Charfty Registration NIC1009041Kf1684 Company Registration No. N1062936 (Northem Ireland) OH YEAH MUSIC CENTRE ANNUAL REPORT AND FINANCIAL STATEMEiYrs FOR THE YEAR ENDED 31 MARCH 2023
OH YEAH MUSIC CENTRE LEGAL AND ADMINISTRATIVE INFORMATION Trustees G Murray J F Fitch L J McDowdl A McKenna KSBell P Mcclean C G Southern P H Evans Charity number NIc100904I684 Campany number N1062936 Registered office 15-21 Gordon Street Belfast Co. Antrim Northern Ireland BTI 2LG Auditor FPM Accountsnts Limited 1- 3 Arthur Street Bdfast Co. Antrirn Northern Ireland BT14GA
OH YEAH MUSIC CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) FOR niE YEAR ENDED 31 MARCH 2023 The trustees are pleased to present their annual directors report together with the financial st*ÈmeThts of the charity for the year ending 31st March 2023, which are also prepared to meet the requirements for directors, report and accounts for Companies Act purp)ses. The financial statemènts comply with the Charities Act Northern Ireland 2008. the Companies Act 2006, the Memorandum and Articles of A550ciation, and Accounting and Reporting by Charities: Ststement ol Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS102). Chalr's Report Oh Yeah is a centre that encourages the ueation of musiG that captures, shares and applies knowledge, helping build capacty in Northern Ireland's rnusic sector. It creates resonant community projects and outreach and, although it is often perceived as being a creative hub for young people, It engages with people of all ages who are from a wide variety of backgrounds and have a diverse range of musical interest and passion. At the heart of Belfasys Cathedral Quarter, the centre is dedicated to telling the remarkable Story of Nl musi4 to maintain that legacy and to grow the reputation. Oh Yeah open5 doors to music and thu5 the centré is alive, busy and active in supporting people who share a love of music and want to listen, play, perform or produce. It is a dedicated music hub. a place of welcorne for all ages, backgrounds and genres. This is at the corq the hear¢ of Oh Yeah's operation and business for we are a business. and we have to deal with the same challenges faced by all business in the country. At the same time, we are aware that any change to funding and income, any rise in costs impacts not only on our seNice5 and programmes but may deny someone's chance to flourish and nurtu their creative spark. It remains therefore. a key obiective for the Board of Trustees and Oh Yeah's staff to tske any measure possible to lessen the impact of business decisions on the creative work and on those who matter most, the music lover& Much greater detail as to how we manage the business in continuing difficult times is contained wtthin the body of this report that highlights also, as it should, the range of creative achievement in Oh Yeah over the past twelve month5 and the Succe of the support offered by our staff to people from all walks of life who come through our open door. Paul Evans Chair. Oh Yeah Music Centre. March 2023
OH YEAH MUSIC CENTRE TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Oh Yeah Ifision The belief is that music is one of the great resources in Northem Ireland, a catalytic agent that changes lives for the better, The purposes of the charity are.. Oh Yeah 15 established for the advancement of the arts, and in particular music in Northern Ireland by. A. Celebrating estsblished acts and to broadpn the music industy Skill base. B. Promoting a growing number of infomied 5uccessfiJl and expressive voices rising from the local music scene. C. Encouraging artists to use Northern Ireland as their horne base D. The encouragement of a creative music community through acces5 to quality facilities, peer supporr education in the field of music and critical miew. E. Facilitating music-makers of all ages and backgrounds within Northem Ireland. F. Setting up a sustained programme of outieach and 5UPPOrt G. Fostering awarene and an appreciation of the Northern Ireland music heritage though exhibition5, archives and interpretative works. The Oh Yeah Music Centre is a dedicated music hub in the Cathedral Quarter, 8elfast's cultural distrirt. It is resource for music arKd the business of music. Housed in a three story building it features a free music exhibition. a café and venue space and a welcoming attitude to anyone who wants to know more about music and what it can achieve. Oh Yeah is home to 11 musidcreative organisations, plus a recording studio and affordable rehearsal rooms. The building hosts live events, workshops and training sessions, summer schemes and sowriter sessions. Various programmes are in place to grow and mentor new talent and to sustain rnusicians of all ages. We work in partnership with youth, charity, community, arts, media and music industry organisations. We develop new talent release compilations of new music and coordinate events like Sound of Belfast. The NI Music Prize and Women's Work. A series of autreach programrnes has given training to disadvantaged young people and we have a strong programme far older people. Our vision is to bring out the best in people through muslc r key activities can be broken down Into the following areav. Promotion and celebration of exception31 Nl talent through the Northern Ireland Music Prize and Sound of Belfast Live music venue for original and local talent events programrning, rehearsal facilities and room hire. Outreach - Youth and older people programmes. diversity and equality through mus1C. Nl Music Exhibition and Belfast Music Bu5 Tour- Music Tourism and Heritsge. Music Industry/creative enterprise incubationloffice units. Talent DeveloprnenL ski115 development and mentoring. Performances and showcasing (festivals, conferences} Advocacy, consuftstion and conferences. Local. national and international partnerships.
