Chxrity Registration iNo. I%IC100147 IONTAOBHAS NAGAELSCOLAfiocHTA ANNUAL REpoirr AND FINAliCIALSTATEMF.NT.% FOR THF. YKAR ENDED 31 MARCH 2024
IONTAOBHAS NA GAELSCOLAIOCHTA LF.GALAND ADMINISTIIATIVE INFOKMATION Charity number NIC100147 PrincipAI Address Ar&$ na bhFai ?090? Falls Road Belf&st Northcrn Ircland BTI?6AH Audilor SLMD Limiled Ilnit Ci Forcslvicw OITICC Purdy's Lanc Belfast BT8 7AR B*nke Bthnk or Ireland Belfasl c.ily Brnnch 4-8 1 ligh Strttl BTI ?BA
IONTAOBHAS NA GAELSCOLAIOCHTA CONTENTS Page TnLStces r¢p)rt Ind¢denl audilorfs rcw)rt Statement of financial aciivities '0S to tk finala1 statcmcnis 10- 18
IONTAOBHAS IYA GAELSCOLAIOCHTA
TRUSTFES REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trusiecs present their rqkn and fi181 ststemenls for ihe year end
IONTAOBHAS NA GAELSCOLAIOCHTA TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Goin% concern Thc LlhildinLC Shttl al ihe end of ihc year shows unrcsirictcd reserves of £1.40• 860 and rc51riCted re5m of L?.O?1.060. The Trustec5 will coniinuc to look. at incL)m¢ bcneraling opwrtunitics to cnabl¢ it to continu¢ to provid¢ srJni &%$1stan IL) lri%h Medium s¢hool5. Thc trustccs havc concludcd duc to the approprialc level of re5erv¢s and th¢ building being fully rented oui. Ihe going oncern is appropriaie. Givcn th¢ alx)ve, th¢ IfuSic¢'s bclicve (hai it is appropriatc lo prcwrc thc financitsl sthtcmenL$ on a going con¢ern b&sis. Ini'¢slm¢nts The Trust completcd thc con%iruction of the Ar&$ na BhFal buildingi on lh¢ Falls Road in January ?020. The building is w fully renled oul lo provide funds to the Trusl to enable il ¢0 continue lo pursue its ¢hariuthle a¢livili¢& Plknny for the fulu Goin8 forward it will continue lo provide fundin¥ to Irish Mcdium 5¢hLK)15 for 0mModatIon w)d Nnning CL)5L%. Sirueturt. 2overninet And mxn2tmtnt Th¢ Tru51¢¢5 WIKI 5cp4cd during thc yLar w¢r¢: Jack'ie I'"ilmih trick IA)rcan Mac Gabhjnn Gcaroid O Muillcoir Pilib Mi51éil Padraig O C¢allatgh Audilo Aficr thc Juditd finJncial statcmcnL% for thc ycar cndcd 31 st March ?017 wcrc approved by the Ix)ard of lon1bha5 na Ga¢10110chty The TnLSi iniiinied a t¢nder to provide audiied a¢wuni.s for the next three yews, As a result of thts l¢nd¢'r pwie5s lon&M)bhas na Ga¢lsc0laih appoinled SLMD Limiled Tla Ilridge. Chartcrcd Accounthnis for a pcriod of thr¢¢ yrar5. Dul io ihe limithiion% prc4cnicd duc io C.ovid-19, no n¢w iLnder% ivcr¢ soughi and Ihe commiiiec asrrtd 10 coniinuc with SLMD Lid Tla Ilridg¢. C:hanLrLd AiCounuts b¢inx ih¢ audi14)Pth for the y¢ar ¢ndd 1151 M4r¥h 2024.
