Dccusign Envelope ID.. OA229663-6A2C-41AA-88B6-821D4352C452
Carn Media
Dlrectors, report and unaudited flnanclal
statements for the year ended 28 February
2018
Re8lstratlon No: N1053949 (Northern Irelandl
Charlty No: XT27271

D(xxsStgn Envelope ID.. OA2296634A2C-41M-88B6-821D4352C452
Curn Medla
Unauditedfintrnclalstutementsforthe yearended28 Februury 2018
Contents
Page Isl
Directors and adv55ors
Strateglc report
Directors, report
Independent Examlners, report
statement of Flnanclal ActSvltles and Statement of CompTehen51ve Income
Statement of Flnancial Posltlot)
statement of Cash Flows
Statement of Changes In Equlty
io
Notes to the flnanclal statements
11-15
ASM

Dc¢uSiqn Envelope ID= I)A2296634A2C41AA-88B6421D4352C452
Curn Medlo
Unwditedfinundalstatementsfvrthe yearended28 F¢lJruory2018
Poge 2
Directors and advisors
Dlrectors
Accountants
Declan Devlin
Cathal Hasson
Sean Kerr
Niall O'cathain
ASM IMI Ltd
Chartered Accountants
The Diamond Centre
Market Street
Magherafelt
Company Secretary
Bankers
Leanne Noonan
Bank of Ireland IUKI plc
55 Main Street
Maghera
Reglstered Offlce
Sollcltors
An Carn
Tirkane Road
Maghera
PJ McGuckln
Hall Street
Maghera
ASM

DowSvJn Envelope ID.. OA229663.8A2C.41AA-B8B6-821D4352C452
Curn Medi
UnauditedAlntsndalstutementsAorthe yeorended28 Febr¢wry2018
Poge2
Strateglc report
Prln¢lpal activitles
The principal actwity of the Company is to develop and produce short films, educational products
and trainin8 and consultancy in multimedia skills, and a150 to offer in-house anlmation production
seNices incorporating workshop based programme5 in schools and collegès.
Business review
Both the level of business arkd the year end financlal p051tion were considered sat15fartory given the
objectives of the Company, and the directors expect that the current level of activity will be
Improved for the foreseeable future.
The results for the year are set out in the Statement of financial activities on page 7 and In the
related note5.
Prlnclpal rlsks and uncertaintles
The key buslne5s rlsks and uncertalntles affectlng the Company are malntalnln8 sales levels and
donatlons,
The Company's management endeavour to mltigate these rlsks by Im plementlng regular strate8lc
and operational review5.
Key performance Indlcators
The Company's dlrectors are of the opinion that analysls uslng key performance indlcators Is not
necessary for an understanding of the development, performance or posltlon of the buslness.
Flnanclal rlsk managément
The Company does not actively use flnancial Instruments a5 part of it5 financial rlsk management. It
Is exposed to the usual credSt rlsk5 and cash flows assoclated with selling on credlt and manage these
risks through credit control procedures.
The malorlty of the Companrfs activities Bre conducted in sterlin8ft Wlth the amount of trade in other
currencies being minimal. Therefore the currency risk to the Company is mlnlmal.
Future outlook
The dlrectors remaln confident that the current level perfomiance will be Improved in the future
and it is the Directors, intentlon to develop the present activitie5 of the Company.
By Order of the Board
DoGySloDedby'.
O-'CAI(w
Dlrector
29 November2018
ASM

