Artsawonder
Annual Report and Audited Financial Statements
for the financial year ended 31 March 2025
John MacMahon & Co.
Chartered Accountants and Registered Auditors 112 Camlough Road Newry Co. Down BT35 7EE Northern Ireland
Charity Number: 107564
Artsawonder CONTENTS
| Page | ||
|---|---|---|
| Reference and Administrative Information | 3 | |
| Trustees' Report | 4-5 | |
| Statement ofTrustees' Responsibilities | 6 | |
| . | ||
| Independent Auditor's Report | 7-9 | |
| Statement of Financial Activities | 10 | |
| Balance Sheet | 11 | |
| NotestotheFinancialStatements | 12-17 |
SSSSSS
Artsawonder REFERENCE AND ADMINISTRATIVE INFORMATION
Trustees
Catherine Bescond Sands
Mary Bernadette Verner (Resigned 12 April 2024) Jennifer Lawson Clarke (Resigned 1 September 2024) William Knox Graham (Resigned 15 May 2025) Gabriel Scally Ciara Foster
Charity Number in Northern Ireland
Principal Address
Auditors
Principal Bankers
107564
50 Shore Road Rostrevor Co. Down BT34 3AA Northern Ireland
John MacMahon & Co. Chartered Accountants and Registered Auditors 112 Camlough Road Newry Co. Down BT35 7EE Northern Ireland
AIB 96 Clanbrassil Street Dundalk Co. Louth A91 DT86 Ireland
Ulster Bank Limited 86 Hill Street Newry Co. Down BT34 1BT Northern Ireland
3
Artsawonder TRUSTEES' REPORT
for the financial year ended 31 March 2025
The trustees present their Trustees’ Report and the audited financial statements for the financial year ended 31 March 2025.
The financial statements are prepared in accordance with the Charities Act (Northern Ireland) 2008, 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 Statement 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 Artsawonder present a summary of its purpose, governance, activities, achievements and finances for the financial year 31 March 2025.
Mission, Objectives and Strategy
Mission Statement
In all activities the Charity Trustees have had regard to the Charity Commission for Northern Ireland’s statutory public benefit guidance to ensure that activities entered into during the year have helped to achieve the charity’s aims and objectives as well as providing public benefit.
Objectives
Purpose of Charity
1: To facilitate events and process which create the space for transformative dialogue, utilising the potential of the arts for healing and mutual understanding directed at specific groups of leaders or/and local civil society in N. Ireland.
2: To advance education, to promote understanding and citizenship utilising the potential of the arts for healing and mutual understanding directed at school groups from primary to secondary level, in the local area and the rest of N. Ireland curriculum, in particular to school groups with a view to encouraging civic leadership.
Main activities undertaken by the charity are:
During the period covered by this report Artsawonder carried out the following activities:
The Rostrevor Group continued to meet with 4 face to face meetings, 1 Zoom meeting and one meeting held in Dublin. These are private meetings of former elected politicians reflecting on the current political situation and using their circle of influence to foster Peace and Reconciliation. The project was funded by the International Fund for Ireland.
Ongoing Conversations: 2024 saw the preparation for the project: 6 meetings a year for 20 to 25 young politicians from Ireland and the UK. Preparation included employing a part time project co-ordinator, a facilitation training weekend and sourcing the participants. 4 week end meetings took place up to March 2025 in Newry, Monaghan, Derry and Warrenpoint. The project was funded by the International Fund for Ireland.
Artshealing: This pioneering project consists of an afternoon seminar and an evening event “Music of Healing” with leading Academics and Practitioners and artists looking at the contribution Arts and Music can make to the wellbeing of society and how it can help Peace and Reconciliation. Open to the public, the seminar examines the historic relationship between medicine and music, bringing us up to date with the very latest scientific evidence available. Contact is being established with an American organisation to explore the role of music on conflict resolution with Artsawonder participating in a seminar and a conference. This project is funded by private donors.
Diversity Summer Camp: This project is designed for children aged 6 to 15 years old. It brings together children from different nationalities, religions and ethnicities, through games, crafts, arts and sports. They discover different cultures with respect and interest. The wealth offered by a variety of cultures was highlighted. This project was funded by Peace 4 through Newry Mourne and Down District Council.
Kinship of Difference is a programme that goes out into the various communities and celebrates the hidden possibilities of togethemess. The first event took place in Lisburn with “linen” as the theme. The second event was in Co Cavan and it celebrated Orange Heritage South of the border.
