Zinc Arts
Trustees Report
for the year ended
31 March 2024
Registered Charity number: 1035444
Company number: 02866315

NTRODUCTION
The Ti'iistees (who are also Directors of th¢ ¢hai'ity for the piirposes of th¢ Coinpaiiies Act) liave
pleasuit Ill 511binitting their annlial report logetlier with tli¢ financial statements of Zii)c Arrs (the
compai)y) for tl)e year ended 31 Marcli 2024.
The financial stateimeiits comply with the Cliariti¢s Act 2011. the Companies Aci ?006, the
Memorandiiin lind Aiticles of Association, <liid AccoLinting aiid Reportiiig by Cliarities= Statement of
Recomineiid¢d Pi?ctice 4ipplicable to cliarities prepariiig tlieir accoLlllts in accordanee with the Financial
Repoitiiig Staiidard appli¢abl¢ in Il)¢ UK and Republi¢ of Irelai)d (FRS Io:).
Directors/ Trustees
The Tnistees, who are also Dtrectors of the coinpany who acted tl)i"ouglioiit the year, are Dr Daryn
Hufton-Rces ond Vietoi'ia Kaye, Jamie Macleod Wl1 s appoiiited in Noveii]ber ?0?3.
STRUCTURE, GOVERNANCE AND MANAGEMENT
CONSTITUTION
Zinc (Company number 02866315) Wds incorporated oi) ?7 October 1gJ3 aftd is a cliaritable
company li1111ted by tlic guaratktccs ot. tlie iiiembers to a maximiiin of £1 O each. The conipany is a
r¢gistered cliarity (numbLI 1035444). Tli¢ ¢ompaiiy gairted cliaritable %tdtiis on )2]￿ March 1994.
It changcd it5 iiamc froin Theatre ResoLirce to Zinc Art5 Wlth The Charity Cominission ii nd Companie5
Hoiisc on 22" Noveniber ?0 l ?
SPECKFIC INSTRUCTIONS
There re no specific inslructi017s rclating to tlie operatioii of the cliarity, nor are there any specific
investinent powers.
GOVERNANCE
In 2023-?0?4 tlie Charity compiised a meinbersliip of 3 individiials cominitted to sllpportino the
aspii'ations OF the oig2l)558tion. The ¢onstilutioii stipulatC5 that Meinbcrs al-e Mlltoinatically clcctcd to
a Board of Dircctor&ryrustee5 lo nin tlie 2ffai1s of the orgaiiisation. Wlien an iiidividiial resigns theii.
position on tlie Board of Directorsrrrustees their iiiembei'ship of the organisation ceases.
The Tn15tces are respoiisible for fonnulating the stiitegy and policie5 for Zinc and may meet at such
tiine5 and regiilate its meetings as it s¢es fil. In 2023 2024. tlie Ttustecs spoke regiilarly, to steel th¢
organi58tion tlii'ougli the toiigli financial cliinate and 5UPPOrt the CEO and the organizatioii.
RECRUITMENT, APPOINTMENT AN'D ELECTIOTs' OFTRUSTEES
Tlie Board ideiitifies and regiilarly reviews tlie skills of ¢xisiiiig Board Meinbers and any needs of the
Board M,Iiicli al'e not being met by the ciin.cnt Inembership.
RecrLiitinent is tliroiigh..
Targetiiig individuals known to Ziiic.
Adveitising foi. applicaiits tlii'ouglJ the media and other sol1￿C5. and
Utilising board'banks,. etc. maintained by support bodie5.
Recrititment is not liinited to within tl)e arts, ediication or 50¢ial ¢are field, biit reflects tlie varied needs
of the orgaiii5ation. Wliilst specific skills may b¢ sought Ifor example in relation io regular skkll

aiidits und¢rtak¢n bytlie Board) enthiisiasin and vision inay also be Considered equ1< Ily valuable.
The Board l)as established procedures for recniiting and appointing Board membeis,
inclLidiiig initial identification of potential candidates. infonnal visits or disciissions, forn￿1
ppliclltion and interviemi considcration by thc fiill board and, flnally, election by a Imajoi'ity
of votes.
Iii ?0?4-?5 Zinc will continue to look to ¢ippoint new members io the board lo in¢rease the
suppoit io the orgil11isation. This process srarted iii 20?2-?3 aiid caine to fruition with J£linie
Mcloed proving a valiiabl¢ addition. A skills aiidit will be iindeilaken to identify ar&is for
iinprovenient and tlien Zinc iyill look lo appoii)I Inembcis wlio Cali fill ili¢s¢ gaps.
POLICIES AND PROCEDURES FOR THE INDUCTION AN
TRAlh'lh'G OF TRUSTEES
Zinc is cominitted to a full indLlCtion ii nd ongoing training of TrLlStees. A coinprehensive
indu¢tioii pack and standing ordcr5 are in place and ai"e regiil<1rly iipdated to cnsui'e
compliance willi coinpany and chariry law.
