COMPANY REGISTRATION NUMBER". N1024103 CHARITY REGISTRATION NUMBER: NIC105286 The Somme Association Company Limited by Guarantee Financial Statements 31 March 2025 Chartered accountants & statutory auditor 631 Lisburn Road Belfast BT9 7GT
The Somme Association Company Llmlted by Guarantee Financial Statements Year ended 31 March 2025 Page Trustees, annual report (incorporating the director's report) Independent auditor's report to the members Statement of financial activities (including income and expenditure account) 14 Statement of financial position Statement of cash flows 15 16 Notes to the financial statements 17 The followlng pages do not form part of the financial statements Detailed statement of financial activities 33 Notes to the detailed statement of financial activities 35
The Somme Association Company Llmlted by Guarantee Trustees. Annual Report (Incorporating the Dlrector's Report) Year ended 31 March 2025 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2025. Referen and admlnlstratlve deta118 Reg18tered charfty name The Somme Association Charfty reglstrntlon nurnr NIC105286 Company rnglstratlon number N1024103 Prlnclpal offlce and rnglst•red 233 Bangor Road offle• Nev4lownards Co. Down BT23 7PH The Iru8la•8 Mr A McFarland Mr E Holmes Mr L Cree Mr L Logan Mr V Deshpar Mrs E Hoy (Resigned 5 February 20251 Audllor Aubrey Campbell & Company Chartered accountants & statutory auditor 631 Lisburn Road Bemast BT9 7GT
The Somme Association Company Limlted by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnuod) Year ended 31 March 2025 Structure, govemance and managemenl Govemlng Document The Somme Association is a charitable company limited by guarantee, incorporated on 26 January 1990. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under ils Articles of Association. In Ihe event of the company being wound up, members are required lo contril)ute an amount not exceeding £10 to the Charity's assets if it should be wound up while he or she is a member or within one year after he or she ceases to be a member for payment of the charitvs debts and liabilities contraed before he or she ceases to be a member and of the cosls, charges and expenses of winding up and tor the adjustment ol the rights of the contributors among themselves. Recrullmenl and Appolntmènt ol Trustees The Directors of Ihe Company are also charity Trustees for the purpose of charity law and urKler the companls Articles are members of the Somme Association. Under the requirement of the Memorandum and Articles of Association, the Trustees of the Somme Association Board are elecled lo serve for a period of three years after which they musl be re-elecled at the next Annual General Meeting. All members of the Board give their time volunlarily and receive no benefit from the charily. Any expenses reclaimed from Ihe charity are set out in the accounts. Organlsallonal Slruclure The Somm8 Association has a 8oard of Truslees of 5 members who, meet quarterly or more frequenlly. if required. The Board is responsible for the strategic direction and policy of the Charity. The Director of the Somme Association. attends meelings of the Board, but has no voting rights. Day to day responsibilty for the management of the charity is delegated to the Director, who is responsible for ensuring that the charity delivers the seNces in accordance with its objectives sel out in the Memorandum of Understanding, and Ihat key performance indicators are mel. The Director has responsibility for the day io day operational management of the staff at the Somme Museum and al Ihe Ulster Memorial Tower, and for ensuring staff members continue to develop their skills and working practices in line wth good praclice. Hlslory The Somme Assoclation was formed in 1990 bmih the aim of educatiNJ the PutlC and commemorating, on a cross-community basis. the role played by Irish men and women in Ihe First World War. It administers Ihe Ulster Memorial Tower in France, and in 2004 purchased Thiepval Wood through a granl from the Departmenl of Culture, Arts and Leisure. 11 has over the lasl lew years carried out archaeological excavations of Ihe trenches in Thiepval Wood, from where Ihe Ulster Division made its historic charge on Ihe 1st July 1916. The Wood was opened for guided lours in July 2006 and work continues on the original First World War trenches. The Association also owns Craigavon House in East Belfast, former home of Sir James Craig, Northern Ireland's firsl Prime Minister and central figure In the Home Rule Crisis. The Somme Heritage Centre opened in 1994 and became a fully accredited museum in 2002 urKJer Museums, Libraries and Archives (MLAUK). The Trustees of the Somme Association decided to change Ihe Museum's name to Somme Museum in 2014 and this was approved by Museums, Libraries and Archives in the same year. The Somme Museum (SMI operates as an educational facility, independent museum and as a tourist attraclion. The Museum examines Ireland's role in the First World War with special reference lo local cross- community involvement in the three volunteer Divisions raised in Ireland- Ihe 1 Oth and 161h
The Somme Association Company Llmlted by Guarantee Trustees, Annual Report (Incorporatlng the Dlrector's Report) (conllmmd) Year ended 31 March 2025 (Irish) Divisions, and the 36th (Ulster) Division. it provides public access to educaliond material that relerences the significant local historical. political, cultural and heritage context of the years 1910-22 and specifically in relation to the Battle of the Somme. The Museum conducts oulreach work wrth schools" provi(fing learning materials and links wilh the school curriculum. The Museum has also established relationships with a number of community and volunlary sector organisations which it aims to develop particularly within the VKsmen's sector. Since 2000, Ihe Museum has expanded inlo Ihe Second World War and other modem International conflicts. The key aims of the Museum include strengthening cross<ommunty understanding and knovledge of shared heritage, improving cross-border relationships. promoling reconcilialion and building on educalionl outreach lacilities and programmes - particularly towards youth and women. This supports the Execulive's statement that events will be organised under Ihe principles of.. educational locus. reflection. inclusivty; - tolerance., . respect; responsibilty; and, - inlerdeperKlence. The SM has an extensive collection of material from the First World War period and in the last number of years a growlng collection from World War Two. In 1998, a 'Management Committee, was fomied for the SM, which incorporated members of the Somme Association. Ards Borough Council, North Down Borough Council, and interested individuals with educational, business and communty relalions backgrounds. With the re-organisation of local governmenl. the struclure of Ihe Committee has changed and now includes three Councillors from Ards and North Down Borough Council.
