Charity number.. NIC103059 Charity number: XR 78073 Company number: Nl 050953 In Your Space Circus Ltd (A eompony limited by guarantee) Directors, report and financial statements for the year ended 31 March 2023
In Your Space Circus Ltd (A company limited by guarantee) Contents Page Infonnation page Directoi%' report Independ¢nt auditor's report 8-11 Stateinent of financial activities 12 Balance shect 13 Cash flow Statement 14 Notes to th¢ fIriancial statements 15-22
In Your Space Circus Ltd (A company limited by guarantee) Information Directors latn Max B¢¢r Christina Crouch Eavan Claire King Ross Parkhill Stephen Kelly Sccrctary Cathorine M¢Bride Charity Number XR 78073 NIC103059 Compajiy Number NI 050953 Auditors McGroarty Mccaffety & Company Accountants & Registered AuditOTS 2 Carlisle Terrace Derry BT48 6JX Rcgistered Office Waterloo House 44A-48A Waterloo Street Dery BT48 6HF Baiilicrs Unity Trust Brindl¢y Place Binningham BI 2HB Solicitors Hasson & Cornpany Solicitors 39141 Clarelldon Street Deny BT48 7ER Page I
In Your Space Circus Ltd (A company limited by guarantee) Report of the directors ror the year ended 31 March 2023 Th¢ directors present their report and the financial statements for the year ¢nded 31 March 2023. Principal Activity The principal activity of the company in the year under review is the facilitation of Gircus, drama and visual arts worksliops in schools and community venues acro55 th¢ North Wost and throughout Ireland. Dlrcctors The directors serving during th¢ year were as follows; lain Max Beer Clirislina Crouch Ross Parkhill Steplien Kelly Eavaii Claire King Appolntment of Dlreetors At the Annual Ggneral Meeting one third of directors resign in rotation and bein8 eligible otrer themselves for re-election. About In Your Space Circus Ltd Derry-based In Your Space Circus Ltd, is a circus school and street theatre company, which works with artists (local, national and international) with a wide range of skills. We work individually and in collaboration with other organisations and art forms to deliver projects which involve circus skills (J'uggling, diablo, acrobatics, uni¢yGlin8, trapeze, stilt-walking, clowning et¢.), street theatre, visual arts, music, c05tume-making> and theatre. We are one of tl)e m05t innovative and dynamic arts organisations in Derry and the North-west of Ireland, utilising circus and slreot theatre as a veliicle for personal, social and cornmunity development. In Your Space Circus Ltd is passionate about Contemporary Circus and Street Theatre. Circus is incredibly exciting, combining high skill with comedy and wonder. B¢¢aus¢ of the unique ability of circus to support personal, social aiid coininunity development, it is now being recognised as a powerful tool for Ghan8¢. Street Th¢atr¢ ensures ther¢ are less barriers and inore opportunity for audi¢n¢¢s who may not ordinarily engage with the arts to feel w¢l¢om¢ and valued in their participation, We prid¢ ourselves on creating (and curating) acts, shows and installations which are unique and provide meaningful ¢ngag¢ment. This allows our audi¢nc¢5 to escape the challenges of d&y-to-day life, if only for a Inoment, and invites them to play and be silly and make memori¢s tog¢ther. Our Mission To unleash the pow¢r of circus and Street theatre, igniting the imagination and tran5fonning lives and ¢ommunities. Our Vision A vibrant, conn¢cted and thriving community where artists> participants and audiences have th¢ space to explore and develop their creative talents Ough circus, street theatre and play. Our Values Circus a5 a vehicle for social change We believe in the pow¢r that circus and street theatre has in bringing about personal and social change and buildÈng vibrant and supportive communities. Page 2
In Your SpAce Circus Ltd (A company limited by guarantee) Report of the directors ror the year eod¢d 31 March 2023 Creativity an(1 play We beli¢v¢ that through cr¢ativity and play everyone can flourish and express their unique solves. Lifelong learnlng We believe in using the medium of cir¢us to make sure people can continue to learn throughout their lives. Inclusion We are coinmitted to delivering street theatre and circus in highly ¢r¢ativ¢ and inclusive ways, ensuring meaningful engagement for everyone, no matter what their age, ability or background. Collaboration We ar¢ passionate about liarnessing creative opportuniti¢s and being more effective by working together with others. Excclleiice and InnovAtion We are committed to ensurin8 that ¢v¢rythlng we do and creat¢ is of th¢ highest quality and continually innovates and improves. Our Goals 2023-2027 GOAL I: Our Home To ensure we successfully move into the Cathedral School and develop a hom¢ which meots th¢ needs of our artists, participants and audiences. GOAL 2: Pcrformance and Events To increase tho ambitioii and quality of our perfonnance and producing work. GOAL 3: Educotion and Training To increas¢ progression rout¢s for everyone to have the opportunity to develop circus and street th¢atr¢ skills at tl)eir own level. GOAL 4: Social Clrcus Outreuch To Iiarness the pow¢r of circus to support th¢ health and wellbeing of p¢ople and communities, and encourage them to reacli their potential. GOAL 5: Peoplo and Culture To ¢nsur¢ that we have th¢ right people to support us in achieving our goals, and that they are supported, nurtur¢d, and given opportunities to grow. Our Commitments 2023-2027 COMMITMENT I: Comtnunications To continue to raise our profile locally, nationally and intcrnationally, comfftunicating with a consistent voice and confidence in our brand. COMMITMENT 2: Finance To ensure we raise the income we need to achieve our goals and that these resources are managed effectively and transparently. Page 3
