Middletown Centre for Autism (Holdings) - Limited company accounts 20.1

REGISTERED NUMBER: NI050864 (Northern Ireland)

Report of the Directors and

Financial Statements for the Year Ended 30 June 2021

for

Middletown Centre for Autism (Holdings)

Limited

Page

Company Information

1

Report of the Directors

2

Report of the Independent Auditors

4

Income Statement

7

Balance Sheet

8

Notes to the Financial Statements

9

DIRECTORS:

M Delaney

P D S Irwin

D Mahon

Ms D Frost

SECRETARY:

Annsgate Limited c/o Arthur Cox N.I.

REGISTERED OFFICE:

Capital House

3 Upper Queen Street

Belfast

Co. Antrim

BT1 6PU

REGISTERED NUMBER:

NI050864 (Northern Ireland)

SENIOR STATUTORY AUDITOR:

James Robinson FCCA

AUDITORS:

WHR Accountants Ltd

Chartered Certified Accountants

Statutory Auditors

56 English Street

Armagh

Co. Armagh

BT61 7LG

BANKERS:

Bank of Ireland

11 Upper English Street

Armagh

Co. Armagh

BT61 7BH

SOLICITORS:

Arthur Cox Northern Ireland

Capital House

3 Upper Queen Street

Belfast

Co Antrim

BT1 6PU

United Kingdom

The directors present their report with the financial statements of the company for the year ended 30 June 2021.

PRINCIPAL ACTIVITY

The principal activity of the company in the year under review was that of a holding company, to hold, maintain and develop the company buildings and property located in Middletown, Co. Armagh, in the Island of Ireland, for the benefit of autistic services in the field of education.

The company is limited by guarantee not having a share capital.

RESEARCH AND DEVELOPMENT

The company did not undertake any research and development activities during the year.

FUTURE DEVELOPMENTS

The company plans to continue its present activities.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 July 2020 to the date of this report.

M Delaney

P D S Irwin

D Mahon

Ms D Frost

EVENTS DURING THE YEAR

During the current 2020/21 reporting year, Middletown Centre for Autism (Holdings) Ltd, the holding company, continued to own and hold the property and has had minimal financial activity.

Since April 2007 another company, Middletown Centre for Autism Ltd, which is an operational company, continues to use and maintain the property of the holding company and the assets under the 2007 Lease and Asset Transfer Agreement with the holding company.

Any work to buildings during the year is of no cost and is incurred by the operating company to whom buildings are leased.

CHARITABLE AND POLITICAL CONTRIBUTIONS

The company did not make any political donations during the year.

EVENTS SINCE THE END OF THE YEAR

Information relating to events since the end of the year is given in the notes to the financial statements.

LAND

There is no carrying value of Land in the financial statements due to the accounting treatment of the grant on purchase of same. In 2014, a valuation of land and buildings was obtained and the valuation of Land amounted to £170,000.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, WHR Accountants Ltd, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

M Delaney - Director

1 December 2021

Opinion

We have audited the financial statements of Middletown Centre for Autism (Holdings) Limited (the 'company') for the year ended 30 June 2021 which comprise the Income Statement, Balance Sheet and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 30 June 2021 and of its surplus for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Report of the Directors has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit; or

-	the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on pages two and three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

-the Company's own assessment of the risk that irregularities may occur either as a result of fraud or error;

-the results of our enquiries of management about their own identification and assessment of the risks of irregularities;

-any matters we identified having obtained and reviewed the Company's documentation of their policies and procedures relating to:

identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;

detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and

the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and

-the matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

In addition to the above, our procedures to respond to risks identified included the following:

-reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;

-enquiring of management, directors concerning actual and potential litigation and claims;

-performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;

-reading minutes of meeting of directors, reviewing internal audit reports and reviewing correspondence with HMRC; and

-in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments;

-assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and

-evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occuring due to fraud rather than error, as fraud involves intentional concealment,forgery,collusion,omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

James Robinson FCCA (Senior Statutory Auditor)

for and on behalf of WHR Accountants Ltd

Chartered Certified Accountants

Statutory Auditors

56 English Street

Armagh

Co. Armagh

BT61 7LG

1 December 2021

TURNOVER

8,872

5,532

Administrative expenses

29,005

28,118

(20,133

)

(22,586

)

