Company Number: N1602912 Charity Number: NIC103641 An Ciste InTh¢istio¢ht8 Gaoilge (A Company Llmlted by Guarantee) Financial Statements for the year ended 31 August 2024
An Ciste Infheistiochta Gaeilge (A Company Limited by Guarantee) Contents Pago Inforixation Directors, Report Independent Auditors Report 6-10 Statement of financial Activities 11 Balance slieet 12 Cashflow statement 13 Notes to the accounts 14-21
An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Information Rcglstcred Charity Name An Ciste Infheistiochta Gaeilge Charity Number NIC103641 XG26311 Company Number N1602912 Rcgistored Office Cultthrlann Ul Chanain 37 Great James Street Derry BT48 7DF Directors Maria Caraher Rosaleen Mccorley Laurence Mccurry Professor Margaret Dolores O'Reilly Niall O Cathain paid O Maolagain Auditors McGroaty Mccafferty & Company Accountants & Registered Auditors 2 Carlisle Terrace Derry BT48 6JX Solicitors Agnew Aiidress Higgins Solicitors Ltd 92 High Street Belfast BTI 2BG Bankers Bank of Ireland 27 Culmore Road Derry BT48 8JB Page I
An Ciste InTheistiochta Gaeilge (A Company Limited by Guarantee) Report of the dRrectors for the year ended 31 August 2024 The directors pr¢sent their report and the financial statements for the year ended 31 August 2024. The directOTS of An Ciste Infheistiochta Gaeilge for tl)e purposes of Company law and who served during th¢ year and up to tl)e date of tliis report are set out below: Maria Caraher Rosaleen Mccorley Laurence Mccurry Professor Margaret Dolores O'Reilly Niall O Cathain paid O Maolagain Structure, Governance and Management Govcrnlng document Tlie cliarity is Controlled by its governing document, the financial memorandum, and constitutes a limited companyy limited by guarantee, as defined by tlie Companies Act 2006. Governaneo Tlie Board is a limited company regulated by its Memoranduin and Articles of Association as laid down in the Compani¢s Acts. This instrument is a legal document which lias bearing only on An Ciste Intheistiochta Gaeilge. An Ciste Infheistiochla Gaeilge (The Irish Language Investment Fund) is an organisation that has been establislied to assist tlie development of Irish Language coinmunities. in particular, the Fund's role is to help advance major capital infrastructural projects which ultimately assist the social, economic and cultural needs of Irish Language communities. The Initiative lias been developed as a result of the commitments made by Government in relation to the Irish Language under Ilie Good Friday Agr¢ement in l998, further expanded in the 2006 St Andrews Agreement and defined during the Hillsborougli talks of february 2010. General Prlnciples Tlie general and guiding principles of the Fund will be: Partnership & Co-operatlon: Projects assisted Inust demonstrate the promotion of partnership and co-operative working principals with other Irish language groupslbodies at local, regional and national level; Irish-Language Cultural Development: Proje¢t5 a55iSted must demonstrate the promotion and development of the Irish Language and its cultural and social advancement; Inclusiveness: Projects must demonstrate the promotion of equality of opportunity; Leverage: Projects must demonstrate the ability to maximise other fund-raising potential and leverage from other development agencies. Complementarity: Projects must demoiistrate that its advancement will not duplicate, substitute or create displacement of existing provision in the locality. Sustainability: Projects must demoiistrate social and economic sustainability. Page 2
An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Report of the directors for the year ended 31 August 2024 Risk Statement (i) G¢n¢ral Policy - The major risks to which the charity is exposed have been identified by the directors. Fonnal manag¢m¢nt control systems and procedures, operating policies and illanual processes have been agreed and established as part of ongoing risk assessment, to mitigate risks. Mitigation of financial risk is further addressed by the policy of holding reserves, as detailed below. (li) Reserves Policy - An Ciste Infheistiochta Gaeilge is permitted to liold reserves and any grant-in-aid sliall be paid iiito any reserve held by it. (iii) Investment Poli¢y An Ciste Infheistiochta Gaeilge shall not make any investments in traded financial instruments without prior written approval of its accountant. Equity shares in ventures which further the objectives of An Ciste Intheistiochta Gaeilge shall equally be subject to approval from its accountant unless covered by a specific delegation from the Board. Objectlves and Activities Objectives and aims Tlie company's main objective is to support projects aimed at creating the Capital Infrastructure for tlie development ofthe Irish language in the North of Ireland. The company's Statement of Governance is set out above. Publlc Benefit Tlie cliaritable coinpany's aims and objeclives are set out within this report. The activities set out in this report have been undertaken