Registered number: 05280336
Charity number: 1108488
HMM ARTS LTD
UNAUDITED
TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
WR
Partners
Protecting your future.

HMM ARTS LTD
(A company limited by guarantee)
CONTENTS
Page
Reference and administrative details of the Companyg its Trustees and advisers
Chairman's statement
Trustees. report
Independent examine￿$ report
Statement of financial activities
4-11
12-13
14
Balance sheet
15-16
Notes to the financial statements
17-33

HMM ARTS LTD
{A company limited by guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 MARCH 2024
Trustees
H Ball. Chair
N J Green
M J W Griffiths
J Lloyd-jones, Chair (resigned 11 April 2023)
H O'connor
PMWPack
G J Partridge {appoinled 4 May 2023)
E L Richards {resigned 21 September 2023)
N Slawson
J H Thomas
O Voropai (appointed 26 September 2023)
T J Hunt (appointed g September 20241
L Jones (appointed 4 April 2024)
Dr K M Miller {appointed 9 September 2024)
K L Worrow (appointed 7 May 20241
Company registered
number
05280336
Charity registered
number
1108488
Registered office
5 Belmont
Shrewsbury
Shropshire
SY1 1TE
Chief executive officer
Slephanie Kale Jennings
Accountants
VVR Partners
Chartered Accountants
Belmont House
Shrewsbury Busin8ss Park
Shrewsbury
Shropshire
SY2 6LG
Bankers
CafBank Limited
PO Box 289
West Malling
Kent
ME194TA
Solicltors
Hatchers
25 Castle Street
Shrewsbury
Shropshire
SY1 1DA
Page 1

HMM ARTS LTD
(A company limited by guarantee)
CHAIR'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2024
The Chair presents her statement for the year.
HMM Arts Limited (more commonly known as The Hive} has operated from ils town centre base for almost 20
years and has become that safe. neutral space for young people lo develop their creative skills. The fact Ihat
over 48.000 young people have benefitted from the work of The Hive over thai period shows how valued a facility
it is to young people. their parents and carers and other like-minded stakeholders and organisalions in
developing the cultural offer for Shrewsbury, Shropshire and Telford & Wrekin.
Working in the voluntary cultural space is exceptionally challenging as local authorities have had to make lough
decisions on where their funds are allocated,. this in turn has placed huge demands on funders of the arts who
are seeing an even greater demand for their limited resources.
The Hive has found it more and more challenging to attract interest from the big national funders and despite
being told funding bids are worthy of support, they haven't met the threshold for financial support. This has
inevitably put strain on Ihe office team who support the activities of The Hive and ensure its continuation.
Notwithstanding that, there has been much to celebrate in the conclusions of some fantastic projects including
The Hidden Waterways Project which has produced some stunning legacy athork that will be enjoyed by many
who frequent Shropshire's canals and the Cultural Investigators Projects which has really expanded the skills,
competencies and confidence of all those young people who have taken part. The Parachute Project is
facililaling creative. musical activities for the under 5s and their parents. Young Shrewsbury has continued to
hold a very active weekly session and with Town Council Youth Workers has been able to point young people
into ways of making good life choice5.
Our Venue has been frequented by all walks of life from Film Groups to Architects; Musicians lo the Member of
Parliament and this has meant that more people than ever have walked through our doors and have experienced
first hand what there is to offer.
We have also started to look at ways we can expand our offer. Culture and Ihe Arts allows young people to
express themselves in wonderful ways and we have been able to offer some young people an alternative form of
curriculum working alongside their schools and support workers and their development whilst engaging with the
Hive has been refreshing to see.
Our long-term sustainability and security will be the focus of the Board and Senior Management and we remain
grateful to Shropshire Council in allowing us to use Ihe building in the most creative of ways.
All of this could not be possible without our dedicated team headed up by Chief Executive Officer Kate Jennings.
From the Venue Manager to Duly Managers, Project Managers & Adrninistrators lo Finance and Marketing
Officers all have engendered a collective welcoming. positive and Can-Do attitude to being part of the Hive
Family and their energy and resourcefulness is a credit to the organisalion.
Page 2

HMM ARTS LTD
IA company limited by guarantee)
CHAIR'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees too, charged with the strategic management and governance of the organisalion have actively
contributed to ensuring projects have met their outputs, resources have been spent in the most appropriate and
efficient way and have used Ihe skills they have to bring exceptional value lo the organisation.
We are also so grateful lo our Patrons. Charlie Adlard and Hattie Na￿Or, who have been hugely supportive of
our activities and have spread The Hive's message with such pride and commitment.
We look to the new financial year with our eyes wde open to the challenges we face. We know thal The Hive is
a much-loved facility as many oflhose young people we have helped over the years are returning to us as adults
wilh a desire lo put something back inlo making it a continuing success for generations to come.
H Ball
(Chair of Truslees)
Page 3

