Raldlo Failte Teo (A Company Ilmltgd by guarant9&, nol havlng a sharn capltal) Annual Report and Unaudited Flnancial Statements for the financlal year ended 31 December 2022 Quartèr Chartered Accountants St Anne's House 15 Church Strpvt Cathedral Quarter Belfast BTI 1PG Company Numbor: N1067683 Charity Number: 101643
Raidio Failte Teo IA company limited by guarantso, not havlng a sharo capltall CONTENTS Page Trustees, and Other Infom8tion Trustees, Annual Report Statement of Trustees, R8sponsibilities Independent Examinerfs Report statement Df Financial Activities 10 Summary Income and Expenditure Account 11 Balance Sheet 12 Notes to the Financial Statements 13-18
Raidio Failte Teo IA comF)ony Ilmlted by guarani8•, nDt havlng a share capltall TRUSTEES. AND OTHER INFORMATION Trusts Gearold O Caireaiiain Dr P61 Mac Cana Aine Nic Geraill Ciaran O Pronntaigh Fergus O'Hare Company Secretary Dr POI Mac Cana Charity Number In Northorn lrnland 101843 Company Reg18tration Number N1057883 Regigtored Offlce and Prlnclpal Address 30 Sraid Dhubhaisg Béal F8ir$le BT12 4AL Ind&pondent Examiner Quarter Chartered Accountsnls StAnne's House 15 Church Street Cathedral Quarter Belfast BT1 1PG Prlnclpal Bankers Ulster Bank Unit G Weslwood Centre Belfast BT119BQ
Raidlo Failte Teo IA eompany Ilmltsd by guoranlee, not having a share capltall TRUSTEES. ANNUAL REPORT for the financial y88r 8nd@d 31 December 2022 The trustees present their Trustees, Annual Report, combinlng the Dir8cloTr' Report and Trustees, Repo¢ and the unaudited financial statements fc)r the financial yèar end8d 31 December 2022. The financlal statements are pr8pared in accordance with the Companies Act 2008, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ir61and and Accounting and Reporting by Charities.. Statement of Recommended Practice applicabl8 lo charitie8 preparing their financial ststements Sn accordanca with th& Financial Reportino Stsndard applicable in the UK and Republic of Ireland IFRS 102) Ths Trustees, Report conlalng thg information requirnd to be provided in the Trustees. Annual Report under the Slatemonl of R&commènd6d Practice ISORPI guidelines. The Irustses of thè Company are also charity trustèes lor the purpos& of charity law and under the companlg con5titutlDn are known as mambers of the board of trustees. In this report the trustèas of Raldio Faiit6 Teo present a summary of ils purpose, govarnancg, activities, achlgvements and financgs for the financial financial year 31 Decemb?r 2022. The company is a reglstered charity and hènce Ihe report and r@sulls are pres8nled in a form which complies with the requirements of th& Companies Act 2006 and, although not obliged to comply wllh the Stal8m@nl of Recommended Practice (Charities SORP effective January 20151, the organisation has implemented its recommendations where relevant in thesa financial statements. Mlsglon, Objectives and Strategy Ml881on Statement Our mission is lo promote the Irish languagè by providing compreh8nsive, inclusive communlty radio and media services through the medlum Df Iri8h. Ch8ritabl8 objgctives and Olcom Key commitments Raldlo Failte Teo is registered as a charity by the Charity Commi55ion for Northern Iréland (8ffecllva from 16102120151- The company continues lo meet (and exceed) iys charitable obj@ctive8 in relalion to the adwanc8ment of arts, culture, heritage, education eto In addition, th@ Drganisation me8ts the objectives and targels set out in the Ofcom Kay CDmmilm8nts agreement - including objectives in relatlDn to broadcasting, community Irsining In radio 8ki118 Bnd the prDVl8ion of community access to Ihe media, Raidio FailEe proaclivgly engages in outreach actlvltles thereby increaslng th8 overall capacity of the station and incrBasing its asSIbIlItY to a wide range of community Stakeholders. As part of our commitm&nl to prDvid8 an attraclive and welcoming space for staff, voluntear broadcaslors and visltora alike and to contribute to communty regeneration in an area of high18vels Df deprivation, a coffe8 shop 'An Lon Dubh, was opened in the building (April 20191. An Lon Dubh is a social enterprise initiative, offering high quallty CDffeeltea and light, healthy food choices, pfDviding a pl8asant space for Irish speakers, learners of the language, the local community and others to meet, further increasing aCSSibIl lo the wide ranga of community facilitie8 and Servi8 offered by Raidio Failte, in fijrthCran of our charitablè obl@ctives. Due lo prévailing reslrictions as a result of the Covid-19 pandemlc, An Lon Dubh community café was closed during the period January to March 2022. Tho café has been operational continuously since that date. The Directors & Management wish to thank thè strdff (past and pres8ntl of An Lon Dubh café for their hard work and ongolng commiknent in difficult circumstances. Stiuideo Feirste, a community-based rècording studio, was officialty launched in December 2022 and 15 attractlng