COMPANY REGISTRATION NUfv18ER: N1047957
CHARifi REGISTRATION NUMBER: 100269
Aras Cholmcille Trust
Company Limited by Guarantee
Unaudited Financial Statements
30 September 2019
")961TIBX*
04￿￿2020
COMPANIES HOUSE
JNI
CLAREMOUNT FM LIMITED
Chartered accountant
43 Clarendon Street
Derry
BT48 7ER

Aras Cholmcille Trust
Company Limited by Guarantee
Financial Statements
Year ended 30 September 2019
Page
Truslees. annual report (incorporating Ihe directorfs report)
Independent examiner's report to the trustees
Statement of financial activities (including income and
expenditure account)
Statement of finanaal posttion
Notes to the financial statements

Aras Cholmcllle Trust
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report)
Year ended 30 September 2019
The trustees, who are also the directors for the wrposes of company18w, present their repN)rt and the
unaudited financ￿1 stalemenis of the charty for the year ended 30 Seplern￿r 2019.
R•ferènce and administrative dotails
Registered charity name
Afas Cholmcille Trust
Charity registrallon number
100269
Company registration number N1047957
Principal office and regist￿ed 43 Cl*endon Street
Dery
BT48 7ER
The truste•s
Rev David Latimer
Mr Ivor Doherty
Mr GK)vanni Doran
Indewndent Examlner
Mr Gerry Hear
Claremounl
Chartered accounl8nls
43 cla￿ndOn Street
Dery
BT48 7ER

Aras Cholmcille Trust
Company Limited by Guarantse
Truste•s' Annual Report (Incorporating the Dlrectorfs Report) fr•ntlhu8d)
Year ended 30 September 2019
Structure. governance and management
The company is limited by guarantee and does not have any share capital. The company i8 governed
and managed by the board of directors. The directors who served the company throughout the period
are shown on page 1. The registered offiee and details of olhei professional advisors are also Itsled on
The board of directors cary out their governan￿ role thr(MJghout the year by way of meetings on a
monthly basis lo review the perforniance of the company and to make decisions regarding the
company's finanual and operational matters. The directors govem Ihe aclivilies of the company in line
th the objectives sel out in the goveming d0￿ments of the ch¥ity, namely the Memorandum and
Artdes of Assc￿latiOn and the charl￿S ¢onstilutK)n.
AchlevemeDts and performan
The cenlre, which opened in June 2014. has so far attracted more than 1,600 visitors who have been
able lo view video material recreating the city as rt was before the walls were erected. There is also a
facsimile Book of Kells and range of Ot￿r illuminated manusuipts dating from the 14th century.
Large-seale illustraled books for children based on the legends about Columba have also been
created along with audio recordirvJs ol the legends by local people in tN)th Insh and English.
The centre's education programme is available to all schcd5 and among the young people who have
benefited from this resource are 30 A4evel RE students who visited lo research an element of their
curriculum, Celtic Chrislkqnity and a range of Pn"mary schocds who have participated in workshops
related lo the legacy of Columba. A ser￿$ of evenls. such as Halloween storytelling, a Culture Night
and Christmas craft fairs have already engaged the W￿er community throughout the year. Visitors
lo the City have enjoyed their informative visits to the Centre and have left their positive and suppoth've
ommenls in our Visitors, Book.
The Centre opened a new café in November 2017 seryiThJ a selection of tlems I￿uding Soup.
Sandwiches. Scone5 and 2 range of drinks.
Financial review
The nel outgoing resources for the per1￿j wa5 £6.305. The company reserves al the year end were
{£44.6591 of which £38,214 is unrestricted funds and1£82.873) is reslricled funds. The trustees aim to
have a reserve covering at least three months expenditure al any given lime.
The full results are set out in the ￿COUnts which fomi of this rewt.
Plans for fvture periods
The organisation plans conb"nuing the activities outlined above in the fiythwming years subject to
satisfactory generalion of income and funding arrangements.
Small company provisions
This report has been prepared in accordance with the wovi8*)ns aFvlicable to CoMpan￿S entitled lo
the small companies exemplK>n.
The trustees, annual re￿rt was approved on 27 November 2019 and signed on behalf of the board of
trustees by..
Mr l Doherty
Trustee
Doran
Trustee

