COMPANY REGISTRATION NUMBER: NI608901 CHARITY REGISTRATION NUMBER: 106797
Aonach Mhacha
Company Limited by Guarantee Unaudited Financial Statements 31 May 2023
BUSINESS ACCOUNTS SERVICES
Chartered accountants 11 Abbey Street Armagh BT61 7DX
Aonach Mhacha
Company Limited by Guarantee
Financial Statements
Period from 1 April 2022 to 31 May 2023
| Page | |
|---|---|
| Trustees' annual report (incorporating the director's report) | 1 |
| Statement of financial activities (including income and | |
| expenditure account) | 6 |
| Statement of financial position | 7 |
| Notes to the financial statements | 8 |
| The following pages do not form part of the financial statements | |
| Detailed statement of financial activities | 19 |
| Notes to the detailed statement of financial activities | 21 |
Aonach Mhacha
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report)
Period from 1 April 2022 to 31 May 2023
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the period ended 31 May 2023.
Reference and administrative details
| Registered charity name | Aonach Mhacha |
|---|---|
| Charity registration number | 106797 |
| Company registration number | NI608901 |
| Principal office and registered | 74-76 Sraid Na Ngall |
| office | Ard Mhacha |
| Ard Mhacha | |
| BT61 7LG | |
| N Ireland | |
| The trustees | |
| Mr AP Brecknell | |
| Ms Harte | |
| Ms Ní Phronntaigh | |
| Mr Smyth | |
| Mr Ó Duibh | |
| Mr Ó Cíaraín | |
| Mr Mac Eochaidh | |
| Company secretary | Gearoid O Machail |
| Accountants | Business Accounts Services |
| Chartered accountants | |
| 11 Abbey Street | |
| Armagh | |
| BT61 7DX |
1
Aonach Mhacha
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Period from 1 April 2022 to 31 May 2023
Structure, governance and management
Aonach Mhacha is incorporated under the Companies Act 2006 as a private company limited by guarantee with its registered office in Northern Ireland. Aonach Mhacha is a social enterprise based in the local community and is registered as a charity.
All profits generated by the trading activities of Aonach Mhacha are reinvested in the Aonach Mhacha building and in cultural, social, arts, educational, training and recreation projects for the Armagh area.
Aonach Mhacha is governed by a management board of volunteer directors; the directors are elected annually at the AGM. The management board meets on a monthly basis.
The Board is responsible for setting the strategic direction of the organisation and is accountable for ensuring that the financial resources and assets of the organisation are properly used and managed to meet the aims and objectives of the organisation. To this end, the board is responsible for meeting all of the legal requirements of the social enterprise as prescribed by the relevant legislation, attending to all statutory obligations as employers, health & safety, child protection, volunteer policies and ensuring the on-going financial stability and sustainability of the enterprise.
No Director may:
A) Buy any goods or services from the Company;
B) Sell goods, services, or any interest in land to the Company;
C) Be employed by, or receive any remuneration from the Company;
D) Receive any other financial benefit from the Company;
E) Directors can, however, claim legitimate expenses.
As a community based social enterprise, Aonach Mhacha is fully inclusive of all sections of the community it serves regardless of their religious beliefs, political opinions, racial background, age, marital status, sexual orientation, gender, disability or responsibility for dependants. Aonach Mhacha will comply at all times with the provisions of Section 75 of Northern Ireland Act 1998. Aonach Mhacha has an Equal Opportunities Policy, a copy of which is available.
2
Aonach Mhacha
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Period from 1 April 2022 to 31 May 2023
Objectives and activities
The Charity"s objects (“Objects”) are specifically restricted to the following:-
The advancement of education, the promotion of traditional arts, heritage and Irish culture among Irish speaking people and the general public in Armagh and its environs (the “area of benefit”) and the promotion of community development and in particular to:
(a) develop an awareness of and encourage appreciation of Irish culture through the promotion of the Irish language, music, drama, poetry, literature visual arts, sport and history;
(b) raise awareness, educate and encourage participation in the study and celebration of local heritage, oral history, customs and pastimes of Armagh and the surrounding areas;
(c) encourage participation in traditional arts and Irish cultural activities through the provision of workshops, classes, entertainment and other participatory activities;
(d) provide facilities and support to traditional arts, cultural and community groups and organisations;
(e) promote training and employment opportunities, particularly in the arts and in Irish cultural organisations;
(f) maintain and manage a cultural centre for activities promoted by the Charity in furtherance of its Objects.
