Charity reglstration number XR21418 Company reglslration number N1033956 (Northern Irelandl AN DROICHEAD LIMITED ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
AN DROICHEAD LIMITED LEGALAND ADMINISTRATIVE INFORMATION Dlrectors p O Duinnln MBDuffy M Canning L Glenn M Engman K O'Dowd (Appointed 25 May 2023) (Appointed 4 April 2024) Secretary p O DuinnSn Charily number XR21418 Company number N1033956 Prlnclpal addre88 Larionad An Droichid 20 Cooke Street BELFAST BT7 2EP Registered office Larionad An Droichid 20 Cooke Street BELFAST BT7 2EP Audltor Kearn8y & Co 2nd Floor Donegall House 98-102 Donegall Street Belfast BT12W Bankers Bank Of Ireland 308-310 Ormeau Road Belfast BT7 2GE Solicitor8 Hewitt Gilpin Solicitors Thomas House 14-16 James Street South Belfasl BT2 7GA
AN DROICHEAD LIMITED CONTENTS Page Trustees, report Statement of Trustees, responsibilities Independenl auditor's report Stalernenl of financial activities 10 Balance sheet 11 Statement ofcash flows 12 Notes to the financial slalemenls 13-22
AN DROICHEAD LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The Directors present their annual report and financial slalements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set oul in note 110 the financial stalements and comply with Ihe charity's governing documénl, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounls in accordan with the Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland {FRS 102)° (as amended for accounting periods commencing from 1 January 2016) Reference and admlnlstrative details: Directors N Mcmaster (Resigned 4 April 2024) C O, Connell (Resigned 16 May 2023) p O Duinnln MBDuffy L Glenn A Martin (Resigned 4 April 2024) K O'Dowd (Appointed 4 April 2024) l McGowan (Resigned 4 April 2024) M Canning M Engman (Appointed 25 May 2023) Secretary p O Duinnln Charlty number XR21418 Company number N1033956 Prin¢lpal address Larlonad An Droichld 20 Cooke Slreel BELFAST BT7 2EP Registered office Larionad An Droichid 20 Cooke Street BELFAST BT7 2EP Audltor Keamey & Co Donegall House 2nd Floor 98-102 Donegall Slreel Belfasl BTI 2GW Bankers Bank Of Ireland 306-310 Ormeau Road Belfasl BT7 2GE Solicitors Hewill Gilpin Solicitors Thomas House 14-16 James Street South Belfasl BT2 7GA
AN DROICHEAD LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Objectlves and activities The company's objects are specifically restricled lo the promotion of the Irish language, arts and culture, the promolion and advancement of education through the medium of Irish languag&, and the promotion of the benefil of the inhabilants (herein8fter called "Ihe beneficiaries,) who arè residenl in the Soulh and East Belfast areas in particular but not exclusively (hereinafter Called the "8re8 of b8nefit') without distinction of age. gender, disability, sexual orientation. nationality, ethnic identity, political or religious opinion, by associating the slalulory authorities, ommunily and voluntary organisations and the inhabitants in a common effort to advance education and the promolion of Irish language and culture and ID provide facilities in the interests of social welfare for recreation or olher leisure-time occupation, wilh the object of improving the conditions of life for the said beneficiaries and in particular.. a. to prornole the benefit of the public and advan education in all matters relating lo th8 Irish la nguage, arts, music, crafts and Irish cullural herilag&', b. to establish or secure or assist in the securing of the establishment of arts and cultural facililies and lo maintain or manage or c¢>operate with any stalutory authorily in the maintenance and managomenl of such facilities for activities promoted by the company in furtherance of the above objects., c. to maintaln, develop and manage or co-op8rat8 with any local education authority or statutory body in the maintenance and managemenl of pre-school, primary school, afterschool and youth facilities educational and recreational facilities through the medium of Irish in the inl8rests of social welfare for children, young people and their paienls,. d. to provlde and facilitate training for par8nts and carers of children in child development, parenting and other appropriate subjects., e. to promote or as51sI in promoting capacity building programmes and projects for the benefit of Ihe inhabilants within the area of benefit who have need of such assistance as a result of their youth, age, disability or infirmity, or social and economic circumstances. in an effort to increase the abilities, skills, self-esleem and Self-confiden of such communities in lh8 area of benefit so that their conditions of lif8 may be improved; f. to advance any other exclusively ch8ritable purpose 8S tho directors, may from time to lime, decide in accordance with the law of charily.
