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2023-03-31-accounts

Company Registration Number: NI043335 Charity Registration Number: 102647

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

Annual Report and Financial Statements

For the period ended 31 March 2023

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

CONTENTS For the period ended 31 March 2023

Page
General Information 2
Director’s Report 3 – 5
Independent Examiner’s Report 6 - 7
Statement of Financial Activities 8
Statement of Financial Position 9
Notes to the Financial Statements 10 – 15

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 1

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

GENERAL INFORMATION

Director

Company Secretary Registered Office

Company Registration Number Charity Registration Number Independent Examiners

Bankers

Martin McDonagh

Stephanie Mallon

Community Support Centre 64 Main Street Coalisland Co. Tyrone BT71 4NB NI043335

102647

CavanaghKelly Chartered Accountants & Statutory Auditors 36 - 38 Northland Row Dungannon Co. Tyrone BT71 6AP

Allied Irish Bank 18 - 20 Scotch Street Dungannon Co. Tyrone BT70 1AZ

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 2

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

DIRECTOR’S REPORT for the period ended 31 March 2023

The Director, who is the trustee for the purpose of charity law, has pleasure in presenting his report and the unaudited financial statements of the charitable company for the period ended 31 March 2023.

The financial statements have been prepared in accordance with the Statement of Recommended Practice “Accounting and Reporting by Charities” (FRS 102), United Kingdom Generally Accepted Accounting Practice, the Companies Act 2006 and the Charities (Northern Ireland) Act 2008.

Reference and Administration Details

The reference and administration details of the charitable company are as shown on page 2.

Objectives and Activities

An Tearmann Project Ltd is a Traveller support organisation. The main beneficiaries of the project are the local Irish Traveller population residing in the localities of Coalisland and Dungannon (Northern Ireland).

The objectives of the charitable company are as follows:

Public Benefit Statement

The Director of An Tearmann Project Ltd confirms that he has complied with his duty under section 4(6) of the Charities Act (Northern Ireland) 2008 to have regard to the Charity Commission for Northern Ireland’s guidance on public benefit and that the public benefit requirement has informed the activities of the charitable company in the period ended 31 March 2023.

Achievements and Performance

The Director is confident that the charitable company continues to meet its performance objectives to benefit the Travellers community. The charitable company continues to receive funding from local bodies.

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 3

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

DIRECTOR’S REPORT for the period ended 31 March 2023 (Continued)

Achievements and Performance (Continued)

During the period the charity received funding from the Education Authority to run a Homework Club project with the objective to increase the levels of attendance at school and to improve the levels of behaviour at school particularly those in the Traveller Community.

The charity continues to provide a drop in service to Travellers. The service provides a means of advice and a means of supports to those in the Travellers community.

Financial Review

Financial Performance

The financial performance was in line with the Director’s expectations. The charitable company remains in a sound financial position at the period end. The results for the period are set out in detail on pages 8 to 15. The company returned net incoming resources for the period of £244 (2022 – net outgoing resources of £5,954).

At 31 March 2023, the total funds of the charity amounted to £83,881 (2022 - £83,637) comprising entirely of unrestricted funds. Principal sources of funding and how this has supported the key objectives of the charity are disclosed in the notes to the financial statements.

Reserves Policy

The charitable company does not maintain a formal reserves policy however the Director continues to monitor the level of reserves held by the charitable company and is satisfied that these are adequate to meet any unforeseen expenditure incurred.

Structure, Governance and Management

Organisational Structure

The charitable company is a company limited by guarantee, not having a share capital.

The charitable company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association.

In accordance with the Articles of Association, the members to retire by rotation shall be those who have been longest in office since their last election, and the relevant motion will be put at the Annual General Meeting. A retiring member shall be eligible for re-election.

Director

The Director during the period is the same as the Director as listed on page 2.

Taxation status

The charitable company is recognised as a charity by HM Revenue & Customs. Accordingly, the charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992.

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 4

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

DIRECTOR’S REPORT for the period ended 31 March 2023 (Continued)

Director’s Responsibilities

The Director (who is also trustee of the charitable company) is responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Director to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements the Director is required to:

The Director is responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Small Companies Exemption

This report is prepared in accordance with the special provisions relating to small companies within Part 15 of the Companies Act 2006.

This report was approved by the Director on 21 December 2023 and signed by:

Registered office:

Community Support Centre 64 Main Street Coalisland ________ Co. Tyrone Martin McDonagh BT71 4NB DIRECTOR

Company Registration Number: NI043335

Charity Registration Number: 102647

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 5

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

INDEPENDENT EXAMINER’S REPORT to the members on the unaudited financial statements of An Tearmann Project Ltd for the period ended 31 March 2023

We report on the financial statements of the company for the period ended 31 March 2023 which are set out on pages 8 to 15.

