Belfa5tTrad (Traditional Music and Dance Society) BELFAsrrRAD (TRADITIONAL MUSIC AND DANCE SOCIETY) FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Charity Reference: NIC 100872 McGuire + Farry Limited
BelfastTrad (Traditional Music and Dance Society) YEAR ENDED 31 MARCH 2023 General Information MEMBERS OF THE EXECUTIVE cOMMIEE Tom Clarke Deirdre Kearns Martin Dowling Anne Marie Walsh Kevin Mccullagh Berni Corr Pat O'Hagan Conal Mullan Conor Diamond Robert Cuthbert Alison Morrow Christine Dowling Chairperson Vice Chairperson Treasurer Safeguarding Music Co-ordinator Dance Co-ordinator Dance Co-ordinator Conall Mullan Data Visuali5ation Officer Officer Officer Officer Fiona Ni Mhearain Administrator/Secretary REGISTERED OFFICE Blick Shared Studios 51 Malone Road Belfast BT9 6RY BANKERS Ulster Bank Belfast City Office 2 Branch PO BOX 232 11-16 Donegall Sq East Belfast BTI SUB INDEPENDENT EXAMINERS McGuire + Farry Limited Emerson House Ballynahinch Road Carryduff Belfast BT8 8DN
BelfastTrad {Traditional Music and Dance Society) Contents Pa Report of the Executive Committee Independent Examinerfs Report Statement of Financial Activities Income and Expenditure Account Balance Sheet io Notes to the financial statements 11-16
BelfastTrad (Traditional Music and Dance Society) Executive Committee Report For the Year Ended 31 March 2023 The Executive Committee present their report and the financial statements for the year ended 31 March 2023. The accounts have been prepared in accordance with the accounting policies set out in note I to the accounts and complv with the charity's Eoverning document and "Accounting and Reporting Charities= Statement of Recommended Practice". Status and Admlnistration The BelfastTrad (Traditional Music and Dance Society) is a charity under number NIC 100872 and is governed by an Executive Committee (also referred to as '7rustees"l. The registered office of the charity is located at Blick Shared Studios, 51 Malone Road, Belfast, BT9 6RY. Principle Activitv The principle activity of the society is to promote and develop a knowledge and love of the traditional arts of Irish music and dance and to advance its education in the greater Belfast and district area. BelfastTrad was originally founded as Belfast and District Set Dancing and Traditional Music Society. Constituted in 1991, it was formed by a small cohort of like-minded dancers and musicians led by the set dancer Mary Fox. The goals and ethos of the Societyfrom it5 inception have been to ensure that the shared traditions of Irish music and dance are available to anyone who wants to learn, with classes provided in a welcoming and neutral setting. Our students are aged 5-90. with the majority of our students being young adults and up. We have now completed a full year of classes at Stranmillis University College. This prestigious institution provides the perfert environment for BelfastTrad's traditional arts programrne, and its custom-designed music and dance spaces, set in a spacious tree-lined campus offers our growing membership great parking facilities. a café, performance spaces and more. 2022-23 saw an exciting year for the society wtth a full year of in-person classes, a return to pre-covid enrolment numbers, a growth in programming events, an invitation to Aras an Uachtarain, a studentconcert at Mandela Hall, a rebranding process and morel The Executive Committee have pald due regard to guidance issued bythe Charity Commission in deciding what artivities the Society should undertake. Public Benefit The benefit which flows from the provision of traditional arts of Irish music and dance include education, social illclusion and artistic expression to the people throughout Northern Ireland that participate in the activities. The provision of workshops, classes, lectures and training in all aspects of traditional music and dancing skills to anyone in the area of benefit who wants to learn also provides the benefits of education. greater understanding of our shared tultuie and traditions and the attainment of musical skills. We welcome people of all abilities. Through the organisation of the performance of traditional musit, song and dance and promoting active participation in such arts provides difect benefits of supporting the arts. social cohesion, and better health. Achievements and performan Our annual programme for 2022-23. supported by the Arts Council of Northern Ireland and Lottery funding through the Art5 Council, consisted this year of an average of 43 weekly classes per term with Spring Term 22, Autumn Term 22 and Winter Term 23 all happening in-person at Stranmillis University College. We were delighted to have full range of music, song and dance cla5se5 all in-person at the same venue for the entire year. Be3stTrad also held a range of special events including 16 workshops in music, dance and son& 4 additional workshops at the TradFest Winter weekend, 3 illustrated lectures, 2 signing sessions, our music sessions, a pipe¢s chair and I"In Conversation With" event. We also continued our collaboration with Glengormley School of Music to host 2 Childn.5 sessions at the new arts venue 2 Royal Avenue. The level of participation in oui classes and events grew siBntficantly thisyear with 733 students attending our weekly classes over the three terms. This 15 a growth of 6.4% on last yearfs numbers and our highest student enrolment yet, higher even than our pre-covid enrolments. Almost 800 more people engaged with us at our other events such as workshops, lectures, sessions, concerts, and collaborative events with other organisation5. We continue to engage and support the local community including schools and encourage all members of the public to enjoy the benefits provided from traditional music and dance.
