Registered number
02892258
Tyneside Irish Cultural Society Limited
Filleted Accounts
31/03/2022
Tyneside Irish Cultural Society Limited
Company Information
Directors
Anthony Corcoran
Mary Kelly
Liam Haughton
Dr. Sarah Campbell
Accountants
Haydon Accountancy Services Limited
33 Percy Crescent
North Shields
Tyne & Wear
NE29 6HP
Registered office
43-49 Gallowgate
Newcastle upon Tyne
NE1 4SG
Registered number
02892258
Tyneside Irish Cultural Society Limited
Registered number: 02892258
Directors' Report
The directors present their report and accounts for the year ended 31/3/22.
Principal activities
The company's principle activity during the year continued to be that of the supply of Irish cultural events.
Directors
The following persons served as directors during the year:
Anthony Corcoran
Mary Kelly
Liam Haughton
Dr. Sarah Campbell
Barbara Flynn
Small company provisions
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
This report was approved by the board on 18 August 2022 and signed on its behalf.
Anthony Corcoran
Director
Tyneside Irish Cultural Society Limited
Registered number: 02892258
Balance Sheet
as at 31/3/22
Notes 2022 2021
£ £
Fixed assets
Equipment, Fixtures & Fittings 3 3,459 1,154
3,459 1,154
Cash at bank and in hand 43,175 44,822
43,175 44,822
Creditors: amounts falling due within one year 4 (19,683) (9,937)
Net current assets 23,492 34,885
Total assets less current liabilities 26,951 36,039
Creditors: amounts falling due after more than one year 5 (12,758) (14,000)
Net assets 14,193 22,039
Capital and reserves
Brought forward 22040 8564
Profit and loss account (7,849) 13,475
Shareholders' funds 14,191 22,039
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
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 accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Anthony Corcoran
Director
Approved by the board on 18 August 2022
Tyneside Irish Cultural Society Limited
Notes to the Accounts
for the year ended 31/3/22
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Also included are grants of £11,120 from Arts Council, £1,302.51 from Culture Ireland, £2,981.37 from HMRC JRS, and £45,304.67 from Embassy of Ireland (received £52,320, including £6064.67 income in advance from previous year and accruing £13,080 to 22/23).

DEPARTMENT OF FOREIGN AFFAIRS AND TRADE: EMIGRANT SUPPORT PROGRAMME

Department of Foreign Affairs and Trade: The Emigrant Support Programme allocated us grants of £52,320 for the year from 1st July 2021 to 30th June 2022 (£53,270 granted less £950 underspend from previous grant).
The funds for the £52,320 grant were restricted for the following projects - The North East England Heritage and Cultural Development Programme, The Welfare Elderly; Raised on Songs and Stories, North East Irish Network and Resource & Heritage Centre.
Nine months grant income was utilised in the period to 31st March 2022. Three months grant income amounting to £13,080 has been deferred to the 2021-22 year and will be utilised by 30th June 2022.
Grant income amounting to £6,064.67 deferred from 2020-21 has been utilised this year.


The Emigrant Support Programme letter of grant offer is to fund the following:

Offer
NE England Irish Cultural Development Programme £25,500
Resource & Heritage Centre £1,500
N E Irish Network £23,000
Welfare Elderly; Raised on Songs & Stories £3,270

Projects funded by these grants were as follows:

Food Parcels £7,920
Newsletter £9,660
Podcast £726
Classes £2,400
Cultural Development £12,071
Welfare Elderly; Raised on Songs & Stories £1,800
Resource & Heritage Centre £500
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 20%
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
2 Employees 2022 2021
Number Number
Average number of persons employed by the company 4 3
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1st April 2021 6,442
Additions 3,463
At 31st March 2022 9,905
Depreciation
At 1st April 2021 (5,288)
Charge for the year (1,158)
At 31st March 2022 (6,446)
Net book value
At 31st March 2022 3,459
At 31st March 2021 1,154
4 Creditors: amounts falling due within one year 2022 2021
£ £
Other creditors 19,683 9,937
19,683 9,937
5 Creditors: amounts falling due after one year 2022 2021
£ £
Bank loans 12,758 14,000
12,758 14,000
6 Loans 2022 2021
£ £
Creditors include:
Secured bank loans 12,758 14,000
Loans Secured by UK government
7 Other information
The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

The company address is:
43-49 Gallowgate
Newcastle upon Tyne
NE1 4SG
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