Charity registration number NIC102016
Company registration number NI603571 (Northern Ireland)
OUTBURST ARTS FESTIVAL
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
OUTBURST ARTS FESTIVAL
LEGAL AND ADMINISTRATIVE INFORMATION
Directors
Ms K McAleese
Mr M Eaglesham
Ms C McCusker
Ms C Campbell
Ms F Carolan
Mr D Codling
Mr E Dara
Charity number
NIC102016
Company number
NI603571
Principal address
Third Floor
109-113 Royal Avenue
Belfast
BT1 1FF
Registered office
Third Floor
109-113 Royal Avenue
Belfast
BT1 1FF
Auditor
GMcG LISBURN
Century House
40 Crescent Business Park
Lisburn
BT28 2GN
Bankers
Co-Operative Bank
Delf House
Southway
Skelmersdale
WN8 6WT
Danske Bank
P.O. Box 183
Donegall Sq West
Belfast
BT1 6JS
OUTBURST ARTS FESTIVAL
CONTENTS
Page
Directors' report
1 - 4
Independent auditor's report
5 - 10
Statement of financial activities
11
Statement of financial position
12
Notes to the financial statements
13 - 25
OUTBURST ARTS FESTIVAL
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MARCH 2024
- 1 -

The directors present their annual report and financial statements for the year ended 31 March 2024.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association 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)

Objectives and activities

The company is established exclusively for charitable purposes, namely for the production of the annual Outburst Queer Arts Festival in Belfast.

Outburst Arts Festival (Outburst) is a charity organisation and community platform for sharing and exploring queer experiences stories and ideas and through theatre, film, music, writing, workshops, visual art and other creative disciplines. Our aim is to challenge, to entertain, to surprise, to support and develop new talent and raise awareness of queer experiences through the Arts in Northern Ireland. We are particularly interested in bold new ideas and engaging voices, offering a platform for innovative new work that is not available elsewhere.

The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

Achievements and performance

2023/24 brought exciting new opportunities and developments both locally and internationally for Outburst Arts, supporting the organisation to successfully navigate the widespread challenges faced by arts many organisations in the region, especially in relation to income, sustainability and staffing. With a brand-new Strategic Plan (2023-25) and refreshed aims, significant new international partnerships enabled wider reach for our work, while securing a new part time Producer for the team significantly enhanced and supported the delivery of our creative outputs, operations and artist support.

Our international connections continued to grow and deepen and at home we expanded our non-festival programme to support artist career development. Our Salons at Bullitt Hotel continued to support audience development, while the expansion of the one-to-one Clinic+ service on-demand for artists, with almost 100 half-hour sessions delivered, this continued to ensure that our doors were open to queer artists needing advice, information and feedback.

We delivered a successful all-island four-date tour of Richard O’Leary’s Border Fairies, which was our first full tour of an Outburst-commissioned work. Our artist development partnership with Jerwood Arts, Tongue & Heart, engaged four established and emerging artists to access mentoring, resources and support to make new works for the 2023 festival.

We won a significant tender from Belfast 2024 to partner with Kabosh and Paperxclips Bookshop on an ambitious new project, Are You On the Bus, that would be developed throughout 2024, including two new performance works, a publications series and satellite community engagement events through the year leading up to the festival.

In line with our strategic aim of resourcing of more new work in addition to our development programme works, we supported two new commissions, It Was Paradise, Unfortunately by Jordanian playwright Raphaël Amahl Khouri, and The Headless Soldier, an ambitious new opera by Conor Mitchell and Mark Ravenhill.

Further developing our established partnerships with QFT, Queen’s University and Sunflower Bar, we developed a new partnership with Ulster University to deliver an exhibition by acclaimed New York photographer Alice O’Malley. We also reignited our Irish language partnership with Cultúrlann in West Belfast and expanded festival events to the East of the city with events at Portview Trade Centre and to North Belfast of the city with two events at Carlisle Memorial Church.

OUTBURST ARTS FESTIVAL
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 2 -

International Research, Development and Partnership

With newly developed support from Nebula Fund around narrative change and the arts, we partnered with International Gay and Lesbian Association (ILGA) to deliver Juntes, a global project spotlighting trans/ feminist solidarity and that connected activism with the arts. We co-delivered this two-part project in Brazil and at the festival in Belfast, with over 40 activists and artists from over 30 countries attending across the project. This significantly enhanced our network and profile and opened new possibilities for artist support.

