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2024-09-30-accounts

Company registered number: NI682476 Charity registered number: 108833

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

Tony Clarke

53 Andersonstown Road Belfast BT11 9AG

BELFAST PRIDE LIMITED

CONTENTS PAGE
Reference and administrative details of the charity, trustees and
advisers 1
Annual Report of the Trustees 2-5
Independent Examiner Report 6-7
Statement of Financial Activities 8
Balance Sheet 9
Notes to the Financial Statements 10-15

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

Trustees' Annual Report (Incorporating the Director's Report)

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is controlled by its governing document, a Memorandum and Articles of Association, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006. The company was incorporated on 20th September 2021 and registered with the Charity Commission for Northern Ireland on 28th September 2022.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company number

NI682476

Registered Charity number

108833

Registered office

109-113 Royal Avenue Belfast Northern Ireland BT1 1FF

CHAIRPERSON

Neil J. McDonagh and Kirsty Mulholland (Co-Chair)

TRUSTEES

Craig Kirkwood Gerard A. Mcatamney Neil J. McDonagh Adam Murray Elizabeth Lynn Millar John M. O'Doherty Annette Whelan Grainne Mary Gibson

Elaine McIvor Appointed 13 August 2024 Callum Clarke Appointed 12 November 2024 Paul D. Bloomer Resigned 8 October 2024 Kirsty P. Mullholland Resigned 13 August 2024

INDEPENDENT EXAMINER

Tony Clarke

53 Andersontown Road Belfast BT11 9AG

1

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

Trustees' Annual Report (Incorporating the Director's Report)

The Trustees present their annual report together with the financial statements of the company for the 01 October 2023 to 30 September 2024.

The financial statements have been prepared in accordance with the accounting policies set out in not 1 to the financial statements and comply with the company's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practices applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended for accounting periods commencing from 1 January 2019)

Structure, Governance and Trustees

Belfast Pride Limited which is registered as a charity with the Charity Commission for Northern Ireland, was incorporated as a company limited by guarantee in Northern Ireland, registration number NI682476, with the objective of undertaking charitable activities for the benefit of the inhabitants of Northern Ireland.

Objectives and Activities

Welcome to the Belfast Pride Ltd. Trustee Report. This report contains details on what has been another extremely busy year for the organisation as we continue to build public awareness and visibility of the Belfast LGBTQIA+ community, raise awareness of support services, deliver LGBTQIA+ affirming arts and culture, and work towards increased acceptance and inclusion of LGBTQIA+ individuals in Belfast and beyond.

While we continue to witness an on-going change in the views and attitudes of Northern Irelands society that might have been unimaginable years ago, we cannot be complacent. Homophobia, transphobia, biphobia, and heterosexism are still alive and well in Northern Ireland. Our activity last year was set against the backdrop of this increased public debate about LGBTQIA+ issues.

During 2024, the Trustees continued to focus on the governance of Belfast Pride: on setting and monitoring strategy, ensuring systems of control were in place, monitoring finance, and considering major areas of risk.

During the year, the Trustees continued a number of internal reviews to ensure best practice and good governance, including drawing on the experience of external consultancy resources to shape and progress the organisation forward.

Belfast Pride is responsible for the delivery of the Belfast Pride Festival and Parade, the largest free cross-community parade held in Belfast. The festival included more than 50 events organised over 10 days, including arts, history, entertainment, health and wellbeing, and political engagement events. The 2024 Belfast Pride parade was the largest to date, with people participating from across the public sector, private sector, and community and voluntary sectors.

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BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

Trustees' Annual Report (Incorporating the Director's Report)

Belfast Pride could not deliver this range of activities without a committed team of volunteers and the support of our funders and sponsors. While charitable funding continues to come under real pressure, it is a real achievement that the organisation has been able to maintain a free festival and increase its income through fees and direct private sponsorship. During this financial year, Belfast Pride continued to invest in a sustainability strategy aimed at expanding the sources of income for the organisation, including a focus on giving and public grants. In 2024, Belfast Pride successfully delivered a partnership programme with other festivals and communities aimed at increasing the visibility and inclusion of LGBTQIA+ individuals across Belfast and all its communities. During this financial year, Belfast Pride also carried out substantial community consultation on the organisation and its work. The results and feedback are being used to review our strategic plan for Belfast Pride Ltd. We have also used this survey to identify other areas of development for the organisation.

