Coinpany registration number: N1052281 Charity Tegistration number.. 102149 Muintir na Mointeach Ltd (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 30 November 2022 J A Mc Clements Accountant
Muintir na Mointeach Ltd Contents Strategic Report Trustees, Report 2to6 Independent Examiner's Report Statement of Financial Aclivities Balance Sheet Statemeni of Cash Flows Notes to the Financial Stateinents 11 to20
Muintir na Mointeaeh Ltd Strategic Report for the Year Ended 30 November 2022 The trustees, who are directors for the purposes of compaiiy law, present their strategic report for the year ended 30 November 2022, in Compliance with s414C of tlie Coinpanies Act 2006. The straiegic report was approved by the trustees of the charity on 28 Augusi 2024 and signed on its behalf by: Mr John Francis Corr Chaini)an and tNstee Page I
Muintir na Mointeach Ltd Trustees, Report The Iruslees, who are directors for the purposes of company law, presenl the annual report together with tlie financial statements and audilors, report of the charitable company for the year ended 30 Noveinber 2022. Objectives and activities Objecl.s and alms Muiiitir na Mointeach is a community based group which works from the Washingbay Healthy living Coinniunity Cenlre based in lh¢ Washingbay are<1 of Co Tyron¢. The group provides and rnanages this facility ror the delivery of educational activilies, Arts, culture, social aclivity, healih and wellbeing, enviroinenlal iinproveinents and leisure and recreational aclivilieswhich il also organizes. The group provides opportunities through Iraining to develop the capacity and skills of the meinbers of the area and in particular those deemed to be froiii social and econoinically disadvantaged coininunities of Washingbay and ihe surrounding area. Activities and classes include Art, storytelling and Inu5ic sessions, children's Irish danciiig , liealih iiifomialion sessions, farining inforn)alion and talks, cultural and language classes. vintage rallies, historical and reminiscence, yoga, k¢ep fit, bowls, martial arts and Gaelic games. The centre is also used for rainily occassions lo include anniversity partiesldinners. birthday celcbrations. The &yroup also provide for walking, cycling and boating) safety sessions. Muinlir iia Moinleacli has a strong enviroiner,tal friendly ethos, il dernonstales renewable energy efficiences and develops and advances enviroinenlal and regeneration projecis in ihe area along the SW shores of Lough Neagh, 11)e Washingbay Wetlands park and the Dungyannon School lands. Tl)e group promotes cominunily developineiit approaches to local issues and aims to increase the participation of as many local people and visitors in comiiiulllty activity. Muintir na Moinieach will also proinole such oil)er chaiiable purposes as may from tim¢ to tiine to be detemiined. Muinlir na Moinieach is established to promote Ihe benefit of the inliabitanls of Washingbay area and its neighbourhood togjetlier defiiied as the Muintir area wilhoul distinciion of sex. sexual orientation, race or of. political, religious or other opii)ions by associating logyeiher the said inhabilanls and the local authorilies,voluntary and other organisations in a common effort to advance education and io provide facilities in the interests of social welfare for recreation and leisure time occupation with the object of improving the conditions of life of the said inl)abitanls.' To establish or secure the establishment of a Coininunity Cenlre and to maintain and manage the same, whether alone or in cooperation with any local authority or other person or body in fvtherance of these objects.. To develop the capacity ai)d skills of Ihe Ineinbers of ihe scoially and econoinically disadvantaged Comtnunity of Washingbay and the surrounding area in such a way thal they are better able to identify aiid help meel their needs and lo participate more ful ly in local society.. To promote such other chatritable purposes as may from time lo time be deiermined. Page 2
Muintir na Mointeaeh Ltd Trustees, Report Public benefit Muintir Na Mointeach 15 the local coinmunity organisalion local¢d in the Washingbay Area South West of Lough Neagh. We are managed by a volunlary board of Directors. The benefits flowing from our purposes are that people from the coinmunity recieve ongoing acces.s to educational actlvlty, capacity building, health promotion and aivareness, enviromenlal awareness and incrcased social interaction in their own local rural area through a comjnunity facility which ensures greater participation in positive coii)Inunity activity. This means that individuals and siiiall rural commuiiity groups are Inore effective and better able lo provide activities for all of ihe community. The group provides the necessary opportunilies to learn new skills and obtain new experiences through its coinmunity projects ainied al a wide range of local people who can gain benefit froin activity we