COMPANY REGISTRATION NUMBER: 02960157 CHARITY REGISTRATION NUMBER: 1040321 Creative Arts East Company Limited by Guarantee Unaudited financial statements 31 March 2025
Creative Arts East Company Limited by Guarantee Financial statements Year ended 31 March 2025 Page Trustees, annual report lincorporaling the directors, report) Independent examiner's report lo Ihe trustees 10 Slalemenl of linan¢ial activities (including income and expenditure accounll 11 Statement of financial position 12 Slalement of cash flows 13 Notes lo the financial slalemenls 14
Creative Arts East Company Limited by Guarantee Trustees. annual report (incorporating the directors, report) Year ended 31 March 2025 The trustees, who are also the directors lor the pUoSe$ of company law, present Iheir ieport and the unaudited financial slalemenls of the charity for the year ended 31 March 2025. The financial slalemenls have been prepared in accordance with the accounting policies set out in notes lo the accounts and comply with the charity's goveming document, the Charities Act 2011 and Companies Act 2006 and Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in Oclober 2019. Chair's report Once again, l am proud to report that Creative Arts East has exceeded ils self-imposed targets lor Ihls financial year, supporiing a record number of rural and community events across the East of England and enabling our highest number of audience engagernenls in the last 5 years, illuslraling that recovery of audience participation is back lo pre-covid levels. We have achieved this despite the continuing operational and financial challenges lacing our sector., exercising shrewd distribution of limited resources towards meeting our mission improving quality of life through crealivily Our 10 Year Vision and Slralegy seeks lo reach more ol the mosl vulnerable and under- engaged residents across our operational regions. We remain grateful for the &ssenlial backing ol our principal funders Arts Council England and the British Film Inslilule via the Film Hub Southeast, as well as local authority grants Irom Norfolk County Council, Breckland District Council, and the Borough Council of King's Lynn and West Norfolk, wilhoul whom our work would not be possible. The leam and I would also like lo extend thanks lo our dynamic and determined partners, including Applause Rural Touring, Norfolk Library & Information Service, Cambridgeshire Music, Norfolk & Sullolk Music Hub, and the Nalional Centre for Writing. They share our commitment lo collaboration, arnbilion and equality and to increasing access to culture lor those who experience barriers lo participating. We look forward to continuing lo drive change alongside them and others in Ihe years lo come. Max Edwards Chair
Creative Arts East Company Limited by Guarantee Trustees, annual report (incorporating the directors, report) fconllnued) Year ended 31 March 2025 Reference and administralive detalls Registered charity nam8 Creative Arts Easl Charlty registration number 1040321 Company reglstration number 02960157 Prlncipal offlce and registered Dragon Hall otllce 115-123 King Street NoNich Nortolk NR1 1QE The trustees The trustees who served during the year and al the dale of approval were as follows.. Max Edwards Ichairl Thomas Dunslon Pat Hollom James McDermoll Lynne Simpkin Elizabeth Somervi518 Prlnclpal Offlcer Natalie Jode (Executive Olreclorl Observers Sherry Neyhus - Arts Council England Sarah Dennis - Borough Council of King's Lynn and West Nortolk Company secretary Julie H8wiIt Independent examiner Mark Proctor FCA DChA Lovewell Blake LLP Chartered a¢countanls Bankside 300 Peachman Way Broadland Business Park Norwich NR7 OL8 Bankers Barclays Level 15 1 Churchill Place London E14 5HP
Creative Arts East Company Limited by Guarantee Trustees, annual report (incorporating the directors, report) (continu8d) Year ended 31 March 2025 Virgin Money Jubilee House Gosforth Newcastle Upon Tyne NE3 4PL Flagstone Group Ltd 1 sl Floor. Clareville House 26-27 Oxendon Street London SW1Y4EL The Co-operative Bank plc 1 Balloon Street Manchester M4 48E
Creative Arts East Company Limited by Guarantee Trustees. annual report (incorporating the directors, report) [nIlnued) Year ended 31 March 2025 Objectives and actlvities The charity is established lor the purposes ol promoting, maintaining, improving, and advancing education within Ihe community al large and particularly in rural areas by the promotion, production, performance, and encouragement ol the arts, that is lo say.. the performing, visual, media, plastic, digital, andlor written arts. This is achieved by: co-operating or formally partnering with any government aulhorities, international bodies, councils, village halls, schools, churches, arts centres, Ihealres, clubs, soci&lies, charitable trusts and similar bodies and individuals., supporting exhibitions, meetings, lectures, classes, seminars, courses, performances, workshops, excursions, enlertainmenls and broadcasts,. producing periodicals, magazines, books, leaflels, films, recordings or other 18chnology-based media. The objects sel out the breadlh ol activity that Creative Arts Easl may undertake and the collaborative approach that lies at its heart. They also define Ihe peripatetic nature of the activities, and the centrality of learning about, and through, the arts lo enrich and improve the qualily ol life ol the whole cornmunity. Summary ol the main activitles In relation to these oblects We deliver activities that benefit the public Ihrough two major strands of work. These are: 1. The rolling delivery ol "community louring". We organise two highly successful schemes which evolve cultural decision-making lo comrnunily groups and residents and help lo bring professional performing artists and an eclectic programme ol films into rural communities where access to this is otherwise limited. 2. The delivery of a portfolio of health- and skills-development projects using the arts as a tool lor engagement and improved quality ol life for Ihose most in need. To achleve Ihis, we woik in partnership with private, public and voluntary sector stakeholders. Strategic report The following sections for achievements and performance and financial revi&w form the strategic report of the charily.
