COMPANY REGISTRATION NUMBER: N1021758 CHARITY REGISTRATION NUMBER: 102947 Replay Productions Limited Company Limited by Guarantee Financial Statements 31 March 2024 Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN
Replay Productions Limited Company Limited by Guarantse Financial Statements Year ended 31 March 2024 Page Trustees. annual report (incorporating the director's report) Independent auditor's report to the members 12 Statement of financial activities (including income and expenditure account) 16 Statement of financial position 17 Notes to the financial statements 19
Replay Productions Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 March 2024 The trustees, who are also the directors for the purposes of company law, present their report and the financial statements of the charity for the year ended 31 March 2024. Reference and administrdtive details Registered charity name Replay Productions Limited Charity registration number 102947 Company registration number N1021758 Principal office and registered East Belfast NeOrk Centre office 55 Templemore Avenue Belfast BT5 4FP The trustees M Baird E Copland C Mccarthy P Jordan- Secretary E McKenna- Chair L McKeown - Treasurer L Hughes S Harper Auditor Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Street South Belfast BT2 8DN Structure, governance and management Key managementpersonnel Chief Executive Officer Finance and Operations Manager Artislic Director Director of Inclusive Thealre Brian Mullan Hayley McBride Janice Kernoghan-Reid Andrew Stanford Goveming Document Replay Theatre Company is a company lirnited by guarantee governed by its Memorandum and Articles of Association dated 04th November 2014. Replay Theatre Company is a registered charity with the Charity Commission for Northern Ireland.
Replay Productions Limited Company Limited by Guarantse Trustees. Annual Report (Incorporating the Director's Report) (contlnuedj Year ended 31 March 2024 Structurej governance and management (continued) Appointment of trustees The Chairman and the Trustees recruit and select new Trustees as needed. New Trustees are recruited on the relevance of their professional skills, and their potential to be able lo make a helpful Contribution to the governance of the charity. As part of the recruitment process. they are made aware of a Trustees, legal obligations under charity and company law, Ihe content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. Once the potential new Trustee has agreed to be considered for appointment to the role. the Trustees meet to review and to vote on the candidates. suitability for appointment. If there is unanimous agreement. their names are then proposed for appointment, to the voting Members of the Company at the next Annual General Meeling. Should there be a gap in skills a new member may be co-opled by current Trustees should an AGM be some time away Objectives and activities Replay Theatre Company, as the company is more commonly known, has been making theatre adventures for younger audiences since 1988. We develop and tailor our work to engage and inspire four key audiences under the age of 19.. from liny babies in our early years programme, to primary school age children of all abilities and backgrounds, to teenagers journeying into adulthood, and children and young people with diverse, complex, and often multiple disabilities. In shaping our objectives for the year and planning our activities, the trustees have Considered the Charily Commission's guidance on public benefit. Our Vision Enriching the lives of young audiences in Northern Ireland and beyond through valued, world cla55 theatre. OurPury>ose Replay's purpose is to create world class theatre especially for young audiences. because it is every child's human right lo have their lives enriched through the arts Our Values Excellence Artistic Excellence- We slrive to ensure that our creativity is underpinned by quality and excellence through the delivery of a challenging and leading-edge programme of work. Operational Excellen¢e- We strive to maintain the highest standards of efficiency in all areas of company business. Working effectively within the company's resources, we aim to deliver the highest standards in projects. services. and management practices, and to adhere lo best practice standards in the governance and management of the company. Inclusion We are committed lo exploring and developing a broad portfolio of strategies to ensure our ¢ore elhos of inclusion is at the very heart of everything we do, supporting the right of every child and young person to access high quality artistic activities.
Replay Productions Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) {contlnued) Year ended 31 March 2024 Objectives and activities (conllnued) Innovatlon We work consistently to incorporate new insights and best pra¢tice inlo our creative programme. We create opportunities to advan¢e our company's skills and expertise, ensuring that innovative, world-class. cutting-edge theatre for young audiences is developed on an ongoing and suslainable basis in Northern Ireland. Integrlty We value our artists, our audiences, and our delivery partners and funders. We are committed to working transparenlly and wilh respect for the investments of time, skills, experience, money, and other resources that make our important work possible. Sustainability We are determined lo maximise the benefit that can be drawn from the environmental and financial resources we use to develop and deliver our creative productions, and to reduce waste and inefficiencies across all of our activities. As part of this commitment, we are passionate about ensuring that Northern Ireland's children continue to have access to the high-quality theatre experiences that we deliver, long into the future. Achievements and perforniance 2023 - 2024 Programme of Activities Replay Thealre Company has enjoyed another successful year of delivering theatre experiences for young people right across Northern Ireland, with four productions being staged across the country and numerous engagement work through the company's creative development programmes during the 2023-24 year. Following last summerfs new approach to the company's summer scheme work with speGial schools across Northern Ireland independenl artist Brona Jackson was welcomed back lo remount her show WILD ONES, a show for young audiences with PMLD. with further developments including increasing the cast size and the number of beneficiaries who could receive the show. This show toured across Northern Ireland for 4 weeks and has led to the development of the Replay Artist Development Fellowship. Following a public call for submissions for ideas from artists who are interested in working to deliver theatre experiences for young audiences with additional needs the company appointed local artist Shannen MCNe1 as the first Replay Fellow. Shannen spent some time shadowing the team delivering WILD ONES spending the following year developing her idea with mentorship from the company's Director of Inclusive Theatre.
