Irlsh Diaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
Irish Diaspora Foundation
(A company limited by guarantee)
Trustees, and Directors, Report and Accounts
for Year ended 31 January 2024
Company number 040609231England and Wale51
Charity number 1086775
*ADEUGRwO*
3011012024
COMPANIES HOUSE
A12
#159
Page l of 19

Irlsh Dlaspora Foundatlon
Trustees, and Directors, Report for the Year ended 31 January 2024
Contents
Page
Trustees'/Directors' Annual Report
Independent Examiner's Report
Statement of Financ5al Activities
io
Balance Sheet
11
Notes to Financial Statements
12-19.
Page 2 of 19

Irish Dlaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
The Trustees present their Annual Report and the Directors, Report (as required by company lawl
together with Financial Statements for the year ended 31 January 2024.
Reference and Administration details
Charlty name:
Charity registration number:
Company number:
Principal address and registered office:
Irlsh Dlaspora Foundation
1086775
04060923
I Irish Town Way
Cheetham Hill, Manchester
M8 OAE
Irish Diaspora Foundation is a company limited by guarantee not having any share capital.
Trustees'/Dlrector's responslbllltles
The Trustees/Directors are responsible for preparing the directors, report and the financial statements in
accordance with applicable law and regulations.
The company law requires the dlrectors to prepare the financlal statements for each financial
year. Under the law directors have elected to prepare the financial statements in accordance
with UK GAAP18enerally accepted accounting practice)
Under company law directors must not approve the financial statements unless they are satisfied
that they give true and fair view of state of affairs of the company and of profit and loss account
for that period.
In preparing these financial statements, directors are required to
select suitable accounting policies and apply them consistently
make judgement and accounting estimates that are reasonable and prudent
prepare financial statement on going concern ba515 unless it is inappropriate to presume
that company will continue in business.
The directors are responsible for keeping adequate accountlng records that are suff icient to show
and explain the company transactions and disclose with reasonable accuracy at any time the
financial position of the company and enable them to ensure the financial statements comply
with Companies Act 2006. They are responsible for safeguarding the assets of the company and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 3 of 19

Irish Diaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
Trustees/Directors
At the date of approval of this report the charity trustees and directors were as follows
Paul Ezekiel Stanion
Michael Gerard Forde
Martin Connolly
Brian Bernard Kennedv
Martin Logan
Rose Agnes Morris
Michael Gorman
Appointed 10th April 2024
Trustees are appolnted by majority vote of existing trustees/directors
Other relevant Informatlon
Reglstered Offlce
I Irlsh Town Way
Cheetham Hill
Manchester
M8 OAE
Bankers
The Co Operatlve Bank PIC
PO Box 250
Skelmersdale
WN8 8NT
Strurture. Governance and Management
l- Governlng Document
The Foundation is 3 charitable company limited by guarantee, incorporated on 29 August 2000
and registered as a charity on 25 May 2001.
It was establlshed under a memorandum of association which outlines'its objects and powers
and is governed under its articles of association . It has a use of limited exemption.
In the event of the company being wound up members are required to contribute an amount
not exceeding £ l as detailed in the charity's mernorandum and articles of association.
2-Introductlon
The Irish Diaspora Foundation {IDFI is a registered char5ty founded in 2000 and based at the
Irish World Heritage Centre. Its aims and objectives are to advance education of the wider
community on all aspects of Irish Culture and Heritage, and the positive contribution of Irish
emigrants worldwide. This is achieved through promotion and development of Irish arts, history,
cultural heritage and sporting activities at the Irish World heritage Centre and by working in
partnership with other Irish or8anisations and community 8roups.
2.1- Board of Trustees
The Board of Trustees consists of seven people, all of whom bring appropriate knowledge and
and expertise to the board.
Page 4 of 19

