Company RegiBtration No. N1026212
Charity Registration No. XR342261NIC100116
CIRCUSFUL
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

CIRCUSFUL
ANNUAL REPORT AND FINANCIAL STATEMENT8
Tablo of Contonts
FOR T4E YEAR ENDED 31 MARCH 2024
Pag•
Legal and Adminl8lralv• Inforrnallon
Roport ofth• Trusts•$
>14
Ind•p•nd•nt Audltors R8POrt to th• member¥
1&17
Statèment of Flnan¢lal ActivlJ
18
Balanc• Sh••t
1&20
Cash Flow Ststerntnt
21
Notes to tho Flnanrlal Statements
2242
Page I

CIRCUSFUL
ANNUAL REPORT AND FINANCIAL 8TATEMENTS
L•gal and Admlnlslratlv• Informatlon
E Adams
JDaty
G Ersklna
RL￿
A Malone
C Traynor
L Kelly
S Pattarson
IRBslgned 14 Septemb8r 20231
IRe8lgned 10 November 2￿23)
Addr•M lor corr•8pond•nc• 2&25 Gordon Street
Bewast
BT12LG
R•gl8t•r•d Offl¢•
2>25 Gordtsn Strè81
B•Ma81
BT12LG
Audltor
AAB Gfoup Acmuntsnts Llmtted
Chart8rnd Accountant8
1-3 Arthur Street
8eM88t
BT14GA
B•nkq
Unlty TruBt Bank PLC
9 BdThJl•y Pl8c•
Blm)Ingham
B1 2HB
R•gl•t•r•d Charfty No.
R•gl•l•rnd Company No.
NIC100116KXR34226
N1028212
K•y fy14n4g•ffl•nt P•r4onn•l
Jonna Hall
IChl•f Ex¢cuUve Off*er)
P8g8 2

