**Amended Company Registration Number: Nl640622 Charity Number: 106022-0** 

## **NORTH WEST CULTURAL PARTNERSHIP** 

**(A company limited by guarantee, not having a share capital)** 

## **ANNUAL REPORT AND AUDITED FINANCIAL STATEMENTS** 

**FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024** 

**CLAREMOUNT FM LIMITED CHARTERED ACCOUNTANTS AND STATUTORY AUDITORS 43 CLARENDON STREET DERRY BT48 7ER** 



NORTH WEST CULTURAL PARTNERSHIP
IA company Ilmited by guarantee, not having a share ¢apltal}
CONTENTS
Page
Reference and Administrative Information
Trustees, Annual Report
Statement of Trustees, Responsibilities
Independent Auditorfs Report
8- 11
Statement of Financial Activities
12
Balance Sheet
13
Statement of Cash Flows
14
Notes to the Financial Statements
15-21
Supplementary Information relating to the Financial Statements
23

NORTH WEST CULTURAL PARTNERSHIP
{A company limited by guarantee. not having a share capital)
REFERENCE AND ADMINISTRATIVE INFORMATION
TRUSTEES
Hazel Deeney
Robert Andrew Lyttle
Margaret McLaughlin
Andrew Leslie Hetherington
Chris Duncan Rankin
Kenneth William Donaghey (Resigned 4 June
2024)
CHARITY NUMBER IN NORTHERN IRELAND
106022-0
COMPANY REGISTRATION NUMBER
N1640622
REGISTERED OFFICE
New Gate Arts & Cultural Centre
2 - 4 Kennedy Place
Londonderry
BT48 6RF
Northern Ireland
AUDITORS
Claremount FM Limited
Chartered Accountants and Statutory Auditors
43 Clarendon Street
Derry
BT48 7ER

NORTH WEST CULTURAL PARTNERSHIP
{A company limited by guarantee, not having a share capltal)
TRUSTEES, ANNUAL REPORT
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
The trustees present their Trustees, Annual Report, combining the Directors, Report and Trustees, Report,
and the audited financial statements for the financial year ended 31 March 2024.
The financial statements are prepared in accordance with the Companies Act 2006. FRS 102"The Financial
Reporting Standard applicable in the UK and Republic of Ireland. and Accounting and Reporting by
Charities.. Statement of Recommended Practice applicable to charities preparing their financial statements
in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS
102).
The Trustees, Report contains the information required to be provided in the Trustees, Annual Report under
the Ststement of Recommended Practice (SORP) guidelines. The trustees of the charity are also charity
trustees for the purpose of charity law and under the charity's constitution are known as members of the
board of trustees.
In this report the trustees of North West Cultural Partnership present a summary of its purpose, governance.
activities, achievements and finances for the financial year 31 March 2024.
The charity is 2 registered charity and hence the report and results are presented in a form which complies
with the requirements of the Companies Act 2006 and, although not obliged to comply with the Statement
of Recommended Practice applicable in the UK and Republic of Ireland FRS 102, the organisation has
implemented its recommendations where relevant in these financial statements.
MISSION, OBJECTIVES AND STRATEGY
OBJECTIVES
(1) Promote for the public benefit community participation in arts and cultural activities in the Fountsin
estate and surrounding areas (the "area of benefit") by..
(i) providing and managing facilities for the education and training of people of all ages in music, drama,
performing and creative arts:
(li) stimulating artistic creativity through the provision of facilities and support for artistic expression,. and
(iii) providing access to a range of art forms and performance opportunities.
(2) Advance public education by encouraging and fostering enhanced understanding, appreciation and
enjoyment of arts and culture through the production, development and promotion of concerts.
performances. festivals and cultural events.
3) Promote citizenship and social inclusion through involvement in community arts in communities that
face deprivation or other disadvantage and in particular..
(i) provide support and organise activities which develop the skills. capacities and capabilities of young
people to enable them to participate in society as mature and responsible individuals.
(li) engage with a range of age groups within the area of benefit in a manner which seeks to bring change
within communities and also within the lives of individuals.,
(li) encourage socially excluded individuals and communities to explore social issues through drama and
other art forms.
(4) Advance community development by providing facilities and practical support to community and
voluntary groups and organisations that are or intend to be involved in community arts activities so a5
to increase their efficiency and effectiveness and to encourage such groups and organisations to
co-operate to achieve their aims.

