Charfty reoi6trakn number NIC 105189 Cornpany reglgtrallon N1037645 (Northem IIEland) NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
EW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) LEGAL AND ADMINISTRATIVE INFORMATION Tiitses Mr8 K McFarfane Mr P Campb811 Mr J Mccam sécrétwy Mr C Slilalts Chlty nbar NIC 105169 Company number N1037845 Reghtered offlco The 7 Donffjdl Street Place Betfa8t Co. Nntrlm Nth Iraland BT12FN Irty wmlnor AAB Group Accowtants Llmlted 1- 3 Arthw Streat Belfa8t Co. hntrlm Nthern Ireland 8T14GA Banker8 Ul8tw 8ank 11-18 Dor1 Sq Ea8t 8elta8t 8T16UB
tJEW BELFAST COMMUNITY ARTS INITIATIVE (IRADING AS COMMUNITY ARTS PARTNERSHIP) GoTrrrENTS statsment OfThe Trusts89 f•FKYt Ind8pondent ex8mlnaf8 report Statement of fina191 acUvMes 10 Balance 8h8at 11-12 Not&4 to the financbal 8tatemant8 13-25
EW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) STATEMENT OF THE TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 The DireGlcKs have PaSure in SubmItti their annual reporttogelher vllh Ihe financlal statements for the year ended 31 December 2(r23. The lInarla1 Statements have been prepared In accoftknce Mrfth th8 &cntIng p1cleS set out In note 1 to the financlal ststements and comply wlth the goverrlng d(wmen( the Comp8nl8s Act 26 and 'ACCotIng aTrJ Repoffjng by Charflles: Statement of Recommerkd Practlce appllcable to charflles preparing their accounts In aordance wlth tha Financial Reporting Standard applicable In the UK arKI Republlc of Ireland (FRS 102). (effecljve 1 JanUY 2019). Oblecllves and acllvlues New B8lfast ComMuty Arls Initiailve18 a company Ilmlted by guarantée wh08e objects ar8 r8coan18ed as charftable by HM Revenue & Cu8tom8. New 86lfa8t Communlty AJts InlUalJv8 tradlng as Communlty Arts Partn8rshlp 18 a reg18tered chartty (XR 38570> and a company Ilrnlted by warantee {North8m Irel&Jd Nl 37845) and Is reglstered wllh the Northem IrelaThl Chartty Commlsslon INIC 105169}. Our Mlsglon Is: To 1&8d In Ihe promotton, development, and dellvery of communlty arts wacuce to affect P08ttlve chanoe. Our ¥l$lon Is: To foster a It. Incluslve, peaceful, and creauve soclety where dSveryJlty18 embraced, and partlcipatlon Is valued. We malntaln a trFfold appY0 to art8 dgv•lopmenL' Swiorting 8¢ce88 8ThJ p&lclp8tlon I9h advooacy and leader8hlp. Promotlng authorshlp and ownw8hlp vla aclJve engagemert In projects 8nd pYowamme& Key Pnjgrammes and Acllvltle8 In 2023: 73 groups 4 art form areas on our communlty programm 15 groups w Lwr Inter-commwlty programme. 23 groups places on ow Inter-l11ty Slde by Slde prowamme. 55 8¢hoo18 places programmed on our Poetry In Mollon In Schools prOaMMe. 22 Po8t in re8ldenc8 wojects on our Poetry In Motion Communlty. over 5.500 vffjthshop 8fKI event partlclpants and 7,800 sw)port resp68 made Communlty Arts P8rtnetshlp conllnu8S to: Serve as the centra Fdnt of contsct for Ihe communty arts sector. Advocate for the tOr. engaging wllh govemmenL counclLs. and ats orgaraz8Uons. Provlde and grow ea[ch and iTff(¥mation disseminatlon. Develop new Itxal. reglonal. and Internath)nal partnerships.
EW BELFAST COMMUNITY ARTS INITIATIVE (TrADING AS COMMUNITY ARTS PARTNERSHIP) STATEMENT OF THE TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A•kn&y CAP remalns committéd to Its &Jvocacy role In Northem Ireland. C(lInn9 to PTomote th8 profile and stakn8 of the community art8 Séctor. In 2023. we: Engaged th go¥emmen( pollcy makers and counclls on a 98 of p)Ilcy aThJ 8trattyl¢ con8ult811ons, eg: Arts COU[1.$ 10 year Strategy, ACNI as Ivjst and ufflbrella organisatk&Tr l•1. Pe8ceplus programme developmen( BCC as consullatlve mefflb8r. EmbraGe 8 G18nt Splrft Cultur8 & Heritage Expertera Programm8 Tourtsm Nl, 8$ ¢on8ul Mlnlslerfj81 Culture. Arts Ind Herftage Stratsgy Ta8klorce. Dfc as member. NICVA'S Good Governance Gro. a8 m8fflber. ACNI Mlnortty Ethnlc Arts DelIberave Forum. as membar. Contlnued to )St update the Art8MatterNI campalon. Provlded IrrfOrmOn and res88rch on the poslllve Impacts of communlty arts to ¢)ver 450 orgard8atloM and Schools. Parllclpated In and hostad a rarvJe of addtlonal Infomial events to foBter rthrklng and experfenc8-8harlng. Infomidon SeNlce8 In 21Tr3. CAP'S Infonnauon Unlt furlher exparKled Its reach. woduclng weekly and monthfy e-n8W8 bulleOn8 Ihat grew to over 2700 subscrlbers on avera96 per month. The total hlts on our webslte exceeded 12 mllllon. rafiecung a continued Increase in engagement. Thls tnfomiatlon Is avallable through: Th8 Weekly {CAWI neWStter. Monthly onllnè fealure8 based frzlne. The Captaln'8 810g. OTrllne rws pag8s, The Dlrectory, 8n artlsV¢ommurity ordFne dlrectory. 0urfjJ1nQ and advlce surgerfes. On4lte and OTr11 Ilbrary of communlty arts theory and practlc& Research Our research efforts in 2023 tsused on ffl8pplng our current 8nd fiJbJre 8ervlce9 wlth communlty. We collaborated wilh over 120 commurity organisatsons to enswe levCe integration exlsung researth 8Ctiwties. This reSeah has led to as818llng more than 12 supported 8pF4icaUor to varicw funders. PLgtform8 for nelworknng and sharing expgrlen¢es In2023. CAP organlsed consullation for a. aGrog9 a range of issu88. Ptnerfng wllh either statutory agenGie OFcommunlty partn&5 {or bolh) dtawlrvJ partlclpaljon from local. natlonal, and Intemallonal pracllloners d pthlonals.
