Llonra Uladh Teo IA Company IlmStod by guar•nl••. not havlng •' $har• ¢apltall Annual Report and Unaudited Financial Ststements for the financial year ended 31 December 2023 Quarter Chartered Accountants St Anne's House 15 Church Street Cathedral Quartor Belfast BT11PG "ADCDP97K* 2510912024 COMPANIES HOUSE A21
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Company Number: N1611890 Charity Number: 104804
Lionra Uladh Teo IA Company Ilmlted by guarantso. not havlng a shar9 ¢opltal} CONTENTS Pago Trustees, and Other Information Trustees, Annual Report Statement of Trustees, Responsibilities Independent Examinels Report Statement of Financial Activities Surnmary Income and Expenditure Account 10 Balance Sheet Notes to the Financial Statements 12-16
Llonra Uladh Teo (A Company Ilmlted by guarant. not havlng a $har• ¢apltsl) TRUSTEES. AND OTHER INFORMATION Trustsès Pol Mac Cana Maire Nic Fhionnachtaigh Aine Nic Gearailt Fergus O'Hare Gearoid O Caireallain Company Secretary Maire Nic Fhionnachtaigh Charity Number In Northern Ireland 104804 Company Ro918tratlon Numbor N1611890 fteglstered Offl¢g and Prln¢lp•l Addre88 30 Sraid Dhubhaise 8eai Feirste Aontroim BT12 4AL Independont Ex•rnln?r Quarter Chartered Accountants Sl Anne's House 15 Church Street Cathedral Quarter Belfast 8T1 1PG Principal Bankers Ulster Bank Unit G lNes00d Centre Belfast BT1198Q
Lionra Uladh Teo IA company limited by guarantw, not havlng a share PitalI TRUSTEES. ANNUAL REPORT for thè financial year ended 31 Oecember 2023 The trustees psent their Trustees. Annual Report, combining the Directors, Report and Trustees, Report, and the unaudiied financial statements for th8 financial year ended 31 Decèmber 2023. The financial Statements are prepared in accordance with the Companies Act 2006, FRS 102 'The Financi81 Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Slalement of Recommended Practicé applicablé lo charities prèparing their financial ststemenls in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} The Trustees, Report contains the informalion required to be provided in the Trustees, Annual Rèport under the Slatement of Recommended Practice ISORPI guidelines. The trustees of the company are also charity trustees for the purpose of charity law and under the company's conslitution are known as mémbers of the board ol trustees. In this report the Ifuslees of Llonra Uladh Tèo prèsent a summary of rts purpose. governance, activities, achievements and finances for the financial financial year 31 December 2023. The company is a registered charity and hence the report and results are presented in a fo which complie5 With the requirements ol the Companies Act 2006 and. although not obliged to comply with the Statement of Recommended Practi applicable in the UK and Republic of Ireland FRS 102. the organisalion has implemenled ils recommendations where relevant In these financial statements. Ml•lon, Oblè¢tlv•• and Strategy MIs8lon Statoment The mission of the organisalion is to promot8 cultural. economic and soclal regeneration, advan community development and promote the relief of poverty ond social exclujion. The principal activity of the charity is the development ol a purpose-built broadcastin9. sound recording, media training and archiving centre as a home for the Irish language community radio servic. Raidio Faille, Oble¢tlve• Assist any charitable. voluntary or community body or bodies which assistance m8y Include informing the community ol thelr activities. Promote such other exclusively charitable purposes in accoriJan¢e wlth the18w of charity in Northern Ireland as may from lime to time be delemlined. Strategy The centre, Llonra Uladh, which was first occupied in Odober 2018. makes an Important, straleglc conlnbution lo the growth of Gaellachl Quarter economic regeneration plans and to the on4oing development of an Irish language media and community infrastruclure. The Board of Directors wish to keep on record our gratitude to the wide range of community and statutory stakeholders who supported the Llonra Uladh capital build project al 30 Sraid Dhubhaise {compleled October 2018> - in particulaf Belfast City Council. Department for Communities, An Cisle Inlheisllochta Gaeilge, the Alpha Programme. Foras na Gaeilge, Nl Screen-ILBF, Raidiè Failte staff and volunteers and the many community stskeholders, both individuals and organisalions who supported the capital build. The Board of D1CtorS also gratefully acknowledge the contribution of Nl Housing Executive and Department of Infrastructure in relation to transfer of land in the form of community assèt transfer 8gr8em8nts. Slructure, Governanco and Management Structuro Llonra Uladh Teo was granted charrtable status by the Charity Commission of Northem Ireland {effectiV8 4 March 20161 To manage the building phase of the capital development, a Memorandum of Understanding {MOUI was agreed beeen the capital fvnding bodies and Lionra Uladh Teo, with the Department of Communities acting as the central fvnding adminislralive contact point throughout. Conveyancé of land betsvèèn Department of Infrastructure and Llonra Uladh T80 was agreed. dated 13 January 2017, th Department of Infrastructure having responsibility for upkeep and repair of the (Westlink off slip) retaining wall. The Department of Infrastructure retain right ol access to the demised premises to fulfil this conditson.
