REGISTERED COMPANY NUMBER: 07614886 (England and Wales) REGISTERED CHARITY NUMBER: 327889 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR THE IRELAND FUND OF GREAT BRITAIN
THE IRELAND FUND OF GREAT BRITAIN CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Page Report of the Truslees 1 to 6 Independent Examinetrs Report statement of Financial Actlvities Balance Sheet Cash Flow Statement 10 Notes to the Cash Flow Statement 11 Not88 to the Financial Statements 12 to 24
THE IRELAND FUND OF GREAT BRITAIN REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustees who are also directors of the tharity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporling by Charities.. Statement of Recommended Practice appliGable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). Page 1
THE IRELAND FUND OF GREAT BRITAIN REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTMTIES ObJactiv88 and aims The Ireland Fund of Great Britain flFGB') activety raises funds from private sources to support causes in the UK and elsewhere throughout the world as the Trustees see fit. IFGB invests significant time and resources in identifying. monitoring and mentoring charities and non-profits that promote wellbeing, comrnunity and culture across Great Britain, including those that best support Irish communities. Coupled with the corresponding wort( undertaken by The Ireland Funds in Ireland, we are uniquely placed to ensure that funds raised from our donors are channelled to desenling organisations which will help us meet our aims and which will maximise the benefit obtained from our fvndraising. Grants are onty distrtbuted following a thorough assessment of all applications by our Grants Assessment Commrttee and with the approval of the Board. The Trustees have heeded the requirement contained in the Charity Commission's general guidance on public benefrt when reviewng the Ireland Fund's charitable objects in relation to setting and implementing the grant making policy for the year. The objectives of the fund are the relief of p)vety, distress and suffering as well as the advancement of education, along with the promotion of such other charitable objects as the Trustees may from time to time detemiine. IFGB carries out these objects by: 1. Raising funds to enable it to make grants to charities, community group5 and voluntary organisations who we believe will assist the Ireland Fund meet its objectives,. 2. Mentoring and supporting charities and community organisations to assist them in creating sustainable programmes consistent with our objects'ves.. 3. Providing a service for individuals to SUPFK)rt organisattons throughout the world engaged in activibes which promote our objectives and to mnitor the impact of those gifts. lthilst the founding document refers to a prirarIlY Irish group of beneficiaries the Trustees are mindful of adhering to the Equalities Act 2010 and the Charities Act 2011 as it applies to the operation of the charity and, as such, have a robust grant making policy to deliver their objectives. The Trustees do not restrict any grant to persons of Irish descent Grants approved demonstrate that The Ireland Funds Great Britain has Pla no restrictions on the beneficiaries to belong to any specific ethnic group. Affiliatlon to the worldwide Ireland Funds Although we are a separate and independent charity, we are proud to be affiliated to the wOr1lde Ireland Funds, a philanthropic neOrk that supports worthy causes in Ireland and around the world and which currently has chapters in 12 countries. This affiliation gives IFGB access to an extraordinary network of global supporters and over 100 events annually and provides a meaningful connection for our supporters to the Irish diasF4)ra worldwide. Dedicated to supporting programs of peace and reconciliation, arts and culture, education and community development, the worldwide Ireland Funds have raised over $650 million for over 3.000 outstsnding organizations in its almost 50 year history. Calendar of Events Conscious of the need to rnaximise the resources of IFGB and any retum on investment. the Trustees have deGided to ft)cus on events which generate an appropriate balan of financial retum. profile-raising and engagement with our supporters which justrfies the effort involved in or9anising those events. In this, our 35th anniversary year, we held the ft)Ilowing events.. The London City Lunch which convenes leading business figu$ and others to support the work of the IFGB and to raise awareness of the causes we supporL Our lunch for the period under review took place in May 2023 at Mansion House, City of London, by special Fermission of the Lord Mayor Nicholas Lyons. The keynote speaker was Ray O'Rourke, CEO of Laing O'Rourke. The Trustees acknowledge the generous support for the event from sponsors. Mccann FitzGerald LLP and Allica 8ank. Page 2
