Registered number: 06800285 Charity number.. 1141053
WEARE
NORTHERNPRIDE Northern Pride Events Limited la Company Ilmlted by Buarantee) REPORT AND FINANaAL STATEfvIEpirs FOR THE PERIOD ENDED 31 OCTOBER 2023 Prepared By. F.E. Laughlin Ltd VA JCAccountants 19 Norfolk Street Sunderland SRI IEA Iiiw ADEZJEVI4 01111r2ff24 CCWPANIES HOUSE
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Northern Prkle Events Limited FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 ocfoBER 2023 TRusfEES S Bendelow L Robson R Murr J Owen REGISTERED OFFICE CIO Morthern Stage Barras Bridge Newcastle Upon Tyne NEI 7RH COMPANY NUMBER 06800285 CIIARITY NUMBER 1141053 INOEPENDENT EXAMINER Flona E Ramsey F.E. Laughlln Ltd 19 Norfolk Street Sunderland SRI IEA Page I
Northem Pride Events Limited ACCOUNTS FOR THE PERIOD ENDED 31 ocfoBER 2023 CONTENTS Pages Report ol the Trustee5 Report of the Independent Accountant Statement of Financial Activities Balance Sheet io li Cash Flow Statement Notes to the Accounts 12 13to17 Pa8e 2
Northern Pride Events knmlted TRUSTEES. REPORT FOR THE PERIOD ENDED 31 ocfoBER 2023 Thè. Triistp.p.s present their report arKI the unaudited financial statements for the period ended 31 October 2023 which are also prepared to meet the requirements for a directors. report and accounts for Companie5 Act purpo: . The trurtew. have adopted the provlslons of the Statement of Recommended Practi¢e150RPI °Accountlng and Reportlng by Charltles. In preparlng the annual report and finandal statcments of the charlty. Objedlves and A¢tl¥ttles Objertlvqs and Alms The Trustee5 have paid due regard to guidan i55ued by the Charity Commission in decidiTrg what artivities the Charlty should undertake in order to further the tharitable purposes forthe public benefft. These artivities are summarised below. Northern Pride was fomed in August 2007 after a brief gap in Pride actfvltles following the closure of Pride on the Tyne. A research projert was commissioned and carried out by Ltd to establish what the Northeast LGBTQIA+ communlty would like from a Pride event. results were fed back into the communty in May 2007 and from th5$ feedback a group of volunteers came forward and forrned the first Northern Pride committee. Northern Pride waa Incorporatcd a limltcd company in 21J09 to give the organitIon greater accountablllty and protection and is a registered charity. In 2018 the charty was rebranded. and the new core principle5 were introduced. Protect LGBTQIA+ ri8hts already won and champion these whilst supporting the fight to end equality indifferences that remain at home and abroad. Proinute a healthy body and mind througli aLLVaS tv support and edtIVn fui ilie communlty anLI iiui Sti'ai¥ltt allies. Provide Provide a Series of LG8TQIA+ events including our annual festival to bring comrnunities doser together and celebrate our d5ver51tv. Thc4e core princ1p14 are the foundations to enable Northem Pride to proudly promote Lesbian, Gay, Bisexual, Transgender and Queer plus culture through public olebration of our heritage and engaging in education and cultural artivities that enrich the community vthilst raising awareness of the issues LGBTaiA+ people face, building mutual respert and working to end homophobia, blphobia and transphobia bullylng IHBTI and dlscrimination. As an LGBTQIA+ charltythe alms of Northern Pride are the promotion of equality and diversity forthe public beneflt by al The ellminatlon of discrimlnatlon on the grounds of sexual orlentation, 8ender identlty and expression, and sex characterlstlcs bl Adv4ncin8 education and raising awareness In equality and diver5ty i55uv face by LGBTQIA+ people,. and Page 3
