COMPANY REGISTRATION NUMBER.. N1047957 CHARITY REGISTRATION NUMBER.. 100269 Aras Cholmcille Trust Company Llmited by Guarantee Unaudited Financial Statements 30 September 2020 CLAREMOUNT Chartered Accountants 43 Clarendon Street Dery BT48 7ER Illllmlnlllllll •JA7PMCBS' 301W2021 COMPANIES HOUSE JNI #155 Aras Cholmcille Trust Company Limited by Guarantee Financial Stalements Year ended 30 September 2020 Page Trustees, annual reFrf)rt (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including in￿rne 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 2020 The trustees. who are a150 the directors for the purposes of company law. presenl their report and the unaudited financial. slatemenls of the charity ftx year ended 30 September 2020. Releren¢e and admln1$trati￿ detail* R•gist•red charity n•m• Aras ch01mcil￿ Trusl Charlty r•9lStration numb•r I￿269 Comp•ny r•gl$tratlon numb•r N1047957 Prlnclpal offi￿ and r•gl#ttr•d Th• tru8t••s Mr l Doherty Mr G Dora Ind•p•ndent oxamln•r a8rem(KJnl 43 Clarendon Strfjel Derry BT48 7ER Stw¢tur•. gov•rn•nc• and manag•mgnt The ¢ompany is limited by 9uaranlee and does nol have any Share ￿pItal. The company is governed and managed by the boaid of directors. The directors who served the company Ihrou9houl th8 period are shown on page 1. The registered offu and de￿11$ of other kwofessional advisofs are also lisled on page1, The.board of.directors carry out their governance role thfoughout.lhe year ￿￿.way-01 meetings on monthly basis to review the performance of Ihe company and to rnake decisions regarding the company's financial and operational mattefs. The directors govern the activities of Ihe company in line with th¥ objeclNes sel out in the goveming documenls of the charity. nafflely Ihe Memorandurn and Article5 01 A550cialion and Ihe charity's constilulion. Achl•v•ment8 and porfornianc• The centre. which opened in June 2014. has $0 far altra¢led more than 1,6W visitors who have been able lo view video material recrealing the city as it was before the walls were erecled. There is also a lacsimile Book of Kells and range of other illuminated manuscnpls daling from the 14th century. Large.scale illustrated books for children based on the le9ends at)out Columba have also been created along wlh audio recordings of Ihe legends by local people in both Irish and English. Aras Cholmcille Trust Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directofs Report) (¢Othinuod) Year ended 30 September 2020 The centre's education kyogramme is available to all Sch￿1$ and amon9 the young people who have benefited from this resource ￿ 30 A-level RE students who visrted lo research an element ol their Curr￿Ulum, cell￿ Chn5tianity and a range of Prrmary schods who have participated in workshops related to the legacy of Columba. A series of evenls. such as Halloween 51cvytdling, a Culture Night and fvrfo Christmas craft lairs have already engaged Ihe WK1er communty throughout the year. Visitors lo Ihe cily have enjoyed their informalwe visi15 lo the Centre and have th Iherr PD5itNe and supportivo commen15 in our Visitors. Book. The Centre o￿ne0 a new café in November 2017 seryiTrJ a sdection of rtems inciudlng Soup, SandW￿h•s. Scone5 arnj a range of drinks. A comwehensive ￿an for actNilie$ in Axas Chc4m¢ille fw the year 2020. ExhitM"li¢)ns. aclivitw, public talks and cofflmunity involvement was planned for each month dunrvj 2020. This induded phologr3phic exhibition5, local artisis displaying their work and marking historical events in the1rf8 of the ￿ly. The centenary of the June Riols 1920 Is an exampfe. These *ivrttes had lo be postponed because of Covid-19. The malefials I¢y some ol ihe exhits'knons wa$ wodu¢ed and we will hold an event when rt is appropfiale lo do so. Thg Truste￿ contsnued to meet Via zoom and fewlarfy revwrtd Ihe situalthi. The conlre has been closed since 16th March 2020 due to Ihe coved