THE IRELAND FUND OF GREAT BRrrAIN REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The second annual Women in Business & Philanthropy Lunch was hekl in February 2024 and brought together over 200 women business leaders and donors and supporters. This event is part of a global Ireland Funds programme of events aimed at women philanthropists. entrepreneurs and business leader5. The Trustees acknowledge the generous support for the event from sponsoT5. EY and Matheson. The Ireland Funds Gat Britain marked its 35th anniversary with a reception hosted by Ambassador Fraser at the Embassy of Ireland in November. Attended by distinguished guests and friends, The Ireland Funds GB honoured their founding chair, Josephine Hart. and paid tribute to her famous Poety Hour, with readings of Yeats by Bob Geldof, Denise Gough and Lennie Goodings, superbly curated by Shevaun Wlder of the Josephine Hart Poety Foundation. Special thanks to Ambassador Marbn Fraser for hosting the event. Public benefit The trustees confimi that they have referred to the guidance contained in the Charity Commission's general guidan on public benefit when reviewing the charity's aims and objectives and in planning future activities. The trustees refer to public benefit throughout this reporL STRATEGIC REPORT Achievement and perforniance Charitable activitles The Ireland Funds Great 8ritain fundraising activities continued in earnest this year. This has had a direct impact on a further 42 charities across Great Britain and Ireland who have receNed grants totalling £492.440. The impact of the cost-of4iving crisis is still felt in communities across Great Britain and Ireland and has resutted in an increased need from the charities we support and their beneficiaries. Sustainabilty was a key focus for the Annual Grant Round and the Board of Directors conts'nued with their decision to fund core costs as well as project costs. offering vital support to community organisations. Among those organisations fijnded were The Parent Rooms who will use their grant to help to provide a nOn-jUdgeEntal, responsive Servi to parents who are struggling with their mental health.. The Blackmore Vale charity will equip its new building with facilities to offer hands-on cookery &Jucats'on. a café and a breakfast club for youngsters, along with a homework comer, to help families in need" while Luton Irish Forum will use its grant to improve the prospects of k)cal Irish and Irish Travellers by providing xuedited infornption advice and guidance on welfare benefts and related housing and debt, Education and Culture continue to be a big ft)cus ft)r dorH)rs to Ireland, with organisations such as Abbey Theatre, Royal Irish Academy of Music. National Gallery of Ireland. and Leaming Hub Limerick, Alexandra College and Summethill College Sligo receiving grants through our Donor Advised Grants programme. The Trustees were pleased to award the first No Mind Left Behind scholarship from the GB chapter to a young student in Dublin and look fon*vard to the growth of this important educats'on scholarship programme. MonitOTing Impact The Trustees have continued the policy of asking each beneficiary or9anisation to submit an annual report detsiling how the grant made was spent and providing a full ovetview of their financial position. Grant recipients are required to complete a progress report within six months of receipt of their award. These pOrtS are used to produce IFGB'S Annual Impact Report. The Young Leaders The Young Leaders Society cultrvates an emerging generation of philanthropists while providing a nelworking forum and a Gonnection with modem Ireland. It attracts professionals aged 20 and membership numbers have continued to grow. At 31 March 2024 there were 80 acb've eMberS of the London Young Leaders. We are proud of the progress made by The London Young Leaders, who are important to the fvture of The Ireland Funds Great Britain. They have an established calendar of go40 events including leadership briefings from industy leaders. social events throughout the year and access to The Ireland Funds fiagship fundraising events. A new Chair of the Young Leaders, Emer Tieman, was elected in September 2023. The London chapter has set ambitious goals for growth toth in terms of its membership base and fundraising targets. Page 3