deliver related to coinjnunity development. capacity building, healthlwellbeii)g and reg7eiieralioii issues. This leads to improving in competencies, intormal education, skill sets, in healll) aiid wellbeinbF and in ¥eral living condilioiis. Individuals and giroups improve their coinmuniiy developineiit praclice and civic leadership roles by havi1)8 access lo the Lommunily centre and its activities and local people are able lo provide greater voluntary time COT)tributions which provides an effective and a much improved local coii)muniiy with a greater sense of belonging. The direct benefit of promotion of sustainable development wiihin Ihis rural community will lead lo inore appropriate developnient iii this rural area which perserves and protects ihe enviroinent whilst achieving suslainable economic growth and regeneraiion.These beiiefils will be evidenced by feedback from member groups on their ivork wliich will enhance Ihe local lai)dscape and heritage ivhilst meetin&1 the challenges of cliinale ai)d econoniic change. We don't believ¢ Ihal any harni will arise from this purpose. The PLtbli¢ benefi15 can be Ineasured by tlie nuinber of projects and Il)e number of people altei)din& the aclivities scheduled as well as the nui))ber ol. organisalions utilizing the building. The development and SUSlainiii&) of positive community development aclivily and the engageinenl of the rural Loinmunity in both indoor and outdoor projects are important coinmuniiy benefit measures. Our activities are also monitored and Ineasured regularly by funders such as DARD and thc local council. There is iio hann flowing froill our aciivilies and no private bcnefit olher than the iiicrease in knowledge, skills and underslandin&F Ot individuals which Inay be traiisterable 10 other situations but which are incidental and necessary because of the need tor local individuals to build their skills and knowledge to ensure that the community group better meets the needs of the community. The trusiees confinn that they l)ave coinplied with tlie requirements of the chariti¢s act (Noihern Ireland) 2008 and of the charities acl (Nonhern Ireland) 2013 of ihe to have due regard to the public benefit guidance publislied by Ihe Charity CoinInission for Nortl)ern Irelaiid. Page 3
Muintir na Mointeach Ltd Trustees, Report Referenee and Administrative Details Charity Registraiion Number.. Company Registration Nuinber,. 102149 N1052281 The charity is incorporated in Northern Ireland. Washingbay Wetlands 15 Ferry Road Coalisland Co Tyrone BT714QT Registered Office.. Principal Officc-. Washingbay Weilands 15 Ferry Road Coalisland Co Tyron. BI'714QT Independent Examiner: J A Mc Clements Accouiitant Trustees and Ol£erS The trustees and ol¢erS serving during the year and since the year end were as tollows: Trustees.. Mr John Francis Corr Mr Brian Quinn Mr Kevin Quinn Ms Mary Brigid McAliskey Mr Henry Martin Caihaoir Corr Chairman.. Mr John Francis Corr Secretary: Mr Brian Quinn Strueture? governance and managemenl Nalure ofgoverning di)cumeiil Memoarundum and Articles of Association Financial inslruments Objeckives andpoliL'ies The charity's activities expose it to a nuinber of financial risks including credit risk, cash flow risk and liquidity risk. The use of financial derivatives is governed by the charity's poli¢ie5 approved by the board of trustees, which provide written principles on the use of financial derivatives to manage these risks. The charity does not use derivative financial instrnents for speculative PUTposes. Page 4
Muintir na Mointeach Ltd Trustees, Report Cashflow risk The charity's activities expose it primarily to the financial risks of changes in foreign currency exchange rates and interest rales. The charity uses foreign exchange fonvard contracts and interest rale swap coniracls io hed&7e these exposures. Interest bearing assets and liabilities are held at fixed rate to ensure certainty of cash flows. Credll rlsk The charily's principal fiiiancial assets are bank balances and cash, trade and other receivables, and investments. The cliarily'5 credit risk is primarily attributable to its trade receivables. The amounts presented in the balance slieel are net of allowances for doubiful receivables. An allowance for iinpairment is m(Ide where il)ere is an identified loss event which. based on previous exp¢rience, is evidence of a reduction in Ihe recoverability of the cash flows. The cr¢dil risk on liquid funds and derivative financial instruments 15 limited because the counlerparties are banks with high credit-ralingys assigned by iniemational credit-raling ageiicics. The charity has no signiticanl concenlraiion of credit risk. with exposure spread over a large number of counterparties and customers. Llquldity rlsk n order to Inaiiilain liquidity lo ensure Ihat sufficient funds are available for ongoing operations and future developinents, the charity uses a illixlure of loiigi.tenn and short_lerm