Replay Productions Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (Continued) Year ended 31 March 2024 MIRRORBALL, a musical show designed for post-primary audiences also premiered al the Belfast Children's Festival. 11 is based on the life experiences of Nl theatre maker, performer and drag queen Matthew Cavan (drag name Cherrie Ontop) received its premiere at the Belfast children's Festival in March 2023, with a run so successful it was invited to return to the Lyric Theatre's main stage for a longer run in the autumn of 2023. This marked change in direction for the company seeing this type ofwork remain in a larger capacity venue for a longer period rather than touring around Northern Ireland's regional venues. This was an opportunity for the company to embed some of Ihe inclusion slrategies utilised previously with 100 % of the performances wither live captioned or with BSL provision, a strategy the company is keen to continue to develop going forward. BEST SHOW FO CHILDREN AND YOUNG PEOPLE UK THEATRE AWARDS MIRRORBALL received a 5 star review in the Irish Times and was nominated for the UK Theatre Awards "Best show for children and young people" NOMINfE 2023 Also. in the autumn of 2023 the company was finally able to reslage its first how for young autistic andlor neurodivergent audiences TRIBE. This show previously toured in 2019 and a retour is in line wilh the company's sustainability policy, however due lo restrictions in previous years because of COVID19 this was the first opportunity to bring the show back. The show. taking up residence in each school or venue for 1 week, is performed to one young audience member at a time, providing young people who are normally unable to benefil from thealre experiences a beautiful, immersive trip into another world. TRIBE, while initially earmarked for a 4-week lour was extended to 6 weeks thanks lo the Friends of Parkview Charity in Lisburn and support from The MAC in Belfast. Over 25 schools expressed a desire to have the show visit, with those who did not receive the show being added to a wailing lisl for the next show for young autistic andlor neurodivergent HOLLOW was indeed that next show. Premiering at the Belfast Children's Festival in partnership with The MAC this show compleled a short run as part of the Festival with a new tour scheduled for early in the following financial year. HOLLOW is non-speaking inclusive theatre adventure inspired by the mysteries and sensations of sublerranean exploration. It is the story of Ihree living, breathing ogs who depend on each other's unique abilities to maintain and operate a great perpetual machine. What might happen if our cogs stop spinning...? -11 cliiiruis arKI eiilrances even as il gertly slimulaies" BKJlisli [alle Guide HOLLOW, building on the practice of creating immersive theatre experiences, was also performed to one young autlStic andlor neurodivergent audience member at a time with their chosen companion. audiences
Replay Productions Limited Company Limited by Guarantee Trustees. Annual Report (Incorporating the Director's Report) (eontinuedj Year ended 31 March 2024 Partnership Working Belfast Children's Festival & TYANI In 2023-24 the company conlinued in its commitment to building the infrastructure and raising the profile of theatre for young audiences and the arts sector in general. Throughout the year Replay was represented on multiple national and international festivals ensuring ihat there was representation of the company and the TYANI sector. Replay premiered HOLLOW shows at the Belfast Children's Festival in 2024 with work programmed for the festival for at leasl the next 3 years meetin9 the company's commitment to premiering new work for Belfast audiences. Replay also continues to mentor a number of individual artists on an ongoing basis, several of whom have since (with Replay's support) successfully applied for ACNI Support for the Individual Artist Programme Artist Career Enhancement Scheme Awards. The introduction of the Replay Artist Development Fellowship in 2023 will see the first production created by the inaugural Fellow touring in 2024. As part of the company's ongoing commitment to the UPI Programme the Director of Inclusive Theatre has been delivering training support both at home and abroad, including training visits to Norway and artist mentorship in Malta. assisting in the production of a new inclusive production on the Island. The company has also forged a relationship with Estrad Norr and Folkteatern Gavleborg in Sweden and is exploring a future production development with a view to a new show for young audiences with complex needs coming to Northem Ireland following a Swedish lour in 2026. The company has continued to deepen its working partnerships with a number of venues both in Belfast and regionally with Ihe key aim of bringing theatre for young audiences to as many young people across Northern Ireland as New Work Development Replay will continue the development of new works in 24125 Real & Magic (Working Title) Replay's next show for early years, Real & Magi¢ (working title) is a Celebration of opposites - up and down. fast and slow. close and far away, yes and no. Designed for little ones between 2 and 4 who might consider themselves big now, Real & Magic celebrates children finding their voice, and grown-ups losing Iheir sanity. Created in consultation with the staff and clients of the Developmental Programme for 2-3 year-olds at East Belfast Surestart. Real & Magic supports children's natural learning at this age while encouraging curiosity and physical exploration of the performance space. This show will have its 2nd development phase in 2024125 with a view to it premiering winler 2025. possible.