NORTH WEST CULTURAL PARTNERSHIP
IA company limited by guarantee. not having a share capltall
TRUSTEES. ANNUAL REPORT
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
STRATEGY
In order to achieve the above objectives the charity's activities include:
Improving facilities - The charity continues to work towards providing state of the art facilities, for the
benefit of the local community. The development of New Gate Arts & Culture Centre is therefore a
priority for the charity.
Education and training - The charity delivers music. dance, drama and other creative arts tuition on a
weekly basis. Additional training is provided if and when a need is identified. Aiding the development
of skills, capacities and capabilities.
Festivals and events- the charity delivers the New Gate Fringe Festival, as well as a number of smaller
events each year. encouraging community participation in the arts. in an area that suffers from
deprivation.
Older peoples programme- the charity delivers a programme of events for older people who are most
at risk of social isolation.
Community relations the charity is involved in an array of activities aimed at building understanding
and reconciliation within and between communities that suffer as a result of division and mistrust.
The charity have paid due regard to guidance issued by the Charity Commission in deciding what activities
the charity should undertake.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The charity is a company limited by guarantee. which was incorporated on 5th September 2016. The
company is governed by its Memorandum and Articles of Association, which were signed on 12th August
2016 on behalf of the first members of the charity. The charity is managed by the trustees, who are also the
directors for the purposes of company law. They meet throughout the year in order to manage the activities
of the charity. They are elected by members at the Annual General Meeting.
REVIEW OF ACTIVITIES, ACHIEVEMENTS AND PERFORMANCE
This a been a very important year in the development of the North West Cultural Partnership. We have
outlined our vision for the future. developing a new 5 year Strategy Plan laying the road map for our future
development.
Our vision is to build a future of confident, creative, and connected people. We will achieve our vision by
engaging and developing individuals and communities Ihrough innovative arts, creative programmes, and
civic leadership. Our priorities are to help people create, help people grow, and help amplify voices.
To do this we will ensure the partnership is stronger and more sustainable. New Gate Arts and Culture
Centre reopened after significant renovation and exlension. It is a new vibrant arts venue and facility in the
heart of Londonderry. It has enabled us to provide a range of cultural programmes and events throughout
the year including theatre, music and dance as well as engaging creative learning opportunities.
New Gate Arts and Culture Centre has been designed with ftexibility in mind. making it one of the most
versatile arts venues in the northwest. Our classes. workshops, talks, tours, performances and events
continued throughout the year and we were delighted to move these into the stunning New Gate Arts and
Culture Centre in the later half of the year.
The Peace Impact and Community In Partnership Programmes have continued to help bring about change
in communities; further developing links with other communities and extending the reach of the North West
Cultural Partnership.
The 3-week Path to Peace Programme thatwe developed in partnership with Hofstra Universitywas a great
success with students and members of the public engaging in debates, talks. trips and informal
conversations.

NORTH WEST CULTURAL PARTNERSHIP
(A ¢ompany limited by guarantee, not having a share capltall
TRUSTEES. ANNUAL REPORT
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
In addition our Older Peoples programme has provided older people with opportunities to attend social
events and learn new skills. reducing isolation and improving their physical and mental wellbeing.
Standout events include a performance at 10 Downing Street for the Prime Minister and our Halloween
perf0rrnan￿. The Halloween performance was the first event in our new building and attracted an audience
of 20,000 people over 3 nights. Finally. we were thrilled when our colleague Derek Moore was recognised
in the Honour List, being awarded an MBE for services to the community.
FINANCIAL REVIEW
The results for the financial year are set out on page 12 and additional notes are provided showing income
and expenditure in greater detail.
FINANCIAL RESULTS
At the end of the financial year the charity has assets of £3,546,297 {2023 £634,033) and liabilities of
£533.780 (2023 - £447.880). The net assets of the charity have increased by £2,826,364.
It is the policy of the charity that unrestricted funds which have not been designated for a specific use
should be maintained at a level equivalent to 6 month's expenditure. The charity considers that
reserves at this level will ensure that, in the event of a significant drop in funding. they will be able to
continue the charity's activities while consideration is given to ways in which additional funds may be
raised.
TRUSTEES
The trustees who served throughout the financial year. except as noted, were as follows..
Hazel Deeney
Robert Andrew Lyttle
Margaret McLaughlin
Andrew Leslie Hetherington
Chris Duncan Rankin
Kenneth William Donaghey (Resigned 4 June 2024)
In accordance with the Constitution, the trustees retire by rotation and, being eligible, offer themselves for
re-election.
COMPLIANCE WITH SECTOR-WIDE LEGISLATION AND STANDARDS
The charity engages pro-actively with legislation, standards and codes which are developed for the sector.
North West Cultural Partnership subscribes to and is compliant with the following:
The Companies Act 2006
The Charities SORP {FRS 102)
THE AUDITORS
Claremount FM Limited(Chartered Accountants), were appointed auditors by the trustees and have
expressed their willingness to continue in office in accordance with the provisions of Section 485 of the
Companies Act 2006.
APPROVED BY THE BOARD OF TRUSTEES ON 3 OCTOBER 2025 AND SIGNED ON ITS BEHALF
BY:
CA
Hazel Deeney
Director
Ei(
Robert Andrew
Director
le

