Company No: Nll037402 Charity No: NIC100073 An GAoiaras Llmlted (A Company Limltcd by GllAraiitoc) Accounts for the year endod 31 Mpdrcli 2024 An Gaelaras Limited (A Company Limited by Guarantee) Contents Page Informatioii Directors, Report Indepeiident Auditor's report 7-11 Stateiiient of f4 inancial Activities 12 Balance sheet 13 Statement of Casliflows 14 Notes to tlie accounts 15-23 An Gaelaras Limited (A Company Limited by Guarantee) Information Charity Number NIC 100073 CompAny Number N1037402 Secretary padraigln Nf Mhaonaigh Resigned l December 2023 Directors Mary Mccallion Deagian O Mochain Laurence Mccurry Nicol¢ Rabbet Antoin De Brun Dr Kati¢ Nic Aiiidreasa Dr Éamonn O Ciardha Sinead Coyle Gearoid O'Hara (Cathaoirleachlchairperson) Appointed l December 2023 Resigned 23 August 2023 Auditors McGroarty Mccafferty & Coinpany Accountants & Registered Auditors 2 Carlisle Terrace Derry BT48 6JX RegistorL>d Office Culturlann Ul Chanain 3 7 Morshraid Shémais Doire BT48 7DF Business address 37 Morshraid Shémais Doire BT48 7DF Bankers Banc na hÉireannlBank of Ireland 27 Culinor¢ Road Doire/Derry BT48 8JB Solicitors Jaok Quigley Solioitors 37 Clarendon Street Derry BT48 7ER Page I An Gaeiaras Limited (A Company Limited by Guarantee) Report of the directors for the year ended 31 March 2024 Tlie directors present their report and tlie finaiicial statements for th¢ year ended 31 March 2024. The directors of An Gaelaras Limited for the purposes of coinpany law and who served during the year and up to the date of tliis report are as follows: Mary Mccallion Antoin De Brun Laurence M¢Curry Dr Katie Nic Aindreasa Gearoid O'Hara- Resigiied 23 August 2023 Nicole Rabbet Dr Éamonn O Ciardha Deaglan O Mochain Sinead Coyle - Appointed l December 2023 Chairporson Introduction We liad a great start to the year with Siubhan Nfo Ainhlaoibh newly employed in her role as manager. This gave us an opportunity to retliink our plans. We began to be planning ahead again as we emerge from an unsettled period witli Covid. Unfortunately, we lost significant fundinE from tlie Education Authorlty which ended the Léargas programme. a prograIn for teaching Irisli that took place weekly in English schools, for the past 10 years. Due to this loss of funding, we l)ave lost two valuable members of staff. John Dobbins and Sarah Coulhon. We were fortunate to be able to employ John as Adininistrator and Deputy Education Co-ordinator later in the year. We still feel the iInportant long-terni implications of Covid on our audience and participants, but it important to recogiiise tliat tlie nujnber of people attending class¢s is now rising again. economic challenges are affecting us greatly as our current costs aro rising, our internal costs are rising and ther¢ exists increased competition for funding. We welcomed Cara McLaughlin, Paul Mclntyre and Brian Kelly. Each of these employees made a positive coiitribution to tlie team this year. We welcomed Sinéad Coyle to the board this year. We said goodbye to paidri8ln Nf Mliaonaigli and G¢arOid O IiEara froin the board. They each brouglit with them distinct skills and Coiisiderable drive for s¢veral years. W¢ thank them, and our sincere tlianks goes out to Gearoid. who founded the organisation and was its director for more than tliirty years, All of our programs continued this year; over 400 learning Irish in Irish Classes, and 300 leariiing ti?ditional Inusic in the Music Acadeiny. We added to our program established social activities, with chat circles> quiz and biiigo iiiglits, and weekeiid activities for young people. We delivered another successful IMBOLC festival in whicli several coiicerts We￿ sold out during the week. There was a very lively Concert for children with KILA and a fundraising night for Gaz4 supported by many traditional musicians. This year we have seen increased interest in the classes in Waterside, which have been made available to those who do not have a traditional connection to the l£uiguaBe. We also continue to engage with many community partners, and this creates great opporlunities for us. Significant work has been done this year in partnership with various groups. We were Working with the Heritage Consortiuin led by the Foyle Civic Trust and funded by the National Lottery. througli this we were fortunate to be able to iiicrease our organisational skills in relation to the care to be given to our heritage buildiiigs and that work will continue. Additional invcstment in our community came througli the Coininunity Wealtli Building partnership, of which Siubhan is the vice chair. This group is working to ensure that the inoiiey made in Derry and the Northwest stays locally in the community, and that local people benefIt from it. Page 2 An Gaelaras Limited (A Company Limited by Guarantee) Report of the directors for the year ended 31 March 2024 W¢'v¢ work¢d Iiard to raise the in¢ome we n¢ed to keep our services going? and a special thank you goes out to our long-term fund¢rs and supporters - Foras na Gaeilg¢, Th¢ Arts Coun¢il, Tlie Department of Foreign Affairs, The Commuiiity Relations Council, D¢rry City and Strabane District Council, and the Ultach Trust. This year we also received the news tliat 3-year funding froin the Education