COMPANY REGISTRATION NUMBER: N1650654 CHARITY REGISTRATION NUM8ER.. 107335 MHS Heritage & Culture Ltd Company Limited by Guarantee Unaudited Financial Statements 31 March 2022 CLAREMOUNT Chartered Accountants 2 Martins Terrace Maghera B T46 5BT
MHS Heritage & Culture Ltd Company Limited by Guarantee Financial Statements Year ended 31 March 2022 Page Trustees, annual report (incorporating the directorfs report) Independent examinerfs report to the trustees Statement of financial activities (including income and expenditure account) Statement of financial position Notes to the financial statements
MHS Heritage & Culture Ltd Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) Year ended 31 March 2022 The Iruslees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2022. Reference and administrative detsils Règist¢rgd charity name MHS Herrtage & Culture Ltd Charity rggistration number 107335 Company registration number N1650654 PrinGipal office and reglstered 11 Main Street Maghera Co. Dery BT46 5BN The trustees Mr J Armour Ms J Dunne Mr J Marquess Independent examlner Karol Mccauley Claremounl Chartered Accountants 2 Martins Terra Maghera BT46 5BT Structure, govemance and management The charity was established under the regulation of the Charity Commission Northem Ireland as a company limited by guarantee. Oblectlves and activities M H S Heritage & Culture Ltd was established in 2019 because of re-slrucluring of the Maghera Historical Society. The new company MHS Heritage & Culture Ltd incorporates Maghera Historical Society. The newly formed company is registered with the Nl Charities Commission Reg No NIC107335 and Registry House. The purpose of the organisalion is lo promote awareness of the value and importance of the local history, heritage and culture of the area lo the people of Maghera and surrounding districts. To provide a suitably equipped drop-in centre in the town where people off 811 ages and capabilities can access information, records, publications, photographs, memorabilia, folk memories and artefacls connected with the town and ils people. These can be collected, preserved, displayed and consulted in a venue that is open lo the public. This centre will be used lo run a programme of events and as a drop-in facility to help address thè health and well-being of all, especially the socially isolated, vulnerable, special needs arKI those with mild or severe disabilities.
MHS Heritage & Culture Ltd Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director's Report) Icontinuedl Year ended 31 March 2022 To engage ané work with the local community in an open and inclusive way involving people from all backgrounds. We will continue lo foster and develop cross-communily social inleraclion, pride in the town thus improving quality of life for the residents of the town and the surrounding districts. To provide a suitably equipped Men's Shed and Ladies Craft Room for use by anyone from the community lo ply their craft in woodworking or metslwork. During the year 2021122 we were drastically curtailed with our events and activities because of the Covid 19 pandemic. However, we were able lo gel on with the refurbishing and upgrading of our new premises al 11 Main Street, Maghera. Covid 19 eased somewhat during the early part of 2022 and this allowed us to open our doors once again lo the whole community. We were able lo host a few indoor events, lectures, workshops and seminars. We also welcomed lo the area an additional volunteer Dr Seamas Donnelly who with his vast knowledge in all things Irish was able to deliver two very interesting lectures on the translation of place names from English lo Irish and this attracted a full house. Our Knit & Natter group has continued to grow, and the group now meet lce monthly. The Book Club that meets every month is proving very popular with all ages. We continued lo meet with members and volunteers through Zoom and although not totally sa115faclory meant we conb'nued keep in touch with everyone. Activitigs carried out We did survive the battle with Covid and with a reasonably healthy bank account we continued lo work on the ground floor refurbishments. This has been completed and now have in place a very warm and welcoming space for the whole community lo use as and when they require the facilities. We are r*ow in a position lo host meetings and put on events asked for by the local people. An application has been submitted lo the Depl of Health for a grant of £164POO lo cover core costs, salaries and ulililies for a 3-year period. We should have a response lo the application in early 2023. A grant application is 21 present being prepared for submission lo the National Lottery {Community Fund) for help with the completion of the first floor room converting il into an auditorium. We continue lo develop our interaction with other organisalions. We are al present diversrfying and establishing an educational theme lo our organisalion, this will be for all ages. This progression will involve bringing together all school principals and vice principals from primary and secondary schools in the South Derry area lo discuss the possibility of introducing Leadership Courses and Education aboijl Education to the school curriculum. The research library and genealogy room have been completed and are immediately po$ilioned next to our exhibition gallery. Our organisalion continues lo hold membership of the following organisalions.. NICVA. CWSAN, Mid Ulster District Council, Social Enterprise Nl, Workspace.
