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 Ltd an Limi ed b Guarantee CONTENTS For the eriod ended 31 March 2 24 Page General Information Director's Report Independent Examiner's Report Statement of Financial Actlvities statement of Financial Position Notes to the Financial Statements 10-15 CavanaghKellyi Chartered Accountants & Statutory Auditors Page I
An Tearmann Pro Charitable Com 'ect Ltd an Limited b Guarantee GENERAL INFORMATION Director Martin McDonagh Company Secretary stephanie Mallon Registered Office Community Support Centre 64 Main Street Coalisland Co. Tyrone BT71 4NB Company Registration 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 CavanaghKelly, Chartered Accountants & Statutory Auditors Page 2
An Tearmann Pro Charitable Com "ect Ltd an Limited b Guarantee DXRECTOR'S REPORT for the eriod ended 31 March 2024 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 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 reslding in the localities 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 being to promote lifelong learning opportunities and developing strategies to promote the individual skills and capacities for the Traveller population. The charity provides additional educational 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 inclusion; and To advance citizenship and community development, the aim of this purpose being to promote the social inclusion of local Travellers and encouraging community integration and access of services. The charity develops and delivers community development programmes, and ensures that Travellers are aware of local and wider ranging community initiatives. Public Benefit Statement The Director of An Tearmann Project Ltd conflrms 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 2024. 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. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 3
An Tearmann Pro Charitable Com "ect Ltd an Limited b Guarantee DIRECTOR'S REPORT for the erio en Imar 24 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 rneans 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 incorning 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) cornprislng entirely of unrestricted funds. Principal sources of funding and how this has supported the key objectives of the charity are disclosed in the note5 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 Artlcles 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 Annua5 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 Corporatlon Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 4
An Tearmann Pro Charitable Com "ect Ltd an Limited b Guarantee DIRECTOR'S REPORT for the eriod ended 31 March 2024 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 cornpany 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.. select suitable accounting policies and apply them consistently,. observe the methods and principles in the Charities SORP (FRS102)' make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standard5 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 wi51 continue in operation. 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 srnall companies within Part 15 of the Companies Act 2006. This report was approved by the Director on 19 December 2024 and signed by.. Registered office: Community Support Centre 64 Main Street Coalisland Co. Tyrone BT714NB Martin McDonagh DIRECTOR Com an Re is is n Number: N1043335 ration Number: CavanaghKellyi Chartered Accountants & Statutory Auditors Page 5
An Tearmann Pro"ect Ltd Charitable Com an Limited b Guarantee INDEPENDENT EXAMINER'S REPORT to the members on the unaudited financial statements of An Tearmann Pro ect Ltd for the eriod ended 31 March 2024 We report on the financial statements of the company for the period ended 31 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 statement5 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: 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 Commission 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 Charity Commission for Northern Ireland under sectlon 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.. That accounting records were not kept in accordance with section 386 of the Companies Act 2006; or That the accounts do not accord with those accountlng records; or That the accounts do not comply with the accounting requirements of section 396 of the Companie5 Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their accounts in accordance with 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 Com "ect Ltd an Limited b Guarantee INDEPENDENT EXAMINER'S REPORT to the members on the unaudited financial 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 Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Mr. kyan 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 Charitable Com -ect Ltd an Limited b Guarantee STATEMENT OF FINANCIAL ACTIVITIES Includin an Income & Ex enditure account For the eriod ended 31 March 2024 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 ( Note 4) TOTAL RESOURCES EXPENDED 48 48 Net incoming/(outgoing) resources for the period 753 753 244 Balance brought fonvard 83,881 83,881 83,637 Balance carried forward The above Statement of Financial Activities include5 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. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 8
An Tearmann Pro Charitable Com "ect Ltd an Limited b Guarantee STATEMENT OF FINANCIAL POSITION as at 31 March 2024 Note 2024 2023 Current Assets Receivables Cash and cash equivalents 17,603 144 280 161,883 17,354 143 582 160,936 Payables: Amounts falling due within 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 companies, regime within Part 15 of the Companies Act 2006. For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Att 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 Companles 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 page5 10 to 15 form an integral part of the financial statements. The financial statements w 2024 and signed by.. re approved and authorised for issue by the Director on 19 December Martin McDonagh DIRECTOR Com Re istratio mber: N1043 istration Number: 102 47 CavanaghKellyi Chartered Accountants & Statutory Auditors Page 9
An Tearmann Pro Charitable Com ect Ltd an Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS For the eriod ended 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 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 accountlng 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 l January 2019 (Second Edition), the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Companie5 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 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 small 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 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 staternent 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 CavanaghKellyi Chartered Accountants & Statutory Auditors Page 10
An Tearmann Pro Charitable Com "ect Ltd an Limite b Guarantee NOTES TO THE FINANCIAL STATEMENTS For the eriod ended 31 March 2 24 continued 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 initiaSly 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. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 11
An Tearmann Pro Charitable Com "ect Ltd an Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS For eriod ended 31 Mar h 2024 continued At the end of each reporting period financial assets measured at arnortised 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. (li) 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 obligation5 to pay for goods or services that have been acqulred 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 extlnguished, 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. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 12
An Tearmann Pro Charitable Com ect Ltd an Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS For the eriod ended 31 March 2024 continued 3. INCOME AND ENDOWMENTS Unrestricted Funds 2024 Restrirted Funds 2024 Total Funds 2024 Total Funds 2023 Income from Charitable Activities SHSCT Armagh & Dungannon Trust Craigavon Traveller Support Education Authorlty MUC Education Authority 20/21 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 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 Unrestricted Funds 2024 Restricted Funds 2024 Tota I Funds 2024 Total Funds 2023 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 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 31 387 274 2,383 53 1,541 451 776 2,443 451 776 2,443 48 48 525 525 48 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. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 13
An Tearmann Pro Charitable Com "ect Ltd an Limited b Guaran ee 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 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. RECEXVABLES 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 Total Funds 2023 Current Assets Current Liabilities 84,634 77,249 161,883 160,936 CavanaghKellyi Chartered Accountants & Statutory Auditors Page 14
An Tearmann Pro Charitable Com ect Ltd an Limited b Guarantee NOTES TO THE FINANCIAL STATEMENTS For the eriod ended 31 March 2024 continued 10. ANALYSIS OF FUNDS Opening Balance Income Expenditure Closing Balance sHs 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 exist5 to repay grants received should certain conditions not be fulfilled by the charitable company. CavanaghKellyi Chartered Accountants & Statutory Auditors Page 15