The trustees 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) (effective 1 January 2019)".
New Lodge Arts is a thriving arts organisation delivering community arts projects across North Belfast. The organisation has a strong community focus and a passion for supporting the needs of young people from disadvantaged communities, New Lodge Arts continues to make a positive impact in the local area.
New Lodge Arts ensures their programmes are appealing and appropriate to local people. The diverse range of activities include a year round sustained programme of activity including dance, drama, visual arts, film making and youth leadership, volunteer development programme and event management. Additional programmes are delivered on a cross-community basis aimed at promoting physical regeneration and shared space.
New Lodge Arts has four main aims:
Fostering creativity and skills
Promoting Good Relations and a Shared Future
Building capacity to be a sustainable organisation
Marketing and communication
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
New Lodge Arts continued to strengthen and develop their annual arts programme, offering a diverse range of initiatives for people across north Belfast. These programmes continue to enrich the lives of participants, helping them to grow and develop, to reduce isolation and encourages them to become active citizens within their community.
Arts Academy (weekly classes)
The Arts Academy remains at the core of our work. Throughout the past year we delivered 19 weekly classes to 250 participants. Our programme included a range of creative activities including guitar lessons, craft classes, drawing classes, drama, hip hop, ballet, visual arts and youth theatre, continue to stimulate creativity, build self-esteem and develop confidence of participants. The classes make a huge impact on the participants. Here is a quote from an adult on our guitar lesson:
‘The class has helped me to relax at home as I practice the guitar. I would recommend this class to anyone. Any age, any ability. Scott is amazing at what he does and is very patient and encouraging. The group are all very friendly and welcoming.’
The Arts Academy provides performance opportunities throughout the year, giving participants an opportunity to share what they have learned.
DFA Funded Programme – Build Positive Change
Young people from New Lodge Arts and YWIC (Youth Work in Communities - EA @ Woodvale) involved in the TBUC Creative Voices Programme have moved on to Build Positive Change, funded by DfA. The group has participated in several design-based workshops facilitated by Steve Hunter (formerly Fablab Belfast) to design and build a portable pod that will be used to record local peoples’ experiences. The group surveyed attendees of the Spring Family Fun Day about the types of questions they propose to ask visitors to the pod and, from the responses, have created a set of interview questions. Working with Steve they have built pod prototypes and their work has been documented on film. This film was launched in Aug 2023.
ArtEz
Four resident artists from ArtEz, University of the Arts, Netherlands, were based with New Lodge Arts from April-Jun 2023. The artists in residence are studying at Masters degree level and exploring the role of socially engaged practice and artistic research that puts art to work in the name of equality and social justice. Currently all four are exploring the development of the Studio space. Ayham Ali worked with young people from New Lodge Youth Centre exploring shared space through the use of 3D printing. Clara Lee worked with the New Lodge Arts senior youth group to explore symbols. The group designed and created symbols representing their identity that were produced as temporary tattoos and stickers. They have also produced symbols for the Studio Space. Stephanie Hatzis looked at the functionality of the Studio – what is being used and how it is being used. Pompadó (Z.R.) Martha explored the creation of a cyber-learning space for digital and audio visual media in The Studio.
Summer Programme
The summer season in North Belfast just got a whole lot more dramatic, thanks to the annual Summer Drama Camps hosted by New Lodge Arts. With three camps catering to different age groups – Tinys, Junior, and Senior – these camps have become the highlight of the summer for aspiring young actors and theatre enthusiasts alike.
This year, the summer drama camps welcomed over 50 children, each bringing their unique talents and passion for the performing arts. From budding actors to future Broadway stars, these camps have nurtured young talent and provided an exceptional platform for creativity and self-expression.
Tinys Camp: A Partnership with C21 Theatre Company
The Tinys Camp, in partnership with the esteemed C21 Theatre Company, was a fantastic showcase of young talent with the theme of Backwards Fairytales. Under the guidance of experienced theatre professionals, these young thespians developed their skills and showcased them in a memorable performance at Girdwood Community Hub. The showcase was a testament to the power of collaboration and the boundless potential of young performers.
