Company registrdtion number: Nt071560 Charity registration number: 103081 Fuel Events (A company limited by guarantee) Annual Report and Financial Statements for the Year Ended 31 January 2024 'AOUJ6QIB* 1810112025 COMPANIES HOUSE A07
79
Fuel Events Contents Referencc and Administrative Details Trustecs, Report 2to4 Independent Examinefs Report 5t06 Statement of Financial Activities Balance Sheet Notes to the Financial Statements 9t0 16
Fuel Events Reference and Administrative Details Tru$te¢$ Mr Paul McNeilly Mr5 Lorraine McNeilly Mr Ian David Somerville Ch4rity Registrgtion Number 103081 Company Registration Number N1071560 The charity is incorporated in Northern Ireland. 91 Shankbridge Road Kells Ballymena Co Antrim BT42 3DL ReElStered Office IndependeDt Eximiner Ryan McFaul D T Carson & Co 51 . 53 Thomas Street Ballymena Co. Antrim BT43 6AZ Solicltors: L'estrartge & Brett 7-9 Chichcstcr Street Belfast BTI 4JG ' Bankers Ulster Bank 49 Wellinglon Street Ballymena Co Antrim BT43 6AD Page I
Fuel Events Trustees, Report The trustee5, who are directors for the purposes of company law, present the annual report together with the financial statements and auditors, report of the charitable company for the year ended 31 January 2024. The finan¢i&l statements are also prepared to meet the requirements for a directors, report and accouJJts for Coinpanie5 Act 2006 purposes. The finanei41 staiements comply with.the Charities Act 2008, the Companies Act 2006. the Memorandum and Artitles of Association, and Accounting and Reportin8 by Charities.. Statemeni of Recommended Practice applicable in the UK arbd Rcpubli¢ of Ireland (FRS 102) (effective l Jan 2019). Objettives and aetivities Objects and QinL Th¢ Company is a re8isler¢d charity which s¢ck5 to Jdvanc¢ Ihc Chrisiian religion for the benefit of the public through the holding of public events whi¢h promo1¢ Christian music, film and art and which is op¢n to and unit¢5 all people in the community, rc8ardless of group or cultural classifi¢ation. The company aims to promote innovation in Christian music. film, art and technology, to produce and present ultural and educational evenls: to ¢ommission and iour new works of art: to broaden a¢¢ess and offer new opportunities for education. ¢0 offer event management to community and voluntary art5 organisations; to provide a link between creAlive industries, technology and education and to provide work experien¢e and skills development. Fundrolslng dlsclosures The company has power to invite and accept subscriptions, donations, demises and bequests and to hold public events. Achievements and performance Fin#neiAI review The charity received no income from chariiable activites during the year (2023.. £3,500) and expenditure on charitable activities was £1,017 (2023: 2.574). Charitable actiVilies,have continued to be significantly ¢urtailed in recent y¢ars RS & result of the Covid 19 resirictions. Pollcy on raerves The charity aims to keep a small amount in reserves as there are no substantial ongoing commitments. Trustees gnd offic¢rs The trustees serving during the year and since the year end were as follows: Trustees: Mr Paul McNeilly Mr5 Lorraine McN¢illy Mr lan David Somerville Page 2
Fuel Events Truste, Report Structure? governance and management Nalure ofgoverning doc4menl Fuel Events is a company limited by guarAntee and is also a re¢ognised charity. The company's governing document 15 the Memorandum and Articles of Association. In the event of the cornpany being wound up trustees are required to contribute £1. Recruilmenl and oppolntment of Irustees Unless otherwise deterniirted by ordinary rcsolution, the number of tru5tces shall not bc Icss than thre¢ but shall not be subject to a maximum. No person may be appointed as trustee unless they have attained the age of 18 and have not previously been disqualified. Induellon and tr41nlng oflrmstees All Tru5tecs are familiar with the role of th¢ charity through their Trustecship of the company. New Trustees would attend an orientation meeting to briefthem on iheir legal obligations and responsibililics AS Trustees. Arrangementslor settln8 key managemenipersonnel pemutterallon The company has the power to employ persons or to pay for the services of persons to achieve and manage thc objects of ihe Company in it's ordinary day to day activities. ' No remuneration has been paid during the year, Organisational struclure The or8anisation is mana8¢d and directed by its Trustees. Relationships with related PArti¢s Trustees None. of the trustees have been paid any remuneration or received any other benefits from an employment with the ¢harity or a related entity. Details of transactions and balances wilh trustees Can be found ai Notel4. FinAnclAI Inslruments Objeclives andpollcles The charity's activilies cxpose it to a number of financial risks including or¢dit risk, cashflow risk and liquidity risk. Tl)e ¢harity does not use derivative financial instruments. Liquidily risk In order lo maintain liquidity to ensure that sufficient funds are available for ongoing operations and future developments. Page 3
