Charity reglstration number NIC103347 (Northern Ireland) BEAT CARNIVAL ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
BEAT CARNIVAL LEGALAND ADMINISTRATIVE INFORMATION Trustees Stefanie Campbell Lucy Dougan Frank Galbralth Oswyn Paulin Erln McGarry Nikki Morton (Appointed 31 March 2025) (Appointed 7 October 2024) Secretary Robert Boyd Charfty numb•r {Northern Ireland) NIC103347 Company numbor N1027789 Audltor HM Chartered Accountants 6th Fl¢)or East Tower Lanyon Plaza 8 Lanyon Place Belfast Co. Antrim BT13LP Bankers Ulster Bank Llmlted Arches Retail Park Belfasl BT5 4GA
BEAT CARNIVAL CONTENTS Page Trustèes, report Independent auditorfs report 13-16 ststem8nt of flnanclal 8Ctlvltle8 17 Balance Sheet 18 statement of cash flows 19 Notes to the flnancial ststements 20-31
BEAT CARNIVAL TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees present their annual r8POrt and financial statements for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charitvs governing document. the Charities Acl (Northern Ireland) 2008, FRS 102 "The Financlal Reporting Standard applicable Sn the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charlties.. Slalement of Recommended Practicé applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102)". ObJo¢tlvos and a¢tlvltla8 WHAT THE ORGANISATION DOES Beat Camival IBeatl is Northern Ireland's foremost Carnival Arts company. We create communlty arts partlcipation, carnival parades and outdoor arts performances. First city-centre parades were in 1995. We encourage our city of Belfast and communities across the country to think big about celebrallng creative, community life in ways that are ambitious and welcoming to all. Beat's artform speciallsms include drumming and music,. dance; making floats, puppets, props, costume,. street theatre,. children's arts; and craft5. There is no other camival arts organisation of the scale, 8Ctivity, history or influence in Northern Ireland. Beal Camival has introduc8d artform techniques and tralned many of the artists now worklng across the country. We provide participatlon and training programmes at Beat Carnival Centre and work with communty organisations in their spaces and places. People gain new skills. connections and support at weekly activity programmes. Carnival Arts bring new creativity to Northern Ireland's traditional experien$ of culture. Carnival, ouldoors in public spaces with peoF4e from diverse backgrounds, is expgrienced in ways that 8re culturally inclusive. The organisalion's Involvement in a wide range of local and international neOrkS increases diversity of relationships and shared benefits. Beat Carnival's programrne is provided fr88 of charge to participants and audlence, so that barriers to access and engagement are as low as possible and the activity increases equality of opportunity. Beat Camival Centre with its programme of arts creation, education, training, community outreach and events production, is a gateway for anyone interested in the developmenl of carnival arts. Artists design, create, rehearse, teach and train at the Centre. The Carnlv81 Cenlre's work makes a speci81 conlribution to festivals, community celebrations and civic events. Importantly, the premises and ils aclivities provide supportive and safe space, particularly for young people. Participants at Beat's weekly programme of open-access workshops range in age from four to over 65 years. Six evening sessions are provided each week at the Centre. Public audienc8s at Beat's events gain enjoyment and an Increased sense of communlty pride and conneGlion. '[Beat] went over and abov8 to organlse s8ssions ftir our children which we rèally appreGiate. The 8rt sessions were f8bulous. The activity was simple yet èffective and every child had fun and was engaged. The drumming sesslons wgre very different for our children, and they ab501utely loved theml" The pmgramme helped me wlth my social skllls.. "It's one in a million. you dony find groups this inclusive, in Belfasl." VISION, MISSION STATEMENT AND VALUE BASE islon The vision for Beat Carnival's work with artists, their audiences, the community, individual participants and young people is of a.. "vlbrant, colourful, creatlve and welcomlng Society" Beat Carnival will aim to achieve this through their organisational vision of being.. Yhe lead8rs in excellence of Camival artfoms". Mission The Beat Carnival mission statement is to. Make accosslble and spoctacular Carnlval, leaving a legacy of creatlve skills, collaboration, partlclpation and celebration"
BEAT CARNIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Values Beat Carnival operates to a sèt of core values: Inclusive Camival is for everyonè. Carnival activitles celebrate diverse Cultu and a common humanity with as few barriers to participalion as posslble. Quality There Is an aim for excellence in everything Beat Carnival does. Innovative Bèat Carnlval will strlvè to lake forward the carnival artfomi, creating new ideas and approaches, The skllls and knowledg8 of local artlsls and carnlval participants progressiv8ly Increase through tralnlng and experience. Carnlval wlll be devised, developed and deliveffjd In ways that 188ve a legacy of skills, ambition and achlevement wSthln communitles. Clvlc pride Camlval makes vlsible the organisatlon's great prlde in being created in Belfast Camlval makes vi51ble tha organisation's great pride in being created in Belf8St "Worng for Beat Camival is still my dream jobl To this day, every time l enter the buildlng I feel Ilke Charlie entgrfng the Chocolat8 fgctoryl I feel so lucky to be involved with such an amazing company who has given me Ihe opportunity to leam and grown as an Artist over the years." "The progr8mm& is fun, inclusiv8 and adaptable for whalever anyone wants to dol" "My favourite things are that it is gmup-led and provides for diverse activities." .1 did notice 8 Change In a numbgr of the Ghildren over the year, in terms of gaining confldence and being more wllling to share ideas, and children ft)rging new fftendships over the year." 'A SUCSS of the programmg was the joy that the class had durlng $8sslons. They were all very interested in the concept of camlval 8nd188mlng about something new."[School] Legacy Fun PROVIDING PUBLIC BENEFIT Publlc baneflt purposo Beat Camival's charitable purpose as set oul in the ¢ompany Articles Is, to advance publlc education, appreciation of and partl¢lpation in carnlval to promote arts and culture by managing an Arts Resource Centr8 as a cultural and so¢lal amenity organislng and delivering carnival events, arts workshops and other activities, evenls, perforManS and inttialives throughout the year provlding tuition in creative design, constructional, textile and performance skills promoting cultural tourism and cultural exchange and opportunities for vocational and recr8ational purposes for all groups and abilities to advance community development by engaging with and a5SlSting voluntary and community groups and organisations to organise and participate in cultural, arts, leisure and heritage projects and initiative5 to promote other charitable purposes so long as these purposes would be considered to be charltable under th8 law of Northern Ireland. "As a facilitator my hope is that all young people in the class feel welcome, he8rd and have fun. Il's been lovely watGhing them welcome in new members and be so inclusive and open. They are supportive of eaGh other, and I can really see their confidence growing within the group." "The group were very enthusiastic and often talked about how much Ihey loved coming to Bgat, and many are excited to do the sumn78r scheme. I think that IS 8 huge sucGess because thgy have fun, f881 safe and supported, and really, genuinely like coming. This group was particularfy interested in arts-making and really did producg some lovely things."
