Lionra Uladh Teo IA Gomp8lly Ilmlt•d by guarr•nts¢. not havlnB• oh•T• c11•1) Annual Report and Unaudited Flnancial Ststements for the flnanclal year ended 31 December 2024 Quartor Chart•rnd Accountsnt8 Sl Anno'0 Houso 16 Church Strn•l Cathodrnl Quartar Belfast BT11PG 'AEAUF7S3* 1110912025 COMPANIES HOUSE A05
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Company Number. N1611890 Charlty Number: 104BO4
Lionra Uladh Teo (A company lkntt•d ty guaraiim ftotha¥b)g a•lw• pIla1) CONTENTS Pago TnJstee8' end thar Infonrati Twstaes, Annual Report Statement of Trustees, Responslbilitles Independent Examln•f8 Report Statement of Flnandal AcUvftle8 Summwy Income and Expendlture Attount 10 8alanc8 Sheel 11 Notes to the Flnanclal Stalement8 12-18
Llonra Uladh Teo (A COmPRny Ilmltod by 08rn¢99, nol hovlng • ohar• c•pllall TRUSTEES. AND OTHER INFORMATION Or POI Mac Cana (ReshJned 11 March 2025) Maira Nlc FNonnachtalgh in8 Nic Gearai Férgu8 IYHar8 Gear0 O Calrèaiiain {Reslgned 20 Deehmber 2024) Claran O Pronntalgh (Appointed 23 Septemb&r 20241 Company Socretsry Maire Nic Fhlonnachtalgh Charlty Numbor In Northorn Imland 104804 Company Roglrytratlon Numbor N1611890 Ro918t•rod Offlco and Prfnclpol Addre•8 218 Cultlitlann Mc Adam O Flalch Bothar N8 BhFai Béal Felr8te BT12 6AH Ind•pendont Examln•r Qu8rt8r Chartered Accountant8 st Anne'8 Houso 1 S Church Streèt Cathedral Quarter B8ff88t BT1 IPG Prlnclpal Bankars Ulster Bank UnilG W68dvood Centre Belfast BT119BQ
Llonra Uladh Teo {A COMry Ilmttod by BunO, not havlng a #harb eapttao TRUSTEES. ANNUAL REPORT for the fknanci81 year end&1 31 Dec4mber 2024 The trustee8 pr88ant their Tw8t8è8' Annu81 Report. comblning lh6 Llrectorg, Report and T60, Report and tho un8udrt8d finanelal 8talem8nts for ts financlal yaor erthd 31 Detambar 2024. The finandal ststsments are prepa In ac¢ordan( wtth th6 C¢)mpanles Act 2008. FRS 102 Yhe Financlal Reporting Standard aFpllcable In the UK and Republic of Iraland" and Accounting and R8PLYting by Charllles.. Stslemont of Recomme10d Practfc4 appllc4bl8 io ¢arltl88 1)r8parwig Ihelr flnanclal 8tstement8 In accordan wlth the Flnanclql R6portlng StarKlal gpplIc8b In thè UK and Republk ol Ireland (FRS 11r2). Tho Trusts8s' Report eontsln8 th6 Infom8llon raqulred to be provload In th& TN8tees' Annual Report undér the statemont of R8oJnmefid8d Practke {SORP) guid8lln88. The truste8s of th8 company ar8 also charrty trustets for th8 purp086 of charlty law ar under tho companV8 ci)n61Jluilon are known 08 member8 of th8 board of Irust88s. In th18 report tho tN8te88 of Llonra U18dh T80 present a 8ummary of It8 pu088, gOrnan, advftl88, o¢h18vements gnd lIn8n8 lor the fftnandal finandal year 31 ()ecambar 2024. The rnpany 18 a reo18téréd charty and herKe thè roport and rn8ulls aré presented In a form whith mplIeS with t requlrement8 of the Companle8 Act 20(A and, altrgh not oblio8d to )mplY wlth the Stslemènt of Rewmmended Practtce appllcable In Ihe UK and Republlc of Ireland FRS 102, the wganigAllon ha• impl•mwrted I recommeTr3a0ns whero relevant In th888 financlal 8tatements, M189lon, ObJecllvo8 and Stratogy Ml8•lon Statomont The ml8slon of the oryonl8alh)n 18 to profflote cultural. emnomlc and god81 reqenaratlon, advan canrnwilty development arKI promoto the rollef of poverty and sodal oxclu810n. The prlnclp81 activity of the ch8rtty 18 the development of 8 purp08&bulft bro8tsa8tlng, 80urKI mconllng, media training and orthlNrfng rtra as