Charity number: NIC103059 Charity number: XR 78073 Company number: Nl 050953 In Your Spaee Clreus Ltd (A company Ilmlted by guarantee) Dlrectors, report and flnanclal statements for the year ended 31 March 2024
In Your Space Circus Ltd (A company limited by guarantee) Contents Pagc Inforniation page Directors, report Independent auditovs report Statement of financial activiti¢s 12 Balance Sheet 13 Cash flow statement 14 Notes to the financial statements 15-22
In Your Space Circus Ltd (A company limited by guarantee) Information Directors lain Max Beer Christina Crouch Eavan Clair¢ King Ross Parkhill Stephen Kelly Cara McLoughlin - Appointed 6th September 2024 Dale Robson - Appointed 6th September 2024 Sccrctary Catherine McBride Charity Number XR 78073 NIC103059 CompHny Number NI 050953 Audltors McGroarty Mccafferty & Company Accountants & Registered Auditors 2 Carlisle Terrace D¢ry BT48 6JX Rcgistcrcd Office Waterloo House 44A48A Waterloo Str¢et Dery BT48 6HF Banker5 Unity Trust Brindley Place Bimiingham BI 2HB Solicitors Hasson & Company Solicitors 39141 Clarendon Str¢et Derry BT48 7ER Page I
In Your Space Circus Ltd (A company limited by guarantee) Report of the directors for the year ended 31 March 2024 The directors present their report and the financial statement5 for the year ended 31 March 2024. Principal Activity The principal activity of the company in the year under review 15 the facilitation of circus, drama and visual arts workshops in schools and community venues across the North West and throughout Ireland. Directors The directors serving during the year were as follows; lain Max Beer Christina Crouch Ross Parkhill Stephen Kelly Eavan Clairtt King Cara McLoughlin - Appointed 6th September 2024 Dale Robson - Appointed 6th September 2024 Appolntment of Directors At the Annual Gcneral Meeting one third of directors resign in rotation and being eligible offer 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 art15ts (local, national and international) Nvith a wide range of skills. W¢ work individually and in collaboration with other organisations and art fomis to deliver projects which involve circus skills Ou8gling, diablo, acrobatics, unicycling, trap¢z¢, stilt-lvalking, clowning ¢t¢.), str¢¢t th¢atr¢, visual arts, music, costumc-making, and theatre. We are one of the most innovative and dynamic arts organisations in Dery and the North-west of Ireland, utilising circu5 and street theatre as a vehicle for personal. Social and community development. In Your Space Circus Ltd is passionate about Contempordry Circus and Street Theatre. Circus is incredibly excitingy combining high skill with comedy and wonder. Because of the unique ability of circus to support personal, social and community development, it is now being recognised as a powerful tool for change. Street Theatre ensures there are less barrters and more opportunity for audi¢n¢¢s who may not ordinarily engage with the arts to feel welcome and valued in their participation. We pride ourselves on creating (and curating) acts, shows and installations which are unique and provido meaningful engag¢ment. This allows our audiences to escape the challenges of day-to-day life, if only for a moment, and invites them to play and be silly and make memori¢s togeih¢r. Our Mlsslon To unleash the power of circus and street theatre, igniting th¢ imagination and transfomiing lives and communities. Our Vision A vibrant, connected and thriving community where artists, participants and audienc¢s have the space to explore and develop their creative talents through circus. street theatre and play. Page 2
In Your Space Circus Ltd (A company limited by guarantee) Report of the directors for the year ended 31 March 2024 Our Values Clrcus as a vehlele for soclal change We believe in the power that circus and street theatre has in bringing about personal and social change and building vibrant and supportive communities. Creatlvlty and play We believe that through creativity and play everyone can flourish and express their unique selves. Lifelong Icarnlng We believe in using the medium of circus to make sure people can continue to learn throughout their lives. Inelu5ion We are committed to delivering street theatre and circus in highly creative and inclusive ways, ensuring meaning1 engagement for everyone, no malter what their age, ability or background. Collaboration We are passionate about harnessing creative opporknnities and being more effective by working together with oihers. Exccllcnce and Innovatlon We are committed to ensurin8 that everything we do ond create is of th¢ highest quality and Continually innovates and improves. Our Goals 2024-2028 GOAL I: Our Hovne To ¢nsure we su¢ccssfully move into the Cathedral School and develop a home which Meets the needs of our artists, participants and audi¢n¢¢s. GOAL 2: Pcrformance and Events To increase the ambition and quality of our perfonnance and producing work. GOAL 3: Education and Training To increase progression routes for everyone to have the opportunity to develop circus and street theatre skills at their own level. GOAL 4: Social Circus Outreach To harness the power of circus to support the health and wellbeing of people and communities. and encourage them to reach their potential. GOAL 5: People and Culture To ensure ihat we have the right people to support us in achieving our goals, and that they are supported, nurtured, and given opportunities to grow. Our Commitments 2024-2028 COMMITMENT I: Communications To continue to raise our profile locally, nationally and internationally, communicating with a consistent voice and confidence in our brand. Page 3
