2021-03-31-annual-return

Draft Financial Statements at 05 January 2022 at 15:50:08

Charity Registration No. XR21418

Company Registration No. NI033956 (Northern Ireland)

AN DROICHEAD LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2021

Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

LEGAL AND ADMINISTRATIVE INFORMATION

Directors	N McMaster
	K O'Dowd
	P Ó Duinnín
	M B Duffy
	S Hannity
	C O'Connell
Secretary	P Deeds
Charity number	XR21418
Company number	NI033956
Registered office	Larionad An Droichid
	20 Cooke Street
	BELFAST
	BT7 2EP
Auditor	Kearney & Co
	Suite 1
	Fountain Centre
	College Street
	Belfast
	BT1 6ET

Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

CONTENTS

	Page
Directors' report	1 - 4
Statement of Directors' responsibilities	5
Independent auditor's report
Statement of financial activities	6
Balance sheet	7
Statement of cash flows	8
Notes to the financial statements	9 - 18

Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Directors present their report and financial statements for the year ended 31 March 2021.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The charity's objects are specifically restricted to the promotion of the irish language, arts and culture, the promotion of the benefit of the inhabitants who are resident in the south and east Belfast areas in particular but not exclusively.

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The policies adopted in furtherance of these objects are

1. Inform statutory and voluntary agencies, government, the Irish speaking community, and the general public locally, regionally nationally and internationally and act as a forum for the promotion of discussion of research regarding all issues relevant to the Irish language and to groups, projects and initiatives in the area of benefit.

2. Provision of daycare, playgroup and afterschool facilities onsite through the medium of the irish language.

3. Monitor and support the provision of educational research, facilities and practical assistance for Irish medium education, arts, community work and training projects in the area of benefit in the furtherance of the objects.

4. Provide, maintain and equip or assist in the provision, maintenance or equipment of facilities designed to carry out the objects of An Droichead.

5. Promote and carry out or assist in promoting and carrying out research, surveys, investigations and translations and publish the useful results thereof the research, collate and disseminate information from statutory, private sector or other sources relevant to the Irish language organisations and the general public, locally, regionally, nationally and internationally.

6. Organise or assist in organising meetings, lectures, classes, exhibitions, drama, talks, workshops, book launches, pamphlets, leaflets or other documents or communications in furtherance of objects.

7. Procure to be written and printed, published, issued, distributed and circulated reports, periodicals, books, pamphlets, leaflets or other documents or communications in furtherance of objects.

8. Obtain, collect and receive money by way of grants, donations, bequests, legacies or other lawful method, and make or disburse grants or loans for charitable purposes in furtherance of the above objects provided that An Droichead shall not undertake any substantial permanent trading activities.

9. Purchase, take on lease or hire, or otherwise acquire any real personal property and any rights or privileges necessary for the promotion of the above objects and construct, maintain or alter any buildings or erections which An Droichead may think necessary for the promotion of the objects.

10. Make any regulations for any property which may be so acquired.

11. Subject to any consents which may for the time being be required by law, sell, let, mortgage, dispose of or turn to account all or any of the property assets of An Droichead with a view to the furtherance of its objects.

12. Subject to such consents as may be required by law, receive money on deposit or loan, or borrow or raise money in such a manner as An Droichead shall think fit to change any part of the property of An Droichead with repayment of the money so borrowed.

13. Invest the moneys of An Droichead not immediately required for the furtherance of the objects in or upon such investments, securities or property as may be thought fit, subject nevertheless to such consents (if any) as may for the time being be imposed or required by law.

14. Recruit and train volunteers with relevant skills to carry out the objects of An Droichead.

15. Employ and pay any person (not being a member of the management committee) to supervise, organise and carry out the work of An Droichead and make all reasonable and necessary provision for the payment of remuneration to employees.

16. Encourage and organise co-operation between An Droichead and government agencies, local authorities, statutory bodies and voluntary and community bodies with similar aims in any part of the world in pursuit of the objects of An Droichead.

17. 2 -

Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 MARCH 2021

The Directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

Financial review

An Droichead's budget continues to grow, mainly as a result of the additional income from daycare fees. The charity is able to maintain capital commitments and pay off debt comfortably. Funding has been continued with major funders who support the charity. Dependency on rental debtor is no longer relevant due to other sources of income.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The Directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The Directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is a company limited by guarantee . Charity number XR 21418

The Directors who served during the year and up to the date of signature of the financial statements were: N McMaster

K O'Dowd P Ó Duinnín

M B Duffy S Hannity C O'Connell

A director must be a natural person aged 18 years or older.

No-one may be appointed a director if he or she would be disqualified from acting under the provisions of article (72).

The number of directors shall not be less than three but (unless otherwise determined by ordinary resolution) shall not be subject to any maximum.