Fuel Events Trustees, Report The trustees (who are also ihe directors of Fuel Events for the purpose5 of company law) are responsibl¢ for preparing the trnstee5' report and the financial ststements in a¢¢ordance with applicable law and United Kinsdom Accounting Standards (Uniied Kingdom Generally Accepted Accounting Practice), includin8 FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must nol approve ihe financial statemenls unless they are satisfied that they give a true and fair view of the slate of affairs of the chariiable ¢ompAny ond of the in¢oming resources and applicotion of resources, including ils income and expenditure. of the charitable company for tha¢ period. In preparing these financial slalemenls, the trustees are required to.. select suitable accounting policie5 and apply them consistently. observc the methods and prin¢iples in the Charities SORP; make judgements and estimates that are reAsonable and prudent: siaie whciher applicable accounting slandards, comprising FRS 102 have been followed, subject lo any material departures disclosed and explained in the financial statements. and prepare the financial statements on Ihe goin8 ¢on¢em basis unless it is inappropriate 10 presume thai the charitable rnpanY will continue in business. The Iruslees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the Charitable comp8ny and cnable them 10 ensure that ihe financial statements omply with the Companies Act 2006. They are also responsible for safeguardirtg the assets of the charii&ble company and hence for taking reasor)able step5 for the prevention and deiection of fraud and other irregularities. Small companies provision ststemtnt This report been prepared in accordance with the small companies re8ime under the CompAnies Act 2006. The annual report was approved by the trustees of the charity on 9 January 2025 and signed on its bchalf by.. Mr Paul McNeilly Trustee Page 4
Fuel Events Independent Examiner's Report to the trustees of Fuel Events ('the Company,) I report to the charity Irustees on my examination of the accounts of the Company for the year ended 31 January 2Q24. Respective responsibilities of trustees and exRminer As the charity trustees (and also Ihc directors of the Company for the purposes of company law) you are responsible for the pr¢pardtion of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.). Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent examination, it is my responsibility to: ¢xamine the accounts under section 65 of the Charities Act (Northern Ireland) 2008; follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9Kb) of the Charities Act. and state wheiher particular matters have come to my attention. Bo$i$ ofindependent examiner'5 report have examined your Charity accounts as required under seciion 65 of the Charities Act and my examinalion Was carried out in accordance wilh the general Directions given by ihc Charity Comrnission for Northern Ireland under se¢iion 65(9)(b) of the Charities Acl. The examination included a review of ihe a¢¢ounlin8 records kept by the charity and a comparison of the a¢counts presented with those record5. It also in¢lud¢s consideration of any unusual items or disclosures in the '•a¢counts. artd seekin8 explanation5 from you as charity trusl¢es concerning ony such matters. My role is to state whelher any material matters have corne lo my attention 8ivin8 me cause to believe.. -1, Th81 accountin8 record5 were not kepl in A¢¢ordance with section 386 of the Companies Aci 2006 2. That the accounts do not accord with Ihose o¢¢ounting re¢ords 3. That the accounls do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with Ihc meihod5 and principles of the Charilies Statement of Rewmmcnded Pr8¢ti¢¢ applicable to charitie5 preparin8 Iheir accounts in accordance with the Financial Reporting Siandard applicable in the UK and Republic of Ireland 4. Thal Ihcre is further inforniAtion needed for a proper understanding of the accounts to bc reached. Page 5