In Your Space Circus Ltd (A company limited by guarantee) Report of the directors for the year ended 31 March 2024 COMMITMENT 2: F5nance To ensure we raise the income we need to achieve our goals and that these resource5 are managed effectively and transpar¢ntly. COMMITMENT 3: Governance To ensure the governance of In Your Space Circus Ltd reflects the visionary, ambitious and creative ethos of the company and ¢ff¢ctively balan¢es ¢r¢alivo aspiration with compliance and best prdctise. COMMITMENT 4: Changc Making To support the development of advocacy, lobbying and practice in relation to circus and the arts. COMMITMENT 5: Artl$tlc Excellence To support the highest quality delivery in circus education and perforn]ance while encouraging skills and talent development at all levels of circu5. 2023-2024 in Brief Introductlon: 2023-2024 ha5 been another cxciting, developmental and highly creative year for In Your Space Circus Ltd. We have had the opportunity to create neiv work, make significant developments to the Circus School und provide interesting work for local artists. In Your Space Circus Ltd has also managed to strengthen its infrastructure and build resilience through developing the staffing stru¢lur¢, growing income, and building reserves. This has put th¢ Company on an ¢x¢¢llent footing for the coming year. Our ProgrAmme for the year Our circus school and social circus outreach work grew significantly over the period, delivering the following range of programmes: S¢¢dlings Circus: weekly classes for age 4-8 year5. Youth Circus: Weekly classes for age 9-18 years. Aspiring Leaders,. A progressive pathway programme for youth circus members seeking to work in circus. CircAbility'. Weekly Classes for children with autism. Adult Circus: W¢¢kly classes for adults. Silver Circu5: Classes and programmes for people aged 55 plus. Aerial: Weekly aerial classes for ages 4-adult. Masterclasses: Specialist Classes and programmes delivered by guest trainers and artists. General Outreach Circus: workshops for youth, community and school groups across Northern Ireland. Circus Together.. Good Relations project aimed at schools and community groups. In total we delivered 774 sessions, reaching 5,400 participants. We delivered our Festival, Carnival of Colours in Derry City Centre, to an audience of14.000 across the weekend, This included a broad demographic. wilh a focus on families, young people and those with limited experience of the arts. We attracted a combination of local people and visitors to the city. Through our animation and street theatre producing work we delivered 342 perforniances at events with audiences totalling almost 300,000. Highlighis included: Page 4
In Your Space Circus Ltd (A company limited by guarantee) Report of the directors for the year ended 31 March 2024 Development of new work for the Derry Halloween Festival A mini-festival package for Spring Carnival Creation of new superhero-themed street theatre acts Continued collaborative working with Dery Feile, producing the 'The Greatest Show, Exciting Developments (highlighting just a few of many significant developmcnts) l. Following on from thc development phase during 2022-2023, our work on a major project with University of Ulster, Circusful, the Imperial War Museum and French acrobatic collective 'Compagnie XY, was a highlight of the year. 30 acrobats (local and international) descended upon the city in August 2023 to creat¢ and perfonn After The Rain inside the Guildhall and outdoors in Ihe Guildhall Squar¢. This collaboration marked the 25th Anniversary of the Good Friday A8reement in 2023 and was supported by the Imperial War Museum's 14-18 NOW Legacy Fund. 2. We continued working on the major capital project, fundraising and planning for the move into the Cathedral School, a stunning heritage building located in the Cathedral Quarter area of the city. At the end of the year we secured £600,000 from the Community Ownership Fund- this was a big b005t for the proj¢ct. 3. Circus School developments which included- Focusing on quality of exisling programmcs. Growing Ihe Iraining team, including developmcnt of th¢ Aspiring Leaders programme. Growth of our CircAbility project for children with autism. Development of the Silver Circus rescarch project. exploring benefits of circus for people aged 55 plus. Engaging in Circus Explored, a collaborative project with six circus schools across the island of Ireland. Providing opportunities for participants to participate in exchanges and visits to nurture their passion for circus, 4. Circus School developm¢nls which included: R¢stru¢turing the Central Circus Cla55es. ro¢using on quality of existing programmes. Growing the training team, including development of the Aspiring Leaders programme. Launching our CircAbility project for children with autism and our Silver Circu5 project for older people. Beginning the process of developing OCN accreditation. Providing opportunities for participants to participate in exchanges 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 2023-2024 we successfully secured funding and sponsorship from the following bodie5. - Arts Council of Northern Ireland - Annual Funding Programme Health and Safety Cllpital ProgrHmme - Arts and Older People Programme Commissioning Prograinme Dery City and Strabane District Council - Cultural Venues Fund Headline Events Strategic Good Relations Fund Small grants for Culture Night and Good Relations week - The Community Foundation for Northern Ireland - The Executive Office Esmee fairbairn Page 5