Replay Productions Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (continuedj Year ended 31 March 2024 AGhievements and performance (continued) Velveteen Rabbit Replay's new show is an original musical adapted from the children's classic The Velveteen Rabbit by Margery Williams. A warm, noslalgic and tender tale of a boy, his favourite toy and how being loved can make us real. With a script by celebrated writer Jan Carson and music from Duke Special, this show brings together the very best of Northern Irish talent in a festive theatrical feasl for all the family. "Generally, by the time you are real, most of your hair has been loved off, and your eyes drop oul and you get loose in Ihe joints and very shabby. But these things don't matter at all, because once you are Real you can't be ugly, expt to people who don't undersland." This project is being designed specifically for young audiences and family audientss with an optimal children's age range of 5-12. This show has now been confirmed with a 2 week run at the Lyric Theatre in March 2025. New Post Primary Production The company will develop a new show exploring issues around sexual violence againsl young women over the next couple of years. The problem of violence (and specifically sexual violence) against girls and women in Northern Ireland is nol going away, and terrifyingly. according to the 'lt's Just at Happens, report from QUB is often seen as a normal part of growing up. Replay believes that this play is an excellent opportunily to address some of the related issues in front of the very people who could be experiencing it. In 2023 Replay Theatre Company was shortlisted for the National Lottery's People's Project Award, coming in as runner up for its groundbreaking UPI Programme of inclusive productions A special word of thanks Replay Theatre Company is always grateful for the financial support it receives from its funders. This has been another very challenging year due to the ongoing cost of living crisis and the increase in costs of making this work and the Board would like to take this opportunity to specifically thank its funders for the great understanding and flexibility they have shown and additional support provided by some.
Replay Productions Limited Company Limited by Guarantse Trustees, Annual Report (Incorporating the Director's Report) (contlnued) Year ended 31 March 2024 Financial review Replay's income for the period amounted to £412.819 <2023.. £406.618) with expenditure of £410,890 (2023- £383,121) leaving a surplus of £1.929. This added to reserves brought forward leaves an unrestricted fund balance of £117.815 and a restricted fund balance of £23,163 at 31 st March 2024. Reserves policy andgoing concern Reserves are needed to bridge the timing gap between spending and receiving of income and to cover unplanned temporary shortfalls in income should they arise. Holding adequate reserves safeguards the provision of our seNices in Ihe event of unexpected signifiGant financial pressures. The trustees consider Ihat the ideal level of reserves would be between three to six months expenditure which for the year ended 31 March 2024 would be between £102,723 and £205,445. Unrestricted reseNes freely available to spend. therefore excluding fixed assets, restricted reselves and designated reserves amounled to £91,364 which is below target level, however the trustees believe this represents a sufficient level of reserve to ensure that the going concem assumption is appropriate. Risk management The Replay Board meets on a quarterly basis where they examine the current strategic risks faced by the Company. Risks are given a red-amber-green status depending upon both the likelihood of the risk materialising and the severity of the outcome of such an instance. Actions are agreed at these meetings to mitigate against these risks. Governance & Management Replay recognises the importance of good govemance and management in achieving artistic aims and ensuring the impact of the company's work for beneficiaries. Replay has developed a 5-year strategic plan running from 2019-2024 in which targets for each year are operationalised through an annual oulcome delivery planned which is monitored on an ongoing basis by senior management and the Board. In 2023-2024 Ihe company continued to slrive to reach the highest levels of best praclice. Board Chief Executive Officer Artlstle Dlrector Finance & Operations M8n8ger Dlrector of Inclusive Theatre Research & Evaluation Offlcer
Replay Productions Limited Company Limited by Guarantse Trustses. Annual Report (Incorporating the Director's Report) fcontinue(lJ Year ended 31 March 2024 Replay has a number of sub-committees to aid in the furtherance of its objectives and provide good governance.. 1. Audit and Finance Subcommittee 2. Artistic Programming and Slralegy Subcommittee These subcommittees typically meet separalely to the main Board meetings and report back to the main board meetings any concerns or achievements. Creative Pmgramme 202*25 The 2024-2025 programme will continue to engage children and young people from ages 0-19 years through a diverse and exciting range of productions, workshops and initiatives. The programme has been drawn up in collaboration between board and staff and takes into consideration Ihe needs of each of Replay's young audiences alongside wider sector trends and local priorities. Replay's ongoing consultation with audien$ continues to inform planning and delivery of our programme. In 2024-2025 Replay will work in partnership with new and existing community and slatutory organisalions and will deliver of a number of major-projects to engage ¢hildren from the most disadvantsged communities across Belfast. Public Benefft Replay's purpose is to provide accessible professional theatre and arts experiences for children and young people up to the age of 19, primarily in Northern Ireland and to promote creativity in the lives of children and young people. The benefit of our work is to provide accessible professional thealre and arts experiences for children and young people ensuring positive impacts on confidence, self-esleem, personal development (including understanding themselves and others better), social development (including potential to challenge cullural prejudices and societal differenGes), and emotional development (including the development of empathy and emotional IQ). In addition the benefits of promoting creativity in the lives of children and young people means that engaging in creative activities can help develop intrinsic human qualities, such as Gommunication. expression, identity. culture and imagination, helping children and young people to shape their individual, community and global identity.
