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← South Asian Arts-Uk

2025-03-31-accounts

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REGISTERED COMPANY NUMBER: 03391845 (England and Wales) REGISTERED CHARITY NUMBER: 1080292

South Asian Arts - UK

Report of the Trustees and

Audited Financial Statements for the Year Ended 31 March 2025

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South Asian Arts - UK

Contents of the Financial Statements for the Year Ended 31 March 2025

Page
Reference and Administrative Details 1
Report of the Trustees 2 to 9
Report of the Independent Auditors 10 to 11
Statement of Financial Activities 12
Balance Sheet 13
Cash Flow Statement 14
Notes to the Cash Flow Statement 15
Notes to the Financial Statements 16 to 22

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South Asian Arts - UK

Reference and Administrative Details for the Year Ended 31 March 2025

TRUSTEES Ms I A Soria-Donlan (Chair) Mr P H French (Treasurer) Mr J Singh Ms F Yang Mr R Chauhan Mr M Chaturvedi Ms R Nadarajan (appointed 16.4.24) Ms A Newman Mr B Ray Ms S Warburton REGISTERED OFFICE Mill 1, Ground Floor North Mabgate Mills Leeds LS9 7DZ

REGISTERED COMPANY NUMBER 03391845 (England and Wales)

REGISTERED CHARITY NUMBER 1080292

AUDITORS KJA Kilner Johnson Ltd (Statutory Auditors) Woodland House Woodland Park Bradford Road Cleckheaton BD19 6BW

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South Asian Arts - UK (Registered number: 03391845)

Report of the Trustees for the Year Ended 31 March 2025

The Trustees, who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the audited financial statements of the charity for the year ended 31 March 2025.

The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Companies Act 2006. The Trustees are also responsible for safeguarding the assets of the charity and hence taking reasonable steps for the prevention and detection of fraud and other irregularities.

The report has been prepared in accordance with the provisions applicable to companies subject to the small companies' regime as set out in Part 15 of the Companies Act 2006 and in accordance with the Charities SORP (FRS 102).

The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2025.

OBJECTIVES AND ACTIVITIES

Objectives and aims

South Asian Art UK (SAA-uk) is a registered charity, and a company limited by guarantee, established in Leeds in 1997 as a centre of excellence and talent development hub for South Asian Classical music and dance. Our focus as a pioneering charity organisation, is on celebrating, educating, creating, presenting and promoting music and dance, as well as pushing the boundaries of how traditional and contemporary South Asian arts are taught, performed, and experienced by audiences, in the heart of the community, across Leeds, the region, nationally and internationally. SAA-uk believes South Asian performing arts are integral to the UK's cultural diversity and deserve to be championed.

SAA-uk aims to achieve this through our mission which is:

To enrich people's lives through the engagement and participation in traditional and contemporary South Asian music and dance.

Objectives, strategies and activities

Public benefit

The trustees confirm that they have complied with the requirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.

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South Asian Arts - UK (Registered number: 03391845)

Report of the Trustees for the Year Ended 31 March 2025

OBJECTIVES AND ACTIVITIES

Use of volunteers

SAA-uk has a small but dedicated group of volunteers who assist us in the delivery of academy classes, concerts and projects and act as ambassadors for the charity. Volunteer expenses (meal and travel) are re-imbursed.

SAA-uk's primary organisational risks include:

Strategies SAA-uk employed to mitigate these risks include:

STRATEGIC REPORT

Financial position

The Net Income for the year has reduced to £128,910 (2024/25) from £146,173 (2023/24) principally due to the increases in costs arising from the higher staffing levels.

The Total Funds Carried Forward at the year-end have increased from £195,352 (2023/24) to £324,262 (2024/25). As was stated last year, it is always important to maintain sufficient reserves to provide financial security during periods of unexpected adverse conditions (e.g. a Covid pandemic), but it is also important to use as much of our funding as possible to further the aims of the charity. The Trustees are very aware of the need to keep these two aims in balance.

Income from Trusts and Foundations increased from £20,003 (2023/24) to £52,000 (2024/25). This is an income stream that SAA-uk is targeting to diversify its funding base and it is pleasing that progress is being made.