a ho for th&1rf8h language comrnunlty radlo 88rvI, R•ldlO Faiit•. Objoctlvea A88lst any charftablo, voluntary or cornmunity body or btyJle8 whlth &88i8tsncé may Include infom)INJ tho communlty of theSr 8IXlvftl88. Promote 6uch other ex¢lusl¥ety charftable purpo608 In accordanc with tho law of charfty In Northm lrnland as may trom tymo to Wme bo detsmined. Tho c8ntre, Llonr8 Uladh. whlch wa8 flr8l 0¢p1ad In October 2018, makeB an Import8nL Btralegic contiibullon lo tho growth of Gaelt8cht Quaty éeA)nomlc regeneration plan8 ond to th8 On4ng development of an Ir18h 1ongu8qa media and (MmUnIty Infr8StfuctyJra. Th8 Board of Dlroclor3 wi8h to keop on record our gratrtude to tho lyldo r8rvJe of commurity and 4ialutory $tak8hokl&rn who Supported tho Llonra Ul&dh capltal bulld Pfolt at 30 Sraid Ohubhai88 (completed Octobw 2018) - In P8cUlAr B81188t Clty Councll, Department ftir Communlti8s, An Cl8t8 Infftel#tlochla Ga810, tho Altha Prtsaramrne, Fofa8 na G881108, Nl SNeeTrlL8F, Raldk) Faiito gtsff and volunteer9 and the many oommunlty 8tak8holders, both Inth¥hJuAI8 and organtsalion8 vtho supported the c8pItsI build. Tho 8oard of Dlrectors atso gratalully 8cknowl8dgo the Gontributlon of Nl HouslrvJ Executlve and Departrnent of Infr88tnJ¢tyre in relation to transfer of land In the form of communlty a88et transfor agr8ament& 8lnictsiM, Oovéman¢• •nql Managgm•nt SINctuvo UonTa Uladh Teo was granted Charitable statug by the Charity Ccm)m188lon of North8m Ireland (effectivo 4 March 2016) To manage the bull¢Jlng pha80 of the capital development, a Memorandum of UndeF8tandlng IMOU) was agreed beknn lh& cApltal fvndlng bodi68 and Llonra Ul8dh Teo, with tha Department of Communttloj acttng as the wtral lundlng admlnlslrative contact polnt throughoul. Con¥ey8nco of land b8knen Oepathwrt of Infrastrudure and Llonrn Uladh To0 was 8gre8d, dated 13 January 2017, wllh Depathent of Infra8trLKtuYe han9 responslbllity for upke8p arml repair of tho (Wesulnk off sllp) retslnlng w811. Tho 08p8rtment ol InfraBINcturg retakn rtghl of a¢(8* tt) the dem188d praml8e8 to fvlfil this ¢ondllk>n.
Lfonra Uladh Tgo (A company lknlt•d by 9uaranlfjo, not havkng a 8haTr c•1) TRUSTEES, ANNUAL REPORT for thè flnanclal yèar ended 31 Dacember 2024 A 999-year lèa8é doted 8 Dec8mb8r 2018 wa8 mado bokneon Northwn Ir•land Houslng Exa¢utl¥o and Llonra Uladh Teo, efféctlve from 9 October 2018. A 25-yfrar full-repairingllul14n8un9 la8se. dated 6 D8camb6r 2018. wa8 granted by Llonra Uladli Teo to R8ldlO Failte Teo. offective fr¢)m 9 Ociob8r 2018. Raldlo Faitte operaté tha building and 8Xtemal areas as an Irish language communty r880urc8. The bulkllffj defects Partod wa8 conduded durlng the 2023 finandal year with all mon168 due to tha Deslgn Team, Bullding Contractor and cthers fulty pald up. Llonra Ulath Too l¥ cognlsant of ongoing r8qulromgnt8 to en$urg that the buSldlng 15 kept In good repalr. Durfng the cour8e ot 2020 finandd year, 8tep8 were taken to Fxrt agreements in to transfer 8 saction of the srte on whlth the Llonra Uladh - Rald16 Faimo bulldlng18 loc4tod to Oivi$ Jolnt D8valopment Commltt80. In pursuonGe of th8lr dwlt8bla obl8th08. The lease agreement was slgned by the p8rJes IRaldlO Faiite Teo & Divis Joint Developmenl Commthel on 8 Novambar 2022. wlth the start date of the lease belng 1 Octob8r 2022 and tho end dats 30 September 2027. Ihe rent 18 £1.00 par annum lif collected). Th Pemilted U89 peIts the Le88e8 to Uga tha Damised