Charfty reslstraiioh humber NIC104975 Company r?gistration number NIO55719 INorthern Ir?landl SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr DJohn5ton (resigned 21109120231 Mr F McMorrovL Rev A McC3rtney Mr D Wilson Chairn)an Mrs R Alderdice MISJ Ru55ell The Venerable B Forde Mr l Hay0$ Mr I Currie Troasurer Charlty number NIC104975 mpany number N105S719 Re815tEred offir• The Cyrll Johnston Complex Balldnahinch Road Carryduff NorLhern Ireland BT8 8DI Indeper*dent examlner Moore Branlff 2 8ee¢hill Busine55 QBrk 96 Beechill Road Belfast BT8 7QN Banker5 U15ter Bank Connswater Branch Arches Retail Park Belfast Northern Ireland BT5 4AF
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) CONTENTS P*Ae Trustees, report IndepEndent exarniner'5 report Stètement of financial actlvities Balance shéet Notes to the financial statements
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIREcfoR'S REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The trustees present their annual rewrt and financial 5tatement5 for the year ended 11 December 2022. The financial statement5 have been prepared in accardance with the accounting policies set out in note I to the financial statements and cornply wiih the chariiy's governing document, the Companies Act 2006 and "Accounting and Reportin8 by Charities.. Staiement of Rerurntnended Practice applicable to charities preparin8 theii accounts In arcordanc@ with the Financial Reportln8 Standard applicabl in the UK and Republic ot Ireland (FR5 1021" leffectlve l January 20191. Oblectlves and activltSe5 Summér Madnéss exists to enthuse, equip, and n8a80 th@ youth and youn8 people of Ireland In their Christian faiTh so that thy may bè r?al chan8e-makers In their churches and communities across the Island. The prlnclpal object of rhe cornpani Is organlsing the Summer Madness Christian summer ¢onferen¢e. Our aim is to support y¢unA people as they inteerate life and work faith in ways that bernefit society rnorewidely in irnpfoving their citizenship and social responsibilit5. summer Madness runs Ifeland's largesi Christian youih event. The camp was started by Church of Ireland Youth Oepartment over thirtv years a80 ind now attract5 UP to 2.000 visitars, rnany of whorn camp on site for the duration ol the conference. It lJ5ually takes place on the first weekend of july and runs from Frlday to Tuesday and, for flve year5 has been held at Glenarm Estate, Northern I'eland. In 2020 the tamp was taneélled lor thè first timé due to Covid restrictions In 2021 we organised a very different style of festival with limitations cn numbe15 and activltie5, In this year120221 we re-located to a 51te In Portglernone, 8razlng larmlènd within the boundarles of the conlernplative Cistercian community al Oui Lady o16ethlehpm Abbey111 Ballymena Road, Port8lenone. Ballymena, BT44 8BLI. One ol the siand.our developments ol thls yiar has been the growing relailonshlp wlth the monastery and Brother Aelred, who leads the communlty. The mvtu31 feeling5 are that this 1$ an arran8emenr that may hawe longevity in It. john Kee ha5 teen im¥glning someihing long-term here. Writing thi5 report in 20231 can safely Say ihal thi5 is a direction that will re-appear in next ye3r's ieport. john Kee's mantra for 2022 land as part of his five.year strite8y for lon8.term futufe Madness) was 'Mèke it easler to or8anlse and rnake It easier to attend.. John Is developlng'flat-pack, set-up plans that can be followed by other5, thus not depending as much on h15 experience and nous. He has also been developing ways for agencies and campers to more easily a¢cess ihe festival onllne and in rÈal-life. lrt a world whert leadership VDlunteEiin8 is becomitts morè difficult to maintain or find the aim is to reduce the difficulties foi 810ups In term5 01 supervision, carnpin8, caterin8 and participation in the le5tival. The MadApp 15 a150 part of thi5 proiE55, both at the festival and throu8hout the year. Thls y•ar's Ftstlval rtturned to its pre.pand*rnic shap• liwe nights (Frlday to Tu•sdayl and mostly r•sidtntiil tamplng over thè weekend of school closlDg at the end Of lune. There were tyround 1,500 people parti¢lpating, A5 a new gr¢en-fleld and farmland site there were many ch311en8es- entrances and exils, access for heavy vehicle51 parking. carnpin8. Utilitie5.. the sile crew did ali incredible lob of making it all sèfÈ, accossiblÈ, and a vÈry positive eXpernCe for all who attÈndÈd. ThÈrÈ will be annual imprDvÈments as the yÈars progress. The 2022 theme was Pray With¢ut CeasinE. Two Ihings were èxceptional. Th¢ first Wè5 the ¥bvlous connection with the mpnastery an¢ theli life uf prayer, Father Aelred's cvntrlbution on main5t¥ge on the first ni8ht was very warmly received by the youn8 people. The second was the involvernent of 24..7 Prayer throughout the festival. Their input was enthusiastic and accessible to all. Much appretlation io them. Surnmer Madne55 ha5 alwa¥5 bpen a collaborative entprpri5e and involves a ranEe of 'partner' aEeDcies, whose 5IIPPDrt 3nd encouragemenr make the festival what it 15 today. Our partners who provide venue5, activitie5, programme, and personnel did not hesitète io do whatever they could to bring the Edent togethèr at Portglenone. One much appreciated development on site for the Campers was designating marquees to £roups of groups Form a Diocese or group ol churches. ThEy were then able to a551St the catering and prDvide inter-active times and 5pace5 loi their groups. Thi5 appear5 to have worked well.
