Charity registration number NIC102016
Company registration number NI603571 (Northern Ireland)
OUTBURST ARTS FESTIVAL
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
OUTBURST ARTS FESTIVAL
LEGAL AND ADMINISTRATIVE INFORMATION
Directors Ms K McAleese Mr M Eaglesham Ms C McCusker Ms C Campbell Ms F Carolan Mr D Codling Mr E Dara Charity number NIC102016 Company number NI603571 Principal address Third Floor 109-113 Royal Avenue Belfast BT1 1FF Registered office Third Floor 109-113 Royal Avenue Belfast BT1 1FF Auditor GMcG LISBURN Century House 40 Crescent Business Park Lisburn BT28 2GN
Bankers
Co-Operative Bank Delf House Southway Skelmersdale WN8 6WT
Danske Bank P.O. Box 183 Donegall Sq West Belfast BT1 6JS
OUTBURST ARTS FESTIVAL
CONTENTS
| Page | |
|---|---|
| Directors' report | 1 - 4 |
| Independent auditor's report | 5 - 10 |
| Statement of financial activities | 11 |
| Statement of financial position | 12 |
| Notes to the financial statements | 13 - 25 |
OUTBURST ARTS FESTIVAL
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The directors present their annual report and financial statements for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association 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 amended for accounting periods commencing from 1 January 2019)
Objectives and activities
The company is established exclusively for charitable purposes, namely for the production of the annual Outburst Queer Arts Festival in Belfast.
Outburst Arts Festival (Outburst) is a charity organisation and community platform for sharing and exploring queer experiences stories and ideas and through theatre, film, music, writing, workshops, visual art and other creative disciplines. Our aim is to challenge, to entertain, to surprise, to support and develop new talent and raise awareness of queer experiences through the Arts in Northern Ireland. We are particularly interested in bold new ideas and engaging voices, offering a platform for innovative new work that is not available elsewhere.
The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
Achievements and performance
2023/24 brought exciting new opportunities and developments both locally and internationally for Outburst Arts, supporting the organisation to successfully navigate the widespread challenges faced by arts many organisations in the region, especially in relation to income, sustainability and staffing. With a brand-new Strategic Plan (202325) and refreshed aims, significant new international partnerships enabled wider reach for our work, while securing a new part time Producer for the team significantly enhanced and supported the delivery of our creative outputs, operations and artist support.
Our international connections continued to grow and deepen and at home we expanded our non-festival programme to support artist career development. Our Salons at Bullitt Hotel continued to support audience development, while the expansion of the one-to-one Clinic+ service on-demand for artists, with almost 100 halfhour sessions delivered, this continued to ensure that our doors were open to queer artists needing advice, information and feedback.
We delivered a successful all-island four-date tour of Richard O’Leary’s Border Fairies , which was our first full tour of an Outburst-commissioned work. Our artist development partnership with Jerwood Arts, Tongue & Heart , engaged four established and emerging artists to access mentoring, resources and support to make new works for the 2023 festival.
We won a significant tender from Belfast 2024 to partner with Kabosh and Paperxclips Bookshop on an ambitious new project , Are You On the Bus , that would be developed throughout 2024, including two new performance works, a publications series and satellite community engagement events through the year leading up to the festival.
In line with our strategic aim of resourcing of more new work in addition to our development programme works, we supported two new commissions, It Was Paradise, Unfortunat ely by Jordanian playwright Raphaël Amahl Khouri, and The Headless Soldier , an ambitious new opera by Conor Mitchell and Mark Ravenhill.
Further developing our established partnerships with QFT, Queen’s University and Sunflower Bar, we developed a new partnership with Ulster University to deliver an exhibition by acclaimed New York photographer Alice O’Malley. We also reignited our Irish language partnership with Cultúrlann in West Belfast and expanded festival events to the East of the city with events at Portview Trade Centre and to North Belfast of the city with two events at Carlisle Memorial Church.