Income from academy fees were down from £34,855 (2023/24) to £27,373 (2024/25) reflecting slightly lower participation, particularly in the Bharatanatyam classes. However, academy costs were also down from £104,101 (2023/24) to £99,452 (2024/25) reflecting some changes in the staffing levels in the academies. Consequently, there was only a small increase in the net cost of the academies from £69,246 (2023/24) to £72,079 (2024/25).

In order to make the most of the increase in funding from the Arts Council England, the staff team has been expanded over the past two years. There was an increase in 2023/24, and the staff expansion continues to be steadily developed in 2024/25 with staff-related costs (Wages, Social Security, Pensions) rising to £349,210 (2024/25) from £291,597 (2023/24).

Artists Fees have fallen from £98,342 (2023/2024) to £66,413 (2024/25). In 2023/24 SAA-uk made an investment of £32,000 into a highly successful tour of musicians playing the original music of Jasdeep Singh Degun. No investments of this size were made in 2024/25.

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South Asian Arts - UK (Registered number: 03391845)

Report of the Trustees for the Year Ended 31 March 2025

STRATEGIC REPORT

SAA-UK’s primary financial risks include:

Strategies SAA-uk employed to mitigate these risks include:

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South Asian Arts - UK (Registered number: 03391845)

Report of the Trustees for the Year Ended 31 March 2025

STRUCTURE, GOVERNANCE AND MANAGEMENT

Nature of governing document

The charity is constituted as a company limited by guarantee and is therefore governed by a Memorandum and Articles of Association (reviewed and updated in 2024). The directors of the company are also trustees of the charity. Eligibility for membership of the charity and membership of the board of trustees is governed by the Memorandum and Articles of Association. There are no restrictions in the governing document on the operation of the charity or on its investment powers, other than those imposed by general charity law.

Recruitment and appointment of trustees

When new or additional trustees are required then beneficiaries and client organisations are invited to submit nominations and, subject to their compliance with the Memorandum and Articles of Association, they are considered by the governing body of trustees for election.

I nduction and training of trustees

SAA-uk Board of Trustees new members are provided with an induction pack including previous board papers, policies and practice for board members. SAA-uk provides continued training in board development as identified and agreed by senior management team and trustees.

Organisational structure

SAA-uk is governed by a board of trustees, who are reported to by management team on a quarterly basis. The organisational structure is composed of Chief Executive and Artistic Director, Fundraising and Training Manager, Marketing and Creative Communities Manager, Producer and Performance Programme Manager, Music Development Officer, Dance Development Officer, Marketing and Communications Assistant, Creative Communities Engagement Officer, Senior Administration Officer, Education and Learning Co-ordinator, Early Years and Music Tutor, HeadStart Trainees, Bookkeeper, Freelance Artists and Volunteers.

Relationships with related parties

The charity is under the control of the trustees. The trustees consider that there is no controlling party of the charity.

Key financial KPI's

All budgets are drafted with a strong awareness of associated risks. Which is the reasoning behind each activity being planned with fluidity in mind, so that we can respond with agility to any risks, make carefully considered cuts without a negative impact on the charity’s mission as a whole:

Key non-financial performance indicators

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South Asian Arts - UK (Registered number: 03391845)

Report of the Trustees for the Year Ended 31 March 2025

2024-25 Key Achievements and review

In 2024-25 we have moved forward with exciting progress, developing our creative communities programme, enriching our education and learning offer, and presenting a varied array of special projects. This year saw the emergence of new works that emphasised the value of collaboration, bold creativity, and Yorkshire-based talent: across an ambitious 18 events, we offered the stage generously to local, global, emerging and established artists, showcasing the endless possibilities of South Asian music and dance.

Emboldening our connections to local centres of culture and creativity, we maintained strong relationships with our long-term partners Seven Arts, Leeds International Concert Season, and Howard Assembly Room. Alongside this, bringing contemporary and classical Indian music to new venues has allowed us to diversify our audience and further develop our inclusivity practices. 33% of our events in Leeds were free of charge, thanks to strategic partnerships and continued support from our funders; and where this was not possible, we offered discounted prices for all shows, easing financial barriers to experiencing arts and cultural events in the present cost of living crisis.

