Company Registration No. N1043293 (Northern Ireland) ids. chartered accountants CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED (Being a Company Limited by Guarantee and not having a Share Capital) ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1BG
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants CONTENTS Page Legal and administrative information Trustees, report Independent auditorfs report 8-10 statement of financial activities 11 Balance sheet 12 Notes to the financial statements 13-20
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITEiids chartered accountants LEGAL AND ADMINISTRATIVE INFORMATION Trustees, George McAuley Graham Seymour Roy Craig Patrick McKeever Oliver McMul,an Dr P Jose Mr A McAlister Mrs J Taylor Mr R H M Wilson MrWT Kennedy Mr R J Stewart (Appointed 27 June 2023) (Appointed 20 September 2022) (Appointed 20 September 2022) (Appointed 20 September 2022) (Appointed 30 June 2023) (Appointed 30 June 2023} Secretary Mr G WThompson Charity number 106064 Company number N1043293 Registered office The Old Bank 27 Main Street ARMOY Co Antrim BT53 8SL Auditor IDS CharteredAccountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The members, who are also directors of the Charity for the purposes of the Companies Act present their report and accounts for the year ended 31 March 2023. The accounts have been prepared in accordance with the accounting policies set out in note 1 to accounts and comply with the Companies Act 2006 and "Accounting and Reporting by Charities., Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20151.. Objectives and activities The charity's objects are specifically restricted to promotion for the benefit of the public of the advancement of education, the promotion of sustainable development and biological diversity, the advancement of rural regeneration and the consetvation, maintenance, improvement and protection of the physical, natural and built environment of the Causeway Coast and Glens. The policies adopted in furtherance of these objects are as follows and there has been no change in these during the year. to advance the education of the public or any local or statutory authority in the principles and practice of conservation, and the conservation and protection of wildlife and marine life in an effort to encourage conservation., to advance, promote, preserve and further the conservation maintenance and proleLtion of features of the landscape in the area of benefit with geographical, historic, physiographical or amenity value and to enhance their contribution to existing environmental amenities in the area of benefit for the public benefit., to advance the education of the public in subjects relating to sustainable development and the protection, management, enhancement and rehabilitation of the environment and to encourage and promote study and research in such subjects provided that the useful results of such study are disseminated to the general public., to advance any other exclusively charitable purpose as the directors, may from time to time, decide in accordance with the law of charity. The Trustees, have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. The direct benefits that flow from CCGHT'S purposes are.. Habitat protection and enhancement through measures including establishing habitat management plans, controlling invasive species and addressing the risk of wild fires. Protection of native species such as the red squirrel and native woodlands. Improved public access to the area and mitigation of the impact of increased visitor numbers through engagement with landowners and the building, maintenance and promotion of paths. Restoration of the built heritage through the repair of the historic stonewalls and other historic structures and monuments in the area. Securing of the living heritage of the area for future generations through the collection and collation of heritage material. Sharing of the heritage of the area for the education and enjoyment of the public through events, publications, exhibitions, training courses and volunteering opportunities. The above will lead to protection of cultural values, heritage and the environment for future generations., enhanced appreciation and enjoyment of the area., increased social and economic well-being of local communities., conservation and enhancement of the special qualities of the Causeway Coast and Glens for currenl and future generations,. development of outdoor skills and active lifestyles.
