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← Epic Arts

2024-12-31-accounts

EPIC ARTS REPORT AND ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

Charity number: 1091059 Company number: 04273231

EPIC ARTS

INDEX TO ACCOUNTS FOR THE YEAR ENDED 31 DECEMBER 2024

CONTENTS PAGE
Company Informa�on 3
Report of the Directors 4 - 6
Independent Examiner’s Report 7
Statement of Financial Ac�vi�es 8
Balance Sheet 9 - 10
Notes to the Accounts 11 - 18
Detailed Statement of Financial Ac�vi�es with Compara�ves 19

3

EPIC ARTS COMPANY INFORMATION FOR THE YEAR ENDED 31 DECEMBER 2024

Directors and Trustees L Davolio
D Trimble
G Kubair
A Goad
Company Secretary D Trimble
Key Staf S Onn (Chief Execu�ve Ofcer)
A Evans (Development Director)
O Buntheng (Opera�ons Manager)
K Coogan (HR & Finance Management Advisor)
N Kakada (Program Director)
Governing Document Memorandum and Ar�cles of Associa�on dated February 2002
Company Registra�on Number 04273231
Charity Registra�on Number 1091059
Registered Ofce 17 Carmichael Mews
London
England
SW18 3HH
Principal Address Epic Arts
Sovann Sakor
Kompong Kandal
Kampot
Cambodia
Independent Examiner Brindley Goldstein Chartered Accountants
103 High Street
Waltham Cross
Her�ordshire
EN8 7AN
Bankers The Co-Opera�ve Bank
ACLEDA Bank (Cambodia)

EPIC ARTS REPORT OF THE DIRECTORS FOR THE YEAR ENDED 31 DECEMBER 2024

The directors, who are the charity’s trustees for the purpose of charity law, have pleasure in submitting the Report and Accounts for the year.

Objects of the charity

The charity is a charitable company and is governed by its memorandum and articles of association. The objects of the charity, as set out in the governing document, are:

In each case, primarily by provision of high-quality arts programmes designed to involve people of all abilities and disabilities anywhere in the world, always, that in furthering these objects, the charity shall have regard to the tenets of the Christian faith.

Summary of the charity’s main activities and achievements

Epic Arts provides arts, educational and community programmes for children and young adults with physical and learning disabilities. We have a number of social enterprises which promote and celebrate diversity and inclusion. Our work provides tools for personal transformation and helps change societal attitudes towards disability and inclusion. Our activities are based in Kampot, Cambodia.

Epic Arts strongly engages with our local, national and international communities through our creativity, educational programmes and social enterprises.

In 2024, our Special Education Project (SEP) has continued to develop in important directions. The SEP empowers and educates children and young people with disabilities (ages 3-30) to live independent lives and thrive within society. We offer no-cost creative and education programmes focusing on literacy, numeracy, independent living skills and confidence-building arts and dance. Every week, our team transports over 70 students to the Epic Arts Centre and to classes within public schools. We also work with parents to help create a supportive and protected environment at home and within families’ wider communities.

Our SEP teachers have trained public school educators on inclusive education and strategies for working with children and young adults with learning disabilities. Additionally, we partner with public schools to enhance or build inclusive infrastructure, ensuring full access for students with disabilities. We collaborate closely with the Cambodian Ministry of Education, which significantly leverages our influence over public education policies for sustainable, inclusive education.

Activity in our social enterprises has increased in 2024. These enterprises are a vital interface between Epic Arts’ educational and training programmes and our promotion of

equality and diversity. In providing work opportunities for people with disabilities, they are the visible and tangible expression of inclusion in a country where opportunities for people with disabilities are limited. Epic Arts Café, which started in 2006, attracts a growing number of customers by serving delicious food in a friendly environment. Our team of 16 staff includes 11 with disabilities. Epic Arts Dance has also seen an increase in their activity as more national and international events and bookings have opened up. Our team of 9 dancers includes 7 with disabilities.

