COMPANY REGISTRATION NUMBER: N1042024 CHARITY REGISTRATION NUMBER: NIC100710 Cahoots Nl Limited Company Limited by Guarantee Financial Statements 31 March 2025
Cahoots Nl Limited Company Limitsd by Guarantee Financial Statements Year ended 31 March 2025 Page Trustees, annual report (incorporating the directorfs report) Independent auditorfs report to the members Statement of financial activities (induding income and expenditure account) 13 Statement of financial position 14 Statement of cash flows 15 Notes to the financial statements 16 The following pages do not form part of the financial ststements Detailed statement of financial activities 28 Notes to the detailed statement of financial activities 30
Cahoots Nl Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2025 The trustees. who are also the directors for the purposes of company law, pre5enl their report and the financial statements of the charity for ihe year ended 31 March 2025. Referenee and administrative details Registered charity name Cahoots Nl Limited Charity registration number NIC100710 Company registration number N1042024 Principal office and registered ole¢ Unit 3 Offices. 1st Floor Cilyside Reiail Park 100-150 York Str¢¢t Belfast BT15 IWA The trustees George Bleeks Padraig Coyle Lynne Fleming Rory Cowan Aidan McGrath Paula Cairns Gillian Mccolgan Marianne Crossle Emma Burdett (Resigned 8 January 2025) (Appointed 13 December 2024) Key management personnel Artistic Director- Paul McEneaney Company secretary Paul McEneaney Audltor Muir & Addy Chartered accountants & 5tatulory auditor 427 Holywood Road Belf&sl BT4 2LT Bankers Ulster Bank Arches Retail Park Belf&st BT5 4AF
Cahoots Nl Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2025 Struclureg governance and manvdgement Cahoots Nl is a charitable company limited by guarantee. The company was established under a Memorandum of Association which eslablished the objectives and powers of the COTnpany and is govemed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount nol exceeding £1. The organisalion continues to maintain good governance. using monihly organisational reports to record. monitor and review financial movem¢nl and company business on a monthly basis. Review of company policies is carried out as required and, apart from some updating to reflect changes to legislation. no major changes took place. The organisation continues to expand the re-focus of direction set out in the previous reporting period in response to the prevailing economic climale, with emphasis on establishing new creative partnershipslco- productions to ensure continued growth, building a sustainable future and - while Northern Ireland remains the core audience - entry to the global marketplace with increased touring. The sustainability strategy involves - project led emph&sis - reduction in core costs" re-focus on the large scale productions for which Cah¢x)ts Nl has an established repulation; reduction in delivery of smaller projects such as ad hoc workshops" development of crealive partnerships and COTrproduclions lo share resources. development of partnerships specifically to promote and realise extensive international touring; income from international touring will sustain the creation of new work for ihe local audience and in turn provide more produci for louring" development of slrategic. imaginalive new operdtional practice conceived to grow capacity. sustainability and resilience, miligating risk by enabling self contained experiences. Objectives 2nd aetivities Cahoots Nl is one of Northern Ireland's leading professional theatre companies. Since it w&$ founded on 2001 li has been committed io producing original. high quality work for children. some of il stag¢d in conventional theatre venues and some in purpose built or site specific locations. Its work concentrates on combining the visual polential of thealre with ihe age old popularity of magic and illusion. Cahoots Nl conlinues to slriv¢ to be a major coniribulor lo the Nl children's arts experience through its productions and outreach Programme. Each year Cahoots Nl delivers an ambitious, innovative and challenging programme. and since its creation has interacted with 695.024 children and their families.
Cahoots Nl Limited Company Limited by Guarantee TTUStees' Annual Report (Incorporating the Directorfs Report) (eontlnuad) Year ended 31 March 2025 Objectives and activities {cowiM4ed) The aims of Cahoots Nl are - Io Produce high quality large scale work for children for our main stage spaces throughout Ireland and internationally; to produce work designed to fill the middlellarge scale venues in the Northern Ireland, including our home base perfonnance space in Cityside Relail Park, with a target audience of children under twelve accompanied by parentslcarers/ieacheTS' to capitalise upon the age old tx)pularity of magic a5 an essential ingredient in the art of entertaining children. Io use traditional and new lechniques of magic and illusion lo create theatre which is truly startlin& where the complicit suspension of disbelief is unavoidably usurped by genuine astonishment. to use magic and illusion to fuel a theatrical experience which Ix)m)ws from Circus. dance and perfomance art" to maximise upon ihe unique 'live' nature of iheatre so ihat the audience experience is as vivid. memorable and empowering as possible: lo encourage appreciation of the arts and stimulate the artistic crealivity of children: to present. promote, organise and manage productions of culiural and educational value for children" to encourage children to become aclively involved in all aspecls of ihe perforniing arts: to coordinate with oiher providers of children's work in order to raise the profile and slatus of childrens th¢alre and ensure a strategic approach io its delivery: to develop working partnership5 Wlth venues and festivals so that the work is as fully integrated &$ possible into their annual programme. Our Pu ose Through our theatrical magic. we inspire a nse of wonder. unlock imagination and nurture a love of the arts in children. Our Mission Protect and promote the right of all children lo have acce5S to high quality artistic experiences. Our Vision We seek to become a world leader in theatre for young audiences wilh our brand recognised for delivering innovative. exciting and high quality experiences whilst always reaching more children and young people.
