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← Fusion-Oxford's Community Arts Agency- Limited

2025-03-31-accounts

Company number: 02089425 Charity number: 1070805

Fusion Oxford’s Community Arts Agency Limited

Unaudited Report & Financial Statements

for the year ended

31 March 2025

Wenn Townsend

Chartered Accountants

Oxford

Fusion - Oxford’s Community Arts Agency Limited

Reference and Administrative Details of the Charity

for the year ended 31 March 2025

Status Fusion - Oxford’s Community Arts Agency Limited is a charitable Fusion - Oxford’s Community Arts Agency Limited is a charitable
company, limited by guarantee and registered as a charity.
Company Number 02089425
Charity Number 1070805
Operational Address Fusion - Oxford’s Community Arts Agency
15 Park End Street,
Oxford
OX1 1HH
(Temporarily Closed)
Fusion Arts Centre
East Oxford Community Centre
Princes Street
Oxford
OX4 1DD
Registered Address 30 St Giles’
Oxford,
United Kingdom
OX1 3LE
Trustees Roger McKenzie (Co-Chair – resigned Feb 2026)
Sally McKone (Treasurer)
Lisia Newmark
Regina Ndhlovu (Co-Chair and Chair)
Sarah Blair (Appointed March 2025)
Adam Thorndike (Appointed March 2025 – resigned Jan 2026)
Valentine Sithole (Appointed March 2025)
Vanessa Vogwill (Appointed March 2025)
Matilda McEvedy (Appointed June 2025)
Ines Smyth (Appointed June 2025)
Secretary Kieran Cox
Principal Bankers National Westminster Bank PLC
250 Bishopsgate
London
EC2M 4AA
Accountants Wenn Townsend
30 St Giles’
Oxford
OX1 3LE

Fusion Oxford’s Community Arts Agency Limited Trustees Annual Report For the year ended 31 March 2025

Structure, Governance and Management

The Trustees present their annual report and the financial statements for the year ended 31 March 2025.

Constitution and Organisation

Fusion - Oxford’s Community Arts Agency Limited (“Fusion”) is a registered Charity (number 1070805) governed by its Memorandum and Articles of Association and Company Limited by Guarantee (number 02089425). Its Board of Trustees governs the Charity.

Recruitment and Appointment of Trustees

The Directors of the charitable company (“the Charity”) are its Trustees: for the purpose of charity law and throughout this report they are collectively referred to as the Trustees and constitute its Members of Council.

Fusion’s constitution states that Board membership numbers should not be less than three with a quorum not less than one third or two Trustees, whichever is the greater.

During the year the Trustees carried out a targeted recruitment campaign, using social media and reaching out to connected organisations. Candidates then met with the Trustees and attended a Trustee Meeting as observers before a decision was made as to final appointment.

New Trustees are briefed on their obligations under charity law and company law and on the committee and decision-making process, safeguarding, policies, the business plan and the recent financial performance of the Charity. Trustees cannot personally benefit from Fusion whilst serving as a Trustee.

Risk Assessment

The Trustees recognise and accept their responsibility for ensuring that risks to which the Charity is exposed are reviewed and steps are taken to mitigate potential damage by the use of appropriate preventative controls and corrective actions. Trustees are aware of the Charities SORP issued in 2016 (FRS 102) and accept the requirement, in relation to all aspects of their work, for regular assessment of operating strengths and weaknesses. To this end, the risk management strategy comprises an annual review of the risks that the Charity may face; the establishment of systems and procedures to mitigate those risks identified; and the implementation of procedures designed to minimise any potential impact on the Charity should any of those risks materialise.

Objectives and Activities for the Public Benefit

Our aims are to:

  1. Foster and promote the improvement and development of artistic knowledge, understanding and appreciation of the arts, including the worlds of drama, dance, music, visual arts, crafts, films, videos, animation and literature for the benefit of the public and in particular community groups, young persons, older people and people with special needs.