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

3

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

Trustees' Annual Report (Incorporating the Director's Report)

Financial Review

The results for the year ended 30 September 2024 are set out on pages 8 and 9 of the financial statements.

The total income for the year ended 30 September 2024 amounted to £158,681. (2023: £216,006.)

The total expenditure was £140,625 (2023: £143,251)

The Trustees consider that the unrestricted funds of the charity is sufficient and adequate to fulfil their obligations. The charity held £118,234 (2023: £91,210 ) in reserves at the year end.

Reserves Policy

The income of the Company is considered adequate and the risks associated with any significant reduction in income is regarded as unlikely. The Trustees are satisfied with the current level of reserves at the present time. The Trustees are reviewing the Reserves Policy in the current year.

4

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

Trustees' Annual Report (Incorporating the Director's Report)

Trustees' responsibilities statement

The Trustees (who are also directors of Belfast Pride for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standard (United Kingdom Generally Accepted Accounting Practice)

Company law requires the trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the income resources and application of resources, including the income and expenditure of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transaction and disclose with reasonable accuracy at any time the financial position of the charitable company and the enable them to ensure that the financial statements comply with the Companies Act 2016. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Belfast Pride is a company limited by guarantee by its Memorandum and Articles of Association. Each members liability is limited to an amount not exceeding £1.

This report was approved by the Trustees, on 24/06/2025 and signed on behalf by:

Neil J. McDonagh Trustee

5

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BELFAST PRICE LIMITED.

I report on the financial statements of the company for the year ended 30 September 2024 which are set out on pages 8 and 9.

This report is made solely to the company's Trustees, as a body in accordance with section 65(3)(a) of the Charities Act Northern Ireland 2008 and regulations made under section 66 of the Act. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work of this report.

Respective responsibilities of trustees and examiner

As the company's Trustees (and also the directors of the company for the purpose of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006. Having satisfied myself that the company is not subject to audit under company law, and is eligible for Independent examination.

It is my responsibility to:

Basis of Independent Examiner's report

I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act.

My examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It was also included consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.

Independent examiner’s statement

My role is to state whether any material matters have come to my attention giving me cause to believe:

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BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BELFAST PRIDE LIMITED (continued)

I have completed my examination and have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.

25/06/2025

Tony Clarke Date: 53 Andersonstown Road Belfast BT11 9AG

7

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING THE INCOME AND EXPENDITURE ACCOUNT

Year to Year to
Unrestricted Restricted 30-Sep-24 30-Sep-23
Funds Funds TOTAL TOTAL
Note £ £ £ £
Income from:
Donations and Legacies 2 166,181 - 166,181 172,967
Charitable Activities 3 - (7,500) (7,500) 43,039
Total Income 166,181 - 7,500
 158,681 216,006
Expenditure on:
Charitable Activities 5 140,625 - 140,625 143,251
Total Expenditure: 140,625 - 140,625 143,251
Net income/(Expenditure) 25,556 (7,500) 18,056 72,755
Transfers between funds 1,468 (1,468) - -
Net movement in funds 27,024 (8,967) 18,056 72,755
Reconciliation of Funds
Total funds brought forward 91,210 8,968 100,177 27,422
Total Funds carried forward 118,234 - 118,234 100,177

The statement of financial activities includes all gains and losses recognised in the year.

All incoming resources and resources expended derive from continuin

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

The notes on page 10 to 15 form and integral part of these accounts

8

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

BALANCE SHEET As at 30 September 2024

Debtors
7
Liabilities
8
Funds
Restricted
Unrestricted
TOTAL FUNDS
11
Net Current Assets
Creditors:amounts falling due within on
Net assets
Cash at bank
Current Assets
Tangible Assets
Fixed Assets		 -
118,534
118,534
(300)

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 30 September 2024.

The trustees acknowledge their responsibilities for ensuring that the charity keeps accounting records which comply with section 386 of the Act and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its incoming resources and application of resources, including its income and expenditure, for the financial year in accordance with the requirements of sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board directors on 24/06/2025 and were signed on their behalf by:

Neil J. McDonagh Trustee

The notes on page 10 to 15 form and integral part of these accounts

9

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

NOTES TO THE ACCOUNTS

1 Accounting policies

Charity information

Belfast Pride limited by guarantee incorporated in Northern Ireland. The registered office is: 109113 Royal Avenue, Belfast, Northern Ireland, BT1 1FF.

