REGISTERED COMPANY NUMBER= N1063947 (Northern Ireland) REGISTERED CHARITY NUMBER: 100898 tee naudited Financial taternen for the Year Ended l March 2 24 Gasli Acom an t Media Trust Limited b Guarantee
Gasli ht Media Trust Contents of the Financial Statements for the Year Ended 31 March 2024 Page Reference and Administralive Details Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Not¢s to the Financial Statements 10 10 14 Detailed Statement of Financial Activities 15
Gasli ht Media Trust Reference and Administrative Details for the Year Ended 31 March 2024 TRUSTEES Rose Kelly Diane Elizabeth Greer Betty Doherty Ronan Moyne COMPAIYY SECRETARY Betty Doherty REGISTERED OFFICE I Westend Park Derry Co. D¢rry BT48 9JF REGISTERED COMPANY NUMBER N1063947 (Northern Ireland) REGISTERED CHARITY NUMBER 100898 INDEPENDENT EXAMINER Shaun McAteer & Co. Ltd 5 Northland Road, Derry BT48 7HX Page I
Gasli ht Media Trust ort of the Trustees for the Year Ended 31 March 2024 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the flnancial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by CharAtAes: 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 l January 2019). INCORPORATION The charitable company was in¢oTporated on 20 Mar¢h 2007 and commenced trading on the same date. OBJECTIVES AND ACTIVITIES Objectives and aims The Company's principal activities are concerned with the advancement of education of the public by (o) thc co-ordination ond dcvclopmcnt of thc usc of film and any othcr form of audio-visual communication for the purpose of educalion and research and in particular to promote: (i) the production and broadcast of films and documentaries thal advance the knowledge and understanding differenl Cultures, traditions, beliefs and political, social and econornic developments wiihin the island of Ireland. (li) the collection and dissemination of educational material: (b) helping or co-operating with other educational institutions. centres, agencies or bodies. Page 2
Gasli ht Media Trust ort of the Trustees for the Year Ended 31 March 2024 ACHIEVEMENT AND PERFORMANCE As reported last year, after the death of our project manager in November 2022. Jim Keys initially stepped in on a voluntary basis to pick up the pieces of the current project- 'Epilogues: The Human Face of Conflicl,. Ther¢afier. in ¢onsultation with our funders, he took oli the mai)agemeiil of the project from Apri12023 with a new complfjtion date of 316t March 2024. 'Epilogues'. The I luman Face of Conflicv comprises twelve epilogues deliverics in residential settings. a follow up workshop and thereafter gatherings of graduates from each of the previous four deliveries. With five of the twelve deliveries to complete. delivery eight took place in June 2023. However the prep work involved in setting up delivery nine was lost when the host organisation cancelled at the last minute. proved extremely difficult to find and prep a new group and secure new hotel dates that suited. ThAs meanl tliat delivery nine only took place in November 2023. Given this combination of the difficulties listed below, apparent by November 2023: idcntifying and prcpping additional groups in arcLs that both expanded ihe geographical spread of the project, and yel fulfilled the funding criteria of a balanced PULICNR group makeup in ihe current climate, and hotel availability that suited the group Jim flagged up the need for a further extension wilh the funders - The Joseph Rowntree Chariiable (JRCD and the Irish Government's Departmeni of Foreign Affairs - Reconciliation Fund - and secured an additional £6,000. This was agreed and (he projecl was extended to August 2024. Delivery ten took place in this funding period on a weekly basis from January through to March 2024. Subsequently, delivery eleven took place in April 2024 and delivery twelve in May 2024. Finally. a gaihering of participants from all twelve deliveries took place in June 2024 and the project compleled in Augusi 2024. At the date of writing this report no projects are ongoin& however, should any opportunities arise in the future the Charity will take these on if relevant funding is available. Page 3
