Company Reglgtrnllon Number. N1606060 Charlty Numbor: 102145 Culturlann McAdam O Fiaich IA company Ilmh•d by ouaMnts•, noi hovlno è Sharn ¢aplthl) Annual Report and Audlted Flnanclal Ststements for the flnancial year ended 31 March 2023 'JCIRXOAZ* 2011212023 COMPANIES House JNI
392 .
Iarter Chartored Accountants St Annè's HouJ• 15 Church Streot Cathedral Quart•r Belfast BT1 IPG
Culturlann McAdam O Fiaich {A ¢ompany Ilmlted by gy•raTht. not havlng a share capftal) CONTENTS Page TnJstees' and Other Infonnation Trustees. Annual Report Statement of Trustees, Responsibilitie3 Independent Auditorfs Report 9- 11 Statement of Financial Activities 12 Sumary Income and Expenditure Account 13 Balance Sheet 14 Notes lo the Financial Statements 15-21
Culturlann McAdam O Fiaich (A company Ilmlt•d by guar*nt#•. not havlng a sh8re ¢apllall TRUSTEES. AND OTHER INFORMATION Tru8t••s Mr p O Tiamaigh Mr J Herron Ms G Nig Uidhir Ms M Nic Fhionnachtaigh Ms A Nic Gearailt Ms M Mhic Aibhistln Mr G O Caireaiiain E Nl Churraoin Company Seeretary Grainne Nl Ghilln Ch•rlty Numb•r In North•rn Ir•lAnd 102145 Comp•ny R•gl8trallon Numb•r N1606060 R•glst•r¢d offi¢• •nd Piln¢ipal Addre88 216 Bothar na bhFai An Chealhru Ghaeltaclila Béal Feirste 8T12 6AH Audltorn Quarter Chartered Accountant8 St Anne's House 15 Church Street Cathedral Quarter Belfast BT11PG Prlnclpal Bankers Bank ol Ireland 202 Andersonstown Road 8elfa$l Co. Antrim 8T11 gE8 3oll¢ltor6 Gilrno Solidtors 202 Andef80nstown Road Bellast 8T119E8
Cultiirlann McAdam O Fiaich IA company Ilmlt•d by guaTrntse, not h•vlng a $har• capltal TRUSTEES. ANNUAL REPORT lor the financial year erpJed 31 March 2023 The ISt¢e$ present their Twste88' Annual Report. combinlng the Directors. Rewt Trustees. Reprt and th• a311ed financial statem8nts for the financial year ended 31 March 2023. The financia statements afe prepared in accordanee with the C¢)mpanies Act 2CM)6. FRS 102 "The Financial Reporling SlaTrJard appIable in Ihe UK a1 Republic of Ilar. and AcK•)unting and ReportiThJ by Chariti8S'. ststement ol ReCmmended Praclice appllcat4e to Charle$ prepariTrJ their financial statements in accordance with the Financial Reportirrfj Siandard applicable in the UK and RepublK ot IrelaThJ {FRS 102>. The TnBlees' Rèport C4>nt8ins the Inlomati required to be kyovided in the Trustees. Amual Report under the Statement ol Re(xJmmerKled Practice {SORP) guidelines. The Intstees of th8 Crnpany are also charity Irustses for thè wrpose of charity law and uThJer the companys constitution are known as mernbets ol t tsoard ol trnstees. In thi$ report the trustees of Cultiirfann McAdam O Fiaich present a surrrnary of its purpose. governance, activities, aChienents and financeg fty the financlal ye8r 31 March 2023. The LYJmpany is a regisiered charity and hence the report and resul are presented In a forn which complies with the quiremenls ol the Companies Acl 2CIJ6 and, although not oblyd lo comply with the Statement of Recc#mmended Practic£ (ChantS SORP effective January 2015), the orgaThsation has irnplemented its recommendations where relevant in th finanr4al ¥taternents. Ml8s1¢)n. ObJ•etlv•s and Strntegy Ml•8lon Ststem•nt Culluflann MG4dam O Fiaith prornoles tho Ifoh 18nguage tkwgh the arts and ujllure, and promotes the arts and ¢ulluro Ifwough thè Irlgh lan9uage. Strategy Slrale9ic aims relate to development ol the propety 912 Fal]swater Street lor the use of artisti¢ and educational lenanls. and constsnt de¥elokNnent of our tourisrn and artistic offering, iluding music, drama. lileralure. visual arts and dance. R•vl•w Of A¢tlvlll••, A¢hl•v•m•nts and P•rfomiin¢e T Company Is establrshed for the advancemenl ol educat and the promoti¢Jn of the arts and Irish language cullure among Irish speaking people and the general public in Belfast and ils envir$ in Ireland, and In p8rtlcular'. To develop an awareness and encourage appreciaticm of Irish culture through the promotion ol theatre, drama, po8try, literature, music, visual arts and creative wrlllng To enrnurage Part.Path)n in the arts and Irish cultural Kbvitses through the provision of wort($hops, da$ses, entertainment and other parts'cipalive activities To provKle office accommodatlon and other vffjthspaces. la¢ilili•s 8nd ser¥lces to encourag8 tho development ol t arts and Irish culture. To maintain and rnanage a eultural and arts c¢ntre lor 84¥411eS promoted by CultUfl8nn McAdam O Fiaich and in furtlwance of the abovo objgdives In order lo carry out Ihese <4>jeGtivos Cullurlann MGAdam O Fiaich is constantly engagln wilh the community via d•bales. discus0Th groups and working with young peopla. Al80, Culturtann MrAdarn Fiaich organises plays, conc8rts, lrterary events, dance perfomances, youth 8TrJ family al¥ll1e$ and dramas to the avail of the peopl8 01 gffj81 Belfast aTrJ Ihe nty as a whole. Cultiirfam McAdam O Fi•th has conts'wed lo achieve its ot4"ectives in hjll arml has increased audience and partiCiPion nvmteTS In Ihts perioj. The benefits that flow from this purpose are the increa$ed awaffjness of the 1ri8h language and ujllure and the opportunities to access oducalion telatiNJ to Irish language and culture and to participate in activlti85 through Ihe medium of Irish or that promota Irish. Direct bon8fits hi¢lwJe promotion of and enjoyment of the Irish language and literature and art in the area of benefit. Th8S0 benefiis are eNfjdenced by tl increasirKJ number ol patrons of our centre and participants in our adivilies and by fee(Iback from participants at our e¥*nts. 8eneficiaries of (r services are Irish speakers leamers and the g8neral public in Ireland.
