CHARITY REGISTRATION NUMBER: NIC105099 ULSTER-SCOTS LANGUAGE SOCIETY Unaudited Financial Statements 31 December 2023 RRAY LI Chartered accountants 30b MARKET SQUARE DROMORE CO. DOWN BT25 1 AW
ULSTER-SCOTS LANGUAGE SOCIETY Financial Statements Year ended 31 December 2023 Page Trustees, annual report Report to ulster-scots language society on the 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 2023 The trustees present their report and the unaudtted financial statements o* the charty for the year ended 31 December 2023. Reference and admlnlstratlve details Registered charity name ULSTER-SCOTS LANGUAGE SOCIETY Charity reglstration number NIC105099 Prlnclpal office clo 79 Beechgrove Avenue Belfast BT6 OND The trusiees Mr J Erskine Ms S Young Dr P Saunders Mrs A Smyth Dr Philip Robinson Mr Billy Carlile Mr John Wright Accountants JOSEPH MURFIAY LIMITED Chartered accountants 30b MARKET SQUARE DROMORE CO. DOWN BT25 IAW Struclurei governance and management The organisation an unincorporated body operating as a society. The Ulster-scots Language Society is recognised by HM Revenue & Customs as having charitable objects for tsx purposes under reference XN89678. The Society is governed by a committee which is elected at each annual generai meeting. The officers of the society are the Chairman. Treasurer and Secretary, who are elected annually by the Committee at its first meeting following the annual generd meeting. The Society is governed by a constitution adopted on 8th November 2006.
ULSTER-SCOTS LANGUAGE SOCIETY Trustees. Annual Report (1Ued) Year ended 31 December 2023 Oblectlves and activities The objectives of the Society are lo record, promote. generate recognitron of and uphold the use of the Ulster-scols tongue in present day writing, education and speech: to encourage interest in traditional Ulster-scots literature and to promote the Ulster-scots tradstion in music, dance, song and ballad. During the period under review. the Society continued its activities of publishing Ulster-scots literature. Achlevements and prtonnance The Society Continued lo meet its key obltiveS in its operationaj area in line with tis strategic plan during the last twelve months. Financial review The Trustees are satisfied with the Societys perfomiance over the year and its financial position at the year end. The Society had a simitar year to the previous one in temis of activities however costs of £500 incurred during the year in digitising some literature of the Society contributed largety to the Society sustaining a small deficit over the year amounting to £690 {2022 - Surplus £538). The Trustees are nevertheless pleased that the balance sheet remains reasonabty strong despite the additional costs incurred during the 2023 finla1 year. Plans for iure perlods The Society hopes to engage in activibes to augment its core lunding in order to provid8 additionaj monies to further its objectNes. The trustees, annual report was approved on 23 May 2024 and signed on behalf of the board of trustees by: Ms S Young Trustee Mrs A Smyth Trustee
ULSTER-SCOTS LANGUAGE SOCIETY Report to Ulster-scots Language Society on the Unaudited Financial Information of ULSTER-SCOTS LANGUAGE SOCIETY Year ended 31 December 2023 As described on the statement of financial position, the tTUStees of the charity are responsible for the preparation of the financiaj slatements for the year ended 31 December 2023, which comprise the statement of financial activities, statement of financial position arKI the related notes. You consKler that the Gharty is exempt from an audit under the Charities Act (Northem Ireland) 2008. In accordance with your instructions we have compiled these financial statements in order to assist you to fulfil your statutory responsibilities. from the accounting records and from information and explanations supplied to us. JOSEPH MURRAY LIMITED Chartered accountants 30b MARKET SQUARE DROMORE CO. DOWN BT25 1AW 23 May 2024
ULSTER-SCOTS LANGUAGE SOCIETY Statement of Flnancial Activities Year ended 31 December 2023 2023 Restricted lunds Total funds Total funds 2022 Unrestricted fuTKIs Income and endownwnts Donations and legacies Other trading activities Total incom8 156 863 156 282 951 1,019 1,019 1,233 Expenditure Expenditure on raising funds: Costs of raising donations and legacies Expenditure on charitable activities Total expenditure 427 268 705 705 1,709 1,709 695 Net (expenditure)Ilncome and net movement in funds (690) (690) 538 Reconclllatlon of funds Total funds brought forward Totsl funds carried fOard 8,187 7,497 {3.558) (3,558} 4,629 3.939 4,091 4,629 The statement of financial aclivtties indudes all gaÈns and losses recognised in the year. All income and expenditure derive trom continuing activities. The notes on pages 6 10 11 forni part of these flnancial stalemen
ULSTER-SCOTS LANGUAGE SOCIETY ststement of Financial Position 31 December 2023 2022 Current assets Cash at bank and in hand 12,323 12,773 Creditors: amounts falling due within one year Net current assets 10 8,384 8,144 3.939 3,939 3,939 4,629 4,629 4,629 Tolal assets l&ss cuThent liabilities Net assets Funds of the charity Restricted funds Unrestricted funds (3,558> 7,497 3,939 {3,558) 8,187 Total charity funds 11 4,629 These financial statem8nts were approved by the board ol trustees and authorised for issu8 on 23 May 2024, and are signed on behalf of the board by: Mrs A Smylh Trustee The noles on pagos 6 to 11 torn) part ol th finan¢lal statements.
