2023-04-30-annual-return - CNAG Teoranta Limited

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

Company registered number: NI637586 Charity registered number: NIC107137

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

Tony Clarke

53 Andersonstown Road Belfast BT11 9AG

CNAG TEORANTA LIMITED

CONTENTS	PAGE
Reference and administrative details of the charity, trustees and
advisers	1
Annual Report of the Trustees	2-7
Independent Examiner Report	8-9
Statement of Financial Activities	10
Balance Sheet	11
Notes to the Financial Statements	12-18

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

Trustees' Annual Report (Incorporating the Director's Report)

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is controlled by its governing document, a Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The company was incorporated on 6 April 2016 and registered with the Charity Commission for Northern Ireland on 20 September 2021.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

NI632577

Registered Charity number

NIC104363

Registered office

Conradh Na Gaeilge 199 Falls Road Belfast Northern Ireland BT12 6FB

CHAIRPERSON

Ciaran Mac Giolla Bhein

TRUSTEES

Conchur O Muadaigh Dr Niall Comer Ciaran Mac Giolla Bhein Brónagh Fusco Michaeline Donnelly Gearóidín Mhic Mhatúna

INDEPENDENT EXAMINER

Tony Clarke FCPA

Certified Public Accountant 53 Andersontown Road Belfast BT11 9AG

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

Trustees' Annual Report (Incorporating the Director's Report)

The Trustees present their annual report together with the financial statements of the company for the 01 May 2022 to 30 April 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the company's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practices applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2016)

Structure, Governance and Trustees

CNAG Teoranta Limited which is registered as a charity with the Charity Commission for Northern Ireland, was incorporated as a company limited by guarantee in Northern Ireland, registration number NI637586, with the objective of undertaking charitable activities for the benefit of the inhabitants of Northern Ireland.

Objectives and Activities

Conradh na Gaeilge is the democratic forum for the Irish-speaking community. Conradh has over 200 branches and numerous individual members registered around the world, members that work hard to promote the use of Irish in their own areas. Conradh na Gaeilge was established by Douglas Hyde, Eoin Mac Néill, and their colleagues on the 31st of July 1893. Conradh na Gaeilge founded the company CNAG TEO and this company is charged and has responsibility with the development of Conradh na Gaeilge in the north of Ireland. CNAG TEO is a leading Irish language organisation in the north that continues to work with community groups, government departments and local bodies to ensure the voices and demands of the language community are heard and represented in forums and spaces that affect the decision making process in relation to language matters.

The organisation runs Irish-language courses; advocates for the language rights of Irishspeakers; raises awareness about the language; hosts the international Irish-language festival Seachtain na Gaeilge le Energia; manages the Irish-language information hub PEIG.ie and delivers on a wide range of programmes and projects.

Committee appointment

Conradh na Gaeilge has a board of directors trustees that oversee and direct the programme of work in the north. They meet on a quarterly basis throughout the year. They are elected at the annual general meeting that’s held in February each year. Two directors resigned in February and four new directors were appointed to our board of

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

Trustees' Annual Report (Incorporating the Director's Report)

2022 and 2023 has been hugely successful for us as an organisation and we have shown our ability to continue to grow. In an uncertain time and era we have increased our income and diversified our revenue from additional resources and continue to work to attract private and state income. We have secured income from the Department of Foreign affairs Reconciliation Fund, Community Foundation NI, and Foras na Gaeilge. We continue to look into 2023 and 2024 at additional funders. We have increased our staff team with an additional worker employed and now undertaking the work of Seachtain na Gaeilge in the north.

Irish Language Rights Work

An Lá Dearg

The work of Conradh na Gaeilge in ensuring and challenging shortcomings in the affordation of the rights of the Irish language community has proven transformational, particularly within local councils, Government Departments and other Arms Length Bodies (ALBs). In recent years, we have lobbied for more progressive, rights-based dual language street signage policies across local councils, have responded to and promoted numerous consultations, as well as submitting submissions in specialist areas that have ranged from the development of Irish language policies/strategies, to ensuring the Irish language is considered and promoted in capital projects. We have reached out and met with numerous public authorities, most recently Ulster GAA and Translink, to discuss the potential of how to better promote and protect the Irish language in their work. We continue to chair the Casement Park community and benefits subcommittee on language and culture to ensure the new capital build in the Gaeltacht Quarter is a unique and high standard bilingual

experience

Irish Language Legislation

Conradh na Gaeilge played a central role in ensuring the historic Irish language legislation as it was initially agreed in January 2020, as well as the introduction and subsequent

enactment of that very legislation 2.5 years later. During this time, we have continuously engaged with politicians, both locally and at Westminster.