Culturlann McAdam O Fiaich (A company Ilmiiod by guarnnt•o. not havlng a sham ¢apiiall TRUSTEES. ANNUAL REPORT for the finanraal year ended 31 March 2023 Flnanclal Rèview Tl trustees have consistenlly follod appropriate acc4unling principles wilh due diligence. The princ¥)al sourrn of fvnding during tho financial year w8S that of 9ranl fvfKling which accounts for £528.063 of Ihe total incc¥ne of £586.952. Cultiirlann McAdam O Fiaich is indebted lo the cOnts'n5 5UPPOrt of these lunding bOdS to carry oul its ¢biectives and actmlies. major lundets in the 2022123 financial year induded Department for Communities. Arts Council Nl, Foras na Gaelige aThJ Belfast City CouncAI. Without thts lunding Cullurlann McAdam O Fiaich wouky not be able to Clin the promolion of Irish languag8 and culture thfough the running ol the centre and Ihe events activities held. Flnanclal R•8ulth At the end of th8 financial year the company has assets of £972.574 (2022 - £1.092,0451 and liabilitses of £71,321 (2022 - £115,135). The net assets of the company have decreased by £(75.657). Rgservgs Posltlon and Pollcy Reserves are needed lo brid9e Ihe gap béNY8en sperIng and recelviro of income, to cover unplanned emergency répairs and other unforeseen expenditure. In the Trustee's view. the reserves should provide the charity with adequate financial stability and the ffans for it lo meet itg charitable oty'ecb'ves fty thè foreseeable fulure. The UnStrle4 reser405 ol Culturlann MG4dam O Fiaich as al 3181 March 2023 were £107,052. Access to the unreslricled re5er+M would roquire lh• disposal of tangible fixed 855&1s. The charity has endowment reser4es totallin9 £715,621. These vRre grants provided to purchase the premises, and other assets, ulilised by Culturlann MG4dam O Fiaich. These grants specified the buildings shId continu8 lo be ulilised by Cultiirlann MG4dam O Fiaich for 8 perij of 10 years after the purchase. Thè charity has rostitted reseryes totalling £78,580 at 31s1 Mar¢h 2023, The Tr1885 revlew the amounl of reserves that are required lo 8n8ur8 they are adequate to hjllll the ch8rlty'$ continuing obligations at their regular financ8 m8eting. Princlpal Rlskg and Uncertalntles The organtsatson is a charitabb c4)mpany lThited by guarantee which w8s incofporated on 7 Febry 2011. The charity was Iranslerred from an unincorpor8led tharity 1 August 2011. The £tnpaThY was estsblished undei Memorandum of Associati which est8blishad the obiects and powers of ts charitsble company and is govemed und8r ils Articles of Association. The boord of difectors meets 8¥ery slx weeks wlih the difèelorn reviewing a ¢ang8 of buslness frorn govemanc4, gani$aiion objectives, Strateg direction, best prgcknc. fvnding and a range ol ongolng Issues. Recruitment and Appointment of Management Commlttee The orgarnsatson is g¢)vemed by a l>oard ol direct$ ltru$tees) elected as part of the Annual General Meeting. Responsibility for the recfuitment of new trusleÈs' rests fimify with the existiThJ tNstees. Culbirtann McAdam O Fiaich seek Irustees wilh 8ppropriale skills. knowledge or experienc which they Lying lo Ihe charity. Vthen prepariNJ to recruit new Tfustees. Cullurlann MG4dam O Fiaich seeks to increase or at least maintain the di¥ersity ol Ils Iwstee board. The trustees board use$ a variety ¢1 melhoas to recruit new trusiees. These include. personal recommendation, word of mouth and adrtising to attfacl a wide range ol sp4tAnts. Cultiirtann McAdarn O Fiai¢h is committed to continuing its mission of promoting the Irish laryuage and the arts for Ihe achievement of its objectives. The key wioritias are as follovts: To provide entertaining and thoah1 provoking arts and cultural events throwh thè medium of Irish lor the Irish speakiTrJ community and othets in Greater Belfast and further afield, parti¢ul2fly in thè areas of muslc, vlsual arts. drama and lileralure: To pravide edUcatiC81 opportunitss to peopl8 in the local area and beyond through our hleloftg loamlng Programme for adults and youth edti¢)n programme: - To provide arts activities for ¢lwldren. young pec* ar#1 adults to enable them to learn new skills. develop their exist9 thills, in¢rease their knowledge of the Irish language a1 various arts praclicas. improve their Confiden and enharre ti1r holisti¢ developmen( - To develop our newly purchased bulding, 2 Fallswater SlreeL into a Ihriving youth and train9 hub focusing on
Culturlann McAdam O Fiaich IA ¢ompany Ilmlt•d by guarnnt••, not havlng a sharn upltall TRUSTEES, ANNUAL REPORT for the financial year ended 31 March 2023 arts and educational opportunitiès. R•feronce and Adffllnlstrallve dèlalls See referonco and adrninislralivè detail$ on p8ge 3, K•y management personnel: Finance Officer. p O Ceallaigh (Resigned) Finance OffiGer. D McGarry {Appointed) Executive Dir8Ctor', G Nl Ghilln Evenls Manag8r'. B Fusco Truste•8 Th• trusle•s who seN8d throughoul the financial year. except as noted, wwe as follows.. Mr p O Tiarnaigh Mr J Herron Mg G Nig Uldhlr Ms M Nic FhlonnachtaWh Ms A Nic Gearailt Ms M Mhic Aibhist5n Mr G O Caire8iiain E Nl Churraoin In accordanc• wilh the Articles of Assoclation, tho directors retlre by lotAan And. beln9 •ligibl•, offer Ihemselvos lor f*4¢110n. The secretary who served during the financial year was: Grainne Nl Ghllln H•4llh and Salety Flrfr safety rfsk assessments were carrfed out and new staff rnembers rec¢ived fire Safety Ir8ining. Safety requirements were upheld. Compllan¢• wllh SoCtor.Wld• L•ghlatl•n And Stsndard• The company enga es pro4ctively wlh le9islalion, slandardB and codes whlch are developed for tho SOCtor. Culturlann McAdarn Fiaich subsrAibes to and 1$ rAJrnpliant wlth the followlng.. The Compani8s Act 2006 The Charities SORP IFRS 102} Volunt•erg Cullurlann M¢Adam O Fiaich 1$ nJn on a day lo day ba$1¥ vla paid staff. However, due 10 Ih• natur• of the organisalion being established by Irish Language volunleerg, the charity ffjlie$ on unpaid volunteers lo help wllh the smooth njnning of events via promots'on. attendan 8nd hands on help. Thls culture of volunteering is always encouraged by Cullurfann McAdam O Fiaich as we view the proleci as a atizens, proje¢t. So¢S•l Inv•stmgnt Any sociAI investments are made to lurther the charity's aims and objectsves. This 1$ through providing re$oureA$ to Irlsh speaklng enlili&s to help promole the use of lh8 Irish languag8, including provi8ion ol the premises lo c•rtain Irish speaking businesses which is considered lo be ancillary to the main purpose of Cullurfann MG4d8m O Fiaich. Golng Conc?rn At the dat8 of approving the report and accounts wo are not aware of any uncertainties about the charittes abilty to continu• as a going conc•m.
