Company registration number:
NI054732
MID-ARMAGH COMMUNITY NETWORK
Company limited by guarantee
Unaudited filleted financial statements
31 March 2024
MID-ARMAGH COMMUNITY NETWORK
Company limited by guarantee
Contents
Statement of financial position
Notes to the financial statements
MID-ARMAGH COMMUNITY NETWORK
Company limited by guarantee
Statement of financial position
31 March 2024
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2024 |
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2023 |
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Note |
£ |
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£ |
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£ |
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£ |
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Fixed assets |
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Tangible assets |
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5 |
- |
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149 |
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_______ |
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_______ |
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- |
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149 |
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Current assets |
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Cash at bank and in hand |
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34,954 |
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35,832 |
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_______ |
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_______ |
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34,954 |
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35,832 |
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Creditors: amounts falling due |
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within one year |
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7 |
- |
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(
5,640) |
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_______ |
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_______ |
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Net current assets |
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34,954 |
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30,192 |
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_______ |
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_______ |
Total assets less current liabilities |
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34,954 |
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30,341 |
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_______ |
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_______ |
Net assets |
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34,954 |
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30,341 |
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_______ |
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_______ |
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Capital and reserves |
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Profit and loss account |
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34,954 |
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30,341 |
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_______ |
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_______ |
Members funds |
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34,954 |
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30,341 |
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_______ |
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_______ |
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For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
23 August 2024
, and are signed on behalf of the board by:
C Clarke
Director
Company registration number:
NI054732
MID-ARMAGH COMMUNITY NETWORK
Company limited by guarantee
Notes to the financial statements
Year ended 31 March 2024
1.
General information
The company is a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is 32 Main Street, Markethill, Co. Armagh, BT60 1PL.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered and any grants received.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Fittings, fixtures and equipment |
- |
20 % |
straight line |
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If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
4.
Limited by guarantee
The company is registered as a company limited by guarantee not having a share capital. Each of the members undertakes to contribute on a winding up, for payments of debts and liabilities, such amount as may be required not exceeding £1.
5.
Tangible assets
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Property alterations |
Fixtures, fittings and equipment |
Total |
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£ |
£ |
£ |
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Cost |
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At 1 April 2023 |
- |
8,324 |
8,324 |
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Additions |
5,524 |
- |
5,524 |
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Other movements |
(
5,524) |
- |
(
5,524) |
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_______ |
_______ |
_______ |
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At 31 March 2024 |
- |
8,324 |
8,324 |
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_______ |
_______ |
_______ |
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Depreciation |
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At 1 April 2023 |
- |
8,175 |
8,175 |
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Charge for the year |
- |
149 |
149 |
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_______ |
_______ |
_______ |
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At 31 March 2024 |
- |
8,324 |
8,324 |
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_______ |
_______ |
_______ |
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Carrying amount |
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At 31 March 2024 |
- |
- |
- |
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_______ |
_______ |
_______ |
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At 31 March 2023 |
- |
149 |
149 |
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_______ |
_______ |
_______ |
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6.
Cash at bank and in hand
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2024 |
2023 |
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£ |
£ |
No1 - General Account |
9,464 11,219 |
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No 5 - Fiddlesticks Account |
92 242 |
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No 7 - Programme Account |
16,492 15,465 |
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No 9 - Hall Repair Account |
8,906 8,906 |
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_______ |
_______ |
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34,954 |
35,832 |
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_______ |
_______ |
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7.
Creditors: amounts falling due within one year
|
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|
2024 |
2023 |
|
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£ |
£ |
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Other creditors |
|
- |
5,640 |
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_______ |
_______ |
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