3
Aonach Mhacha
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Period from 1 April 2022 to 31 May 2023
Achievements and performance
Since June 2011, the Board of Aonach Mhacha has been undergoing social enterprise training in Newry and Mourne Enterprise Centre as part of the Lead In Capability Support Programme funded by Invest NI in order to develop and consolidate skills and experience and ensure the viability and governance of the project. This training is continuing.
Aonach Mhacha’s management board has received training in good governance from Invest NI and NICVA. Key staff will also receive this training. The organisation will strive to achieve accredited quality standards, such as Investors in People and ISO 9000.
Aonach Mhacha manages the building in a sustainable way and develops additional income streams in order that the building will be more self-sufficient.
Our organisation is keen to soften the image and perception of the language and to broaden its appeal across community boundaries.
Aonach Mhacha’s medium to long-term aims include developing new leaders for the social enterprise sector, expanding the range of activities in the building and developing projects with other organisations in neighbouring council areas and along the border region.
The scale and range of events, services and activities delivered in the Cultúrlann in 2022 was breathtaking. The agreed plan to work around an events calendar of the four quarter festivals quickly fell asunder as enthusiasm overcame practicality.
There were many high points in our 2022 events programme including An Lá Dearg i mBéal Feirste which finally brought us the long awaited Irish Language legislation. Although it falls far short of what is urgently required, it showed the value of the Irish language community coming together as one and making active demands en masse from Stormont, Westminster and Dublin.
Among the other many highlights were Clár Sheachtain na Gaeilge, Campa Mhacha, Camino Mhacha, the concert programme headlined by the Máirtín Ó Connor Trio and Clann Mhic Ruairí provided us with two special nights to remember. Manchán Magan was another personal favourite. Buíochas le Clann Mhic Gabhann as a gceolchoirm féin aéagrú sa Chultúrlann. Those nights and a number of others really showed what potential the venue has to attract new audiences going forward.
Staying on the subject of ceol, the recent series of weekend sessions have demonstrated the potential of Aonach Mhacha to become a hub of artistic collaboration and community development. A cultúrlann packed at the weekends with good music, happy families, pensioners, laughing children and fledgling gaeilgeoirí, not to mention a calendar year full of Irish classes, dancing lessons, trad sessions, exhibitions, talks, launches, photoshoots, school visits, conferences, training and development courses, - all reminds us why we put so many years of unpaid effort and voluntary endeavour into creating this wonderful space.
Aonach Mhacha remained in a relatively good place financially in 2023.
The organisation is debt free and is currently meeting day to day costs. Our reserve funds are currently £60k.
Funding from Foras na Gaeilge via the Ciste Tionscadal was successfully applied for in 2022
4
Aonach Mhacha
Company Limited by Guarantee
Trustees' Annual Report (Incorporating the Director's Report) (continued)
Period from 1 April 2022 to 31 May 2023
and will assist with running costs and limited project funding in 2023. New funded staff have been recruited to coordinate arts and events output and to develop new enterprise models. In other words, the key components of successful future development are all in place.
We must develop and implement a successful fundraising strategy and continue to build on the successful Camino Mhacha in August and the aborted ‘Buy a Brick’ Campaign which will resume in Spring of 2023. The latter has huge potential and will allow individuals, families, organisations and businesses to make a physical investment and stake in the future development of the Cultúrlann.
The successful Dormant Accounts application is a major boost to our plans to develop additional revenue streams, look at income diversification, build financial resilience and achieve long term sustainability for Aonach Mhacha.
In the period ended 31/05/2023 the Charity received Grants that were restricted in expenditure of 130523 and the spend was 108586 with a surplus still to be spent of 21937.
In the period ended 31/05/2023 the Charity received Unrestricted income of 179796 between Grants and other sources of income with expenditure of 125843 with a surplus of 53951.
