Company Registration Number.. N1027039 Dun Uladh Limited IA company limited by guarant88, not havlng a shara eapttall Directors. Report and Unaudited Financial Statements for the financial year ended 29 February 2024
Dun Uladh Limited IA company limited by guaranteè. not having a share capital) CONTENTS Page Directors and Other Information Directors, Report Accountants, Report Income Statement Statement of Financial Position Reconciliation of Members, Funds Statement of Cash Flows 10 Notes to the Financial Statements Supplementary Infonnalion on Income and Expenditure Account 15
Dun Uladh Limited IA company Ilmlt8d by guaranto8, nat havrng a share capital) DIRECTORS AND OTHER INFORMATION DiTectOTS L8bhras O'murchu Colmain O'muimneachain (Resigned 21 November 20231 Seamus Maccormaic Tomas O Maoldomhnaigh Padraig O'Dufaigh Padraig O'ceallaigh Company Secretary Brendan McAleer Company Registration Number N1027039 Registered Office and Business Address Cultural Heritage Centre of Ulster Drumakilly Road Omagh Co. Tyrone 8T79 OJP Ireland Accountants ECOVIS DCA Limited Chartered Accounlanls 27 Upper Mount Street Dublin 5 Ireland Bankers Bank of Ireland Ornagh Campsie Co. Tyrone BT79 OAE Northern Ireland Solicitors Murnagh8n Colton Solicitors 3 John Street Omagh Co. Tyrone BT78 1DW Northern Ireland Eugene P Kearns. B.C.L Solicitor 10 Lower Abbey Street Dublin 1 Ireland
Dun Uladh Limited {A company Ilmlted by guarantee. not havlng a sharg capltall DIRECTORS. REPORT for the financial year ended 29 February 2024 The directors present their report and the unaudited financial slalements for the financial year ended 29 February 2024. Princlpal Activity The organisalion is a charitable company limited by guarantee. The company does not have a Sha capital and consequently the liability of members is limited, SLJbject to an undertaking by each member to contribute lo the nel assets or li8bililies of the company on winding up such amounts as may be required not exceeding one pound (£11. The principal activity of the company is that of the promotion of the cultural heritsge of Ulster, particularfy the music of the provin, its history and culture. The company has established a Cultural Heritage Centre for locals and visitors lo the region. The facilities provided include an exibilion cenlre, display hall, recording facilities and a linSed bar. The company is a registered charity (reference no.. NIC100667) The company is limited by guarantee not having a share capital. Principal Risks and Uncertalnties There are a number of factors which may materially and adversely affect our ability lo achieve our objectives. These risks include: -Threal of competitors -changes in extemal operating environment -Loss of funding -changes in customer buying behavior The organislion has 8dopled controls necessary to manage these risks and enable efficient execution of the company's business model. A risk management strategy in place which is reviewed and updated at each board meeting and a risk register has been established. Financial Results The Ideficilysurplus for the financial year after providing for depreciation amounted lo £132.411 }12023 - £3,403). Directors The directors who served during the financial year are as follows: Labhras O'MuTchu Colmain O'muimneachain {Resigned 21 November 20231 Seamus Maccormaic Tomas O Maoldomhn8igh padraig O'Dufaigh Padraig O'ceallaigh In accordance with the Articles of Association, padraig O Ceallaigh will retire by rotation and. being eligible, will offer himself for re-election. Polltical Contributions The company did not make any disclosable political contributions in the current financial year.
