COMPANY REGISTRATION NUMBER: N1640393
CHARITY REGISTRATION NUMBER: 108409
The Belfast Ensemble Limited
Company Limited by Guarantee
Unaudited Financial Statements
31 March 2025
Finegan Gibson Ltd
Chartered accountants
Causeway Tower
9 James Street South
Belfast
BT2 8DN

The Belfast Ensemble Limited
Company Limited by Guarantee
Financial Statements
Year ended 31 March 2025
Page
Trustees, annual report (incorporating the directoff s report)
Independent examiner's report to the trustees
Statement of financial activities (including income and
expenditure account)
Statement of financial position
Notes to the financial statements
10

The Belfast Ensemble Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report)
Year ended 31 March 2025
The trustees, who are also the directors for the purposes of company law, present their report and the
unaudited financial statements of the charity for the year ended 31 March 2025.
Reference and administrative details
Registered charlty name
The Belfast Ensemble Limited
Charity registration number
108409
Company registration number N1640393
Prlncipal office and registered Crescent Arts Centre
office
University Road
Belfast
Northern Ireland
BT7 1NH
The trustees
R Brown
T Mctighe
K Taroff
L Harris
JRea
M Noonan
O O'Kane
(Resigned 4 April 2024)
(Appointed 11 October 2024)
(Appointed 20 September 2025)
(Appointed 20 September 2025)
Company secretary
Andrew Hume
(Appointed 20 September 2025)
Independent examiner
Paul Dolan FCA
Structure, governance and management
The Belfast Ensemble was incorporated as a company limited by guarantee on 2410812016 (No:
N1640393). It is governed by its Memorandum and Articles of Association and is also a registered
charity since 1911012022 {No.- 108409). Artistic direction and management are undertaken by a full
time Artistic Director and Executive Producer, while the administration is carried out by a part-time
Administration & Finance Assistant. Additional freelance project managers, specialist staff, and
producers are engaged to support project delivery and core business functions.
Trustees were sought at incorporation and since with a view to covering several areas of relevant
expertise. As at 31 March 2025 there were four trustees none of whom have any financial liability in
the event of the charity winding up. The Board meets quarterly alongside a Finance & Operations
sub-committee, each of whom has their own Terms of Reference.

The Belfast Ensemble Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) fcontlnued)
Year ended 31 March 2025
Objectives and activities
The Ensemble's charitable objective is=
i. To advance the education of the public in the arts and in particular to present, promote, organise,
manage and produce musical works of cultural and educational work including music dramas, operas,
operettas, film, television and digital broadcasts, dance productions and cultural events and
exhibitions for the public benefit.
Our constitution states The Belfast Ensemble is a non-profit 'new music, organisation making its work
in the city of Belfast. The Company's mission is to establish a performance ensemble that produces a
season-by-season programme of music-theatre activities. These activities will engage, through touring
and residencies, with the wider world.
Achievements and performance
During 2024-25, Belfast Ensemble created and premiered a groundbreaking new symphonic work,
revived and toured a dynamic multi-disciplinary piece, and developed a large-scale musical theatre
work with an 'in-concert' presentation- all created, composed and directed by Artistic Director Conor
Mitchell..
Riot Symphony
This large scale piece for symphony orchestra, mezzo-soprano, tenor, and video-designer premiered
in May 2024. Presented at the Ulster Hall, Belfast Ensemble collaborated with the full forces of the
Ulster Orchestra, conducted by Andrew Gourley, with Belfast natives Rebekah Coffey and Michael
Bell singing the vocal solos, accompanied by video design by Gavin Peden.
Drawing on the writings of Sophie Scholl and the White Rose Movement, alongside the music and
activism of Russian punk artists Pussy Riot, Riot Symphony is a powerful work that further
demonstrates Belfast Ensemble's dexterity in blending protest and politics with classical and
contemporary artistic forms.
Riot Symphony was funded by the Arts Council of Northern Ireland. with partnership support from
Ulster Orchestra.
"stark and immediate" _ **** - The Guardian