IONTAOBHAS NA GAELSCOLAIOCHTA STATF,MF.NT OFTRUSTEES RE¢iPONSIBILITIES FOR THE YE4R ENDED 31 M4RCH 2024 The Trustr¢% jre rcskxinsibl¢ for prcpuring the Trustees Rert thc financial stsments in Irdance with applicable law and Unilcd Kingdom Accountinb Siandards (Unitd Kinsdom Genernlly Accepled Ac¢ounling P11¢¢). The Charities Act (Nl) 2008. rcquircs thc Trn5tc¢s to ppar¢ financial stlltemenls for each financial year which give a true und rair VTew of the financial FK)Sition of the Trusl. In prcpjring ¢hes¢ ihe Tnttts are required to: - sclcci suiiable accounting poli¢i¢s and ih¢n apply them ¢onsist¢nily' - obcrY¢ ihe methcmls and principlcs in thc Clllwilics SORP. - make judgements and cstimatrs thJi arc re&sonablc and pnent. - wh¢¢h¢r 4ppli¢abl¢ a¢counlin8 sLindards have been followed. subjcci any matcrial d¢panurcs disclosed and explaincd in ihe u¢¢ounts: and - pr¢par¢ the finala1 sta¢¢m¢nts on the going concern basis unle&4 it is inapproprialc to pr¢sum¢ that the Trust will conlinue in opernlion. The Truslecs are rc5p)nsible for kccpins sulTicieni attounling records lh di10 with r¢&%onable accurncy al any limc thc fin¢11 wsilion of thc Trust wid enable thcm to cnsurc th ihc accounis comply wilh current Charity law and the provi%ioTh of ihe irusi dcd. Th¢y art also rc5wnsible for safegTruthing tk assels of th¢ Trusl 4nd hence for thkins r&isonable skP5 for th¢ preveniion und dct¢thion of fraud other irre¥tslariii¢s. The Tn1¢¢5 rcport was approved by thc Board ofTrustces. ReRi%ted oif*e: ArLs nJ bhF&I 200-?0? Falls R(Trad Bclf'&%i Nortl)crn Ircland B'I'I?6AII Mr p C) CeallaiRh Ci%teoir
IONTAOBHAS NAGAELSCOLAIOCHTA
INDF.PFNDF.NT AUDITOR'S REPORT
TO THE MEMBERS OF IONTAOBHAS NA GAF.LSCOLAiOCHTA
Opinion
'¢ have audited th¢ financial slatcmcnls of lontsobha% na Gxl%¢old5hla (th¢ 'Trus1') lor ihc yur endcd 31 Murch 20?4 which
<omprise ihc Staicrncnl of Financial Aciivili¢s, the Bdlance Sheci and thc noics lo Ihc finaniial slu¢¢mcnls. iniluding a summ4
of sib?nifi¢dni a¢iouniing policiL•S. The financial rcwrtins fraMC'0rK ihal h&s bccn Jpplicd in thcir P parJtion is appli¢ablc
law and Uniled Kinsdom Acwuniins Standtsrds.. in¢ludingp Financial Reporting SLmdard 10? ThL' hinanL'ial RipOriinA..Unddrd
appli¢ublv in UA andR¢piihlic nfln'lundlUnit¢d kingdom Gcnernlly Acccptcd Accounting Practi¢c},
In our opiniort ihe financial slalements:
give ll INC and fair view of the slate of the TTusI's alTairs Ls 31 March ?0?4 and of its inc4)mins r¢sou¢% WKI
applicaiion of rcwurcc.4. for the ycar thcn cndcd:
have been pmperly prcparcd in accordance wilh Unilcd Kingdom Gcncrnlly Acccptcd A¢¢ounting Practice: and
have been prcpar¢d in QCLordunc¢ with the requ1Men{S of Ihe Chwiiicb Aci (Nl} 2(K)8.
Bsis for opinion
We ionducted our audil in accordance with Inlernationnl Siandards on Audilin¥ (UJ¥) (ISAS (UK)) and Upplicable IMW. Our
f(rK)nsIbIlitIeS wider th0 LdardS llre further dexribcd in the Auditorfs re&wn%ibilitics for the audit of ihc finanLial
5taicmcnts ((son of our rcwrt, ,¢ art indcp¢ndent of the Trust in aL'conlance with the cihical requirem¢nts Ihai arr rrlcvJnl
lo our audit of ihc finan¢ial ta[Cments in the UK. includinb thc FRC s Ethic&l und wc have fulfilled our other ethical
r¢%wnsibililies in )rd&nCe with ihes¢ requirements. Wc believe lh thc a111 cvidcnce we havc obLiined is sulTicienl and
ppropriatr to provid¢ a b&%'is for our opinion.
Con¢lusionJ relating to Eoin£ eoneern
In audiling lh¢ finala1 stulemcnts. wc havc eQfKludcd thai Truslecs. usc of thc goinb basis of &¢ounling in the
ppanI10n ofihe financial st¥liem¢nL% is appropriat¢.
BiiKd on Ihc work. WL havc wrforn)ed. we havc nix idcniified wiy material unccrtainlics rclating io events Of conditions IhaL
individually or ¢olleciively. mdy casl signifi&qnl doubl on the Trusl's abilily lo conlinuc a b?oin¥ concern for a peri of al least
twelve month% from whcn thc financial %lalcmcnL¥ aff auihori5¢d for issue.
