**Charity registration number 1068736** **Company registration number 02143658 (England and Wales)** ## **Beavers Arts Limited** # **Annual Report and unaudited Financial Statements For the year ended 31 March 2024** ## **Beavers Arts Limited** ## **Legal and administrative information** |**Trustee**|Mr A A Ball| |---|---| ||Ms M Cooper| ||Mr B H McManus| ||Dr K Prince| ||Mr D Rennie| ||Ms A M A Scott| ||Mr S Walker| ||Mr F Ayanbadejo| ||Ms C Meadowcroft| |**Secretary**|Ms R Frankenberg| |**Charity number**|1068736| |**Company number**|02143658| |**Registered office**|The Glades| ||Festival Way| ||Festival Park| ||Stoke on Trent| ||Staffordshire| ||ST1 5SQ| |**Independent examiner**|DJH Business Advisers Limited| ||The Glades| ||Festival Way| ||Festival Park| ||Stoke-on-Trent| ||Staffordshire| ||ST1 5SQ| ## **Beavers Arts Limited** ## **Contents** ||**Page**| |---|---| |Trustee report|1 - 4| |Independent examiner's report|5| |Statement of financial activities|6| |Statement of financial position|7| |Notes to the financial statements|9 - 20| ## **Beavers Arts Limited** ## **Trustee report (including directors' report)** ## **For the year ended 31 March 2024** The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's constitution, the 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 (FRS 102)" (effective 1 January 2019). ## **Objectives and activities** ## _Public benefit_ The main objective of the Charity is to promote, maintain, improve and advance the education of the public in the arts, including increasing the availability of the arts to people. ## _Activities_ Beavers Arts Ltd (B arts) objects are to work creatively for change with individuals and communities by employing artists and creative professionals in work that is innovative, intelligent and meaningful and that leads to a process of greater cultural democracy. B arts delivers against these objects through a blended programme of projects and events. Some of these are delivered at No72, B arts base in Hartshill Road, Stoke-on-Trent, while others are presented in local community/ neighbourhood settings in North Staffordshire and occasionally internationally. The company continued to deliver well against its charitable objects of promoting and increasing the availability of the arts during the year 2023/24 despite continuing challenges in the wider cultural and public sectors including the increase in cost of living and rising inflation. B arts activities reached beneficiaries face to face and online, and had a positive impact on communities within Stoke on Trent, Newcastle under Lyme and North Staffordshire. In total the company worked with 4388 participants in co-created activities (all mixed ages including children here) of whom 948 attendees were at activity specifically for children and young people (aged 0- 19). B arts live events attracted 14,530 as audiences with an additional incidental audience of 18250 arising from people passing by/looking at 4 Blank Space visual art commissions presented on the outside of No.72. B arts work was supported by 56 volunteers and 14 internships who gained on the job training/ skills in hospitality, event management, administration and creative facilitation. Across 2023-24 B arts were working towards the departure of its Artistic & Executive Director, Susan Clarke, the last remaining founder of company, who had been with the organisation for approximately 38 years. The Trustees wish to offer Susan Clarke their thanks for the energy, commitment and hard work that she contributed, making B arts what it is today. B arts employed 7 permanent staff, 1 full time & 6 part-time and 86 contracted artists working with beneficiaries in the delivery of B-Arts co-created programme. A new Executive Director was appointed in December 2024. Within 2023-24 B arts continued to work across the following themes, which together form the company’s core activities. Highlights from each theme are mentioned: - 1 - ## **Beavers Arts Limited** ## **Trustee report (including directors' report) (continued) For the year ended 31 March 2024** ## **Neighbourhood** B arts led - The much-loved regular arts/ heritage and community festival, Etruria Canals Festival, attracted audiences of over 6,000 a day in June 2023 - Fegg Hayes Arts programme- continuing to engage with people in a socially isolated neighbourhood in the north of the city including a youth arts programme and co-created arts development offer and theatre show, Mysteries in the Valley R&D, including the formation of new community led ST6 Photography Group. - The creation of two new promenade shows celebrating less told heritage stories of Stoke; Duck Bills’ Great Railway Adventure in collaboration with North Staffordshire Community Rail and the National Literacy Trust and All Aboard the Knotty in collaboration with Stoke Train Station and Avanti