**Company registration number NI603571 (Northern Ireland) Charity registration number NIC102016 (Northern Ireland)** 

## **OUTBURST ARTS FESTIVAL** 

## **ANNUAL REPORT AND FINANCIAL STATEMENTS** 

**FOR THE YEAR ENDED 31 MARCH 2025** 



## **OUTBURST ARTS FESTIVAL** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

## **Directors** 

Ms K McAleese Ms C Campbell Ms F Carolan Mr D Codling Mr E Dara Mr C Snow 

(Appointed 28 January 2026) 

**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 - 26|





## **OUTBURST ARTS FESTIVAL** 

## **DIRECTORS' REPORT** 

## **FOR THE YEAR ENDED 31 MARCH 2025** 

The directors present their annual report and financial statements for the year ended 31 March 2025. 

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, with related activities and development initiatives throughout the year. 

Outburst Arts Festival (Outburst) is a charity organisation and a platform for sharing and exploring intersectional queer experiences, stories and ideas and through stage performance, film, music, literature, workshops, visual art and other creative disciplines. Our aim is to challenge, to entertain, to surprise, to support exciting and relevant discourse, to develop opportunities for artists and raise awareness of queer experiences through the Arts in Northern Ireland. We are particularly interested in making space for new ideas and engaging voices, offering resources and a platform for innovative new work that is not available elsewhere and making space for open and generous creative exchanges. 

The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake. 

## **Achievements and performance** 

2024/25 was a landmark year for Outburst Arts, with advancements in partnership development and ambitious programming, along with significant new investment. The year also brought new challenges around changing team structure and external challenges via socio-political factors impacting across the sector. 

Our programming was bolstered significantly through Belfast City Council’s Belfast 2024 initiative, supporting us to develop a multi-event project, Are You on The Bus?”, in partnership with Kabosh and Papexclips. In addition to a new site-specific commission by Kabosh and a pop-up event with Belfast’s LGBTQ community choir, Quire, the project enabled us to partner with Paperxclips queer bookshop to move their premises from West Belfast to North Street, making it the first visibly queer business in Belfast City Centre. It also supported us in producing an innovative new audio commission, Disco Dykes, by acclaimed screenwriter Stacey Gregg, which reached online audiences across 18 countries. 

In addition to the launch of issue four of our globally distributed new writing periodical, catflap, we also commissioned and published a series of essay pamphlets, Tails of the City, including an Irish language work that was added to the curriculum at Dublin City University. 

Through our international connections and established partnerships, we supported new opportunities for NI artists to tour their work, including The Belfast Ensemble’s participation in Festival de Marseille with The Doppler Effect and emerging artists Colm McCready and Fergus Wachala-Kelly’s Shame Show at Edinburgh Fringe. Our ongoing free online support service for artists, Clinic+, continue to be exceptionally popular, with over 80 artists supported through one-to-one online sessions and follow up support, while our Salon series created intimate space for interactive discussions on queer art and ideas. 

We continued our established festival partnerships with QFT, Queen’s University, Ulster Museum and Sunflower Bar, while our partnership with Ulster University enabled us to co-deliver events by Turner nominated visual artist Phil Collins as part of their Belfast School of Art 175 Celebrations. We also developed new partnerships and events with Fringe Society, Household and Brink! 

- 1 - 



## **OUTBURST ARTS FESTIVAL** 

## **DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** 

## **International Research, Development and Partnership** 

Established British Council connections supported a successful bid to continue our work with Kaalo 101 in Kathmandu, delivering small grants for new work to queer artists there and to offer mentoring and feedback support online for awardees. We were also successful in developing partnership support with British Council Literature, with groundwork to develop events and a literature delegation for our 2025 festival. 

As part of the Goethe Institute London initiated Imagining Futures group, we attended Real Dance festival for a symposium in Hannover, while our partnership with Festival Transform in France led to Outburst-supported touring opportunities for The Doppler Effect and It Was Paradise, Unfortunately. 

