Raidio Failte Teo IA ¢ompany limited by guarnnt¢•, not havlng a share capltal) Annual Report and Unaudited Financial Statements for the financial year ended 31 December 2023 *ADB6DZQR* 0710912024 COMPANIES HOUSE Quarter Chartered A¢¢ountants St Anne's House 15 Church Street Cathedral Quarter Belfast 8T11PG A18 Company Number: N1057683 Charlty Number: 101643 Raidio Failte Teo IA company 1Smited by guarantee. nol havlng a shar• capltal) CONTENTS Page Trustees, and Other Information Trustees. Annual Report Statement of Trustees, Responsibilities Independent Examinels Report Statement of Financial Activrties 10 Summary Income and Expenditure Account 11 Balance Sheet 12 Notes to the Financial Statements 13-18 Raidio Failte Teo IA company Ilmlted by guarantse. not havlng a sharo ¢apltall TRUSTEES, AND OTHER INFORMATION Trustees Gearoid O Caireaiiain Dr POI Mac Cana Aine Nic Gèarailt Ciaran O Pronnlaigh Fergus O'Hare Caoimhe Nl Chalhail {Appoinled 12 September 2023) Gearoid O Muilleoir {Appointed 12 September 2023) Company S•cr•tary Dr POI Mac Cana Charity Number in Northern Ireland 101643 Company Regi8tratlon Numb•r N1057883 R•gl8t•r•d Offlc• 30 Srasd Dhubhaise Béal Feir5te BT12 4AL Prlnclpal Addre9• 30 Sraid Dhubhaise 8éal Feirste BT12 4AL Indepèndènt Ex*mln•r Quarter Chartered Accountants St Anne's House 15 Church Slffjet Cathedral Quarter Bélfast 8T1 1PG Prlnelpal Bankèrs Ulster Bank Unil G Westsvood Centre 8elfa$l 8T1198Q Raidio Failte Teo {A ¢ompany Ilmltod by guarnnteo. not havSng a share c*plt*ll TRUSTEES, ANNUAL REPORT for the financial year ended 31 December 2023 The trustees presenl Iheir Tiustees. Annual Report, combining the Directors, Report and Trustees, Report, and the unaudited financial statements for the financial year ended 31 De*mber 2023. The financial statements are prepared in accordance with the Companies Act 2006. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice 8pplicable lo charities preparing Ihelr financial statements in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021. The Trustees, Report contains the infomiation requiréd to bè provided In the Trustees, Annual Report under the Statement of Recornmended Practs'ce ISORPI guidelines. The truslees of the company are also charity trusteès for the purp05e of charity law and under the company's constr￿lI0n are known as membets of the board of tiustees. In this report thé Ifusteès of Raidio Failte Teo present a summary of its purpose, govemance, adivitiès. achievem8nts and finances for the financial financial year 31 December 2023. The company is a registered charity and h8nc8 the report and results are presented in a form which complies with the reqU1￿MentS of the Companies Act 2006 and. although not obliged lo comply with the Statement of Recommended Practice (Charities SORP effective January 2015), the organisalion has implemented ils recommendations where relevant In these financial slalements. M188ion, ObJectlve8 and Stratsgy M188lon Slaternent Our mission is lo promote the Irish language by providing comprehensive, inclusive community radio and media services through the medium of Irish. Charitable objectives and Ol¢om Key ¢ommitments Raidio Failte Teo is registéréd as a charity by the Charity Commlsslon for Northern Ireland (effective from 1610212015), The company continues to meet land exrAedl it's charitable objectiv85 in relation lo the advancement of arts, culture, herila9e. education etc. In addition, the organisation meéts thé obiectivas and largels sel out In the Ofcom Key Commitments agreement including objectives in relats'on to broadcasting, community training in radio skills and the provision of Community a¢￿$9 to the media. Raidio Failte