2025-09-30-accounts

Charity registration number NIC101004 (Northern Ireland)

Company registration number NI614137

IMAGINE BELFAST LTD

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

IMAGINE BELFAST LTD

LEGAL AND ADMINISTRATIVE INFORMATION

Mr Ian Fraser, Chairperson Ms Olwen Dawe Mr Agrippa Njanina Ms Heather Johnson Mr Peter McKevitt Ms Lisa Comerton

Trustees

Mrs Mags White-O'Kane

Secretary

Charity number (Northern Ireland) NIC101004 Company number NI614137

NIC101004

(Appointed 12 May 2025) (Appointed 12 May 2025) (Appointed 12 May 2025) (Appointed 12 May 2025) (Appointed 12 May 2025)

Registered office 46 Hill Street Blick Belfast BT1 2LB

Independent examiner

HM Chartered Accountants 6th Floor East Tower Lanyon Plaza 8 Lanyon Place Belfast Co. Antrim BT1 3LP

IMAGINE BELFAST LTD

CONTENTS

	Page
Trustees' report	1 - 3
Independent examiner's report	4
Statement of financial activities	5
Balance sheet	6
Notes to the financial statements	8 - 16

IMAGINE BELFAST LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 SEPTEMBER 2025

The Trustees present their annual report together with the financial statements for the year ended 30 September 2025.

The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of Accounting and Reporting by Charities: Statement 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) (effective 1 January 2019).

Objectives and activities

Objectives

The company’s objects as set out in its Memorandum of Understanding are as follows:

To promote the arts and culture, and to promote religious harmony and equality and to promote the benefit of the people of Belfast and Northern Ireland without distinction of age, gender, disability, sexual orientation, nationality, ethnic identity, political or religious opinion by associating the statutory authorities, community and voluntary organisations and the inhabitants and in particular:

(a) to encourage appreciation for, the active participation, and to stimulate the artistic creativity of people, in the area of benefit;

(b) to present, promote, organise, manage and produce talks, debates, comedy events, tours, exhibitions, cabaret, film screenings, seminars, conferences, workshops and street theatre; (c) to advance any other exclusively charitable purpose as the directors may, from time to time, decide in accordance with the law of charity.

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Activities for achieving objectives

The company exceeded all its targets in this reporting period having organised a successful festival in March 2025. In planning our activities, we have considered the Charity Commission’s guidance on public benefit to ensure that our activities will help to achieve the charity’s objectives and provide a benefit to our beneficiaries as detailed in the following sections.

From 24-30 March 2025 , we were delighted to present our 11th annual festival involving 121 events and 308 speakers & performers in 50 venues across Belfast attracting an audience of 17,377 in-person attendees and estimated 4,223 online viewers.

56% of our events were free as the festival rolled out an eclectic mix of film, humour, talks, music, poetry, podcasts, theatre, exhibitions, tours, discussions and workshops. This year we featured keynote artists and speakers exploring a wide range of political themes and they included: Cory Doctorow , Lemn Sissay , Jo Caulfield , David Baddiel , Alison Spittle , Matt Forde , artist-in-residence Erin Fornoff , Roman Krznaric , Inua Ellams , Andy Zaltzman , Sinead Morrissey , and two productions by the Colorado-based theatre company TINTS.

The festival also included a number of tours, exhibitions, quizzes, live music and talks from a range of experts exploring the big issues of our time.

The festival explored the theme ‘ Helping You Make Sense of a Crazy World ” encouraging people to stop scrolling and start thinking ; and we programmed a greater number of events designed to engage younger people, the LGBTQIA+ community and the global majority.

This strand included a series of events examining the relationship between music and activism, particularly ska and reggae; a special focus on artistic expression in a digital age and the constant barrage of modern media on our thinking and habits; and the intersection of the climate crisis and growing inequality and injustice across society.

Most of our events were suggested and created in collaboration with the public and long-standing partners. We held a public consultation in October 2024 to help develop the programme and we were delighted with such a highquality response.

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IMAGINE BELFAST LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

In developing this festival, we hoped to deliver the following outcomes, and we are pleased to confirm that we exceeded these projections:

1. A greater appreciation, understanding and exchange by people and communities in Northern Ireland and beyond of local and international political, cultural and reconciliation issues through the organisation of over 100 talks, debates, training workshops, performances and exhibitions.

2. Greater public support for reconciliation, cultural diversity, civic activism and deliberative politics in Belfast and Northern Ireland through our festival programme.