to furtlier the coimpany's charitable purposes for the public benefit. The directors have complied witli the duty und¢r scction 4 of tlie Companies Act 2006 to havc due regard to public benefit guidance published by the Charities Commission and tlie trustees have paid due regard to this guidance in deciding what activities th¢ cliaritable Company should undertake. Achlevements and Performance The perfonnance of th¢ company is detailed on the statement of financial activity (SOFA) found on page I l of the financial statements. In May 2022 The Department for Coininunities awarded An Ciste Infheistloclita Gaeilge £340,000 (£170,000 per year for two years) for tlieir Busiiiess Development Officers Programme. This funding provided employment for four additional Business Development Officers who are einployed in Irish language community capital projects. An Ciste Intheistiochta Gaeilge was identified as a beneficiary in The New Decade New Approach Agreement, (January 2020) agaiii for its central role in delivering Irish Language Community Infrastructure in the Nortli of Ireland. Funding for three years (250,000 Euros per year) lias been awarded to An Ciste Infheistiochta Gaeilge from Tlie Irish Government's Deparhnent of Tourism, Culture, Arts, Gaeltacht, Sport & Media to organise a strategic prograinme aimed at pmtecting this recent £20+Million investmeiit into the sector. Tliis programme is currently employing an experienced Director aiid four young Business Development Officers, located in 4 recently developed Coininunity facilities, who are involved in structured on the job training and peer learning sessions with a focus on sustaining their facilities. An Cisle Inflieistiochta Gaeilge has been awarded a new £4 million fund from the British Govemment as pliase 2 funding through the New Decade Neiv Approach Political Agreement of 2020. This fund will be channelled through the Department for Communities (DFC) at £lm per year from l February 2023 until the fund is spent or up to 31 March 2030. Page 3
An Ciste Infibeistiochta Gaeilge (A Company Limited by Guarantee) Report of the directors for the year ended 31 August 2024 Th¢ charity ¢ontinu¢s to target a specific and focused market which is essentially Irish Language Groups that are 5¢eking to ¢stablisli Irish Languag¢ Social, Economic & Cultural related project as a means to advance and progress the Irish language and cultur¢ throughout the North of Ireland. Financial Review Budgetary controls and constant reviews of all expenditure continue to be implemented this period and have not hindered the busiiiess of An Ciste Infheistiochta Gaeilge in achieving their primary purpose. Controls taken at the adininistrative level will continue for the coming financial year with continuous monitoring througliout. The financial accounts show surplus of £141,652 with reserves of £2,627,177. Plans for Future Perlods An Ciste Intheistiochia Gaeilge will employ its capital fund of £4M from Department of Communities UP to 2030. It will also scck additioiial funds from a range of sources dependant upon the identified strategic needs of the sector going fonvard. An Ciste Inflieistiochta Gaeilge will continue to seek applications through an open call procedure from interested Irisli Language groups seeking to advance capital applications for the ultimate development of sustainable capital projects tliat will help increase the delivery of services to the Irish Language sector. Responslbllltles of the Dircctors The directors (who are also the directors of An Cist¢ Intheistioclita Gaeilge for the purposes of company law) are responsible for preparing the Directors Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial 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 resour¢es, including the income and expenditure, of the charitable company for that period. In preparing tliese financial statements, tlie directors are required to: Select suitable accounting policies and tlien apply tliem consistently; Observe the methods and principles in the Charities SORP (FRS 102); Make judgements and estiinates that are reasonable and prudent; State whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable ompany will continue in operation. The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of tlie charitable company and enable them to ensure that the financial statements comply Ivitli the Companies Act 2006. The directors are also responsible for safeguarding the assets of the charitable company and hense for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the directors are aware: Tliere is no relevant audit information of wliich the charitable company's auditor is unaware. and Page 4
