2016-06-30-accounts - Ulster Workhouse and Famine Trust Lisnaskea

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The Ulster Workhouse and Famine Trust Lisnaskea

(A company limited by guarantee)

Report and Financial Statements For the period 1 July 2015 to 30 June 2016

Registered in Northern Ireland, company registration number NI 607666. Registered as a charity by The Charity Commission for Northern Ireland Northern Ireland Charity number: NIC100287

Accepted as a charity for tax purposes by the Inland Revenue under reference number XT25941.

Contents	Page
Legal and Administrative Information	2
Report of the Management Committee	3
Statement of Financial Activities	7
Balance Sheet	8
Notes forming part of the financial statements	9

The Ulster Workhouse and Famine Trust Lisnaskea

Report of the Management Committee for the period ended 30 June 2016

The Management Committee presents its report and audited financial statements for the period ended 30 June 2016.

Reference and Administrative Information

Company name	The Ulster Workhouse and Famine Trust Lisnaskea
Companyregistration number	NI607666.
Northern Ireland Charitynumber:	NIC100287
Recognised by the Inland Revenue as a charity under referencenumber	XT25941
Registered Office and operational address	c/o Blanaid McKinney The Redoubt Flat 2b Henry Street Enniskillen Co. Fermanagh Northern Ireland BT74 7JT

Management Committee As at 30 June 2016
Margaret M Cassidy (appointed 22.07.2015).
John D. Cunningham
Barry Flanaghan (appointed22.07.2015)
Robert Graham	Treasurer
VictoriaF. Herbert
Blanaid McKinney	Secretary
Siobhan Maguire
R. H. Stewart Moore	Vice Treasurer
Robert M. Taylor	Chair
F.M. E.(Bertha)Willis

Auditors	na
Bankers	Ulster Bank Limited, 186 Main Street, Lisnaskea, County Fermanagh, Northern Ireland BT920JF
Solicitors	na

The Ulster Workhouse and Famine Trust Lisnaskea

Our Aims and Objectives

Purposes and Aims

Our company’s purposes as set out in the objects contained in the company’s Articles of Association are to promote regeneration, heritage and culture in Lisnaskea and the surrounding areas for the benefit of the community.

Our aims include to preserve buildings or sites of historic or architectural importance, in particular Lisnaskea Workhouse, to advance knowledge of the Irish Famines, to generate employment, and to benefit the area through the provision of amenities and attractions for the local community and for tourism.

Ensuring our work delivers our aims

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review also helps us ensure our aims, objectives and activities remained focused on our stated purposes.

The focus of our work

Our main objectives for the period were to make progress in securing a future for Lisnaskea Workhouse; and to generate local support for our work.

The strategies we used to meet our objectives included:

Seeking to develop the possibilities identified in our recent, professional “Options and Economic Appraisal – Viability Study” of Lisnaskea Workhouse; and

Maintaining local educational and fundraising activities designed to keep our ambitions in the public eye; and

Maintaining communications with the owners of the Lisnaskea Workhouse; and

Continuing to explore potential major funding sources;

How our activities deliver public benefit

Our main activities and anticipated benefits are described in this report and all our charitable activities are undertaken to further our charitable purposes for the public benefit.

The Options and Economic Appraisal for Lisnaskea Workhouse completed by the Consarq Design Group in May 2014 served as the platform for our discussions with interested parties including the Fermanagh and Omagh District Council and for our grant applications.

During the year, we continued our fundraising activities and maintained our links with Bawnboy Workhouse Limited, a non-profit organisation based in County Cavan.

We also support our website http://www.lisnaskeaworkhouse.org/ which provides historical information about Lisnaskea workhouse as well as information about the Trust.

Financial Review

The company had funds of £4,404 at the end of the period; this is a reduction of £552 reflecting our expenditure on seeking financial and other support during the period. Clearly, substantially larger funding is still required to enable the company to proceed with its current project.

Principal Funding Sources

The main sources of funding in 2015-16 were our various small-scale fundraising activities, including a Christmas Market stall and an Old Tyme Market. These raised £56 after expenses and donations of £76 were also received during the period.

The company is currently seeking to maintain this fundraising activity as well as working to identify and secure larger sources of funding.