Irlsh Diaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
2.2- Staff
The Irish Diaspora Foundation employs three members of staff in an administrative capacity.
2.3-Volunteers
The Irish Diaspora Foundation currently has 8 volunteers who often support delivery of cultural events
and one-off projects.
3- Goal Soccer Centre
The sublet to Northwind 5s Ltd t/a Goals S-a-side football opened on the site in February 2015 and.
has been trading alongside the Irish World Heritage Centre since that time, providing an annual income
to the centre from a long term lease arrangement.
4- On8oln8 projects and actlvltles
4.1-Fundin8
During the year rentals have continued to be received from Goals 5-a-side football, and other organisations.
4.2- Manchester Irlsh Centre Llmlted
Manchester Irish Centre Limited {MICL) is a mutual society {registered number 24907RI
This society works closely with the Irish Diaspora Foundation(IDF) and has several mutual trustees.
MICL operates out of the Irish World Heritage Centre which is part owr)ed by IDF and no rent
is charged to MICL. MICL and IDF are joint lease holders of the land on which the property is built.
MICL and IDF are also joint lessor5 of a sub-lease relating to part of the land incorporated in their
joint lease.
Page 5 of 19

Irish Diaspora Foundatlon
Trustees, and Directors, Report for the Year ended 31 January 2024
4.3- Partnershlps
The Trustees of the Irish Diaspora Foundation welcome every opportunity to work in partnership with
local, regional and national organisations, and particularly with the local cultural, charity and voluntary
sector. As well as being highly committed to advance the aims and objectives of the Irish Diaspora
Foundation to inform the public about the heritage of Ireland and its history and culture in dance, muslc,
literature, art and sport, we provide a diverse platform of activities with the education and learning
sectors locally and regionally. We believe that partnership leads to more effective and more efficient
operation, and that the pooling of resources, experiences and skills can lead to enhanced delivery
for the Manchester Irish Community and the general public who avail of the charity and share our culture.
We continue to enhance well established partnerships with a large number of organisation5 ranging from
one-off consultations to regular projects and weekly activities. Ongoing plans to diversify our publics
and to extend the reach and depth of our engagement with the Irish Oiaspora partnerships involve
greater collaboratlon with established and emergent sectors including the bur8eonin8 Festlval sector
in Greater Manchester and other local ethnic communities and funders. During the past year, collaboration
with these or8anisations increased markedly on the previous year as demand and participation
continued to normalise following the previous years of limited programmes in the recovery after
the Covid19 lockdown and cost of living crisis.
Below are examples of the charitles and organisations we have collaborated with
over the past year.
Claddagh Association of Irish Dance, Conradh na Gaeilge, Irish in Britain,
Manchester Metropolitan Universitv. Comhaltas in Britain Manchester Branch. Manchester Cltv Council.
LiverDool Institute of Irish Studies. Manchester Irish Festival. Ukrainian Centre Manchester.
Irish Youth Foundation. Centre for New WritinR- Universitv of Manchester. Manchester PiDe Band.
Lancashire GAA. St Wllfred's CCE. Irlsh TV In the UK. Manchester Irish Education Grouo.
Manchester Irish LanRua%e Group. Folk GrouDS and Show 8ands
Irish SteD Dance GrouDS. Manchester Irish Writers. Irish Communitv Care Manchester.
Pa8e 6 of 19

Irlsh Dlaspora Foundatlon
Trustees, and Directors, Report for the Year ended 31 January 2024
4.4- Cultural and Education Programmes
The Irlsh Dlaspora Foundation aims to provide a dlverse programme of activities throughout the year
to attract members of the Irish community and other cultural groups.
The programmes delivered from February 2023 in the evening classes and workshops included
the Manchester Irish Writers, St Wilfred's traditional musicians, Conradh na Gaeilge Gaelic language,
Claddagh Association of Irish Dance for adults, Pipe Band practice, and the Manchester Irish Education
Group. The latter continued a regular input through meetings and classes, and co-ordinated the annual
National One Day Irish Conference and St Patrick's Gaelic Mass in the March Irish Festival programme,
and a memorial service in November for the deceased members of the Irish community.
Participants from the other cultural classes took part in concerts, performance5 and the St Patrick's Day
Parade.
A varied programme of events was on offer for the Manchester Irish Festival including the St Patrick's Day
Parade from the Irish World Heritage Centre. It was well attended both In terms of numbers participating,
and those viewing along the four mile route.
Television programmes showing GAA football, Hurling, Soccer and Rugby matches are available
to members in the Wild Geese Bar.
Throughout the year Trustees, volunteers and cultural group leaders continued to provide social media
updates in order to maintain contact with the wider Irish community, and to enhance and promote their
well-bein8, as well as encouraglng them to enjoy the facilities at Irish World Heritage Centre for social
entertalnment and other events. The local Irish Radio, all FM, and Irlsh TV in the UK, together with
the IWHC staff have been active in promotin8 the Increasing number of events and services on offer.
Page 7 of 19