In Your Space Circus Ltd (A company limited by guarantee) Report of the directors for the year ended 31 March 2023 COMMITMENT 3: Govornan¢e To e115ure the governance of In Your Spa¢¢ Circus Ltd reflects the visionary, ambitious and creative ethos of the ompany and effectively balances creative aspiration with Compliance and best practis¢. COMMITMENT 4: Change Making To support the developinent of advocacy, lobbying and practic¢ in r¢lation to circus and the arts. COMMITMENT 5: Artlstlc Excellence To support the highest quality delivery in cirGus education and performance while ¢nGouraging skills and tal¢nt development at all lev¢ls of circus. 2022-2023 in Brief Introduction: 2022-2023 has been an exciting, developmental and highly crcative year for In Your Space Circus. We have had the opportunity to create new work, make significant developments to the Circus School and provide interesting work for local artists. Following the impacts of the Covid-19 pandemic, In Your Space Circus Ltd has also managed to strengthen its infrastructure through improving tho staffing structure, growing income, and building reserve5. This has put the Company on an ¢xc¢llent footing for the coming year. Our Programme for the yeHr Our circus school and social circus outrea¢h work gr¢w significantly over the period, delivering the following range of prograinmes: P¢as in a Pod: weekly classes for toddlers and pre-s¢hool aged chlldren Seedlings Circus: we¢kly ¢la5se5 for a8e 4-8 years Youth Circus.. Weekly class¢s for age 9-18 year5 Aspiring Leaders: A developmental programme for youth circus rnembers s¢¢king to work in circus CircAbility: Weekly classes for children with autisrn Adult Circus: Weekly cla55es for adults Silver Circus: Classes and programmes for people aged 55 plus Aerial: W¢ekly aerial classes for ages 4-adult Masterclas5es: Specialist classes and programmes delivered by guest trainers and artists General Outrea¢h Circus: workshops for youth, community and school groups across Northern Ireland Circus Together., Good Relation5 proj¢Gt aimed at schools and community groups. In total we dolivered 747 sessions, reaching 4,447 participants. We delivered our Festival, Camival of Colours in Derry City Centre, to an audience of15,919 across the weekend. This included a broad demographic, with a focus on families, young peopl¢ and those with lllnited cxp¢rienc¢ of the arts. We also reached a good mix of local peopl¢ and visitors to the City. Through our animation and str¢¢t tlieatre producing work we dclivered 378 perfonllances at events with audiences totalling almost 350,000. Highlights included: Page 4
In Your Space Circus Ltd (A company limited by guarantec) Report of the directors for the year ended 31 March 2023 Dcv¢lopment of new work for tho Foyle Maritime Festival Continued collaborative working with Derry Feile, producing the Ice Cream Carnival A s¢ll out show developed for Deny Halloween Commissioning and delivery of 3 new characters for N¢rv¢ C¢ntre's Our Place if Space project, which was part of th¢ Unboxed Festival Beginning of th¢ d¢velopnient of a new immersiv¢ street theatre tour of the City Exciting Devclopments (highlighting just a few of many signifieant developments) l. Th¢ most significant developin¢nt in the period was obtaining an 'a8reem¢nt to l¢a5¢' for th¢ Cathedral School, a stunning heritage building located in the Cathedral Quarter area of th¢ Gity. The building requires a major capital development programme but has the potential to be a huge milestone in th¢ lif¢ of the organisation. 2. We work¢d on a major project with University of Ulster, Circusful, the lrnperial War Museum and Fr¢nch acrobatic collective 'Coinpagnie XY,. 20 acrobats descended upon th¢ City in September 2022, sharing intimate Illomcnts with people on th¢ strects of Deny before culminating in H performance of 'Les Voyages, in St Columb's Park. This eleinent of the project served as research into Derry und its peopl¢; ultimately the project will involve Creation of a new pei'forniance, in collaboration with Northern Ireland-bas¢d artlSts. to mark the 25th Annivcrsary of the Good Friday Agreemeiit in 2023-2024, 3. Signing an agreement with Equity, reinforcing our position as a Company paying appropriate fees and providing fair and equitable conditions for artists. IYSC is the first arts organisation in the Northwost. and tho fwst ever circus organisation, to sign the Equity A&r¢cmcnt. 4. Circus School developments which included: Restructuring the Central Circus Classes. Focusing on quality of existing pro8ramm¢s. Growing the training t¢am, including development of the Aspiring Leaders prograrnme. Launching our CircAbility project for children with autism and our Silver Circus project for older peopl¢. Beginning the procoss of developing OCN accredA¢atxon. Providing opportunitie5 for participants to participate in exchang¢5 and visits to nurture their passion for circus. Developing new connections (locally? nationally and internationally) to Strengthen the organisation and its position within the Sector. Funding Review During 2022-2023 we su¢ces5fully secured funding and sponsorship from th¢ following bodies. - Arts Council of Northern Ireland - Annual Funding Programme - Health and Saf¢ty Capital Programm¢ - Arts and Older People Programme Derry City and Strabane District Council Cultural Venues Fund - Headlin¢ Events Good Relations Fund Small grants for Culture Night and Good Relations week Community Foundation for Northern Ireland - Keadue Foundation - Co-op Fund The Executive Office Page 5
