THE NERVE CENTRE LTD (A company limited by guarantee) Directors Report for the year ¢nded 31 March 2023 The dire¢tors pr¢sent tlieir annual report and the audited financial statements for the year ended 31 March 2023. Directors and thelr Interests The directors of the charity for the purposes of charity law and who Served during the year were as follows: Andrew McAfee Michael Hamlyn John M¢ Gowan Shauna Kelpie Tess Mc Maginess Edward Friel Principal activlty The principal activity of the company in the year under review was that of running a multimedia arts centre. Structure? governance and management Governin Document The Nerve Centre is a company limited by guarantee and established under a Memorandum of Association which established the objects and powers of the charitable company and is governed by its Articles of Association. It is a registered charity with the Charity Commission. Recruitment and A ointment of the B f Directors The directors of the company are also charity trustees for the purposes of charity law and under the compllny's Articles are known as members of the Board. At the Annual G¢neral Meeting one third of directors retire in rolation and being eligible offer themselves for re-el¢ction. 2Y Risk Mana ement The directors have a risk manag¢ment Strate which consists of establishin8 a system of identifying risks and mitigating such risks. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Statement of disclosure of Informatlon to audltors We, the directors of the company who held otTice at the date of approval of tliese Financial Statements, as set out above, each confirm so far as we are aware, that: there is no relevant audit infonnation of which the company's auditors are unaware; and we have taken all the steps that we ouglit to have taken as directors in order to make ourselves aware of any relevant audit inforniation and to establish that the company's auditors are aware of tliat inforniation. FlnanclAI Rovlcw Budgelary controls and constant reviews of all expenditure continue to be implemented this period and have not hindered business of Tlie Nerve Centre in achieving their primary purpose. Controls taken at the management level will continue to the coming financial year with continous monitoring throughout. The financial uccounts show a surplus of £273,248 with reserves of £3,569,396. Princi al Fundin Sourceg The principal funding sources over the relevant financial year have been Nl Screen, Arts Council of Northem Ireland, British Film Institute, Derry City & Strabane District Council, SEUPB, South West College, Heritage Lottery Fund, Festival 2022 and Paul Hamlyn Foundation. The company maintains a strong relationship with its funders and have secured funding ivith them for the foreseeable future. Page 2
THE NERVE CENTRE LTD (A company limited by guarantee) Chairperson's Foreword This year lias been an unprecedented year for creative programming at the Nerve Centre with our Unboxed project with Oliver Jeffers, Our Place in Space, dominating the year. This large scale sculpture trail launched in Derry in April 22 breaking a world record for the largest number of astronauts in the one place, before moving to Belfast in June. Cambridge in August, Liverpool in October before returning home to Cultra in February 2023. At each location the trail included a full education programme including online resources for schools, an interactive app and animation programme of events, festivals and workshops. Our Place iii Space was one of the best perfonning of the Unboxed Festival projects with audiences in excess of I million aiid at the time of writing our Augmented Reality App and Minecraft World has been downloaded over 3 million times across 150 Countries. We also engaged over I million at the 4 locations. 156,000 attended events and 28,000 students took part in educational aspects of the project. This large scale project was additional to our regularly funded activity supported by our Gore funders. Our largest funder, Northern Ireland Screen, Continued to provide their annual support for our film festival, reative learning centres, academies, film clubs and exhibition programming. Nerve Belfast moved into tlie new location at W5 in Belf&st with Nerve Belfast delivering a variety of STEM training programm¢s during August and Sept¢mb¢r including sessions in coding and Min¢¢raft. At tl)e ei)d of the year Nerv¢ Belfast hosted a free full-day series of events on Tuesday 21 February 2023 to otTicially launch th¢ir new training facility Within W5 LIFE with a symposium on film education. Tlie centre-piece of the symposium was the public launch of the Shortcut website and learning programme which makes freely available 20 European short films exploring sensitive and challenging social issues wliich are iinpacting negatively on tlie physical and mental liealth of young people. Our delivery would not have been possible witliout the support of all our CO funders such as Dery City and Strabane District Council (who support core building costs and the Annual Foyle Film Festival), Belfast City Council and Community Relations Council. Meanwhile back in Derry, Foyle Film Festival celebrated its 35th year and a decade-long partnership with Brunswick Moviebowl. Audiences were great for the festival with over 25 sold out events of the 80 screenings and events which took place at the festival. FestIval favourites Cinematic Breakfasts and Dementia Friendly Screens rethrned with some all-time classics - and this year we welcomed our first collaboration with Foyle Foodbank - offering a series of Foodbank Screens supporting the local community, the public are encouraged to donate much-needed items to the foodbank instead of the usual ticket fee. Page 3
