Charity reglstratlon number NIC103341 Company ragistratlon number N1026507 {North8rn Ireland) OPEN ARTS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023
OPEN ARTS LEGAL AND ADMINISTRATIVE INFORMATION Thist88S l H Lindsay S O'Donnell C Murtagh J Mcconville M Mann K Hughes A Hope S Finnegan Sècretary S Flnnegan Charfty number NIC103341 Company number N1026507 Reglstered office Crescent Arts Centre 2-4 University Road Belfast Independent examinar Harbinson Mulholland Centrepoint 24 Ormeau Avenue Belfast Co. Anlrim Northern Ireland BT2 8HS
OPEN ARTS CONTENTS Page Trustees, report Independent examinerfs report Statement of financial activitie8 Balance sheet statement of cash flows Notes to the financial ststements 8-18
OPEN ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The trustees, who are also the directors for the purpose of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2023. Structure, Governance and Management Governlng document The organisation is a charitable company limited by guarantee. The company was established under Memorandum of Association which established the objects and powers of the company and is governed under its Articles ofAssociation. In the event of the company being wound up members are required to contribute an amount not exceeding £1 Recrultment and Appolntment ot Dlrectors The trustees of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the directors are elected to serve for a period of three years after which they must be re-elected at the nextAnnual General Meetlng. The trustees of the company have a mix of business and artistic skills. In the event of particular skills being lost due to retirement or resignation, suitable individuals are approached to offer themselves for appointment as trustees. Trustee Inductlon and training Most new trustees are familiar with the work of the charty. New trustees are encouraged to attend suitable training courses to familiarise themselves with both the work of the charity and their responsibilities as trustees. They are also made familiar wilh the Open Arts, Governance handbook. Rlsk management The trustees have carried out a review of the major risks to which the charity is exposed, and were appropriate have put in place systems and controls to mitigate the effect of those risks. Objectlves and actlvltles The principal activity of the company is to promote and co-ordinate arts activities of all kinds by and with disabled people in the area of benefit, in accordance with the principles as laid down in the Memorandum and Articles of Association of Open Arts. Achlevements and performance From April 2022 untll March 2023, we delivared 413 creative workshop sessions that engaged 554 indivlduals. In April 2022, we re-inststed our core programme to pre-pandemie levels. This included increased In person capacity by removing social distancing and allowing more movement around rooms e.g., for drama where participants had mainly remained seated. Where classes were kept shorter beeen September 2021 and April 2022, we increased the length of time back to the pre-covid times. On a weekly basis, throughout the year we delivered.. 3 x visual classes including one for blind and visually impaired Monday Players drama Open Arts Community Choir Creative writing Gamelan Group Luminous Soul dance On Thursday 16th June we launched Words Out, a new anthology of poetrylcr8ative writing, which featured work from participants across our core programme. The event was part of the Belfast Book Festival and featured readings, music, and dance from Luminous Soul. The Open Arts Community Choir have been perfomiing again. In April 2022 they competed in Bangor International Choral Festival where they won 2 awards. On 25th August they performed at the Belfast Mix Tape event in the Vwdterfront Hall with Ferna. They perfomied the song 'At Home, that was written during sessions with our participants and Ferna in early 2022.
