Company Reglslratlon Number: N1606060 Charity Number: 102145 Culturlann McAdam O Fiaich IA company limited by guarantÈè, nat having a share capital) Annual Report and Audited Financial Statements for the financial year ended 31 March 2024
Culturlann McAdam O Fiaich IA company limited by guarantee, not having a share capital) TRUSTEES. AND OTHER INFORMATION Trustèes E Ni Churraoin A Nic Gearaill G O Caireaiiain M Nic Fhionnachlaigh M Mhic Aibhistin G Nig Uidhir (Resigned 30 June 2023) p O Tiarnaigh (Resigned 30 June 20231 J Herron {Resigned 1 February 2024) Company Sacretsry Grainne Nl Ghilin Charlty Number In Northern Ireland 102145 Company Registration Number N1608080 Reglstered Offlce and Prlnclpal Address 216 Bothar na bhFal An Cheathru Ghaeltachla Béal Feirste BT12 6AH Audltors Quarter Chartered Accounlanls St Anne's House 15 Church Street Cathedral Quarter Belfast BT11PG Prlnclpal Bankfjrs Bank of Ireland 202 Andersonslown Road Belfast Co, Antrim BT119EB Solicitors Gilrnore Solicitors 202 Andersonslown Road Belfast BT119EB
Culturlann McAdam O Fiaich IA company limited by guarantee, not having a share capital) TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 The trustees presant Ih6ir Truslees, Annual Report, combining the Directors. Report and Truste8s' Report, and the auditèd financial statements for the financial year ended 31 March 2024. Th8 financial statements are preparad in accordance with the Companias Act 2006, FRS 102 "Thg Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial slalem8nls in accordance with the Financial Reporting standard applicable in the UK and Republic of Ireland IFRS 102). The Trustees. Report mntains the information required to be provided in the Trustees. Annual Report under the Statement of Recommended Practice ISORPI guidelines. The trustees of the ¢ompany are also charity trustees for the purpose of charity law and under the company's constitution are known as members of the board of trustees. In this report the trustees of Culturlann McAdam O Fiaich present a summary of ils purpose, governance, activities, achievements and fInans for the fSnan¢ial year 31 March 2024. The company is a registered charity and hence the report and results are presented in a form which complies with Ihe requirements of the Companles Acl 2006 and, althouqh not obliqed to comply with the Statement of Recommended Practice {Charities SORP effeclive January 20151, the organisalion has implemented its recommendations where relevant in these fin8ncial statements. Mission, Objectives and Slralegy Mission Staloment Cutturlann McAdam O Flaich Pfomoles the Irlsh language through the arts and culture, and promotes the arts and culture through the Irish languago, Strategy Strategic aims are the constant development of our tourism and artistic offering, including music, drama, literature, visu81 arts and dance with a focus on our specialist gallery and theatre spaces as well as community involvement in our productions events and The key are follows To provide entertaining and Ihought-provoking arts and cultural events through the medium of Irish for the Irish speaking communSty and others In Greater Belfast and further afleld, partlcularly In the areas of muslc, visual arts, drama and To provide educational opportunities to people in the local area and beyond through our lifelong learning programme for adults and youth education programme and youlh club: To provlde arts actlvllles for chlldren, young people and adults to enable them to learn new skllls, develop thelr exlstlng skills, increase their knowledge of the Irish language and various arts praclices, improve their confidence and enhance To Continue lo work with Oth language and cultural org8nisalions lo provide as many services as possible through the To continue develop our newly purchased building, 2 Fallswater Slreel, into a thriving youth and training hub focusing on arts and educational The Culturlann has always been a pioneering organisation, the first of its kind. and we aim to be at the forefront of the resurgence in Irish speakers in Greater Belfast and further afield, encouraging the use of Irish through the arts. Revlew of Acllvltles, Achlevements and Perforniance The company is established for the advancamenl of aducation and tha promotion of Ihe arts and Irish language culture among Irish speaking people and the general public in Belfast and ils environs in Ireland. and in particular: To develop an awareness and encourage appreciation of Irish culture through Ihe promotion of theatre, drama, poelry, literature, music, visual arts and creative writing
