Charlty registration number NIC 101603
Company registration number N1609126 (Northern Ireland)
ARTS & BUSINESS NORTHERN IRELAND
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

ARTS & BUSINESS NORTHERN IRELAND
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
S Deignan
D Mc Parland
L P Murphy
C Sharpe
D M Roberts
G Armstrong
Emma Drury
stephen Mccrystsll
Lisa Dohety
Joe Dougan
Deborah Collins
(Appointed 28 March 2024)
(Appointed 28 March 2024)
(Appointed 8 De￿mber 2023)
(Appointed 8 De￿rnber 2023)
(Appointed 8 December 2023)
Secrntary
D Mc Parland
Charlty number
NIC 101803
Company number
N1609126
Reglstsred office
East Belf8St Network Centre
55 Templemore Avenue
Belfast
8T5 4FP
Audltor
Harbinson Mulholland
Centrepoint
24 Ormeau Avenue
Belfast
Co. Antrim
Northern Ireland
BT2 8HS

ARTS & BUSINESS NORTHERN IRELAND
CONTENTS
Page
Chair's Report
Trustees, report
Statement of trustees, responsibilities
10
Ind8pendent auditor's report
Statement of flnanclal activities
14
Balance sheet
15
Statement of cash flows
16
Notes to the financial statements
17-28

ARTS & BUSINESS NORTHERN IRELAND
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
At Arts & Business Nl our core belief is that the Arts are fundamental to how we successfully funclion as a society
and that creativity drives performance and prosperity. We are committed lo our objectives of providing strategic and
practical support lo the arts sector and working alongside our arts and business sector partners lo inspire, grow and
support relationships and investment in the Arts, to strengthen that sector and shape a society that is culturally,
socially and economically prosperous.
Anticipating and understanding the needs of our members is essential as we work to ensure we are delivering
'mely, effective and targeted programming We are committed lo being adaptable and ambitious as we play our
part in supporting the growth of a culturally rich and strong Northern Ireland, able to thrive whilsl withstanding
external economic pressures.
Through the support of our principal funder, the Arts Council of Nl. and our other funding stakeholders and partners,
we are again proud to have delivered a high-quality programme of activities and services designed to drive
perfomiance across both the arts and business s8clors.
Throughout 2023124 our Arts members benefitted from a wealth of bespoke support and advice as well as thought-
leadership, governance and funding information, provided via one-to-one SLJrgeries, workshops, conferences,
podcasts, webinar5 and newsletters. Our programme was designed lo build confidence and encourage fresh
thinking in tackling the many issues facing arts organisalions al this time. The financial pressures of increased
running costs, the cosl-of-living crisis and reduced govemment funding combine to make this a challenging
environment for arts organisations and those who might have considered a career in the sector. New business
models, diversified income streams, effective impact evaluation and robust governance are vital for survival in this
economic climate. Arts & Business Nl provides the guidance and support our members need to thrive and make
Northem Ireland a belter place for all of us.
Our ground-breaking Blueprint Programme has been providing training via peer learning and support, thought
leadership, mentoring and a suite of learning resources for 17 arts organisalions. The provision of investment grants
and training tailored lo their specific needs has been critical to encourage ambition, free up capaaty, test new
income generating ideas and drive confidence to invest for financial growth. We have embedded learning and
resoiirces from Blueprint into our wider membership offer.
Our business network conlinLied lo support and strengthen the arts Following our bespoke guidance and
governance training we matched business individuals onto the boards of arts organisalions, brokered numerou5
creative partnerships and provided mentoring opportunities Our business professionals engaged with and informed
our advice and support across our memberships. We were pleased lo maintain our business member numbers over
the year, demonstrating that the private sector values the arts and the enrichment the arts bring to their businesses
and Our society. 8usiness challenges identified through round-table discussions with members formed the basis of
our member events and led lo high levels of engagement and allendance
The A&BNI Investment Programme. funded by Arts Council of Northern Ireland, continLied to boost partnerships
between local businesses and arts organisations, encouraging them to extend their relationship lo undertake
additional activity In this financial year we supported 20 projects through the A&BNI Investment Programme and w&
are pleased to note 704/0 of those were first time partnerships and 35°/o were for activities taking place outside
Belfast. The value that the business sector sees in employing creative partnerships to address their business goals
is evidenced by the number of applications we see coming through the Investment Programme Their recognition of
the imporlance of a vibrant arts and cultural sector in making this an attractive place to do business is vital
We held ourArts & Business Nl Awards 2024 al Lyric Theatre Belfast to celebrate the very best in arts and business
collaborations. Hosted by Joe Lindsay and with awards pieces commissioned from Ned Jackson-smyth, our event
shone a spotlight on the important work being undertaken through cross-sector re13tionships across Northern
Ireland and was an opportunity to congratulate inspirational organisations and partnerships and lo enjoy an uplifting
evening of music, poetry and dance from our talented local artists.

ARTS & BUSINESS NORTHERN IRELAND
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
Mark Robinson of Thinking Practice led a Board & Staff strategic planning session to lay the foundations for
developmenl of our next 3-year stralegiG plan {2024-20271. The governance session with the A&BNI Board and staff
looked at our purpose, mission, vision and strategic aims. We were also delighted to secure a place on a fully
funded Scaling Impact & Financial Resilience workshop offered and funded by Esmee Fairbairn Foundation and
delivered by Resonance, a leading UK social impact investment company based in London. The workshop was
aimed at reviewing the organisation's current impact, business model and financial standing, as well as exploring
new opportunities to build resilience going fo￿ard. This full-day workshop, attended by the board and staff,
informed our strategy and financial growth plan We worked with Sean Filz5imons on the development and
implementation of our Equality, Diversity & Inclusion {EDI) Policy to raise our awareness and ensure that A&BNI is
accessible and welcoming to all This work has also informed our approach lo the process we use for recruitment of
additional members onto our board.
I would like to thank our funders, in particular the Arts Council of Nl, our sponsors, ourA&BNI staff team who bring
wealth of knowledge, enthusiasm and passion to all that they do, my colleagues on the A&BNI board f￿ their
support and commitment. and our arts and business members without whose support none of this would be
possible A summary of all our activities across the 2023124 year is detailed in the following report.
To see our full range of work and support services visit our website at www.artsandbusinessni,org.uk
Damlan McParland, Chalr
Dated..