BelfastTrad (Traditional Music and Dance Society) Executive Committee Report For the Year Ended 31 March 2023 Financial review A statement of financial activities for the year is set out on page 7. The Society is a non-profit making organisation. The results are set out in detail on pages 7 to 14. The Society recorded a deficity of £11,751 In the year,12022'. surplu5 of £8341. Income generated from Society activities totalled £83,41012022.' £63,104) of which £35,82412022'. £31,374) was received from Arts Council of Northern Ireland. This continues to fund a part-time administrative w5t within the Society. The remaining income was generated by term fees for a range of instrument classes at various levels, individual and set dancing classes, workshops. oblique masterclasses and end of tem) concertslceili's. In the year under review, the management committee embarked on a iebranding exercise, aplintIng a subcommittee to steer the work of the Boom Clap Play Cornpany to redesign our logo, promotional material, and website. This exercise required an investment of £5,000 from our reserves. The balance of fijnds at the year-end was £38.969 of which £38.969 was unrestricted. The committee have discussed strategies for reducing any unnecessary expenditure and will apply these In the forthcoming programme of events. Reserves The Committee considers it prudent to hold monies in reserve in the event that unforeseen circumstances should lead to financial difficulties which might put the users, well-being and charitable work in jeopardy. The Committee recognises that in the developing public sertor funding climate, competition forfuture grant aid will be even more intense. Free reserves are defined by the trustees as those funds freely available for use as the society so determines and thereby excludes any restricted or designated funds. Focu5 for the future The society now looks forward to growing our programme and our audience overthe next year as we build on the success of this year now we are firmly established in our new venue. We shall launch our re-branding before Autumn Term of this year which will further help consolidate our image and identTty as the leading provider of traditional arts tuition in Belfasys Queen's Quarter and South Belfast and help gain new audiences. Strurturei governance. and management The Society was formally constituted in 1991. It 15 a non-profrt making organisation. The executive committee members, who are also trustees for the purFK)se of chartty law, and served during the year were: Tom Clarke Deirdre Kearns Martin Dowling Anne Marie Walsh Kevin Mccullagh Berni Corr Pat O'Hagan Conall Mullan Conor Diamond Robert Cuthbert Alison Morrow Christine Dowling During the period under review the Commtttee met monthly and the present Committee was approved by the membership at the Annual General Meeting. Recruitment and appointment of Trustees Under the Society Constitution the number of trijstees for the purpose of law shall not be less than three and is not subject to any maximum. Trustees a elected to serve only until the next Annual General Meetin& at which they shall be eligible for re-election. Taxation The Society has no liability to taxation as a result of its charitable ststus.
BelfastTrad (Traditional Music and Dance Society) Executive Committee Report For the Year Ended 31 March 2023 Statement of Trustees, Responsibilities The trustees are responsible for preparing the Executive Committee Report and the financial statements in accordance with applicable law and regulations. Charity law requires the trustees to prepare financial ststements for each financial year. Under that law the trustees have elected to prepare the financial ststements in accordance wrth the Charities Act (Northern Ireland) 21)08. Under relevant legislation the trustees must not approve the financial ststements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the net movement in funds foi that period. In preparing these financial statements, the Trustees are required to.. Select suitable accounting policies and apply them consistently: Obsetve the methods and principals in the Charities SORP; Make judgements and accounting estimate5 that are reasonable and prudent- and Prepare the financial statements on the going coricern basis unless It is inappropriate to assume the charity wlll continue on that basis. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the chariws transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the applicable law and regulations. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detertion of fraud and other irregularities. The executive committee report was approved by the Executive Committee and signed on their behalf by.. Tom Clarke Chairperson Date=
