Charfty rnglstratlon number 1106084 Company reglstratlon number 05215861 (England and Wales) INTOART PROJECTS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 INTOART PROJECTS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Catherine Winn Rosie Cooper Nicola Dewar- Chair Laura Smith Victoria Farrow Felicity Suthertand Ella Roeg Jennifer Orgill Secretary Laura Smith Charity numbèr 1106084 Company numbèr 05215861 Princlpal address Studio 306 Peckham Levels Peckham Town Centre Car Park 95A Rye Lane London SE15 4ST Reglstsrnd offlco Studio 306 Peckham Levels Peckham Town Centre Car Park 95A Rye Lane London SE15 4ST Indepondant axamjner F J Wilde FCCA MBA DChA Wamer Wilde 4 Marigold Drive Bisley Surrey GU24 9SF INTOART PROJECTS CONTENTS Page Trustees, report statement of trustees, responsibilities Independent examinetrs report 10 Stat8m8nt of financial activities Balance sheet 13 Notes to th8 financbal statements 14-23 INTOART PROJECTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Introductlon The trustees present their annual report and accounts for the yaar ended 31st March 2024. The board of trustees are satisfied with the perfompnce of the charity during the year and the position at 31st March 2024 and consider that th8 charty is in a strong position to continu8 its activities during the coming year, and that the charlty's assets are adequate to fulfill Its obllgatlons. The financial stat8ments have been prepared In accordance with the accounting pollci8s set out in note 1 to tha financial statements and comply with the charlvs goveming document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of R6commended practi￿ applicabl& to charities preparing their accounts in accordance with the Financial Reporttng Standard applicable in the UK and Republic of Ireland (FRS 102> (effective 1 January 2019)". Objectlves and Activlties of the Charlty Intoart Projects aims to develop new partnerships between artists. community groups and galleries working with people with learning disabilities to accéss the visual arts through opportunities to make art and shar8 It with audien￿$ through eXhibit￿nS. events and books. Publlc banofft that Is provldéd by tho charlty Intoart creatss opportunities for people with leamin9 disabilities to develop their own visual art practice and increase the visibility and profile of their athork within Gontamporary culture. We aim to reach people with learning disabilities that fa￿ barriers to inclusion in the arts through social, economic and h8alth factors, and with little or no access to art education by providing an environment In whlch the highest level of ambition Is nurtured through leaming. progression and artistic development. The tfustees have paid due regard to the guidan￿ issued by the Charity Commission regarding public beneffit. To achieve our mission, we sèt five strat8gic objectives for 2023124: Strategic Objective 1.. Studio Programming To provlda a resourced artist studio for people with leaming disabilities to develop thelr Indlvldual art practice withln a programme that nurtures experimentstion. progression and innovation. Strategic Objective 2.. Public Programming To develop an ambitious public programme to realis8 new projects, exhibillons, events and publishing, by inlliating and responding to invitations working with extemal collaborators. Strategic Objective 3: Educatton and Engagement To develop opportunities to increase participation and engagement through education projects and public events working Inclusively with people with learnlng dlsablliU8s and the wider communlty. Strateglc Obl8Ctlve 4: Audiences To promote Intoart and individual artists to local, natlonal and intemational audien￿$ and their vlsibility within the public domain and contemporary culture. Strategic Objective 5: Finance To diversify 80urces of income and Invest In staffing capacity. Achievemènts and Perfornianco of tho Charity We successfully delivered our plann8d programme. nurturing growth and responding to exciting opportuniti8s as th8y arose. The organisation has created new opportunities throughout the y8ar for tho increased visibllity and leadership of people with leaming disabilities. working with a dlverse range of new and long standing partn8rships that have extended our reach. INTOART PROJECTS TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Our ethos for equity, rèpresentation and social justice is underpinned by "Nothing about us without us" This promotes active involvement of Disabled people in the planning of strategles and policies that affect their lives and relies on this principle of participation. As an organisation we are committed to ever further increasing the leadership roles and representation of the lived experience of people with leaming disabilities and Autistic people. Not solely In the artmakbng activity but across