AN DROICHEAD LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 The policies adopted in furtherance of these objects are 1. Inform slalulory and voluntary agencies. government, the Irish speaking community, and the general public locally, regionally nationally and internalionally and aci as a forum for the promotion of dis¢ussion of research regarding all issues relevant lo the Irish language and to groups, projects and initiatives in the area of benefit. 2. Provision of daycare, playgroup and afterschool facilitie5 onsite Ihrou9h the medium of the irish languago. 3. Monitor and support the provision of educational research, facilities and practical assistance fof Irish medium education, arts, communily work and training projects in the area of bènefit in the fltrrtheran of the objects. 4. Provide, maintain and equip or assSst In the provision, maintenance or equipment of facilities designed to carry out the objects ofAn Droichead. 5. Promote and carry oul or assisl in promoting and carrying out research, surveys, investigations and translations and publish th8 useful results thereof thè research, collate and disseminate informalion from slalulory, private sector or other sources relevant to the Irish language organisalions and Ihe general public, locally, regionally, nationally and internationally, 6. Organise or assist in organising meetings, lectures, classes, exhibitions, drama, talks, workshops, b¢xJk launches, pamphlets. leallels or other documents or communications in furtheiance of objects. 7. Procure to be wrillen and prlnted, published, Issued, dlstribuled and circulated reports, periodicals, books, pamphlets, leaflets or other documenls or communications in furtherance of objeds. 8. Obtain, colleGI and receive money by way of grants, donations, bequests, legacies or olher 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 subslantial permanent trading activities. 9, Purchas8, lake 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 conslrucl, maintain or aller 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 lo any consents which may for Ihe lime being be required by law, sell, let, mortgage, disrx)se of or turn lo account all or any of the property assets of An Droiohead with a view to the furtherance of ils objects, 12. Subject to such consenls 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 fil lo change any part of the property of An Oroichead with repaymenl 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 fil, subject nevertheless lo such consents (if any) as may for the time being be imposed or required by law. 14. ReGruit and train volunleers wilh Televant skills lo carry out the objects of An Droichead. 15. Employ and pay any person (not being a member of the management commiltee) to supervise, organise and carry oul the work of An Droichead and make all reasonable and necessary provision for the payment of remuneration lo employees. 16. Encourage and organise co-operation between An Droichead and government agencies, local authorities, stalulory bodies and voluntary and community bodies with similar aims in any part of the world in pursuit of the objects of An Droichead.