ARTS & BUSINESS NORTHERN IRELAND
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The trustees present their annual report and financial statements for the year ended 31 March 2024.
The accounts have been prepared in accordance with the accounting policies set out in note 1 to accounts
and comply with the charity's Articles ofAssociation, the Companies Act 2006 and Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as arnended for
accounting periods commencing from 1 January 2016).
Objectlves and actlvltles
Mission:
Arts & 8LlSiness Nl is a creative membership network bringing together cultural and commercial businesses,
helping them grow stronger together through the power of partnership
We advocate for the value of arts, invest in innovation, and ensiire th31 the Nl arts and cultural sector has
the confidence, capacity. and skills to achieve creative freedom through financial independence.
Vlslon:
A valued and thriving arts and creative sector achieving their ambitions and fulfilling their potential.
The purpose of the charlty..
The Sustainability of the Arts.
Values:
Ambition
We are ambitious and inspire ambition in others,
Creatlvlty
We passionately champion and celebrate creativity,
Collaborative
We are a welcoming trusted, well-connected partner who will foster collaboration.
Inclusive
We ensure inclusivity and belonging by listening. lesrning and being guided by experts.
Strateglc outcomes:
Have changed the altitude and confidence of the sector towards diversified income leading to greater
capacity and skills.
A&BNI continue to lead on the value of the arts: creativity and the value of corporate-cullural partnership to
businesses and communities.
Cullivale our creative networks lo lead to meaningful and mutually benefIc￿al connections that will drive
business performance and strengthen the arts.
Have ensured that A&BNI is organisationally adaptable and sustainable by being visionary. bold and brave.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertake.

ARTS & BUSINESS NORTHERN IRELAND
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Activity Overview in 2023-24:
Strengthenlng governance on cultural boards:
We see governance as a pro-active, ethical. leadership commitment. and this drives our resolution to support
board members throughout their time in office We provided bespoke board sessions, supported Trustees via
confidential governance consultations, and worked with them as a strategic associate, drawing on our cross-
sector knowledge. resources and network.
We ran a number of our Fundamenlals of Arts Board Membership sessions during the year. These half-day
workshops help lo strengthen arts boards and equip arts and cultural leaders lo know best practice for board
members and the realities of arts charity governance. The workshop looks at the compliance requirements of
being on a Board, covering roles and responsibilities plus Imanagerial, legal and financial duties.
A&BNI is an active member of the Developing Governance Group that produces the Code of Good Governance,
which is endorsed both by Charity Commission of Nl ICCNI) and Arts Council of Nl IACNII and manages a
shared online resource of templates and information al ￿ diycommitteeguide.org
We held a Cultural Governance Conference for our arts members. During this high-level half-day conference, we
showcased inspirational speakers from the UK and Ireland who champion change and charity leadership. The
conference included conversations about risk taking, fundraising, diversity, cyber security and more from experts
in their fields We also provided a choice of breakout sessions designed to provide inspiration and practical tools
that attendees could lake away for their organisalion and board lo implement
We believe that if cultural organisations are to fulfill their true potential the whole organisation must be functioning
and effective. To help strengthen governance and SUPPOfl sustainability, A&BNI mobilise our business networks
to support arts organisalions through sharing skills and advice and taking parl in oLir board matching
programmes. We were delighted that A&L Goodbody agreed to become a sponsoring partner for our Leader5 on
Arts Boards programmes and facilitated the training for our Young Leaders on Arts Boards group. giving not just
their lime and expertise lo the programme but also the use of their premises Our cohort of 19 Young Leaders
and Business Leaders on Arts Boards undertook a series of training sessions throughout October and November
and then embarked on the matching process to place them on the boards of arts organisations where their skills
and enthusiasm will be most effective
"The Young Leaders on Arts Boards programme has been fundam8ntal to my success in 8 lead8rship rol8, It s
videned my horizons, introducgd me to n8bV P80ple, exp8riences and development opportunities. I've alkvays
had a passion for 8fts and Cultu￿ and being paired with Maiden Voyage Dancg bv8S 8 perfect fit. My experience
of Joining a board has bgen incipdibly positive, from my very first meeting I was i,velcomed, and my opinions bvere
valu8d,' I really fell like l trvas as part of the organisation. 88ing a board m8mber is a r8ally greal way to share
your skills and give son7ething back to the causes you care about.
Kathryn Mccann, People & Culture at Whitespace, programme participant
matched with the Board of Maiden Voyage Dance
Skills development and support for Income dlverslficatlon for the Arts:
Our programme of activity for the Arts was carefully created to be relevant to all sizes and types of members, and
to respond lo critical needs faced by the sector. We offered our membership a range of training. resources and
events that encouraged them lo critically investigate key ideas and models of arts fundraising, cultural
leadership, organi5ational developmenl and change management.
As well as providing confidential support we were also able to signpost members to extensive resources and
toolkits available through our website We delivered more than 60 one-to-one advice surgeries covering a broad
range of important topics including income generation, governance, fundraising strategy, Trusts & Foundations,
sponsorship and developing creative training sales pitches.
We launched a new peer led. networking, support and information group for our members. Through 'Fundraising
Connections, we share upcoming fundinglgrant opportunities, fundraising events, training and other resources on
different aspects of fundraising. This is a new quarterly event to build confidence in fundraising, individual giving
and more.

