Company Reglstratlon Numbèr . N1636756 Frlands ol the Derry Walls Ltd Flnanclal Statements and Trust••s' Report for the year ended 29 February 2024
Frlends of the Derry Walls Ltd Company Ilmlted by guarantee Contents Page Legal and Administrative Information Trustees Report Independent Examiner's Report Statement of Financial Activities for the year ended 29 February 2024 8alance Sheet as al 29 February 2024 Notes to the Accounts 9-12
Frlends of the Derry Walls Ltd Company Ilmlted by guarantee Legal and Admlnlstratlv• Infomatlon Status . The organisation is a charitable company limited by guarantee, incorporated on 29 February 2016 and is recognised as a charity by the Northern Ireland Charity Commission. The governing document is a Memorandum and Articles of Association. Dlrectorn . Edel Griffin Elizabeth Hegarty Anne Mccartney Niall Mccaughan William Moore Accountant$ . Fergus McAteer & Co Chartered Accountants 31133 Clarendon Street Derry BT48 7ER Maln Bank•rn . Danske Bank Business Branch Don8gal Square West Belfast Reglster•d Offlce . Verbal Arts Centre Stable Lane Derry BT48 6PU Company Number . N1636756 Charlty Commls8lon for Northem Ireland Number: NIC 106809 Page 1
Frlends of the Derry Walls Ltd Trustees. Annual Report for the year ended 29 February 2024 Report of the trustees for the year ended 29 February 2024 The directors are pleased to present their annual report together with the financial statements of the Charity for the year ended 29 February 2024 which are also prepared to meet the requirements for a Directors, port and accounts for Companies Act purposes. The financial statements comply with the Charities Act (Nl) 2008, the Charities (Accounts and Reports) Regulations (Nl) 2015, Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 (effective 1 January 2019.) Dlrectors and trustae• The directors of the charitable company (the charity) are the trustees for the purposes of charity law. The trustees during the year and at 29 February 2024 were as follows: Edel Griffin Elizabeth Hegarty Anne Mccartney Niall Mccaughan William Moore Our purposes and actlvltles The companys objects are specifically restricted to the following.. (a) to educate the public in the history, natural history and architecture of the area of benefit: {b) to secure the preservation, protection and irnprovement of features of historic public interest in the area of benefit in particular the historic defences and city walls of DerrylLondonderry', Achlevem6nts and perforniance Since the charitys registration in 2017 we have worked to promote Ioc81 awareness of the significance of the Dery Walls through the production of educational and interpretive materials and literature, and by arranging and organising educational and training events and programmes about the heritage and conseNation of the Dery W811s. Flnanclal revlew During the year incorne of £100 was received {28 February 2023 £200) and costs of £630 were incurred 128 February 2023 £20) to leave a net defiGIt of £530128 February 2023 inGome £180). The reserves at the end of the year were £2,041 (28 February 2023 £2,571) of which 811 are unrestricted. The Trustees were pleased with the results for the year. Page 2
Frlends of the Derry Walls Ltd Trustees. Annual Report for the year ended 29 February 2024 Reserves pollcy and golng conc•rn Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency costs. Due to the nature of Charity, no activities are started or costs incurred until funds are secured from members. The Trustees consider that only nominal reserves are necessary to meet future costs. Plans for future perlods We continue to organlse and carry out a serles of educalional and promotional events to continue to educate the public and to help secure the preservation, protection and improvement of the area of benefit, being the Derry Walls. Statement of tru8tee8 respon*lbllltle8 The charity trustees (who are also the directors of the Friends of the Derry Walls Ltd for the purposes of company law) are responsible for preparing a trustees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the profit or loss of the company for that year. In preparing these the trustees are required to,. select suitable accounting policies and apply them consistently; make judgements that are reasonable and prudent., observe the methods and principles in the Charities SORP., state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concem basis unless it is inappropriate to presume that the organisation will continue in business. The directors ar8 responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them lo ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Small company provlslon8 This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. These financial statements were approved and authorised for issue on 27 February 2025 and signed on behalf of the board by: Mccaughan Trustee Page 3