In Your Space Circus Ltd (A company limited by guarantee) Report of the directors for the year ended 31 March 2023 Esinee Fairbairn - Arts and Business Nl - Blueprint Programme Britisl) Science Association with the Wellcome Trust- Ideas Fund Public Health Agency - Clear Project - Tourism Nl Flalifax Foundation U15ter University We would like to thank all our funders for supporting IYSC this year. The projects and programmes which were funded allowed us to be creative, experimental and to help improve the lives of our participants and audiences. Structure, Governance and Management During tlie period In Your Space Circus has ¢nsured stability in structure* gov¢manc¢ and manag¢m¢nt. Board Ineelings liav¢ been regular and consistent, and Board sub-groups have Met to discuss specific issues and developineiits. The Company Structure for 2022-2023: l. Board of Directors. 2. Company Director.. Line-managing all employees. 3. Creativ¢ Director.. Supervising tho fr¢olance artist team. 4. Circus Education Director: Supervising tho freelance training t¢am. 5. Adinin and Finance Officer: Managlng Company fLnance systems and supporting admin functions. 6. Freelancc Project Coordinators: Coordinating various projects across Circus S¢hool activity. Conclusion and Looking ForwArd We are delighted to have had a creativ¢ and successful year in terms of inGom¢, participation, audience d¢vclopinont and public profil¢. We are confident that we have demonstrated resillen¢¢ and sustainability this year whil¢ Inaking dynamic strategic decisions around development. Financial Review The financial performaiiG¢ is summarised in the enc105¢d accounts. Rcsponsibilities of the Board of Dlreetors The directors are responsible for preparing the Directors Report and the financial statements in accordance with applicabl¢ law and United Kingdom Accounting Stsndards (United Kinsdom Generally A¢¢¢pt¢d Accounting Practice). Company law requires the directors to prepare financial statements for each financial year that give a true and fair view of the state of tho affairs of the charity and of the incoming resources and application of r¢sources, including the income and expenditure, of the charAtable company for that period. In preparing th¢s¢ financial statements. the directors are required to: observ¢ methods and principles in the charities SORP(FRSI 02). select suitable accounting policies and apply th¢m consistently. make judgements and estimates that are reasonable and prudent. prepare financial statements on the going concern basis unless it is not appropriate to assume that the charity will continue on that basis; state whether applicable UK Accounting Siandards have been followed, subject to any material departures disclosed and explained in the financial statements. Page 6
In Your Space Circus Ltd (A company limited by guarantee) Report of the directors for the year ended 31 March 2023 Th¢ dir¢¢tors ar¢ responsible for maintAining prop¢r accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any tim¢ the financial position of the charity and enabl¢s them to ensure that the finan¢ial statements comply with the Companies Act 2006. The directors are also r¢sponsible for safeguarding the assets of the charity and hence taking rcasonable st¢ps for th¢ pr¢v¢ntion and detection of fraud and other irrogularities. In accordance with Company law, as the company's directors, we certify that,, So far as we are aware, there is no relevaiit audit information of which th¢ ¢ompany'5 auditors ar¢ wiaware; and as tlie directors of the Company we have taken all step5 we ought to have taken in order to make ourselves awar¢ of any relevant audit information and to ¢stablish that the charity's auditors are aware of that infonnation. Audltor's McGroarty Mccafferty & CompaThy are deemed to be r¢appoint¢d as in ac¢ordance with Section 487 (2) of th¢ Coinpanies Act 2006. Tliis report 15 prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to 51nall companies. Th¢ financiol statements were approved and authorised for issue by the board on 24 November 2023 and signed on its beli Dire¢tor Director Page 7