Culturlann McAdarn O Fiaich IA Company Ilmltod by guarant, not h•vlng • sh•r• clpltsll TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2023 The Audltorn The 3udiiors, Quarter Chartered Accountants have indicaled their willingness lo contiNe in office in accordance wilh the provisions of Section 485 of the Companies Ad 2006. Approved by thè Bo# of TrustO08 on 7 Docember 2023 and slgnèd on its behalf by: E Nl Churraoin Tru8t•• Ms Nic Gearail Tru$tg0
Culturlann McAdam O Fiaich IA company Ilmltsd by guaran0. not havlng a sharg capltsl) STATEMENT OF TRUSTEES. RESPONSIBILITIES for the fin8ncial year ended 31 March 2023 The truSteÈs, who are also directors of Culturlann MG4dam O Fiaich for the purposes of company law, are résponsible for preparing the financial statements in accordan with applicable law and regulations. Company law requires the trustees as the dirertors to prepar8 financ4al statements for each financial year. Under that law the twstees have elected to prepare the financial slalements in accordance wilh United Kingdom Generally Accepled Accounting prad1 (United Kingdom AGGounling Standards and applicable lawl includin9 FRS 102 "The Financial Reporting Standard appllcable in the UK and Republic ol Ireland" Seciion 1A (Small Enlities>. Under company law the Iruslees musl nol approve Ihg financial slalemenls unless they are satisfied Ihal Ihey give o true and fair vi8w pf the slate ol affairs ol Ihe company and of the surplus or defi1 of Ihe company fgr that period. In preparing Ihege financial statements, the trustees are required to.. selecl suitable accounkn'ng policies and apply them consi51ently.' observe the methods and principles in the Charities SORP make judgements and accounting estirnales that are asonable and prudent., stsle whelher Ihe financi81 st8temonts have en prepared in accordancA wlth applicable 8ccounb.ng standards, idpnlify Ihosp Standards. and note the effect and the reasons for any malerial departure Irom those stsndards. and ppare the financial 51alemenls on the going conrn basi$ unles5 il is inappropriate to presume Ihal the company will cnntinu? in operation. The trusleey are responsible lor keeping 8dequ8te accounting records that are sufficient to sh¢)w and explain the company's transactions and disclo$e with reasonable accuracy al any time the finanaal position ol Ihe company and enable them lo ensure that the financial statements comply wilh Ihe Companies 20C6. They ar& also responsiblo foi safeguarding the assots of tho Company and honce foi tsking reasonable steps for the prevanlion and dolection of fraud and other irre9ularities. In so far as tho Iruslees are aware: there is no rel8V8nl audit infomation linlomialion neoded by the cnmpany's audilor in connection with preparing the auditorfg report) of which the company's auditor ig un8ware. and tho trustees hgve laken all Ihe sl•ps thal Ihoy ou9hl lo have laken as Iruslee5 in order lo make Ihemselvos awar• of any relevant oudit inforrnation and lo ès18bli$h thai the company's auditor 1$ awar8 ol Ihal information. Approved by the Board of Tru8t008 on 7 Decamber 2023 and slgned on Its bohall by: Churraoln Trustèe M8 Nl¢ G•arall Truste•
INDEPENDENT AUDITOR'S REPORT to the Members of Culturlann McAdam O Fiaich IA company limlted by 9uarnnteo. not havlng a ¥harn upllal) Report on Ihg audll ol th? fin4n¢lal 8tstgrngnts Oplnl¢)n We have audited the v)mpany financial statements of Cullurtann MG4dam O Fiaith I'the Cornpan) for the fvancial year ended 31 March 2023 which mplIse the Statement of Financial A¢tTvilEs, the Summary Inccrtne and ExFenditure Awx)unl. th8 Balan¢e Sheet and notes lo the financial slalements, Ind11rj the summary of 5ignificanl accounling policie5 sel out in nole 2. The financial reporting framewoth that has been applied in Ihoir preparation is applicable law and UnRed ngdorn Accountiro Stsndards, including FRS 102 Ihe FInarla1 Reporting Standard applitste in the UK and Republic ol Irelano" applyiThJ Sectic 1A ol that Standard arKI A¢untIng and Reporting by Charits.' Stslemenl of Rec(¥rThended Practi appIable to charities preparing aGGounts n accordan with FRS 102. In ow opini¢)n, vknen reporting in accordance with a lair presentation framewoth the financial statemenls". give a true aThJ lair view of the state of tr cwipany's effairs as at 31 March 2023 and of its deficit fty the finandal year then ended; h8ve been properfy prepared in 8co)rdanc• with Unil•d Kingd Generally A0pIed Accounting PraciKt', and havg bn prepared in KcordarKe with the requ1MentS of the Companies Acl 2LKJ6. Basls fof oplnlon We ccfflducted our audit in accordan viith International Stsndards on Auditing (UK) IISAS (UKII and applicable law. Our reswnsibilili8s under those standards affj further described in the Auditorfs responsibilities lor the audit of thè financial stslements Secti of our report. We are independent of the cc¥Ypany in 8rdanc• with elhlGg1 requirements ihat arè relevant to our audit of the financial statemonls in the UK, IndlIng thè FRC'S Ethical Si8nd8rd. aTrJ the Provisions AYaats lor Audits of Small Entities, ir) Ihe (arcumslances sel out in Nol8 4 to the financial $tatement5. and we have frjfilled (wr other eth81 SpOnsIbl.tieS in acttrdance with these quIrements. We beliavo that the gudit evidence we havp obtsined is suffiaent aThJ appropriate to providè a basis lor our opinion. Con¢luslons rolatlng to golng con¢om In audibn9 the financial st81emenls, w8 have cnnclvded that the trugtees. se ol Ihe going CO basi$ of accounling in Ihe weparatton of the financial statements is appropnale. 