2024-03-31-accounts - Happy Days EIBF Ltd

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COMPANY REGISTRATION NUMBER: NI613494 CHARITY REGISTRATION NUMBER: NIC104807

Happy Days: EIBF Limited Company Limited by Guarantee Unaudited Financial Statements

31 March 2024

Happy Days: EIBF Limited

Company Limited by Guarantee

Financial Statements

Year ended 31 March 2024

	Page
Trustees' annual report (incorporating the director's report)	1
Independent examiner's report to the trustees	4
Statement of financial activities (including income and
expenditure account)	5
Statement of financial position	6
Notes to the financial statements	8

Happy Days: EIBF Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report)

Year ended 31 March 2024

The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.

Reference and administrative details

Registered charity name Happy Days: EIBF Limited Charity registration number NIC104807 Company registration number NI613494 Principal office and registered Office 1 office 20 Stranmillis Road Belfast BT9 5AA The trustees Mr P Espenhahn (Retired 9 October 2023) Mr K Gebler Ms M Heaney Mr W Morrison Mr O O'Connor (Retired 1 July 2023) Mr P Sternberg Ms O Constant Ms N McGill Ms N O'Regan Independent Examiner Ross Boyd For and on behalf of RBCA Limited Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG

Structure, governance and management

Happy Days : EIBF Limited, which is registered as a charity with the Charity Commission for Northern Ireland, was incorporated as a company limited by guarantee in Northern Ireland on 5 July 2012, registration number NI613494, with the objective of undertaking charitable activities for the benefit of the general public in Fermanagh and arts audiences from across the island of Ireland, Europe and beyond.

In the event of the Company being wound up, members are required to contribute an amount not exceeding £10 each.

The first trustees were appointed by the members. Additional and replacement trustees are appointed by a simple majority resolution of the board or members. Trustees do not have a term of office and are not subject to retirement by rotation or re-election.

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Happy Days: EIBF Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2024

Objectives and activities

The benefits which flow from our purpose include access to and engagement with world-class arts & cultural provision that otherwise would not exist in the area, to advance the education of the public in the understanding, awareness and value of the work of Nobel Prize winner Samuel Beckett and other relevant writers, the ties between literature and land and showcasing the literary heritage and natural beauty of Fermanagh and the surrounding region generating civic pride. These benefits are evidenced through the delivery of activities, numbers of people engaging, feedback from participants, volunteers, audience members & funders, profile in local, regional and national media and the independent evaluation of the festivals.

In encouraging significant number of people to some very rural and/or environmentally sensitive outdoor venues, there is a risk of unintended low-level environmental damage. However, we promote the 'Leave No Trace' ethos and we can show that this harm is outweighed by the benefits.

The charity's beneficiaries are the general public in Fermanagh and arts audiences from across the island of Ireland, Europe and beyond whilst engaging with the local communities in a number of ways from opportunities to volunteer to participation in events and promoting appreciation of the arts in the area.

Achievements and performance

Our aim is to deliver a world-class arts & cultural festival programme celebrating the life and work of Samuel Beckett and other relevant writers for local, regional and international audiences. Activities are held in the island town of Enniskillen and surrounding areas featuring world-class theatre, music, visual art, comedy and talks with events taking place in a number of unusual venues including uninhabited islands, caves, cliff tops, abandoned buildings, churches and many others.

The events highlight the rich literary traditions locally, promote the area and celebrate the rich literary culture of a rural region which has not traditionally been regarded as a centre for literary heritage and artistic excellence.

Local volunteers engage with local and international artists - using landscape as background in this rural region. Working with schools, the charity provides opportunities to engage with cultural creatives and participate in events - helping embed the area's literary heritage in the community, creating world class events which have received excellent reviews from British, Irish and international media and from participating artists and contributing to wellbeing and education. There is also considerable benefit to the local community.

During this year, the charity worked with the Heritage Lottery to create a sustainable heritage - devising a project to encapsulate the ten years of literary heritage and celebrating the contribution of volunteers, local businesses, schools, and indeed the many civic and community organisations which played such a major role in the Happy Days literary experience. The project looked at how to further innovate literary placemaking with a series of workshops and talks in Fermanagh and engaged with stakeholders in the county on collaborating in a variety of ways.