THE IRELAND FUND OF GREAT BRITAIN REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCEAND MANAGEMENT Govemlng document The charity is controlled by its goveming document, a deed of trust, and consb'tutes a limited company, limited by guarantee, as defined by the Companies Act 20C6. The Ireland Fund of Great Britain is a registered charity. number 327889, and is a company limited by guarantee which is govemed by its articles of association. The board of directors of IFGB (the 'Trusts") have overall responsibilty for the operations of the chanty. The Trustees hold regular meetings Whe they review the current strategy as progress is rnade. They also discuss the wider issues of grant making and review the grant applications in line ryth our grant making policy, the long-tern relationship with many of the community groups that the charity supports on a wular basis and the financial and investment performance of the IFGB. The Trustees have reviewed the practices and procedures and considered the skills and expertise necessary to continue to operate as an effecttve charity and are sab'sfied with the result The Board is continuing to identify additional candidates and we expect to appoint fvrther strong candidates as Twstees. New Trustees are appointed by the existing Trustees without public advertising. A new Chair of the Board of Directors was appointed in September 2023,. Bridget Walsh will serve an inrtial three-year term as Chair. Declan Tieman was elected Mce£hair in December 2023. The Trustees have appointed a Grants Committee which is responsible for liaising wtth organisations vthich the charity supports. or which are seeking our supporL Grant appficats'ons are assessed, and recommendations made for consideration by the l>Jard. The Trustees have carried out a review of their strategic approach to the running of the charity and have agreed on its priorits'es for the furtherance of the charity's objects. Financial Review The Ireland Funds Great Britain is pleased to report an excellent financial perf0mlan for the financial year to 31 March 2024. Total income income for the year was £966,861. (2023 £723.178) a 330A increase year on year. Income from donations and legacies amounted to £535,543. Donations in the form of donor advised grants amounted to £452,028 and unrestricted donations amounted to £83,515. Grants in the sum of £492,440 were made to 42 recipients. The annual City Lunch and the Women in Business and Philanthropy Lunch generated a surplus of £225,000 including pledges and donations. Overheads for the year amounted to £191,205. These annual Costs comprise salaries, premises and support functions all of which were in line with the agreed budget. A surplus of £188,906 was reported for the year which increased totsl SerVeS as at 31 March 2024 to £464,491 The sum of £144,919 is allocated to donor ajvised grants leaving free funds of £246,500. Reserves policy The Trustees recognrze their responsibility towards the preseNation of the fund and in line wrth policy maintain six mnths running costs separately. This is a prudent measure to cover any potential winding up costs. REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 07614886 (England and Wales) Page 4
THE IRELAND FUND OF GREAT BRITAIN REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Registsred Charity number 327889 Registered office The Gmn House 244-254 Cambridge Heath Roa London E2 9DA Trustees B Walsh (Chair) E Bastible E P Bohill E B Bourke S R Conneely J Feeney E Finnan R Godson G Hayes C T Hillery R N8ughton S A O'Brien D M Tieman ZPWebb S V Wielan Resigned 31 December 2023 Independent Examlner P Undemood FCCA Morris Crocker Chartered Accountants Station House North Street Havant Hampshire P09 1QU Bankers Allied Irish Bank Direct Banking PO Box 73306 London W5 gBP Bank of Ireland PO BOX2124 Belfast BT19RS Solicitors Paul Hastings 10 Bishops Square 8th Floor London E16EG Page 5
ThE IRELAND FUND OFGREAT BRITAIN REpoifr OFTHE TRUSTEES FOR THE YEAR ENDED31 MARCH 2024 Report of thè trustees. IhcorpDraUng a Strats9 report, appmved by ord8r of the board of trustees: .as the Gompany dtrectors, on ...... and slgned on the boarrfs I[ by. .S R Ceety. Ttustee