Creative Arts East Company Limited by Guarantee Trustees. annual report (incorporating the directors, report) (contlnued) Year ended 31 March 2025 Achievemenls and performance In 2024, the charity sel-oul a new 10-Year Vision and Slralegy, reslaling its commitment lo a central mission: "Improving quality of life through creativlty" Aiming lo- l.make creativily accessible and available lo more people in more places 2.Slrenglhen health and educalion outcomes through creativity Resulting in.. Greater equity of access lo creativity Reduced health inequalities Improved skills, knowledge and aspirations Our key objectives for this lerm and the coming years are to: Work in partnership with diverse communities and artists to co-design excellent and inclusive programmes that invite people lo gel involved. Develop creative practice and participation models which improve health and education outcomes in rural and under-served communities. Champion developmenls in public policy and allilude towards the social role of crealivily, working closely with sector partners and strategic stakeholders. Summary ol the main achl8vements ol the charlty during the year 1. The delivery of core communlly lourlng work. Community touring remains a core priority lor Creative Arts East (CAE}. The Creative Arts East Livel and Creative Arts East Screen schemes provide community groups in rural locations access lo curated programmes of professional live performance and film, financial subsidy towards the cost ol lees and licenses, reduced hire rates lor projeclion equipment, marketing collateral, and volunleer training provision. Throughout 2024125, Creative Arts Easl Livel and Creative Arts East Screen supporled over 68 grassroots voluntary groups and community venues with event programming support, training and advice, which enabled over 32,000 audience engagements through delivery of 400+ events. In 2024 the charity successfully renewed ils Investors In People IIIPI accredilalion lor the 201h consecutive year, outperforming the benchmark scores lor our sector. Creative Arts Easl also undertook a comprehensive and wide-ranging 360 review with its stakeholders, including stall, board, promoters, suppliers, artists and audience and was gratified with results thal Showed high levels ol achievement and satisfaction.
Creative Arts East Company Limited by Guarantee Trustees. annual report (incorporating the directors, report) (continued) Year ended 31 March 2025 Achievements and performance (contlnued) 2. The dellvery of a portfolio ol learning projects using the arts as a tool tor engagement. Alongside community touring activities, CAE develops and manages a portfolio of participatory and outreach projects. These remain a key driver in the financial viability of the charity, and in meeting the slated mission. Projects provide essenlial learning opportunities, health and wellb&ing inleNentions and professional support for commLJnities and individuals across Norfolk and the wider East Anglia. Project activily during 2024125 included: Rekindle Libraries, a nationally significant arts develcipmenl initiative, placing libraries at the heart of creative and cultural experiences lor rural and underserved communities across Norfolk, Medway, Buckinghamshire, Blackburn and Sandwell. Funded by Arts Council England12023-20261. 'MovelShake', a programme of musicians in residence, participatory workshops and leadership opportunities for children and young people in King's Lynn, Poringland, Thettord, Lowesloft, Wlsbech and Histon. Funded by Youth Music12022-202SI. PEACH Wesl Norfolk, strategic partnership management for cultural education across West Norfolk, raising the quality ol cultural provision lor children and young people across Ihe borough. Funded by Borough Council of West Norfolk and Arts Council England via the Norfolk and Nowich Festival 12017-20251. 'Crealive Socials,, a rolling programme ol monthly older people's arts participation, with specific emphasis on inclusion for those living with dementia and Iheir carers. In 2024125 sessions were delivered in 6 rural communities wilhin Breckland, Wesl Norfolk and Great Yarmouth, enabling over 700 beneficiary inleraclions lo improve wellbeing, confidence and social connectedness. Funded by contributions Irom Arts Council England, Wesl Norfolk Lives via Norfolk Community Foundation and the Borough Council of King's Lynn and Wesl Norfolk Health and Wellbeing Partnership. Publlc benefil In planning activities for the year under Teview Ihe Trustees kept in mind the Charity Comrnission's guidance on Public Benelil at meetings, when exercising powers or performing duties in their roles. The activities outlined above provide examples ol how the charity has sought lo deliver ils charitable purposes for the benefit of Ihe general public. The Trustees believe passionately that the work as outlined benefits a significant section ol the general public in Norfolk, Suffolk, Cambridgeshire, and nationally. We locus on engaging those communities or ils members who lace geographical, physical or other barriers lo participating in the cultural life of Ihe area and do Ihis by providing a range ol activities that lake place on an outreach basis in a wide variety of localions. Wherever possible we seek opportunities lo present work which extends experience, and surprises, excites, challenges and develops new audiences. Care is taken lo use public subsidy wisely, exercising careful control over quality, artistic inlegrily, breadth, variely and cultural diversity. Many participatory activities are provided free ol charge al Ihe point of use by the public. When charges for participation or access to services are necessary, these are kepl as low as possible and concessions provided lo ensure wide acce5s1bilily. In doing so the truslees have had due regard lo the Charity Commission's general guidance on public benefit and to its supplementary guidance on fee Charging.