BelfastTrad (Traditional Music and Dance Society) Independent Examinerfs Report To the members of BelfastTrad (Traditional Music and Dance Society) I report on the financial 5tatement5 on behalf of BelfastTrad (Traditional Music and Dance Society) for the year-ended 31 March 2023, set out on pages 8 to 15. Respective responsibilities of charlty twstees and examiner As the charitls trustees you are responsible for the preparation of financial statements in accordance with the Charities Act INorthern Ireland) 2008. Having satisfied myself that the charity is not subject to audit and is eligible for independent examination, it is my responsibility to= Examine the financial ststements under section 65 of the Charities Act Follow the procedures laid down in general direction5 given to the commlssion under section 6519llbl of the Charities Act. State whether particular matters have come to our attention. Basls of independent examinerfs report I have examined your charity financial statements as required under section 65 of the Charities Act and my examination was carried out in accordance with general directions given by the Charity Commi55ion of Northern Ireland under section 6519llbl of the Charities Act. Our examination included review of the accounting records kept by the charity and a comparison of the financial statements presented with those on records. Italso included consideration of any unusual items or disclosures in the financial statements and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any material matters have come to my attention gNing me cause to believe.. The accounting records where not kept in accordance with section 63 of the Charities Act That the financial statements do not accord wwth those accounting records That the financial statements do notcomply with the methods and principles of the Charity Statement of Recommended Practice. That there is further information needed for a proper understsnding of the financial statements to be reached. Independent examinerfs statement I have completed my examination and have no concerns in respect of matters111 to141 listed above and, in connertion with following the direction of the Charities Commission of Northern Ireland. I have found no matters that require drawing your attention. Brian R McGuire FCCA for and on behalf of McGuire + Farry Limited Chartered Certified Accountants Emerson House Ballynahinch Road Cafryduff Belfast BT8 8DN Date=
BelfastTrad (Traditional Music and Dance Society) Statement of Financial Activities For the Year ended 31 March 2023 Unrestrirted Designated Funds Restricted Total Total Funds Funds 2023 2022 Note Income from.. Grants and Oonation5 35,824 3524 31,374 Charitable Activities 47.512 47.512 31,730 Total Income 4712 35,824 83,336 63,104 Ex enditure on: Charitable Activities 22A49 68.889 39,744 Management and Administration 12W7 13.375 26.272 22,526 Total Expenditure 59,337 35.824 95.161 62,270 Net movement in Funds 111.8251 111,8251 834 Fund balances at l April 2022 io 50,720 50,720 49,886 Fund balances at 31 March 2023 io 38,895 38.895 50,720
BelfastTrad (Traditional Music and Dan Society) Income and Expenditure Account For the Year Ended 31 March 2023 Notes 2023 2022 Net Income Stripe Income Instrument Hire Box Office Other Sponsorship Refunds Grants Receivable 45,531 650 760 434 211 35.824 31,324 406 31,374 83,410 63,104 Net Expenditure Workshop/Ceili Expenses Tudor Payments Rent Payable Depreciation- FF&E Wages and Salaries Training Insurance Instruments/EquipmenVStorage Administration Expenses MarketinglBranding Telephone Digital Services Accountancy Fees Bank Charge5 Misc and Refunds Membership Fees 6,170 35,436 26,805 479 15,045 380 1,258 385 480 5,000 386 1,887 660 109 621 60 4,934 31,403 2,915 479 17,807 1,185 13 93 30 449 2,004 660 108 189 95,161 62,270 Surplus/lDeficit} for Year 111,751) 834
BelfastTrad (Traditional Music and Dan Society) Balance Sheet As at 31 March 2023 2023 2022 Notes Fixed Assets Tangible Assets IN 1,897 Currents Assets Debtor5 5,022 9,129 Cash at bank and on hand 55.804 59.171 Petty Cash 60A26 68.3(Kl Creditors: Amounts falling due within one year 23275 19A77 Net Current Assets 3751 48.823 Total Assets less Current Liabilities 38,969 50,720 Income Funds Unrestricted Funds 38,969 50,720 Designated Funds Restricted Funds 38.969 50,720 The notes at pages 11 to 16 form part of these accounts Approved and signed on behalf of the Board of Trustees. NAME: Tom Clarke NAME: Martin Dowling TITLE: Chairperson TITLE: Treasurer Date: Date: 10-