CIRCUSFUL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees are pleased to present their annual report together with th6 audited financial statements
of the charity for the year ending 31 March 2024 which are also prepared to meet the
requirements for a directors, report and accounts for Companie5 Act purpos8S.
The finanoial statements comply with the Charities Act {Nothern Ir8land} 2008, the Companiès Act 2006,
the Memorandum and Articles of Association, and Accounting and Reporting by Charities., Stalement
of Recommended Practice appllcable to charities preparing their accounts in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ir8land (FRS 102) leffectlV8
1 January 2019).
Chalrfs Report
Our purposes and actlvlties
Circusful is the18ading circus arts and street théatre organisation in Northern Ireland
delivering participatory cSrcus, prof&ssional performance. training and profassional development.
Clrcusful is a charity reglslered with HMRC and with the Northem Ireland Charilias Commisslon
whos8 purposes are set out in thé Articles and Memorandum of Associallon 88 follows..
The advancement of education and for the davelopment and promotion of circus drama
and performance skills in Northgrn Ireland.
The provision of management and facilities lor the Ifalnlng of young people and others
who desire lo learn skills in arts. drama, circus and physlcal entertainment without
dlslinctlon of sex, age, colour, political or religious oplnion.
For the advancement of the education of people the org8nisation comes In canlact wlth.
For the provislon of facilities in the Interests of social welfare, for the recreation and
leisure lime of people with the object of improvlng their conditions of life.
Slnce 1985, the charity has been successful in ils ambillon lo work with young people and adults from
all backgrounds across Northern Ireland to deliver life enhancing skllls, designed to Improve thè
resilience and mental and physical w8llbeing of young people and adults. The organlsation
also give5 the opportunity for young people to demonstrate skill development on the local. nalional
and internatlonal stage. These activities are accessible and can be enjoyed, by participanls and
audiences alike irrespective of background.
Durlng the financial year 2023-24, we continued to see the impact of the pandemic and cost-of-living-crisis,
most particularly in the engagement, the behavioural and emollonal responses of the young people
In our classes and how much uncertainty our freelance trainer team are continuing to face.
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CIRCUSFUL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Actlvlty report
Youth and farnlly programme$
Over the year we delivered a rang8 of onllne and in-person workshopsldasses and events for children.
young people and families.
Our in house classes for children (aged 2 years up), young people and adults in Circusful's main
building in Gordon Street, B81fast took place over four tems.
In numbers, between Aprll 2023 and March 2024 we dolivored:
1601ty Bitty classes for over 70 childrèan aged 2-7 years.
• 277 Youth Circus classes for over 160 young people aged 8-25 years.
325 Adult Circus classes for over 140 people aged 18 years plus.
Together thes8 classes offared over 11,200 opportunities for engagement.
We know our prograrnmes inspire young peop18 because they and thelr parents tell us..
"Ho Iovgd his years there, and I w8nt to thank you all from the bottom of my heart. He 1$ the
last of our famlly to leave- th8r8 were 4 of thém there at one point, and they all b8n8fitted so
much. Thank you for eveNhlng.' Parent
"l just wanted to say thank you for the lovely opportunlty H had lo take part In the parade. She
loved all the training on stills and it was amazing to see her beaming as She took part. Such a
super opportunity for her and so nice to see her so happy and thriving., Parent
Comments from participants and trainers also help us to see the importance of our work and the
difference it makes.
"E really stepplng up In aerlal. He has always been too scared to gel on a trapeze. Today he
was really brave and just went for it. So good to sae." Itty Bitty Trainer.
'F had a really good day in terms of paying attention and engaging. Was giving O good
feedback in rola bola and working well spottlng him. This is a real bre8kthrough for him
because he normally doesn't have great awareness of the people around him and Iraditionally
nds spotting others diificull as he needs lo Concentrate on them." Wednesday Youth Circus
Trainer.
"Circus dass 15 rny daughter'5 favourite activity of her week. She enjoys it so much and I love
the confidence it gives her." Parent.
'IMy daughlerl has been coming lo clrcus since she was about 4 or 5. She Is currently in
Glasgow at an intensive 4-week aerial course and is consSd8ring circus andlor ivs
associations as a career. That's how fabulous Circus has beenl. Parent.
We've continued to survey parents and young people about their experience of Circusful and our
classeslevents. Here's what they had to say in 202>24.
720/0 noticed a positive change in their child's attitude to exercise or physical activity.
90Vo noticed a positive change in their child's confidence.
64°h nots'ced a positive change in their child's imagination.
710/0 reported thal their child had made friends through circus.
100 % of parents said that they either agreed (16tr10) or strongly agreed (84%) that they trust the
tutors to keep their child safe at all times.
100Yo of parents said their child's circus class was an important part of their week.
For the first lime in 202&24 we offe￿d Easter Intensive programmes for bolh adults and young
people.
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CIRCUSFUL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Outreachlsocial Clrcuslcommunity Engagement
Sadly. due to reductions In funding, we had lo restructure our out￿aCh Team in Spring 2023. As
result. we moved from a mod81 of having ￿ dedicated outreach team memb8rs to sharing the
responsibility for this work across other team members. In spit8 of this, we deliveréd a range of
brllliant and impaC￿ul proj8cls over the y8ar as a whol8.
In numbers. between April 2023 and March 2024 we:
Delivered around 130 outreach workshops. offering almost 2.500 opportunities for
engagement for up to 800 children and young people.
• We workèd with around 30 partner organisations.
Workshops look pla¢e right across Northem Ireland.. pa￿CUlarlY su¢cessful programmes were our..
RTÉ funded projecls focused on young people with disabilities andlor with experSence of
the care system.
ACNI rural project funding - working with a group in Glenravel.
Natlonwide funded programme Wofking with Action Deaf Youth and Fleming Fulton School
through which we used circus lo build confidence and peer-led supportlleaming.
"My class absolutely loved It! They were so proud of themselves for balancing on the globe, a lot of
my class are very anxious about new things but they couldn't wait to do ILI The trainers were so
encouraging and helpful they were able lo do things I never would have said they would have rlskedl
The same wth the balance b8am. One child in particular will only walk on a bench in PE if 2 adults hold
his hands, with Sarah they were practically skipping 8cros5 the beaml I couldn't belleve how much they
got out of it and the change in the children afterwards. OT, PE, personal development, confidence
were just some of the benefi15 they got...we can't wait for next weekl" Teacher. Harberton Special
School.
Sharing ourwork
Throughout the year we offered young people nineteen opportunitles to perform andlor showcase
their work to public audience andl or their frlends and family. Thesé includ&d Festival of Fools 2023,
our Christmas Cabaret, Sl.Palrick's Day Parade, end of term showcases and much more besides. We
also look partin the Mayhem Festiv81 organised by Galway Community Circus Sch¢)ol and the
Irish Youth Circus Gathertng, which took place in Cloughjordan.
'My sons love their weekly circus c18ss and speoally whèn rehe8rslng for a showl l fftlnk it keeps
Ih8m motiv8t6d to focuslocus and pracllce their skills 8nd gvgn on8 of Ihem is shy . . he w8snl shy
in their showl11 gave them a lot of confidence thanks to their amazing tulorsl We love that Is nol
comp8lilion (Ilke most of sports) and everyone shines with their iJifferent abilities.-
We also offered professional and emerging artists eleven different opportunities to engag6 in
development programmeslprojects including our Rope Meet, Vertical Play, masterclasses and more.
On the 10" June 2023 we hosted a familyfun day lo celebrate Cruinniu nan Og. This fom18d
part of the Circus Explored programme supported by Creative Ireland and ISACS. It formed part of a
much wide programme of activity that look pla￿ over a number of months and included dance
workshops,peer-led circus workshops and much MO￿ b85ides.
Our Adult Circus Cabaret was a great success in November 2023 and we held our first ever young
person led Scratch Night in February 2024. And, in March 2024, Emmen Donnelly created a new
piece 'Tabula Rasa, for the Children's Festival. It wa5 premiered here al Circusful and we hosted a
reception for the festival delegates.
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CIRCUSFUL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
In 2023-24 we also invested in the development of our YouTube channel and soci81 media presence-
where we share and capture both promotional videos and evaluations of our work.
In November 2023 we hosted a Showcase (organised by Fesllval of Fools) where some of our
professional artists performed both new and very established Pl￿e$ of work for an invited audience
of local busin85ses, funders and inv8Stors. It was great lo be able to show off our tslented 18am and
the versatility of our space to a new audience.
Developlng young clrcu8 artlsts and trainers
The Arts Council of Northern Ireland established a grant progr8mme callad the Mike Moloney Award
for young people aged 16- 24 who wanted lo develop their circus practice.The award was in memory
of Mike Moloney, a founder of Belfast Community Circus School Icircusful as now). Applications for
the award had been dwindling, so CSrcusful were asked to take over th8 m8n8gemenl and
administration of it with tha intention of building Interest and awarén8SS.
The process was refreshed and a new iteralSon adv8rtlS8d In summer 2023. Applications were
received and reviewed by a panel Gomprising of Circusful, Stree￿ise, Tumble Circus and In Your
Space Circus. Four young people benefited from awards. On8 used thelr grant to support théir
full-lime training in England, anolh8r used it lo develop their own personal skills and has since
been accepted onlo a full-time course and the other tsvo used the funding lo visit a festival. improve
thèir skills and then organi$ed 8 3cralch night,
In addltion to this, we received funding from Department for Communities to support ￿ young
people (aged 16-24 years) lo gain employability skllls and professional exp8rience. The job
title is Stsrt Up Tralner and Events Assistant. Post holders wlll gain both practical and administrative
skills and knowledge. Our first Job-slart employee Joined the team in March 2024 and our second
will join in June 2024.
D•veloplng our spa¢e
Over the year we invested in the dev8lopment of our space and our physical surroundings, thanks
to funding from the Arts Council of Northem Ireland. The changes we made included..
Bean bags to help the young people, team to relaxlbe comfortable ln-be￿een classes, at
training events etc.
•New curtains lo help us to turn the space into a 'black box'_ helping lo create a broader range
of ways the space can be used.
•Some other small Investments like the purchase of a new kitchen table and chairs etc.
Local and Intsrnatlonal Activlty
Our Chief Executive Officer has continued to be involved in several forums, boards, partnerships
and ne￿orkS during the financial year 2023-24, including but not limited lo..
•Arts Coilaboralion Ne￿rk- Nl wide.
•Calhedral Quarter Trust- Belfast, Nl.
•Belf8St Festival and Events Forum, CowChair- Belfast, Nl.
•Caravan Social Circus Nefv￿rk, Vica President- Intsrnational.
•Th8 Gymn8s1ics and Trampoline Nelwork- Nl.
The above activity has enabled Circusful to continue to develop as an organisation in profile and
quality as it's been able to learn from other organisations working in the same sector and across
culture more generally.
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CIRCUSFUL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
In 2023-24 Circusful was involved in an Imperlal War Museum (IWM) 14-18 NOW Legacy
Fund commission in partnership with U15ter Presents at Ulster University. it was C0-pr￿jUCed by
In Your Space Circus in Derry City and delivered in association with Circusfijl and Inslilut Francais.
This specially commissioned production was led by the globally acclaimed French circus collective
Compagnie XY accompanied by a 50 plus strong local ensemble of musicians, choirs and local
acrobats and took place in August 2023 in the Guildhall Square in DerrrLondondery and
culminated in the World Prernie￿ of Afterthe Rain.
After the Rain was Inspired by the people and communities of the city in sustaining 25 years of
peacevbuilding slnce the 1998 Good Friday Agreement. After the Rain explored physical and
spiritual resilience in the face of obstacles through a mass collective acrobatic act of Irfting
each other up. It is Compagnie Xy's first ever work produced on the Island of Ire18nd and is
one of only new works produced by this 4Ckstrong collective of acrobats. The other for the
Paris 2024 Otympic and Paralympic Games.
The internalional work wlth Caravan has been partlcularfy beneficial, not only to increase the
interest, eX￿rienCeS and awareness of Circusful's work bul also to ensure Nl based trainers
a￿ 8ble to access high quallly learning and development opportunities, such as a course to support
trainers to develop their pedagogy skills when working on social circus progrmmes. Br8xil
has Impacted on the ease wlth vlhich our tralner can partlclp818 in these programmes, despite that
the team work hard to share resourc88, documentation and Inslghl Into the programmes.
We also SUPPOrted kn emerglng artists lo engage in the Boost Programmé. organised by
Dublin Circus Project.
One of the team secured a Belfast City Council Scholarship place at the One Young World
Summit that took place In Belf8St in October 2023. Over four day5, Anna attended talks on the
food crlsls,educatian. climate emergency, peace and ￿Concl11ation and mental health. She also
taok part in action sessions, workshops and met so many inspirational, young leaders from all
over the worldl
In a typlcal year, Clrcusful meanlngfully engages volunteers to ensure we fulfll the misslon and
vlslon of the organis8tion. As an organisalion wa 8ppreciate and valu8 the vital support of
our volunteers lo underpin many of our activities. We will contlnue to provide opportuniti8s
for our volunteers lo be involved where we can.
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CIRCUSFUL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Governanc•
Circusful's Articles of Association are its govgming document. The Arbcles were updated in 2021
in keeping with the name change of the organisalion. The document states thal Ihe Charity's objects
are lo:.
1)
Advanc8 the arts and culture in Northem Ireland and 8Is8wher8 and in partlcular to promote..
111 circus and street theatre as art forms by organising. promoting and presenting cultural, arts and
leisu￿ aclivilies. events, perfomiances and festivals;
lil) access to circus arts..
liill cultural lourlsm and Inlemallonal arts and culture exchange programmes and events.
21
Promot& education and training by providing..
(i} training in the arts. crafts and skills of circus and 81re&l thèatre.,
1111 vocational training and employment opportunllles in clr¢us and street th8alre arts.
31
Advancè publlc knowlédge and understanding of clr¢u$ and street Ihe91re arts by the
domonstralion of skills in artistic performan¢•.
41
Advance community d8velopm8nl by engaging with and 8SSlSting voluntary & community groups
and organi881ion5 to organi88 and participat8 in Cultural, arts and leisure projects and iniliatlveB.
51
PrO￿de Ir8lnlng in Glrcus skllls and other recreallonal activities. particularly for young people..
li) in the Interests of social welfare with th6 object of improving the conditions of life of persons who
by Trason of thèir exclusion. social or economlc ¢irGumslance8 or other disadvantage have need
of such facilities; andlor
lill to develop Ihelr skills, capacltl8s and capabllitles lo enable them to particlpa18 In socS8ty as
ndepéndenl, maturè and responsible indlvlduals.
61
Promote good Community r8lallons, social coheslon, religious and racl81 harmony and equallty
and dlverslty.
A$ 8 Board, we have continued lo provide govemance and slrateglc dlrection to the organls8tion
and offer support when dlfficullles 8ri5e. We conllnug to pay tribute lo our staff and voluntgers
as well a8 our supporters for their conlrtbution lo the organi5allon as we contlnue lo grow.
develop and promote the art and $kills of social clrcus.
Sadly, we said goodbye to Board members, Edward Adams and Julie Daly, in Autumn 2023.
Both had shown huge commllment to the charfty over the years, as trustees and as circus parents.
For sever81 years, Ed had been c4￿u8￿1,$ Secretary. Ed's experiences a5 a circus parent,
his professional career as an educator and his care and passion for the work we do combine
to mean his contribution was immeasurable.
Julie, a trained accountant and HR professional, was generous with her expertise and support for
the team. Also a circus parent she was supportive of the challenges we faced and committed
to working with the team and partnets to identify solutions.
80th will r&main an important part of our history and our on4Joing story.
Pag8 8

