Registered company number: 3028442 Registered charity Number: 1046077 WALK THE PLANK Walk the Plank Report of the trustees and consolidated financial statements for the year ended 31 December 2024 Doc ID: d926ecd9e98ed7b6f2170930d1151 b8d051b1 bbg Walk the Plank Reference and administrative information for the year ended 31 December 2024 RegSstered company number 03028442 Registered charity number 1046077 Registered office and operatlonal address Cobden Works 37-41 Cobden Street Salford Greater Manchester M6 6WF Trustees The Trustees, who are also directors under company law, who served durine the year and up to the date of this report were as follows: N J Byrne ITreasurerl C Paul (Deputy Chairl S E Green Iresigned 4 September 241 LJ Naughton C Page T Adekoya (resigned 10 May 24} B Garcia (Chairl G W Higgins L Dees lappointed 18 September 20241 B F Klinger (appointed 30 April 20251 Company secretary C A Morrison Key Management Personnel C Morrison Execlstr've Director L Pugh Creative Producer and Co-fDurider J Was5ell Creative Producer and Co-founder Bankers National Westminster Bank PIC 68 Church Street Lancaster LAI ILN Doc ID: d926ecd9e98gd7b612170930d1151 b8d051b1 bb9 Walk the Plank Reference and administrative information for the year ended 31 December 2023 Sollcltors Counterculture Partnership LLP Unit 115 Ducie House 37 Ducle Street Manchester Ml 2JW Audltors BK Plus Audit Limited 52 St Johns Lane H alifax West Yorkshire HXI 2BW Doc ID- d926ecd9e98ed7b6f2170930d1151 b8d051b1 bb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 The trustees present their report and the audited financial statements for the year ended 31 December 2024. Included withln the trustees, report is the directors, report as required by cornpany law. Reference and administrative information set out on page I forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice Accounting and Reporting by Charitles" SORP applicable to charlties preparlng their accounts in accordance with FRS 102. Objectives and activities The trustees, who are also directors of the charlty for the purposes of the Companles Act 2006, present thelr report with the flnancial statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accountlng and Reportlng by Charities: statement of Recommended Practlce applicable to charities preparing thelr accounts Sn accordance wlth the Flnanclal Reportlng Standard appllcable in the UK and Republic of Ireland (FRS102) (effectlve l January 2015). Objectlves and Alms The principal objects for the Charity which were established as defined by the Memorandum and Article5 of Association are reproduced here.. To promote, maintain, Improve and advance education particularly by the encouragement of the arts of drama, mime, dance, slnging and music. To formulate a programme of activity of a charltable nature and therefore To co-operate wlth other charltable organlsations havlng slmilar objects and to establish, promote or assist such charitable organlsations. Our Strategic Alms Open up UK and international markets for exlsting and new work Build on our experience of working meaningfully with communities local to Salford and our cllents to develop reach and Impact in this area Nurture current ecology and workforce and the next generation of creatlve practitioners To be championed as an inter/natlonal leader in environmental sustainability and responsSbility in the outdoor arts, events, and flreworks sectors Be an actlve equitable, diverse, and Inclusive organlsatlon The trustees revlew the aims, objectlves and activlties of the charity each year. Thi5 report looks at what the charity has achieved and the outcomes of its work in the reporting period. The trustees report the success of each key activity and the beneflts the charlty has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the charity's aims, objectives and activitles remalned focused on Its stated purposes. Public Beneflt The trustees have referred to the guidance contained in the Charlty Comrnission's general guldance on public benefit when revlewing the charlty's aims and objectives and in planning Its future activitles. In partlcular, the trustees consSder how planned actlvities will contribute to the alms and objectlves that have been set. The work of the charity is predominantly free to the audience and most often designed for large audience numbers. This enables the organisation to present high quality outdoor arts, clvic celebrations and events to a hugely dlverse audience (age, cultural heritage, ethnicity, social demographic) through a considerable spectrum of "participatory art, co-created works and community engagement This also Doc ID- d926ecd9898ed7b6f2170930d1151b8d051 b1 bb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 locates the work that Walk the Plank does within the framework of the "audience development" agenda of both our core investors Arts Council England and partners the Audience Development Agencyi who both view this as essential in the creation of a diverse cultural ecology. The charlty's activities and beneficiaries are described below. All charitable activities focus on provision of artsi public performance and learning, and are undertaken to further Walk the Plank's charitable purposes for the public benefit. Achlevements and performance Havlng laid the foundations in 2023 for continued growth and recovery from a deficit position, we started 2024 wlth an improved work plpeline process and we have seen through the year prospects Increasing. We started 2024 with a new Head of Productlon, a new Senior Producer and a new Producer, all key positions In generatlng work, developing our customer reach and reputation, and in delivering work at our hlgh standards. The establlshment of addltlonal marcomms capacity has also notably improved our capacity to advocate and pursue opportunltles thls year. Desplte the backdrop of contlnued hlgh Inflatlon and a growlng cost of Ilvlng crlsls we made slgnlficant improvements to our forecasts for the year. Initial budgets predicted a deficlt of -£157,835, but our end of year outurn was a smaller deficit of -£48,785. Once again, this deficit can be absorbed by our reserves as we contlnue our trajectory from the challenges of 2019-2022 to a surplus position trajectory that was forecast In our last business plannlng exerclse for Arts Council for the 2022 fundlng round. After a long period of revlew, the Board took the decislon to close the Trading Subsldiary - Walk the Plank Fireworks, and the work to do this took place in the 2024 year. It ceased trading on 31/12124, and all actlvlty, assets and stock was successfully transferred to the Charity. This reflected the changed nature of the work delivered through the entity- very little activity outside our charitable objects such as commercial flreworks. The purpose of the Tradlng Sub was no longer belng served and closlng the entity will help to streamline our operations, clarify our messaging and reduce administratlve burden, Thls leaves us In a confldent position and we are pleased with the direction of travel. The volume of enqulrSes and conversatlons is Increasing, our presence Is good and we have produced some incredlble