CHARITY REGISTRATION NUMBER: NIC108270 Enniskillen Drama Festival Unaudited Financial Statemprits 31 July 2024 CRUDDEN DOLAN LIMITED Chartered accountants 23-25 Barling Street Enniskillen Co. Fermanagh Northern Ireland BT74 7DP Enniskillen Drama Festival Financial Statements Year ended 31 July 2024 Page Trustees, annual report (incorporating the director's report) Indeperydent examirier's rrporti to the trustees Statement of finannial Activitieb (inc,dding income and expenditure accouri.t) Statement of financial position 14utes to the financial statements Enniskillen Drama Festival Trustees. Annual Report (Incorporating the Director's Report) Year ended 31 July 2024 The trustees, present their report and the unaudited financial statements of the charity for the year ended 31 July 2024. Reference and administrative details Registered chai ity name 'l!tsn Drama Festival Enniqki: Charity registration number NIC108270 Principal office and registered Fermanagh House office Broad Meadow Enniskillen Co Fermanagh BT74 7HR The trustees Stefan Bukowski Paul Dohety Amanda Finch Brian Farry Dave Rees Christine Irvine Tracey Kernaghan Independent eXa￿..ner Crudden Dolan Ltd 23-25 Darling Street Enniskillen Co Fermanagh Northern Ireland BT74 7DP Structure, governance and management The organisation is run by committee. Objectives and activities The purposes of the Enniskillen Drama Festival are to encourage and promote dramaltheatre in the Fermanagh area thro gh the presentation of Feitival(sl Enniskillen Drama Festival Trustees, Annual Report (Incorporating the Director's Report) (¢onlinuedJ Year ended 31 July 2024 The trustees have worked hard this yedr after 2023 where the festival took a fiiiancial hit. A reduction in sponsoiship from Fermanagh & Omanl Di¥tri¢t Council IFODC), I0￿er nightly .orJonsorship number. and flat ticket sales alongside an increase in costs in almost every area, meant the continuation of the festival needed new ideas and new tactics in generating income. The trustees are grateful to the incredible work of the Festival Director in working with Arts & Business Nl, Arts Council Nl, ADC! and coiJntiess local businesses to understand how best tc INork "èith tilebe organisations to ensure sustainability for the festival. In addition, working with FODC to return sponsorship to the previous levels. Reworking the sponsorship packages ana the overall offering to local business. alongside council ano other statutory agencies, to communicate the benefits of not just the festival, but the arts in general in Fermanagh has meant a change in the financial outlook of the festival and the Wcjy It is supported. The support of these organisations, particularly the main sponsors of the 2024 festival, with not just financial assictance but vocal and sustaine(i oUPPOrt in promoting the arts and the benefits of participation and interacticn with the arts, has been a boon to the sustainability and Ioiig-term viability of the festival. A cnange to ticket prices. whilst not something tile committee nave usually considered, having held prices for almost 6 years, was accepted by our audience a necessary part of ensuring our survival and sales reflected that agreement, with an increase in audien￿ numbers to a level more in keeping with pre-pandemic levels. Encouraging local drama groups to engage and participate, alongside working with local artists. and nationally based practitioners to create an offering outside of the 9-days in March has been instrumental in changing the fortunes of the Enniskillen Drama Festival, in an environment where a number of festivals have removed themselves from the All-lreland circuit due to immense financial and resource pressurea. The introductior. of the first l-Act fe- .tival in Enniskillen in November 2024 as well as the targei of hosting the All-lreland .3-Act Confined final in 2030, is a testament to the ambitioD of the trustees to solidifying Lhe Enniskillen Drama Festival over the next 10 years. It has been a positive year and one we hope will be a starting point for further success in the next few years. Fir.ancial review Having obtained fundina from various sources, togetlLer with public and private donations, the organisation has been able to ni.aintain sufficient cash flow to continue operations uninterruptpd. The trustees, annual rer)ort was approved on 3rd December 2024 and signed on beh.alf of the board of trustees by.. S Bukowski (Treasurer) Trustee Rees (Chair! Trustee Enniskillen Drama Festival Independent Examiner's Report to the Trustees of Enniskillen Drama Festival Year ended 31 July 2024 I report to the trustees on my examiiiation of the financial statements of Eii niskillen Drama Fesiival ('the ckiarity'l for thp year ended 31 JL,.,. 