This year Artsawonder spent signicant studying new projects, establishing new contacts and looking for funding which will increase activities in the future.
4
Artsawonder TRUSTEES' REPORT
for the financial year ended 31 March 2025
Structure, Governance and Management
Structure
Organisational Structure
The committee members are made up of the Charity Trustees and volunteers. The trustees are responsible for the day to day running of the charity.
The trustees are chosen according to their interest in Peace and Reconciliation in Northern Ireland.
Governance
The principal document regarding governance of the charity is the constitution. The charity is an unincorporated organisation.
Review of Achievements and Performance
During all activities, the direct beneficiaries are those taking part in the events and those in the audience. The secondary beneficiaries are those in the circle of influence of participants.
The Rostrevor Group and the Ongoing Conversations programme are not public events but benefits are expressed through circles of influence and ultimately to the wider cohort of end beneficiaries which is the citizenry of Northern Ireland.
The Diversity Summer Camp fosters a greater intercultural awareness among a younger population, increasing confidence and respect in each community's own cultural and artistic identity.
The Artahealing projects involve academics and add a more scientific affirmation to the intuitive knowledge that arts and music have a role to play in Peace and Reconciliation.
Kinship of Difference fosters a greater intercultural awareness increasing community confidence in each community's own cultural and artistic identity, thus promoting respect for the cultural and identity of other communities.
Any private benefit gained by these activities were incidental and necessary to the running of the activities.
Financial Review
The results for the financial year are set out on page 10 and additional notes are provided showing income and expenditure in greater detail.
The charity had income of £83,252 and expenditure of £85,945 resulting in a deficit of £2,693.
Results
At the end of the financial year the charity has assets of £55,180 (2024 - £13,335) and liabilities of £44,538 (2024 - £0.00). The net assets of the charity have decreased by £(2,693).
Reserves Position and Policy
Reserves Policy
The charity had a restricted deficit of £2,257 and unrestricted reserves of £12,899 at 31 March 2025. Restricted funds were in deficit of £2,257 as the charity did not receive the grant to cover these costs until post year end. Artsawonder have a reserves policy, which requires that reserves are built or maintained at a level which ensures it can carry out its purposes consistently year on year. The reserves are used to further the aims of the charity.
Approved by the Board of Trustees on 26 January 2026 and signed on its behalf by:
Catherine Bescond Sands Trustee
5
Artsawonder STATEMENT OF TRUSTEES' RESPONSIBILITIES
for the financial year ended 31 March 2025
The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations.
The law applicable to charities in Northern Ireland requires the trustees to prepare financial statements for each financial year which give a true and fair view of the assets, liabilities and financial position of the charity as at the financial year end date and of the surplus or deficit of the charity and otherwise comply with the Charities Act (Northern Ireland) 2008.
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 concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees confirm that they have complied with the above requirements in preparing the financial statements.
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. 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.
Approved by the Board of Trustees on 26 January 2026 and signed on its behalf by:
Catherine Bescond Sands Trustee
6
INDEPENDENT AUDITOR'S REPORT to the Members of Artsawonder
Report on the audit of the financial statements
Opinion
We have audited the charity financial statements of Artsawonder (‘the charity’) for the financial year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet 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 Standards, 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 2025 and of its deficit 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 Charities Act (Northern 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 Matter
The comparative figures were not audited, as an audit was not required for the financial year ended 31 March 2024.
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 information 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 assurance 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 otherwise 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 report that fact. We have nothing to report in this regard.
7
INDEPENDENT AUDITOR'S REPORT to the Members of Artsawonder
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015 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 - theinformation given in the trustees’ report is inconsistent in any material respect with the financial statements; or - we have not received all the information and explanations we require for our audit.
Responsibilities of trustees for the financial statements
As explained more fully in the Statement of Trustees' Responsibilities set out on page 6, 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 to fraud or error, and to issue an Auditor's Report that 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:
An appropriate materiality level was determined and used to assess the risks of material misstatement in the financial statements and areas of highest risk. Steps were taken to determine how fraud may occur by enquiring of management of its own consideration of fraud and identifying procedures taken to mitigate such risks. Consideration was also given to the possibility of opportunity and motivations for fraud. In doing so we assessed the risk of management override of internal controls by assessing for evidence of bias which may result in material misstatement. Our tests included agreeing the financial statements disclosures to underlying supporting documentation and enquiries with management.
