Charity reglstratlon number XR36579 Company regislration number N1043675 (Northern Ireland) NORTHERN VISIONS MEDIA TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
NORTHERN VISIONS MEDIA TRUST LEGALAND ADMINISTRATIVE INFORMATION Trustees Mrs Wood Ms C McAlonan-McCrudden Mr G P O'caireallain Secretary Mr S Wood Charlty number XR36579 Company ntsmber N1043675 Reglstered offlce Exchange Place 23 Donegall Street Belfast BT12FF Independent examlner Fountain Accountin9 Ltd 2nd Floor Donegall House 98-102 Donegall Str8et Belfasl BT12GW
NORTHERN VISIONS MEDIA TRUST CONTENTS Page Tiuslees, report Statement of trustees, responsibilities Independent examiner's report Statement of financi81 activities Balance sheel Notes to the financial 3latemenls 8-14
NORTHERN VISIONS MEDIA TRUST TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial slalements for the year ended 31 March 2024. The accounls have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recomrnended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)" (as amended for accounting periods commencing from 1 January 2016) Objectives and actlvltles The Northern Visions Media Trust was established in July 200210.. 1. Advance education and training In television produclion techniques for the public b8nefit and for people of all ages and abilities living in Northern Ireland (the "area of benefit"). 2. Promot8 community development in the area of benefit by: providing faciliti8s lo and assisting community and voluntary seclor organisations and groups lo create Iheir own television programmes,, producing promotional material for such organisalions and groups. 3. Promole community arts, culture and heritage in the area of benefit by providing tuilion and information and encouraging and facilitating community participation in arts, cultural and heritage activities and events. As Chair. l am delighted to report that we have continued to deliver a range of aclivilie5 and training lo a variety of communities, voluntary groups and individuals, We continued lo operate an open policy with access, participation and learning designed into the heart of our media pr¢gramme, services and facilities. No media skills are required. We employ th8 community arts tenets of access, participation, ownership. authorship. W8 condud action research and pllots. We prioritise the needs of disadvanlaged people within an overall commitment to equal opportunities. Our partnerships include those delivering anti-poverty programmes, social Inclusion, lifelong learning, skills based inilialives for the unemployed and eiadicating child poverty. We maintain an arts and digital media centre as a central resource, embracing new tèchnologies and innovation, including digital technology and distribution platforms not readily available to other organisalions which is why we have developed an open a¢¢es$ policy for all ageslabilitieslskills and experience. Even th8 poorest nei9hbourhood has resources to offer. These may be experiencelknowledge based rather than physical resources. 11 is important lo us that they are afforded the same value as Norihern Wisions resources. Chlldren and Young people Little Sparks, Future Dreams was a project mixing digital media, digital technology, crealive Story telling, live performance and lols of fun for young people from rural and socially deprived areas. Working with eight schools, young people will collaborate to creale eight stories, while exploring tha possibilities of bringing them lo life through digital media and puppetry. We participated in the Arts Council's Creativè Schools project lo introduce school student5 from socially deprived areas lo the potential of the arts as a medium for both personal and community change.
