Company r¢gistration number.. N1072553 Clwity r¢gis#Mtion numb¢T.' 103457 Belfast Platfonn for the Arts (A compony limit¢d by rantee) Annual Report and Fknan¢iAI Stst¢m¢Dts for th¢ Ye4r Ended 31 March 2022 Hopp¢r & Co Chartcred Accountsnt & Re8istsred Auditor 6 Doagh Rd Bally¢lar¢ Co Antrim BT39 9BG
Belfast Platform for the Arts Contents Reference and Administrative Details I to2 Trustees, Report 3to5 Sttemcnt of Trustee5' Re5pollsLbilitics Ind¢pendet)t Ex8min¢V$ Rtyort stsment of Financi Activiiies BAl8nc¢ Sheet Not¢8 w the Finw)cial Statements Ioto 16
Belfast Plarforni for the Arts Reference and Admlnlstrative Details TnLStees: Meadhbh McIlgonn (Resied 21 April 2022) Eilish M¢tAughlin {ReSid 20 May 20211 S3h Rehill (Rcsi8ned 5 May 20211 Declan Proctor (Resigned S May 20211 Aine McGuinness (Resigned 21 AprÉl 20221 Sharott McKeown (Rcsi8ll¢d 5 May 2021) Jessica GU[ (Resigned 21 April 2022} Latisha Reihill lapp)inted 5 May 2021 and R¢5igtLed 21 April 2022) Malachy M(CrL[en (appointed 5 May 2021 ortd Re5igJJed 21 April 2022) Holly Foskett {appoind 6 May 2021 and R¢stgnol 19 O¢tolr 20221 Lawa HaTheythham (appoioted 20 May 2021 and Resi8ned 21 April 2022) Xayier Meade Cosra {#ppoinied 5 May 2021 and ResigneAJ 25 March 20231 Sinead Camernn (Resigned 3 February 2022) La]ka Dawdikova (appointed 20 April 2023) Ekaterina Solomatina (appointed Imay 2022) Ekaterina Buryakova (appTrinted l October 2022 and Resi1 16 May 2023) Arny Gibney DevliD (appointed l March 2023) Chloe Astin {appTrinted 20 May 2022 and Resigtled l (ktober 20221 Charity Registration Number 103457 compa R¢glstrAdon NuDther N1072553 The clL8rity is in¢oryoJa¢ed in Nonh¢m Ir¢lgnd Page I
Belfast Platforni for the Arts Reference and Adrnlnistradve Detalls Reglstered oifjre Unsts 37-38 Connswater Shopping Centr¢ Bloomfield Avwie Belfwt BT5 5LP IDdep¢Dd¢nt Hopper & Co Charter1 Aceountant & R¢g&stered Auditor 6 Doa8h Road B8lly¢lAre Co Antrim BT39 9BG BkerS HSBC Royal Avenue 25-29 Royal Avetkue Be]ft Co Antrim BTI IFB Page 2
Belfast Pl8tforni for the Arts Trustees, Report The tntsiees, who are also dirttiors for the purposes of company law, present th¢ir at)nual report tO8¢th¢r with the financial statements of the charitable company for thc year ended 31 March 2022. L¢8al admtnistsxtive inf0Mtion i$ contained oth the company infornmtion p&g¢ prrfe&ling this repoTL ObJe¢tlwe8 And edvltles Objects Belf481 PIArfomi for the Arts { kno1 &8 Plaffonn ) is a voluntary org8nis8tion established Én May 2009 by a group of ¢on¢¢rned individuw16 to a88i$t p¢r90tt8 with artistic tsl¢nts to promote themselves kn the senerdl public and lo advance the education and undcrsthrMlin8 of thc public in the promotion and appreciation of the Arts in Belfast and bcyond. We seck to acheive this by holth'ng regular cxhibitions and a progrnmme of events deS1¢d meet these obie¢tiYes. We are an arttst led Sl0 and eomtempor8ry art gallery now b&qed in E&81 Belfast. Our role is to actively promote CTeativc CXPTC55ion. prc8cntation and accc5S to ¢ontcmtx>rary Brt prnrticc through our Exhibition, OUtrL¢b and SMdio Progromm¢s. W¢ are m8tVLg¢d by a Board of DiTtors draw from 8 wid¢ range of orB4nisations conncctcd the Art5, all of whom hav¢ prnGtical WOTkinB knowlrdg¢ of thr Arts, 4TMI who #r¢ well qugilfird