8aJ•d ¢)n th• work we hgve perfom8d. we have not klentified any materi81 un(rt8inlles rel81ing to events conditions thal, indivldually or colleclively, may cast significant doubt on the cornpanys ability lo contr.n as a golng cK)ncem ft>r a period of al least ts¥elve months from the date when financlal statements arè authorised lof Issue. Our responslI.a5 and Ihe responsibilities of the trustees wilh resped to going concem are d&seJibed #i the relevant sections of this report. Other Inlormitlon Th8 other infonnallon comprises the infomialion Included In the annual report other than th8 financial statements and our Audit(¢s Rewrt Ihereon. The Iruslees are responsible for tho other infNmation cL)ntained within the annual report. Our opinion on the financial statements does not cover the other infornalion and, extspl to Ihe extent otherwise expltcitly staled in cr reptst we do not express any torni of assurarte CdUS1on thereon. Ow reSpCsibllty is to read the other infomation and, in doin9 $0, rnnsidef whelhÈr the other inlom)ation is materially Inconsistent with the financial stalements (K our krth•Aedge obtained in thé Course ol the audit. or othe1$e appears to be malerialty rnisststed. 11 we identify suth material inconsi$lencies or apparent malerial misstaternenls, we are quired to determine whether this gives rise to 8 material misslatemenl in Ilp financial statements th8mselves. If, based the woth we have performed. we concrle that there is a rnaterial misstatement of this other inlomatb)n. we a fequired to pOrt that fact. Wve have nothin9 to repcrft in thi5 regard. Oplnlon on other matt•f prescrfbed by the Cofflpanles Acl 2006 In our opinion, based on the work un¢Jertaken in Ihe cOue of th8 audiL Ihp infomialion given in the Tw51e8s' Annual Repori foi th? financial year for which the financial sialements are prepared is tt*n$islenl with Ihe finan¢ial stalemenls.. and Twstees, Annual Rq)ort has been wepared in accordancè with applicabl8 legal requirements.
INDEPENDENT AUDITOR'S REPORT to the Members of Culturlann McAdam O Fiaich (A Company Ilmlted by guarante0, not havlng a $haro ¢apli81) Matt•rn on whlch we arn r•qulr•d to r•port by ex¢optlon In the lighl ol Our knowledg& and understanding ol the cnmpany and its environment obtsined in the course of the audiL we have not identifled rnat•rfal mlsslalements in tho Trustees. Annual Rfjport We have nothing to report in fespect of the following matters where the Companles Act 2006 requires us to report to you if, in our opinion: adequate accounting re¢ofds have not been kept: Of the finan¢ial stslements a not in agreernent with the a¢Unting records and retums: or certain disdosures ol trustees, remuneration specified by law aro not made: or th• trustees were nol enlilled lo prepare Ihe financial Statements In accordance wilh lh• small cornpanie$ regime and lak• advantoge of the Small cxjmpanles, exemptlon In preparing the Trusteos. Annual R8POrt. R•sponslbllltl•$ ol truste•s lor the flnanclal 8tatsmfrnts As explained more fvlly in the Statement ol Trustees. Responsibilrties sel out on page 8, the trustees are responsible for the preparatbon of the financial slalements and for being Gatisfied that they give a true and fair view. and for such ntemal control a5 they delerrnine is necessary to enable the preparation of financial slalements that are frae Irom material mi6slalement, whèther due to fraud or error. In preparing tho financial slat8m8nls, the Iruslees ar• responsible for assessing ihe ¢4mpany'$ ablllty lo conllnuo as a golng concem, disdosing, 9$ applicabl8, mattars related to going concem and uslng thè going conc4m basis ol accounting unless management either intends lo liquidate the tomp8ny or lo cease operations, or has no realistic altemative but lo do so. Audltof8 re8ponJlbllltlo8 lor th• audlt of th• finon¢lal $tstemonis Our objecliv89 are lo obl8in feasonable assurance about whether Ihe financ421 slalements as a whole are free from material misslalement, whethgr due to fraud or error, and to issue an Audilors Report that Includos our oplnion. Reasonable assuianca is a high level ot a55urance, bul18 nol a guarantee that an audit ¢onducled In accordance with ISA$ (UK) will ahvays detect a m8lerial mi8St8lemen¢ when 11 oxisls. M155tatementS Ggn arise from fraud or error and aré considered material il. Individually or In the 8ggregalè. they eauld reasonably be expocled lo influence tho economic declsions of ugerg taken on the basis of thesè financial slalements. Irre9ularilies. including fraud, 8re instances of non4omplSanrR with laws and wulations. We design procedures in line with our ffjsponsibililies. outlined 8bov8. lo detect matenal rnisstatements in r85ped of irregularities, including fraud Th• exlenl lo whlch our Procedures are capable of d•l•Gting irregularilios. including fraud is delailed below. Enquiring of management. Identifying. evaluolino and ¢omplying wSth 18ws and regulations and whether Ih•y are awar• ol any in8laneAs of non-complianc4. Oelecbng and responding lo risks of fraud and whether they ha¥* kn¢)wledga of any actual, suspected of alleged fraud. Discussing among th& engagement team 8$ lo how and whore fraud might occur in the Financial Ststements Including usual journal frntires, complex Ifansactions elc. Obtaining an understanding ol the legal and regulatory tram•work tho eArnpany opeiates In and foeusirs on those th81 have a diréct etlect Dn thè flnanclal statamenls. 10
