BELFAST SUMMER SCHOOL OF TRADITIONAL MUSIC
FINANCIAL STATEMEI NTS
FOR THE YEAR ENDED 31ST MARCH 2024
CHARITY REGISTRATION NUMBER NIC 104823
O'HARA SHEARER
CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS
547 FALLS ROAD
BELFAST
BTII 9AB

BELFAST SUMMER SCHOOL OF TRADITIONAL MUSIC
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
CONTENTS
Page
Meinbers and Professional Advisoi's
Ti'ustees Annual Repoit
(inclLiding tlie Statement of Triistees Responsibilities
in respect of financial statements)
Report of tlie Independent ALiditor to the Ti'ustees,
Accounting Policies
Statement of Financial Activities (incoi'poi'ating tlie income and expenditui'e account)
10
Balance Sheet
Statement of Cash Flows
12
Notes to the Financial Statements
13-18

BELFAST SUMMER SCHOOL OF TRADITIONAL MUSIC
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2024
OFFICERS AND OTHER INFORMATION
Trustees
Ray Morgan
Christine Dowling
lan Biii'i'ows
Biendan Morgan
Andy McGregor
Secretary
Goi'etti O'connor
Charity Commission Northern Ireland
NIC104823
Principal address
173 University Street
Belfast
Co Antrim
BT7 IHR
Statutory Auditors
O'Hara She￿.er
Chartered Accountants
and Statutory Aiiditors
547 Falls Road
Belfast, BTI19AB
Banlcers
Banlc of Ireland
202 Andersonstown Road
Belfast
Co Antrim
BTI19EB
Page I

TRI'Si'f.ES.
I,-011-I'IIL I'E,IR LNDED 31bT Ill..IIICII 21124
I'riJ5tCL%' .4niJuiil RL'lJOrt
Reioinffieiided PnLIILe Jiid FRS 10?
I'ru¥tef¥
TIIL IruslLes ii,IIo bervea diiiiiig lh¢ P¢Tiud arL
l¢in Lliim)i&%
BrLiidaii Nli)QT¢in
iidv ￿lLGrlJ￿>or
GDILitti O'coiinor
Sirurlurt. Goi'L'I'lli)uce L IliinAgenient
April ?Ul 6 '1'1iL Lliarity, iiuinbL'f 1s NIC1048?3.
Tr4?dfLsI L?iid BLIILlSI Tmdf¢*i SLiinin¢r Siliool. lind a W1111Lr WLek'eiid 1¢slival over 3 d41I'5 eaLlI F￿bI￿arV l)[Ise(l in B¢ifa51 iits.
C() Anliim
BT7 IHR
Ohjcctll'CS 41nd ActLvIIIL
To ei)h¢?ncL Jnd d•'¢lup Ilie sk'ills, ialLnls and creative ability. ofpartiLipaiils Tll the Iradiiioiiiil JMS. Iliri)ugli th¢ piovi5ioiI or
oiir PrOg￿lKIne of ￿lL[1VIll
To provide acc￿8 lor en¥J¥ein¢iil in Iilldilional mkisiL ii'iiliin Bknifasi ivliere sii¢li oppurtiinilits lack'ing tind in a iva). Ilint
I￿711 inir¢415L LILiessibiliry ia Ilie 8(Lially di%adv14 ntu¥ed. Acliieved IliroLigli bursary S￿)nIn[SI1]p5. ediiii4 lioii prograinmes aiid
fre4leasil>';
Tli¢ LliariThi acliiLved J iiet inL1)i￿¢ 511tplus of £57.057 IrDin a total iliLome ol'£ii1.496.
of I7.,%?81. Tli¢ prinLipal Itinding soiiries i%'err graiils froin Ilie ACNI. and BCC alon¥ iviili s¢11'.generaled iliLomL Ir0111 B()%
Page I