a lot of intorast from ICal musicians and others who can avail of sound-recDrdlng ServIS at affordable rates. with inpul from accomplished sound engineers. The Directors of Raidio Failto Teo can rèport also that the station continues ils involvernent in a range of cross- communilyloutreach initiatives, encDuraging the particlpation of members ol the wider community in the work of Raid16 Faille - as broadcaste, lisleners and as visitors to th& station. Raidi6 Failte continugs to collaborat& with Raidio na Life Ilhe only other licensed cornmunity radio station on tha island Df Ireland that broaclcasls on the airwave5 in Irlsh) and we SUPPDrt a numbor of organisations throughout tha north of Ireland to produce radio content (subject lo availabilty of resourc88). Due lo the Impact of Covid-19 during the early part of the financial year, it has been necgssary to continue to adopt new methods DI engaging with our volunteer broad(asters and other stak9holders including the provision of training on-line and the extension of initiatives for engaging wllh tha community, 8UGh as the radio Series Gulh an Phobail (Voice ofthe Communifyl. It Is anticipated that these new melhods of community engagement wlll b8com8 a pennanant featuffj, dovetailing with increasing levels of Sdi1}baSed radio production and Df face-tovface community engagement. Management
Raldio Failte Teo IA company Ilmlted by yuaranteE, not havlng a gharo copllall TRUSTEES, ANNUAL REPORT fDr the fin&n(#&l year ended 31 Decemb@r 2022 and staff of the slallon continuously seek new opportunities to 8ngage and collaborato with tha Irlsh language community of 8peak8r3 and learners of the language, both locally &nd wider afield and with the Ioc81 community. Incl119 Dn a cr055-communily basis, in pursuance Df Ihe overall charitablè objectives of the organisation. As part of its r@mit as a community radio station to support other cornmunity and language organisations. staff and volunteers from the $tation attend events and conduot interviews wilh representatlv6s of numerous organisations on gn Onoing basis throughout th@ year. The Directors & Management would like to comm8nd Raidio Fallle 818ff who have work@d tirel85sty throughout the year, lo provide a hlgh-quality Irish langu8 radio service (including the provision of associated training, adminislralion, 18chni1, community Outreach, community cafa and sound recording servlcesl to the Irish language and tha locavwider community. Finan¢lal Revlew Th@ Directors of Raidio Fallte T80 gratefully acknowledge all monetary support raceived since the inception of the community radio sorvieE, towards the furtherance of our charitable objectives and to creating community benefit - notably the on-going support of Foras na Ga9ilge (sinca 20061 and of Northem Ir&land Scre8n-An Cists CraoltOir8achts Gaeilge IILBF) (since 2011). The Directors can r?port that the objectives and targets agreed wlth Foras na Gaellge in relatlon lo the promotion and usage of the Irish language through th@ medium of community radlo have been m8t and exceeded, wilh the input and co-operation of a wlde range of Irish language Drganisations and individual speakers and learners ol the language. Durtng this period. RaKlio Failte is grateful for contlnuation funding reiVed from Foras na Ga8ilge-Scéim Raidio Pobail 2022-2024 (Community Radio Sch8mel, supporhng 4 posts and ongolng broadcasting, training, volunlegring, community Outreach, awaneSS raising lin relation to the Irish larou&3e and to the 3tation itself), archiving and Ihe ongolng developm8nt and maintenance of the community building. Raidici Fallle was success1 In attracting fundlng of £243.600 annually for the period 2022-202412019-2021 £216,0(X)I Th8 Directors wish also to gratafully acknowledge the support of Colmcilie (a ftjnding initiative pKlministered by Fr)ras na Gaeilgel for a project to be Ca1d out in 2023. Icolmcille 15 a partnership programme beeen Foras na Ga911g and Bbrd na Gaidhlig, promoting the use of Irish Ga&lic and Scottish Gaelic in Ireland and Scotland and been the Iwo countrigs). The Dlrectors ara pl&a8ed 8150 to report the conlinuation of fundiro from Northern Ireland Screan - Irlsh Language Broadcast Fund for a further year (April 2022 - March 2023-. £85,000). The ongoirKJ support of Northern Ireland Screen-lrish Language Broadcast Fund for the Raidio Failte BrOadst Training Scheme is a highly valued and critical elemonl in tha success of Raidio Failte, supporting employment and contributing to skills-building within th8 Irish sp@aking community and b the growth and d8velDpment of Ih? overall Irlsh language media infrastructutp. Awardad on a contr8cI basis, for th& development of Ihe Iraining, radio production and archiwng capacity of the ststion, il 15 a very valuable SUPPDrt package for the provlsion of community radio 8ervices by Raidio Faiite. Regular workshops, group and on8-lo-one training sessions in sound