Frlends of the Dery Walls Ltd Company Ilmlted by guarantee Report to the board of dlrectors on thè preparatlon of the unaudlted statutory flnancial statements of Friends of the Derry Walls Ltd Year ended 29 February 2024 We report solely to the charity trustees on our examination of the accounts for the period ended 29 February 2024. To the fullesl extent permitted by law, we do not accept or assume responsibility to anyone other than Friends of the Derry Walls Ltd and its trustees as a body for our work or for this report. As a practising member firm of Chartered Accountants Ireland. we are subject to its ethical and other professional requirements vthich are detailed al vAwi.charteredaccountants.ie. Respectlve responslbllltles of charfty trustees and examlner As the charity trustees (and also the directors of the company for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 and the Charities Act (Northern Ireland) 2008. Having satisfied ourselves that the charity is not subj8Ct to an audit under company18w, and is eligible for independent examination, it is our responsibility to: examine the accounts under section 65 of the Charlties Act. follow the procedures laid down in general Directions given by the Charity Commission for Northern Ireland under section 6519)(b) of the Charities Act. state whether particular matters have come to our attention. Ba•ls of Independent •xamlnerf8 r•port We have examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65191(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees conceming any such matters, Our role is to state whether any material matters have come to our attention giving us concern to believe.. 1. that accounting records were not kept as required by section 386 of the Companies Act 2006 and section 63 of the Charities Act., 2. that the accounts do not accord with those accounting records., 3. that the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006, the Charities Act and with methods and principles of the Charities Statement of Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic Of Ireland. 4. that there Is further informatlon needed for a proper understanding of the accounts to be reached. Page 4
Frlends of the Derry Walls Ltd Company Ilmlted by guarantee Report to the board of dlrectors on the preparatlon of the unaudlted statutory flnanclal statements of Frlends of the Derry Walls Ltd (contlnued) Year ended 29 February 2024 Independent Examlnerfs Statement We have completed our examination and have no con¢ems in respect of the matters (1) to {4) above and. in connection with following the Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Fergus kicAte•r & Co Chartered Accountants 31133 Clarendon Street Derry BT48 7ER CHARTERED 2 7 FEB 2025 27 February 2025 Page 5
Frfends of the Derry Walls Ltd Company Ilmlted by guarantea Statement of Flnanclal Actlvltles (Includlng Income and expendlture account) for the year ended 29 February 2024 Unrestrlcted Restrlcted Funds Funds Totals 2024 Totals 2023 Notes Incomo and endowments Donations & legacies 100 100 200 Total Income 100 100 200 Expendlture Charitsble activities 630 630 20 Total expendlture 630 Net Incom• (530) (530) 180 Net movement In funds (530) (530) 180 R•conclllatlon of lund8 Total funds brought forward at 1 March 2023 2,571 2,571 2,391 Total funds carried fopward at 29 February 2024 2,041 2,041 2,571 The statement of financial activities includes all gains and losses recognised in the year, All income and expenditure derive from continuing activities Page 6
Frlends of the Derry Walls Ltd Company Ilmlted by guarantee Balance Sheet as at 29 February 2024 Unrestrlcted Restrlcted Fund8 Funds Totals 2024 Totals 2023 Notes urrent Assets Cash at bank and in hand Total current assets 2.641 2,641 2,641 2,641 2,571 2,571 Credltors: amounts falllng due wlthln one year {600) (600) N•t current a88ets 2.041 2,041 2.571 Total assets less current Ilabllltla8 2,041 2,041 2,571 Credltorn: amounts falllng due N•t assets 2,041 2,041 2,571 The Fun S of the Charl Restricted funds Unrestricted funds 2,041 2,041 2,571 Funds 10 2,041 2,041 2,571 For the year ending 29 February 2024 the company 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 year in question in accordance with section 476; The directors acknowledge their responsibilities for cornplying with the requirements of the Act with respect to accounting records and the preparation of financial statements. These financial 8tstement8 have been prepared in aGGord8nGe with the provisions applicable to Gompanies subject to Ihe small companies, regime and in accordance with FRS 102 'The Financial Reporti'ng Standard applicable in the UK and Republic of Ireland,. Page 7