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIREcfoR'S REPORT) (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 In addition to the youth camp, Summer Madness seeks to provide a range of other opportunities to young people and leaders. Over recent Wears we have developed a number of prolecis such as StreelReach, the Youth Mlnisiry Facebook Group, The 'Time Out, rnagazine publication ol knhn's Gospel and of the Acts of the Apostles whKh has followed up this iiear with an online App that prowides a 521ertion ol Jevotional reflection5 on the book ol P5altns. Over recent years we have iariied out sever?1 fundraising ad advocacy camp8i8ns, IToiler Twinning, Haa5s Hope- Political awarene5sI mobilization, Anti-Traffickin8, Anti-Poverty work etcl. This process has continued and grown throughout 2022. 80th church and statutory networks have been tryin8 OUI the app and have tegun io buy It. Statement ol Cornp15ance The trustÈes havÈ pard duÈ regard to gtsldance issued by the Charlty Commlsslon in declding what attivitiÈs the charity should undertake. ID the Autumn 012022 we have reviewed and UPBraded our Understandi and proce55es ol GDPR. There will now be awzreness Ach1•ments and perlotman¢• We have much evidence over the years of the effectlveness of our work In 5UPPgrtin8younB people as they benefit sle11. ID addition tD running Sutnrner M3dne55, the charitable company has lent Its expertise to ihe development of sirnilar Initiatlves on the vihole ol Irel3nd in partnership with other agencies. As a charity with a small CDre siaff, we make extensive use of volunteÈrs, è reduced number ar the festival this year. The experience of voluntttring wlth Summ•r Madness glvés those volunttèrs skills and •xperltncè whlch thty tak• Inro the r•st ol thtlr Ilvts. Iht Innovatlon ol the year w15 the introductlon of Silver Servers. Th15 is malnly office work and preparatlon for the Festival pro8ramme. A5 the nawe 5Ug8e5t, it 15 targeted at early-retired. A nutnber of peopl- are now working regularly in variou5 part-tirne capacitie5 rhroughout the off-season months. Flnanclal reeW Ihe Financial Statements deal with all the income and expenditure of the charitable company, as well as its financial position at the year end. The result5 for the year and the financlal positlon were wn51dered satisfactory by the trustees. At 31 December 2022, toial Charity funds were £146,20912021.. £282,966). Prlnclp•l fundln8 souru$ and how th•y support l•y obl•ctlts For our Dngoins work we are funded by ticket sales ai tÈstivals, regular mDnthly donors, one-Dff donations, tax refunds on Eift aided donatlons and grant support frorn Public bodies. For special wojÉct5 we seek funding from supportive organisations and Individuals. The charity 15 cuirently In p055ession al Educa1ian Authority Fundin8 in relation tD the MadApp project, the project wa5 originally planned lor 2 years and fiJndin8 was provided on this basis with a repayrnent clause for unspent funds included as part ol the provislons ct the grant. Works have been e%tended Into a third year and the Charity rtmalns In tontact with the Education Authority regarding on extension and we hope that rhe Authodtws SUPPDrt will remain In place for the additional year and the remalnlng funds can continue to e applied to the project.