NORTH WEST CULTURAL PARTNERSHIP
IA company Ilmlted by guarantee, not having a share capital)
STATEMENT OF TRUSTEES. RESPONSIBILITIES
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
The trustees, who are also directors of North West Cultural Partnership for the purposes of company law.
are responsible for preparing the financial statements in accordance with applicable law and regulations.
Company law requires the trustees as the directors to prepare financial statements for each financial year.
Under that law the trustees have elected to prepare the financial statements in accordance with United
Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable
law) including FRS102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland"
Under company law the trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of the charity and of the net income or expenditure of the
charity for that period.
In preparing these financial statements, the trustees are required to:
select suitable accounting policies and apply them consistently.
observe the methods and principles in the Charities SORP
make judgements and accounting estimates that are reasonable and prudent..
state whether the financial statements have been prepared in accordance with applicable accounting
standards, identify those standards, and note the effect and the reasons for any material departure from
those standards- and
prepare the financial statements on the going concem basis unless it is inappropriate to presume that
the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charity's transactions and disclose with reasonable accuracy at any time the financial position
of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006
and. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable
steps for the prevention and detection of fraud and other irregularities.
In so far as the trustees are aware:
there is no relevant audit infomiation (information needed by the charity's auditor in connection with
preparing the auditor's report) of which the charitvs auditor is unaware, and
the trustees have taken all the steps that they ought to have taken as trustees in order to make
themselves aware of any relevant audit information and to establish that the charity's auditor is aware of
that information.
APPROVED BY THE BOARD OF TRUSTEES ON 3 OCTOBER 2025 AND SIGNED ON ITS BEHALF
BY:
Hazel Deeney
Director
Robert Andrew Lytt
Director

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF NORTH WEST CULTURAL PARTNERSHIP
IA company limited by guarantee. not havlng a share capital)
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS
OPINION
We have audited the charity financial statements of North West Cultural Partnership {'the charity,) for the
financial year ended 31 March 2024 which comprise the Statement of Financial Activities (incorporating an
Income and Expenditure Account). the Balance Sheet, the Statement of Cash Flows and notes to the
financial statements, including the summary of significant accounting policies set out in note 2. The financial
reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Stsndards, including FRS 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland" and Accounting and Reporting by Charities: Statement of Recommended Practice
applicable to charities preparing their accounts in accordance with FRS 102.
In our opinion, when reporting in accordance with a fair presentation framework the financial statements-
give a true and fair view of the state of the charity's affairs as at 31 March 2024 and of its surplus for the
financial year then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice,. and
have been prepared in accordance with the requirements of the Companies Act 2006 and the Charities
Act (Northem Ireland) 2008.
BASIS FOR OPINION
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAS (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
responsibilities for the audit of the financial statements section of our report. We are independent of the
charity in accordance with ethical requirements that are relevant to our audit of the financial statements in
the UK, including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and
appropriate to provide a basis for our opinion.
CONCLUSIONS RELATING TO GOING CONCERN
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identified any material uncertainties relating to events
or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue
as a going concern for a period of at least twelve months from the date when the financial statements are
authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in
the relevant sections of this report.
OTHER INFORMATION
The other information comprises the information included in the annual report other than the financial
statements and our Auditor's Report thereon. The trustees are responsible for the other infomiation
contained within the annual report. Our opinion on the financial statements does not cover the other
information and. except to the extent otherwise explicitly stated in our report. we do not express any form
of assuran￿ conclusion thereon.
Our responsibility is to read the other information and, in doing so. consider whether the other information
is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit,
or othemise appears to be materially misstated. If we identify such material inconsistencies or apparent
material misstatements. we are required to determine whether this gives rise to a material misstatement in
the financial statements themselves. If, based on the work we have performed. we conclude that there is a
material misstatement of this other information, we are required to reportthat fact. We have nothing to report
in this regard.