2.Provide or assist in the provision of facilities for the arts, recreation and leisure time occupation with the objective of improving the conditions of life for such persons.

The Trustees have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission in exercising their powers and duties.

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Fusion Oxford’s Community Arts Agency Limited Trustees Annual Report For the year ended 31 March 2025 (continued)

Mission Statement

Fusion Arts is a catalyst for creativity in Oxford, and beyond. Since 1977 we have connected artists with communities, and inspired hundreds of bespoke creative projects.

Through the transformational power of the arts, we respond to challenging social circumstances by delivering meaningful, inclusive and innovative artistic experiences.

Fusion Arts Key Achievements 2024 – 2025

The twelve months to the end of March 2025 were a pivotal time for Fusion Arts. Our home and base for many years of the East Oxford Community Centre in East Oxford continued to undergo development, however we were able to extend our reach, working from new facilities.

These facilities include

These facilities have been supported through continued collaborating partners – Redevco, WorkMan Group, NewRiver REIT, Graduate Hotels – and through continued core funding from Oxford City Council and a number of Trusts and Foundations. Notably activity in many of these spaces was funded by partners and also Public Funding from National Lottery players via Arts Council England

During the year we have also worked with Nuffield College on a substantial collaboration to activate a significant space in Park End Street, which is currently vacant, and although needing some work will provide extensive gallery, studio and exhibition space, which has already been used for several key exhibitions during the year.

From these facilities we retained a close connection with partners across Oxford, including but was not limited to a number of networks of collective action and support: specifically Climate Justice and Racial Justice through our work with Green Arts Oxfordshire Network (GAON) & Oxford Cultural Anti-Racism Alliance (OCARA).

Fusion Arts continued to support the local economy through employment, creating long term and short term opportunities. Fusion Arts continued to support the local economy by working with local partners and suppliers. Fusion Arts continued to support the local economy by putting on events and exhibitions that ~~b~~ rought footfall and spend across multiple areas throughout the year.

Fusion Arts continued to fight injustice and advocate for social change. Fusion supported diverse partners and groups, communities and individuals with protected characteristics disadvantaged and disenfranchised by the wider society and experience, or at risk of, being discriminated against.

Fusion Arts continued to support the community providing opportunities for people to come together, learn, celebrate and share arts and culture.

Committed to social change Fusion Arts is a founding member of Oxfordshire’s Cultural Anti-

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Fusion Oxford’s Community Arts Agency Limited Trustees Annual Report For the year ended 31 March 2025 (continued)

Racism Alliance. Continuing the work from the prior year, Fusion Arts has administrational

responsibility – supporting this collaborative action across the local cultural sector. This work was supported by Arts Council England

Commitment to combatting climate emergency – Fusion co-founded and continues to run Oxfordshire Green Arts Charter & Network with the collaboration and support of additional partners and artists.

Key Projects, Events, Partnerships and Highlights 2024 - 2025

Story Makers

Story Makers is an acclaimed innovative multi-arts project designed and delivered in partnership with an integrative arts psychotherapist. Each year the project is funded by BBC Children In Need and delivered in partnership with a different Oxford museum and community collection.

We work with groups of 7-11 years old children with speech, language and communication needs to engage in creative arts practice to build skills, self-esteem, confidence and interpersonal relationships.

This year’s focus was on The Hope Collection in Museum of Natural History. The sessions offered a framework for engaging with insect evolution, their ecological significance and feelings and encompassed 12 weekly sessions, 6 local artists 10 Children and adults. The Collections of Hope Story Makers Learning Symposium took place at the Oxford Museum of Natural History Lecture Theatre, celebrating over a decade of Story Makers’ work fostering creativity, communication, identity, and learning in Oxford’s primary schools.