The Belfast Ensemble Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Achievements and performance (continued)
The Doppler Effect
A genre-busting audio-visual installation experience that blends projection, dance, spoken word, and
chamber-music, The Doppler Effect maps one gay man's journey through the rain-filled streets of
Belfast at night, intethined with mathematical philosophy, obsessive compulsion. and the beauty of
Ingrid Bergman.
First performed in 2017, The Doppler Effect was rebalanced and enhanced to place the local queer
experience at the heart of international artistic conversations ahead of June & September 2024
performances at Festival de Marseille and The MAC, Belfast.
This sophisticated multi-media piece featuring.. actor Abigail McGibbon, dancer Ruaidhri Maguire,
violinist Clare Hadwen, violist Aoife Magee, cellist Elias Rooney, clarinetist Kevin Lawless, and video
designer Gavin Peden, highlights Belfast Ensemble's nuanced, versatile, and considered approach to
queer storytelling.
The Doppler Effect was funded by the Arts Council of Northern Ireland, The Hinrichsen Foundation,
and Culture Ireland with partnership support from Festival de Marseille, Festival de Créations Queer
Contemporaines TRANSFORMI and Outburst Queer Arts Festival.
"Pushes back the barriers of theatrical convention while remaining disciplined and precise
The Stage
The Necklace
March 2025 saw Belfast Ensemble present an 'in-concert' sharing of a new music-theatre piece in
development. The Necklace after 'La Parure, by Guy de Maupassant, blends operatic form with
musical theatre aesthetics to establish a detailed yet accessible musical presentation chronicling
social mobility, love, loss, and consequence.
Performed to a sold-out audience at the Lyric Theatre with an augmented instrumental ensemble of 24
players, joined by a vocal cast of 8 singers, development of work like The Necklace plays a key
strategic role in our talent development, audience development, and income generation plans.
The Necklace was presented with funding from the Arts Council of Northern Ireland, with partnership
support from the Lyric Theatre.
"Superb individual performances from all the casf, . Opera Journal

The Belfast Ensemble Limited
Company Limited by Guarantee
Trustees. Annual Report (Incorporating the Director's Report) {continuedJ
Year ended 31 March 2025
Financial review
Revenues decreased 27.5 % to £312,231 (2024: £430,929) with a profit of £11,811 (2024.. profit of
£150,121) recorded for the year. Amount of £300,420 was spent on direct Charitable activities. The
Ensemble remains a going concern in a healthy financial state.
Public Benefit
All of the charitable activities are undertaken for the benefit of the public. The trustees confirm that
they have complied with the requirements of the Charities Act (Northern Ireland) 2008 to have due
regard to the public benefit guidance published by the Charity Commission for Northern Ireland.
Policy on Reserves
The Belfast Ensemble aims to maintain reserves at a level that will enable the organisation to provide
for contingencies, withstand periods of poor trading conditions or, in extreme circumstances, to
manage a fundamental restructure, or orderly wind-down, of its activities. The trustees have
established the level of reserves (that is those funds that are freely available) that the charity should
ideally have. The current level determined, devised to cover core costs for a period of three months is
£35,000. In the Current year, the trustees have elected to leverage a small portion of this reserve to
achieve The Belfast Ensemble's charitable and artistic aims, by designating funds for spend on artistic
projects.
The Belfast Ensemble aims to make a small surplus through its engagements. It is intended that any
such surplus will be used to ensure that the reserves policy is achieved and maintained. It is
anticipated that the surpluses achieved over the next year will restore the reserve position to the
determined level of £35,000. Additionally, it is intended that any such surplus will be used as a
contingency fund in order to effectively manage any deviations in budget expectations, including bad
debts; or to assist in maintaining a positive cash flow balance if required.
Risk Management
The Finance Committee has conducted a review of the major risks to which the charity is exposed. A
risk register has been established and is updated quarterly and shared with the Board for discussion
and ratification. Where appropriate, systems or procedures have been established to mitigate the risks
the charity faces. Significant external risks to funding have led to the development of a strategic plan
which will allow for the diversification of funding and activities. Internal control risks are minimised by
the implementation of procedures for authorisation of all transactions and projects. Procedures are in
place to ensure compliance with health and safety of staff, volunteers, clients and visitors in our work
and practice. All procedures are periodically reviewed to ensure that they continue to meet the needs
of the charity.
Related Parties
Neither the board nor the individual trustees are involved in any artistic decisions as to programming
or casting. All trustees give their time freely and no trustee received remuneration in the period
2024125, beyond the covering of essential expenses.

