Docusign Erwelope ID.. 07290C21>E82A4B94-BD7B4)1E4A7182CEO Green Shoot Productions (A company Ilrnlted by guarnntw not havlng a sharg capltal} Annual Report and Unaudited Financial Statements for the financial year ended 31 March 2023 Quarter Chartered Accountants st Anno's House 15 Church Street Cathedral Quartor Belfast BT11PG Company Number.. N1043244 Charfty Number: NIC 105841 Docuslgn Envelope ID.. 07290c2o-E82A4B￿Bo7B-O1E￿I7I82cE0 Green Shoot Productions (A company limited by guardntee, not havlng a sharn capltall CONTENTS Page Reference and Administrativè Information Tru8lees' Annual Report statement of Trustees, Responsibilities Independent Examinerfs Report statement of Financial Adivities Balance Sheet 10 Notes to the Financial Statements Supplementary Informaion relating to the Financial Statements 17 Docusign EnvelopE ID: 07290G21kE82A4B94-BD7B-01E4A7182CEO Green Shoot Productions (A company Ilmltgd by guaranta4 nol havlThJ a share caplta REFERENCE AND ADMINISTRATIVE INFORMATION Trustses Iliam Barr Marbn ￿llIaM Mc£umey Catherlnè Mccullolb3￿JaYat ]fjmberly Jac*son (Rès[gn￿ 22 November 2022) Kathryn Baird Charlty Number In Northern Ireland NIC 105841 Company Regi8tratlon Numbar N1043244 Registered Offlce and Principal Addr95 North8m Whig 8ullding Unit2 Bridge Street Belfast BT11LU Independent Exarnlnor Quarter Chartered A[#￿untantS st Anne's House 15 Church Streat Calhedral Quartèr Belfast BT11PG Docuslgn Envelope ID: O7￿￿2(kE82A4B￿BD7￿1E4￿7182cE0 Green Shoot Productlons (A ¢ompany limited by guarantgo, not ha¥lng a shaTg capliaD TRUSTEES, ANNUAL REPORT for the financial year ended 31 March 2023 Th8 trustees present their Trustees, Annual ReporL cx)mbinlng Ihe Direc*ors' Report and Trustees, Report, aTrJ the unaudited financial 3tatemenls for the financAal year endéd 31 March 2023. The financial statements are prepared In accordan￿ with the Companies Act 2006, FRS 102 'The Finanual Reporting Standard applicablè in thé UK and Republic of Iretanry and AccountirrfJ and Reportiro by Charities: statement of Recommended Praetlce applicable to charibes prepariThJ their financial statemants In a￿)rdanvA with the Financial Reporting Standard applicab￿ in the UK and Republic of I￿land {FRS 11r2). The Trustees, Report contains the informatiM required to te provided in th8 Trustees. Annual Report under Ihe statement of Recommended Pr8ctice {SORPI guidelines. The trusieas of tho company are also charity Irustees for the purpose of charity law and under the 0)mpan￿5 constitution are known as M￿berS of the bo8￿ of Irustees. In thls report the trustees of Green Shoot Productions present a summary of its purpose, govemanp2, activltles. athlevemenls and finances for the fv)ancAal year 31 Marth 2023. The company is a r8gislered charity and hence the r8port arKI results are presented in a fomi which complies with the requirernerjts of the Companies Act 2006 and. althowJh not obliged lo cc*nply with the Statement of Racommendad Practice {Charthes SORP effective January 2015), the organisation has implemented its re¢ommendafjons wh￿2 relevant in these finandal statements. Mission, objec￿ve$ and Strategy ObJectlve6 Vision A Northem IreLqnd wh8rB theatre is placed in the heart of communities and ¥vher8 working dass and marginalised vol￿S ar8 heard on all stages. Mission GSP is ded1¢￿ted to commissioning and producing new writing fr)r the stage, to the highest possible standards. The company is ￿mmItt￿ to devéloping and presenting plays that contain strong sorAal, polillcal