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF NORTH WEST CULTURAL PARTNERSHIP
(A company limited by guarantee, not having a share capital}
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
OPINION ON OTHER MArrER PRESCRIBED BY THE COMPANIES ACT 2006
In our opinion, based on the work undertaken in the course of the audit..
the information given in the Trustees, Annual Report for the financial year for which the financial
statements are prepared is consistent with the financial statements. and
the Trustees, Annual Report has been prepared in accordance with applicable legal requirements.
MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION
In the light of our knowledge and understanding of the charity and its environment obtained in the course of
the audit. we have not identified material misstatements in the Trustees, Annual Report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to
report to you if. in our opinion:
adequate accounting records have not been kept., or
the financial statements are not in agreement with the accounting records and returns: or
certain disclosures of trustees. remuneration specified by law are not made- or
we have not received all the information and explanations we require for our audit.
the trustees were not entitled to prepare the financial statements in accordance with the small companies
regime and take advantage of the small companies, exemption in preparing the Trustees, Annual Report.
RESPONSIBILITIES OF TRUSTEES FOR THE FINANCIAL STATEMENTS
As explained more fully in the Statement of Trustees. Responsibililies set out on page 7, the trustees are
responsible for the preparation of the financial statements and for being satisfied that they give a true and
fair view. and for such internal control as they determine is necessary to enable the preparation of financial
statements that are free from material misstatement. whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charity's ability to
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going
concern basis of accounting unless management either intends to liquidate the charity or to cease
operations. or has no realistic alternative but to do so.
AUDITOR'S RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due lo fraud or error, and to issue an Auditor's Reportthat includes
our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit
conducted in accordance with ISAS (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate.
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
Irregularities. including fraud, are instances of non-compliance with laws and regulations. We design
procedures in line with our responsibilities. outlined above. to detect material misstatements in respect of
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below.
However, the primary responsibility for the prevention and detection of fraud rests with both management
and those charged with govemance of the charitable company.
We assessed the susceptibility of the charitable company's financial statements to material misstatement.
including how fraud might occur. including evaluating management's incentives and opportunities to
manage eamings or influence the reported results. In common with all audits under ISAS (UK). we are
required to perform specific procedures to respond to the risk of management override.

INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF NORTH WEST CULTURAL PARTNERSHIP
(A company Ilmlted by guarantee. not havlng a share capital)
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
FURTHER INFORMATION REGARDING THE SCOPE OF OUR RESPONSIBILITIES AS AUDITOR
As part of an audit in accordance with ISAS (UK), we exercise professional judgement and maintain
professional scepticisrn throughout the audit. We also".
Identify and assess the risks of material misstatement of the financial statements, whether due to
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not
detecting a material misstatement resulting from fraud is higher than for one resulting from error,
as fraud may involve collusion. forgery. intentional omissions, misrepresentations. or the override
of internal control.
Obtain an understanding of intemal control relevant to the audit in order to design audit procedures
that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the
effectiveness of the charivs internal control.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting
estimates and related disdosures made by trustees.
Conclude on the appropriateness of the trustees, use of the going concem basis of accounting
and, based on the audit evidence obtained, whether a material uncertainty exists related to events
or conditions that may cast significant doubt on the charity's ability to continue as a going concern.
Ifwe conclude that a material uncertainty exists. we are required to draw attention in ourAuditorfs
Report to the related disclosures in the financial statements or, if such disclosures are inadequate.
to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date
of our Auditor's Report. However. future events or conditions may cause the charity to cease to
continue as a going concem.
Evaluate the overall presentation, structure and content of the financial statements, including the
disclosures. and whether the financial statements represent the underlying transactions and
events in a manner that achieves fair presentation.
Enquire of management, those charged with governance and the Charity's solicitor around actual
and potential litigation and claims.
Perform analytical procedures to identify any unusual or unexpected relationships that may
indicate risks of material misstatement due to fraud.
Review minutes of meetings of those charged with govemance.
10

## **INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF NORTH WEST CULTURAL PARTNERSHIP (A company limited by guarantee, not having a share capital) FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024** 

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. 

## **The purpose of our audit work and to whom we owe our responsibilities** 

This report is made solely to the charity's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charity's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity's members as a body, for our audit work, for this report, or for the opinions we have formed. 


**G G Heaney (Senrc;; Statutory Auditor) for and on behalf of CLAREMOUNT FM LIMITED Chartered Accountants and Statutory Auditors 43 Clarendon Street Derry BT48 7ER** 