and ¢xp¢ri¢n¢¢d in th¢ir fields of ¢xp¢rti8¢. Pbllc benefv We A58i5t crncr8in8 krtisis in neee89ilou8 eLrcurnsiart¢es to beeorne 8tlf-iupportin8 by the prtiviyiort of gDJdio spa¢¢ and fAciliiies, advice And trainin8, allowin8 them to develop their ialenls. We alsL) maname an arena for public art exhibition8. demon8tr8tion8 lecbJre8 and a6 a centre for other art related activities which encourn8cs appreciation for and participation in community based arts actlVLtie5 desiLed to ¢nablc mcmbth¥ of th¢ Beneral publt¢ to explore their ¢r¢8tivity. The8¢ tiVitieS 8erv¢ to edu¢ate gnd iThf¢)rni the 8¢n¢T41 publi¢ in the appreciation of thc art8. Th¢ trustccs confirm that they havc complicd with th¢ r¢quiTcmcnts of section 4 of the ChHritlC5 Act 2008 to have due re8aTd to the public benefit guid)ce published by The Charity Cornmission for Northern Ireland. Pa8e 3
Belfast Plarforni for the Arts Trustees, Report Acbievemts nd ptrf&rnJanee Since op¢niTLg during 2021 in the Q>nTthvat¢r shop8 (x>mple4 we bave rnade a strong Connecti and establislryl oury¢lves as part of the cotomuDity and ecosystem tbere. E45t Belf sc¢n a ¢reativ¢ gentrifiratiott ittitiative which Platform has played a part in. With 'in persoll, exbibitions rebjrning to post C4)vid norniality in March 2021 we decided to mov¢ ba¢k from virtual exhibitiotts to fully Te-onIng the gallery once agaiTL to the publi¢ atml Corttin with ¢v¢nts similar those pnor to the Covid 19 pottd¢mi¢. With our new improved premises thi5 was the time to establish our n]aTk in EASt B¢lfast with support from Centre management other local galleries #roun(L In November 2021 w¢ hosted Plaiforni's first Salollathon Exhibition which w&8 opett invitatton for local artists to submit work to be exhibited resulting in 70 artWQTk5 from both professional and novi¢¢ artists. Th¢ ¢xhibition generated a huge amount of interaction and interest as well &8 doJJatioJJs to the gallery. It fi]med 8nd documented by l(Kal TV chatlnel Nvfv which put our slanjp on our new horne Én East Belf85t. With a newly ¢stabli5h¢d residcnr¢ and th¢ abÈlity to have'in person, events 28ain th¢ spa¢e ha$ welcomed three new artists in residence which has hclped support the g8]lery with attd maifitenae costs. In 2021-2022 the gallery has received exhibition applicatioTLS from both local and intertiOnal artists which is how helping to build Plarforni's ststus a$ at) established Belfast artist ruD. artist led, 8allcry. The future goa15 of thi5 arts organisation ¢enr¢d 8round building a strongtt commw)ity sptrit at)d col]ecttve minds¢t among the members of Plarforni. Financial revlew The main incomin8 resources are doDatiotLS from manir5 for the use of sbJdÉo accomodatiotl. ITt addition the Platforn) bcn¢ifts frorn the use of th¢ B¢lfa5t pr¢mises on a Jtnt f b&¥És, the notional rent value of £35,0 p.a. is shown &8 ly)th an itKomitJ8 and outgoi8 resource. Structsrej govern8Dce and management Nafyre ofgoverning documeMI B¢lfa5t Plarform for the Art5 i5 a company Itmit¢d by 8uarante¢ whi¢h 1$ 8ov¢m¢d by its M¢morandum and Articlcs of A4sociation. Trustee4 who a akn Executive Committee members, are nominatcd and elect atLallY by full tneTnbers at the AGM and 0150 by th¢ Executive Committee during the year to fill casual vacancies should the need arise. Existing CommÈttee member5 are eligible for re<lectiOlJ. Office Bearers ¢le¢ted by th¢ Co11ttce from among their number at th¢ fitst fidl Comn)it*c meeting after the AGM. Manag¢Tnent of the charity i5 Undertak by thc Tntstees. No reTtLuri¢ration for s¢Thi¢es is poid to Tnwee. Po8e 4
