**CHARITY REGISTRATION NUMBER: 1122387 COMPANY REGISTRATION NUMBER: 06100801**
## **IRISH CULTURAL CENTRE, HAMMERSMITH LTD**
**(A COMPANY LIMITED BY GUARANTEE)**
**REPORT OF THE TRUSTEES AND**
**AUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2021**
IRISH CULTURAL CENTRE, HAMMERSMITH LTD CONTENTS
||**Page**|
|---|---|
|Reference and Administrative Details|1|
|Report of the Trustees|2 to 6|
|Independent Auditors' Report to the Trustees|7 to 9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Statement of Cash Flows|12|
|Notes to the Financial Statements|13 to 20|
IRISH CULTURAL CENTRE, HAMMERSMITH LTD REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 2021
|**Trustees:**|Dr Ivan Anthony Gibbons|
|---|---|
||Seamus McGarry|
||Jim O'Hara|
||Michael Timothy Kingston|
||Rosalind Scanlon|
||Peter Joseph Power-Hynes|
||Dr Anne Goudsmit|
||Claire Marie Tighe|
||Anthony Harte|
|**Company Secretary:**|Seamus McGarry|
|**Registered Office:**|5 Black's Road|
||London|
||W6 9DT|
|**Registered Company Number:**|06100801 (England and Wales)|
|**Registered Charity Number:**|1122387|
|**Auditors:**|Mercer & Hole Chartered Accountants|
||Batchworth House|
||Batchworth Place|
||Church Street|
||Rickmansworth|
||Hertfordshire|
||WD3 1JE|
|**Principal Office:**|5 Black's Road|
||London|
||W6 9DT|
|**Bankers:**|Lloyds Bank|
||21-25 King Street|
||HammersmithLondon|
||W6 9DT|
1
## IRISH CULTURAL CENTRE, HAMMERSMITH LTD REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2021
The trustees, who are also directors of the charity for the purposes of the Companies Act, submit their annual report and the draft audited financial statements for the year ended 31 March 2021. The trustees have adopted the provisions of the Statement of Recommended Practice (SORP 2019) "Accounting and Reporting by Charities" (FRS102) in preparing the annual report and financial statements of the charity.
## **About us and our plans for the future**
Since its official opening in 1995, the Irish Cultural Centre in Hammersmith has been a key destination for people of all heritages and generations to enjoy the best of Ireland’s precious culture in London.
Our Centre delivers an ever expanding range of classes, lectures and conferences, cultural events,
performances and community activities. In partnership with Barbara Stanley, the renowned Irish art consultant, we maintain a rolling programme of contemporary art exhibitions.
To invest in the future of the Centre we are continuing to fit out the space to meet current and anticipated future demands and have now completed the foyer, reception and bar. Thanks to the generosity of the London Borough of Hammersmith and Fulham, the Arts Council England, and the Irish Government we have the fixtures, facilities and equipment now in place to provide a fully functioning performance facility.
## **Cultural Highlights**
In response to the COVID-19 crisis we were obliged to close our doors to live performances on 16th March, following which we adapted to the restrictions of Lockdown by altering radically the way in which we showcased the best of Irish culture. In April we launched our highly successful online platform 'ICC Digital' which became not only the UK centre but also a global hub for Irish culture and arts. The highlights of this new digital venture included many films produced using social distancing rules: ‘The ICC Seisiuns’ – 14 Lockdown concerts featuring local Irish artists; a special St Patrick’s Session film; original documentary films featuring W B Yeats and James Joyce; a storytelling feature for St Brigid’s day; and a film based on Timothy's O'Grady's award winning book I Could Read the Sky. In autumn we transmitted a Digital Literary Festival which comprised recorded interviews with 10 well known authors including internationally acclaimed writers John Banville, Colum McCann, Roddy Doyle and Emma Donoghue. We also launched a new digital series of literary interviews whereby established authors introduce debut and emerging writers. Moreover, our diverse programme during this period also featured a comedy series 'Lockdown Tour’ featuring the well-known stand-up comedian Maureen Sullivan.
