Charlty Re9iStration No. NIC 105169 Company Registration No. N1037645 (Northern Ireland) NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP LEGAL AND ADMINISTRATIVE INFORMATION Trustees K McFarlane Mr P Campbell C Shields J Mccann Secretary C Shields Charfty number NIC 105169 Company number N1037645 Reg15tered office The Arc 7 Donegall Street Place Belfast Co. Antrim Northern Ireland BT1 2FN Independent exarniner FPM Accountants Limited 1 3 Arthur Street Belfast Co. Antrim Northern Ireland BT14GA
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP CONTENTS Page Trustees report 1- 13 ststement of Trustees responslbllitles 14 Independent examinerfs report 15- 16 ststement of financial activities 17 Balance sheet 18- 19 Notes to the financial statements 20-31
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 DECEMBER 2022 The Directors have pleasure in submitting their annual report together with the audited financial statements for the year ended 31 December 2022 for New Belfast Community Arts Initiative Va Community Arts Partnership {CAPI. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Igoverning documentl, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" ObJKtlves and activitiès New Belfast Community Arts Initiative is a company limited by guarantee whose objects are recognised as charitable by HM Revenue & Customs. New Belfast Community Arts Initiative trading as Va Community Arts Partnership is a registered charity (XR 365701 and a company lirnited by guarantee (Northern Ireland Nl 376451 and is registered with the Northern Ireland Charity Commission (NIC 1051691. Our Mission is To take the lead in the promotion, development and delivery of community arts practice, to affect positive change. Our vision is To see the emergence of a just, inclusive, peaceful and creative society, where difference 45 welcomed and participation is valued. We have a Mo-fold approach to arts development.. firstly supporting access and participation by seeking to affect policy through advocacy and leadership and secondly, promoting authorship and ownership through the active engagement in projects and programmes. We offer a platform for policy consultation and development whilst at the same time, develop new creative opportunities for artists, communities and individuals through: Art5 workshop programme Art5 workshop services Advocacy Information Research Platform5 for networking and sharing experiences Professional training Other initiatives to promote engagement
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR EIVDED 37 DECEMBER 2022 We design and implement projects across the region, and develop partnerships and networks at local, national and international level. Moreover, we provide information, research and professional training services for the whole community arts sector and assume a prominent role in advocating it. 37 group5 across 4 art form areas on our community programme 20 group5 on our inter-community programme 20 group5 places on our inter-ability Side by Side programme 54 schools place5 programmed on our Poetry in Motion in Schools programme 15 Poet in residence projects on our Poetry in Motion Community new pieces of public art in community intemational poetry salon 'Lit Up, over 5,500 workshop and event participants and 7,400 support responses made Community Arts Partnership continues to.. act as central point af contact for community arts sector provide an advocacy role for community arts sector provide an on-line digest of current news, issues and opportunities for the widest arts sector provide community arts weekly and monthly e-bulletin5 provide and grow research base for community arts in N Ireland a5S15t in funding clinics develop new international partners develop new regional partnerships provide fora for advocacy, advice and creative support to support engagement with the ArtsMatterNI campaign establish on-going local, national and intemational research and development programmes Advocacy Community Arts Partnership ICAPI is committed to fulfil a prominent advocacy role in N Ireland for community arts. We promote the profile and the ststus of the sector, and aim to inform policy and resource allocation decisions within public institutions. We advocate for the sector through.. contact with Government, councils, arts authorities. centres of learning, community groups, arts organisations and artists, healthcare organisations (both statutory and privatel fora for advocacy, learning and cultural development,. hosting and convening the Art5MatterNI campaign on behalf of the widest arts sector providing information and research about provision and positive impacts of community art5 on society, attending and hosting event5 providing opportunities for networking and sharing experiences,. public talks,. acting as a central point of contact for the community arts sector,. CEO continued his membership of the rninisterial Covid Recovery Ta5kforce CEO is member of N ICVA hosted Developing Governance Group along with third sector leaders CEO inducted into Oracle European Cultural Network
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Information services Community Arts Partnership gathers and disseminates information about / relevant to the community arts/ art5 sector with a focus on N Ireland. This information includes news, issues, initiatives and opportunities le.g. funding, training, worl volunteering). We achieve this via our Information Unit producing the weekly and the monthly e-news bulletins.. Both 9rew to over 4,200 weekly subscribers in year and total hits on the website within the calendar year grew to well over 12 million. Research Community Arts Partnership provides and grows a research base for community arts in N Ireland. We collaborate with other organisations in order to ensure that research is relevant to the sector, and complement and integrate existing research activities. Research papers have been produced and disseminated at local, national and international level. Platforms for networklng and sharlng experlences We already have a range of plans to or9anise a variety of initiatives focussing on community arts, including conferences and symposia in order to offer opportunities for networking, sharing experiences, facilitating and prompting debates. Local, national and international practitioners took part. Partnership Working We are