Fuel Events Independent Examiner's Report to the trustees of Fuel Events ('the Company,) Independent examiner's statement I have completed my exarnination and have no concerns in respect of the matters { l) to (4) listed above and, in connection with following ihe Directions of the Charity Commission for North¢rn Ireland, I have found no matters that require drawing to your attention. Ryan McFaul D T Carson & Co Chartered AccounlAnts & Registered Auditors 51- 53 Thomas Street Ballymena Co. Antrim BT43 6AZ 9 January 2025 Page 6
Fuel Events Statement of Financial Activities for the Year Ended 31 January 2024 (IDcluding Income and Expenditure Account And Statement of Total Recognised Gains and Losse5) Unrcstrieled funds Restrict¢d funds Tot41 2024 Note Income and Endowment5 from: Expenditure on: Charitable activilies 1,017) (1.017 Total expenditur¢ 1.017 1.017 Nei expenditure Net movemeni in funds (1,017) (1.017 (1,017) (1,017) R¢concillAtlon of funds Total funds brou8ht forward 3.756 1,161 4.917 Tot&1 funds ¢&rried forward 12 3,900 TotAI 2023 Unrestrlcttd funds Restrlcted funds Noto Ilneom¢ and Endowm¢nt8 from: ChariLgble activities 3,500 3,500 i Tolal income 3,500 3,500 Expendilurc on: Charitable aclivilies 2,574) 2,574) Total expenditure 2,574 2,574) Net income 926 926 Nel movement in funds 926 926 Reconciliatlon of fund5 Total funds brought forward Toial funds Carried forward 2.831 1.161 3,992 12 3.757 1,161 4.918 All of the charity's activities derive from continuing operations during the above two periods. The notes on pages 9 to 16 forni an integral part of these financial statements. Page 7
Fuel Events (Registration number: N1071560) Balance Sheet as at 31 January 2024 2024 2023 Note Current assets Cash at bank and in hand 10 6,222 6,238 Creditors: Amounts f•lllng due wlthin on¢ year 2.322 1,320) Net asset$ 3,900 4,918 Funds of the eharlty: Res¢ricted ineome funds Restricted funds 1,161 Unre$tricled Income funds Unrestricted funds 2,739 3,900 Totgl funds 12 4,918 For the financial year ending 31 January 2024 the charity was entitled lo exemption from audit under section 477 of the Companies Act 2006 relating lo small companies. Directors, re5ponsibilitics'. The members have nol required the charity to obtain an audit of its accounts for the year in question in a¢¢ordanc¢ with section 476; and The directors acknowledge their responsibilities for complying wilh the requirements of the Act with respect ¢0 accounting records and the prcparotion of honts. These financial slatemcnts havc been prepired in Accordance with the spe¢ial provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. The financial statements on pages 7 to 16 were approved by the trustees, and authorised for issue on 9 Janu8ry 2025 and signed on their behalf by: Mr Paul McNeilly Trustee The notes on page5 9 to 16 forni an iniegral part of these financial statements. Page 8
Fuel Events Notes to the Finaneial Statements for the Year Ended 31 January 2024 I Charity $totu$ The charity is a private company limited by guarantee, incorporated in Northem Ireland, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the cvent of liquidalion. The address of ifs registered office is.. 91 Sliankbridge Road, Kells Ballymena. Co Antrim. BT42 3DL These finan¢ial statements were auihorised for issue by the trustees on 9 January 2025. 2 Ae¢ounting po15cles SummAry of slgnificAnt accountlng policies #nd key accounting utlmltes The principal a¢¢ountin8 policies applied in the preparation of these financial statements are set ou¢ below. These policies have been consistently applied to all Ihe years presertted, unless oiherwise stated, Statement of eompliAnce The financial statements have been prepared in accordance with Accountin8 and Reporting by Charities.. .Sfalement of Recommended Practice applicable to charities preparing their hccounts in accordance with the 'Financial Reporting Standard applicable in the UK and Republic of Ireland ffRS 102) (effective l January 2019) - (Charities SORP (FRS 102)), Ihe chill¢S Act (Northem Ir¢land) and the Companies Acl 2006. i The charity is a Public Benefit Entity as defined by FRS 102, B•sis of preptlration Assets and liabilities are initially recognised at historical c05t or Iransaction value unless otherwise slated in the relevant 8ccounling policy noies. The presentational ¢urr¢ncy of the finan¢ial statements t$ pounds sterling and amounts have been rounded to ihe nearest £1. Going concern The financial statements have been prepared on a going concern basis. The Trustees have assessed a period of 12 months from the date of approvin8 the financial statements with regard lo the appropriateness of the going ¢on¢ern assumption in preparin8 the financial stalemcnts. The Trustees believe that the company will continue as a going con¢ern and be able to realise ils assets and discharge lis liabilties in the nornial course of business. Page 9