West Coast. - Lantern processions in Newcastle-Under-Lyme, Kidsgrove, Stoke Town, Fegg Hayes and for Emma Bridgewater ## **Animate 72** - Ran regular Climate Cafés, an opportunity for local residents to take part in free family focused creative -activities that provide micro solutions to the environmental crisis - Worked with ArtsHill Performers and the wider creative community to run two Scratch Night events, and with Wrtie2Speak to run 6 spoken word workshops and events - B arts Studio – our onsite maker space, ran masterclasses and workshops in large scale sculptural lantern making, papercuts and prop-making ## **International Work** The company continued to work with partners beyond the UK, in particular taking part in Climate Theatre Camps in Germany and Spain, and continuing to support ‘Lumiere Sur La Ville’ lantern event in Aubervilliers. ## **Arts Development** - Launched a new podcast ARTCITY RADIO, platforming Stoke’s artists and cultural activists. - Worked with 4 new cohorts of New Producers supporting them to develop creative producing skills through planning and running their own micro-events. - Ran a B arts Summer School ## **Bread in Common** Bread in Common offered a “pay as you feel" café on Fridays and lunches from waste food for Climate Café Saturdays. B arts responded to the needs of local community; consolidating the level of Fareshare food donations received, to enable the company to offer free recovered food on a referral free basis. ## **Strategic** B arts continued to support the work of Stoke Creates, who aim to develop a strategic landing platform for regional, national and international resources. The company’s Executive Director is an observer on the board and B arts are part of a pilot programme led by Stoke Creates to test ideas for creating Cultural Action Zones across the city. B arts work focusses on the Stoke Town B arts has also continued to support the consortium that leads Outside, a new programme of engaged arts activities for residents of the Staffordshire Moorlands, with B arts Senior Creative Producer sitting on the board. B arts has continued to develop partnership relations with local uiniversities and education providers, continuing to: hold student placements for Keele University Medical Students and is partner in a collaborative theatre MA course delivered by Staffordshire University, involving mentoring and placements. - 2 - ## **Beavers Arts Limited** ## **Trustee report (including directors' report) (continued) For the year ended 31 March 2024** ## **Financial review** The Charity’s financial position is laid out in the balance sheet and financial statements. The total funds of the charity at 31 March 2024 are £139,700 (2023: £113,062) Reserves of £139,700 represent restricted funds of £9,933 comprising capital projects and unrestricted funds of £129,767 ## _Reserves policy_ The Trustees have power to invest and expend the funds of the Charity in such a manner, as they shall consider most beneficial for the achievement of the objects in accordance with the Articles of Association of the Charity. Reserves in this context constitute all funds held in cash, at the charity’s bankers, or in the form of other current, medium or long term investments, which form part of the Trust’s unrestricted funds available for expenditure on the Trust’s charitable purposes. The Board considers that it is desirable to hold a minimum of three months ’total operating expenditure in reserve, with the strategic aim of building reserves up to twelve months, in order to smooth the effect of any adverse fluctuations in income. The policy is reviewed annually by the Board, and reserve levels quarterly by the treasurer. ## _Major risks_ The Company operates a risk adverse policy in all areas of operation. Overall responsibility for identifying and managing risk rests with the Board. All major risks to which the charity is exposed have been reviewed and systems have been established to manage those risks. ## **Structure, governance and management** The Charity is a company limited by guarantee, not having a share capital under the Companies Acts 2006 (registration number 02143658) and is registered with the Charity Commissioners as a charity (registration number 1068736) under the Charities Act 2011 The Trustee, 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 were: Mr A A Ball Ms M Cooper Mr B H McManus Dr K Prince Mr D Rennie Ms A M A Scott Mr S Walker Ms K James Castle (Resigned 4 July 2024) Mr F Ayanbadejo Ms C Meadowcroft - 3 - ## **Beavers Arts Limited** ## **Trustee report (including directors' report) (continued) For the year ended 31 March 2024** ## _Recruitment and appointment of trustees_ As a matter of policy the Trust would normally expect to advertise for new trustees in both the local and national press to ensure that the most suitable