The trustees present their report and financial statements for the year ended 31 March 2020.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity's governing document, the Companies Act 2006 and “Accounting and Reporting by 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2019)
The Bloody Sunday Trust is a community based education and history organisation that was established with the aim of exploring the recent troubled history of the City of Derry as a means of enhancing respect and understanding for Human Rights, and promoting mutual understanding through the honest examination of our past, with particular reference to events during the past 30 years.
The objects of the charity as stated in the Memorandum of Association are the advancement of the education of the general public to raise greater awareness and understanding of their heritage and to compile and hold in trust archival materials and artefacts publicly accessible and displayed in the Museum of Free Derry in the advancement of human and civil rights, tolerance and diversity throughout the island of Ireland and internationally.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Our current primary activities are the dignified remembrance of Bloody Sunday on behalf of the Bloody Sunday Families in their quest for truth and justice, and to create a proper legacy for Bloody Sunday and the Civil Rights Era. The charity has established a trading subsidiary, Museum of Free Derry Ltd, to operate the Museum of Free Derry Limited. Bloody Sunday Trust will continue to through exploring further funding opportunities to support the on-going development of the museum.
During the financial year 19/20 the Museum of Free Derry welcomed over 36,000 visitors, maintaining its place as the most-visited paid attraction in the city despite the impact of Covid on the early months of 2020. The Trust and Museum of Free Derry continued to deliver a range of high profile exhibitions, as well as the anniversary events in June and January.
The Trust continued to deliver its conflict transformation work via the Derry Model, which played a significant role in ensuring the Lundy’s Day parade in the city in December 2019 was a peaceful day for all.
During this period the charity consolidated its strategic partnerships, locally, nationally and internationally, with government partners, International Coalition of Sites of Conscience, Hush House (Detroit), Eist (New York), Warrington Peace Centre and the Forum for Cities in Transition (UMass, Boston).
This has helped raise the profile of the Trust and Museum, in line with the aim outlined in the current Strategic Plan 2018-23.
Specific achievements and performance indicators included:
294 participants completed the conflict transformation work, with 40% from the PUL community.
Museum entrance fees increased and extended opening hours at weekends.
Five successful temporary exhibitions, including Free Derry Lives, Battle of the Bogside, Posters Workshop, Lost Childhood and Queering the North, alongside a series of well-attended public meetings, discussions, film shows and lectures.
Re-publishing the well-known book, The Battle of Bogside.
Successful commemorations in June 2019 and January 2020.
Successful funding applications with Department of Foreign Affairs, Derry City and Strabane District Council, The Executive Office and the Forum for Cities in Transition, alongside important preparation work for other applications.
Shared Islands project delivered in partnership with Warrington Peace Centre.
Ongoing liaison with Irish Government in regard to the 50th anniversary of Bloody Sunday.
Meeting interim targets as outlined in the Strategic Plan 2018-23, including those on visitor numbers, income generation, profile, collections care, increased volunteer support etc .
Total income for the year was £474,305, of which £223,550 was funding in respect of the Museum of Free Derry capital build, £ 224,619 was grant funding for educational and conflict resolution programme activities, £20,000 in respect of management charges for administration of Museum of Free Derry and £6,109 was from voluntary donations.
Total expenditure was £459,187, of which £228,405 was in relation to programme delivery and costs associated with charitable activities. Funding passed onto Museum of Free Derry in relation to the capital build and associated legal costs amounted to £232,082.
During the year, the charity transferred £9,495 to unrestricted funds from restricted funds to unrestricted funds representing funding for indirect costs in accordance with funding agreements which has been released and transferred to unrestricted funds,
The balance on total funds at the year-end was £112,084, of which £93,053 were restricted in nature and £19,031 were unrestricted funds .
Settlement of dispute with IDT
The Bloody Sunday Trust and Museum of Free Derry Limited entered into a mediated process in March 2020 in relation to a financial dispute with the Museum of Free Derry capital build integrated design team in respect of professional fees. This company engaged openly in the process and a settlement was agreed in September 2020. The Trust developed a business case for additional monies to cover the settlement and associated mediation costs, which was submitted to the funders involved in the capital build. The Dept for Communities approved funding for the settlement and mediation costs on behalf of the funding partners in February 2021 bringing this matter to a close.
Reserves policy
The Trustees consider it prudent to hold monies in reserve in the event that unforeseen circumstances should lead to financial difficulties which might put the future of its employment capacity, general charitable work and property in jeopardy .