Oxford Writers Wheel Creative Writing Hub

An evolution from our multi year, successful Write On Project, this programme includes a Creative Writing programme which partners with young carers and children in care, offering a series of creative writing workshops with those aged 13-19 to develop skills and build confidence, self-esteem and friendships. Online and in person sessions offered participants the opportunity to explore and develop their creative writing skills over the course of six weeks through a variety of exploratory writing exercises, techniques, and discussions. Sessions are led by mentors from the Creative Writing MSt course at the University of Oxford. The mentors receive safeguarding and mentoring training. Feedback from partners and participants, report benefits including increased confidence in their writing ability and confidence speaking & sharing work in front of a group.

During the year this programme employed 3 writers and ran 4 workshops with over 80 participants.

Community Led Projects with the UK Shared Prosperity Fund

Working with the UK Shared Prosperity Fund, Fusion co-ordinated community led projects in Berinsfield and Didcot with the aim of engaging local residents with Art. These included

3

Fusion Oxford’s Community Arts Agency Limited Trustees Annual Report For the year ended 31 March 2025 (continued)

Across these projects we engaged with 10 artists and almost 500 residents including 5 different community groups.

Window Galleries

Innovative partnership with the Randolph Hotel by Graduate Hotels established in 2020 we created a new gallery space for the city.

The project connects and supports Oxford’s communities, creating a lively space for the public to experience inspiring work by local artists. Rejuvenating the area in this manner helps bring vibrance and intrigue to the otherwise empty windows that so many people pass by each day. During the year these exhibitions included

Oxford Cultural Anti-Racism Alliance

Created to respond to, and combat racism, through collaborative action Oxford Cultural AntiRacism Alliance was launched in 2020 and Fusion was one of the many signatories of the Alliance's manifesto.

The aim of the Alliance is to get organisations in Oxford's arts and cultural sector to commit individually and collectively to dismantling systematic racism within the sector and across wider society.

By signing the manifesto, Fusion has committed to radical and lasting cultural change, taking an active anti-racist stance and ensuring that there is meaningful representation of people from the Global Majority across Oxford's cultural sector.

Fusion Arts still leads alongside other cultural partners as a founding member of the Steering Committee

Green Arts Oxfordshire Network

We have supported and led on the establishment of the Green Arts Oxfordshire Network in collaboration with Tandem Collective since 2020. The network is designed to help catalyse environmentally friendly actions amongst Oxfordshire artists and cultural organisations and charter our collective commitment to environmental justice.

GAON has established a Carbon Literacy Training programme specifically tailored to Oxfordshire and artists and cultural organsiations. This training programme is accredited by the Carbon Literacy Project and trained 149 people during the year.

During the year Fusion supported several projects and exhibitions as well as taking part in Great Big Green Week. These included

Supporting Community through Creating Spaces & Place Making

4

Fusion Oxford’s Community Arts Agency Limited Trustees Annual Report For the year ended 31 March 2025 (continued)

Artist residencies, studios, galleries, venues, workshop, rehearsal, and community spaces.

Building on conversations with partners and landlords Fusion Arts established a number of “meaningful, meanwhile use” opportunities, developing spaces for artists and communities to make, show, create and experience the arts together.

During the year these exhibitions included

Financial Review

Reserves

The Board continues to closely monitor the funding position of the organisation to adjust and take decisions appropriately.

Application of reserves: The Board intends that the reserve is established and preserved as a fund to ensure business continuity in the event of a temporary funding shortfall or an ultimate decision to wind up operations, requiring a close-down period. However, the Board considers the following applications to be valid uses of funds placed in the reserve over and above the base level of three months’ operating funds.

  1. Business Support: core support to the business designed to advance its activities or strengthen its resources including funding of additional resources, human or material.

  2. Development funds: small allocations to permit development of new initiatives in the absence of other developmental funds being secured.

  3. Stability reserve: further building of the base reserve level, considering inflationary pressures on budget and/or the impact of increased staffing or other costs on the three-month operating costs reserve level.

In the case of uses being proposed under the first two items the Board will receive, in advance of any commitment being entered, a costed proposal for consideration, along with indication of method and timing of restoration of any temporary depletion of the base Reserves level.

