OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

← Live Art Development Agency

2025-03-31-accounts

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Company number 03651554 Charity number 1079943

Live Art Development Agency

(Limited by Guarantee)

Report and Financial Statements

for the year ended 31 March 2025

Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Contents

Page
Reference and Administrative Details 1
Trustees' Report 2 - 8
Independent Examiner's Report 9
Statement of Financial Activities (including Income and Expenditure Account) 10 - 13
Balance Sheet 14
Notes to the Financial Statements 15 - 22

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Reference and Administrative Details

Constitution

The charitable company is a private company limited by guarantee registered in EW - England and Wales, company number 03651554 and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 1079943.

Directors and trustees

The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

As set out in the Articles of Association the trustees are appointed by members of Live Art Development Agency at our Annual General Meeting (AGM). Any member so appointed shall retain his office for three years until the third year AGM. They shall then be eligible for re-election for a further third year term, with a limit of two terms.

Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.

The trustees during the year and since the year end were:

Professor Angela Bartram Katy Baird Ansuman Biswas Robin Deacon (Chair) Gillian Lloyd Catrin Sheridan appointed 10 October 2025 Andrew Wansell Aaron Wright

Chief executive/day to day management

Ria Righteous until 1 June 2024 Ruth Holdsworth from 17 April 2025 until 7 October 2025 Mary Osborn from 7 October 2025

Independent examiners

Breckman & Company Ltd, Chartered Certified Accountants, 49 South Molton Street, London W1K 5LH.

Bankers

HSBC plc, Lion House, 25 Islington High Street, London N1 9JL. Wise, 56 Shoreditch High Street, London E1 6JJ.

Registered office and operation address

The Garrett Centre, 117a Mansford Street, London E2 6LX.

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Trustees' Report

The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2025 which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The reference and administrative details set out on page 1 forms part of this report. The financial statements comply with Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association 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).

Structure, governance and management

The Live Art Development Agency (LADA) is a company limited by guarantee and registered charity. It is governed by its Memorandum and Articles of Association dated 16 October 1998 and amended to allow for current governance arrangements on 22 February 2000.

Directors of the Company appoint members as new Company Directors either to fill a casual/skills vacancy or by way of addition to their members. Induction of new Company Directors is provided through a meeting with the Chair of the Board and staff, who provide up-to-date information on the organisation and its finances.

The Board of Directors administer the Charity. The Board meets quarterly. A Director is appointed by the Board of Directors to manage the day-to-day operations of the Charity. To facilitate effective operations, the Director has delegated authority, within terms of delegation approved by the Board of Directors, for operational matters including finance, employment and artistic performance related activity.

The Board of Directors has a risk management strategy which comprises:

· an annual review of the risks the charity may face;

· the establishment of systems and procedures to mitigate those risks identified in the plan; and

· the implementation of procedures designed to minimise any potential impact on the charity should those matters materialise.

The charity risk register is reviewed quarterly by the board and highlights any current risks and mitigation plans.

Objectives and activities for the public benefit

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)’.

The objectives for which the charitable company was established, as defined in the Memorandum and Articles of Association, are to advance the education of the public by promoting the arts, particularly by facilitating the development of the Live Art sector in London.

.

2

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Trustees' Report

The Board of Directors have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Board of Directors consider how planned activities will contribute to the aims and objectives they have set.

The charity relies on grants and the income from fees and charges to cover its operating costs. In setting the level of fees and in deciding on those who are to be supported, the Board of Directors give careful consideration to the accessibility of the charity to all members of the public.

Organisational developments

In 2024/25, LADA continued to serve the needs and interests of artists working in Live Art in London and the UK. The activity was set out against their Activity Plan and Investment Principles as a 2023-26 Arts Council England National Portfolio Organisation, extended to March 2027 in March 2025 as part of the Arts Council England’s strategic review for all organisations in the Portfolio.

Until June 2024, LADA was led by part-time Interim Director Ria Righteous who then stepped into the role of Artistic Consultant from June 2024 until the 31 July 2024 before leaving the organisation. A second part-time Interim Director Ruth Holdsworth stepped into post in a freelance consultancy capacity from 17 April 2025 until 29 November 2025, with a focus on executive operations and supporting the recruitment and handover period for a new permanent Director.