In addition, we produced a radio show ‘Bright Side Of The Road’ comprising 15 episodes which was broadcast on two of London’s most successful independent radio stations (Portobello Radio and Resonance FM) and it was subsequently transmitted on NEARFM radio station in Dublin. Much of our recorded material was subsequently made available in podcast form, thereby extending our audience even further. We established a highly original project ‘The Culture Hotline’ a free series of live performances by highly successful Irish artists and musicians. This was accessible online and by phone with the objective of reaching those most at risk of loneliness and isolation. Although COVID-19 altered how we as an Arts centre operated, ICC Digital has proved so successful that we are now committed to including it in all our medium and long terms plans.
## **Aims and Objectives**
## Purposes and aims
Our charity’s purposes as set out in the objects contained in the company’s Articles and Memorandum of Association are to:
advance the public’s education in the history and culture of Ireland by maintaining an Irish Cultural Centre which provides an open access programme of Irish arts and music and community activities of the highest quality and attracts people of all ages, different interests and diverse heritages.
## The focus of our work
As noted in our Articles and Memorandum of Association, in order to further our objects, we aim to:
- Provide an events programme which celebrates Irish culture and balances traditional and contemporary art forms
- Advance the education of the public in the subject of Irish culture and keep it alive for future generations.
- Encourage other communities to celebrate their cultures and provide discounted facilities and services for the third sector; and to
- Generate income from the Centre’s activities through a balance of free, low cost and full price services in order to extend the programme and make Irish culture truly accessible.
2
IRISH CULTURAL CENTRE, HAMMERSMITH LTD REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
## **Ensuring our work delivers our aims**
We review our aims, objectives and activities each year. We look at the outcomes of our work and what was achieved in the previous 12 months and assess the success of each of our main activities and the benefits they have brought to those we aim to serve.
The trustees also consider how planned activities will contribute to our stated aims before they are approved in order to ensure that we remain focused on our stated purposes. In addition, there is external scrutiny by our major grant giver, The Department of Foreign Affairs & Trade (DFA&T) of the Irish Government who provide a restricted grant through their Emigrant Support Programme (ESP). They receive quarterly and annual performance reports and carry out full audits of the programme spend and procedures on a cyclical basis. We are very grateful for this generous and ongoing support from the Irish Government and the support we received from Hammersmith and Fulham Council in assisting us with our fit out.
## How our activities deliver public benefit
All our charitable activities are designed to promote Irish culture through a programme of arts, music and community activities and are undertaken to further our charitable purposes for the public’s benefit. We aim to deliver a programme of Irish arts and culture which is open, welcoming and available to all. We provide a balance of free, low cost and full priced events in order to make our services truly accessible. In addition, there are opportunities to volunteer on all of our programmes, so that people can contribute to the centre while simultaneously benefiting from our cultural programme.
We estimate that approximately 200,000 beneficiaries benefited from our services in 2020/21. This includes approximately 20,000 local people who identified themselves as being Irish born or of Irish heritage when booking services, but the total number reflects the global digital engagement we attained throughout the pandemic. Our elders’ programme consists of mainly Irish born pensioners who come to enjoy our Tea Dance and our special elders’ activities. Our Adult Education programme attracts many second and third generation Irish people who are keen to explore and develop their knowledge or Ireland’s culture. Our classes attract a significant numbers of students from many other cultures, who come to enjoy and explore Irish culture for the first time. Children and young people make up a large proportion of our music students, often starting at a very young age. A large proportion of these stay with us until they are accomplished performers and either join our most advanced adult classes and/or return year after year to perform at the Centre and at other venues. Our performance programme attracts a varied audience from all over London and much further afield who are from a wide range of different backgrounds, cultures, generations and interests. The Centre holds an open door policy through which it welcomes everyone of all backgrounds to come and enjoy, explore and to participate in Irish arts.
The Centre plays an active role within the wider community. Annually we support and participate in the Mayor for London’s sponsored St Patrick’s Day Celebrations; we offer outreach arts services to local schools and community groups and we develop partnerships with other multi-cultural groups and organisations. Each year we partner with the local H&F Arts Festival (Hammersmith & Fulham) and also with H&F’s Black History Month. We partner with Irish Heritage UK and with The Irish Literary Society UK. We also participate in a local Business Forum’s Annual Arts Festival, ‘Hammersmith Bid Fest’ and we present events to mark ‘International Women’s Day’, ‘National Poetry Day’ and ‘Gay Pride’.
Having successfully completed most of the fit out of our rooms, we are now able to resume our offer of accommodation and discounts to other voluntary sector groups and public services in the Borough and other charities. We continue to maintain and build new relationships with local public and voluntary organisations through our collaborative and outreach initiatives.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding which activities the charity should undertake.
