Brassneck Theatre Company IA company Ilmlt8d by guarant•o. not havlng a share capital) Annual Report and Unaudited Financial Statements for the financial year ended 310ecember 2024 'AE45w0YH* 0610612025 COMPANIES HOUSE A10 #168 Company Number: N1072517 Charlty Number: 105096 Brassneck Theatre Company {A company Ilmlted by guarante&, not havlng a sharè Capital) CONTENTS Page Reference and Administrative Information Directors, Annual Report Statement of Directors, Responsibilities Independent Examiner's Report Slalement of Financial Activities 10 8alance Sheet 11 Notes to the Financial Slatemenls 12- 15 Supplementary Information relating to the Financial Statements 15 Brassneck Theatre Company IA company Ilmlted by guarantee, not havlng a $hare capltall REFERENCE AND ADMINISTRATIVE INFORMATION Olrectorn Kevin Gamble Maria Mccourt Connla Mccann Niall Murphy Rebecca Dalzell (Appointed 115120241 Lynette Fay IAppoinled1619120241 Company se¢￿tary Connla Mccann Charlty Number in Northern Ireland 105096 Company Number N1072517 Reglstered Offlce and Prlnclpal Address 2 Hannahstown Hill Hannahslown Belfast Co. Anlrim BT17 OLT Northern Ireland Independent examlner PGR Accountants Limited Chartered Accountants Unil 2 Channel Wharf 21 Old Channel Road Belfast Co. Anlrim BT3 9DE Northern Ireland Brassneck Theatre Company IA company limitod by guarantee, not having a $h•re Capital) DIRECTORS, ANNUAL REPORT for the financial year ended 31 Oe¢ember 2024 The directors present their Directors. Annual Report, Combining the Directors, Report and Trustees, Report, and the unaudited financial slalemenls for the financial year ended 31 December 2024. The financial statements are prepafed in accordance with the Companies Act 2006, FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" and Accounting and Reporting by Charities.. Sialemenl of Recommended Practice applicable lo charities preparing their financial statements in arxordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. The Directors, Report contains the infomalion required lo be provided in the Directors, Annual Report under the Statement of Recommended Practice {SORPI guidelines. The director5 of the company are also charity trustees for Ihe purpose of charity law and under the company's constitution are known as members of the board of trustees. In this report the directors of Bra$$neck Theatre Company present 8 summary of ils purpose. governance, aclivilie5. achievernenls. and finances for the financial year 31 Decembef 2024, The company is a regislered charity and hence the report and ￿su11$ ate presented in a fom which complies wilh the requirements of the Companies Acl 2006 and, although not obliged lo comply with the Slalemenl ol Recommended Praclitx applicable in the UK and Republi¢ ol Ireland FRS 102. the organisalion has implemented ils recommendations Whe￿ ￿levant in Ihese financial stalemenls. Mi$$ion, Obje¢tives, and Strategy Ml•slon Stat•m•nt By producing quality, Professional Ihealre, Bras$neck Theatre Company conlribules lo the re-imaging of 1Olesl Belfast by endeavouring lo break the pre-conceptions that exist aboul Ihis part of our city, The company plays an integral part in everyday West Belfast society by ennching people's lives in the communities that we serve. Our work ￿fIe¢l$ all our citizens and is accessible lo all. Brassneck Theatre Company Is also dedicated lo supporting the development ol local arti$ts. writers. directors, de$igner$, lechni¢ians el¢. 8rassneck Theatre Company also operates a youth company.'BrassneckYouth.' Ils prirnary locus is nurturing chIld￿n and young people by providing them with professional arts trainin9, ma51erclasses, and workshops lo encourage aC￿sS and partiopalion in the arts while equipping them with the required tools lo become the Induslry prol8ssional$ of tomorrow. Anolher key priority ol the Company is ensuring the a¢r2$sibilily ol theatre throughout the human lifecycle.. ffom promoling a¢¢ess lo theatre Irom the very start through edu¢alion, as well as creating opportunities for children and young people for those considering a career in the arts. The vision of Bra$$ne¢k Theatre Company is lo provide quality, prolessional theatre lo local communities and further afield by focusing on the development ol new writing which addresses themes ol idenlily, history, culture, and religious and racial loleran￿. Our producliorss will continue lo be premiered in Wesl 8ellasl. before touring extensively across Ireland and further afield Iherefore creating and sustaining a vibrant, heallhy society. ObJ•ctlve8 