ids. Chartered accountunts Company Registration No. N1043293 {Northern Ireland) 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 2024 IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1 BG
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED chartered accountants CONTENTS Page Legal and administrative information Trustees, report Statement of Trustees, responsibilities Independent auditols report 9-11 Statement of financial activities 12 Balance sheet Notes to the financial statements 14-22
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED chartered accountants LEGALAND ADMINISTRATIVE INFORMATION Trustees Mrs Julie Ann Taylor Mr George McAuley Prof Joan Condell Mr Roy Craig Cllr Bill Kennedy Dr Paul Jose Mr Andrew McAlister Prof Palrick McKeever Cllr Oliver Mcmullan Mr Graham Seyrnour Ald Richard Stewart Mr Robert Wilson Cllr John Wisener (Appointed 19 September 20231 (Appointed 30 June 20231 (Appointed 27 June 2023} (Appointed 30 June 2023) (Appointed 4 June 20241 Secretary Mr G WThompson Charity number 106064 Company number N1043293 Registered offl¢e The Old Bank 27 Main Street ARMOY Co Antrim BT53 8SL Auditor IDS Chartered Accountants LLP 23125 Queen Street COLERAINE Co Londonderry BT52 1BG
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED chartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 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 2024. The accounts have been prepared in accordance with the accounting policies sel out in note 1 lo t? account5 and comply with the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) {effective 1 January 20151.. Objectives and activlties The charity's objects are specifically restricted to promotion for the benefit of thè public of Ihe advancement of education. the promotion of sustainable development and biological diversity, the advancement of rural regeneration and the Conservation, maintenance, improvement and proteclion of the physical, natural and built environment of the Causeway Coast and Glens. The poliaes 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 slalutory authority in the principles and practice of conservation, and the conservation and protection of wildlife and marine life in an effort to encourage ¢onservation', to advance, promote. preserve and further the consenfalion maintenance and prolection of features of the landscape in the area of benefit with geographical, historic, physiographical or amenity value and to enhance their contribution lo existing environmental amenities in the area of benefit for the public benefit., to advance the education of the public in subjects relaling lo suslainable development and Ihe protection. management, enhancement and rehabilitation of the environment and lo encourage and promote study and research in such subjects provided that the useful results of such study are di5seminaled to the general public-, lo advance any other exclusively charitable purpose as the directors. may from time to time. decidè in accordance with the law of charity. The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities Ihe charity should undertake. The direct benefits that flow from CCGHT'S purposes are.. Habitai protection and enhancemenl through measures including e$tabli5hing habitat management plans, controlling invasive species and addressing the risk of wild fires. Proleclion 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 Tepair 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 lo protection of cultural values. heritage and the environmenl 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 current and future generations.. development of outdoor skills and active lrfestyles.
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED ¢hartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Our activities are designed to enhance and protect the environment and contribute to welkbeing. Any potential hamis are outweighed by the benefits and alleviated Ihrough resp8cling the rights of all stakeholders. managing access, reducing wildfir8s and controlling invasive species. The beneficiaries of the work of the Causeway Coast and Glens Heritage Trust are: The local population in terms of improved access, heritag@ events and interpretation and development of outdoor skills and active lifestyles. The general PLtblic including out of state visltors in terms of the conservation of the Areas of Oulstanding Natural Beauty as a public asset, irllproved access lo enjoy the area and enhanced appreciation and enjoyment of the area Ihiough 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 path5. Stiles and bridge5. Local landowners receive a private benefit through the control of unwanted awess and Ihe safeguarding of boundaries and livestock. There are no private benefits lo any other individuals connected with the organisalion other Ihan the payment of salaries lo staff which is a necessary requiremenl in order to provide our services and therefore incidental to the carrying out of our purpose.