Established British Council connections enabled research and development work in Argentina, Poland and Nepal. Our partnership work with Kaalo 101 in Kathmandu was ongoing through 2023-24, with Outburst in a mentoring and artist support role. British Council Turkey supported Outburst participation at the WOW, Women of the World, festival in Istanbul, with the visit also including queer artist research and a presentation of Outburst commission It Was Paradise, Unfortunately at Pera Museum.

We were successful in winning a significant grant from British Council France to work with Festival Transform! in Marseille as part of the UK/France Spotlight Season across 2024. We further developed our relationship with the Lithuanian Cultural Attaché to the UK/ Lithuanian Cultural Institute, with Lithuanian artists participating in the festival.

 

The 2024 festival saw artist participation and delegates from Greece, Turkey, Lithuania, Ghana, South Africa, France, USA, Argentina, Republic of Ireland, Germany and Jordan.

Organisational Development and Wider Participation

The most significant element of our organisational development in 2023/24 was the implementation of a new Strategic Plan that had been two years in development with the team and Board. The plan confidently honed our ambitions to centre artist development, audience development and commissioning of new work, building on our international connections while advocating for increased support and recognition for the arts and artists at home.

Welcoming a new Producer, Caleb Roberts, to the team in June 2023 hugely supported the Artistic Director in delivering the development programme and producing of the festival. With the Executive Director role now established, we also had the capacity to participate and engage more in events and opportunities with organisations such as Arts & Business, Thrive and Festivals Forum. In other staffing developments, Mícheál McCann joined us as part time Head of Literature Development for a fixed period of one year.

In addition to established support from statutory funders, Arts Council of Northern Ireland and Belfast City Council, we received new support from Nebula Fund and Belfast 2024, as well as Ireland Funds and NI Screen.

As part of our financial procedures review, the Board elected to move our organisational banking services to Danske Bank, enabling better walk-in business services, dual authorisation on payments for more robust security, and more flexible online banking. The new account was set up in this financial period and, to enable smooth operations, the established account will be phased out by the end of the financial year 2024/25.

It was a busy year for wider participation beyond Outburst’s own work, with participation as a delegate at Arts Council England’s Horizon showcase at the Edinburgh Festivals, artists partnership work in Berlin and at Berlinale and non-festival film introductions at QFT, as well as participation on other panels and in talks.

OUTBURST ARTS FESTIVAL
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
Financial review

The directors consider that the unrestricted funds of the charity have sufficient resources and assets available which are adequate to fulfil their obligations.

 

The results for the period are as set out on pages 11 to 25. The charity returned net incoming resources of £36,235 (2023 - net outgoing resources of £86,741) of which there were net incoming unrestricted resources of £19,320 (2023 - net outgoing resources of £446) and net incoming restricted resources of £16,915 (2023 - net outgoing resources of £86,295). At 31 March 2024 the balance of unrestricted reserves were £92,394 (2023 - £73,074) and restricted reserves of £83,426 (2023 - £66,511).

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.

The directors have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

We move forward into 2024/25 in a strong position in terms of support, outputs, governance and profile, while also preparing for the challenges ahead in securing new multiannual core funding that will support and strengthen the sustainability for Outburst in an increasingly turbulent funding climate for arts organisations.

Structure, governance and management

The charity is a company limited by guarantee and a registered charity for tax purposes.

The directors who served during the year and up to the date of signature of the financial statements were:

Ms K McAleese
Mr M Eaglesham
Ms C McCusker
Ms C Campbell
Ms F Carolan
Mr D Codling
Mr E Dara

Key Management Personnel Remuneration

The Board consider the board of directors and the artistic director as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day to day basis. All board members give of their time freely and no board remuneration was paid in the year. Board members are required to disclose all relevant conflict of interests and register them at each monthly board meeting and in accordance with the charity's policy withdraw from decisions where a conflict of interest arises.

OUTBURST ARTS FESTIVAL
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
Statement of directors' responsibilities

The directors, who also act as trustees for the charitable activities of Outburst Arts Festival, are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

 

Company Law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

 

In preparing these financial statements, the directors are required to:

 

- select suitable accounting policies and then apply them consistently;

 

- observe the methods and principles in the Charities SORP 2019 (FRS 102)

 

- make judgements and estimates that are reasonable and prudent;

 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.

 

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. 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.

Disclosure of information to auditor

Each of the directors has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies' exemption.

The directors' report was approved by the Board of Directors.

