REGJSTERED COMPANY NUMBER: NJ037403 (Northern Jreland) REGISTERED CHARITY NUMBER: 103397 REPORT OF THE TRUSTEES AIND FINANCIAL STATEMENTS FOR THF, YF.AR F.NDF,D.11 MARC.H 2023 FOR TARA CEIYTRE McAleer Jackson Ltd Chartered Accountants & Statutory Auditors Churcli House 24 Dublin Road OMAGH C.0. Tyrone BT78 IHE
TARA CENTRE CONTENTS OF THE FINANCIAL STATEMENTS FOR THE IE.AR ENDED 31 TrqARCH 2023 Page Reference and Admlnlstratlve Detalls Report ot Ihe Trustees Report of the Independent.4udltors Statement ot. Flnanclal Aclli'ltles Balanee Sheet Notes to the Flnancl&l Statements 9 to 15
TARA CENTRE REFERELNCE AND ADMINISTIL4TIN'E DETAILS 'OR'J'HL YE,IR EiNDED 31 MARLH 21)23 TRUSTEES Hugo Sweeney Anna Harte Sainuel loung Mary Fi'icl Tai? Boyle John Slane (appointed 1.3.2)) Noreen Mc(iiir (appointed 1.3.23) Margaret Moohan (resigned 29.4.21) Niamh Murnaghan {rcsignLd 31.12.22) Francis McGlone (resigned 12.5.22) COMPANY SECRETARY Mary Friel REGISTERED OFFICE I l HolmviLw Terrace oinagli Co. Tyrone BT79 OAH REGISTERED COMPANY NUMIJLR N1037401 (Northern Ireland) REC.ISTERED CHARITY NUMIJLR 103197 AUDITORS McAleer.lackson Lid Chartered Accountants & Si&tulory Auditors Church House 24 Dublin Road OMAGH Co. Tyrone BT78 IHE BANKERS AIB 2-4 East Bridgye Street Eniiiskillen Co. Ferngh BT74 7BT SOLICITORS Mcconnell and Fyfte The Old Rectory 21 Chui'ch Sireet OMAGH Co Tyroiie BT78 IDG Lewis Silkiii (N.I.) LLP 32-38 Linenhall Sireel BELFAST BT2 8BG Edwards & Co. Solicitors 211 Hill Slreet BELFAST BTI 2LA Page I
TARA CEiYfRE (REGISTERED NUMBER: iN1037403) REPORT OF THE TRLSTEES FOR ry'HL YE,IR EiNDED 31 lARCH 2023 The Irustees who are also directors of the cliarity for th¢ purtK)5es of the Compaiiies Act £006, present their report with the financial slalemenls of the charit), for the year ended 31 March 2023. The trustees have adopted ihe provisions of Accounling and Reporting by C,harilie%.' StutcmLnl ot Recoinm¢ndLd PrdLtiLL appliLdblL to Lharitie% prLparing theii- dccuunt% in aLLordanLe Wlth tlie FinanLidl Reporting Standard applicable in the UK and Republic ofTreland (FRS 1021 (effective l Jaiiuary 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng doeument TIIC iharily is controlled by its govLrning dociiinLnt, a dcLd of trust, and LonstilutLs a limited Lompany, limilcd b). guarantLc, as delined by the Companies Act 2006. STATEMENT OF TRUSTEES, RESPONSIBILITIES The Inisiees (who are also Ihe directors of Tara Cenire for th¢ purposes of company112W) are responsible for preparing the Report of the TrLisILLS Imd Ihc finanLial statcinLnts in accordancL With &pplieablc law and UnilLd Kingdotn ALLounting Standards (UnilLd Kingdom Generally Accepted Accounting Practice). Company Idw require% the trustee% lo prepare tinuncidl ¥tiQtenient% for each findnciAI year whicli give d true anil tair i'iew ot the stale of affairs of ihe charitable Lvmpany and of the incoming resources and appliLalioi) of resources, inLluding tl)e incuine and ¢xpendilure, of the Lharitable Lompdny for that peri. In preparing those finanLial statemeiils, the trustees are required to select suiiable accounting policies and then apply them consistently. observe Ilie method¥ and principle% in Ilie Charity SORP; Inake judgemenis and esiimaieb ihai are reasonable and prudenT; prepai'e Ihe tinancial statements. on the going concern basis unlebs il is inuppropriate to presume Ihal th¢ ¢IrItable Loinpany will continue in busiiiess. Tlie tru%tee4 are re¥pvnsible tur keepiiig prDper aLLounting re¢ord% wliiLh di%¢lu%e with reu%onable aLLufdLy Ill uny liine the findllL IIII position of Ilie cliarilable ¢onipaiiy and lo