proactively engages in outreach activibes Ihereby increasing the overall capacity of the slalion and increasing its aC￿SSibilty to a wide range of community Stakeholders. As part of our commitinent lo provide an attractive and welcoming spaca for staff. volunteer broadcasters and visito alike and lo contribute lo community regeneration in an area of high levels ol deprivalion, a coffee shop 'An Lon Dubh. Was opened in the building (April 2019}. An Lon Dubh café was establishèd as a social enl8rprise initiative, offering quality coffeellea and light. healthy food choices. prov￿Ing a pleasant space for Irish sp8akers, learners of the language. the local community and others to meel, fvrther increasing accessibility to the wide range of community facilities and services offered by Raidio Failte, in furtheran￿ of our charitable obj8Ctives. Raidio Faille continued to operate An Lon Dubh wmmunity calé throughout the period January lo Derxmber 2023. The Directors & Management wish lo thank the staff Ipasl and presentl of An Lon Oubh café for their hard work and commilrnent to providing a welcoming seNice. The existing model for the operation of An Lon Dubh café will be subject lo review in the new financial year. Stiuideo Feirsle, a community-based recording studio, was officially launched in December 2022 and continues to provide servi￿$ lo local musicians, other media organisalions, school and community groups and others who can avail of sound-recording services al affordable rates, with input from accomplished, professionally trained sound engineers. For example, in this period, members of the Chinese community were invited to the slalion lo participate in $ound-récording and languagè-18aming projèct$. The Directors of Rapjio Failte T80 can report also that the station continuès its involvement in a rangè of cross-communityloutreach inth'ats'ves, encouraging the participation of members of th8 wider community in the work of Raidio Failte as broadrAsters, listeners and as visitors to the station. For example, a very Suc￿ssfUl cross-community project (An Gortl based on the local history of the Divislshankill area was held. Raidio Failte continues to collaborate with Raidi6 na Life {the only other li￿nsed community radio station on the island of Ireland Ihat broadcasts on the airwaves through Ihe medium of Irish) and we support a number of organisabons throughout Ihe north of Ireland to produce radio content15ubject to availability of resources). We are pleased also to report on-going collaboration wrth Raidié na Gaeltachts who now use Raidio Failte broadcasting Raidio Failte Teo (A cornpany lirnited by guaranteg, not havlng a share capltall TRUSTEES. ANNUAL REPORT for the ffinancial year ended 31 December 2023 facilities on a regular basis. Raidio Failte continues to explore new methods of engaging wlth our volunteer broadcasters and other stakeholders - including by hosting small community events al the slalion, the provision of station-basèd and online training in community radio broadcasting skills and by means of on-going initiatives for engaging with the community. such as the radio series Gulh an Phobail (Voice of the Community). Raidio Failte is committed lo strengthéning community engagement on an On￿oing basis, with online and off-site training programmes dovetailing with increasing levels of studio￿aSed radio production and face-to-fa￿ community engagement projects. Management and staff of Ihe station continuously seek new opportunities to engage and collaborate with the Irish language community of speakers and learners of the language, both locally and wider afield and with the local community. including on a cross-community basis, in