Charity registration number 1071762
Company registration number 03562299 (England and Wales)
DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr R Kirk
Ms L Howard
Mr J Levontine
Ms K Brooks
Ms A Devoy
Ms E Perryman
Mr D Harding-Brown
Ms A Lloyd
Mr I Wood
(Appointed 6 February 20241
(Appointed 14 November 20231
(Appointed 6 February 20241
(Appointed 14 November 20231
(Appointed 14 November 20231
(Appointed 14 November 20231
(Appointed 14 November 20231
(Appointed 14 November 20231
Msywu
Charity number
1071762
Company number
03562299
Principal address
Exeter Phoenix
Bradninch Place
Gandy Street
Exeter
EX4 3LS
Registered office
Exeter Phoenix
Bradninch Place
Gandy Street
Exeter
EX4 3LS
Independent examiner
S Truran FCCA FCA
Bush & Co Limited
2 Barnfield Crescent
Exeter
EXI IQT
Bankers
CAF Bank Ltd
25 Kings Hill Avenue
Kent
ME19 4JG

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
CONTENTS
Page
Chairman's statement
Trustees, report
Statement of trustees, responsibilities
Independent examiner's report
Statement of financial activities
io
Balance sheet
11-12
Notes to the financial statements
13-22

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
I took on the role of Chair at Daisi from Diana Johnson in November 2023. At this time Daisi was still bearing
post Covid impacts, felt within the arts and creative sector and more widely for young people and tl
organisations that support them. Adjusting to these financial and sector wide pressures, Daisi began the
financial year in a streamlined capacity, with a core, permanent team of three highly experienced creative
sector professionals, Liz Hill, Director, Vicci Worthy, Assistant Director and Kate Wannell, Project Manager.
I would like to take this opportunity to acknowledge the impressive work of this team and Diana Johnson,
former Chair, and for their effort and commitment which has seen Daisi emerge from a testing time with
renewed direction and confidence as we look forward to celebrating 30 years of Daisi in 2025.
A snapshot of activity as the year began is indicative of Daisi's traditional strengths and experknse, and
includes The Art Room, supporknng young carers to develop their creative skills and confidence, and the
continuation of the Youth Music work in North Devon and Talking Turns activity in schools. The Board would
like to express sincere thanks to the funders of this work, Arts Council England, Youth Music, Dartrigton
North Devon Foundation, and Paul Hamlyn Foundation for their invaluable support and flexibility whith has
been critical in helping Daisi remain stable at a challenging time.
Other developments represent new opportunities and directions for the organisation. In February 2024 Daisi
won a tender to Teignbridge District Council for a 13-month contract, bringing its expertise and knowledge as
consultant for a series of UK Shared Prosperity Fund creative projects, which have been highly successful in
broadening participation in the arts within new areas and bringing extensive benelits. A collaboratK)n with
MED Theatre and local writers, culminating in the Agatha Christie Festival, September 2024, is also
representative of new approaches to delivery of Oaisi's objectives and core mission. building on existing
partnerships and the recognition of Daisi's expertise and deep knowledge of the creative sector in the region.
We were delighted to welcome eight new Trustees this year, which bring new skills and diverse perspectives
to the governance of Daisi. Notably in relation to a new Youth Trustees Board who are focused on amplifying
youth voice and a refreshed Fundraising and Private Giving group, both areas which Daisi will Signi￿antlY
develop over the coming years to secure the future and continued impact of Daisi for young people. The
Board for the first time has a Co-chair. Kari Brooks.
I would also like to acknowledge the immense contributions of two highly valued Trustees, Roger Kirk and
Paul Leyland, who will depart during 2024-25. Roger has been with Daisi since 2006 and was instrumental in
developing its governance structure. Roger's knowledge and experience have been key in helping Daisi
navigate the recent challenges, we are sorry to see him go and wish him well.
Liz and l are extremely grateful to all the Trustees for their input, and we look forward to working together in
the next steps and developments for Daisi as it enters its 30th year.
la￿4&￿
L Howard
Chair
Date:
13.11.2024