enable Ilieiii lo ensure Ilial rhe finaii¢ial stai¢m¢nls comply wilh Il)e Coiiipanies A¢1 ?006. They are also respL)nsible for sdteguai'ding the asiels Ot the chllriiable Lompany anLI henLe tor taking reasonable Sl¢p5 1.or the prevei)lion 21id detection of fraud aiid other irre&iularities. In 40 far Ilie Iru%lees are awure.. there is no relevant audit infornialion of which the chariiable coinpany's auditors are unaware,, and the trustees have taken all steps that they ougFht ti) liave taken to make IhemselN'es aware of any relevant audit intormalion and to establish that the audilors are aware of thai infornialion. AUDITORS The auditors, McAleer Jackson Lid, will be proposed for re-appointment at the forthLoming Annu1 General Meeting. Approved by order of the board of trustees on 24 June 2023 and signed on ils behalf by.. Mdr> Fricl Trii4lcc Page 2
REPORT OF THE JiNDEPENDEiNT AUDJTORS TO THE MEMBERS OF Opinion We have audited the financial staieniei)Is ofTaYa Centre (the 'charilable conipany,) for the year e1)d .1 l Mah 2023 which comprise the Statement of Financial Activities, the BalaLILe Sheet and Iiotes to the fin]LIal statements, including a summary of significant accounliiib policies. The tinancial reporlins, frainework that has been applied ill their preparation is applicable law and United Kingdom Accounting Srandards (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial stateTnenl5'. give a true &nd fair Niew of the state of the charilable company's affairs as al 31 March 2023 and of ils incoming resource* and application of resource5, in¢ludingF its iiicome and expenditure, t.or the year theii ended- have been properly prepared li) accordance with Llniled Kingdom Generally Accepted Accounting Praciice. and havc bccIi prcparcd in accordance with thc rcquircmcnls of thL CompaniLs ALI 20U6. Basls for oplnlon We coiiducted our audil in accordktiice with International Sland(Ird4 on Auditing (UK) (ISA8 (UK)) and applicable Idw. Our respongibiliiies under those slc2ndards are further described in Il)e Auditors, responsibilities for 11)e audit of Ihe finaii¥ial slalejnenls scction ot" OLir rcport. IW"c arL indLPLndenl L)f thL Lharitublc Lompany in accordanLC Wlth tlic eihicthl rcquirLmLnts tliat arc rclcvant to our audit ot. the tinancial statements in the UK, includin¢Y the FRC'S Etliical Standard, and we have tultilled our other eihical responsibilitiei in accordance with these reqiiirernents. We believe that the audit evidence we hai'e obtained is sufficieni and dppropridte to provide u ba%is for our opinion. Conelllsions relating to going concern In audiliiigy the tiiiancial stalenients, we have coiiclud¢d that the Irust¢¢s' us¢ of the gvoingy concern basis of accounlingy in th¢ preparation of Ihe financial slaiemenis is appropriate. Based on the work we have performed. we have noi ideniified any inaierial unceiyainiies relaiing 10 evenis or condiiions Thai, individually or ¥olleLlively, may Last signilicanl doubt on the Lhai'itabl¢ Ltsmpaliy' ability lo continue as a going Loncem for a period ol'at least twelve nionihs trom when Ihe tinaiicial siateinents are auiliorised tol. issue. Our respvnsibil ilieb and tlie re¥pun%ibilitie% of the Iru8lees with respeLI lo going LOI)Lern are de4¢ribed iii the relevant %eLlivns of thi. report. Other Informatlon The Iruslees are responbible for the other informalion. The other iiiforinalion cornprises the informalion included in the Annual Report, uther than the finanL iul 5lateillenLs and LTriir R¢port of the Independent Auditur% ther¥on. Our opinion on the fLnancial slalements does not cover the oiher infomation and, except lo the extent otherwise explicitly slated in our report, we do not express any forni of. assurance conclusion thereon. In L'onnL'L'iion with uur dudit of thL finunLi&I stutLmL'iil.