Company registration number: 05181856 Charity registration number- 1106088 City Arts (Nottingham) Ltd (A covnpany limited by guarantee) Annual Report and Financial Statements for the Year Ended ) l March 2025 Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL
City Arts (Nottingbam) Ltd Contents Reference and Administrative Details Trustees, Report 2to7 Independent Examiner's Report Statement of Financial Activities 9t0 10 Balance Sheet Notes to the Financial Statements 12to22
City Arts (Nottingbam) Ltd Reference and Administrative Details Truslees Michaela Butter. Chair Andrew Cooper Frances Franks Kevin Love Boseda Olawoye James Parkinson Lawrence Robertson Mary Strickson Michèle Taylor Mell Garside Secrelary Senior Management Team Suzannah Bedford. Director Mell Garside, Finance & Operations Manager Charity Registration Number 1106088 Company Registration Number 05181856 Registered Office I I-IJ Hockley Nottingham NGI IFH Independent Examiner Eva Stevens. employee of Communily Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL Page I
City Arts (Nottingbam) Ltd Trustees, Report The trustees, who are directors for the puryjoses of company law. present the annual report together with the financial statements of the charitable company for the year ended ) l March 2025. Truslees and officers The trnstees and officers serving during the year and since the year end were as folloivs: Trustees: Michaela Butter, Chair Andrew Cooper (appointed 24 November 2024) Frances Franks Kevin Love Boseda Olawoye James Parkinson Lawrence Robertson (appointed 24 November 2024) Mary Strickson Michèle Taylor (appointed 8 December 2024) Susan Greenaway (appointed 24 November 2024 and resigned I l May 2025) Martin Orrell (resigned 24 November 2024} Nestor Valer(FSilva (resigned 25 November 2024) Secretary- Mell GaT5ide (appointed 24 November ?0?4) Joel Stickley (resigned 24 November 2024) Structure, governanee and management Nature ofgoverning documelll The charity is a company limited by guarantee aT]d registered charity. It is operated under the rules of its memorandum and articles of association dated 16 July 20(kl. It has no Share capital and the liability of each member in the event of winding-up is limited to £ l. Recruilpnenl and appoinlpnenl oflruslees The trustee recruitment policy is currently being reviewed. but we are moving towards a process of posts being advertlsed and recruited openly rather than by invitation. Page 2
City Arts (Nottingbam) Ltd Trustees, Report Objectives and activities Objects and aims The objects of the charity are as follows= (a) The advancement of education and training in the arts and cultural industries with the object of increasing community participation and development: (b) The provision of facilities for recreation or other leisure time occupation in the interests of social welfare with the object of improving the conditions of life for the inhabitants of Nottingham City, Nottinghamshire and the East Midlands in particular (the "area of benefit")- (c) The relief of poverty and promotion of social inclusion and integrdtion amoT]g the inhabitant5 of the area of benefit. The aims of the charity are as follows: (a) To purchase or otherwise acquire or found and to cary on schools and training courses, and to run lectures, seminars, conferences, exhibitions. shows. festivals. master classes and courses. particularly but not exclusively in the field of community arts and cultural industries: (b) To publish books, pamphlets, reports. leaflets. journals. films and instructional matter- (c) To undertake and disseminate research considered necessary for the achievement of the Company's objects; (d) To co-operate '1th other charities, voluntary bodies and statutory authoritie5 operating in furtherance of the objects or similar charitable purposes and to eichange information and advice with them. Public benefit (a) They advance education and training in the arts and cultural industries, increasing community participation and development- (b) They provide facilities for recreation and other leisure titne occupation in the interests of social welfare, improving the conditions of life for the inhabitants of Nottingham City, Nottinghamshire and the East Midlands in particular (the "area of benefit")- (c) They relieve poverty and proTnotion of social inclusion and integration among the inhabitant5 of the area of benefit. The trustees confirni that they have complied with the requirements of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievements and performance Since 1977. we have been breaking down barriers to reconnect people 1th art, culture and creativity. We collaborate with communities and artists to create and explore art of all kinds. making sure our work is inclusive and relevant by listening to what communities need. We stand up for people who are underrepresented in the arts. We see talent where it has been overlooked and undervalued. We believe that everyone is an artist. During 2024125, we delivered a range of projects. focusing on supporting individual access to creativity, working with communities to creaie inspiring projects and events. and nurturing mar(Jinalised artists. Citizen Artists Get Creative For over 10 years, we have supported a group ol artists who are learning disabled. experience mental health Issues or are receiving other types ol health care in the community. b), boosting their M.-ellbeing and skills development through artist-led sessions. This year. the programme facilitated 45 workshops with a total attendance of 20). Their work was showcased in an exhibition in the Window Gallery between January and February. Page i
City Arts (Nottingbam) Ltd Trustees, Report City Arts Hosts This year we supported seven peer-led creative groups in the city - DIY Poets, Puppet Club. Inspire Urself, Gang of Angels, Young Producers, The Enlertainers Steel Band and Can Samba Bateria. With an estimated 527 attendances at creative workshops. performances and meetings in our building. Your Place Hoopla Our hugely successful series of summer mini festivals for families with early j'ea, children, brings high quality puppetry shows, dance and play 10 the four Nottingham neitshbourhoods of Hyson Green. Bulwell, Aspley and St Ann's. which are identified as areas with the highest levels of deprivation (according to the IMD). Delivered in partnership with Small Steps Big Changes. Hoopla involves hyperlocal partners such as playgroups and libraries, bringing a wraparound of local health support servlces. resulting in a relevant and hollstic offer for families. 871 children or caregivers attended a Hoopla lestival. Olthese. 71 /0 of attendees 'strongly agreed, that Hoopla wa5 "well thought throu1 and put togethef,, a further 24 /0 'agreed'. Carlton Art Week The festival took place in October 2024 and was developed from pVIouS work achieved in the area, and the continued desire to showcase people. place and slories. past and present, in any art forn]. The week consisted of a series of exhibiiions of art 'OrkS by local artists and the community, heritage walks and an event, 'display in a day, to showc&se the talent of the community. Artist Development Residence Residence 15 a progratnme that provide5 artists from ma.inal15ed backgrounds with time, space, and resources to create and explore new ideas. It provides them IA'ith mentoring and 5UPPOrt to advance their careers. We had 3 bursary supported artists from Nottinu .ham thi5 year who have faced barriers in their career because of attitudes to their SOCIecono[niC 5tatU5. ethnicity, or disability. Residence artist connected M.-ith Transform Festival, New Art Exchange and Fabric. Their work was also shom'cased in the Window Gallery (viewed by an estimated audience of15,000). with a Q&A session to a diverse audience of 4). Elevate (Young People) We delivered 10 workshops through Elevate. our Creative entrepreneurship course aimed at young creatives which offers free courses enabling 18-30 year olds (outside of formal education) in NottInaM Nottinghamshire to jump-start their creative careers. Associate Artists This year we have provided valuable workspace and support for 6 associate artlsts and 4 associate organisations, ensuring their work is part of the cultural life of the city. 4 olthe art15ts' and 2 Organisations, practice engages with underrepresented demographics. The Window Gallery We hosted 10 exhibitions in our shopfronl window gallery throughout the year, the majority of which showcased work from across our progrdmme. In quarter one, the 'ln Residence, exhibition shom'cased the work of three artists: Laura Decorum. Gemma Poyzer and Sage M Stephanou. The artists M'ere supported and platformed by City Arts as part of our Residence Programme. The 'WordPlay' exhibition w'as presented by the Young Producer5, showcasing poetry-based artwork by both local and international emerging creatives, which aimed to expand what it means to create and share poety. Page 4