## **Our cultural programme**
Our cultural programme has three main strands: education, performance, and community.
Education: the Irish Cultural Centre is well known throughout the UK for presenting very best of Irish culture, but central to our work is our commitment to education. In 2020/21 our classes included Irish music and singing, complemented by visiting master musician tuition and regular sessions for students and tutors alike; Irish language for beginners and improvers, poetry and literature classes on prose and creative writing and a new History of Irish Art course. With the generous support of the Irish Youth Foundation, we offer an annual youth scholarship programme that provides instruments and free tuition for selected children and young people who could not otherwise access our services. Our summer history lectures, which are presented by prominent Irish commentators, reached its tenth year, and continues to be highly successful and sought after. Due to COVID-19 our education programme was delivered completely online but nevertheless still attracted many students who wished to engage with Irish culture. Our much-loved Irish Library is now being redeveloped and we hope that it will be open to the public in 2022.
Performance: over the years we have established a strong performance programme with the aim of promoting a range of expressions of Irish culture, including traditional and contemporary music, dance, film, drama, visual art and literature. Besides providing regular opportunities for our students of all ages and stages to perform, we provide a crucial channel for Irish performers and artists to reach London audiences and engage in cross-cultural events. This helps to maintain a strong awareness of Irish heritage and identity within London’s culturally diverse population. A good example of this is our annual participation in Hammersmith & Fulham’s Arts Festival: over many years
3
## IRISH CULTURAL CENTRE, HAMMERSMITH LTD REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
this joint project has enabled us to develop very strong links with many rich and diverse local multi-cultural groups and communities who have come to enjoy and participate in some of our cultural cross-fusion events. This includes our Celtic Caribbean Crossings Concerts and our monthly Cross Cultural Storytelling Club Events, which invites international storytellers from a wide range of cultural backgrounds to perform at the Centre. We are committed to providing a welcoming space for all people, of all ages and from all cultural backgrounds Due to COVID-19 our rich cultural programme of recorded music performances, films, literary interviews and readings was delivered online at no cost to our patrons from whom we received much positive feedback.
Community: our elders’ classes in poetry, reading, singing and reminiscence are well attended and continue to welcome new members each term. Our successful daytime and evening pensioner’s dances have now returned to our new premises and this has enabled us to retain our traditional audience and attract new participants. Through the provision of our community events we aim to help reduce social isolation and loneliness within the community. In 2020/21 due to the pandemic our outreach work with the community was achieved through our new venture ‘The Culture Hotline’. This programme was accessible both online and via the telephone, enabling our patrons to dial in to listen to a concert or other event. It also offered assistance to those who may have been feeling lonely, anxious or afraid during the pandemic, with Counsellors Advice networks involved who were on-line and available to anyone who needed extra help. This unique project was supported by the H&F Local Council. We also liaised with Age UK to present a St Patrick’s Culture Hotline Celebration.
## **Financial review**
The Irish Cultural Centre registered as a charity on 21st January 2008 and so these are the organisation’s eleventh accounts.
The trustees are of the opinion that the ICCH will continue as a going concern in the foreseeable future period, this being 12 months from the date these financial statements are approved. This opinion has been concluded through the review of income and cost, budgets, cash flow forecast and strategic planning. Our main grant funds key posts and programmes and we have secured some match for these. We do, however, recognise that 2020/21 was a particularly challenging period as the pandemic forced us to close our doors so that all income was suspended, rendering the company grant and donation reliant.
Finally, no financial review would be complete without acknowledging the vast contribution from our many hardworking volunteers. We really do appreciate their assistance which is essential to the ongoing success of the ICC. It is also noteworthy that a significant number of them have volunteered here for many years.
## Investment policy
The company’s reserves are placed on interest-bearing deposit accounts with prime banks. The maturity profiles of such deposit accounts are reviewed to ensure they are commensurate with the Centre’s financial needs.
No other forms of investment are undertaken.
The investment policy is reviewed and confirmed by the board of trustees each year at the charity’s annual general meeting.
## **Reserves policy**
The trustees of the Irish Cultural Centre Hammersmith Ltd believe the charity should hold financial reserves because:
- I. it has no endowment funding and is largely dependent for income upon donor funding from year to year which is inevitably subject to fluctuation; and
- II. it requires protection against, and the ability to continue operating despite, catastrophic or lesser but damaging events.