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED ¢hurtered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance 202&24 ha5 proven to be a successful year for Causeway Coast and Glens Heritage Trust. For the first tim8 Its income levels have exceeded £1m leaving the organisalion in a sound financial position. Imth cash, monies owed and assets in the region of £500k this leaves the Trust well within the sustainability paramelers set out by Ihe Charity Commission. CCGHT continues to work closely with its key partners in the Northern Ireland Environment Agency, the National Lottery Heritage Fund, Causeway Coast and Glens Borough Council and Tourism Northern Ireland delivering a wide range of activities and projects that ensure the sound and sustainable mana9emenl of some of Northern Ire and's most important protected areas, promote sustainable and regenerative tourism and rural diversification. This year CCGHT'S core activities have been primarily fvnded by NIEA supported by CCGBC and TNI. 2023-24 was the first year of the new 5-year strategic support prograrnme under NIEA'S Environment Fund. Due to an increase in funds available from the Carrier Bag Levy, funding levels increased from £175k to £320k per annum. This has allowed CCGHT to engage in more strategic activity and has provided real security for the organisalion over the medium term. 11 has resulted in staff gaining more confidence in the stability of their own posts resulting in significant benefits for the organisation. NIEA funding has meant that CCGHT has been able to prowde greater focus on the development and ddivery of Tnanagemenl and action plans for the areas 3 AONBS. Antrim Coast and Glens, Binevenagh and Causeway Coast and also the Giant's Causeway and Causeway Coast World Heritage Sile. Through the Environment Fund CCGHT has taken on a renewed role in Marine and Coastal protection. This has resulted in the appointment of Geoff Nuttall as the new Marine and Coastal Manager. Key to this role will be delivery of CCGHTS responsibility for a rejuvenated Rathlin Island Environmental Forum. The 5-year funding package has allowed CCGHT lo refocus ils operational structure in line with its strategic direction. In addition to marine mallers Geoff Nullall will assume responsibilily for the Antrim Coast and Glens AONB. Nikki Maguire will focus on the Causeway Coasl AONB and the WHS as well as taking the lead in Geopark development. Andrew Bralten will retain responsibility for the Binevenagh Landscape Partnership Scheme andAONB. In 2023-24 it was agreed by all stakeholders that CCGHT would establish a new Dark Hedges Management Forum taking over responsibility from the exisling Dark Hedges Preservation Trusl. lIe the new body is in the process of being established, CCGHT has. in good faith, taken on responsibility for maintenan¢e of the Bregagh Road avenue and undertaken vital tree maintenance activity as well as respond lo the aftermath of Stomi Isha. In lolal nine trees were removed. While il is understood that the Dark Hedges has a finite lrfe cycle it is expected that with proper management and co-operation the life span can be extended ensuring a conlinualion of Ihe Dark Hedges experience and the use of the site as an importanl tourist deslinalion. In 2024-25 il is expected that a slralegi¢ maslerplan will be developed for the site which will include a tree management plan for the avenue itself. CCGHfs biggest ever Single projecl has been acting as the lead partner in the Binevenagh and Coastal Lowlands Landscape Partnership Scheme. The scheme funded by Heritage Lottery. the Woodland Trust, National Trust, CCGBC and others entered the third of its 5 years of delivery in 2023. Following a slow start due to COVID, activities have picked up pace particularly in the areas of natural heritage and cultural heritage where the primary focus has been defence heritage. During the year The Moors at Castlerock and the Tails and Trails projects in the village have been completed. Significant progress has been made regarding the repUOSing of the Limavady WWII Trainer Dome and the Magilligan Anli-Aircraft Baltery. On the downside clrcumslances have resulted in changes to a number of Outdoor Recreation projects. Unfortunately, following agreement wilh all private landowners, we have been unable to complete thè development of the Myroe Trail. due lo a change in interpretation in policy by officials in DAERA. The outstanding success of the LPS has been the development of the Magilligan Tree Nursery. CCGHT, in partnership with HMP Magilligan, has developed a tree nursery in the grounds of the prison. A5 part of their rehabililalion process prisoners havè been learning horticultural techniques assisting in the growing and bringing on of a wide range of native tree species. CCGHT is grateful to DAERA and the Dormont Accounts Ftsnd administered by Charities Lottery for support in this project.
