Registration number N1638437 Charity number INIC106124 Northern Llghts Project Ltd (Company limited by guarantee) Dlrectors, report and flnanclal statements for the year ended 31 May 2024
Northern Lights Project Ltd Company limited by guarantee Contents Page Company Infonnation Directors, report Independent Examinels report Statement of Financial Activities Balance sheet Notes to the financial statements 9-13
Northern Lights Project Ltd Company limited by guarantee Company information Dlrectors Brian Stafford Leanne Peacocke Amanda Koser-Gillespie Kevin Peter O'Dohety Appointed 9th July 2024 Resigned 22nd July 2024 Resigned 22nd July 2024 Sccretary Amanda Koser-Gillespie Charity number NIC106124 Company numbor N1638437 Registered office 5-7 Artillery Street Derry BT48 6RG Accountants McGroaty Mccafferty & Company Ltd Accountants & Consultants 2 Carlisle Terrace Derry BT48 6JX Bankers Santander 17 The Diamond Derry BT48 6HW Page I
Northern Lights Project Ltd Company limited by guarantee Directors, report for the year ended 31 May 2024 The directors present their report and the financial statements for the year ended 31 May 2024. Principal activity The principal activity of the charitable company include the promotion and development of cohesive and confident communities in Northern Ireland as well empowered and creatively engaged individuals. Dlrectors The directors who served during the year are as stated below: Brian Stafford Leanne Peacocke - Appointed 9th July 2024 Amanda Koser-Gillespie - Resigned 22 July 2024 Kevin Peter O'Dohety- Resigned 22 July 2024 Purpose and aims Northern Lights Project is a Derry-based music organisation and charity. It was founded in 2016 with the purpose of creating, producing, and promoting cutting-edge new music and adventurous interdisciplinary arts events. The organisation develops innovative approaches to presentation with perfonnances, workshops, and concerts in a range of public arenas. Its main aims are to: Cr¢at¢, produce and promote new and innovativ¢ new musiolsound-based and multi-media events; Promotes and present performances, concerts and other events; Use musi¢ as a tool for community engagement and development; Encourage and facilitate participation, particularly by young people, in music and the arts; Develop partnersliips that Cross boundaries between music, the arts and beyond. Actlvltles Highlights in the season 2023-24, funded by the Arts Council of Northern Ireland, included: September - December 2023; The Oram Awards Series. This series provided a platfonn for innovation in sound, music, and related technologies. With the support of lead partners The Radiophonic Institute, PRS Foundation and the British Council, the aim of the awards is to elevate the work and voices of Women, Trans and Non-Binary music creators in electronic music. October & November 2023 - Northern Lights Project marked the occasion of the 50th anniversary of Michel Chion's Requiem" in Belfast and Hudd¢r5fi¢ld. February 2024 - Tour of N. Ireland and England - four concerts with Electric Circus and bass clarinettist Sarah Watts. May 2024 - Tour of N. Ireland - tsvo concerts with Electric Circus and violinist Darragh Morgan. In 2023-24 we also continued with our regular series of Derry Sound Factory events presenting new and experimental music by local practitioners with regular events. Page 2
Northern Lights Project Ltd Company limited by guarantee Directors, report for th¢ y¢ar end¢d 31 May 2024 continued In 2023, with funding from Arts Council of Northern Ireland's National Lottery Rural Engagement Arts Programme we ran "Cinema for the Qu(ear)s - a project for young LGBTQl+ people aged between 12 and 18 and living in rural areas in the North West to create the soundtrack for a new audio artwork. Beneficiaries Education and Outreach Most of our concerts have included an education or outreach component with opportunities for various groups to actively take part in creative music-making. These have included school children and young people. Our concert series provides a platform for new and experimental music and sound art, allowing participating artists to road-test new ideas and develop existing pieces. The series provides a space for creative exploration and risk-taking with a view to developing and presenting high-quality imaginative and innovative work. We have attempted to programme a diverse series of music and sound-based events, each with a distinct identity and appealing to a slightly different audience segment. The intention is to attract a broad audience with overlapping interests ranging from contemporary art, improvisation. new music and electronica. Contemporary inusic is rather more established in Belfast and we believe that much is to be gained from developing links between Derry and Belfast to help strengthen both the sector. by catering for a small but curious audien¢e, as w¢ll as providing these artists with much-needed exposure and perforniance opportunities. Plans for the future W¢ plan to present a further series of concerts in Dery and Belfast in late 2023 and early 2024. Th¢y will feature Northem Irish and visiting artists from a range of disciplines, including improvised music, sound art, live art and electronic inusic. These artists have been chosen for their unique aesthetic voice, the high standard of their artistic abilities and the high quality of the work they produce. Each concert in the series foregrounds risk, experimentation and imagination and seeks to present inspiring work that would not otherwise be available for local audiences to experience. The success of this series of events, highlights the need for and level of public interest in experimental music in Northern Ireland, particularly in the north west region, We are gradually building a dedicated audience and plan to continue to support experimental music artists, locally, regionally and nationally. We have applied for substantial project funding from the Arts Council of Northern Ireland to allow us to continue presenting music projects and to allow us to grow the reach of our activitie5 in Derry and further afield. Page 3