The trustees believe the appropriate level of the financial reserves should be the equivalent of three months’ essential operating costs calculated and reviewed annually in June and believe the financial reserves should be built up to the desired level in stages over three years, consistent with the charity’s overall financial position and need to maintain and develop its charitable activities.
It remains our aim to build up our reserves over a period of three years, once our capital project has been completed. Our immediate priority has been to get the new centre up and running and to maximise its potential as a vibrant cultural hub and to maximise its income potential.
Total funds held at the year-end were £2,045,058 of which £2,019,602 were restricted.
4
IRISH CULTURAL CENTRE, HAMMERSMITH LTD REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
## **Structure, governance and management**
The organisation is a charitable company limited by guarantee, incorporated on 13 February 2007 and registered as a charity on 21 January 2008.
## Governing document
Memorandum and Articles of Association incorporated 13 February 2007 as amended by special resolution dated 2 August 2007, 10 January 2008 and 26 February 2009. This document is currently being reviewed by our legal advisors and an updated version will be filed at Companies House before 31 March 2022.
## Recruitment and appointment of the trustees
The directors of the company are also charity trustees for the purposes of charity law and are appointed to ensure a balance of professional skills on the organisation’s board of trustees.
Under the requirements of the Memorandum and Articles of Association at the first Annual General Meeting all the directors must retire from office. At each subsequent annual general meeting one-third of the directors must retire from office.
All trustees provide their time voluntarily and no benefits or expenses were paid to any director or trustee in the year to 31st March 2021.
## Trustee induction and training
The trustees are familiar with the obligations of trustees and the practical work of the charity, having been involved in planning and delivering its services.
New trustees are inducted by senior staff and trustees. On appointment they receive a copy of the Charity Commission’s ‘The Essential Trustee’, a copy of the Charity’s Memorandum and Articles of Association and copies of the most recent grant applications and financial and programme reports. Thereafter trustees receive financial, personnel and operational reports at each trustee meeting.
## Organisational structure
The board of trustees is responsible for the strategic direction, policy and priorities of the charity and meet every four to six weeks. As of 31 March, 2021 there were six trustees with a variety of professional backgrounds relevant to the work of the charity, and two new additions since the balance sheet date.
The General Manager, who reports directly to the board of trustees, is responsible for ensuring that the charity delivers the services specified and that key performance indicators are met. The General Manager is also responsible for the day-to-day operational management of our services and the individual supervision and development of the staff, service providers and volunteers.
## Risk management
The charity has conducted a review of the major risks to which the charity is exposed. A risk register has been established and is updated annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. The risk that loss of grant aid would pose is in part mitigated by income generated to fund services. Internal control risks are minimised by procedures for authorisation of transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers and visitors. Our child and vulnerable adult protection policy submitted to the Charity Commission has been updated to take account of Safeguarding requirements.
5
IRISH CULTURAL CENTRE, HAMMERSMITH LTD REPORT OF THE TRUSTEES (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
## **Statement of Trustees' responsibilities**
The trustees (who are also directors of the Irish Cultural Centre, Hammersmith Ltd for the purposes 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the 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 2019 (FRS102);
- 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 statement of accounts.
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the
- charitable company will continue in operation.
The trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the auditor is aware of that Information.
## **Auditors**
The auditors, Mercer & Hole, Chartered Accountants, will be proposed for reappointment at the forthcoming Annual General Meeting.
This report was approved by the Board of Trustees on 30 November 2021 and signed on its behalf by:
…………………………………………… …………………………………………… Peter Power-Hynes Anthony Harte Trustee & Chairman Trustee & Treasurer
6
## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF IRISH CULTURAL CENTRE, HAMMERSMITH LTD**
## **Opinion**
We have audited the financial statements of Irish Cultural Centre, Hammersmith Ltd (the 'charitable company') for the year ended 31 March 2021 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 March 2021 and of its income and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
- We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the trustees’ annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
## **Matters on which we are required to report by exception**
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:
- the information given in the financial statements is inconsistent in any material respect with the trustees' report; or
- the charitable company has not kept adequate accounting records; or
- the financial statements are not in agreement with the accounting records and returns; or
- we have not received all the information and explanations we require for our audit.