Our rL'4ponsibilities and thc %nSibIlItIe¥ of ihc TNslctr wilh rt5.¢1 kn going ¢onc¢rn &re des¢ribed in the r¢l¢vJnt 4e¢(ions or
thi% rcrmirt.
ther inforniation
l-h¢ othcr infomialion wmpri%cN of the infomiation inLluded in (he dnnudl rcw)rt. oihLr than ihc financial &tdicmLnL% c)ur
auditor's rL'Fk)rt ihcreon. 'Il)c 'l'rusie¢s ar¢ responsible for ihe other inforniaiion, Our opinion on the financial sthtimenLS does
nL)l iovcr ihc oih¢r infornilllion And, ¢¥c¢pl lo ihe extenl oihLrwisc expliciily slal¢d in our reFxirL we
ION'TAOBHAS NA GAELSCOLAIOCHTA INDF.PF.liDF.h'T AUDITOR'S REPORT (CONTINUF.D) TO THF. MFMBF.R.S OF IONTAOBHAS YA GAF.LSCOLAIoClA MllerS ort which we jre rcquired to report by exceplion In the lishi of ihc knowledgc and understanding of the Trnstces and IL% environmeni obtained in the of th¢ audiL we Ivc nol identified material mis51alemenls in (he Trusk¢s Report. Wc have hIng w rew)rt in rcspcth ofthc following m(cr5 in rclaiion w which the Charities (Accowlts and Repons) Regulaiions (N'l) ?015 rcquircs to rcsK)rt lo you if. in our opinion: Ihc inforniion sivcn in thc Tte¢S RcwTrrt is Inn5151Cnl in any malerial re5iKcI with ihc a¢¢ounts: or sufficicnl akcounling rccords hav¢ not been kepi. or returns adequalc for our Audit have n(M been received branch not visiied by us: or Ihe accounL% are not in abrecm¢ni with thr a¢¢ouniin8 rrwrds and rffjurns: or we have not received all the infomwion and cxplanaiions wc rcquirc for our audit. Rt¥pon%ibilitie% of Trn4lee4 A% cxplJinL.d morc fully in thc Suicmcni of Trusttts R¢Sn$1b111tIc5. Ihe TrUer% arc rcsponsible for the prcparntion of the finanlial Sthlcmcnts and for bcing Sdtlsfied ikni they give u iruc and fair vicw. and for such infern control the Irustees derL'miin¢ is n¢¢¢&w w enable thc preparntion of financial siaicmcnts thai are frec from maicri&l misstai¢ment. whether due to fraud or error. In prcparin8 th¢ financial 51atcmcnts. the Tru51e¢s ar¢ r¢SnSIble for &ssessin8 the Tru#'s abiliry to c(mtinue a goin8 concern, disLlo%ingi. tis 4)plicable. mallcts rclaicd io soins ¢onccrn and using thc going C4YKern basis of 4Kcounling unles5 Ihe Truslccs ¢iihcr inl¢nd ¢0 C¢ OF¢Nions. or have no r¢alistic alicrnalive bul lo do so.
IONTAOBHAS NA GAELSCOLAIOCHTA INDF.PF.I%DF.NT AUDITOR'.4i REPORT (CONTINUED) TO THF. MF.MBF.ILS OF IONTAOBHA.S NA GAELSCOLAIOCHTA Auditor's r¢sponsibiliti¢s for the audit of the financial statements ur objecti%'es arc lo obi4iin 4onible &ssurance about whether ihe financial slalcmcnls a wlK)le drc frec from malcrial misslJt¥mcn¢. wh¢ih¢r due to frnud or error, and 10 issu¢ )n ftudiiols rewn (hal includes our opinion. Rcayon4?bl¢ d755uranc¢ 15 a hish Icvcl ofa&%urancc. bul is not a 8uurJnlcc th an audit Conductd in a¢cor&vbCC With ISA.s (UK) will al34 detect a malcrsal mi.