For Epic Arts as a whole, of the 43 staff we employed in 2024, over half either have a disability or are caregivers of children with a disability.

Epic Arts’ community-based programmes range from organising art workshops with local artists to supporting government social workers and police with child protection cases. Our community outreach programme promotes disability awareness and inclusion through a range of events and services. Many families view disabled children as a burden and do not invest time or money in their upbringing. Our programmes seek to change this mindset and address the issues our students face at home and in their local communities.

Our involvement in ChildSafe –which aims to protect children in Kampot through its safeguarding structures and advocating for more robust protection measures – continues to strengthen our community links and our relationship with local government. Our social work team operate the Kampot ChildSafe Emergency Hotline. Every month, around 40 vulnerable individuals and families, including children with disabilities, call the hotline. In 2024, our team was involved in over 450 support cases. Through this work, we are increasingly being seen as a valued and reliable partner with strong roots in the community.

The board is enormously proud of and grateful to the staff and students of Epic Arts. Throughout 2024, they continued to adapt to changing circumstances while upholding our values, which are at the heart of all that we do.

In planning Epic Arts’ activities, the directors have had regard to the guidance issued by the Charity Commission in December 2008 on public benefit.

Structure, governance and management

The policies and strategic decisions of the charity, and the monitoring of their implementation, rest with the board of directors, which met four times in 2024.

Financial review

The board is enormously grateful for the continued support, investment and generosity of a wide range of donors. In particular, we greatly appreciated the way donors have continued to be flexible in the use of some of their funding.

Throughout this period, the board and senior management worked closely together, including the careful monitoring and reporting of emerging risks, our cash flow and the overall financial position.

Since 13 May 2024, the café and Creations shop have been registered as a separate legal entity in Cambodia, as required by the Cambodian tax authorities. Income and expenses are included in the 2024 Accounts up to May 12. There is a formal agreement with the new entity that net profits will continue to be transferred to Epic Arts. There will be no loss of income for Epic Arts because of this new arrangement

Epic Arts’ finances strengthened in 2024. Total income was broadly stable at £371,657 (2023: £375,219). Our expenses totalled £317,786 (2023: £403,184). This reduction in expenses resulted in a significant turnaround in our financial position with a net surplus of £53,872 [2023: (£27,965)].

At 31 December 2024, Epic Arts held £78,050 in bank accounts (2023: £47,827). Our net assets were £97,980 (2023: £44,108). This improved position has strengthened our financial sustainability and resilience and will help mitigate future financial risks.

Because our work in Cambodia is US dollar-based, we are generally exposed to modest foreign exchange gains and losses; in 2024, there was a loss of £631.

Key risks and plans for the future

The directors review regularly the risks to which a UK-registered charity operating in Cambodia is exposed and are fully committed to ensuring appropriate procedures and mitigation policies are in place.

A vital part of our strategy is building up and growing our social enterprises in order to generate more of our own income. This is the most flexible form of income for a charity of our size and will enable us to expand those areas of our vision – particularly in relation to arts and performance-related programmes – that are outside the funding scope of many donors. Expanding the reach and visibility of these enterprises is a vital part of spreading our core values of inclusion and diversity.

The board and staff of Epic Arts are looking to the future with vision and energy. Our plans and strategy for the future will help ensure Epic Arts remains financially viable and able to meet the challenges of 2026.

Responsibilities of directors under company law

The directors are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing these financial statements, the directors are required to:

  1. Select suitable accounting policies and apply them consistently;

  2. Observe the methods and principles in the Charities SORP;

  3. Make judgements and estimates that are reasonable and prudent;

  4. State whether the applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

  5. Prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in operation.

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

Approval

17 September This report was approved by the directors on ............................... 2025 and signed on their behalf by:

DERMOT TRIMBLE

7

EPIC ARTS INDEPENDENT EXAMINER’S REPORT

responsibility to anyone other than the charity and the charity’s trustees as a body, for my work, for this report, or for the opinions I have formed.

statements. The planning and conduct of an audit goes beyond the limited assurance that an independent

Independent examiner's statement

………………….…….