Docuslgn Envelope 50.. OA229663-6A2C-41AA-88B6421D4352C452
Cam Med
Unuuditedllnonciu15tutementsfvrthe year ended28 Februory2018
Poge 3
Directors, report
The directors present their report and the unaudited financial ststements for the year ended 28
February 2018.
Results
The Statement of financlal activitie5 for the year is Set out on page 7.
Dire¢tors
The directors of the Company at 28 February 2018, who have all been dlrectors for the whole of the
year ended on that date, are Ilsted on page l.
Corporate governance
Carn Medla is a company Ilmited by guarantee and as such It does not have share Capital.
Every director being a member of the Executlve Commlttee undertakes to contribute to the assets of
the Company, in the event of same belng wound up while he is a member, or wlthin one year after
he ceases to be a member, for payment of debts and Ilablllties of the Company contrarted before he
ceases to be a member, and of the costs, charges and expenses of windlng up, and for the
adjustment of the rlghts of the contributors amon8 themselves, such amount as may be requlred not
exceeding £1.00.
The Company was incorporated on 17 February 2005 and Its governlng Instruments are the
Memorandum and Artlcles of Associatlon. The address of the Companys re8lstered office, whlch15
also its prlncipal address, Is glven on pa8e I,
The Company reglstered wlth the HM Revenue & Customs as a charitable body for taxatlon purposes
(HM Revenue & Customs Charity No XT27271I on 10 December 2010.
Remuneratlon
The directors of the Company recelved no remuneration other than the relmbursement of out of
pocket expenses.
Commentary on the finantlal statements
Finuncialstatements presentotlon
The Company's finan¢i815tatements have been presented Sn the format set out as best practice by
the Statement of Recommended Practice I'SORP'I, "Accounting by Charities. Issued by the Charity
Commissioners In England and Wales.
ASM

D(KuSl9n Envelope ID.. OA2kn834A2C.41AA-88B6-821D4352C452
Curn Medlts
Unoudltedfinanclolstotementsforthe
Poge 4
earended28 Febrnary2018
Dlrectors, report
The Statement of Financial Activities I'SOFA") set out on page 7, focuses on showing the totsl
incoming resources, both revenue and capStal, which have been made available to the Company
durin8 the year and the way in which those resource5 have been used, whether as direct charltable
expenditure in carrying out and supporting the Companws community driven actlvlties, or in the
management and administration of the organisation itself. The SOFA also shows those incoming
resources for the year received from sources which place restrictions on the way in whlch the
Company can use the funds, and the level Of incoming resources that can be used by the Company
without restrictlon, within the Company's charitable objects.
Financlttl results ond thefundlng oAAuture work
oth the level of actlvity and the year end financial positlon were considered satisfactory given the
objects of the Company& and the dlrectors expect that this levèl of activlty wlll be Improved for the
foreseeable fijture.
The Statement of Flnancial Activltles shows a net decrease in unre5trlcted funds of £1,374 and no
movement in restrlcted funds.
Expendlture on equlpment
The movements In flxed assets during the year are set out in note 7 to the flnancial statements.
ReseNes
The Company had nèt Ilabilltles of £5,656 at 28 February 2018.
Dlrectofs, responslbllltSes statement
The directors are responslble for preparlng the Strate8ic Report, the Dlrectors, Report and the
financlal statements In accordance wSth appllcable law and regulatlons.
Company law requires the dlrectors to prepare fSnanclal statements for each financial year, Under
that law the directors have elected to prepare the financial statements In accordance with United
Kingdom Generally Accepted Accounting Prartlce (United Kingdom Accountlng Standards and
applicable lawl. Under company law the directors must not approve the financlal statement5 unless
they are satisfied that they give a true and falr vlew of the state of the affairs of the Company and
the proflt or10s5 of the Company for that year.
In preparing these financlal statement5, the dlrectors are requlred to..
select sultable accounting policies and then apply them consistently,.
make judgefflent5 and accounting estimates that are reasonable and prudent;
state whether applicable UK Accountlng Standards have been followed, Subject to any material
departure5, disclosed and explained in the financial statement5; and
prepare the financial Statements on the golng concern basi5 unless It is inappropriate to
presume that the Company will continue in business.
ASM

