COMPANY REGISTRATION NUMBER: N1620647 CHARITY REGISTRATION NUMBER: NIC101109 Armagh Pipers Club Company Limited by Guarantee Unaudited Financial Statements 31 July 2023 BUSINESS ACCOUNTS SERVICES Chartered accountants 11 Abbey Street Armagh BT617DX
Armagh Pipers Club Company Limited by Guarantee Financial Statements Year ended 31 July 2023 Page Trustees, annual report (incorporating the director's report) Report to the board of trustees on the preparation of the unaudited statutory financial statements Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 18
Armagh Pipers Club Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 July 2023 The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 July 2023. Reference and administrative details Registered charity name Armagh Pipers Club Charity registratlon number NIC101109 Company reglstratlon number NI820647 Princlpal offlce and registered 12-14 Victoria Street offlce Armagh BT619DT The trustees Bernadette Campbell David Flanagan Eithne Vallely Philip Rea Ruth Acheson Siobhan Scowcroft Thomas sMh John B. Vallely Judith Mcclenahan Company secretary Ciaran O Maoiain Accountants Business Accounts Services Chartered accountants 11 Abbey Street Armagh BT617DX Structure• governance and management The charity is operated as a Company Limited by Guarantee under Articles of Association adopted on 23 September 2013. Ils Board of between five and eleven Trustees, who 8re also the directors of the Company, is elected by and from the membership of the charity. The Trustees and other volunteers are assisted by remunerated administrative support including a Company Secretary. The current members of the Board of Trustees were elected or re-elected at the most recent General Meeting on 18 May 2022.
Armagh Pipers Club Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continuèd) Year ended 31 July 2023 Objectives and activitles The Charity will apply its resources for the advancement of arts and culture, in particular the promotion of Irish traditional music and song, including the related music of Scotland, England, Wales, Brittany, Cape Breton and Asturias. This will be achieved by delivering.. (a) an Educational Programme that will include all or any of the following.. lil weekly classes for the teaching of traditional music and song., lil) publishing and making available books, recordings and other forms of educational media to support weekly classes; lili> an Annual Concert and monthly Family Sessions to develop members, confidence, performance skills and promote intergenerational learning., {iv) acoustic perfomiances, recitals, master-class workshops and cultural exchanges to develop members, skills, technique and repertoire., {vl providing training and mentorship for tutors and students and prepare students for and facilitates formal music examinations., {b} an Artistic Programme that will include all or any of the following.. li) the annual William Kennedy Piping Festival., lil) uilleann pipe m8king workshops, providing education and tuition in pipe making and maintenance., lili) promoting and presenting concerts, master-classes, sessions and other events; (iv) providing Ioc81 musicians with work experience, care8r enhancement and professional engagement opportunities., {v) developing links and working in partnership with other cultural organisations. Achlevemants and performance This is the seventh year of trading for Armagh Pipers Club as a company limited under guarantee. The charity made a net outflow of funds during the year ended 31 July 2023 of £19,343.77. In the year under review the charity saw a further recovery in enrollment in the education programme, to over 180, and some 951 hours of teaching were delivered. The William Kennedy Piping Festival, which had been tentatively revived in 2021, returned in November 2022 on a more ambitious scale, with over 40 musicians. During the year five other events were organised featuring visiting artists, along with a carols concert, a Burns Night celebration, the Club's Annual Concert and numerous family sessions.