**y[d ] October 2025** 

11 



NORTH WEST CULTURAL PARTNERSHIP
(A company Ilmited by guarantee, not havlng a share capital)
STATEMENT OF FINANCIAL ACTIVITIES
Ilncorporating an Income and Expenditure Aeeountl
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
Funds
Funds
2024
2024
Total Unrestricted Restricted Total
Funds
Funds
Funds
Funds
2024
2023
2023
2023
Notes
INCOME
Donations and legacies
Charitable activities
Other trading activities
Investments
1,600 3,274,789 3,276,389
10,451
10,451
90,245
90,245
1.270
1,270
227,145 227,145
15,371
13,172
480
15,371
13,172
480
TOTAL INCOME
103,566 3,274,789 3,378,355
29,023
227,145 256,168
EXPENDITURE
Charitable activities
4.1 103,844
448,147
551,991
19,999
239.452 259.451
NET
INCOMEI(EXPENDITURE)
(278) 2,826,642 2,826,364
9,024
(12,307) (3,283)
Transfers between funds
(758)
758
NET MOVEMENT IN
FUNDS FOR THE
FINANCIAL YEAR
(1,036) 2,827,400 2,826,364
9,024
(12,307) (3,283)
RECONCILIATION OF FUNDS".
Total funds beginning of
the year
16 204,032
(17,879) 186,153
195.008
(5.572) 189,436
TOTAL FUNDS AT THE
END OF THE YEAR
202,996 2,809,521 3,012,517
204,032
{17.879) 186,153
The Statement of Financial Aclivities includes all gains and losses recognised in the financial year.
All income and expenditure relate to continuing activities.
The notes on pages 15 10 21 form part of the financlal statgmenls
12

NORTH WEST CULTURAL PARTNERSHIP
A company limited by guarantee, not having a share capital)
Company Number.. N1640622
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Notes
FIXED ASSETS
Tangible assets
2,887,043
488,741
CURRENT ASSETS
Debtors
Cash at bank and in hand
10
11
613,270
45,984
119,949
25,343
659,254
145,292
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
12
{491,986)
(73,822)
NET CURRENT ASSETS
167,268
71.470
TOTAL ASSETS LESS CURRENT
LIABILITIES
3,054,311
560,211
CREDITORS
Amounts falling due after more than one year
13
(41,794)
(50,856)
DEFERRED INCOME
14
(323.202)
TOTAL NET ASSETS
3,012,517
186,153
FUNDS
Restricted trust funds
General fund (unrestricted)
2,808,763
203,754
(17.879)
204,032
TOTAL FUNDS
3,012,517
186,153
These financial statements have been prepared in accordance with the special provisions relating to small
companies within Part 15 of the Companies Act 2006.
APPROVED BY THE BOARD OF TRUSTEES AND AUTHORISED FOR ISSUE ON 3 OCTOBER 2025
AND SIGNED ON ITS BEHALF BY
Hazel Deeney
Director
Robert Andrew
Director
ttle
The notes on pages 15 to 21 form part of the financial slalements
13

NORTH WEST CULTURAL PARTNERSHIP
STATEMENT OF CASH FLOWS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
2024
2023
Notes
CASH FLOWS FROM OPERATING ACTIVITIES
Net movement in funds
Adjustments for..
Depreciation
Interest receivable and similar incorne
Interest payable and similar expenses
2,826,364
(3,283)
39,628
(1,270)
3,900
8,506
(480)
1.656
2,868,622
6,399
Movements in working capital:
Movement in debtors
Movement in creditors
(493,321)
409,102
(74.104}
65,619
Cash generated froml(used in) operations
Interest paid
2,784.403
(3.900)
(8,485)
(1,656)
Net cash generated from/(used in) operating activities
2,780.503
(3,742)
CASH FLOWS FROM INVESTING ACTIVITIES
Interest received
Payments to acquire tangible assets
1,270
(2,437,930)
480
{73.853)
Net cash (used in)Igenerated from investment activities
(2.436,660}
480
CASH FLOWS FROM FINANCING ACTIVITIES
Deferred Income
(323,202)
73,853
NET INCREASE IN CASH AND CASH EQUIVALENTS
CASH AND CASH EQUIVALENTS AT THE BEGINNING
OF THE YEAR
20,641
25.343
(77,115)
102.458
CASH AND CASH EQUIVALENTS AT THE END OF
THE YEAR
11
45,984
25,343
14

