Sticky Fingers Arts company lirnited by guarantee. nol having a share capital) Annual Report and Unaudited Financial Statements for the financial year ended 31 March 2024 John Macmahon & Co Chartered Accountants and Registered Auditors 112 Camlough Road N&wry Co. Down BT35 7EE Northern Iland Company Number: N1044255 Charity Number: 101275
Sticky Fingers Arts (A company limited by guarantee, not having a share capltall CONTENTS Page Reference and Administrative Infomiation Trustees, Annual Report Slatemenl of Trustees, Responsibilities Independent Examiners Report Statement of Financial Activities Balance Sheet 10 Notes lo the Financial Statements
Sticky Fingers Arts IA company limited by guarantee. not having a share capttall REFERENCE AND ADMINISTRATIVE INFORMATION Trustees David Hanna Helena Young Alffie Magill (Appointed 16 September 20231 Stephen Anthony Mcclelland IAppointed 14 Decembei 20231 Cathal King (Appointed 14 December 20231 Brian Cleland (Appointed 14 December 20231 Tracey Caroline Crossan (Appointed 16 September 2023, ResKJned 10 December 20241 Daniel Gebski (Appointed 14 December 20231 Anne Marie McGourty (Appointed 14 December 20231 Company Secretary Helena Young (Appointed 14 DecembeT 2023} Grainne Powell (Resigned 14 December 20231 Charity Number in Northern Ireland 101275 Company Registration Number N1044255 Registered Office and Principal Address The Imaginarium 10 Upper Edward Street Newry Co. Down BT35 6AX Northern Ireland Independent Examiner John Macmahon & Co Chartered Accountants 112 Camlough Road Newry Co. Down BT35 7EE Northern Ireland Principal Bankers Ulster Bank Limited 86 Hill Street Newry Co. Down BT34 1 BT Northern Ireland
Sticky Fingers Arts IA Company I1[ted by guarantee. not having a share capliall TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 The trustees present their Tiustees, Annual Report, combining the Directors, Report and Trustees, Report, and the unaudited financial slalements for the financial year ended 31 March 2024. The financial slalements are prepared in accordan with the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charilps.. Statement of Recorllmended Practi applicable lo charities prepaTing their financial statements in accordance wf(h the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Trustees, Report contains the information required to be provided in the Trustees, Annual Report under the Statement of Recommended Practi (SORPI guidelines. The Iruslees of the company are also charity trustees for the purpose of charity law and under the compan$ constitution are known as members of the board of trustees. In this report the trustees of Sticky Fingers Arts present a summary of its purpose. governan, adivities, achievements and fInanS for the financial financial year 31 March 2024. The company is a registered Charity and hen the report and results are presented in a fomi which complies with the requirements of the Companies Act 2006. Misslon, Objectives and Stratsgy Objectives Aims- To advan education and promote the arts for the benefit of children, the beneficiartes primarily, but not exclusively in Northern Ireland. - Advance education and promote the arts for the benefit of the wider community across Northem Ireland. Promote and assist others in the promotion of educational and re¢ational PTogrammes designed to engage children and the wider community in the arts, and especially those in need as Tesult of adverse social, economic geographical or cultural circumstances and conflict as a result of disabilrty or infirmity. Promote and provide quality environmental arts projects and to provide the opportunity and support for chiklien lo lake the lead in the development of their cities and COFnmunities by working with local government, business and the art lo create positive regeneration of theiT local area by engaging in creatNe and arts-based activity and events. Foster international Telationships and thildren's and young people'5 lights to promote and lobby for stslulory agencies at all velS and adhere lo UNICEF policies. The key aim of the organizalion is lo promote and provide qualty arts and culbjral experiences and opportunities for young children and the wider community. Ensuring our work delivers OUT aims, objectives and activities each year. This reVW look5 al what we achieved and the oulcornes of our work in the Pfevious 12 months. The review looks at the success of projects and the program and the outcomes of each element. The review also helps us to ensure OUT aims, objectives and activtties are focused on our slated purpose. Compliance with Public Benefit The Charrty Trustees have had regard to the Charity Commission for Northern Ireland's statutory public bènefit guidan lo ensure that activ((ies entered into during the year have helped to achieve the charitys aims and objectives as well as providing public benefft. Structure, Governance and Management structure Sticky Fingers Arts has a Board of Trustees not less than 2. All strategic and operational management decisions are the re5ponsibilily of the Iruslees. Governance Sticky Fingers Arts is a private company limited by guarantee and does not have share capital. 