Fpm •nwJ bT55•X Td..th6MYAII T•k074•7150W T•kQll W28 TQIIW243tIi AN AAB GROUP COMPANY FPMAA8.COM I IIFO@FPMAAB.COM Charity Registration No. XR82700/NIC103347 Company Re9lstratlon No. N1027789 (Northem Ireland) BEAT CARNIVAL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 AWARD WINNING ADVICL.. CPIARTEAED IKLAYD IMM¢ WIMIIE
BEAT CARNIVAL LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr F Galbraith Mr J W Hodge Dr W G McFarlane Mr O Paulin Mrs S Campbell Mrs O. McKenna (Appointed 12 April 20221 (Appointed 24 October 20221 (Appointed 14 August 2023) Mrs L Dougan Charity number XR827001NIC103347 Company number N1027789 R•g1St•r offlce 11-47 Boyd Street Belfast Co. Antrim Northern Ireland BT13 2GU Auditor FPM Accountsnts Limited 1 3 Arthur Street Belfast Co. Antrim Northern Ireland 8T1 4GA Bankers Ulster Bank Arches Retail Bank Belfast Antrim BT5 4AF Key Management Personnel David Boyd (Chief Executive Officer) Jean Boyd (Operations Manager)
BEAT CARNIVAL CONTENTS Page Trustees, report Statement of trustees, responsibilities 16 Independent auditor's report 17-22 Statement of financial activities 23-24 Balance sheet 25 Statement of cash flows 26 Notes to the financial ststements 27-41
BEAT CARNIVAL TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2023 The trustees present their report and financial statements for the year ended 31 March 2023. The Report and financial 5taternents have been prepared in accordance with the accounting policies set out in note I to the accounts and comply with the charity's governing document, the Companies Act 2006,. the Charities Act {Northern Ireland) 2008 and the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 & Charities Statement of Recommended Practice 'Accounting and Reporting by Charities, IFRS 1021 for charities preparing accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland. Objectives and activltles WHAT THE ORGANISATION DOES Beat Carnival is Northern Ireland's foremost and long-standing Carnival Arts company. We create carnival parades and outdoor art5 performance5. We encourage our city of Belfast and communitie5 acr05S the country to think big about celebrating our creative, community life in ways that are ambitious and welcoming to all. Beat's specialisms include performance art5 such a5 drumming, music, singing, street dance and puppetry. We provide training and free-of-charge participation programmes and we have extensive experience of work with community organisations. Beat's first camival parades were in 1995. There is no other carnival arts organisation of the scale, activity, history or influence in Northern Ireland, where Beat Carnival has introduced many of the artform techniques and trained many of the artist5 now working across the country. Participants gain new skills, connections and sUPPOrt at weekly activity programmes that take Pla in the Carnival Centre plus extensive local outreach in Belfast postcode and across Northern Ireland. Carnwal art5, outdoors in public spaces with people from diverse background5, are experierTrced in way5 that are cuurallY inclusive. Carnival arts bring new sources of creativity to Northern Ireland's traditional experience of cultural parades and street music. The organisation's involvement in a wide range of neOrkS, locally and internationally, increases diversity of relationships and shared benefits. New and unique opportunities enable people and communities to increase skills,. meet people from other areas, backgrounds and traditions,. and gain positive experiences. Beat Carnival's activity is provided free of charge to participants and audience so that barriers to access and engagement are as low as possible. Ease of access is one of the ways that the activity increases equality of opportunity. The organisation operates Beat Carnival Centre. The Centre with its programme of arts creation, education, training, community outreach and events production, provides a focal point for anyone interested in the development of carnival arts. Artists design, create, rehearse, teach and train at the Centre. The Carnival Centre's work makes a special contribution to festivals, community celebrations and civic events. Importantly, the premises and its activity provide an accessible, supportive and 'safe space,, particularfy for young people. Participants at Beat's weekly programme of open-acce55 workshops range in age from 4 to over 60 years. Workshops 5pecialise in teaching carnival arts of drumming, dance, making (float5, puppets, props, costume), musiG street theatre performance, children's arts and crafts. Six or seven sessions operate over three to four nights a week at the Centre. Public audience at Beat's free events gain enjoyment and an increased sense of community pride and connection. In 2022-2023 Beat Carnival provided 1.995 benefit activities (workshops, art15t se55ions, events) for 139,500 beneficiaries.
BEAT CARNIVAL TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Vision for the Future. Mission Statement and Value Base Vision The vision for Beat Carnival's work with artists, their audiences. the community, individual participants and young people is of -vibran¢ colourfu/ creative and welcoming society.. Beat Carnival will aim to achieve this through their organi5ational vision of being: the leaders in excellence of Camival artlonns-. Mlsslon The Beat Carnival's mission statement IS to.. °Make acce55ible and spectacular Carnival leaving a legacy of creative skills collaboration, participation ana elebration". Values Beat Carnival operates to a set of core values. Inclusive.. Carnival is for everyone. Carnival activities celebrate diverse cultures and a common humanity with as few barriers to participation as possible. Quality.. There is an aim for excellence in everything Beat Carnival does. Innovative.. Beat Carnival will strive to take forward the carnival artform, creating new ideas and approaches. The skills and knowledge of local artists and carnival participants progressively increase through training and experience. Legacy.. Carnival will be devised, developed and delivered in ways that leave a legacy of skills, ambition and achievement within comrnunities. Civic pride.. Carnival makes visible the organi5ation'5 great pride in being created in Belfast. Fun.. Enjoyment and entertainment are key aspects of every Carnival. PROVIDING PUBUC BENEFIT PUBLIC BENEFIT PURPOSES Beat Carnival's charitable purpose a5 Set out in the Articles is, in summary, to: advance public education, appreciation of and participation in carnival promote arts and culture by managing an Arts Resource Centre as a cultural and social amenity organising and delivering camival events, arts workshops and other activities, events, performanos and initiatives throughout the year providing tuition in creative design, constructional, textile and performance skills promoting cultural tOUri5m and cultural exchange and opportunities for vocational and recatIonal purposes for all groups and abilities advance community development by engaging with and assisting voluntary and community groups and organisation5 to organ15e and participate in cultural, arts, leisure and heritage projects and initiatives to promote other charitable purposes so long as these purposes would be considered to be charitab under the law of Northern Ireland.