pursuance of the overall charitable objectives ol the organisalion. As part of its remil as a community radio slalion to support other community and language organisations, staff and volunteers from the slalion attend events and conduct interviews with representative5 of numerous organisabons on an on-going basis throughout the year. The enhanced broadcastinglrecording facilities at the station enables live broadcasts from ￿mOte locations as well as recordings of interviews. talks. book launches elc for broadcast on Raidio Failte, further increasing access to a wide range of broadcasts in the Irish language. The Direclors & Menagemenl would like lo commend Raidio Failte slaff who have worked tirelèssly throughout 2023. towards providing a high-quality Irish language community radio Service to the Irish lan9ua9e and the locallwider community lin¢luding those Staff members Involved in financial administration. training, building management, technical. community outreach, business development. community cafè and sound recording roles). Flnanclal Revlow The Directors of Raidio Failt& Teo gratefully acknowledge all monetary support received sincA8 the inceplion of the community radio servi￿, Iowards the furtherance of OUT charitable objectives and lo creating community benefit notably thè on-going support of Foras na Gaeilge (since 2008) and of Northem lffjland Screen-An Ciste Craoltoireachla Gaeilge IILBF) {sinc£ 2011). The Directors can report that the objectives and targets agreed with Foras na Gaeilge in relation lo the promotion and usage of the Irish language through the medium of community radio havé been met and exceeded, with the input and Cowoperats'on of a wide range of Irish languagè organisalions and individual speakers 8nd learners of the languag8. During this period, Raidio Failte gratefully acknowledges continuation funding received from Foras na Gaeilge-SrAim Raidio Pobail 2022-2024 (Community Radio Scheme). supporting 4 posts and ongoing broadcasting, training, volunteering. community outreach. awareness raising (in relation to the Irish language and lo the station ilselfj, archiving and the ongoin9 development and maintenance of the community building. Raidio Faille was successful in attracting fvnding of £243,600 annually for tha period 2022-202412019.2021 £216,000) The Directors wish also to gratefvlly acknowledge the support of Colmcille-a funding InlllalSve administered by Foras na Gaeilge. for a project carried out in 2023. {Colmolle is a partnership programme bet￿e8n Foras na Gaeilge and Bèrd na Gaidhlig. promoting the use of Irish Gaelic and Scottish Gaelic in Ireland and Scotland and be￿een the hvo countries). Funding of £8,665.43 was granted by Colmalle in this period, with a further £1.924.60 gratefully received from Manx Heritage Foundalion-CU￿Ure Vannin towards the Manx language elernenl of the project. Furthennore, the Directors gratefully acknowledge Foras na Gaeilge supwt in the ft)rm of Scéim Tacalochla Fuinnimh, towards escalating energy cosls1£7,668 65 received 2410412023) The Directors are pleased also lo report the continuation of funding from Northern Iréland Scr88n Iflsh Language Broadcast Fund lor a lurther year {Apnl 2023 - March 2024.. £85,000). Thè ongoing support of Northern Ireland Screen-lrish Language Broadcast Fund for the Raidi6 Failte Broadcast Training Scheme is a highly valued and critical element in the succéss of Raidio Failt8. SUPPOrting employment and Contributing to 5ki115-building within the Irish speaking community and to thè growth and development of the overall Irish language media infrastructure. Awarded on a contract basis, for the development of the training, radio production and