Prem18eg os an xtenslon ol ¢hlldren'¥ play ar•a and 8mall •vènts are8 for chlldren'8 &clvity or wuch other use whlch the Le88or consents to In wrftlng. The Dlrethr5 of Llonra Uladh Teo are 88118fied ihat th18 8upports the ml88lon and ch8ritsbl8 oblectlve9 01 the 9rg8nlsation. In¢om• Durlng iho finendal yaar the pnCIple sourc of Sncom8 wa8 thal of rental Incom8 for thg usè of thé bulldlng whlch occounts for all in(¥)mo In tha accounts. There was no addlilonal gr lundlng re[l¥ed durlng thle fln8nclal year. Flnanclal Ro8uIt8 At tha ènd of thg finAncl81 year tho rMpanY ha8 a888ts of £1,749,09812023 - £1.769.880) and118blllUo8 of £2,972 (2023- £2,872). The n8t a8Bets of the Lxmnpany have decrea8ed by £(21,0841. Re88rvo8 Po8ltlon and Pollcy The trusteés have considered the 18vel of unrogtthctod re66fVè8 tho charlty 8hould hold. A8 the bulldlng wa8 fijl nd&J ty the re8pectNe funders, lo be uO118ed In the charit188 &rJlvil98. thé knJBteé8 do not b8118ve Ihgre b9 8 requlrnm8nt to hold unre8trct8d ra8erv8s. The tru8t868 wtll Lmjntlnue to roviaw this poll¢y 88 tho charbtle8 activit8 conllnuè. Tru8te•9 The current trusle8s are as set out on page 3 Dr POI Plac Can8 IR08ignèd 11 March 2025> Mairn Nlc Fhlonnacht8igh Ain8 Ni¢ Gearallt FenJu8 O'H8re GaarOW O Calr8aiiain (R8sEgnéd 20 Decembèr 2024) Claran O Pronntslgh l&ppolnted 23 Septsmbor 2024) In acconlance wlth the Cansthrtlon, tho Iru8tees may be appolnted by an ordlnory re801utlon or a decl8lon of the direcioT8. so17etary 98rrfgd durtng lh9 fuwnclal yearwa Malre Nl¢ FhEonnachtsi9h Compllancé wlth soctor.wlde Lo918latlon and Standard8 Thè company engages pro-actlvely with kgi$lation, standards and cLxJes which are developed ftjr the sector. Llonra Uladh Tèo gubscrfb88 to and 18 compliant with ts fp1lovng. Th8 Comp8n(es Act 2006 Tlx CharttigB SORP IFRS 102)
Lionra Uladh Teo IA company Ilmlted by gu•rant¢o", not havlng a share ¢apltall TRUSTEES. ANNUAL REPORT for the financi91 year en¢ed 31 Oecpmbor 2024 Approved b'y. the 8oard of Tru8tsès on 2 Septemb•r 2025 artd 81gnod on It8 b alf bv.. Ine Nlc Ggarallt Trustee ' Pronntai Tru8t••
Lionra Uladh Teo (A cotiipany Ilmrtad by guarantee, not havlng a sharo capltsll STATEMENT OF TRUSTEES. RESPONSIBILITIES for the financial year ended 31 Dember 2024 The Iruslees, who are also director9 of Llonra Uladh'Teo for the purp)ses ol company 18w. are responsible for weparing the financial statements in acoxdan¥Y with appllcable law and regulallons. Company law requir8$ tile Iruslees as tlie directors lo prepare financial slalements for eacii financial year. Under that law th8 trusteès have e18cted lo prepare the financial stalerrients in accordance with United lQngdom Generalty ACpIed Accounting Practice {United Kingdom Accounting Standafds and applicable.lawl including FRS 102 "The Finanaal Reporting Standard applicable in the UK and Republic of Iland. Sectoon 1A (Small Entities). Under company law the trustees must not approve the financial slatements unless they are satssfied that they give a true and fair vièw of the stale of affairs of tr¢a company and of the sulUS or deficit of the company for that period. In preparing those financi81 ststements. th8 trustees 8ffj required to: select suitable accounknng poliries and apY them consistently. inakg judgemgnts and estimales that are reasonable arid prudént slate whether the financial statements have b88n prepared in accordance wlth tha relevant financlal