KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Company limited by guarantee

Company Registration Number:
NI653106 (Northern Ireland)

Unaudited statutory accounts for the year ended 31 May 2024

Period of accounts

Start date: 1 June 2023

End date: 31 May 2024

KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Contents of the Financial Statements

for the Period Ended 31 May 2024

Directors report
Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Directors' report period ended 31 May 2024

The directors present their report with the financial statements of the company for the period ended 31 May 2024

Principal activities of the company

The company's principal activity during the year was that of the maintenance and delivery of a Community Hub and Visitor Centre.



Directors

The directors shown below have held office during the whole of the period from
1 June 2023 to 31 May 2024

Stanley Gamble
Helen Carinduff
Richard Cooper


The above report has been prepared in accordance with the special provisions in part 15 of the Companies Act 2006

This report was approved by the board of directors on
17 February 2025

And signed on behalf of the board by:
Name: Stanley Gamble
Status: Director

KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Profit And Loss Account

for the Period Ended 31 May 2024

2024 2023


£

£
Turnover: 1,287 977
Cost of sales: ( 1,738 ) ( 1,330 )
Gross profit(or loss): (451) (353)
Administrative expenses: ( 22,469 ) ( 26,534 )
Other operating income: 22,920 26,887
Operating profit(or loss): 0 0
Profit(or loss) before tax: 0 0
Profit(or loss) for the financial year: 0 0

KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Balance sheet

As at 31 May 2024

Notes 2024 2023


£

£
Fixed assets
Tangible assets: 3 459,931 438,808
Total fixed assets: 459,931 438,808
Current assets
Cash at bank and in hand: 63,342 102,876
Total current assets: 63,342 102,876
Creditors: amounts falling due within one year: 4 ( 59,817 ) ( 57,466 )
Net current assets (liabilities): 3,525 45,410
Total assets less current liabilities: 463,456 484,218
Creditors: amounts falling due after more than one year: 5 ( 442,138 ) ( 462,900 )
Total net assets (liabilities): 21,318 21,318
Members' funds
Profit and loss account: 21,318 21,318
Total members' funds: 21,318 21,318

The notes form part of these financial statements

KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Balance sheet statements

For the year ending 31 May 2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 17 February 2025
and signed on behalf of the board by:

Name: Stanley Gamble
Status: Director

The notes form part of these financial statements

KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Tangible fixed assets depreciation policy

    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: Freehold buildings over 50 years Leasehold land and buildings over the lease term Plant and machinery over 5 years and 10 years Fixtures, fittings, tools and equipment over 5 years and 10 years

    Other accounting policies

    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 - A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted. Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Foreign currency translation - Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2024

  • 2. Employees

    2024 2023
    Average number of employees during the period 0 0

KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2024

3. Tangible assets

Land & buildings Plant & machinery Fixtures & fittings Office equipment Motor vehicles Total
Cost £ £ £ £ £ £
At 1 June 2023 407,919 40,964 448,883
Additions 24,240 1,088 25,328
Disposals
Revaluations
Transfers
At 31 May 2024 432,159 42,052 474,211
Depreciation
At 1 June 2023 10,075 10,075
Charge for year 4,205 4,205
On disposals
Other adjustments
At 31 May 2024 14,280 14,280
Net book value
At 31 May 2024 432,159 27,772 459,931
At 31 May 2023 407,919 30,889 438,808

KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2024

4. Creditors: amounts falling due within one year note

2024 2023
£ £
Trade creditors 2,262
Other creditors 57,555 57,466
Total 59,817 57,466

KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Notes to the Financial Statements

for the Period Ended 31 May 2024

5. Creditors: amounts falling due after more than one year note

2024 2023
£ £
Other creditors 442,138 462,900
Total 442,138 462,900

COMMUNITY INTEREST ANNUAL REPORT

KILLINCHY PARISH COMMUNITY INTEREST COMPANY

Company Number: NI653106 (Northern Ireland)

Year Ending: 31 May 2024

Company activities and impact

The company continues to run and maintain The Livingston Centre in the village of Killinchy for the benefit of the community. The exhibition space and the social space have been enhanced and improved allowing the community to make full use of the facilities.

Consultation with stakeholders

Consultation has taken place with individuals and groups who make regular use of the Livingston Centre. This has informed decision making.

Directors' remuneration

No remuneration was received

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
17 February 2025

And signed on behalf of the board by:
Name: Stanley Gamble
Status: Director