CHARITY REGISTRATION NUMBER: NIC105099 ULSTER-SCOTS LANGUAGE SOCIETY Unaudited Financial Statements 31 December 2022 EPHM RRAY L Chartered accountants 30b MARKET SQUARE DROMORE CO. DOWN BT25 1 AW
ULSTER-SCOTS LANGUAGE SOCIETY Financial Ststements Year ended 31 December 2022 Page Trustees, annual report Report to ulster-scots language society on Ihe unaudited financial infonnation Statement of financial activities Statement of financial position Notes to the financial statements
ULSTER-SCOTS LANGUAGE SOCIETY Trustees. Annual Report Year ended 31 December 2022 The trustees present their report and the unaudited financial statements of the charity for the year ended 31 Dember 2022. Reference and administrative details Registered charity name ULSTER-SCOTS LANGUAGE SOCIEff Charity registration number NIC105099 Prlnclpal office cjo 79 8eechgrove Avenue Belfast BT6 OND The trustees Mr J Erskine Ms S Young Dr P Saunders Mrs A Srnyth Ms Laura Spence Dr Philip Robinson Mr Billy Carlile Mr John Wright (Rets'red 9 November 2022) Accountants JOSEPH MURRAY LIMITED Chartered accountants 30b MARKET SQUARE DROMORE CO. DOWN BT25 1AW Structure, govemance and management The organisab'on is an unincorporated body operating as a society. The Ulster-scots Language Society is recognised by HM Revenue & Customs as having charitable objects for tax purposes under referen XN89678. The Society is govemed by a committee which is elected at each annual general meeting. The OffirS of the society are the Charan, Treasurer and Secretary, who are elected annually by the Committee at ts first meets'ng followng the annual general meeting. The Society is governed by a constitution adopted on 8th November 2006.
ULSTER-SCOTS LANGUAGE SOCIETY TNstees' Annual Report (contInd) Year ended 31 December 2022 Objectives and activities The objectives of the Society are to record, promote, generate recognition of and uphold the use of the Ulster-scots tongue in present day writing. education and speech: to encourage interest in traditional Ulster-scots literature and to promote the Ulster-scots tradition in music. dance, song and ballad. During the periixl under review, the Society continued its activitses of publishing Ulster-scots literature. Achievements and perfomiance The Society continued to meet its key objectives in rts operalional area in line with lis strateg5c plan during Ihe last twefve months. Flnanclal review The Trustees are satisfied vth the Societrfs performance over the year and its financial position at the year end. The Society had another quiet year but nevertheless strong financial management ensured that the Society once again earned a surplus over the year amounting to £538 (2021- £1,120). The Trustees are also pleased that the balance sheet remains solvent during difficult economic conditions. Plans for future periods The Society hopes to engage in activities to augment its core funding in order to provide additional monies to further ts objectives. The trustees. annual report was approved on ¥3 May 2024 and signed on behalf of the board of tnjstees by: Ms S Young Trustee Mrs A Smyth Trustee
ULSTER-SCOTS LANGUAGE SOCIETY Report to Ulster-scots Language Society on the Unaudited Flnancial Information of ULSTER-SCOTS LANGUAGE SOCIETY Year ended 31 December 2022 As described on the statement ol financial wsition. the Irustees of the chality are responsible for the preparation of the financial statements for the year ended 31 December 2022, which comprise the statement of financial activities, statement of financial p)sition and the related notes. You consider that the charity is exempt from an audrt under the Charlties Act (Northem Ireland) 2008. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilibes, from the accounting records and from information and explanations supplied to us. JOSEPH MURRAY LIMITED Chartered accountants 30b MARKET SQUARE DROMORE CO. DOWN BT25 1 AW 23 May 2024
ULSTER-SCOTS LANGUAGE SOCIETY ststement of Financial Aclivltles Year ended 31 December 2022 2021 Unrestricted funds Restricted funds Totsl funds Total funds Nots Income and endowmenls Donations and legacies Other trading activittes Tolal income 282 951 129 1,691 1.820 951 1,233 1233 Expenditur• Expenditure on raising funds: Costs of raising donations arKI legacies Expenditure on charitable activities Total expendiEure 427 427 6.7 269 695 695 700 Net income and net movement in funds 538 538 1,120 Reconclllallon of funds Total funds broughl forward Total funds caffied loard 7,649 8,187 {3.558) (3,558) 4,091 4,629 2,971 4,091 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing actlvtties. The notes on pagos 6 10 11 forni part of thos0 flnanclal stalem
ULSTER-SCOTS LANGUAGE SOCIETY Slatement of Financial Position 31 December 2022 2022 2021 No Curreni asseis Gash at bank and in hand 11773 11,995 Credftors: amounts falling due within one year Net curreni assets 10 8,144 7,904 4,091 4,091 4.629 4,629 4,629 Total assets less eurrent Ilabllltles Net assets 4,091 Funds of the charlty Restricted funds Unrestricted funds (3,558) 8.187 4,629 (3,558) 7,649 4,091 Toial charlty funds 11 These financial statements were appToved by the EM)ard of trustees and authorised for issue on 23 May 2024, and are signed on behalf of the board by: Mrs A Smyih Trustee Tho notos on pages 6 10 11 fomi part of these flnancial statemont&