roporting fraMthtO. identsfy thos6 standards. and note the èffect and the reasons for any material departuro from those standards.. and prepare the financial statements on the golng conc4m basis unless it is inappropriate to presume that the. company will conts'nue in operatii)n. The trustees confimi that they have complied with the above requirements in preparing the ffinanal slatements. The tnjslees are r8spon8lble for keeping adequate accounting record5 that are sufficient to show and explaln tha company's transactions 8nd disclose wilh reasonable accuracy al any b'me the finahcial posib'on of the company and enable them to ensure that the finariual statements comply with tho C(Jmpani•s Act 2006. They are also respongib18 for safeguarding the assels of the company and hence for laklng reasonoble Steps for the prevantion and deiectlon ol fraud and other irregularitses. Approv•d by iho Board of Tru819•1 on 2 Soptomber 2026 and 8lgn•d on Its behall by: Ino Nlc Goarallt Tru8t•• Claran Tru•to• Pronntalg
Llonra Uladh Teo ¢¢)mpany Ilmlted ty guarantaè, not havlng a 8har8 eapltsl) INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF LIONRA ULADH TEO I h8v8 8xamlned the flnancial ststsments of thè (xjmpany for the financial ya8r ended 31 Decwnber 2024. whlch ¢omprig8 thé Statsment ol Flnanclal AcU¥iti08. the Summary In¢om& and E>ynditure Account the Balan Sheet and the related notes. RaspoCtlv• r08ponslbllttlo8 of tru8to68 an(1 èxamln•r The company's trust889 (who are al80 the directors of the company ft)r the Pu0$ of company Mv) are re8pon8iblè for Ihe preparailon of the financial statements In 8ccordanc£ wlth th6 requirements of the COmp84n8 Act 2006. The company'5 truste68 ¢on8thr Ihal an audll 58 nol requlred for th18 financial year under Chaptar 3 of Part 18 of the Companie8 Act 20CQ and that an Indep8ndonl oxaminalian h r9qulrBd. It18 my respon8lblllty to.. gxamina the fftnandal Ststements urKler section 85 ofthe Charllas A¢ folkjw thè procedure8 laid down by the gener81 Dlrection8 given by the Charfty Comm1881on for Northèrn Ireland undgr 8edon 85t911b) of th8 CharlUa8 Art and 8tot8 W•tholher pacular mattW8 halt (xjme to my 8ttonOon. Bas18 of Independent •xamlnarf8 rnport I hava 8xamln8d your compgny financial ststsments 88 raqulred under Section 65 of th8 CharHles Act and my exwnlnatson wa8 c4rrbd out in a(urd8nce vllh th8 gèn8ral Dlrection8 olven by the Charlty Commisslon for Northern Ireland under 6e¢tlon 66(9llbl of tho Charttl88 Act, kn oxamlnalion Indud88 a revtvw ol Ihe 8¢courrflTr3 reconlg kept by the Mmpany 8nd 3 comparlson of b)e fin8ncl81 stalem8ntg prèfyenled wllh those réeord•. It 8180 Includ66 onsltsrallon of any unusual Item8 or d18doBur06 In the flnandal statements and eeeklng 8xpl8nation$ from the Siees nCernIng any 8uch matters. Tha procedureg undertakon do not prod? all the adance that would be roqulred In on audlt and cons8qu8nly no oplnlon Is glven as to wwhgr Ihe accounts pte8ent a 'true and frairf and tha report Is Ilmlted to thos8 maltsrs sol out In the 8t81em8nt b810w. In eonnociwjn wlth my 8xamlnalon. no rnattor has come to my attanllon whlch g1 mo cause lo bell6ve that In, any malerfal respect. actounling r8cord8 wern not kapl In accordan wfth 8ectlon 388 of the Compan188 Act 2008 the finando181818m8nts do not accord with Ihoso aixotsntlnu r8u>rd8 the flnandal $tatem8nl8 hgvo not been prepared In •eLordan wilh th• occounlng requlremonts of sectlon 01 