AN DROICHEAD LIMITED TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 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'5 income from day care fees continues to improve. An Droi¢head continues t¢ rely upon grants and day care fees to mainialn Ils operating costs. The deficit for the year of £158,164 includes legal fees paid of £97,425 and 8 bad debt write off of £22,575 relating to monies owed from a third party. Surplus in 2023.. £48,366 The directors plan a significant expansion of the day care provision through an extension of Ihe premises in the next tWQ years. The directors will continue with the provlslon of day Care, playgroup facllitSes at Its main site through the medium of Ihe Irish language. An Droichead has a risk management policy in place under which risks ar8 identified and r8viewed by managemenl on a regular basis. Procedures are in place to manage Ihe risks. 11 is the policy of the charity thal unrestricted funds which have not been designated foi a specffic use should be mainlained at a level equivalent lo between three 8nd six month's expenditure. The Directors consider that reserves at this level will ensure that, in the event of a significant drop in fvnding, they will b8 able to continue th8 chaTily's current acllvilies while ¢¢nsideralion is given to ways in which additional funds may be raised. This level of reserves has been mainlained Ihroughoul the year. The Oirectors have assessed the major risks lo which the charity is exposed, and are satisfied that Systems are in place to mitigate exposure lo the major risks. Structure, governance and management The tharily is a company limited by guarantee incorporated on 2nd April 1998 and re9islered as a charity with The Charily Commission for Northern Ireland. The company was established under a Memorandum ofAssoclalion and Is governed by itsArticles of Association. The Directors who served duling the year and up lo the dale of signature of the financial statements were- N Mcmasler (Resigned 4 April 20241 P O Duinnln MBDuffy C O'connell M Canning L Glenn A Marlin l McGowan M Engman K O'Dowd (Resigned 16 May 2023) (Resigned 4 April 20241 (Resigned 4 April 20241 (Appointed 25 May 2023) (Appointed 4 April 2024)
AN DROICHEAD LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Recrultment and appolntment of management committee The directors of the company are also charily Iruslees for the purposes of Charity Law. Under the requirements of the Memorandum and Articles of Associalion directors are elected at an Annual General Meeting by the members (in person, or through an aulhorised representative or by proxy). A retiring director shall, be eligible for rfr nomination and election provided thal no director shall serve more than four consecutive three year terms on the board. In the case of a retiring director who has served for a tolal period of twelve consecutive years, helshe shall not be eligible for re-election to serve as a director for any further period until at least 12 months has expired since the end of hislher ninth year in office. All new directors receiv8 in-house induction and training appropriale lo their roles. None of the Directors has any beneficlal Snleresl in the company. All of the Directors are members of Ihe company and guarantee to contribule £1 in the event ofa winding up. Organisational Structure An Droichead ha5 a Managemenl Comrnillee, fflade up ofTrusle8s, Th8 Commillee mèets regularly and are responsible for the strategic direclion and policy of the charity. The day to day responsibility for Ihe provision of the services rests with the Chief Ixe¢ulive. Key management personnel pay rates are agreed by the Trustees. Audltor The Board ofAn Droichead Limited approved re-appointment of Kearney & co as their auditor for the year.
AN DROICHEAD LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Disclosure of information to auditor Each of the Directors has confirmed Ihat there is no information of which they are aware which is relevanl lo the audit, but of which the auditor is unawaie. Th&y have further confirmed that Ihey have taken appropriate steps lo identify such relevant information and lo establish that Ihe auditor is awarè of such information. The Trustees, report was approved by the Board of Directors. L Glenn Truste8 Dated.. 30 April 2025
AN DROICHEAD LIMITED STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The directors, who also act as trustees for the charitable activities of An Droichead Limited, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and Uniled Kingdom Accounting Standards (United Kingdom Generally AGGepted Accounting Practice). Company Law requires the Directors to prepare financial statemènts for each financi81 year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure. of the charitable company for Ihat year. In preparing these financial statements, the Directors are required lo.. select suitable accounting policies and then apply them consislenlly., observe the methods and principles in the Charities SORP; make judgemenls and eslimales 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 accounling Tecords that disclose with reasonable accuracy al any lime the financial position of the charity and enable them lo ensure that the financial slalemen Is comply with the Companies Act 20(. They are also responsible for safeguarding the assels of the ch8rily and hence for taking reasonable steps for the prevention and delection of fraud and other irr8gularilies.
