REGISTERED COMPANY NUMBER., 05280336 {England and Wales) REGISTERED CHARITY NUMBER: 1108488 HMM ARTS LTD A COMPANY LIMITED TEE RUSTEE 'RE RT UNAUDITED FINANCI NTS FOR THE YEAR END 202
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HMM ARTS LTD
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
| Page | ||
|---|---|---|
| Reference and Administrative Details | 1 | |
| Trustees' Repor | 2 | to8 |
| Independent Examiner's Repor | 9 | |
| Statement of Financial Activities | 10 | |
| Statement of Financial Position | 11 | to12 |
| Notes to the Financial Statements | 13 | to28 |
HMM ARTS LTD REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDEO 31 MARCH 2025 TRUSTEES H Bal5 Chair N J Green M J W Griffiths H O'connor (resigned 17.11.25} P M W Pack (resigned 13.6.241 G J Partridge N Slawson (resigned 17.11.251 J H Thomas {resigned 12.4.24} TJ Hunl (appointed 9.9.241 (resigned 17.9.25) L Jones (appointed 4.4.24) K M Miller lappointed 9.9.24) K L Worrow {appointed 7.5.24) A S Wagner lappcinled 7.10.25) O Voropai CHIEF EXECUTIVE OFFICER S K Jennings REGISTERED OFFICE The Hive 5 Belmont shWSbury Shropshire SY1 1TE REGISTERED COMPANY NUMBER 05280336 (England and Walesy REGISTERED CHARITY NUMBER 1108488 INDEPENDENT EXAMINER TCA {Shrewsburyl LLP Third Floor 21 St Mary's Street Shrewsbury Shropshire SY1 1ED SOLICITORS Hatchers 25 Castle Street Shrewsbury Shropshire SY1 1DA BANKERS CafBank Limited PO Box 289 West Malling Kent ME19 4TA Page 1
HMM ARTS LTD TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2025. The Iruslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Praclice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 (effective 1 January 2019). OBJECTIVES AND ACTIVITIES Objectives and aims We will continue to build on our achievements and deliver positive outcomes for our beneficiaries. our community, and our partners. Ourcore outcomes maIn central to our mission.. To help people feel posilive and more confident. To enable individuals to feel confident in being who they are. - To encourage valuing collaboration and working wilh others. To support the development of resilience. Our Purpose The Charitable Company's purposes are set oul 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." OurVi8ion HMM Arts Limiled's vision is." Thriving creative communities. Our Misslon The Hive provides a safe path to personal and community growth. Our projects and events transform lives through inspiring, inclusive, creative experiences primarily in Shropshire, T81ford & Wrekin and beyond. Our Stratagic Prioritles 1. To pioneer high qualty creative activities 2. To showcase the impact of Cativity to health and wellbeing 3. To create an inspiring, safe, and effective organisatton. Our Values Our working culture is led by the following values. Non-judgmental we focus on the potential and opportunity, with an open mind and focus on diversity Community-centered - we focus on nurturing belonging Collaborative- we focus on sharing and being stronger together Adventurous - we focus on leaming, experimenting, and challenging ourselves lo do new things Empowering - we enable meaningful, posrtive change Key Growth & Development Aims - Aim 1.. More People- Reaching more and new people and working in new ways with them Aim 2.. More Stability- maintain and increase financial slability and surplus Aim 3. More Profile recognised and widely known as a reliable, exciting innovative place to work with Young People Our Objectiv•s The objectives of the Charity as defined in the current business plan are.. 1. Artistic Programming More people have access to high qualty arts experiences, especially children, young people, and young adults 2. 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 Page 2
HMM ARTS LTD TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 3 Evaluation and Research - The positive impact of creative activity in changing people's lives and especially children. young people, and young adults, can be articulated 4. Communications and Marketing More people know about the high-quality arts and creative experiences available to them, enabling them to access these as either audience members or participants. especially children, young people, and young adults 5 Capacity and Finance - By increasing its own organisational capacity and financial position, the Charity is reaching more audiences and beneficiaries, whilst also making a posilive contribution to the creative sector 6. Advocacy and Partnership-working - Creation of new partnerships which will help the Charity 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 creativè activities and are able tc express themselves regardless of their life situation, health, financial situation, gender, age, or any other defining aspect Strategies for achleving 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 prc43ramming and audience development Providing creative facilrties and outreach opportunities Partnership working and sector deveb)pment The Trustees review the aims, objectives, and activities of the Charity each year. This report looks at what the Chsrrty has achieved and the outcomes of its work in the reporting period. The Trustees report the success of each key activity and the benefits the Charity has brought to those groups of people rt is set up to help. The review also helps the Trustees tc ensure th81 the Charity's 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.. Cumural Invesligators, and Ampljfy) Children In Need {Parachutesl Shropshire Council Virtual School (Looked After Children's Bandbuild projects) Shrop5hire Council {HAF Grant} - Shrewsbury Town Council {Communty Grant and Lccal Councillorfs Grant) - The National Lottery Heritage Fund (Hidden Waterways) . The National Lottery Communiiy Fund IMYCollege) In setting objectives and planning for activities, the Tfuslees have given due consideration lo general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit. running a charrty IP82)'. Page 3
