Charity Registration No. NIC100841 (Northern Ireland) Company Registration No. NI032966
AISLING GHEAR THEATRE COMPANY LIMITED (A COMPANY LIMITED BY GUARANTEE)
TRUSTEES’ REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
AISLING GHEAR THEATRE COMPANY LIMITED
CHARITY INFORMATION
Trustees Simon Wood Emma McCann Nuala McCusker Sean O’Muireagain Orla Fitzsimons (Resigned 30 September 2023) Secretary Simon Wood Charity number NIC100841 Principal office Aisling Ghear Theatre Company Limited Culturlann Mcadam O'Fiaich 216 Bothar Na Bhfal Beal Feirste BT12 6AH Independent examiner Mr Paul McAreavey FCA PGM Chartered Accountants 405 Lisburn Road Belfast BT9 7EW Bankers Ulster Bank 11-16 Donegall Square East Belfast BT1 5HD
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AISLING GHEAR THEATRE COMPANY LIMITED
| CONTENTS | |
|---|---|
| Page | |
| Trustees’ report | 4 - 5 |
| Independent examiners’ report | 6 |
| Statement of financial activities | 7 |
| Balance sheet | 8 |
| Notes to the financial statements | 9-13 |
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AISLING GHEAR THEATRE COMPANY LIMITED TRUSTEES’ REPORT FOR THE YEAR ENDED 31 MARCH 2023
The Trustees present their report and financial statements for the year ended 31 March 2023.
Structure, Governance and Management
The trustees (who are also directors of the charity for the purposes of the Companies Act 2006), present their report with the financial statements of the charity for the year ended 31 March 2023. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
Mission & Vision
To make live theatre in Irish popular, nationally and internationally. To produce Irish language theatre at its’ very best.
Achievements and Performance
The Charity had a positive movement in funds during the year ended 31 March 2023 of £8,264 (2022 – net outflow of £15,105).
Strategic Goals
To increase income and ensure sustainability. To develop and engage with our audiences. To increase the profile of the Charity.
Objectives
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Search and build on collaborative audience development initiatives to engage our audiences.
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Promote inter-cultural dialogue in order to increase our audiences.
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Develop partnerships with companies’ and organisations to deliver joint programmes.
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Promote awareness of the charity locally, nationally and internationally.
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Establish relationships with international networking groups and promoters.
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Search and build on opportunities to work in Partnership with international companies and organisations.
Significant Activities in the 2022/23 year
Our programme of events and activities in the year 1st April 2022 – 31st March 2023:
We delivered our debut performance at the prestigious Dublin Fringe Festival, win an Irish Times Theatre Award and have a radio drama commissioned and broadcast on BBC Radio Ulster. Alongside that was a Christmas Show for almost 1,000 children at the Cultúrlann McAdam Ó Fiaich and the final launch of our unique disability project The Wheelchair Monologues, in 4 parts and filmed in the Ulster Museum, on all our social media platforms with 2,718 views.
Minimal Human Contact
Minimal Human Contact was a new one-man show, and a true story, that premiered at Dublin Fringe Festival in Sept 2022. It was written by award winning rapper from KNEECAP - Naoise Ó Cairealláin. ‘A gutsy, raw, rollercoaster ride though one night in the life of a compulsive gambler told as Gaeilge’. The show went on to have a very successful tour of Ireland in Feb 2023
“…..packs a lot of punch, metaphorically and literally, with Seán T Ó Meallaigh in brilliant form, even cracking the accent of the Belfast Westie” - Irish News.
“…….it barrels along at a breakneck pace. It is engaging and enlightening and surprisingly cathartic. It is the perfect marriage of writer and actor. A wonderful piece.” No More Workshorse -Dublin review
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AISLING GHEAR THEATRE COMPANY LIMITED TRUSTEES’ REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
An Eachtra/The Incident
This was our first foray into radio drama with a classic whodunit, written by Nuala Ní Neill. Four friends embark on a weekend adventure to a desolate island to celebrate their graduation; tragic events happen and 5 years later they meet again but the repercussions have impacted their entire lives in multifarious and heartbreaking ways. Broadcast Sept 2022. Listenership figures: 1,100.
