the reporting date.
Fund structure
Unrestricted income funds are general funds that are available for use at the trustees discretion in
furtherance of the objectives of the charity.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of
which is restricted to that area or purpose.
3 Income from donations and legacies
Unrestricted
funds
General
Restricted
funds
Total
funds
Donations and legacies-,
Donations from individuals
Legacies
Grants. including capital grants;
Grants from other agencies
1,097
36,906
1,097
36,906
11,362
11,362
Total for 2025
38,003
11,362
49,365
Total for 2024
38,152
195,000
233,152
4 Income from other trading actlvities
Unrestricted
funds
General
Total
funds
Trading income.,
Other trading income
1,203
1,203
Total for 2025
1,203
1,203
Page 12

Kilcoo Regeneration Group Limited
Notes to the Financial Ststements for the Year Ended 31 March 2025
S Staff costs
The aggregate payroll costs were as follows..
2025
staff costs during the year were:
Wages and salaries
7,137
No employee received emoluments of more than £60,000 during the year.
6 Taxation
The charity is a registered charity and is therefore exempt from taxation.
7 Tangible fixed assets
Land and
buildings
Furniture and
equipment
Totsl
Cost
At 1 April 2024
Additions
330,000
11,440
10,027
341,440
10,027
At 31 March 2025
330,000
21,467
351,467
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
4,950
6,600
661
2,633
5,611
9,233
11,550
3,294
14,844
Net book value
At 31 March 2025
318,450
18,173
336,623
At 31 March 2024
325,050
10,779
335,829
8 Debtors
2025
other debtors
2,699
Page 13

Kilcoo Regeneration Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
9 Cash and cash equivalents
2025
2024
Cash on hand
Cash at bank
177
62,477
81,756
81,756
62,654
10 Creditors: amounts falling due within one year
2025
2024
Bank loans
Other taxation and social security
Accruals
14,012
577
1,261
15,850
19,441
1,200
20,641
11 Creditors: amounts falling due after one year
2025
2024
Bank loans
122,634
131,218
12 Funds
Balance at 1
April 2024
Incoming
resources
Resources
expended
Balance at 31
March 2025
Unrestricted funds
General
86,668
39,206
(38,857)
13,945
87,017
Restricted funds
179,058
11,362
176,475
Total funds
265,726
50,568
{52,802)
263,492
Page 14

Kilcoo Regeneration Group Limited
Notes to the Financial Statements for the Year Ended 31 March 2025
Balance at 1
April 2023
Incoming
resources
Resources
expended
Balance at 31
March 2024
Unrestricted funds
General
83,262
38,152
{34,746)
(15,942)
86,668
Restricted funds
195,000
179,058
Total funds
83,262
233,152
(50,688
265,726
13 Analysis of net assets between funds
Unrestrlcted
funds
General
Total funds
at 31 March
2025
Restricted
funds
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets
333,377
62,924
(15,850)
(122,634)
257,817
3,246
336,623
62,924
(15,850)
{122,634)
261,063
3,246
Unrestricted
funds
General
Total funds
at 31 March
2024
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
335,829
81,756
(20,641)
(131,218)
335,829
81,756
{20,641)
(131,218)
265,726
Total net assets
265,726
Page 15

Kilcoo Regeneration Group Limited
Statement of Financial Activities by fund for the Year Ended 31 March 2025
Unrestricted Funds
Total
Total
Unrestricted Unrestricted
Funds
Funds
2025
2024
Income and Endowments from:
Donations and legacies
Other trading activities
38,003
1,203
38,152
Total income
39,206
38,152
Expenditure on:
Raising funds
Charitable activities
(220)
{38,637)
(34,746)
Total expenditure
(38,857
(34,746
Net income
349
3,406
Net movement in funds
349
3,406
Reconciliation of funds
Total funds brought forward
86,668
83,262
Total funds carried fO￿ard
87,017
86,668
This page does not form part of the statutory financial statements.
Page 16

Kilcoo Regeneration Group Limited
Statement of Financial Activities by fund for the Year Ended 31 March 2025
Restricted Funds
Total
Total
Restricted Restricted
Funds
Funds
2025
2024
Income and Endowments from:
Donations and legacies
11,362
195,000
Total income
11,362
195,000
Expenditure on:
Raising funds
Charitable activities
{1,500)
12,445
15,942
Total expenditure
Net {expenditure)lincome
13,945)
15,942
2,583
179,058
Net movement in funds
(2,583)
179,058
Reconciliation of funds
Total funds brought fomard
Total funds carried fotward
179,058
176.475
179,058
This page does not form part of the statutory financial statements.
Page 17

Kilcoo Regeneration Group Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
Total
2025
Total
2024
Income and Endowments from:
Donations and legacies (analysed below)
Other trading activities (analysed below)
Total income
49,365
1,203
233,152
50,568
233,152
Expenditure on:
Raising funds (analysed below)
Charitsble activities (analysed below)
Total expenditure
Net (expenditure)lincome
(1,720)
(51,082)
{50,688)
(52,802)
(50,688
(2,234)
182,464
Net movement in funds
(2,234)
182,464
Reconciliation of funds
Total funds brought fotward
Total funds carried forward
265,726
83,262
263,492
265,726
This page does not form part of the statutory financial statements.
Page 18

Kilcoo Regeneration Group Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
Total
2025
Total
2024
Donations and legacies
Draw Income
Events Income
Grants - capital
Grants - revenue
36,906
1,097
4,747
6,615
37,195
957
165,000
30,000
49,365
233,152
Other trading activities
Rental income
1,203
1,203
Raising funds
Fundraising costs
Direct costs
(220)
(1,500)
Charitable activities
Wages and salaries
Wages and salaries
Staff training
Light, heat and power
Insurance
Repairs and maintenance
Charitable donations
Sundry expenses
Advertising
Accountancy fees
Accountancy fees
Legal and professional fees
Legal and professional fees
Bank charges
Bank interest payable
Depreciation of freehold propety
Depreciation of freehold propety
Depreciation of fixtures and fittings
Depreciation of fixtures and fittings
Depreciation of Offi￿ equipment
(6,560)
(577)
(145)
(3,561)
(4,051)
(10,487)
(870)
(8,234)
(132)
(1,192)
(3,691)
{13,746)
(2,790)
(7,500)
(600)
(600)
(12,867)
{1.260)
(2,400)
(300)
(267)
(2,716)
(3,300)
(3,300)
(57)
(2,411)
(128)
(281)
{1,810)
(2,475)
(2,475}
(661)
This page does not form part of the statutory financial statements.
Page 19

Kilcoo Regeneration Group Limited
Detailed Statement of Financial Activities for the Year Ended 31 March 2025
Total
2025
Total
2024
Depreciation of office equipment
staff pensions (Defined contribution) pension scheme 1
(37)
289
51,082
{50,688)
This page does not form part of the statutory financial statements.
Page 20