Mr D Codling
Director
Dated: 23 October 2024
OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
- 5 -

Opinion

We have audited the financial statements of Outburst Arts Festival (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the statement of financial position and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

-

give a true and fair view of the state of the charitable company's affairs as at 31 March 2024 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;

-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-

have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

 

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
- 6 -

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

 

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

-

the information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-

the directors' report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report included within the directors' report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

-

adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-

the financial statements are not in agreement with the accounting records and returns; or

-
certain disclosures of trustees' remuneration specified by law are not made; or
-

we have not received all the information and explanations we require for our audit; or

-

the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the directors' report and from the requirement to prepare a strategic report.

OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
- 7 -
Responsibilities of directors

As explained more fully in the statement of directors' responsibilities, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
- 8 -
Extent to which the audit was considered capable of detecting irregularities, including fraud

We identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and then design and perform audit procedures responsive to those risks, including obtaining audit evidence that is sufficient and appropriate to provide a basis for our opinion.

In identifying and assessing potential risks of material misstatement in respect of irregularities, including fraud and non-compliances with laws and regulations, we considered the following:

As a result of these procedures, we considered the opportunities and incentives that may exist within the charitable company for fraud and identified the greatest potential for fraud in income recognition. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the charitable company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Companies Act 2006, and local tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company’s ability to operate or to avoid a material penalty.

OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
- 9 -
Audit reponse to risks identified

Our procedures to respond to the risks identified included the following:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. In addition, as with any audit, there remains a higher risk of non-detection of irregularities, as they may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

OUTBURST ARTS FESTIVAL
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBERS OF OUTBURST ARTS FESTIVAL
- 10 -

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Mr Stephen Houston FCA (Senior Statutory Auditor)
for and on behalf of GMcG LISBURN
23 October 2024
Chartered Accountants
Statutory Auditor
Century House
40 Crescent Business Park
Lisburn
BT28 2GN
OUTBURST ARTS FESTIVAL
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
- 11 -
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
Notes
£
£
£
£
£
£
Income from:
Donations and legacies
3
23,128
345,691
368,819
15,025
218,945
233,970
Charitable activities
4
18,676
-
18,676
10,422
-
10,422
Total income
41,804
345,691
387,495
25,447
218,945
244,392
Expenditure on:
Charitable activities
5
26,185
325,075
351,260
25,893
305,240
331,133
Total expenditure
26,185
325,075
351,260
25,893
305,240
331,133
Net income/(expenditure)
15,619
20,616
36,235
(446)
(86,295)
(86,741)
Transfers between funds
11
3,701
(3,701)
-
-
-
-
Net movement in funds
19,320
16,915
36,235
(446)
(86,295)
(86,741)
Reconciliation of funds:
Fund balances at 1 April 2023
73,074
66,511
139,585
73,520
152,806
226,326
Fund balances at 31 March 2024
92,394
83,426
175,820
73,074
66,511
139,585

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

OUTBURST ARTS FESTIVAL
STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024
31 March 2024
- 12 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
12
3,381
3,926
Current assets
Debtors
13
39,227
37,159
Cash at bank and in hand
148,992
122,558
188,219
159,717
Creditors: amounts falling due within one year
14
(15,780)
(24,058)
Net current assets
172,439
135,659
Total assets less current liabilities
175,820
139,585
Income funds
Restricted funds
15
83,426
66,511
Unrestricted funds
92,394
73,074
175,820
139,585
The financial statements were approved by the board of Directors and authorised for issue on
23 October 2024
23 October 2024
and are signed on its behalf by:
Mr M Eaglesham
Mr D Codling
Trustee
Trustee
Company registration number NI603571
OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 13 -
1
Accounting policies
Charity information

Outburst Arts Festival is a private company limited by guarantee incorporated in Northern Ireland. The registered office and place of business is Third Floor, 109-113 Royal Avenue, Belfast, BT1 1FF.

1.1
Accounting convention

The financial statements have been prepared in accordance with the charity's Memorandum and Articles of Association, 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) (effective 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. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the directors 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 directors in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

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.

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.

In-kind support is included when receivable.

Grants that relate to specific capital expenditure are treated as restricted income which is credited to the Statement of Financial Activities when receivable. Revenue grants are credited to the Statement of Financial Activities in accordance with the terms of the letter of offer.

Investment income is included when receivable.

OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies (Continued)
- 14 -
1.5
Resources expended

Expenditure is recognised on an accruals basis as a liability is incurred.

Charitable expenditure comprises those costs incurred by the charity in the deliver of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature to support them.