Lionra Uladh Teo IA company Ilrnit•d by guar•nt¢e, not havlng a sharn eapltsll TRUSTEES, ANNUAL REPORT for the financial year ended 31 Oecember 2023 A 999-yèar lease dated 6 Dember 2018 was made betsveen Northem Ireland Housing Executive and Llonra Uladh Teo, èffectsve from 9 October 2018. A 25-year full-repairinglfull-insuring lease, dated 8 December 2018. was granted by Llonra Uladh Teo to Raidio Faille Teo, effective from 9 October 2018. Raidio Failte Teo operate the building and extemal areas as an Irish languag8 community resource. The building defects period was concluded during this financial year with all monies due to thè Design Team, Building Contraclor and others now fully paid up. Llonra Uladh Teo Is cognisanl of ongoing requirements lo ensure that the building is kept in good repair. During th8 course of the 2020 financial year, steps were laken to put agreèments in place to Iransfer a section of the site on which the Llonra Uladh - Raidio Failte building is located to Divis Joint Development Committee, in pursuanc8 of their charitsble objectives. The lease agreement was si9n8d by the parties {RaidiO Faille Teo & Oivis Joint Development Committee) on 8 November 2022, with the stsrt date of th8 lease being 1 October 2022 and the end dale 30 September 2027. The rent is £1.00 per annum lif collected). The Permitted Use permits the Lessee lo use the Oemised Premises as an èxténsion of children's play area and small events area for children's activity or such other use which the Lessor consents to in writing. The Directors of Llonra Uladh Teo ara satisfied that this supports the mission and charitable objectives of the organisation. Incomo During the financial year the principle source of Income was that ol rental Income for the use of the building which accounts for all income in the accounts. There was no additional grant funding reiVed during this financial year. Flnanclal Results At thé end of the financial year the company has assets of £1,769.880 {2022 £1.788,901) and liabilities of £2,672 {2022 - £2,447). The nel assets of the company have decr8ased by £{19,2461. Resepies Posltlon and Policy The trustees have considered the level of unrestricted reserves the charity should hold. As the building was fully funded by the respective funders, to be ulilised in the charities activities, the trustees do not believe there 15 requirement to hold unreslriclèd reseThes. The trustees will continue to ieview this policy as the charities activities continue. Trustees The current trustees are as sel out on page 3 Pol Mac Cana Maire Nic Fhionnachlaigh Aine Nic Gearailt Fergus O'Hare Gearold O Caireallain In accordance with the Conslilulion, the trustees may be appointed by an ordinary resolution or a dec18ion of the directors. The secretary who seryed during the financial year was: Maire Nic Fhionnachtaigh Compliance with Sector-W•de Legislation and Standards The company engages pro-actively with legislation, standards and c(MJes which are developed for the sector. Llonra Uladh Teo subscribes lo and is compliant with the followng.. The Companies Act 2006 The Charities SORP {FRS 1021
Lionra Uladh Teo IA company Ilmlted by 9uarantee, not havln9 a sharè cap5tall TRUSTEES. ANNUAL REPORT for the finanual year ended 31 December 2023 Approved by tho Board of Truslees on 23 Soptember 2024 and slgnèd on its behalf by: Fergus Tru8t¢g Maire Nic FhSonna¢htslgh TfUBt
Lionra Uladh Teo IA company limlted by guarantee. not havlng a Sharg capltal) STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 31 December 2023 The trustees. who are also directors of Llonra Uladh Teo for the purposes of company law, are responsible for preparing the financial statements in accordan with applicable law and regulations. Company law requires the trustees as the directors to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial slalemenls in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Entities}. Under company law the Iruslees must not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of the company and of the surplu5 or deficit ol the company for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and apply them consistently,. make judgements and eslimales