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED Chartered accoufjtants TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The impending work al Dark Hedges and the existing work in Magilligan have resulted in CCGHT beginning ihe process of eslablishing a trading cornpany. 11 is hoped that the locations will soon become self-suslaining allowing for surpluses lo be used to support the on-going work of the Trusl. A significant amount of the day-to-day activity of CCGHT staff has involved working in partn&rship with others in the development of new and refreshed projects. The Twsl has been central to the developmenl of several partnership applications into the Peace+ funding stream which will hopefully come lo fruition in 2024-25. Additionally, the Trust has been instrumental in the rejuvenation of the Northem Ireland Protected Areas Nefwok which is being refocussed under the new umbrella of Landscapes Nl. A small pot of funding from the Arts Council of Northern Ireland's Art5 & Older People Programme allowed CCGHT to work with the more rnature members of our area through the Culturally Creative Communities project. Additionally. the Trust has been an active partner in the Northern Ireland Environment Link led Heritage for Health project. Both programmes focussed on making our heritage more accessible to more members of our ommunity. CCGHT continues to adopt an active role in the field of sustainable and regenerative tourism. Without funding from any major sour, the Trust continues lo oversee, manage, co-ordinate and promote the Economussee network which currently ha5 eleven members throughout its area of operation. Plans to host an InlematiODal ConferenGe in the area this year were delayed until 202425. The Trust has been actively engaged in developing the concept of comtnunily tourism. 2023-24 has been a year of change regarding the people involved with CCGHT. The Trust's Chair, Graham Seymour, and Deputy Chair, Roy Craig, both stood down and were replaced by existing Board members Julie Taylor and George McAuley respectively. The appointments of Professor Joan Condell and Dr Paul Jose were confimed following their participalion in the work of the Trust as Observers. The Trust has also been grateful for the setvice of Max Bryant. the National Trust's Tepresenlative, who stood down on his appointment as the new Chief Executive of Northern Ireland Environment Link Following the 2023 Council elections 5 Councillor Board members stood down. Sandra Hunter and Margaret- Ann McKillop had served two full terms as represenlalives of CCGBC. Sharon McKillop of CCGBC and Tommy Nichol and Maureen Morrow of Mid and East Anlrim Borough Council also slood down. M&EABC had decided not to provide financial support lo the Trust for 2023-24 and chose not to appoint new Directors. This decision disappointed greally the Board of CCGHT who decided that where previously and where possible discretionary spend had been prioritised in both councils this should now be limited to the CCGBC area. The Board was very clear that in the event of funding being reintroduced this policy would be reviewed and that aclivilies funded by other partners (particularly relating lo the Anlrim Coast and Glens AONB and Causeway Coastal Route} would continue. CCGHT is very grateful for Ihe work and commitment of those who stood down during the year and is particularly pleased lo see former Board members contir)uing lo participate in other Trust aclivilies. The Trust has welcomed the appointments of Councillors Bill Kennedy and Richard Stewart onto the Board and Olwer Mcmullan's appointment for an addrtional term. 2023-24 has seen staff leaving and joining the Trust as well as some important absences. Aisling Gribbin has seen her post as Tree Nursery Officer confirmed and is now supported by Erin Boyle as tree Nursery Assistant. Rachael Marshall resigned from her position in the Causeway Team and was replaced by Grace McAllister. As a result of GraGe moving from the Binevenagh Team her responsibilities have been laken on by Barbara Lynch. This year a150 saw Iwo additions to the CCGHT family., Nikki Maguire and Laura McAuley both took well deserved maternity leave aller we were joined by Emily and Shane. FlnanGlal revlèw The Charity regularly reviews its policy on risk. Th8 main risks lo the Charity are associated with being adequately funded to continue with ils 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 2024 was £209,65212023.' net sutplus of £21,592). The organisation has assessed the major risks to which the charity is exposed and is satisfied that system5 are in place to miligale exposure to the major risks.