Armagh Pipers Club Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢onllnu8d) Year ended 31 July 2023 Financial review The balance on the general fund at 31 July 2023 was £20,447. General Funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. The balance on the restricted fund at 31 July 2023 was £325. In addilion to income generated from tuition fees, the principal funding in the year under review was derived from grant aid from the Arts Council of Northern Ireland's Lottery funding. However, due to a missed application deadline, the Charity did not receive its usual Lottery Project Funding award of £46.500, but a series of smaller Arts Council grants totalling £28,500. The Charity was obliged to draw on its reserves in order to maintain full serwices through the year, and will seek to rebuild the reserves in 2023-24. A Service Level Agreement with Armagh City, Banbridge and Craigavon Borough Council expired in April and a new SLA took effect. 80th the Borough Council and the Arts Council provided grant aid for the Piping Festival, and Culture Ireland provided a Iravel grant to enable musicians to take part in a music festival. Details of all restricted funds are stated separately in these accounts. Small company provlslons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annual report was approved on 29 May 2024 and signed on behalf of the board of trustees by.. John B. Vallely Trustee
Armagh Pipers Club Company Limited by Guarantee Report to the Board of Trustees on the Preparation of the Unaudited Ststutory Financial Statements of Armagh Pipers Club Year ended 31 July 2023 As described on the statement of financial position, the Irustees of Ihe charity are responsible for the preparation of the financial statements for the year ended 31 July 2023, which comprise the statement of financial activities (including income and expenditure account), stalement of financial position and the related notes. You consider that the charity is ex8mpt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these f inancial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations suppli to us. BUSINESS ACCOUNTS SERVICES Chartered accountants 11 Abbey Street Armagh BT617DX 29 May 2024
Armagh Pipers Club Company Limited by Guarantee Statement of Financial Activities {including income and expenditure account) Year ended 31 July 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Income and endowments Donations and legacies Total Income 81.179 46,127 46,127 107,306 107,306 112,226 112,226 61,179 Expenditure Expenditure on raising funds.. Costs of raising donations and legacies Total expendlture 80,848 80,848 45,802 45,802 126,650 126,650 113,436 113,436 Net expendlture and net movement funds (19,6691 325 (19,3441 (1,2101 Reconclllatlon of funds Total funds brought forward Total funds carrlad forward 40,285 40,285 20,941 41,495 40,285 20,616 325 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 7 to 16 form part of these financial ststemonts.
Armagh Pipers Club Company Limited by Guarantee Statement of Financial Position 31 July 2023 2023 2022 Noto Flxed assets Tangible fixed assets 10 27,999 32,800 Current assets Cash at bank and in hand 14,236 29,179 Creditors: amounts falllng due within on8 year Net current liabilities 11 20,334 {6,0981 21,901 20,734 8,445 41,245 Total assets less current liabilities Credltors: amounts falling due after more than one year Nat assets 12 960 960 20,941 40,285 Fund8 of the charity Restricted funds Unrestricted funds 325 20,616 20,941 (9111 41,196 Total charity funds 14 40,285 For the year ending 31 July 2023 the charity was antitled to exemption from audit under section 477 of the Companies Act 2006 relating to small compani&s. Directors, responsibilities.. The members h8ve not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Acl with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 29 May 2024, and are signed on behalf of the board by: John B. V8llely Trustee The notes on pages 7 to 16 forni part of these flnancial statements.
Armagh Pipers Club Company Limited by Guarantee Notes to the Financial Statements Year ended 31 July 2023 General Infomiatlon 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 registered office is 12-14 Victoria Street, Armagh, BT619DT. 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 102) {Charities SORP (FRS 102)) and the Companies Act 2006. Accounting pollcles Reconclllation fund grants Reserves Policy Having regard to Charity Commission's guidance on the desirability of maintaining a reserve to improve the organisation's resilience in the event of an unexpected loss of funding, the trustees had in March 2022 designated as a reserve, within the charity's current account, unreslricted funds of £28,000. The reduced funding from the Arts Council in 2022-23 meant that it had to start drawing on that reserve from early June, with just over £14,000 remaining in Ihe account at year- end. Efforts will be made in 2023-24 to rebuild the reserve to a level capable of sustaining operaiions for several months. Basls of praparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment propertles measured at fair value through income or expenditure. The finsncial statements are prepared in sterling, which is the functional currency of the entity. Golng concern There are no material uncertainties about the charity's ability to continue. Dlsclosure exemptions Armagh Pipers Club satifies the criteria of being a qualified entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. (a) No Cash flow statement has been presented for the company (bl Disclosures in respecty of financial instruments have not been presented
Armagh Pipers Club Company Limited by Guarantee Notes to the Financial Ststements (Continued) Year ended 31 July 2023 Accountlng policies (continued) Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to mske judgements, 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. Fund aceountlng Unrestricted funds are available for use at the discretion of the Irustees to further any of the charity's purposes. Design8ted funds are unreslricted funds earmarked by the trustees for particul8r future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes.. restricted income funds or endowment funds. Incomlng 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 specrfic 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 enlillement 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 valu& is derived from the cost to the donor or the estimaled 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 unreslricted 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.
Armagh Pipers Club Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2023 Accountlng policies (conllnuedj Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activitl8S to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charitsble trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither relaled to raising funds for the charity nor part of its expenditure on charilable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assels are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a resull of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case Ihe loss is shown within other recognised gains and losses on the statement of financial activities. Deprnclation 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 Equipment 200/0 reducing balance 20% reducing balance Impaimient of fixed 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 impairments are also reviewed for possible reversal at each reporting date.