INDEPENDENT AUDITOR'S REPORT to the Members of Culturlann McAdam O Fiaich IA ¢ompany Ilmltod by guarantee. not havlng a sharo ¢apltal Further Infonnotlon regardlng the scopo of our re8pon81bi111108 08 audltor A8 Part of an audlt in accofdance with ISA$ IUK), we exercise prolessional Sudgement and malntaln professional sceplicism throughout the audit. We also: Identify and assess the risks of material misstatement of the . whether due lo fraud or error, design and perfom audit pro¢edufes responsive to those ri$k$, and obtain audit evidence ihat 1$ $ufficienl and appropriale to provide a b8si$ for our opinion. The risk of not del8¢ting a material misstatement $u7t1ng from fraud Is higher than for one resulting Ir¢%n arror, as fraud may Involve colluglon, forgery. intentional omissions, mlweprèsenlalions, or the override of internal control. Obtain an understanding ol internal a)ntrol relevant to ihe audit in order to design audit procedures Ihat are appropriate in the orcumslances. but not for the purpose ol expressing an opinion on the effectiveness of the company's inlomal control. Evaluate the appropriateness of accounting policies used and the reason8bleneg¥ of accounting estimates and related disclosures made by trustees. Conclude on the appropriateness of ihe tru5tees' use ol the going concem basis of a¢xounllng and, based on the audit evidence obtained, whether a material uncertainty exists related to events or condili¢ns thal may cast $1gnificant doubt on the Gornpany's ability lo continue as a going concem. If we condude that a material uncenainty exists. we are required 10 drow atteniion in our Audilorf$ Report to Ihe related di$do$uS In the rinancial slalements or. if sv¢h disdosures are inadequate, to modify our opinivn. Our conclusions a based on the audit eviden¢x obtained up lo Ihe dale of our Audilorfs Report. However, future events ¢f wndilion5 may Cause Ihe Ihe company to cease to continue as a going concem. Evaluate the overall presenlalion, structure and fA)ntent of the finandal statements. including the disclosures, arKI whether the finonciol slalom•nl$ repregenl Ihe undèrlying transaetlons and •venl$ In a mannèr that o¢hiev•$ fair pras8nlalion. We communicate with Ihosè chargèd with governance fegarding. among other matters. the planned srxlpe and timing of the audbt And sSgnific8nl audit firKling$, induding Any significant dafio•ncl•s In internal control that w• idanlify durtng our audll, Th• purpos• of our iudlt work and to whom we our r•sponglbllltles This report is madè sol•ly to Ihg companys members, as a body, in accordan with Chapter 3 of Part 16 of the Compani88 Act 2006. Our audit work has been undértaken 80 that we might stale to the company'8 members those m8tt•rs w• are requir8d lo ¥tate lo them Sn an audilorfs report and for no other pu¥Se. To the lullesl extent peitted bylaw, V do not 8pt or assume ffjsponslbility lo anyone other than the company and the CAJmpany's members as body, for our audit work. for thi$ report. or fof the opinions we have fomied. Claran Mccavana Isenlor Slatutory Audltor> for and on b•half ol QUARTER CHARTERED ACCOUNTANTS Stalulory Audltors St Anne's House 1 S Church Streel Cathedral Quarter Belfast BTI 1PG 7 Dgcember 2023 11
Culturlonn M¢Adam O Flalch IA¢•MpTry Ilrnbt•d bygu•rinl••, not hlwlrty 4 hir• CtIll STATEMENT OF FINANCIAL ACTIVITIES lor tha flnaneL91 y•r •nd•d 31 2023 ilnr•trl¢tsd li••trl¢t•d Ehdo7n•nt Fund• FunJ8 202J Tolal Llnrnslrfcl•d A•s¢t• End8 Futtdi Fundy Funds Fund5 2023 2W22 2022 2022 Total Fund8 2022 2ts23 2023 Not•• InGom• 24,7ao 24,7 22,8eo 22.880 Ch•rlt•W• •dItIo5 . ¢3rnnts Itorn go¥•rnm•nl8 •nd oth•rtyfund•rs J4.lJ• 621.mj 2,102 24,119 497,909 522,028 In¢om• .•89 520,063 SM.982 46,979 497,809 544.888 Exp•ndhur• al.277 571.193 1&139 2.109 48.437 455,203 18.791 522,431 M•1 IrMm•ll•xp•ndhur•l 17,JMI 150,1301 118,1391 175,6S71 11,4581 42,708 118,7911 22.457 Trnn$f•rn b•••0 fvndi N•l rnov•m•nt Infund• lor ¢h• fln•n¢l•l y• 17,3811 ISO,1301 IIfy.IJg1 17S,1571 1.4581 42.706 118.7911 22,457 TrA81 lund• beglnnhg of ihè wr 114.440 128,710 73&710 115.898 86,OQ4 7S2,SSI 954,453 Tthil lund tth• •nd •1 Ih•y•i 107.0S2 78,810 715,621 9012SJ 114,440 128.710 733,760 916.910 Th• 81•t¢m•M ol Fln•ncW Klud•• dl 98411 ond f•cwls•d kn th• fih•n¢i41 y••r. JI i• and •xp•ndllur• rale lOclInuIng ac111$. Th•not•ityip4•1 151021 Icthi p•rf fiAX 12