In Your Space Circus Ltd (A company limited by guarantee) Independent auditor's report to thc members of In Your Space Circus Ltd Opinion W¢ have audited the financial statements of In Your Space Circus Ltd for the year ended 31 March 2023 whi¢h comprise the Statement of Financial Activities, the Balance Sh¢ot, tho Cashflow Statement and the related notes. The financial reporting framework that been appli¢d in their preparation is applicable law and United Kingdom Accounting Standards (United Kin8dom Generally Accepted Accounting Practice) including FRS 102 The Financial Reporting Standard applicable In th¢ UK and Republic of Ir¢land" This report is made solely to the charitable company's directors, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste to the Charitable company's directors t1105e inatt¢rs we are required to stat¢ to them in an auditorfs report and for no other purpose. To th¢ full¢st ¢xt¢nt permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the haritable company's directors as a body, for our audit work, for this r¢port, or for the opinions we have fonned. In our opinion the financial statements.. give a true and fair view of the state of th¢ charitable company's affairs as at 31 March 2023, and of its incoming r¢sources and expenditure of resource5, including its income and expenditure, for th¢ year th¢n ¢nd¢d; littve been properly prepared in accordance with United Kingdom Gen¢rally Accepted Accounting Practice; liave been pr¢parcd in accordance with tho requirements of the Compani¢s Art 2006. Basis for opinion We conducted our audit in uccordance with International Standards on Auditing (UK) (ISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitabl¢ company in accordanco with the ethical Tequireinents that are relevant to our audit of th¢ 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 ¢vid¢nce we Iiuve obtaincd is surricient and appropriate to provide a basis for our opinion. Conclusions relating to golng concern In auditing the financial statements, we have ¢onGluded that the directors, use of th¢ going concern basis of accounting in tlie preparation of the financial statements 15 appropriat¢. Bas¢d on the work we have p¢rfonned, we have not identified any material uncertainties relating to ¢v¢nts or conditions that, individually or collectively, may cast significant doubt on th¢ charitable company's ability to continu¢ as a going concern for a p¢riod of at least twelve months from when the financial statoments are authorised for i55ue. Our responsibilities and tho responsibilities of the dir¢¢tors with respect to going con¢¢rn are d¢scribed in the relevant sections of this report. Otlier Information The directors are responsible for the other information. The other inforniation comprises the inforn]ation included in the directors, annual report, other than the financial staternents and our auditor's report thereon. Our opinion on the fanCIal sthtements does not cover otlier information and, except to the extent otherwise explicitly stated in our report, we do not QXPIESS any form of assurance conclusion thereon. In connection with our audit of the fmancial Statements, our responsibility is to read the other information and, in doing so, consider whether the other infonnation is mat¢rially inconsistent with the fll]ancial statements or our knowledge obtained iii the audit or othenvise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deterniine whether there is a mat¢rial misstatement in the flnancial stateinents or a material misstatement of the other information. If, based on the work we have perfonncd, we conclude that there is a Inaterial misstatement of this other infonnation, we are requir¢d to report that fact. We have nothing to report in this regard. Pagc 8
In Your Space Circus Ltd (A company limited by guarantee) Opinion 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 giv¢n in the Directors, Annual R¢port for the financial year for which the financial statements are prepared is consistent with the financial stat¢ments; and tlie Directors Annual Report has been prepared in accordanc¢ with applicable legal requirements. Matters on which we are requfired to report by exception In the light of our knowledge and understanding of the charitable company and its ¢nvironm¢nt obtain¢d in the course of the audit, we have not identified material misstatements in the Directors Annual Report. We have nothing to r¢port in respect of the following malters where the Companies Act 2006 require8 u5 to report to you if, in our opinion., adequate accounting records liave not been kept; or the financial statem¢nts are not in agreement with th¢ accounting records and returns. or certain disclosui'¢s of directors, remuneration specified by law are not made. or we have not received all tli¢ information and explanation5 we r¢quir¢ for our audit. or tlie directors were not entitled to prepure the financial statements in a¢cordanc¢ with th¢ small companies regime and take advantage of tlie small ¢ompani¢s exemption from th¢ requ1ment to pr¢pare a strategic report. Responslbilities of the dfirectors As cxplained more fully in the DArectors' Responsibilities Statement set out on page 6, the directors (who are also the directors of the churitable company for the purposes of compFAny law) are responsible for the preparatlon of the financial stateinents and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether duc to fraud or error. In preparing the financial statcments, th¢ diroctors are responsible for assessing the ¢h&ritabl¢ Company's ability to continuo as a going concern, disclosin8, as applicable, matters relat¢d to 80ing Concern and using the golng concern basis of accounting uiiless tli¢ directors either intend to liquidat¢ the ¢haritable company or to cease operations, or have no realistic al¢¢rnative but to do so. Auditor's responsibilities for