tho GiPanIs8 Act 2CA]8 8nd wlth thg m8lhod8 prfncSple8 ol the Siat8m8nt of Retrjmmonded Pradi appllcabl8 to charfll89 prep8rlng their accounts In acL>JrdaneA8 the Flnanclal Reportlng Standard appllcabl8 In the UK and Reputlts of Ireland IFRS102) thorn 1$ lurther Infornation needod for a propBr undor8tsndlng of tho aCunts to b9 real*d. Ind•p•nd•nt oxamln•rf• •tatem•nl I havo no ¢on¢ems and have come auos8 no othor matters In cknnn8¢¥on wlth Ihe examlnation lo which attentton should be drawn In Ihls report In ordor to enable a proper under&tandtng of tho finonaal statsments to reached. QUARTER Chartej Account8ntB St Anne's House 16 Churctt Streot Cathedral Quarter BTI IPQ Dat•: 2 8•plwnb•r 2026
Llonra Uladh Teo (A company Ilmlt•d by gtyarnnteè, not havlng a sharo capllall STATEMENT OF FINANCIAL ACTivrriES for the financlal yegr ondgd 31 DeMbor 2024 Unrn8tr1cted Endowment Fundg Fund8 2024 2024 Totsl Unr8strl¢ted Endowmènt Fund8 Fund9 Funds 2D24 2023 2023 Total Funds 2023 Notè8 Incomlng Re8our¢•• AAlle9 for gernr•llng nd8 21.600 21,800 21,eoo 21,800 R•8ource8 Expondod Charltabla acffvllles 6,775 36,909 42,684 3.937 36,91i9 40.846 Ngt In¢omlngloutgolng rO•oU•• bofora tran•f•rn 16,825 136.909) (21,084) 17,a83 136,W9) (19.248) Gr088 Iran8fvrB betrween fvnds Nat mov•m•nt In fund8 for th• flnifftclal year 15,826 136,909) (21,084) 17,e83 13e.909) (19.248> R•Gonclllath)n ol fund•: Total fvnde b8glnnlng ol Ihe y8ar 11 86,742 1,681,416 1,767.208 88.079 1,718,375 1,788,454 Total fund6 at the ond of tho y•ar 101.067 1.844,667 1,748,124 85,742 1,681,486 1,767,208 The Statement of Flnancl8i Actlvttle8 Inc4ud&8 all golns and108888 recognl88d In the flnandal ya8r. All Inc(*ne and oxpondltsjre relate to ttJnllrwln9 actlvltle8. Th6 nots8 on pages 12 to 16 fom) pgrt ofthe flnandal statgments
Llonra Uladh Too (A compAny Ilmlied by ou•rAnlts. ftot tAvlng 8 sharo capllall SUMMARY INCOME AND EXPENDITURE ACCOUNT for the finandal y88r gnded 31 Dmber 2024 8tatornont of Flnanclal A¢tfvltle8 2024 2023 Gr08s Inme Unr6stiictsd furKf8 21,600 21MIIO 21.eoo Total Ineoma TotAI oxpendlture 21,600 (42,684) 21,800 {40,846) Not In¢omel(•xp•ndI10l (21,0841 {19.248) The cKJmpany ha$ no recognl8ed galns or Ios998 other than th8 r88ultS and cash flows for the IlnanciBI y8•r. Ihe re3ults for the flnandal Or hav8 be8n e41culated on the hlstorlcal 8t bas. not08 on pagee 12 to 18frJmi part of the flmndal sta1ts 10
Llonra Uladh Teo IA ¢ompany limithd by guarants•, not having a share capltsl) Company Numb•r. N1611890 BALANCE SHEET as at 31 December 2024 2024 2023 Note FSxed A8¥ets Tangible assets 1,621,242 1.658,151 Curr•nt A80014 Debtors Cash al bank and in hand 44,706 83.148 24,719 87.010 127,B64 111,729 Cr•dltorn: Amounts falllng due wllhln one y•ar {2,972) 12,872) N•t Current Ass•ts 124.882 109.057 Total AJ•ets IM• cuent Ll•bllltl•• 1,746,124 1,767.208 Funds Endovmient lunds Incom• funds: Goneral fund lunrostrlclgdl 1,644,667 1,681.4186 10 101,667 85,742 Total funds 11 1,746,124 1,767.208 These finahd81 statements ha¥9 beon prepared In accordance wlth the special pfovLNlons relatlng to small componias within Part 15 of the Companies Acl 2008. For the financial year ended 31 Oecember 2024 the company was enlled lo exemption from 8udit under sèctlon 4TT of the Companies Act 2006; and no nolice has been deposlted under section 476. The trustees C£*nfirm th81 tho members have nol reqimred Iha a)mpany to obtaln an audil of its flnancial