Gasli ht Media Trust ort of the Trustees for the Year Ended 31 March 2024 FINANCIAL REVIEW The Statement of Financial Activities. on page 15 indicates that Gaslight Media Trust had incoming resources of £35,974 in the year. This relates to deferred income released in respect of the two inain funders The Joseph Rowntree Charitable Tn]st (JRCT) and the Irish Government's Department of Foreign Affairs Rcconciliation fund {DfA). The JRCT funding consisted of £189,220 to be paid quartcrly ovcr three years from laniiary ?O?n to siipply twelve epilogiics programmesldeliveries At date of writing thi8 report all of these progriimmes h¢ive been delivered by AugusL 2024. Tli¢ DFA fuiidiiig of £23640 (E28805) was received in August 2022 which was in addition to funding of £18092 (E22000) received in January 2020 to help with the delivery of these programmes. All of this funding has now been spent. There is now a total of £34.331.67 of Deferred Income left on the Balance Sheel and this will be released io Cover the expenditure needed to complete the deliveries up to August 2024. The total expenditure for the year was £58,052. There was an overall deficit for the year of £22,078 arising from programmes scheduled in 2023 but not delivered until 2024 re funding received in 2023. This all I'elated to Reslricted funds and was taken off the reslricted reserves balancc brought forward at 31 March 2023 of £43,230 - leaving a balance in restricted reserves of 21,152 at 31 March 2024. Risk Management The Management Committee have assessed the major risks to which the charity is exposcd, in particular those related to the operations and finances of the Charity, and are salisfied that systems are in place to miligate the exposure to the major risks. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing documenl, a deed of trust. and constitutes a limited company. limited by guarantee, as defined by the Companies Act 2006. Recruitment and appointment of new trustees There are currently 4 members on the Management Committee and there have been no new appointments or resignations over the year. Organisatlon Day to day running of the company is being managed by Jim Keys who was appointed Project Manager in April 2023. Operational management of the project is delegated to an Operational Sub4ommittee which is accountable to the Board of Directors. The sub committee comprises of the project manager and a company director. It meels mostly in person or on Zoom to monitor progress and strategise next steps regularly. Induetion and Iraining of Dew trustees New members undergo an orientation day to brief them on: their legal obligations under charity and company law, the charity comrnission guidance on public benefit, and inform them of the content of the Memorandum and Articles of Association, the committee and decision-making processes, the business plan and recent financial perforniance of the charity. During the induction day they meet key employees and other members. Members are encouraged io attend appropriate external training events where these will facilitat¢ the undertaking of the role. Related parties None of the members receive remuneration or other benefit from their work with the charity. Any conneclion between a member or senior manager of the charity Wlth a contracted supplier must be disclosed to the full Management Committee in the same way as any other contractual relationship with a related party. In the current year no such related party transactions were reported Page 4
Gasli ht Media Trust ort of the Trustees for the Year Ended 31 March 2024 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of Gaslight Media Trust for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial stalements in accordance with applicable law and United Kingdom A¢¢ounting Standards (United Kiiigdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for 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 select suitable accounting policies and then apply them consistently" observe the methods and principles in the Charity SORP: Inake j udgeineiits and estimates that are reasonable and prudeni: 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 fjnancial slatements Comply with ihe Companies A¢t 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. In so far as the Trusiees are aware: there is no relevanl information of which the charitable company's independent examiner is unaware. and - the Management Committee have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiner is aware of that information. Approved by order of ihe board of trustees on .... kno0M.s..,.14and signed on its behalf by.. Ronan Moyne - rus Page 5