City Arts (Nottingbam) Ltd Trustees, Report In quarter two, our exhibilion entitled 'Back io My Roots". consisted of five portraits in oil painted by Nottingham-based contemporary surrealisl artist Laura Decorum. Laura had also been supported through our Residence Programme They explore cultural identity and represent people of colour, challenging oil painting's historic role in immortalising the affluence and influence of the elites. This was followed by an exhibition of two rnagpie puppets that puppet maker Cat Rock created for Nottingham Puppet Festival 2024. The Magpies are the result of a cornrnunity-led commission. and were created through a process of co-design. In quarter three, our exhibition 'Our Queer Futures, celebrated the inspiring individuals who have made an impact on Nottingham's LGBTQ+ community.. through a series of portraits captured by Nottingham based photographer Katie Bishop as part of Qiieer Lp DiickF Quarter four saw Comfort, City Arts 'Get Crealiv'e Collecln'e, presented an exhibition exploring the concept of comfort. Followed by 'The Air We Breaihe, & 'The Weather Station,. Two exhibits using art to explore environmental data about Nottingham. in partnership with The University of Nottingham's City as Lab, Lakeside Arts and by Tuning Group, responds to research and data collected by the Hello Nottingham project. Partnerships BDI Heart This partnership with the University. of NottinJavn's Biodi5covery Institute connected creative practice, life sciences research and grassroots community groups to further the public understanding of science and fi1t health inequalities. During the year. there were ?36 participants in the BDI 5choolchildTen workshop. Nottingham Puppet Festival In April 20?4, as the lead partner, w'e delivered the NPF '1th Theatre Royal Concert Hall. Lakeside Arts, Broadway Media Centre and Nottingham Trent University. Nottingham City Libraries, Squire Perforniing Arts, Meander Theatre and Hubb Community Centre. We brought sotne of the best of the UK'S large-scale puppetry to the people of Nottingham, diverse artists and puppeteer5 telling diverse stories. We delivered 93 of the 115 performances and exhibition5, Wlth a live audience of over 16,000 for our event5. aT]d with a further 14,000 for the accompanying exhibitions. We also aM-'arded J bursary-5UPPOrted Residencies, with mentoring and 5UPPOrt developing professional development plans. Also, as part of the Festival. the National Puppetry Archived presented a small exhibition in our Window Gallery of work by John M Blundall. Young Producers Based at City Arts, Young Producers 15 a group for creative5 aged 18-30 who are looking to be a part of Nottingham's thriving creative scene. For many years. we have 5UPPOrted them to develop professionally and artlStically to enable them to deliver 5elf-led Projects. This year their work was showcased in our Window Gallery. Nottingham Light Night Since 2008, City Arts has contributed to the annual Light Night event run by NottIna City Council, providing workshops and performance5. This year s contribution included The Chimes, by musician Michael Davis in collaboration with City Arts some years ago. This coincided m-.ith Michael's latest sound art being programmed on Sneinton Mark-et Square by It"s in Nottingham. The chiines brought a unique. participatory element to Light Night 25. Queer Up Duck We partnered with JOP Arts in delivering a combined arts LGBT(y- lestival that took place across multiple venues in Nottingham. Including the exhibition in our Window Gallery. Page 5
City Arts (Nottingbam) Ltd Trustees, Report Context and Funding City Arts faces significant challenges in conlinuing to deliver our chariiable objectives in the current economic climate. Due to the financial challenges faced by Nottingham City Council. 202J124 was the last year in which City Arts received the culture grant from the council, which has been a key part of our core income for many years. This 15 in a context of standstill funding for all art5 organisations in receipt of Arts Council England's funding for National Portfolio Organi5ations since 2018. It 15 ditTicult for a such a small organisation to keep pace with inflation, especially in a funding environment where bidding for funds from grant-giving rusts and foundation5 has become increasingly more competitive. Despite the shifting environment, we have continued to deliver an ambitious programme of the highest quality with and for communities who otherw.ise may not have access to a creative and culturnl life. The depth, breadth and scale of our work is beyond what should be expected for such a small, part-time team, thereby demonstrating the phenomenal and unique skill set that each of our staff bring to the organisation. We are grateful to our funders including Paul Hamlyn Foundation and Garfield Weston who have supported us with unrestricted funding. We are also graleful to the Foyle Foundation who have supported our programme going into 2024125. Our partnership with Nottingham Theatre Royal Concert Hall also supported our role in delivering Nottingham Puppet Festival, a city-wide programme of ambitious perfomiances and quality creative activities that reaches some of Nottingham's most deprived communities. Our home also provided a home for grassroots artists and groups. The above list of projects cannot fully represent the impact our programme makes to individuals, communities and the city of Nottingham. This was another year of ambitious and innovative activity. resourced and delivered by our committed and talented team in the tnost challenging of economic environments. The artistic quality of our work is a key factor in its ability to make such impact. At City Arts, we fundamentally believe in the capacity. of creativity to bring people together. build communities and make life better. This remains our mission since 1977. Financial review Keeping an eye on our cash balances, we are aware of our financial position and that difficult decisions may need to be made. We review the cash flow on a month-by-month basis to ensure we are planning and preparing for any eventuality. We are dependent on support from our funders. in particular. the Arts Council and appreciate their support which makes up a significant amount of our income each year. We are also grateful for the financial support offered by Noningham City Council. Since the year end. and as we look ahead. our lease is coming to an end in March and we are considering what savings need to be made. Our decisions are dependent upon further grant income which we continue to seek and monitor. Financial risks We are dependent on funding from trusts and foundations as well as having a signifjcant and long-standing reliance on Arts Council England NPO funding. Our reliance on local authority funding reduces year on year but Still represents a risk. Earned income relies on the financial position olpartners and potential clients.
City Arts (Nottingbam) Ltd Trustees, Report Policy on reserves Our reserves policy sets us a thrget of maintaining £50,000 of unrestricted reserves in order to ensure that emergency funds are available as .¢11 as providing liquidily to allow for fulure cashflow challenges. This is an historic policy and current trustees are reviewing thls in light of our current financial position. Slatemenl of Responsibilities The trustees (who are also the directors of City Arts (Nottingham) Ltd for the purposes of company law) are responsible for preparing the trustees, report and the fmancial statemenis in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kinodom Generally Accepted Accounting Practice).. including FRS 102 "The Financial Reporting Siandard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. Company la. requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial SleMentS unless they are satisfied that they give a true and fair view of the state of affairs of the charilable company and of the incoming resources and application of resources, including its income and expenditure. of the charitable company for that period. In preparing these financial slatements, the trustees are required to: select suitable accounting policie5 and apply them consistently- observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent; state whether applicable accounting 51andards. cotnpri5ing FRS 10? have been followed, subject to any material departure5 disc105ed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the chariiable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the tnaintenance and integrity of the corporate and financial inforniation included on the charitable companv's w"ebsiie. Letsislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Small companies provision statement This report has been prepared in accordance with the small companies gIMe under the Companies Act 2006. The annual report was approved by the trustees of the charity on 25 November 2025 and signed on its behalf by.. Michaela Butter Trustee Page 7