st8lamants for the financial year h) question in accordance wilh section 476 of the Companies Act 2006. The trustees ockn¢)wledge their te5ponsibilities lor ensuring that the Gompany keeps accounbng tecords which comply with section 386 and for preparing finan¢i81 stat8ments which give a true and lalr vW ol thg stste ol affairs ol the company as at the end ol th8 financial year and ol its profit and loss for the financial year in accordanca wlth the requirements of se¢lion$ 394 and 395 and whi¢h olhemse comply with the requirements of the Companies Act 20C rolats'ng to financial statements, so far as applicabl8 to Ihe company. Th8 financlal stalom6nts havo been prepared in ac¢ordan¢e with the prov5slons applicable to companies subjocl to the small c(impanie$' regime and in accordance with FRS 102 'Tre F.inanclal Reporting Standard applicable In the UK arKI Republic of Ireland" apptying Section 1A of that Standafd. Approv•d by tho 8oard of Trustees ind authorlied lor1•8u• on 2 S8ptemb•r 2025 and •lgn•d on fto bgh•ll by In• Nlc Gearal Tru8te• ran Trust99 Pronn The notes on pages 12 to 16 fom part ol the flnanclal slaiemenls 11
Llonra Uladh Teo (A company Ilrnltod by gu8rontse. not havlng o shBro caplla NOTES TO THE FINANCIAL STATEMENTS ror Ihe flnancial year ended 31 Decnb8r 2(Y24 OENERAL INFORMATION Llonr8 Uladh f80 is 8 panY Ilmltsd by gugrantse Incorporatsd in Northern Ir8land. The reg18tered office of the ¢(¥npany Is 216 Culliirlann MC Adam O Flalch. Bothar Na BhFal, Baal Felr818, BT12 6AH whlch bs algo the priwBI plaGg of bu8lnes8 of the CoMpY The flnandal statemants have been presented in Pound (£1 whlch 18 al80 tha fiJncUonal cunpnGy of the oxnpany. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIE8 Tho followlng 8ccounting polici99 ha been applled cOn$t8ntty In daaling wllh iloms whlch considered material In Tglation to the ch81ity's Iln8nclal Statements. Bafjl• of prgporallon Thè flnancl81 stat8ments hava b8en prep8rod on th9 going CanM basls urnl8rtho hl8torlc¥l cost conventlon, modlll8d to Include C4rtain items at fair valuo. The finand818lat6meDts hava bo8n prepargd In 8ccord8n¢ V) the Statement of ReL¥>mMded Pr8cllce {SORPI 'Ac¢untIftg and Roportlng by Choritlo8 pr8parfng Ihelr ac£ounb In aco)rdance wlth the Finandal R6porting StAndard applkable in the UK and R8publbc of Ireland FRS 102" opplylng Sedon 1A ol that Sf8nd8rd. A8 pomiitted by th8 Companles Acl 2006, tho company has vartad th• at8ndarf fomiats In that act for the Staternenl of FinanGkql AGtivMe8 and ts Balanca Sheet. Departures from the stand8rd format8 are to com wltt) the requlremant8 of tha Charluej SORP 8nd ara In cM)pl1anr with seclion 4.7, 10.8 and 15,2 of thal SORP. 8tatomont of compllancg The Iln8ndal 8tst8m8nts of the company for the finar¢cial ya8r ended 31 December 2022 hav8 been prepared on the golng nCM basls and in 8ccord8n&9 wlth the Staternènt of Re(cmmended Practlc8 ISORP) 'ACntIng and Rewting by Charities preparlng thalr accounlj In aca)rdance wlth Ihe Flnanclal Reportlng Stand8rd applkable In lh• UK 8nd Republlc of Ireland FRS 102" AFptylrrfJ SfAon 1A of that Standard. Incomlng Re¥ourc•8 Voluntary Inccvno or capllal 18 Inded In th8 Ststsmenl of Finandal Aetlvikn when the ¢¢)mpany Is legally entilled to IL its flnancial v8lu& can be quandfled with r088on8bl8 Certalnty and Ihern is rea80nabl8 cortairrty ol t8 ulb'rn8to recelpL Entlvemenl to legacle818 ¢on81der8d establlshed en th6 Company