Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
**Charity Registration No: 1189508 Company No: 08751590**
**IRISH HERITAGE LIMITED Report of the trustees and unaudited financial statements For the year ended 31 August 2023**
Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited**
## **Contents**
||Pages|
|---|---|
|Reference and administrative details|1|
|Report of the trustees|2 -5|
|Independent Examiner’s Report|6|
|Statement of financial activities|7|
|Balance sheet|8|
|Notes to the financial statements|9 - 16|
Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited**
## **Reference and administrative details For the year ended 31 August 2023**
|**Charity name**|Irish Heritage Limited|
|---|---|
|**Company number**|08751590|
|**Registered charity number**|1189508|
|**Trustees**|Peter Joseph Power-Hynes|
||Richard Keith Raffan|
||Mary Margaret Connolly|
||Thomas Gabriel Scanlon|
||Shirley Culley|
|**Principal address and registered office**|Second Floor|
||17 Short’s Gardens|
||London|
||WC2H 9AT|
|**Independent examiner**|Jolene Upshall|
||Mercer and Hole|
||Chartered Accountants|
||Trinity Court|
||Church Street|
||Rickmansworth|
||WD3 1RT|
|**Accountant**|Mercer and Hole|
||Chartered Accountants|
||Trinity Court|
||Church Street|
||Rickmansworth|
||WD3 1RT|
|**Bankers**|Wise|
||6thFloor|
||The Tea Building|
||56 Shoreditch High Street|
||London|
||E1 6JJ|
1
Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited**
## **Independent Examiner’s Report to the trustees For the year ended 31 August 2023**
The Trustees present their report along with the financial statements of the Charity for the year ended 31[st] August 2023. The financial statements have been prepared in accordance with the accounting policies set out in note 1 and comply with the Trust Deed and the applicable law. The trustee’s report includes the directors’ report as required by company law.
## **Background information**
In May 2020 the Charity Commission approved Irish Heritage as a registered charity, an important development in the evolution of the organisation.
Established in London in 1974, the charity’s object is to advance public education and appreciation of the arts, particularly those of Irish and Anglo-Irish music, arts, literature and drama of all genres and traditions to the benefit of the community.
It is the only Irish performing arts organisation in Britain dedicated to helping young Irish musicians and composers in the early part of their careers. It awards four valuable Bursaries annually, one for performance, one for composition, one for string instruments, another for vocal studies and a special accompanist’s award.
Irish Heritage presents a programme of public events in established music venues and supports other organisations, including the Blackwater Valley Opera Festival that shares its aims in music and the arts. It has links with colleges and conservatoires in Ireland and Britain to identify emerging, talented young performers and composers.
The charity’s values: Creativity, Encouragement, Collaboration, Enjoyment and Inclusivity, reflect the legacy inherited from its founders Ethna and Charles Kennedy and are the inspiration for the organisation’s Outreach and Community programme, delivered in association with the Irish Cultural Centre, which brings the joy of live music to people who cannot normally access it, to children in education and to those who benefit from music as therapy.
## **Programme of Activities**
The Charity carried out a full programme of events throughout the course of the year both in the Irish Heritage Artistic Programme and the Irish Heritage Outreach Services to Irish Communities.
## **Fundraising**
Irish Heritage was fortunate to continue to benefit from funding sourced through successful grant applications and individual donations. Once again, the Emigrant Support Programme of the Government of Ireland’s Department of Foreign Affairs provided vital funds as did the Ireland Funds Annual Grant Round. Individual donors facilitated the bursary programme with generous support.
The charity’s valuable annual golf day went ahead as planned.
## **Appreciation**
Irish Heritage was fortunate to continue to benefit from funding sourced through successful grant applications and individual donations. Once again, the Emigrant Support Programme of the Government of Ireland’s Department of Foreign Affairs provided vital funds as did the Ireland Funds Annual Grant Round. Individual donors facilitated the bursary programme with generous support.
2
Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited**
**Independent Examiner’s Report to the trustees For the year ended 31 August 2023**
Finally, I would like to thank the charity’s Patrons and my fellow Trustees for their support by giving so generously of their time and expertise.
**Thomas Scanlon**
## **Chairman**
Date: 24/7/2024
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Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited**
## **Independent Examiner’s Report to the trustees For the year ended 31 August 2023**
I report to the charity trustees on my examination of the accounts of Irish Heritage Limited (the Trust) for the year ended 31 August 2023.