C H Goldstein FCA For and on behalf of Brindley Goldstein Chartered Accountants

17/09/25

Date: ………………….…….

8

EPIC ARTS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Other income
5
Recovery of funds
21
Total income and endowments
EXPENDITURE ON:
Charitable activities
6
Raising funds
7
Total expenditure
Net gains/(losses) on investments
Net profit/(loss)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward
17		 Unrestricted
Funds
£
54,852
74,342
49,198
2,298
180,691
121,420
9,936
131,356
-
49,336
49,336
10,169
59,505		 Restricted
Funds
£
190,966
-
-
-
190,966
186,430
-
186,430
-
4,537
4,537
33,939
38,476		 Total
Funds
2024
£
245,819
74,342
49,198
2,298
371,657
307,850
9,936
317,786
-
53,872
53,872
44,108
97,980		 Total
Funds
2023
£
223,237
139,553
11,624
804
375,219
403,184
-
403,184
-
(27,965)
(27,965)
72,073
44,108

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing operations.

The statement of financial activities also complies with the requirements for an income and expenditure account required by the Companies Act 2006.

9

EPIC ARTS

BALANCE SHEET

FOR THE YEAR ENDED 31 DECEMBER 2024

Note
FIXED ASSETS
Tangible assets
10
CURRENT ASSETS
Stock
11
Debtors
12
Cash at bank and in hand
13
CREDITORS: Amounts falling
due within one year
14
Net current assets / (liabilities)
Total assets less current liabilities
Net assets / (liabilities)
TOTAL NET ASSETS
FUND BALANCES
Unrestricted Funds
General funds
Restricted Funds		 Unrestricted
Funds
£
1,907
1,907
-
21,854
39,574
61,428
3,830
57,598
59,505
59,505
59,505
59,505
59,505
-
59,505		 Restricted
Funds
£
-
-
-
-
38,476
38,476
-
38,476
38,476
38,476
38,476
-
-
38,476
38,476		 Total
Funds
2024
£
1,907
1,907
-
21,854
78,050
99,904
3,830
96,073
97,980
97,980
97,980
59,505
59,505
38,476
97,980		 Total
Funds
2023
£
-
-
1,461
4,330
47,827
53,618
9,510
44,108
44,108
44,108
44,108
10,169
10,169
33,939
44,108

10

EPIC ARTS

BALANCE SHEET (Continued)

AS AT 31 DECEMBER 2024

Under the Companies Act 2006, s454, on a voluntary basis, the trustees can amend these financial statements if they subsequently prove to be defective.

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006 however, in accordance with Section 145 of the Charities Act 2011, the accounts have been examined by an independent examiner and their report has been included in these financial statements.

The directors (who are the charitable company's trustees for the purposes of charity law) acknowledge their responsibilities for:

The financial statements have been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on …...........................17 September and were signed on its behalf by:

………………….……. ………………….……. DERMOT TRIMBLE GOURI KUBAIR hems Vinhte im Ee Company number: 4273231 Charity number: 1091059

11

EPIC ARTS

NOTES TO THE ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1 Statutory Information

The charity is a charitable company limited by guarantee and is incorporated in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2 Accounting Policies

These financial statements are prepared on a going concern basis, under the historical cost convention.

These financial statements have been prepared in accordance with the "Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) ("the Charities SORP"), with the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland ("FRS 102"), with the Companies Act 2006 and with the Charities Act 2011.

The principles adopted in the preparation of the financial statements are set out below.

a) Going concern The trustees (who are the charitable company's directors for the purposes of company law) have assessed whether the use of the going concern basis is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of the financial statements. In particular the trustees have considered the charity's forecasts and projections and the possible implications should projected income and / or expenditure vary unexpectedly. The trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue to operate for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements.

b) Income Income including investment income is recognised in the period in which the charity becomes entitled to receipt, the amount receivable can be measured with reasonable certainty, and receipt is probable. For the most part, income is generally recognised when it is received. Income is only deferred when the charity has to fulfil conditions before becoming entitled to it or where the donor has specified that the income is to be expended in a future period.

