Charlty registratlon number NIC102561
Company reglstration number N1051394 (Northem Ireland)
THRIVE AUDIENCE DEVELOPMENT
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

THRIVE AUDIENCE DEVELOPMENT
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
MsNMMMajury
Mr J P McElrone
Ms F N Mellor
DrVEPeet
Ms L Rea Currie
Ms N R Toman
Mr M Walker
Ms MF Henry
Ms E McAleer
Mr C Mcmullan
Ms C O'connor
Ms J Wright
(Appointed 23 May 2023)
(Appointed 1 May 2024)
(Appointed 1 May 2024)
(Appointed 1 May 2024)
(Appointed 1 May 2024)
Secretsry
Ms F Bell
Charlty number
NIC102561
Company number
N1051394
Registered office
Cres￿nt Arts Centre
24 University Road
Belfast
Co Antrim
Northern Ireland
BT7 1NH
Auditor
Harbin60n Mulholland
Centrepoint
24 Omieau Avenue
Belfast
Co. Antrim
Northern Ireland
BT2 8HS
Sallcltors
Edwards & Co Soliotors
28 Hill Street
Belfast
BT12LA

THRIVE AUDIENCE DEVELOPMENT
CONTENTS
Page
Trustées, report
Indèpendenl auditorfs report
Statement of financial adivitie8
15
Statement of financial position
16
Statement of cash flows
17
Note8 to the financial statements
18-27

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The TnJstees are pleased to present their annual Directors, report together with the consolidated financial
statements of the charity for the year ending 31 March 2024, which are also prepared to meet the requirements for
a Directors, report and accounts for Companies Act 2006 purposes.
The financial stgtements comply with the Ch8rllle5 Act (Nl) 2008, the Companies Act 2006, the Memorandum and
Articles ofAssociation, and Accounting and Reporting by Charities= Statement of Recommended Practice applicable
in the UK and Republic of Ireland IFRS 102) (effective 1 Jan 2015).
Objectlvel and actlvlties
Chalrfs report
Thls year has been one of change for thrive. We have welcomed new team member5 and Seen new faces join our
group ofTrustees.
As we said goodbye to our Chalr of the past 3 years, Rory Clifford as well as Rachel Fitzpatrick and Connor
Mcveigh, we look time to welcome 4 new Board members. And those joining thrive get to build on the strong and
stable organisation that Rory, Rachel and Connor leave behind. Their commitrnent and expertise has played no
small part in that and should be recognised in this report.
But although this year was one of changing faces, there was a sense of stability and progress. Year 2 of the current
strategic plan saw the organisation review and refocus our goals. The creation of the IMPACT research programme
feels like a significant moment for thrive. It captures such a broad range of audlence dala that it will be a significant
resource both for the sector and the individual organisations that take part.
Thrive know Northem Irish audiences, and how they differ from those in GB and Ireland. To finally have data to
evidence this is a milestone and will do much to close the data gap which exists.
The next steps for thrive will be to increase engagement with the data and help the sector to make changes based
on the results. That is the bedrock of any audience development plan. Wlhout it, those development p18ns work off
assumptions about who audiences are and what they value which makes it difficult for them to succeed.
It feels like a rnoment of opportunity, and the Board Bnd I look ftjrward to supporting the team In their bid to respond
to the changing world around us.
Dr Verity Peet
Chalr
Date:
111r2

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Purpose and outcomes
Thrive's purpose is to better tell the story of cultural engagement in Northem Ireland. We know that art and culture
deliver a better society filled with more confident, curiou% and creative individuals. But often, that is not the story
that is told, and the value of art and creativity is called into question.
Thrive bvorks to build the evidence base that supports the impad we see when we work with organis8tions and to
help communicate that importance to thi8 place.
Wthin our Memorandum and Articles of Association we state our object as..
the adv8n¢em8nt of the arts. cullure and h8nl8ge in Northem Irg18nd (hereinafter c811ed the '8r88 of benefit,)
-thout distsnction of age, g8nd8r sexual orientation, disability/ability, race, political. ￿ligIouS or other
opinion, by associating the st8tutory authorilies, voluntary organisations and th8 inhabitants in a Gommon
effort."
8) to promot8, maintain, 8nhance and devel¢W th8 relationships belween arts org8nlsations and Iheir
audiences, current orpotential, within the area of benefit,.
b) to introduce members ol the publlc to 8 wide variety of the 8rts, and to encourage and foster their cultural
Interest both as partlClP8nts and audiences,"
c) to promote, assist and encour8g8 the aw8reness of the b8neficial value of the arts generally in all its fofft?s
by such me8ns as sh811 from time to time b8 considered expedient and appropriate by the directors.
And from this object flows our organisational purpose and outcomes.
Our objectives are the stepping stones to d81ivering our purpose and prioritise the area5 that we need to focus on to
develop our impact.
Our Objectlves
We will increase the amount and scop8 of research into cultural engagement in Northern Ireland
2. We will grow engagement with our work
3. We will be better equipped lo deliver our goals
Our Outcomes
The thang6 that will be delivered by thrive through those objectlves is expressed through outcomes..
More people in Northern Ireland will understand the value of cultural engagement
More organisations will understand the reality of cultural engagement
Thrive is a more sustainable organisation
The first two outcome5 focus heavily on research and data, and this was a considered shift for thrive that came
through analysis of our previous strategy by both staff and Board.
There are a variety of barriers to audience development in Northern Ireland but for many the first hurdle to
overcome is the lack of consistent and reliable ￿Search. If we want arts organisations to build long lasting
relationships with audiences. it is crucial to give them insight into who engages, and how. It is equally important to
hange the na￿ative Ihat has emerged from Ihat data vacuum which suggests that arts and culture is the purvey of
the few, not the many.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees worked with the Chief Executive to develop 8 new strategic plan that stretches acTOSS three years.
