Company registration number.. 4101324
Charity registration nufftber.. 1093556
Zion Arts Ceiitre Limited
known as
Z-Arts
(A conipany limited by guarantee)
Anniial Report and Financial StaleAnents
for tli¢ Year Ended 31 Malrh 2024

Zion Arts Centre Limited
known as LArts
Contents
Referencc and Admini.qlrative Details
TTUStees' Annual Report (Inco￿oi￿tirtg the Directo￿, Rcport)
2tolO
Independent Auditors, Report
11 to 14
Consolidated Stalem¢nt of Financial Activities
15
Consolidated Balarnce Sheet
16
Balance Sheet
17
Consolidated Sialement of Cash Flows
18
Notes lo the Financial Statements
19to37

Zion itrts Centre Limited
known as Z-Arts
Reference 2nd Administrative Details
Ti'ustees
A Barkatali
F Bennett-Nielsen
Coombs
A Gill
E Kane
R Kapoor
M Kunda
N Noor
J Pickett
E Ransomc
L Wallwein
Seei'etary
E Oweill
Charlty Reglstradon Number
1093556
Company Reg15ti'atlon Number
4101324
The charity is incOr￿rated in England and Wale8.
335 Streiford Road
Hulme
Manchestei.
M15 5ZA
Reglstered Offlce
Auditoi.
Beever and Strutliers
Cliartered accounlant & statutory auditor
Suite 9b
Tlie Beebive
Lions Drive
Blackbiirn
BBI 2QS
DWF LLP
S Castle Street
Liverpool
L2 4XE
Sollcltors
Bartkel's
CAF Bank
25 Kings Hitl Avenue
Kings Hill
West Malling
Kent
ME19 4JQ
Page I

Zion Arts Centre Limited
known as &Arts
Trustees, Annual Report (Incorporating the Dxrectors, Report)
Tt)e trustees, who are dii'ectors for the purposes of wiiipany law, prasenl Ilie annual repoi't togethei. wid) tlie
financial stateniettls and awlilors, report of the charitable coinpany for the year ended 31 March 2024.
Objectlves aiid aetLvities
Objecls uiid aiiiis
Z-arls is the UK'S only dedicated arts cents'e for childL'en gJ]d families. an arts oi'gaiiisatioi) willi national
significance whilst still Iiolding a rol¢ as the cultural epicenlre of Ilie Hulme comniunity. In 2023-24 we
welcon)ed 73,275 visitors to the building, and delivered 70,314 creative ititeractioi)s.
The Charity's objectives are: _
To pi'omole, maintain, irnprove, develop and advance piibli¢ educatitsn and training in the arts foi. tlie benefii of,
bul not IiT)iilcd to, young people. by op6rating a centre for tlie prescntation for the public of music. opei'a, dancc,
drama, the visual aits, films, video, multimedia, soiind. exhibilions of 811 kinds as aie conducive to tlie
proinolion, maiiitenance, improvement and participation in and advaiiceinent of ediication oi. to tl)e
encoui'agement orth¢ art8, whether on premises owned or le&sed by Ihe Company oi. elsewliere.
Z-arts uses ci'eativlty to iiispire, enricli and enable children, young people and faniilies to reach Ilieir pot¢ntial
and be the agents of change in their own lives.
In Our Arts Centre in Hulme, in education, in comniunitics, at honie and across networks
Developing Cliildren, Young People, Educator& Artis18 and Fainily-togetherness
Objeclives, sli'alegi&s' aiid ficlivilies
The Charity's main activities are: _
'Tlie promotiott and facililalion of arts evenls and aetivities for cl)ildren, young p¢opl¢ and families.
Page 2

Zion Arts Centi"e Limited
known as ￿ArtS
Trusteesl Annual Report (Incorporating the Directors, Report)
Achievements and pei'foymance
arts mission is lo make a differeiice to tbe lives of some of tlie most disadvaiitaged cliildren in Mancliester,
Iliereby iinproving tlieir lives through inciEasing tlieir mentsl ai)d pliysical healtli and well-being. We do this
tiii'ougli..
P&rticlpotlon:
In 2023124 we i'etumed close to pit-paThd¢mic numb¢rs. with 29,798 participation eiigagements in the following
pix)gratTlln¢s:
• Bi'lght Sparks
Aftei'.school, weekend, lioliday activities across all art fonns for ages 5-12+, plus pre-scliool aiid faiiiily
activities. with over 10,000 engagements from 697 individual nieinbers accessing a choice of 1635 sessions.
• External participatioii In¢ludlng seliool8
11,083 participation engagements outside of our buildTng, delivering creative eurriculurn and enrichnient
activities in schools, we work closely with tlie 5 piimary schools and nuiE¢iy school in the wArd, as well as local
secondaiy scliools, NHS s¢lioo18 prO￿2M1]leS and Manchester Metropolilaii Ui)iversity, on our doorstep; in a
tolal of 81 schools acL'OS8 th'eatei. Manchesler and over l 0,000 engagements.
Strategic Lead foi. MADE Cultural EducAtlon Partner$hlp
MADE is a coll8boratioi) between Cul￿re aiid education or8anis&lions from across Mancliester, including ait
galleries, museunis, theatres. seliools, collcgcs and many n)ore. All ac¢iviti¢s focus on foul. pillai's.. a ci'eative
cun'iculuin for Maneliesl¢r' Healili & wellbeing. youd) voice. eniployability, In Noveinber 2023 MADE becanie
an independent coinparjy liinited by guarnntee. but reinains based at Z-arts.
Childi'en's Ilbrary
Oui. new libi'ai'y (opened in October 2022), designed by Children. who also cliose tlie kind of books they'd like it
to hold, lias becoine 8 miieh_loved part of our offer, with I'eprescntative diverse books and carly-yeai's events
ply)￿aMnie to support literacy and a love of readil￿ I stories: 393 membeiE witlldiiwllig almost 4,000 books,
&nd reaching a iecoi'd 6,000 vxsiloi's in tile last quarier.
Perfoi'mance
Childi'ett's Theatre
A l)igli quality diverse, rcpitsentalive programnie mix of popular naines and experinienlal work foi. child￿n and
families in £-arts th¢alre ages 0-12+. Tlie qiiality of tbe piDgramme and the markcting tean) has led to 11,283
audiences, oiu. most sue¢essful year in tlieatre attendance.
Blg ImaginAtlons
This year we also ¢elebrated ten year8 of managing tlic Big ID]aginations childirii's theatrc nctwork, supportiiig
Illld facilitattng a cliildren's theatre ￿'0￿ry￿￿me across some of die iiiost reniote areas in tlie Noitliwesl, helpinE
fiu'lher 13,892 people see theatre for faniilies in areas wheie it wouldn't noi]llally be available (niore than
double the audientts we liad ill the pi'evious year).
Page 3

Zion Arts Centi'e Limited
known as LArts
Trustees, Annual Report (Incorporating the Directors, Report)
4 Discover exliibition
This year saw a change-over in our annual inmiersive. interactive exliibilion based oil children's literatuie, for
ages O-8+. Faiiytales ended in Deceniber. aftei. almost two years in place, and was followed by Rob Biddulpb's
100 Sioly Hotel, whicli opened in February. In kntal we I'eceived over 9,000 publxc And schoul visitors, with
niany returners, showing how popular and higli quality the offer is.
F4mfily Escape Rooiii
Our Family EscApe Room Op￿]ed in Api'il 2023, with the r￿st year proving veiy popular, and attracttnE 1,445
visitors froni as fai. away as Austs'alia as as local families.
Community engagement:
•Con8ultation groups Tlie Z-arts Fan Club {made up of faniilies who attend oft a regular basis) illeet to offer
advice on mAny aspc¢ts of our woi'k, including designing the ¢afé menu, selecting shows for tlie tIl￿tre, oi.
feeding ideas into new classes, proj¢¢ts or ai'eas.
.Communlty Events woi'king with cuttuiiunity groups and other local chai'ities and 01.8anisations e.g. Hulrnc is
Wherc Tlie Ait is and the Wijiler Festival ¢8ch widi an eslimaled 500 people attendii)g.
•Communlty nettvoi'ks,. Teengaging with diverse conu)iunity networks in Il)¢ area
Artist Developmeiit:
An Arts Council England NPO (Natioi)al Portfolio Organisation) uplift specifically to support and grow oui.
ai'¢ist devclopnient prograinme lias gone from strengtli lo slrengtli.
•Performers dLVLlopiiient pi'ogrgnime
Siippoited by a n¢w pi'odu¢¢r on the team, our newly regained studio tlicatrc (previoiisly sub-let) lias been busy
witli artists making woik foi. young audiences foi. 170 days. Wilh a focus on diverse artists, d)is ycar we invested
in 14 new picces of work, working with 77 artists or companies.
•Cre*llve F#elllt%tor Tr*ining pro£r*mme
The second year of our training and developnient pro8ramme has seen I l enliy level artists gain skills and begin
einploynienl as an artist 11)rougl) supporting our participalioii prograinme. Tlie cohoit runs SeptembeA' Jiine,
with successful graduates coiitiiiuing einploylnent withi'n tlie creative teain.
.Mountvi¢)v TlioRtI'e School: Foundation dlplomA
Tiiis yeai. we eulered the second ycar of a new relationship, hosling tl)c Man¢liestei' branch of Mountview
Tlieatre's School's foikndation, incrcasing to a 2-form y¢ai'" suppoiting new (alenl wliilst at th¢ sam¢ liine
i'eplacing room Iiire income, previously lost aftei the pand¢mic.
Page 4