that are reasonable and prudent., stste whether the financial slal8ments have been prepared in accordance with the relevant financial reportlng framework. identify those standards, and note the effect and the reasons for any material departure from those standaTds'. and prépare the financial slatem8n18 on the going concem basls unle$$ it is inappropriate to presume that the company will continue in operation. The Iruslees confim Ihal they have complied wlth the abov8 requirements in preparing th8 financial statements. The trustees are responsible for keeping adequate accounting records that are sulficienl to show and explain the ompany's transactions and disclose with reasonable a¢¢uracy ot any time the financial position of the company and enable them lo ensure that the financial slalemenls comply with. They are also responsible for safeguarding the assets of the company and henrA for taking reasonable Steps for the prevention and d8te¢lion of Iraud and other irregularities. Approvod by the 8o•rd of Tru•t•¢• on 23 Stptgmb•r 2024 and slgnod on It8 bèhall by: F¢rgus Tfu•toe are Mairo Nl¢ Fhionnachtslgh Tru•to0
Lionra Uladh Teo IA ¢omp•ny Ilmlt•d by gu•rnnt¢e, not havlng a $har• ¢apltall INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF LIONRA ULADH TEO I have examined the financial statements of the company for the financial year ended 31 Decymber 2023, which comprise the Statement of Financial Activities, the Summary Income and Expenditure Account, thè Balance Sheet and the related notes. R•spe¢tiv• r•sponslb515tleg ot trusto•9 and examlner The company's trustees (who are also the directors of the company for the purposes of company law) a responsible for the preparation of the financial statements in accordance with the requirements ol the Companies Act 2006. The company's trustees consider that an audtt is nol required for this financial year under Chapter 3 of Part 16 of the Companies AGI 2006 and that an independent examination is required. It is my responsibility lo.. examine the financial statements under section 65 of th8 Charities Acl., follow the procedure5 laid d¢)wn by the general Diroctions given by the Charlty Commission for Northem Ireland under section 6519}Ibl of the Charities Act.. and state whether particular matters have come to my attenlK)n. Ba•ls ol Indep8ndent examlnefs report I have examined your company financial statements as required under section 65 of the Charities Act and my examinalion was carried out in aCrdance with the general Directions given by the Charity Commission for Northern Ireland under section 65191{bl of the Charities Act. An examinallon includes a review of the accounting records kept by the company and a comparison of the finanual statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statemènts and seeking explanations from the trustees concerning any such mattèrs. The procedure$ undertaken do not provide all the evidence that would be required in an audit and consequently no opinion Is given as to whether the accounts present a 'true and fair. view and the report is limited to those matters set out in the statement below. In connection with my examination. no matter has come to my attention which gives me cause lo believe that in, any material respect.. accounting records were not kept in accordance with section 386 of the Companies Act 2006 the financial slalements do not accord with those accounting récords the financial slalemenls have not been prepared in accordance wilh the accounting rèquirements of section 396 of the Companies Act 2006 and with the methods and principles of Ihe Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS1021 there is further informats'on needed for a Proper understanding of the accounts to be reached. Indep•ndent eximlnorf• otatom•nt I have no concerns and have come across no other matters in connection with the examination to which attènts'on should dfawn in this report in order to enable a proper understanding of the financial statements to be reached. QUARTER Chartered Accountants st Anne's House 1 S Church Street Cathedral Quarter Belfast BT1 1PG Date: 23 September 2024