We continued our decade-long supportive partnership with British Council Northern Ireland, who along with British Council Europe supported our tenth international delegation to the festival. We also developed a new relationship with Finnish Institute to support Finnish artist involvement in the festival. 

2024 festival saw international artist participation and international delegates from Finland, Egypt, Brazil, Greece, Turkey, Lithuania, USA, Republic of Ireland, Syria, Iran, Germany and Jordan. 

## **Organisational Development and Wider Participation** 

2025 was an important year for the organisation in strengthening our sustainability and building the resilience needed in a precarious and rapidly changing arts funding and investment landscape. 

Due to unsuccessful results in the first half of the year with multi-annual funding bids and anticipated support from private trusts, we discontinued the Executive Director post in September 2024, as from its inception the budget for this role depended on multi-annual funding pursuit which had been unfruitful over two years.  We engaged reserve funds to cover some essential team salary costs not already covered by our established streams, while strategically prioritising new fundraising and income generation approaches. 

Separately, were successful at the end of 2024 in our multi-annual application to Paul Hamlyn Foundation for their Art Fund, securing £250k in primarily core support across three years. This stabilised the core team and supported the organisation to have breathing space to look at a sustainable business strategy moving forward in a challenging climate. 

In addition to increased core funding from Ireland Funds, and from Ulster University for our work with artist Phil Collins, we were successful in a grant of £20k from NI Screen to Executive Produce a new short film with Out of Orbit. 

With team capacity focused on the added community outputs leading up to our landmark Belfast 2024 project in November, we reduced our usually busy participation in external initiatives this year, though team members did participate in industry panels at Queen’s University and at two festivals in France. We also developed events with Rainbow Refugees NI and Thrive. 

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## **OUTBURST ARTS FESTIVAL** 

## **DIRECTORS' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** 

## **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 26.  The charity returned net incoming resources of £7,919 (2024 - £36,235) of which there were net outgoing unrestricted resources of £34,105 (2024 - £19,320 net incoming) and net incoming restricted resources of £42,024 (2024 - £16,915).  At 31 March 2025 the balance of unrestricted reserves were £58,289 (2024 - £92,394) and restricted reserves of £125,450 (2024 - £83,426). 

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 2025/26 with a reduced but strong core team, a finely tuned programming strategy and new approach and energy to our business planning that will place the organisation in a strong position for both the challenges and opportunities ahead. 

## **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 (Resigned 10 April 2025) Ms C McCusker (Resigned 10 April 2025) Ms C Campbell Ms F Carolan Mr D Codling Mr E Dara Mr C Snow (Appointed 28 January 2026) 

## **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 2025** 

## **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: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP 2019 (FRS 102) 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- 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: 5 March 2026 

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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 2025 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: 

- give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- 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. 

- 5 - 



## **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: 

- 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 

- 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: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of trustees' remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- 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. 

- 7 - 



## **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: 

· 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; 

- Results of our enquiries of management about their own identification and assessment of the risks of irregularities; 

· Any matters we identified having obtained and reviewed the charitable company’s documentation of their policies and procedures relating to: 

- Identifying, evaluating and complying with laws and regulations and whether they were aware of any instance of non-compliance; 

- Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and 

- The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; 

· 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 charitable company’s ability to operate or to avoid a material penalty. 

- 8 - 



## **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: 

- 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; 

- Enquiring of management concerning actual and potential litigation and claims; 

- Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; 

- Reading minutes of meetings of those charged with governance and reviewing correspondence with tax authorities; and 

- 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. 