HMM ARTS LTD
(A company limited by guaranteel
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 MARCH 2024
The Trustees present their annual report logelher with the financial statements of the Company for the 1 April
2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees, report and a directors, report
under company law. The Trustees confirm that the Annual report and financial statements of the charitable
company comply with the current statutory requirements, the requirements of the charitable company's
governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland {FRS1021 (effective 1 January 20191.
Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report
required of medium and large companies under the Companies Act 2006 (strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
Our Purpose
The Charitable Company's purposes are set out in the objects contained in the Memorandum and Articles of
Association are:
'to advance education in the arts by the establishment and maintenance of an arts centre for the benefit of
children and young people."
Our Vision
HMM Arts Limited's vision is- Thriving creative communities.
Our Mission
The Hive provides a safe path to personal and community growth. Our projecls and events transform lives
through inspiring. inclusive, creative experTences primarily in Shropshire. Telford & Wrekin and beyond.
Our Strategic Priorities
To pioneer high quality creative activities
To showcase the impact of Greativity to health and wellbeing
To create an inspiring. safe, and effective organisalion.
Our Values
Our working culture is led by the followin9 values:
Non-judgmental- we focus on the potential and opportunity, with an open mind and focus on diversily
Community-centered- we focus on nurturing belonging
Collaborative - we focus on sharing and being stronger together
Advenlurous- we focus on leaming. experimenting, and challenging ourselves to do new things
Empowering- we enable meaningful, positive change
Page 4

HMM ARTS LTD
(A company Ilmited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities Icontinuedl
Key Growth & Developrnent Atms
Aim 1.. More People- Reaching more and new people and working in new ways wilh them
Aim 2.. More Stability- maintain and increase financial stability and surplus
Aim 3: More Profile - recognised and widely known as a reliable, exciting innovative place to work with Young
People
Our Objectives
The objectives of Ihe Charity as defined in Ihe current business plan are:
Artistic Programming- More people have access lo high quality arts experiences, especially children.
young people. and young adults
Learning, participation. and engagement- More people can develop their skills, knowledge. and creative
talent, especially children. young people and young adults, and vulnerable and marginalized
communities
Evaluation and Research- The positive impacl of cieative activity in changing people's lives and
especially children, young people, and young adults, can be articulated
Communications and Marketing - More people know about the high-qualily arts and creative experiences
available to them, enabling them to access these as either audience members or participanls, especially
children. young people. and young adults
Capacity and Finance- By increasing its own organisational capacity and financial position, the Charity
is reaching more audiences and beneficiaries. whilst also making a positive contribution to the creative
sector
Advocacy and Partnershipworking- Creation of new partnerships which will help the Charily to improve
its delivery and performance, as well as contribute to the overall development of the creative sector.
More people can access creative activities and are able to access creative activities and are able to
express themselves regardless of their life situation. health, financial sltuation, gender, age, or any other
defining aspect
Page 5

HMM ARTS LTD
(A company Ilmited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectives and activities {continued)
b. Strategies for achieving objectives
The Charity seeks to achieve these objectives through activities that include:
Projects focusing on delivering social impact through creative and arts activity
Providing opportunities for skills development and education through creative activity
Artistic programming and audience development
Providing creative facililies and outreach opportunities
Partnership working and seclor development
The Trustees review the aims, objectives, and adivities of the Charity each year. This report looks at what the
Charity has achieved and the outcomes of its work in the reporting period. The Trustees reporl the success of
each key activity and the benefits the Charity has brought to those groups of people it is set up lo help. The
review also helps the Trustees to ensure that the Charitys aims, objectives, and activities remained focused on
its slated purpose.
The remainder of the annual report covers the activities in more detail.
Arts Council England {Project Grants,. Cultural Investigators, and Supporting Grassroots Music,. Hive Young
Programmers,)
Children In Need (Parachutes and Booster Grant)
National Lottery Heritage Fund IHidden Walerwaysl
Shrewsbury BID (Summer Activities Fund- Street Festival)
Shropshire Council Virtual School (Looked After Children's Bandbuild projects. Shining Stars)
Shropshire Council (Arts Fund and HAF Grant)
Shrewsbury Town Council (Community Grant and Local Councillorfs Grant)
The National Lottery Herilage Fund (Hidden Waterways}
The National Lottery Community Fund {MYCollege)
In selling objectives and planning for activities, the Trustees have given due consideration lo general guidance
published by the Charity Commission relating to public benefit, including the guidance 'Public benefit-. running a
charity (P821'.
Page 6

HMM ARTS LTD
IA company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Achievements and performance
a. Main achievements of the Company
Following the Covid19 pandemic prompting a move to online delivery for a large proportion of our projects.
The Hive has moved back to in-person delivery of our projects, both in-house at our venue, and outreach in other
venues. We have been encouraged by the support of our audiences, and in this period the interesl in both
audience attendance and room hire has increased to and at times, surpassed pr&pandemic levels.
Successfully delivering creative projects across a range of art forms to the benefit of children, young
people and young adults from challenging circumstances including young carers, looked after children, young
people wth mental health issues. NEETS, those at risk of offending. young adult asylum seekers, LGBTQ+
young people, and rurally isolated young people. These projects were delivered in partnership with Shropshire
Council, Shrewsbury Town Council, Telford & Wrekin Council. New Reftections. Telford Young Carers,
Shropshire Virtual Schools. Shrewsbury Colleges Group, Shropshire Autism Hub. Shrewsbury University Centre,
Shropshire PACC. The Children's Society. Telford College, Beltws Lifehouse. and Shropshire Youth Association.
among others.ln addition to this the Charity has also provided non grant funded services to organisations
working with vulnerable groups, especially children, young people, and young adults.
Support from Shropshire Council Arts continued within this period, providing funding for the Our
Footprinls, Our Lives, Our Dealhs project, in partnership with homeless people from across Shrewsbury and
surrounding areas through The Ark, another local charity. The project explored the invisible and unheard stories
from the homeless- working with professional artists people experiencing homelessness worked creatively to
explore their thoughts ar)d views around death and dying to develop artwork with poetry.
Arts Council England - our Cultural Investigators project gained momentum during this period. bringing in
numerous project partner organisations and linking with cohorts of young people and individuals who have
attended activities al The Hive and have gone on to have successful careers in the creative industries.
All projects have included opportunities for skills development and learning. which ensures the staff team
and creative workforce keep their training up-to-date and have the opportunity to share best practice with their
peers.
Developing the vision and mission. The Board and staff team continued to revisit our vision. rni5sion, and
strategic aims from the 2021-2024 business plan. The CEO is applying for funds to contracl an experienced arts
consullant and coach to work on the next business plan. and also to facilitate sessions with the team and Board.
to guide through stages of reviewing the new business plan and help with tracking progress.
Developing The Hive'5 Trustee Board. In looking to replace these board members the CEO and Board
Chair have discussed skills that were felt to be needed to compliment the current board members and help
develop the charily. Recruitment during the Covid pandemic was challenging, but successful. The organisation is
working towards recruitment of a young Board member and ensuring our governance is more representalive of a
contemporary United Kingdom in relation lo disability, race, and SOCiOweconomic background.
Over Ihe reporting period we provided numerous opportunities at the Hive for children and young people,
including holiday artlcraft, filmmaking. and musicmaking workshops, and Buzzy Beats,. our weekly musicmaking
session for under 5s.
In this period, The Hive continued to employ a young person as Venue and Projects Assistant who
originally joined The Hive as an Intem through th8 DWP Kickstarter initiative.
Page 7