Armagh Pipers Club Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 July 2023 Accounting policies (¢ontlnued) Impairment of fixed assets fcontlnuod) For the purposes of impairment testing, when it 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 smallest 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. For impairment testing of goodwill, the goodwill acquired in a busines8 combination is, from the 8CqUiSltion date, allocaled to each of the cash-generaling units that are expected lo benefit from the synergies of the combinalion, irrespective of whelher other assets or liabilities of the charity 8re assigned to those units. Financial instruments A financial asset or a financial liabi5ity is recognised only when the charity becomes a party to Ihe 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 Gash or other consideration &xpected 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 otherwis8 be measured reliably, the investment 18 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 impairment. 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 relalionship. 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 impairment 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 assels that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. 10
Armagh Pipers Club Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 July 2023 Accounting policies (contlnued) Financial instruments (contlnuod) Any reversals of 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. Llmlted by guarantee The Trustees of the Charity are repsonsible for the debts generated by Ihe Charity in the event that the charrty is wound up. The extent of this guarantee does not exceed £1. Donatlons and legacles Unrestricted Funds Restricted Total Funds Funds 2023 Donations Arts Council of Northern Ireland Other Grants Sponsorship & Donations & Gift Aid Armagh Cily Banbridge & Craigavon BC SLA Fundraising Box Office Returns Registration Fees & Instrument Scheme Performance Fees & Services Fees Sales of books, CDS and Merchandise Exam Fees Sundry Income Armagh City Banbridge & Cragavon BC Festival Grants 30,825 1,002 30,825 1,002 7,701 7,500 1,458 11,088 26,285 2,119 1,887 3,141 7,701 7,500 1,458 11,088 26,285 2,119 1,887 3,141 14,300 46,127 14,300 61,179 107,306 11
Armagh Pipers Club Company Limited by Guarantee Notes to the Financial Statements lcontlnued) Year ended 31 July 2023 Donations and legacies (contlnu•d) Unrestricted Funds Restricted Total Funds Funds 2022 Donations Arts Council of Northern Ireland Other Grants Sponsorship & Donations & Gift Aid Armagh City Banbridge & Craigavon BC SLA Fundraising Box Office Returns Registration Fees & Instrument Scheme Performance Fees & Services Fe8S Sales of books, CDS and Merchandise Exam Fees Sundry Income Armagh City Banbridge & Cragavon BC Festival Grants 46,495 46,495 8,958 12,500 15 5,758 22,945 2,419 2,096 2,040 300 8,958 12,500 15 5,758 22,945 2,419 2,096 2,040 300 8,700 55,195 8,700 112,226 57,031 Costs of ralsing donatlons andlogacles Unrestricted Funds Restricted Total Funds Funds 2023 Costs of raising donations and legacies - Donations 80,848 45,802 126.650 Unrestricted Funds Restricted Total Funds Funds 2022 Costs of raising donations and legacies - Donations 57,330 56,106 113,436 Net expenditure Net expenditure is stated after ¢hargingllcreditingl'. 2023 2022 Depreciation of tangible fixed assets 7,008 8,200 Trustee remuneratlon and expenses In the year to 31 July 2023 the total amount paid to trustees of the ch8rity was £0., 12