3. The promotion of good relations, cultural diversity and the participation of under-represented groups in civic society through the organisation of festival activities, public participation events, blogs, and workshops.

4. The greater facilitation of political and cultural discussion through the engagement of at least 200 keynote speakers and performers sharing perspectives and learning on a range of contentious and difficult issues such as dealing with the legacy of the past, diversity issues, the climate crisis, and other keynote issues.

We conducted a comprehensive evaluation of the festival through an audience survey involving 510 returns. Our survey found that 98% of respondents felt the festival satisfied their expectations. It was particularly pleasing to find that 54% of audience members were attending a festival event for the first time and 40% of the sample had never been to the festival venue before, which confirms that we were able to reach new audiences and introduce them to new venues and partners. We also asked whether respondents considered themselves to be disadvantaged and found that 22% of the sample considered themselves to fall into this category which suggests were able to significantly engage with vulnerable and less well-off sections of the community.

We also found that 13% of our sample were visiting Belfast/Northern Ireland with 6% stating they lived in Ireland, 4% came from GB, 2% from rest of Europe and 1% from rest of world. For these ‘out of state’ visitors, 18% said that attending the festival was the main reason for their visit to Belfast.

We are also delighted with the quality of the performances in our programme, confirmed by audience feedback and media reviews. We received record media coverage, and our speakers and performers were appreciative of the platform we were able to provide for them.

We are very appreciative of the funding provided by the Department of Foreign Affairs and Trade’s Reconciliation Fund; VSB Foundation; the Arts Council for Northern Ireland; the National Lottery Awards for All Fund; Future Screens NI; Linen Quarter BID; Queen’s University Belfast; Belfast City Council; Open University Northern Ireland; Ulster University and the Community Relations Council. We were pleased to attract a new funder this year in Linen Quarter BID and to increase our ticket income.

Public Benefit

The public benefits that flow from the promotion of religious harmony and equality through the organisation of our inclusive festivals are increased social cohesion, improved good relations and economic conditions. These benefits are evidenced by audience evaluations and box office returns from participating venues.

The public benefits that flow from promoting the benefit of the people of Belfast and Northern Ireland through the organisation of events at the Imagine Belfast Festival include improved recreational, social and economic conditions. These benefits are evidenced by our audience sampling and through the high public attendance at our events. There is no private benefit resulting from the activities of our organisation. The sole beneficiaries are our performers and audiences.

Financial review

Key financial performance indicators

The company continues to deliver a high number of events on a modest income. Over 120 events were organised in 2025. Total income received in the year was £171,530. The surplus for the year was £8,977 after deducting expenditure of £162,553.

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IMAGINE BELFAST LTD

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

Plans for future periods

The trustees are closely monitoring future plans in a difficult funding environment and have decided to run another festival during 23-29 March 2026.

Structure, governance and management

Governing document

The company is registered as a charitable company limited by guarantee and is registered under the Companies Act 2006, as a private company, limited by guarantee (Company number N1614137). It is also registered with HMRC and the Charity Commission Northern Ireland (NIC101004).

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr Don Leeson (Resigned 1 May 2025) Mr Ian Fraser, Chairperson Ms Julie Williams-Nash (Resigned 1 May 2025) Mr Ciáran Hanna, Secretary (Resigned 23 February 2026) Mr Martin Magee, Treasurer (Resigned 23 February 2026) Mr Paul Maxwell (Resigned 1 May 2025) Mr Paul Mulgrew (Resigned 1 May 2025) Ms Juliana Taylor (Resigned 1 May 2025) Ms Olwen Dawe (Appointed 12 May 2025) Mr Agrippa Njanina (Appointed 12 May 2025) Ms Heather Johnson (Appointed 12 May 2025) Mr Peter McKevitt (Appointed 12 May 2025) Ms Lisa Comerton (Appointed 12 May 2025)

Methods of appointment or election of Trustees

The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed. The company has taken the opportunity to develop a new strategic plan and refresh its risk assessment framework.

Organisational structure and decision making

The Trustees met five times during the year with a quorum of at least 4 members. All meetings were minuted with decisions recorded and reviewed at subsequent meetings.

Approved by the board of trustees and signed on its behalf by:

) } ij / | .............................. bn ly Mr Ian Fraser, Chairperson Trustee

Date: 25/02/2026

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IMAGINE BELFAST LTD

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF IMAGINE BELFAST LTD

We report to the trustees on our examination of the financial statements of Imagine Belfast Ltd (the charity) for the year ended 30 September 2025.