ARTS & BUSINESS NORTHERN IRELAND
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Through our arts events programme our members were able to learn from high-profile speakers. Mark Robinson,
an author, researcher, facilitator, strategist, coach and editor, delivered a number of thought-leadership sessions
for us. These included a creative resilience session full of practical tools and inspirational advice.
Theory of Change was a practical and interactive workshop to help understand the aims, vision and impact of
projects and arts organisations This session helped attendees learn how they can measure the full impact of the
activity they are doing and open up new pathways for growth and development.
We ran a comprehensive series of events for our arts members around our TrLlSts & Foundations Symposium to
ensure they got as much as possible from the unique opportunity to sit down and have face to face conversations
with representatives from grant givers Our Trusts & Foundations Introduction webinar offered attendees the
opportunity 10 attend a preparation session with the A&BNI Team ahead of our Trusts & Foundations Symposium.
Attendees got insight on how to prepare for the Symposium, how to make the most of their on&on-ones with
funders on the day, and how to keep on track with submitting applications. Our Art of the Pitch workshop was an
opportunity for attendees to gain practical knowledge on what lo put in their pitch, essential presentation skills
and lo produce and practice their 'elevalor pitch, in a safe space, receiving practical feedback from a panel. Over
the years our annual Trusts & Foundations Symposium has facililaled over 600 one-to-one funding surgeries,
helping to generate substantial amounts of money and support for the Cultural Sector in Northern Ireland. This
year attendees heard directly from the Foundations on their funding priorities, gained an insight into the decision-
making process and received lop tips for applications. We had representatives from 9 TrLlSts & Foundations in
attendance plus 3 volunteer speakers al the plenary and we provided 86 one to one surgeries. Later we ran a
Boolcamp lo share gLiidance from expert fundraisers to help organisations follow through and complete a Trusts
& Foundations application.
"l just wanted lo let you know some good news.
After the meet the funders event at rh8 CTrscent earlier this year. We applied to Community Foundation ana
IEGeived funding
We also applied to Children in Need and just lound oul bve rec8ivgd funding for the next two yearsll
We are over the moon. We would nev81 have submitted those applications if il wasn't for this Arts & Business
evenl. Meeting the funders in this way demystified the process for us and gave us confidence lo apply.
Sam Porciello. Place to Wonder
Our Individual Giving Webinar with UK based fundraising consultant, Dana Segal, was an introduction lo
individual giving in the arts, designed to engage and inspire people to consider il as part of their fundraising
aclivily.
Available only to A&BNI arts memtser organisations, the dedicated members-only area of our website gives
acces5 to resources including webinars, training films. toolkits and presentations to develop knowledge and
skills We continue to add expert content lo this area providing our mernbers with access to valuable resources
whenever that may be required. We have also added a number of inspirational blogs written by our guest
speakers allowing access at any lime
Our five-year long Blueprint programme which started in January 2022 is the result of 5 years of research and
fundraising by Arts & Business Nl. The programme supports a network of arts and cullLiral organisalions to
encourage income growth and long-term financial stability In addition to tailored training and mentoring. the
programme includes access to investment grants. Through Blueprint. Arts & Business Nl are providing a catalyst
for transformational change. during an incredibly challenging time for arts organisations Blueprint aims to deliver
significant and lasting benefits to the arts sector in Northern Ireland. It gives participants. not only financial
interventions, including up to £30 000 for 17 organisations in year 1 , but also the tools and knowledge they need
to succeed through tailored training, mentoring and support. The programme asks the organisations involved to
look at all elements of their work, to find the change that will make them more resilient and allows them to
develop The five-year programme is comprised of two phases In Phase 1 (Jan 22-Jun 22130 organisations
took part in training and mentoring which aimed to lay the foundations for building lang term financial strength. As
part of the programme participants have had access to one-to-one mentoring, learning resources and a peer-
learning neiwork. In Phase 2 12022-20261 in addilion to training, mentoring and the peer learning network, 17 of
the original organisations have access to investment grants that will help them free up capacity, test new income
generating ideas and invest in, and incenlivise, financial growth. Grants of £390K were issued to 17
organisations in March 2023. Regular meetings allow participants to share their experiences and support each
other in their development.

ARTS & BUSINESS NORTHERN IRELAND
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
An important element of Blueprint is sharing learning and resources from the Blueprint programme and model
with our wider arts membership and the sector. The principles of Blueprint and many of the speakers from the
programme have informed and featured in our wider arts offef Our Nl Arts Funder Exchange and our Blueprint
Funder Stakeholder group la cohort of public and private funders of Blueprint) is a forum for funde￿ to come
together to explore insight5 from the Blueprint model and discuss how funder practice and collaboration can build
a stronger funding ecology that supports and builds long term financial strength within the sector.
Forying creative arts and business partnerships:
A&BNI is committed to driving business performance throLsgh cultural partnerships The A&BNI Inveslment
Programme. funded by Arts Council of Northern Ireland. enables us to seed sustainable partnerships between
local businesses and arts organ￿saIlOns with financial and activation support. The Investment Programme
encourages businesses lo take risks challenges parlnerships to broaden and deepen their connections, and
through il w& draw additional business resources into the arts. The Programme supports and encourages
working relationships lo develop into longer term mutually beneficial partnerships.
In this financial year w8 SUPPOrted 20 projects through the A&8NI Investm8nt Programme and We￿ pleased to
i?port that 70/0 of those werg lirsl lime partnerships and 350/0 were for activities taking place outsicle Belfasl The
number of applications coming throujc h this programme confirms the value that the business sector sees in using
creative partnerships to addiBss their busine55 goals Their recognition that a vibrant arts and cultural s8Glor is a
key element in making this 8n attractive place to do business, and can positively affect their workforce, is
particularly important in the current econon7ic climate. Wilh many lender processes now requiring evidence ol
business comn7ilment to ESG, kve expect demand for support from this programme to increase,
'We were gratified in the knowledge that 1118 had invested in an 8V9nt that will have a positive impact in young
lives and hopefully instil a love of arts and culture as they continue Èhrough life
Celine Coleman, Aircoach
"This temporary iBinvention of the building has invigorated and animated not just th& building but also assisled in
a ￿posItiOn1ng of the neighbourhood."
Brlan Gaffney, Savills
Case Study: Stendhal Festlval & Alchemy Technology Servlces
Stendhal Festival Ltd and Alchemy Technology Services joined forces for the common good of developing
creative capacity in the Northwest region, through a love of music and appetite to develop aLidiences and the
wider economy via sponsorship and investment in Stendhal Festival 2023 Al the heart of this partnership is
Slendhal's new strategic approach to music programming and developing financial capacity and resilience to
enable them to book more internaticnal artists for Iheir Main Stage. This will act as a catalyst to drivelallract
further footfall lo the event as well as lo inspire and capture the imagination of local artists, prospective artists
and audiences. via counterculture and new experiences from other parts of the world.
Objectlves of the partnership for Alchemy Technology Servlces:
Efflployee engagement exercise Target. over 700/0 engagement.
Play their part in positioning the NW as an attraclive place to live and work.
Support wider economiclcultural development in the Northwest.
Objectives of the partnership for Slendhal Festival:
stendhal Festival Ltd to realise largest evenllorganisalional budget to date.
Increase footfall from the Northwest and Derry
Attract further significant sponsors for 2024 event as a result of largest ever sponsor in 2023.

