REGISTERF.D COMPANY NUMBER: 03961654 (Eng14nd and Wale5} RECISTERED CHARrrY MJMBER: 1086229 Re tsrt of tht T$(ee5 and Unaudited Financial Statements for the Year Ended 31 M*reh 2024 for ASIAN ARTS AGENCY Gynch Shaw Maurice & Co Chartered Certifid Accountants Rear of No 2 SPM House Glenthorne Road Fricrn Barnet LA)nth)n N113HT
ASIAN ARTS AGENCY Contents of the FinaNcial Staternents for the Year Ended 31 M2r¢h 2024 Page Report of the Trnsttes I to 5 IndependeMI Exwmiier's Report Statement of Fillaneial Activities 7 to 8 Bglance Sheet 9 10 10 Notes to the FinAnei&l Sts¢ements 11 to 16
ASIAN ARTS AGENCY LREGISTERED NUMBER: 03961654 Re rt of tht Trustees for the Year Ended 31 Mar¢b 2024 The trustees present their report and financial statements for the year ended 31 Mh 2023. The financial statements have been prepared in accordance with the accounttng policies set out in note I to ihe financia] statents and comply H'ith the charity's governing documenL the Companies Act 2006 and "Accounting and Reporting by Charities: Statement oFRecommcnded Practice applicable to charities preparing their accounts in accordance with the Finaniiaj Reporting Standard applicable in the UK and Republib of Ircland (FRS 102)" (&5 amended for accounting periods commencing from l January 2019) ObjectiVC5 and activiti&8 The charity's objectives are to mainstream Asian Arts in ihe South West of England 3nd natiOnlY. The charity's mission, based in Bristol the Asian Arts Agency SuPFs artists and prnctitioners to deliv¢r traditional and Contemr South Asi8n arts, encouraging engagement from all comrnuniti¢5 and from venues IT] the South West and nationa]ly. (hr key aims are: - to eOrage high quality South Asian arts practice in mainstream venues - support prot"essional development of South Asian artists - bring inlemationa] South Asian artisls to the South West of England - enwurag¥ innovation in South Asian arts practice and developments - support contemporary. experimental and new wurk dcvcloped by Ilritish Asian artists - celebrate a[ pn)mofr South Asian arts to the wholc community - ¥nablc (x)mmunities to cxperience and participate in South Asian arts The trustr¢s have paid due regard to guidance issued by the Charity Commission in deciding what activities Gharity should unda1ake. The main activities undertaken to achieve the charity's objectives are the running of various events to allow Asian artists to showcase the Asian culture to all communities in the South West and nationally. Page I
ASIAN ARTS AGEIYCY REGISTERED NUMBER: 03961654J Re )ort of the TNstees for the Year Ended 31 March 2024 ORIECTIVES AIYD AclEs Achievements and Perforniance This year the Agency managed to resume delivery of our live perfomiance progrdmme after a long period of l(Kkdown and uncertainty. We delivered 31 live krfOlanCeS which included Coordinating music tours and working with festivals and venues both in the South Wc5¢ and nationally. In total our programme involved 56 musicians and 117 freelancers in delivering this work We wesemed and ts)ur¢d a range of nattonal and international incoming artistes including the premiere of uK-basl Roopa Panasels TW work 'ATMA'. prcscnted live in Llristol and ai the Barbitran London (and rele&sed online). iours by World reTh)wned musicians Shahid Pervez (India) and Rizwan Mua72Am (Pakistan). nephews of Nu8rat Fateh Ali Khan. and UK b&scd violin player Jyotsna Srikanth. Thcrc is still some way to go in bringing stability back our livc music programme due to venues SIggling with increased costs and re-building audiences after lockik)wns. huwcver we saw some e)uragIng signs ofthings coming back to a level ofnuTmality this y. A major achievemt7rt was our succtssful Arts COU11 England application to secure NPO (revenuc) funding for the nexl thrt% yeaw5. This will help us to eonsolidatc ar incrwe the srale and dq)th of our WO in firturc. In particular the Agency will be able to step up our supwjrt