This TrLTrStees' Report reflects year 2 of ihat plan.
The Trustees have complied with their duty lo have due regard to the Charity Commission Nl's public benefit
guidance when exércising any powers or duties to which the guidance is relevant
Main actlvitiè•
Each year, thrive will outline the activities it will undertakè to advance and deliver its goa5s in each str8teglc priority,
and some of that activity will be highlighted below. This is by no means an exhaustive list, as each year brings a
multitude of projects thal respond to individual and colleGtive sectoral need.
e will
the amount an
eofr
earch into
ural en
ement
Audience led thinking means that art is created In respon8e to the needs and wants of people. 11 is vi181 therefore
that artlst5 and organi5ation8 have accurate research that tells the real story of how and why people engage with
art.
In the past 12 months, thrive created and delivered numerous research projects which provide data into changlng
audience attitudes and behaviour8.
IMPACT Research Ilmpact of People Attendlng Culture Today)
This year saw thrive launch 8 significant research prograrnme, delivered with the sertor to provide robust and
relevant data on audiences in Northern Ireland
Thrive has spent ￿entY years doing research with and for hundreds of arts organisations, both large and small, to
better tell the story of cultural engagement in Northem Ireland. Research into Northern Ireland audiences is part of
our DNA.
Over the years, we've encountered and dellvered a18rge amount of research on the impact of cultural participation
(induding alleviating loneliness, promoting positive 8ging and inclusion), however, very little research had been
done on the impact of arts attendance.
This is why we created our IMPACT survey, a post-vSsit audience survey to evidence the impact of attendance at
arts organisations and spaces across Northern Ireland. It 16 the first of its kind in Northern Ireland. Such data from
and about Nl audiences did not exist before this survey.
The research will help to evidence..
The impact of arts attendance on Nl audiences
How different demographics engage with arts and culture
Their behaviours and motivalions
How the cost of living has affected their spend around arts attendance
35 arts organisations across Northern Ireland have been taking part in the IMPACT survey. Over 2,900 survey
responses have been collected from September 2023 to Nfj8rGh 2024.
What did we find?
Audiences looked slightly different compared to the Nl population. IMPACT audience5 were older. with
over half being over the age of 50. Approximately tsvo-third5 of respondents were women, and roughly a quarter
had children under 16 living with them.
Audiences were less likely to be disabled compared to the population. We did however seeing a higher percent
of audiences who are gay, lesbian, or bisexual. Compared to the Nl median of £30k, a largo proportion of
IMPACT audiences {39%) have lower or significantly lower earnings.
Compared lo the Nl median of £30k, a large proportlon of IMPACT audiences {39U/.I have lower or
significantly lower earnlngs.
94Yo of audiences felt a positive èmotion after attending and artslculture event, with the vast majority (740/0)
Saying Ihey fell happy.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Research for Dublin City Council
Thrive partnered with Turley Strategic Communications on this research project which sel out to better understand
the perception of the Arts in Dublin North Central.
Thrive's role was to run focus groups and guided conversations with local residents to understand the impact of
those per￿ptIOnS and attitudes on actual engagement and behaviours.
Focus groups were held in 4 different locations across North Central Dublin.
The topics covered were
The perception of the arts and the role it plays in people's lives
General arts engagement pattern- where they engage, who with and how often
Motivations for, and barriers, to arts engagement
The research again provided evidence of the importance of arts and culture to people from a wide range of
backgrounds and interests.
"Tha arts has tho power to change people and change Ilves."
"rhe joy of seelng people who think they have nothlng to offer and seelng them changed by tha experience
of going out In fmnt of an audience."
"People thlnk it's a hobby, but It's moro than that. It's everything to me. It's an extenslon of my personality."
"It's about trying to connect. Mth cinema, l enjoy going alone but with livo muslc you're connecting with
the crowd and the atmosphere that is thore. Connection is a big thing for me."
Bolfast Clty Councll Research
In 2024, Belfast City Council are delivering Belfa8t 2024 - an ambitious cultural celebration for Ihe clty. It will
present 8 wide programme of crealive local projects, evenls and city initiatives
Before the programme was laun¢hed, the Gulture leam In Belfast Clty Council wanted to know more about the
audien￿$ who might engage with the programme. We worked with the team to carry out research with people
living in Belfast to learn more about their relationship with arts and cultur8, their percèpiions of Belfast as a creative
place and the role of arts in boosting civic pride.
But as with all thrive research, we wanted to come at it from a different angle and hear some different voices. So,
we spoke to people who come into contact with visitors to the city to see how this impacts on local's perceptions of
the place. We chatted to taxi drivers and hotel staff to see whal they think of the cultural offer in Belfasl and what
they recommend as well as what they hear from both locals and visitors to the place.
We found..
Arts and culture were perceived by most as an essential part of life and a way to connect individuals to the
community. They saw art as a mean to express their feelings, create connections, and communicate with
others.
Tourists often still view Belfast as a potentially dangerous destination but are usually ple85antly surprised by
how triendly and welcoming locals are, and by the variety of cultural activities available in the city.
Belfast is perceived by locals as a creative city, especially since the Good Friday Agreement. Focus groups
participants noted the posilive impact of arts and cullure on attracting tourists and providing quality of Sife for
locals. They talked with pride of local arts venues, recent shows or arts events Ihey attended. from sm811 rnusic
venues to larger theatres and museums. and festivals in between.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
North West Audienco Survey
Our long term collaboration with Derry City and Strabane District Council and Donegal County Council continued
this year as we moved into the $8cond year of collecting consistent audience data across the 2 areas.
With our partners we had created a short 12 queslion survey io help us to track and better understand engagement
with arts and heritage audiences. The data would help to answer questions both at sectoral and individual level,
and aimed to solve the data collection problem that exists all across the island.
