COMPANY REGISTRATION NUMBER: N1043631
CHARITY REGISTRATION NUMBER: NIC100986
Ulster-scots Community Network
Company Limited by Guarantee
Financial Statements
31 March 2023
AUBREY CAMPBELL & COMPANY
Chartered accountants & statutory auditor
631 Lisburn Road
Belfast
BT9 7GT

Ulster-scots Community Network
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2023
Page
Directors, annual report (incorporating the director's report)
Independent auditor's report to the members
10
Statement of financial activities (including income and
expenditure account)
16
Statement of financial position
17
Notes to the financial statements
19
The following pages do not form part of the financial statements
Detailed statement of financial activities
32
Notes to the detailed statement of financial activities
34

Ulster-scots Community Network
Company Limited by Guarantee
Directors, Annual Report (Incorporating the Director's Report)
Year ended 31 March 2023
The directors, who are also the directors for the purposes of company law, present their report and the
financial statements of the charity for the year ended 31 March 2023.
Reference and administrative details
Registered charity name
Ulster-scots Community Network
Charity registration number
NIC100986
Company registration number N1043631
Principal office and registered Corn Exchange
office
1-9 Victoria Street
Belfast
BT13GA
The directors
Mrs. E. Cameron
Mrs. L. Mulholland
Mrs. A. Smyth
Mr. N. Mccausland
Mr. G. Campbell
Mrs. C. Evans
Mr. W. Carlile
Mr M. Smyth
{Appointed 6 April 2022)
Company secretary
Mr D Gilliland
Auditor
Aubrey Campbell & Company
Chartered accountants & statutory auditor
631 Lisburn Road
Belfast
BT9 7GT

Ulster-scots Community Network
Company Limited by Guarantee
Directors. Annual Report (Incorporating the Director's Report) fcontlnued)
Year ended 31 March 2023
Structure. governance and management
Management
The Ulster-scots Community Network (USCN) is overseen by a Board of Directors who are
responsible for setting the strategic direction of the organisation, with the day to day management
undertaken by the Operations Director who also implements all necessary policies as agreed by the
Board.
The Operations Director is responsible for ensuring that the organisation delivers on agreed tsrgets
and objectives. He is also responsible for the supervision of the staff team.
Public Benefit Statement
The Irustees confirm that they have had due regard for the guidance produced on public benefit by Ihe
Charity Commission for Northern Ireland and are pleased to report that during the period the
charitable company has continued to provide public benefits through the programmes and services we
offer.
Current Structure and Staffing
Chairman
Board of Directors
Operations Director
Education Development Officer
Publications Officer
Community Development Officer
Community Development Officer
Community Development Officer
Community Development Officer {vacant)
Corporate Governance
The Ulster-scots Community Network is committed to high standards of corporate governance.
Although the organisation does not have shareholders, the staff and Board have a responsibility to
provide clear evidence of a transparent and efFicient organisation to its stakeholders who include the
Ulster-scots community, funding bodies and government.

Ulster-scots Community Network
Company Limited by Guarantee
Directors, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Structure, governance and management (continued)
The Board of Directors
As detailed in the USCN Articles and Memorandum of Association, the Board directs the
organisation's strategic planning, financial management and operalional issues. The Board meets, on
average, 7 times a year with a full General Meeting to be held at least once every 15 months.
The Chairman leads the Board and the Operations Director leads the management of the
organisation. The Chairman's responsibilities include setting the Board Agenda and with the
Operations Director, is responsible for Ihe distribution of accurate, limely and clear information
pertaining to the activities of the organisation.
The diversity of interest groups from within the wider Ulster-scots sector, represented by the Board is
seen as a key strength of the organisation. The Operations Director attends Board meetings as a
linkage between the staff of the organisation and the Board. The Operations Director plays a full role
at Board Meetings but does not have voting rights at such meetings.
The USCN Board are responsible for scrutinising the performance of the management in order to be
satisfied as to the integrity and strenglh of financial information controls and risk management of the
organisation.
Internal Controls
The Directors (Trustees) are responsible for the organisation's systems of internal control which are
designed to provide reasonable assurance to safeguard the organisation's assets against
unauthorised use or disposition and the maintenance of proper accounting records and the reliability
of financial information used within the organisalion.
The Ulster-S¢ots Community Nelwork recognises that effective corporate governance remains key to
maintaining a strong organisational ethos in which the Ulster-scots community, Government and
funders can be confident. Policies and controls are reviewed regularly by relevant personnel and
actions to address non-confonnance are undertaken without delay.
The financial procedures of the organisation are specifically governed by a Financial Procedures
Policy and the Procurement Policy.
A management accounting system is in place providing management with financial and operational
performance measurement indicators. Detailed account summaries are prepared monthly and
combined with up to date banking records, are regularly presented to the USCN Board in clear and
concise formats.