Investment Policy

The company has only a small amount of funds and in the near future it is expected that any large funding received will be designed to be spent in the short term, so there are no funds for long term investment. Any large sums received in advance will normally be invested on the money market. The investment policy will be reviewed, should the company’s financial situation change significantly.

Reserves Policy

The Management Committee has examined the company’s requirements for reserves in light of the main risks to the organisation. The company’s current objective is to purchase or otherwise secure the Lisnaskea Workhouse property for conservation and development, subject to a satisfactory conclusion from a study of the viability of the project.

The company’s current funds reflect good local support for the challenging objective, but are dwarfed by the scale of the ambition. Realistically, the prospective purchase and development will require a large sum of money, well beyond any local resources, and so the company will have to look to major outside sources of funding to meet its requirements for capital expenditure. The Committee is also cognisant that it may be some time before the activities envisaged in the development can generate a useful income and before other tangible support can be obtained to meet on-going maintenance costs.

Under the Reserves Policy, apart from the specific Lisnaskea Workhouse project described above, the unrestricted funds not committed or invested in tangible fixed assets held by the company should be at least 12 months of the expected normal expenditure. Currently the funds are adequate to enable the Management Committee to continue their endeavours in their present form.

The Management Committee is now seeking major funding opportunities in order to raise the necessary funds to go forward with the Workhouse project as described above. Smaller scale or alternative fund-raising initiatives are also being pursued.

Plans for Future Periods

The company plans to continue the activities outlined above with a view to securing the Lisnaskea Workhouse. If successful, future plans will be largely determined by the outcome of discussions on the options identified in the viability study described above.

Structure, Governance and Management

Governing Document

The Ulster Workhouse and Famine Trust Lisnaskea is a company limited by guarantee, incorporated on 1 June 2011 and accepted as a charity for tax purposes by the Inland Revenue under reference number XT25941. The company was established by a Memorandum of Association and is governed under its Articles of Association which establish the objects and powers of the company. New Articles of Association for the company were approved and adopted by special resolution of a General Meeting held on 4 July 2012. ln the event of the company being wound up members are required to contribute an amount not exceeding £10.

The Charity Commission for Northern Ireland confirmed that the company was registered as a charity on 3 July 2014 under Northern Ireland Charity number: NIC100287.

The Management Committee

The directors of the company are also charity trustees for the purposes of charity law and under the company's Articles of Association are referred to collectively as the Management Committee. Under the requirements of the Articles of Association the members of the Management Committee must all retire from office at each Annual General Meeting and may stand for re-election immediately.

The Management Committee may have a maximum of 12 members. At present the Committee has 10 members, from a variety of occupational backgrounds relevant to the work of the company, who meet and are responsible for the strategic direction and policy of the company. Members of the Management Committee who served during the year and up to the date of this report are set out on page 2.

All members of the Management Committee gave their time voluntarily and received no benefits from the company. Any expenses reclaimed from the company are set out in note 6 to the accounts.

Risk Management

The Management Committee has conducted a review of the major risks to which the company is exposed. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Liability insurance has been arranged to cover fundraising events as required and procedures to ensure compliance with health and safety of volunteers and others.

This report has been prepared in accordance with the Statement of Recommended Practice for Accounting and Reporting by Charities (issued in March 2005) and with the Charities Act (Northern Ireland) 1964. The report has been approved by the Management Committee on 21 December 2016 and signed on its behalf by:

Robert M Taylor (Director)

The Ulster Workhouse and Famine Trust Lisnaskea	The Ulster Workhouse and Famine Trust Lisnaskea	The Ulster Workhouse and Famine Trust Lisnaskea	The Ulster Workhouse and Famine Trust Lisnaskea	The Ulster Workhouse and Famine Trust Lisnaskea	Accepted as a charity by the Inland Revenue ref XT25941	Accepted as a charity by the Inland Revenue ref XT25941	CC17a
	Annual accounts for the period
	Period start date	01.07.2015		To	Period end date	30.06.2016