Respective responsibilities of charity trustees and examiner

As the charity trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, it is my responsibility to:

• examine the financial statements under section 65 of the Charities Act (Northern Ireland) 2008;

• follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act (Northern Ireland) 2008; and

• state whether particular matters have come to my attention.

Basis of independent examiner's report

I have examined your charity financial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also 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 giving me cause to believe that:

• 1. Accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
• 1. The financial statements do not accord with those accounting records; or
• 1. The financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); or
• 1. There is further information needed for a proper understanding of the financial statements to be reached.

Independent examiner's statement

I have completed my examination and I have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

HM Chartered Accountants

6th Floor East Tower Lanyon Plaza 8 Lanyon Place Belfast Co. Antrim BT1 3LP Date: 25/02/2026

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IMAGINE BELFAST LTD

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Unrestricted Restricted funds funds 2025 2025 Notes £ £ Income and endowments from: Donations and legacies 3 124 - Charitable activities 4 70,670 100,095 Other income 5 641 - Total income 71,435 100,095 Expenditure on: Charitable activities 6 63,708 98,845 Total expenditure 63,708 98,845 Net income and movement in funds 7,727 1,250 Reconciliation of funds: Fund balances at 1 October 2024 61,109 - Fund balances at 30 September 2025 68,836 1,250	Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 124 82 - 170,765 52,869 98,081 641 1,506 - 171,530 54,457 98,081 162,553 38,641 98,081 162,553 38,641 98,081 8,977 15,816 - 61,109 45,293 - 70,086 61,109 -	Total 2024 £ 82 150,950 1,506
		152,538 136,722
		136,722
		15,816 45,293
		61,109

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

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IMAGINE BELFAST LTD

BALANCE SHEET

AS AT 30 SEPTEMBER 2025

		2025		2024
	Notes	£	£	£	£
Fixed assets
Tangible assets	11		5,411		6,620
Current assets
Cash at bank and in hand		128,150		123,895
Creditors: amounts falling due within	12
one year		(63,475)		(69,406)
Net current assets			64,675		54,489
Total assets less current liabilities			70,086		61,109
The funds of the charity
Restricted income funds	14		1,250		-
Unrestricted funds	15		68,836		61,109
			70,086		61,109

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the trustees on 25/02/2026.

..............................

Mr Ian Fraser, Chairperson Trustee

Company registration number NI614137 (Northern Ireland)

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IMAGINE BELFAST LTD

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 30 SEPTEMBER 2025

Notes Cash flows from operating activities Cash generated from operations 18 Investing activities Purchase of tangible fixed assets Proceeds from disposal of tangible fixed assets Net cash used in investing activities Net cash generated from financing activities Net increase in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year	2025 £ (2,599) 468	£ 6,386 (2,131) - 4,255 123,895 128,150	2024 £ (3,192) -	£ 57,434 (3,192) - 54,242 69,653 123,895

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IMAGINE BELFAST LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025

1 Accounting policies

Charity information

Imagine Belfast Ltd is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 46 Hill Street, Blick, Belfast, BT1 2LB.

1.1 Accounting convention

The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement 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)". The charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

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IMAGINE BELFAST LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

1 Accounting policies

(Continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.

Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.

Intangible assets 20% straight line

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers 20% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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IMAGINE BELFAST LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

1 Accounting policies

(Continued)

Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.9 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.10 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3 Income from donations and legacies

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
	£	£
Donations and gifts	124	82

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IMAGINE BELFAST LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

4 Income from charitable activities

Unrestricted Restricted funds funds 2025 2025 £ £ Charitable activities Programme income 17,672 - Performance related grants 52,998 100,095 70,670 100,095	Total Unrestricted Restricted funds funds 2025 2024 2024 £ £ £ 17,672 18,387 - 153,093 34,482 98,081 170,765 52,869 98,081	Total 2024 £ 18,387 132,563
		150,950

Performance related grants analysis

	Charitable	Charitable
	activities	activities
	2025	2024
	£	£
Department of Foreign Affairs; Reconciliation Fund	28,748	28,547
VSB Foundation	30,000	15,000
Community Relations Council	7,000	4,150
Arts Council NI	21,035	9,450
National Lottery Community Fund	9,910	10,000
Belfast City Council	21,500	20,000
Ulster University	7,000	5,000
The Open University	-	5,000
Queen's Univerity Belfast	8,798	6,500
Other	19,102	28,916
	153,093	132,563