BEAT CARNIVAL TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 WHAT HAPPENED IN 2022-2023 Direct benefits provided by Beat Carnival's activities in 22-23 included new awareness of, and participation in, creative activities for individuals, for groups and communities and for the general public. Fretraccess, collaborative, carnival arts activities fostered good relations and, when possible, animation of putrAic and neighbourhood spaces. including space5 that have been or are contested or controlled by factions. The public spaces where arts activity took place were made rrnore welcoming for all. Beat Carnival's actimty increased interest in arts in young people and under-engaged group5. The activity improved acce55 to information and expertise about arts for excluded people and communities. In area5 that are deemed 'disadvantaged' it inspired ambition and enabled personal achievement and pride. Beat created developmental partnerships with community groups and other arts companies, to increase representation, knowledge sharing, skills sharing, specialist 5UPPOrt, capacity building and the promotion of shared values. Beat's safe, imaginative and attractive art5 and cultural activity resulted in people, many of them being children and young people, engaging with others. Pleasure and fun were gained through the programmes. Children and young people benefited from emotional growth, personal development and increased social skills. Participants, both individuals and groups, were better equipped to make positive chan9es in their lives. Social connections were enabled in a year of damaging isolation and more people took positive action on issues. An important benefit of Beat Carnival's activity was increased support of young people, whose mental health issues were rnagnified by the Covid impacts in recent years. The irnpact of Covid curtailed activity in schools because of their internal Covid restrictions. Activity development and performance highlights over the year.. This was the final year of the SPOTing programme (Spaces Of Transformation), a three year art5 education methodology project with eight cultural centre partners in Europe. Learning from this project is feeding into Beat's Youth Programme development. Youth Development. Beat Carnival worked with over 60 young people per week (term times) across four projects in our core programming. The young people range in age from 5 years to 18 years old. The programmes focus on creative skills development., encouraging self-expre5sion,' and experiencing joy & less stress. The youth programrne facilitators identified areas for future development and are working on funding plan to support and ensure the youth development in coming year5. Associated with the core youth programme, the Take A Beat summer week, Future Leaders and What's The Story? initiatives proved successful. 'What's the Story?, is a diverse group of passionate and enthusiastic young artists, interested in exploring arts for change and social action in a fun, safe and creative space. The group received presentations from a variety of Belfast arts activists including the Array Collective, Pure Mental, Another World Belfast and Alice Thompson I'Find your Why, Workshop). At the end of this year there was some specific work with 25-year-olds, a5 we approached the 25-year anniversary of the Good Friday Agreement for peace in Northern Ireland. Beat produced a Spring Neighbourhood Festival that united two communities in the Shankill area.. Lower Oldpark Community Association and Denmark Street Residents Association in Lower Shankill estate. Many performances and events produced over the year included Halloween and Christmas entertainment. Following successful delivery of the 2022 St Patrick's Day Pageant pilot programme, Beat produced 2023's Belfast 5t Patrick's Day Parade, commissioned in Belfast City Council's Creative Development Awards for a St Patrick's Day 'New Chapter. of Belfast celebrations. Innovations in our participation programme and the bespoke Parade event were well received, however production was stressful as the contract was given or)ly six weeks prior to St Patrick's Day. Over 1,000 people were involved in the programme and parade,. the audience was the largest ever, with 40,000 packing the streets all around the city-centre parade route. We devised a 'Voices of Belfast, theme, reflecting the diversity of Belfast's music culture and tradition5. Prior to the parade we compiled a Making St Patrick's Day Parade exhibition, displayed in Belfast Central Library.
BEAT CARNIVAL TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 International collaborations and relationship development included the Trans Europe Halles network and meeting in Prague.. TEH Arts Education Hub., TEH Cultural Transformation Project and MovemenL International Music project exploration with practitioners in Scotland, Metz France and Belgium,- Samba connections and ma5terclass a Pernambuco, Northeast Brazil percussion master. A long-time Ukraine cultural partner vislted Beat, facilitated by British Council. We worked with international partner5 on a proposal to participate in Voyagesffransfe5tival, Metl France in May: it did not happen as a fundirg application was not successful. It is notable that two of the creative partnerships producing performance sections for the Queen's Platinum Jubilee Parade in London wanted Beat Carnival to perforrn with them. In the end, the expected London budget wa5 reduced and it was not possible for us to travel and perform with paid artists. Artist training: Structural design and prototyping,. and Silks artwork / dying,. Arts Education and Community Arts methodology training for key Beat Community Artists-, Four Music facilitators received trainin9 Wlth London School of Samba,. a specialist Maracatu Masterclass with Alexandre Garnizé from Brazil. There was a Board and Staff Strategic Planning Day in August. Researchers were engaged on three subjects: 11 Beat Carnival Archive, particularly focused on the St Patrick's Day event, with a view to further expanding the research of our practice generally,. 2) Community Arts Workforce.. issues, needs and developmen¢ 31 Carnival Centre Building Development to improve the building, its fabric, facilities and usability. The archive researcher was further engaged on Belfast St Patrick's Day consultation and the architectural researcher further engaged to draw up a plan proposal for making Beat'5 arts activity space more accessible. This resulted in important building works to create a wheelchair accessible entrance and a disabled-accessible toilet. The Beat Carnival Centre amenity is in a Super Output Area Ishankill 2) and much of Beat's activity benefited areas of high disadvantage. Beat employed the SPOTing European project Researcher, from our long-term arts team, to work with the partners, write case studies and produce a dissemination report. Three individual placements.. one for the Prince's Trus¢ one a UU International Event Management student, another assisted Beat artists with Community Arts makes. We provided group placements for students from ArtEZ University of The Arts, Arnhem, Netherlands and hosted an educational visit by Surrey University International Events Management students to learn about our work and approach to events. Board development.. significant Beat Carnival Board recruitment of two new members bringing specia&st knowledge, experience and enthusiasm to the company included one whose first engagement had been as a programme participant. Stakeholder engagement continued on the direction of Beat Carnival's next Strategy Pla One of the many comments and endorsements received over the year is this from a Brazilian carnival performer, teacher and company/project organiser. Belfast has what for me is the most cornplete carnival HQ outside Brazil that I have ever seenl Plus the organisation hosts culture from all over the world." Beat Carnival was able to ascertain the value and effectiveness of its activity because it monitored details of participation and outcomes,. gathered feedback from participants audience,. used agreed performance indicators,- produced reports and commissioned external consultation services. 2022-2023 numbers all increased from the 2021-2022 year.