‘Luaithríona/Cindrella’
Aisling Ghéar’s quirky take on the classic story, written by Seán Ó Muireagain. It tells of the handsome prince who fell for the Mum-in-law and the sisters who bonded together and made a stand for girl power! It ran for 8 packed shows with a delighted and noisy audience who thoroughly enjoyed themselves!
We were successful in attracting £60,000 over the next 3 years, from the Dept of Communities’ Artwork Programme to hire a new member of staff. Ciaran Ó Doherty joined us as a Trainee Business Development and Marketing Officer in Feb 2023 and has been a real asset to the charity from the beginning, we look forward to working with him over the next few years.
Our principle funder Foras na Gaeilge, generously funded the second tour of Minimal Human Contact in Feb 2023 and also provided further funding to develop a new Strategic Plan 2024 – 2027 and to conduct a Governance Review for the charity.
STATEMENT OF TRUSTEES RESPONSIBILTIES
The trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) Company law requires the trustees to prepare financial statements of each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing those financial statements, the trustees are required to
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Select suitable accounting policies and then apply them consistently
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Make judgements and estimates that are reasonable and prudent
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Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the board of trustees on 18 January 2024 and signed on its behalf by
Simon Wood Trustee
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AISLING GHEAR THEATRE COMPANY LIMITED INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF AISLING GHEAR THEATRE COMPANY LIMITED
I report on the financial statements of Aisling Ghear Theatre Company Limited for the year ended 31 March 2023 set out on pages 7 to 13.
Respective responsibilities of Trustees and Examiner
As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to:
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examine the accounts under section 65 of the Charities Act
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follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act
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state whether particular matters have come to my attention.
Basis of independent examiners’ report
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe:
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That accounting records were not kept in accordance with section 386 of the Companies Act 2006
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That the accounts do not accord with those accounting records
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That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
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That there is further information needed for a proper understanding of the accounts to be reached.
Independent examiner’s statement
I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland. I draw your attention to note 1.2 in the financial statements in relation to going concern but my report is not modified in respect of this matter.
Paul McAreavey FCA PGM Chartered Accountants 405 Lisburn Road Belfast BT9 7EW Date: 31/01/24
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AISLING GHEAR THEATRE COMPANY LIMITED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2023
______________
| Unrestricted | Restricted | 2023 | 2022 | ||
|---|---|---|---|---|---|
| Funds | Funds | ||||
| Total | Total | ||||
| Notes | £ | £ | £ | £ | |
| Incoming and endowments | |||||
| from: | |||||
| Grants | - | 129,016 | 129,016 | 101,829 | |
| Charitable activities | 24,494 | - | 24,494 | 2,800 | |
| ------------ | ------------ | ------------ | ------------ | ||
| Total | 2 | 24,494 | 129,016 | 153,510 | 104,629 |
| ------------ | ------------ | ------------ | ------------ | ||
| Resources expended | |||||
| Charitable activities | 26,362 | 115,067 | 141,429 | 115,731 | |
| Governance costs | 1,417 | 2,400 | 3,817 | 4,003 | |
| ------------ | ------------ | ------------ | ------------ | ||
| Total | 2 | 27,779 | 117,467 | 145,246 | 119,734 |
| ------------ | ------------ | ------------ | ------------ | ||
| Net income / (expenditure) | (3,285) | 11,549 | 8,264 | (15,105) | |
| Transfers between funds | - | - | - | - | |
| ------------ | ------------ | ------------ | ------------ | ||
| Net movement in funds | (3,285) | 11,549 | 8,264 | (15,105) | |
| Total funds brought forward at 1 April 2022 |
(417) | (8,833) | (9,250) | 5,855 | |
| ------------ | ------------ | ------------ | ------------ | ||
| Total funds carried forward at 31 March 2023 |
5 | (3,702) | 2,716 | (986) | (9,250) |
| ======== | ======== | ======== | ======== |
The statement of financial activities has been prepared on the basis that all operations are continuing operations.
There are no recognised gains or losses other than those passing through the statement of financial activities.