ARTS & BUSINESS NORTHERN IRELAND
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Ross Parkhill of Stendhal reported 'We were able to keep our promises and strategy as envisaged and deliver
our best programme lo dale in terms of diversity, and thus we feel our relationship with Alchemy is as strong as it
could possibly be after our first partnership. With talk already about enhancing the partnership next year, I have
no doubt this Is in large part thanks lo this investment by A&BNI. Going through this process has also given us
confidence to look at doing more and more in seeking new sponsors and not being afraid of working with new
partners on five figure agreements. Such tangible outcomes for us have most certainly ignited our appetite to
push for further relationships and further develop the capacity and outpuls of our work Following on from this
project and a significant uplift in sponsorship and the professional nature of the project {dealing with Alchemy
marketing deptiteam elcl we are now confident in working with bigger sponsors and ensuring their needs and
aspirations are mel alongside the many competing demands of producing the event.,
'The feedback from Ihe team has been very positive and we have already bgen getting suggestions aboijt future
years such as a dedicated camp site so thal everyone can stay etc.
I personally thought that th8 family atmosphere that you have achieved, and the caring safe environment was
just bvhat I h&d hoped for.
Well don8 to you and the team and w8 look fornvard to working with you in the future.,
John Harkin, Alchemy Technology Servlces
'St8ndhal Festival Ltd Ivere delighled with this partnership for Stendhal 2023, and further v8ry grateful lo A&8NI
for the initial introduction.
John, Erin and the ￿Vider teain al Alchemy T8chnology Se￿iCes were a dream to work ￿Vith and ieally erribraced
the spirit of Stendhal and our objectives.
Arts and Business Nl and the Investment Programme support, along trvith Ihe sponsorship, proved critical in
maintaining the event (and outputs of the organisation) for another year- especially in the face of olher financial
pressures including in yec?r funding losses. We are very grateful for that opportunity and the belief in continuing
our efforts to dglivgr the largesl indigenous/ immersive event in Ihe Northbvest if not Nl.
Ross Parkhill, Stendhal Festival Ltd
Advocatlng for creative buslness and arts partnershlp:
The A&BNI events programme is a key tool in encouraging and inspiring private sector support for the Arts. Our
Arts & Business Nl bLisiness evenls are designed lo engage, educate and most importantly inspire Our event
themes are shaped by the business priorities our members share with us at our roundtable events which we hold
twice per year We encourage and support our business members lo slep outside their comfort zones. lo take a
risk and try something new We showcase best practice and tell evidence-based stories which demonstrate that
partnering with arts Ofganisations has worked for other businesses. Artistic collaborations offer creative solutions
to business challenges.. we describe in delail the impact at each stage to reassure our clients that creative
partnerships deliver quantifiable business outcomes. All of our business events have a clear purpose and
messaging. We plan our business events lo be inherently practical., our guests leave our events with a clear
takeaway and a well-defined understanding of next steps.
Our calendar of business evenls is designed to e17sure that we advocate the business benefils of engaging with
an arts organisation vvhelher through corporate partnerships, staff volunteerirpg opportunities, or serving on Ihe
board of an arts organisation.
As well as our showcase Awards event, we hosted a Celebrating Creative Partnerships event to look at our
award-winning partnerships in more detail and to address some of the questions that many organisations have
before they lake the plunge inlo starting a cross-sector relationship
Through our thought leadership events we show the transformative power of the arts and feature a range of
experts from both the business and arts sectors to ignite interest in new partnerships. We are regularly asked to
connect business and arts organisalions after events to discuss possible future collaborations. We see the value
these partnerships bring and are dedicated lo sharing and showcasing local sliccess stories.

ARTS & BUSINESS NORTHERN IRELAND
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
We continue lo grow private investment in the creative industnes through developing bespoke arts activity to
answer business challenges. By meeting with businesses and listening lo their concerns and goals we draw on
our knowleijge of our arts membership lo suggest ways to creatively address those challenges and we make the
connections needed to bring the parties together to develop programmes of activity to deliver outstanding results.
For instance, we ran a series of lunchtime learning sessions in Belfast City Centre demonslraling how the soft
skills routinely used by arts organisations can be laught and adopted for the benefit of other businesses.
One of our key strategic goals is lo have a truly engaged and informed business membership network that is
representative of the private sector in Northern Ireland. Despite the challenging business environment, we
conlinue to bring on new members across a range of business sectors while retaining a large proportion of our
existing business members. Through promoting corporate partnerships, championing creative training and
mobilising business employees as audiences and volunteers, we ensure that relationships across our
memberships are deeply rooted in btjsiness strategies and not merely transactional We have been pleased to
note that many partnerships have evolved over the course of the year and are developing into longer term
mutually beneficial relationships
Our Creative Networking events were particularly popular. giving arts organisations and businesses the
opportunity to sil down and have short face-lo-face introductory chats aboLII ways they might be able lo work
together in the future.
Our marketing strategy often co-ordinating messaging with our clients, and planning social media and press
activity for specific largel audiences. led to more impactful communications across all platforms The A&BNI
What's On Guide was distributed monthly to over 400 business Gontacts who in turn shared the Guide with their
colleagues and families, resulting in a readership of 5000 We encouraged attendance at a huge range of ocir
arts members, events and activities and catered to all ages and preferences.
We nLlrtured our relationships with business umbrella networks such as the Chamber of Commerce, Institute ol
Directors. and Federation of Small Businesses to maintain A&BNI's profile and reputation with the private sector.
We addressed a meeting of the CBI People & Skills Network lo share examples of how we work with businesses
in relation to attracting and retaining talent, skills development, EDI. wellbeing and cultural brand alignment.
The support of volunteers as speakers. menlors, judges, advisors, in board placements. or in wriling blogs, has
been critical in ensuring that we have been able to share the highest quality of knowledge and skills during the
year We engaged 76 volunteers who gave over 400 hours of their time to us, Peer to peer advocacy remains
highly valued as a method of spreading the Arts & Business Nl message A number of businesses also provided
goods and services lo us and our members free of charge
we were delighted that A&L Goodbody agreed to
become a sponsoring partner for our Leaders on Arts Boards programmes also giving their lime and exFertise to
facilitating the training for our Young Leaders on Arts Boards group. Vertical Structure provided Cyber Security
Training.. Vvhitenoise supported us with branding and design services.
What our members say..
"Destination CQ BID has support8d 75 Arts and Cultural events in 2023 which attracted additional footfall ol
100, 000 bvho trvill have spenl around £ 72m whilst in the area. These festivals and cultural events are key to the
success of Calhedral Quarter and the bvider City Supporting them to th8 extent that we do, ensures that we
retain our standing as the cultural and hospitality heart of Ihe city .and it makes good business sense.
Damien Corr, Destlnatlon CQ BID
"Arts & Business Nl.. has opened the doors lo lasting and mutually beneficial partnerships bet￿yeen ourselves
and some of the most talented local arts orcJ8nisations.
PR Manager, Transllnk
"This year ttrvo of Alchemy's major c?rts investments vvere match funded through a￿VardS from A&BNI s
Investmenl Programn19. These a￿VardS brought significant added value to our company as an investor, to our
continued membership of A&BNI and mosl importantly to t¥vo nebv community led arts partnerships. The
Investment Progran7me strengthened the business case to sponsor both Stendh81 and Le Foyer des Artist8s this
financial year by providing the match funding to enable our partners to develop new and innovative elements to
Iheirprogr8mmes, that olhenvise vvould not have been possible.,
Alchemy Technology Services