Fuel Events Notes to the Financial Statements for the Year Ended 31 January 2024 Judgements The preparation of the financial statements requires the Tru51ees to make judgements, esrimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expenses. The estDmates and associated assumptions are based on historical experiencc and other fa¢tors Iha¢ a considered to be relevant. Aciual resulis may differ from these estimates. Income ind endowments All inwme is recogniscd once there is a legal or conslru¢tive obligation to that income after any perforniacc conditions have been met. the amount can be measured reliably and it is probable that income will be received. All income is allocated to the applicable income heading ih41 aggregate similar income lo that category. Donaliofts and legacies Donations are recognised when the charity has been notified in ¥Iling of both the amount and settlement dale. In Ihc ¢v¢nl that a donation is 5ubjecl to conditions that requir¢ a level of perfomiance by the charity before Ihe charity is entiiled lo the funds, the income is deferred and nol recognised until either those condition5 are fully met, or the fulfilmenl of those conditions is wholly within the control of the charity and it is probable that these conditions will bc fulfilled in the reporting period Expenditure All expenditure is recognised onc¢ there is h legal or constntctive obligation to that expenditure. it is probable settlement is rcquired and the amount can be measured reliably, All costs are &llorat¢d to the applicable expenditure heading thal a8gre8alc Similar c0315 to that category. Where costs cannot be directly attributed to particular heading5 they have been allocated on V4 basis con515tcnt with lh¢ use of re50urce5. with central staff costs &llo¢ated on the basis of time spent, and depreciation ¢harges allocated on the portion of the asset's use. Other support costs are allo¢ated based on the spread of stsff costs. Cliorliable aeiivilies Charitable expenditure comprises those cost5 incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly lo such &ctivities and those costs of an indireci nature necessary lo support tliem. Governance Costs These include the cosls anributoble lo the ¢hariry'S compliance with constitutional and statutory requirements. including audit, Slraicgic managemenl and trustees meetings and reimbursed expenses. TAxation The charity is considered to pass the tests sel out in Paragraph I Schedule 6 of the Finance A¢1 2010 ond therefore it meets the definition of a ¢haritable company for UK Corporation tax purposes. Accordingly. the ¢harily is potentiolly ¢xempi from taxation in respect of income or capital gains r¢¢eived within cate8orie5 overed by Chapter 3 Part I l of th¢ Corporation Tax Aci 2010 or Se¢tion 256 of the Taxation of Chargeable Gains Act 1992, to th¢ extent that Such income or gains are applied exclusively to charitable purposes. Tangible flxed A8$ets Tangible fixed assets (individually cosling £100 or more) are inilially recorded at cost and Subsequently measured at C051, less accumulated depreciation and impairnient losse5. Page 10
Fuel Events Notes to the Financial Statements for the Year Ended 31 January 2024 Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value. over their expected useful economic life as follows: Asset clAss Furniture & Equipment DepreciAtion method aDd rate 200/0 straight line basis Fund structure Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of Ihe objectives of the charity. Resiricted income funds are those donated for use in a particular area or for sp¢¢ific purposes, the use of which is rcstricled to that area or purpose. Flnanclfil Instruments Classificalion Financial assets and financial liabilities are recosnised when the ¢harity becomes a party to the conlra¢tual pi'ovisions of the instrument. 