%sthtcment when it ¢xt%ts. MissLil¢menL% ¢an arise from fraud or error and ur¢ ¢onsidcrcd maierial if. individually or in the aggregate. they wuld rSOnabl b¢ eXpd to influen¢¢ th¢ ¢Yonomi¢ d¢¢isi0fis of US¢Pi lak¢n on the basis of thcsc financi 5tatemcnts. I"h¢ cxlcni to which our procedures Jre capable of dec¢ing irrtsulari¢i¢& including fnud is detailed below. I'ht exlent lo which the Jjudil wa¥ considercd capable of d12 irYr£yl4ritiC8 in¢ludinR frnud Our approuch lo idcniifyingi &ssessin¥ lh¢ risks of material missthlemenl in res[1 of irregularities. includin8 fraud and non- ¢iimpli'lC with laws and rCsulJlio5. was" follows: thc cngagement pJrtn¢Y ensurtd that the ensagwemenl team collcciivcly the appropriat¢ wmpeien¢¢. ¢apabilitic% fjnd skills 10 ideniify or rccognise nonrycomplianc¢ with 4ipplicable laws and rLgulations: we identified the laws and regulations applicable io the TnLsI through disc10n$ with Truskn Jnd er manabpcment. and from our kJK)wlcd¥?c and cxwicnce of thc charily sCCtor' we focused on 5rrtific law5 and rcgulalion5 which we con%idered may h)vc 4 dtrecl materiul effe¢1 on (he financiDI stalcmcnt5 or thc opcrnlions of ihc TrusL iftcludinb ihe Charities Aci ?008. tsLxalion Icgisl&iion and dats protcclis)n. anti-brilxry and ¢mploym¢ni laws. we Lucsscd the cxlcnt of ¢ompli&ncc with Ihe laws and rcgul#lions ideniificd above through making cnquiric& of management and inspccling Icgal LX)rro4rK>ndcntt' and ideniified laws and regulations W¢T¢ wmmunicaled within ihe audil t¢am regularly and lh¢ lum remained alert lo ofnontrwmpli8n¢¢ ihrou8houl th¢ audit. e asKssed the suscepiibility of the Trust's financial stJtem¢nLs to material rnissthlemenL including OainIng nd¢rsthnding of how fraud mikvhi 0Ur. by: making? cnquiric% ofmanagcmcnl as to whcrc Ihcy con5idertd there was SUS¢CPtibilily lo fraud. Ihetr knowl¢dbVC of actual. SUsp¢cd and allcb?ed fraud: and To address the risk of frnud through manasemeni bi and override of Controls. we: perfornied analyiical procedures ideniify any unusual or unexpected relationships; tested journal enlrics lo identify unusual Iransaciions: invcstigalcd ¢hc rntionalc behind SIlfi¢l1 or unus] ¢rslI0n$. Iii r¥Thponse io Ihe ri%k of irregiularilies and non•wmplian¢¢ with laws and reg?ulations. we d¢4ign¢d PredUreS which tlded. bui were nol limited . agrccing financial siaiemeni disclosures io underfying supporting (kmentalIon. rc¥lin8 the minut¢s of mcetings of those charged with ¥ovcrnance: cnquirinB of manabpcmcnl to And pAcnlial li¢ibTralion and claims: Thcrc Jrc inhcrcni limitJlion5 in our Judii prdur¢S dCribed at#)ve. The mor¢ removcd ihai and rc¥ulalion% arc frum rinanciJl lrnn%uclions. thc Ickn lik.ely it 1% ihdl w¢ would b¢¢omc aw.ve of nonompliiWC¢. Audilin¥ sland.vd% limil the .iudii pn)ccdurc% rcquircd io idLnlify non<vmPlicC wilh lttws 'md r¢¥ulions to cnquiry of thc Trustccs and oihcr munagcmcnl thc in5PCCiion of regul.ry and Icb'al corr¢SkKMd¢n¥c. if iiny. 1.Itcrial mi5slal¢mLnl% ihdl du¢ to frnud can be luvdrr io ddeci than thosc ihal ari5c from crror thcy may involvc dL.libcral¢ ¢on¢calmcnt or ¢ollu.sion, A funher description of our res1151b1]ltlcs for the iudit of ihc financial statCTncnt% is I(.11( on the fin.Incial Relxirtins LounLiI S I%Lbsile ai: . This dc%criplion fomL% of our aUdIr s ri'port.