ULSTER-SCOTS LANGUAGE SOCIETY Notes to the Financial Ststements Year ended 31 December 2022 ststement of compliance These financial statemetrts have been prepared in compliance wth FRS 102, The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable to chartties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK arxd Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Charilies Act {Northem Ireland) 2008. Accounting pollcles Basis ot preparation The financial statements have been prepared on the hFstorical cost basis, as modrfied by the revaluation of certain financial assets and liabilities and imiestment properties measured at fair value ihrough income or expendiiure. The financiaj statements are prepared in sterling, which is the functional currency of'the entity. Going concem There are no material uncertainlies about the charws ability to continue. Judgements and key sources of eiMatIon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and arg based on experience and other factors. indLKling expectations of future events that are believed to be reasonable under the circumsLqnces. Fund accounting Unrestricted funds are available for use at Ihe discretion ol the trustees to further any of the charitys purposes. Designated funds are unrestricted funds eamiarked by the trustees for parti¢xlar future project or commitment. Restricted funds are subjected to reslricttons on their expenditure declared by the donor or through the temis of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
ULSTER-SCOTS LANGUAGE SOCIETY Notes to the Financial Statements (conHn(*dJ Year ended 31 December 2022 Accountlng policies (cononwdj Incomlng resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity. it is probable that the economTr¢ benefits associated wrth the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: income from donations or grants is recognised when there is evtdence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entÈtlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities aThJ sermces are recognised in the accounts when received if the value can be reliably measurwj. No amounts are included for the contribution of general volunteers. income from contracls for the suppty of seNices ts recognised with the deltvery of the contracted service. This is classrfied as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purp)se and retumed rf unspent, in which case it may be regarded as restricted. Resourcos expended Expenditure is recognised on an accruals basis as a liability is incurred. Expendrture includes any VAT which cannot be fully recovered. and is classified under headings of the statement of financial activities to which it relates: expenditure on raising funds includes the costs of all fundraising activitses, events, non- charitable trading activities. and the sale of donated goods. expenditure on charltable aclivities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of its beneficiles, including those support costs and costs relating to the govemance of the charity apportioned to charitable activities. other expenditure includes all expeTrJitur8 thal is neither related to raising funds for the charity nor part of its expenditure on charitable actsvities. All costs are allocated to expenditure categories reflectEro the use of the resource. Direct costs attributable to a single actNty are allocated directty to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable. justitiable and consistent basis. Tangible assets Tangible assets are initially recorded at cosL arvj Subsequent stated at cost less any accumulated depreciation and imparment losses. Any tangible assets carried at revalued amounts are recorded at the lair value at the date of revaluation less any subsequent accumulat8d depreciation and subwuent accumulated impaimient losses.
ULSTER-SCOTS LANGUAGE SOCIETY Notes to the Financial Ststements Icontlnwd) Year ended 31 December 2022 Accountlng pollcles (condmKd) Tanglble assels (conllnued) An increase in the carrying amount of an asset as a resutt of a revaluation. is recognised in other recognised gains and losses, unless it reverses a charge for impairnient that has previously been recognised as expenditur8 Within the statement of financiaE activtbes. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in vthich case the loss is shown within olher recognised gans and105ses on the statement of financial actmties. Depreclatlon Depreciation is calculated so as to wriie off the cost or valuation of an asset, less its residual value, over the useful economic lrfe of that asset as follows: Equipmgnt 25Yo reducing balance Impairment of fixed assets A review for indicators of impaiment is carried out at each reporting date. with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingty. Prior impairments are also reviewed for possible reversal at each reporting date. For the PU of impainnent testing, when it is not possible to estimate the recoverable amount of an indwtdual asset, an estimate is made of the recoverable amount of the cash- generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely indep8ndent of the cash inflows from other assets or groups of assets. For imparment testing of goothwll. the gxmdwill acquired In a business combination is, from the acquisition date, allocated to each of the &h-generating units that are expect8d to benefit from the synergies of the combination, irrespective of whether other &ets or liabilit19s of the charity are asslgn8d to those units. Financial Instruments A financial asset or a financiaj liabilty is recognised onty when the charity becomes a paty to the Contractual provisions of the instrument. Basic financial instruments are initialty recognised at the amount recervable or payable including any related transaction costs. Current assets and current liabilities are subsequenlly measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cosL Where investments in shares are publicly traded or their f&r value can otherwse be measured reliably, the investrnent is subsequenty measured at fair value wth changes in fair value recognised in income and expenditure. AEI other such investments are subsequently measured at cost less irnparrm8nt.