Belfast Plarforni for the Arts The charitrfs aL#tviti¢s it to a of rmalai Tisks inchHling Lyedit risL flow risk and liquidity risk. The us¢ of f781 derivatives i$ govttrtd by the cFwity'$ poli¢ie$ 8ppmal by b¢ of truste which povide written pnlpleS ots the ttye of ftial dcrivatives to ttmtsage these risks. The ¢h&rity does not Cashjlow The charity's activities exp)se li wunarily w the finan¢i81 risks of changes in d<110 a] eveni ted iDctX The of studio accomodation is clrtsety nitOr¢4 8Dd re8ulareveots ate held to matntsto ioc(Mne. Th¢ ¢hity'5 ¢tAlit rtsk i5 priwily attr11)ble to ILS trle E1VablE. Th¢ #¥EKKuts prntal in the balaur¢ shttt are net of allowancts for (k)ubtl receivables. An atlowattt for llnpirment is madt vAJere there is an identified loss event FAsed OD expen is evid¢Dce of a rthtion ia the rwovwability of the e4sb flows. The annual rertW&S 90vedbYthe trDste&4 ofthe L*atity 15 June 2023 sThl si8Ded on its bebalfby.. Ekaterina Solomatina Diwtor30d Trte Devlin Pa8¢ 5
Belfast Plrforn for the Arts Statement of Trustees. RespoDslbllltles The t Iwkn arc alxTr the diTrc¢oT5 of Bclfast Pl8tfoTm for thc Arts fw thc PUrrM of company law) are res)nsible for pretArin8 the trStee8. r¢tx)rt aryl the fin4131 Stst¢ftx in a¢cordan¢¢ with appli¢able law 8Th1 UDitrJJ KÉngdom Acco11 Standards Iuoited Kin8d(¥n CKDEtally Airw ACCnting Practicek includin8 FRS 102 Yhe Financial Rewting applicabk Én thc UK Ryblic of Ireland". The re[ 8nd companies. the Inwttts must r#X 4Jprov¢ the stytenKoty 1¢8$ they wi$fi that they give a and fair view of the s¢tc of affair5 of thc chaTitsblc cLxllpAny aNI of thr resourc and applic4tion of res0ce includin8 its in¢om¢ and eXdi1 of the ¢h¥ritsbk 1p1 for puiod In prtPaTing thrx finbnci slut¢ments. the are required .. select Suitable accountin8 policies aThJ wly them cfjNistemtly: state whdher appli¢abk attowiting sithd& ¢omryising FRS 102 halt be¢n followe4 subicct b) any m8t¢ri41 d¢pAthwu dis¢loged and ¢xplaine41 in the fman¢i41 thl pr¢pare th¢ fin8181 on the going ¢Lm¢¢m trAsi5 unless li is in4VW to pre&ill that the The trustees are respible for keepin8 countin8 records that disclos¢ with re•8on•bk x¢urg¢y 41 any Thme the finthciAI p)sition of thc chDritable comwy tnd cnthlc them to t4wurc thRt the financial ststements comply with the c(MpleS Ao 2(k)6. Try are Also rwible for s&fegwrding ¢k a$8ets of the charithble ¢ompany arwj hcncc fortskins re%thle for the prcvcniioD arma dereaion of frnud and oth¢r IrreIlriti¢j. Th¢ thJste¢s are respon8ibk for the maintt¥wKY knd inwity of thc ¢4XEXXatc and financial inforT[tiO includAI on the critable websi. L¢8is18tioo governiDB the weFdr*thon Ind di8¥emitiOn of ApprovAI by the trugt¢e8 of the choriry on 15 June 2023 4Dd its behdf ty. Ekaterina Solomatina Dire¢wr Tn£ Amy ey Devlin Direcknr4nd Tn1(