HMM ARTS LTD
IA company limitsd by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Financial review
. Going Concern
After making appropriate enquiries, the Trustees have a reasonable expectation thal the Company has adequate
resources to continue in operational existence for the foreseeable future. For this reason. they continue to adopt
the going concern basis in preparing the financial statements. Further details regarding the adoption of the going
concern basis can be found in the accounting policies.
b. Reserves policy
The income of the charity is divided into designated, restricted. and general (unrestricted) funds in accordance
with charity legislation. The restricted fund represents money given to the organisation for specific project or
slrategic work.
The Trustees. policy in respect of the monies held in the General fund is influenced by..
forecast of levels of income in the ensuing year.
forecast for expenditure in the ensuing year based on planned activity- and
an analysis of any future needs. opportunilies, contingencies and risks. the effects of which are not likely
to be met from planned expenditure.
The Statement of Financial Activities shows that the lotal funds of the charity have decreased during the year
due to a net loss of £58,099, bringing total reserves to £77.485 {2023'. £135.584)-
The charity aims to hold enough free reserves to cover 3-6 months, worth of average expenditure. The free
reserves are the unrestricted funds less any unrestricted fixed assets and any designated funds. At the end of
the year the free reserves stood at £1,03212023.' 28,7441.
Structure, governance and management
Constitution
HMM Arts Ltd is registered as a charitable company limited by guarantee and was set up by a Memorandum of
Association dated 8 November 2004 and as amended by a resolution on 6 May 2008.
It is registered as a charity with the Charity Cornmission. Each of the Trustees of the company agree to
contribute £10 in the event of the charity winding up.
The Board of Trustees meet on a regular basis. The Trustees delegate the day lo day running of the company lo
the Chief Executive Officer.
Page 8

HMM ARTS LTD
IA company limlted by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Structure, governance and rnanagement (continued)
b. Methods of appolntment or election of Trustees
Members of the Board are elected at Board meelings. The Board has authority lo fill vacancies arising during the
year.
New Board Mernbers are recruited through either an open process. advertised throughout the region, or
nominated by partner organisalions. Potential recruits are inteNiewed by existing Board Members, and if
successful, are elected to the Board at the next General Meeting although they can be co opted to the Board
until then.
New Board Members will undergo a forrnal induction process and will be supported through the first few months
of membership.
Organlsatlonal structure and decision-making pollcles
The Board of Trustees administers the charity. The Board holds bi monthly Board meetings throughout the year.
There is a Finance Subcommittee comprising of Chief Executive, Management Accountant and two Board
members, which meets ahead of every Board meeting and reports to the Board.
Financial procedures have been established and approved by the Board. They are intended to set out the
working arrangements by which the Board gives effect lo its statutory financial responsibilities. and to its
management powers as defined in the Articles of Association.
The Chief Executive is responsible to the Board for the proper administration of the Cornpany's financial affairs.
HMM Arts Ltd is a member of the National Council for Volunlary Organisations. with which it cooperates in the
pursuit of its charitable objectives.
d. Financial risk management
The Board reviews and assesses the risks to which the organisalion is exposed at each Board Meeting. The
Trustees ensure that the management of risk in ongoing and embedded in management operational procedures.
Risk assessment and management is undertaken under Ihe following areas..
Governance
Operational
External Factors
Financial
Compliance
Staffing and other human resources
Environmental
The Trustees are satisfied that systems and procedures are in place to manage the exposure to these risks.
Page 9

