REGISTERED COMPANY NUMBER: N1037403 (Northern Ireland) REGISTERED CHARITY NUMBER: 103397 REPORT OF THE TRUSTEES AND ANCIA T ATEME] FOR THE YEAR ENDED 31. M.ARCH 202 FOR TARA ENTRE 11 AE6CG140 0810712025 COMPANIES HOUSE M¢Aleer Jackson Ltd Chartered Accountants & Statutory Auditors Church House 24 Dublin Road OMAGH Co. Tyrone BT78 IHE
TARA CENT CONTENYS OF THE FINANCIAL STATEMENTS FOR THE VEAR ENDED 31 MARCH 2025 PaR¢ Reference and Administrative Detsils Report of the Trustees Report of the Independent Auditors 5 to 8 Statement of Flnancial Activities Bglgnce Sheet 10 C*sh Flow StAtement Notes to the Cash Flow Statement 12 Notes to the FinanciAI Statements 13 to 23
TAIL4 CENTRE REFERENCE AND ADMtMSTRATIVE DETAILS FOR THE YEAR ENDED 31 MARCH 1025 TRUSTEES Hugo Swceney Anna Harte Samuel Young Mary Friel Tara Boyle John Slane Noreen McGirr Mary O'Reilly COMPANY SECRETARY Mary Friel REGISTERED OFFICE I l Holmview Terrace Omagh Co, Tyrone BT79 OAH REGISTERED CON(PANY NUMBER N1037403 (Northern Ireland) REGISTERED CHARITY NUMBER 103397 A17DITORS McAleer Jackson Ltd Chartered Accountants & Statutory Auditors Church House 24 Dublin Road OMAGH Co. Tyrone BT78 1 HE BAfKKERS 2-4 East Bridge Street Eniiiski Ilen Co. Fermanagh BT74 7BT Page I
TARA CEiYfRE REFERENCE AND ADMINISTRATIVE DETAJLS FOR THE YEAR ENDED 31 MARCH 2025 SOLICITORS Mcconnell and Fyfft The Old Reciory 21 Church Street OMAGH Co Tyrone BT78 IDG Lewis Silkin (N.1.) LLP 32-38 Linenhall Streei BELFAST BT2 8BG Edwards & Co. Solicitors 28 Hill Streel BELFAST BTI 2LA Page 2
TA]L4 CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 TrL4RCH 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their a¢¢ounts in a¢cordan¢e with the Financial Rewrting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2019), STRATEGIC REPORT STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng document The Charity is controlled by its governing document, a deed of trust, and constitutes a limited company. lirnited by guarant¢¢, as defined by the Companies AGt 2006. EVENTS SINCE THE EfKD OF TH.E YEAR Infomiation relating to events sincz the end of the year 15 given in the notes to the financial slatements. STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who arc also the direcr$ of Tara Centre for the purposes of company law) are responsible for preparing the Report of the Tru51ees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢¢epted A¢Gounting Pra¢ti¢e)- Company law requires the trustees 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 those financial statements, the trus*eA are required to select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charity SORP. make judgements and eslimatcs that are reasonable and prudent- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statemenls; prepare the financial statement5 on the going nCern basis unless it is inappropriate to presume thai the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply witli tlie 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. In so far as the trnstees are aware: there is no relevant audit infomation of which the charitable company's auditors are unaware. and the trustees have taken all steps that they ought to have tsken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that infoThation. AUDITORS The auditors, McAleer Jackson Ltd, will be proposed for re-appointment at the forthcoming Annual General Mccting. Page 3
TATLI CENTRE REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 IVIARCH 2025 Report of the trustees. incorporating a strategic reporL approved by order of the board of trustees, as the company directors, on 24 June 2025 and signed on the board's behalf by.. Mary Friel - Trustee Page 4
REPORT OF THE INDEPENDENT AUDtTORS TO THE TRUSTEES AND MEMBERS OF TARA CENTRE Opinion We have audited the financial statements of Tara Centre (the 'charitable company,) for the year ended 31 March 2025 which comprise the Statement of Financial Activities. the Balan¢e SheeL the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework thai ha5 been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Aeeepted Accounting Practice). In our opinion the financial sLqtements: give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then have been properly prepared in a¢cordance with United Kingdom Generally Accepted Accountin8 Practice. and have been prepared in accordancz with the requirements of the Companies Act 2006. Bgsls for oplnlo We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors, responsibilities for the audit of the financial ststements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, includin8 the FRC'S Ethical Siandard. and we have fulfilled our other cthical responsibilities in accordance with these requirements. We believe tliat the audit evidence wc have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusion$ relating to going concern In auditing the financial staiements, we have concluded that the trustees, use of the going concern basi5 of accounting in the preparation of the financial statements 15 