Charity registration number NIC100841
Company registration number NI032966 (Northern Ireland)
AISLING GHEAR THEATRE COMPANY LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
AISLING GHEAR THEATRE COMPANY LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees Mr S Wood E McCann N McCusker S O'Muireagain Secretary Mr S Wood Charity number NIC100841 Company number NI032966 Registered office Culturlann Mcadam O'Fiaich 216 Bothar Na Bhfal Beal Feirste BT12 6AH Independent examiner Kearney & Co 2nd Floor Donegall House 98-102 Donegall Street Belfast BT1 2GW Bankers Ulster Bank 11-16 Donegall Square East Belfast BT1 5HD
AISLING GHEAR THEATRE COMPANY LIMITED
CONTENTS
| Page | |
|---|---|
| Trustees' report | 1 - 2 |
| Independent examiner's report | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 13 |
AISLING GHEAR THEATRE COMPANY LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their report and financial statements for the year ended 31 March 2024.
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 2024. 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).
Objectives
- 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.
Mission Statement ; Vision
To make live theatre in Irish popular, nationally and internationally.
To produce Irish language theatre at its’ very best.
Strategic Goals
To increase income and ensure sustainability.
To develop and engage with our audiences.
To increase the profile of the Charity.
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AISLING GHEAR THEATRE COMPANY LIMITED
TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Our programme of events and activities in the year 1st April 2023 – 31st March 2024:
Our production Minimal human Contact was nominated for 2 Irish Times Theatre Awards and won 1 award.
This show was invited to 2 prestigious arts festivals, Cúirt in Galway and Listowel Writers Week . We toured to these festivals and 2 other venues in June 2023 to sold out audiences.
We performed our site specific bi-lingual show , The Fadgies , during Féile an Phobal .
We held a rehearsed reading of Oidhreacht/Legacy anew work by Nuala Ní Néill during Belfast International Arts Festival
We produced our Christmas show, Babóg na Nollag in collaboration with Cultúrlann to over 800 children.
We completed our unique disability project The Wheelchair Monologues , filmed in Ulster Museum and achieved over 2,000 views on various social media platforms.
Achievements and Performance
Despite funding cuts and the loss of a member of staff the company maintained a continuous year of activity including one national tour and four productions.
Financial review
Structure, governance and management
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Mr S Wood
E McCann
N McCusker
S O'Muireagain
Recruitment and appointment of trustees
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
The trustees' report was approved by the Board of Trustees.
Mr S Wood
Company Secretary
16 April 2025
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AISLING GHEAR THEATRE COMPANY LIMITED
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF AISLING GHEAR THEATRE COMPANY LIMITED
I report to the trustees on my examination of the financial statements of Aisling Ghear Theatre Company Limited (the charity) for the year ended 31 March 2024.
Responsibilities and basis of report
As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
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 for any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
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1 accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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2 the financial statements do not accord with those records; or
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3 the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
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4 the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.
I draw your attention to note 1.2 in the financial statements in relation to going concern but my report my report is not modified in respect of this matter.
Kearney & Co
2nd Floor Donegall House 98-102 Donegall Street Belfast BT1 2GW
Dated: 16 April 2025
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AISLING GHEAR THEATRE COMPANY LIMITED
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 3 1,200 - Charitable activities 4 37,677 42,879 Total income 38,877 42,879 Expenditure on: Charitable activities 5 33,592 42,879 Total expenditure 33,592 42,879 Net income and movement in funds 5,285 - Reconciliation of funds: Fund balances at 1 April 2023 (3,702) 2,716 Fund balances at 31 March 2024 1,583 2,716 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 1,200 - - 80,556 24,492 129,016 81,756 24,492 129,016 76,471 27,779 117,467 76,471 27,779 117,467 5,285 (3,287) 11,549 (986) (415) (8,833) 4,299 (3,702) 2,716 |
Total 2023 £ - 153,508 153,508 145,246 145,246 8,262 (9,248) (986) |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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AISLING GHEAR THEATRE COMPANY LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
| Notes Fixed assets Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 12 Net current assets/(liabilities) Total assets less current liabilities Net assets excluding pension liability The funds of the charity Restricted income funds 14 Unrestricted funds |
2024 £ - 9,401 9,401 (5,215) |
2023 £ £ 113 582 14,423 15,005 (16,141) 4,186 4,299 4,299 2,716 1,583 4,299 |
£ 150 (1,136) (986) (986) 2,716 (3,702) (986) |
|---|---|---|---|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
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.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the trustees on 16 April 2025
Mr S Wood Company Secretary
Company registration number NI032966 (Northern Ireland)
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AISLING GHEAR THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Charity information
Aisling Ghear Theatre Company Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Culturlann Mcadam O'Fiaich, 216 Bothar Na Bhfal, Beal Feirste, BT12 6AH.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
1.4 Income
Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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AISLING GHEAR THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings 25% Reducing Balance Computers 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 recognised in the statement of financial activities.