debi fii)ance. Further details regjarding liquidity risk can b¢ found in Il)e Siatemenl ot. accounting policies in the financial slateit)ents. Statement of trustees, responsibilities The trustees (who are a150 tlie directors of Muintir na Moinieach Ltd for the purpose5 of company law) are responsible tor preparing the trustees, report and Ihe financial statements in accordance with applicable law and Uniled Kin&>doin Accouiiliiig Slaiidards (lJniled Kingydoin Generally Accepted Accountiiig Practice), ii)cluding FRS 102 "The financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial stateinenls for each financial year. Under company law the trusiees Inust not approve the fiiiancial slatements unless they are satisfied thal they give a true and fair view of the state of affairs of Ihe charitable company and of the incoming resources and application of resources, incliiding ils incoine and expendillire, of the charitable Company for Il)at period. In preparing these financial staleinents, Ihe trustees are required to.. select suitable accounting policies and apply them consistently; observe the methods and principles in ihe Charities SORP. make judgemenls and estiinates that are reasonable and prudent. state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on the going concern basis unless At is inappropriate to presume that the charitable company will conlinue in business. The trustees are responsible for keeping proper accountin8 records that can disclose with reasonable accuracy at any liine the financial position of ihe charitable company and enable Ihem to ensure that the financial statements comply with ihe Companies Act 2006and Charilies Act (Northern Ireland) 2008. They are also responsible for safeguarding ihe assets of the charitable company and hence for taking reasonable steps for ihe prevention and detection of fraud and other irregularities. Page 5
Muintir na Mointeach Ltd Trustees, Report The trustees are respoiisible for the mainienance and integrity of the corporate and financial infonnation included on the charilable company's website. Legislation governing the preparation and dissemination of fiiiancial statements may differ from legislation in oiher jurisdictions. Disclosure of information to auditor Eacli trustee has taken steps that Ihcy oughl to have taken as a trustee in order to Inake thein5elves aware of any relevant audit infonnation aiid lo establish that the charity's audIr is aware of ihal infomiation. The trustees confim thai ihere 15 no relevant inforination that they know of and of which they kilow the auditor is unaware. The annual report was approved by ihe trustees of the charit), on 28 August 2024 and signed on its behalf by: Mr John Francis Corr Chairiiiai) aiid Iruslee Page 6
Muintir na Mointeach Ltd Independent Examiner's Report to the trustees of Muintir na Mointeach Ltd ('the Company,) report to the charity truste¢s on my examination of the accounts of the Company for the year ended 30 November 2022. Responsibilities and basis of report As the charity's trusl¢es of the Coinpany (and also ils directors for Ihe purposes of company law) you are responsible for the preparation of the accounts in accordance with the requiremenls of the Charities Act (Northern Ireland) 2008 ('Ihe 2008 Act, ) and the Companies Act 2006 ('the ?006 Act,). You are satisfied that the accounls of the Coimpany are not required by charity or company law lo b¢ audited and have chosen instead to have an independent exainination. Having satisfied myself that the accounts of the Company are nol required to be audited under Part 16 of the 2006 Aci and are elibJible for independent ex<iniill4ltion, I report iii respect of my exaIiiination of your charity'5 accounts as Larried out under Section 65 of the 2008 Act and section 145 of the Charilies Acl 2011 ('Ihe 2011 Aci'}. In carrying out rny exaininaiion I have followed the Direclions b)iven by the Charity Coinmission for Northern Ireland under section 65(9){b) of the 2008 act and the Directions biiven by Ihe Charity Comlnission under section 145(5)(b) of tlie 201 I Aci. An independent examination does not involve &Jathering all the evidence that would be required in an audit and consequently does not cover all the maiters tlial an auditor considers in &yivin&J their opinioii on the accounts. The planning and conduci of an audit goes beyoiid Il)e limited assurance that an independent exainination can provide. Consequently l express no opinion as lo whether the accoui)ts present a 'true and tair. view aiid my report is liiniled to those specific matters sei out it) thc indepci)deni examiner's slalement. Independent examiner's statement I have conipleted my examin<ltion. I confirm that no matters have coine to Iny attention in connection with the examination giving me cause to believe: accounlingi records were not kept in respect of Muiniir na Mointeach Ltd as required by section 386 of tlie 2006 Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other Ihan any requireinenl that Ihe accounts give a 'true and fair view. which is not a matter ronsidered as part of an independent exainination; or 4. the accounts liave not bcen prepared in accordance with the Ineihods and principles of ihe Staleinenl of Recommended Practice for accounting and reporting by charities [applicable lo charities preparing Iheir accounts in accordai)ce with the Financial Reporting Siandard applicable in the UK and Republic of Ireland {FRS 102)]. I have no concerns and have come across no other matters in connectton with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounis to be reached. Tony Mc Clements Accountant FIPA 28 August 2024 Page 7