RISK fvIANAGENqEh'T
The Trustees liave assessed the major risks to ivhi¢h tlie company is cxposed, in particular
tliose related to ihc opeiations and fiftaiices of the company aiid are satisfied that systems aijd
procedui'es are ii? place to miiig<lte oiir exposiire lo tlie major risks.
OBJECTIVES AND ACTIVITIES
COI4IPAhTY OBJECTIVES
The obj¢ctive of Ziiic. as stated in thc McJnor3t]dum and Articles of Association, is to
'advance educatioii foi- tlie public benefit tlirough thc proinolion of thc arts. particiilarly but
not eK¢lusivcSy for disablcd and disadvantaged pcople,.
Whilst tliis is Still relcvant, following on from a post pandemic review, we feel Zinc offer5
so Inuch more than this_ Therefore. we are actively looking to updatc our constitLItIOLI to
cncompas5 all the wondcrfLiI work we do.
We treat dis8bled people a5 a core part of the community. and feel it is inappmpriate to have
disability as 3 separate strand. as we offer services for the community as 8 whol¢ without
distinction.
b. ACHIEVEl￿E￿'T OF OBJECTIVES
Zinc works to promote the creativity, culture and heritage of di5ablcd pcople and so¢ially-
excliid¢d groups for the benefit of all. In our work. we Seek to-.
G¢nerate pathways within the arts.
Stimulate high-quality. diverse and experimerttal piDjecl work.
Provide lifelong learning, tt'aining and einploymenl opportunities-
Create plaifoi-ms for the exploration and representation of the culilires and
neglected hisiories of excluded groups;
Celebrate Diversity
Chainpion Wellb¢ing
Initiate infonned debate and influence policyinaking.
Foster enablii)g enviToninent5' and
Advan¢¢ incliisiven¢ss, accessibility aiid equality iii the wider arts environmenr.
nd in th¢ communities ii) which Mie live.
Provide accominodation for bot]i respite aiid short term tenancics.

e. OBJCCTIVES AND ACTIVITIES FOR THE PUBLIC BEf*EFET
In sliaping oiir objectives for tlie year and planning OLir activities, the trustees have coiisidei'ed
tli¢ Charity Cominissioii's giiidance 01) public beiiefil. incliiding tlie gLiidance oil public
benefit aiid fee cliargin<F
Wliilst Zinc iindertakes work ftinded by grants Ilnd coinniissioiis
froir fiiiiding 8geiicits, fees ale cliarged to individual beiieficiaries to lielp covei. ope¥aliiig
costs. Wlicre fees are charoed, in settiiig tlie level offees, c111< rges aiid concessions. tlie Iiiistee5
always coiisider aecessibility of activities for Iliose on low ificoines and living oli benefits.
The Cliarity's piiblic benefit dui'ins the year is deinoiistrated by the activities undertakeii iii ?02?_
2023
d. ACTIVITIES UNDERTAKEN IN 2023-2024
Zinc coiltiniied its ciirrent activities with core P1& rticipatory oroups, iiicluding Dldeaf people,
participants with 11)cn¢al health nccds. pliysical andlor seiisory iinpainn¢nls, Enultiple ¥Jnd
profoiind leaiiiing difficiilties ndloi. with experience of otlier fonns of social exclusion.
In previoLlS ycars Zinc siiffered difficiilt fiiiancial oiitcoines. and as a result in 2023-24
coiiIiiiLicd to fociis oil tliosc activities wliicli WOLild contribiite to tlie delivciy of its cliaritable
objectives whilst dt the saine tiinc generating fiinds to ensure the ongoiiig IEpair of the
financial position.
Activities deliveied iiiclude tlie follmving".
Tolpuddle House Progranime
?023ll4 saw the £ot]tiniied support to tlie seivice iisers of TolpLiddle Hoiise, the housing and
assotiated eiy)ploym¢i)t and training progE71ntne for VLiliicrablc adult5 living on site iii
accoininodation inaiiaged by L&Q. Niiie adiilts received supported living aiid associated
educatiOE], traiiiing and vollinteeriiig opportiinities.
Tenants gain skills and le2rii to live indepeiidently with the aim of bein¢F offered a flat of tlieir
owii. Tliey attend rhe Aspire Learning prograinme at Ziiic to gaiii skills they will need to
become more independent, siich as Employability.
Health Wtllb¢iDg and Focus Centr¢
Working iii partnersliip with Epping Forest Distt-ict Coiiiicil we offer accoinmodation to
pcoplc who would othenvise bc hoillclcss.
Thesc pcoplc are housed in OLir facilities oli liccnce and we offci. SLlPPOrt, trainzng and Lise of
our selvices until pennaiient accommodation becoine5 available and tliey Inove into their
new home.
