Terra Nova Productions Company Limited by Guarantee Independent Auditor's Report to the Members of Terra Nova Productions Year ended 31 March 2024 Opinion We have audited the financial statements of Terra Nova Produclions Ilhe 'charity') for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure account), statement of financial position 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 Uniled Kingdom Accounting Standards, including FRS 102 The Financial Reporting Stsndard appliGable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the stale of the charity's affairs as at 31 March 2024 and of ils incoming resources and application of resources. including its income and expenditure, for the year then ended-, have been properly prepared in accordance with United Kingdom Generally Accepted Acoounling Practice., have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS {UKII and applicable law. Our responsibilities under those standards are further described in the audilols responsibilities for the audit of the financial statements seclion of our report. We are independent of the charity in accordance with the ethical reqLJirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard. and the provisions available for small enlilies, in the circumstances set out below, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriale to provide a basis for our opinion. In common with many other businesses of our size and nature wé use our auditors lo prepare assist with the preparation of the financial statements. Conclusions relating to going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation of the financial stalemenls is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.
Terra Nova Productions Company Limited by Guarantee Independent Auditor's Report to the Members of Terra Nova Productions (continuedj Year ended 31 March 2024 Other Information The other information comprises the information included in the annual report, other than the financial statemenls and our auditor's report thereon. The Iruslees are responsible for the other information. Our opinion on the financial slatemenls does not cover the other information and, except to the extent othenmise explicitly stated in our report, we do not express any form of assurance conclusion Ihereon. In connection with our audit of the financial statements, our responsibility is lo read the other information and, in doing so. consider whether the other information is materially inconsislenl with the financial statements or our knowledge obtained in the audil or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstslemenls, we are required lo determine whether there is a material misstatement in the financial statements or a material misslalement of the other information. If, based on the work we have performed. we conclude that there is a material rnisstatement of this other information, we are required to report that fact. We have nothing to 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 Iruslees, report for the financial year for which the financial statements are prepared is consistent with the financial statements., and the Irustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit. we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us lo report lo you if, in our opinion= adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us-, or the financial statements are not in agreement with the accounting records and returns- or certain disclosures of trustees, remuneration specified by law are not made., or we have not received all the information and explanations we requir8 for our audit., or the Irustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the directors, report and from the requirement lo prepare a strategic report.
Terra Nova Productions Company Limited by Guarantee Independent Auditor's Report to the Members of Terra Nova Productions (continued) Year ended 31 March 2024 Responsibilities of trustees As explained more fully in Ihe trustees, responsibilities statement, the Iruslees {who are also the directors for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing IUKI. Those standards require us to comply with the Financial Reporting Council's IFRC'sl Ethical Standard for Auditors,, in the circumstances set out in note 22 to the financial statements. In preparing the financial slalements, the trustees are responsible for assessing the charity's ability to continue as a going concern. disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to Siquidate the charity or lo cease operations. or have no realistic alternative bul to do so.
Terra Nova Productions Company Limited by Guarantee Independent Auditor's Report to the Members of Terra Nova Productions (contlnuedj Year ended 31 March 2024 Auditor's responsibilities for the audit of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslalemenl, 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, but is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expecled lo influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect materi81 misstatements in respect of irregularities, including fraud. The extent lo which our procedures are capable of detecting irregularities, including fraud is detailed below: In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-campliance with laws and regulations, we considered the following: the nature of the industry and sector, control environment and business performance including the design of the remuneration policies, key drivers for directors, remuneration, bonus levels and performance targets.. results of our enquiries of management about their own identification and assessment of the risks of