COMPANY REGISTRATION NUMBER: 02999055 CHARITY REGISTRATION NUMBER: 1043197
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee Unaudited financial statements
31 March 2024
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Financial statements
Year ended 31 March 2024
| Page | |
|---|---|
| Trustees' annual report (incorporating the directors' report) | 1 |
| Independent examiner's report to the trustees | 9 |
| Statement of financial activities (including income and expenditure account) | 10 |
| Balance sheet | 11 |
| Statement of cash flows | 12 |
| Notes to the financial statements | 13 |
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report)
Year ended 31 March 2024
The trustees, who are also the directors for the purposes of company law, present their report and the unaudited financial statements of the charity for the year ended 31 March 2024.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Companies Act 2006 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.
Chair's report
This year has been exciting as well as challenging for Babylon Arts (ADEC) with many opportunities helping us realise our vision to be the creative heart of Ely and the Fens. The board of trustees continue to be really impressed with the range and quality of work that is carried out by staff who were led by our CEO Michael Corley. The board of trustees successfully supported the team at Babylon Arts (BA) and as ever we are very grateful for the support of our members funders and stakeholders.
We said goodbye to a long-standing trustee, David Johnson in September 2023. We are very grateful to David for all of his hard work over the years. We also welcomed a new trustee Charlie Coultard.
We were pleased to host a wide range of visual art exhibitions at Babylon Arts with over twenty three thousand visitors enjoying thirteen exhibitions. We screened sixty eight films that were attended by over three thousand five hundred people.
We successfully secured funding from Arts Council England during the year to run another successful young curators programme with two young people curating wonderful exhibitions with strong concepts. Beth Haysom curated 'I Am Because We Are' based on the notion of 'Ubuntu' derived from her South African heritage. Nancy Mead concentrated on a food themed exhibition, 'A Matter of Taste', which also involved a community engagement strand and a range of accessible food related artworks in different media. Following on from that we launched a young associates group to empower young people to lead events in the area.
It was great this year to expand our audiences making our gallery and creative spaces accessible to a wider range of people. This was achieved through securing multiyear funding from the National Lottery Heritage Fund to delivery 'Inspired By Nature' a project involving people with sight loss, a local SEND school and the young associates. The project enables people with low vision to deepen their connection and engagement with nature through a 10 month programme of heritage and creative activities, in in partnership with Wicken Fen and Ely Museum. We welcomed people with low vision, referred to the project through our partners RNIB, CamSight and Fenland Society for the Blind.
These are just a few of the wonderful projects and events delivered by Babylon Arts this year that have contributed to us continuing to enrich people's lives through art and culture. More detail and other projects are covered in Significant Activities below.
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 March 2024
Reference and administrative details
Registered charity name ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts Charity registration number 1043197 Company registration number 02999055 Principal office and registered Babylon Gallery office Babylon Bridge Waterside Ely Cambs CB7 4AU
The trustees
The trustees who served during the year and at the date of approval were as follows:
L McCord (Chair) T Veith (Treasurer) D Bainbridge T Coney I Downey BA S Green C Harvey L Holland FRSA C Smith (Appointed 06/12/2023) J Jephcott (Resigned 12/02/2024) D Johnson (Resigned 06/12/2023)
Secretary
Independent examiner
I Downey BA
L Thurston FCCA Lovewell Blake LLP Chartered accountants First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 March 2024
Objectives and activities
Policies and objectives
In setting objectives and planning for activities, the trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit and they consider that the charity is fulfilling its obligations in this respect.
The charity's objects are to: Promote, maintain and encourage the arts, including without limitation, the arts of drama, dance, visual art, literature and film, for the advancement of education and to encourage public understanding of the arts, in the Eastern region of England.
In meeting our artistic objects, the charity also undertakes associated performance activities that contribute to making art, opera, theatre, ballet and film available to our key audiences as well as enhancing our profile as the key provider in the area that we represent.
Strategic report
The following sections for achievements and performance and financial review form the strategic report of the charity.
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued) Year ended 31 March 2024
Achievements and performance
Vision : To be the creative heart of the Fens
Mission : Developing creativity and connecting communities with arts and culture
Values :
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Resourceful : We seek new partnerships and opportunities to help arts and creativity thrive.
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Passionate : We care deeply about our communities and are committed to creating exciting creative opportunities.
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Curious : We are open to new ideas and ways of working, taking risks to reach new au-diences.
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Inclusive : We value diversity, promote equality, and provide a supportive environment for everyone involved in the arts.
Our Goals
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Create and present inspiring arts and culture with and for the people of East Cambridgeshire, Fenland, and Cambridgeshire.
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Build creative networks and partnerships to expand arts and culture across The Fens and beyond.
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Support early and mid-career artists in developing their skills and sustaining creative careers.
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Ensure our work has a lasting social, cultural, and economic impact, while also being environmentally responsible and financially sustainable.
What we do
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Creative Spaces : We host exhibitions and events at Babylon Gallery and offer film and live performances at Babylon Cinema. We work with partners to produce new art and cultural experiences, support artist development, and bring cultural activities to outdoor and community settings.