Muintir na Mointeach Ltd Statement of Financial Activities for the Year Ended 30 November 2022 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2022 Note Ineome 8nd Endowments from: Other trading aciiviiies Other income 12,973 Total incoine 24,088 24,088 Expenditure on: Raising tunds Other expenditure (7.473) (20,671) (7.473) (20,671) Total expenditure (28,144) (28,144) Net expenditure (4,056) (4,056) Net IT)ovement in funds (4,056) (4.056) Re¢oneili&tion of funds Total funds brought fonvard Total funds carried forward 58,559 58,559 16 54,503 Unrestrieted funds 54,503 Total 2021 Note Income and Endowments from.. Donations and legacies Other trading activities Other income 250 9,549 15,335 250 9,549 15,335 Total income 25,134 25,134 Expenditure on: Raising funds Other expenditure (6,353) (14,460) (6,353) (14,460 Toial expenditure Net income (20,813) (20,813 4,321 4,321 Net movement in funds 4,321 4.321 Reconciliation of funds Total funds brought forward 54,238 54,238 Total funds carried forward 16 58,559 58,559 All of the charity's activities derive from continuing operations during the above two periods. The fvnds breakdOm for 2021 is shown in note 16. The notes on pages I I to 20 fomi an integral part of these financial statements. Page 8
Muintir na Mointeach Ltd (Registration number: N1052281) Balance Sheet as at 30 November 2022 2022 2021 Note Fixed assels Tangible assets 138,781 145,690 Current assets Debtors Cash at bank and in hand 12 13 5,958 16,954 2.865 11,129 22,912 13.994 Creditors: Amounls falling due within one year Net Current a55ets 14 12.015) (3,705) 10,897 10,289 Total assels less current liabilities 149,678 155,979 Creditors: Amounts falling due after more than one year Nel assets (95,175) (97,420) 54,503 58,559 Funds of the charity: Unrestrieled income (unds Unrestricted funds 54,503 58,559 Total funds 16 54.503 58,559 For the financial year ending 30 Noveniber 20?2 the charily was entitled to exemplion from audit under section 477 of the Conipaiiies Act 2006 relaliiig lo siiiall companies. Directors, responsibilities.. The members have not required the charity to obtain an audit of its accounts for the year in question in accordance with section 476; and The directors acknowledge their responsibilities for complying with the requirements of Ihe Act wilh respect lo accounting records 8nd ihe preparation of accounts. The flnancial statements on pages 8 to 20 were approved by the trustees, and authorised for issue on 28 August 2024 and signed on their behalf by: Mr John Franci5 Corr Chaim)an and trustee The notes on pages I I to 20 forni an integral part of these financial statemenls. Page 9
Muintir na Mointeach Ltd Statement of Cash Flows for the Year Ended 30 November 2022 2022 2021 Note Cash flows from operaling activities Net cash (expendiiure)lincome Adjustments to cash flows from non-cash items Deprecialion (4,056) 4,321 20,089 14,460 16,033 18,781 Working capital adjustments (Increase)/decrease in debiors ncrease/(decrease) in creditors D¢crease in deferred incoine 12 14 (3,093) 8,310 (2 ?45) 866 (95) (6,598) Nei cash flows fvom operating activilies Cash flows from invesling activities Purchase of tangible fixed assets Net increasel(decrease) in cash and cash equivalents Cash and cash equivalenls al l DeceTnber Cash and cash equivalents at 30 Noveinber 19,005 12,954 (13,180) (21,145) 5,825 (8,191) 11,129 19,320 16.954 1,129 All of the cash flows are derived from continuing operations during tlie above two periods. The notes on page5 1 I to 20 fomi an integral part of these fmancial statements. Page 10