Audit tests were designed with a focus on areas where management are required to make subjective judgements. This includes the review of significant accounting estimates for reasonability and an independent assessment of the risks around future events that are inherently uncertain. As part of the planning process, we identified the internal controls established to mitigate risks related to fraud or noncompliance with laws and regulations and how management monitor these processes. Appropriate procedures included the review and testing of key estimates and judgements made by management. We made enquiries of management with regards to compliance with relevant laws and regulations (including but not limited to employment and taxation laws). Records and files were examined over the course of the audit with a mind to ensure cases of non-compliance were identified.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
8
INDEPENDENT AUDITOR'S REPORT to the Members of Artsawonder
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 scepticism 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 internal contro! 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 charity's internal control.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by trustees.
-
Conclude on the appropriateness of the trustees' use of the going concern 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. If we conclude that a material uncertainty exists, we are required to draw attention in our Auditor's 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 concern.
-
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.
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 trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations (Northern Ireland) 2015. Our audit work has been undertaken so that we might state to the charity's trustees 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 trustees as a body, for our audit work, for this report, or for the opinions we have formed.
John MacMahon FCA
JOHN MACMAHON & CO. Chartered Accountants and Registered Auditors 112 Camlough Road Newry Co. Down BT35 7EE Northern Ireland
26 January 2026
9
Artsawonder STATEMENT OF FINANCIAL ACTIVITIES
for the financial year ended 31 March 2025
| Unrestricted | Restricted | Total | Unrestricted | Restricted | Total | ||
|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | Funds | Funds | ||
| 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | ||
| Notes | £ | £ | £ | £ | £ | £ | |
| Income | |||||||
| Donations and legacies | 4.1 | 11,131 | 70,691 | 81,822 | 3,636 | 19,608 | 23,244 |
| Charitable activities | |||||||
| Income from charitable | 5.1 | 1,430 | - | 1,430 | 1,880 | - | 1,880 |
| activities | |||||||
| Total income | 12,561 | 70,691 | 83,252 | 5,516 | 19,608 | 25,124 | |
| Expenditure | |||||||
| Charitable activities | 6.1 | 4,001 | 81,944 | 85,945 | 4,198 | 28,255 | 32,453 |
| Net income/(expenditure) | 8,560 | (11,253) | (2,693) | 1,318 | (8,647) | (7,329) | |
| Transfers between funds | - | - | - | - | - | - | |
| Net movement in funds for | 8,560 | (11,253) | (2,693) | 1,318 | (8,647) | (7,329) | |
| the financial year | |||||||
| Reconciliation offunds: | |||||||
| Total funds beginning ofthe | 13 | 4,339 | 8,996 | 13,335 | 3,021 | 17,643 | 20,664 |
| year | |||||||
| Total funds atthe end of | 12,899 | (2,257) | 10,642 | 4,339 | 8,996 | 13,335 | |
| theyear |
The Statement of Financial Activities includes all gains and losses recognised in the financial year. All income and expenditure relate to continuing activities.
The notes on pages 12 to 17 form part of the financial statements
10
Artsawonder BALANCE SHEET
as at 31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Notes | £ | £ | |
| Fixed Assets | |||
| Tangible assets | 9 | 1,278 | - |
| Current Assets | |||
| Debtors | 10 | 33,342 | - |
| Cash at bank and in hand | 20,560 | 13,335 | |
| 53,902 | 13,335 | ||
| Creditors: Amounts falling due within one year | 11 | (44,538) | - |
| Net Current Assets | 9,364 | 13,335 | |
| Total Assets less Current Liabilities | 10,642 | 13,335 | |
| Funds | |||
| Restricted funds | (2,257) | 8,996 | |
| General fund (unrestricted) | 12,899 | 4,339 | |
| Totalfunds | 13 | 10,642 | 13:335: |
Approved by the Board of Trustees and authorised for issue on 26 January 2026 and signed on its behalf by
----- Start of picture text -----
' |
(A S Las
Catherine Bescond Sands
Trustee
----- End of picture text -----
The notes on pages 12 to 17 form part of the financial statements
11
Artsawonder NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2025
ts GENERAL INFORMATION
Artsawonder is a charity registered in Northern Ireland. The registered office of the charity is 50 Shore Road, Rostrevor, Co. Down, BT34 3AA, Northern Ireland . The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the charity.