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OUTBURST ARTS FESTIVAL
DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
International Research, Development and Partnership
With newly developed support from Nebula Fund around narrative change and the arts, we partnered with International Gay and Lesbian Association (ILGA) to deliver Juntes, a global project spotlighting trans/ feminist solidarity and that connected activism with the arts. We co-delivered this two-part project in Brazil and at the festival in Belfast, with over 40 activists and artists from over 30 countries attending across the project. This significantly enhanced our network and profile and opened new possibilities for artist support.
Established British Council connections enabled research and development work in Argentina, Poland and Nepal. Our partnership work with Kaalo 101 in Kathmandu was ongoing through 2023-24, with Outburst in a mentoring and artist support role. British Council Turkey supported Outburst participation at the WOW, Women of the World, festival in Istanbul, with the visit also including queer artist research and a presentation of Outburst commission It Was Paradise, Unfortunately at Pera Museum.
We were successful in winning a significant grant from British Council France to work with Festival Transform! in Marseille as part of the UK/France Spotlight Season across 2024. We further developed our relationship with the Lithuanian Cultural Attaché to the UK/ Lithuanian Cultural Institute, with Lithuanian artists participating in the festival.
The 2024 festival saw artist participation and delegates from Greece, Turkey, Lithuania, Ghana, South Africa, France, USA, Argentina, Republic of Ireland, Germany and Jordan.
Organisational Development and Wider Participation
The most significant element of our organisational development in 2023/24 was the implementation of a new Strategic Plan that had been two years in development with the team and Board. The plan confidently honed our ambitions to centre artist development, audience development and commissioning of new work, building on our international connections while advocating for increased support and recognition for the arts and artists at home.
Welcoming a new Producer, Caleb Roberts, to the team in June 2023 hugely supported the Artistic Director in delivering the development programme and producing of the festival. With the Executive Director role now established, we also had the capacity to participate and engage more in events and opportunities with organisations such as Arts & Business, Thrive and Festivals Forum. In other staffing developments, Mícheál McCann joined us as part time Head of Literature Development for a fixed period of one year.
In addition to established support from statutory funders, Arts Council of Northern Ireland and Belfast City Council, we received new support from Nebula Fund and Belfast 2024, as well as Ireland Funds and NI Screen.
As part of our financial procedures review, the Board elected to move our organisational banking services to Danske Bank, enabling better walk-in business services, dual authorisation on payments for more robust security, and more flexible online banking. The new account was set up in this financial period and, to enable smooth operations, the established account will be phased out by the end of the financial year 2024/25.
It was a busy year for wider participation beyond Outburst’s own work, with participation as a delegate at Arts Council England’s Horizon showcase at the Edinburgh Festivals, artists partnership work in Berlin and at Berlinale and non-festival film introductions at QFT, as well as participation on other panels and in talks.
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OUTBURST ARTS FESTIVAL
DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Financial review
The directors consider that the unrestricted funds of the charity have sufficient resources and assets available which are adequate to fulfil their obligations.
The results for the period are as set out on pages 11 to 25. The charity returned net incoming resources of £36,235 (2023 - net outgoing resources of £86,741) of which there were net incoming unrestricted resources of £19,320 (2023 - net outgoing resources of £446) and net incoming restricted resources of £16,915 (2023 - net outgoing resources of £86,295). At 31 March 2024 the balance of unrestricted reserves were £92,394 (2023 - £73,074) and restricted reserves of £83,426 (2023 - £66,511).
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
The directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
We move forward into 2024/25 in a strong position in terms of support, outputs, governance and profile, while also preparing for the challenges ahead in securing new multiannual core funding that will support and strengthen the sustainability for Outburst in an increasingly turbulent funding climate for arts organisations.
Structure, governance and management
The charity is a company limited by guarantee and a registered charity for tax purposes.
The directors who served during the year and up to the date of signature of the financial statements were: Ms K McAleese
Mr M Eaglesham Ms C McCusker Ms C Campbell Ms F Carolan Mr D Codling Mr E Dara
Key Management Personnel Remuneration
The Board consider the board of directors and the artistic director as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All board members give of their time freely and no board remuneration was paid in the year. Board members are required to disclose all relevant conflict of interests and register them at each monthly board meeting and in accordance with the charity's policy withdraw from decisions where a conflict of interest arises.