Creative Arts East Company Limited by Guarantee Trustees, annual report (incorporating the directors, report) (conlinuedj Year ended 31 March 2025 Financial revlew The annual income ol Creative Arts Easl was £771,126 12024: £644,698) and expenditure was £769,794 12024.. £643,288), resulting in a surplus of £1 ,33212024'. surplus of £1,410). Reserves Policy The Iruslees, having regard lo the liquidity requirements of operating the charity and to Ihe reserves policy, have operated a policy ol keeping available funds in an interesl-bearing account and seek to achieve a reasonable rale on deposit. Reserves are needed lo bridge the gap between the spending and receiving of resources and to cover unplanned emergencies and other expenditure. The Trustees consider that the minimum level ol reseNes as al 31 March 2025 would be £52,500. The actual reserves were £78,739 providing the charity with £26,239 of working capital. This working capital will be used lo invest in the charity's future by supporting activities that secure ils medium lo long term, andlor to support, in the short term, any lunding shortfall. Of the actual reserves, Ihe charity's free reserves (being nel current assets in the unrestricted fund, including désignated funds) amounted lo £75,00712024'. £66,299>. Creative Arts East is grateful to ils primary investor, Arts Council England, and those organisations that have supported mulli-year project activity, granted annual applications, andlor developed partnership agreements with us, including British Film Inslilule via Film Hub Soulheasl, Youth Music, Wesl Norfolk Lives via Norfolk Community Foundation, Borough Council ol King's Lynn and Wesl Nortolk, Norfolk County Council, and Breckland Council. Plans for future periods The financial shock ol the 2020 pandemic and ongoing cost of living crisis continues to impa¢l our business model however the Board and Senior Management have taken the necessary steps lo address this. W8 have sel out a new 10-Year Business Plan with mulli-year budgets, exercised light spending controls on op&ralional costs whilst ensuring quality and impacllul provision, undertaken regular relorecasling, and are actively fundraising. This includes working with Arts Council England lo negoliale extension ol our current funding agreement as a National Portfolio Organisalion lo 2028 and develop a new multi-year investment term with British Film Inslilule for 2026-2029, This crucial investment will enable us to continue lo deliver and develop the impacl ol community touring across Norfolk, Suffolk, and Cambridgeshire. Alongside securing this core investment, we are developing new funding applications for 2026-2030 10 support the evolution and extension of our cullural education and crealive health activities with key partners across the region and nalion. By taking this approach, CAE has maintained ils financial F)osilion in the current year and lorecasls a breakeven budget lor 2025126. This foundation and our track record stands us in a slrong position lo maintain a sound financial posilion in the longer-term.
Creative Arts East Company Limited by Guarantee Trustees, annual report (incorporating the directors. report) (continued) Year ended 31 March 2025 Structure, governance and management Governing document The organisalion is a charitable company limited by guarantee, incorporated on 20 July 1994 and registered as a charity on 23 August 1994. The company was established under a Memorandum ol Association which established the objects and powers of the charitable company and is governed under its Articles of Association. Trustee selectlon methods Trustees are elected from and by the full members al the Annual General Meeting. One third of the Iruslees must retire from office. The members to retire shall be those longest in ollice since their last election. These members are eligible for re-election. Two members are appointed Tepresenling seNice users or partners, the remaining members are appoinled by the company in general meeting as il thinks fil. Trustee Inductlon and tralnlng New Trustees undergo an orienlalion day lo brief them on their legal obligations under charity and company law, the Charity Commission guidande on public benefit, conlenl of the Memorandum and Articles of Association, the Board, the sub-commillee and the decision making process, the risk register, the Business Plan and recenl financial information including the financial performance of the charity. During the induclion day, they rneel key employees and other Trustees. Trustees are encouraged lo attend appropriale external Iraining events where these will lacilitale th8 undertaking ol their role. Organisational structure The Charity is governed by a Board of Management who are elecled lo office at the AGM in accordance wilh the lerms laid down in ils Memorandum and Articles of Associalion. This Board ol Manag8menl are the trustees ol the ChaTIty. The Board meets quarterly and there is a sub-committee coveiing finance, audil and slafl which normally meets Iwice a year or more frequently as required. An Executive Director is appointed by the Truslees lo manage the day lo day operations ol the Charity. Decisions are made by the Board but to lacililate operations, the Executive Director has delegated authority lor operational matters including finance, employment, fundraising, programming and project management. The Executive Director and Finance Manager allend Board meetings lo present reports and advis8 the Board. Risk managen7ent The Board ol Management meets on a quarterly basis lo discuss the issues and risks alfecling Ihe company, The company has appropriate systems in place lo identify Flotential risks and assess them in terms ol likelihood and significance. The risks are regularly monitored and controls are implemented in order lo mitigate any impact that they may have on Creative Arts East. This includes a Risk Regisler, the conlenl ol which is informed by consultation with slafl, Board and external slakeholders and which is reviewed al each Board meeting.