work over the year. Looklng forward we have a growing programme wlth momentum, with 2025 a year for refreshed buslness strategy and further growth. Beneficiaries of our services Taklng work to audiences In the public realm Is our primary function, through events, engagement and participatory activitles. Our work can mostly be accessed free of charge. We are commissioned by clients ranging from local authorities to festivals, responding to briefs to engage, amaze and inform. We are not dlrectly audlence facing as we act in partnership wlth commissioners, and so we provide a key support role In relation to their audience development aims and targets. However we are very much the face of the show, connecting wlth people to give them the best possible experience. Doc ID: d9268cd9&98gd7b6f2170930d1151b8d051 blbbg Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 We continue our work to develop the diversity of our workforce, audiencesi participants wherever possible, with an DEIB (Dlversity, Equity, Inclusion and Belonging) group that reviews our processes of engagement, diverse representation in our teams and audiences, and our content. Durlng 2024 we delivered 186 shows, an increase of 80 shows or 750/0 on 2023. The correspondlng Increase in turnover was £205k, indicatlng that many of these shows were smaller, or part of larger programmes containlng multiple shows. Average project value in 2024 was £40000, compared with £46500 in 2023. Through these shows we reached 500,655 live audlences, an increase of 261,155 or 109Wo. Of these shows, 62 were family-oriented, with audiences of 369,555, making thls our largest audience segment at 74 % of overall attendance. 172 - 910/0 - of all shows we delivered were completely free to attend, with 17 - 9 % _ requiring a paid tlcket, whlch ranged from local bonfire nights to large musSc festivals. Thls proportlon Is equal to last year. Here are some examples of our projects and our work: Dragon's Breath / Anadl Y Ddralg - Welsh Botanlcal Gardens Dragon's Breath was an immerslve after dark event experlence that merged flre, muslc, poetry and performance, set against the backdrop of one of Wales, most Iconic landmarks. A festlval of flre, folklore, fantasy and Welsh culture, Dragon's Breath Illumlnated the National 8otanlc Garden of Wales over four nlghts reaching audlences of over 12,000, Anlmatlng Ashlngton Event #l - Toy Processlon Thls UKSPF funded programme, commlssioned by Northumberland County Councll began at the end of 2024 wlth our Toy Procession marklng the beglnnlng of a serles of 10 events deslgned to create excltement, spertacle, engagement and pride in thls underserved Northumbrian town. The first event led to Sncreased footfall in the town of over 3000, and engaged local groups, chlldreni young people and familles. nk atin Halloween - Strolllng Bones In Lincoln and Nottingham A repeat show with Lincoln Clty Council, this choreographed parade of walklng loft skeletons with accompanying Fat Cat Brass Band were part of Lincoln's Halloween Events. Repeatable shows Ilke thls are a growing part of our programme and provide the ability to develop show5 - and skills - over tlme through working relatlonships with clients. htt w.walkthe ro ect e-stvo in Doc ID: d926ecd9098ed7b6f2170930d1151b8d051b1 bb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 Manchester Day 2024: Let the Games Begin! Celebrating an international summer of sport, Manchester Day: Let the Games Begln! brought together 423 performers and community members, captivating more than 50,000 spectators with 90 dynamic performances across the city. htt www Rochdale - Wlld Wanders and Ignlte Our Incredlble glant baby puppet was the centrepiece In thls Rochdale Project, deslgned to engage chlldren in conversatlons about the environment and a sustainable future. Nearly 4000 people explored our nighttlme nature trall, which offered families in Rochdale an incluslve, free, magical experience during the school holldays. It sparked conversations about our environment, and how we mlght bulld better guardlans for the future of natural spaces like Hollingworth Lake Country Park, where the event took place. Ignlte - a flre festival featuring our most recent klnetlc fire structures was also part of our 2024 work wlth Rochdale MBC, htt nk Wlrral Borough of Culture We brought our people powered Stephenson's Rocket along with Luke Jerram's 7m Gaia to the Wirral as part of thelr Borough of Culture celebratlons. wered-ro ket Mldsummer Mischlef - Bodo, Norway The first European Capltal of Culture above the Arctic Circle - we worked with the Bod0 24 team to create one of the festivals spectacle events - Midsummer Mischief. For thls outdoor celebration of Nordland's landscape and nautlcal heritage, told through firei games, song and human effort, we created an unusual structure: a beacon that was raised and burnt, sendlng a slgnal from the Arctlc, ht ww walk nk.co. ec midsummer- Our work throughout Salford continues - just through local engagement and projects but also as a member of numerous advisory and steering groups - supporting Salford Councll's cultural strategy, Salford Crescent's newly formed Committee, the steering group for 5alford's People and Places fund, and SCPP. Projetts and events throughout the year included Creative Explorers Canal, Middlewood Locks Fest, Swinton Sounds, and Burning Regrets. Doc ID= d926ecd9e98ed7b6f2170930d1151b8d051b1 bb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 Hldden Canal and Middlewood Locks Thls was an ambitious project that connected Salford artists with artists from our fellow Creatlve Embassles In Europe, including Faro, Rijeka, Leeuwarden, and Kaunas. Together they created a sound walk with audio exploring the heritage and history of the canal network in Salford and in some of the partner cities. The Hldden Canal project culminated in two days of sound walks and a canal slde nelghbourhood festlval at Middlewood Locks. ro Iv You can vlslt kthe for information about our work Ethlcs, diverslty and anti-slavery As a charltable organisation focused on broadenlng engagement In arts and culture with a wlde range of communities and art15ts, Walk the Plank champions ethical prattlce. We are commltted io being an organlsation that Is as dlverse as the audlences and cultures who experlence our work, and practice an open and accessible recruitment policy that actlvely Seeks to attract dlverse appllcants to roles ranglng from trustees, to staff, to placements. We operate a cross organlsation DEIB (Diversity, Equityi Inclusion, Belonging) steering group which oversees thls work, reports to board and dellvers an annual action plan. Our strategles In this area span recrultment, workplace conduct, team wellbeing, supporting speclal requirements, supportlve and protectlve company pollcy and procedure, antl-raclsmi good accessibillty practlce on projects, and ongolng development and review. We are a Dlsablllty Confident Employer, a member of the Real Llvlng Wage Foundatlon and a supporter of the Salford Nayor's Employment Charter. We publish an antiraclsm statement on our webslte. Eradicating modern slavery remains a contlnulng concern and we