BEAT CARNIVAL TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Company and prograrnme performance PROGRAMME PARTICIPATION and AUDIENCE Number of full-time equivalent staff Number of short-term, contracted or freelance staff 131 Number of volunteer5 76 Number of volunteer hours 602 Number of participant sessions Number of individual participants Number of Artists work / development sessions Number of Performances / Event5 Number of estimated audience-attendees 344 1,787 1,620 31 137,500 Number of visitors from outside Nl 200 Number of online products (videos etcl Number of known online audience-views 69 24,861
BEAT CARNIVAL TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 CORE ANNUAL ARTS PROGRAMMES Beatstyle Carnival School Arts Education Tiny Beat & Junior Beat junior Carnival, What's the Story? & SPOTing BEATnDRUM, Brass Ensemble, Samba de Roda, Modem Rhythms Masterclasses & Community Music WTS? Neighbourhood Carnivals, Arts Services, St Patricks Day & Events Beat Carnival Muslc Social Engagement, Performances, SeNices Events, ARTS DEVELOPMENT PROGRAMMES rhe Way Forward Partnerships, Research, Carnival Centre Developmen Training Island-wide & International for inspirational research, development and delivery Networks 8eat5tyle Children'5 and young people's multi-arts at 8eat Carnival Centre Promoting wellbeing and emotional resilience, enabling our young people to express themselves in a creative and safe environment Projects are co-designed and co-directed by our young people and we constantly adapt and change programme to suit their wants and needs Carnival School Junior Carnival expanded, reaching out to 'di5advantaged communities, SPOTing delivered leadership training and consultation with young people Costume masterclass for yp Research into arts education methodology continued Beat Carnlval Mu51¢ including BEATnDRUM Weekly training and rehearsa15, mostly Samba drumming and muslc BEATMDRUM beginners, classes Brass masterclass with Mr Wilson's Secondliners 'Make Music Day. video produced Performancgs and Arts Services Neighbourhood Spring Festival Sailortown Festiva 8EATnDRUM and Beat Art15t5 performances in Belfast Mela, Maritime Festival, Lord Mayor's Day, Belfast Halloween events, Christmas Lights, ArtsEkta's Mela Parade and in other places including Lisburn, Donegal, Ballycastle, Bangor, Antrim, Coleraine, Derry, Liverpool Green Space5 Dark Skies Our Place In Space Belfast St Patrick's Day Parade University of Ulster Open Days 4 Halloween events 4 Christmas events Art5 Outreach across Belfast Artist Training and Carnival Artform development Silk painting and carnival flags & banner making Carnival Rhythms Ma5terclasses Carnival costume making and backpack design Carnival float creationldevelopment
BEAT CARNIVAL TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Netrmorks and International Participation International collaborations and relationship development included the Trans Europe Halles network and a meeting in Prague., TEH Arts Education Hub,- TEH Cultural Transformation Project and Movement International Music project exploration with practitioners in Scotland, Metz France and Belgium,. Samba connections and masterclass with a Pernambuco, Northeast Brazil percussion master A long-time Ukraine cultural partner visited Beat, facilitated by British Council. A significant meeting was held at Beat Carnival with the British Council Ukraine Office and Beat's Ukraine colleague. All are committed to developin9 collaboration in 2023-24 North 8elfast Arts Festival organising committee Percenta9e of total programme that included particular categories of participants, % groups and individuals identified as usually 'missing out,, that engaged in Beat Carnival programmes.. Participation Engagement of programme activity that involved individuals in these categories 100 People with a physical or mental impairment Newcomer or ethnic minority people and groups People living in deprived neighbourhoods LGBTQ+ people Older people (aged 65+1 Children and young people (aged 0-241 Unemployed People 100 100 100 50 80 100
BEAT CARNIVAL TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 STRUCTURE. GOVERNANCE & MANAGEMENT Nature of the Governing Document and Constitution of the Charity Beat Carnival is a registered Charity (NIC103347 and HMRC XR 827001 constituted as a Company limited by guarantee and is therefore governed by Articles of Association. The directors of the company are also trustees of the charity. Eligibility for membership of the charity, and membership of the board of trustees is governed by the Articles of Association. Relatlonships Between the Charity and Related Partles. Includlng It5 Sub5idiarie5 The charity has a social enterprise subsidiary (Beat Trading Ltd) with which it has many transactk)ns and controlling interest. The only other related parties are trustees and there are no transactions with them. Company Operations and Projert Management Beat ha5 a long-term Strategic Plan and an annual Operational Plan. Its projects operate within that framework. Projects are managed through Project Plans with timeline5 and Project Team5. The project budget 15 monitored and adjusted as necessary to ensure that spend does not exceed the project income. Beat produces detailed risk assessment for events. Beat targets recruitment and publicity to ensure that a wide cross-section of people get involved in the ompany and its programmes. Beat's Director presents a monthly financial report to the company Board. Beat operates separate cost centres on SAGE. Beat's financial statements are subject to a full financial audit at the end of each financial year. Beat management and Board of Directors regularly review financial procedures. Beat operates procurement policy and has a select list of supplier5 that is updated at the end of each financial year. Beat provides value for money by careful costing, recycling materials and having a high level of voluE)tary contribution. Beat Carnival complies with legislative regulations laid out in Equal Opportunities legislation, Ihe Disability Discrimination Act and the Children's Order, GDPR and other appropriate legislation. Beat Carnival Policies include.- a Child Protection & Safeguarding Policy, a Health and Safety Policy, Community Relations Policy, Harassment Policy, Equal Opportunities Policy and Privacy Policy. Staff Training Beat's youth programme manager completed an ILM Award Level 3 in Leadership and Management. Thi5 qualification is valuable for new, aspiring managers without formal training or qualifications that reflect their experience. Other staff training undertaken included: C03 fundraising workshop., RecruiL Retrain, Reward,. Managing Change,. Discover your Leadership,. Culture of Impact,. Cultural Governance Conference. Staff Changes The Carnival School Worker post finished (funding ended). This team member was employed in the weekly programme on a freelance basis. This provides valuable youth work expertise in our youth programme and staff team. Risk Statement Further to the above management statements, the trustee5 identify the major risk5 to which the charity is exposed each financial year when preparing and updating a strategic plan, in particular those relat to the operations and finances of the charity. The trustees then review any major risks that have been identified and establish systems to mitigate those risks. The charity is satisfied that the systems are in platr to mitigate their exposure to the major risks that have been so identified and reviewed. The charity is open to the usual financial risks of any organisation, and the charity has introduced controls to minimise these risks such as two signatures being required for payments from the bank account. In addition, the accounts are regularly explained to members of the charity and are open for member's inspection at any time. Identified risks include.. Strategic, Financial, Governance, People, Reputation, IT and Data, Health & Safety, Assets.