the whole organisation's declsion maklng, operatlons and ambitions. Throughout the year we have embedded our work around 'artists voi¢8'. Thls includes our reporting across the programme, at board of trustees meetings, throughout Partnership development and when working with funders and commissioners. One such example of an 'artlst voice, Is through these words of an artist talking about barriers and opportunities in the workplace ..pushing through a cmwd of people, making themselves more vi&ble and aiming to be included. This is what the rest of the world needs to do, make spaGe for newer voices and include people th8t dony always get to speak for themselves.. Over the next 3 years, wa aim to further develop our inclusive leadership model to its next level. This wlll involve scoplng th8 SUPPOrt frameworks and rèsources needed to aGhigve this Important area of our organisational development and seeing what shape this takes. Summary of the maln a¢hl•vemènts of the charlty durlng the yèar Intoarvs vislon Is for people with leamlng disabilities to be visible. equal and established artists and designers. Intoarfs programm8 seeks to address Inequalftles of access, partlcipation and leadership by people with leamlng disabilities and autistic people. Through Intoart's practice we alm to challenge the deficit model of disability that stlll persists. Our studio programme supports progression through the six stages of isolation,. low expectation" access; participation. progression. and leadership. The charity also measures success through its engagement with public audiances and our ¢ommitmenl to social justica and r8cognFtion of athièv6ments through tha champloning of the ar￿rk and people. Summary of the Programmo dellvery of the charlty durfng the year: In 2023124 we delivered Intoart's programme across slx areas of core activty: Studio Programme Trifle Design Studlo Artists Dlrect Changè Intoart Collection Ambitious Bodiés programmel Foundation Studio Public Programme Studio Programmo Intoart's studio programme supports young people and adults with leamlng disabi11tigS to leam new art, design and craft skllls and make athork over a core weekly programme five days a week, ranglng from our entry level Foundation programme for those new to the studio Ihrough to our commitment to supporting individual progrèssion roulas, core skills, new mediums and those developing work towards exhibilions, Collaborations, commissions and projects locally, nationally and intemationally. Wrthin the year, the depth and volume of our studio programme benefi¢iarie5 increased. We ar8 rnw working wlth a cor8 numbar of 22 artist benefici8rles with learning disabilities as part of our weekly studlo programm8 offering each beneficlary between 1 to 3 days in the stLKlio per week spanning art, design and craft. The studlo programme was delivered by our core team of studio stsff. freelance creative practitsoners and collaborators. INTOART PROJECTS TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Studlo beneflclary Ilgures We worked hard to offer a 12YD increase in studio activty delivery from the previous year Studio session delivery - 380 cor8 art studio sessions Actual delivery impact (participant artists x sessions) = 2730 Note= 1 day of dellvery of 5.5 hours = 2 sesslons 11 In momlng and 1 in aftemoon. We also grew to take on a third studio space in Peckham Levels in Peckham, Southwark," a London Borough notable for its ethni¢ dlversity and position on the deprivation Sndex In England We continue to work with local Soulh London based artlst beneficiaries from the Boroughs of Lambeth. Southwark. Lewisham. Partnership work is core to our reach to ben8ficiari88. working with voluntary sèctor organisations, FE Colleges & social services to reach people to increasa opportunities for engagement across the three South London boroughs with strong local communty impact & programme of Local, National & Intemational significance. Craft Studlo Programme A new addition in 2023 is a dedicated Craft studio programme supported by our naw partner and funder QEST (Queen Elizabeth Scholarship Trust). Launched in Autumn 2023. we are establishing our textile programme. craft commissions and masterclass88 to create opportunities to work across a diverse range of new craft skills and materials. Artists volce Impact of the studio is captured through the voice of the leamlng disabled artists to infomi our studio programme and led by the artists, lived experiences.. .1 feél with my confid8nce at Intoart has hit an all tim8 high because I come to Intoart to get the job done.. °I've come out of my shell. my spégch and what I said, the film.. "Intoart have helped me realise how muGh of an artlst l am." Working on personal ideas. exploring newplaces. 