%, oui- rL'%pon%ibility is lu rcud thu othLr infomiutiun dnd, in duing su, LonsidLr whether the other inforination is materially inconsistent with the financial siatemenls or our knowledge obiained In the aiidit or othenvise appear5 to be materially mis51ated. If we identify siich material inLonsistencies or apparent material misslalemenls, we are required to delerniine wlietlier this gTives rise to a niaterial niisslalement iii the tiiiancial statenieiils Iheinselve5. If, bas¢d on the work we hav¢ performed, we conclude Ihal there is a material mis41alemenl of Iliis oih¢r inforinalion, we are required lo report Ihal faci. WL huvL nothing to rLport in Illi% rLgiird. Opinions on other motters prescribed by the Companies Act 2006 In our opinion. based oll the work underlakell in tlie iourse of'the audit.. Ihe infomiation given in the Re.porl of the Tnislees for the financial year for whieh the financial slalements are pre.pired 18 LOTl%l%tLnt with thc findnLial 4talcmLnt%; and the Report ot. the Trustees has been prepared in accordance with applicable legal requirements. Page 3
REPORT OF THE JiNDEPENDEiNT AUDJTORS TO THE MEMBERS OF lat¢ers on which we are required to report by exception In the light of the knowledge and understanding of the charitable company and ils environment obtained in the course of the audit, we have not identitied material Inisstatements in the Report of the Trustees. We have nothing tu IL'PUrt in resPLCt ot" thtr tollowing mutter5 whcrL the Companies Act ?UU6 reqiiirc% tL) repurt to yuu if, in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been reLeived from branches not visited by us; or the financial slalemenls are not in agreement wi(b the aeeoLinting records and returns; or ccrtain disLlosurcs ot trustccs, rLmunLralion spcciticd by law arL not Inadc,. 4)r we have not received all Ihe intonnation and explanations we require tor our audit; or the trustees were not entitled lo take advantage of the small companies exemptLon from the requirement lo prepare a Strategic Report or in prepdrinby the Reporl of Ihe Trustees. Responsibilities of trustees A5 explained more tul ly in the Statement of. Trustees, Responsibi lities, Ihe trustees (wlio are also the directors ot. the charitable company for the purposes of ColpanY lawl are r¢sponsible for the preparation of the financial statements and for being satisfied thal tliey gTive d true anil fail- view, and for Such internul control as the Trii%tees delerinine 1% nece%%dry lo enable the preparalion ot finanLial stateinenls thai are free from malerial misstdiemenl, wl)eLher due lo frauLI ur error. In preparingi tlie tinancial stateinents, the trustees are responsible tor a5sessingy the charitable company's ability lo coiitinue as a going, concern. disclobing, ab applicable, m1& tterg related to going concern and usii)g Ihe going concern basis ot" accoiiiiling unless the tru%tee% either intend 10 liqiiidate the charitable eompuny or io cea.%e operation%. or lidve no reuli%tic dlterndlive bul to do %0, Page 4
