Company RogSstratlon Number . N1636756 Frlends of tho Darry Wall• Ltd Flnon¢lo1 Si•lomont¥ Jnd Tru¥teo8' Report lor Ihe yo•r Onded 28 Fobruary 2025
Frlènds of the Derry Walls Ltd Company Ilmlted by guarantee Contents Page Legal and Administrative Information Truslees Report Independent Examiner's Report Slalement ol Financial Activities lor the year ended 28 February 2025 Balance Sheet as ai 28 February 2025 Notes lo the Accounts 9-13
Frl?nd¥ of the Dorry Wall$ Ltd Company limited by guarantee Legal and Admlnlslrallv8 Intorrnatlon Status Tho organisalion is a chariiable company limited by guaranlee, incorporated on 29 February 2016 and is recognised as a charity by the Northern Ireland Charity Commission. The ooverning document 15 a Memorandum and Articles ol Association. Dlreclors . Edel Grillin Elizabelh Hegarty Anne Mccanney Niall Mccaughan William Moo¥e Accounlanls . F¢rgus McAieer & Co Chartered Accounlanls 31133 Clarendon Sire81 Derry 8T48 7ER Maln B•nkers: Dan5ke Bank 8usines$ Branch Donegal Square Wesl Bellasl Regl•torod Ofllca . Verbal Arts Centre Stable Lane Oerry 8T48 6PU Company Numb•r: N1636756 Charlty Comml#ylon for Northorn Ir8land Number: NIC 106809 Page 1
Frlends of the Derry Walls Ltd Trustees, Annual Report for the year ended 28 February 202S Report ol the trustees for the year ended 28 February 2025 The directors are pleasee lo presenl their annual report logether with the financial slalemenls ol the Charity lor the year ended 28 February 2025 which are also prepared lo meet the requirements lor a Directors, feport and accounts for Companies Act purposes. The linancial statemenfs comply with the Charities Act INI) 2022, the Charities IAccounts and Reports) RulationS INI) 2015, Companies Act 2006, Ihe Memorandum and Articles ol Association, and Accounting and Reporting by Charities.. Statement ol Recommended Practise applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Iroland IFRS1021 leffective 1 January 2019.1 Dlreclors and trustèes The directors ol the charitable company Ilhe Charity) are thè trustees lor the purposes ol Gharily law. The Iruslees duiing the year and at 28 February 2025 were as loliows.. Edel Grillin Elizabeth Hegarty Anne Mccartney Niall Mccaughan William Moore Our purposes and actlvltles The company's objects are specifically restricted lo the following.. lal lo educate the public in the hislory, natural history and architecture ol the area ol benelil.. Ibl lo secure the preservation, protection and iproveMent ol features ol historic public irlteresl in the area ol benefit in particulai the historic del&nces and city walls ol DerrylLon¢Jonderry; Aehlevemenls and performance Since the charity's registration in 2017 we have worked to promote local awareness ol the signilicance of the Deriy Walls through the production ol educational and interpretive materials and lileralure, and by arranging and organising educational and training events and programmes about the heritage and conservation ol the Derry Walls. Flnanclal revlow During the year income of £3,369 was received128 February 2024 £1001 and costs of £1,922 were incurred 128 February 2024 £6301 to leave a net income of £1.447128 February 2024 delicil £5301. The reserves at the end ol the year were £3,488128 February 2024 £2,041) ol which all are unreslricled. The Trusteos were pleased with tho resu1¢3 lor th¢ year. Page 2
