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|CONTENTS||
|---|---|
||Page|
|Company information|1-2|
|Trustees'Report|3-14|
|Audilors'Report|15-19|
|Consolidated Statement of FinancialActivities|20|
|Balance Sheets|21|
|Consolidated Statement ofCashflows|22|
|Notes totheFinancial Statements|2s-35|
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|||GENERAL|DESIGNATED|TOTAL|TOTAL|
|---|---|---|---|---|---|
||Notes|
2022|2022|2022|2021|
|||sgÊ|||Ê|
|INCOMEANDENDOWMENTS||||||
|Charitableactivites||||||
|Subscriptionsand feesfrommembers
Educat¡onal coursefeesand events|2|1,032,205
22,709|5,584
115,908|1,037,789
138,617|1,050,772
139,655|
|lnvestmentlncome||28.652|13,348|42.000|38,669|
|DonationsandLegacies|2|2,615|206|2,821|33,466|
|G¡ft A¡d|||63.221|63,221|53,719|
|Othertrading activities||||||
|Trading subsidiariesincome
Grånt íncome|3|222,205
5,692||222,205
5,692|178,858
55,322|
|Otherincome|||9,32S|9,329|33,611|
|TotalOperatinglncome||1,31¡t,078|207,596|1,521,674|1,584,073|
|EXPENDITURE||||||
|Ra¡s¡ngfunds||||||
|GiftAid -Societies' administration fees|2||1S,389|19,389|.16,321|
|Trading subsidiariesexpenditure|â|363,281||363,281|324,344|
|Total cost ofraising funds||363,281|'19,389|382,670|340,665|
|Charitable activities||||||
|Education coursesand events|2||101,113|101,1r3|55,484|
|Education|2,4|285,415|155,961|441,380|351,121|
|Volunteering
MembershipServices|2,4
2,4|305,797
595,416|287,419|305,797
882,835|303,929
742,131|
|TotalCharitable expend¡ture||1,186,631|544.493|1.731.124|1,452,665|
|Total operat¡ngexpenditure||1,549,912|563,882|2,1',13,794|1,793,330|
|Netoperating¡ncome /(expenditure)||(235,834)|(356,286)|( 592,120)|(209,257)|
|Net(loss)/gainoninvestmentassets|I|(85,2141|fi58,389)|(243,603)|203,224|
|Net ¡ncome /(expenditure)||(32r,048)|( 514,675)|(83s,723)|(6,033)|
|Gross transfersbetween funds|2|126,000|(126,000)|||
|Netmovementinfunds||(195,048)|(640,675)|(835,723)|(6,033)|
|Totalfundsbrought forward||858,703|2,015,526|2,874,228|2,880,261|
|Totalfunds carried forward|2,13|663,655|1,374,851|2,038,506|2,874,228|
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|||Group|Gharity||
|---|---|---|---|---|
||Notes|2022
2021|2022|2021|
|||e€ÊÊ|||
|Fixêd assets|||||
|Tangible assets
lntangible assets
lnvesiments|5
6
B|747,582
771,O55
97,807
101,852
1,552,3091,795,911|747,582
97,807
1,587,309|771,055
101,852
1,830,911|
|||2,397,698 2,668,818|2,432,698|2,703,818|
|Current assêts|||||
|Stock&work inprogress||9,872
12,294|||
|Debtors|7|88,047
'120,985|26,363|47,630|
|Cash at bank and inhand||385,505
909,069
247,443
483,1211,042,348 273,806||835,526
883,156|
|L¡ab¡l¡t¡es|||||
|Creditors: Amounts falling
due within one year
Netcurrent assets / (liabilities)|o|(842.617\(836,938)
{359,193)205,410|(770,790)(754,344)
(496,984)128,812||
|Nctassets||2,038,506 2,874,228|1,935,715|2,832,631|
|The Funds of the Charity
Unrestricted funds||560,864
817,105|560,864|817,105|
|Non-charitable tradingsubsidiaries
TOTALGENERAL FUNDS
Designated funds
Totalfunds|3
13|102,791
41,598
663,655 858,703
1,374,851 2,015,526
2,038,5062,874,228|560,864
1,374,851
1.S35.715|817,105
2,015,526
2.832.631|
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||2022|2021|
|---|---|---|
||e|€|
|Cashflow from operating actívities|||
|Netcashprovidedby operat¡ng activities|(508,755)|(252,1s0)|
