Company registration number: 336503


Sligo Centre for Independent Living 

Company Limited by Guarantee

Financial statements
for the financial year ended 31 December 2017

 
 
 

Contents

 

 

Directors and other information                                                                                                                                                                                                                                                                                               
Directors report                                                                                                                                                                                                                                        
 
Directors responsibilities statement                                                                                                                                                                                                           
 
Independent auditor's report to the members                                                                                                                                                                                          
 
Profit and loss account                                                                                                                                                                                                                                 
 
Statement of income and retained earnings                                                                                                                                                                                             
 
Balance sheet                                                                                                                                                                                                                                              
 

Notes to the financial statements                                                                                                                                                                                                          

 

 


Directors and other information

 

Directors


   Rosaleen Doonan
   Christy Gallagher
 Eugene O'Brien
          Thomas Cunningham
                                            Kathya Rouse (Resigned 07th July 2017)
Patrick Fallon
    Brenda Donegan
  Arthur Gibbons
 
 
Secretary                                                                                                         Kathya Rouse (Resigned 07th July 2017)
                                                                                                                         Christy Gallagher (Appointed 07th July 2017)

 

Company number                                                                                           336503

 

Registered Office                                                                                            Unit 1-2
                                                                                                                          Business Centre 
                                                                                                                          Market Yard
                                                                                                                          Sligo
 
Business Address                                                                                           Unit 1 - 2 
                                                                                                                           Business Centre
                                                                                                                           Market Yard
                                                                                                                           Sligo
 
Auditor                                                                                                              Casey Kavanagh & Company 
                                                                                                                           44 John Street 
                                                                                                                            Sligo
 
Bankers                                                                                                             Ulster Bank
                                                                                                                           Stephen Street
                                                                                                                           Sligo.
 

 

Directors report

 
 

The directors present their annual report and the audited financial statements of the company for the financial year ended 31 December 2017


Directors

The names of the persons who at any time during the financial year were directors of the company are as
follows:
Rosaleen Doonan
Christy Gallagher
Eugene O'Brien
Thomas Cunningham
Kathya Rouse (Resigned 07th July 2017) Patrick Fallon
Brenda Donegan
Arthur Gibbons


Company Secretary

The company secretary was Kathya Rouse until she resigned on 7th July 2017.
She was then replaced by Christy Gallagher on that date.


Principal activities

The activities of the company are to provide services for disabled persons in the community, funded by HSE
and DSP Employment Grants.


Events after the end of the reporting period

There were no significant events since the balance sheet date.


Research and development

The company does not engage in research and development.


Accounting records

The measures taken by the directors to secure compliance with the requirements of sections 281 to 285 of the Companies Act 2014 with regard to the keeping of accounting records are the implementation of necessary policies and procedures for recording transactions, the employment of competent accounting personnel with appropriate expertise and the provision of adequate resources to the financial function. The accounting records of the company are located at Unit 1-2, Business Centre, Market Yard, Sligo.


Statement on relevant audit information

In the case of each of the persons who are directors at the time this report is approved in accordance with
section 332 of Companies Act 2014: * so far as each director is aware, there is no relevant audit information of which the company’s statutory
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 statutory
auditors are aware of that information


Auditors

In accordance with Section 383(2) of the Companies Act 2014, the auditors Casey Kavanagh & Company, Chartered Accountants and Registered Auditors, will continue in office.

This report was approved by the board of directors on 31 October 2018, and signed on behalf of the board by:
 


Rosaleen Doonan                                                          Christy Gallagher 
Director                                                                           Director

 


Directors responsibilities statement

 

The directors are responsible for preparing the directors report and the financial statements in accordance with applicable Irish law and regulations.

Irish Company law requires the directors to prepare financial statements for each financial year. Under the law, the directors have elected to prepare the financial statements in accordance with the Companies Act 2014 and FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" issued by the Financial Reporting Council. | 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 assets, liabilities and financial position of the company as at the financial year end date and of the profit or loss of the company for the financial year and otherwise comply with the Companies Act 2014.

In preparing these financial statements, the directors are required to:
• select suitable accounting policies and then apply them consistently;
• make judgments and accounting estimates that are reasonable and prudent;
state whether the financial statements have been prepared in accordance with applicable accounting standards, identify those standards, and note the effect and the reasons for any material departure from those standards; and
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 ensuring that the company keeps or causes to be kept adequate accounting records which correctly explain and record the transactions of the company, enable at any time the assets, liabilities, financial position and profit or loss of the company to be determined with reasonable accuracy, enable them to ensure that the financial statements and directors report comply with the Companies Act 2014 and enable the financial statements to be audited. 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.
The directors are responsible for the maintenance and integrity of the corporate and financial information
included on the company's website. Legislation in the Ireland governing the preparation and ‘dissemination of financial statements may differ from legislation in other jurisdictions.


Report on the audit of the financial statements

Opinion

 
We have audited the financial statements of Sligo Centre for Independent Living for the year ended 31st December 2017 which comprise the Profit and Loss Account, Statement of Income and Retained Earnings, the Balance Sheet, and the related notes on pages 12 - 17, including the summary of significant accounting policies set out in note 2. The financial reporting framework that has been applied in their preparation is Irish Law and FRS 102 The financial reporting standard applicable in the UK and Republic of Ireland.