The Somme Association Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) {contInU) Year ended 31 March 2025 Objectlves and aciivllles Vlslon To assist in bringing the people of the island of Ireland to a mutual understanding through the commemoration and interpretation of the experiences of the men and women who lived, served, fought and died in modem international conflicts. Ml88lon To improve community relations through commemoration arKI education on the important role played by Irish Soldiers in defence of freedom in the modern era in a balanced. accurale and entertaining manner - through the provision of museum displays and experiences at the Somme Museum, and through the visitor experience at the Ulster Memorial ToVr and Thiepval Wood in France. Values The Somme Association occupies a unKiue posrlion, in which it has the respect and support of the full range ol organisalions and political parties representing communities from across the islarKI of Ireland. As a result. it is able to make a significant contribution towards building a united and shared community in line with Northern Ireland Executive aims and priorities. The Association achieves this through promoling a faclual and balanced analysis of the evenls surrounding ihe First World War. in order to educale all sections of our community in our shared history - a history which cannot be claimed by any one group to the exclusion of olhers. The whole community of Northem Ireland will beneftl through the development of a common understanding of the commitment and sacrrfices made by peoples from a Nationalisi and Unionist background as they stood and fought together on the Weslern Front during the First Worfd War. Although the story of the Firsl World War is often told through the military and regimental museums in Ireland. Ihe Somme Museum prowdes a shared space where people from various backgrounds can come to learn more at)out family members arKI the bmder history of the war including the social and political conditions that prevailed at home. Through its professionai approach in researchirvJ the history of the First World War. the Somme Association is committed lo addressing Ihe need for a shared community set out by the Northem Ireland Executive and works closely with and supports the educalion sector in develwng material lo support the schools, curriculum requirements. Our Key Alms Our key aims are as follows: - To strengthen our cross-community StarKJing. and knowledge of our shared heritage: - To improve Cross-border relationships; - To build on our educationloutreach facilities and programmes partularlY towards youth. To develop our exhibition areas to prowde greater public access lo malerial held by the Museum; arKI, - To improve our collections and collections management procedures. Publlc Beneflt Statement The Somme Association is satisfied that it adheres to the public beneftt test sel out by the Charities Commission for Northem Ireland due to the objectives and activrties il provides.
The Somme Association Company Llmlted by Guarantee Trustees. Annual Report {Incorporatlng the Dlrector's Report) {contlnu•d) Year ended 31 March 2025 Strateglc rnport The following sections for achievements and pertormance and financial review form the strategic report of th6 charity. Achlov•ments and porfomiance u1stoL. The Ulster Memorial Tower at Thiepval, France, has had another successful year. Our key staff. supported by a surge capactty from the Somme Museum. have proved popular and visilor numbers have again increased. Leger Battlefield Tours are regular visitors and the experience has continued lo recelve 5 star ratings on social media sites. Q[alga' Cragavon House featured by name in the political agreement 'New Decade New Approach,. Ettorts have continued throughout the year to find a suitable buyer and use for the prop8rty and encouraging signs are on the horizon. The Direclor has continued to offer bespoke tours of Craigavon House to Interested established groups. . The Museum has been fortunate to have had its fulIng restored by ihe Department for Communities, following a visit by the Minister in July 2024, and the Trustees are graleful for support shown by local polrtical representatives. Although opening hours have again had to be curtailed, the booking sysiem introduced last year has proved popular and visilor numbers have increased. As has been the case for many years. school visits, from all sections of our communtty, continue to be our core business. The Museum operates with two full-time and one part-time staff members and Is fortunale lo have a number of experience and knowledgeable volunteers, who allow the guiding system to function and provide logistical support. Although adding addilional pressure to her busy job, the Director has continued to carry out successful evening oulreach presentations to Community and Historical Groups throughout Northern Ireland. Many of the groups follow up the presentation with a visit to the Museum. During the year, several events and exhibitions have been held at Ihe Museum. In partnership with the Ulster Scots Agency. the Museum held an exhibition 'Ulsterfs VC Heroes of the Greal Wal, which opened on 17th April 2024. In Oclober 2024. Ihe Museum opened an exhibition entitled ' Father Browne's War Through the Lens - a Jesuit Chaplain with the Irlsh Guards,. Father Francis Browne took pholographs throughout WWI. The Annual 'Christmas in the Trenches,. over three days prtor to Christmas, quickly sold out and has ag&n proved very popular. The Association was successful in its application to the National Lottery Heritage Fund for funding a managemenl consullancy study inlo fulure possitx'lities for the Museum. The contracl was awarded to Take the Current. a company experienced in museum studies. The consultancy began in May 2024 and covers governance. suslainability and an assessment of site. location and key facilities. It is expeaed io report in late 2025 The Chairman and Director have continued to meet with Ards & North Down Borough Council regarding the development of Whitespots Country Park and possible development of a new galeway centre for the site.
The Somme Association Company Limited by Guarantee Trustees, Annual Report (Incorporatlng the Dlrector's Reporl) (contlnu•d) Year ended 31 March 2025 Flnanclal revlew The Somme Association has continued to operate in challenging financial circumstances, although, with increased granl funding and careful financial managemenl, Ihe oulcomes over the year have been better than recent years. The Board of Trustees are graleful for the financial support from the Department for Communities and Ards and North Down Borough Council which allovts the Museum to function while awaiting the OLrtcome of the ongoing consultation into future development possibililies. The Department of Finance has continued to fund the Association, as cust(Klian of the Ulster Memorial Tower at Thiepval. The Association has been successful in applications to support the excellent outreach activities carried out by Ihe Director. Efforts have continued to engage Ihe French tax authorities on the Association's liability to VAT wilh no conclusive oulcome, as yet. The Association has conlinued in its efforts to transfer Craigavon House into suilable hands and there are encouraging signs that a solution may emerge - such a transfer would ease the Association's financial burdens. Plans for future perlod8 Somme Association has been in discussion with Ihe Department of Finance regarding potential refurbishment and enhancement of Ihe Ulster Memorial Tower Visitor Cenlre at Thiepval and it is likely Ihal the project will be taken forrfiard in the year 2026127. The Association has been working with our consultants, 'Take the Currenl,, and Ards and North Down Borough Council to develop proposals that will allow the Museum and Whitespots Country Park to flourish in partnership. The final consultant's report is is due in January 2026. The Associalion has been wothing with the Northern Ireland Office. The Somme Nursing Home and polrtical representatives to find a suilable future use of Craigavon House and the signs are encouraging. Tru8tee8' re8ponslbllltlu slalement The truslees, who are also direclors for the wrposes of company law, are responsible for preparing the truslees, report and the financial statemenls in accordance wilh applicable law and United Kingdom Accounting Standards Iunitgd Kingdom Generally Accepted Accounling Practice). Company law requires the charity trustees to prepare financial slatements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources. including the income and expenditure, for that period.