Ulster-scots Community Network
Company Limited by Guarantee
Directors, Annual Report (Incorporating the Director's Report) (contlnued)
Year ended 31 March 2023
Objectives and activlties
Objectives
The Ulster-scots Community Network (USCN) was established in 1995 to promote awareness and
understanding of the Ulster-scots tradition in language. literature, music and dance as well as the
contribution of the Ulster-scots community to the development of life in Northern Ireland, the border
counties of the Republic of Ireland and the Ulster-scots diaspora.
As a representative body of many Ulster-scots with around 650 member groups, the USCN is
committed to a comprehensive exploration of the interaction between Ulster and Scotland, which has
been a constant factor in the history of the British Isles.
The Ulster-scots Community Network aims to preserve, promote and develop Ulster-scots heritage
and culture in all its forms and to make a constructive and progressive contribution to delivering a fully
inclusive society in which mutual understanding and tolerance are accepted as the norm - a society at
peace with itself. We seek to work to develop a culturally confident and creative community capable of
playing a key role in our society in future.
We aim to achieve this by: _
Providing an umbrella organisation for all interest groups engaging in Ulster-scots activities
language, culture and history-
Increasing Capacity and building relevant skills with the Ulster-scots community;
Promoting Ulster-scots activities and aiming to increase community confidence-
Acting as a focal point for dissemination of information concerning Ulster-scots.,
Developing Ulster-scots culture and heritage throughout the education and tourism sectors and
throughout the wider community.
Strategic report
The following sections for achievements and performance and financial review form the slrategic
report of the charity.

Ulster-scots Community Network
Company Limited by Guarantee
Directors, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Achievements and performance
Membership and Member Groups
The USCN has continued to support our core member organisations. The Network ¢urrenlly 5UPPOrts
approximately 650 registered groups throughout Northern Ireland, the border counties of the Republic
of Ireland and the wider Ulster-scots diaspora. These groups include Ulster-scots cultural groups,
marching bands, local history societies, education groups. churches, and schools amongst others.
Activities, Publications and Events during 2022 and into 2023
Based in the Discover Ulster-scots Centre within the historic Corn Exchange building in Belfast are
the Ulster-scots Community Network's office. The Ne￿Ork also manages the visitors centre,
performance space and shop unit there. This space provides a visible presence for the Ulster-scots
community in Belfast and showcases their role, impact and contribution to wider society including
within Northern Ireland, the Border Counties, and the impact Ihe diaspora has had on world history. It
also allows us to showcase the role that the Ulster-scots community played in the development of
Belfast and its industrial contribution to the world. The Board and staff view the centre as an
opportunity to heighten awareness of this contribution and to maintain the visibility of the Ulsler-scots
community.
The Network has resumed their work with groups across Ulster both in the real world, as confidence
returns to Ihe sector and people want to interact at a personal level again after spending 50 long
connecting via technology. We do continue as well to work virtually with those groups who still haven't
the confidence to bring groups of people together.
USCN also continued to build upon opportunities for providing Ulster-scots materials into the
communty as part of our outreach work and our collaboration with member groups. This year, also
saw a return to working with our member groups in the Border Counties and assisting them as they
sought to develop their connections on a broader basis than had been possible for the last few years.
Other notable activities include:
Maintaining membership engagement - 66 groups either joined or renewed their membership of the
Ne￿Ork over the course of the year, keeping membership around 650 groups.
USCN staff provided assistance to member groups across the year with over 350 meetings and 2500
responses to various queries groups had. We also assisted groups to secure nearly£450k in financial
assistance in the period.
Throughout the year staff delivered a range of talks to groups, as well as exhibition materials in a
variety of venues with a near doubling year on year - partly driven by the removal of restrictions to
112 sessions.
The Education Officer provided lalks to schools on a further 125 occasions during the year, and USCN
staff distributed almost 20k items of literature and promotional material during the period covered by
this report. USCN also undertook promotional work al a range of cultural and information events this
year including festivals, conferences and cultural showcases.
USCN processed almost 200 Access Nl certificales this year for member groups as well as assisting
over 50 member groups with policy advice and guidance as we seek to enhance the capacity of the
community.
USCN also continue to develop their online presence through a variety of social media channels as

Ulster-scots Community Network
Company Limited by Guarantee
Directors. Annual Report (Incorporating the Director's Report) (continu8d)
Year ended 31 March 2023
they look to broaden the reach of their message particularly as they look to engage with the
Ulster-scots diaspora.
As part of its ongoing programme of work USCN also delivered Open College Network Nl accredited
courses in Ulster-scots History and Identty with 11 courses being delivered across Northern Ireland.
The Publications Officer was extremely productive with articles being produced and carried in a range
of newspapers and magazines throughout the year, as well as researching articles on other famous
Ulster-scots as the basis for future publications.
Flnancial review
We are grateful to the following organisations who provided support to the USCN during the period
under review:
Ulster-scots Agency - Core Funding support including salaries, establishment costs and project
monies.
Ulster-scots Agency under their Small Grants Scheme for delivery of events in the community-
Arts Council of Northern Ireland - Salary support (Publications OfFicer) under their AFP scheme, as
well as programming costs for our artistic programme.
Heritage Lottery
under the CRESI scheme administering funding on behalf of Department for
Communities to recruit Staff to assist the future development of the organisation within the sector.
Scottish Book Trust - a grant to allow us to publish an anthology of Scots poetry by Stuart A Paterson.
We are the first organisation outside Scotland to receive this grant from the Scots Government.
RESERVES POLICY
Reserves are required by any organisation to help offset the inherent risk potential of reliance on
funding applications and the processes they entail.
USCN aims to hold three months core operating costs as a Business Reserve at all times. This
ensures an effective salary net exists to cover fixed costs and staff salaries as well as successfully
completing any outstanding project commitments.
The actual financial amount held in reserve is reviewed regularly and is dependent on the availability
of assets and the mean monthly operating totsl as calculated at each review.