Northern Pride Events Llmlted c) Cultivating a sentlrnent in favour of equality and diversity to create a safe environment where LG8TQIA+ people can promotc and cxplore their Culture and work in the intcrwts of the public benefit to remove any social exclusion. Northern Pride achleve their aims and objective by holdlne *rdriOUS events, workshops, seminars ènd campaigns Iliiuu¥hout the yedi. whith culininate5 in the piide festival iii July. Th¢ liisl vl Ihese yiide (g5tivals was held in July 2008 and was attended by over 2.500 people. The three-day festival now indudes a March through Newcastle cty wlth entertainment, various LGBTQIAI safe zones. infom)ation stalls. and markct stalls across the Town Moor. Newcastlè plus an array of satellite ebtnts the buildup to the festival whith now attracts over 40,000 people. Si8niflcant Actl¥liles and Achlevements After the succes5 of bringing the festival back to an in-person event from digital events during 2020-2021, Northern Pride continued with Its new siOn with the delivery of its two distinctl¥e areas within the festival Site. The Northern Pride Community Village provided festlval attendees access to free entertainment via the Curfous Arts stage. outreach sUPPOrt and access to services in the Family and Youth Zone. The Health and Wellbeing 20ne provided servi¢es including sn screening and Hbv testin& along with sign posting to seThlces across the reglon and UK. The Sports Zone returned, raising awareness of inclusive clubs from across the area and the chance to take part in hands on activities. LGBT+ Northern Social Group a150 woNryded additional support and servlces, paiticularly fur those attending oil iheir owii, or with additional aCL5$ need Due to the nature of this Community Vlllage deliveryi Northern Pride wa5 able to Secure a grant from North of Tyne Comblned Authority {paid by North Tyne5ide Council) to enhance and develop this area further ensuring the sl%iiidiir'd gf piogramming met tlie hlgh siand4iid li(Mii previous Y¥i11S' ¥V¥lItS iirid to meel tlbe exyELtdliuiis vf the attendees. The second area of the Fertival, The Northern Pride Arena was born from the need to diversify income generation after years of decline in key areas. This paid for area of the fertival was providing fvtival attendees the choice to pay a ticket price to see live entertainment on the Main stage and within the Be Scene dance and cabaret tent. along wlth the fair 8r¢)und. The introduction of tlcket pricing was largely wekomed by the attendees and communlty members due to the low-ti¢ket price in comparison to other festivals of simllar size and scale. Upgrade optlorfj were also available for those who wished for a premlum experlence. Whllst the event build was going well, the introdurtion of a new ticket partner brought the opportunity to introduce a new mobile app to improve communication before and during the live event. Tid(et sales show orowth and projertion to generate the incom• r•quii•d. The festival unfortunately was the virtim of adverse weather conditions that resulted In the closure of the event on Sunday and was the root cause behind signfficant decrease in attendan and on the door tlcket sales. The fertlval wa: one of three events across the UK that was hit particularly hard (making national nèwsl, wlth significantly hlgher rainfall than usually experted at that time of year. Thls led to slgnrficant challenges durin8 the delivery of the event and posed Major safety rlsks to staff and attendees. During Saturdavs live event, volunteers and work force teams from production and security worked togetherto ensure that the event was delivered wlth no Issues. Morale remained larcely high with attendees. and many pralsed the team for worklng thelr best under the challenElng clrcumstances to delFver a safe evenL Page 4
Northern Prlde EntS Limited However. after rain continued throughout Saturday day and night, into the early h)urs of Sunday. the team worked to fence off unsafe areas of the festival sitc. until the loss of power to the main stage, and the aecess outside the festival %te became flooded, restricting access to the stte. In the best interest of attendees, festival volunteers and sLiff, all artists and creatives the slte was dosed after 2 hours. Northern Prlde and the teams that support the safe delivery of the event haw been commended by emergencv servlces, Newcastle Oty Council. North of Tyne Combined Authority, key partners and funders, and members of the public for the profes5ionali5m and safe deployment of the'show stop, procedure. Even though the event was cancdled on nday. Satsjrday still saw 15,000 partlclpate In the march and over 21,000 attend the main festival site. Publ1¢ Beneflt We continue to acknowledge that our core purpose is to deliver event-based campaigns for the