Aras Cholmcille Trust
Company Limited by Guarantee
Independent Examlner's Report to the Trustees of Aras Cholmcille Trust
Year ended 30 September 2019
I re￿rt on the f￿ancial statements for the year e￿Ied 30 September 2019, Nthich comprise the
slalement of fina￿la1 activities (induding income and expenditure account), stalemenl of financial
position and the related notes.
RespKtive rnsponsibilities of trustees and •xaminer
The charitys tmslees (who are also the directors of wmpany for the purposes of company lawl
are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 2(￿. Having satisfied myseff that the charty is not subject lo audit under company
law, and is eligible IC￿ in(Jependent examination. rt is my responsibility to-.
examine the aceounts under section 65 of Charittes Act..
to follow the proeedures laid down in the general Directions given by the Charity Commission for
Northern IrelaThd urrtjer secl#)n 65(9Xbl of the Charilies Act. aThJ
to stale whether particular matters have come to my attent#)n.
Basls of independent examinerfs report
I have examined your charity accounts as required un(ler section 65 of the Charities Act and my
examination was carried out in a￿Ordance wrth the general Directions given by the Charity
Commission for Northern Ireland under sedion 65t9Xb) of the Charities Act. The examination included
revEw of the accounting records kept by the charity and a comparison of the accounts kyesenled
with those records. 11 also induded consideration of any unusual items or disclosure5 in the accounts.
and seeking explanations from the trustees corwning any such matters.
My role 15 to state whether any material matters have (xime lo my attention giving me cause to
believe..
That accountin9 records were not kept in acc(*dance with seclion 386 of the Compan*s Act
2006
That the accounts do not accord with I￿se ￿lUntIng records
That the accounts do not comply with the accounliThJ requirements of sectKJn 396 of the
Companies Act 2006 and with the methods and principles of Ihe Charit￿$ Statement of
Recommended Practice appluble lo charil*s kyeparing their accounts in a¢¢ordance with Ihe
Financial Reporting Stsndard applicable in the UK and Republic of IrelarKI.
That there is further infomiatK)n needed for a proper understanding of the accounts lo be
rea¢hed.

Aras Cholmcille Trust
Company Limited by Guarantee
Independent Examinerfs Report to the Trustees of Aras Cholmcille Trust
Year ended 30 September 2019
Independent examinerfs ststement
I have completed my examinalion arKI have concems in respect of the mallers {1) to {4} listed
above and, in connection wth following the Directions of the C￿lty Commission for Northem Iretand,
I have found no matters that require drawing lo your attention.
Mr Gerry Heaney
Chartered accountant
43 Clarendon Street
Derry
BT48 7ER
27 November 2019

Aras Cholmcille Trust
Company Limited by Guarantee
ststement of Financial Activities
(including income and expenditure account)
30 September 2019
2019
Restricted
funds Total funds Total funds
2018
UNestricled
fijnds
Income and endowments
Donations and legacies
Total incom8
5.615
35.989
41.604
73.343
5.615
35,989
41,604
73,343
Expendlture
Expenditure on charitable activiti.es
Total expenditure
47.9)9
47.909
44,942
47,909
47.909
44,942
Net {expenditure)fincome and not
rnovemen¢ in funds
5.615
(11,920)
16.3051
28.401
Reconciliation of funds
Tot81 funds brought forward
Total funds carried forward
32.599
(70.953)
{82,873)
138,3541
144.659)
(66,755)
(38.354)
38.214
The statement of financial aclNilies includes all gains and losses recogniwj in the year.
l income and expenditure derNe from continuing activit￿$.
The noteg on paq•s 7 to 14 forn1 p•rt of the#e finandal statements.