for the South Asian music scclor thft)ugh an increase in the numlKr of live performances wc wcsenl and supwrt: new music cummissions . and building on our work in suprx)rting artisles by iaking for¥vard new initiatives infornied by thc Breaking lknriers PTojecL New Music commilonS and Support for Artistes We conlinucd our inrrflvalive Breaking Barri¢rs programm¢ which aims lo supw)rt artistes frorn a South Asian backwund. This programme was devised to SUPF¥)rt musicians through the difficult lime tlw faced due to venue closures and loss of live perfoTmance wod( opp)rtunitie3 during lock(lowns. As part of this we launched our new 'Emerge' PTograJnme targeted at support musicians and ptDducers" we offered bursarie4 trainin& and mentoring supw)rt to 8 musi¢iork8 to gain a better understanding of the music sedor and to plan and building their careers. Six training sessions were run including an intrnduction to the muslc sector and other sessions focused on digital marketin& Copyrights atKI royalties for recorded music. using social media; a final session 8mund production and OrdIng techniques will lake place next year at Real World Studios in Wiltshir¢. Live events We delivered major perforn)ances wilh Grnmmy nominee Sarod player Amjad Ali Khan. UK-based artiste J&8on Singh. Roopa Panaser, and arranged national ts)urs with Jyotsna Srikanth. and Suft artists from Pakistan, Rizwan Muazrn and sitar player Shahid Pervez. Ow work was delivered at several venues including Si. Georges Bristol, Glastonbury, Southampton, WOMAD Festival. and at King's Pla(z and the Barbican in London. In total we reached allenCeS of more than 30,(M)O for our live events. We also worked with Bristol-b&sed Rythmn Utsav Ordinating an event which offered opwrtunities for children and young people from Bristol to leam and s]¥)wc&e their talenL Diversity and Inclusion Addressing and advising on i&4ues rclated to diversity and inclusion fornied a key part of our wotk and we ¢ollaborated with s¥vcral 8ti*egic FK)dies including Art5 Council :gIan" our long-terni suprtCr, Bristol City cou11. British c(bu11, and WECA (Wesi England Combined Authority). Led by uur Director Jaswinder Singh, several discussions and mcetings look places to incTease diversty inclusion in the arts sector. Use of Digttal TethTh)lo&v and ClmUnICation The Agcncy is reSnding to the new OPTM)rtunitie8 offercd by w01ng digttally in a number of way& We produced new online content to publish and promotc Im digital platforms" SUp[led digital production and distribution through Breaking Barricrs" and rcl¢ased a new music albutn with British sitarist R(pa Panaser. Her album entiiled Subha Imorning) was an instant hit with thc press and media and went straight into top 10 world rnusic albums by Songlines magazine. In addition. we have made greater use of digital twhnology in promoting and publicising th¢ Aget)cy's work. Summary Page 2
ASIAN ARTS AGENCY LREGISTERED NUMBER: 0396165J4 RAe )ort of Ibe Trustees for the Year Ended 31 March 2024 2022123 has been a year of CoVery following the negative impact of Covid on the music industy, and, in particular, the live music sector. We were able to resume our work in CLK)rdinating and presenting World class music to audiences around England,. supporting UK-b&8ed musicians to create and promote new work digitally and via live perfornian(*' touring international artistes of thc highest Slandin& and Thaintaining thc Agency'5 presence &8 one of thc leading promotcr and suppurtcr of South Asian music in the UK. Wc resm)ndcd very sItive1Y lo Ihc challenge8 being faced by Souih Asian musicians with a new programmc of artists SUP[, which h&8 resultcd in severa] successful outcome& the full iTnpact of which will be felt ovcr the next few years. FINANCIAL REVIEW Financia] review The charity has a wlicy to hold reserves equa] to six months, core expenditu The charity'5 reserves of £4214(K) at th¢ year ended 31 March 2023 meet this target of which £317,319 is restricted. The trustees have assessed the major risk8 to which the charity is extx)sed. and are satisficd that systems are in place to mitigate eXSure lo the major risks. STRiicfuRE, GOVERNANCE AND MANAGEMTr;iYr Governing dotum¢nt The charity is controlled by its governing docum¢nt, a deed of trusL and constitutes a limitsd company, limited by guardntee, &s defined by the Compsnies Act 2006. Page 3
