Company Registration Number: N1615954
Charity Number: N1104893
Strand Arts Centre
IA c¢Jmpany Ilmlt•d by guarantw. not havlng a shar• Capltall
Annual Report and Audited Financial Statements
for the financial year ended 31 March 2024
*ADIA045F
1911212024
COMPANIES HOUSE
A11
#73
DNTCA Limited
Chartered Accountants and Senior Statutory Auditor
Omieau House
91-97 Omieau Road
Belfast
BT7 1SH

Strand Arts Centre
{A ¢ompany limlted by guarantee, not havlng a share capltal)
CONTENTS
Page
Trustees, and Other Informaiion
Trustees, Annual Report
Statement of Trustees, Responsibilities
Independent Auditorfs Report
8-10
Statement of Financial Activities
Balance Sheet
12
Statement of Cash Flows
13
Notes to the Financial Statements
14-20

Strand Arts Centre
IA company limited by guarantse, not having 4 $har• ¢apitsll
TRUSTEES. AND OTHER INFORMATION
Trusteeg
Brian Gaffney
Jonathan He9an (Resigned 26 October 2023>
Jenna Hall (Resigned 19 April 2023)
Claire Ritchie
Rachel McGuickin
Mary Neely
James Morton
Stephanie Vaughan
Paula McKay
Mark Compston
Kathryn Thomson
Chairpor3on
Kathryn Thomson
Company Se¢retary
Mark Compston
Charity Number In Northem Ireland
N1104893
Company Registratlon Number
N1615954
Registered Office and Principal Address
156 Holywood Road
Belfast
BT4 1NY
Northem Ireland
Audltors
DNTCA Llmited
Chartered Arxountsnts and Senior Statutory Auditor
Ormeau House
91-97 Ormeau Road
Belfast
BT7 1SH

Strand Arts Centre
{A company limited by guarantee, not having a share capilall
TRUSTEES, ANNUAL REPORT
for the financial year ended 31 March 2024
The trustees present their Trustees, Annual Report, combinin9 the Diredors. Report and Trustees, Report, and the
audited financial stalements for the financial year ended 31 March 2024.
The financial slaternents are prepared in accordance with the Companies Act 2(￿6, FRS 102 'The Flnancial Reporting
Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities. Ststement ol
Recommended Practs'ce applicable to charities preparing their financial statements in accordance with the Financial
Reporting Slandard applicable in the UK and Republic of Ireland IFRS 102).
The charity is a registered charity and hence the report and results are presented in a form which complies wilh the
requirements of the Companles Act 2006 and, although not obliged lo Comply with the Statement of Recommended
Practice applicable in the UK and Republic of Ireland FRS 102. the organisation has implemented ils recommendations
where relevant in these financial statement$.
Financial Review
The results for Ihe financial year are sel out on page 11 and addillonal notes are provided showing income and
expenditure in greater detail.
Financial Results
Al the end of the financial year the charity has assets of £782,90812023 - £587,014) and liabilities of £533,475 (2023 -
£394.608}. The net assets of the charity have increased by £57,027.
Trustee8
The trustees who served throu9houl the financial year, except as noted, were as follows..
Brian Gafthey
Jonathan Hegan (Resigned 26 October 2023)
Jenna H811 (Resigned 19 April 2023)
Claire Ritchie
Rachel McGuickin
Mary Neely
James Morton
Stephanie Vaughan
Paula McKay
Mark Compslon
Kathryn Thomson
The secretary who served during the financial year was..
Mark Compston
Compliance wlth So¢tor-Wlde Leglslatlon and Standard8
The charity engages pro-actively wilh legislation, standards and codes whith are developed for the sector. Strand Arts
Centre subscribes to and is compliant with the following..
The Companies Act 2006
The Charities SORP (FRS 102)
Structure and Governance
The charity is a company limited by guarantee. not-for-profft and not having a share capital. governed by its
Memorandum and Articles of Association. It is a company incorporated under the charities act 2006 {N1615954). The
company is a charity recognised by the Northem Ireland Charity Commission (N100285).
A Management Team of 6 manage the day-to-day running of the charity, reporting to the board ol trustees and ensurlng
the cofflpany is adhefing io its core values listed below;
The main purpose of Strand Arts Cenlre is to be "The creative heart of East Belfast where everyone wants to be..
Realising the vision of. A thriving. inclusive and inspiring hub with an innovative programrne rooted in creab'vty,
community and heritage, which improves the lives of all who visit.. This purpose and vision will be delive￿￿ through
the organisalions specifi¢ charitable purposes which are monitored, evaluated and reported on annually the charity
commission-
The advancement of arts and culture through increased engagemenv participation in the arts amongst Easl Belfast

