Charity number: NIC 100168 Company number: N1030366 Gas Yard Wall Felle Llmlted (A ¢omp#ny limited by guarantee) Directors, report and financlal statements for the year endod 31 March 2024
Gas Yard Wall Feile Limited (A company limited by guarantee) Contents Page Legal and administrative information Directors Report Independent Examine$ Report Statement of Financial Activities Balance sheet Notes to the accounts 8-13
Gas Yard Wall Feile Limited (A company limited by guarantee) Legal and Administrative Information Charity Name Gas Yard Wall Feile Limited Charlty Number NIC100168 Company Registration Number N1030366 Reglsterod Office The Old Clinic Fanad Drive Derry BT48 9QE Dlrectors Sean Collins Donna Mccloskey George McGowan Sharon Meenan Ciaran O'Donnell Williain Charles O'Donnell (Appointed 01.01.24) (Appointed 01.01.24) (Appointed 01.01.24 Resigned 01.04.2024) Secretary Sean Mcmonagle (Resigned 08.01.24) Accountants McGroaty Mccaffety & Company Ltd Accountants and 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 'Th¢ directors pres¢nt th¢ir report and the financial statements for the year ended 31 March 2024. Principal Activity The Gasyard Wall Féll¢ is a year round cultural programm¢ based in the Bogside IBrand)wcll areas but with activities and ¢v¢nts taking place throughout the Triax Renewal area and the wider Derry City & Strabane District Council area. Directors and their interests The directors of tlie charity for the purposes of charity law and throughout this report are collectively referred to as tlie directors. The directors serving during the year and since tli¢ year end were as follows: Sean Collins Sharon Meenan Doniia Mccloskey Ciaran O'Donnell George McGowan William Charles O'Donnell (Appointed 01.01.24) (Appointed 01.01.24) (Appointed 01.01.24 Resigned 01.04.24) Structure, governAnce And mAnagement The organisation is a company witli charitable status. The entity was fonned on 4th March 1996. The company was established under Memorandum & Articles of Association which outlined the area of benefit and the objects of the ¢liaritable organisation. All members of Board give their time voluntarily and received no benefits from the charity. The board of dir¢otors mects as required and is responsibl¢ for policy, strategic direction and overall govemance. Risk Mydnagemcnt Tlie directors have a risk management strategy which consists of establishing a system of identifying risks and mitigating such risks. Financial review The financial perforniance is summarised on pages 5 to 13. Directors Responsibilities In RelatioD To The Flnanclal Statements The directors are responsibl¢ for preparing the directors report and the financial statements in accordance willi 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 tlie affairs 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 policies and apply them consistently. observe tlie metliods and principles in the Charities SORP (FRS 102). make judgeiiienls aiid estiniates that are reasonable and prudent" state ivhether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; Page 2
Gas Yard WaIl FeiIe Limited (A company limited by guarantee) Directors Report .continued prepare tlie financial slatements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. Tlie directors are responsible for maintaining proper accounting records which disclose with reasonable accuracy at aiiy time the fiiiancial position of the charity and enables them to ensure tliat the financial stateixents comply with tlie Coinpaiiies Act 2006. The directors are also responsible for safeguarding the assets of the charity and Iience for taking reasonable steps for tlie prevention and detection of fraud and other irregularities. Tliis report is prepared iii accordance with tlie special provisions of part 15 of the Companies Act 2006 relating to small companies. Tliis report was approved and authorised for issue by the Board on 3 October 2024 and signed on its behalf Director Dfirector Page 3
Gas Yard Wall Feile Limited (A company limited by guarantee) Independent examiner's report on tbe 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 2024, which are set out on pages 5-13. Respectlve responslbllltlos of charlty direetors and examlner. As tlie charity director5 you are responsible for tlie preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent examination, it is our responsibility to; ¢xamine th¢ accounts under section 65 of the Cliarities Act 2008; follow tlie procedures laid down in the general directions given by the Charity Commission for Nortliem Ireland under section 65(9)(b) of the Charities Act 2008. state whether particular matters have come to our attention. Basis of independent examiner's report We have examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with tlie general directions given by the Charity Commission for Northem 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 