COMPANY REGISTRATION NUMBER: N1046528 CHARITY REGISTRATION NUMBER: 101765 Bready & District Ulster Scots Development Association Company Limited by Guarantee Unaudited Financial Statements 31 March 2023 KEITH MCELHINNEY & CO Chartered Accountants 42A Clooney Terrace Waterside Londonderry BT47 6AP
Bready & District Ulster Scots Development Association Company Limited by Guarantee Financial Statements Year ended 31 March 2023 Page Trustees, annual report (incorporating the director's report) Independent examiner's report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements The following pages do not form part of the financial statements Detailed statement of financial activities 19 Notes to the detailed statement of financial activities 21
Bready & District Ulster Scots Development Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2023 The trustees. who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023. Reference and administrative details Registered charity name Bready & District Ulster Scots Development Association Charlly registralion number 101765 Company registration number N1046528 Principal office and regislered 231 Victoria Road office Bready Strabane Co. Tyrone BT82 OE8 The trustees Mr N Allen Mr. IA Henderson Mr SR Kelly Mr K McFarland Rhonda Shannon Independent examiner Keith McElhinney Chartered Accountant 42A Clooney Terrace Waterside Londonderry BT47 6AP Structurej governance and management The Charity is managed by an Executive Committee which consists of all the appointed Irustees. and the selection of any new Truslees is dealt wilh by that Committee. The Charty was incorporated on 16 May 2003. and is governed by its Memorandum and Articles of Association dated at that time. Objectives and activities The purposes of the Charity can be summarised as follows" To facilitate the examination, exploration and appreciation by all of Ulsler Scottish history. herilage and culture To promote Culture confidence and civic pride, bolster morale of Ihe communiiy and harness the abilities of local people
Bready & District Ulster Scots Development Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2023 Objectives and activities (conlinued) To promote and preserve the culture and heritage of local people, and assist in social and economic well being through local development programmes To encourage the establishment, maintenance and development of other community associations within the area of benefit, providing support. information and advice in furtherance of this objective Main Activities to further the Charity's purposes for the public benefit Bready and District Ulster Scots own and manage the Sollus Centre which provides a space and support for connected groups which brings 300 people from the community into the centre weekly. We deliver outreach tuition programs in Ulster Scots Music and Highland dance to over 500 children in various schools and community groups in the North West. as well as programs for good relations departments in local councils. promoting Ulster Scots Culture. We offer guidance on funding opportunities. governance, eveni planning and training needs as well as assisting member groups to access funding from a range of sources. Deliverance ot talks and workshops to a wide range of audiences including local history groups and community organisations, as well as local heritage tours in the local area. Present interactive history. language and music workshops in schools. Produ educational material on a range of relevant topics as well as maintain an informative and current website and social media presence Provide, manage and resource local historical artifacts and databases that are used to assist visitors to research their herilage and links with the area. Achievements and performance The main focus of the group continues the development of Ulster Scots throughout the North West, as normality returns we have delivered history, language cullural workshops in the hall and with our outreach activities these workshops have been delivered across the region. With our Dance and piping project back teaching in schools, meaning we were able to exceed our target of approx 800 receiving dance and musical tuilion. We have been lucky that our many volunteers have remained and are now busy with an increase in numbers in Ihose young people attending our dance classes in the hall, and with increased number of showcase events and invitations trom other groups for the dancers to entertain has seen the hall back to its busiest with rehearsals since before Covid. Happily, the use of our hall during the day is increasing, despile many groups/ organisations still using online meetings. we have been able lo this due to the use of our new audio/video equipment to host hybrid meetings in the main hall one ot the very few in the Council area. We continue to fundraise to maintain the activities we are delivering al the moment. and with the support of all the user groups we continue to meet the challenge. Flnanclal review The Charity incurred a deficit for the year to 31 March 2023 of £8.75412022: delicit £905), and at 31 March 2023 had net assets of £443,207 {2022: £451,961). As at 31 March 2023 the Chariiy had no funds in material deficit
Bready & District Ulster Scots Development Association Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (¢onllnued) Year ended 31 March 2023 Small company provislons This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees. annual report was approved on 12 December 2023 and signed on behalf of the board of trustees by: Mr K McFarland Trustee
Bready & District Ulster Scots Development Association Company Limited by Guarantee Independent Examiner's Report to the Trustees of Bready & District Ulster Scots Development Association Year ended 31 March 2023 I report to the trustees on my examination of the financial statements of Bready & District Ulsler Scots Development Association I'the charity,) for the year ended 31 March 2023. Responsibilities and basls of report As the trustees of the company (and also its direclors for Ihe purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the '2008 Act.) and the Companies Act 2006 {'Ihe 2006 Act,). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination. Having salisfied myself that Ihe accounls of the company are not required to be audited under Part 16 of Ihe 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carrted out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65{91(b) of Ihe 2008 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act" or the financial statements do nol accord with those records. or the financiai statements do not comply with the accounting requirements of section 396 of the 2006 Acl other Ihan any requirement that the accounts give a'true and fair, view which is not a matter considered as part of an independent examination., or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102).