Inde endent Examinerfs Re ort to the Trustees of Gasli ht Media Trust I report on the accounts of the. company for the year ended 3 l March 2024. which are set out on page.4 seven to fourteen. Respective responsibilities of charity trustees and examiner As the charily's trustees (and also the directors 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- examine the accoiints linde.r ser.lion 6$ of the C,harities Act follow ihe procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act state whether particular matters have come to my attention. Basis of the independent examiner's report I have examined your charity accounls as required under Section 65 of the Charities Act and my examination was carried oul 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 accountftng record8 kept by the ¢hariiy and a comparison of the accounts presenled with those e0rds. 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 stale whether any material matters have come to my attention giving me cause to believe.. That accounting records were not kept in accordance with Section 386 of the Companies Act 2006 That the accounts do not accord with those accounting records That the accounts do nol 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 Siandard applicable in the UK and Republic of Ireland That there is further inforniation needed for a proper underslanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respecl of the matters (l) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that requir¢ drawing to your allention. Niall McAteer 'I'he Institute of Lhartered Accountants in Ireland Shaun McAteer & Co. Ltd 5 Northland Road, Derry BT48 7HX . Osftfty. B1 Date: LO314 Page 6
Gasli ht Media Trust Statement of Financial Activities oratin an Income and Ex enditure Account for the Year Ended 31 March 2024 Inco 31.3.24 Total funds 31.3.23 Totsl funds Unrestricted Restricted fund fund Notes INCOME FROM Grants 35,974 35,974 48,518 EXPENDITURE ON Other 58,052 58,052 68,798 NET INCOMEI(EXPENDITURE) (22,078) (22,078) (20,280) RECONCILIATION OF FUNDS Total funds brought forward (9,728) 43,230 33,502 53,782 TOTAL FUNDS CARRIED FORWARD (9,728) 21,152 11.424 33,502 The notes forni part of these financial statements Page 7
Gasli ht Media Trust Balance Sheet 31 March 2024 31.3.24 Totsl funds 31.3.23 Total funds Unrestricted Restricted fund fund Notes I IXED ASSETS Tangible assets 2,lSQ CURRENT ASSETS Debtors Cash at bank 6.000 54,345 6,000 56,617 2,272 119,130 2,272 60.345 62,617 119,130 CREDITORS Amounts falling due within one year (12,000) (7.020) (19,020) (21,323) NET CURRENT ASSETSI(LIABILITIES) (9,728) 53,325 43,597 97,807 TOTAL ASSETS LESS CURRENT LIABILITIES (9,728) 55,484 45,756 97.807 ACCRUALS AND DEFERRED INCOME (34,332) (34,332) (64,305) NET ASSETS (9,728) 21,152 1,424 33,502 FUNDS Unrestricted funds Restricted funds 10 (9.728) 21,152 (9.728) 43,230 TOTAL FUNDS 1.424 33,502 The charitable company is entitled to exempiion from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. The members have not required the company lo obtain an audit of its fjnancial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006. The notes forni part of these financial statements Page 8 continued...
Gasli ht Media Trust Balance Sheet- continued 31 March 2024 The trustee5 acknowledge their responsibilities for (a) ensuring that the charitable company keeps accounting records that comply wilh Sections 386 and 387 of the Companies Act 2006 and (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of ils surplus or deficit for each financial year in accordance with the requirement5 of Sections 394 and 395 and which otherwise comply with the reqLiire.ments of the Compani¢s Act 2006 relating to financial statcrnents, so far as applicable to Ihe charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 3Q...tr.i..aAIA.If ... and were signed on its behalf by: Betty Dohe - Trustee Ronan Moyne - T ee The notes forni part of these financial statements Page 9
Gasli ht Media Trust Notes to the Financial Statements for the Year Ended 31 March 2024 ACCOUNTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance ivith th¢ Financial Reporting Standard applicable in th¢ UK and Republic of Ireland (FRS 102) (effective l January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, 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 accounted for on an accruals basis and has been classified under headings ihat aggregate all cosl related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activilies on a basis consistent with the use of resources. Tangible fixed assets Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Computer equipment 200/0 on reducing balance Taxation The charity is exempt from corporation tax on its charitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of ihe charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Grants of a revenue nalure are credited to income in the period to which they relate. If received in advance of delivering the goods and services required by the Fund¢r. or is subject to other conditions wholly outside the control of the recipient, Charity income should not be recognised and should be accounted for as a liability and shown on the balance sheet as deferred income. Page 10 continued.
