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← Living Archive Project

2025-03-31-accounts

REGISTERED COMPANY NUMBER: 02869264 (England and Wales) REGISTERED CHARITY NUMBER: 1032032

THE LIVING ARCHIVE PROJECT REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Thompson Balch Limited Chartered Accountants Sovereign House 15 Towcester Road Old Stratford Milton Keynes MK19 6AN

THE LIVING ARCHIVE PROJECT

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

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----- Start of picture text -----
Page
Report of the Trustees 1 to 2
Independent Examiner's Report 3
Statement of Financial Activities 4
Balance Sheet 5
Notes to the Financial Statements 6 to 13
Detailed Statement of Financial Activities 14
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THE LIVING ARCHIVE PROJECT

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their report and financial statements for the year ended 31 March 2025.

OBJECTIVES AND ACTIVITIES

The Living Archive Project ('Living Archive') was set up in 1984 'to advance public education by fostering, promoting and coordinating the development of the artistic and educational interpretation of documentary material'.

The objective is met by:-

  1. Collecting historical and contemporary material (artefacts, images and oral history recordings) about Milton Keynes and the towns and villages that constitute it;

  2. Making them available online as a resource to inform and educate the wider public; and

  3. Partnering with individuals and organisations to create performances and exhibitions based on collected material to inform, educate and entertain the public.

The Trustees have had due regard to the public benefit requirement under section 2 of the Charities Act 2011 and the Charity Commission's guidance on public benefit.

ACHIEVEMENT AND PERFORMANCE

2024-25 was a landmark year for the Living Archive, marking its fortieth anniversary. The milestone was celebrated with two concerts of established and new songs by the Living Archive Band and Future Songwriters, illustrated by images and recordings from the archive, to tell the story of Milton Keynes from the earliest times.

Other achievements included:-

Over the year several significant collections were added to the online archive, including the Phillip Cowlishaw Collection, the Bletchley Youth Centre Collection and MK People's Stories - a Museum for a New City.

There were 30 volunteers (including the Trustees) who contributed invaluable service towards the performance of the charity: mainly scanning, transcribing, summarizing, cataloguing and publishing online, but also attending meetings and events

FINANCIAL REVIEW

The results for the year are set out on page 4 . Unrestricted funds at 31st March 2025 were £18,642 (2024 £14,972), which was in line with the policy set out below.

The charity's policy is to maintain a reserve of unrestricted funds equivalent to at least 12 weeks of expenditure (and not more than 24 weeks) in order to ensure an orderly close down in the event that incoming funding cannot maintain the charity's operations. This level of reserves was met throughout the year.

The Trustees assessed the major risks to which the charity is exposed, and were satisfied that systems were in place to mitigate exposure

Page 1

THE LIVING ARCHIVE PROJECT REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025 STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is a company limited by guarantee. having Charitable Status and not having a share capltal. The 118bility of the members ( the Trustees ) is limited. In the event of a winding-up of the company, every member undertakes lo contrlbute an amount not exceeding £1. Th8 charity is governed by a Memorandum and Articles of Associakn'on. The number of members on Incorporation was 6, but the commlttee has raglstered an increase to 9. The mlnimum number of m8mber8 shall be not less than 3. New members are rocrulted by Invltstlon or 8pplIca￿On 8nd must be approved or rejected by the commlttee ( the Board l . The commlttee has the rtght lo lernilnate any member8hlp for good and sufficlent reason and may permit members to retire. The ¢h8rlty is managed by a part-tlme General frAanager - answerable to the committee - who18 a88iSted by Creative Cowordinator and Admlnl8trator- both 8180 part-time. REFERENCE AND ADMINISTRATIVE DETAILS The Living Archive Project Limited ('Living Archlve,) 18 registered In England and W8le8 88 a charty (no. 1032032) and limlted Company (no. 02869264). The prlnclpel 8nd reglstered office Is Mllton Keynes Museum, Mcconnell Drlve. Wolverton, Mllton Keyne8, MK12 SEL. The Tru8te.y, who are 81so the DSr&ctors for the purpose of company law, ond who 88r¥ed durfng tho year and up to th• date of slgneture of the Iln8nc181 statements were.. R KitGh8n Chalr D Bruce VSce Chalr (Archlves) and Treasurer V Holton VI￿ Chair (Arti8llc) M Ferns C Trfcks S Amoah L Bedeau T Hill J Lloyd-Knibb8 Approve(I by ryder of the board of trustees on 4 December 2025 and Slgned on ts behalf by. R F Kitchen - Trustee Page 2

