Charity Number: 109479 nua Nua Festival Annual Report and Unaudited Financial Statements for the financial period from 23 February 2023 (date of incorporation) to 30 June 2024 Daly Park & Company Ltd Chartered Accountants 4 Carnegie Street Lurgan Armagh BT66 6AS Northern Ireland
Nua Festival CONTENTS Page Trustees, and Other Information Trustees, Report Statement of Trustees, Responsibilities Independent Examiner's Report Statement of Financial Activities Balance Sheet 10 Statement of Cash Flows Notes to the Financial Statements 12-15
Nua Festival TRUSTEES, AND OTHER INFORMATION ' Trustees Leonard Adamson Alain Emerson Neil Alexander Andrew Masters Matthew Kennedy- appointed 518124 Laura Laverty- appointed 518124 Charity Number in Northern Ireland 109479 Company Registration Number 109479 Principal Address 23a Castle Lane Lurgan Armagh BT67 gBD Northern Ireland Independent Examiner Daly Park & Company Ltd Chartered Accountants 4 Camegie Street Lurgan Amiagh BT66 6AS Northern Ireland
Nua Festival TRUSTEES, REPORT for the financial period from 23 February 2023 (date of incorpordtionl to 30 June 2024 The Iruslees present their Trustees, Report and the unaudited financial statements for the financial period from 23 February 2023 {dale of incorporalionl to 30 June 2024. The financial slalements 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 IFRS 1021. The Trustees, Report contains the information required lo be provided in the TTUStees' Annual Report under the Statement of Recommended Practice ISORPI 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 Nua Festival present a summary of ils purpose, governan, activities, achievements and finances for the financial period 30 June 2024. The charity is a registered charity and although not obliged to comply with the Statement of Recommended Practi applicable in the UK and Republic of Ireland FRS 102. the organisation has implemented its recommendations where relevant in these financial statements. Mission. Objectives and Strategy Mission Statement The charity will co-ordinate the organisation and running of the NUA Festival, an annual festival where friends from different churches. networks and communities have commilled to come together with a unified desire lo seek God for a fresh outpouring of his Holy Spirit on the island of Ireland. We will run a programme of residential and non-residential inter church events serviced mostly by volunteers. The festival is built around three core themes . 1. Feast A spirit of lebratiOn across generations, churches and religions where we will develop and deepen community, opening up our hearts and lives lo one another around food, fun and fire. 2. Family- Creating an accessible environment for families where all ages can be catered for in intentional and focused ways while enjoying the wider dynamic of a family of families. 3. Fire - A whole-hearted pursuit of Jesus in the power of the Holy Spirit. crying out to God lo come and move in our island once again. Objectives Public Benefit An improved sense of wellbeing for those attending our camps and events as they enjoy fellowship with others and receive leaching from the Bible. The promotion of Christian values for the benefit of individuals. with those attending our events encouraged to adopt a moral framework where they are good Citizens. Spiritual benefits as commonly understood within a Christian Faith. Spiritual, moral and intellectual development of any member of the public who attends our events through the teaching of the Bible. The development of ski115. knowledge and capabilities of the volunteers who are involved in running our events. The prornotion of citizenship and the need lo give back to the community to all who attend these events. The encouragement of those who live in the localtty of the churches involved a5 they participate in activities organised by us. The entertainment of children and young people through the provision of activities in a safe environment with a Christian ethos. All of the above benefits will be demonstrated through feedback from our attendees. their families. our volunteers and the general public within the local community aaS who attend our events. We do not anticipate that any hann will flow from any ofthe above purposes.
Nua Festival TRUSTEES, REPORT for the financial period from 23 February 2023 {date of incorporation) to 30 June 2024 Structure, Govemance and Management Structure Nua Festival is a registered as a charity with the Charity Commission for Northern Ireland ICCNII under referen NIC109479. The charity is a joint venture arising from the prayerful conversations of a collective of friends representing a number of different churches and communities. It is govemed by its Conslilulion. Trustees have been appointed based on their skills, experience and knowledge of other similar charities. Adequate training is provided lo all new Trustees. The Trustees manage the day to day responsibilities of the charity and meet regularly throughout the year. Review of Activities, Achievements and Performance Nua has attracted approx. 2000 people of all ages over the 2023 and 2024 Festivals at the Northfield sile in Newcastle. These weekends have been remarkable times of Christian Fellowship and vibrant community spirit including all ages. Specialised youth and kids programs fomi an integral part of the festival where hundreds of young people are engaged, while at the same time Spa is created for families lo engage together in worship and feasting together. Approx 150 volunteers serve at NUA to make the event run as smoothy as possible and during the weekend Iheie is a mixture of attendees camping, travelling into the sile from local hotels, B&Bs and day Vlsltors. The event Is a wonderful celebration of Chnslian unity as people from numerous streams and denominations of the church are represented.