HMM ARTS LTD
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Plans for future periods
We will continue to deliver on our core oulcomes..
To feel positive and more confident
To feel confident in being who they are
To value working with others
To build resilience
We will further develop our business plan, including fundraising, strategic development, and programme
development.
We will continue to work and develop programmes of activity wilh partners in Shropshire, Telford &
Wrekin, and the wider region.
We will be at the forefront of discussions and negotialions around commissioned Se￿ICe$ and will develop
slralegies to ensure that we can continue & develop our delivery to beneficiaries, as well as identify new
ways of working.
We will continue lo strengthen our connections with the local communities surrounding The Hive in
Shrewsbury and Shropshire, embedding the work of the Charity and its base firmly within the community
as an active and welcoming hub for the community-
We will be represented on the Vibrant Shropshire Cultural Compact Board by the CEO.
We will deliver Vibrant Shropshire, the countls cultural strategy. to help ensure that culture thrives in
Shropshire and enhances the county's health, wellbeing, resilience, economic prosperity. and
environmental sustainability.
We will further develop and embed our fundraising strategy in line with our business objectives as well as
the additional support from Trustees. We will also continue to upskill our Trustees and Staff in fundraising
skills lo enable the organisation lo develop new income streams and increase our success rate with
fundraising from trusts & foundalions.
We will explore new avenues for helping young people who are experiencing challenges engaging in
mainstream education. such as developing bespoke creative wellbeing programmes in alternative
provision.
We will work in partnership with Music Education Hubs in the region.
We will further develop our partnership working with existing partners. as well as creating new
partnerships, especially with agencies and charities working with children and young people. high quality
arts organisalions, commissioners, local businesses, and those working with children & young people.
We will consolidate our position as a project delivery provider of Youth Music activity across Shropshire
and the region. We will work with our partners to ensure that children, young people, and young adults are
able to access music activity across the county- particularly those who are vulnerable or at risk- working
to principles of pedagogy in the delivery of music programmes.
We will continue to work wth funders such as Arts Council England and The National Lottery lo support
ongoing development of our team and projects, enabling us to engage new project partners and
participant groups,. to bring high quality arts to the region, our venue and to our beneficiaries.
We will further develop opportunities for children, young people, and young adults to develop their skills
Page 10

HMM ARTS LTD
(A company limited by guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Plans for future periods (continued)
and knowledge through creative activlly, as well as provide opportunities to develop these skills even
further through volunteering. internship, and work experience opportunities.
We will continuously evaluate our activities using The Hive's Evaluation Framework, as well as consult our
beneficiaries. participants. and audiences to ensure that we are meeting their needs and can create an
evidence base to support our work.
For all our creative activity, the charity will continue to work to specific aims built around 5 dimensions of
empowemient, which consider both the individual and the collective.
Statement of Trustees. responsibilitles
The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for
preparing the Trustees, report and the financial slatements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the
Trustees must not approve the financial slatements unless they are satisfied that they give a true and fair view of
the state of affairs of the Company and of its incoming resources and application of resources. including its
income and expenditure, for that period. In preparing these financial statements, the Trustees are required lo..
select suitable accounting policies and then apply Ihem consistently-
observe the methods and principles of the Charities SORP {FRS 102)..
make judgments and accounting estimales that are reasonable and prudent.,
slate whether applicable UK Accounting Standards (FRS 102) have been followed. subject to any material
departures disclosed and explained in the financial statemenls-
prepare the financial statements on the going concem basis unless it is inappropriate to presume that the
Companywll continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Companls transactions and disclose with reasonable accuracy at any time the financial position of the
Company and enable them to ensure that Ihe financial slalements comply wilh the Companies Act 2006. They
are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Approve¢J by order of the members of the board of Trustees and signed on their behalf by.
H Ball
(Chair of Trustees)
Date=
qliilz
Page11

HMM ARTS LTD
{A company limited by guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 MARCH 2024
Independent examinefs report to the Trustees of HMM Arts Ltd ('the Company,)
I report to the charity Trustees on my examination of Ihe accounts of the Company for the year ended 31 March
2024.
Responslbllltles and basis of report
As the Trustees of the Company (and 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 20061'the 2006 Act,).
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of Ihe
2006 Act and are eligible for independent examination. I report in respect of my examination of the CoMpan￿S
accounts carried out under section 145 of the Charities Act 2011 I'the 2011 Act'l. In carrying out my examination
I have followed the Directions given by the Charity Commission under section 145{5){b) of the 2011 Act.
Page 12

HMM ARTS LTD
{A company limited by guarantee}
INDEPENDENT EXAMINER'S REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Independent examinerfs statement
Since the Companvs gross incorne exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Act. I confirm that l am qualrfied lo undertake the examination because l am a member
of ACCA. which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with Ihe
examination giving me cause to believe=
accounling records were not kept in respect of the Company as required by section 386 of the 2006 Act.,
or
the accounts do not accord with those records- or
the accounts do not comply with the accounling requirements of section 396 of the 2006 Act other than
any requirement that the accounts give a 'lrue and fair, view which is not a matter considered as part of
an independent examination. or
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 wilh the examination lo which
attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Companls Trustees. as a body, in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Companvs
Trustees those matters l am required to stale to Ihem in an Independent examiner's report and for no other
purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the
Company and the Companws Trustees as a body. for my work or for this report.
Signed:
Dated.. 1111212024
T Lunt
BA FCCA MTPI
WR Partners
Chartered Accountants
Belmonl House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG
Page 13

HMM ARTS LTD
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 MARCH 2024
Restricted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
55,989
156,302
22,103
78,092
156,302
78,035
639
26,806
144,408
84,083
277
78,035
639
Total Income
212,291
100,777
313,068
255,574
Expenditure on:
Raising funds
Charitable activities
21.549
110,204
21,549
349,618
16,225
310,443
239,414
Total expenditure
239,414
131,753
371,167
326,668
Net movement in funds
(27.123)
(30,976)
(58.099)
(71.094J
Reconclliatlon of funds:
Total funds brought forward
Net movement in funds
89,279
127,123)
46,305
130,976)
135.584
(58,099)
206,678
(77,094)
Total funds carried forward
62.156
15,329
77,485
135.584
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on page5 17 to 33 form part of these financial statements.
Page 14