The survey was hosted on thrive's SuNeymonk8y and participating organisations collected data through their own
online survey link via their mailing list and on soci81 media. Some organisalions used paper surveys and others
printed QR codes on flyers and posters. Each organisation was provided with their own live reporting link so they
could view their data in real time.
39 organisations across Donegal County Council and Derry Cily and Strabane District Council have been taking
part in the North West Audience Survey. Over 4,400 survey responses have been collected from April 2022 to
March 2024.
What have we leamed..
Audiences taking the North West suNey differed Slightly from the general population in the North West-
respondents were more likely to be betsveen the ages of 35-64 and less likely to be disabled. Le5S than half
had children in their household.
The majority of audlences in the North West attended with someone else, including 8 spouselpartner,
friends, or children of all ages. Just 14Q/4 Vlslted 8 North West organisation on their own.
Audiences in the North West had a largely posrtive experience, with 770/0 rating their ovèrall experiance
very good.
970/0 would recommend these kincls of eventslvenues to their family or friends.
More than ￿in-la agree on the importance of the sector, and that the eventlvenue made thern feel
welcome and better for cominglioining in.
2. W wlll
Following a review of Year 1 of the strategic plan, we merged 2 of our priorities to focus on growlng engagement,
rather than simply 8udiences.
Ihihile we always want lo reach new audiences and markets, we also want to make th8 most of th8 r8search and
resources available to support the sector. In this year therefore, we spent time analysing our own audiences and
customers and then using Ihis informalion to develop our ¢)wn audience engagement plan,
The engagement plans sets out actions against 3 headings: sector, strategic md bu8iness development wlth clear
targets and re6uIts.
Wlder audlence
This year, we published our research from last year, Northem Ireland in 100 Stories. Our most significant research
projed to date was an investigation into the role of arts and culture at play in people's lives in Northern Ireland and
we wanted lo out it in front of as wide an audienc8 as possible.
We distributed over 350 copies to politicians, councillors, funders and policy makers to draw attention to the value of
creativity and cullure to society, and to their local area.
ow
ment
rwo
New Collaborations
Thrive is a member of the European Data Alliance and attended several events with partners from UK, Norway,
Germany, Belgium and Denmark during the year.
The Alliance focuses on both data literacy and collection with partners sharing leaming about pilots and
programmes in their own jurisdiction.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
3. We wlll be better e
edlo
ellver our
oals
This strategic objective focuses on 2 main areas.- our people and our processes.
Peopl•
We want a happy. confident staff team and have crealed and developed policies and procedures that will produce
that result and reflect thrive's values.
These indude..
Employee Development policy which focuses on not only professional, but personal development.
Performance Management - staff are sel clear objectives with largels which flow from company KPI'S and
have quarterly check ins to review progress. discuss appropriate support and development needs.
Recruilmenl - we make sure that we find the besl people for the role and the company 8nd that each job is
accessible and equilable
Pay policy - making sure that remuneration is fair and transparént and allows scope for development and
progression
Breast feeding and Menopause policies-to make sura we look 8fter the team at different lrfe stages
Proce88e$
In order to deliver maximum impact for the sedor we support, thrive has to work efficiently and effectively. We have
created a strong project management framework that allows all staff to know their workloads and roles within
projects. Comrnunication 18 imperative here and team meetings are focused and action orientated.
Our project fflanagemenl system involves..
Project brief
Action logs
Content creation and communications plan
Company oveTview of activity
Project debriefs
We also make sure that all of our management documents speak to each other eg strategic plans, risk register,
Board reporting and staff performance management. All of this activity 18 evidenced through our KPI fiamework and
reviewed regulady by both Board and staff team.
A hievem
and erfomi
nce
Thrive uses a series oftarget8 and key performance indlcalors (KPIS) to monitor and measure Its achievements and
Performance. These relate directly to the outcomes we seek lo effed. A selection of Ihose delivered in 2023-2024
are detalled below.
Comrnunic•tlon8
24,278 page views for resources and audience insights content
1,266 total downlogds of resources and audience insights
627 Newsletter subscribers
8,627 followers on social plarforms
37 new resources added to the website
Over 357 hours of support given free of charge to the arts sector
Over 300 hours spent on Research and Development to bring best practice learning to Northem Ireland
Worked with 92 organisations from all across Northern Ireland.
What our cllents say...
"It was great to see people in person and get a frank conversation."
'Thrive were fantastic in helping u5 establish a clear 'why' and 'how' for our projecl, identifying what the projecvs
USP was in relats'on to audience development. and outlining our next steps. that one-on-one time wa5 invaluable for
us..

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
'The support Thrive have given us on this is huge. Our capacity to get any meaningful feedback from our audiences
has been really limited, and this now gives us a realty strong stsrting pointi"
Governance
Thrive has developed a strong governance framework which it continues lo evolve and develop.
2023-24 saw the departure of 3 Board members Rachel Fitzpatrick, Conor Mcveigh and Rory Clifford (ch8ir) at Ihe
end of their tenure. 4 new Board members were appointed, following a skills audit and open recruitment process.
Following interviews with applicants, 4 Trustees were appointed, and a comprehensive induction took place. Conran
Mcmullan, Emma McAleer, Joanne Wright and Claire O'connor {co-opted) were appointed in March.
Mark Walker was appolnt8d as acting Chair of the Finance and Risk Subcommittee in line wilh thrive Memorandum
and Artides (acting on behalf of Naomi M8Jury who is on matemity leave, and Margar8t Henry Joined the committee.
Nuala Toman was appointed as Chair of Ihe Nominations and Remunerations Subcommittee In line with thrive
Mernorandum and Articles. Nuala replaces Rachel Fitzpatrick.
Verity Peet was appointed as the new Chair of thrive following an open recruitment process and in line wlth thrive
Memorandum and Articles. Verity replaced Rory Clifford who had come to the end of his lenur8.