Aspire Learnino
Fonnally named AQA and Tlie Biz but IEbi'anded In January 20?0. the coiirses delivered are
Artbox, Stepping Stones: Perfomi, Reflect and Elevate.
The courses are designed for adults 16+ as an alternative to college for people who ivould
struggle at a maiiistreain college
Pirticipants gain an accreditation at the eiid of tlie course.

Respite Weekend
Groiips of 6 - 9 Pic rticipaiits usiially with hi£li d¢pendency needs. Ivl)o coine to Zine lo liavc
fun and interact willi people of tlieii. owi) age. giving parents aiid regular ¢ar¢rs a break wlJilsl
tliey are oli respite.
In 20?3-?4 tliese have become Inonthly events and are hugely popiilar.
Ongor Youth Hub
Ziiic rLlI)S tlie local Yoiith 14ub iii Ongar wl)icli is iiin in pai1iicrsliip iviih Ihe Youth Service
and Essex Colinty Council. A i"ai)oe of activities ar¢ oli offci- iiirludiiig cooking. gaiMCS,
Inusic. dance and th¢ provision Of a safe SP<iee foi. children to hang out.
OTHER ACTIVITES AT Zth'c's ARTS CENTRE BASE
Ziiic LEses its facilities to m4ik¢ p055ible a wide array of actiyilics wliicli are of diiECt beiicfit to
the local coinilliinity..
Regular hiirrs of rooms delivei a rnnge of services. incliiding excrcise ¢lass¢s of
various types, baby. 5iiiging lind cookery classes, and counselling gi'oups.
The gym (not run by Ziii¢) is availabl¢ lo local coininunity groups and participailts of Zinc.
Academy Arts rnn a Theotre School, dcliver showca5C5 tlirouglioiit Ilie yeai. and run
a paiitoiiiiiiic at Ch175tsJ)as in Zinc.
V1c rious worksliop5, holÈday cliibs and other so¢ial a¢tivittes are delivered wkthin ihc
building.
f. SIGN'IFICANT CHANGES tN ACTlVtTIES
There were no si£nificant chaiiges to activities of the charity diiring tlie year.
FINANCIAL REVIEW
RESULT FOR THE YEAR
ZiTrc inciirs a substantial d¢preciatioii Chai'ge relatiiig to iinprovements made to the centre in
the Yea￿ leading up 10 201? This aiiioiinted to £155,792 in 2023-24 (155.972 in 2022-23.)
Th¢se arc Iioi cash cost5, and tlic tnistees consider it to be appropriate to exclude thein from
the review of the result for the ycer.
Excliiding tl)is d¢preciaiion charge, the resiilt for the year is a deficit of £48,733.

b. GOING COhTCERN
As explained in note Ilc) to the accounts, Zinc has the support of its principal loaii thndet5.
¢. RESERVES POLICY
The focus of the direetors is CUTrently on generating 2¢ pre-depreciation operatinu surplus. lo
repair the finances of the charity followincj the difFiclllt years prior 10 2017-2018.
Accordin>lrly, the organisalion does not have a fortll1£ I resetves policy iii place, as ttii absolul¢
level of reserves is not Lll￿t￿LlY the niain priorily. The e5tablishinent of a fonnal policy wtll
be revisitcd wlien it is appropri£11e 10 do so.
PLANS FOR THE FUTURE
Zinc's prioriti¢s for the nexi 12 inontlis are as folloivs..
Continueto incr¢a5¢¢XP05ure andawarenessboih in the local area and widercommunity.
This would increase fooifall. bookings and partioipaJkt5 on our ￿Urs¢5.
Continue tu (Jrow our A5PLre learning proui'llminc.
Thc last 12 moni115 have seen
iy]odcrntc gtoivih. but we ivould like to expand furtherand ieacli cven more participants
to Iielp (hem develop their ski115 2nd confidence_
If the fiist two points are achieved this would provsde an opportunity to incr¢a5e 5UPPOrt
l ad¥ninislrdtion staff levels.
Coiitinue our relatioiisliip wirh Issex Counly Council dnd ihe Youth Service making
sure Ongar l)as a variety ofactLVities foi. tlie local £hiSdrcn to access.
Support the local community by being a vibrant. welcomrng and forward-thinking
organisation with initiative% such #s being a wwm hub.
Rcduce the amounl owed io creditors and 5e¢ur¢ th¢ financial posilion.
Look to build a r¢serv¢ fund to fall back on in case of financial uncertainty.