Ulster-scots Community Network
Company Limited by Guarantee
Directors. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Plans for future periods
USCN is committed to the delivery of the Key Performance Indicators as set out in the current 2023
Business Plan of the organisation. These include..
Help secure £500k in financial assistance for member groups.
Provide 400 advice sessions to member groups on a range of relevant issues. Deliver a range of
geographically diverse information sessions on funding. Support at least 40 member groups with
policy development
Facilitate 100 Disclosure certificates through Access Nl
Recruit at least 100 participants for the OCN Nl Accredited Courses offered by USCN. Deliver
talkslPresentations to at least 60 groups
Grow the Network by 5 % during the year
Increase walk-in visitors to the Discover Ulster-scots Centre by 10/0. Deliver a range of cultural
activities through the centre
Meel regularly with key member organisations and maintain a strong and visible online and media
presence
Future Grant Funding
The USCN has secured core funding from the Ulster-scots Agency for the 2023 calendar year. This
agreement expires in December 2023. Negotiations will commence to secure a financial package from
the Ulster-scots Agency for 2024, with a business plan being submitted in late 2023. It is a150 hoped
that during 2024 we will be submitting a multi-year business plan which will assist us lo move away
from the current funding model.
The Directors are confident that the Ulster-scots Agency will agree to provide sufficient core funding to
allow the Network to continue in existence and are not aware of any reason why the Ulster-scots
Agency's financial support might be withdrawn.
Arts Council funding has been secured for the current financial year 2023124 to SUPPOrt the post of
Publications Officer and other financial support has been received from Heritage Lottery Fund to
support an additional post within the Network through until 2025.
Directors. responsibilities statement
The directors, who are also directors for the purposes of company law, are responsible for preparing
the directors, report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the charity directors to prepare financial statements for each year which give a
true and fair view of the state of affairs of the charitable company and the incoming resources and
application of resources, including the income and expenditure, for that period.

Ulster-scots Community Network
Company Limited by Guarantee
Directors. Annual Report (Incorporating the Director's Report) (Continued)
Year ended 31 March 2023
In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently.,
obsetve the methods and principles in the applicable Charities SORP;
make judgments and accounting estimates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed, subject to any material
departures disclosed and explained in the financial statements-
prepare the financial statements on the going concern basis unless it is inappropriate to presume
thal the charity will Continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any lime the financial
position of the charity and enable them to ensure that the financial statements Comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence
for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
Each of the persons who 15 a director at the date of approval of this report confims that-
so far as they are aware, there is no relevant audit information of which the charity's auditor is
unaware., and
they have taken all steps that they ought to have taken as a director to make themselves aware
of any relevant audit information and to establish that the charity's auditor is aware of that
information.
The auditor is deemed to have been re-appointed in accordance with section 487 of the Companies
Act 2006.

Ulster-scots Community Network
Company Limited by Guarantee
Directors, Annual Report (Incorporating the Director's Report) (continuedj
Year ended 31 March 2023
The directors, annual report and the strategic report were approved on 28 November 2023 and signed
on behalf of the board of trustees by..
Mrs. E. Cameron
Director
Mrs. L. Mulholland
Director
Mrs. A. Smyth
Director
Mr. N. Mccausland
Chairman
Mr. G. Campbell
Director
Mrs. C. Evans
Director
Mr. W. Carlile
Director
Mr M. Smyth
Director
LAJ.

