Charity registratlon number NIC103341 (Northern Ireland) Company registration number N1026507 OPEN ARTS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
OPEN ARTS LEGAL AND ADMINISTRATIVE INFORMATION Trustee8 l H Lindsay S O'Donnell J Mcconville K Hughes A Hope S Finnegan Secretary S Flnnegan Charlty number (Northern Ireland) NIC103341 Company number N1026507 Reglstered office Crescent Arts Contre 24 Universlty Road Belfast Independent oxamlnor HM Chartered Accountants 6th Floor East Tower Lanyon Plaza 8 Lanyon Place Belfast County Antrim BT13LP
OPEN ARTS CONTENTS Page Trustees, report Independent examlnerfs report Statement of financial activities Statement of financlal posltion statement of cash flows Notas to the financial statements 10-18
OPEN ARTS TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The trustees, who are also the directors for Ihe purpose of company law, present their report and the unaudited financial statemenls of the charity for the year ended 31 March 2025. Structure, Governance and Management Governing document The organisation is a charitable company limited by guarantee. The company was established under a Memorandum of Association which 8Stablished the objects and powers of the company and is governed under its Articles ofAssociation. In the 8vent of the company being wound up members are required to contribute an amount not exceeding £1. Recruitment and Appointment of Dlrectors The trustees of the company are also charity trustees for the purposes of charity law. Und8r the requirements of the Memorandum and Artic18s of Association the directors are elected to serve for a p8riod of three years after which they must be re-elected at the next Annual General Meeting. 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 charity. New trustees are encouraged to attend suitable training courses to familiarise theTn5elves with both th8 work of the charity and their responsibilities as trustees. They are also made familiar with the Open Arts, Governance handbook. Risk management The trustees hava carri8d out a revi8w of the major risks to which the charity IS 8XPOS8d, and were appropriata have put in plac8 Systems and controls to mitigate the 8ffect of those rlsks. The financial statements have been ppared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the 's governing document, the Compani8s Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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).. Objectlves and activities The principal activity of the cornpany is lo promote and co-ordinate arts actlvSties of all kinds by and with disabled people in the ar8a of benefit, in accordance with the principles as laid down in th8 Memorandum and Articles of Association of Open Arts. En Is our core weekly programme (based on 3 lemis of workshops throughout the year). This programme engages neady 100 individuals and delivers 8 sessions every week. We deliver additional projects so that more disabled people. particularly children and young people, can explore the arts. We will support core participants to explore their individual development as artists. We also continuously explore the future of our organisation through research and development. En We produce events and perfomances so that disabled people can enjoy the achievement of performance and that audiences can enjoy thè creative and artistic tslents of disabled people. From April 2024 until March 2025, we delivered 435 creative workshop sessions that engaged 814 individuals. A total of 731 hours were delivered.