11 is governed by a memorandum and articles of association. Appointment of Trustees The Trustees of the u)mpany are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Arti¢les of Association the trustees are elected to serve for a period from one Annual General Meeting lo the next. Review of Activitie5. Achievements and Perfom7ance Sticky Fingers Arts are now an established children's arts organisaliDn with a ieputstion for producing and creating high quality professional arts projects locally, nationally and inleinationally. Ouring the financial year ended 31st March 2024, the organisalion expellend a change in the funding offered which
Sticky Fingers Arts IA ¢ompany limited by guarantee, not having a Sha capital) TRUSTEES. ANNUAL REPORT for the financial year ended 31 March 2024 sulted in the organisation taking time to regroup and carefully devise a new strategic way fonNard. The organisation made a decision to take time out from the normal programming lo carry out community consultations and explore how the organisation can continue lo grow with clear and concise priorities and vision for the future. The year was very productive as new partnerships were established wilh a renewed focus on the income generated Ihrough the social enterprise element of the organisation, working towards becoming self-sufficient and less reliant on Government Funding. Although the income during the financial year was considerably less than previous years, due to a reduction in programming costs, the organisation took this time to focus on creating a new plan for 2025-2030 and spent less time fundraising and on service delivery. 2023-24 provided essential space and time to evaluate the work to date and develop new ways of working., setting new targets and developing a new plan to take the organi5ation forward. bui5ding on the SucsS of the organisation to date and preparing for the next chapter. Sticky fingers continues lo create and provide quality, age appropriate arts, cultufftl and creative play eXperIenS for young children across Northern Ireland and the border counties. Sticky Fingers will a150 continue lo provide a frontline service to a specific audience (children from O to 18 years). We will continue to deliver a Servi that no other organisation delivers arTrd provide5 a service in an area where no other organisation provides a similar SeICe. We will build on the success of the Imaginarium as il continues to grow, attracting more visitors and offering more activities and services at a regional level. The organisation has continued to provide a front-line Servi to children and young people in the Newry and border area, ensuring that the work with special needs groups continued throughout the year uninterrupted. During the financial year, the charity continued lo provide one lo one support programs and educalion initiatives for children with additional needs, both in the Centre and within school settings. These activities aim to support children and young people who are struggling with mental health, development delays or family crISs,. they were delivered in partnership with both health and educab'on agencies. The board wish to convey their sincere thanks to all who contiibuted their wonderful efforts and generosity to the organisatOn. Flnanclal Revlew The results for the financial year are set out on page 9 and additional notes are provided showing income and expenditure in greater detail. Income The charity had total income of £200,160 in 2024 compared to £381,657 in 2023. Expendlture During the financial year £219,16312023'. £360,490) was spent on charitable activities. Flnan¢lal Rosults At the end of the financial year the company has assets of £194,190 12023 - £230,810) and liabilities of £76,736 12023 - £94,353). The net assets of the company have decreased by £{19.0031 Reserv05 Position and Policy The reserves policy was agreed following an analysis of the following four factors -Forecasls for levels of income in future years taking into account the reliability of each Sour of income and the prospects for opening up new sources. -Forecasls for expenditure in futuro years on the basis of planned activty., -Analysis of any future needs, opportunities, contingencies or risks, the effects of which are not likely to be met out ol income if and when they arise., and -Assessment of the likelihood of each of those needs and risks matèrialising and the potents'al consequen8 of the charity not boing able lo meet th8m. The charity's policy is to maintain a level of free reseNes which meets the needs of the Charity both at the current time and for the foreseeable future. Free reserves are ils total funds excluding restricted funds. designated funds. or income fund5 which can only be released by disposing of fixed assets held for charity use. Total resetves at the end of the financial year were £117,454 of which restricted was £57,662 and unrestricted of £59,792.