BELFAST SllI)IIllER SCFIOOL OF TRADITIOIIAL IIIUSIC
4NCIAL.ST.4T,
Iljl
FOR THE YEAR IYDED 31.%T
IARCH 2024
Ti'ustLbes' Aiinu411 Rei)oi't
Ti'ustees, Responsibilities Statenient
Tlie Ii'iistees ic I'e responsible for pi'ep421'in¢i Ilie Ti'iistL'e's Aiiiiiicll Repoit and tliL fiii<lllLi42I sli< leiiienls iii
c ccoI'dai)ce iviili applic<1ble law aiid Uiiited tKiiiiJdoiii AeLOlllltiiiLy Si<iiid1< I'ds {Uiiilecl Kiii(Jdoi?) Geiierally
Accepted AcLOlllltiiib Pi'acticel
Tlie law ai)plicable to cli<ll'ilies iii Ni oi'iliei'ii Ii'eland I'equii'es Ilie Ii'LlStees lo prei)ai'e fiiiaiicii£ I stateiiieiils
t"oi' eacli liii¢111Cliil ye<ll' wl)iLI] tFive 1( Iriie aiid 11( ii. vieiv of tlie stlc te of <11fl¢ irs ol"Ilie Llicirity cind of tlie inLoini112
I'esoui'ces £iiid ai)plic%l1ioii ol"I'esources of tl)e cliill'ity foi- tl)at period. It) pi'ep£ll'll)lTr tliese fiiiaiiciill sllL tetneiils,
tlie triislees cll'e i-equii'ed to..
select siiilable <lCLOllI)ling polices aiid then apply Il)eiii consisteiiily.
observe Ilie nietliods 1£ nd principles iii Ilie Cli<?rities SOR P ?0151 FRS I O?):
niake jiidiyement5 2L nd estii)iales 1111£ l (Il'e rec?soI)able and i?riideiil;
stc1te ¥vhetl)er applicable 1lCCOLinlingF Stand1L I'ds have beeii followed, subjeLI to lÉ 1)y nlaterial
depai'tLlI'es disclosed ai)d explaiiie(l ii) Il)e fiiiaiicial slalenieiils;
pi'ep1< ie tlie fiiiai?cial slalenienls on tlie goiii<F COIiLei'ii basis iiiiless it is iiiappropi'iale lo pi'esunie
Iliat Ilie cl)ai'ity will coiilinue in oper<ilion.
ThL Iriistees (ire responsiblL tor kLepiiig pi'oper ac¢oiiiiliiibi reLords Iliat disclose with I'edSOll<ible acciira¢y
¢ t Éllly liiiie tl)e finaiiLil& I p05itiun of the c111< rity 1( lid eii&1ble Ilieiii lo ensiii'e tl)al Ilie financial st<lteinents
coniply willi Ilie C111( l'ilies Act (Noi'tliei'n Ireldncl) 2008. tlie Cl)arilies IALcoiints aiid Reports) RegyLilalioiis
(Noi'tliLI-ii IrelLliidl ?0151 1¢ 1)d Ilie i)rovisioiis o f Ilie Iriist deed. Tl)ey 1¢ re alsu I'espoiisible tor S<ifLLYLlal'diiiL'
Ilie assets ot Ilie Lliai'ity Kiiid lieiile toi. 1<1kiii<? reasoiiable slLI)s for Ilie pi'evenlioii ai)d deteclioii ot fraud
By Oi'dei. of tlie Bo?I'd
Bi-end.qn ￿l01'gan Ti'ubtee
Date: 4th Janiithry 2O2i
Page ?

BELFAST SUMTrIER SCHOOL OF TRADITIONAL MUSIC
FINANCIAL sTATE￿IENTs
FOR THE YEAR ENDED 31ST MARCH 2024
REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS,
Opinion
We have audited the financial statements of Belfast Summei. School of Traditional Music (the 'chai'ity') foi. the year ended 31
March 2024 which cornpi'ise the Stateinent of Financial Activities. the Balance Sheet, the Statement of Cash Flows and the
notes to the financial statements, including a suinmary of significant accounting policies. The financial I'epoiting frarnewoi'k
that has been applied in their prepai-ation is applicable law and United Kingdom Accounting Standards, including Financial
Repoiting Standai'd 102 Thef117ancial Repoi't117g Siandal'd applicable in ihe UK Repiiblic of Ii'eland (United Kingdom
Genei'ally Accepted Accounting Practice).
In oui. opinion, the financial statements:
give a true and fail. view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming
resources and application of resoui'ces, including its income and expenditure for the year then ended;
have been propei'ly prepared in accoi'dance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) (effective l January 2015) - (Charities SORP (FRS102)), the Financial Reporting
Standai'd applicable in the UK and Republic of li'eland (FRS 102).
have been prepai'ed in accoi'dance with the requii'emenls of the Companies Act 2006.
Basi5 for opinion
We conducted our audit in accordance with Intei'national Standards on Auditing (UK) (ISAS (UK)) and applicable law. Oui.
responsibilities undei. those standards are further described in the Auditor's responsibilitie5 foi. the audit of the accounts
section of our i'epoit. We are independent of the charity in accoi'dance with the ethical iEquiitments that aiE relevant to our
audit of the accounts in the UK, including the FRC'S Ethical Standard, and we have fulfilled our othei. ethical i'esponsibilities
in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to
pi'ovide a basis for oui. opinion.
Conclusions relating to going Concern
We have nothing to i'eport in respect of the following mattel's in relation to which the ISAS (UK) requii'e us to report to you
where:
the tl'UStees' use of the going concern basis of accounting in the preparation of the financial statements is not
appi'opriate. or
the trustees have not disclosed in the financial statements any identified matei'ial unceitainties that May cast
significant doubt about the charity's ability to continue to adopt the going concei'n basis of accounting for a period
of at least twelve months fi'om the date when the financial statements are authorised for issue.
Other information
The othei. infoi'mation comprises the infoiThation included in the annual report, other than the financial statements and our
auditor's report Ihereon. The trustees are responsible foi. the othei. infonnation. Oui. opinion on the financial statements does
not cover the other infoi'mation and, except to the extent otherwise explicitly stated in oui. report, we do not express any form
of assui'ance conclusion thereon.
In connection with oui. audit of the financial statements, our responsibility is to l'ead the othei. infoi'mation and, in doing so,
consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in
the audit oi. othei'wise appears to be materially misstated. If w¢ identify such matei'ial inconsistencies or apparent material
misstatements, we are required to determine whethei. thei'e is a material misstatement in the financial statements or a material
misstatement of the other information. If, based on the woi'k we have perfomied, we conclude that there is a rnatei'ial
misstatement of this other information, we are required to repoit that fact.
We have nothing to report in this regai'd.
Page 4