To encourage participation in the arts and Irish cultural activities through the provision of workshops, classes, enlerlainment and other participalive activities To provide office accommodation and other workspaces, facilities and services to encourage the development of the art5 TD maintain and manage a cultural and arls centre for activities promoled by Culturlann hlcAdam O Fiaich and in furtherance the above objectives In order to carry oul these objectives Culturlann McAdam O Fiaich is constantly engaging with the community via our classes, online conlenl, debates, discussion groups and working with young people al our theatre groups and our youth club. Also, Culturlann McAdam O Fiaich organises plays, COnrtS, literary events, dance perfom)ances, youih and family activities and dramas to the avail of the peDple of greater Belfast and the entire country. Despite this being a hugely challenging lime for the arts sector as 8 whole, Culturfann McAd8m O Fiaich has continued to achieve its objectives in full and has in(xeased audien and participation numbers in this period. Our classes are all al capacity and we are delighted to see an increase in those taking up the language. Our events have been well allended and we are delighted with the involvement of our community. especially younger people, in festivals such as Liu Lunasa F l e a d h The benefits that flow from this purpose are the increased awareness of the Irish language and culture and Ihe opportunities to access education relating to Irish language and culture and 10 participate in aclivities through the medium of Irish or that promote Irish. Direct benefits include promotion of and enjoyment of the Irish language and litèrature and arl in Ihe area of benefit. These benefits are evidenced by Ihe increasing number of patrons of our centre and participants in our activities and by feedback from participants al our events. Beneficiaries of our services are Irish speakers and learners and the general public in Ireland. Flnanclal Revlew The trustees have consistently followed appropriate accounting principles with due diligence. The principal Source of funding during the financial year was that of grant funding which accounts for £463.797 of the totsl income of £555,923. Culturlann McAdam O Fiaich is indebted to Ihg continued support of these funding bodies to carry out its objectives and activi118s. The rnajor funders in the 2023124 financial year included Department for Communit188, Arts Councll Nl. Foras na Gaelige and Belfast City Council. Without this funding Cullurlann M¢Adam O Flal¢h would nol be able lo continue the promotion of Irish language and culture through the running of the centre and the events and activities held. Financial Rosulls At 1he end cl the financlal year the company has assets of £896.521 12023 £972,574) and Ilabillties of £74,71612023 £71,321). The nel assets ol the company have decreased by £179,448). Reserves Posltlon and Pollcy Reserves are needed lo bridge the gap between spending and receiving of income, to cover unplanned emergency rCpalry and olhor unforo4>con expcnditure. In the Trusloos view, the rcaerves should provldo th8 charity with adcquate financial slabilily and the means for 11 lo meal Ils charitab18 obiectiV8s for Ihe forese8able future. The unrestricted reserves of Culturlann McAdam O Fiaich as al 31st March 2024 were £104,312. Access to the unrestricted reserves would require the disposal of tangible fixed assets. The charity ha5 endowment reserves totalling £697,651. These were grants provided to purchase the premises, and other assets. ulilised by Culturlann McAdam O Fiaich. These grants specified the buildings should continue to be ulilised by Cullurlann McAdam Fiaich for period of 10 years after the purchase. The charity has restricted reserves totalling £19,842 at 31st March 2024. The Trustees review the amount of reserves that are required lo ensure they are adequate to fulfil the charitys continuing obligations at their regular finance meeting. Principal Risks and Unc8rtaintl8S The organisation is a charitable company limited by guarantee which was incorporated on 7 February 2011. The charity was transfèrred from an vnincorporaléd charity on 1 August 2011. The company was gslsblishod undèr a Mgmorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of
The board of directors meets every six weeks with the directors reviewing a range of business from govemance, organisation objectives, strategic direction. best practice, funding and a range of ongoing issues. The truslees recognise there are financial challenges facing the arts sector, and our organisation, but have taken steps to miligale against difficulties and to deal with cashflow issues in the Culturlann moving forward. Recruitmen and Appointment of Management Committee The organisalion is governed by a board of directors (Irusteesl elected as part of the Annual General Meeting. Responsibility for the recruitment of new trustees rests firmly with the existing Irustees. Culturlann McAdam O Fiaich seek trustees with appropriate ski11s, knowledge or experience which they can bring lo the charity. When preparing to recruit new Trustees, Culturlann McAdam O Fiaich seeks to increase or at least maintain the diversity of ils trustee board. The trustees board uses a vaiiely of methods to recruit new trustees. These include, personal recommendation, word of mouth and advertising to attract a wide range ol applicants. CuKurlann NcAdam O Fiaich is commilled lo continuing ils mission of promoting the Irish language and the arts for the achievement of its objectives. Reference and Admlnlstratlv• detalls See reference and edminislrative details page Key management Of f lee r MrGarry Events Manager.. B Fuscols Nic Colaim Trustegs The trustees who served throughout the financlal year. except as noted. were as follows.. E Nl Churraoin A Nic Gearaill G O Caireaiiain M Nic Fhionnachl8igh M Mhic Aibhislln G Nlg Uldhlr (Reslgned 30 June 20231 p O Tiarnaigh (Resignèd 30 June 2023) J Herron (Resigned 1 February 20241 In accordance with the Articles of Association, the directors retire by rolslion and, being eligible, offer Ihemselves for re-eledion. The secretary who served during the financial year was.. Grainne Ni Ghilin Health and Safety Fire safety risk assessments were carried out and new staff members received fire safely training. Safety requirements were upheld. Compliance with Se¢tor-Wide Legislation and Standards The company engages pro-acb'vely with legislation, standards and codes which are developed lor Ihe sector. Cullurfann McAdam O Fiaich subscribes lo and is compliant with the following= The Companies Act 2006 Th& Charities SORP (FRS 102}