NORTH WEST CULTURAL PARTNERSHIP
(A company limited by guarantee, not having a share capital)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
GENERAL INFORMATION
North West Cultural Partnership is a company limited by guarantee incorporated in Northern Ireland.
The registered office of the charity is New Gate Arts & Cultural Centre, 2 4 Kennedy Place,
Londonderry, BT48 6RF, Northern Ireland which is also the principal place of business of the charity.
The financial statements have been presented in Pound (£) which is also the functional currency of
the charity.
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The following accounting policies have been applied consistently in dealing with items which are
considered material in relation to the charity's financial statements.
BASIS OF PREPARATION
The financial statements have been prepared on the going concern basis under the historical cost
convention, modified to include certain items at fair value. The financial statements have been
prepared in accordance with the Statement of Recommended Practice (SORP) "Accounting and
Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland FRS 102"
As permitted by the Companies Act 2006, the charity has varied the standard formats in that act for
the Statement of Financial Activities and the Balance Sheet. Departures from the standard formats
are to comply with the requirements of the Charities SORP and are in compliance with section 4.7,
10.6 and 15.2 of that SORP.
STATEMENT OF COMPLIANCE
The financial statements of the charity for the financial year ended 31 March 2024 have been
prepared on the going concem basis and in accordance with the Statement of Recommended
Practice (SORP) "Accounting and Reporting by Charities preparing their accounls in accordance
with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland FRS 102"
FUND ACCOUNTING
The following are the categories of funds maintained..
RESTRICTED FUNDS
Restricted funds represent income received which can only be used for particular purposes. as
specified by the donors. Such purposes are within the overall objectives of the charity,
UNRESTRICTED FUNDS
un￿strICted funds consist of General and Designated funds.
General funds represent amounts which are expendable at the discretion of the board, in
furtherance of the objectives of the charity.
Designated funds comprise unrestricted funds that the board has, at its discretion. set aside for
particular purposes. These designations have an administrative purpose only. and do not legally
restrict the board's discretion to apply the fund.
INCOME
Income is recognised by inclusion in the Statement of Financial Activities only when the charity is
legally entitled to the income, performance conditions attached to the item(s) of income have been
met, the amounts involved can be measured with sufficient reliability and it is probable that the
income will be received by the charity.
INCOME FROM CHARITABLE ACTIVITIES
Income from charitable activities include income earned from the supply of services under
contractual arrangements and from performance related grants which have conditions that specify
the provision of particular services to be provided by the charity. Income from govemment and other
15

continued
NORTH WEST CULTURAL PARTNERSHIP
IA company Ilmited by guarantee, not having a share ¢apitall
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
co-funders is recognised when the charity is legally entitled to the income because it is fulfilling the
conditions contained in the related funding agreements. Where a grant is received in advance, its
recognition is deferred and included in creditors. Where entitlement occurs before income is
received. it is accrued in debtors.
Grants from governments and other co-funders typically include one of the following types of
conditions..
Performance based conditions- whereby the charity is contractually entitled to fijnding only to the
extent that the core objectives of the grant agreement are achieved. Where the charity is meeting
the core objectives of a grant agreement, it recognises the related expenditure, to the extent that it
is reimbursable by the donor, as income.
•Time based conditions- whereby the charity is contractually entitled to funding on the condition that
it is utilised in a particular period. In these cases the charity recognises the income to the extent it is
utilised within the period specified in the agreement.
In the absence of such conditions, assuming that receipt is probable and the amount can be reliably
measured. grant income is recognised once the charity is notified of entitlement.
Grants received towards capital expenditure are credited to the Statement of Financial Activities
when received or receivable. whichever is earlier.
EXPENDITURE
Expenditure is analysed between costs of charitable activities and raising funds. The costs of each
activity are separately accumulated and disclosed, and analysed according to their major
components. Expenditure is recognised when a legal or constructive obligation exists as a result of
a past event. a transfer of economic benefits is required in settlement and the amount of the
obligation can be reliably measured. Support costs are those functions that assist the work of the
charity but cannot be attributed to one activity. Such costs are allocated to activities in proportion to
staff time spent or other suitable measure for each activity.
TANGIBLE FIXED ASSETS AND DEPRECIATION
Tangible fixed assets are stated at cost or at valuation. less accumulated depreciation. The charge
to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less
their estimated residual value, over their expected useful lives as follows..
Freehold property
Fixtures & fittings
2 % Straight line
10 % Straight line
DEBTORS
Debtors are recognised at the settlement amount due after any discount offered. Prepayments are
valued at the amount prepaid net of any trade discounts due. Income recognised by the charity from
government agencies and other co-funders, but not yet received at financial year end, is included in
debtors.
CASH AT BANK AND IN HAND
Cash at bank and in hand comprises cash on deposit at banks requiring less than three months
notice of withdrawal.
16