HMM ARTS LTD
(A company limited by guarantee)
REGISTERED NUMBER: 05280336
BALANCE SHEET
AS AT 31 MARCH 2024
2024
2023
Note
Fixed assets
Tangible assets
13
25,952
31,225
25,952
31,225
Current assets
stocks
14
15
1,637
13.606
69,224
1,590
31.995
86, 769
Debtors
Cash at bank and in hand
84,467
120,354
Creditors.. amounls falling due within one
year
16
(32,934)
(15,995J
Net current assets
51,533
104,359
Total assets less current Ilabilities
77.485
135, 584
Total not assets
77,485
135,584
Page 15

HMM ARTS LTD
(A company Ilmited by guarantee}
REGISTERED NUMBER: 05280336
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
2024
2023
Note
Charity funds
Restricted funds
Unrestricted funds
17
62.156
15,329
89,279
46,305
17
Total funds
77,485
135,584
The Company was entitled to exemption from audil under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complwng with the requirements of the Act with respect to
accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to
the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
H Ball
(Chair of Trustees)
The notes on pages 17 to 33 form part of these financial statements.
Page 16

HMM ARTS LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
General information
HMM Arts Limited is a company limited by guarantee governed by its Memorandum and Articles of
Association dated 8 November 2004 and as amended by a resolution on 6 May 2008 and incorporated in
England and Wales.
It is registered as a charity wth the Charity Commission. Each of the Trustees of the company agree lo
conlribute £10 in the event of the charity winding up.
Accounting policies
2.1 Basls of preparatlon of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 1021
Accounting and Reporting by Charities= Slatement of Recommended Practi￿ applicable to charities
preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK
and Republic of Ireland IFRS 102) (effective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006.
HMM Arts Lld meets the definition of a public benefit entity under FRS 102. Assets and liabilities are
inib'ally recognised at historical cost or transaction value unless olheTwise staled in the relevant
accounting policy.
2.2 Going concern
After making enquires. the Tnjstees have a reasonable expectation that the Charity has adequate
resources to continue in operational existence for the foreseeable future. The Charity therefore
continues to adopt the going concern basis in preparing its financial statements.
2.3 Income
All income is recognised once the Company has entiuement to the income. it is probable that the
Income will be received and the amount ot income receivable can be measured reliably.
Income tax recoverable in relation to investment income is recognised at the time the investment
income is receivable.
Page 17

HMM ARTS LTD
(A company Ilmited by guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounling policies (continued)
2.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of economic benefits will be required in settlement and
the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up of the total of direct costs and shared costs, including support costs
involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly
to that activity- Shared costs which conlfibute to more than one activity and support costs which are
not attributable to a single activity are apportioned between those activities on a basis consistent with
the use of resources. Cenlral slaff costs are allocated on the basis of time spent. and depreciation
charges allocated on the portion of the asset's use.
Expenditure on raising funds includes all expenditure incurred by the Company to raise funds for its
charitable purposes and includes costs of all fundraising activities events and non-charitable trading.
Expenditure on charitable activities is incurred on direcly undertaking the activities which further the
Companvs objectives. as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
2.5 Government grants
Government granls are recognised in the Statement of Financial activity on receipt and enttlemenl to
the funds. The governmenl grant income is allocated to the appropriate fund on receipt.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Company. this 15 normally upon notification of the interest paid or payable by the
institution with whom the funds are deposited.
2.7 Tangible fixed assets and depreclatlon
Tangible fixed assets costing £100 or more are capitalised and recognised when future economi
benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition. under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impairment
losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value
over their estimated useful lives,
Deprecialion is provided on the following bases=
Plant and machinery
Office equipment
10 years straight line
25Q/o reducing balance
Page 18

HMM ARTS LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.8 Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost includes all direcl costs and an appropriate proportion of fixed
and variable overheads.
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amounl prepaid net of any trade discounts due.
2.10 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity
of three months or less from the date of acquisition or opening of the deposit or similar account.
2.11 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
Liabilities are recognised at the amount thal the Company anticipates it will pay to settle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required lo settle the obligation. Where
the effect of the time value of money is material. the provision is based on the present value of those
amounts. discounted at the pre-tax discount rate that reflects the risks specific to the liabilily. The
unwinding of the discount is recognised in the Statemenl of financial activities as a finance cost.
2.12 Financlal Instrumenls
The Company only has financial assels and financial liabilities of a kind that qualify as basic financial
instruments. Basic financial instruments are initially recognised al transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amorti5ed cosl using the effective interest method.
2.13 Operating leases
Renlals paid under operating leases are charged to the Statement of financial activities on a straight-
line basis over the lease term.
2.14 Pensions
The Company operates a defined contribution pension scheme and the pension charge represents
the amounts payable bylhe Company to the fund in respect of the year.
Page 19