Ulster-scots Community Network
Company Limited by Guarantee
Independent Auditor's Report to the Members of Ulster-scots Community
Network
Year ended 31 March 2023
Opinlon
We have audited the financial statements of Ulster-scots Community Network (the 'charity') for the
year ended 31 March 2023 which comprise the statement of financial activities (including income and
expendilure account), statement of financial position and the related notes, including a summary of
significant accounting policies. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The
Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally
Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the charity's affairs as at 31 March 2023 and of its
incoming resources and application of resources, including its income and expenditure, for the
year then ended-
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice.,
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with Intemational Standards on Auditing (UK) {ISAs (UK)) and
applicable law. Our responsibilities under those standards are further described in the auditols
responsibilÉties for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant to our audit of the financial
statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements. We believe that the audit evidence we have
obtained is sufficient and appropriate to provide a basis for our opinion.
Material uncertainty related to going concern
We d￿W attention to note 3 in the financial statements, which indicates that in forming our unqualified
opinion, we have considered the adequacy of the disclosures made in the financial statements
concerning the Charity's ability to continue as a going concern. Short term grant funding horizons
mean that the organisation must apply for core financial assistance on an annual basis and, at the
date of our audit report, whilst confirmation has been received for the 2023 calendar year, the charity
is not in receipt of a letter of offer extending beyond that period. The financial statements have been
prepared on a going concem basis, the validity of which depends on the continued support of the
Charity's grant funders. As staled in note 3, these events or conditions, along with the other matters as
set forth in nole 3, indicate that a material uncertainty exists that may cast significant doubt on
the charity's ability to continue as a going concern. Our opinion is not modified in respect of this matter.
Our responsibilities and the responsibilities of the directors with respect to going concern are
described in the relevanl sections of this report.
10

Ulster-scots Community Network
Company Limited by Guarantee
Independent Auditor's Report to the Members of Ulster-scots Community
Network (conllnuett)
Year ended 31 March 2023
Other information
The other information comprises the information included in the annual report, other than the financial
statements and our auditor's report thereon. The directors are responsible for the other information.
Our opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a
material misstatement of the other information. If, based on the work we have performed, we conclude
that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit-
the information given in the directors, report for the financial year for which the financial
statements are prepared is consistent with the financial statements.. and
the directors, report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charity and its environment obtained in the
course of the audil. we have not identified material misstatements in the directors, report.
We have nothing to report in respect of the following matters in relation to which the Companies Act
2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not
been received from branches not visited by us., or
the financial statements are not in agreement with the accounting records and returns- or
certain disclosures of directors, remuneration specified by law are not made-, or
we have not received all the information and explanations we require for our audit.
11

Ulster-scots Community Network
Company Limited by Guarantee
Independent Auditor's Report to the Members of Ulster-scots Community
Network fcontinuedj
Year ended 31 March 2023
Responsibilities of directors
As explained more fully in the directors, responsibilities statement, the directors (who are also the
directors for the purposes of company law) are responsible for the preparation of the financial
statements and for being satisfied that they give a true and fair view, and for such internal control as
the directors detemiine is necessary to enable the preparation of financial statements that are free
from material misstatement, whether due to fraud or error.
In preparing the financial statements, the directors are responsible for assessing the charity's abiltty to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the
going concern basis of accounting unless the directors either intend to liquidate the charity or to cease
operations, or have no realistic altemative but to do so.
12

Ulster-scots Community Network
Company Limited by Guarantee
Independent Auditor's Report to the Members of Ulster-scots Community
Network (contlnued)
Year ended 31 March 2023
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to Issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that
an audit conducted in accordance with ISAS {UK} will always detect a material misstalement when it
exists. Misstatements can arise from fraud or error and are considered material if. individually or in the
aggregate, they could reasonably be expected to influence the economic decisions of users taken on
the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatements in respect
of irregularities. including fraud. The extent to which our procedures are capable of detecting
irregularities, including fraud is detailed below..
Our approach to identifying and assessing the risks of material misstatement in respect of
irregularities, including fraud and non-compliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate
competence. capabilities and skills to identify or recognise non-compliance with applicable laws and
regulations..
we identified the laws and regulations applicable to the company through discussions with trustees
and other management.
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal correspondence., and
identified laws and regulations were communicated wilhin the audit team regularly and the team
remained alert to instances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial slatements to material misstatement,
including obtaining an understanding of how fraud might occur, by..
making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud., and
considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through management bias and override of controls, we-
performed analytical procedures to identify any unusual or unexpected relationships.,
tested journal entries to identify unusual transactions- and
assessed whether judgements and assumptions made in determining the accounting estimates set
out in note 3 were indicative of potential bias.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed
procedures which included, but were not limited to..
agreeing financial statement disclosures to underlying 5UPPOrting documentation-,
13

Ulster-scots Community Network
Company Limited by Guarantee
Independent Auditor's Report to the Members of Ulster-scots Community
Network (conflnued)
Year ended 31 March 2023
reading the minutes of meetings of those charged with governance., and
enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed that laws
and regulations are from financial transactions, the less likely it is that we would become aware of
non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance
with laws and regulations to enquiry of the directors and other management and the inspection of
regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error
as they may involve deliberate concealment or collusion.
As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain
professional scepticism throughout the audit. We also:
Identify and assess the risks of material misstatement of the financial statements, whether due lo
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error.
as fraud may involve collusion, forgery, intentional omissions. misrepresentation5, or the override
of internal control.
Obtain an understanding of intemal control relevant to the audit in order to design audit
procedures that are appropriate in the circumstances, bijt not for the purpose of expressing an
opinion on the effectiveness of the intemal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disclosures made by the directors.
Conclude on the appropriateness of the directors, use of the going concern basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to
events or conditions that may cast significant doubt on the charity's ability to continue as a going
Concern. If we conclude that a material uncertainty exists, we are required to draw attention in
our auditor's report to the related disclosures in the financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date of our auditor's report. However, future events or conditions may cause the charity
to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures, and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
14

