mb, eco Tru EES, Tfort d31Dec r 2022 The Oirector5, who are the trustees for the purpose of ch4yrity law, have Pleasu in presenting thelr report and the unaudlted flnancial statements ol the charltable company for the year ended 31 Oecember 2022. The financlal 5tatemenis have been prepared in accordance wlth the Statement of Recommended Practlce "Accountlng and Reporting by Charities" (FRS 102) and the Companles Act 2006. Reference and Adrninlstration Detalls The reference and adrninistration details of the charitable company are as shown on page 2, Objectives and Activltles The principal activity of the charltable company Is to protect and preserve a key heritage asset, St Columb's Hall, and provide cultural facillties w5thin the hall. These facilities include a music venue, meetlng and rehearsal spaces and clnema. The charitable company holds a thlrty-year lease with the private company who owns the buildln9. The charitable company's strateglc objectlves are: l To advance arts, culture and heritage In the city of Londonderry l Dery (the City) by: a) establlshing and managlng cultural and soclal amenities and facilities,. b) or9anl.sing, promotlng and presentSng entertalnment Includlng concert5, pe.rformanc.p.4 and events; c) providing communlty and arts programmes to meet the needs of the whole cornmunity. and d) protectingi malntalningi repalrlng and preservlng St Columb's Hall in the City and other bulldings In the Clty of archltectural and hlstorlcal Interest: 2 To provlde facilities In the Interests of social welfare for recreation and other leisure time occupatlon with the object of Improving the conditions of life of members of the publlc; 3 To advance educatlon by the provlsion of training facllitles and In particular In the appreciation and practice of the arts and creativity includlng music, film, cineme, dance, drama, Ilterature and performlng, partlclpatory and v15ual arts,. 4 To advance human rlghts and reconcillatlon through the advancement of peace and good cornmunlty relatlons. Public Benefit Statement The Directors of St Columb's Hall Trust conflrm that they have complied with their duty urtder sectlon 416) of the Charitles Act (Northern Ireland) 2008 to have regard to the Charity CommSs5ion for Northern Ireland's 9uldance on publlc benefit and that the public benefit requlrement has Informed the activities of the charitable company In the year ended 31 December 2022. Achlevements and Pertormance Durlng 2022, the charitable company secured additlonal funding to carry out repalrs to St Columb's Hall and carried out various works. Cavana9hKellyi Chartered Accountants & Statutory Auditors Pa8e13
um Tru Co ORT for the ear 022 Continu Financial Review Financial Performance The charlty earned net incornlng resources of £72,9IS in the year ended 31 Oecember 2022 (2021 net incoming resources of £33,683). PrSnclpal sources of fundlng and how thls has supported the key objectives of the charltable company are disclosed in the notes to the financial statements. Reserves Policy St Columb's Hall Trust needs reserves in order to rneet its fSnanclal cbllgations the lease and running costs of the hall, the costs of delivering its charitable activities, employing staff and adrnini5tering the charlty. At 31 December 2022, £44,631 of its reser¥es were unrestricted and these are held for three purposes: General funds While every effort Is made to secure funding for, or contrlbutlon towards, core running costs, thls Is not always posslble. In additlon there Is an Inherent rlsk In dellverlng events where an element of costs may be varlable. Reserve funds Given the condltlon of St Columb's Hall, urgent unforeseen remedlal works may arise In the future as well as legal, regulatory and contractual obllgatlons; Designated funds allocating surplus unrestr5cted income towards the cost of planned repalrs and maintenance. The directors / trustees have set a target of malntalnlng unrestrfcted reserves capable of meeting six months of running costs, salaries, admln15trative costs and planned malntenance 05ts. The dlrector / trustees wlll monitor and review the charity'5 flnanclal performance and the reserves pollcy. structure Governance and Management Organlsatlonal Structure The charltable company Is a company limited by guarantee, not havlng a share capltal. The charitable company was established under a Memorandum of Association which establlshed the objects and powers of the charitable company and is governed under its Articles of Association. In accordance wlth the Artlcle5 of As50cSatlon, the members to retlre by rotation shall be those who have been longest In office since thelr last election, and the relevant motion will be put at the Annual General Meeting. A retirlng member shall be ellglble for re-election. Dlrertors The Directors during the year a the same as the Olrertors as Ilsted on page 2. raxation Status The charitable company Is recognlsed as a charity by HM Revenue & Customs. Accordlnglyi the charltable cornpany has avalled of the exemptions contained In Chapter 3 Part 11 Corporatlon Taxes Act 2010 and Section 256 Taxatlon of Chargeable Gains Act 1992. Dlrectors. Responslbllltoes The Dlrectors are responslble for preparlng the financial statements in accordance wSth applicable law and Unlted Klngdom Accounting Standards (Unlted Kingdom Generally Accepted Accounting Prattice). CavanaghKellyi Chartered Accountants & Statutory Audltors Pag¢14
St Columb's Hall Trust blec ar ded3 em Co Company law require5 the Dirertors to prepare financial statements for each financial year which glve a true and falr vlew of the state of the affalrs of the charitable company and of the incoming resources and application of resources, Including the income and expenditure, of the charitable company for that year. In preparing these financial staternents the Directors a reqUId to.. select 5Ultable accounting policies and apply them con5i5tently; observe the methods and principles in the Charities SORP (FRS 102); make judgements and estimates that are reasonable and prudent," state whether applicable UK Accountlng Standards have been followed, subject to any material cleparture5 disclosed and explalned In the financial statements,. and prepare the financlal staternents on the going concern basis unless it is Inappropriate to presume that the charitable company will contlnue in operation, The Dlrectors are re5ponslble for keeping adequate accountlng record5 that dlsclose with reasonable accuracy at any time the financial posltion of the charStable company and enable them to ensure that the financial statements cofflply with the Companie5 Act 2006. They are also responsible for safeguarding the assets of the charltable company and hence for taking reasonable 5feps for the preventlon and detection of fraud and other irregularltie5. Small Companles Exemptlon The above report has been prepared in accordance with the special provislons relating to small Companies within Part 15 of the Companies Act 2006. Auditor The audltor, CavanaghKelly, will be proposed for reappolntment In accordance wlth sectlon 485 of the Companies Act 2006. Thls report was approved by the Board of Directors on 20 June 2023 and slgned on Its behalf by.. R¢g•stered offlce: St Colurnb's Hall Orchard Street Derry Co. Derry BT48 6EB Mr Conal McFe Chairperson, D rector a Trustee an Re istratbon Number: N16 5358 Re Istration Nu ber: 107565 Chari CavanaghKellyi Chartered Accountants & Statutory Auditors Page15