HMM ARTS LTD
(A company Ilmlted by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Accounting policies (continued)
2.15 Fund accounting
General funds are unrestricted funds which are available for use al Ihe discretion of the Tnjstees in
furtherance of the general objectives of the Company and which have not been designated for other
purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by
donors or which have been raised by the Company for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is sel out in the notes to the financial slatements.
Investment income. gains and losses are allocated to the appropriate fund.
Income from donatlons and legacies
Restricted Unrestrlcted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Donations
55.989
22.103
78.092
26,806
Total 2023
13,364
t3,442
26,806
Income from charitable activities
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Fees and grants
Govemment grants
145,050
11,252
145,050
11,252
104,576
39.832
156,302
156.302
144,408
Total 2023
144,408
144.408
Governmenl grants for Ihe year include grants forrn Arts Council England, Shropshire Council.
Shrewsbury Town Council and Church Slretton Town Council.
Page 20

HMM ARTS LTD
(A company limited by guaranteo)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Income from other trading activities
Income from fundraising events
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Cafe income
Ticket income
Gift aid
19.859
14,091
3,421
34.208
6,456
19,859
14,091
3,421
34,208
6,456
16,075
15,955
3,200
45.398
3,455
Room hire
Other income
78.035
78,035
84.083
Tolal 2023
84,083
84,083
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Investment income- interest
639
639
277
Tolal 2023
277
277
Page 21

HMM ARTS LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Expenditure on raising funds
Costs of ralslng voluntary income
Unrestricted
funds
2024
Total
funds
2024
Total
fvnds
2023
Cafe expenditure
Fundraising expenditure
10.801
10,748
10,801
10,748
9,386
6,839
21,549
21,549
16,225
Tolal 2023
16,225
16,225
Analysis of expenditure on charitable activities
Summary by fund type
Restricted Unrestricted
funds
funds
2024
2024
Total
2024
Total
2023
Governance
Other
10.719
99.485
10,719
338,899
10,731
299,712
239.414
239,414
110.204
349,618
310,443
Total 2023
193,333
117,110
310,443
Page 22

HMM ARTS LTD
IA company limited by guarantee>
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Support
costs
Total
funds
2024
Total
funds
2023
2024
Governance
Other
10,719
74,036
10,719
338,899
10,731
299,712
264.863
264,863
84,755
349.618
310,443
Tolal 2023
236,230
74,213
310,443
Analysis of direct costs
Total
funds
2024
Total
funds
2023
other
2024
Staff costs
Artist fees
Other direct costs
130.186
102,203
15,812
16.612
50
130,186
102,203
15.812
16,612
50
125,421
72,516
19.411
18,882
Marketing & advertising
Consultancy fees
264.863
264,863
236,230
Total 2023
236,230
236,230
Page 23

HMM ARTS LTD
(A company limited by guarantee>
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
Analysis of expenditure by activities {continuedl
Analysls of support costs
Total
funds
2024
Total
funds
2023
Governance
Other
2024
2024
Depreciation
Administration costs
Training & development
Evaluation costs
8,108
204
8,108
204
414
695
8,941
2,450
316
3,565
1,320
4,701
25,619
1.084
8,295
50
400
414
695
1,465
4,290
40,663
1,600
11.083
48
Artist fees
1,465
4.290
40,663
1,600
11.083
48
Computer & equipment costs
Premises costs
Printing, postage and stationery
Telephone
Travel & subsistence
Consultancy fees
Bank charges
Loss on disposal of fixed assets
Insurance
Subscriptions
Govemance costs
1.850
1.850
1.884
1.589
1,637
1.631
10.731
1,767
1,849
1,767
1.849
10,719
10,719
10,719
74,036
84,755
74.213
Total 2023
10,731
63,482
74,213
10.
Independenl examinerfs remuneration
The independent examinerfs remuneration 2mounts to an independent examiner fee of £800 (2023
- £760), and accounts preparation of £1,575 {2023 - £2,520).
Page 24

HMM ARTS LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
11. staff costs
2024
2023
Wages and salaries
Social security costs
Contribution to defined contribution pension schernes
125,919
2.158
2,109
121.250
2,453
1.718
130,186
125,421
The average number of persons employed by Ihe Company during the year was as follows:
2024
2023
No.
Employees
15
12
No employee received remuneration amounting to more than £60.000 in either year.
The Chief Officer that served in the year received total remuneration of £30.47812023- £28,167)
12. Trustees. remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2023 - £NIL). The prior year
remuneration was paid to K Cody for cover of the maternity of the Chief Officer.
During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).
Page 25

HMM ARTS LTD
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
13.
Tangible fixed assets
Plant and
machinery
Office
equlpment
Total
Cost or valuation
At 1 April 2023
Additions
23,539
103,583
2,835
127,122
2,835
Al 31 March 2024
23.539
106,418
129,957
Depreciation
At 1 April 2023
Charge for the year
10,680
2,354
85,217
5.754
95,897
8,108
At 31 March 2024
13.034
90,971
104,005
Net book value
At 31 March 2024
10,505
15,447
25.952
At 31 March 2023
12,859
18,366
31.225
14. Stocks
2024
2023
Finished goods and goods for resale
1.637
1,590
15. Debtors
2024
2023
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income
5,761
7,126
719
25,440
4,135
2,420
13,606
31,995
Page 26

HMM ARTS LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
16.
Creditors: Amounts falling due within one year
2024
2023
Trade creditors
Other creditors
Accruals and deferred income
19,419
2.641
10,874
2,7T5
3,656
9,564
32,934
15,995
Page 27

