Company Registration No. Nt603331 Charity Registration No. NIC104596 The Van Morrison Official Be]fast Rhythm and Blues Foundation (A eompany limited by guarantee) Directors, Report and Financial Statements Year Ended 30 June 2023
The Van Morrison Official Belfast Rhythm and Blues Foundation Contents Page Company inforniation Director's report Independent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 10-13
The Van Morrison Official Belfast Rhythm and Blues Foundation Company inforniation Directors Richard Waring Shauna Morrison Company number N1603331 Charity number NIC104596 Registered olTice 33B Massey Avenue Belfast Northern Ireland BT4 2JT Independent accountants Jones Peters Chartered Accountants Hughes House 6 Church Street Banbridge BT32 4AA Bankers Danske Bank Donegall Square West Belfast BTI 6JS Page I
The Van Morrlson Official Belfast Rhythm and Blues Foundation Direetors, report for the year ended 30 June 2023 The Directors present their report together with the unaudited financial statements for the year ended 30 June 2023. When preparing their accounts the Directors have adopted the provisions of the Statement of Recommended Practice (SORP) "Accounting and Reporting by Charities" (FRS 102) in accordance with the Financial Reporting Standard applicable in the UK and Ireland in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charities governing document, the Charities Act (NI) 2022, the Charities Act 2008 (substitution of sums) Order (ND 2015 and the Charities (accounts and report) Regulations (NI) 2015. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Van Morrison Official Belfast Rhythm and Blues Foundation, is a company limited by guarantee governed by its Memorandum and Articles of Association. It has been granted charitable status by HM Revenue & Customs, under reference XTI 77. The Van Morrison Official Belfast Rhythm and Blues Foundation, was officially registered with the Nortbern Ireland Charity Commission on 8 March 2016 under Cl]arity Number NIC 104596. Board of Directors The Board of Directors administer the company. The board oversee the running of the charity. Prineipal activity The Van Morrison Official Belfast Rhythm and Blues Foundation organises and promotes selected perforniances and festivals from which Van Morrison has detern]ined that proceeds/surpluses will be contributed to the Trust. The objective of the company is: Primarily to support musicians in the UK and Ireland who are suffering fu1ClaI hardship. In additio the company aims to encourage the advancement, appreciation, promotion and presentation of music and related heritage in the UK and Ireland. The Directors have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit, running a charity (PB2). The company relies on Van MOlson'S participation to raise funds through concerts to cover its operating costs. Trnstees of the charity The Directors of the charitable company are its trustees for purposes of charity law and will be referred to as Directors throughout these fncIal statements. The Directors who have served during the year and since the year end were as follows:_ Richard Waring Shauna Morrison Page 2
'I'he Van Mornson UtTicial Bellast Rhythm and Blues Foundation Directors, report for the year ended 30 June 2023 A Director may not act as a Director unless he/she: l) is a Member. and 2) has signed a written declaration of willingness to act as a charity Director of the Charity. A Director's terni of office as such automatically terniinates if he/she: l) is disqualified under the Charities Act from acting as a Charity Director. 2) is incapable, whether mentally or physically, of managing his/her own affairs. 3) a bankruptcy order is made against that person. 4) a composition is made with that person's creditors generally in satisfaction of that person's debts. and 5) resigns by written notice to the Directors (but only if at least Iwo Directors will remain in office). Directors, proceedings A quorurn at a meeting of the Directors is two Directors. A meeting of the Directors may be held either in person or by suitable electronic means agreed by the Directors in which all participants may communicate with all the other participants but at least one meeting in each year must be held in person. The Chairperson or (if the Chairperson is unable or unwilling to do so) some other Director chosen by the Directors present presides at each meeting. Any issue may be deterniined by a simple majority of the votes cast at a meeting, but a resolution in writing agreed by all the Directors (other than any Confiicted Director who has not been authorised to vote) is as valid as a resolution passed at a meeting. For this purpose the resolution may be contained in more than one document. Every Director has one vote on each issue. A procedural defect of which the Directors are unaware at the time does not invalidate decisions taken at a meeting. PUBLIC BENEFIT STATEMENT The direct benefits which flow from the company's purpose are as follows: The bonding of people together through the integration of people and culture through art and music for the benefit of the general public in Northern Ireland. The creation of opportunities to the general public in Northern Ireland to be further educated in the Northern Irish culture as the song lyric content of many of Van Morrison's songs deal directly with the backstreets of Belfast and the working class world. Educating the general public in Northern Ireland in the Celtic music tradition. The assistance to local Northern Irish M1ClanS who are in financial difficulty. The benefits identified are demonstrated by: Ticket sales for festivals and concerts. Feedback from musicians who benefited from the delivery of this financial assistance. PLANS FOR THE FUTURE The organisation will continue to meet its objectives by raising future funds through further perfomiances being made by Van Morrison. Page 3