OPEN ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 From April 2024 until March 2025, we continued to deliver our core programme of activities for disabled adults: 3 x visual dass8s including one for blind and visually impaired Monday Players drama Open Arts Community Choir Gamelan group Creative writing Luminous Soul dance The core programme enhances participants artistic skills and is also a safe space where individuals have great connections with each other, which creates a true sense of belonging. The biggest highlight of the year in our core programme was our choir winning the Royal Philharmonic Society's Inspiration award, which was won by public vote from across the UK. Our Musical Director travelled lo the awards ceremony with othar choir members including Breege Corr, who has been in the choir since it was formed In 2000. The choir celebrated the win with a reception hosted by The Lord Mayor, Councillor Mickey Murray. Movement & Mentorlng In August 2024 we ran another of our Movament & Mentoring projects funded by ACNI Young People & Wellbeing Arts programme. 12 young people from Mae Murray Teen Hubs look part in a week-long dance summer scheme. Throughout the w88k they also had visits from members of Luminous Soul dance company. This week was followed up with more rehearsals to prepare for a performanc8 as part of Open Arts 8vent 'The Big Op8n Arts Takeover. at the Crescent Arts Centra. part of Bounc8 F8Stival. The young people also achieved Arts Awards, accredited by Trinity College London. UpBeat & InTune Through fundlng from ACNI'S Rural Arts Engagement programme, we delivered numerous workshops in Newcastle and surrounding areas for disabled children. To do thls. we worked with Autism Initiatives, Bolster Community and other local, rural groups. We also continued our InTune project for disabled childr8n with Angel Eyes Nl supported by Ulster Garden Villages. Outreach Projects Throughout the year, we also delivered creative activities, across all art forms. with numerou5 disability groups and SEND schools including.. Brain Injury Foundation Caring Breaks Orchardville TRC Mitchell House School Junction Club Autism Support Kilkeel Belfast MET Learning Support SOLAS Parkview Special School Edgecumbe Day Centre Woodlands Day Centre
OPEN ARTS TRUSTEES. REPORT {INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Identify. Identity, Impact Throughout the year we continued lo work on the Inclusive Tourism Project with Smith & Kent Consullants led by Belfast City Council with a working group made up of Visit Belfast, Tourism Nl and Titanic Belfast. As part of the project, we develop8d our Disability Equality Training contenl to include tasks while still interacting with our Lived Experience Team. We a150 created 2 more Inclusive Tourism Itinerary videos and worked in partnership to produce the Embrace the Indusive Spirit seminar. Our CEO also stsrted Arts & Business Blueprint programme, which will impact on our development of the next 2-3 years. Throughout the year, we created opportLJnities for our core participants lo perform and exhibit their work. which included a series of pop-up performancas in Connswater Shopping Centre in June 2024. In October 2024 all participant groups had a further opportunity to showcase their artistic skills over the Bounce Festival weekend. We launched a month-long exhibition in 2 Royal Avenue, 'Class Creations, and produced a full day of acts'vities in the Crescent Arts Centre called 'The Big Open Arts Takeover., F•stlvals Throughout the year, we particlpated In numerous festivals includlng The Lord Mayor's Day when we delivered Takeaway Theatre in Belfast City Hall, Nl Mental Health Arts FestlV81 and Eastside Arts Festlval when wa delivered open workshops in our gamelan unit in Connswater. Takeaway Theatre The perfomance Is alm8d at engaging and empowering tha recipient and their family to co-craate a drama based on a story of their making. The experience is about engagament, empowerment and fun for the individual but it also, importantly, enablès siblings, parents and famlly members to enjoy a shar8d experience. Throughout th8 y8ar we delivered visits across Other achlevements Over the course of the year mefnbers of our team wer8 invited to speak at several events including.. Musical Director - Derry International Choir Festival'5 Festival Forum, Singing is for everyone Chairperson - Arts & Business Nl, Cultural Governance Conference CEO - Equity Nl's Action on Access CEO - Titanic Staff Conference on access and inclusion Our team have continued to invest in their professional development. Our Finan and Programme Officer completed the Clore Leadership Inclusive Cultures programme and undertook training to become an Arts Awards Advisor up to Bronze Level. In March 2025 our CEO was shortlisted for Leader of a Small Organisation at the C03 Awards. Financial revlew The company is a non-profit making organisatlon. The results are set out in detail on page 8. The company had net expenditure for tho year of £4,465. The principal funding sources 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 rendered.