CIRCUSFUL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Following their resignations the remaining Board made the decision to bring forward the recruitment drive
planned for Spring 2024. The CEO was tasked with working wth Arts and Business Nl to secure UP to four
new Board MeMbers￿rUStees by February 2024. Unfortunately no suitable candidates were identified within
this timeframe. A second r8cruilment campaign took place durlng Spring and Summer 2024.
COVID 19
Covid19 dir8Ctly impacted on our services throughout 2020-22, and to som8 8Xt8nt continues to do so even
now. As per th8 'going concern, st8t8ment below, w8 can already see how Circusful is now well posilioned to
come back slrong8r.
During and b8yond the pand8mic our community of supporters have beén incredibly gen8rous In glvlng thèir
tlme, emotional support and much needed financial supporL
Golng concern
It 18 the Trustees, vlew that these financlal statements are prepared on the going conc8rn basis.
Structure Governance and Management
Appolntmont of Truste88
In 2023-24, as mentioned above, Circusful accepted the reslgnalion of two Board members and started the
process of recruiting up lo four new trustees. The Board currently comprises of a balance of parents and
professionals and our newest members Irecruiled in 202LL211 are beginning to play central and
important roles on the Board, with one becoming Chalr.
Trustee8 Inductlon and Tralnlng
The organisation inv8sts in Induction and Iralning and In 2022-23 several Board members attended relevant
courses and events and shared their learning. On appolnlment. each trustee's training r8quir8ments are
assessed.
We continu811y review the neads oflh8 Board and offer to support them lo att8nd training and developm6nt
courses as needed.
Each are notified of and offered th& chanoe to attend courses offered by NICVA, Volunteer Now, Arts &
Business and a rang8 of other sector support organisallons.
A full training and Induction plan will be put In placa for the new memb&rs in 2024-25. A strategy day also
occurred on 9 June 2024.
As needed, the whole Board p8rticlpale In and benefil from a full safeguardlng revl8w course. This is
delivered by Ciaran Traynor, a member of th8 Board.
Organlsatlonal Structure
The organisation in 2022123 is run and managed on a day-to-day basis by th8 Chief Executlv8 Officer
who joined the organisation in late November 2018. The CEO has operallonal and strategic powers
devolved from the Board of Trustees and these are ￿VieWed as needed. She receives advice & guidance
from an extemal organsiation specialising in Human Resources Managernenl.
The CEO has overall line m8nagemenl responsibility for the staffing of the organisalion and In 2023-24 15
supported by the Programrnes and Development Director the Head of Programmes, Pathways and
Participation.
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CIRCUSFUL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Pay Policy
Remuneration across the organisatlon is aligned with sector pay agreements and based on NJC scales.
Pay increases if appropriate are brought lo the Board of Trustees for approval. When changes are made to
the National ￿VIng Wage these are passed onlo the relevant staff in a timely manner.
There are no ramunerated Trustee positions and Ihey give their lime freely.
Risk Reglster
Circusful has a stringent Risk Register whl¢h outlines the key rlsks to the organisation and the speciflc
actions detailed to mitigate those risks.
The main categorises of risk identified are: Govornance, Operational, Flnan¢lal. Envlronmgnt and
Extornal and Compllance.
The risk register is revlewed and discussed at each Board meellng and if additional risks have béén identified
they are added at that point and mits'gations brought into place immediately after.
The Risk Register is underpinned by the Risk Assessments wg complete for all classes and activltles.
The Risk Register h85 been completely reviewed in Q4 of 2023-24 and was adopted al a Board meetlng
in April 2024. Safeguarding and Accident Reports are a standing item al each Board megting.
In 2021-22 a new Audlt and Rlsk Sub-committoe was formed wilh three members of the Board and the
CEO I Programme8 and Dev8lopment Director attending as appropriate. It continued to meet in 2023-24
as needed.
Flnanclal Revlew
The gross annual income for Clrcusful in 2023-24 was £543,762, this is £14,932 lower than in 2022-23. The
prlmary reason for thls difference is that in the prior year the charity received funding for a new. replacement
vehicle.
Over the year 2023-24, C[￿u$fUl secured income from a range of sources,8 breakdown of whith is below.
Income generatlon
Income for 2023-24 can be broken down as follows:
280/0 Grant income Inon-public Sector)
37% Income from publlc sector
300A Eamed incom8
3% Capitsl funding
20/r* Other income (Donatlons, interest)
The Income from parents and p8rticipants towards the cost of classes is a significant incomo stream and,
in a typical year. the proceeds from Premiere Circus are used to support core cosls throughout the year.
We a￿ increasingly working to deepen and broaden our range of funders and supporters 8nd in 2023-24
were successful in starting some new relationships.
Net movement In funds
In 202>24 the nel movement in funds was £19,686 compared to a previous year total of £41.664.
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CIRCUSFUL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Prfcing Pollcy
As an organisalion we are concerned to have an equitable and fair priclng pollcy for se￿[Ce9 which allows
for participation by Ih05e who maybe struggling with finarrce l gconomically, whi15t ensuring the viability of
the organi5alion. Our pricing policy is reviewed regularly and ag￿ed by the Board of Trustee5.
Where appropriate a lower conlrlbulion Is suggested lo some families wllh particulady hlgh levels of
economlc disadvantage, partlcularfy if more than one child attends classes.
Slnce the pandemlc began. wa have been consulting parents on the price of classes and Ihelr ability to pay
and we have extended this work to conslder the cosl-of-livlng crisis, invlling those who can to donate rather
than increase class fees for all.
We have not Increased prices In 202&24 and have contlnued lo offgr rehearsals and addillonal actlvitias free
of charge wher8ver possible. This helps to promote accessibility and inclusivlly.
Re88ni•s
In 2021-22 the Board approved a new ￿serveS pollcy which Is ava118ble on requ&st and has been re￿•Wed
each year.
The pollcy slates..
"It Is the oplnion of the Board of Trustees that Clrcusful should aim to malntaln betsveen 3 and 6 months of
unrestricted cash funds. It Is the Board's oplnion that this lèvel of unreslrlcled funds Is needed lo help
mits'gale some of the major rlsks faclng the charlty In 2022.
The Board have agreed that restricted funds, reserve funds & capital ass6is will not contribute to the agreed
target of 3-6 months unreslrfcted funds a8 they cannot be treated as cash & accessed on an immedlale
ba518. Ther8for8, unre9trlcled reserveg. restricted & capllal fvnds ￿11 be recorded and monllored separately.
The Board of Trustees nol8 that in 2020 the bulldlng was r&valued whlch saw a conslderable increa98
added lo the balance sheet In 2019-20.
Therefore. Clrcusful is 8Ctlvely worknng towards genersllng 3 months unreslrlcted G8sh funds, 88 a mlnlmum
wllh a more ideal position In the reglon of 6 months.
11 is recognlsed..
This Is difflcull in the face of the economlc challenges th8t face thè voluntary sector and partS¢ularly glven
the pandemic.
. The prgsgnt level of d8signaled unrestricted reserves therefore fa115 short of the target level. Thè strategy
is to wnlinue to build reserves through operating surpluses..
The policy is reviewed annually. We belleve we will be able lo add to the reseNes position in 2024-25.
How the reserveg wlll be used
Unrestrlcted Funds: Unrestricted funds a￿ needed lo meet th8 working capital and general funds
requirements of the charity. For Circusful thèse include some delivery of services. some staff salarieslholiday
payments & some ovethead costs should there be an unforeseen drop in income or increase in expenditure.
The 8oard of TrLrstees are confident that al between 3-6 months will enable the charity to continua its current
activities until altemalive funding resources are found or other decisions implemented.
Reserve Funds: Will be used to cover legal costs, statutory payments and other regulatorynegal costs.
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REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Restricted funds: Can only be used to deliver tha $ervicesloutcom6s d8scribed and as such
such may be returned to the funder unloss an alternative use can be agre6d
Capital assotslfunds: Assets connected to the building will be treated in keeping with Ihe
lease agr8ement. other capitsl assets wll be treated in keeping with the funders, requirements.
Steps taken to establlsh the level of resarve
The Board of Trustees arrived at the identified res8rves target5 & categories as a r8suIt of examining
other charities of simllar sizeslfocu5 and following an update of the risk register in Winter 2021.
The pandemic impacted on the charity's income and expenditure levels.
Now some s18bility has been re-found, the reserveg policy wlll be fully reviewed in 2024-25.
Review of currenl and previous years fundj
The following table sets out Clr¢usful's funds for 2019 through to 202&24
2019-20
2020-21
2021-22
2022-23
2023-24
6 months based on
19-20
Unrostrlcted
funds
Reserve
funds
Restrldod
funds
Capltal
funds
Total funds
£88.131
£124.949
£150,250
£179,603
£220.847
£273,468.50
£125,389
£122,882
£120,374
£117,866
£115,359
£22,553
£53,340
£34,412
£57,795
£47,308
6 months based on
23-24
£232,845
£221,282
£212.718
£204,154
£195.590
£262,038
£468,918
£522,453
£517.754
£559,418
£579,104
Monitorfng and révlowlng th• r•$èrves pollcy
The TreasU￿r will work wilh the CEO and Financo and Risk Committee lo..
provide a financial report to the charity trustees al each Iru51ee meeting.
provide an update on the level of reserves to the charity trustees on 8 quarterly basis.
set out what reserves are in the current year and previous year and, If appropriate, what the
trustees aim to add io reserves for the current year.
During a meeting of the BoardlFinance and Risk Committee.. If there is a shortfall or a significant
increase in the reserves, the reasons for this change will be recorded in the minutes of the meeting.
The charity trustees will also record any sleps Ihay intend to take to address the issues Ihat have led
to this change.
Page 12