The Trustees have examined the charity’s requirements for reserves in light of the main risks to the organisation and established a formal policy which stipulates that free reserves be maintained at a level which ensures that the charity's core activity could continue during a period of unforeseen difficulty. Free reserves are defined by the Trustees as unrestricted income funds freely available for use as the charity so determines and thereby excludes any funds committed, invested in tangible fixed assets held by the charity and restricted or designated funds.
The Trustees’ policy is that the amount of unrestricted income funds should reflect a minimum of three months’ expenditure plus any additional core costs. Based on 2019/20 expenditure (excluding depreciation and costs related to the capital build) of £ 227,924 the target level of reserves is £ 56,900 .
Unrestricted funds as at 31st March 20 20 are £19,031 of which £17,496 are free reserves. The Trustees continue to strive to build a general level of free reserves in accordance with their policy so that they will be able to continue the current activities of the charity. In the short term, the Trustees have also considered the extent to which existing activities should be curtailed, should circumstances arise.
Risk management
The Trustees are aware of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised through the procedures for authorisation of all transactions and projects. Procedures are periodically reviewed to ensure that they continue to meet the needs of the group. Procedures are in place to ensure compliance with applicable laws and regulations. These procedures are reviewed periodically to ensure that they continue to meet the needs of the charity.
Impact of COVID-19 and plans for the future
Due to the impact of COVID 19, the Government initially imposed restrictions on travel and issued guidance advising the general public to avoid all unessential activities and to practice social distancing and self-isolation. As a result, the Trustees' assessed the financial and operational risks to the charity, taking appropriate action to mitigate the impact of negative outcomes.
The Trust took the decision to cancel all face to face delivery of services and set up all employees remotely from home. These actions were supported by all funders. The Trust has maintained the financial support of SeuPB during this period by delivering the Conflict Resolution project via online workshops to ensure targets continued to be met. The Trust also increased online engagement and presence via all social media platforms to ensure the public profile of the Trust remained high.
The signature project of the Trust is the Museum of Free Derry Limited. As a result of COVID restrcitions, visitor numbers to the museum were greatly reduced and the organisation took the decision to close to the public effective from 16th March 2020. The museum remained closed until July 2020 when restrictions were eased and reopened 3 days per week. The museum was able to trade in line with government guidelines until September 2020, when restrictions were reintroduced and the Directors took the decision to close the museum to the public. The museum has remained closed to date.
As a result of the periods of closure, the Museum 's income from entry fees and merchandise sales is significantly reduced in 2020/21. In order to ensure the sustainability of the organisation, the Trust secured financial support through COVID related grants, including the Retail, Hospitality and Leisure Grant. The organisation also made use of the Coronavirus Job Retention Scheme to maintain employment levels. Additionally, the company secured COVID emergency funding from Dept for Communities Social Enterprise Fund, DCSDC and the Heritage Lottery Fund.
The immediate focus is on planning for re-opening to the public on 27th May 2021, provided restrictions continue to be eased, and protecting the wellbeing of employees and visitors. The Museum has recently launched a virtual tour package and is developing a series of online events to continue to engage with visitor base and enable proper commemoration of key events.
To deal with this in 2021/22 the Trust will:
Develop a series of online events to continue to engage with visitor base and enable proper commemoration of key events.
Create a virtual tour package and upgrade the Museum of Free Derry Website.
Produce a Resilience Plan, Action Plan and Marketing Plan to help address the impact of Covid.
Source external funding during the course of Covid and beyond to ensure the Trust and Museum remain sustainable, including cementing relationships with existing funders and sourcing new funding partners.
Establish an external advisory group with statutory and government departments, local government and community partners to design the programme for the 50th anniversary of Bloody Sunday.
Continue to respond to the Covid situation as it develops, and be ready to take advantage of any easing of the situation that allows return to normal operation.
Maintain employment levels within the organisation and improve on volunteer involvement.
The Trust intends to continue developing both the Museum of Free Derry and The Derry Model as examples of how the city tells the story of our people and our place on an international stage. It also intends to strengthen the position of the museum as a key visitor attraction with economic benefit for the city and region, and will develop a National Civil Rights Archive within the Museum. The Trust will also develop a business case for the Derry Peace and Conflict International hub as a blue print for international visitors to explore the city’s role in legacy and justice issues. This will all be focused towards the delivery of a very significant programme of events as part of the 50th anniversary of Bloody Sunday in 2022, which will be planned under the theme of ‘One World One Struggle’.
