COMPANY REGISTRATION NUMBER= N1044737 CHARITY REGISTRATION NUMBER: NIC100447 Schomberg Society Kfilkeel Limited Company Llmlted by Guarantee Unaudited Financial Statements 31 March 2024 PHE AN & PRESCOTT Chartered accountants River House Home Avenue Newry Co Down BT34 2DL
Schomberg Society Kllkeel Limited Company Limited by Guarantee Financial Statements Year ended 31 MarGh 2024 Page Ttust888' annual report (incorporating the directorfs report) Independent 8xamln8Vs pOrt to the trustees statement of financial actlvlties (Including Income and expenditure account) statement of financial posltlon Notes to the finanGi8S statements 10 12
Schombery Society Kilkeel Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) Year ended 31 March 2024 The trustees, who are also the dlrectors for Ihe PUTPOSaS of company law, present thelr report and the un8udlt8d financial statements of the charlty for the year ended 31 March 2024. Reference and administrative d0tall8 SGhamberg Soclety Kllkeel Llmltsd NIC100447 Reglstered charlty namo Charlty reglGtratlon number Company reglstratk)n nurnber N1044737 Prlnclpal offlce and reglBtered 8-12 Newcastle Street offl¢9 Kllke81 Co.Down 8T344AF The truslges A Bums C Wilson J Morris E Nicholson G Crozt8r R Hutchlnson S Hutchin80n J Sh191ds R M¢Ke8 S Nicholson Independont oxamln¢r Pholan & Pre¥cott Rlver House Home Avenue Newry Co Down BT34 2DL
Schomberg Soclety Kllkeel Limlted Company Limlted by Guarantee Trustees. Annual Report (Incorporating the Director's Report) {conilnu6dJ Year ended 31 March 2024 StTUCtUTeJ gov8rnanG4 and managemont Thg company is governed by a Memorandum and Artldes of Assoclation dat8d 20th Nov8mber 2002. The liabiiily of each member of the company Is limited to a contrfbution, In Ihe event of the wknding up of Ihe SoGlety. of an amount not aXC8eding £1. The Dir8Ctor8 have ultimate legal and financial responsiblliiy for the affairs of Schomberg So¢lety Kilkeel limited 81though the management of the organlsauon Is generally delegated to the stsff and volunteers. Tho Directors ol the company at 31 March 2024. all of whom have been In offlce In the pwlod ded on Ihat date, unless otherw188 ststed, ar8 Ilsted below. Schomberg Soc(ety Kllkeel Llmlted ha5 an Inductton program for dlr8Ctors In whlch dlrectors are advi58d of Iheir legal regponsibilliy and r8quirem8nts. Charltable statuB The Society has been granted chadtable status by the Charlues Commlsslon For Northem Ireland Numb8r NIC100447 Risk management Tha dlrectors have actively reviewed the malor risks whlch the charltyls exposed to and have In place 8ufflGient resouTh$ In the evgnt of adverB8 condllions. The directors have 81s0 examlned other business and operatlonal dsks, whlGh the charlty faces and conflmi that it ha8 e$tsbllsh8d 8ystsm8 to mltlgate slgnlfic8nt rlsk8.