BEAT CARNIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 "The confidence of many of th8 young people grew during the year as well, quite a faw that seem8d to not like doing drama or drama games at the start werè much more confident in Gre8ting and perfom?ing stories by the end, and many requested drama games during sessions. The progr8mme is great. l always want to come back and always find new, fun things to do." 2024-25 Programm• outcomes The 2024-25 programm8 plan followed from Beat's ext8nslve development work In 2023 Involving slakeholders and a strategy consultant. Activity was planned to support Beat's strategic purpose and Arts Council Nl objectives.. The croation and facilitalion of innovative. high-quality arts activity Creating opportunities for Ghildren and young people to engage in CalIve practlc8 Improvlng access and experienGes within the arts s8Ctor for peopl8 who ar8 Dldeafldisabl8d and neurodiverse F8cilitating local communltles to engage In high quality arts experienc88, particularly In areas of low engagement linc rural areas) and areas of social deprivation Building resilience and capacity in the wider art8 sector through trainlng and mentorlng of artists and other organisations. Flve programme elements were planned to dollvor 2024.2025 outcome8. 1) Camival Arts Making and Music Outcomes: Increased access to high-quality artlstic skills training More people involved in music-maklng Identity exploration through dlverse tradltional music-making Increase best practice in 'green' arts making 21 Chlldren and Youth at Beat Carnival Centre Outcomes.. Increased access to quality arts experlence for children and youth Youth access lo and ownership of unique arts space and activities Young people feel empowered to make changes in their communities Morg pathways to employment and understandinglskills for working In the sèctor 31 Inclusive Carnlval with Dlverse Communlties Outcomes.. Increased 8c¢ess Community Arts co-deslgn and facilitation Increased in marglnallsed areas Including North Belfast Increased engagemenl and support for communities outside Belfast to oxperience and Irain in Camlval Arts Increased support for Dldeafldisabled and neurodiverse to engage wlth Carnival Arts Large-sGale events in publiG spaces outside Belfast Arts particlpation and audience increased 4) Flt for purpose organlsation that can transition to new leadership Outcomes.. Increased organisational resiliance and sustainability Leadership succession progress managed Diversified income strearns Enhanced reach and communication online 5) National and International neOrking.. exohanga, learning and promoting Nl Outcomes.. Malntained and increased participation in international neOrkIng and collaboration Increasèd support for young artists here and Europe Connections and besi praclice shared wlth Arts sector peers Arts audiences increased
BEAT CARNIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 "Since joining the freelance creatlve team at Beat I've learned 8 lot about carnival and the elements that go into producing large-scale, multi-artistic evgnts. I've been introduced lo le8ding UK camival artlsts and OrganisatnS and ltre been fortunate to work and collaborate th amazing loc81 talent." "One of the fantastic things about Beat is involving their 8rtists in feedback and p18nnintrand they offer opportunities for r8se8rch and development. They encourage artists in experimenlation and support innovalion in design, materials and lechniqu85. All of this has helped me develop my skills, grow my networks and has enriched my creative practice. WHAT HAPPENED IN 2024.25 Programm• p•rformance In 2022025 Beat Carnival provided 402 benefit activllies (workshops, events not counting 8rt15ts' sessions) for almosl 149,000 chlldren. young people and adult beneficiar188 (1,754 particlpants and 147.180 audience, not counting artists employed or trained). In those numbers, there were 360 participatlon sessions and 42 free of charge perform8n¢es and events in public spaces. Dlrect benefits provid8d by Beat Carnival's activities in 24-25 included new awareness of, and particlpation in, creative activities for individuals, for groups and communities and for the genergl public. Free-acc8ss, collaborative, camival arts activitie5 fostered good relations and anlmation of public and neighbourhood spaces, Including spaces that have been or are contested or identified with factions. Public spaces where art5 activity took place were made more welcoming for all. Beat Carnival's aclivlly increased interest in art5, in young people and under-engaged groups. Programme activity improved access to information and expertlS8 about arts for excluded people and communitles. In areas that are deemed 'di5advanlaged' it inspired ambition and enabled personal achievement and prfde. Beat created developmental partnerships with community groups and other arts companies, to incre8se representation, knowledge sharing, skills learning, specialist support, capacity bullding and the promollon of shared values. Beat's safè, imaginative and attraclive arts actlvily resulted in people engaging with others, many being chlldren and young people. Children and young people beneflled from emotional growth, personal development and increased social skills. Pleasure and fun were experienced. Participants, both individuals and groups, were better equipped to make posilive changes in their lives. Social connections were enabléd and morg péople took positive action on issues. An importanl benefit of Beal Carnival's actlvity was slgnlficantly increased support of young People, through Ihe expanded Youth Development programme. Partlclpation and audlonco The programme delivered arts education and pathways to further opportunitles and careers for younger p8opI8. Youth support, including well-being, was a c8nlral benefit,. as was training and employment for artists In a range of artfomis at the Centr8. The Beat Carnival Centrè programme provided weekly crealiv8 activities for all ages and abilities, and the Centre was a hub for many workshops and events that look place in neighbourh¢)ods and city spaces, enabling wid8 arts access and inclusion. Programme deslgn and delivery partners ranged from neighbourhoods described as disadvantaged Ideprived and rural areas who told us they felt '18ft-OLrt' of many, often entrali58d, opportunilies,. to UK and international culture partners. 1. Carnival Arts Making and Music Weekly BEATnDRUM, beginnars, sessions, Drum&Brass and Samba de Rod8 classes. 2-day music masterclasses facililaled by JP Courtney & Gabriel Lopes wSth 67 participants, many travelling from ROI and slaying in Belfast. 1-day rnusic masterclass with Alexandre G8mize and Tom Duffy. Routes from our Roots.. Music Heritage project in collaboration with Beyond Skin. Shankill Road Defenders, QUB and local Traditional Music expert5, Joe Campbell and Myles Mccormack, resulting in music recording and video release of new song composition, 'A Field of Flowers,. Green Carnival Arts with artist Alice Murphy researching and developing Ideas of how to bring new life to old, decommissioned props and costumes. and avoid adding them to landfill,. plus use of natural dyes for fabrics. Two artists al two national UK residencies on green arts.