In our opinion the financial statements:
- give a true and fair view of the assets, liabilities and financial position of the company as at 31st December
2017 and of its profit for the year then ended;
- have been properly prepared in accordance with FRS 102 The Financial Reporting Standard applicable in
the UK and Republic of Ireland; applying Section 1A of that Standard; and 
- have been properly prepared in accordance with the requirements of the companies Act 2014.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (Ireland) (ISAs (Ireland)) and applicable law. Our responsibilities under those standards are described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with ethical requirements that are relevant to our audit of financial statements in Ireland, including the Ethical Standard for Auditors (Ireland) issued by the Irish Auditing and Accounting Supervisory Authority (IAASA), and the Provisions Available for Audits of Small Entities, in the circumstances set out in note 12 to the financial statements,, and we have fulfilled our other ethical responsibilities in accordance with these requirements. Services provided are preparation of financial statements.

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

We have nothing to report in respect of the following matters in relation to which ISAs (Ireland) require us to
report to you where:
- the directors’ use of the going concern basis of accounting in the preparation of the financial statements is
not appropriate: or
• the directors have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the Company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.



Other information


The directors are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor's report 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 there is a material misstatement in the financial statements or a material misstatement of the other information. 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 2014


Based solely on the work undertaken in the course of the audit, we report that: ;
- in our opinion, the information given in the directors’ report is consistent with the financial statements; and
• in our opinion, the directors' report has been prepared in accordance with the Companies Act 2014
• We have obtained all the information and explanations which we consider necessary for the purposes of our audit

• In our opinion the accounting records of the Company were sufficient to permit the financial statements to be readily and properly audited, and financial statements are in agreement with the accounting records.


Matters on which we are required to report by exception


Based on the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified any material misstatements in the directors’ report.

The Companies Act 2014 requires us to report to you if, in our opinion, the disclosures of directors' remuneration and transactions required by sections 305 to 312 of the Act are not made. We have nothing to report in this regard.

 

Respective responsibilities


Responsibilities of directors for the financial statements


As explained more fully in the directors’ responsibilities statement set on page 4, 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 they determine is 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 management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.


Auditor's 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 an auditor's report 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 (Ireland) 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.

Further details relating to our work as auditor is set out in the Scope of Responsibilities Statement contained in the appendix of this report  which is to be read as an integral part of our report.


The purpose of our audit work and to whom we owe our responsibilities


Our report is made solely to the Company's members, as a body, in accordance with section 391 of the Companies Act 2014. 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 an auditor's report 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.

 

Joseph Casey
For and on behalf of

Casey Kavanagh & Company

Chartered Accountant and Statutory Auditor Firm
44 John Street

Sligo                                                                                                    Date: 31st October 2018

APPENDIX

Further information regarding the scope of our responsibilities as auditor


As part of an audit in accordance with ISAs (Ireland), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
"Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery,intentionalomissions,misrepresentations, or the override of internal control.

" Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are _appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
" Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors.

" Conclude on the appropriateness of the director's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as going concerns. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as going concerns.

" Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
" We communicate with those charged with governance regarding, among other matters, the planned scope
and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
 
 


Profit and loss account

Financial year ended 31 December 2017

                                                                                                                                                                            2017       2016

                                                                                                                    Note                                                                                    

                                                                                                                                                                                 €               € 

 Turnover                                                                                                                                                                                                                        1,408,607                    1,266,399

Gross Profit                                                                                                                                                                             1,408,607                1,266,399                                                                                                                                                                                                                                                                    

Administrative expenses                                                                                                                                                     (1,290,638)              (1,234,216)
Operating Surplus                                                                                                 4                                                                  117,969                      32,183
Other interest receivable and similar income                                                                                                                                  17                            23
Surplus for the financial year before taxation                                                                                                                         117,986                     32,206                               

Tax on surplus                                                                                                        6                                                                            0                               0

Surplus for the financial year                                                                                                                                                   1 17,986                      32,206
 
The company has no other recognised items of income and expenses other than the results for the financial
year as set out above.

 





Statement of income and retained earnings

Financial year ended 31 December 2017

 

                                                                                                                                                                                    2017       2018

                                                                                                                                                                                          €            €


Surplus for the financial year                                                                                                                                                            117,986       32,206

Retained earnings at the start of the financial year                                                                                                                         210,211      178,005

Retained earnings at the end of the financial year                                                                                                                         328,197        210,211
 

 




Balance sheet
As at 31 December 2017

 

                                                                                                                            2017                               2016

                                                                                                 Note                   €                     €                  €                  € 

 
Fixed assets
Tangible assets                                                                                                    8       11,569                                                18,693
 
                                                                                                                                                                      11,569                                  18,693

Current assets

Debtors                                                                                                                 9     129,101                                                  57,071
Cash at bank and in hand                                                                                          280,928                                                183,887
                                                                                                                                      410,029                                                240,958
 

Creditors:       amounts falling due within one year                                            10        (93,401)                                               (49,440) 

 
Net current assets                                                                                                                                     316,628                                     191,518                                                                                                                     
Total assets less current liabilities                                                                                                           328,197                                    210,211
 
Net assets                                                                                                                                                   328,197                                    210,211
 
Capital and reserves

Income and expenditure account                                                                                                              328,197                                    210,211 
 
Members funds                                                                                                                                            328,197                                  210,211


These financial statements have been prepared in accordance with the Samll Companies Regime

These financial statements were approved by the board of directors on 31 October 2018 and signed on
behalf of the board by:
 
 
 

Rosaleen Doonan                                                                                           Christy Gallagher

Director                                                                                                             Director