COMPANY REGISTRATION NUMBER: N1047957
CHARITY REGISTRATION NUMBER: 100269
Aras Cholmcille Trust
Company LimAted by Guarantee
Unaudited Financial Statements
30 September 2018
CLAREMOUNT
Chartered accountant
43 Clarendon Street
Dery
BT48 7ER

Aras Cholmcille Trust
Company Limited by Guarantee
Financial Statements
Year ended 30 September 2018
Page
Trustees. annual report (incorporating the director's report)
Independent examiner's reporl to the trustees
Statement of financial activities (including income and
expenditure account)
Statement of financial position
Notes to the financial statements

Aras Cholmcille Trust
Company Limited by Guarantee
Trustees, Annual Report (Incorporatlng the Directorfs Report)
Year ended 30 September 2018
The trustees, who are also the directors for the purposes of company law, present their report and the
unaudited financial statements of the charity for the year ended 30 September 2018.
Reference and administrative dotails
Reglstered charity name
Aras Cholmcille Trust
Charlty registration number
100269
Company registration number
N1047957
Principal office and registered
43 Clarendon Street
Derry
BT48 7ER
The trustees
Rev Daviij Lalimer
Mr Ivor Doherty
Mr Giovanni Doran
Independent Examiner
Mr Gery He8ney
Claremounl
Chartered accountants
43 Clarendon Street
Derry
BT48 7ER

Aras Cholmcille Trust
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) {contlnu&dJ
Year ended 30 September 2018
Structure, governance and management
The company is limited by guarantee and does not have any share capital. The company is governed
and managed by the board of directors. The directors who served the company throughout the period
are shown on page 1. The registered office and details of other professional advisors are also listed on
page 1.
The board of directors carry out their governance role throughout the year by way of meetings on
rnonlhly basis lo review the performance of the company and lo make decisions regarding the
company's financial and operational matters. The directors govern the activities of the wmpany in line
with the objectives sel out in the governing documents of the charity, namely the Memorandum and
Articles of Association and the charitls constitution.
Objgctives and activities
Aras Cholmcille Trust through the resloralion of the Wee Nuns listed building houses a visitor and
education cenlre, focusing on the shared history and heritage of Cholmcillelcolumba, considered as the
"founding father" of Derry-Londonderry. The centre is open for visitors and runs a number of heritsge
related events for children frorn schools throughout the area, local visitors and visitors from further afield.
The organisation also offers the centre's facilities lo benefit the local community including cross
community by giving them use of the available space in the building.
Achievements and performancè
The cenlre, which openeé In June 2014, has attracted visitors who have been able lo view video material
recreating the city as il was before the walls were erected. There is also a facsimile Book of Kells and
range of other illuminated manuscripts dating from the 14th century. Large-scale illustrated books for
children based on the legends about Columba have also been created along with audio recordings of
the legends by local people in both Irish and English.
The centre's education programme is available to all schools and among the young people who have
benefited from this resource are students who visited to research an element of their curriculum, Celtic
Christianity and a range of Primary schools who have participated in workshops related lo the legacy of
Columba. Visitors lo the city have enjoyed their informative visits lo the Centre and have left their
positive and supportive comments in our Visitors, Book.
Flnanclal revlew
The nel incoming resources for the year was £28,401. The company reserves 21 the year end were
1£38,3541 of which £32,599 is unreslricled funds and {£70.953} is restricted funds. The trustees aim to
have a reserve covering al least three months expenditure al any given lime.
The full results are set out in the accounts which form part of this report.
Plans for future periods
The organisation plans continuing the activities outlined above in the forthcoming years subject to
satisfactory generation of income and funding arrangements. In the coming year full use will be made
of the exhibitions initiated first by the council, such as the Showbands Story.

