Paralympics Ireland

30 | Paralympics Ireland Annual Report | 2019 30 | Paralympics Ireland Financial Statements | 2019 Notes to the financial statements Notes to the financial statements For the financial year ended 31 December 2019 For the financial year ended 31 December 2019 3. 3. Judgments in applying Judgments in applying accounting policies and key sources of estimation uncertainty accounting policies and key sources of estimation uncertainty Preparation of the financial statements requires management to make significant judgments and estimates. Preparation of the financial statements requires management to make significant judgments and estimates. The items in the financial statements where these judgments and estimates have been The items in the financial statements where these judgments and estimates have been made include: made include: Revenue recognition Revenue recognition Determining when to recognise revenues from Sport Ireland, Sport Northern Ireland and other private Determining when to recognise revenues from Sport Ireland, Sport Northern Ireland and other private organisations requires an understanding of the relevant grant and sponsorship agreements. Recognising grant organisations requires an understanding of the relevant grant and sponsorship agreements. Recognising grant and sponsor and sponsorship income also requires significant judgment in determining whether conditions, milestones ip income also requires significant judgment in determining whether conditions, milestones and other terms have been met. and other terms have been met. 4. 4. Analysis of income Analysis of income An analysis of turnover by c An analysis of turnover by class of business is as follows: lass of business is as follows: 2019 2019 2018 2018 € € Sport Sport Ireland grants Ireland grants 1,608,000 1,608,000 1,414,500 1,414,500 Sports NI grants Sports NI grants - 1,369 1,369 Other grants Other grants - 7,464 7,464 Fundraising, donations and sponsorship Fundraising, donations and sponsorship 282,211 282,211 176,838 176,838 Other income Other income 8,407 8,407 11,108 11,108 1,898,618 1,898,618 1,611,279 1,611,279 All turnover arose in All turnover arose in the Republic of Ireland and Northern Ireland. the Republic of Ireland and Northern Ireland. 2019 2019 2018 2018 € € Sport Ireland Sport Ireland - Core Gant Core Gant 400,000 400,000 375,000 375,000 Sport Ireland Sport Ireland - Performance Grant Performance Grant 700,000 700,000 665,000 665,000 Sport Ireland Sport Ireland - Boccia Boccia - 22,500 22,500 Sport Ireland Sport Ireland - Carding Carding 367,000 367,000 352,000 352,000 Sport Ireland Sport Ireland - Tokyo 2020 Grant Tokyo 2020 Grant 123,000 123,000 - Sport Ireland Sport Ireland - Women in Sport Women in Sport 15,000 15,000 - Sport Ireland Sport Ireland - Eflow Grant Eflow Grant 3,000 3,000 - 1,608,000 1,608,000 1,414,500 1,414,500 The Department of Transport, Tourism and Sports is the The Department of Transport, Tourism and Sports is the sponsoring department for all Sport Ireland grant sponsoring department for all Sport Ireland grant income. income.

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