ASIAN ARTS AGENCY REGISTERED NUMBER: 03961651) ort of thè Trustees for the Year EAded 31 Mlreh 2024 The trustee4 who are also the dIreor$ for the puryN)se of company law, atKI who served during the year and up to the date ofsignature of the fFnan¢ial sL?temtS were.. Ms L Porter Mr A G K Ismail Mr S Marwah Mr S R Singh MBElc£&sed in Septemkr 2022) Mr T Corum The apFM)intmeni of tte¢S is a rigorous pruccs& Tnjstcrs are recruitcd via a mix of rccruitment and invites ¢[dIng on the experience and skills they have that are rcIeVa the role. B¢forc appointinent all trUsIe havc to go through a ihorough intervicw process to assess their suitability for the role. one of thc truste£s h&s any bcncficial irrtcrest in the company. All of the trustees are members ol Ihc company and guarante£ to contribufr £1 in the eycnt of a winding up. Key management remunernlion durin8 thc year amounted to £73J95 Thc tru5te&s. who are also the dirtorS of AsiaTt Arts Agency for thc Purpo Df rnpanY law, are twKm5ible for prcparing the Truslees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting SthT]dards (United Kingdom Generdlly Acceptol Accounling Praclice). Company Law require5 the trustees lo preptre financial stalcments for ¢ach financi year which give a true and fair view of th¢ slate of atyairs of the choxity and ofthe incoming resoueS and applicaiion of resources, including the income and expenditure, of the charitable company for that year. In preparing these financial statem¢nts. the trus*es are required to.. - select suitable accounting lI¢jeS and then apply them consistentlyj - observe ihe methods and principles in the Charities SORP. - make judgements and estimates that are reagonable and pnent. and prepare ihe financial statements on the going concem basis unless it is inappropriate to presume that the charity will continue in operation. The Iru8tees are r¢SnsIble for keeping ale accounting reLxJrds that disclose with reasonable accuracy at any time financial sItion of the charity and cnable ihetn to ensure that the findncial statements compfy with the Companies Act 21K16. They are a]so r¢snSIble for safeguarding the asscts of the thaTity and hen( for tiIng rcasonable steps for the prcvenlion detection of Iraud and othtr iTTcgularities. Risk mxnggemellt Thc h&vc a duty to idernify arKI review the risks. to which th¥ charity is exposed and to cnsure appropriate controls are in place io wovide reasonable assurance againsl fraud and error. REFERENCE AND ADMINISTRATtVE DETAIiS Registered cOmpaY number 03961654 (England and Wa]es) Registered Charity number 1086229 Reglstered oftflce 4th Floor. Royal Oak House Roya] Oak Avenu¢ Queen Sqaure Bristr)I BSI 4GB Page 4
ASIAIY ARTS AGES'CY rt of tbe Trllstees f the Year Ended 31 March 21124 Registered office 4th Floor, Royal Oak House Royal Oak Avenue Que¢n Sqaure Bristol BSI 4GB Trnstees T Corum Public Engagement Mana¥cr A G Ismail Businessman S Marwah Businessma Ms L M Porter Rctir¢d Company Se¢retsry Independent Examlner Gyan¢hand Mungur FCCA Gyncb Shtw Maurice & C4) Chartered Certified Accountants Rear of No 2 SPM Hou Gl¢nihorne Road FTiern Barnet London NII 3Efr Approved by order of the iThrd of tTUStCC5 on 2511212024 and signed on its bchalf by.. S Marwah- Truee Page 5
Inde end¢Mt Ex8miner's Re ort to the Trustets of
ASIAN ARTS AGENCY
Independent examiner's ttport to the trnstees of ASIAN ARTS AGENCY {'tbe Company,
I rqM)rt the charity twste£s on my examination of the accounts of the Company for the year ended 31 March 2024.