community and support the growth of LGBTQIA+ community ally5hlp* empathy. artivism and culture. We Continue to see disappointing data induding hate crlme rises, wolence towards the community and rises in mental heah i55ues. Whllst the festival and smaller events that we delivff. are vttal to foster witive. safe and inclusive envirnnments to ensure the community can thrive. we have identthed that the additional way in which to support was to launch our Proud Allles trainlng in partnership with Curious Arts. In our first year we delivered the training to over 1.000 people across 8 countrles and the demand for the train1r has continued with more trainers recrutted in 2024. Volunteers The events, Including those via digital methods. wouldn't be posslble wlthout our fantastlc volunteers who 8lve up their time to 5UPPQrt Us. Thi5 can be as little as being a marth steward on the main day, helplng with. collcrtion4 round thc •cene, arranging fundraising events or a more acti role on the maln commlttee as a co- ordinator or dirertor trustee. Northern Pride events are run by a team of volunteers with help from speclalist consUltts and Service provider5. FINANaAL REVIEW Flnan¢lal posltlon General fund income in the period was E367,681, primarily from grants, event admisslons or fees. donations and sponsorship& Expenditure was £369.343. resultine in a net k)ss of £1,662131 January 2023: net loss £65,330). ReseNes polky At 31 Octobef 2023. reseThes are 431.576131 January 2023-_£29,9141 due to the organisation running as a not- for-prolit or8anisatlon whilst taklng particular care to ensure the tharity achieves in objectives and satisfie5 Its creditor5. Goin8 concem This year Northern Pride had to make decisions to dI51fy income due to t0 key areas of Income decline. Sponsorshlp has reduced slightly over tSme (1 2022-231 and community donations dovm year on year170%1. Pa8e 5
Northern Pride Events Limited We can acknowledge that 5pon50rythip thall•ng8s arè the outcomè of the pandemic and comp•nl•s looklng to realign budgets from lost income during this period. Due to the nature of the current political climate particularly, wc'vc alao cnthurcd that partner: and sponsor5 align with our core value5, meaning often we ttirn rtnwn income and part ways with partners. Cost of living crisis continues for mar)v of our festlrdl attendees, which reduces dlsposable income for tickets and donations. Its essential that Northern Pride I(kS at value for monry for live events and experiences, and reduos reliance on donations, and in4ind support. The trustees acknowlcdge that after a ch311en8ln8 few yèars and changes made to ensiire th.at the Charity continued to deliver for the community and mitigate rlsk, the general consensus 15 that 2023 was on track to deliver a profit for the charlty. Due to the nature of creatlng a ticketed area for the Northem Pride Arena, and the last-minute addltlonal infrastructure needed due the weather. Ifor example track mattlng and covered Strurtures}, we saw an increase in costs. However. the impart of the Cancellation had signiflcant repercussions wlth ticket refundslroll over tickets to 2024. The decreased attendance to the festival reduced on the door tlcket sales which are a vital 5QUfce of incorne to offset the additional costs. Whilst a ne8ative balaTh of only El.662 has been recorded Icornpared to 2022 net1055 £65.330}, without the cancellation of the event due to the adverse weath, the charity would have athieved a healthy balance. Northern Pride has been and continues to be supported by suppliers and contractors that support the charity through the flnancial challenges seen due to the 2023 cancellation and the subsequent impllcations. All payment plans with these suppliers and contractors have concluded and ongoing repayment plan is on track wlth HMRC. The trustees have refiected on festi415 since 2019 and the change5 that have been made tn reducp. risk to the charity at cvery opportunlty. captured in th• Plan5 for the Future. moving the festival into thp ¢ity, away from grass sltes, and using exlsting buildlngs and infrastrurture ensures the ch?rtty can build on the stability and success of 2023. Plans for fvturo pwlods For Northern Prlde to contlnue to ensure