**Charity registration number 1111015** **Company registration number 05467341 (England and Wales)** **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022** ## **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **LEGAL AND ADMINISTRATIVE INFORMATION** **Trustees** Mr D Neenan Mr J Munnelly **Charity number** 1111015 **Company number** 05467341 **Registered office** Holly Lane Erdington Birmingham B24 9LH **Accountants** LMH Accountants Ltd T/A Trevor Jones & Co Old Bank Chambers 582-586 Kingsbury Road Erdington Birmingham B24 9ND ## **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **CONTENTS** ||**Page**| |---|---| |Trustees' report|1| |Statement of trustees' responsibilities|2| |Accountants' report|3| |Statement of financial activities|4| |Balance sheet|5| |Notes to the financial statements|6 - 10| ## **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ The trustees present their report and financial statements for the year ended 31 March 2022. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016) ## **Objectives and activities** The charity 's object ive is to help people of Irish origin of all ages in education, arts, culture, Gaelic sports and employment assistance. The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. ## **Achievements and performance** ## **Financial review** It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees considers that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity' s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year. The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. ## **Structure, governance and management** The charity is a company limited by guarantee without share capital. The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: Mr D Neenan Mr J Munnelly None of the trustees ha ve any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. The trustees' r eport was approved by the Board of Trustees. Mr D Neenan **Trustee** Mr J Munnelly **Trustee** 27 June 2022 - 1 - ## **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** ## _**FOR THE YEAR ENDED 31 MARCH 2022**_ The trustees, who are also the directors of Erin Go Bragh Development Association Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable UK A ccounting S tandards have been followed, subject to any material departures disclosed and explained in the financial statements and ; - prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. - 2 - ## **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **CHARTERED ACCOUNTANTS' REPORT TO THE TRUSTEES ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED FOR THE YEAR ENDED 31 MARCH 2022** In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Erin Go Bragh Development Association Limited for the year ended 31 March 2022, which comprise the statement of financial activities and the related notes from the charity’s accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation This report is made to the charity's trustees, as a body, in accordance with the terms of our engagement letter dated 17 June 2021. Our work has been undertaken solely to prepare for your approval the financial statements of Erin Go Bragh Development Association Limited and state those matters that we have agreed to state to the charity's trustees, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Erin Go Bragh Development Association Limited and the charity's trustees as a body, for our work or for this report. It is your duty to ensure that Erin Go Bragh Development Association Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and surplus of Erin Go Bragh Development Association Limited. You consider that Erin Go Bragh Development Association Limited is exempt from the statutory audit requirement for the year , and is not required to obtain an independent examiner's report.} We have not been instructed to carry out an audit or a review of the financial statements of Erin Go Bragh Development Association Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. ## **LMH Accountants Ltd T/A Trevor Jones & Co** 30 June 2022 ## **Chartered Accountants** Old Bank Chambers 582-586 Kingsbury Road Erdington Birmingham B24 9ND - 3 - ## **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 MARCH 2022**_ |**Notes**
**Income and endowments from:**
Donations and legacies
**2**
Charitable activities
**3**
**Total income**
**Expenditure on:**
Charitable activities
**4**
**Net income for the year/**
**Net movement in funds**
Fund balances at 1 April 2021
**Fund balances at 31 March 2022**|**2022**
**£**
35,290
22,460
57,750
49,320
8,430
66,835
75,265|**2021**
**£**
65,924
10,658
76,582
52,672
23,910
42,925
66,835| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. - 4 - ## **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **BALANCE SHEET** ## _**AS AT 31 MARCH 2022**_ |**Notes**
**Fixed assets**
Tangible assets
**7**
**Current assets**
Debtors
**8**
Cash at bank and in hand
**Creditors: amounts falling due within**
**one year**
**9**
Net current assets
**Total assets less current liabilities**
**Income funds**
Unrestricted funds|**2022**
**£**
773
50,820
51,593
(748)|**£**
24,420
50,845
75,265
75,265
75,265|**2021**
**£**
739
62,678
63,417
(1,059)|**£**
4,477
62,358
66,835
66,835
66,835| |---|---|---|---|---| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These 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 Trustees on 27 June 2022 Mr D Neenan **Trustee** Mr J Munnelly **Trustee** ## **Company registration number 05467341** - 5 - **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** ## **Charity information** Erin Go Bragh Development Association Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Holly Lane, Erdington, Birmingham, B24 9LH. ## **1.1 Accounting convention** The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling , which is the functional currency of the charity . Monetary a mounts in these financial statements are rounded to the nearest £. ## **1.2 Going concern** At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. ## **1.4 Income** Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. - 6 - **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** **(Continued)** ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. Expenditure is accounted for on an accrual basis and has been clarified under headings that aggregate all costs relating to the category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Leasehold improvements 2% straight line Plant and equipment 20% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities . ## **1.7 Impairment of fixed assets** At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) . ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. - 7 - **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the charity ’s contractual obligations expire or are discharged or cancelled. ## **1.9 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **2 Donations and legacies** |Donations and gifts
Grants received|**2022**
**£**
290
35,000
35,290|**2021**
**£**
260
65,664
65,924| |---|---|---| ## **3 Charitable activities** |R ental income
Other income|**2022**
**£**
22,460
-
22,460|**2021**
**£**
10,283
375
10,658| |---|---|---| - 8 - **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ ## **4 Charitable activities** |Depreciation and impairment
Rent and Rates
Repairs and maintenance
Insurance
Motor running expenses
Accountancy
Printing and stationery
Sundry expenses
Charitable expenditure heading 10|**2022**
**£**
2,057
37,431
7,610
809
160
748
89
401
15
49,320
49,320|**2021**
**£**
1,661
41,000
8,131
795
310
738
-
37
-
52,672
52,672| |---|---|---| ## **5 Trustees** None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year. ## **6 Employees** The average monthly number of employees during the year was: |**2022**|**2021**| |---|---| |**Number**|**Number**| |2|2| There were no employees whose annual remuneration was more than £60,000. - 9 - ## **ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED** ## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_ |**7**
**Tangible fixed assets**
**Leasehold**
**improvements**
**Plant and**
**equipment**
**£**
**£**
**Cost**
At 1 April 2021
-
9,184
Additions
22,000
-
At 31 March 2022
22,000
9,184
**Depreciation and impairment**
At 1 April 2021
-
4,707
Depreciation charged in the year
220
1,837
At 31 March 2022
220
6,544
**Carrying amount**
At 31 March 2022
21,780
2,640
At 31 March 2021
-
4,477
**8**
**Debtors**
**2022**
**Amounts falling due within one year:**
**£**
Prepayments and accrued income
773
**9**
**Creditors: amounts falling due within one year**
**2022**
**£**
Accruals and deferred income
748
**10**
**Related party transactions**|**Total**
**£**
9,184
22,000
31,184
4,707
2,057
6,764
24,420
4,477
**2021**
**£**
739
**2021**
**£**
1,059| |---|---| There were no disclosable related party transactions during the year (2021 - none) . - 10 -