CHARITY REGISTRATION NUMBER: NIC107120 Teach na Failte Financial Statements 31 March 2024 P 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 2024 2024 Restricted funds Total funds 2023 Unrestricted funds Total funds Note Income and endowments Donations 2nd legacies Charitable activities 2,520 600 1.000 3,520 600 13,667 15,683 Total Income 3,120 1,000 4,120 29,350 Expenditure Expenditure on charitable activities Total expenditure 11,368 1,000 12,368 28,312 11,368 1,000 12,368 28,312 Net (expendlture)Iln¢ome and net movement in funds (8,248) (8,248) 1,038 Reconciliation of funds Total funds brought fO￿ard Total funds carried forward 11,910 3,662 11,910 10,872 3,662 11,910 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 the8e financial 8tatements. 10 Teach na Failte Statement of Financial Position 31 March 2024 2024 2023 Nots Flxed assets T￿gible fixed assets Current assats Debtors Cash at bank and in hand 11 595 595 12 6,134 6,632 5,192 5,192 12,766 Credltofs: amounts falling due within one year Net current assets 13 2,125 1,451 11,315 3,067 Total assets less current liabllities 3,662 11,910 Funds of the charity Unrestricted funds 3,662 11,910 Total charity funds 3,662 11,910 These financial statements were approved by the board of trustees and authorised for issue on 27 March 2025. and are signed on behalf of the board by: urray Trustee T Stewart Trustee The notes on pages 12 to 17 fomi part of these financial statements. 11 Teach na Failte Notes to the Financial Statements Year ended 31 March 2024 General Informatlon 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. Statement of complianGe 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 IFRS 102)) and the Charities Act (Northern Ireland) 2008. Accountlng 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. Golng 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. Judgoments 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 sub-classes.. restricted income funds or endowment fLJnds. 12 Teach na Failte Notes to the Financial Statements (continued) Year ended 31 March 2024 Accounting policies (contlnued) Incomlng 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 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 dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. 13 Teach na Failte Notes to the Financial Statements {contlnued) Year ended 31 March 2024 Accounting policies (conllnuedj Tangible assets (¢ontinu•dJ 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. Impalmient 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 impaiments 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. Donatlons and legacles Unrestricted Funds Restricted Total Funds Funds 2024 Donatlons Donations 2,520 2,520 Grants International Fund for Ireland - Peace Impact Programme Dery & Strabane Council 1,000 1,000 2,520 1,000 3,520 Unrestricted Funds Restricted Total Funds Funds 2023 Donatlons Donations 3,336 3,336 14 Teach na Failte Notes to the Financial Statements (contlnuedj Year ended 31 March 2024 Donations and legacies (contlnued) Unrestricted Funds Restricted Total Funds Funds 2023 Grants International Fund for Ireland - Peace Impact Programme Derry & Strabane Council 4,331 6,000 10,331 4,331 6,000 13,667 3,336 Charitable activities Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Activities 600 600 15,683 15,683 Expenditure on charitable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Peace Impact Programme Support costs 11,368 1,000 12,368 11,368 1,000 12,368 Unrestricted Funds Restricted Total Funds Funds 2023 Peace Impact Programme Support costs 4,336 5,995 4,336 23,976 17,981 17,981 10,331 28,312 Expendlture on charitable activities by activlty type Total funds 2024 Total fund 2023 Support costs Peace Impact Programme Governance costs 4,336 23,976 28,312 12,368 12,368 12,368 12,368 15 Teach na Failte Notes to the Financial Statements (contlnufjd) Year ended 31 March 2024 Analysis of support costs Analysis of support costs activity 1 Total 2024 Total 2023 p￿ mises General office Travel Bank fees Activity Costs Auditors fees Sundries 8,679 615 8,679 615 9,302 886 841 450 12,497 134 1,127 675 1,138 12,368 134 1,127 675 1,138 12,368 23,976 Staff costs The average head count of employees during the year was Nil {2023= Nil). No employee received employee benefits of more than £60,000 during the year (2023.. Nil). 10. Trustee remuneration and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trustees. 11. Tangible fixed assets Equlpment Cost At 1 April 2023 and 31 March 2024 Depreciation At 1 April 2023 and 31 March 2024 Carrying amount At 31 March 2024 595 595 At 31 March 2023 595 12. Debtors 2024 2023 Trade debtors 6,134 16 Teach na Failte Notes to the Financial Ststements fcontlnued) Year ended 31 March 2024 13. Creditors: amounts falling due within one year 2024 2023 Trade creditors 2,125 1,451 17