ARTS & BUSINESS NORTHERN IRELAND
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financial revlew
The year end accounts return an unrestricted surplus of £15,566 (2023.. £10,073) and a restricted surplus of
£125,460 (2023. £99,000) being an overall surplus of £141,026 (2023.. £109,073>.
The reserves of the organisation now amount to £649,764 (2023.. £508,738) of which £243,382 (2023.. £227,814)
are unrestricted and £406,382 (2023.. £280,924) are restricted.
As part of the organisation's long-term financial sustainability plan, in 202012021 the Board and staff developed a
3 Year Financial Sustainability Plan. This plan will provide a framework for strategies to Increase earned income,
build on successes to date, and look to other new income opportunities.
Structure, governance and management
The Board comprises a maximum of 12 members who meet quarterly and are responsible for the strategic
direction and policy of the charity. It is board policy for directors to serve for a period of 3 years, after which they
must be re-elected at the following AGM. The directors, liability is limited by guarantee. Board members
participat8 in sub-committees, which meet regularly to ensure that operational policies. procedures and systems
incorporate sound management and financial controls in keeping with current best practice.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up
to the date of signature of the financial statements were..
S Hayles
(Resigned 1 April 2024)
S Deignan
D Mc Parland
L P Murphy
C Sharpe
D M Roberts
G Armstrong
Emma Drury
Stephen McCryst811
Llsa Doherty
Joe Dougan
Deborah Collins
(Appointed 28 March 2024>
{Appointed 28 March 2024)
{Appointed 8 December 2023)
(Appointed 8 December 2023)
(Appointed 8 December 2023)
Audltor
In accordance with the company's articles, a resolution proposing that Harbinson Mulholland be reappointed as
auditor of the company will be put forward at a Gener81 Meeting.
The trustees, report was approved by the Board of Twstees.
D Mc Parland
Trustee
Dated.. b .9. 24....

ARTS & BUSINESS NORTHERN IRELAND
STATEMENT OF TRUSTEES, RESPONSIBILITIES
FOR THE YEAR ENDED 31 MARCH 2024
The trustees, vtho are also the directors of Arts & Business Northern Ireland for the purpose of company law. are
responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true and
fair view of the state of affairs of the charity and of the incoming resources and application of resources, including
the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
select suitable accounting policies and Ihen apply them conslstently;
- observe the methods and principles In the Charltles SORP.
make judgements and estlmates that are reasonable and prudent.,
state whether applicable UK Accounting Standards have been followed, Subject to any material departures
dlsclosed and explained in the financial statements., and
prepare the financial statements on the going concem basls unless it is inappropriate to presume that the charity
will continue in operation.
The trust88s are responslble for keeping adequate accounting records that disclose with reasonable accuracy at
any time the financial position of the charity and 8nable them to ensure that the financial statements comply with
the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
D Mc Parfand
Trustee
10-

ARTS & BUSINESS NORTHERN IRELAND
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF ARTS & BUSINESS NORTHERN IRELAND
Oplnion
We have audited the financial statements of Arts & Business Northern Ireland (the 'charity') for the year ended 31
March 2024 which compnse the statement of financial activities, the balance sheet. the statement of cash flows and
notes to the financial ststements, including significant accounting policies. The financial reporting framework that
has been applied in their preparation is applicable law and United Kingdom Accounting Slandards. induding
Financial Reporting Standard 102 The Financial Reporting Standard applicable 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 state of the charitable company's affairs as at 31 March 2024 and of its
incoming resources and application of resources, for the year then ended,.
have been prO￿rIY prepared in accordance with United Kingdom Generally Accepted Accounting Practi￿,.
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for oplnlon
We conducted our audit in accordance with Intemational Standards on Auditing {UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Audilorfs responsibililies for the 8udit ol
the financial statements section of our report. We are independent of the charity in accordance with the ethical
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
Standard, 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 appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
In audrting the financial statements, we have concluded that the trustees, use of the going concem basis of
accounting in the preparation of the financial statements 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
concem for a period of at least ￿e1ve months from when the financial statements are authorised for issue.
Our responslbilitles and the responsibilities of the trustees with respect to golng concem are described In the
relevant sections of this report.
Other inforniatlon
The trustees are responsible for the other infomiation. The other information comprises the information included in
the annual report, other than the financial statements and our auditor'5 report thereon. Our opinion on the financial
ststements does not cover the other infomation and we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibilty is to read the other infomiation and, in
doing so, consider whether the other information is materially inconsistent with the financial statements or our
knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material
inconsistencies or apparent material misstatements, we are required to determine whether there is a material
misstatement in the financial statements or a material misstatement of the other infomiation. If, based on the work
we have performed, we conclude that there is a material misstatement of this other information, we are required to
report that fact.
We have nothing to report in this regard.
11

