BELFASThRAD (TRADITIONAL MUSIC AND DANCE SOCIETY) FINANCIALSTATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 Bradley Accounting and Taxation 4 Knockbracken Manor Belfast BT8 6WQ BELFAsrrRAD (TRADITIONAL MUSIC AND DANCE SOCIETY) CHARITY INFORMATION CHARITY NUMBER: NIC 100872 MEMBERS OFTHE EXECUTIVE COMMITTEE Martin Dowling Deirdre Kearns Catherine O'Neill Anne Mariewalsh Kevin Mccullagh Berni Corr Pat O'Hagan Chairperson Vice Chairperson Treasurer Safeguarding Music-co-ordinator Dance Co-ordinator Dance Co-ordinator Data Visu81isation Off icer Deputy Safeguarding Officerl Tutor Liaison Conor Diamond Sile Martin Olivia Adair Christine Dowling Tom Clarke Social Media Off icer Off icer Off icer Nuala McBride Administratorlsecretary ACCOUNTANTS: Bradley Accounting & Taxation Chartered Certified Accountants 4 Knockbracken Manor Belfast BT8 6WQ BUSINESS ADDRESS: BLick Shared Studios 65 Great Northern Street Belfast.BT9 7FL BANKERS CAF Bank 25 Kings HillAvenue Kings Hill West Malling. Kent,ME19 4JQ BELFAsrrRAD (TRADITIONAL MUSIC AND DANCE SOCIETY) CONTENTS COMMIThEE REPORT Page 4 INDEPENDENT EXAMINERS REPORT Page 2 STATEMENT OF FINANCIALACTIVITIES Page 3 STATEMENT OF FINANCIAL POSITION Page 4 NOTES TO THE FINANCIAL STATEMENTS Page 5 BELFAsrrRAD (TRADITIONAL MUSIC AND DANCE SOCIETY) EXECUTIVE COMMIThEE REPORT FOR THEYEAR ENDED 31 MARCH 2024 The Executive Committee present their report and the financial statements forthe year ended 31 March 2024. The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and compLywith the charity's governing document and 'Accounting and Reporting Charities: Statement of Recommended Practice., Status and Administration BelfastTrad (Traditional Music and Dance Society) is a charity under number NIC 100872 and is governed by an Executive Committee (also referred to as Trustees ). The registered office of the charity is located at Blick Shared Studios, 65 Great Northern Street, Belfast, BT6 7FL. Principle Activity The principal activity of the society is to promote and deveLop a knowledge and love of the traditional arts of Irish music, song and dance as practiced l Northern IreLand 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. Itwas formed by a small cohort of like-minded dancers and musicians led bythe set dancer Mary Fox. The goals and ethos ofthe Societyfrom its 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 beingyoung adults and up. The executive committee have paid due regard to guidance issued bythe Charity Commission in decidingwhat activities the Society should undertake. Public Benefit The benefit which flows from the provision of traditional arts of Irish music, songand dance include education. social inclusion 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, singing 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 culture and traditions and the attainment of musical skiLLs. We welcome people of all abiLities. Through the organisation of the performance of traditional music, song and dance and promoting active participation in such arts provides direct benefits of supporting the arts, social cohesion and better heaLth. Achievements and performance Our annual programme for2023-24, supported bythe Arts CounciL of Northern Ireland and Lottery Fundingthrough the Arts Council, consisted this year of an average of43 weekly classes per term with Spring Term 23, Autumn Term 23 and Winter Term 23 all happening in-person at Stranmillis University College. We were deLighted to have a fulL range of music, song and dance cLasses all in-person at the same venue forthe entire year. BelfastTrad aLso heLd a range of special events incLuding 16 workshops in music. dance and song. 4 additionaLworkshops at the BelfastTradFest winter weekend, 3 illustrated lectures, 2 singing sessions, a piper's weekend chair and'ln Conversation With, events with noted practitioners. We also continued our collaboration with GlengLormley School of Music to host 2 children's sessions at the new arts venue at 2 Royal Avenue, Belfast. The Level of participation in our classes and events grew significantLy this year with 765 students attending ourweekLy classes overthe three terms. This is a growth of 4.37% on last year's numbers and our highest student enrolment yet. Almost 800 more people engaged with us at our other events such as workshops, Lectures, sessions. concerts and collaborative events with other organisations. We continue to engage and supportthe local community