and Qu￿ra1 thamos, making theatre that is relevant to the population of N.1. GSP seeks to promote wotl(ing das8 and other margInalE￿ vol￿$ that are und8r4epre8ented within theatre. We constsntty strtve to attraGt IKSW ¢iudit>iir*s and particlpants. Conmunty engagement fom)8 th& foundation of all aspects of the company's approath and actiwty. Green Shoot Productions cx)r8 values ￿e. Excellance - we aim for the highest quality of V￿rk in everything w8 do. from professional production to communlty engag8m8nL Incjusion - we aim to ensure working dass and marglnalsied voic*s are brought to the fore,. aro heard, understODd and respected by all. Equality- our employment and artistlc V￿[￿ treats all wth dignty and faIr￿sS. Partnership - we actively seek partne)¥ to dev6k)p our programmes, embrace new skills, and rea¢h new Bud￿nceS and participants. Structure, Govemanee and Management Structure Governing dooJmént.' Green Shoot Productions is a Company Limited by Guarantee not having a share capital, incotporaled In 8th May 2002 and registered as a tharity Wlth Charty Commission Nl in November 2016. ApFointment of the Board of Direotots". There are currenty 4 thr8ctor5 of the c￿Mpany. appointed annually at the AGM. Board Induction and Training.. New membets und8rgo Induction a￿1 orientalion being briofed M legal obligations und8r tharity and CLMnpany law. From time lo time. th8 Board uThlertakes fvrther management training. Organisational Operations.. The Board of GSP administer the chaiity. The board delegate prcrfjrammlng to Martin Lynch as Artk8tic Director. as the most senitir Offi(￿r. Related parties and cy)-operation wth other organisations: None of Ihe Dlrectors t￿lved remun8ration or olh8r LEnefftg trom their work with the Charity. Any ￿nIlIct of interest in relation to any contracttjal agre8ments must b disclosed. No ￿nflictS of interest arose have be8n repoy￿ in the current year. Do￿*￿ Envelope ID.. o7290C2(kE82A4BWBD7￿lE4A71S2cE0 Green Shoot Productions (A ¢ompary Ilmlted by guarant••. not havlJvJ a $h4rg CapIt￿) TRUSTEES. ANNUAL REPORT for the financ4al year ended 31 March 2023 Referen￿ and administration details.. thee nam8 of th8 Charty is Green Shoot Productions. 11 is a limited by Guarantee not having a share (apital. The Company was incorporated In Bth May 2002 and reglstered as a charity with Charty Commlssion Nl on the 161h Novemb8r 2016. (Charity Numb8r. NIC10S841) Ravlew of Acllvltlès, Aehlevements and Porfornia￿e Programming 2022 -2023 was a packed year fvr th8 Ccffipany. A significant part of our work was based on Community Theatre Resklency in Tiger's Bay. We completed s8varal projects including The Half Moon, a new play by AJh% Malseed, a cross-community Youth Summ8r Schem8. a Documenlary following the lives of young people bulld*￿ a bonfiré. In August we revived In The Name Of The Son for runs at The Grand Opera House and The Edinburgh Fring8 Festival. Thls year we employed Aaron Calhcart as Community ErKJagem8nt Officèr on a p8rt-time basis. Flnanclal Revlew Green Shoot has applied for fvndlng to BCC multi-Annual Funthng, Arts CouneAI C(*nmissioning Fund. etc. We recerved funding from CRC & Dept. Of Forèign Affairs. sin￿ ¢)ur funding from TBUC a￿1 Ulst8r Garden Villag8s came to an end in 2023, the Company has worked on several applI￿￿on$ to Trust funds. Green Shoot had a very succes8fiJl fin￿cIal year in 202212023. However, whilst crtjr tsjmplèted acLounts show a ftgura in the bank of £71,732. tt should be bome in mi￿1 that ts majority of