Registration number NI683574
## **Cúram Teoranta**
**Registered Charity Number: NIC109124**
**Trustees' report and financial statements for the period ended 30[th] November 2024**
## **Company information**
Directors and Trustees Niall Ó Catháin Liam Ó Flannagán Joseph O’Doherty Appointed 20[th] February 2025 Aisling Mhic Donaill Appointed 20[th] February 2025 John McCamley Appointed 20[th] February 2025 Colm Seoige Appointed 20[th] February 2025
Key Personnel
Claire Mulholland
Company number NI683574
Charity number NIC109124
Registered office 41-43 Glen Road Maghera Co Derry BT46 5AP
Accountants MKP Accountants Ltd 42A-44A New Row Coleraine BT52 1AF
Bankers HSBC UK 31 Euston Road London NW1 2ST
**Contents**
**Page**
|Trustees Report|**1-4**|
|---|---|
|Independent Examiners' report|**5**|
|Statement of financial activities|**6-7**|
|Balance sheet
|**8**|
|Notes to the financial statements|**9-15**|
## **Cúram Teoranta Trustees’ Report (including Directors’ Report For the year ended 30th November 2024**
The trustees, who also serve as directors of the company for the purposes of the Companies Act, are pleased to present their annual report alongside financial statements of the company for the financial year ending 30th November 2024. The trustees confirm that their annual report and financial statements comply with current statutory requirements, the company’s governing documents, and provisions of the Statement of Recommended Practices applicable to charities.
## **Background**
Cúram Teoranta was incorporated in November 2021, established to promote the health, wellbeing, educational advancement and socio-economic progression of the inhabitants of Maghera and its environs without distinction of age, sex, race, political, religious or other opinion while simultaneously promoting the reinstatement of the indigenous Irish language within the community.
It continues to accomplish this by providing or securing a range of family support services to the Irish-language community, Irish speaking families and families with children who attend Irish-medium Education.
## **Structure, Governance & Trustees**
Cúram Teoranta is registered with the company’s registrar under registration number **NI683574** as a private limited company by guarantee. It is also registered with the **Charity Commission NI 109124** . Its registered office remains at **41 – 43 Glen Road, Maghera, Co Derry, BT46 5AP** . It is controlled by its governing document, a Memorandum and Articles of Association.
The trustees of the charity are as follows:
- Niall Ó Catháin
- Liam Ó Flannagáin
- Joseph O’Doherty
- Colm O Seoige
- Aisling Mhic Dhonaill
- John McCamley
## **Risk Management**
The directors continue to review the risks to which the charity is exposed and have strengthened systems and procedures to mitigate these risks. Key risks considered include financial sustainability, staff recruitment and retention, compliance with safeguarding, and ongoing demand for services exceeding available resources.
## **Charitable Purposes & Objectives**
The organisation strives to address social and economic disadvantage within the Greater Maghera and Mid-Ulster Council Areas by providing a range of family and childcare support services.
**1**
This includes:
- Pre-school childcare and education
- Wraparound care (breakfast, after-schools, and holiday clubs)
- Parenting and family support initiatives
- Development and promotion of Irish-medium services where they are otherwise lacking
Our aim remains to improve the life chances of children and families, while strengthening the use and visibility of the Irish language in everyday life.
## **Achievements and Performance**
During the November 2023–2024 financial year, Cúram Teoranta has:
- **Expanded Childcare Services** : Supported the delivery of additional pre-school and wraparound care sessions, enabling more families to access affordable, high-quality childcare through the medium of Irish.
- **Created Additional Employment and Supported Staff Development** : An additional 10 part-time roles were created to allow delivery of our services, while we continued to facilitate bespoke training opportunities for existing and new staff, with particular emphasis on accredited Irish-medium childcare qualifications. This has strengthened recruitment and retention in a challenging labour market.