6scape, escaping the city. recording how I feel.. 2. Design Studlo Triffe Studio is our design studio. Within thé year it continued to grow as an important platfonn for people to d8velop a design practice. Wè continu8d to build our commissions in partneTrhip with local, national and intemational partners. Some highlights indude: A major feature in British Vogue. with Trifle designers photographed for the pages of th8 global reach magazine. The May 2023 issue of British Vogue 'Reframing fashion: dynamic, daring & dlsabled, was championed by contributing editor Sinead Burke. We were shortlisted as finalist for Hublot Design Prizè 2023 (intemational prize for design) Intoart artist Clifton Wright and Design Studio Manager Tom Dorkln traveled to Zurich for the award ceremony and present our work to the judging panel. British knitsvear brand John Smedley commissioned three gamient designs by Llsa Coniucci, Mawuena Kattah and Christian Ovonlen. Th6 hand printed pieces will be developed as a capsule collection launched for London Craft Week. INTOART PROJECTS TRUSTEES. REPORT {CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 We ￿ntinUed to have an important local audience presence at fairs and fastlvals Including Peckham Festival during London Design Festival weekend Crafty Fox Market and PÉxmas. 3. Artlsts Dlrect Change On reachlng its sixth y8ar. the Artists Direct Change (ADC) programm8 has 8volved into its next phase as Artisls Lead Change (ALC) . Our professional d8v8lopm8nt programme aims to address the under-representation, equity of a￿e$S to resources and opportunlties for pèople with leaming disabilities practicing as artlsts In the visual arts sector. ALC programme has introduced naw partnerships to wid8n our reach and wot* towards in future publi¢ outcomes.. Our n8w partnership with Wysing Arts Centre in Cambridgeshire supported three of the artist beneficiaries to undertake a week-long residency working in the rural landscape and taking Ideas back to the Intoart studio. Our first Writer in Residen￿ commenced in August in partnership with Flat Time Hous8, offering a young. emerging writer the support of mentoring; research the work of John Latham; leam through time spent in the Intoart studlo and collection: resulting in a writing commission. We launch8d a new r8flective practice programme 'What fime is Love. delrvered over quarterfy sessions at Peckham located Flat Time House working with 6 artist beneficiarie5 from the Intoart studlo and a leamlng exchange betsveen the two organisations. Our partnership with Dulwich Picture Gallery has been a great source of insplration for artists exploring their painting collection and contemporary exhibitions. Three artists have been working more in depth to make work in response to the collection as we plan towards future ambitions to Creats opportunities for artists. Intoart Collectlon Intoart houses over 5.000 athorks in the 'lntoart Collectton.. A publicly accessible loaning resource for researchers. curators and organisations, the collection is a physical and digital archive of original ariworks made in th8 Intoart studio. This year wè added 365 nèw a￿orkS to th8 collection. We further championed access to a diverse range of materials, scal8 and technlques used by artists In the studio. a8 demonstratsd in the range of works held in the collection. We appointed a Collection Manager in January 2024 in a year-long role to enlisting specialist experience and knowledge and support cons8rNallon whlch Includ8d: Assessing the store of works Scoping the conservation of our t6xtil8 collections Preparing work for loan and studio visit opportunities for curatorslvisitorslartists 5. Foundatlon IAmbltlous Bodles programmo Intoart's aim is for 'An equal platform for young people with leaming disabilities to become artists of the future,. We work wtih young people from 19 years upwards where there is significant need for post school provision and pressure on resources for transition into adulthood. We came into our third year of our thre￿year project funding secured from City Bridge Trust Ambitious Bodies programme aimed across our young people and core studio programme. Our activity within the year 23124 included: Five n8w young adults progressed Into thelr thlrd year of th8 Ambttious Bodies programme weekly studlo practic8 sessions, and progressed into secondary days of the week 8nd broadening opportunities into other areas including design. We submitted a comprehensive report to the main funder Cty Bridge Trust for this programme that documented impact and outcomes. Intoart is an Arts Award supporter. We delivered workshops With Spa School and Park C￿lege 85 part of our Annual exhibition programm8 and supported pe8r18adership. We have ongoing positive relationship5 With local schools, social services transition teams, further education & voluntary sector organisations. proving successful in increasing referrals for young people 18-25yrs to the Studio programme. INTOART PROJECTS TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 6. Publlc Programme of exhlbltlons and events Our major Public Programme highlights and achlevements during the year 2023124 Include: April: 'Group Shovl Aspex Gallery. Portsmouth f8aturing artist Uduehi Imienwanrin - 20th. April to 2nd July May". 