reCOrdij, broadcasting, sound editing and mixing and podcasting are held on a regular basis throughout the year. A popular radlo broadcast training CDurse for felllale participants hag been run for a SaCA)nd year with very positive outcomes and foedback. Raidio Failte Iraining courses impart Valuable. transferable skills, nurturing new lalenl and produce high quality content for broadcast. Th8 Dir8cIDr8 gratefulty acknowledge the additional support in this period for our community broadcasting serviTr in the ft)rwn of the placement of 2 train@e br08dcasters for a period of 12 months under the Nl Screen-ILBF Scéim na Léiritheoiri Raidid Faoi Oiliuinl ITr8inee Radio Producers Schemè) Thls proved to be a very successful training schemg that has contributed to sklll-building In radio broadc8StiThJ through the medium ol the Irish languaga and to Ihe growing 8ucce55 of Rgidio Failte, furth8r Strengthening its appeal to existing and new listaners. In addition, the Directors gratefully appraciate assistance from Department for Communill&slGaelchursal whereby salary costs for a trainee Scheduling Assistant were supported for a period of 6 months uler the OBAIR (Job Stsrtl employment Scheme. Tho Irainea secured continuing employment with Raidio Failte. In this period. Raidio Failte way Successful In securing funds for a Busines8 Developmant Officer (June 2022 March 20241 and for a Social Enlgrprise Devèlopment Officer-café An Lon Dubh (August 2022 July 20251. The Board is very grateful to Department for Communities and to the administrators of these funds An Cisle Infnelstlochta Gaeilge and The Rank Foundation for thls very valuable supporL The Dir&ctDrs are very grateful also for addltional funding recEived in the p&riod (2020-20221 lowards alleviating the impact ol the Covid-19 pandamic on the organisation from Foras na Gaeilge, An Ciste Inffteisllochta Ga@18, Conradh na Gaeilge, Glor na nGael (funding administered on behalf of Department for Communities) and from Department for Communitles Languaga8 Capital Fund Piknl Programme 2021-2022. These funds pVided critical support in relalion to revenu9 Costs and to strengthening tho organlsation by providing essential capital support to a35isI with post-pandemic rgcovery. Amongst the successful initiatives duting thi5 period were the establlshm8nt of an on-Sln& radio training scheme specifically for female participants and the purchasa and iTh8tallation ol specialist outside broadcast equipment, providlng easier facililalion of outslde broadca81s by Raidio Failte and provlding a m6chatbism for the further d6velopm8nt of link8 wlth other Irish language broadca51ers such as Raldio na Life and
Raidio Failte Teo IA company limiied by guarantso, not havlng a 8haw capilall TRUSTEES, ANNUAL REPORT e fingncial ear end8d 31 December 2022 RT Raid16 na aeltachla. In addition, the social entarpri8e café, An Lon Dubh, and the commLJnity recording studio, StiuideD Feirsle, have benefitted from additional equipment, thereby enhancing s@rvich8 to the community and providing increasod potential for income-generation. The Board of Directors wish to keep on record our gratitude lo Ihe wide rangè of community and slalulory stsk6holders who supported the capital build project al 30 Sraid Dhubhais& (completed October 20181 Sn particular Belfagt City Council, Department for Communities, An Ciste Inthelsllochla Gaeilge, the Alpha Programm&, Foras na Gaeilge, Nl Scraen-ILBF, Raidio Failke staff and volunteers and Iho many cornmunity stak8holder8, both individual$ and organi8ations who supported us. The Dlrectors espeoially value the 'ln-kind' support of the many Irish speakers and lèarnars who havo donated théir time, talents gnd energy lo the statlon as broadcaster8 and in other SUPPDrting roles. The Directors estimate luging Ofcom approved ratosl that th@ monetary value of the work and services provided by volunteers and olhars during the year was £39.833. Financial Results At the end of the financial yoar the company has assets of £241,99812D21 £202,148) and liabilltles of £14,237 12021- £14,499). Th& nel assets of the company have incraas8d by £40,112. Regerves Position and Poll¢y Rés6rve8 are needed to bridge the gap b&tween sp6nding and receiving of incom8, to cover unplanned emergency r8pairs, other unforeseen exp@IlUre andl or ioss of funding. The Iruslegs consider the ideal level of reserves as at 31sl December 2D22 lo be £111,856, which is equivalent of 3 months running costs. The unrgstricled reserves of Raldlo Failte T80 as at 31 st December 2022 is £125,426. Of this balanc8 £10,956 can be re8li5ed by the disposal Of tangib18 fixed assets, Th8 charity has reslricled reserves totalling £102,335 at 31 st December 2022. Of thls balance, £27,815 is in relation to a grant provided by ILBF of £86,000, which is to be ulili5ed Lluring thè p@riod 1st April 2022 31 st March 2023, In th8 Trustae's vi8w. the reserves should provid8 the charity with adequate