TRUSTEES, RESPONSIBILII'IES STATEMENT
Tlie Trtislees Iivho gre also directors of Zinc Arts for the purposes of coinpllny law) are
i-esponsible for prcparii)g the Triisiees, Report aiid Ilie rtnancio1.stateiiia)Is li) 4iccord#iic¢ will)
applicabl¢ law and Uniled Kiiigdotn A¢countiiig Standai'ds {Uniied Ktiigdoin Geiierally
A¢eepted Accoiinting Pra¢iice}.
Company law requires ilie Trustee5 to prepai'e fiiiaiicial sLatcinenlS for ¢a¢li financial year.
Under coinpany law lh¢ TYi2stees inLisI not approve the finaiicial slateinenls Linless tl)ey
arc satisfied that tliey nive a true and fair view ol. Ihe of tlie charitable eoinpai)y aiid of the
incoimiiits resources and applici1(ion of r¢soiLrces: iiiclLidiiiTr ihe incon)e and ¢xpenditure. of
tl)e ch&rilable coinpany for that period. In preparin¢F Ihesc finaiicial st¥l¢m¢nts, tlie Truslees
are reqLiired 10..
sel2¢l suilable accountin￿ policies aT]d then apply Ihctn coi)sistently;
observ¢ thc metl)ods and principle5 Tii Lhe CharitlC5 SORP:
Inakc jydgTn¢ii15 ajid <lCCOUI)ljiiu e5tlLiiales thaL Jre rcasotlciblc ¢111d prudent;
Prepare thc fjnancial stateinents on tlie concerii basis uiiless it is
inappi"opriate to presuine th¥tt the cliaritable Lomparty will Continue in
operation.
Thc Trustees are responsible for kecpiiig adequate accoiinting recoi.d5 that arc siifficieiit to
sl)ow and explaiii the charit£2ble company's Iran5acti0115 and disclose with reatsoiiable
ccuracy at any tiine the fiiiaiJ¢ial p051tion of the cliai'itable coimpaiiy and ¢n&ble thcin to
ensiire th91 thc financial stateineiits ¢oLnply willi tlie Coinpaiiies Act 1006_ They are J150
r¢spoTtsible for Sdfeguardiiig tlie assets of Èhe cliai'itable coinpaiiy aiid hence for taking
reasoiiable stcps for the prevention and dete¢lioii of fi?iid and other inEgularities.
signed on their bchalf by
DK Hufton-Rees
Tru5tce
26, ￿'0￿￿eMber 2024

Zinc Arts
Flnancial Statements
for the year ended
31 March 2024
Reglstered Charlty number: 1035444
Company number.. 02866315

Zinc Arts
Financial statements for the year ended 31 March 2024
CONTENTS
Pages
Directorsnrustees
Independent examiner's report
Statement of financial activities
Balance sheet
Notes to the financial statements
6-15
Directors
Trustees
Dr Daryn Kenneth Hufton-Rees
Victoria Kaye
Jamie Macloed - Appoiftted 23 November 2023
Trustees of the Chority are also known as Directors of the Compony.
The accompanying Trustees, Report includes the information required
for the Directors, Report required by company law.
Page 2

Zinc Arts
Independent Examiner's Report - 31 March 2024
Report to the Trustees of Zinc Arts on the financial statements of the Charitable Company ("the
Company") for the year ended 31 March 2024 set out on pages 4 to 15.
Responsibllttles and basis of report
I report to the Charity's Trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
As the Trvstees of the Company land also the Dirertors ofthe Company forthe purposes of company lawl, you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061"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 Art 2011 {"the 2011 Art"). In carrying out my examination I have followed the
Directions given by the Charity Commission under section 14515) Ibl of the 2011 Act.
Independent examiner's statement
The company's gross income exceeded £250,000 and l am qualified to undertake the examination by bein8 a qualified
member of The Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no material matter5 have come to my attention In connection with the
examination giving me cause to believe that in. any material respect-.
l. accounting records were not kept in respect of the Company as required bysertion 386 of the 2006 Act,. or
2. the accounts do not accord with those records,. or
3. the accounts do not comply WFth the accounting requirements of section 396 of the 2006 Act other than anv
requirement that the account5 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 RepOrtinR Standafd applicable in the UK and Republic of Ireland IFRS 102)].
