Company Reglstratlon Number: N1027039 Dun Uladh Limited IA eompany limited by guarantee. not havlng a share capital) Dlrectors. Report and Unaudlted Financial Statements for the financial year ended 28 February 2025
Don Uladh Limited IA company Ilmlted by guarantee. not having a sharè eopltal) 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 Information on Income and Expenditure A¢¢ount 15-16
Dun Uladh Limited IA eompany limited by guaranteè, not having a share capllall DIRECTORS AND OTHER INFORMATION Dlrectors Labhras O'murchu Seamus MacCormai¢ Tomas O Maoldomhnaigh Padraig O'Dufaigh Padraig O'ceallaigh (Resigned 18 February 20251 Company Secretary Brendan McAleer Company Reglstratlon Number N1027039 Reglstered Offlce and Buslness Address Cultural Heritage Centre of Ulster Drumnakilly Road Omagh Co. Tyrone BT79 OJP Ireland Accountants ECOVIS DCA Limited CharteTed Accounlanls 27 Upper Mount Street Dublin 5 Ireland Bankers Bank of Ireland Omagh Campsie Co. Tyrone BT79 OAE Northern Ireland Sollcltors Mumaghan Colton Solicitors 3 John Street Omagh Co_ Tyrone BT78 1DW Northern Ireland Eugene P Keams. B.C.L Solicitor 10 Lower Abbey Street Dublin 1 Ireland
Dun Uladh Limlted (A company limited by guarantee. not having a share c4pltal) DIRECTORS. REPORT for the financial year ended 28 February 2025 The directors present their report and the unaudited financial statements for the financial year ended 28 February 2025. Prlnclpal Actlvlty The organisation is a charitable company limited by guarantee. The company does not have a share capital and consequently the liabilily of members is limited, subject lo an undertaking by each member to contribute to the net assets or liabilities of the company on winding up such amounts as may be required not exceeding one pound1£1). The principal aGtivity of the ¢ompany is that of the promotion of the cultural heritage of Ulster, particularly the musio of the provin¢e, its history and culture. The Gompany has established a Cultural Heritage Centre for locals and visitors to the region. The facilities provided include an exibilion centre, display hall. recording facilities and a licensed bar. The company is a registered charity (reference no.. NIC1006671 The company is limited by guarantee not having a share capital. Prlnclpal Rlsks and Uncertalntles There are a number of factors which may materially and adversely 8ffect our ability to achieve our objectives. These risks indude- -Threat of ¢ompelilors -changes in external operating environment -Loss of funding -changes in customer buying behavior The organistion has adopted ntrOl$ ne¢essary 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. Flnanclal Results The surplusl(deficill for the finan¢ial year after providing for depreGialion amounted to £69512024 - £{32,41111. Dlrectors The directors who served during the financial year are as follows.. Labhras O'murchu Seamus Maccormaic Tomas O Maoldomhnaigh padraig O'Dufaigh padraig O'ceallaigh (Resigned 18 February 20251 In accordance with the Constitution, the directors retire by rolalion and. being eligible. offer themselves for re-election. Polltlcal Contrlbutlons The company did nol make any disdosable politi¢al contributions in the current financial year.
Dun Uladh Limited IA company Ilmlted by guarantee, not having a share capital) DIRECTORS. REPORT for the financial year ended 28 February 2025 Statement of Dlrectors. Responslbllltles 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 statements for each financial year. Under that law the directors have elected to prepare the financial statements in aecordance with United Kingdom Generally Ac¢epled Accounting Practice (Uniled Kingdom Accounting Standards and applicable lawl including FRS 102 "The Financial Reporting Slandard applicable in the UK and Republic of Ireland" Under company law the directors must not approve the financial statements unless Ihey are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing these financial statements, the directors are required to= select suitable accounting policies and apply them consislenlly; make judgements and accounting eslimales that are reasonable and prudent., prepare the financial statements on the going ¢oncem basis unless il 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 ompany's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial slalemenls comply with the Companies Act 2006. They are also sponSible for safeguarding the assets of the company and hence for tsking reasonable steps for the prevention and detection of fraud and other irregularities. Post- Balance Sheet Events There have been no significant events affecting the company since the financial year-end. Speclal provlslons relatlng to small ¢ompanles The above report has been prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006. On behalf of the board Labhr Dlrector O'Mur¢hu Date: . ZoLJ-
Don Uladh Llmlted (A company limited by guarantee. not having a share capitall CHARTERED ACCOUNTANTS REPORT to the Board of Directors on the Compilation of the unaudited financial statements of Dun Uladh Llmlted for the financial year ended 28 February 2025 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 28 February 2025 as set out on pages 7 to 13 which comprise the Income Statement. the Slalemenl of Financial Position, the Reconciliation of Membeis, Funds, the Slatement 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 accordan¢e with the terms of our engagement. Our work has been undertaken so that we might compile the financial statements that we have been engaged to compile. report lo the Gompany's Board of Directors that we have done so, and stale those matters that we have agreed to state lo them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report. We have carried out this engagement in a¢cordance with guidance issued by Chartered Accountants Ireland and have complied with the relevant ethical guidance laid down by Chartered Accountants Ireland relating lo members undertaking the compilation of financial slalements. You have acknowledged on the Statement of Financial Position for the year ended 28 February 2025 your duty lo ensure that Dun Uladh Limited has kept adequate accounting records and to prepare slalulory financial statements that give a true and fair view of the assets. liabilities, financial position and surplus of Dun Uladh Limited. You consider that Dun Uladh Limited is exempt from the slalulory audit requirement for the finanGial year. We have not been instructed lo carry out an audit or a review of the financial statements of Dun Uladh Limited. For this reason, we have nol verified the adequacy. accuracy or completeness of the accounting records or information and explanations you have give s and we do not. therefore. express any opinion on the statutory financial slalements. VIS DCA LIMITE Chartered Accountants 27 Upper Mount Slreel Dublin 5 Ireland Date".