Armagh Pipers Club Company Limited by Guarantee Notes to the Financial Statements (contlnuedj Year ended 31 July 2023 Analysis of grants Arts Council of Northern Ireland Small Grant ACN1127279 December. issued £10,000 which was spent on tutor fees from September to Rural Engagement Arts Programme grant ACN1127468 issued £8,500 which was spent as follows.. Piping Festival artist fees £4,050., artist accommodation £4,450. Small Grant ACN1129282 - issued £10,000 which w8s spent on tutor fees from March to June. Armagh City, Banbridge & Craigavon Borough Council Financial Assistance Policy.. 3d International Tourism Events Fund issued £14,300 which was spent as follows.. Piping Festival artist fees £8,480,. production (lighting & soundl £1,675., advertising £715., venue hire £1,030,. administration £2,400. Culture Ireland (an agency of the Department of Tourism, Culture, Arts, Gaeltacht, Sport and Medial Travel grant of E1,200, received as £1,002.23 - spent on travel by three Armagh Pipers Club musicians to represent Ireland at the inaugural GaitaFolia piping festival in Palmela, Portugal. The above grants were issued for Restricted Expenditure as noted. Additional Unrestricted funding was issued as follows.. Armagh City, Banbridge & Craigavon Borough Council Service Level Agreement payments of £7,500 (with an additional £2,500 pending at year end). 13
Armagh Pipers Club Company Limited by Guarantee Notes to the Financial Statements {¢ontlnued) Year ended 31 July 2023 10. Tangible fixed assets Fixtures and fittings Equipment Total Cost At 1 August 2022 Additions 17,544 55,267 2,207 57,474 72,811 2,207 75,018 At 31 July 2023 Depreclation At 1 August 2022 Charge for the year At 31 July 2023 Carrying amount At 31 July 2023 At 31 July 2022 17,544 12,876 934 27,135 6,074 33,209 40,011 7,008 47,019 13,810 3,734 4,668 24,265 28,132 27,999 32,800 11. Croditors: amounts falling due wlthin one year 2023 2022 Bank108ns and overdrafts Trade creditors Accruals and deferred income 159 241 20,334 20,734 20,334 20,334 12. Credltors: amounts falllng due after more than one year 2023 2022 Accruals and deferred income 960 960 13. Deferred Incom• 2023 2022 At 1 August 2022 20,334 20,334 14
Armagh Pipers Club Company Limited by Guarantee Notes to the Financial Statements {¢ontlnu•d) Year ended 31 July 2023 14. Analysis of charitable funds unStrICted funds At Income Expenditure 31 July 2023 At 1 August 2022 General funds Unrestricted fund 40,285 {1) 61,180 61,179 40,284 (19,6681 20,616 180,848) (80,848) 40,285 At Income Expenditure 31 July 2022 At 1 August 2021 General funds Unrestricted fund 41,495 {1) 57,032 57,031 41,495 (299> 41,196 157,331) {57,330) 41,495 Restrlcted funds At Income Expenditure 31 July 2023 At 1 August 2022 Reslricted Fund Restricted Fund 46,127 (45,802} 325 46,127 (45,802} 325 At Income Expenditure 31 July 2022 At 1 August 2021 Reslricted Fund Restricted Fund 55,195 (56,1061 {56,106} (911) 19111 55,195 15
Armagh Pipers Club Company Limited by Guarantee Notes to the Financial Statements (¢oftllnUj Year ended 31 July 2023 15. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net asset8 24,050 14,236 (21,294> 16,992 3,949 27,999 14,236 (21,2941 20,941 3,949 Unrestricted Funds Restricted Total Funds Funds 2022 Tangible fixed assets Current assels Creditors less than 1 year Net assets 29,176 32,627 (21,5361 40,267 3,624 32,800 32,627 (25,1421 40,285 {3,606) 18 16
Armagh Pipers Club Company Limited by Guarantee Management Information Year ended 31 July 2023 The followlng pagas do not fomi part of the financial statements. 17
Armagh Pipers Club Company Limited by Guarantee Detailed Ststement of Financial Activities Year ended 31 July 2023 2023 2022 Income and endowments Donatlons and legacies Arts Council of Northern Ireland Other Grants Sponsorship & Donations & Gift Aid Armagh City Banbridge & Craigavon BC SLA Fundraising Box Office Returns Registration Fees & Instrument Scheme Performance Fees & Services Fees Sales of books, CDS and Merchandise Exam Fees Sundry Income Armagh City Banbridge & Cragavon BC Festival Grants 30,825 1,002 7,701 7,500 1,458 11,088 26.285 2,119 1,887 3,141 46,495 8,958 12,500 15 5,758 22,945 2,419 2,098 2,040 300 8,700 14,300 107,306 112,226 Total Income 107,306 112,226 Expendltura Costs of ralslng Gonatlons and1ogacl8s Artisls Fees Tutors & Contractors Fees Staffing Exam Fees Rent & Venue Co¥ls Other office costs Depreciation Accountancy Bank Charges Advertising & Pririling Travel & Accomrriodation Festival Costs APC Online operations 20,910 28,530 22,899 3,162 20,330 3,336 7,007 960 602 2,844 13,328 1,181 1,561 126,650 6,280 33,100 21,313 1,944 21,206 4,431 8,201 960 428 3,923 9,923 1,727 113,436 Total expendltui? 128,650 113,436 Net expenditrire i 119,344) (1,210) 18