ARTS & BUSINESS NORTHERN IRELAND
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ARTS & BUSINESS NORTHERN IRELAND
Matters on whlch we are requlred to report by exception
We have nothing to report in respect of the following matters In relation to which the Charities (Accounts and
Reports) Regulations 2008 require us to report to you if. in our oplnlon..
the information given in the financial stalements is inconsistent in any material respect with the trustees,
report; or
sufficient accounting records have not been k8Pt'. or
the financial statements are not in agreement with the accounting records; or
we have not re￿iVed all the information and explanations we require for our audtt.
Responslbllltles of trustees
As explained more fully in the statement of trustees, responsibilities, the trustees, who are also the directors of the
charity for the purpose of company law, are r8sponsible 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. In preparing the financial statements, 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
concem basis of accounting unless the trustees either Intend to liquidate the charitable company or to cease
operations, or have no realistic alternative but to do so.
Audltor's re$ponslbllltles for the audlt of tha flnanclal statements
We have been appointed as auditors under section 65 of the Charities Act (Northern Ireland) 2008 and report in
accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditorfs r8POrt 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 expected to influence
the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures are capable of detecting irregularities, Including fraud, is detalled below.
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulab'ons;
we identified the laws and regulations applicable to the charity through discussions with trustees andlor senior
management, and from our commercial knowledge and experience of the sector;
we focused on specific laws and regulations which we considered may have a direct material effect on the
financial statements or the operations of the charity, including Companies Act 2006, taxation legislation, data
protection, anti-bribery, employment, environmental and health and safety legislation-
we assessed the extent of compliance with the laws and regulations identified above through making enquiries of
management and inspecting legal correspondence,. and
identified18ws and regulations were communicated within the audit team regularly and the team remained alert to
InStan￿S of non-compliance throughout the audit.
We assessed the susceptibility of the charity's financial statements to material misstatement, including obtsining an
understanding of how fraud might occur, by:
making enquiries of management as to where they considered there vrfas susceptibility to fraud, their knowledge of
actual, suspected and alleged fraud", and
considering the internal controls in pla￿ to mitigate risks of fraud and non-compliance with laws and regulations.
12-

ARTS & BUSINESS NORTHERN IRELAND
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF ARTS & BUSINESS NORTHERN IRELAND
To address the risk of fraud through management bias and override of controls, we..
performed analytical procedures to identify any unusual or unexpected relationships.,
tested joumal entries to identify unusual transactions;
assessed whether judgements and assumptions made in detemiining the accounting estimates set out in Note 2
were indicative of potential bias., and
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed prO￿dureS
which included, but were not limited to..
agreeing financial statement disclosures to underlying supporting documentation.,
reading the minute5 of meetings of those charged with govemance.,
• enquiring of management as to actual and potential litigation and claims.
There are inherant limitations in our audit procedures desuibed above. The more removed that laws and
regulations are from financial transactions, the less likely it 15 that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulalions to
enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from etror as they may
involve deliberate concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at= https'.11
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditor's report.
This report is made solely to the charity's trustees, as a body, in accordance with part 4 of the Charities (Accounts
and Reports) Regulations 2008. Our audil work has been undertaken so that we might state to the charity's trustees
those matters we are required to state to them in an auditors, report and for no other purpose. To the fullest extent
permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's
trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Angela Craigan FCA (Senlor Statutory Audltor)
for and on behalf of Harblnson Mulholland
Chartered Accountants
Statutory Audltor
Centrepoint
24 Omieau Avenue
Belfast
Co. Antrim
Northern Ireland
BT2 8HS
Harbinson Mulholland is eligible for appointment as auditor of the charity by virtue of its eligibility for appointment as
auditor of a company under section 1212 of the CompaniesAct 2006.
13

ARTS & BUSINESS NORTHERN IRELAND
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestrfctsd Restricted
funds
funds
2024
2024
Totsl Unrestricted Restricted
funds
funds
2023
2023
Totsl
2024
2023
Notss
Income and 6ndowments from:
Donations and legacies
Charitable activlties
Other income
104,085
275,038
5,926
104,085
631,458
5,926
99,165
254,774
2,743
99,165
818,778 1,073,552
2,743
356,420
Total Income
385,049
356,420
741,469
356,682
818,778 1,175,460
Charitable activities
369,483
230,960
600,443
348,609
719,778 1,066,387
Net income and movement In
funds
15,568
125,460
141,026
10,073
99,000
109,073
Reconcillatlon of funds:
Fund balances at 1 April 2023
227,818
280,922
508,738
217,741
181,924
399,665
Fund balances at 31 March
2024
243,382
406,382
649,764
227,814
280,924
508,738
The statement of financlal activities includes all gains and losses recognised in the year. All income and expenditure
derive from continuing activities.

ARTS & BUSINESS NORTHERN IRELAND
BALANCE SHEET
AS AT31 MARCH 2024
2024
2023
Notes
Flxed assets
Tangible assets
11
3,951
3,128
Current assets
Debtors
Cash at bank and in hand
12
48,488
628,398
98,276
467,122
878,886
565,398
Credltors: amounts falllng due wlthln
one year
13
31,073
59,788
Net current assets
645,813
505,610
Total assots1•88 currant Ilabllltles
649,764
508,738
The funds of the charlty
Restricted income funds
Unrestricted funds
16
406,382
243,382
280,924
227,814
649,764
508,738
The company is entitled to the exemption from the audit requirement contsined In section 477 of the Companies Act
2006, for the year ended 31 March 2024, although an audit has been carrled out under seclion 65 of the Charities
Act (Nl) 2008
The directors acknowledge their responsibilities for complying wlth the requirements of the Companles Act 2006
with respect to accounting records and the preparation of financlal statements.
The members have not required the company to obtaln an audlt of tts financial statements under the requirements
of the Companies Act 2006, for the year in question in accordan￿ with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
The financial statements were approved by the trustees on .
D Mc Parland
Trustee
Company registration number N1609126 (Northern Ireland)
15-

ARTS & BUSINESS NORTHERN IRELAND
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flow5 from operatlng actlvltles
Cash generated from operations
20
164,169
66,217
Investlng actlvltles
Purchase of tangible fixed assets
(2,893)
12,197)
Net cash used In Investlng actlvltles
(2,8931
(2,197)
Net cash used In flnanclng actlvltles
Net Increase In cash and cash equlval8nts
161,276
64,020
Cash and cash equivalents at beginning of year
467,122
403,102
Cash and cash equlvalents at end of year
628,398
487,122
16-