NORTHERN VISIONS MEDIA TRUST TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Skllls Training and Apprenticeshlps Tralnlng We offer training in all aspects of digital media. workshops, an Active Citizenshiplvolunteering programme wilh free training and menloiing, advise on progression routes, give arlists and volunteers edilorial control over creative output. create opportunilies for artists lo document their work. We provided skills training for thirty individuals in partnership with CINE, funded by th8 Department for Communities. Also we provided apprenticeships for underrepresented, ethnic minority, socio-economic, and disabled communities. Arts Programm8 We rnaximise public benefit by inve81ing a high proportion of human and financial resouices in the art8 Ihrough creative productions, training, digital media resources, dislribulion and exhibition. Our Iraining and skills enhancement takes p18ce during engagement in the creativ8 process on proje¢ls conducted with partner organisations in th8 cultural and community sector. We Are was an arts project working with people with brain injuries. (Brain Injury Matters). We began work with Belfast City of Sanctuary provldlng film maklng tralnlng to a number of refugees and asylum seekers. Older People We have continued to support the involvemenl of older people in programme production. The trustees have paid due regard lo guidance issued by the Charity Commission in deciding what acllvilies the charity should undertake. Structure, governance and management The charily is a company limited by guarantee. The trustees. who are also the directors for the purpose of company law, and who Seed during the year and up lo the dale of signalure of the financial statements were: Mr S Wood Ms C McAlonan-McCrudden Mr G P O'caireallain None of the trustees has any beneficial interest in the company. All ofthe trustees are members ofthe company and guarantee to conlribute £1 in the event of a winding up. The trustees. report was approved by the Board of Trustees. Mr S Wood Directoi Daled: 18 December 2024
NORTHERN VISIONS MEDIA TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The tfuslees, who are also the directors of Norihem Visions Media Trust for the purposè of company law. are responsible for preparing the Trustees, Report and the financial slatements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom GenerallyAccepted Accounting Practice>. Company Law requires the trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the charity and of the incoming resources and application of resources. inctuding the income and expenditure, of the Gharitable company for that year. In preparing these financial slalements, the trustees are required lo,. select suitable accounting policies and then apply them consistenlly: obseNe the methods and principles Sn Ihe Charities SORP- make judgements and estimates that are reasonable and prudent. and prepare the flnancial statements on the going Goncern basis unless it is inappropriate to pr88ume that Ihe charity will continue in operation. The trustees are responsible for keèping adèquate accounting records that disclose with reasonable accuracy al any time Ihe financial posilion of the Gharily and enable them lo ensure thal the financial slalements comply with the Companies Act 2006, 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 irregularilies.
NORTHERN VISIONS MEDIA TRUST TRUSTEES, DECLARATION ON UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 In relation to the financial statements which comprise the statement of financial activities. the balance sheet and the related nol8S'. The Iruste6s approve these financial slalernents and confirm that they are responsible for them, including selecting the appropriate accounting polici6s, applying them consislenlly and making, on a reasonable and prudent basis, the judgments underlying them. They hove been prepared on the going concern basis on the grounds that the Gharity will continue in operation. The trust8es confirtn that they have made available to Founlain Accounling Lld, all the charity's accounting records and provided all the information necessary for the compilation of Ihe financial stalements. The trustees confirm that to the best of their knowledge and bellef, the accounting records reflect all transactions of thè charity for the year ended 31 March 2024. On behalfof the board Mr S Wood Dlrector 18 December 2024
NORTHERN VISIONS MEDIA TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NORTHERN VISIONS MEDIA TRUST We report to th8 trustees on my examination of the financial slatements of Northern Visions Media Trust (the harityl for the year ended 31 March 2024. Re8pon8ibilitle6 and bas18 of report As the trusteès of the charity (and also its directors for Ihe purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2008 (the 2006 Acl). Having satisfied ourselves that the financial statements of the charity are nol required to be audited under Part 16 of Ihe 2006 Act and aTe eligible for independent examination, We report in respect of my examination of the charity's financial statements carried cul under section 65 of Ihe Charities Act. In carrying out our examination we have followed all the applicable Directions given by the Charity CDmmission under seclion 65(91(b) of th8 Act. Indepondent examlnerfs statement We have completed my examination, We confirm that no matters have come to our attenlion in connectlon with the examinalion giving me cause to believ8 that in any materlal respect.. accounlin9 records