In March 2024 the recruitment for a new Director began. The role was widely advertised and initial brief phase one interviews were held with all longlisted candidates which led to a final shortlist of 6 candidates who came to in-depth in person interviews. In June 2024, Mary Osborn was recruited as permanent full time Director, stepping into post in October 2024. From November 2024, Mary Osborn began a strategic review of the organisation with the Board of Directors to include:

Throughout 2024-25, LADA remained at The Garrett Centre, Bethnal Green for its eighth full year. As well as the Study Room open four days a week, LADA hosted public events and workshops in the space.

LADA’s shop, Unbound, reopened online in September 2024 with sales building through online book sales of new and old stock and a pilot artist edition and works sale in collaboration with performance artist Poppy Jackson November 2024 - May 2025.

3

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Trustees' Report

Achievements and Performance

LADA’s activities have historically fallen under four pillars: resources, opportunities, projects/events and publishing. In a transitional year, LADA continues to report achievements and performance under each of those pillars.

1. Resources:

Access to a wealth of material about Live Art.

Study Room

LADA continued to deliver vital access to the Study Room and digital resources, supporting artists, researchers and visiting groups and strengthening relationships with higher education institutions.

LADA saw a strong recovery of visitor engagement, culminating in a standout Q3 that exceeded the previous year’s attendance figures by 50%. Visitor feedback remained unanimously positive and affirmed the Study Room’s national importance, with a total of 506 visitors. Study Room usage fluctuated across the year in ways consistent with higher education cycles.

The re-introduction of group visit fees has positively impacted turnover. LADA used these figures and research to develop a tiered pricing model for 2025/26 aligned with organisational size and sector.

A visit from the National Archives contributed to planning for a Resilience Grant application for the collection and the completion of the Resilience Indicator. The outcome determined the need for a period of review of the Collections Development and Accession Policies, as well as Mission Statement leading to a decision to pause on collecting further materials until April 2026.

International visibility was enhanced through participation in the Venice International Performance Art Week, while LADA’s online media channels continued to grow and engage diverse audiences. In January 2025, a major loan of EF5209 (Cerith Wyn Evans / Leigh Bowery at the Anthony d’Offay Gallery) was facilitated for Tate Modern’s Leigh Bowery! exhibition (Q3 continuing into Q4). The need for a long-term strategy for digital preservation has been identified, including digitisation backlog, and resource sustainability.

Unbound

2024-25 marked a period of renewal and strategic development for Unbound, LADA’s specialist bookshop. Following infrastructure improvements and staffing support in Q1, Unbound successfully relaunched on 4 July 2024 to positive sector feedback. Sales remained steady across the year, with the strongest performance in Q4.

Unbound expanded its offer significantly, adding over 25 new titles spanning live art, performance studies, theory, de-colonialism and political philosophy. Major highlights included the launch of Notes from Isolation (Andrea Pagnes) and the Pathways Home: Poppy Jackson Limited Edition Collection, both of which strengthened Unbound’s profile and community engagement.

Partnerships and external visibility increased through Unbound’s presence at Fierce Festival (Birmingham) and through artist-led events such as Jess Dobkin’s Wetrospective book launch.

To address naming conflicts and clarify public identity, LADA initiated a rebrand of Unbound to Live Art Bookshop (LAB). The new name foregrounds LADA’s expertise, improves sector recognition, and will launch in June 2025.

Overall, the year established a strong foundation for future growth, improved sector engagement, and a more coherent distribution strategy aligned with LADA’s mission.

4

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Trustees' Report

2. Opportunities:

Support strategies and services for established and emergent artists.

Opportunities for students expanded through placements and residencies, including placements with Sussex University and Rose Bruford College. Through partnership with Goldsmiths Exhibitions Hub Alumni Commission Award and Forma, LADA provided research support and mentoring to artist Krystle Patel.

The Black Artists in Residence programme completed with events with Madinah Farhannah Thomson and Malik Nashad Sharpe.

Consultancy work undertaken by Mary Osborn generated sector benefits as well as immediate income for LADA, supporting artists and companies such as Dan Daw Creative Projects and Cade & MacAskill and strengthening LADA’s professional network in a period of re-growth.

In a transitional year, there was a focus on building foundations for future development programmes for artists through national and international partnerships. This included reimagining and building partnerships for LADA’s flagship programme DIY into ‘Do It Together’ (DIT), led by new leadership. Through sector-wide consultation, LADA confirmed strong demand for a renewed artist-led professional development model grounded in collaborative process. Partners were secured for future delivery, and fundraising applications were submitted to support an inclusive national programme.