Frlendg of the Derry Walls Ltd Trusteey, Annual Report for the year onded 28 February 2025 Reserves pollcy and golng concern Reserves arg needed lo bridge the gap between the spending and ie¢eiving ol inGomo and lo cover unplanned emergency costs. Due lo the nature ol Charity, no activities are started or Costs incurred unlil funds are secured from members. The Trustees consider that only nominal reserves are necessary lo meet luturg Costs. Plan¥ for lulur• porlod8 We continue lo organise and carry out a series ol educational and promotional èvents lo continue lo educale the piJbli¢ and lo help secure the preservation, prolechon and improvement ol the arèa ol benglit, being Ihe Derry Walls. Po$t Balance Sheel Events Subsequeni io ihe year end, Iho company was dissolved by Companies House. The Iruslees are iaking steps lo reslore the company to the register and 8xcl thè charl18 a¢livlllas to continue. Further details are providod in Note 11 lo th8 financial slalemenls. Statement of trust3 r•sponslblllt188 Thg chartY Irusiees (who are also the direciofs ol the Friends ol the Derry Walls Ltd lor the purposes ol company lawl are responsible lor preparino a Iruslees, annual report and linaneial staternen15 In accordance with appli¢ablg law and Uniled Kingdom Accounting Standards Iunilad Kingdom Goneralty Acceplod Aeeounling Praclicel, Company law requires Ihe directors lo prepare financial slalemgnls lor each linancial year which give a truè and lair view ol the slate ol allairs ol the charitable company and ol Ihe profil or loss ol thg company lor Ihal year. In preparino these the Irusiees are required to.. strlecl suitable accounting policies and appty them consislenlly.. make judgements that are reasonable and prudent,. observe thè method5 and principles in Ihg Charities SORP., state whelhor applicable UK Accounting Standards have been followed. subjecl lo any material departures disc105ed and explained in the linancial slatemenls.. prèpare the financial stalomenls on Ihe going concern basis unless il is inappropriate lo presume that the oiganisalion will continue in business. The directors are responsiblo lor keeping proper accounting records which disclose with reasonable accuracy 81 any lime the financial posilion ol the company and lo enable them lo ensure that the Ilnancial stalgmenls omply with the Companies Act 2006. They are also responsible lor sale9uarding the assols ol the company an¢J hence lof takin9 reasonable steps lor the prevention and detection ol Iraud and other irreoularilies. Small company provlslon$ This report has been prepared in accordancg with Ihe provisions applicable lo compani88 ènlilled lo the small companies exemption. These linancial 51alements were approved and aulhorised lor issue on 6 August 2026 and signed on behalf ol the boa Niall stee Page 3
Frlends ot the Oerry Walls Ltd Company limited by guarantee Report to the board of dlroclors on the preparatlon of the unaudlted statutory flnanclal statements of Frlends of the Derry Walls Ltd Year endèd 28 February 2025 We report solely to the charity trLJStees on our examination ol thè accounts lor the period ended 28 February 2025. To the lu11esl extent permitted by law, we do not accept or assume responsibility lo anyone other than Friends ol the Derry Walls Ltd and its trustees as a body lor Okjr work or lor this report. As a praclising member firm ol Chartered Accountants Ireland. we are subject lo its ethical and olher prolgssional requirements which are detailed at www.charteredaccounlanls.ie. Respectlve rgspon$lbllllles of char5ty truslees and examlner As the ¢harily Iruslees land also the directors of the company lor thè purposes ol company kw) you arg responsible lor the preparation ol the a¢coun15 in accordan¢e with the requirements ol the Companies Act 2006 and the Charities Acl (Northern Ireland) 2008. Having satisfied ourselves Ihal the charity is not subjeGI Io an audit under company law. and is eligible lor indeptsndent examination, it is our responsibility lo. - examine the accounts under secbon 65 01 the Charities Act. follow Ihe procedures laid down in general Direclions given by the Charity Commission lor Northern Ireland under section 6519llbl ol the Charities Aet. state whether particular matters have come lo our attention. Basls of Indepgndgnl oxamlnerfs roport We have examined your charity accounts as required under section 65 01 the Charities Act and our examination was carried ovl in accor¢Jance with the general Directions given by the Charity Commission lor Northern Ireland under section 651911bl ol the Charities Act. The examinatlDn included a review ol the accounting records kept by the charity and a comparison ol the accounts presented with those records. 