Schomberg Society Kilkeel Limlted Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director Report) (conlfnu8dJ Year ended 31 March 2024 Objectives and actlvitles Charitabl8 purposes The Companys Ob]eGts are to advanca the educatlon of the people of the Kingdom of Mourne, Ulcer and beyond. Goncerning th8 History, Culture, Arts and Lglsure, Literature, Language, Song, Danc8, Drama and muc81 Heritage of the Ulster Scots Tr8dltion. Public b8n8fits Publlc benefits The dlred benefits whl¢h flow from th8 purpose of our organlsallon are 8n Incraa6ed Imowledge and awareness of Ulster-scots wilhln the Klngdom of Moumg, Ulster and beyDnd. Through training, workshops arKI events organised by our Society, many people both locally and from further afield obtain experience and quallflGatlons in tho music, dance. hlslory and ¢uttur8 of tho Ulster-scols and enjoy many of th8 80clal activlties assoclaled wlth the Schomberg Soclety. These beneffits are evlden¢ed through the large numbers of people attendlng our events includln9 fgstlvals, 8ummar schools. workshops, tralnlng courses and other actlvlues whlch have been well documented In both the local press and rnedl8 and through r8gular evaluations and monitorlng. We can 808 no harm by any of the purposes of our charlty. Tha ch8rity8 bèneflciailes are the ggneral public Sn the Klngdom of Mourn6, Ulster and bgyond. The only privats beneflt flowing from thls purpose is that there18 a small numbar ol paid staff and thlB is In¢ldent81 and neces88ry because thay are e888ntlal to th8 runnlng of the organlsatlon. What your organlsatlon ¢Joes The Sthomberg Soclety Kilkeel Ltd c8rri06 out the rol8 of an umbrolla and 8UPPDrt orgarSatIOn In the greater Moume$. The SDGlety ha$ eslabllshed Ulster-S¢ots hubs al R$iv6rs Hou89. KSlk8è1 and Tha Hairtlan Hub In Kilk881 which Is th8 organisatSonal base for numerous and concentrated Ulster-Scot$ actlvSlles. Th8se actlvllles InGludo: C18ssps and tuitlon in hlghland and lowland dance, fmjdle. fife, flut8, accordlon. drum malorlng, plp88 and drum. Classes In drama, arts and crafts. Prov18ion of Ulster-scots Summer Schools and overseelng the broadcastlng of an U18t&r-Scols communlty r8dlo statlon. Provides a 8afe envlronment for 8enlor Gltlzon6, Igdlgs and m8n8 groups Includlng a Men's Shed, vlctlrns and voterans who meet regularly in both cenlres. Workshop and Irainlng pro9rammès'. child proteclion, fitst aid, foodlhyglene, good governanca, event safety, marshalllng, deslgnatad person, ato The Sociaty atBO manages boxing and fltness tralnlng Ihrough our Schomberg Boxing Club. Engagemenl wlth local primary schools 8nd youth organlsations and assisting both teach8r8 and puplls to b8 aware of thelr Ulster Scots Traditions and culture. and to make avallable to schools elements of our Ulster-scots dance, muslc and knguag8 by mean8 of 8peclally prepared workshops. Thg Soclety also end&avors to rnach out to other ¢ommunltle$ who Iradlllonally have Ilttle awareness or knowledgg of Ulster-S¢ot8 by use of literature and Informative talksldebates aniJ outreach programmes. The Society algo uses nelworking wlth all exlstlng and potentlal community groups to further generate an interest in 811 thlngs UlSt8r-Sts. All of th8 abova are (xrrie(l out by Ihe Sodety In either a voluntsry capaclty or subsidlsgd by grant funding and are not for profit. Th8 Soclety organi50S and runs an annual summ9r Ulsler-scots festival with numerous aclNitles atlrecllng large crowd$ whlch Is free to everyone, along wlth other cultural festivals and avants throughout th9 year.
Schomberg Society Kilkeel Limited Company Limitsd by Guarantee Tru5tees' Annual Report (Incorporatlng the Director's Report) f¢ontlnu4d) Year ended 31 March 2024 Achievements and perforniance During the year the following aciivitles were undertakèn in furtharanca of Ihe charlties alms 8nd objectives. Overseen the OTganlsing of an annual Ulst8r-Scots Festlval. Overs@en 2 broadcasts of Ulst8r-Scots Radlo Station Sn July and Decemb8r. Facililaled a range of training courses lo marching bands, community gn)ups and cultural societies first aid. child protection. marshalling. evènt safèty, food and hyglena. deslgnated per80n. lead8rship, media training. F8cilitatsd educational youth outreach programmes in Ioc81 schoo15. churches and youth groups. Facilitated a range of Ulsler-scots tuition clè&qes in muslc and dance. Ovars88n the delivery of Ul8lgr-Scots Summer Schools. Produced Ulster-scols liieraturg and exhlbiilons. Organlsed a number of Ulster-scots ltural ovenls including Burns Events, Gath8rings and Concerts. Overs09n the ereetlon and unveillng of a statue In honour of Vlctorla Cross Wlnnsr Rob8ri Hlll Hanna.