In Your Space Circus Ltd (A company limited by guarantee) Report of the directors ror the year ended 31 March 2024 Arts and Business Nl Blueprint Programme Investment Programme British Science Association with the Wellcome Trust - Ideas Fund Public Health Agency - Clear Project The National Lottery Heritage Fund The Architectural Herilage Fund Halif&x Foundation Ulslcr University Garfield Weston foundation We would like to thank all our funders for sUPPOrting In Your Space Circus Ltd this year. The projects and programmes which were funded allowed u5 to be creative, experimental and to help improve the lives of our participants and audienccs. Structurc, Govcrnance and Management During the period In Your Spac¢ Circus Ltd has ensured 5tubility in structure, governance and management. Board meetings have been regular and consistent. and Board sub-groups have met to discuss specific issues and developInents. The CoThpany structure for 2023-2024: Board of Directors. Responsibility: Governance and stral¢gy a¢¢ountability for the Company. 2. Company Dir¢ctor Responsibly.. Oversees the development and execution of strategic plans to drive growth and su¢¢ess of th¢ company. 3. Creative Director Responsibility.. Defines and maintains In Your Space Circus Ltd visual brand, ensuring that creative works are cr¢ated and delivered in line with Company ethos and resonate with our target audiences. 4. Circus Education Director (thi5 rol¢ became vacant in June 2023) Responsibility: strategi¢ development of ihe education and training programrnes to rnaintain and grow membership* strengthen our connections with statutory and volunlary provlders and increase the company's credentials as an arts training organi5Ution. 5. Admin and Finance Officer Responsibility.. Managing Company finance systems and supporting admin functions. 6. H¢rilage Project Manager Responsibility: Managing the Cathedral School development project. 7. Project Coordinator Responsibility.. Coordinating various projects across Circus School activity. 8. Assistant Producer Responsibility: Supporting events and festivals pro(rramming and delivery. Page 6
In Your Space Circus Ltd (A company limited by guarantee) Report of the directors for the year ended 31 March 2024 Conclusion and Looking Forward We are delighted to hav¢ had a cr¢ativ¢ and successful y¢ar in t¢nns of income, participation, audience development and public profile. We are confident that w¢ hav¢ demonstrated r¢sili¢n¢¢ and sustainability thi5 year while making dynamic strategi¢ decisions around d¢velopment. Financial Review The financial perfonnance is summarised in the enclosed accounts. Responsibilities of the Board of Directors Tlie directors are responsible for preparing the Directors Report and the financial stat¢m¢nts in accordance with applicable law and Unit¢d Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the director5 to prepare financial statements for each financial year that give a true and fair view of th¢ state of th¢ afyairs of th¢ charity and of the incomtng resources and application of resources, including the incoine and expenditure, of the charitable company for that period. In preparing these financiul stateinents, the directors are required to: observe methods and principles in lh¢ charities SORP(FRS102); select suitable accounting policies and apply them consistently. make judgements and estimate5 that are reasonable and prudent; prepare financtal statements on the going concern basis unless it is not appropriate to assume ihat the charity will continue on that basis- state wheiher applicable UK Accounting Standards have been followed, subject to any material departures disclosed and expluined in ihe financial statements. The directors are r¢sponsibl¢ for maintaining proper accounting records that are su1Clent to show and oxplain th¢ charity's transactions and disclose with reasonable accuracy at any time ihe financial position of the charity and enabl¢s them to ensure that the financial statements comply with the Companies Act 2006. The directors are also responsible for safeguardins the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities. In accordance with company law, as the company's directors, we certify that: So far as we are aware, there 15 no relevant audit inforniation of which the company's auditors are unaware. and as the dir¢ctors of ihe company we have taken all steps we ought to have taken in order to make ourselves aware of any rel¢vant audit inforniation and to establish that the charity's auditors are awar¢ of that infomation. Auditor'5 McGroarty M¢Cafferty & Company are deemed to be reappointed as in accordance with Section 487 (2) of the Companies Act 2006. This report is prcpared in accordunce with the special provisions of Part 15 of the Companie5 Act 2006 relating to small compani¢5. The financial statements were approved and authorised for issue by the board on 8 November 2024 and signed on its behalf by; Dircctor Direeto d p LA LTthJts aEe7