Creative Arts East Company Limited by Guarantee Trustees, annual report (incorporating the directors, report) (contlnued) Year ended 31 March 2025 Structure, governance and managemenl (contlnued) Independent examiner The independenl examiner, Mark Proclor of Lovewell Blake LLP, will be proposed lor re-appointment al the forthcoming Annual General Meeting. The trustees. annual report and the strategic report were approved on behalf of Ihe board ol trustees by.. and signed on Max Edwards (Chairl Trustee
Creative Arts East Company Limited by Guarantee Independent examiner's report to the trustees of Creative Arts East Year ended 31 March 2025 I report to Ihe charity trustees on my examination of the financial statements of the company lor the year ended 31 March2025 which comprise the slalement ol financial activilies (including income and expenditure account}, statement ol tinancial position, slalemenl of cash Ilows and the related notes. Responsibilities and basis ot report As the charity trustees of the company land also its directors for the purposes of company lawl you are responsible lor the preparation of the financial statements in accordance with the requiiements of the Companies Act 20061'the 2006 Acl'l. Having satisfied myself that the financial slalemenls of the company are not required lo be audited under Part 16 01 the 2006 Act and are eligible for independent examination, I report in respect ol my examination of your company's financial statements as carried out under section 145 01 the Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examinalion I have followed the Directions given by the Charity Commission under section 145151(bl of the 2011 Act. Independent examin8r's statemenl Since the charity's gross income exceeded £250,000 your examiner must be a member ol a body listed in section 145 of the 2011 A¢1. I confirm that l am qualified lo undertake the examination because l am a member ol the Institute ol Chartered Accounlanls in England and Wales IICAEWI, which is one of the listed bodies. I have completed my examination. I confirm that no mallers have come lo my allenlion in connection wilh Ihe examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the Company as r8quired by section 386 of the 2006 Act., or the financial slalements do not a¢cord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'tru@ and lair, view which is not a maller considered as part ol an independent examinalion; or the financial slalemenls have not been prepared in accordance with Ihe methods and principles ol the Slalement ol Recommended Practice lor accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021. I have no concerns and have come across no other mallers in connection with Ihe examination lo which allenlion should be drawn in this reporl in order lo enable a proper understanding ol Ihe accounts lo be reached. Mark Pr clor FCA DChA Independent Examiner Lovewell Blake LLP Chartered accounlanls Bankside 300 Peachman Way Broadland Business Park NOlCh NR7 OLB 10
Creative Arts East Company Limited by Guarantee Statement of financial activities (including income and expenditure account) Year ended 31 March 2025 2025 Reslricled funds Total funds 2024 Unrestricted funds Total funds Not6 Income and endowments Donations and legacies Chafltable activities Investment income 255,020 49,526 13,072 255,020 503,034 13,072 225,272 405,230 14,196 453,508 Total Income 317,618 453,508 771,126 644,698 Expenditure Charitable activities 316,286 316,286 453,508 769,794 769,794 643,288 Total expenditure 453,508 643,288 Net Income and net movement In funds 1,332 1,332 1,410 Reconclllatlon of funds Total funds brought forward Tolal tunds carried forward 77,407 77,407 75,997 77,407 78,739 78,739 The slalemenl ol financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 14 to 25 form part of these financial statements. 11
Creative Arts East Company Limited by Guarantee Statement of financial position 31 March 2025 2025 2024 Note Flxed assets Tangible fixed assets Investments 13 14 2.232 1,500 9,607 1,500 3,732 11,107 Currenl assets Debtors Cash al bank and in hand 15 15,036 425,524 16,409 416,724 440,560 433,133 Credltors: Amounts falling due within one year 16 1365,5531 1366,8331 Net current assets 75,007 66,300 Total assets less current Ilabllities 78,739 77,407 77,407 Net assets 78,739 Funds of the charlty Unrestricted funds 78,739 77,407 Total charlty funds 18 78,739 77,407 For the year ending 31 March 2025 the charity was entitled to exemption from audit under seclion 477 of the Companies Act 2006 relating to small companies. Directors, responsibilities.. The members have not required the company lo obtain an audit of ils financial slalemenls lor the year in question in accordance with section 476., The directors acknowledge their responsibililies lor complying with the r&quirements of the Act with respect lo accounting records and the preparation ol financial slalements. These financial slalemenls have been prepared in accordance with Ihe provisions applicable to companies subject lo the srnall companies. regime. cia statements were approved by the board of Iruslees and aulhorised for issue on nd are signed on behall ol the board by.. rc Max Edwards (Chairl Trustee Company registration number.. 02960157 The notes on pages 14 to 25 form part of these financlal slatements. 12