committed to partnership working across all our services, as we believe in the synergy resLlting from this approach. We will value existing partnerships and seek new local, regional and international collaborations in community arts. Through our partnership work, we will develop projects and initiatives with community arts organisations, centres of learning and advococy groups in Ireland, Britain and beyond. The ARC The ARC - the Arts Resource Centre has been operational for 5 years, providing an accessible, safe and well- provisioned space for communitie5 and individuals to seek facilities to host and engage in creativity. CAP'S Arts Resource Centre IARCI connects many opportunities for the arts sector and communities of place and interest across the city of Belfast and beyond, spanning the whole of Northern Ireland and increasir¥J the capacity of community-based arts in so doing. Given the pandemic, our premises were underutilised and indeed we only maintained a skeleton staff in the premises, with the balance warking from home. Covid 19 In Community Art5 Partnership, we understand how important it is to work Safely and support our employees., facilitators, and participants, health and wellbeing during the COVID-19 pandemic and not contribute to the spread of the virus. We developed 4 layers of guidance with specific considerations for operations in a range of environment5, for a particular project and in the ARC workplace. We have a duty of care to workers, volunteers and non-professionals, to ensure as far as reasonably practicable they are not exposed to unnecessary risks to their health and safety. The measures adopted minirnised risks around working safely during COVID-19 and ensured that everyone was afforded the same level of protection to their health and safety as others. We developed a range of procedural initiatives to cope with the changing and demanding health environment including a strategy to navigate the pandemic upheaval,- RADAR= Respond - Adapt - Develop and Re-lmagine.. Significantly, CAP has already begun to position itself as an organisation looking to renewal through technology funding investment. The capital secured to date means that CAP will be able to deliver in a safer and more Covid-secure environment for participants and private hire to gather in small numbers, create and work together in the future and in the meantime, enhance our ability to offer a dynamic and profes5ionaP- digital engagement programme. We see this as critical to our maximising new and existing assets, as we build for the future, for our artists, facilitators and the communities they support.
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT {INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Whilst economic and health impacts of the COVID-19 pandemic have been far from symmetrical across all age groups, current evidence suggests that young people are less at-risk in terms of developing severe physical health symptoms linked to COVID-19 than older age cohorts IWHO, 20201. However, the disruption in their access to education and employment opportunities as a result of economic downturn is likely to put the young generation on a much more volatile trajectory, where their emotional resilience may have been severely undermined. Other age cohorts, like the elderly or those in nursing care, or indeed COVID-19 vulnerable groups such as BAME populations and the clinically extremely vulnerable ICEV) will qUIre greater levels of support. In the context of ageing population5, considerations about intergenerational solidarity and social justice will become increasingly prevalent and have already been bubbling up in creative policy making, long before the pandemic struck. These considerations are likely to gain further traction, as the repercussions of the pandemic and governments response to 1¢ unfold over the coming months and years. OECD evidence demonstrates that the pandemic has hit vulnerable groups disproportionately and is Ikely to exacerbate existing inequalities (see (OECD. 20201111, (OECD, 20201211 and IOECD, 2020131)). The imct of the crisis on young people and across different age cohorts, as well as It5 implications for energising intergenerational solidarity and justice is huge. Intersecting identity factors, such as sex, gender, race, ethnicity, and intellectual or physical disability, and socio-economic disadvantage may exacerbate the vulnerability of our communities to bounce back. For Community Arts Partnership, given the profile of our client organisations and participants, it will be all the more necessary to respond, adapt and reimèjine not only our internal organisational capacity, safety and focus, but our outward delivery processes and respond as advocates for our client communities of interest, age and place. Community Arts Partnership has been quick to respond to both the digital demands and the expert alilities within our sector, immediately switching to digital programming of 54 schools to take part in Poetry in Motion in Schools and another 15 writers groups across Northern Ireland to reconnect with their artform digitally through interactive workshops and masterclasses from August 2020. We have also supported 9 care homes and centres since April, through producin9 video presentations across visual arts, craft, movement and design. CAP has proven that in this Respond phase we can successfully engage using the digital rTEdia. The opportunity now is to build upon that in the next phase so that at a further horizon, we can r&imagine what the organisation can achieve. Indeed, our main funders also assisted in supporting the additional capital need to fully translate our programme into a digital delivery model. Whilst additional investment in equipment has been considerable, the pressures on revenue budgets became even greater given the additional time that all aspects of programme delivery incurred. Significant expenditure in this regard has led to a deficit that will need to be constantly monitored as we progress. The impact of the pandemic on the social, emotional and physical well-being of our community continued to be felt. CAP has always striven to support the most marginali5ed socio-economically within our community and has maintained and grown levels of support for our artist-facilitators, assisting in application development and work assignments across Nl.
