COMPANY REGISTRATION NUMBER: N1063836
CHARITY REGISTRATION NUMBER.. 101578
Terra Nova Productions
Company Limited by Guarantee
Financial Statements
31 March 2023
Finegan Gibson Ltd
Chartered accountants & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN

Terra Nova Productions
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2023
Page
Trustees, annual report (incorporating the director's report)
Independent auditor's report to the members
11
Statement of financial activities (including income and
expenditure account)
17
Statement of financial position
18
Notes to the financial statements
19

Terra Nova Productions
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report)
Year ended 31 March 2023
The trustees, who are also the directors for Ihe purposes of company law, present their report and Ihe
financial statements ol the charity for the year ended 31 March 2023.
Reference and administralive details
Terra Nova Productions
Reglstered charliy name
Charity registration number
Company registration number N1063836
Prlncipal oflice and registered Skainos Centre
off ice
239 Newtownards Road
Bellasl
BT4 1AF
101578
The trustees
R Kennedy - Chairperson
A Sobut
M Fojut
P H White
B Harrison
L Gatsi-Barnell
Company secretary
Marta Fojut
Auditor
Finegan Gibson Ltd
Chartered accounlanls & statutory auditor
Causeway Tower
9 James Street South
Belfast
BT2 8DN
Bankers
Bank ol Ireland
2 The Diamond
BT52 1DE
Solicitors
MKB Law
14 Great Victoria Street
Belfast
BT2 7BA

Terra Nova Productions
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (Gonllnued)
Year ended 31 March 2023
Terra Nova Productions
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (conrlnued)
Year ended 31 March 2023
Governing Document
Terra Nova Productions is a company limited by guarantee governed by its Memorandum and Articles
of Association dated 28th August 2015. Terra Nova Productions is a registered charity with the Charily
Commission lor Northern Ireland. The Board ol Trustees represent the membership ol the
organisalion, each of whom agrees to contribule £10 in the event of the charity winding LIP.
Appointment of Trustees
The Chairman and the Trustees recruit and select new Trustees as needed. New Trustees are
recruited on the relevance ol their professional skills, and their potential lo be able to make a helpful
conlribulion lo the governance ol the Gharily. As part of the recruitmenl process they are made aware
of a Trustees. legal obligations under charity and company law, the conlent of the Memorandum and
Articles of Association, the committee and decision making processes. the business plan and recent
financial performance ol the charity.
Once the potential new Trustee has agreed to be considered lor appointment to the role, the Trustees
meet lo review and to vole on the candidates. suilabilily lor appointment. If there is unanimous
agreement. they then become a director until the next Annual General Meeting and shall then be
eligiblè lor re-election.
What the company does
The Company provides artistic performances, training, support and facilities for artistic expression.. it
presents, promotes, organises. manages and produces artistic performances ol cultural and
educational value, including carnivals, leslivals. performances, dramas, comedies, operas. opereltas,
burlesques, films, broadcasts, television shows, concerts, musical pieces, puppet theatre, ballets,
popular entertainment, arts & crall exhibitions and lairs. The Gompany develops and delivers
aTts-based community workshops and trains members ol individual communities to deliver similar
training lo others. The Company runs training and menlioning programmes for wrilers. performers and
artists. The Company delivers training on 'interculturalily' and cultural difference.
Publlc Benellt
The public benefits of Ihe company include an enhan¢emont of cultural offerings and a wider
apprecialion ol the arts among the general public., improved access to and resource5 for training,
support and facilities in all aspects of the performing arts for the general public Iparticularly those
members ol the public who have historically low levels ol previous parlicipalionlrepresentalion in the
arts),. greater cultural cohesion through the engagement ol minority cultures in the arts through
development and tnenloring ol artists, writers and performers from minorily cullures; greater
assimilation in society by people of minority cultures through a beller understanding ol cultural
difference and a celebration ol common humanity.

Terra Nova Productions
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (contlnuedj
Year ended 31 March 2023
Objectives and activilies
Based in East Belfast, Terra Nova Productions is the only professional theatre company in Northern
Ireland to place intercultural work at the core of their practice. Our mission is to create iheatre where
different cultures meet, people explore and the world is changed. Our Vision is to pul the wonder back
into the world we all share. This means our work aims to make participants and audi&nces feel a
shared sense ol wonder.. an awareness ol the possibility of exploration and growth. Our work aims lo
make participants and audiences aware of what binds humanity together while addressing what drives
people apart. We engage in global partnerships developing creative inspiration and opporlunily.
Our intended audiences and participants are two-fold. First, they seek to engage minorily ethnic
audiences and participants, providing a place in Northern Ireland's professional theatre sector where
minority ethnic communities can see themselves, their lives, and slories represented on stage.
Secondly, the company's aclivilies aim lo engage the indigenous population, enabling expression of
the views, values and beliefs ihey hold about our changing society, and creating experiences and
processes where all ol the people can mix, learn and share.
In shaping our objectives lor the year and planning our activities, the Iruslees have Considered the
Charity Commission's guidance on public benefit.
The strategies employed to achieve the charity's aims and objectives are to..
Strategic Aim 1- Intercultural Artistic Excellence
To CTeale high quality, innovative inlercultural productions that bring together professional artists
from around the world in a truly equitable way.
To create innovative R&D that explores new forms and shares our inlercultural best practiGe Ihrough
artistic and academic networks.
To develop inlercultural partnerships at the local. national and global level that enable equitable
cultural exchange and artistic excellence.
Strategic Aim 2- Audience Development
To co-creale cutting edge communiiy programmes where citizens sell-determine how they wish to
share their lives, experiences and stories building bonds between the audience and the productions.
To develop the next generation of intercultural artists - building bonds between the audience and the
performers.
To develop partnerships al the local, national and global level that enable deep engagemenl with
targeled audiences.
Strategic Aim 3- Governance
To uphold the values, mission and vision ol the company through good governance, proper
resourcing and excellent procedures and systems.