|Cashflows from investingact¡vities|||
|lnvestment income andinterest received|42.000|38,669|
|Proceedsfrom disposalof fixed asset investments||135,225|
|Paymentsto acquiretangible and intangible fixedassets|(56,80s)|(s4,348)|
|Net (decrease) / ¡ncrease in cashand cesh equ¡valônts|(523,564)|(172,644)|
|Cash andcash equivalentsat beginning ofyear|909,068|1,081,712|
|Cash andcash equivalentsat end ofyear|385,505|909,068|
|Reconciliat¡onofnet(expenditure)tonet cashflow fromoperat¡ngactivities|||
||2022|202',l|
|||€|
|Net(expenditure) /¡ncomeincludingendoìrìrments|(835,723)|(6,033)|
|Adjustments for:|||
|Depreciationand amortisation charges|84,326|78,039|
|Netlosses/(gains)on investments|243,603|(203,22s\|
|lnvestment¡ncome|(42,000)|(38,66e)|
|(lncrease) /decrease in stock|2,422|(532)|
|(lncrease) /decrease in debtors|32,938|(22,695)|
|lncrease /(decrease)in creditors|5,679|(59,075)|
|Netcash providedbyoperatingactiv¡ties|(508,755)|(252,190)|
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|
areafunds,Asummâry of movementsonlhesê|fundsisshownbelow:|||||||
|---|---|---|---|---|---|---|---|
||Patrlc¡aFay
Msmorial|ZonaWålkor
8êquestProperly DevelopmentAreasAffiliat¡onFee|||||Tolal|
||2022
2022
Êç.€€€€Ê||2022|2022|2022|2022|2022|
|lncome||||||||
|lncomlng resourcesfromgÊnerãtedfunds||||||||
|Voluntary ¡ncome||||||||
|Subscriptions andfess frommembers|||||5,584||5,584|
|Gtft Aid|63.221||||||63,221|
|Donations legac¡esand similar¡ncome|||||206||206|
|Educatìonal coursefees and events|||||115.908||115,908|
|Activitaes for generatingfunds||||||||
|Other ¡ncome|||||9,329|||
|Bank ìnterest|3,989||||I||3,SS0|
|lnvestment lncome|77U|||||||
|Total incom¡ngresources||||||||
|Expendltu¡e||||||||
|Costs ofgeneratedfunds||||||||
|Costs ofgènsrâtingvoluntary income||||||||
|G¡ft Aìd- Soc¡etÌes'admin¡strat¡on fees|19,389||||||19,389|
|Fducation courses andevents|||||101,113||101,113|
|Char¡tableactlviti€a||||||||
|Grants|155,961||||||'155,961|
|Area awards|||||49,732||49,732|
|Disposal costs|||11,386||||'11.386|
|lvlembersh¡pseryices general|'13,882||3,245|'168,794|40380||226,301|
|lotalexpendllure|145.232||14.631|168.794|aql ))â||563.882|
|Netincome /(expsndilure) before tran3fers|11't1,2681|!,604|(14,631) (168,794)||
(60,197)|0|(356,286)|
|Transfers||||||||
|Grosstransfersbgtweenfunds||||||||
|Development Fund|(142,804)|||142,804||||
|Aff¡lial¡on Fee||||||(126,000)|(126,000)|
|Net¡ncomlng resourcesbefore other
rgcogniggd gains andlossss|(257,072\|r,604|(14,631) (25,990)||(60,197)|(r26,000)|(482,286)|
|Otho¡ recognisedgaing||||||||
|Nêt lossês oninvostment ass€ts|(132,004)|(26,385)|||0|0|(158,38S)|
||{389,076}|124,7841(14,631) (25,9e0)|||(60,197)(126,000)||{640,675)|
|Funds broughtforuard|71|||||||
##
|||PldclâFay|ze¡ãWelker
Bêqu€Bl|F¡rsE|PropedyDevdopmnt|PropedyDevdopmnt|PropedyDevdopmnt|Areâa|Areâa|Affillãtlon|Fee|Tot€l|
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||2021|ñ21|2021||2021|2021||2021|2020||2021|
|||e|f|||€€|||Ê|e||Ê|
|lncom6|||||||||||||
|Incoñlngrasou¡cesfromgenentadfuld6|||||||||||||
|Volu¡lerylncome
Subscriplionsa¡dfeesÍIonì mefl¡bgrs
G¡fIAid
Donationslegâciesand similar¡ncomê
Educatloñal@u&fees and evenls||53.719|||||||240
3,94;
92,427|||240
53.71I
3,943
s2,827|
|Activltles torgen6ratlngfunds
Õther ¡n@me|||||||||33,586|||33,586|
|lnvèslm€nl incoftè|||||||||||||