CIRCUSFUL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Expèndtture
Total expenditure in 2023-24 was £524.076 compared to the prior year of £517.030.
The expenditure across the year was detemiined in the first instanc8 by the need to remain stable and to
8nsure a solid foundation from which to build over the year.
On an ongoing basis. decisions regarding regular spending ara Sn Iln6 with finance pollci6s and procedures
establlshed by Circusful. As the year went on. all out-of-budget expenditure was checked with an
appfoprlalo m8mber of tha Board b8foro being cornmStted.
Moro generally, exponditur8 across Oach activity araa 1$ r8vi8wed on an ongolng basis by budget holdèrs
and issuas of viabillly of aclivlty is brought to thè 8oard's attenllon.
Detailed day-lo-day managemenl by budget holders & 8nalysls of variance reports endeavour ensure
viability without compromising on excellence of delivery. The introduction of Xero over the past couple of
years has helped the team lo manage the reports and understand cashflow mor8 easlly.
Futur• plannlng
Our strategic plan12021-25) has continued 10 Set the direction for 2023-24 & wlll continue lo do so for 2024-
25. We heve also slgned off three new strategic aimslpriorilies for 2024-28. Work Iow8rds these
commenced in earnest in April 2024.
Our commitment lo building even 51rongar partnerships locally, nallonally & Inlemationally is stronger than
8￿r. However, the funding environment remains challenging for both revenue and capllal income and with
the ongoing and uncertain nature of the economy and polillcal landscape both locally and globally we are
anticSpaling ongoing challenges for another few years.
We wlll contlnue to work across the sector with all arts organisatlons lo ensure th81 the arts In Northern
Ireland can continu& to bulld and dèvelop and assume its rlghtful and Important place In the cultural and
creative a8pects of the lives of our communities.
Page 13

CIRCUSFUL
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
STATEMENT OF TRUSTEES RESPONSIBILITIES
The Tmstees, who are also th8 directors of Circu5ful for the purposes of company law,
ere r8sponsible for preparing the Trustees, Report and the financial statements in accordanc8 wlth
applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accep18d
Accounts Practice).
Company Law required the trustees to prepare financial slalements for each financial year which
give a true and fair view of the state of affairs of the charity and of the incomlng resources and
application of resources. including the incom8 and expenditure, of the charitable company for
that year.
In preparing these financial statements. the trustees are requlred to..
salecl suitable accounting policies and th8n apply them consSstenlly,
- obs8rve the methods and prlncSples in the Charities SORP;
make judgements and estlmates that are reasonabl8 and prudent.,
state whether applicable UK Accounting Standards havè been followed, subject to any
material departures dlsclosed and explained in the financial ststements- and
pr&pare the financial statem8nls on the going concem basis unless it is inapproprlate to
presume that the charity will conllnue in operation.
The trustees are responsible for keeplng adequate accountlng records that disclose wlth reasonable
accuracy al any time the financial position of the charity and enable them lo ensure that the
flnancial statements comply with the Companies Acl 2006. They are responsible for safegu8rding
lh8 a$$ets of the ch8rity and hence for taking reasonable steps for the prevention and detection of
fraud and other Irregularities.
Dl8¢losure of Informatlon to Audltor
Each of the Iruslees has confirmed that there is no Infomation of which they are aware which is re18vant to
the audit, but of which the audltor is unaware. They hav8 further confirmed that they have taken appropriate
steps to id6ntify such relevant information to establish that the auditor is aware of such information.
Registered office:
23-25 Gordon Street
Belfasl
BT12LG
Signed on be
alf of trustees..
Laura Kell
(Chairperson)
Page 14