NEW BELFAST COMMUNITY ARTS INITIATIVE {TrADING AS COMMUNITf ARTS PARTNERSHIP) STATEMENT OF THE TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 PA1nership Wothlng Our ¢ommSlment to partnershlp worf(Ing remalned trg In 2(Y23. leadlng to collthrath)n8 wlth a range of new pathet8, both IallY 0$$ border. These p*tnetshlPS IrKlude: Ftxg8t Me Nots. Dublln", demenlla IncluBive cholr. supported by Creauve Ireld. Mearn UK, refugee expregslve arts. Fthsprlng. expresslve arts Inter¢ommunlty Pr8mme. Belf&5t and District Trad88 Unlon, May Day évenl 8xhibttlon8 8nd walklng tr devélopment. lrfsh Congre88 of trades Unlons. May Day event development. Northern Health and So¢lal Care Trust; poety pod programmlng. The ARC Th? ARC Gcmllnued io seNe as a vltal resource In 2¢Y23, offerfrvJ a 8ah and livIsion8d 8P•fOr ¢re8tfvity. In 2023 facertcrta xllvltles saw a h8 r¢swgen¢e and wlth that a rangg of n8w parther5 hlrlng varlety of space at much higher freqncle9. However, vith plnIng approved for the r•Jev8lopment of the slte on whlch our HQ Is located, CAP Is now explorfng mean8 to secure the bulldlng as a dedloaled communlty art8 centre. Govemanc8 & Management Stnxluro MS K MGFarf8ne Mr P Campbell MrJ Mccam Management C¢Jmmltt88: In 2023, th8 Man898ment Commlttee ¢ontltwed to provlde straleglo dlrecllon and g¢)vernan¢g for CAP. commlttee wa8 comprfsed of 3 trustees and 8 company secretary. John Mccann (Chalr), Karen McFarfan9 (Vlce£haif), Phlllp Campbell (Fln8nc8) arKI cOrK Shields (CEO and Company S8cr8t2ry) respectlvely. Day-trDay Operatlonal ManagemenL Under the leadewship of Chlef EXtive CCK Shlelds, CAP'S operatlons ¢(tInUed to thrf¥e. In 2023. personnel levels vMre malntaln&J across cor8 opwathjns and Ind88d. project cocrdlnators and freelance arts and creative rxoducers. Rlsk Ass888ment CAP'S malntains ongolro and constanl revlew of rfsk and Its rnanagent Via our central rfsk register. We ve a traffic Ilght system In plaGe to identify and manag8 risk across go¥ance. qjerations. finances. aThl axtemAI factors. ensurfng that CAP remalns resllient and adaptable. Ad(Il(al Iwge ¥Hle events off- rn86 has se8n the development of new sk assessment protoco18. Similarly. all arttst In ro8ldent prograrnmes have a new rlsk assessment tool (online) as well as trainlng and InclIc)n In Its Implementson.
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) STATEMENT OF THE TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Financl81 Revlthv Th8 Statement OF FlnarKial Actlvlues descrfb8s New Belfast Cornmunlty Arts Irltlatlve (trading as Communlty Arts Parbier8hip'8) income and exp8ndilure and funds for the y88r. The Income of£379,866 was slgnffic8nly highw than the prevhJu8 year, Slgnlficant capital 5ubventlons and much 8ppreGl8ted dCallOr accounllng forthe tse. Overall expenthbjre of£292,581. decrea$irKJ from the pre¥lous year. In year. ow ncIpal fvnder, Ihe Ajts Councll of North8m Ireland (ACNI) again agreed to contdbute £211,144 through Its Annual Funolro Programme through a Mge of core and proaramme fvndlng. CAP also recelved slgnmcant capltal Investmentfor equlpment from Its prfnclpal iknder. 8dfast Clty Counell agreed to contrfbute £38,250 in a new cycle of Core Mull-Annual Grant ald. alg wlth vou8 projects thrOh Communlty F8Stlv8ls fvndlrwJ. Tl ye8r refiected the ong¢lng p8ttem of prOurnIng acro8s the year and the reglon. Reserves Ca8h at hand: A8 of December 20rJ. cash at hand stood at £109,769. alln9 for re¥¢Nas to be r8laln8d to a¢Jdress ongolng contlngenl Ilablllties and Ihus erurlng organlsallonal stability. Contlngenl Ilablllly 1$ alway8 of GonG8m: CAP has 3 pennan8nt employees 6 part tbme freelance co- or¢Jnators. Thls presents an addltronal Canngent Ilablllty In 18rm8 of potentl81 redundarKy approachlno over £80.ChJO. Sugqe8tad best kyactlce Und Iha retenllon of re8erv88 by ACEVO and Irwjeod NICVA 18 314 monlh8 tumover. (At tN8 tlme, we have no slgrdftcant penslon Ilat41111es to report. Ho*Ver. we currently do not eommand adequate fund reserve8 to mikngat8 our contlnaent Ilabllltles and th8 organl8alon18 8trwgllng to ament[ts 8blllty to fund these finanGlal r18ks and Indeed a rarvJe of rfsks that cannot be foreseen. as h88 been hlghllghted by the Impact of th6 global pandémlc on our day to ¢Jay worklFvJ). P11¢ Benefit In 2023. CAP contlnued to dellver on Its charftsbk objects, advan¢lng pU1C educdon In the art8, fo8terfng communlty developmenl, and pn)vldlng facllllles for Greadve 8npJemenL All as8ets wer& u8ed In 8UPPOrt th8se obJpAffv65. wlth 88rvlceg ¢)ffered free at the polnt of Contt. New &mIrtsU8 for transportatlon of both equlpment and partlclpants I slaff. ' New podcasting ewlpment for profe88lonal and C1Mu1ty access,. Uprated prasentailon and dlgltal film makirlg equIent Iludg cameras, projectors arKI laptops.. Moblle alr Purfng system8." Scrwing new arts resource centre to enhance communlty arKI wofesslonal offer. - supported by Ajts co¢11 of Norfhem Ireland Health and Safety c¥ltal gt8nt