MHS Heritage & Culture Ltd Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Iconllnu•d) Year ended 31 March 2022 An outdoor office has been completed lo facili18te private meetings, board nieetings. InleNiews elc. This facility will be available for hire by other similar orgariisalions. Achlevements and p•rfomanco All activities listed under 'aclivilies' were successfully carried by our committee and volunteers in professional and efficient manner. Our management team remains the same with active Directors., James Armour, John Marquess, Jean Dunne. Co Sec Maeve O'Neill. Flnanclal r•vl•w The re$ull$ for the period are sel out in detail on pages 5 10 14. The charity incurred nel incomlng resources for the yéar of £7,000 of which £2,789 was unreslricled and £4,211 is reslricled12021 nel incoming resources of £34,199 of whi¢h was £2,700 unreslricled and £31,499 was reslricledl. The trustee5 aim lo have a reserve covering al least three months expenditure al any given lime. Plans for future porlod• Our plans for the future a lo develop further and reach out lo the wider geographical area and invite more of similar organi$ations lo become involved with Maghera Heritage & Culture who if reqLtire¢J would like lo give assistance in selling up their own Heritage CenlTe. 'Herilage is the Future. Continue the work on the first floor and develop the area into an auditorium for use by the local performing arts, artists, musicians, corporate functions and musical events and as a general open house. Continu8 and develop our programmes of reaching out lo the elderly, the vulnerable, the disadvantaged, those with special needs and Ihose who are socially isolated. Making greater use of our mini-bus service by offering a door lo door collection service for those who are physically challenged or with mlld disabilllles. Develop a support service for the younger and older citizens who may have ml$$ed out on pursulng a higher level of education during their earfier years. We will be Supporting the developing of the languages such as Ulster Scots and Irish. Record and document slang words used in numerous areas throughout Ulster. 'The Words our Granny Used.. We wish lo revive the Agricultural Show in 2023 which has been dormant for 2 years. Small company provlslons This report has been prepared in accordance with the provlst*ns appIlble lo ¢ompan+es entitled lo the small companies exemption. The Iruslees. annual rewrt was approved on 07 December 2022 and signed on behalf of the board of Iruslees by.. MrJ Amiour Trust•0 Mrg Dunn• Truste•
MHS Heritage & Culture Ltd Company Limited by Guarantee Independent Examiner's Report to the Trustees of MHS Heritage & Culture Ltd Year ended 31 March 2022 I report lo the Iruslees on my examination of the financial statements of MHS Heritage & Culture Ltd I'lhe charty'} for the year ended 31 March 2022. Responsibilities and basis of report As the tnjstees of the company land also ils directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 Ilhe '2008 Act'l and the Companies Act 20061.lhe 2006 Acl'l. You are satisfied that the accounts of the company are not required by charity or company law to be aLbdiled and have chosen instead to have an independent examination. Having satisfied myself that the account5 of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carying out my examination I have followed the general Directions gwen by the Charity Commission for Northern Ireland under section 65{9llb) of the 2008 Act. Independent examinerfs statement I have completed my examination. I confirm that no matters have come lo my attention in connection with my examination giving me cause lo believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of an independent examination., the financial statements have not been prepared in accordance with the methods and principles of the Slalernent of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I confirm that there are no other matters lo which your attention should be drawn to enable a Proper understanding of the accounts to be reached. Mr Karol Mccauloy CLAREMOUNT 2 Martlns Terrac• Maghera BT46 5BT 07 December 2022
MHS Heritage & Culture Ltd Company Limited by Guarantee ststement of Financial Actlvltles {including income and expenditure account) Year •nd•d 31 March 2022 2022 Reslricled funds Total funds 2021 Unreslricled funds Total funds Incoma and 8ndowmont$ Donations and legacies Charitable activities 1,303 1,486 67,315 68,618 1,486 88.940 300 Total income 2,789 67,315 70,104 89.240 Expenditure Expenditure on charitable activities Other expenditure Total expendlture 33,409 29,695 33,409 29,695 26,109 28.932 63,104 63,104 55.041 Net income and net movement in funds 2,789 4,211 7,000 34,199 Reconelllatlon of funds Total funds brought forward Total funds carrled for•vard 7,654 203,511 211,165 176,966 10,443 207,722 218,165 211,165 The statement of financial activities includes all gains and10sses recognised in the year. All income and expenditure derive from continuing activities. Th• not•s on pagès 7 to 14 form part of the flnanclal statorn•nl8.