were not kept in respect of the charity as required by section 386 of the 2C(16 Acl., or the financial slalemenls do not accord with Ihose records., or the financial stalernents do not comply with the accounting requirements of section 396 of the 20Q6 Act other Ihan any requirement that Ihe accounts give a true and fair vi8w which is not a matter considered as part of an independent examination,, or the financial statements have not been prepared in accordance wilh the methods 8nd prinripl88 of the Statement of Recommended Pra¢lStt for accounting and reporting by charilies applicable to charities preparing their arxounls in accordance with Ihe Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). We have no concerns and have come across no olher matters in connection with the examination lo which attention should b8 drawn Sn thi6 report in order to enable a proper understanding of the financial statements lo be reached Fountain Accountlng Ltd 2nd Floor Donegall House 98-102 Donegall Streel Belfast BT12GW Dated.. 18 December 2024
NORTHERN VISIONS MEDIA TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Unrostrlcted funds 2024 Unrestricted funds 2023 Notes Income and endowments from: Other trading activitie3 Other income 19,874 16,078 Tolal Income 19,878 16,087 Expendlture on.. Charitable acliviliès Other 8xpendilure 13,918 61 21,144 Total oxpendltu 13,979 21,205 Net incomel(expendllure) and movèmgnt in lund8 5,899 15,118) Re¢onclliation ol fund8: Fund balanS at 1 April 2023 {2,253) 2,865 Fund balances at 31 March 2024 3,646 12,253) The stalem8nt of finanGial activities indudes all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies.
NORTHERN VISIONS MEDIA TRUST BALANCE SHEET AS AT31 MARCH 2024 2024 2023 Notes Flxed assets Tangible assets 11 14 18 Current assets Debtors Cash at bank and in hand 12 7,394 1,631 1,720 521 9.025 2,241 Creditor8'. amounts falling due wlthln one year 13 15,393) (4,512) Net current a88et81(Ilabilltleg1 3,632 (2,271) Total a88ets le88 current liabllities 3,646 (2,253) Net assets excludlng pension Ilability 3,646 12,253) The funds of the charity Unreslricled funds 3,646 (2,253> 3,646 (2,253) The company is entitled to the exemption from the audit requirement contained in section 477 of the Cornpanies Act 20C6, for the year ended 31 March 2024. The directors acknowledge Iheir responsibilities for complying with the requirements of the Cornpanies Acl 2006 with respect to accounting records and the preparation of financial statements. The members have not required Ihe company to obtain an audit of its financial statements for the year in question in accordance wilh section 476. These financial statements have been prepared in accordance wllh the provisions applicable lo companies subject to the small companies regime. The financial statements were ap roved by the trustees on 18 Dember 2024 Mr S Wood Director Company registration number N1043675 (Northern Ireland)
NORTHERN VISIONS MEDIA TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting policiès Charity information Norlhern Visions Media Tmst is a piivate company limited by guarantee incorporated in Northern Ireland. The registered office is Exchange Place, 23 Donegall Slreet, Belfasl. BT12FF. 1.1 Accountlng conventlon The financial statem8nls have been prepared in accordance with the charity's Igoverning documentj, the Companies Act 2006. FRS 102 "Thè Financial Reporting Standard applicable in Ihe UK and Republic of Ireland" ("FRS 102°) and the Charities SORP "Awounting and Reporting by Charit16s'. Statement of Recommended Practice applicable lo charilies preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republi¢ of Ireland (FRS 102)" (effèctive 1 January 2019). The charily is a Public Benefit Enlily as defined by FRS 102. The Gharity has taken advantage of th8 provisions in the SORP for charilles not to prepare a Statement of Cash Flows. The financial statements are prépared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial slaternenls have been prepared under the historical cost convention. Imodified to include the revaluation of fr8ehold proparties and lo include inveslrnent properties and certain financial instruments al falr valuel. The principal accounting policies adopted are set out below. 1.2 Going concern At the lime of approving the financial stal8menls, the trustees have a reasonabl& expeclallon Ihal the charity has adequate resources to conlinu6 in operational exislence lor the foreseeable future. Thus Ihe trustees continue lo adopi the going concern basis of accounting in preparing Ihe financial slalements. 1.3 Charltable funds Unreslricled funds are availabl8 for use al the discretion of the trustees In furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as lo how Ihey may be used. The purpose5 and uses of the restricted funds are sel out in the notes lo the financial staternenls. Endowment funds are subject to specific conditions by donors that Ihe capital musl be mainlalned by the charity. 1.4 Incomlng re8ource8 Income is recognised when the charity is legally entilled to il ofler any performance conditions have been mel, the amounts can be measured reliably, and it is probable thal income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donalion, unless performan conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at Ihe lime of the donation. Legacies are recognised on receipt or otherwise if the charity has been nolified of an impending distribution, the amounl is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent assel.