Reporting to the Board continues to work well. with a focus on organisational KPIS that align to thrive's strategic
priorities and evidences the impact of the work.
Flnanclal revlew
Thrive's end of year position shows a surplus of £30,496. Financial stability remains a challenge for thrive as the
organisalion an(J the sector it serves. face an unknown and changed environment. While ACNI continues to support
thrive as our main funder. an increase in that award is unlikely as budgels all across government are squeezed.
Thrive's expansion into new markets and in collaboration with partners. have helped to combat Increasing costs in
an uncertain market. Further work will be done to increase customer retention and open new markets in line with
our Strategic goals.
Re8•rve8 policy and golng concern
There is a reseNes policy in place. Thrive has identified £245,554 {2023'. £215,058) as unrestricted reserves In the
202&24 annual accounts.
All reserves are within the operational reseNes fund, the purpose of which are sel oul below bul include the
potential for a structured winding-up of the company should the need arise.
Operatlonal reserves arè required to allow the organisation to continue to deliver its charitable objectives and seek
altemative funding sources should existing annual funding be restricted and to provide assurance against the risk of
an unforeseen emergency or other unexpeded need for funds. In addition, operational reserves provide the
organisation with the ability to react to short-temi opportunities. In quantifying the level of operational reseNes
required, the level of net current assets is compared to the average monthly expendilure. The risks associated with
fijture income, grant5 and expenditure are also considered.
Thrive's reserves policy states that 6 months of the annual recurring expenditure is required as operational
reserves. Presently the reserve amount is below that threshold as reserves have been used to meet planned
deficits during the change process.
In addition, strategic reserves are required for planned commitments that cannot be met by future annual funding
alone. The Trustees would wish thrive lo have a strategic reserve to enable it to maintain and develop the ability to
provide data and insight lo arts, cultural and heritage organisations.
The Board has highlighted the relurn to a break-even position and the ability to restore reserves to the required level
within the new strategic priorities. The Finance and Risk Committee will continue to support the wider Board in
monitoring financial controls and performance. including opportunitie5 to increase efficiencies and reduce costs.
Operational and slrategic reserve requirements and risks will continue to be reviewed by Ihe Board in 202425.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
ststement of Investhient Princlples
The Trustees have adopted a statement of investment principles (SIP), which sets out the princSples governing
decisions about investment of the assets of Ihrive. The Trustees of thrive issue this statement lo cornply with the
regulations set out in the memorandum and articles of association of the organisation.
In order to meet the requirements of the SIP, thrive will invest in 3 separate portfolios..
Two fixed-term investment funds
One account with instant access and competitive rates
The SIP will be revlewed annually and without delay after any slgnificant change of investrnent policy.
Structur•, govern•nc• and management
In Novefflber 2017, the Board revised and updated the memorandum and articles of association. This revislon
aligned the memorandum and articles with our new Purpose and incorporaled the name change. Any relevant
changes in company law or charity law were also implemented. Thls work was undertaken by Edwards & Co.,
thrive's legal adviser6.
The new company name, Thrive Audience Development, was registered at Companies House under Company
Number N1051394 and with the Charity Commission Nl under the existing reference NIC 102561 which wa8
assigned on 5 May 2015.
The Trustees who served during the year and up to the date of signature of the financial statements were..
Mr R Clifford
(Resigned 1 May 2024)
Ms R L Fitzpatrick
(Resigned 1 May 2024)
MsNMMM8jury
Mr J P McElrone
Mr C D J Mcveigh
Ms F N Mellor
DrVEPeet
Ms L Rea Currie
Ms N R Toman
Mr M Walker
Ms MF Henry
Ms E McAleer
Mr C Mcmullan
Ms C O'connor
Ms J ￿ight
(Resigned 31 March 2024)
{Appoinled 23 May 2023)
(Appointed 1 May 2024)
(Appointed 1 May 20241
(Appointed 1 May 2024)
(Appointed 1 May 2024)

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Recruitment and appolntment of Dlrectors
Thrive's process on the recruitment and appointment of directors is underpinned by the memorandum and articles.
Board recruitment is infomed by a regular discussion and the Board evaluation process to identify what skills need
to be recruited to the Board. The Nominations and Remuneration committee tskes the prO￿sS fO￿ard through an
open recruitment process. Each director is asked to serve a term of 3 years and may be appointed for a further 3
years following a review of contribution meeting and a vote by the Boarcl. After seTving a further 3-year period. the
Board mefflber must step d¢)wn.
Dlrector inductlon and trainlng
All potential Board members have the opportunity to obseTV8 al least 1 Board meeting before committing to jolning
the Board. An induction plan is put in place for all new Board members and this was revised in 2022. The induction
offers clear information on the trustee and company dlreclor roles, induding clarity on Ihe key legal and statutory
responsibilities of those roles. Inltial induction includes the opportunily to meel the team, the Chair and Ihe CEO.
Board training is overseen by the Nominations and Remuneration committee. A record of all training is kept and any
material is shared with the Board.
Risk management
The Board has conducted a review of Ihe major risks to whlch the charity is exposed. Risks are reviewed by the
Finance & Risk committee at each meeting, with updates provided to the Board at each meeting. The risk register Is
reviewed by the full Board and senior management team once a year, along with thrive's risk policy.
Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Intemal
control risks are fninimised by the irnplementation of procedures for authorisation of all transactions and projects.
All trustee5 recognise there is a requirement to raise any new risks and significant changes as and when they
become apparent,
Organlsational structuro
Thrive's memorandum and articles stipulates that the number of trustees shall be not le56 than six nor more than
eleven, excluding co-opted trustees.
The Board met 7 times in 2023-24 to discuss and direct the strategic direction and policy of the charity.