HMMARTS LTD TRUSTEES. REPORT R THE YEAR ENDED 31 MARCH 2025 ACHIEVEMENTS AND PERFORMANCE Charitsble activities The year 2024-25 has presented both challenges and opportunities for The Hive The launch of our Save The HNe campaign highlighted the significant financial pressures faced by arts and COTnmunity organisalions nationally, while also demonstrating the signrficant strength of local support for our work. Despite these challenges, The Hive has continued to deliver high-quality, impactful programmes that make a tangible drfference to the lives of children, young peopl8, and the wider community. Looking ahead, our focus is on consolidating organisational resilience, diversifying income streams, and strengthening strategic partnerships to ensure long-term sustainability. We remain committed to delivering measurable oulcomes that enhance wellbeing. confidence, and social inclusion, while embedding creativity at the heart of community and individual development Through continued collaboration. sound governance, and a clear strategic vision, The Hive will ensure it remains a valued and effective contributor10 the region's cultural and social landscape. 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, ané in Ihis period the interest in both audience attendance and foom hire has increas8d to and at times, surpasseé pre-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 with 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 Reflections, Telford Young Carèrs. Shropshire Virtual Schools, Shrewsbury Colleges Group, Shropshire Autisrn Hub, Shrewsbury University Centre, Shropshire PACC, The Children's Society, Telford Collage, Bel$ Lifehouse, and Shropshire Youth Association, among others. In addition to this the Charity has also provided non grant funded services to organisalions 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 Footprints. Our Lives, Our Deaths 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 thoughls and views around death and dying to develop athork with poetry. Arts Council England - our Cultural Investigators project gained momentum during this period, bringing in numerous project partner organisations and linking wrth cohorts of young people and individuals who have attended aclivities at 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, mission, and strategic aims from the 2021-2024 business plan. The CEO is applying for funds to contract an experienced arts consultant and coach to work on the next business plan, and also lo 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's Trustee Board. In looking to replace these boaré member5 the CEO and Board Chair have discussed skills that were fell to be needed to compliment the current board members and help develop the charity Recrurtment 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 representative of a contemporary United Kingdom in relalion to disability, race, and socio-economic background. Over the reporting period we providerJ numerous opportunities at Ihe Hive for children and young people, including holiday artjcraft, filmmaking, and musicmaking workshops, and Buzzy Beals,. our weekly musicmaking session for under 5s. In this period, The Hive continued to employ a young person as Venue and Projects As51Stant who originally joined The Hive as an Intern through the DWP Kickstarter initiative. Page 4
HMM ARTS LTD TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 FINANCIAL REVIEW ReseNes policy The income of the charity is divided into restricted, and general {unrestrictedl funds in accordance with charty legislation. The restricted funé represents money given to the organisation for specific project or strategic 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 activty, and an analysis of any future needs, oppcrtunities, contingencies and risks, the effects of which are not likely to be met from planned expenditure. The Statement of Financial Activities shows that the total funds of the charity have increased during ihe year due to a net income of £12,100, bringing total reserves to £89,585 (2024.. £77,485). 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 ené of the year the free SerVeS stood at £38,54912024'. £1,032). Golng concern After making appropriate enquiries The Trustees have a reasonable expectation that 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 Page S