City Arts (Nottingbam) Ltd Independent Examiner's Report to the trustees of City Arts (Nottingbam) Ltd ('the Compall) ) Independent examiner'5 report to the trustee5 of City Arts (Nottingham) Ltd ('the Company,) I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company a not required to be audited under Part 16 of the 2006 Act and are eligible for independent eiamination. I report in respect of my examination of your charity's accounts as carried out under section 145 of the Chariiies Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5}(b) of the 2011 Act. Independent examiner's stalement I have completed my examination. l ¢onfirn) that no Matte have come to my attention in connection with the examination giving me cause to believe that in any maierial respect: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records- or 3. the accounts do not compl). with the accounting requirements of section )96 of the ?006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be draTh'n in this report in order to enable a proper underslanding of the accounts to be reached. 5, BS¢, CPFA, employee of Community Accounting Plus member of the Chartered Institule of Public Finance and AccounLqncy (CIPFA) Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL 25 November 2025
City Arts (Nottingbam) Ltd Statement of Financial Activities for the Year Ended 31 March 202$ (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unreslrieled funds Restricted funds Totsl 2025 Total 2024 Note Ineome and Endowments from: Donations and legacies Charitable activities Investment income 166,429 166,429 55.794 157,777 270,203 196 25,185 Total income 197,OJ8 25,185 22? 223 428,176 Expenditure on: Charitable activities (924,798) (79,776) (304,574) {445,000) Total expenditure {224.798) {79,776) (304.574) (445,000) Net expenditure (27,760) {54,591) (82,351) (16,824) Net movement in funds (27,760) (54,591) (82,351) (16,824) Reconciliation of funds Total funds brought fon¥ard 60,472 149,758 166,582 Total funds carried forward 19 67,407 149,758 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdowm for the period is shown in note 19. The notes on pages 12 to 22 forni an integral part of these financial statements. Page 9
City Arts (Nottingbam) Ltd Statement of Financial Activities for the Year Ended 31 March 202$ (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) These are the figures for the previous accounting period and are ineluded for comparative purposes Unrestricted Reslrieled Total funds fund5 2024 Notc Income and Endowments from: Donations and legacies Charitable activilies Investment income 157,777 58,561 196 157,777 270.20) 196 211,642 Total income 216,5J4 211,642 428,176 Expenditure on: Charitable activities (268.?28) (176,772) (445,000) Total expenditure (?68.228) (176,77?) {445,000) Net (expenditure)/income Transfers between funds (51,694) 34,870 (i9,26?) (16,824) Net movement in funds (19,4J2) (4,392) (16,824) Reconcilialion of funds Total funds brought fOard 72.904 93,678 166,582 Total funds carried fon¥ard 19 60,472 89,286 149,758 The notes on pages 12 to 22 forni an integral part of these financial statements. Page 10
City Arts (Nottingham) Ltd (Registration number= 05181856) Balance Sheet as at 31 March 2025 2025 2024 F4ote Fixed asyet8 Tangible assets 14 15.000 20.000 Curr¢nt assets DebtOTS Cash at bank and in hand 15 16 5.085 50,147 30,592 103,607 55.232 134.199 Credfitor8: Amounts falllng due wlthin one year Net current sets 17 4,441 52,407 129,758 Net assets 67,407 149,758 Fund8 of the charlty: Re$trlcted inconK funds Restricted fldS 19 34,695 89,286 Unrejtrleted Income funds Umrgtri¢l¢d funds 32,712 60,472 Tolal funds 19 67,407 149,758 For the financial v¢ar ¢nding 31 March 2025 lh¢ ¢harity was entitl¢d to ¢xonption from audit un(kr 8e¢tion 477 of the Lompanies Act 2£MK) rel8till8 to bThalJ companie& Directors, Sponsibl]It]es'. The mernlKrs have not required the ¢harity to obtain an audit of its accounts for the year in question in accord8nce with section 476", and The th'r¢ctors aCkM)w1gc thiy rwsibRliti¢s f(f LX)mplying Mith the requiTcm¢Dts of the Act with respt to accounling recor(Ls the preparation of accouu These financial stat¢m¢ntts hav¢ b(*n prq)£ed in accordan¢¢ MTrth the special provisions relating to companies, subject to thc &11 Lompsjnies regime Mithin P8rt 15 of th¢ Companies AL'I 26. The finan¢ial statements on pages 9 to 22 iycrc at4)roved by tb¢ tnjstees. aDd autlxJTised for issue on 25 November 2025 and signd on their beha]f bi.. Trustee The notes on pa8¢$ 12 to 22 fottll au integr81 psrt of t1$¢ fEuanci81 statements. P8ge 11
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 l Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial Statements are set out below. These policie5 have been consistently applied to all the years presente(L unle55 Othenvi5e stated. Slatement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS I O?)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK aTJd Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparalion City Arts (Nottingham) Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheN'ise stated in the relevant accoLmting policy notes. Going concern The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. Exemption from preparing a eash flo)v Statement Under the exemption available to smaller charitie5 the Board of Trustees has chosen not to include a Statement of Cash Flows Wlthin the financial statetnents. Income and endowments Voluntary income including donation5, gift5, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income. it IS Probable that the income will be received and the amount can be measured with sufficient reliability. Donalions and legacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perforniance by the charity before the charity is entitled to the funds: the income is deferred av]d not recognised until either those conditions are fully met, or the fulfilmeni of those conditions is wholly wiihin the Control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Grants receivable Grants are recognised when the charity has an entitlement to the funds and anj conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Page 12
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Inve51ment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expendilure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregale similar costs to that calegory. Where costs cannot be directly attributed to particular headings they have been allocated on a basls conslslent with the use of resources, with central staff costs allocated on the basis of time spenl. and deprecialion charges allocated on the portloi) of the asset's use. Other support costs are allocated based on the spread of staff costs. Charilable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated direcily to such activiiies and those costs of an indirect nature necessary to support them. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter J Part I l of the Corporation Tax Act 2010 or Section ?56 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed a55ets Individiial fixed assets Costing £500.00 or more are initially recorded at cost, less any Subsequent accumulated depreciation and subsequent accumulated impairtnent losse5. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost OT valuation, le55 any estimated residual value. over their expected useful economic life as follows- Asset class Computer equipment General equipment Leasehold improvements Depreciation method and rate 3J.) /0 on a straight line basis 200/0 on a straight line ba51S 250/0 on a straight line ba51S Trade debtors Trade debtors are amounts due from Custome for merchandise sold or services perfonned in the ordinary course of business. Trade debtors are recognised inilially at the transaction price. They are subsequently measured at amortised cost using the effective interest method. less provision for impainnenl. A provision for the impainnent of trade debtors is estsblished when there is objective evidence thal the charity will not be able to collect all amoLmts due according to the original tenns of the receivables. Page li
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn highly liquid investments that are readily convertible to a known amount of cash and are subject to an insilfICant risk of change in value. Fund struclure Unrestricted income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other post retiretnent obligat10115 The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Pension costs charges in the Statement of Financial Aclivities represent the contributions payable by the charity during the year. 2 Income from donations and legacies Unrestricted fund5 General Total 202) Total 2024 Donations and legacies. Donations from individuals Grants. including capital grants: Government grants Grants from other charities 2,918 2,918 2,816 5.000 158,511 5,000 158,511 17,770 137,191 166,4?9 166,429 157,777 Page 14
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 3 Income from charitable activities Unrestricted funds General Restricted funds Totsl 202) Total 2024 Grants & donation5 Fee5 & commi55ions Facilitie5 & resources Other income 25,185 25,185 22,141 8,409 59 211,642 49,362 9,100 99 22,141 8,409 59 25,185 55,794 270,20) 4 Grants & donations Unrestricted funds Restrieled funds Total Arts Council England The Jone5 1986 Charitable Trust University of Nottingham Garfield Weston Foundation Paul Hamljn Foundation NCF SSBC Hoopla Gedling BorouJ] Council Sundry donations 105,311 5,000 105,311 5,000 11,325 20,000 28,200 13,860 5,000 2,918 11,325 20,000 28,?00 13,860 5,000 2.918 166,429 ?5,185 191,614 5 Investment income Tot21 2025 Total 2024 Interest receivable and similar income- Interest receivable on bank dep051ts 196 Page 15