Responsibilities and basis of report
A8 thc charily's trustecs of the Company (and also its directors for th¢ purposes of company law) you are rponsIble for
thc prcparation of th¢ accounts in acLxbrdancc with the requirements of the Companies Act 2(Mkn ('the 2006 Act,).
Having satisficd myself that the accounts of the Company arc rK)t required to be auditcd under Part 16 of the 2006 A
and are eligible for indewtht exami1110 I rqx>rt in respect of my ¥xamination of your charity's ac£ounis carried
out under Section 145 of thc Charitics Act 2011 ('the 2011 Act,). In canying out my eXninlin I have followed the
Dircctions givcn by the Charity Commission under Section 145(5) (b) of the 2011 Acl.
Independent euminer's st*tsment
Sin(K your charity's gross incomc exceedcd £250,000 your eMminer must be a member of a listed body. l Can cunfirni
that l att] quaitfied to undertakc the examination becaus¢ l atn a memkr of the Association of Charted Certified
Accountanls, which is of the listed bodics.
I have completed my examination. I confinn that no matters have come to my attention in connection with the
examinaiion giving me cause lo believe:
accounting records were not kept in spect of the Company as required by Section 386 of the 26 ACL. or
the accounts do tK)t accord with those ords. or
the accounls th not Comply with accounting requirements of Section 396 of ihe 21K Act other than any
requirement that the accounls give a Inje and fair view which is not a matter ¢onsider¢d as port of an independent
axamination. or
the ac¢ounts have not t£en wepared in aeeordance with the methods and ryincipl¢s of the Statement of
Recommended Practice for accounting aThJ reFQrting by ch8rilies {appli¢able lo charities preparing their aecounts
in acc4)rdance with the Financial RertIng Stsndard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concems and have come across no other matters in Ly)nneaion with the examination to which attention slw)uld
be drawn in this report in order to enable a prOr utNJerstanding of the a¢counts to be reached.
Mungur FCCA
Gynch Shaw Nllaurice & Co
Chartered Certified Accountant5
Rear ofNo 2
SPM House
Glenihorne Road
Fri¢rn Bam¢t
Lon
ASIAN ARTS AGENCY Ststement of Financial Activities In¢oriMbratin . Income and Exiienditure Account for the Year Ended 31 March 2024 31.3.24 Total funds 31.3.23 Total fimd Unreslricted funds Restricted nds Notcs INCOME AND ENDOWMEwfs FROM L%)nations and legacies 526,962 526.962 293,831 Other trading activities Invastment ineome 61,542 61y2 69J19 14 Totsl 588J04 588.504 363,364 EXPENDITURE ON ]knising fimds 204,314 21M,314 145.591 Other 233.483 233,483 186,699 Totsl 437,797 437,797 332290 Net gains on investments 2J83 NET INCOME Other recogllised Eainsl(losse5) Gains on revaluation of fixed &8sets 150.707 150.707 33,457 317.319 317.319 Net movement in funds 468,026 468,026 33,457 RECONCILIATION OF FUNDS Total fiuTrds brought fonv8Jd 105.095 105,095 388,957 T(yfAL FUNDS CARRIED FORWARD 573.121 573,121 422,414 CONfiNUING OPERATIONS All incotn¢ and expenditure has arisen from continuing activities. The notes form part ofthese financipj statements Page 7
ASIAN ARTS AGENCY Ststement of Fin*neial Activltles lttcor nitIn an Income and Ex nditure Aeeount) for the Year Ended 31 Mareh 2024 Surplus and Deficit Ac£ouni 968 Posting dIr¢panCieS were found in the reserve accounts listd below. This is because the brought forward postings in the current year are not equal io the figUS carried fonvard by IRJS the end of last year. Ple&se check your p)stings in the brought fonvard Unt for the surplus and deficit account 968. Unrestricted fi]nds Total funds Brought fonvard- 96811 105,095 105.095 Canied fotward 422,414 422,414 Difference 317,319 317.319 Post to relevant accounts (see ICHA Chart of accounts for further detsils) The notes fonn part of these financial statements Page 8