- 9 - 



## **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, Statutory Auditor Chartered Accountants Century House 40 Crescent Business Park Lisburn BT28 2GN 5 March 2026 

- 10 - 



## **OUTBURST ARTS FESTIVAL** 

## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** 

## **FOR THE YEAR ENDED 31 MARCH 2025** 

|**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2025**<br>**2025**<br>**Notes**<br>**£**<br>**£**<br>**Income from:**<br>Donations and legacies<br>**3**<br>20,991<br>412,188<br>Charitable activities<br>**4**<br>18,356<br>-<br>**Total income**<br>39,347<br>412,188<br>**Expenditure on:**<br>Charitable activities<br>**5**<br>77,813<br>365,706<br>Other expenditure<br>**11**<br>-<br>97<br>**Total expenditure**<br>77,813<br>365,803<br>**Net income/(expenditure)**<br>(38,466)<br>46,385<br>Transfers between<br>funds<br>**13**<br>4,361<br>(4,361)<br>**Net movement in**<br>**funds**<br>**8**<br>(34,105)<br>42,024<br>**Reconciliation of funds:**<br>Fund balances at 1 April 2024<br>92,394<br>83,426<br>**Fund balances at 31 March**<br>**2025**<br>58,289<br>125,450|**Total**<br>**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2025**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>433,179<br>23,128<br>345,691<br>18,356<br>18,676<br>-<br>451,535<br>41,804<br>345,691<br>443,519<br>26,185<br>325,075<br>97<br>-<br>-<br>443,616<br>26,185<br>325,075<br>7,919<br>15,619<br>20,616<br>-<br>3,701<br>(3,701)<br>7,919<br>19,320<br>16,915<br>175,820<br>73,074<br>66,511<br>183,739<br>92,394<br>83,426|**Total**<br>**2024**<br>**£**<br>368,819<br>18,676|
|---|---|---|
|||387,495|
|||351,260<br>-|
|||351,260|
|||36,235<br>-|
|||36,235<br>139,585|
|||175,820|



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 2025** 

|**Notes**<br>**Fixed assets**<br>Tangible assets<br>**14**<br>**Current assets**<br>Debtors<br>**15**<br>Cash at bank and in hand<br>**Creditors: amounts falling due within**<br>**one year**<br>**16**<br>Net current assets<br>**Total assets less current liabilities**<br>**Income funds**<br>Restricted funds<br>**18**<br>Unrestricted funds<br>**19**|**2025**<br>**£**<br>15,413<br>200,464<br>215,877<br>(34,765)|**£**<br>2,627<br>181,112<br>183,739<br>125,450<br>58,289<br>183,739|**2024**<br>**£**<br>39,227<br>148,992<br>188,219<br>(15,780)|**£**<br>3,381<br>172,439|
|---|---|---|---|---|
|||||175,820|
|||||83,426<br>92,394|
|||||175,820|



The financial statements were approved by the board of Directors and authorised for issue on 5 March 2026 and are signed on its behalf by: 