Sticky Fingers Arts IA cornpany limited by guarantee, not having a share capitall TRUSTEES, ANNUAL REPORT for the financial yeaT ended 31 March 2024 Trustees The trustees who served throughout the financial year. except as noted, were as follows.. David Hanna Helena YL)ung Alifie Magill {Appoinled 16 September 20231 Stephen Anthony Mcclelland (Appointed 14 December 2023} Cathal King IAppointed 14 Dember 20231 Brian Cleland (Appointed 14 December 20231 TraY Caroline Crossan (Appointed 16 September 2023, Resigned 10 Dernber 20241 Daniel Gebski (Appointed 14 December 20231 Anne Maiie McGourty IAppointed 14 Dembe1 20231 The secretaries who served during the financial yea¥ were.. Helena Young (Appointed 14 December 20231 Grainne Powell (Resigned 14 December 20231 Compliance with Sector-wide Leglslatlon and Standards The company engages pro-actively with legislation, standards and codes which are developed for the sector. Sticky Fingers Arts subscribes to and is compliant wrth the following". The Companies Act 2006 The Charities SORP IFRS 1021 Approved by the Board of Trustees on 28 January 2025 and signed on its behalf by: David Hanna Trustee
Sticky Fingers Arts IA company limited by guarantee, not having a share capitall STATEMENT OF TRUSTEES, RESPONSIBILITIES for the financial year ended 31 March 2024 The trustees, who are also directors of Stid(y Fingers Arts for the purposes of company law, are responsible for preparing the financial statements in accordance with applicable law and regulations. Company law requires the trustees as the directors lo prepare financial statements for each financial year. Under that law the trustees have elected lo prepare the financial slalemenls in accordan wf(h United Kingdom Generally Accepted Accounting Practi (United Kingdom Accounting Standards and applicable lawl including FRS 102 'The Financial Reporting Standard appli(able in the UK and Republic of Sreland" Section 1A (Small Enliliesl. Under company law the trustees musl not approve the financial slalements unless they are satlsfied that they give a true and fair view of the slate of affairs of the company and of the surplus or deficit of the company for that period. In preparillg these financial statements, the Iru51ees are required lo.. select suitable accounting policie5 and apply them consislenlly., make judgements and estimates that are reasonable and prudent.. state whether the finanaal slalements have been prepared in acco{dan with the relevant financial reporting framework. identify those standards, and note the effect and the reasons for any material departure from those standards., and prepare the financial statements on the going concern basis unless il is inappropriate to presume that the mpany will continue in operation. The trustees confirm that they have Complied wrth the above requirements in preparing the financial slalemenls. The trustees are responsible for keeping adequate accounting records that are sufficieril to show and explain the company's transactions and disclose with reasonable accuracy al any lime the financial position of the company and enable them to ensure that the financial statements comply with the Companies Aci 2006. They a also responsible for safeguarding the assets of the company and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Board of Trustee5 on 28 January 2025 and signed on its behalf by: LIL David Hanna Trustee
Sticky Fingers Arts IA company lime by guarantee. nol having a sha ¢apttall INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF STICKY FINGERS ARTS We have examined the financial statements of the company for the financial year ended 31 March 2024, which comprise the Statement of Financial Activities lincorporaling an IncMe and Expenditure Account), the Balance Sheet and the related notes. Thi5 report is made solely to the MpanY'S members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our work has been undertaken so that we might compile the financial statements that we have been engaged lo compile, report lo the Board of Trustees Ihal we have done so, and slate those matters that we have agreed to slate lo them in this report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility lo anyone other than the company and the company's members, as a body, for our woik, or for this report. Respecti responsTbiltties