REPORT OF THE JiNDEPENDEiNT AUDJTORS TO THE MEMBERS OF Our responsibilities for the audil of the financial staten]ents Our objectives are lo obtain reabonable asburance about whether the finaiicial statements as a whole are free from material misstateillent, whether du¢ to traud or error, and to Issue a Report ot the Independent Auditors tliat includes our opinion. Reasoiiable assurance is a high level of assiirance, bul is not a guarantee that an aiidil conducted in accordance with ISAS (UK) will always delecl a malL'rial mi%btulLment whLn it LXl%t%. Mit>%tdtcmL'nts Lun arise fruin fraud or Lrror and ure Lun%idercd niutcridl if, individuully or in the aggregate, they could reasoiiably be expected io influence tlie econoTnic decisions of users taken on tlie basis of these fii)ancial 51atemenls. The extent lo which our procedures are capable of deteciing irregularities. including Iraud is detailed below.. We identify and assess the risks ot material misstalement of. Ihe financial stalemenls, whether due lo traud or error, and then design and perform audit procedures responsive to those risks", including obtaining audit evidence that is sulficient and appropriate to provide a ba%1% for our opinion. In idcnlifying and asscssino risks ot" malcri&l misst&tcnicnt in rcspLLI ol" irrcgularitics, iiiLluding fraud and non-Lompliancc with IAWS and regulations, we considered the tollowing: the nature of the industry and sector. control environineni and business perfortnance including the remuneration policies, and its inleniAI and externiil perlornidnce t¢ifgTet%; rL5ulis uf our enquiries of managTL'meni and oiher key persons about (he charity's owii idenii ficaiion and assessnienl of ihe riskg of irregularities, inLluding those that IaY OLLur either as d resiilt ()f fraud or error, and matters we identified from our review of IE]e policies. procediires and interiial eontrols; aiid Ihe maiters discussed among the aiidil engagement team regarding potential indicators of fraud and where it inigbl occur in the finllncidl ¥tdlement%. We also obtaiiied dn underslai)ding of Ihe legal and r¢giilalory fi'aniework tliat tlie Churily operaieb in, fociisitig on prols1On5 ofihose laws and rekyulaiioiis that had a dii-¢ct effect on material arnounts and disclosures li) Ilie Iinancial slal¢n)ents. Tlie key laws and regulalions we considered in Ihis conlexl included the UK Coinpanies Act, pensions and tax legislalion, charity legislaiion logeiher with provi5ivn% ot uther IdWS and re¥ulations that do iiot have a dire¢l et7evt the tindll¢ldl 8lateiMents, bul Lompl iaii¢e with whiLh may be fundamenlal lo the Charily's abilily lo operate or lo avoid a malerial penalty. This included conditions of funding froin various bodies. Froin Ilie above procedures, and in common with all audils under ISAS (U K). we identified the disclosure of adjusting items as a key audit IMatlvr with respeLI to potential risk ol" fruuLI, purtiLularly iii areus where nianagenient i¥ r¥£iuir¢d tu exerLi%e %i¥nifiLunl judgemeni. We tailored our response to Ih05e idenlitied risks lo include enquiringF Ot Inanagrinent concerningr aclual and polenlial litibyation and claims, performing analytical procedures lo identify any unusual or unexpecied relationships that inay indicate ribks of nialerial mi5stutLlllLnt duL to fraud, and fCViLYin¥ LorrL%pundLnLi with HMRC dnd uthLr rLgiildtorv bodiL%. In addressing the risk of fraud Ihroligh management override of controls, Nve tested the appropriateness of jOLirnal entries and other adjustnieiits. assessed hellier the jud&Feiments mad¢ in maki11<7 ac¢ouiitiii&F estirnates are indicative of a potential bias. and evaluated th¢ business ralionale of any significant transactions Ihal are unusual or ouisid¢ the normal courbe of busin¢ss. of which Ilier¢ w¢re nonc. Whilst our engagement team were fully briefed on the frnud risks aiid remaiiied alert lo any indications of fraud or non-compliance with laws and regyulalions througyhout the audit, we draw attention to inlierenl limitations in the scope of audit procedures since fraud, by i18 naliire, may involve deliberate. cone.ealmenl, mAgre.presenlation or colliision. A tUTther description ol. our Tesponsibililie5 for the audit ot the financial statements is located on Ilie Financial Reporling C.ouncil's wtbgiie ai www.frc.org.uklauditotsrespongibilitiets. This degeriplion fonns part of our Report of the Indeptndent Auditors, Page 5