Aras Cholmcille Trust
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Directorfs Report) (continued)
Year ended 30 September 2018
Small company provlslons
This report has been prepared in accordance with the provisions applicable lo companies entitled to the
small companies exemption.
The Iruslees. annual report was approved on 08 March 2019 and signed on behalf of the board of
trustees by..
Mr l Doherty
Trust90
Mr G Doran
Trustee

Aras Cholmcille Trust
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Aras Cholmcille Trust
Year ended 30 September 2018
I report on the financial statements for the year ended 30 September 2018, which comprise the
statement of financi81 activities (including income ane expenditure account), statement of financial
position and the related notes.
Respectlve responsibilities of trustees and examiner
The chafily's trustees (who are also the directors of the company for the purposes of company law) are
responsible for the preparation of the accounts in accordance with the requirements of the Companies
Act 2006. Having satisfied myself that the charity is not subject lo audit under company law, and is
eligible for independent examination, it is my responsibility lo..
examine the accounts under section 65 of the Charities Act.,
lo follow the procedures laid down in the general Directions given by the Charity Commission for
Northern Ireland under section 65(9}Ib) of the Charities Act.. and
to stale whether particular matters have come to my attention.
Basis of independent gxaminor's report
I have examined your charity accounts as required under section 65 of the Charities Act and my
examination was carried out in accordance with the general Directions given by the Charity Commission
for Northern Ireland under section 65191{bl 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.11 also included consideration of any unusual iterns or disclosures in the accounts, and seeking
explanations from the trustees concerning any such matters.
My role is to slate whether any material matters have come to my allenlion giving me cause lo believe..
That accounting records were not kept in accordance with section 386 of the Companies Act
2006
That the accounts do not accord with those accounting records
That the accounts do not comply with the aGGounling requirements of section 396 of the
Companies Act 2006 and with the methods and principles of the Charities Slalement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland.
That there is further information needed for a proper understanding of the accounts lo be
reached.

Aras Cholmcille Trust
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of Aras Cholmcille Trust
(Continued)
Year ended 30 September 2018
Independent examiner's statement
I have completed my examination and have no concerns in respect of the matters {1110 {4} listed above
and, in connection with following the Directions of the Charity Commission for Northern Ireland. I have
found no n)atters that require drawing lo your attention.
Mr Gerry Heaney
Chartergd accountant
43 Clar6ndon Street
Derry
BT48 7ER
08 March 2019

Aras Cholmcille Trust
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
30 September 2018
2018
Restricted
funds Total funds Total funds
2017
Unreslricled
funds
Note
Incom8 and andowments
Donations and legacies
Charitable activities
4,321
69.022
73,343
67,988
1.231
Total income
4,321
69,022
73,343
69,219
Expenditure
Expenditure on charitable activities
Total expenditure
44,942
44,942
58,324
44,942
44,942
58,324
Net Ineome and net movement in funds
4,321
24,080
28.401
10,895
R9¢0nciliation of funds
Total funds brought forward
Total funds carried forward
28,278
195,0331
170,9531
166,755)
138,3541
(77,6501
166,7551
32,599
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The not85 on pages 8 10 16 form part of these flnanclal statom8nts.

Aras Cholmcille Trust
Company Limited by Guarantee
Statement of Financial Position
30 September 2018
2018
2017
Fixed assets
Tangible fixed assets
12
1,512,996
1,545,887
Current assets
Debtors
Cash al bank and in hand
21,904
495
21,944
499
Credltors: amounts falling due within one year
Nat current liabilities
14
55,417
62,268
33,473
61,769
Total assets less current liabilities
1,479.523
1,484,118
Creditors: amounts falling due after more than one yoar
Net Ilabllltles
15
1,517.877
1,550,873
138,354)
{66,7551
Funds of the charity
Reslricled funds
Unrestricted funds
{70,9531
32,599
195,0331
28,278
Total charity funds
18
138,354)
(66,7551
For the year ending 30 September 2018 the charity was enlilled to exemption from audit under section
477 of the Companies Act 2006 relating lo sm811 companie5.
Trustees, responsibilities-.
The members have not required the charity lo obtain an audit of ils financial slalemenls for the
year in question in accordance wth section 476.,
The Iruslees acknowledge their Tesponsibililies for complying with the requirements of the Act with
respect lo accounting records and the preparation of financial slalements.
These financial statements have been prepared in accordance with the provisions applicable lo
companies subject to the small companies, regime.
These financial statements were approved by the board of Iruslees and authorised for issue on 08 March
2019, and are signed on behalf of the board by..
Mr l Doherty
Trustee
Mr G Doran
Trustee
The rtotÈs on pages 8 to 16 form part of these flnanclal stat•m•nts.