candidates are selected for interview by the Board. In some cases the Board may become aware of someone with particular qualifications and may invite such a person to apply for Trusteeship. All new Trustees receive the Charity Commission’s booklet giving guidance on being a charity trustee as well as following a formal induction programme. In appropriate cases, by agreement with the Trustees and the applicant, a trustee designate may attend up to three trustee meetings before his/her appointment is confirmed. None of the Trustee has any beneficial interest in the company. All of the Trustee are members of the company and guarantee to contribute £1 in the event of a winding up. ## _Organisational structure_ Significant funding successes within this year include support for a multi-partner project funded by UK Shared Prosperity Fund, and support from Historic England to continue our High Street focused work. The Trustee report was approved by the Board of Trustee. Mr D Rennie ## **Chair** 13 December 2024 - 4 - ## **Beavers Arts Limited** ## **Independent examiner's report** ## **To the Trustee of Beavers Arts Limited** I report to the trustees on my examination of the financial statements of Beavers Arts Limited (the Charity) for the year ended 31 March 2024. ## **Responsibilities and basis of report** As the trustees of the Charity (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 Charity 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 the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable 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 Institute of Chartered Accountants in England and Wales, 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: - 1 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or - 2 the financial statements do not accord with those records; or - 3 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 - 4 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 financial statements to be reached. ## **DJH Business Advisers Limited** The Glades Festival Way Festival Park Stoke-on-Trent Staffordshire ST1 5SQ Dated: 13 December 2024 - 5 - ## **Beavers Arts Limited** ## **Statement of financial activities Including income and expenditure account** ## **For the year ended 31 March 2024** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and
legacies
**3**
247,714
216,549
Charitable activities
**4**
95,216
-
Investments
**5**
3,200
-
Other income
**6**
485
-
**Total income**
346,615
216,549
**Expenditure on:**
Raising funds
**7**
76,788
1,148
Charitable activities
**8**
240,958
217,699
**Total expenditure**
317,746
218,847
**Net income/(expenditure)**
**and movement in funds**
28,869
(2,298)
**Reconciliation of funds:**
Fund balances at 1 April
2023
100,831
12,231
**Fund balances at 31**
**March 2024**
129,700
9,933|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
464,263
2,941
329,417
95,216
73,866
-
3,200
262
-
485
261
-
563,164
77,330
329,417
77,936
55,384
1,574
458,657
32,124
338,205
536,593
87,508
339,779
26,571
(10,178)
(10,362)
113,062
111,009
22,593
139,633
100,831
12,231|**Total**
**2023**
**£**
332,358
73,866
262
261
406,747
56,958
370,329
427,287
(20,540)
133,602
113,062| |---|---|---| The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. - 6 - ## **Beavers Arts Limited** ## **Statement of financial position** ## **As at 31 March 2024** |||**2024**|||**2023**| |---|---|---|---|---|---| ||**Notes**|**£**|**£**|**£**|**£**| |**Fixed assets**|||||| |Tangible assets|**14**||17,000||21,273| |**Current assets**|||||| |Debtors|**15**|10,150||20,770|| |Cash at bank and in hand||279,286||310,304|| |||289,436||331,074|| |**Creditors: amounts falling due**|**16**||||| |**within one year**||(166,803)||(239,285)|| |**Net current assets**|||122,633||91,789| |**Total assets less current liabilities**|||139,633||113,062| |**The funds of the Charity**|||||| |Restricted income funds|**19**||9,933||12,231| |Unrestricted funds|**20**||129,700||100,831| ||||139,633||113,062| The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. 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. These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements were approved by the Trustee on 13 December 2024 Mr D Rennie ## **Chair** Company registration number 02143658 (England and Wales) - 7 - ## **Beavers Arts Limited** ## **Statement of cash flows** ## **For the year ended 31 March 2024** |**Notes**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**24**
**Investing activities**
Investment income received
**Net cash generated from investing**
**activities**
**Net cash used in financing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2024**
**£**
3,200|**£**
(34,218)
3,200
-
(31,018)
310,304
279,286|**2023**
**£**
**£**
110,760
262
262
-
111,022
199,282
310,304|**2023**
**£**
**£**
110,760
262
262
-
111,022
199,282
310,304| |---|---|---|---|---| |||||111,022