Strand Arts Centre
{A company limited by 9uarantse, not havlng a share capltsll
TRUSTEES. ANNUAL REPORT
for the financial year ended 31 March 2024
community and beyond.
The advancement of heritage through the preserrfation, improvement and continued use of Northem Ireland's oldesl
cinema and only workin9 art deco picture house.
The advancement of education by developing skills through our arts Workshops and development of knowledge
through attendance of our cuftural film screenings, theatre perfomances, hentage tours. book launches. etc.
The advancement of citizenship and community development by way of a benefiaal 'hub' . a shared space where
all the East Belfast community is welcome.
The additional charitable purpose of Ihe Provision of recreational lacililies for all Ihe cofflrnunity providing the beneffls
of mental and social stimulation, social interaction and community cohesion
Core Alms and Objectlveg
The following ten aims and objectives have been identified to direct the services and activities the organisation delivers,
ensuring they will deliver on the charitable purposes listed below..
Attract audiences to the Slrand as more than just a cinema - as a multi purpose arts c%nlre
Develop strong sustained partnerships with other art5 organisations. community groups, charitles from other sectors
and corporate businesses
Create a programme which increases equality of opportunity for engagement in arts, culture and heritage
Create a programme which delivers on community needs
providing positi¥e health, leaming, andlor social
outcomes, and targeting marginalised groups
Be an appealing and distinctive cultural deslinalion which in$pires locals and attracts tourism and generates a
positive economic impact
Be welcoming lo all - bè physically, financialty and perceptively accessible
Communicate the value ol the Strand as the last picture house in Nl, and preserve and promote salient local history
Refurbish the building in a manner which preserves ils heritage and highlights its unique story, whilst addressing
disability access, dilapidated services and the need for improved facilities
Achieve sustainable finanual, staff and operational resources
Operate in a socially responsible manner, implementing best pradice procedures
Strand Arts Cenlre srts within and draws a significant proportion of ils audience from the East Belfast Neighbourhood
Renewal Area. Truly a shared venue. our paI￿n$ vary in religious cultural and economic backgrounds.
Achlovement and perfornianc•
2023124 has been a strong year for social Impact by Strand Arts Centre (SAC), as the organisation has expanded rt arts
audien￿ numbers and community partners with thanks to its high calibre arts programme, bespoke community seniices
and creative engagement aclivily, all of which are carefully curated lo meet our charitable purposes.
Furthermore,
this year has seen the organisalion strengthen ils sustainability. building il is board capacity and skills and reaching ils
total funding target required to deliver the much needed refurbishment of its building.
TTadin9 income and footfall lor film has outperformed national trends. increasing by 22Q/o on 2022123. Bringing film
and retail lumover, in real temis, on a par with our previous best perfonning year 2018119. Whilst private tt1￿ in¢om8
reached new heights with a 2511h increase on 2022123.
The following summaries the scale of adivity delivered over this period:
SAC altraded over 75,568 visitors, of which 7,434 attended live artlstic perfomances (such as music, theatre,
comedy) and 8.160 parti¢ipaled in creative workshops and aclivilies. and 9,747 patrons attended specialist film events
with talks or interactive elements
SAC took part in 10 festivals bringing national and intemalional artists and events to east Belfast which would not
otherwise have visited
SAC delivered a total of 736 live events, workshops and classes and worked with 670 artists to deliver our annual
programme
SAC partnered wilh 98 Community groups care homes schools charities and churches to ensure ouw adivity reached
those who would benefrt most
Highlights throughout this year include:
32 free creative educalional workshops targeting low income families.,
41 Out￿aCh heritage events
325 pupils in local schools using Strand education packs
40+ weekly dementia friendly 'Silver Screenings. for a total audience of 1331
Supporting the delivery of the East Belfast Lantern parade by hosting 15 workshop5 for 1,075 participants and
coordinating 1.000 participants on the day

Strand Arts Centre
IA company limited by guarantee. not having a share ¢apitsll
TRUSTEES, ANNUAL REPORT
for the financial year ended 31 March 2024
Securing £250k funding from Garfield Weston and £150k from Foyle Foundation towards our Capital refurbishment
Hosting accessible events featuring and celebrating N.1. creatives who are successful on the global stage, namely..
producer Mark Huffam CBE. actor Ciaran Hinds. BAFTA & Oscar directors & writers Ross Vthite and Tom Befkeley,
. autor Colin Bateman, and more.
The Auditors
The auditots, DNTCA Limited, (Chartered Accountants) have indicated Iheir willingn8ss to continue in office in
accordance wilh Ihe provisions of Section 485 of the Companies Ad 2006.
l _ Lout and signed on its behalf by:
Approved by the Board of Trustees on
Kathryn Thi*nson
Ch•lrp•rdon
r• Rltshl•