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OUTBURST ARTS FESTIVAL
DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
Statement of directors' responsibilities
The directors, who also act as trustees for the charitable activities of Outburst Arts Festival, are responsible for preparing the Directors' 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 directors 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 directors are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP 2019 (FRS 102)
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable 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.
Disclosure of information to auditor
Each of the directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.
The directors' report was approved by the Board of Directors.
Mr D Codling
Director
Dated: 23 October 2024
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OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
Opinion
We have audited the financial statements of Outburst Arts Festival (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the statement of financial position and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including 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:
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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, including its income and expenditure, for the year then ended;
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have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
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have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant 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.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern 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 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 directors with respect to going concern are described in the relevant sections of this report.
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OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
Other information
The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of 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 this gives rise to a material misstatement in the financial statements themselves. 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.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
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the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
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the directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
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 directors' report included within the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
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adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
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the financial statements are not in agreement with the accounting records and returns; or
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certain disclosures of trustees' remuneration specified by law are not made; or
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we have not received all the information and explanations we require for our audit; or
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the directors 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 to prepare a strategic report.
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OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
Responsibilities of directors
As explained more fully in the statement of directors' responsibilities, the directors 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 directors 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 directors 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 directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
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 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 expected to 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 material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
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OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
Extent to which the audit was considered capable of detecting irregularities, including fraud
We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.
In identifying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non-compliances with laws and regulations, we considered the following:
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The nature of the industry and sector, control environment and business performance, including the charitable company’s remuneration policies for directors, bonus levels and performance targets, if any;
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Results of our enquiries of management about their own identification and assessment of the risks of irregularities;
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Any matters we identified having obtained and reviewed the charitable company’s documentation of their policies and procedures relating to:
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Identifying, evaluating and complying with laws and regulations and whether they were aware of any instance of non-compliance;
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Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
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The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
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The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the charitable company for fraud and identified the greatest potential for fraud in income recognition. In common with all audits under ISAs (UK), 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 that the charitable company operates in, 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 the Companies Act 2006, and local tax legislation.
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.
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OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
Audit reponse to risks identified
Our procedures to respond to the risks identified included the following:
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Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
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Enquiring of management concerning actual and potential litigation and claims;
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Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
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Reading minutes of meetings of those charged with governance and reviewing correspondence with tax authorities; and
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In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect noncompliance with all laws and regulations.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
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OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
Use of our report
This report is made solely to the charitable company'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 might state to the charitable company's members those matters we are required to state to them in an auditor's 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 charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.
Mr Stephen Houston FCA (Senior Statutory Auditor) for and on behalf of GMcG LISBURN
23 October 2024
Chartered Accountants Statutory Auditor
Century House 40 Crescent Business Park Lisburn BT28 2GN
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OUTBURST ARTS FESTIVAL
STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
| Unrestricted Restricted funds funds 2024 2024 Notes £ £ Income from: Donations and legacies 3 23,128 345,691 Charitable activities 4 18,676 - Total income 41,804 345,691 Expenditure on: Charitable activities 5 26,185 325,075 Total expenditure 26,185 325,075 Net income/(expenditure) 15,619 20,616 Transfers between funds 11 3,701 (3,701) Net movement in funds 19,320 16,915 Reconciliation of funds: Fund balances at 1 April 2023 73,074 66,511 Fund balances at 31 March 2024 92,394 83,426 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 368,819 15,025 218,945 18,676 10,422 - 387,495 25,447 218,945 351,260 25,893 305,240 351,260 25,893 305,240 36,235 (446) (86,295) - - - 36,235 (446) (86,295) 139,585 73,520 152,806 175,820 73,074 66,511 |
Total 2023 £ 233,970 10,422 244,392 331,133 331,133 (86,741) - (86,741) 226,326 139,585 |
|---|---|---|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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OUTBURST ARTS FESTIVAL
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
| Notes Fixed assets Tangible assets 12 Current assets Debtors 13 Cash at bank and in hand Creditors: amounts falling due within one year 14 Net current assets Total assets less current liabilities Income funds Restricted funds 15 Unrestricted funds |
2024 £ 39,227 148,992 188,219 (15,780) |
£ 3,381 172,439 175,820 83,426 92,394 175,820 |
2023 £ 37,159 122,558 159,717 (24,058) |
£ 3,926 135,659 |
|---|---|---|---|---|
| 139,585 | ||||
| 66,511 73,074 |
||||
| 139,585 |
The financial statements were approved by the board of Directors and authorised for issue on 23 October 2024 and are signed on its behalf by:
| Mr M Eaglesham | Mr D Codling |
|---|---|
| Trustee | Trustee |
| Company registration number NI603571 |
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OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies
Charity information
Outburst Arts Festival is a private company limited by guarantee incorporated in Northern Ireland. The registered office and place of business is Third Floor, 109-113 Royal Avenue, Belfast, BT1 1FF.