Zion Arts Centre Limited
known as Z-Arts
Trustees, Annual Report (Incorporating the Directors, Report)
In sl)aping In￿ objeetives for the year planning our activities, tl)e trustees liave considcred the Cbaiity
Coniinissiofj's guidance on public benefit, including the guidance on public benefil and fee cliarging. The
cl)aiity relies on the voluntary 5etvices of the trustees, and on grants and the illcoii)e fiDin fees and cl)arges to
cover ils operating c04ts. In setting the level of fees and cliarg&s th¢ tsu$￿e8 give consideration to the
accessibility to activities for those on low iMcom4 ensuring that tliei'e is always a range of fl'ee activities and
ci'eative CllEageni¢nts for local famili&8, alongside p8id activities tbat help develop inconie.
Based in Hulme, we eonunitted to supporting our local COiTununities as well as redching out acros8 Greater
Manchest￿. and tlie Noitiiwest. We operate from a large Edwardiaii building wbicb includes a 230-seat tlieatsE,
gallery, I'ecoi'ding studio, music ID01￿ danee studio, café and numerous other rchcarsal I meeting rooms. But
tliere is niuch more to wl)at we do tliat is outside of the building.
We lead netwoi'ks.,
Big linaginations cliildren's theatre iietwoi'k, bringing brillianL cliildren's dieati'e to all ai'cas of the Noi-Ihwe$l,
MADE {Manchester Cultural Educaiion partnership) witl) a vision lo make Manchesler a beacon foi. creative
education, where the ails add Inagic lo life expeiiences and leaming for eveiyone.
Manchestei. Family Arts Network, improving family provision across Cul￿￿1 venues in Man¢hes¢er,
We engage with Communities:
• Scliool communities act'OSS Breatei. Manchester, bringing creativity into education in boil) creative subjects and
STEM subjects
. In our coinmunity, with large scale outdoor events like Hulme Is Where The Art is and the Wint¢i' Festival
Hulme Pai'k
Our values Lut through everytl)ing that we do, with our children, young people, families, visitors ud staff teain.,
Welcoming, Inclusive, Vibi'ant, FoNard-Il)inking, Engaging and Fwi.
aim
Prlmary Aim: Clilldren
Cliildren, yOVllE peoi)le and families attoss Greater Manchester and the wider North will have Biuler influetice
ovei., and gain more creative skills through 8 wide-reathing niulti-art-form eniicliiiient progrunmie,
Secondary alms:
Per(orm*nces
More, excellent perfoiinances for cliildr¢n and fAmilies will be available for audientts aeross the Nortli
Audieiices and P%R'ticlp8nts
Wc will rebiiild and gl'ow cxisling aLidiences, with a greal¢i' nuinber of diverse audienccs engaging witli and
benefiting from our wide-ranging programmc
Ai'ti$ts
Mol'e divei'se arlL8ls wAll be nurtured and supported to niake excellent contemporaiy thcatre, pei'formance and
ar15 actiVLties for children and families, willi moit opportunities to sliare tlie work and leAming regionally,
hationally and inten￿tIOnally.
Organisation
To grow as A Yesilien( nationally respecte4 strategic lead dclivering best practice in performancc and
parlicipatoi'y arts activiti￿ and cvcnts for children and fAniiiics.
Page S

Zion Arts Centre Limited
knowtt as LArts
Ti'ustees, Annual Repoi't {Incox'poratiiig the Directoi'sl Report)
Ah Arts Council Eiigland (ACE) National Portfolio (NPO) uplift was granted in diis year. totalliiig £401,853 pla
for three years (now extended until 2027), an it)CKease froni tlie pi'evious grant of £255,000 pla. We also
received £184,488 pla core funding froill Manchester City Cour)eil (MCC) and £54,725 froin Gi'ealei.
Manchester Combined Autliorities (GMCA).
Terms of occupation aiid sub-lettlng of preni5se8
Thc company occupies premiscs owned by Manchester City Council. Tliere are tell yeai's itiiiainiiig of a 25 year
lease. Negotiations l)av¢ begun to extend the lease, with landlords collfwming a letter of assurance in Ibe
tneantime.
Piihlic beiiefil
The tiustees confirn) tl)at they have complicd with tlie reqUi￿￿entS of section 17 of tlie Charities Act 2011 to
ave duc regard lo tli¢ public ￿nefit guidan¢¢ publisl)cd by Ilie Charity CoInmissioii for Eiiglalld and Wales,
Financi41 revlew
The Con)pany has cxperienced a positive yeor financially, largely in line with budget expectations 8et out 4t tlie
slai't of Ilie year. Total funds increased by £99,935 to £859,828 {2023.' £759,893) Uni'eslricled funds de¢r¢ased
by £18,947 10 £433,961 {2023: £452.459) This decrease was due to capital depreci81ion of £34,561. Fl-ee
reseives increa8ed in Ilie yeai. by £14,952 10 £268,865. Restricted fuiids increascd by £118,433 primarily
because of an Arts council capital grant whicl) will be offset by depi'eciation ovei. Uie ¢oniing yeai'8.
TolRI inconie incitased by 12 0/0 to £1,618,528. Donations and legacics were higher partly as a i'esult of tl)e ACE
capital grant but also tlirough an uplift iii the ACE NPO fvnding. Iiicome fi'om charitable activities fell by
16.90/0. Eained income Ilii'ough box office, venue l)ire and rentals reniained tlie saiThe as tlie previous year, but
the fall in restricted project grant in¢ome is indi¢alive of the currenl cliallenging envÉroMnent foi trusts and
foundations fiEi)ding. l.lighei' interest ffdtes Conli'ibutcd lo an increase of £11,940 In invesuiient inconie. Tlie
trading subsidiary incoine increased by 31.90/• 10 £105,799 (2023.. £87,217) Tliis increase was driven by tlie
opening of our faniily friendly escape rooni wliicli sold out for the whole year.
Tolal expenditu￿ increased by 3.5•/0 to £1,518,593 {2023: £1,466,612) Trnding company costs inci'eased iij line
willi incon)e as the additional profits from Ilie trading subsidiary were donated to ilie Cliarity. Cliai'iLable activity
costs increased by 2.1 O/ but this was lai'gely driven by increased depreci21ion cliai'ges. Prop¢Jty costs Irduced as
the cost of ulililies fell slwply as cxpcetcd.
Page 6

Zion kn.ts Centre Limited
known as Z-Arts
Trustees, Annual Report Uncorporating the Directors, Report)
Policy oil ieserv¢s
Z-arts fi'ee I'eserves target figurc should fall between 8 and l2 weeks of annual turnovei. (excluding any capital
gi'ant income). The target figure and this policy will be reviewed annually at boai'd level. Free ieserves al'e
calculated as um'eslLiGlcd LeseLwes minus Unrestricted fixed assets book value minus any other slated designated
Yeseives
Z-ai'ls Reseive Policy priorilises the closure contingency of £218.090 ringfencing this amount fLt%t. A fvrtbeT
reseive contiiigency of £50,000 should be held as a) L eolllingen¢y in case of unforeseei) loss or reduction of any
revenue stream, b) funding being lost for any kcy projects 10 allow ihat pi'oject to continue for 6 montl)s wliilst
aliei'native fuiiding is sou81)t and c) a suiii to be used as matcli fijnding to advantage of any funding
oppoi'tunities that may al'is¢ tl)At would allow future creative projects. Thcse figur￿ give a iotal reserve tai'get of
£268,090.
It is deemed necessaiy to hold a closure contingency to allow for the winding down of the chai'ity should tlic
org&nisation bc forccd lo close for unseen circiiinslances.
Wind down staff Calculations have been calculated at x3 moiiths commitment to 5eiiior inanagcment statT
SaI￿1eS aiid slatutoiy i'edundancy payI)ients for otliei. staff. A furthei. figw'c accouuts for 3 1)ioiiihs of Ilie annual
ovei'heads budget (excluding salaries) lo allow the building to reinain open to facilitace an ordei'ly wind down,
Any reserves held over tlie target figure will allow for a negative budget lo be set for d)e following yeai.
allowing niorc spend on key creative projects wliicli furtlier tlie cliariÉi¢s chai'itable aims.
Z-arls conliniie to diversify their fiinding streanis ihroiigh earned inconie, public bodies and private sponsorship
to rediice i'eliance on any singlc source of income.
Following a positive financial perfoiniancc our free reserves now stand at £268,865, in line witii oui. i'cscivc
tai'get figure. Tlie budget for the year 2024-2025 anticipates a ￿nall {£6k) reduction iii oui. frcc i'escrves.
Plans for futui'e periods
Aittis diid key objecilvesfoi'fuliiie periods
We receiv¢ strategic fiinding from Mancheslcr Cily Council, to lead on bul pi'actice for engaging children and
young people in aits and cultw'e. Wc are an Arts Council England N81ional Poitfolio Oi'ganisation, leading and
dclivering the Big Im8gin8tions i'egional network of childi'en's theatre, progi?Inming and ¢oimmissioning
rclevanl, diverse theatre fnr d)c inodcrn rainily. Our GMCA funding enables us lo conttibute to the GM Cultui'al
Str&tegy.
In the previous year we had reached engagcrnent figw'es comp&rable to PLE-pandemic, so we sel a 3-ye￿. tat.get
of achieving 70k in 2026. We acliieved tliis in the fll'51 year I, so we have i'evised our targets yet again will) an
aggregated increase target of 90/0 in 2024125.
Our priorities are to offer ¢realive opportunities lo children and fainilies who need it inost, iticluding i'eflectillg
and represenLing tlie diverse conlllliTnitics Il)at surround us.
As well as continuing to offei. all activities mentioned above under 'aclllevemenls and peifoiinance,.
Page 7