Strand Arts Centre
IA company limited by guarantee, not having a share capftal)
STATEMENT OF TRUSTEES. RESPONSIBILITIES
for the financial year ended 31 March 2024
The trustees. who are also directors of Strand Arts Cenlre for the purposes of company law, are responsible for
preparing the financial slatements in accordance with applicable law and regulations.
Company law requires the trustees as the directors to prepare financial slalements for each financial year. Under Ihal
law the trustees have elected to prepare the financial slatements in accordance with United Kingdom Generally
Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law) including FRS102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" Under company law the trustees must not
approve the financial stalements unless Ihey are satisfied that they give a true and fair view of the state of affairs of the
charity and of the net income or expenditure of the charity for that period.
In preparing these financial slatemenls, the trustees are required to-
select suitable accounting policies and apply them consistently.,
observe the methods and pnnciples in the Charities SORP
make judgements and accounting estimates that are reasonable and prudent:
slate whelher the financial statements have been prepared in accordance with applicable accounting standards,
identify those standards, and note the effect and the reasons for any material departure from Ihose standards., and
prepare the financial slatemenls on the going concern basis unless it is inappropriate to presume that the charity
will continue in operation.
As explained in note 3. the financial slalements have been prepared on a going concem basis.
The trustees are responsible for keeping adequate accounting records thal are sufficient lo show and explain the
charity's transactions and disclose with reasonable accuracy al any lime the financial position of the charity and enable
them to ensure that the financial statements comply with the Companies Act 2006 and. They are also responsible for
safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud
and other irregularities.
In so far as the Iruslees are aware..
there is no r81evant audit Information {infomation needed by the charity's audilor in connection with preparing the
audilofs report) of which the charity's auditor is unaware, and
the trustees have taken all the steps that they ought to have taken as trustees in order to make themselves aware
of any relevant audil information and lo establish Ihal the charity's auditor is aware of that information.
Approved by the Board of Trustees on
and $lgned on Its behalf by".
Kathryn Thorn￿￿
h•lrp•rson
Ir• Rlt8h
T￿￿1••

INDEPENDENT AUDITOR'S REPORT
to the Members of Strand Arts Centre
IA company limited by guaranteè. not havlng a shar• capllall
Report on the audit of the financial statements
Opinion
We have audited the charity financial statements of Strand Arts Centre ¢the charty,) for the financial year ended 31
March 2024 which comprise the Statement of Financial Activities (incorporaling an Incoffle and Expenditure Account).
the Balance Sheet, the Statement of Cash Flows and notes to Ihe financial statements, induding the summary of
significant accounting policies sel out in note 2. The financial reporting framework that has been applied in their
preparalion is applicable law and United Kingdom Accx)unting Standards. including FRS 102 'The Financial Reporting
Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Stalement of
Recommended Practice applicable lo charities preparing their accounts in accordance with FRS 102.
In our opinion, when ￿pOrting in ac￿rdance with a fair presentation framework the financial statements..
give a true and fair view of the stale of the charity's affairs as at 31 March 2024 and of ils Surplus for the financial
year then ended.,
have been properly prepared in accordance With United Kingdom Generally Accepted Accounting Practice,. and
have been prepared in accordance with the requirements oflhe Companies Act 20(￿ and the Charities Act (Northem
Ireland> 2008.
Basis for opinion
We conducted our audit in accordance with Inlemalional Standards on Auditing {UK} {ISAs (UK)) and applicable law.
Our responsibilities under those standards are further descrlbed in the Audilo¢s responsibilities for the audit of the
financial statements section of our report. We are independent of the charity in accordance with ethical requirements
that are relevanl lo our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and we have
lulfllled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we
have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons f•latlng to golng concorn
In auditing the financial statements, we have concluded Ihal the trustees, use ol the going concem basis of accounting
in the preparats'on of the financial statements is appropriate.
Based on the V￿rk we have performed, we have not identified any material uncertainlies relating to events or conditions
that, individually or GolleGlively, may casl signifi¢anl doubt on the charity's ability to continue as a going concem for
period of al least Iwelve months from the date when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with iespect to going concern are described in the relevant
sections of this report.
Other Inforn)ation
The other information comprises the information included in the annual report other than the financial slatemenls and
our Audiloi's Report thereon. The Iruslees are responsible for the olher information contained within the annual report.
Our opinion on the financial statements does nol cover the other infomation and. except lo Ihe extent oihepwise
explicitly stated in our report, we do not express any fomi of assurance conclusion thereon.
Our responsibility is to read the other infomialion and. in doing so, consider whether the other information is materially
inconsistent with the financial statements or our knowledge obtained in the course of the audit. Of Otherwise appears to
be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required
lo detennine whether this gives rise to a material misstatement in the financial slalements themselves. If, based on the
work we have performed, we conclude that there is a material misstatement of this other information, we are required
lo report that fact. We have nothing to report in this regard.
Opinion on other matter prescrlbed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Twstees, Annual Report for the financial year for which the financial statements are
prepared 15 consistent with the financial slalements- and
the Trustees. Annual Report has been prepared in accordance with applicable legal requiffjments.

