COMPANY REGISTRATION NUMBER: NI031653
CHARITY REGISTRATION NUMBER: 108595
Altamuskin Community Association Limited
(Charitable Company Limited by Guarantee)
Annual Report and Financial Statements for the year ended
31 January 2023
Altamuskin Community Association Limited
Registered number: NI031653
Balance Sheet
as at 31 January 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 6 45,904 48,362
Current assets
Debtors 7 2,901 775
Cash at bank and in hand 9,600 10,909
12,501 11,684
Creditors: amounts falling due within one year 8 (5,906) (6,778)
Net current assets 6,595 4,906
Net assets 52,499 53,267
Funds of the charity
Unrestricted funds 9 52,499 53,267
Total charity funds 52,499 53,267
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
The notes on pages 9 to 13 form an integral part of the accounts.
Mr Michael Broderick
Director
Approved by the board on 31 August 2023
Altamuskin Community Association Limited
Notes to the Accounts
for the year ended 31 January 2023
1 Accounting policies
Basis of preparation
The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction values unless otherwise stated in the relevant notes to these accounts. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2015 Charities SORP (FRS 102), the Companies Act 2006 and the Charities Act 2011.

The currency used for the reporting of these financial statements is Sterling (£)
Income
All incoming resources are included in the statement of financial activities when the charitable company is entitled to the income and the amount can be quantified with reasonable accuracy.

Incoming resources includes all voluntary and fundraising income from charitable activities.

Voluntary income received by way of donations and gifts to the charity is included in full in the Statement of Financial Activities when receivable.

Fundraising income is credited to incoming resources when received. If the income relates to a particular event happening after the financial year end, it is deferred.

Other income from charitable activities includes rent from property held for charitable purposes. This income is applied for charitable purposes only and included in full in the Statement of Financial Activities when receivable.
Resources explained
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure excludes VAT, and is classified under the heading of 'expenditure on charitable activities'. This includes all costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

No judgements that management has made in the process of applying the entity's accounting policies have a significant effect on the amounts recognised in the financial statements.

No accounting estimates or assumptions have been made.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings 2% straight line
Plant and machinery etc 15% reducing balance
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
Altamuskin Community Association is a registered charity and, as such, is entitled to certain tax exemptions on income and profits from investments and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are applied solely for charitable purposes.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
No trustees have been paid any remuneration or received any other benefits from the charity.
No trustee expenses have been incurred.
3 Donations and legacies 2023 2022
£ £
Unrestricted funds
Donations 1,420 3,097
Grants income - -
1,420 3,097
Restricted funds
Donations - -
Grants income:
Painting stairs 1,500 -
Sanitising units - 1,000
Insurance - 1,000
Toilets at drive in cinema - 250
Christmas crib & summer seats - 1,083
1,500 3,333
Total income from other trading activities 2,920 6,430
4 Other trading activities 2023 2022
£ £
Unrestricted funds
Fundraising income 2,338 -
Rent received 12,236 5,987
14,574 5,987
Restricted funds - -
Total income from other trading activities 14,574 5,987
5 Expenditure on charitable activities by fund type 2023 2022
£ £
Unrestricted funds
Charitable activities: support costs 17,132 13,998
Accountancy fees 565 545
Independent examination services 565 545
18,262 15,088
Restricted funds
Christmas crib & summer seats - 1,083
Insurance - 1,000
Toilets at drive in cinema - 250
Painting stairs 1,500
- 3,833
Total resources expended 18,262 18,921
A grant of £1,500 was received from Omagh Forum in 2023 which was to be offset against the costs incurred for painting the stairs. This was a retrospective grant in that the charity were require to carry out the necessary repairs in advance of receiving the grant.
A grant of £1,000 was received from Fermanagh & Omagh District Council in 2022 regarding sanitising units purchased during 2020.
6 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2022 74,851 42,110 116,961
At 31 January 2023 74,851 42,110 116,961
Depreciation
At 1 February 2022 32,906 35,693 68,599
Charge for the year 1,495 963 2,458
At 31 January 2023 34,401 36,656 71,057
Net book value
At 31 January 2023 40,450 5,454 45,904
At 31 January 2022 41,945 6,417 48,362
7 Debtors 2023 2022
£ £
Trade debtors 1,691 -
VAT account 1,210 775
2,901 775
8 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 3,334 860
Other creditors 2,573 5,918
5,906 6,778
9 Analysis of charitable funds 2023 2022
£ £
Unrestricted funds
At 1 February 2022 53,267 59,771
Income/(Expenditure) (2,268) (6,504)
Transfers (to)/from funds 1,500 -
At 31 January 2023 52,499 53,267
Restricted funds
At 1 February 2022 - -
Income/(Expenditure) 1,500 -
Transfers (to)/from funds (1,500) -
At 31 January 2023 - -
10 Other information
Altamuskin Community Association Limited is a private company limited by guarantee without share capital and incorporated in Northern Ireland. Its registered office is:
173 Altamuskin Road
Sixmilecross
Co. Tyrone
BT79 9JA
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