REPORT OF THE JiNDEPENDEiNT AUDJTORS TO THE MEMBERS OF Use of our report This report is made solely to the charitable company's members, ab a body> in aLcordance with Chapter .3 of Part 16 of the Companies Act ?00(Tr. Our audit work has b¢eii uiidertaken so that we misylit state to the cliaritable ¢oinpaiiy's members tliose matter5 M'e are required io stale lo them in an auditors, report and for no other piirpose. To the fullest extent permiiied by law, we do not accepi or a%sumc responsibility to unyonc other thdn thL Lharituble Loillpdny thnd the Lhdritable Lonipuny's InembLr% a% th bod)'I tur OLir aiidit work, for this report. or for the opinions we have fonmed. MICHAEL BARNETT (Senior Statutory Audilor) for and on behalf of Mc.4leer Jackson Lid Chartered Accc)unldnLs & Statutory Auditor C',l)urch House 24 Dublin Road OMAGH Co. Tyrone BT78 IHE 24 June 2023 Page 6
TARA CENTRE STATEMELNT OF FINANCIAL ACTINITIES 'OR'J'HL YE,IR EiYDED 31 MARLH 21)23 2023 Total funds 2022 Total fiinds Unrestricted funds Restricted fund INCOME AND ENDOWMENTS FROLWI Dondtion4 IcguLiL. 57,475 57.475 113,626 Charltllble gctlvltles Bookshop Ruoni Icnt Course subscriptions Charitable projects ServiLe agreements 475 320 12,311 55,442 24,139 475 320 12,311 290,834 24,139 414 ,203 16,156 239,440 20,485 235,392 Other income Total 2,218 2376JO 182 120 419.730 429 480 EXPENDITURE ON Raising funds 79,219 79,219 128,973 Charltable actlvltles Book'shop Rooni rent COue subscriptions Chdritable projecls ServiLe agreen)ents Total 149 429 16,7S4 76,929 149 429 16,754 317,11$7 31.653 446.U61 2,411 2,2Y7 18,767 265,605 240,928 205 1.13 240 928 443213 NET INCOMEI(EXPENDITURE) Transfers beteen funds Iyet movement In funds 12.1.01.3) -3..118) (26,331) (3.318) {26,331 } (13,73.3) 14 {26,331) (13,731) RECOIYCILIATIOLN OF FUNDS Tolal lund% brought forw(Ird 1181,776 8111,776 95,5()9 TOTAL FUNDS CARRIED FORWARD 855 445 881776 The notes fonn parl of iliese finaneial statements Page 7
TARA CEiYfRE (REGISTERED NUMBER: iN1037403) BALANCE SHEET 31 MARCH 2023 2023 2022 Note5 FIXED ASSETS Taiigiible assets 793,881 847294 CURRENT ASSETS Siocks Debtors Lash al bank and in hand 7,186 27,934 202 727 237,847 6.632 27,101 '?65 1139 299,572 CREDITORS Amounts falling due within one year 10 (66.809) 1121.440) LYET CURRENT ASSETS 171,038 178,132 TOTAL ASSETS LESS CURRE4 NT LIABILITIES 964,919 1,025,426 CREDITORS Amounts lalling due after Inore than one year (109,474) {143,650) IYET ASSETS FUNDS Uni'e%lricted fund TOTAL FUNDS 55 445 881776 14 8SS,445 855 445 S8177(1 881776 These financial slaiemenls have been prepared in accordance with the provisions applicable lo charitable coinpanies subjecl 10 the small Lompanie% regiine. The Iinancial stateillenly were approved by the Board ol. Trustees and auihorised tor issue on 24 June 2023 and wer¢ signed on its behaifby.. SdmuLI YoLing - Tru%tLL Anna Harte - Trustee The notes fonn parl of iliese finaneial statements Page 8