Irish Diaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
Financial Performance
The Statement of Financial Activities is set out on page 10 and shows a deficit of £184,821
(2023: £179,189) on total income generated of £240,949 (2023: £269,429}.
Rental income a fallen as a result of the cessation of the NHS agreement in August 2022.
The Balance Sheet on page 11 shows total net assets of £321,79612023: £506,617). The net assets are split
between unrestricted and restricted funds, further details of which can be seen in note 14 of these
financial statements.
The Irish Diaspora Foundation (the Charity) has continued to be challenged financially during the year,
with the legacy impact of Covid 19 on cultural and entertainment venues, the cessation of the rental
agreement with NHS in 2022, the cost-of-living crisis, and other external factors all having
a negative effect on activities and the finances of the Charity.
As such the Board have considered the going concern basis of preparation of the Financial Statements,
further details of which can be seen in note 1.1 to these financial statements.
This report has been prepared in accordance wlth the small company regime, section 419 (21 of the
Companies Act 2006.
Approved by the Board o
signed on their behalf by
Brian Kennedy (Trustee)
Martin Connolly (Trustee)
Page 8 of 19

Irish Diaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
Independent ExamlTher's Report to the Trustees of Irlsh Dlaspora Foundatlon
I report to the charity trustees on my examination of the accounts of the charity for Year ended
31 January 2024 which are set out on pages 10 to 19.
Respect responsibilities of trustees and examiner
As the charity's trustees of Irish Diaspora Foundation (and also its directors for the purpose of
company law) you are responsible for the preparation of accounts in accordance with the requirements
of the companies Act 20061'the 2006 Act,).
Having satisfied myself that the accounts of Irish Diaspora Foundation are not required to be audited
under part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my
examination of your charity's accounts as carried out under section 145 of the Charities Act 2011
{'the 2011 Act'l. In carrying out my examination I have followed the Dlrectlons given by the Charity
Commission under section 145151 Ib) of the 2011 Act.
Independent Examlner's statement
Since the Irish Diaspora Foundation's gross income exceeded £250,000, your Examiner must be a member
of a body listed in section 145 of the 2011 Charities Act. I confirm that l am qualified to undertake
the examination because l am a member of the Institute of Chartered Accountant5 in England & Wales,
which is one of the listed bodies
I have completed my examination. I confirm that no matters have come to my attention in connection
with the examination givin8 me cause to believe:
l- accounting records were not kept in respect of Irish Diaspora Foundation as required by section 386
of the 2006 Act; or
2- the accounts do not accord with those records; or
3- The accounts do not comply with the accounting requirements of section 396 of the 2006 Act other
than any requirement that the accounts give true and fair view which is not a matter considered as
part of an independent examination; or
4- the accounts have not been prepared in accordance wlth the methods and principles of the
Statement of Recommended Practice for the 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).
I have no concerns and have come across no other matters in connection wlth the examlnatlon
to which attention should be drawn in this report in order to enable a proper understanding
of the accounts to be reached.
Paul Roper (FCAI
McKellens Ltd
11 Riverview
The Embankment Business Park
Vale Road. Heaton Mersey
Stockport, SK4 3GN
Page 9 of 19