The Belfast Ensemble Limited
Company Limited by Guarantee
Trustees, Annual Report (Incorporating the Director's Report) (continued)
Year ended 31 March 2025
Plans for future periods
As we step into the 2025-26 financial year, Belfast Ensemble are at a key moment of solidifying our
growth. April 2025 will see the appointment of a full time Executive Producer, alongside elevating the
Artistic Director role to full time hours.
With an experienced core team leading the organisation on a permanent basis our ability to create
new work, support artist development, connect with audiences, generate income, and further
strengthen our governance will be enhanced.
April 2025 also sees Artistic Director Conor Mitchell commence his tenure as Associate Artist at
London's Southbank Centre, raising our organisational profile with regular engagements in the capital.
Future commissions and development projects include..
A new opera investigating class, power, agency and Anglo-lrish relations told from the
queered perspective of Jack Saul - an Irish rent boy living and working in Victorian London.
Commissioned with ￿ndIng from Arts Council Ireland's Opera Projects & Production Awards
(Stage 2).
A new large-scale music-theatre piece blending symphonic language, concerto-grosso, text,
movement, and theatrical stage design to interrogate the legend of Pope Joan a female
Pope who mythically held the papacy in the 9th century.
Research & development funding from Arts Council Ireland's Opera Projects & Production Awards
(Stage 1).
Further embedding collaborative, artist led practice into our creative and company structures
through 'The Ensemble Project, a professional and artistic development programme for key
Belfast Ensemble artists, that will include bespoke career enhancement activities and project
realisation.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to
the small companies exemption.
The trustees, annual report was approved on 03 December 2025 and signed on behalf of the board of
trustees by:
ITh1.￿ ￿babL
Rachel Brown
(Chair)
M Noonan
Trustee

The Belfast Ensemble Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Belfast Ensemble
Limited
Year ended 31 March 2025
I report to the trustees on my examination of the financial statements of The Belfast Ensemble Limited
('the charity'l for the year ended 31 March 2025.
Responsibilities and basis of report
As the trustees of the company (and also its directors for the purposes of company law) you are
responsible for the preparation of the financial statements in accordance with the requirements of
Charities Act (Northern Ireland) 2008 (the '2008 Act,) and the Companies Act 2006 ('the 2006 Act,).
You are satisfied that the accounts of the company are not required by charity or company law to be
audited and have chosen instead to have an independent examination.
Having satisfied myself that the accounts of the company are not required to be audited under Part 16
of the 2006 Act and are eligible for independent examination, I report in respect of my 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 section 65(9)(b) of the 2008 Act.
Independent examiner's statement
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body
listed in section 65 of the 2008 Act. I confirm that l am qualified to undertake the examination because
l am a member of Chartered Accountants Ireland, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection
with my examination giving me cause to believe that in any material respect-
accounting records were not kept in respect of the charity as required by section 386 of the
2006 Act., or
the financial statements do not accord with those records-, or
the financial ststements do not comply with the accounting requirements of section 396 of
the 2006 Act other than any requirement that the accounts give a 'true and fair, view which
is not a matter considered as part of an independent examination., or
the financial 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).

The Belfast Ensemble Limited
Company Limited by Guarantee
Independent Examiner's Report to the Trustees of The Belfast Ensemble
Limited (continued)
Year ended 31 March 2025
I confirm that there are no other matters to which your attention should be drawn to enable a proper
understanding of the accounts to be reached.
Paul Dolan FCA
Independent Examiner
Finegan Gibson
9 James Street South
Causeway Tower
BT2 8DN
Date: 03 December 2025

The Belfast Ensemble Limited
Company Limited by Guarantee
Statement of Financial Activities
(including income and expenditure account)
Year ended 31 March 2025
2025
Restricted
funds Total funds Total funds
2024
Unrestricted
funds
Note
Income and endowments
Charitable activities
70,894
241,337
312,231
312,231
430,929
Total income
70,894
241,337
430,929
Expenditure
Expenditure on charitable activities
Total expenditure
(146,933) (153,487) (300,420) (280,808)
(146,933) (153,487) {300,420) (280,808)
Net income and net movement in funds
(76,039)
87,850
11,811
150,121
Reconciliation of funds
Total funds brought fO￿ard
Total funds carried forward
135,760
4,000
139,760
(10,361)
139,760
59,721
91,850
151,571
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The notes on pages 10 to 20 form part of these financlal statements.