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE LIVING ARCHIVE PROJECT

Independent examiner's report to the trustees of The Living Archive Project ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Denise Balch

The Institute of Chartered Accountants in England and Wales

Thompson Balch Limited Chartered Accountants Sovereign House 15 Towcester Road Old Stratford Milton Keynes MK19 6AN

4 December 2025

Page 3

THE LIVING ARCHIVE PROJECT

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Unrestricted
fund
Notes
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
2,994
Charitable activities
4
Project delivery
-
Other trading activities
3
1,306
Other income
668
Total
4,968
EXPENDITURE ON
Raising funds
5
128
Charitable activities
6
Project delivery
17
Other
1,170
Total
1,315
NET INCOME/(EXPENDITURE)
3,653
RECONCILIATION OF FUNDS
Total funds brought forward
14,972
TOTAL FUNDS CARRIED FORWARD
18,625		 Restricted
funds
£
-
107,107
-
-
107,107
-
116,622
-
116,622
(9,515)
43,806
34,291		 2025
Total
funds
£
2,994
107,107
1,306
668
112,075
128
116,639
1,170
117,937
(5,862)
58,778
52,916		 2024
Total
funds
£
1,424
76,267
741
990
79,422
52
86,106
780
86,938
(7,516)
66,294
58,778

The notes form part of these financial statements

Page 4

THE LMNG ARCHIVE PROJECT BALANCE SHEET 31 MARCH 2025 2025 2024 Notes FIXED ASSETS Tangible assets 12 334 17 CURRENT ASSETS Cash at bank 54,478 59,511 CREDITORS Amounts falling due withln one year 13 (1,896) (750) NET CURRENT ASSETS 52,582 58,761 TOTAL ASSETS LESS CURRENT LIABILITIES 52,916 58,778 NET ASSETS 52.916 58,778 FUND8 Unrestricted funds Re8trlcted fund8 15 18.625 34,291 14,972 43,806 TOTAL FUNDS 52,916 58,778 Th8 ch8rltable company Is entltled to exemptlon from audlt under Sectlon 477 of the Companles Act 200e for the ye8r endod 31 March 2025. The members have not required the compeny to obtain 8n audll of its financl81 statements for the year ended 31 March 2025 In accordance wlth Se¢tlon 476 of the Companles Act 2006. The trustees acknowledge thelr responslblllles for la) ensuring Ihal the charitable company keeps accountlng records that comply with Section8 386 and 387 of the Companies Act 2008 and {bl preparing financial statements thich give a true and fair view of ihe state of affairs of the charitable company as at the end of each flnanclal year and of fts surplus or deflclt for each flnancl81 year In accordance with the requirements of Sections 394 and 395 and whl¢h olherwlse comply with the requirements of the Companies Act 2006 relating io financial statements, so far as applicable to the charitable company. These financial statements have been prepared in accordance with the provisions applicable to charitable companles subject to the small companles reglme. The flnancial statements were approved by Ihe Board of Trustaes and authorised for issue on 4 Decemb8r 2025 and were signed on its behalf by: R F Kitchen - Trustee The notes fomi part of these financial statements Page 5

THE LIVING ARCHIVE PROJECT

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following rate to write off each asset over its estimated useful life.