Replay Productions Limited Company Limited by Guarantee Trustees, Annual Report (Incorporating the Director's Report) (conrlnued) Year ended 31 March 2024 Trustees, responsibilities statement The trustees. who are also direclors for the purposes of company law, are responsible for preparing the trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practi). Company law requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and the incoming resources and application of resources, including the income and expenditure. for that period. In preparing these financial statements. the trustees are required to.. select suitable accounting policies and then apply them consistentty., observe the methods and principles in the applicable Charities SORP., make judgments and accounting estimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with Ihe Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The charity truslees (who are also the directors of Replay Productions Ltd for the purposes of company law) are responsible for preparing the Irustees, annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare accounts for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and the income and expenditure of the charity for that period. In preparing these accounts, the Irustees are required to- select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP: make judgements and accounting estimates that are reasonable and prudent; state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
Replay Productions Limited Company Limited by Guarantee Trustees. Annual Report Ilncorporating the Director's Report) {contlnued) Year ended 31 March 2024 The trustees are responsible for keeping adequate accounting records thal are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial stalernents comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the ¢harity and hen for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislalion in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Auditor Each of the persons who is a trustee at the date of approval of this report confirms that- so far as each trustee is aware. there is no relevant audit information of which the charity's auditor is unaware., and each trustee has taken all sleps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's auditor is aware of that information. Small company provisions This report has been prepared in accordance with the provisions applie2ble to companies entitled to the small companies exemption. The trustees, annual report was approved on 3 September 2024 and signed on behalf of the board of trustees by.. E McKenna- Chair Trustee io
Replay Productions Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Replay Productions Limited Year ended 31 March 2024 Opinion We have audited the financial statements of Replay Productions Limited (the 'chartty') for the year ended 31 March 2024 which ¢omprise Ihe statement of financial activities (including income and expenditure account), statement of financial position and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Slandards. including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Ac¢epted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the stale of the charity's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi. have been prepared in accordan with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements section of our report. We are independenl of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and the provisions available for small entities. in the circumstances set out below, 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. In common with many other businesses of our size and nature we use our auditors to assist with the preparation of the financial statements. Conclusions relating to going concern In auditing the financial statements, we have Gonduded that the trustees, use of the going concern basis of accounting in the preparation of Ihe financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating lo events or conditions that, individually or collectively, may cast significant doubt on the charity's abilily to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. 11
Replay Productions Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Replay Productions Limited (continued) Year ended 31 March 2024 Other inforniation The other information comprises the information included in the annual report, olher Ihan the financial statements and our auditor's report Ihereon. The trustees are responsible for Ihe other information. Our opinion on the financial stalements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do nol express any form of assurance conclusion thereon. In connection with our audil of the financial statements, our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial slatemenls or a material misstatement of the other information. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the trustees, report for the financial year for which the financial statements are prepared is consistent with the financial statements., and the trustees, report has been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exception In the light of the knowledge and understanding of the charity and ils environment obtained in the course of the audit. we have not identified material misstatements in the trustees, report. We have nolhing to report in respect of the following matters in relation to which the Companies Acl 2006 requires us to report to you if. in our opinion: adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made.. or we have not received all the information and explanations we require for our audit; or the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies, exemptions in preparing the dire¢tors' report and from the requirement to prepare a strategic report. 12