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT)
FOR THE YEAR ENDED 31 MARCH 2024
The financial statements have been prepared in accordance with the accounting policies set out in note I to
the financial statements and comply with the charity's governing document, 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 an
Republic of Ireland IFRS 102) {effective l January 2019).
Objectives and activities
The objects of Daisi are set out in the Articles of Association as follows:
lal "for the general benefit of the public and in particular but not so as to limit the generality of the
foregoing, the advancement and enrichment of education through the arts and the improvement of lifebng
educational opportunities particularly, but not exclusively, for young people for experiencing and
participating in arts of high quality, and to formulate, prepare and establish schemes therefore, provided that
all objects of the Company shall be of a charitable nature.
Ibl The arts shall include all forms of art and cultural activity including (but without prejudice to the
generality of the foregoing) theatre, drama, dance, opera, singing, music, video, cinematography, radio,
television, line art, literature, craft, photography and all other activities of an artistic or cultural nature."
In shaping our objectives for the year and planning our activities, the trustees have complied with their duty
inspection 17{51 of the 2011 Charities Act to have due regard to the Charity Commission's guidance on public
benefit, including the guidance on public benefit and fee charging. Daisi relies on grants and on tTr￿ income
from fees and charges to cover its operating costs. The overwhelming majority of Daisi's income from fees
and charges comes from publicly funded schools and education settings and are covered by the
organisations, own budgets rather than charges passed on to individuals. Sometimes, for a few specific
activities, Daisi does set a participation fee for the individual young people. In setting the level of fees,
charges and concessions, the trustees give careful consideration to the accessibility of the activity for those
on low incomes. In some cases, Daisi is able to recover the fee from the young person's school rather than
from the individual.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities
the charity should undertake.
Financial review
Total income in the year was £279,19712023: £219,345). Total expenditure during the year was £229,617
12023: £294,117}, leaving a surplus of £49,58012023: deficit of £74,772).
Unrestricted net incoming resources was a surplus of £11,14912023: deficit of £48,743) and net incoming
resources relating to restricted funds which may only be spent in accordance with the restrictions thereon
was a surplus of £38,43112023- deficit of £26,029).
Daisi's unrestricted "core" funds consist of all overheads and staff costs, less general grants and donations
and a nominal management fee charged to each project. There was a deficit in this core fund of £23,fB5
12023: deficit of £16,618) in the year.

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Reserves policy
The Trustees review Daisi's reserve policy annually within the context of the financial and other risks that
Daisi faces. The policy has been to maintain financial reserves at a level that will enable Daisi to manage the
risk a550ciated with the partial dependence on public sector grant funding.
Following this review, the trustees continue to agree that the target balance for reserves should be £50,000
to cover cashflow fluctuations and provide for an orderly wind down if the charity was unable to continue
trading. Outside that figure, reserves may be used, as agreed by the Board, to cover short-term fluctuations
in income and unexpected operational pressures.
The balance of unrestricted funds less tangible fixed assets was £74,306. This exceeds the policy by £24,306
which will be used to fund the expected future deficits in Daisi's unrestricted core funds.
Governing Document and Charity Constitution
Daisi has a Memorandum of Association and is a Registered Charity and a Company Limited by Guarantee.
Daisi incorporated on 12th May 1998.
The Trustees continue to establish written policies and guidance for procedures.
In setknng objectives and planning, the Trustees have given due consideration to general guidance published
by the Charity Commission relating to public benefit.
Risk Management
Daisi identifies risk factors in all of its activities. from the individual activity to the organisation's strategic
development. These are identified by the Director. or by staff who inform the Director during regular one to
one catch ups or staff meetings. These factors are considered carefully through a number of mechanisms, for
example through staff discussion, agenda items and discussion at Management Group and Board level, or
through papers on specific programmes or approaches being presented to those bodies, followed by
discussion and mitigating factors put into action. If risks are predicted with less notice, and are of a
significance that requires the attention of the Board, extra meetings and/or email discussions and
agreements are put into action. The Board also hold an annual Away Day, which includes all staff, in which
opportunities and threats are fully considered resulting in an organisation-wide ownership of a plan of action
and its in herent risks.