Dwuslsn Envelcpe.ID.. OA229663•2C41M.8836421D4352C452
Carn Medlo
Unuudltedfinon¢lttlstotsmentsAorthe yeurended28 Februury 2018
Poqe 5
Directors, report
The directors are responsible for keeping adequate accounting records that are sufficient to Show
and explain the Company's transactions and disclose with reasonable accuracy at any time the
financial p051tion of the Company and enable them to ensure that the financial statements comply
with the Companies Act 2006. They are also responsible for safeguarding the a55ets of the Company
and hence for taklng reasonable Steps for the prevention and detection of fraud and other
irregularities.
Internal flnancial control
The dlrectors have overall respon5iblllty for ensurin8 that the Company has in place an appropriate
System of controls, financlal and otherwlse, to provide reasonable assurance that:
the Company is operating efficiently and effectlvely,.
its assets are safe8uarded agalnst unauthorised use or disposition;
proper records are maintair7ed and financlal informatlon used wlthln the Company or for
publicatlonls reliable,. and
the Company complles wlth relevant laws and re8ulatlons,
The Company's systems of flnanclal Control Ere deslgned to provide reasonable, but not absolute,
assurance a8ainst materSal mls-statement or loss.
Speelal provlslons relatlng to small slzed companles
Thls report has been prepared in accordance with the speclal prov151ons of Part XV of the Companles
Act 2006 relatlng to small slzed companie5,
y Orderof the Board
OrtuSl0n*ttby'.
ALL L1'cal￿
gOEQF2ZOfr8eF4%...
Nlall Iycathaln
Director
29 November 2018
ASM

Docuslgn Envelopg ID.. OA229663-6A2C41AA-88B6.821D4352C452
Crlrn Medio
Unaudltedflnuncltslstotementslorthe yettrended28 Febr4wry 2018
Pooe 6
Independent Examiner's report to the Directors. of Carn Media
We report to the directors, on our examination of the flnancial statements of Carn Medla for the
year ended 28 February 2018.
Responsibilitles and basis of ￿port
The directorfs of the Company are responsible for the preparation of the financial statements In
accordance with the requirements of the Charitles Act (Northern Ireland) 2008. You are satlsfied that
our charity is not requlred by charity law to be audited and have chosen Instead to have an
independent examination.
We report in respett of our examination of the charlty's financial statements as carried out under
Sectlon 65 of the 2008 Act. In carryin8 Out our examination we have followed the general directiL)n5
by the Charity Comm15sion for Northern Ireland under Sectlon 65191 Ibl of the 2008 Act.
Independent examlner's Statement
We have completed our examlnation and we confirm that no matters have come to our attentlon In
connection wlth our examlnatlon givin8 us cause to belleve that in any mater131 aspect.
l. Accountln8 records were not kept as requlred by wlth Section 63 of the 2008 Act; or
2. The flnanclal statements do not accord wlth those records,. or
3. The Pinanclal statements do not comply wlth the accountlng requirements of the 2008 Act,,
or
4, The financial statements do not comply wlth the applicable requlrements concernlng the
form and contents of accounts set out In the Charltles (Accounts and Reports) Regulation
2008 other than any requirement that the accounts give a 'true and fair, vlew which is not a
matter considered as part of an Independent examlnatlon.
We conflrm that there are no other matters to whlch your attention should be drawn to enable a
proper understanding of the accounts to be reached.
ael McAllister
ASM {Ml Ltd
Chartered Accountants
The Diamond Centre
Market Street
MaEher?felt
29 November 2018
ASM

Oocusign Enwelope ID.. OA229663*A2C41AA-88B6-821D4352C452
Corn Mediu
Unuuditsdfinunclalstrtementsfor the yeurended28 February 2018
Puge 7
Statement of Financial Activities and Statement of Comprehensive Income
Notes
Unrèstrirted
funds
Restrlcted
funds
Total
20
Totsl
2017
IncominB resources
Income from fundln8 bodies
other income
Total In¢omln8 resourcès
31,175
31,175
31,175
31,175
39,055
39,055
Resources expended
Direct cheritable expendlture
Management and adminlstration
Total resouKes expended
14,136
18,413
32,549
14,136
18,413
32,549
13,298
20,199
33,497
Taxatlon
Net movement In funds
Other comprehensive Sncome for the year
Total ¢omprehenslve Income for tha year
11,3741
11,3741
5,558
11,3741
11,374}
5,558
Re¢onclllatlon of movement In funds
At l March 2017
Net movement In funds for the year
At 28 February 2018
14,2821
11,3741
15,6561
14,2821
11,3741
15,6561
19,8401
5,558
14,2821
Net movement In funds
Flxed assets funded vlè dlrert charltable
expendSture
Net movement In funds avallable for
futurè activitles
11,3741
11,3741
5,558
11,3741
IL3741
5,558
All amounts above relate to the continulng operatlons of the Company.
There Is no difference between the net movement In funds for the year stated above and thelr
historlcal cost equivalents,
Thè notes on pages 11 to 15 form part of these financlal statements
ASM