Fixtures and fittings - straight line over three years.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Page 6

THE LIVING ARCHIVE PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

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2. DONATIONS AND LEGACIES
2025 2024
£ £
Donations 2,994 1,424
3. OTHER TRADING ACTIVITIES
2025 2024
£ £
Fundraising events 1,306 741
4. INCOME FROM CHARITABLE ACTIVITIES
2025 2024
Activity £ £
Grants Project delivery 107,107 76,267
The following amounts were received from Milton Keynes Council to fund the projects detailed below.
Heritage Open Days 19,000 18,000
Parks Trust Trail 5,000 -
Discover Milton Keynes 4,000 4,000
Zainabaya Mosque 3,000 -
Look Again 3,000 -
Bradwell Windmill 2,500 -
Organisation Grant - 8,660
Zerena Grant - 2,500
Small commissions - 3,048
36,500 36,208
5. RAISING FUNDS
Raising donations and legacies
2025 2024
£ £
Costs of fundraising 128 52
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Page 7

THE LIVING ARCHIVE PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

6. CHARITABLE ACTIVITIES COSTS

Project delivery
NET INCOME/(EXPENDITURE)
Net income/(expenditure) is stated after charging/(crediting):
2025
£
Depreciation - owned assets
183
Independent Examination
1,170		 Direct
Costs
£
116,639
2024
£
-
780

7. NET INCOME/(EXPENDITURE)

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024.

9. STAFF COSTS

Wages and salaries
Other pension costs
The average monthly number of employees during the year was as follows:
Charitable Activities
Raising Funds		 2025
£
71,110
1,870
72,980
2025
2
1
3		 2024
£
52,313
-
52,313
2024
1
1
2

No employees received emoluments in excess of £60,000.

Page 8

THE LIVING ARCHIVE PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

10.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
1,424
-
Charitable activities
Project delivery
-
76,267
Other trading activities
741
-
Other income
990
-
Total
3,155
76,267
EXPENDITURE ON
Raising funds
52
-
Charitable activities
Project delivery
22,990
63,116
Other
780
-
Total
23,822
63,116
NET INCOME/(EXPENDITURE)
(20,667)
13,151
RECONCILIATION OF FUNDS
Total funds brought forward
35,639
30,655
TOTAL FUNDS CARRIED FORWARD
14,972
43,806		 Total
funds
£
1,424
76,267
741
990
79,422
52
86,106
780
86,938
(7,516)
66,294
58,778

11. PRIOR YEAR ADJUSTMENT

Comparative figures have been re-stated to remove the transfer between funds line of £22,414 which should have been allocated to expenditure.

Expenditure on Charitable activities was amended to £23,770 ( previously £56,386 ) for unrestricted funds and £63,116 ( previously £30,050 ) for restricted funding.

The restricted funding balance was also re-stated by £10,653 to agree it to the Charity's records.

Page 9

THE LIVING ARCHIVE PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

12. TANGIBLE FIXED ASSETS

COST
At 1 April 2024
Additions
At 31 March 2025
DEPRECIATION
At 1 April 2024
Charge for year
At 31 March 2025
NET BOOK VALUE
At 31 March 2025
At 31 March 2024
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Social security and other taxes
Accrued expenses
14.
ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Restricted
fund
funds
£
£
Fixed assets
-
334
Current assets
19,765
34,713
Current liabilities
(1,140)
(756)
18,625
34,291		 2025
£
756
1,140
1,896
2025
Total
funds
£
334
54,478
(1,896)
52,916		 Fixtures
and
fittings
£
26,450
500
26,950
26,433
183
26,616
334
17
2024
£
-
750
750
2024
Total
funds
£
17
59,511
(750)
58,778