199,282| |||||310,304| - 8 - ## **Beavers Arts Limited** ## **Notes to the financial statements For the year ended 31 March 2024** ## **1 Accounting policies** ## **Charity information** Beavers Arts Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is The Glades Festival Way, Festival Park, Stoke on Trent, Staffordshire, United Kingdom, ST1 5SQ. ## **1.1 Accounting convention** Beavers Arts Limited is a company, limited by guarantee in the United Kingdom. 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 address of the registered office is given in the charity information above. The nature of the charity’s operations and principal activities are described in the Trustee’s Report. The financial statements have been prepared in accordance with the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows. The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £. ## **1.2 Going concern** At the time of approving the financial statements, the Trustee have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustee continue to adopt the going concern basis of accounting in preparing the financial statements. ## **1.3 Charitable funds** Unrestricted funds are available for use at the discretion of the Trustee in furtherance of their charitable objectives. Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements. Endowment funds are subject to specific conditions by donors that the capital must be maintained by the Charity. ## **1.4 Income** Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. - 9 - ## **Beavers Arts Limited** ## **Notes to the financial statements (continued) For the year ended 31 March 2024** ## **1 Accounting policies** **(Continued)** For donations to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled. Donated facilities and donated professional services are recognised in income at their fair value when their economic benefit is probable, it can be measured reliably and the charity has control over the item. Fair value is determined on the basis of the value of the gift to the charity. For example the amount the charity would be willing to pay in the open market for such facilities and services. A corresponding amount is recognised in expenditure. No amount is included in the financial statements for volunteer time in line with the SORP (FRS 102). Further detail is given in the Trustees’ Annual Report. Where practicable, gifts in kind donated for distribution to the beneficiaries of the charity are included in stock and donations in the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or if the costs to undertake such a valuation outweigh any benefits, then the fair value is recognised as a component of donations when it is distributed and an equivalent amount recognised as charitable expenditure. Gifts in kind donated for resale are included at fair value, being the expected proceeds from sale less the expected costs of sale. Where estimating the fair value is practicable upon receipt it is recognised in stock and ‘Income from other trading activities’. Upon sale, the value of the stock is charged against ‘Income from other trading activities’ and the proceeds are recognised as ‘Income from other trading activities’. Where it is impracticable to fair value the items due to the volume of low value items they are not recognised in the financial statements until they are sold. This income is recognised within ‘Income from other trading activities’. Fixed asset gifts in kind are recognised when receivable and are included at fair value. They are not deferred over the life of the asset. Income from charitable activities represents the provision of activities in furtherance of the charity’s objects. Investment income is earned through holding assets for investment purposes. It is included when the amount can be measured reliably. Interest income is recognised using the effective interest method. Other income represents those items not falling into the above categories. ## **1.5 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use. - 10 - ## **Beavers Arts Limited** ## **Notes to the financial statements (continued) For the year ended 31 March 2024** ## **1 Accounting policies** ## **(Continued)** ## **1.6 Tangible fixed assets** Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and equipment 10% per annum of net book value Fixtures and fittings 33% per annum of cost Motor vehicles 25% per annum of net book value The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. ## **1.7 Impairment of fixed assets** At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). ## **1.8 Cash and cash equivalents** Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. ## **1.9 Financial instruments** The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. ## _**Basic financial assets**_ Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. - 11 - ## **Beavers Arts Limited** ## **Notes to the financial statements (continued) For the year ended 31 March 2024** ## **1 Accounting policies** ## **(Continued)** ## _**Basic financial liabilities**_ Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. ## _**Derecognition of financial liabilities**_ Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled. ## **1.10 Employee benefits** The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received. Termination benefits are recognised immediately as an expense when the Charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits. ## **1.11 Retirement benefits** Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. ## **2 Critical accounting estimates and judgements** In the application of the Charity’s accounting policies, the Trustee are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. - 12 - ## **Beavers Arts Limited** ## **Notes to the financial statements (continued)** ## **For the year ended 31 March 2024** ## **3 Income from donations and legacies** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
Donations and gifts
2,202
-
Grants
245,512
216,549
247,714
216,549|**Total**
**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2024**
**2023**
**2023**
**2023**
**£**
**£**
**£**
**£**
2,202
2,941
-
2,941
462,061
-
329,417
329,417
464,263
2,941
329,417
332,358| |---|---| ## **4 Income from charitable activities** |||**Project**|
**Project**| |---|---|---|---| |||**work**|**work**| |||**2024**|**2023**| |||**£**|**£**| ||Project work|95,216|73,866| ||**Analysis by fund**||| ||Unrestricted funds|95,216|73,866| |**5**|**Income from investments**||| |||**Unrestricted**|**Unrestricted**| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||Interest receivable|3,200|262| |**6**|**Other income**||| |||**Unrestricted**|**Unrestricted**| |||**funds**|**funds**| |||**2024**|**2023**| |||**£**|**£**| ||Room hire|485|261| - 13 - ## **Beavers Arts Limited** ## **Notes to the financial statements (continued)** ## **For the year ended 31 March 2024** ## **7 Expenditure on raising funds** |**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2024**
**£**
**£**
**Fundraising and publicity**
Staff costs
19,927
-
Support costs
56,861
1,148
76,788
1,148|**Total**
**Unrestricted**
**Restricted**
**funds**
**funds**
**2024**
**2023**
**2023**
**£**
**£**
**£**
19,927
15,010
-
58,009
40,374
1,574
77,936
55,384
1,574|**Total**
**2023**
**£**
15,010
41,948| |---|---|---| |||56,958| ## **8 Expenditure on charitable activities** ||**Charitable**|**Charitable**| |---|---|---| ||**Activities**|**Activities**| ||**2024**|**2023**| ||**£**|**£**| |**Direct costs**||| |Staff costs|179,357|135,085| |Project expenses|213,810|185,152| ||393,167|320,237| |**Share of support and governance costs (see note 9)**||| |Support|37,143|31,284| |Governance|28,347|18,808| ||458,657|370,329| |**Analysis by fund**||| |Unrestricted funds|240,958|32,124| |Restricted funds|217,699|338,205| ||458,657|370,329| - 14 - ## **Beavers Arts Limited** ## **Notes to the financial statements (continued)** ## **For the year ended 31 March 2024** ## **9 Support costs allocated to activities** |Depreciation
Rent
Rates
Power, light and heat
Property, repairs and maintenance
Priniting and stationery
Motor running expenses
Legal and professional fees
Bank charges
Governance costs
**Analysed between:**
Fundraising
Charitable Activities
**Governance costs comprise:**
Legal and professional
Insurance
General expenses
**10**
**Net movement in funds**
The net movement in funds is stated after charging/(crediting):
Depreciation of owned tangible fixed assets
**11**
**Trustee**|**2024**
**£**
4,273
25,499
1,429
15,402
15,730
11,950
6,192
14,657
20
28,347
123,499
58,009
65,490
123,499
**2024**
**£**
14,657
5,604
8,086
28,347
**2024**
**£**
4,273|**2023**
**£**
5,210
25,193
2,712
14,320
10,687
4,437
2,195
8,446
32
18,808| |---|---|---| |||92,040| |||41,948
50,092| |||92,040| |||**2023**
**£**
12,231
4,994
1,583| |||18,808| |||**2023**
**£**
5,210| |||| None of the Trustee (or any persons connected with them) received any remuneration or benefits from the Charity during the year. - 15 - ## **Beavers Arts Limited** ## **Notes to the financial statements (continued)** ## **For the year ended 31 March 2024** ## **12 Employees** The average monthly number of employees during the year was: |**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2024**
**Number**
14
**2024**
**£**
184,084
12,177
3,023
199,284|**2023**
**Number**
11| |---|---|---| |||**2023**
**£**
138,837
8,479
2,779| |||150,095| There were no employees whose annual remuneration was more than £60,000. ## **Remuneration of key management personnel** The remuneration of key management personnel was as follows: ||**2024**|**2023**| |---|---|---| ||**£**|**£**| |Aggregate compensation|172,847|138,837| ## **13 Taxation** The charity is exempt from taxation on its activities because all its income is applied for charitable purposes. - 16 - ## **Beavers Arts Limited** ## **Notes to the financial statements (continued)** ## **For the year ended 31 March 2024** |**14**