In Your Space Circus Ltd (A company limited by guarantee) Indcpendcnt auditor's report to the members of In Your Space Circus Ltd Opinion We have audit¢d the financial stat¢ments of In Your Space Circus Ltd for the year ended 31 March 2024 which compris¢ the Statement of Financial Activities, the Balance Sheet, the Cashflow Statemcnt and th¢ r¢lated notes. The financial reporting framework that has been applied in their prepardtion is applicable law and United Kingdom A¢¢ounting Standards (United Kingdom Generally Accepted Accounting Practice) including fRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" This report is rnad¢ sol¢ly to the charitable company's directors, as a body. in accordance with Chapter 3 of Part 16 of the Cornpanies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's directors 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 charitabl¢ company and ihe charitable company's directors as a body* for our audit work, for this report, or for the opinions we have fornied. In our opinion the financial slatem¢nts'. give a true and fair view of the state of the charitable company's affairs as at 31 March 2024, and of its incoming resource5 and expenditure of resources, including its income and expenditure, for the year then ended; have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practic¢; have been pr¢pared in ac¢ordttnce with the requirements of the Companics 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 tl)05e standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our r¢port. We are indepcndent of the charitable company 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 wc have fulfilled our other ethical responsibilities in accordance with these requirements, We believ¢ that thc audit evidence we have obtained is sufficient and appropriat¢ to provido a basis for our opinion. Con¢luslons r¢lating to going concern In auditing the financial 5tat¢ments, wc hav¢ concluded that th¢ dir¢Gtors' u5¢ of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfonned, we have not identified any rnaterial uncertainties relating to events or conditions that, individually or collectively. may Cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when ih¢ financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect lo going concern aro described in th¢ r¢lovant sections of this report. Other information The directors are responsible for the other inforniation. The other inforniation comprises the inforniation included in the directors, annual report, other than th¢ financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover other inforniation and, except to the extent otherwise explicitly stated in our report, we do not express any forni of assurance conclusion thereon. In Connection with our audit of the financial statements, our responsibility is to read th¢ other information and, in doing so, consider whether tlie other infornlation is materially inconsistent with the financial statements or our knowledge obtained in the audit or otheNise appear5 to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to deterinine whether there is a material mi55tatement in the financial 5tateinents or a matcrial misstatement of the other infonnation. If, based on th¢ ivork we have performed, we conclude that there is a material misstatement of this other inforniation, we are required to report that fact. We have nothing to report in this regard. Page 8
In Your Space Circus Ltd (A company limited by guarantee) Opinion on other mattcrs prescribed by the Companies Act 2006 In our opinion based on the iyork undertaken in the Course of the audit.. the information given in the Directors, Annual Report for the financial year for which the financial statements are prepared is consistent with the financial slatemcnts: and the Directors Annual Report ha5 been prepared in accordance with applicable legal requirements. Matters on which we are required to report by exceptlon In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors Annual Report. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting records have not been kept. or the financial statements are not in agreement with the accounting records and returns. or certain disclosures of directors, remuneration specified by law are not made. or we have not received all the inforniation and explanations we require for our audit; or the director5 were not entitled to prepare the financial statements in accordance with the small companies re8irne and take advantage of the small companies exemption from the requirement to prepare a strategic report. Responslbfilltles of the dlrectors As explained mor¢ fully in the Directors, Responsibilities Statement set out on page 6, the directors (who are also the directors of the charitable company for ihe purposes of company law) are responsible for the preparntion of the financial statements and for being satisfied that they give R true ond fair view, and for such internal control as the directors deterniine 15 necessary to enable the preparation of financial 5thtements that are free from material misstatemcnt, whether due to fraud or error. In prepuring the financial stateinents, the directors are responsible for assessing the charitable company's ability to continu¢ as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accountins unless the directors either intend to liquidatc the charitable company or to ccasc operations, or hav¢ no realisti¢ alternative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obiain reasonable assurance about whether the financial statements as a whole are free from material