Belfst Plarfonn lor the Arts Independent Examlner'8 Report to the trustees of Belfst Platform for th¢ Arts ('the Company 2022. As the charity's In of Belf1 Platforni for the Arts (and also its diredtys for th¢ pwpos¢s of conwiy law) you are respm8iblt for the preprtitiQD of . You wMidc¥ •n wdit is TW)t TtqUiTed for this year UT¥Jer 5CCtion 65{21 of th¢ cba1cl Ad (NtxthNn Ir¢Id) 2Tr)8 {th¢ 2(Kb8 Ak4) fjthl that tn inthpAd¢nt Having tisfi mys¢lf th8¢ th¢ CoUnts of Bel[ P14tforrn for thc Art5 not Trquired ts bc auditsd and are eligible for cxarninatiot4 I reim in respect of my exwninthon of yow ¢huity's accounts as ¢arri¢d out undersection 05{3) of the 21KJ8 A¢L ID (Wlng oui my examiMti(ffi I h¢ followtyj th¢ D[re¢t1 8iven by the ChtiTity commi551( fw Norfljcrn Irclazbj UIK sCCtiLKk 6519Xb)of the 2( Act. Indep¢nd¢nt ¢XAthr's stt¢raeat examin10ft 8ivin8 ts) believe: . a¢)11n8 M%re k¢0 in of B¢lft the Arts w yirAI by S¢10 386 of the Companics Act 2(. or 3. th¢ •¢¢outtt• th> not ¢ompty with the K<oun¢in8 r¢wiren%nts of se£tion 396 c•f the ComF•thi¢8 A¢t 2006 4. the acc4unts hwe been Fyqxred ill with th¢ W11p1¢s of th¢ StaI¢M of Rrorn PtBctice fw Xc(tIn8 And rewting by chwiiie$14pplicabk to chLtieS prepfjn'ng their occounts in Kcordaxe with thc Fill11 Reportin8 Stsrthrd applicabl¢ ID the UK and Republic of It¢laTrl IFRS 102)]. I have no $hould be this l¢POrt Mich] H tant & Kc8iSteTe4J Awjitr ed A¢¢ountsLts Irclthj Ballyclsre Co Antrim BT39 9BG 16 Jw)e 2023
Beif8st P12rform for the Arts Ststement of Flnanelal Acilvltles for the Year Ended 31 March 2022 n¢luding Income Expenditure Arcount and Statement of Total Recognised Gain5 nd Losses) Umrestricted nds Totsl 2022 Nole lo¢ome Elld0wunts fromL Donation$ 8ttd l¢ga¢i¢s 41,125 41,125 Total it)come 41,125 41,125 EipenditUTe Raising fijnds 44,007 Tot0] expendittwe 44.Tr)7 44.007) Net exFlitur¢ Net llw)vetncnt in funds 2,882 2,882 (1882) (2.882) Re¢oth¢ilKtion of fu#d¥ Tots] furwJ5 brought forward Tots] fitswjs earried forward 12 255 Umrestrltted 255 Total 2021 No¢e Income atsd Ethdowmellts from: Donations and legacics Investh)¢nt InMe 41082 42,082 Totsl income 42,083 42,083 Exptnditsre oty: Raising funds 42,840 Total expenditure 42,840 (42.840 Net expenditure 757 757 Net movem¢tht itt fittmts {757) (757) ReCellI(lOn of Totsl fimds br1 fotWO 3.895 3.895 Total fithds ¢arTied forward 12 3.138 3.138 All of the ¢haritys artivities derÉve from continuing operntions during th¢ above two peri(th. The fuftds breakd¢ for 2021 and 2022 is shown in note 12. The notrs OD pages 10 tr1 16 forni aD integral partof these financial statements. Page 8
Belfast Platform for the Arts (Reglstratlon number: N1072553) Balance Sheet ai at 31 Morch 2022 2022 2021 Note CrTeD¢ gmets Debtors C&sh At Attd ith hand 350 io 2,516 5297 Credlton: fallln8 Ivlthl ye•r 2,261 Net •Mets 255 Furtdi ofthe thrlty: Unrn8trletsd theon 255 Tot*1 12 255 3,138 For the financial y¢or endiTh8 31 March 2022 the chLty w88 ¢ntitled to ¢x¢mption from audit wider 8¢ction 477 of th¢ Compani¢8 A¢t 2006 r¢latin8 to smhll MPl¢S. DirtttOf5' rcsp)n5ibililie8'. Th¢ mcmbcr5 hAVC T¢ Tequired the charity to obtain audit of its #ccounts for the year qucstiort in rd&nc¢ with 8c¢tion 476; ond The directors xknowled8e their respoDsibiliti¢s for complying with th¢ r¢4uir¢ments of the Act with r¢8pec¢ to ae¢ountin8 rceords and the pr¢p&r&tion of acCots. The&e financial statememts have b¢¢Th pr¢red in accordan¢¢ with the special pmvisions relating to ¢ompani¢o 6ubie<t the 6m811 ¢omp8nies regime within PArt 15 of the Compafties Ath 2(Kt6. Th¢ financial Stsl¢rtnts on pa8¢5 8 to 16 W¢Te opprov¢d by th¢ trte¢s, and Auth0ri6ed for issue on 15 Jun¢ 2023 and SL8ned on their behalf by.. Ekat¢rina Sol¢Nnotin4 Dircctor and Tnte¢ qt0 Amy cy tkvlin D]rtOr Tnt¢¢ The notes OD pgges 10 to 16 fom) gn int¢w] part of th¢5e fuJ4ncial sthtemcnts. Pag¢ 9