OH YEAH MUSIC CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH a723 our volteers. The Oh Yeah Music Centre has a small core team and provides a 5everFday facility and therefore relies on voluntary help. We have a CDre team of 10 volunteers who devote time and energy to the project wtth a wider base of 15 volunteers that assist with stewarding events and perfomiances, rehearsal room opening at weekends and late nights as well as reception and day time 5UPPOrt in the cafe space. This enables longer opening hours and lower staff cost5 than would otheMise be the case. Most of the volunteers are music fans or musicians themselves. They are dedicated and we thank them for their loyal support and Service. The amount of time donated by volunteers this year increased as we started to retum to live events with a dedicated recnjitment drive for speciffc events and roles such as Women's Work. rehearsal rooms and Sound of 8elfa5t. Donated hour5 in total equate to around 1000 hours voluntsry time this includes the time donated by our dedicated board. Our Values Promote equality for those who share our vision and actively reach out to people who are disadvantaged or excluded from the music industry. Open to new ideas and inventive solutior15 and take risks regarding innovation and creativtty. Support and promote our music and musical heritage and offer advi and support in progressing through the joumey in the music sector. Remain faithful to our vision, and ensure music exists as the core driver in our mission to transfDrm lives. Remain independent and confident and strive to bring joy into communities through music Offer time and help to everybody who comes through the door5 of Oh Yeah and engage with people from all ages and music interests. Principle5 Not exploit partlCiP8nts or stakeholders and act with integrity at all times. Mutually accountable to each other wfthin the organisation, a5 well as openly accountable to participants, funders and stakeholders. Operate under high standards of govemance. Dedicated focus on quality and standards throughout the organisation, with access to high quality training. contacts and knowledge.