operate to an Antl-modern Slavery Policy whlch extends to how we query and check our supply chaln. Sustainability Sustalnabillty and sustainable practice are central plllars to our work, Including our base at Cobden Works and our approach to production worklng to the Green Events Code. We have a cross company sustainability worklng group whlch manages our published Sustainablllty Action Plan. We are mernbers of GMAST, the Manchester Arts Sustainability Team which is a collective of like-minded arts organisations commltted to working in a sustainable way by sharing resources, and eradicating waste. Future Plans Our development and growth plans will continue. In 2025-26 we will be growing the programme, and the team. We wlll be looking to expand our reputation through advocacy work both in the UK an internatlonally, with investment In these areas, and a focus on relationship development. Doc ID-. d926e¢d9e98ed7b6f2170930d1151b8d051b1 bb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 The next round of ACE funding has been pushed back to 2028 by the Arts Councll, however 2025 will see the development of our next business plan and the establishment of a new prloritSes framework whlch will help the company to evolve and thrive in ever evolving conditions. Particular attention will be pald to the balance of our work - between new commisslon5, repeatable shows and communlty work, wlth other options under consideration. We will be approaching new large Scale opportunities through tenders arnbltlously, to beneflt as much as we can from the momentum we currently have. Our co-founders will be reducing their capacity within the organisation as part of our long terms successlon strategy and so there will be some adjustments over the medium to long term to manage that. We wlll continue to find and develop new talent through our popular Emerglng Creatlves programme and other opportunities for paid internships and placements. New technologles are playing a growlng part in our operations, ranging from 3D prlntlng in our making process, digital tech to enhance immersive experiences through XR, and the use of AI currently to support admlnlstratlve efflclency. We contlnue to be connected to innovators and Innovatlon support to make the most of available tech in a way that enhances our work wlthout undermining the essential role of people, Including makers, artists and other creatlve. We have set ourselves a target to be a leader in good practice around DEIB, and towards the end of 2025 we expect to be publishlng content around this - Including blogs, reports and accounts of our progress and learnlng. We wlll be worklng to a revlsed and updated Sustalnabllity Action Plan and targets whlch we hope will help us to reach our target of Carbon Net Zero by the end of 2025. We have major projects to deliver in 2025 which include Ghost Train celebrating the 200 annlversary of the flrst passenger rallway journey in Stockton and Darlington, Anlmatlng Ashlngton multl event programme over 9 months funded by UKSPF and Northumberland County Council to bring cultural activlty to local resldents, attract visitors and increase footfall In the town centre, Manchester Day 25 which will see activlty In Manchester squares plus the return of the famous parade element, and many more Includlng a partnership with ENO, Energising Blyth, along with various fire gardens, Halloween events, flreworks shows and community projects. th Marketing of current work Marketing and Communication Overview 2024 was a year of strategic growth, improved processes, and high-quality delivery in Marketlng & Communications (Marcomms). We strengthened our capacity, developed new tools, supported a diverse programme of events, and enhanced our brand v15ibility across multiple channel5. Team Development & Capaclty Buildlng Introduced new recrultment processes for Emerging Creatives, attracting 142 applications and welcomlng two successful candidates in June. DOG ID- d926e￿9e98edYb6f2l7Og3odl15lb8dO51bl bb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 Promoted internal talent, with Tanica Powell to Senior Marketing Officer and Sarah du Toit to Head of Marketing. Expanded our placement programme through partnerships with the University of Salford, Unlverslty of Manchester and others, providing valuable experlence to students in photography, video production, and arts management. Strengthened Internal capacity wlth new proposal templates, event kick-off forms, and a central pricing guide to ensure consistent messaging and quoting. Cllent & Event Communicatlons We supported a wide range of events for cllents across the UK and internationallyi includlng: Manchester Day 2024 - delivered strong medla engagement, with a press call attractlng over 10 Journallsts and an additional 50,000 attendees to the clty. Anlmatlng Ashlngton (2024/2025)- led all communications for thls 10-event cultural regeneratlon programme, creating a full vlsual Identity, 20-page brochure, stakeholder klts, and promotlonal materials. Bod024 Mldsummer Mystery - collaborated wlth the internatlonal cllent to promote the major event, creatlng a compelling Making of film for ongolng use In our marketing Dragon's Breath, Wlld Wanders, Strolllng Bones, Flre Gardens In Preston & Sandwell, Glow, Manchester Halloween in the Clty, The Toy Parade / Elf Express, and Flre Garden, Festlval of Glass, Ignlte In Rochdale - supported the client to develop marketlng materlal, and managed press and crisis communications. Proposals, Tenders & Buslness Development Produced over 50 tailored proposals and tenders durlng the year, respondlng to dlverse briefs from local counclls, cultural organisations, and international festivals. Developed marketing assets for new offers such as Mechanical Marvels and refreshed the Fire Garden messaging for consistent client use. Attended key networking events, Includlng the Event Productlon Show to grow our natlonal and internatlonal profile. Advocacy & Sector Engagement Contributed to sector conversatlons through speaklng engagements at events including the UK Crowd Management Conference, AMA Inclusivlty & Audiences Day, and Green Creatlve Industrles Day. Published a three-part DEIB practice blog series on Culture Hive. Doc ID.. d926ecd9e98ed7b6f217D930d1151b8d051 b1bb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 Dlgital Marketing Performance Soclal Media Growth., Instagram: avg. 16k profile impresslons/month, 3-40/0 follower growth/quarter. o LinkedIn; avg. engagement rate 8-120h, IO% follower growthlyear. o Facebook: reach of 43-55k userslquarter. o Opted out of X (Twitter) paid analytics. maintained presence. E-New51etters: Maintained strong average open rate (N45_49 % ) with steady list growth and click-through rates between 3.7_60/0. Increased use of behlnd-the-scenes photography and video to enhance storytelling. Website In Q3 of 2023 a new website was implemented, which has contlnued to show sustained growth in the use of the webslte in 2024, and plays a major role in reaching B2B audiences. Metrlc 2023 2024 ear-on-year Change Events tracked 23,940 155,572 +549 % _ a dramatic increase Page vlews 9,930 72,670 +46¥0 - solid growth New users 16,330 