5 Other income

	Unrestricted	Unrestricted
	funds	funds
	2025	2024
	£	£
Other income	641	1,506

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IMAGINE BELFAST LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

6 Expenditure on charitable activities

	Charitable	Charitable
	activities	activities
	2025	2024
	£	£
Direct costs
Staff costs	43,755	29,877
Depreciation and impairment	3,340	3,169
Project costs	70,176	70,822
Advertising	37,869	26,374
Postage and stationery	951	529
Insurance	1,125	1,052
Accountancy	1,466	1,180
Sundry	3,871	3,719
	162,553	136,722
Analysis by fund
Unrestricted funds	63,708	38,641
Restricted funds	98,845	98,081
	162,553	136,722

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.

8 Employees

The average monthly number of employees during the year was:

Employment costs Wages and salaries Other pension costs	2025 Number 2 2025 £ 41,761 1,994 43,755	2024 Number 1
		2024 £ 28,454 1,423
		29,877

There were no employees whose annual remuneration was more than £60,000.

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IMAGINE BELFAST LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

9 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

10 Intangible fixed assets

Cost At 1 October 2024 and 30 September 2025 Amortisation and impairment At 1 October 2024 and 30 September 2025 Carrying amount At 30 September 2025 At 30 September 2024 11 Tangible fixed assets Cost At 1 October 2024 Additions Disposals At 30 September 2025 Depreciation and impairment At 1 October 2024 Depreciation charged in the year Eliminated in respect of disposals At 30 September 2025 Carrying amount At 30 September 2025 At 30 September 2024 12 Creditors: amounts falling due within one year Other creditors Accruals and deferred income

Intangible assets £ 27,730 27,730 - - Computers £ 15,844 2,599 (1,458) 16,985 9,224 3,340 (990) 11,574 5,411 6,620 2025 2024 £ £ - 4,068 63,475 65,338 63,475 69,406

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IMAGINE BELFAST LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

13	Retirement benefit schemes
		2025	2024
	Defined contribution schemes	£	£
	Charge to profit or loss in respect of defined contribution schemes	1,994	1,423

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

14 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

		Movement in funds	Movement in funds
	Balance at	Incoming	Resources	Balance at
	1 October 2024	resources	expended	30 September
				2025
	£	£	£	£
Belfast City Council	-	21,500	(21,500)	-
NI Community Relations	-	7,000	(7,000)	-
Future Screens	-	10,519	(10,519)	-
ACNI Lottery Fund	-	21,035	(21,035)	-
ACNI Equipment	-	1,383	(133)	1,250
Department of Foreign Affairs (ROI)	-	28,748	(28,748)	-
National Lottery Community Fund	-	9,910	(9,910)	-
	-	100,095	(98,845)	1,250

Restricted funds are funds received for specified purposes within the overall aims of the charity.

15 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

	At	1	October	Incoming	Resources	At 30
			2024	resources	expended	September
						2025
			£	£	£	£
General funds			61,109	71,435	(63,708)	68,836

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IMAGINE BELFAST LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 30 SEPTEMBER 2025

15 Unrestricted funds

Unrestricted funds				(Continued)
Previous year:	At 1 October	Incoming	Resources	At 30
	2023	resources	expended	September
				2024
	£	£	£	£
General funds	45,293	54,457	(38,641)	61,109
Analysis of net assets between funds
		Unrestricted	Restricted	Total
		funds	funds
		2025	2025	2025
		£	£	£
At 30 September 2025:
Tangible assets		4,161	1,250	5,411
Current assets/(liabilities)		64,675	-	64,675
		68,836	1,250	70,086
		Unrestricted	Restricted	Total
		funds	funds
		2024	2024	2024
		£	£	£
At 30 September 2024:
Tangible assets		6,620	-	6,620
Current assets/(liabilities)		54,489	-	54,489
		61,109	-	61,109

16 Analysis of net assets between funds

17 Related party transactions

There were no disclosable related party transactions during the year (2024 - none).

18 Cash generated from operations

Cash generated from operations Surplus for the year Adjustments for: Depreciation and impairment of tangible fixed assets Movements in working capital: (Decrease)/increase in creditors Cash generated from operations	2025 £ 8,977 3,340 (5,931) 6,386	2024 £ 15,816 3,169 38,449
		57,434

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IMAGINE BELFAST LTD

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025

19 Analysis of changes in net funds

The charity had no material debt during the year.

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