BEAT CARNIVAL TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Beat Carnival Centre building There were issues of concern with repairs needed to Beat Carnival Centre. Northern Ireland's uniqLE arts creation facility. We think the asset is an important, unique asset in the Northern Ireland and Belfast arts 'ecosystem' and should be safeguarded and developed for greater benefit. In this period we undertook further suNey and assessment work including a drains survey of the site. Repairs were carried out to some of the widespread water ingress. The biggest improvement was in accessibility and inclusion, with creation of an automatic entrance from Gardener Street to the arts activity room and an adjacent disability accessible toilet. FUTURE BUSINESS & PLANNING. ARTISTIC PLANNING & AUDIENCE DEVELOPMENT Produce new organisational plans and priorities Strategic Plan to 2026 Succession Plan to 2025 Youth Programme Strategy and Development Plan to 2027 Artistic Development Plan 2024 Marketing / Audience Development Plan Consider corporate structure changes that could benefit delivery of events and access to funding Artform and audience developmentPlan evaluation sessions with artists on our Carnival Arts prarti and ambitions., consult on and plan for artform development and new event5 in 2023 and 2024,. have Carnival Arts Development Week Carnival art5 Initiatives in four categories of public-facing and participatory arts.. I l Neighbourhood / North Belfast,. 21 City,. 31 Northern Ireland / out of Belfast., 41 International. Continue to provide specialist artform performance at community / neighbourhood places. Embed environmental priorities and practices in carnival and outdoor arts construction and presentation Lead Northern Ireland hub of 'Beach of Dreams,, UK & Ireland creative climate awarene55 major programme, for 2024 and 2025 Empower young people, increase the leadership and self-organising roles of yp Organi5e a significantly enhanced Youth Programme, building on current weekly provision Allocate a specific room within the Carnival Centre for yp's self-organised use Form new collaborations for a major outdoor spectacles and events, a wide range of arts, community development, social activist and environmental expertise including main partners.. W5 / Odyssey Trust QUB Sonic Arts Research Cent QUB Centre for Sustainability, Equality and Climate Action Fighting Words Nl Fietinize digital, VR Kinetika, London Donna Fox Associates, England midlands Maintain European partner projects. Participate in GB, European, international events Arts Education Hub Cultural Transformation Project and Movement Ukraine cultural platform Maintain relationships and potential for collaborations Seek alternative means to resource intemational relationships and working, now that UK is ineligible for EU funding Organise a Beat Carnival 30th Anniversary celebration festival, September 2023
BEAT CARNIVAL TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The Beat Carnival Centre building There were issues of concern with repair5 needed to Beat Camival Centre, Northern Ireland's unique arts creation facility. We think the asset is an important, unique asset in the Northern Ireland and Belfrdst arts 'ecosystem' and should be Safeguarded and developed for greater benefit. In this period we undertook further survey and assessment work including a drains sutvey of the site. Repair5 were carried out to some of the widespread water ingress. The biggest improvement was in accessibility and inclusion, with CatIon of an automatic entrance from Gardener Street to the arts activity room and an adjacent disability accessible toilet. Achievements and performance Financial reviow The Statement of Financial Activities on pages 24 & 25 report on the charitable activities in brief with an expanded analysis in the note5 on pages 28 42 to the accounts. It show5 the overall source and application of funds. The Charity had net incoming resources as at the 31 March 2023 of £28,385. 10-
BEAT CARNIVAL TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Reserves Policy The trustees have resolved to establish reseNes to provide for future needs. 1. Background The Beat Carnival company is limited by guarantee and it has no share capital. As a charitable organisation as well as a limited company, Beat has the difficulty of attempting to meet the requirement of expernlirlg funds in line with charitable objectives, as well as maintaining a solvent company that can meet unforeseen circumstances. To this end and as part of the Business and Development planning, Beat has a Reserves Policy that outlines the rationale for holding reserves. Beat will aim to maintain organisational r&erves at a level that equates to at least 50% of annual administration overheads to allow it to deal with loss of funding or other major shocks. Although Beat may not be in a position to maintain this level of free reservs at particular point in time, it Should strive to achieve a reserve that equates to this level. 2. Reserves Structure Complying with statutory and best practice guidelines, Beat reserves a split into the following categories. 111 Unrestricted funds Funds that currently have no known specific current or future purpose. These are kept to a minimum to ensure the Beat is maximising the use of its available resources. These funds will be available to SPOnd to unknown risk5 and opportunities. Unrestricted funds can be spent on anything that furthers the objectives of the organisation,. the money ha5 been generated through the Sale of services or expertise, hires, or public fundraising or donations. 121 Designated Iunrestrictedl Reserve5 - Business Ri5k5 & Working Capital The Business Risks & Working Capital fund includes allocation towards the on-going working capital requirernents for project and grant funding received in arrears. It is proposed that these reserves should also take into account any unforeseen external risks, over which Beat has no control. Such risks included the followin9'. The normal fluctuation in year on year activities this relates to the situation where Beat may have to fund a projected loss in any particular period from existing resources. Provision of effective working capital to support the organisation's programme especially as many projects are funded in arrears thereby creating a requirement for bridging cashflow. The designated reserve may be utilised on an ongoing basis to bridge this cashflow gap, and as such saves Beat from expending resources on excessive bank interest and charges. Loss of funding for specific projects, whereby Beat gap funds the project in order to maintain staff. Legal actions that may arise. which will require funding. Changes in the political environment or in legislation that may require additional unplanned resources. Costs of expert insolvency advice or fundraising as515tance. These reserves are expendable at the discretion of the directors. 11