22,173 +36 % ~ expandlng audlence verage engagement ime Im 075 58.7s Slight decrease (around 8 seconds less) Sessions per user 0.82 0.79 Slight drop (around 3.7Wo) Flle downloads 1,552 2,394 healthy increase Events recorded rose from just under 24,000 in 2023 to over 155,000 In 2024, a fivefold increase Page vlews grew by almost 50%, showing the site reached a wider audience. New users Increased by 36 % , suggesting more people are engaglng wlth the slte'5 Informatlonal content. File downloads rose by over 500/0, pointing to stronger interest In offer informatlon packs, and job packs provided on the site. Google Adwords Wlth guidance from the Digital Culture Network, we have refined our Google Ad Grant strategy in 2024 by creating new campaigns and improving existing ads. Despite the challenges of marketing in a niche sector, these efforts have helped us better target relevant audiences. io Doc ID.. d926ecdge98ed7b612170930d1151b8d051 b1bbg Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 Key Achievements Implemented new internal processes for more efficient, conslstent marketing delivery. Successfully managed complex event communlcatlons under adverse conditlons (e.g. Storm Bert/Darragh). Enhanced organisational vlslbility with features in sector publicatlons such as Stand Out Magazine. Concluslon The Marcomms team has delivered a year of measurable growth, improved efficiencyi and sector engagement, while supportlng a diverse programme of events and strengthenlng Walk the Plank's brand. Our work in 2024 has built solid foundations for further strategic development in 2025. Financial review Overview of the Financlal InformatSon In summaryl we are In a contlnuing upward trend but remaln In a deflcit posltlon as we rebuild our work pipeline whllst simultaneously adjusting to a tougher flnancial climate and pressures such as inflation and cost of Ilvlng crisls. We have enough reserves to handle thls and have done very well to reduce the deficit from forecasts for the last two years. Last year - 2023 - saw lower turnover, Investment in personnel, in marketlng. In assets and wlth the foremost priorlty being our marketing output as we improved awareness of our offer and actively sought opportunities. Thls year sees a growing turnover and better project contributlon, whlch has made a slgnlflcant dlfference to our bottom Ilne, The decision to close the Trading Subsidlary and consolidate actlvity and assets Into the one charltable entity also contributes positlvely to the year end position. The trading subsldiary's turnover was down £107k on the prevlous year to £144,947 (before income from loan write off of £21,014). None of thls income will be lost golng forward, as it is deliverable by the Charity without compromising the Charlty's objects, or without surpasslng the threshold for trading attivity. (Such assessments have been carrled out In detail by the Board and the executlve throughout the course of the year.) Total income was at £1,825,693, up from £1,622,609 In the previous year. Our'general charitable activities, saw an increase of £320k on 2023 following an improvement of £200k the year before - a good indication of the improvements we are working towards. Total expenditure by comparison is up to £1,875,796 against £1,758,461 in 2023, a signiflcant improvement on contrlbutlon levels and bottom line. li Doc ID.. d926ecd9e98ed7b6f2170930d1151 b8d051 blbb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 Salaried staff costs were £13k up on original forecasts with some movernent on pay following promotions. Deficlt was lower than forecast across the charity by £70k, despite turnover levels for the year falling below predlctions. This is down to closer budget management as part of our development strategy. Overheads (not including staff) were up £32,000 on forecasts (which were already adjusted for higher Inflatlon. ) In 2025 we anticipate a further increase in the levels of tumover with 700/0 of that confirmed. we are currently forecasting 2.6m, The company remalns financially stable thanks to good cash reserves. Even wlth the deficit at hand, we will go into 2025 with over £362,000 in free cash reserves. Investment pollcy and objectlves Under the memorandum and artlcles of associatlon the charlty has the power to make any Investment which the trustees see flt In accordance wlth our aims and objects. Charltie$ financlal Posltlon The Trustees belleve the current and future sources of funds and support available wlll be more than adequate to support the Charlty's needs and as such are operating on a golng concern basls. Reserves Pollcy The trustees have consldered how best to calculate target free reserves In accordance wlth the latest SORP guidance, as well as consldering advlce from our Auditors, The Business Management Team and general good buslness practice. The target level of free reserves Is based on the funds required to cover around four to slx months of resources expended, and specifically conslderlng the followlng three scenarios: l. To provide an adequate level of Working Capital for the general continuation of the business at Its current operating level. 2. To provide a buffer of funds In the case of a sudden unexpected loss of Charlty funds such as ACE fundlng. 3. To provlde funds to cover expenses that would still be incurred in the event of a partlal or complete shutdown of the Charity's Operations Trustees have agreed a target of free reserves of around £500,000, or whatever constitutes 6 months running costs of core overheads, plus a fund for emergency investment In assets or R&D of £50-80,000. Free Reserves held at 31st December 2024 are £362,907 Designated funds The purpose of thls fund Is to provlde an Identified investment fund from whlch Walk the Plank can make strategic investment decisions each year. These will range from commissioning artists and collaborators to make speciflc pieces of work, which should generate long term client bookings, property repair and investment in premises which are fit for purpose, to an R&D fund for technlcal and 12 Doc ID.. d926ecdge98ed7b6f2170930d1151 b8d051b1 bb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 creative experimentation. The fund should not be used to shore up our on-going business overhead budgets. Release of the funds will be through agreement of the Board of Trustees. Our desSgnated development fund now holds £53,000 in a designated Development Fund at the dlscretion of Trustees. Our Deslgnated Essentlal Property works fund now sits at £142,071. Reserves at 31 Dec 2024 The company currently holds total funds of £2,060,288. Restricted funds are zero and unrestrlcted funds £2,066,219. Unrestrlcted funds are made up of: Designated Property: Designated Equipment Designated Motor Vehicles Essential Property Works Fund: Designated Development Fund: Deslgnated Website Free Reserves,. £1,371,189 £113,339 £17,780 £142,071 £53,000 £0 £362,907 Charlty Reserves are represented by the followlng balance sheet totals: Fixed assets Investments Current assets Current liabllltles Long term liabilltles Total Charlty Funds £1,502,307 £0 £1,095,849 (£365,639) (£172,231) £2,060,288 Made up of: Total Restricted