Overall the Charity has a net surplus of 75888 for the period 1st April 2022 to 31st May 2023 to help continue the operations for future years.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
The trustees' annual report was approved on 6 June 2024 and signed on behalf of the board of trustees by:
Micheál Ó Duibh Cathaoirleach
Gearóid O Machail Charity Secretary
5
Aonach Mhacha
Company Limited by Guarantee
Statement of Financial Activities (including income and expenditure account)
Period from 1 April 2022 to 31 May 2023
| Year to | |||||
|---|---|---|---|---|---|
| Period from 1 Apr 22 to | 31 May 23 | 31 Mar 22 | |||
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 130,216 | 130,523 | 260,739 | 86,848 |
| Charitable activities | 6 | 49,399 | – | 49,399 | 43,447 |
| Investment income | 7 | 181 | – | 181 | 26 |
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| Total income | 179,796 | 130,523 | 310,319 | 130,321 | |
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| Expenditure | |||||
| Expenditure on raising funds: | |||||
| Costs of raising donations and | |||||
| legacies | 8 | 125,845 | 108,586 | 234,431 | 141,665 |
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| Total expenditure | 125,845 | 108,586 | 234,431 | 141,665 | |
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| Net income/(expenditure) and net | |||||
| movement in funds | 53,951 | 21,937 | 75,888 | (11,344) | |
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| Reconciliation of funds | |||||
| Total funds brought forward | 2,106,534 | – | 2,106,534 | 2,117,878 | |
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| Total funds carried forward | 2,160,485 | 21,937 | 2,182,422 | 2,106,534 | |
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The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 8 to 17 form part of these financial statements.
6
Aonach Mhacha
Company Limited by Guarantee
Statement of Financial Position
31 May 2023
| 31 May 23 | 31 Mar 22 | ||
|---|---|---|---|
| Note | £ | £ | |
| Fixed assets | |||
| Tangible fixed assets | 12 | 2,105,461 | 2,075,256 |
| Current assets | |||
| Debtors | 13 | 1,963 | 1,523 |
| Cash at bank and in hand | 79,651 | 85,685 | |
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| 81,614 | 87,208 | ||
| Creditors: amounts falling due within one year | 14 | 4,653 | 55,930 |
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| Net current assets | 76,961 | 31,278 | |
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||
| Total assets less current liabilities | 2,182,422 | 2,106,534 | |
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||
| Net assets | 2,182,422 | 2,106,534 | |
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| Funds of the charity | |||
| Restricted funds | 21,937 | – | |
| Unrestricted funds | 2,160,485 | 2,106,534 | |
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| Total charity funds | 17 | 2,182,422════════════ |
2,106,534════════════ |
For the period ending 31 May 2023 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
-
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on 6 Jun 24, and are signed on behalf of the board by:
Micheál Ó Duibh Cathaoirleach
Gearóid O Machail Charity Secretary
The notes on pages 8 to 17 form part of these financial statements.
7
Aonach Mhacha
Company Limited by Guarantee
Notes to the Financial Statements
Period from 1 April 2022 to 31 May 2023
1. General information
The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 74-76 Sraid Na Ngall, Ard Mhacha, Ard Mhacha, BT61 7LG, N Ireland.
2. Statement of compliance
These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.
8
Aonach Mhacha
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 April 2022 to 31 May 2023
3. Accounting policies (continued)
Incoming resources
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
-
income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
-
legacy income is recognised when receipt is probable and entitlement is established.
-
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
-
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
-
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
9
Aonach Mhacha
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 April 2022 to 31 May 2023
3. Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.
For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the charity will comply with the conditions attaching to them and the grants will be received.
Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
10
Aonach Mhacha
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 April 2022 to 31 May 2023
3. Accounting policies (continued)
Financial instruments (continued)
Debt instruments are subsequently measured at amortised cost.
Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises.