We held meetings with Aontú, Sinn Féin, Alliance, SDLP and engaged with the NIO on a number of occasions regarding the content of the legislation and to discuss our concerns around the delay in implementation. We too held meetings with the Shadow Secretary of State, Peter Kyle, and Minister of State, Steve Baker.

The Identity and Language Act (2022) received Royal Assent on the 6th of December 2022. Commencement have been granted to two parts of the legislation including the legislation that allows for the commissioner to be appointed and the for the SoS to use his additional powers if needed. We continue to work on this but we are sure the lack of a functioning executive

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

Trustees' Annual Report (Incorporating the Director's Report)

Irish Language Investment Plan

130+ Irish Language and Gaeltacht organisations support An Plean Fáis as ambitious new vision for the Irish language is launched in Mansion House, Dublin, tomorrow

The Irish Language and Gaeltacht Investment Plean 2024-2029, An Plean Fáis, Over 130 Irish language and Gaeltacht groups and organisations have officially backed An Plean Fáis. The Plean Fáis sets out the way ahead regarding strengthening funding and investment in the Irish language from now to 2029. The levels of funding requested in the plan would see the creation of over 9,000 jobs (especially in the Gaeltacht), and would lead to increased provision of housing for Gaeltacht communities in their local areas, whilst also supporting local groups implement their Irish language plans effectively and providing thousands of scholarships to young people who would not have the money to attend summer courses in the Gaeltacht.

The baseline of funding provided to Irish language and Gaeltacht schemes and projects through recent decades has been consistently low, around 0.17% of State expenditure, which has left huge gaps in support provisions for the language across the county. The task here is straightforward, with more funding, we can do more to support the language. We believe that with ambitious investment we can make long lasting and effective interventions in language promotion and protection, creating more and more opportunities for people to use, access and learn the language, and to ensure equality for our Gaeltacht communities. Increasing State expenditure from 0.17% to 0.4% through the life-span of this Investment Plan will be a huge step forward.

Dearg.ie

This past year has seen immense progress made on our online organising platform; we have continued to maintain and update our media archive, giving communities access to stories which concern them. We too have continued collecting and publishing monthly articles, giving a platform to voices of activists, both young and old, right across the north. Our biggest success this year has been the development of our community lobbying tools - we have successfully encouraged participation from over 7,000 people right across the north in civic campaigns, including #LE23, cuts to vital community services, increasing the visibility of Irish in public, shared spaces as well as our ongoing tool which seeks to draw attention to the ongoing genocide in Palestine.

Communities against cuts - Padaí

Conradh na Gaeilge worked in conjunction with local early-years and community providers who were threatened with staff redundancies and extreme funding cuts. Conradh na Gaeilge supported and represented local Irish language early-years support services, including preschool ‘Gaelspraoi’ services, through the Pathway funding, and after-school services, through Bright Start funding and took part in local demonstrations to that end. On 25th May 2023 Conradh na Gaeilge worked in close partnership with the ‘Communities against Cuts’ umbrella movement to address huge crowds in Belfast City Centre, calling for funding equality to protect jobs and services.

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

Trustees' Annual Report (Incorporating the Director's Report)

Foram na nGael

We have continued in our role as chair of Fóram na nGael, the umbrella group which represents all Irish language organisations in Belfast, with a total of 4 meetings under our belt this year. We have seen increased cooperation and communication between all organisations and the unified approach has proven particularly effective in co-ordinating and encouraging participation and responses to vital consultations and public rallies. Most notably this year, Fóram na nGael championed the Communities against Cuts campaign, participated wholly in Belfast City Council’s public consultation regarding bilingual signage at Olympia Leisure Centre and are undertaking research into the ongoing challenges faced by Irish-medium early years services. Our next meeting will be convened on the 18th January 2024.

Spraoi Cois Lao

This year saw the establishment of Spraoi Cois Lao, the first Seachtain na Gaeilge event of its kind directly funded by Belfast City Council. This was a welcome development for the Irish language community here in Belfast and its success was testament to the cooperation between Féile an Earraigh and Seachtain na Gaeilge. Spraoi Cois Lao celebrated and endorsed a sense of belonging to the ever growing Irish language community in the city, attracting over 5,000 people to its very heart for a jam packed day of fun, games, activities and most importantly, in celebration of the language. The event was Belfast’s flagship Irish language community event during Seachtain na Gaeilge and Féile an Earraigh and was launched by LordMayor of Belfast City Council,

Councillor Tina Black

Spraoi

Conradh na Gaeilge has traditionally supported young people who wish to attend residential Irish-language courses in the Donegal Gaeltacht, and indeed other Gaeltacht areas on the West Coast of Ireland. The Spraoi scheme enabled Conradh na Gaeilge to provide 128 partscholarships to 51 male and 77 female secondary school students from each of the 6 counties. Increased efforts were made to target areas and schools located in disadvantaged areas and with higher rates of free school meals. Support was given to families who are in receipt of social welfare payments so as to increase access to those young people who may not be financially able to cover costs themselves. The Spraoi Gaeltacht bursary scheme is funded by Foras na Gaeilge.