OPEN ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Achlevements and performance (continued) On 29th September they also performed with local band Blackjack at the Arts & Business Awards. . Throughout April to June, we delivered workshops in partnership with Belfast Abbeyfield Society, funded by ACNI Arts & Older People. DanrS and musicians worked with residents of 5 residential homes in mindful nK*vement and dance. The project culminated with outdoor perfomiances at each of the houses, the creation of lyric books and movement prop packs that were left with residents. Over July and August 2022, delivered nearly 20 sessions as part of the Solas Summer Schemes for children with autism and additional complex needs. We conts'nued to deliver our In Tune project (funded by Children in Need). There were regular sessions for both partner organlsations.. Angel Eyes- Tiny Tots, Primary age group, Teen Hub and 1..1 sessions for children with additional complex needs. Autism Initiatives - group and 1..1 sessions. 'Thls programme has b88n invaluable for K's mental well-b8ing and personal growth. It has provlded him with an opportunity to socialise and learn important skills, h8lping to build his confidence in a s8f8 8nd understanding setting. K always leaves the music programme chatting and happy (this is usually a very raTr occurrence when he has been in a social setting). Take Away Theatre, funded by Bank of Ireland Begin Together, is our interactive, fun performance that happens at home for disabled people and their families. We delivered mults'ple visits throughout the year from Belfast to Bessbrook, Ballynahinch to Bangor. .1 cannot thank you, and your team, enough for the amazing time we had today,. Jessic8 8nd St8phen 8r& wonderful and brt)ught so much joy into our home. I must say I was 8 little concemed as A had been in a bit of a 'twist' all moming and it was hard to know how engaging he would be. Howevar, Ihe p8ir were 8ble to tum him around and their palience and cr88tive Imaginations weTr amazing. We 811 h8d a really great time. Thank you all so much 8g8in, best wish8S.' In October 2022, we produced Weaving Threads, a performance as part of Bounce Festival. We facilitated 3 of our participants, who had developed their own work with funding from IDA, to collaborate and perform. The feedback from the emerging artists involved in this process demonstrates how Open Arts nurtures and supports artistic talent.. "I never thought my disability could be something Ihal made me unique and enabled me to create art in a new and IntestIng way. This new confidence and accgptance of myself empowered me to think about myself as a performer." °Open Arts is my creative and social lifeline and being part of the organisation has helped me 8nom70usly over the past couple of years, the Open Arts team has also helped me to access my own funding. I now have mentors who are helping me to create my own woth that explores my feelings about my diagnosis of autism later in life.. As part of the opening of Bounce Festival 2022, we performed a flashmob in Castle Court with Open Arts Community Choir and Luminous Soul dancers. This was written in The Neurodiverse Review, a UK wide, thdicated review site for neurodiverse, autlstic, and disabled-led work. .1 dont know if flashmobs afp usually reviewed, but I feel in this c8.Sè, it .%hniJld be. It was gr8at to see disabled danrS taking up space unapologetically, perfomiing without permission, not caring if anyone was watching or not. It was empowering and beautifully done."
OPEN ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Flnancial revlew The company is a noTrprofit making organisation. The results are set OLrt in detail on page 5. The company had net expenditure for the year of £26,539. The principal funding SoUrS of the charity are by way of grant, principally from the Arts Council of Northern Ireland, and by way of charging fees to various groups for services render8d. Reserves pollcy The trustees have axamined the charty's requirements for reserves in light of the. main risks to the funding of the organisation. Unrestricted free reserves are currently £82,340, as detailed in note 14, and this level of resetves would be sufficient to fund the organisation's running costs for a period of six months at current levels of spending and cover redundancy payments for the current staff. The trustees consider this level of reserves to be adequate to meet the needs of the charlty. Statement of trustees, responslbllltles The Trustees, who are also the directors of Open Arts for the purpose of company law, are responsl ble for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdjm Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the Trustees to prepare financial statements for each financial year which gwe a true and fair view of the state of affairs of the and of the incoming resourc88 and application of resources. including the income and expenditure, of the charitable company for that year, In preparing these finanaal statements, the Trustees are required to: select suitable accounting policies and then apply them consistently; obs@e the methods and principles in the Charities SORP; make judgements and estimates that are reasonable and prudent., state whether applicable UK Accountlng Stsndards have been followed, subject to any material departures dlsclosed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the will Continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any lime the financial position of the and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees, report was approved by the Board of Trustees. l H Lindsay Trustee S Finnegan Trustee Date..