DocuSvJn Envetope ID.. OA2298634A2C41M-88B&821D4352C452
arn Media
Unuuditedllnonclalrtatementsfvrtheyearended28 February 2018
Page 8
Statement of Financial Position
Notes
20
2017
Fixed a55ets
Propertyi plant and equipment
3.576
5,321
Current assets
Cash at bank
724
724
724
724
Credltors: amounts falllnE due within one yeai
9,918
10,214
Net ¢urrent assetsllliab115tlèsl
19,1941
19,4901
Total assets less Current liabllltlès
15,6181
14,1691
Deferred kn¢ome
113
Net assetsllllabllltlesl
15,6561
14,2821
Funds employed
Unrestricted funds
Restrlcted funds
133,2111
27,555
15,6561
131,8371
27,555
14,2821
The dlrectors have taken advantage of the exemptlon conferred by Artlcle 257A of the Companies (Northern
Ireland) Ordèr 1986 not to have these flnanclal Statements audited and conflrm that no notlce ha5 been
deposlted under Artlcle 2578121 of the Companles INorthern Ireland) Order 1986.
The dlrectors acknowledge thelr responslbllltles ftsr ensuring that..
the Company keeps accountlng records which comply wSth Sectlon 386 of the Companles Act 20C6,'
and
the financial Statements glve a true and falr vlew of the state of affairs of the Company a5 Ot 28
February 2018 and of its deflcit for the year then ended In aceordance wlth the requirements of
Section 396. and which otherwise comply with the requlrements of the Companles Art 2W6 relating
to financial statements, so far a5 applicable to the Company.
These flnanclal statements have been prepared in accordance wth the special provisions trf Part XV of the
Companies Art 2006 relating to small slzed companies.
The flnancial statements on pages 7 to 15 were approved and authorised for Issue bythe Board of Direttors o
29 November 2018 and were signed on its behalf bv..
Docu81unodby.'
NAIL LI'CAIQAI
Director
Registratlon Number: N1053949
The notes on pages 11 tts 15 form part of thesefinancial statements
ASM

DoGuSkJn Envelop8 ID.. OA2296834A2C41AA-B8BM21D4352C452
Carn Medl
UnoudltedfJna￿I￿l5tute￿entsI0rthe yeor ended28 Februury 2018
Poge S
Statement of Cash Flows
2018
2017
Net cash knfiow from operatkng activities
352
6,726
Retums on investments and 5ervlcing of flnan¢e
Interest paid
Net cash Inflow/{outflowl for returns on Investments and
servicing of flnan¢e
Taxatlon
Capltal expendlture
Purchase of property, plant and equipment
Net ¢ash outflowfor caplt?l expenditure
16,5011
16,5011
Increa5elldecreasel In cash and cash equlvalents
352
225
Recon¢lllatlon of op¢ratln8 profit to net ¢a$h Inflow from operatlng actlvltles
2018
2017
Surpluslldeflcltl for the year
Depreclatlon on property, plant and equlpmenl
Amortlsatlon of capital grants and deferred Income
Increaselldocreasel in trade credltors
Increase/ldecreasel In other taxatlon and Social securlty
Increase]Idecrèasel in other creditors and accruals
Net cash Inflowlloutflowl from operating actlvltSes
11,3741
1,745
1751
5,558
1,501
1751
87
13451
6,726
3S2
Analysls of changes In net debt
2018
2017
Opening bal&nce
Net cash flow
Closlng balance
14,7371
352
14,3851
14,9621
225
14,7371
Chan8e In
year
2018
2017
Analysls of balan
Cash at bank and in hand
Bank overdraft
724
724
15,1091
15,4611
14,3851 14,7371
352
352
The notes on page$ 11 to 15 form part of these financial statement5
ASM

Docuslgn Etwelcpelo.. ￿2g6634A2C41￿-8ets6-62lD435￿4S2
Corn Medlu
Un¢7udltedfinun¢iolstatementsforthe yeurended28 Febru•ry2018
Poge IG
Statement of Changes In Equity
Share
¢apltal
UnrestrFcted
funds
Restrlrted
funds
Total
At l March 2016
Total comprehen51ve Income for the year
At 28 February 2017
Total comprehenslve Income for the year
At 28 February 2018
137,3951
5,558
131,8371
11,3741
133,2111
27,555
19,8401
5,558
14,2821
11,3741
15,6561
27,555
27,555
The notes on pages 11 to 15 form part of these financial statements
ASM