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Our activities are designed lo enhance and protect the environment and contribute to well-being Any potential harms are 0e1ghed by the benefits and alleviated through respecting the rights of all stakeholders, managing access, reducing wildfires and controlling invasive species. The benefi'ciaries of the work of the Causeway Coast and Glens Heritage Trust are.. The local population in terms of improved access, heritage events and interpretation and development of outdoor skills and active lifestyles. The general public including out of state visitors in terms of the conservation of the Areas of Outstanding Natural Beauty as a public asset. improved access to enjoy the area and enhanced appreciation and enoyment of the area through providing information on the living heritage, flora and fauna. Local landowners through the control of unwanted access and the safeguarding of boundaries and livestock through the building and repair of paths, stiles and bridges. Local landowners receive a private benefit through the Control of unwanted access and the safeguarding of boundaries and livestock. There are no private benefits lo any other individuals connected with the organisation other than the payment of salaries to staff which is a necessary requirement in order to provide our services and therefore incidental to the carrying out of our purpose. Achievements and performance 2022-23 proved to be a challenging but rewarding year for CCGHT. This year (hopefully} saw the e1 of COVID and a loosening of the reslriclions impacting upon us all. It meant that CCGHT was able to engage in much more direct face to face activity and perform more normally. The organisalion has, like many others, decided to learn from the COVID experience and continues to adopt hybrid working practices. This return to normal is reflected in the accounts which demonstrate an increase in non-salary related support costs from £67k to £93k. returning to pre-2020 expenditure levels. Salary costs increased from £458k to £475k reflecting the appointment of 2 new members to the team in December. This amounted to a like for like 2 % increase in salary and related costs against a much larger than expected pay settlement. CCGHT follows the national NJC pay agreements Feached betWn local authorities and employees which increased pay bills by almost 10 %. CCGHT'S Finance and Governance Subcommittee, on behalf of its Board, keeps a close eye and tight control on running costs and expenditure. CCGHTS income and expenditure reached record levels. This was largely due to the step up in actimty of the Binevenagh Landscape Partnership Scheme. Overall income rose from £768k to £857k and expenditure from £720k to £875k. The operating deficit of £22k was In line with agreed budget allocations. The 2 new part-time members of staff are Gary Shaw, who was appointed as Fundraising Manager, and Portia Woods, the Communication Officer. These posts are designed to make the organisation more resilient. Appointments were made following generous support from the Department for Communities and National Lottery Heritage Fund Perhaps the greatest disappointment for CCGHT this year has been the difference in ils relationship between the organisation its partner Councils. A strong and effective relationship exists with Causeway Coast and Glens Borough Council. CCGBC has agreed that from 2023 onwards its payrnenl to CCGHT should increase in line with inflation, the first increase since 2015. Additional work this year has included Chris Millar reviewing the walking trails network across the Council area including the Causeway Coast Way. A different story exists with Mid and East Antrim Council, which, desplte significant benefits reatised in its area, has neglected to provide funding for CCGHT. CCGHT is exploring mechanisms to see how this situation can be addressed. The overall Council position is far from that adopted by the 2 Council appointed Board members Councillor Maureen Morrow and Alderman Tommy Nicholl who could not have been more supportive and committed to the work of CCGHT.
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 2022-23 saw the last year of a 4-year funding cycle from DAERA'S Environment Fund. It is expected that in 2023 an annountsment will be made for a new 5-year funding cycle from the "carrier bag levy.. This will provide a solid base for CCGHT lo continue its important work. This year CCGHT received £288k from DAERA which allowed il to provide the effective management of the 3 AONBS in the area and to oversee the strategic management of the Giant's Causeway World Heritage Site by the team led by Nikki Maguire. Further support was received from DAERA to undertake WHS management plan activities including a technical assessment of the Causeway stones, a series of marine beach clearances and the promotion of resilient farming practices in the distinctive setting of the WHS. CCGHT also completed the periodic report for UNESCO confirming the state of the WHS. CCGHT continues, through DAERA support, to provide a suite of activities on Rathlin Island including support for the LIFERAFT project. Perhaps the most innovative activity engaged in by the CCGHT team this year was to build on work undertaken by the Binevenagh LPS Team and. through DAERA funding. build on the establishment of a native tree nursery in HM P Magilligan. CCGHT staff, in particular Aisling Gribbin, have worked closely with Officers and inmates from the prison to grow native trees for use in environmental and other projects. 11 is hoped that this project may be built upon and become self-suslaining with any surplus being invested in CCGHT'S environmental activities and to assist the prison in delivering further prisoner rehabilitation work. The Binevenagh LPS entered its 3rd year with activity lovels ramping up. This 5-year strategic project, based at Magilligan Field Centre, is promoting natural heritage, outdoor recreation and built heritage activtiies in the area. The built heritage activities are primarily focused on defence heritage and progress has been made in the development of restoration projects for the Limavady Airfield Trainer Dome and the fomier Magilligan anti-aircraft battery under the watchful eye of our in-house archaeologist Grace McAllister', natural heritage projects undertaken by Laura McAuley have included the restoration of Casllerock Moors and riparian work at the Curly Burn, Outdoor Recreation activities have proven to be slower to gel off the ground for a wide range of reasons. Excellent progress, driven by Mel McQuitty, has been made in the development of the Castlerock Tales and Trails project. The LPS has been masterfully chaired by Roy Baillie and led by Andrew Bratton. CCGHT is grateful for the continued support of all the LPS Board members and the on-going financial contributions from CCGBC, the National Trust, the Loughs Agency, the Woodland Trust and of course the main funder the National Lottery Herttage Fund. This year saw the GonGlusion of probably the last programmes funded through the Eus Northern Perit*)ery and Arctic Programme. The COAST programme highlighted issues relating to isolated coastal communities and involved partners in Iceland, Finland, Sweden and Ireland. The Northern Irish case study was Rathlin and a toolkit was developed to assist in coming to terms with many of the issues faced. The Northword StoryTagging Programme involved partners in Scotland, Finland and Sweden. This innovative programme involved the collection of stories and using those stories to develop creative projects to promote tourism activities in the area and enhance the activities of the selected artists and artisans.