BEAT CARNIVAL TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 (3) Designated {Unrestrictedl Resee5 - Specified Purpose If part of an unrestricted fund is ear-marked for a particular projecL it may be designated as a separate fund. This may be designated for a project that Beat is seeking to build resources for. Designation does not restrict the board members and they can change their minds. The designation will be recorded in the minutes of a board meeting. as will any subsequent re-designation. A number of designated funds may exist at any one time. Any transfer between funds and allocations to or from designated ftjnds, as well as the reasons for setting up a fund, will be explained. The current specified funds are.. Building Development and Maintenance Fund - to build a fund that will enable premises and facilities development in line with Beat's strategic plan for a Carnival Arts Centre of Excellence. Redundancies Fund to cover potential legal and contractual commitments in respect of staff redundancies. Strategic Development and Succession Fund - a fund that in part represents David Boyd's Creative Briton5 award, which was donated to Beat as an unrestricted award and which Beat has decided to designate to contribute to specific costs of creative opportunity and development. For the coming leadership tran51tion period, the Creative Development Fund is now extended to be a Strategic Development and Succession Fund, which will be particularly required in the 2023 2025 period of strategic and leadership change. 30th Anniversary Event5 Fund a fund to ensure that camival art5 celebration activities to mark the company's 30th Anniversary can be delivered. Supporting specific fund-raising for the programme. 41 Restricted Reserves Funds that have been given for particular purpose5 and projects. Within Beat this reserve usually relates to specific grant funding received in advance. This reserve will be maintained at the level required by the stipulations of the grant awarding bodies. The level of the reseNe will be calculated and agreed u) an annual basis as part of the proce55 of preparation of annual financial statements. The annual review should include an analysis of whether any of the stipulations have expired, therefore allowing the release of funds to an unrestricted reseNe. The directors will undertake to ensure that all restricted funds are SO(Y utilised in accordance with the terms of their being granted. The the first two items are 'Unrestricted Resee5,, as they are not subject to any restriction in law. Beat's Board will review the reseNe strategy on an ongoing basis in order to ensure its relevance to current business circumstances and risks. A fund designated for Succession has been added in this yearfs reserves accounts. 12-
BEAT CARNIVAL TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 The trustee5 have a55e55ed the major risks to which the charity is exposed, and are 5at15fied that systems are in place to mitigate exposure to the major risks. Risk Statement Further to the above management statements, the tNstees identify the major risks to which the charity is exposed each financial year when preparing and updating a strategic plan, in particular those relat&1 to the operations and finances of the charity. The trustees then review any major risks that have been identified and establish systems to mitigate those risks. The charity is satisfied that the systems are in plao to mitigate their exposure to the major risks that have been so identified and reviewed. The charity is open to the usual financial risks of any organisation, and the charity has introduced controls to minimise these risks such as two signatures being required for payments from the bank account. In addition, the accounts are regularly explained to members of the charity and are open for member's inspection at any time. Identified risks include: Strategic, Financial, Governance, People, Reputation, IT and Data, Health & Safety, Assets. 13-
BEAT CARNIVAL TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Structure. governance and management Nature Of The Governing Document And Constitution Of The Charity Beat Carnival is a registered Charity INIC103347 ar)d HMRC XR 82700) constituted as a Company Limited by Guarantee and is therefore governed by Articles of Association. The directors of the company are also tnjstees of the charity. Eligibility for membership of the charity, and membership of the board of trustees is governed by the Articles of Association. The trustees, who are also the directots for the purpose of company law, and who seNed during the year and up to the date of signature of the financial statements were: Mr F Galbraith Mr J W Hodge Dr W G McFadane Mr O Paulin Mrs S Campbell Mrs D. McKenna Mrs L. Dougan (Appointed 12 April 2022} (Appointed 24 October 2022) (Appointed 14 August 20231 The methods adopted for the recruitment and appointment of new directorsltrustees Members.. Subscribers are members of the company. Others must apply for membership and be approved by the directors. A member may withdraw by giving written notice, unless there would be only two members maining. Directors.. Number shall not be less than 3,- there is no maximum number. Appointment of directors: the company may by ordinary resolution appoint a director. A director may resign office by notice to the company. Company Operations And Project Management Beat has a long-term Strategic Plan and an annual Operational Plan. Its projects operate within that framework. Projects are managed through Project Plans with timelines and Project Teams. The project budget is monitored and adjusted as necessary to ensure that spend does not exceed the project income. Beat produces detailed risk assessment for events. Beat targets recruitment and publicity to ensure that a wide cross-section of people get involved in the company and its programmes. Beat's Director presents a monthly financial report to the company Board. Beat operates separate cost centres on SAGE. Beat's financial statements are subject to a full financial audit at the end of each financial ye¥. Beat management and Board of Directors regularly review financial procedures. Beat operates procurement policy and has a select list of supplier5 that 15 updated at the end of each financial year. Beat provide5 value for money by careful c05ting, recycling materials and having a high level of voluntsry contribution. Beat Carnival complies with legislative regulations laid out in Equal Opportunities legislation, the Disability Discrimination Act and the Children's Order, GDPR and other appropriate legislation. 8eat Carnival Policies include.. a Child Protertion & Safeguarding Policy, a Health and Safety Policy, Community Relations Policy, Harassment Policy, Equal Opportunities Policy and Privacy Policy. 14-
BEAT CARNIVAL TRusfEES' REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 37 MARCH 2023 The oryanisational structure and how decisions are made The board of directors/tnJstees meets 6 times a year a5 a full board. It has established sub group5 that discus5 the activf(ies of the charity in terms of financ& premiw, stsffing and programmin9. The subgroups make recommendations to the board and monitor operdtional activities. Staff have delegatÉd authortty to carry out day to day work within poliues agreed by the board. Financial standing orders gtve necessary authorisation of different amounts. The pollcies and procedure5 adopted for the Induction and training of directorsltrustse5 Prior to being elected, nominees are invited to a 8oard meeting, as well as Wsiting the premises. to meet trustees and member5 of staff, All new directors are provided with an information pack contsining detsils of the articles of association. reserve5. financi31 performance to dat¢ budgeL insurnnce cover and Marketing plan. Setting Of Stsff Salarie5 Salaries for posts are set according to the benchmark NJC Salary Scales widdy used in the voluntsry and community sector in Northem Irelar*d and endotsed and used by NICVA the voluntary settor umbrella body. The NJC payscales are local government pay5cales resukt5ng from negotiations betsveen the employer and trade union sides of the National Joint Council. The benchmark or point of comparison that was LSed when considerin9 the salary for the posts was sèlÈcted thrtsugh review and recommendation by an extem31 HR consultant. aligned to guidance produced by NICVA and agreed by the Beat Camival Trustee& Relationshipg bthè@n thÈ charity and related partie% induding its subsidiaries The charity has 3 social enterprise subsidÈary {Beat Trading Ltd) with which it has many trdf15aCttons and controlling interest. The only other related parties are trustees and there are no transactions wth them Auditor In accordan with the company's artide& a resdution proposing that FPM Accountants Limited be reappointed as auditor of the company will be put at a General Meeting. Disclosure of informotion to audttor Each of the tnkstees has confimed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken apwopriate steps to identify such relevant inforniation and to establish that the auditor is aware of such infomiation. The tru5tees' report was approved by the Board of TrLtrStees. Mr J W Hodge Twstee Dated: ...25.1912Q 15-