11 also included Consideration ol any unusual ilems or disclosures in the accounts, and seeking explanations from you as charity Iruslees concerning any such matters. Our role is lo slate whether any maleiial matters havg come lo our attention giving us concern lo believe.. 1. thal accokjnling records were not kept as required by section 386 01 the Companies Act 2006 and section 63 01 the Charities Act., 2. Ihal the accounts do not accord with those accounting r¢cord5', 3. that the accounts do not comply with the aOUntIng rèquirements ol seeiion 396 01 the Companies Act 2006. the Charities Acl and with methods and principles ol the Charities Sialemenl ol Recommended Praclise applicable lo charilies preparing their accounts in accordance wlh the Financial Reporting Standard applicable in the UK and Republic 01 Ireland. 4. that there is further information needed lor a proper understanding ol the accounts lo be reached. P•g& 4
Frlends of the Derry Walls Lld Company Ilmlt8d by guarant8 Report to the board ot dlrèctors on Ihe preparatlon of th& unaudlted statutory flnanclal statèmenls ol Frlendg of the Derry Walls Lld Icontlnued) Year ended 28 February 2025 Indendent Examinor's Slatomont We have comploled our examinaiion and have no concerns in respecl ol Ihe maueT$11110141 above and, in connection with lollLiwing the Directions ol the Charity Commission lor Northern Ireland, we have found no matters that require drawing lo your attanlion. , 4- Fergus McAteer & Co Chartered Accountant• 31133 Clarendon Street Dèrry 8T48 7ER 0 6 AUG 2026 6 Augu•t 2026 Page S
Frlends ol the Derry Walls Ltd Company Ilmltèd by guarantee Slalgm8nl of Financlal Activiti6¥ (In¢ludlng Inceme and expendlture account} tor the year ended 28 February 2025 Unre8trlcted Restrlcted Funds Fund$ Totals 2025 TotJl$ 2024 Nol•8 Income and ondowm8nt* Donations & legacies Income from charitable activities 540 2,829 540 2.829 100 Total Incom• 3,369 3,369 loo Expgndltur• Charitable activities 1,922 1,922 630 Tot•1 exyndllure 1,922 1,922 630 Nel Incom• 1,447 1,447 IS301 Nol mov•mont In funds 1,447 1.447 15301 Recon¢lll•tlon ot fund• Total funds broughl forward at 1 March 2024 2,041 2.041 2,571 Total funds carried forward at 28 February 2025 3.488 3,488 2,041 The statgment ol financial activities includes all gains and losses recognised in the yèai. All income and ¢xpgndilure dèrive from continuing activities Pgge 6
Frlendg of the Derry Wallg Ltd Company limitod by guaranto0 Balance Shgot as at 28 Fobruary 2025 Unreslrlcled Restrlcted Fund9 Funds Totals 2025 Totals 2024 Nol•s Current Assèt Cash al bank and in hand Tolal curronl a8set8 4,688 4,688 2,641 2,641 4,688 Credltors: amount$ l•lllng duo wllhln ong y••r 11.2001 11,2001 Isooi Not ¢urronl as8el8 3,488 3,488 2,041 Total a8•et81888 current Ilabllltl•s 3,488 3,488 2,041 Crodltor•: •mounl• f•lllng duè Not a¥set• 3.488 3,488 2.041 The Fundg ol the Charlt Reslricted funds Unr8slrict•d lunds 3,488 3,488 2.041 Fund$ 10 3,488 3,488 2,041 For the year ènding 28 February 2025 the company was enlilled lo 8xemplion from audil under section 477 ol the Companies Act 2006 relating lo small companies. Direclors responsibilities-. The members have nol requirod Ihe company lo obtain an audit ol ils financial slalemenls lor the yeaf in question in accordance wilh section 476., The direciors acknowledge their responsibilities lof complying wilh the requirements ol the Act with respect lo accounling rKords and the preparation ol financial stalemenls. These linanc1al statements have been oreDar8d in accordance with the provisions applic¥bl8 to companie# aubject lo the small companies, regime and in accordance with FRS 102'The Financial Reportlw Siandaid applicable in Ihe UK and Rtrpublic ol Ireland.. Page 7