The Spring/Summer season of events introduced a unique new project: Sacred Music: Celebrate the Spirit, an exploration of the sacred music of the Hindu, Islamic, Sikh, and Christian faiths presented in partnership with Howard Assembly Room and Leeds International Concert Season. This original piece was followed by SAA-uk’s much-anticipated all-nighter of Classical music, Summer Solstice Festival returning once again for the 13th consecutive year to celebrate female creativity and empowerment. Motivated by the same spirit of innovation, the Autumn/Winter season was bursting with works released to the world for the very first time. Funded by PRS Foundation as part of the Talent Development Network, 12 multi-disciplinary artists based in the UK shared their new work, Travel Light, a poignant confluence of music, poetry, and visuals; and in the new year, Indian Classical musician, Kirpal Singh Panesar, successfully platformed his newly commissioned work supported by PPL Giving, Melodies of Love, to an audience of 175 listeners.

In this financial year our capacity increased from 8 full-time and 1 part-time members, to 9 full-time and 3 part time. The increase of capacity was to support the development of the Creative Communities and Education programmes, as well as the introduction of our HeadStart programme. This two-year, full-time training for individuals aged 16-30 from global majority backgrounds, re-opened its doors in September 2024, offering a competitive salary, comprehensive training, mentoring, and placement opportunities to two selected trainees.

This year we also worked with 80 freelance artists, including young and international performers, and supported the development of global majority artists to create and present live original pieces through Sahara: our programme focusing on breaking down barriers for underrepresented artists rooted in South Asian music and dance, providing targeted support to help them reach their potential. From financial contribution towards creating new work to industry talks relevant to their career’s stage, signposting of opportunities, through to drafting funding applications. This year we were able to support more artists than ever before: 17 musicians and dancers who presented 5 original pieces to a live audience.

Another big achievement of the year was establishing our Creative Communities Programme, starting off with a city-wide listening exercise to gather the cultural and creative needs of Leeds South Asian communities. From September 2024 to March 2025 a total of 9 Chai & Chats sessions were held, connecting us with various groups: from young learners of South Asian music and dance to local artists and creatives, and international students from the University of Leeds. These sessions took the format of an informal focus group, with each Chai & Chats shaped specifically for the invited audience. In January 2025, we joined forces with the National Poetry Centre and held a Chai & Chats for local poets to share their cultural and creative needs. Further to this, two Chai & Chats led by placement students were held at the University of Leeds campus, to ensure the voice of the Leeds student population was heard.

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South Asian Arts - UK (Registered number: 03391845)

Report of the Trustees for the Year Ended 31 March 2025

Listening can take many different forms, so we set out to participate in some of the many cultural events and workshops happening in the city. This included Kenya Cultural Day in the Burmantofts and Richmond Hill ward, as well as supporting our team to train in Asset Based Community Development and join the conversations about Leeds as a Marmot City. Highlights of our creative communities programme so far have included establishing strong working relationships with seven Neighbourhood Hosts, with interest from others in joining the project next year. Although gathering participants for the Chai & Chats sessions has been a challenge initially, as relationships are established and networks build overtime it is slowly becoming easier. The many conversations we had during the Chai & Chats will shape the programming of our very first Pop-up Culture series, activating the localities and celebrating the creative cultures of Leeds during South Asian Heritage Month in Summer 2025

The expansion of the Education team, specifically the recruitment of an Academies Assistant, has given the organisation additional capacity to take on projects supporting the development of our students and their tutors, and to refine our education offer to ensure accessibility for all our 125 learners of South Asian music and dance. As of March 2025, there are 89 students enrolled in our Music Academy, attending our Tuesday and Sunday in person classes and our 1-2-1 online sessions. The Dance Academy continues to grow with a total 36 students, split between the three disciplines of Kathak, Bharatnatyam and Odissi.

The implementation of early years classes in our music academies is another core ambition we have been actively developing since 2023 through the Chhotu: Little One project, funded by Youth Music: however, the project which should have been concluded in March 2025 has been extended to June 2025 due to changes within the team and particularly the resignation of the Senior Creative Manager who was leading the project. To mitigate this unexpected challenge, we changed some of the timeline to fit opportunities for collaboration and training that presented themselves along the way. We are now closer than ever to have the confidence and skillset to deliver these sessions as part of our regular education offer, with the intention of Early Years becoming a permanent strand of our work and legacy of the Chhotu project.