of trustees and examiner The companls trustees Iwho are also the directors of the company for the purposes of company lawl are responsible for the pparatiOn of the financial ststements in accordance with the requiremen15 of the Companies Act 2006. The companls tTuslees consider that an audit Is not requiTed for this financial year under Chapter 3 of Part 16 Df the Companies Act 2006 and that an independent examination is requiTed. It is our responsibility lo.. examine the financial statements under section 65 of the Chaiilie5 Act", follow the proU5 laid down by the general Directions gwen by the Charity Commission for Northem Ireland under section 65{9llb) of the Charilies Act,. and state whether particular mallers have come to our attention. Basis of independent examlnefs report We have examined your company financial slalemenls as required under sedion 65 of the Charities Act 8rKI our examination was carried out in accordan with the general Directions given by the Charity Commission for Northem Ireland undei section 651gllbl of the Charities Act. An examinalion includes a ieview of the accounting records kept by the company and a compaiison of the financxal statements presented with those records. It also includes consrderation of any unusual f(ems or disdosures in the financial statements and seeking explanations from the trustees cOnrning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as lo whether the accounts p¥esenl a 'true and fair. view and the report Is limited lo those matters sel out in the statement below. In connection with our examination, no matier has come to our attention whith gives us cause lo believe that in. any material respect." accounting records were not kept in accordan with section 386 of the Companv&s Ad 2006 the financial statement5 do not accord with those accounting records the financial slalemenls have not been prepared in acLordance with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Pra¢li¢e applicable to charities preparing their accounts in aCQfjrdan with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 there is further information needed for a proper undelanding of the accounts to be reached. Independent examinerfs statement We have no ¢onGerns and have come across no other matters in connection with the examination to whith attention should be drawn in this report in order lo enable a proper understsnding of the financial slalemenls lo be reached. John cmahon FC JOHN MACMAHON & CO Charted Accountants and Registered Auditors 112 Camlough RoatJ Newry Co. Down BT35 7EE Northern Ireland Date.. 28 January 2025
Sticky Fingers Arts IA company Irmtted by guarantee. not having a share capital) STATEMENT OF FINANCIAL ACTIVITIES Ilncorporating an Incomo and Expendtture Account) for the financial year ended 31 March 2024 Unrestricted Restrlcted Funds Fund5 2024 2024 Total Unrestricted Reslricled Funds Funds Funds 2024 2023 2023 Total Funds 2023 Notes Incoming Resources Voluntary Income Charitable activitps Other income 8,816 67,638 6.000 76.306 85.122 67.638 47.400 273,787 273.787 106,070 1,800 106,070 41.400 1,800 Total incoming resources 82.454 117,706 200.160 106,070 275,587 381,657 Resou¢$ Expended Charitable activitEs 104.388 114,775 219.163 75,346 285,144 360,490 Nat incomingloutgoing resource5 before transfers 121,9341 2,931 119,003) 30,724 {9,5571 21,167 Gross transfers between funds Net movement in funds for the financial year 121.9341 2,931 (19,003) 30,724 19,5571 21,167 Reconciliation of funds: Total fvnds beginning of the year 18 81,726 54,731 136.457 51,002 64,288 115,290 Total funds at the end of the year 59,792 57.662 117A54 81,726 54,731 136.457 The Statement of Financial Acttvi(ies include5 all gains and losses recognised in the financial year. All income and expendituie relate lo continuing adlvrties. The notes on pages 11 to 18 form part ofthe finarrial 5tat8rnents