|Ms K McAleese|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 2025** 

## **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 2025** 

## **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 2025** 

## **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. 

- 15 - 



## **OUTBURST ARTS FESTIVAL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** 

|**3**<br>**Donations and legacies**<br>**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2025**<br>**2025**<br>**£**<br>**£**<br>Donations and gifts<br>41<br>-<br>Grants receivable for<br>core activities<br>17,950<br>412,188<br>Sponsorship<br>3,000<br>-<br>20,991<br>412,188<br>**Grants receivable for**<br>**core activities**<br>ACNI Annual Funding<br>Programme<br>-<br>50,000<br>Belfast City Council Cultural<br>Multi-Annual<br>-<br>45,000<br>British Council India<br>1,300<br>-<br>British Council NI<br>2,000<br>10,774<br>Ulster University<br>4,000<br>30,000<br>NI Screen<br>-<br>11,250<br>Paul Hamlyn Foundation<br>-<br>100,000<br>Public Health Agency<br>-<br>2,000<br>Film Hub<br>-<br>-<br>Belfast City Council - Belfast<br>2024 and R&D<br>8,200<br>151,800<br>Nebula<br>-<br>-<br>The Ireland Funds<br>-<br>5,000<br>DWF<br>-<br>-<br>British Council France<br>-<br>5,000<br>Goethe Institute<br>-<br>300<br>The Nerve Centre<br>2,450<br>1,064<br>17,950<br>412,188|**Total**<br>Unrestricted<br>Restricted<br>funds<br>funds<br>**2025**<br>2024<br>2024<br>**£**<br>£<br>£<br>41<br>3,128<br>-<br>430,138<br>19,000<br>345,691<br>3,000<br>1,000<br>-<br>433,179<br>23,128<br>345,691<br>50,000<br>-<br>57,500<br>45,000<br>-<br>45,000<br>1,300<br>-<br>-<br>12,774<br>4,000<br>20,500<br>34,000<br>-<br>500<br>11,250<br>-<br>11,250<br>100,000<br>-<br>90,000<br>2,000<br>-<br>2,000<br>-<br>-<br>380<br>160,000<br>-<br>42,000<br>-<br>15,000<br>64,561<br>5,000<br>-<br>10,000<br>-<br>-<br>2,000<br>5,000<br>-<br>-<br>300<br>-<br>-<br>3,514<br>-<br>-<br>430,138<br>19,000<br>345,691|Total<br>2024<br>£<br>3,128<br>364,691<br>1,000|
|---|---|---|
|||368,819|
|||57,500<br>45,000<br>-<br>24,500<br>500<br>11,250<br>90,000<br>2,000<br>380<br>42,000<br>79,561<br>10,000<br>2,000<br>-<br>-<br>-|
|||364,691|



Included in restricted grant receivables is income totalling £194,000 (2024 - £42,000) which relates to one off special commission projects undertaken by the charity in the year. These were the Belfast 2024 Project and Ulster University - Celebrating 175 years of the Belfast School of Art. 

- 16 - 



## **OUTBURST ARTS FESTIVAL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** 

## **4 Income from charitable activities** 

||**Unrestricted**|**Unrestricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Box office sales|12,717|14,030|
|Other income|4,584|3,103|
|Merchandise sales|1,055|1,543|
||18,356|18,676|



## **5 Expenditure on charitable activities** 

||**Charitable**|**Charitable**|
|---|---|---|
||**activities**|**activities**|
||**2025**|**2024**|
||**£**|**£**|
|**Direct costs**|||
|Staff costs|120,249|129,059|
|Depreciation and impairment|657|846|
|Artists|278,924|179,655|
|Festival expenditure|14,376|9,573|
|International development costs|7,421|7,099|
|Marketing and publications|3,135|9,131|
||424,762|335,363|
|**Share of support and governance costs (see note 7)**|||
|Support|10,741|11,319|
|Governance|8,016|4,578|
||443,519|351,260|
|**Analysis by fund**|||
|Unrestricted funds|77,813|26,185|
|Restricted funds|365,706|325,075|
||443,519|351,260|



## **6 Description of charitable activities** 

## 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. 

- 17 - 



## **OUTBURST ARTS FESTIVAL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** 

|**7**<br>**Support costs allocated to activities**<br>Printing and postage<br>Rent<br>Governance and training<br>Bank charges<br>Sundry<br>Governance costs<br>**Analysed between:**<br>Charitable activities<br>**Governance costs comprise:**<br>Audit fees<br>Accountancy<br>Legal and professional<br>**8**<br>**Net movement in funds**<br>The net movement in funds is stated after charging/(crediting):<br>Fees payable for the audit of the charity's financial statements<br>Depreciation of owned tangible fixed assets<br>Loss on disposal of tangible fixed assets|**2025**<br>**£**<br>98<br>8,769<br>1,149<br>112<br>613<br>8,016<br>18,757<br>18,757<br>**2025**<br>**£**<br>3,420<br>1,188<br>3,408<br>8,016<br>**2025**<br>**£**<br>3,420<br>657<br>97|**2024**<br>**£**<br>796<br>8,232<br>446<br>843<br>1,002<br>4,578|
|---|---|---|
|||15,897|
|||15,897|
|||**2024**<br>**£**<br>3,240<br>1,338<br>-|
|||4,578|
|||**2024**<br>**£**<br>3,240<br>845<br>-|



## **9 Directors** 

None of the directors (or any persons connected with them) received any remuneration or benefits from the charity during the year. 