BEAT CARNIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 2. Children and Youth Weekly Tiny Beat, Junior Beat, SOUP, BEATnTECH classes. Future Leaders sessions wlth 2 young léaders. C¢>designing a series of Masterclasses for young artists in Belfast. Carnival Arts summer scheme explorin9 young people's sense of belonging and relationship to Belfast City. 'Our Space, Exhibition in Bellast Central Library. Launch attended by Lord Mayor Cllr Mlkey Murray, the Libraries Nl CEO, and peers in the youth and arts sector. 'We'vé had, a lot of positive comments on the exhibition and many of the school kids involved have been able to pop in and see it. It's meant so much to them to see work they've helped lo create be 8xhibited in a publi¢ spac8 for all to see, so thank you so much for that., Sian Cairns, Libraries Nl. Tany8, Beat's Youth Developmenl Officer, completed Arts and Disabillty Access Award (QUB credited), Communications, and Safeguarding training. Tanya and Rebecca presented at the LINKS Empowering Young People event. Beat's Youth programme was showcased in the TIALT Case Study for Britlsh Council. UKArts, Cullure and Young People - Innovatlve pracli¢e and trends,. 3. Incluslve Camival wSth Diverse Communltle$ Empowering Young People outreach sessions Included work with Blythefield PS, Here Nl. Cllftonville CC, Annandale CC, Harmony PS, Belfast Central Library, Politics in Action, Edenbrooke PS, Holy Family PS, Belfast Metropolitan College SEN department, Annadale Communlty Centre and Downpatrick Area Youth Project. Beat Camival Centra roller-shuller mur81 producod as part of Hlt the North festlV81. Beach of Dreams-our Siren Song, signifScanl project developed and Inilialed. Engagement and arts capacity development wlth communities on the Ards peninsula, and artistic production for Our Siren Song coastal I maritime festival events in May 2025. Coastal environment awareness, experience and ¢llmate action themes. North Belfast Festival music performance in Crumlin Road Gaol. Participation in Belf8St festivals and events such as Pride, Mela, Feile etc. plus across N.1. for Halloween and Christmas. Collaborallon with youth and community groups for artistic participation in Pride. Newry St Patrick's Day Parade performances and community workshops. 4. Fit for purpose organisation that can transltion to new leadershlp Transitlon Project for leadership succession. Consultant Joe Mcvey commissioned lo assist. Recrultment processes for senior manager posts: Artistic Dire¢tor-Chief Executive and Operations Manager. Board sub-group created to oversee prosS. Commercial services and hires, g8n8rating earn8d income. 5. National and International nOOrkIng.. exchange, learnlng and promoting Nl Collaboration with UK-wide Beach of Dreams festival, 'nationally significant projecl,. Trans Europe Halles international network of indgP8ndent cultural centres. Participate In Tartu, Estonia. TEH Arts Education Hub participation. Audien¢8 development.. Marketing Plan and actions with new freelance Comms and Mark8tiri9 Post 'My favourite thing Is th8 OPPOrtunlty to get to know others and create both silly and impactful things." 'I'm nol so sure other facilitators from other places would have taken SUGh Gare. His planning and delivery was so appreciated by us all." 'Greal to have BEA TnDRUM involved in Cookstown maet, everything went really well, please pass on my thanks to all performers who were brilliantl Lovely to work wilh you." "On behalf of the team, I would like to express my heartfelt congratulations on the incredible work the Beat leam accomplished during the music heritage programme. The impaGt ofyour approach is evident, and l am thrflled to see how the project has engaged the communities you worked with. Thank you for all your hard work and commitment to the project." [Funder]
BEAT CARNIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Measurlng company and programme performance Beat Carnival was able to ascertaln Ihe value and effectiveness of Its activity because it monitored details of participation and outcomes.. gathered f8edback from participants and audience,. used agreed performance indicatots,. produced reports and commlssioned extemal consultation servlces. Number of full-time e uivalent staff Nuffir of short-lenn contracted or freelance staff Nuffir of volunteers Number of volunteer hout5 Number of artici ant sessions Number of individual ttici nts Number of Artist work sessions Numbei of Perfomances / Events Number of eslimated audience-atterKlees Number of visitors from outside Nl Number of online oducts videos etc Number of known online aUdnCe-V1ewS Percentage of total programme that included particular categories of partlCiP8nts Identified as usually 'misslng out,: % of programme acltwty that invofved indmduals in these cat ries 91 71 824 360 391 42 500 82 Categories of participation engagement Peo lewitha sical or menlal im aiment Newcomer or ethnic mirM)ri eand rou Peo le livin inde nved nei hbouthoods LGBTQ+ le Older eo Children and 100 100 100 100 50 80 ed 65+ ou eo ed O-24 .1 valu8 how Beat encouraged my ¢hlldr8n to express themselves as they wish8d, through art." .1 love being able to havg fvn and act like npyself around people, without being judg8dl' "I love how rny children werg encouraged to be crealive in different ways." .1 love being abl8 to be with and socialise with other young artlsts.. '1 love working with Beat artists, everyone is so welcoming and kind." "I like having a place to talk about diffèrent perspectives and ideas."
BEAT CARNIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE & MANAGEMENT Nature of the Govornlng Document and Constitutlon of the Charlty Beat Camiv81 is a registered Charity INIC103347) constituted as a Company limited by guarantee and Is therefore goveméd by Articles of Association. The directors of the company are also trustees of the charity. Eligibilty for membership of the charity, and membership of the board of trustees is governed by the Articles ofAssociation. Gov•rnance The Irust&es who served durln9 the year and up to the date of signature of the financlal stat9ments were: Stefanie Camplell Lucy Dougan Frank Galbraith Oswvn Paulin Deirdr8 McKenna (r8slgned 12 June 2024) Nikki Morton (appointed 7 October 20241 Erln McGary (appolnt8d 31 March 20251 Recrultment and appolntment of trustaes Members.. Subscribers are members of the company. Others must apply for membership and be approved by the directors. Amember may wlthdraw by giving written notice, unless there would be only members remalning. Diredors.. Numb8r shall not be less than 3.. there is no maximum number. Appolntment of directors.. the company may by ordinary resolution appoint a director. A director may resign office by notice to the company. Policy and procedures adoptèd for th8 Inductlon and trainlng of dlrnctorsftrusto88 Prlor to being èlected, nominees 8re Invited to a Board meeting, as well as visSting the premises, to meet trustees and members of staff. New directors are provided with an information pack Gontaining details of the articles of associatlon, reserves, financial performance to date, budget, insurance cover and marketing plan. R•latlonshlp$ tween the Charlty and related partles, Including Its subsldiary The charlty has a $o¢lal enterprise subsidiary (Beat Trading Ltd) wlth which It has many transactions and a controlllng interest. The only olher relaled parties are trustee$ and there are no transaclions wlth them, Organlsatlonal structure and how declslon$ ar• made The board of direGtorsltrust8es meets 4 tlmes a year as a fvll i)oard. It has established subgroups that dis¢uss the activities of the charity in terms of finance, premises. staffing and programming. The subgroups make recommendations to the board and monitor operalional actlvities. Siaff have delegated authority to carry out day-l day work within policies agreed by the board. Financial standing orders give necessary authorisation of different amounts. Company operatlong and project management Beat has a long-term Strategic Plan and 8n annual Operational Plan. Its projecls operate within thal framework. Projects are managed through projeci plans with timelines and project teams. Project budgets are monitored and adjusted as necessary to ensur8 that spend does not exceed project income. Beat produces detailed risk assessment for events. Beat tsrgets programme recrultment and publicity to ensure a wide cross-section of people get involved in the company and its activity.
