BrightAccountsProduction v1.0.0 v1.0.0 2024-01-01 The company was not dormant during the period The company was trading for the entire period Unaudited Accounts The principal activity of the company is the letting out of commercial and residential property during the year. These properties are situated at the playing fields and Church Street, Ballygawley. The company, which is limited by guarantee, is  a not for profit organisation. 9 April 2025 0 0 NI037171 2024-12-31 NI037171 2023-12-31 NI037171 2022-12-31 NI037171 2024-01-01 2024-12-31 NI037171 2023-01-01 2023-12-31 NI037171 uk-bus:CompanyLimitedByGuarantee 2024-01-01 2024-12-31 NI037171 uk-curr:PoundSterling 2024-01-01 2024-12-31 NI037171 uk-bus:SmallCompaniesRegimeForAccounts 2024-01-01 2024-12-31 NI037171 uk-bus:FullAccounts 2024-01-01 2024-12-31 NI037171 uk-bus:Director1 2024-01-01 2024-12-31 NI037171 uk-bus:Director2 2024-01-01 2024-12-31 NI037171 uk-bus:Director3 2024-01-01 2024-12-31 NI037171 uk-bus:Director4 2024-01-01 2024-12-31 NI037171 uk-bus:Director5 2024-01-01 2024-12-31 NI037171 uk-bus:Director6 2024-01-01 2024-12-31 NI037171 uk-bus:Director7 2024-01-01 2024-12-31 NI037171 uk-bus:CompanySecretary1 2024-01-01 2024-12-31 NI037171 uk-bus:RegisteredOffice 2024-01-01 2024-12-31 NI037171 uk-bus:Agent1 2024-01-01 2024-12-31 NI037171 uk-core:RetainedEarningsAccumulatedLosses 2024-12-31 NI037171 uk-core:RetainedEarningsAccumulatedLosses 2023-12-31 NI037171 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2024-12-31 NI037171 uk-core:TotalEquityAttributableToOwnersParentBeforeNon-controllingInterests 2023-12-31 NI037171 uk-bus:FRS102 2024-01-01 2024-12-31 NI037171 uk-core:LandBuildings 2024-01-01 2024-12-31 NI037171 uk-core:FurnitureFittingsToolsEquipment 2024-01-01 2024-12-31 NI037171 uk-core:CurrentFinancialInstruments 2024-12-31 NI037171 uk-core:CurrentFinancialInstruments 2023-12-31 NI037171 uk-core:WithinOneYear 2024-12-31 NI037171 uk-core:WithinOneYear 2023-12-31 NI037171 2024-01-01 2024-12-31 NI037171 uk-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 xbrli:pure iso4217:GBP xbrli:shares
 
 
 
 
 
 
 
Company Registration Number: NI037171
 
 
Ballygawley Area Development Association Limited
(A company limited by guarantee, not having a share capital)
 
Unaudited Financial Statements
 
for the financial year ended 31 December 2024



Ballygawley Area Development Association Limited
(A company limited by guarantee, not having a share capital)
DIRECTORS AND OTHER INFORMATION

 
Directors Mr Paul M Hamill
Isobel Coote
Mr James Tallon
Mr Peter A McGonnell
Mr Barry Keys
Mrs Una Brigid McKenna
Mrs Sharon Margaret McAleer
 
 
Company Secretary Maureen T McKeever
 
 
Company Registration Number NI037171
 
 
Registered Office and Business Address 12A Church Street
Ballygawley
Tyrone
BT70 2JW
Northern Ireland
 
 
Accountants Cooper Irvine Ltd
Chartered Accountants
103 Main Street
Fivemiletown
Co Tyrone
BT75 0PG
Northern Ireland
 
 
Bankers Danske Bank Ltd
  62 Bow Street
  Lisburn
  Co Antrim
 
   
Solicitors John Hoy, Son & Murphy
  William Street
  Dungannon
  BT70 1DX



Ballygawley Area Development Association Limited
(A company limited by guarantee, not having a share capital)
Company Registration Number: NI037171
STATEMENT OF FINANCIAL POSITION
as at 31 December 2024

2024 2023
Notes £ £
 
Non-Current Assets
Property, plant and equipment 4 825,848 825,890
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Current Assets
Debtors 5 1,250 3,303
Cash and cash equivalents 143,741 131,892
───────── ─────────
144,991 135,195
───────── ─────────
Creditors: amounts falling due within one year 6 (33,173) (32,304)
───────── ─────────
Net Current Assets 111,818 102,891
───────── ─────────
Total Assets less Current Liabilities 937,666 928,781
 
Government grants 7 (27,064) (54,133)
───────── ─────────
Net Assets 910,602 874,648
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Reserves
Retained surplus 910,602 874,648
───────── ─────────
Equity attributable to owners of the company 910,602 874,648
═════════ ═════════
 
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).
           