Belfast Plarfonn for the Art$ Nota to the Flnn¢ial Stxtsments for the Year Ended 31 March 2022 I Chxrlty The charity is limited by 8uardllte¢, in¢orporat¢d in NortIll Ireign(t and cO$t4U¢tIY dots uot have slwe capttsl. Ea¢h of thc twsttts i5 li&ble to contribute amourt not exceedin8 £1 towar¢ts the &8sets of the charity in th¢ event of liquidation. Tbe ldress of its gister1 offi¢¢ is: Units 37-38 CoDnswater Slwpin8 Centr Blty>]nfield Av¢nu¢ BelfÈst BT5 5LP These financial stst¢ments wer¢ authorised for issue by the tnLses on IS June 2023. 2 Accounting pdiries Summry of significant accoun¢iDg pollcies god key 8tcotytttlttg estlmat The principal accountin8 policies applied in the tffeparation of these financial stst¢m¢nts ar¢ s¢t out below. These polici¢$ hav¢ consistently applied to all the years prescntc(L unless othcrwise ststed. Stslempnt of compliaDce The financial tht¢¥tLents have been prepared in accorth¢ with Accountin8 and R¢[lg by Ch8Titi¢s: StatemeDt of Pra¢ti¢¢ appli¢able to dwitics preparing their accounts in accordance with the Financial Rwrting Stsndard applicabl¢ in the UK and Republic of Ireland (FRS 102} l¢ffe¢tiv¢ l JattuAry 2015) - IChaTiti¢5 SORP (FRS 102)). the FiTwicial R¢porttng Standard applicable in the UK and Republic of Irelalld IFRS 102). Th¢y also comply with th¢ Compwies Act 201 llJKI Charitics Act (Northem IrelaThll 21M>8. Basls of preprllo Belfast Platforni for the Arts meets the definition of a public benefit entity under FRS 102. Assets atyd liabilities are initially re¢ogtsised at histotical c05t or transaction Val uDle5S OtheThvise stated in the relevant accountin8 policy notes. Goittg concer The financial stateMts have been prepgred a 80in8 conlxrn b&81& The tmstees ass$ whether the use of going is appropte ix. whether there ate any matetial urLC¢rtaintie5 related to events or conditioThs that may c&8t $1gttificat doubt the ability of the clwty to continue as a going con¢em. The truth¢5 Tnake this ass¢5STtL¢TLt in respect of a pertod of one year from the date of approval of lh¢ fjnancial Stat¢ents. IDcom¢ *Trd All illcom¢ is recolS¢d once the ¢harity I5 entiilem¢nt to the incorne. it is proFAble that the income be received and the amount of the income receivable can be musuwd rtliably. Pag¢ 10
Belfast Plfdrforni for the Arts Note5 to tbe Fln4ncll Statements for the Y¢ar Ended 31 March 2022 Donation8 are when the ¢h&rity has notified writiD8 of both the amount and settlement date. In th¢ ¢v¢tht that 8 dot%8tion is subject to &)nditions that rcquire a level of perfOanCe by charity befort the charity is eThtit]ed to funds. the income is dcfwred And not r¢cognis¢d ¢ither those conditions are fvlly ItieL or the fulfilment of those ¢dItionS is wholly within th¢ ¢ontrol of the dlarity and it 15 probable that the8e conditions will be fulfilled in the reporting period. Grnmts recelwble