The Somme Association Company Llmited by Guarantee Trustees. Annual Report (Incorporatlng the Director's Report) (ntInued) Year ended 31 March 2025 In preparing these financial statements, Ihe trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the applicable Charities SORP. make judgments and accounting estimates 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 stalements. prepare the financial statements on the going concern basis unless it is inappropriate lo presume thal the charity will continue in business. The truslees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitvs transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the linancial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of Ihe charity and hence for taking reasonable steps for the prevention and detection of fraud and olher irregularities. Audltor Each ot the persons who is a truslee al the dale of approval of this report confirms that: so far as they are aware. there is no relevant audit information of which the charity's auditor is unaware. and they have taken all steps Ihat Ihey ought lo have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's audilor is aware of that information. The trustees, annual report and the stralegic report were approved on 18 December 2025 and signed on behall of the board of trustees by: Mr A McFarland Trustee Mr L Cree Trustee
The Somme Association Company Llmlted by Guarantee Independent Audltorfs Report to the Members of The Somme Assoclatlon Year ended 31 March 2025 Quallfled oplnlon We have audited the financial statements of The Somme Associalion {the 'charitl) for the year ended 31 March 2025 which comprise the statement of financial activities (including income and expenditure account). stalement of financial posilion, stalement of cash flows and the related notes, including a summary of significanl accounting policies. The financial reporting framework that has been applied in Iheir preparation is applicable law and Uniled Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland {United Kingdom Generally Accepted Accounling Practlce), and the Statement of Recommended Practice ISORP) applicable to charities. In OL5r opinion, except for the possible effects of the matter described in the basis for qualified opinion section of our report, the financial statements: give a true and fair vlew of the state of the charity's affairs as at 31 March 2025 and of its incomlng resources and applicalion of resources. including its Income and expenditure. for the year Ihen ended,. have been properly prepared in accordance wllh United Kingdom Generally Accepted Accounting Practice., have been prepared in accordance with the requirements of the Companies Act 2006. Bas18 lor quallflod oplnlon The Association has historically regarded trade at the Ulster Tower visitor's centre, situated al Thiepval {France), as exempt from 'Taxe sur la Valeur Ajoulée, or TVA (French VATI. Legal advice received on this matter suggesled that revenue generated on certain ilems is iypically subject lo French VAT, and - unless exemption from filing is available - VAT must be accounled for on sales, and returns filed from the rnonlh the threshold is breached. The advice did not confirm that an exemption was applicable, and it suggests that as th8 French tax authorities are unaware of vatable activity at the Ulster Tower, the Association is al risk of refusal lo the French VAT exemption regime which would have applied up 10 2018 land subsequently through to 2024). The Association, il stales, must apply io the French lax aulhorities for VAT regislralion, providing an explanation of the situation, draft VAT relurns. and applications lor Ihe necessary VAT exemptions where possible. In response, the Association filed the necessary VAT returns for 2017 to 2019, by email, on 24th March 2020, bul they are yel to receive a response from the French governmenl departments of their submission. This gives ris8 to a limitation of scope, as the Association remains unable lo demonstrably confirm their level of exempiion from VAT Ibelween 2016 and 2025 inclusiv81, and lo accurately quantify the amount ol VAT which will become due {note thal, to any liability calculated, a penalty of 100/0 will be applied plus late inlerestl. We conducted our audit in accordance with International Standards on Auditing IUKI IISAS {UKII and applicable law. Our responsibilities under those slandards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charty in accordance with the ethical requirements that are relevant to our audit of the financial stalements in the UK, including the FRC'S Elhical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have oblained is sufficient and appropriale lo provide a basis for our qualified opinion.
The Somme AssociatFon Company Llmlted by Guarantee Independent Audltor's Report to the Members of The Somme Assoclatlon (contlnu•dJ Year ended 31 March 2025 Materlal uncertalnty related io golng concern In forming our qualified opinion, we have considered Ihe adequacy of the disclosure made in note 3 of the financial stat8meniS concerning The Somme Association's abilily to continue as a going concern. The statement of linancial activity {SOFAI shows that the Association suffered a financial loss in the year ended 31 March 2025 of £52.34512024: £58,242). The lourism and not for profit sectors continua to face uncertainty. In recognition of this, the Board has persisted in its support of a full financial and operalional review of the company. However. given the limited resources available and the continued sporadic nature and timing of income, any fOard facing informalion presenled was nol substantively auditable. It is also noieworthy that long standing issues which may aff8Ct the viability of the Association in Ihe short lo medium lerm, such as the sale of Craigavon Hous8, increasing sums owed to HM Rev8nue and Customs in respect of PAYE and National Insurance Contributions arrears and Ihe VAT slatus of Ihe Ulsler Tower in France also linger. Accordingly, we agr8e with Ihe Board that an underlytng materlal uncertainty exisis whSch may cast significant doubt with regard to Ihe Association's ability to continue as a going concern, given the sporadic liming and quantum ol government grants to cover core funding., and, the indefinite nature of voluntary donations, sizeable or otherwise. Our opinion is not modified in respect of this matter. Other Informallon The other informaiion comprises the information included in the annual report, other than the flnanclal statements and our auditor's report Ihereon. The trustees are responsible for the olher information. Our opinion on the financial statements does not cover the other information and, except lo the extent otherlvise explicitly staled in our report, we do not express any form of assurance conclusion thereon. In connection with our audit of the financial slatemenls, our responslbiliiy Is to read the other informatlon and, In doing so, consider whether the olher information is malerially inconsistenl with the financial slatements or our knowledge obtained in the audit or otherwise appears lo be materially mlsstated. If we identify such material inconsistencies or apparent materlal misstatements, we are required lo determine whelher there is a material misslatemenl in the financial stalemenls or a material misstatement of the other information. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required lo report thal fact. We have nothing io report in this regard. Oplnlons on Oihor matler8 pre8crlbed by the Companles Aci 2006 In our opinion, based on the work undertaken in Ihe course of the audit.. the informalion given in the trustees, report for Ihe financial year for which the financial statements are prepared is consistent wilh Ihe financial slatements. and the trustees. report has been prepared in accordance wilh applicable legal requirements.
