COMPANY REGISTRATION NUMBER: NIIM3631 CHARrrY REGISTRATION NUMBER: NIC100986 Ulster-scots Community Network Company Limited by Guarantee Financial Statements 31 March 2025 BREY AMPB Chartered accountants & statutory auditor 631 Lisburn Road Belfast BT9 7GT
Ulster-scots Community Network Company Limited by Guarantee Financial Slalemenls Year ended 31 March 2025 Page Directors, annual report (incorporating Ihe director's report) Independent auditorfs report to the members Statement of financial activities (including income and expenditure account) Statement of financial position 15 16 Notes to the financial statements 18 The following pages do not form part of the financlal statements Detailed statement of financial activities 29
Ulster-scots Community Network Company Limited by Guarantee Direciors. Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 The directors, who are also the directors for the purposes of company law, present their report and the financial statements ol the charity lor the year ended 31 March 2025. Reference and admlnlslrallve detsils Reglslered charlty name Ulsler-scots Community Netriork Charlty reglslrallon number Company reglstratlon number N1043631 Prlnclpal off Ice and reglslered 1-9 Victoria Street off I Bemast BT1 3GA NIC100986 The dlreclors Mrs. E. Cameron Mrs. L. Mulholland Mrs. A. Smyth Mr. N. McCauslarKI Mr. G. Campbell Mrs. C. Evans Mr. W. Carlile Mr M. Smyth Company secretary Mr D Gilliland Audllor Aubrey Campbell & Company Chartered accountants & stalulory auditor 631 Lisburn Aoad Bellasl 8T9 7GT
Ulster-scots Community Network Company Limited by Guarantee Directors, Annual Report (Incorporating the Director's Report) {conllnu Year ended 31 March 2025 Slructure, governance and management Management The Ulster-scols Comrnunity Netriork (USCN) is overseen by a Board ol Directors who are responsible lor setting the strategic direclion of the organisation, wth Ihe day to day management undertaken by the Operations Director who also implements all necessary policies as agreed by ihe Board. The Director is resFM)nsible for ensuring that the organisalion delivers on agreed targets and objectives. He is also responsible for the SupeiS1on ol the staff team. Publlc Benefll Statement The trustees confirm that they have had due regard lor Ihe guidance pr(KJuced on public benefit by Ihe Charity Commission for Northern Ireland and are pleased to report thal during the period the charitable company has continued to prO¥e publ benefits through the programmes and serrfices we offer. Currenl Slruclure and St•fflng Chairman Board of Directors Director (vacant since September 20241 Education and Outreach Officer (vacant since September 2024} Publications Officer Community Developfflent Officer Community Development Officer Cornmunily Development Officer Community Development Off icer Digital Communications Off icer Corporate Governance The Ulsler-scols Community Network is committed to high standards of corporate governance. Although the organisalion does nol have shareholders, the staff and Board have a responsibility lo prowde clear evidence of a Iransparenl and efficient organisation lo ils stakehoklers who include the Ulsler-scols community, funding bodies and government.
Ulster-scots Community Network Company Limited by Guarantee Directors. Annual Report (Incorporating Ihe Director's Report) (conlinued) Year ended 31 March 2025 Struclure, govefnance and managemenl (¢ontlnwdJ The Board of Dlreclors As detailed in the USCN Articles and Memorandum of Association, the Board directs the organisation's strategic planning, financial managemenl and operalional issues. The Board meets, on average, 9 times a year with a full General Meeting io be held al least once every 15 monlhs. The Chairman leads the Board. and the Direclor leads the management of the organisalion. The Chairman's responsibilities include setting the Board Agenda and wlh the Direclor, is responsible lor the distribution of accurale, timely and clear information pertaining to the aclivities of the organisation. The diversity ol interesi groups from within the wider Ulsler.Scots sector, represented by the Board is seen as a key strength ol the organisalion. The Director attends Board meetings as a linkage between the slalf ol the organisation and the Board. The Director plays a full role al Board Meetings but does not have voting rights al such meelings. The USCN Board are responsible for scrutinising the perfomiance of the managemenl to be satisfied as to the integrity and strength of financial information controls and risk management of the organisation. Internal Controls The Directors (Trustees) are responsible for the organisalion's systems ol internal conlrol which are designed to provide reasonable assurance lo safeguard Ihe organisalion's assets against unaulhorised use or disposilion and Ihe maintenance of pr(per accounting records and the reliability of financial information used within Ihe organisatim. The Ulster-scots Community Nelwork recognises that effective corporale governance remains key to maintaining a strong organisational ethos in which Ihe Ulsler-scols community, Government and funders can be confidenl. Policies and controls are reviewed regularly by relevant personnel and actions lo address non-conformance are undertaken without delay. The financial procedures of the organisation are specifically governed by a Financial Pracedures Policy and the Procurernent Policy. A management accounting system is in place probryding management with financial and operational performance measurement indicators. Detailed account summaries are prepared monthly arKJ combined with up to date banking records, are regularly presenled to the USCN Board in clear and concise fomials.