OPEN ARTS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OPEN ARTS We report to the Trustees on our examlnatlon of the finanryal statements of Open Arts {th8) for the year ended 31 Marth 2023. Responsibilities and basls of report As the Trustees of the land also its diractors for the purposes of company lawl you aro responsible for the preparation of the financial statements and you have considered the audit requlrement of Section 65(3) of th8 Charities Act (NII 2008 (the Act). Having s81isfied ourselves that th8 charity is not subject lo audit under ¢ompany law, and 15 eligible for Independent examination. it is our respon51blllty to.. examine the accounts under sectlon 65 of the Charilles Act (Northem ITelandl 2008,. follow the procedures laid down In th8 general Directions given by IhB Charity Commlsslon for Northem Ireland under Becdon 65{9llbl of the Charitles Act.. state whether partlcular matters have come to our attention. Ind•p•ndent axamIn•$ Statomont We have examined your charfty accounts as required under Section 65 of the Charities Act and our examSnation was carrled out in accordance with the general Dlrecb'ons glven by the Charity Commlsslon for Northem Ireland under sedlon 65{9llbl of the Charities Act. The examination induded a review of the accounting records k8Pt by the tharlty and a comparison of ttte accounts presented with th058 records. It a180 included consideration of any unu8U81 Items or disdosures in Ihe aGcounts, and seeking explanatlons from you as charlty truslees concemSng any such matters. Our role is to state whether any material matters have come to our attentlon giving us cau9e to believe: That accounting records were not kept In respect of the as raqulred by section 386 of the 2006 Act. or the flnanclal statements do not arxord wlth thosg records,. or That the flnancial statements do not comply with the accounting requirements of Section 396 of the Companle8 Act 2006 and with the rnethcds and princlples of the Charitses Statement of Recommended Practice applicable to charities prepadng their accounts in arxwdance with the Flnancial Reporting Stsndard applicable In the UK 8nd Republic of Ireland. That there is further infonnadon needed for a proper understsndlng of the accounts to be reached. Wa have complotsd our examlnatlon and have no conGems In r88pect of the mattars111 to {4) Istsd above and, In connection wlth followlng the Directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. Harblnson Mulholland Centrepoint 24 Ornieau Avenue Belfast Co. Antrlm BT2 8HS Northern Iland 1211212023
OPEN ARTS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted Restricted funds funds 2023 2023 Totsl Unre8tricted Restrlcted funds funds 2022 2022 Total 2023 2022 Notss Donations and legacies Investrnents 15,171 62 189,372 204,543 62 6,725 214 178,569 185,294 214 Total Income 15,233 189,372 204,605 6,939 178,569 185,508 Charitable actlvities 20,838 210,306 231,144 4,986 157,749 162,735 Net lexpendlturellincome for the yearl Net movement In fund5 (5,605) (20,934) (26,5391 1,953 20,820 22,773 Fund balances at 1 April 2022 115,537 47,832 163,169 113,584 26,812 140,396 Fund balances at 31 March 2023 109,932 26,898 136,630 115,537 47,632 163,169 The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activitles. The statement of financial activities also complles wlth the requirements ft)r an income and expenditure account under the Companies Act 2008.
OPEN ARTS BALANCE SHEET ASAT 31 MARCH 2023 2023 2022 Flxed assets Tangible assets 10 3,607 5,999 Current assets Debtors Cash at bank and in hand 11 5,978 131,284 8,522 151,878 137,262 160,400 Crodltors: amounts falling due wlthln one year 12 (4,239) (3,230) Net current assets 133,023 157,170 Totsl assets less current Ilabllltlas 136,630 163,169 Income funds Restricted funds Unrestricted fijnds 13 26,698 109,932 47,632 115,537 138,630 163,169 The company is entitled to the exemption from the audit requirement contained in section 477 of the CompaniesAct 2006, for the year ended 31 March 2023. The directors acknowledge their responsibilities for complying wlth the requirements of the Compani8s Act 2006 with respect to accounting records and the preparation of financial ststements. The members have not required the company to obtaln an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustees on ... .... l H Lindsay Trustee S Finnegan Trustee Company registration number 1026507
OPEN ARTS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Cash flows from operatlng activities Cash (absorbed by)Igenerated from operations 17 <19,6221 25,938 Investlng actlvltles Purchase of tangible fixed assets Investment income received (1,034) 62 (5,506) 214 Net cash u8•d In Invastlng actlvltles {9721 (5,292) Net cash used In flnanclng actlvltleg Net (decreaselllncrease In cash and cash oqulvalent8 (20,594) 20,646 Cash and cash equivalents at beginning of year 151,878 131,232 Cash and cash equlvalents at end of y8ar 131,284 151,878
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accountlng pollcles Charlty Infomiation Open Arts is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Crescent Arts Centre, 2-4 University Road, Belfast. 1.1 Accounting conventlon The financial Statements have been prepared in accordance with the's [governing documentl, the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. ("FRS 102") and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The is a Public Benefit Entity as defined by FRS 102. The financlal statements are prepared in sterllng, which is the funciional currency of the . Monetary amounts in these financial statements are rounded to the nearest £. The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Golng concern At the time of approving the financial statements, the Trustees have a reasonable expectation that th8 has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltsble funds Unrestricted funds are avallable for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment. 1.4 Incomo All incomlng resources are included in the statement of financial actlvities when entitlern8nt has passed to the charity,. it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income..