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) STATEMENT OF THE TRUSTEES REPORT (INCLUDING DIRECTORS, REPORf) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Fubjre Development Loc*lng ahead to 2024 and b8ycnd. CAP plans to seek greater and more dlverse Investment from both an expanded rollcall of fderS to suppjt core op8rallonal sustslnaLllity and partr In new and excltlng probct wc¥k In community settings. Pubilc Ben8fit New Beifast CommuTMty Art8 Inltlauve Va Communlty Arts Partner8hlp Identfftes Its ch8rltaUe ot4ects a8: (1)To advance publlc edwatlon 8j sllmulate and edwte interest In the Arts for the benefit of the puUIc d communllle8 In N Ireland armj els6vhre (th8'8rea of b8nefit'). particulady but not 8xdu8lvely, by any or all of the fdlowlThJ means.. (a)promotlng. organlsing 8nd publlclslnq cultural 8rt8 actlvlues, events. woth8hop$, Inltlallves exhlblUon8' (b)enctsJr&Jlng appreclalon for 8nd thé partlclpatlon In communlty arts and the cre8tFv8 art8 by people In Ihe area of b¢n8fit Ihrough tho provision of Infmatlon. publlcatlon8, advl¢e, support, tralnlno arKI f8cllltle8 (c)provldng •Jvocacy on behalf of Ihe art8 8ècior. partI¢arlY relatlna to mmUnIty arts perfcInncQ$, (2)To advance communlty d8¥elopment by engan9 wlth and a8816tlng Such groups 19&1J0n8. that have a genulne Interest In fvrthering the Objects of the Charfty. to organlse and paruclpate In culIra1 and arts projects and InlUatlve8. 13)The provlslon of fadlltles and amenltles for recreatlon and other lelsure-tlme (KCUpaon wlthln N Ireland wlth the ob]éct of Improvlng the coThJlllons of Ilfe of members of the publlc havlng ne8d of sh f8clllll88 ty rn88oro of th8lr age, sex. youih. dlsabllltte8. Poverty arn180clal and aconomlc clrcum81anrns. (4)To Fyomota such other charftatde purpose6 as may from tjme to tlme be determlned. I Ihe charfvs 88sets are used fci tharltat4e purp08e8 In 8UPPOrt of these oLlects. 8oardJMan4ement Commlttee members do not recdve any monetsry b8nefit for Ihelr role In goveAnlng the charfty. In the ent of 8ny w1n9 LP of th8 charfty Its remalnlng a3s8ts shall be trar)sfeired to another eharltable body wlth slfflllar objects vla cy pres. We strlve to offer all servlce5 fre8 at the polnl of CctaCt. Future Development We will oontlnue to grow arKI support current and new Inllatlves Includlng local. natlonal and Intematlonal symposia, progress local strategy development around communlty art8 p18, advocate for b8tter processes for culbjral producers and develop new tranlng swort programmes for 8rt18ts and communlues ar¥J with dthlopino our reglonal workshop and wolect offeng.
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) STATEMENT OF THE TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 statement of Statement of the Trustees res8111111es The TnBtees, who are also the drectors of New Belfast Communlty Arts Inltlallve ts thB purpose of c()np8ny law, are responsible for preparing the Statement OfThe TnBtees Report and the financlal statèments In accorda8 appiiGable law and Unlted lQngdom ACCOUnn9 Starvjards {Un1j KInln Gener4ly Accepted Accounung Pracfjce). Coryany Law reqLre8 the Trustee8 to prepafE financlal ststements for each Ilnal81 yearvthlch glve 8 true I fair vlew of the State of affalr8 of th8 ch8rSty and of Ihe Incomlng restyjrces and appllcauon of resouTce8, Includlw the Income and expendlture, of th8 charltable company for that year. In prepartng these fin?¢185 ststements, the Tntstees 8re requked to: - Select sultable accountlno pollcles and tWI apply them ¢on8lstenUy; - ¢Jb8eNe tho methods and wlnclples In the Chorfd88 SORP; - rn8ke judgements and e81Smates that are rea8onall8 and pwden¢ - State whethr apytcabla UK Accounting Si8ndardB hav81)een follow&J, sub]eGt to any materld deparbjres dsclosed and explaln8d In Ihe flnanclal statements: and - Ffepare the flnanclal statements on the golrvJ concem baBls Lmle89 It Is Inappropdate to presume that the charlty wlll eonUrn8 In operatkjn. The TnJBtees are respcffl$lbl8 for keeTra adeqJate acCotIng records that (Isclc6e th reaBonable accuracy atY rne th8 flnanclal posltlon of the charity and enable them to ensure thai the flnanclal 8tatements comply vAlh thè CoMleS Act 20c. They are also respon81Ne for safegu¥dlno th8 &58ets of the chaty and hence for laklng reasonable 8leps for the pffjvenljon anrj deteGtion offraud and other Iff¢gu11QS.