Northern Lights Project Ltd Company limited by guarantee Directors, report for the year ended 31 Mydy 2024 continued Dlrectors responslbilities The directors of Northem Lights Project Ltd for the purposes of company law are responsible for preparing the Directors, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements for each financial year. which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. Tn preparing these financial statements, the directors are required to: select suitable accounting policies and then apply them consistentlyg observe the methods and principles in the Charities SORP 2019 (FRS 102); make judgements and estimates that are reasonable and prudent. state whether applicable UK Accounting Standards have been followed, subject to any material dcpartures disclosed and explained in the financial statements prepare the financial statements on the going concern basis unless it is inappropriate to presume that the cliaritable company will continue in operation. The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time thc financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitabl¢ company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the directors are aware: there is no relevant infonnation of which the charitable company's independent examiner is unaware; and the directors have taken all steps that they ought to have taken to make themselves awaK of any relevant infornjation and to establish that the independent exaininer is aware of that inforniation. This report is prepared in accordance with the special provisions of part 15 of the Companies Act 2006 relating to small companies. This report was approved and authorised for issue by the Board on 25 February 2025 and signed on its behalf by Directo Director Page 4
Northern Lights Project Ltd Company limited by guarantee Independent examiner's report on the unaudited financial statements to the directors of Northern Lights Project Ltd We report on the accounts of the company for the year ended 31 May 2024, which are set out on pages 6 - 13. Respective responsibilities of charity director5 and examiner. As the charity directors you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006, Having satisfied ourselves that the charity is not subject to audit under company law, and is eligible for independent examination, it is our responsibility to. examine the accounts under section 65 of the Charities Act 2008; follow the procedures laid down in the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act 2008. state whether particular matters have come to our attention. BASIS of Indepondent examiner's report We have examined your charity accounts as required under section 65 of the Charities Act and our examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under Section 65(9)(b) of the Charities Act. The examinatiort included a review of the accounting records kept by the charity and a comparison of the accounts presented wilh those records. It also included a consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity directors concerning any such matters. Our role is to state whether any material matters have ¢om¢ to our attention giving us cause to believe: that accounting records were not k¢pt in accordan¢¢ with section 386 of th¢ Companies Act 2006. that the accounts do not accord with those accounting records. that the accounts do not comply with the accounting requirements of the Section 396 of the Companies Act 2006 and the methods and principles of the Charities Statement of Recommended Practice applicable to hariti¢s preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Treland; that there is further information needed for proper understanding. Independent exAmlDer's statoment We liave completed our examination and have no concerns in respect of the matters listed above and, in connection with the following directions of the Charity Commission for Northern Ireland, we have found no matters that require drawing to your attention. '4,pcchG M¢Groarty, ompa Aecountants & Tax Consultants 2 Carlisle Terrace BT48 6JX Date: 25 February 2025 Page 5
Northern Lights Project Ltd Company limited by guarantee Statement of Financial Activities for the year ended 31 May 2024 Total Funds 2024 Total Funds 2023 Unrestricted Funds Restricted Funds Incoming Rosouree$ Grant & Sundry Income 3,783 76,432 80,215 27,296 Total Incomlng Rosourcos 3,783 76,432 80,215 27,296 Resources Expended Direct Charitable Expenditure Management & Administration 4,286 1,158 74,273 78,559 25,103 1,158 1,089 Total Resources Expended 5,444 74,273 79,717 26,192 Net Incoming / (Outgoing) Resources (1.661) 2.159 498 I,I04 Balances brought forward l June 2023 2.434 2.434 1,330 Balances carried forward 31 May 2024 773 2,159 2,932 2,434 The above amounts relate to continuing operations of the charity. The charity lias no recognised gains and losses other than those included in the results above and therefore no separate statement of total recognised gains and losses has been presented. There is no difference between the net incoming resources for the year stated above and their historical cost equivalents. Page 6
