Company No. NJ643254 KARMA THEAITrE COMPANY LIMrrED DIREcfoRS' REPORT AND FINANCIAL STATEMENTS YEAR ENDED I JANUARY 2019 KARMA THEATRE C ANY LIMITED Lb.GAI. AND ADMINJSTRATIVE INFORMATION Page DIRECTORS REPORT ACCOUNTANTS, REPORT STA TfMF.NT OF FINANCIAL ACTIVITIES BALANCE S14FET NOTES TO THE FINANCIAL STATEMENTS KARMA THEATRE COMPANY LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Directors Kathryn Baird Colm Doran Kevin Gajlagher David Grant Company Number N1643253 Main Actuivity Perforn?ing Arts I raining Registered OffKe 25 Ardmore Avenue Finaghy Road North Belfast BTIO OJP Reporting Aeeountanti DMW Accountants (2011) Limited Townsend Enterprisc Park Townsend Stre¢t Belfast BI'13 2ES Business Addresj 25 Ardmore Avenue Fxna8hy Road North Bclfast BTIO OJP Bankers Danske Bank Kennedy Centre 564_568 Fajls Road Belf> BTII 9AE K4RMA THEATRE COMPANYLIMITED DIRECTORS REPORT Review of Aetivities and Aehievements Kamia Theatre Company Limited promotes community development through the arts in Belt'ast. To achieve this the organisation Works in partoership with the community groups and schools to deliver besrKJke Lommunity arts workshops in local venues. The Directors are ple￿d With the results of the organisation both from a community arts and financial management perspectivc. Direeton, Responsibilltles Company law requires the Directors to prepare financial statements for each financial year which grive a true and fair view of the stste of affairs of the company for that period. In preparing those linancial statements. the DirectOTS are required to: - SL'lcLt suitable accounting policies and then apply them o)n5iStently; - muk¢ judgements and esiimates that are reasonable and prndent. - stale whether applicable accounting standards and sthtements of ￿CoMMended practice have been t'ollowed subject to any departures disclosed and explained in the financial statements - prepare the financial statements on the going concern b&si5 unless il is inappropriate to presume that the Company will Continue in business The Dtrectors havc overall resN)nsibility for ensuring that the company h*$ appropriate sys*m of controls. financial and otherwise. They are also res￿nSIble for keepin8 proper accounting records w'hich disclose with reasonable accuracy at any tiDk the financial WJ5ilion of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. 1.hey a also respon.8ible for safeguarding the a5Sds of the charitv and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Directors recommend that DMW Accountants (2011) Ltd remain in office until further notice. I'his report was approved by the Directors on 22Thf October 2019 and sign&1 on its behalf by.. Kevin Gallagher Director Accountants, Report on the unxudited financial statements to the Directors of Karnii Tbeatre CompaDy Llmited We have compiled the financial statements for the year ended 31 January 2019 set out on Pages 3 to 8. Respectlve rejponsibilities of Directon and Accouht•Dts As described on page the Directors are resFK)nsible for ensuring tbai the company maintains proper boi)ks ot account and for preparing financial statements which glve a trne and fair view and have been pruperly Prepared in accordance with the Companies Act 2006. You are reswnsible for decidin&). on an annual b&sis, whether the company is entitled to avail of the exemption from statutory audit in accordancc with the Companies Act 2006. It is our resEK)nsibility to compile the financial ststements of Karnja Thealre Company Limited from the accounting records, infomiation and explanations supplied to us by the company. Scope of Work We have c()mpiled the financial statements in accordance with the ICAI Miscellaneous Technical .%tatement "Compiling and Rew)rting on Financial Statrments nol subject lo Audit" . MI 4 - from the iICLounltn¥ records. inforniation and explanations supplied to us by thc company. We ha￿e not audited or oiherwise attempted to verify the accuracy or completeness of such records, int'ormalion and explanations and, acLordingly, express no opinion on the financial ststements. DMW Aecountants (2011) Ltd Townyend Enterprise PArk Townsend Street Belfast BT13 2ES Date: 22￿d Oetober 2019 JNCOME & EXPEND ED ACCOUN7 2019 Strand Arts Council Art.8 C'ouncil Qiii/.- Fund Raising Interest 688 Total Jneome 688 Less Ex enditure Artists Fees & Expenses NIC'VA Subscription Bank P*s Total Expensej Net Surpluj Incomel(Deficit) (854) (166) KARMA THEATRE COMPAIYY LIMITED BALANCE SHEET AS AT 31 MAY 2019 2019 Notes Cash at Bank and In Hand 50 50 Creditors: Amounts falllng due within one year 50 Net Current Asgets Net Assets 50 50 Funds Accumulated Funds 50 50 The Directors Ststements by the Companies Act 2(X16 arc shown on the following page which fornis part of this Balance Sheet. The notes on Page 8 forni an integral part of these fin4nci¥l Jtstements. KARMA THEATRE COMP YEAR ENDED 31 JAN CONTINUED ARY 2019 In approving these financial statements &8 Directors of the company we hereby confirni.. (a) thai tor the year stsled al)ove the company was entitled to the exemption conferrpAI by the Companies Act 2006 {b) that no notice h&5 tren deposiled at the registered offir£ of the company ￿queSting that an audit be conducted for the year ¢nded 31 January 2019 and {c) that we acknowledge our responsibililA¢S for". ( l ) ensuring that the company keeps accounting records which comply with the Companies Act 2006 and (2) preparing fInancial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of ils profit or loss for the year then cnded in accordance with the requirements of the Companies Act 2006 relating to financial .8tatements. so far ￿ applicable to ihe company 7.he financial statements were approved by thc Board on 22 October 2019 and Signed on its behalf by Kevin Gallagher Dfirector The notes 8 to 9 form ax knteEral PArt of these fiMawKal xtstements. NOTES TO THE FINANC TAT ENDED 31 Aceounting Polld 1.1. Accounting Convendon The financiaI statements are preprnl unts th¢ historical cost convention and in accordance with the Financial Rq)orting Standard for Smaller F￿titieS (effextive June 2002). ia. Ineomkng Re•ollree8 Grall￿ including WAts for the purchase of fix￿ asset4 are reco8Oi8al in full in the Statement of Financial Activiti&8 in the year in which they arc rettivabl& IJ. Resour¢eg Expended Re8ourc¢8 expend￿ are re¢o8ni8oa in the year in whi¢b th¢y are in¢urr￿. Fundraising Costs are those inarrol in sttking voluntary (x)ntnThutions do not include the costs of disseminatsn8 infonnation in SUP￿ of any charitable activities. Support costs are those costs inotrred diredy in s￿ort of expthjitwe on the objects of the Compmy and itKlude proj* rnan￿￿L