The financial statements are for the individual entity Artsawonder for the year ended 31 March 2025.
The charity is a public benefit entity.
- 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.
Statement of compliance
The financial statements of the charity for the financial year ended 31 March 2025 have been prepared in accordance with the Statement of Recommended Practice (SORP) issued in 2019 "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" and with the Charities Act (Northern Ireland) 2008.
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
Unrestricted 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 ofparticular services to be provided by the charity. Income from government and other 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 funding 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.
12
continued
Artsawonder NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2025
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 whena 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:
Fixtures, fittings and equipment
25% 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.
Creditors
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event, which will probably result in the transfer of economic value to a third party, and the amount due to settle the obligation can be reliably measured or estimated. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due and at their present value where the time value of money is deemed significant. Funds already received from government agencies and other co-founders that do not meet the criteria for recognition as income, are shown in creditors.
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.
Taxation
No current or deferred taxation arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred.
Foreign currencies
The financial statements are prepared in Pound Sterling (£) which is the functional currency of the charity. Foreign currency transactions are recorded in Pound at the rate ruling on the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into Pound at the balance sheet date. The resulting gains and losses are dealt with in the Statement of Financial Activities.
3.
SIGNIFICANT ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY
In the application of the Charity's accounting policies, the Trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
Depreciation and amortisation
The trustees exercise judgement in the determination of the useful economic lives and residual values off all fixed assets. These assets are then depreciated over their useful economic lives to their residual values.
AB
continued
Artsawonder NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2025
| 4. | INCOME | ||||
|---|---|---|---|---|---|
| 4.1 | DONATIONS AND LEGACIES | Unrestricted | Restricted | 2025 | 2024 |
| Funds | Funds | ||||
| £ | £ | £ | £ | ||
| Donations and legacies | 11,131 | - | 11,131 | 3,636 | |
| Grants received | - | 70,691 | 70,691 | 19,608 | |
| 11,131 | 70,691 | 81,822 | 23,244 | ||
| 5. | RESTRICTED GRANT INCOME | 2025 | 2024 | ||
| £ | £ | ||||
| Community Relations Council | - | 1,934 | |||
| Department of Foreign Affairs; Reconciliation Fund | - | 13,474 | |||
| Newry, Mourne & Down District Council | 1,000 | 4,200 | |||
| International Fund For Ireland | 69,691 | - | |||
| 70,691 | 19,608 |
| The grantfrom the International Fund for Ireland was | The grantfrom the International Fund for Ireland was | used for the RostrevorGroup and Ongoing | used for the RostrevorGroup and Ongoing | used for the RostrevorGroup and Ongoing | Conversations | |
|---|---|---|---|---|---|---|
| project. | ||||||
| 5.1 | CHARITABLE ACTIVITIES | Unrestricted | Restricted | 2025 | 2024 | |
| Funds | Funds | |||||
| £ | , | £ | £ | |||
| Income from charitable activities: | ||||||
| Income from charitable activities | 1,430 | - | 1,430 | 1,880 | ||
| 6. | EXPENDITURE | |||||
| 6.1 | CHARITABLE ACTIVITIES | Direct Costs |
Other Costs |
Support Costs |
2025 | 2024 |
| £ | £ | £ | £: | £ | ||
| Other Expenses | 5,000 | 2,124 | - | 7,124 | 4,164 | |
| Staff Costs | 14,000 | - | - | 14,000 | - | |
| Venue Hire | 42,657 | - | - | 42,657 | 22,436 | |
| Programme Costs | 16,788 | - | - | 16,788 | 3,259 | |
| Support Costs | 2,526 | - | 741 | 3,267 | 570 | |
| Travel Costs | 2,109 | - | - | 2,109 | 2,024 | |
| 83,080 | 2,124 | 741 | 85,945 | 32,453 | ||
| 6.2 | SUPPORT COSTS | Charitable | 2025 | 2024 | ||
| Activities | ||||||
| £ | £ | £ | ||||
| Insurance | 408 | 408 | 383 | |||
| Computer Costs | 204 | 204 | 187 | |||
| Advertising | 129 | 129 | - | |||
| 741 | 741 | 570 |
14
continued
Artsawonder NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2025
| ts | NET INCOME | 2025 | 2024 |
|---|---|---|---|
| E | £ | ||
| Net Income is stated after charging/(crediting): | |||
| Depreciation oftangible assets | 112 | - | |
| Deficit/(surplus) on foreign currencies | 466 | - | |
| Auditor's remuneration: | |||
| -auditservices | 5,000 | - |
- EMPLOYEES AND REMUNERATION
Number of employees
The average number of persons employed (including executive trustees) during the financial year was as follows:
| 2025 | 2024 | |
|---|---|---|
| Number | Number | |
| Staff | 1 | - |
| The staff costs comprise: | 2025 | 2024 |
| £ | £ | |
| Wagesandsalaries | 14,000 | - |
There were no employees who received total employee benefits of more than £60,000 during the financial year.