Terra Nova Productions
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (Gontinued)
Year ended 31 March 2023
Open rehearsal / stage combat showcase (June 2022)
Aclors Sam Glaridge and Corey Monague-sholay performed an early version of the trumpet & the king
lor TNP community participants. The performance was followed by a demonslralion ol stage combat
techniques. Furthermore, Ihe community was engaged in discussion of the scene in which the li9hl
took place, reviewing the value ol the scene in Ihe work and continuing to contribute lo the shaping of
the artwork as they had lor 18 months.
Vault Palntlng (June 2022)
Clinton Kirkpatrick and Remi Shore worked alongside a team of 10+ volunteers lo painl the
performance space al vault artist studio's. Artistic director Andrea Montgomery bought pizzas for
volunteers for socialising at the end.
Prototype perforn7ances (June 2022)
Performances of the Trumpet & The King opened al two Nl venues.. Queen's Hall, Newlownards,
followed by The Vault, Bellast. As parl of the weekend, cultLJral historian Michael Ohajuru was flown in
lo join posl-show discussions wilh alumni from the show's developmenl. The shows were well
received by all audiences and feedback was key to shaping subsequent dralts ol the work.
Intercultural conference (July 2022)
Andrea spoke at a conference on intercultLJral theatre making in Zwickau, Germany, and ran a
workshop on active inlerculturalism.
Casting August 2022
Articstic Director ran castings in Belfast followed by London to replace one Trumpet & King actor,
working with casting director Amy Blair.
TNP Community Catch Up. Cake & Chat, (October 2022)
Terra Nova hosted an afternoon catchup with community participants in order lo inform attendees
about what they can get involved in next with the project. Actor Sam Claridge checked in via zoom to
talk about the new script.
Pre-productlon phase (October, November & December 2022)
Artistic Director sold three week tour across Nl. Artistic Direolor undertook a week ol development on
Trumpet & King scripi, based on feedback, with Sam Claridge and Fedjiro Emasionbi, at Forest Hill
Space. The trainee Creative Producer sought further funds for the project development. Artistic
director compleled a new draft of the script for January read.
New Year Catchup & script read
TNP alumni, community pareticipants and professionals met on Zoom to watch a script read ol Ihe
new material on 8111 January. Actor, Fejirp Emasiobi who was Tecast as John Blanke introduced himself
lo the group. Al the end of the read through, participants gave the Artistic Director their feedback.

Terra Nova Productions
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (contlnued?
Year ended 31 March 2023
TNP 1yh Birthday Party (January 2023)
Clinton Kirkpatrick organised and hosted a birthday fundraiser at the black box. Belfast to celebrate 15
years of Terra Nova activity. The event was attended by board members, community participanls and
TNP alumni. Food was provided and a host ol entertainment came in the forms ol singing, dancing.
and poetry.
Rehearsals (February & March 2023)
Arlislic Direcior forced to hire an associate director due to personal circumstances relating lo family.
Fortunately, the Arlistic Director was able to return lo rehearsals for the 2nd week. Associate Director
remained an asset to the production throughout. Trainee Creative Producer dislributed marketing
materials lo venues ahead ol the tour, and liaised with diverse black and immigrant community groups
with ticket oller designed to develop global majority and immigrant audiences. Artistic Director raised
Good Relations funds to support regional theatre venues to book tour.
Trumpet & The King Nl Tour (March & April 2023)
Terra Nova began its first tour of the Trumpet & The King on the 141h of March 2023 at the Grand
Opera House. Opening night saw the show draw a lull house, with 51°/o of attendees coming from the
global majority population of Nl. This night was followed by a successful tour of 12 shows across 9
regional venues. Post-show engagement sessions were offered, allowing the audience to slrenglhen
Iheir connection with the work on show.
Me You Us Them Film (Throughout the year)
Me You Us Them theatre to film (shot in London in 20211 went into posl-produclion throughout this
period. It will be released in Oclober 2023.
Marketing
A programme ol recorded interviews ol past participating artists and adminislralors who have worked
with TNP throughoul ils history went out on Facebook and Inslagram lo celebrate Terra Nova's 15th
Birthday. Schedule allowed for development of strategy, conduct research, plan lor the future and
lundraise. UTV broadcast a programme on our work in Oclober 22.
John Blanke Book Participation
Michael Ohajuru has asked TNP lo appear in a forthcoming publication about John Blanke to be
published in 2024.
Blueprint A&B Training
AM, RS and Board members participated in various governance, networking and organisational
development training sessions throughout the year as parl of their participation in Ihe Blueprinl
programme through Arts & Business.
HR
Andrea Montgomery received a salary increase to salary rate in May that is in alignment with the
Artistic Director position, paid £35k pro rata lor three days work per week. Dormant Accounts is
funding one ol these days per week lor th8 next three years, along with Blueprint and BGC.
TNP hired Remi Shore a5 a trainee Creative Producer in May 2023 as part ol Ihree year
Fulures¢reens Nl fundraising. Training will be offered by AM.
TNP hired Clinton Kirkpatrick as freelance Development Manager to oversee the 15th Anniversary
fundraising campaign., Clinton completed his work in April, 23.