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 CCGHT continues to support the Economusée network managed by Carole O'Kane and Tierna Mullan. The COVID emergency saw Hillslown Brewery and Scullion Hurls refocus their activities and cease operating as Economusées,. it is hoped that at some stage in the future they will return to the fold. On a more pos11ive note Fidela Coffee from Coleraine was launched as the 13th workshop. CCGHT receives little financial support for the promotion of the network bul plans are in development to find funding sources to allow the network to thrive and expand. Amongst the many individual projects delivered by CCGHT the Uncharted Histories Project led by Rachel Garrett has perhaps received the most publicity. Again, supported by CCGBC, an online map was developed for the Causeway Coast AONB area highlighting places of interest and including links to stories and oral histories from and about the people of the area. This has proven to be a very popular resource. This year saw CCGHT biggest ever corporate donation. We are exceptionally grateful to Proximo Spirits, the owners of Bushmills Distillery who appointed CCGHT as ils charitable partner. CCGHT was the recipient of the entirety of the monies raised in a charity auction. This exceeded £43k. 12 sets of12 miniatures of limited-edition Bushmills whiskeys released the previous year were auctioned online. It is hoped that the relationship will continue in future years. During the year CCGHT said farewell to long-standing Board members Shirley Orr and Hubert Nichol. The Board and staff are grateful for their long years of service. Andrew McAllister, Julie Taylor and Robert Wilson were appointed lo the Board with Joan Condell and Paul Jose assurning shadow roles prior to their substantive appointments when the current Chair and Deputy Chair, Graham Seymour and Fioy Craig, step down later in 2023. Finally, a huge vote of thanks should be given to our administrative team-. Ann-marie Laverty and Barbara Lynch who provide excellent support and guidance to allow the team to deliver on its many varied activities. Financial review The Charity regularly reviews its policy on risk. The main risks to the Charity are associated with being adequately funded to continue with its main objectives. The Charity is heavily dependent on grants from DAERA each year, with DAERA being the biggest individual funder with a grant of £288,102. The net deficit for the year to 31 March 2023 was £21,592 {2022. nel surplus of £52,163). The organisation has assessed the major risks to which the charity is exposed and is satisfied that systems are in place to mitigate exposure to the major risks.
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITEids ¢Irtered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 structure, governance and management The charity is a company limited by guarantee. Causeway Coast and Glens is governed by a memorandum and articles of associatior). the company is recognised as a charity by HMRC (Charity Number: 1060641. The Truste8s', who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were.. Shidey Orr Max Bryant George McAuley Margaret Anne McKillop Graham Seymour Hubert Nicholl Sandra Hunter Roy Craig Mary Morrow Thomas Nicholl Patrick McKeever Sharon McKillop Oliver Mcmullan Dr P Jose Mr A McAlisler Mrs J Taylor Mr R H M Wilson Mr WT Kennedy Mr R J Stewart (Resigned 20 September 20221 (Resigned 27 June 2023) {Resigned 30 June 2023} (Resigned 20 September 2022) (Resigned 30 June 2023) (Resigned 30 June 2023) (Resigned 27 June 2023} (Resigned 27 June 2023} (Appointed 27 June 2023) (Appointed 20 September 2022) (Appointed 20 September 20221 (Appointed 20 September 20221 {Appoinled 30 June 2023) (Appointed 30 June 2023) None of the Trustees, has any beneficial interest in the company. All ofthe Trustees, are members of the company and guarantee lo contribute £1 in the event of a winding up. CCGHT is a publiclprivatel voluntary sector partnership set up in 2002 and managed by a Board of 13 TNslees who are familiar with and have knowledge and regard to the Charity Commission Nl's Publio Benefit requirements. Representation on the Board includes the local councils, voluntary sector bodies, tourism, government, farming and cotnmunity organisalions. With a small core staff and time bound project staff the Causeway Coast & Glens Heritage Trust is led by the Chief Executive Officer in the small North Antrim village of Armoy. The Causeway Coast and Glens Heritage Trust (CCGHT) has no statutory powers and as such seeks to influence and work in partnership with a range of statutory and other bodies to achieve Its aims, purposes and objectives. In addition to influencing strategic direction, CCGHT secures and distributes funding to assist in the implementation and delivery of its own objectives. It supports the development of strategies and the delivery of programmes and plans, which aim to ensure the long-term benefit of the area and to balance this with current economic developmenl in a sustainable manner. CCGHT has responsibility for a large area of Northern Ireland covering two council areas- Causeway Coast & Glens and Mid & EastAntrim Borough Councils. It includes IhreeAreas of Outstanding Natural Beauty - Binevenagh, Causeway Coast (including the Giant's Causeway and Causeway Coast World Heritage Site) and Antrim Coast and Glens (including Ralhlin Island). It also includes several Ramsar sites, which all have international importance for their bird life alongside many Special Areas of Conservation, Special Protection Areas and Areas of Special Scientific Interest.
