CavanaghKel Company Registration Number: N1665358 Charity Registration Number: 107565 st Columb's Hall Trust (Charitable Company Limited by Guarantee) Annual Report and Audited Financial Statements For the year ended 31 December 2023 *ADCY7NGR* 0311012024 COMPANIES HOUSE A19 #114 CONTENTS For are IDec 23 Page General Information Trustees, and Directors, Report Independent Auditor's Report Statement of Financial Activities statement of Financial Position 9-10 Notes to the Flnancial Statements St Columb's Ch ri all Trust Limi ed GENERAL NFORMATION Board of Directors / Trustees A M Doherty (appointed 14 July 2023) G P Gallagher (resigned 30 August 2023) D N Gavaghan C McFeely H Quigley Registered Office St Columb's Hall Trust Orchard Street Derry Co Derry BT48 6EB Company Registration Number N1665358 Charlty Registratlon Number 107565 Auditors CavanaghKelly Chartered Accountants 36-38 Northland Row Dungannon Co Tyrone BT716AP Bankers AIB (NI) PIC Meadowbank Strand Road Derry Co Derry BT48 7TN Solicitors Edwards and Co 28 Hill Street Belfast 8T1 2LA CavanaghKellyi Chartered Accountants & Statutory Auditors Pagc12 St Columb's Hall Trust haritabl Com Limited b ntee RUSTEE D DIRE TORS. REPORT ear ended 31 Decemb r 20 The Directors, who are the trustees for the purpose of charity law, have pleasure in presenting their report and the audited financial statements of the charitable company for the year ended 31 December 2023. The financial statements have been prepared in accordance with the Statement of Recommended Practice "Accounting and Reporting by Charities" (FRS 102) and the Companies Act 2006. Reference and Admlnlstratlon Details The reference and administration details of the charitable company are as shown on page 2. Objectlves and Actlvltles The principal activity of the charltable company Is to protect and presep4e a key heritage asset, St Columb's Hall, and provide cultural faclllties within the hall. These facilities Include a music venue, meeting and rehearsal spaces and cinema. The charitable company holds a thirty-year lease with the prlvate company who owns the bulldlng. The charitable company's strategic objectives are: l To advance arts, culture and heritage in the City of Londonderry / Derry (the City) by: a) establlshing and managing cultural and social amenities and facilitles. b) organising, promoting and presenting entertainment includlng concerts, performances and events", c) provldlng communlty and arts programmes to meet the needs of the whole comrnunlty. and d) protecting, maintaining, repairing and preseniing St Columb's Hall in the City and other bulldings in the City of architectural and historical interest. 2 To provide facilities in the interests of social welfare for recreation and other leisure time occupation with the object of improving the conditions of Ilfe of members of the publlc; 3 To advance educatlon by the provlsion of trainlng facllltles and In particular in the appreclatlon and practlce of the arts and creatlvlty Includlng music, film, clnema, dance, drama, literature and performing, participatory and visual arts. 4 To advance human rlghts and reconclllatlon through the advancement of peace and good community relations. Publlc Beneflt Statement The Directors of St Columb's Hall Trust confirm that they have complied with their duty under section 4(6) of the Charities Act (Northern Ireland) 2008 to have regard to the Charity Commisslon for Northern Ireland's guidance on publlc benefit and that the public beneflt requirement has informed the activities of the charitable company in the year ended 31 December 2023. Achievements and Performance During 2023, the charitable company secured additional fundlng to carry out repairs to St Columb's Hall and carried out various works. CavanaghKelly, Chartered Accountants & Statutory Auditors Page13 St Columb's Hall Trust haritabl Com Limi Guarantee DIRECT RS. EP or d 31 December 2023 Continued Financial Review Financial Performance The charity earned net outgolng resources of £48,097 in the year ended 31 December 2023 (2022: net incoming resources of £45,869). Principal sources of funding and how this has supported the key objectives of the charitable company are disclosed In the notes to the financial statements. Reserves Policy St Columb's Hall Trust needs reserves in order to meet its financial obligations the lease and running costs of the hall, the costs of delivering its charltable actlvltles, employlng staff and administering the charity. At 31 December 2023, £17,708 (2022: £44,631) of its resenies were unrestricted and these are held for three purposes: General funds While every effort Is made to secure fundlng for, or contributlon towards, core running costs, thls 5s not always possible. In addition there is an Snherent risk In deliverlng events where an element of costs may be variable. Reserve funds Given the condltlon of St Columb's Hall, urgent unforeseen remedlal works may arlse In the future as well as legal, regulatory and contrartual obligations,. Deslgnated funds allocatlng surplus unrestricted income towards the cost of planned repairs and maintenance. The dlrectors / trustees have set a target of maintalnlng unrestrScted reserves capable of meeting six months of running costs, salaries, admlnlstratlve costs and planned maintenance costs. The director / trustees wlll monitor and revlew the charity's financial performance and the resenles policy. Structure, Governance and Management Organlsatlonal Structure The charitable company is a company limited by guarantee, not havlng a share capital. The char5table company was established under a Memorandum of Assoclatlon which established the objects and powers of the charitable company and Is governed under its Articles of Assoclation. In accordance with the Artlcles of Assoclatlon, the members to retire by rotatlon shall be those who have been longest In office since their last election, and the relevant motion will be put at the Annual General Meetlng. A retlrlng member shall be eliglble for re-election. Dlrertors The Directors during the year are the same as the Dlrectors as Ilsted on page 2. Taxation Status The charltable company Is recognised as a charity by HM Revenue & Customs. Accordingly, the charitable company has availed of the exemptions contained in Chapter 3 Part 11 Corporation Taxes Act 2010 and Section 256 Taxation of Chargeable Gains Act 1992. Directors. Responsibilities The Dlrectors are responsible for preparlng the flnancSal statements In accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). CavanaghKelly• Chartered Accountants & Statutory Auditors Page14 st olumb's Hall Trust ble om Limited IRECTO ' REPORT for the ear ended 31 December 023 Conti Company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs 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 statements the Directors are required to: select suitable accounting policies and apply them consistentlyi observe the methods and principles in the Charities SORP (FRS 102). make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any materlal departures dlsclosed and explalned In the flnanclal statements; and prepare the financial statements on the going concern basis unless It is inappropriate to presume that the charitable company will continue in operation. The Directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any tlme the flnanclal posltlon of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. 