I have no concerns and have come across no other matters in connettion with the examinatlon to which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Slgned.. DA EATO
26 November 2024
David A Eaton FCA
Eaton & Co
Chartered Accountants and Consultants
The Cedars, School Lane, Great Barton. Bury St Edmunds, Suffolk IP312RQ
Page 3

Zinc Arts
Statement of Financial Activities lincluding Income and expenditure account)
For the year ended 31 March 2024
2024
2023
Unrestrirted
funds
Re5trlcted
Funds
Total
Funds
Unrestrlrted
funds
Restrirted
funds
Total
Funds
Note
Income:
Donations. legacies and grants
Income from charitable actlvitles
other incomlng resources
17,826
306,797
47.340
17,826
306,797
47,340
34,357
268,946
40,758
34,357
268,946
40.758
Total income
371.963
371.963
344,061
344,061
Expenditure on:
Charitable activitie5
420,696
420,696
358,280
358,280
Total expendlture
420.696
420.696
358,280
358,280
Net Income {expendlturel before
depre¢lation and revaluatlons
{48,7331
148,7331
114,2191
114,2191
Depreciation
1155,9721
1155,9721
{155,9721
1155,9721
Gain5 and losses on revaluations of
investment a55ets
Net (expenditure) and net movement in
funds for the year
1204.7051
{204,705
1170,191)
1170.1911
Re¢on¢lllatlon of funds:
Total funds brought forward
1773,3261
1773.3261
{603.1351
1603,1351
Total funds carried forward
1978,0311
1978,0311
1773.3261
{773,3261
All of the above results are derived from continuing activitie5. There were no other recognised gain5 or losses during the year.
Page 4

Zinc Arts
Balance Sheet
For the year ended 31 March 2024
2024
2023
Note
Fixed assets:
Tangible assets
2,366,428
2,522,400
2,366,428
2,522,400
Current a55ets:
Debtors
nvestments
Cash at bank and in hand
io
li
31,134
1,157
10,157
18,889
1,157
9.207
42,448
29,253
Liabilities:
Creditors.. amounts falling due within one yeaf
12
301,536
239,609
Net current Ilabilities
1259,088)
1210,3551
Total assets less current liabilities
2,107,340
2,312,045
Creditors.. amounts falling after more than one year
13
13.085,3711
{3.085,3711
Totsl net assets
1978.031
1773,3261
, The funds of the Charity:
Unrestricted funds
1978,0311
1773,3261
Total Charity fvnds
1978,031
773,326
The Directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit
under section 477 of the Companies Act 2006.
The Members have not required the company to obtain an audit in accordance with section 476 of the Att.
The Directors acknowledge their responsibilitie5 for complying with the requirements of the Companies Act
2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provision5 applicable to
companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on 26 November 2024.
Signed: DK HUFYON-K
26 November 2024
Dr Daryn K Hufton-Rees
Chair of Trustees
Zinc Arts
Company Registered No: 02866315
Page 5

Zinc Arts
Notes to the Financial Statements
For the year ended 31 March 2024
l Accounting Policies
Zinc Arts is a charitsble company I'charity'l limlted by guarantee and is incorporated in England and Wales. The registered office
address and principal place of busit)ess is Great Stonyi High Street, Chipping Ongar, Essex, CM5 OAD.
The principal accounting pollcles adopted• judgements and key sources of estlmatlon uncertainty in the preparation of the financi31
statements are as follows:
al Basls of prÈparation
The financial statements hove been prepared In accordance with Accountlng and Reporting by Charlties- Statement of Recommended
Prartice ISORPI applitable to charitie5 preparing thelr accounts in accordance with the Financial Reporting Standard applicable in the
UK and Republic of Ireland IFRS 1021 leffective l January 20151- (Charities SORP FRS 1021, the Financial Reporting Standard
applicable In the UK and Republic of Irelènd IFRS 1021 and the Companies Act 2006.
Assets and liabiltties are initialty recognised at historical cost or transartion value unles5 Otherwise stated in the relevant accounting
policy or note.
In applying the financial reporting framework. the Trustees have made a number of subjective judgements, for example in respect of
significant accounting estimates. Estimates and judgements are continually evaluated and are based on historicol experience and
other fartors. incl¥Jdlng expectations of future events that are believed to be reasonable under the circumstances. The nature of the
estimation means the actual outcomes could differ from those estimates. Any signrficant estimates and judgements affertlng these
financial ststtments are detailed within the relevant accounting policy below.
The functional currency is the British Pound.
b) Publlc benefit entkty
The Charity meet5 the definition of a public benefit entity under FRS 102.
cl Golng concern
The financial statement5 have been prepared on the going concern basis. although the Charity has net current liabilities, excluding
loans. of £97.87612023- £63.9261 and long-term loans of £3,085,37112021- £3,085,3711.
The going Concern basis assumes that the Charity wlll continue in operational existence for the foresèeable future and reflects the
Trustees, belief that the Charity will continue to generate sufficient cash flow5 to meet its liabilkties as they fall due.
The financial viability of the Charity remains dependent on maintaining the current level of income, and on the forbearance of the
lenders referred to in note 13 to the account5. Whilst there are no formal agreements to this effect, the Trustees have a reasonable
expectation that this forbearance will continue for a period of at least twelve month5 from the date of signing these accounts.
If for any reason the current level of income or financlng wa5 not available, the Charity would need to seek alternative 50urce5 Qf
Income to ensure it5 continuation as a golng concern.