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, 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) (effective 1 January 2019)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.
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 Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Incoming 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.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
In-kind support is included when receivable.
Grants that relate to specific capital expenditure are treated as restricted income which is credited to the Statement of Financial Activities when receivable. Revenue grants are credited to the Statement of Financial Activities in accordance with the terms of the letter of offer.
Investment income is included when receivable.
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OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies (Continued)
1.5 Resources expended
Expenditure is recognised on an accruals basis as a liability is incurred.
Charitable expenditure comprises those costs incurred by the charity in the deliver of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them.
Support costs are those functions that assist work of the charity but do not directly undertake charitable activities. Support and other costs have been allocated to charitable activities based on actual usage by that activity.
1.6 Tangible 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 20% Reducing Balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 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.
1.8 Financial 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 instruments.
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 statements, 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 financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at 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.
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OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
1 Accounting policies (Continued)
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction 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 services 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 liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
1.9 Employee benefits
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.
1.10 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
2 Critical accounting estimates and judgements
In the application of the charity’s accounting policies, the directors 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 only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Restricted and unrestricted funds
Judgements are made in relation to allocation of income and expenditure to restricted and unrestricted funds. The directors consider lit appropriate to allocate these funds based on interpretation of donations received.
Support costs
Judgements are made in relation to the allocation of support costs of the charity to its charitable activities. The directors consider it appropriate to allocate these costs based on the allocation of grant funding to the charitable activities in the year.
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OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 3 Donations and legacies Unrestricted Restricted funds funds 2024 2024 £ £ Donations and gifts 3,128 - Grants receivable for core activities 19,000 345,691 Sponsorship 1,000 - 23,128 345,691 Grants receivable for core activities ACNI Annual Funding Programme - 57,500 Belfast City Council Cultural Multi-Annual - 45,000 British Council NI 4,000 20,500 Ulster University - 500 NI Screen - 11,250 Paul Hamlyn Foundation - 90,000 Public Health Agency - 2,000 Film Hub - 380 ACNI Commissioning Grant - - Belfast City Council - Belfast 2024 and R&D - 42,000 Nebula 15,000 64,561 The Ireland Funds - 10,000 DWF - 2,000 QUB Drama - - Jerwood Arts - - Department of Foreign Affairs Reconciliation Fund - - Liberty IT - - Arts & Business Council - - National Museums - - GCN (Gay Community News) - - Belfast City Council Research - - British Council Poland - - 19,000 345,691 |