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED ¢hartered occountants TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 Structure, governancè and management The charity is a company limited by guarantee. Causeway Coast and Glens is governed by a memorandum and articles of association. the company is recognised as a ¢hariiy by HMRC (Charity Number: 106064). The Truslees, who are also the directors for the purpose of company law, and who served during the year and up to the dale of signature of the financial statements were.. Mrs Julie Ann Taylor Mr George Ma4uley Prof Joan Condell Mr Roy Craig Cllr Bill Kennedy Dr Paul Jose MrAndrew McAlister Prof Patrick McKeever Cllr Oliver Mcmullan Mr Graharn Seymour Ald Richard Stewart Mr Robert Wilson Cllr John Wisener Ms MargaretAnne McKillop Mr Max Bryant Ms Sandra Hunter Ms Sharon McKillop Ms Mary Morrow Mr Thomas Nicholl {Appointed 19 September 2023) (Appointed 30 June 2023) (Appointed 27 June 2023) (Appointed 30 June 2023) (Appoinled 4 June 2024) (Resigned 30 June 2023) (Resigned 27 June 2023) (Resigned 30 June 2023) (Resigned 27 June 2023) (Resigned 30 June 2023) (Resigned 27 June 2023) None of the Trustees has any beneficial interest in the company. All of the Truslees are members of th8 company and guarantee to contribule £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 Trustees who are familiar with and have knowledge and regard lo the Charity Commission Nl's Public Benefit requirements. Representation on the Board includes the local councils, voluntary sector bodies, tourism, government, farmin9 and ¢orntnunity organisations. With a small core staff and time bound project staff the Causeway Coast & Glens Heritage Trust is led by the Chief Executive Offir£r in the small North Antrim village of Armoy. The Causeway Coast and Glen5 Heritage Trust ICCGHT) has no slatulory powers and as such seeks to influence and work in partnership wrth a range of slatulory and other bodies lo achieve its aims. purposes and objectives. In addition to influencing stralegic direction. CCGHT secures and distributes funding to assist in the implem8nlalion and delivery of its own objectives.11 supports the development of strategies and the delivery of programmes and plans, which aim lo ensure the long-term benefit of the area and to balance this with current economic d8velopment in a sustainable manner. CCGHT has responsibility for a large area of Northern Ireland covering two council areas- Causeway Coast & Glens and Mid & East Antrim Borough Councils. It includes Ihree Areas of Outstanding Natural Beauty Binevenagh. Causeway Coasl (including the Giant's Causeway and Causeway Coast World Heritage Silè} and Antrim Coast and Glens (including Rathlin Island). It also includes several Ramsar siles. which all have Snternalional importance foi their bird life alongside many Special Areas of Conservation, Special Protection Areas and Areas of Special Scientific Interest. Auditor In accordance with the company's articles, a resolution proposing that IDS Chartered Accountants LLP be reappointed as auditor of the company will be put at a General Meeting.
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED hartered accountants TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 Disclosure of infonnation to audltor Each of the Trustees has confimied that there is no information of which they are aware whith is relevant to the audit, bul of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the audilor is aware of such information. The Trustees, report was approved by the Board of Trustees. Gra arn Thompson (Secretary) Dated.. 24 September 2024
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED ¢hortered accountants STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The Trustees, who are also the directors of Causeway Coast and Glens Heritage Trusl Limited for the purpose of company law. are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclice). Company Law requires the Trustees to prepaTe financial Statements for each financial year which give a true and fair view of the stale of affairs of thè charity and of the incoming resources and application of resources, induding the income and expenditure, of the charitable company for that year. In preparing these financial statemenls. the Trustees are required to- select suitable accounting policies and then apply them consislenlly.. obseFve the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent. and prepaTe the financial statements on the going concern basis unless it is inappropriate lo presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting rècords that disclose with reasonable accuracy at any lime the financial position of the charity and enable them lo ensure that the finanrial slalements comply with the Companies Act 2006. They are also responsible for safeguarding Ihe assels of the charity and hence for laking reasonable steps for the prevenlion and detedion of fraud and other irregularitie5.