The Somme Association Company Llmited by Guarantee Independent Audltor's Report to the Members of The Somme Association (eonrfnued) Year ended 31 March 2025 Matters on whlch we ar• requlred to report by excepllon In light of the knoedge and understanding of the company and its environment obtained during the course of the audil. we have not identified material misstatements in the trustees, annual report (incorporating the directors, report). Except for the rnatter described In the basis for qualified opinion section of our report as described above, solely of the limitalion on our work: relating specifically to the tax status of the Ulster Memorial Tower visilor centre In France, we have not oblained all the information and explanations that we considered necessary for the purpose of our audil,. and relating specilically lo the lax status of the Ulsler Memorial Tower visitor cenlre in France, we were unable to delermine whether adequate accounting records had been kept. Wa have nothing to report in respect of the followng matters where th8 Companies Act 2006 requires us to report to you if, in our opinion: relurns adequate for our audlt have not been received Irom branches noi visited by us. or the financial statements are not In agreement with Ihe accounting records and the returns; or certain disclosures of directors remuneration specified by law are not made. and the dlrectors were not entitled io prepare the financial slatements in accordance wilh the small companies regime and take advantage of the small companies exemption in preparing the directors reports and take advanlage ol Ihe small companies exemption from the requirement to prepare a slralegic report. Re8pon8lbllllles of trustees As explained more fully in the truslees, responsibilities statemenl, the truslees (who are also the direclors for the purposes of company lawl are responsible for the preparalion of the financial slatements and for being satisfied that they give a true and fair view, and for such internal control as the truslees determine is necessary to enable the preparation of financial statemenls that are free from matedal misstatement, whether due lo fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charily's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using Ihe going concern basis of accounting unless the trustees either intend to liquidate the charily or to cease operations. or have no realistic alternative but to do so. 10
The Somme Association Company Limlted by Guarantee Independent Audltor's Report to the Members of The Somme Associatlon (¢onllnued) Year ended 31 March 2025 Audltor's responslbllllle3 for the audtt of Ihe flnanclal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from materiai misstatement, whether due to fraud or error. and to issue an auditor's report Ihat includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance wth ISAS (UK) V[1 aayS detect a material misstatement when it exists. Misslatements can arise from fraud or error and are considered material if, individually or in the aggregale, Ihey could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularilies. including fraud. are instances of non-cornplian Imth lavts and regulations. We design procedures in line yth our responsibilities. outlined above, to detect material misstatements in respect of irregularilies. including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below: Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non<ompliance with laws and regulatTrons. was as follows: the engagement partner ensured that the engagement team collectively had the aFpropriate competence, capabilities and skills to identity or recognise non-compliance with applicable lay and regulations- - we identified Ihe laws and regulations applicable to the charity through discussions with trustees and other management,. owe assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legai corresp)ndence,' and identified laws and regulalions were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audil. We assessed the susceplibility of Ihe charitys financial statements to material misstatement, inrjuding obtaining an understanding of how fraud mvjht occur. by: making enquiries of managemenl as to where Ihey considered there was susceptibilty to fraud. their knowledge ol actual, suspected and alleged fraud., and considering the internal controls in place to miligate tisks of fraud and non-complian with la and regulations. To address Ihe risk of fraud through management bias and override of controls, we: - performed anayticai procedures to identify any unusual or unexpected relationships. - tested journal entries to identify unusuai transactions: and assessed whether judgements and assumptions made in determining ihe accounting estimates set out in note 3 were indicative of potentiai bias. In response to the risk of irregulartties and non-cOmlance with laws and regulations, we designed procedures which included. Ixrt were not limiled to: - agreeing financial statement disclosures to underlwng supporting documentation; - reading the minutes of meetings ol those charged %*ith govefflance. and 11
The Somme Association Company Limited by Guarantee Independent Auditorfs Report to the Members of The Somme Associalion (¢onllnu•d) Year ended 31 March 2025 - enquiring of management as to actual and p)tential litigation and daims. There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions. Ihe less likely it is that we would become aware of non- compliance. Auditing standards also limit the audit procedures required to identify non-compliance wth laws and regulations to enquiry of the trustees arKI other managemenl and the inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberale concealment or collusion. As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audtt. We also: Identity and assess the risks of material misstalemenl of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks. and obtain audit evidence that is sulficienl and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resuhing from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery. intentional omissions, misrepresentations, or the override of internal control. Obtain an underslanding of inlernai control relevant lo the audit in order to design audit procedures that are appropriale in Ihe circumstances. but not for the purpose of expressing an opinion on the effectiveness of Ihe internal control. Evaluate Ihe approprialeness of accounting policies used and the reasonableness of accounting eslimales and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence oblained, whether a material uncertainty exists relaled to events or conditions Ihat may casl signrficant doubl on the charills ability to continue as a going concern. If we conclude that a material uncertainty exists, ¥ are required to draw attention in our audilor's report lo the related disclosures in Ihe financial statements or. rf such disclosures are inadequate. to modify our opinion. Our conclusions are based on the audil eVence obtained up to the date of our auditor's report. However. future events or conditions may cause the charity io cease to continue as a going concem. Evaluate the overail presentation. structure and content of the financial statements, including the disclosures. arKI whether the financial statements represent Ihe underfying transactions and events in a manner that achieves fair presentatson. 12