2G24. Responsibilities and basis of report As the trustees of the organisation, you are responsible for the preparation of the financial statements in accordanbe with the requiremeni- of Charities Acts {Northern Ireland} 2008 & 2022. You 3re satisfied that the accounts are not required by charity law to be audited and have chosen instead to have an independent examination Having satisfied myself that the accoup,ts of the organisation are not required to bv audited, I report in respect of Imy examination of the charity's financial statements as carried out under section 65 of the 2008 Act. In carrying out my examination I have followed the general Directions given by the Charity Commission for Northern ireland under sectien 65(9)(bl of the 2008 Act. -tatement Independent examiner"s - I have completed my e.xamination. I confir￿, that no matters have come to my attention in connection with my tsxamination giving me cadse to believe that in any il?.tKJrial raspect.. accounting records were not kept in respect of the charity as required the financial statements do not accord with those records; or the fir,ancial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). ! confirm that tfriere are no other matte,'s to which your attention should be drawn to enable a proper understanding of the accounts to be reached. Catherine Crudden Crudden Dolan Ltd Independent Examiner 23-25 Darling Strka•et Enniskillen Co. Ferman=gh Northern Ireland BT74 7DP Enniskillen Drama Festival Statement of Financial Activities (including income and expenditure account) Year ended 21 July 2024 Total Funds 2024 Total Funds 2023 Unrestricted funds Restricted funds Note Income Donations and legacies Grants Interest on deposited funds Other incgme 5,800 5,800 1,320 32 11,429 1,500 3,000 37 6,362 1,320 32 Total income 17,261 1,320 18,581 10,899 Expenditure Direct charitable activity Governanfte Costs Other Costs 14,150 6bO 39 1,320 15,470 660 39 14,482 566 Total expenditure 14,849 1,320 16,169 15.048 Net {expenditure)lincome and net movement in funds 2,411 2,411 (4,149) Reconciliation of funds Total funds brought fO￿ard Total funds carried forlvard 4,786 7,197 4,786 8,935 7,197 4,786 The statement of financial activities includes all gdins and losses re￿ogniSed in the year. All income and expenditure derive from continuing activities. Enniskillen Drama Festival Statement of Financial Position Year ended 31 July 2024 2024 2023 Note Current assets Cash at bank and in hand 7,197 4,786 7,197 8,935 Creditors: amounts falling due within one year Net current assets 7,197 4,786 Total assets less current liabilities 7,197 4,786 Net assets 7,197 4,786 Funds of the charity Restricted funds Unrestricted funds 7,197 4.766 Total charity funds 7,197 4,786 For the year ending 31 July 2024 the charity was entitled to exemption from audit. Trustee, responsibilities.. The members have not required the organisation to obtain an audit of its financial statements for the year in question in accordance with section 476- The TrusLees 3tsKnowledge their responsibilities for complying with ine reqknirements of the Act with respec+ to accountina records and the preparation of financial statenents. These financial statements were appro￿ed by the Board of Tnjstees and auihorised for issue on 3td December 2024, and are signed on behali of the board by: S Bukowski (Tieasurer) Trustee Rees {Chair} Trustee Enniskillen Drama Festival Notes to the Financial Statements Year ended 31 July 2024 General information The charity is a public benefit entity, registered in Northern Ireland and a registered charity in Northern Ireland. The address of the registered office is Fermanagh House, Broad Meadow, Enniskillen, Co Fermanagh, BT74 7HR Statement of cornpliap.cc These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Stdfrdard applicable in the UK and the Republic of Irelanii, the Statement of Recommeiided Practice ap?licable to charities preparing their accourits in accordance wi;h the Financial Reporting Standard applicable in the UK and Repiiblic of Ireland (FRS 1021 (Charities SORP (FRS 102)) Accounting policies Basis of preparation The financial statements have Deen prepared on the historical Cotit basis, as modified oy the revaluation of certain financial assets and liabilities and investment properties measured at fair value through income or expend.iture. The financial statements are prepared in sterling, which is the functional currency of the entity. Going concern There are no material uncertainties about the charity's ability to continue. Disclosure exemptions Tb.