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED ¢hartored cccountants INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED Opinlon We have audtted Ihe financial statements of Causeway Coast and Glens Heritage Trust Limited (the 'charity'} for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet and notes to the financial slalements. 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 standa applicabl8 111 tha UK and Republic of Iraland (Unrted Kingdom Generally Accepted Ac¢ounling Praclice}. In our opinion. the financial slat8m&nts'. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expendrture. for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounling Practi., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Audilorfs responsibilities lor tha audit ol tho financial stalements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial 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 to provide a basis for our opinion. Conclusions relating to going concem In auditing the financial stalemenls, we have concluded that the Trustees. use of the going concern 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 Ihat, individually or collectively, may casl significant doubl on the charity's abilily to continue as a going concem for a period of at least e1ve months from when the financial slatements are authorised for issue. Our re5ponsibililies 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 infomiation included in the annual report other than the financial statements and our auditorfs report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial slalements does not cover the other informalion and, except to the extent otherwise explicitly slated in our report. we do not express any form of assurance conclusion thereon. Oui responsibility is to read the other information and. in doing 50, consider whether the other infom)ation Is materially inconsislent with the financial statements or our knowledge oblained in the course of the audil. or otherwise appears to bo materially misstated. If we identify such material inconsistencies or appart material misslalements, we are required lo 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 thera is a material misstatement of this other information, we are required to report that fact. We have nolhing to report in this regard.
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED ¢hortered accovntants INDEPENDENT AUDITOR'S REPORT (CONTINUED TO THE TRUSTEES OF CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED Opinions on other matters prescribed by the Companles Act 2006 In our opinion, based on the work undertaken in the course of our audit.. the information given in the Trustees, 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 ac¢ordance wilh applicable legal requirement5. Matters on whi¢h 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 misslalements in the directors, report included within the Truslees, report. We have nothing lo report in respect of the following matters in relation to which the Gompanies Ad 2006 requires us to report to you rf, in our opinion.. adequate accounting records have not been kepl, or retums adequate for our audit have not been received from branches nol visited by us., or the financial stslements are not in agreement with Ihe accounting records and retums., or certain disclosures of trustees, remuneration specified by law are not made., or we have nol received all the information and explanations we require for our audit., or the Trustees were not entitled lo prepare the financial statements in accordance with the small companies regime and lake advanla9e of the small companies, exemptions in preparing the Trustees, report and from the requirement to prepare a strategic report. Responsibilltles of Trustees As explained more fully in the statement of Trustees, responsibilities, the Trustees, who are also the directors of Ihe charity for the purpose of company law, are responsible for the preparation of the financial slatements and for being satisfied that they give a true and fair view, and for such internal ¢ontrol as the Trustees determine is necessary to enable Ihe preparation of financial slatemenls that are free from material misstalemenl, whether due lo fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charity's ability to continue as a going conrn, disclosing. as applicable, mallers related lo going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate Ihe charilable company 01 to cease operations, or have no realistic alternative but lo do so. Auditorf$ responsibilltles for the audit of the financial statements Our objectives are la obtain reasonable assurance about whether the financial slatements as a whole are free from material misslatement, whether due lo fraud or error. and lo issue an audilorfs report that indudes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance wilh ISAS (UK) will always delect a material misstatement when it exists. Misslalemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they ¢ould reasonably be expected lo influence the economic decisions of users taken on the basis of these financial slatements. The extent to which our procedures are capable of deteding irregularities. including fraud, is detailed below. Our approach lo identifying and assessing the risks of material misstatement in respect of irregularities induding fraud and non-compliance with laws and regulations, was as follows.. we identified the laws and regulalions applicable to the charity through discussions with members and other management and from our commerual knowledge and experience of the sector., we assessed the extent of compliance with the laws and regulations identified abov8 through making enquiries of members and inspecling legal correspondence. 10-