Creative Arts East Company Limited by Guarantee Statement of cash flows Year ended 31 March 2025 2025 2024 Cash flows from operatlng activities Net income 1,332 1,410 Adjustments for.. Depreciation of tangible fixed assels Other interest receivable and similar income 7,375 113,0721 8,299 114,196) Changes in.. Trade and other debtors Trade and other credilors 1,373 (1 ,2801 14,272) 13,652 68,249 Cash generated from operations 77,414 Interesl received 13,072 8,800 14,196 Net cash from operating activities 91,610 Cash f lows trom investing activities Purchase of langible assets Nel cash used in investing acllvilies 12,2201 12,2201 Net Increase In cash and cash equlvalents Cash and cash equlvalents at beginnlng of year Cash and cash equlvalents at end ol year 8,800 416,724 89,390 327,333 425,524 416,723 The notes on pages 14 to 25 torm part of these financial statements. 13-
Creative Arts East Company Limited by Guarantee Notes to the financial statements Year ended 31 March 2025 General information The charily is a public benefit entity and a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address ol the registered office is Dragon Hall, 115-123 King Street, Norwich, Norfolk, NR1 1 QE. Statement of compllance The charity conslilutes a public benelil enlily as defined by FRS 102. The financial slatemenls have been prepared in accordance with Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting SlandaTd applicable in the UK and Republic of Ireland Issued in October 2019, Ihe Financial Reporting Standard applicable in the United Kingdom and Republic ol Ireland IFRS 1021, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Pra¢li¢e. Accounting pollcles Basis of preparation The financial statements have been prepared on the historical cosl basis and are prepared in sterling, which is the functional currency of the entity. Golng concern The trustees have considered the level of funds held and the expecled level ol income and expenditure for 12 months from authorising these financial slalemenls. The budgeted income and expenditure is sufficient with Ihe level ol reserves for the charity lo be able lo continue, and as a resull the financial statements have been prepared on a going concern basis. Fund accountlng Unrestricted funds are availabl& for use al the discretion of the Iruslees lo further any of the charity's purposes. Designated funds are unreslricled funds earmarked by the trustees for particular future project or commitment. Reslricled funds are subjected lo re51rictions on their expenditure declared by the donor or through the terms ol an appeal, and fall into one of two sub-classe5: restricted income funds or endowment funds. Income All income is included in Ihe slalement of financial activities when enlillemenl has passed to the charity, il is probable Ihal the economic benefits associated with the Iransaclion will flow lo the charity and the amount can be reliably measured. The following specific policies are applied lo particular categories of income: income from donations or grants is recognised when there is evidence of enlillemenl lo the gilt, receipt is probable and its amount can be measured reliably funding received in respecl of future years is shown as deferred income al the balance sheel date and recognised in the period when the related activity occurs 14-
Creative Arts East Company Limited by Guarantee Notes to the financial statements (contlnuedj Year ended 31 March 2025 Accounting poll¢les (contlnued) Government grants Governmenl grants are recognised using the a¢¢rual model. Under the accrual model, government grants relating lo revenue are recognised on a syslemalic basis over the periods in which the company recognises the related costs lor which the granl is intended lo compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose ol giving immediate financial support lo the enlily with no future ielaled costs are recognised in income in the period in which il becomes Teceivable. Expendllure Expendilure is recognised on an accruals basis as a liability is incurred. Expendilure includes any V AT which cannot be fully recovered, and is classified under headings of the slalemenl ol financial activities lo which il relates: expenditure on raising funds includes the costs ol all fundraising aclivilies, events, non- charitable trading aclivilies, and the sale of donated goods. expenditure on charitable activities