OH YEAH MUSIC CENTRE TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Strate Ic Alms" The Oh Yeah Centre has four main strategic aims that guide the organisation. Under each of these four aims, a number of objectives have been formulated to ensure focus is maintained and the mission of Oh Yeah is upheld through all artions. 1. Promote To raise awareness and promote Nl Music but also the Oh Yeah professional expertise regarding consulting and programming in the music sector, and promote Oh Yeah as the leading organlsation for developing the music sector in Northern Ireland. 2. Indude Through an active outreach programme Oh Yeah will ensure to include all types of music. and involve all types of people in our work. 3. Develop Oh Yeah will develop music and related industries in Northem Ireland, by providing excellent facilities, acce55 to world-cla55 tuition, peer support and critical review, and dedicated tslent development programmes for artists. 4. Strengthen Oh Yeah will work to Strengthen its resources, capacity, finances staff, musicians and wider community and contribute to the strengthening of the music and arts sector, working with others to promote music as beneficial to health and well being, the economy, tourism, education and enterprise. Main Risk Fartors April 2022 - March 2023 The centre enters the 15th year of operation in 2021 leaving 5 years left on the lease. Conversations have stsrted with the landlord and they havè indicated they may sell the building and will consider an offer from Oh Yeah,. this negotiation will begin later in 2023. Oh Yeah is looking into options to purchase and have identified 213 sources including Peace Plus and Community Ownership Fund, these will go live last in 2023. Oh Yeah ha5 applied to Dormant Fund5 for £100k towards sustainability, fundraising and strategic planning, this work will contribute to the plans for purchase and refurbishment, The Bar and venue went back to full operations in 22123 and we are 5tsrting to See a retum to p pandernic income levels, however the C05t of living crisis has impacted on associated costs. Oh Yeah reviews these changes on a regular basis to ensure it can cover any rising costs while also remaining accessible to audiences and communities, a difficult balance which is why funding is so important. Cuts to fijnding and the lack of an executive still remain one of the biggest risks for an organisation like Oh Yeah. Therefore Oh Yeah continues to seek alternative options in increasing self-generated income from commercial areas of the centre such as bar income and room hire. Room hire has gone up again and the calendar has been healthy this year. The licence agreement with the Harp Bar ended in July with no issues. oh Yeah management team have continued to meet with the board to monitor and review all orFgoing issues - professional support, funding and regular reviews have helped mitigate any risks.
OH YEAH MUSIC CENTRE TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Environmental Awareness. Oh Yeah is an ethical organisation and will prioritise being a greener more environmentally friendly place of work and public space. EKplorlng sustainable ways to change the culture of the centre and its users through policy, cCling, and good practice. Our refurb plans includes sustainable wcrking, reducin9 carbon footprint and energy saving plans. A full audit and plan will be under way in late 2023. Achievements and erformance in 2022 Between April 2022- March 2023 -a summary of some of the highlights and notable achievement5: Oh Yeah completion of the More Volume Project in Marth 23 completed later in the year. Year three of YouTube partnership leading to £47k in sUPPOrt for Sound of Belfast NI Music Prize and Talent Development Raised £5k from the raffle of the John Lennonlyoko Ono 50th anniversary - this led trj launch of Carol Clerk bursary. TNI and Tl £35k to support the produttion of contert at NIMP/SO8 PPS for Music name a room after Oh Yeah in London. Finished full PA install in main venue. Elevate Youth, Open Mic and Volume Control all dolng very well youth programming and outreach engagement is strorng. Sound of Belfast the best year so far. great feedbad¢ and good attendances. Ottilie Patterson event and bursary. Nl Music Prize at the Ulster Hall and was recorded by Mike Edgar Production and broadcast live on BBC Radio U15ter. Oh Yeah CEO, contribution to ten-year Cultural strategy work. Updates architect plans, completion of a valuation POrt of the buildin9, preparntion and application to dormant funds. report and ewaluation will be
H YEAH MUSIC CENTRE TBUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 3 T MARCH 2023 Financial Perforrnance: The bar made it's first donation to the charity accounts. but it won't be until next year we see the benefits of this donation. YouTube, TNI and BCC support for NIMP was helpful, however given the slow return to nprmality last year and in the early part of this year the impact of covid and cost of living crisis sees Oh Yeah go into a deficit, thus having to Use some reseNes, however on-going cash flow is gDOd. Financial Review The Oh Yeah Music Centre continues to review and refine its financial processes and accountability as its business develop5 and diver5ifie5. Oh Yeah staff are more confident with Xero and it has made reporting easier and much more comprehensive. The Trustees acknowledge the outcome of the external auditors, report and will continue to review and improve its processes as appropriate. The challenge, as for many orgBni5ations like Oh Yeah, at this time is to ensure its financial viability for prudent actiwtie5 and resource consumption. Despite the increasing pressure on public fijnding. the cost of living crisis and the uncertainty wound lack of an Executive the Trustee5 understand that annual fijnding from the Arts Council for Northern Ireland for Oh Yeah was standstill. an additional £1 Qk was awarded in the early part of 2023 after revision of femaning ACNI funds. This was helpfijl but Oh Yeah has made it known that core funding needs to be increased to meet the growing costs and inflatiork We are a Belfast City Council ANCHOR tlient and this means commitment of £56,000 for the next l year in annual fvnding. Preparation for another 4 year5 begins in Oct 2023 with a view to applying for £66k per year. Oh Yeah also received an additional £10k from ACNI to our core funds. PRS Foundation support extended to another year as Talent Development Partner with an award of £21,000 for the year. Oh Yeah has applied to Dormant Funds for £100k we will know more after this financial year but il successfvl it will support plans for 3 fundraising strotegy, diversifylng income and future proofing including purchase and refurb wor All relevant policies including child protection, access, health, safety, risk and fire policies are in place and due for revision later this year. Wrth these various plans and policie5 in place and an on-going strong, credible and reliable programme and team of staff, the Trustees are confident that the Oh Yeah Music Centre can continue to perform eff&-tively. efficienty and financially. Oh Yeah senior management Continue to review finances at every board meeting. This is a priority along with budges costs and income Streams.