Bready & District Ulster Scots Development Association Company Limited by Guarantee Independent Examiner's Report to the Trustees of Bready & District Ulster Scots Development Association (Gonlinued) Year ended 31 March 2023 I confirm that there are no other matters to which your attention should be drawn lo enable a proper understanding of the accounts to be reached. Keith McElhinney Chartered Accountant Independent Examiner 42A Clooney Terrace Waterside Londonderry BT47 6AP 12 December 2023
Bready & District Ulster Scots Development Association Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2023 2023 Flestricted tunds Total funds Total funds 2022 Unrestricted funds Note Income and endowmenls Donations and legacies Charitable activities 30,331 44,043 74.374 138.644 168,975 44,043 137.905 46.627 Tolal income 138,644 213,018 184,532 Expendlture Expenditure on charitable activities Total expendilure 77,883 143,889 221.772 221.772 185,437 185,437 77,883 143,889 Nel expendilure and net movement in funds (3.509) (5.2451 18,7541 (905) Reconciliation of funds Total funds brought forward Total funds carried forward 449,919 2,042 451,961 452,866 446,410 13,2031 443,207 451.961 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 9 to 17 forrn part of these linanclal statements.
Bready & District Ulster Scots Development Association Company Limited by Guarantee Statement of Financial Position 31 March 2023 2023 2022 Nole Fixed assets Tangible fixed assets 13 489,208 469,398 Current assets Debtors Cash at bank and in hand 14 87,711 6.717 94,428 41,641 32,478 74,119 Creditors: amounts falling due wilhin one year Nel current assels 15 47,247 47,181 536.389 24,006 50.113 Tolal assets less current liabilities 519,511 Creditors: amounts falling due after more than one year Net assets 16 93.182 443,207 67.550 451,961 Funds of the charity Restricted funds Unrestricted funds 13,2031 446.410 2,042 449.919 Total charity funds 19 443,207 451,961 For the year ending 31 March 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating io small companies. Directors, responsibilities: The members have not required the company to obtain an audit of ils financial statements for the year in question in accordance with section 476. The directors acknowledge their responsibilities for complying with the requiremenls of the Act with respect to accounting records and the preparation of financial statements. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. The statement of financial position continues on the following page. The notes on pages 9 to 17 lorni part of these flnancial statements.
Bready & District Ulster Scots Development Association Company Limited by Guarantee Statement of Financial Position {contlnued) 31 March 2023 These financial statements were approved by the board of trustees and authorised for issue on 12 December 2023, and are signed on behalf of the board by: Mr K McFarland Trustee The notes on pages 9 to 17 form part ot these financial statements.
Bready & District Ulster Scots Development Association Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2023 General informatlon The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered chariiy in Northern Ireland. The address of the registered office is 231 Victoria Road, Bready, Strabane, Co. Tyrone, BT82 OEB. Slatement of compliance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to charities preparing their accounls in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP (FRS 1021) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling. which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptions No cash flow statement has been presented for the company. Judgements and key sources of estimation uncertalnly The preparation of the financial statements requires management to make judgemenls, estimates and assumptions that affect the amounts reported. These eslimates and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. Fund accountlng Unrestricled funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricted funds earmarked by the truslees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes- restricted income funds or endowment funds.
