All Set cross-cultural Project Financial Accounts- 2023-2024 The above document wa5 reviewed and adopted on rd 3 Dec. 2024 Signed: Connor Moore Chairperson Registered Charity Number 102212 All Set Cross Cultural Project Report and Accounts 31 March 2024 All Set Cross Cultural Project Report and accounts Contents Page Trusteess. report Independent Examiners Report Profit and loss account Balance sheet Noles to the accounts All Set Cross Cultural Project Registered Charlty Number: Trusteess. Report 102212 The trustees present their report and accounts for the year ended 31 March 2024. Prlnclpal actlvlties The principal activity during the year continued to be the advancement of education. understanding and appreciation of Irish and Scottish traditional music and dance among people of all ages but particularly the young in Northern Ireland ( hereafter called the "area of benefit") by.. Organising workshops,classes and public performances lo provide access to and promote interest and participation in tradits'onal Irish and Scottish music and dance for all sections of the community in the area of benefit. Trustees The following persons served as board members and trustees during the year.. Lost of Offlce Bearers & Board Member8 Chair- Connor Moore Secretary- Naoimi Allen Treasurer- Dorothy McGarrity Board Members Ashley Farrell Siobhan Quinn Ailin Litter Danielle McKernan Jen Shiels This report v￿S approved by the board on and signed on its behalf. Dorothy McGarrty Trustee l Treasurer All Set Cross Cultural Project Independent Examiner's Report Independent examiner's report to the charity trustees of All Set Cross Cultural Project I report on the accounts of the Trust for the year ended 31 March 2024, which are set out on pages 3 to Respective responsibilities of charity trustees and examiner As the charitys trustees you are responsible for the preparation of the accounts in accordance with the It is my responsibilty to.. a) Examine the accounts under section 65 of the Charities Act b) Follow the procedures laid down in the general Directions given by the Commission under section 65191{b) of the Charit￿5 Act c) State whether particular matters have come to my attentbon. Basis of independent examiner's report I have examined your charity accounts as required under seth.on 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northem Ireland under section 65(9)(b) of the Charities Act. My examination included a review of the accounting records kept by the charty and a companson of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts. and seeking explanations from you as charity Iruslees concerning any such matters. My role is to state whether any material mattets have come to my attention giving me cause to believe.. al That accounling records were not kept in accordance with seclion 63 of the Charities Act bl That the accounts do not accord wrth those accounting records c} That the accounts do not comply with the accounting requirements of the Charrties Act dl That there is further infomiation needed for a proper understanding of the accounts to be reached. Independent examinerfs statement I have completed my examination ancl have no concerns In respect ot the matters (i ) to (4) Iisled above and, in connection with following the Directions of the Charty Commission for Northern Ireland, I have found no matters that require drawing to your attenlion. Name.. Rowan Mcmahon Professional Qualification.. CertrfEd Public Accountant Address: 109 Church Street, Portadown. Co Armagh, BT62 3DB Date. 29 November 2024 All Set Cross Cultural Project Profit and Loss Account for the year ended 31 March 2024 2024 2023 Income 71,286 73,454 Direct Costs {59,9291 {54,676) Gross Surplus 11,357 18,778 Administrative expenses {23,120) {16,584) Operatlng (D8feclt)Isurplus (11,763) (Deleclt)Isufplus for the flnanclal year 11,763 2,194 All Set Cross Cultural Project Registered number: Balance Sheet as at 31 March 2024 102212 Notes 2024 2023 Flxed assets Tangible assets 30.995 38,743 Current assets Debtors Cash at bank and in hand 4,662 27,018 31,678 43,414 43,414 Credltors: amounts falllng due wlthln one year (2,1861 (9.907) Net current assets 29,492 33.507 Net assets 60,487 72,250 Capltal and re8erve8 Reserve account 60,487 72,250 Reserves 60,487 72,250 Trustee l Treasurer Approved by the board on 5111 All Set Cross Cultural Project Notes to the Accounts for the year ended 31 March 2024 1 Accounting pollcles Basis of preparation The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). Tumover Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of servI￿s. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contracl. The stage of completion of a contract is measured by comparing the Costs incurred for work performed lo date to the total estimated contract costs. Intanglble flxed assets Intangible fixed assets are measured at cost less accumulatSve amortisation and any accumulative impairment losses. Tanglble flxed assets Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all langible fixed assets, other than freehold land, at rales calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows.. Ffeehold buildings Leasehold land and buildings Plant and machinery Fixtures, fittings, tools and equipment over 50 years over the lease term over 5 years over 5 years Investments Investmenls in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured al fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. Stocks Stocks are measured al the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. Debtors Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. All Set Cross Cultural Project Notes to the Accounts for the year ended 31 March 2024 Creditors Short term creditors are measured at transaction price {which is usually the invoice price}. Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective inlerest method. Taxatlon A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred lax is recognised in respect of all timing differences bet￿een the recognition of income and expenses in the financial statements and their inclusion in lax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the lax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. except for revalued land and investment property where the tax fate that applies to th8 sale of the assel Is used. Current and deferred tax assets and liabilities are not discounted. Pmvlslons Provisions (ie liabilities of uncertain timing or amount) are recognised vthen there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. Forelgn currency franslatlon Transactions in foreign currencies are initially recognised at the rale of exchange ruling at the dale of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured al historical cost are translated at the rate ruling al the date of the transaction. All differences are charged to profil or loss. Leased assets A lease is classified as a finance lease if it transfers subslantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are Initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments, Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, Ihe asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a strai9ht line basis over the lease term. Pensions Contributions to defined contribution plans are expensed in the period to which they relate. All Set Cross Cultural Project Notes to the Accounts for the year ended 31 March 2024 2 Tanglble flxed assets Plant and machlnery etc Cost At 1 April 2023 At 31 March 2024 38,743 38,743 Depreclatlon Charge for the year At 31 March 2024 7,748 7.748 Net book value At 31 March 2024 30,995 At 31 March 2023 38,743 3 Debtors 2024 2023 Trade debtors 4,862 4 Credltors: amounts falllng due wlthln one year 2024 2023 Trade creditors Other creditors 2,187 9,908 2,186 9,907 6 Other Informatlon All Set Cross Cullural Project is a Charily Registered in Northern Ireland. Its registered office is.. 38 Milltown Lane Birches Portadown Co Armagh BT62 1TB All Set Cross Cultural Project Detailed profit and loss account for the year ended 31 March 2024 This schedule does not fomi part of the statutory accounts 2024 2023 Income 71,286 73,454 Costs {59,929) (54,676) Gross Surplus 11,357 18,778 Administrative expenses {23,120} (16.584) Operatlng (Defecltllsurplus {11,763) (Defecltllsurplus 11,783 2,194 All Set Cross Cultural Project Detalled profit and loss account for the year ended 31 March 2024 This schedule does not fomi part or the statutory accounts 2024 2023 Income Income 71,286 73,454 Dlrect Costs Direct labour Other direct costs 53,539 6,390 59,929 54.676 54,676 Admlnlstratlve expenses Employee costs.. Wages and salaries 7,267 7,267 7,489 Premises costs.. Rent Light and heat 3,932 7,011 (1.906) 5,105 3,932 General administrative expenses.. Telephone and fax Stationery and printing Subscriptions Bank charges Insurance Repairs and maintenance Depreciation Sundry expenses 404 638 418 53 611 1,161 7,748 507 186 29 136 620 675 683 2,836 11,033 Legal and professional costs.. Accountancy fees Advertising and PR 888 834 320 888 23,120 16.584 ## **All Set Cross Cultural Project** ## **Profit And Loss Account - Income Analysis** ## **For the year ended 31 March 2024** |**Income**
ABC Grant Refund
Arts Council Lottery Fund - Restricted Funding
Clearway Summer School Sponsorship
ESME Mitchell Fund
Fast Trad Enrolments
Fast Trad Shirt Sponsorship
Rushmere Traders Performance
Tanzania Fundrasier
Tap Instrument Hire
TEO CGRF Funding
**Total Income**|**2024**
**£**
642.00
-
38,858.00
600.00
2,000.00
21,382.00
450.00
850.00
6,238.00
160.00
1,390.00
**71,286.00**| |---|---| ## **All Set Cross Cultural Project** ## **Profit And Loss Account - Expenses Analysis** ## **For the year ended 31 March 2024** |**Expenses**
Accountancy fees
Artist Fees - CGRF
Artist Fees - Community Foundation
Artist Fees - Rural Engagement Arts Programme
Artists Fees - FastTrad
Bank charges
Halifax Foundation Project - Restricted Funding
Instruments
Insurance
Manager Fees
Rent
Repairs and maintenance
Stationery and printing
Subscriptions
Summer Scheme
Tanzania School Fundraiser
Telephone and fax
Trophies
Wages and salaries
**Total Expenses**|**2024**
**£**
888.00
1,920.00
572.00
5,022.00
17,792.00
53.00
3,421.00
181.00
611.00
19,141.00
3,932.00
980.00
638.00
418.00
5,670.00
6,296.00
404.00
94.00
7,268.00
**75,301.00**| |---|---| All Set Cross Cultural Project Proflt And L055 Account- Income Analysis For the year ended 31 March 2023 2023 Income Arts Council Lottery Fund - Restricted Funding Arts Council Rural Engagement - Restricted Funding Community Foundation Council Fundlng - Restricted Fu ndin8 ESME Mitchell Fund Fast Trad Enrolments Halifax Foundation - Restricted Funding M iscellaneous STEPS 33,192.00 8,982.00 2,000.00 642.00 2.000.00 22.143.00 4,094.00 250.00 150.00 Total Income 73,453.00 All Set Cross Cultural Projert Profit And Loss Account- Expenses Analysls For the year ended 31 March 2023 2023 Expenses Accountancy fees Advertlsing and PR Artist Fees - Community Foundation Artist Fees - Rural Grant Pro8ramme Artist Fees National Lottery Fund Artists Fees - FastTrad Bank charges ESME M itchell Trust Instruments Insurance * Light and heat Manager Fees Rent Stationery and printing Subscriptions Sundry Telephone and fax Wages and salaries Workshops 834.00 320.00 2,000.00 4,040.00 9,981.00 18,045.00 136.00 2.030.00 675.00 620.00 1,906.00 18,579.00 3,131.00 186.00 29.00 683,00 507.00 7,489.00 3,880.00 Total Expenses 71,259.00 Substantial electriclty refund in 202212023 year