with those records. It also included a consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity directors concerning any such matters, Our role is to state wh¢ther any material matt¢rs have come to our attention giving u5 cause to believe: that accounting records were not kept in accordance with section 386 of the Companies Act 2006; tliat the accouiits do not accord with those accounting records; that the accounts do not comply with the accounting requirements of the Section 396 of the Companies Act 2006 and the metliods and principles of the Cliaritles Statement of Recommended Practice applicable to cliarities preparing tlieir accounts in accordance with the Financial Reporting Standard applicable in tlie UK and Republic ofireland. that tliere is further information needed for proper understanding. Indop¢ndent examiner's statement We have completed our examination and have no concerns in respect of the matters listed abov¢ and, in connection with the following directions of the Charity Commission for Northern Jreland, we have found no matters that require drawing to your attention. McGroarty, Mccafferty & Company Ltd Accountants & Tax Consultants 2 Carlisle Terrace Derry BT48 6JX Date: 3 October 2024 Page 4
Gas Yard Wall Feile Limited (A company limited by guarantee) Statement of Financial Activities ror the year ended 31 March 2024 Year Ended 2024 Year Ended 2023 Unrestricted Funds Restricted Funds Income and Exponditure Notes IDcomlng Resources Volunlary Inconie., Grants & Sundry Income 20,284 479,576 499,860 359,378 Total Incomlng Resources 20,284 479,576 499,860 359,378 Resources Expended Management & Administration 1,490 485,050 486,540 346,946 Total Resources Expended 1,490 485,050 486,540 346,946 Net Incomlng l (Outgoing) Resources 18,794 (5,474) 13,320 12,432 Balances brought forward l April 2023 47,231 18,764 65,995 53,563 Balances carried forward 31 March 2024 66,025 13,290 79,315 65,995 The above amounts relate to continuing operations of the charity. The charity lias no recognised gains and losses other than tliose included in the results above and therefore no seperate statement of total recognised gains and losses has been pre5ented.There is no difference between the net incoming resources for the year stated above and their historical cost equivalents. Page 5
Gas Yard Wall Feile Limited (A company Ilmited by guarantee) Balance sheet 2s at 31 March 2024 2024 2023 Notes Fixed assets Tangible assets 7,299 13,757 Curront assets Debtors Casli at baiik and in hand 206,862 5,894 77,804 12,651 212,756 90,455 Current liabilitics Bank loans and overdrafts Other creditors Aecruals 9.248 40,798 90,694 26,451 11.766 140,740 38,217 Net current assets 72,016 52,238 Total assets le$$ Current liabilities 79,315 65,995 Funds Unrestrictcd funds Restricted funds 66,025 13,290 47,231 18,764 Total funds 79,315 65,995
Gas Yard Wall Feile Limited (A company limited by guarantee) Balance sheet (continued) DirectorJ' statemonts required by Sections 475(2) and (3) for the year ended 31 Mareh 2024 In approving these financial statements as directors of the company we hereby confim]: The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. The members liave not required the company to obtain an audit in accordance with section 476 of tlie Companies Act 2006. The directors acknowledge tlieir responsibilities for coinplying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of accounts. Tli¢se accounts have been prepared in accordance with the provisions applicable to small companies subject to the sinall companies regime and in accordance with SORP (FRSI 02). The financial statements were approved and authorised for issue by the Board on 3 October 2024 and signed on its behalf by Director Dlrector DAto: 3 Octobcr 2024 Date: 3 Oetober 2024 Registration No: N1030366 Page 7
Gas Yard Wall Feile Limited Notes to the accounts for the year ended 31 March 2024 General information Th¢ company is a private coinpany limited by guarantee. registered in Northern Ireland. The address 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 and have rcmained unclianged from tlie previous year, and also have been consist¢ntly applied within the same accounts. Tli¢ financial statements have been prepared in accordance with Accounting and Reporting by Cliaritie5.' Statement of Recommended Practice applicable to ¢liarities preparing their 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 the Chariti¢s A¢t (Nl) 2008. The financial statements are prepared on a going concern basis under the historical cost convention, Inodified to included certain items at fair value. The financial statemenls are presented in slerling vliicli is the functional currency of the cliarity. 