tlie audlt of the financial statements Our objectives are to obtain reasonable assurance about wh¢th¢r the financial statements as a whole are free from material misstatement, wheth¢r duc to fraud or error, and to issu¢ an auditor's report that includes our opinion. Reasonable assurance is a hi8h level of assurance, but 15 not a guarant¢¢ 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 consider¢d malerial if, individually or in the aggregate, th¢y could reasonably be expected to influ¢nc¢ th¢ ¢conomi decisioiis of us¢rs taken 011 the basis of thes¢ financial statements. I xplanation as to what extent the audit was consldered Capable of detectlng IrregularltR¢s, Including In'egularities, in¢luding fraud, are instan¢¢s of non-compliance with laws and regulations. We design procedures in line with our rcsponsibilities. outlined above, to detect material misstatements in r¢spe¢t of irregulaftties, including fraud. Flowev¢r, the priInary responsibility for th¢ prevention and deteGtion of fraud lies with management and the board of directors of the charitable company. Identifying and assessing potential risks related to irregularities In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we con5id¢red the following: tlie naturc of the induslry, sector and the specifjc control environment which it operates in. Page 9
In Your Space Circus Ltd (A company limited by guarantee) the cliarities own assessment of the risks that irregularities may occur, cithcr as a result of fraud or error. representations and results from our enquiries with management and th¢ board of directOTS regarding their own identification and assessment of the risks of irregularities; enquiri¢s of Imanagement relating to accounting estimates measur¢m¢nts, recognition criteria and justification of such aiiiounts. any inatters we have identifIed having obtained and reviewed the Charities policies and procedures r¢lating to; * identifying and assessing if laws and regulations are Compliant and whether they ar¢ aware of any instances of non-compliance. detection and r¢sponse to the risk of fraud and whether they are awa of any actual, suspected or alleged fraud instances. * the internal controls d¢signed to mitigat¢ risks or fraud or non.complianc¢ with laws and regulations, and to minimise risk of management OveideS of such controls. all matters discussed ainong the audit engagem¢nt team regarding how and wh¢r¢ fraud could occur and the potential indi¢ators of fraud. As a result of th¢s¢ procedures, we considered the opportunities and in¢¢ntlV¢5 that may exist within the charity for fraud. The audit includ¢d assessing tlie procedures and evaluating die measurement of estimation8. In common with a]1 audits under ISAS (UK), we are also required to porform specific proccdures to respond to the risk of management override. Wc also obtained an understanding of the l¢gal and regulatory frameworks applicable to tho charity and considered that the most significant are the UK Companies Act 2006, SORP 2019 (FRS 102) and Charities Act (Northern Ireland)2008. Audit respoiises to rlsks identified Our procedures to respond to risks identified included the following.. reviewing th¢ financial statement disclosures, testing the relevant documentation to assess compliance with tho significant laws and regulations - those described &5 having a direct effect on the financial stat¢mcnts: enquiring with managetnent and obtaining third party confinnation from th¢ Charities Solicitors rcgarding any actual or potential litigation and claims; porfonlling analytical proceduros to identify any unusual or unexpected relationships that may indicate risks of material misstatement du¢ to fraud; reading minutes of board and rnanagoment meetings, examine fore¢asting material in line with actual perfonnance, identifying any potential fraud indi¢ator5 Qr instances. reviewing Companies House and Charity Commission Northern Ireland Gorrespondence, identify any late submissions or omissions of inaiidatory infom]ation' r¢viow correspondence with FIMRC, identifying non Lomplianc¢ of specific infornlation to be disclosed; in addressing the risk of fraud through managern¢nt ov¢rrid¢ of controls, testing the appropriat¢n¢ss of dala ¢ntri¢s and adjustments; assessing wh¢th¢r tho judgements mad¢ in making accounting estimates ar¢ indicative of a potential bias; and evaluatiiig the rationale of any significant trdnsactions that are unusual or outside th¢ nonnal course of the Charities objectives. We also cominunicated relevant id¢ntified laws and regulations and potential fraud risks to all cngagem¢nt team members and remained alert to any indications of fraud or non¢ompliance with laws and regulations throughout the audit. As part of an audit in accordance with ISAS (UK), we exercis¢ professional judgment and maintain professional scepticism throughout the audit. We also: Identify and asse5S the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures rcsponsive 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 misstatement resulting from fraud is higher than for one resulting from ¢rror, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Page 10