- **Promoted Irish-Medium Education (IME)** : Delivered another successful promotional campaign, with refreshed branding and digital content, leading to a further increase in applications for pre-school funded places.
- **Advanced Family Centre Project** : Progressed plans for the redevelopment of the Glen Road site, including preparatory work on funding applications, architectural planning, and stakeholder engagement.
- **Extended Family Support Work** : Facilitated parent and toddler groups, parenting support workshops, and community-based family engagement activities that reduce isolation and build stronger community ties.
## **Public Benefit Statement**
The trustees of Cúram Teoranta confirm that they have had regard to the NI Charity Commission’s public benefit requirement statutory guidelines in all activities undertaken during the year.
**2**
## **Financial Review**
## **Operating Reserves Policy**
The organisation remains committed to maintaining a reserve sufficient to cover **12–18 months operating costs** , targeted at **around £50,000** . This reserve is intended to:
- Ensure continuity of service in the event of unforeseen financial difficulty
- Meet redundancy and contractual obligations if required
- Cover unexpected costs such as equipment replacement or temporary staffing needs
- Maintain stability for beneficiaries, reducing disruption to vulnerable families
We have successfully secured a surplus in the current year. However, in view of the significant annual commitments of our unrestricted funding, it will be continual challenge for trustees to maintain this surplus in future years. The Trustees will therefore remain focussed on maintaining a healthy working surplus of funding.
the financial results of the charity is set out below:
Overall Summary £ Incoming Resources 131,087 Total Resources expended (47,189) _______ Surplus for the year 83,898 **_______**
## **Future Plans**
Looking ahead, Cúram Teoranta intends to:
- Continue to provide administrative and practical support to local naíscoileanna
- Strengthen recruitment and training pipelines to ensure a skilled workforce for Irish-medium childcare provision
- Secure significant capital funding for the redevelopment of the Glen Road site into a Family and Community Centre.
- Extend its family support programmes, with a focus on mental health, wellbeing, and social inclusion for parents and guardians
The trustees remain dedicated to improving the lives of children and families in Maghera and its environs by ensuring that high-quality, culturally rooted childcare and family support services are accessible and sustainable.
## **Tax Liabili�es**
Cúram Teoranta is a registered charity - all of its ac�vi�es are charitable and it does not have any non-charitable trading ac�vi�es.
**3**
## **Statements of Trustees Responsibilities in respect of the Annual Report and the Financial Statements**
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.
- select suitable accounting policies and apply them consistently,
- observe methods and principles of the charities SORP
- state whether applicable UK Accounting Standards have been followed, subject to any material departure disclosed and explained in the financial statements,
- and prepare the financial statements of the going concern basis unless it is appropriate to presume that the company will continue in the business.
they will con�nue to do so during the incoming year.
## **Expression of Gra�tude**
The trustees wish to extend their sincerest thanks to all stakeholders and funders who have supported their endeavours. With con�nued support, we are confident that Cúram Teoranta will expand its vital role and more fully support the families within their reach.
The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Chari�es SORP (FRS 102)
This report was approved by the trustees on 30[th] September 2025 and signed on their behalf by:
## Niall Ó Catháin
Niall Ó Catháin (Oct 7, 2025 16:56:55 GMT+1)
**Niall Ó Catháin Trustee**
**4**
## **Independent Examiner's Report to the Trustees of Curam Teoranta**
I report on the accounts of the charity for the period ended 30[th] November 2024 which are set out on pages 6 to 15.
## **Respective responsibilities of trustees and examiner**
As the charity’s trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity 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 Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act; and
- 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. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also included consideration of any unusual items or disclosures in the accounts and seeking explanations from you as charity trustees concerning any such matters.
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 386 of the Companies Act 2006
2. That the accounts do not accord with those accounting records
3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the 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.
4. That there is further information needed for a proper understanding of the accounts to be reached.
## **Independent examiner's statement**
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.
