Company Registration No. N1603331 Charity Registration No. NIC104596 The Van Morrison Official Belfast Rhythjn and Blues Foundation (A company limited by guarantee) Directors, Report and Financial Statements Year Ended 30 June 2024
The Vall Morrison Official Belfast Rhythm and Blues Foundation Contents Page Company information Director's report tndependent examiner's report Statement of financial activities Balance sheet Notes to the financial statements 10-13 The folloiving pages do not form part of the statutory fmancial statements Detailed income and expenditure account
The Vall Morrison Official Belfast Rhythm and Blues Foundation Company information Directors Richard WaTing Shauna Morrison Company number N1603331 Charity number NIC104596 Registered office 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 Morrison Official Belfast Rh)tthm and Blues Foundation Directors, report for the year ended 30 June 2024 The Directors present their report together with the unaudited financial statements for the year ended 30 June 2024. 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 treland 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 (substitstion of sums) Order (NI) 2015 and the Charities (accounts and report) Regulations (Nl) 2015. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Van MolSOn Official Belfast Rhythm and Blues Foundation, is a company lirnited 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 Northern Ireland Charity Commission on 8 March 2016 under Charity Number NIC 104596. Board of Directors The Board of Directors administer the company. The board oversee the running of the charity. Principal aCtIty The Van Morrison Official Belfast Rhythm and Blues Foundation organises and promotes selected perforn]ances and festivals from which Van Morrison has detern]ined that prOceedslsu1UseS will be contributed to the Trust. The objective of the company is: Primarily to support musicians in the UK and Ireland who are suffering financial hardship. In addition, 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 Morrison's participation to raise funds througb concerts to cover its operating costs. Trustees of the cbarity The Directors of the charitable company are its trustees for purposes of charity law and will be referred to as Directors throughout these financial 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 Lvlorrison Utticial Lleltast Rhythm and Blues Foundation Directors, report for the year ended 30 June 2024 A Director may not act as a Director unless he/she: l) is a Member, and 2) has signed a written declaration of willineSS 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 banknlptcy 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 O)ut only if at least two Directors will remain in office). Directors, proceedings A quorum 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 cornmunicate with all the other participants but at least one meeting in each year must be held in person. The Chairyerson 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 determined 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 BENEFrr 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 througb 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 direcdy with the backstreets of Belfast and the working class world. Educating the general public in Northem Ireland in the Celtic music tradition. The assistance to local Northern Irish musicians who are in financial difficulty. Th¢ ben¢fits identified are demonstrated by: Ticket sales for festivals and concerts. Feedback from musicians who benefited from the delivery of tl]is financial assistance. PLANS FOR THE FtrruRE The organisation will continue to meet its objectives by raising future funds through further perforniances being made by Van Morrison. Page 3
The Van Morrison Official Belfast Rhythm and Blues Foundation Directors, report for the year ended 30 June 2024 FINANCIAL REVIEW We aim to present a balanced and comprehensive review of the development and perfomiance of our charity during the year &lld its position at the year end. OLW 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 unr¢stri¢t¢d funds of £(927). RESERVES POLICY The unrestricted reserves of the company at 30 June 2024 amounted to £39,915, 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 temi plan to build reserves to a level sufficient to rneet 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 estimates that are reasonable and prLent. 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 fllmncial statements. The Directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also r¢sponsible 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 Chitable company's accountant is unaware. and The Directors have taken all steps that they ought to have taken to make themselves aware of any relevant inforn]ation and to establish that the accountant is aware of that infomiation. Page 4
The Van MoTrison Offlemal Belfast Rhythm and Blues Fowidation Dtrectors, report for the year ended 30 Jwie 2024 SPECIAL PROVISIONS RELATING TO SMALL COMPIINIES This report has beett prwed taking advautsgc ofthe small cothparri¢s exemption of Section 415A of the Companies Act 2006. On behalf of the board LdUA Rietsard Warillg Company Director Date:4 23 April 2025 Page 5
The Van Morrison Official Belfast Rhythm and Blues Foundation Independent examiner's report to the Directors of The Van Morrison Official Belfast Rbythm and Blues Foundation I report on the accounts of the company for the year ended 30 June 2024 which are set out on pages 7 to 13. Respective responsibilities of Directors and examiner As the charity Directors (and also the Directors of the company for the PUTposes 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 examination, 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 attention. Basis of independent examiner's report I have examined your charity accounts as rquired under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions Ven by the Charity Commission for Northern Ireland under section 65(9}(b) of the Charities 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 kq)t 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 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 4. That there is further inforn]ation 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 Commission for Northern Ireland, I have found no matters that require drawing to your attention. Jones Petsr Chartered Accountants Hughes House 6 Church Street Banbridge BT32 4AA 23 April 2025 Page 6