'John SmedleY launch of Intoart capsule ccllection of limited edition garments by 3 Intoart artists In store Jermyn Street London fflagship store for London Craft week on 11th May then in store for one month. June: 'Bloom' . York Art Gallery 23rd Jun8 to 8th October group exhibition featuring v￿rkS by five Intoart artists. And an important milestone as our first loan from the Intoart collection of 23 works to a museum. July: 'A Lion in the Studio, Intoart Collection 2023 Exhibition, Copeland Gallery London featuring 22 Intoart artists 28th June to 2nd July ( and online) Our second summer Annual exhibition at Copeland Gallery welcomed ever higher audience to our physical exhibition and introduced artist led tours with partners, schools, colleges and public audiences, and was produced as an online 8xhibition. August: What l am Reading Now Cooperf Gallery online commission by Ntiense En￿ArnooqUaY8 to showcase new writing and new body of work. October: 'New Positions, . Crafts Council Gallery London 4th to 14th Odober group exhibition featurfng works by Christian Ovonlen from the Crafts Council Collection. 'History in The Making, Compton Vemey Warwickshire 21st October to 11th Fèb group exhibition featuring works by Christian Ovonlen. February: 'Coll8ct' Int8mational Craft and Design Fair. Somersat House, London 2024 featuring works by three Intoart artists. We were the winner of 'Outstsnding Display by a Gallery, Dollvgry summary: Partner exhibitions - Target. Minlmum 2 1 Actual: 4 Intoart exhibitions Target 11Actual 2 Events Target: 2 1 Actual: 3 Schools workshops . Target.. 31 Actual: 3 Fairs and markets Target.. 31 Actual: 3 Online exhibitions -Target= 2 1 Actual.. 3 Performance (Live or recorded) of new work Target 11 Actual 3 artist led talks Fllms produc8d - Target: 4 IActual: 4 Publi¢ationlB¢)ok- Target: 4 IActual.' 4 to be launched in 2024 Reach to audlencos 237 exhibition days Physical Exhibition Attendancas in UK Know audience 31,790 Unknown audience 900 Total annual audience 32.690 INTOART PROJECTS TRUSTEES, REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Intoart Website 2023124 figures for unique browsers to our main Intoart website over the year increased over 5330A on previous year as our audience shifted to more people researchlng the organlsation and working more on linking our websile links from social media and Eflyer reach. Main Intoart website figures: Unique browsers 825111 Page impresslons: 498777 Archived arbNorks added to the Intoart webslte.. 365 Fundèrs We were successful in d81iv8rlng th8 first year of our fundlng agr88m8nt wlth Arts Councll England (ACE) National Portfolio Organisation funding which supports 50% of our core funding for the organisatlon for a thre year period 2023- 26. Twst and Foundation funding from Paul Hamlyn Foundation. Lightbulb and City Bridge Trust continued to invest important funding lo support our programme delivery. We are delighted to embark on our new partnership with QEST committing to 3 years of funds to support our new craft studio programme Know-How. We are continuously working hard towards securing investment froffl a growing portfolio of trusts and foundations to meet the needs of sustaining and growing our work. We aim to secure funds based on a dNerse income model of publlc and private income and thank our funding pathers. nefv￿rks. communty and audience for supporting our work. The financlal impllcatlons of the Cost of Llvlng Increases that puts p￿su￿ on overheads. staffing and materfal costs are recognised in our risk ass6ssment for financial planning. W8 addréss our fundraising needs through a div8r$8 pool of income generatlon and succession planning. Intoart - Looking to tho futuro We tskè this opportunity to look ahead to our 25th year in 2025. We are startlng to plan for thls important milestone for the or9anisation over the coming year in 2024 to put in place partnerships and programming that wlll celebrate our journey so far. This year the staff team has grown from 4 Core staff in 2022123 through to 7 in 2023124 and an additional regular roster of freelance speaalists supportlng the programme. This has been a shift in the scale of the operations of the organisation and the many contributions by people that make it what it is today. Chairs Report 2023124 Yet another full year, and whilst the pandemic and it's lockdowns ar8 Starting to feel historic, the impact on Intoart and our arknsts has continued to be very real. The intensity of