## Paul McKillop
## Paul McKillop (Oct 7, 2025 21:45:41 GMT+1)
Paul McKillop F.C.C.A MKP Accountants Ltd 42A/44A New Row Coleraine Co Londonderry BT52 1AF
30[th] September 2025
**5**
## **Cúram Teoranta**
**Statement of financial activities (incorporating summary income and expenditure account) for the period ending 30[th] November 2024**
|**Restricted Unrestricted**
**Notes**
**£**
**£**
**Incoming from**
Donations, legacies and gifts
124,500
Grants receivable
**2**
6,587
-
_______
__________
**Total income**
6,587
124,500
_______
_______
**Charitable expenditure**
Charitable activities
Running and operating costs
**4**
4,619
42,570
_______
_______
**Total expenditure**
4,619
42,570
_______
_______
**Net income/(expenditure) before transfers**
Gross transfers between funds
-
-
_______
_______
**Net income/(expenditure) before other gains/(losses)**
1,968
81,930
Fund balances brought forward 1stDec 2023
280,000
1,320
Other gains and losses
-
-
_______
_______
Fund balances carried forward 30thNov 2024
**9**
281,968
83,250
|**Restricted Unrestricted**
**Notes**
**£**
**£**
**Incoming from**
Donations, legacies and gifts
124,500
Grants receivable
**2**
6,587
-
_______
__________
**Total income**
6,587
124,500
_______
_______
**Charitable expenditure**
Charitable activities
Running and operating costs
**4**
4,619
42,570
_______
_______
**Total expenditure**
4,619
42,570
_______
_______
**Net income/(expenditure) before transfers**
Gross transfers between funds
-
-
_______
_______
**Net income/(expenditure) before other gains/(losses)**
1,968
81,930
Fund balances brought forward 1stDec 2023
280,000
1,320
Other gains and losses
-
-
_______
_______
Fund balances carried forward 30thNov 2024
**9**
281,968
83,250
|**Restricted Unrestricted**
**Notes**
**£**
**£**
**Incoming from**
Donations, legacies and gifts
124,500
Grants receivable
**2**
6,587
-
_______
__________
**Total income**
6,587
124,500
_______
_______
**Charitable expenditure**
Charitable activities
Running and operating costs
**4**
4,619
42,570
_______
_______
**Total expenditure**
4,619
42,570
_______
_______
**Net income/(expenditure) before transfers**
Gross transfers between funds
-
-
_______
_______
**Net income/(expenditure) before other gains/(losses)**
1,968
81,930
Fund balances brought forward 1stDec 2023
280,000
1,320
Other gains and losses
-
-
_______
_______
Fund balances carried forward 30thNov 2024
**9**
281,968
83,250
|**2024**
£
124,500
6,587
___________
131,087
_______
47,189
|
_
|
|---|---|---|---|---|
|||||
|
||_______
4,619
_______
-
_______
1,968
280,000
-
_______
281,968
|_______
42,570
_______
-
_______
81,930
1,320
-
_______
83,250
|_______
47,189
_______
-
_______
83,898
281,320
-
_______
365,218
|
|
|||||
|
All amounts relate to continuing operations of the charity.
The charity has no recognised gains or losses other than those included in the results above, and therefore no separate statement of gains and losses has been presented.