7
## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF IRISH CULTURAL CENTRE, HAMMERSMITH LTD (CONTINUED)**
## **Responsibilities of trustees**
As explained more fully in the trustees’ responsibilities statement set out on page 6, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error
In preparing the financial statements, the trustees are responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Auditor's responsibilities for the audit of the financial statements**
We have been appointed as auditor under section 145 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.
## **Use of our report**
This report is made solely to the charitable company’s members, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
## **Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud**
We gained an understanding of the legal and regulatory framework applicable to the charitable company and the hospitality sector in which it operates and considered the risk of acts by the charitable company that were contrary to applicable laws and regulations, including fraud. These included, but were not limited to, the Companies Act 2006 and SORP 2019.
We evaluated trustee’s incentives and opportunities for fraudulent manipulation of the financial statements and the financial report (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate entries including journals to overstate revenue or understate expenditure and management bias in accounting estimates.
Audit procedures performed by the engagement team included:
- discussions with management and trustees, including considerations of known or suspected instances of non- compliance with laws and regulations and fraud;
- gaining an understanding of management's controls designed to prevent and detect irregularities; and
- identifying and testing journal entries.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non- compliance and cannot be expected to detect non-compliance with all laws and regulations.
8
## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF IRISH CULTURAL CENTRE, HAMMERSMITH LTD (CONTINUED)**
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
**Jolene Upshall FCA (Senior Statutory Auditor)**
**For and on behalf of Mercer & Hole, Chartered Accountants**
Batchworth House Batchworth Place Church Street Rickmansworth Hertfordshire WD3 1JE Date: 23 December 2021
Mercer & Hole is eligible to act as auditor in terms of section 1212 of the Companies Act 2006.
9
## IRISH CULTURAL CENTRE, HAMMERSMITH LTD STATEMENT OF FINANCIAL ACTIVITIES (including the income & expenditure account) FOR THE YEAR ENDED 31 MARCH 2021
|**Notes**
**Income**
Voluntary income
**2**
Income from charitable activities
**3**
Investment income
**4**
**Total income**
**Expenditure**
**Charitable activities**
Programme costs
**5**
Governance costs
**6**
Other expenditure
**7**
**Total expenditure**
**Net income**
Transfer between funds
**Net movement in funds**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Unrestricted**
**Funds**
**£**
11,997
31,944
4
43,945
71,370
9,900
21,084
102,354
(58,409)
-
(58,409)
83,865
25,456|**Restricted**
**Funds**
**£**
440,990
-
-
440,990
348,404
-
-
348,404
92,586
-
92,586
1,927,016
2,019,602|**31/03/2021**
**Total Funds**
**£**
452,987
31,944
4
484,935
419,774
9,900
21,084
450,758
34,177
-
34,177
2,010,881
2,045,058|**31/03/2020**
**Total Funds**
**£**
344,905
301,699
13|
|---|---|---|---|---|
|||||646,587|
|||||611,156
3,790
15,850|
|||||630,796|
|||||15,791
-|
|||||15,791|
|||||1,995,090
2,010,881|
10
## IRISH CULTURAL CENTRE, HAMMERSMITH LTD BALANCE SHEET AS AT 31 MARCH 2021
|**Notes**
**Fixed assets**
Tangible assets
**10**
**Current assets**
Debtors
**11**
Cash at bank and in hand
**Creditors: amounts falling due within one year**
**12**
**Net current assets**
**Total assets less current liabilities**
**Net Assets**
**Funds**
Unrestricted funds
Restricted funds
**Total funds**|**Unrestricted**
**Funds**
**£**
20,123
3,842
18,850|**Restricted**
**Total Funds**
**Funds**
**31/03/2021**
**£**
**£**
1,965,391
1,985,514
16,000
19,842
88,544
107,394|**Restricted**
**Total Funds**
**Funds**
**31/03/2021**
**£**
**£**
1,965,391
1,985,514
16,000
19,842
88,544
107,394|**Total Funds**
**31/03/2020**
**£**
1,972,459
9,943
87,388|
|---|---|---|---|---|
||22,692
(17,359)|104,544
(50,333)|127,236
(67,692)|97,331
(58,909)|
||5,333|54,211|
59,544|38,422|
||25,456|2,019,602|2,045,058|2,010,881|
||25,456|2,019,602|2,045,058|2,010,811|
||||25,456
2,019,602
2,045,058|83,865
1,927,016
2,010,881|
These accounts have been prepared in accordance with the provisions applicable to companies’ subject to the small companies' regime.