Between July and August, we opened the doors to Sanskar Music Summer School for a week filled with rhythm, creativity, friendship, and discovery through the rich traditions of Indian classical music. Attended by 40 students, the 6 days of intensive and varied lessons were delivered by known tutors in the UK, international visiting artist Pandita Anuradha Pal, plus guest workshops by poet and academic Keisha Thompson, circus skills day, and two live Baithak concerts. Beyond our classes, we have also designed a series of Enrichment opportunities for students to share their learning and passion with the city of Leeds and learn from accomplished artists. This has included, performing at the Academy Sharing days, Go-And-See opportunities to attend live events, and opening for professional acts as part of the SAA-uk concert series.

Amongst many inspiring projects involving the talented young artists in our Academies, was YCC: Bradford and Leeds. This was a showcase of 13 young artists from Yorkshire who bravely stepped into the opportunity to be mentored by Dennis Rollins MBE and Sri Sairam, sharing their very own compositions in February 2025 at two live performances at Victoria Hall in Bradford and Leeds Conservatoire in Leeds. With learners aged under 18 making up the majority of the participant base, the YCC project encouraged us to reflect on how learning could be better tailored to support the growth of the young people learning with us.

We firmly believe that every child deserves the joy of music and dance, regardless of their background or circumstance, and that enriching and culturally relevant artistic experiences should be available to all. Throughout 2024-25, these intentions were turned into reality by funders, supporters, volunteers, and donors, supporting our various programmes of work and empowering young, talented musicians to continue their musical journey and shine.

This year we also ran our first successful crowdfunding campaign, The Future of Music. As part of Future Talent’s 20th Anniversary Celebrations, 12 outstanding young musicians from our academies have been given the incredible opportunity to perform their very own composition, Serendipity, at The Roundhouse in London, sharing the stage with peers from across the UK in April 2025. The campaign was launched in December 2024 to support travel and accommodation costs with a £5,000 target. Our community of supporters came together to reach this financial goal, gifting these young artists the unforgettable memory of sharing their music on a world-class stage.

In the area of Governance, this financial year we were delighted to welcome 3 new members to the Board of Trustees. Each bringing a wealth of expertise across diverse fields including healthcare, finance, and project management, their unique experiences and perspectives have been invaluable additions to the Board.

To build on the momentum of the recent developments in our governance and to further involve artists, participants, supporters and audience members in our decision-making process, a SAA-uk's "Step Change" Away Day was organised in May 2024. Facilitated by arts consultant team FentonMicklem, the day was filled with inspiration, collaboration, and growth: team, trustees, freelancers, and friends of the organisation came together to share ideas, strengthen bonds, and explore new possibilities for our future endeavours.

The approach of SAA-uk’s Chair, Board of Trustees, and team continues to be entrepreneurial and Kaizen- small continuous steps - refining, innovating, seizing opportunities, and taking calculated risks to evolve, grow, be resilient. With the growth of our team, we have been working with HR consultants Croner, who support us to maintain up-to-date standards in regard to HR laws, policies, and health and safety of our office. In 2024-25 we have continued working alongside organisations of different sizes, using our expertise to support them as a co-commissioner, advisor or programmer, to push the boundaries of their work, creating opportunities for innovation and risk-taking through embracing a wide range of influences and practices, giving audiences the opportunity to experience exceptional, diverse music and dance.

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South Asian Arts - UK (Registered number: 03391845)

Report of the Trustees for the Year Ended 31 March 2025

For over 27 years, SAA-uk has worked towards creating an organically diverse program of artists that strives to represent the height of ambition, talent and skill in South Asian music and dance. Over the last 12 months we have continued to grow as a talent development hub, a centre of excellence that is committed to ensuring that access is inclusive to art and culture for everyone. We have emphasised a commitment to meaningfully building relationships with arts organisations in Leeds and national networks, including Arts Together, Child Friendly Leeds, Family Arts Campaign, and Culture Consortium Leeds. These enriching perspectives and observations have fortified our own planning and ambitions for future programming, which is firmly committed to ensuring our work is accessible and welcoming to all.