Volunteers CuVrIann McAdam O Fiaich is run on a day to day basis via paid Staff. However, due to the nature of the organisation being established by Irish Language volunteers, the charity relies on unpaid volunteers to help with Ihe smooth running of events via promotion, allendance and hands on help. This culture of volunteering is always encouraged by Culiut1ann McAdam O Fiaich as we view the project as a citizèns, project. We are delighted to provide opportunities for those wilh an interest in the arts and in the Irish language to develop their event a1 project skills. Social Investment Any social investments are made to further the charitys aims and objectives. This is through providing resources lo Irish spaaking entities to help promola Ihe use of the Irish languago, including provision of the premises to certain Irish Speaking businesses which is considered to be ancillary to the main purpose of Cultudann McAdam O Fiaich. Going Concern At the dale of approving the report and accounts we are not aware of any uncertainties aboul the charities ability to continue as a goin9 cOnrn. The Auditors The auditors, Quarter Chartered Accountants have indicated their willingness to continue in offic8 in accordance with the provisions of Section 485 of the Companies Act 2006. Approved by the Board of Trustees on 17 Docfrmbor 2024 and signed on ils behalf by.. $lglreqlE Nl Churraoln E Nl Churraoln Trustee slglreqiA Nlc Gearallt A Nic Gearailt Truslee
Culturlann McAdam O Fiaich IA company limited by guarantee, not having a share capital) STATEMENT OF TRUSTEES, RESPONSIBILITIES for the financial year ended 31 March 2024 The trus16es. who are also diraclors of Cultudann McAdam O Fiaich for the purposas of company law, ar8 responsib16 for preparing the financial statements in accordance with applicable law and regulations. Company law requires the trus1ees as the directors lo prapare financial statements for aach financial year. Undar that law the trustees have elected lo prepare the financial Statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicabl8 lawl including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities), Under company law the truste&s musl not approve thg financial stalgmenls unless they are satisfied that they give a true and fair view of Ihg State of affairs of the company and of the surplus or deficit of the Gompany for that period. In preparing these financial stalemenls, the trustees are required lo.. -ob$erve tho methods and prlnclples the Charlties SORP -make judgemenls and a¢¢ounting eslimales thal are reasonable and prudent., -slate whether the financial statements have been prepared in accordance with applicable accounting standards, identify those standards, and nole the effect and the reasons for any malerial departure from Ihose standards-, and -pr&pare the financial statements on the golng concern basis unless il Is inappropriate to presume that the company will continue in operation. Th8 trustees ar8 responsibl8 for keeplng adequate accounting records that are sufflcl8nt lo show and 8xplain th8 company's transaclions and disclose with reasonable a¢¢ura¢y al any lime Ihe financial position of Ihe ¢ompany and enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for saf8guarding lh8 ass8ts of the company and hence for taking re8sonab18 s18ps for th8 pr8vention ar)d d818clion of fraud and other SrregularitSes. far the trustees are aware; -there is no r818vanl audit information linformalion needed by the company's auditor in connection with preparing th8 auditor's report) of which the company's auditor unaware, and -the trustees have taken all the steps that they ought to have taken as trustees in order to make themselves aware of any relevant audit information and lo establish that the company's auditor is awar8 of that infomiation. Approved by the Board of Trustees on 17 December 2024 and signed on its behalf by: siglreqlE Ni Churraoin E Ni Churraoin Trustee siglreqlA Nic Gearailt A Nl¢ Gearalll Truslee
INDEPENDENT AUDITOR'S REPORT to the Members of Culturlann McAdam O Fiaich IA company Ilmllgd by guaranlee, not havlng a share capltall Report on the audit of the financial statements Opinion We have audited the company financial statements of Culturlann McAdam O Fiaich ('the company'l for the financial year ended 31 March 2024 which comprise the Stalement of Financial Activities, the Summary Income 2nd Expenditure Account, the Balance Sheet and notes to ihe financial statements, including the summary of significant accounting policies set out in note . The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" applying Section 1A of that Standard and Accounting and Reporting by Charities-. Statement of Recommended Practice applicable to charities pieparing their accounts in accordance with FRS 102. In our opinion, whan reporting in accordancè wilh a fair