Zion Arts Centre Limited
lthown as LArts
Ti'ustees, Annual Report (Incorporating the Directors, Report)
A¢ilvltiesploiined io ochieve uiiiis
.An Early Years programme in partnersliip with Creative Healtli Greater Manchester, pioviding training and
essential eaily Yea￿ support across Manchester's family hubs and librarAes.
.Cliildren's libi2ry piDgr8mtiie continues to grow. with a new Stoiyteller in Residence. Jan Blake
.Ai'tisls Developiiient Progi'ainme. Em'oviding n)ore training, developinent aod perfom]ance opportuntties for
divetEe artists iJ)aking work for young audiences.
•Crea¢ive educa¢ion supporting the cultural and educalioll Secto￿ to use creativity aci'oss Ihe cun'iculum, to
niaximi8e leai'ning and employment potential
4Environmental Awareness Advocacy, by pyograinming and profiling an Environnienlal Awat¢nw we¢k aimed
at oui. childi'en and families, and starting to exploiz plans to create a outdooi. learning spocc,
.Improving access and inclusion by programmlng mol'e Z-a￿¢58 f￿n￿lY arts eveiils foi. families with additional
needs, and working with landlords Manchester City Council lo idettlify access improvements for the building,
Z-ails will continue to play a role as a niajor contributor to tlie cultural sector, by f8ciliiatiiig creative and
Cul￿ra1 networks and partne1￿111p models. ai)d by providing training and developinent for cliildi'en, young
people, and artists at tlie slait of their Career.
Golng concerii
Tlie ts'LlStees Iiavc considered current rtsks including inflationary pi'essiires on w8ges and and th¢ effect the
ongoing cost of living cl'isis could liave on future audiences, wllcn considering whediei. the Coinpany is able to
operate as a going concern, After car¢fully consideiing tlie Coinpany's financial position and foircasts, the
stees liave ¢oncluded that il is appiDpriate to adopt the going concern basis of preparation.
This position lias been infonned by a nurnber of facto￿, including:
. Tile eontinued support of Arts Council England tI￿ough NPO fijnding, MCC tl)tDugli ils revenue grant fundiiig
and continued GMCA funding.
Tlie ongoing parlnersliip willi Mounlview theatre school wllich is increasing in size tliis yeai..
Ii)creased ongoing inconie from the li'ading company priniarily Ihrough sales of tli¢ escape room.
Robiist and appi'opi'iate cost control measui'es in place to CDsure annual costs delivered in linc with aiinual
budgcl, wliilst continlially itvicwing oppo￿]nitieS to reduce c(*sts sucli as energy efficiency measurcs to itdiice
enei-gy usage.
A i'eserves policy which has enabled rcscwes to increase to allow for any short-terni downtynis iii incollie oi.
Support.
P&B¢ 8

Zion Arts Celltre Limited
known as &Arts
Trustees, Annual Report (Incorporating tlie Directorsl Report)
Sti'uctui'e) govei'n8Dce and mAnvdgement
Noliire ijfgoveriiiiig ddciiiiient
Z-arls is governed by a board of voluntary trustees, WI￿ employ a Chief Executive. Tliere is a Senioi.
Management Team of four. Decisions ait made at Bxecutive level, with decisions tliat bave an iinpact on the
busincss or a financial cost of ovei. £2,1i00 being taken to tllJ8tee level. Tlie CEO Reports to tbe tLlJStees on a
qiiaL'tei'ly basis, in addition tliere is a quarterly finance sub_eoiiuniltee and focus groups rcpoi1ing to the tivs'lees
on specific initiatives as required. All tswtee and staff roles follow safe and inclusive i'ecivitilleiit pi'ocedui'es
and underlakc DBS ¢he¢ks. All saI￿.1¢S have been benchniarked against otber Arts organisations to ensure that
they are coiiipaiible and appl'opriale for the organisation. Tlicre is a thorough Terms of Reference for trnstees
and an induction procedure wluch was updated in April 2024.
Relatlonshlps wlth related pfirtles
None of tlie trustees receive reniuneration or any other benefits fiDm their ttwsteeship. Eaclj year InLStees
complete a Conflict of Intei'est Statement and a Decl￿￿tion of Commitment SiatemenL Any connection between
a trustee oi. a senior maiiag¢i' and 8 company, institution ort artist that Z-arts engages with inust be stated in this
forn, or at a rneetitig if it occurs duriiig the year. In Ihis year we l)ave appointed two new tsuslecs. Clli. Einily
Rowles, appointed by Manchestei. City Couneil, who lease the building to Z-arts provide sti2tegic core
funding, resigiied for personal i'easons and is not replaced until Septeinbei. 2024.
Mftlor rl$ks aiid iiiaiirtgeiiieiit of ilio$e i'isks
The trustees liave a i'isk nianagement slralegy which comprises a regular review of the risks tlie Conipany nydy
face, the establishment of systems and processes designed to mitiga¢e those risks and the iinplemenlation of
pi'ocedures intended lo minimise the inipact oft the Con)pany should those illsks niatei'ialise. This i'isk sliatesy is
reviewed on a quai'lerly basis al board level.
Tlie latest i'eview higiili8hted..
a) LA)ss uf funding, reccssion and i'educed eamed income - miligated by protecting ￿serveS where possible,
focus fundt7ising oil core costs. operate project budgets at fu51 cost recovery. niaintsin affoidability options foi.
those facing socio-economic disadvantage.
b) The buildit)g Still has some areas which al'e high iisk - such as collapsed dr8ins ddiiip ingius causing
damage lo walls aiid floors, and occasioijal power outa8es, bul these risks are mitigated by close liaison with
Coi'poi'ale Property and having an MCC Exec on the board of truslees,
StAlement of trustees, J'espoll8Abilltles
The trustees (wlio 8re a150 the directors of Zion Arts Celltrc Limited for the putpoges of coinpany law) are
responsible for preparing Ilie Tiuslee.q' Annual Repoit (Ineoworaling tl)e Dii.eclo￿, Report) and the financial
statemenls in &ccoi'darkee with applicable law and United Kingdotn Accounting Standai'ds (United Kingdom
Generally Accepted Accounting Piacticc), incliiding FRS 102 "Thc Financial Reporting St8ndard applicable
die UK and Republic of Ircland" The repoit and accouiits have been prepared in accoixlance willi the pi'ovisions
in Ibe Companies Act 2006 relating lo small companies.
Pag¢ 9

Zxon Arts Centre Limited
known as LArts
Trustees, Aniiual Repoi't (Incorporating the Dll'ectorsl Report)
Company law requit'es Ilje tiustees to pitpare flnancial statements for cacli financiRI year. Under coinpany law
the trustees inust not approve the financial slatenients unless Il?ey are satisfied that they give a li'ue and fair view
of Ilie statc of affairs of tlie pai'cnt cliarilable eompany and the group and of tlie inconiing i'csouices and
application of L'CSOUif&q, including its inconie and expenditure, of the charitable group for thaL period. In
prepai'ing the8¢ financial statements. the trnslee% are reqiiired to:
sclecl suitable accounting policies and apply Ihen] consistentLy-
observe the methods and pi'inciples in the Cliarities SORP.
n￿ke judgements and cstimates that are reasonable and prudent.
slate wl)ether applicable accounting siandards. coinpi'ising FRS 102 liave been followed, subject to any
n]aterial depat'tuirs disclosed and explain¢d iti the finai)cial slaleinents. and
prepai'e the financial statements on Ihc going concern basis unless it is inappropriate to pi'esunie that tlie
pai'ent charitable company will conlillue in business.
The trustees al'e i'esponsible for keeping proper accounling records that cAn disclose witli i'easonable accuracy at
any tiine tli¢ financial position of Ilie parent cliarilable coii)pany and Ilie group and enable tl)eni lo ¢nsui'e tl)at
Il)e fiiiancial siaieiiiciits coiiiply willi Il)e Coi)Ipanies Act 2006. Tliey al'e 8150 I'esponsible for safeguarding Ilie
assets of the pairnt cliarilablc company and 11)e group and hence (or laking reasonable steps for tlie pi'eveiilion
and detection of Iraud and oilier irregularities.
The tswtee5 are i'esponsible for thc maint￿lanCe and integrity of the corpor8te and fillancial infoiThalion
included on Ilie charitable company's website. L£gislation governing the pirparation and dissemination of
finfincial statenients n18y differ from legislation in othei. jurisdictions.
Dise105uI'e of informatlon to auditor
Eacli trustee lias taken steps dial tliey ought to havc taken as a trustee in order to inake theinselv¢s aware of any
relcvant audit inforniation and to establisli thal Ihe cllarity's auditoi. is awarc of that informaiion. The t￿￿teeS
confiini that there is no relevant information that Ihey know of and of wl)icli il)ey know the auditor is unawaiE,
Tl)e annual i'eporl was appiDved by the tntstees of the chaillty on ...
ned oil its bel)alf by:
E O'Neill
CompAny 8c¢r¢tary
A Barkalali
Trustee
Pqge 10