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcles
Charlty informatlon
Arts & Business Northern Ireland is a private company which has obtained charitable status with HMRC and
which is limited by guarantee incorporated in Northern Ireland. The registered office is East Belfast Network
Centre, 55 Templemore Avenue, Belfast, BT5 4FP.
1.1 Accountlng conventlon
The accounts have been prepared in accordance with the charity's Articles of Association. the Companies Act
2006 and "Accounting and Reporting by Charities.- Ststement of Recommended Practice applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland {FRS 102) las amended for accounting periods commencing from 1 January 2016).
The charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting
policies adopted are set out below.
1.2 Golng concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity
has adequat8 resources to continue in operational existence for Ihe foreseeable future. Thus the trustees
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charftable funds
Unrestricted funds are available for usa at the discretion of the trustees in furtherance of their charitable
objectives.
Designated funds comprlse unrestricted funds that have been set aside by the Truslees for particular
purposes.
Restricted funds are funds which are lo be used in accordance wlth specific restrictions imposed by donors of
which have been raised by the Charity for particular purposes. The cost of raising and administering such
funds are charged against the specific fund. The aim and use of restrict8d funds is set out in the rotes to the
financial statements. Restricted funds may only be transferred to general or designated funds On￿ criteria for
restriction have been discharged or no longer apply.
1.4 Incomlng resources
Income is recognised when the charity is legally entitled to it after any performance conditions have been met,
the amounts can be measured reliably, and it is probable that income will be received.
Grants, service agreement, fee income and grants for equipment are recognised in the SOFA in the period
which they are receivable.
Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the
donorlfunder has specified that the income is to be expended in a future period.
Members, subscriptions are taken to income on a received basis.
17-

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accountlng policies
(Continued)
1.5 Resources expended
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefft to a
third party, it is probable that a transfer of economic beneffts will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activty are made up of the total of direct costs and
shared costs, including support costs involved in undertaking each activity Direct costs attributable to a single
activity are allocated directly to that activity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned be￿een those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of tSme spent, and
depreciation charges are allocated on the portion of the asset's use.
Donated servlces and facilltles
In accordance with the Charities SORP (FRS102), the general volunteer time of supporters is not recognised.
Expendlture and Irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligats'on to make a payment to a third party, it
is probable that settlement will be required and the amount of the obligation can be measured reliably.
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and those
costs of an indirect nature necessary to support them. Irr8coverable VAT is charged as a cost against the
activity for which the expenditure was incurred.
Allocatlon of support costs
Support costs are those functions that assist the work of the charity but do not directly undertake charitable
activities. Support Costs include back office costs, finance, personnel, payroll and governance costs which
support the charity's activities. These costs have been allocated be￿een cost or raising funds and
expenditure on charitable activities. The bases on which support costs have been allocated are set out in note
1.6 Tanglble fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of
depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Fixtures and fittings
33Qh straight line
The gain or loss arlsSng on the disposal of an asset is determined as the difference be￿een the sale
proceeds and the carrying value of the asset, and is recognised in the Statement of financial activities.
1.7 Impairment of flxed assets
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such ind￿at70n
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment
loss {if any).
1.8 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid
investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
18-

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcles
(Contlnued)
1.9 Flnanclal Instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instruments Issues. of FRS 102 to all of its financial instrum8nts.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offset. with the net amounts presented in the financial stat8ments, when
there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a
net basis or to realise the asset and settle the liability simultaneously.
Basic financlal assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured
transaction price including transaction costs and are subsequently carried at amortised cost using the
effective interest method unless the arrangement constitutes a financing transaction, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
Basic flnanclal liabilltles
Basic financial liabilities, including creditors and bank loans are initially recognised at transactlon price unless
the arrangement constitutes a financing transaction, where the debt instrument is measured at the present
value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or servlces that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-current liabiliti8s. Trade creditors are recognised initially at
transactlon prlce and subsequently measured at amortised cost using the effective interest method.
Dern¢ognltlon of flnanclal liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.10 Employee beneflts
The cost of any unused holiday entitlement is recognised in the period in which the employee's services are
received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed
to terminate the employment of an employee or to provide termination benefits.
1.11 Retlrement beneflts
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.12 Taxation
The company is a registered charty and the charitable tax exemptions are therefore being claimed to the
extent that income andlor gains are applicable and applied to charitable purposes only. These exemptions will
remain in pla￿ as long as income and expenditure is applied to charitable purposes only.
19-

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Critical accounting estlmates and Judgements
In the application of the charity's accounting policies, the trustees are required to make judgements, estimates
and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The estimates and associated assumptions are based on historical experience and other factors that
are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised where the revision affects ￿lY that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
K•y sources of estlmatlon uncertalnty
Tanglble flxed assets
Tangible assets are depreciated over their useful lives taking into account residual values where appropriate.
The actual lives of the assets are assessed annually and may vary depending on a number of factors. In
reassessing asset lives factors such as maintenance programrnes are taken into account. Residual valL
assessments consider issues such as the remaining live of the asset and the estimated value in use.
Income from donatlons and legacles
Unrestrlcted
funds
2024
Unrestricted
funds
2023
Donations and gifts
104,085
99,185
Donations and glfts
Donations - glfts in kind
Corporate sponsorship
Business membership
Arts membership
Other
16,635
38,800
36,750
11.900
9,820
36,500
37,850
12,000
2,995
104,085
99,165
-20-

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charltable activities
2024
2023
Arts Council Nl
Trusts & Foundations income
Board placement fees
Belfast City Council
Consultancy and Management fees
Thrive (HLF)
Dormant Accounts Fund Nl (NLCF)
other income
338,047
120,545
9,133
753,772
137,034
7,650
30,000
24,810
9,706
101,159
9,621
32,902
125,000
5,831
631,458
1,073,552
Analysis by fund
Unrestricted funds - general
Restricted funds
275,038
356,420
631.458
For the year ended 31 March 2023
Unrestricted funds- general
Restricted funds
254,774
818,778
1,073,552
Other Income
Unrestrfcted
funds
general
2024
Total
2023
Investment income
5,926
2,743
21