Autliority will be Inade available for Club Oige Setwita - our all-Irisli youth club, This was a major achievement for the organisation as there ar¢ only 2 all-Irish clubs fuiided through this sclieme. We would not b¢ able to achieve our objectives without this ongoing support from the groups Ineiitioned above. Mary Nlc Ailln, Cathaoirleach an Bhoird Our Alms and Objectlves An Gaeiaras Limited is a cliarity, which was established to promote the Irisli language and Irish culture in the North West. The orgaiiisation's vision is to create a shared, bilingual community in the Northwest, invested in Irish culture in tlie broadest sense. We nurture the Irish language and Irish Gulture, connecting generations and coininunities, tlirough ¢ducatioii, ¢¢l¢bration and cr¢ativity. We have values that are important in the work we do, and these values are Empathy, Community, Appreciation, Gratitude and Integrity. In order to contribule to Ilie charitable goals of the organisation, this y¢ar, we undertook the following events: Cliib Oige Setaiita- an all-lrish youth club that meets the ne¢ds of young people with Irish - three niglits a week. We tauglit Irisli to 400+ people, with 4x intensive courses, weekly classes and alasses over the summer. We tauglil Inusic to 300+ people at the Music Acadeiny. We provided a social prograin in Irish, with ceilidhs, quizzes, trips to the Gaeltacht. multiple facilitated coiiversation circles, bingo nights etc. Special events for cliildren - such as weekly introductions to language and Culture, An arts program with concerts - a liighliglit is the IMBOLC festival in February and Féile le Chéile in September. A cross-coininunity project witli Irisli language classes for tliose who do not have a traditional connection to the language. We continued to work with the joint group to build the wealth of the Derry community, and the joint heritage group to take proper care of our buildings. Tlie board and the team did a lot of work to put togetlier a new strategy that will be the foundation of the organisation's work 24-27. The board and the director agreed on the 5 major goals for the coming years: Teaching Irish and traditional inusic through a range of formal and infornial learning opportunities. To provide a broad artistic program. focusing on crcating opportunitics for education and crcativity throush the medium of Irisli. atld the traditional Irish arts, and to hold exhibitions of tlie best Irish and Irish artists. To provide an Irish youth club that provides language, culture and leadership opportunities, and links to the wider program of the Ui Chanain Cultural Centre. Welcoming non-traditional learners to the Irisli language and the arts, especially those with a broad Unionist background, and who are not traditionally associated witli the Irish I￿]gUage, and to use the language to foster links between cominunities in Derry and the Northwest. Page 3 An Gaelaras Limited (A Company Limited by Guarantee) Report of the directors for the year ended 31 March 2024 Building a strong organisation, developing staff, managing human resources, physical resources, fmancial resources and practising the best goveriiance. Financial Rovi¢w Princi al Fiindin Sources The principal funding sources over tlie relevant financial year have been the Arts Council, Foras na Gaelige, Derry City and Strabane District Council, University of Ulster, Department of Foreign Affairs, The Coinmunity Relatioiis Couiicil aiid tlie Ultacli Trust. Tliis year, our financial healtli faced cliallenges. Our Inaiii sources of revenue-grant and government funding weir iinpa¢ted, leading to a deficit of £2.883 in the current year. To manage this, we took proactive measures to reduce operatioiial cosls, particularly in areas such as office expenses and building maintenance. However, core operational fuiiding remains a concern, especially after the loss of support from the Department of Education. Despite tliese difficulties, we made key investments in new staging and instruments, thanks to grants from the Arts Council. We also received a iiotable ELnonymous donatioii, whiGh helped stabilise our position. Our finaiicial reserves are stable and continue to be assessed. Aebivements and Support We would like to extend our Iieartfelt gratitude to all our supporters, community members, learners, and attendees of our activities for their unwavering cominitment to our mission. The participation of our learners, attendees, and coinmunity partiiers in our Irish language classes, cultural events, and music programs keeps tli¢ h¢art of our organisation beating. Wc are deeply thankful to our dedicated team and board for their liard work and p&ssion, whicli enables us to contiiiue promoting the rich heritage of Irish culture and language. We remain optimistic about tlie future and confident that, together, we will continue to mak¢ a lasting impact on the cominunity. keeping the Irish language and cultural traditions alive and thriving. Go raibh mlle maith agaibli! Structure, Govornancc and Managenient Governin Iment, The organisation is a charitable coinpany limited by guarantee, incorporated on 22 November 1999 and registered as a charity 011 22 November 1999. The Company was established under a Memorandum of