thes8 funds (£64.788} are restricted and ringf&nced for projècts taking place in the 202312024 year. For example, from that £64,788 figure, funds for projects by the Arts Councll (£22.740) and the Dept. Of Forebjn Affairs (£21, 508) came in before April 1st 2023 but were for pr(4erts to happen after March 31st 2023 and the Invok￿ for a TBUC woject also didnl com8 in1£7,168} until after March 2023. This left us a true balance In our bank acu)unt of £6,944. Flnancial Results At the end of Ihe financial year the company has assets of £g.fj.299 (?.￿? _ f.?4 4041 and Ilabilriies of £23,567 (2022- £13.990). The net assets of Ihe cornpany have increased by £61.318. Prfnclpal Rlsks and Uncertainties The Board continuousty reviews risks to which Ihe Company 18 exFM)sed, in parti¢uLqr Ihose relating to operati¢)ns and financè of the Company and are satisfied that go￿ finarmial pra￿1￿ is in pla￿ and systems ar& In Pla￿ to mitigale the 8xposura lo major risk. The CoMp￿Y remain arlist and whi15t our ￿tistiC Director works on a voluntary basis. w6 have had the luxury of 2 ftjll-time unployees - Project Officer. Nikki Tumar and Mary Baille. Administrator and a part-time Communty ErvJagement Offitsr. Aaron cath￿rt Its pr(Klucbon mcdel has developed to include CO-pfDduction and parti￿patory approaches ensuring relevan￿ to local communities. Project plans are in place to continue with the multi-far*tsd T￿erfs Bay projecL In addition the company will put plans in place for the productlon of ihe Iwo new commi88ions for the financial years of 2023- 2025. The company will wntinue to enable p8rbcipatory professional theatre, and theatre which engages b¢alised community audiences as well as existing theatre going audiences. A Slralegy document is in pla￿ and has been upgraded to take us up to 2025. Trustee5 The INstees who served throughout the thanc4al year. except as noted. were as follows.. William Barr Marbn Wlliam McBumey Catherine McCullough-Jayal lfjmberty Jackson (ReS￿ned 22 November 2022) Kathryn Baird In accordance with the Artides of Assodation. the directors reltre by rotation and, being eligible. offer Ihemselves for rw18dlon. Compllanc• vAth Sector-wlde Leglslallon and Standards Th8 company engages pro-advely with legislation. standards aTrJ codes which are d8veloped frjr the sector. Green Shoot Productions subscribas to and is ￿rn￿lant with the followiThJ: Ihe Companies Act 2006 The Charittes SORP (FRS 102) Docuslgn Envelope ID.. 07290C20-E82A4B94-BD7&01 E4A71tr2CEO Green Shoot Productions {A ¢¢)mparry Ilmh&d by guarantee, nol havlng a $hare cap TRUSTEES, ANNUAL REPORT for the finan￿al year ended 31 MarL* 2023 Reserves Tre tfustees have developed and adopted a reseNe8 policy that seeks to increase the UnreStr￿d income reserve fvnd equivalent lo six months of annual reportiw costs. GSP current policy is to hold 10% of nel earned income to increase the unréstricted Income r8seTve lo this level. Tho reserves are restricted and to be used wilh board approval. The trusteè récognise that financial perfO￿nan￿ will fluctuate be￿88n surpluses and defi￿ts but the medium temi slralegy is to see an overall trend of reserves growlh and increasing financial stability. Approved by the Board of Trustees on 23 January 2024 and signed on its behalf by. Martin William McBurney Director Docuslgn Envelope ID: 07290c2￿E82P￿B9￿BD7&olE4AY182cE0 Green Shoot Productions 62,288 61,318 787 19,9001 (9,1131 R￿on¢l11atl0n ol funds: Total fvnds baglnnlNJ ofthè year 13 7.914 2,500 10A14 7,127 12,400 