Cahoots Nl Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 March 2026 Achievements and performance Cahoots Nl continues to produce a body of world-cl&ss work for children and families over the financial period l April 2024 - 31 March 2025. The organisalion's tK)rtfolio of site-specific work and commercial partnership conlinues to strengthen with partners, Cityside Re11 & Leisure Park. where the company is based. and where work is developed and delivered within Cahoots, purpose built perfonnance space. Alongside this Cahoots, programme of large-scale theatre produclions mainiain momentum both locally (Grand Opera House) and internationally (North America). Each projecl is ¢valuated individually. and evaluation reports are available upon request. The company's output in the reporting period delivered many opportunities for children, their families and schools to experience high quality professional iheatre created specifically for them. in dynamic. accessible ways. In 2024-25 the charity engaged with 14,193 children and families in theatres and custom built perforniance spaces in Nl and North America. In this period Cah(M)ts Nl gave 63 perforniances. delivered 14 workshops io youth clubs, and issued 106 artist contrdcts. The intemational touring programme, which moved Cahoots into the global marketplace and provided the resources to Create new Work at home in Nl. continues to strengthen. A first for Cahoots was The Musicians of Bremen co-produced in collaboraiion with Segerstrom Center lor the Arts. Costs Mes4 California. This production has been in development Since 2022 in California and Belfast with local and international artists. The Vanishing Elephant. a project which had its original inspirntion in New York. completed a 10-venue tour across 7 states in USA. The long established r¢lalionship wilh Holden Arts and Associates continues to flourish, with plans for future touring continuing into 2025-26. A feature of the 2024-25 output was making new connection5. The Belfast Iniemational Arts Festival Showc&se meant that a number of International delegates were invited to attend The Vanishing Elephant while they were in Beif&8t. The delegate progrdmme included a wide range of arts professionals from all over the world including Colombi4 Ireland. UK, Netherlands. Egypt, Palesline. USA. Tokyo and many more. We had members of the Creative team from Buxton Opera House attend one of our perforniances who. following this engagement. will present the show in 25126. Our US agents Holden and Arts Associates also attended, resulting in a number of strong leads for Iniernational programming.
Cahoots Nl Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (continued) Year ended 31 March 2025 Achievements and perforniance (cowiwiedj Artistic Programme l April 2024 - 31 March 2025 May- June 2024 The Musicians of Bremen, LIVE - Cityside. BelfasL NI A Cahoots and Segerslrom Center co-produclion DevelopmenURehearsal period: 20 May- 19 June 2024 Venue: Ciiyside Retail & Leisure Park Run: 20- 22 June 2024 Performances: Audience: Artists." casucreativeslcrew Local Community Groups: October 2024 The Vanishing Elephant Community Workshop Programme - Cityside. Belfast, Nl Dates: 3 - 23 Oct 2024 Venue: Cityside Retail & Leisure Park Partieipaling Youth Clubs: Participants: Artists: c&st and creatives 280 21 115 "Thankyou so muchfor fonighi. it was absolulely amtL7ing, Ihefeedbackfrom ourgroup is unreall They are so exciledfor The Grand Opera HOe am l. We really apprecialeyou including us in iheproject" October - November 2024 The Vanishing Elephant - Grand Operd House. BelfasL NI Programmed in Belf&st Inlernational Festival Rehearsal period: Run at GOH: Performances: Audience: Artists." castlcreativelcrew 7- 25 Oct 2024 31 Oct-2Nov2024 2097 24 'The pnost amazing show ever, Ihe grealesl show in the world, brillianl, amazingfanlaslic. spectacular. November - December 2024 The Sorcerevs Apprenlice - Cityside. B¢lfast. Nl Rehearsal period: Community Previews: Run at Cityside". Perforniances: Workshops: Participating Youth Groups: Audience: IINov-4Dec2024 5-6Dec2024 7- 24 Dec 2024 28 1868
Cahoots Nl Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 March 2025 Achievements and performanee fconlinuedj January- February 2025 The Musicians of BretRen LIVE. Costa Mew USA Rehearsal period: 13 Jan-4 Feb2025 Tour: 5-9Feb2025 Venue: Samueli Theatre, Segerstrom Center for the Arts. Costa Mew Californi4 USA. StIng capacity 300 io 2466 20 Perforniances: Audience- Artlsts: caSVcTeativecreW 'Loved the music, from Tom Wails to gospel and county il was amazingl Super almosphere, greal slory and message with (m AM4ZING sei., February- April 2025 The Vanishing Elephant, USA Tour: Venues.. l O venues across Perfomiances: Workshops". Audienee: Artists: casvcrealiveslcrew 26 Feb- 4 April 2025 7 States 19 6 (Q&A sessions with cast and cr¢w12 in each of 3 venues) 10.037 24 "This show is one of ihe mosl powerful and incredible experiences J ve ever been privileged io share. Thankyou io Pro-Arl and Cahools. l am so ihunkfvl Joiiended ihisplay andl appreciaie ihe wonderfvl arlistry in lelling ihis slory. J am ovenvhelmed with emolion righi now. Ji's difficuli io lalk. And io ihink l almosl chose lo noi go. I hadplanned on going buifound myself working in standing waler and mud righi up lill an hour before, bui Ihadihal 51i115mall voice sayingget ready andgo. And now I'm slanding in ihe parking lol of JW Adams, shaking wilh emolion, in ieur3. 11,3 good io slill be able lo feel ihese days. The power ofslorylelling. Thealer, Music. Arl. Ji's Iransformalive. ' FiDancial review The company is a non-profAI making organisaiion. The results are set out in detail on page 13. The company had net outgoing resources for the year of £89.832. This represents the reinvestmenl of prior years surpluses in the development of new pn)jects to allow the charity io continue lo provide an extensive programme of work which is increasing in scale and inlernaiional renown. Reserves policy The directors have examined the charity's requiremenls for reserves in light of ihe main risks to the funding of the organisalion. Unrestricted free reserves are currently £129,028, and this level of reserves would be suificient to fund the organisalion's running costs for a period of four months at currenl levels of spending. The directOTS consider this level of reserves to be adequaie to meet ihe needs of the charity. During the year transfers were made into several designaied funds from the general fund, as detailed in note 16. The directors designate these funds for specific priyjuclions and aciivilies to ensure that adequate financial resources are available for the planned activities of the Charity.