includes all costs incurred by a charity in Ltndertaking activities that further ils charitable aims lor the benefit ol ils beneficiaries, including Ihose support cosls and costs relating to the governance ol the charily apportioned lo charitable aclivilies. All costs are allocated lo expenditure categories reflecting the use ol the resource. DSrecl costs allribulable lo a single activity are allocated directly lo that activity. Shared costs are apportioned between the activities they conlribule lo on a reasonable, jusliliable and consistent basis. Operating leases Lease payrnenls are recognised as an expense over the lease tèrm on a slraighl-line basis. The aggregate benefit of lease incentives is recognised as a reduction lo expense over the lease term, on a slraighl-line basis. Tangible assets Tangible assets are initially recorded al cost, and subsequently slated al cost less any accumulated deprecialion and impairmenl losses. Any langible assels carried al revalued amounts are recorded al the fair value al the dale of revaluation less any subsequent accumulated depreciation and subsequent ac¢umulaled impairmenl losses. Depreclatlon Deprecialion is ¢alculaled so as lo write off the cost or valuation ol an asset, less ils residual value, over the useful economic life of that asset as follows: Website Display and office equipment Cinema equipment Computer equipment 20°/e slraighl line 33°/0 slraighl line and 20°/o Straight line 50010 slraighl line and 33.10 slraight line 33Q/o slraighl line 15-
Creative Arts East Company Limited by Guarantee Notes to the financial statements (contlnuedj Year ended 31 March 2025 A¢¢ounting policies (contlnued) Investments Unlisted investments are inilally recorded al cosl, and subsequently measured al fair value. If falr value cannot be reliably measured, assels are measured al cost less impairment. Impairment ot fixed assets A review for indicators of impairment is carried oul at each reporting date, wilh Ihe recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired ac¢ordingly. Prior impairments are also reviewed for possible reversal al each reporting dale. For the purposes ol impairmenl lesling, when il is not possible lo estimate the recoverable amount of an individual asset, an eslimate is made of the recoverable amount ol the cash-generaling unit lo which the asset belongs. The cash-generating unil is the smallest idenliliable group of assets that Includes the asset and generates cash inflows that largely independent ol the cash inflows from other assets or groups ol assels. Flnancial instrumenls A financial asset or a financial liability is recognised only when the enlily becomes a party lo the contractual provisions of the instrument. Basic financial instruments are initially recognised al the amount receivable or payable including any related Iransaclion cosls, unless the arrangement conslilulos a financing Iransaclion, where il is recognised at the present value ol the lulure payments discounted al a market rale of interest for a similar debt inslrumenl. Currenl assets and current liabililies are subsequently measured al the cash or other consideration expected lo be paid or received and not discounted. Defined contrlbution plans Contributions to defined contribution plans are recognised as an expense in the period in which Ihe related service is provided. Prepaid Contributions are recognised as an asset to the exlenl that the prepayment will lead lo a reduction in fL¢lure payments or a cash refund. Limited by guarantee Creative Arts Easl is a company limited by guarantee and accordingly does not have any share capital. 16-
Creative Arts East Company Limited by Guarantee Notes to the financial statements (confinued) Year ended 31 March 2025 Donations and legacies Unreslricled Total Funds Unre51ricted Total Funds Funds 2025 Funds 2024 Donatlons Donations 952 952 171 171 Grants Grants 254,068 255,020 254,068 225,101 225,272 225,101 255,020 225,272 Grants received, included in the above, are as follows.. 2025 2024 Arts Council NPO Funding Breckland Council King's Lynn and Wesl Norfolk Council Norfolk County Council Other grants Total grants 204,760 4,000 3,000 10,308 32,000 204,760 4,000 3,000 10,307 3,034 254,068 225,101 Charitable acllvltles Unreslricled Funds Reslricled Total Funds Funds 2025 Project aclivilies 49,526 453,508 503,034 Unrestricted Funds Restricted Total Funds Funds 2024 Project aclivitles 38,476 366,754 405,230 Investmenl Income Unreslri¢led Total Funds Unrestricted Total Funds Funds 2025 Funds 2024 Bank interest 13,072 13,072 14,196 14,196 17-