INDEPENDENT AUDITOR'S REPORT
to the Members of Strand Arts Centre
IA com￿nY Ilmlted by guarantee. not havlng a share capital}
Matters on which we are required to report by exception
In the light of our knowledge and understanding of Ihe charity and its environment obtained in the course of the audrt,
we have not identified material misslatements in the Trustees, Annual Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us lo report to
you if, in our opinion..
adequate accountin9 records have not been kept.. or
the financial slalemenls are not in agreement with the accounting records and returns- or
certain disclosures of trustees, femuneralion specified by law are not made. or
the trustees were not entrtled lo prepare the financial statements in accordance with the small companies regime
and take advantage of the small companies, exempts'on in preparing the Trustees. Annual Report.
Responsibilities of trustees for the financial 8laternents
As explained more fully in the Slalemenl of Trustees, Responsiblllties set out on page 7, the trustees are responsible
for the preparation of the. financial staternenls and for being satisfied that they give a Irue and fair view. and for such
intemal control as they determine is necessary to enable th8 preparation of financial statements that are free from
material misstalemenl. whether due lo fraud or error.
In preparing the finanaal slalements, the trustees are responsible for assessing the charity's ability to continue as a
going concern, disclosing, as applicable, mallers related lo going concern and using the going Concern basis ol
accounting unless management either intends to liquidate the charity or lo Cease operations, or has no realistlc
alternative but lo do so.
Auditorf$ re$ponsibiliti¢s for the audit of the financial Statements
Our objectives are to oblain reasonable assurance about whether the financial statements as a whole are free from
malerial misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion.
Reasonable assurance is a high level of assurance, bul is not a guarantee that an audit conducted in accordance with
ISAS (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and
are considered malerial if, individually or in the aggregate, they ￿Uld reasonably be expeded to intluence the economic
decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line
with our responsibilities, outlined above, lo delect material misslalemenls in respect of irregularities, including fraud.
The extent lo which our procedures are capable of detecting irregulanties. including fraud is detailed below-
Our approach to identifying and assessing the risks of material misstatement in respect of iffegularities, including fraud
and non compliance with laws and regulations, was as follows..
Th8 engagement partner ensured that the engagement team collectively had the appropriate compet8nce, capabilities
and skills lo identify or recognise non-cornpliance with appli¢able laws and regulations.,
We identified the laws and regulations applicable to the company through discussions with directors and other
management,
We focused on specific laws and regulations which we considered may have a direcl material effect on the financlal
statements or the operations of the company,
To address the risk of fraud through management bias and override of controls, we=
Perfomed analytical procedures lo identfy any unusual or unexpected relationships..
Investigated the rationale behind significant or unusual transactions,.
Tested joumal entries to identify unusual transactions- and
Assessed whether judgements and assumptions made in delemining the accounting estimates were indicalive of
polenlial bias.
In response lo the risk of irregularities and non4ompliance with laws and regulations, we designed procedures which
included. bul were not lirniled to..
Agreeing financial ststement disclosures to underlying supporting documentalion.,
Readin
the minutes of meetin
s of those charged with goveman¢e:

INDEPENDENT AUDITOR'S REPORT
to the Members of Strand Arts Centre
IA company limited by guaran¢•e, nol havlng a shar• Gapltal)
Enquiring of managemenl as to aciual and potential litigation and claims-
Reviewing correspondence with HMRC, Companies House and Ihe company's legal advisors.
There are inherent limitations in our audit procedures described above. The more removed that laws and regulations
are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards
also limit the audit procedures required lo identify non-compliance with laws and regulations to enquiry of Ihe directors
and other management and the inspection of regulatory and legal correspondence, if any.
Matenal misslalements that arise due lo fraud can be harder to delect than those that arise from error as they may
involve deliberale concealment or collusion.
A further description of our responsibilities is available on the Financial Reporting Council's website at:
w4rn.frc.or9.uklauditorsresponsibilities. This description forms part of our audilorfs report.
Further Information regarding the scope of our responsibilities as auditor
As part of an audit in accordance with ISAS (UK), we exercise professional judgement and mainlain professional
scepticism throughout the audit. We also..
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error,
design and perfom audit procedures responsive lo those risks, and obtain audll evidence that Is sufficient and
appropriate to provide a basis for our opinion. The rlsk of not detecting a material misstatement resulting from fraud
is higher than for one resulling from error, as fraud may involve collusion. forgery, intentional omissions,
misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevanl to the audit in order to design audit procedures thal are
appropriate in the circumstances, bul not lor the purpose of expressing an opinion on the effectiveness of the
charity's internal control.
Evaluate the appropnaleness of accounting policies used and the reasonableness of accounting eslimates and
related disclosures made by Iruslees.
Conclude on the appropriateness of the trustees. use of the going concem basis of accounting and. based on the
audil evidence obtained, whether a malerial uncertainty exists related to events or conditions that may cast
Significant doubl on th8 charity's ability lo continue a8 8 going concern. If we Conclude that a material uncertainly
exisls, we are required lo draw attention in our Auditor's Report lo the ￿lated disclosures in the financial slalements
or, if such disclosures are inadequate, to modify our opinion. Our condusions are based on the audrt evidence
obtained up lo the date of our Auditorfs Report. However, future events or conditions may cause the charity lo cease
to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial slalemenls, including the disclosures. and
whether the financial statements represent the underlying transactions and events in a manner that achieves falr
presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing
of the audit and significant audil findings, including any significant deficiencies in internal control that we identify during
our audit.
The purpose of our audlt work and to whom we owe our responslbilltles
This report is made solely to the charity's members, as a body, in ar£ordance with Chapter 3 of Part 16 ofthe Companies
Act 2006. Our audit work has been undertaken so that we mighl state to the charity's members those matters we are
requiTed to slate to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do
not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit
work. lor this report, or for the opinions we have lormed.
Mr Mike N
fora
ior Statutory Audltor)
of
ITED
Chartered Accountants and Senior Statutory Auditor
Ormeau House
91-97 Ormeau Road
Belfast
BT7 1SH
..j.q]..1.1.124......
10

Strand Arts Centre
{A company limited by guarantee, having a share ¢apitall
STATEMENT OF FINANCIAL ACTIVITIES
{Incorporating an Incorne and Expèndituro Account)
For the financial year ended 31 March 2024
Unrestricted Restricled
Funds
Funds
2024
2024
Total Unrestricted Restricted
Funds
Fund5
Funds
2024
2023
2023
Total
Funds
2023
Notes
Income
Donations and legacies
601,157
110,507
711,664
517,865
207,960
725,825
Exppndlture
Charitable aclivities
544,130
110,507
654,637
519,695
207,960
727.655
Net incomel{exponditur•)
57,027
57,027
{1,830)
(1,830)
Transfers between fund8
1461
46
Net movement in funds for
the financial year
56,981
57,027
{1.830)
(1,830)
Reconciliation of funds:
Total funds beginning of the
year
17
192,452
1461
192,406
194,282
{46)
194,236
Total funds at the end of
the year
249,433
249,433
192,452
{46)
192,406
The Slalement of Financial Activities includes all gain8 and losses recognised in Ihe financial year.
All income and expenditure relate to continuing aclivities.
The notes gn pages 14 to 20 fomi part of the financial statemenls
11

Strand Arts Centre
(A ¢ompany limlted by guarantee, not having a share capital)
Company Number: N16159S4
BALANCE SHEET
as at 31 March 2024
2024
2023
Notes
Fixed Asseis
. Tangible assets
11
80,492
103,218
Current Assets
Stocks
Debtors
Cash al bank and in hand
12
13
14
5,325
58,499
638,592
3,570
332,550
147,676
702,416
483,796
Creditors: Amounts falling due within one year
15
1533.475
(394,608)
Net Current Assets
168,941
89,188
Total Assets 198• Currènt Llabllitle•
249,433
192,406
Fund$
Reslricled trust fvnds
General lund (unreslri¢ted)
{46)
192,452
249,433
Total funds
17
249,433
192,406
These financial slalements have been prepared in accordance with the special provisions relating to small companies
within Part 15 of the Companies AGI 2006.
Approved by iha Board of Trustees and author180d for188uo on
behalf by
and 8lgned on It8
K4th
gms•n
TnJt••
The notes on pages 14 10 20 fom part of the finanual statements
12

Strand Arts Centre
STATEMENT OF CASH FLOWS
for the financial year ended 31 Marth 2024
2024
2023
Notes
Cash flows from opèrating activltles
Nel movement in funds
Adjustments for..
Depreciation
Interest payable and similar expenses
57,027
<1,830)
22,726
7,068
24.164
10,502
86,821
32,838
Movements in working capital..
Movement in stocks
Movement in debtors
Movement in creditors
11,755)
274,051
142,301
213
(217.366)
132,025
Cash generated fionV{used in) operations
Interest paid
501.418
(10,502)
{52.292)
{9,102)
Net cash generated fromllused in) operating activities
490.916
(61,394)
Cash flows from Invegtlng actlviti08
Payments lo acquire tangible assets
<2,174)
Cash flows from financing activities
Repayment of long term loan
{6,399)
Net Incrèa8elldacrna8•) In cash and cash equlvalents
Cash and cash oquivalents at the beginning of the year
490,916
147,676
(69.967)
217,843
Cash and cash equivalents at the end of the year
14
638,592
147,878
13