Junior Camp: A Heart-warming Production of 'Annie'
The Junior Camp, a group of talented young actors, delivered a heart-warming and memorable production of the beloved musical 'Annie.' The audience at the North Queen Street Community Centre were left in awe as they watched these young stars bring the timeless tale to life. The dedication and passion of the junior cast shone through in every scene, leaving not a dry eye in the house. Their performance was a true testament to the power of youth and the magic of theatre.
Senior Camp: 'The Little Mermaid' Makes a Splash
The Senior Camp, the crème de la crème of the summer drama experience, dazzled audiences with three sold-out shows of 'The Little Mermaid' at The MAC. This group of talented young teenagers not only delivered an incredible performance but also showcased stunning vocals that would be the envy of any West End production. The Senior Camp demonstrated what can be achieved through hard work, dedication, and a love for the arts.
The Summer Drama Camps offered participants more than just the chance to perform on stage. They provided a safe and nurturing environment for children and young adults to build self-confidence, develop communication skills, and make lasting friendships. The camp experience goes beyond the final bow, leaving participants with memories and skills that will last a lifetime.
The Agency
A collaboration with Battersea Arts Centre and Contact Theatre Manchester in 2023/2024 has secured the delivery of The Agency, a project that supports young people (aged 15-25), as social entrepreneurs, to make a difference and transform their local area in a way that they think is best (https://bac.org.uk/get-involved/the-agency/). We see The Agency as a progression opportunity for young people with a passion effecting social change in their communities.
In September, 18 local young people has the opportunity to participate in an award-winning creative entrepreneurship programme providing an opportunity to effect lasting change in their community.
The Agency programme was originally conceived by theatre maker, journalist and activist Marcus Faustini in the favelas of Rio de Janeiro. New Lodge Arts is working in partnership with Battersea Art Centre, London, Contact Theatre, Manchester, Storyhouse, Chester and Energize Me, Southampton. The programme aims to empower young people aged 15-25 to become creative leaders and catalysts for change in their communities.
Over the first 12 weeks, the young people developed projects and business ideas through a creative, theatre-based methodology. All projects must include a social action component that gives back to the community. The panel was greatly impressed by the project ideas and their presentations.
The three projects selected for funding were Abi Flannagan’s ‘From Seed 2 Plate’ (supported by Aoife Teer and produced by Tp Ward); Sophie Rossbotham’s ‘Rise Above the Ashes’ (supported by Grace Rogan and produced by Matt Faris); and a joint project by Maggie and Natalia called ‘New Heights’ (produced by Amy Smyth).
The young participants successfully executed their projects, engaging young people from communities across north Belfast. The funded projects offered a variety of activities, including hiking, gardening, journaling, and drama workshops.
Orla Hawkins, Project Coordinator of The Agency Belfast, said: ‘New Lodge Arts is delighted and proud to deliver The Agency Programme in Belfast. The programme aligns perfectly with our belief that young people should be at the heart of social change, mobilized around the social issues they care about. As a community-based organization operating in North Belfast, we are excited to see the creative and innovative projects our young people will develop and the positive impacts these projects will have on their areas. Being part of a national network like The Agency amplifies the voices and ideas of young people, creating a collective force for systematic change.’
The Agency stands as a shining example of how the programme ignites the passion for entrepreneurship and social change among young people. With its track record of success and its ongoing impact on the community, The Agency is a testament to the power of youth-driven initiatives in driving positive change.
North Belfast Lantern Festival
The North Belfast Lantern Festival's family fun day successfully unfolded amidst challenging weather conditions, attracting approximately 500 people. Held in Alexandra Park, the event featured a diverse array of activities, including arts and crafts, games, music, dancing, and live performances, creating a vibrant and engaging atmosphere for attendees of all ages. The festival also showcased its commitment to community engagement through an outreach programme that involved over 20 local groups and schools, fostering a sense of unity and collaboration. Despite the weather, the North Belfast Lantern Festival provided a joyful and inclusive experience for families, highlighting the resilience and spirit of the community.
Unfortunately due to a torrential downpour at 4pm, the park was flooded and the evening event was cancelled, which was hugely disappointing. Due to health and safety, there was no way we could proceed with the event.