Association which establislied the objects and powers of the charitable company and is governed by its Articles of Association. R¢¢r itment and A ointment of t ¢ B Ard of Directors The directors of the company are also charity trustees for tlie purposes of uharity law and under the company's Articles are known as niembers of the Board. Under the requirements of tlie Memorandum and Articles of Association, onc third of the members of tlie Board must stand for re-election at the Annual General Meeting. All meInbers of tlie Board give their time voluntarily and receive no benefits from the charity. Page 4 An Gaeiaras Limited (A Company Limited by Guarantee) R¢port of the directors for the year ended 31 March 2024 Meinbers Induction and Trainin Board Ineinbers are already familiar with the work of An Gaelaras Limited. Board members are encouraged to participate in relevant activities. Obli ations of tlie ar The main obligation of the Board is to develop and oversee the implementation of policy and to ensure that structures aiid management comply with legal requirements and good governance practice. Risk Mana ement The Board has conducted a review of the major risks to which the charity is exposed. Where appropriate systems and pi'ocedures liave been established to mitigate the risks. Internal control risks are minimised by tlie iinpleineiitation of procedures for authorisation of all transactions and projects. A possible breacli of confideiitiality is an obvious risk. All Board meinbers, staff and volunteers have signed the appropriate confideiitiality agreements. Anothcr major risk is loss of fundiiig. anisatioiial Slructure An Gaeiaras has a Board whicli meets quarterly and is responsible for policy, strategic direction and overall perforinance. There are fortnightly staff meetings and a finance committee meets quarterly. The cominittee includes a Board Meinber, Treasurer, the Project Manager and the Administrationl Finanoe Officer. Tlie manager provid¢s a quart¢rly and monllily report to the Board which includes a financial report and an update on project developinent. Responsibilities of the Board of Dlr¢¢tors The directors are responsible for preparing tlie Director Annual Report and the financial stateinents in accordance witli applicable law and United l LALKQtJCE f+raCLLLaY Page 6 An Gaclaras Limited (A Company Limited by Guarantee) Independcnt auditor'5 report to the directors of An Gaeiaras Limited Opinion We have audited the financial statements of An GaelAr&s Limited for the year ended 31 March 2024 which coinprise the Statemeiit of Financial Activities, the Balance Sheet, Cashflow Statement and the related Iiotes. Tlie financial reporting framework that h&8 been applied in their preparation is applicable law and United Kiiigdom A¢¢ountiiig Standards (United Kingdom Generally Accepted A¢counting Practice) including FRS 102 The Financial Reportiiig Standard applicable in the UK and Republic of Ireland Tliis report is Inade solely to tlie charitable coinpany's directors. as a bodyj in accordance witli Chapter 3 of Part 16 of Ilie Conipanies Act 2006. Our audit work h&s been undertaken so that we might state to the charitable coinpaiiy's directors tliose matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent perinitted by law. w¢ do not accept or assume responsibility to anyone other than tlie charitable coinpany and the charitable company's directors as a body, for our audit work. for this report, or for the opinions we have formed. Iii our opinion tlie finaiicial stateinents: give a true and fair view of tlie state of the charitable company's affairs as at 31 March 2024, and of its iiicomiiig resources and expeiiditurc of resources, including its income and expenditure, for the year then have been properly prepared in a¢cordanGe with Unit¢d Kingdom Gen¢rally Accepted Accounting Practi¢e; aiid liave been prepared in accordance witli the requirements of the Companies Act 2006. Basls for oplnlon We ¢oiidu¢ted our audit in accordance with Iiiternational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are furtlier descrlbed in the auditols responsibilities for tlie audit of tlie financial statements section of our report, We are independent of the charitable coinpany in accordance witli the ethical requirements that are relevant to our audit of the financial stateinents in the UK, including the FRC'S Etliical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that tlie audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions rolating to going Concern In auditing the financial statements, we have Concluded that the directors, use of the going concern basi5 of accounting iii Ilie preparation of the financial statements is appropriat¢. Based on the work we have performed, we have not identified any material uncertainties relating to events or coiiditions that. individually or collectively, may cast significant doubt on the charitable coinpany's ability to coiitinue as a going concern for a period of at least twelve months from when the financial statements are autliorised for issue. Our responsibilities and the responsibilities of tlie dÉrectors witli respect to going concern are described in the relevant sections of tliis report. Page 7 An Gaeiaras Limited (A Company Lxmited by Guarantee) Other information The directors ar¢ responsible for the other information. The other information comprises the information included in tli¢ directors, aniiual report, other tlian the financial statements and our auditor's report thercon. Our opinion on I'lie financial stateinents does not cover other information and, except to the extent otlierwise explicitly stated iii our report, we do not express any form of assurance conclusion thereon. In coiinection witli our audit of the financial stateinents, our responsibility is to read the other iiiforination and, in doiiig so. consider wlietlier tlie otlier inforinatioii is materially inconsistent with the financial stateinents or oui. knowledge obtaiiied in tlie audit or otherwise appears to be materially misstated. If we identify such material iiiconsistencies or appareiit Inaterial misstatements, we are required to detennine whether theR is a matei'ial Inisstatement in the fiiiancial stateinents or a material misstatement of the other inforination. If. based on tlie work we Iiave performed, we conclude that there is a material misstaternent of this otlier information, we are required to report that fact. We Iiave nothing to report in this regard. Oplnlon on other matters prescrlbed by thc Componles Act 2006 Iii our opinion based on the work undertaken in the course of the audit: the inforniation given in tlie directors, annual report for the financial year for which the financial statements are prepared is consisteiit with the financial statements. and tlie directors, aniiual report has been prepared in accordance with applicable legal requirements. Matters on Jvliicli we are required to report by exception Iii tli¢ liglit of our knowledge and understanding of the charitable company and its environment obtained iii the course of the audit, we have not identified material Inisstatements in the directors, annual report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to r¢port to you if, in our opinion: adequate accounting records have not been kept. the finaiicial statemeiits are not in agreement with tlie accounting records and returiis. or certain disclosures of directors, remuneration specified by law are not made. or we have not received all the inforination and explanation5 we require for our audit; thc directors were not entitled to prepare tlie financial statements in accordance with the small companies regiine and take advantage of the small companies exemption from the requirement to prepare a stratcgic report. Page 8 An Gaeiaras Limited (A Company Limited by Guarantee) Responsibilities of thc directors As explained more fully in tlie Direotors, Responsibilities Statement set out on pago 4, the directors (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 beiiig satisfied that they give a true and fair view, and for such internal control as the diKGtors d¢t¢rillin¢ is necessary to enable the preparation of financial stateinents that are f￿¢ from Inaterial misstateinent, whether due to fraud or error. In preparing tlie finaiicial stateineiits, the directors are responsible for assessing the charitable company's ability to continue as a going Concern, disclosiiig, as applicable, matters related to going conceni and using the going concern basis of accounting unless tlie trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alteriiative but to do so. Auditor's rc$pon$lbllltles for the audit of tlio financlal statements Our objectivcs are to obtaiii Itasonable &gsurance about whether the financial stateinents as a wliole are free from Inaterial misstateincnt, wlietlier due to fraud or error, and to issue an auditorfs report tliat includes our opinioii. Reasonable assurance is a Iiigh level of assuraiice, but is not a guarantee that an audit coiiducted 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 tlie econoillic decisions of users taken on the basis of these financial statements. I xplanation as to what exteiit the audit was consldered capable of detecting Irrcgulorities, includlng Irr¢gulai'ities, including fraud, are instances of non-compliance with laws and regulations. We design procedures iii liiie witli our respoiisibilities, outlined above, to detect material misstateineiits in respect of irregularities, includiiig fraud. However, the primary responsibility for the prevention and detection of fraud lies with Inanageinent and the board of directors of the charitable company. Identlfylng and assesslng potential risks related to irregularltlos In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-coinpliance witli laws and regulations, we considered the following: the Iiature of tlie iiidustry? sector and the specific control environment which it operates in; tlie charities own assessment of tlie risks tliat irregularities may occur, either as a result of fraud or error, representatioiis aiid results froin our enquiries with management and the board of directors regarding their owii identification and asse581hent of the risks of irregularities. enquiries of manageinent relating to accounting estimates measurements, recognition criteria and justification of sucli amounts. any matters we have identified haviiig obtained and reviewed the charities policies and