**Charity no: 109634 Company Number: NI679020** 

**Crescent Valley Enterprises Ltd Trustees’ report and financial statements for the year ended 31 March 2025** 



## **Crescent Valley Enterprises Ltd** 

## **Annual report for the year ended 31 March 2025** 

||Pages|
|---|---|
|Trust information|1|
|Trustees’ report|2 - 3|
|Independent examiner's report to the trustees|4|
|Statement of comprehensive income|5|
|Statement of financial position|6|
|Notes to the financial statements|7 - 9|





## **Crescent Valley Enterprises Ltd** 

## **Trust Information** 

## **Trustees** 

Mr J Crilly Mr M Kirkwood Mr D Logan Mrs R Barber Mr J Cunningham Mr P Kee Mr E O’Kane 

## **Northern Ireland charity number** 

109634 

## **Registered office** 

68 Crescent Link Road Londonderry BT47 5AF 

## **Independent examiner** 

Des Reid & Co 30 Clooney Terrace Londonderry BT47 6AR 

## **Bankers** 

Danske Bank 27 Glenshane Road Lodnonderry BT47 2LN 

**Page 1** 



**Crescent Valley Enterprises Ltd** 

## **Trustees’ report for the year ended 31 March 2025** 

The trustees’ present their report and the financial statements for the year ended 31 March 2025. 

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity’s governing document, the Charities Act (Northern Ireland) 2008 and “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** 

Objectives and activities The charity was established for the promotion of community participation in healthy recreation by the provision of facilities for football and multisport for young people in Derry City and its surrounding environs in the North West of Ireland without distinction or disability, sexual orientation, nationality, ethnic identity, political or religious opinion, with the object of improving the condition of life for the beneficiaries. In particular to educate and assist beneficiaries ages 3-24 years old and adults with and without disabilities through recreational activities with an aim of developing skills and improving their athletic and football performance to support their physical fitness, mental and emotional wellbeing which encourages social and societal growth. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. 

## **Achievements and performance** 

The benefits which flow from this include improved physical fitness and mental health, increased skills in various athletic areas aided by support of the family, community and schools. The benefits have been demonstrated through feedback from participants, parent's staff and stakeholders with additional validation being provided by evaluation from independent governing bodies. 

Based at Lisneal college we secured a long term lease (25 years).  with Lisneal and EA We deliver a fundamental movement programme in nursery schools and a multi sports and football programme in primary schools. We work in 30 Schools, Primary and secondary, controlled and maintained across the city and district. 

Maiden City Soccer has a community wide impact from the grassroots. The Organisation runs a number of programmes for children and young people in the field of fundamental movement programmes for early years, football and multisports for young people with and without disabilities. We have run programmes for adults with disabilities in conjunction with PRAXIS. The organisation's core activities and services relate to the provision of facilities for children and young people to enable participation in sport. During the financial year, our organisation was represented by 400 children among  academy teams; including in the North West and Harry Gregg League (U8 to U11), D&D youth League (girls teams) as well as additional teams in the NIBFA National Youth League (U12 to U17). Furthermore, these teams participated in the Foyle Cup and Foyle Games tournaments. The many teams engaged in many cup competitions, as well as charity football events. We also hosted the Foyle Games at our venue, in support of local footballing opportunities for our young people across the district and further afield, a great event we are proud to support. Our ground at Lisneal college was also used for community charity events. Throughout the year, the Academy regularly delivered high quality, structured coaching at 30 schools throughout the North West, from larger inner-city institutions, such as Lisnagelvin Primary school with an enrolment of nearly 700 pupils to smaller rural nursery schools in Ballykelly. Over 1,500 unique children, aged 4-12 years, attending our community hubs throughout the year, the Academy continues to deliver sessions and events in a range of multi-sport activities. These include weekly 60 minute sessions during the school term and seasonal coaching camps during the holiday period. 

14 boys teams and 4 girls teams with 2 male adults and 1 ladies team. 21 football teams in total across youth and senior teams. Each team trains twice a week with weekly matches - as well as competing in local tournaments. To facilitate training and matches we utilise Lisneal to its full capacity but because of the volume we also use DCSDC facilities as well as privately owned facilities that suit our needs. 

## **Financial Review** 

During the year ended 31 March 2025, the Charity received total income of £252,543 and had an overall surplus of £7,421 At the year end the company had funds of £129,455. 

**Page 2** 



## **Crescent Valley Enterprises Ltd** 

## **Trustees’ report for the year ended 31 March 2025 (continued)** 

## **Statement of Trustees’ responsibilities** 

Charity law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity at the year end and its incoming resources and resources expended during that year.  In preparing those financial statements, the Trustees are required to: 

- Select suitable accounting policies and then apply them consistently; 

- Make judgements and estimates that are reasonable and prudent; 

- State whether applicable accounting standards and statements of recommended practice have been followed subject to any 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 Charity will continue its activities. 