An Ciste Inffieistiochta Gaeilge (A Company Limited by Guarantee) Report of the directors for the year ended 31 August 2024 The directors have taken all steps tliat they ouglit to have taken to make themselves aware of any relevant audit inforniation and to establisli that tlie auditor is aware of that inforn]ation. Auditors McGroaty Mccafferty & Company are deemed to be reappointed in accordance with Section 487(2) of the Coinpanies Act 2006. This report is prepared in accordance with the special provisions of Part 15 of ilie Companies Act 2006 relating to small companies. Tlie financial stotements were approved and authorised for issue by the Board of Directors on 5 December 2024 and 5i&yned on its behalf by; Director Director Page 5
An Ciste Intheistiochta Gaeilgc (A Company Limited by Guarantee) Independent auditor's report to the directors of An Ciste Intheistiochta Gaeilge Opinion We have audited the financial statements of An Ciste Inflieistiochta Gaeilge for the year ended 31 August 2024 which comprise the Statement of Financial Activities, Balance Sheet, Cashflow Statement and tlie related notes. The financial reporting framework that has been applied in tlieir preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland Tliis report is made solely to the charitable company's directors, as a body> in accordance with Chapter 3 of Part 16 of the Coinpanies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's directors those matters we are qUired to state to them in an auditor's report and for no other purpose. To tlie fullest extent pemiitted by law, we do not accept or assume responsibility to anyone other than the cliaritable company and the charitable coinpany's directors as a body, for our audit work, for this report, or for the opiiiions we have forined. In our opinion tlie financial statements: give a true and fair view of the state of tlie cliaritable company's affairs as at 3 1st August 2024, and of its incoming resources and expenditure of resources, including its income and expenditure, for the year then have been prop¢rly pr¢pared in accordance with Uiiited Kingdom Generally Ac¢¢pt¢d Accounting Practice; and have bcen prepared in accordance with the requirements of the Companies Act 2006. Basls for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under tliose standards are further described in the Auditols responsibilities for the audit of tlie financial statements section of our report. We are independent of the charitable company in accordai)c¢ with thc ethical requireinents that are relevant to our audit of tlie financial statements in the UK, including tlie FRC'S Etliical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions reluting to golng coneorn In auditing the financial statements, we have concluded that the directors, use of the going concern basis of accounting in the preparation of the fInancial statements is appropriate. Based on the work we have perfornied, we liave not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on tlie 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. Page 6
An Ciste Intlieistiochta Gaeilge (A Company Limited by Guarantee) Our responsibiliti¢s and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report. Other information The directors are responsible for the other information. The otlier infomiation coinprises the infonnation included in tlie directors, annual report, other tlian the financial statements and our auditor's report thereon. Our opinion on tlie financial statements does not cover otlier information and, except to the extent otl)erwise explicitly stated in our report, we do not express any fomi of assurance conclusion thereon. In connection with our audit of the financial stateirjents, our responsibility is to read the other information and, in doing so, consider whether tlie oilier information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otlierwise appears to be materially misstated. If we identify such material inconsistencies or apparent Inaterial misstatements, we are required to deterniine whether tliere is a material misstateinent in the financial statemcnts or a material misstatement of the other infomiation. If, based on thc work we liave performed, we conclude that there is a material misstatement of this other infomiation, we are required to report tliat fact. We have nothing to report in this regard. Opfinlon on other matters prescrfibed by the Companies Act 2006 In our opinion based on tlie work undertaken in the course of tlie audit: tlie infomation given in the directors annual report for the financial year for which the financial statements are prepared is consistcnt with the financial slatements; and the directors annual report has been prepared in accordance with applicable legal requirements. Matters OD whlch wo are required to report by exceptlon In tlie light of our knowledge and understanding of tlie charitable company and its environment obtained in the course of the audit, we liave not identified Inaterial misstatements in the directors annual report. W¢ have nothing to report in respect of th¢ 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 the finaii¢ial stateinents are not in agreement with the accounting records and returns; or certain disclosures ofdirectors, remuneration specified by law are not made. or ve have iiot received all the information and explanations we require for our audit. or the directors were not entitled to prepare tlie financial statements in accordance with the small companies regime and take advantage of tlie small companies exemption from tlie requirement to prepare a strategic report. Page 7