Total Unrestricted Restricted funds funds 2024 2023 2023 £ £ £ 3,128 1,250 - 364,691 12,775 218,945 1,000 1,000 - 368,819 15,025 218,945 57,500 - 64,000 45,000 - 45,000 24,500 3,000 20,862 500 - - 11,250 - - 90,000 - - 2,000 - 2,000 380 - - - - 6,000 42,000 - - 79,561 - - 10,000 - - 2,000 - - - - 1,000 - 2,000 41,400 - 675 7,424 - - 3,659 - - 5,000 - - 4,800 - - 500 - 7,100 14,800 - - 2,500 365,691 12,775 218,945 |
Total 2023 £ 1,250 231,720 1,000 |
|---|---|---|
| 233,970 | ||
| 64,000 45,000 23,862 - - - 2,000 - 6,000 - - - - 1,000 43,400 8,099 3,659 5,000 4,800 500 21,900 2,500 |
||
| 231,720 |
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OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
4 Income from charitable activities
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2024 | 2023 | |
| £ | £ | |
| Box office sales | 14,030 | 7,726 |
| Other income | 3,103 | 1,720 |
| Merchandise sales | 1,543 | 976 |
| 18,676 | 10,422 |
5 Expenditure on charitable activities
| Staff costs Depreciation and impairment Artists Festival expenditure International development costs Marketing and publications Temporary Staff Fees Share of support and governance costs (see note 7) Support Governance Analysis by fund Unrestricted funds Restricted funds |
2024 £ 129,059 846 179,655 9,573 7,099 9,131 - 335,363 11,319 4,578 351,260 26,185 325,075 351,260 |
2023 £ 127,430 999 159,390 12,254 3,488 9,144 5,400 |
|---|---|---|
| 318,105 8,888 4,140 |
||
| 331,133 | ||
| 25,893 305,240 |
||
| 331,133 |
6 Description of charitable activities
The production of the annual Outburst Queer Arts Festival in Belfast to advance the education of the public, and in particular Lesbian, Gay, Bisexual and Transgender people, in the arts, through theatre, visual arts, music, film, dance, writing, performance, workshops, and debate and the cultivation of public appreciation of those arts in Northern Ireland.
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OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
7 Support costs
| Support costs Governance costs £ £ Printing and postage 796 - Rent 8,232 - Governance and training 446 - Bank charges 843 - Sundry 1,002 - Audit fees - 3,240 Accountancy - 1,338 11,319 4,578 Analysed between Charitable activities 11,319 4,578 |
2024 Support costs Governance costs £ £ £ 796 752 - 8,232 6,299 - 446 1,369 - 843 143 - 1,002 325 - 3,240 - 2,820 1,338 - 1,320 15,897 8,888 4,140 15,897 8,888 4,140 |
2023 Basis of allocation £ 752 Useage 6,299 Useage 1,369 Useage 143 Useage 325 Useage 2,820 Governance 1,320 Governance 13,028 13,028 |
|---|---|---|
Governance costs includes payments to the auditors of £3,240 (2023- £2,820) for audit fees.
- 18 -
OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
8 Directors
None of the directors (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9 Employees
The average monthly number of employees during the year was:
| Employment costs Wages and salaries Social security costs Other pension costs |
2024 Number 4 2024 £ 119,462 6,772 2,825 129,059 |
2023 Number 4 |
|---|---|---|
| 2023 £ 118,076 6,855 2,499 |
||
| 127,430 |
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
The charity considers its key management personnel to comprise the Artistic Director. The total emoluments paid to key management personnel was £50,797 (2023 - £53,275).
10 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
11 Transfers
Transfers of £3,089 from restricted funds to unrestricted funds in the year relate to organisational time spent by the charity.