Bready & District Ulster Scots Development Association Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 31 March 2023 Accounting policies (contlnued) Incomlng resources All incoming resources are included in the statement of financial activilies when entitlement has passed to the charity. il is probable that the economic benefits associated with Ihe transaction will flow to the charity and the amounl can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when Ihere is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case Ihe value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracled seNice. This is classitied as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspenl, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruais basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the slatemenl of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activities, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims tor the benefil of its beneficiaries, including those support costs and cosls relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expendilure that is neither relaled lo raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attribulable to a single activity are allocated directly to that actlvlty. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assels carried at revalued amounls are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 10
Bready & District Ulster Scots Development Association Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Accounting policies {conllnued) Tangible assets (continued) An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revalualion, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain. in which case the loss is shown wilhin other recognised gains and losses on the slatement ot financial activities. Depreciation Depreciation is calculated so as to write off the cost or valualion of an asset, less its residual value, over the useful economic life of that asset as follows- Freehold property Fixtures and fittings 20/0 Straight line 10 % straight line Impairment of fixed assels A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing. when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of Ihe recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets thal includes the asset and generates cash inllows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisilion date, allocated to each of the cash-generating units that are expected to benelil from the synergies of the combination, irrespective of whether other assels or liabilities of the charity are assigned to those units. Govemment grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipienl, it is recognised in income only when the performance-related conditions have been mel. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a 11
Bready & District Ulster Scots Development Association Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 31 March 2023 Accounting policies (¢ontlnugd) Financial instruments A linancial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument. Basic financial instruments are inilially recognised at the amount receivable or payable including any related transaction costs. Current assels and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instrumenls are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment. Olher financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value ot the future payments discounted at a market rate of interest for a similar debt inslrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement ot financial activilies, with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial aclivities in which the initial gain was recognised. For all equity inslruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on Ihe basis of similar credit risk characteristics. Any reversals of impairment are recognised immediately, lo Ihe extent that Ihe reversal does not resull in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Limited by guarantee Bready & District Ulster Scots Development Association is a company limited by guarantee (restricted to £1 per full member) and not having a share capital and is registered as a charity 12
Bready & District Ulster Scots Development Association Company Limited by Guarantee Notes to the Financial Statements (¢ontlnued) Year ended 31 March 2023 Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Grants Department tor Education Lottery Fund Derry City & Strabane DC Grants Ulster Scots Agency Granls Community Foundation Capital grant release 88,500 7,390 30,760 88,500 7,390 51,841 9,250 1,380 10,614 168,975 21.081 9.250 1.380 10,614 138,644 30.331 Unrestricted Funds Reslricted Total Funds Funds 2022 Grants Department for Education Lottery Fund Derry City & Strabane DC Grants Ulster Scots Agency Grants Community Foundation Capital grant release 88,362 10,153 9,535 88.362 10.153 27,411 4,990 17,876 4,990 6,989 115,039 6,989 137.905 22,866 Charltable activities Unrestricted Funds Restricted Total Funds Funds 2023 Performances & Activities Sale of goods/services made or provided by the beneficiaries of the charity Flent receivable 17,390 17,390 10,300 16.353 44.043 10,300 16.353 44,043 Unrestricted Funds Restricted Total Funds Funds 2022 Performances & Activities Sale of goodslservices made or provided by the beneficiaries of the charity Rent receivable 29,118 112 29,230 4,532 12,865 46,515 4,532 12,865 112 46,627 13
Bready & District Ulster Scots Development Association Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2023 Expendlture on charltable aclivilies by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Charitable Activity Support costs 71,837 6,046 143,608 281 215,446 6,326 77,883 143,889 221.772 Unrestricted Funds Restricted Total Funds Funds 2022 Charilable Activity Support costs 68,612 3.472 113,073 280 181,685 3,752 185,437 72.084 113,353 Expenditure on charitable activlties by activity type Activities undertaken directly Support costs Total funds 2023 Total fund 2022 Charitable Activity 215,446 6.326 221,772 185,437 Net expenditure Net expenditure is stated after charging/{creditingl'. 2023 2022 Deprecialion of tangible fixed assels 21.468 17,341 10. Independent examination fees 2023 2022 Fees payable to the independent examiner for: Independent examination of the financial statements 1.020 1,020 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows: 2023 2022 Wages and salaries 93,322 95,351 14