An Ciste Intheistiochta Caeilge (A Company Limited by Guarantee) Responsibilities of the directors As ¢xplained more fully in the Directors, Responsibilities Statement set out on page 4. th¢ directors (who are also th¢ directors of the charitable company for the purposes of company law) are responsible for the preparation of tlie financial statements and for being satisfied that they give a true and fair view, and for such internal control as tlie directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing th¢ finaiicial statements, the directors are responsible for assessing the charitable coinpany's ability to continue as a going concern, disclosing, as appli¢able, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alleniative but to do so. Auditor's responsibilltles for the audit of the financial statements Our objectives are to obtain reasonable assurance about whetlier the financial statements as a whole are free from inaterial misstatement, Ivhether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable &ssuraiice is a higli levcl of assurance, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a Tnaterial misstatement when it cxists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence tlie economic decisions of users taken on ihe basis of these financial slatements. Irr¢gularities, including fraud. are instan¢¢s of non-compliance with laws and regulations. We design procedures in liiie with our responsibilities, outlined above, to det¢ct matcrial misstatements in r¢spect of irregularities, including fraud. Hoivever, the primary responsibility for the prevention and detection of fraud lies with manageinent and the board of directors of tlie cliaritable company. Identifying and assesslng potcntial risks related to irregularities In identifyiiig and assessing risks of material mi5Statement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the followiiig: tlie nature of the industry> sector and the specific control environment which it operates in. the Charities own assessment of tlie risks tliat irregularities may occur, either as a result of fraud or error. representations and results froin our enquiries with management and the board of directors regarding their own ideiitificatioii and assessment of the risks of irregularilies. enquiries of management relating to accounting estimates measurements. recognition criteria and justification of sucl) ainounts; any inatters we have identified having obtained and reviewed the Charities policies and procedures relating * ideiitifying and assessing if laws and regulations are compliant and wliether they are aware of any instances of non-coinpliance; * detection and response to the risk of fraud and whether they are aware of any actual, suspected or alleged fraud instances; * the internal controls designed to mitigate risks or fraud or non-compliance with laws and regulations, and to minimise risk of management overrides of such controls. all matters discussed among tlie audit engagement team regarding how and where fraud could occur and the potential indicators of fraud. Page 8
An Ciste Ine1StIOchta Gaeilge (A Company Limited by Guarantee) As a result of these procedures, we considered the opportunities and incentives that may exist within the harity for fraud. The audit included assessing the procedures and evaluating the measurement of estimations. In cominon with all audits under ISAS (UK), we are also required to perforni specific procedures to respond to the risk of management ov¢rride. We also obtained an understanding of the legal and regulatory frameworks applicable to the charity and considered that the most significant are the Companies Act 2006, SORP 2019 (FRS 102) and Charities Act (Northern Ireland) 2008. Audlt responses to risks identified Our procedures to respond to risks identified included the following: reviewing tlie financial statement disclosures, testing tlie relevant documentation to assess compliance with the significant laws and regulations - those described as having a direct effect on the financial statements; enquiring with manageineiit and obtaiiiing third paty confirmation from the Charities Solicitors regarding any actual or potential litigation and ¢laiins- perforIning anal)Qical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud. reading minutes of board and manageineiit meetings, examine forecasting material in line with actual perfonnance, identifying any potential fraud indicators or instances: reviewing Companies Hous¢ and Cliarity CoInmission Northern Ireland correspondence, identify any late submissions or omissions of mandatory inforination. revi¢w corrcspondenc¢ with HMRC. identifying non compliance of specific inforniation to be disclosed. in