|Bank ¡oleresl||3.æ5|||||||2|||3,6a7|
|¡olåliicomlngresources|||||||||||||
|Expend¡luE|||||||||||||
|cosbofgenoratodlundB|||||||||||||
|Cogb ofEðnoratlnq voluntåry incomê
G¡ft Aid- S@ielies'adminislralion
fees
Educationeourssând evênts||16.321|||||||55.484|||r6.321
55,484|
|Charll¿bloâdlv¡t¡os
G.anls||119.684||||||||||119,684|
|Memboßhip sêNicê6grants
commerc¡âlsubs¡d¡âry
Membershipseru¡cesgêneÞt||10.82;||52,695||
3.930|4,425
52,580||35.177
4e.81i|||35,177
a,425
169.850|
|lotålexpènditure|||||||||||||
|Net lnoome / (oxpondltur€) b€foretaansleF||(8r,877ì|1,000|(52,605) (3,930)|||(61,005)||
(9,880)|||(208,387)|
|Transf€rs|||||||||||||
|Ðevleopm€nt Fund
Alfiliâlion Fee|||||||50.600|||(1,000)||50,600
{1.000)|
|Not ¡ncom¡ngrcsourcsaboforo
r€cognissdgalngandlossss|other|{81,077)|1,000|(52,695) {3,s30)|||(10,,105)(9,880)|||(r,000)||(f58,787)|
|Olherrecognlsod(lo83ea)/gôln6
Netqainstrinvæîment assets||115,451|20,785|||||||||136,240|
|Net mov€ment lñfu¡ds||3t.574|21.789|{s2.695} {3,930)|||(10,{s)||(s,ËEo}||'1,000|l22,5/t\|
|Fund€broughtfoNard|||181||||||||||
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##
|The income and expend¡ture of the trad¡ngsubsidiariesis
are summar¡sed below,|disclosed separatelyìnthe Consol¡dated Statementof|disclosed separatelyìnthe Consol¡dated Statementof|F¡nancial Activ¡ties. Their aud¡t|F¡nancial Activ¡ties. Their aud¡t|edfinancialsta|tements|
|---|---|---|---|---|---|---|
||NADFASEnie¡prisåsLtd||NADFASTours Ltd||Total||
||2022|2021|2022|2021|2022|2021|
||I|Ê|f,|Ê||f|
|Turnover|434,486|365.363|54,921|2A,382|489,407|393,745|
|Cost ofsalos|t345.880)|t301 .301)|||t345B80t|t301.301ì|
|Grossprof¡l|88,606|64,062|54,521|28,382|143,527|92,444|
|AdminislrationExpenses|(54,137)|(63,996)|(1B,ee5)|(19,133)|(73,132)|(83,129)|
|Other ¡ncome|118|5|||118|5|
|Profit / (Loss) bsforo taxat¡on|34,587|71|35,926|9,249|70,513|9,320|
|Taxåtion|||||||
|Proflt / (Lo6s) âftertåxatlon|34,587|71|35,926|9,249|70,513|9,320|
|Rsta¡nedprofit broughlforuard|32,349|65,496|9,249|10,744|41,598|76,240|
|Gifta¡dd¡stribut¡on|(71l|(33.21 B)|(e,24e)|(10,744)|(9,320)|(43,e62)|
||66.465|3;l,349|Jb,92b|I2^9|1$2.791|41-594|
|Cap¡tal and Rêseryes|||||||
|Shars capitâl|5,000|
5,000|30,000 30,000||35,000|35,000|
|Prof¡t and Loss Account|||||||
|Shareholders' Funds|||||||
##
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|DIRECT STAFFCOSISAND EMPLOYEES|||
|---|---|---|
||Group
General|Group
GeneÉl|
||2022|2021|
||f|e|
|Salaries|576í40|541,214|
|Pension contr¡bulions|62,109|51,589|
|Soc¡alSecur¡ly costs|51,220|50,779|
||____999199_|643,58r|
|fhenumborofemploy€es whoseêmluments(sâlar¡esândbenef¡ts ¡n kind) fell w¡th¡nlhefollowingbands:|||
||2022|2021|
||Number|Nuñber|
|Ê70.000-Ê79.999||1|
|t80,000-Ê89,999|1||
|t90,000^Ê99.999|||
|e100,000-Ê109,s99|1||
##
|Theaverage nùmberof staffemploy6dwas 11 (2021:12)
casual and part lime staff) during thepe¡¡odwas asfoìlore:|ândtheaverage numberoffull-l¡meequivalenlemploy|ees (¡nclud|
|---|---|---|
||2022|2421|
||Number|Number|
|Ëducatìon|1|1|
|Vgluntee¡¡ng|2|3|
|Membership Seryices|||
|||12|
##
##
|E)|comparåtives) are discl
AUDITORS'FEES|osed in nole5a.|||||
|---|---|---|---|---|---|---|
||||||Group|Gtoup|
||||||2022|2021|
||||||€|€|
||Audit||||23,341|20.107|
||Areas
Tãxâ{ion s6rvices||||1.360
2.525|1.008
2,215|
|f)|DEPRECTATTON||||||
