Charity registratlon numbèr NIC102561 (Northem Iréland)
Company ragistration number N1051394
THRIVE AUDIENCE DEVELOPMENT
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025

THRIVE AUDIENCE DEVELOPMENT
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
MsNMMMajury
Mr J P McElrone
Ms F N Mellor
DrVEP8et
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 1 May 2024)
(Appointed 1 May 2024)
(Appointed 1 May 2024)
(Appointed 1 May 2024)
Secretary
Ms F Bell
Charlty numb•r
NIC102561
Company number
N1051394
Regi8tèrod office
Crescent Arts Centre
24 Universty Road
Belfast
Co Antrim
Northern Ireland
BT7 1NH
Audltor
HM Chartered Accountants
6th Floor East Tower
Lanyon P18za
8 Lanyon Plac8
Belfast
Co. Antrim
BT13LP
Sollcitor•
Edwards & Co Solldiors
28 Hill Street
Belfast
BT12LA

THRIVE AUDIENCE DEVELOPMENT
CONTENTS
Page
Trustees, report
Independent audllofs report
Statement of financlal aciivitie8
15
statament of financial p08ition
16
statement of c88h flow8
17
Notes to the financial 8talements
18-27

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees are pleased to present their annual Directors, report together with the consolidated finanual
statements of the charity for the year ending 31 March 2025, which are also prepared to meet the requirements for
a DireGtors' report and acwunts for Companies Act 2006 purposes.
The financial statements comply with the ChaTities Act (Nl) 2008, the Companies Act 2006, the Memorandum and
Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable
in the UK and Republic of Ireland (FRS 102) (effedive 1 Jan 2015).
Objectives and actlvltles
Chairfs report
It is a privilege to introduce thrive's Trustee Report for 2024-2025 and report that it continues to makè good
progress in its objectives to support the arts and heritage sector in Northern Ireland through the provision of high
quality research and analysis.
The key focus for thrive thmughout this year has been in the ¢ontinuin9 delivery and growlh of its IMPACT
programme of research and analysis. This work, evidencing the value of the arts through its impact on audiences, 18
crltical in the current climate of perpetual cuts or 'standstill' public funding. It has been heartening to witness the
growing recognition throughout the sector of Ihe value of thrive's IMPACT work undertaken to date and we are
delighted to have received further approbation and practical support from the Arts Council of Northem Ireland to
enable u8 to continue thls programme for a fiJrther two years.
2024-2025 was the final year of a thretryear strategic plan. Given the SUc￿$S of IMPACT in delivering thrive's
objectives, as well as the wider sector SUPPOrt for IMPACT, we have extended the current strategic plan from three
to five years to faulitate alignment be￿een thrive's primary programme of work and the ongoing strategic plan.
I commend CEO Fiona Bell and the thrive team for their continued diligence, extend my gratitude to my fellow
directors and look forward to another year of working with thrive to support the arts and heritage seclor.
Dr Verity Peet
Ch41r
Date:
22110125