Aras Cholmcille Trust
Company Limited by Guarantee
Statement of Flnancial Position
30 Seplember 2019
2019
2018
Flxed assets
TaThJible fixed assets
11
1.480.106
1,512,996
Current assets
Debtors
Cash at bank and in hand
12
40
21.904
14,908
14.908
21.944
Creditors: amounts falling due wiihin one year
Net current ass•ts
13
4.792
55,417
10.116
133.473)
1,479,523
Total assets less cuffenl liabilitles
1.490.222
Cr•ditors.' amounts falling due aft•r more than one year
Not liabilitiès
14
1,534,881
1.517.877
{44,659)
138,354)
Funds of the ch¥ity
Restricted funds
Unrestricted funds
{82.873}
38,214
{70,953}
32,599
{38.3541
Total charfty funds
17
(44.659)
FCK the year ending 30 September 2019 the charity was entitled to exemption from audit under wlio
477 of the Companies Act 2CM)6 relaliNJ to small companies.
Trustees, responsibilities..
The mefflbers have not required the charity lo obtain an audit of its fina￿la1 statements for the
year in question in accordance wilh section 476,.
The trustees acknowledge Iher responsibilrties for complying wth.the requirements of the Act
wrth respect lo accounting records arKI Ihe Fryarat￿n of financial statements.
These financial statements have been prepared in accordartt with the FwovisKins applicable lo
companies subject lo the small compan￿. regime.
These financial slalements were approved ty the board of trustees and authorised for issue on 27
November 2019 and are signed on behalf of the ￿ard by..
Mr l Doherty
Trustee
Mr G Doran
Trnstee
Th• notes on pages 7 to 14 filmi of these fin•nclal statements.

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to Ihe Financial Statements
Year ended 30 septeM￿r 2019
General information
The charity is a private company limited by guarantee, registered in Northem Irdand and a
registered charity in Northern Irdand. The address of the registered Off￿ is 43 Clarendon
Street, Dery, BT48 7ER.
Statement of compllance
These financial slalemenls have been wepared in coMpl￿ne￿ with FRS 102. 'The Financial
ReportiThJ Standard applicable in the UK and the Republic of Ireland.. the Statement of
Recommended Practice applicable to charities preparing Iheir accounts in accordance with the
Financial Reporting Standard appluble in the UK and Republic of Ireland (FRS 1021 (Charities
SORP IFRS 102)) and the Charilies Act (N￿thern Ireland) 2008.
Accounting policiès
Basls of preparallon
The financi81 statements have ￿eft wepared on the histor￿1 cost basis, as modrf*d by the
revaluation of certain financial assets and liab.l1i￿ and inveslment properties measured at fair
vdue through income or experKJiture.
The financial stslements are rKepargJ in slerlirKJ. which is the fijnc￿nal currency ol the entity.
Golng concern
There are no material unCertaint￿S atwl Ihe charl￿S ability to continue.
The organisation re￿iVed a £50.000 loan from an associated Fyomoler vthich was used to fund
the resloralion of the visitor and education centre. The promoter is not seeking repayment until
such limes as the Charity has aV￿lable surtAus funds. The loan balance is included in creditors at
the year end date.
The additional short4erm liabilities of the (Kganisalion were repaid after the year end from funds
received from funding ￿dIeS and income generated from charilable ath"vities.
Fund acry>unting
Unrestricted funds are available for use at the diScret￿n of the trustees to further any of the
harsty'5 purposes.
Designated funds a￿ unrestricted funds eamithed by the trustees for particular future project or
Commitment.
Restr￿ed fund$ are subjected to restrictions on Iheir expenditure dedared by the donor or
through the terms of an appeal, and fall into one of fvK) suIAasses.' reslricied income fvnds or
endowment furth.