MHS Heritage & Culture Ltd Company Limited by Guarantee Statement of Financial Positlon 31 March 2022 2022 2021 Nots Fixed assgts Tangible fixed assets 13 212,348 205,012 Currént assets Debtors Cash at bank and in hand 14 2,000 52,724 52,894 52.894 54,724 Creditors.. amounts falling dug Within one year Not currgnt assgts 1S 7.395 6,197 45,499 48,527 Total a$sets1gs$ Gurront liabilitigs 257.847 253,539 Craditors: amounts falling duo aftor rnore than ono year Net assets 16 39.682 42,374 218.165 211,165 Funds of the charity Reslricled funds Unrestricted funds 10,443 207.722 203,511 7,654 Total charity funds 17 218.165 211,165 For the year ending 31 March 2022 the charity 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 lo obtain an audit of ils financial statements for the year in question in accordance with section 476., The directors acknowledge their responsibilities for complying with the requirements of the Act with respect lo accounting records and the preparation of financial slalements. These financial statements have been prepared in accordance with the provisions applicable lo companies subject lo the small companies. regime. These financial slalemenls were approved by the board of trustees and authorised for issue on 07 December 2022, and are signed on behalf of the board by.. r J Amiour Trustea mr Dunne Trust99 The notes on pages 7 to 14 form part of thos• flnanclal statements.
MHS Heritage & Culture Ltd Company Limited by Guarantee Notes to the Financial Stat•m•nts Year ended 31 March 2022 General Informatlon The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is 11 Main Street, Maghera, Co. Derry. BT46 58N. Statement 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 Republi¢ of Ireland IFRS 1021 (Charities SORP {FRS 102)) and the Companies Act 2006. Accounting policies Basis of preparation The financial statements have been prepared on the historcal cost basis, as modified by the revalLJalion of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure. The financial stslemenls are prepared in sterling, which is the funcb'onal currency of the entity- Going conrn There are no material uncertainties about the charity's ability lo continue. 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 unreslricled funds earmarked by the trustees for particular future project or commitment. Reslricled funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. reslricled income funds or endowment funds.
MHS Heritage & Culture Ltd Company Limited by Guarantee Notes to the Flnanclal Statements (conthuod) Year ended 31 March 2022 Accounting policies (c¢xrflnuoO) Incomlng resources All incoming resources are induded in the statemenl of financial actrvities when enlillemenl has passed to the charity", it is probable that the economic benefits associated with the transaction will flow lo the charity and the amount can be reliably measured. The following 5pecrfic policies are applied to particular categories of income". income from donations or grants is recognised when there is evidence of entitlement lo the grft. receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entiuement 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 esb"maled resale value. Donated facilities and services are recognised in the accounts when received rf the value can be rdiably 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 conlracled service. This is classrfied as unrestricted funds unkss there is a COntrt#1 requirement for il lo be spent on a particular purtM)se and returned rf unspent. in whi¢h ¢age 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 fvlly recovered, and is dassrfied under headings of the statement of financial tltIeS to which il relates.. expendrture on raising funds indudes the costs of all fundraising activrties, events, rn-Charitab1e trading activities, and the sale of donated goods. expenditure on chafitable aclivilw indudes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of its nefiCIaries. induding those supwrt costs and costs relating to the governance of the charity apportioned to charitable activities. other experKJiture indudes all expenditure that ts neither related lo raising funds for the charity nor part of its expenditure on charitae act¢vities. All costs are allocated lo expenditure categories refiecting the use of the resource. Direct costs attributable lo a single activty are allocated directly to that activity. Shared costs are apportioned between the activities they eonlribute to on a reasonable. justifiable and consislenl basi5. Tangible assets Tangible assets are initially recorded al cosl. and subsequentiy slated al cost less any accumulated depreciation and impairment losses. Any tangible assets 12rried al revalued amounts are recorded al the fair value al the date of revaluation less any subsequent accumulated depreCtIOn and subsequent accumulated impairrnent losses.