Dun Uladh Limited IA company limited by guarantee. not having a share eapltall DIRECTORS. REPORT for the financial year ended 29 February 2024 statement of Directors, Responsibilitles The directors are responsible for preparing the Directors, Report and the financial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financial slalements for each financial year. Under Ihal law the directors have elected lo prepare the financial statements in accordance with United Kingdom Gener811y Accepted Accounting Practice {Uniled Kingdom Accounting Standards and applicable law} including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Under company law the directors musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the company and of the surplus or deficit of the company for that period. In preparing Ihese financial statements. the directors are required lo.. select suitable accounting policies and apply them consislenlly,. make judgements 2nd accounting eslimales that are reasonable and prudent,. prepare the financial slalements on the going concern basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's Iransactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure Ihat the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable sleps for the prevention and detection ol fraud and other irregularities. Post- Balance Sheet Events There have been no significant events affecting the company since the financial year*nd. Special provisions relating to small companies The above report has been prepared in accordance with the special provisions relaling to small companies within Part 15 of the Companies Act 2006. On behalf of the board as O'murchu Director Date: 01
Dun Uladh Limited IA company limited by guarant&&. not having a Share capital) CHARTERED ACCOUNTANTS REPORT to the Board of Directors on the Compilation of the unaudited financial statements of Dun Uladh Limited for the financial year ended 29 February 2024 In accordance with the engagement letter and in order to assist you to fulfil your duties under the Companies Act 2006. we have compiled for your approval the financial slalemenls of the company for the financial year ended 29 February 2024 as sel out on pages 7 10 13 which comprise the Income Slalement, the Slalemenl of Financial Position, the Reconciliation of Members, Fund5, the Slalement of Cash Flows and the related notes from the company's accounting records and from information and explanations you have given lo us. This report is made solely to the Board of Directors of Dun Uladh Limited, as a body, in accordance with the terms of our engagement. Our work has been undertaken so that we might compile the financial slalemenls that we have been engaged lo compile, report to the Company's Board of Directors that we have done so. and slate those matters that we have agreed to slate to them in this report and for no other purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility to anyone olher than the Company and ils Board of Directors, as a body, for our work or for this report. We have Caled out this engagement in accordance with guidance issued by Chartered Accounlanls Ireland and have complied with the relevant ethical guidance laid down by Chartered Accounlanls Ireland relating lo members undertaking the compilation of financial statements. You have a¢knoedged on the Slalemenl of Financial Position for the year ended 29 February 2024 your duty lo ensure that Dun Uladh Limited has kept adequate accounting records and lo prepare statutory financial statements that give a true and fair view of the assets, liabilities. financial position and deficit of Dun Uladh Limited. You consider that Dun Ul8dh Limited is exempl from the statutory audit requirement for the financial year. We have not been instructed to carry out an audit or a review of the financial stslemenls of Dun Uladh Lirniled. For this reason, we have not verified the adequacy, accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the slalutory financial statements. BtTÉo ECOVIS DCA LIMITED Chartered Accounlanls and Slalulory Audit Firm 27 Upper Mount Slreel Dublin 5 Ireland 24 November 2024 Date:
Dun Uladh Limited (A company limited by guarantee, not havlng a share captt411 INCOME STATEMENT for the financial year ended 29 February 2024 2024 2023 Notes Income 276,547 263,495 Expenditure {308.9581 {260,0921 IDeficit)Isurplus for the financial year (32,411) 3,403 Total comprehonsivg incomg 132.411) 3,403 The notes on pages 1110 13 form part of the financial statements
Dun Uladh Limited A company lirnitad by guarantee, not having 3 sham capltal) Company Registration Number: N1027039 STATEMENT OF FINANCIAL POSITION 88 al 29 February 2024 2024 2023 Notes Fixed Assets Tangible assets 205,152 230,168 Current Asset5 Deblors Cash and cash equivalents 17,128 161,961 159,518 164,629 179,089 Creditor5: amounts falling due within ong year (77,612) 179,822) Net Current Assets 87.017 99.267 Total A$$ets less Current Liabilitie5 292.169 329,435 Long Term Creditor5 10 {123.700) 1128,555) Net Assets 168.469 200.880 Reserves Capital reserves and funds Retained surplus {65.5001 233.969 (65,5001 266,380 Equity attributable to owners of the company 168.469 200,880 These financial statements have been prepared in accordance with the special provisions relating lo small