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements (wJthJwdJ
Year ended 30 September 2019
Accounting pollcles fcwllnu
Incoming resources
All irwming resources are induded in the slalement of financial activities when enlillemenl has
passed lo the charity.. il is probabfe that the e￿r￿miC benefrts associated wilh the Iransaclitin
will flow lo the charity and the amount can be reliably measured. The following specrfi¢ pdicies
are applied to partKular calewies of income..
income from donations or grants is reccgnised when there is evidence of enlillemenl to the
gift. receipt is probable and ils amount can be measured rdiatJy.
legacy ir￿Me is recognised when receipt is probable and entillement is established.
Ir￿ome from donated goods is measured at the fair value of the goods unless this is
impractical to measure rella￿y. in wh￿h case the value is derrved from the cost lo the donor
or the estimated resale value. t)onaled fxililies aTrJ services are recognised in the
accounts vthen received rf the value can be re[￿blY measured. No amounts are induded for
the contribution of general volunteers.
income from contracts for the supply of services i8 recTr3ni8ed ￿th the delivery of the
contracted service. This is classthed as unreStr￿e￿ funds unless the￿ is a contractual
requirement for rt lo be spent on a partthlar purFose and relumed rf unspent. in which case
il may be regarded as restricted.
Resources expended
Expenditure is recognised ¢)n an accruals basis as a liabilty is incurred. Expenditure includes any
VAT which cannot be fully recovered. and is das$rf￿￿ uThJer head1r￿￿5 of the statement of
rinancial activities lo which il relates..
oxpendilure on raising funds includes the costs of all fundraisir& activit￿S. events,
non•charitable tra(ling activities. and the sale of donate(I goods.
expenditure on charilable activities indudes all costs incurred by a charity in undertakin9
a¢tivilies that further ils ¢harilable aims for Ihe benefit of its beneficiaries. including those
support costs and costs rdating to the govemance of the charity apportioned to charitable
activities.
other expeThJiture includes all expendilufe that is neither related lo raising funds for the
chanty nor p&t of its expenditure on charitable activities.
All costs are allctaled to expendrture categories refiecting the use of the resource. Direct costs
attributable lo a single activty are alloeated directty to that activity. Shared costs are apportioned
betsveen the activities tw contr"rbule to on a reasonable. justifia￿e and consislenl basis.
Tangible assets
Tangible a55els are initialty recorded at ￿$1. and subsequenty slated al cost less any
accumulated depreciatw and impairment 1055es. Any tsngible assets carried at revalue¢J
amounts are recorded at the fair value at the dale of revaluation le55 any subsequent
accumulated dewec1a1￿n and subsequenl accumulaled impairment losses.

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements (¢onknuffdJ
Year ended 30 September 2019
Accounting policies fconthwd)
Tangiblo assets
An increase in the carrying amount of an asset as a result of a revalualDn, is recognised in other
recognised gains and losses, unless it reverses a charge impairment that has previously been
recognised as eX￿nditUTe within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluatK)n. is reeognised 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 fina￿181 activrties.
Depreclation
Depreciation is calculated so as to write off the cost or ¥a￿atiOn of an asset, less ils residual
Va￿e, over the useful economic lrfe of that asset as foll¢yws.'
Freehold Property
2% straight line
Impalrment of flxed assets
A review for indulors of impaim)ent is carried out al each reporknng dale, with the recoverable
amoJnl being eslimaled where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior irnpairmenls we also revEwed for
ssible reversal at exh repryting date.
For the purposes of impaimient lesb"ng. when it is not possible lo estimate the recoverable
amount of an indivKlual asset, an estimate is made of the recoverable amounl of the
cash-gererating unil lo which the asset beloThJs. The ￿Sh-generalIng unil is the smallest
identifiable group of assets that indudes the asset and generates cash inflows that largely
independent of the cash infflows from other assets or groups of assets.
For impairment testing of goodwill. the goodwll acquired in a business combination is, from the
acquisition dale. allocated lo each of the ¢ash4Jeneraling units that are expected lo benefit from
the synergies of the combination. irrespective of whether other assets or liabilities of the ¢harity
are assigned lo those units.
Government grants
Govemmenl grants are recognised at the fair value of the asset received or receivable_ Grants
are not recognised until there is reasonable assurance that the chanty will comply with the
conditions attaching to them and the grants will be received.
Where the grant does not imFKJse spe(Jfied future performance-related conditions on the
recipient, il 15 recognised in income when the grant proceeds are received OT receivable. Where
the grant does impose specrfied future perfomiante-relate(I conditions on the recipient. it i8
rec￿nISed in income only when the performanc￿elated condblions have been mel. Where
grants iecetved are prior to sats'sfying the revenue rewnition criteria, they are recognised a$ a
Financial instruments
A financial asset or a financAI liability is rec(MJnise(l onty when the charty becomes a party to the
conlraclual provisions of the instrument.