procedures relating to. * identifying and assessing if laws and regulations are compliant and whether tliey are aware of any instances of noii-compliance. * detection and response to tlie risk of fraud and whether they are aware of any actual, suspected or alleged fraud instances. Page 9 An Gaeiaras Limited (A Company Limited by Guarantee) * the internal controls designed to mitigate risks or fraud or non-compliance with laws and regulations, and to minimise risk of management overrides of such controls. all Inatters discussed among the audit eiigagement team regarding how and where fraud could occur and the poteiitial indicators of fraud. AB a result of tli¢se procedures, we considered the opportunities and incentives that may exist within the cliarity for fraud. Tlie audit included assessing the procedures and evaluating the me&surement of estiinations. In cominon witli all audits uiider ISAS (UK), we are also required to perform specific procedures to respond to the risk of Inaiiageinent override. We also required an understanding of the legal and regulatory frameworks applicable to the charity and considered that the most significant are the Companies Act 2006, SORP 2019 (FRS 102) and Charities Act (Nortlierii Irelai d) 2008. Audlt respons s to risks Id¢ntifIed Our procedures reviewing the the significant I enquiring witl regarding any a performing ai of material mis reading min perlorinance, id viewing Co submissions or review corres in addressing entries and adj of a potential b normal course to respond to risks identified included tlie following. finaiicial statement disclosures, testing the relevant documentation to assess compliance with ws aiid regulations - those described as having a direct effect on the financial statements. Inaiiageineiit and obtaining tliird paty confimiation from the charitable company's solicitors tual or potential litigation and claims. alytical procedures to identify any unusual or unexpected relationships that may indicate risks tatemeiit due to fraud. tes of board aiid maiiagement meetings, examine forecasting material in lin¢ witli actual ntifying any potential fraud indicators or instaiices. npanies House and Cliarity Commission Northern Ireland correspondence, identify aiiy late Inissions of mandatory information: ondence with HMRC, identifying non compliance of specific information to be disclosed. lie risk of fraud through Inanagement override of controls, testing the appropriateness of dal'a tments. assessing whether the judgements made in making accounting estimates aK indicative as. and evaluating the rationale of any significant transactions that are unusual or outside th¢ f I'lie charities objectives. We also comni team Ineinbers tliroiigliout the nicaled relevant identified laws and regulations and potential fraud risks to all engagement nd reinained alert to any indications of fraud or noncompliance with laws and regulations udit. As part of ali professional sc audit in accordance with ISAS (UK), we exercise professional judgment and maintain ticism tliroughout the audit, We also: Ideiitify and sess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perforin audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. Tlie risk of not detecting a Jnaterial misstatcinent resulting froin fraud is Iiigher thali for oiie resulting from error. as fraud may involve collusion, forgery, intentional oinissions, misrepresentations. or the override of internal control. Page 10 An Gaelaras Limited (A Con)pany Limitcd by Gvarantee) Obtain an und¢rstanding of internal control relevaiit to the audit in order to design audit procedures that are appropi'iate In the circumstaii¢¢s, but not for th¢ purpose of expressing an opinion on the effectiv¢n¢ss of the cliarilable colnp￿1Y'S iiitenial control. Evaluate tlie appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures rnade by the directors. Coiiclude on the appropriateness of the directors, use of the going concern basis of accounting and, based on tlie audit evidence obtained, whether a material uncertainty exists related to events or conditions tliat may cast significant doubt oli the charitable company'5 ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial stateinenls or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on Ilie audit evidence obtained up to the date of the auditor's report. However. fulure events or conditioiis Inay cause th¢ ¢liaritable coinpany to cease to Continue as a going concern. -Evaluate the overall presentstion, structure and content of the financial statements, including the disclosures, and whetlier the fiiiaiicial statements represent the underlying transactions and events in a manner tliat achieves fair presentation. We cominunicttte witli those cliarged with governance regardinE, among otlier matters, tlie planned scope and tiiniiig of the audit and significant audit findings. including any significant deficiencies in internal control that we ideiitify during our audit. pL.I ￿.kn4- Patrick M¢Groarty Scnlor Statutory Auditor for and on behAlf of McGroarty Mecaffcrty & Company Statutory Auditor 2 Carltsle Terrace Derry BT48 6JX Date: 3 October 2024 Page 11 An Gaelaras Limitcd (A Company Limited by Guarantee) Statem¢llt of Financial Activities