Respective Responsibilities of the Director and Independent Examiner

As the charitable company’s Director, who is the trustee for the purpose of charity law, you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied ourselves that the charitable company is not subject to audit under company law, and is eligible for independent examination, it is our responsibility to:

Basis of Independent Examiner’s Report

We have examined your charitable company’s financial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008. The examination included a review of the accounting records kept by the charitable company and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charitable company Director concerning any such matters.

Our role is to state whether any material matters have come to our attention giving us cause to believe:

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 6

An Tearmann Project Ltd

(Charitable Company Limited by Guarantee)

INDEPENDENT EXAMINER’S REPORT to the members on the unaudited financial

statements of An Tearmann Project Ltd for the period ended 31 March 2023 (Continued)

Independent Examiner’s Statement

We have completed our examination and have no concerns in respect of the matters listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention.

Mr. Ryan Falls (Senior Statutory Auditor) for and on behalf of Cavanagh Kelly

Chartered Accountants & Statutory Auditors 36-38 Northland Row Dungannon Co Tyrone BT71 6AP

21 December 2023

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 7

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (Including an Income & Expenditure account) For the period ended 31 March 2023

INCOME AND ENDOWMENTS
Income from Charitable Activities (Note 3)
Investment Income (Note 3)
TOTAL INCOME AND ENDOWMENTS
RESOURCES EXPENDED
Charitable Activities (Note 4)
TOTAL RESOURCES EXPENDED
Net incoming/(outgoing) resources
for the period
Balance brought forward
Balance carried forward		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2023
2023
2023
£
£
£
-
71,403
71,403
297
-
297
297
71,403
71,700
53
71,403
71,456
53
71,403
71,456
244
-
244
83,637
-
83,637
83,881
-
83,881		 Total
Funds
2022
£
75,863
10
75,873
69,919
69,919
(5,954)
77,683
83,637

The above Statement of Financial Activities includes all information as required to be disclosed by the Companies Act 2006.

All of the activities of the company are classed as continuing.

The Statement of Financial Activities includes all gains and losses recognised during the period.

The notes on pages 10 to 15 form an integral part of the financial statements.

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 8

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

STATEMENT OF FINANCIAL POSITION as at 31 March 2023

Note
Current Assets
Receivables
7
Cash and cash equivalents
Payables: Amounts falling due within one
year
8
Net Assets
9
REPRESENTED BY:
Unrestricted funds
10
Restricted funds
10
Total Funds
10		 2023
£
17,354
143,582
160,936
(77,055)
83,881
83,881
-
83,881		 2022
£
24,469
134,682
159,151
(75,514)
83,637
83,637
-
83,637

These financial statements have been prepared in accordance with the provisions applicable to the small companies’ regime within Part 15 of the Companies Act 2006.

For the financial period ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The Director confirms that the member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 of the Companies Act 2006.

The Director acknowledges his responsibilities for ensuring that the charitable company keeps accounting records which comply with Section 386; and for preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of the financial period and of its incoming or outgoing resources for the financial period in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

The notes on pages 10 to 15 form an integral part of the financial statements.

The financial statements were approved and authorised for issue by the Director on 21 December 2023 and signed by:

-

________

Martin McDonagh DIRECTOR

Company Registration Number: NI043335 Charity Registration Number: 102647

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 9

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS For the period ended 31 March 2023

1. GENERAL INFORMATION

An Tearmann Project Ltd is a charitable company limited by guarantee incorporated in Northern Ireland within the United Kingdom. In the event of the charitable company being wound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company. The address of the registered office is as shown on page 2.

The charitable company constitutes a public benefit entity as defined by FRS 102.

2. ACCOUNTING POLICIES

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charitable company’s financial statements.

2.1 Statement of Compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charites: Statement of Recommended Practice (SORP) applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019 (Second Edition), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companies Act 2006.

2.2 Basis of Preparation

The financial statements are prepared on a going concern basis under the historical cost convention unless otherwise stated in the relevant accounting policy. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the charitable company's financial statements.

2.3 Cash Flow Statement

The charitable company in accordance with the provisions available to it as a small charity under the Charities SORP and a small company under Companies Act 2006 has applied Update Bulletin 2 as published on 1 January 2019 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section 1A.

2.4 Income and Endowments

(i) Charitable Activities

Income from charitable activities includes income received under contract or where entitlement to grant funding is subject to specific performance conditions. It is recognised as earned as the related services or goods are provided. Grant income is recognised in the Statement of Financial Activities when receivable. Grant income included in this category provides funding to support projects and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

2.5 Resources Expended

Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods and services are supplied. Where costs

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 10

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (continued) For the period ended 31 March 2023

cannot be directly attributed to a particular heading they have been allocated to activities on the basis of staff time spent on those activities.

2. ACCOUNTING POLICIES (Continued)

(i) Charitable Activities

This comprises all the resources applied by the charitable company in undertaking its work to meet its charitable objectives. Charitable activities will include the costs of governance arrangements which relate to the general running of the charity.

2.6 Fund Accounting

The charity has one type of funds for which it is responsible at the period end:

Unrestricted Funds – Funds which are expendable at the discretion of the Directors in furtherance of the objectives of the charitable company. In addition, funds may be held in order to finance capital investment and working capital.