Cahoots Nl Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) {conUnuedJ Year ended 31 March 2025 Plans for future periods In the year April 2025- March 2026 Cahoots Nl will otTer- new. world class productions in large scale theatres. spectacular site-specific perforniances. new writing for developmenl and production" dynamic and unique outreach and education opportunities. international iouring- established and new local and international Covproductions and partnerships. projects that cross artfomi boundaries: Productions and Development of Projects for l April 2025 - 31 March 2026 The Vanishing Elephant USA The Vanishing Elephant UK Tour New Work Development Belf&8t. Nl Secrets of Space BelfasL NI Unlocking Sherlock Belfast. Nl The Musicians of Bremen Live BelfasL NI The Secret Bookshop Belfast. Nl Secrets of Space USA Tour Tour April 2025 ApriVMaylJune JunelJuly/AugusVSeptember/October September Seplember/OctobertNovember SeptemberlOctoberNovember OctoberNovember/DecemberlJanuary January/FebnwylMarch Trustees, responsibilities s¢atemeDt The trustees, who are also directors for the purposes of company law. are responsible for preparing the trustees, report and the financial slalements in accordance wilh applicable law and Unil¢d Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity Irustees lo prepare financial slalements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources. including the incorne and expendilure, for Ihal peri(xl. In preparing these flnancial statemenls, the tnteeS are required to: select suitsble accounting policies and then apply them consistently. observe the methods and principles in the applicable Charities SORP. make judgments and accounting estimates that are reasonable and prudent: prepare the financial statements on the going concern blsis unless il is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficienl to show and explain the charity's transactions and disclose with reasonable accuracy ai any time the financial posilion of the charity and enable them to ensure ihat the financial statements comply with the Companies Aci 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularilies.
Cahoots Nl Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Directorfs Report) (continued) Year ended 31 March 2025 Small company provisions This report has been prepar¢d in accordance with the provisions applicable to companies entitled to the small companies exemption. The trustees, annua by.. eport was approved on 24 October 2025 and signed on behalf of the board of trustees aul McEneaney Charity Secretary
Cahoots Nl Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Cahoots Nl Limited MUIR & ADDY Year ended 31 March 2025 Opinion We have audited the financial ststements of Cahoots Nl Limited (Ihe 'charity') for ihe year ended 31 March 2025 hICh cornprise the Sthiemenl of financial activities (including income and expenditure account). 5temen[ of financial posilion, statement of cash flows and ihe related noles. including a 5urnmary of significant accounting policie5. The financial reporling framework ihal has been applied in their preparation is applicable law and United Kingdom Accouniing Standards. including FRS 102 The Financial Reporting Slandard applicable in Ihe UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial staiements: give a true and fair view of ihe sthie of the charity's affairs as at 31 March 2025 and of its incoming resources and application of resourc¢s. including income and expenditure. for the year then ended- have been properly prepared in accordance with Uniied Kingdom Generally Accepted Accounting Practice; have been prepared in accordance wilh the requirements of ihe Charilies Act (Northem Ireland) 2008. Basis for Opinion We conducted our audit in accordance wilh Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under ihose standards are further described in the auditorf5 responsibilities for the audil of the financial statements seclion of our report. We are independenl of the charity in accordance with the ethical requirements that are relevant to our audit of the financial slatements in the UK. including the FRC'S Ethical Stsndart and the provisions available for small entities. in the circutnstances set oui below. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have oblained i5 sulficient and appropriale to provide a basis for our opinion. In auditing these financial staiemenls we have applied the"Ethical Standard - Provisions Available for STnall Entities" issued by the Financial Reporting Council. in the circumstances Set out in note 25 10 the financial statements. Conclusions relating to going concern In auditing the financial statements. we have concluded thai the trustees, use of the going concem basis of accounting in the preparation of the financial siatements is appropriaie. Based on ihe work we have perfonned. we have nol identified any material uncertainlies relating to events or conditions that. individually or colleclively, may casl significani doubt on the charity's ability io continue as a going concern for a period of at le&st twelve months from when the financial slatemenis are auihorised for issue. Our responsibililies and the responsibilities of ihe trustees wilh respeci io going concem are described in Ihe relevant sections of this report.