19,527 Total funds at the end of the year 64,78B 71,732 7.914 2,500 10,414 The Statement of Financial Adivities indudes all gains and losses recronised in th& financial year. All income and expenditure relate to continuing aciiwties. The notes on pys l I to 15 foThn part otthe finawal statements Docuslgn Envelope ID.. 0729)C2W2A.4891-BD7B4IIE4A7182CEQ Green Shoot Productions (A company limlted by guara*ts¢. not havlng a shar• capltal) Company Number.. N1043244 BALANCE SHEET as at 31 March 2023 2023 2022 Notes Fixed Assets Tangible ass8ts 1.139 Current Assets Débtors Cash at bank and in hand 10 37,301 57,000 3,218 20,047 94,301 23,265 Creditorg: Amounts falllng due vhthln ono year 11 123,56n (13,990) Net Current Assets 70.734 9,275 Total Assets less Curront Llabllltles 71,732 10,414 Funds Rèstricted bu8t fund8 General fvnd (unrestricted) 64,788 2,500 7,914 Total fund¥ 13 71,732 10,414 These finandal statements havè baen prepared in accordanc* with the S[￿al promsions relating to small companias withln Part 15 of the Companies Act 20[6. For the ftnandal year ended 31 March 2023 the ￿MpanY was entitled to exemption from audrt under section 477 of tha Companies Act 2006,. and no notice has been deposited under section 476. The Irusiees conftmi ihat the rn8mba￿ have rnt requlred the company to obtain an audit (rf its fiiiaiiiifunders Is recognised wh&n the company is legally entitled to the inc4)me because it is fjJlfil1ing the condittons contained in the related funding agreements. ￿ere a grant is re￿iVed in advan￿, its r8cognition Is deferred and included in creditors. Where entltsment t￿U[S before ncome is re￿ived, itls accwed in debtor6. Grants from govemments and other co-funders tjpicalty Indude one ofthe fdlowing typ83 of ￿nditions. Perfonnance based condttions.. whereby the company is contrac*ualty entilled to funding only to the extent that the core objectives of the grant agreem8nt are achieved. ￿ the company is meeling the core otyedrves of a grant agTeem8nt, it reo)gnises tha related expenditwe. to the extent that it is reimbursable by the donor. as in￿me. -Time based conditions: whereby Ihe o)mpany B contrac*ually èntlded to funding on the condition that it is ulilised in a parttc#Jlar period. In these cases the cnmpany recognisès the income to extent it is utilised wlthin the period spedfied in the wJre&nenL In the absen￿ of s￿h conditions, assuming that receipt is probabl8 and tha amount can be reliab measured, grant income Is recognised oll￿ the c(Ynpany is notifi￿1 ofentitlem@nt. Grants racefved towards capital expenditure are uedited to th8 Statement of Finanaal A¢ttwties when received or receivable, vihictEver is earfler. 11 Docusign Ellvel¢)pe ID.. 0729OC20-E82UBWBD7B-01E4A7182CEO Green Shoot Productions (A company Ilmlted by guarantee. not havlny a sh¥0 capltal) NOTES TO THE FINANCIAL STATEMENTS continued for the financial year andad 31 March 2023 Tangible fixed assets and depre¢lallon Tangible fred assets are stated at cost or al valuatton. less aGGwnulatsl deppcialon. The charg8 10 d9p[e￿atiOn is CaS￿lated to writs off the original cost or valuation of tangible fixed assèts. their estimated resK1ual value. over their expect￿ useful lives as follows: Fixture5, fittings and equlw8nt 25% Reducwig Balance Debtors Debtors ar8 ￿cognIs￿d at the settlement amount dua after any discount offered. Prepayments ate valued at the amount prepaid net of 8ny trade discounts the. Ir￿me rec(KJnised by the company from govemment agencies and other o>funder5, but