TARA CENTRE NOTES TO THE FINANCI.4L ST.4TEIWIENTS 'OR'J'HL YE,IR EiYDED 31 MARLH 21)23 GENERAL INFORMA TION Tara Centre is a eompanv limited by guarantee incorpora(ed in Northern Ireland. The registered oifice of the coinpany is I I HulmvLLW TcrruLL, Omdgh, Co. TyronL. BT79 UAH whiLh ]% ul%0 thL prinLipal plaLc ot bii%inLl%s ol" the Lonipuny. The fiiiancial statements have been presented iii Pound Sterling (£) which is also ihe fuiiclional currency of the company. ACCOUNTING POLICIES Basis of prep#ring Ilie financi#l statements Tlie financial slatenienls ol. the charitable coinpany, wliich is a public benetit enlily under FRS 102, liave been prepared in accordance with ihe Charities SORP (FRS 102) 'ALcounting and Reporting by Charities: Sialetnent of Recommended Practice applicuble to charitie4 prepdrinLT their dccoullT% in aceordunce wilh the Fiiiancial ReportingT Standard applicable in the UK and Republic of ireland {FRS 102} (effective l January 2019}', Fii)ancial Reporting Slandard 102 'The Financial RLPOrting Siundard applicable in tlie UK and RLpublic of Ircland, aiid thL C ompanics Act 2006. ThL finaiieial sldlLmeiits have been prepared under the historical c051 convention. Company status ThL' LC)Inpdny is a compaiiy liinited by guarantee. The Inembers of the company are Ihe Ti'uslees named on page l. Jn the event of the Lompany being wound up, the liability in respeLt of the guarantee is limited to £1 per member of the coJi)pany, Income All iiicoime 1% reco¥ni%ed in Il)e Statement ol. Financial Activities once Ihe churily ha5 enlitlemenl lo the funds, it 1% probable Iliai Ihe incoine will be I'eceived and rlie amouni can be measured reliablj.. Expenditure Liahililies are recognised as expenditure as soon as (here is a legal or conslruciive obligation commilling Ihe charily lo thai expendilLire, il i probable that a transfer ot e¢onoini¢ benefits will be required ill %eltlenienl and the amount vt. the obli¥alion Can b¢ Ine4lSUI'ed I'eliably. Exp¢iidilui'e is accouiiled for on an accruals basis aiid has beeii classified under headiiigs tlial aggregate all LOSI related to Ihe c&tegory. Where costs Lannol be direLily uttributeLI 10 particular headings they have been IIoe¢iled 10 aciivilies on a basis consistent with the use ot. resources. Txngvible fiyed sset5 Depreciation is proi'ided al the following annual rates in order lo write off each asset over its estimated useful life. Freeliold properly Fixturi% and titling% Computer equipineni 20/11 Stroighi line 10,/0 slrdight l inL 250/y slraighl line Tangible assels are staled at cost or al valuation, less accumulated depreciation. Stocks Stocks are valued at Ihe lower of cost and nel realisable value, after making due allowance for obsolete and slow rnoving items. TAx#tlon ThL Lhurily Is CXLInpt from Lorporation tax on it% LliarilablL dLlivitic%. Fund *ccountlDg Unreslricled fund% can be utyed in accor(lance with the charilal)le objectives at the di%crelion of the trustees. Rcstrictcd funds can onl> bc USLd for partlLular rcstriLtcd purposes within the objLLts ot Ilic cliarity. Restrictions arisc whLn specified by the donor or when tunds are raised tor parliculaT Testricted purposes. Page 9 continued..-
TARA CENTRE OTES TO THE FINANCIAL STATETrIENTS - continued 'OR'J'HL YE,IR EiYDED 31 MARLH 21)23 ACCOUNTING POLICIES - continued Fund &ccountlng Fiirthcr explunalion of thc natLirc und puty0, uf euLlI t.und is included in thL nutes to the finttnLiul %laiemLnL%. Penslon costs lld other post-retlrement benefits The ¢harilabl¢ coimpany operates a defined contribution pension 5cheine. Contributions payable to the charitable company'5 pension sclieme are charged lo the Statemei)i of Financial Activities in the period lo which they relate. Debtor5 and creditors refeivableipayable within one year Debtors and creditors with no slated interest rate and reLeivable or payable within