Creative Arts East Company Limited by Guarantee Notes to the financial statements {ntinUed) Year ended 31 March 2025 Expenditure on charitable activities by activity type Activities undertaken directly Support costs Tolal funds 2025 Total fund 2024 Direct proje¢l costs Wages Social security Printing, postage and slationery Subscriptions and publications Telephone and lax Training and development Travel and entertainment Other staff costs Deprecialion Sundries Bank lees and charges Premises costs Ollice cosls Marketing Insuran¢e Legal and professional lees Governance cosls 415,397 415,397 262,884 16,626 6,451 4,948 1,375 1,928 285,294 275,010 17,091 2,778 4,293 1,198 915 757 7,226 7,081 108 1,021 18,116 11.278 4,190 2,294 505 4,133 262,884 16,626 6,451 4,948 1,375 1,928 6,092 6,798 232 343 21,997 8,033 7,433 2,423 2,160 4,674 6,092 6,798 232 343 21,997 8,033 7,433 2,423 2,160 4,674 415,397 354,397 769,794 643,288 Expenditure on charitable activities includes restricted expenditure amounting to £453,508 12024: £366,754). Governance costs 202S 2024 Independent 8xaminalion - currenl year Other accountancy setvices 3,594 1,080 3,156 977 4,674 4,133 Net Income Net income is slated after charging/l¢redilingl: 2025 2024 Depreciation ol tangible fixed assets 7,375 8,299 10. Independent examination fees 2025 2024 Fees payable lo the independent examiner for.. Independent examination of the financial statements 3,594 3,156 18-
Creative Arts East Company Limited by Guarantee Notes to the financial statements (contlnued) Year ended 31 March 2025 11. Statt ¢o$ls The lolal staff costs and employee benefits lor the reporting period are analysed as follows.. 2025 2024 Wages and salaries Social security costs Employer conlributions lo pension plans 253,512 16,626 9,372 279,510 265,188 17,091 9,822 292,101 The average head count of employees during the year was 11 12024.. 131. No employee received employee benefits of more than £60,000 during Ihe year12024'. Nill. 12. Trustee remuneratlon and expenses There were no Iruslees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. No trustee expenses have been incurred in either the current or previous year. 13. Tangible tlxed ass8ts Display and off Ice Clnema Computer Website equipment equlpment equipment Total Cost At 1 Apr 2024 Disposals Al 31 Mar 2025 30,383 13,587 18,0511 5,536 33,296 27,214 115,2601 11,954 104,480 123,3111 81,169 30,383 33,296 Depreclatlon Al 1 Apr 2024 Charge lor the year Disposals At 31 Mar 2025 24,306 6,077 10,921 611 18,0511 3,481 33,296 26,350 687 115,2601 11,777 94,873 7,375 123,3111 78,937 30,383 33,296 Carrying amount At 31 Mar 2025 2,055 177 2,232 Al 31 Mar 2024 6,077 2,666 864 9,607 19-
Creative Arts East Company Limited by Guarantee Notes to the financial statements (continued) Year ended 31 March 2025 14. Investmenls Other Investments Cost or valuation At l Apr 2024 Additions 1,500 At 31 Mar 2025 1,500 Impalrment At 1 Apr 2024 and 31 Mar 2025 Carrying amount At 31 Mar 2025 1,500 At 31 Mar 2024 1 ,500 All investments shown above are held at valuation. There were no investment ass&ls outside the UK. Investments (neither listed nor unlistedl were as follows.. 2025 2024 Peter Blake arlwork 1 ,500 1,500 15. Debtors 2025 2024 Trade debtors Pr&payments and accrued income 2,047 12,989 9,752 6,657 15,036 16,409 16. Credltors: Amounts falling due withln one year 2025 2024 Trade creditors Accruals and deferred income Social security and other taxes 68,807 291,911 4,835 8,001 355,139 3,693 365,553 366,833 -20.
Creative Arts East Company Limited by Guarantee Notes to the financial statements (contlnued) Year ended 31 March 2025 16. Creditors: Amounls falling du8 Withln one year (conllnued) 2025 2024 Deferred income brought forward Released duiing the year Deferred during the year Deferred income carried forward 344,328 1344,328} 285,215 262,894 1262,8941 344,328 344,328 285,215 Deferred income relates lo funding received in respecl ol lulure years. 17. Penslons and other post retirement benefits Deflned contrlbutlon plans The amounl recognised in income or expenditure as an expense in relation lo delined contribution plans was £9,37212024.' £9,822). 21
Creative Arts East Company Limited by Guarantee Notes to the financial statements (contlnued) Year ended 31 March 2025 18. Analysis of charitable funds Y8ar ended 31 March 2025 Unrestricted funds At 1 April 2024 At 31 March 2025 Income Expenditure Transfers General funds Designated funds 27,407 50,000 317,618 (316,2861 12,500} 2,500 26,239 52,500 77,407 317,618 1316,2861 78,739 In 2023 the trustees Iransleired funds of £50,000 to a designated fund, with an additional Iransler of £2,500 in 2025. These funds are considered to be suflicienl to cover necessary costs in the event of the Charity's closure. Restrlcted funds Al 1 April 2024 At 31 March 2025 Income Expenditure Transfers BFI FAN Film Exhibition Fund Cambridge Rural Touring Flock l Young Creatives Network Inn Crowd LCEP Wesl norfolk shared PTospefily Mercers (The Earl of Northampton Fund) Non-Breckland Arts for Health Breckland Arts for Health Youth Music Project Rekindle (Nalionall Rekindle INorfolkl Migrant Support Know Your Neighbourhood 37,648 4,071 137,6481 14,0711 2,000 11,017 7,459 12,0001 111,017) 17,4591 8,854 18,8541 6,000 {6,0001 19,080 15,063 59,741 240,527 9,903 7,029 119,0801 115,0631 159,7411 1240,5271 19,9031 17,0291 25,116 125,1161 1453,5081 453,508 -22-