it meets it5 mre chartty purpose and goals, it must look at sustalnable solutions to protect the thartty against raising costs and rnitigate delivery against unpredictable weather condltions. After 4 Series of board mectingJ and exploratory work. Northern Prld• announced that the festival would not he held on a gra55 field 5tte and move into the aty centre for 2024. Not only dld the change improve accessibiltty, kyjt by the use of existing buildings and council owned spaces. Northern Prlde was able to 5ignilicantly reduce costs. Elsewhere the partnership wlth an event management company who have licenced access to a kcy area of the dty within the LG8TQIA+ night tlme economic area. the event was able to brfng wlde back to a significant location for local LG8TQIA+ people in the north east, wlth a tlcketed Prlde experlence In the heart of the city. Els¢where all the regular fertival Zones took over spaces across dty, accesslble vla shuttl? bus and with step fr8p accc•4 at all space4. Greys Monvrnent became 3 focal polnt as a pop-up stage ènd mark.et$ 5ts115 consumpd t.hp streets. The event was lar8ely welcomed by the clty. councit. supporters, artlsts, creatives and the tomniunty. To ensure Northern Pride could review their perforn)an. it contrarted an insight research company to complete an evaluatSon. In doing so, Northern Pride was ¥e to understand that the event attracted over 80,000 people and retumed a £4m economic benefit to the dty. Page 6
Northern Prfde Events Limited Th¢ ¢v¢nt was al dcemcd a •uccek due to 70% of attcndces feedin8 b8d( that the 2024 lestlval was 1)cttcr than previou5 year<, wlth confirmln8 they would return next year. Overall perception scores were posltlve, with m05t scoring 8+ out of 10. Funds In deblt The general fund was in debit at the end of the period by £31,576. STRUCTURE, GOVERNANCE AND MANAGEMENr Gov•rnln8 document The charity is controlled by it5 governing document, a deed of trust. and constitutes a limited company• limited bv guarantee, as deflned by the Companies Art 2006. The Dlrector5 of the Company are also Trustees of the tharty. Ellgiblllty for membership of the Charlty and rnembership of the Board of Trustees is governed by the memorandum and articles of assoclatlon. There are no I'¢¥liiLliuns In ilie gvvemlng document on the operntlon of the charlty or on Its Investment powers other that those Imposed by tharfty law. The organloatlon i governed by a Board of Directory, whith cOn"1r of nominatcd membery. The Board Is responslble for the management and control ofthe Charity and oNErall direction ot its work. The Dirertors have the power to c.o-opt ncw DlrectOry• as t out in the Mcmorandum and Artlcle.• of LdOC.iatlon. Inductlon and Tralnln8 of Trust•eS Our HR Dirertor continues to monitor our onboarding process for all volunteers. committee members and Directors. This includes relevant operating procedures, confldentiality agreements and other 8overning documents. Rlsk mana8emert $trnle8y The Tru*te have assessed the rnajor risks to whlth the tharity Is exposed and are satisfied that systems are in place to mltigate exposure to the major risks. The trustees regularly review risks and uncertaintles. To ensure early mitigation of risks the trustees contlnually monitor and review financial status and forward forecasts on a quarterly basis. REFERENCE AND ADMINISTrAnVE DETAILS Charity Name: Northern Pride Events Limited Charity Number.. 1141053 Company Number.. 06800285 Registered Office.. CIO Northern Stage. Barras Bridge, Newcastle Upon Tyne. England, NEI 7RH The Trustees. who are also the Directors forthe purpose of company law, and who served during the period were.. S Bendelow L Robson R Murr J Owen Page 7