Cahoots Nl Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Cahoots Nl Limited (eontlnu•d) MUIR & ADDY Year ended 31 March 2025 Other information The other infomation comprises ihe infornialion included in ihe annual reporL other ihan the financial statements and our auditor's report ihereon. The trusiees are responsible for the other information. Our opinion on Ihe financial staiements does nol cover ihe other information and, except lo the exlenl Otherwise explicitly staled in our reporL we do not express any forni of assurance conclusion thereon. In connection with our audit of the financial slalements. our responsibility 15 10 read ihe other infonnation and. in doing so. consider whether the oiher infonnation is materially inconsistenl wilh the financial statements or our knowledge obtained in the audit or otherwise appea to be materially misstaled. If we identify such material inconsistencies or apparent maierial misstaiements. w¢ are required io delem)ine whether ihere is a material misstatement in the financial slaiements or a material misstatement of the other infom)ation. If. b&sed on the work we have perfomied. we conclude that there is a material misstatement of this other information. we are required to report thai faci. We have nothing to report in ihis regard. Matters on which we are required to report by exeeption In the light of the knowledge and understanding of ihe charily and its environment obtained in the course of the audit, we have noi identified material missthtements in ihe trustees, report. We have nothing lo report in respect of the following mallers in relation io which the Chariiies Aci (Northern Ireland) 2008 requires us to report to you if. in our opinion: the infornialion given in the Irustees, rewrt is inconsislent in any material respect with the financial statements- or adequate accounting records have not been kepl: or the financial statements are not in agreement with ihe accounting records and returns: or we have not received all Ihe infomiation and explanations we require for our audil. ReSPODsibilities of trustees As explained more fully in the trustees, responsibilities stalem¢nl. Ihe trustees are responsible for ihe preparation of the financial statements and for being satisfied Ihat they give a true and fair view, and for such internal conlrol as the trustees deiemiine is necessary lo enable the preparation ol financial siaiements that are free from maierial misstatement, whether due to fraud or error. In preparing ihe financial slatements. the Irustees are responsible for ass¢s5ing Ihe chariry's ability. to continue as a going concem. disclosing. as applicable. matlers relaied to going concem and using the going concern basis of accounting unless the iruslee> eiiher inlend 10 liquidaie the charil). or 10 cease operations. or have no realistic altemative bul 10 do so. 10
Cahoots Nl Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Cahoots Nl Limited (conllnued) MUIR & ADDY Year ended 31 March 2025 Auditor's rcsponsibililic5 for thc audit or the financial statements Our objeclives are lo obtain reasonable assurance about wh¢iher the financial slatements as a whole are free from malerial misstateinent. hether due to fraud or error, and to issue an audilor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit conducted in accordance iviih ISAS (UK) Ivill alivays delect a material misstatement when il exisls. Missialemcnls can arisL. froni fraiid or error and are considered maierial if. individually or in the aggregate, Ihey could reasonably be expected 10 infliience Ihe economic dLcisions of users taken on the basis of these financial stal¢ments. Irregularities. including frdud. are instances of non-compliance with laws and regulation5. We design procedures in line with our responsibilities. ouilined above. to delecl material misstaternenls in respect of irregularilies. including fraud. The extent to which our procedures are capable of deiecling irregularities, including fraud is deiailed below: We discussed laws and regulalions and fraiid risks during OUT audit planning procedures. The company must comply iviih relevant legislation and prepare financial sthiemenls which give a Irue and fair view. Fraud is mosl likely to involve the mi5approprialion of charity &ssels. for example fraudulent payments which mighl include ihe creation of fictitious suppliers or employees or lh¢ changing of bank delails. Our engagement team collectively had appropriaie experience of applicable laws and regulations and competence lo recognise non-compliance. We used checklisls in evaluating ihe presenialion, slructure and content of the financial stalements. We consider thal our audit has a reasonable chance of detecting Tnalerial non-compliance with laws and regulations. We remain mindful thai fraud, by its very nature, may be difficult to detect. and that misappropriaiion may occur before iransaclions enier the accounting records of the charity. Audit procedures were planned and perfonned io tesi controls in place for auihorisation and payment of supplier invoice5 and salaries. We also undertook analylical procedures to identify trends that might indicate fraudulent payments and we reviewed general ledger payTnents processed differenilv lo regular supplier paymenis. We consider that our audit has a reasonable chance of delecting a maierial fraud in this area. As part of an audit in accordance