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policles (Continued income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be r81iably measured. No amounts are included for Ihe contribution of general volunteers. income from contracts for the supply of services is recognised with- the delivery of the contracted service. Thls is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unsp8nt, In whlch case it may be regarded as restricted. 1.5 Expendlture Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial aclivities to which it relates.. expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities. other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned beeen the activities they contribute to on a reasonable, justifiable and consistent basis. 1.6 Tanglble flxed asset8 Tangible fixed assets are initially measured at cost and subsequently measuréd at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their resldual values over their useful lives on the following bases.. Fixtures and fittings 25Q/o Straight Line The gain or Ios5 arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 1.7 Impairment of fixed assets At each reporting end date, the reviews the carying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the assel is estimated in order to determine the extent of the impairment loss (if any).
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting pollcles {Contlnued) 1.8 Cash and cash equlvalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financlal Instruments The has elected to apply the provisions of Section 11 'B8sic Financial Instruments, and Section 12 '0ther Financial Instrumentslssues, of FRS 102 to all of its financial instruments. Finanaal instruments are recognised in the 's balance sheet when the becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with th8 net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Ba$1¢ flnanclal assets Basic financial assets, which Include debtors and cash and bank balances, are Initlally measured at transaction price including transaction costs and are subsequently carried at amortlsed cost using the effective interest m8thod unless the arrangement constitutes a fi'nancing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carrled at amortised cost, using the effective inlerest rate method. Trade creditors are obligations to pay for goods or services that have b8en acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interesl method. Derecognition of financial Ilabllities Financial liabilities are derecognised when the 's contractual obligations expire or are discharged or cancelled. 1.10 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the is demonstrably committed to terminate the employment of an employee or to provide temiination benefits. 1.11 Retlrement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 10-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Critical accountlng estimates and judgements In the application of the 's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experien and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects mly that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donatlons and legaclos Unrestrlcted Restrfcted funds funds Total Unrestrlcted Restrlcted funds funds Total 2023 2023 2023 2022 2022 2022 Donations and gifts Government Grant Income 15,171 741 15,912 6,725 18,277 25,002 188,631 188,631 160,292 160,292 15,171 189,372 204,543 6,725 178,569 185,294 Grants recelvable for core actlvitles ACNI ACNI Other Belfast City Council Deans Christmas Sit Out Bank of Ireland Art Fund Ulster Garden Vlllages Halifax Associatlon for the Blind Enkalon Garfield Weston BBC Children in Need Future Screens 98,140 8,598 18,661 98,140 8,598 18,661 93,140 10,327 16,965 93,140 10,327 16,965 1,639 1,639 7,877 7,877 2,141 5,000 5.000 2,141 5,000 5,000 1,000 1,000 1,000 1,000 10,000 15,080 10,000 15,080 32,437 21,918 32,437 21,918 188,631 188,631 160,292 160,292 11