1.2. Fund accountfing Unrestricted funds ar¢ availabl¢ for use at the discretion of the directors in furtherance of the general objectives of the charity. Designated funds are unrestiGt¢d funds earmarked by the management committee for particular purposes. Restricted funds are subjected to restrictions on their expenditure imposed by the donor or tlirougli tlie terjns of appeal. 1.3. In¢oming resources All incoining resources are included in Ilie statement of financial activities when the charity is entitled to tlie income and the amount can be quantified witli reasonable accuracy. The following specific policies are applied to particular categories of income: Voluntary incoine is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where 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 has not been included. Gifts donated for resale are included as incoming resources within activities for generating funds when tli¢y are sold. 1.4. Resources expendcd 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 whicli it relates. Cliaritable 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 ended 31 March 2024 1.5. Tangible fixed assets and depreciation Tangibl¢ fixed assets are stated at cost less accumulated depreciation. Depreciation is provided at rates calculated to writ¢ off th¢ cost or valuation less residual value of each asset over its expected useful life, as follows: Fixtures & Fittiings 20% Straight Line Income 2024 2023 Restrlcted Incomo Department of foreign Affairs The Honourable Trish Society Department for Communities TEO - Streets Alive TEO - Communilies in Transition Derry City & Straban¢ District Council 20,037 19,725 2,000 61,728 93,891 144,975 18,652 43,899 254,396 154,294 6,950 479,576 340,971 Unrestricted Income Doiiations & Project Income 20,284 18,407 20,284 18,407 Total Income 499,860 359,378 (i) Rostri¢ted Funds Funds received which are earniarked by the Funder for specific purposes. Such purposes are witliin Ilie overall aiins of the organisation. (ii) Unrestrlcted Funds Funds which are expendable 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 investment and working capital. Page 9
Gas Yard Wall Feile Limited Notes to the accounts for the year ended 31 Illarch 2024 Resources Expended Unrestricted Funds Restrlcted Funds Total 2024 Total 2023 Managcment & Administration Staff costs Hire of sites, equipment & venues Insurance Events/ Programine Costs Prograinine printing & marketing costs Teleplione Hospitality & travelling Sundry expenses Donations Accountancy fees Bank Charges Depreciation 147,263 3,001 1,464 325,346 697 821 147,263 3,001 1,464 325,346 697 821 151,828 2,352 1,863 179,070 2,062 821 34 34 36 1,000 1,164 293 6,458 346 346 6,458 6,458 1,490 485,050 486,540 346,946 Nct (outgoing)lincoming resourccs for the Year Year Endod 2024 Year Ended 2023 Net (outgoing)/incoming resources is stated after charging: Depreciation aiid otlier 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 2024 Staff costs Employment costs 2024 2023 Wages and salaries Pension Costs 139,048 8,215 145,469 6,359 147,263 151,828 No employee received emoluments of more than £60.000 (2023: None) The average monthly nuinbers of employees during the , calculated on the basis of full time equivalents, was as follows: 2024 Number 2023 Number Average nuinber of employees Taxatlon As a cliarily, Gas Yard Wall Feile Ltd is exempt from ttLX on income and gains falling within section 505 of the T&xes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to tlie extent that thcsc are applied to Tts chargeable objects. Accordingly? no tax charges have arisen in the charity. Page 11
Gas Yard Wall Feile Limited Notes to the accounts for the year ended 31 March 2024 Tangible fixed assets Equipment Total Cost At l April 2023 At 31 March 2024 32,291 32,291 32,291 32,291 Dcpreclatlon At l April 2023 Charge for the year At 31 Marcli 2024 18,534 6,458 18,534 6,458 24,992 24,992 Net book value At 31 March 2024 7,299 7,299 At 31 March 2023 13,757 13,757 Debtors 2024 2023 Grant Incom¢ due 206,862 77,804 Credltors: amounts falling due within one year 2024 2023 Other Creditors Bank loans and overdraft Accruals & deferred income 19,130 9,248 112,362 19,601 18,616 140,740 38,217 Page 12
Gas Yard Wall Feile Limited Notes to the accounts for the year ended 31 March 2024 Movoments in Funds At At l Aprll Incoming Outgoing 31 Mgrch 2023 resources resources 2024 Rostrictod funds: Total restrictcd funds Unrestricted funds: Total unrestricted funds 18,764 479,576 (485,050) 13,290 47,231 20,284 (1,490) 66,025 Total funds 65,995 499,860 (486,540) 79,315 Purposes of Restricted Funds Restricted grants awarded to the charity is provided to cover the core objects as explained in directors report. 10. RelAted Party Transactions There were no related party transactions in period under review. 11. Llmlted by Guarantee Gas Yard Wall Feile Limited is a company limited by guarantee and accordingly does not have a share capilal. 12. Controlling Interest Ultimate control of the charitable company lies with the directors. Page 13