Charity number: NIC 100168 Company number: N1030366 Gas Yard Wall Feile Llmlted (A Company Ilmlted by guarantee) Directors, report and financlal statements for the year endod 31 March 2023
Gas Yard Wall FeiIe Limited (A Company limited by guarantee) Contents Page Legal and administrative information Directors Report Independent Examiner's Report Statement of Finaiicial Activities Balance slieet Notes to the accounts 8-13
Gas Yard Wall Feile Limited (A company limited by guarantee) Legal and Administrative Information Charlty Name Gas Yard Wall Feile Limited Charity Number NIC100168 Company Registration Number N1030366 Registered Offi¢¢ The Old Clinic Fanad Drive Derry BT48 9QE Dlrectors Sean Collins Donna Mccloskey George McGowan Secrctary Sean Mcmonagle Accountants McGroaty Mccafferty & Company Ltd Accountants and Tax Consultants 2 Carlisle Terrace Derry, BT48 6JX Bankers Bank of Ireland 27 Culmore Road Derry BT48 8JB Page I
Gas Yard Wall Feile Limited (A company limited by guarantee) Director's Report Tlie directors present their report and the financial statements for tlie year ended 31 March 2023. Principal Activity The Gasyard Wall Feile is a year round ¢ultural programme based in th¢ Bogside IBrandywell areas but with activities and events taking place throughout the Triax Renewal area and the wider Derry City Council area. Directors and their interests The directors of the charity for the purposes of charity law and throughout this report are collectively referred to as the directors. The directors serving during the year and since the year end were as follows: Sean Collins Doniia Mccloskey George McGowan Structure• governance and management The organisation is a company witli charitable status. The entity was formed on 4th March 1996. The company was established under Memorandum & Articles of Association which outlined the area of benefit and the objects of the cliaritable organisation. All meinbers of Board give tlieir time voluntarily and received no benefits from tlie charity. The board of directors meets as required and is responsible for policy, strategic direction and overall governance. Rlsk Management The directors have a risk management strategy which consists of establishing a system of identifying risks and mitigating such risks. Flnancial review Thc financial perforniance is summarised on pages 5 to 13. Directors Rosponslbllities In Relation To The Financial Statements The directors are responsible for preparing the directors report and the financial statements in accordance witli applicable law and regulations. Company law requires the directors to prepare financial statements for each financial year that give a true and fair view of the state of the atyairs of the charity at the end of the financial year and of its surplus or deficit for the financial year. In doing so the directors are required to: select suitable accounting poli¢ies and apply them consistently; observe the methods and principles in the Charities SORP (FRS 102); make Judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. Page 2
Gas Yard Wall Feile Limited (A company limited by guarantee) Directors Report .continued prepare th¢ finaiicial stalements on the going concern basis unless it is inappropriate to presume that the cliarity will continue in business. Tl)e directors are responsible for Inaintaining proper accounting records which disclose with reasonable ac¢uracy at any time the financial position of the charity and enables them to ensure that the financial stateineiits Comply with the Companies Act 2006. The directors are also responsible for safeguarding the assets of tlie charity and hence for taking reasonable steps for the prevention and detection of fraud and other irrcgularities. This report is prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies. This report was approved and authorised for issue by tlie Board on l December 2023 and signed on its behalf by Dlrector Director Page 3
Gas Yard Wall Feile Limited (A company limited by guarantee) Independent examiner's report on the unaudited financial statements to the directors of Gas Yard Wall Feile Limited We report on the accounts of the company for the year ended 31 March 2023, which are set out on pages 5-13. Respective responslbllities of charity directors and examiner. As the charity directors you are responsible for the preparation of the accounts in accordance with the requirements of the Companie5 Act 2006, Having satisfied ourselves that the charity is not subject to audit under coinpany law, and is eligible for independent examination, it is our responsibility to; examine the accounts under section 65 of the Charities Act 2008; follow tlie procedures laid down in the general directions given by the Charity Commission for Northern Ireland under scction 65(9)(b) of the Charities Act 2008. state whether particular matters have come to our attention. Basis of Independent examiner's report We liave examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general directions given by tlle Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented witli those records. It