Frlends of the Derry Walls Ltd Company Ilmlted by guarante6 These financial stalements weie approved by the ts)ard ol directors and aulhorised loi issue on 6 August 2026, and are signed on behalf ol the board by., Nlall Mccaughan Trustee Company Regisl tlon Number . N1636756 Page 8
Frlend8 of the Derry Walls Ltd Company Ilmltod by guarant88 Notes to the flnan¢lal statèments Year ended 28 February 2025 General Informatlon Th8 company is apublic benefit entity and a privalg company limited by guarantee, registered in Northern Ireland. The address ol the registered off ice is Verbal Arts Cgnlrg. Stable Lane. Derry, BT48 6PU. Accounllng pollcSes Ba$lg Ot preparallon The financial slalemenls have been prepared in accordance with Accounting and Reporting by Charities.. Sialemenl ol Recommended Praclice applicable lo eharilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republi¢ ol Ireland IFRS 1021 lelleclive 1 January 20391 (Charities SORP IFAS 10211, the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 and the Companies Act 2006. Friends ol the Derry Walls Ltd meets the definition ol a public benelil onlily under FRS 102. Assels and liabilities are initially recognised at historical cost or t¥ansaction value unless otherwise slated in the relevanl accounting policy nolelsl. The financial slalemenls are prepared in sterling, which is the functional currency ol the entity. Golng concern Subsequent to the year end, on 5th August 2025, the company was struck off and dissoed by the Registrar ol Companies. Al th& 8alan¢e Sheet dale the charity was solvent and the Iruslees considered that it was a going concern. However. due to the subsequent dissolution ol the company, material uncertainty exists regarding the entity's ability lo continue as a going concern. These circumstanees are disc105ed in Note 11, Post Balance Sheei Events. Income Income iepresenls the lolal value ol donalions ¥eceiv¢d and ¥eceivable during the year and income received liom the sale ol prints and events associated with The Derry Walls. Expendllure Expendilure is recognised on an aceruals basis as a liability Is incurred. Expenditure includes any VAT which cannot be lully recovered. and Is classilieil under headings ol the statement ol financial activities lo which il relates.. expenditure on charitable activities includes all costs incurred by a charity in undertaking aclivrties that further ils charitable aims lor the benelil ol ils beneficiaries, inclLsding those support costs and costs relating lo the governance ol the charity apportioned lo charitable aclivilies. All costs are allocated lo expenditure categories reflecting the use ot ihe resource. Direct costs attributable lo a sinale activity are allocated directly to that activity. Shared costs arè apportioned botwtstsn Ihtr aGlivilies they Gontribule to on a rtsasonablo, iustiliable and consistent basis. Taxatlon During the current year the company has only been involved in charitable act¢vities in furtherance ol ils charitable objects and is not liable to Income Tax or Corporation Tax. Page 9
Frfends ol the Derry Walls Ltd Company Ilmlted by guarantee Noles to the flnanclal statements {contlnuedl Year gnded 28 February 2025 Flnanclal Instruments A financial asset or a linancial liability is recognised only when the company becomes a party lo the contractual provisions ol the instrument. Basic financial instruments are initially recognised ai Ihe transaciion prtce. unless the arrangement conslilules a linancing Iransaclion. where it is recognised at the present value ol the lulure payments discounted ar a market rate ol interest tor a similar debt inslrumenl. Llrnllod by gu•r•nlge Friends ol the Derry Walls Lld is a Tegislered ¢harily limited by guarantee wilhoul a share capital. Charity Commission ol Nl Numb&r'. NIC 106809 Fund¥ Unre51ricled Revenue Funds - comprise those revenue funds which the Iruslees are free lo use In accordance with Ihe company objectives. Reslricled Revenue Funds - comprise those revenue funds which have been given lor particular purposes and projecls. 5. Incom• Unroslrlclod Rg$lrl¢lod Funds Funds Tolal 2025 Total 2024 Oonallon8 and l•gacl68 Donaiions 540 540 100 Total 540 100 Incomfr Irom charllable aetlvltl•i Evonls & Prints Tat41 2,829 2,829 2,829 2,829 P•go10