Ulster-scots Community Network
Company Limited by Guarantee
Independent Auditor's Report to the Members of Ulster-scots Community
Network (contlnued)
Year ended 31 March 2023
We communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit and significant audit findings, including any significant deficiencies in
intemal control that we identify during our audit.
Use of our report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part
16 of the Companies Act 2006. Our audit work has been undertaken so that we might state lo the
charity's members those matters we are required to state to them in an auditorfs 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 charity and the charity's members as a body, for our audit work, for this report,
or for the opinions we have formed.
Joh
ee
enio
Statutory Auditor)
Fora
n beha
Aubrey Campbell
ompany
Chartered accountants & statutory auditor
631 Lisburn Road
Belfast
BT9 7GT
28 November 2023
15

Ulster-scots Community Network
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2023
2023
Restricted
funds Total funds
2022
Total funds
Nots
Income and endowments
Donations and legacies
Other trading activities
Investment income
447,695
4,318
140
447,695
4,318
140
385.120
2,299
Total income
452,153
452,153
387,421
Expenditure
Expenditure on raising funds..
Costs of other trading activities
Expenditure on charitable activities
Other expenditure
Total expenditure
{3,346)
(3,346)
187
(366,567) (366,567) (448,284)
{77)
{369,913) (448,174)
9.10
11
(369,913)
Net incomel(expendtture) and net movement in funds
82,240
82.240
(60,753)
Reconciliation of funds
Total funds brought forward
Total funds carried forward
162,990
162,990
223,743
245,230
245,230
162,990
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 19 to 30 forni part ofthese flnanclal statements.
16

Ulster-scots Community Network
Company Limited by Guarantee
Statement of Financial Position
31 March 2023
2023
2022
Note
Fixed assets
Tangible fixed assets
16
16,760
24,451
Current assets
Stocks
Debtors
Cash at bank and in hand
17
18
8,853
13,423
218,927
4,486
15,971
149.500
241,203
169,957
Creditors: amounts falling due within one year
Net current assets
19
12,733
31,418
228,470
138,539
Total assets less current liabilities
245,230
162,990
Net assets
245,230
162,990
Funds of the charity
Restricted funds
245,230
162,990
Total charity funds
21
245,230
162,990
The statement of financial position
continues on the following page.
The notes on pages 19 to 30 form part of these financial statements.
17

Ulster-scots Community Network
Company Limited by Guarantee
Statement of Financial Position (continued)
31 March 2023
These financial statements were approved by the board of trustees and authorised for issue on 28
November 2023, and are signed on behalf of the board by:
Mrs. E. Cameron
Director
Mrs. L. Mulholland
Director
Mrs. A. Smyth
Director
Mr. N. Mccausland
Chairman
Mr. G. Campbell
Director
Mrs. C. Evans
Director
Mr. W. Carlile
Director
Mr M. Smyth
Director
The notes on pages 19 to 30 form part of these financial statements.
18

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
General information
The charity is a public benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the regislered office
Is Corn Exchange, 1-9 Victoria Street, Belfast, BT13GA.
Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 1021 (Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The Ulster-S¢ots Community Network (USCN) is dependent upon grant assistance for its
revenues. The Ulster-scots Agency provides the USCN with core funding and has provided
USCN with confirmalion of funding for the financial year under review. Total income recognised
in the 2022123 financial statements from the Ulster-scots Agency amounted to some £315k.
Discussions are ongoing with the Ulster-scots Agency to secure future funding.
Efforts are being made by the USCN to diversify its funding base to ensure that activity levels are
maintained. However, it remains that the Ulster-scots Agency is the charity's largest funder and
further reductions in financial assistance could affect the organisation's effectiveness.
Nevertheless, the directors are confident thal the USCN will be in receipt of sufficient funding to
allow the charity to continue in existence, nor are they aware of any reason why the Ulster-scots
Agency's financial support might be withdrawn.
On this basis, the directors consider that the preparation of the financial statements on a going
concern basis is appropriate, which assumes that the Ulster-scots Community Ne￿Ork will
continue in operational existence for the foreseeable future.
Thi5 assumes that the Ulster-scots Agency grant funding will continue. However, this material
issue may cast doubt upon Ihe ability of the charity to continue as a going concern and,
therefore, it may be unable to realise assets and discharge liabilities in the nomial course of
business. The financial statements do not conlain any adjustments that would result if future
funding was unavailable.
19