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Creative Communities : We collaborate with local communities to enhance the cul-tural offer in their areas, inspired by local people and places. Our partnerships with Wicken Fen and The Library Presents are good examples.
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Creative Learning : We provide resources like Creative Briefs and The Culture Cata-logue to help young people and schools develop creative skills and explore careers in the arts.
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MarketPlace : Babylon Arts is the lead organisation for MarketPlace, an action re-search and audience development project, where local people decide the creative and cultural activity that happens in Fenland and West Suffolk.
Highlights
Babylon Gallery and Babylon Cinema at The Maltings : 23,119 gallery visitors 2023/24 (21,000 2022/23) seeing 13 visual arts exhibitions, 3,685 cinema tickets sold 2023/24 (3,548 2022/23) watching 68 film screenings.
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 March 2024
Inspired by Nature : Babylon Arts have been working in partnership with Ely Museum, RNIB and the National Trust's Wicken Fen Nature Reserve to deliver Inspired by Nature, made possible with the National Lottery Heritage Fund. Thanks to National Lottery players, by September 2024 we will have delivered an 18-month programme developing creative approaches that facilitate connection and engagement with nature for people with low vision, children, young people and the wider public. The programme has improved access to arts and heritage for a wider range of people and enabled Babylon Gallery, Wicken Fen and Ely Museum to be welcoming, inclusive and accessible sites.
One important element of the programme was working alongside young arts professionals. Supported by the Babylon Arts team, 6 members of Basecoat Collective (formally Babylon Young Associates) devised the concept of the Open Challenge, Sensing Nature. Through in-person visits to Ely Museum, meetings at Babylon Gallery and in-person, they devised the call-out for the open challenge. Acknowledging that we experience nature through all our senses, and in response to the inclusive ambitions of Inspired by by Nature, Basecoat Collective's goal was for artworks that could encourage engagement through touch and listening, as well as looking. The group selected over 60 works to be displayed in the exhibition, involved in a range of roles to support exhibition development including curation, interpretation, installation and supporting the creation of the audio-guide through writing audio descriptions. The Sensing Nature exhibition was enjoyed by 1,622 people, with an average visitor number of 77 a day. The audio-guide was created by the young people, with support from RNIB and CamSight. You can listen to the audio-guide here. A virtual exhibition was created and available online here. Audio pieces created by the public are also available online here.
Babylon Young Curators : The project exceeded our expectations in terms of reach and range of participants, benefitting young people seeking careers in the creative industries, in particular. The two Babylon Young Curators were from Ely and were supported to curate a professional exhibition each at Babylon Arts. These public facing events were the highlight of their journeys and their resulting exhibitions, 'I am because we are' and 'A Matter of Taste' were well attended and very well received. Both curators gave considerable thought to the community engagement elements within their exhibitions in accordance with a desire to attract new audiences which added tremendous appeal. Both Babylon Young Curators have been offered further curation opportunities via partnerships with Parndon Mill in Harlow and are working to curate saleable work by graduates and emerging artists.
The Young Associates element of the project garnered a lot of interest from young creatives in East Cambridgeshire and beyond, some of whom were graduates of Fine Art, Photography and Performing arts and a core group of 8 young people signed up for the full programme of 6 creative practice development sessions and associated curation and workshop opportunities. Feedback indicated their passion for the programme and the opportunities it has provided. For example, they planned and delivered drop in art and craft workshops at Ely Market in the summer for families and reached almost 100 people with excellent feedback being captured that indicated the public desire for more of these opportunities.
Young Associates were key players in the Inspired by Nature project, devising a call-out to the public for work that is sensory and tactile on the theme of nature and will select and curate an exhibition in February. They were also invited to the Fitzwilliam Museum Creative Careers Fair to deliver a digital Tagtool workshop for 60 other younger people seeking careers in the creative industries and have been invited back in February 2024 for the next session. Also, following a Go-See visit to Brixworth Country Park to view an exhibition by Fermynwoods, a new partner, they have been invited to lead 2 days of workshops for pupils excluded from school. We forged new relationships with the CHS Group and with the Adams Heritage Centre in Littleport, hearing about the work of the Young Associates by word of mouth.
The Library Presents : Cambridgeshire County Council is funded by Arts Council England to run 'The Library Presents' in partnership with Babylon Arts. The scheme brings quality arts activities to venues across Cambridgeshire. In 2023/24 the programme is in its sixth year of delivery. 100 activities were programmed, 93 activities were delivered across 32 venues (24 Cambridgeshire libraries and 8 non-library locations). Activities included content for all ages groups and covered 11 art forms: Circus, Comedy, Creative Technology, Creative Writing/Poetry, Dance, Drama, Film, Magic, Music, Puppetry and Visual Art. A significant development in public engagement this year was an increase in the accessibility to the programme, engage more disabled artists, maintain high participant numbers and diversify content.
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 March 2024
Accessibility offers included: British Sign Language, Relaxed Performances, Touch Tours, Hearing Loops, HAF (Holiday Activities and Food) sessions and Pay What You Think tickets. Babylon Arts lead on cultural programming menu creation including community decision making, artist relationships and creative practice development and evaluation.