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Recruitment and Appointment of New Trustees
The Trustees shall, when complete, consist of at least 6 and not more than 15 individuals, who are over the
age of 18 and all of whom support the Objects.
Potential Trustees are recommended to us or come forward and express an interest in joining the Board.
They then go through a recruitment process led by the Chair. Daisi also undertakes recruitment drives for
new Trustees, beginning with a skills and diversity audit of current Trustees and forming a recruitment
working party of Board and staff members who actively communicate the opportunity to diverse
communities and individuals, followed by an interview process. Potential new Trustees are then invited to
observe a Board meeting, and supported into their role through a range of processes such as buddying,
virtual theme-based 'coffee mornings., engagement in at least one working party, and '5POtlight' focus
sessions within Board meetings.
The Management Group meets to consider policies and finance to alleviate the pressure on the full board.
The Group is currently composed of the Chair, Treasurer, Executive Director, and two other Trustees. The
Management Group reports to the full board.
Director's report
Daisi began the year in a slimmed down but hopeful position. As reported last year. we had had to reduce
core costs to mitigate the knock-on challenges of the post COVID era and the cost-of-living crisis.
therefore embarked on 2023-24 in a streamlined manner, with a core, permanent staff of 3: Director Liz Hill,
Assistant Director Vicci Worthy, and project Manager Kate Wannell. These staff worked hard to respcfftd
proactively to the recent changes, carefully identifying the key areas of Daisi activity on which to focus, using
our small but skilled resource to make the very best offer for young people in and out of school. t*isi's
administration needs were divided and carried out across the staff, bringing opportunity to sort the essential
from the 'nice to have,. and to overhaul some of the systems making them simpler yet more effective.
With a strong portfolio of projects in place, supporting deeper, researchful relationships with schools, non-
school setknngs, and a range of partners, Daisi felt confident to build our support base through a Board
recruitment drive. This was imperative as our Chair Diana Johnson and our Treasurer Caroline Sparke were
due to step down in November, but also timely to bring new, diverse perspectives and experknse to Daisi at
this pivotal time. We were ultimately delighted to receive strong interest resulting in recruiting 9 new
Trustees, joining us at our November 2023 AGM. Our new Board members included 4 Young Trustees, in
support of Daisi's strategy to further explore and increase young people's voice in our governance. Daisi
extends our deepest thanks to those long-serving Board members who left us in 2023, whose contribution to
Daisi quality and resilience, particularly during the challenges of COVID and beyond, were so significant to
Daisi's progress.
Concurrently we started to prepare the organisation for our rnove to Exeter Phoenix. After signifrant effort
from staff to pack up our previous. larger office and plan the logistics of the move, we moved across
seamlessly on 27th September. The vibrant Phoenix building and warm and helpful welcome from its team,
alongside much improved and flexible rental arrangements for Daisi, created an immediately positive impact
for our team, consolidating our drive to embrace change and build forwards.