misstalement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assuran¢¢ is a high l¢v¢l of assuran¢¢, but is not a guarant¢¢ that an audit conduct¢d in accordance with ISAS (UK) will always detect a Inaterial 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 the economi¢ decisions of users taken on the basis of these financial statements. Explllnation as to what extent the audlt was consldered capable of d¢te¢ting irrogulariti¢$, Includlng Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedure5 in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularitie5, including fraud. However, the primary responsibility for the prevention and detection of fraud lies with management and the board of dir¢¢tors of the cliaritable 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 considered the following- the nature of the industry. sector and the specifIc control environment which it operates in. Page 9
In Your Space Circus Ltd (A company limited by guarantee) the charities oivn asse55ment of the risks that irregularities may occur, either as a result of fraud or error. reprcscntations and results from our enquiries with management and the board of directors regarding their own idcntification and assessm¢nt of the risks of irregularities. ¢nquiries of management relating to accounting e5timate5 measurements, recognition criteria and justification of such amounts; any matters we have identified having obtained and r¢vi¢wed the Charities policies and procedures relating to; identifying and assessing if laws and regulations are compliant and whether th¢y ar¢ aware of any instances of non-compliance. detection and response to the risk of fraud and whether they are aware of any actual, susp¢¢ted or alleged fraud instances; * the internal controls designed to mitigate risks or fraud or non-¢ompliance with laws and re8ulations, and to minimise risk of mana8ement overrides of such controls. all matters discussed among th¢ audit engagement team regarding how and where fraud could occur and the potential indicators of fraud. As a result of these procedures, we considered the opportunities and incentives that may exist within the charity for fraud. The audit included assessing the procedures and evaluating the measuremcnt of estimations. In common with all audits under ISAS (UK), we are also required to perforni specific procedures to respond to the risk of management override. Based on our understanding of the charitable company the most significant legal and regulatory frameworks that have a direct iinpuct on the financial Statements are those relating to the applicable reporting framework, (FRS 102, The Charities Act (Nortliern Ireland) 2008, Tlie Cliarities (Accounts and Report) Regulations (Northern Ireland) 2015. the Charity SORP ond the Companics Act 2006) non-compliance may hovo a material effect on ihe financial Statements. Compliance with these laws and regulations was assessed as part of our procedures. Audit responses to rislL8 identified Our procedures to rcspond to risks identified included the following: reviewing the financial statement disclosur¢5, testing th¢ relevant documentation to assess cornpliance with the significant laws and regulations those described as havin8 a direct effect on th¢ financial statements. enquiring with management and obtaining third paty confirniation from the Charitie5 Solicitor5 regarding any actual or potential litigation and claims; performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud; reading minutes of board and management meetings, examine forecasting material in line with actual perforniance, identifying any potential fraud indicator5 or instances; reviewing Companies House and Charity Commission Northern Ireland correspondence, identify any latc submissions or omissions of mandatory inforniation. review correspondence with HMRC, identifying non compliance of specific tnfonnation to be disclosed; in addressing the risk of fraud through management override of contro15, testing the appropriateness of data entries and adjustments, assessing wheth¢r the judgements made in making accounting estimates are indlcative of a potential bias; and evaluating the rationale of any significant transactions that arc unusual or outside the nornial course of the Charities objectives. We also communicated relevant identifi¢d laws and regulations and potential fraud risks to all engagement team m¢mbers and remained alert to any indications of fraud or noncompliance with laws and regulations throughout the audit. As part of an audit in accordance with ISAS (UK). we ex¢rcis¢ professional judgment and maintain professional scepticism throughout the audit. We also: Page 10