Zion Arts Centre Limited
known as ￿ArtS
Independent AudAtorls Repol't to the Members of Zxon Arts Centre Limited
Opinion
We have audited tlle financial stalemettts of Zion Arts Centre Limited (tlie 'cliarilable parent conipany,) and ils
subsid1￿leS (tbe 'groiip') for the year ended 31 March 2024, whieli coinpi'ise tlie Consolidated Statement of
Financial Activities, Consolidated Balance Sheel, Balance Sheet, co1￿011d&1ed Statenieiit of Cash Flows and
Notes to tlie Finaiicial Slateinenls, including a suinniary of significant accountii)g policies. Tlie financial
reporting fratnewoi'k Iliat lias been applied in ibeir preparation is United Kingdom Accoiinling Slandai'ds,
compi'ising Charities SORP - FRS 102 'Thc Financial Reporiing Stsndai'd applicable in the UK and Republic of
Ireland, and applicable law (United Kingdom GeDeTaUy Aeeepted Accounting Practicc).
In our opillion the financial slaternents..
give a tnie and faii. view of the slatc of the group's and parent charity's affairs a8 at 31 Mai'cli 2024 and of ils
iiiconiing resoui'ces and application of resources, including its in¢orn¢ and expenditsire, for the yeai. then
ended;
have been piDp¢i'ly prepared in accordancc with United Kingdom Generally Accepted Accounting PractLCe'
and
have been prepared in accordance with the requirenients of Ilie Companies Act 2006.
BASIS for oplnlon
We conducted our audit in accordance with Internatiotial Staiidards on Auditing (UK) (ISAS (UK)) and
applicable law. Oui. ￿spOnSIbl11t1eS under those standards are fw'tl)ei- desci'ibed iii Ilie auditor responsibTlilies for
the audit of the financial slalements sectioii of ow report. We independent of the group in accoi'dance with
the ethical requirements that are relevant to our audit of the financial slalenients in the UK, ii)¢luding the FRC'S
Eiliical Slartdai'd, and wo liave fijlfilled our otlier eilii¢al responsibiliiies in accordance witli tliese requireinenls.
We believe tliat Ili¢ Audit evidenee we have obtaii)ed is si1￿]¢1eTht and appropriate to provide a basis foft. oui.
opinion.
CoThcluslon$ i'elatlng to golng eon¢ern
Til auditing the financial slateinents, we have concluded that Ihe trnslees use of the going coiicern b&sis of
a¢counling in Ilie preparation of tlie financi&l stslemenls is appropriate.
Based on Ilie work we have peifornied, we liave not identified any matei'ial unceitainlies rclating to events oi.
conditions that, individi￿llY or ¢vll¢ctively> may cast signific&n¢ doubt on the ￿'0￿p,S ability to continue as
going concein for a pei'iod of at least twelve irK)nths from when th¢ original financial 8tatements wci'c authoi'is
for i&8ue.
Our i'espot)sibilities and tl)e responsibililiGs of d)e trustees with respect to going conc¢rn are desci'ibed in the
relevant Sections of this report.
Otlier liiforiijlltlon
The ts'ustees al'e responsible for the otlier infomi&tion. The other i￿OrMation compiises the i￿onnatIon included
in the onnual report, othei. than the flljancial staternents and our auditol 8 report thereon. Oui. opinion on the
financial statenients docs not covth. the other infomiation and, except to the extent otheiwise explicitly stated ill
Oul. Tepoit we do not express any form of assuronc¢ conclusion theieo
Pagell

Zion Arts Centre Limited
known as LArts
Independent Auditor's Report to the Members of Zion Ai'ts Ceiitre Limited
In connection with our audit of the fillancial slaleinents, our respoi)sibility is to read tlie othei. infoi'llialioii aiid,
in doing so, consider wli¢tl)er Ihe otl)er infomiation is inaterially inconsisten¢ willi Ilie finai)cial s121einents or
Oui. kiiowledge obtained in Ilie audit or otheNise appears to be niaterially misstated. If wc idelitify sucl) lllitlerial
inconsistencies or aPp￿.ent maleiial nllsstslements, we are required ts detemiine wlietlier tliere is a inaterial
niisslalement in tlie financial sthtenienls or a n]aterial misstatement of the otlier inforiiialion, If, based on tlie
woi'k we liave peifoiThed, we concludc that theie is a matcriai misstaleinent of this othei- infoin]alffion, we 2re
requiied to ieport that tact,
We Iiave noil)ing to repoit in Iliis rcgard,
Oplnlon on other matter prescribed by the CompAnles Act 2006
In our opinion, based on tli¢ work undertaken in Ilie course of Ihe audit:
tlie infonnalion given in the and T￿steeS, Annual Report {IncorporAting thc Directors, R¢port) foi. tlie
tinaiicial year for wliicli d)e financial 8l&leiiienls 81r pi'epwEd is Co1￿1Stent witli Ille fin8n¢ial slaleinents. and
the and Ti'ustees, Annual Report (IncoTporaling Ilie Direelors, Report) have been prepared in accordance with
applicable legal requireinents.
MAtters on ivhi¢h we are requlred ta i'eport by excepllon
In the liglit of OUT knowledgc and understanding of the group and the paiEnt charitable company and its
ciivii'oi)meiit obtained in the course of Ilie audi¢ we have not ideiilified maleri81 misstateinents in t1￿ aiid the
Trustees, Annual Report (Iiicorporating the Dilecto￿, Repoit).
We Iiave noiliing to repoil in respecl of the followii)g Inatlers where the Coinpanies Act 2006 reqiiires us to
report to you if, iii our opinion:
adeqL￿te accounting i'ecords have not been kept by the parent charilablc coinpany, or i'etuii)s adequate foi.
our audit have not been received froiii bl'anches not visited by us. or
the parent ¢liaritablc conipany financial statements are not in agffeineiit with tl)e accountiiig recoi'ds and
retuiY)s', oi.
certain disclosuies of trustees remuneration specified by law are not made. or
we liave not received all tlie information and explanatioiis we require for Qui. audit.
Re$ponslbllitles of trustees
AS explained more fully in the Sialement of tswslees, responsibiliti￿ (set out on pages 9 and 10), the trwtees al'e
i'esponslble for Ilie pi'eparation of the financial stateincnis and for being satisfied that tliey give 8 true aiid f811.
view, and for such internal contLoI a.s the trustees deterniine is necessaiy to enible the prepai'ation of financial
Staleinents tliat are free from niatei-ial niisslatement. wl)etEier due to fraud or error.
In prepaiing tbe financial Statements, Ilie tmstees air rcsponsible for assessing the cliarity's ability to continue as
a going coneen), disclosing, &$ applicable, matters irl8tcd to going concan aiid using the going coucern basis of
accoiinting Linlcss the tnistees eithth. ititend to liquidate thc cllatity or to cease operations. or have no realistic
Iteinative bul to do so.
Page 12

Zion Arts Centre Limited
known as &Arts
Independent Allditor's Report to the Members of Zion Ai"ts Centi'e Limited
Auditor responsibilities for the audlt of tlie finaiicial stateinents
Oui. objectives are to obtain reasonable ￿Surance alxjul wlieiher tlie financial sta¢en)ents as a wliole are free
froin material misslatemenl, wljether due lo fraud or error, and to issue an auditor's i'epoi't that includes Oui.
opinion. Reasonable assurance is a high level of ￿uranc4 but is iiot a guarniitee that an audii conducted in
accoi'dance witli LSAS (UK) will always detect a material tnisstateinent whei) it exists. Misstalcmcnts ean arise
froin fi'aud or error and air considered material if, individually oi. in the aggregate. tliey could reasonably be
expected to influence Ilie e￿nomiC decisions of users taken on Ilie basis of these financial statements.
The extent to wl)ich our procedures Ore Capable of detecting i￿egUla1711eS, including fi'aud is detailed below..
Identify and assess the risks of material misslalement of the financial statenients, wlietliei. due lo fraud oi.
eiTor, design and pei'fonn audit procedures responsive ￿ tliose risks, and obtain audil evidence tliat is
sufficient and aypropi'iRte to provide a basis for our opinion. The risk of noL deiecling a malci'ial
niisstatement resulting from fraiid is higher tlian for one resulting froni crror, as fi'aud may involve collusion,
fOrg￿y* intentional omissions. misrepresenl8tions, or the ovenide of intern81 control.
Obtain an iiiiderstanding of intemal control relevant to tile audit in order lo design audit pYo¢edui'es tlial are
appropi'iate in Ilie cii'cum8lanC￿, but not for tl)e purpose of expressing an Opillion on tlie effe¢liveness of tlie
internal control.
Evaluate the appi'opiiateness of accounting policies used and the reasonableness of accounting estimates and
i'elated disclosuit8 niade by the ttvstees,
Conclude on tlie &ppropriateness of the trnslees, ￿Se of the going concern basss of a¢¢ounling and, based on
11)e audit evidei)ce obiaiiied, whetlier a itiaterial uncertainty exists related to eveiits or conditioiis Il)at ii)ay
cast signifi¢anl doubt on the charity's abilily to conlinue as a go&ng concei'n. If we wnclude iliat a in&leri&l
uncci'iainly exis18, we are I'equired lo draw altenlion in our audiloi s reporl lo the related disclosurcs in the
financial staternenls or, if sucl) disclosures are inadequatc, to modify our opinion. Our conclusions al'e based
on Ilie audit evidencc obtained up lo the date of oui. aiiditor's report. However, ￿thi.e cvents ot. conditions
niay eause tlie charity to cease to coiitinue as a going concein.
Evaluate Ilie overall presentation, structhre and content of the financial statenients, includlng the disclosui'es,
and wheilier the fjnancial statements repi'esent tlic underlying ts'ai)sactioiis and events in a iiiaThiiei' tl)at
acliieves fair pr¢8¢ntalion.
We commuiiicate with those charged witl) governance regarding, among other matters, the planned scope and
liming of the audit arAd significant audit findings¥ including any significant deficicncies in inteinal conts'ol tliat
we ideiitify during OUL. audit.
Page 13

Zion Arts Centre Lxmited
known as &Arts
Independent Auditor's Report to the Members of Zion Arts Centre Limited
Use of oui. i'epoi't
This report is made solely to tlke cliaritable parent coinpany's Iruslees, as a body, in accordance willi Cl)&pter 3
of Part 16 of tlie Coimpanies A¢1 2006. Ow- audil wot* lias been undertaken so that we miglit state to the group's
'uslee5 Iliose mattel's we ai'e requii'ed to slate to tliem in an auditoi s i-eport and foi. no oi]iei' PULyose. To tlie
fullest extent pemiitled by law, we do not accepl oi. assume responsibility to anyone olhci. than tlie cliai'itable
pai'ent conipany and its tI￿SteeS as a body, for our audii wojk, for ibis report, oi. foi. tl)e opinions we liave
foiined.
Mark Bixdley BA BTP fcA (Senioi. Statutory Audilor)
For and on behalf of Beever alld Slnjthers, Stalutory Auditoi.
Siiite 9b
The Beehive
Lions Drive
Blackburii
BBI 2QS
Date..
05.11.24
Page 14