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
Accounting policies (¢ontlnued)
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgemenls,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, including expectations
of future events that are believed to be reasonable under the circumstances.
Income tax
The company is registered as a charity for tax purposes under reference XR19610. The
directors consider that all income received and expenditure incurred is related to the company's
charitable objects and, hence, the company is not subject to corporation tax on any surpluses.
Fund accounting
Funds held by the charity are either..
Unrestricted general funds
these are funds which can be used in accordance with the
charitable objects at the discretion of the directors.
Designated funds
these are funds set aside by the directors out of unrestricted funds for
specific future purposes or projects.
Restricted funds these are funds that can only be used for particular purposes within the
objects of the charity. Restrictions arise when specified by the donor or when funds are raised
for particular restricted purposes.
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has
passed to the charity., it is probable that the economic benefits associated with the transaction
will flow to the charity and the amount can be reliably measured. The following specific policies
are applied to particular categories of income..
income from donations or grants is recognised when there is evidence of entitlement to the
gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is
impractical to measure reliably, in which case the value is derived from the cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent, in which case
it may be regarded as restricted.
20

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
Accounting pollcies (continued)
Resources expended
Resources expended are included in the statement of Financial Activities on an a¢¢ruals basis,
inclusive of any VAT which cannot be recovered. Liabilities are recognised as resources
expended as soon as there is a legal or constructive obligation committing the charity to
expenditure.
Certain expenditure 15 directly attributable to specific activities and has been included in those
cost categories. Any common costs have been allocated to programme costs as part of funding
budgets.
Costs of generating funds comprise the costs associated with attracting voluntary income and
the costs of trading for fundraising purposes including the charity's restaurant.
Charitable activities, costs comprise those costs incurred by the charity in the delivery of its
activities and services for its beneficiaries. In includes both costs that can be allocated directly
to such activities and any indirect costs necessary to support them.
Governance costs include those costs associated with meeting the constitutional and statutory
requirements of the charity and include items such as audit fees and costs linked to the strategic
management of the charity.
Tangible assets
All fixed assets are initially recorded at cost less accumulated depreciation. Depreciation is
provided at rates calculated to write off the cost of each asset over its expected useful life.
The carrying values of tangible fixed assels are reviewed annually for impairment in periods if
events or changes in circumstances indicate the carrying value may not be recoverable.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows=
Fixtures and Fittings
Office Equipment
20°/o Straight line
20°/o Straight line
Impairment of fjxed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the Carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impaimients are also reviewed for
possible reversal al each reporting date.
For the purposes of impaiment testing, when st is not possible to estimate the recoverable
amount of an individual asset, an estimate is made of the recoverable amount of the
cash-generating unit to which the asset belongs. The cash-generating unit is the smallesl
identifiable group of assets that includes the asset and generates cash inflows that largely
independent of the cash inflows from other assets or groups of assets.
21

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Statements fcontlnued)
Year ended 31 March 2023
Accounting policies (contlnued)
Impaimient of fixed assets (¢ontlnued)
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each of the cash-generating units that are expected to benefit from
the synergies of the combination, irrespective of whether other assets or liabilities of the charity
are assigned to those units.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items. Net realisable value is the amount for which stock can be sold
minus the associated costs of selling it.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impaiment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes
recognised in the statement of financial activities, with the exception of hedging instruments in a
designated hedging relationship.
Financial assets that are measured at cost or amortised Cost are reviewed for objective evidence
of impairment at the end of each reporting date. If there is objective evidence of impairment, an
impaiment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impaimient. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals ol impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
22

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Statements {¢ontinuedJ
Year ended 31 March 2023
Accounting policies (continued)
Defined contribution plans
Conlributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which it arises.
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.
Limited by guarantee
Every member of the company undertakes to contribute to the assets of the company in the
event of its being wound up while helshe is a member or within one year after helshe ceases to
be a member, for payment of the debts and liabilities of the company contracted before he/she
ceases to be a member and of the cost, charges and expenses of winding up and for the
adjustment of the rights of the contributories amongst themselves, such amount as may be
required not exceeding £1.
Donations and legacies
Restricted Total Funds
Funds
2023
Restricted Total Funds
Funds
2022
Donations
Donations
Reimbursement from Ulster Scots
Agency
5,177
5,177
13
13
41,906
41,906
23

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Ststements (continued)
Year ended 31 March 2023
Donations and legacies (Continued)
Restricted Total Funds
Funds
2023
Restricted Total Funds
Funds
2022
Grants
Grants receivable - Ulster Scots
Agency project funding
Grants receivable - Ulster Scots
Agency core funding
Grants receivable- The Arts Council
ofNI
Grants receivable - Department for
Communities
Grants receivable - National Heritage
Grant
Grants receivable - Scottish Book
Trust Grant for Wheen
1.000
1,000
9,433
9,433
313,964
313.964
331,148
331,148
33,802
33.802
29,518
29,518
15,008
15,008
49,716
49,716
2,130
2,130
447,695
447,695
385,120
385,120
Other trading activities
Restricted Total Funds
Funds
2023
Restricted Total Funds
Funds
2022
Fee income
Shop sales
1,295
3,023
1,295
3,023
1,060
1,239
1,060
1,239
4,318
4,318
2,299
2,299
Investment income
Restricted Total Funds
Funds
2023
Restricted Total Funds
Funds
2022
Bank interest receivable
140
140
Costs of other trading activities
Restricted Total Funds
Funds
2023
Restricted Total Funds
Funds
2022
Costs of other trading activities - Shop
costs
3,346
3,346
{187)
(187)
24