4. Limited by guarantee
11
Aonach Mhacha
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 April 2022 to 31 May 2023
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Fundraising | 7,477 | – | 7,477 |
| Buy a Brick Fundraising | – | – | – |
| Donations | 6,630 | – | 6,630 |
| Grants | |||
| Grants Todchai Glas | – | 10,000 | 10,000 |
| Grants Future Screens | – | 21,919 | 21,919 |
| Grants An Scéim d'ionaid Phobail Ghaeilge | – | 32,250 | 32,250 |
| Grants Dormant Accounts | – | 40,787 | 40,787 |
| Grants FNG Sceim na bhfeilte | – | 2,300 | 2,300 |
| Grants FNG Club Club na Deagoiri Ard Mhacha | – | 1,765 | 1,765 |
| Grants FNG Oige | – | 875 | 875 |
| Grants Foras na Gaeilge SPG | – | 20,627 | 20,627 |
| Grants Glor na Gael covid | 96,616 | – | 96,616 |
| Grants celtic junction | 1,341 | – | 1,341 |
| Grants Culture Ireland | 3,352 | – | 3,352 |
| DOF RATES GRANT | 10,000 | – | 10,000 |
| ABC Grants | – | – | – |
| Apprenticeship Grants | – | – | – |
| Colmcille Agus Cíos Grants | – | – | – |
| DFC _ Capital Grant | – | – | – |
| FNG Capital Grant | – | – | – |
| Newry & Mourne Grant | – | – | – |
| Arts Council Grants | – | – | – |
| CNAG Teoranta | – | – | – |
| Halifax Grant | 4,800 | – | 4,800 |
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| 130,216 | 130,523 | 260,739 | |
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| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Donations | |||
| Fundraising | 17,987 | – | 17,987 |
| Buy a Brick Fundraising | 300 | – | 300 |
| Donations | – | – | – |
12
Aonach Mhacha
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 April 2022 to 31 May 2023
5. Donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |||
|---|---|---|---|---|---|
| Funds | Funds | 2022 | |||
| £ | £ | £ | |||
| Grants | |||||
| Grants Todchai Glas | – | – | – | ||
| Grants Future Screens | – | – | – | ||
| Grants An Scéim d'ionaid Phobail Ghaeilge | – | – | – | ||
| Grants Dormant Accounts | – | – | – | ||
| Grants FNG Sceim na bhfeilte | – | – | – | ||
| Grants FNG Club Club na Deagoiri Ard Mhacha | – | – | – | ||
| Grants FNG Oige | – | – | – | ||
| Grants Foras na Gaeilge SPG | – | – | – | ||
| Grants Glor na Gael covid | – | – | – | ||
| Grants celtic junction | – | – | – | ||
| Grants Culture Ireland | – | – | – | ||
| DOF RATES GRANT | – | – | – | ||
| ABC Grants | 7,228 | – | 7,228 | ||
| Apprenticeship Grants | 3,754 | – | 3,754 | ||
| Colmcille Agus Cíos Grants | 1,550 | – | 1,550 | ||
| DFC _ Capital Grant | 24,895 | – | 24,895 | ||
| FNG Capital Grant | 20,500 | – | 20,500 | ||
| Newry & Mourne Grant | 2,000 | – | 2,000 | ||
| Arts Council Grants | 7,709 | – | 7,709 | ||
| CNAG Teoranta | 925 | – | 925 | ||
| Halifax Grant | – | – | – | ||
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| 86,848 | – | 86,848 | |||
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| 6. | Charitable activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Room Hire | 49,399 | 49,399 | 43,447 | 43,447 | |
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| 7. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2023 | Funds | 2022 | ||
| £ | £ | £ | £ | ||
| Bank interest receivable | 181 | 181 | 26 | 26 | |
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| 8. | Costs of raising donations and legacies | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| COSTS | 125,845 | 108,586 | 234,431 | ||
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13
Aonach Mhacha
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 April 2022 to 31 May 2023
8. Costs of raising donations and legacies (continued)
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| COSTS | 141,665 | – | 141,665 |
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9. Analysis of grants
The following Grants were received by the Charity in the period 1st April 2022 to 31st May 2023
(i) Glór na Gael Covid Recovery Grant
To reimburse Aonach Mhacha for expenditure incurred and revenue losses during the Covid pandemic restrictions.
(ii) Dept for Finance Small Business Grant
To assist small businesses and help them survive covid trading restrictions
(iii) Dept for Foreign Affairs Grant
To assist with the costs of the Camino Mhacha event
(iv) Foras na Gaeilge Scéim D'Ionad Phobail Gaeilge
Scheme to assist with overhead and running costs incurred by Cultúrlanna
(v) Dormant Accounts NI
To employ a Centre Manager and build an online learning platform
(vi) Foras na Gaeilge Todhchaí Glas
Small Grant Scheme to fund 'green and environmental projects'
(vii) Foras na Gaeilge Scéim na nImeachtaí Óige
Small Grant Scheme to assist with the delivery of activities for young people
(viii) Foras na Gaeilge Scéim Phobail Gaeilge
Recurring grant to employ an Irish Language Development Officer
(ix) NI Future Screens Grant
To cover the salary of an entry level Arts Development Officer
10. Staff costs
The average head count of employees during the period was 6 (2022: 6).
No employee received employee benefits of more than £60,000 during the year (2022: Nil).
11. Trustee remuneration and expenses
No Trustee received any payments in the year.