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
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, curious 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 works to build the evidence base that supports the impact we see when we work with organisations and to
help communicate that importance to this place.
thin our Mernorandum and Artides of Association we state our objeci as..
the adv8ncement of the 8rts, cutture and heritage in Northem I￿19nd (herein8fter called the "8r8a of benefil,)
without distinction of age, g8nder sexual orientation, disabilily/ability, race, political, religious or other
opinion, by associating the statutory authorities. voluntary organisations and the inhabitants in 8 common
effort,.
a) to promo18, m8int8in, enhance 8nd develop the relalionships b81ween arts org8nisations and their
8udienGes, cuff8nt or potential, within the are8 of benefit,.
b) to intmduce members of the public to a wide vartety of the arts, 8nd to encour8g8 and fostgr their cullural
interest both as p8rticipantS and audiences,.
c) to promote, assist 8nd encourage the awareness of the beneficial v81ue ol the arts generally in all rf8 fonns
by such means as shall from fvme to time bg considered expedient and appropri8fe by the directors.
And from this object flows our organisational Purpose and outcomes.
Our objectives are the stepping stones to delivering our PUTpose and pdoritise the areas that we need to focus on to
develop our impact.
Our Objactlves
1. We wlll Increase the amount and scope of research into cultural engagement in Northern Ireland
2. We will grow engagement with ourwork
3. W8 will be belter equipped to deliver our goals
Our Oirt¢ome8
The change that will be delivered by thrive through those objectives is expressed through outcomes:
Mofe 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 oryanisation
The first outcomes focus heavily on research and data, and this was e considered shift for thrive that came
through analysis of our previous strategy by both slaff and Board.
Increasingly a role has opened for us in ihe space between policy and practice. We create research that delivers at
both levels- il provides evidence Ihat highlights the reality of cultural engagement which must be the backbone of
policy devdopment bul also gives individual organisations practical infomiation that can grow their audiences and
their income potential.
The Trustees worked with the Chief Executive to develop a new strategic plan that maps out our ambltions in the
next three years and our annual business plan sets out the action5 we need to take to move us closer. This
Trustees, Report reflects our activity in this second year of the Gu￿ent strategic plan.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees have complied with their duty to have due regard to the Charity Comrnission Nl's public benefit
guidan￿ when exercising any powers or duties to which the guidance is relevant
Maln activiti
Each year, thrive will outline the activities it will undertake to advance and deliver its goals in each strategic priority,
and some of that activity will be highlighted below. This is by no means an exhaustive list, as eath year brings a
multitude of projects that respond to individual and collective sectoral need.
1. We will
row the amount and sco
e of research Into cultural en
ement
There are many stories that are told about art and who engages in it. But stories are subjective. It is crucial that the
sector knows the facts about how and why people engage with 8rt.
This is the reason that we created our IMPACT research programme. IMPACT (Impact of People Attending Culture
Today).
Northem Ireland deserves to have Ils own informatlon on Ihe people who attend the arts. Because the people here
aren'l like anywhere else. Our post-visit survey has let us see for the fir81 lime who audiences are, how they
behave, bvhy they attend and how they feel after attending.
In 2024-25 we heard from 2,805 audlence members, brlnging our total data Set to almost 6,000 people since
September 2023. A huge varl8ty of arts organisatlons helped us coll8d the dats from acr086 the country and from a
variety of arttorms.
What dld we find?
A hungry audlence that span8 all age groups and backgroundB. Most people attend art5 and culture a lot-
younger, older, regardless of having children at horne, disability, or wh8t they earn.
Arts and culture aren't Just for the privileged. Arts and culture are attracting audiences from across all levels
of deprivation and earnings.
The economic Impact of art8 and culture. In additlon to purchasing tickets, IMPACT audiences spent
£91,644 on additional items. This includes foodldrinks in and outslde the venue, money spent In th8 local area,
and money spent on paid accommodation.
Disabled audlences face a wido range of barriers. Despite high levels of engagement in general, audiences
were less likely to be disabled compared to the population. We did, however, see a higher percentage of
audiences who are gay, lesbian, or bisexual.
Lots of oryanisatlon8 Share audiences who they only 8ee occa8lonalty. Existing population level shows
most people have been in the last year. But box Offi￿ data consistently suggest it's only once. IMPACT shows
audien￿9 are not just engaged, its frequent- across lots of different pla￿S and spaces.
Age Impacts attendance. Most IMPACT audiences continue to be be￿een the ages of 40 and 74. When we
look at this by art fomi, theatre audiences are more likely to be 60 and older.
IMPACT North West
Our long-term collaboration with Derry cty and Strabane DislriGrt Counal and Donegal County Council continued
this year as we moved into the third year of colleding consistent audience data across the 2 areas.
Based on conversations with organisations across the North West and our partners, we decided to align the North
West survey with IMPACT. This way, we can compare data among audiences in the North West with data in
Northem Ireland. This also allowed for more detailed insight5 into North West audIen￿'S motivations. behaviours,
and the irnpact arts and wlture has on their lives.
IMPACT North West collected 2534 responses in 2024-25.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
What have we learned..
The unique motlvatlons and behavlours of audlènces In the North West. They do things differently
from the rest of Northern Ireland. North West audiences are more likely to come alone or wilh younger kids
and spend fflore on average {£79 per respondent vs. £54 in IMPACTI.
Thèra are some difference8 regionalty. Visitors to Dery and Strabane venues are slightly less likely to
have been to the space before. They are also more local (69a/o travelled from less than 30 minutes away,
compared to 590/0 in Donegal).
Last mlnute booklng is • problem. 27 /0 of respondents In the North Wèst booked Ihe week of the vlslt,
compared to 12Yo acrass the rest of Northern Ireland.
A concem across both reglons IJ the response levels from dlsabled audience8. The 0/0 of disabled
people we see attending in Donegal is half that of Derry and Strabane.
Some of the trends we're Seeing Sn the North Wast are playlng out natlonally. Simllar research In the
Republic of Ireland show5 similar results for disabled audiences.
row en
ement with our work
It is not enough for thrive to produce great research or deliver quality projects for our clients. We need the outputB
of ourwork to be seen, read, questioned and used to bring about the thanges we want to see.
We know then to da that we need to focus on 2 areas..
We need more people to know who we are and what we do
We need to improve engagement across all our channels
Wider audlence
This year, we spent considerable time on building our network8 and relationships to help build our profile and
audience base.
Some highlights Include:
Presenting at the European Data Alliance on IMPACT research
Teaching on the MA in Arts Management at QUB
Presenting to Donegal Festivals Forum
Presenting at both the Arts Marketing Assoclation Conference and Ticketing Professional Conference
Presenting at Arts and Busine88 Cultural Governance Conference
Webslte Refrn8h
Thrive's website was created in 2017 as the organisation moved away from a membership model to income
generation. Bul the structure had not been adapted lo align with the shift lo focus on research and data. A refresh
was needed to help users find our work more easily and better tagging functionality to suggest other content based
on their interests.
The refresh process began in autumn and allowed us to spend time updating and refreshing content with the help of
Al to improve the user experience
Engagement Levels
1,576 downloads from our websits
8,627 followers on social
23 new pieces of content
30,000 website vi5itS