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
As the year got going, we were gratified to hear that Daisi's The Art Room application to Arts CoL￿clI England
National Lottery Project Grants, on its 3rd re-submission, was successful. The Art Room, in partnership with
Westbank charity, was to provide 18 months of creative arts sessions to support around 80 young carers in
mid and South Devon. The sessions were designed to assist them to develop new skills, build relationships,
and support their mental health, focusing on boosting their confidence and resilience. A150 SUPPOrted by the
Northbrook Foundation, 7Stars Foundation and Okehampton Council, 3 Daisi artists co-designed regular
group sessions and shared out-of-doors away days with young carers aged 11-16.
Meanwhile we were busy setting up more new access to arts experiences through The Melting Pot, an
initiative to encourage development of young people's live music Opportunities in North Devon, focused on
growing the visibility of opportunities in a sustainable way in line with Dai5i's Dartington North i*von
Foundation contract, and Youth Music Catslyser grant. The event took place on 31st May, hosted at the
Plough Arts Centre in Great Torrington with over 50 young people aged 11 to 18 performing. The event was
led by local music leaders Sam Lythgoe-jones and Baz Bix, with an excellent support group of young people,
youth workers and Daisi staff.
By Spring Daisi was into the very final stages of delivering any remaining activities from our Youth Music Fund
C grant and had begun setting up the Catalyser project which was to focus our broad musical inclusion
learning to date in one geographical area, North Devon. We had secured Catalyser for 3 years {2023 to
2026). The funder, Youth Music. continued to exhibit strong and relevant support to their funded
organisations at this time, allowing some flexibility in use of budget towards core costs to help stsbilise
organisations for the future, which gave Daisi vital help at this critical time.
Our Paul Hamlyn Foundation IPHF) funded Talking Turns, for which Daisi continued in our role of lead
partner, continued to gather strength and depth. In Spring we were developing a new relationship wi1h
Dartmoor's MED Theatre, also delivering their own PHF funded project, and were co-planning a shared day
together on 29th June at On The Hill, a Devon land-based outdoor centre. The day was a memorable Success,
and a fabulous chance for teachers to gain creative development and confidence, meeting their peers from
further afield and collaboratively sharing with the project artists. Later on, storm Ciaran caused us to
postpone the project's Autumn away day, but that was reinstated as the clouds cleared, hosted at le
partner Shiphay school prompting new, intriguing ideas about a whole school take over day, which ultimately
became a reality in June 2024.
The significant community interaction and rich learning from the above projects placed Daisi very well to
instigate new work and explore new potential partnerships. Daisi was approached by Libraries Unlimited to
partner with them in an exciting tender for the River and Moorland Fesiivals commission from Dartmoor
National Park Authority (DNPA) and National Lottery Heritage Fund (NLHF). The tender was submitted in
November, but by February 2024 we knew we had not been successful. We built on the above partnership
by also developing a bid in partnership with two Devon libraries to the Million Hours fund, available from
DCMS and National Lottery Community Fund for extra hours of youth work with 11-18-year-olds, focused on
anti-social behaviour. Unfortunately, this bid was also unsuccessful. However, both Dai51 and Libraries
Unlimited agreed that there is much potential for the two organisations to seek future opportunities
together, and both felt very positive about the collaboration.

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
As well as our Board recruitment and development, and our fundraising campaign for new projects and
resources, Daisi was busy expanding our skills and resources through in-project opportunities. By November
we had a freelance role in place within our Youth Music project. Kevin Winser, a lifelong musician, DJ, and
advocate for musical engagement with experience at BBC Radio Devon became our freelance relationship
builder in North Devon. And at the year-end we were confident to proceed with our recruitment of a l-year,
fixed-term Administrator role. We had also gone live with our new Daisi website near the start of the year in
June 2023, creating much improved opportunity to share and promote Daisi's impact and offer. This was
closely followed by us getting our profile ready for the first draw of Exeter's new Community Lottery on 22nd
July 2023. Further significant effort was Put towards rising core funds through an application to The Fore
Foundation in January to support Daisi time to develop our mental well-being work and our development of
private giving to Daisi. This was not successful. In December we also planned and delivered a '24 days of
giving, social media campaign which did not bring us the hoped for donations but did provide ongoing
learning for the team about mounting this kind of campaign.
In January 2024 we submitted a tender to Teignbridge District Council {TDCI for a consultant role on one of
their UK Shared Prosperity Fund projects, Exhibiting Participating and Performing in the Arts. This was for a
13-month contract, starting February 2024. The purpose is to enhance Teignbridge's existing opportunities
to experience and participate in the arts, particularly in the district's more deprived neighbourhools. We
were delighted to be successful with our tender, and as the year ended, we were working intensively with
TDC and the project's own Advisory Board. Daisi was excited to have this new opportunity to bring our skills
and experience to this initiative which would bring extensive benefits to Teignbridge communities. By
February we also had a new contract in place with the Agatha Christie Festival, for young people's ￿)rk in
collaboration with MED Theatre and local writer Bea Roberts, to culminate at the festival in septeM￿r 2024.
In February 2024, we were delighted that one of our new Board members, Alex Devoy, became our new
Treasurer, and a second new Board member, Kari Brooks, agreed to become our Vice Chair. These roles really
support the depth of governance structure at Daisi and our Board development, which also moved forward
through setting up the terms of reference for our first Young Trustees working group, and by year end
bringing together a new Board fundraising working group whose first meeting then took place on 16th April
2024.
By March 2024 we were well underway with our plans for an in-person event under the banner of the
Cultural Education Partnership. With key partners Doorstep, MED Theatre and Beaford Arts, we were
building towards a fun, celebratory and profile-raising event in June 2024. The Cultural Hero Awards
connected with well over 70 local arts education supporters and laid down a recipe to be built upon for
connecbng the network in future. resources permitting.