for the year ended 31 March 2024 Unrestricted Funds Restricted Funds 2024 2023 Inconie and Expenditure Incoming Resources Inconiing resourcesfrom generatingf14nds.' Iiicoming resources froin cliaritable activities Voluiitary income 617,426 617,426 260,715 599,511 179.075 260,715 Total Incomlng Resources 260,715 617,426 878,141 778,586 R¢sourc¢s Ei xpond¢d Charitable activities Goveriiance costs 242,079 634,145 4,800 876,224 4,800 832,959 4.800 Total Resources Ei xpended 242,079 638,945 881,024 837,759 Net Incoming / (Outgoing) Resources 18,636 (21,519) (2,883) (59,173) Balaiices brought forward l April 2023 54,006 1,326.913 1.380.919 1,440,092 Balances carried forward 31 March 2024 15 72.642 1.305,394 1,378,036 1,380,919 Tli¢ above ainounts relate to Continuing operations of the company. The company has no recognised gains and losses other than those included in the results above and therefore no separate statement of total recognised gains and losses has been presented. There is no difference between tlie net incoming resources for tlie year stated above and their historical cost equivalents. Page 12 An Gaelaras Limited (A Company Limited by Guarantee) Balance shcot as at 31 March 2024 2024 2023 Notes ri Ixed assets Tangible assets Current assets Debtors Casli at baiik aiid in hand 3,781,244 3,881,270 81,495 152,596 121,721 142,513 234.091 264,234 Current liabilities Bank loans and overdrafts Othcr credilors Accruals 118,585 28,340 30,239 84,621 I28,803 20,781 10 177,164 234,205 Iyet currcnt assets 56,927 30,029 Total assets less current liabiliÉies 3.838.171 3.911,299 Long-term liabilities 11 (2,460,135) 1.378,036 (2,530,380) Net assets 1,380,919 Income fi unds Brought forward at l April 2023 Unrestricted Restricted 14 72,642 1,305,394 54,006 1,326,913 1,378,036 1,380,919 Tlie fiiiaiicial stateinents are prepared iii accordance with the special provisions of Part 15 of tlie Companies Act 2006 aiid the Chai'ities SORP (FRS 102). The Finaiicial Statements were approved aiid authorised for issue by the Board 3 October 2024 and signed on its behalf by Director Director CYiLcALLioa Date: 3rd October 2024 Date: 3rd October 2024 Company Registration Number: N1037402 Page 13 An Gaelaras Limited (A Company Limited by Guarantee) Statement of Cash flows 8s at 31 March 2024 2024 2023 Operatlng actlvltles Notes Net incoining / (outgoing) resources for tlie year Depreciation and inipairment (Increase)I decrease iii debtors (Decrease)l iiicrease in creditors (2,883) 117,879 40,226 (127,286) (59,173) 117,617 5,701 (67,801) Net cash outflow l (Inflow) from oporatlng Actlvlties 27,936 (3,656) Capital expenditure (17,853) 10,083 (1.140) Increasel Decrease In cash In the year (4,796) Rcconcfiliation of net cush flow to movement In net funds 16 Increasel (Decrease) in cash in the year Net funds at l Aprffil 2023 10.083 142,513 (4,796) 147,309 Net funds at 31 March 2024 152,596 142,513 Page 14 An Gaclaras Limited (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 March 2024 GenerAI information The charity is a private limited company by guarantee, registered in Northern Ireland and a registered cliarity in Nortliern Ireland. The address of the register¢d oificc in Cultorlann Uf Chanain, 37 MOr51iraid Shémais, Doire, BT48 7DF. It is a registered charity with the Charity Commission Northern Ireland witli effect from 16tli May 2014. 1.1. Accountlng conventlon Tlie principal accounting policies adopted in the preparation of the financial statements are set out below aiid Iiave reinained unchanged from the previous year, and also have been consistently applied within tlie same accounts. Tlie charity constitutes a public benefit entity as defined by FRS102. Tlie financial statements liave been prepared in accordance with Accounting and Reporting by Charities: Statement of Recoininended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Staiidard llpplioable in the UK and Republic of Ireland Charities SORP issued in October 2019 and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102), the Companies Act 2006 and the Cliarities Act (Nortliern Ir¢land) 2008 and UK Generally Accepted Accounting Practice. The financial stateinents are prepared on a going concern basis under the historical cost convention, modified to included certain iteins at fair value. Th¢ financial stat¢m¢nts are presented in stcrling wliich is th¢ fuii¢tional currency of th¢ charity. Ineoming resources All incoining resources are included in the stateinent of financial activities when the charity is entitled to tlie income and the amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Income from charilable activities includes botli governement and other grants received, they are recogni5ed at fair value when the charity has entitlement after any performance conditions have been met, it is probable that tlie income will be received and the amount can be measured reliably. If entitlemeiit is not met then diese amounts are deferred, Capital and revenue grants are released to the Statemeiit of Financial Activities in the year in which they are received in line with the SORP Accouiiting & Reporting by Charties (FRS 102), Voluntary incoine is receAved by way of graiits, donations and gifts and is included in full in the