## **The notes on pages 9 to 15 form an integral part of these financial statements**
**6**
## **Cúram Teoranta**
## **Statement of financial activities (incorporating summary income and expenditure account) for the period ending 30[th] November 2023**
|**Restricted Unrestricted**
**Notes**
**£**
**£**
**Incoming from**
Donations, legacies and gifts
30,100
Grants receivable
**2**
-
-
_______
__________
**Total income**
-
30,100
_______
_______
**Charitable expenditure**
Charitable activities
Running and operating costs
**4**
-
33,044
_______
_______
**Total expenditure**
-
33,044
_______
_______
**Net income/(expenditure) before transfers**
Gross transfers between funds
-
-
_______
_______
**Net income/(expenditure) before other gains/(losses)**
-
(2,944)
Fund balances brought forward 1stDec 2022
280,000
4,264
Other gains and losses
-
-
_______
_______
Fund balances carried forward 30thNov 2023
**9**
280,000
1,320
|**Restricted Unrestricted**
**Notes**
**£**
**£**
**Incoming from**
Donations, legacies and gifts
30,100
Grants receivable
**2**
-
-
_______
__________
**Total income**
-
30,100
_______
_______
**Charitable expenditure**
Charitable activities
Running and operating costs
**4**
-
33,044
_______
_______
**Total expenditure**
-
33,044
_______
_______
**Net income/(expenditure) before transfers**
Gross transfers between funds
-
-
_______
_______
**Net income/(expenditure) before other gains/(losses)**
-
(2,944)
Fund balances brought forward 1stDec 2022
280,000
4,264
Other gains and losses
-
-
_______
_______
Fund balances carried forward 30thNov 2023
**9**
280,000
1,320
|**Restricted Unrestricted**
**Notes**
**£**
**£**
**Incoming from**
Donations, legacies and gifts
30,100
Grants receivable
**2**
-
-
_______
__________
**Total income**
-
30,100
_______
_______
**Charitable expenditure**
Charitable activities
Running and operating costs
**4**
-
33,044
_______
_______
**Total expenditure**
-
33,044
_______
_______
**Net income/(expenditure) before transfers**
Gross transfers between funds
-
-
_______
_______
**Net income/(expenditure) before other gains/(losses)**
-
(2,944)
Fund balances brought forward 1stDec 2022
280,000
4,264
Other gains and losses
-
-
_______
_______
Fund balances carried forward 30thNov 2023
**9**
280,000
1,320
|**2023**
£
30,100
___________
30,100
_______
33,044
|**2022**
£
5,000
280,000
________
285,000
_______
736
_______
736
_______
-
_______
284,264
-
**-**
_______
284,264
|
|---|---|---|---|---|
||_______
-
_______
-
_______
-
280,000
-
_______
280,000
|_______
33,044
_______
-
_______
(2,944)
4,264
-
_______
1,320
|_______
33,044
_______
-
_______
(2,944)
284,264
-
_______
281,320
||
All amounts relate to continuing operations of the charity.
The charity has no recognised gains or losses other than those included in the results above, and therefore no separate statement of gains and losses has been presented.
## **The notes on pages 9 to 15 form an integral part of these financial statements**
**7**
## **Cúram Teoranta Balance sheet as at 30[th] November 2024**
|**Notes**
**Fixed assets**
Tangible assets
**6**
**Current assets**
Debtors
**7**
Cash at bank and in hand
_______________________________________________
**Creditors: amounts falling**
**due within one year**
**8**
**Net current (liabilities)/assets**
**Total assets less current**
**liabilities**
**Net assets**
**Capital and reserves**
Restricted reserves
**9**
Unrestricted Reserves
**9**
**Shareholders' funds**|**2024**
**£ £**
285,489
70,000
14,895
______________
84,895
5,166
_______
79,729
_______
365,218
_______
365,218
_______
281,968
83,250
_______
365,218
|**2023**
**£**
**£**
280,226
-
7,198
_______
7,198
6,104
_______
1,094
_______
281,320
_______
281,320
_______
280,000
1,320
_______
281,320
|
|---|---|---|
These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
For the period ended 30[th] November 2024 the company was entitled to exemption under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The financial statements were approved and authorised for issue by the Board on 30[th] September 2025 and signed on its behalf by
## Niall Ó Catháin
**Niall Ó Catháin** Niall Ó Catháin (Oct 7, 2025 16:56:55 GMT+1) **Trustee**
## **Registration No. NI683574**
**The notes on pages 9 to 15 form an integral part of these financial statements**
**8**
## **Cúram Teoranta**
## **Notes to the financial statements**
## **for the period ended 30[th] November 2024**
## **1 Accounting policies**
The following accounting policies have been applied consistently in dealing with items, which are considered material in relation to the company accounts.