finanaal 5tablllty 2nd the mean8 foi it lo meet its charitable objectives for the foreseeabl8 future. Prlnclpal Rlsks and Uncgrtaintie5 In common with Ofcom-lnsed corllmunity radio stations elsawh6re, Raidio Failte has operated ts FM servic8 with 8 5-kilomelre brDadc&sl restriction since 2006, wlth brDadcasl coverage limited to the Belfast area. In 2018 Raidio Faille submilled an applicallon to Ofcom in a bKI lo gain an exten510n to existing coverage for the communily radio s8[vi. In thelr decision (September 2019) Ofcom granted an extension of the community radio service, with approval for a powar increa8e. Raidio Failte will continue to lobby for further exten5ion5 to th8 coveraga area. in line with demand from communities outside thè curr8nt br08dcast area. In addftion, slatlon management continue to monitor d8velopments in relation ID small-8cal8 DAB. Raldio Failte Is fued primarily by Foras na Gaeilga-scéim Raidio Pobail and Nl Screen-lrish Language Broadcast Fund. Wa are hopeful that fundlng from thes@ bodies will continue, and we are always aware of the necessily to seek other additional sources of funding. In this period, we were successful in sacuring funds for a Business Development Offir and for a Social Enterprise Development Officer-cafa An LDn Dubh. Raidi6 Failte wlll continue to se&k Dut new additional funding sources in Ilne with developmental needs, such ag the Bolfast City Council Revenua Grant for Community Buikling, a 3-year funding stream to support revenue costs. Future Devèlopments From ils base at 30 Sraid Dhubhaise, Béal Feirste, Bf12 4AL, the Director8 and managemenl of Raidio Failtè Tao strive to maximls& the benefits of location in a purposa-built centr8 for Irish language radio broadcasting. training, sound editing and sound archi)riny (operational since Octobgr 2018). The Raldio Failte centre is located ID an area of multiple deprivation, provlding facilitios Ihat contribute to the alleviatlon of povérty and social 8xclu$lon. Furthemiore, by virtue ol IL5 localion al the edge of the Elty centre, Raldith Failte provides an inclusive, accessible community radio servico and associated activities that asslst in providing further impetus to overall Gaeltacht Quarter economic regeneration plans, benelitling tha clty as a whole, The centre aSm8 to expand Irish language media and community infrastructure and to support, whar8 possibl8. other communitiès who Mrish to increase their capacity in the Irlsh language, In this financial year, Raidio Faiitg commenced the process of successlon planning in relatlDn tr) two seniorllong- standing employeos. 11 Is hoped to secure funding to support mentoring of new etnployees to be appointed in both key roles within the organisation.
Raidio Failte Teo IA company Ilmlt9d by guarnntee. not havlng o Share c4pllall TRUSTEES. ANNUAL REPORT forthe financi81 year ended 31 Decamber 2022 Trustees The current Irusle8s are as Set out Dn page 3 Gearoid O Caireaiiain Dr P61 Mac Cana Aine Nlc G&railt Ciaran O Pronntaigh Fergus 0'Hara In accordance with the Arbcles of A950ciatlon, the directors retire every third Annual General Meetlng and, b8ing eligible, can off8r themselves for r8-gleclion. The seoretsry who served during the financial yaar wa3.. Dr POI Cana Compliance wlth Se¢lor-Wld9 Legislation and Standardg The company engages pro-actively with legislation, standards and CDdes which 8rg dèvelop8d for the sector. Rgidio Failte Tec sub5cdb@8 to and 13 compliant with tha followlng.. The Cornpanies Act 26 The Charities SORP IFRS 1021 Approved by the Board of Trustees on 12 September 2023 and slgnod on its behalf by: Dr Pol Mac Cana Dlr&ctDr ine Nic Gerallt Dlrnclor
Raidlo Failte Teo IA company Ilmlled by guaranlee, not havlng a sharg capllall STATEMENT OF TRUSTEES, RESPONSIBILITIES for the fin8nLial year ended 31 Decembor 2022 Thè trustees. who are also dlreators of Raidio Failte Teo for the purpDses of company law, are responsible for preparing the financial statements in accordance with appllcablo law and regulations, Company law requires the trustees a5 th8 dir@ctors to preparg financial statements for each linancial year. Under that law th8 Iruslees have elected to prapare the financial s18tements in accordance with United Kingdom Generally Accepted Accounting Practica Iunited KiThJdom Accounling Stsndards and applicable lawl In¢lLKliro FRS 102 "The Financial Reportiro Standard applicable In the UK and Republic of Ireland" Section 1A (Small Entities). Under company law the trustees must not approvs th8 financi81 statements unless they are satigfied that they givè a true and fair view of the stsle of affairs of the company and of the surplus or deficit of the CDmpany for that period. In prgparing Ihas6 fingncial slalements, tho trustaes are required tD'. se16Ct suitable accounting pollcias and apply them conslslently., make judgements and eslimatas that &r8 raasonable and prudent., stale whether the ftnanclal statements