OH YEAH MUSIC CENTRE rRUSTEES' REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) KOR niE YEAR EJVDED 37 MARCH 2023 0r Pricin Poli 0r pricing policy fleCts our strategy of enabling all withrn our community, whatever their means, to take part in our activities, to attend our gig5 and to view our exhibitions. Our Music eKhibition 15 free. The Music Bus Tour is set at a low cost and irKludes a concession rate. Most of our local music events cost in the region of £7/£10 door entry- We try to en5urc workshops and conferences are free as long a5 project llding 15 secured. We are conscious of the creattve and music sector entrepreneurs needing support as start-ups or Micro businesses and keep office rentsl well bilow city centre rates. We also offer coffiplimentsry ticket to community and partners for high profile event5 to improve acce55 and encourage participation. We are working on a fetrpaying programme for after school Music projects,- this will come into play Sept 2023. While we also need to find ways of being more 5UStainable, we believe that ensuring aCsS and participation can be balanced thrc)ugh our bigger events and larger audiences. Over 18s events can generate more income through bar sales and the cafe. We charge for room hire, weddings, meetings, conferences and extemal promoters rate5. We also gerrate through our tenants, the rehearsal rooms. consultation and training fees, bespoke programming and trdining and facilitstion fees. Plans for future period (Aprl 2023- Marth 2024): Sound of aelfast and Nl Music Prize at the Ulster Hall - Paul Brady to be presented with Legend Award and Joe Cassidy Chrysalis award with partners from Chicago. Women's Work will continue as a series of events instead of a festival Volume contral. Scratch My Progress Music and Older People projett x 2. Presence at TGE and SXSW Environmental 5UStainability audit and plan. Apply to Pea Plus, COF and other opportunities for capital funding for full renovations of rest of buildirFg. Continue to advorate and lobby for support for music and musicians - push for long-term Strategy. Make offer to the Landlord to start purchase negotiatlOllS. Explore options for rnore cross border working and partnership Re5erve5 Poficy. Oh Yeah aims to ensure a reserves poliry of six-month period of business continuity for the operational scale of the orjr ani5ation. The level we aim for to cover a 6 month period is £150,000. Oh Yeah aspires to do this through a separate account and aim to deposit any unrestricted commercial income generated on monthly basi5, aiming for £IOOO per month. Thi5 has not been possible to start in thi5 Current year but reserves are healthy at the moment.