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
3. We will be better e
ui
Èd to deliver our
oals.
This strategic objectiv8 focuses on 2 main areas.. our people and our processes.
People
We want a happy, confident staff team and have created and developed policies and procedures that will produce
that result and refled thrive's values.
These indude..
Employee Development policy which focuses on not only professional, but personal development.
Performance Management- staff are set clear objectives with target5 which flow from company KPI'S and
have quartedy check ins to review progress, discuss appropriate support and development needs.
Recruitment- we make sure that we find the best people for the role and the company and that each lob is
accessible and equitable
Pay policy - making sure thal remuneration Is fair and transparènt and allows scope for development and
progression
Brea8t feeding and Menopause policies- to make sure we look after the team at different lrfe stages
Processes
To deliver maximum impact for the sector we support, thrive ha8 to work efficiently and effectively. We have created
strong project management framework that allows all staff to know their workloads and roles within projects.
Communication is imperative here and team meetings are focused and action orientated.
Our project management System involves:
Project brief
Action logs
Content creation and communications plan
Company oveNiew of activity
Project debriefs
We also make sure that all of our management documents speak to each other e.g. strategic plans, risk regi8ter,
Board reporting and staff performance management. All of this activity is evidenced through our KPI framework and
reviewed regulady by both Board and staff team.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Achievement5 and erformance
Thrive uses a series of targets and key performance indicators (KPIs1 to monitor and measure its achievements and
performance. These relate directly to the outcomes we seek to eff8Ct. A selection of Ih05e delivered in 2024-25 are
detailed below.
Sector Support
Over $50 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
Sector Insight
Worked with 136 organisationg from across Northern Ireland
53 of these were new to thrive
88 were returning clients
Worked with 58 venues, 18 producers, 17 festivals and 15 individual artists
Client S8tisfacbon
100% of paid ¥yO￿ clients rat8d us 4. ormore
100% ofAudi8nce Appointment customers said th8y gol wh8t Ihey n88ded from the s8ssion
What our clients say..
"The anslysis thrive ha5 und8rtaken had enabled u8 to leverage and additional £1 Ok of funding.
"With the help of your valuable research we were able to secure funding for 8 new accessible website from DCSDC.
Drawing on some of your findings we will going forward with a WCAB 2.2 website which will be of the highest
intemational standards.
It was a very positive experience working with Thrive. It was wonderful to have people who understand the sector to
undertake the planning and evaluation and we would recommend Thrive to our ne￿ork.
Govamance
Thrive has developed a strong governance framewoTk whlch it continues to evolve and develop.
2024-25 saw the departure of 1 Board members and the appointment of 4 new members following ski115 audit and
open recruitment process. Following inteNiews with applicants, 4 Trustees were appointed, and a cornprehensive
induction took place. Conran Mcmullan, Emma McAleer, Joanne Wright and Claire O'connor Icowopted) were
appointed in May.
Mark Walker was appointed as acting Chair of the Finance and Risk Subcommittee in line with thrive Memorandum
and Articles (acling on behalf of Naomi Majury who is on matemity leave, and Margaret Henry joined the committee.
Nuala Toman continued as Chair of the Nominations and Remunerations Subcommittee in line with thrive
Memorandum and Articles.
Verity Peet was appointed 85 the new Chair of thrive following an open recruitment process and in line with thrive
Memorandum and Artides. Verity replaced Rory Clifford who had come to the end of his tenure.
Reporting to the Board continues to work well, with a focus on organisational KPIS that align lo Ihrive's strategic
priorities and evidences the impact of the work.
Financlal revlew
Thrive's end of year position shows a deficit of £10,613. Financial stability remain5 a challenge for thrive as the
organisation and the sector it serves, face an unknown and changed environment. Vvhile ACNI continLJes to support
Ihrive as our rnain funder, an increase in that award is unlikely as budgets all across government are squeezed.
Thrive'5 expansion into new markets and in collaboration with partners, have helped to combal increasing costs in
an uncertain markel. Further work will be done to increase customer retention and open new markets in line with
our strategic goals.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Reserves pollcy and going concern
There is a reserves policy in place. Thrive has identified £230,424 (2024.. £245,554) as unreslricted reserves in the
2024-25 annual accounts.
All reserves are within the operational reserves fund, the purpose of which are set oui below but include the
potential for a structured winding-up of the company should the need arise.
Operational reserves are required lo allow the organisation to continue to deliver its charitable objectives and seek
altemalive funding sources should existing annual funding be restricted and to provide assurance against the risk of
an unforeseen emergency or other unexpected need for funds. In addition, operational reserves provide the
organisation with the ability to react to short-term opportunities. In quantifying the level of operational reserves
required, the level of net current assets is compared to the average monthly expenditur8. The risks 8ssocialed with
future income, grants and expenditure are also considered.
Thrive's reserves pollcy states that 6 months of the annual recurring expendlture is required as operational
resepies. Presently the reserve arnount is below that threshold as reserves have been used to meet planned
deficits during the change proce88.
In addition, strategic reserves are required for planned commitments that cannot be met by future annual funding
alone. The Trustees would wish thrive to hav8 a strategic reserve to enable it to rnaintain and develop the ability to
provide data and insight to arts, cultural and heritage organisalions.
The Board has highlighted the return to a break-even p051tion and the ability to restore reserves to the required level
within the new strategic priorities. The Finance Bnd Risk Committee will continue to support the wider Board in
monitoring financial controls and performance, including opportunities to increase efficiencies and reduce costs.
Operational and strategic reserve requirements and risks will continue to be reviewed by the Board in 2025-26.
statsment of Invegtment Princlple8
The Trustees have adopted a statement of investment principles (SIP), which sets out the principles governing
decisions about investment of the assets of thrive. The Trustees of thrive issue this statement to comply with the
regulations set out in the memorandum and articles of association of the organisalion.
In order to meet the requlrements of the SIP, thrive will invest in 3 separate portfolios..
Two fixed-term investment funds
One account wilh instant access and competitive rates
The SIP will be reviewed annually and withoLrt delay after any significant change of inveslment policy.
Structurè, governance and managèment
In November 2017, the Board revised and updated the memorandum and articles of association. This revision
aligned the memorandum and articles Wlth our new purpose and incorporated the name change. Any relevant
changes in company law or charity law were also implemented. This work was undertaken by Edwards & Co.,
thrive's legal advisers.
The new company name, Thrive Audience Development, was registered at Companie5 House under Company
Number N1051394 and with the Charity Cornrnission Nl under the existing reference NIC 102561 which was
assigned on 5 May 2015.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
The Trustees who served during the year and up to the date of signature of the fin8nGial statements were..
Mr R Clifford
(Resigned 1 May 2024)
Ms R L Fillpatrick
(Resigned 1 May 2024)
MsNMMMajury
Mr J P McElrone
Ms F N Mellor
DrVEP8et
Ms L Rea Cu￿le
Ms N R Toman
Mr M Walker
Ms MF Henry
Ms E McAleeT
Mr C Mcmullan
Ms C O'connor
Ms J Wright
(Appointed 1 May 2024)
(Appointed 1 May 2024)
(Appointed 1 May 2024)
(Appointed 1 May 2024)
R•crultment and •ppolntment of DIMctor8
Thrive's process on the recruitment and appointment of directors is underpinned by the memorandum and artlcles.
Board recruitment is irrfomied by a regular discussion and the Board evaluation process to identify what skill8 need
to be re¢TUited to the Board. The Nominations and Remuneration committee take6 the process forward 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 Board. After serving a further &year period, the
Board member must step down.
Director inductlon and training
All potential Board members can observe at least 1 Board meeting before committing to joining the Board. An
induction plan is put in place for all new Board members, and this was revised in 2022. The induction offers clear
infomiation on the trustee and company director roles, including clarity on the key legal and statutory responsibilitse8
of those roles.
Inltial Induction includes the opportunity to meet the te8m, the Chair and the CEO.
Board training is overseen by the Nominatlons and Remuneration committe8. 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 which 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.
lthere appropriate, systems or procedures have been established to rnitigate the risks the charity faces. Intemal
control risks are minirnised by the implementation of procedures for authorisation of all transactions and projects.
All trustees recognise there is a requirement to raise any new risks and significant changes as and when they
become apparent