Muintir na Mointeach Ltd Note5 to the Financial Statements for the Year Ended 30 November 2022 Charity Status The charity is limiled by guaraniee, incorporated in Northern Ireland, and Consequently does not have share capital. Each of the truslees is liable to contribute an amount nol exceeding £ I towards the assets of the charity in the event of liquidation. The address of its registered office is; Washingbay Wetlands 15 Fery Road Coalisland Co Tyrone BT714QT The principal place of business is.. Washingbay Wellands 15 Feny Road Coalisland Co Tyrone BT714QI' Tliese financial statements were auihorised for issue by the trustees on 28 August 2024. 2 Accounting policies Summary of signific8nl aeeounting policles And key accountlng estimates Tlie principal accounling pulicies applied iii tl)e preparalioii of these Iinancial statements are sel out below. These policies have been consistently applied 10 all the years presented, unless otherwise stated. Statement of complillnce The financial stateinenis have been prepared in accordance with Accounting and Reporting by Charities.. Slalement of Recommended Practice (applicable to charities preparing their accounts in accordance witli the Financial Reportingy Stai)dard applicable in tlie UK ai)d Republic of Ireland (FRS 102)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparation Muintir na Mointeach Ltd Iheels the definition of a public beiiefil enlity under FRS 102. Assets and liabililies are initially recognised at historical cost or transaction value ui)less otherwise stated in Ihe relevant accouniing policy notes. Going concern The trustees Consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the canying value of assets held by the charity. Income and endowments All income is recognis¢d once the charity hos entitleTnenl to the incorne, it is probable that the income will be received and the amount of the incorne receivable can be measured reliably. Page 11
MuiDtir na Mointeach Ltd Notes to the Financial Statements for the Year Ended 30 November 2022 Expenditure All expendiluTe is recognised once there is a legal or construLlive obligation to that expenditure, it is probable seiileinenl is required and Ihe ainounl can be measured reliably. All costs are allocated to the applicable expenditure heading that aggJregate similar costs to that calegFOry. Where costs cannot be directly allributed l(} particular headings tl)ey have been allocated on a basis consisieiil iviih the use of. resources, with central staff cosls allocaied on the basis of lime spent, and depreciation cliar&Fes allocaled on the portion of the asset's use. Other sUPPOrt costs are allocaied based on the spread ol. slaff costs. Rai5ingfuiid5 These are costs iiicurred in attracting voluntary income, the managemeni of investments and those incurred in Irading aclivilie5 Ihal raise funds. Taxation The charity is considered to pass the lesls set out in Paragraph I Schedule 6 of the Fiiiance Act 2010 and therefore it meets tlie definition of a charitable compaiiy for UK corporalion lax purposes. Accordingly, the chariiy is polenlially exeinpt from taxalion in respect of income or capital gains received within catebyories covered by Cliapier 3 Part I l of the Corporation Tax Aci ?010 or Section 256 of the Taxation of Chargeable Gains Act 1992. lo the exlent that such inconie or gains are applied exclusively to charitable purposes. Tangible fixed assets Individual fixed assels Cosling £0.00 or more are initially recorded at cost, less any subsequent accumulated deprecialion and subsequent accumulated iinpairmeni losses. Depreciation and amortisation Deprecialion is provided on tangible fixed assets so as to write off the cost or valuaiion, less any estimated residual value, over their expected useful economic life as follows.. Asset class Freehold Property Fixtures & Fillings Depreeiation method and rate 40/0 Straigl)i Line 20 % Straight Line Tr*de debtors Trade debtors are amounts due from customers for merchandise 501d or services perfomed in the ordinary course of business. Trade debtors are recogynised initially at ihe transaction price. They are subsequently Ineasured ai amortised cost using the effeclive inierest method, less provision for impairnient. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able io collect all amounts due according to the original ternls of the receivables. Cash alld cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other shorl-tenn highly liquid investments that are readily convertible to a known amouiit of cash and are subject lo an insignificant risk of chaT]ge in value. Page 12
Muintir na Mointeach Ltd Notes to the Financial Statements for the Year Ended 30 November 2022 Trade Creditors Trade creditors are obligations lo pay for goods or services ihat have been acquired in Ihe ordinari, course of business from suppliers. Account5 payable are classified as Lurreni liabilitie5 if the charity does Tiot have an unconditional riglit, at the end of Ihe reporting period, lo defer settlement of Ilie creditor for at least twelve months after the reporting date. If there is an unconditional righi to defer settlement for al least twelve months after the reporting dat¢, they are presented as non-currenl liabilities. Trade creditors are recognised initially at the transaction price and subsequently measured al amortised cost using the effective interest melhod. Borrowings Interest-bearing borrowii)gs are initially recordcd at fair value, nel of transaction costs. Interest-beiiring borrowingis are subsequently carried ai amoriised cosl, with the difference between