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Investments Unrestricted Unrestrlctsd funds funds 2023 2022 Interest receivable 62 214 Charltable actlvltle8 Total 2023 Total 2022 Staff Costs Depreciation and Impairment Artist Fees & Traveling Expenditure General Expenses Legal & Professional Fees staff Training Room Hire, Heat & Light Insurance Travel Expenses Telephone Printing & Stationary Materials Publicity and Advertising 107,430 3,425 79,308 2,294 3,398 720 19,897 1,719 574 788 2,695 2,070 4,926 74,000 3,167 56,511 1,412 919 503 13,658 1,700 159 701 859 2,882 229,244 160,835 Share of governance costs (see note 6) 1,900 1,900 231,144 162,735 Analysis by fund Unrestricted funds Restricted funds 20,838 210,306 4,986 157,749 231,144 162,735 12-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Governance costs costs 2023 2022 Accountancy 1,900 1,900 1,900 1,900 1,900 1,900 Analysed beeen Charitable activities 1,900 1,900 1,900 Trust908 None of the Trustees (or any persons connected with them) received any remuneration or banefits from the during th8 year. Employees The average monthly number of employees during the year was.. 2023 Nurnber 2022 Number Employment CO8ts 2023 2022 Wages and salaries Social security costs Other pension costs 95,725 3,995 7,710 65,902 1,428 6,670 107,430 74,000 Key Managomont Personnel Key management personnel include all persons that have authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £43.461.76 (2022.. £36,601) There were no employees whose annual remuneration was more than £60,000. Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to ils charitable objects. 13-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 10 Tangible flxed assets Flxtures and flttings Cost At 1 April 2022 Additions 25,609 1,034 At 31 March 2023 26,643 Depreclatlon and Impalrment At 1 April 2022 Depreciation charged In the year 19,610 3,426 At 31 March 2023 23,036 Carrylng amount At 31 March 2023 3,607 At 31 March 2022 5,999 11 Debtors 2023 2022 Amounts falling due wlthln one year: Other debtors 5,978 8,522 12 Credltors: amounts falllng due wlthln one year 2023 2022 other taxation and social security Trade creditors Accrua15 and deferred income 2,198 72 1,969 1,330 1,900 4,239 3,230 14-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 13 Restrlcted funds The income funds of the charity include restricted funds comprising the following unexpended balanS of donats'ons and grants held on trust for specific purposes.. Movement In funds Incoming Resources Balance at rnsourGe$ expended 31 Plarch 2023 Balance at 1 April 2022 ACNI ACNI Equipment ACNI Arts & Older Peop18 ACNI Young People & Wellbeing Belfast City Council BBC Children in Need Halifax Foundation Ulster Garden Villages Deans Chstimas Fund Bank of Ireland- Arts Fund Garfield Weston Choir Touring Fund Belfast Associats'on for the Blind Enkalon Future Screens 98,140 198,140) (2,998) (8,000) {8) {18,661) 132,817) (5,000) (2,880) (2,055) (8,570) {10,000) (5,489) (2,000) (1,000) {12,688) 5,491 3,500 2.493 4,500 4,098 18,861 32,437 4,090 380 5,000 5,000 2,055 1,081 10,000 13,125 2,000 2,120 7,877 388 741 8,377 1,000 21,918 9,230 47,632 189,372 {210,306) 26,698 14 Deslgnated fund3 Unrestricted funds Mov•mont In funds Incomlng Resources our¢o8 expended 8olanc• at 1 Aprll 2022 Tran¥l•rs B418nc• at 31 March 2023 General Funds Development Funds Access Support 55,537 45,000 15,000 15,233 (20,838) 32,408 (30,000) (2,408) 82,340 15,000 12,592 115,537 15,233 {20,838) 109.932 15-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 15 Analysls of net assets between funds Unrestrlcted Rastrlcted funds funds 2023 2023 Totsl Unrestrlcted Restrlcted funds funds 2022 2022 Totsl 2023 2022 Fund balances at 31 March 2023 are represented by- Tangible assets Current assetsl(liabilities) 1,113 106,105 2,494 26,918 3,607 133,023 508 115,029 5,491 42,141 5,999 157,170 107,218 29,412 136,630 115,537 47,632 163,169 16 Related party transactions There were no dlsclosable related paty transactions during the year (2022 - none). 17 Cash generated from operatlons 2023 2022 (Deficit)Isurpus for the year (26,539) 22,773 Adjustments for.. Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed ass8ts (62) 3,425 1214> 3,167 Movements In working capltal.. Decreasel(Increasel in debtors Increase in creditors 2,545 1,009 (265) 477 Cash labsorbed by)Igeneratsd from operatlon8 (19,622) 25,938 18 Analy818 of changes In net funds The had no debt during the year.