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 3 1 DECEMBER 2022 Disruption The ongoing disruption in schools and community centres continued to affect aur children and vulnerable populations and has significantly changed how we all live, learn and create during the pandemic and perhaps beyond. Some of the innovative teaching and learning tools and delivery systems schools and teachers experimented with, in the response to the crisis, may have a long-lasting impact on education systems. We have also supported 9 care homes and centres through producing video presentations across visual arts, craft, movement and design, and engaging via online communications platforms. As the situation shifts from the unpredictability and frenetic activity of the early impact period to a more settled, though still uncomfortable, sense of uncertainty, CAP will endeavour to remain focused on the needs of our client groups and the wider sector. In order to do so, we require financial stabilisation and ongoing investment. The focus of CAPS RADAR plan has asslsted the organisation progress programmatically, shifting our focus to operational continuity to include embracing a return to a more broad series of diverse stakeholder engagements and outcomes, but the transition is still financially and operationally very demanding. Whilst we have had encouraging support from agencie5 and funder5, the challenge to support our creatives teams, staff and stakeholders is all the more difficult in the current funding environment The lack of a local Assembly continues to hamper access to monitoring rounds. We are developing new revenue streams through digital enterprise and business development. We will continue to enjoy the expanded role of digital engagement and factor that research into our engagement information and advocacy delivery. Managing Expectations Recovery will create anxiety among populations as the post-lockdown world takes shape. Understanding the fears that our community clients are grappling wItand how their expectations for personal and collective safety and security have changed, perhaps permanently-will be critical for our programme, to slowly restore confidence and reimagine a new path forward. Key Short Term Considerations.. Identifying immediate quick wins in maintaining services and connections across all projects and services Seeking emergency financial sUPPOrt Stabilising organi5ational viability
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Key Medium Term Considerations.. With continuing curtailment of face to face community creative activity of the past year, the organisation continues ta assess changes in client group behaviours and preferences. We have slowly reconnected with client organisations, albeit with enhanced new aspects of delivery and seNices through our extended digital capacity. We have grasped the new remote service delivery processes, which are oftentimes safer, more convenient and in some respects, less expensive given the back drop of increasing inflation on all aspects of programme delivery and operations. The inflation crisis has to some extent been mitigated by shifting area5 of programming to digital platforms, but operational costs of heating, lighting, etc, continue to increase at worrying levels. Alignment of key revenue generation continues to demand some resetting of expectations and development of business development strategy, especially looking at advanced use of digital sales via website, paid for online performances and events, physically safe in house perforrnances workshops and roundtables. The critical ongoing consideration remains to be the suffi'clency of funding and revenue to maintain delivery and operations during recovery over the next 12 to 24 months. Staying alert to these external force5 and expanding the board of trustees for counsel and advice will remain critical to ongoing SU5tainability. With the pace of change accelerating in technology, putting the organi5ation on a path to constant and ever-growing investment in digital, new patterns of working practice are emerging, however we are seeing a blending of remote and face-to-face working to avoid tech dependency. We continue to prioritise digital investments and processes of delivery. The ARC - our HQ has seen lots of change but we believe that at some point, given the uptick in face to face working, that pre-pandemic levels of creative and performance space rentals will recover. CAP'S project work represents the most extensive community-based and sectoral leading suite of services for community groups, professional and voluntary organisations to engage in culturally democratic artistic disciplines, facilitated by artists, created by participants and celebrated by community. We endeavour to redouble our efforts in this regard. We ask that our funders continue to have confidence in CAP and trust us to continue to offer pragmatic, timely and sensitive leadership to community art5 professional, participants and commissioners and a50 the wider creative and indeed voluntary Sector.
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 37 DECEMBER 2022 Governance & Management Structure New Belfast Community Arts Initiative was established in 1999 as a company limited by guarantee registered in Northern Ireland Nl 37645 with a Memorandum & Articles of Association, amended in June 2011, whose object5 have been recogni5ed a5 charitable by HM Revenue & Customs under reference XR 36570. From July 2011, New Belfast Community Arts Initiative adopted the identity Community Arts Partnership lie tradng as), registered with HMRC. Management Committee. Trustees: The Management Committee is collectively responsible for setting the strategic aims and objective5 of the organisation,. shaping and determining the organisation's policies and policy direction in order to ensure it fulfils its charitable objects., ensuring accountability to members and key stakeholders,. delivering good governance and ensuring compliance with all legal requirements and financial regulations in accordance with Charity and Company Law. Responsibilities: Vlslon and Leadership To be committed to the vision, mission and values of Community Arts Partnership. To provide Strategic directiorb for the new organi5ation, including agreeing/reviewing strategic plans. To keep informed of the activities of the organisation and the wider issues that affect its work. To ensure appropriate risk management strategies are established and implemented. To ensure the work of the organisation is monitored and evaluated. To ensure the governance of the organi5ation adheres to the principles set out in the Code of Good Governance for the Voluntary & Community Sector in Nl. Accountability To ensure the organisation complies wilh its Memorandum and Articles of Association (Constitution) To ensure the organisation keeps to the law, including charity and company1aw. To ensure the organisation is a responsible employer and adheres to legislation. To ensure the organisatien make5 efficient use of resources, in particular that all monies are applied to its object5, agreed plans and budgets. Flnancial Oversight To understand the financial position of the organisation. To ensure the appropriate financial controls are implemented and the finances are properly managed. To ensure adequate financial resources are in place for the organisation. To ensure the organi5ation is properly insured against all reasonable liabilities.