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED charterod accountants INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED We assessed the susceplibilily of the charity's financial statements lo material misstatement, including obtaining an understanding of how fraud might occur. by.. making enquiries of management as to where Ihey considered there was susceptibility to fraud, their knowledge of actual. suspected and alleged fraud., considering the internal controls in place lo mitigate risks of fraud and non-compliance with laws and regulations.. and perfomiing 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 estimales were indicative of potential bias., investigating the rationale behind any significant or unusual Iransactions. In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, bul were not limited to.. agreeing financial stalemenls disclosures to underlying supporting documentation: reading the minutes of meetings of those board of members., enquiring of management as lo actual and potential litigation and claims.. reviewing légal correspondence. There are inherent limitations in our audit procedures des¢ribed above. The morè removed laws and regulations are from financial transactions, the less likely il is that we would become aware of non-compliance. Auditing standards also limit the audrt ProdureS required lo identify non-compliance with laws and regulations to enquiry of the members and other managemenl and the inspection of regulatory and legal corresponden, if any. Material misstatements that arise due lo fraud can b8 harder to detect than those that arise from error as they may involve deliberate concealmenl or collusion. A further description of our r8sponsibilities is available on the Financial Reporting Council's website at.. htlps'.11 www.frc.org.ukJaudilorsresponsibilities. This description forms part of OUT audito¢s report. This report is made solely to the company's members, as a body. in accordance wilh 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 mallers we are required to slate to them in an auditorfs report and for no other purpose. To the fullest extent pemiilled 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 24 September 2024 11
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED chartered accountants STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restricted funds funds 2024 2024 2024 2023 Notes Grants received Core income Investment income 129.999 35,234 2.755 878,204 1.008,203 35.234 2.755 854,045 2,726 Total income 167.988 878.204 1,046,192 856,771 Expenditure of restricted grant incom8 205,740 637,250 842,990 874.846 Nel gainsl{losses} on investments 11 6.450 6.450 13,517) Net movement in fund5 (31.302) 240.954 209,652 (21,592) Fund balances at 1 April 2023 (500,241) 783,432 283,192 304,783 Fund balances al 31 March 2024 {531.543J 1.024.386 492.843 283,191 The statement of financial activities indudes all gains and losses recognised in the year. The statement of financial aclivrties includes all gains and losses recognised in the year. All income and expenditure dèrive from continuing activities. The statement of financial activities also complies with the requirements for an income and expenditure account under the CompaniesAcl 2006. 12-
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED Chartered accountants BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Notes Fixed assets Tangible assets Investments 13 14 30.778 99.242 27,188 90,060 130,020 117,248 Current assets Debtors Cash at bank and in hand 1S 73,665 306,726 133,626 51.849 380,391 185,475 Creditors: amounts falling due withln one year 16 (17,568) (19,5321 Net current assets 362.823 165,943 Total assets less current liabilitles 492.843 283.191 Net assets excluding penslon liability 492,843 283,191 The funds of the charlty RestTicted income funds Unreslricled funds 18 1,024.386 1531.543) 783,432 {500,2411 492,843 283.191 The financial statements were approved by the Trustees on 24 September 2024 Julie Ann Tayl Mr G60rge McAuley Company registration number N1043293 (Northern Ireland) 13-
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED eharteied orcountaAts NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcies Charity infomiation Causeway Coast and Glens Heritage Trust Limited is a privale company limiled by guarantee incorporated in Northern Ireland. The registered office is The Old Bank, 27 Main Street. ARMOY. Co Antrim. BT53 8SL. 1.1 Accounting tonvention The financial statements have been prepared in accordance with the charity's memorandum, the Companies Acl 2006 and "Accounting and Reporting by Charities.. Slalemenl of ReGommended Practice applicable to charities prepaiing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)" The 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 Slatemenl of Cash Flows. The financial stalemenls are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under Ihe historical c051 convention. modified to indude the revaluation of freehold properties and to include investment properties and certain financial instruments al fair value. The principal accounting policies adopted are set oul below. 