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) STATEMENT OF THE TRUSTEES REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Dlsclosure of irTFomaUon to audlior The Trustw who held office at the d* of apwoval of this report confirm thaL to th8 bést of thelr knovAedge, ther6 is no relevant 8udlt Informatlon of which the charity's auditors are unaware. Each Trustee ha8 tsken aN ne¢e88ary 8tep5 to ensure that thoy ara aware of any relevant audit Infomiatson. Audttor AA8 Gro A¢¢fntsnts Urnlted hav6 exwessfjd Ihalrwllllngn88S to coilJnu8 a8 audltor8 for CAP. and In accord8nce wllh Artcle 382 of the Compan188 Act 21Th, a resoluuon syopoglng th8lr reappdntsnent wlll ba 8ubmltted at tha next General Mootlng. Approval TN$ report was approved by the Dlrector8 and 81gned on thelr behalf. Mrc lelds Company Secr8lAry Dated: 31110r24
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW BELFAST COMMUNITh ARTS INITIATIVE I repgrt to the Trustees on my ex8mlnation of finan¢lal stsiwnents of New Belfast Communlty Art8 Inltiatlve (the ¢harftyl foy the year ended 31 December 20Y8. Resp81b111tles b8818 of report 8 the Tru8t8es of the charlty (and also It8 dIreci ft)rthe purpose5 of c(rfnpany1gw) you are respon&lble for thè &Y8paraOn ofthe IFnanclal statements In accordance vlth the requlrwnents of the Companles Act 2006 (Ih8 2008 t). Havlry 8atlsfiwJ my801f that the flnanclal statsments of the charlty are not requlred to be audtted under Part 18 of tho 20C Act and are ellglble for Indep8ndent examlnatlon, I report in respect of my 8xamlnalon of the charity8 financla statements card&J out under SeOn 65 of the ChlIeS Act (Northern Ireland) 2008 {th8 2008 Act>. In caryEng out my examlnalon I have followed all tha appllcable DlrecUon8 glvan by Ihe Charlty Comm1881on under 8eCt(on 65(9Kb) ofthe 2008 Act. Independent examlnefs 8tatement Slnce your ¢harltl8 gr05s Income exceeded £250,)0 yr exIn must be a member of 8 IIBted body. I can confim that l am quallflad to undgrtake th6 8x8mlna16on becsuse l am a raglstered member of Institthé of Chartered £countsnts Irela IICAII whlch Is one of Ilsted bodles. I have completed my examlnalon, I connmi that no matter5 have come to rny attenOn In conn8cUon wlth the ex8mlnallon glvlng m8 cau88 to believe that In any materlal respecL' apKountino record8 wère not kept In respect of the charlty 89 requlred ty Sectlon 386 of the 2006 Act: or the financlal statem$nts do nol accord wfth records: or the financlal Statements do not comply vAth the accounllng requlrements of Bectlon 396 oflhe 2008 Act other than any requir&ment that the aCcOts glve a Injg and fair view whlch15 not a mattgr Gonsidered as part of an iTrJepend6nt Oxamlnalon; or
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) INDEPENDENT EX4MINER'S REPORT (CONTINUED) TO THE TRUSTEES OF NEW BELFAST COMMUNITh ARTS INITIATIVE th8flnancld 8tatem&nts have Th)t been prepared Sn accordance wlth the method8 arwj WI188 of th8 Statsment of Recommended Praclce for accounung and reportlng by chadtles eppllcable to chorftle8 preparfng thelr accoLYrt8 In accordance wlth Ihe Financl81 Rewrting Sdd appllcable In th8 UK and Rawbllc of Ireland (FRS 102). I have no concoms and have corne across no othor matters In Ct)nne¢tlC wth the examlnadon to whlch attentlon shwld bè drawn In th18 report In order to enabl8 a proper urKlorgtsndlno of the flnanclal ststements to be feached, lichael Farrell For, ond on behalf of. A48 Group Accountsrts Llmlted Ch8rterad Accountants Statutry Audlto 1- 3 Arthur Stra8t Belfast Co. Nntrlm BT14GA Northem Irel
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 2023 Unr6strlcted R68trlcted nds funds TotAI Urtrted Restrtcted funds 2022 Total 21Y23 2022 2022 Irthmè 8TrJ¢)wments from: DonaUon8 and legacles Ch&llable aclviti88 C>th¥ Incom8 43,612 25.637 11,574 247.394 51.489 291.008 204,963 19,339 205282 76.104 68,7e5 11,834 Total Incom8 80.723 299.143 379.8ee 57,094 224292 281,386 Eypendltwe orL Charftable aGtlvllas 23,813 288.988 292.581 88.545 236.044 3ff2,589 Total experKlIr8 23.813 288.968 292.581 66.545 238.044 W2,589 Net IncoMel(exwtuffj) d movement In fund8 57.110 30.175 87285 <9,451) (11,762) (21,203) ReconcEllatlon of fvnd& Fund b8lance8 at 1 January 4.183 59.138 84,406 15.935 80.341 Fund balances at 31 Dec&nber 2023 112.065 34.368 148.4fd 4,183 69,138 The 8tatom8nt of fln8ncl81 acuvlueg Includ&8 all galn8 and losses recogn18ed In the year. AJI Income and expendltsjre derive from conllnuFng acllvlUe8. 10-
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) BALANCE SHEEr AS AT 31 DECEMBER 2023 20fd Flxed a88ets Tawlble 888ets Current 8888ts 11 38,191 14.547 12 8.112 109,769 9,670 42,780 Ca8h at barlc and In hand 115.881 Creiltors: *nowt8 falllng du8 Wttr4n one year 14 (1.849) (1,759) Net ¢uent a8ts 108,232 44.691 Tclal 8888ts le88 current Ilablllll88 148.423 59.138 Income funds Re8trlGted funds Urffe8trlot&J furmts 16 4,183 112.065 146.4Z3 59,138 11