not yet re(tNed at year end, is included in debts)ts. Cash at bank and in hand Cash at bank and In haThJ comprises cash on deFx)sit at banks requiring less than three months noti￿ of thdrawal, Taxatlon and doferred taxation No currenl or deferred taxation arises as the company has been grdrrted charitable exemption. lThecov8rabl8 valued added tax is expensed as incurred. Deferred tsx is re￿gnised in resped of all timing differences that have oiiginatsd but not reversed at the balance sheet date where transadions or events have occurred at that date that wlll rasult in an obligation to pay more tsx in the future, or a right to pay less tax in the future. Tlming differences are temporary differen￿$ beiween the company's tgxable incr￿6 and its results a5 Stated in the finandal statements. Deferred tax is measured on an und15￿unled basis al the tax rates that are anticipated to apply in the perlods in which the Uming differences are expected to reverse, ba￿ on tax rates and law8 th9t have been enacted or substantively enacted by1he balan￿ sheel date. INCOME CHARrrABLE ACTIVITIES Unrestricted Restricted Funds Funds 2023 2022 Grant8 from governments and other c¢￿￿nderS. Th&atre Production 40,364 179,963 220,327 83,601 OTHER INCOME Unre8tricted Restrlcied Fund$ Fund8 2023 2022 Other Incomlng R6soun%s 25 EXPENDJTURE CHARrrABLE ACTIVITIES Dlreet Costs other Costs Support Costs 2023 2022 Theatr8 Production Costs qOS.311 333 63,366 169,009 92,739 SUPPORT COSTS Charltablo Acllvttl 2023 2022 Central Premises Costs Salaries & Wagès General office Professional fe6S $05 45,064 3,918 3,878 505 45,064 3,918 3,878 8,052 9,082 4,246 4,121 53,365 S3,365 25,501 12 Docuslgn Envelope ID: o7290c21￿2A4B￿B07￿l E447182CEO Green Shoot Productions (A company limitod by guarantw. not havi￿ a ¢apltal) NOTES TO THE FINANCIAL STATEMENTS continu for the financ¥al year end8d 31 March 2023 ANALYSIS OF SUPPORT COSTS 2023 2022 Central Premises Costs Salariès & Wages General offir Professional feas 605 45,064 3,918 3,878 8,052 9,082 4,246 4,121 53,365 25,501 NET INCOMING RESOURCES 2023 2022 Net In¢omlng Re80urc8s are slated after charglngll¢redltlng): Depreelation of tangiblè assets Grants r8c8ivable received 333 380 (3,850) INVESTMENT AND OTHER INCOME 2023 2022 Revenue grants re￿Ived Bank Interest 3,850 25 3,875 EMPLOYEES AND REMUNERATION Number of employees The aveTrge number of persons employed (including exec#Jti¥e trustees) during the financial year was as follows.. 2023 Number 2022 Numb&r Admlnlstration The staff costs o)mprise.' 2023 2022 Wages and salaries Social security costs Pension costs 40,672 3,558 834 8,255 827 45,064 9.082 13 Docuslgn Fmvdope ID.. 0729CC21>E82A4894-BD7B-01E4A7182CEO Green Shoot Productions (A company Ilmlted by guarantso, not ha¥lng a sharo capltal) NOTES TO THE FINANCIAL STATEMENTS continued for the financial year ended 31 Marth 2023 TANGIBLE FIXED ASSETS Flxtures, fitting5 and equipment Total Cost At 1 April 2022 Addlllons 7,057 192 7,057 192 At 31 March 2023 7.249 7.249 Depreciation At 1 April 2022 Cha￿e for the financial year 5.918 333 5,918 333 At 31 March 2023 6,251 6.251 Net book value At 31 March 2023 998 At 31 Ma￿h 2022 1,139 1.139 10. DEBTORS 2023 2022 Trade debtors 37,301 3,218 11. CREDITORS Amounts falllng due wlthln one year 2023 2022 TradA exaditnrs Other creditors Accruals and defetTed inrx)m8 9.491 11,976 2,100 60 12,180 1.750 23.667 13,990 11 RESERV&S 1023 2022 At beglnniThJ of the year Surplusl(Deficrf() for the financial ye 10,414 61,318 19,527 