Company Number: N1602912 Charity Number: NIC103641 An Clste InTheistiochta Gaeilge (A Company Llmltcd by Guarantco) Finaneial St#t¢ment$ for tlie year ended 31 August 2023 An Ciste Infiheistiochta Gaeilge (A Company Limitcd by Guarantee) Contents Pag¢ Infomiatioii Directors, Report ndependent Auditoi's Rcport 6-10 Staleineiit of Fill￿]Cial Activities 11 Balaiice slicet 12 Casliflow statement 13 Notes to tlie accounts 14-21 An Ciste Inlheistiochta Gaeilge (A Company Limited by Guarantee) Information Registered Charity Name An Ciste Intheistiochta Gaeilge Charlty Number NIC103641 XG26311 Company Number N1602912 Registered Ofllce Culturlann Ul Chanain 37 Great Jaines Street Derry BT48 7DF Directors Maria Caraher Rosaleeii Mccorley Laureiice Mccurry Professor Margaret Dolores O'Reilly Niall O Cathain paid O Maolagain Auditors McGroarty McCaff¢rty & Company Accountants & Registered Auditors 2 Carlisle Terrace Derry BT48 6JX Solicitors Agnew Andress Higgins Solicitors Ltd 92 High Street Belfast BTI 2BG Bankers Bank of Ireland 27 Culmore Road Derry BT48 8JB Page I An Ciste Intheistiochta GaeiIge (A Company Limited by Guarantee) Report of the directors for the year ended 31 August 2023 The directors present their report and the financial statem¢nts for the year end¢d 31 August 2023. The directors of An Ciste Inflieistiochta Gaeilge for tlie purposes of compaiiy law and who served during the year and up to the date of this report are set out below: Maria Caralier Rosaleeii Mccorley Laurence Mccurry Professor Margarct Dolores O'Reilly Niall O Calhain paid O Maolagain Structure, Governance and Manvdgemcnt Governing do¢umcnt Tlie charity is conti'olled by its governing documenl the financial memorandum, and constitutes a limited company) limited by guai'£tntee, as defiiied by the Coinpaiiies Act 2006, GovernAnco Tlie Board is a liinited CoMp￿]Y regulated by its Memorandum and Articles of Association as laid down in the Coinpanies Acts. This inslrument is a legal document wliich has bearing only on An Ciste Intheistiochta Gaeilge. Ali Ciste liiflieistioclita Gaeilge (Th¢ Irish Language Investment Fund) is an organisation that h&s been established to assist the developinent of Irish Language cominunities; in particular, the Fund's role is to help advaiice major capital iiifrastructui-al projects whioh ultimately assist the social, economic and cultural needs of Irish Languag¢ coinInuiiities. Tli¢ initiative lias beeii doveloped as a result of the commitments made by Government in relation to the Irisli Laii&yuage under tlie Good firiday Agreement in 1998. further expanded in the 2006 St Andrews Agreement and defined during the 14illsborough talks of February 2010, General Principles The geiieral aiid &yuiding pi'inciples of the Fund will be: Partnerslilp & Co-oporation: Projects assisted must deinonstrate the promotion of partnersliip and co-operative working priiicipals with other Irish laiiguage groupslbodies at local. regional and national level; Iri¥li-Laiiguage Cultural Development: Projects assisted must demoiistrate tlie proinotion aiid development of the Irish Language and its cultural and social advanceinent; InclusAveness: Projccts musi deiiionslrate tlie promotion of equality of opportunity; Leverage: Projects must deinonstrate the ability to maximise other fund-raising potential and leverage from other development ag¢iicies' Complemenlarity: Projects must deinonstrate that its advanceinent will not duplicate, substitute or create displacement of existing provisioii in tl)e locality. Sustainability: Projects inust demonstrate social and economic sustainability. Page 2 An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Report of tlie directors for the year ended 31 August 2023 Risk Statement (i) General Policy - The major risks to which the charity is exposed have been identified by tlie directors. Formal Inaiiageiiient control systems and procedures, operating policies and manual processes have been agreed and establislied as part of ongoing risk assessment, to mitigate risks. Mitigation of financial risk is further addressed by tlie policy of Iiolding reserves, as detailed below. (li) Reserves Policy An Ciste Inflieistiochta Gaeilge is permitted to hold reserves and any grant-in-aid shall be paid into aiiy reserve held by it. (iii) Iiivestmeiit Policy An Ciste Intheistiochta Gaeilge sliall not make any investments in