NEW BELFAST COMMUNITf ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) BUNCE SHEET (CONTINUED) AS AT 31 DECEMBER 2023 The cOmpY Is enllU8d to the exemFllon from thg a(MJli rwulrement ¢c#tsined In 88Ctlon 477 of th8 Companles A¢t 21YJ8. ts Ihe yew end 31 December 2ry23. Thg St8tem8nt of tho Trustees re8pon8lbllllleg for erourlng tst1h8 charlty keeps aCcntIng records wNch comply wlth sectton 386 of the C¢xrynles Act 2006 and fLY preparfng accounts whl¢h glve a tn 8rNJ falr vl8W of the slate of affalr5 of the Company as at the end ofthe flnan¢lal year and of Its Incn1j resources and apF41oallon of re5wrS. Induding Its Income and •xpeTrJliwe, forthe fin681 y88r h acccth¢a wlth the reqLlrernent8 of8ecllons 394 and 395 and whlch otheNise Compty wilh the rewrements oflhe Companles Act2(M16 relatlna to accounts. so faras applicable to c(ry8ny. Thé membefs not requlred the company to obtaln an alIt0f Its fflnanclal 8tatem)ts forth& year In qU8sUon h accordance wlth secllon 478. Th88e finla1 8tat8ments have been prepared In acc¢xdanco wlth th• wovlalon8 •tcable to ¢Thnpan1è8 8ut¥t to the small compard88 rnglm$. Tho flnanclal $tatement8 were approv•J ty the Trustee8 31110124 MrJ ann Mr onor Shlelds Secretary Tnlee Company Reglstrallon No. N1037845 12-
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 nllng pollcies Charlty informatlon New Belfast Communlty Arts Inltiative Is a thate company Ilmlted by guarantee Incorp)rated In Northern Ireland. Th8 reglstered office is Tre ¢. 7 Donegall Street Place, 8eKasL Co. Antrlm. BT12FN, Northam Ireland, 1.1 kcounttng conventlon The financial statements have been wepared In accordance wlth the tth8rtty's Igovem5ng documenlj. Companles knt 2008, FRS 102 Yhe Flnanclal R8portlTrJ Slandard applloot4e the UK and Republlc of Iraland" ("FRS 102.1 and the Charftles SORP "AGcounllng and Rewrtlng by Charlt185: Statement of Recommended Pracuce appllcable to charitles preparfng thelr acc¢xJnts In a¢¢ordance wlth Ihe Financial Reportlng Standard appllcable In the UK and R8publlG of Ireld (FRS 102)" (effectlve 1 January 2019). The ¢h8rlty18 a Publlc Benefft EntFty &8 defined by FRS 11r2. Ihe The charlty has taken adventage Of the provlslons In Ihe SORP for chartttes not to prepare a Statement ol CaBh FI. The flnanclal 8tat8ments are prepared in 8terllng. whlch18 th8 fiJnclknal cutyency of the ch8rfty. Monetary nounts In thes8 flnanclal 5tatement8 ar8 Tounded to the newest £. Th8 flnanclal statements have been prepared under ts h18torlcal cost conv8nUon. [modlfled to Include e revalu8tFon of freehold propertles and to Include Investment propertle8 and certaln flnorKlo1 tnslruments at falr valuel. The prlnclpal accounUrvJ pollcles adopted are set out below. 12 Golng concem At th8 t(me of 8pprovlno the ffnan¢lal Statements. the Tru8tees have a reasonable expectauon that lh8 chadty ha8 ad8quate resources to contlnue Ir) operatlonal 8x18tence for the foreseeable fLrture, Thus lh8 Truste85 conllnu8 to adopt the golng concam basls of a¢eountlng In preparlng the fflnanclal statements. 1.3 Charftable funds Unreslrf¢ted funds are avallabla for u8e at the d8Gretion of Ihe TftAtee8 In furth•ran¢e of th8lr ¢h8rltsbl& oblecdves. Restdcted fvnds ar6 Subject to speclflc condltlorB by donors or grantr)rs as to how they may be used. The purposeB and uses of the re8trfGted funds are set in thg notes to the Ilnancial statements. 1.4 Income Income Is recognlsed when the charity [8 lega51y en1t1 toll after any p8rfomance conditiong have been me( the amounts can be measured r81i8bly. and It Is probable that income wlll be reGeived. Cash donatlons are re¢ognised on receipL Other dat[an8 are recognls8d once the chartiy has been notified of the donation. unless perfomarKe Gonditions requlre deferral of th8 amount. Income lax recoverable In relatlon to don8Uons recelved urKler Gift Ald or deets of covenant Is recognlsed at the time of the donation. 13-
NEW BELFAST COMMUNIry ARTS INITIATIVE (TRADING AS COMMUNIry ARTS PARTNERSHIP) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 AccountiThJ pdicies (C(rfnued) Leaacles are recognlsed on recelpt ¢X othèrwls8 If thè charlty has been noufied of an Impendtng dlslritjutlon, the amount Is known, and recelpt Is exFected. If Ihe amount is not known, the leg&y is treated a8 a ¢onlJngent asseL 1.5 Expendltur8 Expenditure 58 rttognl8ed oncè thérels 8 lag81 or constructlve obllgatlon io transfer ecortomlc b8Mfit to 8 thlrd party. It Is wobabl8 th91 a Iransfer of econrjnk b8nefits wlll be requlred In Bettlement. and the amount of the L*llgalon can be measured rellably. Exwdlture Is dassffied by acdvlty. The costs of each acovlty are made up of the tolal of