have bean prepared In accordance wlth the relèvant financial reporling framework, identify those standards, and note the effect and the reasons for any material departure from Ihose stsndards,. and prepare the finandal slat8m8nts on the golng concern basis unl8ss it is in&pprDpri8te to pr6sume that the Company will continue in operation. Tha trustees confirm Ihal they havo compli@d with the above requirements in praparing the financial statements. The Iruslees ara wonsib18 for keaping adequate accounting racords Ihat are sufficient to show and 8xplain the company's Irans&clion3 and disclose with rea80nab18 accuracy at any time the finanpAal position of the company and enable them to ensure that thè financial statements comply with. Thèy are also tEsponsible for safeguardlro Iha asset5 of the company and hence for taking reasonable st@p8 for th8 prevention and detection of fraud and other Irragularlti8S. Approvgd by the Board of Trust@ on 12 Soptember 2023 and slgnad on Its bghalf by: Dr P61 Mac Cana Director Asne Nic Gerallt Dlrector
Raidio Faiite Teo IA company Ilmltad by guarantee, not having 4 share capllall INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF RAIDIO FAILTE TEO We have examined the financlal statements of the company for the fin&nci&l year ended 31 Decemb@r 2022, which comptise the Ststemenl of Financial Activiti&s, the Summary Income and Expenditure Ac¢oLJnl, th8 Balance Sheet and the rèlated not&s. Thi8 report is solely to the company's memb8rs. as a body, in a¢cordance with Chapter 3 of Part 16 of tha CDmpanles Act 2006. Our work has been undertaken so that we might compile the financial staternents Ihat w hav6 bèan ènggged to compile, report to the Board of Trustees that we hav@ donè so, and slal6 those matters that W8 have agreed lo state to them in this report and for no other purpose. To the fullest extent P8rrnitted by law, we do not 8¢¢ept or assum8 responsibility to anyonè other than tho company and the company's memb8rs, as a body, for our work, or for this report. Respective re$pongibililie8 of tru8tee8 and &xaM Iner The company's trustees (who are also the directots of the company for the purposes of company lawl are responsible for the pr6paratlon of th8 financtal statements in accordance with the raquirements of thè Companies Act 2006. The cofftpany's tnteeS consid@r that an audit is not requlred for this financial year und8r Chapt8r 3 of Part 16 of the Companles Act 2006 that an independF2nt examination Is required. It is our wsponsibility to.. examine th8 financial statem@nts undér section 65 of the Chariks Act., follow Ihe procedures laid down by the g@neral Direction8 given by the Charity Commission for Northern Irelan(I under section 85(9llbl of the Charitie5 Act and stato whether particular matters hove come to our attention. Basi9 of independgnt examiner's r8port We have examined your CDmpany fin&nci81 stal@ments as required under sectlon 65 of the Charities Act and our examination was carried Dut in accordance with the general Dlreclions given by the Chartty Commission for North8rn Ir8land Uar sèction 6519)Ib> of the Charities Act. An examination include8 a vIeW of the ac¢ounting records kept by the company and a comparison of the flnancial statements presented with Ih08e records. It also Includes consideration of any unusual items or disclosurns in the financial statement5 and 5*king explanatlDll8 from tha trustees concerning any such matters, The procedur88 undertaken do not provide all the evldence that would be required in an audit and consequently no opinion is given as to whether th8 accounts present a 'true and fair, view and the pOrt is limited lo those mallers sel out in the statement below. In connection wilh our examination, no maller h88 come to our attanlion whlch gives us cause to believe that in, any material r@spect'. accountlng records were not kept in accordance with section 386 of the Companles Act 2006 the financial statements do not accord wlth those accounting records the financial statements have not Leen prepared in accordance with Ihg accounting requiremen& of section 396 of the Companies Act 2006 and with tha methods and prfnciple5 of the Ststemenl of Recommended Practica appllcable lo charities preparing their accounts in accordanca with the Financial Reporting Standard applicsble in the UK and Ropublic of Ireland (FRS102) thero 1$ fijrther information needed for a proper underst9nding of the account5 to b9 reached. Independent examiner's statement W8 have no concerns a1 have come across no other mallers in connection with the examination to which attention should be drawn in this report in order to enabl& a proper underslandlng of the financial $lalements lo be reached. QUARTER Chartered Accountants Sl Anne's House 15 Church Street Cathedral Quart9r Belfast BT1 1PG Date: 12 Septembèr 2023