Culturlann McAdam O Fiaich (A ¢ompany Ilmlt•d by 9uaront•o, not havkng a gharo ¢aphall SUMMARY INCOME AND EXPENDITURE ACCOUNT I the finanoal year ended 31 March 2023 Statement of Flnanclal Acllvltl•s 2023 2022 Gross income Unrestricied lurthys Restricted lunds 68,889 528,063 586.952 S44.888 Tolal Incom• Tothi expenditure 586.952 1662,609) 544,888 (522,431) Net Incornelloxpendllurg) (75,657) 22.457 Th& company has no recognised gains or losses other than the results and cash flows for the finanual year. The results for the finarKial year ha¥p been calGulaled on th8 historical cost basis. The noles on p89es 15 to 21 part ol Ihe Twlanoal Slatents 13
Culturlann McAdam O Fiaich IA company Ilrnlted by guarantQo. ngt havlng a sharo ¢•pllall Company Numb9r: N1606060 BALANCE SHEET as at 31 March 2023 2023 2022 Notes Fbxed A880ts Tangible 8sselg 13 890,875 909,497 Curront Assets Deblors Cash al bank and in hand 14 77,296 4.403 26.422 156,126 81,699 182,548 Cf•ditor8: Amounts lalllng duo wlthln ono y•ar 16 148.047 (77.300) Not Current Assets 33,652 105.248 Totsl A850ts 1088 Curv•nt Llabllllles 924.527 1.014.745 CredltorB Amounls falling due after more than on8 year 16 123.274) {33,135) Grants 18 (4.700) Total Not A889ts 901.263 976,910 Funds Endovmiènt fund8 Income lunds: Restiicted lrnsl lunds General fund {unrestrictedl 715,621 733.760 19 78,580 107,052 128.710 114,440 Total lund8 20 901,263 976,910 These financial statemenls have been prepared in acujrdance wilh the special provisions relaling to small companles within Part 15 of the Companies Act 21))6. The fin8nci81 statements havè beèn prepared in accordanc8 with Ih? provisians applicable lo companies subjacl to the small companies. regime and in 8ccxJrdanc4 with FRS 102 "The Financial Reporting Slandard applicable in the UK and Republic ol Ireland" applySn9 Section 1A ol that Slandard. Approvod by tho Board of Tru8loes and aulhorls•d for186ue on 7 December 2023 and slgnod on Its b•half by E Nl Churraoln T818¢ Nic Gearail Truatse The notes on pages 15 10 21 lorm part of the financial ¥tstemenl¥ 14
Culturlann McAdam O Fiaich IA comp•rry lknlt•d ty guarant••. not havlng a shaio caplta NOTES TO THE FINANCIAL STATEMENTS for the fiThan¢ial year ended 31 2023 GENERAL INFORIAATION Culiurfann Mdam O Fiaich is a o)mpany limited by guarantèe. The registered office of the company Is 216 Bothar na bhFal. An Cheathru Ghaeltschta. Béal Feitsle. 8T12 6AH 1¢h is also the principal Place of business of the cOranY The financial slalernents have been presenied in PourKI (£) whteh is also the lunctional currew of tho company. SulARy OF 81GNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied conslslently in dealing wllh items wtiich ar¢ cnsIdered malefi81 in felgtic+n lo the chadty's financial slalernenls. Basls of preparatlon The financial slal8m8nts have been preparé(J on the going COnM ba$ts under the historkal cost convention. m¢)dified to include c£rtain itéms at fair value. The financial statements have been prepared in afrant0 with the Stalémanl of Recommended Practi? ISORP) "AcrKJunling and Reporting by Charities preparmig thelr accounts in ac¢or¢8neA with ihe Finonclal ReWvi9 Standard applicable in UK and Republlc ol Iieland FRS 102" apptylng Soction 1A ol that Slondard. As perffl8d by the Companies Act 20CK8, the company has varbed the standard lomats in Ihal act lor the Statement ol Financial Actiwlie8 and the Balance Sheel. Departuies from the standard fomiats are lo compty with the ffjquireffnlg of the Charities SORP and are in compliancé Vbryth section 4.7. 10.6 and 15.2 of that SORP. Sttem•nt ol ¢ompllan¢• The fina101 statements of the company for Ihe financlal year end•d 31 March 2022 have been prepared on the going concem basi5 and In 8ccordanc• with tfv Slalemenl of ReComMeIed Proctice ISORP) "Acc4yJnliThJ and Rewrting by Charities prepafiThJ their acmunts in accordance with the Finandal Reportin9 Standard applie4ble in the UK and Republlc of Ireland FRS 102" applyirKJ Section IA of that Stsndard. Fund a¢countlng follo9 are the categorisos of tundg rnaintained.. RMtrkt•d fund8 Reslricted fvnds represent in¢ome received which c4n only be used lor particular purposes. as Specified by th? donrys. SuGh purposes are wiihln the ovetall ot4ectlves ol the company. Unrgstrlet•d fundg Unrestricted frjnds consist ol General and Designated funds. - General fijnds represent amounts which are expendable At the thscretion ol the board, in furtheranc• ol the oty'eclives of Ihe company. - 19n8t80 funds cAYnKYise unrestrfcted fvnds that the board has. al ils dlscrellon. set astde lor partkular purposes. These desn8115 have an adrninislralive purpose onty, 8nd do not leg8Ny restn'cl the boards dBcrelion lo apply Ihe furKI. In¢om• Voluntary in(xJme Of caytsl is included in tIE St8iement of Finandal Acbvities when thè company is legally enlilled to it, its financial value can bg quantified wth reasonable rtaInty and Ihere is aSOnable certainty of its ulb'mate receipt. Entiuernent lo1898Cl8s Is c<nsidered established when the company has been notified ol a distribution lo be made by the executors. Inwme rl¥ed in advance of due perfornance under a conlracl Is a¢Unted tor as deferred income untA eamed. Grants lor actNlties are recognised 89 income vthen the related conditions for legal enllllement have been rnet. All other incoffle is accounted for on an acuu81s bayis. Tongible fixed assftts and dopreclatlon Tangible fixed assets are staled at cosl or at ¥abJation, less accumulated depre¢i•tFon. The charge to depreciation is calculated to Y•rite off the oiiginal Cost or Valuati of langible fixed assets. less Ihelr eslimated resKlual value, oT thebr fjxpeed usetul h'ves as follows.. Land and buildings freehold Fixtures, fittings and equipment Art Work 2% Strawjht lin• 25% Reduciffj balance 0% Arfyvork has not been (preaaled as Iruslees believe the al01( has a high reshjiual vahje, and therefo depreciation is not required to be charged in ac£rKdance V•ryth SORP IFRS 102). 15