addressing tlie risk of fraud through Inanageill¢nt overrid¢ of controls, testing the appropriateness of data entries and adjustments. &ssessing whether the judgements madc in making accounting estimates are indicative of a potential bias: and evaluating the rationale of any sigiiificant transactions that are unusual or outside the nomial course of th¢ Charitics objcctives. We also cominunicated relevant identified laws and regulations and potential fraud risks to all engagement team members and r¢inained alert to any indications of fraud or noncoinpliance with laws and regulations througliout the audit. As part of an audit in accordance with ISAS (UK), we exercise professional judginent and maintain professional scepticism througliout the audit. We also: Identify and assess the risks of niaterial misstatement of the financial statements, whether due to fraud or error, design and perfonn audit procedures responsive to those risks, and obtain audit evidence that is sutficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may Involve collusion, forgery9 intentional Oinissions, misrepresentalions, or tlie overrid¢ of internal control, Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the charitable company's intemal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the directors. Page 9
An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Conclude on the appropriateness of the directors, use of tlie going concern basis of accounting and, based on tlie audit ¢vidence oblained, wlietl)er a material un¢¢rtainty exists related to ¢vents or conditions that may cast significant doubt on tlie charitable compaiiy's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if sucli disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit cvidence obtaiiied up to the date of the auditorfs report. However, future events or conditions may cause the charitable company to cease to continue a5 a going concern. -Evaluate tlie overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate witli those charged with governance regardingg among other matters, tlie planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control tliat we identify during our audit. Patrick McGroarty Senior Statutory Auditor for and on behalf of McGroarty Mccafferty & Company Statutory Auditor 2 Carlislo Terra¢e Derry BT48 6JX Date: 5 December 2024 Page 10
An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Statem¢nt of Finan¢ial Activiti¢s for the year ended 31 August 2024 Y¢ar Ended 2024 Year Ended 2023 Unrestricted Funds Restricted Funds Income and Expenditure Incoming Resources Inconiing resourcesfroni generalingfiinds.. Voluiitary income Investmeiit incoine 98,565 166,845 624,551 723,116 166,845 505,737 161,076 Total Incoming Resourecs 265,410 624,551 889,961 666,813 Resources Expended Charitable activities Governance costs (121,264) (2,494) (624.551) (745,815) (572,632) (2,494) (2,493) Total Resources Expended (123,758) (624,551) (748,309) (575,125) Net Incomlng l (Outgoing) Rcsourcos 141,652 141,652 91,688 Balances brought forward I September 2023 953,423 1,532,102 2,485,525 2,393,837 Balances carried forward 31 August 2024 15. 1,095,075 1,532,102 2,627,177 2,485,525 The above amounts relate to continuing operations of tlie company. Tlie coinpany lias no recognised gains and losses otlier than those included in the results above and therefore no separate statement of total recognised gains and losses has been presented. There is no difference between the net incoming resources for the year stated above and their historical cost equivalents. Page 11
An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Balanee sheet as at 31 August 2024 2024 2023 Notes Current assets Debtors Casli at bank and in liand 12. 2,219,481 780,583 2,182,095 1,360,263 3,000,064 3,542,358 Current liabllltles Otlier creditors Accruals 360,513 12,374 1,048,070 8,763 13. 372.887 1,056.833 Net current assets 2,627,177 2,485,525 Total assets less current liabilities 2,627,177 2,485,525 Income Funds Unresiri¢t¢d fuiids Restricted funds 16. 1,095,075 1,532,102 953,423 1,532,102 2,627,177 2,485,525 The financial stateinents are prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 and tli¢ Charity's SORP (FRS 102). Tliese accounts have been prepared in accordance with tlie provisions applicable to companies subject to the small companies regime. The Financial Statements were approved and authorised for issue by the Board on 5 December 2024 and signed on its behalf by Dlrettor Director /vto 6 Company Number: N1602912 Page 12
An Ciste InTheistiochta Gaeilge (A Company Limited by Guarantee) Statement of Cash flows as at 31 August 2024 2024 2023 Net incoming / (outgoing) resources for the year (Increase)/ decrease in debiors (Decrease)l increase in creditors 141,652 (37,386) (683,946) 91,688 (3,321) 876,36l Net cash (outflow)l inflow from operAtIDg actlvlties (579,680) 964,728 (Decrease)I Increase in cash in the year (579,680) 964,728 Reconclllatlon of net cash flow to movement in net funds (Decre2se)Ilncrease in cash in the year Net funds at I September 2023 (579,680) 1,360,263 964,728 395,535 Net funds at 31 August 2024 17. 780,583 1,360,263 Page 13