traded financial iiistriimeiils witliout prior written approval of its accountant. Equity shares in ventures whicli further the objectives of An Ciste Inflieistioclita Gaeilge shall equally be subject to approval from its accouiitant unless covered by a specific delegation froin tlie Board. Objcctivcs and Activities Objectives aiid alms Tlie coinpany's main objective is to Bupport projects aimed at creating the capital infrastructure for the development ofilie Irisli laiiguase iii tlie North of Ireland. The company's statement of Governance is set out above. Publlc Benefit Tlie cliarilable compaiiy's aiins and objectives arc set out within this report. The activities set out in this report have beeii uiidertaken to furtlier the company's cliaritable purposes for the public benefit. The dlrectors have Coinplied witli tlie duty under section 4 of the Companies Act 2006 to Iiave due regard to public benefit guidance publislied by the Cliarities Coiiiiiiission and the trL5Stees havc paid due regard to this guidancc in d¢ciding what activitics tlie cliaritable ¢onip(iiiy should undertake. Acliieveinents and Performance Tlie perforinance of the company is detailed on the statement of financial activity (SOFA) found on page I l of tlie fiiiaiicial 5tatem¢iits. In May 2022 The Departinent for Communities awarded An Ciste Infheistlochta Gaeilge £340,000 (£170.000 per year for two years) for their Business Development Officers Programme. This funding provided employment for four additioiial Business Developinent who are employed in Irish language cominunity capital projects. An Ciste Inflieistlochta Gaeilge was identified as a beneficiary in Tlie New Decade New Approach Agreement, (Jaiiuary 2020) again for its central role in delivering Irisli Language Community ￿]frastrUctUre in the North of IIEland. Funding for threo years (250,000 Euros per year) has been awarded to An Ciste Infheistiochta Gaeilg¢ from The Irisli Governinent's Department of Tourisin, Culture, Arts, Gaeltacht, Sport & Media to organise a strategic prograinm¢ aimed at protectiiig this recent £20+Million investment into the sector, This prograinme is currently einploying ali experienced Director and four young Business Development Officers, located in 4 recently developed coininuiiity facilities. wlio are involved in structured on the job training and peer learning sessions with a foGUS on sustaining Iheir facilities. An Ciste Inflieistiochta Gaeilgehas been awarded a new £4 million fund from the British Govemment as phase 2 runding tlirough Ilie New Decade New Approacli Political Agreement of 2020. This fund will be cliannelled through tlie DepartineIit for Coinmunities (DFC) at £lm per year from l February 2023 until the fund is speiit or up to 31 March 2030. Page 3 An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Report of the directors for the year ellded 31 August 2023 Tlie cliarity coiitinues to target a specific and focused market which is essentially Irish Language Groups that are seeking to eslablish Irish Laiiguage Social, Economio & Cultural related project as a means to advance and progress tlie Irish laiiguage and culture througliout the North of Ireland. Financial Revlew Budgetary controls aiid constant reviews of all expenditure continue to be implemented this period and have not liiiidei'ed tlie business of An Ciste Inflieistiochta Gaeilge in acliieving their primary purpose. Controls tskeii at tl)e administrative level will Continue for the coining financial year with continuous monitoring througliout. Tlie fiiiancial accounts show surplus of £91,688 with reserves of £2,485,525. Plaiis for Future Periods An Ciste Inflieistioclita Gaeilge will employ its capital fund of £4M from Departinent of Communities up to 2030. It will also seek additional funds from a range of sources dependant upon tlie identified strategic needs of the sector goiiig forward. An Ciste Inflieistioclita Gaeilge will contiiiue to seek applications through an open call procedure from interested Irisli Laiiguage Eroups seeking lo advance capital applications for the ultimate development of sustainable capital projccts tliat will Iielp increase Ilie delivery of services lo the Irish Languag¢ sector. Respoiisibilities of the Directors Tlie directors (who are also tlie dir¢ctors of An Ciste Intheistiochta Ga¢ilg¢ for the purposes of coinpany law) are respoiisible foi. prepariiig