PANARTS FINANCIAL STATEI MENTS FOR THE YEAR ENDfi D 31 MARCH 2019
PANARTS FIf+lANCIAL STATEMEf4TS FOR THE YEAR TO 3111(ARCH 2019 ConteTtts Page Number Cliarity Infomjation Cotninittee Rert Accountant's Report Statement of Financial Activities Balance Sheet Notes to the Accounts 10-12
PANARTS REI GISTEI REI D CHAIUTY- NIC106590 Committee 31 MJrcli 2019 J Duffy (Clialrpeo} J Kelly (Vice Chairperson) L Gault (Secretary) RDilly A Grattan Accountants Gavin Reid and Coinpany Unit I 212-218 Upper Newtownards Road Belfast BT4 3ET Bankers First Trust Bank Limited 425427 Ortneau Road Belfast BT7 3GQ Business Address l Earlswood Road Belfhst BT4 3DY
PANARTS COMMtTTEI L REI PORT FOR THE PERIOD Ef4DID 31 MARCH 2019 Financial Statements The trustee (Management Committee) present their report and financial statements on tru51 funds for the period ended 31 March 2019. Objects of the Trust The objects of the trust are exclusively cli8rilable namely the education of the public in Northern Ireland in tlie relation to the advantages of cultural diversity and so to promote improved understanding of cultural traditions throllgli, in parEicular, the innovative Lise ofihe perfomiing arts. En pursuit ofsuch object the charity l. promute cross cultural arts projects 2. facilitate ¢ontacl between individuals and groups in a creative and unthreatening erivironment encourage dialogLte and demonstrate arts skills and help individuals to learn new ski115 in the perfomiing art5 4. provide training and education to develop existing arts ski115 and help individua15 to learn new skills in the performing arts establish national and intemlltional exchanges to educate and introduce individua15 to different cultures ond traditions Activities Period End 31 Mareb 2019 Since 199? Panarts li developed a variety of divetsity programmes and ivorked ivith community groups, schools. colleges, minority etlinic groupss public bodies and tnany musicians and artists. Some of the main activities Panarts presented during thi5 lime included: P&D&rts Young Songwriter of the Yeor Awnrd We were delighted to have a great Selection of young songwriters. from aerrS Northem Ireland, apply tr) be considered for this award. Our Tnedia partners Downtown Radio promoted tlie award and one of tl)eir main pre5enter5 Ivus a judge at the final in the Clayton Hotel during Il)e Belfast N18hville Songwriters Festival in Marcli 2019. The recipient of the award was Ronan Mcsorley who was presented witli a £3000 handcrafted guitar. donated to the charity by Avalon Guitars. bed in Newtownard5. Panarts Outreaeh Programme Froffl Noveinber ?018 we staged six live concerts at Foreslside Sliopping Centre, in South Belfast. Forestside is one of Panart5 sponsors and alloi¥ed to showcase new song writing talent, on Saturday aflernoons, wlien they have large numbers of shoppers in tlie eentre. This wa5 a great exposure for all t]ie artists taking part and the shoppers were able to hear lots of talented perfortner5. Up lo 18.000 shoppers visit the centre over the weekend and they also provide free prime advertising space for Panarts posters and pop-up banner5. PAnarts And Belmont (USA) International Culturlll Ei xchange Programme Over the past six years we've been developing our partnership with Belmont University in Na5hville. We now work closely with three of tlie univeIty Deparlmenls, Music, Film and Audio. The excliange takes place tliree times a year. March in Belfast and Marcli in Nashville and July in Belfast. 2019 In Marcli 2019 four staff and twenty students took part in the Belf&st Nashville Songwriters, Festiv. The sthdents perfomied on stage witli local songwriters and d)e four staff delivered worksliop5 at tlie Song Writing Convention. Twenty five students and five stiff look part in Panarts summer excliange. July 2019. The Students from Belmont wrote songs with the Pallts Young Songwriter of tlie Year finalists and they also performed
togetlier at a concert in the Ramada Hoiel. James EllioL lie8d of song writing at Belmont delivered a worksliop ivith a group of over tliirty local arlists. IS Paoart5 Beifa5t Nll5bville SoVriters Festival 6-10 Marcli 2019 The five day festival aims to: provide a platfornj to showc¢ local talent inspire Ilie public to ivriie songs and get involved in tlie arts h05t an international excliange programnie Over one Iiundred sonEWriters toolc parl and many of diem luunclied singles and EPS. Internation artists inclllding Jude Johnston, Jason Blume, Dana Cooper. Drew Ramsey and JaJne5 Elliot perfonned 'ln the Round, with local artists. Panarts are very proud of tlie ivork tliey do to help the careers of local songwriters and in Marcli ?019 we were deliglited to welcome back Ryan Mcmullan, who we shoivcased in botli Belfast and Nasliville. In an interview in 2018, Ryan wd: 'I launclied my debut EP willi tlie Belfast Nashville Songwriters, Festival in ?015. One of tlie main headliners Foy Vance came to my sliow. We started chatting and shortly after co-wrote a song together and he esked me to go on an American tour with hiTll in the sutntner. If that isn't an indication of what this festival cRn do for artists, I don't l(noiv what is. Over tlie year our media partner Downtown Radio were integral in lielping Panarts spread tlie word about our annual progrdmme, in particular tlie songwriters. festival. 