Ir15h Dlaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
Statement of Financial Actlvities for the Year ended 31 January 2024
Unrestricted Restricted
Fund
Fund
2024
2024
Total
Funds
2024
Unrestricted Restricted
Fund
Fund
2023
2023
Total
Funds
2023
Note!
Incoming resources
Grants
Rent receivable
Donation
Irish government grant
Emigrant Support Programme
From charitable activitie5
Fund raising
15,000
150,949
75,000
15,000
150,949
75,000
4,000
265,429
4,000
265,429
Total Incomlng resources
240,949
240,949
269,429
269,429
Less: Resources expended
Charltable actlvltles
Other Expendlture
4 1186,684) 1239,0861 {425,770) 1177,532) (206,9581 1384,490)
Total resources expended
{186,684} 1239,086) (425,770} 1177,532} 1206,958) 1384,490)
Net (expenditurel/income for year
Net resources before other
recognised gains/(losses)
54,265 (239,086)
184,821
91,897
206,9S8
115,061)
54,265 (239,086) 1184.821)
91,897 {206,958) (115,061)
Other recognised galns/(losses)
Provision for doubtful debt
Surplus on Revaluation
(267.182)
(267,182
203,054
203,054
Net movement in fund
Reconclllatlon of funds
Total funds brought forward
54,265 1239,086) {184,821) 1175,285)
{3,904) (179,1891
214,916
291,701
506,617
390,201
29S,60S
68S,806
Total funds brought forward
Net movement in funds in year
214,916
291,701
506,617
390,201
54,265 (239,086} {184,821) (175,285)
295,605
685,806
13.904) (179,189)
Total funds carried forward
269,181
52,615
321,796
214,916
291,701
506,617
Page 10 of 19

Irlsh Diaspora Foundation
Trustees, and Oirectors, Report for the Year ended 31 January 2024
Balance Sheet as at 31,January 2024
Notes
2024
2023
Flxed assets
Tangible assets
Investments
Investment in subsidiary
Total fixed assets
1,239,880
1,325,000
1.272,995
1,325,000
10
2,564,881
2,597,996
Current assets
Debtors
Cash at bank and in hand
Total current assets
11
36,233
2,126
38,359
90,919
12,168
103,087
Creditor5: Amount falllng
due within one year
12
12.281.444)
(1,640,279)
Net current assets / (Ilabllltles)
12,243,085)
{1,537,192)
Total assets less current Ilabllltles
321,796
1,060,804
Creditors: Amounts falling due after
more than one year
13
(554,187)
Total net assets
321,796
506,617
Funds of charlty
Unrestricted funds
Restricted funds
Total funds
14
269,181
52,615
321,796
214,916
291,701
506,617
For the financial year in question the company was entitled to exemption under sectlon 477 of the
Companies Act 2006 relating to small companies.
No members have required the company to obtain an audit of its accounts for the year In questlon
in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Act with
respect to accounting records and for the preparation of account5.
These accounts have been prepared in accordance with the provisions applicable to companies
subject to the small companies regime.
Approved by the Trustees o
signed on their behalf
Brian Kennedy {Tru
Martin Connolly (Trustee)
Page 11 of 19