• entity satisfies the criteria of being a qualifying entitv as defined in FRS 102. As such, aavantag¥ has been taken of the folloiving disclosure exemptions available under paragraph 1.12 of FRS 102.. {a} No cash flow Statempnt has been presented for the organisation. (b) DisclosLires in respect of financial instruments have not been p',esen+!d. Judgements and key sources of estimatiori unftertainty The preparation of the financial State￿.￿ntS requires management to make judgements, estimates and assumptions that affect the amounts reported. These esiimates aiid judgements are continually re¥',ewed and are based on experience and other factors, i.ryclknding expectations of fL'ture £.￿entS that are believed to be reasonable under the circ'Jmstaiices. The notss on pages 6-11 fonn part of these financial statements. Enniskillen Drama Festival Notes to the Financial Statements (conlinued) Year ended 31 July 2024 Accounting policies (continued) Fund accounting Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes. Designated funds are unrestricled funds earmarked by the trustees for particular future project or commitment. Restrictrd funds are subjected to restrictions on their expenditurE declared by ihp danor or through the terms of an appeal, and fall into one of two ¢ub-classes-. restricted income funds or Department for Infrastructure funds. Inconiing resources All incoming resources are included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the tranoaction will flow to the charity and ihe amount can be reliably measured. The following specific policies are applied to particular categories of income.. income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably. legacy income is recognised when receipt is probable and entitlement is established. income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value. Donated facilities and -rvices are recognised in tne accounts when received if the value can be reliably measured. No amounts are included for the contrihution of general .'olunteers. income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless thrare is a contractual requirement for li to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted. The notes on pages 6-11 fomi part of these financial statements. Enniskillen Drama Festival Notes to the Financial Statements (continued) Year ended 31 July 2024 Accounting policies (continued) Resources expended Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to v.'*ich it relates= expenditure on raising funds includes the costs of all fundraising activities, pvents, non- chariidble tr2ding activities, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those supyort costs and cost¢ relating to the governance of the chariiy apportioned to charitable akntivities. other expenditure includea all expenditure that is neither related to raising funds foi Cilarity nor part of its expep.diture on charitable activities. the All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single antib ty are allocated directly to that activity. Shared Costs are apportioned be￿een the activities they contribute to on a reasonable, justifiable and consistent basis. Tangible assets Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amour,ts are recorded at the fair value at the date of revaluation less any subsequent acvJi mulated depreciation and subsequent accumulated impairiv.ent looses. An increase in the carrying arriount of an asset as a resijlt of a revaluation is recognised ifi Other recosiised gains and losses. unless it reverses a charge for impai-.ment that has previouqly been recognised as expenditure witiiin the statement of Tinancial activities. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other recogp.ised gains and losses, except to which it offsets any previous revaluation gain, in which case the loss is shown within other recognised gains and losses on the statement os financial activities. Depieciation Deprec:ation is calculated so as to write off the cost or valuation o, an asset, less its residual value, over the useful economic life of that asset as Tollows- Plant and machinery 200/0 Straight line Iriipairment of fixed asset A review for indinators of impairment is carried out at each reporting date, v.'ith the recoverable amount being estilTlated where such indicators exist. Where the carrying value exceeds the recvverable amount, the asset is impaired accordingly. Prior I￿,PairMe￿tS are also reviewed for pos=ible reversal at each reporting date. The notes on pages 6-11 fomi part of these financial statements. Enniskillen Drama Festival Notes to the Financial Statements (continuedj Year ended 