presentation framework tha financial statemanls.. -give a true and fair view of the state of the company's affairs as al 31 March 2024 and of its deficit for the financial -have been properly prepared In accordance wlth United Kingdom Generally Accepted Accounting Pract1. and -have been prepared in accordance wilh the requirements of the Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with International S18ndards Dn Auditing IUKI IISAS (UK)) and applicable law. Our responsibilities under Ihose standards are furiher described in the Audilor's responsibililies for the audit of Ihe financial statements section of our report. We are independent of the ccmpany in accordance with ethical requirements that are relevant to our audil of the financial slalemenls in the UK, including the FRC'S Ethical Standard, and thè Provisions Available for Audits of Small Entities, in the circumstances sel out in Note 4 to the financial slatemenls, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Concluslons relating to golng concern In auditing the financial staternents, we have concluded that the trustees, use of the gaing concem basis of accounting in the preparalion of the financial statomenls is appropriale. Based on the work we have performed, we have not identified any material uncertainties relating to event5 or condition5 that. individually or collectively, may cast significant doubt on the company's ability lo continue as a going concem for a period of al least twelve months from the dale when Ihe financial statements are aulhorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going con¢em are described in the relevant sections of this report. Other Informatlon The other information comprises the information Sncludad In Ihe annual report other th8n tha financial slalamants and our Audilorfs Report thereon. The trustees are responsible for the other information contained within the annual report, Our opinion on the financial slaternenls does not cover Ihe other informalion and, except to the extent olherwise explicitly staled in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other infomiation and, in doing so, consider whether the other information is Materially inconsislent wilh the financial slalemenls or our knowledge obtained in the course of the audit, or otherwise appears lo be materially misstated. If we identify such material Inconsistencies or apparent material misstatements, we are required to delermine whether this gives rise to 8 material misstatemenl in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other inft)rmation, we are required to report Ihal fact. We have nothing lo report in this regard. Oplnlon on other matter prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of Ihe audit: the information given in the Trustee5' Annual Report for the financial year for which the financial statements are
prepared is consistenl with the financial statements- and the Truslaas, Annual Report has bean prapared in accordance with applicable lagal r&quiremants. Matters on which we are required to report by exception In the light of our knowledge and understanding of the company and its environment obtained in Ihe course of the audit, we have nol identified material misstalemenls in the Trustees, Annual Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you in our opinion.. adequate accounting records have not been kept; or the financial statements are not in agreement with the accounting records and returns: or certain disclosures of trustees. remuneralion specified by law are not made., or the trustees were not entitl8d to prepare th8 financial statemenls in accordanc8 With th8 small companies regime and take advantage of the small companie5, exemption in preparing the Trustees, Annual Report. Responsibilities of trustees for the financial stalements As explained more fully in the Slatemenl of Trustees, Responsibilities s81 out on page 8, the trustees are r8sponsible for the preparation of the financlal statemenls and for belng salisfied thal they give a true and fair vlew, and for such internal control as they deleminè is necessary to enable the preparalion of financial slalemènts that are free from malerial misstatement, whether due lo fraud or error. In preparlng the financial slalements, thè trustees are responsible for assessing the company's abillty to contlnu6 as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless managem8nl 8ilh8r in18nds lo liquidate the company or to cease op8rations, or has no r8alistic altemative bul to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are lo obtain reasonable 8ssurance about whether the financial statemen15 8s a whole are free from material misstatement, whether due lo fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a gu8ranlee that an audit conducted in accordance with ISAS (UK) will always delect a material misstatement when it exists. Misstalements can arise from fraud or error and are considered material il, individually 01 in the aggregate, they could reasonably be expecte¢J lo influence the economic decisions of users taken on the basis of these financial statements. Irregularilies, including fraud, are instances of non-compliance with laws and règulations. We design procèdures in line with our responsibilities, outlined above. to deleGI material misstatements in respect ol irregularities, including fraud. The exlent lo which our