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Happy Days: EIBF Limited

Company Limited by Guarantee

Trustees' Annual Report (Incorporating the Director's Report) (continued)

Year ended 31 March 2024

Financial review

Incoming resources for Happy Days EIBF Limited totalled £72,321 for the year ended 31 March 2024, compared to £81,986 for the year ended 31 March 2023, with outgoing resources of £63,762 (£81,415 in 2023). At 31 March 2024, the company showed a net asset position of £47,302.

Plans for future periods

Building on the festival's literary output and critical success is a key ambition for the trustees with plans in place to ensure wider engagement with both local and international audiences. Using literary heritage as a platform to broaden skillsets in the area, the trustees are working with organisations to deliver an innovative programme in this space. By collaborating with local groups to improve wellbeing, social cohesion, increased participation, accessibility and education, the aim is to develop a sustainable pathway to celebrating literary heritage and the social advantages it brings to an area.

In conjunction with the Heritage Lottery and the Young Foundation, the charity is running an innovative programme to build on skills, knowledge and sense of pride in literary heritage. The aim is also to stimulate and develop an interest in literacy of local pupils and families in the area as well as trying to enhance creativity and development of literature, drama, music and the arts in general in an area where parents and pupils do not have access due to rurality issues. Programmes are in development to build on this and encourage community participation and leadership. The key aims of the programme include building a heritage workforce, developing new and inclusive approaches to literary heritage and developing literary heritage skills across diverse communities especially young people.

Small company provisions

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

The trustees' annual report was approved on 27 December 2024 and signed on behalf of the board of trustees by:

Ms M Heaney Trustee

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Happy Days: EIBF Limited

Company Limited by Guarantee

Independent Examiner's Report to the Trustees of Happy Days: EIBF Limited

Year ended 31 March 2024

I report to the trustees on my examination of the financial statements of Happy Days: EIBF Limited ('the charity') for the year ended 31 March 2024.

Responsibilities and basis of report

As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of Charities Act (Northern Ireland) 2008 (the ‘2008 Act’) and the Companies Act 2006 (‘the 2006 Act’). You are satisfied that the accounts of the company are not required by charity or company law to be audited and have chosen instead to have an independent examination.

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the 2008 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with my examination giving me cause to believe that in any material respect:

accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair' view which is not a matter considered as part of an independent examination; or
the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.

Ross Boyd For and on behalf of RBCA Limited Independent Examiner

Linenhall Exchange 26 Linenhall Street Belfast BT2 8BG

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Happy Days: EIBF Limited

Company Limited by Guarantee

Statement of Financial Activities (including income and expenditure account)

Year ended 31 March 2024

			2024		2023
		Unrestricted	Restricted
		funds	funds	Total funds	Total funds
	Note	£	£	£	£
Income and endowments
Donations and legacies	5	11,000	61,321	72,321	81,986
		`────────`	`────────`	`────────`	`────────`
Total income		11,000	61,321	72,321	81,986
		`════════`	`════════`	`════════`	`════════`
Expenditure
Expenditure on charitable activities	6,7	7,764	55,998	63,762	81,415
		`────────`	`────────`	`────────`	`────────`
Total expenditure		7,764	55,998	63,762	81,415
		`════════`	`════════`	`════════`	`════════`
		`────────`	`────────`	`────────`	`────────`
Net income		3,236	5,323	8,559	571
		`════════`	`════════`	`════════`	`════════`
Transfers between funds		(20,000)	20,000	–	–
		`────────`	`────────`	`────────`	`────────`
Net movement in funds		(16,764)	25,323	8,559	571
Reconciliation of funds
Total funds brought forward		38,743	–	38,743	38,172
		`────────`	`────────`	`────────`	`────────`
Total funds carried forward		21,979	25,323	47,302	38,743
		`════════`	`════════`	`════════`	`════════`

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

The notes on pages 8 to 15 form part of these financial statements.

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Happy Days: EIBF Limited

Company Limited by Guarantee

Statement of Financial Position

31 March 2024

		2024		2023
	Note	£	£	£
Fixed assets
Tangible fixed assets	10		50,000	50,000
Current assets
Debtors	11	21,492		29,303
Cash at bank and in hand		16,863		21,546
		`────────`		`────────`
		38,355		50,849
Creditors: amounts falling due within one year	12	14,753		26,106
		`────────`		`────────`
Net current assets			23,602	24,743
			`────────`	`────────`
Total assets less current liabilities			73,602	74,743
Creditors: amounts falling due after more than
one year	13		(26,300)	(36,000)
			`────────`	`────────`
Net assets			47,302	38,743
			`════════`	`════════`
Funds of the charity
Restricted funds			25,323	–
Unrestricted funds			21,979	38,743
			`────────`	`────────`
Total charity funds	15		47,302	38,743
			`════════`	`════════`

For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

The statement of financial position continues on the following page.