also included a consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity directors conceming any such matters. Our role is to state wliether any material matters have come to our attention giving us cause to beli¢ve: tliat accounting records were Iiot kept in accordance with section 386 of the Companies Act 2006. tliat the accounts do not accord with those accounting records; that tlie accounts do not comply with the accounting requirements of th¢ Section 396 of the Companies Act 2006 and tlie methods and principles of the Charities Statement of Recommended Practice applicable to harities preparing their accounts in accordanG¢ with the Financial Reporting Standard applicable in the UK and Republic of Ireland; that there is further infonnation needed for proper understanding. Independent examincr's statement We have completed our examination and have no ¢oncems in respect of the matters listed above and, in connection with the following directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Mccroarty, affe Accountants & Tax Consultants 2 Carlisle Terrace Dcrry BT48 6JX pany Date: l December 2023 Page 4
Gas Yard Wall Feile Limited (A company limited by guarantee) Statement of Financial Activities for the year end¢d 31 March 2023 Year Ended 2023 Year Ended 2022 Unre3trieted Funds Restrlcted Funds Income and Ei xpenditure Notes Incoming Resources Voliinlaiy Inconie.. Grants & Sundry Income 18,407 340,971 359,378 369,126 Total Incoming Resources 18,407 340,971 359,378 369,126 Resources Exponded Management & Administration 2,492 344,454 346,946 342,569 Total Resources Expended 2,492 344,454 346.946 342,569 Net Incomlng l (Outgoing) Resources 15,915 (3,483) 12,432 26,557 Balances brought forward l April 2022 31,316 22,247 53,563 27,006 Balances carried forward 31 Marcli 2023 47,231 18,764 65,995 53,563 The above ainounts relate to continuing operations of the charity. The charity has no recognised gains and losses other than those included in the results above and therefore no seperate statement of total recognised gains and losses has been presented.There is no differenc¢ between the net incoming resources for the year Stated above and tlieir historical Gost equivalents. Page 5
Gas Yard Wall Feile Limited (A company limited by guarantee) Balance she¢t as at 31 March 2023 2023 2022 Notes Fixed assets Tangible assets 13,757 20,215 Current asscts Debtors Cash at bank and in liand 77,804 12,651 80,654 4,614 90,455 85,268 Current liabilities Bank loans and overdrafts Otlier creditors Accruals 8,627 16,142 27,151 26,451 11,766 38,217 51,920 Net current assets 52,238 33,348 Tot#1 ussets less current liabilities 65,995 53,563 Funds Unrestricted funds Restricted funds 47,231 18,764 31,316 22,247 Total funds 65,995 53,563 Page 6
Gas Yard Wall Feile Limited (A company limited by guarantee) Balance sheet (continued) Dlrectors, statemonts required by Sections 475(2) and (3) for the year ended 31 March 2023 In approving these financial statements as directors of the company we hereby confirm: Tlie company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small ompanies. The members liave not required tlie company to obtain an audit in accordance witli section 476 of the Compaiiies Act 2006. Tlie directors acknowledge their responsibilities for complying With the requirements of the Companies Act 2006 witli respect to accounting records and preparation of accounts. These accounts have been prepared in accordance with th¢ provisions applicablc to small companies subject to the small companies regime and in accordance with SORP (FRS102). The financial statements were approved and authorised for issue by the Board on l December 2023 and signed 011 its behalf by Director Director Date: l Decembor 2023 Date: l December 2023 Registratlon No: N1030366 Page 7
Gas Yard Wall Feile Limited Notes to the accounts for the year ended 31 March 2023 General information The company is a private company limited by guarantee, registered in Northern Ireland. The addres5 of the registered office is The Old Clinic, Fanad Drive, Derry, Northern Ireland, BT48 9QE. Accountlng convention The principal accounting policies adopted in the preparation of the financial statements are set out below aiid have remained unchanged from the previous year, and also have been consistently applied witliin the sain¢ accounts. Tlie financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recominended Practice applicable to charities preparing tlieir accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Cliarities SORP (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Companies Act 2006 and th¢ Charities Act (NI) 2008. Tlie financial statements are prepared on a going concern basis under the historical cost convention, modified to included certain items at fair value. The financial statements arc presented in sterling whicli is the functional currency of the charity, Fund accounting Unrestricted funds are available for use at ihe discretion of the directors in furtherance of the general objectives of the cliarity. Designated funds are unrestict¢d funds eamiarked by the management committee for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or through the terms of appeal. 