MarketPlace : Babylon Arts is the lead organisation for MarketPlace, an action research and audience development programme, where local people decide the creative and cultural activity that happens in Fenland and West Suffolk.
Highlights include:
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An immersive outdoor theatrical experience Escape from Fort Lagoon presented over the late May Holiday weekend by Wake the Beast and Submersion Productions attracting 100 adults and children, all who escaped capture and most enjoying sanctuary with swim and music in the River Lark.
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Celebrating the opening of a flexible Open Performance Space in Brandon Country Park, initiated by Brandon Creative Forum. Brandon Poetry Group read compositions inspired by the area and created at a recent workshop, Happy to Sing Choir performed a range of upbeat songs, Flaming June trio entertained with a number of original songs showcasing the impressive acoustics the venue offers, and a local storyteller representing the Country Park related tales of local history.
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A successful second year of Rivers of Light in Newmarket with an increase in public attendees and participants across all programmed activity. More than 500 people participating in the Rivers of Light community lantern parade along the chalk stream path in Newmarket on 24 February 2024 and a total of 157 people attended artist-led lantern-making workshops in advance of the parade.
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The Voices of Forest and Fen project developed from the impact of FenScapers, a new group of writers who gathered during lockdown to share their inspiration and ideas of the Fenland landscape through writing. 11 new stories have been produced reflecting Fenland life and landscape, the writers' first live readings taking place at the Fen Folks Friday monthly online social event.
Babylon Arts continued to work on diversifying its funding streams in a challenging financial environment for small charities. Alongside the National Lottery Heritage Fund support for the Inspired by Nature project, we secured grant funding from a range of funders including Garfield Weston Foundation, Heritage Compass and Cambridgeshire ACRE, ending the year with unrestricted cash reserves of £39,458.
Financial review
Overall income for the year was £532,094 (2023: £441,688), an increase of £90,406 on the previous year, and total expenditure amounted to £528,160 (2023: £395,118) an increase of £133,042 on the previous year. Babylon ARTS achieved a total net movement in funds for the year of £3,934 (2023: £46,570), full details of which are shown in the Statement of Financial Activities.
Reserves policy
The board of trustees has examined the charity's requirements for reserves in light of the main risks to the charity. It has established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets should be between 3-6 months operating costs. Being the level to of funds to cover short term cash flow issues, such as where grants are paid in arrears of expenditure and to ensure that the charity has sufficient reserves to cover the operational costs during any period of low activity. Based on the charity's current activity levels, the trustees have assessed that the reserves it should be holding equate to between £35,000-£70,000.
At the year end, the total funds held by the charity were £127,746 (2023: £123,812), of which £88,288 is restricted (2023: £110,671) and unrestricted funds were £39,458 (2023: £13,141) which is within the charity's reserves policy. A new fundraising plan has been devised and implemented with the aim to increase the unrestricted reserves in the future.
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 March 2024
Plans for future periods
Future developments
In 2025, Babylon Arts will celebrate 30 years of arts and creative development in East Cam-bridgeshire and beyond. We excel in audience engagement and collaboration, aligning re-sources to help local communities live the creative lives they value. Looking ahead, we plan to:
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Develop a business model that reinvests profits into our charitable activities, focusing on supporting local artists and young people.
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Continue our strong partnerships with The Library Presents and Wicken Fen, growing creative and cultural engagement across Cambridgeshire.
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Build the legacies of Babylon Young Curators and Inspired By Nature by working in partnership and collaborating with partners to fundraise for future work.
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Continue our role as Lead Partner for MarketPlace Creative People and Places project, where local people decide the creative and cultural activity that happens in Fenland and West Suffolk.
Structure, governance and management
a. Constitution
ADEC (Arts Development in East Cambridgeshire) which is also known as and operates under the names Babylon Arts or ADEC, with any of these terms used throughout these accounts; is a charity registered as a charitable company limited by guarantee and was set up and constituted by the Memorandum of Association on 7 December 1994. We have permission not to use 'Ltd' in our name. The registration number of the charity is 1043197.
b. Method of appointment or election of trustees
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements are listed in the reference and administration details of these accounts.
The management of the charity is the responsibility of the trustees who are elected or co-opted under the terms of the Articles of Association. The board of trustees aim to maintain a broad mix of business, artistic and community based skills, and to this end an audit of trustee skills is carried out on a regular basis. When particular skills are lost, individuals with relevant skills are approached to offer themselves for election to the board of trustees. Members are elected to serve for a period of three years after which they can offer themselves for re-election at the next Annual General Meeting.
c. Organisational structure and decision making
ADEC has a board of trustees of up to 15 members who meet six times a year and are responsible for the strategic direction and policy of the charity. At the 2023/24 year end, the committee was made up of nine members from a variety of backgrounds relevant to the work of the charity. The board is accountable for the general management of ADEC, and responsible for the direction of its affairs; it determines all policy matters including ADEC's strategy, business plan and budget, and the board determines the delegated powers to its chair and any sub-committees. Sub-committees report to the board and a sub-committee may authorise its chair to take appropriate executive action, according to its delegated powers. We have two sub-committees, a Finance and General Purposes Sub-Committee and a Gallery Advisory Sub Committee.