CIRCUSFUL
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Oplnlon
We have audited the financlal statements of Circusful (the 'chariWI for the year ended 31 March
2024 which comprise the statement of financi81 acb'vities. the balance sheet, the slalemenl of
cash flows and the notes lo 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 Acc8Pted Accounting Practice).
In our opinion. the financial statements=
give a true and fair view of the slate of Ihe charitable companls affairs as al 31 March 2024
and of ils incoming resources and application of resources for the yaar then ended,.
have been properly pr8pared in accordance with United Kingdom Generally Accepted Accounting
Pracllce-. and
have been prepared in accordance wllh the Companies Act 2006,
Bas1• for Oplnion
We conducted our audit in accordence with International Standards on Auditing {UK) IISAS IUK))
and appllcable law. Our responsibilities under those standards are further d8scribed in the Audilorfs
responsibilities for the audit of the account5 secllon of our report. We are indepandenl of the charity
in accordance with the ethical requlrements that are relevant to our audit of the accounts in the
UK, including the FRCs Ethical Standard. and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evldence we have obtained is
sufficlenl and 8ppropriate to provide a basis for our oplnlon.
Concluslons relating to golng concem
In auditing the financial slatemenls, we hav8 concluded that th8 Irust885' Use of th9 golng concom
basis of accounting in the preparation of the financi81 statements is appropiate.
Based on the work we have performed, we hav8 not identlfled any material uncertaln118s r81ating to
events or conditions that, individually or collectively, may cast significant doubt on the charity's
ability to continue as a going concern for a period of at least twelve months from when the
flnancial statements 8rè authorisèd for issue.
Our responsibilities and the responsiblllties of the trustees with respect to going concern are
describgd in the relevant sections of thi5 reporL
Other Infomiation
The trustees are responsible for the other information. The other information comprls85 the
infomalion included in the annual report, other than Ihe financial stalements and our auditors.
report Ihereon. Our opinion on the financial statements does not cover the other information and we
do not express any form of assurance conclusion Ihereon.
In connection with our audit of the financial stalemenls, our responsibility 15 ta read the other
information and, in doing so, consider whether the other information is materially inconsistent with
the financial stat&menls or aur knowledge obtained in Ihe audit or othorwisg appears lo be
materially misstated. If we identify such material inconsistencies or apparent material mbsstatemenls
we are required lo determine whether there is a material misslatement 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 rnisstalement of this other infomiation, w8 are required to report
thal fact.
Page 15

CIRCUSFUL
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
We h8ve nothing to report in this regard.
Oplnions on other matters prescrlbed by the Companies Act 2006
In our opinion, based on the work undertaken in the ¢ourse of our audit:
the infomalion given in the Trustees Report for the financial year for which the accounts are
prepared 15 consistent with th8 accounts,. and
the Trustees Report ha5 been prepared in accordance with applicable legal requirements.
Matters on whlch we are requlred to report by exceptlon
In the light of the knowledge and understanding of the charity and its environment obtsined in the
coursé of the audit, we have not identified material misstalemenls in the directors, report included
within the trustees, report.
We have nothing to report In respect of the following matters in relation lo which the Companies
Act 2006 requires us to ￿pOrt lo you if, in our opinion..
ad&quate accounting records have not been képt, or returns adequate for out audit have not been
received from branches not visited by us; or
the financial statements ar8 not in agreement with thé a¢wunting records,. or
certain disclosures of Iruslees, remunerallon specified by law are not made,. or
- we have not received all the information and explanations we requlre for our audlL
Rosponslbllltlos of tru8tees
As explained more fully in the slalemenl of Irusees. responsibllitles, the trustees. who 8re also
directors of the charity for the purpose of company law, are responsibl8 for the preparation of the
financial stalemenls and for being satisfied that they give a Irue and fair view. and for such internal
control as the Irusle8s determine is necessary to anable Ihe preparation of financlal statements
that are free from m8lerial misstatement, whether due to fraud or error. In preparing the financial
statements, the trustees are r6sponsible for assessing the charity's ability to continue as 8 going
concem, disclosing, as applicable, matters related to going concern and using Ihe going concern
basis of accountlng unless the trustees either Intend to liquidate the charllable company or lo
cèase operations, or have no realistic alternative but lo do so.
AudStoe8 responsibilllles for th• audit of tho flnanclal statemgntg
Our objectives are lo obtain reasonable assurance about whether the financlal statements as a
whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs
report that indudes 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 delecl a material
misstatement vthen il exists. Mlsstatements can arise from fraud or error and are considered
material if. indivtdually or in the aggregate, they could reasonably be expected lo 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:Ilwww.frc.org.uklaudilorsr6sponsibilities. This descriptSon forms part of
our auditols report.
Page 16

CIRCUSFUL
INDEPENDENT AUDITORS REPORT TO THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
Irregularities, including fraud. are instances of nonrycompliance with laws and regulations. We
design procedures in line with our responsibilities, OLrtlined above. to detect material misstatements
in respect of irregularities, induding fraud. The extent to vthich our procedures are capable of
detecting irregularities, induding fraud, is detailed below.
We obtained an understanding of the legal and regulatory framework applicable to the company
through enquiry of management, industry research and the application of Cumulative audit
knowledge. We identified the following principal laws and regulations relevant to the company-
Companies Act 2006 and the Financial Reporting Standard applicabl& in the UK and Republic
of Ireland (FRS 102).
We developed an understanding of the key fraud risks to the entity (including how fraud might
occur), the controls in Pla￿ to help mitigate those risks, and the accounts, balances and
disclosures within the financial statements which may be susceptible to management bias. Our
understanding was obtsined through review of the financial ststements for significant accounting
estimates, analysis of joumal entries, walkthrough of the key controls cycles in place and enquiry
of management.
Our procedures to respond to those risks identified included, but were not limited to:
Enquiry of management, those charged with govemance and the entity's solicitors around actual
and potential litigation and claims.
• Enquiry of management to identify any instances of non-compliance wlth laws and regulations.
Reviewing minutes of meetings of those charged with govemance.
Reviewing financial statement disdosures and testing to supporting documentation to assess
compliance with applicab18 law8 and regulations.
Auditing the risk of management override of controls, induding through testing joumal entri85 and
other adjustrnents for appropriatene55, and evaluating the business rationale of significant
transaciions outside the normal course of business.
Th18 report is made solely to the charity's trustee8, as a body, In accordanc8 wlth Chapter 3 of
Part 16 of the Compani8s Act 2006 and regulations made under that Act. Our audit work has been
undertaken so that we might state to the charity's trustees those matters which 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 charity and its trustees
as a body, for our audit work, for thi5 report, or for the opinions VR have formed.
Cc *¥oJ4
Teresa Campbell (Senior Ststutory Auditor)
For and on bohalf of AAB Group Accountants Limited
Chartered Accountants
statutory Auditor
1-3 Arthur Street
Belfast
Northem Ireland
Co. Antrim
BT14GA
Page 17