the proceeds, net of Iransaction cosls, and Ihe amount due on redemption bein&7 recognised as a charge lo the Sialeinenl of Financial Activities over Ihe period of the relevanl borrowing. nteresl expense is recognised on the basis of the effective interesl method and is included in interesl payable aiid siinilar charges. Borrowing>s are clas%ified as current liabililies unles5 the Lliarily has an unconditional right lo defer setllemeiit of the liability for at leasl Iwelve moi)Ihs after ihe reportiiiuy dale. Foreign exchange Transactions in loreign currencies are recorded al the rate of exchang?e at the date of the trailsaction. Moneiary asse15 and liabilities denoininated in foreign currencies ai the balance sheet date are reported at Ilie rates of exchange prevailing at that date. The results of overseas operalions are translated ai the averag7e rates of exchansie during the period and their balance sheets at the rates rulin&T al the balance sheet dale. Excl)aiige differences arising 01) trslatIOn of the opening net assets and results of overseas operations are reported in other comprehensive income and accuinulaled in equily (attribuied io non-conlrolling inleresls as appropriate). Other excliange differences are recognised in the Statement of Financial Activities in the period in which they arise except for.. l ) exchange differences on transactions entered into to hedge certain foreign currency risks (see abov¢); 2) exchange differences arising on gains or losses on non-monetary iteins which are recogini5ed in other comprehensive incoine,. and 3) in the case of the consolidated financial staleinenls, exchan&ie differences on monetary items receivable from or payable lo a foreign operalion for which settlement is neither planned nor likely to occur (therefore forn)ing part of the net investment in ihe foreign operation), which are recognised in other comprehensive income and reported under equity. Fund structure Unrestricted income funds are general ndS that are available for use al the trustees discretion in furtherance of the objectives of the charity. Page 13
Muintir na Mointeach Ltd Notes to the Financial Statements for the Year Ended 30 November 2022 Financial instruments Classlflcailon Financial assets and fTnancial liabilities are re¢ogi)ised when the charity becomes a party to the contractual provision5 of the inslrujnenl. Financial liabilili¢s and equity instruments are classified according to the substance of the contractual arrangeinenis entered into. An equity instruinenl is any conlracl that evidences a residual inlerest in the assets of tl)e charity after deducting all of its liabilities. Recognlrlon oiid mea.¥uremenl All financial assets and liabilities are initially Ineasured al transaction price (including transaciion costs), except for tl)osc financial assets classilied as at fair value Ihroub,h profil or loss, which are inilially measured al fair value {which is norinally the transaction price excluding transaction costs). unless the an'angeineni c()nstitutes a finaiicing transaLlion. If an aThangement conslilules a finanLing transaction, the financial asset or financial liability is Inea8Lired al the present value of the future paymei)Is discounted at a inarket rale of interest for a siIiiilar debi instruinent. FiT)anci81 assels and liabilities are only offset in the slalenienl of financial posilion when, and only when there exists a legyally enforceable right lo sel off the recognised ai)iouiils and the charity inlends eiiher to settle on a net basis, or lo realise the £tsset and settle the liabilily siinulianeously. Financial a55els are dcrecognised wl)en and only when a) the conlraclual rights to Ihe casl) tlows froin the financial assel expire or are sellled, b) the charity transfers lo anoiher party subsianlially all of Ilie risks and rewards of ownersl)ip of the fiiiaiicial asset, or c) the charily. despite having retained some, bul iiol all, significant risks and rewards of ownersliip, has transferred control ot. the a5sel to another party. Financial liabililies are derecognised only when the obligation specified in the contract is discharged, cancelled or expires. Page 14
Muintir na Mointeach Ltd Notes to the Financial Statements for the Year Ended 30 November 2022 Debr inslrumeAIs Debi instruments which meet the following conditions are subsequently measured at amortised cost using the etyective inleresi method: (a) The contractual return to the holder is (i) a fixed amount; (li) a positive fixed rate or a positive variable rate. or (iii) a combinalioii of a positive or a ne8alive fixed rate and a positive variable rate, (b) The contract may provide lor repayinents of the principal or the retun) lo the holder (but not both) to be liiiked to a singlc relevant observable index of general price inflation of the currency in which the debi instruinent is denoininaled, provided such links are not leveraged. (c) Tl)e conlracl Inay provide for