AN DROICHEAD LIMITED INDEPENDENT AUDITOR'S REPORT TO THE DIRECTORS OF AM DROICHEAD LIMITED Opinlon We have audited the financial slatements of An Droichead Limited (Ihe 'charity'> for the year ended 31 March 2024 which comprise the slalement of financial activities. the balance she6t, the statement of cash flows and notes to Ihe financial statemenls, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Financial Reporting Sland8rd applicable in the UK and R&public of Iland (United Kingdom Generally Accepted Accounling Practice) In our opinion, the financial stat8m8nts'. glve a true and fair view of the stalo of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, includlng ils income and expenditure, for the year then ended., have been properly prepared in accordan with United Kingdom Generally Accepted Accounting Practi. and have been prepared in accordance with Ihe requirernents of lh8 Compani88 Act 2006. Ba818 for oplnion We conducted our audit in accordanc8 with International Standards on Auditing (UK) (ISAS (UKII and applicable law. Our responsibilities under those standards are further described in the Audiloffs responsibilitics for tho audit ol Ihe financial st81ements section of our report. We are independent of the charity in accordance wilh Ihe ethical requirements that are relevant lo our audit of the financial statements in the UK, including the FRC'S Ethical Slandard, and we have fulfilled our other olhical responsibililies in accordance with these requirements. We believe that Ihe audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In audiling the financial statements, we have concluded that the Truslees, use of the golng concern basls of accounling in the preparation of the financial slalemenls is appropriate. Based on the work we have performed, we have not idenlifled any material uncertainlies relating to events or condilions thal. individually or collectively, may cast significant doubt on the charity's ability lo conlinue a6 a going concern for a period of at least twelve months from when the financial slalements are authorised for Issue. Our responsibililies and the responsibilities of Ihe Directors with respect lo going concern are described in the relevant sections of this report. Other Information The other informalion comprises the information included in the annual report other than the finala1 slalemenls and our auditor's report Ihereon, The DireclDrs are responsible for the other information contained wilhin the annual reporl. Our opinion on the financial statements does not cover the other information and, except to the extent otheiSe explicitly slated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is matèrially Inconsislent wilh the financial statements or our knowledge oblained in the course of Ihe audit. or otherwise appears to be materially misstated. If we idenlify such matcrial incon51slen¢ies or apparent material misslatements, we are required to delermine whether this gives rise to a material misslalemenl in the financial slatements Ihemselves. If, based on the work we have performed. we conclude Ihal there is a material misslatemenl of this other information, we are required lo report that fact. We have nothing to report in this regard. Opinlons on other matters prescribed by the Companies Act 2006 Sn our opinion, based on the work underiaken in the course of our audit: the information given in the Trustees, reporl for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consislent with the financial statements., and the directors, report included within the Trustees, report has been prepared in accordance wilh applicable legal requirements.
AN DROICHEAD LIMITED INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE DIRECTORS OF AN DROICHEAD LIMITED Matters on whlch we are requlred to report by exception In the lighl of Ihe knowledge and underslanding of the charity and ils environment obtained in the course of Ihe audit. we have not id&ntified material misslalements in the directors, report included within the Trustees. report. We have nothing lo report in respect of the following matters in relation lo which Ihe Companies Act 2006 requires us lo report lo you if. in our opinion-. adequate accounting records have nol been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial stalemenls are not in agreement with the accounling records and returns., or cerlain disdosures of trustees, remuneration specified by law are not made. or we have not reGeived all Ihe information and explanations we require for our audit., or the Directors were not enlilled to prepare the financial statements in accordance with the small companies regime and take advanlage of lh6 small companies, exemptions in preparing Ihe