BEAT CARNIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Beat's Director presents a monthly flnancial report to the company Board. Beat operates separate cost centres on SAGE. Beat's financial statements are subject to 8 full financial audit at the end of each financial year. Beat m8nag8ment and Board of Directors regularly review financial procedures. Beat operates procurement policy and has a select list of suppliers that Is updated at thé end of each financial year. Beat provides value for money by careful costing, recycling materials and having a high level of voluntary contribution In events. Beal Carnlval complies wlth legisl8tivg regulations lald out in Equal Opportunities legislatior), the Disability Discrimination Acl, the Children's Order, GDPR and olher appropriale leglslation. Beat Carnival Policies are reviewed and updated in a two-year cycle.. they include Child Protection & Safeguardlng, Health and Safely, Community Relations, Harassment, Equal Opportunltles and Privacy. Settlng of staff 8alarloS Salariès for posts arè set according to the benchmark NJC Salary Scalès, wldely used In the voluntary and ¢ornmunity sector In Northern Ireland and endorsed and used by NICVA, the volunlary sector umbrella body, Th8 NJC payscal8s are local government payscales resulting from negotiatlons between Ihe employ8r and trade union sldes of the Natlonal Jolnt CounGIL The benchrnark or point of compar150n that was used when Considering the salary for the posts, was selècted through r8vlew and recommendation by an external HR consultant, aligned to guldance produced by N ICVA and agreed by the trustees. Stsff tralning In 2024-25, staff and freelance artlsts received Iralnlng in: Carbon Llteracy,. Arts and Demenlia.. LGBTQIA+ Awareness- Autism Awareness,. Gender Consciousness- Political Awane$S for Youlh Practitioners; COmmunationS,. Arts and Disabillty Accèss; Safeguarding: Fire Marshall,. business development and financial resilience in Arts & Business Blueprlnt Programme,. 2 x Samba courses, Breaks & Beats and Percussion. Board received Governance Iralning. staff change• Two succession posts were recrulted for 2025-2026 lob starts., Artlstic Dlrector-chief Ex8CUtive and Operations Manager, A 8UStalnablg company: succession programmo In the pVIouS 2023-24 year, the organisalion w85 preparlng for a critical period of senior leadership transition, to replace the founder-leader retiring in 2025. This was acting in good time to have a structured, 0-Year, successlon PrOsS and put the organisation in good shape for the future. A full-time, fixed-term Strateglc Coordinator post was planned for the Transition Project, but recruilmenl was unsuccessful. The project rolè was changad to 'Tr8nsitlon Managerf,. and rather than a staff post, a freelance consultant was recruited and engaged in 2024-25. Job déscriptions for new Artistic Direclor-chief Executlve and Operations Manager were produced, the jobs advertised, and interviews carried out in FebrLtary and March 2025. The new Operations Manager will start in post on 1st April 2025 and the AD-CE on 11th August 2025. Both will have extensive hanéover periods with outgoing staff. Flnanclal r6vlew The Stalefflent of Financlal Activitiès on page 17 reports on the charitable activities in brief with an expanded analysis in the notes on pages 20-31 to the accounts. It shows the overall SOLJrce and application of funds. the Charity had net income rosources as al 31 March 2025 of£28,815 (2024.. £50.9351
BEAT CARNIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Resernes policy The trustees have resolved to èstsblish res8TVeS to provide for future needs. The Beat Carnival company is limited by guarantee and it has no share capital. As a charitable organisatlon as well as a limlted company, Beat has the difficulty of attempting lo meet the requlrement of expending funds in line with charitable objective5, as well as maintaining a solvent company that can meet unforeseen circumstances. To this end and as part of the Buslness and Development planning. Beat has a Reserves Policy that outlines the rationale for holding reserves. Beat will aim to malnlain organisational reserves at a level that equatés to at least 500/0 of annual administration overheads to allow11 lo deal with loss of funding or other major shocks. Although Beat may not be in a position lo maintain this level of free reserves at a particular point in lime. il should strive to achieve a rèserve that equates to this lev81. Reserves Structure Complying wilh statutory 8nd best practl¢e guldelines, Beat reserves are spllt into the followlng categorles. 1, Unrèstrlcled funds Funds that currently have no known spe¢lfic current or future purpose. These are kept to a minimum lo ensure the Beat is maximising th8 use of ils available resources. These funds will be available to respond to unknown risk5 and opportunities. Unrestrlcted fijnds can be spent on anything that furthers the objective5 of the organisation; thè money has been generatsd Ihrough the sale of servlces or expertise, hires, or publlc fundraising or donations. 2. Designated (Unrestrided) Reserves - Business Risks & Working Capital The Business Risks & Working Capit81 fund Includes allocation towards the on-golng working capital requirements for project and grant funding received in arrear5. It Is proposed that these reseNes should also take into account any unforeseen external risks, over which Beat has no control. Such risks included the following.. The normal fluctuation in year-on-year activlties - this relates to the situats'on where Beat may have lo fund a prolecled loss in any particular period from existing resources. Provision of effective working capital lo support the organisalion's programme especially as many projècts arè fijnded in arrears thereby creating a requirement for bridging cashflow. The deslgnated reserve may be utillsed on an ongoing basis to bridge this cashflow gap, and as such saves Beat from expending resources on excessive bank inlerest and charges. Loss of funding for specific proj6cls, whereby Beal gap funds the proled in order to maintain Staff. Legal actions that may arlse, which will require funding. Changes in the political environment or in legislallon that may requlre additional unplanned resources. Costs of expert Insolvency advice or fundraising assistance. These r856rves are expendable at the dlscrellon of the dlf8Ctors. 3. Designated (Unrestricted) Reserves- Specified PuTPOS8 If part of an unrestricted fund 15 ear-marked for a particular project, it may be designated as a separate fund. This may be designated for a project Ihat Beal is seeking to build resources for. Designalion 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 funds. 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 Excellenc8. Redund8ncies Fund to cover potential legal and contractual commitments in respect of staff redundancies. strategic Development and Succ8ssion Fund - a fund that in part represents David Boyd's Creative Britons award, donated to Beat as an unrestricled award and which Beat ha5 decided to deslgnate to contribute to specific costs of creative opportunity and development. For the leadership transition period, the Creative Development Fund wa5 extended to be a Strategic Development and Succession Fund, if needed. Beat Carnival Events Fund - a fund to ensure that strategically significant carnival arts initiatives. such as Carnival On The Coast and Our Siren Song programme and event can be delivered. Supporting specific fund-raising for programmes.