Dun Uladh Limited IA Company limited by guarantee, not having a share capital) INCOME STATEMENT for the financial year ended 28 February 2025 2025 2024 Notes In¢ome 353,134 276,547 Expendlture (352,4391 1308,958) Surplusl{deflclt) for the flnan¢lal year 695 132,411) Total comprehenslve Income 695 132,4111 The notes on page¥ 1110 13 form part of the financial statements
Dun Uladh Limited {A company limlted by guaranteè. not having a share capital) Company Registration Numbèr: N1027039 STATEMENT OF FINANCIAL POSITION as at 28 February 2025 2025 2024 Notes Flxed Assets Tangible assets 198,495 205,152 Current Assets Debtors Cash and Cash equivalents 9,459 170,585 5,111 159,518 180,044 164,629 Credltors: amounts falllng due wlthln one year 124,800) 177,6121 Net Current Assets 155,244 87,017 Total Assets less Current Llabllltles 353,739 292,169 Long Term Credltors 10 1119,076) 1123,7011 Net Assets 234,663 168,468 Reserves Capital reserves and funds Retained surplus 165.500} 233,968 234,663 Equlty attrlbutable to owners of the company 234,663 168,468 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 28 Febnjary 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006. The directors confirm that the members have not required the Company to obtain an audit of ils financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for ensuring that the company keeps accounting re¢ord$ which comply with section 386 and for preparing financial statements whieh give a true and fair view of the slate of affairs of the company as at the end of the financial year and of 115 profit and loss for the financial year in accordance with the requirements of section5 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements. so far as applicable lo the company. Approved by the Board and authorlsed for Issue on /J and slgned on Its behalf by Labhras O'murchu Dlrector The note8 on pages 1110 13 form part of the financial slalements
Dun Uladh Limited IA company Ilmited by guarantee. not havlng a share capital) RECONCILIATION OF MEMBERS, FUNDS as at 28 February 2025 Retalned surplus Slnklng fund Total At 1 March 2023 266,379 (65.5001 200,879 Deficit for Ihe financial year 132,4111 132,4111 At 29 February 2024 233,968 (65.5001 168.468 Surplus for the financial year 695 695 other movements in equity attributable to owners 65.500 65,500 At 28 February 2025 234,663 234,663
Dun Uladh Llmited IA company limltèd by guaranteè, not havlng a share capital) STATEMENT OF CASH FLOWS for the financial year ended 28 February 2025 2025 2024 Notes Cash flows from operatlng actlvltles Surplus/(deficit) for the financial year Adjustments for.. Depreciation Amortisation of government grants 695 (32,4111 28,144 14,6251 28,519 14,8551 24,214 {8,747) Movements in working ¢apital'. Movement in debtors Movement in creditors (4,348) 12.017 12,2101 Cash (used inygenerated from operation$ 32,554 1,060 Cash flovts from Investlng actlvltles Payments to acquire tangible assets 121,487) 13,5031 Net decrease In cash and cash equlvalents Cash and cash equlvalents at beglnnlng of Ilnanclal year 11,067 159.518 12.443) 161,961 Cash and cash equlvalents at end offlnanclal year 170,585 159,518 10
Dun Uladh Limited NOTES TO THE FINANCIAL STATEMENTS for Ihe financial year ended 28 February 2025 General Inlormatlon Dun Uladh Limited is a company limited by guarantee incorporated in Northern Ireland. Cultural Heritage Centre of Ulster, Drumnakilly Road, Omagh, Co. Tyrone, BTT9 OJP. ITeland is the registered offi¢e, which is also the principal place of business of the company. The nature of the company's operations and ils principal activities are set out in the Directors. Report. The finanGial statements have been presented in Pound {£) which is a150 Ihe fvnctional currency of the company. Summary of Slgnlflcant A¢¢ountlng Pollcles The followrng accounting policies have been applied consistently in dealing with items whiGh are considered matenal in relation to the company's financial slalements. Statement of compliance The financial statements of the company for the year ended 28 February 2025 have been Prepared in accordance with the Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland {FRS 1021 issued by the Financial Reporbng CounGil and in accordance with the Companies Act 2006. Basls of preparatlon The financial statements have been prepared on the going concern basis and in accordan¢e with the historical cost convention except for certain properties and financial instruments that are measured al revalued amounts or fair values, as explained in the accounting policies below. Hi$torical cost 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 tax. Tanglble assets and depreclatlon Tangible assets are staled at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their