Strand Arts Centre
(A company limited by guarantee, not having a share capital)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
GENERAL INFORMATION
Strand Arts Centre is a company limited by 9uaranlee incorporated in Northem Ireland. The registered office of
Ihe charity is 156 Holywood Road, Belfast, BT4 1 NY, Northern Ireland which is also the principal place of
business of Ihe charity. The financial statements have been pre$enled in Pound (£) which is also th8 lunctional
currency of the charity.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have been applied consisteTrtty in dealing with items which are considered
material in ￿latiOn to the charity's financial stalemenl$.
Basis of preparatlon
The financial statements have been prepared under the historical cost convention. modified to include certain
items al fair value. The financial statements have been prepared in accordance with Ihe Statement of
Recommended Practice (SORP) "Accounting and Reporting by Charities prepanng their ar￿UnIS in
accordance with Ihe Financial Reporting Standard appllcable in the UK and Republic of Ireland FRS 102..
As permitted by the Companies Act 2006, the charity has varied the standard fomiats in that act for the
Statement of Financial Activities and the Balance Sheet. Departures from the standard formals are lo Comply
with the requirements of the Charities SORP and are in compliance with section 4.7, 10.6 and 15.2 of that
SORP.
Statement of compllance
The financial statements of the charity for the financial year ended 31 March 2024 have been prepared on the
going concem basis and in ac￿rdanCe with the Statement of Recommended Practice (SORP) "Accounting and
Reporting by Charities preparing their accounts in accordance wilh Ihe Financial Reports'ng Standard applicable
in the UK and Republic of Ireland FRS 102"
Fund accountlng
The following are the Gglegories of funds mainlained..
Restrlcted funds
Restricted funds represent income received which can only be used for particular purposes, as specAfied by the
donors. Such purposes are within the overall objectives of the charity-
Unro$trl¢ted lund8
Unreslricled funds consist of General and Designated funds.
General funds represent amounts which are expendable at the di5crelion of the board, in furtherance of the
objectives of the tharily.
Designated funds comprlse unrestricted funds that the board has, at its discretion, set aside for particular
purposes. These designations have an administrative purpose only, and do not legally restrscl the board's
discretion lo apply the fund.
Income
Income is recognised by indusion in the Statemenl of Financial Activilies only when Ihe charity is legally entitled
to the inwme. performance ¢ondilions attached to the item(s) of income have been met, the amounts involved
can be measured with sufficient reliability and it is probable thal the income will be received by the charity.
Income from charitable activities
Income from charitable activities include income earned from the supply of serii¢es under contractual
arrangements and from perfomiance relaled grants which have conditions that specify the provision of particular
servicRs lo be provided by the charity. Income from government and other Covfunders is recognised when the
charity is legally entitled to the income because il is fvlfillin9 the condilions contained in the related funding
agreements. Where a grant is received in advance, its recognttion is deferred and included in creditors. Mthere
entitlement otturs before income is received, rt is accrued in debtors.
Grants from govemments and other co-funders typically indude one of the following types of conditions..
Performance based conditions.. whereby the tharity is contra¢tually enlitled to lunding only lo the extent that
the core objedives of the grant agreement are achieved. Wihere the charity is rneeling the core objectives of a
14