archiving capacty of the station, it is a very valuable support package for the provision of community radio se￿i￿S by Raidio Failte. Regular workshops. group and one-lo-one training sessions in sound ￿CordIng, broadcasting, sound edib'ng and mixing and podcasting are held on a regular basis throughout the year. A popular. always over-subscfibed radio broadcast training ￿Urse for female participants was held for a third year in $uccession dunng Februarylmarch 2023, with very posits.ve outcomes and feedbac*. Raidio Failte training Courses impart valuable, translerable skills. nurturing new talent and produce h(qh quality ￿nient for broadcast, the￿bY InC￿a$1ng audien￿ reach. The Directors can report a150 that the Nl Screen-ILBF Scéim na Léirilheoiri Raidio Faoi Oiliuint (Trainee Radio Producers Scheme) has been re-iftslated, with one trainee to be placed with BBC & Raidio Failte over th8 pèriod September 202>August 2024 (following successful engagement between Raidio Failte management and Nl Raidio Failte Teo IA Company Ilmtted by guarnntee. not having a $haf¢ capitall TRUSTEES. ANNUAL REPORT for the financial year ended 31 December 2023 Screen-ILBF}. This Iraining schemé. initiated in 2021-2022. whereby 2 trainee radio prtsJuc8rs were placéd with Raidio Failte for a period of 12 months, was proven to be a great success by Raidio Failte. contributing to skill-building in radio broadcasting through the medium of the Irish language and to the growing success of Raidio Failte. further slrengthening its appeal lo existing and new listeners. The Directors of Raidio Failte very much welcomes the re-instatemenl of Scéim na Léiritheoirl Raidio Faoi Oiliuint and are hopefvl that Ihls training opportunity in radio production skills will become a constant, on-going element of Nl Screen-IL8F support going foThvard. In this period. Raidio Failte continues to benefit from funds secured for a Business Oevelopmenl Offi￿r {June 2022 - March 20241 and for a Social Ent8rprise Development Officer-café An Lon Dubh {August 2022 July 202S). The Board is very grateful to Départment for Communities and to the administrators of these funds An Cisle Inffteistlochta Gaeilg8 and The Rank Foundation {￿SpeCtive1Y) lor this very valuable support. The Directors are esperjally pleased to report that during this period Raldio Failte was successful in attracting (for the first timel much-needed additional revenue fiJnding Irom Belfast City Council towards the increasing running costs associated with the operation of the community buildin9 (amounting to £20.0()J approx, awarded on an annual basis for the penod April 2023- March 20261. Furthermore. the Directors are delighted to report that funding of £100,000 over a 3-ye8r period has b88n secured from Domiant Accounts Fund Nl (delivered by The National Lottery Communty Fund) towards sucrAssion planning for the organisalion. The funding has been awarded primarily lo support mentoring of new 8mploy88s lo be appointed in key financeladministration and broadcasting roles wilhin the organisation-wilh additional budgets for financeladministrabon. staff, building management, digital infraslruclure and social enterprise development support, conlribuling lo the overall strengthening and sustainability of the organisalion into the future. The Oireclors 8fg extremely gralèfvl also lo GaelchiirsallO8partmenl for Communities for employment support over month period (October 2023-June 20241 under the OBAIRlJob Start scheme, supporting a young Irlsh speaker to pursue furthér traininglemploymenl opportunities. In addition, the Directors gralefvlly acknowledge receipl of funding in this period for a number of small prciects, including.. 