Nua Festival TRUSTEES. REPORT for the financial period from 23 February 2023 (date of incorporation) to 30 June 2024 Finan¢lal Revlew The results for the financial period are sel out on page 9 and additional notes are provided showing income and expenditure in greater detail. Results and Dividends At the end of the financial period the charity has assets of £88.952 (Feb 23 - £0.00) and liabilities of £31,328 (Feb 23 - £0.00). The net assets of the charity have increased by £57,624. Reserves Position and Policy The charity aims to achieve a level of reSoUrS which matches the needs of the organisation both al the current lime and in the foreseeable future. The free serveS required should be sufficient to cover at least six months running costs. The reserves policy is an integral part of the charity planning, budget and forecasts. Compliance with Se¢tor-Wide Legislation and Standards The charity engages pro-actively with legislation. standards and codes which are developed for the sector. Nua Festival subscribes lo and is compliant with the following.. The Charities SORP {FRS 102) Approved by the Board of Trustees on 28 and signed on its behalf by: Leonard Adamson Trustee Alaln Emerson Trustse
Nua Festival STATEMENT OF TRUSTEES, RESPONSIBILITIES for the financial period from 23 February 2023 (dale of incorporation) 10 30 June 2024 The trustees are responsible for preparing the financial statements in accordance with applicable law and regulations. The law applicable to charities in Northem Ireland requires the trustees to prepare financial statements foreach financial period which give a true and fair view of the assets, liabilities and financial position of the charity as al the financial period 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 lo.. select suitable accounting policies and apply them consislenlly-. observe the methods and principles in the Charities SORP make judgements and accounting estimates that are reasonable and prudent., slate 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 il 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"stalements. 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 al any lime the financial position of the charity and enable them to ensure that the financial slalemenls comply with the Charities Act (Northern Ireland) 2008. 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 and signed on its behalf by: Leonard Adamson Trustee Alain Emerson Trustee
Nua Festival INDEPENDENT EXAMINER'S REPORT TO THE BOARD OF TRUSTEES OF NUA FESTIVAL We have examined the financial slalements of the charity for the financial period from 23 February 2023 (date of incorporalionl to 30 June 2024. which comprise the Statement of Financial Activities. the Balance Sheet, the Statement of Cash Flows and the related notes. Respective responsibilities of trustees and examiner The charity's trustees are responsible for the preparation of the financial statements in accordance with the requirements of the Charities Ad {Northern Ireland) 2008. The charity's trustees consider that an audit is not required forlhis financial period under the Charities Act (Northern Ireland) 2008 and that an independent examination is requi. It is our responsibility lo.. examine the financial statements under section 65 of the Charities Act.. follow the procedures laid down by the general Directions given by the Charity Commission for Northern Ireland under section 65{9llbl of the Charities Act-, and state whether particular matters have come to our attention. Basis of independent examiner's report We have examined your charity financial slalements as required under section 65 of the Charities Act and our examination was carried out in accordance with the general Diredions given by the Charity Commission for Northern Ireland under section 6519}{bl of the Charities Act. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. 11 also includes consideration of any unusual items or disclosures in the financial statements and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'lrue and fair. iriew and the report is limited to those matters sel out in the statement below. In connection with our examination. no maller has come lo our attention which gives us cause lo believe that in, any material respect.. accounting records were not kept in accordance with section 63 of the Charities Act the financial statements do not accord with those accounting records the financial statements have not been prepared in accordance with 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 IFRS1021 there is further infomiation needed for a proper understanding of the accounts to be reached. Independent examiner's statement We have no concerns and have come across no other mallers in connection with the examination lo whith attention drawn in this re ort in order lo enable a proper understanding of the financial statements to be reached. DA ARK & COMPANY LTD Cha ered Accountants 4 Carnegie Street Lurgan Armagh BT66 6AS Northern Ireland Date". 3é16.Iz*...........