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Meetings of the Board of TrusteÈs/Management Committee Full Management Committee meetings take place quarterly A Sub-committee, the Finance and General Purposes Committee IF&GPI is made up of Chair, Vice- Chair and Treasurer and is attended by the Director/Company Secretary. Meetings take place every 4/5 weeks and report to the subsequent Full Management Committee meeting The agenda for Full Management Committee meetings will focus on e.g.: matters arising from the last meeting and interim F&GP meetings,. current Issues., plans for the future., proposed policy changes,. review of progress in various areas,. monitoringlreview against operational objertive5 and Strategic plan,. financial reports,. project reports,. and other reports from the Director Any Trustee may request, through the Chairperson, that a particular item be put on the agenda. If a Trustee is absent from three consecutive meetings without apologies they may be deemed by the Board as ceasing to hold office. The Director/Company Secretary attends the meetings and gives information, advice and the view of the Staff Team. The Director is accountable to the Management Committee through the Chairperson. Other staff members are eligible to attend the meetings as follows.. at the request of the Director/Company Secretary,. at the request of the Management Committee,. where a staff member makes a formal request to the Management Committee to attend a meeting and that request is granted. A maximum of 12 trustees can be appointed. In 2020 we had 3 plus a company Secretary. Qualities and Skills Preferred. Strong interest in community arts. Live and share the values of the Community Arts Partnership Good leadership ski115 and a track record of having operated at a strategic level. Awareness of voluntary & community sector. Previous experience of management committee work. Excellent communication and interpersonal skills. Impartiality, fairness and the ability to respect confidences Good grasp of policy and funding i55ues Excellent technical skills Day to day operational management is delegated to Conor Shields, Chief Executive and Company Secrdary of New Belfast Community Arts Initiative trading as Community Arts Partnership, who is responsible for operational financial managernent under the direction of the Management Committee approved budget. As of December 2020 personnel cornprised Gordon Hewitt as Information and Policy Manager. Furthermore there is a project team of freelance project contractors, a web51te/publications co-ordinator and over 200 artist placements, also on a freelance contracted ba5iS.
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Risk Assessrnent Community Arts Partnership defines risk a5 the threat that an action or event will adversely affect its ability to achieve its current and future objectives through various areas/activities'. governance,. operations,. finances,. environmental or external factors such as public opinion or relationship with funders.. compliance with law or regulation The identification and management of risks affecting Community Arts Partnership ability to achieve its objectives are key responsibilities of all employees and committee members. The effective management of risk is an important means by which Community Arts Partnership achieves its goals. To that end, Community Arts Partnership's policy is to.. maintain and regulorly review a central risk register manage risk actively across the full scope of CAP operations c. ensure each member of staff is aware of his or her responsibility integrate risk management with planning and budgeting to ensure that risk is taken fully into account in all aspects of Community Arts Partnership strategic and operational business develop an understanding of a risk-aware approach to working f. provide and maintain guidance on the techniques of risk assessment and risk management monitor and report regularly and frequently to the board on the management of risk and keep policy and practice under review Individual projects are subjert to an individual assessment process through which co-ordinators and facilitators meet with participant5 to explore issues. References are sought for all new staff and other personnel and in the event of project work involving young people or vulnerable adults, clearance checks are undertaken through the Access Nl system, as registered body. CAP also operates policies and procedures in these areas: COVID19 Child and Vulnerable Adult Protection (as an AccessNI accredited Registered Body) Environmental Equal Opportunities Expenses Health and Safety Risk including data protection Financial Probity Ethical Funding
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Related Bodies CAP'S Chief Executive, Conor Shields was appointed to the Ministerial Culture Arts and Heritage Recovery Taskforce to assist in the ongoing rehabilitation of the sector in turbulent times. CAP has representative on the Belfast Visual Arts, Forum and Belfast Festivals, Forum, hosted by Pelfast City Council. CAP'S CEO has accepted the invitation to join the pan-European Oracle Network, administrated by the Marcel Hicter Foundation in Brussels. CAP has always enjoyed a close working relationship with its principal funder the Arts Council of Northern Ireland and indeed the governing department, Dfc (Dept for Communities). Disclosure of Informatlon to Independent Exarnlners The Trustees who held office at the date of approval of this trustees, report confirm that, 50 far as they are each aware, there is no relevant information of which the Charitable Company's independent