Northern Pride Event5 rnited None of the tTLlStees received remuneration or other benefit from their work with the charity. Any connectlon with the charity must be disclosed to the full board of trustees in the same way as any other contractual relatlonshlp wlth a related party- In the current period no such related party transartions were reported. None of the Trustees has any beneficial interest in the company. All of the Trustees are members ofthe company and guarantee to contrlbute £1 in the event of a w1ndir up. Exemptlons from Dls¢losure There are no exemptions from dlsdosure. Funds Held as Curtodlan Trustee on Behaff of Others There are no fund5 held as Custodian Trustee on behalf of others. STATEMENT OF TRUSTEES. RE5PONSIBIUTIES The Trustees. who are also the Directors of Northem Prfde Events knmited for the purpose of company law, are responsible for prePan8 the Trustees, Report and the financial statements in accordance with applicable law and Unlted Klngdom Accounting Standards Iunited Kingdom Generally kcepted Accounting Practice). Company law requlres the Trustees to prepare finandal ststements for each financial period which glve a true and fair view Qf the stste of affairs ot the charity and of the incoming resour and application of resources, Including the income and expenditure, of the charitable company forthat pwiod. Sl•tement 45 to dls¢losure of Infomutlon to the Indepwbdent Kcountant In prepar5n8 these accounts. the Trustees are required to: Select suitable accounting policies and then apply them cons15tently.' Observe the methods and principles in the Charrties SORP; Make judgements and estimated that are reasonable and prudent.. and Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the chadty wlll conttnue in operation. The Trustee5 are responsible for keeping adequate records that discle with reawnable. acr.uracy at any time the financlal posltlon of the charity and enable them to ensure that the finaTrcial statements comply wlth the Companies Art 2006. They are also responsible for safeguarding the assets of the charlty and hence for takln8 reasonable steps for the prevention and detertion of fraud and other iTre8ularitie5. The Trustees are responsible for keeping proper accounting records which disclose wFth Teasonabte accuracy at any time the flnancial PltIOn of the charitable company and to enable them to ensure that the flnancial statements comply with the CompanSes Act 2LN)6. They are also responsible for safeguarding the assets of the charitable company and hence for takin8 reasonable steps for the preNtntion and detertion of fraud and other Irregular6tles. On Behalt of the Board of Trustees Lynne Robson Trustee Dated: Paee 8
Northem Prlde Events Limited INDEPENDENT EXAMINEWS REPORT FOA THE PERIOD ENDED 31 OCTOBER 2023 INDEPENDENT EXAMINERS REPORT TO THE TRUSTEES OF NORTHERN PAID£ EVENT5 LTD I roport thc to the charlty trustees OTr my •x•mlna¢lon ol the accounts of the company lor the perlod ended JI Ortober 2023 whlth are set out on pages 9 to 16. Respectlve Responslbllltles ol trustees eMamln•r As the charity trustees ot the Company land also its dlrectors for the purposes of company law) you are reJpon5ible for thc preparation of the accounts in accordance with the requirements of the Companle5 Act 2006 I'the 2006 ACVI. Hawng satisfied mysew that the accounts of the company are not required to be audited under Part 16 of the 7006 Act and are eliglble for independent examination. I report in reSPt of my examination of your companvs accounts as carried out under section 145 of the Charttles Art 20111.the 2011 Act.). In carrying out my examlnatlon I have followed the &rertions gfven by the Charlty Comrni5sion under section 14515llbl of the 2011 Art. Independent examlner's statement I have completed my examination. I C(riTM that no matters have come to my attention in connection with the examination giving me cause to believe that in any rnaterial respect.. atcountin8 records were not kept 5n respert of the company as Tequired by sertion 386 of the 2006 Act.. or 2. the accounts do not accord with those records; or 3. the accounts do not Comp wth the accounting requirements of sertion 396 of the 2006 Art other than any requirement that the accounts give a 'true and fair Vie which is not a matter ¢onsldered as part ofan independentexamination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Prartice for accounting and reporting by charlties lapplicable to tharities preparing their account5 in accordance wlth the Financial Reporting Standard applicable in the UK and Republic of Irdand IFRS 1021J. I have concerns arKI have come across no ¢>ther matters in connertion with the examinatlon to whith attentlon should be drawn In this report in orderto enable a proper understandlng of the accounts to be reached. Flona Ramsey FCA For and on behalf of F.E. Laughlin Ltd 19 Norfolk Street Sunderland SRI IEA Page 9