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Organisational structure
Thrive's memorandum and artides stipulates that the number of trustees shall be not less than six nor more than
eleven, excluding co-opted trustees.
The Board met 7 times in 2024-25 to discuss and direct the strategic direction and policy of the charity.
In 2024-25 the Finance & Risk committee mel 6 times to look al the financial reporting and risk for the OTgani8ation.
The Nominations and Remuneration committee met 4 times to look at the creation of the organisation'8 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 carrying out staff exit inteNiews. Furthemiore, Trustees have used their individual skills in a voluntary caparity
to assist, and support thrive, contributing many frée hours to the development of th8 charity.
Day-to-day responsibility for the prov15ion of services rests with the Chief Executive Officer. The Chief Executiv8
Officer is responsible for ensuring that the charity delivers the services specified and that key performance
indicators are met.
ststement of Tru8tee8' respon8lbllitie•
The Trustees, who are also the directors of Thrive Audience Development for the purpose of company law, are
responsible for preparing the Trustees, Report and ttte 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
Trustees have prepared the financial statements in accordance with United Kingdom Accounting St8ndards,
comprising FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and
applicable law (United Kingdom Generally Accepted Accounting Practi￿). Under company law the Trustees must
not approve the financial statements unless they are satisfied that Ihey give a true and fair view of the state of the
affairs of the and of the incoming resources and application of resources, including the income and expenditure, 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.,
observe the methods and principles in the Statement of Recommended Practice.. Accounting and Reporting
by Charities (20151.,
make judgments and estimates that are reasonable and prudent,. and
prepare the financial statements on Ihe goin9 concern basis unless it is inappropriate to presume that Ihe
will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the
company's transactions and disclose with reasonable accuracy al any time the financial position of the company
and enable them to ensure that the company comply with the Companies Acl 2006. They are also responsible for
safeguarding the assets of the ¢ornpany and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
In ￿rtain carcumstances clients may choose lo include an additional statement here which is required to be made
within the d1￿ctorS, report as a resull of Section 418 of th8 Companies Act 2006.
In accordance wilh Section 418, directors, reports shall include a statement. in the case of each director in Offi￿ at
the date the directors, report is approved, that..
(a) so far 8s the Trustee is aware, there is no relevant audit information of which the companVs auditors are
unaware" and
(b) they have taken all the steps that they ought to have taken as a Trustee in order to make themselve5 aware of
any relevant audit information and lo establish that the company's auditors are aware of that information.