Trustees. report and from the requirement to prepare a slralegic report. Responsibilitle$ of Directors As explained more fully in Ihe stalemenl of Trustees. responsibilities, the Directors are responsible for the prepaialion of the financial slatomonls and for being satisfied that they give a true and fair view. 8nd for such internal control as Ihe Directors determine is neSSary to enable the proparalion of financial slalemenls thal are free from rnaterial missl8lement, whether due to fraud or error. In preparing the financial slalemenls, the Directors are responsible for assessing the charity's ability to conlinue as a going concern, disclosing, as applicable, matters relaled lo going concern and using the going concern basis of accounting unless Ihe Directors ellher inlend lo liquidate the charitable company or to cease operations, or have no realistic altefnalive bul to do so. Audltor'8 re8ponslbllltles for the audlt of the flnanclal 8tatements Our objectives are to oblain reasonable assurance about whelher the financial statements as a whole are free from material misslalement, whether due lo fraud or error, Énd lo issue an auditor's report that includes our opinion. Reasonable assuran is a high level of assurance bul is not a guarantee that an audil conducted in accordance wth ISAS (UK) will always detect a material misstatement when il exists. Misslatemenls can arise from fraud or error and are considered malerial if, individually or in Ihe aggrogate, they could reasonably be expected to influenGe the economic decisioiis of users taken on the basis of these financial statements. The extent to which our procedures ar8 capable of d8tecling irregul8rilie8, induding fraud, is detailed below. A further description of our responsibilities is available on the Flnancial ReportSng Councll's website al.. hllPS'.11 www.ffc.org.uklauditorsresponsibililies. This description forms part of our audito¢s report. This report is made solely lo the company's mernbers, a5 a body, in accordance with chapter 3 of part 16 of the Companies Act 2006 and regulations made under Ihat Act, Our audit work has been undertaken so Ihal we might stale lo the company's members Ihose mallers we are required lo slate lo thom in an auditoi's report and for no olher purpose. To the fullest exlenl permitted by law, we do not accept or assume responsibility lo anyone other than the company and the company's member5 as a body, for our audit work, for Ihis report, or for the opinions we have forrned. May Gibbons (Senio for and on behalf of Statutory Auditor) , earney & Co 30 April 2025 Chartered Accountants Statutory Auditor 2nd Floor Doneg811 House 98-102 Donegall Street Belfasl BT12W
AN DROICHEAD LIMITED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestrlctod Re8tri¢ted funds fLtnds 2024 2024 Total Unrestricted Restricted funds funds 2023 2023 Total 2024 2023 Notes Income from: Oonalions and legacie5 Charitable activities Other trading activities 4,369 523,184 12,920 4,369 934,893 12,920 4,420 657,978 12,350 4.420 367,382 1,015,370 12.350 411,709 Total income 540,473 411,709 952,182 674,748 357,392 1,032,140 Expendlture on: Charitable activities 698,637 411,709 1,110,346 626,382 357,392 983.774 Tolal expendlture 698,637 411,709 1,110,346 626,382 357,392 983,774 Net Incomellexpendlture) and movement in fund8 {158,164} (158.164) 48,366 48,386 Reconclliation of funds: Fund balances 811 April 2023 299,648 299,648 251,282 251,282 Fund balances at 31 March 2024 141,484 141,484 299,648 299,648 The statement of financial activities includes all gains 8nd losses recognised in the year. All income and expenditure derive from continuing activities. 10-
AN DROICHEAD LIMITED BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets 12 488,766 509,739 Current assets Debtors Cash al bank and in hand 13 46.737 2,439 183,385 16,665 49,176 200,050 Creditors.. amounts falllng due withln one year 15 (71,170) 161,5461 Net current Iliabilitlesllassets {21,9941 138,504 Total assets less current Ilabllltles 466,772 648,243 Creditor8.' amounts falllng due after moro than one year 18 1325,288) (348,595) Net assets excluding penslon Ilablllty 141,484 299,648 Net assets 141,484 299,648 The fund8 of the charity Unreslricled funds 141,484 299,648 141,484 299.648 The finanGial statements were approved by the Directors on 30 April 2025 L Glenn Trust90 Company registration number N1033956 (Northern Ireland) 11