THE NERVE CENTRE LTD (A company limited by guarantee) .continued In February we relaunched our regular cinema screenings at the Nerve Centre committing to every Wednesday and Thursday night. Audiences have been gr¢at and the programming has been excellent as a resLIIt of the n¢iv DCP projector which allows us to get the most recent releases. In March, we delivered both the Reel Lives Film Festival and Schools Film Week with additional support from Northern Ireland Screen. Our music activity including gigs, music courses and music facilitie5 also began to return to normal with courses, gigs and CaDi programmes. We continued to provide many live perfonnances in our venue showcasing local perforniers and international acts as well. In a major coup Nerve Centre booked Bell X I for a show at the Derry Jay2 Festival in May 2022. The show was the smallest venue on the tour and sold out within minutes. Arts Coiincil Nl provided core funding for music activity and capital funding to enable us to Cater for our music programme including live events and music Hothouses provide equlpment to be able to do tliis and adapt our spaces. Our delivery would not have been possible without the support of all our core funders such as Deny City and Strabane District Council (who support core building costs and th¢ Annual Foyle Filin Festival), Belfast City Council and Community Relations Council. Nerve C¢ntre was abl¢ to continue to provide car¢¢r opportunities for young people in the s¢r¢en and creativ¢ industries including the BFI Film Academy, BFI Venue Education Fund, Miisic Hothoiise, Bandcainp and CADI programmes. The Reimagine, Remake Project also had another productive year. The project's vision is that through the energy and imagination of young people, combined with digital creativity, it will create a new dynamTC in tli¢ exploration and interpretation of collections held by museums, and create sustainable models for long- term youth engagement. In June 2022 Young People on the Reimagine Remake Replay project launched their aiigmented reality exhibition at the Ulster Museum. Created over a four week period, local 16 25 year olds were challenged to learn new skills such as illustration and animation to produce an entirely new view on our sliared heritag¢. In this exciting exhibition, visitors could uncover illustrations, animations and voice overs that give a fresh coat of digital paint to Mid Antrim Museum's iconic object wall. Tt is with sadness that the Reimagine Remake Replay project came to an end in November 2022. Lastly, our 10 year grant from the Paul Hamlyn Foundation continued to provide ihe core support for tlie organisation providing a stability and programme resource for the organisation to develop new ways of thinking and seed fund projects at a very early stage. John McGoivan Chairperson Page 4
THE NERVE CENTRE LTD (A company limited by guarantee) Aetivity Report 2022123 Northern Ireland Screen continue to be the largest funder of th¢ Nerv¢ Centr¢ supporting creative learning centres in Derry aiid Belfast, exhibition programme including Foyle Film Festival and Film Clubs. Their funding makes a strategic intervention in the film sector ecosystem crossing between industry, education and exhibition. The Nerve Centre delivers our education, training and participation programmes both at the Nerve Centre and also via our network of Creative Learning Centres in Derry and Belfast, During the period with NI Screen funding Nerve Centre continued the highly successful Acadmies in Aniiration, Production Design and Gaming providing career opportunities for 16 - 19 year olds in the screen Nerve Belfast moved into the new location at W5 in Belfast with Nerve Belfast delivering a variety of STEM training prograiiimes during August and Sepiember including sessions in coding and Minecraft. At the end of the year Nerve Belfast hosted a free full-day series of events on Tuesday 21 February 2023 to officially launcli tlieir new training facility Wlthin W5 LIFE witli a symposium on film education. Foyle Film Festival celebrated its 35th year and a decade-long partnership with Brunswick Moviebowl. Audiences were great for the festival with over 25 sold out events. Foyle Film Festival is one of only a handful of intemational film festivals with Oscar affiliation and BAFTA recognition. The festival, which is a flagship project of the Nerve Centre, offers filmmakers, animators and artists a unique platforn] to screen their films, nctwork with industry prof¢ssionals and gain acc¢ss to the intemational market. In February w¢ r¢launched our regular cinema screenings at tlie Nerve Centre committing to every Wednesday and Thursday niglit. In March, we delivered both the Reel Lives Film Festival and Schools Film Week with additional support from Northern Freland Screen. Nerve Centre has also bullt a reputation as an organisation tliat provides opportunities for new bands and artists in Northerii Ireland. We continued to provide many live perfonnances in our venue showcasing local perfomiers and international acts as well. In a major coup Nerve Centre booked Bell Xl for a show at the Derry Jazz Festival in May 2022. The show was the smallest venue on the tour and sold out within minutes. Arts Council Nl provided core funding for music activity and capital funding to enable us to Cater for our music programme including live events and Inusic Hothouses provide equipment to be able to do this and adapt our spaces. Our delivcry would not have been possible without tlie support of all our core funders such as Detry City and Strabane District Council (wlio support core building costs and the Annual Foyle Film Festival), Belfast City Council and Community Relations Council. In addition, our l O year grant from the Paul Hamlyn Foundation continued to provide the core support for the organisation providing a stability and programme resource for the organisation to develop new ways of thinking and seed fund projects at a very early stage. Page 5