||DepræialiononoMed|assets|||_-91,339_|_____Zg&9-|
|g)|ANALYSIS OF GRANTS AWARDEDINTHE YEAR||||||
||||Numbsr|Iumbo.|Group|Group|
||||m22|2021|2022|2021|
||||||Ê|Ê|
||Des¡gnated Funds
General Funds|Educat¡on grants
Volunteeriñg grants|031
169
16S|319
288|155,961
'155,961|119,684
4,676
124,360|
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|The allocationofsupport costs and overheads an
the General FundisshownInthe table below:|dhowthese were al|locâled between|Governance and|Governance and|Char¡tableAct¡vit¡es|Char¡tableAct¡vit¡es|within|
|---|---|---|---|---|---|---|---|
|2022|Education
t|Volunteetino-
€€|MembârshiD
serytces||Govèrnance
I||Total
f|
|Costsdirectlyallocatedtoact¡vitiês||||||||
|Staff Costs|92,490|148,024||282,695||50,823|574,032|
|Staff and Volunteering expenses|1,239|7,161||14,717||28,446|51,563|
|Grants||||||||
|Publicity and events cosls|45.815|884||661|||47,360|
|Legal and Prolessionalfees(incAuditfees)||||||96,269|96,269|
|Support costs directly allocated|9,702|3,500||13,348||11,431|37,981|
|Total Direct Costs|149,2ß|
159,569||
311,421||186,969|807.205|
|Supportcostsapport¡onedto activities||||||||
|by usage||||||||
|Staff Costs|34,685|37,084||72,375|||144,144|
|Staff and Volunteer expenses|804|860||1,678|||3,342|
|lnformâtion Technology|'15,301|16,359||31,927|||63,587|
|General Office|2,877|3,076||6,003|||II,956|
|Premises|11,745|12,558||24,508|||48,81I|
|Stationery, Printing, Postage andïelephone|6,378|6,8r9||13,308|||26,505|
|Depreciation|19,510|20,860||40,711|||81,081|
|GÕvernance costs allocâted to activities|44,873|48,612||93,485||(186,969)||
|Total Support Costs||||||||
|Total General Fund Expendlture||||||||
|202'l|Education|Education|Volunteering|Memborship
Seru¡ces|Govefnance|Totâl|
|---|---|---|---|---|---|---|
||€||€|f|€|Ê|
|Costs directly allocatedto activitiês|||||||
|Staff Costs|84,536||156,216|249.967|42,020|532,739|
|Staff and Volunteêr¡ng expenses|45,436||6,499|1,492|18,118|71,545|
|Granis|||4,b/b|||4,676|
|Public¡tyand êvents cosls||81|105|504||690|
|Legal and Professionalfees(incAuditfees)|||||81,991|81,991|
|Support costs directly allocated|||3,363|11,248|15,131|29,742|
|Total Direct Gosts|||||||
|Support costs apportionedto activities|||||||
|by usage|||||||
|Staff Costs|29.708||39,030|60,126||128,864|
|Staff and Volunteer expenses||131|172|265||568|
|lnformation Technology|1|2,983|17,057|26,276||56,31 6|
|General Office||1,973|2,s92|3,992||8,557|
|Prem¡ses|1|1,905|15,640|24,094||51,639|
|Stationery,Pr¡ntìng,Postage and Telephone||7,155|9,400|14,481||31,036|
|Depreciation|17,085||22,446|34,578||74,109|
|Governance costs allocated to act¡vit¡es|20,444||26,734|110,092|(r57,260)||
|Total Support Costs|||||||
|Total General Fund Expend¡turê|||||||
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|5
TANGIBLE FIXED ASSETS||||
|---|---|---|---|
||Group&
Charity|Group&Gharity|Total|
||Freehold
Property|Furniture, Fixtures||
|||&Equipment||
||I|t|Ê|
|Cost||||
|As at1January|824,824|153,809|978,633|
|Additionsintheperiod||15,903|15,903|
|Asat 31December|824.824|169,712|994,536|
|Depreciation||||
|As at1January|86,735|120,843|207,578|
|Chargeforperiod|11,429|27,947|39,376|
|Asat 31December|98,164|148,790|246,954|
|Net BookValue||||
|31December2022|726,660|____20,922_|__147_,582_|
|31December2021|738,089|32,966|771,055|
##
|6
INTANGIBLE FIXED ASSETS||