pastoral care that weaves into Ihe artistic praclice to ensure that the ne8ds of our artists can be fully met 15 immense- drawing upon support and deep experience of staff. This deep focus on safeguarding enables the Intoart artists to continue to flourish. each year reaching new levels of celebration 2023124 seeing a mind-blowing wealth of aGcolades and achievements and many 'firsts' as we break into new areas of Practi￿ and opportunities. This year th8 team hav8 b6gun to venture out into the world with research visits that included V&A, The Exchange in Erith, Dulwich Picture Gallery, Flat rime House and welcomed curators and directors from a wide range of cultural institutions. The growth of the staff tèam is buildlng our c8pacty which is by all accounts making a huge difference to the team. Fundraising has continued to be positive. we successfully delivered our first year of Arts Council England NPO 2023 - 26 funding agreement and engaged existing and new funding partners to invest in our programme into 2024125. The board of trust8es hav8 Introduc8d ways of working. meeting our commitmant to slrong governance alongside new committees that offer access for people to contribute in th8ir spacialisms and diverse exp8rience. This new approach aims to make u5 more efficient and create more space for deeper conversations. We've launched recruitment for two new trustees to conlinually strengthen our expertise and look to have these in place in 2024. All this hard work by the t8am, trustaes, artists and our partners. positions us well to ensure that 2024125 is another successful year ahead Nlcky Dewar, Chair of the Board of Trustees INTOART PROJECTS TRUSTEES. REPORT (CONTINUED){INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 structure• governanco and managoment Intoart Proj8cts is govemed by its Memorandum and Artides of Association and managed by a Board of Trustees. Strategic direction and delivery is managed by the Director and Intoart's programm8 is developed and implem8ntsd by a team of specialist stsff and artists. The methods adoptod for th• r•crultm•nt and appointmont of naw trusteos Intoart works In tha fields of art, education and 18aming disability. Therefore. it strives to adopt a Board of Trustees that can support the charltable aims of the organisatlon working across these fields. The minimum number of trustees for the operation of the board is three, there is no set maximum numbèr. The board identifies the following areas. although not exdusive. to b8 of importanc8 in the skill base of the board: fundraising. policy developmen( safegu8rding adults and young people, education and indusion. communications and marketing. adult learning disability service provision and social care, finants and a¢¢ounting, project management. contemporary art and design. The procedure for recruitment of trustees Identified at quarterly board meeting skills gap in the board Agree action to the recruitment of potential trustee to indude nelworks In the field, porsonal recommèndation, OP6n call out through advertising. Demonstrates interest in the charitsble aims of the organisation Submit CV. assess experience and skills again8t skills gap and needs of the board to support the charitable aims of the organisation. Meeting with Director 8nd Chair of the l)oard Offer of meeting with another trustee Interview and decision to the suitability of the potential trustee to the role Potential trustee to attend a board meeting as observer Meet with chair to follow up Offer to join the board by Chair and Director Reference request and DBS disdosure Attend board meeting- nomlnatlon and seconded by I￿0 members of the board Pollcles on reserves Intoart has a Reserves policy in order to oulline why the charity holds a particular amount of d8signat8d Emergency Reserves. The Trustees seek to build and maintain the levels of its designated Emergency Reserves in line with best practice for a charitable organisation. The recommended designatsd Emergency ReseNe amount Is thr88 months, running cosls of the charity for the forthcoming year. In the case of Intoart, this is calculated to include studio rent, overheads and core staffing. The money in the designatsd Emergency ReseNe may only be used if th6 n86d arises to wind up th8 charfty, or if th8 Trustees d88m an extraordinary circumstance or unforeseen emergency. It may not be spent for any other purpose without the prior agreement of the Trustees. The Charivs Emergenoy Reserve5 demonstrate 8 Commitment to risk management and ar8 important to the stability and viability of the charity. induding its relationships with exisling and potential fund8rs, beneficiaries, and other stakeholders. The18vels of Em8rg6n¢y Res8rv8s are r8view8d by the Trustees on an annual basis. In order to build up the reserves, and to secure additional unrestricted funds for developmenc