dlrect costs and red costs. tn¢ludlThJ sUprrt costs Involved In uTrJ&tsklng each avIty. Dlre¢t costs attdtsut8e to a songle avItY are allocated dlrectly to that acllvlty. Shared Gosts hNfilch contrlbute to than on8 8Ctlvlty and support costs whl¢h are not atblbulable to a slngle aCtJV are appthoned be8 th098 acuvlues on a Ws con8lstent wllh the of resourc89. Central staff costs we allocaled on Ihe baBi8 ( Ilmé gpent, and depreclallon Charg are allocated on the poruon of the agset'8 fj. Expendliure 1$ COgnISed once Ihere Is a leg81 or comtructlve obllgatlon to make a payment to a thlrd party, It18 probable that settlement w511 be requlrnd and the amount of the obllgalon can be mea8(red rellably. Expendlture18 classllled under the followlng acJvlty headlng8: &xpendltLwe on chartlabla acllvltles Includes the costs of sUpp6a refvgee famllies and actlvllles undert&ken to further ts purpo8es of Ihe chadty and thelr a880clated gLlPPOrt ¢ost9; Other expendlbJe rewe8ents those Items Tr)t falllng Into any other headlng. l(recoverable VAT18 charo8d as a cost 4alnst the aCvIty for whlch the exwdlture was In¢uffed. 1.6 TangSbl8 ftxed assets Tanglble ilxed 8s86ts are InllJ8lly measured at C08l and sthequenly measured at ¢0gt or valuatlon, net of depr8olaUon 8TrJ any Impalrnient lossos. Depraclatlon Is rtswgnlsed so as to wrlté off the cost or valuatlon (rfa88ets less thalr regldual v81u8s over thelr useful lfves on the follng baw: Offlce Equlpment Fixlures ffttings Computer Eqpfflent Motor vehlcles Muslc Equlpment 20% Strayht Llne 20% Reduclng Bala0 33% Stralght Lhe 20% Stralght Llne 33% Straight Une The galn or loss 8rf8lng on the disposal of an asset Is detemlned as the difference bth88n the sale oceeds and the carrying value of th8 8sseL and15 recognlsed in the statement of financlal 8clivilles. 14-
EW BELFAST COMMUNITh ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pdlcles (ClInued) 1.7 ImpaFmient crffixed a8gets At each repoTting end dat8, the charity rev58W8 the Carrylng amounts of its tanglble assets to detèmlne whether th8re Is any indlcatEon that those as38ts have suffered an Impalrment Ios5. If any such indbcadon exists, Ihe recoverable amount of th8 asset is 8sllm8t8d In order to det8miin8 the 8xt8nl of th8 Impalm7ent loss IW any), 1.8 Cash and cash equlvalents Cash and cash equlvalents include ¢a8h In harKI. deposlts held at C811 banks, other short-tem liquld Investments vAth ortglnal maturfdes of three months or1868, and bank overdrafts. Bank ov8rdrefts 8r8 strthvn within borrowings In current Ilabllltlej. 1.9 Flnanclal Instruments The charlty has e18Cted lo apply tho Prov10& of Sa¢tlon 11 'Baslc Flnanclal Instruments. and Secllon 12 thor Fln8nel81 InJlruments18sues' of FRS 102 to al of Its flnanclal Instruments, Flnancial instruménts are recognlsed In the charws balance 8heat %%hen the charfty borneS pty to the contractual provlBlons of the InstrumenL FlnanGlal assets 8nd IlablllUe8 8r8 off38t. wlth Ihe net afflounts prgsented In Ihe financlal 8tstem8nt3. wh8n there Is a legally enforceable rlght to sel off the recognlsed amounts and therelg an Intenllon to setllo on a net ba818 or to reall8e the ass81 aTvJ setde th8 Ilablllty 81multaneou81y. Baslc flnandal a838ts Baslc flnancl81 assets, whlch Includè debtor8 and c88h and bank balan¢e8, aro Inldally m6a8ured at tran8acllon prlce Includlng transactlon costs 8nd are subsaquendy carded at omortlsed cost LK8lna the effectlve Intsrest method unle98 Iha arrarwnent corntltuies a flnanclng transac0. wheré the transactlonls measured at the present value of th8 fLrture recalpts dlscounted at a markot rate of Interest. FlnarFGlal a55ets cla89lfled as recelvable wlthln one year are not amortlsed. Basic finandal Ilabllltles Baslc financlal Ilabllwes, Includlnq credltots and bank loans are Inlllally recognlsed at trangacllon prtce unless the arrangement constitutes 8 flnanclng trarn8ct1(. there the debl instrument Is measured at the present value of the fvture payments dbsctyjnted at a market rate of Imerest. Flnanclal Ilabllltles classlfled as payable YAthln one year are not anortlsed. Debt In8truments ar8 SubsequenY ¢arrfed at amorfsed COBL u8lng the effoctlve Interest rate m8th0d. Trgje credltors are obllgations to pay for gthids or serylces Ihat have been acqulred In th8 ordlnary coufse of operatlons from suppll8rs. Amounts payable are clas$ffied as current IlablllU88 If payment Is wlthln one year or less. If not, they are presented as non-curmt Ilabllltles. Trade creditors are recognlsed Inltially at trSa¢ll0n prfce and 8ubs&]uently mts8ured at amortised c08t uslng the effectlve Intsrest Meth. DaregnItiOn of financial liabilities Financial Ilabilloes are derecognl8ed when the charity's contractsjal obiigaUon5 explre or are dIschged or cancelled. 15-