ha8 been notyfied of 8 dl•blbution to b8 made by the executor8. Income Trc•lved In a0nCe of du8 p&rf0nnan under o contrACt18 a¢o)untéd for as dolerred Income unul Oarned. Gronts lor 8cdvlll•8 8r8 recognisad 08 Inc4Jm8 when the r¢la19d condltlon8 for al enllU8mert have been m•L All other Incom018 BGcounted for fm an arual$ b9819. RlrQ•9 Expond•d All resources expended aro aLwuntwJ br on an arxruals basls. Charitable advlkn indude costs of 88MC48 and gr8nt8, 8UPPOrt costs and déprèclatlon on related a8¥et8, Costs of generallng fund8 81milaily itudo fvndrai8lng acilvbllel. Non•sloff costs not altrlbuted to one category of acUvlty ar8 allo¢ated or apwruonad prtrrat8 to the 6tsfflng of th8 rel8vant sep4lce. Finance. HR. IT and 8dmlnl8lrattV8 8taff ¢t$ are direclly ettrbulablo to indlvldual actitIeS by objectlvo. Govemance costs are th088 a8sorA8tod thrfth con8tttution818nd 8tatuW requ1Ments. Tanglblo flxod a•••ts •nd daprnclatlon T8ngibl8 thd 888ets arn 6t8ted ot cost or al v8lu8Uon, less accumulated dapredalton. The charge to d8precIAon Is calcJJl81od lo wrlte oft th¢ originql cost ty valuation of tsnglble nxfjd a890ts, la88 theSr osumated r881dual valuo, over Ihelr expected u88ful IIv88 88 follwg.. Long le88ehold property 2% Straight Ilne Dobtorn Dablorn arn rerxpJnt8ed at thè aetllamant amount dug ofter any disc£iunt offèred. Pr8payment6 aro valued at tho amount prepald nel of any trado discounts due. In¢ome reccqnlsed by tho the company from go¥ommont agendes and other ¢(>&fvnd8rs, bul not yet recelveo al year end. l# Included In debtor5. Cash at bank and In hand C89h 8t bank and in hand c<xnpri5e¥ rAsh on deposlt 8t banks requlrfng le8$ than three month6 rlj¢e of Ihdrw•ml. 12
(¥)ntlnued Lionra Uladh Teo {A company Ilmllod by gu4rant•o, not havlng a 8hav• caplfal NOTES TO THE FINANCIAL STATEMENTS lor tho financl81 year ernled 31 December 2024 Taxatlon No current or dgf8rred tsxatlon aTi589 aB th8 Ccjmpany has been granted charltabb éxempiion. Irreverab valued add&J tsx Is èwensed a9 Incurred. INCOIJIE OTHER TRADING ACTIVIT1&8 Unr••trf¢tsd RfrBtrl¢t•d Fund8 Fun 2024 2023 Other tradirwJ acti1188 21.600 21.800 21,800 EXPENDITURE CHARITABLE ACTivillES Dlr•ct CMt8 other Co•tA 8upport Costs 2024 2023 Gov8rn8neè costs 42,884 42,884 40,846 SUPPORT C08TS Charltabl• Actlvltl•8 2024 2023 Genoral offi Legal and other profg581ono1 f•e• 8ank Charges Indep8ndgnt Examinauonl Audll Feos Depreciailon 3.316 13 3,316 13 1,480 13 62 2,382 3e.909 2,382 31909 2,382 36.909 42,684 42,eB4 40.848 ANALY818 OF 8UPPORT CO8TS 2024 2023 Genèral offl¢• gal and oth8f prof8sslonal fe89 Bank Chargèa IrKJepondont Exarnlnatlonl Audit FeeB Oeprnciotion 3,316 13 1,480 13 82 2,382 36.909 2,382 36,909 42,684 40,846 NET INCOMING RESOURCES 1024 2023 N•t Incomlng RooQu05 aro 8tst•d after charglngl(crndltlng): Oaprecl8Uon of larydiblo 8s86ts Indgpendent Examinef8 remunernlion,. - Indapandont 8xamlnatlon aanrtj 36,909 36,909 2,382 2,382 13