HMM ARTS LTD
(A company limited by guaranteo)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds
Statement of funds- current year
Balance at
31 March
2024
Balance at 1
April 2023
Income Expenditure
Unrestrlcted funds
General Funds - all funds
46,305
100,777
1131,753)
15,329
Restrlcted funds
Arts Council England - Hive Young
Programmers & Cultural Investigators
Shropshire Council - HAF Summer Activities,
LAC Holiday Band Builds and other smaller
SCC funds
National Lottery Community Fund- MYC
Music & Mycollege
Children in Need - Parachutes
Youth Music Foundation- Shining Stars
National Lottery Heritage Fund
Shrewsbury Town Council
Out of the Groove
LGBT History Festival
Flaxmill Street Art & Collective
The Childrens Society
High Sheriff s Fund
Care Leavers Mural
utley Family
Austin & Hope Pilkington Trust
Other Restricted Grants
24,703
55.936
161,572)
19,067
12,975
41,611
{34.6961
19.890
5,651
10
12,087
15,695
56,933
19,314
5,061
7.590
1,500
7,684
4.090
5,278
2,269
1,250
1.100
1,000
1,000
675
(49,8131
{9.879)
(17,1481
(23,285)
(1,355)
{5.115)
(2,600)
(3,963)
(2,269)
1640)
(1,100)
(250)
(1.000)
{6751
(9,5981
17,6741
15,5111
11,271)
12,771
9,445
145
2,569
1,490
1,315
610
750
St James Place Foundation
National Lottery Awards for all
UKSPF
PACC Healthy Lives
9,598
8,560
886
(5,5111
(1,271)
89.279
212,291
1239.414)
62.156
Total of funds
335,584
313,068
{371,167)
77.485
Page 28

HMM ARTS LTD
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds (continued)
Restricted funds include:
Arts Council England.. Hive Young Programmers
The Young Programmers project is aimed at engaging young people, primarily young women., notoriously
under-represented in the music industry, in professional elements of concert promotion, with a focus on
developing skills and experience in high-quality artistic programming, sound engineering. marketing and
promotion for small-lo-medium sized venues. Experienced professionals in the industry are delivering a
series of mentoring, one to one coaching sessions and round table discussions around the subject,
ulminating in participants producing their own series of live music shows. with ongoing support from their
mentors and The Hive.
Arts Council England: Cultural Investigators
This project recognises creative talent. revealing the range of stories that spring from this community-
facing cultural venue in the centre of Shrewsbury. The project identifies and celebrates The Hive's value,
to local people past, present and future, and offers young people opportunities to investigate and
creatively represent cultural herilage, inspiring them to engage wth culture in their own fLrtures.
Children In Need= Parachutes
This project for under 5s and their parents. guardians and carers aimed to increase learning and
development of young children in Harlescott. Shrewsbury. Funded by Children in Need, the 3-year project
encourages inleraction be￿een parentslcarers and their children, building connections and a sense of
community. The Hive was successful in securing a second 3-year grant from Children In Need for the
Parachutes project lo continue and develop in this period.
Shropshire Council= HAF Surnmer Activities
Shropshire Council Arts HAF (Holiday Activities and Food) Grant supported The Hive's provision of HAF
summer school holiday enrichment activities for existing groups participating in the HAF programme.
Creative activities included drumming. poetry. creative writing, and music making.
Shropshire Council Looked After Children's Team: Holiday Band Builds
Funded by Shropshire Council Virtual School to provide song-wrtting and band-building workshops and
performance opportunities for Looked After Children (ages 12-15) lo enhance and develop musicianship
and ￿Cording skills. The band-build projects take place during school holidays.
The National Lottery Community Fund: MYC Music
This project for young adulls aged 16 - 30 experiencing loneliness and social isolation. is taking place
over 3 years across Shropshire Telford & Wrekin.
Funded by National Lottery Community Fund. the MYC Music project aims to be increasingly inclusive to
those experiencing loneliness by signposting from Current partners. drawing in new partners and broader
marketing to increase informal referral. whilst being in a position to offer low level support.
Participants develop their rnusical skills whilst also gaining confidence. self-esteern. and a sense of
agency. expressing themselves through song-writing. and regularly celebrating their achievements
through performances and recordings of their work. Frorn March 2020 MYC Music had lo adapt to online
project delivery due lo the pandemic and closure of The Hive's venue, the social hub where MYC Music
groups met each week for creative sessions.
The Nalional Lottery Community Fund.. MYC Music
This project for young adults aged 16 - 30 experiencing loneliness and social isolation, is tsking place
over 3 years across Shropshire Telford & Wrekin.
Funded by National Lottery Cornmunity Fund, the MYC Music project aims to be increasingly inclusive lo
those experiencing loneliness by signposting from Gurrent partners. drawing in new partners and broader
marketing to increase informal referral, whilst being in a position to offer low level support.
Page 29