BELFAST SUMMER SCHOOL OF TRADITIONAL MUSIC
FINANCIAL STATEMII NTS
FOR THE YEAR ENDED 31ST MARCH 2024
REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS,
Matters on ivhich Ive are required to report by exception
In the light of the knowled.
(re and understandin(F of the Trustees and its environinent obtained in the course of the audit, we
have not identified material Inisstalements in the Trustees, Repoit.
We have nothing to repoit in respect of the following matters in relation to which the Companie5 Act 2006 requires us to
report to you if, in oui. opinioii:
sufficient a¢¢ounling records have not been kept. or
the fiiiancial stateinents al'e not in a(Freeinent with the accounting i'ecords. oi.
ceitain disclosui'es of li'ustees, reinunei'alion specified by law are not Inade; or
we have not received all tlie infomiatioii and explanations we require for our audit.
Responsibilities of trustees
As eyplained mol'e fully in the Stateinent of Trustees, Responsibilities, the trustees. who al'e also the directors of the chai'ity
foi. the puipose of coinpany law, are responsible foi. the preparation of the financial stateiT]ents and for being satisfied that
they give a true and fair view, and for such intei'nal control as the dii'ectors detennine is necessary to enable the preparation
of financial stateinents that al'e free fi'om inaterial Inisslateinent, whether due lo fraud or error.
In prepai'ing the Iinancial stateinents, the ti'ustees al'e responsible for assessing the charity's ability to continue as a going
concei'n, disc105in(T as applicable, matters related to goino concein and using the going conceiTr basis of accounting unless
the trustees eitlier intend lo liquidate the coinpany oi. to cease opei'ations, oi. liave no realistic alternative but to do so.
Auditor's responsibilities for the audit of the finallcial statements
Our objectives al'e to obtain reasonable assui'ance about whether the financial slatements as a whole are free froin Inalerial
Inisstateinent, whetlier due to fraud or errol., and to issiie an auditor's i'eport Iliat includes oui. opinion. Reasonable a55uI-ance
is a high level of assui'ance, bul is not a guarantee that an audit conducted in accordance with ISA5 (UK) will always detect a
material misstatement when it exists. Misstateinents can arise from fi'aiid or error and are considered Inaterial if, individually
or in the aiyoi'egate, they could reasonably be expected to influence the econoinic decisions of users taken on the basis of
these financial statements.
Irregularities, including fi'aud. are instances of non-coinpliance witli laws and regulations. We desion procedures in line witli
oui. responsibilities, outlined above, to detect Inatei'ial Inisstateinents in respect of ii-l'egulai'ilies, including fraud. The extent
to wliich our pi'ocedures al'e capable of detecting irregularities, including fraud, is detailed below.
Explanation as to Ivhat extent the audit Ivas considered capable of detecting irregularities, including fraud
The objectives of our audit in respect of fraud, are to identify and assess the risks of Inaterial inisstatement of the financial
statements due lo fraud,. to obtain siifficient appi'opriate audit evidence i'egarding the assessed risks of material misstateinent
due to fraud, through designing and iinpleinenting appi'opi'iate I'esponses to those assessed risks; and to respond
appi'opi'iately to instances of fi'aud or suspected fi'aud identified during the audit. However, the priinory responsibility for the
prevention and dete¢lion offraud rests with both manageinent and those chai'ged with governance of the Charity.
Oui. appi'oach was as follows:
We obtained an understanding of the legal and regulatoiy requirements applicable to the chai'ity and considei'ed
that the most siunificant are the Coinpanies Act 2006 and the Financial Repoiting Standard applicable in the UK
and Republic of li'eland (FRS 102) (effective l Januaiy 2015) - (Charities SORP {FRS 102).
Enquiry of nianageinent, those chai'ged with governance and the entity's solicitors around actual and potential
litigation and ¢laiins.
Enquiry of entity staff in compliance fvnctions to identify any instances of any non-compliance with laws and
regulations.
Reviewing financial stateinent disclosures and testing to supporting documentation to assess compliance with
applicable laws and regulations.
Page 5