continued
NORTH WEST CULTURAL PARTNERSHIP
{A company limited by guaranteo. not having a share ¢apitall
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
TAXATION AND DEFERRED TAXATION
No current or deferred taxation arises as the charity has been granted charitable exemption.
Irrecoverable valued added tax is expensed as incurred.
Defe￿ed tax is recognised in respect of all timing differences that have originated but not reversed
at the balance sheet date where transactions or events have occurred at that date that will result in
an obligation to pay more tax in the future. or a right to pay less tax in the fulure. Timing differences
are temporary differences between the charity's taxable income and its results as stated in the
financial statements.
Deferred tax is measured on an undiscounted basis at the tax rates that are anticipated to apply in
the periods in which the timing differences are expected to reverse, based on tax rates and laws that
have been enacted or substantively enacted by the balance sheet date.
INCOME
DONATIONS AND LEGACIES
Unrestricted Restricted
Funds
Funds
2024
2023
Donations
DCSDC
Communities in partnership
Community Relations council
Department for Communities
Department for Foreign Affairs
International Fund for Ireland
The Executive Office
Sundry Grants
Shared Island Unit
Arts Council
Future Screens
Triax
Ulster Scots Agency
1,600
1,600
24,467
102,905
24.467
102,905
14.571
21.200
1.470
16,366
16.366
112,857
112,857
133,266
133,266
2,427,032 2,427,032
31,651
74,729
51,236
1.831
7,886
82,679
11,000
28,234
7,059
5,722
323,202
82,679
11,000
28,234
7,059
5.722
323,202
11.494
4.080
1.700
5.297
1,600 3,274,789 3,276,389
227.145
3.2 CHARITABLE ACTIVITIES
Unrestricted Restrlcted
Funds
Funds
2024
2023
Event Income
Class fees
9,951
500
9,951
500
433
14,938
10,451
10.451
15,371
OTHER TRADING ACTIVITIES
Unrestricted Restricted
Funds
Funds
2024
2023
Rental Income
Management fees
19,505
70.740
19,505
70,740
9,657
3,515
90,245
90,245
13,172
17

continued
NORTH WEST CULTURAL PARTNERSHIP
(A Company limited by guarantee. not having a share ¢apitall
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
3.4 INVESTMENTS
Unrestricted Restricted
Funds
Funds
2024
2023
Bank Interest
1.270
1,270
480
EXPENDITURE
CHARITABLE ACTIVITIES BY ACTIVITY TYPE
Direct
Costs
Support
Costs
2024
2023
Charitable activites
540,924
11,067
551,991
259,451
CHARITABLE ACTIVITIES BY FUND TYPE
Unrestricted Restricted
Funds
Funds
2024
2023
Charitable activites
Support costs
98,489
5,355
442.435
5,712
540,924
11,067
241,402
18,050
103,844
448,147
551,991
259,452
ANALYSIS OF SUPPORT COSTS
2024
2023
Legal and professional fees
Audit fees
Mortgage interest
General expenses
Bank charges
2.514
3,000
3,900
1,468
185
15,724
1,656
621
48
11,067
18,049
NET INCOME
2024
2023
NET INCOME IS STATED AFfER CHARGINGI(CREDITING):
Depreciation of tangible assets
Auditor's remuneration:
audit services
39,628
8.506
3,000
INVESTMENT AND OTHER INCOME
2024
2023
Rent receivable
Management Fees
Bank interest
19.505
70,740
1.270
9,657
3.515
480
91,515
13.652
18

continued
NORTH WEST CULTURAL PARTNERSHIP
{A company limitad by guarantee, not having a share capital)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
EMPLOYEES AND REMUNERATION
NUMBER OF EMPLOYEES
The average number of persons employed (including executive trustees) during the financial year
was as follows".
2024
Number
2023
Number
Number of Staff - Admin
10
The staff costs comprise:
2024
2023
Wages and salaries
Pension costs
268,643
5.514
129,954
2,310
274.157
132,264
TANGIBLE FIXED ASSETS
Total
Freehold Fixtures &
property
fjttings
COST
At 1 April 2023
Additions
441,514
2.427,032
94,818
10,898
536,332
2,437,930
At 31 March 2024
2,868.546
105.716
2.974,262
DEPRECIATION
At 1 April 2023
Charge for the financial year
26,375
29,056
21,216
10,572
47,591
39,628
At 31 March 2024
55.431
31,788
87,219
NET BOOK VALUE
At 31 March 2024
2,813,115
73,928
2,887,043
At 31 March 2023
415.139
73,602
488.741
10.
DEBTORS
2024
2023
Trade debtors
Other debtors
598.520
14.750
98.235
21.714
613.270
119.949
11.
CASH AND CASH EQUIVALENTS
2024
2023
Cash and bank balances
45,984
25.343
19