Income from donations and legacies includes:

The charity relies on volunteers to carry out many of its activities. However, in accordance with the SORP, the value of these services has not been included in these financial statements as they cannot be reliably measured.

When donated goods, services and facilities are distributed or consumed, an expense in respect of those items is included in the Statement of Financial Activities. At the year end any goods that have not been distributed or consumed are recognised as stock; donated fixed assets are capitalised.

iii) Legacies. Income from legacies is recognised when a distribution is received from the estate or, if earlier, when the charity has been notified that a distribution will be made and the amount receivable can be measured reliably.

Income from charitable activities represents income receivable from goods, services and facilities supplied in furtherance of the charity's charitable objects. It includes income from the charity's social enterprises: Creations shop, cafe and the dance group Epic Encounters.

Other income includes rental income.

The cost of raising funds is not significant and has not been separately disclosed.

Governance costs, which are included in expenditure on charitable activities but are identified separately in the notes to the accounts, includes costs associated with the independent examination of the financial statements, compliance with constitutional and statutory requirements and any other expenditure incurred on the strategic management of the charity.

12

d) Fund accounting General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity. Designated funds comprise unrestricted funds that have been set aside by the trustees for particular purposes. Restricted funds are donations which are to be used in accordance with specific restrictions imposed by donors; they include donations received from appeals for specific activities or projects.

e) Tangible fixed assets

Items purchased or donated for the charity's own use are capitalised when the cost of purchased items, or the fair value of donated items, is more than £1,000 and the item is expected to benefit the charity over more than one accounting period. Depreciation is charged on a straight line basis so as to write down the value of each asset to its estimated residual value (if any) over its expected useful economic life. To achieve this objective the following rates of depreciation are charged:

Motor vehicles Equipment

Over 4 years on a 25% straight line basis Over 4 years on a 25% straight line basis

Property purchase and improvements undertaken in Cambodia are treated as an expense in the year the expenditure is incurred since, under Cambodian law, property is not owned by the charity. Any expenditure is separately detailed in note 6.

The carrying values of tangible fixed assets are reviewed for impairment in periods when events or changes in circumstances indicate that the carrying value may not be recoverable.

Stocks of goods purchased for re-sale are stated at the lower of cost and net realisable value.

g) Taxation The company is a registered charity; it has taken advantage of the various reliefs from taxation available to charities and no UK tax is payable on the charity's income.

h) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement as financial assets or financial liabilities. The charity only has financial assets and liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value. They are subsequently measured at amortised cost using the effective interest method, except where the effect of discounting would be immaterial, in which case they are stated at cost (less impairment where appropriate).

iii) Non-monetary assets are measured at historic cost at the rate of exchange prevailing on the date of the transaction and are not subsequently re-translated.

All differences arising from the application of the above policy are charged (or credited) to the Statement of Financial Activities.

j) Exemption from preparing a cashflow statement

The charity has taken advantage of an exemption conferred by the Charities SORP and has not prepared a cash flow statement.

k) Critical accounting estimates and areas of judgement The trustees do not consider that there any material sources of estimation or uncertainty at the balance sheet date that could result in a material adjustment to the carrying values of assets and liabilities in the next reporting period.