The Somme Association Company Llmited by Guarantee Independent Auditorfs Report to the Members of The Somme Assoclatlon (conllnued) Year ended 31 March 2025 We Communicate with those charged with govemance regarding. among other matters, the planned scope and timing of the audit and signrficant audit findings, including any significant deficiencies in inlernal control that we identity during our audrt. Use of our report This report is made solely to the charitys members, as a body, in accordance wtth Chapler 3 of Part 16 of Ihe Companies Act 2006. Our audit work has been undertaken so that we might state to the charitys members those matters bve are required lo state to them in an audito¢s report and lor no other purwse. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charitys members as a body. for our audit work. for this report, or for the opinions we have formed. Jo gee {Se or Statutory Auditor) For and of Aubrey Campbell & Company Chartered accountants & statutory auditor 631 knsburn Fload Belfast BT9 7GT 18 December 2025 13
The Somme Association Company Llmited by Guarantee Stalement of Flnancial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Restricted funds Toial funds Total funds 2024 Unrestricted funds Note Income and endowments Donations and legacies Charilable activities Other Irading activities Investment income Other income 65,454 70,668 27,907 136,122 27,907 90,910 93,181 22,485 98,697 750 1,500 216,613 90,910 1,500 100,075 1,500 256,439 Total Income 156,364 Expendlture Expenditure on raising funds- Cosls of other trading activities Expenditure on charitable activities Total exp8ndllur8 10 11,12 33,323 106,024 139,347 33,323 275,461 308,784 26,267 248,588 274,855 169,437 169,437 Net expendlture and net movemenl In funds 17,017 (69.362) (52,3451 (58,242) Reconciliation of funds Total funds broughl forward Tolal funds carrled forward (316,180) 1299.163) 808,435 739,073 492,255 439.910 550.497 492,255 The statement of financial aclivilies includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. Tho notes on pages 17 to 31 tomi part ol these Ilnanclal statements. 14
The Somme Association Company Limited by Guarantee Statement of Flnanclal Position 31 March 2025 2025 2024 Note Flxed a&8els Tangible lixed assets 18 790,265 826.731 Current assets Stocks Deblors Cash at bank and in hand 19 20 10,518 20,827 11,097 42,442 6,006 27.050 13,174 46.230 Credllors: amounts falllng due withln one year Net current Ilabllllles 392,797 350.355 439.910 380,706 334.476 Tolal assets l&ss current Ilabllllles 492.255 Net assels 439,910 492.255 Funds of the charlty Restricted funds Unrestricled funds 739.073 808,435 {299.163} (316.180) 439,910 492.255 Toial charfty fund8 24 These financial statements were approved by the board of trustees and authorised for issue on 18 December 2025, and are signed on behalf of the board by:, QL Mr A McFarlarKI Trustee Mr L Cree Trustee The notes on pages 17 to 31 form part ot Iheso Ilnanclal statements. 15
The Somme Association Company Llmlted by Guarantee Statement of Cash Flows Year ended 31 March 2025 2025 2024 Note Cash flows from operatlng aclivities Net expenditure {52,3451 {58,2421 Adjustments lor.. Depreciation of tangible fixed assets Other interest receivable and similar income Accrued expenses 38,463 38,066 {750) 1,534 4.846 Changes in." Slocks Trade and other debtors Trade and other creditors {4,512) 6.223 7,830 505 1.240 (13,9001 15,113 Cash generated from operations (16.939) Interest received 750 Net cash froml{used in) operating actiwties 505 (16,189) Cash flows from Investlng actlvilles Purchase of tangible assets Net cash used in investing activities (1.9971 (1,997) (6,179} (6.179) Net decrease in cash and cash equlvalents Cash and cash equivalents al beginning of year Cash and cash equivalents al end of year {1,492) (9.799) (11.291) (22,368) 12,569 21 19.799) The notes on pages 17 to 31 fomi part ol Ihese flnanclal gtstements. 16
The Somme Association Company Llmlted by Guarantee Notes to the Financial Statements Year ended 31 March 2025 General Informatlon The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered off ice is 233 Bangor Road, Newtownards, Co. Down, BT23 7PH. Stalement of Compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in Ihe UK and the Republic of Ireland., Ihe Slatement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accountlng pollcles Bas18 of preparallon The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the funciional currency of the entity. 17
The Somme Association Company Limited by Guarantee Notes to the Financial Statements (contlnuad) Year ended 31 March 2025 Accounllng pollcles (contlnuad) Golng concern In preparing the financial statements. the trustees have considered the continued support of funding organisations. financiers and credilors. During the year ended 31 March 2025, the Association relurned a deficit of £52,345 {2024: £58,242 deficil)- The profits generated in France continue to be of great importance, hence the Ulster Tower {Thiepvall. manned by volunteers, was open to visitors for the full season in 2025. The museum in Newtownards was opened on a part time basis and for prebooked group bookings. Grant income was received throughout the period, although the liming of payments remains an issue. As far regards other opportunities lo generate cash, the property owned locally by the Association is slill for sale. Conversely, sums owed lo HM Revenue and Customs with regard to PAYE have increased, and confirmation of the Association's VAT status in France remains outstanding. The Trustees are confident thal the improvement exhibiled Ihis year, albeit small. will gather pace into the 2025126 year and beyond. They acknowledge Iheir responsibility to manage the situation, and to make sound and sensible decisions regarding the viability of the operation at home and abroad. Accordingly. a grant funded financial and operational review is ongoing, but has yet to conclude. The Association continues to rely on the support of the bank and olher third parties to whom it remains indebted. The current economic trading conditions and resultanl lack of certainty regarding cash inflows suggest thal a material uncertainty exists which casts significant doubl upon the Association's ability lo conlinue as a going concern. However, as al the date of approval of the financial slatements, we are not aware of any conditions Ihat exist which may result in the wilhdrawal of support in the next 12 months by any known creditor. The Trustees therefore have a reasonable expectation Ihat Ihe Somme Association has adequate resources to continue in operational existence for the foreseeable future. For these reasons, they consider thal the preparation of the financial stalements on a going concern basis is appropriate, and the financial staiements do not conlain any adjustments thal would result if bank or credit facililies were withdrawn or future funding or finance became unavailable. 18
The Somme Association Company Limlted by Guarantee Notes to the Flnancial Statements (contlnuadj Year ended 31 March 2025 Accountlng poll¢les (Mntlnuod) Judgements and key sources of estlmatlon uncertalnty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These eslimates 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. Consequently. actual results may difier from these estimates. The key judgements and estimates that management has made in the process of applying the entItS accounting policies and that have the most significant effect on the amounts recognised in the financial statements are as follows: Depreciation The companys statement of financial position reflects a tangible fixed asset class which is subjecl to depreciation. Depreciation rales are based upon the expected economic lives of Ihe related tangible fixed assets. Any variation in the useful economic lives of the asset class will hav8 an impact on the balance sheet and financial position of the company. The useful economic lives of langible tixed assets are uncertain and. therefore, the actual economic life of an asset may be shorter or longer than expected. There have been no significant revisions to the estimaled lives during the current financial year. Forelgn currencles Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the Iransaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being iaken to the statement of financial activities. Fund accountlng Unrestricted funds are available for use at the discretion of the trustees to further any of the charitls purposes. Designated funds are unrestricted tunds earmarked by the trustees for particular future project or commitment. Restricled funds are subjected lo restrictions on their expenditure declared by the donor or through the lerms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. 19