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accounling pollcles (Contlnued) 1.10 Employee benefits The cost of any unused holl(tsy enlltlemeni Is recognl¥ed In Ihe p8rfoJ In wNch the ploya8.5 serdces are recelvad. Temiln8tlon b8nafft8 are recognlsed Immedlately as an expens8 the chartty CL)nmltted to termlnate the ernOYMent of an employe8 or to provld8 temlnaoon bwfit8. 18 demonstrably 1.11 Retlremerrt benefits Psyments to defined contrfbution reurement bènefit scheme8 are ch¥ged as an expen88 a8 they fall i*J Cdtkal a¢¢ountlno 8Stlm8t8s and ludgements In the arollcatlon of tho chartty8 occountlna pollcles. th8 TnJ8t888 are reqLlr6d to make ludgaments, •stlmates and assufflptlo about th• rryIng afflounl cf 88sets arid Ilabllllles Ihat are not readily apparent trom other Sources. Thg 98tlmate5 assoclated assumpuorffj arg b88ed on hlstorfcal experience and other faci(Y8 that are consldered to be relev Actual re$t8 may dlffer from the88 e8tlmatea. The ostJmat85 and un(krtylng assumpdons are revlev•ed on on cff)golng basls. Revlslijns to accounttng e9mateS are recogn18ed th8 pertod In whlch Ihe e8Umat8 1$ revl8ed where the revlslon affects only that petlod. In the pedod of the Tev181on and fulure perl(M18 where the revIsI affec18 bolh GUTrent and firture period8. Income frixn donatlon8 legacl88 Unre8trlcted Restdcted funds 2023 Total Unr08tr1oted Re8Mcted Total 2023 2023 2022 2022 Donaljong and glfts Grants 43,812 43,812 247,394 329 204,953 247,394 204,953 43.812 247,394 291,008 204.953 %J5282 Grants Belfast Clty Coundl Arts Councll Northem Irdan& CtX8 36.250 36250 29.000 29.000 211.144 211.144 175.953 175.953 247.394 247.394 204.953 204.953 16-
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Chavltable activities Unrestrfctsd Rostrlcted Funds Fund 2023 Total Unrnslrfoted ReBlricted Fd$ Fund8 2022 Total 2022 Scdal Economy t>ant Income 2537 25,537 51,489 19,2B5 37,480 19.285 56.819 51.489 19.339 25.537 51.489 77.26 58,765 19.339 78.104 Analysis by fund Unragtricled fund8 Restslcted fijnds 25,537 25,537 51.489 58.765 58.785 19.339 51.489 19,339 25.537 51,489 77.(Y28 56,765 19.339 76.104 Perfoffnance related grants Arts C(MJncll Nl Health and Saftey Grant Belfast Csty CncIl Project Pr(yamme 88les Deparlment of Forelgn Aff81rn Other 46,CX 4,789 700 48.000 4,789 7(Xl 27.945 27.945 19.339 19.339 9.535 9,535 51,480 51,489 37,4 19,339 56.819 Other Income Ur*86tslcted Rastrlcied nds T¢)tal Unrestricted ReBtslcted funds Other Income 11,574 11.834 17-
NEW BELFAST COMMUNITY ARTS INITIATIVE ITRADING AS COMMUNITY ARTS PARTNERSHIP) NOTES TO THE FINANCIAL STATEMEfrtrs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Ch¥Its8 actlvlues UnStrICted Rgslrfcted FundB Funds 2023 2023 Tolal Unrestrfcted 2023 Funds 2022 RestrfGted Funds 2022 Totsl Stsff G05ts Proor8mm8 Costs Hlr8 of Equlpmejnt Gen4 Wen8es 125,wao 51.119 125,59) 81.302 124.509 83.9 124.509 90,576 4SO 668 10,183 6,582 558 10,183 179.697 189.880 7.590 208,503 218,093 Shar8 ofsupport CO8ts (see note 7) Shwe of g¢wemarKe c08ts (see note 7) 12.884 85.677 98,$61 30.847 51,488 82.133 548 4.140 363 4.000 4.3&3 23.613 288.988 291581 38.800 283.989 301589 Analysls by fund Unra8tricted funds Re#Mct8d fund8 23.813 21813 288.988 288,968 88.545 (27.945) 86.545 236.044 2e3,989 73,613 288.988 29Z581 38.800 283,989 302.589 18-
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) NOTES TO THE FINANCIAL sTATEmEs (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Support costs Sw)wt Goverrnnce Suppcft Govemance 08ts Osts D8preclation Premlses Expenses Offlc8 Expenses Travel Exp$69 InBurance Co6t8 Ftnance Chwg88 Sub8Crforffj Markettr General Expenses 15.741 37,316 15,741 37.316 11,867 34,220 26.078 5.726 3.220 11,e67 34.220 26.076 6.930 1.027 1.027 190 152 530 530 152 430 AcCotsncY fees Legg1 aTrJ F¥ofe881onal 3.480 3.480 4,020 343 4,020 98,581 4,140 102,701 82,133 86,496 Analy8ed botsvean Ch8rft8ble actlvllles 98,561 4.140 102.701 82.133 86.496 Govemancè Costs Includ88 payments to Ihe ind8pend8nt exwnlnerg IntspendMI oxamlnauon f880. of Q.748 P022- £2,500) far Trustse8 None of the Trustee5 (or any persc8 coMe¢tsd wlth them) recelved any remunwalon or benefits from charfty durlng the year. Employee8 The averag8 monthly number ofemployees dIng th8 yw was: Number Number 19-
NEW BELFAST COMMUNITY ARTS INITIATIVE (TrADING AS COMMUNITY ARTS PARTNERSHIP) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Employees (lInued) 2022 Empioym8nt costs 2023 Wages and salarfes Soclal 8e¢urity costs Other Perlon costs 87,340 30,934 7,316 76.446 39.409 125,590 124.509 No &nployee8 recelvad remuneratbon of weater than £80,000 In lh8 year. Thora wern no employee8 whoae amu81 remuneratlon was more than £eo,ci)o. 10 Taxallon Th? charfty IB exempt from taxalson on Its acUvllle8 becau8e 811 Its Income 18 applled for charfiabl8 puwes.