a deienninable variation of the return to the holder during the life of the instruinent, provided Ihal li) tlie new raie satisfie% coiidilion (a) and the variation is iiol coniinglenl on future events othcr than ( l ) a cl)ange of a conlraclual variable rate; (2) lo protect the holder against credit deterioralioii of the issuer. (3) changes in levies applied by a central bank or arising froin chanLyes in relevani iaxalion or law,. or (li) the new Tale is a market rale ot interest and satisfies condition (a). (d} There is no conlraclual provision that could, by its tenns, result in the holder losing the principal amount or any interesl atiributable to the current period or prior periods. (e) Contractual provisions thai pennit the issuer lo pi'epay a debt instruinent or perinit the liolder lo pul il back lo the issuer before maturily are nol conlin¥l oli futurc events, other than lo protect the liolder agaiiist the credit deterioration of the issuer or a chanLye in coi)Irol of the issuer, or to protect the l)older or issuer agaiiisl chaiibies in levies applied by a central bank or arising froin clianges in relevani taxation or law. (fj Contractual provisions may pern)il the extension of Ihe terin of ihe debi instrument, provided that tlie return to the holder and any other contractual provisions applicable during ihe extended term salisfy tlie condilioi)s or paragraphs (a) to (c). Debt instruments that are classified as payable or receivable within one year on initial recognition and iyhich meet ihe above conditions are measured al the undiscounted amount of the cash or other coiisideralioii expected to be paid or received, nel of impairnient. With the exception of 501ne hedgingy instruments, other debi instruinents not nieeting Ihese condilions are measured al fair value throuL,h profil or loss. Commitments to make and receive loans which meet the conditions mentioned above ar¢ measured at cost (which may be nil) less iinpairn)ent. Inveslmenls Investments in non-convertible preference shares and non-puttable ordinary or preference share5 (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through profit or loss. Where fair value cannot be measur¢d reliably, investments are measured al cost less iinpainncnt. Investments in subsidiaries and associates are Ineasured at cost less impairnient. FOT investrnents in subsidiaries acquired for consideration including the issue of shares qualifying for merger reltef, cost is measured by reference to the nominal value of Ihe shares issued plus fair value of olher consideration. Any premium is ignored. Page 15
Muintir na Mointeaeh Ltd Notes to the Financial Statements for the Year Ended 30 November 2022 Derivativefinanclal inslrumenl.T The charity uses derivative financial instruments to reduce exposure lo foreign exchange risk and interest rate movements. Th¢ charity does not hold or issue derivative finaiicial inslrumei)Is for speciilaiive puiposes. Derivatives are initially recogynised al fair value at the date a derivative contract is entered into and are subsequently remeasured lo Iheir fair value ai eacli reporting date. The resuliing gain or loss is recognised in slateinenl of fiT]ancial aclivities imniediaiely unless th¢ deriv¢ltive is designated and efteclive as a l?edging ii)strumenl, iii which eveni ihe timing of the recognition in statement of financial activities depends on the natur¢ of the hedge relalionship. Folr value pneasuremenl The besl evidence of fair value 15 a quoted price for an identical asset in an active market. When quoted prices are unavailable, the price of a recent transaction for an identical assel provides evidence of fair value as loiig as there has noi been a significai)t change in econoniic circuinstances or a significant lapse of liine since the transaction took place. If the Inarket is nol active and recent transactions of an identical agset on their own are not a gTood esliinaic of fair vallie, the fair value is estimated by using a valuation lechniqiie. 3 Income from donations and legacies Unrestricted funds Genergl Total funds Total for 2022 Total for 2021 250 250 4 Income from other trading aetivities Unrestricted funds General Total funds Property rental income other income from other trading activities Tot81 for 2022 2,803 5,313 2,803 5,313 8,116 8,116 Total for 2021 9,549 9,549 5 Other income Unrestricted funds General Total funds Totsl for 2021 3,180 3,180 Page 16
MuiDtir na Mointeaeh Ltd Notes to the Financial Statements for the Year Ended 30 November 2022 6 Expenditure on raising funds a) Cosls of trading Activities Unreslrtcted funds General Total funds Note Events and coiiferences Property renlal income costs Other direct costs of activities for generaiing funds Tot#1 for 2022 25 7.237 48 25 7.237 48 7,310 7,310 Total for 2021 6,171 6,171 Total costs 7 Other expenditure Unrestricted runds General Total funds Note Depreciation, amortisaiion and other similar costs Other resource5 expended Tolal for 2022 20,089 582 20,089 582 20,671 20,671 Total for 2021 14,460 14.460 Page 17