Ulster-scots Community Network Company Limited by Guarantee Directors. Annual Report (Incorporating the Director's Report) (willnuffjd) Year ended 31 March 2025 Objectlves and actlvlties Oblectlves The Ulster.Scots Community Network (USCN} was estatiShed in 1995 to promote awareness and understanding ol the Ulster-scots tradition in language, lileralure, music and dance as well as the contribution of the Ulsler-scots community lo Ihe developmenl 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 Vth around 600 member groups, Ihe USCN is committed lo a comprehensive exploration of the intefaction between Ulster and Scolland, which has been a conslant factor in the hislory ol the British Isles. The Ulster-scots Community Network aims lo preserve, promote and develop Ulsler-scols herilage and culture in all its lorms and lo make a constructive and progressive contribution to delivering a lully inclusive society in which mulual underslanding and tolerance are accepted as the norm - a society at peace with itself. We seek lo work to develop a culturally confidenl and creative community capable ol plawng a key role in our socieiy in future. We aim to achieve this by: Providing an umbrella organisalion for all interest groups engaging in Ulster-scots aclivities - language, culture and history., Increasing capacity and building relevant skills wth the Ulster-scots community- Promoting Ulster-scots activities and aiming lo increase community confidence; Acting as a tocal point for dissemination of information concerning Ulster-scots; Dw4eloping Ulsler-scots cullure and heritage throughout the education and lourisrn sectors and throughout the wider community. Slrateglc report The following sections for achievemenls and performance and financial rw4iew lorm the slralegic report of the charity.
Ulster-scots Community Network Company Limited by Guarantee Directors, Annual Report (Incorporating the Director's Report) (contlnu•d) Year ended 31 March 2025 Achievements and performance Membership and Member Groups The USCN has continued to support our core member organisalions. The NeDNork currently supports approximateW 600 registered groups throughout Northern Ireland, the bor(ler counties of the Republic of Ireland and the wider Ulster-scols diaspora. These groups include Ulster-scols cultural groups. marching bands, local history societies, educalion groups, churches, and schools amongst others. Aclivities, Publications and Events during 2024 and inlo 2025 Based in the Discover Ulsler-scots Cenlre within the historic Corn Exchange building in Belfast are the Ulster-scots Community Netsyork's office. The Network also manages the visitors centre, performance space and shop unit there. This space provides a visible presence tor Ihe Ulster-scots community in 8elfast and showcases their role, impact and contribution lo wider socieiy including within Northern Ireland, the Border Counlies, and the impact the diaspora has had on world history. It also allows us to showcase the role thal the Ulsler-scots communily played in the development ol Bellast and its industrial contribulion to the world. The Board and staff view the cenlre as an opportunily to heighten awareness ol this Gontribution and to maintain the visibility ol the Ulster-scots community. USCN also continue to build upon opportunities for providing Ulster-scots materials into the community as part ol our outreach work and our collaboration wilh member groups Other notable aclivities include= Maintaining membership engagement 70 groups either joined or renewed their membership of the Network over the course of the year, keeping membership around 600 groups. USCN staff prowded assistance lo mernber groups across the year with over 250 meetings and 1000 responses to vaTiOUS queries groups had. We continue to work wilh groups lo secure funding from a range ol sources to improve the sector. Throughout the year slaff delivered a range ol 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. Work continues wilh schools and community groups as well as with visiting groups within the centre and USCN staff have been involved in a range ot activities including the Balmoral Show which provide OFJPOrtunities lor engagement. USCN processed almost 200 Access Nl certificates this year for member groups as well as assisting over 50 member groups wilh policy advice and guidance as we seek lo enhance the capaciiy of the community. USCN also continue to develop their online presence Ihrough a variety ol social media channels as they look lo broaden the reach of their message particularly as they look lo engage with Ihe Ulster- Scots diaspora. As part of its ongoing programme of work USCN also delivered Open College Network Nl accredited courses in Ulster-scots Hislory and Identity with 11 courses being delivered across Northern Ireland.