continued
Strand Arts Centre
IA company Ilmited by guarantse. not havlng a share capltal)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
grant agreement, it recognises the related expenditure, lo the exlent that it is reimbursable by the donor, as
income.
Time based conditions.. whereby the charity is contractually entitled to funding on the condition that it is utr'lised
in a particular period. In these cases the charity recognises the income lo the extent it is ulilised within the period
specified in the agreement.
In the absence of such condillons, assuming thal receipt is probable and the amount can be reliably measured,
grant income is recognised once the charity is notified of entrtlement.
Grants received towards capital expenditure arè credrted to Ihe Statemenl of Financial Actpiities when received
or receivable, whichever is earlier.
Expenditure
Expendilure is analysed betsveen costs of charitable activities and raisin9 funds. The costs of each activity are
separately ac¢umulaled and disclosèd, and analysed according to their major components. Expenditure is
recognised when a legal or conslruclive obligation exists as a result of a past event, a transfer of economic
benefits is required in settlement and the amounl of the obligation can be reliably measured. Support costs are
those functions that assist Ihe work of the charity but cannot be attributed to one aclivily. Such costs are
allocated to activities in proportion to staff lime spent or other suitable measure for each activity.
Tangible fixed assets and depreciation
Tangible fixed assets are staled at cost or at valuallon. less accumulated depreciation. The charge to
depreciation is calculated lo write off the original cost or valuation of tangible fixed assets, less their estimated
residual Value, over their expected useful lives as follows..
Plant and machinery
Fixtures. fittlng8 and equipment
20%
10%
Inventorles
Invenlones are slated at the lower of cost and net realisable value, after making due allowance for obsolete and
slow moving items. Cost includes all costs incurred in the normal course of business in bringing them lo their
present location and condition, Inventorles comprise fundraising materials. It is not considered practicable lo
value inventories of unsold donated goods at the financlal year end.
Debtors
Debtors are recognised al the settlement amount due after any discount offered. Prepayments are valued al
the amount prepaid net ofany trade discounts due. Income recx)gnised by the charity from government agencies
and other co-funders. but not yel received at financial year end, is included in debtors.
Cash at bank and in hand
Cash at bank and in hand comprises cash on deposit at banks requiring less than three months notice of
withdrawal.
Taxation and deferrnd taxatlon
No current or deferred taxation arises as the tharily has been granted charitable exemption. Irrecoverable
valued added lax is expensed as incurred.
Deferred lax is recognised in respecl of all timing differences that have originaled bul not reversed at the balance
sheet dale where transactions or events have occurred at that dale that will result in an obligation to pay more
tax in the future, or a right lo pay less tax in Ihe future. Timing differences are temporary differences belween
the tharity's taxable income and ils results as stated in the finanual statements.
Deferred lax is measured on an undiscounted basis at the tax rates that are antiapated to apply in the periods
In which the timing differences are expected to reverse, based on tax rates and laws Ihat have been enacted or
substantively enacted by the balance sheet dale.
Financial Instruments
A financial asset or a financial liability is recognised only when the charity becomes a paty to the contractual
provisions of the instrument.
Basic financial inslrumenls are inrlially recognised al Ihe amount receivable or payable including any related
15

continued
Strand Arts Centre
IA company limited by guarantee, not having a Sha￿ ¢apitsll
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
transaction costs.
Current assets and currènt liabilitiès 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.
lfilhere investmenls in shares are publicly traded or their fair value can otherwise be measured reliably, the
investment is subsequently measured at fair value with Ghanges in fair value recognised in income and
expenditure. All other such investments are subsequenuy measured at cosl less impairment.
Other financial instruments, including derivatives, are initially recognised al 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 al the presenl value of Ihe future payments discounted at a market rale of
interest for a similar debt instrument.
Other financial inslrurnents are subseq[￿ntlY measured at fair value, with any changes recognised in the
statement of financial aclivilies, with the exception of hedging instruments in a designated hedgin9 relationship.
Financial assets that are measured al cost or amortised cost are reviewed for objective evidence of impairment
al the end of each reporting date. If Ihere is obje¢live evidence of impairment, an impairment loss is recognised
under the appropriate heading in the statement of financial activities in whiGh 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. Olher financial assets are either assessed individually or
grouped on the basis of similar ¢fedit risk characlerislics.
Any reversals of impaimienl are recognised immediatety. lo the exlenl 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.
GOING CONCERN
There afe no material uncertainties about the entity's ability to contlnue operating and the financial statements
have been prepared on a Going Concem basls.
CRITICAL ACCOUNTING JUDGEMENT AND ESTIMATES
The preparation of the financial statements requires management to make judgemenls, eslimates and
assumptions that affect the amounls reported. These eslimales and judgements are ¢onlinually reviewed and
are based on experience and other factors, including expeclalions of fulure events that are believed to be
reasonable under ¢ircum$lance8.
INCOME
DONATIONS AND LEGACIES
Unrestrlcted Restrlcted
Funds
Funds
2024
2023
Cinema Revenue
Shop Revenue
Screen Advertising Revenue
Live Shows Revenue
Private Screen Hire
Grant and Subsidies Received
Other Income
220.049
134,930
220,049
134,930
180,521
102,214
9,173
34,341
39,347
341,642
18,587
41.414
49,934
142,748
12,082
41,414
49,934
253.255
12.082
110,507
601,157
110.507
711.664
725,825
16

continued
Strand Arts Centre
IA cornpany limited by guarantee. not havlng a share capllall
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
EXPENDITURE ON CHARITABLE
ACTIVITIES
Direct
Other
Support
2024
2023
Costs
Costs
Costs
Expenditure on charitable activites
381,508
22,726
250,403
654,637
727,655
ANALYSIS OF SUPPORT COSTS
2024
2023
Staff Costs
Bank and Finance Charegs
Governance
Office Administration Costs
Premises Costs
144,836
7,068
1,750
19.700
77,049
252,222
10,502
3.500
20,649
73.039
250,403
359,912
NET INCOME
2024
2023
Net Incom018 Stated after charglngllcredltlngl:
Depreciation of tangible assets
Audito¢s remuneration..
audit services
22,726
24,164
1,750
3.500
INTEREST PAYABLE AND SIMILAR CHARGES
2024
2023
On bank loans and overdrafts
7,068
10,502
10.
EMPLOYEES AND REMUNERATION
The slaff costs comprise:
2024
2023
Wages and salaries
Swal security costs
Pension costs
226,751
10,282
3,789
227,705
16.033
3,931
240,822
247.669
The average head Count ol employees during the year was 18 (2023= 18).
No Employee received employee benefits of more Ihan £60.000 during the year {2023: Nil)
17