NORTHERN VISIONS MEDIA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (Continued) Expenditure is recognised once there is a legal or construclive obligation lo Iransfer economic benefit to a third pariy, it is probable that a transfer of economic benefits will be required in seltlement, and the amount of the obligation can be measured reliably. Expenditure is classified by aclivity. The costs of each activity are made up of the total of direct costs and shared costs, including support cosls involved in undertaking each activity. Direct costs altribulable to a single activity are allocated directly to that adivity. Shared costs which contribute to more than one aclivity and support costs which are not attributable lo a single activity are apportioned between those activities on a basis consistent with the use of resources. Central slaff costs are allocated on Ihe basis of lime spent, and depreciation charges are allocatèd on th8 Portion of th& asset's use. 1.5 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequenlly measured at cost or valuation, nel of depreciation and any impairment Ioss8S. Depreciation is recognised 80 as to write off the cost or v81ualion of ass6ts less thelr resldual values over Iheir useful lives on the following bases.. Fixtures, fillings & equipment Computers 250h reducing balance method 250/0 reducing balance method The galn or Icss arising on the disposal of an asset is deleTmined as the difference b8tW8en th8 sale proedS and the c8rrying value of the asset, and is recognlsed In the statement of flnan¢lal activlties. 1.6 Impalrment of flxed assets At each reporting end date. the charliy reviews the carrying amounts of its tangible assets to d8termine whether Ihere is any indication that Ihose assets have suffered an imp8irment loss. If 8ny such indication exists. Ihe re¢overabl8 amount of the asset is eslimaled in order to delermine the extent of the impairmenl loss (if any). Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their presenl valu6 using a pre-tax discount rale Ihal reflects currenl markel assessments of the time value of Money and the risks specific to the asset for which the estimales of future cash flows have not been adjusted. If the recoverable amount of an asset is estimated lo be less than its carrying amount, the carrying amount of the asset is reduced lo its recoverable amount. An irnpairment loss is recognis8d immediately in incomel (expenditure for the year, unless the relevant asset is carried al a r8valu8d amount, in which case Ihe impairment loss is treated as a revaluation decrease. Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased lo apply. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of ils reGoverable amount. bul so Ihal the increased carrying amount does not exceed the carrying arnount that would have been determined had no impaimienl loss been recognised for the asset in prior years. A reversal of an impairmenl loss is recognised imrmedialely, unless the relevant asset is carried in al a revalued amount, in which case the reversal of the impairment loss is treated as 8 revaluation increase. 1.7 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at ca51 with banks, other short-term liquid inveslmenls with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown withirb borrowings in current liabilities.