MHS Heritage & Culture Ltd Company Limited by Guarantee Notes to the Financial Statements (condnued) Year and•d 31 March 2022 Accountlng poli¢io3 (¢ontlnu•¢l) Tanglblè a$$ots (witlnu•d) An increase in the ¢arying amount of an asset as a result of a revaluation, Is recognlsed In other re¢ognised gains and losses, unless il reverses a ¢harge for impairment that has previously been recognised as expenditure within the slalemenl of financial aclivilies. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses, except lo which il offsets any previous revaluation gain, in which case the 10s5 is shown within other recognised gains ané losses on the statement of financial aclivilies. Depreclatlon Depreciation 1$ cal¢ulaled so as lo write off the cost or valuation of an asset, less ils residual Value, over the useful e¢onomic life of that asset as follows.. Motor Vehicle$ Long leasehold property Equipment Fixtures, fittings & equipment 250h reducing balance 20/0 reducing balance 15Qkn reducing balance 15Q/o reducing balance Impalmi•nt of flx•d assets A review for Indicators of impairment is carried out al each reporting éale. with the reGoverable amount belng 8s1imaled where such indicators exist. Wheie the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairmen15 are also reviewed for po$$lble reversal at each reporting dale. For the purposes of impairment testing, when il is not possible to estimate the recoverable amount of an individual asset, an esllmale is made of the recoverable amount of the ¢ash-generaling unil lo which the asset belong$. The Cash-generaling unil is the smallest identifiable group of assets that include$ the asset and generates cash inflows that largely independent of Ihe cash inflows from other a$5els or groups of assets, For impairment lesling of goodwill, the goodwill acquired in a business combinallon is, from the acquis11ion dale, allocated lo each of the cash-generaling units that are expected lo benefit from the synergies of the combination, irresp8¢1ive of whether other assets or liabilllles of the charity are assigned lo those units. Flnanclal Instrumont$ A flnancial asset or a financial liability Is recogni$ed only when the entity becomes a party lo the conlraclual provisions of the inslrumenl. Basic financial instruments are initially recognised al the amount receivable or paable including any related transaction costs, unless the arrangement conslilulgs a financing Iransaclion, where it is recognised al the present value of the future payments discounted al a market rale of interest for a similar debt instrument. Current assets and current liabilities are subsequently measured al the Gash or other consideration expected to be paid or received and not discounted.
MHS Heritage & Culture Ltd Company Limited by Guarantee Notes to the Financlal Statements (conthw Year ended 31 March 2022 Limitgd by guaranteg The company is limited by guarantee and, Iherefore. there is no issued share capital. Donations and legacies Unrestn'cted Funds Restricted Totsl Funds Funds 2022 Donations Donations Sponsorship Membership Fees 1.123 1,123 180 Grants National Lottery Mid Ulster District Council Safe Return Fund Project Maghera Memories 32.265 1.500 5.645 27,5 32,265 1,500 5,645 27,905 1,303 67.315 68,618 Unrestricted Funds Restricted Total Fund$ Funds 2021 Donations Donations Spons(Kship Membership Fees 395 3,523 240 395 3.523 240 Grants N8tion21 Lottery Halrfax CCF Covid Fund - Social Enterprise Grant Maghera Development Assc CHFNI Project CJRS Income 38.940 6,400 2.500 17.000 6.500 g.gx)o 3.542 38.940 6,400 2,500 17,000 6,500 9.900 3,542 4,158 84.782 88,940 Charitable activitigs Unrestrthd Total Funds Unrestricted Total Funds FuTrJs 2022 Funds 2021 Retail salesirundraisinshOW irKome 1,486 300 10