BELFAST sui￿1￿[ER SCHOOL OF TRIKDITIONAL IWIUSIC
FINANCIAL STATEI¥IENTS
FOR THE YEAR CI NDED 31ST ￿lARCH 2024
REPORT OF THE INDEPENDENT AUDITOR TO THE IV[E￿lBERS,
Auditing th¢ I'isk of manageinent oveii'ide ol contro15. including thi'ough le5ting journal enti'ies and othei.
adjustments lor appioprialene55, and evaluating the business I'ationale of signilicanl transactionb Outside tl)e
nonnal ¢ourse of business.
As pail of an audit in acLOI'dance iviih ISAS (UK) Ive e.xei'cise professional judgement and maintain piDfessional scepticism
thi'oughout the audit. We also..
Idenlily and assess tlie I'isks of material misslaleinent of the financial statements. Ivheihei. due to fraud or erioi..
design and pertoi'm audit p1￿CedU1.cs responsive to tlios¢ I'isks, and obtain audit evidence that is sufficient and
appropi'iale to provide a basis foi. our opinion. Thc risk of not detecting a matei'ial misstatcmenl I'esulting from
fraud is highei. than foi. one I'esulting froin errol., a5 li'aud niay involve collusion, foigeiy, intentional otnissions.
misi'epi'esenlalions. oi. the ovei'ride ot inlei'nal control.
Obtain an undei'slanding of internal control I'elevanl to the audit in ordei. to design audit PlOLedui'es that arc
appropi'iate in Ilie uircumstances. bul not foi. the purposes of expressing an opinion on the effcctiveness of the
company's intei'nal conti'ol.
Evaluate the appropi'ialencss of ac¢ounling policies used and the reasonablen¢ss of accounting estimates and
related disLlosui'es made by the dii'e¢lors.
ConcludL on the appiY)pi'iateness uftlie dii'eclors, use of'the going concern basi5 Ot accounting ai)d: based on th¢
audit evidence obtained. Ivheihei. a tnatei'ial unceitainty e.iisls I'elated to events or conditions th<lt mav cast
signiticant doubt oil the chai'ily's ability to continue as a going concern. If ive conclude that a matei'ial uncertainty
exists, we are Irquiird to di'aiv attention in oui. audilovs I'eport lo the I'elated disclosures in Ihc financial statements
or, i I sucli disclosui'e5 al'e ii)adequate, to modily our opinion. Our conclusions ai'c based on Il)c audit evidence
obtained up to oui. auditoi's repoit. Floivevei.. lului'e events or Conditions may cause the Chai'ity to cease lo continue
as a going concei'n.
Evaluate the overall presentation. sti'uclure and conlenl of the tinancial slatemenls, including the disclosures, and
Ivheth¢i' the tinancial slaleincnts I'epresenl Ihc underlying Ii'ansactions and events in a Inannei. that achieves fail.
pi'esenlalion.
A fuithei. des¢i'iplion of our Irsponsibilities foi. the audit of the financial slaletncnts is located on the Financial Repoi'ling
Council's ivebsile at.. http.'/liviviv.frc.org.uklaudilorsi'csponsibilities. This description toi'ms pait of our auditovs I'epoi'l.
We communicate ivith Ihosc charged ivith govei'nan¢e regai'ding, among other matters, ilie planned scope and liining ot the
audit and signiticant findings, including any signiticanl defi¢iencies in inlci'nal control that ive idenlit"y during our audit.
Use of our report
This repoit is tnade solely to tlie charitable con)pan) s membeis. as a body, in a¢¢ordance ivitl) Chaptei- 3 of Part 16 of th¢
Companies Act 2006 and regulations made undei. that Act. Oui. audit ivork Ii<iS been undertaken so that ive might State to the
chai'itable cotnpany's membeis those matlci's ive al'e I'equii'ed to stale lo Il)etn in an auditois, repoit and for no other pui'pose.
To the fullest extent permitted by law, Ive do not accept oi. assuine I'esponsibility to anyone othei. than the chai'ilable company
and its membeis as a body, foi. our audit iyork, foi. this I'eport, oi. for the opinions ive have foi'med.
LAWRENCE SHEARER F.C.A., Senior St4ltutory Auditor
FOR AND ON BEHALfi OF O'HARA SHEARER, Statutory Auditor
O'HARA SHEARER
CHARTERED ACCOUNTANTS
AND STATUTORY AUDITORS
547 Falls Road
Belfast
BTII 9AB
Dated: 4th Januaiy 2025
Page 6

