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 mu￿c81 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 orgar￿SatIOn 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-S￿ts. 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) (con11n￿d)
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
reSpor￿ab}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 charit￿S 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 Prac￿te 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 actIV￿leS
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 coMpl￿ng 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 resou￿0￿
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 ServI￿S 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$es, unl8ss il revèrses a charge for Impairment that h88 prevIou￿Y been
recognlsed as expenditure within the statsment of financial activtli8s. A decrease In the carrylng
amount of an asset as a result of revaluatlon, Is recognised In other recogn18ed gains 8nd10888S,
except lo whlch it offsets any previous revaluation gain, in whlch cas8 the lo$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 aC￿rd￿g1y. 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 r￿1vable. 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 r￿1ved.
Where th8 grant does not impose specified future performancé-relatsd conditions on the
r￿lplen[ 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 I￿￿11M¥￿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 fInan￿d 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 8Ubs8qUen￿Y 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 InI￿al 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 Ma￿h 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 defer￿d 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