The Van Morrison Official Belfast Rhythm and Blues Foundation Statement of fmancial activities (Incorporating income and expenditure account) for the period ended 30 June 2024 2024 2024 Note Restricted Unrestricted Fund Funds 2024 Total Funds 2023 Total Funds Incoming resources Charitable activities Event income Donations Perforniance royalty Other income Donation Interest received 568 568 194 Total incoming resources 568 568 194 Resources expended Charitable activities Administrative costs Total resources expended Net {outgoing)lincoming resources 927 Total funds brought forward £40 842 £40 Total funds carried forward £39915 £39 Page 7
The Van Morrison Official Belfast Rhythm and Blues Foundation Statement of fmancial activities (continued) ancorporating income and expenditure account) for the period ended 30 June 2024 Incoming resources and resources expended All incoming resources and resources expended disclosed as unrestricted 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 basis. Companies Act 2006 In accordance with the requirements of the Companies Act 2006 the above Statement of Financial Activity incorporates an Income and ExpdItUre Account. The notes on pages l O to 13 forni part of these fmancial statements. Page 8
The Vall Morrlson Official Belfast Rhythm and Blues Foundatlon Balanc¢ ¥heet as at 30 June 2024 Note 2024 2023 Currellt &88ets Dd)tors Cash at bank and in Iwid 42,815 43.712 Creditors: Amounts falling due within one y¢aT Totsl assets less current babitiljey R¢seTves 10 For the year ending 30 June 2024 the company was entided to cxemptiott from audit under &ection 477 of the Companies A¢t 2006 relating to small compaDieg. DirectoTr' responsibilities: The members have not required the company to obtain an audit of its a¢couth for th¢ yeat in qu¢slion in a¢cordattce with gecti(rn 476. The Directors acknowledge theix responsibilities for Complying with the r¢quiremellts. of the Act with respect to accountingre¢otds and thepreparati.on 0£aounL8. These account8 havc been prepared in awordance with the provisions applicable to compaui¢s' subjert to the small compallie8' regim¢. The fjnanGiat statenwts were approved bythe Board on 23 April 2025 and aled oo its behalfby.. Richard Wating Dlrector Compally Registratiott No. M603331 The notss on pages 10 to 13 forni part oftbese financial statemettts. Page 9
The Van Morrison Official Belfast Rhythm and Blues Foundation Notes to the fmancial statements for the year ended 30 June 2024 Nature of the Company The Van Morrison Official Belfast Rhythm 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 inforniation on page l of these financial statements. The nature of the charity's operations and principal activities is the advancement, appreciates, promotion, encouragement and preservation of rhytbm and blues music and heritage in Northern Ireland. Basis of Preparation The charity constitutes a public benefit entity as defined 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 Rq)ublic 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 financial 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 fmancial 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 sigt]ificant judgements have had to be made by management in preparing these financial statements. 2.2 Fulld Accounting The general reserves of the company are made up of restiicted and unrestiicted reserves, which the company may use for its pury)ose at its discretion in fLWtherance of the general objectives of the charity. Restiicted 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 fLmds are set out in the notes to the financial statements. 2.3 Incoming 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 Vall Morrisoll Official Belfast Rhythm and Blues Foundation Notes to the financial statements for the year ended 30 June 2024 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 agwgate all the costs relating to that category. Charitable activities expenditure comprises thos¢ costs Incurr by the charity in th¢ delivery of its activities and services to beneficiaries. Support costs have not been attributed to specific charitable activities as it is not considered meaningful to allocate the support costs across each activity. Irrecoverable VAT is charged to the Statement of Financial Activities, or capitalised as p&rt of the cost of the related asset, where appropriate. 2.5 Taxation The company is a registered charity and is not liable to tax on surpluses generated or investment income derived from activities within the scope of the charitable exemptions. 2.6 Flnancial Instruments A financial asset or a financial liability is recognised only when the company becomes a paty to the contractual provisions of the instrument. Basic financial instruments 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 instrLellt. Debt instruments are subsequently measured at amortised cost. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impaimient at the end of each reporting date. If there is objective evidence of impairnient, an impaimient loss is recognised in profit or loss immediately. For all equity instrLllnents regardless of significance, and other financial assets that are individually significant, these are assessed individually for impainnent. Other financial assets or either assessed individually or wuped on the basis of similar credit risk characteristics. Any reversals of impairnient are reCOlsed 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 carrying amount would have been had the impairnient not previously been recognised. Employees The average number of pSOn8 mploycd by the company during the year, amounted to: 2024 2023 Page 11
The Van Morrison Official Be]fast Rhythm and Blues Foundation Notes to the fmanciaI statements for the year eJAded 30 June 2024 Incoming Resources Restricted Unrestricted 2024 Total 2023 Total funds funds funds funds (a) Donations: Sundry Donations (b) Activities to further the Charity's objectives Event Income (c) Other incoming resources Bank interest received 568 568 194 £194 Charitable activities - Expenses 2024 2023 Donations Other costs Debtors 2024 2023 Prepayments VAT receivable Creditors: amounts falling due within one year 2024 2023 Trade creditors Accruals Page 12
The Van Morrison Official Belfast Rhythm and Blues Foundation Notes to the financial statements for the year ended 30 June 2024 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 Taxation 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 Unrestricted reserve reserve Total reserves Balance at l July 2023 Net incoming/(outgoing) resources for the year Balance at 30 June 2024 40,842 40,842 927 15 £3 The unrestricted reserve represents the free funds of the charity wlllch are not designated for particular purposes. 11. Company Limited by Guarantee The Van Morrison Official Belfast Rhts 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 commitments as at 30 June 2024. 14. Capital commitments The company had no capital commitments as at 30 June 2024. 15. Control The directors control the company. Page 13