Terra Nova Productions
Company Limited by Guarantee
Trustees, Annual Report {Incorporating the Director's Report) (conttnued)
Year ended 31 March 2023
A¢tlvity
Type
(Select)
Outreach
IYESINO)
Venue
Name
Venue
Type
Select)
Number
Of activities
delivered at
venue
Name ol city,
town or vlllage
Full
Postcod
(Nl
only)
BT23
4EN
Performance
& Audience
Engagement
Session
Arts
Centrè
Newtownards
Queen's
Hall
Yes
Performance
& Audience
Engagement
Sessions &
Exhibitions
Arts
Centre
Belfast
BT5
4FH
Yes
The Vault
Belfast
BT2
7HR
Performance
& Audience
Engagement
Sessions
Arts
Centre
Grand
Opera
House
Yes
Bangor
BT20
4JP
Performance
Arts
Centre
Yes
Studlo A1
Arts
Centre
Antrim
BT41
4AW
Performance
The Old
Courthous
Yes
BT61
7BW
Performance
Market
Place
Armagh,
Studio
Arts
Cenlre
Amrangh
Yes
BT74
6FZ
Performance
Ardhowen
Theatre
Arts
Centre
Ennlsklllen
Yes
Arts
Centre
Ballymena
BT43
5EJ
Performance
Braid Arts
Centre
Yes
BT78
1BL
Performance
Arts
Centre
Omagh
Strule Arts
Center
Yes

Terra Nova Productions
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (conlinuedj
Year ended 31 March 2023
Venue
Type
Select)
Number
Of activlties
delivered at
venue
Name of city,
town or vlllage
Full
P05tcod
Activity
Type
{Select)
Outreach
(YESINOI
Venue
Name
{Nl
only)
BT36
5QA
Performance
Theatre at
Mill
Arts
Centre
Newtownabbey
Yes
BT30
6BP
Performance
Downpatri
ck Arts
Centre
Arts
Centre
Downpatrick
Yes
The People We Worked With
Contracted artists employed
Volunteers involved
Volunteer hours worked
Participants engaged
Audience members..
Steering Group and Board Members
35
41
254
782
1206
The People Engaged From Funder Priority Groups
Prografflme activity O/.
Newcomer or ethnic minority people and groups
Children and young people laged 0-241
People living in deprived neighbourhoods
Disabled people
LGBTQ+ people
Older people (aged 65+1
15°/.
250/.
1001.
10°/0
10°/.

Terra Nova Productions
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (Gonlinued)
Year ended 31 March 2023
Flnanclal review
Incoming resources for the year amounted to £131,628 12022.. £86,900) and with outgoing resources
01 £145,966 {2022: £91.3691 resulted in a deficit for the period of £14,33812022: Deficit £4,469).
Unrestricted fund balances al 31 st March 2023 were £8,94812022.. £18,677) with restTlCted funds ol
£28,111 (2022-. £32,720).
Reserves are needed lo brldge the timing gap between spending and receiving of income and to cover
unplanned temporary shortfalls in income should they arise. Holding adequate reserves safeguards
the provision ol our services in the evenl of unexpected significant financial pressures. The Iruslees
will Gonlinue lo increase the unreslricled reserves to £30,000 over the nexl 6 months in line wilh Ihe
expected growth ol the company.
Unrestricted reserves freely available to spend, therefore excluding fixed assets, restricted reserves
and designated reserves amounted lo £8,948 which was in line with the target level. The Irkjslees
believe Ihis represents a sullicienl level ol reserve to ensure that the going concern assumption is
appropriate.