Page 10

THE LIVING ARCHIVE PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS

At 1/4/24
£
Unrestricted funds
General fund
14,972
Restricted funds
Organisation Grant
13,017
MK Museum
17,329
Songwriting Projects
2,880
Commissions
4,989
Pioneer Tales
305
Point Film
5,000
Songbook
286
Q:alliance
-
Bletchley Town Trail
-
Hip Hop Project
-
43,806
TOTAL FUNDS
58,778
Net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
4,968
Restricted funds
Organisation Grant
-
Heritage Open Days
19,000
MK Museum
21,050
Songwriting Projects
7,257
Commissions
5,795
Discover Milton Keynes
4,000
Pioneer Tales
-
Point Film
-
Songbook
9,237
Q:alliance
14,307
Bletchley Town Trail
5,748
Bradwell Windmill
2,700
Hip Hop Project
3,000
Look Again
3,000
Zainabaya Mosque
3,000
Parks Trust Trail
9,013
107,107
TOTAL FUNDS
112,075		 Net
movement
At
in funds
31/3/25
£
£
3,653
18,625
(8,968)
4,049
(16,995)
334
(1,312)
1,568
1,544
6,533
(305)
-
(5,000)
-
2,125
2,411
12,678
12,678
3,748
3,748
2,970
2,970
(9,515)
34,291
(5,862)
52,916
Resources
Movement
expended
in funds
£
£
(1,315)
3,653
(8,968)
(8,968)
(19,000)
-
(38,045)
(16,995)
(8,569)
(1,312)
(4,251)
1,544
(4,000)
-
(305)
(305)
(5,000)
(5,000)
(7,112)
2,125
(1,629)
12,678
(2,000)
3,748
(2,700)
-
(30)
2,970
(3,000)
-
(3,000)
-
(9,013)
-
(116,622)
(9,515)
(117,937)
(5,862)

Page 11

THE LIVING ARCHIVE PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Net
movement
At 1/4/23
in funds
£
£
Unrestricted funds
General fund
35,639
(20,667)
Restricted funds
Organisation Grant
17,369
(4,352)
Heritage Open Days
1,150
(1,150)
MK Museum
417
16,912
Songwriting Projects
2,450
430
Commissions
5,234
(245)
VE Day Project
82
(82)
Zerena
3,953
(3,953)
Pioneer Tales
-
305
Point Film
-
5,000
Songbook
-
286
30,655
13,151
TOTAL FUNDS
66,294
(7,516)		 At
31/3/24
£
14,972
13,017
-
17,329
2,880
4,989
-
-
305
5,000
286
43,806
58,778

Comparative net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Organisation Grant
Heritage Open Days
MK Museum
Songwriting Projects
Commissions
VE Day Project
Zerena
Discover Milton Keynes
Fuller Slade Project
Pioneer Tales
Point Film
Songbook		 Incoming
resources
£
3,155
8,660
18,000
18,800
3,000
3,048
-
2,501
4,229
1,100
9,955
5,000
1,974		 Resources
Movement
expended
in funds
£
£
(23,822)
(20,667)
(13,012)
(4,352)
(19,150)
(1,150)
(1,888)
16,912
(2,570)
430
(3,293)
(245)
(82)
(82)
(6,454)
(3,953)
(4,229)
-
(1,100)
-
(9,650)
305
-
5,000
(1,688)
286
76,267 (63,116)
13,151
TOTAL FUNDS 79,422 (86,938)
(7,516)

Page 12

THE LIVING ARCHIVE PROJECT

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

15. MOVEMENT IN FUNDS - continued

Restricted Funds

The main funds that were active during the years were :-

16. RELATED PARTY DISCLOSURES

The following amounts were paid during the year to a business of which Mr R Kitchen , a Trustee, is proprietor .

£ Editing The Point Documentary film 2,000 Creation of 30 Digital Stories 2,325 Video Camera 500 School training days 500 Oral History training 250 DVD duplication 100

No amounts were outstanding at the end of the reporting period.

During the year ended 31st March 2024, £1,120 was paid for filming and editing.

Page 13

THE LIVING ARCHIVE PROJECT

DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

INCOME AND ENDOWMENTS
Donations and legacies
Donations
Other trading activities
Fundraising events
Charitable activities
Grants
Other income
Bank deposit interest
Total incoming resources
EXPENDITURE
Raising donations and legacies
Costs of fundraising
Charitable activities
Wages
Pensions
Direct costs of projects
Staff and volunteer expenses
IT and software costs
Telephone and internet
Memberships
Sundries
Fixtures and fittings
Other
Independent Examination
Total resources expended
Net expenditure		 2025
£
2,994
1,306
107,107
668
112,075
128
71,110
1,870
40,869
717
905
509
206
270
183
116,639
1,170
117,937
(5,862)		 2024
£
1,424
741
76,267
990
79,422
52
52,313
-
30,049
925
1,572
460
315
472
-
86,106
780
86,938
(7,516)

This page does not form part of the statutory financial statements

Page 14