8rassned( Theatre Company has created a six-slrand approach lo achieving ils core values, one that encapsulates both our mission and vision. To create professional, quality, and accessible theatre and delivering il lo the highest possible standards To develop and nurture oui youth members as well as local artists. wrilefs. designers & technicians To be proactive in contributing lo the re-imaging of Wesl Belfast To promote ovr plays, through Ihernes of idenlily, history, culture. and loleran To represent local communities by providing them with a collective and inclusive voice To collaborate with new and existing funding partnern and private sponsors lo improve company sustainability To develop audiences al a local, national. and international level as well as developin9 new audiences Actlvltles and Achl•v8ments In 2024 This year, Brassned( were successfvl in becoming an Annual Funding Programme {AFPI client for the first time, with the Arts Council of Northern Ireland. We received inlernalioDal recognition with our pr¢duclion of Project Children, and toured Gina Donnelly's play 'Anlhem For Oissatisfa¢tion' to the Oublin Fringe Festival, winning the Solas Nua Award 2024. We ￿Prise¢j our powerful 2023 initiative The Peokles Panlo in 2024 and was our largest audienc* ever for Brassneck show. We ale delighted with the ongoing success of Bras5ne¢k Youth, bul are struggling lo meet the demand. We will hopefully gel additional funding lo open up the programme lo those young people currently on the waiting list. Brassneck Theatre Company IA ¢ompany limlted by guarant8•, not havlng a share ¢apltall DIRECTORS. ANNUAL REPORT for the finanrial year ended 31 December 2024 ARTISTIC PROGRAMMING Pr 'Projecl Children. was repfised al The Lyric Belfast in Apnl 2024. Project Child￿n founder, Oenis Mulcahy, flew in from the US lo artend Ihe performance. Piojecl Children was inspi￿d by the initiative of the same name, sel up in 1975. Brothers Patrick and Denis Mulcahy, Cofk natives and Mernbe￿ ol the NYPD. watched news footage ol the violence from back home. From this, 'Projecl Children, is born. Over the next 40 years, they would bring over 23.000 Catholic and Proleslanl kids lo the U.S during the Summer months, as respite from the conflict. Belfast Playwright, Fionnuala Kennedy. documented this extraordinary Intervention through interviews with those who participated in Project Children. The Stage. s".Ilwww.Ihesla nn nned .co.uklreviewsl ro ecl-chiklfen-review-al-the-l ricthlheal -belf ras 'This ch8m7ing. pilch-perfect piecg should travel widely," ils conlenl. context and disam7ingly comedic traatment will have audiences laughing out loud, before Cutting fhem lo Ihe quick.. Bell891 Media Group hlt s'.Ilbelfaslmedia.comlthealre-review- 9c23-75dd3c5912 ro ect-children-is-funn oi 7e1-51cc411 'Projacl Children is an 8nduring story ol hope amidst Ihg chaos and one which Fionnuala Kennady and 8r8ssneck must be commended in telling." Anthem For Dissatisfaction Anthem For Dissalisfaclion lells the story of"Irish Twins" Safah and Jamie, who are about lo hit 30. Bul before they do, they're ￿living their greatest hits, 'Crgdil wn¢h', Austerity, and 'Free School Meols.... Benefils Bri18in never sounded 80 goodl 'Anlhem for Dissatisfaction, by Gina Donnelly had 118 World Premiere al Féile in Augu$l 2024 at The Roddy Mccorloy Herilage Cenlfe, and one show at Universily ol Ulster. The show received rave ￿vIewS from critics and audience members. The play Ihen travelled lo Oublin as part of the Oublin Fringe Festival where il won the Solas Nua Award. The Reviews Hub,. vi 'EuphorK. real, brutal" Bellasl Media Group ml vi If- r-wi . a rip-roaring lour de lorce Ihal WIN leave you dissatisfied to the very end- becaus8 you want more." he Peo le's Panlo In December 2024. Brassneck produced its second ever People's Panto. This year. the panto was Sleeping Beauty, wrillen by and starrin9 Neil Keery. The People's Panlo was sel up lo create a high-qualily, professional pantomime that will increase access lo the art$ for families from disadvantaged communities and schools with high number5 of students in receipl of Free School Meals, with an affordable ticket price in two local, accessible venues - Sl Comgall's, Falls Road, and Forth River 8owling Club, Woodvale Park. This year, we ￿ceiVed sponsorship trom CCU Credit Union. CCU said, 'This partnership was a true alignment of both oryanisations core valu8s. CCU Credit Union & Brassne¢k ThealTr Comp8ny Sha￿ a common vision lo improve the lives oflocal, working0 18-39 year-oldsl and having signed pertormances and special perlomances ol our Panlo specifically lor elderly people with dementia and adults with learning difficulties. We aim lo build on Ihis by offerin9 a relaxed perfomiance for the 'People's Panlo, proiecl in 2025, as well as offering more signed perfOrman￿S. y the énd 012024, we have had 9567 audience membe(s engaging with our work, had 68 performances of new writing by Belfast wrilef$ and performers, employed over 50 local a￿.