Ulster-scots Community Network Company Limited by Guaranlee Directors, Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 March 2025 Flnancial review We are grateful to the following organisalions who provided support to the USCN during the period under review: Ulster-scots Agency - Core Funding support including salaries, establishment costs and project monies. Arts Council ol Northern Ireland - Salary support {Publications Off icer) under their NLPF scheme, as well as programming cosls for our artistic programme. Herilage Lottery under the CRESI scheTne administering funding on behalf ol Department for Communities to recruit staff lo assist the future development of Ihe organisation within the sector. The Nalional Lottery Cornmunity Fund for the delivery of a capacity building programme 'Access to Resilience.. RESERVES POLICY Reserves are required by any organisation lo help offsel the inherent risk potential of reliance on funding applications and the processes they entail. USCN aims lo hold three monlhs 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 availabilily of assets and the mean monthly operating total as calculaled at each review. Plans for future periods USCN is committed to the delivery ol the Key Performance Indicators as set out in Ihe currenl 202516 Business Plan of the organisation. These include.. Help secure £250k 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 intormalion 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 Ihe OCN Nl Accredited Courses offered by USCN. Deliver talkslPresentations to at least 60 groups Grow the Network by SY. during the year Increase walk-in visitors to the Discover Ulster-scots Centre by 100/.. Deliver a range of cultural aclivities through the centre Meel regularly with key member organisations and maintain a strong and visible online and media presence
Ulster-scots Community Network Company Limited by Guarantee Directors, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Plans for fulure periods (continued) Future Grant Funding The USCN has secured core funding from the Ulster-scots Agency lor Ihe 2025 calendar year. This agreement expires in December 2025. Negotiations will commence to secure a financial package from the Ulster-scots Agency for 2026. with a business plan being submitted in late 2025.lt is also hoped that dLJring 2026 we wll be submitting a mutti-year Iwsiness plan which will assist us to move away from the current funding model. The Directors are confident that the Ulster-scots Agency will agree to proNllde sufficient core funding to allow Ihe Network lo continue in existence and are not aware of any reason why the Ulsler-scols Agency's financial support mighl be ythdrawn. Arts Council funding has now been secured for the current financial year 2024125 to support the posl of Publications Officer and other financial supwrt has been received from Heritage Lottery Fund lo support an additional post wthin the NeOrk through until mKJ-2025. Directors. responsibililles slalement The direclors, who are also directors lor the purposes ol company law, are resFM)nsible for preparing the directors, report and the financial statemenls in accordance wth applicable law and United Kingdom Accounting Standards {Uniled Kingdom Generally Accepted Accounting Praclice). Company law requires the charity directors Io Pfepare 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. In preparing these financial statements, the directors are required to: select suitable accounting policies and Ihen apply them consistently", observe 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 lollowed, subjecl to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless il is inappropriate to presume that the charity will continue in bLbsiness. The directors are responsible for keeping adequate accoLJnting records that are sufficient to show and explain the charivs Iransactions and disclose ¥h reasonable accuracy al any tirne the financial position of the charity and enable them to ensure tttal the financial slalemenls comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for laking reasonable sleps for the prevenlion and detection of fraud and other irregularities.
Ulster-scots Community Network Company Limited by Guarantee Directors, Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Audltor Each of the persons who is a director at the date of approval ol this report confirms that: so far as they are aware, there is no relevant audit infomiation of which the charily's auditor is unaware; and they have taken all steps that they ought to have laken as a director lo make themselves aware of any relevant audit inlormalion and to establish that the charitys auditor is aware of that informalion. The auditor is deemed to have been re-appointed in accordance with section 487 01 the Companies Acl 2006. The directors, annual rewrt and the strategic report were atproved on 19 December 2025 and signed on behalf ol the board of trustees by: Mrs. E. Cameron Director Mrs. L. Director Iholland Mrs. A. Smyth Director Mr. N. Mccausland Chairman Mr. G. Campbell Director Mrs. C. Evans Director Mr. W. Carlile Director Mr M. Smylh Director
Ulster-scots Community Network Company Limited by Guarantee Independent Auditor's Report to the Members ol Ulster-scots Community Network Year ended 31 March 2025 Oplnlon We have audited Ihe financial statements of Ulster-scots Community Network (the 'chariW) for the year ended 31 March 2025 which comprise the statemenl of financial aclivtties (including income and expenditure accounll, statemenl of financial position and the related notes, including a summary of significanl accounting policies. The financial reporting framework Ihat 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 (Uniled Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial statements-. give a true and fair wew ol the state of the charitys affairs as at 31 March 2025 and of its incoming resources and application of resources, including ils income and expenditure, for the year then ended. have been property prepared in accordance ¥th Uniled Kingdom Generally Accepted Accounling Practice., have been prepared in accordance wlh Ihe requirements of the Companies Acl 2006. Basis for opinion We conducled our audit in accordance wilh Inlemational Standards on Auditing (UK) IISAS (UK)) and applicable law. Our reswnsibililies undef those standards are further described in the auditor's responsibilities for the audit of the financial statements seclion of our report. We are independent of the