LADA contracted three new Artists in Residence for 2025, each developing artistic community-focused programmes exploring shared practice and interdisciplinary approaches, and engagement in the Study Room resources. These residencies reflect LADA’s renewed commitment to collaborative learning, peer-to-peer community building, and expanding the boundaries of live art research.

2024-25 was focused on consolidation, stewardship, and strategic renewal - strengthening foundations for the next phase of LADA’s work under new leadership, and reasserting LADA’s vital role as an artistcentred, research-driven organisation within the Live Art sector.

3. Projects:

Activities and events to increase the profile of Live Art, further critical debates, provide opportunities for artists, develop new audiences, and lobby for change.

Live Art UK

Dialogue with the Live Art UK (LAUK) network continued throughout the year, with commitment from members to re-energise the network. Planning was put in place for an April 2025 live gathering, as well as further future planning for fundraising avenues to re-activate the network.

5

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Trustees' Report

Events

LADA delivered a wide-ranging programme of public events, reaching 1,042 public audiences.

Across the year, LADA hosted an active programme at The Garrett Centre, including LADA Screens events, Long Table discussions with Lois Weaver, artist talks, screenings, experimental gatherings, and cross-disciplinary workshops. These events reflected strong community engagement, offering space for critical conversation, artistic reflection and sector connection. Off-site activity continued through the completion of the Live Art in Rural UK commissions, culminating in significant new works by Miranda Whall in Wales and Poppy Jackson in Suffolk, both generating new partnerships, community relationships and artistic opportunities.

In Q2, LADA delivered a significant programme in partnership with Queen Mary University of London, hosting live events, screenings and sector gatherings centred around Mexican artist Guillermo GómezPeña’s four decades of radical performance practice with La Pocha Nostra.

In Q3 and Q4, LADA deepened its focus on research-led artist gatherings, with Study Room sessions on Live Art and gaming, creative archiving, and methodologies of horror within performance practice. Additional collaborations included the performingborders printed edition launch, a Winter Warmer community event, a screening and discussion with Ron Athey and Dominic Johnson at Queen Mary University, and the UK launch of Jess Dobkin’s Wetrospective, celebrating queer performance archives.

In summary, events deepened engagement with LADA’s Unbound bookshop and Study Room collections, built stronger connections with local and international collaborators, and offered accessible events including BSL-interpreted sessions. All activity was professionally documented for future distribution across LADA’s channels.

4. Publishing:

Advancing engagement with Live Art through partnering major publishers on key critical titles; publishing our own books and DVDs; and co-publishing artists’ books and DVDs.

Fundraising and development took place for a publication on the work of Mexican performance artist Rocío Boliver, a project that first started in 2019. Over 2024-25, a significant amount of developmental work took place including: a designed dummy book and multiple funding applications. Any further work was paused on the publication pending funding outcomes.

LADA released Vest & Page’s Notes from Isolation, made available through Unbound in September. This title strengthened LADA’s catalogue of artist-led publishing.

Alongside project delivery, LADA undertook strategic reflection on its broader publishing capacity and role. LADA initiated conversations with sector peers and began to explore revised models - such as small-scale publications, limited runs and zines - and the potential formation of a publications subgroup to guide future work.

6

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Trustees' Report

Plans for future periods

Plans laid out for 2025/26 included:

Financial review

The company had a net deficit of £(10,391) for the year. Together with funds brought forward from the previous year, the company has unrestricted funds of £147,662 at 31 March 2025 (2024: £147,652). There were no restricted funds carried forward (2024: £10,401). This is sufficient for the activities for which the funds were provided.

Risk analysis and reserves policy

Reserves Policy

The Board of Directors reviews the Charity risk register quarterly for the purpose of establishing what level of reserves the Company needs to hold. The liabilities have been identified as the likelihood of having to pay redundancies in the event of a large funding cut and the commitment to the office licence agreement. The strategic reserve position at the end of 2024/25 is at £80,000, with £2,000 designated as a strategic fund to cover costs of replacing LADA’s IT servers.

LADA continues to operate as an ACE NPO, with funding guaranteed until 2026, with notification in December 2024 that this would be extended to 2027 with an inflationary increase of 1.61% in May 2025. In the event that Arts Council England funding is not extended, past 2027, the 12-month notice period would enable LADA to cover costs of resulting change or closure through a final funding agreement and strategic reserves.