Muintir na Mointeach Ltd Notes to the Financial Statements for the Year Ended 30 November 2022 8 Net incomingloutgoing resources Net {outgoing)/incoming resources for the year include: 2Q22 9 Truslees remuneration and expenses 10 Taxation The charily is a registered cl)arily and is therefore exempt from taxation. I l Tangible fixed assets Land #nd buildings Furniture and equipment Total Cost At l December 2021 Additions 253,567 1,976 185,522 11,204 439,089 13,180 At 30 November 2022 255,543 196,726 452,269 Depreciution Ai i De¢einber 2021 ChargFe for the year At 30 November 2022 133.654 8,586 159,745 11,503 293,399 20.089 142,240 171.248 313,488 Net book value At 30 November 2022 113,303 25,478 138.781 At 30 November 2021 119,913 25,777 145,690 12 Debtors 2022 2021 Trade debtors Prepayments 1,563 4,395 2,865 5,958 2,865 13 Cash and cash equivalents 2022 2021 Cash at bank 16,954 11,129 Page 18
Muintir na Mointeach Ltd Notes to the Financial Statements for the Year Ended 30 November 2022 14 Creditors: amounls falling due Ivithin one year 2022 2021 Trade Lr¢ditors Accruals 2,115 9,900 1,205 2,500 12.015 3,705 15 Creditors: amounts falling due after one year 2022 2021 Deferred income 95,175 97,420 16 Funds Balance at I December 2021 Balance al 30 November 2022 Inconiing resources Resources expended Unrestricted funds General 58,559 54,503 B8l#nce at I December 2020 Balance at 30 November 2021 ncoming resources Resources expended Unrestricted funds General 54,238 58,559 17 Analysis of net funds A130 November 2022 At l December 2021 Fingneing cash flows Cash at bank and in hand 11,129 5,825 16,954 Net debt 11,129 5.825 16,954 At30 November 2021 At l December 2020 Financlng cash flows Cash at bank and in hand 19.320 (8,191) (8,191) 11,129 Nel debt 19.320 11,129 Page 19
Muintir na Mointeach Ltd Notes to the Financial Statements for the Year Ended 30 November 2022 18 Related party Iransactions Page 20
Muintir na Mointeaeh Ltd Statement of Financial Activities by fund for the Year Ended 30 November 2022 Unrestricted Funds Total Total Unrestricted Unrestricted Funds Funds 2022 2021 Income and Endoivmenls from: Donations and legacies Oiher trading aclivllies Oiher income 250 9,549 15,335 12,973 Total incoine 24,088 25,134 Expendilure on.. Raising fuiids Other expenditure Total expenditure Nei (expenditure)/income Nel movement in fijnds Reeonciliation of funds (7,473) (20,671) (6,353) (14,460) 28,144) (20,813) (4.056) 4,321 (4,056) 4.321 Total funds brought forward Toial funds carried fonvard 58,559 54,238 54,503 58,559 Thi5 page does not fomi part of the statutory financial statements. Page21
Muintir na Mointeaeh Ltd Detailed Statement of Financial Activities for the Year Ended 30 November 2022 Total 2022 Total 2021 Income Endoivm¢nt5 from: Doi)alioiis and legaLies (analysed below) Other tradin¥ activities (analysed below) Other income (an01ysed below) Total income 250 9,549 15,335 12,973 24,088 ?5,134 Expenditure on: Roising funds (analysed below) Other expenditure lanalysed below) I'olal expenditure Nel (exp¢nditure)linLome Nei movcmenl in funds {7,473) {20,671) (6,353) {14,460) (28,144) {20,813) (4.056) 4.321 (4,056) 4,321 Reconciliation of funds Total funds brought fonvard Tolal funds carried forward 58.559 54,238 54,503 58,559 This page doe5 not forni part of the statutory financial statements. Page 22
Muintir na MointeAch Ltd Detailed Statement of Financial Activities for the Year Ended 30 November 2022 Total 2022 Total 2021 Doiiolion.F and legac'les Donated ¥oods 250 250 Oilier iradlnx a£'livilie.s Grants - other a¥cies Rent froin Bowling Club Rent from Jujitsu Club Rent from Yoga and Keep Fit Rent from Derrylaughan GAC Rent froin Thursday Chat Room Rent froln Coinmercial & Coinmunity Rent froin Family 14ire Rent troin Sundry Classes Coffee Shop Takings Coffee Shop Purcliases Primary purpose trading 5,313 400 840 120 5.126 190 300 500 57 1.159 148 280 885 130 2,431 {724) 1,292 310 4,990 (4,278) 1,195 9,549 Oiher iiiconie Equipment Sold Capital Grant Amortised 3,180 12,155 12,973 15,335 Ralsiiigfunds Rent Light. heal and power Light & Heat Electricity Insurance Repairs and maintenance Office expenses Sundry expenses Cleaner wages & Materials Covid Proteclion Expenses Community Day Trip5 Bank charges (200) (825) (1,163) (2,894) (2,067) (48) (200) (210) (345) (2,421) (2,042) (68) (537) (204) (24) (120) (182) (6,353) (88} (25) (163) (7,473) This page does not forni part of the statutory financial stat¢ments. Page 23
Muintir na Mointeach Ltd Detailed Statement of Financial Activities for the Year Ended 30 November 2022 Total 2022 Total 2021 Olher pencIllUre Telephune and fax Defibulator Expenses Depreciation of freehold property Depreciation ofplanl and Inacliinery (430) {15?) (8.586) (11,503) 18,584) {5.876) This page does not forni part of the statutory financial statements. Page 24