Directors shall be those persons notified to Companies House as the directors of the company.

Successful candidates arising from interview under article 66 shall be eligible for nomination to the board under the provisions of article 69 or appointment under article 70.

None of the Directors has any beneficial interest in the company. All of the Directors are members of the company and guarantee to contribute £1 in the event of a winding up.

Auditor

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

DIRECTORS' REPORT FOR THE YEAR ENDED 31 MARCH 2021

The Board of An Droichead Limited approved re-appointment of Kearney & co as their auditor for the year.

Disclosure of information to auditor

Each of the Directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Directors' r eport was approved by the Board of Directors.

P Deeds Secretary Dated: 5 January 2022

K O'Dowd Director Dated:5 January 2022

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

STATEMENT OF DIRECTORS' RESPONSIBILITIES

FOR THE YEAR ENDED 31 MARCH 2021

The directors, who also act as trustees for the charitable activities of An Droichead Limited, 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 Directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the Directors are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent; and

• prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time 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.

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021

Unrestricted Restricted funds funds 2021 2021 Notes £ £ Income from: Donations and legacies 3 5,269 - Charitable activities 4 353,046 477,152 Total income 358,315 477,152 Expenditure on: Raising funds 5 195,580 - Charitable activities expenditure 6 182,089 269,852 Total resources expended 377,669 269,852 Net (expenditure)/income for the year/ Net movement in funds (19,354) 207,300 Fund balances at 1 April 2020 229,692 - Fund balances at 31 March 2021 210,338 207,300	TotalUnrestricted Restricted funds funds 2021 2020 2020 £ £ £ 5,269 3,293 - 830,198 348,886 280,638 835,467 352,179 280,638 195,580 191,651 - 451,941 209,768 282,560 647,521 401,419 282,560 187,946 (49,240) (1,922) 229,692 278,933 1,922 417,638 229,693 -	Total 2020 £ 3,293 629,524 632,817 191,651 492,328 683,979 (51,162) 280,855 229,693

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

BALANCE SHEET

AS AT 31 MARCH 2021

Notes Fixed assets Intangible assets 9 Tangible assets 10 Current assets Debtors 11 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 14 Net assets Income funds Restricted funds Unrestricted funds	2021 £ £ 65,380 548,296 613,676 224,031 40,152 264,183 (45,079) 219,104 832,780 (415,142) 417,638 207,300 210,338 417,638	2020 £ £ 53,599 523,806 577,405 202,010 1,789 203,799 (96,982) 106,817 684,222 (454,529) 229,693 - 229,693 229,693

The financial statements were approved by the Directors on 5 January 2022

K O'Dowd

Director

Company Registration No. NI033956

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2021

Notes Cash flows from operating activities Cash generated from/(absorbed by) operations 17 Investing activities Purchase of intangible assets Purchase of tangible fixed assets Net cash used in investing activities Financing activities Repayment of bank loans Net cash used in financing activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year Relating to: Cash at bank and in hand Bank overdrafts included in creditors payable within one year	2021 £ (37,060) (54,129) (3,541)	£ 178,490 (91,189) (3,541) 83,760 (43,608) 40,152 40,152 -	2020 £ - - (26,745)	£ (22,966) - (26,745) (49,711) 6,103 (43,608) 1,789 (45,397)

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

Charity information

An Droichead Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Larionad An Droichid, 20 Cooke Street, BELFAST, BT7 2EP.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's [governing document], the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Directors in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Resources expended

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Capital fees Straight line over 5 years Website

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land & Buildings 2% Straight line Fixtures & Fittings 25% Straight line Buildings 2% Straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.

1.8 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .

1.9 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the Directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

3 Donations and legacies

			Unrestricted	Unrestricted	Unrestricted
				funds	funds
				2021	2020
				£	£
Donations and gifts				-	183
Membership fees				5,269	3,110
Charitable activities
	Charitable	Charitable	Charitable	Total	Charitable
	Income	Income	Income	2021	Income
	Heading 1	Heading 2	Heading 3		Heading 1
	2021	2021	2021		2020
	£	£	£	£	£
Sales within charitable activities	-	-	106,275	106,275	-
Services provided under contract	231,839	-	-	231,839	312,845
Other income	488,431	3,653	-	492,084	316,679
	720,270	3,653	106,275	830,198	629,524
Analysis by fund
Unrestricted funds	243,118	3,653	106,275	353,046	348,886
Restricted funds	477,152	-	-	477,152	280,638
	720,270	3,653	106,275	830,198	629,524

4 Charitable activities

5 Raising funds

	Unrestricted	Unrestricted
	funds	funds
	2021	2020
	£	£
Fundraising and publicity
Membership schemes and social lotteries	1,015	-
Staff costs	194,565	191,651
Fundraising and publicity	195,580	191,651
	195,580	191,651