- 19 -
OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
| 12 Tangible fixed assets Cost At 1 April 2023 Additions At 31 March 2024 Depreciation and impairment At 1 April 2023 Depreciation charged in the year At 31 March 2024 Carrying amount At 31 March 2024 At 31 March 2023 13 Debtors Amounts falling due within one year: Prepayments and accrued income 14 Creditors: amounts falling due within one year Accruals and deferred income |
Fixtures and fittings £ 12,333 300 12,633 8,407 845 9,252 3,381 3,926 2024 2023 £ £ 39,227 37,159 2024 2023 £ £ 15,780 24,058 |
Fixtures and fittings £ 12,333 300 12,633 8,407 845 9,252 3,381 3,926 2024 2023 £ £ 39,227 37,159 2024 2023 £ £ 15,780 24,058 |
|---|---|---|
| 12,633 | ||
| 8,407 845 |
||
| 9,252 | ||
| 3,381 | ||
| 3,926 | ||
| 2023 £ 37,159 |
||
| 2023 £ 24,058 |
- 20 -
OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
15 Restricted funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
| Movement in funds | Movement in funds | Movement in funds | Movement in funds | |||||
|---|---|---|---|---|---|---|---|---|
| Balance at | Incoming | Resources | Balance at | Incoming | Resources | Transfers | Balance at | |
| 31 March 2022 | resources | expended | 1 April 2023 | resources | expended | 31 March 2024 | ||
| £ | £ | £ | £ | £ | £ | £ | £ | |
| ACNI Annual Funding Programme | - | 64,000 | (64,000) | - | 57,500 | (57,277) | - | 223 |
| ACNI Equipment Grant | 1,794 | - | (359) | 1,435 | - | (287) | - | 1,148 |
| ACNI Commisioning Grant | - | 6,000 | - | 6,000 | - | - | - | 6,000 |
| British Council Americas | 91 | - | (18) | 73 | - | (15) | - | 58 |
| British Council Northern Ireland | 4,616 | 20,862 | (24,027) | 1,451 | 20,500 | (16,415) | (390) | 5,146 |
| Film Hub NI | - | - | - | - | 380 | (380) | - | - |
| Paul Hamlyn Foundation | 75,036 | - | (73,456) | 1,580 | 90,000 | (79,997) | - | 11,583 |
| Public Health Agency | - | 2,000 | (2,000) | - | 2,000 | (2,000) | - | - |
| DWF | - | - | - | - | 2,000 | (2,000) | - | - |
| The Ireland Funds | - | - | - | - | 10,000 | (10,000) | - | - |
| Belfast City Council CMAG | 268 | 45,000 | (44,976) | 292 | 45,000 | (45,002) | - | 290 |
| British Council Americas Evaluation | 3,017 | - | (3,008) | 9 | - | (9) | - | - |
| British Council Digital Collaboration | 11,303 | - | (4,915) | 6,388 | - | (6,383) | (5) | - |
| Ulster University | - | - | - | - | 500 | (500) | - | - |
| Goethe Institute | 3,771 | - | (711) | 3,060 | - | (3,060) | - | - |
| Belfast City Council - Belfast 2024 and R&D | - | - | - | - | 42,000 | (943) | (1,149) | 39,908 |
| Nebula | - | - | - | - | 64,561 | (64,344) | (217) | - |
| British Council International Collaboration | 52,910 | - | (50,500) | 2,410 | - | (2,410) | - | - |
| NI Screen | - | - | - | - | 11,250 | - | - | 11,250 |
| QUB Drama | - | 1,000 | (1,000) | - | - | - | - | - |
| British Council Poland | - | 2,500 | (505) | 1,995 | - | (1,995) | - | - |
| Jerwood Arts | - | 41,400 | (12,262) | 29,138 | - | (22,938) | - | 6,200 |
| Department of Foreign Affairs Reconciliation Fund | - | 7,424 | (23) | 7,401 | - | (5,461) | (1,940) | - |
| Belfast City Council Research | - | 14,800 | (13,180) | 1,620 | - | - | - | 1,620 |
| National Museums | - | 4,800 | (4,800) | - | - | - | - | - |
| Arts & Business Council | - | 5,000 | (5,000) | - | - | - | - | - |
| GCN (Gay Community News) | - | 500 | (500) | - | - | - | - | - |
| Liberty IT | - | 3,659 | - | 3,659 | - | (3,659) | - | - |
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OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
15 Restricted funds (Continued)
152,806 218,945 (305,240) 66,511 345,691 (325,075) (3,701) 83,426
Arts Council Northern Ireland (ACNI) Annual Funding Programme (AFP)
To develop, produce and deliver the annual Outburst Queer Arts Festival and Queer Arts Development Programme
Arts Council Northern Ireland (ACNI) Equipment Grant
To purchase essential operational and tech equipment for ongoing use for the Organisation.