1.2 Charttable funds Unreslricled funds ar6 available for use at th8 discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject lo specific conditions by donors or grantors as to how they may be us&d. The purposes and uses of the restricted funds are set out in the notes to the financial statemènts. Endowment funds are subject to specific conditions by donors that the capital musl be maintained by the charity. 1.3 Income Income is recognised when the charity is legally enlilled to it after any performance conditions have been mel, the amounts Can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performan conditions require deferral of the amount. Income lax recoverable in relation to donations received under Gifl Aid or deeds of covenant is recognised al the time of the donation. Legacies are recognised on receipt or otheiSe if the charity has been nolified of an impending distribution, Ihe amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. 14-
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED haltered occountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policies (Continued) 1.4 Expenditure All expenditure is accounted for on an accruals basis and has been classified under headings thal aggregate all costs related lo the category. where costs cannol be directly atlribuled top particular headings they have been allocated to activities on a basis consistent with use of the resources. Premises overheads have been allocated on a floor area basis and other overheads have been allocated on the basis of the head ¢ount. Fund raising costs are those incurred in seeking voluntary contributions and do not include Ihe 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 Headquarters. Management and administration costs are incurred in connection with adminislralion 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 al cost or valuation, nel of depreciation and any impairment losses. Depreciation is recognised so as lo write off the cost or valuation of assets less their rasidual values over their useful lives on the following bases.. FixtUTes and fittings 200/0 Reducing Balance The gain or loss arising on the disposal of an ass@l is determined as the difference bebNeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial aGtivities. 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 dale. Changes in fair value are recognised in net incomel{expenditure) for the year. Transaction cos15 are expensed as incurred. 1.7 Cash and Ga$h equlvalents Cash and cash equivalenls include cash in hand. deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.8 Flnancial instruments The charily has elected lo apply the provisions of Section 11 'Ba5ic Financial Instruments. and Section 12 'Other Financial Instruments Issues, of FRS 102 lo all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to th@ contractual provisions of the instrument. Financial assets and liabilities are offset, wilh Ihe net amounts presenled in the financial slalements. when there is a legally enforceable right to set off the re¢ogni5ed amounts and thère is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financlal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement constilutes a financing transaction, where the transaction is measured al Ihe present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 15-
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED chartered accountants NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting policiès (Continued) Basic financial liabilities Basic financial liabilities, including credilors and bank loans are initially recognised at transaction price unless the arrangement conslilules a financing Iransaclion, where the debt instrument is measured al the present value of the future payments discounted al a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried al amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or seNices that have been acquired in the ordinary course of operations from suppliers. Amounts payable ale classified as currenl liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade Greditors are recognised initially at transaction price and subsequently measured al amort15ed 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's service5 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 termination benefits. 1.10 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as Ihey fall due. Critical accounting estimates and judgements In the application of the charity's accounting policies, the Truslees are required lo make judgemenls, estimates and assumptions aboLJI the Garrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered lo be relevant. Aclual results may diffèr from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting estimates are recognised in the period in whiGh the estimale is revised where the revision affects only thal period, or in the period of Ihe revision and future periods where the revision affects both currenl and future periods. 16-