An Ciste InTheistioehta Gaeilge (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 August 2024 General information The Cliarity is a private limited company by guarantee, registered in Northern Ireland and a registered harity in Northern Ireland. The address of the registered office is Culturlann Ui Chanain, 37 Great James Street, Derry, BT48 7DF. 1.1. A¢counting convention The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unclianged from the previous year, and also have been consistently applied within the same accounts. Tlie charity constitutes a public benefit entity as defined by FRS102. Tlie financial statements have been prepared in accordance witli the accounting policies set out in notes to the a¢¢ounts and comply with the charity's goveming document, the Charities Act (Nortliern Ireland) 2008 and Accounting and Reporting by Cliarities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the financial Reporting Standard applicable in the UK and Republic of Ireland publislied in October 2019 (SORP 2019) and the Companies Act 2006. The financial statements are prepared on a going concem basis under the historical cost convention, modified to included certain items at fair value. Tl)e financial statements are presented Tn sterling wliich is the functional currency of the charity. Incomlng resources All incoming resources are included in tlie SOFA when the charity is legally entitled to the income and the amount can be qualified with reasonable accuracy. The following 5pe¢ifi¢ policies are applied to particular categories of income: Voluntary income is received by way of grants, donations and gifts and is included in full in the statement of financial activities when receivable. Grants where entitlement is not conditional on the dclivery of a specific performance by tlie charity, are recognised when the charity becomes unconditionally entitled to the grant. Donated services and facilities are included at the value to the Charity where this can be quantified. The value of services provided by volunteers lias not been included. Gifts donated for resale are included as incoming resources witliin activities for generating funds when they are sold. Resources expended All expenditure is accounted for on an accruals basis as a liability IS incurred and hag been classified under headings that aggregate all costs related to the category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Page 14
An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 August 2024 1.4. Fund accounting Unrestrlcted funds In accordance with tlie memorandum and articles of association, surplus funds are held in order to ensure tliat tlie charity can meet the costs of administering the fund. Any interest earned by An Ciste Intheistiochta Gaeilge on its assets or cash reserves sliall be used for the distribution to grant-assisted projects andl or runnii)g Costs of th¢ board in accordance with its aims and objectives. Restrietod fund5 Capital fund Incoixe for the capital fund is derived from the advancement of £8 million grant income for capital and related expenditure. An Ciste Inlheistiochta Gaeilge should be in a position to disperse £8 million by way of grant assistance to projects. 1.5. Cash at bank Ch at bank and cash equivalents are stated at cost at the financial year end. 1.6. Pension schemes The pension costs cliarged in the financial statements represent the contribution payable by the charity during the year. 1.7. Company status The charity is a company limited by guarantee and does not have a sliare capital. 1.8. Going con¢ern The financial statements have been prepared on a going concern basis as the directors believe that no material uncertainties exist. The directors have considered the level of funds held and tlie expected level of income and expenditure for 12 months from authorising these financial statcments. The budgetcd income and expenditure is SU1cle1]t with the level of reserves for the charity to be able to continue as a going concern. Voluntary Income Year Ended 2024 Year Ended 2023 Unrestricted Restricted Funds Funds New Decade New Approach Department for Communities DFC - Capital Fund (See note 14) Donations and managment fees 204,887 139,454 280,210 204,887 139,454 280,210 98,565 198,317 165,620 100,000 41,800 98,565 98,565 624,551 723,116 505,737 Page 15
An Ciste Infibeistiocbta Gaeilge (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 August 2024 Investment Income Year Ended 2024 Year Endod 2023 Unrestrlcted Funds Rcstrietod Funds Bank interest receivable Loan interest 9,345 l57,500 9,345 157,500 3,576 157,500 166,845 166,845 161,076 Cost of Charltable Actlvlties by Fund Type Year Ended 2024 Year Ended 2023 Unrestricted Funds Restrlcted Funds Grants payable Progainme & support costs 280,210 344,341 280,210 465,605 i 00,000 472,632 121,264 121.264 624,551 745,815 572,632 Governance Costs Year Endcd 2024 Year Ended 2023 Unrestricted Funds Restrlcted Funds Professional fees 2,494 2,494 2,493 2,494 2,494 2,493 Page 16