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements (fj(wthu•rfJ
Year ended 30 September 2019
Accounting poliGies fcontsnwdj
Financial inslruments (¢onllnwdJ
Basic financial instruments are Initial￿ recogriised al the amcyJnt receNable or payable including
any related transath.on costs.
Current assets and ujrrent liabililEs are subsequentty measured al Ihe cash or other
consideralron expected lo be paid or received and not discounted.
Debt instrumenlg are 5ub5equenly measured at amortised cost.
Where investments in shares a￿ publicty traded or the￿ fair value can otherwise be measured
rdiably. the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. Al ot￿r such investments are subsequently measured at
eosl less impairment.
Other financial instruments, induding derNatives. are inilially re￿nised at fair value, unless
payment for an asset is deferred beyond rM)rmal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the FKesent value of the future
payments discounted al a market rale of interest for a similar debt instrument.
Other financial instruments are subsequenty measured at fair value, with any changes
recognised in the stslemenl of financial activities, wilh the exception of hedging instruments in
deS￿nated hedging relationship.
Financi81 assets that are rneasu￿d al cosl or amortised cost are reviewed ft)r objective evidence
of impairment at the end of each rewrling date. If there is objeclive ev*Yence of impairment, an
impairnient loss is recconised under the appropriate heading in the slalemenl of financial
aclivilies in which the initial gain was recognise(l.
For all equity instruments regardless of significance. arKI other financial assets that are
individually signrficanl. these are assessed individually for impairmenl. Other financial assets are
eithef assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognise(l immediately, to the extent that Ihe reversal (Joes not
result in a carrying amount of the financial asset that exceeds what carrying amount would
have been had the impaimienl nol previously been recognise(l.
Limited by guaranlee
The company is limited by gvaranlee and. theref(￿e, there ks no issued share capllal.
Donations and legacies
un￿StrICted
Funds
ReStr￿ted Total Funds
Funds
2019
Oonations
Donat￿n5
5,615
5,615
-10-

Aras Cholmcille Trust
Company Limited by Guarantee
Notes to the Financial Statements (continwdj
Year ended 30 September 2019
Donations and l•gaci•s fconttnue
Unrestricted
FuThls
Restr￿le(l Total Funds
Fun(Is
2019
Grants
Derry and StrabarE Council
Lottery Lodgement
Govemment grant income
2.993
2,993
32.996
32,996
5.615
35,989
41,604
unreskn.cted
Funds
ReStr￿ted Tolal Funds
Funds
2018
Donations
Donations
4,321
4.321
Grants
Derry and Strabane Cwncil
Lottery Lodgemenl
Governmenl grant income
36,026
32.996
36.026
32.996
4.321
69,022
73,343
Expenditurg on ¢haritable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2019
Rates & water
Light & heal
Insura[￿e
Repairs & maintenarte
W8geslsal8ries
Telephone
Gener81 Off￿e Costs
Cleaning and conSuma￿eS
Accountsncy Fees
Exhibition and event cosls
Depreciation
Suptx)rt costs
392
4.017
1.505
2.061
1,882
1,882
879
510
1.190
617
32.890
392
4.017
1.505
2.061
1,882
1,882
879
510
1.190
617
32,890
47.909
47,909
11