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Trustees' annual report (incorporating the directors' report) (continued)
Year ended 31 March 2024
Structure, governance and management (continued)
d. Policies adopted for the induction and training of trustees
Potential trustees are provided with an information pack, including information about the structure and activities of the charity, and the role of the trustee in the operation of the charity, and are invited to visit ADEC and meet the staff team. All trustees are regularly invited to attend events and activities run by the charity.
e. Related party relationships
In so far as it is complementary to the charity's objects, the charity is guided by both local and national policy. These policies fall into two main categories; arts and cultural policy, and broader non-arts policies, where the arts are able to play a positive role in meeting policy needs. Owing to the nature of the charity's operations and the composition of the board of trustees being drawn from local public and private sector organisations, it is inevitable that transactions will take place with organisations in which a member of the board of trustees may have an interest. All transactions involving such organisations are conducted at arm's length and in accordance with the charity's financial regulations and normal procurement procedures. Where relevant, related party transactions are disclosed elsewhere in these accounts.
f. Risk management
The trustees have assessed the major risk to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. A risk register has been established which is reviewed annually. Where appropriate, systems have been established to mitigate the risks faced by the charity. External risks to funding have led to the development of a strategic plan, which allows for the diversification of funding and activities. Internal risks are minimised by the implementation of procedures for authorisation of all transactions and projects and to ensure consistent quality of delivery for all operational aspects of the charitable company. These procedures are periodically reviewed to ensure that they still meet the needs of the charity.
Independent examiner reappointment
A resolution to appoint L Thurston FCCA of Lovewell Blake LLP as independent examiner will be proposed at the next meeting.
The trustees' annual report and the strategic report were approved on .............................. and signed on11 November 2024 behalf of the board of trustees by:
L McCord (Chair) Trustee
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Independent examiner's report to the trustees of ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Year ended 31 March 2024
I report to the charity trustees on my examination of the financial statements of the company for the year ended 31 March 2024 which comprise the statement of financial activities (including income and expenditure account), balance sheet, statement of cash flows and the related notes.
Responsibilities and basis of report
As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act’).
Having satisfied myself that the financial statements 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 company's financial statements 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
Since the charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
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 that in any material respect:
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accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
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the financial statements do not accord with those records; or
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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 ‘true and fair' view which is not a matter considered as part of an independent examination; or
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the financial statements 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.
L Thurston FCCA Independent Examiner
Lovewell Blake LLP Chartered accountants First Floor Suite 2 Hillside Business Park Bury St Edmunds IP32 7EA
05 December 2024
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Statement of financial activities (including income and expenditure account)
Year ended 31 March 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | ||||
| funds | funds | Total funds | Total funds | ||
| Note | £ | £ | £ | £ | |
| Income and endowments | |||||
| Donations and legacies | 5 | 25,707 | 403,908 | 429,615 | 342,122 |
| Charitable activities | 6 | 93,692 | 784 | 94,476 | 92,314 |
| Other trading activities | 7 | 7,933 | – | 7,933 | 7,185 |
| Investment income | 8 | 70 | – | 70 | 67 |
|
|
|
|
||
| Total income | 127,402 | 404,692 | 532,094 | 441,688 | |
|
|
|
|
||
| Expenditure | |||||
| Charitable activities | 9 | 101,085 | 427,075 | 528,160 | 395,118 |
|
|
|
|
||
| Total expenditure | 101,085 | 427,075 | 528,160 | 395,118 | |
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||
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|
|
|
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| Net income and net movement in funds | 26,317 | (22,383) | 3,934 | 46,570 | |
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| Reconciliation of funds | |||||
| Total funds brought forward | 13,141 | 110,671 | 123,812 | 77,242 | |
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| Total funds carried forward | 39,458 | 88,288 | 127,746 | 123,812 | |
|
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|
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The notes on pages 13 to 24 form part of these financial statements.
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Balance sheet
31 March 2024
| 2024 | 2023 | ||||
|---|---|---|---|---|---|
| Note | £ | £ | £ | £ | |
| Fixed assets | |||||
| Tangible fixed assets | 14 | 1,707 | 2,717 | ||
| Current assets | |||||
| Stocks | 15 | 1,644 | 668 | ||
| Debtors | 16 | 17,554 | 75,226 | ||
| Cash at bank and in hand | 144,992 | 75,784 | |||
| | | ||||
| 164,190 | 151,678 | ||||
| Creditors: Amounts falling due within | |||||
| one year | 17 | (38,151) | (30,583) | ||
| | | ||||
| Net current assets | 126,039 | 121,095 | |||
| | | ||||
| Total assets less current liabilities | 127,746 | 123,812 | |||
| | | ||||
| Net assets | 127,746 | 123,812 | |||
| | | ||||
| Funds of the charity | |||||
| Restricted funds | 88,288 | 110,671 | |||
| Unrestricted funds | 39,458 | 13,141 | |||
| | | ||||
| Total charity funds | 19 | 127,746 |
123,812 |
For the year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the board of trustees and authorised for issue on ........................, and are signed on behalf of the board by:11/11/2024
L McCord (Chair) T Veith (Treasurer) Trustee Trustee
Company registration number: 02999055
The notes on pages 13 to 24 form part of these financial statements.