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
2023 to 2024 was therefore a substantial year for Daisi and we would like to thank the staff. Board. partners
and funders who have contributed to our progress, and the 30 expert artists who collaborated with us on
project design and delivered the wide range of participatory work with young people. It was a year of
adjusting to new situations, pursuing new opportunities and new initiatives, re-aligning working processes,
and strengthening support structures including governance and partnerships. During the year over 230
teachers and youth leaders collaborated with Daisi on projects, and Daisi engaged professional artists to
deliver over 400 sessions. Just under 4000 young people directly participated in Daisi activity, of which at
least 38°A were more vulnerable. This programme was made possible through over 70 Daisi partnerships with
formal and non-formal education, youth, community and cultural setknngs. The most common art from
content in the programme (well over 50/1 was visual art, followed by performing arts. Together the above
developments and activity set the organisation up for a strong portFolio of delivery for beneficiaries in
2024-25 and clarifi'ed the resources needing to be secured for 2025-6 and beyond.
The trustees who served during the year and up to the date of signature of the financial statements were:
Ms Djohnson
Mr R Kirk
Mr P Leyland
Ms C Sparke
Mr Nicholas Hoste
Ms L Howard
(Resigned 14 November 2023)
(Resigned 23 July 20241
(Resigned 14 November 2023)
(Resigned 22 May 2023)
Mr R Passmore
Ms H Rawlings
Ms Ljohn
Mr J Levontine
(Resigned 14 November 2023)
(Resigned 18 November 2023)
(Resigned 17 October 20231
(Appointed 6 February 2024)
(Appointed 14 November 2023)
(Appointed 6 February 2024)
(Appointed 14 November 2023)
(Appointed 14 November 20231
(Appointed 14 November 2023)
(Appointed 14 November 2023)
(Appointed 14 November 20231
Ms K Brooks
Ms A Devoy
Ms E Perryman
Mr D Harding-Brown
Ms A Lloyd
Mr I Wood
Msywu

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Statement of trustees, responsibilities
The trustees, who are also the directors of Devon Arts In Schools Initiative for the purpose of ccmpany law,
are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable
law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company Law requires the trustees to prepare financial statements for each financial year which give a true
and fair view of the state of affairs of the charity and of the incoming resources and application of resources,
including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP;
make judgements and estimates that are reasonable and prudent; and
prepare the financial statements on the going concern basis unless it is inappropriate to presu￿￿ that the
charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy
at any time the financial position of the charity and enable them to ensure that the financial statements
comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity
and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees, report was approved by the Board of Trustees.
Ms L Howard
Chair
Date:
13.11.2024