19,113) At ts end ofthe y￿r 71.732 10,414 13. FUNDS 13.1 RECONCILIATION OF MOVEME1￿ IN FUNDS Unrestrlcted Restrlctsd Funds Funds Total Fund8 At 1 April 2021 Movement during the financ4al year 7,127 787 12,400 (9.900) 19,527 (9,1131 At 31 March 2022 Movemenl during the financial year 7,914 (970) 10,414 61,318 62,288 At 31 March 2023 64,788 71,732 14 DoCU￿n Envelope ID.. 0729oc2l￿2A4BwBD7B4j1E4A7182cE0 Green Shoot Productions IA company Ilmlted by guaranteq not having a share ¢apltaD NOTES TO THE FINANCIAL STATEMENTS continued forthe financial year ended 31 March 2023 13.2 ANALYSIS OF MOVEMENTS ON FUNDS Balancg 1 Awil 2022 Income Expenditure Transfers between funds Balance 31 March 2023 Re8trlcled lund8 Arts Coundl Belfast City Council Other Funds Department of Fcfeign Affairs- Reconc(liation Fund Future Screens Ulster Garden Villages TBUC 30,000 1&285 7,260 7,106 2,500 11,646 22,740 11,179 2,500 33,154 21,508 21,919 22,500 54,105 20.352 21,874 46,937 1,567 626 7,168 2,500 179,963 117,675 64,788 Unrestrlcted fund8 Unrestricted Funds 7,914 40,364 41.334 6,944 Total funds 10,414 220,327 159.009 71,732 13.3 ANALYSIS OF NEf ASSETS BY FUND Fixed assets - ¢harlty use Current assets Current liabilities Totsl Restric￿￿ tnist fvncL8 42.288 42,288 Unrestricted general funds 52.013 123,S67) 29.444 94,301 123,567) 71,732 STATUS The C¢xnpany Is limtted by guarantee not having a share capital. The liability of the members is Iwnited. Every member of the company undertakes to ￿ntribute to the assets of the c¢xnpany in the event of its being wourKI up while they are members. or withii year Ihereafter. for the payment of the debts and liabilities of the company contracted before th8y ceased to be rnember5, and the costs, charges and eypenses of winding up. and for Ihe adjusbnent ol the rights of the Contribu￿ among th8msalves, such amount as rnay be required, not exrkeding £ l. 15 Docuslgn Envelope ID.. O7290C20-E82A4B94-BD7￿lE4A7182cE0 GREEN SHOOT PRODUCTIONS IA ¢ompany Ilmited by nol havlng a share ¢apltal> SUPPLEMENTARY NFORMATION RELATING TO THE FINANCIAL STATEMENTS FOR THE FIMANCIAL YEAR ENDED 31 MARCH 2023 16 Dowslgn Envelope ID.. 07290C2￿E82A4DwBD7￿lE4A7l82CEo Green Shoot Productions IA ¢omp&ny Ilmltgd by guarantse. not havlng a sh￿ capilat) SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS Operating Statement for the financial year ended 31 March 2023 2023 2022 In¢ome Box Offi￿ Ino)me Arts Councll Belfast City Councll Departm&nt of Foreign Affairs - Rerx>nciliation Fund Community Relations Future Screens Ulster Gardens Willages TBUC 40,364 30,000 18,285 33,164 58,856 10,000 5,895 5,000 21,919 22,500 54,105 220,327 79,751 Cost of g?neratlng funds Direct Advertising Performers Fee5 Insurance Commissions payable Travel and Subsisten Royalty paid 64,611 8,294 24,045 1,138 46,777 4,385 1,040 7.710 871 1,334 4,300 100,293 66,858 Gr088 surplus 120,034 12,893 Expenses wag@s and Salaties Sooaal security costs staff define(l t￿ntrIbutiOn penS￿n cosis Stsff trainir Rent payable Light ané heat Prinung, postage and stationery Telephone Computer costs Legal and professional Accountancy Bank charges Credit fArd Gharges General eX￿nSeS Subscriptions Depreciation 40,672 3,558 834 5089 8,255 827 6,600 1,452 1,958 355 908 505 1A42 583 686 432 3A46 93 4,121 148 26 808 44 380 243 333 58.716 25,881 Mis¢ellaneous income Revenue grants re￿IVed Bank Interest 3,850 25 3,875 Net surplusl{deficlt) 61,318 (9,113) The supplementary infomiation does not form part of the finanaal staternents 17