BELFAST SUMMER SCHOOL OF TRADITIONAL MUSIC
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
STATEMENT OF ACCOUNTING POLICIES
Accounting Convention and Basis of Accounting
The financial statements have been prepared undei. the historical cost convention.
The financial statements have been prepai'ed in accoi'dance with Accounting and Reporting by Charities..
Statement of Recommended Pi'actice applicable to cliarities preparing their accounts in accordance with
the Financial Reporting Standai'd whicli applies in the UK and Republic of Ireland (FRS 102)
(effective l January 2015) (Charities SORP (FRS 102)), the Financial Reportin.
(F Standard applicable
in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Going Concern
At the time of appi'oving the financial statements, the trustees, have a reasonable expectation that the charity
has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees,
continue to adopt the going concern basis of accounting in preparing the financial statements.
Income Recognition
Income is recognised when the Charity has entitlement to the funds, any performance conditions attached
to the item(s) of income have been met, it is probable that the income will be received and the amount
can be measured reliably.
Interest Receivable
Intei'est on funds held is included when receivable and the amount can be measured reliably; this is
normally upon notification of the intei'est paid oi. payable by the Bank.
Resources Expended
All expenditure is accounted for on an accruals basis and is classified undei. headings that aggregate all
costs related to the categoi'y.
Fundi'aising costs include the costs of advertising, producing publications, printing and mailing fundraising
material, and staff costs in these ai'eas.
Costs of charitable activities include direct expenditure incurred through operational activities.
Governance costs represent the costs associated with the governance arrangements of the charity which
relate to the general running of the charity as opposed to those costs associated witli fundraising or
charitable activity.
Fixed Assets
All tangible fixed assets are recorded at cost.
Page 7

BELFAST SUMMER SCHOOL OF TRADITIONAL MUSIC
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
STATEMEI NT OF ACCOUNTING POLICIES
Conliniiecl
Depreciation
Depi'eciation is calciilated to write off tlie cost of fixed assets over theii. estimated useful lives
at tlie following rates..
Computer Equipinent
200/0 residual value
Repairs and Reneivals
All repaii's and renewals are written off as incurred
Pension Costs
Tlie chai'ity does currently operate a pension scheine.
Debtors and Prepayments
Ti'ade debtors and other debtors are i'ecognised at tlie settlement amount dLie after any discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Creditors and Provisions
Ci'editors and provisions al'e recognised where the chai'ity has a present obligation resiilting from a past
event that will probably result in tlie transfer of funds to a third paity and tlie amount due to settle tlie
obligation can be ineasLlI'ed oi. estimated reliably. Ci'editoi's and pi'ovisions are normally recognised at
tlieir settlement ainount after allowing foi. any trade discounts due.
Financial Instruments
The Charity only has financial assets and financial liabil ities of a kind tliat qLialify as basic financial
instruments. Basic financial instruments al'e initially recognised at ti'ansaction value and subsequently
measLired at theii. settlement value witli the exception of bank loans which are subsequently measui'ed at
amortised cost using the effective interest method.
Foreign Currencies
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange
ruling at the balance slieet date. Transactions in foi'eign cui'rencies al'e translated into stei'ling at the rate
of exchange ruling at tlie date of the transaction, Exchange differences are taken into account in arriving
at the net movement in funds.
Page 8