## **1.1. Basis of preparation**
The financial statements are prepared in accordance with the historic cost convention and comply with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (FRS102), “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities applying FRS 102, and in accordance with the Charities Act (Northern Ireland) 2008 and the Companies Act 2006 and UK Generally Accepted Accounting Practice as it applies from 1 January 2015.
The company has taken advantage of the exemption in FRS1 from the requirement to produce a cashflow statement because it is a small company.
The financial statements are presented in sterling which is the functional currency of the company and rounded to the nearest £ and the trustees have concluded that the financial statements give a true and fair view.
The accounts have been prepared under the historic cost convention. The principal accounting policies adopted are set out below.
## **1.2. Tangible fixed assets and depreciation**
The carrying value of tangible fixed assets are reviewed annually for impairment if events or changes in circumstances indicate the carrying value may not be recoverable.
The charity’s policy is to provide depreciation at rates calculated to write off the cost less residual value of each asset over its expected useful life. Depreciation has not been provided this year as the building has not been completed at the year end.
## **1.3. Incoming resources**
Income is recognised on a receivable basis when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy. The specific bases are as follows:
## **Donations and gifts**
Voluntary income received by way of donations and gifts to the charity is included in full in the Statement of Financial Activities when received.
## **Grants**
Revenue grants are credited to incoming resources on the earlier date of when they are received or when they are receivable, unless they relate to a specified future period, in which case they are deferred. Grants for the purpose of capital expenditure are credited to restricted incoming resources when receivable and released to revenue over the estimated useful life of the relevant assets.
**9**
## **Cúram Teoranta Notes to the financial statements for the period ended 30[th] November 2024**
## **1.4. Resources expended**
All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to headings, they have been allocated to activities on a basis consistent with use of the resources. Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities.
## **Charitable expenditure**
Charitable expenditure comprises direct expenditure including direct staff costs to its activities. Where costs cannot be directly attributed, they have been allocated to activities on a basis consistent with the use of resources.
## **1.5. Debtors**
Debtors are stated after all known bad debts have been written off and specific provision has been made against all debts considered doubtful of collection.
## **1.6. Fund accounting**
The charity has various types of funds for which it is responsible, and which require separate disclosure. Definitions of the various types of funds are as follows.
## **Restricted funds**
Restricted funds are to be used for specified purposes as laid down by the donor. Expenditure which meets these criteria is identified to the fund, together with a fair allocation of overheads and support costs.
## **Unrestricted funds**
Unrestricted funds are donations and other incoming resources received or generated which are expendable at the discretion of the charity in furtherance of its objectives.
**10**
**Cúram Teoranta Notes to the financial statements for the period ended 30[th] November 2024**
## **1.7. Judgements and key sources of estimation uncertainty**
In the application of the charity’s accounting policies, the trustees are required to make judgements (apart from those involving estimates), 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 revision and future period where the revision affects both current and future periods.
## **1.8. Going Concern**
The trustees have considered the effect of the cost of living crisis on the Charity and its ability to meet its working capital requirements. Having considered all matters the Trustees believe that there are no material uncertainties about the charity’s ability to continue.