Northern Pride Events Limited STATEMENT OF FINANOAL AcrivrriES FOR THE PERIOD ENDED 31 ocfoBER 2023 3VIOI2023 311OU2023 In Donations and legacies Other trading artiwties Tot•1 Incomln8 resources 126,008 241.673 367,681 41.614 241.760 283,374 en Ralsing funds Charitable activities Other 369.343 348.704 Total ExPendIre 369,343 348,704 Net (expendlture)/ [firne and net movement In fvnds for the perfod 11,6621 165,3301 Reconclllallon ot fvnds Totsl Funds brought forward Total funds c•rrled fonward 129.914) 131.5761 35,416 129,9141 This Statement of ftnancial actiwties includes all gains and losses recognlsed In the period. All Income and expenditure has arlsen from contlnulng artivrties and 5s assigned to unrestricted funds In both periods. Thls statement also Includes the Income and expenditure account for the Companies Act 2006. Page 10
Northern Pride Events Limited BALANCE SHEET AS AT 31 ocfoBER 2023 31110123 31101123 Current assets Debtors: Amounts fulling due withln one year Cash at 8ank and in hand io 12,041 6,345 2,157 8,502 18.009 Llabllltles CREDITORS.. Amounts falling due withln one year Net Current assets li (49.5851 138,4161 TOTAL NET ASSETS OR UABIUTIES 131.5761 129,914} The Funds ofthecharfty Unrestrirted income furKIs Total Ch•rlty Funds 12 131.5761 131,5761 129,9141 129,9141 The charitable company is entitled to exemption frorn audit under Sertion477 of the Companies Act 2006 for the period ended 31 Ortobei 2023. The members have not required the charitable cornpany to obtsin an audit of its financial ststements tor the period ended 31 October 2023 In accordan with Section 476 of the Companie5 Act 2006. The trustees acknowledge their responsibilities for: al ensurlng that the tharitable company keeps accounting record5 that comply with Sectlons 386 and 387 of the Companies Act 2006 and b) preparing financial statements whlch give a true and fair view of the stste of the charitable company a5 at the end of each financial period and of its surplus or deficit for each financial perlod In accordance with the requlrements of Sections 394 and 395 and which otherwise comply with the requlrements of the Companies Art 2006 relatin8 to financ¢al ststements. so far as applicable to the charitable companv. These financial statements ha been prepared fn accordance wlth the special provlslons of Part 15 of the Companie5 Act 2006 relating to small charitable companies. The notes on pages Pace 9 to Pa8e 16 forni part of these financial statements. The financlal ststements were approved by the Board of Twstees on 2e1tr24 and signed on their behaff bv: Lynne Robson Trustee Page 11
Northern Pride Event5 Limited CASH FLOW FOR THE PERIOD ENDED 31 ocfoBER 1023 31110123 31101123 Net movement In funds 11,662) (653301 Depreeiation charge Finance costs {5,6811 16.6391 Movement in investment valuations Profit on d15posal of property, plant and equipment 17,3431 171,9691 Movements In worklng upitsl Decrease / Ilncreasel In trade and other receivables (Decreasel I Increase in trade and other payables Cash used In operations Net cash used In operailfig artlvltles Cash flows from Investlng actlvftles Payments to acquire investments Receipts from sale of in¥e5tments Payments to acquire tan8lble fixed assets Recelpts from sale of tsngible fixed assets Net cash provided by investing activitie5 Cash flo from flnancln8 artlvltles Finance charges Net cash outflow from financing (Drfr¢axl/ln¢reas¢ In rash In the p¢rlod Balance at 31 January 2023 Balance at 31 October 2023 15,696) 11,169 5.473 11,870) 1761) 28.366 27,605 144,3641 5,681 6,639 6.639 137.7251 39,882 2,157 5.681 3,811 2.157 5,968 Cash and cash equlvalents consist of Cash in hand Notlce deposit Iless than 3 months) Balance at 31 Ortober 2023 2,157 2,157 5.968 Page 12