Irlsh Dlaspora FoundatSon
Trustees, and Directors, Report for the Year ended 31 January 2024
Notes to the Flnanclal Statements for the Year ended 31 January 2024
l-Basls of Preparation
The Trustees have prepared these Financial Statements on a Going Concern basis.
The Charity had a commitment to a bullet repayment of circa £551K in respect of a bank loan, which was
due in September 2024.
The Trustees have worked hard to secure the future of the Centre via discussions with an existing
stakeholder wlth a view to restructurin8 the entire debt on the Balance Sheet In order to repav
the £551K bullet bank debt in full, with that stakeholder taking over all the debt.
The Trustees are pleased to report that the entire debt has been restructured in September 2024, and that
the bullet payment has been made, which has secured the long-term future of the Charity.
On the basis that the debt is restructured, the Trustee5 have further reviewed the projected
financial commitments and cash flows for twelve months from the date of approval of these
Financial Statements.
The Trustees consider that the Charity's income, together wlth the contribution to central costs
from its trading subsidiary, are sufficient to cover the Charity's costs until at least November 2025.
Irish Diaspora Foundation has contracts and agreements providing medium to long term rental income
from Goals Soccer Centre, Metrolink parking and Beacon Medical Services NHS scanner unit, which
underpin the Board's financial assumptions. In addition, the Trustees are exploring the possibility
of granting a long-term sub-lease on a portion of the land to a local leisure business to further
strengthen the future annual guaranteed income stream.
As the bank debt has now been repaid in full as part of the restructure, the Trustees believe that
the Charity is a going concern, and will continue to trade for a perlod of at least twelve months
from the date of approval of these Financial Staternents.
1.2 Basls of preparatlon of Flnanclal Statements
The financial statements have been prepared in accordance with the Charities SORP {FRS 102) - Accounting
and Reporting by Charities: Statement of Recommended Practice applicable to charlties preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS 102), effective l January 2019, and the Companies Act 2006.
The Charity meets the definition of a public benefit entity under FRS 102.
Assets and liabilities are initially recognised at historical cost or transaction value unless other stated in
the relevant accounting policy.
1.3 Fund Accounting
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general
objectives of the charity.
Designated funds are unrestricted funds earmarked by trustees in furtherance of the general
objectives of the charity.
Restricted funds are subject to restrictions on their expenditure imposed by the donor or through
the terms of an appeal. Restricted funds include a revaluation reserve representing the restatement
of investment assets at market values.
In the opinion of the Trustees, there are no critical estimates or judgements included in the accounts.
Page 12 of 19

Irish Diaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
2- Accounting Policies
2.1- Incomin8 resources
al- All incoming resources are included in the statement of financial activities (SOFA) when the charity
is entitled to the resource5, the quantum can be determined with reasonable accuracy, and in the
opinion of the trustees, virtual certainty of receipts is perceived.
bl-where incoming resources have related expenditure ( e. g with fundraising or contract income) the
attributable resources and expenditure are reported gross in the SOFA.
cl-Grants and donations are only included in the SOFA when the charity has unconditional entitlement
to the resources.
d) Contractual income and performance related grants are only included in the SOFA once goods
have been delivered/performed.
e) Gifts in kind for use by the charity are included in SOFA as incoming resources when
receivable, recognised using a reasonable estimate of their value to the charity.
f) Donated services and facilities are only included in incoming resources (with an equivalent
amount in resources expended) where the benefit to the charity is reasonably quantifiable,
measurable and material, recognised at the estimated value to the charity.
g) The value of voluntary assistance received is not recognised in these accounts.
h) Foreign currencies.. transactions in foreign currencies are translated into sterllng at the rate ruling
on the date of the transaction. Exchange differences are taken into account in arriving at net
Incoming resources.
2.2- Resources expended
a) Expenditure is recognised on an accrual basis as a liability is incurred.
b) Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for its beneficiaries. It includes both costs allocated directly to such activities and those
costs of an Indirect nature necessary to support them.
c) Governance costs include costs associated with rneetlng the constitutional and statutory
requirements of the charity and could include the costs of preparation and audlt or independent
examination of statutory accounts, cost of trustees, meetings and of legal and professional advice.
d) Capital grants are presented in the accounts as incoming resources. The depreciation of the fixed
assets is recognised in the SOFP against the associated fund.
e) All costs are allocated between the appropriate expenditure categories of SOFA on a basis designed
to reflect the use of resources. Costs relatin8 to a particular activity are allocated directly, others are
apportioned on an appropriate basis.
2.3- Assets
Fixed assets represents capitalised professional fees, expenses incurred during the year and
development works on the Irish World Heritage Centre. The land and buildings is subjett to a 250 year
lease commencing on 20 June 2012 from the Manchester City Council.
Fixed assets with a value less than £100 are not capitalised.
Depreciation is provided on tangible fixed assets so as to write off the cost, less any residual value,
over their expected useful economic life.
Leasehold property
Fixtures, fittings and equipment
2 % straight line
IO% straight line
Page 13 of 19