restrict￿nS. During thal lirne the centre was visited regularly by a number ol volunteers lo ensure all was WWI. grass was cul elc.elc. The cofflpuler system was shutdown lo conserye energy, as was the air co￿11t￿ning. Work continuad updating the sofvlare for the gravoyard database also. FSnan¢l•l r•¥l•w The n&1 surplus resources for tht pefitid was £19,424. The company reserves al the year end were {£25,2361 of which £52.722 is unrestricted funds 8nd {£77.958) is ￿$trIcted funds. The trustees aim lo have a reserye covering at least Ihree rnonlhs 8xwndiluTe at any 9lven time. The full results are Set out in the acc¢unls which fwn part of th￿ rewl. Plan• for futur• p•rlod• Thg organisation ￿an$ conlinuirs tho 8Ctivit*s tsjttined atjove in the fort￿oMIng years 5ubjed lo salisfaclory gowation of income I￿￿11￿ arrangemonls. Small compony provl•lon• This reFort ha5 been prepargd in a¢cordance wilh the provi$ion$ 8ppIKable to companie$ enlilled to the small compan*s exempt￿n. The trustees. annual ieptyt was approved on 9 June 2021 Signed on behalf of the board of Iruslees by.. Mr l Doherty Tru$to• Mr G Ooran Trustee Aras Cholmcille Trust Company Limited by Guarantee Independent Examinerfs Report to the Trustees of Aras Cholmcille Trust Year ended 30 September 2020 l ieport lo the trustees on my eXaminat￿n of the financial stalemenls of Aras Cholmcille Trust I'the charity'l for the year ended. 30 September 2020. R•sponsibilities and basis of report As the trustees ol the company land also ils direclofs lor the purposes of company lawl you are responsible for the prep3lat￿tn of the financial statements in ￿COrdanCE with the requirements ol Charities Act (Northern Ireland) 2008 (the '2008 Act'l and the Companies Act 2006 I'lhe 2006 Act'l. You are satisfied thai the accovnls ol the company are nol requifed by charity of cornpany law to be audiletj and have chosen instead lo have an Independent examination. Having salisf*O myself that the accoun¢s of the company are not required to be audited under Part 16 of the 2006 Acl and are eligible for independent examination. I report in respecl ol my examination of the charity's financial statemenis as carried out under section 65 of the %)08 Act. In carrying out my examinaiion I have lollowe¢J Ihe general D￿eCt￿nS given by Charity Commission for Northem Ireland under section 6519llbl of the 2008 Aci. Ind¢p•ndont oxamlnerf$ $t*•mont I have completed my examinaiKJn. I confirm that no maiters have come lo my attent￿n in eonnecllon with my examination gNin9 me cause to beI￿ve that in any material respect.. accwnling recofds wefe not kept in resp￿1 of the Charity as required by section 386 of the 2006 Act.. or the financial stalements do not accryd with those records.. or the financial slaternents do not comply w41h the accountin9 requiremgnls of Section 396 ol Ihe 2006 A¢1 olher than any requirement that the account5 give a 'tfue and fair view which is not a malter considered as part ol an Independent examinaiion.. or lh8 financial statements have not been prepared in accordince with the methods and principles of the Slalemenl of Recommended Practice for accounting and reporting by charities appl¢3￿e to Charit￿$ prepafing their accounts In x¢ordance with the Financial Reporting Slandar¢J applicaNe in Ihe UK and Republic of Ifeland IFRS 1021. I confirm that there are no other mattefs lo whth y(KJr attention should be dr•wn to enablg a proper undefstanding of the accounts lo be reache(l. Mr Gerry Heaney Chartèred Accountant Ind•p•ndent Exarnin•r 43 Clarendon Street Dorry 8T48 7ER 09 June 2021 Aras Cholmcille Trust Company Llmlted by Guarantee Statement of Financial Actlvitles (including income and expenditure account) Year endod 30 September 2020 2020 Restr￿ted lunds Totsl funds 2019 Unfestricted funds Total funds Not• Incom• and endowm•nt• Donations and legacies Total In￿m• 14.508 51.387 65,895 65,895 41.604 