New Lodge Arts Christmas Panto
This year, New Lodge Arts presented a fabulous production of "Snow White and the Black Forest Gateau," a delightful twist on the classic fairy tale, written by Maire Campbell and adapted by the talented Debra Hill. From the 12th to the 14th of December at Boys Model School, this Panto provided a magical experience filled with laughter and joy.
The heart-warming tale of Snow White takes an unexpected turn in this adaptation, bringing a scrumptious twist to the narrative with the inclusion of the Black Forest Gateau. Maire Campbell's creative genius, combined with Debra Hill's adaptation skills, adds a delectable layer to the beloved story, ensuring a unique and memorable experience for attendees.
One of the highlights of this production is the fabulous cast, comprised of talented young individuals from across North Belfast. These budding stars bring energy, enthusiasm, and a fresh perspective to the stage, infusing the performance with a vibrant and dynamic atmosphere. The witty dialogue, playful interactions, and clever comedic moments ensure that everyone in the audience, regardless of age, will find themselves thoroughly entertained. It's the perfect recipe for a joyous and festive evening out.
Girdwood – Christmas Event
Our Junior Youth Theatre group were delighted to spread some festive cheer of Girdwood Hubs' Christmas Event on Saturday 16th December 2023. With a shared passion for community involvement, they eagerly set up stations for arts and crafts, marshmallow snowmen, card making, inviting children to unleash their imagination. Dressed as Santa's faithful elves, they guided eager children through the festivities, supporting Santa as he gave out the selection boxes to the excited children. We were hugely proud of our young people and looking forward to getting them back again to help at future events.
Girdwood Half Term Camp
From 12th-14th February 2024, we delivered a 3-day camp in partnership with the Girdwood Shared Space Group (Let Youth Lead, TAMHI, CCRF & BCC). 60 young people participated in a range of drama, arts & crafts and sport. We hope to build on this programme and provide additional activities during school holidays.
Spring Awakening
The annual event took place on Saturday 23rd March 2024. The event included a range of youth led activities, arts and crafts, games, music, dance and performances. Despite the weather, over 300 people attended.
Funding and support
New Lodge Arts is widely supported by a range of statutory and charitable sources including Arts Council NI, Belfast City Council and The Executive Office. Support from Trusts & Foundations is key to the delivery of our annual programme and we are very grateful to Tudor Trust, Garfield Weston, Henry Smith Charity and Halifax Foundation for their support.
At 31 March 2024, the total funds of the charity amounted to £101,573 (2023 - £86,700) comprising £61,880 (2023 - £43,691) of restricted funds and £39,693 (2023 - £43,009) of unrestricted funds.
The directors retain funds in the charity in order to provide sufficient working capital to facilitate the ongoing activities. The current level of free reserves is sufficient to meet approximately 2 months salary and running costs. The target for unrestricted reserves is six months support costs in cash at bank.
The directors have conducted a review of the major risks to which the charity is exposed. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces. Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the premises. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.
New Lodge Arts is a charitable company limited by guarantee, incorporated on 28 July 2010. It is governed by its Memorandum and Articles of Association. It has no share capital and the guarantee of each member is limited. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
The directors of the company are also charity trustees for the purposes of charity law. Under the requirements of the Memorandum and Articles of Association the directors retire by rotation and being eligible offer themselves for re-election.
Individuals are invited to serve as directors on the basis of their abilities and background so as to achieve a balance between those from the business and charity sectors.
New Lodge Arts has a Board of directors who meet regularly and are responsible for the strategic direction and policy of the charity.
A scheme delegation is in place and day to day responsibility for the provision of the services rest with the manager, Anne Delaney.
The trustees, who are also the directors of New Lodge Arts for the purpose of company law, are responsible for preparing the Trustees' 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 trustees 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 trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- 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 trustees 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.
In accordance with the company's articles, a resolution proposing that GMcG BELFAST be reappointed as auditor of the company will be put at a General Meeting.
The trustees' report was approved by the Board of Trustees.
Opinion
We have audited the financial statements of New Lodge Arts (the ‘charity’) for the year ended 31 March 2024 which comprise the statement of financial activities, the balance sheet 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:
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.