In Your Space Circus Ltd (A company limited by guarantee) Obtaiii an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the Circumstances, but not for the purpose of expressing an opinion on th¢ eff¢ctiveness of th¢ charitable company's internal control. Evaluate th¢ appropriateness of a¢counting policies used and the reasonableness of accounting ¢stimat¢s and related disclosures inade by tho directors. Conclude on the appropriateness of th¢ dir¢ctors' use of the going con¢¢rn basis of accounting and, based on the audit evidence obtained, wh¢th¢r a material uncertainty exists r¢lat¢d to events or conditions that may cast Sl8nifi¢ant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material un¢¢rtainty exists, we are required to draw attention in our auditovs report to th¢ related disclosures in the fanCIal stat¢ments or, if such disclosui'es are inadequate, to modify our opinion. Our conclusions are based on the audit ¢videnc¢ obtained up to the date of the auditor's report. However, future events or conditions may ¢aus¢ th¢ charitable company to cease to continue as a going Gonoern. Evaluate the oveizll presentation, structure and ¢ont¢nt of the financial statements, including the disclosures, and whether the financial statements represent th¢ underlying transactions and ¢v¢nts in a manner that a¢hi¢v¢s fair pres¢ntaiion. We communicate with thos¢ charged with governan¢¢ regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficicnci¢s in inlernal control that we identify during our audit. Mr Patrlck McGroarty Scnlor Statutory Auditor for and on behalf of McGroarty Mccafferty & Company Statutory Auditor 2 Carlisle Terrace Dorry* BT48 6JX Date: 24 November 2023 Page 11
In Your Space Circus Ltd (A company limited by guarantee) Statement of financial activities rior the year ¢Dded 31 March 2023 Unrestricted Restricted Designated runds funds funds 2023 Total 2022 Total Notes Incoming resources Grants & Oth¢r Income 357,718 330,859 688,577 499,992 Total incoming resources 357,718 330,859 688.577 499,992 Resourcos expeiided Direct Charitable Expenditure Management & Administration 214,726 15,485 261,300 56,925 476,026 72.410 438,203 60,010 TotAI re50urce5 expended 230,211 318,225 548,436 498,213 Net incomlngl(outgoing) resources for the year 127,507 12,634 140,141 1.779 Total funds brouglit forward 89.000 19,094 108,094 106.315 216,507 31,728 248,235 108,094 Transfers between funds (91,507) 91,507 Total funds carried forward 13. 125,000 31,728 91,507 248,235 108,094 All of tlie abov¢ amounts relate to continuing activities. The company has no recognised gains and losses other tlian those included in the results above and therefor¢ no sep¢rate statement of recogni5ed gains or losses has been pres¢nted. There is no difference between the net incoming resources for tho year stated above and their historical cost equivalents. The notes oil pages 15 10 22 form an integral part ofthese financial statements. Page 12
In Your Space Circus Ltd (A company limited by guarantee) Balance sheet as at 31 March 2023 2023 2022 Notes Fixe(l asscts Tangible assets 28,412 35,529 Current assets Debtors Cash at bank and in hand 52,450 324,294 58.813 152,914 376,744 211,727 Credltors: amounts falllng due withln on¢ year Net ¢urreiit asscts 10. (156,921) (139,162) 219,823 72,565 Nct assets 12. 248,235 108,094 Funds Restricted funds Unrestricted funds Designated funds 13. 31,728 125,000 91,507 19,094 89,000 19. Total funds 248,235 108,094 These accounts liave been pr¢pared in accordance with tho special provisions of Part 15 of the Companies Act 2006 and the Cliaritie5 SORP 2019 (FRS L02). The financial statem¢nts were approved aiid authorised for issu¢ by the board on 24 Novemb¢r 2023 and signed on its behalf by Director Dlrector Cotnpaiiy Registration No: N1050953 Tlie notes on pages 15 to 22 form an integral part ofthese financial statements. Page 13
In Your Space Circus Ltd (A company limltcd by guaralltee) Cash flow statement for thc year ended 31 March 2023 2023 2022 Notes Net incomin(outgolng) resources for the year Depreciation and iinpairnient Decreas¢ in debtors Increase in ¢r¢ditors 140,141 18,892 6,363 17,759 1,779 22,487 9,511 70,461 Net casli iiiflow from opcratlng activities 183,155 L04,238 Capital expenditure (11,775) Inci'case in ¢asli in the year 171,380 104,238 Reconclllatlon of net casli flow to movement In net funds Inereaso in cash In the year Net funds at l April 2022 171.380 152.914 104,238 48,676 Net funds at 31 March 2023 14 324,294 152,914 Page 14
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements ror the year ended 31 March 2023 General information The charity is a privat¢ limited company by guarant¢¢, r¢gist¢r¢d in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Waterloo Hous¢, 44A48A Waterloo Str¢¢t, Dery, BT48 6HF. 1.1. Accollnting convention Tlie significant accounting policies applied in the preparation of these financial statements are set out below. Th¢s¢ policies have been consistently applied to all y¢ars pr¢s¢nted unless othorwise stated. The charity constitutes a public benefit entity as defined by FRS102. The financial statements hav¢ b¢¢n prepared in accordance with the accounting policies set out in not¢s to th¢ accounts and ¢omply with the charity's govei'ning document, the Charities Act (Northern Ireland) 2008 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Ghariti¢s pr¢paring their accounts in accordance with the Financial Reporting Standard appli¢abl¢ in th¢ UK and Republic of