Some examples of this are:

STRUCTURE, GOVERNANCE AND MANAGEMENT

Arts Council England and Leeds City Council continue to provide funding for the organisation, and we are most grateful for their continuing support.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Company Number 03391845 (England and Wales)

Registered Charity number 1080292

Registered office

Mill 1, Ground Floor North Mabgate Mills Leeds LS9 7DZ

Trustees

Ms I A Soria-Donlan Chair Mr P H French Treasurer Ms S Warburton Vice-Chair Ms F Yang Mr R Chauhan Mr M Chaturvedi Ms A Newman Mr B Ray Ms R Nadarajan (appointed 16.4.24)

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South Asian Arts - UK (Registered number: 03391845)

Report of the Trustees for the Year Ended 31 March 2025

Auditors

KJA Kilner Johnson Limited Network House Stubs Beck Lane Cleckheaton BD19 4TT

Bankers

Lloyds Leeds City Branch Park Row Leeds West Yorkshire 17/12/2025 Approved by order of the board of trustees on: ............................................. and signed on its behalf by:............................................................................ C DocuSigned by: 8204BEB415434 AB... Name: Paul Hilton French (Treasurer)

STATEMENT OF TRUSTEES' RESPONSIBILITIES

The trustees (who are also the directors of South Asian Arts - UK for the purposes of company law) are responsible for preparing the Report of the Trustees 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. Under that law, the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law).

Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

AUDITORS

The auditors, KJA Kilner Johnson Ltd (Statutory Auditors), will be proposed for re-appointment at the forthcoming Annual General Meeting.

Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by: 17/12/2025

.............................................................................. C DocuSigned by: 8204BEB415434 AB... Mr P H French - Trustee

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Report of the Independent Auditors to the Trustees of South Asian Arts - UK

Opinion

We have audited the financial statements of South Asian Arts - UK (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

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Report of the Independent Auditors to the Trustees of South Asian Arts - UK

Our responsibilities for the audit of the financial statements

We have been appointed as auditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

While planning our audit, we have enquired of management and those charged with governance around any actual or potential litigation and claims against the company for non-compliance with specific laws and regulations. The same has been done in respect of any instances of fraud or irregularities. The responses received have been communicated with the engagement team at the planning stage.

We have not been informed of any specific laws or regulatory related issues that could materially impact the financial statements in addition to this, there has been no suspected fraud or irregularities reported to us.

While planning our audit the engagement partner selected appropriately trained staff to be engaged in the audit and the team are allocated based on their competence and capabilities.

The audit work undertaken is a substantive work based audit approach, reviewing to source documentation where appropriate and includes a review and walkthrough of the systems which management have put in place. These tests are directional. Therefore, they are designed in a way to maximise audit effectiveness and the possible identification of any material fraud, irregularities, or instances of systems and procedure breaches. Our testing did not identify any issues that require additional reporting.

These tests and other areas of our audit work are designed to enhance our ability to detect cases of material fraud and certain irregularities. It should be noted that our audit is carried out using a material based approach and therefore does not test every transaction, as such it would not detect all instances of irregularities and specifically fraud which is inherently more difficult to detect.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work, for this report, or for the opinions we have formed.

for and on behalf of KJA Kilner Johnson Ltd (Statutory Auditors) Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006 Woodland House

Woodland Park Bradford Road Cleckheaton BD19 6BW

18/12/2025 Date: .............................................

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South Asian Arts - UK

Statement of Financial Activities for the Year Ended 31 March 2025

Unrestricted
Restricted
fund
funds
Notes
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
2
703,379
64,500
Charitable activities
4
Charitable activities
33,974
-
Investment income
3
7,646
-
Other income
24,323
-
Total
769,322
64,500
EXPENDITURE ON
Charitable activities
5
Charitable activities
211,342
64,375
Other
429,195
-
Total
640,537
64,375
NET INCOME
128,785
125
RECONCILIATION OF FUNDS
Total funds brought forward
180,352
15,000
TOTAL FUNDS CARRIED FORWARD
309,137
15,125		 2025
Total
funds
£
767,879
33,974
7,646
24,323
833,822
275,717
429,195
704,912
128,910
195,352
324,262		 2024
Total
funds
£
738,060
41,920
2,343
17,310
799,633
295,887
357,573
653,460
146,173
49,179
195,352

The notes form part of these financial statements

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Docusign Envelope ID: 96EC2FF4-DFA4-462C-A8F0-CEDDE2A7D374Docusign Envelope ID: B9D5F99A-24DB-4F22-BB68-F33E25D12364

South Asian Arts - UK (Registered number: 03391845)