On this basis, the Trustees believe the charity is well placed to manage the financial and operational risks associated with COVID-19 despite the current uncertain economic outlook.
The Bloody Sunday Trust is a company limited by guarantee and was incorporated on 14 June 2000. The company was established under a Memorandum of Association which established the objects and powers of the company, and is governed by its Articles of Association. The liability of members is limited in that every member of the company undertakes to contribute an amount not exceeding £1 in the event of the company being wound up.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Recruitment and appointment of Trustees
Under the requirements of the Memorandum and Articles of Association, at each Annual General Meeting, one quarter of the Trustees shall retire from office, determined by those who have been longest serving since their last election. All retiring directors are eligible for re-election.
The Trustees regularly discuss the needs of the current board and identify gaps in knowledge and expertise. Individuals are proposed that could be invited by the Trustees and those agreed are invited to join the board. This process is under ongoing review, and there has been some discussion of setting up a form of publicly proposed/elected mechanism for a percentage of Trustees.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Organisational structure
The Bloody Sunday Trust has a Board of Trustees which meets bi-monthly and are responsible for the strategic direction and policy of the charity. The Trustees are from a variety of professional backgrounds relevant to the work of the charity. During the year, a total of 11 Trustees served on the Board. At the year end the Board was made up of 1 1 Trustees. Subsequent to the year-end one Trustee retired and 5 new Trustees were appointed to the Board . Therefore, at the date of authorisation of the financial statements there were 15 Trustees.
A scheme of delegation is in place and responsibility for the provision of services rests with the Museum Manager, who is responsible for the day to day operational management of the charity.
The trustees, who are also the directors of The Bloody Sunday Trust for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity 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 trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The auditor, Moore (NI) LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
The trustees' r eport was approved by the Board of Trustees.
Opinion
We have audited the financial statements of The Bloody Sunday Trust (the ‘charity’) for the year ended 31 March 2020 which comprise the statement of financial activities, the balance sheet and the notes to the financial 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 Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice) .
In our opinion, the financial statements:
We conducted 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 audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and the provisions available for small entities, in the circumstances set out in note [X] to the financial statements, 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.
the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charity’s ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information 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 required to determine whether there is a material misstatement in the financial statements 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.
In our opinion, based on the work undertaken in the course of our audit:
the information given in the trustees' r eport, which includes the d irectors ' r eport prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the d irectors ' r eport included within the trustees' r eport has been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the d irectors ' r eport included within the trustees' r eport.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns 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
we have not received all the information and explanations we require for our audit; or
the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the trustees' r eport and from the requirement to prepare a s trategic r eport.
As explained more fully in the s tatement of trustees' r esponsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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 audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: http s ://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' 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 and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The Bloody Sunday Trust is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 55 Glenfada Park, Derry, BT48 9DR.
The accounts have been prepared in accordance with the charity's Memorandum and Articles of Association, the Companies Act 2006 and “Accounting and Reporting by 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 (FRS 102)” (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
The financial statements are prepared in sterling , which is the functional currency of the charity. Monetary a mounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
The charitable company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the charitable company as an individual entity and not about its group.
Due to the impact of COVID 19, the Government initially imposed restrictions on travel and issued guidance advising the general public to avoid all unessential activities and to practice social distancing and self-isolation. As a result, the Trustees' assessed the financial and operational risks to the charity, taking appropriate action to mitigate the impact of negative outcomes.
The Trust took the decision to cancel all face to face delivery of services and set up all employees remotely from home. These actions were supported by all funders. The Trust has maintained the financial support of SeuPB during this period by delivering the Conflict Resolution project via online workshops to ensure targets continued to be met. The Trust also increased online engagement and presence via all social media platforms to ensure the public profile of the Trust remained high.
The signature project of the Trust is the Museum of Free Derry Limited. As a result of COVID restrictions, visitor numbers to the museum were greatly reduced and the organisation took the decision to close to the public effective from 16th March 2020. The museum remained closed until July 2020 when restrictions were eased and reopened 3 days per week. The museum was able to trade in line with government guidelines until September 2020, when restrictions were reintroduced and the Directors took the decision to close the museum to the public. The museum has remained closed to date.