BEAT CARNIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 4. Restricted Resèrves Funds that have been given for particular purposes and projects. Withln Beat thls reserve usually relates to spèclfic grant funding received in advance. This reSee will b6 maintained at the level required by the stipulations of the grant awarding bodi6s. The level of the res6Ne will be calculated and agreed on an annual basis as part of the process of preparation of annual financial statements. The annual review should include an analysis of wh6ther any of the stipulations have expired, therefore allowing the release of funds to an unrestricled reserve. The directors wlll undertake to ènsure Ihal all restricted funds are solely utilisèd in accordance wlth the terms of th8ir being granted. The first hvo Items ar8 'Unrestricted ReseNes', as they are not subject to any restrlctlon in law. Beat's Board will revlew the reserve stratègy on an ongoing basls In order to ensure its relevance to current business Circumstances and rlsks. Major nsks The trustees have assessed the malor risks to whl¢h the charity is exposed, and are sallsfi8d that Systems are In place to mitigate exposure to the major risks, Risk Stat8mont Further to the above management ststements, the trustees identlty the malor risks lo whlch the charity is exposed each financlal year when preparlng and updating a strategic plan, in particular those related to the operations and finances of the charity. The trust8es then revlew any major risks that have been idenlifled and estsblish systems to mitigate those risks. The chartty is satisfied that the sySt8ms are In place to mitigate their exposure to the major risks thal have been so idèntified and reviewed. The chadty is open lo the usual financial rlsks of any organisation, and the charity has Introduced controls to minimise thes8 risks, such as two signatures belng required for payments from Ihe bank account. In addition, the accounts are regularly explained to members of the charlty and are open for member's Inspection al any time. Identlfled risks include.. Stratègic, Financial, Governan, People, Reputation, IT and Data, Health & Safety, Assets. 10-
BEAT CARNIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Beat Carnlval Centra bullding There were issues of concern wllh the repairs and Improvements needed to Beat Carnival Centre, Northem Ireland's unique arts crealion facility. The building fa¢ility IS an important, unique asset in the Northern Ireland and Belfasl arts 'ecosystem' and should be safeguarded and developed for greater benefrt. In Ihis period, we undertook further repairs to prevent water ingress. Futurè buslness Beat's 2023 to 2027 strategy outlines prlorlt18s for the organisation entering a new, 8XClting and bold phase. As the founding and leading team wlll retire in 2025. the 2025-26 business programme wlll enable Beat Carnival to transition and grow in the fac8 of change. 2025 is planned as a 'year of change, and 2026 as a 'year of new beginnings,. The 2025-2026 programme, lo deliver Beat's goals and outcomes, is projected to engage 1,500 chlldren, young people and adulls in 360 participatory arts activities and 220 artist development sessions, with estimated 113.000 audience at 32 free-of-charge events in public spaces. Activity is entirely allgned lo Beat's slralegic purpose and supports Arts Counc41 Nl and Belfast Cily Council strategic outcomes, We will seek 25-26 core funding uplift from ACNI for succession and sustainability, to relieve business stress. Significant, new elements of the 2025-26 programme follow from extensive development work In 2024-25 Involving stakeholders. Two princip81, partlcipatory programme developments are.. the Empowering Young People programm8', and rural capacity building in Carnlval On The Coasl, with Our Siren Song Festival as Nl partner in UK- wide Beach Of Dreams festival. The Transition Project aims to complete the company's leader succession, and the Blueprint (Arts & Buslnessl programme will support financial resilience. A new Marketing Action Plan aims to increase engagemenl and develop new audiences. Beat will be pro-active in the Irish Street Arts & Spectacle network and the Impact Practice Network. For sector advancement, leading carnival arts growth, Beat aims to form a carnival collaboration structure wlth all-lsland neorking. Beat will seek financial support for European leaming and collaborallon, with Inlernational Munich Arts Lab. Gen Arts and sustainablllty initlallves will include Participatlon in a Futures Literacy co-daslgn UK tearn. We want lo develop artists, studios 8nd accesslbilily plans for the Carnival Centre. ststement of trusteès. rosponslbllltlès The trustees are responsible for preparing the Trustees, Report and the financial statements In accordance with appllcable law and United Kingdom Accounting Stsndards (United lQngdom Generally Accepted Accounting PractlC6). The law appllcable to charltles in Northern Ireland r6qulr8S the trust88S to preparè flnanci81 stat8ments for each financial year which give a true and fair view of the state of affairs of the ¢harlty and of the Incoming resources and applicatlon of resources of the charity for that year. In preparing these financial statements. Ihe trustees are qUired to: seled suitable accounting poliGies and than apply them consistently; - obseNe the methods and principles in the Charities SORP., make judgements and estSmates that are reasonable and prudent- state whether applicable accounting standards have been followed. subject to any material departures disclosed and explained in the financial statements.. and prepare the financial statements on Ihe going concem basis unless it is in8ppropriate to presume thal thè charily will continue in operation. The trustees are responsible for keeping sufficienl accounting records that disclose with reasonable accuracy at any time the financial posilion of the charity and enable them to ensure that the financial statements comply with the Charities Act (Northern Ireland) 2008 and the provisions of the trust deed. They are also responsible for safeguarding Ihe assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 11
BEAT CARNIVAL TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Audltor In accordance with the company's articles, a resolution proposing that HM Chartered Accountants be reappointed as auditor of the company will be put at a General Meeting. Dlsclosure of information to auditor Each of th8 trustees has confirmed that there Is no infomiation 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 appropriate steps to identify such relevant infomiation and to establish that the auditor is aware of sud) information. The trustees. report was approved by the Board of Trustees. anie Carnpbell Trustee Date.. 12-