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITEids chartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2023 Statement of Trustees. responslbllltles The Trustees,, who are also the directors of Causeway Coast and Glens Heritage Trust Limited for the purpose of company law, are responsible for preparing the Trusteeg, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees, to prepare financial statements for each financial year which give a true and fair view of the stale of affairs of the charity and of the incoming resources and application of re sources, including the income and expenditure, of the charitable company for that year. In preparing these fi'nancial statements, the Trustees, are required to.. select suitable accounting policies and then apply them consistentSy', observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees, are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Audltor In accordance with the cornpany's articles, a resolution proposing that IDS Chartered Accountants LLP be reappointed as auditor of the company will be put al a General Meeting. Disclosure of information to auditor Each of the Trustees, has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to eslabllsh that the auditor is aware of such information. The Trustees, report was approved by the Board of Trustees,. Graham Thompson (Secretary) Dated.. 19 September 2023
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES, OF CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED Opinion We have audited the financial statements of Causeway Coast and Glens Heritage Trust Limited {the 'charity') for the year ended 31 March 2023 which comprise the statement of financial activities, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable the UK and Republic of Ireland (United Ktngdom GenerallyAccepted Accounting practi). In our oplnlon, the financial statements.. give a truo and fair view of the stale of the charitable company's affairs as at 31 March 2023 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., havo been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi., and have been prepared in accordance with the requirements ofthe CompaniesA¢t 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UKII and applicable law. Our responsibilities under those standards are further described in the Auditoffs responsibilities for the audit ol the financial statemgnts section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financlal statements in the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion. Conclusions relating to going concern In auditing the financial statements. we have concluded that the Trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability lo continue as a going concern for a period of at least twelve months from when the financial statements are authonsed for issue. Our responsibilities and the responsibilities of the Trustees, with respect to going concern are described in the relevant sections of this report, Other Information The other information comprises the information inc5uded in the annual report other than the finalar statements and our auditor's report thereon. The Trustees, are responsible for the other infomation contained within the annual report. Our opinion on the financial statements does nat cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. Our responsibility is to read the other infomation and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES, OF CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Trustee5' report for the financial year for which the financial statements are prepared, which includes the directors, report prepared for the purposes of company law, is consistent with the financial statements, and the directors, report included within the Trustees, report has been prepared in accordance with applicable lega5 requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the Trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have nol been received from branches not visited by us., or the financial statements are not in agreement with the accounting recoids and returns., or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit.. or the Trustees, were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a strategic report. Responsibilities of Trustees, As explained more fully in the statement of Trustees, responsibilities, the Trustees,, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees, determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, In preparing the financial slalements, the Trustees, are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the golng concern basis of accounting unless the Trustees, either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's responsibilities for the audlt of the flnancial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our Dpinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. 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-compliance with laws and regulations, was as follows.. we identified the laws and regulations applicable to the charity through discussions with members and other management and frorn our commercial knowledge and experience of the sector; we assessed the extent of compliance with the laws and regulations identified above through making enquiries of members and inspecting legal correspondence.