Replay Productions Limited Company Limited by Guarantee Independent Auditorfs Report to the Members of Replay Productions Limited (continued) Year ended 31 March 2024 Responsibilities of trustees As explained more fully in the trustees, responsibilities statement, the trustees (who are also the direclors for the purposes of company law) are responsible for the preparation of the financial statemenls and for being satisfied that they give a true and fair view. and for such inlemal control as the trustees determine is necessary lo enable the preparation of financial statements thal are free from material misstatement, whelher due to fraud or error. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK). Those standards require us to comply with the Financial Reporting Council's IFRC's> Ethical Standard for Audilors.. in the circumstances sel out in nole 24 to the financial statements. In preparing the financial statements, the trustees are responsible for assèssing the chartty's ability to continue as a going concern, disclosing, as applicable. matters related lo going concern and using the going conrn basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic allemative but to do so. Auditorfs responsibilities for the audit of the financial ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misslatement, whether due to fraud or error. and to issue an audilorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but is nol a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence Ihe economic decisions of usérs taken on the basis of these financial statements. IegUlarItIes. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are Capable of detecting irregularities, including fraud is detailed below: In identifying and assessing risks of material misstatement in respect of irregularities. including fraud and non-compliance with laws and regulations, we considered the following.. the nature of the industry and sector, control environment and business performance including the design of the remuneration policies, key drivers for directors, remuneration. bonus levels and performance targets- results of our enquiries of management about their own identification and assessment of the risks of irregularities: any matters we idenlified having obtained and reviewed do¢umenlalion of their policies and procedures relating to.. identifying, evaluating and complying with laws and regulations and whether management were aware of any instances of non-compliance.. detecting and responding to the risks of fraud and whether management have knowledge of any actual, suspected or alleged fraud- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations. the matters discussed among the audit engagement team including significant component audit teams and relevant internal specialists, including tax and valuations specialists regarding how and where fraud might occur in the financial statements and any potential indicalors of fraud. 13
Replay Productions Limited Company Limited by Guarantee Independent Auditor's Report to the Members of Replay Productions Limited (contlnued) Year ended 31 March 2024 As a result of these procedures, we considered the opportunities and incentives that may exist within the organisalion for fraud and identified the greatest potential for fraud. In common with all audits under ISAS (UK), we are also required to perform specific procedures to respond to the risk of management override. We also obtained an understanding of the legal and regulatory frameworks in operation, focusing on provisions of those laws and regulations that had a direct effect on Ihe determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included ongoing compliance with the UK Companies Act and lax legislation. In addition. we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but cornpliance with which may be fundamental for their ability to operate or lo avoid a material penalty- As part of an audit in accordance with ISAS (UK), we exercise professional judgment and maintain professional scepticism throughout the audil. We also-. Identify and assess the risks of material misslalemenl of the financial slatemenls. whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstalement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevanl to the audit in order to design audit procedures that are appropriate in the circumstsnces, but not for the purpose of expressing an opinion on the effectiveness of the intemal control. Evaluate the appropriateness of accounling policies used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropiialeness of the Irustees, use of the going concern basis of accounling and, based on the audit evidence obtained. whether a material uncertainty exists relaled to events or conditions that may cast significant doubt on the charity's ability to continue as a going concern. If we conclude that a material uncertainty exisls. we are required to draw attention in our auditor's report to the related disclosures in the financial statements or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit eviden obtained up to the date of our auditorfs report. However. future events or conditions may ¢ause the charity to cease to continue as a going concern. Evaluate the overall presentation, structure and content of the financial statements. including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged wtth governance regarding, among other matters. the planned scope and liming of the audit and significanl audit findings, including any significant deficiencies in internal control that we identify during our audit. 14
Replay Productions Limited Company Limited by Guarantee Independent Auditorfs Report to the Members of Replay Productions Limited (contlnuedj Year ended 31 March 2024 Use of our report This report is made solely to Ihe charity's members, as a body. in accordance wilh Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. Paul Dolan FCA (Senior Slatutory Auditor) For and on behalf of Finegan Gibson Ltd Chartered accountants & statutory auditor Causeway Tower 9 James Slreel Soulh Belfast BT2 8DN 3 September 2024 15