The financial statements do not include the adjustments which would result if the Charity was unable to contlnue as a going concerft.
d) Income
Income 15 recognlsed when the Charlty has entitlement to the fund5. any performance conditlons attached to the income have been
met, it is probable that the income will be received and that the amount can be measured rellably.
Donations, grant5 ond fund5 received for Specific project5 and subject to speclfic w15hes of the donors are credited to the relevant
restrlcted fund. When donors specify that donation5 and grant5 gtven to the Charity must be used In future accounting periods. the
Income Is deferred until those period5.
Bullding Income is Included In the period to whlch it relates and includes the renting of accommodation provided. hlring of facilitles
and other services available within the building to the public and project.
Page 6

Zinc Arts
Notes to the Financial Statements
For the year ended 31 March 2024
e) Donations of glfts. services and facllitie5
Donated professional setvices and donated facilities are recognised as income when the Charity has received the
service. any conditions associated with the donation have been met. the receipt of economic benefit from the use
by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the
Charities SORP IFRS 1021, volunteer time 15 not recognised,
On receipt, donated gifts, professional services and donated facilities are recognised on the basls of the value of the
glft to the Charity which is the amount the Charity would have been willing to pay to obtain services or facilities of
equivalent economic benefit on the open market,. a correspondin8 amount is then recognised in expendlture in the
period of receipt.
fj Fund accountlng
Unrestricted funds are donations and other incoming resources received for charitable purposes.
Restricted funds are funds which are to be used in accordance with Specific restrictions imposed by donors. The
aim and use of each restricted fund 15 set out in the notes to the financial statements.
g) Expendlture and irrecoverable VAT
Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is
probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure
is classified under the followinR activity headinRs-
Charitable activity costs are those incurred directly in support of the objects of the charity.
In the view of the Trustees the charity has only one attivity, as outlined in the Trustees, report.
h) Allocatlon of support costs
Resources expended are allocated to the particular activity where the c05t relates directly to that activity. for
Governance costs, one of the support costs, are the costs associated with the Eovernance arrangements of the
Charity. These costs relate to constitutlonal and statutory requirements and include any costs associated with the
Strategic management of the Charity'5 activities as well as professional fees.
il Operating leases
Rental charges are charged on a straight line basis over the term of the lease.
J} Reallsed gains and losse5
All gains and losse5 are taken to the Statement of Financial Activities as they arise. Realised gains and losses on
investments are calculated as the difference between sales proceeds and their opening carrying value or their
purchase value if acquired subsequent to the first day of the financial year. Unrealised gains and losses are
calculated as the difference between the fair value at the year end and their carrying value. Realised and unrealised
investment iain5 and losses are combined in the SOFA.
kl Tangible fixed a￿et$
Asset5 over E500 are capitalised at cost. Assets are reviewed for impairment if circumstance5 indicate their carrying
value may exceed their net realisable value and value in use.
Depreciation is provided at rate5 calcylated to write down the cost of each a55et to its estimated residual value over
its expected useful life.
Leasehold improvements
27,5 years (amended from 135 year5 at 31 March 20191
Fixtures, Fitting5, Equipment
10% Straight line
The depreciation charge is shown separately on the SOFA in view of its magnitude and the fart that it is a non-cash
C05t resulting from historical expenditure. This presentation has been adopted to give a fair representation of the
charitV'5 current financial performance.
11 Investments
Investments are stated at market value at the balance sheet date. The Statement of Financial Activities includes the
net gains and losses arising on revaluations throughout the year.
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Zinc Arts
Notes to the Financial Statements
For the year ended 31 March 2024
m) Debtors
Trade and other debtors are recogni5ed at the settlement amount due after anytrade discount offered. Prepayments are valued at
the amount prepaid net of any trade discounts due.
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less
from the date of acquisition or opening of the deposit or similar account. They are held to meet short term cash commitments as
they fall due.
n) Creditors and provlsions
Creditors and provision5 are recognised where the charity has a present obligation resulting from a past event that will probably
result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.
Creditors and provisions are normally recogni5ed at thelr settlement amount after allowing for any trade discounts due.
ol Leaslng and Hire Purchase
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by finance
lease are depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of
the benefits and risks of ownership are assumed by the Charity. Obligations under such agreements are included in creditors net of
the finance charge ollocated to future periods. The finance element of the rental payment is charged to the Statement of Financial
Activities in the appropriate year.
Rentals under operatin£ lease5 are charged to the Statement of Financial Activities in the period to which they relate.
p) Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial
instruments are initially recognised at transattion value and subsequently measured at their settlement value with the exception of
bank loan5 which are subsequently measured at amortised cost using the effective interest method.
q} Crltlcal accounting e5tlmates and judgements
In the application of the Charity's accounting policies, the Trustees are required to make judgements. estimates and assumptions
about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated
assumptions are based on historical experience and other factor5 that are considered to be relevant. Actual results may differ from
these estimates.