tlie Directors Annual Report and the financial statements in accordanc¢ with applicable law aiid United Kiiigdom Accounting Standards (United Kingdom Generally Acccpted Accounting Pi'actice). Coinpany law requires the directors to prepare finwicial statements for each financial year which give a true and fair view of tlie state of affairs of the charitable company and of the incoming resources and application of resources, iiicludiiig tlie incoine and expenditure. of tlie charitable company for that period. In preparing tliese financial stateineiits, tlie directors are required to: Select suitable accouiiting policies and then apply them consistently. Observe the metliods aiid priiiciples in the Charities SORP (FRS 102); Make judgemeiils and estiinates that are reasoiiable and prudent; State whetlier applicable UK Accounting Standards have been followed, subjeot to any material departures disclosed and explained in the financial statements. Prepare the financial stateineiits on the going concern basis unless it is inappropriate to presume that the charitable coinpaiiy will ¢oiitinue iii operation. The dircctors are responsible for keeping proper accountins records tliat disclose with reasonable accuracy at any tiine the finaiicial position of tlie cliaritable company and enable them to ensure that the financial stateinents coinply with tlie Companies Act 2006. The directors are also responsible for safeguarding the assets of tlie charitable coinpaiiy and Iiense for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as tlie direclors are aware: Tliei-e is no relevant audit information of which the cliaritable compaiiy's auditor is uiiaware. and Page 4 An Ciste Infheistiochta Gaeilge (A Company Limited by Guarantee) Report of the directors for the year elldcd 31 August 2023 Tlie directors have takeii all steps tliat they ought to have taken to make themselves aware of any relevant audit inforinatioii and to establish that the auditor is aware of that information. Auditors McGroaty Mccafferty & Coinpany are deemed to be reappointed in accordaiice with Section 487(2) of the Coiiipaiiies Act 2006. This report is prepared in accordance with tlie special provisions of Part 15 of the Companies Act 2006 relating to sinall coinpaiiies. Tlie fiiiancial slalements were approved and autliorised for issu¢ by the Board of Directors on 22 November 2023 aiid si&yned on its belialf by? Director Dlrector Page 5 An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Independent auditor's report to the directors of An Ciste Intheistiochta Gacilge Opinion We Iiave audited the fiiiancial statements of An Cisle Intheistiochta Gaeilge for the year ended 31 August 2023 wliicli coinprise tli¢ Statement of Financial Activities, Balance Sheet, Cashflow Statement and the related Iiotes. The finaiicial reporting framework that has been applied in their preparation is applicable law and United Kingdoin Accounting Staiidards (United Kingdom Generally Accepted Accounting Practice) including rRS 102 "Tlie Finaiicial Reportiiig Staiidard applicable in the UK and Republic of Ireland Tliis report is Inade solely to tlie cliaritable company's directors, as a bodyg in accordance with Chapter 3 of Part 16 of tlie Coinpaiiies Act 2006. Our audit work has been undertaken so that we miglit state to the cliaritable coinpany's directors tliose Inatters we are required to state to them in an auditor's report and for no ollier purpose. To Ihe fullest extent permitted by law, we do not accept or assume responsibility to anyone otlier tlian tlie cliaritable conipaiiy and the charitable company's directors as a bodyg for our audit work, for this Itport, or for tlie opinions we have formed. Iii our opinioii the financial 5tateinents: give a true and fair view of the state of the charitable company's ttffairs as at 3 1st August 2023. and of its iiicoining resoui'ces and expenditure of resources, including its incomo and expenditure, for the year tlien elided- liave been properly prepar¢d in accordance with Unit¢d Kingdom Generally Accepted Accounting Practice; and have been prepared iii accordance with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance witli International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our respoiisibilities under tliose staiidards are further described in the Auditor's respoiisibilities t'or tli¢ audit of the finaiicial statements