Sticky Fingers Arts IA company limited by gLJarantee, not having a Share capital) Company Number.. N1044255 BALANCE SHEET as 8131 March 2024 2024 2023 Notes FSxed Assets Tangible assets 175,044 215,259 Current Assets Debtors Cash and cash equivalents 12 18,295 851 15,000 551 19.146 15,551 Creditors- Amounts falling due wlthln one year 13 176,7361 {39,1851 Net Current Liabilities 157.5901 123,6341 Total Assets Ivss Current Liabilitie$ 117,454 191.825 Creditors Amounts falling due after more than one year 14 113,7681 Grants receivable 16 141,4001 Total Net Asset5 117.454 136.457 Funds Restricted funds General fund lunreslrictedl 57,662 59.792 54.731 81,726 Total fund5 18 117,454 136,457 These finanoal statements have been prepared in accordance with the speaal provisions relating lo small companies WTthin Part 15 of the Companies Act 2006. For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.. and no notice has been deposited under section 476. The trustees confirm that the members have not required the company to obtsin an audit of its financial statements for the financial year in question in acLordance with section 476 of the Companies Act 2006. The Iruslees acknowledge their responsibilities for ensuring that the company keeps accounting e0rd$ which comply with section 386 and for preparing financial statements which give a true and fair view of the slate of affairs of the company as at the end of the financial year and of f(s profit and loss for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companie5 Act 2006 relating lo financial statements, so far as applicable lo the company. The financial statements have been prepared in a¢(x)rdano with the provisions appIlble lo companies subject to the small Companies, regime and in accordanco with FRS 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Iieland" applying Section 1A of that Standard. Approved by the Board of Truste&s and authorfsed for issue on 28 January 202S and slgned on its behalf by David Hanna Trustge The notes on p8g8s 11 to 78 form part of the finanoal st8t8menls 10
Sticky Fingers Arts IA company limited by guarantee. noi ha¥lng a sharè eapslall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 GENERAL INFORMATION Sticky Fingers Arts is a private company limited by guarantee incorporated in Northein Ireland. The registered office of the company is The Imaginarium, 10 Upper Edward Street, Newry, Co. Down, BT35 6AX, Northem Ireland which is also the principal pla of business of the company. The financial statements have been presented in Pound Slefling 1£) which is also the functional currency of the ¢ompany_ The fi'nancial statements cover the individual entity Sticky Fingers Arts for the year ended 31 March 2024. The Charity is a public benefit enlily. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting polictes have been applied consistently in dealing with items which are considered material in relation to the charity's financial stalemenls. Basis of preparation The financial statements have been prepared on the going concern basis under the historical cost convention, modifEd to include rtain items at fair value. The financial statements have been prepared in accordance with the Slalernenl of Recommended Practice ISORPI 120191 "Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applyillg Section 1A of Ihal Standard. Statomant of compliance The financial stalernenls of the company for the financial year 31 March 2024 have been prepared on the going concern basis and in accordance with the Slalement of Recommended Practice ISORPI Accounting and Reporting by Charities prepartng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. Fund accounting The following are the categorises of fijnds maintained". Restricted funds Restricted funds represent income retxived which can only be used foi particulai purposes, as specffied by the donors. Such puiposes are within the overall objectives of the company. Unrestrictsd funds General fvnds aTe unreslrictsd funds wh¢ch are available for use at the discretion of the Trustees in furtherance of the general objective5 of the company and which have not been designated fof Other purposes. Incoming Resources Voluntary income or capital is inciuded in the Statement of Financial Activities when the company is legally entitled lo it. its financial value can be quantified with reasonable rtaInty and there is reasonable rtaInty of its ultimate receipt. Entitlement lo legacies is considered established when the company has been notrfied ot a distribution to be made by the executors. InCme reiVed in advance of due perfomiance undef a contract IS accounted for as deferred income until eamed. Grants for activities are reo)gnised as incorne when the related conditions for legal