Charlty reglstratlon number 1111015 Company registratlon number 05467341 {England and Wales) ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr D Neenan Mr J Munnelly Mr J Coyne (Appointed 1 April 2024) Charfty number 1111015 Company number 05467341 Reglstered offlce Holly Lane Erdington Birmingham B24 9LH Accountants LMH Accountants Limited TIA Trevor Jones & Co Old Bank Chambers 582-586 Kingsbury Road Erdington Birmingham B24 9ND
ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED CONTENTS Page Trustees, report Statement of trustees, responslbilities Accountant8, report Statement of financial activities Balance sheet Notes to the financial statement3 6-10
ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their report and financial statements for the year ended 31 March 2024. 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 accordan 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) Objectlves and activities The charity's objective is to help people of Irish origin of all ages in education, arts, culture, Gaelic sports and employment assistance. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. Achievements and perfomiance Flnancial review Resee$ policy 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. Major risks 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 Mr J Coyne (Appointed 1 April 2024) Recltment and appointment of tmstees None of the trustees have 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, report was approved by the Board of Trustees. Mr D Neenan Trustee Mr J Munnelly Trustee Date..
ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 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 Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial ststements and., prepare the financial statements on the going concem 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.
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 2024 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 2024, 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.'lth.icaew.comlregulation. This report is made to the charity's trustees, as a body, in accordance with the terms of our eng&3ement letter dated 15 March 2023. 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 07116 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility lo 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 io ensure that Erin Go Bragh Developmenl Association Limited has kept adequate acojunting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial posilion and surplus of Erin Go Bragh Development Association Limited. You consider that Erin Go Bragh Development Association Limited is exempl 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 statem6nls 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 givan to US and we do not, therefore, express any opinion on the statutory financial statements. Lrttr( LMH Accountants Llmlted TIA Trevor Jones & Co 202F Chartered Accountants Old Bank Chambers 582-586 Kingsbury Road Erdington Birmingham B24 9ND
ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlcted funds 2024 Unrestrlcted funds 2023 Notes Incomg from: Grants Charitable activities 35,000 24,215 35,000 22,456 Total Income 59,215 57,456 Expondlture on: Charitable activities 47,491 51,222 Total expendlture 47,491 51,222 Net Income and movement In funds 11,724 6,234 Reconclllatlon of funds". Fund balances at 1 April 2023 81,499 75,265 Fund balances at 31 March 2024 93,223 81,499 The stalement of financial activities includes all gains and losses recognised in tha year. All income and expenditure derive from continuing activities.
ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets 21,392 22,834 Current assets Debtors Cash at bank and in hand 10 815 58,647 71,840 72,682 59,462 Credltors: amounts falllng due wlthln one year 11 18511 1797) Net curront a8sots 71,831 58,665 Totsl assets less current Ilabllltles 93,223 81,499 Net assets excludlng penslon Ilablllty 93,223 81,499 The funds of the charlty Unrestricted funds 93,223 81,499 93,223 81,499 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year 8nded 31 March 2024. The director5 acknowledge their responsibililies 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 queslion in accordance with section 478. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial slatements were approved by the trustees on Mr D Neenan Trustee Mr J Munnelly Trustee Company registration number 05467341 {England and Wales)
ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies Charlty Informatlon 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, 824 9LH. 1.1 Accountlng conventlon The accounts have been prepad in accordance wth the charty's goveming 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 historicAI cost or transaction value unless otherwise stated in the relevant accounting policy notels). The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Updats Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterting. which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Golng 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 trtee5 continue to adopt the going concem basis of accounting in preparing the financial statements. 1.3 Charltable funds Unrestricted funds are available for use at the discretion of the trustees in fvrtherance 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, Ihe 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 perfomiance 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 knoym, the legacy is treated as a contingent asset. 1.5 Expendlture Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third paty, 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 dIrt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributatrAe to a single activity are allocated diredly 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.
ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (Contlnued) 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 Tanglble 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 wrile off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Leasehold improvemenls Plant and equipment 20/0 slraight line 20°/o Straight line The gain or108s 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 Impalmient of flxed assets Al each reporting end date, the charity reviews the carrying amounts of its tangible assets 10 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 lif any}. 1.8 Cash and cash equlvalents 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. Baslc financlal assets Basic financial assels, 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 Iransaction 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 ar8 not amortised, Baslc financial liabilitles 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 payments 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-currenl liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. Derecognition of financlal liabllities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.
ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from grants Unrestrfcted funds 2024 Unrestrlcted funds 2023 Grants 35,000 35,000 Income from charitable activities Unrestrlcted funds 2024 Unrestricted funds 2023 Income Rental income 24,215 22,456 Expendlture on charitable actlvttles Expenditure Expenditure 2024 2023 Dlrect costs Depreciation and impairment Rent and Rates Repairs and maintenan Insurance Motor running expenses Accountancy Printing and stationery Course fees Sundry expenses Bank charges 1,442 35,923 7,339 892 369 864 32 346 203 81 2,286 35.948 10,786 351 823 12 87 83 47,491 51,222 Analysis by fund Unrestricted funds 47,491 51,222 Net movement In funds 2024 2023 The net movement in funds is stated after chargingl{crediting): Depreciation of owned tangible fixed assets 754 2,286 Impairnients.. Total SOFA chary• or credit diffet5 fmm BS notes by.. (688)
ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustees None of the trustees (or any persons connected Vth them) reIVed any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was". 2024 Number 2023 Number There were no employees whose annual remuneration was more than £60,000. Taxatlon The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. Tangible fixed assets L•asehold improvements Plant and equipment Total Cost At 1 April 2023 Disposals 22.000 9,884 (700) 31,884 (700} At 31 March 2024 22,000 9,184 31,184 Depreclation and Impairment At 1 April 2023 Depreciation charged in the year Eliminated in respect of disposals 660 440 8,390 314 {12) 9,050 754 (12) At 31 March 2024 1,100 8,692 9,792 Carrylng amount At 31 March 2024 20,900 492 21,392 At 31 March 2023 21,340 1.494 22,834 10 Debtors 2024 2023 Amounts falllng due wlthln one year: Prepayments and accwed income 842 815
ERIN GO BRAGH DEVELOPMENT ASSOCIATION LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 11 Credltors: amounts falllng due withln one year 2024 2023 Accruals and deferred income 851 797 12 Unrestrlcted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. At 1 Aprll 2023 Incomlng resources Resources At 31 March expended 2024 General funds 81,499 59,215 (47,491) 93,223 Prevlous year: At 1 April 2022 Incomlng resources Resources At 31 March expended 2023 General funds 75,265 57.456 {51,222) 81,499 13 Related party transactions There were no disclosable related paty transactions during the year (2023 - none). 10-