INDEPENDEwf EXAMINER'S REPORTTO THE TRUSTEES OF THE IRELAND FUND OF GREAT BRITAIN Independent examinerfs report to the trustees of The Ireland Fund of Great Britain {'the Company.) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024. Responsibilities and basls of report As the charitys trustees of the Company (and also tts directors for the purposes of company law) you are responsible for the preparation of the accounts in accordan with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charlty's accounts as carried out under Section 145 of the Charilies Act 2011 ('the 2011 Acv). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5} {b) of the 2011 Ac Independent examinevs statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confi'nn that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examinatron. I confirni that no matter5 have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord with those records," or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a tnje and fair view which is not a matter considered as part of an independent examination., or the 8ccounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and pOrting by charities (applicable to charities preparing their accounts in accordance with the Financial Repjrting Standard applicable in the UK and Republic of Ireland {FRS 102)). I have no concems and have corne 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. P UndenNood FCCA Morris Crocker Chartered Accountants Station House North Street Havant Hampshire Pog 1QU Page 7
THE IRELAND FUND OF GREAT BRITAIN STATEMENT OF FINANCIAL ACTWITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted funds INCOME AND ENDOWMENTS FROM Donations and legacies 83.515 452,028 535.543 450,505 Other trading activities Investment income 431,139 179 431.139 179 272.488 185 Total 514.833 452.028 6.861 723,178 EXPENDITURE ON Raising funds 277.883 277,883 261,032 Charltsble activities Community development I the relief of poverty Sharing and developing Irish arts and culture Educalion Pea 88,446 10,044 7.882 176.878 63,327 153,495 265,324 73,371 161,377 341,544 27.858 158,486 4.000 Total 384,255 393.700 777,955 792,920 NET INCOMEI{EXPENDITURE) 130.578 58,328 188,906 (69.742) RECONCILIATION OF FUNDS Total funds brought forward 261,921 13,664 275,585 345.327 TOTAL FUNDS CARRIED FORWARD 392,499 71.992 464,491 275,585 The notes fonn part of these financial statements Page 8
ThE IRELAND FUWD OF GREAT BRITAIN BALANCESHEET 31 MARCH 2024 2024 FIXED AS8ET8 Tangible 8s58ts 13 78 CURRENT A8SErs Dèbtors Cash at b£nk 14 123,164 385.792 CREDrroks Amounts fallkng due wlthin ona year 15 (116,428) (207,146) NEf CURRENysSErs 461,733 TOTALASSEf8 LESS CUkREMf UABILMES 4491 275,585 NET AS8ET8 464.491 275.585 FUNDS Unrestrtcted ndS Restrlcted funds 17 392,499 71,992 261,92 13,664 TOTAL FUNDS 464.491 275,585 The choritabl"e thpany Is-entitEed to exempuon from audlt under Sec1 4T1 of the Companlas Act 2006 for lh8 year ended 11 March 2024. The members hav6. not required Ihe compary to d>taln an a[t of Is flnaKlal statements for tFK8 year ended 31 M8rch 2024 In acXr5anca wlth Sècoon 476 of Ih8Compans Ad 2006. The trustees acknxvl8Jge thelr resw¥ksibillUes for (a) ensuring that the ch3rltabb 0)Mp k8eps acu)u recor¢s ¢ompJy with. SeGtlons 386 387 of the Companies Act 2TrJ6 and preparlrnJ financw statents whlch a true and fvlrylvw of state of affalrs of Ihe th8rftatle ca)mpany as at the end of each finandal year and of Its surplus or deftdt for each financlal ye8r In acrJJnC8 the rwulrements of Se¢t#Jns 394 and 395 arml whk othenfyi58 (x)mFty wtlh the requiremgnts of the Companles Act 2006 relating to finan¢lal statements sts faras applicable to the charItat4e cL•npany. (b) "I statements vme apprDved by tle BoEf Df Trustees artd autr for twe and wets swed on k bOha by. R ConF•. Trustse
THE IRELAND FUND OF GREAT BRrrAIN CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatlng activities Cash generated from operations 72.379 (150,856) Net cash provided byl(used in) operating activities 72,379 (150,856) Cash flows from investing activltlgs Purchase of tangible fixed assets Interest reGeived (3,353) 179 185 Net cash (used in}Iprovided by investing activities (3,174) 185 Change in cash and cash equivalents In the reporting period Cash and cash equivalents at the beginning of the reportlng period 69.205 (150,671) 385,792 536,463 Cash and cash equlvalents at the end of the reportlng pariod 454,997 385,792 The notes fom part of these financial ststements Page 10
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE CASH FLOW STATEMENr FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF NET INCOMEI(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTMTIES 2024 2023 Net incomel{expendlture) for the reportlng period (as per the Statement of Flnancial Activities) Adjustments for. Depreciation charges Interest received Increase in debtors Decrease in creditors 188,906 (69,742) 673 (179) (26,303) (90,718} 587 (185) (24,507) (57,009) Net cash pnwlded byl{used In) operatlons 72,379 (150,856) ANALYSIS OF CHANGES IN NET FUNDS At 1.4.23 Cash flow At 31.3.24 Net cash Cash at bank 385,792 69.205 454,997 385,792 69,205 454,997 Total 385,792 69.205 454,997 The notes fonn part of these financial statements Page11