HMMARTSLTD TR TEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 FUTURE PLANS Ourstrategic and operational priorltles forthe coming period include: Continuing to develop and refine our business plan, wrth a particular focus on fundraising, strategic growth, and programme development. Expanding and strengthening programmes of activity in collaboration with partners across Shropshire. Telford & Wrekin, and the wider region. Playing a leading role in discussions and negotiations regarding commissioned services and developing strategies Io sustain and enhance delivery lo our beneficianes while exploring innovative ways ofworking Deepening our connections with local communities across Shrewsbury and Shropshire, embedding The Hive's work and rts base as an active, inclusive, and welcoming community hub. Supporting the delivery of Vibrant Shropshire, the county's cultural strategy, helping to eThsu that culture thrives locally and contributes to improved health, wellbeing. resilience, economic prosperity, and environmental sustainability. Further developing and embedding our fundraising strategy in alignment with our business objectives, with continued support from Trustees We will also invest in upskilling Trustees and staff in fundraising to diversify income streams and increase success with trusts, foundations, and other funding sources. Strengthening income generation through charitable donations, expanding our approaches to include ind ividual giving, sponsorship, community-based crowdfunding. and other innovative initiatives to engage supporters and sustain our work. Exploring new ways to support young people who f8¢8 challenges engaging in mainstream education, including the development of bespoke creativewellbeing programmes within alternative provision settings. Developing our Alternative Provision offer for young people by completing a Quality Assurance process wrth the local authority. The Hive will continue lo provide a safe, creative environment for children struggling with formal education-particularly those with EHCPS, EOTAS packages, care experience, SEMH needs, anxiety, social skill development needs, or who are electively home educated-oncè local authority funding is secUd for each individual. Conlinuing to work in partnership with regional Music Education Hubs to widen access to high-qualily music experiences. Strengthening existing partnerships and forging new collaborations, particularly with organisations and agencies working with children and young people, high-qualily arts organisations, commissioners, local businesses, and other charities. Consolidating our position as a key delivery partner for creative activities across Shropshire and the wider region. ensuring that children, young people, and young adults-especially those who are vulnerable or at risk-can access inclusive and engaging creative programmes underpinned by strong pedagogical principles. Continuing to work with major funders, including Arts Council England and The National Lottery, to support team and project development. broaden engagemenl with partners and participants, and bring high-qualily arts experiences to our venue, our region, and our beneficiaries. Expanding opportunities fDr children, young people, and young adults lo develop creative skills, knowledge and access to career progression, including ihrough volunteering, internships, and work experience placements. Maintaining robust evaluation of all activilies through The Hive's Evaluation Framework, alongside ongoing consultation with beneficianes, participants, and audiences to ensure our work continue5 to meet communty needs and builds a strong evidence base for future development. Ensuring that all creative activity continues to align with our five Dimensions of Empowerment. which consider both individual and collective growth and wellbeing. Page 6
HMM ARTS LTO TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2025 Ensuring that safeguarding remains central to our practice. All staff, volunteers, and Trustees have received safeguarding training. and we will continue to conduct monthly safeguarding review meelings. alongside regular updates and refresher training, to maintain the highest possible standards of care and compliance. Looking ahead. The Hive will continue to build on the resilience and community support demonstrated through the Save The Hive campaign. While challenges for the sector persist, we remain confident in our ability to adapt and sustain our impacl through innovation, collaboration. and strong governance. Our focus will be on securing long-term sustainability, maintaining excellen in delivery, and continuing to enrich Itves through creativity Wilh the continued support of our funders. partners, and community, The Hive is well positioned to remain a vital part of Shropshire's Gultural landscape STRUCTURE. GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust, and constitutes a limrted company, limrted by guarantee, as defined by the Companies Act 2006. Recruitment and appointment of n8W trustees Members of the Board are elected at Board meetings. The Board has authority to fill vacancies arising during the year. New Board Members are recruited through either an open process, advertised throughoul the region, or nominated by partn8r organisations. Potential recruits are Intefyiewed by existing Board Members. and if successful, are elected to the Board at the nexl General Meeting although they can be co opted to the Board unlil then. New Board Members will undergo a formal induction process and will be supported through the first few months of mémbership. Organisational structure The Board of Trustees meet on a regular basis. The Trustees delegate the day to day running of the company to the Chief Executive Officer. The Board of Truslees 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 Ihe 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 to its