Schomberg Society Kilkeel Limited Company Llmited by Guarantee Trustees. Annual Report (Incorporating the Dlrector'8 Report) (fQDtlnuerl) Year ended 31 March 2024 Financial rgvlew Finanolal review The financlal statsments ara Presented In the standard format required by the Statement of Recomm&nded Practice 'Accounling and Reporting by Charitles. issu8d in March 2005 and cover Ihfj actlvlties of Schomberg Society, The Statem8nt of Flnan¢ial Acllvili&s (SOFA) shows thè gross Income from 811 sourc86. Overvl8w The ¢harity realls8d a surplus of £139.392 Sn the period from the year ended 31st March 2024. Th18 perfomanc8 was expected by the Board of Directors. Incomlro resources Totsl ir)coming resources for the year were £429,854. DlreGt charitabl8 expendlture In total £290,462 was spant on th8 actlvltl85 of th8 charfty. Balance Sheot Nal funds where posillve at £419,494 as at 31 M8rth 2024. Thi8 includgd 8 £159,000 Investment In a new freehold buikling, Reserves Pollcy Thè reserves pollcy was egr88d followlng an analysls of the followlng four factors: Forecasts for18vels of Incorng in future yoarB t8klng Into account th8 rellability of each 50urc6 of Incom9 and tho pr03PgCts for opening up new sourGe$; Forgcasts for expendlture In the future years in thg basls ol plann8d activity,. Analysls of any future needs, opportunlligs, ¢ontlngen¢los or risks, the eff8¢1s of whlch are not Ilkely to be met out of Income If and when they arise., and Assessment of the Ilk8llhood of each of those needs and risks materi811sln9 and the potential con8equenc98 of the charity nol b81ng able to meet them. The charlvs pollcy Is to malnlaln a1gvo1 of free reserv95 whlch megts the needs of thg Charfty both at the cuThent tlm8 and for the fores8e8b19 fvture. Free reserves are its totsl funds excluding restriGted funds, de51gnated funds or Incom¥ funds whlch can only be released by dlsposlng of flxed assets held for ¢harlty use. Investment Pollcy Asldp from retsining 8 pwdent amount In r8seN6s aach year most of the chgrivs funds 8re to bo spenl In the short terffl so ther8 are few fvnds for long tsrm Investment. Plans for future periods Schomberg So(yety Kilkeel Limited will conlinue lo provtde saviu*8 in line with ils alm$ end obJe¢b'vg8. Events after the end of the reportlng perlod There are no post balance sheet evenls requtring dlsclosures In the financial statements
Schomberg Society Kilkeel Limited Company Limtted by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) (con11nd) Year ended 31 March 2024 Small company provlslons Thls report has be8n prepared in accordance wlth the provlsions appllGable to companles entÉtled to tho small Gompanies exemptitsn. The Iru8lees' annud report was approved on 11 Decemb8r 2024 and slgn8d on behalf of the board of Irustees by- R MGKe& Trustee
Schomberg Society Kilkeel Limited Company Llmited by Guarantee Independent Examinerfs Report to the Trustees of Schomberg SocSety Kilkeel Llmited Year ended 31 March 2024 I rèport lo the tru81e8s on my 8xamlnation of the finaneSal stataments of Schombgrg Society Kllkeel Lirnlted Cth8 charill) for the y@ar ended 81 March 2024. Responsibllltles and basls of report As the trustees of the Company land 8lso Its dlreGtors for the purposes of company law) you are reSporab}e for tho preparatlon of the linancial slalements In accordanc8 With the requiraments of Charities Act (Northern Ireland} 2008 (the '2008 Act.) and the Cumpanles Act 2006 (Ihe 2006 Acl,). You ar8 satlsf19d that the accuunts of the company are not r8qulred by charity or company law to be audited and hav8 chosen Instead to have an ind8p8ndent examlnatlon. Having satisfied mysew that the accounts of th8 company are not raqulred to b9 audltgd under Part 16 of the 2006 Act and are 8llgibl8 for Indopendont examlnatlon. I report in respect of my examination of the charilvs flnanclal staternents as carrfed out under soction 65 of th8 2008 Act. In carrylng out my examlnation I hav6 followed Ihe genèral Dlrections glven by the Charty Commlg9ion for North&rn Ireland undar s8clion 65(9)(b) of the 2008 ACL Independent examlnefs 8tstement Slnce the charitS gross Income exceeded £250.000 yow exaTnlner must be a m&mber of a body Ils16d In sa¢Uon 65 of the 2008 Act. I conflmi that l am quallfied to undertake the 8xamln8tlon becau8e l am a member of Chartered Accountants Ireland, whlch is one of th8118t8d bodle8. I have completed my oxamlnatlon. I confirm that no matters have com8 to my attentlon In connection wllh my oxaminatlon glvlng me cau89 to bellova that in any material resp8Ct: accountlng records wèra not kepl In rosped of the Gharlty a8 r8qulred by 8ectlon 386 of the 2006 ACL or th8 financjal statements do not accord wllh th088 records; or the flnanclal statements do not compiy wllh the 8ccountlng r8quirgments of sectlon 396 of Ihe 2008 Act other than any requlrement that the accounts give a 'lrue and falr, vi8w which Is not a matter considered 88 part of an Independent examlnatlon. or Ihe financial statements have not been prepar8d In a¢cordance wtth th6 melhods and principles of the Statement of Recommendad Practe for 8ccounting and reportlng by charllies appllcable to charities preparing Ihelr accounts In accordance wlth the Fln8nc181 Reporting Standard appllcable in the UK and Republic of Ir81ond (FRS 102).