14,508 51.387 41,604 Exp•nditur• Expenditure on charitable acbvities Total oxpondilur• 46.471 46,471 47,910 46.471 46.471 47,910 N•t incomdl•xp•nditur•} and net rnovement In lunds 14.508 4.916 19,424 16,306) R•￿ncilIatIon of fund¥ Total funds brought forw¥d Total funds carrb•d forward 38.214 182.8741 177.9581 144.660 (25,2361 138,3541 (44,660 52.722 The stalement of fInar￿1* aclivilw includes all gains aThJ losses re￿nISed in the year. All income and expenditure derive from conlinuiThJ activit￿. Th• nol•s on pages O to 14 foffli part of thts• financial S￿*m•nts. Aras Cholmcille Trust Company Llmlted by Guarantee Slatement of Flnancial Position 30 September 2020 2020 2019 Not• Flx•d ass¢ts Tangible fixed assets 11 1.448,983 1,480,106 Current ass•tg Debtors Cash at bank and in hand 12 31,298 31.362 14,907 14.907 cr￿ltOn.. •mounls falling du• wlthln on• yw N•t curr•nt a8s•t8 13 3.696 4,792 27,666 1.476.849 10,11S 1,490,221 Total a8¥•t$ les¥ ¢urr•nt Ilabllftl•s Cr•dltorn: •rnount• falllng du• aft•r mor• than ofi• y•ar N•t liabllSti•s 14 1.S01.885 1.534,881 125,236) 144.6601 Funds of th• ch•r51y Restricted funds Unreslricled lunds (77,9581 52,722 {96,0671 51,408 Tot•1 ch•rlty fund• 17 125,2361 44,660 For the year ending 30 Septembw 2020 the charity was entrtleil to exemptM)n from audit under seclion 477 01 the Companies Act 2006 relating lo small companies. Direclcvs. responsibilities.. The members have not required the company to obtain an •Jdit of its financial statements for the year in question in a¢cwdan¢e wilh section 476: The directors a¢knO%￿ed9t Ihejr responsibilit*s for complytng wlh the rèquiremenls of the Act wilh respecl lo o￿nting T￿OrdS and the preparation ol fina￿la1 slalem¢nls. These financial stalemenls have been yep¥ed in a¢￿Kdance with the wovision8 applicable lo companies subject to the small companw. regime. These finan¢ial sialements were approved by the board of twslees and authorised for iSSLtre on 9 June 2021, and are signed on behalf of Its boar(I by.. Mr l Doh•rty Trust•• Mr G Doran Trust¢t Aras Cholmcille Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 30 September 2020 General infomiation The charty is a publ￿ benefit entity and a private company limited by guaranlee. registered in Northem Ireland and a regislered charity in N¢fvn Iieland. The address of thtr registered offi Statement of complian T￿se finan¢ial stalements have btren Nepared In Coml￿￿nCe with FRS 102, 'The Financial Reporting Siandard applicable in the UK and the Republic of Ireland,. the Statement of Recommended PraCt￿e applicab￿ to charilies preparing their a¢c(xJnts in awrdance with the Financial Reporting Stand8rLI applicable In the UK and Rewblic of Ireland IFRS 1021 Icharilies SORP IFRS 10211 an¢J the Companies Act 2006. A¢¢ounting policie# 80818 of pr•paratlon The financial statements have been prepared on Ihe historul c051 basis. as modified by the revalualK>n of ￿rtain financial assets and liabilititis and investrnenl properties measured at fail value through income or expendilure. The financial slalemenls are prepared in sleding. wh￿h is the functional currenw of the entsty. GoSng concern Ther8 are no material uncértaintieg about Ihe chan"Vs ability lo continue. Fund a¢¢ountlng Unfestr￿ted funds we avalable for use al the discrelion of the trustees to further any of Ihe charily's purposes. Designated lunds are unre5tri¢ied funds eamarked by the Ifuslees for particular fubjre project or commitmenl. ReStr￿tel ftJnd$ are subjected to restrictlOn5 M Iheir expendilure ¢Jeclared by the donor or through the terms of an appeal and fall into one of two sub4asse$." restricted incorne funds or endowment fuftds. Aras Cholmcille Trust Company Limited by Guarantee Notes to the Financial Statements (conthuodl Year ended 30 September 2020 Accounting policies (¢onthv•d) In¢omin9 r•sources l incoming resources are indu¢Jed in the slalemenl of