In Your Space Circus Ltd (A company limited by guarantee) Identify and assess the risks of material misstatement of the financial statements, 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 ol not detecting a material misstatement resultino from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery. int¢ntional omissions, misrepresentations, or the override of internal control. Obtain an underslanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstance5, but not for the purpose of expressing an opinion on the etTectiveness of ihe charitabl¢ company's internal control. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures Inade by the directors. Conclude on the appropriat¢n¢ss of the directors, use of the going conccrn basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are r¢quir¢d to draw attention in our auditor's report to the related disclosures ln the financial statements or, if such disclosures are inadequate, to Modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of the auditoffs report. However. future events or conditions may cause the charitable company to cease to continue as a going ¢oncem, Evaluate tlic overall presentation, slru¢tur¢ 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 with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any signifi¢ant doficien¢i¢s in internal Control that w¢ id¢ntify durin8 our Audit. Mr Patrick McGroarty Senlor Statutory Audltor for and on behalf of McGroarty Mccafferty & Company Statutory Auditor 2 Carli51e Terrace Derryi BT48 6JX Date: Page 11
In Your Space Circus Ltd (A company limited by guarantee) Statement of Financial Activities For the year ended 31 March 2024 Unrestricted Restricted Designated funds funds funds 2024 Total 2023 Total Notos Incomlng Rcsourccs Grants & Other Lncome 267,146 449,469 716,615 688,577 Total Incoming Resources 267,146 449,469 716,615 688,577 Resources Expended Direct Charitabl¢ Expendilure Management & Administration 212,647 18,788 398,209 47,336 610,856 66,124 476,026 72,410 TotAI Resources Expondcd 231,435 445,545 676,980 548,436 Net incomingl(outgoing) resources for the year 35,711 3,924 39,635 140,141 Total funds brought forward 1?5,000 31,728 91,507 248,235 108,094 160,711 35,652 91,507 287,870 248,235 Transfers between funds (35,711) 35.711 Total funds carried fonvard 13. 125,000 35,652 127,218 287,870 248,235 All of thc abov¢ amounts relate to continuing activities. The company ha5 no recognised gain5 and 105ses other than those included in the results above and therefore no seperate statement of r¢cognised gains or losses has been presented. Tliere 15 no difference betsyeen the net incoming resources for the year stated above and their historical cost equivalents. The notes on pages 15 to 22 form an integral part of these financial statements. Page 12
In Your Space Circus Ltd (A company limited by guarantee) Balance Sheet as at 31 March 2024 2024 2023 Notes Fixed a55ets Tangible assets 27,744 28,412 Current assets Debtors Cash at bank and in hand 75,591 243,761 52,450 324,294 319,352 376,744 Credltors: amounts fallRng duc withln one ycar io. (59,226) (156,921) Net current assets 260,126 219,823 Net assets 12. 287,870 248.235 Fund$ Restricted funds Unrestri¢ted funds Designated fund5 13. 35,652 125,000 127,218 31,728 125,000 91,507 19. Total funds 287,870 248,235 These accounts have been prepared in accordance with the special provision5 of Part I S of the Companies Act 2006 and the Charitics SORP 2019 (FRS 102). Th¢ financial statements were approved and authori5ed for issue by the board on 8 November 2024 and signed on its behalf by Director flxts LW (AKFJ Director Company Registration No: N1050953 EAI AJ CL(¥LPE The notes on pages 15 to 22 form an integral part of these financial statements. Page 13
In Your Space Circus Ltd (A company limited by guarantee) Cash flow statement for the year ended 31 March 2024 2024 2023 Notes Net incoming re50urce5 for the year Depreciation and impairnient {Incr¢ase)ID¢cr¢as¢ in debtors (Decrease)/Increase in creditors 39,635 15,050 (23,141) (97,697) 140,141 18,892 6,363 17,759 Net casb (outflow)linflow from operating activitlcs (66,153) 183,155 Capital expenditure (14,380) (11,775) (Doercase)Ilncrease In cash In the year (80,533) 171,380 Reconciliation of net c#sh flow to movement In net funds (Dccrease)Ilncrease In cash In the year Net funds at l Aprfil 2023 (80,533) 324,294 171,380 152,914 Net funds at 31 March 2024 14 243,761 324.294 Page 14
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 General information The rharity is a private limited company by guarantee, registered in Northern Ir¢land and a regist¢rcd charity in Northem Ireland. The address of the registered office is Waterloo House, 44A-48A Walcrloo Street, Derry, BT48 6HF. It is registered as a charity with th¢ Charity Commission Northern Ireland with effect from I l June 2015. Accountlng conventloD The significant accounting policies applied in ihe preparation of these financial Statements are set out below. Thes¢ policies have been consistently applied to all years presented unless otherwise stated. The charity constitutes a public benefit entity as defined by FRS102. The financial statements have been prepared in accordan¢¢ with the a¢¢ounting policies set out in note5 to the accounts and comply with the charity's governing document, the Charities Act (Northern Ireland) 2008 and Accounting and Reporting by Charities: Statement of Recominended Practice applicable to charities preparing their accounts in accordance with the 'inancial Reporting Standard applicable in th¢ UK and Republic of Ireland published in Oelober 2019 (SORP 2019) and the Companies Act 2006. The financial Statements are prtpllred on a going concern basis under the historical cost convention, modified to included Certain iteffls at fair value. The financial staiements are presented in sterling which is the functional urrency of the charity. Incoming resources Incoming resources are included in the SOFA when th¢ charity is legally entitled to the income and the amount can b¢ qualified with r¢asonable accuracy. The following specific policies were applicd to particular ¢at¢gories of income: Grants and other income ar¢ received by way of grants, donations and gifts and is included in full in the statement of financial activiti¢s wh¢n rec¢ivable, Grants wh¢r¢ ¢ntiil¢m¢nt is not conditional on the delivery of a specific perfonnance by the charity, are recognised when the charity becomes unconditionally entitled to the grant. Revenue grants are credited to the Statement of Financial Activities in tho year they are received. 