continued
NORTH WEST CULTURAL PARTNERSHIP
IA ¢ompany Ilmited by guarantee, not having a share ¢apltsll
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
12.
CREDITORS
AMOUNTS FALLING DUE WITHIN ONE YEAR
2024
2023
Bank loan
Trade creditors
Accruals and deferred income
6,481
473,872
11,633
2,496
71,326
491.986
73.822
13.
CREDITORS
AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024
2023
Other creditors
41.794
50,856
Repayable in one year or less, or on demand (Note 12)
Repayable in five years or more
6,481
2.810,531
374,058
2.817,012
374,058
14.
DEFERRED INCOME
2024
2023
CAPITAL GRANTS RECEIVED AND RECEIVABLE
At 1 April 2023
Increase in financial year
323.202
254,646
73,853
At 31 March 2024
323.202
328.499
AMORTISATION
Amortised in financial year
(323,202)
(5,297)
NET BOOK VALUE
At 31 March 2024
323.202
15.
RESERVES
Funds
Total
At the beginning of the year
Surplusl(Deficit) for the financial year
204,032
(17.879)
186.153
2,826,364
2,826,364
At the end of the year
2.826,364
204,032
(17,879) 3,012,517
20

continued
NORTH WEST CULTURAL PARTNERSHIP
IA ¢ompany limited by guarantee, not having a share capital)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
16.
FUNDS
16.1 ANALYSIS OF NET ASSETS BY FUND
Fixed
Current
assets
assets
Current Long-term Long-term
liabilities
deferred
income
Total
Restricted trust
funds
(34,603)
500,183
(408,408)
6,481 2,762,256
2.825.909
Unrestricted
general funds
2,921,646
159.070
(83,577) (48,275) (2,762,256)
186,608
2,887,043
659,253
{491.985) (41,794)
3,012,517
17.
STATUS
The charity is a company limited by guarantee not having a share capital.
The liability of the members is limited.
Every member of the company undertakes to contribute to the assets of the company in the event
of its being wound up while they are members, orwithin one financial yearthereafter. for the payment
of the debts and liabilities of the company contracted before they ceased to be members, and the
costs, charges and expenses of winding up, and for the adjustment of the rights of the contributors
among themselves, such amount as may be required, not exceeding £ 1.
18.
CONTINGENT LIABILITIES
The charity received a capital grant of £2.427,032 from The Executive Office towards the
construction work of the New Gate Arts Centre building. The full amount has now been recognised
in income.
Contingent liability.. Under the terms of the grant agreement, if the building is sold or ceases to be
used for it's intended purpose within ten years, the grant may be repayable in full. No provision has
been made in these accounts, as the trustees consider the likelihood of repayment to be remote.
19.
POST-BALANCE SHEET EVENTS
There have been no significant events affecting the Charity since the financial year-end.
20.
CHARGES ON ASSETS
By a charge dated 26 June 2020 the company entered into a mortgage debenture including all the
lands comprised in folios LY83609, LY92505, LY114662 and LY92146 County Londonderry in favour
of The Executive Office in respect of all financial assistan￿ advanced to the company by The
Executive Office.
21

NORTH WEST CULTURAL PARTNERSHIP
(A company limited by guarantee, not having a share capital)
SUPPLEMENTARY INFORMATION
RELATING TO THE FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
NOT COVERED BYTHE REPORT OF THE AUDITORS
22

NORTH WEST CULTURAL PARTNERSHIP
(A company limited by guarantee, not having a share capital}
SUPPLEMENTARY INFORMATION RELATING TO THE FINANCIAL STATEMENTS
Operating Statement
FOR THE FINANCIAL YEAR ENDED 31 MARCH 2024
2024
2023
INCOME
3.286.840
242,516
COST OF GENERATING FUNDS
Good Relations Project Costs
CIPP Project Costs
Halloween Costs
Peace Impact Project Costs
Omagh Project Costs
Hofstra Project Costs
Training Costs
Other Project Costs
Wages and salaries
Depreciation
Staff pension scheme costs
Light, heat and power
Rent payable
Rates
Maintenance
nsurance
Telephone & Internet
Classes
Sundry Expenses
Advertising & Promotion
Printing. Postage & Stationery
Mileage & Travel
Donations
13.604
40,702
693
16,538
18.361
12,441
6,619
11,602
28,713
129,954
8,506
2,310
(75)
600
186
553
3,050
247
800
174
791
664
2.122
180
23,167
1,473
93,534
268,643
39,628
5,514
21,779
3,700
2.014
6,475
5.855
1.308
4,605
810
1,757
2,609
120
540,924
241,402
GROSS SURPLUS
2,745,916
1,114
EXPENSES
Legal and professional
Auditor'sllndependent Examinerfs remuneration
Bank charges
General expenses
2,514
3,000
185
1,468
15,724
48
621
7.167
16,393
FINANCE
Interest paid to group companies
3.900
1.656
MISCELLANEOUS INCOME
Rent receivable - other income
Management Fees
Bank interest
19,505
70,740
1,270
9.657
3.515
480
91.515
13,652
NET SURPLUSI(DEFICIT)
2,826,364
{3,283)