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AISLING GHEAR THEATRE COMPANY LIMITED BALANCE SHEET AS AT 31 MARCH 2023
| ______________ | ______________ | ______________ | ______________ | ______________ | ______________ |
|---|---|---|---|---|---|
| 2023 | 2022 | ||||
| Notes | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible assets | 3 | 150 | 199 | ||
| Current assets | |||||
| Cash at bank and in hand | 14,423 | 6,018 | |||
| Prepayments | 582 | - | |||
| ------------- | ------------- | ||||
| 15,005 | 6,018 | ||||
| Creditors: amounts falling | |||||
| due | |||||
| within one year | 4 | (16,141) | (15,467) | ||
| ------------- | ------------- | ||||
| Net current assets/(liabilities) | (1,136) | (9,449) | |||
| ------------- | ------------ | ||||
| Total assets less current | |||||
| liabilities | (986) | (9,250) | |||
| ------------- | ------------ | ||||
| Net assets/(liabilities) | (986) | (9,250) | |||
| ======== | ======== | ||||
| Funds | 5 | ||||
| Unrestricted funds | (3,702) | (417) | |||
| Restricted funds | 2,716 | (8,833) | |||
| ------------- | ------------ | ||||
| Total funds | (986) | (9,250) | |||
| ======== | ======== |
These financial statements have been prepared in accordance with the provisions applicable to small companies, subject to the small companies regime and in accordance with FRS102 SORP.
For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act, with respect to accounting records and the preparation of accounts.
Approved by the Board and authorised for issue on 18 January 2024 and signed on its behalf by
Simon Wood Trustee Company Registration No. NI032966
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AISLING GHEAR THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
1. Accounting policies
1.1 Basis of Preparation
The financial statements have been prepared under the historical cost convention. The accounts (financial statements) have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019 and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act (Northern Ireland) 2008.
1.2 Going concern
Aisling Ghear Theatre Company Limited is showing a net liabilities position as of the balance sheet date and is reliant on adequate government, and other funding in the form of grants to continue trading. The Trustees have secured additional funding to cover the deficits and provide funding going forward and have no reason to believe that this funding will not continue for the foreseeable future and for at least twelve months from the date of signing the financial statements. The Trustees are content that the accounts should be prepared on the going concern basis.
1.3 Government Grants
Government grants are recognised at the fair value of the asset received or receivable when there is a reasonable assurance that the grant conditions will be met, and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.4 Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5 Financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
1.6 Incoming resources
All incoming resources are included in the statement of financial activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy.
1.7 Resources expended
Resources expended are classified according to their function.
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category.
1.8 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity which have not been designated for other purposes. Restricted funds are restricted grants and donations received from funding bodies and the related expenditure. Such funds are restricted in their use as determined by each individual funding body.
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AISLING GHEAR THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
1.9 Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Fixtures & fittings 25% Reducing Balance Computer 25% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is credited or charged to surplus or deficit.
1.10 Foreign currency translation
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate of exchange at the balance sheet date. All differences are taken to the profit and loss account.
1.11 Taxation
The company is exempt from corporation tax, it being a charity not carrying on a business for the purposes of making a profit.
1.12 Cash flow statement
The Charities SORP 2019 recommends that cash flow statements should be prepared for charitable entities, however the UK accounting guidelines also allow for smaller entities to elect not to produce cash flow statements. Aisling Ghear Theatre Company Limited meets the definition of a small entity in terms of the UK accounting standards and the SORP 2019. The trustees have elected not to prepare cash flow statements in terms of the provisions allowed to smaller entities.