The estimates and underlying assumption5 are reviewed on an ongoing basis. Revision5 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.
In the year ended 31 March 2019 the Trustees reviewed the depreciation policy relating to the leasehold improvements and
concluded that a life of 27.5 year5 wa5 more appropriate than the 135 years being employed. Appropriate adjustments were made
in the 2018119 accounts and subsequent depreciation charges reflect the revised estimate.
The Trustees do not consider that there are any Sources of estimation uncertainty at the reporting date that have a Significant risk
of causlng a material adjustment to the carrying amounts of a5set5 and liabilities within the next reporting period.
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Zinc Arts
Notes to the Financial Statements
For the year ended 31 March 2024
2 Donation5. legacles and grants
2024
Totsl
Funds
2023
Total
Funds
Unrestricted
funds
Restricted
funds
Unrestricted
funds
Restrlcted
funds
Donations
Grants
796
17,030
796
17,030
7,142
27,215
7,142
27.215
17,826
17,826
34.357
34,357
3 In¢orne from charitable artivities
2024
Total
Funds
2023
Total
Funds
Unrestricted
funds
Restrlcted
funds
Unrestrlrted
fvnds
Restrlcted
funds
Contract5 and Fees
306.797
306,797
268.946
268,946
306,797
306.797
268.946
268,946
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Zinc Arts
Notes to the Financial Statement5
For the year ended 31 March 2024
4. Analysis of expendlture on charitable activities
2024
Total
Fund5
2023
Total
Funds
Unre5trlcted
funds
Restricted
funds
Unrestricted
funds
Restricted
funds
Staffing
Other dirett costs
195,388
9,600
204,988
215.708
195,388
9,600
204,988
215,708
167,220
6,986
174,206
184.074
167,220
6,986
174,206
184,074
Support costs (note S)
420,696
420,696
358,280
358,280
During the year the Charity had one class of activity, to promote the creativity, culture and heritage of disabled people and socially-
excluded groups for the benefit of all.
S. Analysis of support ¢ostS
2Q24
Total
Funds
2023
Total
Fund5
Unrestricted
funds
Restrlcted
funds
Unrestricted
fund5
Restricted
funds
Governance (see below for analysis)
Interest
Other
4,393
30,678
180,637
4,393
30,678
180,637
4.726
28.710
150,638
4.726
28.710
150,638
Total
215,708
215,708
184.074
184.074
Governance costs are made up of:
Independent examination fee5
Other legal and professional fees
4,000
393
3,500
1,226
3,500
1,226
393
4,393
4.393
4.726
4,726
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Zinc Arts
Notes to the Financial Statements
For the year ended 31 March 2024
Net income for the period
2024
2023
This is stated after charging:
Depreciation annual charge
Independent Examination fee
155,792
4,000
155,972
3,500
Analysis of stsff costs. trustee remuneration and expenses, and the cost ot key management personnel
Staff costs We￿ as follows..
Wages and salaries
Social security costs
Pension costs
183.087
8,778
3,523
156.494
7,841
2,885
195,388
167,220
The average number of employees duringthe year was 9 {2023- 8}
No employee received remuneration amounting to more than £60,000 in eitheryear.
The cost of senior management personnel was £Nil12023 - £Nil)
The Charity's Trustees were not paid and did not receive any benefits from employment with the Charity in the
year12023- £Nill. During the year the Trustee5 received reimbursement of expenses of £21,64912023 - £21,600).
No Charity Trustee received payment for professional or other services supplied to the Charity {2023 - £Nill.
Taxatlon
The Charity is exempt from Corporation Tax as all its income is charitable and is applied for charitable purposes.
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Zlnc Arts
Notes to the Financial Statements
For the year ended 31 March 2024
Tangible Fixed Assets
Leasehold
impTOVe-
ment5
Flxtures.
Ftttings and
Equipment
Total
Cost
At the start ofthe year
Addition5 during the year
4,289,237
658,989
4,948.226
At the end of the year
4,289,237
658.989
4.948,226
Depreciation
At the start of the year
Charge for the year
1.766.837
155,972
658.989
2.425.826
155.972
At the end of the year
1,922,809
658,989
2,581,798
Net book value
At the end of the year
2,366,428
2,366,428
At the beginning of the year
2,522,400
2,522,400
10 Debtors
2024
2023
Trade debtor5
Other debtors
Prepayments and accrued income
31,134
18,889
31.134
18,889
11. Current asset Investments
Col F Fixed interest fund
1.157
1,157
During the year there was no change in the fund value12023 - £Nill.