financial actsvities when entitlement has passed to the charily.. it is probable that the economic benefits associated with the transaction will flow to the chanty 8n¢J the amount can be reliably measured. The following specific policies are applied to part￿￿lar calwes of income.. income frorn donations or granls is recognised when there is evKlence ol enlillem&nl to the grft, receipi is probable and ts amoLJnl can be measured rdiably. legacy ir￿rne is recognised when receipt is prOba￿e and enlillement is estsblishod. irKome from donated goods is measuied al the fair value of the goods unless this is impraclical lo measure reliably, in which case the value is derived from Ihè cost lo the ¢Jonor or the eslimaled resale value Donale¢J lacililies and services are re¢ognised in the a￿UnIS when received rf the value can be reliably measured. No amounts are indu(Jed for the conlribution of general volunleers. income from ￿￿traCt5 for the supply of servKes is racognised wilh Ihe dèlivery of the conlractèd service. This is cl855rf*d as unrestricted funds unless there Is a contractual requirement for it lo be spent on a partKulaf purpose and relumed il un$penl. in which case it may be regarded as re51rieied. RMour¢•s gxp•nd•d Expenditure is recognised on an accruals basis as a liabilty is incurred. Expendrture indudes any VAT which cannot be fully recovered. and is classrfied under headings of the slalemenl of finan¢i81 aclivilies lo which il relates.. expenditure on raising lund$ indudes Ihe eosts of ?11 lundraising actNrtie$, events. non-chariiable trading aciNilies, and Ihe sale ol donated goods. expenditure on charitable aclivitw includes all costs incurfed by a Charity in undertaking activities Ihat further its charilable aims for the benefit of ils beneficianes, inclvding Ih05e support costs and cosis relatin9 to the governance ol lhe chafity apportioned to charitable livrties. olher expenditure includes all expendilure Ihal ts neilher related lo raising fund$ for the charity nor part ol rts exWndilu￿ on charitable activ[t￿$. All costs are allocated to expenditure categor￿5 reflecling Ihe use ol the resource Direct c05l$ attributable lo è single 8efivity we allctated diFeclly to Ihai activity. Shared cosls are apportioned behveerb the actNit*s they conlribjte to on a ￿aSOnable, jtjslifiable and consistenl basis. Tangibl• assets Tangible assets are initially recorded al c051. and subsequently staled al cost less any accurnulated depreciation and impairrnenl losses. Any tangible assets carried at revalued amounts are recorded al the fair value at the date of revaluation less any subsequent accumulated (lepreciatM)n and subsequent accumulated impaimiènt losses. Aras Cholmcille Trust Company Limited by Guarantee Notes to the Financial Statements Year ended 30 September 2020 A¢¢ounting poli¢1oS (eontlnwdj Tangible ass•tS I￿n￿￿u•&I An increase in the carying amount ol an assel as a result of a reValuat￿n. is recognised in other recognised gains an¢J losses, unless it reverses a charge for impaiimenl Ihal has previously bèen recogni5ed as expenditure within the statement of financial aCiNlties. A decrease in the carryin9 amount of an asset as a result of revaluation. is recognised in other recognised gains and 105se$. except to which it offset5 any previous revaluation gain. in which case the loss is shown within other ffjcognised gains and losses on the slatemenl ol financial activil*s. O•preciation Depreciation is calculaled so as to write off thè cost or valuath)n of an asset. less its residual value. over the useful econL¥n￿ lrfe of that asset as fdlows." Imp•lrm•nt of fix•d a$$•t• A review for indicators of impairment is camed out al each reporting dale. with the recoverable amounl being estimated where such indicators exist. Where the carryiThJ value exceed5 Ihe recoverable amouni, the asset is impaired acctydirKJly. Prior impaim*ntS are