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIREcfoR'S REPORT) (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 Rlsks and uncertalntles The Board ¢oThtlnuos to support the ed for a 'reserve pollc¥. Thlg would also brlng the Company In Ilne wlth the Charities Commissl¢n dvice on reserves. 1115 the policy of the charity that unrestricted funds which have not been de518nated for a specific use should be maintained at a level equivalent tg six rnonth'5 5UPPOrt fQ5t5. The trustee5 consider that reserves at this Ipvel will ensure that, in the event of a si8nificant drop in lundin& they will be able to CDntinue the charity's current activitie5 while consideration isgiven to ways in which additional fiinrlg MAY hg rAl%A R<prwps At 41 nrmr ?n?? amniinipd rn F146.?091?n?1.. FJA?,fifiAI whlp.h In¢lLid< dp%lgnatd fiJnd% of FE,rxi for cost5 in relation to the quest for a p¢rmanent site for the annual festial. Plans lor future péilods The trustee5 plan to keep a light Cortrol of expendilure and continue efforts ¢0 Increase donations, the support base ol the charitable company and the prDmoliorb of the conference 2022. Two flows olthauAht durlng 2022.. Fcr several year5 there ha5 bEen a 5en5e ol needing to consider a permanent Slte foi the le5tival. A variety ol venue5 IDr such a thing have been CDnsidered in a casual way. These discussions and hope5 have continued in 2022. almost exclusively now directed to Port8lenone, the mon35tery. and their leasing affan8ernent with a local Farmer. We ne8Oti3ted Space and time with him for this year'5 festival. The negotlatlons Include longer-term arrangement wrh him and rhe monastery. The aims and gbjects of the cornpany/charity. It ha5 been many years slnce Summer Madnes5 Wa5 Qllicially cgnstituted. There 15 1 8iowin8 feelin8 thal we need to make sure oui ccn5titutlOn 15 fit for purpD5e and that we hèvE 50tne a8reed protoco15 around l. tertns conversatlon5, but thls will become Board buslntss very soon Stru¢ture* governan and mznagement The charity is a compaiiy limited by guarantee and is constituted under a Memorandum of Association dated 24th June 21XJS and is r2CO8nlsed as a charity by HMRC. charlty numberXR83441 and by the Charlty Commlsslon tor Northern Ireland, charity nLmber NIC104975. The trustees, who are also the directors for the purpose of cThmpany law, and who served during the year an(J up to the date ol Signature of ihe financial statement5 were.. Mr D johnston Nfjr N Gilbert IR•slgntd 31 May 20221 Nlr F McM¢irow Re¥ Adrian Mccartney Mr D Wi150n Nfjr5 R Alderdice Mr5 J Russell The Venerable B Forde J Haye5 Mr J Currie (Appointed 8 November 20221 As ruIred on ad hoc basis thÈ trustees discuss tie appointment of potential new trustees for appointment to the Boèrd. Suitable Feople 3re approached and if they are willing to serve on th2 board their nomination5 IS put forward for approv31 by the Board. The trustÈes arÈ appointed for thoe year5 4nd are av)ilable for re-election. Ntiw members re1ve the relevant goveming docJments dnd the annual fillancial repoct. In practice all tr115tees stand for re-election each year at the AGM. The chief executive officer of the charity 15 Mrjohn Kee.
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIREcfoR'S REPORT) (CONTINUED} FOR THE YEAR ENDED 31 DECEMBER 2022 The Board of Trullees Is iespon5ible lor all aspeffls of corpor*e governance within the chariiable company. It meets a minimum of six timÈs a year to define and agrÈÈ stratÈgic prioritiés for thè charlty, monltor progress and revlèw thÈ resourcès available to sustain thÈ chaniable company. The day to day running ol Ihe ¢harrty Is iarried out bw rhe Lhief Execufive. John Kee. Risk mana8ement The irusiees have assessed the major risks, to which the Charity is eKposecJ, in pariicular those related to the operarions and finances af the charltable company. The rrusteesare satlsfled that SY5terns are In place to mltl83te any exposure to major rlsks. Public Beneflt siatemint Trustees have complied with the duti, to have regard ¢0 the Charity Commi5$1on for Nprthern Ireland'5 5tatutcry guidanceon the publi benefit re4uirement, iSSUeLI ur)der th Charities Act INorthern Irelandl 2008. The trustees, report was 3pprov8d by the Board of Trustees. Rev Adrian Mccartney Chalrman 21 September 2023