GTaTts are reco8ni5ed when the ch&rity has an entitlement to the fiJnd8 and any ndItIon8 linked to th¢ 8r4nts have been m¢L whe p¢rforni8n¢¢ ¢onditi¢)ns are attach¢d to the 8raDt aDd are yet to be met. the incoine is re¢ognised as a liability and its¢lud¢d on th¢ b8lAnce sheet as deferred income to bc released. DoMieds¢pvlc¢s dlI1•s Wh¢r¢ 8¢1vi$ or faciliti¢s are pn)vided to the ch8rity a5 a dONn thDt would nonnally be purchttsed from our S11¢r& this bcnefii is included in the financial $tst¢ments At iv$ foir vglu¢ unless iv$ fair value be Tcliably mrUred, then at th¢ cosi to the donoror the resale volu¢ of gwd8 that are to be sold. GW old IOming T¢80UTCeS from tsx rKI8irn$ Ar¢ Inc1ed in the Ststernent of FInWla1 Activities w the SWh)e time hs the sift to which thry rejate. Expemdlture All eXpend1th is r¢co8niBed once there is a le8al or constructive obligation to thit expenditur¢. it is probabl¢ scttlemcnl 1$ requir&1 and th¢ omount can b¢ me4surol reliably. All cost8 are allocated to the applicable exwdiftmr heading thai ag8r¢yt¢ similor wsts to th&t cat¢80ry. Where costs cDnnot bc dircctly attributcd to tArticular headings they hAV¢ allrtAted on a basis con$istent with th¢ use of resouw¢s, with c¢ntr81 st8ff ¢08ts Allocad on th¢ b1$ of tim¢ spent, and depreciation ehar8es allocated on thc r10Th of thc a55Ct'S USC. Other 8UPPOrt ¢osts ar¢ all44 based on th¢ 8pr¢ad of st8ff $t. Th¢8¢ 8Te Costs in¢urred in attracting voluntary income, the managcment of investtnents and th08e incurted in tradin8 activities that rnise fiumts. Support ¢oits Support Costs in¢l¥de eentrhl fitywtions And hgv¢ been allocated to a¢tivÉty cost cale8ories on a basi8 COllS15tcnt with the us¢ of ttsources. for cxamplc. allocatin8 property costs by floor areas. or per eapil4 5thff ¢osts by th¢ lime Spent and othor co8ts by their usllge. The charity 1$ considered to P988 the ¢e8ts s¢t out tn P8r8gt8ph I Schedule 6 of the Finance Act 2010 and therefore it meets the definitton of 8 ¢h8rit8bl¢ company for UK corpordtion tax purposcs. Accordingly. the charity 15 Potentially exempt from laxation in r¢5PKt of income or Gapitsl gain5 rtr¢iv¢d CAlegoriG8 ¢w¢r¢d by Chapt¢r 3 Pfyrt I l of the Corporation Tax Act 2010 or Scction 256 of the Taxalion of Chargeabl¢ Gains Act 1992, to thc extent that such income ot gains Are Applied exclusively to charitable purposes. T*•glble thed asxts IT1¥7dUaI fixed ass¢ts ros¢in8 £1.00 or more are initially r#(MQed at ¢osi less any subsequent accumulatrd d¢pre¢i8tioD subsequent accumulatd impaimient losses. P8g¢ll
BeIrt Plarform for the Arts Notes to the Flnanclal Statements for the Year Ended 31 March 2022 DeprttlatioD aDd anwrlltlon Ikpreciation is provided on langible fixed 85scts so 88 to write off the cost or valuotiory 1¢88 ony ¢8tirnat resithml value. overtheir ¢xprft useful e¢onomi¢ lif¢ &5 follow8.' Aset daa FwnitUTe and equipm¢Tht D¢preclatloD Iiiethod r8tr 33Yo straight line Tr•de debtorj Tradc debtors ttmaunts due from ¢u8tomern for mebandI8¢ sold or 8wvi¢¢8 r¢rfornxd in th¢ ordinary cowse of business. Trade d¢btors or¢ r¢¢ognised initially at the transaction pricc. They are subsqucntly mcasured at wnorti5cd c05t U8lll8 the effcetive intcrcst rneth(¥l less provi8iott for tmpaimwnL A provision for th¢ impainnent of tr8d¢ debtots is es¢ablished when th¢r¢ is obj¢¢tiv¢ ¢vid¢nce th&t the eh8rity will tLOt be able to collect all amounts due according to the original termB of thc rcceivablc5. Clih •nd emih e4ufv#1ets Cash and c8sh quivalenls compTXSC C85h on hmd ond eHII deposits, other short-t¢mb highly liquid irwe51rncnts thAt are TtAdily conv¢rtibk to & known amount of ¢4sh atMI 4r¢ subjecl to an insi8nifi¢8nt risk of ¢hang¢ in value. Trade credlto Trad¢ creditors are oblig4tion8 to py for 8LKKlJ or thRt haye be¢n a¢quirtyJ in the ordinary ¢our8¢ of ixtsincss from 5upplkeTY. Accounts payoble ar¢ ¢1gsstfid os awent liabilities if the charity does noi have an wi¢onditionil righ¢ at the end of the reportLII8 period. to defcr scttlcrneTht of the crcditor for at leasi tw¢lve ftnths aft¢r th¢ reporhng dAtc. If thcrc is an COndItIonal ri8ht to dcfer 8ettlemetht for at It¢ twelve months after the reporting they are Ftt8¢nted ag nonrfutT¢n¢ ligbiliiie8. TrJc CTeditors reco8fti5ed initially At the transaction price and subs¢qu¢ntly m¢ured 41 aM(rti ewt using the efftciive in*re$i metho Fund structure Unrtstri¢tcd ithcome fimd8 are g¢n¢rnl that are 8V8Llabl¢ for u0¢ 81 the trustees dixretion in furthernnc¢ of the objectives ofthe cknity. c151flCU1Ith1 FinwJ¢io1 &8sets And fin8neial liabilities Ar¢ rtto8thi8ed when the charity bworn¢8 th Parfy to thc ¢ontrncftI provisions of the instrument. Financiwl liabiliti¢5 and equity instn1m 8re classified a¢cordin8 to the substance of thc c0ntrnctj llrrangemcnts cntcrcd into. An equity in5trumcnt is ¢onts#¢t thw¢ ¢wd¢tt¢¢s o r¢$iduAI intert$t itt the ts8ets of th¢ Charity aft¢r dUCtIng all of its li8biJiti¢s. Pa8c 12
Belf48t Platfom for the Arts Notes to Ihe Flnanelal Statements for the Year Ended 31 March 2022 All fin8ncial &8sets and liabilities are initially measured ai trallsaction priee (iKluding transadion cos¢s), excepi for thosc financial 85%ts cl355ifie4J 85 at fAir value through profit or loss, whtch are initially Meured at fair value (which 1$ nomwlly the trans8¢tion pricg ¢xcluding trans&¢tion eostsl. unless the arrangement C0Th5titutGs a fintIng trantion. If gn alrangement coThstitutes a finaTJcing transactio the financial asset or fiTJan¢ial liability is TEheasured at the present value of the payments discowited at o market rnt¢ of interest for Similar (kbt in8trum¢nt. Financia] assets and liabilities are only offset itt the st8t¢rneot of financiol posilioo wh¢0 and only wh¢n th¢r¢ ¢xists a l¢gally ¢ttforce•bl¢ right to set oty the rttoBniscd amounts and the charity inttnds either to 5cttlc on nct ba8is. or to ruli5C thc And settl¢ the liability simultaneously. Financial assets are dcrccognis¢d wlth only wben a) the ¢ontrn¢tt41 rights to the ¢h tlow$ from the finon¢i81 ass¢t ¢xpir¢ or ar¢ 8¢ttl¢d b) th¢ ¢harity transf to onother psrty substsntially Hll of the risks and Teward8 of ownership of the financial a&8e( or c) the charity. dcspit¢ hlving ret&iTwJ some. bui TWI all, Significant risks and r¢wJrd8 of owtttrthip. hD5 transf¢nvJ c4xJtrol of the $¢1 to 0th¢r party. Finan¢ial li&bilitl¢8 or¢ d¢Teco8nised only wtKn th¢ obligation 6pecifi¢d in the contract is dischzr8¢d. caneellcd or expires. J Ill¢ don•tlo•• and l¢ga¢k• urtrAc fund# Ge#tral Tot1 Donation5 and legacies., Donations from individuals (Irants, including ¢APital grants; Grants frorn other chEriti Dothd services fa¢ilitie8 Oth¢r itwrne from donstions and le8acics Total for 21122 1,857 35,( 228 1,857 35,OC4) 228 41,125 41.125 Total for 2(121 Unregtrleted funds Cenernl Totql Tot1 for 2022 Toll fvr 21121 P&8e 13