procedures are capable of d818cling irregularities, including fraud is detsile¢J below.. management Identifying, evaluating and complying with laws and regulations and whether they are aware of any instances of n o n Detecting and responding to risks of fraud and whether thay have knowledga of any actual, suspected of allegad fraud. Discussing among the engagement team as lo how and where fraud might occur in the Financial Slalements including usual journal entires, complex transactions etc. Obtaining an understanding of the legal and regulatory framework the company operales in and focusing on those that have a direct effecl on the financial slatements. Further informalion regarding Ihe scope of our responsibililies as auditor As parl of an audit in accordance wilh ISAS {UK}, we exercise professional judgement and maintain professional scepticism Ihroughoul the audiL We also- Identify and assess the risks of material missl8temgnt ol the , wh8ther due lo fraud or grror, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basi5 for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher Ihan for one resulting from error, as fraud may involve collusion, forgery, intentlonal omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal conlrol relevanl to the audit in order to design audit procedures that are appropriate In Ihe circumstances, bul not for Ihe purpose of expressing an opinion on the effectiveness of the Gompany's Inlernal control. Evaluate the appropriateness of accounting policies used and Ihe reasonableness of accounting estimates and related
disclosures made by trustees. Conclud& on the appropriataness of the truslaes, use of the going concern basis of accounting and, basad on tha audit evidence obtained. whether a material uncertainty exists related to events or conditions that may cast significant doubt on the company's ability lo continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's Report lo the related disclosures in the financial stateTnents or, if such disclosuras are inadequate. 10 modify our opinion. Our conclusions ar& based on the audit avidenc6 obtained up lo the date of our Auditorfs Report. However, future events or conditions may cause the the company to cease to continue as a going concern. Evaluale the overall presentation. structure and content of the financial statements. including the disclosures. and whether the financial slalements represent the underlying transaclions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other malters, the planned scope and timing of the audit and significant audit findings. including any significant deficiencies in intemal control that we identify during our audit. The purpose of our audlt work and to whom we owe our responslbllllles This report is made solely lo the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has be8n undertak8n so that we might slate lo the company's members those matters we are requlred to state to them In an audilols rep)rt and for no other purpose. To the fullest extent permltted by law, we do not accept or assume responsibility lo anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have fomied. Ciaran Mccavana (Senior Statutory Auditor) for and on behalf of QUARTER CHARTERED ACCOUNTANTS Statutory Auditors St Anne's Hous8 15 Church Street Calhedral Quarter Belfast BT11PG 17 Decomb•r 2024
Culturlann McAdam O Fiaich IA company limited by guarantee, not having a share capital) STATEMENT OF FINANCIAL ACTIVITIES for the financial year ended 31 March 2024 Unrestricted Restricled Endowment Total Unrestricted Restricted Endowment Total Funds Funds Funds Funds Funds Funds Funds Funds 2024 2024 2024 2024 2023 2023 2023 2023 Notes Income Donations and legacies Charitable activitiés Grants from governments 5.2 gnd other co-lund8rs 61,240 61,240 24,750 30,886 463,797 494,683 34,139 528,063 56: Tolal income 92,126 463,797 555,923 58,889 528,063 581 Expenditure Charltsble actlvitles 6.1 66,741 522,535 17,970 607,246 66,277 578,193 18,139 Net incomell8xponditur81 bolore oxceptional Items Exceptional items 25,385 (58,738) 117,970 {51,323 17.3881 150.1301 118,1391 (28,125 {28,1251 Net Incomellexpendlture) after exceptlonal items (2,7401 (58,738) 117,970 {79,448} {7,388) (50,130) {18.1391 Transfers bgtwegn funds Net movement in funds for the financial year (2,7401 (58,738) 117,970 {79,448 {7,388) (50,130) (18.1391 Reconciliation of funds- Total funds beginning 18 of the 107,052 78,580 715.621 901,253 114,440 128.710 733.760 976.91 year Tolal funds at
the end of Ihe year 104,312 19,842 697,651 821,805 107,052 78,580 715,621 901,25 The Statement of Financial Actwilies includes all gains and1055es recogni5ed in the financial year. All income 8nd expenditure relate lo continuing activities.
Culturlann McAdam O Fiaich IA company limited by guarantee, not having a share capital) SUMMARY INCOME AND EXPENDITURE ACCOUNT for the financial year ended 31 March 2024 Statement of 2024 2023 Flnanclal Actlvltles Gross Income Unrestricted funds 92,126 463,797 Restricled funds 555,923 586,952 Tolal Income Tolal expenditure 555.923 (607,2461 586,952 {662,6091 151,3231 128,1251 175,6571 Exceptional items Net Incomel(expendlture) 179,4481 (75,6571 The comp8ny has no recognised gains or losses other than the results and cash flows for the financial year. The results for the financial year have been calculaled on Ihe hislorical cost basis.