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AISLING GHEAR THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
2. Total resources
| Unrestricted | Restricted | 2023 | 2022 | ||
|---|---|---|---|---|---|
| Funds | Funds | ||||
| Total | Total | ||||
| Incoming resources | Notes | £ | £ | £ | £ |
| Foras na Gaeilge | - | 56,000 | 56,000 | 27,500 | |
| Arts Council of Northern Ireland | - | 49,649 | 49,649 | 64,139 | |
| Belfast City Council | - | 7,050 | 7,050 | - | |
| Artistic production income | 23,646 | - | 23,646 | 10,190 | |
| Future Screens | - | 10,883 | 10,883 | - | |
| Bank Interest Received | 32 | - | 32 | - | |
| Irish Language Broadcast Fund | - | 5,434 | 5,434 | - | |
| Sundry income | 816 | - | 816 | 2,800 | |
| ------------ | ------------ | ------------ | ------------ | ||
| 24,494 | 129,016 | 153,510 | 104,629 | ||
| ======== | ======== | ======== | ======== | ||
| Resources expended | |||||
| Charitable activities | |||||
| Wages and salaries | - | 45,978 | 45,978 | 49,969 | |
| Pension costs | - | 5,280 | 5,280 | 5,280 | |
| Depreciation | 50 | - | 50 | 67 | |
| Production fees | 6,835 | - | 6,835 | 10,062 | |
| Artist fees | 11,829 | 59,939 | 71,768 | 37,644 | |
| Rent expense | - | 2,350 | 2,350 | 8,700 | |
| Advertising | 1,465 | - | 1,465 | 1,491 | |
| Computer bureau costs | 993 | - | 993 | 501 | |
| Hire of equipment | - | 1,520 | 1,520 | - | |
| Travelling expenses | 3,193 | - | 3,193 | 395 | |
| Telecommunications | 1,358 | - | 1,358 | 1,171 | |
| Printing and stationery | 529 | - | 529 | 451 | |
| Charitable Donations | 110 | - | 110 | - | |
| Governance costs | |||||
| Premises insurance | 817 | - | 817 | 2,029 | |
| Accountancy | - | 2,400 | 2,400 | 1,425 | |
| Bank charges | 600 | - | 600 | 545 | |
| Profit or loss on foreign | - | - | - | 4 | |
| exchange | |||||
| ------------ | ------------ | ------------ | ------------ | ||
| 27,779 | 117,467 | 145,246 | 119,734 | ||
| ======== | ======== | ======== | ======== |
The management and administration expenses have been apportioned between each charitable activity on the same basis as the expenditure incurred directly in undertaking that activity.
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AISLING GHEAR THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
3. Tangible fixed assets
| Computers | Fixtures & | Total | |
|---|---|---|---|
| Fittings | |||
| £ | £ | £ | |
| Cost or valuation | |||
| At 1 April 2022 | 808 | 4,281 | 5,089 |
| Additions | - | - | - |
| ----------- | ----------- | ----------- | |
| At 31 March 2023 | 808 | 4,281 | 5,089 |
| ----------- | ----------- | ----------- | |
| Depreciation | |||
| At 1 April 2022 | 808 | 4,081 | 4,889 |
| Charge for the year | - | 50 | 50 |
| ---------- | ----------- | ----------- | |
| At 31 March 2023 | 808 | 4,131 | 4,939 |
| ----------- | ----------- | ----------- | |
| Net book value | |||
| At 31 March 2023 | - | 150 | 150 |
| ====== | ======= | ======= | |
| At 31 March 2022 | - | 199 | 199 |
| ====== | ======= | ======= |
4. Creditors: amounts falling due within one year
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Trade creditors | 1,450 | 1,264 |
| Accruals | 14,691 | 14,203 |
| -------------- | -------------- | |
| 16,141 | 15,467 | |
| ======== | ======== |
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AISLING GHEAR THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023
5. Analysis of net assets between funds
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| Fund | Fund | Funds | |
| £ | £ | £ | |
| Fixed assets | 150 | - | 150 |
| Current assets | 15,005 | - | 15,005 |
| Current liabilities | (12,439) | (3,702) | (16,141) |
| -------------- | -------------- | ------------- | |
| 2,716 | (3,702) | (986) | |
| ======== | ======== | ======== |
6. Trustees’ remuneration
The Trustees received nil remuneration during the year ending March 2023 (2022 - £nil).
7. Trustees’ reimbursed expenses
The Trustees received nil expenses during the year ending March 2023 (2022 - £nil).
8. Employees
The average number of employees during the year ending March 2023 was 2 (2022: 2).
| 2023 | 2022 | |
|---|---|---|
| £ | £ | |
| Gross wages and salaries | 45,978 | 49,647 |
| Employer national insurance costs | - | 322 |
| -------------- | -------------- | |
| 45,978 | 49,969 | |
| ======== | ======== |
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