In 202>24 the Flnance & Risk committee met 6 times to look at the financial reporting and risk for the organisation.
The Nominations and Remuneration committee met 2 tlmes to look at the creation of the organisalion's pay policy
and recruitment process for new Trustees.
Trustees also contributed to the delivery of key governance projects such as taking part in Board recruitment panels
and carying out staff exit inletwiews. Furthermore. Trustees have used their individual skills in a voluntary capacily
to assist and support thrive. contributing many free hours to the developrnent of the charity.
Day-to-day responsibility for the provision of services rests with the Chief Executive Officer. The Chief Executive
Officer is responsible for ensuring that the charity delivers the ServI￿S specified and that key perfomiance
indicators are met.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Statement of Trustees. responsibilities
The TTUStees, who are also the director5 of Thrive Audience Development for the purpose of company law, are
responsible for preparing the Tiustees, Report and the financial statements in accordance with applicable law and
regulation.
Company law requires the Trustees to prepare financial statements for each financial year. Under that law the
TTUStees have prepared the financial statements in accordance with United Kingdom Accounting Standards,
comprising FRS 102 'The Financial Reporting Stsndard applicable in the UK and Republic of Ireland" and
applicable law (United Kingdom Generally Accepted Accounting Practice). Under company law the Trustees must
not approve the financial statements unless they are satisfied that they gtve a tfue and fair view of the stale of the
affairs of the and of the incoming resources and application of resources, induding the income and expendilure, of
the company for that period. In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and then apply them consistently-,
obSe￿e the methods and principles in the Statement of Recommended Practice.. Accounting and Reporting
by Charities (2015).,
make judgments and eslimales that are reasonable and prudent., and
prepare the financial statements on th8 going concern basis unless it is inappropriate to presume that the
will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explaln the
company's transactions and disclose with reasonable accuracy at any time the financial position of the compeny
and enable them to ensure that the company comply wilh the Cornpanie5 Act 2006. They are also responsible for
safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of
fraud and olher irregularities.
In certain circumstances dients may choose to include an additional staternent here which is required to be made
within the directors, report as 8 result of Section 418 of the Companies Act 2006.
In accordance with Section 418, directors, reports shall indude a statement, in the c888 of each director in office at
the date the directors, report is approved, Ihat..
(al $0 far as the Trust88 is aware, there is no relevant audit infomiation of which the company's auditors are
unaware., and
{b) they have taken all the steps that they ought to have taken as 8 Trustee in Order to make themselves aware of
any relevant audit infomiation and to establish that the company's auditors are aware of that information.
Audltor
In accordance with the company's articles, a resolution proposing that Harbinson Mulholland be reappointed as
auditor of the company will be put at a General Meeting.
The Trustees, report was approved by the Board of Trustees.
DrVE Peet
Trustee
10-

THRIVE AUDIENCE DEVELOPMENT
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THRIVE AUDIENCE DEVELOPMENT
Oplnlon
We have audited the financial stalernents of Thrive Audience Development (the 'charity') for the year ended 31
Marth 2024 which comprise the statement of financial activities. the statement of financial position, the statement of
cash flows 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 Slandard 102 The FinanGial Reporting Standard applicable in the UK and R8public of
Imland (United Kingdom Generally Accepled 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 2023 and of its
incoming resources and application of resources, for the year then ended.,
have been properly prepa￿d in accordan￿ 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 wrth International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of
the An8ncial statements section of our report. We are independent of the chartty 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, Bnd we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is SLfficient and appropriate to provlde a basis for our oplnlon.
Conclusions relatlng to golng concern
In auditing the financial statement5. we have concluded that the Trustees, 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 al least ￿e1ve months from when the financial statements are authorised for issue.
Our responsibilities and the responslbllilles of the Trustees with respect to golng concern are described In the
relevant sections ofthls ￿pOrt.
Other Informatlon
The other information comprises the information included in the annu81 report other than the financial statements
and our auditorfs report thereon. The Trustees are responsible for the other information contained within the annual
report. Our opinion on the financial statements does not cover the other information and 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 fin8ncial statements or our knowledge obtained in the course of the audit, or
otheNise 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 finanaal
staternents themselves. If, based on the work we have performed, we conclude that there is a material
misststement of this other information, we are required to report that fact.
We have nothing to report in this regard.
11

THRIVE AUDIENCE DEVELOPMENT
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THRIVE AUDIENCE DEVELOPMENT
Matters on which we are required to report by exception
We have nothing to report in respect of the following matter5 in relation to which the Charities (Accounts and
Reports) Regulations 2008 require us to report to you if. in our opinlon..
the information given in the financial stslements is inconsislent in any material respect with the Trustees,
report., or
sufficient accounting records have not been kept.. or
the financial statements are not in agreement with the accounting records., or
we have not received all the information and explanations we require for our audit.
Re8ponslbilities of Trustees
As explained more fully in the statement of Trustees, responsibilities, the Trustees, who are also the directors of the
charity for the purpose of company law, are responsible for the preparation of the financial statements and for being
satisfied that they give a true and fair view, and for such intemal control as the Trustees determine is necessary to
enable the preparation of financial statements that are free from material misstatemenl, whether due to fraud or
error.
In preparing the financial statements, the Trustees are responsible lor assessing th8 charity's ability to continue as
going concern, disclDsing. as applicable, matters related to going concem and using the going concern basis of
accounting unles5 the Trustees either intend to liquidate the charitable company or to cease operation8, or have no
realistic alternative but to do so.
Audito¢8 re8ponslbllitie8 for the audit of the financial ststement8
We have been appointed as auditor under section 144 of the Charities Act 2008 and report in accordance with the
Act Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material misstatement, whether due lo fraud or error, and to issue an 8uditorfs report that includes our opinion.