1.1 Accounting convention

The accounts have been prepared in accordance with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: 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)" (as amended for accounting periods commencing from 1 January 2019). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives unless the funds have been designated for other purposes.

Restricted funds are subject to specific conditions by donors as to how they may be used.

1.4 Incoming resources

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

10

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

NOTES TO THE ACCOUNTS (continued)

1.4 Incoming resources (continued)

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.

1.5 Resources expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measure reliably.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category.

The charity is below the charity audit threshold and therefore is exempt from reporting expenditure on an activity basis. The charity has opted to report by the nature of expenditure rather than on an activity basis.

1.6 Cash and cash equivalents

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7 Financial instruments

The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously

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BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

NOTES TO THE ACCOUNTS (continued)

1.8 Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

1.9 Basic financial liabilities

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.10 Derecognition of financial liabilities

Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee's services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Critical accounting estimates and judgements

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.

12

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

NOTES TO THE ACCOUNTS (continued)

2
3
**4 **		 Income from Donations and Legacies
Sales & Donations
Sponsorship & Other
Totals 2024
Totals 2023
Income from Charitable Activities
Arts and Heritage Grant
Community Activity Grant
Community Festival Fund
Belfast City Council
Totals 2024
Totals 2023
Staff Costs and Numbers
Gross Wages and Salaries		 2024 2024 2023 2023
Unrestricted Restricted
Funds
Funds
£
£
144,069
-
22,112
-		 TOTAL
£
144,069
22,112		 TOTAL
£
112,403
60,564
166,181
-		 166,181 172,967
2023
172,967
-		 172,967
2024
Unrestricted Restricted
Funds
Funds
£
£
-
-
-
-
-
-
-
(7,500)		 TOTAL
£
-
-
-
(7,500)		 TOTAL
£
-
-
-
43,039
-
(7,500)		 (7,500) 43,039
13,040
29,999		 43,039 2023
£
9,515		 2023
2024
£
-
- 9,515

No employee received emoluments of more than £60,000.

The average monthly number of employees during the year, calculated on the basis of full time equivalents, was as follows:

2024 2023
Number Number
- 1

13

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

NOTES TO THE ACCOUNTS (continued)

5 Expenditure

Expenditure
Charitable Activities
Accountancy Fees
Equipment & Services
Insurance
Merchandise, Promotion & Other
Office Costs/ Admin Fee
Programme Costs
Rent, premises & IT
Telephone and Internet
Travel & Subsistence
General costs
Salary costs
Totals 2024
Totals 2023		 2024 2023
Unrestricted Restricted
Funds
Funds
TOTAL
£
£
£
410
-
410
88,719
-
88,719
2,843
-
2,843
15,629
-
15,629
987
-
987
15,967
-
15,967
6,940
-
6,940
522
-
522
2,216
-
2,216
6,393
-
6,393
-
-
-		 TOTAL
£
727
70,589
2,403
15,775
259
26,194
11,908
451
303
5,127
9,515
140,625
-
140,625		 143,251
123,031
20,220
143,251

6 Trustees remuneration & expenses

During the year, no trustee received remuneration (2023 - £20). During the year, no trustees received any benefits in kind (2023 - £NIL). During the year, no trustees received a reimbursement of expenses (2023 - £262.28).

7 Debtors

Grants Receivable & Other 2024
2023
£
£
-
7,500
-
7,500		 2023

14

BELFAST PRIDE LIMITED

(Private company limited by guarantee without share capital) TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR YEAR 30 SEPTEMBER 2024

NOTES TO THE ACCOUNTS (CONTINUED)

8 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Accruals & Deferred Income
Other Creditors		 2024
£
-
300
300		 2023
£
-
300
300

9 Independent examiner's remuneration

The independent Examiner's remuneration amounts to an Independent Examination fee of £300.00 (2023 - £360.00)

10 Related party transactions

There were no related party transactions during the year.

11 Statement of funds - current year

Restricted funds
Belfast City Council
Total restricted funds
Unrestricted funds
General funds
Total of funds - current year
Total Unrestricted funds		 Balance at
1 October
2023
Income
Expense
Transfer
in/out
Balance at 30
September
2024
£
£
£
£
£
8,968
(7,500)
-
(1,468)
-
8,968
(7,500)
-
(1,468)
-
91,210
166,181
(140,625)
1,468
118,234
91,210
166,181
(140,625)
1,468
118,234
100,177
158,681
(140,625)
-
118,234

15