Irlsh Diaspora Foundatlon
Trustees, and Directors, Report for the Year ended 31 January 2024
3- Incoming resources.ffom actlvities to further the charity's objects
Total
2024
Total
2023
Unrestricted Restricted
Unrestricted Restricted
3.1 Grants (individual sources
in excess of £10,000 pa)
3.2 The Irish Government
15,000
3.2 Grants {individual sources
less than of £10,000 pal
4,000
4,000
Is,000
4,000
4,000
4- Totsl resources expended
Total
2024
Total
2023
Unrestricted Restricted
Unrestricted Restricted
4.1 Staff wages
4.2 Light, Heat and insurance etc
4.3 Accountancy, & professional fees
4,4 Stationery, postage, advertising
4.5 Bank char8es and interest
4.6 Maintenance and Repair5
4.7 Miscellaneous
4.8 Depreciation
80,235
85,643
3,920
3,902
496
12,488
4,233
46,115
2,110
2,100
143,868
6,725
84,468
131,758
6,030
6,002
144,364
19,213
79,695
71,547
601
3,826
474
21,389
4, 194
38,525
324
2,060
91,700
. 11,517
83,889
110,072
925
5,886
92,174
32,906
33,935
33,935
58,638
58,638
186,684
239,086
425,770
177,532
206,958
384,490
5- Net Incoming resources for the year
2024
2023
This is stated after char8ln8:
Depreciation
Impairment/{Surplus) on Revaluation
Governance costs .
Independent examiner's fee
33,935
58,638
(203,054)
1,195
35,130
925
1143,491)
2024
2023
6.1 Staff costs
Gross salaries/wages and benefits in kind
Employer's national insurance contributions
Employer's Pension Contributions
81,007
2,413
1,048
84,468
80,212
2,720
957
83,889
Page 14 of 19

Irish Diaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
6.2 Average number of fulltime equivalent
2024
2023
Employees in the year
6.3 Staff Penslon Scheme
The charity operates a defined contribution pension schemes for its employees. The charity started
the pension scheme from Oct 2017. The People's Pension is the workplace pension provider for the charitv.
6.4 There are no employees with emoluments above £60,000.
7- Trustees remuneratlon and related party transactions
7.1 Neither the trustees nor any person connected to them have received any remuneration or
payment for individual expenses during the period (2023 £Nil)
7.2 Manchester Irlsh Centre Ltd
Manchester Ir5sh Centre Ltd is a mutual society which works closely with Irish Diaspora Foundation.
It operates out of the property known as the Irish World Herita8e Centre on a rent free basis.
The two entities have several mutual trustees.
At 31 January 2024, there was a balance of £267,182 (2023 - £267,182) due from
Manchester Irish Centre Ltd.
In the opinion of the Trustees this debt is unlikely to be recoverable, and full provision was
accordingly made in the 2023 Accounts.
7.3 Irlsh Town Manchester Ltd
Irish Town Manchester Limited, a wholly owned subsidiary of Irish Diaspora Foundation,
was incorporated on 3rd December 2021.
The company commenced trading on 4th February 2022.
At 31 January 2024, there was a balance of £20,167 due to Irish Town Manchester Limited.
Group accounts have not been prepared on the basls that the group is a small group as set out
in S383 Companies Act 2006 and the Charities SORP.
Page 15 of 19

Irish Diaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
8- Tanglble Flxed Assets
Long
Leasehold
Premlses
Fixtures
and
Fittings
Total
Cost
As at 31 January 2023
Additions
Revaluation
As at 31January 2024
1,255,000
285,290 1,540,290
820
820
1,255,000
286,110 1,541,110
Depreciation
As at 31 January 2023
Charged this period
Revaluation
As at 31 January 2024
267,295
2.230
267.29S
33,93S
31,705
31,705
269,525
301,230
Net book value
As at 31 January 2024
As at 31 January 2023
1,223,295
1,255.000
16,585 1,239,880
17,995 1,272,995
The leasehold property was valued on 22 June 2023 by a national firm of Chartered Surveyors
and Property Consultants, Gerald Eve LLP, members of the Royal Institute of Chartered Surveyors.
The valuation was made on an open market existing use basis. This valuation was incorporated
in the Flnancial Statements to 31 January 2023.
Depreciation on Long Leasehold Premises has been provided for the year.
The Trustees do not consider that the value of the leasehold property has changed significantly
since the date of the revaluation.
Page 16 of 19