appropriate. Based on the work we have performed, we have not idcnlified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilitics and the responsibilities of the trUSS with respect ¢0 going concern are described in the relevant sections of this report. Other Information The trustees are responsible for the other information. The other information comprises the informaiion included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon. Our opinion on the financial ststements does not cover the other infomiation and, except to the extent otherwise explititly stated in our report, we do not express any fom of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and. in doing 50, Gon5ider whether the other information is materially inconsistent with the financial ststcments or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material mi55tatement of this other infonnation, we are required to report that fact. We have nothing to report in this regard. Page 5
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS TARA CENTRE Opinions on other mAtters preseribed by the Companies Act 2006 In our opinion. based on the work undertaken in the course of the audit: the informatiori given in the Report of the Trustees for the financial year for which the financial sLqtements are prepared is consistent with the financial statements. and the Report of the Trustees has been prepared in accordance with applicable legal requirements. Matters on whieh wt Are required to report by exception In the light of the knowledge and understanding of the charitsble company and its environment obtsined in the course of the audit, we have not identified material misstatements in the Report of the Trustees. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept or returns adequate for our audit have not been received from branches nol visited by us. or the financial ststements are noi in agreemenl With the aeeounting records and returns. or certain disclosures of ¢wslees' remuneration specified by law are not made: or we have not received all the infomiation and explanations we requir¢ for our audit, Respon$ibili¢ie$ of ¢rus¢ee$ A5 explained more fully in the Ststemcnl of Tru5tee5' Responsibililie5, the trustres (who are also the directors of Ihe charitable comparby for the purpos¢s of company law) arc responsible for the preparation of the financial statcmcnts and for being satisfied that they give a true and fair view, and for sueh internal ¢ontrol as the trustees determine is ne¢essary lo enable the pr¢paration of financial $12tements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charitsble company, ability lo continue as a going concem. disclosing, &$ applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitsble company or io cease operations, or have no realistic alternative but lo do so. Page 6
REPORT OF THE IfsDEPENDENT AUDJTORS TO THE TRUSTEES AND MEMBERS OF TARA CENTRE Our responsibilities for the gudit of the financial statements Our objectives arc to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Audiiors that includes our opinion. Reasonable assurance is a high level of assurance, but is noi a guarantee ihat an audit conducted in accordance with ISAS (UK) will always detect a material misstamenl when it exists. Misslatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users LAken on the basis of these financial statements. Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leadin8 to a material misstatement in the financial statements or non-compliance with regulaiion. Thi5 risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial ststements, as we will be less likely to become aware of in5tanc£s of non-complion¢e. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves inlenlional concealment, forgery, collusion, omission or misrepresentalion. Irregularities, including fraud, are instances of non-compliBnce with laws and regulations. We design procedures in line with our responsibilities, ouilined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are Capable of decting irregularities. includin8 fraud is detailed below.. We obtained an undcrsianding of the legal and regulalory framework that the Charity operatC5 in, focusing on provisions of those laws and regulations that had a direct effect on material amounts and disclosures in the financial staiements. The key laws and regulations we considered in this context included the UK Companies Act. pensions and tax legislation. charity legislation together with provisions of other laws and regulations that do not have a direc( effecl on the financial statements. bul Gompliance with which may be fundamental lo lhe Charity's ability 10 operate or to avoid a material penalty. This included condilions of funding from various bodies. We Lqilored our response to those identified risks to include enquiring of managcmcnt concerning actual and potential litigation and claims. perfomiing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud, and reviewing correspondence with HMRC and other re8ulatory bodies. In addressing