As a result of the periods of closure, the Museum's income from entry fees and merchandise sales is significantly reduced in 2020/21. In order to ensure the sustainability of the organisation, the Trust secured financial support through COVID related grants, including the Retail, Hospitality and Leisure Grant. The organisation also made use of the Coronavirus Job Retention Scheme to maintain employment levels. Additionally, the company secured COVID emergency funding from Dept for Communities Social Enterprise Fund, DCSDC and the Heritage Lottery Fund.
The immediate focus is on planning for re-opening to the public on 27th May 2021, provided restrictions continue to be eased, and protecting the wellbeing of employees and visitors. The Museum has recently launched a virtual tour package and is developing a series of online events to continue to engage with visitor base and enable proper commemoration of key events.
To deal with this in 2021/22 the Trust will:
Develop a series of online events to continue to engage with visitor base and enable proper commemoration of key events.
Upgrade the Museum of Free Derry Website.
Produce a Resilience Plan, Action Plan and Marketing Plan to help address the impact of Covid.
Source external funding during the course of Covid and beyond to ensure the Trust and Museum remain sustainable, including cementing relationships with existing funders and sourcing new funding partners.
Establish an external advisory group with statutory and government departments, local government and community partners to design the programme for the 50th anniversary of Bloody Sunday.
Continue to respond to the Covid situation as it develops, and be ready to take advantage of any easing of the situation that allows return to normal operation.
Maintain employment levels within the organisation and improve on volunteer involvement.
The Trust intends to continue developing both the Museum of Free Derry and The Derry Model as examples of how the city tells the story of our people and our place on an international stage. It also intends to strengthen the position of the museum as a key visitor attraction with economic benefit for the city and region, and will develop a National Civil Rights Archive within the Museum. The Trust will also develop a business case for the Derry Peace and Conflict International hub as a blue print for international visitors to explore the city’s role in legacy and justice issues. This will all be focused towards the delivery of a very significant programme of events as part of the 50th anniversary of Bloody Sunday in 2022, which will be planned under the theme of ‘One World One Struggle’.
On this basis, the Trustees believe the charity is well placed to manage the financial and operational risks associated with COVID-19 despite the current uncertain economic outlook. Accordingly, at the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Income from museum activities is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.
Expenditure on charitable activities includes the costs of services undertaken to further the purposes of the charity and their associated support costs. Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/(expenditure) for the year.
Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net income/(expenditure) for the year . Transaction costs are expensed as incurred.
A subsidiary is an entity controlled by the charity. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any ) .
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future p aymen ts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The company is a charity (Charity No NIC100762) and is recognised as such by the Charities Commission Northern Ireland. As a result, there is no liability to taxation on any of its income.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the charity’s accounting policies, the trustees are required to make judgements, 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 period of the revision and future periods where the revision affects both current and future periods.
Grant Funding
Management charge
Event & programme costs
Premises related costs
Office running costs
Other costs
Capital funding to Museum of Free Derry
Trustee's meetings
The average monthly number of employees during the year was:
There were no employees with emoluments of £60,000 or above.
The Department for Communities holds a charge on all the lands situate at 55-61 Glenfada Park, Derry.
During the year ended 31 March 2017, the charity obtained a loan of £50,000 from Ulster Community Investment Trust (UCIT) to provide additional working capital.
The loan has a 10 year term and is repayable at £250 per month for the first 9 months following drawdown, increasing to £601 per month thereafter for the remainder of the loan term. Interest is variable, based on the Bank of England base rate plus 3% or 6% and is charged quarterly in arrears.
The loan has been provided unsecured.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £453 (2019 - £130).
Analysis of restricted funds
Special European Union Programmes Body
Grant funding in respect of salaries and programme costs associated with the Conflict Transformation and Peacebuilding Programme.
Heritage Lottery Fund
Funding in respect of salaries and program me and event costs associated with the Heritage and Programmes Development project.
The Executive Office
Grant funding in respect of salaries and wages and programme and event costs through the NI Schools Outreach Programme awarded from the Central Good Relations Funding Programme to contribute to the promotion of good relations and the building of a united, shared and reconciled community.
Derry City and Strabane District Council (DCSDC) - Cultural Venues Fund
To support general overheads, including utility costs for the Museum of Free Derry.
DCSDC - Heritage Animation & Visitor Servicing Fund
Contribution to wards Museum of Free Derry salaries, cultural programming events and general overhead costs.