'It was a pleasure for us as a radio station to be involved in such a ivell org&nised and suCC5ful event, Caroline Beatty. Downtown Radio & CoolFM Free showcasing events throughout the five days provided opportunities for songwriter5 to perfonn original songs and network with otlier MusiciES. Over tlie past three years we have worked witli the Dublin Songwriters Club and tlieir members have Showcased their music at tlie festival in March and Panarts staff ha5 delivered inforfflation sessions at their meetings in Dublin. I51 Panurts Song Writing ConventlOD Tlie Convention ivas lead by j0 Blutnq lilt song ivriter and author of many song iyriling skills books. Worksliops were f¢lso facilitated by Belmont Us]iversity Siaff wlio looked at sound recordin& making videos. writing good lyrics and melodies. A panel of experts including a representative from the Irisli Music Rights Organisation UMRO), professional 50ngwrit¢rs gave advice on touring and incotne Streams for songwrite. 15 ' Panllrts Belf8St SongFvriters Showcase In March ?019 we showcased three local songwriters N&hville Tennewee. Tlie artists wlio took part were, Rory Nelli5, Niamh Mc Glincliey* Allison McGrath. 115 cultural exchange included the songwriters performing their original songs in the famous Bluebird Café perfomiing with aivard winning hit 50ngwriters, Tony Ar8W Pat Alger, Victoria Banks, Phil Barton. Our local writers also co-wrote with Grammy Award winning song ivriters and Belmont University senior song writing students. Showcase perfonnances also look place in Belmont Univetsity and at NECAT television studios wliere the evening was filmed for broadcast. 'After five days in Nftshville. I Cl say I've made friend5 for life. I've learnt so much about myself, my style of ivriting and so many creative lips. Panarts is sucli amazing charity. it is keeping the culture, the arts and the Iiopes and dream5 Of 50ngwriter5 like myself, Rory and Allison alive each And every year.. Nillmh M¢Glinchey Mentoring Programme Tlvoughouttlie year. Panart5 staff met and gave advice to many loca] songwriters. We also helped a number of artists with fi]nding llpplications to the Arts Council of Northem Ireland and other funding organisRtiDn5.
We also set up co-writing sessions, in Belfast and Nashville. and organised radio appearances. Over fifteen years we have developed invaluable contacts in both Belfast and Nasliville that we can draw on to help local arti51s. Pan<lrts Partners During thi5 pericd, we Continued to worl( closely witli the partners lye have made over Ilie years and liave also developed new partnership5. We worked all year round wit]i many organisations, meeting and planiiing to involve them in our annual programme, Groups we have worl(ed ivitli include- Local Downtown Rlldio, Downtown Country & CoolFM Dawsons Music Belfast Clayton Hotel Events Management Team DootDoot Music Forestside Singer Songwriter Programme Frontier Music Club AER Music Belfast MET PArtllers: National & International Our National & Inlemational partners have travelled to Belfosl. at t]ieir own expense. to support the work of Panarts chlty ELnd many Northem Irish artists have benefited from their support over die past year. These groups include.. Belmont University Nasliville NECAT. Nashville Arts Television Network Broadcast Media Inc USA (BMI) Bluebird Café Nashville Irish Rights MusÉc A550ciation PRS for Mu51C Gold Mountain Artist Management Eleven Eleven Publishing Dublin Songwriters Club Charitllble Status In 2017 Panarts becatne a registered witli tlie Charity Commission forNortliern Jreland Ntcl 06590. The Panarts Board and staff ivisli to tliank our fiinder& spon50r5 and partners for their support and advice throughout tlie period. The Or anisotiollul and DecTsion Malun Structllre The Management Committee employ c(H)rdinators to overview and manage the programme5 and arts activities and report bnck to tlie cojnmittee on daily activities and developments. The co-ordinators direct and tnanage all activities to matcli witli tlie ethos of the organisation, All a¢tion5 and outmeS roll bacli intu tlie Management Committee Reviesv of the Tr&nsactions and P05itioD of Panarts Tlie Cliarity's funding has been applied to the objects specified by each project's fvndeTS. It Is the Charity's policy to meet all funding deficits by transfers from the balance of accllmulated unrestricted funds. Tlie Stalemenl of Financial Activities on page 8 indicates tliat the Cliarity liad resources expended of £52,007 in die period whicli exceeded incotning resources of £51 ?60. creating a deficit of £747. Tlie Balance Slieet at 31 March ?019 on page 9 shows a suiplus of Funds at that date oE£691.