the risk of fraud through management override of controls, we tested the appropriateness of journal enti'ies and other adjustments.. assessed whether the judgements made in making a¢¢ountin8 estimates are indicative of a potential bias. and evaluated the business rationale of any significant transactions that are unusual or outside the nomial course of business. of which there were none. In identifying and assessing risks of material misstatement in rcspcct of irregularities, including fraud and non-complian with laws and regulations, we considered the following- the nature of the industry and sector, control environment and business performance including the remuneration policies, and its internal and external performance targets- results of our enquiries of management and other key persons about the charity's own identification and assessment of the risks of irregularities. including those that may occur either as a result of fraud or C0[, and matters we identified from our review of the policies, procedures and internal controls; and the matters discussed among the audit engagement team regarding potential indicators of fraud and where it might eur in the financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.or8.uklauditorsresponsibilities. This description fomis part of our Report of the Independent Auditors. Page 7
REPORT OF THE INDEPENDENT AUDITORS TO THE TRUSTEES AND MEMBERS OF TAIi4 CENTRE Use of our report This report is made solely to the charitable company's members. as a body, in accordance with Chapter 3 of Part 16 of ihe Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's rnembers those matters we are required to state ¢0 them in an auditors, report and for no other purpose. To the fijllest extent pemiitted by law, wc do not accept or assume responsibility to anyone other than the charitable company and the charitable company's membcrs as a body, for our audit work, for (his report, or for the opinions we have fom)ed. F4JJEK MICHAEL BARNETh (Senior Ststulory Auditor) for and on behalf of McAleer Jackson Ltd Chartered Accountants & Statutory Auditors Church House 24 Dublin Road OMAGH Co. Tyrone BT78 IHE 24 June 2025 Page 8
TARA CENTRE STATEMENT OF FINANCIAL ACTTVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total nd5 Unrcstricted Restricted funds fund No tNCOME AND ENDOWMEKfs FROM Donations and l¢ga¢ies 56,436 56,436 86,078 Charitable gttivities Bookshop Room rent Cour5c subscriptions ChariLible projects Service agreemenls 868 3.855 19,255 297,808 19a38 313 400 11,962 373.901 27,232 3,855 19.255 100.367 A9,338 197,441 Other income Total 268 204 479 534 062 EXPENDITURE ON Raising funds 90,91J) 90,900 117,519 Charitable actlvities Bookshop Room rent Course subscriptions Charitable projects Service agreemenls 3,090 6,099 30,462 J66,208 29 3,090 6,099 30,462 363,341 175 740 15,784 384,023 197,133 Total 326 147 197 133 523 280 NET TNCOMEI{EXPENDITURE) Transfers between funds (57,770) 7,346 {50,424) (17,944) Ne¢ movement in funds (50,424) (50,424) (17,944) RECONCILI.A TION OF FUNDS Total funds brought forward 837,50J 837,501 855,445 TOTAL FUNDS CARRIED FORWARD 787 077 787 077 837 501 The notes form part of these financial statements Page 9
TARA CENTRE BALANCE SHEET 31 MARCH 2025 2025 2024 Notes FIXED ASSETS Tangible assets 689,173 740,851 CURRENT ASSETS Stocks Debtors Cash at bank and in hand 12 13 4,544 20,998 105 159 6,645 41,902 142 896 130,701 191,443 CREDITORS Amounts falling due within one year 14 (32,797) (19.497) NET CURRENT ASSETS 171946 TOTAL ASSETS LESS CURRENT LIABILITLES 787,077 912.797 CREDITORS Amounis falling due after more than one year (75,296) NET ASSETS 787 077 837 501 18 Unrestricted funds 787 077 837501 TOTAL FUNDS 787 077 837501 The financial statements were approved by the Board of Trustees and authorised for issue on 24 June 2025 and were signed on its behalf by.. Samuel Young - rustee Anna Harte - Trustee The notes fomi part of these financial statements Page 10
TARA CENTRE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from operating activities Cash generated from operations Intrresi paid (35,810) (56,901) Net cash used in operating activities 38 120) Cash flow5 from InvtIng 4c¢lvltles Purchase of tsngible fixed assets Net cash provided by/{used in) investing activities Change in cash and cash equivalents in the reporting period Cash and Cash equivolents at the b¢glnnlng of the reporting period {38,120) (60,395) 142 332 202 727 Cash and ta$h tquivalents at the end of the repOrtig period 104 212 142 332 The notes form part of these financial statements Pagell