## **10 Employees** 

The average monthly number of employees during the year was: 

|**2025**|**2024**|
|---|---|
|**Number**|**Number**|
|4|4|



- 18 - 



## **OUTBURST ARTS FESTIVAL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** 

## **10 Employees (Continued)** 

|**Employment costs**<br>Wages and salaries<br>Social security costs<br>Other pension costs|**2025**<br>**£**<br>112,235<br>5,466<br>2,548<br>120,249|**2024**<br>**£**<br>119,462<br>6,772<br>2,825|
|---|---|---|
|||129,059|



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 £51,000 (2024 - £50,797). 

## **11 Other expenditure** 

||**Restricted**|**Restricted**|
|---|---|---|
||**funds**|**funds**|
||**2025**|**2024**|
||**£**|**£**|
|Net loss on disposal of tangible fixed assets|97|-|



## **12 Taxation** 

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 

## **13 Transfers** 

Transfers of £4,361 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 2025** 

|**14**<br>**Tangible fixed assets**<br>**Cost**<br>At 1 April 2024<br>Disposals<br>At 31 March 2025<br>**Depreciation and impairment**<br>At 1 April 2024<br>Depreciation charged in the year<br>Eliminated in respect of disposals<br>At 31 March 2025<br>**Carrying amount**<br>At 31 March 2025<br>At 31 March 2024<br>**15**<br>**Debtors**<br>**Amounts falling due within one year:**<br>Prepayments and accrued income<br>**16**<br>**Creditors: amounts falling due within one year**<br>Accruals and deferred income<br>**17**<br>**Retirement benefit schemes**<br>**Defined contribution schemes**<br>Charge to profit or loss in respect of defined contribution schemes|**Fixtures and**<br>**fittings**<br>**£**<br>12,633<br>(190)<br>12,443<br>9,252<br>657<br>(93)<br>9,816<br>2,627<br>3,381<br>**2025**<br>**2024**<br>**£**<br>**£**<br>15,413<br>39,227<br>**2025**<br>**2024**<br>**£**<br>**£**<br>34,765<br>15,780<br>**2025**<br>**2024**<br>**£**<br>**£**<br>2,548<br>2,825|
|---|---|