In the case of use under the third option the Board will be advised by the Director, in

5

Fusion Oxford’s Community Arts Agency Limited Trustees Annual Report For the year ended 31 March 2025 (continued)

consultation with the Treasurer, of any amounts drawn down for business continuity purposes, the underlying reasons for this and the plans for restoration of the reserves to the established level.

The reserves value held by the charity stands at £93,652.

Future Plans

In line with Fusion Art’s Business, Development and Funding Plans, Fusion intends to collaborate and work in partnership with multiple diverse communities and organisations to increase access to the arts and improve lives through opportunity to take part in creative practice.

We have developed skills and expertise regarding activation of vacant and underused spaces and have plans to expand and develop our meaningful temporary spaces and popups to increase access to the arts and opportunities for artists and communities through provision of studios, exhibition and rehearsal spaces whilst also increasing support for local artists through innovative artist residencies and employment.

We will continue to expand and deliver meaningful collaborations in public spaces through Public Art and Community Arts interventions. We will build on our experience and collaborations to offer more opportunities for communities to come together. We will continue to iterate and develop programmes of work and projects – such as DEPOT art fair, Story Makers, GAON etc. for the benefit of individuals and the community. Taking a systems based approach to using creativity for social change & justice in a meaningful way for all.

With the addition of new facilities and partners Fusion Arts is developing a new business plan and organisational structure. This will include the ability to operate from a refreshed base from the East Oxford Community Centre, once redeveloped, increasing new opportunities to develop and enhance its outputs and engage with more communities.

Directors

The following persons served as directors throughout the year unless other wise stated. They are also trustees under charity law, constitute the Members of Council and have no beneficial interest in the charitable company.

Roger McKenzie (Co-Chair – resigned Feb 2026) Sally McKone (Treasurer) Lisia Newmark Regina Ndhlovu (Co-Chair and Chair) Sarah Blair (Appointed March 2025) Adam Thorndike (Appointed March 2025 – resigned Jan 2026) Valentine Sithole (Appointed March 2025) Vanessa Vogwill (Appointed March 2025) Matilda McEvedy (Appointed June 2025) Ines Smyth (Appointed June 2025)

The Members of Council guarantee to contribute an amount not exceeding £1 to the assets of the charitable company in the event of winding up. The total amounts of such guarantees at 31 March 2025 was £8 (2024: £4)

Regina Ndhlovu

Chair

Rndhlovu

……………………2026

6

Fusion Oxford’s Community Arts Agency Limited

Independent Examiner's Report to the Trustees of Fusion Oxford’s Community Arts Agency Limited

I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025 which are set out on pages 8 to 16.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

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 company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts 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 accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr Anthony Haines BSc FCA Partner Wenn Townsend, Chartered Accountants Oxford

13th March …………………… 2026

7

Fusion Oxford’s Community Arts Agency Limited Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the year ended 31 March 2025

Note Unrestricted Restricted 2025 Unrestricted Restricted 2024
Funds Funds Total Funds Funds Total
£ £ £ £ £ £
INCOME AND ENDOWMENTS FROM
Incoming resources from generated funds:
Donations, legacies and grants 234,929 110,493 345,422 56,621 50,109 106,730
Income from charitable activities:
- Project income 15,285 19,075 34,360 5,137 42,000 47,137
- Programme income 11,598 2,350 13,948 30,385 23,770 54,155
- Sundry income 390 - 390 9,402 - 9,402
────── ────── ────── ────── ────── ──────
TOTAL INCOME AND ENDOWMENTS 2 262,202 131,918 394,120 101,545 115,879 217,424
══════ ══════ ══════ ══════ ══════ ══════
EXPENDITURE ON
Charitable activities 3 145,030 110,386 255,416 72,552 53,187 125,732
Support and governance costs 3 96,885 1,182 98,067 54,914 1,346 56,260
────── ────── ────── ────── ────── ──────
TOTAL RESOURCES EXPENDED 241,915 111,568 353,483 127,466 54,533 181,999
══════ ══════ ══════ ══════ ══════ ══════
Net resources expended 4 20,287 20,350 40,637 (25,921) 61,346 35,425
Transfers between funds 30,055 (30,055) - 15,104 (15,104) -
────── ────── ────── ────── ────── ──────
Net movement in funds 50,342 (9,705) 40,637 (10,817) 46,242 35,425
Funds at 1 April 2024 10,225 42,790 53,015 21,042 (3,452) 17,590
────── ────── ────── ────── ────── ──────
Funds at 31 March 2025 11 60,567 33,085 93,652 10,225 42,790 53,015
══════ ══════ ══════ ══════ ══════ ══════