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Statement of cash flows
Year ended 31 March 2024
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Cash flows from operating activities | ||
| Net income | 3,934 | 46,570 |
| Adjustments for: | ||
| Depreciation of tangible fixed assets | 1,010 | 1,010 |
| Other interest receivable and similar income | (70) | (67) |
| Accrued expenses/(income) | 3,244 | (39,272) |
| Changes in: | ||
| Stocks | (976) | 144 |
| Trade and other debtors | 57,672 | (39,982) |
| Trade and other creditors | 4,324 | (7,066) |
|
|
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| Cash generated from operations | 69,138 | (38,663) |
| Interest received | 70 | 67 |
|
|
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| Net cash from/(used in) operating activities | 69,208 | (38,596) |
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|
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| Net increase/(decrease) in cash and cash equivalents | 69,208 | (38,596) |
| Cash and cash equivalents at beginning of year | 75,784 | 114,380 |
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|
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| Cash and cash equivalents at end of year | 144,992 |
75,784 |
The notes on pages 13 to 24 form part of these financial statements.
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements
Year ended 31 March 2024
1. General information
The charity 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 of the registered office is Babylon Gallery, Babylon Bridge, Waterside, Ely, Cambs, CB7 4AU.
2. Statement of compliance
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with 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 issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through income or expenditure.
The financial statements are prepared in sterling, which is the functional currency of the entity, and rounded to the nearest pound.
Going concern
The accounts have been prepared on the going concern basis and the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected income and expenditure for the next 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
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ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Fund accounting
Unrestricted funds are available for use at the discretion of the trustees to further any of the charity's purposes.
Designated funds where necessary, are unrestricted funds earmarked by the trustees for particular future project or commitment.
Restricted funds are subjected to restrictions on their expenditure declared by the donor. The purposes and uses of the restricted funds are set our in the notes to the financial statements.
Income
All income is included in the statement of financial activities when entitlement has passed to the charity, it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income:
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income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
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legacy income is recognised when receipt is probable and entitlement is established.
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income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
Expenditure
Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings of the statement of financial activities to which it relates:
-
expenditure on raising funds includes the costs of all fundraising activities, events, non-charitable trading activities, and the sale of donated goods.
-
expenditure on charitable activities includes all costs incurred by a charity in undertaking activities that further its charitable aims for the benefit of its beneficiaries, including those support costs and costs relating to the governance of the charity apportioned to charitable activities.
All costs are allocated to expenditure categories reflecting the use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apprortioned between the activities they contribute to on a reasonable, justifiable and consistent basis.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
- 14 -
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2024
3. Accounting policies (continued)
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Gallery and cinema equipment
- 20% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
Basic financial instruments are initially recognised at the amount receivable or payable including any related transaction costs, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Current assets and current liabilities are subsequently measured at the cash or other consideration expected to be paid or received and not discounted.
Debt instruments are subsequently measured at amortised cost.
4. Limited by guarantee
The charity is a company limited by guarantee and accordingly does not have share capital. Every member of the company undertakes to contribute such an amount as may be required (not exceeding £1) to the company's assets if it should be wound up whilst they are a member, or within one year after they cease to be a member, to cover the liabilites of the company.
- 15 -
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2024
5. Donations and legacies
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2024 | |
| £ | £ | £ | |
| Donations | |||