The notes on pages 8 to 15 form part of these financial statements.

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Happy Days: EIBF Limited

Company Limited by Guarantee

Statement of Financial Position (continued)

31 March 2024

These financial statements were approved by the board of trustees and authorised for issue on 27 December 2024, and are signed on behalf of the board by:

Ms M Heaney Trustee

The notes on pages 8 to 15 form part of these financial statements.

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Happy Days: EIBF Limited

Company Limited by Guarantee

Notes to the Financial Statements

Year ended 31 March 2024

1. General information

The charity is a public benefit entity and a private company limited by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Office 1, 20 Stranmillis Road, Belfast, BT9 5AA.

2. Statement of compliance

These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland', the 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) (Charities SORP (FRS 102)) and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expenditure.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

There are no material uncertainties about the charity's ability to continue.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Fund accounting

Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.

Designated funds are unrestricted funds earmarked by the trustees for particular future project or commitment.

Restricted funds are subjected to restrictions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of two sub-classes: restricted income funds or endowment funds.

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Happy Days: EIBF Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

Incoming resources

All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:

income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
legacy income is recognised when receipt is probable and entitlement is established.
income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.

Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:

expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
other expenditure includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charitable activities.

All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned between the activities they contribute to on a reasonable, justifiable and consistent basis.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

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Happy Days: EIBF Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

Tangible assets (continued)

An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other recognised gains and losses, unless it reverses a charge for impairment that has previously been recognised as expenditure within the statement of financial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recognised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement of financial activities.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units.

Financial instruments

A financial asset or a financial liability is recognised only when the charity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs.

Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.

Debt instruments are subsequently measured at amortised cost.

Where investments in shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in income and expenditure. All other such investments are subsequently measured at cost less impairment.

Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

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Happy Days: EIBF Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

3. Accounting policies (continued)

Financial instruments (continued)

Other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised under the appropriate heading in the statement of financial activities in which the initial gain was recognised.

For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics.

Any reversals of impairment are recognised 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 impairment not previously been recognised.

4. Limited by guarantee

The company is limited by guarantee and has no authorised or issued share capital. The company has charitable status accepted by the Charity Commission for Northern Ireland under reference NIC104807

5. Donations and legacies

	Unrestricted	Restricted	Total Funds
	Funds	Funds	2024
	£	£	£
Donations
Private Donations	–	–	–
Other donations	–	–	–
Arts Over Borders	11,000	–	11,000
Grants
Fermanagh & Omagh District Council	–	–	–
Tourism NI	–	–	–
National Heritage	–	61,321	61,321
Enniskillen Bid Ltd	–	–	–
TS Eliot Foundation	–	–	–
Creative Foundation	–	–	–
Department of Culture (ROI)	–	–	–
Other donations and legacies
Box office income	–	–	–
	`────────`	`────────`	`────────`
	11,000	61,321	72,321
	`════════`	`════════`	`════════`

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Happy Days: EIBF Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

5. Donations and legacies (continued)

		Unrestricted	Restricted	Total Funds
		Funds	Funds	2023
		£	£	£
	Donations
	Private Donations	19,294	–	19,294
	Other donations	5,300	–	5,300
	Arts Over Borders	–	–	–
	Grants
	Fermanagh & Omagh District Council	–	10,000	10,000
	Tourism NI	–	9,000	9,000
	National Heritage	–	–	–
	Enniskillen Bid Ltd	–	2,000	2,000
	TS Eliot Foundation	–	25,000	25,000
	Creative Foundation	–	(8,500)	(8,500)
	Department of Culture (ROI)	–	9,552	9,552
	Other donations and legacies
	Box office income	–	10,340	10,340
		`────────`	`────────`	`────────`
		24,594	57,392	81,986
		`════════`	`════════`	`════════`
6.	Expenditure on charitable activities by fund type
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2024
		£	£	£
	Participant costs	–	889	889
	Production and venue costs	–	23,731	23,731
	Marketing and promotion costs	–	3,016	3,016
	Administration costs	7,764	28,362	36,126
		`───────`	`────────`	`────────`
		7,764	55,998	63,762
		`═══════`	`════════`	`════════`
		Unrestricted	Restricted	Total Funds
		Funds	Funds	2023
		£	£	£
	Participant costs	–	27,327	27,327
	Production and venue costs	–	12,309	12,309
	Marketing and promotion costs	–	4,525	4,525
	Administration costs	–	37,254	37,254
		`────`	`────────`	`────────`
		–	81,415	81,415
		`════`	`════════`	`════════`