DCSDC - Access programme for Cultural Venues Fund
Funding towards the costs of improving disability access to the Museum of Free Derry.
DCSDC - Walls 400 Fund
Funding towards the Free Derry Lives exhibition .
MoFD match funding
Match f unding contributions from the Museum of Free Derry in respect of salaries and program me and event costs associated with the Heritage and Programmes Development project.
Department of Foreign Affiars
Funding towards costs associated with the programme of Bloody Sunday Trust anniversaries and events.
Dept for Communities - Musuem of Free Derry capital build
Capital funding in relation to the redevelopment of the Museum of Free Derry building at Glenfada Park.
Unrestricted
Restricted
Unrestricted
Restricted
Certain grants received and receivable may become repayable to the funder if the charity is no longer able to meet the conditions under which they were awarded. Due to the nature of these contingencies it may not be possible to quantify the potential financial effect or give an indication of the timing as to the liabilities that may arise.
Settlement of dispute with IDT
The Bloody Sunday Trust and Museum of Free Derry Limited entered into a mediated process in March 2020 in relation to a financial dispute with the Museum of Free Derry capital build integrated design team in respect of professional fees. This company engaged openly in the process and a settlement was agreed in September 2020. The Trust developed a business case for additional monies to cover the settlement and associated mediation costs, which was submitted to the funders involved in the capital build. The Dept for Communities approved funding for the settlement and mediation costs on behalf of the funding partners in February 2021 bringing this matter to a close.
The settlement relates to conditions that existed at the reporting date, therefore is classed as an adjusting event. Accordingly, the directors have reflected the settlement and corresponding funding in the financial statements.
Impact of COVID
Due to the impact of COVID 19, the Government initially imposed restrictions on travel and issued guidance advising the general public to avoid all unessential activities and to practice social distancing and self-isolation. As a result, the Trustees' assessed the financial and operational risks to the charity, taking appropriate action to mitigate the impact of negative outcomes. The Trust took the decision to cancel all face to face delivery of services and set up all employees remotely from home. These actions were supported by all funders. The Trust has maintained the financial support of SeuPB during this period by delivering the Conflict Resolution project via online workshops to ensure targets continued to be met. The Trust also increased online engagement and presence via all social media platforms to ensure the public profile of the Trust remained high.
The signature project of the Trust is the Museum of Free Derry Limited. As a result of COVID restrictions, visitor numbers to the museum were greatly reduced and the organisation took the decision to close to the public effective from 16th March 2020. The museum remained closed until July 2020 when restrictions were eased and reopened 3 days per week. The museum was able to trade in line with government guidelines until September 2020, when restrictions were reintroduced and the Directors took the decision to close the museum to the public. The museum has remained closed to date.
The impact of the COVID outbreak relates to conditions that arose after the end of the reporting period, therefore is classed as a non-adjusting event. Accordingly, The financial statements do not reflect any adjustments as a result of the subsequent increase in economic uncertainty.
The remuneration of key management personnel is as follows.
Capital build project
Bloody Sunday Trust is the parent company of Museum of Free Derry Ltd, owning 100% of the issued share capital. Museum of Free Derry Ltd has been established to carry out the construction of the new museum building at Glenfada Park and on completion of the building, carry out the museum trading activities. The total funding awarded to Bloody Sunday Trust in relation to the construction of the museum is £ 2,562,796. T he funders have agreed that this amount can be passed in full by the charity to Museum of Free Derry Ltd .
At the reporting date , included within o ther c reditors at n ote 15 is an amount of £ 261,243 (2019: £37,693) owed by the charity to Museum of Free Derry Ltd in relation to funding not yet received by the charity for the capital expenditure project.
Operation of the Museum of Free Derry
At the year end, the charity owed £1,756 (2019: £829) to Museum of Free Derry Ltd in respect of external funding, transfers and expenses incurred in relation to the operation of the museum. Amounts owed to the charity from Museum of Free Derry are disclosed as amounts owed by subsidiary undertakings at note 13.
There has been a transfer between funds of £9,495 from restricted funds to unrestricted funds representing funding for indirect costs in accordance with funding agreements which is being released and transferred to unrestricted funds.
These financial statements are separate charity financial statements for The Bloody Sunday Trust.
Details of the charity's subsidiaries at 31 March 2020 are as follows:
Investments in subsidiaries are stated at cost.
In common with many businesses of our size and nature we use our auditors to assist with the compilation of the statutory financial statements.