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 6 Iyet incomingloutgoing resources Net outgoing resources for the year include: 2025 2024 Depreciation of fixed assets 5,000 5,000 7 Expenditure on charitable activities Unrestricted fund5 General Restricted fund5 Total 2025 Total 2024 Project costs Depreciation Staff travel & subsistence Staff training Premises costs Office costs Professional & consultancy fees Insurance Wages, NI & pensions Bank charges Accounting & payroll Staff recruitment Refreshments Organisational Development IT & communications Board costs Marketing Utilities Publications & subscriptions i.025 5.000 21,365 24,390 5,000 151,581 5,000 1,225 662 662 24,006 2,369 58,878 7,096 172,665 63 56,044 69,126 6,267 159,421 6,267 157.2J4 51 2,187 2,561 78 659 659 154 1.734 5.046 146 2,618 6,459 1,916 1,260 7,071 5,046 146 1,311 4,508 288 180 1.491 4.508 288 2?4,798 79,776 304,574 445,000 Page 16
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 8 Fees payable to indepeTJdent examiner During the period. the fees payable (excluding VAT) to the charity's independent examiner Community Accounting Plus are analysed as follo.5= 2025 2024 Independent examination Other financial services 1,125 900 1,080 874 2,025 1,954 9 Related party transactions There were no related party transactions in the year. 10 Staff costs The aggregate payroll costs were as follows: 2025 2024 Slaff cosls during the year were: Wages and salaries Social security costs Pension costs 150,742 5,858 2,821 162,3J6 7,199 159,421 172,665 The monthly average number of persons (including senior management team} employed by the charity during the year was as follows.. 2025 2024 Average number of employees 6 (2024 - 6) of the above employees participated in the Defined Contribuiion Pension Schemes. Contributions to the employee pension schemes for the year totalled £2,821 (2024 - £3,130). No employee received emoluments of more than £60,000 during the year. The total employee benefits of the key management personnel of the charity were £68,957 (2024 - £69,190). Page17
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 I l Trustees remuneration and expen5e5 No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 12 Taxation The charity is a registered charity and is therefore exempt from corporation taxation. 13 Charity stalus The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 14 Tangible fixed assets Computer equiplnent General equipment Leasehold improvements Total Cost At l April 2024 14,371 133,026 5,284 152,681 At J l March 2025 14,371 133,026 5,284 152,681 Depreciation At l April 2024 Charge for the year 14,371 113,026 5.000 5,284 132,681 5,000 At 31 March 2025 14,371 18,026 5.284 lJ7,681 Net book value At J l March 2025 15.000 15,000 At 31 March 2024 20,000 20,000 15 Debtors 2025 2024 Trade debtors Prepayments 2,444 2.641 28,570 2,022 5.085 30,592 Page18
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 16 Cash and cash equivalents 2025 2024 Cash on hand Cash at bank 208 49,939 ioi 103,506 50,147 103,607 17 Creditors: amounts falling due wilhin one year 2025 2024 Other Lqxatlon and social security Other creditors I,oio 1,815 1,296 2.825 4,441 18 Obligations under leases and bire purchase contracts Operaling lease commitments Total future minimum lease payments under non-cancellable operating leases are as follows: 2025 2024 Land and buildings Within one year Between one and five years 14,000 26,833 Page 19
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 19 Funds Balance al April 2024 Incoming resources Resources expended Balance at 31 March 2025 Unrestricted funds Generol General fund 40,472 197.0)8 (219,798) 17,712 Olher Revaluation reserve 20.000 (5.000) 15,000 20.000 (5.000) 15,000 Tot21 unrestricted funds 60,472 197,OJ8 (?24,798} 32,712 Restricted funds Artist development programme Nottingham puppet festival BDI {University of Nottingham) Hoopla (SSBC) 6,395 51,491 21,400 i 0,000 {6,395) (51,491) (11,890) ( i 0,000) 1,325 13,860 20,835 13,860 Total restricted fund5 25,185 (79,776) Tot21 funds 149,758 2?2,22J (304.574) 67,407 The specific purposes for which the funds are to be applied are as follows: Artist development programme.. This 'aS funded by the Foyle Foundatlon and covers the following activities.. Elevate Young People's Training Programme: Young Pn)ducers Takeover. RESIDENC.E Community Panel Programme; RESIDENCE Artists Bursary Programme: Disability Summit Venue Perforniance Programme & Window Gallery Programme. Nottingham Puppet Festival.. Work slarted on this ACE Project Grant-funded collaboration with Theatre Royal & Royal Concert Hall, with delivery partners including Lakeside Arts. Broadway. Nottingham City Libraries and the Squire Perfomiing Arts Centre. Delivery of the main festival programme will take place in early 2024125. BDI.. This is a project in partnership with the University of Nottingham'5 Biodiscovery Institute which connects creative practice. life sciences research and grassroots community groups to further the public understanding of science and fight health inequalities. Hooplal Small Steps Big Changes {SSBC}: To support the delivery of mini-festivals for ages 04 and their families in Nottingham neighl)ourhoods ranked highly in the indices of multiple deprivalion. Page 20
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Balance at 31 March 2024 Balance at I April 2023 Incoming resources Resourees expended Transfers Unrestricted fund5 General General fund 47.904 216.5J4 (26J,228) 40,472 Oiher Revaluation reserve 25,000 (5.000) 20,000 25,000 (5.000) 20,000 Total unrestricted funds 216.5)4 (268.228) 60,472 Restricted Artist development programme ArtPloyment My Voice My Place Nottingham puppet festival Poetry on the Go BDI (University of Nottingham) Hoopla (SSBC) Residence (Arts Council England) 29,000 (7,008) (44,462} (5, (17,429) (66,910) (15,597) (2,397) (1,347) (20,000) (4,82J) 6,395 8,978 6.700 88.920 51,491 (20,900} (9,007) 6,510 (1,85J) 21,400 10,000 10.000 10.860 2.967 2.491 (5.703) 245 Total restricted funds 93,678 211,fv12 (176,772) (J9,?62) 89,286 Total funds 166.582 428.176 (445,000) 149,758 Last year there were the following restricted funds: ARTployment (2021 2023).. Funding from Erasmus+ to deliver a creative skills and career development programme for young people from different countries. in collaboration with international partners, including both European and South American organisations. Poetry on the Go (POGO).. Funding frotn Erasmus+ to collaboratively develop a 5tnart phone app exploring and celebrating poetry from different cultures. working with international partner organisations and young people in their respective home countries. Residence Arts Council England Project Grant: To deliver a programme of artist development targeted at artlsts who are under-represented in the arts sector. My Voice My Place - This projea was in collaboration with Jigsaw homes and involved local residents in the creation of the film 'Carlton England,. Page21
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 20 Analysis of net a55ets between funds Unrestricted 2025 Total funds General Restrieled Tangible fjxed assets Current assets Current liabilities 15,000 15,000 (9.825) (2,825) Total net assets i4,695 67,407 Unrestricted 2024 Total funds General Reslrieled Tangible fixed assets Current assets 20,000 20,000 134,199 (4,441) 89,286 Current liabilities (4,441) Total net assets 60.47? 89,286 149,758 Page 22
Company registration number: 05181856 Charity registration number- 1106088 City Arts (Nottingham) Ltd (A covnpany limited by guarantee) Annual Report and Financial Statements for the Year Ended ) l March 2025 Community Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL
City Arts (Nottingbam) Ltd Contents Reference and Administrative Details Trustees, Report 2to7 Independent Examiner's Report Statement of Financial Activities 9t0 10 Balance Sheet Notes to the Financial Statements 12to22
City Arts (Nottingbam) Ltd Reference and Administrative Details Truslees Michaela Butter. Chair Andrew Cooper Frances Franks Kevin Love Boseda Olawoye James Parkinson Lawrence Robertson Mary Strickson Michèle Taylor Mell Garside Secrelary Senior Management Team Suzannah Bedford. Director Mell Garside, Finance & Operations Manager Charity Registration Number 1106088 Company Registration Number 05181856 Registered Office I I-IJ Hockley Nottingham NGI IFH Independent Examiner Eva Stevens. employee of Communily Accounting Plus Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL Page I
City Arts (Nottingbam) Ltd Trustees, Report The trustees, who are directors for the puryjoses of company law. present the annual report together with the financial statements of the charitable company for the year ended ) l March 2025. Truslees and officers The trnstees and officers serving during the year and since the year end were as folloivs: Trustees: Michaela Butter, Chair Andrew Cooper (appointed 24 November 2024) Frances Franks Kevin Love Boseda Olawoye James Parkinson Lawrence Robertson (appointed 24 November 2024) Mary Strickson Michèle Taylor (appointed 8 December 2024) Susan Greenaway (appointed 24 November 2024 and resigned I l May 2025) Martin Orrell (resigned 24 November 2024} Nestor Valer(FSilva (resigned 25 November 2024) Secretary- Mell GaT5ide (appointed 24 November ?0?4) Joel Stickley (resigned 24 November 2024) Structure, governanee and management Nature ofgoverning documelll The charity is a company limited by guarantee aT]d registered charity. It is operated under the rules of its memorandum and articles of association dated 16 July 20(kl. It has no Share capital and the liability of each member in the event of winding-up is limited to £ l. Recruilpnenl and appoinlpnenl oflruslees The trustee recruitment policy is currently being reviewed. but we are moving towards a process of posts being advertlsed and recruited openly rather than by invitation. Page 2