Financial

Whilst free reserves were adequate to cover the financial risks of a transitional year in 2024-25, in October 2024, the Board and incoming Director began a 12 month strategic review of LADA’s financial model, operational costs and income sources with the aim to bring LADA out of running at an annual deficit by March 2027.

7

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Trustees' Report

Premises

2024-25, was LADA’s eighth full year in The Garrett Centre, Bethnal Green. Until January 2025, LADA continued to benefit from the ‘Small Capital’ grant received from Arts Council England at the start of this current lease (2017), which has helped support the purchase of a seven year leasehold interest on the new facility, and equipment/fittings for the space. The forward payment of rent this grant covered ended in December 2024, with rent payments due to Chalice Foundation from January 2025 through to September 2027, in which time a new lease will need to be negotiated.

Policies

In this period, LADA renewed a number of policies to protect staff, Board and beneficiaries of LADA’s work. This included a Digital and Online policy which clarifies how public statements from LADA are approved. The Charity Commission is in agreement with this approach.

Small company exemptions

This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.

This report was approved by the Board of Trustees on 22 December 2025 and signed on its behalf by

Gillian Lloyd Trustee

Robin Deacon (Chair) Trustee

8

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Independent Examiner's Report to the Trustees of Live Art Development Agency

I report on the accounts of the company for the year ended 31 March 2025, which are set out on pages 10 to 22.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of the Association of Chartered Certified Accountants

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention:

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. ꞏ to keep accounting records in accordance with section 386 of the Companies Act 2006; and

  3. ꞏ to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Richard Nelson FCCA Breckman & Company Ltd Chartered Certified Accountants

49 South Molton Street London W1K 5LH

22 December 2025

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2025

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from:
2
Donations and legacies - page 11
242,228
-
Charitable activities:
Charitable income - page 11
20,730
20,000
Investments
1,832
-
Total
264,790
20,000
Expenditure on:
Raising funds:
Fundraising
600
-
Charitable activities:
Charitable expenditure - page 12
274,581
20,000
Total
275,181
20,000
Net (expenditure)
3
)
(10,391
-
Transfers between funds
14, 15
10,401
)
(10,401
Net movement in funds
10
)
(10,401
Reconciliation of funds:
Total funds brought forward
147,652
10,401
Total funds carried forward
14, 15
147,662
-		 2025
Unrestricted
Restricted
Total
funds
funds
£
£
£
242,228
240,973
-
40,730
2,842
-
1,832
1,694
-
284,790
245,509
-
600
-
-
294,581
258,254
21,157
295,181
258,254
21,157
)
(10,391
)
(12,745
)
(21,157
-
28,717
)
(28,717
)
(10,391
15,972
)
(49,874
158,053
131,680
60,275
147,662
147,652
10,401		 2024
Total
£
240,973
2,842
1,694
245,509
-
279,411
279,411
)
(33,902
-
)
(33,902
191,955
158,053

The notes on pages 15 to 22 form an integral part of these financial statements.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

10

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Year ended 31 March 2025
2025
£
Income from donations and legacies
Grants
Arts Council England (ACE) - NPO
240,186
Donations
Donations
2,042
242,228
Income from charitable activities
Charitable income
Commission/partnership fees
3,424
Consultancy fees
8,134
Seminars/talks
1,064
Bookshop/publishing income
8,108
20,730
Project specific funding
Donations
20,000
20,000		 2024
£
240,186
787
240,973
1,833
-
550
459
2,842
-
-

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Year ended 31 March 2025

Expenditure on raising funds
Fundraising and publicity of the charity
Expenditure on charitable activities
Production/project costs
Stock
Salaries
Artist fees
Technical/production/design
Other fees
Social security costs
Access cost
Staff pension scheme costs
Print/distribution
Website/internet
Travel/transport
Hospitality
Printing/postage/stationery
Books/DVDs
Event tickets
Depreciation
Support costs - page 13
Governance costs - page 13		 2025
£
600
600
3,940
25,792
30,119
764
5,363
933
1,658
613
254
1,292
3,364
1,589
1,253
279
211
16,881
94,305
197,138
3,138
294,581		 2024
£
-
-
128
59,692
38,378
95
1,945
1,796
280
1,212
369
1,111
807
-
-
150
-
33,565
139,528
136,883
3,000
279,411