Lionra Uladh Teo IA company limited by guarantw, not havlng • Share Capltsll STATEMENT OF FINANCIAL ACTIVITIES for Ihe financial year ended 31 Oecember 2023 Unrestrictèd Endowment Funds Fund8 2023 2023 Total Unrestncted Endowment Fund8 Funds Funds 2023 2022 2022 Total Funds 2022 Nots8 In¢omlng Resources Activities for generating funds 21,600 21,600 21,600 21.600 R080urc08 Expond•d Charitsble activities 3,937 36,909 40,846 3.764 36.355 40.119 Nèt Incomlngloutgolng r••our¢e• before tr•n•fer• 17,663 136,909) (19,246) 17,836 (36,355) (18.519) Gross transfers beeen funds Nel Movement In fundi for th• flnancial y•ar 17,663 {36,909) 119,2461 17,838 (36.3SSI (18.519) ReconcS1Satlon of funds: Total funds beginning of the year 11 68,079 1,718,37S 1,786,454 50,243 1,754.730 1,804.973 Total fund• al th• •nd of the year 86,742 1,681,466 1,767,208 68.079 1,718.375 1,786,454 The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate lo continuing activities. The notes on pages 12 10 16 form part of the finandal stslements
Lionra Uladh Teo (A company Ilmlted by guaranteo. not having a share capitsll SUMMARY INCOME AND EXPENDITURE ACCOUNT for the financial year ènded 31 Décemb8r 2023 Statement of Financial Activities 2023 2022 Gross income Unrestricted funds 21,600 21,600 21,600 Totsl income Total expendlture 21,600 (40.8461 21,600 (40,1191 N?t Incomel(exp•ndlturo 119,2461 {18,5191 The company has no recognised gains or losses other than the results and cash flows for the financial yéar. The results for the financial year have been calculated on the historical Gosl basis, The notes on pages 12 10 16 form part of the financial statements 10
Lionra Uladh Teo IA company limited by guarantee, not havlng a shar9 ¢apltal) Company Numb•r: N1611890 BALANCE SHEET as al 31 December 2023 2023 2022 Notes Flx•d A88•ts Tangible assets 1.658.151 1,667,308 Currènt Assets Oebtors Cash at bank and in hand 24,719 87,010 24,722 96,871 111.729 121.593 Credltors: Amounts falllng due wlthln one year (2,6721 {2.4471 Nel Current Assets 109,057 119,146 Tolal A•set4 less Current Llablllllo9 1,767,208 1.786,454 Funds Endowmenl funds Income funds: General lund {Un$trICted) 1,681,466 1.718.375 10 85,742 68,079 Total lund• 11 1,767,208 1,786,454 These financial slalemenls have been prepared in accordance with the special provisions relating lo small companies wilhin Part 15 of the Companies Act 2006. For the financial year ended 31 DerRmber 2023 the company was enlllled lo exemption from oudil under section 477 of the Companies Act 2006.. and no notic8 has been deposited under section 476. The trustees confinn that the members have not required the company to obtain an audit of ils financial statements lor the financial year in question in accordance with section 476 of the Companies Act 2006. The Iruslees acknowledge their responsibilities lor ensurlng that the company keeps accounting records which comply with section 386 and for preparing financial 51alements which give a true and fair view of the 51ale of affairs ol the company as al the end of the financial year and of its profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otheVIse comply wilh the requ1mentS of the Companies Acl 2006 relating lo financial statements, so far as applicable to the company. The financial slalemenls havé béén prepared in aecardancè wth th8 provisions applicabl8 lo comp8ni8s subject lo the small companies, regime and in accordanc8 with FRS 102 'The Financial Reportin9 Standard applicable in the UK and Republic of Ireland" applying Sects'on 1A of that Standard. Approved by the Board of Trustses and auth0ri58d for issue on 23 September 2024 and signed on Its behalf by Fergu Truste 'Hare Mairo Ni¢ Fhionnachtaigh Trustee The notes on pages 12 to 16 form part of Ihe finaneial sL8lements 11