CIRCUSFUL
STATEMENT OF FINANCIAL ACTivinES
IINCORPORAnNGAN INCOMÈ AND EXPENDITURE ACCOUN
FOR THE YEAR ENDED 31 MARCH 2024
Total
und8
2024
otal Funds
2023
Unre•trlcted
R88trict•d R￿1￿Ct•d Copltol
Not08
Incom• froffl:
DO￿a￿onS and 18gad•¥
4,037
4,037
19,818
Chadtable Activitie5
279.619
221,133
500,752 531,254
other InrA)rne
38,973
38.973
7,622
Total Incorno
29
55
,694
Expondllur• on..
Charftsbla Ac￿vItIeS
S16
1286.1461 1229,3661
18,5641
1524,0761 1517.0301
To1•1 Exp•ndltuf•
1288,1461 1229.3061
4,0761 1517,0301
N•t Incom• I l•xp•ndlturnl lor th•
y••r b•lor• tran•f•r•
36,483
18,2331
18,S641
19,686
41,884
Oth•r r•¢ognl••d galn¥lllo••e•l
Tr8nsfaTr bgmpen fvnd8
2,254
{2.2641
N•t mDv•rn•nt In fund
36,737
110,4871
18,5641
19,686
41,664
Reconclllntlon of fvnd•'.
Total funds broughl lo￿ard
297,469
57,795
204,154
559,418 517.154
Total Fund• C•rrl•d Forward
12-14
ss•,
All Incomè dèdv88 from conynulng actbvltles, therefore no 8tat•rn•nt of r•cognls•d galns or10568818 glven.
The note8 on pagp5 22 to 32 forrn part of thes8 ffinanci815tat8rn?nt5.
Page 18

CIRCUSFUL
BAIANCE SHEET
as at 31 March 2024
Note
2024
2023
Flxed Assets
Tangible assets
359,862
359.862
376,787
376,787
Current Assets
Debtors
Cash at bank and in hand
10
52,764
266,669
319,433
34,134
260,367
294,501
Credltor8: amounts falllng du8 wlthln one yéar
11
100,191
111,870
Net Current Assots
219,242
182,631
N•t As¥•t•
579,104
559,418
Represented by:
Restricted Funds
Restricted Capital Funds
Restricled Income Funds
12
13
195,590
47,308
204,154
57,795
Unrestrlcted Funds
Unrestricted Income Funds
Unrestricted Revaluation Reserve
14
220,847
115,359
179,603
117,866
579,104
559,418
Page 19

CIRCUSFUL
Balance Shoet
as at 31 March 2024
T￿8 financlal statements have been prepared In accordance wlth the special provlsions of Part 15
of the Companies Act 2006 relating to small companies.
The financia
temenls vrnre approved by the Board arKI slgned on its behalf..
aura Kelly
Director
Dat
Company Registration Number N1026212
The notes on pages 22 to 32 form part of these financlal statements.
Page 20

CIRCUSFUL
Cash Flow Statement
as at 31 March 2024
Not•
2024
2023
Cash generated from operatlng actlvltles
17
18,504
18,504
119,614
119,614
Cash flow8 from Investlng activitles
Purchase of propety, plant and equipment
Net Cash used in investing activities
112,202)
{12,202)
129.198)
129,198)
Chongo in cash and cash 8qulvalent8
In the reportlng parlod
6,302
90,416
Cash and cash •qulvalent8 at th• b•glnnlng
of the roPQrtlng perlod
260,367
189,951
Cash and cash oqulvalent8 at tho end
of the roportlng porlod
266,869
260,367
The notes on pages 22 to 32 form part of these financial statements.
Page 21

CIRCUSFUL
Notes to the Financial Statemènts
for the period ended 31 March 2024
1 ACCOUNTING POLICIES
Charlty Informallon
Circusful 18 8 private company limited by guaranlee incorporated in Northern Ireland.
The registered office is 23-25 Gordon Slreet, Belfast, Co. Antrim, BT12LG.
1.1 Accountlng Convontlon
The financial statements have been prepared in accordance with the charity's governing document,
the Companies Act 2006 and "Accounting and Reporting by Charitl8s.' Stst8ment of R8commend8d
Practice applicable to charities preparing thelr accounts in accordance with the Financial Reporting
Slandard applicable In the UK and Republic of Ireland (FRS 1021'18s amended for accounting periods
commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currèn¢y of thè ¢harity.
Monetary amounts in these financial statements are rounded to the nearest £,
The financial statements have b88n prèparèd under the historical cost convenllon, modlfied lo Include
th8 revaluation of freehold prop8rti8s. The principal accounting pollcSes are set out below.
1.2 Golng Concern
These financial statements a￿ prepared on the going concem basis. The Trustees are of the view that
with their strategic plan and reserves in place, the continued operation of the charity is ensured and on
this basis the assessment of the Trustees is that the charity is 8 going concern.
1.3 Charltabla Funds
Unrestricted funds are available for use at tha discretion of the Trustees in furtherance of their charitable
objectives unless the funds have been designated for other purposes.
Designated funds ¢omprise unreslrlcted funds that have been set aslde by the Trustees for partlcular
purp050S.
General fvnds may be transferred to deslgnated funds where Trustees wish to use these funds for a
specific purpose. Such funds may be transferred back to general funds once the criterfa for the
designation have been met or ar8 no longer applicable.
Restricted funds are funds which are to be used in accordance with 5pecrfic restrictions imposed by
donors or which have been raised by the Charity for particular purposes. The cost of raislng and
8dmini$tering such funds are charged against the specific fund. The aim and use of restrlcted funds is
set out in the notes to the financial statements. Restricted funds may only be transfe￿ed to general or
designated funds once the criteri8 tor reslriction have been discharged or no longer apply.
1.4 Incoming Resources
Income is ￿cogniSed when the charity is legally entitled to it after any performance conditions have
been met. the amounls can be measured reliably. and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charty has been
notified of the donation Ljnless performance conditions require deferral of the amount. Income lax
re￿)Verable in relation to donations received under Gift Aid or deeds of covenant is recognised at the
lime of the donation.
Page 22

CIRCUSFUL
Notas to tho Financial Statements
for the period ended 31 March 2024
1 ACCOUNTING POUCIES (contlnuedl
1.4 Incomlng ReBourco9 rtd...
Tumover Is measured al the falr value of the Gonsideration rwelved or welvatl? ond represents amounts
ceivable lor goods and services provlded in the normal course of business. n81 of discounts, VAT and
other sales ￿lated taxes.
1.5 Resources Expended
Expendlture is recognlsed once there 18 a legal or con8tructive obllgallon to mak8 a payment to a thlrd
party, It is probable that settlement will be required and the amount of the obllgallon can be measured
reliably. Expendllure is dassified under the followlng activity h88ding8:
Expendllur8 on charitsble actlvlties Includes the promotion and development of drcus arts and
activities undertaken to further the purpo$es of the charity and their associated support ¢osts
Irro¢overable VAT Is charged as a eo81 against tho a¢tivity for vthi¢h th• 0xpenditu￿ was in¢urred.
1.6 Allocatlon of 8upport Costs
Support C0818 are those functions that assist thè work of thg charity bul do not directly undertak&
charftable aclivi118s. Support costs include back office costs, flnance, personnel, payroll and govemance
costs which 5UPPOrt Ihe charity's programmes and activities. These costs have been allocated lo
e¥penditure on charitable advllles.
1.7 Cash and cash equlval•nt•
C8sh and cash equivalents Indude c8sh in hand. deposlts held 81 call bank¥. other 5hort-t8rm liquld
investments with orlglnal maturities of three month8 or1888, and bank ovèrdrafts. Bank overdraft8 are
shown within borrowngs in current lla￿.1111e8.
1.8 Tanglble Flxed Asmts
Tangible fixed assets are initSally measured al cost and subsequéntly mo8$urod al cost or valuatlon, net
of depr•¢iatlon and any lmpalmient10880s.
Depreclatfon is recognised $0 88 to wrlle off the co81 or valuaton of assets less their re5idyal valu88 over
their usghjl Ilves on the following bases..
A•set Catggory:
Freehold Property
Fixtures & Fittings
Motor Vehlcles
Annual Rat•
2%
20%
25%
Straight Line
Straight Line
Straight Line
The gain or10s3 8ri5ing on the disposal of an asset Is determined a5 the difference be￿een the sale
proceeds and the carrying value of the asset, and is recognised in net incomellexpendilure} for the year.
1.9 lfflpalrment of Flxed Assets
Al each reporting end dale. the charity review8 the c8rrylng amunts of its tangible ossels to delemilne
sthether there is any indication that those assets have suffered an impairment loss. If any such indlcatlon
exists, the recoverab16 amount of the asset is estimated in ord8r to detemiine the extent of tha impairment
10&8 Ilf any}.
Page 23