BEAT CARNIVAL STATEMENT OF TRUSTEES, RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2023 The trustees, who are also the directors of Beat Carnival for the purpose of company law, are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company Law requires the trustees to prepare financial statements for each financial year which ghie a true and fair view of the state of affairs of the charity and of the incoming resources and application d resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently,. observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and pnjdent., and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The tnjstees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 16-
Fpm SQ Fryd•ty. In (• t4b¥J. fJ2 (( BT55W XWJ241 T•tsJ¢ AN AAB GROUP COMPANY FPMAAE.COM I IIFO@FPMAAB.COM BEAT CARNIVAL INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BEAT CARNIVAL Oplnlon We have audited the financial statements of Beat Carnival (the 'charity'l for the year ended 31 March 2023 which COTnprise the statement of financial artivities, the balance sheet, the statement of cash flows and the note5 to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republi of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion, the financial statements.. give a true and fair view of the state of the charitable company's affairs as at 31 March 2023 and of its incoming resource5 and application of resources, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with International Standards on Auditing (UK) IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditors responsib for the audif of the financial sfatement5 Section of our report. We are independent of the charity 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 we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 17- AWARD WINNING ADVICE.. CHARTERED IIIELAMD l(M) YAI Fkg 1328 38X SH IIIM¥II WINFiiri
Fpm AN AAB GROUP COMPANY BEAT CARNIVAL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEAT CARNIVAL Conclusions relating to golng concem In auditing the financial statements, we have concluded that the trustees. use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the WO we have performed, we have not identified any material uncertainties relating to events or conditions that individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The trustees are responsible for the other infomation contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. 18- M.fpmaab.com l inf¢XLrfpmaab.corn
Fpm AN AAB GROUP COMPANY BEAT CARNIVAL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEAT CARNIVAL Opinions on other matters prescrlbed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit the infomiation given in the trustees, report, which include5 the directors, report prepared for the purposes of company law, for the financial year for which the financial statements are prepared 15 consistent with the financial statements,. and the directors, report included within the trustees, report has been prepared in accordance with applicable legal requirements. Mattors on which we are required to report by •xception In the light of the knowledge and undetstanding of the charity and it5 environment obtained in the course of the audit, we have not identified material misstatements in the directors, report included within the trustee5' report. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kepL or returns adequate for our audit have not been received from branches not visited by us., or the financial statements are not in agreement with the accounting records and returns., or certain disclosures of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit-, or the trustees were not entitled to prepare the financial statements in accordance with the Small companies regime and take advantage of the small companies, exemptions in preparing the trustees. report and from the requirement to prepare a strategic report. 19- www.fpmaab.com l infpMaab.COrn
Fpm AN AAB GROUP COMPANY BEAT CARNIVAL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEAT CARNIVAL Responsibilltles of trustees As explained more fully in the statement of trustees. responsibilities, the trustees, who are also the directors of the charity for the purpose of company law. are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for Such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the charity's ability to continue as a going concern, disclosing, as applicable, matters related to going concem and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Auditor's rèsponsibilitie5 for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statement5 as a whole are free from material misstatemenL whether due to fraud or error, and to 155ue an auditor's report that inclvdes our opinior). Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detect a material 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 economic decisions of users taken on the basis of these financial ststements. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detsiled below. 20 www.fpmaab.com l inf¢Lafpmaab.com
Fpm AN AAB GROUP COMPANY BEAT CARNIVAL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEAT CARNIVAL We obtained an understanding of the legal and regulatory framework applicable to the company through enquiry of management, sector research and the application ol cumulative audit knowledge. We identified the following principal laws and regulations relevant to the company - Companies Act 2006, Charities Act (Northern Ireland) 2008 and the Accovnting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 2019). We developed an understènding of the key fraud risks to the entity lincluding how fraud might occur), the controls in place to help mitigate those risks, and the accounts, balances and disclosures within the financial statements which may be susceptible to management bias. Our understanding was obtained through review of the financial statements for significant accounting estimates, analysis of journal entries, walkthrough of the key controls cycles in place and enquiry of management. Our procedures to respond to those risks identified included, but were not limited to.. Enquiry of management, and the entity's solicitors around actual and potential litigation and claims. Enquiry of management to identify any instance5 of non-compliance with law5 and regulations. Reviewing minutes of meetings of those charged with governance. Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. Auditing the risk of management override of controls, including through testing journal entries and other adjustments for appropriateness, and evaluating the business rationale of significant transactions outside the normal course of business. A further description of our responsibilities is available on the Financial Reporting Council's website at: https'.//www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's reporL 21 www.fpmaab.com l inf(rfpmaab.corn