Included within unrestricted funds at 31 March 2025 is £nil (2024: £nil) relating to designated funds and £60,567 (2024: £10,225) general funds. All income and expenditure derive from continuing activities. The statement of financial activities includes all gains and losses recognised during the year.

The notes on pages 10 to 16 form part of these financial statements.

8

Fusion Oxford’s Community Arts Agency Limited

Balance Sheet as at 31 March 2025

Note 2025 2024
£ £
Fixed assets
Tangible fixed assets 7 11,170 1,314
Current assets
Debtors 8 122,562 20,126
Cash at bank and in hand 44,890 61,004
────── ────── ──────
167,452 81,130
Creditors: amounts falling due
within one year 9 (84,970) (29,429)
────── ────── ──────
Net current assets 82,482 51,701
────── ──────
Net assets 10 93,652 53,015
═════ ═════
Funds
Unrestricted funds 11 60,567 10,225
Restricted funds 11 33,085 42,790
────── ──────
93,652 53,015
═════ ═════

The directors are satisfied that the company was entitled to exemption section 477 of the Companies Act 2006 and that members have not required an audit in accordance with section 476.

The directors acknowledge their responsibilities for:

The financial statements are prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) and with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board on 29 January 2026 and signed on its behalf by

Rh Ndhbove

Regina Ndhlovu Chair

Company number: 02089425

The notes on pages 10 to 16 form part of these financial statements

9

Fusion Oxford’s Community Arts Agency Limited

Notes to the Financial Statements for the year ended 31 March 2025

1. Accounting Policies

Basis of Preparation

The financial statements have been prepared in accordance with the Companies Act 2006, the Charities Act 2011, the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective October 2019) (Charity SORP FRS 102) and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). The charity meets the definition of a public benefit entity under FRS 102.

The trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.

Incoming resources

Voluntary income received by way of donations and grants to the charity is included in full in the statement of financial activities when receivable, receipt is reasonably certain, and the amount can be quantified with reasonable accuracy.

Income from legacies is accounted for on a receivable basis, and is recognised in full in the statement of financial activities in the period in which receipt becomes certain.

All other discretionary income is recognised on a receivable basis in the statement of financial activities.

Income generated from the supply of services is included in the statement of financial activities in the period in which the supply is made.

All of the income generated in the year has been derived from activities wholly undertaken in the UK.

Fund accounting

Unrestricted funds are built up from incoming resources received or generated for the charitable purpose. They are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity.

Designated funds are funds set aside out of unrestricted funds by the Council and applied towards specific purposes as identified by the Council.

Restricted funds are funds used for specified purposes as laid down by the donor. Expenditure meeting the criteria is charged against the fund, together with a fair allocation of overheads and support costs.

Resources expended

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Where costs cannot be directly attributed to particular headings, they have been allocated to activities on a basis consistent with the use of those resources.

Governance costs are those incurred in connection with the administration of the charity regarding compliance with constitutional and statutory requirements.

10

Fusion Oxford’s Community Arts Agency Limited

Notes to the Financial Statements for the year ended 31 March 2025 (continued)

1. Accounting Policies (continued)

Resources expended (continued)

Staff costs and overhead expenses are allocated to activities on the basis of staff time spent on those activities.

Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the Charity to the expenditure.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided on fixed assets using the following annual rates in order to write off each asset over its anticipated useful life.

Plant and machinery 33% reducing balance Computer equipment 33% reducing balance Fixtures and fittings 33% reducing balance

2. Income

In the opinion of the trustees, none of the income of the company is attributable to geographical markets outside the UK (2024: none).

3. Charitable expenditure

Furthering Support Governance 2025 2024
Charity Costs Costs Total Total
£ £ £ £ £
Wages and salaries 46,771 23,385 - 70,156 81,987
Project costs 164,223 - - 164,223 66,595
Travel and subsistence 987 - - 987 410
Office and workshop - 76,598 - 76,598 12,434
Telephone costs - 2,817 - 2,817 456
Printing, postage and stationery 1,234 1,312 - 2,546 1,733
Advertising and publicity - - - - 845
Training and subscriptions 1,331 - - 1,331 1,691
Insurance - 11,602 - 11,602 3,573
Accountancy fees - 6,497 2,490 8,987 10,200
Sundry expenses 2,414 8,110 - 10,524 350
Depreciation - 2,336 - 2,336 683
Recruitment - - - - -
Website - 1,376 - 1,376 1,002
Legal fees - - - - 40
────── ──────
──────		 ────── ──────
216,960 134,033 2,490 353,483 181,999
═════ ═════ ═════ ═════ ═════

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Fusion Oxford’s Community Arts Agency Limited

Notes to the Financial Statements for the year ended 31 March 2025 (continued)

4. Net (resources expended) / incoming resources for the year

2025 2024
£ £
This is stated after charging:
Independent examiner’s fee 2,490 3,000
Depreciation 2,336 683
═════ ═════
5. Staff costs and numbers
2025 2024
£ £
Salaries and wages - gross 68,574 80,203
Pension 1,582 1,784
───── ─────
70,156 81,987
═════ ═════

The average weekly number of employees (full-time equivalent) during the year was as follows:

Direct charitable activities 2 2
Management and administration 1 1
───── ─────
Total employed staff 3 3
Freelance staff 9 4
───── ─────
Total staff 12 7
═════ ═════

No employee received emoluments in excess of £60,000 per annum for either 2025 or 2024.

In addition to employed staff, many freelance staff also support the charity on an ad hoc basis. The full time equivalent of these staff is estimated above.

The Trustees of the charity, who are also the key management personnel, received no remuneration during the year (2024: £nil).

No Trustees had expenses reimbursed by the charity (2024: £nil).

6. Taxation

The charity is not in receipt of income chargeable to taxation. All of its income is applied for charitable purposes.

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Fusion Oxford’s Community Arts Agency Limited

Notes to the Financial Statements

for the year ended 31 March 2025 (continued)

7. Tangible fixed assets
Plant & Fixtures & Computer Total
machinery fittings equipment
£ £ £ £
Cost
At 1 April 2024 4,804 1,123 22,955 28,882
Additions 11,811 - 439 12,250
Disposals - - (1,168) (1,168)
────── ────── ────── ──────
At 31 March 2025 16,615 1,123 22,226 39,964
══════ ══════ ══════ ══════
Depreciation
At 1 April 2024 4,761 1,123 21,684 27,568
Charge for the year 1,785 - 551 2,336
Depreciation on disposals - - (1,110) (1,110)
────── ────── ────── ──────
At 31 March 2025 6,546 1,123 21,125 28,797
══════ ══════ ══════ ══════
Net book values
At 31 March 2025 10,069 - 1,101 11,170
══════ ══════ ══════ ══════
At 31 March 2024 43 - 1,271 1,314
══════ ══════ ══════ ══════
8. Debtors
2025 2024
£ £
Trade debtors 19,781 15,179
Prepayments 30,295 4,947
Other Debtors 72,486 -
────── ──────
122,562 20,126
══════ ══════
9. Creditors: amounts falling due within one year
2025 2024
£ £
Trade creditors 70,957 12,251
Taxes and social security 8,780 7,728
Accruals and deferred income 2,490 3,750
Other creditors 2,743 5,700
────── ──────
84,970 29,429
══════ ══════