HMM ARTS LTD
IA company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statement of funds (continued)
Participants develop their musical skills whilst also gaining confidence, self-esteern, and a sense of
agency. expressing Ihemselves through song-wriling, and regularly celebrating their achievements
through performances and recordings of their work. From March 2020 MYC Music had to adapt to online
project delivery due to the pandemic and closure of The Hive's venue. the social hub where MYC Music
groups met each week for creative sessions.
The National Lottery Community Fund.. Mycollege
Five-year project Mycollege provides the infrastructure which pulls together all The Hive's charily-
focused creative work with 16 - 30-year-olds. Mycollege nurtures creative expression. talent. and ability
through bespoke programmes for young adults facing complex issues and experiencing low confidence.
Offering film, visual arts, music. pottery, creative writing. and more: enabling young adults to fulfil their
potential by working to address issues affecting confidence, resilience and progression at the earliest
possible opportunity: bringing people together with similar and comparable experiences, building Strong
relationships in and across age ranges amongst people who might olherwise never have met: and
improving the experience of the places and spaces that matter to the young adults The Hive works with.
The National Lottery Herilage Fund: Hidden Waterways
This intergeneratiorjal project has a focus on heritage and community engagement
bringing
communities together to focus on gathering stories. taking part in workshops. taking drone footage. and
developing creative resources on the Shrewsbury and Newport Canal. The project will concentrate on
engagement with the slretch from The Flaxmill in Shrewsbury to Berwick Wharf near Uffinglon which is
urrenlly being restored.
Project partners are Virtual Shropshire. Shrewsbury and Newport Canals Trust and Friends of the
Flaxmill Mallings. Activities will include creative programmes, art exhibilions. community days, a ceramics
trail. and public events.
Youth Music and Shropshire Council Virtual Schools: Shining Stars
This radio and podcast project aims to increase the effecliveness of the Care Council Crew lo advocate
for Looked After Children in Shropshire, ages 12-15 years.
Young people are developing iheir communication and presentation skills, increasing in confidence,
making new friends. and developing their understanding of different musical genres.
Shrewsbury Town Council
Councillor's Grant and Local Community Fund these small grants helped to fund larger projects
including Mycollege, Young Programmers. and Shining Stars activily which all required malch-funding to
ensure the projects delivered their full creative programme.
Oul OfThe Groove
This project introduced music to a youth group in a positive and engaging way, as a progressive,
enjoyable. and beneficial activity for young adults aged 15 25 with additional needs who live in North
Shrewsbury.
Flax Collective
A project inviting young people to help make Shrewsbury Flaxmill Maltings a more inviting and accessible
space for young people and explore heritage lo see how exciting it can be. The Flax Collective was a
safe and supportive monthly group for 18-25-year-olds. We invited fresh, bold and brave ideas with the
airn to help get more young visitors through the doors of The Flaxmill Maltings., they designed events, gol
creative with the spaces and helped young people lo gain skills to assist with their education or career.
UKSPF.. Vital Hive
The Hive had a positive result on our application for UKSPF (Levelling Up) funds through Shropshire
Council to deliver on a number of social and emotional outcomes with young people in Shropshire. The
Pag8 30

HMM ARTS LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
17. Statemant of funds (continued)
programme. starting from March 2024 covers
The Hive's Street Feslival 2024, 8 project to reduce
antisocial behaviour in Shrewsbury, youth engagement gigs. workshops, and events, and a programme
of creative workshops in partnership with Shropshire Supports Refugees.
Statement of funds - prlor year
Balance al
31 March
2023
Balance al
1 April 2022
Income Expenditure
Unrestricted funds
General Funds - all funds
81.838
97.802
(133.335)
46,305
Restricted funds
Arts Council England- Hive Young Programmers
& Cultural Investigators
Shropshire Council - HAF Summer Activities. LAC
Holiday Band Builds and other smaller SCC funds
National Lottery Community Fund - MYC Music &
Mycollege
Children in Need - Parachutes
Youth Music Foundation - Shining Stars
National Lottery Heritage Fund
Shrewsbury Town Council
Out of the Groove
48,405
1, 708
(25,410)
24,703
12,548
21,443
(21,016)
12.975
31.743
8,476
55,152
(81,244)
(8.466)
(14,858)
(24,613)
(1.267)
(11, 750)
(703J
(295)
(2, 705)
(402)
(604)
5,651
io
26.945
30,360
12.087
15,695
9.948
1,267
9, 750
703
2,000
Flaxmill Street Art & Colleclive
High Sheriff s Fund
Austin & Hope Pilkington Trust
St James Place Foundation
National Lottery Awards for all
295
1. 705
1,000
10,000
9,164
9,598
8,560
124,840
157, 772 (193,333)
89,279
Total of funds
206.678
255,574
(326, 668)
135.584
Page 31

HMM ARTS LTD
(A company Ilmited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
18. Analysis of net assets between funds
Analysis of net assets between funds - current period
Restrl¢ted Unrestricted
funds
funds
2024
2024
Total
funds
2024
Tangible fixed assets
Current assels
11.655
50,501
14,297
33,966
132,9341
25,952
84.467
(32.934)
Creditors due within one year
Total
62,156
15,329
77,485
Analysis of net assets between funds - prior period
Restricted Unrestricted
funds
funds
2023
2023
Total
funds
2023
Tangible fixed assets
Current assels
Creditors due within one year
13.664
75,615
17,561
44. 739
(15.995)
31,225
120,354
(75.995)
Total
89,279
46,305
135,584
19.
Penslon commltments
The charity operates a defined contribulion pension scheme. The assets of the scheme are held
separately from Ihose of the charity in an independently administered fund. The pension cost charge
represents contributions payable by the group to the fund and amounted lo £2.J0912023.' £1.718). There
were no contributions outstanding al balance sheet date.
Page 32

HMM ARTS LTD
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
20.
Operating lease commitments
Al 31 March 2024 the Company had commitments to make future minimum lease payments under non-
cancellable operating leases as follows-.
2024
2023
Not later than 1 year
Later than 1 year and not later than 5 years
3,025
7,452
3,025
10,433
10,477
13.458
21.
Related party transactions
The Trustee J Thomas was paid £850 during the year for running an arts workshop {2023 £2151.
The Trustee M Griffilhs was paid £2.170 Artists costs for assistance with a project during the year {2023
£NILI
Page 33