Fpm AN AAB GROUP COMPANY BEAT CARNIVAL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEAT CARNIVAL This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and regulations made under that Act. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors. 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 charitable company and its members as a body, for our audit work, for this report, or for the opinions we have fomed. TL4rart Lowry Grant (Senior Statutory Auditor) for and on behalf of FPM Accountants Limited Chartered Accountsnts Statutory Auditors 1 3 Arthur Street Belfast Co. Antrim Northern Ireland BTI 4GA 22 www.fpmaab.com l inf(KLtfpmaab.com
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BEAT CARNIVAL BALANCE SHEET ASAf3T MARCH 2023 2023 2022 Nots5 Fixed assets Tangible assets CuTrent assets Debtors Cash at bank and in hand 343341 321,637 13 15.957 417226 31.690 433,183 438.400 Creditor& amounts f41ing due Tpjithin one year 14 (20,8981 {317961 Net current asset5 411285 405,604 Totsl assets less (urrent fiabilittes 755.626 727,241 Income funds Restricted funds Unresiricted funds - designated Unrestrirted funds - gener41 75 16 33&736 410.415 8A75 334M89 386,508 755.626 727241 The financial statements were approved by the Trustee5 on 25/9.- Mr J W Hodge Dlrertor Company Regtstration No. N102T189
BEAT CARNIVAL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2023 2023 2022 Notes Cash flows from operating activities Cash generated from/labsorbed by) operations 19 47,042 118,0301 Investing activities Purchase of tangible fixed assets Investment income received 137,9071 1,380 (7,5001 347 Net eash used In Inv•stlng actlvltles 136,5271 17,1531 Net cash used In flnancing activities Net increasel(decr•as•) In cash and cash equivalents 10,515 125,1831 Cash and cash equivalents at beginning of year 406,710 431,893 Cash and cash equivalents at end of year 417,226 406,710 -26-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies Charity information Beat Carnival is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 11-47 Boyd Street, Belfast Co. Antrim, BTI 3 2GU, Northern Ireland. 1.1 Accounting convention The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "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 IFRS 102)" las amended for accounting periods commencing from 1 January 20191. The charity 15 a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in steding, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 1.2 Going concern At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basi5 of accounting in preparing the financial statements. 1.3 Charitable funds Unrestricted fund5 are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restricted fijnds 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. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity. 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions he been meL the amounts can be measured reliably, and it is probable that income will be fftceived. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation,
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Charitable expenditure comprises those costs incurred by the charity in the delivery of it¢ activitie5 and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them. Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred. 1.6 Tangible fixed a55ets 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 write off the cost or valuation of a55ets less their residual values over their useful lives on the following bases.. Freehold land and buildings Plant and equipment Fixtures and fittings Motor vehicle5 2% Straight Line 20% Straight Line 20% Straight Line 25% Straight Line The gain or1055 arising on the disposal of an asset is deterrnined a5 the difference between the sale proceeds and the carrying value of the asset, and is recognised in net income/lexpenditure) for the year. 1.7 Impairment of flxed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those a55ets have suffered an impairment loss. If any such IndatIOn exists, the recoverable amount of the asset is estimated in order to determine the extent of th impairment loss lif any). 1.8 Cash and Cash equivalents 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 Je shown within borrowings in current liabilities. 1.9 Financial instrument5 The charity has elected to apply the provisions of Sertion I I 'Basic Financial Instruments, and Section 12 'Other Financial Instruments Issues. of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity 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 set off the recogni5ed amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 28-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Accounting policies (Continued) Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of nterest. Financial assets classified as receivable within one year are not amortised. Basic financial liabilities Basic financial liabilities. includin9 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 liabilitie5 classified as payable within one year are not amorti5ed. Debt instruments are subsequently carried at amortised cost, using the effertive interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinory course of operatlons frorn 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 InteSt method. Derecognltion of rflnancial Ilabilitles Financial liabilities are derecognised when the charity'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 sewices are received. Temiination benefits are recognised immediately a5 an expense when the charity 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 due. -29-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Critical accounting estimates and judgements In the application of the charity's accounting policies, the trustees are required to make judgeMt$, 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 experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlyin9 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 only that period, or in the period of the revision and future periods where the revision affects both current and future per(ods. Donations and legacles Unrestricted Unrestricted funds funds general deslgnated Total 2023 Total 2022 Donations and gifts 1636 49,355 51,991 4,293 2,636 49,355 51,991 4,293 -30-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable activities Unrtstrittèd Income Rèstrlctod Income Total 2023 Total 2022 Z023 2023 Sales within charitable activitie5 Perfomiance related grants Charitable rentsl income Other income 7,394 7,394 263,929 3,770 43 7,137 257,952 3,570 21 263,929 3,770 43 11,207 263,929 275,136 268,680 Analysis by fund Unrestricted funds - general Restricted fvnds 11,207 11,207 263,929 25,728 242,952 263,929 11,207 263,929 275,136 268,680 For the year ended 31 March 2022 Unrestricted fund5 - general Restricted funds 25,728 25,728 242,952 242,952 25,728 242,952 268,680 P•rforniance related grants Arts Council Core & Programme Funding Belfast City Council Multi Annual Funding DFQBCC Access & Inclusion (Capital) Children in Need TEO TBUC Erasmus+ ACNI - Resilience Big Lottery Other 154,248 33,000 30,000 10,500 154,248 33,000 30,000 10,500 137,288 30,000 8,428 18,334 13.607 10,700 10,000 29,595 16,169 16,169 20.012 20,012 263,929 263,929 257.952 31