ULSTER-SCOTS LANGUAGE SOCIETY Notes to the Financial Ststements Year ended 31 December 2023 ststement of compllance These financial statemerrts have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and Ihe Republic of Ireland.. the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of IrelarKI {FRS 102) (Gharities SORP (FRS 102)) and the Charrties Act (Northern IreEand) 2008. Accounting policies Basls of preparation The financial statements have been prepared on the historicd cost basis, as modified by the revaluation of certain financia] assets arKI liabilthes and investment properties measured at far value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concern There are no material uncertanties about the charitys abilty to continue. Judgements and key sourees of estlmatlon uncerlainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reFrf)rted. These estimates and judgements are continually reviewed and are based on experience and other factors. including expectations of future events that are believed to be reasonable under the circumstances. Fund accounting Unrestricted funds are available for use at the discretion of the trustees lo further any of the charitys purposes. Designated funds are unrestricted funds earmarf<ed by the trustees for partlcular fulure project or commitment. Restricted funds are subjected to restrictions on their expenditure declar&J by the donor or through the terms of an appeal, and fall into one of two subdasses: restricted income funds or endowment funds.
ULSTER-SCOTS LANGUAGE SOCIETY Notes to the Financial Statements (continii Year ended 31 December 2023 Accounllng pollcles (conunued) Incomlng resources All incoming resources are included in the statement of financial activtties when gntitlement has passed to the chaiity. it is probable that the economic benefits associated with the transaction will flow to the charty and the amount can be reliably measured. The followtng specrfic policies are applied to particular categories of income: income from donations or grants is recognised when there is evidence of enlitlemenl to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entttlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliabty, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services.are recognised in the accounts when received rf the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for the supply ol seNices is recognised yth the delivery of the contracted seNice. This is classrfied as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose arKA relumed if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accrua]s basis as a liability is incurred. Expendtture includes any VAT which cannot be fu15y recoverwj, and is classilied under headings of the statement of financial activities to which tt relates: expenditur8 on raising funds includes the costs of all fundraising acbviti8s, events, non- charitable trading activities, and the sale of donated goods. expenditure on charitable acttvrties includes all cosls incurred by a charty in undartaking activtties that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure thai is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated lo expenditure categorles reflecting the use of the resource. Dlrect costs attributable to a single activity are allocated directy to that activity. Shared costs are apportioned between th8 activtbes they contribute to on a reasonable, justifiable and consistent basis. Tanglble assets Tangible assets are initially recorded at COSL and subsequently stated at Cost less any accumulated depreciation and impaimierrt losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
ULSTER-SCOTS LANGUAGE SOCIETY Notes to the Financial Statements (conlln( Year ended 31 December 2023 Accounllng pollcles {contthuedJ Tangible assels (¢onllnu8dJ An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impainnent that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a resutt of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gans and losses on the statement of financial activities. Depreciatlon Depreciation is calculated so as to write off the cost or valualion of an asset, less its residual value, over the useful economic lrfe ol that asset as follows: Equipment 25% reducing balance Impalrment of fixed assets A review for indicators of impaiment is carried out at each reporting date. wilh th8 recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impared accordingly. Prior imparnents are also reviewed for possible reversal at each reporting date. For the purFM)ses of impaimient testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimat8 is made of the r8coverable amount of th8 cash- generating unit to which the assel belongs. The cash4Jenerating unit is the smatlest identifiable group of assels that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill. the goodwll acquired in a business combination is, from the acquisition date, allocated to each of the cash-generaling units Ihat are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilittes of the charity are assigned to those unts. Financlal Instrumènts A financiai asset or a financial liabilty is recognised onty when the charity becomes a paty to the contractual provisions of the instrumenL Basic financial instwments are tnitialty recognised at the amount recewable or payable including any related transaction costs. Current assets and current liabilittes are subsequenlly measured at the cash or other Gonsideration expeGted to be paid or receNed and nol discounted. Debt instruments are subsequently measured at amortised cost. Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequenlly measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impainnent.
