The Van Morrison Official Belfast Rhythm and Blues Foundatioll 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 Ireland in preparing the annual report and financial statements of the charity. The financial statements have been prepared in accordanc¢ 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 (NI) 2015 and the Charities (accounts and report) Regulations (NI) 2015. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The Van Morrison Official Belfast Rhfft 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 xr177. 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 activity The Van Morrison Official Belfast Rhythm and Blues Foundation organises and promotes selected perforniances and festivals from which Van Morrison has deterniined that proceedslsurpluses 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. 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 fLmds through concerts to cover its operating costs. Trustees 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 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 Morrison Vtficial 15elt.ast Rhythm and Blues Foulldation Directors, report for the year ellded 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 willingness to act as a charity Director of the Charity. A Director's tenn of office as such automatically ternlinates if helshe: l) is disqualified under the Charities Act from acting as a Charity Director. 2) is incapable, whether mentally or physically, of rnanang hisnier own affairs. 3) a banl(rnptcy 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 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 communicate with all the other participants but at least one meeting in each year must be held in person. The Chairy)erson 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 Conllicted 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 musicians 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 perforn]ances being made by Van MOlson. Page 3
The Van Morrison oificial 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 perfonnance 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 funds of £(927). RESERVES POLICY The unrestricted reserves of the company at 30 June 2024 amounted to £39,915, there are no restricted fLmds. 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 estimates that are reasonable 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 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 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 infonnation of which the charitable 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 inforniation and to establish that the accountant is aware of that infonnation. Page 4
The Van Morrison oifieial B¢lfast Rhytlun and Blues Fowidation Directors, report for the year ellded 30 June 2024 spEcL PROVloNs RLLATINC TO SMALL COMPANIES This report has been prepated taking advantage of the Small companies exemption of Section 415A of the Compallies Act 20Q6. Ollbehalf of the board Richard Waring Company Dtreetor Date=. 23 Aprll 2025 Page 5