irregularities- any matters we identified having obtained and reviewed documenlatlon of their policies and procedures relating to.. identifying, evaluatin9 and complying with laws and regulations and whether management were aware of any instarices of non-compliance., detecting and responding to the risks of fraud and whether management have knowledge of any actual, suspected or alleged fraud.. the internal controls established lo mitigate risks of fraud or non-compliance with laws and regulations. the mallers discussed among the audit engagement team including significant component audit teams and relevant internal specialists, including lax and valuations specialists regarding how and where fraud might occur in the financial slalements and any potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist withSn the organisalion for fraud and identified the greatest potential for fraud. In common with all audits under ISAS (UKI, we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks in operation, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included ongoing compliance with the UK Companies Act and tax legislation. In addition. we considered provisions of other laws and regulations that do not have a direct effect on the financial slalements but compliance with which may be fundamental for their ability to operate or to avoid a material penalty. 10
Terra Nova Productions Company Limited by Guarantee Independent Auditor's Report to the Members of Terra Nova Productions (contlnued) Year ended 31 March 2024 As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism Ihroughoul the audit. We also-. Identify and assess the risks of material misslatemenl of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant lo the audit in order lo 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 appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related lo events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exi51s. we are required to draw attention in our audilor's report to the related disclosures in the financial slalemenls or. if such disclosures are inadequate. to modify our opinion. Our conclusions are based on the audit evidence obtained up lo the date of our auditor's report. However. future events or conditions may cause the charity lo cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. 11
Terra Nova Productions Company Limited by Guarantee Independent Auditor's Report to the Members of Terra Nova Productions (contlnuedj Year ended 31 March 2024 We communicate with those charged with governance regarding, among other mallers, the planned scope and liming of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. Use of our report This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mlght state to the charity's members Ihose matters we are required to stale lo them in an auditor's report and for no other purpose. To the fullest extent permilled by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body. for our audit work, for this report. or for the opinions w8 have formed. Paul Dolan FCA (Senior Statutory Auditor) For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN 17 December 2024 12
Terra Nova Productions Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities 2,747 7,106 2,747 73,988 998 130,630 66.882 Total income 9.853 66.882 76,735 131,628 Expenditur8 Expenditure on charitable activities Total expenditure 7,618 62,298 69,916 145,966 7,618 62,298 69,916 145,966 Net incomellexpenditurel 2,235 4,584 6.819 114.338) Transfers between funds 11,476) 1,476 Net movement in funds 759 6,060 6,819 {14,3381 Reconciliation of funds Total funds brought fonmard Total funds carried forward 8,948 28,111 37,059 51.397 9,707 34,171 43,878 37,059 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 15 to 24 form part of these financial statements. 13
Terra Nova Productions Company Limited by Guarantee Statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 13 3.415 6,259 Current assets Debtors Cash al bank and in hand 14 705 44,065 12,508 24,832 44.770 37,340 Credltors.. arnounts falling due wlthln one year Net current asset5 15 4,307 6,540 40.463 30,800 Total assets less current liabilitles 43.878 37,059 Net assets 43,878 37,059 Funds of the charity Restricted funds Unreslricled funds 34,171 9,707 28.111 8,948 Total charity funds 17 43,878 37,059 These financial statements have been prepared in accordance with the provisions applicable to companies subject lo the small companies, regime. These financial slalements were approved by the board of trustees and authorised for issue on 17 December 2024, and are signed on behalf of the board by-. B Harrison - Chairperson (Appointed to Chairperson role on 2311112023) Trustee P H White Trustee reas er The notes on pages 15 to 24 form part of these financial statements. 14
Terra Nova Productions Company Limited by Guarantee Notes to the Financial Statements Year ended 31 March 2024 General information The charity is a public benefit entity and a private company limited by guaranlee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Skainos Centre, 239 Newtownards Road, Belfast, BT4 1AF. Statement of compllance These financial statements have been prepared in compliance with FRS 102. 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recomrnended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 {Charilies SORP {FRS 10211, the Charities Act (Northern Ireland) 2008 and the Companies Act 2006. Terra Nova Productions meets the definition of a public benefit entity under FRS 102. Accounting policies Basis of preparation 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 al fair value through income or expenditure. The financial statements are prepared in sterling. which is the funGtional currency of the entity. Going concern There are no material uncertainties about the charity's abilily 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 of the following disclosure exemptions available under paragraph 1.12 of FRS 102.. {al No cash f5ow statement has been presented for the company. Ibl Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect 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 lo be reasonable under the circumstances. 15