Cultiirlann McAdam O Fiaich (A company Ilmll•d by guarant••. not havlng a $har• ¢apltsll NOTES TO THE FINANCIAL STATEMENTS onlinued for th? financial year ended 31 March 2023 Debtors Oeblors are rwnised at the Settrnent amount due after any dis(Unt offereL1. Prepayments are valued al the amount pPaId net of any trle dI$ts due. Inco re¢ognlsed by the the cnmpany frtyn govemment agerties and other ¢4>fiJnders. but yet received at year end, Is included in debtors. Cash al bank and In hand Cash at bank ar#J in hand MprisO$ c•$h on d•po$li at b•nk$ fOquirlrwJ less than three months noti ol wilhdr8wal. Taxalion The charty has obtained charilable status from HM Revènue and Customes and lis ch8rity wmber from HM Revenue 8ThJ Customs IS XR29504. P¢n$lon8 The MPanY operates A defined contnbutlon penslon scheme for •mployaes The assets of the scheme are held uparately Irwi those of the company. Annual ¢ontribulions payai4e to the rA•mpany'$ pensiM scheme are charged to income and expendilurè account in the period to which they relate UA81UTY LIMITATION AGREEMENT The limilalion of Ihe fim's 118bility lor thi8 eroagemenl, whl¢h is capd al five limes the amount ol professional 19•5 actually pald. Is refefence Ir the letter of engagement doted 27 July 2023. Thls was approved on 27 July 2023. PROVISIONS AVAILABLE FOR AUDITS OF SMALL ENTITIES In ¢omrnon with many other ¢harilabl8 companle$ of Our size and nature. WO u$• our audilorn to ASSi81 with tho preparation of the financhal statements. INCOME DONATION8 AND LEGAcie8 Unf•8tr1Gt•d Ro8triet•d Fund8 Fuftd• 2023 2022 Donation5 and legacies 24,750 24,760 22,860 CHARITABLE ACTNITIE8 Unr•gtrlcted Restrlcted Funds Fund8 2023 2022 Grants from governments and oth•r ¢o.funders: Chantable athivilie$ 34,139 628,063 S62,202 522,028 EXPENDITURÉ CHARITABLE ACTIVITIES Dlrecl Costs Other Costs Support Costs 2023 2022 Charilable activities 662,609 662,609 522.431 16
Culturlann McAdam O Fiaich {A company Ilmlt•d by guaTaYlt•è, not havlng a sh•rt ¢apltal) NOTES TO THE FINANCIAL STATEMENTS continued for the finan¢ial year en*Jed 31 March 2023 SUPPORT COSTS Charilab A¢tl¥ltl•i 2023 2022 Bank Charges Independent Examination S8laries. wages and relaled costs Legal and other professional fees Advertising & Promotion General Office Project & Evenls Costs Deprecialion 5.619 11,535 332,401 3,720 19.630 166,955 79.598 43,151 5,619 11,635 332.401 3,720 19,630 166.955 79,598 43.151 4,051 11.651 264.005 7.795 28,448 92,185 70,778 43,538 662,609 662,609 522,431 ANALYSIS OF SUPPORT COSTS 2023 2022 Bank Charges Independent Examination Salanes, wage$ and related w$ts Legal and other professional fees Advertising & Promotlon General Offir Project S Evenls Costs Depreciation 5,619 11,535 332.401 3,720 19,630 166,96S 79.598 43,161 4,051 11,651 264,OOS 7,795 28,448 92,165 70.778 43,538 662,609 522,431 NET INCOMe 2023 2022 Net In¢om?1g stslod ofter charglngllcredltlng)". Depredalion ol tangible assets Audilorfs remunemlion. audit services Grants received 43,151 43,538 11,535 11.651 {312> INVESTMENT AND OTHER INCOME 2023 2022 Revenue grants received 312 10. INTEREST PA YABLE AND SIMILAR CHARGES 2023 2022 On bank loans and overdrafts 984 1.190 17
Culturlann McAdam O Fiaich (A ¢ompany Ilmltgd by guarant¢•. not havlng a sham ¢apltall NOTES TO THE FINANCIAL STATEMENTS continued fcK the financial year ended 31 March 2023 11. EMPLOYEES AND REMUNERA TION Nurnber ol ¢MOYee$ The average number of persons employed (indJIng executive trustees) during the financial year was as follows: 2023 Numb 2022 Number Total numbèr of employees 14 15 The staff rmts rA)mprise: 2023 2022 W8gos and salariès Social security o)sts Pension costs 277,¢46 26.Q19 29,338 223,389 15,505 25.131 332,401 284,005 12. EMPLOYEE BENEFITS There aro no 6mployeès who r•cdved empwe b•nefits èxcluding •mpioyer pension Costs. ol more than £60.000 lor the Portrj porkd. The lolal employee benefit of key management per50nnel £119,58512022. £77,097). The charity Ifu$lee$ were nol paid nor rprAived any other benefits for the reporting period (2022". £nil). 13. TANGIBLE FIXED ASSETS Land and Flxture8, buildlng8 flffings and Iréthold 6qulpmonl Art Work Totsl Co•t AI 1 W'I 2022 Additions 873.198 240.913 24.529 31.120 1,145,231 24,529 Al 31 March 2023 873,198 265,442 31.120 1.169,760 Dopr•ciati4)n At 1 Aprll 2022 Chargo for the finandal yeaf 73,040 17.464 162.694 25,687 235,734 43,151 Al 31 March 2023 188.381 278,885 N•t book valu• Al 31 March 2023 782,694 77,061 31,120 890.875 Al 31 M8r¢h 2022 800.158 78.219 31,120 909,497 Charges l. Debenture dated 22 February 2012 betrrteen Culturfann MeAdam O Flaich arKI Department of Social Development. 2. Culturtann MG4dam O Fiaich provided a charge. contalnln9 a rngati pledge, on 9th March 2018 to the Departmenl for Communities over (11 part of lands in Folio AN177031 County Antrim induded within the map att8ctrd to a transfer dated 9th March 2018 made beeen Springfield Charitsble Developments Ltd 8nd Culiurlann McAdam O Fiatth and (2> the lands in Fdio AN183059L County Antrim. 3. Culturlann McAdam O Fiaich provided a chaTge. contaMiirKJ a negative pledgo, on 9th March 2018 to An Cisle Infheistiochta Gaely over the premises siluale at and known as Culluflann McAdam O FiaKh, 216 18