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Investments Unrestrlrted Unrestricted funds funds general general 2023 2022 Interest receivable 1,380 347 -32-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Charitable activities Unrestricted Restricted Fund Fund 2023 2023 Total 2023 Total 2022 Artis¢ Performer and Tutor Fee5 Venue Rental Crew/Production Management Travel & Sub515tence Skills Training Programme Co-ordination Event Services Publicitylmarketing Materials Evaluation & Consultancy 2,457 57,827 460 8,159 1,108 747 3,383 803 1,391 5,494 60,284 460 8,159 1,494 747 3,561 803 1,391 9,933 45,714 360 2,380 3,080 386 178 2,967 1,046 2,899 5,622 5,507 4,439 7,460 79,372 86,832 69,575 Share of support costs Isee note 71 Share of governance costs (see note 7) 25,455 4,831 167,580 15,130 193,035 19,961 179,626 22,122 37,746 262,082 299,828 271,323 Analysis by fund Unrestricted funds - general Unrestricted fund5 designated Restricted funds 12,298 25,448 12,298 25,448 262,082 23,737 4,975 242,611 262,082 37,746 262,082 299,828 271,323 For the year ended 31 March 2022 Unrestricted funds - general Unrestricted funds - designated Restricted funds 23,737 4,975 23,737 4,975 242,611 242,611 28,712 242.611 271,323 -33-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Support costs Support Governance costs C05t5 2023 2022 Basis of allocation Staff costs Depreciation Office expense5 Motor Expenses Printing, Postage & Stationery Repairs & Maintenance Computer Maintenance Insurance Training & Recruitment Subscription5 & Memberships 131,280 16,202 15,403 4,841 131,280 16,202 15,403 4.841 133,379 14,739 11,784 2,849 2,561 10,908 3,682 4,971 1,672 2,561 10,908 3,682 4,971 1,672 1,783 7,336 2,253 4,303 1,515 1,515 1,182 Audit and Accountancy Legal and professional 4,440 15,521 4,440 15,521 4,080 Governance 18,042 Govemance 193,035 19,961 212,996 201,748 Analy5ed between Charitable activities 193,035 19,961 212,996 201,748 Governance costs includes payments to the auditors of £1950 {2022- £2,950) for audit fees. Trustees None of the trustees lor any persons connected with them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was: 2023 Number 2022 Number 34-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 Employees Icontlnued) Employment costs 2023 2022 Wages and salaries Social security Costs Other pension costs 108,941 7,986 14,353 111,363 7,922 14,094 131,280 133,379 No employee received remuneration of rn0 than £60,000 during the year12021 Nill. 10 Other 2023 2022 Financing costs 294 278 294 278 -35-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 11 Tangible fixed assets Freehold land and buildings Plant and Ftxtures andmotor vehides equipment ffttlnys Total Cost At 1 April 2022 Additions 345,830 31,423 50,240 58,108 6,484 45,760 499,938 37,907 At 31 March 2023 377,253 50,240 64,592 45,760 537,845 Depreclatlon and Impalrment At 1 April 2022 Depreciation charged in the year 48,279 6,977 28,519 7,504 55,743 1,722 45,760 178,301 16,203 At 31 March 2023 55,256 36,023 57,465 45,760 194,504 Carrying amount At 31 March 2023 321,997 14,217 7,127 343,341 At 31 March 2022 297,550 21,721 2,366 321,637 12 Financial instruments 2023 2022 Carrying amount of financial assets Debt instruments measured at amortised cost 15,212 30,756 Carrylng amount of financlal liabilltles Measured at amortised cost 20,898 32,796 13 Debtors 2023 2022 Amounts falling due within one year. Trade debtors Other debtors Prepayment5 and accrued income 1,453 29,303 934 15,212 745 15,957 31.690 36-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 14 Creditor5: amounts falling due within one year 2023 2022 Trade creditors Other creditors Accruals (2681 14,695 6,471 20,113 6,391 6,292 20,898 32,796 15 Restrlcted funds The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes.. Movement in funds Incoming ROur5 Balanc• at resources •xpgnd•d 1 Aprll 2022 Movement in funds Incomln9 R•sourc•s alanc• •t rnsources •xp8nd•d31 March 2023 Bjlance at 1 Aprll Z021 Arts Council Capitsl Arts Council Prograrnme Arts Council Core Belfast City Council Multi Annual Belfast City Council Commtsnity Festivals Fund Community fund Bank of Ireland Begin Together Children In Need Victoria Homes 307,587 (7,3921 300,195 17,392} 292,803 53,897 (53,8971 88,961 188,9611 83,391 183,391) 65,287 165,2871 976 30,000 130,9761 33,000 {33,0001 5,743 15,7431 5,176 15,176) 10,000 (3,734) 6,266 16.2661 3,440 (300) 3.140 5,148 18,2881 3,554 8,428 17,643) 4,339 10,500 (9,1381 5,701 1,700 11,700) 37-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 15 Restricted funds (Continued) Belfast City Council Community Recovery Support TEO - Good Relations BCC Medium Grant ACNI Commission Grant Arts Council Equipment Grant ACNI Stability & Renewal Erasmus + 3,712 13,7121 18,334 118,3341 4,687 14,6871 5,000 5,000 13,160 13,926) 9,234 13,9261 5,308 3,279 1667) 111,3791 2,612 2,228 12,612) 120,422) 13,607 16,170 (2,0241 DFC/BCC Access & Inclusion Grant {Capital} Arts Council Resiliance 30,000 1521 29,948 5,992 10,700 19,8171 6,875 16,8751 334,548 242,952 1242,6111 334,889 263,929 1262,0821 336,736
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 16 Unrestricted funds - designated Unrestricted Funds Unrestricted funds comprise those funds which the Management Committee are free to use in accordance with the organisation's objectives. Working Capital Fund The Board has allocated £150,000 towards the ongoing capital requirements for project and grant funding received in arrears Building Development Fund The Boarcl has allocated £140,000 to allow for maintenance and repair risks and for accrued deprecation Redundancies Fund The Board has allocated £40,500 to provide for potential redundancy costs Strateglc Development and Succession Fund The Board has allocated £60,000 to Strategic Developrnent and Succession 30th Anniversary Events Fund The Board has allocated £19,915 towards the company's 30th Anniversary events in 2023-24 -39-
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BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023 18 Related party transactions Remuneration of key management personnel The remuneration of key management personnel is as follows. 2023 2022 Aggregate compensation 102,203 96,292 The key management personnel is comprised of the CEO and the Operations Manager. None of the Trustees receive remuneration or other benefit from their work with the charity. Any connection between a Trustee or senior manager of the charity with organisations the charity works Wlth must be disclosed to the full Board of Trustees in the same way as any other contractual relationship with a lated party. The charity received a donation of £49,355 12022.. £2,320> from Beat Trading Limited, a company linited by guarantee whose only member is Beat Carnival. The amount due in respect of this donation at the year end was £Nil12022.- £Nill. 19 Cash gènerated from operations 2023 2022 Surplus for the year 28,385 1,719 Adjustments for.. Investment income recognised in statement of financial activities Depreciation and impaiment of tangible fixed assets (1,3801 16,202 (3471 14,739 Movements in working capital.. Decreasellincrea5el in debtors IDecreasel/increase in creditors (Decrease) in deferd income 15,733 111,898) {20,4801 19,524 {33,1851 Cash generated from/(absorbed by) operations 47,042 118,0301 20 Analysis of changes in net funds The charity had no debt during the year. 41