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED chortered occountonts NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacies Unrestricted Restricted funds funds 2024 2024 Total Unrestricted Restricted funds fund5 2023 2023 Total 2024 2023 Grants received 129,999 878,204 1,008.203 184,069 669.976 854,045 Grants receivable lor core activities DAERA National Heritage Lollery Causeway Coast and Glens Council Nl Tourism Board Binevenagh EU Project Income Other 323,659 41,720 323,659 41,720 288.102 226,120 288,102 275,770 49,650 51.098 9,750 51,098 9,750 414,969 79,104 87,903 62,000 28,250 25.087 87.087 28,250 414,969 79,104 18,752 43,879 86,788 43,879 130,957 69,151 44,169 129.999 878,204 1,008,203 184,069 669.976 854,045 Income from charitsble activities Unrestricted funds 2024 Unrestricted funds 2023 Tree sales Sale of goods 35,234 Income from Investments Unrestricted Unrestricted funds funds 2024 2023 Income from unlisted investments Interest receivable 2,732 23 2,719 2,755 2,726 17-
ids, CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED Chartered accountants NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Expenditure of restricted grant income 2024 2023 ENE Project BLPS NIEA Natural Heritage Grant Other projects 186,130 34,890 34,140 188,516 90,341 27,643 255,161 306,500 Share of support costs (see note 7) Share ofgovernance costs (see note 7} 583,041 4,788 563,632 4,714 842,990 874,846 Analysis by fund Unrestricted funds Restricted funds 205.740 637,250 198,921 675,925 842.990 874,846 Support costs allocated to activities 2024 2023 Staff costs Depreciation Motor & Travel Rates. Rent & Insurance Telephone Computer Costs Consultancy ProfiULoss on foreign exchange Repairs Printing, Postage & Stalionery Sundry Governance cosls 478,322 7,694 24,892 24,988 8,004 11,348 350 2,042 2,494 4,652 18,255 4,788 475.358 6,797 21,941 18,950 8,326 11,679 2,706 1,051 1,015 4,273 11,536 4,714 587,829 568,346 Analysed between: Charitable Activities 587,829 568,346 18-
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED ¢hqrtered accountant5 NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Net movement in funds 2024 2023 The net movement in funds is stated after chargingl(crediling)'. Fees payable for the audit of the charity's financial statements Deprecialion of owned tangible fixed assets 4,788 7,694 4,714 6,797 Trustees None of the Trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. 10 Employees The average monthly number of employees during the year was.. 2024 Number 2023 Number Direct charitable activities Adminstralion 14 13 Tolal 15 Employment costs 2024 2023 Wages and salaries Social security costs Other pension costs 409.697 38,644 29.981 409,646 39,974 25,738 478.322 475,358 There were no ernployees whose annual remuneration was £60,000 or more. 11 Gains and losses on investments Unrestricted Unrestricted lunds funds 2024 2023 Gainslllossesl arising on.. Revaluation of investments 6,450 (3,51n 12 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 19
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED chartered accountonts NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 13 Tangible fixed assets Flxturos and flttlngs Cost At 1 April 2023 Additions 124,576 11,285 At 31 March 2024 135,861 Depreciation and impairment At 1 April 2023 Depreciation charged in the year 97,389 7,694 At 31 March 2024 105,083 Carrying amount At 31 March 2024 30,778 At 31 March 2023 27,188 14 Fixed asset investments Listed investments Cost or valuation At 1 Apri 2023 Valuation changes 90,060 9,182 At 31 March 2024 99,242 Carrying amount Al 31 March 2024 99,242 At 31 March 2023 90,060 15 Debtors 2024 2023 Amounts falling due within one year: Prepayments and accrued income 73,665 133.626 -20-
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED chartered accountonts NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 16 Creditors: amounts falling due within one year 2024 2023 Corporation tax payable other taxation and social security other creditors Accruals and deferred income 14 9,516 1,267 8.735 6,879 1,616 9,069 17,568 19,532 17 Retirement benefit schemes 2024 2023 Defined contribution schemes Charge to profil or loss in respect of defined contribution schemes 29.981 25.738 The charity operales a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 18 Restricted funds The restricted fund5 of the charity comprise the unexpended balances of donations and grants held on Irusl subject lo specific conditions by donors as to how they may be used. At 1 April 2023 Incomlng resources Resources At 31 March expended 2024 783,432 878,204 (637,250) 1,024.386 Previous year: At 1 April 2022 Incoming resource5 Resources At 31 March expended 2023 789,381 669,976 (675,925) 783,432 19 Unrestricted funds The unreslricled funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and giantors as to how they may be used. These include designated funds which have been sel aside oul of unreslricled funds by the trustees for specific purposes. At 1 April 2023 Incoming resources Resources expended Gains and At 31 March losses 2024 General funds (500,241 } 167,988 (205,740) 6,450 {531,543) 21
ids. CAUSEWAY COAST AND GLENS HERITAGE TRUST LIMITED chartered accountunts NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 19 Unrestricted funds (Continued) Previous yèar.. At 1 April 2022 Incomlng resources Resources expended Gain$ and At 31 March losses 2023 General funds 1484,5981 186.795 (198,921) (3,5171 (500,241) 20 Analysis of net assets between funds Unrestricted funds 2024 Restrfcted funds 2024 Total 2024 At 31 March 2024: Tangible assets Investments Current assetsl(liabilitiesl 30,778 99,242 (661,5631 30.778 99,242 362,823 1,024,386 (531,5431 1,024,386 492,843 Unrestricted funds 2023 Restricted funds 2023 Total 2023 At 31 March 2023: Tangible assels Inveslments Current assetsl(liabilities) 27,188 90,060 1617,4891 27,188 90,060 165,943 783,432 1500,2411 783,432 283,191 -22-