8ella5t City Council Good Relations funding lor a cross-community, local hislory (Divlslshankill) project (An Gort.. £3,310) An Cisté Infheisllochta Gaeilge (Towards Sliuideo Feirste.. £4.5001 Conradh na Gaeilge {An Ciste Spreaglha.. É1,000} Glor na nGa81 (Biathu.. é1,0001 The Board of Directors wish to keep on record our gratitude to the wrde range ol community and statutory stakeholders who supported th8 capital build project at 30 Sraid Dhubhais8 {complel8d October 2018) - in particular Belfast Clly Council. Departmenl for Communits'es, An Ciste Infheisllochla Gaeilge, the Alpha Programme, Nl Housing Executive, Department of Infrastructure, Foras na Gaeilge, Nl Screen-ILBF. Raidio Faille staff and volunteers and the many communty Stakeholders, both individuals and organisalions who supported us. The Directors especially value the 'in-kind' support of the many Irish speakers and learners who have donated thelr time, talents and energy to the stats'on as broadcasters and in other supporting roles. The Directors estimate (using Ofcom approved rates) that th8 monetary valu8 of the work and serylces provKléd by volunteers and others dunng the year was £49,238 {2022-£39,8331. Flnanelal Results At the end of the financial year the company has assets of £221.989 12022 - £241,998) and liabilities of £14,376 {2022- £14,237). The net 8s8ets of the company have decreased by £(20,1481. Reserves Posltlon and Pollcy Reseryes are needed to bndge the gap b8tsveen spending and receiving of income, lo cover unplanned emergency repairs, other unforeseen expenditure andl or loss of funding. The truslees consider the ideal level of resew as at 31st December 2023 to be £118,493. which is equivalent of 3 months running costs. The unrestricted reserves of Raidio Faiiie Teo as at 31st December 2023 is £116,208. Of this balance £28,743 can be realiséd by th8 disposal of tangible fixed assèts. The charity has restricted reser¥es totalling £91,405 at 31st Dewiber 2023. Of this balance. £27,156 is in ￿lation to a grant provided by ILBF of £85.000. which is lo be utilised during the period 1st April 2023- 31st March 2024. Prlnclpal Risks and Uncertainli08 In common with Ofrom-lirknsed community radio slalions èlsewhere. Raidi6 Failte has operated its FM service with a S-kilometre broadcast restriction since 2006. with broadcast coverage limited lo the Belfast area. In 2018 Raidio Failte submitted an applicats'on to Ofcom in a bid to gain an extension to existing coverage for the community radio servic?. Raidlo Faiita Teo IA coinpany Ihllgd by guarantsè. not ha¥lng o shar• capltaD TRUSTEES, ANNUAL REPORT for tha fm8ndal year ended 3100¢omb•r2023 In thglr d8c161on18gplembor 2019) Oteom 9fdnted an oxt8nslon of the communlty 8￿ce. approval lor pw kncrn888. Raldlo Faiits wlll conHnuo lo lobby for fvther exlenslon8 ta lh9 covorage area, In Ilne wAlh demand from ¢))mmunldèè outsfrje thè cUr￿nt tJroadGaet grea. In addrtlon, slatlon management conllnuo to mnltor d6velopmonts and 0W¢X8 opporbjnlllas (subied lo furxllng) Irj ralallon ts 8m81￿3¢018 DAB. R&ld16 Fallle Is fundad prlmarlly by F¢x88 n• Goallge-￿tM Raidlo Poball and Nl Scre8n4rfsh Languag6 Broadc451 Fund. We are hopofiJl that PundirKJ Irom th080 bodlos VAI contlnue, and wo ar8 alway9 awar• ¢f Ihè n8ce8slty to S88k othor addlllonal 8ourc4s of fvndlng. As ￿FI)rIed abovo, Raldlo Faiiia wag su(*898ful In attsHctJng &ygar ikndlng from B¢llast CNY ￿nCll and Irom Tha Nattonal Lottery Community Fund-Domwnl Accounts Nl in thi6 perlod. Further . opportunll*s to strwlhen ts eommunlty radlo brO￿L￿sUng (an oryJanlsaUono1 prforfty) ￿ntInue to be goughl Futurn D•valopments From Its base at 30 Sraid DIN￿h81$9. Béal Felrntè, 8T12 4AL, th8 