Culturlann McAdam O Fiaich IA company limited by guarantee, not having a share capital) Company NumbÈr= N1606060 BALANCE SHEET as al 31 March 2024 2024 2023 Notes Fixed Assets Tangible assets 12 865.382 890,875 Current Assets Debtors 13 29,336 1,803 77,296 4,403 Cash al bank and in hand 31,139 81,699 Cr•ditors: Amounts falling duo within ono year 14 161,625) 148.0471 Net Current ILiabiliti88llA580t8 130,486) 33,652 Tolal Assets less Current Liabilities 834,896 924,527 Creditors Amunls falling due after more than one year 15 113,091) 123,274) Tolal Net Assets 821,805 901,253 Funds Endowment funds 697,651 715,621 Income funds: 17 Restricted trust funds General fund lunrestricl8d} 19,842 104,312 78,580 107,052 Tolal funds 18 821,805 901,253 These financial statements have been prepared in accordance with the Special provisions relating to small companies within Part 15 of th8 Companies Act 2006. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" applying Section 1 A of that Standard. Approved by the Board of Trustees and authorlsed for Issue on 17 December 2024 and slgned on Ils behalf by siglreqlE Ni Churraoin
E Ni ChurraDin Truslee siglreqlA Nic Gearailt A Nic Gearaill Trustoe
Culturlann McAdam O Fiaich IA company limited by guarantee. not having a share capital) NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 GENERAL INFORMATION Culturlann McAdam O Fiaich is a company limited by guarantee. The registered office of the company is 216 Bothar na bhFai, An Chealhru Ghaellachta, Béal Feirsle, BT12 6AH which is also the principal place of business of the company The financial slalements have been presented in Pound {£) which is also the functional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Th8 following accounting policies hav8 been applied consistently in dealing with items which are Considered material In relation to the oharftys financSal slalemenls. Basis of proparation The financial statements have been prepared on the going concern basis under thè hislorical cost convention, modifièd lo includ8 certain it8ms at fair valu@. Th8 financial stat8menls have been prepared in accordance with the Statement of Recornmended Practice ISORPI "Accounting and Reporling by Charities preparing their accounts in accordance with the Financial Reporting Standard applic8ble in the UK and Republic of Ireland FRS 102,, applying Section 1A ol that Standard. As permitted by th8 Companies Act 2006. the company has varied th8 slandard formals in thal act for the Slalement of Financial Aclivities and the Balance Sheet. Departures from the standard formats are lo comply with the requirements of the Charities SORP and ar8 in compliance with section 4.T, 10.6 and 1 S.2 of that SORP. Statement of compliance The financial statements of the company for the financi81 year ended 31 March 2022 have been prepared on Ihe golng concern basls and In accordance wlth the statement of Recommended Praclice ISORP} "Accounting and Reporting by Charilies preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102 applying Section 1A of that Standard Fund accounting The following are the categorises of funds maintained: Restricted funds Restricted funds represent income received which can only be used for particular purposes, as specified by the donors. Such purposes are within the overall objectives of the cuinpany. Unrestrlcted funds Unrestricted funds consist of General and Designated funds. General funds represent amounts which are expendable al the discretion of the board, furthera nce of the objectives of the company. Designated funds comprise unrestricted funds that the board has, at its discretion, set aside for particular purposes. These designations have an administrative purpose only, and do not legally restrict the trK)ard's discretion lo apply the fund.
Income Voluntsry income or capital is included in the Statement of Financial Activities when the company is 18gally entitled to it, ils financial value can b& quanlifiecj with reasonable certainty and there is reasonable certainty of ils ultimate receipt. Entitlement to legacies is considered established when the company has been notified of a distribution to be made by the executors. Income received in advance of due performance under a contract is accounted for as deferred income until earned. Grants for activities are recognised as income when the related conditions for legal enlitlemenl have been met. All other income is accounted for on an accruals basis. Tanglble flxed assets and depreciation Tangible fixed assets are slated at cost or at valuation, less accumulated depreaalion. The charge lo depreciation is calculated lo write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows: Land and buildings freehold Flxtures, fSttings and equipment Art Worf< 20A Straight line 250/0 Redudng balance 00 Artwork has not boen daprgclated as trusleas bolievo tha artwork has a high residiual value, and therefore depreciation is not required to be charged in accordance with SORP {FRS 1021. D•blors Debtors are rerognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid nel of any Irdde discounts due. Income recognised by the the company from government agencies and other co-funders, bul not yet received al year end, is included in debtors. Cash at bank and In hand Cash al bank and in hand ¢omprSs8s cash on deposS1 at banks requlring less than three rnonths notice of wilhdraw81. Taxatlon Tho charlty has oblalncd charltablc status trom HM Rovcnuo and Cuslomes and its charity number from HM Revenue and Customs 15 XR29504. Penslons The cc*npany operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. Annual contributions payable lo the coThpany's pension scheme are charged to thè income and expenditure account in the period to which they relate LIABILITY LIMITATION AGREENENT The limitation ol tha firm's liability fDr this engagement, which is capped at five times the amount of professional fees actually paid. is reference in the letter of engagement dated 08 July 2024. This was approved on 08 July 2024. PROVISIONS AVAILABLE FOR AUDITS OF SMALL ENTITIES In common wilh many other charitable companies of our siz8 and nalure, we use our auditors to assist with the preparation of the financial statements.