with ISAS (UK). we exercise professional judgment and mainlain professional scepticism throughout ihe audil. We also- Identify and &ssess ihe risks of material misstatement of the fiF]ancial siatements, whether due to fraud or error. design and perfonn audii procedure5 responsive lo Ihose risks, and obtain audil evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a maierial misstatement resulting from fraud is higher than for one resulting from error. as fraud rnay involve collusion. forgery, intentional omissions. misrepresentations. or the oveide of internal conlrol. Obtain an understsnding of internal conlrol relevani lo Ihe audil in order lo design audit procedures that are appropriaie in lh¢ circumstances. but not lor the purpose of expressing an opinion on the effectiveness of the intemal conlrol. Evaluate the appropriateness of accounting policies used and ihe re&sonableness of accounling estimates and relaied disclosures made by ihc irustees. 11
Cahoots Nl Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Cahoots Nl Limited (continued) MUIR & ADDY Year ended 31 March 2025 Conclude on the appropriateness of the trustee5' use of the going concem basis of accounling and. based on the audit evidence oblained, whether a material uncertainty exisls related io events or conditions Ihai may cast significani doubt on the charity's ability 10 continue as a going concern. I fwe conclude that a material uncertainly exists. we are required io draw attention in our auditor s report to the related disclosures in the financial slalements or. if such disclosures are inadequate. to Tnodify our opinion. Our conclusions are based on Ihe audil evidence obiained up to the dale of our auditor's report. However. futu events or conditions may cause the charily lo cease lo continue as a going concem. Evaluate the overall presentation. structure and conieni of the financial statements, including Ihe disclosures. and wheiher the financial 51alem¢nts represent the underlying iransaclions and events in a manner thal achieves fair presenlation. We communicate with those charged ,]lh governance regarding. among oiher matters. the planned scope and timing of the audit and significant audit findings. including anj. significani deficiencies in intemal conirol thai we ideniify during our audil. Use of our report This report is made solely lo the charity's members. &s a b(Kly. in accordance wilh Chapter 3 of Part 16 of the Companies Aci 2006. Our audil work has been undertaken so Ihal 'e mighi stale lo ihe charity's members those matters we are required io siaie lo ihem in an audiio¢s report and for no oiher purpose. To Ihe fullesl extenl permilled by law. we do nol accept or assume responsibilily io anyone other ihan the charil), and ihe charity'5 members as a body, for our audit work. for this report. or for ihe opinions we have formed. John Beacom FCA (Senior Stsiutory Audiior) For and on behalf of Muir & Addy Chartered accountants & slatutory audilor 427 Holywood Road Belfast BT4 2LT 24 (ktober 2025 12
Cahoots Nl Limited Company Limited by Guarantee ststement of Financial Activities (including income and expenditure account) Year ended 31 March 2025 2025 Restricted funds Total funds 2024 Unrestricted funds Total funds Note Income and endowments Granls and sponsorship Charitable activities Invesimenl income Other income 6,850 158.135 2,310 150,940 241.475 248J25 158,135 2?10 150,940 220.973 329.767 2,446 83.293 Total income 318.235 241.475 559,710 636.479 Expenditure Expenditure on charitable activilies Total expenditure 9,10 419.332 230.210 649,542 584,844 419.332 230.210 649,542 584.844 Net (expenditure)lincome and nel movement Rn funds {101.097) 11.265 (89,832) 51,635 Reconciliation of funds Total funds brought forward Total funds carried forward 495.337 13.795 509,132 457.497 394.240 25.060 419JIMI 509,132 Th¢ statement of financial activilies includes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The notes on pages 16 to 26 fomi part of these financial statements. 13
Cahoots Nl Limited Company Limited by Guarantee Statement of Financial Position 31 March 2025 2025 2024 Note Fixed assets Tangible fixed assets 17 152 Current assets Debtors Cash at bank and in hand 18 9.185 413,014 73.659 438.321 422,199 511.980 Credltors: amounts falling due within one year Net current assets 19 3,000 3.000 419.199 508.980 Totsl assets less current liabilities Net assets 419JOO 509.132 419JOO 509.132 Funds of the charity Restricted funds Unrestricted funds 25,060 394240 13.795 495,337 Tolal cbarity funds 21 419JOO 509.132 For the year ending 31 March 2025 ihe charity was eniitled to exemption from audit under section 477 of the Companies Act 2006 relaling to small companies. Directors, responsibilities: The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476- The directors acknowledge their responsibilities for complying wtih the requirements of the Act with respect to accounting records and the prepardtion of financial statements. These fuwicial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and auihorised for issue on 24 October 2025, and are signed on behalf of ihe board by: Lynne Fleming Trusiee owan Trus The notes on pages 16 to 26 fomi part of these financial statements. 14