statein¢nt of financial aclivities when r¢¢civabl¢. Grants where cntitlem¢nt is not conditional on the delivery of a specific perforniance by the charity, are recognised when the Charity becomes unconditionally entitled to tlie graiit. Donated services and facilities are included at the value to the charity where this can be quantifIed, The value of services provided by volunteers has not been included. Gifts donated for resale are included as incoining resources within activities for geneiatiiig funds when they are sold. Page 15 An Gaelaras Limited (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 Marcb 2024 1.3. Resources expended Expenditure is recogiiised 011 an accrual basis as a liability is incurred. Expenditure includes any VAT wliicli cannot be fully recovered. and is reported as part of the expenditure to which it relates, Charitable expenditure comprises tliose costs incurred by the charity in the delivery of its activities and s¢rvi¢es for its beneficiaries. It iiicludes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. 1.4. Fund a¢counting Unrestricted funds are available for use at tlie discretion of the directors in furtherance of the general objectives of the charity and whicl) have not been designated for other purposes. Restricted fuiids are fuiids wliich are to be used in accordance with specific restrictions imposed by donors or whicli Iiave been raised by the charity for purposes. The cost of raisiiig and administering sucli funds are charged against tlie specific fund. 1.5. TAngiblo fixed asscts and depreclAtlon Tangible fixed assets are stated at cost less depreciatioii. Depreciation is provided at rates calculated to write off tlie cost or valuation less residual value of each asset over its expected useful life, as follows: Land and buildirtgs Equipmeiit 20/0 Straight Line l 0% Straight Line 1.6. Cas11 at bank Casli at bank and cash equivalciits are stated at cost at the financial year end. 1.7. Debtors & creditor5 Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at traiisactioii price. Any losses arising from impairment are recognised in expenditure. 1.8. CApllal granls Capital grants are received in respect of purchase of fixed assets a portion of which is released to the statement of finaiicial activities in the year of receipt. 1.9. Pension costs Tlie pensioii costs cliarged iii the financial statements represent the contributions payable by die charity during the year. 1.10. TAxatlon The cotnpany is a charity and is recognised as such by HM Reveiiue & Customs. As a result, there is no liability to takation on aiiy of its income. 1.11. Casli and cash equivalents Cash and casli equivalents include casli in hand and bank overdrafts. Bank overdrafts are shown within current liabilities. Page 16 An Gaelaras Limited (A Company Limited by Guarantee) Notes to the accounts for the y¢ar ended 31 March 2024 1.12. Foreign currency roreign currency traiisactions are initially recognised by applying to the foreign currency ￿lloUnt the spot exch￿]ge rate between the functional currency and tlie foreign currency at the date of the traiisaction.Fixed asset investments are stated at cost less provision for diminution in value, 1.13. Going coiicern Tlie financial stateincnts have been prepared on a going concern b&sis as the directors believe that no Inaterial uncertainties exist. Tlie directors have considered the level of funds held and the expected level of iiicome and expenditure for 12 moiitlis from authorising these financial statements. The budgeted incoiiie and expenditure are sufficient witli the level of reserves for the charity to be able to continue as a goiiig Goncern. 1.14. Criti¢al aecounting ¢stimatos And Judgements In application of the cliarity's accounting policies, the directors are required to Inake judgeinents, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from otlier sources. The estiinates and associated assumptions are based on historical experieiice aiid other factors that are considered to be relevaiit. Actual results may differ from these estiimates. The estiinates and underlyiiig assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affect on that period, or in tlie pei'iod of the revision and future periods whcrc tlIG i¢vision affccts both currcnt and fulure periods. Page 17 An Gaelaras Limited (A Company Limited by Guarantee) Notes to the accounts for th¢ year ended 31 March 2024 Incoming resources from charitablo actlvltles Restricted Funds 2024 2023 University of Ulster National Lottery - Big Lotteiy Fuiid Departinent of foreigii Affairs Nl Arts Couiicil Foras Na Gaelige Derry City and Strabane District Council Department ofEdu¢ation Glor Na nGael Capital Grants Communily Relatioiis Couiicil Gael Linn Dormant Accounts ' Conradli Na Gaeilge An Ciste Waterside Neiglibourliood Partnership Hoiiorable Irisli Bank of Ireland - Arts Fuiid Community Foundation - Ultach Fund 21.728 15.275 50,746 176,268 145,312 37,327 15,094 1.500 70,245 36,953 15,000 9,500 852 15,126 1,500 21,728 15,275 50,746 176,268 145,312 37,327 15,094 1,500 70,245 36,953 15,000 9.500 852 15,126 1,500 15,128 14,900 12,455 163,319 140.485 31,665 73,136 70,245 31,985 38,000 1,158 5,035 2,000 5,000 5,000 617,426 617.426 599,511 (i) Restrlcted fi