section of our report. We are independent of tl)e cliaritable coinpany in accordance with tlie etliical requirements that are relevant to our audit of tlie financial statements in the UK, iiicludiiig tli¢ FRC'S Etliical Standard, and we have fulfilled our other ethical responsibilities in accordance willi tliese requii'ements. We believe that the audit evidence we have obtained is sutTicient and appropriate to provide a basis for our opinion. Conclusions relating to goEng concern In aLtditing tlie finaiicial stateInents, we have concluded that the directors, use of the going concern basis of accouiiting in tlie prepfiration of tlie fiiiancial stateinents is appropriate. Based on the work we Iiave perfornied, we have not identified any material uncertainties relating to events or condilions that, individually or collectively, may c&%t significant doubt on tlie charitable company's ability to conliiiue as a gyoiiig concern for a period of at least twelve months from when the financial statements arc autliorised for issue. Page 6 An Ciste Infheistiochta Gaeilge (A Company Limited by Guarantee) Our responsibilities and the Fesponsibilities of th¢ directors with respect to going concern are described in tlie Irl¢vant sections of tliis report. Other inforniation Tlie directoi's are respoiisible for tlie other information. The other inforniation comprises the information included in Ilie directors, aiiiiual report, other than the finaiicial statements and our auditor's report thereon. Our opinion on tlie financial.statements does not cover other infonnation and, except to tlie extent otlierwise explicitly stated in our report, we do not express aiiy form of assurance conclusion thereon, In coniiection witli our audit of the fiiiancial statements, our responsibility is to read the other informatioii and, iii doiiig so, coiisider wliether the other information is materially inconsistent with the financial statements or Olir knowledge obtained in tlie audit or otherwise appears to be materially misstated. If we identify such Inaterial iiicoiisisteiicies or apparent material misstatements, we are required to determine whether tliere is a Inaterial misstalement iii tlie fiiiancial statements or a Inaterial Inisstatement of the otlier information, If, based oli tlie work we have performed. we conclude tliat the￿ is a mat¢rial misstat¢m¢nt of tliis Other information, we are required to repoit that fact. We have notliing to report iii tliis regard. Opinioii on otller matters prescribed by the Companfies Act 2006 In oiir opinion based on the work und¢rtak¢n in tli¢ ¢ours¢ of the audit: tlie inforination given in the directors annual report for the finan¢ial year for which the financial statements al'e pi'epared is consistent with tlie financial statements. and tlie directors annual report lias been prepared in accordance witli applicable legal requirements. Matters on which we arc required to report by exception In tlie liglit of our kiiowledge and understanding of the charitable company and its environment obtained in the course of tlie audit, we liave not identified Inaterial misstatements in the directors annual report. We Iiave Iiotliilig to report in respect of the followiiig matters where the Companies Act 2006 requires us to repoit to you if, in our opinion; adequate accouiitiiig records have not been kept. or tlie finaiicial stateinents are not in agreeiiient witli tlie accounting records and returns; or certaiii disclosures of directors, reimuneration specified by law are not made. or we have not received all tlie infonnation and explanations we require for our audit. or the directors were not entitled to prepare the financial statements in accordance with the small coinpanies I'egiiiie aiid lake advaiitage of the small companies exemption from tlie requirement to prepare a strategic report. Pgge 7 An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Rcsponsibilities of tlie directors As explained more fully in the Directors, Responsibilities Statement set out on pag¢ 4, the directors (who are also the directors of tli¢ charitable company for the purposes of company law) are responsible for the pi'eparation of tlie financial statements and for being satisfied that they give a true and fair view, and for such internal coiitrol as the directors determin¢ is necessary to enable th¢ preparation of financial stateincnts that ar¢ free from material misstatement, whetlier due to fraud or error, Iii preparing the financial stateinents, the directors are responsible for assessing the charitable company's ability to coiitiiiue as a going concern, disclosing, as applicable, matters related to going concern and using the goingi concern basis of accounting unless the trustees either intend to liquidat¢ the charitable company or to cease opci'ations. or have no realistic alternative but to do so. Audltor's rcsponsibilities for th¢ audlt of tlie financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free froin Inaterial Inisstatement, whether due to fraud or error, and to issue an auditor's report that includes our opiiiioii. Reasoiiable assurance is a higli level of assurance. but is not a guarantee that an audit conducted in accordaiice willi ISAS (U K) will always detect a material Inisslatement wlien it exists. Misstdteinents can arise froiii fraud or error aiid are consid¢r¢d material if. individually or in the aggregate, tliey could reasonably be expected to influeiice tlie economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instanc¢s of non-compliance with laws and regulations. We design procedures In liiie witli our r¢spoiisibilities, outlined above, to detect material inisstatements in respect of irregularities, includiiig fraud. However, the primary responsibility for the preveiition and detection of fraud lies with rnanag¢inent and the board of directors of the charitable company. Identifying and asseysing potential risks related to IrregularAtles In ideiitifying and asscssingy risks of material misstatement in respect of irregularities. including fraud and non-coinpliaiice with laws and regulations, we considered the following: tlic nature of tlie industry, sector and the specific control environinent wliich it operates in. tlie charities own assessinent of tlie risks that irregularities may occur, either as a result of fraud or error; representations and results from our enquiries with Inanagement and the board of directors regarding their own identificatioii and assessineiit of the risks of irregularities: enquii'ies of managemeiit relating to accounting estimates measurements, recognition criteria aiid justification of sucli amounts. any matters we have identified liaving obtained aiid reviewed the Charities policies and procedures relating * ideiitifyiiig and asscssiiig if laws and regulations are compliant and whether they are aware of any instances of iion-compliaiice. * detection and response to the risk of fraud and whether they are aware of any actual, suspected or alleged fraud instaiices. * tlie interiial Goiitrols designed to mitigate risks or fraud or non-compliance with laws and regulations, and to miniinise risk of Inanagement overrides of sucli controls. all matters discussed among the audit engagement team regarding how and where fraud could occur and the potential iiidicators of fraud. Page 8 An Ciste Intbeistiochta Gaeilge (A Company Limited by Guarantee) As a result of thes¢ procedur¢s, we Coiisider¢d tli¢ opportunities and incentives tliat may exist within the cliaiity for fraud. Tlie audit included &ssessing the procedures and evaluating the measureinent of estimations. In coiniiion with all audits under ISAS (UK), we are also required to perform specific procedures to respond to tlie I'isk of managemeiit override, We also obtained ali understaiiding of the legal and regulatory frameworks applicable to the cliarity and considered tliat the most significant are the UK Companies Act 2006. SORP 2019 (FRS 102) and Charities Acl (Nortlierii Jr¢laiid) 2008. Audit responses to risks identified Our procedures to respoiid to risks identified included the following: I'eviewing the finaiicial stateinent disclosures, testing the relevant documeiitation to &qsess compliance with tlie sigiiificant laws and regulations - tliose described &5 having a direct effect on tlie financial stateineiits; enquiriiig witli management and obtaining third party confirmation from the Charities Solicitors regarding aiiy actual oi. potential litigation and claims. pei'forinins analytical procedures to identify any unusual or unexpected relationsliips that may Indicllte risks of matei'i(il Inisstateineiit due to fraud. reading minutes of board and managemciit meetings, examine forecasting material in line with actual p¢rfoi'inanc¢, idciitifyiiig