Gasli ht Media Trust Notes to the Financial .Statements - continued for the Year Ended 31 March 2024 NET INCOMEI(EXPENDXTURE) Net incomel(expenditure) is stated after charginW(crediting): 31.3.24 31.3.23 t)e.pre¢iation - owned assets 540 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023. Trustees, expenses There were no tTusiees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023. STAFF COSTS The average monthly number of employees during the year was as follows: 31.3.24 31.3.23 Full Time TANGIBLE FIXED ASSETS Computer equipment COST Additions 2,699 DEPRECIATION Charge for year 540 NET BOOK VALUE At 31 March 2024 2.159 At 31 March 2023 Page 11 continued...
Gasli ht Media Trust Notes to the Financial Statements - continucd for the Year Ended 31 March 2024 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade debtors 6,000 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Other loans (see note 8) Trade creditors Accrued expenses 12,000 5,340 1.680 12,000 5,927 3.396 19,020 21,323 LOANS An analysis of the maturity of loans is given below: Amounts falling due wiihin one year on demand: Other loans 12,000 12,000 ACCRUALS AND DEFERRED INCOME 31.3.24 31.3.23 Accruals and deferred income 34,332 64.305 10. MOVEMENT IN FUNDS Net movement in funds At 31.3.24 At 1.4.23 Unrestricted funds General fund (9.728) (9,728) Restricted funds Restricted Fund 43.230 (22.078) 21,152 TOTAL FUNDS 33.502 (22,078) 1,424 Page 12 continued...
Gasli ht Media Trust Notes to the financial Statements - continued for the Year Ended 31 March 2024 io. MOVEMEIYT IN FUIYDS- Continued Net movement in funds. included in Ihe above are as follows: Incoming Resources Movement resources exp¢nd¢d in funds Restricted funds Restricted Fund 35,974 (58,052) (22.078) TOTAL FUNDS 35,974 (58,052) (22,078) Comparatives for movement in funds Net movement in funds At 31.3.23 At 1.4.22 Unrestricted fund$ General fund (10,001) 273 (9,728) Restricied funds Restricled Fund 63,783 (20,553) 43,230 TOTAL FUNDS 53,782 (20,280) 33,502 Comparative net movement in funds included in the above are as follows: Incoming Resources Movement resources expended in funds Unrestricted funds General fund 273 273 Restrieted funds Restricted Fund 48.518 (69.071) (20,553) TOTAL FUNDS 48,518 (68.798) (20,280) Page 13 continued..
Gasli ht Media Trust Notes to the Financial Statements - continued for the Year Ended 31 March 2024 io. MOVEMENT IN FUNDS - continued A current year 12 months and prior year 12 months combined position is as follows: Net movement in funds At 31.3.24 At 1.4.22 Unrestricted funds General fund (10,001) 273 (9.728) Restricted funds Restricted Fund 63,783 (42.631) 21,152 TOTAL fuNDS 53,782 (42,358) 11,424 A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows: Incoming Resources Movement resources expended in funds Unrejtrieted funds General fund 273 273 Restricted funds Restricled Fund 84,492 (127,123) (42,631) TOTAL FUNDS 84.492 (126,850) (42,358) I I. RELATED PARTY DISCLOSURES There were no related party transactions for the year ended 31 March 2024. Page 14
Gasli ht Media Trust Detailed Statement of Financial Activities for the Year Ended 31 March 2024 31.3.24 Totsl funds 31.3.23 Total funds Unrestricted Restricted funds funds INCOME Grants The Joseph Rownlree Charitable Trust Department of Foreign Affairs: Reconciliation Fund 29,333 29,333 31.520 6,641 6.641 16,998 35.974 35,974 48.518 Total incoming resourees 35,974 35,974 48,518 EXPENDITURE Other Wages Pensions Light and heat Telephone Sundries Computer costs Aeeountancy fees Staff travel Project ¢05ts Office expenses Rent Computer equipinent 21,026 .221 877 1,188 335 953 335 953 2,437 1,596 2,437 1.596 1,293 1,896 1,415 37,547 1,034 1,300 46,061 3,730 2,400 540 46,061 3.730 2.400 540 58,052 58,052 68,798 Total resources expended 58,052 58.052 68,798 Net (expendAture)lin¢ome (22,078) (22,078) (20,280) This page does not fomi part of the statutory financial statements Page 15