Iroland published in Octob¢r 2019 (SORP 2019) and the Cornpani¢s Act 2006. The financial statements are prepared on a going concern basis under the historical cost convention, modified to included certain items at fair value. The financial $tat¢m¢nts are presentcd in stcrling which is the functional Currency of the charity. Incoming resources Incoilling resources ar¢ included in the SOFA when the charity is legally entitled to the income and the amount an be qualified with reasonable a¢ruracy. The following Specific policies were 8pplied to particular categories of income.. Grants and other income are received by way of 8rants, donations and gifts and is includod in full in the statement of financial activities when r¢ceivabl¢. Grants whore entitlement is not conditional on the delivery of a specific perfonnan¢¢ by the cl)arity, are recognised wh¢n th¢ charity becomes unconditionally entitled to the grant. Revenue grants are credited to the Statement of Financial AGtiviti¢s in the ycar they are received. 1.3. Resources exp¢nded All expenditure is accounted for on an accrual basis as a liability is incurred and has been classified under headings tliat aggregrate all costs relat¢d to th¢ category. Charitable expenditure comprises those costs incur¢d by th¢ charity in the delivery of its activities and services for its b¢i)¢ficiaries. It includes both costs that can be allocated directly to such a¢tiviti¢s and thos¢ costs of an indircct nature to support them. 1.4. Fund accounting UnrestriGt¢d funds arg availubl¢ for use at the discretion of the dir¢¢tors in furtherance of the generdl objectives of the ¢harity. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or wliicli have been raised by the charity for particular purposes. The cost of raising and athnini5t¢ring such funds are charged against the specific fund. Desigiiated funds aTe unrestricted funds eannarked by the directors for particular purposes. Page 15
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for th¢ ycar ended 31 Marcli 2023 1.5. Tangible fixed assets and d¢pr¢¢latffion Tangible fixed assets ar¢ stat¢d at cost less accumulated depreciation. Depreciation is provided at rates calculated to write off the ¢ost l¢ss residual value of each asset over its expected useful lif¢, as follows.. Equipment Fixtures & fittings Motor vehicles I OQ/D Straight line 200/0 Straight lin¢ 25Yo straight line 1.6. Cash at bank Cash at bank and cash equivalents are stated at C05t at the financial y¢ar ¢nd. 1.7. Debtors & creditors Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairnient are recognised in expenditure. 1.8. Conipany status Th¢ charity is a company limited by guarant¢¢ and does not have a share capital. 1.9. Pension costs Contributions to auto enrolmcnt pension schemes are recognised as an expense in the period in which the rolated service is provided. 1.10. Capltal Grants In line with SORP Capital Grants are releed to incomin8 resources in the Stat¢m¢nt of Financial Activities. Capital Grants are released at a rate of IOY¥ on a straight line basis. 1.11. Going concern Th¢ financial statements have been prepared on a going concern basis as the directors believe that no material uncertainties exist. The directors have considered the level of funds held and th¢ expected level of incorne and expenditure for 12 months from authorising these financial statements. The budgeted in¢orn¢ and expenditure is sufficient with the level of r¢s¢rv¢s for tli¢ charity to be able to continue as a going concern. Page 16
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2023 Voluntary In¢ome 2023 Total 2022 Total Restrl Ilex Public Health Agency- CLEAR Project Art & Business Nl The Community Foundation Northern Ir¢land Dery City & Straban¢ District Council Esmee Fairbaii'n Foundation Community Relations Council Halifax Foundation for Northern Ireland Arts Council of Northern Ireland The Executive Office British Science Association University Ulsl¢r Education Authority Departtnent for Cominuniti¢$ Tourism Nortliern Ireland ed Income 4,034 6,700 600 9,300 5,000 11,714 45,636 59,374 52,330 16,190 4,757 3,355 63,064 2,145 111,323 42,670 4,784 33,913 7,602 19,456 20,000 5,000 330,859 198,088 Unrestrl¢te Perfornian¢¢ F¢es & Event Income Participant Fecs Workshop Income Big Top & Equipmcnt Hir¢ D¢parlm¢nt of finance Public Donations Lock-up rent Deposit interest Sponsorship Covid Job Retention S¢h¢mo - Wages grant 229,896 32,656 37,830 18,195 26,400 3,974 4,100 917 3,750 232,735 11,268 39,739 10,682 2,431 4,675 374 357,718 301,904 Total Incoining Resources 688,577 499,992 (i) Restrlcted Funds Funds received which are earniarked by the funder for specific purposes. Such purpos¢5 ar¢ within the overall aims of the organisation. Unrestricted Fund5 Funds which are expendable at the discretion of the company In the futheranee of the aims of the charity. In addition funds may be li¢ld in order to finance capital investment and working capital. Page 17