## **Responsibilities and basis of report**
As the Charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention In connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
## **Jolene Upshall (Senior Statutory Auditor) For and on behalf of Mercer & Hole Chartered Accountants**
## 24/7/2024
**…………………………….**
Trinity Court Church Street Rickmansworth WD3 1RT
4
Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited**
## **Statement of financial activities For the year ended 31 August 2023**
||**Unrestricted**|**Unrestricted**|**Restricted**|**Total funds**|**Total funds**|
|---|---|---|---|---|---|
|||**funds**|**funds**|**2023**|**2022**|
|**Notes**||**£**|**£**|**£**|**£**|
|**Income and endowments from:**||||||
|**_Donations and legacies:_**||||||
|Donations||**49,461**|**3,000**|**52,461**|51,650|
|**Total**||49,461|3,000|52,461|
51,650|
|**Expenditure on:**||||||
|**_Charitable activities_**||||||
|Insurances||480|237|
717|
-|
|Administrator fees||2,863|1,410|
4,273|
348|
|Performer fees||8,729|4,299|
13,028|
9,259|
|Bursaries||20,950|-|
20,950|
12,500|
|Website||93|45|138|-|
|Bank charges||134|-|134|237|
|Travel & subsistence||1,092|538|1,630|3,945|
|Carriage||-|-|-|3,349|
|ESP re-imbursement||-|-|
-|
3,101|
|Venue Hire||10,719|5,636|
16,355|
6,206|
|Golf days||-|-|-|-|
|Photographers & video||268|132|400|7,574|
|Advertising & promotion||2,803|1,381|4,184|-|
|Sundry||450|222|672|798|
|**_Governance costs_**||||||
|Independent examiner’s fee|**4**|1,800|-|
1,800|
1,800|
|**Total**|**4**|50,381|13,900|
64,281|
49,117|
|**Net income/(expenditure)**||(920)|(10,900)|
(11,820)|
2,533|
|**Net movement in funds**||(920)|(10,900)|
(11,820)|
2,533|
|**Reconciliation of funds**||||||
|Total funds brought forward||5,224|10,900|
16,124|13,591|
|**Total funds carried forward**||4,304|-|
4,304|
16,124|
The notes on pages 7 to 11 form part of these financial statements. All the above activities are classed as continuing and there are no gains and losses other than those included above.
5
Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited Balance Sheet For the year ended 31 August 2023**
|**Notes**
**Fixed assets**
Tangible fixed assets
**Current assets**
Other debtors
Prepayments and accrued income
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one year:
Trade creditors
Accruals and deferred income
Net current assets
**Total assets less current liabilities**
**Net assets**
**Funds**
Unrestricted income fund
**6**
Restricted funds
**Total unrestricted funds**
**6**|**2023**
**£**
-
-
-
7,904
7,904
-
(3,600)
-
4,304
4,304
4,304
4,304
-
4,304|**2022**
**£**
-
-
-
20,504|
|---|---|---|
|||20,504
-
(4,380)|
|||-
16,124|
|||16,124
16,124|
|||5,224
10,900|
|||16,124|
For the year ending 31 August 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
## Directors’ responsibilities:
- No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime within Part 15 of the Companies Act 2006 .
Approved by the Trustees on
## 24/7/2024
…………………………
Thomas Scanlon
The notes on pages 7 to 11 form part of these financial statements
6
Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited**
## **Notes to the financial statements For the year ended 31 August 2023**
## **1. Accounting policies**
## **1.1 General information and basis of preparation**
- The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and UK Generally Accepted Accounting Practice.
The Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
Irish Heritage Limited is a private company incorporated in England & Wales and limited by guarantee. The nature of the charity’s operations and principal activities are detailed in the report to trustees on pages 2-3.
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 the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) 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. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
## **1.2 Income**
Donations are recognised in the year in which the charity is entitled to and certain of receipt and the amount can be measured with reasonable certainty. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future year. Gift aid is added to the value of the donation to which it relates.
No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102).
7
Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited**
## **Notes to the financial statements For the year ended 31 August 2023**
## **Accounting policies (continued)**
## **1.2 Income (continued)**
Donated services are recognised as income and expenditure in the financial statements when organisations or individuals offer their services and support pro bono. The value of these donated services to Irish Heritage Limited is considered to be equal to market value which would be paid were the service formally procured. This includes services paid for by other trusts.
Investment income is accounted for on a receivable basis.
## **1.3 Expenditure**
Expenditure is included on an accruals basis. Expenditure is recognised as soon as there is a legal or constructive obligation committing the charity to pay out resources it is probable that the settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grants payable to third parties are within the charitable objectives. Where unconditional grants are offered, this is accrued as soon as the recipient is notified of the grant, as this gives rise to a reasonable expectation that the recipient will receive the grants. Where grants are conditional relating to performance then the grant is only accrued when any unfulfilled conditions are outside of the control of the charity.
Charitable activities comprise those costs directly attributable to the fulfilment of the charitable objects.
## **1.4 Governance costs**
Governance costs comprise all costs involving the public accountability of the charity and costs related to statutory requirements.