Zion Arts Centre Limited
known as &Arts
Consolidated Statement of Financi21 Aetivities for the Year Ended 31 Mai'ch 2024
{Ineluding Consolidated Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Ullrcstrieted
funds
Restrleted
funds
Totgl
2024
Tot#R
2023
InLonie and Endoivmenls from:
Donations and Icgacics
Chai'Élable activities
Investment income
Other income
673.820
365,559
18,085
105,799
227.834
227,431
901,654
592,990
18,085
105,799
638,309
713,318
6,145
87,021
Total An¢ome
1,163,263
455,265
1,618,528
1,444,793
Eypendlture on;
Raising tunds
Charitable activities
(102,852)
1,078,909)
(102,852)
1,415,741)
(80,112)
1,386,500
(336.832
Total expendityre
Net (expenditLireyincome
(1,181,761
(336,832
1.518,593)
{1,466,612
18,498
118,433
99,935
(21,819
Net iiiovenient in fjjnds
(18,498)
118,433
99,935
(21,819)
R¢¢on¢lllatlon of fuiid8
Total fiinds brought foiward
452,459
307,434
759,893
781,712
Total fund8 can'ied forward
21
433 961
425,867
859,828
759 893
All of the ￿0up'S activities derive froin contiiiuing operations duriiig the above two peiiods.
The fi￿d8 breakdown for 2023 is sliown in note 21.
The notes on pages 19 to 37 forni an integral part of these financial staiements.
Page 15

Zion Arts Centre Limited
known as Z-Arts
(Registration number: 4101324)
Consolidated Balance Sheet as at 31 March 2024
2024
2023
Note
Flxed assets
Tangible assets
14
438,062
514,168
Cui'reknt assets
Sto¢ks
Debt015
Cash at bank and in hand
16
17
18
6,776
170,644
417,437
594,857
4,814
78,418
359,936
443,168
Creditors: Amounts falllnE due withln one yeai.
Net CUl'l'Lnt assets
19
173.091
197,443
421,766
245.725
Net Rssets
859.828
759,893
Funds of the group:
Restrlcted Income fllnds
Restricted ￿ndS
425,867
307,434
Uni'csti'ictcd income funds
Designalcd FLinds
General Funds
158,171
275,790
192,732
259,727
Total unreslricled fijnds
433,961
452,459
Total funds
21
859,828
759,893
ancial slateinents on page$ 15 10 37 were approved by the trustees, and aulhorised for i8su¢ on
and signed on Ilieir behalf by:
A Barkatali
Truslcc
The notes on pages 19 to 37 fomi an iniegral part of these fmancial slatements.
Page 16

Zion Arts Centre Limited
known as ￿Arts
(Registi'ation numbei": 4101324)
Balaiice Sheet Yds At 31 mai.ch 2024
2024
2023
Note
ri ixed assets
Tangible assets
Investsnents
14
15
436,952
100
514,121
loo
437,052
514,221
Current assets
Stocks
Debtoi's
Cash at bank and in Ir4nd
l6
17
18
2,881
173,066
405,035
88,992
347,120
436,112
192,050
580,982
Cj'editoi's: Amouiits falling due withfin one yegr
19
159,984)
Net curi'eD¢ %s3ets
420,998
244,062
Net assets
858,050
758,283
Funds of the ch81'1ty:
Restrlcted Income funds
Restricted fvnds
425,867
307,434
Unrestricted Income funds
Designated Funds
Genei'al Funds
158,171
274,012
192,732
258,117
Total unrestri¢led fi]nds
432,183
450,849
Total funds
21
858.050
758,283
These fittai)¢ial slateinents Iiave been prepared in accordance with the special provisions relating to cornpanies
subject lo the sniall coinpanies regime willlin Part 15 of tbe Companies Act 2006.
The
cial slatenienls on pages 15 to 37 were approved by Ihe tnjstees, and Authorised foi issue on
A Barkalali
Tnjslee
The not￿ on pages 19 10 37 forni 3n integ[71 part of these financial stateinents.
Page R7

Zion Ai'ts Centre Limited
known as LArts
Consolidated Statement of Cash Flows for the Year Ended 31 March 2024
2024
2023
Note
Cash flows from opei'#ting activltles
Net niovement ID funds
99,935
(21,820)
Adjustments to eAsh (]oivs from non-eash Items
Depi'eciation
Invesliment income
14
148.079
18,085
75,894
6,145
229,929
47.929
Worldng capltAI adjustments
(Increase)Idecrease in stocks
(Increase)/decrea8e in d¢btor8
Decrease in ci'editors
16
17
19
(1.962)
(92,226)
24,350
1,766
7,686
121669
Net C8sh flows froin opei-ating activitie8
11 L,391
64,288
Cllsh flows froin Invesllng actlvitles
Interest re¢eivablc and similar income
Purchase of tangible fixed a88¢ts
18,085
71,975
6,145
331,148
14
Net Cash flows froin inv¢sling activities
Nel inciYasel(decrca8e) in casli and cash eqiiivalenls
Cash and cash equivalents. at l April
Cash and c&8h equivolenls at 31 March
53,890
325,003
57,501
(389,291)
749,227
359,936
417,437
359,936
All of the cash flows are dei'ived fiDrn continuing operalioiis duyirng the above hvo periods.
Tjie notes on pages 19 to 37 fi)m) an integral part of these flllancial statements.
Page 18

Zion Ai"ts Centre Limited
known as LArts
Notes to tlie Fillancial Statements for tlie Year Ended 31 Marcli 2024
I Cliarlty status
The cliarity is liinited by guarantee, incorporated in England and Wales, and consequently does not have 81iare
capital. Eacli of the trustees is liable to conti-ibule an aiiiount nol exceediiig £1 towards tl)e assets or Ihe charity
in the event of liquidation.
The addtrss of its registered office is..
335 Ststtfoid Road
Flulnie
Maiicl)ester
M15 5ZA
2 Aceountlng policies
Summary of slgiilfleant accoujidng pollefies And key 4e¢ountlng estimgles
Tlie pi'in¢ipal accoiinting policies applied in tiie preparation of iliese fjnancial 8lalements are set oiit below,
Tliese policies have been consislenily applied to 811 the year8 Presented, unless otl)envise stated,
Stlltemont of compliance
Tlie financial slalemenls have been prepared in 8ccoirfance with Accounting and Repoiling by Chai'ities:
Staleniei)l of Recommended Pracli¢e (applicable to charities preparing Iheii. aceounts in accordancc witli the
Financial Reporting Standard applicable in Ilie UK and Republi¢ of Ireland {FRS 102)) (issued in Octobei- 2019)
(Cllai'ities SORP (FRS 102)), tlie Financial Reporting Standai'd applicable in tlie UK and Republic of Ireland
(FRS 102) and the Coiiipanies Act 2006.
Bq$ls of pi'eparAtlon
Zion Arts Centre Limited meets tlie definition of a public benefit entity under FRS 102. Assets aiid liabilities ale
initially recognised at histoillcal cost or transa¢tion value unless othenylse Stated in the relevant accounting
policy notcs.
Basls of con801idAtion
The Stateinenl of Financial Activities {SOFA) and balance sheet consolidate tlie finaiicial statement8 Of the
Cllarity and 118 subsidiary undertaking. The i'esults of the subsidiary are consolidated on a liiie-by-liiie basis.
T]ie Charity has availed itself of Paraeraph 4{1) of Schedule l of tbe Sinall Coinpanies and Groups (A¢¢ounls
and DireGloi's' RepoLt) RcgulatiOn5 2008 and adapted the Companies Act forinats io reflect tlie special natw'e of
the Charity's activities, A scparate Statement of Financial Aclivities and itkcome and expenditure accoiinl. for t]ie
Cliarity has not been presented because the Trust has taken advantage of tbc exemption affoirfed by Section 408
of the Companies Act 2006,
Goiiig concei'n
The tsusle￿ CO￿lde1 that there ore no materi21 uncertainties about the giDup's ability to continue as a going
concei'n nor arty significant areas of wjcertointy that affect the carryAng value of assets held by the group.
Page 19

Zion Arts Centre Limited
known as &Arts
Notes to the Financial Statements for tbe Year Ended 31 March 2024
Signlflcant accouiiting estimates and judgements
In the api)licalion of tlie entity's accouIiting policies the Trustees are required to make judgements, estimates
and assuniptions about Ilie cairyirtg value of assets and liabilities lliat not i'eadily appai'eiit from other souires.
The egliillates and underlying &ssuniplions are based on liisiorical expei'ience and otiier factors that are
considei'ed lo be relcvant. Actual irsults tnay differ from these estimates.
The estim&tcs and undei'lying assumptions are reviewed OD an on-going basis. Revisions to accoimting estiinates
al-e ircognised in the period in which die eslimaie is revised if the revision affccts onty that pthiod or in tlie
period uf the i'evision and future pcriiKls if the i'evision affects the cunTnt And futuiE pei'iods,
In the vicw of the Trnslees no ￿sun]plIOnS ¢on¢erning tlie future or estimation uncertaiiity affecting assets and
liabilities at the balan¢e sheet date are likely to result in a material &djustment to their C￿rying amounts in Ilie
Iiext financial year
Income t)nd ondoiYmei)ts
All incoine is Itcognis¢d once the charity has entiilement to the inconie, it is probable diat the inconie will be
received and the amouiit of tlie in¢ome i'eceivable can be mcasiired reliably.
Doiialioii&' aiid lega¢i¢s
Donalions are recognised wl)en the charity has been notified in writing of both Ihe amount and settlcinent date.
In Ilie ev¢nl tliat a donation is subject to conditioi)s IhAI require a level of perforniance by t]ie cl)ai'ily before Ilie
cl)ai'ily is entitled to the funds, tlie income is defeiTed and not reeognised unlil eitliei. Il)os¢ conditions al'e fully
niet, oi. the fLilfilinent of thosc conditions is wholly within the control of the chai'ily and it is piobable Iliat thesc
conditions will be fulfilled in the reporttng period.
Gr4iils receivnble
Gi'ants al'e rewgnised when tlie ￿￿)up has an entitlement to the funds and any conditions linked to tlie gi'aii
l)ave been met. Wlieie performance eonditions are attaclicd to tlie gi'ant and are yet to be inel, Ihe income is
i'ecogni8ed as a liability and included on the balan¢¢ sh¢et as defeiird incoine to be A'eleased.
Iiives'fniEiiI incoiiie
Dividends are ircognised once tbe dividend lias been declared and notification Iw been received of the dividend
due.
Exptndltui'e
All expendilurc is reCo￿lSed oiice there is a Icgal or Collstruclivc obligation io that expeiiditui'e, il is pi'obablc
settlement is i'equired and the aniount cali be nieasured reliably. All costs are alloc&t¢d to the applicable
expenditure heading that aggregate Simil￿ costs lo that calegoiy. Whei'e costs cannot be diiectly attributed to
paiticular headings they have been allocated on a basis consistent with the use of resources, with central staff
costs gllocalcd on the basis of tiiiie spent, and depitciation charges allocated on the portion of Ilie asset's us¢.
Otliei. support costs are allocated based on the spread of staff costs.
Ralsiiigfuitds
These al'e costs incutted in attracting voluntary iiicome, the managemeni of investments those Incurred in
trading aclivilies that raise funds.
Page 20