The Belfast Ensemble Limited
Company Limited by Guarantee
ststement of Financial Position
31 March 2025
2025
2024
Note
Fixed assets
Tangible fixed assets
12
11,809
17,769
Current assets
Debtors
Cash at bank and in hand
13
53,491
92,351
145,842
118,971
12,411
131,382
Creditors: amounts falling due within one year
Net current assets
14
(6,080)
139,762
19,391)
121,991
Total assets less current liabilities
151,571
151,571
139,760
139,760
Net assets
Funds of the charity
Restricted funds
Unrestricted funds
91,850
59,721
151,571
4,000
135,760
139,760
Total charity funds
16
For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477
of the Companies Act 2006 relating to small companies.
Directors, responsibilities:
The members have not required the company to obtain an audit of its financial statements for the
year in question in accordance with section 476.,
The directors acknowledge their responsibilities for complying with the requirements of the Act
with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to
companies subject to the small companies, regime.
These financial statements were approved by the board of trustees and authorised for issue on 03
December 2025, and are signed on behalf of the board by..
dLLL
Rachel Brown
(Chair)
M Noonan
Trustee
The notes on pages 10 to 20 fonn part of these financial statements.

The Belfast Ensemble Limited
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 March 2025
General Information
The charity is a public benefit entity and a private company limited by guarantee, registered in
Northern Ireland and a registered charity in Northern Ireland. The address of the registered office
is Crescent Arts Centre, University Road, Belfast, Northern Ireland, BT7 1 NH.
Statement of compliance
These financial ststements have been prepared in compliance with FRS 102, 'The Financial
Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 (FRS 102) (Charities
SORP (FRS 102)) and the Companies Act 2006.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the
revaluation of certain financial assets and liabilities and investment properties measured at fair
value through income or expenditure.
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.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements,
estimates and assumptions that affect the amounts reported. These estimates and judgements
are continually reviewed and are based on experience and other factors, including expectations
of future events that are believed to be reasonable under the circumstances.
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 unrestricted funds earmarked by the trustees for particular future project or
commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor or
through the terms of an appeal, and fall into one of two sub-classes.. restricted income funds or
endowment funds.
10

The Belfast Ensemble Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
Accounting policies (continue
Incoming 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 transaction
will flow to the charity and the 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 services are recognised in the
accounts when received if the value can be reliably measured. No amounts are included for
the contribution of general volunteers.
income from contracts for the supply of services is recognised with the delivery of the
contracted service. This is classified as unrestricted funds unless there is a contractual
requirement for it to be spent on a particular purpose and returned if unspent. in which case
it may be regarded as restricted.
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 which it relates-
expenditure on raising funds includes the costs of all fundraising activities, events,
non-charitable trading activities, and the sale of donated goods.
expenditure on charitable activities includes all costs incurred by a charity in undertaking
activities that fijrther its charitable aims for the benefit of its beneficiaries, including those
support costs and costs relating to the governance of the charity apportioned to charitable
activities.
other expenditure includes all expenditure that is neither related to raising funds for the
charity nor part of its expenditure on charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs
attributable to a single activity 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 impairrnent losses. Any tangible assets carried at revalued
amounts are recorded at the fair value at the date of revaluation less any subsequent
accumulated depreciation and subsequent accumulated impairment losses.
11

The Belfast Ensemble Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2025
Accounting policies (continued)
Tangible assets (continued)
An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other
recognised gains and losses, unless it reverses a charge for impairment that has previously been
recognised as expenditure within the statement of financial activities. A decrease in the carrying
amount of an asset as a result of revaluation, is recognised in other recognised 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 of financial activities.
Depreciatlon
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual
value, over the useful economic life of that asset as follows..
Fixtures and fittings
25 /0 Straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable
amount being estimated where such indicators exist. Where the carrying value exceeds the
recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for
possible reversal at each reporting date.
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 unit to which the asset belongs. The cash-generating unit is the smallest
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 testing of goodwill, the goodwill acquired in a business combination 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.
Financial instruments
A financial asset or a financial liability is recognised only when the charity becomes a party to the
contractual provisions of the instrument.
Basic financial instruments are initially recognised at the amount receivable or payable including
any related transaction costs.
Current assets and current liabilities are subsequently measured at the cash or other
consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
12