Terra Nova Productions
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2023
Auditor
Each ol the persons who is a trustee al the date ol approval of this reporl confirms Ihat..
so far as they are aware, there is no relevant audit information of which the charily's auditor is
unaware", and
they have taken all steps that they ought lo have taken as a trustee to make themselves aware of
any relevant audit information and to establish that the charity's audiior is aware ol that
information.
Small company provisions
This report has been prepared in accordance with the provisions applicable lo companies entitled lo
the small companies exemption.
The trustees, annual report was approved on 9 November 2023 and signed on behalf of the board of
Iruslees by..
R Kennedy - Chairperson
Trustee
White
Trustee
10

Terra Nova Productions
Company Limited by Guarantee
Independent Auditor's Report to the Members of Terra Nova Productions
Year ended 31 March 2023
Opinion
We have audited the financial statemenls of Terra Nova Productions (the 'charity'l for the year ended
31 March 2023 which comprise the statement ol financial activities (including income and expenditure
account). slalemenl ol financial ptssition and the related notes, including a summary of significant
accounting policies. The financial reporting framework that has been applied in their preparation is
applicable law and United Kingdom Accounting Standards. including FRS 102 The Financial Reporting
Standard applicable in the UK and Republic ol Ireland (United Kingdom Generally Accepted
Accounting Practice).
In our opinion the financial slatemenls:
give a true and fair view ol the sta18 of the charity's allairs as at 31 March 2023 and of its
incoming resources and application ol resources, including its income and expenditure, lor the
year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted
Accounting Practice-,
have been prepared in accordance with the requirements ol the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS IUKII and
applicable law. Our responsibilities under Ihose standards are further described in the auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of
the charity in accordance with the ethical requirements that are relevant lo our audit ol the financial
slalemenls in the UK, including the FRC'S Ethical Standard, and the provisions available lor small
enlilies, in the circumstances set out below, and we have lullilled our other elhical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sullicient
and appropriate lo provide a basis lor our opinion.
In common with many other businesses ol our size and nature we use our audilors to prepare assist
wilh the preparation ol the financial slatemenls.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees. use ol the going concern
basis ol accounting in the preparation ol the financial statements is appropriate.
Based on the work we have pertormed. we have not identified any rnalerial uncertainties relating lo
events or conditions thal, individually OT collectively, may cast significant doubt on the charity's ability
to continue as a going concern for a period ol at least twelve months from when Ihe financial
stalemenls are authorised for issue.
Our responsibililies and the responsibililies of the Iruslees wilh respect lo going concern are described
in the relevant sections of this report.
11

Terra Nova Productions
Company Limited by Guarantee
Independent Auditor's Report to the Members of Terra Nova Productions
(conlinuedj
Year ended 31 March 2023
Olher information
The other information comprises Ihe information included in the annual report, other than the financial
statements and our auditor's report thereon. The trustees are responsible lor the other information.
Our opinion on Ihe financial statements does nol cover Ihe other information and. except lo the extent
otherwise explicitly stated in our report, we do not express any form of assurancè conclusion Ihereon.
In connection with our audit ol the financial statements, our responsibility is to read the other
information and, in doing so, Gonsider whether the other information is malerially inconsislenl with the
financial statements or our knowledge obtained in the audit or Diherwise appears to be materially
misstated. 11 we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatemenl in the financial statements or a
material misstalemenl of the other information. If. based on thè work we have performed, we conclude
that there is a material misstatement of this other informalion, we are required to report Ihat lacl.
We have nothing lo report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the Course of the audit:
the information given in the trustees, report for the financial year for which the financial
statements are prepared is consistent with the financial statements., and
Ihe Iruslees. report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light ol the knowledge and understanding ol the charity and its environment obtained in the
course ot the audit, we have not identified material misstatements in the Iruslees. report.
We have nothing lo report in respect of Ihe following matters in relation lo which the Companies Act
2006 requires us to report lo you il. in our opinion..
adequate accounting records have not been kept, or returns adequate lor our audit have not
been received from branches not visited by us: or
the linancial statements are nol in agreement with the accounting records and returns., or
certain disclosures ol Iruslees, remuneration specified by law are not made., or
we have not received all the information and explanations we require lor our audit., or
the trustees were not entitled to prepare the financial statements in accordance with the small
companies regime and take advantage ol the small companies, exemptions in preparing the
directors, report and trom the requiremenl to prepare a strategic report.
12

Terra Nova Productions
Company Limited by Guarantee
Independent Auditor's Report to the Members of Terra Nova Productions
Icontlnuod)
Year ended 31 March 2023
Responsibilities of trust8es
As explained more fully in the trustees. responsibilities statement, the trustees (who are also the
directors lor the purposes ol company lawl are responsible for the preparation of Ihe linancial
stalemenls and lor being satisfied Ihat they give a true and lair view. and lor such internal control as
Ihe trustees determine is necessary to enable Ihe preparation of financial slalemenls that are free
from material missiatement, whelher due to fraud or error.
In preparing the financial statements, the trustees are responsible lor assessing the charity's ability lo
continue as a going concern, disclosing, as applicable, matters related lo going concern and using the
going concern basis of accounting unless the Irustees either intend to liquidate the charity or to cease
operations, or have no realistic alternative bul to do so.
13