Balance Sheet 31 March 2025

2025 2024
Unrestricted Restricted Total Total
fund funds funds funds
Notes £ £ £ £
FIXED ASSETS
Tangible assets 11 12,575 - 12,575 8,284
CURRENT ASSETS
Debtors 12 4,761 - 4,761 27,849
Cash at bank 356,765 15,125 371,890 235,046
CREDITORS 361,526 15,125 376,651 262,895
Amounts falling due within one year 13 (64,964) - (64,964) (75,827)
NET CURRENT ASSETS 296,562 15,125 311,687 187,068
TOTAL ASSETS LESS CURRENT LIABILITIES TOTAL ASSETS LESS CURRENT LIABILITIES 309,137 15,125 324,262 195,352
NET ASSETS 309,137 15,125 324,262 195,352
FUNDS 14
Unrestricted funds 309,137 180,352
Restricted funds 15,125 15,000
TOTAL FUNDS 324,262 195,352

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not deposited notice, pursuant to Section 476 of the Companies Act 2006 requiring an audit of these financial statements.

The trustees acknowledge their responsibilities for

(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been audited under the requirements of Section 145 of the Charities Act 2011.

17/12/2025

The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:

............................................. C 8204BEB415434DocuSigned by: AB... Mr P H French - Trustee

The notes form part of these financial statements

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Docusign Envelope ID: 96EC2FF4-DFA4-462C-A8F0-CEDDE2A7D374Docusign Envelope ID: B9D5F99A-24DB-4F22-BB68-F33E25D12364

South Asian Arts - UK

Cash Flow Statement for the Year Ended 31 March 2025

Notes
Cash flows from operating activities
Cash generated from operations
1
Interest paid
Net cash provided by operating activities
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the
reporting period
Cash and cash equivalents at the beginning of
the reporting period
Cash and cash equivalents at the end of the
reporting period		 2025
£
144,605
(866)
143,739
(6,895)
(6,895)
136,844
235,046
371,890		 2024
£
168,930
(796)
168,134
(4,832)
(4,832)
163,302
71,744
235,046

The notes form part of these financial statements

14

Docusign Envelope ID: 96EC2FF4-DFA4-462C-A8F0-CEDDE2A7D374Docusign Envelope ID: B9D5F99A-24DB-4F22-BB68-F33E25D12364

South Asian Arts - UK

Notes to the Cash Flow Statement for the Year Ended 31 March 2025

1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES

2025 2024
£ £
Net income for the reporting period (as per the Statement of Financial
Activities) 128,910 146,173
Adjustments for:
Depreciation charges 2,603 2,749
Interest paid 866 796
Decrease/(increase) in debtors 23,088 (21,598)
(Decrease)/increase in creditors (10,862) 40,810
Net cash provided by operations 144,605 168,930
ANALYSIS OF CHANGES IN NET FUNDS
Net cash At 1.4.24
£		 Cash flow
£		 At 31.3.25
£
Cash at bank and in hand 235,046 136,844 371,890
235,046 136,844 371,890
Total 235,046 136,844 371,890

2. ANALYSIS OF CHANGES IN NET FUNDS

The notes form part of these financial statements

15

Docusign Envelope ID: 96EC2FF4-DFA4-462C-A8F0-CEDDE2A7D374Docusign Envelope ID: B9D5F99A-24DB-4F22-BB68-F33E25D12364

South Asian Arts - UK

Notes to the Financial Statements for the Year Ended 31 March 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings - 25% reducing balance

Computer equipment -25% reducing balance

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2. DONATIONS AND LEGACIES

Donations
Grants
Grants received, included in the above, are as follows:
Arts @ Leeds
LMEP
Arts Council NPO		 2025
£
58,549
709,330
767,879
2025
£
25,000
-
684,330
709,330		 2024
£
32,233
705,827
738,060
2024
£
16,500
5,000
684,327
705,827

continued...