Zion Ai"ts Centre Limited
known as &Arts
Notes to the Financial Statements for the Ye21" Ended 31 March 2024
Cliai'iliible aclivirfxes
Charitable expenditui'e coniprises those costs incuTred by ihe charity in tl)c delivery of activities and SCL'vices
roi. ils bencficialies. It includeg both costs that can bc allocated directly to such activities and those costs of an
indii'ect nattii'e neeessaiy to suppoi't tlien).
Suppoitt eosts
Suppoi'l ¢osls include central functions and have been allocaled to activity cost cat¢gories on a basis consisteiil
willi Ilie use of resources, for exainple, allocatRThg property costs by floor areas, or per capita, staff costs by tbe
tinie spent and ot]ier costs by their usage.
Taxatlon
Tlie chai'ity is consid￿ed lo pass tlie lests set out in Parngi'aph I Scliedule 6 of the Finan¢¢ Act 2010 and
th¢irfotE it meets thc defiDltion of a charitable company for UK corpoi'alion 18x purposes. Accordingly¥ tbe
cliarity IS Potcntially exeiiipt froni taxation in respcct of inconie or capital gains received within c8tcgoi'ie8
covered by Clwpler 3 Pal't I l of Ilie Corporation Tax Act 2010 oi. Section 256 of Ilie Taxatioii of Chargeable
Gains Act 1992, to the ext￿lt that such iiicome or gains ale applied exclusively lo cl1#i'itabl¢ puiyoses.
Tangible flxed assets
All fixed assets are initally Tecorded al cost. Any fixed assets wsting less than £500,00 are not capitalised but
wi'ilten off lo revenue in the year of acquisition.
Depi'etlation Olld Amoi'lis#tlon
Depi'ecialion is piDvided on tangible fixed assets so as to write off tlie cthst oi. valuation, less any cstimated
Lesidual Vf41uc, ovei. Ihe&r expccted use￿1 economic life as follows,,
Asset Llgss
Major capital itiipi'ovemenls and Iliealre seals
Cornputer equipment and escupe l'oon)
All other fixed assets
Depi'ecialion niethod and vate
100/0-25 % straigl)I line
33 /• straiglit line
250/0 Straigtst line
Stock
Stock is valued at the lower of eosl and estimated selling price I￿S costs to Complete and sell, aftei- due regai'd
foi. obsolete aiid slow moving stocks. Cost is deteimiined usiijg tlie firsl-in, f113t-OUt (FIFO).
Ti'ade debtors
Trade d¢btor8 are amounts duc from customers for merchandise sold or Services peifonned in tl)e oi'dinary
coiirse of business.
Trade debtors 8rc i'eeognised initially at the transaction price. They are subsequently measured at amoi'lised cost
using the effective tlllerest melhod, less provision for impairmellt. A provisioii for tlie impaiinient of li-ade
debtois is established wheii there is objective evidence that the Ch￿.itY will not be able lo collect all amounts due
accordiJ]g to the original ternis of tlie i'eceivables.
Page 21

Zion Arts Centre Limited
known as LArts
Notes to the Financial Statements for the Year Ended 31 Mydrch 2024
Cash and cash equivaleiits
Cash and c&qli ¢quivaleIits comprise cash on hand and call deposits, and other short-term liiglily liquid
inveslii)eLILs tliat are readily eoiivertible lo a known amount of casb aiid are subject to an insignificant i'isk of
chdnge in value.
Trade ci'editoi's
Trade ci'editors are obliglltions to pay for goods oi. s¢Nices tliat have been acquired in tb¢ ordinary coiirse of
biisincss tiom suppliers. AcwuThts payable are classified as cun'ent liabilities jf thc cliarity does not have an
uncoIiditional light, al the end of the reporting period. to defer settlemeiit of dic creditoi- for al least twelve
niond)s after Ibe repoiiing date. If there is an unconditional right to defer Settl￿11¢nt for at least twelve illoiitlis
after the repoi'ling date, tliey are pres¢nied as non-G￿.[ent liabilities.
Trade credit013 are recognised initially at tlie Iransaclioii pi'ice and subsequently measui'ed al ainoitised cost
using the effective interest nielliod.
Fund $ti'uctui'e
Uni'estt'icled income ￿ndS are general funds that ar¢ availablc for use at the trustecs discretion in fuithei'ance of
the objectives of tlie gioiip.
Designated fijnds are fimds which have been allo¢ated or designated for spe¢ifJc pujposes by the company out
of the unrestricted funds.
The cliai'ily has a number of reslricted fun(ts to account for in sithations where a donor requiits tI￿t a grant or
donation must bc spent on a parti¢ular pU￿oSe.
Flnanclal instrunientS
Classijic'alioii
Financial assets and financial liabilities are recognised when Ilie group bec01n￿ a party lo the contractual
pj'ovisions ofihe instruinent.
Financial liabilities and equity instrumenis are classified according ￿ the substanee of tl)e conttBctual
arrangeinents entered into. An equity instrument IS 8ny contract Uiat evidences a residual interest in tlie asset8 of
the gi'oup after dediicting all of its liabilities.
Recogitilioii aiid iiieasiirtiiieiit
A financial asset OT a financial liability is recognised only when the cliarily b￿OlneS a pai'ty lo tlic conti'actual
provisions of thc instruinent.
Basic tinancial instrumellts are Initially T￿OgnIsed at the amount receivable or payable including any i'elated
?nsaction costs.
Cw'rent assets and cuirent liabilities ore subsequently nie&Su￿d at the cash or othei. conskderation expected to be
paid or re¢eived and Thol discounted.
Debt instruments al'e subs4uently measured at amortised cost.
Page 22

Zion Arts Centre Linjited
knoivn as LArts
Notes to the Financial Statements for the Year Ended 31 Mareh 2024
3 Income from donations alld legacies
Unreslrlcted
funds
Genei'al
Restricted
fuiids
Total
2024
Donations and legacies-
Monetary donation8
Donation fj'om Trading Subsidiary
Grants, includiiig capital gi'ants.
Manchester City Council
Gj'ealer M&ncliestei' Colnbincd Auihority
Aits Council
l9,754
13,000
19,754
13,000
184.488
54,725
401.853
184,488
54,725
629,687
227,834
227 834
673.820
901,654
Uni'esti'ieted
funds
General
Resti'lcled
funds
Total
2023
Donations and legacies;
Monelaiy doi)alions
Donalion fi'om Tradin8 Subsidiaiy
Granls, including capital grants,.
Manchcster City Council
Gi'eater Manchester Coinbined Authority
Aits Council
12,630
4,200
12,630
4,200
184,488
49,750
259,692
A84,488
49,750
387241
127 549
510,760
127 549
638,309
4 Incojiie from cliaiitable Actlvitles
Unrestt.leted
fund$
Ceneral
Restrlcted
funds
Total
2024
Venue hire, shared BO and gallery
Project gi'ants
Rents receivdble
217,399
62,995
85,165
217,399
290,426
85,165
227.431
365,559
227,431
592,990
Page 23

Zion Arts Centre Limited
known as LArts
Notes to the Financi21 Statements for the Year Li nded 31 March 2024
Unrestricted
funds
Geneyal
Restricted
funds
Total
2023
Venue IIiiE, sliared BO and gallery
Project grants
Rents receivable
222,066
75,450
81,313
222,066
409,939
81,313
334,489
378,829
334,489
713 318
5 Investinent liieome
Unrestiieted
funds
General
Total
2024
Total
Interest receivable and siiiiilar income.
Baiik inlei'est receivable
18,085
6 Other Income
Uni'estrlcted
funds
General
Total
2024
Income frojn li'ading subsid1￿Y
105,799
105,799
Uni'estricted
(uiids
GeiierAI
TotAI
2023
Incoine froni Irttding subsidiai'y
Covid insuraiice claii
Consultancy
80,217
3,500
3,304
80,217
3,500
3,304
87,021
87.021
Page 24