Funds Total Unrestricted Funds £0 £2,060,288 13 Doc ID= d926ecdge98ed7b6f2170930d1151b8d051b1 bb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 Structurei governance and management Governlng Document Walk the Plank Is a registered Charity and a Company Limited by guarantee. It is governed by Its nd Mernorandum and Articles of association dated 2 March 1995 and amended to allow for trustee's indemnity insurance on 21° August 2003. Appointment of New Trustees As set out In the Articles of Associatlon the trustees are appolnted at the Annual General MeetSng. The Board of trustees may also appoint a new trustee at the General Meeting to fill a casual vacancy. In these clrcumstances, the trustee so appolnted, holds office until the next Annual General Meetlng. The trustees have no beneficial interest in the Charlty and are not remunerated for any of the voluntary series they provide as trustees of the Charlty. Organlsatlon structure The Board of Trustees admlnisters the Charlty. The Board meets quarterlyi and sub-commlttees may be convened on a needs basis to assist with specific operational areas for example finance (Flnance Sub committee whlch also meets quarterly before the Board meeting). A Buslness Management Team (BMT) Is led by the Executlve Director C Morrison and the two Creative Producers and Co-Founders John Wassell and Llz Pugh who are appolnted by the Trustees to manage the day-to-day operatlons of the Charity. The wider BMT also includes Head of Production, Head of Marcornms and our third Senior Producer who are not board appointed, and who are managed by the board appolnted executlves. To facllltate effectlve operatlons the 8MT has delegated authority, wlthln the terms of delegatlon approved by the trustees, for operational matters includlng flnance, marketlngi sales, employment and the artistic programme of the Company. Key Management Personnel: Payment and remunerations Levels of pay and remuneratlon for key management personnel are agreed by Trustees. These levels are set against competitlve rates in the sector at comparable organisations taking average expected turnover Into account. They are researched through collation and comparison of rates for slmllar roles and verified by Trustees, with the aim to retain or attract the right level of staff for the roles in questlon. No employment beneflts are currently recelved by key management personnel beyond statutory pension contrlbutlons. Inductlon and tralnlng of new trustees New trustees are briefed on their legal obligations under charity and Company law, the contents of the Memorandum and ArtScles of Association, the operatlon and decision-maklng process of the Board, the business plan and recent financial performance of the Charity. Trustees are encouraged to experience at first hand the work of the charity and attend external training events to help them fulfil their role. Related Partles The charlty has been one of the Arts Council England regularly funded organlsatlons for 12 years and continues to receive fundlng under a 3-4 yearly agreement from Arts Councll England under the Natlonal Portfolio Organisation (NPO) scheme which began on I" April 2012. In 1998 the trustees of the charity established a wholly owned trading subsidiary, Walk the Plank Fireworks Limited, in order to deliver commercial activities (eg firework displays, special effects for private sector clients), which fall outside the charitable objects. 2024 will be the final year of operation 14 Doc ID: d926ecd9e98ed7b6f2170930d1151b8d051 b1 bb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 for the trading subsidiary which will be wound up to cease trading on 31" December 2024, as the original intent of its foundation was no longer met or necessary for the Charity. Any outstanding assets or liabilities wi15 be rolled into the Charity on this date. Rlgk Management The trustees have a duty to Identlfy and review the risks to which the charity is exposed and to ensure approprlate controls are in place to provide reasonable assurance against fraud and error. The board operates to a detailed Corporate Rlsk Analysis outlining our risks and the mitlgatlon we take agalnst them, including scorlng and actlons. For example, each risk identified includes the following, plus scoring based on Ilkellhood and impact Risk: The flnanclal support from external funders Zdentlfled Causes: Inablllty to secure or unsuccessful appllcatlons for funding such as ACE NPO resulting In loss of core revenue funding • Poor reporting for external funders and non-compliance with their reporting requirements Owner / Lead: Exec Dlrector Mltlgatlon: All funding bids driven by BMT and/or BPM with Marcomms Director • External Funders returns and statutory reporting requlrements monltored by ED and BMT Reportlng & Revlew: Report to BMT/F-BMT and Board Manager Report to ACE clo prompts from Grantlum and ACE Relatlonshlp Other examples include: Rlsk The strategy has slgnlficant negatlve varlance to results Mltlgatlon Detailed financlal model produced by BMT & FSC. Conslderable analysis of sales forecasts for current year and ongoing monitoring and reportlng Good financial procedures outlined In FPM. • Good Management Accounting Model Monthly reporting in a speciflc meetlng (Flnanclal Steerlng Group FSC Meeting). staff Capacity assessed frequently and reported. Staff capability good. Excellent high-level experience at oard level. Annual Audit of Financlal procedures through audit company The financlal health of the organlsation cashflow, management accounts, capacltyi etc are poor Missing our substantiality targets and strategic aims • Sustair)ability strategy/policy produced and a speciflc sustainability reporting group established. Excellent knowledge held at Senlor Management level (also champion). Business Management level involvement through 15 Doc ID-. d926ec¢J9e98ed7b6f2170930d1151 b8¢J051b1 bb9 Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 ED and light regulation from ACE through NPO and Julle's Bicycle Statement of responsibilities of the trustees The trustees (who are also directors of Walk the Plank for the purposes of company law) are responslble for preparing the trustees, annual report and the financial statements In accordance with applicable law and United Klngdom Accounting Standards (United Kingdorn Generally Accepted Accountlng Practlce). Company law requires the trustees to prepare financial statements for each financial year which give a true and falr view of the state of affalrs of the charitable group and of the Incoming resources and application of resources, including the income and expenditure, of the charltable group for that period, In preparing these flnancial statements, the trustees are required to: Select sultable accountlng policies and then apply them conslstently Observe the methods and prlnciples in the Charities SORP Make Judgements and estlmates that are reasonable and prudent State whether applicable UK Accountlng Standards and statements of recommended practice have been followed, subject to any material departure5 disclosed and explained in the financial statements Prepare the financlal statements on the golng concern basls unless it is inappropriate to presume that the charity will continue in operation The trustees are responsSble for keeping proper accountlng records that dlsclose wlth reasonable accuracy at any time the flnancial position of the charitable group and enable them to ensure that the financial statements comply wlth the Companies Act 2006. They are also responslble for safeguardlng the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other Irregularitles. In so far as the trustees are aware: There Is no relevant audlt information of which the charitable company's auditors are unaware The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audlt information and to establish that the auditors are aware of that Informatlon The trustees are responsible for the malntenance and Integrity of the corporate and financlal information Included on the charitable company's website. Legislatlon in the Unlted Kingdom governing the preparation and dlssemlnation of financial statements may differ from legislation In other jurlsdlctlons. 