AN DROICHEAD LIMITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Notes Cash flows from operatlng activities Cash (absorbed by)Igenerated from operalions 20 {14,949) 30,783 Net cash used In Investing activities Flnanclng actlvltles Repayment of bank loans (7,201) (9,367) Nat cash used in flnanclng activities {7,201) (9,367) Net Idecrea8e)Ilncrease In cash and cash equSvalents 122,150) 21.416 Cash and cash equivalents at b8ginning of year 16,665 (4,751 > Cash and ¢ash equivalents at end of year (5,485) 16.665 Relating to: Cash at bank and in hand Bank overdrafts included in credllors payable within one year 2,439 16,665 (7,9241 12
AN DROICHEAD LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 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 Streol, BELFAST, BT7 2EP. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charity's Igoverning documenll, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Iieland ("FRS 102 ) and the Charilies SORP "Accounling and Reporting by Charities. Slalemenl ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 1021" (effective 1 January 2019). Th8 charity is a Public Benefit Enlily as defined by FRS 102. The financial statements ar& prepared in sterling, which is the functional currency of the charity, Monetary amounts in these financial statements are rounded to the nearest £. The financial slatemenls have been prepared under the historical cost convention, Imodified lo Includ6 the revaludlion of freehold properties and to include investment properties and certain financial instruments al f8ir value]. The principal accounting policies adopted are sel out below. 1.2 Going concern At the time of approving the financial stalemenls, Ihe Directors have a reasonable expectation that the charily has adequate resour$ lo continue In operational existence for the foreseeable future. Thus th6 Directors conlinue to adopl the going conrn basis of accounting in preparing the financial statements. 1.3 ChaTitablo funds Unrestricted funds are available for use at the discretion of Ihe Directors in further8nce of their charitable objeclives. Roslricled funds are subject lo specific conditions by donors or gr8nlors 8$ to how they may be used, The purposes and uses of the reslricted funds ale sel out in the notes lo the financial stalemenls. Endowment funds are subjecl to specific conditions by donors that the capll81 musl be maintained by the charity. 1.4 Income Income is recognised when the charily is legally entitled lo it after any performance condllions have been met, the amounts can be measured rellably, and il is probable thal income will be received Cash donations are recognised on receipl. Other donations are recognised once the charity has been notified of the donation, unless performance condilions require deferral of the amount. Income lax recoverable in relation lo donalions received under Gift Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been nolified of an impending dislribulion, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated SS 8 conlingenl asset. 1.5 Expendituro All expenditure is recognised on an accruals basis as a liability and is incurred and classified u nder headings that 8ggregale all cost related to the category. Expenditure on charitable aclivilies are costs incurred on the companies charitable operations including support costs and costs relating lo Ihe govemance to the company apportioned to charitable aclivales. 13
AN DROICHEAD LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcies (Continued) 1.6 Tangible fixed assets Tangible fixed assets are slated at cost net of deprecialion and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Land & Buildings Fixtures & Fillings Computers 2Yo Straight line 250/0 Straight line 250/0 Reducing balance The gain or loss arisin9 on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of Ihe asset, and is recognised in the statement of financial aclivilies. 1.7 Impairment of flxed assets Al each reporting end dale. Ihe charity reviews Ihe carrying amounts of ils langible and intangible assets lo determine whether there 16 any indication that those assets have suffered an impairmont loss. If any suth indicatio)n exisls, the recoverable amount of the asset is eslimaled in order lo determine the extent of the impairment loss (if any). 1.8 Cash and cash equlvalonts Cash and cash equivalents include cash in hand, deposlls held at call with banks, other shori-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilitl8S. 1.9 Financial instruments The charity ha5 elected lo apply Ihe provisions of Section 11 'Basic Financial Instruments, and Secllon 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charity's balance sheel when Ihe charity becomes party lo the contraclual provisions of the instrument. Financial assets and liabilities are offset, with the nel amounts presented in the financial slalements, when there is a legally enforc£able right lo sel off the recogni5ed amounls and there is an intenlion to settle on a net basis or to realise the assel and Settle the liability simultaneously. Basic flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including Iransaclion cosls and are subsequently carried at amortised cost using the effective interest method unless the arrangernenl constitutes a financing transaction, where the transaclion is measured al Ihe present value of Ihe future receipls discounled at a market rate of interest. Financial assets dassified as receivable within one year are not 8mortised. 14