Cultiirlann McAdam O Fiaich IA comp•ny Ilrnltod by not havlng • sb8r• capltall NOTES TO THE FINANCIAL STATEMENTS conlin fgT the financial year ended 31 March 2023 Falls Road and 2 Fallswalef Street, Bellast, County Antsim comprBin9: 11) tho part of lands In Folio AN177031 Included within ihe map attached lo a transfer daled 91h March 2018 made betAeen SKYingfield Charitable Developments Ltd arKF Culturlann McAdam O Fiaich and (2) the lands in Folio AN183059L County Anlrim. 4. Cullurfann MGAdam O Fiaich proNided a charge, conta*)ing a negative pledge. on 31st Mafch 2021 to the Department ol Communiles over 'the lands ar•J premises comprised in folio AN177031L contsins negallve pledg8.' The land and premlses comprlsed in Folio AN177031 County Anlrim being prcperty al 216 Falls Road. 14. DEBTORS 2023 2022 Trade debtors Other debtors Taxation and social socurty costs Prnpayment8 aThJ accrued Incnme 41,472 28,126 1,831 6,868 19,958 5,294 972 77,296 26.422 1S. CREOITORS Amounts fallin9 du• wlthln on? y•ar 2023 2022 Bank overdrafts Bank loan Trade creditors Other creditors Acuuals and doferred inccme 8,447 9,932 21,685 483 7,51)0 9,758 20,003 37.5Q) 10,039 48,047 77.3CH) 16. CREOITORS Amounts falling due after mor• than one year 2023 2022 Bank IoAn 23,274 33,135 Rgp8yablg in one year or less, or on dernand (Note 15) Repayable bets¥een one and trNO year5 Repayable between Iwo and fwe years 18,379 10,183 13,091 9,758 9,424 23,711 41,653 42.893 17. PENSION COSTS - DEFINED CONTRIBUTION company opwates a defined ¢4)nlribution pens scheme. The assets ol the stheme are treld separately from those of the company in an independenty adrninistered bJrKI. Pensicm costs aMoted to £29,336 (2022 - £25,131). 19
Culturlann McAdam O Fiaich (A ¢ompany Ilmlted by guarnnts¢, not havlng a shar• capltsll NOTES TO THE FINANCIAL STATEMENTS continued lor the financial year ended 31 Marth 2023 GRANTS RECEIVABLE 2023 2022 At 1 April 2022 Increase in financial year 99,146 94.445 4,700 At 31 March 2023 99,145 99,145 Amortljatlon At 1 April 2022 AmortS$ed in fin¢181 year (94,445) 14,700) {79.9751 {14,470) At 31 March 2023 (99.145) (94.4451 Not book valuo Al 31 March 2023 4,700 Al 1 Aprtl 2022 4,700 14,470 19. RESERVES 2023 2022 Al thè beglnnlng of tha year IDeficil}ISufplus for the financlal yeai 976,910 {70,657) 954.453 22,457 At tho end ot tho year 901,253 976,910 20. FUNDS 20.1 RECONCILIATION OF MOVEMENT IN FUNDS Unr••trfcted Rejtrleted endowmont Funds Fund• Fund• Totsl Fund• At 1 April 2021 Movement during the financial year 11 S,898 {1,458) 86,¢yJ4 42.706 752,551 118,791) 954,4S3 22,457 At 31 March 2022 Movement during the financial year 114.440 {7,388) 128,710 (50,130) 733,760 (18.1391 976,910 (75,6571 Al 31 March 2023 107,062 78,580 715,621 901,263 20
Culturlann McAdam O Fiaich {A company Ilmltod by guar. noi havlng a shar• c•p5t•l) NOTES TO THE FINANCIAL STATEMENTS conlinued for the financial year ended 31 March 2023 20.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance Income Exp•ndltur• Tran9fors bètwe•n funds Balancè 31 March 2023 2022 Endovlmenl funds DCAI Caplal Fundin9 Intemational Fd for Irelathl caiytsl funding DFC Capit81 Funding An Ciste Inffteistlothts G8eilge Capital Funding 938 3S2 323 586 539 452,257 279.703 10.626 6,83e 441.631 272.a65 733.760 18.139 715.621 Restrlcted funds Arts Council Nl Foras na Gaellge DFC Olhpr reslrtl8d lunds Belfasl Clty Councll 9,613 1,750 12,145 105,202 19S.S60 161.193 59,555 59.301 52.454 196,973 146.800 71.700 110.266 52.454 8.200 16.143 54,237 128.710 528.063 578.193 78,580 Unvestri¢led funds Unfestricted General 114.440 58,889 66.277 107,052 Totsl fvnd8 976,910 S86,9S2 662.609 901,253 20.3 ANALYSIS OF NET ASSETS BY FUND Flx•d a880ts - ¢harity u Curront a880ts Current Lonp-tsrni Ilabllltles Ilabllltlos Total Endothffnent eapilal Pemianenl 715.621 715,621 R•$tri¢t¢d trust fvrKI$ 78,580 78,$80 Unrastricted g8neral funds 175.254 25.303 170.231) 123,274) 107,052 890,875 103,883 170,231) 123,274) 901.253 21. STATUS The company is Ilmilad ty guarantee not haviNJ a share capital. The liability of the members is limited. Every member of the c4)mpany undertakes to conlrl)uie lo the assets of the company in tl* event of its being wourwj up while they are members. or witlin one year thereafter, for Ihe paymènt of the debts and liabilitS of company ¢tracted before they ceased to be members. and the Sts. ¢harges and expenses of winding up. and for the adjustrywil of rights of th6 tontribuiors amng Ihemselves, such amount as may be required. not exceeding £ 1. 22. POST.BALANce sHeET EVENTS There have been no signifKanl events affecting the Charity since the yearaend. 21