THRIVE AUDIENCE DEVELOPMENT
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Auditor
In accordan￿ with the company's articles, a resolution proposing that HM Chart8red Accountants be reappointed
as auditor of the company will be put at a General Meeting.
The Trustees. report was approved by the Board of Trustees.
DrVEPeet
Trusts8
Date..
22110125
10

THRIVE AUDIENCE DEVELOPMENT
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF THRIVE AUDIENCE DEVELOPMENT
Opinlon
We have audited the financial statements of Thrive Audien￿ Development {the 'charity') for Ihe year ended 31
March 2025 which comprise the slatement of financial activities, the statement of financial position, the statement of
cash flows and notes to the financial slatements, includlng signlficanl 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 applicabl8 in the UK and Republic of
I￿land {United Kingdom Generally Accepted Accounting Practi￿).
In our opinion, the financial statements..
give a true and fair view of the state of the chaTit8ble 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 prepared in accordancè with United Kingdom Generally AC￿pted Accounling Practi￿,.
and
have been prepared in accordance with the requirements of the Companies Act 2006.
Ba8ls for oplnlon
We conducted our audit in accordance with International Standards on Auditing (UK) IISAS (UK)) and applicable
law. Our responsibilities under those standards are further descnbed in the Auditorfs responsibilitl8s for the audit of
the fin8noal statéments section of our report. We are independent of the charity in accordance with the ethical
reqUirem￿t$ Ihat are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical
standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to golng concern
In auditing the financial statement5, we have conduded that the Trustees, use of the going conrRrn 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 c8St significant doubt on the charity's ability to continue as a going
conc8m for a perlod of at least twelve months from when the financial statements are aulhorlsed for i8SU8.
Our responsibilities and the responslbilities of the Trustees with respect to going concern are described in the
relevant sectlons of this report.
Other Informatlon
The other information comprises the infoTmalion included in the annu81 report other than the financial stalements
and our auditor's 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 thareon.
Our responsibility is to read the other information and, in doing so, consider whether the other information 15
materially inconsistent with the financial stalements or our knowledge obtsined in the course of the audit, or
otherwise appears lo be materially misstated. If we identify such material inconsistencies or apparent material
misstatements, we are required to determine whelher this gives rise to a material misstatement in Ihe financial
statomenls themselves. If, based on the work we have perfomied. we conclude that there is a material
misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
11

THRIVE AUDIENCE DEVELOPMENT
INDEPENDENT AUDITOR'S REPORT (CONTINUEDI
TO THE TRUSTEES OF THRIVE AUDIENCE DEVELOPMENT
Mattèrs on which we ar8 requlred to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities Accounts and Reports
Regulations (Northern Ireland) 2015 requires us to report to you if, in our opinion..
the infomiation given in the financial statements is inconsistent in any material respect wilh 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 audlt,
Re8pon8lbilitles of Trustees
As explained rnore fully in the statement of TTUStees' responsibilities. the Trustee8, who are also the dlrectors of the
harity for the purpose of company law, are responsible for the preparation of the financial statements 8nd 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 financAal staternents that are free from material ffl15Stat8ment, whether due to fraud or
error.
In preparing the financial statements, the Trustees are ￿SponSible for 85sessing the Cha￿ty's ability to contlnue as
going concern, disclosing. as applicable, matters relaled to going concern and using the going Concern basis of
accounting unless the Trustee8 either intend to liquidate the charitable company or to cease operations, OT have no
realistic altemats've but to do so.
Audltor's re8pon8ibilitles for the audlt of the financial 8tatemonts
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 to fraud or error, and to issue an auditor's report that includes our opinion.
Reasonable 8ssurance is a high level of assurance but is not 8 guarantee that an audit conducted in accordance
with ISAS (UK) will always detect a materi81 misstatement when it exists. Misstatements can arise from fravd or
error and are considered material if, individualty 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 descriptlon of our responsibilities is available on the Financial Reporting Councll's website at: httP8:11
www.frc.org.uklauditorsresponsibilities. This description forms part of our auditorfs report.
12-