Schomberg Society Kllkeel Limited Company Llmited by Guarantee Independent Examlner's Report to the Trustees of Schomberg Society Kilkeel Limited l¢onllnuedJ Year ended 31 March 2024 l Gonflrm that there ara no othèr matter8 to whlch your attentlon should be drawn to enable a proper underslanding of the accounts to be reached. FkoLo4 (L ffwÈ& Phe18n & Prèscott Chartered Accounlanis River House Home Av8nu8 Newry Co Down BT34 2DL 11 D&cember 2024
Schomberg Society Kilkeel Limited Company Llmited by Guarantee Statement of Financial Actlvltles (including income and expenditure account) Year ended 31 March 2024 2024 Unreslricted Restrl¢ted funds funds Totsl funds Totsl funds 2023 Noto Income and ondowm&nts Dongtlons and legaeles Other Irading activiti88 Inveslmenl irKome 17,714 34.208 15,882 67,602 362,252 379,966 34,206 15,682 429,854 323,183 31,129 21.424 375,736 Tolal Income 362,252 Expendlture Expenditure on raislng funds.. Cosls of ralslng donatlon8 and legacles Expenditure on charStab18 actIVleS Total expendlture 5,197 45,328 50,525 5.197 285,265 290.462 4,668 296.014 300,682 9,10 239,937 239,937 Net Income and not movement In funds 17.077 122,315 139,392 75,054 Raconttlllatlon of funds Toial funds broughl fo)ward Total funds carrlod forward 69,089 86.166 211,013 333.328 280,102 419,494 205,048 280,102 The slalement of financlal activltles Includes all galns and lo8888 recognlsod in tho year. All income and expendlbjrg derfvo from contlnulng actlvltles. Tha notes on pages 12 to 20 fonn part of thesè fihancial stat8meTrts.
Schomberg Society Kilkeel Limited Company Limited by Guarantee statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangibl8 flxed assets 14 346.682 181.612 Current assets Debtors Cash at bank and in hand 15 15,233 80,353 95,586 7,810 114,887 122,697 Credltors: amounts faulng duo withln on8 year Not current assets Total assots less current Ilabllltles 16 1,280 94.306 440.988 1,280 121.417 303,029 Credltors: amounts falllng due aftgr rnora than one year Net assets 17 21,494 419,494 22,927 280,102 Funds of th? charity Restrlctgd funds Unr8slrlcted funds Total charlty fvnd8 333,328 86,166 419,494 211,013 69,089 280.102 20 For thg year ending 31 March 2024 tho charlty was gntltled to exemptlon from audlt under secllon 477 of tho Cornpani88 Acl 2006 relating to Small comp8nles. Dlrectors, respon61bllltles', Th8 members have not requirad th8 company to oblaln an audlt of its fEn8nct81 statemgnts for the year In question in accordancg wlth s8ction 476: The dlrector8 acknowledge th81r rospon8iblllties for coMplng with the rgqulrementg of th8 A wlth respect to accountlng records and the preparatlon of financlal statements. Th8S8 fin8nclal gtatem8nt$ have been prepared In accordance wlth th& provisions epplicable to companies sublect to the small compan[. reglm8. The statement of financial position continues on the following page. The not89 on pagoB 12 to 20 form part of tlwse financial statements. 10
Schomberg Society Kilkeel Llmited Company Limited by Guarantee statement of Flnan¢lal Position {wJdnu 31 March 2024 These flnancial statements were epprovod by Ihe board of trustgès and aulhorised for Issuo on 11 December 2024 , and ara signed on behalf Of the board by. C Crozier Trustee R McKee Trust80 The note5 on pages 12 to 20 fomi part of the50 Ilnanclal statsmonts. 11