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Year ended 31 March 2025

Support and governance costs
Support costs
Office overheads
Rent
Light/heat
Telephone/fax
Insurance
Website/internet
Equipment/maintenance
Cleaning
Administration costs
Salaries
Freelance support staff
Social security costs
Staff pension costs
Staff training
Access cost
Travel/transport
Hospitality
Printing/postage/stationery
Advertising
Sundries
Professional/financial
Consultancy fees
Legal/professional/bookkeeping
Bank charges
Bad debts
Governance costs
Accountancy/consultancy
Board expenses		 2025
£
15,714
3,068
8,551
3,412
15,483
80
13
83,756
33,900
3,029
1,991
1,248
-
2,155
1,057
66
5,055
53
10,445
7,916
146
-
3,000
138		 £
46,321
132,310
18,507
197,138
3,138
200,276		 2024
£
6,739
2,784
8,880
3,354
33,595
715
33
56,699
-
2,615
1,763
1,174
468
1,348
662
99
38
67
8,170
6,168
155
1,357
3,000
-		 £
56,100
64,933
15,850
136,883
3,000
139,883

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

Balance Sheet 31 March 2025

2025 2024
Notes £ £ £ £
Fixed assets
Tangible assets 8 1,969 18,850
Current assets
Stocks 9 19,109 19,688
Debtors 10 6,925 2,326
Cash at bank and in hand 155,531 146,328
181,565 168,342
Liabilities
Creditors: amounts falling
due within one year 11 )
(35,872		 )
(29,139
Net current assets 145,693 139,203
Total assets less current liabilities 147,662 158,053
The funds of the charity:
General fund 58,752 56,850
Designated funds 88,910 90,802
Unrestricted funds 14 147,662 147,652
Restricted income funds 15 - 10,401
Total charity funds 147,662 158,053

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

ꞏ The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

ꞏ The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees on 22 December 2025 and signed on its behalf by

Gillian Lloyd Trustee

Robin Deacon (Chair) Trustee

The notes on pages 15 to 22 form an integral part of these financial statements.

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

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

1. Accounting policies

1.1. Basis of preparing the financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), and the Companies Act 2006.

The charity meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

1.2. Incoming resources

All incoming resources are included in the Statement of Financial Activities when:

- Donations and legacies

Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:

- Charitable activities

Charitable income - income from box office, performance fees and sundry artistic income is included in incoming resources in the period in which the relevant show takes place.

Project specific funding - when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

- Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

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

1.3. Expenditure

All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:

- Charitable activities

Project/production costs - costs associated with art-making and artist support.

- Support costs

The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to artistic production costs.

- Governance costs

Costs associated with the constitutional and statutory requirements of the charity.

1.4. Fund accounting

Funds held by the charity are either:

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

1.5. Tangible fixed assets and depreciation

Individual fixed assets costing £2,000 or more are capitalised at cost.

Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Leasehold properties - Straight line over six years
Office equipment - Straight line over four years
Fixtures/fittings/equipment - Straight line over six years
Website - Straight line over six years

1.6. Stock

Stock is included at the lower of cost or net realisable value. Donated items of stock are recognised on receipt at fair value which is the amount the charity would have been willing to pay for the items on the open market.

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

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

1.7. Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

1.8. Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.9. Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

1.10. Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised as expenditure when due.

1.11. Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.

1.12. Significant Accounting Estimates and Judgements

In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually. Further information about key assumptions concerning the future, and other key sources of estimation of uncertainty, are set out in the notes.

2. Incoming resources

The total incoming resources for the year have been derived from the principal activity undertaken wholly in the UK.

3. Net (expenditure) for the year is 2025 2024
stated after charging: £ £
Depreciation of tangible fixed assets 16,881 33,565
Independent Examiners' fees:
- examination 3,000 3,000

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

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

4. Trustees' emoluments and reimbursed expenses

The trustees received no remuneration during the year (2024 - £nil).

The aggregated amount reimbursed to trustees during the year was £273 (2024 - £287).

5.
Staff costs and numbers
Staff costs
Salaries and wages
Social security costs
Pension costs
No employee earned £60,000 or more during the year (2024 - nil).		 2025
£
109,548
3,962
2,604
116,114		 2024
£
116,391
4,411
2,975
123,777

The key management personnel of the charity comprise the Trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity were £36,759 (2024 - £43,948).