1.3. Resources oxpcnded All expenditure is accounted for on an accrual basis as a liability 15 incurred and has been classified under headings that aggregrate all costs related to the category. Charitabl¢ exp¢nditur¢ comprises those costs incurred by th¢ Charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activitie5 and those costs of an indirect nature to support them. 1.4. Fund Accounting Unrestricted fund5 are available for use at the dt5cretion of the director5 in furtherance of the general objectives of the charity. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donor5 or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against tlie specific fund. Designated funds are 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 the year ended 31 March 2024 1.5. Tangible fixed assets and deprcciation Tangibl¢ fixed asset5 are stated at cost less ar¢umulated depreciation. Depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows: Equipment Fixtures & fittings Motor vehicles I 00/0 straight line 20 /0 Straight line 25 % straight lino 1.6. Cash at bank Cash at bunk and cash equivalenls are stated at cost at the financial year end. 1.7. Debtors & creditors Debtors and creditors with no stated interest rate and receivabl¢ or payable within one year are recorded at transaction price. Any1055es arising from impairnient are r¢¢o8nised in expenditure. 1.8. Company status The charity is a company limited by guarantee and does not have a share capital. 1.9. Pension costs Contributions to auto enrolmcnt pension schemes are recognised as an expense in tlie period to which the servic¢ related to. 1.10. C&pAtal Grants In line wilh SORP Capital Grants Are released to incoming resourc¢s in the Statement of Finan¢ial Activiti¢5. Capital Grants are released at a rate of l 00/0 on a straight lin¢ basis. 1.11. Going con¢ern The financial statements have bc¢n prepared on a soing concern basis os the directors believe that no material uncertainties exist. Th¢ directors have considered the Icvel of funds held and the expeclcd level of income and cxpcnditure for 12 month5 from authorising theso financial statements. The budgeted income and expenditure is sufficient with the level of reserves for th¢ charity to be able to continue as a going concem. 1.12. Critical accountlng estimates and judgements In application of the charity's accounting policie5, the directors are required to make judgements, estimates and assumptions about the ¢arrying amount of assets and liabilities that ar¢ not readily apparent from other sources. The estimat¢s and associated assumptions are based on historical exp¢ri¢nce and other factors that are considered to b¢ relevant. Actual results may differ from these estimat¢s. The estimates and underlying a55umptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affect on that period, or in the period of the revision and future period5 where the revision affects both current and future p¢riods. 1.13. Designated Funds Designated funds are to ensure that there are adequate funds to cover six months operational and core costs of the charitable cornpany. The designated fund balance at 3 1st March 2024 is £127,218. Page 16
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 Voluntary Income 2024 Tolal 2023 Total Restricted In me Th¢ National Lottery Heritage Fund Public Health Agency- CLEAR Project Art & Business NI - Blueprint Art & Business Nl - Investment Programme The Community Foundation Northcrn Ireland Derry City & Strabane District Council Esmee Fairbairn Foundation Archil¢¢tural Heritage Fund Garfield Weston Foundation Halifax Foundation for Northern Ireland Arts Council of Northern Ireland The Executive Office British Science Association University Ulster- Compagni¢ XY Tourism Northern Ireland 70,217 5,000 20,250 5,500 8,286 50,530 10,461 8,040 10,000 3,560 94,199 44,725 31,176 87,525 9,300 5,000 11,714 45,636 59,374 2,145 111,323 42,670 4,784 33.913 5,000 449.469 330,859 Unrestricted In me Performanc¢ Fees & Event Income Participant Fees Workshop Income Big Top & Equipment Hire Department of finance Public Donations Lock-up Rent Deposit Interest Sponsorship Merchandise Sale5 University Ulster- Compagnie XY Covid Job Retention Scheme- Wages grant 169,234 28,839 29,489 3,653 229,896 32,656 37,830 18,195 26,400 3,974 4,100 3,837 4,264 3,519 17,300 3,750 6,000 917 267,146 357.718 Total Incoming Resources 716.615 688,577 (i) Restricted Funds Funds received which are eannarked by the funder for specific purposes. Such purposes are within the overall aims of the organisation. Unrcstricted Fund5 Funds which are expendable at the discretion of the cornpany in the futherance of the aims of the charity. In addition ndS may be held in order to finance capital investment and working capilal. Page 17