Schomberg Soclety Kilkeel Llmited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General Inforrnation The charity is a public benefit entlty a a private company limlt8d by guarant68. regt8tered In Northern Ireland and a reglgtered charity in Northem Ireland. Tha address of the re9iStered offic8 is 8-12 Newcasue Street. Kilkael, Co,Down, BT344AF. Statement of Gompllance Th&se financlal statements have been prepared In comp118nce wllh FRS 102. Tr Financi81 Reporllng St8ndard applicable in the UK and the Republic of Ireland,, the Stslement of Recommended PraBtlce 8pplicabl8 to charilias preparing th8ir aGox)unts in accordance with th8 Financial Rgporting Standard appllcable In the UK and Ropubiic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companl8s Act 2006. A¢¢ountlng pollcieg Basis of preparatlon The financlal stalemenls have beerl prepared on the historical cost basis, as modlfled by the revaluatlon of certain finan¢i81 a8set5 and Ilablllllgs and Inv08tment propgrtlgs measured at falr value through Incom8 or expendSture. The fin8nGlal statements are prepared In 8tsrlingi whlch 1$ the funcllonal currency of the enilty. Golng con¢ern Th8re are no mat8rlal uncèrteintlos about the tharftvs ablllty to contlnu8. Fund ac¢ounllng Unrgstrlcted fund8 ara avallable for u8e at the dlscrellon of Ihe Iru6t988 to further any of the charitrfs purpo8e8. D8signated funds are unr88lricled fvnds aarmarked by tha tru8teo8 for p8rtlcular futura project or commltment. Restrlcted funds are subjected to rastrictlons on thelr expendlture d8dared by thE donor or through the tsrms of an appeal, and fall into ona of two $ub-classeB- restrlcted Income funds or endowmènt funds. 12
Schomberg Society Kllkeel Limited Company Limited by Guarantee Notes to the Financial Statements (cont) Year ended 31 March 2024 Accountlng polleles (Gonllnu8dJ Incomlng resou0 All Incomlng r8source8 are included In the ststement of financlal aotivillBs when gntitlement has passed to the charlly., it Is probable that th8 ewnomiG benefits assoclated with the transaction wlll flow to the tharily and th8 amount can be rellably measured. The following speGific polSciÈ5 are applled to partlcular catsgorfes of InoJm8: Income from donatlon5 or grant818 r8C(*3nls8d when thera Is evtdence of entitlèment to thé gfft, recaipt is probable and its amount Can be measured reliably. legacy In¢ome18 recognlsed whgn receipt Is probablg and ontlU8ment is established. Income from donated good8 is measured at the falr value of the good8 unless thls ts Impraclic81 lo measure rellably. Sn whlch cas9 the value Is deAv8d from Iha cost to Ihe donor or the estlmated resale valu8. Donale(I facilltles and ServIS are recognised In thè accounts when rec81V8d if the value can be rellably measured, No 8mounls 8r& in¢luded for thp contrlbullon of general voluntears. Income from contracts for the supply of serylces is racognlsed wlth th8 dellvery of th8 contracted servica. This 18 classbfi&d as unrestrlcted fvnds unless ther6 is 8 ¢onlractual requirement for It lo be spent on a p8rt1Gul8r purpose and relurngd If unspgnl, In whlch case It may be regarded as reslrlcted. ResourGOS expended Exp8ndllur8 Is recogni5ed on an accruals basEs as a Ilabilily Is incurr8d. Expendituro Includes any VAT which eBnnol be fully re¢ovorad, and Is dassilled under headings of Ihe st81gm8nl of financial aclfvilles to whloh11 relat8S- 8xpendilur8 on raising funds InGlud8s Iha costs of all fundraislng a¢tlvhl88, evonls. non-charltable tradlng actlvltles, and the 88le of donated goods. expendiiure on charftable adlvlti8s InGludes all costs Incurred by a ¢harity In undertaklng 8Ctlvitles that further Its charltable aims for the benefit of tt8 b8n8flclarl8s, Includlng those support costs and COB18 relating to the govemance of the charity apportloned to tharitablo activities. other expendlturo Includes 811 expendlture th8t 1$ neither related to ralsln9 funds