Reasonable assurance is a high level of assurance bul is not 8 guarantee that an audit conducted in accordance
with ISAS (UK) will atways detect a material misstalemenl 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.
A further description of our responsibilit188 is available on the Financlal Reporting Council's webslte at.. https.'Il
www.frc.org.uklauditorsresponslbililies. This descrlption form8 part of our auditorfs report.
12-

THRIVE AUDIENCE DEVELOPMENT
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THRIVE AUDIENCE DEVELOPMENT
Our approach to identifying and assessing the risks of material misstatement in respect of irregularilies, including
fraud and nonwcompliance with laws and regulations, was as follows..
the engagement partner ensured that the engagement tearn collectively had the appropriate competence,
capabilities and skills to identify or recognise non-compliance with applicable laws and regulations.,
we identified the laws and regulations applicable to the company through discussions with directors andlor
senior management, and from our commercial knowledge and experience of the sector.,
We focused on specific laws and regulations which we considered may have a direct material efFect on Ihe financial
ststements or the operations of the company, including Companies Act 2006, taxation legislation, data protection,
anti-bribery, employment, environmental and health and safety legislats'on..
we assessed the extent of compliance with the laws and regulations identified above through making
enquiries of management and inspecting legal correspondence., and
identified laws and regulations were communicated wlthin the audit team regularly and the team rem8in8d
alert to instances of non-Gompliance throughout the audil.
We as$88sed the Suscèptibilily of the company's financlal statements lo material misstatement, Including obtalnlng
an understanding of how fraud might occur, by..
making enquiries of management as to where they considered there was susceptibilily to fraud, their
knowledge of actual, suspected and alleged fraud,. and
considering th8 internal control8 in place to mits'gate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through management bias and ove￿Ide of controls, we..
performed analytical procedures to identify any unusual or unexpected relationship8',
tested journal entries to identify unusual transaclions.,
assessed whether judgements and assumptions made in detemiining the accounting estimates set out In
Note 2 were indicative of potential bias; and
investigated the rational8 behind significant or unusual tran88ctions.
In r8sponse to the risk of irregularities and non-compliance with laws and regulation5, we d88igned procedures
which included, but were not limited to..
agreeing financial staternenl disclosures to underlying supporting documentation.,
reading the minutes of meetings of those charged with governance-,
enquiring of management as to actual and potential litigation and claims., and
reviewing correspondence with HMRC and the company's legal advisors.
There 8re inherent limitations in our audit procedures described above. The more removed that laws and
regulations are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limit the audit procedures required to idents'fy non-compliance with laws and regulations lo
enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Material misstatements thal arise due to fraud can be harder to detect than those that ar15e from error as they may
involve deliberate concealment or collusion.
13-

THRIVE AUDIENCE DEVELOPMENT
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THRIVE AUDIENCE DEVELOPMENT
This report is made solely to the company's members, as a body, in accordance with section 391 of the Companies
Act 2006. Our audit work has been undertaken so that we might stale to the company's members those matters we
are required to state lo Ihem in an auditols 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 company and the company's members as a
body, for our audit work, for this report, or for the opinions we have fomied.
Anqola Cralgan (Senlor Ststutory Auditor>
for Ind on b•half ol Hwbinson Mulhollfvnd
IS11 Ir2024
Chartered Accountants
ststut¢xy Audltor
Centrepolnl
24 Om*au Aven
Belfasl
Co. Antrlm
hlorthem Ireknnd
BT2 8HS
14-

THRIVE AUDIENCE DEVELOPMENT
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestrlcted Restricted
funds
funds
2024
2024
Totsl Unrestricted Restrictsd
funds
funds
2023
2023
Total
2024
2023
Notsg
Income from:
Donations and legacies
Charitsble activities
Investrnents
95
81,575
4,706
95
327,521
4,7C
39
48,272
1,062
39
315,770
1,062
265,946
267,498
Total Income
66,376
265,946
332,322
49,373
267,498
316,871
Expendltur• on:
Charitable activities
35,880
265,946
301,826
49,983
267,498
317,481
Total •xp•ndlture
35,880
265,946
301,826
49,983
267,498
317,481
Net Incomel(expendlturel and
movement in funds
30,496
30,496
(610)
(610)
Roconcillatlon of funds:
Fund balances al 1 April 2023
215,058
215,058
215,668
215,668
Fund balances at 31 March
2024
245,554
245,554
215,058
215,058
The statement of financial activlties includes all gains and losses recognised in the year. All income and expendltur8
deriv8 from continuing activities.
15-

THRIVE AUDIENCE DEVELOPMENT
STATEMENT OF FINANCIAL POSITION
ASAT31 MARCH 2024
2024
2023
Fixed assets
Tangible assets
12
931
1,212
Current assets
Debtors
Cash at bank and in hand
13
79,637
210,836
86,266
170,896
290,473
257,162
Creditors". amounts falling due wlthln
one year
14
(45,850)
(43,316)
Not curr•nt a88et8
244,623
213,846
Totsl assets l••• current li•bllltles
245,554
215,058
Not 0s88ts excludlng pension114blllty
245,554
215,058
Tha funds of tha charlty
Unrestricted fund8
245,554
215.058
245,554
215,058
The company is entitled to the exemplion from the audit requirement contained in section 477 of the Companies Act
2006, for the year ended 31 March 2024, although an audit has been carried out under section 65 of the Charities
Act (Nl) 2008 .
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financi81 statements under the requirements
ofthe Companies Act 2006, for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject
to the small companies regime.
23
The financial statements were approved by the Trustees on ..............