Staff numbers

The average numbers of employees (including casual and part time staff) during the year was made up as follows:


Production
Support		 2025
Number

1
2
3		 2024
Number
2
1
3

6. Pension costs

The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £2,604 (2024 - £2,975).

7. Corporation taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

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

8.
Fixed assets - tangible assets
Long
Office
Fixtures/
Website
leasehold
equipment
fittings/
property
equipment
£
£
£
£
Cost
1 April 2024 /
31 March 2025
177,796
8,224
51,837
12,000
Depreciation
1 April 2024
163,677
5,493
51,837
10,000
Charge for year
14,119
762
-
2,000
31 March 2025
177,796
6,255
51,837
12,000
Net book values
31 March 2025
-
1,969
-
-
31 March 2024
14,119
2,731
-
2,000
9.
Stocks
2025
£
Stocks
19,109
10.
Debtors
2025
£
Trade debtors
4,961
Other debtors
36
Prepayments and accrued income
1,928
6,925		 Total
£
249,857
231,007
16,881
247,888
1,969
18,850
2024
£
19,688
2024
£
570
-
1,756
2,326		 Total
£
249,857
231,007
16,881
247,888
1,969
18,850

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

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

11.
Creditors: amounts falling due
within one year
Trade creditors
Other taxation/social security
Other creditors
Accruals
Deferred income (note 12)
12.
Deferred income
Balance at 1 April 2024
Amount deferred in the year
Balance at 31 March 2025		 2025
£
26,003
-
160
8,209
1,500
35,872		 2024
£
13,358
1,577
90
14,114
-
29,139
£
-
1,500
1,500

Deferred income relates to partnership income received in advance for the year ending 31 March 2026.

13. Limited by guarantee

The private limited company is registered in EW - England & Wales, is limited by guarantee, and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 March 2025 there were 7 members.

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

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

14. Unrestricted funds Brought Incoming Outgoing Transfers Carried
forward resources resources forward
£ £ £ £ £
General fund 56,850 264,790 )
(275,181		 12,293 58,752
Designated funds:
Publishing 1,610 - - )
(1,610		 -
Live Art UK 7,192 - - )
(282		 6,910
Rent and staffing 80,000 - - - 80,000
Server Fund 2,000 - - - 2,000
147,652 264,790 )
(275,181		 10,401 147,662

Publishing

This fund was allocated to publishing projects in 2024/25.

Live Art UK

Designated funds related to small enhancement grants for member organisation, to be carried forward.

Rent and staffing

A strategic reserve, equivalent to six month's rent and an allocation for staff costs; see Trustees' Report for more detail.

Server Fund

Designated funds towards appropriate replacement of LADA's digital file management system, to be carried forward.

Docusign Envelope ID: 48EFCB7B-926E-417A-853E-C8DEDC358CBE

Live Art Development Agency

(Limited by Guarantee)

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

15. Restricted funds Brought Brought Incoming Outgoing Transfers Carried
forward resources resources forward
£ £ £ £ £
Fixed assets 10,401 - - )
(10,401		 -
Research and Development - 20,000 )
(20,000		 - -
10,401 20,000 )
(20,000		 )
(10,401		 -

Fixed assets

This fund relates to a grant from Arts Council England, to help support the purchase of a leasehold interest on our new facility for a six year period, and equipment/fittings for the space. 2024/25 was the final year of this grant's apportionment.

The balance at 31 March 2025 is attributable to: £ - Leasehold land and buildings

Research and Development

Simon Chaplain's donation of £22,000 was given with a specific purpose to support the research and practice development of live art practitioner Brian Lobel with a grant of £20,000, in recognition of his contribution to the field of Live Art. £2,000 was given to LADA as an unrestricted donation going toward LADA's core operating costs.

16. Analysis of net assets between funds

Analysis of net assets between funds
General
Designated
funds
funds
£
£
Fund balances at 31 March 2025
are represented by:
Tangible fixed assets
1,969
-
Net current assets
56,783
88,910
58,752
88,910		 Total
£
1,969
145,693
147,662

17. Transactions with trustees

Frances Cooper, a trustee, was paid consultancy fees totalling £nil (2024 - £3,383) by the charity during the year.

18. Related party transactions

During the year there were no related party transactions.