In auditing the financial statements, we have concluded that the trustees' 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 trustees with respect to going concern are described in the relevant sections of this report.
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 trustees 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 trustees' report for the financial year for which the financial statements are prepared, which includes the directors' report prepared for the purposes of company law, is consistent with the financial statements; and
the directors' report included within the trustees' report has been prepared in accordance with applicable legal requirements.
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 trustees' 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
we have not received all the information and explanations we require for our audit; or
the trustees 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 trustees' report and from the requirement to prepare a strategic report.
As explained more fully in the statement of trustees' responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, 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 trustees 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 trustees 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 trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
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.
The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
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:
The nature of the industry and sector, control environment and business performance, including the company’s remuneration policies for directors, bonus levels and performance targets, if any;
Results of our enquiries of management about their own identification and assessment of the risks of irregularities;
Any matters we identified having obtained and reviewed the company’s documentation of their policies and procedures relating to:
Identifying, evaluating and complying with laws and regulations and whether they were aware of any instance of non-compliance;
Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
The matters discussed among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indicators of fraud.
As a result of these procedures, we considered the opportunities and incentives that may exist within the 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 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.
Our procedures to respond to the risks identified included the following:
Reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
Enquiring of management concerning actual and potential litigation and claims;
Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
Reading minutes of meetings of those charged with governance and reviewing correspondence with tax authorities; and
In addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgements made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.
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.
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.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
New Lodge Arts is a private company limited by guarantee incorporated in Northern Ireland. The registered office is Ashton Centre, 5 Churchill Street, Belfast, BT15 2BP.
The financial statements have been prepared in accordance with 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 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.
Despite its relatively low level of unrestricted funds, the organisation does not have any external debt and has historically had the financial support of its controlling charity. Taking all factors into consideration, 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.
Unrestricted funds are available for use at the discretion of the trustees 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.
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.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity and include project management. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
All expenditure is inclusive of irrecoverable VAT.
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:
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.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
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.
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, 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.
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.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
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.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Sale of goods
Artistic and project costs
The average monthly number of employees during the year was:
The remuneration of key management personnel was as follows:
The charity is exempt from income tax and capital gains tax to the extent that its income and gains are applied for charitable purposes. No tax charge has arisen in the year.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
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.
See note 16 for explanatory notes to the funds.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
During the year 31 March 2024 transfers were made from unrestricted funds to restricted funds to cover restricted expenditure. There were also transfers between restricted funds which were necessary to reallocate expenditure.
Community Pride Programme
This funding from the Northern Ireland Community Relations Council goes towards the Summer Arts Academy, North Belfast Festival, Winter Fest Programme and Youth Leadership Programme.
Harbour commission
Secured a Harbour commission award to deliver a spring family fun day.
Arts Council NI
This funding from the Arts Council of Northern Ireland National Lottery fund is toward Artistic and administration costs.
Belfast City Council
This funding from several Belfast City Council grants, supports various festivals and projects including costs of Artists and full time-equivalent staff.
Partnership
This funding was received from various partnerships to help deliver festivals and programmes across North Belfast.
Henry Smith
This funding from Henry Smith is towards running costs for a project delivering art workshops to disadvantaged communities in North Belfast.
Garfield Weston
This funding from Garfield Weston is towards running costs and art workshops to disadvantaged communities.
The Agency
This funding, provided by The Agency in partnership with Battersea Arts Centre, alongside Peoples Palace Projects and New Lodge Arts, enables us to deliver an innovative Youth Entrepreneurship Programme in Belfast.
Dormant funding
This funding from the Lottery Dormont Accounts, we are now able to establish and develop a digital recording studio. This will provide opportunities for additional workshops, classes, and the potential to evolve into a social enterprise for New Lodge Arts.
EA - TBUC
This funding from the Education Authority was used to facilitate cross-community work, offering young people the opportunity to participate in a residential program and develop a social action project.
As the charitable company is a wholly owned subsidiary, the directors have taken advantage of the exemptions from disclosing related party transactions with other wholly owned group companies, in accordance with FRS 102.
No other transactions with related parties were undertaken that are required to be disclosed under FRS 102 Section 1A.