Replay Productions Limited Company Limited by Guarantee Statement of Financial Activities (including income and expenditure account) Year ended 31 March 2024 2024 Restricted funds Total funds Total funds 2023 Unrestricted funds Note Income and endowments Donations and legacies Charitable activities Investment income Other income 392 132,891 392 365,143 44 47,240 629 370.209 232,252 47,240 35,777 Total income 180.567 232,252 412,819 406.618 Expenditure Expenditure on charitable activities Total expenditure 138,205 272,685 410,890 383,121 138,205 272,685 410,890 383.121 Net income 42,362 (40,433) 1,929 23,497 Transfers between funds (29,716) 29,716 Net movement in funds 12,646 (10,717) 1.929 23.497 Reconciliation of funds Total funds brought fotward Total funds carried forward 105,169 33,880 139,049 115,552 117,815 23,163 140.978 139.049 The statement of financial activities includes all gains and losses recognised in Ihe year. All income and expenditure derive from continuing activities. The notes on pages 18 to 29 form part of these financial statements. 16
Replay Productions Limited Company Limited by Guarantse Statement of Financial Position 31 March 2024 2024 2023 Note Fixed assets Tangible fixed assets 15 26.451 30,764 Current assets Debtors Cash at bank and in hand 16 14,886 120.500 48,395 80,000 135.386 128,395 Creditors: amounts falling due within one year Net current assets 17 20,859 20,110 114,527 140.978 108,285 Total assets less current liabilities 139,049 139,049 Net assets 140,978 Funds of the charity Restricled funds Unrestricted funds 23,163 117,815 33,880 105.169 Total charity funds 21 140,978 139.049 These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies, regime. These financial statements were approved by the board of trustees and authorised for issue on 3 September 2024, and are signed on behalf of the board by: E McKenna- Chair Trustee The notes on pages 18 to 29 fom part of these financial statements. 17
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Ststements Year ended 31 March 2024 General inforniation The charity is a public benefrt entity and a private company limited by guarantee, registered in Northern Ireland and a regislered charity in Northern Ireland. The address of the registered offi is East Belfast Nelwork Centre, 55 Templemore Avenue, Belfast, BT5 4FP. Statement of compliance These financial stalements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,. the Stalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (Charities SORP (FRS 102)) and the Companies Act 2006. Accounting policies Basls of preparation The financial stalements have been prepared on the historical cost basis, as modified by the revaluation of rtain financial assels and liabilities and investment properties measured at fair value through income or expenditure. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptions The entity satisfies the criteria of being a qualifying entiiy as defined in FRS 102. As such, advantage has been taken of the following disclosure exemptions available under paragraph 1.12 ofFRS 102= a) No cash flow statement has been presented for the ¢ompany.(b) Disclosures in respect of financial instruments have not been presented. Judgements and key sources of estlmation uncertainty The preparation of the financial statements requires management to make judgements, estimates and assumptions Ihat affeot the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expeclations of future events that are believed to be reasonable under the CircumstanS. 18
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Statements (continutdj Year ended 31 March 2024 Accounting policies {c¢nlinued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unreslricted funds earmarked by the trustees for particular future project or commitment. Restricted funds are subjected lo restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or endowment funds. Incoming resoUe5 All incoming resources are included in the slatement of financial activities when entitlement has passed to the charity.. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to Ihe gift. receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless Ihis is impractical lo measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for Ihe contribulion of general volunteers. income from contracts for the supply of services is recognised with the delivery of the contracled service_ This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricled. 19
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 Accounting policies (continued) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which il relates.. expenditure on raising funds includes the costs of all fundraising activities, events. non-charilable Irading aclivilies, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further ils charitable aims for the benefit of its beneficiaries, including those support costs and costs relating lo the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable. justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost. and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation. is recognised in other recognised gains and losses, unless il reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial aclivities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in olher recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities. Depreciation Depre¢iation 15 calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of Ihat asset as follows- Equipment 200h straight line Impairment of fixed assets A review for indicators of impairment is carried out at ea¢h reporting date. with the recoverable amount being estimated where su¢h indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal al each reporting date. 20