enIrtment have been met. All other income is accounted for on an accruals basis. Incomg from charitable activities Income from charitable activities include income earned from the supply of servi$ under conlraclual ariangements and from performan related gran15 which have condi(ions that specify the provision of particular serVIS lo be provKJed by the company. Income from government and other co-funders is recognised when the company is legally entitled to the income caUse it is fulfilling the condf(ions contained in the related funding agreernents. Vvhere a grant is re1Ve in advance, its reeognrtion is deferred and included in credf(ors. Where enlittemenl occurs before income is receNed, il is accrued in debtors. Grants from governments and other co-funders typically include one of Ihe following types of conditions.. Perfom)ance based conditions.. whereby the company is contractu8lly entitled to fvnding only to the extent that the ¢ore objectives of the grant agreement are achieved. Where the company is meeting the core objectives of a grant agreement, it recognises the related expenditure. to the extent that il is reimbursable by the donr)r, as income. -Time based conditions.. whereby the company is contractually enlilled lo funding on the condi(ion that il is 11
continued Sticky Fingers Arts IA company Itmited by guarant8e, not having a share capitsll NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 utilised in a particular period. In these cases the company recognises the income lo the extent it is ulilised within the period specified in the agreement. In the absencE of such conditions, assuming that receipt IS Probable and the amount can be reliably measured, giant income is recognised On the company is notffied of enlillement. Giants received towards capital expenditure are credited to the Slalement of Financial Activrtie5 when reiVed or receivable, whichever is earlr. Resources Expended All resources expended are accounted for on an accruals basi5. Charitable activities indude costs of services and grants, support costs and depreciation on related assets_ Costs of generating funds similarly include fundraising activib"es. Non-slaff costs not attributed to one category of actThity are allocated or apportioned pro-rala to the slafting of the ielevanl service_ Finance, HR, IT and administrative staff costs are directly attributable to individual activities by objective. Govemance costs are those associated with constilulional and statutory requirements. Going Concern Al the date of approving the financial statements, the trustees have a reasonab expectation that the charity has adequate resources lo continue in operational existence for the foreseeable future. Tangible fixed assets and d8preclatÉon Tangible fixed assets are slated at cost OF at valuation, less accumulated depreciation. The charge lo depreualion is calculated to write off the original cost or valuation of tsngible fixed assets. less their eslimaled residu31 value. over their expected useful lives as follows". Plant and machinery Fixtures, fitbngs and equipment 40A Straight line 200h Straight line Leaslng Rentals payable under operating leases are dealt wf(h in the income and expendfÉure account as incurred over the period of the rental agreement. Debtors Debtors are recognised at the settlement amount due after any discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. Income recogni5ed by the company from govemnEnl agencies and other co-fvnders, bul not yet received al year end, is inclLtded in debtors. Creditors Creditors and provisions are Tecognised where the charity has a present obligation resultin9 from a past event, which will probably result in the transler of economic value lo a third party, ar*d the amount due to settle the obligation can be reliably measured or estimated. Creditors and provisions a normally recognised at their settMent amount after allowing for any trade discounts due and al their present value where the lime value of money is deemed significant. Funds already received from government agencies and other co-founders that do not meet the criteria for recognition as income, are shown in creditors. Cash at bank and in hand Cash al bank and in hand comprises cash on deposit at banks requiring less than three months notice of withdrawal. Taxation No current or