Section A	Statement of financial activities
Recommended categories by activity	Details of own analysis	Note	Unrestricted funds	Restricted income funds	Endowment funds	Total this 12 months	Total last year to 30.06.2015
			£	£	£	£	£
Incoming resources(Note 3)			F01	F02	F03	F04	F05
Incoming resources from generated funds			-	-	-	-	-
Voluntary income	yes	S01	76	-	-	76	105
Activities for generating funds	yes	S02	278	-	-	278	1,718
Investment income		S03	-	-	-	-	-
Incoming resources from charitable activities		S04	-	-	-	-	-
Other incoming resources		S05	-	-	-	-	-
*Total incoming resources*		S06	354	-	-	354	1,823
Resources expended(Notes 4-8)
Costs of Generating Funds			-	-	-	-	-
Costs of generating voluntary income		S07	-	-	-	-	-
Fundraising trading costs	yes	S08	222	-	-	222	286
Investment management costs		S09	-	-	-	-	-
Charitable activities	yes	S10	609		-	609	48
Governance costs	yes	S11	75	-	-	75	352
Other resources expended		S12	-	-	-	-	-
*Total resources expended*		S13	906	-	-	906	686
*Net incoming/(outgoing) resources before* *transfers*		S14	552 -	-	-	552 -	1,137
Gross transfers between funds		S15	-	-	-	-	-
*Net incoming/(outgoing) resources before* *other recognisedgains/(losses)*		S16	552 -	-	-	552 -	1,137
Other recognised gains/(losses)
Gains and losses on revaluation of fixed assets for the charity’s own use		S17	-	-	-	-	-
Gains and losses on investment assets		S18	-	-	-	-	-
*Net movement in funds*		S19	552 -	-	-	552 -	1,137
Total funds brought forward		S20	4,956	-	-	4,956	3,819
*Total funds carried forward*		S21	4,404	-	-	4,404	4,956

Section B Balance sheet

	Note	Unrestricted funds	Restricted income funds	Endowment funds	Total this year	Total last year
		£	£	£	£	£
Fixed assets		F01	F02	F03	F04	F05
Tangible assets(Note 9)	B01	-	-	-	-	-
	B02	-	-	-	-	-
Investments(Note 10)	B03	-	-	-	-	-
*Total fixed assets*	B04	-	-	-	-	-
Current assets
Stock and work inprogress	B05	-	-	-	-	-
Debtors(Note 11)	B06		-	-	-	-
(Short term) investments	B07	-	-	-	-	-
Cash at bank and in hand	B08	5,423	-	-	5,423	5,425
*Total current assets*	B09	5,423	-	-	5,423	5,425

Creditors: amounts falling due within oneyear(Note 12)	B10	1,019	-	-	1,019	469

*Net current assets/(liabilities)*	B11	4,404	-	-	4,404	4,956

*Total assets less current liabilities*	B12	4,404	-	-	4,404	4,956

Creditors: amounts falling due after oneyear(Note 12)	B13	-	-	-	-	-
Provisions for liabilities and charges	B14	-	-	-	-	-

*Net assets*	B15	4,404	-	-	4,404	4,956
Funds of the Company
Unrestricted funds	B16	4,404			4,404	4,956
	B17	-			-	-
Restricted income funds (Note 13)	B18		-		-	-
Endowment funds(Note 13)	B19			-	-	-

*Total funds*	B20	4,404	-	-	4,404	4,956

For the period ended 30 June 2016, the company was entitled to exemption under Article 257A of the Companies (Northern Ireland) Order 1986. No members have required the company to obtain an audit of its accounts for the period in question in accordancewith Article257B(2).
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accountingrecords and the preparationofaccounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companiesregime.
The Ulster Workhouse and Famine Trust Lisnaskea is registered by The Charity Commission for Northern Ireland ref. no. NIC100287 and is accepted as a charity for tax purposes by the Inland Revenue ref. no. XT25941
Signed by two directors on behalf of the company	Signature			Print Name		Date of approval
				Robert M Taylor		21.12.2016
				Robert Graham		21.12.2016

Section C Notes to the accounts


Note 1 Basis ofpreparation
`
1.1 Basis of accounting
These accounts have been prepared on the basis of historic cost (except that investments are shown at market value)in accordance with:
• Accountingand ReportingbyCharities – Statement of Recommended Practice(SORP 2005);
• and with*		Accounting Standards;
or		Financial Reporting Standards for Smaller Enterprises (FRSSE);
• and with the Charities Act(Northern Ireland)1964

1.2 Changes toprevious accounts or in basis of accounting
No changes have been made to accounts for previous years and there has been no change to the accounting policies(valuation rules and methods of accounting)since lastyear.