Irlsh Dlaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
Historical Costs
Fixed assets shown at revalued amounts would normally have been shown at cost as follows
Long Leasehold
Premises £
Total
Cost
As at 31 January 2023
Additions
As at 31 January 2024
4,864,937
4,864,937
4,864,937
4,864,937
Oepreclatlon
As at 31 January 2023
Charged for Year
As at 31 January 2024
940,775
97,298
1,038,073
940,775
97,298
1,038,073
Net book value
As at 31 January 2024
Asat 31 January 2023
3,826,864
3,924,162
3,826,864
3,924,162
9-Flxed Assets Investment
2024
2023
Land leased to Northwind 5s Ltd
1,325,000
1,325,000
Part of the land attached to the Irish World Heritage Centre has been sublet to Northwind 5s Ltd t/a
Goals at a current annual rent of £91,862. Thls land was valued on 22 June 2023 together with the
Leasehold Property, and thls valuation was incorporated in the Financial Statements
to 31st January 2023. The lease end date is 2138.
10-Investment in Subsidiary Undertaking
2024
2023
Irish Town Manchester Llmited
The Company is a 100% wholly owned subsidiary of Irish Diaspora Foundation, and was
incorporated on 3rd December 2021 (number 13781331).
The Company's registered off ice is I Irish Town Way, Cheetham Hill, Manchester M8 OAE.
Trading commenced on 4th February 2022, and the principal activity is the provision of hospitality
services, including catering, bar, venue hire and function facilities for the Irish and wider communities.
The company's pre-tax profit for the year ended 31st January 2024 was £13,133,
and its net assets at that date were £4,180
During the year donations amounting to £75,000 were made to Irish Diaspora Foundation
by Irish Town Manchester Limited.
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Irish Diaspora Foundation
Trustees, and Directors, Report for the Year ended 31 January 2024
11- Debtors
Amount falling due within one year
Trade debtors
Other Debtors and Prepayment5
Accrued Income
Amount owed by group and associated undertakings
Provision for doubtful debt from associated company
2024
2023
33,188
3,045
267,182
(267,182)
36,233
36,097
15,556
306,448
(267,182}
90,919
12- Credltors . amounts falllng due wlthin one year
2024
2023
Bank Loans and overdrafts
Loan from Manchester City Council
Trade and expense creditors
Social security and other taxes
Other creditors and accruals
Amount owed to group and associated undertakings
561,420
1.652,910
29,725
3,755
13,467
20,167
2,281,444
40,843
1,55S,540
28,743
3,855
11,298
1,640,279
At 31st January 2024, the loan from Manchester City Council included accrued interest of £495,244
The accrued interest amount is for the last nine years since the start of the loan In January 2015.
The loan from Manchester City Councll is secured by debenture dated 20 January 2015 which 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 plc.
The loan from Manchester City Council is repayable on demand.
13- Creditors ' amounts falling due after more than one year
2024
2023
Bank loans
554,187
554,187
Bank Loans
2024
2023
Repayable in one year or less or on demand
Repayable between one and two years
Repayable between two and five years
Repayable in five years or more
561,420
40,843
554,187
561,420
595,030
The Bank Loan has been fully repaid on 10th September 2024.
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Irish Diaspora Foundation
Trustees, and Dirertors, Report for the Year ended 31 January 2024
14- Funds Held
Balance
B/F
Incoming Outgoing Other gains
Resources Resources
& losses
8alance
C/F
Restricted Fund
Emigrant and communlty
support fund
Property fund
51,160
240,541
51,160
1,455
{239,086}
Unrestricted Fund
214,916
240.949 (186,6841
269,181
506,617
240,949
(425,7701
321,796
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 projects
The Property Fund relates to income glven solely in respect of the property owned by the charity and
relating to Its refurbishment and other costs.
15- Post Balance Sheet Events
The Bank Loan was repaid on 10th September 2024.
A new Loan was taken out with Manchester City Council on 10th September 2024.
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