Raidio Failte Teo IA company limlted by guarantep, nol havlng a ¥h&ro capltall STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 Decemb812022 Unrestrlctod Restricted Funds Funds 2022 2022 Tolal Unrg8trict8d Restricted Funds Funds Funds 2022 2021 2021 Total Funds 2021 Nots9 Incomlng Resourcgs Charrtable activities Grants from governments and other C¢>funders other income 63,996 432,868 496,864 9.032 342,517 351,549 18,758 18,758 Total incoming re80urcg8 63,996 432,868 496,864 9,D32 361,275 370,307 Resources Expended Charitable actlvltles 57,384 399,368 456,752 15,140 316,974 332,114 Net incomlngloutgolng re80urces beforo transfèrs 6,612 33,500 40,112 (6,108) 44,301 38,193 Gross transfars betse8n funds Net movement in funds for the flnanclal year 6,612 33,600 40,112 16,1081 44,301 38,193 Reconciliatlon of fund8: Totsl fund8 beginning of the year 14 118,814 88,835 187,649 124,922 24,534 149,456 Total funds at the end of thè year 125,426 102.335 227,761 118,814 68,835 187,649 The Statement of Financial Activities includes all gains and losses recognised in the finanaal y6ar. All Income and expendlture relate to continuing activities. The nDte8 on pages 13 to 18 form part of the financlal 81gtements 10
Raldio Faiitg Teo (A company Ilmlt&d by guarantee, not havlng & sharo capltall SUMMARY INCOME AND EXPENDITURE ACCOUNT for thg financial year ended 31 December 2022 8tstement of Financial Activitle8 2022 2021 Gross income Unrgslricled funds Restricted funds 63,996 432,868 496,864 370,307 Total Income Total expendlture 496,864 1466,7S2) 370,307 1332,1141 Nat incomoJl•xpendtturel 40,112 38,193 The Company has nD recognlsed gains or losses other than the surplus for the flnancial year. Th8 results for the financial year have been calculated on the historical cost basi8. The notes on pages 13 to 18 fomi part of th9 financial slalements 11
Raidio Failte Teo (A-comphny Ilmlled by guarantoe. not having a sharg copllall Company Numbgr.. N1057683 BALANCE SHEET as at 31 DeeAmber 2022 2022 2021 Not08 Flxed Assets Tangible assets 10 76,341 5e,965 CurrentA89èts Debtors Cash al bgnk and in hand 11 33,143 132.614 21,190 123,993 166,667 145,183 Cradltors.. Amounts falling due wlthln onè yaar 12 114,237) (14,4991 Net Currant Assets 151,420 130,684 Total A88ets1è88 Currnnt Llabllltles 227,761 187,649 Fundg Restricted trust funds D@slgnated funds Iunrestricled) General fund lunrestricledl 102,335 8,913 116,513 68,835 18,648 100,166 Total lunds 14 227,761 187,649 The financial stat8m8nts have teen prepared in accorthnce with the special provlsions relating to small companle5 Wlthin Part 15 ofthe CDmpanles Act 20CQ. For the financial year ended 31 D8cambar 2022 the company was enlillgd to exemption from audlt under section 477 ofthè Companles Act20Cf,' and r70 notice has b8&n deposited under section 476. The trustee5 confirm that the members have not required the company to obtain an audit OF Its financlal ststemenls for the financlal year In question in accordanc8 with section 476 of the Companies Act 2008. The trustees acknowledge their rB8ponsibilit16s for ensuring that the company keeps accountlng records which compty with section 386 and for preparing financial sl&lem8nts which glve a true and fair view of the stat8 of affairs OF the company as 8t the @nd of thè finandal year and of its profit and loss for Ihe financial year in accordance with thè requirernents of sections 394 and 39S and which otherwise ¢omply with the requir8m@nts of the Companies Act 2006 rèlating to financlal statements, 80 far as applicablè to the company. The financial statements have b6en preparnd In accordance wf(h the provisions applicable lo companles subject lo th6 small companies, regime and in accordance with FRS 102 "The Financial Reporting Standard applicabl8 in the UK and Republic of Ireland" applying Section 1A of that St&n(laffl. Approved by thg Board of Trustees and authorSs9d for188uè on 12 Sèptember 2023 and signed on Its b8half Dr POI Ma¢ Cana Dlrector Aine Nlc Gerailt Direclor The noles on page5 13 10 18 fortn part of the flnanclal slalem8nts 12
Raidlo Failte Teo IA company Ilmlled by guarantee, not having a Sharo cApltall NOTES TO THE FINANCIAL STATEMENTS for th8 financial y@ar ended 31 December 2022 DESIGNATED FUNDS Property assets fund is the value ol unr8slrict8d funds represented by the tsngible fixecl assets owned and used by th& charity on an on-going basis for its actimties. GENERAL INFORMATION Raidio Failte Teo is a C¢Jmpany limlled by guarante8 incorporatgd in Northem Ireland. The reglslered offic8 of the company Is 30 Srfaid Dhubhaise, Béal Feirste, B T12 4AL which is 3180 the principal place of business of the corrpany Tha financial slatem6nts have b86n presentod in Pound Sterling 1£) which is also the funcllonal currency of th@ company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Tha followiro accounting policies hgve been 8PPli8d conslst8nlly in dealing with items whioh are considered material in r8lation to the charity's financial statements. Ba918 of preparation Th8 