The Somme Association Company Limited by Guarantee Notes to the Financial Ststements (contlnu8d) Year ended 31 March 2025 Accountlng pollcles (¢ontlnu8d) Incomlng resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. it is probable thal the economic benefils associated with the Iransaction 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 evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipl is probable and enlitlement is established. income from donated goods is measured at the fair value of Ihe 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 and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. income from contracts for Ihe supply of services is recognised wilh Ihe delivery of the contracted service. This is classilied as unrestricled funds unless there is a contractual requirement for it lo be spenl on a particular purpose and returned if unspent, in which case it may be regarded as restricted. Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities lo which il relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non- charilable trading activilies, and the sale of donated goods. expendilure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefil of its beneficiaries, including those support cosls and cosls relating to the governance of the charity apportioned lo charttable activities. other exp8nditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct cosls attributable to a single activity are allocated directly to that actiwty. Shared costs are apportioned between the activities they contribute lo on a reasonable. justifiable and consistent basis. 20
The Somme Association Company Llmlted by Guarantee Notes to the Financlal Ststements (conllnuod) Year ended 31 March 2025 Accountlng pollcles (contln(K Inlanglble a&8ets Intangible assets are initially recorded at cost, and are subsequently stated al cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts. are recorded at the fair value at the date of revaluation. as determined by reference to an active market, less any subsequent accumulated amortisation arKI subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when Ihey arise from contractual or other legal rights. are separable. the expeaed future economic benefits are probable and Ihe cost or value can be measured reliably. Amortlsatlon Amortisation is calculated so as lo write off the cost of an asset, less its estimated residual value, over the useful lrfe of that assel as follows: Copyright 10% slraght line If there is an indication that Ihere has been a significant change in amortisation rate, useful lrfe or residuai value of an intangible asset. the amorbsation is revised prospectively to reflect the new estimates. Tanglble assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and imparment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the dale of revaluation less any subsequent accumulaled depreciation and subsequent accumulated impaiment losses. An increase in the carrying amount of an asset as a result of a revduation, is recognised in other recognised gans arKI losses, unless it reverses a charge for imparmenl that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a resuft of revaluation, is recognised in other recognised gains and losses, except to vthich it offsets any prewous revaiuation g&n. in which case the loss is shown wthin other recognised gains and losses on the statement of financid activities. Heritage assets measured under the cost model are recognised initially recorded at acquisition cosl, and subsequently stated at cost less any accumulated depreciation and impairmenl losses. Heritage assets measured under the revaluation model are recorded at fair value less any accumulated impairment losses. Where information on the cost or value of an asset is not available and cannot be oblained at a cost which is commensurate wtth the beneftts to users of the finanaal statements. the asset shall not be recognised in the statement of financiai position. 21
The Somme Association Company Llmited by Guarantee Notes to the Financial Statements fcontlnued) Year ended 31 March 2025 Accountlng pollcles (Mntlnued) Depreciatlon Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic lrfe of that asset as follows: Land arKI buildings Baxter Hul Fixtures and fittings Molor vehicles Thiepval Wood /0 Straight line 3 % slraight line 20 % slraight line 20 /0 slraight line /0 slraight line Impaiment of flxed ap•sels A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where Ihe carrwng value exceeds the recoverable amount, the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal at each reporting dale. For the purposes of irnpairment testing, when it is not possible to estimate the recoverable amount of an indiwdual asset, an estimate is made of the recOVerae amount of the cash- generating unit to which the assel belongs. The Cashenerating unit is the smallest identifiable group of assets that includes Ihe asset and generates cash infloV that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodbwll acquired in a business combinalion is, from the acquisition date, allocaled to each of the Cashenerating units that are expected to benefil from the synergies of the combination. irrespe1Ve of whether olher assets or liabilities of the charity are assigned lo those units. Stocks Stocks are measured at the lower of cost and eslimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition. Financlal Instrumenls A financial asset or a financial liability is reccgnised only when the charity becomes a party to the conlractual provisions of the instrumenl. Basic financial instruments are initidly recognised al the amount receivable or payable including any related transaclion costs. Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost.
The Somme Association Company Llmited by Guarantee Notes to the Flnanclal Ststernents (conllnuod) Year ended 31 March 2025 Accounllng pollcles {conllnu8d) Flnanclal Instruments (coniinuod) Where investments in shares are publicly traded or their fair value can othetwise be measured reliably. the investment is subsequently measured al fair value th changes in fair value recognised in income and expenditure. Al olher such investments are subsequently measured at cost less impairment. Other tinancial instruments. including derivatives. are initially recognised at fair value. unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at Ihe Present vaiue of the future payments discounted at a markel rate of interest for a similar debl instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relalionship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at Ihe end of each reKK)rting dale. If there is objective evidence of impairmenl. an impairment loss is recognised under the appropriate heading in the slatement of financial activities in which Ihe inttial gain was recognised. For all equity inslruments regardless of signrficance, and other financial assets that are individually significant, these are assessed individuaily for imparment. Other financial assets are either assessed individually or grouped on the basis of similar credrt risk characterislics. Any reversals of impairment are recognised immediately. lo the extent Ihat 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 premously been recc#3nised. Deflned conlrlbutlon plans Contributions to defined contribLrtion plans are recognised as an expense in the period in which the related service is prowded. Prepad contritxrtions are recognised as an asset lo the extent that the prepayment will lead to a reduction in fulure payThenls or a cash refund. When conlributions are nol expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounled present value basis. The unwinding of the discount is recognised as an expense in the period in which rt arises. Llmlled by guarantee The charity is a company limiled by guarantee, nol having a share capital and is registered in Northern Ireland. The liability of members is limtted to £10.