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

## **Auditor** 

An audit is not required by the charity. In lieu of this an independent examiner's report will be prepared by Des Reid & Co. 

Mr J Crilly **Trustee** 29 December 2025 

Mrs R Barber **Trustee** 

**Page 3** 



## **Crescent Valley Enterprises Ltd** 

## **Independent Examiner's Report to the Charity Trustees of Crescent Valley Enterprises Ltd for the year ended 31 March 2025** 

We report solely to the charity trustees on our examination of the accounts for the year ended 31 March 2025. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Crescent Valley Enterprises Ltd and its trustees as a body for our work or for this report. As a practising member firm of Chartered Accountants Ireland, we are subject to its ethical and other professional requirements. 

## **Respective responsibilities of charity trustees and examiner** 

As the charity's trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act (Northern Ireland) 2008. Having satisfied ourselves that the charity is not subject to an audit and is eligible for independent examination, it is our responsibility to : 

- examine the accounts under section 65 of the Charities Act ; 

- follow the procedures laid down in 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 our attention. 

## **Basis of independent examiner's report** 

We have examined your charity accounts as required under section 65 of the Charities Act and our 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 included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters. 

Our role is to state whether any material matters have come to out attention giving us concern to believe: 

1.that accounting records were not kept as required by section 63 of the Charities Act; 

2.that the accounts do not accord with those accounting records; 

3.that the accounts do not comply with the accounting requirements of the Charities Act and with methods and principles of the Charities Statement of Recommended Practise 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. 

## **Independent examiner's statement** 

We have completed our examination and have no concerns in respect of the matters (1) to (4) above and, in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. 

## **Des Reid & Co** 

Chartered Accountants 29 December 2025 

**Page 4** 



## **Crescent Valley Enterprises Ltd** 

## **Statement of comprehensive income for the year ended 31 March 2025** 

|||**Unrestricted**|**Restricted**|||
|---|---|---|---|---|---|
|||**funds**|**funds**|**2025**|2024|
||Notes|**£**|**£**|**£**|£|
|**Incoming resources:**||||||
|Grant income||16,319|-|**16,319**|21,999|
|Fundraising||11,181|-|**11,181**|9,820|
|Membership fees and subscriptions||179,093|-|**179,093**|220,724|
|**Total incoming resources**||206,593|-|**206,593**|252,543|
|**Cost of charitable activities:**||||||
|In furtherance of the Charity's objectives|3|213,841|-|**213,841**|219,223|
|Governance costs|4|18,726|-|**18,726**|25,899|
|**Total resources expended**||(232,567)|-|**(232,567)**|(245,122)|
|**Net outgoing resources before transfers**||(25,974)|-|**(25,974)**|7,421|
|Gross transfers between funds||-|-|**-**|-|
|**Net outgoing resources after transfers**||(25,974)|-|**(25,974)**|7,421|
|**Fund balances transferred in**||-|-|**-**|122,034|
|**Fund balances at 31 March 2024**||122,034|-|**122,034**|-|
|**Fund balances at 31 March 2025**||**103,480**|**-**|**103,480**|129,455|



The notes on pages 9 to 12 form an integral part of these financial statements. 

**Page 5** 



## **Crescent Valley Enterprises Ltd** 

## **Statement of financial position as at 31 March 2025** 

|||**2025**|2024|
|---|---|---|---|
||Notes|**£**|£|
|**Fixed assets**||||
|Tangible assets|5|**13,080**|16,147|
|**Current assets**||||
|Cash at bank and in hand||**91,575**|114,258|
|**Creditors: amounts falling due within one year**|6|**(1,175)**|(950)|
|**Net current assets**||**90,400**|113,308|
|**Net assets**||**103,480**|129,455|
|**Funds**||||
|Unrestricted funds|7|**103,480**|129,455|
|Restricted funds|7|**-**|-|
|**Total funds**||**103,480**|129,455|



The financial statements on pages 7 to 12 were approved by the Trustees on 29 December 2025 and were signed on their behalf by: 

Mr J Crilly Mrs R Barber **Trustee Trustee** 

The notes on pages 9 to 12 form an integral part of these financial statements. 

**Page 6** 



## **Crescent Valley Enterprises Ltd** 

## **Notes to the financial statements** 

## **Year ended 31 March 2025** 

## **1 Statement of compliance** 

The financial statements of Crescent Valley Enterprises Ltd have been prepared on the going concern basis in compliance with United Kingdom Accounting Standards, including Financial Reporting Standard 10, ‘’The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland’’ (‘’FRS 102’’) under the historical cost convention, and in accordance with applicable accounting  standards in the United Kingdom and Statement of Recommended Practice for Accounting and Reporting by Charities and with  the Charities Act 2011. 

## **2 Summary of significant accounting policies** 

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. 