Note 2 Accounting policies

This standard list of accounting policies has been applied by the company.


Note 2 Accounting policies
*This standard list of accounting policies has been applied by the company.*
INCOMING RESOURCES
Recognition of incoming	These areincludedinthe Statement of Financial Activities (SoFA)when:
resources	 the company becomes entitled to theresources;
	 the directors arevirtually certaintheywill receive theresources; and
	 themonetaryvalue canbemeasuredwithsufficientreliability.
Incoming resources with related expenditure	Where incoming resources have related expenditure (as with fundraising or contract income) the incoming resources and related expenditure are reported gross in the SoFA.
Grants and donations	Grants and donations are only included in the SoFA when the company has unconditional entitlement to the resources.
Tax reclaims on donations and gifts	Incoming resources from tax reclaims are included in the SoFA at the same time as the gift to which they relate.
Contractual income and performance related grants	This is only included in the SoFA once the related goods or services have been delivered.
Gifts in kind	Gifts in kind are accounted for at a reasonable estimate of their value to the company or the amount actually realised.
	Gifts in kind for sale or distribution are included in the accounts as gifts only when sold or distributed by the company.
	Gifts in kind for use by the company are included in the SoFA as incoming resources when receivable.
Donated services and facilities	These are only included in incoming resources (with an equivalent amount in resources expended) where the benefit to the company is reasonably quantifiable, measurable and material_._The value placed on these resources is the estimated value to the company of the service or facility received.
Volunteer help	The value of any voluntary help received is not included in the accounts but is described in the directors’ annual report.
Investment income	This is included in the accounts when receivable.
Investment gains and losses	This includes any gain or loss on the sale of investments and any gain or loss resulting from revaluing investments to market value at the end of the year.
EXPENDITURE AND LIABILITIES
Liability recognition	Liabilities are recognised as soon as there is a legal or constructive obligation committing the company to pay out resources.
Governance costs	Include costs of the preparation and examination of statutory accounts, the costs of directors meetings and cost of any legal advice to directors on governance or constitutional matters.
Grants with performance conditions	Where the company gives a grant with conditions for its payment being a specific level of service or output to be provided, such grants are only recognised in the SoFA once the recipient of the grant has provided the specified service or output.
Grants payable without performance conditions	These are only recognised in the accounts when a commitment has been made and there are no conditions to be met relatingto thegrant which remain in the control of the company.
Support Costs	Support costs include central functions and have been allocated to activity cost categories on a basis consistent with the use of resources, eg allocating property costs by floor areas, orpercapita, staffcosts by the time spent and othercosts by theirusage.
ASSETS
Tangible fixed assets for use by company	These are capitalised if they can be used for more than one year, and cost at least £500. They are valued at cost or a reasonable value on receipt.
Investments	Investments quoted on a recognised stock exchange are valued at market value at the year end. Other investment assets are included at directors' best estimate of market value.
Stocks and work in progress	These are valued at the lower of cost or market value.

Section C Notes to the accounts (cont)


Note 3 Analysis of incoming resources

	Analysis	Thisyear	Lastyear
		£	£
Voluntary income	Donations	76	105

		-	-
		-	-
		-	-
	Total	76	105



Activities for generating funds	Christmas Market Event	77	511
	Old Tyme Market	154	-
	Miscellaneous activities	47	1,207
		-	-
		-	-
	Total	278	1,718

Section C Notes to the accounts (cont)


Note 4	Analysis of resources expended

Fundraising trading costs	Christmas Market Event	152	286
	Old Tyme Market	70	-
	Other activities	-	-
		-	-
		-	-
	Total	222	286


Charitable activities	Website costs	24	48
	Consultant's fees for Grant Application	550
	Traveland subsistenceforattendingDistrict Council meeting	35
		-	-
		-	-
	Total	609	48

Governance costs	Companies House costs	-	202
	UKAPT Subscriptions	75	150
		-	-
		-	-
	Total	75	352

Section C Notes to the accounts (cont)