1.3. Incoming resources All incoining resources are included in the statement of financial activities when the charity is entitled to the income and tlie amount can be quantified with reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary income is received by way of grants, donations aiid gifts and is included in full in the statement of financial activities when receivable. Grants wliere entitlement is not conditional on the delivery of a specific performance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the charity where this can be quantified. The value of services provided by volunteers lias not been included. Gifts donated for resale are included as incoming resources within activities for generating funds when tliey are sold. 1.4. Resources expended Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Page 8
Gas Yard Wall Feile Limited Notes to the accounts for the year cnded 31 March 2023 1.5. Tangible re assets and dopreciation Tangible fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less residual value of each asset over its expected useful life, as follows: Fixtures & Fittiings 200/0 Straiglit Line Income 2023 2022 Restricted Income Department of Foreign Affairs The Honourable Irish Society The National Lottery Fund Capital Grants Department for Communities TEO - Streets Alive TEO - Communities in Transition Derry City & Strabane District Council 19,725 2,000 14,925 2,950 679 28,362 167,004 103,512 16,195 61,728 93.891 144,975 18,652 340.971 333.627 Unrestrlcted Income Donations & Project Incom¢ 18,407 35,499 18,407 35,499 Total Income 359,378 369,126 (i) Rcstrieted Funds Funds received which are earniarked by the Funder for specific purposes. Such purposes are within the overall aims of tlie organisation. (li) Unrestrlcted Funds runds wliicli are expeiidable at the discretion of the company in furtherance of the aims of the charity. In addition funds may be held in order to finance capital investinent and working apital. Page 9
Gas Yard Wall Feile Limited Notes to the accounts for the year endcd 31 March 2023 Resources ExpeDd¢d Unrestrictcd Funds Restricted Funds Total 2023 Total 2022 Monagement & Admlnlstration Staff costs Hire of sites, equipment & venues Insurance Events/ Prograinine Costs Prograin Costs - Lottery fund Programme printing & marketing costs Teleplione H05Pitality & travelling Consultancy fees Sundry expeiises Donations Accountancy fees Bank Charges Depreciation 151,828 2,352 1,863 177,388 151,828 2,352 1,863 177,388 124,183 1,370 1,116 201,187 1,577 1,075 690 1,021 2,462 2,062 821 1,682 2,062 821 1,682 35 1.000 1,164 293 35 1,000 1.164 293 6,458 1,062 367 6,458 6,458 2,492 344.454 346.946 342,569 Net (outgolng)lincoming resourees for the Year Year Ended 2023 Year Ended 2022 Net (outgoing)/incoming resources is stated after cliarging; Depreciation and other amounts written off tangible fixed assets 6,458 6,458 Page 10
Gas Yard Wall Feile Limited Notes to the accounts for the year ended 31 March 2023 Staff costs Employment costs 2023 2022 Wages and salaries Pension Costs 145,469 6,359 118,851 5,332 151,828 124,183 No einployee received emoluments of more than £60,000 (2022: None) Tlie average monthly numbers of employees during the , calculated on the b&sis of full time equivalents, was as follows: 2023 Number 2022 Number Average nuniber of employees Taxatlon As a charity, Gas Yard Wall Feile Ltd is exempt from on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that thcse arc applied to its chargeable objects. Accordingly? no charges have arisen in the charity. Page 11
Gas Yard Wall Feile Limited Notes to the accounts for the year ended 31 March 2023 Tangible fixed assets Equlpment Total Cost At l April 2022 32,291 32,291 At 31 March 2023 32,291 32,291 Depreclation At l April 2022 Chargc for the year At 31 March 2023 12,076 6,458 12,076 6,458 18,534 18,534 Net book value At 31 March 2023 13,757 13,757 At 31 March 2022 20.215 20,215 Debtors 2023 2022 Graiit Income due 77,804 80,654 Creditors: amounts falllng due wlthln ono year 2023 2022 Otlier creditors Bank loans and overdraft Accruals & deferred income 19,601 9,292 8,627 34,001 18,616 38,217 51,920 Page 12
Gas Yard Wall Feile Limited Notes to the accounts for the year ended 31 March 2023 Movemonts in Funds At At l Aprll Incomlng Outgolng 31 March 2022 resources resources 2023 Restricted funds: Total restricted funds Unrestrlcted funds: Total unrestricted funds 22,247 340,971 (344,454) 18,764 31,316 18,407 (2,492) 47,231 Total funds 53,563 359,378 (346,946) 65,995 Purposes of Restrlcted Funds Restricted grants awarded to the charity is provided to cover the core objects as explained in directors report. 10. RelAted Party Transaetions There were no related party transactions in period under review. 11. Llmited by Guarantee Gas Yard Wall Feile Limited is a company limited by guarantee and accordingly does not liav¢ a share capital. 12. Controlllng Intorost Ultimate control of the charitable company lies with the directors. Page 13