Nua Festival STATEMENT OF FINANCIAL ACTIVITIES for the financial period from 23 February 2023 (dale of incorporalion)10 30 June 2024 Unrestricted Funds Jun 24 Totsi Funds Jun 24 Notes Income Donations and legacies Other trading activities Other income 117,213 102.117 1.300 117,213 102.117 1.300 Total Income 220.630 220,630 Expenditure Charitable activities 516 163.006 163.006 Net incomel(expenditurel 57,624 57,624 Transfers between funds Net movement in funds forthe financial period 57.624 57.624 Total funds at the end of the year 57,624 57.624 The Statement of Financial Activities includes all gains and losses recognised in the financial period. All income and expenditure late to continuing activities.
Nua Festival BALANCE SHEET as at 30 June 2024 Jun 24 Notes Current Assets Debtors Cash al bank and in hand 2,377 86,575 88,952 Credltors.. Amounts falling due within one year 10 {31,328) Net Current AssetsllLiabilltlesl 57,624 Total Assets les$ Current Liabilities 57,624 Fund$ General fund {unrestricted) 57.624 Totsl funds 12 57,624 The financial statements have been prepared in accordance with the provisions applicable lo wmpanies subject to the small companies, regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" applying Section 1A of that standard. Approved by the Board of Trustees and authorlsed for issue on 2 behalf by and signed on its Leonard Adamson Trustee Alain Emerson Trustee
Nua Festival STATEMENT OF CASH FLOWS for the financial period from 23 February 2023 (date of incorporation) to 30 June 2024 Jun 24 Notes Cash flows from operating a¢tivlties Net movement in funds 57,624 57.624 Movements in working capital.. Movement in debtors Movement in creditors 12,3771 31,328 Cash generated from operations 86,575 Cash and cash equivalents at the end of the year 86,575
Nua Festival NOTES TO THE FINANCIAL STATEMENTS for the financial period from 23 February 2023 (date of incorporation) to 30 June 2024 GENERAL INFORMATION Nua Festival is a charity incorporated in Northern Ireland. The registered office of the charity is which is also the principal place of business of the charity. The financial statements have been presented in Pound (£1 which is also the functional currency of the charity. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The following accounting policies have been applied consislently 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. The financial statements have been prepared in accordance with the Statement of Recommended Practice {SORPI "Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland FRS 102" applying Section 1A of that standard. As permilled by the Companies Act 2006. the charity has varied the standard formats in that act for Ihe Statement of Financial Activities and the Balan Sheet. Departures from the standard formats are lo comply with the requirements of the Charities SORP and are in compliance with section 4.7. 10.6 and 15.2 of that SORP. statement of ¢ompliance The financial slalements of the charity for the financial period ended 31 Dember 2017 have been prepared on the going concern basis and in accordance with the Statement of Recommended Practice (SORP} "Accounting and Reporting by Charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland FRS 102" applying Section 1A of that Standard. Fund accounting The following are the categories of funds maintained.. Restricted funds Restricted ftjnds represent income reiVed which can only be used for particular purposes. as specified by the donors. Such purposes are within the overall objectives of the charity. Unrestrlcted funds Unrestricted funds consist of General and Designated fijnds. General funds repsent amounts which are expendable at the discretion of the board, in furtherance of the objectives of the charity. Designaled funds comprise unrestricted funds that the board has. al ils 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 Activtlies only when the charity is legally entiued to the income. perfomiance conditions attached lo the itemls} of income have been mel, the amounts involved can be measured with sufficient reliability and il is probable that the income will be received by the charity. Income from charitable activities Income from charitable activities includes income earned from the supply of servi¢e$ under contractual arrangements and from performance related grants which have conditions that specify the provision ofparticular services lo be provided by the charity. Income from government and other co-funders 15 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 reiVed in advance, its recognition is deferred and included in credilors. Where entitlement occurs before income is received. Il Is accrued in debtors. Grants from governments and other co-funders typically include one of the following types of condilions.. Performance based conditions.. whereby the charity is conlraclually entitled to funding only to the extent that the core objectives of the grant agreement are achieved. Where the charily 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.