THE IREIAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES Basis of preparlng the financial statements The financial statements of the charitable company. which is a public benefit entity under FRS 102, have been prepared in accordan with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities weparing their accounts in accordance with the Financial ReForting Stsndard applicable in the UK and Republr of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting St8ndard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. and the Companies Act 2006. The financiat statements have been prepared under the historical cost convention. Going Concem The trustee directors consider that there a rK) material UnrtaIntieS regarding the charitable company's ability to continue as a going concem. Income All income is recognised in the Statement of Financlal Activities On ihe charity has entiuement to the funds, it is probable that the income will be reiVed and the amount can be measured reliably. Expendtturo Liabilities are recognised as expenditure as soon as there is a gaI or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings that agggate all cost related to the category. Where costs Gannot be directly attributed to particular headings they have been allocated to ath'vities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Fixtures and fittings Computer equipment 25% on cost 25°A on cost Individual fxed assets costing £500 or mre are capitalised at cost. Taxatlon The charity is exempt from corporats.on tax on its charitable a1VitieS. Fund accounting Unresthcted funds can be used in accordan with the charitable obiectives at the discretion of Ihe trustees. Restricted fijnds can onty be used for particular restricted purposes within the objects of the charity. Restricts'ons arise when specified by the donor or when funds are taised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Foraign currencles Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange wling at the balan sheet date. Transactions in foreign currencies a translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. Page 12 continued...
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS - ¢onllnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES - continued Hire purchase and leasing commitments Rentals paid vnder operating leases are charged lo the Statement of Financial Activities on a straight line basis over the period of the lease. Pension costs and other pOstetirement benerts The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Financlal Instruments The charity On enters into basrc financial instruments transactions that result in the recognition of financial assets and liabilitses like trade and other accounts receivable and payable and investThEnts in stocks and shares. The measurement basis used for these instruments is detailed below. Debtors and cash at bank Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments a valued at the amount ppaid net of any Irade discounts due. Cash at bank and in hand included cash held on deposit or in a current account Creditors and provlsions Creditors and provisions are recognised Whe the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. DONAMONS AND LEGACIES 2024 2023 Donations 535,543 450,505 OTHER TRADING ACTMTIES 2024 2023 Young Leaders 100 Club Other events 15.062 44,446 371.631 12.780 27,449 232,259 431,139 272,488 Pa9e13 continued...
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMErs- contlnued FOR THE YEAR ENDED 31 MARCH 2024 INVESTMENT INCOME 2024 2023 Bank interest receivable 179 185 All investment income is derived from assets held in the United KingdorrL RAISING FUNDS Raising donatlons and legacies 2024 2023 Support costs 80,305 66.816 Other tradlng activities 2024 2023 Fundraising events Support costs 94.310 103,268 108,289 85,927 197,578 194,216 Aggregate amunts 277,883 261,032 CHARrrABLE ACTIVITIES COSTS Grant fijnding of activities (see note 7) Support costs (see note 8) Totals Communty development l trE relief of povety Sharing and developing Irish arts and culture Educats'on 262,780 265.324 70.827 158,833 2,544 2,544 73.371 161,377 492,440 7,632 500,072 Page 14 continued...
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 GRANTS PAYABLE 2024 2023 Community development i the relief of poverty Sharing and developing Irish arts and culture Education Pea 262,780 70,827 158,833 339,427 25.741 156,369 4,000 492,440 525,537 Page 15 conts'nued...