THRIVE AUDIENCE DEVELOPMENT
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF THRIVE AUDIENCE DEVELOPMENT
Our approach lo identifying and assessing the risks of material misstatement in respect of irregularities, including
fraud and non-compliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team colleclively had the appropriate competence,
capabilities and skills to identify or recognise non-complian￿ with applicable laws and regulalions.,
we identified the laws and regulations applicable to Ihe company through discussions with directors andlor
senior management, and from our commercial knowledge and experiènce of the s8Ctor,
We focused on spècific laws and regulations which we considered may have a direct material effect on the financial
statements or the operations of the company. incSuding Companies Act 2006, taxation legislalion, dat8 protection,
antI￿ribery, employmant, environmental and health and safety legislation:
we assessed the extent of compliance with the laws and regulatlons identified above through making
enquiries of management and inspecting legal correspondence.. and
identified laws and regulations were communicated within the audit team regularly and the team remained
alert to inslances of non-compliance throughout the audit.
We assessed the susceptibility of the company's financial statements to material rnis8tatement, Including obtaining
an understanding of how fraud mighl occur, by..
making enquiries of management as to where they considered there was susceptibility to fraud, their
knowledge of actual, suspected and alleged fraud., and
considering the intemal controls in place to mitigate risks of fraud and non-compliance with laws and
regulations.
To address the risk of fraud through management bias and ove￿Ide of conlrols, we..
perfomied analytical procedures lo identify any unusual or unexpected relationships.,
tested journal entries lo identify unusual transactions-
assessed whether judgements and assumptions made in determining the accounting estimates set out in
Note 2 were indicative of potential bias-, and
Inve8tigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-cornpliance with laws and regulations, we designed procedures
whlch induded, but were not limited to:
agreeing financial statement disclosure8 to undertying supporting documentation;
reading the minutes of meetings of those charged with govemance-,
enquiring of management as to actual and potential litigation and clalms., and
reviewing Correspondence with HMRC and the ¢ompanVs legal advisors.
There are inherent limitations in our 8udit procedures described above. The more removed that laws and
regulalions are from financial transactions, the less likely it is that we would become aware of non-compliance.
Auditing standards also limrt the audit procedures required to identify non-compliance with laws and regulations lo
enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.
Materi81 misstatements that arise due to fraud can be harder to detect than those that arise 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
Thls 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 state to the company's members those matters we
are required to stat8 to them in an audltols report and for no other purpose. To the fullest extent permittèd by law,
we do not accept or assume r8sponsibilily to anyone other than thè company and the company's members as a
body, for our audit work, for this report, or for the opinlons wè have formed.
CLJ
Angela Cralgan (Senior Statutory Auditor)
for and on behalf of HM chartered AGGountants
2211012025
Chartered Accountants
Statutory Audltor
6th Floor East Tower
Lanyon Plaza
8 Lanyon Place
Belfast
County Antrlm
BT1 3LP
14-

THRIVE AUDIENCE DEVELOPMENT
STATEMENT OF FINANCIAL ACTMTIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Unre8trlcted Restricted
funds
funds
2025
2025
Total Unrestrictsd Restricted
funds
funds
2024
2024
Totsl
2025
2024
Note•
Income froffl:
Donations and legacies
Charitsble activities
Inve8tments
90
95,127
7,280
95
61,575
4,708
95
327,521
4,706
217,276
312,403
7,280
265,946
Total Income
102,497
217,276
319,773
66,378
265,946
332,322
Expendlture on:
Charitsble activitie8
117,627
212,759
330,386
35,880
265,946
301,826
Total expenditure
117,627
212,759
330,386
35,880
265,946
301,826
Not Incomellexpendlturel and
movement in funds
(15,130)
4,517
(10,813)
30,496
30,496
Reeonclllatlon of funds:
Fund balances at 1 April 2024
245,554
245,554
215.058
215,058
Fund balance6 at 31 March
2025
230,424
4,517
234,941
245,554
245,554
The ststement of financial activities includ8S 811 gains and losses recognised In the year. AIS Income and expenditure
derfve from continuing activitles,
15-

THRIVE AUDIENCE DEVELOPMENT
STATEMENT OF FINANCIAL POSITION
ASAT31 MARCH 2025
2025
2024
Fixed assets
Tangible assets
12
5,390
931
Currènt assets
Dèbtors
Cash at bank and In hand
13
41,455
221,057
7g,637
210,836
262,512
290,473
Credltor8: amount• falllng duo wlthin
on• y••r
14
(32,961)
(45,850)
Net current assets
229,551
244,623
Total a898ts le8• current liabllltle8
234,941
245,554
The fund8 of tho charity
Restricted income funds
Unrèstricted funds
17
18
4,517
230,424
245,554
234,941
245,554
The company 18 entitled to the èxemption from the audit requiremenl contained in section 477 of the Companies Act
2006, for the year ended 31 March 2025.
The dlrectors acknowledge thelr responsibilrties for complying with the requirements of the Companies Act 2006
with respect to accounting records and the preparation of financial siatements.
The members have not required the company to obtain an audit of its financial ststements under the requlrements
of the Companies Act 2006, for the year in question in accordance wth section 476.
These financial statement8 have been prepared in accordance wlth the provisions applicable to compani88 subject
to the small companies regime.
22110125
The financial statements were approvE,.d by the Truslees on .......-.....
DrVEPeet
Trustee
Company registration number N1051394 (Northem Ireland)
16-

THRIVE AUDIENCE DEVELOPMENT
STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
Notes
Cash flow8 froffl opèrating actlvltie•
Cash generated froml(absorbed by)
operations
21
7,761
(32,239)
Inve8tlng actlvttles
Purchase of tangible fixed 88sets
Investment Income raceived
(4,821)
7,280
(1,435)
4,706
Nat cash generatsd from Investlng
actlvitie8
2,459
3,271
Net ca8h u•od In flnanclng actlvltlo•
Net Increa8el(decroasel In ca8h and cash
equlvalents
10,220
(28,968)
Cash and cash equivalents at beglnnlng of year
210,836
205,166
Cash and ca8h equlvalent8 at end of year
221,057
210,836
17