ASIAN ARTS AGENCY REGISTERED NUMBER: IJ3961654 Balance Sheet 31 Matth 2024 31.3.24 Total fimds 31.3.23 Tota] fijnds Unrestricted nds Restricfrd nds Notes FIXED ASSETS Tangible &8sets 3.072 3,072 775 CURRENf ASSETS Debtot3 Prepayments gnd accrued income Ch bank and in hand 10 45.126 5,367 542,540 45,126 5.367 542,540 33,130 5,367 395,304 593,033 593,033 433,801 CREDITORS Amunts falling due within one yeaT (22.984) (22,984) (12.162) NET CURRENf ASSETS 570.049 570.049 421,639 TOTAL ASSETS LESS CURRENT LIABILITILS 573.121 573.121 422.414 NET A&SETS 573,121 573,121 422,414 FUNDS Unrestricted fvnds: General fund 12 573,121 422,414 TOTAL Fuf4DS 573,121 422.414 The charitable company is enlitl¢d io exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024. Th¥ members havc not required the company to obtain an audlt of its finaftcia] statements foT thc year ended 31 Mah 2024 in accordance with stion 476 ofthe Lompanies Act 2006. The tntste¢s acknowledge their r¢swnsibiliti¢s for (a) ensuring that the ¢haritable company keeps aeeounting records that comply with Sections 386 and 387 of the Companies Aci 2006 yJJd PTcparing financial statements which give a truc and fair view of the state of affairs of the cliaritablc company as at the end of each financia] year and of its SUTplus or deficit for cach financial year in accordance with the requirements of Sections 394 and 395 and which othen¥ise comply wilh the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the ¢haritable company. (b) Th¢ notes forn) part of these financial statements Page 9 continued...
ASIAN ARTS AGENCY IAnee Sbeet- eontlDued 31 Mar¢h 2024 These financial statemthjts have ivn pr¢pared in accordan¢e with the provisions applicable to ¢haritable companies subject to the small ¢ompanies regim¢. The financial statements were approved by the Board of TNst¢es aNI authOrid for issue on 2511212024 and were signed on its behalf by.. S Marwah - Trustee The notes forni Irt of these financial statements Pag¢ 10
ASIAN ARTS AGENCY Notes to the Fill4nei41 Ststements for the Year E4bded 31 March 2024 AccouNfllYG POLICIES Basis of preparing the finaneial statemtnts l. Accounting EK)licies Charity informalion Asi¥ Arts Agency is a private company limil1 by ¥wantee inrE)rated in Englad and Wa]¢& The registcrcd office 18 4th Floor. Royal Oak HousG Roya] Oak Avenu4 Bristol, BS 14GB, ljnited Kingdorn. 1.1 Accounting convention The financia] statcmcnLs havc been preparcd in accurdwicc with the charity's governing dUMen( the Companies Act 2006 and "Accounling and Rep)rting by Chartties: Statement of RecommetKled Pra(#ice applicable to charities prcparing their accounls in accordance with thc Financial Reporting Standard appli(xblc in the UK und Rcpublic of Ireland (FRS 102}" (as amcndcd for accounting pcriods commcnclng from l January 2019)- Thc charity is a Publi¢ Benefit Entity as defined by FRS 102. The Chlty h&$ takex advantage of the provisions in the SORP for chartties applying FRS 102 Updale Bulletin I tKPt to prepare a Statement ofcash Flows. The fin8n¢] statements are prepared in sterlin& which is the functional cUenCY of the ¢harity. Monetary amounts in these financial slat¢ments are round¢d to the nearest £. The financial slatemerits have been prepared under the histt>rical cost convention, modified to Incl1¢ the r¢valuation of freehold properties 82)d to include investment PlDperties and certain financia] instruments at fair value. The principal accounting policies adoplcd we set out below. 1.2 &ying con1 At the lime of approving the financia] SeMent ihe trustees have a ffasonable expectation that the charfftty has adequate resources to continue in operational existence for th¢ foreseeable future. Thus the tTUSt¢es continue to adopt (he going concern b&sis of a¢¢ounting in preparing the financial statements. 1.3 Charitable ndS UnrestriL#ed ndS are available for use at the disclOn of the trustees in hrtherance of their chartlable objectives unless the fimds have been designated for other purrA)ses, Restricted funds are subject to specific conditions by thwr5 as to how they may be used. The purpose5 and uses of the restricted lunds are set out in the nofrs to thc financial stuluncnts. 