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 I report to the Trustees on my examinatioi of the financial statements of New Belfast Community Arc5 Initiative Trading as Comrnunity Art5 Partnership (the charity) for the year ended 31 December 2022. Responsibilities and basis of report As the Trustees of the charity land also it5 directors fur the purposes of company lawl yvu are r&pon5ible for the preparation of the finaiicial 51aleiMeiils in acc.nrdance with the requirement5 of tlie Companies Act 2006 Iilie 2006 Act), Having satisfied myself that the financial statements of the charity are not required to be audit￿ under Part 16 of the 2006 Act and are eligible for independent examination, I report iri respect of my exarnination of the charity's financ,'al statements carried out under section 65 of the Charities Ac.t (Northern Irelandl 2008 (the 2008 Act). In carrying out my examina'.ion I have followed all the applicable Directions given by the Charity Commission under section 6519llbl of the 2008 Act, I ndependent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a bociy listed in section 65 of tne 2008 Act. I confirm that l am qualified to undertake the examination because l am a member of , which is one * tbie listed boules. I have completed my examination. I confirm that no matters have come to my attention in connecticn with the examination giving rne cause to believe that in any material respect.. accounti ng record5 were not kept in respect of the charity as required by section 386 of the 2006 Act,. or the fi nancial 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 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination,. or the financial slatement5 have not been prepared in accordance with the methods and princip5e5 of the Staten)eiit of Recoirmended Practice for accounting drid reporting by charities applicable to charities preparing their accounts in accordan¢.p with the Financial Re.porting Standard applicable in the UK and Republic. of Ireland IFRS 1021. I have no concerns and have come across no other matters in connection with the examination to whicli atterition should be drawn in this report in order to enable a proper understanding of the financial statements to be reache.d. Lowry Grant FCCA For, and on behalf of, FPM Accountants Limited Chartered Accountant5 statutory Auditors 1 3 Arthur Street Belfast Co. Antrim 8T1 4GA Northern Ireland Da',ed.. NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 3 1 DECEMBER 2022 Unrestricted Restricted f unds funds 2022 2022 Total Unrestricted funds 2021 Restricted funds 2021 Total 2022 2021 Notes Income from: Donations and legacies Charitable aclivilie5 329 56,765 204,953 19,339 205,282 76,104 227 238,999 239,226 44,794 44,794 Total incorne 57,094 224.292 281,386 45,021 238,999 284,020 Ex endlture on: Charitable activities 66,545 236,044 302,589 71,998 268,117 340,115 Net expenditure for the year/ Net movement in funds 19,4511 111,7521 121,2031 126,9771 129,1181 156,0951 Fund balarTrces at 1 January 2022 64,406 15,935 80,341 91,383 45,a53 136,436 Fund balances at 31 December 2022 54,955 4,183 59,138 64,406 15,935 80,341 The statement of fi nancial 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 requirements tor an income and expenditure account under the Companies Act 2006. NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP BALANCE SHEET AS A T 3 IDECEMBER 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.. amount5 falling due within one year 12 17,7591 126,3381 Net current a55et5 44,591 54,126 Total a55ets less curront liabillties 59,138 80,341 Income f unds Restricted funds Unrestricted funds 4,183 54,955 15,935 64,406 59,138 80,341 NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP BALANCE SHEET (CONTINUED) AS A T 37 DECEMBER 2022 The company is entitled to the exemption from the audit requirement contained in section 477 uf the Companies Act 2006, for the year ended 31 December 2022. The Trustees Te5ponsibilitie5 for ensuring that the charity keeps accounting records which comply with section 386 Df the Companies Act 2006 and for preparing arcounts which give a true and fair view of the state of affzirs of the company as at the end of the financial year Bnd of its incoming resources and application of resources, including its income and expenditure, for the financial year iri dccordance with the requirements of sections 394 and 395 and which othewi£e comply with the requirements of the Companies Act 2Q06 relating to 3ccount5, $0 far as applicable to the compa ny. 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. Thege financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companie5 regime. The financial 5tatement5 were approved by the Trustees on 2ff/7/ 2023 hn Mccann Trustee Mr Conor Shields Secretary Company Registration No. N1037645 19- NEW BELFAST COMMUNITY ARTS INITIATIVE TRADING AS COMMUNITY ARTS PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR EIVDED 37 DECEMBER 2022 Accounting policies Charity information New Belfast Community Arts Initiative Trading as Community Arts Partnership is a private company l imited by guarantee incorporated in Northerri I reland. The registered office is The Arc, 7 Donegall Street Place, Belfast, Co. Antrim, BT1 2FN, Northern 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 Charitie5.' Sidtement of Recommended Practice applicable to charities preparing their account5 in accordancc with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191 The charity is a PLJblic Benefit Entity as defined by FRS 102. The c.harity has taken advantage of the provisinns in the SORP for charities applying FRS 102 Updfite Bulletin 1 not to prepare a Statement of Cash Flows. Thc financial statements are prepared in sterl ing, which 15 thc func.tic)nal currency of the charity. Monctary amounts in these financial Statements are rounded to the nearest £. The financial statements have been prepared up,der 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 tl)e time of approving the financial statements, the Trustees have a reasonable expectation that tlie charity has adequate resources to continue in uperational existence for the foreseeable future. Thus the Trustees continue to odopt the going concern basis t)f ac.counting in preparing the financial statements. The Tru5tee5 have considered this in the knowlecge that on the 30th Jarluary, the World Health Or9anisation IWHOI announced Coronavirus as a gloi)31 health emergency and on the I Ith March 2020, it announced that Coronavirus was a global pandemic. 1.3 Charitable funds Unrestricted funds are available for use at the discre lion of the Trustees in furtherance of their charitable objectives. Restricted funds are subject to specific conditlOn5 by dorior5 as to how they may be used. The purposes and uses of the restricted funds are Set out in the notes 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 Atcounting policies (Continued) 1.4 Income Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it 15 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 donalivns received under Gift Aid or deeds of covenant is recogni5ed 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 arTiount is not known, the legacy s treated as a contingent asset. 1.5 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo make a payment to a third Paty, 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 cliariti4ble activities includes the costs of supporting refL5gee fi4rriilies 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 cliarged