CavanaghKelly" Company Registration Number: N1043335 Charity Registration Number: 102647 An Tearmann Project Ltd (Charitable Company Limited by Guarantee} Annual Report and Financial Statements For the period ended 31 March 2024
An Tearmann Pro Charitable Com ect Lt Limi ed b Guarantee CONTENTS For the eriod ended 31 M 24 Page General Information Director's Report Independent Examiner's Report Statement of Financial Activitles Statement of Financial P051tion Notes to the Flnancial Statements 10-15 CavanaghKellyi Chartered Accountants & Statutory Auditors Page I
An Tearmann Pro Charitable ect Ltd an Limited b Guarantee GENERAL RMATION Director Martin McDonagh Company Secretary stephanie Mallon Registered Office Community Support Centre 64 Main Street Coalisland Co. Tyrone BT714NB Cornpany Reglstration Number N1043335 Charity Registration Number 102647 Independent Examiners CavanaghKelly Chartered Accountants & Statutory Auditors 36 - 38 Northland Row Dungannon Co. Tyrone BT716AP Bankers Allied Irish Bank 18 - 20 Scotch Street Dungannon Co. Tyrone BT70 IAZ CavanaghKellyi Chartered Accountants & Statutory Auditors Page 2
An Tearmann Pro Charitable Com ect Lt an Limi uarantee DIRECTOR'S REPORT for the 24 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 2024. 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 Companie5 Act 2006 and the Charities (Northern Ireland) Act 2008. Reference and Admlnistration Details The reference and admlnistration 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 localitles of Coalisland and Dungannon (Northern Ireland). The objectives of the charitable company are as follows.. To promote the advancement of education, the aims of this purpose bein9 to promote lifelong learning opportunities and developing strategie5 to promote the individual skills and capacities for the Traveller population. The charity provides additional educatlonal support to Traveller children and sources or provides learning opportunities for young adult and adult Travellers. To promote the advancement of human rights and conflict resolution, and to promote racial harmony and equality and diversity. The aim of this purpose Is to promote Integration between the settled and Traveller communities. The charity acts as a mediatory body for the Traveller population to develop strategies to combat perceived discrimination and to promote social inclu5ion,' and To advance citizenship and community development, the aim of this purpose being to promote the social inclusion of local Travellers and encouraging commurlity integration and access of services. The charity develops and delivers community development programmes, and ensures that Travellers are aware of local and wlder ranglng community initiatives. Publlc Benefit statement The Director of An Tearmann Projert Ltd conflrms that he has complied with his duty under section 4(61 of the Charlties Act (Northern Ireland) 2008 to have regard to the Charity Commission for Northern Ireland's guidance on public benefit that the public benefit requirement has informed the activities of the charitable company in the period ended 31 March 2024. Achlevements and Performance The Director is confident that the charitable company continues to meet it5 performance objectives to benefit the Travellers community. The charitable company continues to receive funding from local bodies. CavanaghKellyy Chartered Accountants & Statutory Auditors Page 3
An Tearmann Pro Charita ect Ltd an Limited b Guarantee DIRECTO eriod ended 31 March 2024 Continued Achievemerbts 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 schoo5 and to improve the levels of behaviour at school partlcularly those in the Traveller Community. The charlty continues to provide a drop in service to Travellers. The service provides a means of advice and a mean5 of supports to those in the Travellers community. Financial Review Financial Performance The flnancial performance was in line with the Director'5 expectations. The charitable company remains In a sound financial position at the period end. The results for the period are Set out in detai5 on pages 8 to 15. The company returned net incoming resources for the period of £753 (2023 net outgoing resources of £244). At 31 March 2024, the total funds of the charity amounted to £84,634 (2023 £83,881} 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 financlal statements. Reserves Policy The charitable company does not maintain a formal reserves policy however the Director contlnues 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 Oryanisational Structure The charitab5e 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 objerts and powers of the charitabSe company and is governed under its Articles of Association. In accordance with the Artlcles of Association, the members to retlre by rotation shall be those who have been longest In office Since their last election, and the relevant motion wlll be put at the Annual General Meeting. A retirlng member shall be eligible for re-election. Director The Director during the period Is the same as the Director a5 listed on page 2. Taxation status The charitable company is recognised as a charity by HM Revenue & Customs. Accordlngly, the charitable company has avalled of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Art 1992. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 4