MHS Heritage & Culture Ltd Company Limited by Guaranto0 Notes to the Financial Statements (contlnuedl Year ended 31 March 2022 Expondltur• on charltable actlvltlas by fund type Unrestricted Fund5 Reslricled Total Funds Funds 2022 Staff expenses Advertising and promotion Project Costs Support costs 21,205 1,410 10,794 29,695 63,104 21,205 1,410 10,794 29,695 63,104 Unre$tri¢led Funds Reslri¢led Total Fund• Fund$ 2021 Staff expenses Advertising and promotion Project Co$1$ Agri show and ¢ounlry Fayre Support Costs 16.090 1.493 8.526 16.090 1,493 8.526 1,758 1.758 27.174 28,932 55,041 53.283 Exp8ndlturo on charltable actlvltlos by actlvlty typo Support Total funds Cosls 2022 CORE Stsff expenses Advertising and promollon Project Costs Rates and water Heal and light Repair5 and maintenance Insurance Accountancy Telephone and inlernel Office and computer costs Bank charges Depreciation IT & Software Interest Charge Cleaning & Consumables Sundry Travel Professional 21,205 1,410 10,794 21.205 1,410 10.794 482 2.930 5.912 973 2.380 1.149 1,363 353 6.912 190 2.372 2,094 215 1.870 500 482 2,930 5,912 973 2.380 1.149 1,363 353 6,912 2,372 2.094 215 1.870 500 33,409 29,695 63,104
MHS Heritage & Culture Ltd Company Limited by Guarantee Notes to the Financial Statements (Gontinuodj Year ended 31 March 2022 8. Expenditure on charitable activlties by activity type Support Total funds Costs 2021 CORE Staff expenses Advertising and promotion Project Costs Rent Rates and water Heal and light Repairs and maintenance Insurance 16,090 1.493 8.526 16.090 1,493 8.526 1.365 247 1.s69 4,398 759 1,365 247 1,569 4,398 759 fr 'il Accountancy Telephone and internel Office and eomputer costs Bank charges Depreciation IT & Sofvare Interest Charge Cleaning & Consumables Sundry Travel Professional 1,620 1,680 1,620 1,680 860 108 6.667 353 2.566 3,562 2.105 1.043 30 108 6,667 353 2.566 3,562 2,105 1,043 30 26,109 28,932 55.041 Not incomg Nel income is slated after chargingllcrediting}-. 2022 2021 Depreciation of tangible fixed assets 6,912 6.667 10. Independent examlnation fees 2022 2021 Fees payable lo the independent examiner for.. Independent examination of the financial statements 1,000 600 12
MHS Heritsge & Culture Ltd Company Limited by Guarantee Notes to the Financial Ststements (contlnu8dl Year ended 31 March 2022 11. Staff costs The lolal staff costs and employee benefits for the reporting period amounted lo Nil. The average head count of employees during the year was 512021.. 31. No employee received employee benefits of more than £60,0(X) during the year12021.. Nil}. 12. Trustee r•mun8ration and expenses No remuneration or other benefits from employment with the charity or a related entity were reiVed by the trustees. 13. Tangible fixed assets Long leasehold Fixtures and propety fittings Motor vehicles Equipment Total Cost Al 1 April 2021 Additions 196,457 10,784 3.098 2,900 15,718 3,464 218,173 14,248 At 31 March 2022 207,241 3.098 2,900 19,182 232,421 Depreciation Al 1 April 2021 Charge for the year At 31 March 2022 7,353 4,006 465 395 435 370 4,908 2,141 13,161 6,912 11,359 860 805 7,049 20,073 Carrying amount At 31 March 2022 195.882 2,238 2,095 12,133 212,348 Al 31 March 2021 189,104 2,633 2,465 10,810 205,012 14. Debtors 2022 2021 Trade debtors 2,000 13
MHS Heritage & Culture Ltd Company Limited by Guarantee Notes to the Financial Statements Icontin¢md) Year ended 31 March 2022 1 S. Crèditors.. arnounts falling due wlthln one year 2022 2021 Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and other taxes 5,063 327 1,000 1,005 5.063 216 600 318 7,395 6,197 16. Creditors: amounts falling duè after morg than ong ygar 2022 2021 Other creditors 39,682 42,374 17. Analysis of charitable funds Unrgstrictod funds At 1 April 2021 At Income Expenditure 31 March 2022 Unreslricled funds 7,654 2,789 10.443 Rgstrictod funds At 1 April 2021 At Income Expenditure 31 March 2022 Restricted Fund 203,511 67,315 163,1041 207,722 14