examiners are unaware,. and each Trustee has taken all the steps they ought to have taken as a trustee to make themselves aware of any relevant information and to establish that the Charitable Compariy's independent examiners are aware of that information. Statement of Trustee's Responsibililies Company and charity law requires the trustees to prepare financial statements for each financial period which give a true and fair view of the state of affairs of the charity and of its financial position at the end of that period In preparing these financial statements, the trustees are required to.. select suitable accounting policies and apply them consi5tently,' make judgements and estimates that are reasonable and prudent,. state whether applicable accounting standards have been followed subject to any departures disclosed and explained in the financial statements,. and prepare the financial statements on the going concern basi5 unless It is inappropriate to presume that the charity will continue in operation. The trustees have overall responsibility for ensuring that the charity has an appropriate system of internal controls, financial and otherwise. They are also responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and to enable trn to ensure that the financial statements comply with the Companies Art 2006. They are also responsible for safeguarding the assets of the charity and hence *or taking reasonable steps for the prevention and detection of fraud and other irregularities. 10-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR EIVDED 31 DECEMBER 2022 Flnancial review Financial Review The Ststement of Financial Activitie5 describes New Belfast Community Arts Initiative trading as Community Arts Partnership'5 income, expenditure and funds for the year. The Income of £281,386 was slightly y on the previous year. Overall expenditure showed some staffing increases on the previous year. This ref lects the further displacements due to our response to Covid-19. Such a deficit will require very c105e monitoring in the immediate and medium term, although cash at hand rernains sufficient to assuage any trading risk. The year reflected the ongoing pattern of programming across the year and the region. Income received was split between restricted income Imostly grants from Northern Ireland based funders) of £224,292 and unrestricted income to support areas, including funds designated to programme delivery, of £57,094 with £19,285 in social economy project work, signalling a clear improvement in operatin9 conditions. Our principal funder, the Arts Council of Northern Ireland, contributed £175,953 through a range of exchequer and project funding. Belfast City Council continued £29,000 to contribute Core Multi-Annual Funding and project support. The Department of Foreign Affairs in Dublin also contributed £25,339, the majority of which had been deferred until this year given difficulties with Covid-19. This funding is to expand Poetry in Motion Schools into the Republic of Ireland. CAP a150 received significant capital investment for equipment. Reserrfes Contingent liability is always af concern.. CAP has 3 permanent employees and 6 part time freelance co- ordinators. This presents an additional contingent liability in terms of potential redundancy approaching over £60,000. Suggested best practice around the retention of reserves by ACEVO and indeed NICVA is 314 months turnover, which in our case amounts to c. £75,OOO+. At this time, we have no significant pengon liabilities to report. However, we currently do not command adequate fund reserves to miti9ate our contingent liabilities and the organisation is struggling to augment its ability to fund these financial risks and indeed a range of risks that cannot be foreseen, as has been highlighted by the impact of the global pandemic on our day to day working. 11
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Public Benefit New Belfast Community Arts Initiative Va Community Arts Partnership identifies its charitable objerts as.. (11 to advance public education and stimulate and educate interest in the Arts for the benefit ol the public and communities in N Ireland and elsewhere Ithe "area of benefit"), particularly but not exclusively, by any or all of the following means.. (a) promoting, organising and publici5ing cultural and arts activities, events, performances, workshops, initiatives and exhibitions,. Ibl encouragin9 appreciation for and the participation in community arts and the creative art5 by people in the area of benefit through the provision of information, publications, advice, support, training and facilities Icl providing advocacy on behalf of the arts sector, particularly relating to community arts 12} To advance community development by engaging with and assisting such groups and organisations, that have a genuine interest in furthering the Objects of the Charity, to organise and participate in cultural and arts projects and initiatives. 131 The provision of facilities and amenities for recreation and other leisure-time occupation within N Ireland with the object of improving the conditions of life of members of the public having need of such facilities by reasons of their age, sex, youth, disabilities, poverty and social and economic circumstances. (41 To promote such other charitable purpose5 as may from time to time be determined. All the charity's assets are used for charitable purposes in support of these objects. Board/Management Committee members do not receive any monetary benefit for their role in governing the charity. In tP event of any winding up of the charity its remaining assets shall be transferred to another charitable body with similar objects via cy pres. We strive to offer all seNices free at the point of contact. Futur• Development We will continue to grow and support current and new initiatives including local, national and international symposia, progress local strategy development around community arts practice, advocate for better processes for cultural producers and develop new training and support programmes for artists and communities and with developing our regional Workshop and project offering. 