3 Donations and legacies

Donations of cash and similar
Other grants receivable		 Unrestricted
Funds
£
48,362
6,491
54,852		 Restricted
Funds
£
-
190,966
190,966		 Total
Total
2024
2023
£
£
48,362
37,727
197,457
185,510
245,819
223,237
Income from charitable activities
Café sales (to 12 May 2024)
Shop sales (to 12 May 2024)
Workshops & Events
Other income
Fundraising income
Other income
Charitable expenditure
Costs incurred directly on specific activities
Project costs and related staff costs
Café and related staff costs
Shop
Rent and rates
Costs incurred on support & administration
Governance costs
Cost of accounts preparation & independent examination
Board meeting costs
Core office running costs
Office equipment costs
Exchange differences
Depreciation of tangible fixed assets
Repairs and maintenance
Office utility costs
Legal and professional
Telephone and internet
Bank charges and fees
Total expenditure
Cost of raising funds
Fundraising costs		 Unrestricted
Funds
£
52,685
1,642
20,015
74,342
Unrestricted
Funds
£
30,413
21,084
51,496
UK
£
11,073
-
-
-
11,073
(190)
-
(190)
595
-
405
11,478
Unrestricted
Funds
£
9,936
9,936		 Restricted
Funds
£
-
-
-
-
Restricted
Funds
£
-
-
-
Cambodia
£
212,692
38,174
1,382
1,439
253,687
-
-
-
11,935
7,002
(631)
134
9,054
12,555
1,238
1,070
326
42,685
296,372
Restricted
Funds
£
-
-		 13
Total
Total
2024
2023
£
£
52,685
107,805
1,642
8,995
20,015
22,753
74,342
139,553
Total
Total
2024
2023
£
£
30,413
21,084
12,428
51,496
12,428
Total
Total
2024
2023
£
£
223,765
222,502
38,174
104,087
1,382
3,994
1,439
6,897
264,760
337,481
(190)
45
-
-
(190)
45
12,530
35,666
7,002
14,335
(631)
4,324
134
320
9,054
5,331
12,555
4,092
1,238
-
1,070
1,214
326
376
43,090
65,703
307,850
403,184
Total
Total
2024
2023
£
£
9,936
-
9,936
-

4 Income from charitable activities

5 Other income

6 Charitable expenditure

a Costs incurred directly on specific activities Project costs and related staff costs Café and related staff costs Shop Rent and rates

b Costs incurred on support & administration Governance costs Cost of accounts preparation & independent examination Board meeting costs

14

8 Theft of funds

Theft of funds (see Note 21)
Less amount returned		 Unrestricted
Funds
£
-
(2,298)
(2,298)		 Restricted
Funds
£
-
-
-		 Total
Total
2024
2023
£
£
-
-
(2,298)
(804)
(2,298)
(804)

9 Analysis of staff costs, the cost of key management personnel and trustee remuneration and expenses

Gross wages and salaries (and social security costs)

2024 2023
£ £
168,108 214,954
168,108 214,954

The average monthly number of employees during the year was 43 (2023: 55).

No staff received salaries at a rate of more than £60,000 per annum.

The charity's key management comprise the trustees and the key staff named on the Company Information page. Total employment benefits payable to key management for the year were as follows:

Key management connected to trustees:
Other (non-trustee) members of key management		 2024
2023
£
£
45,932
43,398
45,932
43,398

No trustees received employment benefits in either the current or preceding year.

10 Tangible fixed assets

Cost
At 1 January 2024
Additions
At 31 December 2024
Accumulated depreciation
At 1 January 2024
Charge for the year
At 31 December 2024
Net book value
At 31 December 2024
At 31 December 2023		 Fixtures,
fittings and
equipment
£
5,539
-
5,539
5,539
5,539
-
-		 Motor
Total
Vehicles
2024
£
£
8,591
14,130
2,041
2,041
10,632
16,172
8,591
14,130
134
134
8,725
14,265
1,907
1,907
-
320

11 Stock

Since 13 May 2024 the Epic Arts Café has been a separate registered entity so there was no stock on hand for Epic Arts at 31 December 2024.