An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 August 2024 Analysis of Grants Payable Year Ended 2024 Year Ended 2023 Pobal An Cliaistil (See Note 14) Cumann Gaelach Leatli Chatliail Glor Uacliiar Pire Cairdc Uf Néill 39,894 16,000 176,316 48,000 100,000 280,210 i 00,000 Analysis of Programmc & Support Costs Year Ended 2024 Year Ended 2023 Unrestricted Funds Restricted Funds Staff Costs Consultancy fees Premises Coininuni¢ations and IT Finance costs Office costs Travel and subsislence Computer costs Sponsorsliip Programme cosls Dept For Coinmunities expenses New Decade New Approacl) expenses Promotional costs Website costs Legal fees Subscriptions Sundry expenses 10. 71,596 18,150 5.042 2,152 320 810 3,570 421 8,214 1,854 40,009 111,605 18,150 5,042 2,152 320 810 3,570 421 8,214 1,854 139,454 164,878 108,766 17,860 5,139 2,569 292 1,182 3,491 476 6,350 100 165,620 158,242 370 139,454 164,878 5.500 3,600 35 5,500 3,600 35 1,200 600 375 121,264 344,341 465,605 472,632 Page 17
An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 August 2024 Analysis of Professional fees Year Ended 2024 Year Endcd 2023 Audit Renumeration 2,494 2,493 Net (outgolng)I Incomlng rosources for the year Year Ended 2024 Year Ended 2023 Net {outgoing)/ incoming resources is stated after charging: Auditor's remuneration 2,494 2,493 Page 18
An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 August 2024 10. Staff costs Year Ended 2024 Year Ended 2023 Wages and salaries Social security costs Other pension costs 81,497 7,080 23,028 84,300 4,934 19,532 111,605 108,766 Number of employeos The nuinber of employees who earned more than £60,000 during the year was as follows: 2024 Number 2023 Numb¢r £60,001 to £70,000 The average monthly numbers of employees during the year, calculated on the basis of full time equivalents, was as follows: 2024 Number 2023 Number Number of staff 11. Taxation As a cliarity, An Ciste Inffieistioclita Gaeilge is exempt from tax on income and gains falling within section 505 of the TeS Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to ils cliargeable objects. Accordinglyg no tax chllrges have arisen in the charity. 12. Debtors 2024 2023 Other debtors Investment Interest 2,216,137 3,344 2,182,072 23 2,219,481 2,182,095 Page 19
An Ciste Infheistiochta Gaeilge (A Company Limited by Guarantee) Noles to the accounts for the year ended 31 August 2024 13. Crcditors: amounts falling due witbin one yoar 2024 2023 Bank overdrafts Taxation and social security Accruals (See Note 14) Deferred iiicome (See Note 14) 1,479 12,374 359,034 1,571 8,763 1,046,499 372,887 1,056,833 14. Prior perlod adjustment The coniparative amouiits for the prior period for capital grants have been restated to reflect the amounts Iliat liave been paid rather than the amounts agreed. The impact of this adjustment on tlie prior period StateInent of financial Activities shows an decrease in the restricted income relating to Department of Communities Capital Fund income from £340,000 to £IOO,000, and a decrease in restricted expenses relating to the Department of Communities Capital Grants paid from £340,000 to £1 00,000. Th¢ impact of ihis adjustm¢nt on the Balance Sheet reflects an increase in tl)¢ amount of Dcpartment of Coinmunities income deferred from £760,000 to £1,000,000 and decrease in the accruals relating to Capital Grants agreed from £248,763 to £8,763. 15. Movements in Funds At At I September Incomlng Outgoing 31 August 2023 resources resourccs 2024 Restricted funds: Total restricted funds Unrestrlcted funds: Total unrestricted funds 1,532,102 624,551 (624,551) 1,532,102 953,423 265,410 (123,758) 1,095,075 Total funds 2,485,525 889,961 (748,309) 2,627,177 Page 20
An Ciste Intheistiochta Gaeilge (A Company Limited by Guarantee) Notes to the accounts for the year ended 31 August 2024 16. Analysis of net assets between funds Net current assets Total funds Restrlctod Income Funds: Capital Fund 1,532,102 1,532,102 Unrestricted Income Funds: 1,095,075 1,095,075 2,627,177 2,627,177 17. Cash and cash equlvalents 2024 2023 Casli at bank and in hand 780,583 1,360,263 18. Related Party Transactions There was a loan of £2. Im given to a company in December 2017, of which the company is a director and shar¢holder. Included in consultancy fees is a payinent for £3,000 made to a board member for services provided. 19. Limited by Guarantee Tlie company is limited by guarantee and does not liave a sl)are capital. All of its members must contribute to the assets of the company in the event of winding up in an amount not cxceeding £1 O per member. 20. Controlling interest Controlliiig interest rests with the Board of Directors. 21. Post Balance Sheet events No significant events liave taken place since the year end that would result in adjustments to 2024 financial information or inclusion of a note thereto. Page 21