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS- ¢ontlnued FOR THE YEAR ENDED 31 MARCH 2024 GRANTS PAYABLE - continued The total grants paid to institutions during the year was as follciws". 2024 2023 Coventry Irish Society Irish Communty Services Gonzaga College The Abbey Theatre Luton Irish Forum Lewisham Irish Community Centre Irish Sailing Conradh Na Gaelige Irish Chaplaincy The Ireland Funds Brent Irish Advisory SeNice Irish Heritage Irish Community Care Manchester Irish Pensioners Choir London Irish Centre Integrated Education Fund Irish Cultural Centre, Hammersmith Irish Sailing Foundation National Gallery of Ireland Social Entrepreneurs Ireland Munster Rugby Irish Elderly Advice NeOrk Leeds Irish Health Homes Irish Arts Centre NY Liverpool Irish Centre Royal Academy of Music St Patricks Cathedral The Ireland Funds Jack & Jill Foundation Holy Child Killiney Building Appeal Learning Hub Limerick Summerhill College Sligo Via Wings MyBag Charity Immigrant Counselling and Psychotheraphy Irish Community Care Blackwater Valley Opera Festival The Clongowes Foundation Alexandra College Parallel Histories Read for Good Lets unite for aukn'sm Limited Sunshine Wshes Children's Charity IAMI Ltd Cruse Bereavement Support Brent Irish Advisory Seriice Brent Adolescent Centre Void Gallery Leeds Irish Arts Foundation Munster Rugby Aisling Retum to Home Community Sports Neknrk 5,000 8,000 7,500 6.360 7,000 7,500 5,000 12,500 4,000 3,000 37,403 4,000 7,000 8,000 20,000 8,000 3,000 3,000 2,750 2,000 5,125 18,1)00 10,125 8,535 18,750 32,017 66,725 4.000 7,000 2,500 3,500 24,822 500 20,000 5,000 13.777 11.836 12,964 7,000 6,000 8,000 6.000 17,925 15,000 17,281 3,000 4,000 4.000 4,000 5,000 4.000 7,000 5,000 3,000 3,000 4.000 1,875 6,250 12,876 66.217 4,000 7,000 1,266 7.000 11.867 750 5,000 6,610 10,000 13,652 9.500 8,000 6,000 41,931 6.443 3,000 6.000 2,000 8,000 4,000 4.500 1,500 5,000 7.000 Page 16 continued...
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED31 MARCH 2024 GRANTS PAYABLE - continued Daisyhouse De Paul Herstory Educab'on Trust Irish Refugee Council Mens Sheds School of Folk St Michael's College The American Iland Funds The Parent Rooms The Blackmore Vale Chanty Kings Hospital School St Conleths College 1,211 10,000 4,000 1,311 373 2,000 3.150 15,000 11,000 7,000 2,300 9,500 9,500 100.000 25,000 4g2,440 525,537 SUPPORT COSTS Govemance costs Management Totsls Raising donation5 and legacies other trading activities Community development l the relief of poverty Sharing and developing Irish arts and culture Education 77,274 99.373 3,031 3,895 80,305 103.268 2.449 2.449 2,449 95 95 95 2.544 2,544 183,994 7,211 191,205 Activity Management Governance costs Basis of allocation Use of resources Use of sOurceS Support costs, included in above. are as follows: Management Raising donations and legacies Community development Ithe relief of Fovety Other trading aclivtties Wage5 and salaries Social security Pensions Rent and service charges Insurance Telephone and internet Printing, postage and stationery 57,976 4,224 2.132 3,837 105 74.556 5.433 2,742 4,936 1,836 134 68 122 Ill 134 236 2.105 184 1,636 52 Caffied fOard 70.094 90,142 2,221 Page 17 continued...