OPEN ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Resetves policy The trustees have examined the charity's requirements for reserves in light of the main risks to the funding of the organisation. Unrestricted free reserves are currently £93,101 as detailed in note 17, and this level of reserves 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 charity. Structure, governance and management The organi5ation is a charitable Gornpany Ilmited by guarantee. The company was established under a Memorandum of Association which established the objects and powers of the company and is governed under ils Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1. The Trustees, who are also the directors for the purpose of company18w, and who seNed during th8 year and up to the date of signature of the financial statemenls were: l H Lindsay S O'Donnell C Murtagh J Mcconville M Mann K Hughes A Hope S Finnegan (Resigned 30 November 20241 (Resigned 1 April 20251 Statsmènt of tnjstees. responslbllitios The Trust&es, who are also the directors of Op8n Arts for the purpose of company law. are responsible for preparing the Trustees, R8POrt and the financial statements In accordance with applicab18 law and Unitsd Kingdom Accounling Standards (United Kingdom GenerallyAccepted Accounting Practice). Company Law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of th8 and of the incoming resources and application of resources, including the income and expenditure, of the charitsble company for that year. In preparing these financial stat8m8nts, the Trustees are required to.. select suitable accounting policies and then apply th8m consistently., observe the methods and prlncSples in the Charities SORP: make judgements and estimates thal are reasonable and prudent. state whether applic8ble UK Accounting Standard5 have been followed, Subject to any material departures disclosed and explained in the financial statements; and prepare the financial statements on tha going concern basis unless it is inappropriate to presume that the will continuo in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time 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.
OPEN ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The trustees. report was approved by the Board of Truste8s. l H Lindsay Trustse egan Trustee Date: . 9.1.rL.I.V..QS.
OPEN ARTS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF OPEN ARTS I report on the financial statements of the for the year anded 31 March 2025, which are set out on pages 7 to 18. Respective responslbllities of charity Trustees and examiner As the charity Trustees (and also the directors of the company for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requiremenls of the Compani8S Act 2006. Having satisfied myself that the financial statements of Ihe are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, it is my responsibility to.. examine the financial statements under section 65 of the Charities Act (Northern Ireland) 2008: follow the procedures laid down in the general Directions given by the Commission under seclSon 65(9)(b) of the Charities Act (Northern Ireland) 2008., and state whether particular matters have come to my attention. Basls of independent examlnarfs report I have examined your charity financial statements as required under section 65 of the Charities Act (Northern Ireland) 2008 and my examination was Carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland un¢Jer section 65{9llb) of the Charities Act. The examination included a VIeW of the accounting records kept by the charity and a comparison of the financial statements presanted with those records. It a150 included consideration of any unusual items or disclosures in the financial stat8ments, and seeking explanations from you as charity trustees concerning any such matters. My role is to state whether any m8terial matters have come to my attention giving me cause to believe that.. 1. Accounting records were not kept in accordance with section 386 of the Companies Act 2006; or 2. The financial statements do not acGord wilh those accounting records., or 3. The financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021., or 4. Ther8 is further information ne8d8d for a proper understanding of the financlal statements to be raached. Independent examinerfs statement I have complet8d my examination and I hav8 no concems In respect of the matters (11 to (4) listed above and, In connection wlth following the Directions of the Charity Commission for Northern Ireland, I have found no matters that requlr8 drawing to your attention. HM Chartered Accountant8 6th Floor East Tower Lanyon Plaza 8 Lanyon Place Belfast County Antrim BT13LP Date:
OPEN ARTS STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Rèstricted funds funds 2025 2025 Total Unrestrlcted Restricted funds funds 2024 2024 Total 2025 2024 Notes Income from: Donations and legacies Charitable activities Investments 891 37,313 1,109 195,502 196,393 37,313 1,109 234 34,399 718 197.369 197,603 34,399 718 Totsl Income 39,313 195,502 234,815 35,351 197,369 232,720 Expendlture on: Charitable activlties 36.261 203,019 239,280 34,099 181,080 215,179 Total expandlture 36.261 203,019 239,280 34,099 181,080 215,179 Net Incomel(expendlture) and movement In funds 3,052 17,517) (4,465) 1,252 16,289 17,541 Reconciliatlon of funds: Fund balances at 1 April 2024 111,184 42,987 154,171 109,932 26,698 136,630 Fund balances at 31 March 2025 114,236 35,470 149,706 111,184 42,987 154,171 The stalement of financial activities includes all gains and losses recognlsed In the year. All income and expenditure derive from continuing activities.