16 Doc ID: d926ecd9e98ed7b6f2170930d1151b8d051 blbbg Walk the Plank Trustees, Annual Report for the year ended 31 December 2024 Auditors Riley and Co were appointed as the charitable company'5 audltors In 2022, having audlted the company previously between 2009 and 2017. They became BK Plus from 2023 onwards. Thls report has been prepared In accordance with the provlslons applicable to companies subject to the small companies, regime of the Companies Act 2006. The trustees, annual report has been approved by the trustees on 25.1.o9.1.2Q15... and slgned on thelr behalf by Dr Beatrlz Garcla Chair of Trustees 17 Doc ID.. d926ecd9e98ed7b6f2170930d1151b8d051b1bb9 Walk the Plank INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF WALK THE PLANK Opinion We hdVQ uudited Ihe financial statements of Walk thc Plank (Ihe 'paront company'} and it's. subsidiaries (the 'Eroup'l for the yedr ei)ded 31 December 2024 ivhicli Lomprise ihe st4teTncnl of consulidiiled linancial aclivilics. the group balance shc¢l, Ilie comp3ny balance slieel, the groiip 5tatenient of Lxsl) tloivs and noles lo the financial slal¢nienls. inLluding signifi¢anl accounting policies. The firjaiicial reporting £ramework thill lias been applied in tlieir picparalion is appliLdble law and Uniled Kingdoin Accounlii)g Siundards, including 14iiiancial Reponiiig Standard 102 Tlic hiiiaiicial Ri'p(Ji'iipig,SiuiiddJ'd oi)plic(Ible iii ilit, UK anil ltepiililic cjf Ii'elfiiicl (Ui)iled Kingdoni Gcncrally Ac¢epled ALcouiiling Pra¢licc). In our opinion, Ihc IinanciHI stnlenienls.. giv¢ a tt'Lie and fair view OF the sltsic ol. Ihc group's and thc par¢iil company's alTairs as ai 31 D¢ccmber 2024 and ot Il)e groiips inconiing resoLirccs and application 0j-resou￿e5. incliiding 115 incoiiie and cxpendiliirc, for Ihe year then ¢ndcd' have been pi'upeily pr¢par¢d in dCCI)rdance willi United Kingdoni tie))erally Acc¢pt¢d AccoLinting Prdclice; and huve been pr¢pJred in aLcordaiice i¥iil) Ili¢ requirements of 111¢ Companics ACL 2006 and Charili&s Act 2011. Basis for npinion We condu¢te(l our Judit in accordynce with Intemalional Siandards on Auditin¥ (UlQl (ISAS (UK}} and applieablc lyw. OLir I'esponsibililies undcr tliosc standards are furth¢r d¢scrib¢d in Il)e Aiidiioi s i'e.¥poiisibiliiies [oi- Ilie aiidil (jl'fliefiiiaiicinl sl(71éiiienls seLlion of our repuri. We are ind¢penden¢ of Ilie group und paren( company in acLordan¢e willi IliL etliicdl requirLniLnls Ih4t are releviinl lo oiir audil of tlie finuncilll stnlemenls in Ihe UK. includiiig tlie F'RC'S EihiLal stand￿d, dnd we have fulfilled our c)Il)e eiliical r¢spoiibibilities in acLordaii¢e i¥iih Iliese requirem¢nis. We bLlicvc thal the audil evideii¢c Kvc have obiaincd is siiffi¢icnl aiid oppiupriatc to provide a basis for OLir opinion. Conelu%iiins relAling t(1 going concern In dudiling the financiJl stal¢m¢nls, wc have conclud¢d Ihal ihe iru¥lcc5' use ol. lh¢ goin8 concern basis ofaccounlinL iii Ilie pi'eparalion of Ihc linuncial statemcnls is approprial¢. Based on the work ive have perfurnied. we hai'e tjot idenlifie(l ai)y Inoterial iincenainlies relating to eY¢nls or coi)dilioi)g thal, individually or ¢ullcLtively, may ¢asl significant doubt un Ilie groups's Hnd the paTcnl'5 ability lo coiitinu¢ d5 0 going concern foi. a period uf al least livelvc niunihs fron) iylicti Il)e finaiiLi¥I bl'ilenienis are autliorised fui. its%u¢. Our respoiisibililies and tlie responsibililie¥ of the Iruslees wil11 r¢sp¢il lo going conLeni #re described iii the relevBnl 5¢¢110115 of Il)is r¢porl. Other informatiiin I'he oiher infoimdtion comprises tli¢ informalion iMclud¢d in the annual r¢porl oiher Ihdn ihe liiii>l)fldl statemeiit% ynd oiir audito￿S i'ei)Dil tli¢r¢on. Tlie trustee% ar¢ respDnsible fur tl)c oiher infunMali()n conl3incd witliiii ihe dnnual reyuffl. Oily opii)ion on lh¢ linancial slalcmcnl¥ dncs nol cover the other infornialion and, excepl (o ihe ¢xlenl oiheiivi5¢ ¢xpliciily slated in oui. report, wo do noi exi)rcs8 any fomi Dt. I15￿UranCe conclusion ih¢reon. OLI¥ responiibilily is lo read the oihcr informalion and. in doing so. ¢nnsider whether ihe other iiiforiiialion is 1]￿leriallY inconsislLnl Ivilh the financial sldtoni¢ntS OT niir knowlcdgc Ikb11c ined in Ihe couise o(Ilie audit. or oihenvi&e app¢ars to b¥ maleri£Trlly nii55taled. Ir we identity ¥(Ich malcrial Inconsislencics or iipparenl malerial missiateiiicnls. w¢ are reqiiiycd lo deterniinc whether thi3 gives I'I%L lo a material misstalcmrnl in the linancial stJtem¢nls ihenisclvc,4. Ir. bascd on Ihc work ive havc perlornied, wc conclu(Ic rhul the￿ is a material mi¥¥tat¢m¢nl of this olher infoTmalion, Ive arc rcquired lo report that fact. We have nothing lo report in Il)iS Tc¥ard. Opinions on other matters prc5crtbed by Ihe Companic5 Act 211116 In our opinion. b25cd on tlie work iindeitokcn iii Ilie coiirse of our aiidil.. thc infomidtioi) given ii) thc tru5tees' report for ihc financial year For ivhich the linancial slatemenls are prcpured, which includes th¢ dirertor5' ICPOrt prepared for the PUTPOSCS uf company law. is coiisistent with the financial 6tat¢Tncnls,' and tlie directors, report includ¢d within Ihe Irustees. repori Ilas been prepared in a¢cordallce willi applicabl¢ legal cciuirein¢LII5. 18- Walk the Plank INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WALKTHE PLANK Mallei's which ive aye requii'ed ti) repnj't by excepti￿ In tlie light of the kiiD%vledgc diid understai)ding ol'thc gioui) and Ihe I)?￿1)1 company and its envii'onmeiil obtained in the ¢ouiBe ofilie audit, we have not identified materidl i))isslateinent5 in thc dirccto1￿, repDri included witliin Ihc tiustcc$' rcpot1. We lidve noihiiig lo rcpiirt in rcspccl of the lollowing matlcrs in relatioii lo whiLlI IIIL Coinp&ni¢s AL'I 2006 requii'es lis lo rcpon to you if. iii OLII. opininn., ad¢qiiate accaunling I'ecords litsve bceii kept, or Tcttirns ad¢q113te for our audit have iiot bccn received Froin briild r¢asonably b¢ cxpcclcd lo influcncc Ilic ccon(Iniic decisiuns vf u.SCfK lak¢n nn Ilie basis ur Iliese financial sILIILmeiils. The ¢xl¢nl lo iyhich oui- pro¢¢dur¢5 arc ¢ap￿ble ofdclccliiig iryegulai'ilies, iiicludii18 frnud, is dclailcd b¢loiv. A fiirtlier d¢s¢riplion of vvr re$punsibililies is available uti ilie Finaiicial Rcponimg Coun¢il's websile al.. li(tps'.11 1vwiv.fri.org.uklaudilL)rsrespoiisibilities. This d¢sLI Iplivn fvn))s par( L)lour audilor's report. 