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Ta1b fixed assets Offlc• FLxtWaS 8nd EqulFYTrtt Mtlnsp Computer Equlprnent Mrtor Muslc v•lkles Ewlpmént Total At 1 J8nuy 2023 dlUon5 1.129 3,280 51436 57.825 40.375 39.385 At 31 December20Yd 1,129 3,280 53,436 39,385 990 200 Depredatlon 8nd Imparment At 1 January 2023 Depreclallon charaed In 2,405 39.V23 44288 171 10.898 15,741 At 31 Dember 20rd 1.129 2.5T6 50.719 4.595 eing amount Al 31 Decembor 2023 2.717 38.191 At 31 Decemb8r 2022 79 13.813 14,547 12 D8btors knoLmt8 falllng duo wlthln year. Trth debtor8 Olher deblo Prep8yments wjd aocru&J Inwme 4,CKJ3 7250 2,320 1,656 8,112 9.570 -21
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Ba overdrafts 158 Payable wllhin one year 158 14 Cr8dltor8: amourts falllng due *lthln one ye Bank ovrAdraft8 0er taxalon and Boclal securfty Tr•Je ¢r8clio ACenlS 13 158 2,801 2.400 1400 2.369 2,4 2.880 7.649 7.759 15 Rellrement knefit sch8m88 Defined contrlbuUon 8cheme8 Charge to profft or ILW In r88pect of defingd conts1txrtion 8chem8s 7.316 Tho Charfty operateB a delln8d ccthbuuon penslffl gchwne for 811 qLwllfylng employees. Ihe schem8 are held sepatatety from Ihose c(the charlty In an IndedentlY admlnistered fun(L The 8588ts of
raEW BELFAST COMMUNITY ARTS INITIATIVE {IRADING AS COMMUNITY ARTS PARTNERSHIP) OTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Restrkted funds Th8 regtslcted fvnd8 of the charity comprlse the unvApeThled balances of dOnaOn9 and grarbts held on tru8t subject to SP8cific Gondluons by donor5 85 to how Ihey may b8 U88d. Movemanl Sn Incornlng rasrGe$ Mov8m8nt In fund8 Incomlno R8sryJm•¥ reurceS axpended 31 Decernber
J23 88lano• at 1 January Resourc expended 8alanc• at 1 JANary 2023 AFP Core Comunlty Relallon8 Cwnoll ACNI Health and Saftey Programme ACNI Cor8 ACNI Equlwient 8elf88t Clty Councll Belfast Clty Councll- Covld Equlpment Grant DepdTtrnt of FcKd 212,104 P57,$03> (45,399) 960 48.OLWJ (11.210) 34,790 175,953 {175.963) 5,865 (5,665) 129.000) P55) 3,574 10,185 (8.002) 4,183 36.250 40,433 19.339 (19A24) 15,935 224.292 {236,044) 4.183 299.143 (268,968) 34.358 -23-
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) NOTES TO THE FINANCIAL sTATEME1rs {cor+tfiNUED) FOR THE YEAR ENDED 31 DECEMBER 2023 17 unrestf1cY fvnds The unrestrfeted funds of Ihe Charlty cornprls8 th8 LmexpeTrJed bal8nc&s of donatlons and grants wNch are not 8uLgact to speclflc condItkM by donors Gyantorn as to hw th8y may be U8ed. These Include deslgnated fvTh18 whlch hwe been 8et aslde out of unrestrtcted funds by the tru8te88 for specffic purpcA888. At 1 January Incomlna resources Rasourc89 At31 6Xpded Dntser General ndS 64.955 80,723 (23,613) 112,085 Prevlou8 yer. At l Janu Incoming RCeS At31 resources exwded Drnber 2022 General fund5 84.406 57.094 (86,546) 54.955 18 Analy819 of net a38ets beiween funds Unr88tr1cted Restrlcted nds 2023 Total 2023 20Z3 At 31 December 2023: Tanglble a888t8 Cmnt assetsl(IlablUtJe8) 3,401 108.664 38.191 108,232 (432) 112.085 34,358 146.423 Unrestrlcted RWlcted funds funds Total At 31 Decernber 21Y2 Tanglble assets Current ossetsl(IlatlUties) 10J84 44.591 4.183 14.547 44.591 4.183 59.138 -24-
NEW BELFAST COMMUNITY ARTS INITIATIVE (TRADING AS COMMUNITY ARTS PARTNERSHIP) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 19 Operatrng lease cornmltrnents Lessee At the repOrttr ond date the chartty had outstsn(Ing coftwnltments for futh mlnlmum lease payments under ncTrcancellable operating leasés. whlch fall dL* As follows: Wlthln one y•ar Between and )Ive years 25,810 8.623 26.810 32233 32.233 20 Related pty tranwttons There ww8 no d18c108able rokqted party trsaCtI(S dtylng the y8ar (20Z2- r¥Jno). -25-