City Arts (Nottingbam) Ltd Trustees, Report Objectives and activities Objects and aims The objects of the charity are as follows= (a) The advancement of education and training in the arts and cultural industries with the object of increasing community participation and development: (b) The provision of facilities for recreation or other leisure time occupation in the interests of social welfare with the object of improving the conditions of life for the inhabitants of Nottingham City, Nottinghamshire and the East Midlands in particular (the "area of benefit")- (c) The relief of poverty and promotion of social inclusion and integrdtion amoT]g the inhabitant5 of the area of benefit. The aims of the charity are as follows: (a) To purchase or otherwise acquire or found and to cary on schools and training courses, and to run lectures, seminars, conferences, exhibitions. shows. festivals. master classes and courses. particularly but not exclusively in the field of community arts and cultural industries: (b) To publish books, pamphlets, reports. leaflets. journals. films and instructional matter- (c) To undertake and disseminate research considered necessary for the achievement of the Company's objects; (d) To co-operate '1th other charities, voluntary bodies and statutory authoritie5 operating in furtherance of the objects or similar charitable purposes and to eichange information and advice with them. Public benefit (a) They advance education and training in the arts and cultural industries, increasing community participation and development- (b) They provide facilities for recreation and other leisure titne occupation in the interests of social welfare, improving the conditions of life for the inhabitants of Nottingham City, Nottinghamshire and the East Midlands in particular (the "area of benefit")- (c) They relieve poverty and proTnotion of social inclusion and integration among the inhabitant5 of the area of benefit. The trustees confirni that they have complied with the requirements of section 17 of the Charities Act 201 I to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievements and performance Since 1977. we have been breaking down barriers to reconnect people 1th art, culture and creativity. We collaborate with communities and artists to create and explore art of all kinds. making sure our work is inclusive and relevant by listening to what communities need. We stand up for people who are underrepresented in the arts. We see talent where it has been overlooked and undervalued. We believe that everyone is an artist. During 2024125, we delivered a range of projects. focusing on supporting individual access to creativity, working with communities to creaie inspiring projects and events. and nurturing mar(Jinalised artists. Citizen Artists Get Creative For over 10 years, we have supported a group ol artists who are learning disabled. experience mental health Issues or are receiving other types ol health care in the community. b), boosting their M.-ellbeing and skills development through artist-led sessions. This year. the programme facilitated 45 workshops with a total attendance of 20). Their work was showcased in an exhibition in the Window Gallery between January and February. Page i
City Arts (Nottingbam) Ltd Trustees, Report City Arts Hosts This year we supported seven peer-led creative groups in the city - DIY Poets, Puppet Club. Inspire Urself, Gang of Angels, Young Producers, The Enlertainers Steel Band and Can Samba Bateria. With an estimated 527 attendances at creative workshops. performances and meetings in our building. Your Place Hoopla Our hugely successful series of summer mini festivals for families with early j'ea, children, brings high quality puppetry shows, dance and play 10 the four Nottingham neitshbourhoods of Hyson Green. Bulwell, Aspley and St Ann's. which are identified as areas with the highest levels of deprivation (according to the IMD). Delivered in partnership with Small Steps Big Changes. Hoopla involves hyperlocal partners such as playgroups and libraries, bringing a wraparound of local health support servlces. resulting in a relevant and hollstic offer for families. 871 children or caregivers attended a Hoopla lestival. Olthese. 71 /0 of attendees 'strongly agreed, that Hoopla wa5 "well thought throu1 and put togethef,, a further 24 /0 'agreed'. Carlton Art Week The festival took place in October 2024 and was developed from pVIouS work achieved in the area, and the continued desire to showcase people. place and slories. past and present, in any art forn]. The week consisted of a series of exhibiiions of art 'OrkS by local artists and the community, heritage walks and an event, 'display in a day, to showc&se the talent of the community. Artist Development Residence Residence 15 a progratnme that provide5 artists from ma.inal15ed backgrounds with time, space, and resources to create and explore new ideas. It provides them IA'ith mentoring and 5UPPOrt to advance their careers. We had 3 bursary supported artists from Nottinu .ham thi5 year who have faced barriers in their career because of attitudes to their SOCIecono[niC 5tatU5. ethnicity, or disability. Residence artist connected M.-ith Transform Festival, New Art Exchange and Fabric. Their work was also shom'cased in the Window Gallery (viewed by an estimated audience of15,000). with a Q&A session to a diverse audience of 4). Elevate (Young People) We delivered 10 workshops through Elevate. our Creative entrepreneurship course aimed at young creatives which offers free courses enabling 18-30 year olds (outside of formal education) in NottInaM Nottinghamshire to jump-start their creative careers. Associate Artists This year we have provided valuable workspace and support for 6 associate artlsts and 4 associate organisations, ensuring their work is part of the cultural life of the city. 4 olthe art15ts' and 2 Organisations, practice engages with underrepresented demographics. The Window Gallery We hosted 10 exhibitions in our shopfronl window gallery throughout the year, the majority of which showcased work from across our progrdmme. In quarter one, the 'ln Residence, exhibition shom'cased the work of three artists: Laura Decorum. Gemma Poyzer and Sage M Stephanou. The artists M'ere supported and platformed by City Arts as part of our Residence Programme. The 'WordPlay' exhibition w'as presented by the Young Producer5, showcasing poetry-based artwork by both local and international emerging creatives, which aimed to expand what it means to create and share poety. Page 4
City Arts (Nottingbam) Ltd Trustees, Report In quarter two, our exhibilion entitled 'Back io My Roots". consisted of five portraits in oil painted by Nottingham-based contemporary surrealisl artist Laura Decorum. Laura had also been supported through our Residence Programme They explore cultural identity and represent people of colour, challenging oil painting's historic role in immortalising the affluence and influence of the elites. This was followed by an exhibition of two rnagpie puppets that puppet maker Cat Rock created for Nottingham Puppet Festival 2024. The Magpies are the result of a cornrnunity-led commission. and were created through a process of co-design. In quarter three, our exhibition 'Our Queer Futures, celebrated the inspiring individuals who have made an impact on Nottingham's LGBTQ+ community.. through a series of portraits captured by Nottingham based photographer Katie Bishop as part of Qiieer Lp DiickF Quarter four saw Comfort, City Arts 'Get Crealiv'e Collecln'e, presented an exhibition exploring the concept of comfort. Followed by 'The Air We Breaihe, & 'The Weather Station,. Two exhibits using art to explore environmental data about Nottingham. in partnership with The University of Nottingham's City as Lab, Lakeside Arts and by Tuning Group, responds to research and data collected by the Hello Nottingham project. Partnerships BDI Heart This partnership with the University. of NottinJavn's Biodi5covery Institute connected creative practice, life sciences research and grassroots community groups to further the public understanding of science and fi1t health inequalities. During the year. there were ?36 participants in the BDI 5choolchildTen workshop. Nottingham Puppet Festival In April 20?4, as the lead partner, w'e delivered the NPF '1th Theatre Royal Concert Hall. Lakeside Arts, Broadway Media Centre and Nottingham Trent University. Nottingham City Libraries, Squire Perforniing Arts, Meander Theatre and Hubb Community Centre. We brought sotne of the best of the UK'S large-scale puppetry to the people of Nottingham, diverse artists and puppeteer5 telling diverse stories. We