one year are recorded al transactional price. Any10%4es arising, fi-oin impainnent are recogyiiised iii tlie Statement ot"Financial activities in other trading actii'ities Going Coneern Tlie tinancial stalemenls liave been prepared on the going concern basis, which assumes tlial the company M'ill continue i operational existenc¢ for th¢ fores¢eabl¢ flIre. The validity of this assumption dep¢iids on future revenLl¢ funding meeting tulure revenue expenditure. Grants receivable Capital L?raiils received and receivable are treated as deterred iiicome aiid amortised to the Suinimary Incoine and Expenditur¢ Account annually over ihe iiseful economic life of the asset to which it relaies. When the possibility of clawback is remoie dnd in the inlere%l% of. dCLurately 4luling the compdnv's liabilitie%, the director% Thdy con%idei' il approDfidle io releu%e all or pari of Ihe remaining grani 10 Tlie incoine slaienieni. Revenue granis are crediied 10 ihe Summary Iiicome and Expendiiui'e Account when TeLeived. NET INCOMEI{EXPENDITURE) Net incomellexpendilurel is stated after chargintylcrediling}:_ 2023 2022 DepreLiution Foreign exchange (surplus)Ideficit Auditor's remuneratioii Amorlisation of grant 54.271 (331) 5,10 34 176) 54.563 513 4,980 34156) TRUSTEESt REMUNERATION AND BENEFITS There were no Iriislees, remuneration or oiher benefits for Ilie year ended 3 l March 202.1 nor for the year ended 31 March 2022. Trustee5' expenses ThLfL werL no trustCCS' Lxpenscs paid tor thL yc&r cndL.d 31 MarLh 2023 nor for the ycar Lndcd 31 March 20?2, P¥AEe l O continued..-
TARA CENTRE OTES TO THE FINANCIAL STATETrIENTS - continued 'OR'J'HL YE,IR EiYDED 31 MARLH 21)23 STAFF COSTS The aN'erage monthly number of einployees during Ilie year was as follo'S.. 2023 14 2022 10 Support No eLnployees received emolumeLils in excess of£60,000. COMPARATJVES FOR THE STATEMENT OF FINAINCIAL ACTIVITIES UnrestriLled tuiid5 RestriLled fund Total tunds INCOME AND ENDOIVMENTS FROM Donations and legacies 5.3,772 59.854 113,626 Charitable 4ctivities Bookshop Roorn runt Course 5ub5criptions Charitable projects Service agyreemei)Is 414 1,203 16,156 94,0.14 20,485 414 1,203 16,156 219,440 20,4R5 145,406 Oilier inLonic Tutal 15,938 222 002 .218 207 478 429,480 EXPENDITURE ON Roisiiig funds 69.119 59,854 128,973 Charltable aetlvltles Bookshop Rooin relit Course subsLriptions Charitable projecis Service agreernenls Total 2,411 2,297 18,767 17,981 2,411 2,297 18,767 265,605 147.624 275 735 207 478 443213 NET INCOMEI(EXPENDITURE) (13,733) (13,733) RECOLYCILIATION OF FUNDS Total flinds brought forw&ird g95,509 895,509 TOTAL FUNDS CARRIED FORWARD 881776 Xxl 776 P¥AEe I I continued..-
TARA CENTRE OTES TO THE FINANCIAL STATETrIENTS - continued 'OR'J'HL YE,IR EiYDED 31 MARLH 21)23 TANGIBLE FIXED ASSETS Fixtures and fitting% Freehold property Computer equipincnt TL)lul COST Ai l April 2022 Addition% Ai 31 Mareh ?U23 DEPRECIATION Ai J April 2022 Char&)e for year Ai 31 March 2023 NET BOOK V.4LUE Ai 31 MarLh 2023 Al .1 l Marcli 2022 2,.162,486 274,491 58,837 858 2,69S,814 858 2,696,672 2,362.4116 274.491 1,547.325 246,276 54,919 1,848,5211 54,271 1902 791 1594 575 250 795 57.421 767911 815 161 793 881 847 294 Om'nershlp of Bulldlng Tlie deedb of the property al Holmview Terrace, Olllagrh are r¢&vi5tered iii tlie nameè* of Tlie Uiiion of, Presentation Sisters (Northern Province) and The C'ongregation of Sisters of MerLy (Northern Proi'ince) joinily as tenants in iommon. Tara CcntrL has full u%c of tliL prcini4L.s foi. a nojkninal rciil of £1 pLr antium. Tara Centre hab been granted leases by the IrLislees of the Con¥enls. The leases dated 17 April 2002 are for 20 yearb froin 13 October 2000 iii respect of. Pha¥e% l aiid 11. An exteiiNiDn to the lea.