19- Walk the Plallk INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE MEMBERS OF WALK THE PLANK Other matteri Our appro4¢h to identifying ass¢$sing the risks of mal¢Tial misstatement tn respect of irregularities, in¢luding fraud and non-compliance with laws and regulationg, w&$ a8 follows: The en¥agemenl partner ensured that the engagement team collectively bad th¢ fippropria￿ competence, capabilities d skills to identify or recognise non-eompliance with applicable laws and regulations., We identified the laws and regulations applicable lo the group through dis¢ussiolls with d1￿ClOr8 and other manageEnenl, and from our cotnmercial knowl¢dg¢ and experience of the illdusty Sector. We fo¢u5ed on specific laws atsd regulatiolls which we eonsidcred may bave a ditt¢t ni8tollal effect on the financial statements or the operations of the group. including the Companies Act 2006, taxation legislation ond dola protection, anli-brib¢ry. employment, environmental and health and safety le8islalion; We assessed the extent of compliance with the laws and regulations identified above through making ¢nquiri¢s of management and inspecting legal corYespondence- at)d Ensured laws and regulations were coDunuui¢&led within the audit t¢4m regularly and the team remained 81¢rt to instances of non-GompliAnce ¢hroughout the audil. We assessed the susceptibility of the group's financial statements to mat¢rial mtsstalement. in¢luding obtaining an understanding of how fraud Might occur. by.. Making enquiries of mAnagemcnt as to wher¢ th¢y considered ther¢ was a Susceptibility to fraud, their knowledge of Actual. 5uspecled And alleged fraud. Con$id¢ring the intern81 controls in place lo miligale risks of fraud And non-compliance with laivs and regul81ion8' and Underslandmg the design of th¢ group's remuneraiion policies. To address the risk of fraud through management bias and ove¥rEdc of Controls, we. Perfornied analytical procedures to identify any unujual or unexpected relalion5hips' Tesl¢d journal entries to identify unuSUAI transactions Assessed whether judgcments and 88$umpt7ons made in deterniining the accounting estimates set out in note 2 were indt¢lltiv¢ of potential bias. and Investigal¢d the rationale behind si8nific8nt or unusual transactions. In response lo the risk5 0fitregularili¢s and non-complianc¢ with lllws and regulations, we de$i8n¢d procedures which in¢luded, but were not limited to= A￿ceill8 f￿anCi￿ statement disclosur¢5 to Und￿lYIng sUPPOrtsn8 docum¢DIAtion' R¢ading the minutes of meetings of those charged with govern8n¢e' Enquiring of mana8ement 88 to actual and poteniilll litigalion and claims. and Reviewing cotrespondence with HMRC, relevallt regulators and the group's l¢gal advLSors. Th¢r¢ ur¢ inh¢rent Itrnitslions in our audil pnK¢dures described above. Th¢ more removed that laws and regtslations are from the financial transa¢lions. the legs Itkely it is that we would become awar¢ of non-complian¢¢. Auditing standards also limit the audit procedures required lo identify non-compliance with laws and regulations lo enquiry of the directors and other managernent and the inspection of regulatory and legal CQTr¢spondence, if any. Mgt¢ri?I mi85tatement8 that arise due to fraud can be harder to dete¢t than those that ari8e from error a$ they may involve deliberate concealtnent or collusion. 20- Walk the Plank INDEPENDEIYT AUDITORIS REPORT (CONTllYUED) TO THE MEMBERS OF WALK PLAIYK Use of our report This report is made solely lo ihe charitable group's members, as 8 body* in accordance with Chapier 3 of Part 16 of the Companies Act 2006. (hw 76udit work has been undertaken so that wc might stale io the charitsble group's members those matters we are required to state to them in an auditor's report and for no other purpos¢. To the fullest extent pernjitted by l&w. we do not accept or a5sum¢ r¢sponsibility lo anyon¢ oth¢r than the ch￿7¢able ￿0￿p and the Ch￿Itable group's members as a body. for our audit work, for this report, or for the opinions we have fornied. Vl¢torf4 A¢klnJon FCA (Senlor St•tutory Audltor) For and on b¢h4lf of BK Plus Audit Limited. Ststutory Auditor Chartered Certified Accountants 52 St Johns Lane Halifax West Yorksbtre HXI 2BW England Dr41e'. 21 Ln o cr) Ln ￿$ u) ¢ri ￿ ¢ Ln o rn cn Ln gJ m * Ln cr v Walk the Plank Company number 3028442 Group and Charity Balance Sheet as at 31 December 2024 The Group The Charity Note 2024 2023 2024 2023 Fixed assets Tangible assets Intangible fixed assets Investments Is 1.502,307 1,513,894 1,502,307 1,505,441 16 17 Total f ixed assets 1,502,307 1,513,894 1,502,309 1,505,443 Current assets Stock Debtors Cash at bank and in hand 136,695 307,958 651,196 ISS,179 449,256 5,899 136,695 307,958 651,196 573,451 538,163 Total current assets 1,095,849 1,160,334 1,095,849 1,111,614 Creditors.. amounts falling due in less than one year 21 (365,639) 1372,114} 1365,6391 1288,7611 Net current assets 730,210 788,220 730,210 822,853 Total assets less current liabilities Creditorg.. amounts falling due after more than one year 2,232,517 2,302,114 2,232,519 2,328,296 22 (172,2311 (193,0431 {172,2311 1192,5311 Net assets 2,060,286 2,109,071 2,060,288 2,135,765 Funds of the charity: Restricted income funds 23 Unrestricted income funds 24 2,060,286 2,109,071 2,060,288 2,135,765 Total charity funds 2,060,286 2,109,071 2,060,288 2,135,765 The notes on pages 25 to 43 form part of these account5. The financial statements were approved by the trustees and authorised for issue on signed on its behalf by., and were Dr. Beatriz Ga rcia, Chai r of Trustees Doc ID= d926e£d9￿9sedTrb6f217o930d11slb8dosIb1bb9 Walk the Plank Consolidated Statement of Cash Flows for the year ending 31 December 2024 Note 2024 2023 Cash provlded by/(used In} operatlng actlvitles 28 186,309 1401,$41J Cash t7ows from investtng acti¥ih'es.' Dividends, interest, and rent5 from investments Purchase of intangible fixed assets Purchase of tangible fi'xed assets 7,699 {82,2541 142,694J Cash provlded by/(used Inl Inve5tSng acilvltles (74,555) 134 794) Cash flows from financing activitses.. Repayment of borrowing 116.457) (J5,803J Cash provlded by/{used In) flnanclng actlvStfes (16,457) {15 803) Increase/ldecrea5el in cash and cash equiva lents in the year 95,297 1452,138) Cash and cash equivalents at the beginning of the year 555,899 1,008,037 Total cash equlvalents at the end of theyear 651,196 555,899 Net debt reconclllatlon Cash and cash equlvalents 8orrowln85 Total At l January 2024 555,899 {215,9341 339,965 Cash flow 95,297 16,457 111,754 At 31 December 2024 651.196 1199,477) 451,719 24 Doc ID- d926ecd9898ed7b6f2170930d1151 b8d051blbb9 Walk the Plank Notes to the accounts for the year ended 31 December 2024 Accounting pollcles The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows.. a Basss of preparation 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 Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021, the Companies Act 