deferred laxatron arises as the company has been granted charitable exemption. Irrecoverable valued added tsx is expensed as incurred. The charity is a registered charty. and as SLbch is entitled to certain tax exemptions on incorne and profits from investrnents and surpluses on any trading activities carried out in the furtherance of the charity's PTIFnary obhectkves, if these profits and surpluses are applied solely for charitable purposes. The charity is not registered fof VAT and. accordingly, all their expenditure is indusive of any VAT incurred. Pensions The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company_ Annual ¢onlributions payable to the company's pension scheme aTe charged to the incorre and expenditure account in the period to which they relate 12
continued Sticky Fingers Arts IA Company limited by guarantee. not having a share capilall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 SIGNIFICANT ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMA TION UNCERTAINTY In the application of the Charity's ac¢ountirÈg policies, the Trustees are required to make judgements, eslimales and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other Sour$. The eslimales and as%icialed assumptions are based on histortcal experience and other factors that are considered to be relevant. Adual results may differ frorn these estim8les. The estimates and undertying assumptions are reviewed on an ongoing basis. Revisions to accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the peiiod of the revision and future periods where the revision affects both current and future periods. Depreciation and amortisation The trustees eXrcISe judgement in the delemiination of the useful economic INes and residual values of all classes of fixed assets. These asset5 are then depreciated over their useful economic live5 to their residual value. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds 2024 2023 ACNI Newry Moume & Down District Council BBC Children in Need Foyle Foundation Other 484 3.332 45.433 15,480 45.917 18,812 131,319 47,397 23,600 18,000 53,471 5,000 15,393 20,393 B.816 76.306 85.122 273,787 CHARITABLE ACTIVITIES Unrestricted Restrictsd Funds Funds 2024 2023 Earned Income 67,638 67,638 106,070 OTHER INCOME Unrestricted Restricted Funds Funds 2024 2023 Other incoming resources 6,000 41.400 47,400 1,800 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs other Costs Support Costs 2024 2023 Opeialion of theatre and arts ntre Governan¢e Costs Art House Productitsns Depreuation 118.286 29.624 997 19,445 8.892 167,355 9.889 1.704 171,460 71,600 2.650 99,678 15,102 1.704 40.215 40,215 119,990 70.836 28,337 219,163 360,490
continued Sticky Fingers Arts IA company IFmited by guarantee. not having a share capitsll NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 SUPPORT COSTS Charitable Activities 2024 2023 Legal and other professional fees Telephone General offi Rates Insurance Light & Heat 9,768 4.031 232 714 4.525 9.067 9.768 4.031 232 714 4,525 9.067 664 2.096 324 596 4,163 10.089 28,337 28,337 17,932 ANALYSIS OF SUPPORT COSTS 2024 2023 Legal and other professional fees Telephone General offi Rates Insurance Light & Heat 9,768 4,031 232 714 4.525 9,067 664 2,096 324 596 4,163 10,089 28.337 17,932 NET INCOMING RESOURCES 2024 2023 Net Incoming Resources a stated after chargin9llcreditingl: Depreciation of tangible assets Operating lease rentals Motor vehides Independent Examine5 remuneration.. independent examination services Amortisalion of grants iecivable 40.215 15,102 4.836 4.836 3,000 141,4001 5,113 {1,8001 INVESTMENT AND OTHER INCOME 2024 2023 Rontsl Income Amortisalion of capital grants recwed 6,000 41.400 1.800 47,400 1,800 INTEREST PAYABLE AND SIMILAR CHARGES 2024 2023 On bank loans and overdrafts 4,580 2,129 14