31 July 2024 Accounting policies (contsnued) Impaimient of fixed assets (continued) For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash- generating ijnit to b",'lich the asset belongs. The cash-generaiina unit is the orr,-Ilest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from. other assets or groups of assets. For impairment testip.g Gf goodwill, the goodwill acquired in a business combina*ion is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the charity are assigned to those units Governrnent grants Government grants are recoanised at the fair value of the asset received or receivable. Grants are not recogr,-'sed until there is reasoriahlp assJiance that the charity wvill comply with the conditions attaching to them and the grants will be received. Where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable_ Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a Financial instruments A financial asset or a financial liability is recognised or,'.y when the charity becomes a party to the coptractual provisions of the instrument. Basic fin2nc.ial instruments are initially recognised at the amount receiv8ble or payable including any related transaction costs. Currant assets and current liabilities are subsequently measurp.d at the cash or other cnnsideration expected to be paid or received and not discoup,*c*d. Debt instruments are suboequently ￿leaSured at amortised cost. Where irivestments in shares are publicly traded or their fair value can otherwise be measured rpliably, the investment is subeequently measured at lair value with changes in fair v21ue recggnised in income and expenditure. All other such investmep.ts are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an ass-t is deferred beyond normal business terms or financed ot a rate of interest tb,3t is not a market rate, in which case the asset is measureA at the Dresent value of the future pe.yments discounted at a marKet rate of interest for a similar d¢abt instrument. The notes on pages 6-11 fomi part of tiiese financial statements. Enniskillen Drama Festival Notes to the Financial Statements {continuedJ Year ended 31 July 2024 Accounting policies iconiinued) Financial instruw.•ynt¥ (¢ontinuedJ other financial instruments are subsequently measured at fair value, with any changes recognised in the statement of financial activities. with the exception of hedging instruments in a designated hedging relationship. Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at tb.A end of each reporting date. If there is objective evidence of impaiiment, an impairfTient Icss is recognised under the appropriate headina 111 the statement of financial activities in which tKe initial gain was recognised. For all equity instruments regardless of significance, and other financial assets that are individually significant, th.tsse are assessed individually for mpairii ient. Other financial assets are eiti*er assessed individu?Ilv or grouped un the basis of similar credit risk characteristirs. Any reversals of impairmep.t are recognised immediately, to the extent that the reversal does not recult in a carrying amount of the financial asset that exceedo what the carrying aimoLint WOLJld have been had the impairmp_nt not previ(JLiQ!y been recognised. Donations Unrestricted Funds Restricted Total Funds Total Funds Funds 2024 2023 Donations Nightly Sponsorship Main Sponsorship Deferied Sponsorship from 2023 2.500 3,000 2,500 3,000 300 900 600 5,80q 5,800 1,500 Grants Unrestricted Funds Restricted Total Funds Total Funds Funds 2024 2023 FODC Sponsorship 1,320 1,320 3,000 1,320 1,320 3,000 The notes on pages 6-11 fomi part ol these financial Statements. 10 Enniskillen Drama Festival Notes to the Financial Statements (contlnued) Year ended 31 July 2024 Other Income Unrestricted Funds Restricttsd i Otal Funds Total Funds Funds 2024 2023 Receipts from Charitable Activities Program Advertising '. ogram. .Sales Box Office 420 420 90 10,919 450 117 5,795 10,919 11,429 11,429 6,362 Costs of direct charitable act ivies Unrestricted Funds Restricted Total Funds Total Funds Funds 2024 2023 Adjudicator Costs Event Costs Management & Fromotion Costs Group Expenses 1.448 6,338 2,764 3,600 1,488 7,658 2,764 3,600 2,649 6,099 2,907 2,828 1,320 14,150 1,320 15,470 14,482 Governance Costs Unresiricted Funds Restricted Total F14nds Total Funds Funds 2024 2023 Insurance Mffiliation Fees 301 359 301 359 288 278 660 660 566 Trustee remu.￿erat10n and expenses No remuneration or other benefits from employment with the charity or a related entity were received by the trknotees. The notes on pages 6-11 forni part of these financial statements.