| Contents | Page | |||
|---|---|---|---|---|
| Trustees'/Directors' | Annual Report |
3-8 | ||
| Independent | Examiner's | Report | ||
| Statement of |
Financial | Activities | 10 | |
| Balance Sheet | ||||
| Notes to Financial | Statements | 12 - 19. |
| Unrestricted | Restricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|
| Fund | Fund | Funds | Funds | |||||
| Notes | 2021 | 2021 | 2021 | 2020 | ||||
| (as restated) | ||||||||
| Incoming resources | E | E | E | |||||
| Grants | 14,029 | 14,029 | 6,535 | |||||
| Rent receivable | 105,616 | 105,616 | 72,250 | |||||
| Irish government grant |
||||||||
| Emigrant Support Programme |
45,682 | |||||||
| From charitable activities |
||||||||
| Fund raising | ||||||||
| Total incoming resources |
119,645 | 119,645 | 124,467 | |||||
| Resources expended | ||||||||
| Charitable activities |
4 | 4,511 | 3,389 | 7,900 | 53,287 | |||
| Governance cost |
4 | 2,468 | 110,478 | 112,946 | 214,986 | |||
| Total resources expended | 6,979 | 113,867 | 120,846 | 268,273 | ||||
| Net (expenditure)/income | for the period | 112,666 | (113,867) | (1,201) | (143,806) | |||
| Net (outgoing)/incoming | resources | |||||||
| before other recognised | gains/(losses) | 112,666 | (113,867) | (1,201) | (143,806) | |||
| Other recognised gains/(losses) |
||||||||
| Provision for bad debt from subsidiary | (34,553) | 0 | (34,553) | (216,461) | ||||
| Surplus on Revaluation | 83,102 | 83,102 | 0 | |||||
| Net movement in fund |
78,113 | (30,765) | 47,348 | (360,267) | ||||
| Reconciliation offunds |
||||||||
| Total funds brought forward |
as previously | 163261 | 328,459 | 491,720 | 851,987 | |||
| Prior year adjustment | 154,903 | 154,903 | 154,903 | |||||
| Total funds brought forward |
as restated | 163,261 | 483,362 | 646,623 | 1,006,890 | |||
| Net movement in funds |
in | the period | 78,113 | (30,765) | 47,348 | (360,267) | ||
| Total funds carried forward | 241,374 | 452,597 | 693,971 | 646,623 |
| Balance Sheet as at 31January 2021 | Balance Sheet as at 31January 2021 | Balance Sheet as at 31January 2021 | |||||
|---|---|---|---|---|---|---|---|
| Notes | 2021 | 2020 | |||||
| (as restated) | |||||||
| Fixed assets | f | 6 | |||||
| Tangible assets | 9 | 1,468,969 | 1,453,626 | ||||
| Investments | 10 | 1,025,000 | 988,372 | ||||
| Investment in subsidiary |
undertaking | 11 | 1 | ||||
| Total fixed assets | 2,493,969 | 2,441,999 | |||||
| Current assets | |||||||
| Debtors | 12 | 302,985 | 267,632 | ||||
| Cash at bank and in | hand | 68,213 | 12,683 | ||||
| Total current assets | 371,198 | 280,315 | |||||
| Creditors: Amount | falling | ||||||
| due within one year | |||||||
| 13 | (1,518,655) | (1,428,029) | |||||
| Net current assets | (1,147,457) | 1,147,714 | |||||
| Total assets less current | liabilities | 1,346,512 | 1,294,285 | ||||
| Creditors: Amounts | falling due after | ||||||
| more than one year | 14 | (652,541) | (647,662) | ||||
| Total net assets | 693,971 | 646,623 | |||||
| Funds ofcharity | 15 | ||||||
| Unrestricted funds |
241,374 | ||||||
| Restricted funds |
452,597 | 646,623 | |||||
| Total funds | 693,971 | 646,623 |
| 3-Incoming resources | from a | ctivities t | o furthe | r the charity's o | bjects | ||
|---|---|---|---|---|---|---|---|
| Total | Total | ||||||
| Unrestricted | Restricted | 2021 | 2020 | ||||
| E | f | f | f | ||||
| 3.1Grants (individual | sources | ||||||
| In excess off10,000 pa) | 14029 | 14,029 | |||||
| 3,2 The Irish Government | |||||||
| Affairs and Trade | Emigrant | Support | 45,682 | ||||
| 3.2 Grants (individual | sources | ||||||
| less than off10,000 pa) | 6,535 | ||||||
| 14,029 | 52,217 | ||||||
| 4-Total resources expended | Unrestricted | Restricted | Total | Total | |||