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Statements {¢onUnued)
Year ended 31 March 2023
Expenditure on charitable activities by fund type
Restricted Total Funds
Funds
2023
Restricted Total Funds
Funds
2022
Ulster Scots Cultural Advancement
Support costs
353,275
13,292
353,275
13,292
433.136
15,148
433,136
15.148
366,567
366,567
448,284
448,284
10. Expenditure on charitable activities by activity type
Activities
undertaken
directly
Support Total funds
costs
2023
Total fund
2022
Ulster Scots Cultural Advancement
Governance costs
353,275
353,275
13,292
433,136
15,148
13,292
353,275
13,292
366,567
448,284
11. Other expenditure
Restricted Total Funds
Funds
2023
Restricted Tolal Funds
Funds
2022
Loss on disposal of tangible fixed
assets
77
77
12. Net in¢omel(expenditure)
Net incomel{expenditure) is stated after chargingl{crediting):
2023
2022
Depreciation of tangible fixed assets
Loss on disposal of tangible fixed assets
7,691
8,632
77
13. Auditors remuneration
2023
2022
Fees payable for the audit of the financial statements
5,100
6,100
25

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
14. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows..
2023
2022
Wages and salaries
Social security costs
Employer contributions to pension plans
194,264
15,928
5,833
216,025
203,259
17,481
6,217
226,957
The average head count of employees during the year was 6 (2022: 6). The average number of
full-time equivalent employees during the year is analysed as follows:
2023
2022
Number of administrative staff
Number of management staff
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
15. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were
received by the trustees.,
16. Tangible fixed assets
Fixtures and
fittings
Equipment
Total
Cost
At 1 April 2022 and 31 March 2023
Depreciation
At 1 April 2022
Charge for Ihe year
At 31 March 2023
6,943
49,939
56,882
5,120
575
27,311
7,116
32,431
7,691
5,695
34,427
40,122
Carrying amount
At 31 March 2023
1,248
15,512
16,760
At 31 March 2022
1,823
22,628
24,451
17. Stocks
2023
2022
Raw materials and consumables
8,853
4,486
26

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
18. Debtors
2023
2022
Trade debtors
Prepayments and accrued income
2,323
11,100
8.174
7,797
13,423
15,971
19. Creditors: amounts falling due within one year
2023
2022
Accruals and deferred income
Social security and other taxes
Other creditors
11,399
29,613
555
1,250
1,334
12,733
31,418
20. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £5,833 (2022: £6,217).
21. Analysis of charitable funds
Unrestricted funds
At
31 March 20
23
At
1 April 2022
Income Expenditure
Transfers
At
31 March 20
22
At
1 April 2021
Income Expenditure
Transfers
27

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2023
21. Analysis of charitable funds (conunued)
Restricted funds
At
31 March 20
23
At
1 April 2022
Income Expenditure
Transfers
Restricted Funds
Restricted Fund - BCC
Project
Restricted fund - DFC
Restricted fund
Co-operation Ireland
Restricted fund Ulster
Scots Agency
Restricted fund
Department of Foreign
Affairs
Restricted fund
National Heritage Grant
Restricted fund
Scottish Book Trust
Grant for Wheen
Restricted fund - DFC
Capital Equipment
Grant
97,693
399,307
(361,1761
12,198
148,022
200
200
1,473
(736)
737
52,900
1,000
(2,650)
(12,198)
39.052
49,716
(540)
49,176
2.130
(2,130)
10,724
(2,681)
(369,913)
8,043
162,990
452,153
245,230
At
31 March 20
22
At
1 April 2021
Income Expenditure
Transfers
Restricted Funds
Restricted Fund - BCC
Project
Restricted fund - DFC
Restricted fund
CoThOperation Ireland
Restricted fund Ulster
Scots Agency
Restricted fund
Department of Foreign
Affairs
Reslricted fund
Nalional Heritage Grant
Restricted fund
Scottish Book Trust
Grant for Wheen
Restricted fund - DFC
Capital Equipment
Grant
131,704
362,980
(396,073)
(919)
97,692
27,902
200
(28,582)
680
200
2,209
(736)
1,473
52,801
9,433
(9,497)
164
52,901
8,927
(9,002)
75
15,008
(4,284)
{448,174)
10,724
162,990
223,743
387,421
28