- TANGIBLE FIXED ASSETS
| 9. | TANGIBLE FIXED ASSETS | ||
|---|---|---|---|
| Fixtures, | Total | ||
| fittings and | |||
| equipment | |||
| £ | £ | ||
| Cost | |||
| Additions | 1,390 | 1,390 | |
| At 31 March 2025 | 1,390 | 1,390 | |
| Depreciation | |||
| Charge forthe financial year | 112 | 112 | |
| At 31 March 2025 | 112 | 112 | |
| Net book value | |||
| At 31 March 2025 | 1,278 | 1,278 | |
| 10. | DEBTORS | 2025 | 2024 |
| £ | £ | ||
| Prepayments and accrued income | 33,342 | - | |
| 11. | CREDITORS | 2025 | 2024 |
| Amounts falling due within one year | £ | £ | |
| Accrualsanddeferredincome | 44,538 | - |
Deferred Income of £39,538 relates to an advancement of a grant from the International Funds for Ireland.
15
continued
Artsawonder NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2025
- RESERVES
;
| 2025 | 2024 | |||||
|---|---|---|---|---|---|---|
| £ | £ | |||||
| At the beginning ofthe year | 13,335 | 20,664 | ||||
| Deficit forthe financial year | (2,693) | (7,329) | ||||
| At the end ofthe year | 10,642 | 13;335 | ||||
| 13. | FUNDS | |||||
| 13.1 | RECONCILIATION OF MOVEMENT IN FUNDS | Unrestricted | Restricted | Total | ||
| Funds | Funds | Funds | ||||
| £ | £ | 3 | ||||
| At 1 April 2023 | 3,021 | 17,643 | 20,664 | |||
| Movement during the financial year | 1,318 | (8,647) | (7,329) | |||
| At 31 March 2024 | 4,339 | 8,996 | 13,335 | |||
| Movement during the financial year | 8,560 | (11,253) | (2,693) | |||
| At 31 March 2025 | 12,899 | (2,257) | 10,642 | |||
| 13.2 | ANALYSIS OF MOVEMENTS ON FUNDS | |||||
| Balance | Income | Expenditure | Transfers | Balance | ||
| 1 April | between | 31 March | ||||
| , | 2024 | funds | 2025 | |||
| £ | £ | £ | £ | £ | ||
| Restricted funds | ||||||
| Restricted | 8,996 | 70,691 | 81,944 | - | (2,257) | |
| Unrestricted funds | ||||||
| Unrestricted General | 4,339 | 12,561 | 4,001 | - | 12,899 | |
| Totalfunds | 13,335 | 83,252 | 85,945 | - | 10,642 |
Restricted Funds
Restricted funds were in deficit of £2,257 at the 31 March 2025. The charity did not receive the grant to cover these costs until post year end.
13.3. ANALYSIS OF NET ASSETS BY FUND
| Fixed | Current | Current | Total | |
|---|---|---|---|---|
| assets | assets | liabilities | ||
| - charity use | ||||
| £ | £ | £ | £ | |
| Restricted funds | 1,278 | 41,003 | (44,538) | (2,257) |
| Unrestricted general funds | - | 12,899 | - | 12,899 |
| 1,278 | 53,902 | (44,538) | 10,642 |
16
continued
Artsawonder
NOTES TO THE FINANCIAL STATEMENTS
for the financial year ended 31 March 2025
14. RELATED PARTY TRANSACTIONS
None of the trustees have been paid any remuneration.
Three trustees had expenses reimbursed or paid by the charity for travel totalling £1,650 during the financial year.
The charity received a donation of £120 from a trustee.
During the financial year a spouse of a trustee was paid £5,430 for facilitation of music at various events. No amounts were owed at the year ended 31 March 2025.
17