OPEN ARTS STATEMENT OF FINANCIAL POSITION ASAT31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets 12 1,762 1,890 Current as8ets Debtors Cash at bank and in hand 13 7,180 145,211 16,256 140,066 152,391 156.322 Credltor8: amounts falling due wlthln one year 14 (4,447) (4.041) Net current assets 147,944 152,281 Total assets less current liabllltle• 149,706 154.171 Income funds Restricted funds Unrestricted funds 16 35,470 114,236 42,987 111,184 149,706 154,171 The company is entitled to the exemptlon from the audlt requirement cont8lned in section 477 of the Companies Act 2006, for the year ended 31 March 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2008 with respect to accounting records and the preparation of financial ststements. The members have not requId the company to obtaln an audit of its financial statements for the year In question in accordance with s8Ction 476. These financial statements have been prepared in accordance with the provisions applicable lo companies subject to the small companies regirne. The financial statement5 were approved by the Trustees on l H Lindsay Trustee SFin egan Trusts0 Company registratlon number N1026507
OPEN ARTS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flov from operating actlvilles Cash generated from operations 20 6,046 8,064 Investing activltles Purchase of tangible fixed assets Investment income received (2,0101 1,109 718 Net cash (usad In)Igenerated from Investlng actlvlties {901) 718 Net cash genarated from flnanclng actlvltles Net increase In cash and cash equlvalents 5,145 8,782 Cash and cash equivalents at beginning of year 140.066 131,284 Cash and cash equivalents at end of year 145,211 140,066
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policles Charity information Open Arts is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Crescent Arts Centre. 24 University Road, Belfast. 1.1 Accounting conventlon The financial statements have been prepared in accordance with the 's governing document, the Companies Act 2006, FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland. 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). The is a Public Benefit Entity as defined by FRS 102. The financial stat8m8nts are prepared in sterling, which is the functional currency of the . Monetary amounts in these financial statements are rounded to the nearest £. The financlal statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financlal instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concam basis of accounting in preparing the financial statements. 1.3 Charltable funds Unreslricted funds are available for use at the discretion of the Trustees in furtheranc8 of their charitable objectives. Restrlcted funds are subject to specific conditions by donors or grantors 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 unrestrict8d funds earmarked by the trust88s for particular future project or commilm8nl. 1.4 Income All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits assoclated wilh the transaction will flow to th8 charity and th8 amount can be reliably m8asured. The following specific policias are applied to particular categori88 of Incom8'. 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 frotn the cost lo the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for Ihe contribution of general volunteers. incom8 from contracts for the supply of servIS is r8cognised with- the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned rf unspent, in which cas8 It may be regarded as restricted. 10-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policles Icontinued) 1.5 Expendltur Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified und8r headings of the stat8ment of financial activities to which it r81ates.' 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 Ihose support costs and costs relating ta the governance of the charity apportioned to charitable activities. • Other expenditure includ8s all expenditure that is neither related to raising funds for the charity nor part of Its expendlture on charitab18 activities. All costs are allocated to expenditur8 categorles reflectlng the use of the resource. Direct costs attributable to 8 single activity ar8 allocated directly to Ihat activity. Shared costs are apportion8d be88n the activit18S they contribut8 to on a asOnable, Justifiable and consistent basls, 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to writ8 off the cost or valuation of assets less their rasidual values over their useful lives on the following bas8S'. Fixtures and fittings 25°A Straight Line The gain or loss arislng on the dlsposal of an asset is detemilned as the difference baeen the sale proceeds and the carrying value of the asset, and is recognised in the statement of financlal a¢tivit188. 