The Somme Association Company Llmited by Guarantee Notes to the Flnanclal Statements (¢ontlnu6d) Year ended 31 March 2025 Donallons and legacle8 Unreslricted Funds Fleslricted Toial Funds Funds 2025 Donatlons Membership subscriptions Donations 12,163 43,291 12.163 43,291 Grants Dpt for Communities grants TBUC grants DFP grants Ards and NDBC grants 29,000 (5,332) 47,000 29,000 15,3321 47,000 10,000 136,122 10,000 65,454 70,668 Unrestricted Funds Restricted Total Funds Funds 2024 Donallons Membership subscriptions Donations 13,052 23,129 13,052 23,129 Grants Dpt for Communilies grants TBUC grants DFP grants Ards and NDBC grants 47,000 47.000 10,000 10,000 46,181 47,000 93,181 Charltable aciivltles Restricted Total Funds Funds 2025 Reslricled Total Funds Funds 2024 Sale of goodslservices as part of direcl charttable activities 27,907 27,907 22.485 22.485 24
The Somme Association Company Llmlted by Guarantee Notes to the Financlal Statements (conllnu•d) Year ended 31 March 2025 Other tradlng actlvltles Unrestricted Totsi Funds Unreslricted Totaj Funds Funds 2025 Funds 2024 Shop sales Cafe sales Hunt income Thiepval Wood sales Evenl Income 6,580 69.482 3,195 11,573 80 6,580 69,482 3.195 11.573 80 12,975 58,170 3,289 24,183 80 12,975 58,170 3,289 24,183 80 90,910 ,910 98.697 98,697 Investment In¢ome Unrestricted Toial Funds Unrestricled Total Funds Funds 2025 Funds 2024 Bank interest receivable 750 750 Other Income Restricted Tolal Funds Funds 2025 Restricted Total Funds Funds 2024 GOLI income 1.500 1,500 1,500 10. Costs of other tradlng actlvilles Unrestricled Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Costs of other trading activities - Shop and cafe costs 33.323 33,323 26.267 26,267
The Somme Association Company Llmlted by Guarantee Notes to the Financial Statements (con1lnuj Year ended 31 March 2025 11. Expendilure on charltable activities by fund type Unrestricted Funds Restricled Total Funds Funds 2025 Headquarters Ulster Tower Somme Museum Support costs 9,453 36,945 45,894 13,732 9.453 80,751 130,491 54,766 43,808 84,596 41,033 169,437 106.024 275.461 Unrestricted Funds Restricted Total Funds FurKIs 2024 Headquarters Ulster Tower Somme Museum Support costs 11,784 33,366 79,493 14,895 139.538 11,786 76,628 109,478 50,696 43.262 29,987 35,801 109.050 248,588 12. Expendlture on charltable activities by activity type Activtties undertaken direclly Support costs Toial funds 2025 Total fund 2024 Headquarters Ulster Tower Somme Museum Governance costs 9,453 80,751 130.491 9,453 80,751 130,491 54,766 275,461 11,786 76,628 109,478 50,696 54.766 54,766 220,695 248.588 13. Net expendfture Nel expenditure is stated after Chargin(cred[ling). 2025 2024 Depreciation of tangible fixed assets Foreign exchange drfterences 38,463 2,219 38,066 2.731 26
The Somme Association Company Limlted by Guarantee Notes to the Flnanclal Statements (contlnued) Year ended 31 March 2025 14. Audiiors remunerallon 2025 2024 Fees payable for the audit of Ihe financial statements 8,302 8,122 Fees payable to the charitls auditor and its associates for other services., Other non-audit setvices 8,001 2,708 15. Slaff costs The tolal Siaff costs and employee benefils for the reporting period are analysed as follows: 2025 2024 Wages and salaries Employer contributions lo pension plans 110,755 2,364 113,119 110,203 2,469 112,672 The average head count of employees during the year was 4 {2024: 4). The average number of full-time equivalent employees during the year is analysed as follows: 2025 No. 2024 No. Somme Museum Ulster Tower No employee received employee beneftts of more than £60.000 during the year (2024.. Nill. 16. Trustee remuneratlon and expenses No remuneration or other benefits from employment with the charity or a related entty were received by the truslees during the year. 17. Intanglble assets Copyrtghl Cosl At 1 Aprll 2024 and 31 March 2025 Amortlsailon At 1 Aprfl 2024 and 31 March 2025 Carrying amount Al 31 March 2025 10.394 10,394 At 31 March 2024
The Somme Association Company Limited by Guarantee Notes to the Financlal Statements (contlnuod) Year ended 31 March 2025 18. Tanglble flxed assets Land and buildings Baxter Hut Fixtures and littings Motor vehicles Thiepval Wood Total Cost At 1 Apr 2024 Additions 1,292.120 49,268 475,232 1,997 477,229 18,798 415.840 2.251,258 1,997 At 31 Mar 2025 1,292.120 49,268 18,798 415,840 2,253,255 Depreciatlon At 1 Apr 2024 Charge for Ihe year 760,411 16,421 469,075 18,798 159,822 1.424.527 25,842 1 ,641 18,062 2,663 8,317 168,139 1.462,990 38,463 Al 31 Mar 2025 786,253 471,738 18,798 Carrylng amount Al 31 Mar 2025 505,867 531,709 31,206 32,847 5,491 247,701 790,265 At 31 Mar 2024 6,157 256,018 826,731 The Somme Museum is located near the training ground of the 361h (Ulsler) Division, near Newtownards. the museum examines Ireland's role in the Great War, hosts schools, conferences, educational seminars, and exhibilions on more recent conflicts. The museum has increasingly focused upon the community relations potential of our shared history as a vehicle to developing mutual undersianding and reconcilialion. The museum was opened in 1994. The Ulster Tower visitor's centre is located at the sile of Ihe Ulsler Tower, Thiepval, France. The centre comprises an exhibition area, AV room, cafelshop with adjoining seating area and cuslomer toilets and is a focus for thousands of visitors each year who come to visil Ihe Ulster Tower and Thiepval Wood. Craigavon House and Thiepval Wood are regarded as being heritage assets. Further details can be found in note 3 of the financial statements. During the year ended March 2013 the charity was gifted two Baxter Huts by the Ministry of Defence. The huls were used variously throughout the 20th century as soldier's billels and for housing internees. The huls are a unique part of local history and were without market value. Due to the poor slate of repair of Ihe huts and the damage involved in the taking down of the huts, one hut was constructed from the Iwo. The trustees are, therefore, of the opinion thal the costs of obtaining a valuation for the original huts would be disproportionate in terms ol the benefil derived. The costs incurred in Ihe construction ol the hut have been capitalised and are being depreciated. The trustees thank the Heritage Lottery Fund for their financial support of this project. In 2004 the Somme Association received a grant from the Department of Arts, Culture and Leisure towards the purchase of Thiepval Wood. 28
The Somme Association Company Limited by Guarantee Notes to the Flnancial Statements (contlnued) Year ended 31 March 2025 19. siock8 2025 2024 Raw materials and consumables 10,518 6,006 20. Debtors 2025 2024 Trade debtors Prepayments and accrued income Olher debtors 3,702 16.151 974 859 6,478 19,713 27,050 20,827 21. Cash and cash equlvalenls Cash and cash equivaienls comprise the following.. 2025 2024 Cash at bank and in hand Bank overdrafts 11.097 122,388) {11,2911 13,174 (22,973) (9,7991 22. Credltors". amounts falllng due withln one year 2025 2024 Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and olher taxes Other creditors 22,388 11,438 29,639 118,914 210,418 392,797 22,973 8,799 24,793 98.480 225,661 380,706 Bank loans as detailed above includes bank loans and overdrafts. The bank overdrafts of £22,38812024'. £22,973) disclosed under creditors falling due within one year are secured by Ihe company. First Trust Bank holds a legal mortgagelcharge over Craigavon House as security against borrowings.