1.4 Incoming resources InLvTnc is rec()gniscd when the charity is legally cntitled to it aftcr any perforniancc condition) have been meL Ihc atnounts can be measured rcliably, and il is Probable that incotne will rcceivcd. DebtOTS are measured at thc amount cxpcctcd io be received by the charity. Cash donations are reLugnised on reG¢ipt. Other donations are recugniscd once the charity h&8 Ixcn notified of the donln, unlcss perforniance conditions rcquirc deferral of the amount. Jneomc tax recoverablc in relation to donations received under Gift Aid or deeds of covenani is reeognised the timc of the donEtion. LeEacics are reco£nised on receipt or otherwise if the charity has been notified of an impending distribution. the amount is know (d rcceipt is expecled. If Ihe amounl is not kTroW the legacy is treated as a contingenl 4J5set. l Accounling w)licies (Continued) Govemment gran15 are recognised at the fair value of Ihe ass¢1 received or receivable when there is reasonable assuran¢x that the grani conditions will k met and th¢ grants will be reeeiv¢d. Pagell orninued...
ASIAN ARTS AGENCY Notes to the Finalleial Statements- eontinued for th¢ Year Ended 31 Mareh 2024 ACCOUNTING POLICIES- conlinued 1.4 incoming re5wr¢e5 A grant that specifies perfonnance condilions is recognised in income when the performance conditions are m¢1. Where a grant does not specify rf0M]anee )nditionS it is recognised in income when the proceeiL8 are received or receivabl¢. A grant received befo tk r0]llOn criteria are satisfied is recognised as a liability. 1.5 Resources expended Liabilities are recognised &8 expendire as soon as there is a legal or constructive obligation committing the charity 10 that expenditure. it is probable a transfer of economic benefits will be required in settlement and the amount of the obligation can be me&8ured reliably. Liabililias are measured at the value of the excted economic outflow. EX[dilure is accounted for on the accruals basis and hgs been cl&8sified under headings aggregate all w5ts related to the category. Where costs cannot be directly attribthed to particular headings they have been allocated to activities on a basis wnsislent with th¢ use of resources. Tanglble fixed assets Depreciation is provided at the following annual rates in order to write off ¢ach asset over its estimated usefijl life. Computer equipment 1.8 Taxgtio The charitytharity is exempt frorn corporation lax on its charttable tiVitieS. P¢nsion Costs and other post-retirement benefits The charitable company operates a defined contribution pension scheme. Contribution5 payable to the charitable company's pension 5¢heme are charged to the Statemenl of Financial Activities in the period lo which tlw rela¢a OTHER TRADING ACTIVITIES 31.3.24 31.3.23 Fundraising events Core cos activity 5,195 56,347 7,511 62.008 61,542 69,519 ILYVESTMEIYT INCOIVIE 31.3.24 31.3.23 Deposit acwunl interest 14 Page 12 niinued...
ASIAN ARTS AGENCY Notes to the Fln*ntÈal Statements- eontinu for the Year Ended 31 March 2024 RAISING FLIYDS Raisillg donattons and legacies 31.3.24 31.3.23 Support costs 204,314 145,591 NET IfscoMFJ{EXPEIYDITURE) Net incomel(expendilur¢} is statrd afier ¢hargingl(crediting): 31.3.24 31.3.23 Depreciation- owned asscts Sutplus on disry>sal of red asxts 3,071 3,406 (1,228) TRUSTEES, REMUNE114TION AND BENEFITS There were no trustees, remuneration or other benefits for the ended 31 March 2024 nor for the year ended 31 March 2023. Trn%tees' expenses ThC were no Iru8tees' expenses paid for the year ended 31 March 2024 nor for the year eFxkd 31 March 2023. STAFF COSTS The average monthly number of employe£s during the year was &8 follows: 31.3.24 31.3.23 Administrativ¢ Trustees No nplOyeeS received emoluments in excess of £60,000. COII(PARATIVES FOR THE s'fATEIVAEiYf OF FINAIYCIAL A1VITIEs Unr¢stricted fimds Restricted funds Tota] nds INCOME AND EM)OWMENTS FROM Donations and legacies 293,831 293,831 Other trading aclivilics Invc5tmenl incom¢ 69,519 14 69,519 14 Total 363.364 363,364 EXPENDITURE ON Raising ndS 145.591 145,591 186.699 186,699 Page 13 ci)ntinu¢d.,.