delivered 93 of the 115 performances and exhibition5, Wlth a live audience of over 16,000 for our event5. aT]d with a further 14,000 for the accompanying exhibitions. We also aM-'arded J bursary-5UPPOrted Residencies, with mentoring and 5UPPOrt developing professional development plans. Also, as part of the Festival. the National Puppetry Archived presented a small exhibition in our Window Gallery of work by John M Blundall. Young Producers Based at City Arts, Young Producers 15 a group for creative5 aged 18-30 who are looking to be a part of Nottingham's thriving creative scene. For many years. we have 5UPPOrted them to develop professionally and artlStically to enable them to deliver 5elf-led Projects. This year their work was showcased in our Window Gallery. Nottingham Light Night Since 2008, City Arts has contributed to the annual Light Night event run by NottIna City Council, providing workshops and performance5. This year s contribution included The Chimes, by musician Michael Davis in collaboration with City Arts some years ago. This coincided m-.ith Michael's latest sound art being programmed on Sneinton Mark-et Square by It"s in Nottingham. The chiines brought a unique. participatory element to Light Night 25. Queer Up Duck We partnered with JOP Arts in delivering a combined arts LGBT(y- lestival that took place across multiple venues in Nottingham. Including the exhibition in our Window Gallery. Page 5
City Arts (Nottingbam) Ltd Trustees, Report Context and Funding City Arts faces significant challenges in conlinuing to deliver our chariiable objectives in the current economic climate. Due to the financial challenges faced by Nottingham City Council. 202J124 was the last year in which City Arts received the culture grant from the council, which has been a key part of our core income for many years. This 15 in a context of standstill funding for all art5 organisations in receipt of Arts Council England's funding for National Portfolio Organi5ations since 2018. It 15 ditTicult for a such a small organisation to keep pace with inflation, especially in a funding environment where bidding for funds from grant-giving rusts and foundation5 has become increasingly more competitive. Despite the shifting environment, we have continued to deliver an ambitious programme of the highest quality with and for communities who otherw.ise may not have access to a creative and culturnl life. The depth, breadth and scale of our work is beyond what should be expected for such a small, part-time team, thereby demonstrating the phenomenal and unique skill set that each of our staff bring to the organisation. We are grateful to our funders including Paul Hamlyn Foundation and Garfield Weston who have supported us with unrestricted funding. We are also graleful to the Foyle Foundation who have supported our programme going into 2024125. Our partnership with Nottingham Theatre Royal Concert Hall also supported our role in delivering Nottingham Puppet Festival, a city-wide programme of ambitious perfomiances and quality creative activities that reaches some of Nottingham's most deprived communities. Our home also provided a home for grassroots artists and groups. The above list of projects cannot fully represent the impact our programme makes to individuals, communities and the city of Nottingham. This was another year of ambitious and innovative activity. resourced and delivered by our committed and talented team in the tnost challenging of economic environments. The artistic quality of our work is a key factor in its ability to make such impact. At City Arts, we fundamentally believe in the capacity. of creativity to bring people together. build communities and make life better. This remains our mission since 1977. Financial review Keeping an eye on our cash balances, we are aware of our financial position and that difficult decisions may need to be made. We review the cash flow on a month-by-month basis to ensure we are planning and preparing for any eventuality. We are dependent on support from our funders. in particular. the Arts Council and appreciate their support which makes up a significant amount of our income each year. We are also grateful for the financial support offered by Noningham City Council. Since the year end. and as we look ahead. our lease is coming to an end in March and we are considering what savings need to be made. Our decisions are dependent upon further grant income which we continue to seek and monitor. Financial risks We are dependent on funding from trusts and foundations as well as having a signifjcant and long-standing reliance on Arts Council England NPO funding. Our reliance on local authority funding reduces year on year but Still represents a risk. Earned income relies on the financial position olpartners and potential clients.
City Arts (Nottingbam) Ltd Trustees, Report Policy on reserves Our reserves policy sets us a thrget of maintaining £50,000 of unrestricted reserves in order to ensure that emergency funds are available as .¢11 as providing liquidily to allow for fulure cashflow challenges. This is an historic policy and current trustees are reviewing thls in light of our current financial position. Slatemenl of Responsibilities The trustees (who are also the directors of City Arts (Nottingham) Ltd for the purposes of company law) are responsible for preparing the trustees, report and the fmancial statemenis in accordance with applicable law and United Kingdom Accounting Standards (Uniled Kinodom Generally Accepted Accounting Practice).. including FRS 102 "The Financial Reporting Siandard applicable in the UK and Republic of Ireland" The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. Company la. requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial SleMentS unless they are satisfied that they give a true and fair view of the state of affairs of the charilable company and of the incoming resources and application of resources, including its income and expenditure. of the charitable company for that period. In preparing these financial slatements, the trustees are required to: select suitable accounting policie5 and apply them consistently- observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonable and prudent; state whether applicable accounting 51andards. cotnpri5ing FRS 10? have been followed, subject to any material departure5 disc105ed and explained in the financial statements- and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the chariiable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the tnaintenance and integrity of the corporate and financial inforniation included on the charitable companv's w"ebsiie. Letsislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Small companies provision statement This report has been prepared in accordance with the small companies gIMe under the Companies Act 2006. The annual report was approved by the trustees of the charity on 25 November 2025 and signed on its behalf by.. Michaela Butter Trustee Page 7
City Arts (Nottingbam) Ltd Independent Examiner's Report to the trustees of City Arts (Nottingbam) Ltd ('the Compall) ) Independent examiner'5 report to the trustee5 of City Arts (Nottingham) Ltd ('the Company,) I report to the charity trustees on my examination of the accounts of the company for the year ended 31 March 2025. Responsibilities and basis of report As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Company a not required to be audited under Part 16 of the 2006 Act and are eligible for independent eiamination. I report in respect of my examination of your charity's accounts as carried out under section 145 of the Chariiies Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5}(b) of the 2011 Act. Independent examiner's stalement I have completed my examination. l ¢onfirn) that no Matte have come to my attention in connection with the examination giving me cause to believe that in any maierial respect: accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records- or 3. the accounts do not compl). with the accounting requirements of section )96 of the ?006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be draTh'n in this report in order to enable a proper underslanding of the accounts to be reached. 5, BS¢, CPFA, employee of Community Accounting Plus member of the Chartered Institule of Public Finance and AccounLqncy (CIPFA) Units l & 2 North West 41 Talbot Street Nottingham NGI 5GL 25 November 2025
City Arts (Nottingbam) Ltd Statement of Financial Activities for the Year Ended 31 March 202$ (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unreslrieled funds Restricted funds Totsl 2025 Total 2024 Note Ineome and Endowments from: Donations and legacies Charitable activities Investment income 166,429 166,429 55.794 157,777 270,203 196 25,185 Total income 197,OJ8 25,185 22? 223 428,176 Expenditure on: Charitable activities (924,798) (79,776) (304,574) {445,000) Total expenditure {224.798) {79,776) (304.574) (445,000) Net expenditure (27,760) {54,591) (82,351) (16,824) Net movement in funds (27,760) (54,591) (82,351) (16,824) Reconciliation of funds Total funds brought fon¥ard 60,472 149,758 166,582 Total funds carried forward 19 67,407 149,758 All of the charity's activities derive from continuing operations during the above two periods. The funds breakdowm for the period is shown in note 19. The notes on pages 12 to 22 forni an integral part of these financial statements. Page 9