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES, OF CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED We assessed the susceptibility of the charity's fnanCIal statements to material misstatement, including obtaining an understanding of how fraud might occur, by.. making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actua1, suspected and alleged fraud., considering the internal controls in place to mitigate risks of fraud and non-compliance wth laws and regulations., and performing analytical procedures to identify any unusual or unexpected relationships., reviewing journal entries to identify unusual transactions., assessing whether judgements and assumptions made in determining the accounting estimates were Indicative of potential bias- investigating the rationale behind any significant or unusual transactions. In response to the risk of irregularities and non-compliance wlth laws and regulations, we designed procedures which included, but were not limited to.. agreeing financial statements disclosures to underlying supporting documentation; reading the minutes of meetings ofthose board of members., enquiring of management as to actual and potential litigation and claims., revlewlng legal correspondence. There are inherent limitations in our audit procedures described above. The more removed laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the aLtdil procedures required to identify non-cornpliance with laws and regulations to enquiry of the members and other management and the inspection of regulatory and legal correspondence, if any. Material misstatemonts that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate COnalment or collusion. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https'.11 www.frc.org.uklaudilorsresponsibilities. This description forms part of our auditor's report. This report is made solely to the company's members. as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required lo stale to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed. Mr lan H Donaghey (Senior Statutory Auditor) for and on behalf of IDS Chartered Accountants LLP Chartered Accountants statutory Auditor 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG 19 September 2023 10-
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITEids chartered accountants STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted Restricted funds funds 2023 2023 2023 2022 Notes Grants received Investment income 184,069 2,726 669,976 854,045 2,726 767.029 1.270 Total income 186,795 669,976 856,771 768,299 nditure on: Expenditure of restricted grant income 198.921 675,925 874,846 720,107 Net gainsl{losses) on investments (3,517) (3,517) 3,971 Net movement In funds (15,643) (5,9491 {21,592) 52,183 Fund balances at l April 2022 1484,598} 789,381 304,784 252,620 Fund balances at 31 March 2023 (500,241 } 783,432 283,191 304,783 The statement of f1nancial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 11
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants BALANCE SHEET ASAT 31 MARCH 2023 2023 2022 Notes Fixed assets Tangible assets Investments 11 12 27,188 90,060 19,486 90,858 117,248 110,344 Current assets Debtors Cash at bank and in hand 13 133,626 51,849 18.268 194,345 185,475 212,613 Creditors: amounts falling due within one year 14 (19,5321 (18,174) Net Current assets 165,943 194,439 Total assets less current Ilabilitles 283,191 304,783 Income funds Restricted funds Unrestricted funds 783,432 (500,241) 789,381 (484,598) 283,191 304 783 The financial statements were approved by the Trustees, on 19 September 2023 Graham Seymour Trustee Roy Craig Truste Company registration number N1043293 12-
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policTes Charity informatJon Causeway Coast and Glens Heritage Trust Limited is a private company limited by guarantee incorporated in Northern Ireland. The registered office is The Old Bank, 27 Main Street, ARMOY, Co Antrim, BT53 8SL. 1.1 Accounting convention The financial statements have been prepared in accordance with the charity's memorandum, the Companies Act 2006 and Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191" Tho charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions In the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to Ihe nearest £. The financial statements have been prepared under the historical cost convention, Modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Charltable funds Unrestricted funds are available for use al the discretion of the Trustees, in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject lo specific conditions by donors that the capital must be maintained by the charity. 1.3 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is piobable that income will be reived. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under GiftAid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 13-
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) 1.4 Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related lo the category. where costs cannot be directly attributed top particular headings they have been allocated to activities on a basis consistent with use of the resources. Piemises overheads have been allocated on a floor area basis and other overheads have been allocated on the basis of the head count. Fund raising costs are those incurred in seeking voluntary contrlbutions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management carried out at Headquarters. Management and administration costs are incurred in connection with administration of the charity and compliance with constitutional and statutory requirements. 1.5 Tangible fixed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impaiment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases.. Fixtures and fittings 20 % Reducing Balance The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.6 Fixed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are reGognised in net incomel{expendilurel for the year. Transaction costs are expensed as incurred. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks. other short-temi liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Olher Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or lo realise the asset and settle the liability sitnultaneously. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured a transaction price including transaction costs and are subsequently carried at amortised cost using the effective nterest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 14-
