REGJSTERED COMPANY ]%IJMBER: 03961654 (England and WaleB) REGISTERED CHARITY NUMBER: 1086229 rt of the Trustees and Ungudited Financial Statements for the Year EDded 31 Marcb 2025 for ASIAN ARTS AGENCY Gynch Shaw Mauriee & Co Chartered Certified A¢count4nts Rear of No 2 SPM House GleDthorDe Road Friern Barnet London N113HT ASJ.4N ARTS AGENCI" Contents of the Financial Statemellts for the l'ear Ended 31 March 2025 Page Report of the Thutees Independent Examlner's Report ststement of Financial Activities Balance Sheet Notss to the Fin￿￿￿1 Ststements 10 to 16 Detsiied Statem¢nt of FIDalld￿ Activilles 17 to 18 ASIA]% ARTS AGEN'CI" ort of the Trustees for the Year E.llded 31 March 2025 The trustees present their report and financial statements for the year ended 31 March 2024 The financial statements have been prepared in accordance with the accounting Jx)licies set out in note I to the financial statements and comply with the charity's governing documenL the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of treland (FRS 102). (as arnended for accounting periods commencing from l January 2019) Objectives and activities The charity's objectives are to mainstream Asian Arts in the South West of England and nationally. The charity's rnission, based in Bristol the Asian Arts Agency supports artists and practitioners to deliver traditional and contemporary South Asian arts. encouraging engagement from all communities and from venues in Ihe South West and nationally. Our key aims are.. - to encourage high quality South Asian arts practi¢e in mainstream venues - support professional development of South Asian artists - bring international South Asian artisis to the South West of England - encourage innovation in South Asian arts practice and developments - support contemporary, experimental and new woik developed by British Asian artists - celebrate and prornote South Asian arts lo the whole community - cnable communities lo experlence and participat¢ in South Asian arts The trustees have paid duc regard to guidance issued by thc Charity Commission in dcciding what activities the charity should undertake. The main activities undertaken to achieve the charity's objectives are the runni￿ of various events to allow Asian artists to showcase the Asian culture to all ¢on]munities in the South Wesl and nationally. Page I ASIAN ARTS AGENCY rt ol the Trustees for the Year Ended 31 March 2025 OBJECTIVES AND ACTIVITIES Achievements and Perfornian¢e This year we strengthened our progrdmrne by in¢reasing our reach, creating new programmes and building up new partnership5 for the delivery on OUT WOTk in Bristol, the Southwest and nationally to both South Asian communities and wider audiences. Our progTammes included producing and prograrnmin8 a range of national music tours with South Asian musician4 workin8 with major music festivals. venues across the Southwest and nationally. Additionally we created new talent development opportunities for artists at all levels, including new progTammes for emerging artists with training and development opportunities, educational music workshops and showcasin8 activity by children and youn8 people in Bristol. In total we delivered 38 live perforniances and events. 42 participatory WOTkshops' one music festival. and three national tOUTS. In total our ptogramme involved working with 70 musicians and 130 freelancers crealing more opportunitie5 for South Asian musicians, artists and other creative people. We presented and toured a range of national and international incoming artists including Ranjana Ghatak ( musi¢ ¢ommission and live perfomMi¢e).. SitaT playeT Niladri Kumar, Shahbaz Hussain. Roopa Panaser. flute player Rakesh Charusia. Chahat Mahmood Ali Qawwals. Malkit Singh; Rajasthani Folk M￿sicians. and Pandit Vishwa Mohan Bhatt. We presented our work ￿ a number of venues in¢luding Bristol Beacon" St. Georges Bristol. CuThe Theatre SlouglL' Tung Liverpool. Southbank Centr¢ L4)ndon and at severdl venues in Oxford, southampto￿ Cardiff and Newcastle. Working with Children and Young P￿p]e We worked with local partners to support and deliver the 8th edition of the "Rhythm Utsav. which enabled ovcr 40 children and young people to learn South Asian music and dance and showcase their talent in a final event perforniance in Bristol. This event was supported by a new