BEAT CARNIVAL INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF BEAT CARNIVAL Opinion We have audited the financlal statements of Beat Carnw81 (thé 'charity'l for the year ended 31 March 2025 which comprise the stalement of financial activities, the balance sheet, the statement of cash flows and notes to thè financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is appllcable law and United Kingdom Accounting Standards, includlng Financial Reporting Standard 102 Thg Financial Reportlng Standard applicable in the UK and Republi¢ of Ireland (United Kingdom Generally Accepied Accounting Praclice)- In our opinion, the financlal stat8ments', give a trua and fair vlew of the state of the charity's affalrs as at 31 March 2025 and of Its Incoming resources and application of resources, for the year then ended., have been properly pr8pared in accordance with Unlted Klngdom Generally Accepted Accounting Practlce; and have been prepared In accordance wilh the Charities Act (Northem Ireland) 2008. Basls for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKI) and appllcable law. Our responsibilities under Ihose standards are further described in the Auditors r8sponsibilities for the audit of the financlal statements section of our report. We are independent of the charity in accordance wrth the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled our other ethical responsibilities in accordance with these requiroments. We believe that the audit evidence we have obtained is sufficient and appropriate to provSde a basis for our opinion. Concluslons relatlng to golng concern We have nothing to report In respèct of the following matters in relation to which the ISAS (UK) require us to report lo you were.. the directors, use of the going concern basis of accounting in the preparation of the financial stalements is not appropriat8', or the directors have not disclosed in the financial statements any identified material uncertalntles that may cast significant doubl about the group's or the parent company's ability to continuè to adopt the going concern basis of accounting for a perlod of at least e1ve months from the date when the flnancial $t81ements are authorlsed for Issue, Other Informatlon The other information comprlses the Information Included in the annual report other than the financial statements and our auditorfs report thoreon. The trustees are responsible for the other information conlained within the annual report. Our opinion on the financlal stalements doos not cover the other information and we do not express any form of assurance conclusion thereon. Our responslbility is to read the other informallon and, in dolng so, conslder whether the olh8r informatlon Is malerially inGonsist8nl with the financial statements or our knowledge obtained in the course of the audit, or otherw6e appears lo be materially mlsslaled. If we idenknfy such material inconsistencies or apparent materiel misstalements, we are requlred to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have perforrned, we conclude that Ihere is a material misstslem8nl of this other information, we are required to report that fact. We have nothlng to report in this regard. 13-
BEAT CARNIVAL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEAT CARNIVAL Opinions on othor matters prescrfbed 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 for the financlal year for which the financial statements are prèpared, which includes the directors, report prepared for the purposes of company law, Is consistent with the financial statements., and the directors, report included within the trustaes. report has been prepared in accordance with applicablé legal requirements. Matters on whlch wo arn requlred to report by axcoptlon In the light of the knowledge and understanding of the charity and its environment obtained in the cours8 of the audit, we have not identsfied material misstatements In the directors, report included within the Irusts8s' report. W8 have nothlng to r8POrt in respect of the following matters In relatlon to which the Charltles Accounts and Reports Regulations (Northern Ireland) 2015 requlres us to report to you if, in our opinion: the informatlon giv8n in the financial statements is Inconsistent in any materlal rèspect with the trustees, report; or sufficient accountlng records have not b88n kept., or the financlal statements are not in agreement with th8 accounting records; or we have not received all the infomialion and explanations we require for our audit. Rosponslblllile8 of trustees As explained more fully in the statement of trusteos, responsibilities, the Iruslees are responsib18 for the preparation of the financial statements and for being satlsfied that they give a true and fair view, and for such internal control as the trustees delermlne 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 conllnue as a going concern, disclosing, as applicable, matters relaled to golng concem and using the golng concern basis of accounting unless the trustees either intend to cease operations, or have no realistic alternativ8 but to do so, Auditor's rasponslblllties for tha audlt of tho flnanclal ststomènts Our objectives are to obtaln reasonable assurance about whether the flnancial statements as a whole are free from material misstatement, whether due to fraud or error, and lo issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance but Is not a guarantee that an audit conducted in accordan with ISAS IUKI will always detect a rnaterial misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregale, they could reasonably be expected lo influence the econom1¢ declslons of users taken on Ihe basis of these financial statements. A further description of our responslbilltles Is available on the Finan¢lal Reporting Councll's webslte at.. https'.11 www.frc.org.ukjauditorsresponsibilities. This description forms part of our audilorfs report. 14-
BEAT CARNIVAL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEAT CARNIVAL Our approach io identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compllance with laws and regulations, was as follows: the engagemènt partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compllance with applicable law5 and regulations. we identified the laws and regulations applicable to the company through discussions with directors andlor senior management, and from our commercial knowledge and expèrience of the sector,. We focused on spèclflc laws and regulatlons which we considered may have a dlrect m8terlal 8ffect on the financial statements or the operations of the comparby. including Companies Act 2006, taxation legislation, data protection, anti-brlbery, employment, envlronmental and health and safety leglslatlon we assessed Ihe extenl of compllance with th8 laws 8nd regulations Id8ntlfled abov8 through making enquiries of management and Inspecting legal correspondence,. and identified laws and regulations were communicated within the audil team regularly and the team remalned alert to instances of non-compliance throughout the audit. We assessed the susceptlbillty of the company's financlal statements io materlal mlsstatement, Including obtaining an understanding of how fraud rnighl occur, by: making enqulries of management as to where they considered there was susceptibility to fraud, Ihelr knowledge of actual, suspected and alleged fraud,. and considering the Internal controls In place to mitigate risks of fraud and non-compliance wlth laws and regulations., To address the rlsk of fraud through manag8ment bias and override of controls, we., performed analytical procedures lo identify any unusual or unexpected rèlationships-, tested journal entries to Identify unusual transactions., assessed whether judgements and assumptions made in determining the accounting estimate5 set out in Note 2 were indicative of potential bias; and investigated the ratlonale behind signrficant or unusual Iransaclions., In response to the risk of Irregularlties and non-compliance with laws and regulatlons, we deslgned procedures which included, but were not limitèd to: agre8ing financial staternent disclosures to underlylng supportlng documentatlon., reading the minutes of m6èllngs of those charged with govemancè., enquiring of management as to actual and potential litigation and clalms,. and reviewing correspondence with HMRC and the company's legal advisors., There are Inherent Ilmltatlons in our audlt procedures described above. The more removed Ihat laws and regulations are from flnancial transactlons, the less likely it is Ihat we would become awa of non-complianc8. Auditing stsndards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the direGtor5 and other management arbd the Inspection of regulatory and legal correspondence, if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. 15-