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 30 September 2018
General infomiation
The charity is a private company limited by guarantee. registered in Northern Ireland and a
registered charity in Northern Ireland. The address of the registered office is 43 Clarendon Street,
D&rry, BT48 7ER.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102. 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland., the Slalement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (Charities
SORP IFRS 10211 and the Charities Act (Northern Ireland) 2008.
Accounting policies
Basis of preparation
The financial slalemenls have been prepared on the historical cost basis, as modrfied by the
revaluation of certain financial assets and liabilities and investment properties measured al fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability lo continue.
The organisation received a £50,000 loan from an associated promoter which was used to fund the
restoration of the visitor and education cenlre. The promoter is not seeking repayment until such
limes as the Charity has available surplus funds. The loan balance is included in creditors at the
year end dale.
The additional short-lerm liabilities of the organisalion were repaid after the year end from funds
received from funding bodies and income generated from charitable activities.
Fund accounting
Unrestricted funds are available for use al the discretion of the trustees lo further any of the
charity's purposes.
Designated funds are unrestricted funds earmarked by the twslees for particular future project or
ommitmenl.
Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through
the terrlls of an appeal, and fall into one of two sub-classes-. restricted income funds or endowment
funds.

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements fcontinu•d)
Year ended 30 September 2018
Accounting pollcles (GontrnuFdJ
Incomlng resources
All incoming resources are included in the slalemenl of financial activities when entitlement has
passed lo the charity., il is probable that the economic benefits associated with the transaction will
flow lo the charity and the amount can be reliably measured. The following specrfic policies are
applied to particular categorie5 of income..
income from donations or grants is recognised when there is evidence of enlitlemenl to the
grft. receipt is probable and ils amount can be measured reliably.
legacy income is recognised when receipt is probable and enlillement is established.
income from donated goods Is measured at the fair value of the goods unless this is
impractical lo measure reliably, in which case the value is derived from the cost to the donor
or the eslimaled resale value. Donated facilities and services are recognised in the accounts
when received if the value can be reliably measured. No amounts are included for the
contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as Ljnrestricled funds unless there is a contractual
requirement for il to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is classified under headings of the statement of financial
activities to which il relates..
expenditure on raising funds includes the costs of all lundraising 8clivilies, events. non-
charitable trading aclivilies, 8nd the sale of donated goods.
expenditure on ch8ritable activities includes all costs incurred by a charity in undertaking
activities that further ils charitable aims for the benefit of ils beneficiaries. inclEAding those
support costs and costs relating to the governance of the charity apportioned lo charitable
aclivilies.
other expenditure includes all expenditure that is neilhor related lo raising funds for the Gharily
nor part of ils expenditure on charitable aclivilies.
All costs are allocated to expenditure categories refiecling the use of the resource. Direct costs
attributable to a single activity are allocated directly to that aclivily. Shared costs are apportioned
between the aotivities they contribute to on a reasonable. juslrfiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently staled al cost less any accumulated
depreciation and impairment losses. Any tangible assets carried al revalued amount5 are recorded
at the fair value al the dale of revaluation less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements fcontinutrd)
Year ended 30 September 2018
Accounting policios (continu8d)
Tangible assets (oontinuedl
An increase in the carrying amount of an asset as a result of 8 revaluation, is recognised in other
recognised gains and losses, unless il reverses a charge for impairment that has previously been
recognised as expenditure within the slalemenl of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised gains and losses,
except to which il offsets any previous revaluation gain, in which case the loss is shown within
other recognised gains and losses on the statement of financial activities.
Depreciation
Depreciation is calcu121ed so as to WTite off the cost or valuation of an asset, less ils residual value,
over the useful economic lrfe of that asset as follow5..
Freehold Property
20kn slraighl line
Impalrment of fixed assets
A review for indicators of impairment is carried out al each reporting dale, wth the recoverable
amount being eslimaled where such indicators exist. Where the carrying value exceed5 the
recoverable amount, the asset Is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
For the purposes of impairment lesling, when il is not possible lo estimate the recoverable amount
of an individual asset, an estimate is made of the recoverable amount of the cash-generaling unil
lo which the asset belongs. The cash-generaling unil is the smallest identifiable group of assets
that indude5 the asset and generates cash inflows that largely independent of the cash inflows
from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acouired in a business combination is. from the
acquisition date, allocated lo each of the cash-generaling units that are expected lo benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Governmgnt grants
Government grants are recognised al the fair value of the asset received or receivable. Grants are
not recognised until there is reasonable assurance that the charity will comply with the conditions
attaching to them and the grants wll be Teceived.
Where the grant doe5 not impose specified future performance-related conditions on the recipient,
il is recognised in incorne when the grant proceeds are received or receivable. Where the grant
does impose specified future performance-relaled conditions on the recipient, il is recognised in
income only when the performance-relaled conditions have been met. Where grants received are
prior lo satisfying the revenue recognition criteria, they are recognised as a liability.
Flnancial instruments
A financial asset or a financial liability is recogniged only when the charity becomes 8 party to the
conlraclual provisions of the inslrumenl.
10-