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
INDEPENDENT EXAMINER'S REPORT
TO THE TRU5TEE5 OF DEVON ARTS IN SCHOOLS INrriATIVE
I report to the triistees on my examination of the financial statements of Devon Arts In Schools Iritiative {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 preparatr.on ot the tinancial statements in accordance with the requirements of the Companips Ar.t 2nn6
(the 200G Actl-
Having fiHtiEfipd myEplf that the financial stat@m@nts of the charity are not required to be auditd under Part
16 of the 2006 Aci and are eligible for independent examinatr-on, I report in respect of my examination of the
charity's financial statement5 carried out under settion 145 of the Charities Act 2011 {the 2011 Act). In
carrying oijt my px2mination I have followed all the applicable Directions given by the Charity Commission
uridei 5eitiun 14515)(b) of Ihe 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
secrion L45 of the 2011 Act. I confirm that l am qualitied to undertake the examination because l am a
member of ICAEW, 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:
accounting recoids wei¥ Iiul kepL iii re5peLt uf the charlry as requlred by settion 386 of the 2006 Act; or
the financial 5tatement5 do not accord with those record5- or
the tinancial 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 con£idp.rpd
as part of an independent examination- or
the financial statements have not been prepared in accordance with the methods and principles of the
statement ot Recommended Practtce for accountine and rppnrhng by charities applicable to charities
prepa ring their accounts iii aLLurddllLe with the Financial Reporttng srandard applicable in the U K a
Republic of Ireland IFRS 1021.
I have no concerns and have come across no other matters in connection with the examin2tinn to whrh
attention should be drawn in this report in order to enable a proper understanding of the financial
statements to be reached.
. I c
S Truran FCCA FCA
Streets Bush Limited
Chartered Accountants
2 Barnfield Crescent
Exeter
Dated: l.¢...r4.oKJ&4f4EI ZoL*

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restricted
funds
funds
2024
2024
Total
Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
Income from:
Donations and
legacies
Charitable activities
26,433
29,169
5,675
217.920
244.353
29,169
5,675
2,618
13,113
2,448
201,166
203,784
13,113
2,448
Investments
Total income
61,277
217,920
279,197
18,179
201,166
219,345
enditure on:
Charitable activities
50,128
179,489
229,617
66,922
227,195
294,117
Gross transfers
between funds
Net income/
(expenditure) for the
year/
Net movement in funds
2,394
{2,394}
11,149
38,431
49,580
146,3491 {28,423} (74,7721
Fund balances at l April
2023
63,157
131.506
194.663
109,506
159,929
269,435
Fund balances at 31
March 2024
74,306
169,937
244,243
63,157
131,506
194,663
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure
account under the Companies Act 2006.
10-

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Notes
Fixed assets
Tangible assets
69
517
Current assets
Debtors
Cash at bank and in hand
io
14.292
251.767
17.220
319.211
266,059
336,431
Creditors: amounts falling due within
one year
li
{21,885)
1142,2851
Net current assets
244,174
194,146
Total assets less current liabilitie5
244,243
194,663
Income funds
Restricted fu nds
Unrestricted funds
12
169,937
74,306
131,506
63,157
244.243
194,663
11

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
The company is entitled to the exemption from the audit requirement contained in section 477 of tl
Companies Act 2006, for the year ended 31 March 2024.
The directors acknowledge their responsibilities for complying with the requirements of the Comparies 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 Trustees on .
13.11.2024
Ms L Howard
Chair
Company registration number 03562299
12-

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
NOTES TO THE FINANCIALSTATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
1.1 Accounting convention
The financial statements have been prepared in accordance with the charity's governing document, the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of
Ireland" I"FR5 102,1 and the Charities SORP Accounting and Reporting by Charities: Statement of
Recommended Practice applicable to charities preparing their accounts in accordance with the
Financial Reporknng Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective l January
20191. 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 have been prepared under the historical cost convention. The principal
accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements. the trustees have a reasonable expectation that the
charity has adequate resources to continue in operational existence for the foreseeable future. Thus
the trustees 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 trustees in furtherance of their
cha ritable objectives.
Restricted funds are subject to specific conditions by donors 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.
1.4 Income
All incoming resources are included on the Statement of Financial Activities when the charity is ￿gallY
entitled to the income, it is probable that the income will be received and the amount can be quantrfied
with reasonable accuracy.
In the event that a donation is subject to conditions that require a level of performance by the charity
before the charity is entitled to the funds, the income is deferred and not recognised until those
conditions are fully met. or the fulfilment of those conditions is wholly within the control of the charity
and it is probable that these conditions will be fulfilled in the reporting period.
1.5 Expenditure
Expenditure is accounted for on an accruals basis and has been classified under headings that
aggregate all cost 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 resources.
13-