BLI LFAST SUMTrIER SCHOOL OF TRADITIONAL MUSIC
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
STATEMENT OF ACCOUNTING POLICILI S
Coiiliiiiiecl
Fund Accounting
Uni'estricted fLiiids are general fiinds tliat al'e available foi. use at tlie Trustees, discretioii in fuitlierance of
tlie objectives of the chai'ity.
Desigiiated funds are unresti'icted funds set aside by tlie ti'ustees out of iinrestricted fLinds for specific
fLItLlI'e purposes.
Restricted fiinds are tliose given for use in a partiCLilar aiEa oi. for specific purposes, tlie use of wliich is
restricted lo tliat area or purpose.
The income received froin flinders depends on the charity rneeting detailed ci'itei'ia on expenses plans.
Grants given under such conditions aiE also given subject to tlieill being obtained for in connectioii witli tlie fLlrthei'ance of the
charity's aiins and objectives.
SLich incoine can be repayable to the fLindei' if such expenses plans and criteria are not met.
Such income is only defei'red wheii the donoi. specifies tliat tlie gi'antldonatioii miist only be used in futui'e accounting periods.
or tlie donoi. has iinposed conditions whicli mLlSt be met before the cl)arity lias unconditioiial eiititlement.
Incoine fi'orn cliai'itable activities includes income i'eceived Liiidei. contract or whei'e eiititlement to grant fLinding is subject
to specific pei'formance conditions is recogiiised as eai'ned as tlie related goods/services al'e provided.
Gi'ant income included in tliis category pi'ovides fLinding to siippoit peifoi'mance activities and is itcognised where
there is entitlement, ceitainty of receipt and the amount can be measured witli sufficient reliability.
Income is deferred wheii.. fees/perfoi'mance related grants are received in advance of tlie performaiice/event to
which they relate.
Reserves Policy
Uiii'estricted fiinds are needed to provide funds which cali be applied to specific projects to enable
these pi'ojects to be undertaken at short iiotice and to covei. the rLinning costs of tlie Cliarity for a liinited
period, slioLild tliere be a significant shortfall in pi'ojected income.
Page 9

BELf4AST SEINlIl.IF.R SCHOOL or TRADITIONI AL II.IllSIC
STATEIllEINT OF FINAIN Cl,IL,Kc'riTr'iTIES
tli¢ inefjmL 'ind t
FOR TFIE I'EAR ENI DCD 31ST IIIAIICH 2024
incoi.
eNditui'¢ aceTrunt
Uni'estrieted Re511'icted Endoivnment TOTAL
Fund5
Funds
2024
TOTAL
2023
INCOlwlE AND EIYDOIVNI ITrlEIYTS FRO￿[..
DonatlOll5 and legacies
Incoine from investn)ents
Incon)¢ froin cliarilable activilies
Income from otlier trading activities
73,895
382.708
94.893
168,788
382.708
132,757
151.747
TOTAL INCOINIE AND EINDOIVNNIENTS
456,603
)4,893
551,496
284,S04
E,XPENDITURE ON:
Expenditur¢ on raising funds
ExpenditLire on cliai'ilable 2etivitie5
Otlier expcnditure
Net gainsl{lossesl on investments
399,452
94,893
494,345
261,901
TOTAL RESOURCES E,XPEINDCI D
399,452
94,893
494,345
261,901
NET INCONlfil{EIPENDITUREI
57,151
57,151
22,603
Transfers betiveen funds
NET ￿[ovE￿N[lNT IN f4[INDS
57,151
57,151
22,603
RCCOIYCILIATION OF fLINDS
TOTAL FIINDS BROUGHT fioRIVARD
30.431
30.431
7.828
TOTAL FUNDS CARRIED FORIVARD
87,582
87,582
30,431
The St£ltemenl of Finuneial Activities ineludes llll losses in the yellr and thei'efoi'e
Stlltement of Tutal Recognised Gains nnd Losses hkis not been pi'epared
All of the above imounls irlate to continuing activitits
The nt¢ompAnylng #t¢•U￿tIng policits Ilie no1¢5 form ijart of these firt#n¢iBI 5tHtemenls
Pag¢ 10

BELFAST SUMMER SCHOOL OF TRADITIONAL MUSIC
BALANCE SHEET
AS AT 31ST MARCH 2024
2024
2023
NOTES
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Debtors and prepayments
Casli at bank
Cash on deposit
Cash in liand
89,197
31,003
53
64
89,250
31,067
Creditors: amounts falling due within one year
12
(1,668)
(636)
NET CURRENT ASSETS/(LIABILITIES)
87,582
30,431
TOTAL ASSETS LESS CURRENT ASSETSI{ LIABILITIES )
87,582
30,431
Creditors: amounts falling due after more than one year
13
NET ASSETS/(LIABILITIES)
87,582
30,431
FUNDS:
ENDOWNMENT FUNDS
UNRESTRICTED INCOME FUNDS
14115
87,582
30,431
RESTRICTED INCOME FUNDS
14/16
87,582
30,431
These financial statements were appi'oved by the Ti'ustees on 4th January 2025
and are signed on their behalf by:
fi￿￿￿￿
BRENDAN MORGAN
TRUSTEE
DATE 4tli Januaiy 2025
The aecompAnying accounting polieies thnd notes form part of these financial statements
Page 11