CIRCUSFUL
Notes to the Financlal Statements
for the period ended 31 March 2024
I ACCOUNTING POLICIES Icontlnued)
1.10 Flnanclal Instruments
The charity has elected lo apply the prov151ons of Sectlon 11 'Baslc Flnanclal Instruments, and Section 12
Other Flnan¢ial Instruments Issues. of FRS 102 to all of its financial Instrurnents.
Finandal Inslfuments are recconl8ed In the charllls balance 8heel when the charlty becom88 party to the
conlractU81 provlslons of the instrument.
Financlal assats and Ilabllllles are offset, with th8 nel amounts pre8ent8d in the financial slat8men18, when
there is a legally enforceable nghl lo set off the recognisad amounts and there is an intention to setue on
a nel basis or lo reali88 the ass81 and settle the Ilabllity simullaneou81y.
Baslc Financlal Assets
Basic financAal assets, which includ8 d6btors and cash and bank balance5, are initially measured al
Ir8nsacUon price Includlng transaction costs and are subsequently carrfed at amortised cost uslng the
gffective interest melhodunless the arrangement constilules a financing transaction, where the transaction
Is measured al the prè$enl value ol the fulure receipts dlscounted a18 market rat6 of Interest. Financial
assets classlfled a8 rgceivable wllhln one year are not amortised.
8•sl¢ Flnan¢l•l Llabllltles
B88ic financlal Ilabililies includlng credllor8 and b8nk108ns ara Inlllally recognl$8d 8t Iransactlon prlce
unle38 the arrangemanl conslllules a financing Itansaclion. whero Ihg dgbl Inslrumgnt 1$ measurgd 01 the
present value ol the future paymen15 discounted al a market rale of inter881. Financial liabilities classified as
Payable withln one year 8re not 8mortised.
Debt In3lrumentS 8re sub8equenUy carrled at arnort15ed cosL using the effacfve Intsrest rate method.
Trade creditors are obligation to pay for goods or 8ervlces thal have been acqulred In the ordinary course
of opera￿On$ from suppliers. Amounts payable are classlfled as currenl Ilabilllles If payment Is due within
one year or less. If not, they a￿ presented 88 non-¢uffenl liabilib'es. Trade creditors are recognised initially
al Ir8nsaGtson prico and sub8equenlly measured at amorti8ed oosl using the effecllve interest method.
D•rn¢ognltlon of flnancl•l Ilabllltles
Financial liabililles are der8cognised vthen the charitys contractual obllgatlon explre or are d18charged or
cancelled.
1.11 Employe• beneflts
The cost of any unused holiday enllllement 1$ recognised in the perfod In which the employee's 3erv6ces
are r8C8lve(l.
Temiination benefits are recognlsed immediately as an expense when the charity is demonstrably
committed to lermlnate the employment of an employee or provlde t6rminalion benefits.
Crltlcal Ac￿UntIng Estlmatas
In the appllcatlon of the charily's accountlng policles. th6 Trustees are required lo make judgements.
eS￿MateS and assumplions about the carying amount of assets and liabilities that are not rea¢Jily apparent
from other sour￿. The estimates and associated assumptions are based on historical expèrience and
other faciors that are considered lo b8 relèvant. Actual results may differ from these estimates.
The estimotes and undedwng assumptions ar& reviewed on an ongoing ba$ls. Revislons to accountSng
eslimales are recognised in the period in which the estrmate is revised where the rovi5ion affects only that
period. or in the perfod of the revision and future p&riod8 where the revision affects both current and future
periods.
Page 24

CIRCUSFUL
Nolos to the Flnanclal Statements
for the period ended 31 March 2024
2 Donations and Legacies
Total Funds
2024
Unrnstrlctod R•$trlded
Donation$
4,037
4,037
4,037
4,037
UnreslrScted R8Strict8d
2023
Donatlons
19.818
19,818
,818
3 Incom• from Charltabl• Actlvltl
Unre•trlct•d Ro8trlctsd R••trlct•d Total Fund•
Fund¥
Fund•
Fund•
2024
Chlldren In Need
Youth Circus, Adult Clrcus,lty Bltty, Oulreach.Othei
Arts Councll of Northern Ireland Capit81
Arts Council of Northem Ireland
ACNI Mike Maloney- aword
Training CI888e51 Tuition and Perfomiances
Belfast Clty Councll
RTE Toy Fund
The Esmae Falrb8im Foundatlon
Caravan Projgcl
Hallfax
Isacc Clrcu8 explored
Natlonw(de
Future Screen Nl
The Amerfcan Ireland Fund
Clear Project IPHAI
Other Grants
162.304
162,304
15,882
150,898
4,500
15,882
150.898
4,500
53,520
53,520
27.323
57.147
2.136
1.101
3,520
3,878
17,551
27.323
57.147
2.138
1.101
3,520
3,878
17,551
992
992
279.619
221,133
500.752
Page 25

CIRCUSFUL
Notes to tha Financial Statements
for the period ended 31 March 2024
Unrestrlcted Restrfcted R08trlctsd
Funds
Funds
Funds
Total
2023
Children in Need
Youth Circus, Adult Circus & Ilty Bfty Donations
Arts Council of Northern Ireland
Belfast City Council
Esmee Fairbum Foundation
The American Ireland fund
Department for Communities
Hallfax Foundation
Clear Project {PHAI
RTE Toy Fund
Nationwide
Future Screens Nl
Other Grant$
30,515
30,515
133,239
205.596
48,600
56,947
4,312
133,239
176,398
48,600
56,947
4,312
29,198
4,399
4,000
27,318
786
14,487
4,399
4,000
27,318
786
14,487
1,055
1,055
420,551
110,703
4 Othor Income
Unrestrlctod
Funds
Total
2024
Unrestricted
Funds
Total
2023
M8rchandls8 Income
other Income
Premiere Circus Donatlon
728
38,245
728
38,245
289
7,333
289
7,333
38,973
38,973
7,622
7,622
S Costs of Charltable Actlvltle8 by Fund Typo
Unrestrlcted Restrlctod Restrlcted
Funds
Funds
Capital
Funds
2024
General
Adult Circus
Outreach
Halifax
RTE Toy Fund
Futuré Screens
Nationwide
Arts Council of Northem Ireland
Support Costs
168,502
41.489
17.385
168,502
41,489
17,385
1,101
23,248
17.540
2,863
135.550
116,397
524,076
1,101
23,248
17.540
2.863
135,550
49,063
229,366
58,770
286,146
8,564
8.564
Page 26

