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