BELFAST SUMMER SCHOOL OF TRADITIONAL MUSIC
STATEMENT OF CASH FLOWS
FOR THE YEAR NDED 31ST MARCH 2024
2024
2023
NOTES
CASHFLOWS FROM OPERATING ACTIVITIES
Cash generated from operations
16
58,183
22,603
Net cash inflowl(outflow) fi'om opei'ating activities
58,183
22,603
Investing activities
Investinent income
Pui'chase of tangible fixed assets
Acquisition of investments
Disposal of investments
Disposal of tangible fixed assets
io
Net cash from investing activities
Increasel(decrease) in cash 2nd cash equivalents in the year
58,183
22,603
Cash and cash equivalents at the beginning of the year
31,067
8,464
Cash and cash equivalents at the end of the year
li
89,250
31,067
Relating to:
Cash at banli and in hand
11
89,250
31,067
Tlie aeeompanying accounting policies llnd notes form P1¢ rt of these fin1¢ ncial Statements
Page 12

BELfAST SllilliNICR SCHOOL OF TRADITIONAIJ Il,IllSIC
N()TIS TO'I'HL fiNI ANICIAL STATEI Il.IENI TS
"OR I-IIE I'EAII [4 NDED 31SI' fvI,KRCH 2024
I. DONATIONI S AIYD LEGACIES
Unrestrieted R¢5ti'ieted
Funds
Fund8
Unrestl'iLted Restricted
2n24
2023
Donations
Legacies
2. INI co￿{E FROttrl Iyi VESTINIENTS
Unresti'ieted Re5ti'ieted
Funds
Fuiiils
Unrestrictcd Re5trietcd
Funds
Funds
2024
2023
In¢onie from UK listed investments
Incon)¢ liDm casli
3. INCOINIE FRofwl CHARITABLE ACTIVITIES
Unrestrieted R¢5tricted
Fund5
Funds
Unrestrieted Resti'icted
Funds
riunds
2(124
2023
Alt5 Council of Nortliern Ireland- National Lottery Fund
Belfast City Council - CMAG
Belfclst City Council - Arts & Hci'itage Fund
Bellast City Council - Titanic Ceili
Toiiri511) Noi11iern Ireland
Belfast City Council & Toiii'isn) Nl Prodiicl Developn)ent
Doniianl Aocount5 Fund Nl
Destination CQ Bid
Nollh Donoliue Foundation
50,000
20.000
7,600
50,000
20.000
7,600
2,895
50,000
20,000
8,677
50,000
20,000
8,677
2.980
9.000
33,600
2,895
2,980
9,000
33.600
70,000
70,000
17,293
17,293
7,500
1,000
7,500
1,000
1.000
1,000
73.895
94,893
168.788
54.080
78,677 132.757
4. INCOINIE FRO￿1 I OTHER TRADING ACTIVITIEI S
Uni'estrieted Restrieted
riunds
Unresti'ieted Resti'ieted
riunds
2024
2023
Conccrt & Box oific¢ Tickets
Event Ticket5
Sponsoiship, Advertising and Fundraising
315.424
315.424
115.108
115,108
67.284
67.284
36.639
36,639
382,708
382.708
151,747
151,747
Page 13

BELFAST SUfvIfvIER SCHOOL OF TRADITIONAL ￿lUS[c
NOTES TO THE FINANCIAL STATEfvIENTS
FOR THE YEAR ENDED 31ST TrIARCH 2024
5. E.XPlI NDJTURE ON IL41SING FUNDS
Unrestricted Restri¢ted
Funds
Fund5
Unrestricted Restrieted
Funds
Funds
2024
2023
Promotional and fundraising cosls
6. EXPENDITURE ON CHARITABLE ACTIVITIES
Unrestricted Restricted
Funds
Funds
Unrestricted Restricted
Fund5
Funds
2024
2023
Wages and salaries (Sec Note 81
Social security costs {See Notc 8}
Rcpairs and oifice Inaintenance
Ai'libl Fees
Management Fees
Production and Techical Costs
IT ai)d production equipment
Arlisl costs
VolLinteei' costs
Marketing clnd Promotional Costs
Fui)draisii)g Costs
Bo,x Office Costs
Printing, postage and stationery
Sundry expenses
1,743
48,338
50,081
580
11,904
12,484
150,485
61,478
76,619
2,517
37,666
3,059
35,113
1,859
21,646
357
38.785
189,270
61,478
76,619
5.017
37,666
3,059
37,118
1.859
21,646
357
41,977
41,475
25,124
7,722
16,168
2,900
23,082
1.486
14,675
2,413
42,433
8,636
2,420
84,410
27.544
7,722
21,631
2,900
30.903
1,486
14,675
2,413
2,500
5,463
2,005
7,821
392,542
91,628
484,170
177,602
78,677 2S6,279
Support Costs And Governince costs
Ligl)t and hcat
Telcplione and inlernel
Office rent puyable
Insurance
Audit fees
Subscriptions and licences
Loan interest
Bank interest and charges
1,680
950
635
1.680
6,359
1.686
1,680
2,537
636
420
1,680
2.537
636
420
5,409
1,051
450
450
349
349
6,910
3,265
10,175
5,622
5.622
TOTAL EXPENDITURE ON CHARITABLE ACTIVITIES
399,4S2
94,893
494,345
183.224
78,677 261,901
Page 14