The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 

- 20 - 



**OUTBURST ARTS FESTIVAL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** 

## **18 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**|**Transfers**|**Balance at**|**Incoming**|**Resources**|**Transfers**|**Balance at**|
||**31 March 2023**|**resources**|**expended**||**1 April 2024**|**resources**|**expended**||**31 March 2025**|
||**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|**£**|
|ACNI Annual Funding Programme|-|57,500|(57,277)|-|223|50,000|(47,728)|-|2,495|
|ACNI Equipment Grant|1,435|-|(287)|-|1,148|-|(230)|-|918|
|ACNI Commisioning Grant|6,000|-|-|-|6,000|-|(6,000)|-|-|
|British Council Americas|73|-|(15)|-|58|-|(12)|-|46|
|British Council Northern Ireland|1,451|20,500|(16,415)|(390)|5,146|10,774|(11,536)|-|4,384|
|Film Hub NI|-|380|(380)|-|-|-|-|-|-|
|Paul Hamlyn Foundation|1,580|90,000|(79,997)|-|11,583|100,000|(10,861)|-|100,722|
|Public Health Agency|-|2,000|(2,000)|-|-|2,000|(2,000)|-|-|
|DWF|-|2,000|(2,000)|-|-|-|-|-|-|
|The Ireland Funds|-|10,000|(10,000)|-|-|5,000|(5,000)|-|-|
|Belfast City Council CMAG|292|45,000|(45,002)|-|290|45,000|(44,995)|-|295|
|British Council Americas Evaluation|9|-|(9)|-|-|-|-|-|-|
|British Council Digital Collaboration|6,388|-|(6,383)|(5)|-|-|-|-|-|
|Ulster University|-|500|(500)|-|-|30,000|(20,000)|-|10,000|
|Goethe Institute|3,060|-|(3,060)|-|-|300|(300)|-|-|
|Belfast City Council - Belfast 2024 and R&D|-|42,000|(943)|(1,149)|39,908|151,800|(189,535)|-|2,173|
|Nebula|-|64,561|(64,344)|(217)|-|-|-|-|-|
|British Council International Collaboration|2,410|-|(2,410)|-|-|-|-|-|-|
|NI Screen|-|11,250|-|-|11,250|11,250|(22,500)|-|-|
|British Council Poland|1,995|-|(1,995)|-|-|-|-|-|-|
|Jerwood Arts|29,138|-|(22,938)|-|6,200|-|(1,137)|(2,741)|2,322|
|Department of Foreign Affairs Reconciliation Fund|7,401|-|(5,461)|(1,940)|-|-|-|-|-|
|Belfast City Council Research|1,620|-|-|-|1,620|-|-|(1,620)|-|
|BC France|-|-|-|-|-|5,000|(2,905)|-|2,095|
|The Nerve Centre|-|-|-|-|-|1,064|(1,064)|-|-|
|Liberty IT|3,659|-|(3,659)|-|-|-|-|-|-|
||66,511|345,691|(325,075)|(3,701)|83,426|412,188|(365,803)|(4,361)|125,450|



- 21 - 



## **OUTBURST ARTS FESTIVAL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## **FOR THE YEAR ENDED 31 MARCH 2025** 

## **18 Restricted funds (Continued)** 

## **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 2025** 

## **18 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’ 

- 23 - 



## **OUTBURST ARTS FESTIVAL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** 

## **FOR THE YEAR ENDED 31 MARCH 2025** 

## **18 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. 

- 24 - 



## **OUTBURST ARTS FESTIVAL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** 

## **19 Unrestricted 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 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|---|---|---|---|---|---|---|
|||**2024**|**resources**|**expended**||**2025**|
|||**£**|**£**|**£**|**£**|**£**|
|General funds||92,394|39,347|(77,813)|4,361|58,289|
|**Previous year:**|**At**|**1 April**|**Incoming**|**Resources**|**Transfers**|**At 31 March**|
|||**2023**|**resources**|**expended**||**2024**|
|||**£**|**£**|**£**|**£**|**£**|
|General funds||73,074|41,804|(26,185)|3,701|92,394|
|**Analysis of net assets between**|**funds**||||||
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2025**|**2025**|**2025**|
|||||**£**|**£**|**£**|
|**At 31 March 2025:**|||||||
|Tangible assets||||537|2,090|2,627|
|Current assets/(liabilities)||||57,752|123,360|181,112|
|||||58,289|125,450|183,739|
|||||**Unrestricted**|**Restricted**|**Total**|
|||||**funds**|**funds**||
|||||**2024**|**2024**|**2024**|
|||||**£**|**£**|**£**|
|**At 31 March 2024:**|||||||
|Tangible assets||||671|2,710|3,381|
|Current assets/(liabilities)||||91,723|80,716|172,439|
|||||92,394|83,426|175,820|



## **20 Analysis of net assets between funds** 

- 25 - 



## **OUTBURST ARTS FESTIVAL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025** 

## **21 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<br>Between two and five years|**2025**<br>**£**<br>2,139<br>6,952<br>9,091|**2024**<br>**£**<br>2,294<br>-|
|---|---|---|
|||2,294|



## **22 Related party transactions** 

There were no disclosable related party transactions during the year (2024 - none). 

- 26 -