Cahoots Nl Limited Company Limited by Guarantee Statsment of Cash Flows Year ended 31 March 2025 2025 2024 Cash flows from operating activities Net (expenditure)/income (89.832) 51,635 Adjusimep2isfor.' Depreciation of iangible fixed assets Oiher interest receivable and similar income Interest payable and similar charges Chap7ge5 in." Trade and other debtors Trade and other creditors C&sh generated from operations 51 (2,310) 376 75 (2.446) 333 64,474 5.475 (2,693) 52.379 (27241) Interest paid Interest received Net cash (used inyfrom operating aciivities (376) 2JlO (333) 2,446 (25J07) 54,492 Net {de¢rease)IiDcrease in casb and Casb equivalents Cash and cash equivalents at beginniDg of year Cash and casb equivalents at end of year (25J07) 438J21 54.492 383.829 413,014 438,321 The notes on pages 16 to 26 form part of these financial statements. 15
Cahoots Nl Limited Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2025 General inforniatlQD The charity is a public benefii eniity and a private cornpany limited by guarantee. registered in Northern Ireland and a registered chartty in Northern Ireland. The addre55 of the regislered offic¢ is Unil 3 Otyices. I st Floor. Cityside Retail Park. l (K)-150 York Street. Belf2St. B TI 5 1 WA. Statement of compliaDce These financlal statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and ihe Republic of Ireland,. the Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Taxation The company is regisiered as a charity and is therefore exempt from certain taxation. Basis of preparatlOD The financial statements have been prepared on the historical cost basis. as modified by the revaluation of certain fInancial assets and liabilities and investhient properties measured at fair value through income or expenditure. The financial statements are prepared in sterling. which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to conlinue. Judgements and kry sources of estimation uncertainty The preparation of the fInancial statements requires management to make judgements. estimates and assumptions that affect the amounts r¢ported. These estimates and judgements are conlinually reviewed and are ba5¢d on exrience and other factors. including ¢xpwtations of future events that are believed to b¢ r¢&sonabl¢ under the circumstances. Fund accounting The company is responsible for various of funds which require separate d1105Ure as follows: Restricted funds Funds earmarked by the donor for a specifIc purpose. UDre5tricted funds Funds which are expendable at the discretion of the directors in the furtherance of the objectives of the charity. 16
Cahoots Nl Limited Company Limited by Guarantee Notes to the Financial Statements (contlnu•d) Year ended 31 March 2025 Accounting policies fe0At1•j Incoming resources All incoming resources are included in the sLqlemenl of financial activities when entitlement h&s p&ssed to the charity. it is probable that the economic benefits associated with the transaclion will flow io ihe charity and the amount can be reliably measured. The following specific policies are applied to particular calegories of income: income from donations or grnnts is recognised when there is evidence of entitlement to the gift, receipt is probable and its amounl can measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to me&sure reliably, in which case the value is derived from the cost to the donor or ihe eslimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably me&sured. No amounls are included for the contribution of general volunteers. income from contracts for the Supply of services is recognised wlth the delivery of the contracted service. This is classified as unrestricted funds unless there is a conlractual requirement for it to be spent on a particular purpose and returned if unspenL in which case it may be regarded as restricted. Resources expended Resources expended are recognised in the period in which costs or the expense is incurred. The costs of generating voluntary income include direct costs involved in fundraising. The cost of charitable activilies includes all direct Costs relating to charitable projects and also all overheads with the exception of governance costs which comprise audit and legal advice for trustees and costs associated with constitutional and Stsiutory requirements. Tangible assets Tangible assets are initially recorded al cosL and subsequently ststed at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fatr value at the dale of revalualion less any subsequent accumulated depreciation and subsequent accumulated impaimient losses. Expenditure of a capilal nature relating to specific productions is expensed in the period relating lo that produclion. An increase in the carrying amount of an &sset &$ a result of a revaluation. is recognised in other recognised gains and losses. unless it reverses a charge for impairment thai has previously been recognised as expenditure within the slalement of financial activities. A decre&8e in the carrying amount of an asset as a result of revaluation. is recognised in other recognised gains and losses. excepi to which it offsets any previous revaluation gain. in which case the loss is shown withln other recognised gains and losses on the stalemenl of financial aclivilies. 17