Intoart seeks to diversify its income streams to include a donor scheme. corporate and private income generation alongside grants through trusts and foundations. The Trustees increased the Emergency Reserves from the sum of £60,000 In 2022123 to £70,000 by March 31st 2024 to r8fl8ci th8 incr8as8d costs of ov8rh8ads, rent and stsffing prolect8d for the forthcoming year 2024125. INTOART PROJECTS TRUSTEES. REPORT (CONTINUED)(INCLUDING DIRECTORS. REPORT) FOR THE YEAR ENDED 31 MARCH 2024 Funds in deficlt The ACE Explorers 2 fund is in d8ficit £(2,750) since the final 10% of the grant can only be daimed after the project is comp18te, so the expenditure has been incurred but not yet reimbursed. All of the trustees are m8mbers of the company and guarantee to contiibute £1 in Ihe event of a winding up. The l)oard of trustees is satisfied that the charitys assets In each fund are available and adequate to fulfill Its obligations in respect of each fund. Transactions and flnan¢lal posttlon The financial statements are set out on pages 10 to 15. The financial statements have been prepared Implementing the 2005 Revision of the Statement of Recommended Practi¢a forA¢¢ounting and Reporttng by Charities issued by the Charity Commission for England and Wales (revised in June 2008) and in accordance th the Flnanclal Reportlng Standard for Smaller Entities (effective April 2008). As stated in the introduction to this report. the trustees consider the financial performance by the charity during the year to havè been satisfadory. The Statement of Financial Activities show n8t incoming r8sourc8s for the year of a revenue nature of £41,763 (prior year deficit £{22.912)). The totsl charity funds stand at £159,108, (prior year £117,345). Share Capltal The company is limited by guarantee and therefore has no share capital. The members of the Board of Tnjstees of the Chartty during the year ended 31 March 2024 were: Catherine Winn Rosie C¢)oper Nicola Dewar- Chair Laura Smith Victoria Farrow Felicity Sutherfand Ella Roeg Jennrfer Orglll Thè trustees, report was approved by the Board of Trustees. Nlcola Dewar- Chalr Trustee 4111 IL4 INTOART PROJECTS STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2024 The trustees. who are also the directors of Intoart Projects for the purpose of cnmpany law, are responslble lor 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 requlres the trustees to prepare flnandal statements for each financlal y8ar whlch glve a true and falr view of the state of affairs of the charlty and of the incoming resoU￿a5 and application of resources, induding the incom8 and expenditure. of the charitabl8 company for that year. In preparing these )Inancial stst8m8nts, the trustees are réquired to: select suitsble accounting policies and then apply th8m consistently: - observe the methods and prin¢iples in the Charities SORP; mak8 judgements and estimates that are reasonable and prudent: state whether appllcable UK Accounting Standards have b8en follow8d, subject to any materfal departures discl¢Jsed and explained in the financial statements" and prepare the financial statements on the going concem basis unless it is inapproprialej to presume that the charity will continue in op8ratEon. The trustees are responsible for ke8plng adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financlal statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. INTOART PROJECTS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF INTOART PROJECTS I report to the trustees on my examination of the financlal statements of Intoart Projects (thé charlty) for the year ended 31 March 2024. Responslbilitles and basls of report As the trustees of the charity (and also its directors for the purposes of company law) you are responsible for the preparation of th8 financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Having satisfied myself that the financial statements of the charlty are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charlty's financial statements carried out under seclion 145 of the Charitiés Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions givèn by the Charity Commission under section 145(5)(b) ofthe 2011 ACL Independent oxamlnerfs statement sin￿ the Charity's gross income exceeded £250,000 your examiner must be a member of a body Ilst8d in sectlon 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Association of Chartered Certified Accountants. which is one of the listed bodies. I have completed my examination. I c£)nfirm that no matters have Come to my attention in connection with the examlnation giving me cause to believe that in any material respect: accounting records were not kept in respect of the ¢harity as required by section 386 of the 2006 Act: or the financial statements do not accord with those re￿rds. or the financial Statements do not comply with