The Van Morrison Official Belfast Rhythm and Blues Foundation Dmrectors, report for the year ended 30 June 2023 FINANCIAL REVIEW We aim to present a balanced and comprehensive review of the development and perfornmnce of our charity during the year and its position at the year end. Our review is consistent with the size and non-complex nature of our charity and is written in the context of the risks and uncertainties we face. The results for the year are set out in the Statement of Financial Activities on page 7 and in the related notes. Overall, the company had a net deficit in unrestricted fijnds of £(1,3 80). RESERVES POLICY The unrestricted reserves of the company at 30 June 2023 amounted to £40,842, there are no restricted funds. The board are satisfied that this level of reserves is sufficient for its immediate needs and it would be our long terni plan to build reserves to a level sufficient to meet the organisation, s objectives and cover overheads for a 12 month period. STATEMENT OF DIRECTORS, RESPONSIBILITIES The Directors are responsible for preparing the Directors, Report and the financial statements in accordance with applicable law and regulations. Company law requires the Directors to prepare financial statements for each financial year. Under the law the Directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the Directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the Directors are required to: Select suitable accounting policies and then apply them consistently. Observe the methods and principals in the Charities SORP 2019 (FRS 102). Make judgements and accounting estinteS that are re&sonable and prudent. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business" State whether applicable UK Accounting Standards have been followed subject to any material departures disclosed and explained in the financial statements. The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the cornpany's transactions and disclose with reasonable accuracy at any time the fmancial position of the charitable company and enable them to ensure that the fmancial statements comply with th¢ Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the Directors are aware: There is no relevant inforniation of which the charitable company's accountant is unawar¢" and The Directors have taken all steps that they ought to have taken to make themselves aware of any relevant infornmtion and to establish that the accountant is aware of that inforn]ation. Page 4
The Van Morrison Official Be]fart Rhythm thd Blues Foumdation Direetors, report for the year endqd 30 June 2023 SPKCIAL PROVISIONS RELATING TO SMALL COMPAMES This rGEx)rt has be¢n prepared taking advantsgc of the small companies exemption of Section 415A of the Cfjmpanies Art 2006, On behalf of the board Richa Company Director Date:_ 19 April 21124 Page 5
The Van Morrison Official Belfast Rhythm and Blues Foundation Independent examijjer's report to the Directors of The Van Morrison Official Belfast Rhythm and Blues Foundation I report on the accounts of the company for the year ended 30 June 2023 which are set out on pages 7 to 13. Respective responsibilities of Directors and examiner As the clwity Directors (and also the Directors of the company for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the charity is not subject to audit under company law, and is eligible for independent exarninat1o it is my responsibility to: examine the accounts under section 65 of the Charities Act (Northern Ireland) 2022. follow the procedures laid down in the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. and state whether particular matters have come to my attentio Basis of independent examiner's report I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the ChitIeS Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity Directors concerning any such matters. My role is to state whether any material matters have come to my attention giving me cause to believe: l. That accounting records were not kept in accordance with section 386 of the Companies Act 2006 2. That the accounts do not accord with those accounting records 3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland 4. That there is further inforniation needed for a Proper understanding of the accounts to be reached. Independent examiner's statement I have completed my examination and have no concerns in respect of the matters (l) to (4) listed above and, in connection with following the Directions of the Charity Con]rnission for Northem IreIand, I have found no matters that require drawing to your attention. Jones Peters Chartered Aecountants Hughes House Banbridge BT32 4AA 19 April 2024 Page 6
The Van Morrison Official Belfast Rhythm and Blues Foundation Statement of financial activities (Incorporating Aneome and expenditure account) for the period ended 30 June 2023 2023 2023 Note Restricted Unrestricted Fund Funds 2023 Total Funds 2022 Total Funds Incoming resources Charitable activities Event income Donations Perforniance royalty Other income Donation 2,859 Interest received 194 194 Total incoming resources 194 194 2,867 Resources expended Charitable activities Administrative costs Total resources expended Net illeomingl(outgoing) resourees Total funds brought forward 40 Total funds carried forward 40 Page 7
The Van Morrison OITicial Belfast Rhythm and Blues Foundation Statement of financial activities (continued) (Incorporating income and expenditure account) for the period ended 30 June 2023 Ineoming resources and resources expended All incoming resources and resources expended disclosed as unrestiicted have not been designated for any specific purpose. Continuing operations The Statement of Financial Activities has been prepared on the basis that all operations are continuing operations. Total recognised gains and losses There are no recognised gains and losses other than those passing through the Statement of Financial Activities. Historical cost The results as disclosed in the statement of financial activities and the deficit for the year have been presented on an historical cost b&sis. Companies Act 2006 In accordance with the requirements of the Companies Act 2006 the above Statement of Financial Activity inCoOrateS an Income and Expenditure Account. The notes on pages 10 to 13 forni part of these fmancial ststements. Page 8
