ICOMOS Ireland • Board Meeting July 2026

Treasurer’s Report
Year Ended 31 December 2025

Prepared by David Hughes, Treasurer — based on bank-verified figures

€63,041 Total income vs €39,467 in 2024
€55,332 Total expenditure incl. two AMSML events
€7,709 Operating surplus before depreciation
€51,479 Closing bank balance 31 Dec 2025
✓ Bank statements verified — 190 transactions, €0.00 difference

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Context

The 2025 story

2025 was an exceptional year for ICOMOS Ireland — higher income, higher activity, and two significant events that make the numbers look different from any previous year. Here is what happened.

🏛
Two AMSML events in one year

The 2024 Annual Monuments & Sites Memorial Lecture was deferred to January 2025 to accommodate Philippe Villeneuve, the architect who restored Notre-Dame Cathedral. This required a larger venue and simultaneous translation. The regular 2025 AMSML then followed in November. Two events, one year — this will not recur.

€24,115

Combined cost of both events (vs €0 in 2024)

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ICLAFI General Assembly — Dublin host

ICOMOS Ireland provided its banking and Stripe payment infrastructure free of charge to host the ICLAFI General Assembly in September 2025. Hotel rooms were fronted by ICOMOS in advance of delegate payments, creating cash-flow pressure in Q3/Q4. All amounts were recovered by year-end. Net impact on ICOMOS: nil.

Net zero

Passthrough — excluded from P&L

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Department of Housing grants

ICOMOS received two distinct grants from the Department of Housing this year: the annual programme grant of €44,500 (December) and a specific reimbursement of €7,879 for the ICLAFI conference costs, also from the Department. Combined grants income of €52,379 from DoH.

€52,379

DoH grants (up from €31,000 in 2024)

🏭
French Embassy grant

ICOMOS Ireland received a grant of €1,000 from the French Embassy on 14 May 2025. This has been confirmed in the bank statements and is being queried with the accountants, as it does not currently appear in the draft trial balance.

€1,000

To be added to audited accounts

Income breakdown — 2025
DoH annual grant
€44,500
DoH ICLAFI reimbursement
€7,879
Memberships
€9,662
French Embassy
€1,000
Expenditure breakdown — 2025
AMSML (two events)
€24,115
Admin (Niamh + expenses)
€8,074
ICLAFI conference costs
€7,879
Travel / intl engagement
€7,579
ICOMOS membership
€3,552
Audit & other
€4,133

Financial statements

Accounts — three-column view

Three sources side by side: the accountants’ draft trial balance, the Treasurer’s own records, and the bank-verified figures from the six PDF bank statements. The bank column is the ground truth.

Accountants (Xero trial balance) Treasurer’s records (Google Sheet) Bank-verified (6 PDF statements, €0.00 difference)
Year ended 31 December 2025 Accountants Treasurer Bank-verified
Income
Subscriptions / membershipsQ1 €10,896 €8,692 €9,662
DoH annual programme grant €44,500 €44,500 €44,500
DoH ICLAFI reimbursement grant €8,879 * €7,879 €7,879
French Embassy grantmissing from accts — — €1,000
* Accountants combine all grants as €53,379. Bank confirms DoH total €52,379 + French Embassy €1,000 = €53,379, but French Embassy component is not separately identified in the trial balance.
Total income €64,275 €61,072 €63,041
Overhead expenses
AMSML Jan 2025 — 2024 lecture (deferred)Q3 — † €11,850 €11,850
AMSML Nov 2025 — 2025 lectureQ3 — † €7,676 €12,266
Total AMSML (two events)Q3 €3,772 † €19,526 €24,115
† Accountants show only €3,772 under Annual Lecture. Bank confirms €24,115 across 11 payees. The balance (€20,343) appears to have been posted to Admin services — see Q3.
Admin services (Niamh Concannon + expenses)Q3 €29,978 † €9,564 €8,074
International engagement / travel €13,170 €13,170 €7,579 ‡
‡ Bank travel excluding ICLAFI-related advances. ICLAFI costs shown in Schedule 1 below.
ICLAFI conference costsDoH-funded, net zero — — €7,879
ICOMOS international membership €3,552 €3,552 €3,552
Auditors remuneration €3,075 €3,075 €3,086
Bank charges €99 €122 €99
General expensesQ4 €7,016 €3,283 €748
Depreciation (non-cash) €639 €639 —
Total expenses €61,301 €53,980 €55,332
Operating surplus / (deficit) €2,974 €7,092 €7,709
Cash position
Opening balance — 1 Jan 2025 €48,981 ¶ €48,981 ¶ €47,867
¶ Both the accountants and Treasurer’s records use the 2024 net assets figure. The bank cash-only opening is €47,867. The difference (€1,114) = net fixed assets less accruals brought forward.
Net movement for year €2,974 €1,428 €3,612
Closing balance — 31 Dec 2025 €51,955 ** €50,409 €51,479
** Accountants’ figure is net assets (€51,955 = cash + fixed assets − accruals). Bank cash = €51,479 (account 1) + €123 (account 2) = €51,602 total. Immaterial rounding difference of €1.