th8 accounting requirements of section 396 of the 2006 Act other than any r8quir8ment that the accounts giv8 a tru8 and fair view which is not a matter considered as part of an independent examination- or the financial statements have not been prepared in accordance wlth the methods and principles of the Statement of Recommended Practice for ac￿untIng and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102). I have no conc8ms and have come across no other matters In connection wlth the examlnation to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached. F J Wllde FCCA MBA DChA Wamer Wilde 4 Marigold Drive Bisley Surrey GU24 9SF 10- INTOART PROJECTS STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Current flnanclal year Unrestrlcted Unrestrlctsd funds funds general deslgnated 2024 2024 Restrlcted funds Totsl Totsl 2024 2024 2023 Nots8 Income from: t)onations and legacies Charitsble actrvities 212,379 66.482 149.282 361,661 69,457 267.604 60,386 2.975 Total Income 278,861 2,975 149,282 431.118 327.990 Expendlture on: Charitab18 activitl8S 250.050 6,188 133,117 389,355 350,902 Total expendlture 250,050 6,188 133,117 389,355 350,902 Nat Incomel(oxpendlture) 28,811 (3,213) 16.165 41.763 (22.912) Transfers between funds (33,097) 33,097 Not movement In funds (4,286) 29.884 16,165 41,763 (22.912) Reconclllatlon of funds: Fund balances at 1 April 2023 20.968 75.205 21,172 117.345 140.257 Fund balances at 31 March 2024 18.682 105.089 37,337 159.108 117,345 The statement of financial activities indudes all gains and losses recognised in the year. All incom8 and èxpenditure derive from continuing activities. 11 INTOART PROJECTS STATEMENT OF FINANCIALACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2024 Prior flnanclal year Unrestrlcted Unrestrfcted funds funds general do$19nated 2023 2023 Rostrlcted funds Total 2023 2023 Notes Income from: Donab'ons and legacies Charitable aL*vities 160,539 55,054 107.065 267,604 60,386 5,332 Total In¢ome 215,593 5.332 107,065 327,990 Expendjture on: Charitable activities 200,076 22.861 127,965 350,902 Total expendlture 200,076 22.861 127.965 350,902 Nat InGomg1(oxpendtture) 15,517 (17.529) (20.900) (22,912) Transfèrs between fvnds {16,000) 16,000 Net movement In funds (483) (1.529) (20.900) (22,912) Reconclllatlon of funds: Fund balan¢es at 1 April 2022 21,451 76.734 42.072 140,257 Fund balan¢os at 31 March 2023 20.968 75,205 21,172 117.345 12- INTOART PROJECTS BALANCE SHEET ASAT31 MARCH 2024 2024 2023 Notes Curront assets Stocks Debtors Cash at bank and in hand 12 13 5.994 9,783 159,943 5.871 21.485 116,047 175.720 143.403 Credltor8: amounts falllng duè wlthln on• y￿r 14 (16,612) (26,058) Net current assèts 159.108 117,345 The funds of the charlty Rèstricted income funds Unrestricted funds - general Unrestrlcted fund5- designated 18 20 17 37.337 16,682 105,089 21,172 20,968 75,205 159,108 117,345 The company is anti￿ad to the exemption from the audit requirement contain8d in section 477 of the Companies Act 2006, for the year ended 31 March 2024. The directors acknow18dg8 thelr responsibilities for complylng with the requirements of the Compani8s Act 2006 wlth respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audlt of its financial statements for the year in question in accordance with section 476. These financial statements have been pr8pared In a¢¢ordance with the provisions appllcable to companles subject to the small companies regime. The finandal ststements were approved by the tNstees on . ....................... Nicola Dewar- Chair Trt￿te0 Company r8gistratlon number 05215861 (England and Wales) 13- INTOART PROJECTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles Charlty Inforniatlon Inloart Projects is a prtvate company Ilmit8d by guarantee incorporatsd in England and Wales. The règistered office is Studlo 306 Peckham Levels. Peckham Town Cèntre Car Park, 95A Rye Lane, London. SE15 4ST. 1.1 A¢¢¢>unting conventlon The financial statements have been prepared in accordan￿ with the charitys goveming document, the Companies Act 2006 and 'Accounting and Reporting by Charities: Statement of Recommended Practice appllcable to charities preparing thelr accounts In accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effedive 1 January 2019}". The charity is a Public Bènefit Entity as defined by FRS 102. The charity has taken advantage of th8 provisions in the SORP for charities applysng FRS 102 Update Bulletln 1 not to prepare a Ststement of Cash Flows. The financlal ststements are prepared in sterling, which is the functiona5 currency of the charity. Monetary amounts in these financial ststements are rounded to the nearest £. The financial statements have be8n prepared under th8 historical cost convention, [modified to include the revaluation of freehold properties and to indude investrnent properties and certain financial instruments at falr valuel. The principal accounting policies adopted are set out below. 