CIRCUSFUL
Notes to the Flnanclal Statements
for the pericé ended 31 March 2024
Unrestricted Restricted Restrlcted Total Funds
Funds
Funds
Capital
2023
General
Itty Bitty and Youth Circus
Adult Circus
Outreach
Support Costs
272,191
27,824
31,863
15.899
72,796
75,960
348,151
27,824
31,863
15,899
93,293
11,933
8,564
420.573
87,893
8,S64
517,030
6 Costs of Charltablè Aetlvlty by Actlvlty Type
Actlvltles
Undortakon
Dlrectly
Total
Funds
2024
Total
Funds
2023
Support
Costs
Gèner81
Arts Councll of Northem Ireland
lty Bltty and Youth Circus
Adult Circu8
Outreach
Caravan
Halifax
Belfast City Councll Capital
Department for Communltles Caplt81
Clothworker Foundation Capital
GovemanGe Costs
202,971
135,550
17,153
41,489
17.385
72,880
15,348
319
165
2.221
3.900
275,851
150,899
17,472
41,654
19,606
3,900
1,102
429.917
27.824
31,863
16,907
1,842
1,102
88
2,315
5,586
5,625
108,428
2,315
5,586
5,625
524,076
8,677
517,030
415,650
Page 27

CIRCUSFUL
Not•s to tha Financial Statements
for the period ended 31 March 2024
7 Net Incomlngl(Outgolngl Resourcès for the yoar
This is stated afler charging:
2024
2023
Depreciatlon
Auditors R8munerallon.'
- Audit of th8 Financial Statements
29,126
21.758
4.000
4,000
8 Trust•• and Staff Costs
Total staff coit• wore as follows:
2024
2023
Wages and salaries
Social security costs
Pension Costs
223,653
16,309
3,575
243,537
224,653
10,165
8,871
243,688
Partlculars of employees:
The average number of employees durlng the year, calculated on the basis of full-time
equivalents was as follows:
2024
No.
2023
Number of st8ff
10
No employee received remuneration of moro than £60,000 durlng th8 y8ar (2023- Non81.
No Trustee received r8mun8ration or any other benefits from hlslh8r trusteeshlp wlth th8 Charlty
in the year12022123'. £Nil). No Irustee recelved travel expanses during th8 year ended 31 March
2024 (2022123.. £Nill,
No trustee rec8Sved pament for professlonal or other services supplied to the charlty.
12022123.. £Nill.
The key management P8rsonnel of Circusful comprise the Trustees and the CEO.
The employee benefits of the key management personnel of the charlty W8r8 £58.095.
Page 28

CIRCUSFUL
Notes to the Financial Statements
for the period ended 31 March 2024
9 Tanglble Fixed Assets
Freehold
Property
Fixtures &
Fittings
Motor
Vehiclos
Total
Cost..
As at 1 Aprll 2023
Additlons
Disposals
As 8t 31 March 2024
487,806
237,2S2
12,201
92,189 817.247
12.201
487,806
249,453
92,189 829,448
Depreclation-.
As at 1 April 2023
Charge for thB ygar
Depreciation Eliminated on Dlsposal
As al 31 March 2024
161,167
9,756
226,400
6,484
52,893 440.460
12,886 29,126
170,923
232,884
65,779 469,586
Net Book Valu8'.
AS at 31 March 2024
As at 31 March 2023
316,883
326,639
16,569
10,852
26,410 359,862
39,296 376,787
10 Debtors
2024
2023
Trade Debtors
Amounts du8 from Related Parties
Other Debtors
Prepayments
12,272
16,284
18,338
5.870
52,764
18,971
9,469
5,694
34.134
Amounts due from related partles are unsecured, interest free and repayable on demand.
11 Crodltorn: amountj falllng duo wlthln one year
2024
2023
Trade Creditors
Other Creditors
Accruals & Deferred Income
27.678
1,519
70,994
100.191
26.244
1,207
84,419
111.870
Page 29

CIRCUSFUL
Notes to the Financial Statements
for the period ended 31 March 2024
12 Restricted Capital Fund$
Balance at
1 Apr 2023
Asat31
March 2024
Income
Expendlture
Restricted Capitsl Funds
204,154
204,154
{8,564)
(8,564)
195,590
195,590
13 Restricted Income Funds
Balance at
1 Apr 2023
A8at31
Expenditure Transfers March 2024
Income
Ro$trfctod Fund
2,254
(2.254)
Chlldren in Need
Arts Council Nl Capitsl
Arts Council Northern Ireland
Belfast City Councll Capital
Halifax
Department for Communities Capital
Clolhworker Foundation Capital
Mike Maloney Award
RTE Toy Fund
Natlonwide
Future Screens Nl
Tolal
41,472
15,882
150,898
(16,146)
(150.8981
1681
(1,101)
(2,3151
(5,5861
(4,500)
{27,323)
13,878)
(17,551}
(229,366) (2,254)
41,208
192
124
1,101
4,037
10,708
1,722
5,122
4,500
27,323
3,878
17,551
221.133
58
56
19241
57,795
(924)
47,308
The restricted expendlturé includes depreciatlon for assets purchased by reslrlcted monies.
Balance at
1 Apr 2022
Asat31
Expendlture Transfers March 2023
Income
Re$trfctod Fund
2.254
2.254
Children In Need
Arts Council Nl Capital
Belfast Cty Council Capitsl
Halifax
Department for Communities Capitsl
Clothworker Foundation Capital
Clear Project (PHA)
RTE Toy Fund
Nationwide
Future Screens Nl
Total
16,029)
15,958
260
30,515
29,198
125.059)
(3.684)
(681
(4,399)
(1,6381
15.5861
14,000)
(27.262)
(786)
(15.411)
(87.893)
573
41,472
192
4,399
5,675
16,294
4.037
10,708
4,000
27,318
786
14,487
110,703
56
1924)
34,412
573
Page 30

CIRCUSFUL
Notes to the Financial Ststements
for the period ended 31 March 2024
14 Unrestricted Income Funds
Balance
at 1 April
2023
Asat31
March
2024
Income Expendltur• Transf•rs
General Funds
R•valuatlon Ro8•rv•
179,603 322,629
117,866
297,469 322,629
(283.639)
{ 2,507)
1286,1461
2.254
220.847
115,359
336,206
2,254
Balance
at 1 Aprll
2022
Asat31
March
2023
Incom• Expendltur• Transfers
Genoral Funds
Revaluatlon Reserve
150.250 447,991
120.374
270.624 447,991
(418,065)
2,508)
1420,573
(573)
179,603
117,866
297,469
(5731
15 Analysls of Net Assets Between Funds
Tanglblo
Flxed
A88èts
Asat31
March
2024
Net Current
Assels
Restricted Fund
Reslricled Capital Funds
Unrestricled Funds
Total Fund8
47.300
195,590
116,972
359,862
58,980
106,280
195.590
277,234
579,104
160,262
219,242
Tanglble
Flxed
A8set8
Asat31
March
2023
Not Currènt
Assets
R8Stricted Fund
Re5triclgd Capital Funds
Unrestricted Funds
Total Funds
51.920
204,154
120,713
376.787
5,875
57,795
204,154
297,469
559,418
176.756
182.631
16 Related Party Transactlons
At the balance sheet date Circusful had £nil balance owed to Fe5tTval of Fools Ltd, a related
Paty12023- £6.1531.
At the balance sheet date Circusful We￿ owed £16,284 from Premiere Circus Ltd, a related party
{2023 - £Nil).
Page 31

CIRCUSFUL
Notes to the Financlal Statements
for the perlod ended 31 March 2024
17
Reconciliation of net Income l (•xponditurè} to net cash flow from operatlng actlvltles
2024
2023
Net mov8m8nt In funds for th6 r8POrting period (SOFA)
Depreciatlon on tangible fixed assets
(Increase) I d8crease in debtor8
Decrease in cr8ditor3
19,685 14,699)
29.126 21,702
(18.630) 35,196
11,679
{46,738
Net Cash generated from operatlng actlvbtles
18,504
5,461
Page 32