Other operating income

22,625

OPERATING SURPLUS and

SURPLUS BEFORE TAXATION

2,492

39

Tax on surplus

-

SURPLUS FOR THE FINANCIAL YEAR

2,492

39

FIXED ASSETS

Tangible assets

6

746,624

769,249

CURRENT ASSETS

Cash at bank

127

97

CREDITORS

Amounts falling due within one year

7

8,270

10,732

NET CURRENT LIABILITIES

(8,143

)

(10,635

)

TOTAL ASSETS LESS CURRENT LIABILITIES

738,481

758,614

ACCRUALS AND DEFERRED INCOME

8

746,625

769,250

NET LIABILITIES

(8,144

)

(10,636

)

RESERVES

Income and expenditure account

(8,144

)

(10,636

)

(8,144

)

(10,636

)

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 1 December 2021 and were signed on its behalf by:

M Delaney - Director

P D S Irwin - Director

Ms D Frost - Director

D Mahon - Director

1.	GENERAL INFORMATION

Middletown Centre for Autism (Holdings) Ltd. is a company limited by guarantee incorporated in Northern Ireland. Capital House, 3 Upper Queen Street, Belfast, Co Antrim, BT1 6PU, United Kingdom is the registered office. The principal place of business of the company is Middletown Centre of Autism, 32 Church Street, Middletown, Co Armagh. The nature of the company's operations and its principal activities are set out in the Director's report. The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

2.	STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements of the company for the year ended 30 June 2020 have been prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland (FRS 102) issued by the Financial Reporting Council and in accordance with the Companies Act 2006.

3.	ACCOUNTING POLICIES

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.The following accounting policies have been applied consistency in dealing with terms which are considered material in relation to the company's financial statements.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates in arriving at the figures in the financial statements. The areas requiring a higher degree of judgement, or complexity, and areas where assumptions or estimates are most significant to the financial statements are disclosed below:

(i) Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are re-assessed annually. They are amended when necessary to reflect current estimates, based on economic utilisation and the physical condition of the assets. See note 6 for the carrying amount of fixed assets, and below for the useful economic lives of assets.

Recognition of income

Income is credited when received or when the ultimate amount receivable can be assessed with reasonable certainty.

The income of the company has been derived from funding received from the Department of Education, Northern Ireland and the Department of Education and skills, Republic of Ireland.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation adjusted for impairment. The charge to depreciate is calculated to write off the original cost less accumulated depreciation adjusted for impairment of tangible fixed assets, over their expected useful lives as follows:

Freehold buildings - 2.5% 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.

The buildings were impaired in the Year ended 30th June 2014. Post impairment, directors feel that a 40 year useful life is appropriate for Land and Buildings. Depreciation is charged in line with this and amortisation is based on the same period. Impairment of £660,547 is included in the depreciation brought forward figure.

Taxation

Current taxation represents the amount expected to be paid or recovered in respect of taxable income for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the balance sheet date.

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.

Recognition of expenses

Expenditure is recognised on an accrual basis as a liability incurred.

Government grants

Capital grants received and receivable are treated as deferred income and amortised to the income and expenditure account annually over the useful economic life of the asset to which it relates. Revenue grants are credited to the Income and Expenditure account when received.

The government grant in the accounts relates to a grant received to purchase the building. The building was impaired in the year ended 30th June 2014 and appropriate amortisation of the grant was undertaken in that year to agree with the impairment. The government grant is amortised over the expected useful life of the buildings, which is 40 years as determined by directors.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2020 - NIL).

5.	OPERATING SURPLUS

The operating surplus is stated after charging:

30.6.21

30.6.20

£

Depreciation - owned assets

22,625

6.	TANGIBLE FIXED ASSETS

Freehold

property

£

COST

At 1 July 2020

and 30 June 2021

2,095,328

DEPRECIATION

At 1 July 2020

1,326,079

Charge for year

22,625

At 30 June 2021

1,348,704

NET BOOK VALUE

At 30 June 2021

746,624

At 30 June 2020

769,249

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.21

30.6.20

£

Trade creditors

2,340

4,802

Accrued expenses

5,930

8,270

10,732

8.	ACCRUALS AND DEFERRED INCOME

30.6.21

30.6.20

£

Deferred government grants

1,924,000

Release Balance b/f

(1,154,750

)

(1,132,125

)

Credited in year

(22,625

)

(22,625

)

746,625

769,250

9.	RELATED PARTY DISCLOSURES

There were no related party transactions requiring disclosure in the year ended 30th June 2020.

10.	POST BALANCE SHEET EVENTS

There were no post balance sheet events which require disclosure.