NORTHERN VISIONS MEDIA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounllng pollcies (Continued 1.8 Financial Instruments The charity has elected lo apply Ihe provisions of Seclion 11 'Basic Financial Inslrumenls, and Section 12 'Other Financial Instruments Issues, of FRS 102 to all of ils financial instruments. Financial Inslrumenls are recognised in the charity's balance sheet when the charily becomes party to th8 contractual provisions of the inslrumenl. Financial assets and liabilities are offset. wilh the nel amounts presented in the financial statements, when ther8 is a legally enforceable right to set off the recognised amounts and there is an inlenlion to settle on nel basis or lo realise the asset and settle the liability simultaneously. Baslc flnanci81 assets Basic financial assets, which include debtors and Cash and bank balances, are initially measured al Iransaction price including Iransaction costs and are subsequently carried al amorti$ed cost using the effective inlerest method unless the arrangement constitutes a financing transaction, where the transaction is measured al the prasent value of the future receipts discounted at 3 markel rate of interest. Financial assets dassified as receivable within on8 year are not amortised. Basic linanclal Ilabllltles Basic financial liabilities, Including creditors and bank loan5 are initially recognised at transaction prlce unless the arrang8m8nl constilules a financing transaction, where the debl instrument is measured at the present value of the fulure payments discounted at 8 market rale of interest. Flnancial liabilities classified as payable within one year are not amortised. Debt instruments 8re subsequently carried at amortised cosl, using the effective interest rate method. Trade Greditors are obligation81o pay for goods or services that have been acquired in the ordinary couT8e of operation5 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-CUenl liabilities. Trade creditors ar8 recognised inilially at transaclion price and subsequently measured al amortised cost Using the effeGliv6 interest method. Derecognition of flnancial Ilabllltles Financial liabilities are deTecognised when the charity's conlraclual obligalions expire or are discharged or cancelled. Critical accounting estimate8 and Judgements In the application of the charity's 8ccounllng policles, the trustees are required to make judgements, estimates and assumptions about the carrying amounl of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other faclors that are considered lo be relevant. Actual results may differ from these eslimales. The estimales and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which tho 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. 10
NORTHERN VISIONS MEDIA TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Income from other trading activities Unrèstricled Unrostrlcted fund8 funds 2024 2023 Bank Interest ReIVed Other Income Vnrestrlcted Unrestrloted fund8 fund8 2024 2023 Other Income 19,874 16,078 Expendlture on charltable actlvltles 2024 2023 Dlrect costs Depreciation and impairment Share of Support and governanoe ¢08t8 {see note 8) Support Governan 12,937 978 19,213 1,924 13,918 21,144 Analysis by fund Unreslricted funds 13,918 21,144 11
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NORTHERN VISIONS MEDIA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Trustaes None of the trustees lor any persons connected wilh them) received any remuneration or benefits from the charity during the year. Employee8 The average monthly number ofemploy88s during the year was: 2024 Number 2023 Number Total There were no employees whose annu81 remuneration was more than £60.000. Other expenditure Unrestrlcted Unrestrlcted funds funds 2024 2023 61 Financing costs 61 10 Taxatlon The charity is exempl from laxalion on its activitles because 811 ils income is applied for charitable purposes. 11 Tangible fixad assets Flxlurgs, fbttlngs & •qulpment Computer8 Total Cost At 1 April 2023 1,362 1,000 2,362 At 31 March 2024 1,362 1,000 2,362 Depreciatlon and impalrment At 1 April 2023 Depreciation charged in the year 1,352 993 2,345 Al 31 March 2024 1,354 2,348 Carrying amount At 31 March 2024 14 Al 31 March 2023 11 18 13-
NORTHERN VISIONS MEDIA TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 12 Debtors 2024 2023 Amounts falllng duè wlthln ona year: Other debtors 7,394 1,720 13 Credltors: amounts falllng duo withln one year 2024 2023 Olh8r creditors Accruals and deferred income 3,793 1,600 3,712 800 5,393 4,512 14 Unreslrlcted fund8 The unrestricted funds of the charity comprisè th8 unexpended balanS of donatSons and granls 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 oul of unrestricted funds by the trustees for specific purposes. At 1 April 2023 Incomlng resources Re80urces At 31 March expended 2024 General funds (2,253) 19.878 (13,979> 3,646 Prevlous year: At 1 Aprll 2022 Intomlng resources Re80urces At 31 March expended 2023 General funds 2,865 16,087 121,205) (2,253)