Flags marked Q1 refer to queries raised with the accountants. Responses pending.

Schedule 1

ICLAFI General Assembly — passthrough

ICOMOS Ireland provided its banking and Stripe payment infrastructure free of charge to facilitate the ICLAFI General Assembly in Dublin, September 2025. This is a passthrough arrangement — all income and expenditure below relates to ICLAFI and does not form part of ICOMOS Ireland’s own profit and loss. Net impact on ICOMOS: nil.

How it worked

Delegates registered and paid via a Stripe portal set up by ICOMOS. Hotel rooms and venues were booked and paid by ICOMOS in advance, before delegate payments arrived. This created significant cash-flow pressure in Q3 2025 when the account balance was low. The Department of Housing separately reimbursed the organisational costs in December.

Why it matters for the accounts

The €11,783 in delegate Stripe income is not ICOMOS income — it belongs to ICLAFI and was offset against the hotel and venue costs ICOMOS fronted. Including it as income (and the associated costs as expenditure) would artificially inflate both sides of the P&L by €11,783 for no net effect. It is therefore shown as a separate schedule below.

ICLAFI 2025 — full account
Receipts
Delegate registrations via Stripe (Sep–Nov 2025)€11,783
DoH ICLAFI reimbursement grant (Dec 2025)€7,879
Total receipts€19,662
Payments
Hotel advance / Mona O’Rourke outlays (Aug 2025)(€9,860)
Artane Audio / Pierce Regan — AV support(€2,839)
Kitchenetta catering(€2,010)
RSAI venue + Dublin Civic Trust(€600)
Satin Drive Ltd(€500)
Stripe processing fees(€202)
Miscellaneous (Henrietta St, other)(€267)
Total payments(€16,278)
Net position at 31 December 2025Nil — settled in full

Note: Kitchenetta invoice balance (€244) to be confirmed with supplier.

Context and disclosure

Notes to the accounts

1Why AMSML costs are approximately six times higher than any previous year
2025 is unique in having two Annual Monuments and Sites Memorial Lectures. The 2024 lecture was deferred to January 2025 to accommodate Philippe Villeneuve, the architect responsible for the restoration of Notre-Dame Cathedral following the 2019 fire — a significant international speaker who required a larger venue and simultaneous translation facilities (combined cost approx. €11,850). The regular 2025 AMSML followed in November at a cost of approx. €12,266. Combined AMSML expenditure for the year is €24,115. This will not recur: from 2026 there will be one AMSML per year as usual.
2Queries raised with the accountants (July 2026)
The Treasurer has identified seven points for clarification with the accountants before audit sign-off, including: the source of €1,234 in subscriptions income not traceable to bank statements; the missing French Embassy grant of €1,000; a significant apparent misclassification of AMSML costs into Admin services (codes 325/351); and unexplained general expenses of €6,268 (code 381). A formal letter has been issued requesting nominal ledger listings for all affected codes. Responses are awaited.
3French Embassy grant — €1,000
A grant of €1,000 was received from the French Embassy on 14 May 2025. This is confirmed in the Bank of Ireland statements but does not appear in the draft trial balance. The accountants have been asked to include this in the audited income under code 071 or a new sub-code.
4Opening balance — net assets vs cash at bank
The accountants use €48,981 as the opening balance, which is the 2024 net assets figure (cash + fixed assets − accruals). The actual bank cash balance on 1 January 2025 was €47,867. The difference of €1,114 represents net fixed assets less accruals carried forward. For a cash flow statement, the bank figure is the appropriate basis. This distinction will be clarified in the audited accounts.
5Fixed assets and depreciation
Fixtures, fittings and equipment are carried at cost (€5,110) less accumulated depreciation of €2,258, giving a net book value of €2,852 at 31 December 2025. Annual depreciation of €639 is a non-cash accounting entry and does not appear in the bank statements. The assets relate to IT and office equipment purchased in prior years.
6Accruals — €2,500
A provision of €2,500 is carried on the balance sheet, unchanged from 2024. The Treasurer has asked the accountants to confirm what this relates to and whether it remains valid at 31 December 2025. Pending their response.