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Statements {continuedJ Year ended 31 March 2024 Accounting policies {conUnuedJ Impaimient of fixed assets (continued) For the purposes of impairment testing, when it is not possible lo estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amounl of the cash%enerating unil to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assels or groups of assets. For impairment testing of goodwill. the goodwill acquired in a business combination is, from the acquisition date. allocated lo each of the cash-generating units Ihat are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units. Government grants Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised unlil there is reasonable assurance that the charity will comply with the conditions atta¢hing to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. ere grants received are prior to satisfying the revenue recognition crileria. they are recognised as a Defined contribution plans Contributions to defined contribution plans are recognised as an expense in the period in which the related seNice is provided. Prepaid contributions are recognised as an assel to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contribulions are nol expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related servi. the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as an expense in the period in which it arises. Limited by guarantee Replay Theatre Company is a company limited by guarantee governed by its Memorandum and Articles of Association dated. Replay Theatre Company is a registered charity with the Charity Commission for Northern Ireland. Replay Theatre Company is a membership organisation wilh currently 20 members. each of whom agrees to contribute £5 in the event of the charity winding 21
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Statements (¢ontinuedJ Year ended 31 March 2024 Donations and legacies Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Donations Donations 392 392 629 629 Charitable activities Unrestricted Funds Restricted Total Funds Funds 2024 Arts & Business Arts Council - core funding Arts Council - project funding Belfast City Council Children in Need Fees, tickets and programmes Halifax Foundalion Paul Hamlyn Foundation (2021-2024 Grant) Paul Hamlyn Foundation (2021-2024 Grant) The People's Project Garfield Weston Arts Council- Equipment Funds Ulster Garden Villages Foyle Foundation 1,788 1,788 89.330 49.845 28,512 36,263 43,561 89.330 49.845 28,512 36,263 43,561 72.327 10,000 25,000 8,517 72.327 10,000 25,000 8,517 132,891 232,252 365,143 Unrestricted Funds Restricted Total Funds Fund5 2023 Arts & Business Arts Council - core funding Arts Council - project funding Belfast City Council Children in Need Fees, tickets and programmes Halifax Foundation Paul Hamlyn Foundalion {2021-2024 Grant) Paul Hamlyn Foundation {2021-2024 Grant) The People's Project Garfield Weslon Arts Council- Equipment Funds Ulster Garden Villages Foyle Foundation 15,000 15.000 86.479 49.845 28.512 24,561 25,713 8.500 1.373 73.700 86,479 49,845 28,512 24,561 25,713 8,500 1.373 73.700 25,000 5,526 6,000 20,000 25,000 5.526 6.000 20.000 140,704 229,505 370.209 22
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Statements (eontinuedj Year ended 31 March 2024 Investment income Unrestricted Total Funds Unrestricted Total Funds Funds 2024 Funds 2023 Bank interest receivable Other income unstrICted Total Funds unstrICted Total Funds Funds 2024 Funds 2023 HMRC Insuran Claim 43.446 3.794 43,446 3.794 35,777 35,777 47.240 47,240 35,777 35,777 Expenditure on charitable activities by activity type Activities undertaken directly Support costs Total funds 2024 Total fund 2023 Charitable activity Governance costs 389.717 15,262 5,911 404,979 5.911 375,817 7,304 389,717 21,173 410.890 383,121 10. Analysis of support costs Analysis of support costs Total 2024 Total 2023 Staff costs Premises Communications and IT Governance cosls 13,405 573 1,284 5,911 13,405 573 1.284 5.911 12,696 573 819 7,304 21.173 21,173 21.392 11. Net Income Net income is stated after chargingl(crediting): 2024 2023 Depreciation of tangible fixed assets 14,223 12.948 23
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Statements (Continued) Year ended 31 March 2024 12. Auditors remuneration 2024 2023 Fees payable for the audit of the financial statements 3,465 3,276 13. Staff costs The total staff costs and employee benefits for the reporting period are analysed as follows.. 2024 2023 Wages and salaries Social security costs Employer contributions to pension plans 154,213 9,725 3,630 167,568 146,275 9,087 3,336 158,698 The average head count of employees during the year was 5 (2023: 5). The average number of full-time equivalent employees during the year is analysed as follows.. 2024 No. 2023 No. Employees No employee received employee benefits of more than £60,000 during the year (2023: Nill. Key Management Personnel Key management personnel include all persons that have aulhority and responsibilrty for planning. directing and conlrolling the activities of the charity. The tolal compensation paid to key management personnel for services provided to the Gharity was £118.168 {2023-.£111,550). 14. Trustee remuneration and expenses The charity trustees were not paid or received any other benefits from employment with the Charity in the year {2023= £nil). No charity trustees were reimbursed for travel expenses during the year (2023: £80). No charity trustee received paymenl for professional or other services supplies to the charity (2023: £nil). 24
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Ststements (continued) Year ended 31 March 2024 16. Tangible fixed assets Equlpment Cost At 1 April 2023 Addilions Disposals At 31 March 2024 112,472 12,267 (5,893) 118,846 Depreciation At 1 April 2023 Charge for the year Disposals At 31 March 2024 81,708 14.223 (3,536) 92,395 Carying amount At 31 March 2024 26,451 At 31 March 2023 30.764 16. Debtors 2024 2023 Trade debtors Prepayments and accrued income Other debtors 13,903 983 10,205 1,040 37,150 14.886 48,395 17. Creditors: amounts falllng due within one year 2024 2023 Bank loans and overdrafts Trade creditors Accruals and deferred income Social security and other taxes 1.994 1.938 12,663 4,264 4,827 4,759 6,747 3.777 20,859 20.110 18. Deferred income 2024 2023 At 1 April 2023 Amount released to income Amount deferred in year At 31 March 2024 24.061 (24.061) 9.516 9,516 25
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 19. Pensions and other post retirement benefits Defined contribution plans The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £3.630 (2023.. £3,336). 20. Analysls of charitsble funds Unrestricted funds At 31 March 202 At 1 April 2023 Income Expenditure Transfers General funds 105,169 180,567 (138.205) (29,716) 117.815 At 31 March 202 At 1 April 2022 Income Expenditure Transfers General funds 77.640 177,113 (162,786) 13,202 105,169 26