companies within Part 15 of the Companies Act 2006. For the financial year ended 29 February 2024 the company was enlilled lo exernption from audit under section 477 ofthe Companie5 Act 2006. The directors confirm that the mernbers have not required the company lo obtain an audit of ils financial statements for the financial year in question in accordance with section 476 of Ihe Companies Act 2006. The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial slalernenls which give a true and fair view of the Stale of affairs of the company as al the end of the financial year and of ils profil and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otheiSe comply with the requirement5 of the Companies Act 2006 relating to financial stslements. so far as applicable to the company. Approved by the Board and authorised for issug on IL- I1- 20 and signed on its bghalf by Labhras Director 'Murchu The notes on pages 11 to 13 form parl of the fi'nancial stslements
Dun Uladh Limited IA company limited by guarantee, not havlng a share capitsll RECONCILIATION OF MEMBERS. FUNDS as at 29 February 2024 Retained surplus Total At 1 March 2022 262,977 262.977 Surplus for the financial year 3.403 3,403 Other movements in equity atlribulable to owners 165,5001 165,500) At 28 February 2023 266,380 {65,500) 200,880 Deficit for the financial year 132,4111 132,411} At 29 February 2024 233.969 165,5001 168,469
Dun Uladh Limited IA company Ilmited by guarant88, not havlng a share capital) STATEMENT OF CASH FLOWS for the financial year ended 29 February 2024 2024 2023 Notes Cash flows from operating activities IDeficil)IsurplLts for the financial year Adjustments for.. Depreciation Amortisalion of governmenl grants 132,411) 3,403 28,519 14,855) 28.401 {5,1131 18,747) 26.691 Movements in working capital: Movement in debtors Movement in creditors 12.017 12,210) {11,8661 61,291 Cash generated from operations 1,060 76.116 Cash flows from investing activities Payments to acquire tangible assets (3,503) 154,667) Cash flows from financing activlties Sinking fund Movement 165.500) Net decrease in cash and cash equivalents Cash and cash equivalents at beginning of financial year {2.443} 161.961 144.051) 206,012 Cash and cash equivalents at end of financial year 159,518 161,961 10
Dun Uladh Limited NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 29 February 2024 Gengral Information Dun Uladh Limited is a company limited by guarantee incorporated in Northern Ireland. Cultural Heritage Centre of Ulster, Drumakilly Road. Omagh. Co. Tyrone, BT79 OJP. Ireland is the registered office, which is also the principal place of business of the company. The nature of the company's operations and ils principal activities are sel out in the Directors, Report. The financi21 slalements have been presented in Pound 1£) which is also the functional currency of the cornpany. Summary of Signlficant Accounting Policies The following accounting policies have been applied consistently in dealing with items which are considered material in relation lo the company's financial statements. Statement of compliance The financial slalements of the company for the year ended 29 February 2024 have been prepared in accordan with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland IFRS 1021 issued by the Financial Reporting Council and in accordance with the Companies Act 2006. Basis of preparation The financial slalements have been prepared on the going conrn basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values. as explained in the accounting policies below. Historic81 cosl is generally based on the fair value of the consideration given in exchange for assets. Income Turnover comprises the invoice value of goods supplied and services rendered by the company, exclusive of trade discounts and value added lax. Tangible assets and depreclation Tangible assets are slated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated lo write off the original cost or valuation of tangible assets, less their eslimaled residual value. over Iheir expected useful lives as follows.. Land and buildings freehold Plant and machinery Fixtures. fillings and equipment Over the life of Asset 20 /0 Straight line 200/0 straight line The carrying values of tangible fixed assets are reviewed annu811y for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable. Trade and other debtors Trade and other debtors are initially recognised al fair value and there8fler slated al amortlsed cost usin9 the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are slated al cost less imp8irmenl losses for bad and doubfful debts. Trade and other creditors Trade and other creditors are initially recognised at fair value and thereafter slated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial. in which case they are staled al cost. Taxation The company is a registered charity (reference no: NIC1006671 and is therefore exempt from corporation tax. Long Term Credltors Capital grants received and Teceivable are treated as deferred income and amortised lo the Income Statement annually over the useful economic life of the asset lo which it relates. Revenue grants are credited to the Income Statement when received. 11