De¢uSiw Envelope ID.. oA22￿63-6A2¢-4lAA-88BS42lo43s2c452
Carn Medla
Unouditedfinunclalstatementsfortheyearended28 Febmury 2018
Puge 11
Notes to the financlal statements
l. Prlncipal accounting poli¢le5
Carn Media is a Company limited by guarantee incorporated In Northern Ireland.
The Company's flnancial statements have been prepared In compliance with the Flnancial Reporting
Standard applicable in the UK and Republic of Ireland I'FRS 102.1 as it applies to the financlal
statements of the Company for the year ended 28 February 2018.
Bo5is of occountin
The financial statements of Carn Media were approved for Issue by the Board of Dlrectors, on 29
November 2018, The financial statements have been prepared In accordance wlth applicable
accounting standards. The flnancial statements are prepared In sterllng which Is the functional
currency of the Companv.
The financlal statements have been prepared In accordance wlth the recommendations contalned in
the Statement of Recommended Practice I'SORW'I °Accountlng by Charities".
Golng concem
The Company made a deflclt for the year ended 28 February 2018 and, at that date, the Companvs
liabllltles exceeded its assets,
The abillty of the Company to continue as a going concern Is dependent upon contlnued support of
funders, the contlnulng availabillty of banklng facllities and the return to profitability.
The dlrectors consider that the Company will be able to renew its banklng facilitles and no matters
have been drawn to their attentlons to suggest that renewal may not be forthcoming on acceptsble
terms. In addition, the director5 are confident that the Company will return to profitable tradin8.
After maklng enqulrles, the dlrectors have a reasonable expectatlon that the Company has adequate
resources to continue in operatlonal existence for the foreseeable future. Accordingly they contlnue
to adopt the going concern basis in preparing the financlal statements.
Judgement t7nd key sources oAestlm4tion uncertalnty
Preparation of the ftnancial statements requlres management to make slgnificant Judgement5 and
estimates. The items in the financSal statement5 where these judgments and estimates have been
made are summarised below.
ASM

Dacuslgn Envebpa ID.. OA229f63-6A2C41AA-88B8421D4352C452
Carn Mediu
Unouditedflnoncialstutementsfor theyeorended28 Februory 2018
Po9e 12
Notes to the flnancial statements
Property, plant andequlpment
Property, plant and equipment are stated at their purchase cost, net of depreciation and any
provision for impairment.
Depreciation Is calculated so as to write off the cost of tanglble fixed assets. less thelr estlmated
residual values, on a straight Ilne ba515 over the expected useful economic lives of the assets
concerned. The principal annual rates used for this purpose are as follows:
Offlce equipment
25
Key occountlnqpollcles
Income
All Incomlng resources are reco8n15ed in the statement of Financial Activlties when the condltlons
for receipt have been met and there is reasonable a55uran¢e of receipt. When an Incomin8 resource
relating to a future accounting period Ss received, the amount Is treated as deferred income and it Is
Included wlthln credltors In the balance sheet.
Capltolqrunts
Prlor to adoption of the SORP, grants speclfScally for capltal expendlture were credltecl to a deferred
credit account and released to income and expendlture over the expected useful lives of the related
assets.
In accordance with the SORP, capltal grants receivable are recognised immediately In the Statement
of Flnancial Activities unless they are restrlcted to future accountlng perlods or may become
repoyable under the terms attached.
Funds
Carn Medla has various type5 of funds for whlch It is responsible and which require separate
disdosure. These are as follow5:
restricted Income fund5: income which is earmarked by the donor for speciflc
purposes. Such purposes are within the overall aims of the Company,. and
unrestricted funds.. funds which are expendable at the discretion of the dlrectors in
furtherance of the objects of the Company. Such funds may be held in order to
finance capltal investment and working capital.
Manaqement und odmlntstrotion costs
Management and administration costs relate to the costs of running the Company such as the costs
of meetings, accountlng and statutory compliance and include any costs which cannot be specifically
Identified to another expenditure classification.
ASM