Belfmt Plarform for the Art8 Not¢$ to tke Trlnan¢tsl StstsmeRts for the Year Ended 31 March 2022 S Exp¢odltv¢ OD Totsl nds Gevr*l Donated servi¢es 8nd Bifts ID kir Allated support Costs Tolal for 2022 35.(Krti 9.7 35,(KX 9.iN)7 44.IK)7 To¢#1 for 2021 42.840 42.840 Pagc 14
Beif28t Plarform for the Arts Notes to the Flnancll Sttements for the Ye•r Ended 31 Marth 2022 Totsl Net (ALt8oin8 r&wrc¢8 fw the yeBT incl. 2•22 8 T•xitlo• 9 Dtbton 2022 2•21 Ttr•Je debtors 350 I• Cmh and eqthk#ts 2•22 2•21 I I Credllon: IXts fl]Ini dv lthlm •meytar 2022 2•21 Tr&k ¢rtdiwrs 5fA) 1,179 480 1241 .020 Ac¢nthls 12 Fun& B¥1•£¢ t I ApTiI 2•21 BlDte It 31 m£ 2922 3,137 41,125 255 Pa8e 15
Belfast PlarfonD for the Arts Notes to the Flnanclal Statements for the Year Ended 31 Mar¢h 2012 BlKe t I April 2020 #ce at 31 Manh 2021 42,083 (42,840) 3.138 13 Anal15 of assets betwetA Unrestri¢ted T1) TndS xt 31 Marek 2022 2,516 1261 2,516 (2261) 255 255 U#restri¢l¢d Total funds at f•fjds 31 Mar¢h 2021 5297 2.159 5,297 Currcnt ]iabilitie5 3.138 3.138 14 ADaiysls olmet f•n AtiApr 21121 At 31 M8r¢k 2022 4,947 4.947 Nddc 4,947 Al l Aprll 202 4,947 At 31 Mar¢h 21)21 S.3(1 5.3 Net debt 5.3 5.3 Pa8c 16
Belfast Plarform for the Arts Statement of Flnanelal Actlvltles by fund for the Year Ended 31 March 2022 Unrestricted Funds Tolal Total Unrestricted Unrestricted Fund$ 2021 21122 Income and Endowmtnts frnm: Donatiotts and l¢ga¢ies Inv&8tment income 41,125 42,082 Totsl illcon 41.125 42.083 EXndItre ott: Raising fJnds Total ¢xpcnditu Net exndItUTe (44.007) (41840) 42,840 2,882 757 Net tnoyement in funds (2.882) {757} RecoDcilia¢ion of fuDd5 Totsl fid$ brought fonvard 3,137 3,895 Total funds catried foThvard 255 3,138 This page do not fornipart of the statutory finoncial st2tem¢nt& P8g¢ 17
Be]fa$t Plgrform for the Arts Detslled Ststement of Flnanclal Aedvldes for the Year Ended 31 March 2022 Total 2022 Tot41 2021 Income and from: Dottatiotts artd l¢g¥rics lanHlysed below) InveBtrn¢nt in¢¢)me {4naly8ed below) Totsl income 41,125 42.082 Expelldlture on: Raising fund5 (analysed bclowl 44,007 42,840 Tot81 expenditure 44.007 42.840 expenditure 2,882 757 Net mov¢m¢nt in fiu)ds (18821 (757) Rtconclll*tlon of fllndi Total funds bn)ught foThvard Total fvnds wried forward 255 3,138 This d¢xs not forni part of the stathtory financi81 $tstem¢thts. Page 18
Belfast Platfonn for the Arts Detalled Ststement of Flnantixl Artivltles for the Year Ended 31 March 2022 Total 2022 Total 2021 Donllrfofts ottdlrytlcles Grants- other &gencies Dottoted us¢ of facililies Renthl inMne Othcr in¢om¢ 1.857 35,0(K) 5.797 35.000 1.285 228 41.125 42.082 (Jher iorne Pro8rgmme co$t8 Rent And rnt¢5 Water rates Ligh( Ind powcr Insurance Rcpairs and main*t)An¢¢ Tclqjhonc snd f Sundry cxpcn8e8 Cle•oing Independ¢nt ¢x8min¢rf8 fee 12.1101 I35.)0) 16011 135.(M)01 71 16851 (1,9621 {2,7721 {1.3271 (53) (31) 480 11.9211 11,6961 11,9771 1365) {267} 540 44,007 42.840 This page does not form part of the stsllltory finatt¢t81 sthtements. Page 19