1.7 Impairment of fixed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
1.8 Cash and cash equivalents
Cash and cash equivalents 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.
1.9 Financial instruments
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
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AISLING GHEAR THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
(Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.11 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Donations and gifts | 1,200 | - |
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AISLING GHEAR THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
4 Income from charitable activities
| Unrestricted Restricted funds funds 2024 2024 £ £ Heading #ac989 Arts Council of NI - 21,606 Future Screens - 21,273 Foras na Gaeilge 23,000 - Bank Interest Received 39 - Irish Language Broadcast Fund 604 - Other Income 14,034 - Belfast City Council - - 37,677 42,879 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 21,606 - 49,649 21,273 - 10,883 23,000 - 56,000 39 32 - 604 - 5,434 14,034 24,460 - - - 7,050 80,556 24,492 129,016 |
Total 2023 £ 49,649 10,883 56,000 32 5,434 24,460 7,050 |
|---|---|---|
| 153,508 |
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AISLING GHEAR THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
5 Expenditure on charitable activities
| Direct costs Staff costs Depreciation and impairment Production costs Artist fees Telephone Hire of equipment Donations Printing and Stationery Computer costs Staff training Travel Advertising General expenses Rent Share of support and governance costs (see note ) Governance Analysis by fund Unrestricted funds Restricted funds 6 Net movement in funds The net movement in funds is stated after charging/(crediting): Depreciation of owned tangible fixed assets |
2024 £ 40,957 37 9,002 18,983 73 504 20 38 190 480 377 24 771 900 72,356 4,115 76,471 33,592 42,879 76,471 2024 £ 37 |
2023 £ 51,258 50 6,834 71,768 1,358 1,520 110 530 993 - 3,193 1,465 - 2,350 |
|---|---|---|
| 141,429 3,817 |
||
| 145,246 | ||
| 27,779 117,467 |
||
| 145,246 | ||
| 2023 £ 50 |
7 Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
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AISLING GHEAR THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
8 Employees
The average monthly number of employees during the year was:
| 2024 | 2023 | |
|---|---|---|
| Number | Number | |
| 3 | 3 | |
| Employment costs | 2024 | 2023 |
| £ | £ | |
| Wages and salaries | 38,539 | 45,978 |
| Other pension costs | 2,418 | 5,280 |
| 40,957 | 51,258 |
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
9 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
10 Tangible fixed assets
| Tangible fixed assets | |
|---|---|
| Fixtures and fittings Computers £ £ Cost At 1 April 2023 4,281 808 At 31 March 2024 4,281 808 Depreciation and impairment At 1 April 2023 4,131 808 Depreciation charged in the year 37 - At 31 March 2024 4,168 808 Carrying amount At 31 March 2024 113 - At 31 March 2023 150 - |
Total £ 5,089 |
| 5,089 | |
| 4,939 37 |
|
| 4,976 | |
| 113 | |
| 150 |
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AISLING GHEAR THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 11 Debtors Amounts falling due within one year: Prepayments and accrued income 12 Creditors: amounts falling due within one year Other taxation and social security Trade creditors Other creditors Accruals and deferred income 13 Retirement benefit schemes Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes |
2024 £ - 2024 £ - - 3,415 1,800 5,215 2024 £ 2,418 |
2023 £ 582 |
|---|---|---|
| 2023 £ 12,287 1,059 391 2,404 |
||
| 16,141 | ||
| 2023 £ 5,280 |
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
14 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| At | 1 April | Incoming | Resources | At 31 March | At 31 March | |
|---|---|---|---|---|---|---|
| 2023 | resources | expended | 2024 | |||
| £ | £ | £ | £ | |||
| 2,716 | 42,879 | (42,879) | 2,716 | |||
| Previous year: | At | 1 April | Incoming | Resources | At 31 March | |
| 2022 | resources | expended | 2023 | |||
| £ | £ | £ | £ | |||
| (8,833) | 129,016 | (117,467) | 2,716 |
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AISLING GHEAR THEATRE COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
15 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At General funds Previous year: At General funds Analysis of net assets between funds At 31 March 2024: Tangible assets Current assets/(liabilities) At 31 March 2023: Tangible assets Current assets/(liabilities) |
1 April 2023 Incoming resources Resources expended At 31 March 2024 £ £ £ £ (3,702) 38,877 (33,592) 1,583 1 April 2022 Incoming resources Resources expended At 31 March 2023 £ £ £ £ (415) 24,492 (27,779) (3,702) Unrestricted Restricted Total funds funds 2024 2024 2024 £ £ £ 113 - 113 1,470 2,716 4,186 1,583 2,716 4,299 Unrestricted Restricted Total funds funds 2023 2023 2023 £ £ £ 150 - 150 (3,852) 2,716 (1,136) (3,702) 2,716 (986) |
|---|---|
16 Analysis of net assets between funds
17 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
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