Terra Nova Productions
Company Limited by Guarantee
Independent Auditor's Report to the Members of Terra Nova Productions
(conlinuedj
Year ended 31 March 2023
Auditor's responsibilities f or the audit ot the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole
are free from material misstalemenl, whether due to fraud or error, and to issue an auditor's report that
includes our opinion. Reasonable assurance is a high level of assurance, bul is not a guarantee that
an audit conducted in accordance with ISAS IUKI will always delecl a material missialemènt when it
exists. Misslalements can arise from fraud or error and are considered material il, individually or in the
aggregate, they could reasonably be expecled to influence the economic decisions ol users taken on
the basis ol these financial slalements.
Irregularities. including fraud, are instances ol non-compliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above, to detect material misstatemenls in respect
ol irregularities. including fraud. The extent lo which our procedures are capable of delecling
irregularities, including fraud is detailed below..
In identifying and assessing risks of material misstatement in respect of irregularities, including fraud
and non-compliance with laws and regulations, we considered the following-.
Ihe nature of the industry and sector. control environment and business perlormance including the
design ol the remuneration policies, key drivers lor directors, remuneration. bonus levels and
performance largels-,
results of our enquiries ol management about their own identilicalion and assessment of the risks
of irregularities;
any matters we identified having obtained and reviewed documenlation ol their policies and
procedures relating to..
identifying. evaluating and complying with laws and regulations and whether
management were aware ol any instances of non-compliance.,
detecting and responding lo the risks ol fraud and whether managemenl have knowledge
ol any actual. suspected or alleged fraud,.
Ihe internal controls established to mitigate risks of fraud or non-compliance with laws
and regulations.
the mallers discussed among the audit engagement leam including significani component audit
leams and relevant internal specialists, including tax and valuations specialists regardirig how and
where fraud might occur in the financial statements and any potential indicators of traud.
As a result of these procedures, we considered the opportunities and incentives that may exist within
the organisalion lor fraud and identified the greatest potential lor fraud. In common with all audits
under ISAS IUKI, we are also required to perform specific procedures to respond to the risk of
management override.
We also obtained an understanding ol the legal and regulatory frameworks in operation, focusing on
provisions of those laws and regulations that had a direct ellecl on the delerminalion ol material
amounts and disclosures in the financial slalements. The key laws and regulations we considered in
this context included ongoing cornpliance with the UK Companies Act and lax legislation.
In addition, we considered provisions ol other laws and regulations that do not have a direct effect on
the financial statements bul compliance with which may be fundamental lor their ability lo operate or 10
avoid a material penalty.
14

Terra Nova Productions
Company Limited by Guarantee
Independent Auditor's Report to the Members of Terra Nova Productions
{continued)
Year ended 31 March 2023
As part of an audit in accordance with ISAS IUKI. we exercise professional judgment and maintain
professional scepiicism throkjghoul the audit. We also..
Identify and assess the risks ol material misstatement of ihe financial slatemenls, whether due lo
fraud or error, design and perform audit procedures responsive lo those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk ol not
detecting a material misstatement resulting from fraud is higher than lor one resulting from error,
as fraud may involve collusion, forgery, intenlional omissions, misrepresenlations, or the override
of internal control.
Obtain an understanding of internal control relevant lo the audit in order to design audit
procedures that are appropriate in the circumstances, but not for the purpose of expressing an
opinion on the effectiveness of the internal control.
Evaluate the approprialene5s ol accounting policies used and the reasonableness ol accoLJnting
estimates and related disclosures made by the trustees.
Conclude on the appropriateness ol the trustees, use of the going concern basis of accounting
and, based on th6 audit evidence obtained. whether a material uncertainty exists related lo
events or conditions that may cast significant doubl on the charity's ability to continue as a going
concern. If we conclude that a material uncertainty exists, we are required to draw attention in
our auditor's report to the related disclosures in the financial statemenls or, if such disclosures
are inadequate, lo modify our opinion. Our conclusions are based on the audit evidence obtained
up to the date ol our auditor's report. However, future events or conditions may cause ihe charity
to cease to continue as a going concern.
Evaluate the overall presentation, slructure and content ol the financial statements, including the
disclosures, and whether the financial slalements represent the underlying transactions and
events in a manner that achieves lair presentation.
15

Terra Nova Productions
Company Limited by Guarantee
Independent Auditor's Report to the Members of Terra Nova Productions
(coftiinued)
Year ended 31 March 2023
We communicate with Ihose charged with governance regarding, among other mallers, the planned
scope and timing ol th& audit and significant audit findings, including any significant deliciancies in
internal control that we identify during our audit.
Usè of our report
This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Parl
16 01 the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charity's members those matters we are required to slate to them in an auditor's report and lor no
other purpose. To the lullesl exlenl permitted by law, we do not accept or assume responsibility lo
anyone other than the charity and the charity's members as a body, tor our audit work, for this report,
or for the opinions we have formed.
Paul Dolan FCA (Senior Statutory Auditor)
For and on behalf of
Finegan Gibson Ltd
Chartered accountants & stalulory auditor
Causeway Tower
9 Jame5 Street South
Bellasl
BT2 8DN
9 November 2023
16