TARA CENTRE NOTES TO TUE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 IVIARCH 2025 RECONCILIATION OF NET EXPENDrruRE TO NET CASH FLOW FROM OPERATING ACTIVITIES 2025 2024 Net expenditure for the reporting period (*s per the Statement of Financial Activities) Adjustments for: Depreciaiion ¢har8es Interest paid Grants released Decrease in stocks Decrease/(incre&8e) in debtors Incr¢asel(de¢reas¢) in creditors (50,424) (17,944) 51,678 2JlO (75296) 2,JOI 20,904 12 53,808 2.716 (34.177) 541 (13.968) Ne¢ c95h u$¢d In operatlons 35 810) 56901) ANALYSIS OF CASH AND CASH EQUIVALENTS 202S 2024 Cash in hand NoliGe deposils {less than 3 months) Overdrafts included in bank loans and overdrafts falling due within one year 625 104,534 142,705 Total cash and cash equivalents 104 212 142332 ANALYSIS OF CHANGES tN NET FUNDS Al 1.4.24 Cash flow At 3J.3.25 Net cgsh Cash al bank and in hand Bank overdraft 141896 564 (37,737) 383 105.159 J42 104 Total 142J32 38,120 J04,212 The notes form part of thcsc financial Statements Pagc 12
TARA CENTRE NOTES TO THE FINANCL4L STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 GENERAL INFORMATION Tara Centre is a company limited by guarantee incorporated in Northern treland. The registered office of the company is I l Holmview Terrace, Omagh, Co. Tyrone. BT79 OAH which is also the principal place of business of the company. The financial statements have been presented in Pound Sterlin8 (£) which is also the functional currency of the company. ACCOUKTING POLICIES Basis of preparing the financial statements The financial statements of the charitable company, which is A public bcnefit entity under FRS 102, havc been prepared in accordance with the Charilies SORP (FRS 102) 'A¢couniing and Reporting by Charitics.. Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective l January 2019),, Financial Reporling Standard 102 'Th¢ Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companie5 Act 2006. The financial statements have been prepared under the historical cost convention. The financial statements are prepared in pound 5terlin8 which is the functional Currency of the company. Company status The company is a company limited by guarantee. In the event of the company bein8 wound up, the liabiliry in respect of the guarantee is limited to £1 per member of the company. ncome All income is reeognised in the Statement of Financial Activitics once the charity has entitlement to the funds. it is probable that the income will be received and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it 15 probable that a transfer of economic benefits will be rcquired in 5ettlciment and the amounl of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attribu*d 10 particular headings they have been allocated to activities on a basis consistent with the use of resources. Support Costs Allocatlon Support costs are those that assist the work of the charity but do not directly Tcprcsent charithble activities, such as office costs, administrative payroll. They are incurred directly in 5UPPOrt of expenditure on the objects of the charity. Where support costs incurred cannot be directly attributed to particular headin85 th¢y have been allocatrd to all the activit1¢5 on pro rata basi5 in relation to sour¢¢s of income. Tangible filed assets Depreciation is provided at the following annual rates in order to write off each a&set over its estimated useful lift. Freehold property Fixtures and fittings Computer equipment 20/0 straight line I 00/0 Straight line 25 % strnight line Page 13 continued...
CEKfRE NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES - contimued T9nglble fixed asse¢s Tangible fixed assets are stated at Cost or Valuatio net of deweciation and any provisions for impairment. Stocks Stocks arc valued at the lower of cost and net realisable value, after making duc allowance for obsolete and slow moving items. TaxatlOD The charity is exempt from corporation t&Y on its chaTitable activities. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when fund5 are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is in¢luded in the notes io the financial ststements. Penslon co$t$ 2nd other pos¢-retlremen¢ benefits The charitable company operates a defined contribution pension scheme. Contributions payable lo the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate. Debtors and credltors recelvablelpayabl¢ wllhln one ye4r Debiors and creditors with no stated interest rate and re¢eivabl¢ or payable within one year Are recorded at transactional price. Any losscs arising from impairment a re<xJgnised in the Statement of Financial activities in other trading activities Going concern The financial statements have been prepared on the going concern basis. which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on future revenue funding meeting future revenue expenditure. In respons¢ 10 the challenging funding environment that exists, the trustees have prepared financial projections of in¢ome and expenditure to assess the financial resources available to the charity for the next twelve month5. On the basis of those projections the trustees are satisfied the assumption of going Concern is appropriate. In addition lh¢ charity has a number of pending funding applications that are not reflected in the financial projections and, whilst not certain, the trustees are confident that the charity will be successful in securing fllre revenue through a number of those applications. Page 14 continued...