unds Funds received wliicli are earmarked by tlie Funder for specific purposes. Such purposes are within the overall aiiiis of tlie orgaiiisation. (11) Unrestricted Funds Funds which are expeiidable at the discretion of the company in furtherance of the aims of th¢ charity. Iii addition fuiids may be held in order to fIiiaiice capital investment and working capital. Page 18 An Gaelaras Limited (A Company Limited by Guarantec) Notes to the accounts for the year cndcd 31 March 2024 Voluntary Ineome Unrestrlcted Funds 2024 2023 Prog In¢ome/ Classes Rental income Box Office Incoine Donations and other incoine 105,178 82,994 37,046 35.497 105,178 82,994 37,046 35,497 80,050 57,698 31,327 i 0,000 260,715 260,715 179,075 Cost of Cliaritable Activities Unrestricted Funds Rostrlctcd Funds Total 2024 Total 2023 Staff costs Misclgeneral expenses Cominunications and IT Otlicr offic¢ expenses Programm¢ costs L¢gal & professional fces Interest payable & similar ¢harg¢s Establishinent costs Motor & travelling expenses Currency variation Depreciation 18.815 777 9.942 7.064 133,984 2,092 4.228 65,023 308.985 327.800 777 11,462 7,064 285,379 2,092 4,228 119,289 202 52 117,879 314,633 544 7,076 10,478 244,926 5,883 2.658 128,642 540 (38) 117,617 1,520 151,395 54,266 202 52 102 117,777 242,079 634,145 876,224 832,959 GovcrnAnco Costs Unrestricted Funds Restricted Funds Total 2024 Total 2023 Auditors Reiiuineration 4,800 4,800 4,800 Page 19 An Gydelaras Limited (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 March 2024 Net (outgoing)l incomlng rosources for the year 2024 2023 Net (outgoing)/ incomiiig resources is stated after charging: Depreciation and other ainounts written off tangible fixed assets Auditor's remuneration 117,879 4,800 117,617 4,800 Staff costs 2024 2023 Wages aiid salaries Pension costs 314,914 12.886 303,374 11,259 327,800 314,633 Number of employees The number of employees who earned more than £60,000 during the year was Nil (2023 - Nil). The average monthly nuinbers of employees during the year, calculated on the basis of full time eoiiival¢nts. was as follows: 2024 Number 2023 Iyumber Number of einployees- Office staff 20 22 Page 20 An Gaelaras Limited (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 March 2024 Tangible assets LAlld and buildings Plant and freehold machinery Equlpm¢nt Totsl Cost At l April 2023 Additions 5,173,852 76,542 347.952 5,598,346 17,853 17,853 At 31 March 2024 5,173,852 76,542 365,805 5,616.199 Depreciation At l April 2023 Cliarge for tlie year 1,361,485 103,477 76,542 279,048 1,717,075 14,402 117.879 At 31 March 2024 1,464,962 76,542 293,450 1,834,954 Net book values At 31 March 2024 3.708.890 72,354 3.781.244 At 31 Marcli 2023 3,812,367 68.903 3,881,270 Debtors 2024 2023 Debtors Other debtors 76,473 5.022 87.179 34,542 81,495 121.721 10. Current liabllltles 2024 2023 Bank loans and ovei'drafts Taxes and social security costs Otlier creditors D¢ferred Income Accruals 118,585 3,760 665 23,915 30,239 84,621 7,466 63,346 57,991 20,781 177,164 234,205 Page 21 An Gaelaras Limited (A Company Limited by Guarantee) Iyotes to the accounts for the year ended 31 March 2024 11. Long-term liabilities 2024 2023 Capital Graiits (See Note 12) 2,460,135 2,530,380 12. Capital Grants 2024 2023 At l April 2023 Less: Capital Graiits Amortised At 31 Marcli 2024 2,530,380 (70,245) 2,460,135 2,600,625 (70,245) 2,530,380 13. Security The Bank of Ireland holds tlie following securities. Legal mortgage dated 0611112003 over 37 Great James Street, Derry. Letter of set off dated 1010712009. 14. Analysis of net assets behv¢cn funds Unrestrlcted Restricted Total Fund balanc¢s at 31 March 2024 as represented by: Tangible fixed assets Current assets Liabilities 916 3,780,328 3,781,244 190,977 43,114 234,091 (119,251) (2,518,048) (2,637,299) 72,642 1,305,394 1,378,036 Page 22 An Gaelaras Limited (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 March 2024 15. Movoments In Funds At l Aprll Incomlng Outgolng 2023 resources resources Transfcrs At 31 March 2024 Rcstricted funds: Total restricted funds Unrestrlcted funds: Total uiirestriGted funds 1,326,913 617,426 (638,945) 1,305,394 54,006 260,715 (242,079) 72,642 Total fuiids 1,380,919 878,141 (881,024) 1,378,036 Purposes of Restricted Funds Restricted grants awarded to the charity is provided to cover the core objects &s explained in directors report. 16. Anlllysis of changes In net eashnow Opening balance CAsh flows Closing balance Cash at bank and in hand 142,513 10,083 152.596 17, Rolated Party Transactions There was no related party traiisactions in the year under review. 18. Liniitcd by Guarantee The coinpany is limited by guarantee aiid does not have a share capital. Every member of the company undertakes to contribute such amount as may be required not exceeding £1 to tlie assets of the charitable company in the event of its being wound up while he or she is a m¢inb¢r, or withiii one year after he or sli¢ ceases to be a member. 19. Controlllng Interest Controlling interest rests with th¢ Board of Directors. 20. Post Balance Slieet events No sigiiificant events have taken place since the year end that would result in adjustments to 2024 financial information or inclusion of a note thereto. Page 23