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 Irregularitles. Small Companles Exemptlon The above report has been prepared in accordance with the speclal provlslons relating to small companies within Part 15 of the Companies Act 2006. Audltor The auditor, CavanaghKellyi wlll be proposed for reappolntment in accordance with section 485 of the Companles Act 2006. This report was approved by the Board of Directors on 10 September 2024 and signed on its behalf by: .-{ M.F..I 7d-%,G0vr￿￿¢Iy2O24 twahV&son, Director and Trustee Reglstered off Ice: st Columb's Hall Orchard Street Derry Co. Derry BT48 6EB Com Chari an Re istration Numb r: N1665358 Re istration Number: 107565 CavanaghKellyi Chartered Accountants & Statutory Auditors Page15 St Columb's Hall Trust Charitabl Com Limi DEPENDENT ea R'S REPORT TO cember 2023 HEDI Oplnion We have audlted the flnanclal statements of St Columb's Hall Trust for the year ended 31 December 2023 which comprise the Statement of Financial Activities, Statement of Financial Position and the ￿ lated notes to the flnancial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 "The Flnancial Reporting Standard applicable In the UK and Republic of Ireland" (United Kingdom Generally Accepted Accounting Practlce). This report is made solely to the charltable company's directors / trustees, as a body. Our audit work has been undertaken so that we might state to the charitable company's dlrectors / trustees those matters we are required to state to them In an audltor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company school and the directors / trustees as a body, for our audlt work, for thls report, or for the opinions we have formed. In our opinion the financial statements: give a true and fair view of the state of the charitable company's affairs as at 31 December 2023 and of its income and expenditure for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice. Basls for oplnlon We condutted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audlt of the financial statements section of our report. We are Independent of the charitable company In accordance with ethical requlrements that are relevant to our audit of the flnancial statements in the UK, Including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. other Informatlon The dlrectors / trustees are responslble for the other Information. The other Information comprises the information included in the Trustee's Report, other than the financial staternents and our Auditor's Report thereon. Our oplnlon on the financial statements does not cover the other Informatlon and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. In connectlon wlth our audlt of the financlal statements, our responslblllty Is to read the other Informatlon and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit. or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are requlred to determine whether there is a material misstatement in the financial statement5 or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information we are required to report that fact. We have nothing to report in this regard. Opinions on other matters In our opinion, based on the work undertaken In the course of the audlt: the information given in the Trustees, Report for the financial year for which the financial statements are prepared Is conslstent wlth the financlal statements; and the Trustees, Report has been prepared in accordance with applicable legal requirements. CavanaghKelly, Chartered Accountants & Statutory Auditors Page16 St Columb's Hall Trus haritab Limi DEPEND or E DIRECT TR TEE 31 December 2023 Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understanding of the charltable company and Its envlronment obtalned in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters if, in our opinion: adequate accounting records have not been kept, or retums adequate for our audit have not been received from branches not visited by us; or the financial statements are not in agreement with the accounting records and returns; or certain disclosures of remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. Responsibilities of Directors / Trustees As explained more fully in the Directors, / Trustees, Responsibilities Statement, the directors / trustees are responslble for the preparation of the financial statements and for being satisfied that they glve a true and falr vlew, and for such internal control as the directors / trustees determine is necessary to enable the preparation of financial staternents that are free from material misstatement, whether due to fraud or error. In preparing the flnanclal statements, the governors are responslble for assesslng the charltable company's ablllty to continue as a golng concern disclosing, as applicable, rnatters related to going concern and uslng the golng concern basls of accountlng unless the dlrectors / trustees elther Intend to liquidate the charltable company or to cease operations or have no realistic alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audlt conducted In accordance wlth ISAS (UK) will always detect a materlal misstatement when It exlsts. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to Influence the economlc decisions of users taken on the basls of these financial statements. A further descrlption of our responsibilltles for the audit of the flnanclal ststements Is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. Thls description forms part of our audltor's report. Mr Ryan alls FCA (Senior Statutory Audltor) Date: For and on behalf of CavanaghKelly Chartered Accountants & Reglstered Audltors 36 - 38 Northland Row Dungannon Co. Tyrone BT71 6AP CavanaghKellyi Chartered Accountants & Statutory Auditors Pag¢17 TE Includi ENT OF FI ome&E endlture Account VnM*trl