Research

The ongoing lobbying carried out by Conradh na Gaeilge, particularly at local council level, has shed light on the considerable level of disparity that exists in Irish language service provision right across the north. To this end, Conradh na Gaeilge have commenced an extensive audit of Irish language provision across the 11 council areas, based upon 10 certified best-practice criteria, scoring each council as per their compliance. We too are continuously working alongside CAJ on research which will set out a pre-NDNA benchmark with regard to Irish language provision, against which all subsequent changes and progress can be measured.

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

Trustees' Annual Report (Incorporating the Director's Report)

Communication & social media

Conradh na Gaeilge runs a wide range of social media platforms. We post daily to Facebook, Twitter (X), Instagram and TikTok. We also have a regular presence on LinkedIn and YouTube. Conradh na Gaeilge seeks to disseminate our work, our projects, amplify staff and member voices and give platforms to local groups or campaigns through our social media accounts. Our accounts publish content on a bilingual Irish/English basis so as to widen access to our materials. We work closely with traditional media outlets, disseminating over 50 press releases in the 2023 calendar year. All press releases are published bilingually to all media outlets that we hold contact details for. They are kept up to date on the Conradh na Gaeilge website at https://cnag.ie/en/news-heading/news/news-archive.html

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Financial Review

The results for the year ended 31 March 2023 are set out on pages 10 and 11 of the financial The total income for the year ended 31 March 2023 amounted to £176,475 (2022:£152,411). The total expenditure was £214,556 (2022:£186,846)

The Trustees consider that the unrestricted funds of the charity is sufficient and adequate to fulfil their obligations. The charity held £39,229 in reserves at the year end (2022:£6,330).

Reserves Policy

The income of the Company is considered adequate and the risks associated with any significant reduction in income is regarded as unlikely. The Trustees are satisfied with the current level of reserves at the present time. The Trustees are reviewing the Reserves Policy in the current year.

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

Trustees' Annual Report (Incorporating the Director's Report)

Trustees' responsibilities statement

The Trustees (who are also directors of CNAG Teoranta Limited for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard (United Kingdom Generally Accepted Accounting Practice)

Company law requires the trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

Select suitable accounting policies and then apply them consistently
Observe the methods and principles in the Charities SORP;
Make judgments and accounting estimates that are reasonable and prudent;
Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in operation.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transaction and disclose with reasonable accuracy at any time the financial position of the charitable company and the enable them to ensure that the financial statements comply with the Companies Act 2016. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

CNAG Teoranta Limited is a company limited by guarantee by its Memorandum and Articles of Association. Each members liability is limited to an amount not exceeding £1.

This report was approved by the Trustees, on 15/12/2023 and signed on behalf by:

Ciaran Mac Giolla Bhein Trustee

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CNAG TEORANTA LIMITED.

I report on the financial statements of the company for the year ended 30 April 2023 which are set out on pages 10 and 11.

This report is made solely to the company's Trustees, as a body in accordance with section 65(3)(a) of the Charities Act Northern Ireland 2008 and regulations made under section 66 of the Act. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work of this report.

Respective responsibilities of trustees and examiner

As the company's Trustees (and also the directors of the company for the purpose of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the company is not subject to audit under company law, and is eligible for Independent examination.

It is my responsibility to:

examine the accounts under section 65 of the Charities Act
follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act
state whether particular matters have come to my attention.

Basis of Independent Examiner's report

I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.

My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It was also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.

Independent examiner’s statement

My role is to state whether any material matters have come to my attention giving me cause to believe:

1 That accounting records were not kept in accordance with 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 the Charities Act
4 That there is further information needed for a proper understanding of the accounts to be reached.

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CNAG TEORANTA LIMITED (continued)

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

19/12/2023

Tony Clarke Date: 53 Andersonstown Road Belfast BT11 9AG

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT

Note
2
Charitable Activities
3
Charitable Activities
5
Reconciliation of Funds
Total funds brought forward
Net income/(Expenditure)
Transfers between funds
Net movement in funds
Total Funds carried forward
Expenditure on:
Total Expenditure:
Income from:
Total Income
Donations and Legacies

Year to
Year to
Unrestricted
Restricted
30-Apr-23
30-Apr-22
Funds
Funds
TOTAL
TOTAL
£
£
£
£
11,801
-
11,801
114,272
-
164,674
164,674
38,139
11,801
164,674
176,475
152,411
50,489
164,067
214,556
186,846
50,489
164,067
214,556
186,846
(38,688)
607
(38,081)
(34,435)
71,587
(71,587)
-
-
32,899
(70,980)
(38,081)
(34,435)
6,330
70,980
77,310
111,745
39,229
-
39,229
77,310

The statement of financial activities includes all gains and losses recognised in the year.