fyn¢tors and manao•mont of Ritdlo Fail18 Teo str￿0 to maxhlg8 1th8 benellts of locauon In a purpo8&bbJlll ¢entr8 for Irlth language rodio broad¢a$tiw, trJlnlng, 8ound edliiTrJ 4nd aound arohlvlng loperatlanal 8ln(* 0(a￿er 2018). The Raldkl Faltlo c•ntro Is loca￿1 In sn area ot multlple dc4thallon, provkllrva BeN[￿s and fadllll85 that conlrlbute to tre alIe￿allon ol and 80¢1al exdu810n. Furlhgmwre, ty vlrtug of Its locauon al the edge ol dty c6ntro. Rakllo Fdllte wovklo$ In thdwfve, o¢cas$lbt• Gommunty rodlo ¥JNIco ond 068odAlod athlle8 that as8Esl In provldtr¥J furthor Impetus to overall Gaeltacht Quart8r oGonomlG r8generaUon P￿rt8, benèfittlng Ihe dty a¥ a whole. The centr6 8kn8 to oxpand Irtsh language medla and Gommunlty Inlmlru¢iw• to supprt wthere pos8lbl•, other Gommunllh¥ who wlsh to Incfft080 thelrcapadty Sn the lrfsh1gngu8g8. Tho comlNJ perfod wlll lee th• r011h•llon ¢16ueuMlon plan8. parttcularfy the r•crullm•nl of 2 now ••nlor m•mb•r• of 6taff On fin8nc*8dmlnl8tratlon arhy brt>adcAs￿ng rt48s) and the rolllng out of a o)mwehen8fv8 mentorf Pfogrammg b 6n8uro Ihal Uie new stsff m8mbefS 8Tr ¢qulpped lo cawy Ihe organlsqllM foThYArd In thèlr (egpecU¥e roles. In •ddllion, s•curlTrJ conllnuatlon fundlng fvom Fms na Geol*frStxllm Raldio Poball (Cixnmunlty R*Y Soh•m•l 2tr254Q27 %¥lD be a prlodty In the fiow IlninclAI year, Tru$tOfr1 Th8 current truotsea am a8 out on page 3 Gear¢)kl O C8lrnallaln Dr POI Moc Cana Atne M¢ G8aralll Clatan O PThntatgh Fa￿u9 Owa ca01m￿ Nl Ch8lhgI (Appolntwj 12 Soptgmber 2023) G&arOtyJ O Mviifeolr (Appolnted 12 Septsmber 20231 In •¢¢ordanc0 ￿1h th• Arfl¢l•$ ol Aofjoclailon, Ihe dkofknr4 retlt• ￿ INrd Annual Gorwal Meeong and, bel ellllblg, can offer Ihemg•lw far rn4l•clloA. Th8 $mtary wtho $etVod durlng fv Ilnanclal yegrwa Dr POI Mac Cana Compllaftc• wllh Sgctor*lldo L•ul$lallon and 8tsndard8 The company engages pro4ctlvely wlth legwallon, 8tandard8 and &3de8 whlch are developed for Ihe lector. Ral Fallte Teo £ubscrfb88 to and Is cLJXPllanl wElh the lolkmlng.. The Compan108 AGt 2LIO The Chadues SORP {FRS 1￿2) Apprvvgd by the aoanl of TnMtse9 on 3 Sgptembgr 2024 And slgned on Its bghalf by: Dr P61 M&c Cana Dlrector Ine Nlc Ooar Dlrb¢tor Raldlo Faiite Teo (A company Ilmltod by guar4ntse, not hovlng a Sharo ¢apltal} STATEMENT OF TRUSTEES. RESPONSIBILITIES lor the thandal year er*Jed 31 D￿rnber 2tr23 Tho tnmtees. ¥•*0 èrn afoo dlrootorn ol Raldio FaHte Teo lor th• purpos•$ ol company law. arn re8pon6foio weparlng the flnandal 518tement5 fn accordan¢g ￿1h ap￿ICable10W and Rgulautsns. Company rnqUI￿ lh8 tnthea 08 tho drgct¢r6 to Prepa￿ finer￿￿1 8tstsmont8 for eath fln8nclo1 year. Und•r that law tho Iw$tee5 hav8 eteded to prepare the flnandal stslemenb In accordonc• wlth Unlted Kngdcm Gorofal A¢cepW A¢tr)untlng Practlcè Iunlted Klngdom Aeo)unlng Stsnd8rds and appllc•ble law) Inclu￿1￿ FRS 102 The Flnfyndal fie￿￿n9 StsI￿ard 8ppIIG8bkn In th8 UK and Repuljlc ol Ir818nd' S8oUon 1A (Smo11 EnlMeJ). Under company law the tnj91￿ mu9t not epprove the financlal 818teft*nls unle8$ they are sallsfled thal thay 9￿￿ a ft￿8 and lllr Wew of the 6lal8 oFalTralrs olthe company 8nd ol •uWu$ ordefldt oltha company for th4t peTlod. In prepothg Ih6se flnan¢t81 ststernerts, the Inmtses rwulred to: $8lecleuItob￿ aGcounUng polkl8s and eFply Ihom con$lBteftlly, rnakeludqaments 8nd ¢8llmate$ that &M r8a80nabie and piudenl., stole wh8lhgr the finandal staterngnts been prepared In ac¢ordanc* th• Mlwani llnandal repdng fram￿¢Xk, Id8niity gtondanls, aftd not8 th• effecl th• roa￿n3 for •ny mat•rfal dopartur8 from t￿80 #taTr￿ardS', and prepare. the linandal .8￿t￿onI8_ w .Vw.golr& concern_bails unlw It 1$ Ingpwylate to presumé that r￿Mpar￿ VAII