continued Dun Uladh Limited NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 29 February 2024 Foreign currencies Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position dale. Non-monelary items that are measured in terms of historical cost in a foreign currency are translated al the rates of exchange ruling al the dale of the Iransaclion. Non-monetary items that are measured al fair value in a foreign currency are translated using the exchange rates at the dale when the fair value was determined. The resulting exchange differences are dealt with in the Income Slalement. Significant accounting Judgements and key sourc95 of estlmation uncertainty GOING CONCERN The directors have prepared budgets and cash flows for a period of al least twelve months from the dale of the approval of the financial statements which demonslrale that there is no material uncertainty regarding the company's ability to meet ils liabilities as they fall due. and lo continue as 8 going concern. On this basis the directors consider il appropriate to prepare the financial statements on a going concern basis. Accordingly, these financial slalernenls do not include any adjuslmenls to the carrying amounts and classification of assets and liabilities that may arise if the company was unable to continue as a going concem. The directors have considered the potential implications of Covid-19 during their assessment of the company's abilily lo continue as a going concern. Given the current economic resources of the company. in addition lo detailed projections and forecasts, the directors have concluded that the company will continue in existence for a period of 12 months post financial statements sign-off. These projections and forecasts were constructed using up lo dale financial inforrnalion and conservative realistic assumptions derived from the direclor5' cumulative knowledge and experience. Employees The average monthly number of employees, including directors. during the financial year was 6,12023 71. 2024 Nurnber 2023 Number Admin Employee Tangible assets Land and buildings freehold Plant and Fixtures, machinery fittings and equipment Total Cost At 1 March 2023 Additions 692,876 63.446 142.018 3,503 898,340 3.503 At 29 February 2024 692.876 63,446 145,521 901,843 Depreclation At 1 March 2023 Charge for the financial year 521,821 8,695 63,446 82,905 19,824 668,172 28.519 At 29 February 2024 530.516 63,446 102,729 696,691 Net book value Al 29 February 2024 162,360 42.792 205.152 Al 28 February 2023 171,055 59,113 230,168 The Department of Culture, Heritage and the Gaellachl in the Republic of Ireland holds a charge over the company land and buildings comprising the Cultural Herilge Centre al Drumakilly Road, Omagh. Co Tyrone. 12
onlinued Dun Uladh Limited NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 29 February 2024 Debtors 2024 2023 Other debtors Prepayments and accrued income 3.566 1,545 15,009 2,119 5.111 17,128 Cash and cash equivalents 2024 2023 Cash and bank balances 159,518 161.961 Creditors Amounts falling due within one year 2024 2023 Client creditor balances Taxation and social security costs (Note 9) Other creditors Accruals 4.790 4,322 65.500 3.000 7,413 3,909 65,500 3,000 77.612 79,822 Taxation and social security 2024 2023 Creditors: VAT PAYE I NI 902 3,420 205 3.704 4,322 3.909 10. Capital Grants 2024 2023 Capital grants received and receivable At 1 March 2023 516.200 516.200 Amortisation At 1 March 2023 Amortised in financial year 1387.6451 {4,855) 1382,532) 15,113} At 29 February 2024 (392.5001 (387.6451 Net book value At 29 February 2024 123.700 128,555 At 1 March 2023 128,555 133.668 11. Events After the End of the Reporting Pgriod There have been no significant events affecting the company Sin the financial year-end. 12. Slnklng Fund The directors elected lo create a sinking of £65.500 during the financial year end 29th February 2024. 13. Income 13
DUN ULADH LIMITED IA company limited by guarantèo. not having a share capital) SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 29 FEBRUARY 2024 14
Dun Uladh Limited IA company Ilmlt8d by guarantee, not having a share capltal} SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS DETAILED INCOME STATEMENT for the financial year ended 29 February 2024 2024 2023 Income Sales Fundraising and event proceeds Bar tskings Rent of facilities Amortisation of government grants Arts Council grant Fennanagh Omagh District Council Grant Comhallas Ceolloiri Èireann grants The Executive Office (TEOI Grants Belfast City Council Co-Oper8lion Ireland 11,337 9.326 2,053 22,677 4,855 74,956 7,400 113,436 10,163 8,973 1,061 24,390 5,113 74.254 20,595 115,379 3,567 22,025 8,482 276,547 263,495 Expenditure Bar purchases Cultural activities Event expenses Wages and salaries Social security costs Rates Insuran Light. Heat & water Repairs and maintenance Printing. postage and stationery Telephone Computer costs Travelling and accomodation Legal and professional Accountancy Bank charges Discounts allowed General expenses Administration costs Depreciation 2.045 67.249 22.497 124.233 5,990 1.906 4.044 7,748 11.393 770 3,630 5,347 5.143 6,531 6,241 414 420 621 4,217 28.519 1,337 22.196 22.037 103,950 4,463 2.329 3,000 12,863 29.855 3.864 3,021 5,059 3.763 2,844 3,632 600 2.563 4,315 28.401 308.958 260,092 Net Ideflelt)Isurplu$ (32,4111 3,403 The supplementary information does not form part of the financial statements 15