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
AGcountlng pollcles
Charity infomiation
Thrive Audience Development 15 a private company limited by guarantee incorporated in Northem Ireland. The
charity is registered with the Charity Commission for Northem Ireland. the registered office is Crescent Arts
Centre, 24 Universty Road, Belfast, BT7 1 NH.
1.1 Accountlng convention
The finanaal statements have been prepared in accordance with the charIt￿S goveming document, the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" ( FRS 102") and the Chafilies SORP "Accounting and Reporting by Charities.. Statement of
Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK ancl Republic of Ireland (FRS 102)" (effective 1 January 2019). The
charity is a Public Benefit Entity as defined by FRS 102.
The financial statements are prepared in sterling, which is the functional ￿J￿enCY of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historlcal cost convention, modlfied to indude the
revaluation of freehold properties and to include investment properties and certain financial instruments at fair
value. The principal accounting policies adopted are set out below.
1.2 Golng concem
At the lime of approving the financial statements, the Trustees have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable fultsre. Thus the Trustees
continue to adopt the going concern basis of accounting in preparing the fin8ncial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the dlscretion of the Trustees in furtherance of their charitable
objectives.
Restricted funds are subject to specffic conditions by donors or granlors a6 to how they may b8 used. The
purposes and use5 of the restricted funds are set out in the notes to Ihe financial statements.
1.4 Income
Income is recognised when the chaTity is legally entitled to it after any performance condilions have been met,
the amounts can be measured reliably, and it is probabSe that incorn8 will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unles5 perfomiance conditions require deferral of the amount.
Legacies are recognised on receipt or otherrti8e 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
contingent asset.
18

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accounting policies
(Continued)
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 benefits will be required in settlement, and the amount of
the obligation can be measured reliably,
Expenditur8 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 lo a single
activity are allocated directly lo th8t activity. Shared costs which contribute to more than one activity and
support costs which are not attributable to a single activrty are apportioned be￿een those activities on a basis
consistent with the use of resources. Central staff costs are allocated on Ihe basis of time spent, and
depreciation charge5 gre allocated on the portion of the asset's use.
1.6 Tanglble fixed 0•8ets
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 thelr
useful lives on the following bases:
Computer Equipment
Fixtures and fittings
33% per annum straight line
10 % per annum straight line
The gain or loss arising on the disposal of an asset is detemiined as the difference between the sale proceeds
and the carying value of the asset, and 18 recognised in the statement of financial activities.
1.7 Impalmient of flxed a888ts
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such indicalion
exists, the recoverable amount of the asset is estimated in order to determine the extent of the impaimient
loss (if any),
1.8 Cash and eash equlvalents
Cash and cash equivalents include cash in hand, deposils 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.
1.9 Flnancial Instrurnents
The tharity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Sectlon 12
'Other Finanrial 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 paty to the
contractual provisions of the instrument.
Financial assets and liabilities are offsel, with the net amounts presented in the f5nancial 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 balgnces, are initially measured at
transaction price induding transaction costs and are subsequently carried at amortised c05t using the effective
interest method unless the arrangement constitutes a finanang transaction, where the transaction is
measured at the present value of the future re￿iptS discounted at a market rate of interest. Financial assets
classified as receivable within one year are not amortised.
19

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Accountlng policies
{Contlnued)
Basic financlal Ilabilities
Basic financial liabilities, induding creditors and bank loans are initially recognised at transaction price unless
the arrangement conslitutes 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 Ihe ordinary course of
operations from suppliers. Amounts payable are dassified as cu￿ent 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 flnanclal liabllltlés
FinanGial liabilities are derecognised when the d)arity's contractual obligatlons expire or are discharged or
cancelled.
1.10 Employee benefits
The cost of any unused holiday entitlemenl is recognised in the period in which the employee's seNices ar8
received.
Temiination benefits are recogni5ed immediately 8s an expense when the charity is demonstrably committed
to temiinate the employment of 8n employee or to provide termination benefits.
1.11 RetSremant benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Critical accounting estimates and Judgements
In the application of the charity's accounting policies, the Trustee5 are required to make judgernents,
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 estimales and underlying assumptlons are reviewed on an ongolng basis. Revlslons to accounling
estimates a￿ recognised in the period in which the estimate is revised where thè revision affects only that
period, OT In th8 period of the revision and future periods where the revision affects both Current and future
perlods.
Income from donatlons and legacle8
Unrestrlcted
funds
2025
Unrestricted
funds
2024
Donations and gifts
90
95
20-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Charltable activities
2025
2024
Other eamed income
Grants
95,127
217,276
61,575
265,946
312,403
327,521
Analysls by fund
Unrèstricted funds
Re8tricted funds
95,127
217,276
61,575
265,946
312,403
327,521
Arts Council Northern Ireland (ACNI)
National Lottery Heritage Fund INLHF)
Department for Communities
Belfast City Council
Arts Counal Northern Ireland Capital Programmè
166,172
170,476
54,170
21,300
20,000
26,546
20,000
4,558
217,276
265,946
Income from Inve8tmonts
Unre•trlcted Unre*trlct•d
funds
fund8
2025
2024
Interest re¢elvable
7,280
4,706
21