TARA CENTRE NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 AccouNrtNG POLICIES - continued Grants receivable Capitsl grants received and receivable arc treated as deferred income and amortised to the Summary Income and Expenditure Account annually over the useful economic life of the asset to which it relates. When the possibility of clawback is remote and in the intrrests of accurately stating the Company's liabilities, the directors may consider it appropriate to release all or part of the remaining grant to the income statement. Revenue grants are credited to the Summary Income and Expenditure Account when received. DONA TIONS AND LEGACIES 202S 2024 Donations INCOME FROM CHARITA.BLE ACTIVITIES Grants received, included in the above are as follows.. 2025 2024 Bookshop Room rent Course subscriptions Charitable projects Service agreements 868 3,855 19.255 297,808 313 400 11.962 373.901 341 124 413 808 Grants received, included in the above are as follows.. 2025 2024 vss MHSF National tA)ttery Fund Unrestricted grants J35,972 61,470 126.282 176,990 10,000 100 367 297 808 373 901 Page 15 continued...
TA114 CENTRE NOTES TO THE FTNANCIAL sTATEmEs - conlinued FOR THE YEAR ENDED 31 MARCH 2025 RAlStNG FUNDS 2025 2024 Wages Insurance Rates & water Repairs & maintenance Computer support Light and heat Telephone 47,258 1226 58,086 703 362 6,242 783 409 70 3,925 1,025 974 652 L il Postage and stationery General expenses Depreciation Catering Professional & consultan¢y Tutors Auditors remuneration Complementary therapy Surplus / deficit on exchange Interest payable and similar charges 2,340 305 13,948 4,777 8,979 2,129 2,132 264 358 608 3,080 458 23,796 9,029 5,425 2,491 3,321 309 1,765 117519 CHARITABLE ACTTVITTES COSTS Direct Costs Bookshop Room rent Course subscriptions Charitable projects Service agrccments 3,090 6,099 30,462 363,341 29 Page 16 continued...
TARA CENTRE TES TO THE FtNANCIAL STATEMENfs - contlnue FOR THE VEAR ENDED 31 MARCH 2025 NET INCOMEI(EXPENDITURE) Net irtcomel(expenditure) is stated after charging/(crediting):. 2025 2024 Depreciation Foreign exchange (surplus)Ideficit Auditor's remuneralion Amortisation of grants 51,678 358 7J60 75 296) 53,808 ,765 7,200 34 176) TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for thc year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees, ¢xptnse$ There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024. STAFF COSTS 2025 2024 Wages & salaries 296 328 368 328 368 The average monthly number of employees during the year was as follows.. 2025 14 2024 16 Support No employees received emolurnents in cxcc5s of £60,000. Page 17 continued...
TARA CENTRE NOTES TO TFTE FTNANCIAL STATElENTs - contlnued FOR THE YEAR ENDED 31 MARCH 202S 10. COMPARATIVES FOR THE STATEMENT OF FTNANCIAL ACTtvrrIES Unrestricted Restricted funds fund Total funds INCOME AND ENDOwmEs FROM Donations and legacies 86,078 86.078 Charitable activities Bookshop Room rent Course subscriptions Charitable projeets Service agreements 313 400 11,962 60,628 27,232 313 400 11,962 373,901 27,232 313,273 Other InMe Totsl 218571 315 491 EXPENDITURE ON Raising fi]nds 117,519 117,519 Charitable activiti¢$ Bookshop Room rent Course subscriptions Charitable projects Service agreement5 175 740 15.784 80,718 175 740 15.784 384,023 303.305 Totsl 248 701 303 305 552 006 NET TNCOMEI(EXPENDITURE) TrAnsfers between funds (30,130) 12,186 12 186) {17,944) Net movement in funds (17,944) (17,944) RECONCTLIATtON OF FUNDS Total funds brought forward 855,445 855,445 TOTAL FUNDS CARiUED FORWARD 837 501 837501 Page E8 continued...
TARA CEiYfRE TES TO THE FINANCIAL sTATEmES- continued FOR THE YEAR ENDED 31 MARCH 2025 11. TANGIBLE FIXED ASSETS Fixtures and rittings Freehold prop¢rty Computer equipment Totsls COST At l April 2024 and 31 March 2025 2J62.486 274,491 2 697 450 DEPRECIATION At l April 2024 Charge for year 1,641,825 255J14 59,460 409 1,956,599 At 31 March 2025 1689 075 259J33 59 869 277 NET BOOK VALUE At 31 March 2025 673411 604 689 173 At 31 March 2024 720661 740 851 Ownership of Building The deeds of the property at Holmview Terrace. Omagh are re8iStered in the names of The Union of Presentstion Sisiers (Northern Province) and The Congregation of Sisters of Mercy (Northern Province) jointly as tenants in common. Tara Centre has ful l use of the premises for a nominal rent of £1 per annum. Tara Centre has been granted leases by the trustees of the Convents. The leases dated 17 April 2002 are for 20 years from 13 October 2000 in respect of Phases l and U. An extension to the leases for Phases I, 11 & 111 was exeGuted on 27 July 2006 for a period of 20 years and expires on 12 October 2026. These replace all earlier leases. 12. STOCKS 2025 2024 Stocks Page 19 continued...