eslimaled residual value, over their expected useful lives as follows.. Land and buildings freehold Plant and machinery Fixtures. fittings and equipmenl Over the life of Asset 200h straight line 200h straight line The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstan¢es indicate the carying value may not be recoverable. Trade and other debtors Trade and olher deblors are initially recognised at fair value and Iheieafter slated al 8mortised cost using the effective interest rnelhod less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are slated at cost less impairment losses for bad and doubttul debts. Trade and other credltors Trade and other creditors are initially recognised at fair value 8nd thereafter stated at amortised c08t Using the effective interest rale method, unless the effect of discounting would be immaterial. in which case they are stated at cost. Taxatlon The Company is a registered charity (reference no= NIC1006671 and is therefo exempt frorn corporation lax. Long Term Credltors Capital grants received and receivable are treated as deferred income and amortised to the Inry)me Statement annually over the useful economic life of the asset to which it relates. Revenue grants are credited lo the Income statement when received. 11
continued Dun Uladh Limited NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 28 February 2025 Forelgn currencles Monetary assets and li8bililies denominated in foreign curren¢ies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated al the rates of exchange ruling al the date of the transaction. Non-monelary items that are measured al fair value in a foreign currency are translated using the exchange rates al the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Slatemenl. Slgnlflcant a¢countlng Judgements and key source5 01 estlmatlon un¢ertalnty GOING CONCERN The directors have prepared budgets and cash flows for a period of at least twelve months from the dale of the approval of Ihe financial statements which demonstrate that Ihere is no material uncertainty regarding the company's ability to meet its liabilities as they fall due. and to Gonlinue as a going concern. On this basis the directors consider it appropriate to prepare Ihe financial statements on a going concem basis. Accordingly, these financial statements do not include any adjustments lo the carrying amounts and classification of assets and liabilities that may arise if the company was unable to continue as a going concern. Given the current economic resources of the company, in addition to 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 projedion5 and forecasts were constructed using up lo date financial information and conservative realistic assumptions derived from the directors, cumulative knowledge and experience. Employees The average monthly number of employees. including directors, during the financial year was 5, {2024 - 41. 2025 Number 2024 Number Admin Employee Tanglble assets Land and Plant and Flxtures, bulldlngs maGhlnery ilttlngs and freehold equlpment Total Cost At 1 March 2024 Additions Disposals 692,876 63,446 145.521 21,487 17491 901.843 21.487 1749) At 28 February 2025 692.876 63,446 166,259 922.581 Depreclatlon At 1 March 2024 Charge for the financial year On disposals 530,516 8,695 63,446 102.729 19.449 (749) 696,691 28,144 17491 At 28 February 2025 539,211 63,446 121,429 724,086 Net book value Al 28 Febiuary 2025 153,665 44,830 198.495 At 29 February 2024 162,360 42,792 205,152 The Department of Culture, Heritage and the Gaeltacht in the Republic of Ireland holds a charge over the company land and buildings comprising the Cultural Heritge Centre al Drumakilly Road, Omagh. Co Tyrone. 12
continued Dun Uladh Limited NOTES TO THE FINANCIAL STATEMENTS for the financi81 ye8r ended 28 February 2025 Debtors 2025 2024 Other debtors Prepayments and a¢crued income 6,704 2,755 3,566 1,545 9,459 5,111 Cash and cash equlvalents 2025 2024 Cash and bank balances 170,585 159,518 Credltors Amounts falllng due wlthln one year 2025 2024 Client creditor balances Taxation and social security costs (Note 91 Other creditors Accrua15 13.941 6,859 4,790 4,322 65,500 3,000 4,000 24,800 77,612 Taxatlon and soclal securlty 2025 2024 Credltors: VAT PAYE I NI 1,332 5,527 902 3.420 6,859 4,322 10. Capltal Grants 2025 2024 Capltal grants recelved and recelvable At 1 March 2024 516,200 516,200 Amortlsatlon At 1 March 2024 Amortised in financial year 1392.499) (4,6251 1387,644) (4.855) Al 28 February 2025 1397,124) 1392.4991 Net book value At 28 February 2025 119,076 123,701 At 1 March 2024 123,701 128,556 11. Events After the End of the Reportlng Perlod There have been no signifi¢ant events affecting the company since the financial year-end. 13