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Zlnc Arts
Notes to the Financial Statements
For the year ended 31 March 2024
IZ Creditors: amounts falling due within one year
2024
2023
Bank overdrafts
Trade creditors
Accrua15 and deferred income
Other taxation and soclal security
Other creditors
Other loan (see note 13)
6,319
55,462
35,384
35,980
7,179
161.212
6,319
39.876
20,985
18,369
7,451
146,609
301.536
239,609
13 CredStors: amounts falling due after more than one year
2024
2023
Futurebuilders Loan I
Futurebuilders Loan 2
Bridging Loan S.l.B
Other loan
1,714,866
1.313,005
57,500
1,714.866
1,313.005
57,500
3,085,371
3,085.371
The Futurebuilders and S.l.B. loans are Secured by way of a fixed charge over the Charity's long leasehold property.
The loan agreement provides for the loans to be repaid over a period of 25 years at an interest rate of 6%.
However, interest and repayment holidays have been formally granted until 31st May 2022 and the Trustees
assume the repayment holiday is ongoing.
The amount shown under'other loans" represent5 a loan from an employee. The loan carries an interest rate of
19.9% and was repayable by in5talments between 11 July 2019 and 30 May 2021. With the agreement ofthe
lender. the repayment period ha5 been significantly extended. The lender has indicated flexibility as to the
repayment schedule in order to support the Charity's cashflow, and will cap the amount of interest chargeable on
the loan.
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Zlnc Arts
Notes to the Financial Statements
For the year ended 31 March 2024
14 Movements In funds
At the start
of the year
Incomln8
resources
Outgolng
resource5
At the end
of the year
Current Year
General Funds
Designated fund
1774,4821
1,156
371,963
{576,6681
1979,1871
1,156
Total - unrestricted funds
1773,326
371.963
576.668)
1978,0311
Prior Perlod
General Funds
Designated fund
1604,2911
1,156
344,061
{514,2521
1774,482)
1,156
Total - unrestricted funds
603.1351
344,061
1514,252
1773,3261
The desi8nated fund comprises amount5 set aside for capital repairs and renewals and is held in the COIF
Investment fund see note 11.
15 Reconclllatlon of net income to net cash flow from operatlng activities
2024
2023
Net income forthe reporting period
Depreciation charges
Decrease {Increasel in debtors
Increase (Decrease) in creditors
1204.705}
155,972
{5.2441
54.928
(170,1911
155,972
2,456
19.718
Net cash provided by operating activities
951
7,955
16 Analysls of cash and cash equlvalents
Cash at bank and in hand
Bank overdraft5
10.157
16,3191
9.207
16,319)
Total cash and cash equivalents
3,838
2,888
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Zinc Arts
Notes to the Financial Statements
For the year ended 31 March 2024
17 Capftal commitments
At the balance sheet date, there were no capital commitments12023'. £Nil}.
Contin8ent asset5 or Ilablllties
At the balance sheet date. the there were no contingent asset5 or liabilltles {2023: £Nill.
19 Related party transactions
Trustees received relmbursement of expenditure in respect of the Charity's activities during the current year- see
note 7.
20 Legal status of the charity
The Charity is a company limited by guarantee and has no share capital. The company is incorporated in England
and Wales- registration number 02866315. The liability of each member in the event of winding up is limited to
£10.
The registered office of the Charity is Great Stony. High Street, Chipping Ongar. Essex CM5 OAD.
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Zinc Arts
Independent Examiner's Report - 31 March 2024
Report to the Trustees of Zinc Arts on the financial statements of the Charitable Company ("the
Company") for the year ended 31 March 2024 set out on pages 4 to 15.
Responsibllttles and basis of report
I report to the Charity's Trustees on my examination of the accounts of the Company for the year ended 31 March 2024.
As the Trvstees of the Company land also the Dirertors ofthe Company forthe purposes of company lawl, you are
responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061"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 Art 2011 {"the 2011 Art"). In carrying out my examination I have followed the
Directions given by the Charity Commission under section 14515) Ibl of the 2011 Act.
Independent examiner's statement
The company's gross income exceeded £250,000 and l am qualified to undertake the examination by bein8 a qualified
member of The Institute of Chartered Accountants in England and Wales.
I have completed my examination. I confirm that no material matter5 have come to my attention In connection with the
examination giving me cause to believe that in. any material respect-.
l. accounting records were not kept in respect of the Company as required bysertion 386 of the 2006 Act,. or
2. the accounts do not accord with those records,. or
3. the accounts do not comply WFth the accounting requirements of section 396 of the 2006 Act other than anv
requirement that the account5 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 RepOrtinR Standafd applicable in the UK and Republic of Ireland IFRS 102)].
I have no concerns and have come across no other matters in connettion with the examinatlon to which attention
should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Slgned.. DA EATO
26 November 2024
David A Eaton FCA
Eaton & Co
Chartered Accountants and Consultants
The Cedars, School Lane, Great Barton. Bury St Edmunds, Suffolk IP312RQ
Page 3