for the charily nor part of its expgndilure on charitable activitigs. All costs are allocatsd to 8xp8ndlture categorfes rafiecfing the usa of Ihe reBource. Dlrect costs attributabla to a 51ngle acllvlty 8re all¢)ceted direclly to that activity. Shared costs are apportioned belw89n the activitles thay contribute to on a aSonable, justifiablg and consistent basls. Tanglble assets TarrfJible assels are initlally recorded at cost, and subsequently stated at ctY3t less any accumulated deprgciation and Impalrment losses. Any tsngible assets carried at revalued amounts are recorded 8t the fair value at the date of revaluation less any subsequ8nt accumulated depreoiatian and subsequent accumulated impalrment losses. 13
Schomberg Society Kllkeel Limited Company Llmited by Guarantee Notes to the Financial Statements (¢onllnuedJ Year ended 31 MarGh 2024 Accounting pollcle$ (contlnu Tangible assets (conllnued) An Increase in the carying amount of an assèt as a result of a rgvaluatlon, 1$ re¢o9nlsed in other r8cognlsed gains and los$es, unl8ss il revèrses a charge for Impairment that h88 prevIouY been recognlsed as expenditure within the statsment of financial activtli8s. A decrease In the carrylng amount of an asset as a result of revaluatlon, Is recognised In other recogn18ed gains 8nd10888S, except lo whlch it offsets any previous revaluation gain, in whlch cas8 the lo$s18 shown wlthln other rocogntsed gains and losse5 on the statement of tlnancial aGtivllie3. Dèpreciatlon Dapreclation is calculated so as to writ9 off the cost or valuatlon of an asset, less Its resldu81 value, over the useful economlc Ilfe of that asset a8 follows: 5Yo Stralght Ilne Not depreciated 5Y• slraight ling 5% 8tr8ight Iln? Long leasehold property Fr88hold property Flxtures & fittlngs Stsiuo & standard Impalm)ent of tlxed as¥?ts A revlew for indicators of impairment is Carrlad out at each reporting date, wlth the rewverable amount belng estlmalèd where such Indlcators exisL Where th8 TrYIng v8lu8 8xc8eds the recovgrable amount, the ass8t 18 impairgd aCrdg1y. Prior Impalmiants are also revlewed for Posslble rev8rsal at each reportlng dato. For the purp0888 of impairm8nt testing, wh8n it 18 not Possibla to esllmale Ihe rgCOV8rabte amount of an Individual assel, an estlmate 18 made of the recoverable amount of the cash-generatlng unlt to whlch the asset belongs. The cagh-generating unlt Is the smallest id8ntif18ble group of ass8ts Ihat Includ8S the assèt and generat95 ca8h Infiows that largely Indepondent of tha cash Inflows from othèr assels or groups of assets. For impalrrnent tesllng of goodwill, the 9oodwill acqulred In a bu6ingS8 Combinatlon Is, from the acqulsltlon date, allocated lo ea¢h of Ihe cash-generating unlts that are expected to benefit from the synergles of the comblnation, irrnspectlve of wh8ther other assatg or Ilablltties of the Charlty are asslgned to th089 unlts. Government grants Govemment grants 8re recognised at th9 falr value of the asset recelved or r1vable. Grants are not reGognised untll thare is reasonable assurance that the charfty wlll comply with th8 condition5 attaching to them and Ihe grants will be r1ved. Where th8 grant does not impose specified future performancé-relatsd conditions on the rlplen[ It is recognised in income when the grant proc88ds are recelvad or roceivable. Where the grant does impose specrfied future performance-related condltlons on th8 racipi8nt, it is recognised In Income only when the perfmanc84elated condillons hav8 bean met. Where grants received are prior to salisfying the revenue recognition crlteria. Ihey are recognised 88 a Ilabilily. 14