Restricted Funds - Income received for specific purposes. Such purposes are within the overall aims of the charitable company.

2.7 Trade and Other Receivables

Trade and other receivables are initially recorded at fair value and thereafter stated at cost less impairment losses for bad and doubtful debts.

2.8 Trade and Other Payables

Trade and other payables are initially recognised at fair value and thereafter stated at cost.

2.9 Taxation

As a charity, the charitable company is not liable to Corporation Tax.

2.10 Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits held at call with banks, other short-term highly liquid investments with original maturities of three months or less and bank overdrafts.

2.11 Financial Instruments

The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amounts owed by related parties and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method.

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 11

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (continued) For the period ended 31 March 2023

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

2. ACCOUNTING POLICIES (Continued)

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the establishment of loan facilities are recognised as transaction costs of the loan to the extent that it is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and amortised over the period of the facility to which it relates.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.

Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 12

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (continued) For the period ended 31 March 2023

3. INCOME AND ENDOWMENTS

Income from Charitable Activities
SHSCT Armagh & Dungannon Trust
Craigavon Traveller Support
Education Authority
MUC
Education Authority 20/21
Investment Income
Bank deposit interest
Total Income and Endowments		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2023
2023
2023
£
£
£
-
35,173
35,173
-
5,481
5,481
-
30,749
30,749
-
-
-
-
-
-
71,403
71,403
297
-
297
297
71,403
71,700		 Total
Funds
2022
£
33,840
5,274
24,469
6,000
6,280
75,863
10
75,873

Income from Charitable Activities in the year ended 31 March 2023 of £71,403 was made up entirely of restricted funds. Investment income from Charitable Activities in the year ended 31 March 2023 of £297 was made up entirely of unrestricted funds.

4. RESOURCES EXPENDED

Charitable Activities
Rent & rates
Homework club
Heat & light
Telephone
Management expenses
Other programme expenses
Stationery & other office expenses
IT Costs
Insurance
Accountancy
Bank charges
General expenses		 Unrestricted
Funds
Restricted
Funds
Total
Funds
2023
2023
2023
£
£
£
-
9,410
9,410
-
30,749
30,749
-
-
-
-
-
-
-
18,090
18,090
-
8,538
8,538
-
31
31
-
387
387
-
274
274
-
2,383
2,383
53
-
53
-
1,541
1,541
53
71,403
71,456		 Total
Funds
2022
£
9,558
30,749
758
436
21,032
5,490
35
-
-
1,805
56
-
69,919

Expenditure on Charitable Activities in the year ended 31 March 2023 of £71,456 was made up of £71,403 of restricted expenditure and £53 of unrestricted expenditure.

5. NET INCOME/(EXPENDITURE) FOR THE PERIOD

Net income/(expenditure) is stated after charging/(crediting):

Independent Examiner’s remuneration 2023
£
2,583
2,583		 2022
£
1,805
1,805

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 13

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (continued) For the period ended 31 March 2023

6. STAFF COSTS AND EMPLOYEE BENEFITS

The charitable company did not have any employees during the period.

6.1 DIRECTOR’S REMUNERATION

The Director received nor waived any remuneration or any other benefits during the period and no reimbursements of expenses incurred.

7. RECEIVABLES

Other receivables
8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade payables
Accruals
9. ANALYSIS OF NET ASSETS
Unrestricted
Funds
Restricted
Funds
2023
2023
£
£
Current Assets
83,881
77,055
Current Liabilities
-
(77,055)
83,881
-		 Other receivables
8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade payables
Accruals
9. ANALYSIS OF NET ASSETS
Unrestricted
Funds
Restricted
Funds
2023
2023
£
£
Current Assets
83,881
77,055
Current Liabilities
-
(77,055)
83,881
-		 2023
£
17,354
17,354
2023
£
76,055
1,000
77,055


Total
Funds

2023

£

160,936

(77,055)
83,881		 2022
£
24,469
24,469
2022
£
74,514
1,000
75,514
Total
Funds
2022
£
159,151
(75,514)
83,881
-		 83,637

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 14

An Tearmann Project Ltd (Charitable Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS (continued) For the period ended 31 March 2023

10. ANALYSIS OF FUNDS

SHSCT Armagh & Dungannon Trust
Craigavon Traveller Support
Education Authority
Restricted Funds
Unrestricted Funds
Total Funds		 Opening
Balance
£
Income
£
Expenditure
£
Closing
Balance
£
-
35,173
(31,573)
-
-
5,481
(5,481)
-
-
30,749
(30,749)
-
-
71,403
(71,403)
-
83,637
297
(53)
83,881
83,637
71,700
(71,456)
83,881

11. CONTINGENT LIABILITIES

A contingent liability exists to repay grants received should certain conditions not be fulfilled by the charitable company.

________________ CavanaghKelly, Chartered Accountants & Statutory Auditors Page 15