## **Incoming resources** 

All incoming resources are included in the Statement of Financial Activities when the Trust is entitled to the income and the amount can be quantified with reasonable accuracy. 

## **Funds** 

Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which falls within the criteria laid down by the donor is identified with the fund, together with a fair allocation of support costs. 

Unrestricted funds are donations and other income received or generated for the objects of the Trust without further specific purpose and are available as general funds. 

## **Resources expended** 

Expenditure is recognised on the accruals basis as a liability is incurred. Costs of generating funds comprise the costs associated with attracting voluntary income. Charitable expenditure comprises those costs incurred by the Trust 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. 

## **Governance costs** 

Governance costs relate to the costs of governance arrangements which relate to the general running of the Trust as opposed to the direct management functions. These include the activities which allow the Trust to operate and generate the information required for public accountability, including the strategic planning process that contributes to the future development of the Trust. 

## **Tangible fixed assets** 

The cost of tangible fixed assets is their purchase cost, together with any incidental costs of acquisition.  Depreciation is calculated so as to write off the cost, or revaluation, of tangible fixed assets, less their estimated residual values, over the expected useful economic lives of the assets concerned.  The principal annual rates used are as follows: 

|Leasehold improvements|-|10% straight line basis|
|---|---|---|
|Office & sports equipment|-|10% straight line basis|
|Motor vehicles|-|25% straight line basis|



## **Foreign currencies** 

Transactions denominated in foreign currencies are translated at the exchange rate at the date of the transaction. All assets and liabilities denominated in foreign currency are translated at the rate of exchange ruling at the balance sheet date or the exchange rate of a related exchange contract where appropriate. The resulting gain or loss is taken to the Statement of Financial Activities. 

**Page 7** 



## **Crescent Valley Enterprises Ltd** 

## **Notes to the financial statements** 

## **Year ended 31 March 2025 (continued)** 

## **3 Cost of activities in furtherance of the objects of the charity** 

||**2025**|2024|
|---|---|---|
||**£**|£|
|Wages|**118,403**|124,170|
|Pension|**2,172**|2,070|
|Advertising|**1,632**|6,280|
|Coach expenses|**18,340**|13,010|
|Equipment and clothing|**21,143**|10,000|
|Facility hire|**11,679**|2,484|
|Football costs|**40,302**|32,221|
|Repairs and maintenance|**170**|2,836|
|Travel expenses|**-**|26,152|
||**213,841**|219,223|



## **4 Governance costs** 

|<br>**Governance costs**|||
|---|---|---|
||**2025**|2024|
||**£**|£|
|Accountancy|**225**|820|
|Bank fees and interest|**3,075**|557|
|Heat and light|**3,714**|3,118|
|Insurance|**6,057**|3,820|
|Subs and donations|**68**|887|
|Professional fees|**-**|2,683|
|Postage and stationery|**451**|154|
|Telephone|**1,588**|2,119|
|Training|**-**|301|
|Water rates|**483**|1,718|
|Depreciation|**3,067**|9,722|
||**18,726**|25,899|



**Page 8** 



## **Crescent Valley Enterprises Ltd** 

## **Notes to the financial statements** 

## **Year ended 31 March 2025 (continued)** 

## **5 Tangible fixed assets** 

|**5**<br>**Tangible fixed assets**|||||
|---|---|---|---|---|
||**Motor**|**Leasehold**|**Office and sports**||
||**vehicle**|**improvements**|**equipment**|**Total**|
||**£**|**£**|**£**|**£**|
|**Cost**|||||
|At 31 March 2024|3,850|21,825|73,857|99,532|
|Additions|-|-|-|-|
|**At 31 March 2025**|**3,850**|**21,825**|**73,857**|**99,532**|
|**Accumulated depreciation**|||||
|At 31 March 2024|3,849|9,414|70,122|83,385|
|Charge for the year|-|2,182|885|3,067|
|**At 31 March 2025**|**3,849**|**11,596**|**71,007**|**86,452**|
|**Net book value**|||||
|**At 31 March 2025**|**1**|**10,229**|**2,850**|**13,080**|
|At 31 March 2024|1|12,411|3,735|16,147|



## **6 Creditors: amounts falling due within one year** 

||**2025**|2024|
|---|---|---|
||**£**|£|
|Creditors and accruals|**1,175**|950|



## **7 Analysis of net assets between funds** 

|**7**<br>**Analysis of net assets between funds**||||
|---|---|---|---|
||**Unrestricted**|**Restricted**|**Total**|
||**funds**|**funds**|**Funds**|
||**£**|**£**|**£**|
|Fund balances at 31 March 2025 are represented by:||||
|Tangible fixed assets|13,080|-|**13,080**|
|Current assets|91,575|-|**91,575**|
|Current liabilities|(1,175)|-|**(1,175)**|
||**103,480**|**-**|**103,480**|



**Page 9**