INCOME DONATIONS AND LEGACIES Unrestricted Restricted 2024 2023 Funds Funds Donations and legacies 61,240 61,240 24,750 5.2 CHARITABLE ACTIVITIES Unrestrlcled Restrlcled 2024 2023 Funds Funds Grants from govemments and other co.funders: Charitable activities 30,886 463,797 494,683 562,202 EXPENDITURE CHARITABLE ACTIVITIES Dlrect other Support Costs 2024 2023 Costs Costs Charitable activities 607,246 607.246 662,609 SUPPORT COSTS Charitabl8 2024 2023 Activities Bank Charge5 Audit Faes Salaries, wages and related costs Legal and other professional fees Advertising & Promolion General Office Project & Events Costs Deprecialion 3,650 8,480 314,338 4.881 8,672 148,357 78.394 40,474 3,650 8,480 314,338 4,881 8.672 148,357 78,394 40,474 5,619 11,535 332,401 3,720 19.630 166,955 79,598 43,151 607,246 607,246 662,609 ANALYSIS OF SUPPORT COSTS 2024 2023 Bank Charges Audit Fees 3,650 8,480 314.338 4,881 8,672 148,357 78,394 40.474 5,619 11,535 332,401 3,720 19,630 166,955 79,598 43,151 Salaries, wages and related CDSts Legal and olher professional fees Adveriising & Promotion General Office Project & Events Costs Deprecialion
607,246 662,609 NET INCOME 2024 2023 Net Income Is stated afler charglngl{credltlng): Depreciation of tangible assets Auditor's remuneration.. 40.474 43,151 audit services 8,480 11,535 INTEREST PAYABLE AND SIMILAR CHARGES 2024 2023 On bank loans and overdrafts 717 964 10. EMPLOYEES AND REMUNERATION Numb8r of employees The average number of persons employed lincluding executive trustees) during the financial year was as follows.. 2024 2023 Number Number Total number of employees 12 14 Tlie staff costs Gomprise.. 2024 2023 Wages and salaries Social security Costs Pension costs 263,910 18,196 32.232 277,046 26,019 29,336 314,338 332,401 11. EMPLOYEE BENEFITS There are no employees who received employee benefits excluding employer pension costs, of more than £60,000 fo r The total employee benefit of key management personnel £117,371 12023.. £119,585). The charity trustees were not paid nor received any other beiiefits for the reporting period {2023." £nil)- 12. TANGIBLE FIXED ASSETS Land and Flxtures, buildings fittings and freehold equipment Art Work Tolal Cost At 1 April 2023 873.198 265,442 31,120 1,169,760
Additions 14,981 14,981 At 31 March 2024 873.198 280,423 31,120 1,184,741 Depreciation At 1 April 2023 Charge for the financial year 90,504 17.464 188,381 23.010 278,885 40,474 At 31 March 2024 107,968 211,391 319,359 Net book value Al 31 March 2024 765.230 69,032 31.120 865.382 At 31 March 2023 782,694 77,061 31.120 890,875 1. Debentur8 dated 22 F8bruary 2012 b8tW88n Culturlann McAdaffl O Fiaich and Department of Social 2. Cullurlann McAdam O Fiaich provid8d a charg8, containing a nogalive pledge, on 9th March 2018 to the Department for Communities over {11 part of lands in Folio AN177031 County Anlrim included within the map attached to a transfer dal&d 9th March 2018 made belween Springfield Charitable Developments Ltd and Culturlann McAdam O Fiaich and 12} the lands in Folio AN183059L County Antrim. 3. Cullurlann McAdam O Fiaich provided a charge, containing a negative pledge, on 9th March 2018 to An Ciste Inffteistiochta Gaellge over the premlses situate at and known as Cultut1ann McAdam O Fiaich, 216 Falls Road and 2 Fallswater Street, Belfast. County Antrim comprisiro.. 111 the part of lands in Folio AN177031 included within the map allaGhed lo a transfer dated 9th March 2018 made between Springfield Charitable Developments Ltd and Culturlann McAdam O Fiaich and 12} the lands in Folio AN183059L County Antrim. 