The company has taken advantage of the exemption under section 444 not to file the Income Statement and Directors' Report.
           
For the financial year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
           
The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.
           
The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.
           
Approved by the Board and authorised for issue on 9 April 2025 and signed on its behalf by
           
           
________________________________     ________________________________
Mr Paul M Hamill     Isobel Coote
Director     Director
           



Ballygawley Area Development Association Limited
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 December 2024

   
1. General Information
 
Ballygawley Area Development Association Limited is a company limited by guarantee incorporated in Northern Ireland. 12A Church Street, Ballygawley, Tyrone, BT70 2JW, Northern Ireland is the registered office, which is also the principal place of business of the company. The nature of the company’s operations and its principal activities are set out in the Directors' Report. The financial statements have been presented in Pound (£) which is also the functional currency of the company.
         
2. Summary of Significant Accounting Policies
 
The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.
 
Statement of compliance
The financial statements of the company for the year ended 31 December 2024 have been prepared in accordance with the provisions of FRS 102 Section 1A (Small Entities) and the Companies Act 2006.
 
Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.
 
Turnover
Turnover represents the total invoice value, excluding value added tax, of rental income made during the year.
 
Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:
 
  Land and Buildings Freehold - 1% Straight line
  Fixtures, fittings and equipment - 25% Straight Line
 
The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.
 
Investment properties
Investment property is property held either to earn rental income, or for capital appreciation (including future re-development) or for both, but not for sale in the ordinary course of business. Investment property is initially measured at cost, which includes the purchase cost and any directly attributable expenditure. Investment property is subsequently valued at its fair value at each reporting date, by professional external valuers. The difference between the fair value of an investment property at the reporting date and its carrying value prior to the valuation is recognised in the Income Statement as a fair value gain or loss. Any gain or loss on disposal of an investment property (calculated as the difference between the net proceeds from disposal and the carrying amount of the item) is recognised in the Income Statement.
 
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
 
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
 
Taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Statement of Financial Position date.
 
Government grants
Capital grants received and receivable are treated as deferred income and amortised to the Income Statement annually as set out by the terms of the grant over 25 years. Revenue grants are credited to the Income Statement when received.
       
3. Employees
 
The average monthly number of employees, including directors, during the financial year was 0.00|0, (2023 - 0).
           
4. Property, plant and equipment
  Land and Investment Fixtures, Total
  Buildings properties fittings and  
  Freehold   equipment  
  £ £ £ £
Cost or Valuation
At 1 January 2024 2,100 824,000 10,786 836,886
  ───────── ───────── ───────── ─────────
 
At 31 December 2024 2,100 824,000 10,786 836,886
  ───────── ───────── ───────── ─────────
Depreciation
At 1 January 2024 210 - 10,786 10,996
Charge for the financial year 42 - - 42
  ───────── ───────── ───────── ─────────
At 31 December 2024 252 - 10,786 11,038
  ───────── ───────── ───────── ─────────
Net book value
At 31 December 2024 1,848 824,000 - 825,848
  ═════════ ═════════ ═════════ ═════════
At 31 December 2023 1,890 824,000 - 825,890
  ═════════ ═════════ ═════════ ═════════
       
5. Debtors 2024 2023
  £ £
 
Trade debtors 1,250 3,090
Taxation - 213
  ───────── ─────────
  1,250 3,303
  ═════════ ═════════
       
6. Creditors 2024 2023
Amounts falling due within one year £ £
 
Payments received on account 1,510 1,450
Trade creditors 1,209 904
Taxation 2,375 2,091
Other creditors 220 -
Accruals and deferred income 27,859 27,859
  ───────── ─────────
  33,173 32,304
  ═════════ ═════════
       
7. Government Grants Deferred 2024 2023
  £ £
 
Capital grants received and receivable
At 1 January 2024 297,754 297,754
  ───────── ─────────
Amortisation
At 1 January 2024 (243,621) (216,552)
Amortised in financial year (27,069) (27,069)
  ───────── ─────────
 
At 31 December 2024 (270,690) (243,621)
  ───────── ─────────
Net book value
At 31 December 2024 27,064 54,133
  ═════════ ═════════
At 1 January 2024 54,133 81,202
  ═════════ ═════════