any potential fraud iiidicators or instances. i"¢viewiiig Coinpanies House and Charity Cominission Northern Ireland correspondence, idcntify aiiy late subinissions or omissioiis of inandatory inforination. review correspondence witli HMRC, identifying non compliance of speoific information to be disclosed. in addressii)g tlie risk of fraud tlirough Inanagement override of controls, testing the appropriateness of data entries and adjustments; &sscssing wliether the judgements made in making accounting estimates ar¢ indicative of a potcntial bias. and evaluating the rationale of any significant transactions that are unusual or outside the iiorinal course of the Charities objectives. We also coininunicated relevant identified laws and regulations and potential fraud risks to all engageinent teain iiiembers aiid remained alert to any indications of fraud or noncompliance with laws aiid regulations thi'ougliout tlie audit. As part of an audit in accordance witli ISAS (UK), we exercise professional judgment and maintain profe55ioiial scepticism tliroughout the audit. We also: Ideiitify and assess tlie risks of material misstateinent of the fIn￿]cIal statements, wlietlier due to fraud or error, d¢sign aiid perforin audit procedure5 responsive to those risks, and obtain audit evidence tliat is suffIcient and fLppropriat¢ to provide a basis for oui. opinion. Tlie risk of not detecting a material mi55tat¢ment resuliing from fraud is liiglier than for one resulting from error, as fraud inay involve collusioii, forgeryi iiitentional oiiiissions, misrepresentatioiis, or thc ovcrride of internal control. Obtaiii an understaiiding of internal control relevant to the audit in order to design audit procedures tliat are appropriate in tlie circumstances, but not for the purpose of expressing an opinion on the effectiveness of the cliaritable company's internal control. Evaluate tlie appropriateness of accounting policies used and the reasonableness of accounting estimates and related discloslires made by tlie directors. Page 9 An Ciste Infheistiochta Gaeilge (A Company Limited by Guarantee) Conclude on the appropriat¢ness of the directors, us¢ of th¢ going coiic¢m basis of accounting and, based on the audit evidence obtained, wliether a material uncertainty exists related to events or conditions that may cast sigiiificant doubt on the charitable company's ability to continue as a going concern. If we conclude that a niatei'ial uncertainty exists, we are required to draw altention in our auditor's report to the related disclosures in tlie fiiiancial statements or, if such disclosure5 are inadequat¢, to modify our opinion. Our conclusions are based oli tlie audit evideiice obtained up to the date of the auditor's report. However, future events or coiiditioiis may cause the cliaritable company to cease to continue as a going concern. -Evaluate the overall presentation, structure and content of the financial stateinents, including the disclosures, ai)d wheilier tlie fiiiaiicial statem¢nts represent the underlying transactions and events in a manlier tliat acliieves fair prcseiitalion. We Coinniuiiicate with tliose charged with goveriiance regarding, among other matters, the plaiined scope and tiiniiig of tlie audit and significant audit findings> including any significant deficiencies in internal control that we ideiitify during our audit. Patriek MCGI oarty Senior Statutory Audltor for and on behalf of McGroarty Mccafferty & Company Slatutory Auditor 2 Carlisle Terraco Deriy B'r48 6JX Dute: 22 Noveniber 2023 Page 10 An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Statement of Financial Activities for the year ended 31 August 2023 Year Ended 2023 Year Unrestrietod Funds Restricted Funds 2022 Income and Expenditure Incomlng Resources Incoming resoz4rcesfrom generatingfunds.. Voluiitary iiicoine Iiivestnient income 41.800 161.076 703,937 745,737 161,076 330,358 157,551 Total Inconiing Resources 202,876 703.937 906,813 487,909 Rosources Expended Cliarilable activities Goveriiance costs (108,695) (2,493) (703,937) (812,632) (547,845) (2,493) (2,473) Total Resources Expended (111,188) (703,937) (815,125) (550,318) Net Iiicoxning l (Outgoing) Resourccs 91,688 91,688 (62,409) Balances brouglit forward I Septeinber 2022 861,735 1.532.102 2,393.837 2,456,246 Balaiices carried forward 31 August 2023 15. 