Northern Lights Project Ltd Company limited by guarantee Balance sheet as at 31 May 2024 2024 2023 Notes Fixed assets Tangible assets Current assets Cash at bank and in hand 2,159 8,435 31,562 8,435 31,562 Creditors: amounts falling due within one year (7,662) (29,128) Net current assets 773 2,434 Total assets less current liabilities 2,932 2,434 Net assets 2,932 2,434 Funds Restricted Unr¢stricted 2,159 773 2,434 2,932 2.434 The notes on pages 9 to 13 form an integral part of these financial statements. Page 7
Northern Lights Project Ltd Company limited by guarantee Balance sheet (¢ontinued) In approving these financial statements as directors of the company we hereby confinn: The company was entitled to exemption from audit under s477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime in accordance with FRSI02 SORP. Directo Director Date . 25 February 2025 Date . 25 February 2025 R¢glstratlon numbcr IY1638437 The notes on pages 9 to 13 form an integral part of these financlal statements. Page 8
Northern Lights Project Ltd Company limited by guarantee Notes to the financial statements for the year ended 31 May 2024 General information The charity is a private limited company by guarantee, registered in Northern Ireland and a registered charity in Northern Ireland. The address of tlie registered office is 5-7 Artillery StreeL Derry, B T48 6RG. 1.1. A¢¢ounting policies The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts. 1.2. AccountlDg convcntlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland Charities SORP 2019 (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), Companies Act 2006 and Charities Act (Northern Ireland)2008. The financial statements are prepared on a going concern basis under the historical cost convention, modified to included certain items at fair value. The flnancial statements are presented in sterling which is the functional currency of the charity. 1.3. Income resources Grants Grants represent all amounts received and receivable during the year. Revenue grants are credited to the Statement of Financial Activities in the year they are received. Sundry Income Tliis coinprised amounts of other income received during the year. 1.4. Resources expended Direct Charitable Expenditure This represents all expenditure directly attributable to charitable causes. Management & AdministrAtion This includes all other expenditure not directly allocated above and a portion of the overhead cost attributable to management and administration. Page 9
Northern Lights Project Ltd Company limited by guarantee Notes to the financial statements for the year ended 31 May 2024 Unrestrlctcd Restricted Total Income Incomo Funds 2024 Total Funds 2023 Incoming Resources 2024 2024 Incomln resources from charitable activities Arts Council Northern Ireland DSCDC PRS Foundation Arts Council Ireland Cleaver Fulton Rankin Ltd Donegal County Council Department of Tourism, Culture & Arts Creative Scot Nation 37,689 37,689 1,000 1,000 i 0,000 10,000 13,908 13,908 21,962 300 1,590 1,000 1,664 1.664 8,503 8,503 3.668 3,668 76,432 76.432 24,852 Volunt# Income Tick¢t income 3,783 3,783 2,444 3,783 3,783 2,444 Total 3,783 76,432 80,215 27,296 (i) Restricted Funds Funds received which are eannarked by the funder for specific purp05¢5. Such purposes are within the overall aims of the organisation. (il) Unrestrieted Fund5 Funds which are expendable at the discretion of the company in furtherance of the aims of the cliarity. In addition funds may be held in order to finance capital investment and working capital. Page 10
Northern Lights Project Ltd Company limited by guarantee Notes to the financial statements for the year ended 31 May 2024 2.2 Resources Expended Unrestricted Funds Restricted Funds Total 2024 Total 2023 Direct Charftable Expendlture Programme expenses Marketing expenses Insurance Depreciation 4,286 73,097 236 400 540 77,383 236 400 540 24,764 88 251 4,286 74,273 78,559 25,103 Unrestrlcted Funds Restricted Funds Total 2024 Total 2023 Management & Administration Accountancy Bank cliarges 1,067 91 1,067 91 973 116 1,158 1,158 1,089 Total Expendlturo 5,444 74,273 79,717 26,192 Taxatlon As a charity, Northern Lights Project Ltd is exempt from on income and gains falling within section 505 of tlie Taxes Act 1988 or s256 of the TatIon of Chargeable Gains Act 1992 to the extent that tli¢s¢ are applied to its chargeable objects. Page 11
Northern Lights Project Ltd Company limited by guarantee Notes to the financial statements for the year ended 31 May 2024 Fixtures, ritting5 and equipment Tangible fixed assets Total Cost Additions 2,699 2,699 At 31 May 2024 2,699 2,699 Dcproeiation Charge for the year At 31 May 2024 540 540 540 540 Net book v#luos At 31 May 2024 2,159 2,159 At 31 May 2023 Creditors: amounts fallfing due wlthln one year 2024 2023 Deferred incoine Accruals 5,875 1,787 28,408 720 7,662 29,128 Movements In Funds At l June Incoming Outgolng 2023 resources resources At 31 May 2024 Restricted funds: Charitable Activites 76,432 (74,273) 2,159 Totul restricted funds 76,432 (74,273) 2,159 Unrestricted funds: General funds 2,434 3,783 (5,444) 773 Total unrestricted funds 2,434 3,783 (5,444) 773 2,434 80,215 (79,717) 2,932 Page 12
Northern Lights Project Ltd Company limited by guarantee Notes to the financial statements for the year ended 31 May 2024 Rolated party transactions There were no related paty transactions in the year under review. Controlllng interest The controlling interest of the charitable company lies with the board of directors. Company Ilmlted by guarantee Northern Lights Project Ltd a company limited by guarantee and not having a share capital. Page 13