Zion Arts Celltre Limited
known as &Arts
Notes to the Finaiicial Statements for tbe Year Ended 31 March 2024
7 Expendltui'e on i'afislng funds
R) Costs of ti'ading gctivities
Unrestrleted
funds
Genei'*l
Total
2024
Total
2023
Ti'8ding subsidiary costs
102,852
102,852
80,112
80,112
102.852
102 852
8 Expeiiditure on ehai'ltAble actlvltles
Unresti'icted
funds
Ceiieral
ResÉrlcted
funds
Total
2024
Staff costs
A¢livities costs
Oilicr direct cost,8
Proinotional costs
Trainii)g, i'ccruilment, travel and inotor
Professional fe¢s
Bank cliarges and subscriptions
Piopeity costs
D¢pr¢ci&lion
Allocatcd support costs
531,940
253,677
7,106
34,686
10,771
7,156
7,485
169,072
41,705
15,311
1,078,909
80,996
115,378
336
612,936
369,055
7,442
34,686
11,562
7,156
7,485
201,158
147,950
16,311
791
32,086
106,245
1,000
336,832
1,415,741
Page 25

Zion Arts Centre Limited
knoivn as Z-Arts
Notes to the Financial Statements for the Yeai. Ended 31 Marcli 2024
Unrestricted
fuiids
General
Restricted
funds
Total
2(b23
Activities costs
Other diTecl costs
Promotional costs
Trainiiig, i'eciuitinent, travel and motor
Professional fees
Bank Gliw'gcs and subscription8
Pi'opeity costs
Depi'ecialion
Staff costs
Allocated support costs
196.466
11,104
36,709
7,303
8,362
8.178
160,764
35,375
488,530
12,759
147,253
4,466
13,278
833
343,719
15,570
49,987
8,136
8,362
8,178
230.946
75,656
632,187
13,759
1,386,500
70,182
40,281
143,657
1,000
965,550
420.950
Acttvlty
undei'taken
dii'ectly
Aclivity
suppoi't costs
2024
Charitable aclivitic8
1,399 430
Aclivlty
underl4ken
dlrectly
16,311
1,415,741
Actlvi(y
suppoi-t eosts
2023
ch￿ilable activities
,372,741
13,759
1,386,500
9 Net inconilngl(outgoing) resources
Net incomingl(outgoing) resources for the Yc￿. include,
2024
2023
Operating Lease reiitals
Depi'eciation of fixed assets
45,843
148,079
45,790
75,894
10 Trustees veinuneratlon and expenses
No trustees, noi any persons conllected with them. have received any munei?tion finm die group dut'ing tlie
yefti..
No trLTSte¢s have received any reimbui%ed expenses or any other benefits fro￿ the cliarity dui'ing tlie year,
Page 26

Zion Arts Centre Limited
Iinown as Z-Ai*s
Notes to the Fillanci21 Statements for tlie Year Ended 31 March 2024
ii staff costs
The aggregate payloll costs were as follows:
2024
2023
Staff costs durlng the yeRI' Ivere:
Wages and salai'ics
Social security costs
Pension costs
631,904
49.440
10,582
643,275
51,174
10,933
691,926
705,382
Tiic averaEe liead count of petsons (including senior manageinent I lead¢rshTp teaiii) eiiiployed by the group
dui'iiig the year was 48 (2023: 45) Tlie avei'age nuinber, expressed as full liine equivaleiits, was as follows.,
2014
2023
Opei'ational staff
Creative slaty
Manageiiient staff
Adniinistration slaff
io
23
25
No eniployee received emoluments of more than £60,000 during the year,
Key managenient personnel are The Cliief Executive, Head of Finance and operatio1￿, Head of Preii)ises and
Teclinical, Head of Pi'ogramniing and Head of Crealive Developinent. The lolal employee benefits of Ilie key
managenient personnel of the group were £236,974 (2023 - £226,354).
12 Audltors, reillunei'atlon
2024
2023
Fees payable to the exterjial audltors
Tl)e audilitig of tlie financial statenients
Preparation of financial slalemenLs
8,000
7,625
2,065
9,690
10,100
Page 27

Zion Ai"ts Centre Limited
knoivn as Z-Arts
Notes to the Financial Statements for the Year Ended 31 March 2024
13 T#xatioD
Tlie gi'oup is a registered ¢liai'ity. The income gains of the charity are exeiiipl froLn taxation lo the extent tliat
they al'e applied to Its charilable objectives.
14 Taiigible fixed assets
Gi'oup
Stgtlc &
Portgble
TheAtrÈ
Flxtures
PIAnt &
Equlpment Impi'ovements & Fittliigs MAehRiiei'y Total
Stun
Studio
Cost
Ai l April 2023
Additions
227,866
222,656
3,748
443,824
60,922
4,020
,245
114,938 1,013,304
6,060
71,975
At 31 Marcli 2024
227 866
226,404
504,746
5,265
120.998 1,085,279
Depreciatioii
Al l April 2023
ChaT8e for (lie year
211,465
16,401
209,766
10,830
46,851
104,187
3,973
182
27,083
16,479
499,138
148,079
At 11 March 2024
227,866
220,596
151.038
4,155
43,562
647 217
Nel booli value
At 31 Marcli 2024
5,808
353,708
77,436
438,062
At 31 March 2023
16,401
12,890
396,973
47
87.855
514,l66
Page 28

Zion Arts Centre Limited
known as &Arts
Notes to tlie Financial Statenlents for the Year Ei nded 31 mai.ch 2024
Charity
St&tic &
Poi'table
quipment
Theati'e
Jmprovements
Plant &
Machillery
Stun sthdio
Total
Cost
At l Apiil 2023
Additions
443,824
60,922
114,938
6,060
227.866
222,656
3,748
1,009,284
70,7JO
At 31 Marcli 2024
504,746
120,998
227,866
226,404
1,080,014
Deprec14tiJn
At l Api'il 2023
Charge foi. th¢ year
46,851
104,187
27,083
16,479
211.465
16,401
209,766
495,165
147,897
At 31 Marcli 2024
151,038
43,562
227,866
220,596
643,062
Net book value
At 31 Maich 2024
353,708
77,436
436,952
At 31 Marcli 2023
396 973
16,401
514,119
Is rts¢d Rsset Investments
Charity
SlIAI'os fln 81'oiip undertAklngs and pArtlclpAtlng Interests
Subsidi41y
undei'taklng5
Cost
At l April 2023
loo
loo
At 31 March 2024
loo
100
Net book value
At 31 Marcli 2024
100
loo
A¢ 31 March 2023
100
100
Tlie investment i'eprcsenls l OOYO of ihe Ordinary Share Capitsl of l 00 sliaiu of £1 each of Z-Arts Trading
Limited. Z-Arts Ti'ading Limited is a wbolly owned 8ubsidiary of Zion ￿'1S Centre Limited. Thtt siibsidiaiy
company is inCO￿orated in England and Wales. The principal activities during the yeai. werc tl)¢ operation of a
cafe bar,
Page 29

Zion Arts Centre Liniited
known as LArts
Notes to the Financial Statements for the Year Ended 31 MaA"cb 2024
16 Stock
Group
Cliatt'ity
2024
2023
2024
2013
Stocks
6,776
4,814
2,881
17 Debtors
Group
ChArity
2024
2023
2024
2023
Trade debloi
Due fi'om ￿0Up Und￿taki1]SS
Otliei. debtors
101,035
53,680
101 131
4,806
67,129
53,680
10,574
24,738
69,609
24,738
170644
78,418
173,066
88,992
18 Cash and cash equlvalents
Gi'oup
Chg1'Sty
2024
2013
2024
2023
Cash at bantc and in liaftd
Shoj'l-tei'm deposi18
88,465
328,972
417,437
53,112
306,824
76,063
328,972
40,296
306,824
359,936
405,035
347.120
Page30

Zion Arts Cenh'e Limited
knojvn as Z-Arts
Notes to the Financial Statements for the Year Ended 31 mai.ch 2024
19 Ciedltors: umounts falling due within one yenr
Gii)up
Cliai'ity
2024
2023
2024
2023
Trade creditors
Due to group undertakings
Trllding subsidiaiy corporation
payable
Olliei. taxation atid social secwity
Ollier creditoi's
ACC￿alS
37,991
38,879
35,923
37,519
(289)
18,640
6,608
110,141
(225)
7,507
2,271
149,011
13,920
5,515
110,141
159,984
149,011
173,091
197.443
192,050
Deferi'ed Ineonie
2024
2023
DefetTed income at l April 2023
Resourees deferred in the pcriod
Ainounts rclcased fi'om previous periods
Defei'red incoine at year end
70,125
(75,429)
71,296
157,891
(121,110)
33,344
65,992
20 Obllgatloiis under leases
OperAtlllg lease eommltments
Total fiJ￿1.e minimum lease paynjents under non-cancellable operating le&8es are as follow..
Gj'oup
2024
2023
othei.
Within one year
Between Olle and five years
632
843
632
632
1,475
Page31

Zion Arts Centre Limited
known as LAI'ts
Notes to the Financigdl Statements for the Year Ended 31 March 2024
21 Funds
Gi'(bup
Balance at I
April 2023
Ineomillg
resoui'ccs
Resources
expended
BAlance llt 31
mai.cb 2024
Uni'esti'leted funds
Geiieral
General
259,727
1,163,263
(1,147,200)
275,790
J)esigiiftted
Majoi. capital depreciation
reseive
192,732
34,561
158,171
Total unresti'lcted funds
452,459
1,163,263
A,181,761
433,96 I
Restrlcted fulld8
ACE Capital
Cargill
Ci'eativc Scotland 4 nalioiis
project
Children In Need
D'oyly Cal'le
ERF Danish Cities
Esme Fairburn
Faiiiily Arts Network
Foyle Capilal
Garfield Weston
GL'ouiid Woi'ks Tesco Cominunity
Fund
Granada Fnllndation
14atmony Horizons
Intenialional Womens NIF
Jolin Tliaw
Longsigl)l Fainily Hub
MCC MADE Fund
MCEP Manchestei. Venues
Recovery
NatioIial Lottery Reach
Paiil 14amly
Stul) Capital
UK Theatres Trust
Torevell Pai'Lners
102,940
227,834
12,000
(97,799)
{I,000)
232,975
i 1,000
1,020
(1,020)
14,730
14,730
3,000
13,628
3,0(M)
5,979
40,000
(3,000)
{10,579)
(3,000)
(7,872)
3,049
6,825
4,932
40,000
20,000
(20,000)
996
3,000
19,990
462
(996)
(3,000)
19,990
(462)
(900)
(400)
(35,734)
900
9,809
10,000
9,409
2,866
28,600
47,189
25,320
25.000
77,300
(32.238)
{24,188)
{72,125)
{20,140)
40,271
812
39,645
34,470
20.I40
1,635
4,600
1,635
4,553
2,000
(2,047)
Page 32