BEAT CARNIVAL INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF BEAT CARNIVAL Use of our report Thls report is made solely to the company's members, as a body. in accordance with Chapter 3 of Part 16 of thé Companies Act 2006. Our audit work has been undertaken so that wè might state to the company's members those matters we are required to slate to them in an audlloes report and for no olher purpose. To the fullest extent pemiittéd by law, we do not accept or assume responslbiliiy to anyone other than the company and the company's members as a body, for our audit work. for this report, or for tha oplnlons we have formed. HM Chartered Aeeountants Chartered Accountants Statutory Audltor 6th Floor East Tower Lanyon Plaza Belfasl Co. Antrim BT13LP 0711012025 HM Chartered Accountants Is eligible for appointment as auditor of the charity by virtue of Its eliglbility for appolntment as audltor of a company under section 1212 of the Companies Act 2006. 16-
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BEAT CARNIVAL BALANCE SHEET ASAT31 MARCH 2025 2025 2024 Notes Flxed assets Tangible assets 12 332,143 339,220 Current assets Debtors Cash at bank and in hand 13 9,196 513,331 29,231 451,881 522,527 481,112 Credltors: amounts falllng due wlthln one year 14 (20,094) (14,571) Net current assets 502,433 466,541 Totsl assots le88 curront Ilabllltlos 834,576 805,761 Net aggets 834,576 805,761 The funds of the charlty Restricted income funds Unrestricted funds- general Unrestricted funds - designated 16 408,751 11,294 414,531 382,213 13,352 410,196 17 834,576 805,761 The finanaal statements were approved by the trustees on .. Stefanie Campbe Trustee 18-
BEAT CARNIVAL STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 Notes Cash flows from oporatlng actlvltlos Cash generated from operations 20 61,939 42,604 Investlng actlvltlo5 Purchase of tsngiblè fixed assets Investment Incomé received (7,273) 6,784 (13,393) 5,445 Nat cash used In Investlng actmtlès (489) (7,948) Not cash generated from flnanclng actlvllles Net Increa80 In cash and ca8h •qulvalonts 61,450 34,656 Cash and cash equlvalents at beginnlng of year 451,881 417.226 Cash and cash equivalents at ond of y•ar 513,331 451,881 19
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policies Charlty Information Beat Carnival is a private company limited by guarantee incorporated in Northern Ireland. The registered office is 11-47 Boyd Street, Belfast, County Antrim 8T13 2GU, Northern Ireland. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charity's governing document, the Charities Act (Northern Ireland) 2008, FRS 102 "The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" The charity is a Public Benefit Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the functional currency of the charity- Monetary amounts in these flnancial statements are rounded to the nearest £. The financial statements have been prepared under the hlstorical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at falr 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 charity has adequate resources to continue in operational existence for the foreseeable future. Thus the tnstees continue to adopt the going concern basis of accounting in preparFng the financial statements. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives. Restrlcted funds are subject to 5peclfic conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set OLrt in the notes to the financial statements. Endowment funds are subject lo speclfic conditions by donors that the capital must be malntained by the charity. 1.4 Income Income is recognised when the charity is legally ents'tled to it after any performance condltions have been met, the amounts can be measured reliably, and it is probable that income will be received. 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 al the time of the donation. Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset. -20-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollc188 Icontinued) 1.6 Expendlture Expenditure is recognised once there is a legal or constructlve obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dIrt costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribule to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset's use. 1.6 Tanglble flxed assets Tangible fixed assets are InStially 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 valuatlon of assets less their resldual values over their useful lives on the following bases.. Freehold land and buildings Plant and equipment Fixtures and fittings Motor vehicles 20/0 straight Ilne 200h straight line 200A straight line 25% straight line The gain or loss arising on the disposal of an asset is detemiined as the difference beeen the sale proceeds and the carrying valu8 of the asset, and is recognised in the statement of financial activities. 1.7 Impalmient of fixed assets At each reporting end date, the charlty reviews the carrying amounts of its tangible assets to determlne whether there is any Indication that those assets have suffered an impairment loss. If any such Indation exist5, the recoverable amount of the asset is estimated in order to determine 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 ar8 shown within borrowings in current liabilities. 1.9 Financlal instruments The charity has 8lected to apply the provisions of Section 11 '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 paty to the contractual provisions of the instrumenl. 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 recognised amounts and there is an intention to settle on a net basis or to realis8 the asset and settle the liabilty simultaneously_ 21
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounting pollcles (Continued) Baslc 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 Ihe effective interest method unless the arrangement constitutes a finanang transaction, where the transactlon is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Baslc financial Ilabilitles Basic financial liabilities, including creditors and bank loans are initially recognised at transaction pri unless the arrangement constitutes a financing transaction, Whe the debt instrument Is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordInY course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transacts'on pric8 and subsequently measured at amortised cost using the effective interest method. Derecognltion of financlal liabllltlos Financial liabilities are derecognised when the charity'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. Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed to temiinate the employment of an employee or to provide termination benefits. 1.11 Retlrnment benefit8 Payments to defined contribution retlrement beneflt schemes are charged as an expense as they fall due. Crltlcal accountlng astlmates and Judgement8 In th8 application of the charity's accounting policies, the truslees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are review8d on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects tlY that period, or in the period of the revision and future periods where the revision affects both current and future periods. -22-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 Income from donatlons and legacles Unrestrlcted Unrestrlcted funds funds designated deslgnated 2025 2024 Donations and gifts 31,059 47,772 Income from charltable actlvltleS Unrestrlcted R6strlcted funds funds 2025 2025 Totsl Unrostricted Restrlcted funds funds 2024 2024 Total 2026 2024 Charltable actlvltles Sale of goods Perfomiance related grants Charitable rental income Other income 16,095 1,651 17,748 22,146 3,316 25,462 335,779 335,779 2,960 320,271 320,271 3,690 183 2,960 3,690 183 19,055 337,430 356,485 26,019 323,587 349,606 P•rfomance relat•d grants analysls Charltable actlvltles 2025 Charltabl• actlvftles 2024 Arts Council Core & Programme Funding Belfast City Council Multi Annual Funding Arts Council Equipment Ards & North Down Borough Council Erasmus+ PRS Foundation The National Lottery Community Fund- EPY The National Lottery Community Fund- Domant Accounts BCC Other ACNI other 137,288 33,500 5,075 7,768 143,138 33,000 12.835 9,000 71.171 24,450 21,677 5,000 83,223 50,000 4,753 34,172 335,779 320,271 -23-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Income from Investments