City Arts (Nottingbam) Ltd Statement of Financial Activities for the Year Ended 31 March 202$ (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) These are the figures for the previous accounting period and are ineluded for comparative purposes Unrestricted Reslrieled Total funds fund5 2024 Notc Income and Endowments from: Donations and legacies Charitable activilies Investment income 157,777 58,561 196 157,777 270.20) 196 211,642 Total income 216,5J4 211,642 428,176 Expenditure on: Charitable activities (268.?28) (176,772) (445,000) Total expenditure (?68.228) (176,77?) {445,000) Net (expenditure)/income Transfers between funds (51,694) 34,870 (i9,26?) (16,824) Net movement in funds (19,4J2) (4,392) (16,824) Reconcilialion of funds Total funds brought fOard 72.904 93,678 166,582 Total funds carried fon¥ard 19 60,472 89,286 149,758 The notes on pages 12 to 22 forni an integral part of these financial statements. Page 10
City Arts (Nottingham) Ltd (Registration number= 05181856) Balance Sheet as at 31 March 2025 2025 2024 F4ote Fixed asyet8 Tangible assets 14 15.000 20.000 Curr¢nt assets DebtOTS Cash at bank and in hand 15 16 5.085 50,147 30,592 103,607 55.232 134.199 Credfitor8: Amounts falllng due wlthin one year Net current sets 17 4,441 52,407 129,758 Net assets 67,407 149,758 Fund8 of the charlty: Re$trlcted inconK funds Restricted fldS 19 34,695 89,286 Unrejtrleted Income funds Umrgtri¢l¢d funds 32,712 60,472 Tolal funds 19 67,407 149,758 For the financial v¢ar ¢nding 31 March 2025 lh¢ ¢harity was entitl¢d to ¢xonption from audit un(kr 8e¢tion 477 of the Lompanies Act 2£MK) rel8till8 to bThalJ companie& Directors, Sponsibl]It]es'. The mernlKrs have not required the ¢harity to obtain an audit of its accounts for the year in question in accord8nce with section 476", and The th'r¢ctors aCkM)w1gc thiy rwsibRliti¢s f(f LX)mplying Mith the requiTcm¢Dts of the Act with respt to accounling recor(Ls the preparation of accouu These financial stat¢m¢ntts hav¢ b(*n prq)£ed in accordan¢¢ MTrth the special provisions relating to companies, subject to thc &11 Lompsjnies regime Mithin P8rt 15 of th¢ Companies AL'I 26. The finan¢ial statements on pages 9 to 22 iycrc at4)roved by tb¢ tnjstees. aDd autlxJTised for issue on 25 November 2025 and signd on their beha]f bi.. Trustee The notes on pa8¢$ 12 to 22 fottll au integr81 psrt of t1$¢ fEuanci81 statements. P8ge 11
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 l Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial Statements are set out below. These policie5 have been consistently applied to all the years presente(L unle55 Othenvi5e stated. Slatement of compliance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS I O?)) (issued in October 2019) (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK aTJd Republic of Ireland (FRS 102) and the Companies Act 2006. Basis of preparalion City Arts (Nottingham) Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otheN'ise stated in the relevant accoLmting policy notes. Going concern The financial statements have been prepared on a going concern basis. The trustees assess whether the use of going concern is appropriate i.e. whether there are any material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern. The trustees make this assessment in respect of a period of one year from the date of approval of the financial statements. Exemption from preparing a eash flo)v Statement Under the exemption available to smaller charitie5 the Board of Trustees has chosen not to include a Statement of Cash Flows Wlthin the financial statetnents. Income and endowments Voluntary income including donation5, gift5, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income. it IS Probable that the income will be received and the amount can be measured with sufficient reliability. Donalions and legacies Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of perforniance by the charity before the charity is entitled to the funds: the income is deferred av]d not recognised until either those conditions are fully met, or the fulfilmeni of those conditions is wholly wiihin the Control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Grants receivable Grants are recognised when the charity has an entitlement to the funds and anj conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released. Page 12
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Inve51ment income Dividends are recognised once the dividend has been declared and notification has been received of the dividend due. Expendilure All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregale similar costs to that calegory. Where costs cannot be directly attributed to particular headings they have been allocated on a basls conslslent with the use of resources, with central staff costs allocated on the basis of time spenl. and deprecialion charges allocated on the portloi) of the asset's use. Other support costs are allocated based on the spread of staff costs. Charilable activities Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated direcily to such activiiies and those costs of an indirect nature necessary to support them. Taxation The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter J Part I l of the Corporation Tax Act 2010 or Section ?56 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively to charitable purposes. Tangible fixed a55ets Individiial fixed assets Costing £500.00 or more are initially recorded at cost, less any Subsequent accumulated depreciation and subsequent accumulated impairtnent losse5. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost OT valuation, le55 any estimated residual value. over their expected useful economic life as follows- Asset class Computer equipment General equipment Leasehold improvements Depreciation method and rate 3J.) /0 on a straight line basis 200/0 on a straight line ba51S 250/0 on a straight line ba51S Trade debtors Trade debtors are amounts due from Custome for merchandise sold or services perfonned in the ordinary course of business. Trade debtors are recognised inilially at the transaction price. They are subsequently measured at amortised cost using the effective interest method. less provision for impainnenl. A provision for the impainnent of trade debtors is estsblished when there is objective evidence thal the charity will not be able to collect all amoLmts due according to the original tenns of the receivables. Page li
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-tenn highly liquid investments that are readily convertible to a known amount of cash and are subject to an insilfICant risk of change in value. Fund struclure Unrestricted income funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the charity. Restricted income funds are those grants for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose. Pensions and other post retiretnent obligat10115 The charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the charity. Pension costs charges in the Statement of Financial Aclivities represent the contributions payable by the charity during the year. 2 Income from donations and legacies Unrestricted fund5 General Total 202) Total 2024 Donations and legacies. Donations from individuals Grants. including capital grants: Government grants Grants from other charities 2,918 2,918 2,816 5.000 158,511 5,000 158,511 17,770 137,191 166,4?9 166,429 157,777 Page 14
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 3 Income from charitable activities Unrestricted funds General Restricted funds Totsl 202) Total 2024 Grants & donation5 Fee5 & commi55ions Facilitie5 & resources Other income 25,185 25,185 22,141 8,409 59 211,642 49,362 9,100 99 22,141 8,409 59 25,185 55,794 270,20) 4 Grants & donations Unrestricted funds Restrieled funds Total Arts Council England The Jone5 1986 Charitable Trust University of Nottingham Garfield Weston Foundation Paul Hamljn Foundation NCF SSBC Hoopla Gedling BorouJ] Council Sundry donations 105,311 5,000 105,311 5,000 11,325 20,000 28,200 13,860 5,000 2,918 11,325 20,000 28,?00 13,860 5,000 2.918 166,429 ?5,185 191,614 5 Investment income Tot21 2025 Total 2024 Interest receivable and similar income- Interest receivable on bank dep051ts 196 Page 15
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 6 Iyet incomingloutgoing resources Net outgoing resources for the year include: 2025 2024 Depreciation of fixed assets 5,000 5,000 7 Expenditure on charitable activities Unrestricted fund5 General Restricted fund5 Total 2025 Total 2024 Project costs Depreciation Staff travel & subsistence Staff training Premises costs Office costs Professional & consultancy fees Insurance Wages, NI & pensions Bank charges Accounting & payroll Staff recruitment Refreshments Organisational Development IT & communications Board costs Marketing Utilities Publications & subscriptions i.025 5.000 21,365 24,390 5,000 151,581 5,000 1,225 662 662 24,006 2,369 58,878 7,096 172,665 63 56,044 69,126 6,267 159,421 6,267 157.2J4 51 2,187 2,561 78 659 659 154 1.734 5.046 146 2,618 6,459 1,916 1,260 7,071 5,046 146 1,311 4,508 288 180 1.491 4.508 288 2?4,798 79,776 304,574 445,000 Page 16