The Belfast Ensemble Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
Accounting policies (continued)
Financial instruments (contlnued)
Where investments in shares are publicly traded or their fair value can otherwise be measured
reliably, the investment is subsequently measured at fair value with changes in fair value
recognised in income and expenditure. All other such investments are subsequently measured at
cost less impairment.
Other financial instruments, including derivatives, are initially recognised at fair value, unless
payment for an asset is deferred beyond normal business terms or financed at a rate of interest
that is not a market rate, in which case the asset is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
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 the end of each reporting date. If there is objective evidence of impairment, an
impairment loss is recognised under the appropriate heading in the statement of financial
activities in which the initial gain was recognised.
For all equity instruments regardless of significance, and other financial assets that are
individually significant, these are assessed individually for impairment. Other financial assets are
either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised immediately, to the extent that the reversal does not
result in a carrying amount of the financial asset that exceeds what the carrying amount would
have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which
the related service is provided. Prepaid contributions are recognised as an asset to the extent
that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the
reporting date in which the employees render the related service, the liability is measured on a
discounted present value basis. The unwinding of the discount is recognised as an expense in
the period in which it arises.
Limited by guarantee
The company, being a company limited by guarantee, does not have share capital. The liability of
members of the company is limited to £1 per member.
13

The Belfast Ensemble Limited
Company Limited by Guarantee
Notes to the Financial Ststements (continued)
Year ended 31 March 2025
Charitable activities
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Theatre Tax Relief
Show Income and Ticket Sales
Culture Ireland
Belfast City Council- Pathfinders
ACNI Lottery Fund
Vaughan Williams Foundation
ACNI General
Foyle Foundation
Leche Trust
Other Income
Grant income
ACNI Annual Funding Programme
John Ellerman Foundation
The Henrichsen Foundation
Arts Council Ireland- Opera Projects and Production
Award 2024
Belfast City Council- Cultural Multi Annual Grant
40,111
30,783
40,111
30,783
17,987
17,987
3,000
3,000
100,000
30,000
1,500
100,000
30,000
1,500
73,850
15,000
73,850
15,000
70,894
241,337
312,231
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Theatre Tax Relief
Show Income and Ticket Sales
Culture Ireland
Belfast City Council- Pathfinders
ACNI Lottery Fund
Vaughan Williams Foundation
ACNI General
Foyle Foundation
Leche Trust
Other Income
Grant income
ACNI Annual Funding Programme
John Ellerman Foundation
The Henrichsen Foundation
Arts Council Ireland- Opera Projects and Production
Award 2024
Belfast City Council- Cultural Multi Annual Grant
92,664
88,564
92,664
88.564
23,013
26,845
8,000
23,013
26,845
8,000
21,209
20,000
4,000
21,209
20,000
4,000
760
24,567
121,307
760
24,567
121,307
206,555
224,374
430,929
14

The Belfast Ensemble Limited
Company Limited by Guarantse
Notes to the Financial Statements (continuedj
Year ended 31 March 2025
Expenditure on charitable activities by fund type
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Performing Arts
Support costs
144,953
1,980
146,933
146,297
7,190
291,250
9,170
300,420
153,487
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Performing Arts
Support costs
84,126
188,982
7,700
273,108
7,700
280,808
84,126
196,682
Expenditure on charitable activities by activity type
Activities
undertaken
directly Support costs
Total funds
2025
Total fund
2024
Performing Arts
Governance costs
291,250
291,250
9,170
273,108
7,700
9,170
291,250
9,170
300,420
280,808
Net income
Net income is stated after chargingl(crediting)'.
2025
2024
Depreciation of tangible fixed assets
5.960
6,072
Independent examination fees
2025
2024
Fees payable to the independent examiner for-.
Independent examination of the financial statements
2,520
2,400
15

The Belfast Ensemble Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
10. Staff costs
The total staff costs and employee benefits for the reporting period are analysed as follows:
2025
2024
Wages and salaries
Social security costs
Employer contributions to pension plans
26,148
2,654
560
5,100
390
106
29,362
5,596
The average head count of employees during the year was 1 {2024: 1). The average number of
full-time equivalent employees during the year is analysed as follows:
2025
No.
2024
No.
Number of staff
No employee received employee benefits of more than £60,000 during the year {2024'. Nil).
Key Management Personnel
Key management personnel include all persons that have authority and responsibility for
planning, directing and controlling the activities of the charity. The total compensation paid to key
management personnel for services provided to the charity was £10,557 (2024:£-).
11. Trustee remuneration and expenses
No remuneration or other benefits from employment with the charity or a related entity were
received by the trustees during the year.
12. Tangible fixed assets
Fixtures and
fittings
Cost
At 1 April 2024 and 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
23,841
6,072
5,960
12,032
Carrying amount
At 31 March 2025
11,809
17,769
At 31 March 2024
16