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Statements {¢ontinued)
Year ended 31 March 2023
21. Analysis of charitable funds (eontinuedj
The directors consider that all grant funds received by the charity are restricted in nature and are
applied for the purposes for which the grant was made.
22. Analysis of net assets between funds
Restricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
16,760
241,203
112,7331
245,230
16.760
241,203
112,7331
245,230
Restricted Total Funds
Funds
2022
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
24.451
169,957
{31,418)
162,990
24.451
169.957
131,418)
162,990
23. Operating lease commitments
The total future minimum lease payments under non-cancellable operating leases are as follows-.
2023
2022
Not laler than 1 year
Later than 1 year and not later than 5 years
67,309
67,309
67,309
67,309
134,618
On 3 July 2018 the charity signed a lease in relation to the rental of their building, this disclosure
has been made in the accoun15 due to it's material nature.
24. Llmitation of auditors liability
The company has entered into a liability limitation agreement with its auditor, Aubrey Campbell
and Company, on the following basis:
(al the maximum aggregate amount of the auditor's liability to the company shall not exceed the
sum of seven times the fees payable (excluding expenses and value added tax) under the
engagement letter agreed for the financial period, or £30,000, whichever is the lesser amount.
(b) the agreement was passed by a resolution of the company's members on 28th September
2023.
29

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Financial Statements (contlftued)
Year ended 31 March 2023
25. Related parties
The directors have confirmed that there were no related party transactions during the year.
30

Ulster-scots Community Network
Company Limited by Guarantee
Management Information
Year ended 31 March 2023
The following pages do not form part of the financial statements.
31

Ulster-scots Community Network
Company Limited by Guarantee
Detailed Statement of Financial Activities
Year ended 31 March 2023
2023
2022
Income and endowments
Donations and legacies
Donations
Reimbursement from Ulster Scots Agency
Grants receivable - Ulster Scots Agency project funding
Grants re￿1Vable- Ulster Scots Agency core funding
Grants receivable- The Arts Council of Nl
Grants receivable - Department for Communities
Grants receivable - National Heritage Grant
Grants receivable - Scottish Book Trust Grant for Vvheen
5,177
41,906
1,000
313,964
33,802
13
9,433
331,148
29,518
15,008
49,716
2,130
447,695
385,120
Other trading activities
Fee income
Shop sales
1,295
3,023
1,060
1,239
4,318
2,299
Investment income
Bank interest receivable
140
Total income
452,153
387,421
32

Ulster-scots Community Network
Company Limited by Guarantee
Detailed Statement of Financial Activities f¢ontinuedJ
Year ended 31 March 2023
2023
2022
Expenditure
Costs of other trading activities
Opening stock
Purchases
Closing stock
4.486
7,713
8.853
4,033
266
4,486
3,346
{187)
Expenditure on charitable activities
Wages and salaries
Employerfs NIC
Pension costs
Rent
Rates and water
Light and heat
Repairs and maintenance
Insurance
Other motorltravel costs
Legal and professional fees
Telephone
Other office costs
Depreciation
Other interest payable and similar charges
Advertising
Event costs
Staff training
Returned grant money
194,264
15,928
5,833
67,333
19,801)
10,638
5,323
3,240
11,789
11,382
5,207
10,590
7.691
501
2,180
22,206
2,263
203,259
17,481
6,217
86,525
10,797
5,622
1,316
4,930
10,584
7,192
4,925
9,373
8,632
416
16,485
23,348
2,600
28,582
366,567
448,284
other expenditure
Loss on disposal of tangible fixed assets
77
Total expenditure
369,913
448,174
Net Sncomel(expenditure}
82,240
(60,753)
33

Ulster-scots Community Network
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Year ended 31 March 2023
2023
2022
Costs of other trading activities
Costs of other trading activities - Shop costs
Shop costs- opening stock
Shop costs- purchases
Shop costs - closing stock
4,486
7,713
(8,853)
3,346
4,033
286
(4,486)
{187)
Costs of other trading activities
3,346
{187)
Expenditure on charitable activities
Ulster Scots Cultural Advancement
Activities undertaken directly
Direct charitable activity 1 wageslsalaries
Direct charitable activity 1 employer's NIC
Direct charitable activity 1 pension costs
Direct charitable activity 1 rent
Direct charitable activity 1 rates & water
Direct charitable activity 1 light & heat
Direct charitable activity 1 repairs & maintenance
Direct charitable activity 1 insurance
Direct charitable activity 1 other motorltravel costs
Direct charitable activity 1 legal and professional fees
Direct charitable activity 1 telephone
Direct charitable activity 1 other office costs
Direct charitable activity 1 advertising
Direct charitable activity 1 event costs
Direct charitable activity 1 staff training
Direct charitable activity 1 Returned grant money
194,264
15,928
5,833
67,333
{9,801)
10,638
5,323
3,240
11,789
6,282
5,207
10,590
2,180
22,206
2.263
203,259
17,481
6,217
86,525
10,797
5,622
1,316
4,930
10,584
1,092
4,925
9,373
16,485
23,348
2,600
28,582
353,275
433,136
Govemance costs
Governance costs - audit fees
Governance costs - depreciation
Governance costs - other finance costs
5,100
7,691
501
6,100
8,632
416
13,292
15,148
Expenditure on charitable activities
366,567
448,284
34