| 2021 | 2020 | ||||||
| 12 months | 17months | ||||||
| E' | f | E | |||||
| 4.1Staff wages | 960 | 960 | 39,186 | ||||
| 4.2 Rent, rates and insurance | 4,511 | 2,429 | 6,940 | ||||
| 4.3 Accountancy, legal |
and professional | fees | 2,170 | 1,168 | 3,338 | 10,350 | |
| 4.4 Printing, postage, stationery |
& advertising | ||||||
| 4.5 Bank charges and | interest | 78,179 | 78,179 | 122,971 | |||
| 4.6 Over 50s Luncheon | project | (food costs) | 2,820 | ||||
| 4.7 Charitable purpose |
expenditure | 9,779 | |||||
| 4.8 Miscellaneous | 298 | 298 | 2,951 | ||||
| 4.9 Depreciation | 31,131 | 31,131 | 80,216 | ||||
| 6,979 | 113,867 | 120,846 | 268,273 | ||||
| 5-Net incoming resources for |
the year | 2021 | 2020 | ||||
| E | f | ||||||
| This is stated after charging: | |||||||
| Depreciation | 31,131 | 80,216 | |||||
| Impairment/(Surplus) | on Revaluation | (83,102) | |||||
| Independent examiner's fee |
850 | 850 | |||||
| (51,121) | 81,066 |
| 6- Paid Emplo | yees | |||||||
|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | |||||||
| E | E | |||||||
| 6.1Staff costs | ||||||||
| Gross salaries/wages | and benefits | in kind | 960 | 39,186 | ||||
| Employer's | national | insurance | contributions | |||||
| 960 | 39,186 | |||||||
| 6.2 Average number offulltime | equivalent | 2021 | 2020 | |||||
| Employees | in the year engaged | in | Charitable | activities |
| 9-Fixed Assets | (as restated) | Long | Fixtures | Total |
|---|---|---|---|---|
| Leasehold | and | |||
| Premises | Fittings | |||
| Cost | f | f | E | |
| As at 31January | 2020 | 1,512,085 | 263,816 | 1,775,901 |
| Additions | ||||
| Revaluation | (87,085) | (87,085 | ||
| As at 31January | 2021 | 1,425,000 | 263,816 | 1,688,816 |
| Depreciation | ||||
| As at 31January | 2020 | 133,559 | 188,716 | 322,275 |
| Charged this period | 4,750 | 26,381 | 31 131 | |
| Revaluation | (133,559) | (133,559) | ||
| As at 31January | 2021 | 4,750 | 215,097 | 219,847 |
| Net book value | ||||
| As at 31January | 2021 | 1,420,250 | 48,719 | 1,468,969 |
| As at 31January | 2020 | 1,378,526 | 75,100 | 1,453,626 |
| Long Leasehold | Total | ||||
|---|---|---|---|---|---|
| Premises f | f | ||||
| Cost | |||||
| As at 31January 2020 | 4,864,937 | 4,864,937 | |||
| Additions | |||||
| As at 31January 2021 | 4,864,937 | 4,864,937 | |||
| Depreciation | |||||
| As at 31January 2020 | 648,881 | 648,881 | |||
| Charged for Year |
97,298 | 97,298 | |||
| As at 31January 2021 | 746,179 | 746,179 | |||
| Net book value | |||||
| As at 31January 2021 | 4,118,758 | 4,118,758 | |||
| As at 31January 2020 | 4,216,056 | 4,216,056 | |||
| 10-Fixed Assets Investment | 2021 | 2020 | |||
| f | f | ||||
| Land leased to Northwind | 5s Ltd | 1,025,000 | 998,372 | ||
| Part ofthe land attached to | the Irish World Heritage Centre has been sublet to Northwind | Ss Ltd t/a | |||
| Goals at an annual rent of |
670,000.This | land was valued | on 30 November 2020together |
with the leasehold | |
| property. | |||||
| 11-Investment In Subsidiary |
IJndertaklng | 2021 | 2020 | ||
| f | 6 | ||||
| Manchester and Irish Trading Ltd |
0 | 1 | |||
| (less amount written off) |
|||||
| 12-Debtors | 2021 | 2020 | |||
| Amount falling due within |
one year | f | 6 | ||
| Trade debtors | 24,778 | 450 | |||
| Other Debtors | 11,025 | ||||
| Amount owed by group and |
associated | undertakings | |||
| (see note 7.2 and 7.3 ) Provision for bad debt from |
subsidiary | 518,196 ~251,014) |
483,643 216,461) |
||
| 302,985 | 267,632 |
| 13-Creditors: amounts falling due within one year |
2021 | 2020 | ||||||||||
| f | f | |||||||||||
| Bank Loans and overdrafts | 46,927 | 46,080 | ||||||||||
| Loan from Manchester City Council |
1,444,764 | 1,381,024 | ||||||||||