charity in accordance with the ethical requirements Ihat are relevanl to our audil of the financial statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance vth these requiremenls. We believe thal the audit evidence we have obtained is sufficient and appropriate to provide a basis tor our OFMnion. Malerial uncertainty related to going concem We draw attention lo note 3 in the financial statements. which indicates thal in forming our unqualified opinion, we have considered Ihe adequacy of the disclosures made in the financial statements concerning Ihe charitys ability to continue as a going concern. Short term granl funding horizons rnean Ihal the organisalion must apply lor core financial assistance on an annual basis and, at the dale ol our audit report, the charity is not in receipt of a specific letter of offer in relation lo this. The financial statements have been prepared on a going COnGern basis, the validity of which depends on the continued supporl of the charitys grant funders. As slated in note 3, Ihese events or condilions, along with the other matters as sel forth in note 3, indicate that a material uncertainty exists that rnay cast signilicant doubt on the charitys ability to continue as a going concern. Our opinion is nol modified in respect of this matter. OUT responsibilities and Ihe responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Ulster-scots Community Network Company Limited by Guarantee Independent Auditor's Report to the Members of Ulster-scots Community Nelwork (contind) Year ended 31 March 2025 Other Information The olher informalion comprises the inlormation included in Ihe annual report, other Ihan Ihe financial statements and our auditor's rekX)rt Ihereon. The directors are responsible for the other information. Our opinion on Ihe finanual statements does not Cover the other information and, excepi to Ihe exlenl otherlse explicitly stated in our report, we do not express any lonn of assurance conclusion thereon. In connection wilh our audit of the financial statements: our Tesponsibility is to read the other information and, in doing so, consider whether the other information is materialty inconsistent with the financial statements or our knowledge obtained in the audit or olherwse appears to be materially misstated. 11 we identity such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statemenls or a malerial misstatement of the olher information. If, based on the woth we have perforrned, we conclude that there is a material misstatement of this other information, we are required lo report that facl. We have nolhing to report in this regard. Opinions on olher matters prescribed by the Companles Acl 2006 In our opinion, based on the work undertaken in the course ot the audit: the information given in the direclors, report for the financial year lor which the linanciai statements are prepared is consistent wth the financial statements; and the directors. report has been prepared in accordance with applicable legal requirements. Matters on which we are requlred lo report by exception In the light of the knowledge and understanding of the charity and its eniironmenl obtained in the course of the audit, we have not identih.ed material misstatements in Ihe directors, rewrt. We have nothing to report in respect of the followng matters in relation to which Ihe Companies Act 2006 requires us lo report to you rf, in our opinion: adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us. or the financial slalemersts are not in agreemenl with the accounling records and returns,. or certain disclosures of directors. remuneralion specified by law are not made; or we have not received all the information and explanations we require for our audil. 10-
Ulster-scots Community Network Company Limited by Guarantee Independent Auditor's Report to the Members of Ulster-scols Community Network (contlnwd) Year ended 31 March 2025 Responsibilities of dlrectors As explained more fully in the direclors, responsibilities statement, the directors (who are also the directors for the purposes ol company lawl are responsible for the preparation of the linancial statements and for being satisfied that they give a true and lair wew, and lor such inlernal Gonlrol as the direclors delermine is necessary to enable the preparation of financial slalements that are free from malerial misstatement, whether due to fraud OT error. In preparing the financial slatements, the direclors are responsible for assessing the charttvs ability to conlinue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis ol accounting unless Ihe directors either intend to liquidate the charity or to Gease operations, or have no realistic alternative but to do so. 11
Ulster-scots Community Network Company Limited by Guarantee Independent Audilor's Report to the Members of Ulster-scols Community Network (conlln¢ Year ended 31 March 2025 Auditorfs responsibilities for the audit ot Ihe financial stalements Our objectives are to obtain reasonable assurance about whether the linancial statements as a whole are free from material misstatement, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonate assurance is a high level of assurance, bul is not a guarantee thal an audit conducle¢J in accordance wlh ISAS IUKI wll always detect a material misstatement when it exists. Misslatemenls can arise from Iraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions ol users taken on the basis of these financial slatements. Irregularities, including fraud, are instances ol non<ompliance wlh laws and regulations. We design procedures in line wth our reswnsibilities, outlined above, to delecl material misslatemenls in respect of irregularilies, including fraud. The extent to whbch our procedures are capable of detecting irregularilies, including fraud is detailed below= Our approach to identifw'ng and assessing the risks ol material misstatement in respect of irregularities, induding fraud and non<ompliance with laws and regulations. was as follows: the engagement partner ensured that the engagemenl team collectively had the appropriate compelence, capabilities and skills to identity or recognise non-compliance wth applicable laws and regulations; we identified the laws and regulations aF¥)licable to the company through discussions wilh trustees and other management: - we assessed the extent of compliance bwth the laws and regulations identified above through making enquiries of management and inspecting legal Gorrespondence. and identified laws and regulalions were communirated