Terra Nova Productions
Company Limited by Guarantee
Statement of Financial Aclivities
(including income and expenditure account)
Year ended 31 March 2023
2023
Restricted
funds Total funds
2022
Unrestricted
funds
Total funds
Note
Income and endowments
Donations and legacies
Charitable activities
Other income
998
12,653
998
130,630
117,977
83,300
3,600
131,628
86,900
Total income
13,651
117,977
Expenditure
Expenditure on charitable activities
Other expenditure
Total expenditure
26,709
119,257
145,966
91,292
77
10
91,369
26,709
119,257
145,966
Net expenditure
{13,0581
{1 ,280)
{14,338)
14,4691
Transfers between funds
3,329
13.3291
Net movement in funds
{9,7291
14,6091
114,3381
14,4691
Reconciliation of f unds
Total funds brought forward
Total funds carried forward
18,677
32,720
51,397
55,866
8.948
28.111
37,059
51.397
The statement ol financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 19 to 28 form part of these financial statements.
17

Terra Nova Productions
Company Limited by Guarantee
Staiement of Financial Position
31 March 2023
2023
2022
Nol8
Fixed assels
Tangible fixed assets
15
6,259
9,223
Current assets
Debtors
Cash at bank and in hand
16
12,508
24,832
23,001
22,897
37,340
45,898
Creditors: amounts falllng due within one year
Net current assets
Total assets less current liabilitles
Net assets
17
6,540
3,724
30,800
37.059
42,174
51,397
51,397
37,059
Funds of the charity
Reslricled funds
Unreslricled funds
Total charity funds
28,111
8.948
32,720
18.677
19
37,059
51,397
These financial statements have been prepared in accordance with the provisions applicable lo
companies Subject to the small companies, regime.
These financial slalements were approved by Ihe board ol Iruslees and authorised lor issue on 9
November 2023, and are signed on behalf ol the board by..
R Kennedy - Chairperson
Trustee
P H White
Truslee
The notes on pages 19 to 28 form part of ihese flnancial stalemenls.
18

Terra Nova Productions
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2023
General inlormalion
The charity is a public benefit enlily and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address ol the registered ollice
is Skainos Cenlre, 239 Newlownards Road, Bellast, BT4 1AF.
Statement of compliance
These financial slalements have been prepared in compliance with FRS 102. The Financial
Reporting Standard applicable in the UK and the Republic ol Ireland,, the Statèment ol
Recommended Practice applicable lo charities preparing their accounts in accordance with the
Financial Reporting Standard applicable in the UK and Republic ol Ireland {FRS 1021 {Charities
SORP IFRS 10211, the Charities Acl (Northern Ireland) 2008 and the Companies Act 2006.
Terra Nova Productions meels the definition of a public benefit entity under FRS 102.
Accounting policies
Basis of preparatlon
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at lair
value through income or expenditure.
The financial statements are prepared in sterling, which is Ihe functional currency of the entity.
Going concern
There are no material uncertainties about the charity's ability to continue.
Disclosure exemptions
The entity satisfies the criteria of being a qualifying entity as defined in FRS 102. As such,
advantage has been taken ol the following disclosure exemptions available under paragraph
1.12olFRS102'.
lal No cash flow statemenl has been presented for the company.
Ibl Disclosures in respect ol financial instruments have not been presented.
Judgements and key sources of estimation uncertainty
The preparation ol the financial slalement5 requires rnanagement lo make judgements.
estimates and assumptions that aflecl the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors. including expectations
of future events that are believed to ba reasonable under the circumstances.
19

Terra Nova Productions
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2023
Accounting policies (ronllnued)
Fund accounting
Unrestricted funds are available for use al the discretion ol the trustees to further any ol Ihe
charity's purposes.
Designated funds are unreslricled funds earmarked by the Iruslees for particular lulure project or
commitment.
Restricted funds are subjected lo reslriclions on their expenditure declared by the donor or
through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or
endowment funds.
Incoming resources
All incoming resources are included in the statement ol financial aclivities when entitlement has
passed to the charity., it is probable that the economic benefits associated wilh the transaction
will flow to the charily and the amount can be reliably measured. The following specific policies
are applied lo particular categories of income:
income from donations or grants is recognised when there is evidence of enlillemenl lo the
gift. receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and enlitlemenl is established.
income from donated goods is measured at the lair value ol the goods unless this is
impractical lo measure reliably, in which Gase the value is derived from Ihe cost to the donor
or the estimated resale value. Donated facilities and services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included lor
the contribution ol general volunteers.
income from contracts for the supply of services is recognised with Ihe delivery ol the
contracted seNice. This is classified as unrestricted funds unless there is a contractual
requirement for il to be spent on a particular purpose and returned il unspent, in which case
it may be regarded as restricted.
20