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Statements (continued) Year ended 31 March 2024 20. Analysis of charltable funds (continued) Restri¢ted funds At 1 April 2023 At 31 March 2024 Income Expenditure Transfers UP- General Core UP- Prism Untold Trulh Translink Tour 2 Thaw Tour Wild ones tour Mirrorball dev Mirrorball BCF Adventure Collective Real and Magic Development The Velveteen Rabbit Developmenl Hollow {Development and Tour) Wild Ones Summer Scheme Mirrorball Tour Tribe Tour 2,851 33,889 57,855 53,894 (61,796) (39,859) 1,090 (24,761) 23,163 (2,860) 1,788 1,072 1,218 (954) (264) 6,997 (8,135) 1,138 42.795 2,685 16.644 48,376 (38.828) (11.835) (67.068) (44,210) (272.685) (3,967) 9,150 50.424 {4,166) 29,716 33,880 232,252 23.163 At 1 April 2022 Al 31 March 2023 Income Expenditure Transfers UP- General Core UP- Prism Untold Truth Translink Tour 2 Thaw Tour Wild ones lour Mirrorball dev Mirrorball BCF Adventure Collective Real and Magic Development The Velveteen Rabbit Development Hollow (Development and Tour) Wild Ones Summer Scheme Mirrorball Tour Tribe Tour 22,881 46.934 39,597 29,996 17.449 (57.379) (182) (34,019) (17,449) (9,585) (5.526) 3,259 2,851 33,889 764 (2.860) 17.127 (2.860) 28.704 (41,807) {6,326) (5.724) (56,413) (1,036) (4,024) 6,326 (263) (3.389) 5,987 59,802 1,036 37.912 229,505 (220,335) (13,202) 33,880 27
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Statements (contlnued) Year ended 31 March 2024 20. Analysis of charitable funds (contlnuedj Funds in Deficit Funding was received during the year to partially fund the deficit that arose due to the Translink Tour 2 Fund, the remainder has been absorbed by Replay Productions Limited. Transfers have taken place during the year which relates to fixed assets. Replay used funding to purchase assets which have been transferred to Unrestricted Funds as Replay fully own the assets. no restrictions have been placed on Ihese assets. A Transfer has also laken place in the year to reclassify management fee income to Unrestricted Funds as the funds are available for any use, no restrictions are in place for the usage of this income. Transfers have taken place through the year to reallocate income to different projects. Paul Hamlyn income received is restricted to Ihe UP Programme which includes all the projects for children with disabilities, any underspend from these specific projects is transferred to other UP projects. 21. Analysis of net assets between funds Unrestricted Funds Restricted Total Funds Funds 2024 Tangible fixed assets Currenl assets Creditors less than 1 year Net assets 26,451 112.223 {20,859} 117.815 26,451 135.386 (20,859) 140,978 23,163 23,163 Unrestricted Funds Restricted Totsl Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 30,764 90,380 (15,975) 105,169 30.764 128.395 (20.110) 139,049 38.015 (4.135) 33,880 22. Contingent liabilities A Contingent liability exist5 to repay grants received should certain conditions not be fulfilled by the charily. In the opinion of the Trustees, the terms of the Letters of Offer have been. or will be, complied with and no liability is expected. 28
Replay Productions Limited Company Limited by Guarantee Notes to the Financial Ststements (contlnued) Year ended 31 March 2024 23. Corporation taxation The Company is a registered charity, and as such is entitled to lax exemptions on income and profits in furtherance of the charity's primary objectives. 24. Ethical standards In common with many other businesses of our size and nature we use our auditors to prepare and submil retums to the tax authorities and assist with the preparation of the financial statements. 25. Related parties The Trustees have considered guidance in relation to related party transactions and believe there are no transaclions that require disclosure. 29
Replay Productions Limited Company Limited by Guarantee Management Information Year ended 31 March 2024 The following pages do not forni part of the financial statements. 30
Replay Productions Limited Company Limited by Guarantee Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Income and endowments Donations and legacies Donations 392 629 Charitable activities Arts & Business Arts Council- core funding Arts Council - project funding Belfast City Council Children in Need Fees, tickets and programmes Halifax Foundation Paul Hamlyn Foundation (2021-2024 Grant) Paul Hamlyn Foundation (2021-2024 Grant) The People's Project Garfield Weston Arts Council- Equipment Funds Ulster Garden Willages Foyle Foundation 1,788 89,330 49,845 28.512 36,263 43,561 15,000 86,479 49,845 28.512 24,561 25,713 8,500 1,373 73,700 72,327 10,000 25.000 8.517 25,000 5.526 6,000 20,000 365,143 370,209 Investment income Bank interest receivable Other income HMRC Insurance Claim 43,446 3.794 35,777 47,240 35.777 Total income 412.819 406.618 31
Replay Productions Limited Company Limited by Guarantse Notes to the Detailed Statement of Financial Activities Year ended 31 March 2024 2024 2023 Expenditure on charitsble activities Charitable activity Activities undertaken directly Wages & Salaries Employer's NIC Pension costs Rent Insurance Transportation Telephone Slationary & Postage Depreciation Marketing & Publicity Creative Fees Memberships Travel & Accommodation Training Research & Evaluation General Running Costs Store Premises Expenses Access & Inclusion Costs Office expenses Exchange Rate Variance Loss on disposal Malerials 141,876 8,947 3,340 6,587 2,712 6.043 205 914 14,223 8.130 124.512 230 31,149 134,573 8.360 3.069 6.587 2.587 7,504 182 747 12,948 4.643 134.101 732 26,508 658 2.599 2.360 7.507 5.961 78 25 372 2,328 7.921 2.997 120 2,357 24.745 389,717 361,729 Support costs Wages & Salaries Employefs NIC Pension costs Rent IT & Office Maintenance 12,337 778 290 573 1,284 11,702 727 267 573 819 15.262 14,088 Govemance costs Audil fees Professional fees Other Governance costs 3,596 2,100 215 3.568 3,339 397 5.911 7,304 Expenditure on charitable activities 410,890 383,121 Net income 1,929 23,497 32