Terra Nova Productions Company Limited by Guarantee Notes to the Financial Statements {continugd) Year ended 31 March 2024 Accounting policies (conllnued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricled funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-olasses.. restricted income funds or endowment funds. Incoming resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity., it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entillemenl lo the gift, receipt is probable and ils amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the 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 iricluded for the contribution of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unreslricled funds unless there is a conlraclual requirement for it lo be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. 16
Terra Nova Productions Company Limited by Guarantee Notes to the Financial Statements fcontlnuedj Year ended 31 March 2024 Accounting policies (conlinuFd) 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 heading5 of the statement of financial activities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading aclivilies, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure thal is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable lo a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute lo on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated deprecialion and impairment losses. Any langible assets carried at revalued amounts are recorded al the fair value at the dale of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation. 15 recognised in other recognised gains and losses. unless il reverses a charge for impairment that has previously been recognised as expenditure within the slalement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation. is recognised in othèr recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the slalernent of financial activities. Depreciation Depreciation is calculated so as to write off the cost or valuation of an asset. less its residual value. over the useful economic life of that asset as follows: Fixtures and fittings 20010 Straight line Impairment of fixed assets A review for indicators of impairnient is carried oul at each reportin9 date. with the recoverable amount being estimated 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 at each reporting date. 17
Terra Nova Productions Company Limited by Guarantee Notes to the Financial Statements fcontinuèdj Year ended 31 March 2024 Accounting policies (continued) Impairment of fixed assets (oontlnuedj For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generaling unil is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business Combination is, from the acquisition dale, allocated to each of the cash-generating units that are expected lo benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Defined ¢ontrlbution plans Conlribulions 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 extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee Each of the members of the company has guaranteed to contribute to the assets of the company in the event of the same being would up to the exlenl of £10. Donations and legacies UnrestriGled Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Other donations and legacies Other donations and legacies Exceptional income from donations and legacies 2,747 2,747 98 98 900 900 2.747 2.747 998 998 Charitable activities Unrestricted Funds Restricted Total Funds Funds 2024 Grants Performance Incorne 66,882 66,882 7.106 7.106 7,106 66.882 73,988 18
Terra Nova Productions Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 Charitable activities (continued) Unrestricted Funds Restricted Tolal Funds Funds 2023 Grants Performance Income 117,977 117,977 12.653 12,653 12,653 117,977 130.630 Expenditure on charitable actlvities by fund type Unrestricted Funds Restricted Total Funds Funds 2024 Provision of drama and other activities Support costs 200 7.418 59,298 3,000 59,498 10,418 7,618 62,298 69,916 Unrestricted Funds Restricted Total Funds Funds 2023 Provision of drama and other activities Support costs 19,927 6,782 116,108 3,149 136,035 9,931 26,709 119,257 145,966 Analysis of support costs Analysis of support costs Total 2024 Total 2023 Premises General office Finance costs Governance costs 1,440 2,209 165 1,145 1,440 2,209 165 1,145 2,021 4,172 426 3,329 4,959 4,959 9,948 Net incomel(expenditure) Net incomel{expendilurel is stated after chargingl{crediting}'. 2024 2023 Depreciation of tangible fixed assets 2.844 3.864 19