The financial statements were approved and authorised for issue by the trustees on 30 November 2021 and signed on their behalf by:
……………………………
**Peter Power-Hynes - Trustee & Chairman**
…………………………… **Anthony Harte - Trustee & Treasurer**
## **Company Registration No.: 06100801**
11
IRISH CULTURAL CENTRE, HAMMERSMITH LTD STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021
|**Notes**
**Cash flow from Operating Activities**
**14**
**Cash flow from Investing Activities**
Payments to acquire tangible fixed assets
Interest received
Rent received
**Net cash flow from Investing Activities**
**Net increase / (decrease) in cash and cash equivalents**
**Cash and cash equivalents at 1 April 2020**
**Cash and cash equivalents at 31 March 2021**
Cash and cash equivalents consist of:
Cash at bank and in hand
Cash and cash equivalents at 31 March 2021|**31/03/2021**
**£**
54,141
(34,139)
4
-
(34,135)
20,006
87,388
107,394
107,394
107,394|**31/03/2020**
**£**
36,045|
|---|---|---|
|||(4,335)
13
-|
|||(4,322)|
|||31,723
55,565|
|||87,388|
|||87,388
87,388|
12
IRISH CULTURAL CENTRE, HAMMERSMITH LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021
## **1 Summary of significant accounting policies**
The following accounting policies have been used consistently in dealing with items which are considered material in relation to the charitable company's financial statements.
## **1.1 General information and basis of preparation**
The charity is a company limited by guarantee incorporated in England and Wales. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
The charity constitutes a public benefit entity as defined by FRS102 The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) as issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) issued in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at their fair value, and are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
## **1.2 Going concern**
These financial statements are prepared on the going concern basis. Since March 2020, COVID-19 has been dominating the world social and economic climate. The charity continues to operate in an environment of uncertainty associated with the current situation. The trustees have assessed the impact of the current governmental measures to combat COVID-19 on the charity’s ability to continue trading for the foreseeable future. They have concluded because of the governmental support offered, there are reasonable prospects of the charity being able to continue as a going concern. The charity has adapted to the changing situation by holding courses, classes and musical events online. The directors are continuously monitoring the situation and recognise that uncertainties exist that may impact significantly on future performance and challenge the applicability of the going concern basis.
## **1.3 Funds**
Funds held by the charity are either:
_**Unrestricted general funds**_ - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees, and which have not been designated for other purposes.
_**Restricted funds -**_ these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **1.4 Income recognition**
All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably, and it is probable that the income will be received.
For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.
13
IRISH CULTURAL CENTRE, HAMMERSMITH LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
## **1.3 Income recognition (continued)**
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report.
Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlement has occurred.
The charity receives government grants as detailed in Note 2. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received, and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.
## **1.4 Expenditure recognition**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required, and the amount of the obligation can be measured reliably. It is categorised under the following heading:
- Expenditure on charitable activities includes Programming Costs, governance costs and other expenditure including depreciation.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
## **1.5 Fixed assets**
Fixed assets are recorded at cost or, in cases where fixed assets have been donated to the Irish Cultural Centre, Hammersmith Ltd, at valuation at the time of acquisition.
## **1.6 Depreciation**
Depreciation is provided on all tangible fixed assets at rates calculated to write down the cost or valuation, less estimated residual value, of all tangible fixed assets, with the exception of freehold land, over their expected useful economic lives as follows:
|Freehold land and buildings|not depreciated (see note below)|
|---|---|
|Office equipment and fixtures and fittings|33% on cost|
No depreciation charge is made for the freehold building. The trustees carry out an annual impairment review to ensure the carrying value of the freehold building is fairly stated, and in the opinion of the trustees the net book value as shown in note 10 represents the fair value.
## **1.7 Taxation**
No provision has been made for corporation tax or deferred tax as the charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010, and therefore meets the definition of a charitable company for UK corporation tax purposes.
14
IRISH CULTURAL CENTRE, HAMMERSMITH LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
## **2 Voluntary income**
|Donations
Grants
Insurance claim|**31/03/2021**
**£**
4,652
440,990
7,345
452,987|**31/03/2020**
**£**
23,069
321,836
-
344,905|
|---|---|---|
Department of Foreign Affairs & Trade: Emigrant Support Programme restricted grant aid October 2020 £151,000 (2020: £151,000) was granted as follows: Core Costs: £84,000 (2020: £75,384) Education, Culture and Culture Programme Running Costs £56,000 (2020: £64,616); Elder's Programme Running Costs £11,000 (2020: £11,000).