Zion Arts Centre Limited
known as Z-Arts
Notes to the Financial Statements for the Year Ended 31 Mai'ch 2024
B#l2nee at I
April 21)23
Incoming
i'esources
Resources
expended
Balanee at 31
mai.ch 2024
Youth Music
332
332
Total resti'ieted funds
307,433
455,266
336,832
425,867
Total funds
759,892
1,618,529
1.518,593
859,828
Balonee at
31 Marcli
2023
BAl#Jice at I
Api'il 2022
Resouree$
expended
resources
TrAnsfei's
Uni'estricted funds
Geiieyftl
Geijei'al
300.568
982,755
(1,019,225)
(4,371)
259,727
Deslgitftleil
Fainily fiiendly escape room
Majoi. capital depreciation
reseive
20,000
(20,000)
194.799
{26,438
24,371
192,732
214,799
(26,438
4,371
192,732
Total uni'estrlcted funds
515,367
982,755
1,045,663
452 459
RListrieted funds
ACE Artist development
57,059
11,715
127,549
(68.774)
(24,609)
(1,600)
ACE Capital
BJMM
Creative Scotland 4 nations
pi'ojecl
Curious Minds MCEP
D'oyly Cai'te
ERF DanislL Citics
Esme Fairbui'n
Faiiiily Arts Network
Foyle Capitsl
Gi'ound Works Tesco
Community Fund
HAF Mcr Active
Harold Hyam Wingate fund
John Thaw
Levi's Music Project
MCC MADE Fund
MCC Hiwtai
102,940
3,943
4,800
3,500
26,828
{2,923)
(14,800)
{3,500)
(15.700)
(12,000)
(2,273)
,020
i0,L￿o
3,000
2,500
15,000
5,904
40.000
3,000
13,628
3,000
5,979
40,000
2,348
500
(500)
(20,962)
(2,770)
(100)
(51,447)
(36,400)
{2,170)
4,452
2,770
16,510
1,000
29,413
65.000
2,170
900
22,034
28,600
Page 33

Zion Ai'ts Celltre Limited
known as LArts
Notes to the Financial Statements for the Year Ei nded 31 March 2024
Balance at
31 M41'ch
2023
Balance at I
April 2022
Ineoming
resourees
Resoui'ces
expeiided
Traiisfers
11,946
(11,946)
MCEP Mancliester Venue5
R¢covci-y
Mind tlie gap acce8S
MCC Play day
One McT- Faniily Jam
One Mcr- TigeT School
Paiil Hanilyn
Stuii Capital
UK Thcalres Trust
Uni Aberstywyth Placement
Torev¢ll PathieiB
Thi'ive (Young Manchester)
Youth Music
Winter Festival
49,708
500
(2,519)
(500)
(2.000)
(1,950)
(2,999)
(80,530)
(28,786)
47,189
2,000
1,950
2,999
115,000
34,470
20,140
1,635
48,926
,635
1,139
5,000
(1,139)
{400)
(I I,233)
(11,717)
4,600
11,233
9,213
2,836
332
TotAI I'esti'lcted funds
266,344
460,038
418,949
307,433
Total funds
781.711
1,442,793
,464,612
759,892
Fund Restrletions
ACE Capital Capital grant to upgi'ade theatre ligbting, improve digitsl infi'astnicture and to build a new
cliildi'ei)s libi'ary
Cai'gill- Gi'ant to facilitate bright sparks after school programine and to iinprove ¢at¢tin¥ facilities.
Children in Need - Gi'ant to eiiable Z-access fun days and &cce&q facilitation in classes.
Creative Scotlatld 4 nations project- Fund to support digital perfoiman¢e research
D'oyly Carte - Gi'ant to 8UPPOrt Ille delivery of Z-arts Young PerfomieiB participatory arts activities.
EPS Danish Cities - Gi7nt to facilitate cultural cxchaiige between Manchesler and Dcnmark
Bsme Fall'biirn - Grnnt f￿. tl]e development oe'knticlioke bearts" xnd a ¢ontribution to tlie childrens libraiy.
Family Arts Nctwoik - Giwit to facilitate tIK of a network of family arts organisations.
Foyle Capital - Capital grant to upgrade theatre lighiing to digital and build a new chilth'ens libiwy
Gaifield Weston- Grant towards Z-arts coir cost and to assist with increased utility costs.
Granada Foundation - Gianl to support Big imaEinalions festival.
Page 34

Zion Ai'ts Centre Limited
known as LArts
Notes to the Financial Statements for tIAe Year Ended 31 March 2024
QiY)und Works- Grant to f&¢ilitate environmenlal th￿￿ed worksbops
HAF Mci. Active - To provide Holiday activities to Manch￿ter School children
FIarmony Horizons - Grant lo enable provision of early years n]￿lC Pro￿￿mMe.
John Thaw - Contribution towards little itads sessions in the library
Longsiglit Conllnunity Hub- Grant to support satellite afterschool clubs
MCC Made fijnd - Gran¢ to facilitate projects will)in MADE Manch￿terS cultural and education paitnei'ship
Maiichester LIt￿.ature Festival - Grant lo support scllools perfomiances of I believe in UnicJ)ms
MCEP Mancliestei. Veiiiics Recovery - Mancliesier venues contributions lo fund MADE i￿8nCheSte1'S cultural
aiid education partnership
NIF Wintei. Lights - Gi'ant to 8iipport festivc lights switch on event
MCC MADE Fund - MCC contribution towards the MADE project
MCC Nif Hiwtai - Neighboui'liood investment grant towards Ilulme is where the Arts 16 sumnieifestival
MCC Nif Inteinational Wonien's Day - Grant to pi'ovide worksliops and activities to cel¢brat¢ inl¢i'national
woinen's day.
National Lotteries Reacliing Communilies - Granl to support tlie Briglitsparks cliilditns after school project
Paul Hamlyn - 3-yeai' ￿'arnt for Teni and the Time machine schools Project
Stui) Capital - To i'edevelop the Studio iiito a fijlly equipped theatre studio aiid rcfui'bisli the associated offi¢¢s
Torevell Partners - GLWlt to suppoit the childrens librAry
UK Tlieatr¢8 trus¢- To provide access and enviromncntal improveinents.
Youth and Play- Grant to suptK)rt tlle BrAg])tsparks ehildrens after school project
Youth Music Grant to facilitate young people niusic project.
Page35

Zion Arts Cellti'e Limited
knoTrvn as LArts
Notes to the Financial Statejnents for the Year Lnded 31 Mai'ch 2024
22 AnAlysi$ of net *$sets behvcen fullds
Group
Unrestricted
funds
Genei'al
Total funds at
31 March
2024
Restricted
f￿lldS
Tangible fixed assets
Curi'ent a58ets
2,219
431,742
435,843
9,977
438,062
421,765
Total n¢t assets
433,961
425,866
859,827
Unresli'icted
funds
Gelleral
Total funds at
Re.sti'icted
funds
2023
Tangible fixed assets
Current a&8ets
351,083
101,374
163,080
144,354
514,163
245,728
Total net asscls
452,457
307,434
759,891
23 Analysls of chAnges in Net Debt
Gi'oup
At l Apiil
2023
At 31 March
2024
CAsh floiv
Cash at bank and in hand
Slioi't-tenn deposits
53,114
306,824
35,351
22,148
88,465
328,972
Net debt
359,938
At l Api%1
2022
417,437
At 31 M#r¢h
2023
Caslifloiv
Cash at bank and in harAd
short-t￿li7 deposits
155,419
593,808
{102,305)
286,984)
389 289
53,114
306,824
Net debt
749,227
359,938
Page 36

Zion Arts Centre Limited
knoTrvn as &Arts
Notes to the Financial Statements for the Yeai. Ended 31 mai.cli 2024
24 Rclattd pai'ty transactions
Tlie cliai'ity has a close working relationsliip wilh Maiicliester City Council= this body noininates directoi's (see
trustee8 annual i'eport) and provides fundiIig to enable Ilie cliai'ily to cany out its charitable objectives. Income
totalling £214,378 (2023., £278,007) has been received during Ihc year. Expellditure lotalling £47,905 (2023..
£52,307) lias beei) incun'ed with Ille related pai'ty during the Y￿.. Thc balancc outstanding at tlie yeai. end was
£45,972 (2023.. £46.122).
All the above fvndizising was Teceived either as core or grant funding. This incollJ¢ has bccll included in the
financial statements uiider voluntary iiicorne and incoming resources from ehArilable 8Ctivilies. Tlie above
expetiditui'e refl¢¢ts invoi¢ed costs in the year. it has been included in the financial statements undei. charitable
expenditure. rhe ehai'ity I￿￿teeS were not paid or reAmb￿sed expellses dw'ing the yeai. iii Ilieii. capacity as
tiustees. One Irustee was paid £nAI {2023'. £300) for perfoi'mance as a poet. No other cllai'ity t￿stee received any
iiolun)ent or paynienl foi. professional or otlier services. Elizabed) Ransonie As co-cliair of tlie cl)arity and also
a leaclier al Cliorltoii High Scljool. Chorlton Higli hired tlie tliealre at Z-ai'ts foi. afternoon scljools
pttrfoi'mancc for a fee of £780.
Page 37