| Donations received | 4,267 | 5,500 | 9,767 |
| Gift aid tax reclaimed | 540 | – | 540 |
| Grants | |||
| ACE - Arts Council England: | |||
| - Creative People & Places - P3 Core | – | 240,000 | 240,000 |
| - Babylon Young Curators Project | – | 32,772 | 32,772 |
| - Creative People & Places - Improvement Plan | – | 12,000 | 12,000 |
| National Heritage - Inspire by Nature | – | 89,986 | 89,986 |
| Garfield Weston | 20,000 | – | 20,000 |
| Cause 4 Limited - Heritage Compass | – | 5,000 | 5,000 |
| Know Your Neighbourhood - P3 Core | – | 4,500 | 4,500 |
| Fenland and District Arts Association - P3 Core | – | 4,000 | 4,000 |
| The Independent Cinema Office: | |||
| - FHSE Film Finds Project | – | 3,150 | 3,150 |
| - The Boy & The Heron | 200 | – | 200 |
| Cambridgeshire ACRE - Rural Touring Project | – | 3,000 | 3,000 |
| Newmarket Community Arts - P3 Core | – | 2,700 | 2,700 |
| East Cambridgeshire District Council - Babylon Young Curators Project | |||
| - Babylon Young Curators Project | – | 1,000 | 1,000 |
| - Towards Film Licence and Screening costs | 200 | – | 200 |
| West Suffolk Council - P3 Core | – | 600 | 600 |
| The Rotary Club | 500 | – | 500 |
| Inspired by Nature | – | (300) | (300) |
|
|
|
|
| 25,707 | 403,908 | 429,615 | |
|
|
|
- 16 -
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2024
| Unrestricted | Restricted | Total Funds | |
|---|---|---|---|
| Funds | Funds | 2023 | |
| £ | £ | £ | |
| Donations | |||
| Donations received | 6,295 | – | 6,295 |
| Gift aid tax reclaimed | 858 | – | 858 |
| Grants | |||
| ACE - Arts Council England: | |||
| - Creative People & Places - P3 Core | – | 240,000 | 240,000 |
| - Babylon Young Curators Project | – | 32,773 | 32,773 |
| - Creative People & Places - Improvement Plan | – | 12,000 | 12,000 |
| - Creative People & Places - P2 Core | – | (380) | (380) |
| Local Authority Funding: | |||
| - Creative People & Places - P3 Core | – | 30,000 | 30,000 |
| - East Cambs Primary School Pop-up Events Project | – | 500 | 500 |
| Norwich & Norfolk Festival Trust: | |||
| - CC Futures Bridge Project | – | 5,800 | 5,800 |
| - Norwich & Norfolk Festival Bridge Project | – | 3,000 | 3,000 |
| Cambridge Community Foundation: | |||
| - Jubilee Fund | – | 5,526 | 5,526 |
| Cambridgeshire ACRE - Rural Touring Project | – | 2,000 | 2,000 |
| The Independent Cinema Office: | |||
| - FHSE Building Connections Project | – | 850 | 850 |
| - FHSE Film Finds Project 22-23 | – | 1,850 | 1,850 |
| East Cambridgeshire District Council - Babylon Young | |||
| Curators Project | – | 750 | 750 |
| Inspired by Nature | – | 300 | 300 |
|
|
|
|
7,153 |
334,969 |
342,122 |
| 6. | Charitable activities | |||
|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Babylon gallery | 12,214 | 251 | 12,465 | |
| Ely cinema | 26,911 | – | 26,911 | |
| ADeC live events | 719 | 533 | 1,252 | |
| Sundry earned income | 5,998 | – | 5,998 | |
| Contract income from projects | 47,850 | – | 47,850 | |
|
|
|
||
| 93,692 | 784 | 94,476 | ||
|
|
|
- 17 -
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2024
| 6. | Charitable activities (continued) | ||||
|---|---|---|---|---|---|
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Babylon gallery | 16,322 | – | 16,322 | ||
| Ely cinema | 26,270 | – | 26,270 | ||
| ADeC live events | 828 | – | 828 | ||
| Sundry earned income | 5,644 | – | 5,644 | ||
| Contract income from projects | 43,150 | 100 | 43,250 | ||
|
|
|
|||
| 92,214 | 100 | 92,314 | |||
|
|
|
|||
| 7. | Other trading activities | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Rental income from Gallery lettings | 7,933 | 7,933 | 7,185 | 7,185 | |
|
|
|
|
||
| 8. | Investment income | ||||
| Unrestricted | Total Funds | Unrestricted | Total Funds | ||
| Funds | 2024 | Funds | 2023 | ||
| £ | £ | £ | £ | ||
| Interest receivable | 70 | 70 | 67 | 67 | |
|
|
|
|
||
| 9. | Expenditure on charitable activities | ||||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2024 | |||
| £ | £ | £ | |||
| Direct costs | 55,581 | 219,668 | 275,249 | ||
| Staff costs | 51,190 | 172,178 | 223,368 | ||
| General office and premises costs | (5,686) | 35,229 | 29,543 | ||
|
|
|
|||
| 101,085 | 427,075 | 528,160 | |||
|
|
|
|||
| Unrestricted | Restricted | Total Funds | |||
| Funds | Funds | 2023 | |||
| £ | £ | £ | |||
| Direct costs | 54,195 | 102,859 | 157,054 | ||
| Staff costs | 73,725 | 122,557 | 196,282 | ||
| General office and premises costs | 27,588 | 14,194 | 41,782 | ||
|
|
|
|||
| 155,508 | 239,610 | 395,118 | |||
|
|
|
|||
| 10. | Net income | ||||
| Net income is stated after charging/(crediting): | |||||
| 2024 | 2023 | ||||
| £ | £ | ||||
| Depreciation of tangible fixed assets | 1,010 | 1,010 | |||
|
|
- 18 -
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2024
11. Independent examination fees
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Fees payable to the independent examiner for: | ||
| Independent examination of the financial statements | 2,121 | 2,016 |
| Other financial services | 1,610 | 2,025 |
|
|
|
| 3,731 | 4,041 | |
|
|
12. Staff costs
| 2024 | 2023 | |
|---|---|---|
| £ | £ | |
| Wages and salaries | 207,302 | 182,242 |
| Employers NI | 12,203 | 10,819 |
| Pension costs | 3,863 | 3,221 |
|
|
|
| 223,368 | 196,282 | |
|
|
The average head count of employees during the year was 16 (2023: 15).