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Happy Days: EIBF Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

7. Expenditure on charitable activities by activity type

	Activities
	undertaken	Total funds	Total fund
	directly	2024	2023
	£	£	£
Participant costs	889	889	27,327
Production and venue costs	23,731	23,731	12,309
Marketing and promotion costs	3,016	3,016	4,525
Administration costs	36,126	36,126	37,254
	`────────`	`────────`	`────────`
	63,762	63,762	81,415
	`════════`	`════════`	`════════`
Independent examination fees
		2024	2023
		£	£
Fees payable to the independent examiner for:
Independent examination of the financial statements		3,100	3,000
		`═══════`	`═══════`

8. Independent examination fees

9. Trustee remuneration and expenses

No trustees received remuneration or other benefits through employment with the charity.

10. Tangible fixed assets

	Gifted Asset	Total
	£	£
Cost
At 1 April 2023 and 31 March 2024	50,000	50,000
	`════════`	`════════`
Depreciation
At 1 April 2023 and 31 March 2024	–	–
	`════════`	`════════`
Carrying amount
At 31 March 2024	50,000	50,000
	`════════`	`════════`
At 31 March 2023	50,000	50,000
	`════════`	`════════`
Debtors
	2024	2023
	£	£
Trade debtors	11,000	20,000
Gift aid	9,300	9,300
Other debtors	1,192	3
	`────────`	`────────`
	21,492	29,303
	`════════`	`════════`

11. Debtors

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Happy Days: EIBF Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

12. Creditors: amounts falling due within one year

		2024	2023
		£	£
	Bank loans and overdrafts	9,729	9,766
	Trade creditors	5,024	4,095
	Accruals and deferred income	–	12,245
		`────────`	`────────`
		14,753	26,106
		`════════`	`════════`
13.	Creditors: amounts falling due after more than one year
		2024	2023
		£	£
	Bank loans and overdrafts	26,300	36,000
		`════════`	`════════`
14.	Deferred income
		2024	2023
		£	£
	Amount deferred in year	–	12,245
		`════`	`════════`

15. Analysis of charitable funds

Unrestricted funds

Unrestricted funds
		At 1 April				At 31 Mar
		2023	Income	Expenditure	Transfers	2024
		£	£	£	£	£
Unrestricted funds		38,743	11,000	(7,764)	(20,000)	21,979
		`════════`	`════════`	`═══════`	`════════`	`════════`
		At				At
	1	April 2022	Income	Expenditure	Transfers	31 Mar 2023
		£	£	£	£	£
Unrestricted funds		38,172	24,594	–	(24,023)	38,743
		`════════`	`════════`	`════`	`════════`	`════════`

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Happy Days: EIBF Limited

Company Limited by Guarantee

Notes to the Financial Statements (continued)

Year ended 31 March 2024

15. Analysis of charitable funds (continued)

Restricted funds

Restricted funds
	At				At
	1 April 2023	Income	Expenditure	Transfers	31 Mar 2024
	£	£	£	£	£
Enniskillen Festival	–	–	(20,000)	20,000	–
National Heritage Fund	–	61,321	(35,998)	–	25,323
	`────`	`────────`	`────────`	`────────`	`────────`
	–	61,321	(55,998)	20,000	25,323
	`════`	`════════`	`════════`	`════════`	`════════`
	At				At
	1 April 2022	Income	Expenditure	Transfers	31 Mar 2023
	£	£	£	£	£
Enniskillen Festival	–	57,392	(81,415)	24,023	–
National Heritage Fund	–	–	–	–	–
	`────`	`────────`	`────────`	`────────`	`────`
	–	57,392	(81,415)	24,023	–
	`════`	`════════`	`════════`	`════════`	`════`

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