IONTAOBHAS NA GAELSCOLAIOCHTA IliDF.PF.NDENT AUDITOR'S REPORT (CONTINUED) TO THF. MF.MBF.RS OF IONTAOBHAS NA GAF.LSCOLAIOCHTA Thi% r¢p)rt is made Solely to the TnLS¢5. as a tK)dy. in ac¢or&ince wi¢h seciion 65 of the Chariiies Affl (Nl) 2008 and rcgulatlOll5 mad¢ undcr scction 66 of ihat Act. Our audil work been undertaken so wc mighi sthte to ihe TTUStc¢s tlx)se rnaU¢rs we are required stalc lo Ihem in an audilors. r¢p)n and for no othcr purpose. To ilie fullesl exlenl perniillcd by I11%,, '¢ do nol a¢pl or assum¢ r¢5ponsibilily 10 an>'on¢ oiher Ihan Ihi Trust (thd ils Trusle¢s as a Ix)dy. for our audil work. for this rrpon. or for the opinions w¢ hdv¢ fomcd. Ir S¢2rnui Dwl (Senior S(•tulory Audilor) for and on b¢h4lf of&iLMD Limited Ch¥rtern AccountsnL S1¢0 Auditor Unli G Fore%tview oifiee Purdv'¥ Llnt 13 7AR
IONTAOBHAS NA GAELSCOLAIOCHTA STATEMF.NT OF FINANCIALA1v1TIES INCLL'DII%G INCOME AND EXPEliDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Re¥lrided fun(L% fund lotsl 2024 'lotxl 2023 nm xndendowm ntsfrTrm: Donations and Grnnls Charitabl¢ Klivilies Invc%tmcnL Othcr in<ome 30.359 127.916 6.452 39.358 127.916 6.452 2.160.8.19 129.113 12.188 To¢1 in¢ome 4nd endowmenls 164.7?7 173.726 2.30?.593 nditureon: C.haritsbl¢ a¢¢ivi¢ies 280.163 96.975 377.138 4?0.478 et (expenditur¢Yin¢ome for th¢ yurl movement in fund (115.436) {87.976) (203.412) .88? 115 Fund balan¢¢s at l April 2023 1.518.296 2.109.036 3.6?7.332 .745 ?17 Trund balances •131 M*rch 2024 1,402.860 2.021.060 3.423.920 3.627,332
IONTAOBHAS NA GAELSCOLAIOCHTA BALANCE SHFFT ASAT31 MARCH2024 2024 2023 Notes Fixtd nssQt¥ lanbiblc &sscts Invesiment properties ?.478.6 266.39? ?.532.438 ?66.39? 12 2.745.088 ?.798.830 Cknrr¢nt i&%¢ts D¢bto C&sh at bank WKI in hJnd 13 ?8.686 ? 644J59 33.860 2.739.119 2.673245 2.772.979 cdI10r. amounts flliAg due within one yeAr 14 ?30.743) (141,614) Net ¢urrcnl Jss¢ts 2.44150? 2.631.365 Tot1 Aqsets le& curTrnt libiliti¢s 5.187.590 5.430.195 Crrditon: AmounLi fllin%du¢ after mort thAn one year Is (1,76.3.670) (1.80?.8C>l) et 3.4?3.9?0 3.67.33? Income fun¢ts Rc51riLl¢d funds Unrc%lriclcd funds 17 16 ?.0?1.060 1.40? 860 109.016 3.6?7..33? The dccounts wert approved by thc I rusl¢¢> on .. F..&w-9£ Ir PO CvallJi2h C'isleoir
IONTAOBHAS h'A GAELSCOLAIOCHTA
NOTF.S TO THE FIYANCIAL STATEMF.]%TS
FOR THE YEAR ENDED 31 MARCH 2024
Aeeounlin% policiey
1.1 Actounting eonvenlion
Thcsc finanLiuJ slal¢rn¢nis have been prepared in accordancc with FRS I O? The Fin1claI Rryrting SLindard Jppli¢able
in thc UK llnd Republic of Ir¢land' (FRS 10?
the Slement of Re¢omm¢nded Practice applicalylc to Charitics
(Charities SORP FRS 102) and the requir¢ments of thc Charitics Aci (Northern Ireland) *008.
The account£ arc pr¢ired in sterling, which is the func¢iona] currency of the TnLsL Moneiary amounts in thcse financial
stalcments ur¢ roundLd tc) Ihc ne1 £.
Th¢ OnL% hav¢ bccn prcwrd under ihe historical cosl convcntion. modified to include the rcvdlualion of frccly)Id
propcrtic% and to in¢lude inve%tm¢ni properties and cenain financial instrumenL% at fair vajuc. Th¢ principal a¢¢ountin¥
wlicics adopied arc sci out bclow.
1on1aobh Na GJc15¢01alo¢hts meels the definilion of a public benefi¢ ¢ntity under FRS 102.
12 Goin% coD¢¢rn
At th¢ limc of approving the acwunts. the Truslee5 have a Tnable exrK¢lalion that the Trust h&$ ttdequ&ic rc%ources
¢ontinu¢ in Oper101 exislcncc for thc fore5ee.Iblc future, Thu5 the Tru%lccs conlinuc lo adopt ihc gToinb ion¢¢rn
bL%is of ac¢ouniin8 in preparing the accounts.
Due to the Trust's main source of tncome being from renthl inwm¢ and govcrnmcni fundin& it's deemed thal there is no
80in8 o)nc¢rn issiic.