1.2 Going con¢em At th8 time of approvlng the financial statements, the trustees hav8 a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the tnjstees continue to adopt the going concem basis of accounting in preparing the financlal statem8nts. 1.3 Charltablè funds Unrestricted funds are available for use at the discretion of the trustees in furtheranc8 of th8ir ¢harit8ble obj8cliv8S. Restricted funds are subject to sp8clfic conditions by donors or grantors as to how they may be used. The purposes and uses of the restrioted funds are set out in the notes to the financlal statements. Endowment funds a￿ subject to specific conditions by donors that the capitsl must be maintained by the charity. 1A Ineomo Income is ￿COgnised when the charity is legally enttlled to it after any p8rforrnance conditions have been met. the amounts can be measured reliably. and it is probable that income w￿1 be received. Cash donations ar8 recognised on receipt. Other donations are recognised onc8 tha tharity has been notified of the donation. un18ss perfomiance conditions require d8ferral of the amount. Income tsx recoverabl8 In relation to donation5 received under GiftAid or deeds of covenant Is recognised at the time of the donation. L8ga¢ies are recognlsed on receipt or othepoAse If the charity has been notified of an Impanding distribution, the amount is known, and receipt is expected. If the amount Is not known. the legacy is t￿ated as a contingent asset. Tumov6r is measured at th6 falr value of the conslderation received or receFvabSe and represents amounts receivable for goods and services provided in the normal ￿Urse of business, net of discounts. 14- INTOART PROJECTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accounting pollcles (Contlnued) 1.5 Expendlture A liability is re¢ognised when either a legal or constructive obligatlon is identified. Irrecoverable VAT Is classified in the same way as th8 transaction to which it relates. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at Cost and subsequently measured at cost or valuation, net of depreciation and any impaimient losses. Depreciatlon is recognised so as to write off the Cost or valuation of assets less their resÈdual values over thelr usefvl lives on the following bases: Plant and equipment 5 years straight line The gain or loss arising on the disposal of an asset is detemln8d as the difference be￿een the sale proc8eds and the carying value of the asset. and is recognised in the statement of financial activities. 1.7 Stocks Stocks are stated at the loV￿r of cost and estimated sèlling price less costs to complete and sell. Cost comprises direct materials and. where applicable, direct labour costs and thosè overheads that have been Incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net realisable valu8 is the estimat8d selllng price less all estirnated costs of completion and costs to be incurred in marketlng. selling and dlstrlbution. 1.8 Cash and cash equivalents Cash and cash equivalents indude cash in hand, deposts held at call with banks, Other short-term liquld investments with original maturities of three months or less. and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 1.9 Flnanclal Instruments The tharity has olected to apply the provisii)ns of Section 11 'Basic Financial Instruments, and Seclion 12 'Other Financial Instruments Issues, of FRS 102 to all of its financial instruments. Financial Instruments ar8 recognised in the ¢hariVs balance sheet when th8 charlty becomes party to the contractual provisions of the Instwment. Flnancial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basic financlal assats Basic fin8n¢i81 assets, vlhich include debtors and cash and bank ba18nces, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest melhod unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of th8 future receipls dlscounted at a market rate of interesL Financial assets classified as receivable within one year are not amortised. 15- INTOART PROJECTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles {Continued) Bas1¢ financial Ilabllltlas Basic financial liabilities. induding credttors and bank loans are initially recognised at transaction price unless the arrangement constitutes a flnancing transaction, where the debt instrument is m8asured at the pr6s8nt Value of the fvture payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Debt instruments are subsequèntly carrted at amortised cost, using the eff8Ctive interest rat8 method. Tr8de creditors are obligalions to pay for goods or seNices that have beèn acquired in th8 ordinary course of operations from suppliers. Amounts payab18 are classified as ¢uffent liabilities rf payment is due within one year or less. If not, they are presented as non