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 8 Fees payable to indepeTJdent examiner During the period. the fees payable (excluding VAT) to the charity's independent examiner Community Accounting Plus are analysed as follo.5= 2025 2024 Independent examination Other financial services 1,125 900 1,080 874 2,025 1,954 9 Related party transactions There were no related party transactions in the year. 10 Staff costs The aggregate payroll costs were as follows: 2025 2024 Slaff cosls during the year were: Wages and salaries Social security costs Pension costs 150,742 5,858 2,821 162,3J6 7,199 159,421 172,665 The monthly average number of persons (including senior management team} employed by the charity during the year was as follows.. 2025 2024 Average number of employees 6 (2024 - 6) of the above employees participated in the Defined Contribuiion Pension Schemes. Contributions to the employee pension schemes for the year totalled £2,821 (2024 - £3,130). No employee received emoluments of more than £60,000 during the year. The total employee benefits of the key management personnel of the charity were £68,957 (2024 - £69,190). Page17
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 I l Trustees remuneration and expen5e5 No trustees, nor any persons connected with them, have received any remuneration from the charity during the year. No trustees have received any reimbursed expenses or any other benefits from the charity during the year. 12 Taxation The charity is a registered charity and is therefore exempt from corporation taxation. 13 Charity stalus The charity is a company limited by guarantee and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 14 Tangible fixed assets Computer equiplnent General equipment Leasehold improvements Total Cost At l April 2024 14,371 133,026 5,284 152,681 At J l March 2025 14,371 133,026 5,284 152,681 Depreciation At l April 2024 Charge for the year 14,371 113,026 5.000 5,284 132,681 5,000 At 31 March 2025 14,371 18,026 5.284 lJ7,681 Net book value At J l March 2025 15.000 15,000 At 31 March 2024 20,000 20,000 15 Debtors 2025 2024 Trade debtors Prepayments 2,444 2.641 28,570 2,022 5.085 30,592 Page18
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 16 Cash and cash equivalents 2025 2024 Cash on hand Cash at bank 208 49,939 ioi 103,506 50,147 103,607 17 Creditors: amounts falling due wilhin one year 2025 2024 Other Lqxatlon and social security Other creditors I,oio 1,815 1,296 2.825 4,441 18 Obligations under leases and bire purchase contracts Operaling lease commitments Total future minimum lease payments under non-cancellable operating leases are as follows: 2025 2024 Land and buildings Within one year Between one and five years 14,000 26,833 Page 19
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 19 Funds Balance al April 2024 Incoming resources Resources expended Balance at 31 March 2025 Unrestricted funds Generol General fund 40,472 197.0)8 (219,798) 17,712 Olher Revaluation reserve 20.000 (5.000) 15,000 20.000 (5.000) 15,000 Tot21 unrestricted funds 60,472 197,OJ8 (?24,798} 32,712 Restricted funds Artist development programme Nottingham puppet festival BDI {University of Nottingham) Hoopla (SSBC) 6,395 51,491 21,400 i 0,000 {6,395) (51,491) (11,890) ( i 0,000) 1,325 13,860 20,835 13,860 Total restricted fund5 25,185 (79,776) Tot21 funds 149,758 2?2,22J (304.574) 67,407 The specific purposes for which the funds are to be applied are as follows: Artist development programme.. This 'aS funded by the Foyle Foundatlon and covers the following activities.. Elevate Young People's Training Programme: Young Pn)ducers Takeover. RESIDENC.E Community Panel Programme; RESIDENCE Artists Bursary Programme: Disability Summit Venue Perforniance Programme & Window Gallery Programme. Nottingham Puppet Festival.. Work slarted on this ACE Project Grant-funded collaboration with Theatre Royal & Royal Concert Hall, with delivery partners including Lakeside Arts. Broadway. Nottingham City Libraries and the Squire Perfomiing Arts Centre. Delivery of the main festival programme will take place in early 2024125. BDI.. This is a project in partnership with the University of Nottingham'5 Biodiscovery Institute which connects creative practice. life sciences research and grassroots community groups to further the public understanding of science and fight health inequalities. Hooplal Small Steps Big Changes {SSBC}: To support the delivery of mini-festivals for ages 04 and their families in Nottingham neighl)ourhoods ranked highly in the indices of multiple deprivalion. Page 20
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 Balance at 31 March 2024 Balance at I April 2023 Incoming resources Resourees expended Transfers Unrestricted fund5 General General fund 47.904 216.5J4 (26J,228) 40,472 Oiher Revaluation reserve 25,000 (5.000) 20,000 25,000 (5.000) 20,000 Total unrestricted funds 216.5)4 (268.228) 60,472 Restricted Artist development programme ArtPloyment My Voice My Place Nottingham puppet festival Poetry on the Go BDI (University of Nottingham) Hoopla (SSBC) Residence (Arts Council England) 29,000 (7,008) (44,462} (5, (17,429) (66,910) (15,597) (2,397) (1,347) (20,000) (4,82J) 6,395 8,978 6.700 88.920 51,491 (20,900} (9,007) 6,510 (1,85J) 21,400 10,000 10.000 10.860 2.967 2.491 (5.703) 245 Total restricted funds 93,678 211,fv12 (176,772) (J9,?62) 89,286 Total funds 166.582 428.176 (445,000) 149,758 Last year there were the following restricted funds: ARTployment (2021 2023).. Funding from Erasmus+ to deliver a creative skills and career development programme for young people from different countries. in collaboration with international partners, including both European and South American organisations. Poetry on the Go (POGO).. Funding frotn Erasmus+ to collaboratively develop a 5tnart phone app exploring and celebrating poetry from different cultures. working with international partner organisations and young people in their respective home countries. Residence Arts Council England Project Grant: To deliver a programme of artist development targeted at artlsts who are under-represented in the arts sector. My Voice My Place - This projea was in collaboration with Jigsaw homes and involved local residents in the creation of the film 'Carlton England,. Page21
City Arts (Nottingbam) Ltd Notes to the Financial Statements for the Year Ended 31 March 2025 20 Analysis of net a55ets between funds Unrestricted 2025 Total funds General Restrieled Tangible fjxed assets Current assets Current liabilities 15,000 15,000 (9.825) (2,825) Total net assets i4,695 67,407 Unrestricted 2024 Total funds General Reslrieled Tangible fixed assets Current assets 20,000 20,000 134,199 (4,441) 89,286 Current liabilities (4,441) Total net assets 60.47? 89,286 149,758 Page 22
Annual accounts 31 March 2025 report to the management committee
City Arts Nottingham 11-13 Hockley Nottingham NG1 1FH
Please reply to Grace Burch
11[th] November 2025
Dear Board Members,
We are pleased to supply final copies of your accounts for the period ending as above. Please either print a copy, sign and date in black ink, and return to us by post or, email a signed pdf back to your Accountant. You should already have received our invoice for the work. Once we have confirmed receipt of your payment, we will then sign and return the final accounts to you.
On completion of the work we have the following recommendation to make regarding the financial management of your organisation:
- All groups are reminded that the SORP requires groups to have a financial policy in place.
If you need further advice or explanations, please do not hesitate to contact us.
Finally, we would be most grateful if you could complete the enclosed monitoring and feedback form and return it to us, or complete the form electronically by clicking here
Yours faithfully,
Eva Stevens BSc CPFA
Community Accounting Plus Units 1 and 2 North West 41 Talbot Street Nottingham NG1 5GL
Tel: 0115 947 0839 Fax: 0115 958 8779 General email: caplus@capIus.org.uk Payroll email: payroll@capIus.org.uk www.caplus.org.uk
Community Accounting Plus is a registered Charitable Incorporated Organisation No 1080565 CA Plus gratefully acknowledges financial assistance from Nottinghamshire County Council
Community Accounting Plus
Monitoring & Feedback Form
It would greatly assist Community Accounting Plus both to monitor and improve its services if you would kindly complete this form and returning it by email to support@caplus.org.uk
Date Your name Your organisation name Name of CA Plus staff member you’ve been working with
Please circle below which CA Plus services you have used
| Accounts | Bookkeeping | Payroll | QuickBooks support |
Advice & training |
|---|---|---|---|---|
How would you rate the quality of work undertaken by us?
Excellent Good Neutral Poor N/a Completing work in a timely manner Responding to emails, calls & questions Quality of explanations or advice given Quality & accuracy of work completed
What one thing could we do to improve our services for you?
How likely are you to recommend us to a friend or colleague? Please circle below
0 1 2 3 4 5 6 7 8 9 10 Not at all likely Extremely likely Any other comments
Thank you