Continued Sticky Fingers Arts {A compatry lTrmited by guarantee. not having a share capitall NOTES TO THE FINANCIAL STATEMENTS for the financial yeai ended 31 March 2024 10. EMPLOYEES AND REMUNERATION Numbgr of employees The average number of persons employed (including executive tfustees} duiing the financial year was.. 2024 Number 2023 Number Employees The staff costs comprise.. 2024 2023 Wages and salaries Social secuiily costs Pension costs 78,620 1,680 1,704 133,335 5,383 2.650 82,004 141,368 None of the individuals employed by the charity earn a yearly salary above £60.000. The lolal amount of employee benefits reiVed by key managetrEnt personnel is £48.300. 11. TANGIBLE FIXED ASSETS Plant and Fixtures. machinery fittings and equipment Total Cost Al 31 March 2024 166.745 228.597 395,342 Depreciation At 1 April 2023 Charge for the finanaal year 50,505 6,670 129,578 33.545 180,D83 40,215 At 31 March 2024 57,175 163,123 220.298 Net book value Al 31 March 2024 109,570 65,474 175,044 At 31 March 2023 116,240 99,019 215,259 12. DEBTORS 2024 2023 PpaYMents and accwed income 18,295 15,000 15
ontinued sticky Fingers Arts {A company limited by guarantee, not ha¥lng a share capttèll NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 13. CREDITORS Amounts falling due within one year 2024 2023 Bank overdrafts Bank loan Taxation and social security costs Other creditors Accruals and deferred income.. Pension accrual Other a¢¢ruals 28,804 12,145 24,301 3.462 1,507 12,836 15,201 4.893 324 7.700 248 4,700 76.736 39,185 14. CREDITORS Amounts falling due after more than one year 2024 2023 Bank loan 13,768 Repayable in one year or less, or on demand (Note 131 Repayable beeen one and years Repayable between and fThre years 40,949 14,143 13,498 270 40,949 27,911 The total secured liabilities as al 31 March 2024 are £40,949 {2023". £27,911>. The Bank hold a fed and floating charge over property and a negative pledge. 15. PENSION COSTS - DEFINED CONTRIBUTION The company operates a defined contribution pension scheme. The assets of the scherne are held separately from those of the company in an independently administered fund. Pension costs amounted to £1,70412023 - £2,650) At the balan sheet date there was an outstanding liabilty of £324 12023.. £2481 due to the fund, IhFS is included in creditors amounts falling due within one year. 16. GRANTS RECEIVABLE 2024 2023 Capitsl grants received and receivable At 1 April 2023 48,077 48.077 Amortisation Al 1 April 2023 Amortised in financial year 16,677) 141,400) 14,877) 11,8001 Al 31 March 2024 148.0771 16.6771 Net book value At 31 March 2024 41,400 Al 1 April 2023 41,400 43,200 16
continued Sticky Fingers Arts IA company limited by guarantee. not having 8 $hare capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 17. RESERVES 2024 2023 Al the beginning of the year {Delicit}ISurplus for the financial year 136,457 119.0031 115,290 21,167 Al the and of the year 117,454 136,457 18. FUNDS 18.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Restricted Funds Funds Total Funds Al 1 April 2022 Movement during the financial year 51.002 30,724 64,288 19,5571 115,290 21,167 Al 31 March 2023 Movement during the financial year 81,726 121,9341 54,731 2,931 136,457 {19,0031 Al 31 March 2024 59.792 57.662 117,454 18.2 ANALYSIS OF MOVEMENTS ON FUNDS Balance 1 April 2023 Income Expenditurg Transfers betwee funds Balance 31 March 2024 Restricted funds Restricted funds Unrestricted fund5 Unresthded funds 54,731 117,706 114.775 57,662 81,726 82,454 104,388 59,792 Totsl funds 136,457 200,160 219,163 117.454 18.3 ANALYSIS OF NET ASSETS BY FUND Fixed assets - charity use Current assets Current liabilities Totsl Restred funds 54,847 2,815 57,662 Unrestricted general funds 120,197 16.331 {76,7361 59.792 175,044 19,146 176,7361 117,454 19. STATUS The company is limited by guarantee not having a share capital. The liability of the members is limited. Every member of the company undertakes to contribute to the assets of the company in the event of its being wtsund up while they are members. or within one year thereafter. for the payment of the debts and liabilities of the company contracted before they ceased to be members. and the costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors among themselves, such amount as may be required, not exceeding £1. 17
continued Sticky Fingers Arts IA company limited by guarantO0, not having a share capilall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 March 2024 20. TRUSTEES, REMUNERATION The trustees did not re$ve a remune¥alion during the financial yeai. The t¥U5tees dKI not have any expenses reimbursed during thè financial year. 21. RELATED PARTY TRANSACTIONS No trustees or other person lated to the charity had any personal interest in any contract or transaction entered into by the charity during the financial year. 18