Purchased for re-sale, at cost £
£
-
1,461
-
1,461
tors
Falling due within one year:
Donations Receivable from Epic Cafe
Other debtors
Outstanding Advances to staff
Prepayments and accrued income
Total debtors		 15
2024
2023
£
£
9,610
10,568
2,160
1,507
-
169
2,170
21,854
4,330

12 Debtors

13
Cash at Bank and in Hand
Cash at Bank - UK
Cash at Bank and in hand - Overseas		 2024
2023
£
£
39,815
18,708
38,236
29,119
78,050
47,827
Other creditors
Accruals
Deferred income		 2024
2023
£
£
1,382
3,928
2,447
3,523
-
2,059
3,830
9,510
15
Deferred income
Within one year
Deferred income comprises the following:
Balance at the beginning of the reporting period
Amount released to income
Amount deferred in year
Balance at the end of the reporting period
The income deferred at the period end will be released to income over the following periods:		 2024
2023
£
£
2,059
40,058
(2,059)
(40,058)
-
2,059
-
2,059
-
2,059
-
2,059

The balance on deferred income represents performance-related grant monies, and contractual monies, being received in advance of the conditions controlling entitlement being fulfilled.

16 Pension commitments

There are no employer pension costs for Cambodian staff. There are payments made monthly for workers compensation and medical insurance.

16

17 Funds

During the year the movements in the charity's funds were as follows:

General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Café Building Project
World Childhood Foundation
FELM
Caritas
UNDP (CCC)
Friends International
Local Fundraising for Community Support
Aggregate of funds		 Opening
balance
2024
£
10,169
10,169
17,459
5,011
2,165
7,575
1,170
559
-
33,939
44,108		 Incoming
resources
2024
£
180,691
180,691
106,191
81,798
(1,170)
2,443
1,703
190,966
371,657		 Outgoing
resources
2024
£
(131,356)
(131,356)
(1,071)
(99,397)
(81,796)
-
(3,002)
(1,163)
(186,430)
(317,786)		 Transfers
Closing
in the year
balance
2024
2024
£
£
-
59,505
-
59,505
-
17,459
-
3,940
-
8,959
-
7,578
-
-
-
-
-
540
-
38,476
-
97,980

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Fixed assets
Stock
Debtors
Cash at bank and in hand
Current liabilities		 General
funds
£
1,907
-
21,854
39,574
(3,830)
59,505
Unrestric		 Unrestric Designated
funds
£
-
-
-
-
-
-
ted Funds		 Restricted
funds
2024
£
£
-
1,907
-
-
-
21,854
38,476
78,050
-
(3,830)
38,476
97,980

17

In the previous year the movements in the charity's funds were as follows:

General Unrestricted Funds
Total Unrestricted Funds
Restricted Funds
Café Building Project
Inclusive Education Programme
World Childhood Foundation
FELM
Caritas
UNDP (CCC)
Friends International
Aggregate of funds		 Opening
balance
2023
£
16,715
16,715
28,818
21,807
3,884
-
-
-
849
~~-~~
55,358
72,073		 Incoming
resources
2023
£
230,570
230,570
-
884
18,695
63,826
24,672
18,742
17,829
144,648
375,218		 Outgoing
resources
2023
£
(237,116)
(237,116)
(11,359)
(22,692)
(17,568)
(61,661)
(17,096)
(17,572)
(18,120)
(166,068)
(403,184)		 Transfers
Closing
in the year
balance
2023
2023
£
£
-
10,169
-
10,169
-
17,459
-
-
-
5,011
-
2,165
-
7,575
-
1,170
-
559
-
33,939
-
44,108

Analysis of net assets by fund

The assets and liabilities of the various funds were as follows:

Fixed assets
Stock
Debtors
Cash at bank and in hand
Current liabilities		 General
funds
£
-
1,461
4,330
13,888
(9,510)
10,169
Unrestric		 Unrestric Designated
funds
£
-
-
-
-
-
-
ted Funds		 Restricted
funds
2023
£
£
-
-
-
1,461
-
4,330
33,939
47,827
-
(9,510)
33,939
44,108

The purposes of the restricted funds are as follows:

Café Building Project

Money donated towards the planning, purchase and development of a new café building in Cambodia.