Grants received, included in the above, are as follows:
|Government of Ireland: DFA&T 2018/19 ESP *
Government of Ireland: DFA&T 2019/20 ESP *
Government of Ireland: DFA&T 2020/21 ESP *
Irish Youth Foundation
Ireland Fund of Great Britain
Cultural Ireland
Embassy of Ireland
City of London Community Fund
National Heritage
H&F Covid Relief Funds
Literary Society
Arts Council
Sir Harvey McGrath
University of Liverpool
St. Bridget’s
Donal Gallagher
Shepherd’s Bush Housing Association|**31/03/2021**
**£**
-
37,750
100,667
7,000
22,000
6,592
45,500
15,000
80,000
37,556
800
80,000
5,000
3,125
-
-
-
440,990|**31/03/2020**
**£**
30,000
113,250
-
10,500
25,000
5,896
25,000
-
-
-
-
-
-
-
310
4,100
107,780
321,836|
|---|---|---|
* Government of Ireland: Department of Foreign Affairs & Trade (DFA&T) Emigrant Support Programme (ESP).
## **3 Income from charitable activities**
|**3**
**Income from charitable activities**|||
|---|---|---|
|Educational and cultural events
**4**
**Investment income**
Bank deposit interest received|**31/03/2021**
**£**
31,944
**31/03/2021**
**£**
4|**31/03/2020**
**£**
301,669|
|||**31/03/2020**
**£**
13|
15
IRISH CULTURAL CENTRE, HAMMERSMITH LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
|**5**
**Programming costs**
Costs of charitable activities including hosting educational and cultural events
**6**
**Governance costs**
Auditors' remuneration
**7**
**Net income**
Net income is stated after charging:
Auditors' remuneration
Depreciation on owned assets|**31/03/2021**
**£**
419,774
**31/03/2021**
**£**
9,900
**31/03/2021**
**£**
5,100
21,084|**31/03/2020**
**£**
611,156|
|---|---|---|
|||**31/03/2020**
**£**
3,790|
|||**31/03/2020**
**£**
3,790
15,850|
## **8 Trustees' remuneration, benefits and expenses**
There were no remuneration or benefits paid to trustees in the year for services provided to the charity in their role as a trustee.
Remuneration for other services in addition to trusteeship amounting to £20,985 (2020: £4,078) were paid in the year to a trustee, R Scanlon.
## **9 Average number of staff employees**
||**31/03/2021**|**31/03/2020**|
|---|---|---|
|Average number of staff employed|5|4|
During the year to 31st March 2021 and the previous year, no employee received total emoluments of more than £60,000.
|The total staff costs were as follows:
Wages and salaries
Social security
Pension costs|**31/03/2021**
**£**
103,437
4,653
1,891
109,981|**31/03/2020**
**£**
96,144
5,752
2,246
104,142|
|---|---|---|
16
IRISH CULTURAL CENTRE, HAMMERSMITH LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
## **10 Tangible fixed assets**
|**Cost or valuation**
At 1 April 2020
Additions
Disposals
At 31 March 2021
**Depreciation**
At 1 April 2020
Charge for the year
Eliminated on disposal
At 31 March 2021
**Net book value**
At 31 March 2021
At 31 March 2020
**11**
**Debtors: Amounts falling due within one year**
Trade debtors
Other debtors
**12**
**Creditors: Amounts falling due within one year**
Trade Creditors
Taxation and social security
Other creditors|**Office**
**equipment**
**Land and**
**and fixtures**
**buildings**
**and fittings**
**£**
**£**
1,965,391
50,197
-
34,139
-
-
1,965,391
84,336
-
43,129
-
21,084
-
-
-
64,213
1,965,391
20,123
1,965,391
7,068
**31/03/2021**
**£**
1,655
18,187
19,842
**31/03/2021**
**£**
-
9,478
58,214
67,692|**Totals**
**£**
2,015,588
34,139
-|
|---|---|---|
|||2,049,727|
|||43,129
21,084
-|
|||64,213|
|||1,985,514|
|||1,972,459|
|||**31/03/2020**
**£**
7,883
2,060|
|||9,943|
|||**31/03/2020**