Note 6 Details of certain items of expenditure
6.1 Directors expenses
*Details of the amount of any payment or reimbursement of out-of-pocket expenses made to* *directors or to third parties for expenses incurred by directors.*
	This year	Last year
Number of directors who were paid expenses	3	2
Nature of the expenses	Reimbursement for payments made by directors on behalf of the company	Reimbursement for payments made by directors on behalf of the company
Total amount paid	£729	£202

6.2 Fees for examination or audit of the accounts
*No amount was paid for any statutory external scrutiny of accounts or other services provided by an* *independent examiner or auditor.*

Section C Notes to the accounts (cont)


Note 11 Debtors andprepayments
*Please complete this note if the company has any debtors or prepayments.*
Analysis of debtors	Amounts falling due within oneyear		Amounts falling due after
	This year	Last year	This year	Last year
	£	£	£	£
Trade debtors	-	-	-	-
Amounts due from subsidiary and associated undertakings	-	-	-	-
Other debtors	-	-	-	-
Prepayments and accrued income	-	-	-	-
Total	-	-	-	-

Note 12 Creditors and accruals
*Please complete this note if the company has any creditors or accruals.*
12.1 Analysis of
	Amounts falling due within oneyear		Amounts falling due after
	Thisyear	Lastyear	Thisyear	Lastyear
	£	£	£	£
Loans and overdrafts	-	-	-	-
Trade creditors	-	-	-	-
Amounts due to subsidiary and associated undertakings	-	-	-	-
Other creditors	1,019	469	-	-
Accruals and deferred income	-	-	-	-
Total	1,019	469	-	-

12.2 Security over assets
*If any loan, overdraft or other creditor holds a charge or other security over any assets of the* *company please provide details.*


Note 11 Debtors andprepayments
*Please complete this note if the company has any debtors or prepayments.*
Analysis of debtors	Amounts falling due within oneyear		Amounts falling due after
	This year	Last year	This year	Last year
	£	£	£	£
Trade debtors	-	-	-	-
Amounts due from subsidiary and associated undertakings	-	-	-	-
Other debtors	-	-	-	-
Prepayments and accrued income	-	-	-	-
Total	-	-	-	-

Note 12 Creditors and accruals
*Please complete this note if the company has any creditors or accruals.*
12.1 Analysis of
	Amounts falling due within oneyear		Amounts falling due after
	Thisyear	Lastyear	Thisyear	Lastyear
	£	£	£	£
Loans and overdrafts	-	-	-	-
Trade creditors	-	-	-	-
Amounts due to subsidiary and associated undertakings	-	-	-	-
Other creditors	1,019	469	-	-
Accruals and deferred income	-	-	-	-
Total	1,019	469	-	-

12.2 Security over assets
*If any loan, overdraft or other creditor holds a charge or other security over any assets of the* *company please provide details.*

Section C Notes to the accounts (cont)

Note 14 Transactions with related parties If the company has any transactions with related parties (other than the directors expenses explained in note 6) details of such transactions are provided in this note.

14.1 Remuneration and benefits

The amount of, and legal authority for, any remuneration or other benefits paid to a director or other related parties by the company or any institution or company connected with it.


Note 14 Transactions with related parties
*If the company has any transactions with related parties (other than the directors expenses explained* *in note 6) details of such transactions are provided in this note.*
14.1 Remuneration and benefits
*The amount of, and legal authority for, any remuneration or other benefits paid to a director or other* *related parties by the company or any institution or company connected with it.*
Name of director or connected party		Legal authority (eg order, governing document)	Amountspaid or benefit value
			Thisyear	Lastyear
			£	£
None


14.2 Loans
*Details of and amounts owing to or from the company’s directors or other related parties by the* *charity at the year end.*

	Name of director or connected party	Legal authority	Amount owing
			Thisyear	Lastyear
			£	£
Due to directors and relatedparties	None
Due from directors and relatedparties	None

14.3 Other transaction(s) with directors or relatedparties
*Details of any transaction undertaken by (or on behalf of) the company* *party has a material interest.*			*in which a director or related*
Name of the director or relatedparty	Relationship to company	Description of the transaction(s)	Thisyear	Lastyear
			£	£
		None	0	0