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements (Gontinu8dJ
Year ended 30 September 2018
Accounting policies (contlnued)
Flnancial instruments (contInt￿l}
Basic financial instruments are initially recognised al the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured al the cash or other consideration
expected lo be paid or received and not discounted.
Debt instruments are subsequently measured al amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured al fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured al
cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rale of interest
that is not a market rate, in which case the asset is measured al the present value of the future
payments discounted al a market rale of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised
in the slalefflenl of financial aclivilies, with the exception of hedging instruments in a designated
hedging relationship.
Financial assets that are measured al cost or amortised cost are reviewed for objective evidence
of impairment al the end of each reporting dale. If there is objective eviden￿ of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial activities
in which the initial gain was recognised.
For 211 equity instruments regardless of significance, and other financial assets that are individually
significant, these are assessed individually for impairment. Other financial assets are either
assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of irnpairment are recognised immediately. lo the exlenl that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not prevlously been recognised.
Limited by guarantee
The company is limited by guarantee and, therefore, there is no issued share capital.
Donations and legacies
Unrestricted
Fund5
Reslricled Total Funds
Funds
2018
Donations
Donations
4,321
4,321
11

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements (¢ontinuedJ
Year ended 30 September 2018
Donations and legacies (continued)
Unreslricled
Funds
Restricted Total Funds
Funds
2018
Grants
Derry City and Strabane District Council
Lottery Lodgement
Government grant income
36,026
32,996
36,026
32.996
4,321
69,022
73,343
Unreslricled
Funds
Re51ricled Total Funds
Funds
2017
Donatlons
Donations
20,603
20,603
Grants
Derry City and Slrabane District Council
Lollery Lodgemenl
Government grant income
14,389
14,389
32,996
32,996
20,603
47,385
67,988
Charltable activities
Unrestricted Totsl Funds Unreslricled Total Funds
Funds
2018
Funds
2017
Admillance Fees
1,231
1.231
12-