contlnua In operatkm. IrLtstse¥ l￿flm1 Ilmt they ttav• c￿nplIed wllh th4 •bove requlrements In prgparfng Nn4nèW 8lalemwi& Tho trustee8 aro fg8pon8llJlo knr kgeplng adequatg ac￿untIng rn&Jfd6 tho1 Of• sumdfjrt to SI￿ and frxplaln the rxAnp•ny's transacUon9 ¢Jlsdose vAth reasmable 8¢rura¢y at Bny the finandal p031tlon of the wmpgny and anablo Ihgm to ensur¢ thal tho flnanclal alat￿Ment6 (yjm￿ wlth. They gré 8180 rospon81bl8 for 6afeguardlnq thè #S8018 of thg o)mpany and h•nG¢ IDI lakts¥ f0Awn0b￿ sl•p• for lh• pr•venll)n *KI d•la¢tlon d fraud aftd at￿r Irregularilb& Approved by the 8oaid ¢f Trugteos •n 3 8optsmber 2024 qnd Jlgnod on l¢• bghall by: Dr POI M8cCana Dlr•ctor In• Ni¢ Ggalallt Dlreetor Raldlo Faiits Teo IA ¢ompgry Ilmftod by ouaAnloffj not hwlng a ¢upltal) INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF RAIDIO FAILTE TEO We have oxarnlned the fl￿and81 8tatemgnts ot trg cornpany lor lh• fln•n¢lo1 year ortdod 31 D•c•mbgr 2023. whlch eJomprf88 Ihe Ststom￿l of Flnanc181 A￿l￿tle8, the Summary Inexsma 8nd Expgndtturn Accoun( th8 BalorKeJ Sheot qnd th? noles. Thk rnport Is madg saloty lo th& companys mambèrs, es a toty. In ￿rdon¢8 wlth Chapter 3 of Part 18 of Ihe Componl88 A¢t 2QQe. Our work hay béen undertaken so that we mlght tnmple the financlal stgthgnl$ that we hgve bogh enggged to cDmpllg. rfjport to Ihe Boarnl of Tru$teg6 that we lov8 done 60, gnd Blatè thosé matter3 that we hava agreed to ¥tsle to them In thlg ieport lor no olhor purp096. To ts fv118818Xt8nt pennltted by law. we do not a¢eept or a$$um0 responslNllly lo anyono ether Ihfjn the company and tho o)mpanV$ membern. aj a body, lor our worff. Or1￿ tNs RoBpoCtIv• 10spon$lblllU¢8 ot Iiu810•9 and oxamln•r The company8 Iru8t888 {who érè a180 the dtrector8 oftha eompany lor thè puwo80¥ ol company law) responBlbl• for Itts prep8ratlon ol Ihe Iln8ndal 8tatements In accofdaneè wlth tha requlrnmènt8 of th• Cornpbnhs Act 2006. Th• c¥mpanY$ trustees conslder Ihal en awjlt Is not requlrgd lor th15 flnanc141 y•4r under Gh4ptor 3 ol Pfjrt 18 01 th• Compan1￿ A¢i 20[￿ and Ihfjtofi Independent exBmln8tkJn Is requlred. It Is our r88pcfftdblllty ts: oxomlne thg flna￿l￿1 stalemenl8 und&rse¢tlon 66 of the Ch*1t*8 Act follow th& tseedur8* lald dthvn by general Dlrecuons gfv•n by the Charfty ConThls8lon for Nortlwn Ifolond undgr09 on 8619llb) ofth? Chartla8 Art And •tato whother partlcular mgttèrg hav• wna tt) our attantbn. Ba•lo ol Ind•p•nd•nl •x•mln•r'• r•port Wa hov8 examlned yJJr compAny Iln8ndBI 51atements 4s requlml under eecllon 65 of Ihg Chafill8# Ad and our ex8mln•lJDn wa8 c8ffl8d out In ac￿rdanc* vlth thè y6￿ra1 Dlmctlons gl¥en by thè Charfty Commlsslon for Northem Ireland under $ecUon 65(9}Ib) of the Charfues ACL An examlngtl¢n Indud6s a ro￿•W ol tha 4LrtyJnln9 record8 ko0 by the cmipary and a comp8rl8on of Ihe financlal statsmonts prn8ent8d wlth th080 f8C¢fts. It also IncI￿￿e8 Lxnslderauon of any unusual Items or dbdosur8s In th8 flnond81 st•tam¢nts and 8o¥klng o￿lanatIOnS fr￿￿ tli6 trustsés cone*rnlng ary luch ffiatt￿ The procedure8 Lmdertaken do not provlda all the eVIden￿ that would b¢ requirod In en audit ond consequgntsy no Onlon 18 glven as to vth•thar the a¢¢oun18 Pre￿nI 8 Irue and fall vlaw Ind th• rnport li Ilmitsd ta Iho8• matter8 stt out In the Btalement b&low. In wnngcllon our •x4mknqUon. no mAtt•r hA8 com• to our attenuon whlch olve$ u8 ¢Auao to b•lkv• Ihat In, any matort•l iè$p a¢¢ounllno rocord8wor• not kopl kn 4¢ccId￿¢9 Wtlh 88cUon 388 01 Compante5 Act 201 the nnandal s14ternanis 40 not qcooAlw#h those accounllng records the fflnandal 8tatornonts have boen prwred Fn accordano vAlh the aco)unUng rnqulr8ments ol sa¢iton 01 the Companlos Act 2006 and wlth Ihe m8lhc