%es lor Phases 1. 11 & 111 wa.s executed 011 27 ,luly 2006 tnr a p¢riod of20 years aiid ¢xpir¢s on 12 0clob¢r 2026. Thes¢ r¢pla¢¢ all ¢91 rli¢r l¢as¢s. MortgageslCharge5 The Northern Irelund C.oinmunily Relation% Council hold4 un illl monie4 deed ()f niorl¥ugelchurge created on 29 Muy 2007 oier lands al No l O & I l Holinview Terrace Oiiiagli: Naiional Lolter), Chariiies B061rd holds a legal charge created 011 4 April ?007 ovL'r I l HolmviLW TLrraLL Om<i¥h: ThL OtTiLL uf IhL First Mini5tLr and DLPUty First MiiiistLr holds dn all moniL debenlure created on 27 July 2n06 over lai)ds at the rear ot 9,1 n aiid I l Holmview Terrace Oinagvh and the National Lottery Chdrilies Board holds a mortgage created on l May 2002 over property al Holmview Terrdce Omdb?li. STOCKS 2023 2022 StOLks P¥AEe 12 continued..-
TARA CENTRE OTES TO THE FINANCIAL STATETrIENTS - continued 'OR'J'HL YE,IR EiYDED 31 MARLH 21)23 DEBTORS: AMOUNTS FALLINC DUE WITHIN ONE YEAR 2023 2022 TrddL debtors Other debtors Prepayments 15,469 4,369 17.295 4.207 io. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 21123 2022 Bank loans and oi'erdrafts (see note 12) Social liecurily and other taxe Accrued expenses 35 3,471 5,fi24 61.185 CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YE.4R 2023 2022 CAPITAL GIL41YTS RECEIVED Al l April 2022 Increase in fiilancial year Ai 31 Marcli 20?3 AMORTISATION At l April 2022 Aniorfi%L,d in finanLiuI yL'ar Al 31 M61rcl) 2023 NET BOOK V.4LUE 1,999,253 1,995,365 3,888 1999 253 1999 253 1,8S5,603 1,821.447 34.156 1855 (3 l 889 779 Al 31 March 21123 1119 474 143 ()50 Al l April 2022 143 650 173918 P¥AEe 13 continued..-
TARA CENTRE OTES TO THE FINANCIAL STATETrIENTS - continued 'OR'J'HL YE,IR EiYDED 31 MARLH 21)23 12. LOA]¥4S An analysis of ihe malurity of loanb LS gjven below.. 2023 2022 Ainounts falling, due within one year on demand: Bank overdrafts 35 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 21123 Total funds. 2022 Tolal funds Unreslricled funds Restricled fund Fixed assets Currenl assets Curreiil liabililiL Lon8 terni liabilities 793,11111 237,847 {66.R09) 109 4741 85$ 445 793,1181 237,847 {66,809) 109 474) 855 445 847.294 299,572 (121,440) 143.650) 881776 14. MOVEMENT IN FUNDS Nel movement in nd Transfers between fund.¥ Al 31.3.23 At 1.4.22 Unrestricled funds Unreslricled Funds 881,776 (23.013) (3J18) 855,445 Restricted funds RL%lriLILd Fund (3J18) 3J18 TOTAL FUNDS 881776 26 855 445 Net movement in funds, included in the above are as follows.. Incoining resourLes Resources expended Movemeni in funds Unrestrlc¢ed funds Unrestri¢ted Funds 182,120 (205,133) (23,013) RestriLted funds Reslricled Funds 237,610 (240,928) {3J18) TOTAL FUIYDS 419 730 446061) P¥AEe 14 continued..-
TARA CENTRE OTES TO THE FINANCIAL STATETrIENTS - continued 'OR'J'HL YE,IR EiYDED 31 MARLH 21)23 14. MOVEMENT IN FUNDS - continued Comparxtlves for movement fin funds Net movement iii funds Ai 31.3.22 At 1.4.21 Uiire%lri¢l¢d lunds Unreslricled Funds 895.509 (13,733) 881,776 TOTAL FUNDS 895 509 13 7.31) 881776 Coinparative nel Inovenicnt in tunds, included in the above are &5 tollow5.' Inc'oming resources ResourL'e% expended Movement in funds Unrestricted funds Unresiricled Fui)ds 222.002 (215,735) (17.733) Restricted funds Ile&lricted kiinds 2U7,4714 (2U7,478) TOTAL FUNDS 429 480 443 213) 13 733) RELATED PARTY DISCLOSURES There were no related party transactions for Ilie year ended .31 Marcli 2023. Page 15
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