14
Aonach Mhacha
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 April 2022 to 31 May 2023
12. Tangible fixed assets
| Freehold | |||
|---|---|---|---|
| property | Equipment | Total | |
| £ | £ | £ | |
| Cost | |||
| At 1 April 2022 | 2,016,494 | 58,762 | 2,075,256 |
| Additions | 30,205 | – | 30,205 |
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| At 31 May 2023 | 2,046,699 | 58,762 | 2,105,461 |
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| Carrying amount | |||
| At 31 May 2023 | 2,046,699 | 58,762 | 2,105,461 |
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| At 31 March 2022 | 2,016,494 | 58,762 | 2,075,256 |
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|
| Debtors | |||
| 31 May 23 | 31 Mar 22 | ||
| £ | £ | ||
| Trade debtors | 1,963 | 1,523 | |
═══════ |
═══════ |
||
| Creditors: amounts falling due within one year | |||
| 31 May 23 | 31 Mar 22 | ||
| £ | £ | ||
| Bank loans and overdrafts | – | 44,236 | |
| Trade creditors | 2,112 | 10,919 | |
| Accruals and deferred income | 840 | 720 | |
| Social security and other taxes | 1,701 | 55 | |
─────── |
──────── |
||
| 4,653 | 55,930 | ||
═══════ |
════════ |
13. Debtors
14. Creditors: amounts falling due within one year
15. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £1,134 (2022: £222).
16. Government grants
The amounts recognised in the financial statements for government grants are as follows:
| 31 May 23 | 31 Mar 22 | |
|---|---|---|
| £ | £ | |
| Recognised in income from donations and legacies: | ||
| Government grants income | –════ |
925════ |
15
Aonach Mhacha
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 April 2022 to 31 May 2023
17. Analysis of charitable funds
Unrestricted funds
| Unrestricted funds | ||||
|---|---|---|---|---|
| At | At | |||
| 1 April 2022 | Income | Expenditure | 31 May 2023 | |
| £ | £ | £ | £ | |
| General funds | 1,418,520 | – | 30,204 | 1,448,724 |
| Capital Contribution Reserve Account | 688,014 | 179,796 | (156,049) | 711,761 |
──────────── |
───────── |
───────── |
──────────── |
|
| 2,106,534 | 179,796 | (125,845) | 2,160,485 | |
════════════ |
═════════ |
═════════ |
════════════ |
|
| At | ||||
| At | 31 March 202 | |||
| 1 April 2021 | Income | Expenditure | 2 | |
| £ | £ | £ | £ | |
| General funds | 1,429,864 | 130,321 | (141,665) | 1,418,520 |
| Capital Contribution Reserve Account | 688,014 | – | – | 688,014 |
──────────── |
───────── |
───────── |
──────────── |
|
| 2,117,878 | 130,321 | (141,665) | 2,106,534 | |
════════════ |
═════════ |
═════════ |
════════════ |
|
| Restricted funds | ||||
| At | At | |||
| 1 April 2022 | Income | Expenditure | 31 May 2023 | |
| £ | £ | £ | £ | |
| Restricted Fund 2 - desc in a/cs | – | 130,523 | (108,586) | 21,937 |
════ |
═════════ |
═════════ |
════════ |
|
| At | ||||
| At | 31 March 202 | |||
| 1 April 2021 | Income | Expenditure | 2 | |
| £ | £ | £ | £ | |
| Restricted Fund 2 - desc in a/cs | – | – | – | – |
════ |
════ |
════ |
════ |
16
Aonach Mhacha
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Period from 1 April 2022 to 31 May 2023
18. Analysis of net assets between funds
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Tangible fixed assets | 2,105,461 | – | 2,105,461 |
| Current assets | 70,054 | 11,560 | 81,614 |
| Creditors less than 1 year | (4,652) | – | (4,652) |
──────────── |
──────── |
──────────── |
|
| Net assets | 2,170,863 | 11,560 | 2,182,423 |
════════════ |
════════ |
════════════ |
|
| Unrestricted | Restricted | Total Funds | |
| Funds | Funds | 2022 | |
| £ | £ | £ | |
| Tangible fixed assets | 2,075,256 | – | 2,075,256 |
| Current assets | 87,207 | – | 87,207 |
| Creditors less than 1 year | (55,930) | – | (55,930) |
──────────── |
──── |
──────────── |
|
| Net assets | 2,106,533 | – | 2,106,533 |
════════════ |
════ |
════════════ |
19. Spare other note 1
17
Aonach Mhacha
Company Limited by Guarantee
Management Information
Period from 1 April 2022 to 31 May 2023
The following pages do not form part of the financial statements.