Unrostrlcted Unrestricted funds funds 2025 2024 Interest re1vable 6,784 5,445 Expondlture on charltable actlvltles Charltsble actlvltles 2025 Charltabla actlvltles 2024 Dlro¢t C08ts Artist, Performer and Tutor Fees Venue Rental CrewlProdu¢tion Management Travel & Subsistence Skills Tr8ining Programme Co-ordination Event Services Publicitylmarketing Materials Evaulation & Consultancy 69,936 1,013 661 3,185 749 16,021 79,915 1,089 1,725 7,171 1,061 23,362 4,644 4,342 4,285 5,108 7,144 4,815 15,481 119,005 132,702 Share of support and governance costs Isee note 7) Support Governance 236,029 10,089 200,767 18,836 365,123 352,305 Anatysls by fund Unrestricted funds - general Unrestricted funds - designated Restricted funds 27,507 26.724 310,892 23,970 50,225 278,110 365.123 352.305 -24-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support costs allocated to activities 2025 2024 Staff costs Depreciation Office expenses Motor expenses Printing, postage & stationery Repairs & maintenance 178,544 14,350 10.747 3,653 1,915 15,456 3,324 6,027 1,091 922 10,089 137,448 17,515 13,536 3,032 2,238 16.735 2,787 5,834 1,031 611 18,836 Insurance Tralning & recruitment Subscriptions & memberships Govemance costs 246,118 219,603 Anatysed between: Charitable activities 246,118 219,603 2025 2024 Governance costs comprlse: Audlt and accountancy fees Legal and professional 5,640 4,449 3,610 15,226 10,089 18,836 Trustee8 None of the trustées (or any persons connected with them) reiVed any remuneration or beneffts from the charity during the year. Employees The average monthly number of employees during the year was.. 2025 Number 2024 Number -25-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Employees (Continued) Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 158,763 11,942 7,839 122,740 8,132 6,576 178,544 137,448 There were no employees whose annual remuneration was more than £60,000. Remuneratlon of key management personnel The remuneration of key management personnel was as follows.. 2026 2024 Aggregate compensatlon 109,544 108,045 10 Other •xpendlture Unrestricted Unrestrlcted funds funds 2026 2024 Financing costs 390 383 11 Taxatlon The charty is exempt from taxation on its activities because all its income is applied for charitable purposes. -28-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 12 Tanglble fixed assets Freehold land and buildlngs Plant and Fixtures and oquiwnènt rIng5 Motor vehlcbes Totsl Cost At 1 April 2024 Additions 377,253 4,570 63,833 64,592 2,703 45,760 551,238 7,273 At 31 March 2025 381.823 63,633 67,295 45,760 558,511 Depreclatlon and Impalrmant At 1 Aprll 2024 Depreciatlon charged in the year 62.801 7.636 43.524 5,354 59,933 1,360 45,760 212,018 14,350 At 31 March 2025 70,437 48,878 61,293 45,760 226,368 Carrylng amount At 31 March 2025 311,386 14,755 6,002 332,143 At 31 March 2024 314,452 20,109 4,659 339,220 13 Debtors 2025 2024 Amounts falllng due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 1,185 6,864 1,147 3,222 25,057 952 9,196 29,231 14 Credltors: amounts falllng dua wlthln one year 2026 2024 Trade cdItorS Other creditors Accruals and deferred income 8,135 5,316 6,643 3,224 4,935 6,412 20,094 14,571 15 Retirement benefit schemes 2025 2024 Defined contribution schemes Charge to profit or loss in respect of defined contribution schemes 7,839 6,576 -27-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 1S Retlrement beneflt schemes (Contlnued) The charity operates a defined contribLrtion pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 16 Restrlcted funds The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. Incomlng Resources At 31 March resources expended 2026 2024 Ards & North Down Borough Councll Beat Camival Centre Capital Arts Council Core & Programme Arts Council Equipment Grant Belfast City Council Arts & Heritage Belfast City Council CMAG The National Lottery Community Fund - EYP The National Lottery Community fund - Equipment DFCIBCC Access & Inclusion (Capital) The National Lottery Community Fund- Dormant Accounts Awards For All Kinetika Samba Masterclass 7,768 (1,860) (6,917) (137,288) (3,696) (18,930) (33,500) 164,825) 5,908 278,900 285,817 137,288 5,075 4,753 33,500 e1,382 1,786 14,177 3,165 24,288 20,845 1,841 1891) (600) 950 28,748 29,348 23,654 50,000 19,972 14,200 1,651 (24,155) (3,808) 19,630) (4,794) 49,499 16,166 4,570 3,143 382,213 337,430 1310,892) 408,751 -28-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 16 Restricted fund8 Icontlnued) Previous year: At 1 Aprll 2023 Incomlng resources Resources At 31 March expended 2024 Arts Council Commission Arts Council Capital Arts Council Core & Programme Arts Council Equipment Grant Belfast City Council Arts & Heritage Belfast City Council CFF Belfast City Council MAF The National Lottery Communlty Fund Children in Need DFCIBCC Access & Incluslon (Capital) Dormant Accounts Eramus+ PRS Foundation Samba Masterclass 5,000 292,803 5,000 (10,000) (6,986) (143,138) (3,522) 285.817 143,138 5,308 1,786 14,177 14,177 7,500 33,000 71,171 {7,500) 133,000) 146,883) (5,701) (600) (796) 110,811) (9,000) 1173) 24,288 5,701 29,948 29,348 23,654 24,450 12,835 9,000 3,316 (2,024) 3,143 336.736 323,587 (278,110) 382,213 336,736 323.587 (278,110) 382,213 Restricted funds are legacies and donations received for specified purposes wlthin the overall aims of the Charity. -29-
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Unrestrlcted funds - deslgnated These are unrestricted funds which are material to the charity's activities. At 1 Aprll 2024 Incomlng resourc88 Resources expended Transfers At 31 March 2026 Working Capltal Fund Building Development Fund Redundancies Fund Succession Strategy Fund Beat Camival Events Fund 160,000 130,000 40,500 44,696 35,000 31,059 (26,724) 164,335 130,000 40,500 44.696 35,000 410,196 31,059 (26,724) 414,531 Prevlous year: At 1 Aprll 2023 Incomlng resource8 Resources expended Transfers At 31 March 2024 Working Capital Fund Building Development Fund Redundancies Fund Succession Strategy Fund Beat Carnival Events Fund 150,000 140,000 40,500 60,000 19,915 47,772 (50,225) 12,453 (10,000) 160,000 130,000 40,500 44,696 35,000 {15,304) 15,085 410,415 47,772 {50,225) 2,234 410,196 Unrestricted funds comprise those funds which the Management Committee are free to use In accordance with the organisation's objectives. Working Capital Fund - allocated towards the ongoing capltal requirements for project and grant funding received in arears Building Development Fund - 8llocated to allow for maintenance and repair risks and for accrued depreciation Redundancies Fund - allocated to provide for potential redundancy costs Strategic Development and Succession Fund - allocated to Strategic Development and Succession Events Fund - allocated towards events held 18 Unrestricted funds The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. Transfers At 31 March 2025 At 1 Aprfl 2024 Incomlng resources Resources expended General funds 13.352 25,839 (27,897) 11,294
BEAT CARNIVAL NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Unrestrlcted fund$ (Contlnued) Previous year: At 1 April 2023 Incomlng resources Resources expended Transfers At 31 March 2024 General funds 8,475 31,464 (24, 353) (2,234) 13,352 19 Related party transactlons The charity received a donation of £31,05912024: £47,722) from Beat Trading Limited, a company linitad by guarantee whose only member is Beat Camival. The amount due in respect of this donation at the year end was £Nil (2024- £Nill 20 Cash generated from operatlons 2025 2024 Surplus for the year 28,815 50,135 Adjustments for: Investm8nt income recognised in statement of financial activities Depreciation and impairment of tangible fixed assets 16,784) 14,350 (5,445) 17,515 Movements In worklng capltsl: Decreasel(increasel in debtors Increasel(decrease) in creditors 20,035 5,523 (13,274) (6,327) Cash generated from operatlons 61,939 42,604 21 Analysls of chang0$ in net funds The charity had no material debt during the year. 31