continued Llonra Uladh Teo IA ¢ornpany Ilmlt•d by guorant•o, not havlng tt capltml NOTES TO THE FINANCIAL STATEMENTS lor th8 flnanclal year 8jed 31 Dernber 2024 TANGIBLE FIXED ASSETS Long lea8•hold propoty Totsl Cost At 31 Decamber 2024 1,845,446 1.845,446 Deproclailon At 1 January 2024 Charge for thè financlal year 187,206 36,909 187,296 36,909 Al 31 DacA8mb8r 2024 224,204 224.204 Nat Ix>ok valug At 31 Dacamb6r 2024 1,621,242 1,621,242 Al 8100mber 2023 1,868,1 $1 1,868,161 DEBTOR8 2024 2023 Trade debior8 Other d8blorn 1.964 41742 1.9 22,742 44708 24,719 CREDITOR8 Amounts hlllng du• wlthln on• y•4r 2014 2023 Trod8 cr8dltor8 Accrua18 and dohffqd Incorne 300 1672 2,872 1972 2,672 10. RE8Éftve8 2024 2023 At the beglnnlng of Ihe year Dafidt forthe fin8rKlal year 1.767,208 (21,084) 1,786,454 {19,248) At the end oltho year 1,748,124 1,787,208 11. FUNDS 11.1 RECONCILIATION OF MOVEMENT IN FUN08 Unro•trl¢ted Endowmgrrt Fund• Fund• Total Fund• At1 January 2023 Movement durhg the financ4al year 88,079 1,718,375 17,683 136.909> 1,786,4S4 {19,246) At 31 DeL%mber 21r23 Mov8ment durttw Ihe finandal year 85,742 15,825 1.881,468 (38,909) 1,787,208 {21.084} At 31 De¢*mber 2024 1M,687 1,84667 1.748,124 14
contfnu8d Llonra Uladh Teo (A ¢ompgny Ilmlt•d by guarnnto•, not havlnD a sharo upl NOTES TO THE FINANCIAL STATEMENTS for tho flnandal year endod 31 Dacemb8r 2024 11.2 ANALY818 OF MOVEMENT8 ON FUNDS Balanc& 1 January 2024 Income Exp•ndltuM Transf•r¥ Balanco botrmn 31 December funds 2024 Endowment fund• Departsnont for Communll An Clsto Belfast Clty Council Aipha Programme Fa8 na Gaeltga 483,462 287,SN)2 854,707 45,138 10.259 10,814 8.320 18.763 472,848 281,582 835,944 44,149 10,034 1,681,466 38,9 1,844,557 Unrostrlcted fund8 Unrestdcled G&n6ral 85.742 21,800 5,775 101,687 Totsl fund8 1.767,208 21,600 42.8B4 1,748,124 11.3 AMALYSIS OF NET ASSETS BY FUND Flxod a80Ot• . ¢h•rlty u•• Currpnt Curront Il•bllltl•8 Total Endowment capltal Pennanent 1,621.242 23,315 1.644,567 Unre8tsl¢ted general fiJnd8 104,639 12.972) 101,667 1.821,242 127,804 12,972) 1,746,124 12. 8TATU8 Tha CmpanY l¥ Ilmltsd by guarantéé not havlng a 8haro capltal. liabllity of thè m6mbern18 Ilmltsd, Every member ol tho *XffiP8ny undert8k861o C¥)ntrlbut8 to the a88813 ol the company In th8 of It8 bdng wound up whlle thay are mÈmb•r8, or wItn onè yèar th8r•aftér, for the payment of the debts Ilabllllles of tho cAmp8ny contra(knd beloro they ceased to be memberB. and tho c08ts. ¢harg88 and expen8e8 ofwlndlng up, and ft>r lh8 adjustment ol the rtghts of the ¢ontrlbutot3 among them8elve8. Buch amounl a8 may be uirwj, not excAeding £ 1. 13. RELATED PARTY TRANSACTIONS Raklio Fthlia Teo Dr POI Mac Can8. Aino Nlc Gearallt, Cloran O Pr¢nntslgh and Fèrgu8 0'Hare oro diractors In both Llonr8 Uladh T60 and Raldlts Fallte Téo. Ag at 1 January 2024 thore wa8 a balanc4 frixn Rgidio Faittg Teo to Llonrn Uladh of £1,977. trIng the reporttng rIOd the was net movernent of £13. As at 31 December 2024 there was a balan OV+Èd to Llonra Uiadh from Raldlo Fallte TOD of £1.984. 14. PO8T4ALANCE SHEET EVEKrs Thgre have been no 81gnlficant events allocttng the company slnce the Ilnoncial yoarvend. 15
continued Lionra Uladh Teo IA ¢ompany Ilmltsd by yuar&nt•8, not havlng 4 ghoro ¢8pltsn NOTES TO THE FINANCIAL STATEMENTS lor the ilnandal year ended 31 December 2024 1& CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY Tho followtng are the cdlScal judgements and 88Umatss that the Truste6s have mado in th6 proLX8 of 8pplylng the tharivs aOunty'ng pollcies E4nd that hovo the most 81gnlficant offect on the amounts r8cognl8ed In the finandal gtalements.. Oepredallon gnd u88fv1 Sfve8 of Tanglble Assets The dopreciatlon ratss arg based on expected use1 IIvé8 of thè re¥snt assets. Tho eslmate8 and und8rtylng assumptions Bre revlew8d on an oryolng ba&18 and could have a materlal Impact on both the rn5uIts for the yaAr ar¥J the ffnanclal poshlon If altered. 16