IJ Incoming rewurc
In
IONTAOBHAS NA GAELSCOLAIOCHTA NOTES TO THE FIINANCIAL STATEMENTS (CON'TINUED) FOR THE YE4R ENDED 31 MARCH 2024 Aecounlin% polbries (Conlinucd) l..$ T4nxible fil Tthn&iibl¢ lixcd as5¢15' arc inilially measured ai ¢OSi und subs'equcntly me&%urcd at cost or valuJtion. nel of deweciaiion and iqny impairn)¢ni loss¢s. tkprcciation i& r¢wsni&¢d So as io write off the wst or valuation of Sets Ic55 their residual values ovcr th¢ir uscful livcs on the following b&se5: Fff¢hold land and building .w)d fittings Compulcrs /• Strnighi lin¢ Fixtures 2/fj redu¢inb balan¢c 33.30/0 reducing bJlan¢¢ No depr¢¢tation is chargd in the yw thai bjildings are acquired1constrlCd. All other asset types are depreciated in the y&ryr th¢y ar¢ a¢quircd, 1.6 Inwc4lrnenl PTOPtrties Th¢ Frcchold propcrty at 14?.144 Falls Road. Belflst. hcld on Isi April ?O?I h&% rcclassified under FRS 10? %e¢iion 16. Inv5(Men1 Propcrtic& under tsn&)ible fLx¢d &% the Trus1 id¢nlificd thal il is hcld for thc purpose of cnernling rental incom¢, 1.7 Finnci#l InstrumlI Bq.iicfinanciul a.Kiets Basi¢ finan¢ia] including rental and other dcbiorn and ¢h and bank balance% ar¢ recognised ai translldion price. Bujicfinanciul li4b¢liri BiLSiC finauKial liabiliiic& including pnyables. are r¢cogni4cd al trwL%wlion pri¢¢. thhcr liJbilili¢5 arc rccobni%ed as soon &s Ih¢r¢ is a le¥al or constrnclive obligaiion ¢ommilling the pay oul l.x Reliremeni benefits 'Thc Trus1 operdles a drfincd Contribution pension h¢m¢ for cmploycei. The &sseLS of the scherne are hcld scpardtcly fn)m Ih05e ofthe TrusL The ann71 contribulions poyablc tsrc ihar8ed thc SLiiemenl of Finan¢ial A¢iivili¢s. 1.9 Inwe4lmenl in h(Kl Buildinz Thc cost% {)f purch$ 01'5ilc% for and the wn$¢ruction of school buildings. arc capiLilised to th¢ ¢Yienl that ihey we CXPCClcd lo bc rc¢ov¢rcd on reccipi of &irJnl uid In)m thc Dcpartnieni of bAlu¥ation. In Ihc opinion of ihc TnLsl¢es. Ihc invcstmLnls in %chwl buildings (k) not fall i¥iihin ihc dcfinition of inN'L'51nient pruiknics ouilincd ii) FRS I O? Lniil lh¢ buildings havc bccn veSiLYI by the tkpJrtmcnt c¥p¢ndiiur¢ rLirnbiirs¢d. ¢0515 ure reL'ObTniscd on thc balance sh¢¢1 &s ld buildings under fixed assets. F.xpendilure not re¥ovcrcd from thc tkpartm¢ni of Eduulion when the buildings )re vested is clwged io th¢ Stalcmcnl of financi11 aaivilics in the vcur the VL'%lins occurs. A% the Trusiccs cxpcct full reTmbiirytheni from Ihe Dcpartmcni of Educaiion for oll e¥pendilurc incurred. no deprtiiaiion is provid¢d on IhL in¥'L'%lmeni in schi7 buildinbi%.
IOINTAOBHAS NA GAELSCOLAIOCHTA N()TFS TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Ae¢oun¢in% 11¢1 (Continued) 1.10 Government 2rn¢J Government granLs arc rccob?nised whcn il is rcawnablc lo cxpcrt thut ihc sranLs will rcc¢ivcd and ihai nll lated coTrdilions will be mct. usually on the submi&sion of a valid ¢lthim for puym¢nt. Gov¢rnrn¢nt granls in respeth of capitsl expcnditurc arc crediled a deferrcd incom¢ a¢¢ount and are relea1 to profit over the exp¢acd uscful lives of ihc relcvan¢ assets by C471 insthllments. In the currcnl year. deferred inlomc has been r¢lc&sed and deprrfiaiion is charged in lh¢ year of complfflion. Grnnls ora rcvcnue naiure ar¢ credited to income so ¢0 match ihem with lh¢ expvndilure which ¢h¢y relaie. lonwbhas na Gaclscolaio¢hth h.ts bccn awarded a iotal gnni of £1.