The Van Morrison Offi¢iAI Belfast Rhythm and Blues Foulldatioll Balallee sheet as at 30 June 2023 Not¢ 2023 2022 Current assets Debtors Cash at bank and in hand 43.712 44982 CredAtDrs: Amounts falling du¢ within one year Total ass¢ts less eurrent liabilitles Reserves (leneral reserves 10 40 For the year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the ComFdDies Act 2006 relating to Small coxnpanie8. Directors, resporJsibi]ities: The members Iwve not required the company to obtain an audit of its a(KOmts for the ytrar ill question in accord with section 476. The DirectoTr acknowledge their Trsponsibilitses for complying with the r¢qViTrntS of the Act with respe£t to accounting ordS and the preparation of accounts. These accounts have been prepared in aecothnce with the provisions applicable to conwames, subject to The financial statements were approved by the Board on 19 April 2024 and Sled on its behalf by:. Richard Waring Director Company Rwstratioll No. Tr41603331 Thc notes on pages 10 to 13 fomi part of thesc financial statements, Page 9
The Van Morrison Officlal Belfast Rhythm and Blues Foundation Notes to the fmancial statements for the year ended 30 June 2023 Nature of the Company The Van Morrison Official Belfast Rhirtbm and Blues Foundation is a Limited by Guarantee Company in Northern Ireland. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity infornmtion on page l of these financial staternents. The nature of the charity's operations and principal activities is the advancement, appreciates, promotion, encouragement and preservation of rhythm and blues music and heritage in Northern Ireland. Basis of Preparation The charity constitutes a public benefit entity as defmed by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on October 2019 (as updated through several Update Bulletins), the NI Charities Act 2022, The Companies Act 2006 and UK Generally Accepted Practice as it applies from l January 2015. The charity does not include a cash flow statement on the grounds that it is applying FRS 102 Section IA. The fu1ClaI statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £000. The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. The charity adopted SORP (FRS 102) in the current year and there are no conversion or transition issues in their preparation. 2.1 Judgements and key sources of uncertainty No significant judgements have had to be made by management in preparing these fmancial statements. 2.2 Fund Accounting The general reserves of the company are made up of restricted and unrestricted reserves, which the company may use for its purpose at its discretion in furtherance of the general objectives of the charity. Restricted and designated funds of the company are those on the use of which the donor has imposed restrictions or the Board has applied for a particular purpose. The aims and uses of such funds are set out in the notes to the financial statements. 2.3 Ineoming Resources Charitable trading activities Income from specific activities is included in the financial statements in the period in which the activity took place. Page 10
The Van Morrison Offieial Belfast Rhythm and Blues Foundation Notes to the fmancial statements for the year ended 30 June 2023 2.4 Resources Expended All expenditure is accounted for on an accruals basis, inclusive of VAT which cannot be recovered, and has been classified under headings that aggregate all the costs relating to that category. Charitable activities expenditure comprises those costs incurred by the charity in the delivery of its activities and services to beneficiaries. Support costs have not been attributed to specific charitable activities as it is not considered meaningfill to allocate the support costs across each activity. Irrecoverable VAT is charged to the Statement of Financial Activities. or capitalised as part of the cost of the related asseL where appropriate. 2.5 Taxation The company is a registered charity and is not liable to tsx on suryluses generated or investsnent income derived from activities within the scope of the charitable exemptions. 2.6 Financkal Instruments A fu1claI asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instnllnents are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impainnent at the end of each reporting date. If there is objective evidence of impairnienL an impainnent loss is recognised in profit or loss immediately. For all equity instnllnents regardless of significance, and other financial assets that are individually significant, these are assessed individually for impaimient. Other fmancial &ssets or either assessed individually or grouped on the basis of similar credit risk chardcteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the canying amount would have been had the impairnient not previously been recognised. Employees The average number of persons employed by the company during the year, amounted to: 2023 2022 Page 11
The Van Morrison Offielal Belfast Rhythm and Blues Foundation Notes to the financial statements for the year ended 30 June 2023 Incoming Resources Restricted Unrestricted 2023 Total 2022 Total funds funds funds funds (a) Donations: Sundry Donations (b) Activities to further the Charity's objeetives Event Income (c) Other incoming resources Bank interest received 194 194 Charitable activities - Expenses 2023 2022 Donations Other costs Debtors 2023 2022 Prepayments VAT receivable Creditors: amounts falling due within one year 2023 2022 Trade creditors ACclS Page 12
The Van Morrison Official Belfast Rhythm and Blues Foundation Notes to the financial statemellts for the year ended 30 June 2023 Taxation The charity is exempt from tax on income and gains fully within section 505 of the Taxes Act 1988 or Section 252 of the TatIOn of Charitable Gains Act 1992 to the extent that these are applied to its charitable objectives. Related Party Transactions No related paty transactions were carried out during the year. 10. Statement of movements on reserves Restricted Unrestrieted reserve reserve Total reserves Balance at l July 2022 Net incoming/(outgoing) resources for the year Balance at 30 June 2023 42,222 42,222 The unrestricted reserve represents the free funds of the charity which are not designated for particular purposes. I l. Company Limited by Guarantee The Van Morrison Official Belfast Rhythm and Blues Foundation is a company limited by guarantee and accordingly does not have a share capital. 12. Contingent liabilities There are no contingent liabilities at the Balance Sheet date. 13. Financial commitments The company had no financial committnents as at 30 June 2023. 14. Capital commitments The company had no capital con]mitments as at 30 June 2023. 15. Control The directors control the company. Page 13