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) Basic financial lialjilities Basic financial liabilities, including creditors and bank loans are initially recognised al transaction price unless the arrangement constitutes a financing Iransaclion, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as Current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured al amortised cost using the effective interest method. 1.9 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee'5 services are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide tennination benefits. 1.10 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the charity's accounting policies, the Trustees, are required to make judgernents, estimates and assumptions about the carrying amount of assets and liabilities tFiat are not readily apparent from other sources, The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 15-
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITEids chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Grants received Unrestricted Restricted funds funds Total Restricted funds 2023 2023 2023 2022 Grants received 184,069 669,976 854,045 767,029 Grants receivable for core activities DAERA National Heritage Lottery Causeway Coast and Glens Council Nl Tourism Board EU Project Income Other 288,102 226,120 25,087 288,102 275,770 87,087 28,250 43,879 130,957 227,819 278,688 103,500 47,500 49,650 62,000 28,250 43,879 86,788 44,169 109,522 184,069 669,976 854,045 767,029 Investment income Un restricted Un restricted funds funds 2023 2022 Income from unlisted investments Interest receivable 2,719 1,199 71 2,726 1,270 16-
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Expenditure of restricted grant in¢ome 2023 2022 BLPS NIEA Natural Heritage Grant Other projects 188,516 90,341 27,643 123,323 46,238 25,518 306,500 195,078 Share of support costs (see note 6) Share of governance costs (see note 6} 563,632 4,714 520,829 4,200 874,846 720.107 Analysis by fund Unrestricted funds Restricted funds 198,921 675.925 341,268 378,839 874.846 720,107 17-
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Governance costs costs 2023 Support Governance costs costs 2022 Staff costs Depreciation Exchange Losses Motor & travel Rent, rates, insurance & utilities Telephone Computer costs Support costs heading 6 Repairs, cleaning & equipment hire Printing, postage & stationery Sundry expenses 475,358 6,797 1.051 21.941 475,358 6,797 1,051 21,941 458,345 4,872 833 12,750 458,345 4,872 833 12,750 18,950 8,326 11,679 2,706 18,950 8,326 11,679 2,706 13,083 12,640 10,180 13,083 12,640 10,180 1,015 1,015 956 956 4,273 11,536 4,273 11,536 1,192 5,978 1,192 5,978 Audit fees 4,714 4,714 4,200 4,200 563,632 4,714 568,346 520,829 4,200 525,029 Analysed between Charitable activities 563,632 4,714 568,346 520,829 4,200 525,029 Governance costs includes payments lo the auditors of £4,714 for audit fees. Trustees. None of the Trustees, (or any persons connected with them} received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was.. 2023 Number 2022 Number Direct charitable activities Adminstration 13 Total 14 14 18-
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARGH 2023 Employees (Continued) Employment costs 2023 2022 Wages and salaries Social security costs Other pension costs 409,646 39,974 25,738 398,661 36,061 23,623 475,358 458,345 There were no employees whose annual remuneration was £60,000 or more. Net gainslllosses} on investments U nrestricted Unrestricted funds funds 2023 2022 Revaluation of investments (3,517) 3,971 10 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. 11 Tangible fixed assets Fixtures and fittings Cost At 1 April 2022 Additions 110,079 14,498 At 31 March 2023 124,577 Depreciation and impairment At 1 April 2022 Depreciation charged in the year 90,592 6,797 At 31 March 2023 97,389 Carrying amount At 31 March 2023 27,188 At 31 March 2022 19,486 19-
CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMIT chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 12 Fixed asset investments Llsted Investments Cost or valuation At 1 April 2022 & 31 March 2023 90,658 Carrying amount Al 31 March 2023 90,858 At 31 March 2022 90,858 13 Debtors 2023 2022 Amounts falling due within one year: Prepayments and accrued income 133,626 18,288 14 Creditors: amounts falling due within one year 2023 2022 Corporation tax payable Other taxation and social security Other creditors Accruals and deferred income 14 9,516 1,267 8,735 14 10,153 394 7,613 19,532 18,174 15 Analysis of net assets between funds Unrestricted Restricted 2023 2023 Total Unrestricted Restricted 2023 2022 2022 Total 2022 Fund balances at 31 March 2023 are represented by= Tangible assets Investments Current assetsl{liabilities) 27,188 90,060 (617,4891 27,188 90,060 165,943 19.486 90,858 (594,942) 19,486 90,858 194,439 783,432 789,381 (500,241) 783,432 283,191 1484,5981 789,381 304,783 -20-