DrVE Peet
Trustee
Cornpany registration number N1051394 (Northern Ireland)
16-

THRIVE AUDIENCE DEVELOPMENT
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2024
2024
2023
Notes
Cash flows from operating actlvitie•
Cash generated frornllabsorbed by)
operations
22
36,668
(32.239)
Investing activitlas
Purchase of tangible fixed assets
Investment incorne ra￿1Ved
(1,435)
4,706
(771)
1,062
Net cash ganaratsd from invostlng
aetlvltles
3,271
291
Net ca•h used In financlng actlvltles
Net Incro4••1{decroa8el in ca•h and ca8h
equiv4l•nt8
39,939
(31,948)
Cash and cash equivalents at beginning of year
170,895
205,168
Cash and cash equlvalents at end of year
210,836
170,895
17-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollcieB
Charity Informatlon
Thrive Audience Developrnent is a private company limited by guarantee incorporated in Northern Ireland. The
charity is registered with the Charity Cornmission for Northern Ireland. the registered office is Crescent Arts
Centre, 24 University Road, Belfast, BT7 1 NH.
1.1 Accountlng convention
The financia5 statements have been prepared in accordance with the charity's governing document, the
Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of
reland. ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable to Gharilies preparing their accounls in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2019). The
charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in slerling, which is the functional currency of the charlty. Monetary
amounts in Ihese financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. modified to include Ihe
revaluation of freehold propertles and to include investment properties and certain financial instruments at falr
value. The principal accounting policies adopted are set out below.
1.2 Golng concern
At the time of approving the financial statemer)Is, the Trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees
continue to adopt the going concern basis of accounting in preparing th8 financial statements.
1.3 Charltable funds
Unrestrided funds are available for use at the discretion of the Trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how th&y may be used. The
purposes and uses of the restricted funds are sel out in the notes to the financial ststements.
1.4 Income
Income is recognised when the charrty 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.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution,
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a
contingent asset.
18-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting pollci08
Icontinuedl
1.5 Expendituro
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefrt to a
third party, it is probable that a transfer of economic beneffts will be required in settlement, and the amount of
the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and
shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single
activity are allocated directly to that 8divity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activity are apportioned between those activities on a basis
consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and
depreciation charges are allocated on the portion of the asset's use.
1.6 Tangible flxed assets
Tangible fixed assets are initially measured at Cost and subsequently measured at cost or valuation, net of
depreciation and any impairmenl losses,
Depreciation is récognised so as to write off the cost or valuation of assets less their residual values over their
useful lives on the following bases..
Computer Equipment
Fixtures and fittings
33Vo per annurn straight line
1 OVO per annum straight line
The gain or loss arising on the disposal of an asset is determined as the difference be￿een the sale proceeds
and the carrying value of the asset, and is recognised in the statement of financial activities.
1.7 Impalrnient of flxed assets
At each reporting end date, the charity reviews the carrying amounts of Its tangible assets to determine
whether there is any indication that those assets have SUffe￿d an Impairment loss. If any such indication
exists, the recoverable amount of the asset Is estimated in order to deternlne the extent of Ihe impairment
loss (if any).
1.8 Cash and ca8h •qulvalents
Cash and cash equivalenls include cash in hand, deposits held at call with banks, other short-term Ilquld
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
1.9 Flnancial Instruments
The charity has elected to apply the provisions of Sedion 11 'Basic Financial Instruments, and Section 12
'other Financial Instruments Issues, of FRS 102 ta all of its financial instruments.
Financial instruments are recognised in the charty's balance sheet when the charity becomes party to the
contractual provisions of the instrument.
Financial assets and liabilities are offsel, 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 lo realise the asset and settle the liability simultaneously.
Basic financial asset5
Basic financial assets, which include debtor5 and cash and bank balances, are initially rneasured at
transaction price including transaction costs and are subsequenily carried at amortised cost using the effective
interest method unless the arrangement constitutes a financing transactian, where the transaction is
measured at the present value of the future receipts discounted at a market rate of interest. Financial assets
classified 8$ receivable wilhin one year are not amortised.
19-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policles
(Contlnued)
Basic flnancial Ilablllties
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 dassified as payable
within one year are not amortised.
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 creditor5 are recognised initially at
transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognltion of flnancial liabilities
Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.10 Employee ben•flts
The cost of any unused holiday 8nlillement Is racognised in the period in which the employee's 8ervlc88 are
re¢elved.
Termination benefits are recognised immediately as an expense when the charity 1$ demonstrably cornmitted
to temiinate the ernployment of an employee or to provide termination benefits.
1.11 Retirement beneflts
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Critical accountlng e8timate8 and Judgements
In the application of the Gherily's accountlng policies, the Trustee8 are required to make judgemenls,
estimates and assumptions about Ihe 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. Adual results may differ from these estimates.
The estimates and underlylng assumptions are reviewed on an ongolng basis. Revisions to a¢¢ounting
estimates are recognised in the period in which the estimate is revised where the revision affect5 only that
period, or in the period of the revision and future periods where the revision affects both current and future
periods.
Income frorn donatlons and legacies
Unrestrlcted
funds
2024
Unr8strictsd
funds
2023
Donations and gifts
95
39
-20-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable actlvltles
2024
2023
Other earned income
Grants
61,575
265,946
48,272
267,498
327,521
315,770
Analysi8 by fund
Unrestricted funds
Restricted funds
61,575
265,946
48,272
267,498
327,521
315,770
Arts Council Northern Ireland IACNI)
National Lottery Heritage Fund (NLHF)
Department for Communities
Belfast City Council
170,476
54,170
21,300
20,000
166,172
65,090
16,236
20,000
265,946
267,498
Thrive Audience Development acted as agent for one programme for Nalional Lottery Heritage Fund, whereby
they received funds and distributed such funds on behalf ofArts & Business Nl of £Nil12023.' £9,706).