ULSTER-SCOTS LANGUAGE SOCIETY Notes to the Financial Statements (Condnd9 Year ended 31 December 2022 Accounting policies (contrnu&fj Financial instruments (conNnued) Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond nomial business temis or fjnanced at a rate of interest that is not a market rate. in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt inslrument. Other financial instruments are subsequentty measured at fair value, with any changes recognised in the statement of financial activities, véith the exception of hedging instruments in a designated hedging relationship. Financi8J assets that are measured at cost or amortised cost are rewewed for objectÉve evidence of impairment at the end of each rep)rting date. If there is objective evldence of Impalrment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gatn was recognised. For all equity instruments regardl of significance. and other financial assets that are individually signrficant, these are assessed indiwdually for impainnent. Other financial assets are either assessed individually or grouFed on the basis of sirnilar credit risk characteristics. Any reversals of impairment are recognised immediatety, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised. Donatlons and legacios Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Donations Donations Subscriptions 180 102 45 84 102 282 282 129 129 Other trading aCtltIeS Unrestricted Total Funds Unrestricted Total Funds Funds 2022 Funds 2021 Other activibes ft)r g8nerating funds - Sale of Literature 951 951 1,691 1,691 Costs of ralsing donations and legactes Unrestricted Tolal Funds Unreslricted Total Funds FurKIs 2022 Funds 2021 Costs of raising donations and legacies Production of Literature 427 427 431
ULSTER-SCOTS LANGUAGE SOCIETY Notes to the Financial Statements fmnllnued) Year ended 31 December 2022 Expenditure on charitable activilies by fund type Unrestricted Total Funds Unrestricted Total Funds FutKIs 2022 Funds 2021 Support costs 268 269 269 Expenditure on charltable activities by actlvity type Total funds Total fund 2021 Support costs Governance costs 269 Trustee remuneration and expenses No remuneration or olher beneffts from employment the charty or a related entity were received by the trustees Tangible flxed assets Equipment Total At 1 January 2022 and 31 December 2022 Depreclatlon Al 1 January 2022 and 31 December 2022 Carrylng amount At 31 December 2022 3,249 3,249 3,249 3,249 At 31 December 2021 10. Creditors: amounts falllng due wilhln one year 2021 Accruals and deferred income Other Creditors - short term loan from D Rowlinson Other cr&Jitors 1.920 1,680 6.180 144 6,180 7,904 10-
ULSTER-SCOTS LANGUAGE SOCIETY Notes to the Flnanclal Statements (eonlinued) Year ended 31 December 2022 11. Analysis ot chaiitable funds Unrnstricled funds At 1 January 202 At 31 December 2022 Income Expenditure Unrestricted Fund - Language advancement 1,233 (695) 8,187 At 31 December 2021 1 January 202 Income Expenditure Unrestricted Fund - Language advancement 6,529 1,820 (700> 7,649 Restrlcted funds At 1 January 202 At 31 December 2022 Incorne Expenditure Restricted Fund - Core Funding (3,558) (3,558) At 1 January 202 At 31 December 2021 Income Expenditure Restricted FurKI - Core Funding (3,558) (3,558) 12. Anatysls of net assets between funds Unrestricted Funds Restricled Total Funds Funds 2022 Current assets Creditors less than 1 year Net assets 12.773 {4,586) 8,187 12,773 (8,144) 4.629 (3,558) (3.558) Unrestricted Funds Restricted Total Funds Funds 2021 Current assets Creditors less than 1 year Net assets 11.995 {4,346) 7,649 11,995 (7,904) 4,091 (3,558) (3.558) 11