wthin the audil leam regularfy and the team remained alert to instances of non-complianr2 throughout the audit. We assessed the susceptibility of the companvs financial stalements to material misslatement, including obtaining an understanding ol how fraud might occur, by: making enquiries of management as to where they considered there was susceptibility to fraud, their knovAedge of actual, suspected and alleged fraud; and considering the internal controls in place to mitigate risks of fraud and non<ompliance wrth laws and regulations. To address the risk of Iraud through management bias and override of conlrols, we.. - perfom)ed analjrtical procedures to identity any unusual or unexpected relationships,. lested journal enlries to identrfy unusual transactions,. and assessed whether judgements and assumptions made in determining the accounting estimates sel oul in note 3 were indicattve of potential bias. In response to the risk of irregularities arKI non<ompliance wlh laws and regulations, we designed procedures which included, bul were not limited lo= agreeing linancial statement disclosures to underljfj'ng supporting documenlation., 12-
Ulster-scots Community Network Company Limited by Guarantee Independent Auditor's Report lo the Members of Ulster-scots Community Network (contin{) Year ended 31 March 2025 reading the minutes of meetings of Ihose charged with governance: and enquiring of management as to actual and potenbal litigation and claims. There are inherent limitations in our audtt procedures described above. The more removed that laws and regulations are from financial transaclions, Ihe less likely it is Ihal we would become aware ol non- compliance. Audiling standards also limil Ihe audit procedures required to identrfy non-compliance with laws and regulations to enquiry of the directors and other management and the inspection ol regulatory and legal correspondence, if any. Material misstatements Ihat arise due to fraud can be harder to detect Ihan 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 Txofessional judgment and maintain professional scepticism Ihroughoul Ihe audit. We also- Identify and assess the risks ol malerial misslatemenl of the financial slatements, whelher due to 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 delecling a material misstalement resulling from fraud is higher Ihan lor one resulting from error, as fraud may involve collusion, forgery. intentional omissions, misrepresentats'ons, or the override of internal control. Oblain an understanding of internal contral relevant to the audit in order to design audit procedures that are appropriale in the circumslan¢es, but nol for the purpose of expressing an opinion on the effectiveness of the internal conlrol. Evaluale the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Ihe directors. Conclude on the appropriateness of the directors, use of the going concem basis of accounting and, based on Ihe audit evidence obtained, whether a material uncertainty exisls related to events or conditions thal may cast significant doubt on the charity's ability lo continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attenlion in our auditor's report to the related disclosures in the financial slatements or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audil evidence obtained up to the dale of our auditor's rep)rt. However. future events or condrtions may cause Ihe charity lo cease to conlinue as a going concern. Evaluate the overall presenlation. structure and content of the financial statements, including ihe disclosLJres, and whether the financial stalements represent the urKlerlwng transactions and events in a manner that achieves lair presentation. 13-
Ulster-scots Community Network Company Limited by Guarantee Independent Auditor's Report to the Members of Ulster-scots Community Network (Con11nl) Year ended 31 March 2025 We Communicate ryth those charged Vth governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control Ihal we identify during our audit. Use ot our report This report is made solely lo Ihe charivs members, as a body. in accordance wth Chapler 3 of Part 16 of the companies Act 2006. Our audit work has been undertaken so that we might stale to the charitvs members those matters we are required lo state to them in an auditorfs reporl and lor no other purpose. To Ihe fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charilys members as a try, for our audit work. for this report, or for the opinions we have formed. John Magee (Senior Slalutory Auditor) For and on behalf of Aubrey Campbell & Company Chartered accountants & slalutory auditor 631 Lisburn Road Belfasl BT9 7GT 19 December 2025 14-
Ulster-scots Community Network Company Limited by Guarantee Statement of Financial Aclivities (including income and expenditure account) Year ended 31 March 2025 2025 Restricted funds Tolal funds Total funds 2024 No Incorne and endowments Donations and legacies Other trading aclivities Investment income 434,651 2,315 586 434,651 2,315 586 444,118 3,651 552 Total Income 437.552 437,552 448,321 Expenditure Expenditure on raising funds- Costs of other trading activities Expenditure on charitable activities Tolal expenditure 296 (7,307) (457,0941 ' (457,094) (472.452) (456.798) (456,798) (479,7591 9,10 Net expendilure and nel movement In funds 119,246) (19,246) (31,438) Reconciliation ol lunds Total funds broughl forward Tolal funds carrled lorward 213,792 213,792 194,546 245,230 194.546 213,792 The statement of financial aclivities includes all gains and losses recognised in the year. All income and expendilure derive from continuing activities. The notes on pages 18 to 27 fomi part of these flnanclal statements. 15-
Ulster-scots Community Network Company Limited by Guarantee Statemenl of Financial Position 31 March 2025 2025 2024 Note Fixed assets Tangible fixed assets 15 5,008 10,519 Current assets Stocks Debtors Cash at bank and in hand 16 17 11,570 29,200 164,888 205,658 5,443 9,463 205,485 220,391 Creditors: amounts falling due wlthln one year Net ¢urrenl assets 18 16,120 17,118 189,538 203,273 Total assets less current liabilities 194,546 213,792 Net assels 194,546 213,792 Funds of the charity Restricted lunds 194,546 194,546 213.792 Total charity funds 20 213,792 The statement of financial position continues on the following page. The notes on pages 18 10 27 form part of the8e flnanclal statements. 16-