ACNI Commissioning Grant
To produce "The New Lesbian Songbook" project.
British Council Americas
To work on peer research, networking and training support in the Americas; to build international partnerships with artists and producers in the Americas; to support emerging queer artists and producers in the Americas.
British Council NI
To provide support for the organisation to host delegates for an international symposium for Outburst Queer Arts Festival; to provide support for NI artist development in an international context.
Film Hub NI Cinema Day
To deliver a programme for Queens University Film Hub Cinema Day.
Paul Hamlyn Foundation
To support Artistic Director’s development through growth of the organisation’s programming and operational capacity.
Public Health Agency
To produce events which promotes Public Health messages around gender and sexuality as part of the Outburst Queer Arts Festival.
DWF
To provide support to produce issue 3 of ‘Catflap’, Outburst’s Annual Literary publication.
The Ireland Funds
To provide support for Core Staff Costs.
- 22 -
OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
15 Restricted funds (Continued)
Belfast City Council CMAG
Multi Annual Funding (2 years) to provide support towards organisational Core Costs and programming in relation to the annual Outburst Queer Arts Festival.
British Council Americas Evaluation
To develop and deliver a creative evaluation of the Outburst Americas project to date.
British Council Digital Collaboration
To provide support for the Translating Queer/Kuir project, working with existing partners in Brazil and Argentina on internet based research around international co production that will continue into 2021/2022.
Ulster University
To provide support for Alice O’Malley Event at Festival 2023
Goethe Institute
To provide support for German and German based artists to participate in Outburst Queer Arts Festival and wider Outburst Arts programmes.
Belfast City Council - Belfast 2024
To provide support for the delivery of ‘Are you on the Bus?’ in partnership with Kabosh Theatre Company, as part of the wider council funder programme running over the course of 2024.
Nebula
To provide support for delivery of ‘Juntes’ project in Brazil & Belfast, in collaboration with The International Lesbian, Gay, Bisexual, Trans, and Intersex Association & The Centre for Feminist Foreign Policy.
British Council International Collaboration
To support the implementation of activities under the British Council's International Collaboration Grants Project.
NI Screen
To provide Support for the production of a short film entitled ‘Purebred’
QUB Drama
Support towards producing Sarah Schulman event at Outburst Arts Festival 2022.
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OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15 Restricted funds (Continued)
British Council Poland
To support travel related costs for scoping visits to Poland
Jerwood Arts
Grant to deliver a year round sector-leading multi-disciplinary artist development programme for early and mid career artists.
Department of Foreign Affairs Reconciliation Fund
Funding to bring 'Border Fairies' on tour throughout the island of Ireland.
Belfast City Council LGBT Research
Funding to deliver a research project in partnership with LGBTQIA community organisations.
National Museums
Funding to support 2022 festival related activity in the Ulster Museum.
Arts & Business Council
Impact Investment funding to recognise the relationship between Outburst Arts and Bullitt Hotel.
GCN (Gay Community News)
Funding to support 'Eldering' event at festival.
Liberty IT
Funding to support the delivery of a series of Podcasts.
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OUTBURST ARTS FESTIVAL
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024
16 Analysis of net assets between funds
| Unrestricted Restricted funds funds 2024 2024 £ £ At 31 March 2024: Tangible assets 671 2,710 Current assets/(liabilities) 91,723 80,716 92,394 83,426 Unrestricted Restricted funds funds 2023 2023 £ £ At 31 March 2023: Tangible assets 838 3,088 Current assets/(liabilities) 72,236 63,423 73,074 66,511 |
Total 2024 £ 3,381 172,439 |
|---|---|
| 175,820 | |
| Total 2023 £ 3,926 135,659 |
|
| 139,585 |
17 Operating lease commitments
Lessee
At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:
| Within one year Between two and five years |
2024 £ 2,294 - 2,294 |
2023 £ 3,058 2,294 |
|---|---|---|
| 5,352 |
18 Related party transactions
There were no disclosable related party transactions during the year (2023 - none).
- 25 -