Northern Prlde Events Limited NOTES TOTHE ACCOVNTS FOR THE PERIOD ENDED JI OCTOBER 2023 Accountlng Pollcles 8asls of Ac¢ountlTh8 FRS Northern Pride Events Lirnited 15 a company Ilmlted by guarantee in England and is registered In England and Wales. In the event of the charity being wound up. the Itabilty in respect of the Buarantee 5s limrted to El per member of the tharity. The address of the reglstered office is given in the charlty Informatlon on page 3 of these financial statements. The nature of the tharitvs operations and prlnclpal artivities are atven on page ot these financial statements. The charity constitute5 a public benefft entity as defined by FRS 102. The finanaal statements have been prepared in accordance with Accounting and Reportlng by Charitie5: Ststement of Recommended Prartlce applicable to charitie5 preparing their aOuThts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued In October 2019. the Financial Reportln8 Standard appll¢able in the United Kingdom and Republic of Ireland IFRS 1021. the chariti Art 2011. the Companles Act 2006 and UK Generally Accepted Accounting Practi. The finandal statements are prepared on a golng concern basis under the historlcal cost conventlon, modified to Include certain items at falr value. The financial statements are presented in sterling vthich is the functional currency of the charity and rounded to the nearest £. The significant accountlng pollcies applied in the preparation of these financial statements are set out below. These policles have been ¢onsistentty applied to all periods presented Unle otherwise stated. All income Is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it Is probable that the income will be received. and the amount can be measured reliably. The charity receives 8overnment grants. Income from govemment and other grants are recognised at fair value when the charity has entitlement after any perfomiance conditlons have been met, it is probable that the income wlll be received, arKI the amount can be measured reliably. If entitlement15 not met. then these amounts are deferred. Expendlture Liabllltles are recognised as expenditure as 500n as there is a legal or construrtlve obllgation committin8 the charity to that expenditure. It is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been cla5s1fied under headines that aggregate all cost related to that category. Where costs cannot be dlrectly attributed to partlcular headings, they have been allocated to actlvitles on a basis consistent with the use of resour5. Taxatlon The charty is an exempt charity wlthin the meaninE of sthedule 3 of the Charitles Act 2011 and Is consldered to pa5S the tests set out in Paragraph I Schedule 6 Finance Act 2010 and therefore It meets the definition of a charitable company for UK corporation tax purposes. Page 13
Northern Pride Event5 Limited Fund AccountSn8 Unrestrirted funds can be used in accordance with the charitsble objectives at the dlscretion of the trustees. Restrlcted funds can only be used for partlcular restrlcted purposes within the objert5 of the tharity. Restrictions arise when specifted by the donor or when funds are raised for particular restricted purPe5. All funds are unrestrirted. Debtors and treditor5 recelvabWPayable whhln one year Debtors and creditors with no stated interert rate and receivable or payable wtthin one year are recorded at transaction prlce. Any losses asir* from imparent are recognised in expenditure. Pro¥lslons Provisions are recognised when the charity has an obllgation at the balance sheet date a5 3 resu of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estirnated. Ih. Cash at bank and ift hand Cash at bank and in hand includes cash and instant access bank attounts. li. Penslons The charitable company has no emplow and therefore has no penslon eontributlons. Flnancl•l Instruments The charitable company On has financial assets and financial liabilities of a kind that qualify as baslc flnancial Instruments. BasSc financlal instruments are initially recognised at transaction value and subsequently measured at their settlement value. Ik. Preparatlofi of the actounts on a plng Concern basls The charitable company reported netloss of El.662 in the period. The financial statements have been prepared on a going concern bas15 as the trustees believe that no material uncertalnties exist. The trustses have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial ststements. The budgeted income and expendr(ure is sufficient wlth the level of reserves for the charity to be able to continue as a going concern. 11. Operatln8 leases The charitable company has no operatlnB lease5. Im. Donated servlces and facllltles No amountis induded in the financial ststements for volunteer time in line with the 50RP. Further detail is glven In the Trustees, Annual Report. Change in lefih of reportin8 perlod The current period was shortened by 3 month5 and the prior period was extended by two days and so the comparatives are not totally comparable. Page 14