'rinancial li8bilities and equity instruments arc classified according to Ihc substance of the contractual aangeMentS entered into. An equity instrument is any conir8ct thai evidences a residual interest in the assets of the charity after d¢du¢tin8 all of its liabilities. Recognition ond measurement - Basic financial asset5 All basic financial assets and liabilities are initially measured at transACtion price (including trdnsaction costs) and subsequently carried at amortised costs using the effective interest method. Impairmenl For financial assets ¢arried at arnortised cost, the amount of impaiment is the differen¢e between th¢ asset's carrying amount and the present value of estimated future cashflows. discounted at the financial asset's original effective interest rate. For financial assets carried al cost less impairment, the imphimient loss is the difference between the asset's carying amount and the eslimatc of the amounl that would be received for the asset if il were to be sold at the reporting date. Where indicators exist for a decrease in impaimient loss, and the decrease can be related objectively to an event occuring after the impainnent was COgnIsed. the prior impaimient loss is t¢sled to d¢temiine reversal. An impairment1055 is reversed on an individual financial asset to the extent that the revised recoverable value does not Icad lo a revised caryin8 amount higher than the canying value had no impairnient been recognised. Pagell
Fuel Events Notes to the Financial Statements for the Year Ended 31 January 2024 3 Income from charit*ble activitieg Unrestricted funds Gener41 Total 2023 Donations and sponsorship 3.500 3,500 4 Expenditure on charitable a¢tivities Unrestrieted funds General Totnl 2024 Bank charges Governance costs 15 1.002 1,002 1,017 1,017 Unrestricted funds General Totfil 2023 Fund raising Costs Donations Bank charges Sundry expenses Governance cosls 121 1,500 65 168 720 1,500 65 168 720 2,574 2,574 £1,017 (2023 - £2,574) of the above expenditure was Attributablc to unrestricted funds and £Nil (2023 - £Nil) to resiricted funds. Page 12
Fuel Events otes to the Financial Statements for the Year Ended 31 January 2024 S Analysls of 8overn*nee And support eosts Governance costs Unrestricted funds General Total runds Independenl examiner fees Examination of the financial statements 1,002 1,002 Total for 2024 1,002 1,002 TotAI for 2023 720 720 6 Trustee5 remuneration ind expenses No truslces, nor any persons connected with them, have received any remuneration from ihe Charity during the year. 7 Independent exHmiDer'$ remuner4tion 2024 2023 Examination of the financial statements ,002 720 8 Taxation The charity is a registered charity and is therefore cxempi frorn taxation. Page 13
Fuel Events Notes to the Financial Statements for the Year Ended 31 January 2024 9 Tanglble fixed assets Furniture And equipment Total C05t At l February 2023 13,842 13,842 At 31 Janu4ry 2024 13,842 13,842 Depreciation At l February 2023 13.842 13,842 At 31 January 2024 13.842 13,842 Net book value Ai 31 January 2024 At 31 January 2023 10 Cash And cash equivllents 2024 2023 Cash at bank 6.222 6,238 I I CTedi¢ors: Amounts falling due within one year 2024 2023 Trusiee5 cuThent accounts Accruals 1.440 882 1,320 2.322 .320 Page 14
Fuel Events Not&s to the Financial Statements for the Year Ended 31 January 2024 12 Funds BalAnce at I February 2023 Resources expended BAlance at 31 Janu4ry 2024 Unrestricted funds General 3,756 (1,017) 2,739 Restricted funds 1.161 Total funds 1,017 3,900 Unrestricted funds B%lAnce at I February 2022 Incoming resources Resources expended neeai 31 January 2023 Unrestricted funds General 2,831 3,500 {2,574) 3,757 Restricted funds 1,161 Totil funds 4,918 Pa8e 15
Fuel Events Notes to the Financial Statements for the Year Ended 31 January 2024 l3 An*lysls of net assets between fund$ Unrestrieted funds GenerAI TotAI funds at 31 January 2024 Restricted (unds Current assets Current liabilities 5.061 2,322) 6.222 2.322 Total net assets 2,739 3,900 Unrestricted funds Ceneral TotAI funds at 31 JAnuAry 2023 Restri¢ted fund$ Current assets Current li&bililies 5,077 1,320 6,238 1.320 Total net a55ets 3,757 1,161 4,918 14 RelRted party transgctiofbs During the year the charity rnadc th¢ following related PATty transactions: Mr PAUI M¢Neilly (Trustee) Payments of expenditure on behalf of the Charity in the current year. At the balance sheet dale the amount due to Mr Paul McNeilly was £1,440 (2023 - £Nil). Yipp¢¢ Events Llmited (A company where P McNeilly, Trustee of Fuel Events, is a direcior and shareholder) Donation of £3,500 received in the prior year. Limited was £Nil (2023 - £Nil). | Ai ihe balance sheet dale the amount due to/from Yippee Events Page 16