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements (contlnuodj
Year ended 30 September 2018
Expenditure on charitable actlvities by fund type
Unrestricted
Funds
Reslricled Total Funds
Funds
2018
Rates & water
Light & heal
Insurance
Repairs & maintenance
Wageslsalaries
Telephone
General Office Costs
Cleaning and consumables
Accountancy Fees
Depreciation
Support costs
747
4,297
1,477
87
981
747
4.297
1,477
87
981
-13
2,235
270
593
1,500
32,702
53
2.235
270
593
1.500
32,702
53
44,942
44,942
Unrestricted
Funds
Reslricled Total Funds
Funds
2017
Rates & water
Light & heat
Insurance
Repairs & maintenance
Wageslsalaries
Telephone
General Office Costs
Cleaning and consumables
Accountancy Fees
Depreciation
Support costs
3.295
1,647
1,640
12,447
2,090
522
115
2,500
32,890
1,125
58,271
3,295
1,647
1,670
12,447
2,090
545
115
2.500
32,890
1,125
23
53
58,324
Expenditure on charitable activitles by activity type
Exhibitions
and
Education Support costs
Total funds
2018
Rates & water
Light & heat
Insurance
Repairs & maintenance
Wageslsalaries
Telephone
General Office Cost5
Cleaning and consumables
Accountancy Fees
Depreciation
Bank charges
747
4,297
1,477
87
981
2,235
270
593
32,702
1,500
747
4,297
1,477
87
981
2,235
270
593
32.702
1,500
53
53
44,889
53
44.942
13-

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements (Gontinu8dJ
Year ended 30 September 2018
Expenditure on charitable aetlvltles by actlvlty type
Exhibitions
and
Education Support costs
Total funds
2017
Purchases
Rates & water
Light & heal
Insurance
Repairs & maintenance
Wageslsalaries
Telephone
General Office Costs
Cleaning and consumablos
Accountancy Fees
Exhibition and Events costs
Depreciation
Bank charges
3,295
1,647
1,670
12,447
2,090
545
115
2,500
3,295
1,647
1,670
12,447
2,090
545
115
2,500
32,890
32,890
1,125
1,125
57,199
1,125
58,324
Indopendont Examiner Fees
2018
2017
Fees payable lo the independent examiner
750
1,250
10. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows..
2018
2017
Wages and salaries
981
12,447
The average head count of employees during the year was 1 12017.. 41.
No employee received employee benefits of more than £60,000 during the year {2017= Nill.
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related enlily were
re￿iVed by the trustees
14-

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements {¢ontintsedJ
Year ended 30 September 2018
12. Tangible fixod assets
Freghold
property
Cost
At 1 Oct 2017 and 30 Sep 2018
Depreciation
At 1 October 2017
Charge for the year
At 30 September 2018
Carrying amount
At 30 September 2018
AI 30 September 2017
1,644,517
98.630
32,891
131,521
1,512,996
1,545,887
13. Debtors
2018
2017
Other debtors
40
14. Creditors.. amounts falllng due within ong year
2018
2017
Trade creditors
Social security and other taxes
Parish Loans
Other creditors
3,555
362
50,000
1,500
6,406
362
50,000
5,500
55.417
62,268
15. Creditors: amounts falllng due after more than one year
2018
2017
Other creditors
1.517,877
1,550,873
16. Deferred income
2018
2017
At 1 October 2017
Amount released lo income
1.649,777
{131,9001
1,517,877
1.649,777
(98,9041
1,550,873
At 30 September 2018
15-

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements icontlnu8d)
Year ended 30 September 2018
17. Governmgnt grants
The arnounls recognised in the financial slalemenls for government grants are as follows..
2018
2017
Recognised in creditors..
Deferred government grants due after more than one year
Recognised in income from donations and legaGies'.
Government grants income
1,517.877
1,550,873
32,996
32,996
18. Analysis of charitable funds
Restricted funds
At
30 Septembgr
2018
Al
1 October 2017
Income Expenditure
Reslricled Fund
{95.0331
69,022
144,9421
{70,953)
Unrestricted funds
At
30 September
2018
At
1 October 2017
Income Expenditure
General funds
28,278
4,321
32.599
16-