No employee received employee benefits of more than £60,000 during the year (2023: Nil).
Key Management Personnel
Key management personnel include all personnel that have the authority and responsibility for planning, directing and controlling the activities of the charity. The total compensation paid to key management personnel for services provided to the charity was £43,073 (2023: £29,439).
13. Trustee remuneration and expenses
No trustee received any remuneration during the year (2023: £Nil). No trustee was reimbursed expenses during the year (2023: one trustee £27).
14. Tangible fixed assets
| Gallery and | |
|---|---|
| cinema | |
| equipment | |
| £ | |
| Cost | |
| At 1 April 2023 and 31 March 2024 | 52,415 |
|
|
| Depreciation | |
| At 1 April 2023 | 49,698 |
| Charge for the year | 1,010 |
|
|
| At 31 March 2024 | 50,708 |
|
|
| Carrying amount | |
| At 31 March 2024 | 1,707 |
|
|
| At 31 March 2023 | 2,717 |
|
- 19 -
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2024
| 15. | Stocks | ||
|---|---|---|---|
| 2024 | 2023 | ||
| £ | £ | ||
| Raw materials and consumables | 1,644 | 668 | |
|
|
||
| 16. | Debtors | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Trade debtors | – | 899 | |
| Prepayments and accrued income | 14,304 | 71,077 | |
| Other debtors | 3,250 | 3,250 | |
|
|
||
| 17,554 | 75,226 | ||
|
|
||
| 17. | Creditors: Amounts falling due within one year | ||
| 2024 | 2023 | ||
| £ | £ | ||
| Trade creditors | 5,580 | 7,229 | |
| Accruals and deferred income | 10,851 | 7,607 | |
| Social security and other taxes | 10,868 | 10,622 | |
| Other creditors | 10,852 | 5,125 | |
|
|
||
| 38,151 | 30,583 | ||
|
|
18. Deferred income
Deferred income comprises refundable cinema ticket sales and gallery hire, along with grants and income in accordance with the conditional terms and as set by the grant provider.
| £ | |
|---|---|
| Balance as at 1 April 2023 | 1,799 |
| Amount released to income earned from charitable activities | (1,799) |
| Amount deferred in year | 4,006 |
|
|
| Balance as at 31 March 2024 | 4,006 |
|
- 20 -
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2024
19. Analysis of charitable funds
Year ended 31 March 2024
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At 1 April | At 31 March | ||||
| 2023 | **Income ** | Expenditure | Transfers | 2024 | |
| £ | £ | £ | £ | £ | |
| General funds | 13,141 | 127,402 | (101,085) | – | 39,458 |
|
|
|
|
|
|
| 13,141 | 127,402 | (101,085) | – | 39,458 | |
|
|
|
|
|
|
| Restricted funds | |||||
| At 1 April | At 31 March | ||||
| 2023 | **Income ** | Expenditure | Transfers | 2024 | |
| £ | £ | £ | £ | £ | |
| Creative People & Places - P3 | 76,323 | 257,550 | (265,891) | – | 67,982 |
| Creative People & Places - | |||||
| Improvement Plan | 10,240 | 12,000 | (17,006) | – | 5,234 |
| Babylon Young Curators | 24,108 | 33,556 | (57,664) | – | – |
| Babylon Young Associates | – | 750 | (248) | – | 502 |
| FHSE Film Finds 2023 Pay | |||||
| What You Can | – | 3,000 | (3,000) | – | – |
| FHSE Film Finds Project 2022- | |||||
| 23 | – | 150 | (150) | – | – |
| Heritage Compass | – | 5,000 | (5,000) | – | – |
| Inspire by Nature | – | 89,686 | (75,116) | – | 14,570 |
| Rural Touring Project | – | 3,000 | (3,000) | – | – |
|
|
|
|
|
|
| 110,671 | 404,692 | (427,075) | – | 88,288 | |
|
|
|
|
|
Year ended 31 March 2023
| Unrestricted funds | |||||
|---|---|---|---|---|---|
| At 1 April | At 31 March | ||||
| 2022 | **Income ** | Expenditure | Transfers | 2023 | |
| £ | £ | £ | £ | £ | |
| General funds | 55,675 | 106,619 | (155,508) | 6,355 | 13,141 |
| Designated funds | 6,355 | – | – | (6,355) | – |
|
|
|
|
|
|
| 62,030 | 106,619 | (155,508) | – | 13,141 | |
|
|
|
|
|
- 21 -
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2024
| Restricted funds | |||||
|---|---|---|---|---|---|
| At 1 April | At 31 March | ||||
| 2022 | Income Expenditure | Transfers | 2023 | ||
| £ | £ | £ | £ | £ | |
| Creative People & Places - P2 | 7,513 | (380) | (7,133) | – | – |
| Large Marg Dance Project | 1,500 | – | (1,500) | – | – |
| Creative Spaces | 1,000 | – | (1,000) | – | – |
| East Cambs Primary School | |||||
| Pop-Up Events | 5,199 | 500 | (5,699) | – | – |
| Creative People & Places - P3 | – | 270,000 | (193,677) | – | 76,323 |
| Creative People & Places - | |||||
| Improvement Plan | – | 12,000 | (1,760) | – | 10,240 |
| Babylon Young Curators | |||||
| Project | – | 33,523 | (9,415) | – | 24,108 |
| CC Futures Bridge Project | – | 5,900 | (5,900) | – | – |
| FHSE Building Connections | |||||
| Project | – | 850 | (850) | – | – |
| FHSE Film Finds Project 22-23 | – | 1,850 | (1,850) | – | – |
| Inspired By Nature | – | 300 | (300) | – | – |
| Jubilee Fund | – | 5,526 | (5,526) | – | – |
| Norfolk & Norwich Festival | |||||
| Bridge Project | – | 3,000 | (3,000) | – | – |
| Rural Touring Project | – | 2,000 | (2,000) | – | – |
|
|
|
|
|
|
| 15,212 | 335,069 | (239,610) | – | 110,671 | |
|
|
|
|
|
|
| CLIENT TO REVIEW / UPDATE | FOR ALL FUND | WORDING |
Restricted fund purposes:
-
Creative People & Places - P3: A large-scale project called MarketPlace to increase arts engagement in Fenland and West Suffolk, funded primarily by Arts Council England.