BelfastTrad (Traditional Music and Dance Society) Notes to the Financial Statements For the Year ended 31 March 2023 Statement of Accounting policies The following policies have been applied consistently in dealing with items which are considered material in relation to the Charivs financial statements. 1.1 Nature of the Society The Society is an unincorporated organisation with charFtable ststils. The registered office is Blick Shared Studios, 51 Malone Road, BelFa5t, BT9 6RY 1.2 Basls of Preparatlon The financial statements have been prepared in accordance with the CharItS governing document and "Accounting and Reporting by Charities: Statement of Recommended Practice" 1.3 Incoming Resour5 Grants Grants represent all amounts receivable during the year. Capital grants are included as incoming resources when receivable and categorised within designated funds. Depreciation is subsequently charged against the funds each year equivalent to the rates on the felevant assets in question. Other Income This includes all other income receNed and receivable during the year. 1.4 Resources Expended Direct charitable expenditure This represents all expenditure directly attributable to charitable status. Management and Administration This includes all other expenditure not directly allocated above and a proportion of the overhead costs attributable to management and administration. Overhead Costs Overhead costs arising centrally which are directly attributable to other activities of the organisation have been apportioned to those artivities on appropriate bases. 1.5 Tangible Fixed Assets The cost of fixed assets is their ptjrchase cost. together with any incidental costs of acquisition. Depreciation of fixed assets is calculated to write off their cost or valuation less any residual value over their estimated useful lives a5 follows.. Fixtures & Equipment IO% straight line 11-
BelfastTrad {Traditional Music and Dance Society) Note5 to the Financial Statements For the Year Ended 31 March 2023 Accounting Policies (continued) 1.6 Taxatlon No provision is required for taxation as the Society is defined as a charity for taxation purpose5 1.7 Charitable Funds The Society has various types of fvnds for which it is responsible, and which require separate disclosure. These are as follows= Restricted Funds Grants recetved which are earmarked by the donor for specific purposes. Such purposes are within the overall aims of the OaniSation. Designated Funds The society may at its discretion set aside funds for specrfic purposes which would otherwise form part of the general reserves of the Society. Unrestricted Funds Funds which are expendable at the discretion of the Society in furtherance of the objectives of the Society. In addition. funds may be held in order to finance capital investments and working capital. 1.8 Going conrn At the time of approving the accounts the trustees have a reasonable expectation that the charity has adequate resource5 to continue operational existence for the foreseeable future. Thus. the trustees continue to adopt the golng concern basis of accounting in preparing the accounts. 12-
BelfastTrad (Traditional Music and Dance Society) Notes to the Financial Statements For the Year Ended 31 March 2023 2 Income Unrestricted Designated Funds Restricted Total Total Funds Funds 2023 2022 Grants Received Arts Countil 35,824 35,824 31,374 35,824 35,824 31,374 Other Income Music/Dance Classes Ceilis/Concerts/lnstrument Hire 45,531 45,531 31,324 650 650 Other EventslBox Office 760 760 Sponsorship Donations RefundslBank Errors 434 434 406 211 211 47,586 47.586 31,730 13~
BelfastTrad (Traditional Music and Dance Society) Notes to the Financial Statements For the Year ended 31 March 2023 Expenditure Unrestricted Designated Funds Restricted Total Total Funds Funds 2023 2022 Direct Charitable Expenditure Workshopslcejlj Dance/Music Tutors 6,170 6.170 4,947 24,985 10.450 35A35 31,403 Venue Rentals 14.806 11,999 26,805 2,915 Depreciation 479 479 479 46.440 22.449 6889 39,744 Management and Administration of the charity Wage5 & Salaries Administration Expenses Telephone Marketing/Branding Digital Services Insurance 1.671 13,375 15,046 17,807 480 93 386 386 449 5.OLM) 5,000 30 1.887 1,887 2,004 1,258 1,258 1,185 Bank Charges Misc and Refunds 109 109 108 621 621 Accountancy Training Instruments/EquipmenVStorage Membership Fees 660 660 660 380 385 385 60 189 12,897 13,375 26,272 22,526 14~
BelfastTrad (Traditional Music and Dance Society) Notes to the Financial Statements Forthe Year Ended 31 March 2023 4 Tangible Fixed Assets fixtures & Equipment Total Cost At l April 2022 Additions 21.627 21,627 Disposals At 31 March 2023 21.627 21,627 Depreciation At l April 2022 Charge for the year Released on disposals 19,730 19,251 479 479 At 31 March 2023 20.209 19,730 Net Book Value At 31 March 2023 IA18 1,897 At 31 March 2022 1,897 1,897 Debtors 2023 2022 Debtors 4,090 8,292 Prepayments 932 837 5,022 9,129 6 Credttors: arnounts falllng due wTthln one year Accruals 23.275 19,477 15-
BelfastTrad (Traditional Music and Dance Society) Notes to the Financial Statements For the Year ended 31 March 2023 7 Contingent Liabilities There exists a contingent liabilwty to repay* in whole or part. grants received if certain circumstances as set out in the letter of offer octur5 following receipt of grants. Related Party Transactions There were no related party transactions during the year. Employee Numbers The average number of persons employed by the charity during the year amounted to I12022- 11 10 Movement In Income Funds Unrestricted Designated Funds Restricted Total Funds Funds 2023 Fund balances at l April 2022 50.720 50,720 ProfitllLossl for Year 111.7511 111,7511 Fund Balances at 31 March 2023 38,969 38,969 16-