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SUMMER MADNESS INI) LTD I report to the trustees on my examination of ihefin3ncial statements of Summer Madness INI) Ltd (the charity) for the year ended 31 DetÈmber 21122. Respon5iblllties and ba515 of report As the trustees of the charity land also Its directors forthe purposes of company lawl you are responslble for the preparation of the financlal siatements in accordance wth ihe requlrements of Ihe CompanÈs Aci 2006 (the 2006 Actl. Havin8 Satisfied myself that the finan¥ial 5tatement5 of the charity are not required ¢D be audited under section 65 cl the Charitie5 Acl and are eliBible lor indepèndent examination, I report in resP&Ct of my examination the charity's financial s-.3ternents carried Dut under section 65 Df the Charities Act 2008 Irhe 2[08 Acil. In tarrying out my examin3tlDn I have followed all the applicable Directions given by thè Charity Commlssion Nonhern Ireland under section 6519llbl ol thè Charities Att 2008. Ihdependeni examlner'$staiement I have complèted my ex3*ination. I cornfirrn that no rnatters have com• to my attention In connection wlth ihe examination 8lvlng me cause to belleve that In any rnaterlal respect.. accounting record5 were not kept iii respect of the charitv a5 required bv section 386 of the 2006 Act. or the finincial 5tatement% do not accord with those recgrds.- or the fin2nclal staiement5 do not comply with rhe accounting requiremenis of section 396 of the 2006 Aci other than any requlrement that the attounts give a true and lair vlew which is not a matter ¢sIdered as part ol an Independent èxèmlnation-, or the finincièl starements have not been prep•red in aecordance wlth the method$ and principles of the Statement ol Recommended Practice for accounting and rèporting bs charities applicablÈ to charities preparing their aCCDunts in accordance wlth tht Flnancial Reporting Stèndard applicable In the UK and Republic ol Irtland IFRS 1021. I hawe no concerns and have come acr95s no other matter5 in connectlgn wlth the examination towhlch ?tientlon should be drawn In this report in order to enable a praper undEr5tanding af the financial statement5 to be ieachEd. Moore Branlll 2 Beechill Busines5 Park BeEchill Road BT8 7QN Doted.. 21 September 2023
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestrifftd Resrrlcted Total Unre5trlcted Re5trtrted Total fund5 fvnds lunds fund5 2021 ZOZ2 2022 Z021 zozi 2QZI Note5 1ncome from.. Donations and legatiés 86,312 121,680 17,087 86,312 121,680 17,087 133,685 91,606 6,640 62,100 J36,884 195,?B5 228.490 6.640 Tatal Incorn 225.n79 22fj,n79 241.9.11 19R.9R4 440.qis ndlture on.. 3SO,833 11,th)3 361,836 110,210 110,325 220.S35 Net lexpendkurellln¢ornefor the yearl Net movem•nt lynd) 1125,7511 111,0031 1136,7571 121,721 88,659 210.380 Fund balances at l January 2022 194,307 88,659 283,966 72.586 72,586 Furbd balances at 31 Oe¢tmber 2022 68,553 77,656 146,209 194,307 88,659 282,966 The sratemeni of financial a¢iivifies includes all gains and losses recognlsed In the year. All income and expenditure derive from continuing activities. The statement of flnancial actlvities also complies wlth the requirements lor an Income and expendlture ac¢oun¢ vnder the Companies Act 2006.
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) BALANCE SHEEr AS A T 31 DECEMBER 2022 2022 2021 Notes Flxed assets Tangible assets 12 3,678 3.490 CutrÈht Debtor5 13 7,228 207,833 6,419 283,011 Cash at bank and in hand 215,061 289,430 Crediiors.. amoun15falllkw due wlthln one year 14 112,5301 19.9541 Net current a55ets 202,531 279.476 T¢tal assets less ¢urrent Ilabllltles 206,209 282.966 Deferred Sncom• 15 160,OfpJl Net 155etS 146.209 282.966 Income lunds Restricted fund5 Unre5trlcted lun¢$ 17 77,656 88,659 Designated fund5 General unrestricted funds 18 5,000 189,307 63,553 68,553 194,3D7 146,209 282,966
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) BALANCE SHEEf ICONTINUEDI AS A T 31 DECEMBER 2022 The company is entitled to the exemption from ihe audit requirement contained in section 477 of the Companies Acr 1006. for the year ondÈd 31 Dètembèr 2022. The director atknowledge5 his responsibilities for complying %vith the requirement5 of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the compèny to Jbtain an audit of its financial statements lor the year in guestion in accordance with sectlon 476. These financial statements have been prepaied in accordance with the provision5 applic8ble to companie5 subject to the small companies regime. The financial stat•ments were approved by thè Tiustees on 21 September 2023 Mr J Hayes Treasuf•r Company re¥15tratlon numb•r N1055719