including schools and encourage aLI members of the public to enjoy the benefits provided from traditional music and dance. Financial Review A statement of financial activities for the year is set out on page 10. The society is a non-profit making organisation. The resuLts are set out in detail on pages 10 and 11. The Society recorded a surplus of £3,387 in the year {2023: £11,751). Income generated from Society activities totalLed £89.33812023: £83,410) of which £37,448 (2023: £31,374) was received from the Arts Council of Northern Ireland. This continues to fund a part-time administrative postwithin the Society. The remaining income was generated from term fees for a range of instrument classes at various levels. individual and set dancing classes. workshops, advanced masterclasses and end-of-term showcase events for our students. The balance of funds at the year-end was £42,365 (2023". £38,969) of which £42,365 was unrestricted. The committee have discussed strategies for reducing any unnecessary expenditure and will applythese in the forthcoming programme of events. Reserves The Committee considers it prudent to hold monies in reserve in the eventthat unforeseen circumstances should lead to financiaL difficuLties which might putthe users, well-being and charitable work in jeopardy. The Committee recognises that in the developing public sectorfundingclimate, 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. Focus for the Future The society now looks forward to growingour programme and our audience overthe next year as we build on the success of this year, helping to consolidate our identity as the leading provider of traditional arts tuition in Belfast's Queen's Quarter and South Belfast and helpingto gain new audiences. Structure Governance and Management The Society was formally constituted in 1991. It is a non-profit making organisation. The executive committee members, who are also trustees for the purpose of charity Law, and who served during the year, were: Tom Clarke Chairperson Deirdre Kearns Vice Chairperson Martin Dowling Treasurer Anne Marie Walsh Safeguarding Kevin McCuLlagh Music-co-ordinator Berni Corr Dance Co-ordinator Pat O'Hagan Dance Co-ordinator Conor Diamond Data Visualisation Off icer Alison Morrow Off icer Christine DowLing Officer Fiona Ni Mhearain Administrator/Secretary (Resigned November 2023) Administrator/Secretary (Appointed November 2023) Nuala McBride Duringthe period under reviewthe Committee met monthlyand the present Committee was approved bythe membership at the Annual General Meeting. Recruitment and Appointment of Trustees Underthe Society constitution the number of trustees forthe purpose of Law shalL not be Less than three and is not subject to any maximum. Trustees are elected to serve onLy untilthe next Annual General Meeting, at which they shall be eligible for re- election. Taxation The Society has no liability to taxation as a result of its charitabLe status. 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 statements for each financial year. Underthat law the trustees have elected to prepare the financial statements in accordance with the Charities Act (Northern Ireland) 2008. Under relevant legislation the trustees must not approve the financial statements unLess they are satisfied that theygive a true and fair view of the state of affairs of the charity and the net movement in funds forthat period. in preparingthese financiaL statements, the Trustees are required to: Select suitable accounting policies and applythem consistently: Observe the methods and principles in the Charities SORP. Make judgements and accounting estimates that are reasonable and prudent" and Prepare the financial statements on the going concern basis unless it is inappropriate to assume the charitywiLL continue on that basis. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at anytime the financial position of the charityand enable them to ensure that the financial statements complywith the applicable law and regulations. they are also responsible for safeguardingthe assets of the charityand hence fortaking reasonable steps for the prevention and detection of fraud and other irregularities. The Executive Committee Report is approved and signed on behalf of the Executive Committee by: Martin DowLing Chairperson Date: BELFASThRAD ITFIADITIONAL MUSIC AND DANCE SOCIETY) INDEPENDENTEXAMINER'S REPORT FOR THEYEAR ENDED 31 MARCH 2024 Independent Examiner's Report of the Committee of BelfastTrad (Traditional Music and Dance Society) We report on the accounts forthe year ended 31 March 2024, which are set out on pages 11 and 12. Respective responsibilities of committee and examiner The charity's committee considerthat an audit is not required for this year (under section 65(2) of the Charities Act 1993 (the Act) and that an independent examination is needed. It is our responsibiLityto: Examine the accounts (under section 65 of the Act). To follow the procedures laid down in the GeneraL Directions given by the Charity Commission (under section 65(9)(b} of the Act) To state whether particular matters have come to our attention. Basis of independent examiner's report Ourexamination was carried out in accordance with general directions given by the Charity Commission (under section 6519){b) of the Act). An examination incLudes a review of the accounting records kept bythe charity and a comparison of the accounts presented with those records It aLso includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as committee members concerning any such matters The procedures undertaken do not provide all the evidence that would be required in an audit and no opinion is given as to whetherthe accounts present a'true and fair'view The report is limited to those matters set out in the statement below. Independent examiner's statement In the course of our examination no matter has come to our attention: 1. That gives us reasonable cause to beLieve that, in any materiaL aspects, the requirements to keep accounting records in accordance with section 65 of the Act: and to prepare accounts which accord with the accounting records and compLywith the accounting requirements of the Charities Act (Northern Ireland) 20081 have not been met; or 2. To which, in my opinion. attention shouLd be drawn in orderto enabLe a proper understanding of the accounts to be reached. 5¢94- Bradley Accounting & Taxation Chartered Certified Accountants Date: 5th December 2024 10 BELFASThRAD (TRADITIONAL MUSIC AND DANCE SOCIETY) INCOMEAND EXPENDITUREACCOUNTFOR YEAR ENDED 31 MARCH 2024 Unrestricted Funds 2024 Restricted Funds 2024 Total Funds 2024 Total Funds 2023 Stripe Income Instrument Hire Box Off ice Other Sponsorship Bank interest Arts Council Grants 50,471 50.471 45,531 650 760 434 211 969 333 117 969 333 117 Workshop/Ceili Expenses Tutor Payments Rent Payable Depreciation Wages and Salaries Training Insurance InstrumentslEquipmenUStorage Administration Expenses MarketingiBranding Telephone Digital Services Accountancy Fees Bank Charges Misc and Refunds Membership Fees 3.376 17,730 3.376 40,050 18.540 355 16,342 290 977 727 2.092 6.170 35,436 26.805 479 15,045 380 1,258 385 480 5,000 386 1.887 660 109 621 60 22,320 18.540 355 16,342 290 977 727 2.092 584 1,699 335 175 584 1.699 335 175 409 409 Surplusl(Deficit) for Year 3.387 3.387 -11,751 BELFAs￿RAD (TRADITIONAL MUSIC AND DANCE SOCIETY) BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 ix Fixtures & Fittings Less Depreciation 21,627 21.627 Cash at Bankand in Hand Debtors-Arts Council Nl Prepayments 53.849 3,416 55,804 4.090 Accruals Net Assets Accumulated Fund Opening Balance- Unrestricted Funds Restricted Funds 38.969 50.720 SurpluslDeficitl for Year 42.356 38.969 These Financial Statements were approved bythe Committee of BelfastTrad and authorised for issue on 6th December 2024. CHAIRPERSON: Martin Dowling TREASURER." Catherine O'NeiLL 12 BELFASThRAD (TRADITIONAL MUSIC AND DANCE SOCIETY) NOTES TO THE FINANCIAL STATEMENTS FOR THEYEAR ENDED 31 MARCH 2024 Note 1 Accounting Policies Accounting Convention The financial statements are prepared underthe historical cost convention and comply with financial reporting standards of the Accountingstandards Board. Turnover Income of The Charity represents monies received from grants and operating activities Tangible Fixed Assets and Depreciation Depreciation is provided at rates caLcuLated to write off the costless residuaL value of each asset over its expected useful life, as foLLows: Fixtures and Fittings- 25 % Reducing BaLance Incoming Resources Donations, Legacies and other income is included in fulL in the Income and Expenditure Account when received. Bank interest received is accounted for on accruals basis. Resources Expended All expenditure has been cLassified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings they have all been allocated to activities on a basis consistent with the use of resources. 13