music commission to inspire young people to work alongside professional musicians. Funders and Suppi)rt¢rs Our relationsbip with Arts Council England and Bristol City Council remains strong both to deliver our activity and by inputting into the local and national CuliA￿al and arts developTnent for the wi(kr arts sector. New Music Commissions and Support for Artists We delivered talent development programm¢ which enables the Agency to run new programmes to support emerging artist with training and development support and by providing new oppornmitie5 to create and perform their work. Thi5 activity is part of the ongoing Breaking Barriers programme w¢ created to supw)rt South Asian musicians at varioMs stages in their careers. Interngtional research W¢ undertook research activity to explore increased international opportunities for British South Asian artists through music showcases and touring. supporting several artists as part of this process. We a150 beld conversatioDS with Inajor arts bodies, including Arts Council EnglaDd and the BPI, to explore future possibilities for Internation￿ tOUriDg and cultural exchange, and we hope to see this work led to tawble activity in the future. Diversity and Inclusion Thmugb our team, and with the support of our Board. we have ¢ontAnued to create new initiatives lo increase support for Soutb Asian Tnusicians in the county. This includes taking part ill development session5 With fimding bodies and also througb delivery PTograll]mes Like Emerge and other nwsic commissions. Page 2 ASIAN ARTS AGENCY rt of the Trustees for the Year Ended 31 March 20Z5 Summary 2024125 has been a successful year for Asian Arts Agency in strengthening our programme and CTeating new partherships for our fijture work. This includes delivery of music perfonnances. offering music commissions foT artists. Presenting new Music lo a wide rdnge of audiences. and supporting children and young people through programmes like Rythmn Utsav. FINANCIAL REVIEW Financial review The charity has a policy to hold reserves equal to six rnonihs, core expenditure. The charity's reserves of £760,972 (2024: £573,121) at the year, of whicb £426,356 (2024.. £426.356 is restricted. The trnstees have assessed the major risks to which the eharity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The chariry is controlled by its governing documen( a deed of trust. and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2(K)6. Page 3 ASIAN ARTS AGENCY ort of the Trn5tees for the l'ear Ended 31 .￿larch 2025 The trustees, who are also the dirrttOTS for the purp￿ of company law. and who ser¥ed during the yeaT and up to the date of signature of the financial ststements were: MS L Porter Mr A G K Ismail Mr S Marwah Mr T Corum The appointment of trustees 15 a rigorous process. Trnstees are recruited via a mix of open recruitment and invites depending on the experience and skills they have that are rclevant to the role. Before appoinlment all In￿te¢S have to go through a thorough interview process lo assess their suitsbility for the role. None of the tn]stees has any beneficial interest in the cornpany. All of the trustee5 are mernbers of the company aTJd guarantee to contribute £1 in the event of a winding up. Key management remuneration during the year amounted to £79.150. The trustees, who are also tlie directOTS of Asian Arts Agency for the purpose of company law. are responsible tor preparing the T￿stee$, Rq)ort and the financial statements in accordance with applicable law and United Kingdom Accounting Slandards (United Kingdom Generally A￿epted Accounting Practice). Company Law requir¢s the trustees to prepare financial 5ts1ements for each financial y¢aT which give a true and fair view of the state of affairs of the charity and of the incomitig resources and application of resources. including the income and expenditUTC. of the charitable company for that year. In preparing these financial statements. the tn￿ceS are required to: - select suitable accounting policies and then apply them consistently: - observe the meth￿S and prin¢iples in the Charities SORP: - make judgements and estimates that are reasonable and prudent: and Prepare the fuwicial stat¢ments on the going Concern b￿1$ unless It is inappropriate lo presume that the charity will continue in operation. The tystees are responsible