$79.698 under ihe Social Investmeni Fund PrObrIM¢. £?8S,452 from An c.iste 1ntheisli0ch Gaeilg¢ and £94,48S from the Depanmenl for Communili¢s lowards ¢h¢ constru¢tion of the Arns na bhFai buildinb• 200- 20? Falls Road Belfast. Donilions Grnnts Unre¥lrirted Re5trirted fun¢t¥ fundg Totsl 2024 Tot*1 2023 IX>naiions and gills TACA Ci51¢ Inlh¢istioch Shard island fund 359 30.(KiO 359 30.(KJO 370 -$0.289 2.107.180 30.359 8.999 2.160.839 For the year ended 31 M#r¢h 2023 53.659 2.107.180 2.160.839 Charitable xctiTritie¥ 2J C.hariLiblc rcntsl iDci)mc Oihcr iniome 86.197 41.719 87.7?0 127.916 1?9.113 12
IONTAOBHAS NA GAELSCOLAIOCHTA NOTES TO THE FIINAI%CIAL STATEMENTS {cOTINuED) FOR THE YEAR ENDED 31 MARCH 2024 Inve¥trnents 2024 20Z3 Bank inicresi receivable 6.452 453 Other incom¢ 2024 2023 surp15 on ve5tin¥ 0fh{K)I 12.188 CThari¢¥blc activiliu 2024 2023 141.270 135.418 Grant funding ofaclivili¢s (K¢ no 7) 34.500 3.000 Sharc of SUprt aists noie 8> Share of governance (s¢¢ nol¢ 81 198.1x18 3.360 2¥8.894 (6.854) 377.138 420.478 An4lFxi¥ by fund Unr¢slriLled funds Rvilri¢icd funds 10.163 96.975 377.138 For the year ended 31 7r¢h 2023 UnrC%tried funds Rcslric¢ed funds ?41.162 179.116 4?0.47¥ 13
ION'TAOBHAS NA GAELSCOLAIOCHTA NOTF.S TO THE FINACIAL STATF.ME]%TSi (CONTINUED) FOR THE YE4R ENDED 31 MARCH 2024 Gr#nl% 2024 2023 Expenditure on schools 34.500 support eosL Support ¢oqL4 Governiinee 2024 2023 B**is of xllocation Depreciation Administrnlion expenscs Trnvcl und suttsi%lenc¢ Prernixs expenses Bank inlerc51 Accommodation fund expcndilure Support Costs heading 8 53.742 4.0?5 1.868 41.100 297 53.742 4,0?5 1.868 41.100 297 53.752 2253 78.948 315 87.977 87.977 145.117 Audit fees Legal and professional 3J60 1.180 G0vcn¢C (10.034) Goviman¢e 198.008 3J60 201.368 28?.040 Analy5¢d IKXwe¢n Charilable a¢livities 198.008 201.-168 28?.040 Governancc ¢ost5 includL% payments 10 the audiiors of £.3.360 (?0?3- £3.180l for uudil ftts and prepurnlion of finuncial srat¢ments. 14
KONTAOBHAS NA GAELSCOLAIOCHTA NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR TIIE YEAR ENDED 31 MARCH 2024 .Stsif nd emolumtnL4 Numbcr ofemployce¥ Av¢rngc monthly nurnbcr employccs during the year w&5: 3 (?0?3: 3). 2024 liumber 20LI umbor rull-lim¢ ¢mployc¢s EmploymeDi 2024 2023 Wab?cs and s31ari¢% Social security COSLS Other pe10 costs. 116.101 7.686 17.?83 110.568 7.587 17283 141.270 135.438 Pilib O Ruanaidh w&$ the only employee whose lary cxcttded £60.000 this y&v. No truste¢s re1Ved rrniunerJtion or exP¢nS fn)m lh¢ Trust during ihe year or previo$ ycars. 10 TxAtion The Trusi i¥ a resi%¢crcd charity und such is ¢nliiled io ¢¢rtain exempiions on incomc and profiLs from its invemments and chJritabl¢ a¢tivitics. if ih¢sL' profils are applicd for chanbIr purw)scs. Thc Tru.41 1% regi%iered with the Clhiriti¢S Cornmi%sion Northem Ir¢land (NIC 100147). Tangible fixed a%ets rrrhibld l•wd b4lldio%J Computtrj At l April ?O?J 2.685.070 17.091 7.709 9 709.1170 Ai 31 MJr¢h 20?4 ? 685.070 17.091 7.709 2.709.870 Deprffiation nd irnpairn)enl Ill l April ?O?I tkpr¢¢iJlion charged in ik y¢ 1 $2.835 S.1.701 16.888 7.709 177.43? S.1.74? Ai I l Mah ?0?4 ?06.$36 16.9?9 7.709 231.174 C#rryin2 MouTht At I l Marili ?0•4 ?.478.534 16ry ?.478.6I)6 At 31 March ?0?3 *.53? ?35 ?03 ? $3?.438 15