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 A¢¢ountin8 pollcles Charfrty informatlon summer Madness IN11 Ltd is a prlvate company Ilmlted by guarantee Incorporèled In Northern Ireland. The reglstered offlce Is The Cyril Johnston Complex, Ballynahinch Road, Carrydufl, BT8 8DJ, Northern Ireland. Ll Accountlng con¥entlon The financial statements have been prepared in a¢torlan¢e with the chority's Igoveming do¢uMenil. the Cornpanles Aci 2006, FRS 102 Yhe Financial Reporting Standaid applicable in the UK and Republic ol Ireland" I'FRS 102,1 and the Charit5 SORP 'Accountin6 and RepDrtin8 by Charitie5'. Statetnent of Recomrner)ded Practice applicable to Iharitie5 preparin8 their acrDunt5 In accordance with the Financial Reporting Stand3rd applicable in the UK and Republic of Ireland IFRS 1021" lelfective l January 20191. The tharlty Is a Public BÈnetit Entity as defined b¥ FR5 102. The charity has taken 3dvantage ol the provisions in SORP lor charitie5 not to prepare B 5titement of Cash Flows. Th* financial sratements aro prepared In sterlin8, which Is the luncrional currency ol the charlty. Monetary amounts in these flnanclal 5tatement5 are rounded to the nearest £. The financial staternents have been prepared under the historical c05t convention. The principal accounting policies adopted are set oul below. L2 Golni¢on¢erh At the time ol approvin8 the financial statement5, the tru5tee5 have a reasonable expectation that ihe charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adDPt the going concern basls tst accounting In preparin8 the Ilnanclal statem•nTS. L3 Charltablg fund6 Unrestricted fund5 are avallable for use at the dlscretlon ol the trustees In furtherance ol rhelr charitable objectlves. Re5tri(ied lund5 are subject to gpecilic conditions by d?nors a5 to how they rnay be used, The purp05e5 and u5e5 01 the restricted funds are set out in the notes lo the flnanclal statements. Endowment funds are subjéct to speclflt condltlons bydonors thatthé tapltal must be malntalned by the charitv. L4 Income Income Is recognised when the charlty Is legally entitled to It after any performance condltlons have been met, the amounts ran be measur•d r•liablyi and it Is probablt that Incomè will bè rec•ivéd. Cash conation5 are reiDgnised on receipt. Other donBlions are recognised ance the chaiity ha5 been notified of the donatlDn, unless performante tondiiions require dÈfÈrral of the amount. Income tax rÈcoverable in relation tts donations received under Gift Aid or deeds of covenant 15 reco8nised at the time of the donaiion. Legacies are reco8nised on r£ceipt or otherwise if the charity has been nolilied ol an impending distribution. the amount is known, and receipt is expected. If rhe amcAJnt is nor kriown, the legacy 15 treated as a contingent asset.
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Ac¢tsuntln8 policie$ Icontinuedl L5 Expendliure Expenyiture is recognised on an aetruals b)sis once there 15 a legal or ¢onstru¢iive obliÉ$tion to transfer etonomie behefit to a third party, it Is probable thal a trin5fer of ecDnofflic iEnefits will be rEquired in 5ettletnenl, and the atnount t)f the obligation ian be Measured reliably. Expenjlture Ss cla551fled by acnvity. The c0515 of ?ach acrivlty are rnade up ot the total of dlrecr cost5 and shared c05t5, including support costs Invdved in undertaking each activity. Direct cosrs attriburable to a single attivity are 8llocared directly ro that activiti, Shared costs which contribute to more than Dne activity and 5UPPOrt 10sts which are not attributsble to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the t)asls of lime speni, and deP.latIon charges are allocated on the portion of ttre asset'$ use. Irrecoverable VAT is charged as a cost agalnst the actlmty for whlch the expendllure was incurréd. L6 T•Th8lble Ilxed Tangible fixed a55et5 are initially rneasurel at C05t and 5ub5equEntly mEa5ured at C05t or valuation, ne¢ of depieciaiiDn