Support costs are those functions that assist work of the charity but do not directly undertake charitable activities. Support and other costs have been allocated to charitable activities based on actual usage by that activity.

1.6
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7
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.

1.8
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 the 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.

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.

OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies (Continued)
- 15 -
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.

Derecognition of financial liabilities

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

1.9
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.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the directors 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.

Restricted and unrestricted funds

Judgements are made in relation to allocation of income and expenditure to restricted and unrestricted funds. The directors consider lit appropriate to allocate these funds based on interpretation of donations received.

Support costs

Judgements are made in relation to the allocation of support costs of the charity to its charitable activities. The directors consider it appropriate to allocate these costs based on the allocation of grant funding to the charitable activities in the year.

OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 16 -
3
Donations and legacies
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
funds
funds
funds
funds
2024
2024
2024
2023
2023
2023
£
£
£
£
£
£
Donations and gifts
3,128
-
3,128
1,250
-
1,250

Grants receivable for core activities

19,000
345,691
364,691
12,775
218,945
231,720
Sponsorship
1,000
-
1,000
1,000
-
1,000
23,128
345,691
368,819
15,025
218,945
233,970
Grants receivable for core activities
ACNI Annual Funding Programme
-
57,500
57,500
-
64,000
64,000
Belfast City Council Cultural Multi-Annual
-
45,000
45,000
-
45,000
45,000
British Council NI
4,000
20,500
24,500
3,000
20,862
23,862
Ulster University
-
500
500
-
-
-
NI Screen
-
11,250
11,250
-
-
-
Paul Hamlyn Foundation
-
90,000
90,000
-
-
-
Public Health Agency
-
2,000
2,000
-
2,000
2,000
Film Hub
-
380
380
-
-
-
ACNI Commissioning Grant
-
-
-
-
6,000
6,000
Belfast City Council - Belfast 2024 and R&D
-
42,000
42,000
-
-
-
Nebula
15,000
64,561
79,561
-
-
-
The Ireland Funds
-
10,000
10,000
-
-
-
DWF
-
2,000
2,000
-
-
-
QUB Drama
-
-
-
-
1,000
1,000
Jerwood Arts
-
-
-
2,000
41,400
43,400
Department of Foreign Affairs Reconciliation Fund
-
-
-
675
7,424
8,099
Liberty IT
-
-
-
-
3,659
3,659
Arts & Business Council
-
-
-
-
5,000
5,000
National Museums
-
-
-
-
4,800
4,800
GCN (Gay Community News)
-
-
-
-
500
500
Belfast City Council Research
-
-
-
7,100
14,800
21,900
British Council Poland
-
-
-
-
2,500
2,500
19,000
345,691
365,691
12,775
218,945
231,720
OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 17 -
4
Income from charitable activities
Unrestricted
Unrestricted
funds
funds
2024
2023
£
£

Box office sales

14,030
7,726

Other income

3,103
1,720

Merchandise sales

1,543
976
18,676
10,422
5
Expenditure on charitable activities
2024
2023
£
£
Staff costs
129,059
127,430
Depreciation and impairment
846
999

Artists

179,655
159,390

Festival expenditure

9,573
12,254

International development costs

7,099
3,488

Marketing and publications

9,131
9,144

Temporary Staff Fees

-
5,400
335,363
318,105
Share of support and governance costs (see note 7)
Support
11,319
8,888
Governance
4,578
4,140
351,260
331,133
Analysis by fund
Unrestricted funds
26,185
25,893
Restricted funds
325,075
305,240
351,260
331,133
6
Description of charitable activities

The production of the annual Outburst Queer Arts Festival in Belfast to advance the education of the public, and in particular Lesbian, Gay, Bisexual and Transgender people, in the arts, through theatre, visual arts, music, film, dance, writing, performance, workshops, and debate and the cultivation of public appreciation of those arts in Northern Ireland.

OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 18 -
7
Support costs
Support costs
Governance costs
2024
Support costs
Governance costs
2023
Basis of allocation
£
£
£
£
£
£

Printing and postage

796
-
796
752
-
752

Useage

Rent

8,232
-
8,232
6,299
-
6,299

Useage

Governance and training

446
-
446
1,369
-
1,369

Useage

Bank charges

843
-
843
143
-
143

Useage

Sundry

1,002
-
1,002
325
-
325

Useage

Audit fees
-
3,240
3,240
-
2,820
2,820
Governance
Accountancy
-
1,338
1,338
-
1,320
1,320
Governance
11,319
4,578
15,897
8,888
4,140
13,028
Analysed between
Charitable activities
11,319
4,578
15,897
8,888
4,140
13,028

Governance costs includes payments to the auditors of £3,240 (2023- £2,820) for audit fees.

OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 19 -
8
Directors
None of the directors (or any persons connected with them) received any remuneration or benefits from the charity during the year.
9
Employees

The average monthly number of employees during the year was:

2024
2023
Number
Number
4
4
Employment costs
2024
2023
£
£
Wages and salaries
119,462
118,076
Social security costs
6,772
6,855
Other pension costs
2,825
2,499
129,059
127,430
There were no employees whose annual remuneration was more than £60,000.
Remuneration of key management personnel

The remuneration of key management personnel was as follows:

The charity considers its key management personnel to comprise the Artistic Director. The total emoluments paid to key management personnel was £50,797 (2023 - £53,275).

10
Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

11
Transfers

Transfers of £3,089 from restricted funds to unrestricted funds in the year relate to organisational time spent by the charity.

OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 20 -
12
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 April 2023
12,333
Additions
300
At 31 March 2024
12,633
Depreciation and impairment
At 1 April 2023
8,407
Depreciation charged in the year
845
At 31 March 2024
9,252
Carrying amount
At 31 March 2024
3,381
At 31 March 2023
3,926

 

13
Debtors
2024
2023
Amounts falling due within one year:
£
£
Prepayments and accrued income
39,227
37,159
14
Creditors: amounts falling due within one year
2024
2023
£
£
Accruals and deferred income
15,780
24,058
OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 21 -
15
Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

Movement in funds
Movement in funds
Balance at
31 March 2022
Incoming resources
Resources expended
Balance at
1 April 2023
Incoming resources
Resources expended
Transfers
Balance at
31 March 2024
£
£
£
£
£
£
£
£
ACNI Annual Funding Programme
-
64,000
(64,000)
-
57,500
(57,277)
-
223
ACNI Equipment Grant
1,794
-
(359)
1,435
-
(287)
-
1,148
ACNI Commisioning Grant
-
6,000
-
6,000
-
-
-
6,000
British Council Americas
91
-
(18)
73
-
(15)
-
58
British Council Northern Ireland
4,616
20,862
(24,027)
1,451
20,500
(16,415)
(390)
5,146
Film Hub NI
-
-
-
-
380
(380)
-
-
Paul Hamlyn Foundation
75,036
-
(73,456)
1,580
90,000
(79,997)
-
11,583
Public Health Agency
-
2,000
(2,000)
-
2,000
(2,000)
-
-
DWF
-
-
-
-
2,000
(2,000)
-
-
The Ireland Funds
-
-
-
-
10,000
(10,000)
-
-
Belfast City Council CMAG
268
45,000
(44,976)
292
45,000
(45,002)
-
290
British Council Americas Evaluation
3,017
-
(3,008)
9
-
(9)
-
-
British Council Digital Collaboration
11,303
-
(4,915)
6,388
-
(6,383)
(5)
-
Ulster University
-
-
-
-
500
(500)
-
-
Goethe Institute
3,771
-
(711)
3,060
-
(3,060)
-
-
Belfast City Council - Belfast 2024 and R&D
-
-
-
-
42,000
(943)
(1,149)
39,908
Nebula
-
-
-
-
64,561
(64,344)
(217)
-
British Council International Collaboration
52,910
-
(50,500)
2,410
-
(2,410)
-
-
NI Screen
-
-
-
-
11,250
-
-
11,250
QUB Drama
-
1,000
(1,000)
-
-
-
-
-
British Council Poland
-
2,500
(505)
1,995
-
(1,995)
-
-
Jerwood Arts
-
41,400
(12,262)
29,138
-
(22,938)
-
6,200
Department of Foreign Affairs Reconciliation Fund
-
7,424
(23)
7,401
-
(5,461)
(1,940)
-
Belfast City Council Research
-
14,800
(13,180)
1,620
-
-
-
1,620
National Museums
-
4,800
(4,800)
-
-
-
-
-
Arts & Business Council
-
5,000
(5,000)
-
-
-
-
-
GCN (Gay Community News)
-
500
(500)
-
-
-
-
-
Liberty IT
-
3,659
-
3,659
-
(3,659)
-
-
OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15
Restricted funds (Continued)
- 22 -
152,806
218,945
(305,240)
66,511
345,691
(325,075)
(3,701)
83,426

Arts Council Northern Ireland (ACNI) Annual Funding Programme (AFP)

To develop, produce and deliver the annual Outburst Queer Arts Festival and Queer Arts Development Programme

 

Arts Council Northern Ireland (ACNI) Equipment Grant

To purchase essential operational and tech equipment for ongoing use for the Organisation.