16

Docusign Envelope ID: 96EC2FF4-DFA4-462C-A8F0-CEDDE2A7D374Docusign Envelope ID: B9D5F99A-24DB-4F22-BB68-F33E25D12364

South Asian Arts - UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

3. INVESTMENT INCOME

INVESTMENT INCOME
2025 2024
£ £
Interest 7,646 2,343
INCOME FROM CHARITABLE ACTIVITIES
Charitable activities 2025
Charitable
activities
£
33,974		 2024
Total
activities
£
41,920

4. INCOME FROM CHARITABLE ACTIVITIES

Income from charitable activities relates to Academy Fees of £27,373 (23-24: £34,855), Ticket Sales of £6,016 (23-24: £5,731.49), Instrument Sales of £nil (23-24: £800), Grading Fees of £nil (23-24: £320), Grading Books of £35 (23-24: £213.30 and Other Grants of £550 (23-24: £nil)).

5. CHARITABLE ACTIVITIES COSTS

CHARITABLE ACTIVITIES COSTS
Charitable activities Direct
Costs
£
275,717
SUPPORT COSTS
Other resources expended Governance
costs
£
8,400

6. SUPPORT COSTS

7. NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Auditors' remuneration 2025
2024
£
£
8,400
8,400
Depreciation - owned assets 2,604
2,749

8. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

9. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Admin & Management		 2025
£
311,522
24,411
13,277
349,210
2025
11		 2024
£
263,221
17,686
10,689
291,596
2024
11

No employees received emoluments in excess of £60,000.

continued...

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Docusign Envelope ID: 96EC2FF4-DFA4-462C-A8F0-CEDDE2A7D374Docusign Envelope ID: B9D5F99A-24DB-4F22-BB68-F33E25D12364

South Asian Arts - UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

10. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Unrestricted
Restricted
fund
funds
£
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
686,560
51,500
Charitable activities
Charitable activities
41,920
-
Investment income
2,343
-
Other income
17,310
-
Total
748,133
51,500
EXPENDITURE ON
Charitable activities
Charitable activities
259,387
36,500
Other
357,573
-
Total
616,960
36,500
NET INCOME
131,173
15,000
RECONCILIATION OF FUNDS
Total funds brought forward
49,179
-
TOTAL FUNDS CARRIED FORWARD
180,352
15,000
11.
TANGIBLE FIXED ASSETS
Fixtures
and
Computer
fittings
equipment
£
£
COST
At 1 April 2024
51,543
30,109
Additions
-
6,895
At 31 March 2025
51,543
37,004
DEPRECIATION
At 1 April 2024
50,772
22,596
Charge for year
184
2,420
At 31 March 2025
50,956
25,016
NET BOOK VALUE
At 31 March 2025
587
11,988
At 31 March 2024
771
7,513		 Total
funds
£
738,060
41,920
2,343
17,310
799,633
295,887
357,573
653,460
146,173
49,179
195,352
Totals
£
81,652
6,895
88,547
73,368
2,604
75,972
12,575
8,284

continued...

18

Docusign Envelope ID: 96EC2FF4-DFA4-462C-A8F0-CEDDE2A7D374Docusign Envelope ID: B9D5F99A-24DB-4F22-BB68-F33E25D12364

South Asian Arts - UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade debtors
Prepayments
13.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Social security and other taxes
Other creditors
Accruals and deferred income
Accrued expenses
14.
MOVEMENT IN FUNDS
Unrestricted funds
General fund
Restricted funds
PRS Talent
The National Foundation Youth Music
Prism Cockayne Trust
Phonographic Performance
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
LCIP - Thrive
PRS Talent
The National Foundation Youth Music
Prism Cockayne Trust
Phonographic Performance
TOTAL FUNDS		 2025
2024
£
£
3,867
26,626
894
1,223
4,761
27,849
2025
2024
£
£
35,502
43,566
7,165
4,994
1,397
3,867
12,500
15,000
8,400
8,400
64,964
75,827
Net
movement
At
At 1.4.24
in funds
31.3.25
£
£
£
180,352
128,785
309,137
-
5,000
5,000
15,000
(12,000)
3,000
-
2,125
2,125
-
5,000
5,000
15,000
125
15,125
195,352
128,910
324,262
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
769,322
(640,537)
128,785
25,000
(25,000)
-
10,000
(5,000)
5,000
12,000
(24,000)
(12,000)
2,500
(375)
2,125
15,000
(10,000)
5,000
64,500
(64,375)
125
833,822
(704,912)
128,910

continued...