All incoming resources and resources expended derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on page 12 to 18 form and integral part of these accounts

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

BALANCE SHEET As at 30 April 2023

Note Debtors 7 Liabilities 8 Funds Restricted 11 Unrestricted 11 TOTAL FUNDS 11 Net Current Assets Creditors:amounts falling due within one year Net assets Cash at bank Current Assets Tangible Assets Fixed Assets	- 44,079
	44,079 (4,850)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board directors on 15/12/2023 and were signed on their

Ciaran Mac Giolla Bhein Director

The notes on page 12 to 18 form and integral part of these accounts

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

NOTES TO THE ACCOUNTS

1 Accounting policies

Charity information

CNAG is a private company limited by guarantee incorporated in Northern Ireland. The registered office is: 199 Falls Road, Belfast, Northern Ireland, BT12 6FB.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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 (FRS 102)" (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

NOTES TO THE ACCOUNTS (continued)

1.4 Incoming resources (continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

1.5 Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measure reliably.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

The charity is below the charity audit threshold and therefore is exempt from reporting expenditure on an activity basis. The charity has opted to report by the nature of expenditure rather than on an activity basis.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives.

1.7 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8 Financial instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

NOTES TO THE ACCOUNTS (continued)

1.9 Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

1.10 Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.11 Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

1.12 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.13 Critical accounting estimates and judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

NOTES TO THE ACCOUNTS (continued)

	2022	2022
Unrestricted Restricted Funds Funds £ £ 11,801 -	TOTAL £ 114,272
11,801 -	114,272
	2022
114,272

	TOTAL £ 105,857 13,413 17,000 38,139 2,886
- 164,674	177,294
	2022 £ 112,636	2022
177,294 -

	112,636

No employee received emoluments of more than £60,000 (2022: None)

The average monthly number of employees during the year, calculated on the basis of full time equivalents, was as follows:

2023	2022
Number	Number
4	4

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

NOTES TO THE ACCOUNTS (continued)

5 Expenditure

Charitable Activities Accountancy Audit Bank Charge Rent CFNI Pilot Project Scholarship DFC Grant Payments Printing, Postage and Stationery Programme Costs Travel and Accommodation Salaries Total 2023 Total 2022	2023 Unrestricted Restricted Funds Funds TOTAL £ £ £ 4,020 - 4,020 - - - 416 - 416 - 600 600 - - - 1,600 1,320 2,920 - - - 1,021 - 1,021 9,994 31,141 41,135 1,893 - 1,893 31,545 131,006 162,551 50,489 164,067 214,556 722,240 - 722,240	2022
		TOTAL £ 4,020 815 510 - 585 - 11,990 - 60,310 - 112,636
		186,846

6 Trustees remuneration & expenses

During the year, no Trustees received any remuneration (2022 - £NIL). During the year, no Trustees received any benefits in kind (2022 - £NIL).

During the year, no Trustees received any reimbursement of expenses (2022 - £NIL).

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

NOTES TO THE ACCOUNTS (CONTINUED)

7 Debtors

7	Debtors
8	Grants Receivable Creditors: amounts falling due within one year Payroll Liabilities Other Creditors

9 Independent examiner's remuneration

The independent Examiner's remuneration amounts to an Independent Examination fee of £780 (2021 - £780)

10 Related party transactions

There were no related party transactions during the year.

CNAG TEORANTA LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 3O APRIL 2023

NOTES TO THE ACCOUNTS (continued)

11 Statement of funds - current year

Restricted funds Restricted funds Total restricted funds Unrestricted funds General funds Total of funds - current year Total Unrestricted funds	Balance at 1 May 2022 Income Expense Transfer in/out Balance at 30 April 2023
	£ £ £ £ £ 70,980 164,674 (164,067) (71,587) -
	70,980 164,674 (164,067) (71,587) - 6,330 11,801 (50,489) 71,587 39,229
	6,330 11,801 (50,489) 71,587 39,229
	77,310 176,475 (214,556) - 39,229

The transfer of funds recorded for the year totalling £71,587 will include management fees built into restricted grants being transferred to unrestricted.

12 Statement of fund - prior year

Total of funds - prior year Total restricted funds Total unrestricted funds	Balance at 1 May 2021 Income Expenditure Transfer in/out Balance at 30 April 2022
	71,227 38,139 (38,386) - 70,980 40,518 114,272 (148,460) - 6,330
	111,745 152,411 (186,846) - 77,310