**£**
1,027
14,686
43,196
58,909|
17
IRISH CULTURAL CENTRE, HAMMERSMITH LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
## **13 Movement in funds**
|**31 March 2021**
**As at**
**01/04/2020**
**£**
**Unrestricted funds**
General fund
83,865
**Restricted funds**
1,927,016
**Total funds**
2,010,881
**31 March 2020**
**As at**
**01/04/2019**
**£**
**Unrestricted funds**
General fund
29,699
**Restricted funds**
1,965,391
**Total funds**
1,995,090
Grants received, included in the above, are as follows:
Government of Ireland: DFA&T 2018/19 ESP *
Government of Ireland: DFA&T 2019/20 ESP *
Government of Ireland: DFA&T 2020/21 ESP *
Irish Youth Foundation
Ireland Fund of Great Britain
Cultural Ireland
Embassy of Ireland
City of London Community Fund
National Heritage
H&F Covid Relief Funds
Literary Society
Arts Council
Sir Harvey McGrath
University of Liverpool
St. Bridget’s
Donal Gallagher
Shepherd’s Bush Housing Association|**Transfer**
**between**
**As at**
**Income**
**Expenditure**
**funds**
**31/03/2021**
**£**
**£**
**£**
**£**
43,945
(102,354)
-
25,456
440,990
(348,404)
-
2,019,602
484,935
(450,758)
-
2,045,058
**Transfer**
**between**
**As at**
**Income**
**Expenditure**
**funds**
**31/03/2020**
**£**
**£**
**£**
**£**
324,751
(304,943)
39,358
83,865
321,836
(320,853)
(39,358)
1,927,016
646,586
(630,796)
-
2,010,881
**31/03/2021**
**31/03/2020**
**£**
**£**
-
30,000
37,750
113,250
100,667
-
7,000
10,500
22,000
25,000
6,592
5,896
45,500
25,000
15,000
-
80,000
-
37,556
-
800
-
80,000
-
5,000
-
3,125
-
-
310
-
4,100
-
107,780
440,990
321,836|**Transfer**
**between**
**As at**
**Income**
**Expenditure**
**funds**
**31/03/2021**
**£**
**£**
**£**
**£**
43,945
(102,354)
-
25,456
440,990
(348,404)
-
2,019,602
484,935
(450,758)
-
2,045,058
**Transfer**
**between**
**As at**
**Income**
**Expenditure**
**funds**
**31/03/2020**
**£**
**£**
**£**
**£**
324,751
(304,943)
39,358
83,865
321,836
(320,853)
(39,358)
1,927,016
646,586
(630,796)
-
2,010,881
**31/03/2021**
**31/03/2020**
**£**
**£**
-
30,000
37,750
113,250
100,667
-
7,000
10,500
22,000
25,000
6,592
5,896
45,500
25,000
15,000
-
80,000
-
37,556
-
800
-
80,000
-
5,000
-
3,125
-
-
310
-
4,100
-
107,780
440,990
321,836|**As at**
**31/03/2021**
**£**
25,456
2,019,602|
|---|---|---|---|
||||2,045,058|
||||**As at**
**31/03/2020**
**£**
83,865
1,927,016
2,010,881|
||646,586
|||
|||**31/03/2021**
**£**
-
37,750
100,667
7,000
22,000
6,592
45,500
15,000
80,000
37,556
800
80,000
5,000
3,125
-
-
-
440,990||
* Government of Ireland: Department of Foreign Affairs & Trade (DFA&T) Emigrant Support Programme (ESP).
(1) Contribution towards project costs as set out in the application only
(2) Contribution towards costs of the music scholarship and teaching only
(3) Contribution towards costs of the storytelling outreach programme only
(4) Partnership activity cost contribution
18
IRISH CULTURAL CENTRE, HAMMERSMITH LTD NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021
|**Reconciliation of net income to net cash flow**
Net income for the year
Interest Received
Depreciation
(Increase)/Decrease in Debtors
Increase/(Decrease) in Creditors
Net cash flow from operating activities|**31/03/2021**
**31/03/2020**
**£**
**£**
34,177
15,791
(4)
(13)
21,084
15,850
(9,899)
(6,973)
8,783
11,390
**54,141**
**36,045**|
|---|---|
## **14 Reconciliation of net income to net cash flow**
## **15 Related party disclosures**
There were no related party transactions in the year or the previous year, other than those disclosed in note 8.
19