ontinued
Strand Arts Centre
{A company Ilmited by guarantee, not ha¥lng a share capitsl)
NOTES TO THE FINANCIAL STATEMENTS
for the finanaal year ended 31 March 2024
11.
TANGIBLE FIXED ASSETS
Plant and
Fixtures,
machinery fittings and
equipment
Total
Cost
Al 31 March 2024
165,083
86,008
251,091
Depreciatlon
Al 1 Apnl 2023
Charge for the financial year
121,468
16,103
26,405
6,623
147.873
22,726
At 31 March 2024
137,571
33,028
170.599
Net book value
At 31 March 2024
27,512
52,980
80,492
At 31 March 2023
43,615
59,603
103,218
12.
STOCKS
2024
2023
Finished goods and goods for resale
5,325
3,570
13.
DEBTORS
2024
2023
Trade debtors
Prepayments and accrued income
53.161
6,338
327.243
5,307
58,499
332,550
14.
CASH AND CASH EQUIVALENTS
2024
2023
Cash and bank balances
638,592
147.676
15.
CREDITORS
Amounts falling due within one year
2024
2023
Trade creditors
Taxation and social security costs
Accruals and deferred income
29,227
11,743
492.505
32,017
8,840
353.751
533,475
394,608
16.
RESERVES
2024
2023
Al the beginning of the year
Surplusl(Deficil) for the financial year
192,406
57,027
194.236
(1.830)
At the end of the year
249,433
192.406
18

continued
Strand Arts Centre
IA cornpany limited by guarante8, not having a share capltal)
NOTES TO THE FINANCIAL STATEMENTS
for the finanaal year ended 31 Marth 2024
17.
FUNDS
17.1 RECONCILIATION OF MOVEMENT IN FUNDS
Unrestricted Restricted
Funds
Funds
Total
Funds
At 1 April 2022
Movement during the financial year
194,282
(1.830)
(46>
194,236
<1,830)
At 31 March 2023
Movement during the financial year
192,452
56,981
{46)
192,406
57,027
At 31 March 2024
249.433
249,433
17.2 ANALYSIS OF MOVEMENTS ON FUNDS
Bal•nc•
1 April
2023
In¢ome Expendlture
Tran8f•r•
between
funds
Balance
31 March
2024
Reslricled
Unrestricted funds
Unrestricted General
<46)
110,507
110,507
192,452
601,157
544,130
(46)
249,433
Total funds
192,406
711,664
654.637
249,433
17.3 ANALYSIS OF NET ASSETS BY FUND
Fixed
assets
. charlty use
Current
a8sets
Current
liabilities
Total
Reslricled Irusl funds
43,635
420,668
(464,303)
Unrestricted general funds
36,857
281,748
169,172)
249,433
80,492
702,416
(533,475)
249,433
18.
STATUS
The charity is a company limiled by guarantee not having a share capital.
The liability of the members is limited.
Every member of the company undertakes lo contribute lo the as5els of the company in ihe event of ils being
wound up while they are members, or wilhin one financial year thereafter, for the payment of the debts and
liabilities of the company conlra¢ted before they ceased to be members, and the costs, charges and expenses
of winding up, and for Ihe adjustment of the rights of the Contributors amng themselves, such amount as may
be required, not exceeding £ 1.
19.
TRUSTEE REMUNERATION AND EXPENSES
One trustee was employed by the ￿ntre during the year. Total salary costs incurred by Ihe Charity in respect of
this trustee was £36,000 (2023 '. £36,000) along with employer pension ¢ontributions of £893 (2023: £893).
No other salary costs or expenses were paid in respect of any other trustee in either 2023 or 2024.
20.
POST-BALANCE SHEET EVENTS
There have been no significant events affecting the Charity since the financial year-end.
19

continued
Strand Arts Centre
IA company Ilmlted by guarantee, not having a share capital)
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2024
21.
RELATED PARTY TRANSACTIONS
Wallace Accounting and Consultancy Limited and HolYw¢￿d Road Developments Limited are considered
related parties by virtue of a familial relationship existing between the directors of both wmpanies and a member
of the board. Total amounts paid to related parties during the year wa5 £7.88912023.. £8,030)
20