OH YEAH MUSIC CENTRE TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR EIVDED 37 MARCH 2023 Trustee indurtion and training New Trustees are invited to a board meeting as obseNer before becoming fully incorporated as a mÉmber. DLJring that time, they meet with the Chair and key stsff to be briefed on.. their legal obligations Lnder charrty and company law, the Charity Commission guidance on public benefit, and are given a board indLtction pack which includes the Memorandum and Articles of Association, the business plan, and rent financial performance of the charity- Oryanisation The board of trustees administers the charity. The board meets six/seven time5 per year with sub mmIttee meetings regarding finances in November and April ahead of audit, annual budget and new financial year. A chief executive is appointed by the trustees to manage day-to-day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and artistic industry and creative related activity. Pay policy lor senior staff The directors, who are the Oh Yeah trustees, give their time freely and no director receives remuneration for their work with the charity, other than out of pocket expenses and travel. Dependent on funding, the pay of senior staff is reviewed annually and nomially InCaSed in accordance with average eamings. In view of the nature of the charity, the director's benchmark against pay levels in similar sized arts organisations and by using the NICVA Pay Scale guidance notes for community and vcluntary settor organisations. Structure. Governance and Management The Oh Yeah Music Centre is a company limited by guarantee governed by its Memorandum and Artide5 of Association dated 31st January 2007 and vIsed/uPdated on 29th September 201S. It is a registered as charity with the Charity Commission. The Oh Yeah Music Centre has a Board of Trustees, each of whom brings a range of professional ski115 to ensure that the mission of the organisation is achieved within a Strong governance framework. The Board has close and effective links with a range of organisations that provide elements of govemance supwrt through network opportunities and training activities. The Board generally meets six/seven times per year and receives activity reports and a financial report within a wider pack of papers including agenda and minutes. Its Chief Executive who reports to the Board every six/eight weeks manages the Oh Yeah Music Cent operationally. The Centre also employs a full-time Operations Director, FT Youth Engagement Manager, PT Music & Older People Manager, Ff Talent Development Manager, PT Finance AssistsnL and tsvo part-time venue 5tsff, a Duty Manager and there are 4 bar staff on U0] contracts. For public events, the Oh Yeah Music Centre a150 has access to a pool of trained volunteers, duty managers and casual bar staff.
OH YEAH MUSIC CENTRE TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR EAIDED 31 MARCH 2023 The directors of the charitable company Ithe charityl are its trurtees for the purposè of charity law. The trustees serving during the year and since the year-end were as follows: (Board - as Df this financial reporting year- 1 st April 2022 - 31rt March 20231 G Murray J F Fitch L J McDowell A McKenna KSBell P Mcclean C G Southem P H Evans Responsibilities of the trustee The Trustees (who are also the directors of Oh Yeah Music Centre for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and regulations. Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United fingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under company law the trustees must not approve the finanaal statements unless they ara satisfied that they give a true ar fair view of the 5tste of affairs of the charitable company and the income and expenditure of the ckpritable company for that period. ststement as to disclosure to our auditors: In so far as the trustees are aware at the time of approving our trustees annual report There Is no relevant information, being information needed by the auditor in connection with PParing their repo¢ Df which the auditor is unaware, and The trustees, having made enquiries of fellow directors and the auditor that they ought to have individually taken. have each taken all rteps that helshe is obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor 15 aware of that infomation. Auditor In accordance wrth the compan5 artides. a resoILrtion proposing that FPM Accountsnts Limited be reappointed as auditor of the company will be put at a General Meeting. The Trustee5' report was approved by the Board of Trustees. Piza> P H Evans Trustee Dated.. Q..(.lJ.iJ.zn3
OH YEAH MUSIC CENTRE STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 The Twstees, who are a150 the directors of Oh Yeah Music Centre for the purpose of company law. are responsible for preparing the Trustees, Report and the financial ststements in accordallce with applicable law and United fingdom AccoLJnting Standards (United Iingdom Generally Accepted Accounting Practice}. Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the State of affair5 of the Charty and of the incoming r250urces and application crf resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Trustees are required to= select suitable accounting policie5 and then apply them consistentty- observe the methods and principles in the ChaTitie5 SORP; make judgements and estimates that are reasonable and pruden¢ and prepare the financial statements on the going concern basi5 unless it is inappropriate to presume that the Charity will continue in operotion. The Trustees are responsible fDr keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statunents compty with the Companies Act 2Q106. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularitie& *n_