Lionra Uladh Teo IA company Ilmltod by guaranteo. not havlrtg a shar• captlall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 GENERAL INFORMATION Llonra Uladh Teo is a company limited by guarantee incorporated in Northern Ireland. The régistered Offi of the company is 30 Sraid Dhubhaise. Beal Feirste, Aontroim, BT12 4AL which is also th& principal pla of business of the company The financial slalements have been presented in Pound {£) which is also the functional currency of the company. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounts'ng policies have been applied consistenuy in dealing with items which are considered matèrial in relation to the charity's financial statements. Ba¥18 of pr8paratlon The financial slalernents have been prepared on the going concern basis under the historical cost convention, modified to include certain items at faif value. The financial slalernènls have been prepared in accordance with the Statement of Recommended Piaclice ISORP) "Accounting and Reporting by Charities preparing Ihelr accounts in accordance with the Financi81 Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Sectson 1A of that Standard. As permitted by the Companies Act 2006, the company has varied the stsndard fOal5 in that act for the Statement of Financial Activities and the Balance Sheet. Departures from the standard formals are to comply with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that SORP. Statement of compllance The financial statements of the company for the financial year 8nded 31 Decembef 2022 have t)een prepared on the going concèm basis and in accordance wilh Ihe Slalemenl of Recommended Practice ISORP) "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Slandard. Incomlng R080ur¢•8 Voluntary income Of capital 1$ included in the Slalemenl of Financial Activiltes when the company is legally entitled to it, its financial value can be quantified with reasonable certainty and there is reasonable certainty of ils ultimate receipt. Enlillement lo lègacies is conSided established when the company has been notified of a distribution to be made by the executors. Incoma received in advance of due performance under a contract is accounted for as deferred income until earned. Granls for activities are recognised a5 income when the related conditions for legal enb'llémenl have been met. All other income is acwunled for on an accruals basis. R••ourcfr8 Expended All resources expended are accounted for on an accruals basis. Chafitable activities include costs ol services and gfants, support costs and depreciation on related assets. Costs of generating funds similarly include fundraising aclivilies. Non-staff costs not attnbuted lo one category of activity are allocated or apportioned pro-rala to the staffing of the relevant sérvice. Finance. HR, IT and administrative staff costs are directly attributable lo individual activities by objective. Governance costs are those associated with constitutional and slalutory requirements. Tanglblo flx•d a89ets and depre¢latlon Tangible fixed assets are stated at cost or al valualion, less accumulated depreciation. The charge to depreciation 15 calculated to write off the original cost or valuatson of tangible fixed assets. le55 their estimated residual value. over their èxpected usefvl lives as follows". Long leasehold propety 2% strah1 line btor8 Debtors are cOgnised at the settlement amount due after any discount offered. Prepayments are valued 81 the amount prepaid net of any trade discount5 duè. Income recognised by the the cornpany from govemmenl agencies and other cTrfunders. bul not yet received at year end, is included in debtors. Cash at bank and in hand Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. 12
onts.nued Lionra Uladh Teo {A company Ilmlted by guarant. not havlng 4 8har• capltall NOTES TO THE FINANCIAL STATEMENTS for thè financial year ended 31 Dember 2023 Taxation No current or deferred taxation arises as the company has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. INCOME OTHER TRADING ACTIVITIES Unregtrlcted Restricted Funds Funds 2023 2022 Other Irading activities 21.600 21,600 21.600 EXPENDITURE CHARITABLE ACTIVITIES Dlre¢t Costs Oth•r Costs Support Costs 2023 2022 Governance costs 40,846 40,846 40.119 SUPPORT COSTS Charltabl• Activllles 2023 2022 General office Legal and other professional fees Bank Charges Indépendent Examinalionl Audit Fees Depreciatson 1,480 13 1,480 13 62 2,382 36,909 1.362 20 2,382 36.355 2.382 36,909 40.846 40,846 40.119 ANALYSIS OF SUPPORT COSTS 2023 2022 General offlce Legal and other professional lees Bank Charges Independent Examinationl Audit Fees Depreciation 1,480 13 62 2,382 36,909 1.362 20 2.382 36,355 40,846 40.119 NET INCOMING RESOURCES 2023 2022 Nèt Incoming Resource8 arn stated after charglngl(cr•dltlngl: Depreaation of tangible assets Independent Examinerfs rèmunaralion.. independent examination services 36,909 36.355 2,382 2.382 13