 

ACNI Commissioning Grant

To produce "The New Lesbian Songbook" project.

 

British Council Americas

To work on peer research, networking and training support in the Americas; to build international partnerships with artists and producers in the Americas; to support emerging queer artists and producers in the Americas.

 

British Council NI

To provide support for the organisation to host delegates for an international symposium for Outburst Queer Arts Festival; to provide support for NI artist development in an international context.

 

Film Hub NI Cinema Day

To deliver a programme for Queens University Film Hub Cinema Day.

 

Paul Hamlyn Foundation

To support Artistic Director’s development through growth of the organisation’s programming and operational capacity.

 

Public Health Agency

To produce events which promotes Public Health messages around gender and sexuality as part of the Outburst Queer Arts Festival.

 

DWF

To provide support to produce issue 3 of ‘Catflap’, Outburst’s Annual Literary publication.

 

The Ireland Funds

To provide support for Core Staff Costs.

 

 

 

OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15
Restricted funds (Continued)
- 23 -

Belfast City Council CMAG

Multi Annual Funding (2 years) to provide support towards organisational Core Costs and programming in relation to the annual Outburst Queer Arts Festival.

 

British Council Americas Evaluation

To develop and deliver a creative evaluation of the Outburst Americas project to date.

 

British Council Digital Collaboration

To provide support for the Translating Queer/Kuir project, working with existing partners in Brazil and Argentina on internet based research around international co production that will continue into 2021/2022.

 

Ulster University

To provide support for Alice O’Malley Event at Festival 2023

 

Goethe Institute

To provide support for German and German based artists to participate in Outburst Queer Arts Festival and wider Outburst Arts programmes.

 

Belfast City Council - Belfast 2024

To provide support for the delivery of ‘Are you on the Bus?’ in partnership with Kabosh Theatre Company, as part of the wider council funder programme running over the course of 2024.

 

Nebula

To provide support for delivery of ‘Juntes’ project in Brazil & Belfast, in collaboration with The International Lesbian, Gay, Bisexual, Trans, and Intersex Association & The Centre for Feminist Foreign Policy.

 

British Council International Collaboration

To support the implementation of activities under the British Council's International Collaboration Grants Project.

 

NI Screen

To provide Support for the production of a short film entitled ‘Purebred’

 

QUB Drama

Support towards producing Sarah Schulman event at Outburst Arts Festival 2022.

OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
15
Restricted funds (Continued)
- 24 -

 

British Council Poland

To support travel related costs for scoping visits to Poland

 

Jerwood Arts

Grant to deliver a year round sector-leading multi-disciplinary artist development programme for early and mid career artists.

 

Department of Foreign Affairs Reconciliation Fund

Funding to bring 'Border Fairies' on tour throughout the island of Ireland.

 

Belfast City Council LGBT Research

Funding to deliver a research project in partnership with LGBTQIA community organisations.

 

National Museums

Funding to support 2022 festival related activity in the Ulster Museum.

 

Arts & Business Council

Impact Investment funding to recognise the relationship between Outburst Arts and Bullitt Hotel.

 

GCN (Gay Community News)

Funding to support 'Eldering' event at festival.

 

Liberty IT

Funding to support the delivery of a series of Podcasts.

OUTBURST ARTS FESTIVAL
NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 25 -
16
Analysis of net assets between funds
Unrestricted
Restricted
Total
funds
funds
2024
2024
2024
£
£
£
At 31 March 2024:
Tangible assets
671
2,710
3,381
Current assets/(liabilities)
91,723
80,716
172,439
92,394
83,426
175,820
Unrestricted
Restricted
Total
funds
funds
2023
2023
2023
£
£
£
At 31 March 2023:
Tangible assets
838
3,088
3,926
Current assets/(liabilities)
72,236
63,423
135,659
73,074
66,511
139,585
17
Operating lease commitments
Lessee

At the reporting end date the charity had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

2024
2023
£
£
Within one year
2,294
3,058
Between two and five years
-
2,294
2,294
5,352
18
Related party transactions

There were no disclosable related party transactions during the year (2023 - none).

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