Ulster-scots Community Network Company Limited by Guarantee Statement of Financial Position (contlnuedj 31 March 2025 These financial slalemenls were approved by the board of trustees and authorised for issue on 19 December 2025, and are signed on behalf of the board by: Mrs. E. Cameron Director Mrs. L. Director holland Mrs. A. Smyth Director Mr. N. Mccausland Chairman Mr. G. Campbell Director Mrs. C. Evans Direclor Mr. W. Carlile Director Mr M. Smylh Director The notes on pages 18 10 27 torrn part of Ihese financlal statementA. 17-
Ulster-scots Community Network Company Limited by Guarantee Notes lo Ihe Financial Statements Year ended 31 March 2025 General infomiation The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northem Ireland. The address of the registered off ice is 1-9 Vicloria Street, Bellast, BT1 3GA. Slatemenl ot compliance These financial statements have been prepared in cornpliance with FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Slatement of Recommended PractiGe applicable lo charities preparing iheir accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland (FRS 1021 (Charities SOAP IFRS 10211 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 revalualion of certain financial assets and liabiltties arKI investment properties measured at laif value through income or expenditure. The financial slalements are prepared in sterling, which is the functional currency ot Ihe entity. Going concern The Ulster-scots Communty Network (USCN) remains dependent upon grant assistance from The Ulster-scols Agency, providing the chartty with funds to facilitate core expenditure. Total income recognised in Ihe 2024125 financial statements from the Ulsler-scots Agency amounted to £389,634. Discussions are ongoing with the Ulster-scots Agency lo secure future funding of this nalure. Specifically: a letter ol otter - although expected - has yel to be received. As has been the case in previous year5, Ihe liming ol grants receipt5 adds to the overall deficil, as expenditure is often incurred in advance. The eflorts made by the USCN to diversify its funding base and to ensure that the charity's activity leve15 and outreach are maintained Continues to bear Iruil, following a successful application for 3 years lunding to Dormant Assets Nl (delivered via the Nalional Lottery Community Fund). In lerms of expenditure, overheads required lo maintain service levels remain relatively steady, and Ihe directors do not envisage Ihal Ihis situation 11 change in Ihe short to medium term. The directors acknowledge that signrficanl reliance is placed on one funder. and thal a material reduction to current levels of financial assistance from this source will inevitably have an aff ecl on the effectiveness of the organisation. Whilst Ihe directors are are not aware ol any reason why the Ulster-scots Agencys financial support mighl be wlhdrawn, there remains a material uncertainty that may casl doubt upon the ability of the charity lo continue as a going concern and, therefore, il may be be unable to realise assets and discharge liabilities in the normal course of business. The financial statements are prepared on a going concern basis. and do not contain any adjustments that woukl fesull if fulure funding was unavailable. 18-
Ulster-scots Community Network Company Limited by Guarantee Notes to the Financial Stalements (contin( Year ended 31 March 2025 Accountlng policies (contind} Judgements and key sources of esllmation uncertainty The preparation of the financial stalements requires management to make judgements, estimates and assumpiions Ihal aff ect the amounts rep)rted. These estimates and judgements are continually reviewed and are based on experience and other faclors, including expectations of future events that are believed to be reasonable under the circumstances. Income tax The cornpany is registered as a chartty for tax purposes under reference XR19610. The directors consider that all income received and expendilure incurred is relaled to the companvs charitable objects and, hence, the company is not subject to corporation lax on any surpluses. Fund accounting Funds held by Ihe charity are eilher: Unrestricted general funds - these are funds which can be used in accordance with Ihe charitable objects at the discretion of the directors. Designated funds - these are lunds set aside by the directors out of unTestri¢ted funds for specific future purposes or projects. Reslricled 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 restricled purposes. Incoming resources All incoming resources are included in the statement of financial activities when enlitlemenl has passed to the charity., it is probable thal the economic benefits associated Vlfjth the Iransaction will flow to the charity and the amount can be reliably measured. The folloMng specific policies are applied to particular categories ol income- income from donations or grants is recognised when Ihere is evidence of entillement to the gift, receipi is probable and ils amount can be measured reliably. legacy income is recognised en receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical lo measure reliably. in which case the value is derived from Ihe cost to the donor or the estimated resale value. Donated facilities and seNces are recognised in the accounts when received if the value can be reliabty rneasured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is reGognised with Ihe delivery of the contracted serrfice. This is classified as unrestricled funds unless there is a contractual requirement lor it lo be spent on a particular purwse and returned rf unspent. in which case it may be regarded as restricled. 19-