THE NERVE CENTRE LTD (A company limited by guarantee) Nerve Centre continued to provide career opportunities for young p¢opl¢ in the screen and crecltive industri¢s including Musi¢ Hothouse, Bandcamp and CADI programmes. We also d¢liver¢d over 40 full-time places during the year and provid¢ equipm¢nt to support online and blended learning. By working in partnership with South West College we were able to offer these full-time places during the year in full time creative media courses. These courses are the backbone of th¢ Nerve Centre, enabling us to develop the indigenous skills necessary to sustain a local music, multimedia and film/video-making industry. BFI increased their support of the Nerve Centre by also providing funding from their BFI venue education fund as well as the BFI Fllm Academy which we have been delivering on an Nl wide basis for l O years. In July 2022 we delivered the Script Development Lab which provided an excellent chance for young filmmakers to network with industry experts and meet possible fuiure collaborators. Participants were guided by three industry mentors and collaborate on the crelltion of a brand-new short film screenplay. A screenplay that might lielp get that all important first professional credit. Throughout the course PRrticipants received exclusive mllsterclasses from leading TV and film indiistry professionals. Adam Patterson and Declan Lawn are aboard this year. This writing duo scripted the critically acclaimed BBC drama The Salisbury Poisonings and the Simon Pegg helmed Cliannel 4 drama The Undeclared War. The Reimagine, Remake Project also had another productive year and came to a close in Noveinber 2022. The proje¢t's vision is that through th¢ ¢n¢rgy and imagination of young people, Combined with digital crelK tivity. it will create a new dynamic in the exploration and interpretation of collection5 held by museums, and crcate sustainable models for long- terni youth engagement. In June 2022 Young People on the Reimagine Remake Replay project launched their augmcntcd reality exhibition at the Ulster Museum. Created over a four week period, local 16 - 25 year olds were cliallenged to learn new skills such as illustration and animation to produce an entirely new view on our sharcd heritage. Reimagine, Remake, Replay was funded through the Heritage Lottery Fund's Kick the Dust Programme. Tlie project was led by the Nerve Centre with partners National Museums Northern Ireland, Northern Ireland Museums Council and Northern Ireland Screen. The centrepiece of this year was our Unboxed project with Oliver Jeffers, Our Place in Space. This large scale sculpture trail launched in Derry in April 22 breaking a world record for the largest number of astronauts in the one place, before moving to Belfast in June, Cambridge In August, Liverpool in October before returning home to Cultra in February 2023. At each location the trail included a full education programme including online resources for schools, an interactive app and animation programme of events, festivals and workshops. Page 6
THE NERVE CENTRE LTD (A company limited by guarantee) Our Place in Space was one of the best perforn]ing of the Unboxed Festival projects with audiences in excess of I million and at the time of writing our Augmented Reality App and Minecraft World lias be¢n downloaded over 3 million times across 150 countries. We also ¢nga8cd over I million at the'4 locations, 156,000 attended events and 28,000 students took part in educational aspects of the project. News on all our Current workshops and Events can be found at:. https:Ilwww.nervecentre.org Directors Responsibilities in Relation to The Financlal Statements The directors are responsible for preparing the Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of tlie state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to: select suitable accounting policies and apply them consistently; observe the methods and principles in the Cliarities SORP 2019 (FRS 102): Inake judgements and estimates that are reasonable and prudent: state wlietlier applicable UK and Accounting Standards have been followed. subject to any material departures disclosed and explained in the financial stateinents. prepare the financial stat¢m¢nts on the going concern basis unless it is inappropriat¢ to pr¢sum¢ that the charity will continue in business, The Board is responsible for maintaining proper accounting records that are suffi¢ient to sliow and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with Companies Act 2006. The Board is also respoiisible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In accordance witli company law, as the company's directors, we ¢¢rtify that: So far as we are aware, there is no relevant audit information of which the company's auditors are unaware; and as tlie directors of tlie company we have taken all steps we ought to have taken in order to make ourselves aware of any relevant audit information and to establish that the charity's auditors are aware of that infonnation, Audltor's- McGroarty Mccafferty & Company are deemed to be reappointed in accordance with Section 487 (2) of the Companies Act 2006. Tliis report is prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. Page 7
THE NERVE CENTRE LTD (A company limited by guarantee) The financial statements are approved and authorised for issue by the Board of Directors on I l December 2023 and signed on it's behalf by; Dlrector Direetor keie Page 8