AN DROICHEAD LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 A¢counting polici08 (Continued) Basic financial liabllltlas Basic financial liabililies, including creditors and bank loans are inilially recognised at transaction price unless the arrangement conslitules a financing transaction, where the debt inslfument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not 8mortised. Debt instruments are subsequently carried 81 amortised cost, using th8 effective inlerest rale method. Trade creditors are obligation5 to pay for goods or services that have been acquired in the ordinary coursa of operalions from suppliers. Amounts payable are classified as current liabililies if payment is due within one year or less. If not, they are presented as non-currenl liabilities, Trade creditors are recognised initially al transaction price and subsequently measured at amortised cost using the effective interest melhod. Derecognltlon of flnancl81 Ilabllltles Financial liabilities are derecognised when the charily's contractual obligations expire or are discharged or cancelled, 1.10 Employee benefits The cost of any unused holiday entitlement Is recognised In the period In whl¢h the employee's seivices are received, Termination b8n8fils ar8 recogni58d immediately as an expense when the tharity is demonstrably committed to terminate the employment of an employee or to provlde lermSnatlon benefits. 1.11 Retlrement benefitB Payments to dèfined contribulion retirement benefit schemes are charged as an expense as they fall due. Crltical accounting estlmates and judgaments In the application of the charity's accounting policies, the Direclors are r8quir8d lo make judgements. estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The eslimales and assoGiated assumpiions are based on historical experience and olher factors that are considered lo be relevant. Actual results may differ fiom these estimates. The oslimales and underlying assumption5 are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision affeGts cffily thal period, or in the period of the revision and future periods where the revision affects both current and future periods. Income from donations and legacies Unrestricted funds 2024 Unrestricted funds 2023 Donations and gifts Membership fees 1,000 3,420 4,369 4,369 4.420 15-
AN DROICHEAD LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable aetivltles Charltabl• Incomo Total Total 2023 2024 2024 2024 Sale of goods Day care fees Grants 23,789 23,789 425,338 485,766 9,039 402,625 603,706 425.338 485,768 911,104 23,789 934,893 1,015,370 Analysis by fund Unreslrlcted funds Restricted funds 499,395 411,709 23,789 523,184 411,709 657,978 357,392 911,104 23,789 934,893 1.015,370 Income from other tradlng actlvltles Unrestricted Unreslricied funds funds 2024 2023 Shop income Sponsorships and s¢cial lolteries 5,206 7,714 6,290 6,060 Olher trading activities 12,920 12,350 16-
AN DROICHEAD LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Charitable activities expenditure Charitable Expenditure 2024 Charitablè Expenditure 2023 Staff costs Educational Res & Materials Programme expenses Minibus hire and travel expenses Professional Fees General expenses Other charitable expenditure 654,503 10,993 39,091 15.857 97,905 644.435 14,085 53,110 17,230 158,144 1(E,096 977.455 834,956 Share of support costs (see note 71 Sharo of governance costs (see note 7) 126,891 6,000 142,818 6,000 1,110,346 983,774 Analysis by fund Unreslricled funds Restricted funds 698,637 411,709 626,382 357,392 1,110,346 983,774 17
AN DROICHEAD LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Support costs Support Governancg costs costs 2024 Support Governance costs osts 2023 Staff costs Depreciation Training Bank fees & charges Loan interest He81, Lighl & Water Telephone Poslage, stalionery and advertising Subscriplions Insurance Repairs and maintenan 20,570 20,973 6,037 758 12,538 19,813 2,626 20,570 20.973 6,037 758 12,538 19.813 2,626 26,330 28,708 1,824 717 10,374 15,428 2,019 26,330 28,708 1.824 717 10,374 15,428 2,019 19,360 4,873 7,829 19,360 4,873 7,829 27,255 3,191 7,072 27,255 3,191 7,072 11,514 11,514 19,900 19,900 Accountancy fees Audil fees 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 126,891 6,000 132.891 142,818 8,000 148,818 Analysed belween Charitable actlvities 126,891 6,000 132,891 142,818 6,QOO 148,818 Governance costs includes paymenls to the auditors of £3,000 (2023- £3,000) for audit fees. Net movement In funds 2024 2023 The net movement in funds is 518led after chargingl(creditingl'. Oeprecialion of owned tangible fixed assets 20,973 28,708 Dlrectors None of Ihe Direclors received any remuneration or benefits from the charity during the year. 10 Employee5 The average monthly number employees during the year wa5.. 2024 Number 2023 Number 40 49 18