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Support costs allocated to actlvities
2024
2023
Basis of allocation
Depreciation
Wages & salaries
Employerfs NIC
Pension costs
Est8blishment
Office expenses
Training & recruitment
Travel & subsistence
Web&lT
Irrecoverable VAT
Governance costs
2,073
26,733
2,434
2,756
8,900
8,541
1,584
2.914
7,711
5,920
24,406
24,330
2,343
2,600
18,174
8,358
2,591
4,879
11,067
10,991
25,627
91,972
110,506
Anatysed between:
Chantable activikn'es
91,972
110,506

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charltsbla activitie5
2024
2023
Staff costs
PR & marketing support
Seminars & training
Award costs
Governan￿ Programmes
Bad debts & provision
Investment programme Costs
Business membership events
Gifts in kind - expenditure
Blueprint salary costs
Blueprint costs
208,587
4,890
9,224
26,998
4,695
400
130,973
6,082
16,635
38,130
61,857
196.262
9,318
8,728
33,510
3,862
160,782
6,689
9,820
36,055
492,855
508,471
955,881
Share of 8UPPOrt costs (see note 6)
Share of governance costs (see note 6)
87,566
24,406
84,879
25,627
600,443
1,068,387
Analysls by fund
Unrestricted funds - general
Restricted funds
369,483
230,960
600,443
For the year ended 31 March 2023
Unrestricted funds - general
Restricted funds
346,609
719,778
1,066,387
Trustees
None of the trustees (or 8ny persons connected with them) received any remuneralion or benefits from the
charity during the year12023- £nil).
-23-

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Employees
Number of employees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Charitable activites
Management and administration of the charity
Employm8nt costs
2024
2023
INages and salaries
Social security costs
Other pension costs
234,238
18,748
25,654
218,786
18,867
23,957
278,640
261,590
There were no employees whose annual remuneration was £60,000 or more.
10 Taxation
The charity Is exempt from taxatlon on its activities because 811 its Income is applied for charitable purposes.
11 Tanglble flxed a88ets
Flxtur•• and flttlng•
Cost
At 1 April 2023
Additions
21,042
2,893
At 31 March 2024
23,935
Depreclatlon and Impalrment
At 1 April 2023
Depreciation charged in the year
17,911
2,073
At 31 March 2024
19,984
Carylng amount
At 31 March 2024
3,951
At 31 March 2023
3.128
-24-

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12 Debtors
2024
2023
Amounts falllng due wlthln one year:
Trade debtors
other debtors
Prepayments and accrued income
17,222
2,000
29,266
27,978
70,298
48,488
98,276
13 Credltors: amounts falllng due wlthln one year
2024
2023
Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred Income
17,058
8,189
614
5,212
17.140
33,789
1,848
7,013
31,073
59,788
14 Unrestrfcted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 Aprll
2023
Incomlng
resources
Resources
expended
Transfors At 31 March
2024
Strategic growth fund
General funds
18,183
209,633
10,000
(10,000)
28,183
215,199
385,049
{369,483}
227,816
385,049
(369,483)
243,382
Prevlous year:
At 1 Aprll
2022
Incomlng
resources
Resources
expended
Transfers At 31 March
2023
Research fund
Marketing materials fund
General funds
16,583
1,600
199,558
16,583
1,600
209,631
356,682
(346.609)
217,741
356,682
(346,609)
227,814
-25-

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15 Restricted funds
The restricted funds of the Charty comprise the unexpended balances of donations and grants held on trust
subject to specific conditions by donors as to how they may b8 used.
Movement In funds
Incomlng
Re#ources
Balance at
r8sourcos
gxpended 31 March 2024
Balance at
1 April 2023
Blueprfnt Programme
Esmee Fairbairn Foundation
Paul Hamlyn Foundation
DormantAccounts Fund Nl (NLCF)
Belfast City Council
36,367
72,429
49,833
60,000
41,686
78,855
125,000
(33,925)
(50,520)
(15,541)
44,128
100,764
159,292
60,000
other Funds
ACNI Investment Programme
62,293
110,879
1130,973)
42,199
280,922
356,420
(230,959)
406,382
16 Unrestrfcted funds
These are unrestricted general funds which are material to the charivs activities made up as follows-
17 Analysls of net assets between funds
Unrestrlcted Restrlcted
Income
income
funds
funds
2024
2024
Total Unrestrlcted Restrlcted
income funds income funds
Total
2024
2023
2023
2023
Fund balances at 31
March 2024 are
represented by..
Tangible assets
Current assetsl(liabilities)
3,951
239,430
3,951
645,813
3,128
224,686
3,128
505.610
406,383
280,924
243,381
406,383
649,764
227,814
280,924
508,738
-26-

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Related party transactlons
None of the Trustees receive remuneration or other benefft from their work with the charity. Any connection
betsveen a Trustee or senior manager of the charity with organisations the charity works wrth must be
disdosed to the full Board of Trustees in the same way as any other contractual relationship with a related
party.
R8mun6ratlon of k8y managemant personnel
The remuneration of key management personnel is as follows.
2024
2023
Aggregate compensation
155,432
146,976
Transactlons wlth related partles
During the year the charity entered into transactlons with Mlllar Mccall Wlie. Crescent Arts Centre and
Ulster University. Director Damien Mc Parland is also a director of Millar Mccall Vvylie and Director Sophie
Hayles is a director of Crescent Arts Centre, whilst Director Gillian Armstrong is a Professor at the Ulster
University Business School.
Sale of goods
2024
Purchase of goods
2024
2023
2023
Other related parties
3,100
700
2,410
1,773
3,100
700
2,410
1,773
The following amounts were outstanding at the reporting end date:
Amounts owed to relatsd
partles
2024
2023
Other related partles
1,362
The following amounts were oulstanding at the reporting end date-
Amounts owed by related Amounts owed by related
parties
parties
2024
2023
Balance
Balance
Net
Net
Other related parties
3,000
3,000
500
500
3,000
3,000
500
500
-27-

ARTS & BUSINESS NORTHERN IRELAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
19 Analysis of changes In net funds
The charity had no material debt during the year.
20 Cash generated from operatlons
2024
2023
Surplus for the year
141,026
109,073
Adjustments for:
Depreciation and impairment of tangible fixed assets
2,073
1,545
Movements in working capital:
Decreasel(increase) in debtors
(Decrease) in creditors
49,788
(28,718)
(40,905)
(3,496)
Cash gonarated from oporatlon8
164,169
66,217
-28-