for k¢¢ping adequate accounting records that disclose with ￿asOnable accuracy at any time the fmancial position of the charity and enable them to ensure That the financial statements comply with the Companies Act 2006. They are also responsibl¢ for safeguarding the assets of the charity and hence for taking reasonable sleps for the prevention and detection of fraud and otber irTegularities. Risk management The trustees have a duty to identify and review the risks to which ihe charity is exposed and to eD5ure appropriate eontrols are in place to provide reasonable assurance against fraud and eTror. REFERENCE AND ADMINISTIL4TtVE DETAILS Registered Company number 03961654 (England and Wales) Registered Charity number 1086229 Pagc 4 ASIAN RTS AGEN rtolthtTru for the Yé*r EDded 31 M¥trfh 2025 R¢%iitered office 4th F]oor, Royd Oak HoTJSe Royal Oak Av¢nu¢ Queen &uare Btistol BSI 4GB Trwtees T CoThm Publtt EngagemeTht M4 A G Ismail Busine&s S Marwdh Busirtes*nan Ms L M Port¢T Rthired Cothp*Ay Se¢rnt*ry Ind¢pendeAt Exathln¢T Gyanchand Mun8ur FCCA Gynch Shaw M4uri¢e & Co Chartered Certified Accountsnts Rear of No 2 SPM House Glcnthorne Road Friern Bgrn¢t L4mthn N113HT AprKoved ty ord¢rofthe t¥)ard of ITuS￿S on 3011212U25 and si￿￿don its ￿haIr by: S Manvah. Twstee Inde endent Examiner'5 Re ort to the Trustees of ASIAli ARTS AGENCY Independent examiner's report to tbe trustees of ASIAN ARTS AGENCY ('the CompAny I Teport to the Charity trustees on my examination of the accounts of the Compa)Jy for the year ended 31 March 2025. Responsibilities Ydnd basis of report As the charity's trustees of the Company (and also its directr)TS for the purposes of company law} you are responsible for the preparation of the accounts in aG¢ordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that th¢ accounts of the Company arc not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as Ca￿led out under Section 145 of the Charities Aci 2011 ('Ihe 2011 Act,). In earrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. Independent examlner's statement Since your charity's gross income exceeded £250.000 your examiner must be a member of a listed body. I can confimi that I am qualified to undertake the exarnination because J am a member of th¢ Asswiation of Chartcred Ccrtified Accountants. which is one of the listed bodieg. I have ¢ompleted iny examination. I confinn that no matters have come to my attention in connection with the exarnination giving me cause to believe: accounting records were not kept in respect of the Company a5 requited by Section 386 of the 2006 Act. or the a¢¢ounts do not accord with those records. or the accounts do not Comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the a￿OuntS give a trne and fair view which is not a matter considered as part of an independent examination. or the accounts have not been prq)ared in a￿rdance with the methods and PTinciplcs of the Statement of Recommended PTactice for accounting and TeportlDg by charities (applicable io ch￿111¢5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102}). I have no concerns and have come across no other matters in connection with the examination to which attcntion should be drawn in this report in Order to enable a proper understanding of the ¥c￿unts to be reached. GyanLhan MuDgur Gynch Sha v Maurice & Co Chartered Certified Accountants Rear of No 2 SPM House Glenthorne Road Friern Barnet London N113HT Date-. 9025 Page 6 ASIAN ARTS AGENCY Statement of Financial Aetlviti oratin an Inctsme and Ex enditure Account for the l.ear Ended 31 March 2025 Ineor 31.3.25 Total funds 31.3.24 Total funds Unrestricted fijnds Resthcted funds Notes INCOME AND ENDOWMENTS FROM Donalions and legacies 616,806 616,806 526.962 Other trdding activities 123 466 123,466 61.542 Totsl 740.272 740,272 588,504 EXPENDITURE ON Raising funds 216,859 216.859 204,314 Other 335.562 335.562 233.48.1 Total 552.421 552.421 437 797 NET INCOME 187.851 187.851 150.707 Transfer from Unrestricted to Re$tri¢ted (150.000) 150.IMJI Total funds broughi forward 146,765 426,356 573,121 422.414 TOTAL FUNDS CARRIED FORWARD 184.616 576,365 760.97? 573,121 COIYTINUING OPEIL4TIOY4S All income and expenditure has arisen from conlinuitig activiti¢5. The notes forni part of these financial statements Page 7 ASIAN ARTS AGENCY BalAnce Sheet 31 March 2025 31.3.25 Total fuD