The trustees present their annual report and financial statements for the year ended 30 June 2024.
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 charitable company's Articles of Association, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2019).
The objectives of the charitable company are set out in the Articles of Association of Ballymacanallen Community Association Ltd.
The objectives are to carry on activities which benefit the community and in particular (without limitation) to own and manage a community building and provide community services.
The charitable company provides the use of the community hall and facilities to local groups. By organising events in the hall such as cultural evenings, educational talks and seminars, coffee mornings, dancing lessons and many other community activities aimed at local wellbeing.
The trustees have paid due regard to guidance issued by the Charity Commission for Northern Ireland in deciding what activities the charitable company should undertake.
During the year the charitable company received funding from the Armagh City, Banbridge and Craigavon Borough Council, as well as other donations.
The most outstanding achievement this year was that the charitable company provided on 119 occasions use of the hall to run Pilates classes for Women in the surrounding area. This was to help with their general health and wellbeing, and to meet together regularly. These classes have proved to be very popular since they started, with numbers in attendance increasing. The classes run on Mondays, Tuesdays and Wednesdays. Two sessions run on Tuesday and Wednesday, one in the morning and one in the afternoon. There are very good facilities at the hall to accommodate this type of venture.
Other community-based activities continued in the hall during the year. There were six drumming competitions held throughout the year, on Saturdays, with various Drumming Associations involved. These competitions were for both seniors and juniors. They proved very popular with upwards of 90 adults & children in attendance. There were also 6 refresher drumming classes during the year with each class lasting approximately 2 hours.
On Thursday mornings during term time, the charitable company was able to accommodate a parent and baby toddler group for preschool children.
The hall continues to be used for various other occasions such as private functions, meetings, social gatherings and other activities all aimed at promoting general wellbeing within the community.
The charitable company is performing well and is thankful to its members for the effort they have put in, allowing it to continue to provide a safe, warm and welcoming environment for those who attend functions and events in the hall.
The charitable company's financial results are set out in detail on pages 5-15.
There is an overall deficit for the year of £20,439 (2023 - £731 deficit). Accumulated funds consist of unrestricted funds of £83,370 and restricted funds of £149,937.
Reserves
Due to the nature of the charity's activities, the trustees consider it appropriate to maintain free reserves sufficient to maintain on-going running costs to cover a twelve month period. The trustees consider a level of £15,000 to be appropriate.
The charitable company is a company limited by guarantee, governed by its Articles of Association dated 1 June 2018 and revised 10 August 2021. The charitable company is controlled by its trustees who are directors of the company for the purposes of the Companies Act 2006.
The charitable company was registered with the Charity Commission for Northern Ireland on 18 October 2021.
The trustees who served during the year and up to the date of signature of the financial statements were:
Under the requirement of the Articles of Association, trustees can be appointed by ordinary resolution or by a decision of the serving trustees.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The day to day running of the charitable company is overseen by the trustees.
In preparing this report, the trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
Registered Office:
30a Hunters Hill
Gilford
Craigavon
Co Armagh
BT63 6AL
Company Registration No: NI653421
Charity Registration No: NIC108034
The trustees' report was approved by the Board of Trustees.
I report to the trustees on my examination of the financial statements of Ballymacanallen Community Association Ltd (the charitable company) for the year ended 30 June 2024.
As the trustees of the charitable company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
It is my responsibility to:
examine the financial statements under section 65 of the Charities Act (Northern Ireland) 2008;
follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Act; and
state whether particular matters have come to my attention.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
accounting records were not kept in respect of the charitable company as required by section 130 of the 2011 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Independent examiners statement
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
Gillian Johnston ACA
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
Ballymacanallen Community Association Ltd is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 30a Hunters Hill, Gilford, Craigavon, Co Armagh, BT62 3PB.
The financial statements have been prepared in accordance with the charitable company's Articles of Association, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charitable company is a Public Benefit Entity as defined by FRS 102.
The charitable company has taken advantage of the provisions in the SORP for charities applying FRS102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling, which is the functional currency of the charitable company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charitable company has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charitable company has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Donations in kind are recognised as income when the charitable company has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charitable company of the item is probable and that economic benefit can be measured reliably. On receipt, donated facilities are recognised on the basis of the value of the gift to the charitable company which is the amount the charitable company would have been willing to pay to obtain facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity.
(i) Charitable activities
This comprises all the resources applied by the charitable company in undertaking its work to meet its charitable objectives.
(ii) Governance costs
Governance costs include the costs of governance arrangements which relate to the general running of the charitable company.
Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with use of the resource.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charitable company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charitable company's balance sheet when the charitable company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charitable company’s contractual obligations expire or are discharged or cancelled.
In the application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
The annual depreciation charge on fixed assets depends primarily on the estimated lives of each type of asset and estimates of residual values. The trustees regularly review these asset lives and change them as necessary to reflect current thinking on remaining lives in light of prospective economic utilisation and physical condition of the assets concerned. Changes in asset lives can have a significant impact on depreciation and amortisation charges for the period. Detail of the useful lives is included in the accounting policies.
Other grants received
The hall that the charitable company uses for its charitable activities is owned by a third party, and no rent is charged to the charity for its use. As the trustees have been unable to measure the value of the provision of the hall facility, this in-kind donation has not been recognised in these financial statements.
Events income
On 29 March 2022 Ballymacanallen Community Association, an unincorporated entity, transferred fixed assets of £47,914, bank balances of £22,168 and a debtor balance of £32,564 to the charitable company for £nil consideration. The debtor balance transferred related to Ballymacanallen Community Association Ltd, thereby cancelling out indebtedness previously recognised in the financial statements of the company. A further amount of £6,500 was released relating to the transfer of the unincorporated entity in the year ended 30 June 2023.
Repairs
General expenses
Water rates
Heat and light
Excursion expense
Office stationery
Donation
Insurance
Coronation event
Bank charges
Accountancy
The average monthly number of employees during the year was:
An amount of £454 was transferred from restricted funds to unrestricted funds to reflect the release of funds where the restriction no longer applies.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The restricted funds of the charitable company pertain to grants received for expenditure in relation to fixed assets.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
There were no disclosable related party transactions during the year (2023 - none).