953.423 1,532,102 2,485,525 2,393,837 Tlie above ainouiits relate to coiitiiiuing operations of the company. Tlic coinpaiiy lias no recognised gains and losses other than tliose included in the results above and therefore 110 sepai'ale statejnent of total r¢¢ognised gains and losses has been presented. There is no difference between the net iiicoiniiig resources for the year stated above and their historlcal cost cquivalents. Page 11 An Ciste InThcistiochta Gaeilge (A Company Limited by Guarantee) Balan¢e sheet as at 31 August 2023 2023 2022 Notes Current assets Debtors Casli at baiik aiid in hand 12, 2,182,095 1,360,263 2,178,774 395,535 3,542,358 2,574,309 Current liabilities Bank loaiis and overdrafts Otlier creditors Acci'Lillls 808,070 248,763 40,402 140,062 13. 1,056.833 180,472 Nct currcnt assets 2.485,525 2,393,837 Tolal assets less current liabilities 2.485.525 2,393,837 Ineome Fund5 Uiircstricted funds Restricted funds 16. 953,423 1,532,102 861,735 1,532,102 2,485,525 2,393,837 Tlie fiiiaiicial statemeiits are prepared in accordance with the special provisions of Part 15 of the Compaiiies Act 2006 aiid the Cliai'ity's SORP (FRS 102). These accouiits have been prepared in accordance witli the provisions applicable to coinpani¢s subject to the sinall coinpaiiies regime. Tlie Fiiiancial Statements were approved and authorised for issue by the Board on 22 November 2023 and sigiied oli its belialf by Director Director Conipany Number: N1602912 Pagc 12 An Ciste Infhcistiochta Gaeilge (A Company Limited by Guarantee) Statement of Cash llows as at 31 Au%u5t 2023 2023 2022 Net incoining l (outgoing) resources for the year (Iiicrease)I decre&se in debtors (Deci'ease)l increase in creditors 91.688 (3.321) 876,361 (62,409) 39,374 149,179 Net (outflow)l inflow from operatfing actlvltles 964.728 126,144 (Dccro8se)/ Increase Ali cash in the year 964,728 126.144 R¢conciliation of net cash flow to movement in net funds (Decreasc)IIiici'ease In cllsh En tho year Net funds at I September 2022 964,728 395.535 126,144 269,391 Nct funds at 31 August 2023 17. 1,360,263 395.535 Page 13 An Ciste Infheistiochta Gaeilge (A Company Limited by Guarantee) Notes to the accounts for th¢ year ended 31 August 2023 Geiieral informatlon Tlie charity is a private limited company by guarantee, registered in Northern Ireland and a registered cliarity in Nortliern Ireland. The address of the registered office is Culturlann Ui Chanain. 37 Great James Street, Derry. BT48 7DF. 1.1. Accounting convention Tlie priiicipal accounting policies adopted in the preparation of the financial statements are set out below and have remaiiied unchanged from the previous year, and also have been consistently applied witliin the saine accouiits. The cliarity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordaiice with the accountRng policies set out in notes to the accounts and comply witli the charity's governing docuineiit, the Charities Act (Northern Ireland) 2008 and Accounting and Reportiiig by Cliarities: Statement of Recommended Practice applicable to charities preparing tlieir accounts iii accordaiice with the Financial Reporting Standard applicable in the UK aiid Republic of Ireland publislied in October 2019 (SORP 2019) and the Companies Act 2006. The financial slatements are prepared on a going concern basis under thc historical cost convention, Inodified to included certain items at fair value. The fInaiicial statements are presented in sterling which is tlie fuiictioiial curreiicy of the charity. IncominLv resources All incoining resources are in¢luded iii tlie SOFA when the charity is legally entitled to tlie incoine and the ainount can be qualified witli reasonable accuracy. The following speoific policies are applied to parl'icular Categories of iiicoine: Voluiitary iiicoine is received by way of grants, donations and gifts and is included in full in the stateinent of financial activities when receivable. Grants where entitlement is not conditional on the delivery of a specific performance by the charity, are r¢cognised when th¢ charity b¢com¢s uncondilioiially entitled to tlie grant. Donated services and facilities are included at the value to the cliarity where this can be quantified. Tlie value of seivices provided by volunteers h&g not been included. Gifts doiiated for resale are included as incoming resources within actiVLties for generating funds wlicn thcy are sold. Resources expende