|**2.**
**Grants receivable**
**Restricted**
**Unrestricted**
**£**
**£**
Mid Ulster Council 1,587 -
Community Foundation 5,000 -
_______
_______
6,587 -
|**Total**
**£**
1,587
5,000
______
6,587
|**2023**
**£**
-
-
_______
-
|
|---|---|---|
## **3. Independent Examiners' remuneration**
**2024 2023 £ £** Accountants' remuneration - examination of the financial statements 400 400 Accountants' remuneration – other services 344 320
**11**
## **Cúram Teoranta**
## **Notes to the financial statements for the period ended 30[th] November 2024**
## **4. Resources expended on charitable activities**
|**Restricted**
**Unrestricted Total**
**£**
**£**
**£**
**Running and operating costs**
Accountancy fees
-
744
744
Bank charges -
63
63
Insurance -
96
96
Employer pension costs -
650
650
Sundry expenses -
1,051
1,051
Wages and salaries 4,619
39,966
44,585
_______
_______ ______
4,619
42,570
47,189
|**2023**
**£**
720
64
86
930
194
31,050
_______
33,044
|
|---|---|
Expenses incurred in 2023 were all unrestricted
## **5. Taxation**
The company has charitable status, and as such is entitled to certain tax exemptions on income and profits from investments, and surpluses on any trading activities carried on in furtherance of the charity's primary objectives, if these profits and surpluses are supplied solely for charitable purposes.
|**6.**|**Tangible fixed assets**|**Land &**||
|---|---|---|---|
|||**Buildings**|**Total**|
|||**£**|**£**|
||**Cost**|||
||Opening Balance at 01 December 2023|280,226|280,226|
||Additions|5,263|-|
|||_______|_______|
||Closing Balance at 30 November 2024|285,489|280,226|
|||||
|||_______|_______|
||**Net book values**|||
||At 01 December 2023|280,226|280,226|
|||||
|||_______|_______|
||At 30 November 2024|285,489|285,489|
|||_______|_______|
The cost of tangible assets (whether acquired or self constructed) comprises of purchase price (after deduction of trade discounts and rebate) and any costs directly attributable to bringing them into working condition for their intended use.
**12**
## **Cúram Teoranta Notes to the financial statements for the year ended 30[th] November 2024**
|**7.**
**Debtors**
**2024**
**2023**
**£**
**£**
Loans to connected parties
70,000 -
_______
_______
70,000 -
_______
_______
**8.**
**Creditors: amounts falling due**
**2024**
**2023**
**within one year**
**£**
**£**
Accruals and deferred income
1,133
3,988
Taxation and social security
4,033 2,116
_______
_______
5,166
6,104
_______
_______
**9.**
**Movement in funds**
**Transfers,**
**Balance**
**Incoming**
**Resources**
**investment**
**Balance**
**1st December 2023 resources**
**expended**
**gains/(losses) 30 November 2024**
**£**
**£**
**£**
**£**
**£**
**Restricted funds**
**Capital Grants**
Department for communities150,000
-
-
-
150,000
CISTE
130,000
-
-
-
130,000
**Revenue Grants**
Community Foundation
-
5,000
3,870
-
1,130
Mid Ulster District Council
-
1,587
749
-
838
_______
______
_______
_______
________
280,000
6,587
4,619
-
281,968
________
_______
_______
_______
________
**Unrestricted funds**
General funds 1,320 124,500 42,570 - 83,250
_______
_______
_______
_______
_______
1,320
124,500 42,570
-
83,250
_______
_______
_______
_______
_______
**Total funds**
281,320
131,087 47,189
-
365,218
|**2024**
**£**
70,000
_______
70,000
|**2023**
**£**
-
_______
-
|
|---|---|---|
**13**
## **Cúram Teoranta Notes to the financial statements for the period ended 30[th] November 2023**
The capital grants were provided toward the cost of purchase of land at 41-43 Glen Road, Maghera. As security for the obligations of the company to repay the financial assistance the funders, Department for Communities, have a legal charge over the freehold property at 41-43 Glen Road, Maghera.