$18 and lacililators. had over 72 youn9 people in our youth drarna programme, and have given over 500 free lickels lo marginalised groups. We anlicipale this lo be higher in 2025126. Indirect beneficiaries of our work include young people placed on work experience. a sharing of resources with other relevant arts ¢ompanies. contribution lo local government strategy and policy. inlerviews with PHO students lo infonn future ￿searCh. contribution al conferences. The￿ are no benefits within Brassneck's worf( thai would lead lo any harm. The￿ are also no private beneficiaries. Brassneck Theatre Company IA company Ilmlted by guarante•. not having a Share ￿pItalI DIRECTORS. ANNUAL REPORT for the financial year ended 31 December 2024 Financial Review The Truslees a￿ very appreciative of the financial support Ihal is provided by Arts Council of Northern Ireland, Garfield Weston. Arts and Business Nl. Foyle Foundation, O'oyly Carte, BackslageTrusl, Wavendon Foundation, Andfew Loyd- Webber Foundalion, Children In Need. Halilax Foundation Nl, CCU Credit Union. Ireland Funds and 8elfasl Crty Counul. Financial Results Al the end of the financial year the company has as5els 01 £128,57012023.' £129,593) and liabilities of £1.30012023.' £1,300). The net assets ol the company have decreased by £1.023 (2023.'In¢reased £14,525). Going Concern Having reviewed the resources available the directors believe Ihal the cornpany has sufficienl resour￿$ available lo enable il lo continue lo meet its ongoing obli9alions as and when they fall due lor a period ol al least 12 months from the dale ol appfoval of the financial slatemenls. In fom)ing their as￿ssMent. the directors considered the company's current financial position. ils income streams, and ils funding requirements lo May 2026. Accordingly, the directors consider il appropriat8 lo continue to adopt the going concern basis in preparatlon of Ihe financial slalemenls. Directors The directors who served Ihfoughoul the financi81 ye8f, except as noted. were as follows.. Mafia Mccourt Connla Mccann Niall Murphy Kevin Gamble Rebecca Dalzell (Appointed on 115120241 Lynette Fay (Appointed on 1610912024) The se¢￿tary who served during the financial year was.. Connla Mccann Compliance with Sector-wide Le9islation and Standards The company engages pro-actively with legislation, standards and codes which are developed for the sector. 8ra5sneck Theatre Company subscribes lo and 15 compliant with the following.. The Companies Act 2006 The Charities SORP IFRS 1021 Approved by the 8oard of Directors on 16th May 2026 and slgned on Its behalf by: Maria Mccourt D4re¢tor Dale. 16 May 2025 Brassneck Theatre Company IA ¢ompany limited by guaranteè, not having a share capital) STATEMENT OF DIRECTORS, RESPONSIBILITIES lor the financial year ended 31 December 2024 The direclots a￿ ￿spOnsible fof preparing the finanaal statements in ac￿rdance with applicable law and regulations. Company law require5 the directors lo prepare financial slalemen15 for each financial year, Undef that law the directors have elected lo prepare the financial slalemenls in accordance with United Kingclom Generally Accepted Accounling Practice (United Kingdom Accounting Standards and applicable lawl induding FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A (Small Enliliesl. Under company law the al￿￿or$ musl not approve the finanual slalemenls unless they a￿ Satisfied that they give a true and fair view of the slate of affairs of Ihe company and of the surplus or deficit of the company for Ihal period. In preparing these financial slalements, the direclors are required lo.. select suitable accounting policies and apply them consislently., make iudgemenls and eslimales that are reasonable and prudent., slate whether the financial slalemenls have been prepared in accordance wrth the relevant financial reporting framework. identify those standards. and note the effect and the reasons for any material departure from those standards.. and prepare Ihe financial slalemenls on the going concern basis unless il is inappropnale lo presume Ihal the Company will continue in opeialion. The directors confirm that Ihey have complied with the above requirements in preparing Ihe financial statemenls. The direGlor$ are responsible lor keeping adequate a¢counling records that are sufficient lo show and explain the company's Iran$aclion$ and disclose wilh reasonable accuiacy at any lime the financial posilion of the company and enable them lo ensure that the financial slalemenls comply with. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps foi the prevention and detection of fraud and other irregularitie$ Approved by the Board of Dlrectors on 16th M•y 2025 and Signed on its behalf by: Marla Mccourt Director Dale.. 18 May 2025 Brassneck Theatre Company IA company Ilmlted by guaTanl¢e, not ha¥lng a $h•re ¢apitall INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF DIRECTORS OF BRASSNECK THEATRE COMPANY I report on the financial statements of Brassneck Theatre Company (or "the charity") for the financial year ended 31 December 2024, which comprise the Statement of Financial Activities. Ihe Balance Sheet, and the related notes. Respective responsibililies of directors and examiner As the charity directors you are responsible for the preparation of the accounts in accordance with the terms of the Companies Acl 2006. Having satisfied myself that Ihe charity is not subject lo audit under company law, and is eligible for independent examination. it is my responsibility to.. examine the accounts under section 65 of the Charities Act (Northern Ireland) 2008 {'the Chanties Act,) as amended by the Charities Act (Northern Ireland) 2022 where applicable- follow the procedure5 laid down in the general Difeclions 9iven by the Charity Commission for Northern Ireland under section 65{9){b) of the Charities Act, and state whether particular matters have come to my attenlion. Basis of Indgpendont examlngr'• report I have examined the charity accounts as required under section 65 of the Charities Act and my examination wa5 carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65{91{bl of the Charities Act. The examination included a review of Ihe accounting records kept by the charity and a comparison of the accounts presented wilh those records.11 also included consideration of any unusual items Of disclosures in the accounts and seeking explanations from you as charity Iruslees concerning any such matters. An independent examination does not involve gathering all the evidence that would be required in an audlt and consequently does not cover all the matters that an auditor considers in giving their opinion on the accounts. The planning and condud of an audit go beyond the limited assurance that an independent examinalion can provide. Consequently, l express no opinion as to whether the accounts present a 'lrue and fair view., and my report is limited lo those specific mallers sel out in the independenl examiner's slatemenl. My role is lo stale whether any material matters have come to rny attention giving me reasonable cause to believe., 1. That accounting records were not kept in accordance with section 63 of Ihe Charities Act (Northern Ireland) 2008 as amended by the Charitie5 Act (Northern Ireland) 2022 where applicable and section 388 of the Companies Act 2006., 2. That the accounts do not accord with those accounting records.. 3. That the accounts do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with Ihe methods and principles of the Slalemenl of Recommended PracliGe'. Accounting and Reporting by Charilies applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102).. and 4. That there is further information needed for a proper understanding of Ihe accounls lo be reached. Independent examlner'5 Statement I have completed my examination and have no concerns in respect of the matters (1) 10 (4) listed above and. in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no mallers that require drawing lo your attention. Mr Jonathan McNeill For and on behalf of PGR Chartered Accountants Unit 2 Channel Wharf 21 Old Channel Road Belfast. Co Antrim BT3 9DE Dated. Ir 10 Brassneck Theatre Company IA company limited by guaranteè, not having a sharé capital) Company Numbgr.. N1072517 STATEMENT OF FINANCIAL ACTIVITIES as al 31 December 2024 Unrestricted Restricted Funds Funds 2024 2024 Total Un￿$trI￿ed Restricted Funds Funds 2023 2023 Total 2024 2023 Notes Income Charitable activities Other income 87,644 30.637 164,013 11,195 241,657 41,732 63,080 18.725 175,093 238.173 18.725 Total incorne 118,181 165,208 283,389 81,805 175,093 256,898 Expend1￿re Chaiilable activities Other expenditure 4.161 5,105 256,842 18,314 260.993 23,419 2.842 4,326 218,337 16,868 221,179 21.194 Total Expendltur• 9,256 276.156 284,412 7,768 235.205 242.373 Net Incomellexpendlturel Transfers between lunds 108.926 111 $.