1.7 Impairment of flxed assets At 8ach reporting end date, the reviews the carying amounts of its tangible assets to determine whether there is any indication that those assets hav8 suffered an impaimient loss. If any such indication exists. the recoverable amount of the asset is estimated in order to detemiine the extent of the impairment loss (if any). 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 maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instrument5. Financial 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 the net amounts presented in the financial statements. when there is a legally enforceable right to sel 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. 11
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies {Contlnued) Baslc flnanclal assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and ar8 subsequently carried at amortised cost using the effective interest method unless the arrangem8nt constitutes a financing transaction, where th8 transaction is measurad at the present valu8 of thè future receipts discounted at a mark8t rate of interast. Financial assets dassifiad as receivable within one year are not amortised. Basic financlal liabiliti•s Basic financial liabilities, includlng credStors end bank loans are initially recognlsed at transaction price unless the arrangement constitutes a flnancirbg transaction, where the debt instrument is measured al the present value of the future payrnents discounted at a market rate of interest. Flnancial liabilities classffied as payable within one year are not amortised. Debt instruments are subsequently carried at amort15ed cost, using th8 effective interest rate method. Trade creditors are obligations to pay for goods or s8Nices that have been acquired in the ordinary course of operation5 from suppliers. Amounls payable are classified as current liabilities if payment is due wilhin 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 interest method. Derecognition of financlal Ilabllities Financial liabilities are derecognised when the 's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits 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 termination benefits. 1.11 Retirement beneflts Payments to defined contribution retirement benefit schemes are charged as an expense as they fall du&. Critical accountlng estlmates and Judgements In the application of the 's accounting policies, the Trustees are required to make judgefflenls, estimates and assumptions about the carrying amount of assets and liabililies Ihat are not readily apparenl from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and undedying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate 15 revised wher8 the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. 12-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacles Unreslricted Restricted funds funds 2025 2025 Total Unrestrlcted Restricted funds funds 2024 2024 Total 2025 2024 Donations and gifts Grant Income 891 891 195,502 234 234 197,369 195,502 197,369 891 195,502 196,393 234 197,369 197,603 Grants rec8lvable for corg activltles ACNI ACNI Other Belfast City Councll Deans Chrlstmas Sit Out Bank of Ireland Garfield Weston Future Screens Ulster Garden Villages D'oyly Carte Halifax Foundation Dormant Accounts Communlty Foundation 97.140 7,163 18,681 1,000 97,140 7,163 18,661 1,000 95,140 17,362 18,661 1,500 8,373 15,000 21,273 95.140 17,362 18,661 1.500 8,373 15,000 21,273 15,000 21,038 10,000 6,000 5,000 12,500 15,000 21,038 10,000 6,000 5,000 12.500 6,250 6,250 2,000 2,000 Co-ownership Community Fund Kinder House 9,810 2,000 9,810 2,000 2,000 2,000 195,502 195,502 197,369 197,369 Income from charitable actlvltlgs Unrestrlcted funds 2025 Unrestricted funds 2024 Charltable activities Earned income 37,313 34,399 13-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from investments Unrestrlcted Unrestrlcted funds funds 2025 2024 Interest receivable 1.109 718 Expendlture on charitable activlties Charitable Support and actlvltles governance 2025 2025 Total Charltablo Support and activitlas governance 2024 2024 Total 2025 2024 Direct costs Staff costs Depreciation and Impairment Artist fees & travelling expenditure General