## **1.5 Taxation**
The Trust is a registered charity and is not liable to United Kingdom income or corporation tax on charitable activities, provided income falls within the charitable exemptions and is spent on charitable purposes.
## **1.6 Funds**
The general unrestricted fund is free for the Trustees to use for any purposes in furtherance of the trust’s charitable objects.
Restricted funds arise from donations to the trust which are made for a specific purpose. Restricted funds can only be used for the purpose for which funds were given.
## **1.7 Debtors and creditors receivable / payable within one year**
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
8
Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited**
## **Notes to the financial statements For the year ended 31 August 2023**
## **Accounting polices (continued)**
## 1.8 **Impairment**
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset’s cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or less unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.
## **1.9 Going concern**
The financial statements have been prepared on a going concern basis as the trustees believed that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
## **2. Trustees’ expenses**
No trustees received any remuneration or other benefits from employment with the charity.
## **3. Wages and salaries**
There are no employees (2022: none).
## **4.**
## **Expenditure**
|Direct costs
Governance costs|**Bursaries**
**£**
20,950
-
20,950|**Other**
**charitable**
**activities**
**£**
41,531
1,800
43,331|**2023**
**£**
62,481
1,800
64,281|**2022**
**£**
47,317
1,800|
|---|---|---|---|---|
|||||49,117|
Governance costs is made up of the independent examiner’s fee of £1,800.
9
Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited**
## **Notes to the financial statements For the year ended 31 August 2023**
## **5. Analysis of net assets between funds**
|_5.1_
_Current year_
**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
Tangible fixed assets
-
-
Current assets
7,904
-
Current liabilities
(3,600)
-
**Total funds**
4,304
-
_5.2_
_Prior year_
**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
Tangible fixed assets
-
-
Current assets
9,604
10,900
Current liabilities
(4,380)
-
**Total funds**
5,224
10,900
**6.**
**Movement in funds**
_6.1_
_Current year_
**Balance at**
**31 August**
**2022**
**Income**
**Expenditure**
**Realised/**
**unrealised**
**gains and**
**losses**
**£**
**£**
**£**
**£**
**Restricted funds**
10,900
3,000
(13,900)
-
Unrestricted funds
5,224
49,461
(50,381)
-
**Total funds**
**16,124**
**52,461**
**(64,281)**
**-**|_5.1_
_Current year_
**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
Tangible fixed assets
-
-
Current assets
7,904
-
Current liabilities
(3,600)
-
**Total funds**
4,304
-
_5.2_
_Prior year_
**Unrestricted**
**Restricted**
**funds**
**funds**
**£**
**£**
Tangible fixed assets
-
-
Current assets
9,604
10,900
Current liabilities
(4,380)
-
**Total funds**
5,224
10,900
**6.**
**Movement in funds**
_6.1_
_Current year_
**Balance at**
**31 August**
**2022**
**Income**
**Expenditure**
**Realised/**
**unrealised**
**gains and**
**losses**
**£**
**£**
**£**
**£**
**Restricted funds**
10,900
3,000
(13,900)
-
Unrestricted funds
5,224
49,461
(50,381)
-
**Total funds**
**16,124**
**52,461**
**(64,281)**
**-**|**Total**
**funds**
**£**
-
7,904
(3,600)|
|---|---|---|
|||4,304|
|||**Total**
**funds**
**£**
-
20,504
(4,380)|
|||16,124|
|||**Balance at**
**31 August**
**2023**
**£**
-
4,304
**4,304**|
||5,224
49,461
(50,381)
-||
||**16,124**
**52,461**
**(64,281)**
**-**||
10
Docusign Envelope ID: 2BD9B881-6605-4F4C-9634-0142AE60773E
## **Irish Heritage Limited**
## **Notes to the financial statements For the year ended 31 August 2023**
## _6.2 Prior year_
|_Prior year_||
|---|---|
|**Restricted funds**
Unrestricted funds
**Total funds**|**Balance at**
**31 August**
**2021**
**Income**
**Expenditure**
**Realised/**
**unrealised**
**gains and**
**losses**
**Balance at**
**31 August**
**2022**
**£**
**£**
**£**
**£**
**£**
-
21,900
(11,000)
-
10,900|
||13,591
29,750
(38,117)
-
5,224|
||**13,591**
**51,650**
**(49,117)**
**-**
**16,124**|
The unrestricted funds are available to be spent on any purposes in furtherance of the charity’s charitable objectives.
## **7. Volunteers**
Irish Heritage Limited relies entirely on volunteers to carry out the management, administration, and general maintenance work. The charity has no paid staff or paid Trustees.
## **8. Transactions with related parties**
During the year, two payments, totalling £1,330, were made to Irish Cultural Centre Hammersmith Limited, a Charitable Company under common control.
11