Inclusive Education Programme

These programmes provide high-quality, creative and inclusive educational opportunities for children and young people of all abilities.

World Childhood Foundation

Funding to enable Epic Arts to address child protection issues in Kampot..

FELM and Caritas

Funding to support inclusive education programs

UNDP - CCC

Networking and support for NGOs operating in Kampot

Friends International

Funding provided by UNICEF to support community projects

Local Fundraising for Community Support

Fundraising events held in Kampot to provide community support not covered by donors

18

18 Operating lease commitments

Within one year
Between one and five years
Since 13 May 2024 the Epic Arts Café has been a separate registered entity so there are no operating lease com
December 2024.
Payments falling due:		 2024
2023
£
£
-
1,900
-
-
-
1,900
mitments for Epic Arts at 31

During the year the charity was charged £1,376 (2023: £3,495) for its operating lease (translated at average annual rates).

19 Transactions with related parties

During the year the charity:

20 Members

Each member of the company commits to contribute if the charity is wound up an amount of £10.

21 Recovery of funds

As noted in the 2018 Report and Accounts, the charity became aware in June 2019 of an internal fraud in the Cambodian operation which had been perpetrated since 2013, resulting in £74,569 of cafe takings (all in the general fund) having been misappropriated. At 31 Decmber 2024 all of the stolen funds have been reimbursed. The table below shows the periods in which the fraud occurred, and to which the reimbursements relate:

2013-2016
2017
2018
2019
2020
2021
2022
2023
2024
Total as at 31 December 2024		 Amount
stolen
£
38,175
7,697
14,806
13,891
-
-
-
-
-
74,569		 Amount
reimbursed
£
Net
expense
£
(31,277)
6,898
(7,697)
-
(14,806)
-
(13,891)
-
(1,566)
(1,566)
(1,452)
(1,452)
(800)
(800)
(782)
(782)
(2,298)
(2,298)
(74,569)
0

The opening balances for 2018 have been restated as shown in Note 17, and the comparatives presented in these accounts have been re-stated so that they reflect the costs associated with this fraud. A reconciliation with the reserves and results reported previously is as follows:

Allocation of funds recovered

Reimbursed
Recovery of funds - Income in year		 2024
2023
£
£
2,298
782
2,298
782

22 Transfer of Net Assets to Epic Arts Café

Epic Arts Café was registered as a separate business entity from 13 May 2024. Net income from the Café and Creations shop to 12 May has been included in the accounts. Net assets of £9,597 were transferred to the registered Café on 13 May 2024 and have been recorded as owing to Epic Arts.

23 ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

19

EPIC ARTS

DETAILED STATEMENT OF FINANCIAL ACTIVITIES WITH COMPARATIVES FOR THE YEAR ENDED 31 DECEMBER 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations and legacies
3
Charitable activities
4
Other income
5
Recovery of funds
21
Total income and endowments
EXPENDITURE ON:
Charitable activities:
6
Raising funds
7
Total Expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 2024
£
54,852
74,342
49,198
2,298
180,691
121,420
9,936
131,356
49,336
49,336
49,336
10,169
59,505
Unrestricted Fu		 2023
£
78,589
139,553
11,624
804
230,570
237,116
-
237,116
(6,546)
(6,546)
(6,546)
16,714
10,169
nds - General		 2024
£
190,966
-
-
-
190,966
186,430
-
186,430
4,537
4,537
4,537
33,939
38,476
Restricte		 2023
£
144,648
-
-
-
144,648
166,068
-
166,068
(21,419)
(21,419)
(21,419)
55,358
33,939
d Funds		 Total
Total
Funds
Funds
2024
2023
£
£
245,819
223,237
74,342
139,553
49,198
11,624
2,298
804
371,657
375,219
307,850
403,184
9,936
-
317,786
403,184
53,872
(27,965)
53,872
(27,965)
53,872
(27,965)
44,108
72,072
97,980
44,108