$411 1109.948) 115,541 {1.023 74,637 156,612} (60,112) 56.612 14,525 Net movement in funds for the flnanclal year (6,6161 6.693 11,0231 18,025 13,500) 14,525 R•conciliation of lund$ Balances brought forward al 1 January 2024 18,133 110,160 128,293 108 113,660 113.768 8alan¢e• ¢arrSed foM•rd at 31 Decernber 2024 11,517 116,763 127,270 18,133 110,160 128.293 The Slalemenl of Financial Activities includes all gain5 and losses ￿cOgniSed in the financial year. All income and expenditure relate lo continuing aclivilie¥. The notes on payes 13 10 14 fom part of Ihe finanual slalemenls 11 Brassneck Theatre Company IA company limited by guarant8e, not h•vlng a share capitsll Company Number.. N1072S17 BALANCE SHEET as al 31 December 2023 2024 2023 Notes Fixed Assets Tangible assets 38,418 44,9C6 Current Assets Debtor5 Cash al bank and in hand 12,964 77,198 23,255 61,432 90,152 84,687 Creditorn.. Amounts falling duo within one year 11,3001 {1,3001 Net Current Assets 88,852 83,387 Totsl Ass8t$ l•s$ Current Llabllltles 127,270 128,293 Funds Restricted trust funds General lund lunreslricledl 11 5,753 11.517 110,160 18,133 Total fund• 127,270 128,293 These financial statements hava been prepared in accordance with the special piovisions relating lo small companie$ within Part 15 01 the Companies Acl 2006. For the financial year ended 31 December 2024 the company wa5 enlilled lo exemption from audit under section 477 of the Compan￿5 Act 2006,. and no notice ha8 been depositsd under section 476. The directors confim that the members have not required the company lo obtain an audit of 11$ financial slalemenls for the financial year in question in accordance with section 476 of Ihe Companies Act 2006. The directors 8cknowledge Iheif responsibilllies for en$uiin9 that the company keeps accounting iecords which comply with section 386 and for preparing finan¢ial Slalemenls which give a Irue and fair view of the slate of affairs ol the company as al the end of the financial year and ol ils profit and loss for the financial year in .accordance with the requ1￿mentS of sections 394 and 395 and which olherwise comply with the requ1￿mentS of the Companies Act 2006 relating lo financial slalemenls, $0 far as applicable lo the company. The finaneial slalemen15 have been prepared in accordance with the provisions applicable lo companies subject lo the small companies, iegime and in accordance with FRS 102"The Financial Reporting Standard applicable In the UK and Republic of Ireland" applying Section 1A ol that Standard. Approved by the Board of Dlrectorn and authorised for issue on 161b May.2025 and signed on its behalf by Maria Mccourt Director Tl* notes on pages 13 10 14 lorm part of the financial statements 12 Bras5neck Theatre Company IA ¢ompany limiied by guarant￿, not having a shar• capltall NOTES TO THE FINANCIAL STATEMENTS for the financial year ended 31 De￿rnber 2024 GENERAL INFORMATION Bras5neck Theatre Cornpany is a company limited by guarantee incorporated in Northern Irelan¢Y. Th& registered office of the company 1$ 2 Hannahslown Hill. Belfast Co Antrim, BT17 OLT, Northern Ireland which is also the pnncipal Pla￿ of business of the company The financial statements have been presented in Pound Sterling 1£) which is also Ihe functional currency of the company. Income Voluntary income or capital is included in the Sialement ol Financial Activities when the company is legally entitled lo it, it$ financial value Can be quantified with reasonable certainly and there 1$ reasonable certainly of its ultimate ￿Ceipt. Enlillement lo legacies 1$ considered established when the company has been notified of a distribution lo be rn3de by the executor5, Income received in advance ol due perfollnance under a contrad is a¢¢ounled for as deferred income until earned. Grants for activities are recogni5ed as income when the related conditions for legal enlillement have been rnet. All other income 15 accounted for on an accruafs basis. Unreslficled Income relates lo box office fee income and restricted income relates lo grant income. Expenditure All resources expended are accounted for on an aeKruafs basis. Charitable activities include costs of services and grants. 