Cahoots Nl Limited Company Limited by Guarantee Notes to the Financial Statements (continuedj Year ended 31 March 2025 Accounting policies (e•ArfnMcdJ Depreciation Depreciation is calculated so as to write off the cost or valualion of an &%set. less its residual value. over the useful economic life of that asset &s follows: Fixtures & fittings 330/0 reducing balance Impairment of fixed assets A review for indicators of impairment is caTried out at each reporting date. with the recoverable amount being estimaied where such indicatOT5 exisl. Where the carrying value exceeds the recoverable amount. the asset is impaired accordingly. Prior impaimients are also reviewed for possible reversal at each Teporting date. For the purposes of impainnenl testing. when it is not possible to estimate ihe recoverable amount of an individual asseL an esiimate is made of the recoverable amount of the cash-generattng unil to which the &sset belongs. The c&sh-generaling unil is the STnallest identifiable group of assets that includes the assel and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairmenl lesting of goodwill. the goodwill acquired in a business combination is. from the acquisition dale. allocated to each of the cash-generating units thal are expecled to benefit from the synergies of the combinalion. irrespective of whether other assets or liabilities of the charity are assigned to those units. Financial instruments A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instnunent. B&sic financial instrumenls are initially recognised at the amount receivable or payable including any related transaction costs. unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future paymenls discounted at a market raie of interest for a similar debt instrumenl. Current assets and cuent liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted. Debt instruments are subsequently measured at amortised cost. Defined contribution plans Contributions to defined conlribution plan5 ar¢ recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an &ssel to the extent that the prepayment will lead to a reduclion in fulure paymenls or a cash refund. 18
Cahoots Nl Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2025 Accounting policies (conrinued) Defined Contribution plans C¢4ntintsed) Ivhen contribulions are not expecled lo be settled wholly within 12 month5 of the end of the reporting dale in which ihe employees render the relaied service, the liability Is me&sured on a discouTtted present value basis. The unwinding of the discount is recognised as an expense in the period in which it ar15es. Limited by guarantee The company is an incorporaied company limited by guarantee. In the event of the company being wound up, liability is limited io £1 per member. Grants and Sponsorship Unrestricled Funds Reslricted Total Funds Funds 2025 Grants Grants receivable 241,475 241,475 Sponsorship Sponsorship 6.850 6,850 6.850 241.475 248J25 Unrestricted Funds Restricted Total Funds Funds 2024 Grants Grants receivable 220.373 220.373 Sponsorsbip Sponsorship 600 600 600 220,373 220,973 19
Cahoots Nl Limited Company Limited by Guarantee Notes to the Financial Statements (conlinuedj Year ended 31 March 2025 Grants and sponsorship (tyynlimiedj The grant income for the year ended 31 March 2025 wa5 received from - Unrestricted Funds Restricted Total Funds Funds 2025 Arts Council of Northem Ireland Belfast City Council Arts & Business Nl Culture Ireland Dom]ant Accounts Fund Nl High Peak theatre Trust Belfast Inlernational Arts Festival 132.981 15,000 6,520 37.087 16,000 25.000 8,887 132,981 Is,0 6,520 37,087 16,000 25,000 8,887 241.475 241.475 The grant income for the year ended 31 March 2024 w&s received from - Unrestricted Funds Restricted Total Funds Funds 2024 Arts Council of Northern Ireland Garfield Weston Foundation Culture Ireland Esme Mitchell Trust Dorniant Accounts Fund Nl 117,872 20.000 61.501 5,000 16.000 117.872 20,000 61,501 5,000 16,000 220,373 220J73 Charitable activities Unreslricted Total Funds Unrestricted Tolal Funds Funds 2025 Funds 2024 Perfonnance fees Merchandise 157.521 614 157,521 614 329.767 329,767 158.135 158,135 329,767 329.767 Investment income Unrestricied Total Funds Unrestricted Totsl Funds Funds 2025 Funds 2024 Bank interest receivable 2,310 2JlO 2.446 2.446 20
Cahoots Nl Limited Company Limited by Guarantee Notes to the Financial Ststements (condnued) Year ended 31 March 2025 Otber fftncome Unreslricied Total Funds Unrestricted Tolal Funds Funds 2025 Fund5 2024 Creative Industries Tax Credits Other income 150.940 150,940 83.275 83.275 18 150.940 150,940 83.293 83.293 Expenditure on ¢haritable activities by fund type Unrestricted Funds Restricted Total Funds Funds 2025 Administraiion expenses Performances Support costs 159,030 256.692 3.610 30 230.180 159.060 486,872 3,610 419.332 230.210 649,542 Unreslricted Funds Restricted Total Funds Funds 2024 Administration expenses Perforniances Support costs 151.190 223.386 3.556 44 206,668 151.234 430,054 3.556 378.132 206,712 584.844 10. Expenditure on charitable activities by activity type Aclivities undertaken direcily Support costs Total funds 2025 Total fund 2024 Administralion expenses Performances Governance costs 159.060 486,872 159,060 486,872 3,610 151,234 430.054 3,556 3,610 645.932 3.610 649,542 584,844 11. Analysis of support costs Trustee meetings Total 2025 Audit Total 2024 Finance costs 3.000 610 3,610 3.556 21
