CHARITY REGISTRATION NUMBER: NIC107120 Teach na Failte Financial Statements 31 March 2023 SP MCCAFFREY & CO Chartered accountants & statutory auditor 50 Campsie.Road Omagh Co Tyrone BT79 OAG Teach na Failte Statement of Financial Activities Year ended 31 March 2023 2023 Restricted funds Total funds Total funds 2022 Unrestricted funds Note Iniome and endowments Donations and legacies Charitable activities 3,336 15,683 10,331 13,667 15,683 98,200 15,438 Total income 19,019 10,331 29,350 113,638 Expenditure Expenditure on charitable activities Total expenditure 17,981 10,331 10,331 28,312 118,772 118,772 17,981 28,312 Net incomel(expenditure) and net movement in funds 1,038 1,038 {5,134) Reconclliation of funds Total funds brought forward Total funds carried forward 10,872 10,872 11,910 16,006 11,910 10,872 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 12 to 17 fomi part of these financial statements. 10 Teach na Failte Statement of Financial Position 31 March 2023 2023 2022 Note Flxed assets Tangible fixed assets CuSrent assets Debtors Cash at bank and in hand 12 595 595 13 6,134 6,632 11,950 8,628 20,578 12,766 Credltors: amounts falling due within one year Net current assets 14 1,451 11,315 10,301 10,277 Total assets less current liabilities 11,910 10,872 Funds of the charity Unrestricted funds 11,910 11,910 10,872 Total charity funds 10,872 These financial statements were approved by the board of trustees and authorised for issue on 16 November 2023, and are signed on behalf of the board by: urray Trustee T Stewart Trustee The notes on pages 12 to 17 forni part of these financlal statements. 11 Teach na Failte Notss to the Financial Statements Year ended 31 March 2023 General information The charity is a public benefit entity and a registered charity in Northern Ireland and is unincorporated. The address of the principal office is 39 Bowling Green, Strabane, BT82 8BW. ststement 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 Charities Act (￿Orthern Ireland) 2008. Accounting policles 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. Disclosure exemptions The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. (a) No cash flow statement has been presented for the company. (b) Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estimation uncertainty Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 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. 12 Teach na Failte Notes to the Financial Statements f¢ontlnued) Year ended 31 March 2023 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 fecognised when there is evidence of entitlement to the gift, receipt is probable and its arnount 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 ft)r 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 be￿een 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 impaiment losses. 13 Teach na Failte Notes to the Financial Statements (continugdj Year ended 31 March 2023 Accountlng policios (contlnued) Tangible assets {¢ontlnued) 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 expenditu￿ 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 previou& 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. Vvhere 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. Donations and legacies Unrestricted Funds Restricted Total Funds Funds 2023 Donations Donations 3,336 3,336 Grants International Fund for Ireland Peace Impact Programme Co-operation Ireland - Open Doors Derry & Strabane Council VCSE COVID Recovery Fund 4,331 4,331 6,000 6,000 3,336 10,331 13,667 Unrestricted Funds Restricted Total Funds Funds 2022 Donations Donations 5,497 5,497 14 Teach na Failte Notes to the Financial Statements (conllnued) Year ended 31 March 2023 Donations and legacies (contlnuedj Unrestricted Funds Restricted Total Funds Funds 2022 Grants International Fund for Ireland - Peace Impact Programme Co-operation Ireland - Open Doors Derry & Strabane Council VCSE COVID Recovery Fund 41,178 44,975 125 6,425 92,703 41,178 44,975 125 6,425 98,200 5,497 Charitable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Activities 15,683 15,683 15,438 15,438 Expenditure on charitable activtties by fund type Unrestricted Funds Restricted Total Funds Funds 2023 Peace Impact Programme Co-operation Ireland Support costs 4,336 4,336 17,981 17,981 5,995 10,331 23,976 28.312 Unrestricted Funds Restricted Total Funds Funds 2022 Peace Impact Programme Co-operation Ireland Support costs 41,178 44,975 6,550 92,703 41,178 44,975 32,619 118,772 26,069 26,069 Expenditure on charltable actlvltles by actlvlty type Grant funding of activities Support costs Total funds 2023 Total fund 2022 Peace Impact Programme Co-operation Ireland Governance costs 4,336 4,336 41,178 44,975 32,619 23,976 23,976 4,336 23,976 28,312 118,772 16 Teach na Failte Notes to the Financial Statements {eontinuedJ Year ended 31 March 2023 Analysis of support costs Analysis of support costs activity 1 Total 2023 Total 2022 Premises General office Bank fees Activity Costs Auditors fees Sundries 9,302 886 450 12,497 9,302 886 450 12,497 6,811 86 173 22,949 1,500 1,100 23.135 23,135 32,619 Auditors remuneration 2023 2022 Fees payable for the audit of the financial statements 1,450 1,400 10. Staff costs The average head count of employees during the year was Nil (2022.. 4). No employee received employee benefits of more than £60,000 during the year (2022.. Nil). 11. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 12. Tangible fixed assets Equipment Cost At 1 April 2022 and 31 March 2023 Depreciation At 1 April 2022 and 31 March 2023 Carrying amount At 31 March 2023 595 595 At 31 March 2022 595 13. Debtors 2023 2022 Trade debtors 6,134 11,950 16 Teach na Failte Notes to the Financial Statements (contlnued) Year ended 31 March 2023 14. Creditors: amounts falling due wlthln one year 2023 2022 Trade creditors Grant in advance 1,451 5,970 4,331 1,451 10,301 17