DwS¢on Env&bpe ID.. OA2296634A2C41M-88Bfr821D4352C452
Carn Medio
Unoudited
nanuolstotementsforthe yeor ended28 Februtsry2018
Page 13
Notes to the financial statements
Deferred income
Deferred Income relates to incoming resources in the current year which are specifically to fund
actlvities in future accountlng periods.
2. Analysis of total resources expended
stsff ¢ost5
Depreclatlon
Other costs
Total
2018
Total
2017
Dlrect charltable eKpenditure
Management and
adminlstratlon
1,745
12,391
14,136
13,298
17,051
17,051
1,362
13,753
18,413
32,549
20,199
33,497
1,745
3. Dlrectors, emoluments
The directors recelved no emoluments during the year.
4. Employee Informatlon
The average number of persons lincludlng executlve dlrectorsl employed by the Company during the
year was..
2018
Numb8r
2017
Number
By a¢tlvfty
Admlnistration
Productlon
2018
2017
stsff ¢05ts (for the above personsl
Wages and salaries
Social security costs
16,814
243
17,OS7
17,369
122
17,491
5. Net movement in funds
2018
2017
Net movement In funds is stated aftercharging:
A¢count8nts' remuneration
Depreciation charge for the year..
Propety, plant and equSpment- owned
870
870
1,745
1,501
And after crediting:
Capital grant amortlsation
75
75
ASM

Docuslgn Envalope ID: I)A229063-6A2C.41AA-88B6421D4352C452
Curn Medffl
Unuuditedfinanclolstotementsfvr the yeorended28 Februory 2018
Poge 14
Notes to the financial statements
6. Taxation
No provislon for taxation is required as the Company has charitable status approved by HM Revenue
& Custom5.
7. Property, plant and equipment
Offl¢e
equlpment
Total
Cost
At l March 2017
Additions
Dlsposals
At 28 February 2018
32,270
32,27CI
32,270
32,270
Depre¢latlon
At l March 2017
Charge forthe yeai
Disposals
At 28 February 2018
26,949
1,745
26,949
1,745
28,694
28,694
Net book value
At 28 Fèbruary 2018
3,576
3,576
At 28 February 2017
5,321
5,321
8. Credltors: amounts falllng due wlthln one year
2018
2017
Trade crethtors
Bank overdraft
Payroll taxes
Accruals
Other credltors
870
5,109
190
2,026
1,723
9,918
The bank overdraft is secured by a letter of guarantee from the Company directors.
870
5,461
134
2,026
1,723
10,214
ASM

Dwuslw Envelope ID.. Oh229663.6A2C-41M488e-821D4352C452
Curn Medla
Unauditedfinonclalstotemert5fortheyearended28 February 2018
Puge IS
Notes to the financial statements
9. Deferred income
Capltal grants
tost
At l March 2017
Grants recelved durSng the year
At 28 February 2018
300
300
Amortlsatlon
At l March 2017
Amortlsatlon for the year
At 28 February 2018
187
75
262
Net book valu¢
At 28 February 2018
38
At 28 February 2017
188
10. Contlngent Ilabllltles
A contlngent liabillty exlsts to repay grants recelved should certain conditlons not be fulfilled by the
Company. In the oplnlon of the director5 the term5 of the letters of offer have been complSed with
and a liabllity Is not expected to arlse.
There were no other contlngent Ilabilitles at 28 February 2018 or at 28 February 2017.
11. Capltal commltments
The Company had no capltal commitments at 28 February 2018 or at 28 February 2017.
12. Sha re capltal
The Company is a company Ilmited by a guarantee and It does not have a Share capital.
Every director being a member of the Executive Committee undertakes to contribute to the assets of
the Company. in the event of same belng wound up while he Is a member, or withln one year after
he ceas@s to be a member, for payment of det)ts and Ilabilitles of the Company contracted before he
ceases to be a member, and of the costs, charges and expenses of winding up, and for the
adjustment of the rights of the contrlbutors among themselves, such amount as may be required not
exceeding £1.00.
13. Ultimate controlling party
The Company has no controlling party-
ASM