## **Movement in funds (Comparative)**
|||||**Transfers,**|**Transfers,**||||
|---|---|---|---|---|---|---|---|---|
||**Balance**|**Incoming**|**Resources**|**investment**|||**Balance**||
||**1st December 2022**|**resources**|**expended**|**gains/(losses)**||**30**|**November 2023**||
||**£**|**£**|**£**|**£**|||**£**||
|**Restricted funds**|||||||||
|**Capital Grants**|||||||||
|Department for communities150,000||-|-|||-||150,000|
|CISTE|130,000|-|-|||-||130,000|
||_______|______|_______|_______|||________||
||280,000|-|-|||-||280,000|
||________|_______|_______|_______|||________||
|**Unrestricted funds**|||||||||
|General funds|4,264|30,100|33,044|||-||1,320|
||_______|_______|_______||_______|||_______|
||4,264|30,100|33,044|||-||1,320|
||_______|_______|_______|_______||||_______|
|**Total funds**|284,264|30,100|33,044|||-||281,320|
||_______|_______|_______||_______|||_______|
The capital grants were provided toward the cost of purchase of land at 41-43 Glen Road, Maghera. As security for the obligations of the company to repay the financial assistance the funders, Department for Communities, have a legal charge over the freehold property at 41-43 Glen Road, Maghera.
**14**
## **Cúram Teoranta**
## **Notes to the financial statements for the period ended 30[th] November 2024**
## **10. Employees**
## **Number of employees**
The average monthly numbers of employees
excluding trustees, during the year were:
|**10.**
**Employees**
**Number of employees**
The average monthly numbers of employees
excluding trustees, during the year were:|||
|---|---|---|
||**2024**|**2023**|
||**Number**|**Number**|
|Support|2|1|
|**Employment costs**|**2024**|**2023**|
||**£**|**£**|
|Wages and salaries|44,566|31,050|
|Employer National insurance|19|-|
|Employer pension costs|650|930|
No employee received emoluments of more than £60,000 (2023: £60,000)
The company operated a defined contribution pension scheme for its employees. The amount recognised as an expense in the period was £650 (2023: £930). Contributions outstanding at the year-end amount to £407 (2023: £606). The total amount of employee benefits received by key management personnel in the year was £45,216 (2023: £31,980)
## **11. Trustees’ Emoluments**
The trustees neither received nor waived any emoluments during the period.
No out-of-pocket expenses were reimbursed to trustees during the period.
## **12. Related Party Transactions**
During the year the charity made loans to two local community interest companies. An Muileann CIC for £10,000 and to Grass Roots Renewables CIC for £60,000. There were no other related party transactions during the year.
## **13. Charity Information**
Cúram Teoranta is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 41-43 Glen Road, Maghera. BT46 5AP. Cúram Teoranta is a public benefit entity.
**15**
## C213 Curam Teoranta 30.11.2024 FS
Final Audit Report
2025-10-07
Created: 2025-09-30 By: MKP Accountants (office@emaccountants.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAFIKkhH8ZpohIFieCOk3ijwhDFh6fVs0B
## "C213 Curam Teoranta 30.11.2024 FS" History
Document created by MKP Accountants (office@emaccountants.co.uk)
2025-09-30 - 2:13:16 PM GMT
Document emailed to Niall O Cathain (niall@fermacproperties.com) for signature 2025-09-30 - 2:13:21 PM GMT
Email viewed by Niall O Cathain (niall@fermacproperties.com) 2025-10-07 - 3:56:00 PM GMT
Signer Niall O Cathain (niall@fermacproperties.com) entered name at signing as Niall Ó Catháin 2025-10-07 - 3:56:53 PM GMT
Document e-signed by Niall Ó Catháin (niall@fermacproperties.com)
Signature Date: 2025-10-07 - 3:56:55 PM GMT - Time Source: server
Document emailed to Paul McKillop (paul@mkp.accountants) for signature 2025-10-07 - 3:56:57 PM GMT
Email viewed by Paul McKillop (paul@mkp.accountants) 2025-10-07 - 8:44:14 PM GMT
Document e-signed by Paul McKillop (paul@mkp.accountants) Signature Date: 2025-10-07 - 8:45:41 PM GMT - Time Source: server
Agreement completed.
2025-10-07 - 8:45:41 PM GMT