4. Cullurlann McAdam O Fi8ich provided a charge, containing a neg81ive pledge, on 31st March 2021 to the Departmcnl of Communi1es ovcr 'the lands and promises comprisod in folio AN177031 L contains n¢gative pledgc. The land and premises comprised in Folio AN177031 County Antrim being property at 216 Falls Road, 13. DEBTORS 2024 2023 Trade debtors Other debtors 19,645 3,823 41,472 28,125 1,831 5,868 Taxation and social security costs Prepayments and accrued incom 5.868 29.336 77,296 14. CREDITORS 2024 2023 Amounts falling due within one year Bank overdrafts 6,729 10,183 26.263 S.487 3,421 9,542 8,447 9,932 21,685 Bank loan Trade creditors Taxation and social security costs Other creditors 483 Accruals and deferred income 7,500
61,625 48,047 15. CREDITORS Amounts falllrbg due after more than one year 2024 2023 Bank loan 13,091 23,274 Repayable in one year or less, or on demand (Note 141 Repayable beeen one and two years Repayable between two and five years 16,912 10,440 2,651 18,379 10,183 13,091 30,003 41,653 16. PENSION COSTS- DEFINED CONTRIBUTION The company operates 8 defined contribution pension scheme. The assets of the scheme are held separately from those of the company In an Ind8P8ndenlly admlnisler@d fund. Penslon costs amounted to £32,232 12023 £29,336). 17. RESERVES 2024 2023 Al the beginning of the year Oeficil for the financial year 901,253 179,4481 97e,910 {75,657} Al the end of the year 821,805 901,253 18. FUNDS 18.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestrlcted Restrlcled Endowment Total Funds Funds Funds Funds At 1 April 2022 Movement during the financial year 114,440 17,388) 128.710 (50,1301 733,760 {18,139) 976,910 (75,657} At 31 March 2023 10T,052 12.740) T8,580 (58,7381 715,621 {17.970) 901,253 (79.448} Movement during the financial year At 31 March 2024 104,312 19.842 697,651 821,805 18.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance Income Expendilure Transfers Balance 1 April botweon 31 Mar¢h
2023 funds 2024 Endowmenl funds DCAI Capital Funding International Fund for Ireland capital funding DFC Capital Funding An Cisle Infheisllochta Gaeilge Capital Funding 586 264 322 539 242 297 441.631 10,626 431,005 272,865 6,838 266,027 715,621 17,970 697,651 Restricted funds Arts Council Nl Foras na Gaeilge DFC Other restricted funds Belfast City Council 8,200 16,143 184,535 116.363 49,993 33,996 78,910 185,576 132,506 51.1SO 74,393 78,910 7,159 10,159 110,1591 9,002 3,681 54,237 78,580 463,797 522,635 19,842 Unre$tricted funds Unreslricled General 107,052 92,126 94,866 104,312 Totsl funds 901,253 555,923 635,371 821,805 18.3 ANALYSIS OF NET ASSETS BY FUND Fixed Current Currant Long-temi Ilabllltles Total assels assets Ilabllltles charity use EndDwment capital Permanent 697,651 697,651 Restricted INSI funds 7,159 25.513 {12.830 19,842 Unr&strict8d general funds 180,572 {1,1031 {42,066 (13,091) 104,312 865,382 24,410 (54,896 (13,091) 821,805 19. STATUS The company is limited by guarantee not having a sharè capit81. The the members limited Every member of the company undertakes lo contribute to Ihe assets of the company in the event of its being wound up while Ihey are members. or within one year thereafter. for Ihe payment of the debls and liabililies of Ihe company contracted before they ceased to be member5, and the costs. charges and expenses of winding up, and for the adjustment of Ihè righls of the contributors among themselves, such amount as may bè required, not exceeding £ 1.
- POST-BALANCE SHEET EVENTS There have bèen no significant èvents affecting the Charity sincè the yèar-end. This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relatiiig to electronic fomi, authentication and manner of delivery under section 1072 of tlie Coiiipaiiies Act 2006.