continued Nua Festival NOTES TO THE FINANCIAL STATEMENTS for the financial period from 23 February 2023 (date of incorporation) to 30 June 2024 -Time based conditions.. whereby the charity is contractually entitled to funding on the condition that it is ulilised in a particular period. In these cases, the charity recognises the income to the extent il is ulilised within the period specified in the agreement. 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 nolified of entitlement. Grants received towards capital expenditure are credited lo the Statement of Financial Activities when received or receivable. whichever is earfier. 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 when a legal or constructive obligation exists as a result of a past event, a transfer ol economic benefits is required in selllemenl 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 lo activities in proportion to staff time spent or other suitable measure for each activity. Leasing Rentals payable under operating leases are dealt with in the profil and Ioss account as incurred over the period of the rental agreement. Debtors Deblors 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. bul r701 yel received at financial period end, is included in debtors. Cash at bank and in hand Cash al bank and in hand comprises cash on deposit at banks requiring less than three months, notice of withdrawal. Taxation and deferred tsxation No current or deferred laxalion arises as the charity has been granted charitable exemption. Irrecoverable valued added tax is expensed as incurred. Deferred tax is recognised in respect of all timing differences that have originated but not reversed allhe balance sheet dale where transactions or events have occurred al that date that will result in an obligation lo pay more tax in the future. or a right to pay less tax in the future. Timing differences are temporary dIfferenS beeen the charity's taxable profits and ils results as slated in the financial slalemenls. Deferred lax is measured on an undiscounled basis at the tax rates that are anticipated lo apply in the periods in which the timing differences are expected to reverse, based on tsx rates and laws that have been enacted or substantively enacted by the balance sheet date. PERIOD OF FINANCIAL STATEMENTS The financial slaternents are for the 17 month period from 23 February 2023 10 30th June 2024. There are no comparative figures as the charity was only formed on 23td February 2023. INCOME DONATIONS AND LEGACIES Unrestricted Restricted Funds Funds Jun 24 Donalions Other income- ECF Offerings Gift Aid 34,235 38,336 37.779 6,863 34,235 38,336 37.779 6,863 117.213 117.213
continued Nua Festival NOTES TO THE FINANCIAL STATEMENTS for the financial period from 23 February 2023 {date of incorporation) lo 30 June 2024 OTHER TRADING ACTIVITIES Unrestricted Restricted Funds Funds Jun 24 Ticket Sales 102.117 102,117 OTHER INCOME Unrestricted Restricted Funds Funds Jun 24 Other income 1,300 1,300 EXPENDITURE CHARITABLE ACTIVITIES Direct Costs Other Costs Support Costs Jun 24 Expenditure on charitable actimties 160.136 2.870 163.006 SUPPORT COSTS Charltable Activities Jun 24 Accountancy Legal Fees Bank Fees 960 1,200 710 960 1.200 710 2,870 2,870 NET INCOME Jun 24 Net Income Is stated after ¢hargingllcrediting): Independent Examiner fees 960 DEBTORS Jun 24 Prepayments and accrued income 2,377 CASH AND CASH EQUIVALENTS Jun 24 Cash and bank balances 86.575 10. CREDITORS Amounts falling due within one year Jun 24 Accruals and deferred income 31.328
continued Nua Festival NOTES TO THE FINANCIAL STATEMENTS for the financial perit)d from 23 February 2023 (dale of incorporation) 10 30 June 2024 11. RESERVES Jun 24 Surplus for the financial period 57,624 At the end of the year 57,624 12. FUNDS 12.1 RECONCILIATION OF MOVEMENT IN FUNDS Unrestricted Funds Totsl Funds At 23 February 2023 Al 22 February 2023 Movement during the financial year 57.624 57.624 At 30 June 2024 57,624 57,624 12.2 ANALYSIS OF MOVEMENTS ON FUNDS Income Expenditure Transfers between funds Balance 30 June Jun 24 Unrestricted funds Unrestricted General 220.630 163,006 57,624 Total funds 220.630 163,006 57,624 12.3 ANALYSIS OF NET ASSETS BY FUND Current assets Current liabilities Totsl Unrestricted general funds 88,952 131,328) 57,624 88,952 (31,3281 57,624 13. POST-BALANCE SHEET EVENTS There have been no significant events affecting the Charity since the financial period-end. 14. TRUSTEE REMUNERATION The trustees did not receive nor did they waive any remuneration during the current financial period, 15. INDEPENDENT EXAMINERS REMUNERATION The independent examiners remuneration amounts to an independent examination fee of £960 including vat. No other monies have been paid to the independent examiners.