18
Aonach Mhacha
Company Limited by Guarantee
Detailed Statement of Financial Activities
Period from 1 April 2022 to 31 May 2023
| Period from | ||
|---|---|---|
| 1 Apr 22 to | Year to | |
| 31 May 23 | 31 Mar 22 | |
| £ | £ | |
| Income and endowments | ||
| Donations and legacies | ||
| Fundraising | 7,477 | 17,987 |
| Buy a Brick Fundraising | – | 300 |
| Donations | 6,630 | – |
| Grants Todchai Glas | 10,000 | – |
| Grants Future Screens | 21,919 | – |
| Grants An Scéim d'ionaid Phobail Ghaeilge | 32,250 | – |
| Grants Dormant Accounts | 40,787 | – |
| Grants FNG Sceim na bhfeilte | 2,300 | – |
| Grants FNG Club Club na Deagoiri Ard Mhacha | 1,765 | – |
| Grants FNG Oige | 875 | – |
| Grants Foras na Gaeilge SPG | 20,627 | – |
| Grants Glor na Gael covid | 96,616 | – |
| Grants celtic junction | 1,341 | – |
| Grants Culture Ireland | 3,352 | – |
| DOF RATES GRANT | 10,000 | – |
| ABC Grants | – | 7,228 |
| Apprenticeship Grants | – | 3,754 |
| Colmcille Agus Cíos Grants | – | 1,550 |
| DFC _ Capital Grant | – | 24,895 |
| FNG Capital Grant | – | 20,500 |
| Newry & Mourne Grant | – | 2,000 |
| Arts Council Grants | – | 7,709 |
| CNAG Teoranta | – | 925 |
| Halifax Grant | 4,800 | – |
───────── |
──────── |
|
| 260,739 | 86,848 | |
───────── |
──────── |
|
| Charitable activities | ||
| Room Hire | 49,399 | 43,447 |
──────── |
──────── |
|
| Investment income | ||
| Bank interest receivable | 181 | 26 |
──── |
──── |
|
───────── |
───────── |
|
| Total income | 310,319 | 130,321 |
═════════ |
═════════ |
19
Aonach Mhacha
Company Limited by Guarantee
Detailed Statement of Financial Activities (continued)
Period from 1 April 2022 to 31 May 2023
| Period from | ||
|---|---|---|
| 1 Apr 22 to | Year to | |
| 31 May 23 | 31 Mar 22 | |
| £ | £ | |
| Expenditure | ||
| Costs of raising donations and legacies | ||
───────── |
───────── |
|
| 234,431 | 141,665 | |
───────── |
───────── |
|
───────── |
───────── |
|
| Total expenditure | 234,431 | 141,665 |
═════════ |
═════════ |
|
───────── |
───────── |
|
| Net income/(expenditure) | 75,888 | (11,344) |
═════════ |
═════════ |
20
Aonach Mhacha
Company Limited by Guarantee
Notes to the Detailed Statement of Financial Activities
Period from 1 April 2022 to 31 May 2023
| Period from | ||
|---|---|---|
| 1 Apr 22 to | Year to | |
| 31 May 23 | 31 Mar 22 | |
| £ | £ | |
| Costs of raising donations and legacies | ||
| Running Costs | ||
| Wages and salaries | 76,295 | 18,046 |
| Pension costs | 1,134 | 222 |
| Bank Charges | 222 | 206 |
| Bank Interest Paid | 396 | 890 |
| Venue Hire | 8,739 | 170 |
| Catering | 8,905 | 693 |
| Staff Training | 1,374 | 1,020 |
| Artist/Performer fees | 14,012 | 350 |
| Event Costs | 1,975 | 7,451 |
| Rates | 5,433 | 6,986 |
| Insurance | 5,240 | 4,822 |
| Light & Heat | 33,890 | 9,269 |
| Cleaning | 3,501 | 1,603 |
| Repairs & Maintenance | 7,701 | 17,105 |
| Printing Postage & Stationery | 30,408 | 1,149 |
| Marketing | 19,521 | 18,368 |
| Telephone | 5,188 | 2,052 |
| Travel | 1,076 | 380 |
| Legal & Professional Fees | 6,105 | 29,214 |
| Consultancy Fees | 250 | 18,000 |
| Accountancy Fees | 1,842 | 2,952 |
| Volunteer Expenses | 1,224 | 718 |
| General Expenses | – | (1) |
───────── |
───────── |
|
| 234,431 | 141,665 | |
───────── |
───────── |
|
───────── |
───────── |
|
| Costs of raising donations and legacies | 234,431═════════ |
141,665═════════ |
21