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL sTATEmEPs - contlnued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS - continued Management- continued Raising donations and legacies Community development Ithe relief of povety Other trading actiwties Brought foNard Marketing Sundries Travel and subsistence Computer expenses Bank and credit card charges Foreign exchange (gainyloss Consultancy costs Membership cost Subscriptions Depreciation of tangible fixed assets 70,094 1,186 294 1,385 37 1.187 (26) 2,399 278 157 283 90,142 1,526 376 1,781 47 1,528 (34) 3.085 357 201 364 2,221 38 38 (1) 76 77,274 99,373 2,449 2024 2023 Sharing and developing Irish arts and culture Total activities Total activities Education Wages and salaries Social security Pensions Rent and Ser1 charges Insuran Telephone and intemet Printing, postage and staiionery Marketing Sundries Travel and subsistence Computer expenses Bank and Gredit card charges Foreign exchange (gainyloss Consultancy Gosts Membership cost Subscriptions DepCiatIon of tsngible fixed assets 1.836 134 68 122 1,836 134 68 122 138,040 10,059 5,078 9,139 248 438 3,8g7 2,826 697 3,298 87 2.829 (63) 5,712 662 373 674 120.046 11,568 5.250 4,800 221 358 133 2,943 4,829 2,029 317 1,260 {1,923) 52 38 52 38 38 (1) 76 (1) 76 58 587 2,449 2,449 183.994 152,476 Page 18 conb'nued...
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMEKTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 SUPPORT COSTS - contlnued Govgmance costs Raising donations and legacies Community development Ithe relief of poverty Other trading activities Accountancy and legal fees Independent examiners, fee's 1,720 1.311 2,210 1,685 54 41 3,031 3,895 95 2024 2023 Sharing and developing Irish arts and culture Total activities Total activities Education Accountancy and legal lees Independent examiners, fee's 4,092 3,119 41 3,783 2,835 41 95 95 7.211 6,618 NET INCOMEI(EXPENDITURE) Net incomellexpenditure) is stated after chargingl(crediting)". 2024 2023 Depreciation - owned assets Other operating leases 673 9.139 587 4,800 10. TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other beneffts for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expensos During the year no trustses were reimbursed out of pocket expenses. Page 19 continued...
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 11. STAFF COSTS 2024 2023 Wages and salaries Social security costs Other penSn costs 138,040 10.059 5,078 120.046 11,568 5.250 153.177 136,864 The average monthly number of employees during the year VRS as follows: Support Staff 2024 2023 One employee reiVed emoluments in excess of £60.000 (2023: one). The key management personnel of the charity compromise of the finan manager. The total employrnent benefits of the key management personnel were £124.751 (2023.. £96.802). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTivmES un$triCted funds 12. Restricted funds Total fijnds INCOME AND ENDOWENTs FROM Donats'ons and legacies 101,785 348.720 450,505 Other trading activrties Investment income 272.488 185 272,488 185 Totsl 374,458 348,720 723.178 EXPENDITURE ON Raising funds 261,032 261,032 Charftable activities Community development l the relief of povety Sharing and developing Irrsh arts and culture Education PeaGe 165,078 15,617 10,9Q6 4,000 176,466 12,241 147.580 341,544 27.858 158,486 4,000 Total 456.633 336,287 792,920 NEf INCOMEI(EXPENDITURE) (82.175) 12,433 (69,742) RECONCILIATION OF FUNDS Total funds brought forward 344,096 1,231 345,327 TOTAL FUNDS CARRIED FORWARD 261.921 13,664 275,585 Page 20 conts'nued..,
THE IREIAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 13. TANGIBLE FIXED ASSETS Fixtures and fittings Computer equipment Totals COST At 1 April 2023 Additions 22,233 2,495 3.353 24,728 3,353 At 31 hAarch 2024 22,233 5,848 28,081 DEPRECIATION At 1 April 2023 Charge for year 22,226 2.424 666 24,650 673 At 31 March 2024 22,233 3,090 25,323 NEf BOOKVALUE At 31 March 2024 2.758 2,758 At 31 March 2023 71 78 14. DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR 2024 2023 Trade debtors Qlher debtors Prepayments 108,841 3,800 10,523 88,037 8.824 123,164 96.861 15. CREDITORS: AMOUNTS FALLING DUEwrrHIN ONE YEAR 2024 2023 Grant obligations Social security and other taxes Other creditors Accrued expenses Defed income (see below) 68,264 146,165 4.941 1,494 3,120 43.550 2,840 53,200 116,428 207,146 2024 2023 Brought forward Amount released to incoming resources Amount deferred in year 53,200 (53,200) 43,550 36,747 (36,747) 53,200 Carried forward 43.550 53,200 Page 21 continued...