IONTAOBHAS NA GAELSCOLAIOCHTA Y()TEGi TO THE FIIYANCIAL STATEMEN'TS (CONTINUED) FOR THE YE4R ENDED 31 MARCH 2024 12 Ini'eslnyent property 2024 Fair vlue Ai l April 20J? and 31 Marth 20?4 13 Debtor¥ 2024 2023 Amounls (llIn2 dut wiihin one yer: Trnde debtor5 Imer debiop Prepayments ac¢rued income 19.782 18.097 1 ?.320 3.905 28.686 33.860 14 Credilory: amoynLi fllin% dut Ylitbin one yexr 2024 2023 Not Lkferred iKome TrJdc ¢r¢diiors Othcr crcditi)r% Arya1$ and d¢f¢rr¢d in14)m¢ 208.314 39.193 9?.8.14 14.769 7.660 8.587 230.743 141.614 Deferr ineome 2024 2023 D¢f¢nd incorne 1.971.984 1.%4?.056 tkferrcd iDCOrn¢ is in¢lud¢d in ik finAn¢iAI Sl¢M¢t5 &s follows: 2024 2023 CurTeni liJbilili¢s NonUrrent liabilitie5 ?08.314 1.763.670 39.19.3 1.80? 863 Toidl deferred income 1.971.984 .84?.0$6 tkfcrrcd income rcprc¥cnLs govcrnmcnl grant% rcLciwcd lowJrd% C4)itdl projccis. The dcfcnrd income will b¢ r¢Ised th¢ slement of l inancial Acliviiies in line wilh the deprecialion Trle5 applied io ihe relevant properties. In the iurr¢ni y¢ar. d¢fcrr¢d in¢om¢ for ihe building h&s been rele&d in line with d¢prLYi.liiiin charged. 16-
IONTAOBHAS NA GAELSCOLAIOCHTA 'OTES TO THE FINANCIAL STATEMENTS (CONTIUED) FOR THE YEAR ENDED 31 fvL4RCH 2024 16 Unrosiri¢ied fund5 Movernent in fund Billnce At I Ineomin2 April 2023 Tesoure( B41gn¢e 9¢ 31 March 2024 expended Irusi fund .518.?96 164.727 (280,163) 1.40.860 .518.?96 164.727 (280.163) 1.40?,860 The DENI fund rcprcscnts pro¢ccd% rtteivcd from the fJeportTnenl of FAlucation for thc vesting of sch(x)18. Thi5 moncy Can b¢ by the Trusi w pursuc lis objectives and 15 not a reslrictrd fund. It h&s ihcrcfore bccn held wsihin the Trus¢ fund. 17 RL¥lricied funds The incom¢ funds of the Trusl tn¢lud¢ r¢slria¢d funds comprising th¢ following uncxpcndcd balances of donal10% and grants held on tru for specific purp)s¢&: Balance ¥t I Incoming April 20LI Rv40ur¢ expended Blftce ai 31 1#rch 2024 Mckicrnan fund DF.Nl . AMmodation fund Shared Island fund 30,699 ?.078,337 30.699 1.990..161 187.976) (8.9W) ¥.W9 l (W.0.16 8.W9 (96.975) ?011.060 Aecommod#lion fund Th¢ Ac¢ommodation fund is d fund which awarded by ¢he Ikpartm¢ni of Edu¢dlion in ?010 kn cnable lon1bhI1% na Gaclsco141io¥hLi lo pn)vid¢ Js5ist4mCC for the a¢comnl(KlItsn and building c0515 across thc dcvclopinb Irish Medium S.1r, Th¢ balan¢¢ ai 31s1 March rcprcscnt& thc unspcni balance of lh¢ &¢¢omm(xl4tion fund. lThe expcndilure is review by ihc Dcpartmenl and on approval will bc rcpaid lo lOnbS na G)elscolaioch141 to allow li io r¢invest in oih¢r Simil projclts. Illtimal¢l)' the fund or any part noi snI is rcpayablc lo thc Dcpartmenl. In th¢ y¢%V. no llmounL% wcrc T¢1¥ in rel0 ¢0 th¢ A¢¢(xnrnod4ilion fund. IcKiernxn fund Thc IALKi¢rnan fund w&s %cl up io provide bUrsrIeS lo lornicr Cffjiais* Feirste pupils. 10 &5S1 Coldisle Feirslr pupils to go to the CJaelth¢hi and lo SUP7 Irish mcdium playbvroup%. 17-
IONTAOBHAS NA GAELSCOLAIOCHTA NOTES TO THE FIl%AcIAL STATF.MFNTS (CONTINUFD) FOR THE YEAR ENDED 31 MARCH 2024 17 Re%tricted funds (Continued Shared lsl*nd fund This srnni was awarded this y¢Jr for a of £4.$0.01)O aid wilh lh¢ ¢onstruclion ld incepiion of Swil na Scolta. £178.1?O w&$ received in thc yur. £8.99) w&s 5pcni in ?31?4 and (he rcmainins unspent baJan¢c of th¢ Eyanl w&$ uwardcd 10 be STrt in 20?41?5 and iherefore was defcTr¢d into 20?4125.