financial statements have be8n popared on the going concem basis und8r the historical cost convention, modified lo Include certaln items at frair value. The financial statements have been prepared in accordance with th@ Stat8ment of Recommended Practice ISORP) "AccDunting and Reporting by Chariti88 preparing their accounts in accordance with the Fingncial Reportiro Standard applicable in the UK and Republic Df Iraland FRS 102" applying Section 1A of that Standard. As permltted by the Companies Act 2006. the company has varied standard formats in that act for the stat&ment of Financlal Activities and th8 Balance Shèet. Departures from the standard formats ara to comply with th8 requirements of the Charltle5 SORP and are in complianca with section 4.7, 10.6 and 15.2 of that SORP. Slatsrnent of compllance The finanal stalernents of the company forthe financial y8ar ended 31 December 2022 have bean prepared on the going CDnetsrn basls and in accordance with th8 Statem8nt of Recommended Practicg (SORPI "Acrounliro and Reporting by Charrfoes preparing their accounts in accordanc* wlth the Financial Reporting standard applicable in the UK and R8public of Iraland FRS 102" applying SectiDn 1A of that standard. Fund accounting The following the categorises of funds maintained,. Rgstricted fund8 R@stri¢tad funds are donations or grants r91Vabl8 which the donor or funder ha8 specified aro lo be solely used for particular areas of tha charity's work or for projects b&lng undertakèn by the chgrily. Unr&stricted funds Designated funds are unrestricted funds of thè charity which the trustees hgvg decided at their discretion to set asida to use for a specific purpose. Incomlng Resources Voluntary income or capital is included in tha Statement of Financial Activities when th6 cornpany ig legally entitlèd to it, its financial value can be quantified with reasonable certainty and Ihere is re88onable certalnty of ils ultimate rocelpt. Entitlement to legacies is considered @stablished when the cornpany has been notlfied of a distribution to be mad8 by the executors. Income received in advanc6 of due parform8nce under a contract Is accounted for as deferred income until èarned. Grgnls for activities are recognised as income when tho related conditions for1al entitsment hav6 been mel. All other income is account&d for on an accruals basis. Resourcog Expend8d Expendlture is recognised once there is a16gal or constructive obligation to make a payment lo a third paty, it is probable that s&tll8mènl will be requirad and the amount of th& obligation can be measured r&liably. Irrecoverable VAT is charged as a cost against the acllwly for which the expènditure was Incurred. 13
Raidio Failte Teo IA company Ilmlted by guarantee, not hAvlng a 8haro caplta NOTES TO THE FINANCIAL STATEMENTS continued for the flnancial year ended 31 DeceTYJb8r 2022 Tanglble flxed asset5 and depreciation Tangible fixed assels are stated at cost or at valuatSon, less aumUlated depr8ciation. Th6 charge lo depreciation Is calcululed to write off the original CDSt or valuatiDn of tangible lixed 855ets, less their estimated r@sidual value, over theSr expected usefvl Iivgs a8 follow8.. studio @quipment Fixluros, fittings and equlpment 20alo R@ducing balance 250/0 Reducing b8lance Dobtors Debtors are recognised at the sett16ment amount due after any discount offered. Prepayments ar8 valu&J al the amount prepaid net of any trade dis¢ounts du@. Income recognisad by the the company from gov8mment agenci6s and other Co-lundgrs, bul not yet received at year end, 18 Included in debtors. Cash at bank and In hand Cash at bank and In hand comprises cash on deposit at banks requirirKJ less than Ihtee months notic8 of withdrawal. Taxation No current Dr deferred taxation ari8es as the company has b60n granted chari18ble exemption. Irr8cov8rable valued added lax is 8xwnsed as incurred. INCOME CHARITABLE ACTIVITIES Unre5tr1cted Restricted Fundg Fund8 2022 2021 Grants from governments and othgr co- funders.. Income 63,998 432,868 496,864 351,549 Q2 OTHER INCOME Unrèstrlcted Restricted Fun(ts Fund8 2022 2021 other incomè 18.758 EXPENDITURE CHARITABLE ACTIVITIES Dlréct Costs Other Costs Support Co8t8 2022 2021 Charitablè Activities 9,330 447,422 456,752 332,114 SUPPORT COSTS Charltabl& Actlvltles 2022 2021 Salarie5,wag8s and related Costs General offic8 Independent Examlnatlon Fees Legal and other professional fees DepreciatlDn 303,440 118,451 3,300 1,951 20,280 303,440 118,461 3,300 1,951 20,28D 222,945 79,917 3,300 5.890 14,024 447,422 447,422 326,D76 14