AN DROICHEAD LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 10 Employee8 Iconlinued) Employment costs 2024 2023 Wages and salaries Social s&curily costs Other pension costs 546,581 102,742 25,75 541,334 108,191 21,240 675.073 670,765 There were no employees whose annual remuneration was moro Ihan £60,000. 11 Taxatlon The charity is exempl from taxation on its activities because all ils income is applied for ch8ri18ble purposes. 12 Tanglble flxed a88et8 Land & Bulldln98 Flxtur•¥ & Fittings Computer8 Total Cost At 1 April 2023 826,565 17,335 46,792 890.692 Al 31 March 2024 826,565 17,335 48,792 890,692 Depreciation and impalmignt Al 1 April 2023 Depreciation charged in the year 335,136 19,980 19,296 {1,961) 28,521 2,954 380,953 20,973 Al 31 March 2024 355,116 17,335 29,475 401,926 Carrylng amount At 31 March 2024 471,449 17,317 488,766 Al 31 March 2023 491,429 (1,9611 20,271 509,739 13 Debtors 2024 2023 Amount8 falling due within one year: Other debtors 46,737 63,385 19
AN DROICHEAD LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Debtors {Continued) 2024 2023 Amounts falling due after more than one year: Other debtors 120,000 Totsl debtors 46.737 183.385 14 Loans and overdrafts 2024 2023 Bank overdrafts Bank loans 7.924 157,025 164,226 184,949 164,226 Payable within one year Payable after one year 27,664 137,285 19,740 144,486 Amounts included above which fall due after five years: Payable by instalm6nls 58,234 77,974 A debentur& over all company assets supported by a Fixed Charge over each Folio held including the An Droichead ChildrAre facility al 20 Cooke Street, Belfast, B T7 2EP. The term of the loan is 15 years, monthly repayments £1,645. Interest will be variable, being calculated as the greater cf the underlylng Bank of England bas rate plus 30/v, 15 Creditors: amounts falling due wSthin one year 2024 2023 Notes Bank loans and overdrafts Other t8x81ion and social securily Deferred capital grants Other creditors 14 27.664 6,638 16,106 20,762 19,740 9,874 16,106 15,826 71,170 61.546 20-
AN DROICHEAD LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Creditors.. amounts lalling due after more than one year 2024 2023 Notes Bank loans Deferred capital grants 14 137.285 188,003 144.486 204,109 325,288 348,595 17 Retirement benofit schemes 2024 2023 Dofingd contribution schemes Charge to profit or loss in respect of defined contribution sch6mes 25,750 21,240 The charity operates a defined conliibution pension scheme for all qualifying employees, The assels of the scheme are held separately from those of Ihe charity in an independenlly adniinislered fund, 18 Unrestrl¢ted lund8 The unrestricted funds of the charity comprise Ihe unexpended balances of donations and grants which are not subjed to specific conditions by donors and grantors as lo how they may be used. These include designaled funds which have b&en set aside out of unreslricled funds by the Iruslees for specific purposes. At 1 April 2023 Incoming Resources At 31 March resources expended 2024 General funds 299,648 540,473 {698,6371 141.484 Previous year.. At l April 2022 Incoming resources Resources At 31 March expended 2023 General funds 251,282 674,748 <826,3821 299,648 19 Related party transactions There were no disclosable related party Iransaclions during the year (2023 - none). 21
AN DROICHEAD LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 20 Cash generated from oporations 2024 2023 (Delicit}Isurpus for the year (158,164) 48,365 Adjustments for.. Deprecialion and impairment of tangible fixed assels 20,g73 28,708 Movements in working capital: Decreasel(increase) in deblors Increase in creditors (Decrease) in deferred income 136,648 1,700 116,106) (44,574) 14,390 {16.106) Cash (absorbed by)Igenerated from operatlons 114,949) 30,783 21 Analysls of change8 In net {debt)Ifund6 At1 Aprll 2023 ¢a8h flowsAt 31 March 2024 Cash at bank and in hand Bank overdrafts 18,665 114,228) (7,924) 2,439 {7,924) 16,665 122,150) {5,485) Loans falling due wilhin one year Loans falling due after more than one year (19,7401 {144,4861 119,740) {137,285) 7,201 1147,5611 114,9491 (162,510) 22-