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for the year end¢d 31 March 2023 Total Resources Expended Unrtstrieted Re5trl¢ted funds funds 2023 Total 2022 Total Management & Administration Rent & Rates Tnsurance Repair5 & R¢n¢wals Printing* Postage & Stationery Office overheads Advertising Motor Running Expense5 Accountancy Audit Reinuneration Bank Charges Governan¢¢ & Training Depreciation Charge 758 4,935 903 454 4,863 1,503 1,254 16,683 550 1,054 3,166 3.149 17,441 5,485 1,957 3,620 8,012 1,503 8,510 14,927 5,068 5,039 322 4,650 1,619 2,978 1,500 7,256 3,300 3,300 815 2,875 18.892 815 506 914 22,487 2.875 18.892 15,485 56.925 72.410 60,010 Unrestricted Restricted funds funds 2023 Total 2022 Total Dlrect Charitable Lxpcndlture Wages & Salaries Fr¢elan¢o Expenses Matorials & Event Costs Circus School Circus Outreach Expens¢s Carnival of Colours Exp¢ns¢s Cirability Expenses Good Relations Expenses Artist Development Expenses Community Fund Expenses Aspiring L¢adcrs Expenses University of Ulster Expenses Rethink Expenses Cathedral School Expense5 Silver Circu5 Expeiises 11,339 146,001 16,243 8,820 26,535 1,631 757 233 557 112,765 124.104 146,001 26,404 29,480 35,595 36,450 10,507 32,597 1,763 99,692 185,582 30,421 16,143 105,059 10,161 20.660 9,060 34,819 9,750 32,364 1,206 1,240 66 445 1,727 438 2,998 15,900 3,443 17,627 438 2,400 9,217 2,400 9,217 214,726 261,300 476,026 438,203 Total Expenditure 230,211 318,225 548,436 498,213 Page 18
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2023 Net incomlngl(outgoing) ruources for the year 2023 2022 Net incoininpJ(outgoing) resources is stated after charging; Depreciation and oth¢r amounts written off tangible fed assets Auditor's remuneration 18,892 3,300 22,487 Audltors, romuneration The aUdit0S r¢inuii¢ration amounts to an audit fee of £3,300 (2022 - Nil). I mployees 2023 2022 Wages and sAlttries P¢ii8iOlI Costs 119,003 5,101 95,378 4.314 124,104 99,692 No employ¢e received emoluinents of more than £60,000 (2Q22 . Nil). Tlie directors, neither r¢ceiv¢d nor waived any emoluments during the year (2022: Nil), Number of employees The average rnonihly nuinbers of employees during the year, calculated on th¢ basis of 11 time equivalents. was as follows,. 2023 Number 2022 Number Average employ¢¢s Taxation A5 a charity, In Your Space Circus Ltd is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or s256 of the Taxation of Chargeable Gains Act 1992 to the ¢xt¢nt that these are applted to its hargcable objects. Accordingly, no tax charge5 have arisen in the charity. Page 19
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2023 Fixture5, rjttings and equipment Tangible fixed assets Motor vehicles Equipment Total Cost At l April 2022 Additions 62,754 11,775 21,189 78,950 162,893 11,775 At 31 March 2023 74,529 21,189 78,950 174,668 Depreciation At l April 2022 Cl)arge for the year 41,883 12,709 8,476 4,238 77,005 1,945 127,364 18,892 At 31 March 2023 54,592 12,714 78,950 146,256 Net book values At 31 March 2023 19.937 8,475 28,412 At 31 March 2022 20.871 12,713 1,946 35,529 Debtor5 2023 2022 Grants & other income receivable 52,450 58,813 10. Creditors: amounts falling due witliin one year 2023 2022 Credit card Other taxes and social security Other creditors Defei'red income (see note I l ) Accruals and deferred incoine 3,303 9,317 263 127,284 16,754 1,209 7,148 3,688 E15,619 11,498 156,921 139,162 Page 20
In Your Space Circus Ltd (A company limited by guarantee) INotes to fInancial statements lor the year ended 31 Mar¢li 2023 11. Deferred Income 2023 2022 At l April 2022 Additions in the year Amounts released to income 115,619 43,843 87,956 305,364 (330,859) (233,588) At 31 March 2023 127,284 115,619 12. Analysi5 of net assets b¢hvecn funds Unre5trlcted Restrl¢ted Deslgnated funds fund5 runds Total funds Fund balances at 31 March 2023 as r¢presented by.. Tangible fixed assets Current assets Current liabilities 28,412 144,624 140,613 (19,624) (137,297) 125,000 28,412 376,744 (156,921) 91,507 31,728 91,507 248,235 13. Movements in Funds At l Aprll Incomlng Outgoing 2022 resour¢cs resources At 31 Mgrch 2023 Transfers Rcstricted funds: Restricted funds 19,094 330,859 (318,225) 31,728 Unrcstricted funds: Gen¢ral Funds 89,000 357,718 (230,211) (91,507) 125,000 Total unrestricted funds 89.000 357,718 (230,211) (91,507) 125,000 Designated funds 91,507 91,507 108,094 688,577 (548,436) 248,235 Pur ose.$ of Restricted Funds Restricted grants awarded to the charity is provided to cov¢r the core objects as explained in directors report. Page 21
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2023 14. Analysis of changes ill net funds Opening balance Cash flows Closing balancc Cash at bank and in hand 152,914 171,380 324,294 15. Related party transactions Th¢r¢ were no related part transactions in the y¢ar under review. 16. CompAny limited by guarantee The company is limited by guarantee and does not havo a Share capital. 17. Controlling interest Thc cliaritable company is under the control of the Dire¢tors. 18. Post Balance Slieet cv¢nts No significant events have taken place 5in¢¢ the year end that would result in adjustments to 2023 finanGial infonnation or inclusion of a note thereto. 19. Deslgnated Funds The Coinpany aspires to maintain the balance of unrestricted reserves at a level which ensures that there are sufficiont funds to cover six months, runnin8 Costs and essential programming, should there be a funding shortfall. The board has also approved a designated reserv¢ fund of £91,507 for the Cathedral School Development project and a restricted reserv¢ for ¢oinmitted projects. A detailed reserves poli¢y is avallable to view on request. Page 22