13

Fusion Oxford’s Community Arts Agency Limited

Notes to the Financial Statements

for the year ended 31 March 2025 (continued)

10. Analysis of net assets between funds

2025 Designated General Restricted 2025
Fund Fund Funds Total
£ £ £ £
Tangible fixed assets - 10,670 - 10,670
Current assets - 134,867 33,085 167,952
Current liabilities - (84,970) - (84,970)
────── ────── ────── ──────
Net Assets at 31 March 2025 - 60567 33,085 93,652
══════ ══════ ══════ ══════
2024 Designated General Restricted 2024
Fund Fund Funds Total
£ £ £ £
Tangible fixed assets - 1,314 - 1,314
Current assets - 38,340 42,790 81,130
Current liabilities - (29,429) - (29,429)
────── ────── ────── ──────
Net Assets at 31 March 2024 - 10,225 42,790 53,015
══════ ══════ ══════ ══════

14

11. Movement in funds 2025

Movement in funds 2025
Opening Incoming Outgoing Closing
balance Resources Resources Transfer balance
£ £ £ £ £
Restricted Funds:
Connections Through Culture 3,058 2,000 (3,755) (1,303) -
Creative Writing Hub (320) 25,578 (25,885) - (627)
UKSPF Berinsfield /Garden Towns 13,274 19,000 (19,154) (10,587) 2,533
OCARA 14,845 22,130 (26,389) (1,100) 9,486
Story Makers 3 and 3.2 20,985 5,983 (9,903) (17,065) -
Street Arts – Rose Hill 500 - - - 500
Green Arts Oxfordshire Network
(9,552)		 18,833 (9,472) (191)
Revitalising PES - 26,204 (17, 010) - 9,194
Well Together - 12,190 12,190
────── ────── ────── ────── ──────
42,790 131,918 (111,568) (30,055) 33,085
Unrestricted Funds
General 10,225 262,202 (241,915) 30,055 60,567
Designated - - - - -
────── ────── ────── ────── ──────
Total Funds 53,015 394,120 (353,483) - 93,652
══════ ══════ ══════ ══════ ═════

Transfers relate to overspends on some restricted projects being covered by unrestricted income, management fees and apportionments of overheads. Additionally, some relate to closure of the specific restricted funds and recognition of the costs previously having been absorbed by the general fund.

Restricted funds

12. Movement in funds 2024

Movement in funds 2024 Movement in funds 2024
Opening Incoming Outgoing Closing
balance Resources Resources Transfer balance
£ £ £ £ £
Restricted Funds:
CLF23 - 1,230 (1,838) 608 -
Connections Through Culture - 8,000 (3,942) (1000) 3,058
Creative Writing Hub - - (320) - (320)
UKSPF Berinsfield /Garden Towns
-		 32,000 (10,826) (7,900) 13,274
OCARA - 18,000 (2,755) (400) 14,845
OCEP Mural 3,250 - (2,900) (350) -
SLDM 22 - - (395) 395 -
Story Makers 3 and 3.2 14,546 23,933 (14,180) (3,314) 20,985
Street Arts – Rose Hill 500 - - - 500
WriteOn 447 - (342) (105) -
Green Arts (23,148) 32,716 (17,035) (2,085) (9,552)
Wetlands 953 - - (953)
────── ────── ────── ────── ──────
(3,452) 115,879 (54,533) (15,104) 42,790
Unrestricted Funds
General 21,042 101,545 (127,466) 15,104 10,225
Designated - - - -
────── ────── ────── ────── ──────
Total Funds 17,590 217,424 (181,999) - 53,015
══════ ══════ ══════ ══════ ═════

12. Related parties

There were no related party transactions in the current or preceding year.