The Belfast Ensemble Limited
Company Limited by Guarantee
Notes to the Financial Ststements (continued)
Year ended 31 March 2025
13. Debtors
2025
2024
Prepayments and accrued income
53,491
118,971
14. Creditors: amounts falling due within one year
2025
2024
Accruals and deferred income
Social security and other taxes
Other creditors
4,847
1,104
129
7,700
1,605
86
6,080
9,391
15. Pensions and other post retirement benefits
Defined contribution plans
The amount recognised in income or expenditure as an expense in relation to defined
contribution plans was £560 (2024: £106).
16. Analysis of charitable funds
Unrestricted funds
At
31 March 202
At
1 April 2024
Income Expenditure
Transfers
General funds
Rebrandlnew website
Artistic works - planned
projects
35,760
20,000
70.894
(56,049)
(10,884)
(28,884)
(6,116)
21,721
3,000
80,000
(80,000)
(146,933)
35,000
35,000
59,721
135,760
70,894
At
31 March 202
At
1 April 2023
Income Expenditure
Transfers
General funds
Rebrandlnew website
Artistic works - planned
projects
(10,361)
206,555
(84,126)
(76,308)
20,000
35,760
20,000
80,000
80,000
135,760
(10,361)
206,555
(84,126)
23,692
17

The Belfast Ensemble Limited
Company Limited by Guarantee
Notes to the Financial Statements (contlnued)
Year ended 31 March 2025
16. Analysis of charitable funds (contlnued)
In 2023-24 the trustees ringfenced £80,000 of designated reserves for the delivery of artistic projects
in 2024-25 and 2025-26, with 2 projects delivered in 2024-25. £20,000 was also designated for the
commissioning of a new brand, website, and communications strategy.
This brand, website, and communications work will be completed under budget in 2025-26, resulting in
an underspend of £6,116, which has been transferred for spend towards artistic projects in 2025-26.
18

The Belfast Ensemble Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
16. Analysis of charitable funds (continued)
Restricted funds
At
31 March 202
At
1 April 2024
Income Expenditure
Transfers
Culture Ireland
Belfast City Council
ACNI Lottery Fund
ACNI General Revenue
Foyle Foundation
Leche Trust
ACNI Annual Funding
Programme
Vaughan Williams
Foundation
John Ellerman
Foundation
The Henrichsen
Foundation
Arts Council Ireland
Belfast City Council-
Cultural Multi Annual
Grant
17,987
(17,987)
4,000
(4,000)
100,000
(100,000)
3,000
3,000
30,000
30,000
1,500
73,850
(1,500)
(15,000)
58,850
15,000
241,337
(15,000)
(153,487}
4,000
91,850
At
31 March 202
At
1 April 2023
Income Expenditure
Transfers
Culture Ireland
Belfast City Council
ACNI Lottery Fund
ACNI General Revenue
Foyle Foundation
Leche Trust
ACNI Annual Funding
Programme
Vaughan Williams
Foundation
John Ellerman
Foundation
The Henrichsen
Foundation
Arts Council Ireland
Belfast City Council-
Cultural Multi Annual
Grant
23,013
26.845
8,000
21,209
20,000
4,000
(23,013}
(26,845)
(8,000)
(21,209)
(20,000)
4,000
121,307
(118,824)
(2,483)
224,374
(196,682)
(23,692)
4,000
19

The Belfast Ensemble Limited
Company Limited by Guarantee
Notes to the Financial Statements (continued)
Year ended 31 March 2025
17. Analysis of net assets between funds
Unrestricted
Funds
Restricted Total Funds
Funds
2025
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
11,809
53,992
(6,080)
59,721
11,809
145,842
(6,0801
151,571
91,850
91,850
Unrestricted
Funds
Restricted Total Funds
Funds
2024
Tangible fixed assets
Current assets
Creditors less than 1 year
Net assets
17,769
127,382
{9,391)
135,760
17,769
131,382
(9,391)
139,760
4,000
4,000
18. Taxation
The Company is a registered charity, and as such is entitled to tax exemptions on income and
profits in furtherance of the charity's primary objectives.
19. Related parties
The Trustees have considered guidance in relation to related paty transactions and believe
there are no transactions that require disclosure.
20. Contingencies
A contingent liability exists to repay grants and Trusts monies received should certain conditions
not be fulfilled by the charity. In the opinion of the trustees, the terms of the Letters of Offers have
been, or will be, complied with and no liability is expected.
20