ASIAIY ARTS AGENCY Notss to the Fin4nci*l StstemeDts- CDntlnued for the Year Ended 31 Ivlarth 2024 COMPARATtVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- contlnued unrestr[ed Restrict fimds funds Total funds Total 332,290 332,290 Net gains on investments 2.383 2.383 IYET INCOME 33,457 33.457 RECONCILIATION OF FUNDS Totsl Itmds brought forw 388,957 388,957 TOTAL FUNDS CARRIED FORWARD 422.414 422,414 TANGIBLE FIXED ASSETS Cornputer equipment COST At l April 2023 Additions 6,813 5,368 At 31 March 2024 12,181 DEPRECIATIO Ai l April 2023 Charge for year 6.038 3,071 Ai 31 March 2024 9.109 NET BOOK VALUE At 31 March 2024 3,072 At 31 March 2023 775 io. DEBTORS: AMouNfs FALLING DUE WITHIN ONE YEAR 31.3.24 31.3.23 Trade debtoj Other debtors VAT 40,486 41,170 (8,068) 28 4,640 45,126 33,130 Page14 continued...
ASIAN ARTS AGENCY Note5 ts the FinancSAI St#tements- continued for the Year Ended 31 Mareh 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN OLYE YEAR 31.3.24 31.3.23 Trade LY¢ditors Pension liability Other crlItOrS Accru expenses 21.539 (1,122) (1,688) 4,255 20.933 2.760 (15,686) 4,155 22,984 12,162 12. MOVEMENI. IN FU]YDS Net movcmcnt in At 31.3.24 At 1.4.23 Unresttatted fvnds (Feneral fund 105.095 468,026 573.121 TOTAL FUNDS 105.095 468,026 573,121 Net movgnenl in Sjnds, included in the alx)ve are as tollows: Incoming Resourc¢s expend¢d Gains and losses MOvemt in funds Unrestricted funds General fimd 588,504 (437.797) 317,319 468,026 TOTAL FUNDS 588,504 {437,797) 317,319 468,026 Comparatives for movement in funds Net movement in thnd8 At 31.3.23 At 1.4.22 Unrestrieted funds General nd 388,957 33,457 422.414 TOTAL FUThDS 388,957 33,457 422,414 Page15 ntinued...
ASIAN ARTS AGENCY Not¢s to the Finantial Ststements- continued for the Year Ended 31 March 2024 12. MOVEMEiYf IN FUNDS- continued Comparative net mov¢ment in fvnd4 included in the aix)ve are as follows: Incoming ResourLYs exnded Gains and losses Movement in fijnds Unrestrieted funds Gen¢rdl fimd 363,364 (332,290) 2.383 33,457 TqyfAL FUNDS 363.364 (332.290) 2,383 33,457 A current year 12 months and prior year 12 months combined position is &$ follows: Net movement in fund5 At 31.3.24 At 1.4.22 Unr&stiieted fvnds Gcn¢ral fijnd 388,957 501.483 890,440 TOTAL FU]YDS 388.957 501,483 890.440 A current year 12 months and prior yegr 12 Jnonths wmbined net movement in fund& included in the above a as follows.. Incoming R&sources expended Gains and losses Movemeni in fimds Unrestiitted funds G¢n¢ral filnd 951.868 (770,087) 319,702 501,483 TOTAL FUNDS 951.868 (770.087) 319,702 501,483 13. RELATED PARTY DISCiL)SURES There were reled pty transactions for the ycar ended 31 March 2024. Page 16