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 Total Resources Expended Unrestrleted Rcstri¢ted lunds funds 2024 Total 2023 Total Management & Administralion Rent & Rates Insurance Repairs & Renewals Printing, Postage & Stationery otTice overheads Advertisin Motor Running Expense5 Audit Remuneration Bank Charges Governance & Training Bad Debts Depreciation Charge 329 1,437 1,367 295 5,079 1,443 7,608 18,141 4,897 2,529 1,211 2,135 18,470 6,334 3,896 1,506 7,214 1,443 7.751 3,000 982 230 248 15,050 17,441 5,485 1,957 3,620 8,012 1,503 8,510 3,300 815 2,875 143 3,000 982 230 248 15,050 18,892 18,788 47,336 66,124 72.410 Unrc5tricted Restrlcted funds funds 2024 Total 2023 Tot21 Dlrect Charitablc Exp¢ndilvre Wages & Salarics Freelance Expenses Materials & Event Cosls Circus School Circus Outreach Expenses Carnival of Colours Expenses Cirability Expenses Good Relations Expenses Artist Developinent Expenses Aspiring L¢aders Expenses University of Ulster Expenses Rethink Expenses Cathedral School Expenses Silver Circus Expenses Circus Explored Expenses Circus Play Together Expenses Joe Deiffenbacher Workshop 14,936 115,640 18.294 1 S,923 22,156 12,225 320 922 1,821 992 8,188 121,480 136,416 115,640 33.693 38,981 33,268 40,571 5,705 26,121 3,732 7,265 74,362 124.104 146,001 26,404 29,480 35,595 36,450 10,507 32,597 1,763 3,443 17,627 438 2,400 9,217 15,399 23,058 11,112 28.346 5.385 25,199 1,911 6,273 66,174 130 175 49,496 27,482 5,014 1,420 10,460 49,626 27,657 5,014 1,680 11,125 260 665 212.647 398,209 610,856 476,026 Total Expenditure 231,435 445,545 676,980 548,436 Page 18
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 Net in¢omlng resources for the year 2024 2023 Net incoming resources is stated after charging: Depreciation and other amounts written off tangibl¢ fixed assets Auditor's remuneration 15,050 3,000 18,892 3,300 Auditors, remuneratloD The auditor's remuneration amounts to an audit fe¢ of £3,000 (2023 - £3,300). Employees 2024 2023 Wages and salaries Pension costs 128.909 7.507 119,790 5,101 136.416 124,891 No employee received emoluments of more than £60,000 (2023 Nil). The directors, neither received nor waived any emolum¢nts during the year (2023: Nil). Number of employees The average monthly numbers of employees during the year, calculated on th¢ basi5 of full time equivalents, was as follows: 2024 Number 2023 Number Average employees Taxation As a charity, In Your Space Circus Ltd is exempt from tax on income and gains falling within section 505 of the Taxe5 Act 1988 or $256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its chargeable objects. Accordingly, no tax charges have arisen in the charity. Page 19
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 Fixtures, rittings and equlpment Tangible fixed assets Motor vehleles Equipment Total Cost At l April 2023 Additions 74,530 14,380 21.189 78,950 174,669 14,380 At 31 March 2024 88,910 21,189 78,950 189,049 Depreciation At l April 2023 Charge for th¢ y¢ar 54,592 10,812 12,713 4.238 78,950 146,255 15.050 At 31 March 2024 65,404 16,951 78,950 161,305 Net book values At 31 March 2024 23,506 4,238 27,744 At 31 March 2023 19,938 8,474 28,412 Debtors 2024 2023 Grants & other income receivable 75,591 52,450 10. Credltors: amount$ falling due within one year 2024 2023 Credit card Other laxes and social security Other creditors Deferred income (see note I l) Accruals and deferred income 2,396 3,303 9,317 263 127,284 16,754 263 39,231 17,336 59,226 156,921 Page 20
In Your Space Circus Ltd (A company limited by guarantee) Notes to financial statements for the year ended 31 March 2024 11. Deferred income 2024 2023 At l April 2023 Additions in the year Amounts released to in¢om¢ 127,284 282,954 (449,469) 115,619 87,956 (330,859) At 31 March 2024 39,231 127.284 12. Analysis of net assets between funds Unrestrlcted Restrlcted Deslgnated funds fund5 funds Total runds rund balances at 31 March 2024 as represented by: Tangible fixed assets Current assels Current liabilities 27,744 47,774 (39,866) 27,744 319,352 (59.226) 144,360 (19,360) 127,218 125,000 35,652 127,218 287,870 13. Movements in Funds At l April Incoming Outgoing 2023 re$our¢es resour¢e$ Transfers At 31 March 2024 Re5trlctod funds: Restricted funds 31,728 449,469 (445,545) 35,652 Unrestrlcted funds: General Funds 125,000 267,146 (231,435) (35,711) 125,000 Total unrestricted funds 125,000 267,146 (231,435) (35,711) 125,000 Designated funds (91,507) 156,728 35,711 127,218 716,615 (676,980) 287,870 Pur Oses of Restricted Funds Restricted grants awarded to the charity is provided to cover 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 2024 14. Analysls of changos In net funds Op¢ning balance Cash llows Closlng balance Cash at bank and in hand 324,294 (80,533) 243,761 15. Related party transactions There were no r¢lal¢d party trdnsactions in the period under review. 16. Company limited by guarantee The company is limited by guarantee and does not have a share capital. 17. Controlllng Interest The charitable company is under the control of the Directors. 18. Post BalaDCC Sbeet events No significant events have taken place since the year end that would result in adjustments to 2024 financial infonnalion or inclusion of a note thereto. 19. Designated Funds The Company aspircs to maintain the balance of unrestricted reserves at a level which ensure5 that there are sutyicient funds to cover six months, running costs and essential programming* should there be a funding shortfall. The board has also approved a designated reserve fund of £127,218 for the Cathedral School Dev¢lopm¢nt project and a restri¢ted r¢5erve for committed projects, A detailed reserves policy is available to view on request. Page 22