Aras Cholmcille Trust
Company Llmited by Guarantee
Notes to tho Financial Statements (c￿￿￿¥d)
Year ended 30 September 2019
Expendlture on charllable activitles by fund type
Uffestricled
Funds
RestrKled Total Funds
FuTrJs
2018
Rates & water
Light & heat
Insurance
Repairs & mainlenance
Wageslsalaries
Telephone
General Office Costs
Cleaning and consumables
Accountancy Fees
Depreciation
Support costs
747
4.297
1.477
87
747
4.297
1.477
87
981
2,235
270
593
1,500
32,702
53
2.235
270
593
1.500
32.702
53
44,942
44.942
Expenditure on charitabk activitles by activity type
Exhibrtions
and
EduCat￿n Support ¢osl$
Total funds
2019
Rates & water
Light & heal
Insurance
Repairs & maintenance
Wageslsalaries
Telephone
General Office Costs
Cleaning and conSumat￿e￿
Exhibition and event costs
Accountancy Fees
Depreciation
Bank ¢harges
392
4.017
1.505
2.C61
1.882
1.882
879
510
617
1,190
32,8
392
4.017
1,505
2,061
1,882
1.882
879
510
617
1,190
32,890
84
47.825
47.909
Exhibitions
Total funds
2018
Education Support costs
Rates & water
Light & heal
Insurance
Repairs & maintenance
Wageslsalaries
Telephone
General Office Costs
Cleaning and consumables
DeFKeciation
Accountancy Fees
Bank charges
747
4.297
1.477
87
747
4.297
1.477
87
2.235
270
593
32.702
2.235
270
593
32,702
53
53
44.889
53
44.942
-12-

Aras Cholmcille Trust
Company Limlted by Guarantee
Notes to the Financlal Statements
Year ended 30 September 2019
Net lexpendituie)fincome
Nel {expenditureyincome is sL8ted aftw chargin￿{Crediti￿g).
2019
2018
Depreciation of tangible fixed assets
Loss on disposal of herttage assets
32,890
617
32.8
120
Staff cosls
The tolal staff costs and emFAoyee benefits for the rewtirMJ pemd are analysed as fdlows:
2019
2018
Wages and salaries
The average head count of employees during the year was Nil12018: Nill.
1.882
981
No employee reeerved employee benefits of more than £60.OfKI during the year (2018.. Nil).
10. Trustee remuneralion and expenses
No rernuneration or other benefrts from ernployment wth the chariiy or a related entity were
received by the trustees
11. Tangible fixed assets
Freehold
property
Cost
At 1 Oct 2018 and 30 Sep 2019
DepreGlatlon
Al 1 Oclobef 2018
Charge for the year
At 30 Septemb¢r 2019
Carrylng amount
At 30 September 2019
AI 30 September 2018
1.644.517
131.521
32.890
164.411
1,480,106
1.512,996
12. 1)ebtors
2019
2018
Other debtors
40
13-

Aras Cholmcille Trust
Company Limited by Guarantee
Notss to the FinancSal Statements
Year ended 30 September 2019
13. Creditots: amounts falllng due within ono ygar
2019
2018
Trade creditors
Social security arKI other taxe5
Parish Loans
Other creditors
3.262
3.555
362
50.0
1.500
1,500
4,762
55.417
14. Cr￿ltOrS. amounts falling due after more one year
2019
2018
Deferred Credit- Government Grants
Parish Loan
1.484,881
50.000
1.517.877
1.534,881
1,517,877
15. Deferred Income
2019
2018
At 1 Oclob¥ 2018
Amount released lo income
1.649.777
1.649,777
(164,896) {131,900)
1.484,881
1.517.877
At 30 September 2019
16. Govemmènt grants
The amounts rec(*Jnised in the financial statements for 9ovemmenl grants are as follows..
2019
2018
Recognised in creditors=
Deferred govemmenl grants due after miffe th￿ one year
Recognised in income from donaknons and legac￿$..
Government grants income
1.484.881
1.517,877
32.996
32,996
17. Analysis of charitabl• funds
Unrestrlcted funds
At
30 September
2019
1 Octotw 2018
Income Expendrture
General funds
32.599
5.615
38,214
Restricted funds
At
30 September
2019
At
1 October 2018
Income Expenditure
Restricted Fund
(70.9531
35.989
(47,909>
182.8731
14-