Bready & District Ulster Scots Development Association Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2023 11. Staff costs (contlnued) The average head count of employees during ihe year was 612022: 5). The average number of full-time equivalent employees during the year is analysed as follows.. 2023 No. 2022 No. Number of staff - admin No employee received employee benefits of more than £60.000 during the year12022: Nill. 12. Trustee remuneration and expenses no remuneralion or other benefits from employment with the charity or a related entity were received by the trustees 13. Tangible fixed assets Freehold Fixtures and property fittings Total Cost At 1 April 2022 Additions 555,219 77,545 41,278 118,823 632,764 41,278 At 31 March 2023 555.219 674,042 Depreciation At 1 April 2022 Charge for the year At 31 March 2023 135,348 10,504 28,018 10,964 38,982 163,366 21.468 184,834 145,852 Carrying amount At 31 March 2023 409,367 79,841 489,208 At 31 March 2022 419,871 49,527 469,398 14. Debtors 2023 2022 Trade debtors Other debtors 14,143 73,568 87,711 9,039 32,602 41,641 15
Bready & District Ulster Scots Development Association Company Limited by Guarantee Notes to the Financial Statements (conllnued) Year ended 31 March 2023 15. Credilors: amounts falllng due within one year 2023 2022 Bank loans and overdrafts Trade creditors Accruals and deferred income Social securiiy and other taxes Other creditors 1,081 29,951 1.092 123 15,000 47,247 4.420 14.979 2.106 2,501 24.006 16. Credbtors: amounts falling due after more Ihan one year 2023 2022 Accruals and deferred income 93,182 67.550 17. Deferred income 2023 2022 At 1 April 2022 Amount released to income Amount deferred in year At 31 March 2023 29,694 125.5931 89.081 29,694 (14,980) 52,836 67,550 93.182 18. Government grants The amounts recognised in the financial statements for government grants are as follows: 2023 2022 Recognised in credilors.. Deferred government grants due after more than one year Recognised in income from donations and legacies.. Government grants income 93,182 67,550 10,614 6,989 16
Bready & District Ulster Scots Development Association Company Limited by Guarantee Notes to the Financial Statements (ntInued} Year ended 31 March 2023 19. Analysls of charitable funds Unrestricled funds Al 31 March 202 At 1 April 2022 Income Expenditure General funds 449.919 74.374 {77,883) 446,410 At 31 March 202 At 1 April 2021 Income Expenditure General funds 452,622 69,381 (72,0841 449,919 Reslricted funds At 31 March 202 At 1 April 2022 Income Expenditure Restricted Funds 2,042 138,644 {143,8891 13,2031 At 31 March 202 At 1 April 2021 Income Expenditure Restricted Funds 244 115,151 (113.353) 2.042 17
Bready & District Ulster Scots Development Association Company Limited by Guarantee Management Information Year ended 31 March 2023 The following pages do not form part of the financial statements. 18
Bready & District Ulster Scots Development Association Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2023 2023 2022 Income and endowments Donations and legacies Department for Education Lottery Fund Derry City & Strabane DC Grants Ulster Scots Agency Grants Community Foundation capital grant release 88,500 7,390 51,841 9,250 1,380 10,614 168,975 88,362 10.153 27,411 4.990 6,989 137,905 Charilable activities Performances & Activities Sale of goods/services made or provided by the beneficiaries of the charity Rent receivable 17.390 29,230 10,300 16,353 4,532 12.865 44,043 46.627 Total income 213.018 184.532 Expendilure Expenditure on charitable activities Purchases Wages and salaries Rates and water Light and heat Repairs and maintenance Insurance Legal and professional fees Telephone Other office costs Depreciation Bank charges Printing. postage & stationery Travel costs Direct charitable activity Programme Costs Direct charitable activily Catering 7,972 93,322 158 5,076 32,442 1,678 4,519 1.629 1.220 21.468 587 2.338 3,667 44,876 820 3,619 95,351 159 4,684 4,028 2,201 2,084 908 870 17,341 798 2,628 3,377 46,974 415 221.772 185,437 Tolal expendilure 221,772 185,437 19
Bready & District Ulster Scots Development Association Company Limited by Guarantee Detailed Statement of Financial Activities (contlnued) Year ended 31 March 2023 2023 2022 Net expendlture 18,7541 {9051
Bready & District Ulster Scots Development Association Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 March 2023 2023 2022 Expenditure on charilable activities Charilable Activily Activities undertaken directly Direct charitable activity 1 purchases Direct charitable activity- wageslsalaries Direct charilable activity rates & water Direct charilable activity light & heat Direct charitable aclivity repairs & maintenance Direct charitable activity insurance Direct charitable activity telephone Direct charitable activity depreciation Direct charitable activity- Printing. postage & stationery Direct charilable activity Travel costs Direcl charitable activiiy Programme Costs Direct charitable activity Catering 7,972 93,322 158 5,076 32,442 1.678 1.629 21.468 2,338 3,667 44,876 820 3,619 95,351 159 4,684 4.028 2.201 908 17,341 2,628 3,377 46,974 415 215,446 181,685 Support costs Support charilable activity legal and professional fees Support charitable activity Genaral expenses Support charitable activity Bank charges 4,519 1,220 587 2,084 870 798 6.326 3.752 Expenditure on charitable activities 221,772 185,437 21