An Tearmann Pro Charitable Com ect Ltd an Limited b Guarantee DIRECTOR'S REPORT for the riod ended 31 March 2024 Continued Director's Responsibilities The Director (who is also trustee of the charitable company) is responsible for preparlng the financial statements In accordance with applicable law and Unlted Klngdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Dirertor to prepare financlal 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 preparlng these fbnancial statements the Director is required to.. select suitable accounting policies and apply them consistently; observe the methods and prlnc1ples in the Charltles SORP {FRS102)' make judgements and estimates that are reasonable and prudent,. state whether applicable UK Accounting Standards have been followed, subjett to any material departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basis unless It Is inappropriate to presume that the charitable company will continue in operation. The Dlrector Is responslble 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 staternents comply wlth the Companies Act 2006. They are also responsible for safeguardlng 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 Thls report is prepared in accordance with the special provisions relating to small compan1es within Part 15 of the Companies Act 2006. Thls report was approved by the Director on 19 December 2024 and signed by.. Registered office: Cornmunity Support Centre 64 Main Street Coalisland Co. Tyrone BT71 4NB Martin McDonagh DIRECTOR Re istratTon Numb harit Re istration Number: I 47 CavanaghKelly, Chartered Accountsnts & Ststutory Auditors Page 5
An Tearmann Pro Charitable Corn ectL an Limi b Guarant INDEPENDENT EXAMINER'S REPORT statements of An Tearmann Pr he m er on eriod ended unaudited financlal rch 2024 We report on the financial Statements of the company for the perlod ended 3 1 March 2024 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 stitements in accordance with the requirements of the Companie5 Act 2006. Having satisfied ourselves that the charitable company 15 not subject to aljdit under company law, and is eligible for independent examination, it Is our responslbllity to= examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008,. follow the procedures laid down in the general Directions given by the Charity Commlssion for Northern Ireland under section 65(9)(b) of the Charities Act (Northern Ireland) 2008; and state whether particular matters have come to our attention. 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 Charlty Commlssion for Northern Ireland under sectlon 65(91(b) of the Charities Act (Northern Ireland) 2008. The exarnination included a review of the accounting records kept by the charitable company and 8 comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking expbanations from you as charitable company Director concernlng any such matters. Our role is to state whether any material matter5 have come to our attention givlng us cause to believe.. That accounting records were not kept in accordance with sertlon 386 of the Companies Act 2006,. or That the accounts do not accord wlth those accounting records. or That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charlties Statement of Recommended Practice appllcable to charities preparing their accounts in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Ireland; or That there is further information needed for a proper understanding of the accounts to be reached. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 6
An Tearmann Pro Charitable ect Ltd Limsted b Guarantee INDEPENDENT EXAMINER'S REPORT to the members on the unaudlted flnancial statements of An Tearmann Pro ect Ltd for the eriod ended 31 March 2024 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 Dirertions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attentlon. Mr. yan Falls (Senior tory Auditor) for and on behalf of Cavanagh Kelly Chartered Accountants & Statutory Auditors 36-38 Northland Row Dungannon Co Tyrone BT71 6AP 19 December 2024 CavanaghKellyi Chartered Accountants & Statutory Auditors Page 7
An Tearmann Pro ect Ltd Charitable Com an Limited b Guarantee srATEMENT OF FINANCIAL ACTIVITIES Includin an Income & Ex enditure account eriod ended 31 March 202 Unrestricted Restricted Funds Funds 2024 2024 Total Funds 2024 Total Funds 2023 INCOME AND ENDOWMENTS Income from Charitable Activities (Note 3) Investment Income (Note 3) TOTAL INCOME AND ENDOWMENTS 71,597 71,597 801 71,403 297 801 801 RESOURCES EXPENDED Charitable Activities l Note 4) TOTAL RESOURCES EXPENDED 48 48 Net incoming/(outgoing) resources for the period 753 753 244 Balance brought forward 83,881 83,881 83,637 Balance carried forward The above Statement of Financial Attivities includes all information as required to be disclosed by the Companies Act 2006. All of the activities of the company are classed a5 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. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 8