also reV￿*d lor possible revefsal at each reporting dale. For the wrposes of impairment testing. when il ts Th)t possib￿ lo estimate Ihg recoverable amount of an individual asset, an estimale is made of the recoverable amount of ihe cash.generating unil lo wh￿h the assel belongs. The cash4Jeneraling tjnil is the smallest identifiable group of a$$etS Ihal i￿ludeS the asset and 9enerales cash inflows Ihat largety independent of the cash infi¢yws from Olher assets or gr￿p8 of assets. For impairment lesting ol gocrtlwill, Ihe 909￿.11 acquired in a business combination is, from the acquisltion date, allocaied 10 each of the cash-generating unrts Ihat are expected lo benefit from the synergies of Ihe combination. Irrespective of whether other assets or liabilities of the chafily are assigngd to those unils. Gov•rnment grants Government granls are recognised al the fair value of the assel received or rtteivable. Grants are nol re¢ognised until there is reasonable assurance that the charity will comply with the conditions attaching to thern and the grants will be received. Where the grant does nol Impose specifEd luiuo performanct•rel8led condit￿n$ on the recipienl, it is reco9nised in income when ihe granl Pfo¢eeds are received or receivable. Where the grant does impose specrfièd future performance-relaled conditions on the recipient, Il is rewnised in income only when Ihe perfOrMar￿e-re1aIeO conditions have been mel. Where grants ￿ceiVed are prior lo satisfying the ￿venUe ￿ogni￿"0n criteria, they are recognised as a lia￿lity. Financlal Instruments A financial as5ei or a fbnancrdl liability 15 recognised only when ihe becomes a party lo the conlractual provisK)ns of the instrument. Aras Cholmcille Trust Company Limited by Guarantee Notes to the Flnancial Statements (tontinu• Year ended 30 September 2020 A¢¢ounting pollei•s Iconknnu•di Flnancial instruments {¢oniin¥•dJ Basic finanaal instwmenls are initially recognised 31 the amount receivable or payable including any felaled tranSact￿n cosis. Current assets and currenl liabilities are svb5equently measured al the cash or other considefation expected to be paKI or received and not discounted. Debt Instruments are $tJbsequenlly measured at amortised cost. Where inve51rnenls in shares are publ￿lY traded or the￿ lair value can olherwtse be measured reliably. the Inveslmenl is subsequently measured al fair value with ¢hanges in lair value recognised in incorne and expenditure. Al olhef such investments are Subsequenlly measured al cost less Impairment. Oiher financial instrument$, i1￿l￿dIng derivalives. are initially recognised 31 fair value, unless payment lor an asset is delerred beyond r¢ormal business ternis or finance¢J at a rate of interest that is not a market rate. In wh￿h case the asset is measured at the present value ol the fulure paymenls discovnled al a market rate of interesl for a similar debl Insirumenl Other financial Inslrumenls are subsequenlly m8a$ure(l at fair value, wrth any chan9e$ reco9nised in the statement ol fina￿la1 activilies, wrth the exCept￿n of hed9ing inslrumenl$ in designated hedging relationship. Financial assets that afe measured at cost or amortised cost a￿ revlewed for objective evidertce of impairmenl at the end of each reporling dale If there Is obieclivg evidence of impairment. an impairment loss is recognised undw the appropriate headino in the slalemenl of financial aclivit5es in which the initial gain was recogni5ed. Fof all equity inslrumenls rfjgardless of S￿nif￿anCe, and other financial assets thal are ndividually signrficanl. these are assessed individually lor Impairment. Olher financial assets are eilher assessed individually or 9fouk)e(l on Ihe basis ol similar credit r+sk characieristics. Any reversals ol Impairmenl are recognised immediately, lo the exlenl that the reversal does not result in a carrying arnount ol ihe financial asset thal excee