BELFAST SUMMER SCHOOL OF TRADITIONAL MUSIC
NOTES TO THE FINANCIAL STATEMEI NTS
FOR THE YEAR ENDED 31ST MARCH 2024
7. NEI T (OUTGOING)/ INCOfvIING RESOURCES FOR THE YEAR
This is stated after charging/{ci'editing)
2024
2023
Audit fees
Depi'eciation
1,686
636
8. SALARY COSTS AND EMOLUMENTS
2024
2023
Total staff costs wei'e as follows:
Wages and salai'ies - key manageinent pei'sonnel
Wages and salai'ies - othei. staff
Staff pension costs - key inanagement personnel
Staff pension costs
Employei. social 5ecui.ity costs - key management pei'sonnel
Employer social security costs - othei. staff
Einployer social security costs- Employment Allowance
31,000
13,259
2,170
928
1,680
1,044
11,788
68
628
50,081
12,484
The average monthly numbei. of employees during the year was as follows..
2024
Number
2023
Number
No employees had emoluiments in excess of £60,000 {2023.. £Nil)
Tl'ustees, remuneration und benefits
Thei'e was trustees, remuneration paid totalling £685 relating to payment of fees as musicians and no other benefits
for the yeai. ended 3 1st March 2024. (2023: £Nil)
Ti'ustees, Expenses
Thei'e were no trustees, expenses paid for the yeai. ended 31 st Mai'ch 2024. (2023: £Nil)
Page 15

BELFAST SUMIWIER SCHOOL OF TRADITIONAL MUSIC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YE4 AR EINDED 31ST MARCH 2024
9. TANGIBLE FIXED ASSETS
Compiiter
Equipmeiit
Total
COST
As at I st Api'il 2023
Additions
Disposals
As at 31 st Marcli 2024
DEPRECIATION
As at 1st April 2023
Charge for year
Eliminated on disposal
As at 3 1st Mai'ch 2024
Net book valiie 2024
Net book value 2023
10. RECONCILIATION OF OPERATING PROFIT TO NET CASH FLOW FROM OPERATING
ACTIVITIES FROM OPERATING ACTIVITIES
2024
2023
Operating SiiLylusl(Deficit) for the year
Depreciation
Movement in debtors
Movement in ci'editors
(Gain)/Loss on investments
(Profit)/Loss on disposal of Fixed Assets
Net cash inflowl(outflow) from operating activities
57,151
22,603
1,032
58,183
22,603
Page 16

BELFAST SUMMER SCHOOL OF TRADITIONAL MUSIC
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
11. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEI AR
2024
2023
Debtors
Pi'epayments
12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Social security costs and othei. taxes
Acci'ued expenses
1,668
636
1,668
636
13. CREDITORS: AMOUNTS FALLING DUE AFTER ONE YEAR
2024
2023
Other creditors
14. MOVEMENT IN FUNDS
Opening Net Movement
Balance
in Funds
2024
2023
Unrestricted Income Funds
General fund
30,431
57,151
87,582
30,431
30,431
57,151
87,582
30,431
Opening Net Movement
Balance
in Funds
2024
2023
Restricted Income Funds
Grants received
Page

BELFAST SUMMER SCHOOL OF TRADITIONAL MUSIC
NOTEI S TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MARCH 2024
IS. UNRESTRICTED INCOMI FUNDS
2024
2023
Balance at I st April 2023
30,431
7,828
Incoming i'esources for the year
Resoui'ces expended for the year
Ti'ansfei's between funds
456,603
205,827
(399,452) (183,224)
Balance at 31 st March 2024
87,582
30,431
16. RESTRICTED INCOME FUNDS
2024
2023
Balance at I st April 2023
Incomino resources for the year
Resources e,xpended for the year
Transfers between fLinds
94,893
78,677
(94,893) (78,677)
Balance at 31 st March 2024
16. LEGAL STATUS
Belfast SLimmei' School of Traditional Music is a Cliai'ity registeL'ed with The Chai'ity Commission for
Northei'n Ireland Chai'ity Numbei. 104823. Date of Registration 19th April 2016.
Page 18