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Charitable activities
Charitsblè CharitAbl•
actlvllies
actlvities
2025
2024
Staff costs
Depreciation and impairment
Charltable expendltur8
268,797
381
41.433
212.701
1.715
65,018
310,591
279,432
Share of support costs (86e note 7)
Share of goveTn8nce co8t8 (see note 7)
17,045
2,750
19.644
2,750
330,386
301.826
Analysls by fund
Unr8Stricted funds
Restricted fund5
117,627
212,759
35,880
265,946
330,386
301,826
Support costs
Support Governanco
costs
costs
2025
Support Governance
Coats
costs
2024
Admin costs
HMRC VAT Irrecoverable
Rent
5,690
2.271
8,884
5,690
2,271
8,884
7,011
4,234
8,400
7,011
4,234
8,400
Audit fees
2,950
2,950
2,750
2,750
16,845
2,950
19,795
19,845
2,750
22.395
Analysed between
Charitable adivities
17,045
2,750
19,795
19,644
2,750
22,394
Governance costs indudes paymerrts to the auditors of £2,750 (2023.. £2,450) for audit fees.
2025
Net movement in funds
2024
The net movement in funds is Stated after chargingl(crediting)'.
Fees payable for the audit of the charity's financial statements
Depreciation of owned tangible fixed assets
2.950
382
2,749
1,715
-22-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
None of the Truslees (or any persons connected with them) received any rémuneration or benefits from the
charity during the year (2024.. Nil).
10 Employees
The 8V8rage monthly number of employees during the year was:
2025
Number
2024
Numbor
Employment co•ts
2025
2024
Wages and salaries
Social security c08ts
Other pension costs
241,076
16,541
11,180
192,644
11,484
8,573
288,797
212,701
The number of employees whose annu81 rernuneration was more than £60,000
18 as follows=
2025
Number
2024
Number
£60,001 to £70,000
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2025
2024
Aggregats compensation
62,425
60,872
11 Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section
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 2025
12 Tangible fixed assets
Computer Flxtures and
Equlpmofftt
ritting•
TotAI
Cost
At 1 April 2024
Additions
16,321
4,821
3,958
20,279
4,821
At 31 March 2025
21,142
3,958
25,100
Depreclation and Impalmient
At 1 April 2024
Depreciation charged In the year
16,033
198
3,315
184
19,348
362
At 31 Marth 2025
16,231
3.479
19,710
Carrying amount
At 31 March 2025
4,911
479
5,390
At 31 March 2024
287
931
13 Debtor•
2025
2024
Amounts falllng due wlthln one year:
Trade debtors
other debtors
Prepayments and accrued income
27,963
8,609
4,883
20,183
54,591
4,863
41,455
79,637
14 Cr•dltors: amount• falllng due wlthln one year
2025
2024
Nots8
Other taxation and social security
Deferred income
Trade creditors
Other creditors
Accruals
11,848
9,783
6,587
10,398
2,714
16,370
15
3,038
170
17,907
32,961
45,850
-24-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
15 Defèrred income
2025
2024
Other deferred income
8,587
Deferred income comprises of income invoiced in advance of project delivery milestones.
Deferred Income is included In the finan¢lal statements as follows:
2025
2024
Deferred income Is induded withln:
Current liabilities
6,587
16 Rgtirement benefit 8chame8
2025
2024
Defined contrlbution Schemes
Charge to profit or loss in respect of defined contribution schemes
11,180
8,573
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 Restrlcted fund8
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust
subject to Specific condib.ons by donors as to how they may be used.
Movement In fund•
Incomlnq
R••ource
Balance at
ourc••
•xpfrnded 31 March 2026
B•lanGe •t
1 Aprfl 2024
Arts Coun¢il Northem Ireland (ACNI)
Arts Council Northem Ireland Equipment
Department for Communities
Belfast City Council
188,172
4.558
26,546
20,000
(166.172)
(41)
(26,546)
(20,000)
4.517
217.276
(212,759)
4,517
Restricted fijnds 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 2025
18 Unrestrictsd funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which 8re
not subject lo 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 specrfic purposes.
At 1 Aprfl
2024
Incomlng Re80urce8 At 31 March
resource8
axpended
2025
General fvnds
245,554
102,497
1117,627)
230,424
Prevlous year:
At 1 Aprll
2023
Incomlng Re8ource• At 31 March
r8sources
expended
2024
General funds
215,058
68,376
(35,880)
245,554
19 Analysis of net a8•ets between fund•
Unrestrlcted Rostricted
fundg
funds
2025
2025
Total Unrestrlcted Restrlcted
funds
fund8
2024
2024
Total
2025
2024
Fund balan￿$ at 31
March 2025 are
represented by:
Tangible a8set8
Current assetsllliabilitiesl
873
229,561
4,517
5,390
229,551
931
244,621
931
244,622
230,424
4,517
234,941
245,552
245,553
20 Related party tran8ACtlon8
During the year a total of £450 was paid lo trustee Margaret Henry in relation to Staff Iraining12024: £Nil).
21 Cash g•nerated from operatlons
2025
2024
(Deficit)Isurplus for the year
110,613)
30,496
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
(7,280)
361
(4,706)
1.715
Movements in working capital:
Decrease in debtors
(Decreasellincrease in credilors
(Decrease) in deferred income
38,182
(6,302)
(6,587)
6,629
4,829
(2,295)
Cash generated from operatlons
7,761
36.668
-26-

THRIVE AUDIENCE DEVELOPMENT
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2025
22 Analysis of changes In net fund8
The tharity had no material debt during the year.
-27-