An Tearmann Pro Charitable Com ectL Limi d b Guarantee TATEMENT OF FINANCIAL PO ITI N as at 31 March 2024 Note 2024 2023 Current Assets Receivables Cash and cash equivalents 17,603 17,354 143 582 160,936 161,883 Payables: Amounts falling due wlthin one year (77,249) (77,055) Net Assets REPRESENTED BY: Unrestricted funds Restricted funds Total Funds io io io 84,634 83,881 These financial statements have been prepared in accordance with the provisions applicable to the small conipanies, regime within Part 15 of the Companies Att 2006. For the financlal period ended 31 March 2024 the company was entitled to exemptlon from audit under section 477 of the Companles Act 2006. The Director confirms that the member has not required the company to obtain an audlt of Its financial statement5 for the perlod in question in accordance with section 476 of the Companies Act 2006. The Director acknowledges hls responsibilitie5 for ensuring that the charltable 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 wlth the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companles Act 2006 relating to flnancial 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 2024 and signed by.. re approved and authorised for issue by the Direttor on 19 December Martin McDonagh DIRECTOR mber: NI ion Number: 10 harit R CavanaghKellyi Chartered Accountants & Statutory Auditors Page 9
An Tearmann Pro ect Ltd haritable Com an Limited b Guarantee NOTES T For the THE FINANCIAL STATEMENTS eriod nded 31 March 2024 I. 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 vvound up, the liability in respect of the guarantee is limited to £1 per member of the charitable company. The address of the reglstered offlce Is as shown on page 2. The charitable company constitutes a public benefit entity as defined by FRS 102. 2. ACCOUNTING POLICIES The followlng 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 wlth Accounting and Reporting by Charites: Statement of Recommended Practice {SORPI applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applic8ble in the UK and Republic of Ireland (FRS 102) effective l January 2019 (Second Edition), the Financial Reporting Standard applicable in the United Kingdotn and Republic of Ireland (FRS 1021 and the Companies Act 2006. 2.2 Basis of Preparation The financial statements are prepared on a going concern basis under the historical cost conventlon unless otherwise stated in the relevant accounting policy. Hlstorical 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 wlth items which are considered materlal 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 srnall charity under the Charities SORP and a small company under Companies Act 2006 has applied Update Bulletin 2 as published on l January 2019 and does not include a cash flow statement on the grounds that it is applying FRS 102 Section IA. 2.4 Income and Endowments (i) Charitable Activities Income from charitable activities includes income received under contrart 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 reliabiSity. 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 CavanaghKellyy Chartered Accountants & Statutory Auditors Page 10
An Tearmann Pro Charitable Com ect Ltd an Limited rant NOTES TO THE FINANCIAL STATEMENT For the eriod ended 31 March 2024 ued 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} (l) 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 charlty has one type of funds for which it is responsible at the perlod end.. Unrestricted Funds Fund5 which are expendable at the dlscretion of the Direttors in furtherance of the objectives of the charitable company. In addition, funds may be held In order to finance capital Investment and working capital. Restrlcted Funds Income received for speciflc purposes. Such purposes are within the overall aims of the charitable company. 2.7 Trade and Other Receivables Trade and other receivable5 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 Taxatton As a charity, the charitable company is not liable to Corporation Tax. 2.10 Cash and cash equivalents Cash and cash equivalent5 includes cash in hand, deposits held at call with banks, other short-term highly liquid Investment5 Wlth original maturitles of three months or less and bank overdrafts. 2.11 Financlal Instruments The company has chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial instruments. (i) Financial assets Basic flnancial assets, including trade and other receivables, cash and bank balances and mounts owed by related parties and are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transartlon is measured at the present value of the future receipts discounted at a market rate of interest. Such a55ets are subsequently carried 8t amortised cost using the effective interest method. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 11