Raidio Failte Teo IA company Ilmlted by guarantee. not havlng a ¥haro capltall NOTES TO THE FINANCIAL STATEMENTS continued for the financlal year ended 31 December 2022 ANALYSIS OF SUPPORT COSTS 2022 2D21 Salaries,wages and ralatsd costs General office Independent Examination Fees Legal and other profassional fees Depreciation 303,440 118,461 3,300 1,951 20.280 222,945 79.917 3,300 5.890 14,D24 447,422 328.078 NET INCOMING RESOURCES 2022 2021 Net Incomlng Rosourcgs are stated after chargingl(creditingTr: Depreciation of tanglble assets Independent Examineffs remuneration,. independent examination services 20,280 14,024 3,300 3,300 EMPLOYEES AND REMUNERATION Number of employees The average number of persons èmployed (including executive trustees) during Ihe financial year was as follows.. 2022 Numbgr 2021 Number Avaragè Number of Employees 17 15 The staff costs comprise.. 2022 2021 Wagès and salaries Social security costs Pension c08ts 267.897 17,366 28,177 191,321 11,803 19,821 303A40 222,945 EMPLOYEE REMUNERATION There are no employees who roceived employ benefltg excluding employer pension costs of more than £60,000 for the reporlirg period. The lotal émployèe rémuneration ofthe 2 key management persDnng1 was £70,074. The chanty trustees were not paid nor recetved any other for the reporting period. 15
Raidio Failte Teo IA ¢ornpany limlted by guarantao, not havlng a Sharg capltall NOTES TO THE FINANCIAL STATEMENTS continued for Ihe finanoal year ended 31 D8cemb8r 2022 10. TANGIBLE FIXED ASSET8 Studio Fixtum, gquipmgnt flttlngs and equlpment Total Cost At 1 January 2022 Addltion5 66,487 34,773 68,267 4,883 152,754 39,656 At 31 Dacember 2022 121,260 71,150 192,410 Depr•ciation Al 1 January 2022 Charge for the financial year 47,788 14,695 48.001 5,585 95,789 2Q.280 At 31 Decembar 2022 62,483 53,586 116.069 Net book value At 31 December2022 58,777 17,564 78,341 At 31 December 2021 38.69g 18,266 56,965 11. DEBTORS 2022 2021 Prepayments and accnjed income 33,143 21,190 12. CREDITORS Amounts falllng duo wlthln ong y&ar 2022 2021 Trade cr8ditors Taxation and soclal security C05t5 Other creditors Accwa18 and deferred income 3,195 5,733 3,807 1,600 1,587 11,412 1,500 14,237 14,499 13. RESERVES 2022 2021 Al the beginning of the year Surplus for the financial year 187,649 40,112 149,456 38,193 At Ihe end of tho year 227,761 187,649 14. FUNDS 14.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrostricted Rgstricted Fund¥ Funds Total Funds At 1 January 2021 Movement during the financigl year 124,922 16,108) 24,534 44,301 149,456 38,193 At 31 D&cember 2021 Movement during the financial year 118,814 6,612 68,835 33,500 187,649 40.112 At 31 D&camb8r 2022 125,426 102,335 227,761 16
Raidio Failte Teo IA company Ilmrtgd by guarant99, llot having a shar6 capitull NOTES TO THE FINANCIAL STATEMENTS continu@d for the fin8nci81 year end8d 31 December 2022 14,2 ANALYSIS OF MOVEMENTS ON FUNDS Balance l January 2022 Income Expenditure Transfgr8 Balancg between 31 Decembèr funds 2022 Rostrl¢ted funds FDras Na GaelTrJ8 ILBF Colmci118 Conradh na Gaeilge Comharchislg COVID ILBF SLRFO Rank Foundation OBAIR lJobSlartl Languages Capital Fund An Cists Infhgistlochta Ga&llgg 6,995 35,793 243,600 81,283 8.500 249,149 89,260 1,448 27,81e 6.500 9,452 13.526 1,609 23.449 1,S20 16,207 710 11,815 14,232 2,363 15,000 34,000 5,112 29.653 17,720 13,391 10,551 3,492 13,446 17.010 68,835 432,868 399,368 102,335 Unrestrlct&d funds Tanglbl& Fixed Assets Unre9tricaed General 18,648 100,166 9,735 47,849 8,913 118,513 63,996 118,814 63,996 {5T,3841 125,426 Total funds 187,649 496,864 456,752 227,761 14.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets oharity u88 Current assets Current liabilities Total Rastrlcted trust funds 50,69Y 96,635 (30,5631 116,771 Unrg8tricted designatèd funds Unrestricted general funds 27,560 11,918) 27,560 83,430 69,022 16,326 25,642 89.022 16,326 110,9 76,341 165,657 (14,237 227,761 15. STATUS The company is limited by guarantee not havlng a 5hare-capital. rhe liabilily of the mèmbers is limlled. Ev8ry member of the company undertakes lo contribute b the assets ol the company in the ev8nl of its b91ng wound up while Ih&y are members, or wllhin one year Iherèafter, for the payment of the debts and liabilities of the company conlr8cled befora they ceasod to be members, and the costs, charges and expenses of windlng up, and for Ihe adjustment ol tho rlghls of the contributors among thems6lvès, such amount as may bg r9quired, not exceeding £ 1. 17
Raidlo Failte Teo IA company Ilmltod by guarantse, not hgvlng a sharo capltall NOTES TO THE FINANCIAL STATEMENTS continued for the finandal year onded 31 De¢emb8r 2022 16. RELA TED PARTY TRANSACTIONS Llonra Uladh Teo Dr POI Mac Cana, Aine Nic Gerailt, Gegr6id O Caireaiiain and Fergus O'Hare are all rjirectors In R8idiO Faiitè Teo and Llonra Uladh Teo. Llonrg Llladh Teo is underlaklng the development Df the Llonra Uladh cantre for Irlsh langu radio broadcastlng, training, 8ourKI editing and sound archSving. As at 1 January 2022 Llonra Uladh Teo was owed £9,774 frorn Raidio Faiite Tec. During the yearthere was net movement of£7,794 As sl 31 December 2022 Raidio Failt8 Teo owed Llonra Uladh Teo £1,980. POST.BALANCE SHEET EVENTS 17. There have been no significant èvents affecting the company slnce th6 financial yegr-end. 18