Frlends ol the Derry Walls Ltd Company Ilmltèd by guarantee Notes to Ihe Ilnanclal 8tatements leontlnued} Year ended 28 February 2025 6. Expendlture Un4BStrfcled Reslrlcled Funds Funds Total 2025 Total 2024 ExndItuT• on ¢h#rll•bh •cllvllle• Room Hire Insurance Print suppligs Prinlino, postage and stationery Event lees W9bsi18 Travelling and entertainment Indèpendent &xamingrs19gS 8ank ehargos General gxpgnses 550 135 50 486 34 sso 135 50 486 34 19 289 300 57 289 300 57 600 30 1,922 1.922 630 Independent oxamlnor$ r8munerallon 202S 2024 F¢è# payabl8 10 Fees payable lor th8 indèpendent 8xaminalion ol the linancial slalemènls 300 600 Employee numbgr¥ The average numb8r ol p¢rsons employed by thè company during lh& yoar arnounled lo Nil12024: Nil). There were no person$ employed by the charity during the period. No remuneration was paid and no exn$85 wgre reimbursed lo the Iruslees during the period. The Iru5te¢s are the key management personngl ol rhe enlily. Credltors: amounts falllng due wlthln one year 2025 2024 Trade creditors Accruals 300 900 600 1,200 600 Page11
Frlends of the Derry Walls Ltd Company Ilmlted by guarantee Notes to thè flnanclal statements lcontlnuedl Year endod 28 February 2025 10. Analysls of charlt•bl8 funds Analy$lg ol movemonls In unr&glrlct8d fundy Balance at IncomlngRe8ources Funds at 181 Mar .24 Re80urces Expended Tran8f•r8 28th Feb'25 General Fund 2,041 2,960 11.8311 3,170 2,041 2.960 11.8311 3,170 Bllaneo it IncomlngRewurce$ Fund8 at 1st Mar'23 Regources Expgnded Transtern 28th Feb .24 General Fund 2,571 100 16301 2,041 2,571 100 16301 2,041 Nam• of r•8trlcted lund General Fund D•icrlptlon of the Fund Funds which the Trust Is able lo apply freely in pursuit ol ils own charilable obieciives and related purposes. Analy818 of movements In r•$lrlrA•d fund8 B8lanc• at IncomlngResOur5 Fund8 It 181 Mar'24 Resource• Expended Tr8nsfors 28th Fob .25 Roslricléd Fund Balance at IncomlngAo$ource$ Fund$ #l l•1 Wlar '23 Resourc•• Exp•nd•d Tr•n8f•r• 28th F•b'24 Reslricled Fund Reslricled Fund Funds which the Trust appli8s for particular purposes and projgcls in F)ursuii ol its charitable obigclive5 P•go 12
Friondg of the Derry Walls Ltd Company limited by guarantoe Note$ to thè Iln•nclal statements {contlnued) Year ended 28 February 2025 ATralysls of nel assets betwoon fund¥ General Restrl¢te¢fotal Funds Fund Fund 2025 4.688 4,688 Cagh at bank and in hand Other CUTrent assets Current liabilities 11.2001 11,2001 Total 3.488 3,488 General Re$trlcterfolal Funds Fund Fund 2024 2.641 2,641 Cash at bank and in hand Other cuirent assets Current liabs'lilies 16001 16001 Total 2.041 2,041 11. Events after the end of the reporting pariod Subsequenl lo the year end, the company was Struck off and dissofved by the 14egislrar ol Companies on 51h August 2025. The dissolution arose following the late filing ol the companls Confirmation Slalement. At the date ol dissolution the charity was solvent and continuing ils charitable activities. The Irusiees are taking steps to restore the company to the register and believe that restoration is likely lo be successful. The financial staternents have therefore been prepared on a going toneefn basis. However. the dissolution represents a material uncertainty whh is described lurlher in the goin9 concern policy. Page 13