AnT Ch rmann Pro ect Ltd an Limited b Guarantee ri NOTES T For the THE FINANCIAL STATEMENTS riod ended 31 March 2024 continued 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 recognlsed. The impalrment reversal is recognised in proflt or loss. Flnancial assets are derecognised when (a) the contractual rights to the cash flows from the ?sset expire or are settled, or Ibl 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 unllaterally sell the Bsset to an unrelated third party without imposing additional restrictions. Basic financial liabilities, Including trade and other payables, bank loans and overdrafts and amounts owed to related parties are initially recognised 8t transaction price, unless the arrangement constitutes 8 financing transaction, where the debt instrument is measured at the present value of the future receipts dlscounted at a market rate of interest. Debt instruments are Subsequently carried at amortised cost, using the effectlve 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 liquidlty services and amortised over the period of the facility to which it relates. Trade payables are obligations to pay for good5 or services that have been acquired in the ordinary course of business from supplbers. Accounts payable are classifled as current liabilities if payment is due within one year or less. If not, they are presented as non-current 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 Siability is extingulshed, 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 arnounts and there is an intention to settle on a net basis or to realise the asset and settle the liability slmultaneou51y. CavanaghKellyi Chartered Accountants & Statutory Audltors Page 12
An Tearmann Pro ect Ltd Chari Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS For the eriod end d 31 March 2024 contlnued 3. INCOME AND ENDOWMENTS Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Income from Charitable Activities SHSCT Armagh & Dungannon Trust Craigavon Traveller Support Education Authorlty MUC Education Authority 20121 35,173 5,675 30,749 35,173 5,675 30,749 35,173 5,481 30,749 71,597 71,597 71,403 Investment Income Bank deposit interest Total Income and Endowments 801 801 801 297 Income from Charitable Artivities in the year ended 31 Mèrch 2023 of £71,403 was made up entirely of restricted funds. Investment incotlle from Charitable Activities in the year ended 31 March 2023 of £297 was made up entirely of unrestricted funds. 4. RESOURCES EXPENDED Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Charitable Activities Rent & rates Homework club Heat & light Telephone Management expenses other programme expenses stationery & other office expenses rr Costs Insurance Accountèncy Bank charges General expenses Legal Fees 9,410 30,748 9,410 30,748 9,410 30,749 21,316 5,928 21,316 5,928 18,090 8,538 451 776 2,443 451 776 2,443 48 387 274 2,383 53 1,541 48 525 525 48 Expenditure on Charitable Activities in the year ended 3 1 March 2023 of £7 1,456 was made up of £7 1,403 of restritted expenditure and £53 of unrestricted expenditure. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 13
An Tearmann Pro ect Ltd Charitabl an Limited b Guarante NOTES TO THE FINANCIAL STATEMENTS For the eriod ended 31 March 2024 continued 5. NET INCOME/(EXPENDITURE) FOR THE PERIOD Net income/(expenditure) is stated after charging/{crediting)'. 2024 2023 Independent Examiner's remuneration 6. STAFF COSTS AND EMPLOYEE BENEFITS The charitable company dld not have any employees during the period. 6.1 DIRECTOR'S REMUNERATION The Dirertor received nor waived any remuneration or any other benefits during the period and no reimbursements of expenses incurred. 7. RECEIVABLES 2024 2023 other receivables 8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade payables Accruals 76,249 76,055 9. ANALYSIS OF NET ASSETS Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Tot31 Funds 2023 Current Assets Current Liabilities 84,634 77,249 161,883 160,936 CavanaghKellyi Chartered Accountants & Statutory Auditors Page 14
An Tearmann Pro"ect Ltd Charitable Com an Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS For the eriod ended 31 M rch 2024 continued 10. ANALYSIS OF FUNDS Opening Balance Income Expenditure Closing Balance SHSCT Armagh & Dungannon Trust Craigavon Traveller Support Education Authority Restricted Funds 35,173 5,675 (35,173) (5,675) 71,597 (71,597} Unrestricted Funds 83,881 801 (48) 84,634 Total Funds 11. CONTINGENT LIABILITIES A contingent liability exists to repay grants received should certain conditions not be fulfilled by the charitable company. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 15