and any impairment losse& Depreciation 15 recognised so a5 to write off the c05t or vèluation of assets le55 their residual values over their useful lives on Ihe follo¥n8 bases.. Plant and equipment 25% strai8ht15ne 25% 5trai8ht line ThE gèin or loss arisin8 on the disposal ol an asset is determined a5 the difference between the sale proceeds and the carrying value ol the asset, and is reco8nised in the statement ol flnancial activities. L7 Impairment of fixed a55etS At each reportln8 end date, the charity review5 the carryir)8 arnounts of it5 lan8ible a55et5 to deterrnine whether there 15 anv Indlcaiion that those assets have suffered an Impairment IDSS. If any such Indication exists. the recoverable arnount of the asse1 IS •stimat•d in ordèr to dèttrmint thè ext•ni of the Impairmènt loss lil ahv). L8 Cash ind cèsh *91ValentS Cash and cash e4ui¥alents include cash in hand, deposits held at ¢all with banks, other short-term liquid Investments With ori8inal maturities ol three month5 or le55, and bank overdialts. Bank cverdrafts are shown within borrowinES In culreni liabilitie5. L9 Finantial inrtrnments The ckiarity ha5 elECted to apply the provi5iQD5 015ectlDn 11 'Ba5ic Financial InEtivrDent5' and 5eEtion 12'0ther Finanrial Instrutnents155ues' of FRS L02 to 311 of it5 financial instruments. Financlal Instruments are recognlsed In the charlty's balance Sheet when the charlty become5 party to Ihe contractual provisions of the instrument. Fin3ncial assets and liabilities are Difset, with the net amounts presented in the financial statements. when there is a legally enforceable right lo set off the recognised amounts there is an intention to settle on a net basis orto realise the asset and 10-
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Ac¢tsuntln8 policie$ Icontinuedl 8osi¢fvrt4n¢ial assets Basic financial asset$, whl¢h include debtor$ 3nd cash and bJnk balances, are Initially measured at transaction prfce IneludSng tran5<tlQn CQ5t5 Ind are 5ub5equently cirried dt amorti5ed E05t Using the effeitive inteiE5t wethod unle55 the irrlnsernpnt con5ti-.utes a linarKing transattion, where the tran5artion is measured at the present value Of the future receipts discounted ata market rate of interest. Finanual assets classified as receivable within one year are not amortised. Bosleylnonclul Ilobllltles Ba51r. linanr.ial liabilitie.s. inrluding creditorg and bank loan5 Ire initially recogni5ed at transaction price unles5 the airangement consti-.utes a linaKin8 transaction, where the debt instrument is rneasured at the present'ialue Df the future payment5 dlseountd at a market rate of Int•rst, Financial Ilabilltits classlfied as payabl•within one y*ar art noi amortis•d, Debt in5trurnEnts are subsequently carried at amort15ed CD5t, U5inE the ellecti¥e interest rate method. Trade creditors are obli8atlons to Pay for 8oods or seryices th81 have been acqulred in the ordlnary course of operations from suppligr5. Amounts p3y3blo arB classiflod 35 current 113bllitips if payment is duo within ono Yoar orloss. If not. they aro prèspnted as nor-current liabilities. Trade creditors are reco8niseé ii)itlally at transaction prlce and subseouently measured at amortised cost Using the effective Interest method. Derecognltlon olflnuncfolllubllftles Fin3nci31 liabilities are dero8n1se when the charity's contractual obligations expire or ère di5char8Èd or cancelled. LIO T•M•tlon As a eharltable Company, It Is exempt from tax on intomt and galns To the extwt that thesè are applltd to Its eharltable obltcts. Lll Employ•e ben The cost ol any unused holiday entitlement is recoEnised in the period in which the employee's service5 are received. Termlnatlon benellts are reco8nlsed imrnedlately as an expense when the charity Is demonstrably committed to teimlnate the employment of an ernployee orto provideterminatlon benefit5. L12 Retirement benelits PaymÈnts to defing.d Contribution retlrement beneflt s=hemes ¥re chèr8ed Is an expense as they fall due. Crltlcal aceountlng e5tlm4te5 and lud8ements In the applicarion ol the charity's accounting policies. the trustees are required to make iud8Èments, estimates and as5umption5 about carryin8arnOUnt of d55ets and liabilities that are not r@Bdily app3ren-. from other 50urce5 Thg e5tim3tes and associated assumptlons are based on histDrical experiÈnce and other factors th3t are con%dered to be rÈlevanr. Actual results may dlffer from these estimates. ThE e5tirnates and underlyin8 a55UmPtIOns are reviewed on an on8OiD8 basis. Revisions to accountin8 e51imate5 are recD8ni5ed in the period in which the estimate is revised where the revision affect5 only ihat period. or in the period ol the revision and future periods where the rev15ion affect5 both current and fuiure periods 11