Schomberg Society Kilkeel Llmited Company Limlted by Guarantee Notes to the Financlal Statements (contlnugdl Year ended 31 March 2024 Accounting policles I11M¥a) Flnanclal Instrnmgnts A financial 88$&t or a flnanclal Ilabililyls recognlsed only when Ihe charity bocomgs a paty to the contractual provlsions of the instrument. Basic financial instruments arè Inlllally e0gnIsed at the amount receivable or payable Includlng any related Irans8Ctlon Costs. Curr8nt 8SS8ts and current Ilabllltles are subsequently measured al th8 cash or other conslderatlon expeclgd to be pald or r8C8Iv8d and nol discounted. Dgbt Instrumenls are subsequently measured at amortlsed ¢081. Wh8ra inveglments In shares are publidy traded or theSr falr value can otherwi8e be m8asured rellably, tha Investment Is subsequently maasured at falr valu8 wllh changes In falr value recognised in income and expendilure. All other such Investments are subsequently measured at Gost less Impalmient. Other flnancial Instruments, Including derivativas, are Inltially recognSsed at falr value, unless paym8nt for an asset is deferred beyond normal buslness temis or fInand at a rate of intsrest that is not a market rate, In whlch case the a&set is measured at tha present value of tho fvtura pgyments dlscount8d ot a rn8rket rale of Intèrest for a Slmilar d8bt instrum8nt. other financlal Instruments are 8Ubs8qUenY mg88ured at falr valuo, wlth any chang98 re¢ogni8ed in the statement of financSal actlvltles, wllh the excepllon of hedglng Sn8truments In a deslgnated hedgtng relatlonshlp. Flnandal assets that are measured 8t cosl or amortlsed co81 are revlewed for obl8Ctive ovldenc8 of impaim18nt at the end of each reportln9 date. If there Is oblectlve gvldence of Impalmient, an Impalment 1055 Is CogniSed under Ihe appropriale headlng In th& ststsment of flnandal activitles in whlch the InIal galn was recognised. For all equlty Instrumènts regardl955 of signlficance. and other flnancial assets Ihat are Indlvldually signlficant, th8S& 8re aBsessed indlvldually for Impairmgnt. other financlal assgt8 ore elther assessed Indlvidually or grouped on the basls of slmilar credf( rlsk ch8raclerlstlcs. Any r&v6rsals of Impalrment are recognised Imm8dlatsly, to the extsnt that the rever881 does not result in a carrying arnounl of the financlal asset that exceeds what the carrying amount would have been had the Impairm8nt not proviously baan recognised. Llmitod by guarantee Th8 Society Is a Company Llmitsd by Guarantee, not having a shar8 ¢apital. 15
Schomberg Soclety Kilkeel Limlted Company Limited by Guarantee Notes to the FlnanGial Statements (¢ontthuod) Year ended 31 March 2024 Donations and legacies Unrestrlcted Fund8 Restricted Total Funds Funds 2024 Donatlons Donalklns 17,714 17.714 Grants Grants re¢elvabl8 Department of forelgn affalrs and trade-reconclliatlon fund 319,593 319,593 42.859 42,659 17,714 362,252 379,966 Unrestrlcted Fund8 R88tr1cted Total Fundg Funds 2023 Donations Donallons 8,939 8,939 Grants Grants recelvabla Departmenl of for8lgn affairs and lrad8-reconcillallon fund 280,849 280,849 33,395 33,395 323,183 8,939 314.244 other Iradlng actlvltles Unr85trlcted Tota5 Funds Unreslflcled Totsl Funds Funds 2024 Funds 2023 Sponsorshlps Fundraising 1,605 32.601 34,206 1.605 32.601 6,325 24,804 31,129 6,325 24,804 31.129 34,206 Investment Income Unrestslcted Total Funds Unre8tr1ct8d Total Fund8 Funds 2024 Funds 2023 Rent Receiv8d 15,682 15,682 21.424 21,424 16
