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 2024
Altamuskin Community Association Limited
Registered number: NI031653
Balance Sheet
as at 31 January 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 6 43,590 45,904
Current assets
Debtors 7 1,484 2,901
Cash at bank and in hand 9,771 9,602
11,255 12,503
Creditors: amounts falling due within one year 8 (1,715) (5,907)
Net current assets 9,540 6,596
Net assets 53,131 52,500
Funds of the charity
Unrestricted funds 9 53,131 52,500
Total charity funds 53,131 52,500
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 12 form an integral part of the financial statements.
Mark Mullin
Director
Approved by the board on 17 October 2024
Altamuskin Community Association Limited
Notes to the Accounts
for the year ended 31 January 2024
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 2024 2023
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 2024 2023
£ £
Unrestricted funds
Donations 3,387 1,420
3,387 1,420
Restricted funds - -
Total income from other trading activities 3,387 1,420
4 Other trading activities 2024 2023
£ £
Unrestricted funds
Fundraising income 8,980 2,338
Gym membership 3,720 5,400
Rent received 8,390 6,836
21,090 14,574
Restricted funds - -
Total income from other trading activities 21,090 14,574
5 Expenditure on charitable activities by fund type 2024 2023
£ £
Unrestricted funds
Charitable activities: support costs 22,311 15,631
Accountancy fees 768 565
Independent examination services 768 565
23,846 16,761
Restricted funds
- -
Total resources expended 23,846 16,761
6 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 February 2023 74,851 42,110 116,961
At 31 January 2024 74,851 42,110 116,961
Depreciation
At 1 February 2023 34,401 36,656 71,057
Charge for the year 1,495 819 2,314
At 31 January 2024 35,896 37,475 73,371
Net book value
At 31 January 2024 38,955 4,635 43,590
At 31 January 2023 40,450 5,454 45,904
7 Debtors 2024 2023
£ £
Trade debtors - 1,691
VAT account 1,484 1,210
1,484 2,901
8 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 1,072 3,334
Other creditors 644 2,573
1,715 5,907
9 Analysis of charitable funds 2024 2023
£ £
Unrestricted funds
At 1 February 2023 52,500 53,267
Income/(Expenditure) 631 (2,267)
Transfers (to)/from funds - 1,500
At 31 January 2024 53,131 52,500
Restricted funds
At 1 February 2023 - -
Income/(Expenditure) - 1,500
Transfers (to)/from funds - (1,500)
At 31 January 2024 - -
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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