12-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Structure. governance and management K McFarlane Mr P Campbell C Shields J Mccann Approval This report was approved by the Directors and signed on their behalf. ields Company Secretary Dated: ..... 2Q.,.?. 2 023 13-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP STATEMENT OF TRUSTEES RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2022 The Trustees, who are also the directors of New Belfast Community Arts Initiative Trading as Community Arts Partnership for the purpose of company law, are responsible for preparing the Trustees Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice}. Company Law requires the Trustees to prepare financial statements for each financial year which give a tnje and fair view of the stste of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statements, the Trustees are required to: select suitable accounting policies and then apply them consistently,. obseNe the methods and principles in the Charities SORP,. make judgements and estimates that are reasonable and pnJdenL' and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statéTnents comply with the Companies Act 2006. They are also responsible for safeguarding the asset5 of the charity and hence for taking reasonable step5 for the prevention and detection of fraud and other irregularitie& 14-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP report to the Trustees on my examination of the financial statements of New Belfast Community Arts Initiative Trading as Communlty Arts Partnership (the charity) for the year ended 31 December 2022. Responsibilities and basis of report As the Trustees of the charity land also its directors for the purposes of company lawl you are rsponsible for the preparation of the financial 5tstements in accordance with the requirements of the Companies Act 2006 (the 2006 Artl. Having satisfied myself that the financial statements of the charity are not required to be audit&l under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's financial statements carried out under section 65 of the Charities Act INorthern Ireland) 2008 (the 2008 Act). In carrying out my examination I have followed all the applicable Dirertions given by the Charity Commission under section 6519)Ibl of the 2008 Act. Independent examinerfs rtatement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 65 of the 2008 Act. I confirm that l am qualified to undertake the examination because l am a member of , which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connecticn with the examination giving me cause to believe that in any material respect: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Actr, or the financial statements do not accord with those records., or 15-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP INDEPENDENT EXAMINER'S REPORT {CONTINUED) TO THE TRUSTEES OF NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP the financial statements do not comply with the accounting requirements of section 396 of the 2006 Art other than any requirement that the accounts give a twe and fair view whlch Is not a matter considered as part of an independent examination,. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reportin9 Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. Lowry Grant FCCA For, and on behalf of, FPM Accountants Llmlted Chartered Accountant5 ststutory Auditors 1 3 Arthur Street Belfast Co. Antrim BT1 4GA Northern Ireland Dated: ......................... 16-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2022 Unrestricted Restricted funds funds 2022 2022 Totsl Unrestricted funds 2021 Restricted funds 2021 Total 2022 2021 Notes Income from: Donations and legacies Charitsble activities 329 56,765 204,953 19,339 205,282 76,104 227 44,794 238,999 239,226 44,794 Totsl Income 57,094 224,292 281,386 45,021 238,999 284.020 enditure on: Charitable activities 66,545 236,044 302,589 71,998 268,117 340,115 Net expenditure for the year/ Net movement in funds 19,451) 111,752) (21,203) {26,9771 129,1181 156,095) Fund balances at 1 January 2022 64,406 15,935 80,341 91,383 45,053 136,436 Fund balances at 31 December 2022 54,955 4,183 59,138 64,406 15,935 80,341 The ststement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The statement of financial activities also complies with the requirement5 for an income and expenditure account under the Companies Act 2006. 17-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP BALANCE SHEET AS A T 31 DECEMBER 2022 2022 2021 Notes Fixed assets Tangible assets Current assets Debtors Cash at bank and in hand 14,547 26,215 10 9,570 42,780 9,533 70,931 52,350 80,464 Creditors: amounts falling due within one year 12 17,7591 126,338} Net current assets 44,591 54,126 Total assets less curr•nt liabilltl•s 59,138 80.341 Income funds Restricted funds Unrestricted funds 13 4,183 54,955 15,935 64,406 59,138 80,341 18-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP BALANCE SHEET (CONTINUED) AS A T 31 DECEMBER 2022 The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 December 2022. The Trustees responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Companies Act 2006 and for preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to accounts, so far as applicable to the company. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies Subject to the small companie5 regime. The financial statements were approved by the Trustees on 2f/ 7/ 2023 hn Mccann Trustee Mr Conor Shield5 Secretsry Company Registration No. N1037645 19-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies Charity information New Belfast Community Arts Initiative Trading as Community Arts Partnership is a private company limited by guarantee incorporated in Northern Ireland. The registered office is The Ara 7 Donegall Street Pla, Belfas¢ Co. Antrim, BT1 2FN, Northem Ireland. 1.1 Accountlng convention The financial statements have been prepared in accordance with the charity's Igoverning documentl, the Companies Act 2006 and "Accounting and Reporting by Charities.. Statement of Recommended Practice pplicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191" The charity is a Public Benefit Entity as defined by FRS 102. The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statement5 have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below. 1.2 Going concern At the time of approving the financial statements, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial Statements. The Trustees have considered this in the knowledge that on the 30th January, the World Health Organisation IWHOI announced Coronavirus as a global health emergency and on the 11th March 2020, it announced that Coronavirus was a global pandemic. 1.3 Charitable funds Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted fund5 are Set out in the note5 to the financial statements. Endowment funds are Subject to specific conditions by donors that the capital must be maintained by the charity. -20-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies (Continued) 1.4 Income Income is recognised when the charity is legally entitled to it after any perfomance conditions hwe been mel the amounts can be measured reliably, and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Legacies are recognised on receipt or otherwise if the charity ha5 been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy treated as a contingent asset. 1.5 Expenditure Expenditure is recognised once there is a legal or constnjctive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Expenditure on charitable activities includes the costs of supporting refugee familie5 and activities undertaken to further the purposes of the charity and their associated support costs,. Other expenditure represents those items not falling into any other heading. Irrecoverable VAT is charged as a c05t against the activity for which the expenditure was incurred. 1.6 Tangible fixed assets Tangible fixed a55ets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment1055es. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Office Equipment Fixture5 and fittings Computer Equipment Music Equipment 20% Straight Line 20% Reducing Balance 33% Straight Line 33% Straight Line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset and is recognised in net income/(expenditLJre) for the year. 21
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies (Continued) 1.7 Impaimient of fixed assets At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturitie5 of three months or le55, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Financial instruments The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial I nstruments Issues, of FRS 102 to all of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 88C financial assets Basic financial a55ets, which include debtors and cash and bank balances, are initially measured at transartion price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measLJred at the present value of the future receipts discounted at a market rate of nterest. Financial a55ets classified as receivable within one year are not amortised. Inancial liabilities Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measvred at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment Is due within one year or less. If not, they are presented as non-current liabilitie5. Trade creditor5 are recognised initially at transaction price ond subsequently measured at amort15ed c05t using the effective interpst method. -22-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Accounting policies (Continued) Derecognition ol Inancial liabilltses Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled, 1.10 Employee beneflts The cost of any unused holiday entitlement is recognised in the period in which the employee's seNices are received. Temiination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the ernployment of an employee or to provide termination benefits. 