Northern Pride Event5 Limited L DONATIONS AND GAaEs 3y10123 31101123 Donations 2,955 18.000 75.053 30.000 126,008 10.017 1,597 Grants- other Grants- North Tynede Council Grants- Newcastle aty Counal 30.000 41,614 The grant from Newcastle Ctty Council is designated to the operating Costs of the organisation to be spent in full by the Au8USt of each year. 30,000 30,000 3. OThER TrADINfj AcnvmES 31110123 3UOI123 Admlsslon charges Advertising Fundraising eventslproduct sales Funfair Food and bar tender Sponsorships Market stalls Trainin8 76.690 2,330 4,074 7,000 22.500 100.410 15,730 12.939 241,673 68,638 3,725 1,337 7,000 22.850 123.695 14,515 241.760 4. EXPENDITURE ON CHARITABLE AcfMTIES Artlvldes undertaken dlre¢tly 3111012J 31101123 Marquee Hire costs Event perforniers Event seojrlty Waste Artists expenses Cost of merchandise Advertising and promotlnE LGBTQIA+ Refreshments Insurance Commission on sales Support wsts (rte 5) 11.556 163,378 112,680 12,722 93,676 130,019 17,764 650 11,767 5,896 28,067 125 3,810 5,029 5.051 5,533 15.988 616 6,612 4,022 38,878 369,343 44.208 348,704 Page 15
Northem Pride Events Llmited 5. SUPPORT COSTS .31110123 31101123 Governance {note 61 Finance Information technolosy Office costs lincl. rental) HMRC/Co House late fillng penalties Subscriptions Partial exemption VAT cost 23,503 5.681 2.820 3,115 30,054 6,639 1,270 4.396 1,783 66 1,084 2,675 38,878 44,208 6. GOVERNANCE COSTS 3U10123 31101123 Consultanty Independent examinerfs remuneratlon 21,530 1.973 23,503 28.356 1,698 30.054 7. TRUSTEES. RENUMERATION AND BENEFrtS There were no Tru5tee< remuneration or other beneffts forthe period ended 31 October 2023 nor for the period ended 31 January 2023. Trusteu, èxpenses Travelling expenses totallin8 £013V01123: £0) were relmbursed to O Trustee131110123: 0 Trustees). 8. INDEPENDENT EXAMINEWS REMUNERATION FOR The PEKOD The independent examiners remuneration amounts to an independent ey2mination fee of £1,023.75 131101123- £9751. This indudes preparatlon of the financial statements. There are also fees for the preparatlon of VAT retums and corporation tax retums of £94913VOU23 £723). 9. STAFF cosrs The average monthly number of employees durin8 the period was as follows: 3V10123 31101123 Employees No employees recelved emolurnents in exws of £60,¢XIO. Pase 16
Northern Pride Events Limited 10. DEBTORS 31110123 3VOV23 Trade debtors Payment Sn advance VAT 8,944 3,097 5,828 517 12.041 6,345 11. CREDITORS 3V10123 JIIOV23 Trade creditors and accrned c05ts VAT 41,052 8,533 49.585 22,997 15.419 38,416 12. MOVEMENf IN FUNDS At Xl.1.23 Net movement In funds At 31.10.23 Unrestrlrted lunds General fund TOTAL FUNDS 129,9141 129.9141 11,6621 11.6621 131,5761 (31,5761 13. RELATED PARTY DISCLOSURES There was a consultanty agreement in place with lexspark Ltd for the period ended 31 Ortober 2023, £18,000 was spent in the period (Jan 2023 £24.0001- This company is controlled by Richard Murr. Stephen Dunn la former director of Northem Pride Events Ltd) and Rlchard Murr are directors of Lexspark Ltd. This agreement was specifically forthe retsinment of Stephen Dunn and the continuatlon of his work on behalf of Northern Prlde. The decision to retain Stephen Dunn was made without input trom Richard Murr and all decisions In felatlon to Lexspark LTD and Stephen Dunn are conducted without input from Richard Murr. All parties agreed to terminate this agreement due to the financlal pirture of the charity. Support from Stephen Durin remains in place, working in a voluntary basis to ensure the delivery of the charity, continuity with key partners and the continuation of the changes bein8 made to deliver a cityvwide celebration. 14. POST BALANCE 5MEEf EVENT% There are no adjusting post balance sheeL Pa8e 17