expensas Legal & professional fees staff training Room hire, rent, h8at & light Insurance Travel expenses Telephone Printing & statlonery Materials Publicity & advert15ing 124,419 124,419 115,394 115,394 2,138 2,138 1,717 1,717 72,094 3,555 3,870 3,124 72,094 3,555 3,870 3,124 58,442 5,471 2,341 328 58,442 5,471 2,341 328 19.398 3,190 19,398 3,190 544 751 401 3,079 817 18,806 2,106 881 750 915 5,320 808 18,806 2.106 881 750 915 5,320 808 751 401 3.079 817 237.380 237,380 213,279 213,279 Share of support and governance costs (800 note 7) Governance 1,900 1,900 1.900 1,900 237,380 1.900 239,280 213,279 1,900 215,179 Analysls by fund Unrestricted funds Restricled funds 36,261 201.119 36,261 203,019 34,099 179,180 34,099 181,080 1.900 1,900 237.380 1.900 239,280 213,279 1,900 215,179 14-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to activitles 2025 2024 Governance costs 1,900 1.900 Net movement In funds 2025 2024 The net movement in funds 15 Stated after chargingl(creditingl: Depreciation of owned tangible fixed assets 2,138 1,718 Trusteas None of the Trustees (or any persons connected with them) received any remuneration or benefits from the during the year. 10 Employee8 The average monthly number of employees durlng the year was: 2025 Number 2024 Number Employment cogts 2025 2024 Wages and salaries Social security cost5 Other pension costs 110,842 5,345 8,232 102.g82 4.180 8,232 124,419 115.394 Key Management Personnel Key management personnel include all persons that have authority and SponsIbl11ty for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for seNices provided to the charity was £46.368 (2024: £43,688) There were no employees whose annual remuneration was more than £60,000. 11 Taxation The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. 15-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Tanglble fixed a888ts Fixturns and flttlngs C08t At 1 April 2024 Additions 26,643 2,010 At 31 March 2025 28,653 Depr8clatlon and Impalrment At 1 April 2024 Depreciation charged In the year 24,753 2,138 At 31 March 2025 26,891 Carrylng amount At 31 March 2025 1.762 At 31 March 2024 1.890 13 Debtors 2025 2024 Amounts falllng duo wlthln one year: Other debtors 7.180 16,256 14 Creditors: amounts falling due wlthln one year 2025 2024 other taxation and social security Trade creditors Accruals and deferred inGome 2,242 305 1.900 2,094 47 1.900 4,447 4,041 15 Retirement beneflt schemes 2025 2024 Deflned conlrlbutlon schemes Charge to profit or loss in respect of defined contribution schemes 8,232 8,232 The operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the in an independently administered fund. 16-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Restricted funds The restricted funds of the charity comprise the un8xpended balances of donations and grants held on trust subject to Specific conditions by donors as to how th8y may be used. Movement In funds Incomlng Resources Balance at rèsouK•8 expended 31 March 2025 Balanc• at 1 Aprll 2024 ACNI AFP ACNI Equipment ACNI Rural Engagement Arts Programme ACNI Articulate Belfast City Council D'olyly Carte Halifax Foundation Choir Touring Fund C(FOwnership Community Fund Deans Christmas Fund Dormant Accounts Futur8 Screens Garfield Weston Kinder Hous& Ulster Garden Vilages 97,140 1,888 998 4,277 18,661 6,000 5,000 (97,140) {1,679) (7,544) (8,555) 118,661) 1,204 6,546 4,278 1,413 6,000 {5,000) (1,110) 16,331) (1,500) (150) 128,431) (15,000) 11,852) 110,066) 7,567 6,331 1,500 6,250 7,393 6,457 1,000 12,500 21,038 15,000 2,000 10,000 1,000 18,600 1,852 66 2,000 42,987 195,502 (203,019) 35.470 17 Daslgnatod funds Unreslrlcted funds Movement In funds Incoming Resour¢es Balance at ourc•s •XPgnded 31 March 2025 Balance at 1 April 2D24 General Funds Development Funds Access Support 83,592 15,000 12.592 39.313 (36,261) 86,644 15,000 12,592 111,184 39.313 (36,261) 114,236 18 Relatsd party transactions There were no disdosable related party transactions during the year (2024 - none). 19 Analysls of changos In net funds The had no material debt during the year. 17-
OPEN ARTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Cash generated from operations 2025 2024 (Deficitllsurpus for the year (4,465) 17,541 Adjustments for.. Investment income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets (1,109) 2,138 (718) 1,717 Movements in working capital: Decreasellincrease) in debtors InGreaselldeGreasel In Greditors 9,077 406 (10,277) (198) Cash generated from operatlons 6,047 8,065 18-