TARA CENTRE NOTES TO THE FTNANCIAL STA TEMENTS - continued R THE YEAR ARCH 2025 13. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Other debtors Prepayments 8,453 4,.121 12.659 20,408 41.902 14. CREDITORS: AMourS FALLING DUE WITHtN ONE YEAR 2025 2024 Bank loans and overdrafts (see note 16) Trade crcdilor5 Social security and other LeS Accrued expenses 947 14,780 4,195 564 5,985 4.841 15. CREDITORS: AMOUNTS FALLtNG DUE AFTER MORE THAN ONE YEAR 2025 2024 CAPITAL GRANTS RECEIVED Ai l April 2024 Released of obligations 1,999,253 1999 253 1.999,253 At 31 March 2025 1999 253 AMORTISATION At l April 2024 Amortised irt financial year Balance amortised Released of obligations 1,855,603 (32,556) (42,739) J 780,308 1,889,779 (34,176) At 31 Mar¢h 2025 1855 603 NET BOOK VALUE At 31 M8r¢h 2025 At l April 2024 109474 Page 20 continued...
TARA CENTR NOTES TO THE FANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MAR H 2025 16. LOANS An analysis of the maturity of loans is given below: 2025 2024 Amounts falling due within one year on demand.. Bank overdrafts 947 564 17. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2025 Total fiinds 2024 Total fiinds Unrestricted Restricted funds fund Fixed assets Current assets Current liabilities Lon8 temi liabilities 689,173 130,701 (32,797) 689,173 130,701 (32.797) 740,851 191.443 (19,497) 75 296) 787,077 787 077 837 501 18. MOVEMENT tN FUNDS Net movement in funds Transfers between funds At 31.3.25 At 1.4.24 Unre$tri¢¢ed fynds Unrestricted Funds 837,$01 {S7,770) 7J46 787,077 Restricted funds Restricted Funds 7?46 (7,346) TOTAL FUNDS 50 424) 787 077 Net movement in funds. included in the above are as follows: Incoming resources Resources expended Movement in fijnds Unrestrict¢d funds Unrestricted Fund5 268J77 (326,14T) (57,770) Restricted funds Restricted Funds 204,479 (197,133) 7J46 TOTAL FUNDS 472 856 523 280 50 424) Page21 continued...
TARA CENTRE NOTES TO THE FINANCIAL STATEMENTS - eontinued FOR THE YEAR ENDED 31 MARCH 2025 I& MOvEmEr FUNDS- continued Comparativts for movement in funds Net movement in funds Transfers between funds At 31.3.24 At 1 .4.23 Unre$tritted funds Unrestrictcd Funds 855.445 (30,130) 12,186 837.501 Re5trlcted funds Restricted Funds 12,186 {12.186) TOTAL FUNDS 17944) 837 501 Comparative net Movement in funds, included in the above are as follows.. Incoming reSoUrS Resources expcndcd Movement in funds Unregtrl¢ted funds Unrestri¢*d Funds 218,571 (248,701) (30,130) Restricted fund$ Restricted Funds 315,491 (303,305) 12,186 TOTAL FUNDS 534 062 552,006 19. CONTINGENT LI.ABtLrriES There is a Contingent liability to repay all grant monies should they not be distributed under the terms of the various initiative5. The trustees do not anticipate any repayment falling due under the tems on whi¢h grants were received. Page 22 continued...
TARA CENTRE NOTES TO THE FINANCIAL sTATE[s - continued FOR THE YEAR ENDED 31 MARCH 2025 20. RELATED PARTY DIScSUEs There were no related party transaclions for the year ended 3 1 March 2025. 21. POST BALANCE SHEET EVENTS Ownership of Building During the year legal work commenced to transfer the freehold interest of the property at Holmview Terrace, Omagh from The Union of Presentation Sisters (Northem Provinee) and The Congregation of Sisters of Mercy (Northern Province) to Tara Centre. It is due to be Gomplcted shortly. Page 23