Ulster-scots Community Network Company Limited by Guarantee Notes lo the Financial Statements (conllnwd) Year ended 31 March 2025 Accounting policies {cOnlin) Resources expended Resources expended are included in the slatement of Financial Activities on an accruals basis. inclusive of any VAT which cannot be recovered. Liabilities are recognised as resources expended as soon as there is a legal or constructive oblbgation committing the charity to expenditure. Certain expendilure is directly attribulable lo specific actiwlies and has been included in those cost categories. Any common cosls have been allocated to programme costs as part of funding budgets. Costs of generating funds comprise the costs associated vth attracting voluntary income and the costs of trading for fundraising purposes including the chariws restauranl. Charilable activities, cosls comprise those cosls 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 Ihem. Governance costs include those costs associated with meeting the constitutional and stalutory requirements of the charity and include ilems such as audr( tees and costs linked lo Ihe slralegic management of the charty. Tangible assets All lixed assets are inilialty recorded at cosl less accumulated depreciation. Depreciation is provided at rates calculated lo write off the cost ol each asset over ils expected useful lile. The carrying values of langible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicale the carrying value may not be recoverable. Depreclalion Deprecialion is calculated so as lo write off the cost OT valuation of an assel. less its residual value, over the useful economic life of that assel as follows.. FixtLtres and Fittings Off ice Equipment 20°/o Straighl line 20°/o Straight line Impairment of lixed assels A review for indicators of impairment is carried out at each reporting date, with the recoverable amounl being estimated where such indicators exisl. Where the Carrng value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairmenls are also reviewed for possible reversal al each reporting dale. For the purposes of impairment testing, when il is not possible lo estimate the recoverable amount of an individual asset. an estimale is made ol the recoverable amount of Ihe cash- generating unit to which the asset belongs. The cash-generating unil is Ihe smallesl identifiable group of assels Ihal includes the asset and generates cash inflows that largely independent of the cash inllows from other assets Of groups of assets. -20-
Ulster-scots Community Network Company Limited by Guarantee Notes to the Financial Staiements (ctyltlnued) Year ended 31 March 2025 Accounting policies {¢ontinwd) Impairmenl of fixed assets (conlinuedj For impairmenl tesling of goodw'll, the gocmthyill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expeGled to benefil Irom the synergies of the combination, irrespecisve of whether other assets or liabilities of the charity are a$Sned to those units. Stocks Slocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Nel realisable value is the amount for which slock can be sold minus the associated costs of selling il. Financial Inslruments A financial asset or a financial liability is recognised onty when the charity becomes a party to the contractual provisions of Ihe instrument. Basic financial instruments are initiaily recognised at the amount receivable or payable including any related transaction costs. Currenl assels and current liabilities are Subsequen1 measured at the Gash or other consideration expected lo be paid or received and not discounted. Debt instruments are subsequentty measured al amortised cost. Where investrnents in shares are publicly traded or Iheir lair value can olherwise be measured reliably, the investment is subsequently measured at fair value th changes in fair value recognised in income and expenditure. All other such investments are subsequently measured al cost less irnpairmenl. Other financial instruments, including derivatives, are initialty recognised at fair value, unless payment lor an asset is deferred beyond normal business lerm5 or financed at a rate of inleresl that is not a marf(et rate. in which case the asset is measured at the present value of the future payments discounled at a mart<et rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the slalement of financial activsties, 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 al Ihe end of each reporting date. If there is objective evidence ol impairment, an impairmenl 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 irnpairmenl. Other financial assets are either assessed indiwdually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised immedialely, to the extent that Ihe reversal does not result in a carrwng amount of the financial asset that exceeds what the carrying amount would have been had the Impairment not previously been recognised. 21
Ulster-scots Community Network Company Limited by Guarantee Notes to Ihe Financial Slalements IMntinu•d) Year ended 31 March 2025 Accounting policies (conlinwdj Delined contribution plans Contribulions to defined contribution plans are recognised as an expense in Ihe period in which the related service is provided. Prepaid contributions are recognised as an asset to the exlenl that the prepayThenl 11 lead lo a reduclion in future payments or a cash refund. When contributions are not expecled to be settled wholly wlhin 12 months of the end of the reporting dale in vthich the employees render the related seprfice. the liability is measured on a discounted present value basis. The unwinding of Ihe discount is recognisecl as an expense in the period in which it arises. Employee benefits The Gost of any unused holiday entitlemenl is recognised in the period in which the employee's services are received. Termination beneftts are recognised immedialely as an expense when Ihe Charity is demonstrably committed to terminate the eMplOent 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 thIn one year after helshe ceases lo be a member, for payment of the debts and liabilities of the company conlracted before helshe 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 amongsl themselves, such amount as may be required not exceeding £1. Donalions and legacies Restricted Total Funds Funds 2025 Restricted Total Funds Funds 2024 Donations Donations Reimbursemenl from Ulster Scots Agency 6,215 6,215 733 733 5,000 640 640 Grants Granls receivable - Ulster Scots Agency project funding Grants receivable - Ulster Scots Agency core funding Grants receivable - The Arts Council of Nl Grants receivable - U151er Scols Agency Tuition Scheme 750 750 334.888 334.888 408,193 408.193 33,802 33,802 33,802 33,802 54,746 54,746 434,651 434,651 444,118 444,118 -22-
Ulster-scots Community Network Company Limited by Guarantee Notes to the Financial Statements (¢onllnu•d) Year ended 31 March 2025 Other Irading activilies Reslricled Total Funds Funds 2025 Reslricted Total Funds Funds 2024 Fee income Wheen book sales Shop sales 400 400 1,040 156 2,455 1,040 156 2,455 3,651 1.915 1,915 2,315 2,315 3,651 Inveslmenl income Restricled Total Funds Funds 2025 Reslricted Tolal Funds Funds 2024 Bank interest receivable 586 586 552 552 Costs of other Irading aclivities Restricted Tolal Funds Funds 2025 Restricted Total Funds Funds 2024 Costs of other trading actimties - Shop costs {2961 {296) 7,307 7,307 Expenditure on charitable actSvities by fund type Restricted Total Funds Funds 2025 Restricled Total Funds Funds 2024 Ulsler Scots Cultural Advancement Support costs 442,408 14,686 457,094 442,408 14,686 457,094 458,820 13,632 458,820 13,632 472,452 472,452 10. Expenditure on charitable actlvitles by aclivity type Activilies undertaken directly Support costs Total funds 2025 Total fund 2024 Ulster Scols Cultural Advancement Governance costs 442,408 442,408 14,686 458,820 13,632 14,686 442,408 14,686 457.094 472,452 -23-