The Somme Association Company Limited by Guarantee Notes to the Financial Statements (ntInued) Year ended 31 March 2025 23. Penslons and other posi retlrement beneflts Deflned conlrlbution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,36412024.' £2,469). 24. Analysls of charitable funds Unrestrlcted funds At 31 March 202 At l April 2024 Income Expenditure General funds 1316,1801 156,364 1139,3471 (299,1631 Al 31 March 202 At 1 April 2023 Income Expenditure General funds {296,0031 145,628 {165,805) (316,1801 Restrlcted funds At 31 Mar¢h 202 At 1 April 2024 Income Expenditure Somme Association Restricled Fund 808,435 100,075 (169,437) 739,073 Al 31 March 202 At 1 April 2023 Income Expenditure Somme Association Restricted Fund 846,500 70,985 1109,0501 808,435 30
The Somme Association Company Llmited by Guarantee Notes to the Flnancial Statements (contlnuod) Year ended 31 March 2025 25. Analysls of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2025 Tangible fixed assets Current assels Credttors less than 1 year Net assets 5,494 784,771 790,265 (61.860) 104,302 42.442 (242.797) (150.000) (392,797) 1299,163) 739,073 439,910 Unrestricled Funds Restricted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Nel a8sels 6.157 820,574 826.731 (91.631) 137,861 46.230 (230,706) (150,000) (380.7061 {316,180) 808.435 492,255 26. Analysls of changes In net debl At At 1 Apr 2024 Cash flows 31 Mar 2025 Cash at bank and in hand Bank overdrafts 13,174 (22.9731 (9.799) (2,0771 585 11.097 (22,3881 111,291) (1,492) 27. Conllngencles A contingent liability exisls in respect of professional services prowded to the charity by Alastair Coey archilects. To date, professional fees have nol been delivered to the Association for payment, although Ihe truslees believe thal the value of the engagement can be reasonably estimated to be in the region of £85.000 (the exact quantum has not been agreed). The trustees do not expect payment of any amounl to be considered until agreement has been reached on the validity of the work performed and the associaled costs. in addition to receipt of funds from the sale of Craigavon House. 2& Related partles The Association has a close relationship bvith Ards and North Down Borough Council, which nominates 3 members of the Somme Museum Managemenl Committee and provides funding to enable the Museum to carry out its charitable objecls. The Somme Museum received £10,000 12024: £10,000) in grant support and £2,52512024: £1.6711 membership subscriptions, Musuem ticket sales and event income from Ards and North Down Borough Council in the year. At Ihe balance sheet date £1.781 (2024: £nil) remained due to the Somme Museum. 31
The Somme Association Company Llmited by Guarantee Management Information Year ended 31 March 2025 The followlng pages do noi form part of Ihe flnanclal statements. 32
The Somme Association Company Limited by Guarantee Detailed Ststement of Financlal Activities Year ended 31 March 2025 2025 2024 Income and endowments Donatlons and legacles Membership subscripiions Donations Dpt for Communities grants TBUC granls DFP grants Ards and NDBC grants 12,163 43.291 29,000 (5,332) 47,000 10.000 13,052 23,129 47.000 10,000 93,181 136.122 Charltable acllvllles Sale of goodslservices as part of direct charitable aclivities 27.907 22,485 Other tradlng actlvlties Shop sales Cafe sales Hunt income Thiepval Wood sales Event Income 6.580 69,482 3,195 11,573 80 12,975 58,170 3,289 24,183 80 90,910 98,697 Investment Income Bank interest receivable 750 Other Income GOLI income 1,500 Toial Income 256,439 216.613
The Somme Association Company Llmlted by Guarantee Detailed Statement of Financial Activities (ContInu) Year ended 31 March 2025 2025 2024 Expendllure Costs of other tradlng activilies Opening stock Purchases Closing stock 6.006 37.835 10.518 7,246 25,027 6.006 33,323 26,267 Expenditure on charltsble activili Wages and salaries Pension costs ghl and heat Repairs and maintenance Insurance Other molorltravel costs Legal and professional fees Telephone Other office costs Depreciation Foreign exchange gairvloss Sundry expenses Headquarters - Bank charges Headquarters - Exhibition and event costs 110,755 2.364 10.394 8,704 20,551 25,216 39,299 4,476 2,583 38,463 2,219 2,515 4,339 3,583 110,203 2,469 13,444 11,139 21,656 21,339 12,630 5.078 4,011 38,066 2,731 945 3,536 1,341 275,461 248,588 Total expendlture 308,784 274,855 Net expendfture (52,345) (58,2421
The Somme Association Company Llmlted by Guarantee Notes to the Detslled Statement of Flnanclal Actlvltles Year ended 31 March 2025 2025 2024 Costs of olher Iradlng actlvftles Costs of olher Iradlng actlvltles - Shop and cafe costs Shop and cafe costs - opening stock Shop and cafe cosls - purchases Shop and cafe cosls - closing stock 6,006 37.835 110.518) 33,323 7,246 25,027 (6,0061 26,267 Cosis of Other Iradlng acifvttks 33,323 26,267 35
The Somme Association Company Llmlted by Guarantee Notes to the Detailed Statement of Flnanclal Activities fcondnuod) Year ended 31 March 2025 2025 2024 Expendlture on charltable actlvltles Headquarters Activities undertaken dlre¢tly Headquarters - pension costs Headquarters - repairs & maintenance Headquarters - other motorltravel costs Headquarters - lelephone Headquarters - other office costs Headquarters - sundry expenses Headquarters - Bank charges 1,800 1.072 3.758 1,086 656 728 353 1,800 527 5,785 1,161 1.594 586 333 9,453 11,786 Ulster Tower Activltles undertaken dlrectly Ulster Tower - wages/salaries Ulsler Tower light & heat Ulster Tower - repairs & maintenance Ulster Tower insurance Ulster Tower other motorhravel costs Ulster Tower - telephone Ulster Tower - other office costs Ulster Tower - foreign exchange gainlloss Ulster Tower - sundry expenses Ulster Tower bank charges Ulster Tower - Exhibttion and event costs 42.306 249 3,285 3,867 21.260 1,730 1.424 2.219 938 832 2,641 41.762 1.873 6,504 4,312 15.542 1,712 1.054 2.731 546 592 80,751 76,628 Somme Museum Activities undertaken dlreetly Somme Museum - wageslsalaries Somme Museum - pension costs Somme Museum - light & heat Somme Museum - repairs & maintenance Somme Museum - insurance Somme Museum - other motorltravel costs Somme Museum - legal and professional fees Somme Museum - telephone Somme Museum - other office costs Somme Museum - sundry expenses Somme Museum - bank charges Somme Museum - Exhibition and event costs 68.449 564 10,145 4,347 16,684 198 22.996 1,660 503 68,441 669 11,571 4,108 17,344 12 2,205 1,363 359 2,657 749 3,154 942 130.491 109,478 Governance costs
The Somme Association Company Limlted by Guarantee Notes to the Detailed Statement of Financial Activities (contlnu•d) Year ended 31 March 2025 2025 2024 Governance costs - accountancy fees Governance costs - audit fees Governance COSIS - legal and other professional fees Governance costs - depreciation 8,001 8,302 2,708 8,122 1,800 38,066 50,696 38,463 54.766 Expendlture on charltable actlvltles 275,461 248,588 37