continued Llonra Uladh Teo IA company IlmStgd by 8uarant¢t, not havlng a 8h•re copilo11 NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 TANGIBLE FIXED ASSETS Long leasehold prop•rty Total Cost At 1 January 2023 Additions 1,817.694 27,752 1.817.694 27,752 At 31 Dec8mbér 2023 1,845,448 1,845,446 Depr¢clatlon At 1 January 2023 Charge for the financial year 150.386 36.909 150,386 36,909 At 31 Oecember 2023 187.295 187,295 Net book value At 31 December 2023 1,668,151 1,658,151 At 310ecemb&r 2022 1.867,308 1.667.308 DEBTORS 2023 2022 Trad8 debtors Other debto 1,977 22,742 1.980 22,742 24,719 24.722 CREDITORS Amounts falling due wlthln one year 2023 2022 Accruals and delerre(l income 2,672 2,447 10. RESERVES 2023 2022 At the beginning ol the year Deficit for th8 financial year 1,786,454 (19.2461 1.804,973 (18.519) At the end ofthe year 1,767,208 1,786,454 11. FUNDS 11.1 RECONCILIATION OF MOVEMENT IN FUNDS Unr••tricted Endovmiont Funds Funds Totsl Funds At 1 January 2022 Movement during th8 financial year 50,243 17,836 1,754,730 {36,3551 1.804,973 (18,519) At 31 December 2022 Movement during the financial year 68,079 17,663 1.718,375 (36,9091 1.786,454 (19,246) At 31 December 2023 85,742 1,681.466 1,767.208 14
continued Llonra Uladh Teo {A company Ilmiled by guarantee, not havlng a $haro capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 Defflber 2023 11.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 January 2023 Income Expenditure Transfers 8alanee betwoon 31 Decomber funds 2023 Endowmoni fund$ Department for Communities An Ciste Belfast City Council Alpha Programme Foras na Gaelige 494,076 294,222 873,470 46,123 10,484 10,614 6,320 18,763 987 225 483,462 287,902 854,707 45,136 10.259 1.718.375 36.909 1,681,466 Unrèstrletèd fund• Unreslricled General 68,079 21,600 3,937 85.742 Tolal fund• 1,786,454 21,600 40,846 1,767,208 11.3 ANALYSIS OF NET ASSETS BY FUND Flx?d a88018 - charlty use Curront a88•t8 Curr•nt Ilabllltle• Totsl Endowment capital PeThnanenl 1.658.151 23,315 1,881,466 unstncled general funds 88,414 12,672 85,742 1,658,151 111,729 12,672 1,767,208 12. STATUS The company 1$ limited by guarantee not having a share capllal. The liability ol the members 1$ limited. Every member of the company undertakes to contribute to the assets ol the company in the event of ils being wound up whilg they are members, or within one year thereaftér. for the payment of th8 debts and liabilities of the company contracted before they ceased lo be members, and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves. $u¢h amount as may be required, nol exceeding £ 1. 13. ReLA TED PARTY TRANSACTIONS Raidio Failte Teo Dr POI Mac Cana, Ain8 Nic Gearaill, Gearoid O Caireaiiain and Fergus O'Hare are directors in both Llonra Uladh Teo and Raidio Faille Teo. As at 1 January 2023 thère was a balance owéd from Raidio Faille Teo to LSonra Uladh of £1,980. During the reporting period the was net movement of £3. As at 31 December 2023 there was a balance owed to Llonra Uladh from Raidio Failte Teo of £1,977. 14. POST4ALANCE SHEET EVENTS There have been no signifirAnt events affecting thé company since the financial year-end. 15
continued Lionra Uladh Teo IA company Ilrnited by guarantee. not havlng a share capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 December 2023 15. CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY The following are the Critical judgements and estimates that the Trustees have made in the process of applying the charity's accounting policies and that have the most significant effect on the amounts recognised in th8 financial stat8m8nls'. Depreciation and useful lives of Tangible Fixed Assets The depreciation rates are based on expected usefvl lives of the relevant assets. Thé estimates and underlying assumptions are reviewed on an ongoing basls and could have a material impact on both the results for the year and the financial positson if altered. 16