Terra Nova Productions Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 10. Auditors remuneration 2024 2023 Fees payable for the audit of the financial statements 3,150 2,772 11. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Employer contributions to pension plans 43,237 1,266 43,378 1.515 44,503 44,893 The average head count of employees durlng the year was 2 (2023.. 2). The average number of full-time equivalent employees during the year is analysed as follows.. 2024 2023 No. Employees No employee received employee benefits of more than £60.000 during the year12023'. Nil). Key Management Personnel Key management personnel include all persons that have authority and responsibility for planning. directing and controlling the activities of the charity. The lolal compensation paid to key management personnel for services provided to the charity was £43,442 {2023.'£40.3221. 12. Trustee remuneration and expenses The Charity Trustees were not paid or received any other benefits from employment with the Charity in the year (2023.. £01. They were not reimbursed for any travel expenses during the year 12023-. £01. No Charity Trustee received payment for professional or other services supplied to the Charity12023.. £01. 20
Terra Nova Productions Company Limited by Guarantee Notes to the Financial Statements fcontinu8d) Year ended 31 March 2024 13. Tangible fixed assets Fixtures and fittings Cost At 1 Aprll 2023 and 31 March 2024 Depreciation Al 1 April 2023 Charge for the year At 31 March 2024 19,653 13,394 2.844 16,238 Carrying amount At 31 March 2024 3,415 At 31 March 2023 6.259 14. Debtors 2024 2023 Prepayments and accrued income Other debtors 783 11.725 705 705 12,508 15. Creditors: amounts falllng due within one year 2024 2023 Trade creditors Accruals and deferred income Social security and other taxes 1,704 3,227 1,609 3.150 1,157 4,307 6.540 16. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defin8d contribution plans was £1,266 (2023.. £1,515). 21
Terra Nova Productions Company Limited by Guarantee Notes to the Financial Statements (contAnuedJ Year ended 31 March 2024 17. Analysis of charitable funds Unrestricted funds At 1 April 2023 Income Expenditure Transfers At 31 March 2024 General funds 8,948 9,853 (7,618) 11.476) 9,707 At 1 April 2022 Income Expenditure Transfers At 31 March 2023 General funds 18,677 13,651 126.709) 3.329 8.948 Restricted funds At At 1 April 2023 Income Expenditure Transfers 31 March 2024 Arts Council Nl Belfast City CoLJncil Ards & North Down BC Community Foundation Me You Us Them Comrnunily Relations Council Blueprint Dormant Accounts Future Screens Nl Leche Trust PCSP Ards and North Down Borough Council (166) {8,248) 166 11,000 2.752 4,769 4.769 800 18001 (1.3701 115,581) 115.161) 120.9721 1,370 11,779 2.492 8,147 30,895 2,616 21,125 1.310 23,881 2,769 28.111 66.882 162,298) 1,476 34.171 At At 1 April 2022 Income Expenditure Transfers 31 March 2023 Arts Council Nl Belfast City Council Ards & North Down BC Community Foundation Me You Us Them Communily Relations Council Blueprint Dormant Accounts Future Screens Nl Leche Trust PCSP Ards and North Down Borough Council 24,741 25,465 11,000 1,500 1.000 {46,877) 13.3291 111,000) {1,5001 11.0001 12.4101 11.2701 {10,649) 121,7481 119,3031 12,0001 4,769 4,769 3,210 800 1,270 22,428 29,895 21,919 2,000 11.779 8,147 2.616 1,500 11,500} 32,720 117,977 1119,257) 13,329} 28.111 22
Terra Nova Productions Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 17. Analysis of Charitable funds (continuedj A transfer also took place in the prior year to reclassify Arts Council Nl funding as unrestricted income as part of this funding is lo help replace reserves already committed to keep Terra Nova Productions and their projects alive in the aftermath of the COVID-19 pandemic. 18. Analysis of net assets between funds Unrestricted Funds Reslricled Total Funds Funds 2024 Tangible fixed assets Current assets Creditors less than 1 year Net assets 3.415 6,442 11501 9,707 3,415 44,770 14.3071 43,878 38.328 {4,1571 34,171 Unrestricted Funds Restricted Total Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 6,259 9.229 {6,540) 8,948 6,259 37,340 16,540) 37,059 28,111 28,111 19. Contingent liability A contingent liability exists to repay grants received should certain Gondilions not be fulfilled by the charity. In the opinion of the Trustees, the terms of the Letters of Offer have been. or will be. complied with and no liability is expected. 20. Corporation taxation The Charity's activities fall within the exemptions afforded by the provisions of the Income and Corporation Taxes Act 1988. Accordingly, there is no taxation charge in these accounts. 21. Ethical standards In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements. 22. Related parties Terra Nova Productions reimburse staff members for expenses incurred on behalf of the company which have been initially settled personally by the employees. 23
Terra Nova Productions Company Limited by Guarantee Management Information Year ended 31 March 2024 The following pages do not form part of the financlal statements. 24
Terra Nova Productions Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Income and endowments Donations and legacies Other donations and legacies Exceptional income from donations and legacies 2.747 98 900 2,747 998 Charitablo activities Grants Performanoe Income 66.882 7.106 117,977 12.653 73,988 130,630 Total income 76,735 131,628 25
Terra Nova Productions Company Limited by Guarantee Notes to the Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Expenditure on charitable activities Provision of drama and other activities Activities undertaken directly Wageslsalaries Employer Pension Travel and Subsistence Costs Professional fees Depreciation Interest Artist fees and production costs Marketing 43,237 1,266 340 6.684 2,844 43,378 1,515 7,245 5.820 3,864 4,982 140 68,644 5,569 59,498 136,035 Support costs Light & heal Insurance Motor & Travel costs General office costs Printing, postage & stationery 1,336 1,825 1,149 872 35 3,905 232 3,679 6.840 6,193 Governance costs Accountancy fees Audit Fees Bank Charges 133 3,150 295 540 2,772 426 3,578 3,738 Expenditure on charitable activities 69,916 145.966 26