No significant events liave occurred since tlie dale of Ilie Balance Sheet which affect the Cliarity on which materiaily affect t11e financial statements. By Order ofthe Management Committee FY CHAIIiPERSO
ACCOUNTANT'S REPORT TO THEI MANAGEMENT COMi1rrEl E ON THI UNAIJDITED rilNANCIAL sfATEMEI NTS OF PANARTS In accordance with our engBgemenl. and in order to assist you to fulfil your duties under the Companies Act ?006. we have compiled Ilie financial statement of Élie company wl)i¢li compris¢ tlie statement of financial activities, tlie balance slieet and tlie related notes from the books of account a1 infomation and explanations you liave given to U5. This report is made to the Charity's Management Committee in accordance witli tlie tenns of our engagement. Our ivork has been undertaken 50 tliat we might compile tlie financiRI st&tements that ive liave been engaged to compile, report to the Cliarity'5 Management Committee tlial we liave done so and stale iliose matters diat we liave agreed to state to tliem in Ili15 report and for no other purpose. To Ilie fullest extent permitted by law, we do not accept or assuine responsibility to anyone other than tlie Cliai-ity and tlie Cliarity's Managetnenl Cotnmittee, as a bDdyi for our work or for this report. We Iiave carried out tliis engagement in accordance with guidance issued by the Institute of Chartered Accountants in Lreland and have complied witli tlie etl)ical guidance laid down by the Institute r¢laling to members undertllking the compilation of financial statements. You liave acknowledged on tlie balance slieet for tlie year ended 31 Marcli 2019 your duty to ensure that the Charity lias kept proper books of account and to prepare financial statements tliat give a true and fair view under the Companies Act 2006. You consider tl)at tlie Cliarity is exempt from the statutory requirement for an audit for the period. We have not been instructed to carry out an audit of die financial 5tat¢ments. FDr this reason, we have not verified the accuracy or completeness of the accounting records or information and explanatio you have given to us and we do nol therefore, express any opinion on the financial statements. Gnvin Reid and Compllny ChArtered Accoulltllnts Unit I 212-218 Upper Neivtownards RoAd Belfast r4 3ET 6 December 2019
PANARTS STATEI MEI NT OF FINAPICIAL ACTtVlTIEI S FOR THE YEAR EI NDED 31 LIIARCH 2019 Total Funds 2019 Total Funds 2018 Note Ineome Funding receivable Ticket Sales and entrance fee5 39.008 50.440 Totlll Income 51,260 70,837 Expenditure Production expenditure Staff costs 53,863 10,7?9 17,?48 Administrative expenses Totlll Ei xpendlture (Deficit) for tlie period (747) (?46) Reserves brought forward at 31 MCh 2018 Reserves carried forward al 31 mcli ?019 1.438 Tiiere were no recognised gains or losses otlier than those included in the Statement uf Financial Activities above. The Notes ort pages 10 10 12 fomi part of tliese Accounts.
PAJ¥ARTS BALANCE SHEI ET AT 31 MARCH 2019 2019 2018 Current Assets Debtors PPaYMents Bank account5 C&sh in liand 7,782 42? 13.163 13.490 424 13,432 1,200 21,367 28.546 Current Liabilities- Amounts Ftslling Due Ivitbin One Year Trade credito Accruals Otlier creditors 13,262 752 19,933 707 ?0.676 Net Current Assets Represented by: Revenue Reserves These Financial Statements are signed on behalf of the Cliarity a5 a result oftheir approval by the Management Committee at their meeting on 6 December ?019. DILLY SECRETARY ERSON
PANARTS NOT£1 S TO THEI ACCOUNTS 31 MARCH 2019 AccouRting Policies Accounting Convention Tl)e Accounts have beeii pi'Bpared under the historical cost convention and in accordance with applicable accounting standards. B&sis ofAecollnting Revenue Grants arE credited to the income and expenditure account on an accruals basis. Resources Ei xpended 11 is considered tliat. witli the exception of m&nagetnent and administration costs and costs generating funds, all sUPPOrt costs are part of the total expenditure directly relating to the objects of tlie Charity. Managetnent and Administration eosts are bBsed on die cost of staff time spent on these a¢livities and includes 5alarie5 and an appropriate proportion of certain support costs. io
PANARTS r40TES TO THE ACCOUNTS 31 MARCH 2019 Income 2019 2018 Fundin Receivable Atts Council For Northern Ireland Forestside Sliopping Centre Bauer Radio Other donations Arts and Business Nt Queens Universlty Belfast 35,838 3,000 1,000 200 (430) 600 3?,691 3.000 i.ooo 185 12,7LKI 864
PANARTS NOTEI S TO THE ACCOUNTS 31 IIQiRCH 2019 Expenditure 2019 2018 Production Ex enditure Perfortner and production costs Commission payable Insurance Advertising Equipment Costs 21.210 971 702 3,897 44.261 1,536 677 7.389 Admlnlstrlltive Ex enses Heat and liglit Printing, postage and stationery Telephone Computer costs Motor and travel Accountancy Bank and credit card charges Gener 95? 2320 747 1.125 106 475 449 1.505 660 1.006 196 660 959 976 12