Cahoots Nl Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 12. Net (expenditure)fincome Net (expenditureyincome is staled after chargin(CreditIng). 2025 2024 Depreciation of tangible fixed assets 51 75 13. Auditors remuneration 2025 2024 Fees payable for the audit of the financial slatemenls 3,000 3,000 14. Staff costs The total staff costs and employee benefits for the reporting period are analysed follows: 2025 2024 Wages and salaries Social security costs Employer contributions to pension plans 119,716 4.733 6260 119,711 2.665 5.044 130,709 127,420 The average head count of employees during the year was 3 (2024: 3). The average number of full-time equivalent employees during the year is analysed as follows". 2025 2024 Number of administrative staff No employee received employee benefits of more than £60,000 during the year (2024: Nil). Key MaDagemenl Personnel Key management personnel include all persons that have authority and responsibility for planning. directing and controlling the activities of ihe charity. The iotal compensation paid io key management personnel for services provided to the chariiy was £41.628 (2024'.£39.318). 1 S. Trustee remuneration and expenses No remuneration or oiher benefits from employmenl wilh the charity or a related entity were received by the Irustees. 22
Cahoots Nl Limited Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 31 March 2025 16. Transfers between funds As detailed in note 21, during the year transfers tolalling £180.171 were made from the general fund into several designated funds to support ihe art151ic programme and ongoing charity development in the 2024125 financial year. The forthcoming productions are The Sorcerer's Apprentice, Secret5 of Space in BelfasL Sherlocl Musicians on BreTnen in Belfast and Th¢ Secret Bookshop. By designating funds to support these projects the Trustees aim lo ensure that they are appropriately funded. and that the resources of the charity can be managed effectively. 17. Tangible fixed assets Fixtures and fittings Total Cost At l April 2024 and 31 March 2025 Depreciation At l April 2024 Charge for the year At 31 March 2025 58,509 58509 58,357 51 58J57 51 58.408 58,408 Carrying amount At 31 March 2025 Ai 31 March 2024 152 152 18. Debtors 2025 2024 Prepayments and accrued income Other debtors 479 73,180 9.185 9.185 73.659 19. Creditors: amounts falling due within ODe year 2025 2024 Accruals and deferred income 3,OIMI 3,000 20. Pensions and other posl retirement benefits DefiDed Contribution plans The amount recognised in income or expenditure &s an expense in relalion to defined conlribulion plans w&$ £6,260 (2024: £5,044). 23
Cahoots Nl Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2025 21. Analysis of charitable funds Unrestricted funds At l April 2024 At 31 March 2025 Income Expenditure Transfers General fund The Vanishing Elephant Administraiion & olCe Provision for redundancy The Musicians When We Were Wild The Naturals New Theatre Space The Sorcerevs Apprentic¢ Secrets of Space Belfast Sherlock Musicians of Bremen Belfast The Secret Bookshop 157.501 94.836 20,437 85,000 318235 (166.496) (94.836) (20.437) (180.171) 129,069 85,000 30,0(K) 35,000 (30,(KX)) (35,000) 72.563 (72,563) 35.000 27,242 15.975 35,000 27,242 15,975 26.954 75.000 26,954 75,000 495.337 318,235 <419,332) 394,240 At l April 2023 At 31 March 2024 Income Expenditure Transfers General fund The Vanishing Elephant Administration & office Provision for redundancy The Musicians When We Were Wild The Naturals New Theatre Space The Sorcerevs Apprentice Secrets of Space Belfasl Sherlock Musicians of Bremen Belfast The Secret Bookshop 215,285 113,473 416,IC (221.054) (113,473) (252.836) 94,836 20.437 157,501 94.836 20.437 85,000 85.CKK) 18,605 25.0(K) (18.605) {25.0(X)) 30,000 35.000 30.000 35,000 72.563 72.563 457.363 416.106 (378.132) 495,337 24
Cahoots Nl Limited Company Limited by Guarantee Notes to the Financial Statements (conlinued) Year ended 31 March 2025 21. Analysis of charitsble funds fcontsnmedj Restritted funds At l April 2024 At 31 March 2025 Income Expenditure Trnnsfers Arts Council of Northern Ireland Belfast City Council Culture Ireland Garfield Weston Foundation Esme Milchell Trust Lottery Fund Domiant Accounts High Peak theatre Trust 2,490 148.388 15.000 37,087 (150,818) (15,000) (37.087) 60 11,305 16.000 25.000 {27,305) 25,000 13.795 241,475 (230,210) 25,060 At l April 2023 At 31 March 2024 Income Expenditure Transfers Arts Council olNorthern Ireland Belf&%i City Council Culture Ireland Garfield Weston Foundation Esme Mitchell Trust Lottery Fund Dormant Accounts High Peak theatre Trust 134 117.872 {115.516) 2,490 61,501 (61.501) 20,000 (20.000) (5,000) 16.(KK) (4.695) 11.305 134 220.373 (206.712) 13.795 25
Cahoots Nl Limited Company Limited by Guarantee Notes to the Financial Statements (conllnu Year ended 31 March 2025 22. Analysis of net assels between funds Unrestricted Funds Restricled Total Funds Funds 2025 Tangible fixed &ssets Curreni asseis Creditors less than l year Net assets 41 397,199 {3,000) ioi 422,199 (3,000) 25.000 394,240 25,060 419,300 Unrestricted Funds Restrtcted Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than l year Net assets 62 498,275 (3.000) 90 13.705 152 511,980 (3.000) 509,132 495.337 13.795 23. Analysis of changes in nel debt At At l Apr 2024 C&sh flows 31 Mar 2025 Cash at bank and in hand 438,321 (25.307) 413,014 24. Ethical standards In common with many other businesses of our siz¢ and nature our audilors assisl the charity io prepare and submit returns to the authorities and &ssist wilh the preparation of the financial statements. 26