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies
(Continued)
1.6 Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or Val￿￿On, 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:
Computer equipment
Office equipment
50% on cost
33% on cost
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 activitres.
1.7 Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instrumentg and Section
12 '0ther 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 contractua I provisions of the instrument.
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.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans 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 amorhsed.
14-

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Donations and legacies
Unrestricted Restricted
funds
funds
Total Unrestricted Restricted
funds
funds
Total
2024
2024
2024
2023
2023
2023
Donations
26,433
217,920
244,353
2,618
201,166
203,784
Charitable activities
Total Unrestricted
funds
2023
2024
Creating arts opportunities
29,169
13,113
Investments
Total Unrestricted
funds
2024
2023
Bank interest
5,675
2,448
15-

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Charitable activities
2024
2023
Staff costs
Depreciation and impairment
Direct costs
Marketing
Office costs
Insurance
Independent examination fees
Bank charges
91,524
448
133,264
682
117,288
2,322
14,178
839
2,958
60
133,767
2,780
19,517
1,122
2,913
72
229,617
294,117
229,617
294,117
Analysis by fund
Unrestricted fu nds
Restricted funds
50,128
179,489
66,922
227,195
229,617
294,117
Trustees
No trustees received any remuneration or benefits from the charity during the year12023: Enill.
During the year no trustees received reimbursed expenses12023: £nil).
Trustees made donations to the charity this year totalling £5012023: £501.
Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
16-

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Employees
(Continued)
Employment costs
2024
2023
Wages and salaries
91,524
133,264
The aggregate employee benefits of key management personnel for the year ended 31 March 2024
were £46,25212023: £45,250).
There were no employees whose annual remuneration was more than £60,000.
Taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 19& or
section 252 of the Taxationof Chargeable Gains Act 1992 to the extent that these are applied to its
cha ritable objects.
Tangible fixed assets
Computer
equlpment
Total
equlpment
Cost
At l April 2023
15,752
8,495
24,247
At 31 March 2024
15,752
8,495
24,247
Depreciation and impairment
At l April 2023
Depreciation charged in the year
15,752
7,978
448
23,730
448
At 31 March 2024
15,752
8,426
24,178
Carrying amount
At 31 March 2024
69
69
At 31 March 2023
517
517
17-

DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
10 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
11,322
2,970
14,234
2,986
14,292
17,220
11 Creditors: amounts falling due within one year
2024
2023
Other taxation and social security
Deferred income
Trade creditors
Other creditors
Accruals and deferred income
1,920
8,339
7,440
1,186
3,000
1,825
108,866
27,385
1,269
2,940
21,885
142,285
18-

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DEVON ARTS IN SCHOOLS INITIATIVE
KNOWN AS DAISI
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
13 Analysis of net assets between funds
Unrestricted Restricted
funds
funds
2024
2024
Total Unrestricted Restricted
funds
funds
2023
2023
Total
2024
2023
Fund balances at 31
March 2024 are
represented by:
Tangible assets
Current assets/
{liabilities)
69
69
517
517
74,237
169,937
244,174
62,640
131,506
194,146
74,306
169,937
244,243
63,157
131,506
194,663
14 Legal Status
Daisi Arts in Schools Initiative {DAISII is a company incorporated in England and Wales limited by
guarantee with no share capital. The liability of each member under guarantee is limited to £1.