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Oonaiions and lerd¢ies Unwe5trfjcled funds Unrestrlcted fund$ Re5trlcted funds Total 2022 2021 2021 2Q21 Donations and gifts Giants 841,262 2,050 78,450 55,235 78,450 117,335 62,100 B6,312 I33.5 62,100 195.785 fjrant fundlng recelved Includes government grants In rhe above figures amouniing to E5751?021.. £14.9701 Charltjble artSvltleg Totalfunds 2022 Totsl fuThd5 2(21 Ticket sales 91,554 30.orK) 126 22.708 205,676 106 MadApp Other in¢orne 121,680 228,490 Analysis by fund Unrestricted lunds Restri(ted funds 121,680 91,fj06 136.884 oih•rfradln¢ actItI•$ Unrestricted Unre$trided lunds funds 20Z2 2QZI Sale of mer¢handlse Exhlbl-.ors and food vendors 3,703 13,384 2,793 3,847 othertradin8 actiYitie5 17,087 6.640 All of the 3bove relate to unrestricited fund5. 12-
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Charltable attivlties Charitable Expendlture 20ZZ Charitable Expendlture 2Q21 Conference, programme, site & logistics Costs 219,429 95.159 Share of support O)Sts (see note 71 Share of 6overnance ¢osts15ee note 71 141,387 1,020 124,176 1,2t)D 361,836 220.535 Analy555 by fund Unrestricted funds 350,833 11,OD3 110,210 110,325 Restrltred funds 361,836 220.535 13-
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Support Costs Support ¢osts GoveMan¢e ¢osts 2022 Support costs GttvÈrnance 2021 costs Staff CDSts 87,335 1,226 87.335 1.226 266 2.624 140 78.351 1.163 300 2,190 374 78,351 I.IS3 3W Depreciation Promotion Travel & subslstence 2,624 140 2.190 374 Tr3ining Volunteers Inter-agency collaboration Prafe55i0nal f••s 1,561 1,450 893 1,551 1,450 893 986 986 13,063 3,600 191 13.063 3.6CQ 191 Rent & rates 5.535 526 5,535 526 Telephon¢ cost5 Postage & carria8e Statian•ry, printing, office equlpment IT cosis 86 86 46 46 1,324 1,940 1,720 764 1,324 1,940 1,720 764 182 182 1,632 989 478 631 1,632 989 478 631 Subsciiptlons Bank char8e5 General expenses MadApp maintencnce c05t5 Exaniination and audit Ipes 33,997 33.997 1,020 20,000 20,QDD 1,200 1,020 1,200 L41,387 1.020 142,407 124,176 1,200 125.376 Analy5ed between 141,387 1,020 142.407 124,176 1,200 125.376 GovÈriancÈ tosts intludès paymènts to thè independent Èxaminèrol £1,02012021. £1,200) lor account compilation and indep¢ndent exominatlun fee5. Net movement In IuNI$ 2022 2Qll Net m)vement In funds is stated after ¢horyln¥ll¢redifjnel Fees payable to the company's auditor forthe independent examinationlauditaf the company's finant131 statements DeprEciation of owned tan8ib12 fixed as&els i.n?n 1,226 1,163 Trusto None of ihe trustees lor any persons connected with them) rettlved any remuneration or benefits from the charily during ihe vear. 14-
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Trustees Icontinuedl The charitable carnpany ha5 beneftted from the contribution of unpaid general volunteers. Their contribution 15 not accounted for due to the lack of a reliable basis of measurement. Rent amountlng ro £O.0012021..EI.5001 was waived bythe landlord, a company controlled by Dolway Johnston, Trustee. Employees The average monthly nurnber of employee5 durin8 the year was.. 2022 2121 Number Number Direct, Support & 8overnance Ernploym•nt (Qsts 2022 2Q21 Wa8e5 and salarie5 81.067 3,172 3,096 72.361 3,122 2,868 Other penslon cesrs 87,335 78.351 The iotal amount of employee beneflts re¢elved by key management personnel was £60.83812021.,£55,2821. The IN¢r*ase In 2022 relates to back pay ol penslon ¢ontributlons owed. The nurnber of erDployee5 whose annual retnuneration wa5 more than £60,(th 15 as follows.. 2022 Number 2Q21 Number Mana8ement Contributltsns rotalling £240012021.. £24001 were made to defined contributlon penslon schemes on behalf of employees whose ernoluments exceed £60,1M. li TaxatlDn The company Is re815téred as i charity with HMRC under ref@rÈntE XR83441. 15-