Income from Inv•stments
Unrestrlctsd Unrestrlcted
funds
funds
2024
2023
Interest receivable
4.706
1,062
21

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable actlvities
Charitable Charitablo
activltles
activitles
2024
2023
Staff costs
Depreciation and impairment
Charitablé expenditure
212,701
1,715
65,016
212,257
1,631
81,177
279,432
295,065
Share of support costs (see note n
Share of governance costs (see note n
19,644
2.750
19,940
2,476
301,826
317,481
Analysls by fund
Unrestricted funds
Restricted funds
35,880
265,946
49,983
267.498
301,826
317,481
Support Costs
Support Governance
costg
¢08ts
2024
Support Gov•rnance
costs
costs
2023
Admln costs
HMRC VAT I￿eCoVerable
Rent
7,010
4,234
8,400
7,010
4,234
8,400
5,098
6,443
8,400
5,098
6,443
8,400
Audit fees
2,750
2,750
2,476
2,476
19,644
2,750
22,394
19,941
2,476
22,417
Analysed be￿een
Charitable activities
19,644
2,750
22,394
19,940
2,476
22,416
Govemance cosls includes payments to the auditors of £2,750 (2023.. £2,450) for audit fees.
2024
Net movement In funds
2023
The net movement in fund5 IS stated after chargingl(crediting):
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
2,750
1,715
2,475
1,630
-22-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Trustee•
None of the TTUStees (or any persons ¢onn8Cted with them) received any remuneration or benefits from the
charity during the year (2023-. Nill.
10 Ernployees
The average monthly number of employees during the year was..
2024
Number
2023
Number
Ernploym•nt Costs
2024
2023
W8ges and salaries
Social security costs
other pension costs
192,644
11,484
8,573
188,971
15,247
8,039
212,701
212,257
The total amount of employee benefits received by key management personnel was £60,87212023.' £59,356).
The charity considers its key management personnel to be 811 persons who direct and control the activities of
the charily.
The number of employees whose annual remuneration was more than £60,000
Is as follows:
2024
Number
2023
Number
£60,001 to £70,000
11 Taxatlon
The charity is exempt from tax on income and gains falling within section 505 of the Taxe5 Act 1988 or seclion
252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitsble objects.
-23-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
12 Tangible flxed assets
Computfrr Flxtures and
Equlpment
flttin96
Total
Cost
Al 1 April 2023
Additions
14,886
1,435
3,958
18,844
1,435
At 31 March 2024
16,321
3,958
20,279
Depreciatlon and impaimient
At 1 April 2023
Depreciation charged in the year
14,405
1,629
3,228
86
17,633
1,715
At 31 March 2024
18,034
3,314
19,348
Carrylng amount
At 31 Marth 2024
287
644
931
At 31 March 2023
482
730
1,212
13 Debtors
2024
2023
Amounts falllng due wlthin one year:
Trade debtors
other debtors
Prepayments and accrued Income
20,183
54,591
4,863
6,009
76,526
3,731
79,637
86,266
14 Creditors: amount9 falling due wlthln one year
2024
2023
Noteg
Other taxation and social security
Deferred income
Trade creditors
Other creditors
Accruals
9,783
6,587
10,396
2,714
16,370
7,635
8,882
9,059
1,518
16,222
16
45,850
43,316
-24-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15 Deferred income
2024
2023
Other deferred income
8,587
8,882
Deferred income comprises of income invoiced in advance of project delivery milestones.
Deferred income is included ir) the financial statements as follows-.
2024
2023
Deferred income is included wlthln..
Current liabilities
6,587
8,882
16 Retlrement benoflt scheme•
2024
2023
Defined contrlbution schames
Charge to profit or loss in respect of defined contribution schemes
8,573
8,039
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.
17 R•Btrlcted fund$
The restricted funds of the charity comprise the unexpended balances of don8tions and grants held on trust
subject to specific conditions by donors as to how they may be used.
Movement in funds
Incomlng
Resourc•s
Bal•n¢• at
rniourGe•
oxpend•d 31 March 2024
Balanco at
l Aprfl 2023
Arts Council Northern Ireland (ACNI)
National Lottery Heritage Fund (NLHF)
Department for Communities
Belfast City Council
170,476
54,170
21,300
20,000
(170.476)
154,1701
(21 ,300)
(20,000)
265,948
{265,946)
Restricted funds are funds received for specified purposes within the overall aims of the charity.
25-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
18 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balan￿$ of donations and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These indude
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At 1 Aprll
2023
Incomlng
resources
Re8ource8 At 31 March
expended
2024
General funds
215,058
86,376
(35,880)
245,554
Prevlous year:
At l Aprll
2022
Incomlng
resources
Resources At 31 March
expended
2023
General funds
215,668
49,373
{49,983>
215,058
19 Analy818 of net a880ts betwe•n funds
Unrestricted Re8tricted
funds
funds
2024
2024
Total Unrestrlcted R￿trIcted
fund8
fund8
2023
2023
Total
2024
2023
Fund balances at 31
March 2024 are
rèpresented by=
Tangible assets
Current a88et$llliabilitieB)
931
244,623
931
244,623
1,212
213,844
1,212
213,845
245,554
245,554
215,056
215,057
20 Related party transaction•
During the year £7.50Q was paid to Director Lisa Currie for delivery of a research project as part of the
Re.'model programme.
There were no other related party transactions during the year (2023.. £Nil).
21 Analysi8 of changes in nèt funds
The tharity had no material debt during the year.
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THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
22 Cash generated from oparations
2024
2023
Surplusl(deficit) for the year
30,496
(610)
Adjustments for=
Investment income recognised in statement of finanaal activities
Depreciation and impaiment of tangible fixed assets
(4,7C6)
1,715
(1,062)
1,631
Movements in working capital..
Decreasel(increase) in debtors
Increase in creditors
(Decréasellincrease in deferred income
6,629
4,829
(2,2951
(10,619)
5,264
3,262
Cash generated froml(absorb•d by) operations
36,668
(2,134)
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