Terra Nova Productions
Company Limited by Guarantee
Notes to the Financial Statements (Gonllnued)
Year ended 31 March 2023
Accounting policies (Gontlnuedj
Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any
VAT which cannot be fully recovered, and is classified under headings of Ihe statement of
financial activities to which it relates:
expenditure on raising funds includes the costs ol all fundraising aclivilies, events,
non-charitable trading activilies, and the sale ol donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that further its charitable aims lor the benefit of its beneficiaries, including those
support costs and cosls relating to the governance ol the charity apportioned to charitable
activities.
olher expenditur& includes all expenditure that is neither related to raising funds lor the
charity nor part of ils expendilure on charitable aclivilies.
All costs are allocaled to expenditure categories reflecting the use ol the resource. Direct costs
atlribulable to a single activity are allocated directly lo that aclivily. Shared costs are apportioned
between the activities Ihey contribule to on a reasonable, jusliliable and consislenl basis.
Tangible assels
Tangible assets are initially recorded at cost, and subsequently stated at cost less any
accumulated depreciation and impairment losses. Any tangible assels carried at revalued
amounts are recorded al the fair value al the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a resull ol a revaluation, is recognised in other
recagnised gains and losses, unless it reverses a charge lor impairment that has previously been
recognised as expenditure within the statement ol linancial activities. A decrease in the carrying
amount ol an asset as a result ol revaluation. is recognised in other recognised gains and losses,
except to which it ottsels any previous revaluation gain, in which case the loss is shown within
olher recognised gains and losses on the statement ol financial activities.
Depreclation
Depreciation is calculaled so as lo write otl the cosl or valuation ol an asset, less its residual
value. over the useful economic life ol that asset as follows-.
20010 slraighl line
Fixtures and litlings
Impalrment of tixed assets
A review for indicators ol impairment is carried out at each reporting dale, with the recoverable
amount being eslimaled where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset Is impaired accordingly. Prior impairments are also reviewed for
Possible reversal al each reporting dale.
21

Terra Nova Productions
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2023
Accounting policies (conllnuod)
Impairment ot fixed assets (conlinuecl)
For the purposes ol impairment tesling, when il is not possible to estimate the recoverable
amount of an individual asset, an estimate is made ol the recoverable amount ol the
cash-generating unil lo which the asset belongs. The cash-generaling unil is the smallest
identifiable group ol assets that includes the asset and generates cash inflows that largely
independent ol the cash inflows from other assets or groups ol assets.
For impairment testing ol goodwill, the goodwill acquired in a business combination is, from the
acquisition date, allocated to each ol the cash-generaling units that are expected to benefit from
the synergies of the combination, irrespective ol whether other assets or liabilities of the charity
are assigned to those units.
Delined contributlon plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extenl
thal Ihe prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be sellled wholly within 12 monihs ol the end ol the
reporting date in which the employees render the relal8d service, the liability is measured on a
discounted present value basis. The unwinding ol the discount is recognised as an expense in
the period in which it arises.
Llmlted by guarantee
Each of the members of the company has guaranteed lo contribute to the assels ol the company
in the event of the same being would up to the extent of £10.
Donations and legacies
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Other donations and legacies
Other donations and legacies
Exceptional income trom donations
and legacies
98
98
900
900
998
998
Charitable a¢tivilles
Unreslricled
Funds
Restricted Total Funds
Funds
2023
Grants
Performance Incorne
117,977
117,977
12,653
12,653
12,653
117,977
130,630
22

Terra Nova Productions
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2023
Charitable activities (Gonllnuod)
Unreslricled
Funds
Reslricled Total Funds
Funds
2022
82,832
82.925
375
Grants
Performance Income
93
375
468
82,832
83,300
Other income
Restric18d Total Funds
Funds
2023
Restricted Total Funds
Funds
2022
Workshop Income
3.600
3,600
Expendilure on charitable activities by lund type
Unreslricled
Funds
Restricted Total Funds
Funds
2023
Provision of drama and other activities
Support cosls
19,927
6,782
116,108
3,149
119.257
136,035
9.931
26,709
145.966
Unroslricted
Funds
Reslricled Tolal Funds
Funds
2022
Provision ol drama and other activities
Support cosls
26,290
3,752
53,696
7,554
61.250
79,986
11,306
30,042
91,292
Analysis of support costs
Analysis ol
support cost5
Tolal 2023 Total 2022
Premises
General office
Finance costs
Governance costs
2,021
4,172
426
3,329
2,021
4,172
426
3.329
1,143
6.344
323
3,496
9,948
9.948
11,306
23

Terra Nova Productions
Company Limited by Guarantee
Notes to the Financial Statements (¢onttinuéd)
Year ended 31 March 2023
10. Other expenditure
Unrestricted Total Funds Unrestricted Total Funds
Funds
2023
Funds
2022
Other expenditure
77
77
11. Nel expendlture
Net expenditure is staled alter chargingllcrediling}'.
2023
2022
DepreGiation ol tangible fixed assets
3,864
3,685
12. Audltors remuneration
2023
2022
Fees payable for the audil of the financial statements
2.772
2,640
13. Staff costs
The total stall costs and employee benefits for the reporting period are analysed as follows-.
2023
2022
Wages and salaries
Employer contributions lo pension plans
43,378
1,515
26,640
799
44,893
27,439
The average head count ol employees during the year was 212022.. 21. The average number of
tull-lime equivalent employees during the year is analysed as follows:
2023
2022
No.
Employees
No employee received employee benefits ol more than £60,000 during the year12022= Nill.
Key Management Personnel
Key management personnel include all persons that have authority and responsibility lor
planning, directing and controlling th8 activities ol the charity. The total compensation paid to key
management personnel for services provided to the charity was £40,32212022.'£28,5921.
24