ULSTER-SCOTS LANGUAGE SOCIETY Notes to the Financial Statements (conrfnued) Year ended 31 December 2023 Accountlng policies (cononued) Financial instrumenls (¢ontim*é) Other financial instruments, including derNatives, are initially recognised at fair value, unless payment for an asset is deferred beyond nomial business temis or financed at a rate of interest that is not a market rate, in which case the asset is measured at the presenl value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequentty measured at f&r value, with any changes recognised in the statement of financial acliviiies. with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are relleWed for objective evidence of impairment at the end of each reporting date. If there is objecttve evldence of impairment, an impairment loss is recognised under the appropriate heading in Ihe statement of financial activities in which the inrtÉal gain was recognised. For all equty instruments regardless of significance, and other financial assets Ihat are individually significant, these are assessed indNidually for impairment. Other financial assets are either assessed indiwdually or grouped on the basis of similar credit risk charact8ristics. Any reversals of impairment are recc¥Jnised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that eXedS what the carrying amourrt would have been had the impairment not previously been recognised. Donations and legacies Unrestricted Total Funds Unrestricted Total Funds . Funds 2023 Funds 2022 Donations Donations Subscriptions 180 102 180 102 156 156 282 282 Other tradlng actlvlties Unrestricted Total Funds Unrestricted Total Funds Funds 2023 . Funds 2022 Other activities for generating funds - Sale of Literature 863 951 951 Cosls of raising donatlons and legacies Unrestricted Tolal Funds Unrestricled Total Funds FuThts 2023 Funds 2022 Costs of raising donalions and legacies - Production of Literature 1,004 427 427
ULSTER-SCOTS LANGUAGE SOCIETY Noles to the Financial Ststements (rnntinue Year ended 31 December 2023 Expenditure on charitable activities by fund type Unrestricted Totsl Funds Unrestricted Total Funds Funds 2023 Funds 2022 Support costs 705 705 268 Expenditure on eharltable activities by activity type Total funds 2023 Total fund 2022 SuFWrt costs Govemance costs 705 268 Trustee remuneration and expenses No remuneration or olher benefits from employment with the charity or a related entty were received by the trustees Tangible fixed assets Equipment Total Cost At 1 January 2023 and 31 December 2023 Depreciation At 1 January 2023 and 31 December 2023 Carrylng amount At 31 December 2023 3,249 3,249 3,249 At 31 December 2022 10. Creditors: amounts falling due wlthln one year 20fJ 2022 Accwals and deferred income Other creditors - short term loan from D Rowlinson Other creditors l160 1,920 6.180 8.384 6,180 8,144 10-
ULSTER-SCOTS LANGUAGE SOCIETY Notes to the Hnanclal Statements In11n Year ended 31 December 2023 11. Analysis of charitable funds Unresirlcled funds At 1 January 202 31 December 2023 Income Expenditure Unrestricted Fund - Language advancemenl 8,187 1,019 (1,709) 7N97 At 1 January 202 At 31 December 2022 Income Expenditure Unrestricted Fund - Language advancement 7,649 1,233 (695) 8,187 Restricted funds 1 January 202 31 Decèmber 2023 Income Expenditure Restricted Fund - Core Funding (3,558) (3.558) At 31 December 2022 1 January 202 Income Expenditure Restricted Fund - Core Funding (3,558) (3.558) 12. Analysls of net assets between funds Unrestricted Funds Reslricted Tolal Funds Funds 2023 Current assets Creditors less than l year Net assets 12.323 (4.826) 7.497 12,323 {8,384) 3,939 (3,558) (3,558) Unrestricted Funds Restrlcted Total Funds Funds 2022 Current assets Creditors less than 1 year Net assets 12,773 {4,586) 8.187 12,773 18,144) 4,829 (3,558) (3,558) 11