1.1 l Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. Critical accounting estimates and judgements In the application of the charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other Sources. The estimates and associated assumptions are based or) historical experience and other factors that are considered to be relevant. Actual result5 may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Donations and legacles Unrestrlded Restrirted funds funds Total Unrestricted funds Restricted funds Total 2022 2022 2022 2021 2021 2021 Donations and gifts Grant Income 329 329 204,953 227 227 238.999 204.953 238,999 329 204,953 205,282 227 238,999 239,226 -23-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIVDED 31 DECEMBER 2022 Donations and legacie5 (Continued) Grants receivable for core activities Belfast City Council Arts Council Northem Ireland- Core Arts Council Northem Ireland Covid Arts Council Northem Ireland - Equiptment Grant Other 29,000 29,000 29,000 29,000 175,953 175,953 131,964 131,964 48,298 48,298 8,460 21,277 8,460 21,277 204,953 204,953 238,999 238,999 -24-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Charitable activities Unrestrlcted Funds 2022 Restrkted Funds 2022 Totsl Unrestrlcted 2022 Funds 2021 Social Econorny Sponsorships Grant Income 19,285 19,285 8,207 300 36,287 37,480 19,339 56,819 56,765 19,339 76,104 44.794 Analysis by fijnd Unrestricted funds Restricted funds 56,765 56,765 19,339 44.794 19,339 56,765 19,339 76,104 44.794 Performance related giants Arts Council Nl Covid Grant Belfast City Council Project Department of Foreign Affairs Community Foundation for Nl Covid Grant Other 27,945 27,945 27,419 4,000 19,339 19,339 3,913 955 9,535 9,535 37,480 19,339 56.819 36,287 -25-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIVDED 37 DECEMBER a722 Charitable artivities Unrestrlcted Restricted Funds Funds 2022 2022 Total Unrestrfcted Restrlcted 2022 Funds Funds 2021 2021 Total 2021 Staff costs Programme Cost5 Hire of Equipment General Expenses Refund 124,509 83,994 124,509 90,576 450 558 24,833 45,664 72,845 98,891 97.678 144.555 6,582 450 558 894 4.701 894 4.701 7,590 208,503 216,093 70,497 177,331 247,828 Share of support costs (see note 6) Share of govemance costs {see note 6) 30,647 51,486 82,133 1,501 88,236 89,737 363 4,000 4,363 2.550 2,550 38,600 263,989 302,589 71,998 268,117 340,115 Analysls by fund Unrestricted funds Restricted funds 66,545 {27,9451 66.545 236,044 71,998 71,998 268,117 263,989 268,117 38,600 263.989 302.589 71,998 268,117 340,115 -26-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 Support costs Support Governance costs costs 2022 Support Goverr)ance costs costs 2021 Depreciation Premises Expenses Office Expenses Travel Expenses Insurance Costs Finance Charges Subscriptions Marketing Staff Expenses General Expenses 11,667 34,220 26,076 5,726 3,220 452 11,667 34,220 26,076 5,726 3,220 452 190 1S2 10,116 41,514 23,713 5,653 3,566 271 279 593 4,032 10,116 41,514 23,713 5,653 3,566 271 279 593 4,032 152 430 430 Accountancy fees Legal and professional 4,020 343 4,020 343 2,400 150 2,400 150 82,133 4,363 86,496 89,737 2,550 92,287 Analysed beeen Charitsble activities 82,133 4,363 86,496 89,737 2,550 92,287 Govemance costs includes payments to the independent examiners of £4,020 12021- £2,400) for independent examination fees. Trustees None of the Trustees (or any persons connecLed with them) received any remuneration or benefits from the charity during the year. Employees The average monthly number of employees during the year was.. 2022 Number 2021 Number Employment cost5 2022 2021
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIVDED 31 DECEMBER 2022 Employees (Continued) Wages and salaries Social security costs Other pension costs 76,446 39,409 8,654 64,542 24,546 8,590 124,509 97,678 No employees received remuneration of greater than £60,000 in the year. Tanglble fixed issets Offic• Flxtur•s and qulpment flttings Comput•r Equlpm•nt Muslc Equlpm•nt Totsl Cost At l January 2022 1,129 3,260 53.436 990 58,815 At 31 December 2022 1,129 3,260 53,436 990 58,815 Depreclatlon and impairnient At 1 January 2022 DepreciatiorTr charged in the year 824 226 2,191 214 28,595 11,228 990 32,600 11,668 At 31 December 2022 1,050 2,405 39,823 990 44,268 Carrylng amount At 31 December 2022 79 855 13,613 14,547 At 31 December 2021 305 1,069 24,841 26,215 10 Debtors 2022 2021 Amounts falling due within one year Other debtors Prepayments and accrued income 7,250 2,320 7,250 2,283 9,570 9.533 -28-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR EIVDED 31 DECEMBER 2022 1 l Loans and overdrafts 2022 2021 Bank overdrafts 158 Payable within one year 158 12 Credltor& amounts falllng due wlthln one year 2022 2021 Notss Bank overdrafts Other taxation and Social security Deferred income Trade creditors Accruals 11 158 2,801 2,199 19,339 2,400 2,400 2,400 2,400 7,759 26,338 -29-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022 13 Restricted funds The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes: Movement in funds Incoming R)UrCeS r•sourcès expndad Movement in funds Incoming Resources Balance at restsurces expended 31 December 2022 Bjlance •t 1 January 2021 Balanco at 1 January 2022 ACNI Programme ACNI Core ACNI Equipment Belfast City Council social Enterprise Covid Grant The Community Foundation Brilliant Resilience Belfast City Council- Covid Equiptment Grant Department of Foreign Affairs 48,298 131,964 (48,2981 (131,964) 175,953 (175,9531 835 8,460 (3,6301 5,665 {5,6651 7,250 29,000 136,2501 29,000 129,0001 21,870 (21,8701 15,098 (15,098) 15,2TI 15,0921 10,185 (6,002) 4,183 6,000 (5,915) 85 19,339 (19,424} 45,053 238,999 (268,117) 15,935 224,292 (236,044) 4,183 30-
NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 37 DECEMBER 2022 14 Analysis of nèt assets between funds Unrestricted Restricted Funds Funds 2022 2022 Total Unrestricted Funds 2021 Restricted Funds 2021 Total 2022 2021 Fund balances at 31 December 2022 are represented by. Tangible assets Current assetsllliabilities) 10,364 44,591 4,183 14,547 44,591 10,365 54,041 15,850 85 26,215 54,126 54,955 4,183 59,138 64,406 15,935 80,341 15 Operating lease commitments At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows.. 2022 2021 Within one year Beteen two and five years 25,610 6,623 25,610 6,623 32,233 32,233 16 Related party transactlons There were no disclosable related paty transactions during the year (2021 none). 31