|---|---|
||Wcbsite|
||f|
|Cost||
|As atIJanuary|183,844|
|Additionsintheperiod|40,906|
|As at3lDecember|224,750|
|Amortisation||
|As at1January|81,993|
|Chargeforperiod|44,950|
|As at3lDecember|126,943|
|Net BookValue||
|31 December2022|97,807|
|31 December2021|101,851|
##
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|8
INVESTMENTS|||||
|---|---|---|---|---|
||Group||Châr¡ty||
||2022|2021|2022|2021|
||€|s|€|€|
|unrestr¡ctêd Funds|||||
|Unlisted ¡nvestment - at cost|||||
|Subs¡d¡arycompan¡es:|||||
|-
NADFAS Enterprises Ltd|||5,000|5,000|
|-
NADFAS ToursLtd|||30,000|30,000|
|Listed lnvestmonts - åt market value|||||
|Rathbone Brothers Plc managedportfol¡o|957,084|1,123,334|957,084|1,123,334|
|Eouitv Un¡ts/Shares:
cCLACOIF incomeunits|595.225|672,577|595,225|672,577|
||1.552.309|1.795.911|1.587.309|1,830.911|
||Group||Chârity||
||2022|202'l|2022|2021|
||t|e|f|Ê|
|Reconcìliat¡on of movement¡ninvestments;|||||
|Asat1January|1,795,911|1,727,911|1,830,911|1,762,911-|
|Additìons|||||
|Disposalproceeds||(135,225\||{135,225)|
|Net (losses) /gâ¡nson investments|||||
|Market value at 31 December|||||
|Historicalcost|'1,390,915|1,390,915|1.425.915|1.425.915|
|Reconc¡l¡at¡onof movementinunreal¡sedgains/|||||
|lossesin¡nvestments, excluding sutsidiar¡es:
Unrealised ga¡nsat1Januãry|404,996|264,726|404,996|
264,726|
|Elimination of unreâlisedga¡nson d¡sposâls||(4,029)||(4,02e)|
|Net (decrease)/¡ncrease arising on revaluâtionsintheper¡od|I161,364)|144.299|(161,364)|'144.259|
|Unreâlisedgainâs ãt 31 December|243.632|404.996|243,632|¿o¿906|
##
##
##
##
|I
CREDITORS:amountsfallingdue w¡th¡n|oneyear||||
|---|---|---|---|---|
||Group||Charity||
||2022|2021|2022|2021|
||Ê|Ê|€|Ê|
|GeneralFunds:|||||
|Trade creditors|26,134|5,333|26,134|5,333|
|Other creditors|3,377||3,377||
|Other taxes and social security costs|35,412|34,782|23,719|'15,485|
|Accruals|42.062|48,704|31,527|39,143|
|Deferred income|215,712|169,043|166,1 13|1't5,308|
|Designated Funds:|||||
|Loans-Patricia Fay Memorial Fund|5'19,920|531,420|519,920|531,420|
|Accruals||47 655||47|
||||790||
##
|Loans tothePatrlcia Fay Memorial Fund from Societi
TheArtsSociety.
1ODEFERRED INCOME|es are interestf|ree,repa|yable on dem|and and|guarante|ed by|
|---|---|---|---|---|---|---|
|||Group|||Gharity||
||2022||2021|2022||2021|
||€||Ê|€||Ê|
|As at1January|169,043||284,076|115,308||244,320|
|Amountsdeferred during the period|215,712||169,043|166,1|13|115,308|
|Amountsreleased during the period|||||||
|Bafances carried forward as at 31 December|2|12|169||||
##
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|13ANALYSIS OF GROUP NET ASSETS BETWE|ENFUNDS|||
|---|---|---|---|
||General|Designated|Total|
||2022
€[|2022|2022
€|
|Tangible fixed assets|40,431|707,151|747,582|
|Intangible fixed assets|97,807||97,807|
|lnvestments|488,219|1,064,090|1,552,309|
|Current assets|359,894|123,530|483,424|
|Creditors: amounts falling due within oneyear||920|61|
|TOTALNETASSETS||||
||General|Designated|Total|
||2021|2021|2021|
||€|Ê|Ê|
|Tangible fixed assets|32,966|738,089|771,455|
|Intangible fixed assets|101,852||101,852|
|lnvestments|573,432|1,222,479|1,795,911|
|Current assets|408,312|634,033|1,042,345|
|Creditors: amounts falling due within oneyear
TOTALNETASSETS|703|075
I
526
2|4|
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