-
Creative People & Places - Improvement Plan: The income received within this fund is restricted to the purposes set out by the fund provider.
-
Babylon Young Curators: The income received within this fund is restricted for the purpose of this project.
-
Babylon Young Associates: The income received within this fund is restricted to the purposes set out by the fund provider.
-
Inspire by Nature: The income received within this fund is restricted to the purposes set out by the fund provider.
- 22 -
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2024
The following restricted projects have been completed:
-
FHSE Film Finds 2023 Pay What You Can: The income received within this fund is restricted to the purposes set out by the fund provider.
-
FHSE Film Finds Project 2022-23: The income received within this fund is restricted to the purposes set out by the fund provider.
-
Heritage Compass: The income received within this fund is restricted to the purposes set out by the fund provider.
-
Rural Touring Project: The income received within this fund is restricted to the purposes set out by the fund provider.
-
Creative People & Places - P2: A large-scale project called MarketPlace to increase arts engagement in Fenland and West Suffolk, funded primarily by Arts Council England.
-
Large Marg Dance Project: The income received within this fund is restricted to the purposes set out by the fund provider.
-
East Cambs Primary School Pop-Up Events: The income received within this fund is restricted to the purposes set out by the fund provider.
-
CC Futures Bridge Project: This is aimed at improving the skills and opportunities for young people in East Cambridgeshire and Fenland so they are better equipped to enter into jobs in the Creative Industries. This is in partnership with Festival Bridge, and is funded through the opportunity Area and the Take Your Place programme.
-
FHSE Building Connections Project: The income received within this fund is restricted to the purposes set out by the fund provider.
-
Jubilee Fund: The income received within this fund is restricted to the purposes set out by the fund provider.
-
Norfolk & Norwich Festival Bridge Project: The income received within this fund is restricted to the purposes set out by the fund provider.
- 23 -
ADEC (Arts Development In East Cambridgeshire) T/A Babylon Arts
Company Limited by Guarantee
Notes to the financial statements (continued)
Year ended 31 March 2024
20. Analysis of net assets between funds
As at 31 March 2024
| Unrestricted | Restricted | Total Funds | ||
|---|---|---|---|---|
| Funds | Funds | 2024 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 1,707 | – | 1,707 | |
| Current assets | 37,751 | 88,288 | 126,039 | |
|
|
|
||
| Net Assets | 39,458 | 88,288 | 127,746 | |
|
|
|
||
| As at 31 March 2023 | ||||
| Unrestricted | Restricted | Total Funds | ||
| Funds | Funds | 2023 | ||
| £ | £ | £ | ||
| Tangible fixed assets | 2,717 | – | 2,717 | |
| Current assets | 10,424 | 110,671 | 121,095 | |
|
|
|
||
| Net Assets | 13,141 | 110,671 | 123,812 | |
|
|
|
||
| 21. | Analysis of changes in net debt | |||
| At | ||||
| At 1 Apr 2023 | Cash flows | 31 Mar 2024 | ||
| £ | £ | £ | ||
| Cash at bank and in hand | 75,784 | 69,208 | 144,992 | |
|
|
|
||
| 22. | Operating lease commitments | |||
| The total future minimum lease payments under | non-cancellable operating leases are as follows: | |||
| 2024 | 2023 | |||
| £ | £ | |||
| Not later than 1 year | 15,000 | 15,000 | ||
| Later than 1 year and not later than 5 years | 36,250 | 51,250 | ||
|
|
|||
| 51,250 | 66,250 | |||
|
|
23. Related parties
During the year the charity paid P Harvey amounts for services totalling £391 (2023: £Nil). P Harvey is of relation to C Harvey, Trustee of the charity.
During the year the charity paid G Downey amounts for services totalling £Nil (2023: £585). G Downey is of relation to I Downey, Trustee and Company Secretary.
There were no other related party transactions in this or the prior year.
- 24 -