2006, and UK Genefally Accepted Accounting Practice. Walk the Plank meets the defi'nition of a public benefi't entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note. The financial statements are presented in sterlin8 which is the functional currency of the charity and rounded to the nearest £. b Group flnancial statements The Statement of Financial Activities ISOFAI and ba13nce sheet consolidate the financial statements of the charity and it5 subsidiary undertaking. The results of the subsidiary are consolidated on a l ine-by-line bas1S. The Charity has availed itself of Paragraph 3131 of Schedule 4 of the Companies Act 2006 and adapted the Companies Act formats to reflect the special nature of the Charity's activities. No separate SOFA or Income and Expenditure Account have been presented for the Charity alone as permitted by section 230 of the Companies Act 2006 and paragraph 327 of the SORP. c Preparatlon of the accounts on a 8olnB concern basls The trustees consider that there are no material uncertainties about the charitable company's ability to continue as 3 going concern. The Trustees have prepared forecasts of income and expenditure and cash flow for 12 months from authorising these financial statements, which shows that they have sufficient reserves to be able to continue for the foreseeable future. The Trustees therefore conts'nue to adopt the going concern basis of preparation for these financial statements. d Judgments and estlmates The trustees have made no key judgments which have a significant effect on the accounts. The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causin8 a material adjustment to the carrying amount of assets and l labilities within the next reports-ng period. 25 Doc ID.. d926ecd9e98ed7b6f2170930dl 151 b8d051b1 bb9 Walk the Plank Notes to the accounts for the year ended 31 December 2024 (continued) Income Income is recognised when the charity has entitlement to the funds, any performance condition5 attached to the itemlsl of income have been met, it is probable that the income will be received and the amount can be measured reliablv. Income from government and other grants, whether'capital, grants or'revenue, grants, is recognised when the charity has entitlement to the funds, any performance conditsons attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred. Income received in advance of a provision of a specifi'ed service is deferred until the criteria for income recognition are met. f Donated ser4lces and fac115tfes Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charitt'es SORP IFRS 1021, general volunteer tr'me Is not recognised,. please refer to the trustees, annual report for more information about their contribukn'on. On receipt, donated professional services and donated facillties are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilitie5 of equivalent economic benefit on the open market: a correspondin8 amount is then recognised n expend iture in the period of receipt. 8 Interest recelvable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the cha rity,. this Is normally upon notification of the interest paid or payable by the Bank, h Fund accouniing Unrestricted funds are available to spend on activities that further any of the purposes of charity. Designated funds are unrestricted funds of the charity which the trustees have declded at their discretion to set aside to use for a specific purpose. Restricted funds are donations which the donor has specifi'ed are to be solely used for particular areas of the charitvs work or for Specific projects being undertaken by the charity. 26 Doc10: d926ecd9898ed7b6f2170930d1151 bBd051b1bbg Walk the Plank Notes to the accounts for the year ended 31 December 2024 (continued) l Expendlture and Irrecoverable VAT Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds comprise the costs of commercial trading in Walk the Plank Fireworks Limited and the associated support costs. Expenditure on charitable activities includes the costs undertaken to further the purpose5 of the charity and their associated support costs. Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance. personnel, payroll and governance costs which 5UPPOrt the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable attbvities. The bases on which support C05t5 have been allocated are set out in note 9. k OperatlnB leases Operating leases are leases in which the title to the a55ets, and the risks and reward5 of ownership, remain with the lessor, Rental charBes are charged on a straight line basis over the term of the lease. l Tan8lble and Intanglble fixed assets Individual fixed assets costing over £500 are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis a5 follow5.. Freehold building Property improvements Rainford improvements Office fixtures and equipment Motor vehicles Software 100 years 25 years 10 years 3 to 10 years 5 years 3 years m Stock Stock is included at the lower of cost or net realisable value. In general, c05t is determined on a first in, first out basis. Net realisable value is the price at which stocks can be sold in the normal course of business after allowing for the costs of realisatr'on. Provision is made where necessary for obsolete, slow movinE, and defective stocks. Donated items of stock are recognised at fair value which 15 the amount the charity would have been willing to pay for the items on the open market. n Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayment5 ore valued at the amount prepaid net of any trade discounts due. 27 Doc ID: d926ecdge98ed7b6f2170930d1151b8d051b1bb9 Walk the Plank Notes to the accounts for the year ended 31 December 2024 Icontinuedl o Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid investment5 With a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. p Credltors and provlslons Creditors and provi5ion5 are recognised where the charity has a present obligation results'ng from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estrmated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. q Financlal Instruments The charity only has financial assets and financial liabilitie5 of a kind that qualify as baslc fi'nancial instruments. 8asic financial instruments are initially recognised at transactson value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. r Penslons Employees of the charity are entitled to join a defined contribution auto-enrolment scheme, The charity'5 contrlbution is restricted to the contributions disclosed in note 11. Outstanding contributions at the year end are included in note 21. The costs of the defi'ned contribution scheme are included within support and govern3 nce costs and allocated to the funds of the charity using the methodology set out in note 9. s Employee beneflts The cost of Short term employee benefits are reco8nised as a liability and as an expense. The cost of any unused holiday entitlement is recognised in the period in which the employee'5 services are received. LeEal status of the charlty The charity is a com pany limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address Is disclosed on page l. 28 Doc ID.. d926ecd9898ed7b6f2170930d1151 b8d051b1bbg Ui r vu wU< m Ln o Ln Wr£ u