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 TahRlble flxed asseis Plant and •qulpmènt FixtuM$ and flttlng$ Toial Cost At l January 2022 Addition5 7,150 1,414 10,000 17.150 1,414 At 31 December 2022 8,564 10,000 18.564 DepreElatlon and irnpalrment At I IAniJary 2n22 Depreciation tharged in the year ifl.flnr) 1.3.fifsn 1,226 1,226 At 31 Decernber 2022 4,886 10,000 14.886 Carrylw amount At 31 December 2022 3.678 3,678 At 31 December 2021 3,490 3,490 Debtors 2022 2QZI Amounts l•llln¢ du• wlthln on• y••r: other debtors 6,878 350 6.069 350 Prepayments and accrued income 7,228 6.419 CredltDrs: amoun15 falllng due wlthln oneyear 2022 2(21 Other taxation and social security othcr ¢r¢ditors 1,031 399 1,554 275 Accruals and deferred Income ii,ioo 8.125 12,530 9.g54 16-
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Deferred In¢orne 2022 2QZI Arisin8 from M3dApp support:ontract income 60,000 Deferred income is included in the financi315tatements as follows.. 2022 2Qll Deferred Sncome 15 Included wlthSn'. Shown as deferre¢ Income on the face of the balance sheet 60,000 Movements in thE YEar'. Deférrtd incomè * i january 2022 Resou'ce$ delerred in the year 60,000 Deferred income Ot 31 De¢ember 2022 60,000 Service contract IoMe received For the 3 year period 2022 to 2024. Income relating to 2023 and 2024 has been deferred to be released in these futurt a¢countlng periods, Retiremènt benefit schemes D•lln•d conirlbution s¢h•m•s The charity tsperaies a defined cgntrlbutltsn pen5i0n 5¢heme in respect Ul Its CEO. The a$5ets ol the 5¢heme are held separately from those ol the charity in an independently administered lur)d. The pension cost char8e represents contributions payable by the charitable cornpany to the fund, amounted to E2,40012021.. £?,4() and wÈre char8Èd to unrestrl£ted funds. The chorltable compony c¢ntlnued to pay into a defined ¢¢ntribution pension plan in respert ol one ol its other employee5. The arnount reco8nised as ari expense in the year was E696 in respect of it5 Own Eontribution12021.. £4681, char8ed to unrestricted funds. 17-
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 17 Restritted funds The income funds ol the charity include restrirted fu5 comprisin8 the following une¥pended balan¢es of donations and grants held on trust lor 5pecili¢ purposes.. Movemeni In funds lTrcomlng resources Ro$ourco8 expondod Transf8ri 8al4n¢o •t l January 2022 Rfjfiourcos exwndod TMn8fer8 8al•nco At 31 December 2022 EA Youth Servi¢e- Youth App5 funding EA Youth SÈrvice- TBUC 127,314 l>O,IQOI 77,214 110,3781 9,970 76.406 Camp Pro8r4mme App FundinE EA Yourh Servlce. 2021 Festival Grant 9,570 9,570 19,5701 62,IW 160,22SI 11,8751 EA Youth 5ervice- Restricted Tan8lble Assets 1,875 1,875 16251 1,250 198,984 IILO,3251 88,659 ILI,0031 77,556 Oesllnated funds ThÈ income funds of the charity include the following designated funds which have been set aside out of unrestricted funds bv the rru5tees fer 5cl11t purp05es'. Mcvement fund5 Mo¥ement In fvnds Incoming Bal*nc• at r8eour¢o8 1 January 2022 Incomlng r8$ourc•9 Balanc• at 31 Docombor 20Z2 1 Jarnuary 2021 Desi8nated Fund.. Permanant site 5,000 5,IK)O 5.ODD 5,000 5,rKIo 5.000 The above funds have b?en de5ign3ted to 35SlSt the Charity in finding a permanent site. 18-
SUMMER MADNESS (NI) LTD IA COMPANY LIMITED BY GUARANTEE) NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 DECEMBER 2022 Analysis ol net assets between lunds UnrestrktedRestrl¢ied lunds lunds Tot•1 UttrestrlttedRestrlrted fuhds fvnds Total 2022 2022 2022 2021 2021 2QZI Fund balances at 31 December 2022 are represented by". Tan8ible assets 2,428 126,125 1.250 76.406 3,678 202,531 1,615 192,692 1,875 86,784 3.490 279,476 Provisitsns and deferred income 160.OCK)I 160,0(DI ,SS3 77,6SS 146,209 Ig4,307 88,6S9 282.g66 Related pnrty transa£tlons The total amount DI donations without conditions rectived from ttustees, theii immediate families and those entit5 in whiih they have a signifi(ant interest wa5 £10,8(Q12021,.£11.0501. Th• tkirltable eornpany octupi•s offlcls own•d b¥ a comp*rty controlleij by Dolwiy John0, Trust••of th• Board of trust••i and is charged a rnonthly rent of £300. None of the annual charge was walved durlns the year12021.. £1,5tK) was walvedl 19-
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