Schomberg Society Kilkeel Llmited Company Lfmited by Guarantee Notes to the Financial Statements (¢ondnu8dJ Year ended 31 March 2024 Costs of raising donatlons and legacies Unrestricted Total Funds Unrestricted Total Fund5 Funds 2024 Fund8 2023 Fundraising Costs 5,197 5,197 4.668 4,668 Exp8ndltur8 on charltable aGtlvlties by fund type Unrestricted Funds Restrlcted Total Funds Funds 2024 Improvlng communlty Infrastructure Ulster Scots hlstory, drama. ,music and language Support costs 4,892 25,099 15,337 45,328 114,981 84,338 40.638 239,937 119,853 109N37 55,975 285.265 Unre5tr1cted R8slrlct8d Total Fund8 Funds Funds 2023 Improving Gommunity infr8StruGtur8 Ulsler Scots hlstory, dram8, ,mu8iC and language Supp¢)rt costs 6,275 10,281 10,549 27,10S 104,471 124,632 39,806 268.909 110,748 134,913 50,355 296,014 10. Exp8ndlture on chzrltablb a¢tivitlo9 by actlvlty type Aclivitles und8rtaken dSreGlly Support C081s Total funds 2024 Totsl fund 2023 Improving community Infrastructure Ulster Soots ht6tw, drama, .muslc and language Governance costs 119,853 34,798 154,651 142.738 109,437 109.437 21.177 285,265 134,913 18,365 21,177 55.975 229,290 296,014 11. Net Incomè Net Income Is stated after chargin{credItIng). 2024 2023 Depreclation of tangible fixed asBets (Included in govemanc8} 16.746 15,604 17
Schomberg Society Kilkeel Lirnlted Company Limited by Guarantee Notes to the Financlal Statements (¢onflnu¢d) Year ended 31 March 2024 12. Staff cost5 The total staff costs and emplDye8 ben8flts for the reportlng period are analysed as follows: 2024 2023 Wa3es and salarles 68,210 64,340 Tha average he•J ¢ount of employe08 durfng the year was 2 (2023: 2>. No employee recelved employ88 benafll8 of morn than £60,000 during the y88r (2023: NII). 13. Trust00 rgmuneratlon and expenses Tho directors reca5ved nD remuneralion durfng the year. 14. Tang5ble Ilxed asset8 Long Freehold 18asghold Fixtures and property proparty fittln98 statue & standard Total Cost Al 1 Aprll 2023 Addltlons 154,794 113,424 6.229 119,653 43,882 16,587 60,469 312,100 181,816 493,916 159,000 159,000 At 31 March 2024 154,794 D&pr8¢latlon Al 1 April 2023 Charge for the year At 31 March 2024 52.687 7,740 75,807 5,983 2,194 3,023 130.488 16,746 147,234 60,427 81.590 5,217 Garrylng amount At 31 MarGh 2024 159.000 94,387 102,107 38,063 37,817 55,252 41,688 346,682 181,612 At 31 Mah 2023 15. Debtors 2024 2023 Trade deblors Pr9paymenls and accrued Incomo 14.923 310 7,500 310 15.233 7,810 16. Creditors: amounts falllng due wfthln one year 2024 2023 Accruals and deferred incorne 1280 1,280 18
Schomberg Society Kilkeel Limited Company -Mitsd by Guarantee Notes to the Financial Statements (¢OnlfnuodJ Year ended 31 March 2024 17. Crodltors- amounts falling due after more than one yaar 2024 2023 Accruals and deferd Incoma 21.494 22,927 18. D•forred Incomo 2024 2023 At 1 April 2023 Amount released to Income 22.927 (1,433) 21,494 24,360 (1.433) 22,927 At 31 March 2024 19. Government grants Th& amounts recognlsed in the financlal statements for government grants are as follows.. 2024 2023 R8cogni58d In credltors: Defvrred government gran1¥ du6 after more than one y88r 22.927 24,380 20. Analysis of charitabl¢ funds Unrgstrlcted fvnds At 31 March 202 At 1 April 2023 Incom8 Expendlture General funds 69,089 67,602 {50.525) 86,166 At 31 March 202 At 1 Aprll 2022 InGome Expenditure General funds 39,370 61,492 (31,773) 69,089 19
Schomberg Society Kilkeel Limited Company Llmited by Guarantee Notes to the Flnancial Statsments {con¢lnu•d) Year ended 31 March 2024 20. Analysls of Gharitable funds (¢otilinu8dJ Restrlcted funds 31 Marrh 202 1 Aprll 2023 Incoma Exp8ndlture Restrlcted Fund 211,013 362,252 {239,937) 333,328 At 31 March 202 1 Aprll 2022 Income Expendlture Restrlcted Fund 165,678 314,244 {268,909) 211,013 20