5UPPOrt costs and deprecialion on related as5els. Costs of generating funds similarly include fundraising aclivilies. Non-slaff costs not attributed lo one category of activity a￿ allocated or apportioned pro- rala lo the staffing ol the relevanl servir£, Finan¢e, HR. IT and adminislralive slaff costs are direclly alliibulable lo individual activities by objective. Governance ¢osl$ are those associated with conslilulional and slatulory qu1￿MentS. Tanglblè flxèd a$sets and depre¢iation Tangible fixed assets for the use of the ¢harily are capilalised il they can be ustd lor more than one year. and cost al least £500. They are slated al cost or al valuation. less accumulated depreciation. The charge to depfecialion is calculated lo write off the original Cost or valuation of tangible fixed a$sels, less Iheir eslimaled residual value, over their expected useful lives as lollows. Fixlui&s, fittings, and equiprnènl 20% Straight line Debtors Debtor$ are re¢ognised al Ihe selllemenl amount due after any discount offered. Prepaymenls are valued al the amount prepaid nel ol any trade discounts due. Income recognised by the company from government agencies and other co-funderg, but not yet received at year end, is included in debtors. Cash at bank and In hand Cash al bank and in hand comprises cash on deposit al banks requiring less than three months, notice ol withdrawal. Taxatlon and deferred taxation No ¢urrenl or defer￿d taxation arises as the company has been granted ¢hanlable exemption. Irrecoverable valued added lax is expensed as Incur￿d. INCOME CHARITABLE ACTIVITIES Unrestrlcted Restrlcted Funds Funds 2024 2023 Box olfice income lunreslricled} and grant income Ireslricted) 87,644 154.013 241.657 238.1.73 OTHER INCOME Unrestricted Restricted Funds Funds 2024 2023 Other income 30,537 11,196 41.732 18,725 13 Brassneck Theatre Company {A ¢ompany Ilmlled by guarantee, not having a share capital) NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 December 2024 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs 2024 2023 E¥penditure on charitable activities 229,168 J1,825 260.993 221,179 OTHER EXPENDITURE Direct Costs Other Cost8 Support Costs 2024 2023 Other expenditure 23,419 23.419 21.194 NET INCOME 2024 2023 Net Income •• stated after charglngl{credltlng): Depr8cialion of lan9ible assets 18.314 16,868 TANGIBLE FIXED ASSETS Flxtur••, flttings and equlpment Total Co•t At l January 2024 Additions 90,870 11,826 90,870 11,826 At 31 December 2024 102,696 102,696 Dtpre¢•ation Al 1 January 2024 Charge for the financial year 45,964 18,314 45,964 18,314 Al 31 December 2024 64,278 64,279 N•t book value Ai 31 December 2024 38,418 38,418 Al 31 December 2023 44,906 44,906 DEBTORS 2024 2023 Prepayments and accrued income 12,964 23,2SS CREDITORS Amounts falllng due within one year 2024 2023 Accruals and deferred income 1,300 1.300 14 Brassneck Theatre Company IA company limited by guaranteg. not having a share capital) NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 December 2024 FUNDS RECONCILIATION OF MOVEMENT IN FUNDS Unrestrlcled Restricted Funds Funds Total Funds Al 1 January 2023 Movement durin9 the financial year 108 18,025 113,660 13,5001 113,768 14.525 Al 31 Oecember 2023 Movement during the financial year 18,133 {6,616} 110,160 5,593 128.293 11,0231 Al 31 December 2024 11,517 115,753 127,270 ANALYSIS OF MOVEMENTS ON FUNOS Balance 1 January 2024 Income Expendlturo Trnn$fer$ Balance betweèn 31 December fund8 2024 Restricted funds Core Fund Youth Fund Projecis Fund Bursary Fund 19,005 90,603 69 483 37.455 15.039 65.672 36,088 1144,8101 153,375} {45,209} {20,8081 128,811 279 {1,156} 112.393) 40,461 52,546 19,376 3.370 110.160 154.254 1264,2021 115.541 115,753 Unrestricted funds General Fund 16,133 118.181 19,2561 {115.5411 11,517 Total funds 128,293 272.435 1273,468} 127,270 ANALYSIS OF NET ASSETS 8Y FUND Flxed a$set$ Curr•nt assets Current Ilabilities Total Reslri¢led trusl lunds 38.418 77,335 115,753 Unrestricted general funds 12,817 11,3001 11,517 Nel assets al 31 December 2024 38.418 90,152 11,300} 127,270 10. STA TUS The company is limited by guaranlee not having a share capital. The liability of the members is limited. Every member of the company undertakes lo contribute lo the assets of the company in the event ol ils being wound up while they are members, or within one year thereafter. for the payment of the debls and liabilities of the company contracted before they ceased lo be members. and the costs, charge5 and expenses of winding up, and for the adjuslmenl of the nghts of the conlribulors among themselves, such amount as may be required. not exceeding £1. 11. POST-BALANCE SHEET EVENTS The￿ have been no significant events affecting the company since the yearend. 15