| Trade and expense creditors | 462 | 850 | ||||||||||
| Social security and other taxes | 18,916 | 75 | ||||||||||
| Other creditors and accruals |
7,586 | |||||||||||
| 1,518,655 | 1,428,029 | |||||||||||
| 13-Creditors: amounts falling due within one year |
||||||||||||
| At 31January 2021,the loan from Manchester | City Council | includes accrued interest off287,098 | ||||||||||
| The accrued interest amount is for the |
last six years | since the | start ofthe loan in | January 2015. | ||||||||
| The loan from Manchester City Council |
is secured | by debenture | dated 20January | 2015which includes | ||||||||
| a fixed charge over all the borrowers' | right, title and | interest | in | the existing rent | account subject to | |||||||
| the deed of priorities held by the Co operative |
Bank | pic. | ||||||||||
| 14-Creditors: amounts falling due after more |
than | one | year | |||||||||
| 2021 | 2020 | |||||||||||
| f | 6 | |||||||||||
| Bankloans | 652,541 | 647,662 | ||||||||||
| 652,541 | 647,662 | |||||||||||
| 14-Creditors: amounts falling due after more |
than | one | year | |||||||||
| Bank loans and overdraft facilities are |
secured | by | a standard | mortgage debenture |
to the Co operative | |||||||
| Bank pic incorporating a fixed and floating charge |
dated | 20June 2012over the | assets of | |||||||||
| the company. | ||||||||||||
| The Co operative Bank pic also holds a |
deed of | priorities | dated 20January 2015which provides the bank | |||||||||
| with priority over the Manchester City |
Council | for | a sum | of61.1m plus interest | and costs. | |||||||
| The Co operative Bank pic also holds a |
first legal charge dated | 20June 2012over | registered | leasehold | ||||||||
| property known as Land at Queens Road, Cheetham |
Hill, | Manchester MB BUR. |
||||||||||
| There is a full unlimited cross company |
guarantee | structure | between IDF and Manchester |
Irish Centre Ltd, | ||||||||
| Bank Loans | 2021 | 2020 | ||||||||||
| f | f | |||||||||||
| Repayable in one year or less or on demand |
46,927 | 46,080 | ||||||||||
| Repayable between one and two years |
48,399 | 47,596 | ||||||||||
| Repayable between two and five years |
604,142 | 600,066 | ||||||||||
| Repayable in five years or more |
||||||||||||
| 699,468 | 693,742 |
| 15-Funds Held | Balance | Balance | Re- | Incoming | Outgoing | Other gains | Balance | ||
|---|---|---|---|---|---|---|---|---|---|
| 8/F | allocation | Resources | Resources | & losses | C/F | ||||
| as restated | |||||||||
| E | |||||||||
| Restricted Fund |
|||||||||
| Capital development | fund | 590,906 | (590,906) | ||||||
| Emigrant and community |
|||||||||
| support fund |
55,717 | (4,557) | 51,160 | ||||||
| Property fund |
427,645 | (109,310) | 83,102 | 401,437 | |||||
| Unrestricted Fund |
163,261 | 119,645 | (6,979) | (34,553) | 241,374 | ||||
| 646,623 | 119,645 | (120,846) | 48,549 | 693,971 | |||||
| The Emigrant and Community |
Support | Fund | relates to income | received specifically to cover wages and | |||||
| other costs incurred | under the Government | of Ireland ESP, and other specific community |
pro)ects. | ||||||
| The Property Fund relates to |
income given solely in respect of | the property | owned by the |
charity and | |||||
| relating to its refurbishment | and other costs. | ||||||||
| 16-Assets held | Restricted | Unrestricted | |||||||
| Funds | Funds | ||||||||
| f | f | f | |||||||
| Tangible Fixed Assets |
1,420,250 | 48,719 | 1,468,969 | ||||||
| Investments | 1,025,000 | 1,025,000 | |||||||
| Current Assets | 151,579 | 219,619 | 371,198 | ||||||
| Current Liabilities |
(1,491,691) | (26,964) | (1,518,655) | ||||||
| Creditors over 1Year | (652,541) | (652,541) | |||||||
| 452,597 | 241,374 | 693,971 |