Ulster-scots Community Network Company Limited by Guarantee Notes to the Financial Stalements (¢ontsnu•d) Year ended 31 March 2025 11. Net expenditure Net expenditure is stated after ChargIn(creditIng). 2025 2024 Depreciation of tangible fixed assets 7,251 7,640 12. Audilors remuneration 2025 2024 Fees payable for Ihe audit of the financial slalements 6,950 5,500 13. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2025 2024 Wages and salaries Social securily costs Employer contributions to pension plans 241,814 20,624 7,872 268,788 22,727 8,415 270,310 299,930 The average head count of employees during the year was 7 (2024.. 8). The average number ol full-time equivalent employees during the year is analysed as follows: 2025 2024 Number of administrative staff Number of management slatt No employee received employee benefits of more than £60,000 during the year (2024.. Nil). 14. Trustee remuneralion and expenses No remuneration or other benefits from employment Yh the charity or a related entity were received by the Iruslees. -24-
Ulster-scots Community Network Company Limited by Guarantee Notes to the Financial Stalements IMntlnu•d) Year ended 31 March 2025 15. Tanglble fixed assels Fixtures and fittings Equipment Total Cost At 1 April 2024 Additions 6,943 1,740 51,338 58,281 1,740 60,021 Al 31 March 2025 8,683 51,338 Depreciation At 1 April 2024 Charge for Ihe year At 31 March 2025 6,271 924 41,491 6,327 47,762 7,251 55,013 7,195 47.818 Carrying amounl At 31 March 2025 1,488 3.520 5,008 At 31 March 2024 672 9.847 10.519 16. Stocks 2025 2024 Raw malerials and consumables 11,570 5,443 17. Debtors 2025 2024 Trade debtors Prepaents and accrued income 16,901 12,299 1,690 7,773 9,463 29,200 18. Creditors: amounts lalllng due within one year 2025 2024 Accruals and deferred income Other creditors 14,905 1,215 16,120 15.233 1.885 17,118 19. Pensions and other post retiremenl benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £7.872 (2024.. £8.415). 25-
Ulster-scots Community Network Company Limited by Guarantee Notes to the Financial Statements Iconllftued) Year ended 31 March 2025 20. Analysis of charitable funds Unrestricted lunds Al 31 March 202 Al 1 April 2024 Income Expenditure At 31 March 202 At 1 April 2023 Income Expenditure Restricted funds Al 31 March 202 At 1 Apn'l 2024 Income Expenditure Restricted Funds Restricted fund - DFC Restricted fund - Co-operation Ireland Restricted fund Ulster Scols Agency Restricled fund - National Herilage Grant Restricled fund - Scottish Book TTUSt Grant for Wheen Restricted fund - DFC Capital Equipment Grant 144,189 200 382,806 (387,4561 139,539 200 39,052 54.746 134,223) 59,575 24,989 132,438) 17.449) 5.362 {2,681) {456,798) 2,681 194,546 213,792 437,552 At 31 March 202 At 1 April 2023 Income Expenditure Restricted Funds Restricted fund - DFC Restricted fund - Co-operation Ireland Restricted fund Ulsler Scols Agency Restricted fund - National Herilage Grant Restricled fund - Scottish Book Trust Grant for Wheen Restricted fund - DFC Capital Equipment Grant 148,022 200 737 39,052 447,038 (450,8711 144,189 200 (737} (750) 750 39,052 49,176 124,187) 24,989 533 (533) 8.043 {2,681) (479,759) 5,362 245,230 448.321 213,792 The directors consider thal all granl funds recetved by Ihe charity are restricted in nature and are applied for the purposes for bthich the grant was made. -26-
Ulster-scots Community Network Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 31 March 2025 21. Analysis ol net assets belween funds Restricted Tolal Funds Funds 2025 Tangible fixed assels Current assets Creditors less than 1 year Net assets 5.008 205,658 116,1201 194,546 205,658 (16,120) 194,546 Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less Ihan 1 year Net assets 10,519 220,391 {17.118) 213,792 10,519 220,391 (17,118) 213,792 22. Operatlng lease commitments The total future minimum lease paents under non-cancellable operaling leases are as follows.. 2025 2024 Not later than 1 year Later than 1 year and not later than S years 100,560 92,180 11,218 192,740 11,218 On 05 November 2025 the charity signed a lease in relation to Ihe renlal of Iheir building, which commenced on 01 March 2025. This disclosure has been made in the accounts due to it's malerial nature. 23. Related partles The directOTS have confirmed Ihat Ihere were no related party transactions during the year. -27-
Ulster-scots Community Network Company Limited by Guarantee Management Information Year ended 31 March 2025 The following pages do nol lomi part of the financial slatemenls. -28-
Ulster-scots Community Network Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2025 2025 2024 Income and endowments Donations and legacles Donations Reimbursement from Ulsler Scots Agency Grants receivable - Ulster Scots Agency project funding Grants receivable - Ulster Scots Agency Core funding Grants receivable - The Arts Council ol Nl Grants receivable - Ulster Scots Agency Tuition Scheme 6,215 5,000 733 640 750 408,193 33,802 334,888 33,802 54,746 434,651 444,118 Other trading activities Fee income Wheen book sdes Shop sales 1,040 156 2,455 1,915 2,315 3,651 Investment income Bank interest receivable 586 552 Total income 437.552 448,321
Ulster-scots Community Network Company Limited by Guarantee Detailed Statemenl of Financial Activities (¢MllnuedJ Year ended 31 March 2025 2025 2024 Expendllure Costs of other Irading activilies Opening slock Purchases Closing slock 5,443 5,831 11,570 <296) 8,853 3.897 5,443 7,307 Expenditure on charitable activities Wages and salaries Ernployer's NIC Pension costs Rent Rates and water Light and heat Repairs and maintenance Insurance Other molornravel costs Legal and professional lees Telephone Other off ice costs Depreciation Other interesi payable and similar charges Advertising Event costs Staff training Returned grant money 241,814 20,624 7,872 76,138 268,788 22,727 8,415 70,400 658 6,696 2.703 3,118 16,084 13,534 6,621 10,303 7,640 492 550 22,413 10,560 750 7,219 1,993 3,080 12,909 8,466 5,551 18,613 7,251 1,140 40,200 3,050 457,094 472,452 Tolal expenditure 456,798 479,759 Net expenditure {19,246) 131 ,4381