Terra Nova Productions
Company Limited by Guarantee
Notes to the Financial Statements (Gonllnued)
Year ended 31 March 2023
14. Trustee remuneration and expenses
The Charily Trustees were not paid or received any other benefits from employment with the
Charity in the year {2022'. £0I- They were not reimbursed for any travel expenses during the year
12022- £01. No Charity Trustee received payment for professional or other services supplied lo
the the Charity (2022.. £0).
15. Tangible fixed assets
Fixtures and
fittings
Cost
At 1 April 2022
Additions
18.753
900
At 31 March 2023
19,653
Depreclation
Al 1 April 2022
Charge for the year
At 31 March 2023
9,530
3,864
13,394
Carrying amount
At 31 March 2023
6,259
Al 31 March 2022
9,223
16. Debtors
2023
2022
Prepayments and accrued income
Other debtors
783
11,725
666
22.335
12,508
23,001
17. Credltors: amounts falling due within one year
2023
2022
Trade creditors
Accruals and deferred income
Social security and other taxes
1,704
3,227
1.609
629
3,095
6,540
3,724
25

Terra Nova Productions
Company Limited by Guarantee
Notes to the Financial Statements (conttinued)
Year ended 31 March 2023
18. Pensions and other post relirement benefils
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
conlribulion plans was £1,51512022-. £799}.
19. Analysis of charitable funds
Unrestricted funds
At
31 Mar¢h 202
At
1 April 2022
Income Expenditure
Transfers
General funds
18,677
13,651
126.7091
3.329
8.948
At
31 March 202
At
1 April 2021
Income Expendilure
Transfers
General funds
48,588
468
130,1191
{2601
18,677
Restricted funds
At
31 March 202
At
1 April 2022
Income Expenditure
Transfers
Arts Council Nl
Belfast City Council
Ards & North Down BC
Community Foundation
Enkalon Foundation
Me You Us Them
24,741
25,465
11,000
1,500
1,000
{46,8771
111 ,0001
11,5001
11,000)
13.3291
4,769
4.769
800
3,210
(2,410)
26

Terra Nova Productions
Company Limited by Guarantee
Notes to the Financial Statements (conllnued)
Year ended 31 March 2023
19. Analysis of charitable lunds (contlnued)
Community Relations
Council
Blueprint
Dormanl Accounts
Future Screens Nl
Leche Trust
PCSP Ards and North
Down Borough Council
1,270
22,428
29,895
21,919
2,000
{1 ,270)
110,6491
121,7481
(19,3031
{2,000}
11,779
8.147
2.616
1 ,500
(1,5001
{119,2571
32,720
117,977
{3,329)
28,111
At
31 March 202
At
1 April 2021
Income Expenditure
13,4371
136,0041
13,4951
Transfers
Arts Council Nl
Belfast City Council
Ards & North Down BC
Community Foundation
Enkalon Foundation
Me You Us Them
Community Relalions
Council
Blueprint
Dormanl Accounts
Future Screens Nl
Leche Trust
PCSP Ards and North
Down Borough Council
2,614
25,564
35,744
3.600
24,741
260
4,664
4,769
500
18,624
15001
{15,4141
3,210
2,400
12,4001
7,278
86,432
161,2501
260
32,720
A Iransler also look place in Ihe year lo reclassify Arts Council Nl funding as unreslricted income
as parl ol this funding is to help replace reserves already committed lo keep Terra Nova
Productions and Iheir projects alive in the aflermalh ol Ihe COVID-19 pandemic.
27

Terra Nova Productions
Company Limited by Guarantee
Notes to the Financial Statements (Gonllnued)
Year ended 31 March 2023
20. Analysis of net assets between funds
Unreslricled
Funds
Restricted Total Funds
Funds
2023
Tangible fixed assets
Current assets
Creditors less than 1 yaar
6,259
8,948
16,5401
8,667
6,259
37,340
16,5401
37,059
28,392
Net assets
28,392
Unrestricted
Funds
Reslricled Total Funds
Funds
2022
Tangible fixed assets
Current assets
Credilors less than 1 year
9,224
13,178
13,7241
18,678
9,224
45,898
13,7241
51.398
32,720
Net assets
32,720
21. Contingent liabillty
A contingent liability exists lo repay grants received should certain conditions not be fulfilled by
the charity. In the opinion ol the Trustees, the terms ol the Letters ol Offer have been, or will be,
complied with and no liability is expected.
22. Corporation taxation
The Charity's activities fall within the exemptions allorded by Ihe provisions ol Ihe Income and
Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts.
23. Related parties
Terra Nova Productions reimburse staff members lor expenses incurred on behalf of the
company which have been initially settled personally by the employees.
2B