**Tangible fixed assets**
**Plant and**
**equipment**
**Fixtures and**
**fittings**
**£**
**£**
**Cost**
At 1 April 2023
46,756
25,076
At 31 March 2024
46,756
25,076
**Depreciation and impairment**
At 1 April 2023
35,427
21,086
Depreciation charged in the year
1,132
1,652
At 31 March 2024
36,559
22,738
**Carrying amount**
At 31 March 2024
10,197
2,338
At 31 March 2023
11,329
3,990
**15**
**Debtors**
**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income
**16**
**Creditors: amounts falling due within one year**
**Notes**
Other taxation and social security
Deferred income
**17**
Trade creditors
Other creditors
Accruals
**17**
**Deferred income**
Other deferred income|| |---|---| - 17 - ## **Beavers Arts Limited** ## **Notes to the financial statements (continued)** ## **For the year ended 31 March 2024** |**17**
**Deferred income**
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 April 2023
Released from previous periods
Deferred income at 31 March 2024
**18**
**Retirement benefit schemes**
**Defined contribution schemes**
Charge to profit or loss in respect of defined contribution schemes|**(Continued)**
**2024**
**2023**
**£**
**£**
148,772
221,331
221,331
78,079
(72,559)
143,252
148,772
221,331
**2024**
**2023**
**£**
**£**
3,023
2,779|**(Continued)**
**2024**
**2023**
**£**
**£**
148,772
221,331
221,331
78,079
(72,559)
143,252
148,772
221,331
**2024**
**2023**
**£**
**£**
3,023
2,779| |---|---|---| |||78,079
143,252| |||221,331| |||**2023**
**£**
2,779| The Charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Charity in an independently administered fund. ## **19 Restricted funds** The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used. ||**At 1 April**|**At 1 April**|**Incoming**|**Resources**|**At 31 March**|**At 31 March**| |---|---|---|---|---|---|---| |||**2023**|**resources**|**expended**||**2024**| |||**£**|**£**|**£**||**£**| |Project work||-|216,549|(216,549)||-| |Minibus fund||3,701|-|(370)||3,331| |Computer equipment fund||2,575|-|(439)||2,136| |Car fund||5,955|-|(1,489)||4,466| |||12,231|216,549|(218,847)||9,933| |**Previous year:**|**At 1 April**||**Incoming**|**Resources**|**At 31 March**|| |||**2022**|**resources**|**expended**||**2023**| |||**£**|**£**|**£**||**£**| |Project work||22,593|329,417|(339,779)||12,231| - 18 - ## **Beavers Arts Limited** ## **Notes to the financial statements (continued) For the year ended 31 March 2024** ## **20 Unrestricted funds** The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes. ||**At 1 April**|**Incoming**|**Resources**|**At 31 March**| |---|---|---|---|---| ||**2023**|**resources**|**expended**|**2024**| ||**£**|**£**|**£**|**£**| |Contingency funds|50,000|-|-|50,000| |Redundancy funds|10,000|-|-|10,000| |Capital funds|20,000|-|-|20,000| |Other unrestricted funds|20,831|346,615|(317,746)|49,700| ||100,831|346,615|(317,746)|129,700| |**Previous year:**|**At 1 April**|**Incoming**|**Resources**|**At 31 March**| ||**2022**|**resources**|**expended**|**2023**| ||**£**|**£**|**£**|**£**| |General funds|111,009|77,330|(87,508)|100,831| |**Analysis of net assets between funds**||||| |||**Unrestricted**|**Restricted**|**Total**| |||**funds**|**funds**|| |||**2024**|**2024**|**2024**| |||**£**|**£**|**£**| |**At 31 March 2024:**||||| |Tangible assets||7,067|9,933|17,000| |Current assets/(liabilities)||122,633|-|122,633| |||129,700|9,933|139,633| |||**Unrestricted**|**Restricted**|**Total**| |||**funds**|**funds**|| |||**2023**|**2023**|**2023**| |||**£**|**£**|**£**| |**At 31 March 2023:**||||| |Tangible assets||9,042|12,231|21,273| |Current assets/(liabilities)||91,789|-|91,789| |||100,831|12,231|113,062| ## **21 Analysis of net assets between funds** - 19 - ## **Beavers Arts Limited** ## **Notes to the financial statements (continued)** ## **For the year ended 31 March 2024** ## **22 Operating lease commitments** ## **Lessee** ||**2024**|**2023**| |---|---|---| ||**£**|**£**| |Within one year|22,000|17,000| ## **23 Related party transactions** There were no disclosable related party transactions during the year (2023 - none). |**Cash generated from operations**
Surplus/(deficit) for the year
Adjustments for:
Investment income recognised in statement of financial activities
Depreciation and impairment of tangible fixed assets
Movements in working capital:
Decrease in debtors
Increase in creditors
(Decrease)/increase in deferred income
**Cash (absorbed by)/generated from operations**|**2024**
**£**
26,571
(3,200)
4,273
10,620
77
(72,559)
(34,218)|**2023**
**£**
(20,540)
(262)
5,210
190,911
17,954
143,252
336,525| |---|---|---| ## **24 Cash generated from operations** - 20 -