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

6		Charitable activities expenditure
		Charitable	Charitable Expenditure
		Expenditure
		2021	2020
		£	£
	Staff costs	269,852	282,560
	Depreciation and impairment	54,917	34,698
	Staff Training	386	2,751
	Educational Res & Materials
		11,444	6,093
	Programme expenses
		15,417	32,697
	Heat, Light and Water	5,254	5,653
	Telephone	796	846
	Postage, stationery and advertising	8,927	12,150
	Minibus hire and travel expenses	4,428	10,425
	Professional Fees	(1,732)	3,057
	Subscriptions	1,484	3,566
	Insurance	5,906	4,857
	Repairs & Maintenance	22,830	2,908
	Bank fees & charges	1,510	1,425
	Capital grant release	(16,106)	(16,832)
	Loan interest	11,264	8,571
	Other charitable expenditure	55,364	96,903
		451,941	492,328
		451,941	492,328

Analysis by fund

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2021

6		Charitable activities expenditure	(Continued)
	Unrestricted funds	182,089	209,768
	Restricted funds	269,852	282,560
		451,941	492,328
	For the year ended 31 March 2020
	Unrestricted funds	209,768
	Restricted funds	282,560
		492,328

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

7 Directors

None of the Directors received any remuneration or benefits from the charity during the year. However, two relatives of directors were employees during the year receiving the following: £7,338 per annum £24,202 per annum

8 Employees

The average monthly number employees during the year was:

Employment costs Wages and salaries Other pension costs 9 Intangible fixed assets Capital fees £ Cost At 1 April 2020 89,333 Additions - separately acquired - At 31 March 2021 89,333 Amortisation and impairment At 1 April 2020 35,734 Amortisation charged for the year 17,867 At 31 March 2021 53,601 Carrying amount At 31 March 2021 35,732 At 31 March 2020 53,599	2021 Number 32 2021 £ 449,753 14,664 464,417 Website £ - 37,060 37,060 - 7,412 7,412 29,648 -	2020 Number 32 2020 £ 474,211 - 474,211 Total £ 89,333 37,060 126,393 35,734 25,279 61,013 65,380 53,599

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

10 Tangible fixed assets Cost At 1 April 2020 Additions At 31 March 2021 Depreciation and impairment At 1 April 2020 Depreciation charged in the year At 31 March 2021 Carrying amount At 31 March 2021 At 31 March 2020 11 Debtors Amounts falling due after more than one year: Other debtors 12 Loans and overdrafts Bank overdrafts Bank loans Payable within one year Payable after one year	Land & Buildings Fixtures & Fittings Computers £ £ £ 805,310 - 11,410 - 21,255 32,874 805,310 21,255 44,284 281,504 - 11,411 16,106 5,314 8,218 297,610 5,314 19,629 507,700 15,941 24,655 523,806 - - 2021 £ 2021 £ 224,031 2021 £ - 182,455 182,455 19,740 162,715	Total £ 816,720 54,129 870,849 292,915 29,638 322,553 548,296 523,806 2020 £ 2020 £ 202,010 2020 £ 45,397 185,996 231,393 45,397 185,996

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

13 Creditors: amounts falling due within one year

Notes Bank loans and overdrafts 12 Other creditors 14 Creditors: amounts falling due after more than one year Notes Bank loans 12 Government grants	2021 £ 19,740 25,339 45,079 2021 £ 162,715 252,427 415,142	2020 £ 45,397 51,585 96,982 2020 £ 185,996 268,533 454,529

15 Retirement benefit schemes

Defined contribution schemes

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

The charge to profit or loss in respect of defined contribution schemes was £14,664 (2020 - £120).

16 Related party transactions

There were no disclosable related party transactions during the year (2020 - none).

17 Cash generated from operations Surplus/(deficit) for the year Adjustments for: Depreciation and impairment of tangible fixed assets Movements in working capital: (Increase)/decrease in debtors (Decrease) in creditors (Decrease) in deferred income Cash generated from/(absorbed by) operations	2021 £ 187,946 54,917 (22,021) (26,246) (16,106) 178,490	2020 £ (51,162) 34,698 23,910 (13,580) (16,832) (22,966)

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Draft Financial Statements at 05 January 2022 at 15:50:08 AN DROICHEAD LIMITED

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021

18	Analysis of changes in net (debt)/funds
		At 1 April 2020	Cash flows At 31 March 2021
		£	£	£
	Cash at bank and in hand	1,789	38,363	40,152
	Bank overdrafts	(45,397)	45,397	-
		(43,608)	83,760	40,152
	Loans falling due within one year	-	(19,740)	(19,740)
	Loans falling due after more than one year	(185,996)	23,281	(162,715)
		(229,604)	87,301	(142,303)

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