Frlends of the Derry Walls Ltd Company Ilmlted by guarantee These financial statements were approved by the board of directors and authorised for issue on 27 February 2025, and are signed on behalf of the board by., al stee an Company Reglstratlon Number .' N1636756 Page 8
Frlends of the Derry Walls Ltd Company Ilmlted by guarantee Notes to the flnanclal statements Year ended 29 February 2024 General Inforniatlon The company is apublic benefit entlty and a private company limited by guarantee, registered in Northern Ireland. The address of the registered office is Verbal Arts Centre, Stable Lane, Derry, BT48 6PU. Accountlng pollcles 8a818 of preparatlon The financial statements have been prepared in accordance with 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 102) (effective 1 January 2019) (Charities SORP (FRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102} and the Companies Act 2006. Friends of the Derry Walls Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notels). The financial statements are prepared in sterling, which is the functional currency of the entity. Golng concem There are no material uncertainties about the charitys ability to continue. Income Income represents the total value of donations received and receivable during the year, Expendlture 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 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. 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. Taxatlon During the current year the company has only been involved In chsriiable actlvltlès In turtherance ol Its charitable objects and is not liable to Incorne Tax or Corporation Tax. Page 9
Frlends of the Derry Walls Ltd Company Ilmlted by guarantee Notes to the flnanclal statements (contlnued) Year ended 29 February 2024 Flnanclal Instruments A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transadion price. unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future paentS discounted at a rnarket rate of interest for a similar debt instrument. Llmlted by guarantee Friends of the Dery Walls Ltd is a registered charity limited by guarantee without a share capital. Charity Commission of Nl Number.. NIC 106809 Funds Unrestricted Revenue Funds- comprise those revenue funds which the trustees are free to use in accordance with the company objectives. Restricted Revenue Funds - comprise those revenue funds which have been given for particular purposes and projects. 5. Income Unrestrlcted Restrlcted Funds Funds Total 2024 Total 2023 Donatlons and legacles Donations 100 100 200 Total 100 100 200 6. Expendlture Unwrestslcted Funds Restrlcted Funds Total 2024 Total 2023 Expendlture on charftable actlvltles Independent examiners fees Bank char9e8 600 30 630 600 30 630 20 20 Page 10
Frlends of the Derry Walls Ltd Company Ilmlted by guarantee Notes to the flnanclal statements (contlnued) Year ended 29 February 2024 Independent examlners remuneratlon 2024 2023 F•08 payable to Fees payable for the independent examlnation of the financial statements 600 Employ•• number¥ The average number of persons employed by the company during the year amounted to Nil12023: Nil). There were no persons employed by the charity during the period, No remuneration was paid and no expenses were reimbursed to the trustees during the period. The trustees are the key management personnel of the entity. Credltors: amounts falllng due wlthln one yoar 2024 2023 Accruals 600 Page 11
Frfends of the Derry Walls Ltd Company Ilmlted by guarantee Notes to the flnanclal statements (contlnued) Year ended 29 February 2024 10. Analysls of charltable funds Analys1$ of movements In unrestrlcted funds Balance at IncomlngResource8 Funds at 1st Mar .23 Resources Expended Transfers 29th Feb '24 General Fund 2,571 100 (630) 2.041 2,571 100 (630) 2,041 Name of restrtcted fund General Fund Descrlptlon of the Fund Funds which the Trust is able to apply freely in pursuit of its own charitable objectives and related purposes. Analysls of movements In restrlcted funds Balance at IncomlngResources Funds at 1st Mar'23 Resources Expended Transfers 29th Feb .24 Restricted Fund Name of restrlcted fund Restncted Fund Descrlptlon of the Fund Funds which the Trust applies for particular purposes and projects in pursuit of its charitsble objectives Analysls of net assets between funds Generdl Restrlcted Fund Fund 2,641 Total 2,641 Cash at bank and in hand Other current assets Current liabilities (600) (600) Total 2,041 2,041 Page 12