Creative Arts East Company Limited by Guarantee Notes to the financial statements (Gontlnued) Year ended 31 March 2025 Year ended 31 March 2024 Unrestricled funds Al 1 April 2023 At 31 March 2024 Income Expenditure Transfers General lunds Designated funds 25,997 50,000 277,944 1276,5341 27,407 50,000 75,997 277,944 1276,5341 77,407 Restrlcted funds At 1 April 2023 At 31 March 2024 Income Expenditur8 Transfers BFI FAN Film Exhibition Fund Cambridge Rural Touring Flock / Young Creatives Network Inn Crowd LCEP Kickslarl Mercers (The Eail of Northampton Fund) Non-8reckland Aris lor Health Plugged In Breckland Arts for Health Youth Music Project Rekindle (Nalionall Rekindle (Norfolkl 34,049 26,997 134,049) 126,9971 4,274 15,624 5,863 3,984 14,2741 115,6241 {5,8631 13,9841 21,219 121,2191 26,524 3,000 29,083 25,122 159,638 11,377 126,5241 13,0001 129,0831 125,1221 1159,6381 111,3771 1366,7541 366,754 Community Tourlng Projects Rekindle Nalional and Local 12023-20261 An Arts Council England Nationally Strategic Projecl supporling action research between arts organisalions and library services in 5 localities: Norfolk, Medway, Buckinghamshire, Sandwell. Blackburn, delivering workforce training and creative programming in the library space. BFI project funding from BFI Film Audience Network via the Film Hub Southeast to support the annual costs ol community cinema scheme, including management and license subsidy12023-20261 Migianl Support Know Your Neighbourhood Creative programming and producer support for Norfolk Library and Information Service, enabling creative events and activities serving migrant comrnunilies, early years and parents, job seekers, and those experiencing bereavement. -23-
Creative Arts East Company Limited by Guarantee Notes to the financial statements (continued) Year ended 31 March 2025 Cambridgeshire Rural Touring an Arts Council funded partnership project. led by Cambridgeshire ACRE from April 2020 - Sepiember 2023. The project will served to reignite rural touring provision across north Cambridgeshire, supporting and enabling community volunteer groups to access the Creative Arts Easl Live and Screen membership schemes, Inn Crowd a six-year Arts Council supported parlnership project presenting live performance in rural pubs12016-231 Cultural Education Projects LCEP - Arts Council funding and partnership investment via Norfolk and Norwich Festival lo support the Coordination and delivery functions of PEACH Wesl Nortolk a Local CullLtral Education Partnership across April 2020-March 2025. The work ol the LCEP, which is administered by CAE, aims lo radically Iransform the cultural education provision and ambitions of children and young people across the Borough ol King's Lynn and West Norfolk. Youth Music Move Shak8 12022- 20251 community musicians in residence across 6 rural communities and training for young peopl& to become community music evenl managers. Young Creatives Nelwoik a regional scheme aiming lo network and support young emerging creatives through dedicated training and employmenl opportunities. Creative Health and Wellbeing Projects Breckland Arts lor Health Mercers Wesl Norfolk Shared Prosperity Non-Breckland Arls lor Heallh These funds support afternoon creative workshops and allernoon events in rural communities across Breckland, Wesl Norfolk and Great Yarmouth,. enabling vulnerable older people experiencing ill health and l or loneliness to lake parl in creativity and increase their wellbeing and social connectedness as a result. -24-
Creative Arts East Company Limited by Guarantee Notes to Ihe financial statements (contlnued) Year ended 31 March 2025 19. Analysls of net assels between funds Unieslricled Funds Restricted Total Funds Funds 2025 Tangible fixed assets Investments Nel current assets 2,232 1,500 75,007 78,739 2,232 1,500 75,007 78,739 Unreslricled Funds Restricted Total Funds Funds 2024 Tangible fixed assets Investments Nel current assets 9,608 1,500 66,299 9,608 1,500 66,299 77,407 77,407 20. Analysls of changes In net debt At Al 1 Apr 2024 Cash flows 31 Mar 2025 Cash al bank and in hand 416,724 8,800 425,524 21. Operating lease commltments The total lulure minimum lease payments under non-cancellable operaling leases are as follows.. 2025 2024 Not later than 1 year Later Ihan l year and not later than 5 years 1,099 1,436 227 2,535 227 22. Related partles During Ihe year reimbursed expenses of £68012024.. £4061 were paid lo Liz SomeThille, a Iruslee ol Creative Arts East, in connection with one of the charity's health schemes for which she is a volunteer. No other related parly Iransaclions look place during the year. -25-