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS -¢ondnued FOR THE YEAR ENDED 31 MARCH 2024 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Total funds Unrestricted fvnds 2023 Total funds Restricted funds Fixed assets Current assets Current liabilities 2,758 506.169 (116.428) 2.758 578,161 (116,428) 78 482,653 (207,146) 71,992 392,499 71,992 464,491 275.585 17. MOVEMENT IN FUNDS Net movement in funds Transfers beeen funds At 31.3.24 At 1.4.23 Unrestricted funds General fund IFGB Grant Round 261,921 149,319 <18,741) (39,750) 39,750 371,490 21,009 Restricted funds Donor Advised Grants- c(ynmunity Care and Development DDncr Advised Grant - Education Donor Advised Grants - Irish Arts and Culture 261.921 130.578 392,499 11.089 2,575 29.813 19,015 40,902 21,590 9,500 9,500 13,664 58,328 71,992 TOTAL FUNDS 275.585 188,906 464,491 Net movement in funds, induded in the above are as follows: Incoming resources Resour expended Movement in funds Unrestricted funds General fvnd IFGB Grant Round 434.833 80,000 (285,514) (98,741) 149,319 (18,741) Restricteql funds Donor Advised Grants - Community Care and Development Doncr Advised Grant- Education Donor Advised Grants - Irish Arts and Culture 514.833 (384,255) 130.578 206.691 172.510 (176,878) (153.495) 29,813 19.015 72,827 {63.327) 9.500 452.028 {393,700) 58,328 TOTAL FUNDS 966,861 (777.955) 188,906 Page 22 continued...
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT IN FUNDS - conts.nuod 17. Comparatives for movement in funds Net movement in fijnds Transfers beeen funds At 31.3.23 At 1.4.22 Unrestricted funds General fund IFGB Grant Round 309.651 34,445 5,653 (87,828} (53,383} 53,383 261,921 Rostrictsd funds Donor Advised Grants - Communrty Care and DevelopTrEnt Donor Advised Grant- Education 344,096 (82,175) 281,921 (250) 1.481 11,33g 1,094 11,089 2.575 1,231 12,433 13,664 TOTAL FUNDS 345.327 (69.742) 275,585 Comparative net movement in funds, included in the above are as follows: Incoming resour Resources expended Movement in funds Unrestricted funds General fijnd IFGB Grant Round 273.036 101.422 {267.383) (189,250) 5,653 (87,828) Restrlcted funds Doncr Advised Grants - Commnty Care and Development Donor Advised Grant - Education Donor Advised Grants - Irish Arts and Culture 374,458 {456,633) (82,175) 188,016 148,463 (176.677) (147.369) 11,339 1,094 12.241 (12,241) 348.720 (336,287) 12.433 TOTAL FUNDS 723,178 {792,920) (69,742) Donor Advised Grants - Community Care and Develownent Monies received into this fund are available to help fund cnmmunity programmes as agreed by the donor. Donor Advised Grants - Education Monies received into this fund are available to help fund educab'onal progrdmmes as agreed by the donor. Donor Advised Grants - Irish Arts and Culture Monies received into this fund are available to help fund programmes to promote Irish Arts and Culture as agreed by the donor. Page 23 continued...
THE IRELAND FUND OF GREAT BRITAIN NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 MARCH 2024 17. MOVEMENT IN FUNDS - continued Donor Advbed Grants - Peace Monies received into this fund are available to help fund pea prograrnmes as agreed by the donor. RELATED PARTY DISCLOSURES 18. During the year donations We received from trustees amounting to £47,885 {2023.' £41.040). ULTIMATE CONTROLLING PARTY 19. The charitable company is not un(ler the control of another entity or any one individual. Page 24