19

Docusign Envelope ID: 96EC2FF4-DFA4-462C-A8F0-CEDDE2A7D374Docusign Envelope ID: B9D5F99A-24DB-4F22-BB68-F33E25D12364

South Asian Arts - UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

14. MOVEMENT IN FUNDS - continued

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
The National Foundation Youth Music
TOTAL FUNDS
Comparative net movement in funds, included in the above are as follows:
Unrestricted funds
General fund
Restricted funds
LCIP - Thrive
LMEP
PRS Talent
The National Foundation Youth Music
Future Talent
TOTAL FUNDS
A current year 12 months and prior year 12 months combined position is as
Unrestricted funds
General fund
Restricted funds
PRS Talent
The National Foundation Youth Music
Prism Cockayne Trust
Phonographic Performance
TOTAL FUNDS		 Net
movement
At
At 1.4.23
in funds
31.3.24
£
£
£
49,179
131,173
180,352
-
15,000
15,000
49,179
146,173
195,352
Incoming
Resources
Movement
resources
expended
in funds
£
£
£
748,133
(616,960)
131,173
16,500
(16,500)
-
5,000
(5,000)
-
10,000
(10,000)
-
15,000
-
15,000
5,000
(5,000)
-
51,500
(36,500)
15,000
799,633
(653,460)
146,173
follows:
Net
movement
At
At 1.4.23
in funds
31.3.25
£
£
£
49,179
259,958
309,137
-
5,000
5,000
-
3,000
3,000
-
2,125
2,125
-
5,000
5,000
-
15,125
15,125
49,179
275,083
324,262

continued...

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Docusign Envelope ID: 96EC2FF4-DFA4-462C-A8F0-CEDDE2A7D374Docusign Envelope ID: B9D5F99A-24DB-4F22-BB68-F33E25D12364

South Asian Arts - UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

14. MOVEMENT IN FUNDS - continued

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

----- Start of picture text -----
Incoming Resources Movement
resources expended in funds
£ £ £
Unrestricted funds
General fund 1,517,455 (1,257,497) 259,958
Restricted funds
LCIP - Thrive 41,500 (41,500) -
LMEP 5,000 (5,000) -
PRS Talent 20,000 (15,000) 5,000
The National Foundation Youth Music 27,000 (24,000) 3,000
Future Talent 5,000 (5,000) -
Prism Cockayne Trust 2,500 (375) 2,125
Phonographic Performance 15,000 (10,000) 5,000
116,000 (100,875) 15,125
TOTAL FUNDS 1,633,455 (1,358,372) 275,083
----- End of picture text -----

During the year the charity received restricted grants and donations from the following programmes; Leeds Cultural Investment Programme - Thrive (previously known as Arts @ Leeds) of £25,000 (2024: £16,500), Leeds Music Education Partnership (LMEP) of £0 (2024: £5,000), PRS Talent of £10,000 (2024: £10,000), Youth Music Foundation of £12,000 (2024: £15,000), Future Talent of £0 (24: £5,000), The Prism Trust £2,500 (2024: £0) and Phonographic Performance £15,000 (2024: £0).

All restricted trusts and donations income received during the year have been disbursed by the year end except for; The Prism Trust of £2,125, Phonographic Performance of £5,000, PRS Talent of £5,000 and Youth Music Foundation of £3,000, which have been deferred for arts projects to occur in FY 2025-26.

During the year the organisation received funding from the following organisations for the purpose specified below:

Fund
LCIP - Thirve
PRS Talent
The National
Foundation Youth
Music
Prism Cockayne Trust
Phonographic
Performance		 Amount
advanced in
Fy 24-25 (£)
25,000
10,000
12,000
2,500
15,000		 Purpose of funding
Funding for a series of classical and contemporary music and dance
performances
PRS Talent Development Network - Spotlight 2024
Funding for the Chhottu programme
Collaborative performance between Indian bands, The Tapi Project, The
Third Orchestra and Tomorrow's Warriors
General funding for the 'Talent Nxgen' project

continued...

21

Docusign Envelope ID: 96EC2FF4-DFA4-462C-A8F0-CEDDE2A7D374Docusign Envelope ID: B9D5F99A-24DB-4F22-BB68-F33E25D12364

South Asian Arts - UK

Notes to the Financial Statements - continued for the Year Ended 31 March 2025

15. RELATED PARTY DISCLOSURES

There were no related party transactions for the year ended 31 March 2025.

22