statutory financial responsibilrties, and to its management powers as defined in th8 Articles of Association. The Chief Executive is responsible to the Board for the proper administration of the Company's financial affairs. HMM Arts Ltd is 8 member of the National Council for Voluntary Qrganisations, wÈth which it C¢xperates in the pursurt of its charitable objectives. Risk managem8nt The trustees have a duty to identify and review the risks lo which the charity is exposed and to ensure appropriate controls are in place lo provide reasonable assurance against fraud and error. The Board reviews and assesses the risks to which the organisation 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 the following areas.. Governance Operational External Factors Financial Compliance Staffing and oiher human resour$ Environmental The Trustees are satisfied that systems and procedures are in place to manage the expesure to these risks. Page 7
HMMARTS LTD TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES, RESPONSIBILIry STATEMENT The trustees (who are 81so the directors of HMM Arts Ltd for the purposes of company 18w) are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and Unrted Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees tc prepare financial statements for each financial year. Under that law, the trustees have elected lo prepare the financial stalements in accordance with Unrted Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the trustees must not approve the financial statements unless they ar8 satisfied that they give a Iwe and fair view of the state of affairs of the charitable company and of the inccming resources and application of resources, incluéing the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to select surtable accounting policies and then apply them consistently, observe the methods and principles in the Charities SORP., make judgements and estimates that a reasonable and prudent, prepare the financial statements on the going concern basis unless il is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy al any time the financial position of the charitable company and to 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. Approved by order of the board of trustees on..... .and signed on its behalf by.. HBall- rus Page 8
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF HMMARTS LTD Independent examiner's reportto Ihetrustees of HMM Arts Ltd I'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 land also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirernenls of the Companies Act 2006 (Ihe 2006 Act,) Having satisfied myself that the accounts of the Company are not required to be audit8d under Part 16 of Ihe 2006 Act and are eligible for independent examination. I report in respect of my examination of your charity's accounts as carried out under Seelicn 145 of the Charities Act 2011 ('the 2011 Act,) In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145<5) (bl of the 2011 Act. Independent examinerfs statement Since your charity's gross income exceeded £250,000 your examiner must be a member of a lisled body. I can confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed my examinalion, I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act,, or the accounts do nol accord with those reGords'. or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination., or the accounts have not been prepared in accordanGe with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with Ihe Financia5 Reporting Standard applicable in the UK and Republic of Ireland (FRS 10211. I have no concerns and have come across no other matters in conneclion with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts to be reached. C Moewn-williams Bsc FCA TCA Ishrewsbury) LLP Third Floor 21 St Mary's Street Shrewsbury Shropshire SY11ED I7* QY)1jV 2015 Page 9
HMM ARTS LTD STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025 2025 Total funds 2024 Total funds Unrestricted fund Restricted funds Notes INCOME AND ENDOWMEKfs FROM Donations and legacies 107,929 107,929 25,524 Charitable activities General 37.408 196,166 233,574 226,382 other trading activities Investment income 66,885 66,885 338 60.523 639 Total 212,560 196,166 408,726 313,068 EXPENDITURE ON Raising funds 17,012 17,012 21,549 Chartiable activities General 79,854 212,708 292,562 275.582 Other 77,897 9,155 87,052 74,036 Total 174,763 221,863 396,626 371,167 NET INCOMEIIEXPENDITUREI Transfers between funds 37,797 497 (25,6971 (497) 12,100 158,0991 15 Net movement in funds 38,294 (26,194) 12,100 158,099) RECONCILIATION OF FUNDS Total funds broughtfomar 15,329 62,156 77,485 135,584 TOTAL FUNOS CARRIED FORWARD 53,623 35,962 89,585 77,485 CONTINUING OPERATIONS All income and expenditure has arisen from continuing activities. The notes form part of these financial statements Page 10
HMM ARTS LTD TATEMENT OF FINANCIAL POSITION 31 MARCH 2025 2025 Total nds 2024 Total funds Unrestricted fund Restrict funds Notes FIXED ASSETS Tangible assets 10 15,074 15,074 25,952 CURRENT ASSETS Stocks Debtors Cash at bank 11 12 1,621 37,409 25,641 1,621 37,409 61,603 1,637 13,606 69,224 35,962 64,671 35,962 100,633 84,467 CREDITORS Amounts falling due within one year 13 {26,1221 126,122) {32,9341 NET CURRENT ASSETS 38,549 35,962 74,511 51,533 TOTALASSETS LESSCURRENT LIABILITIES 53,623 35,962 89,585 77,485 NET ASSETS 53,623 35.962 89,585 77,485 FUNDS Unrestted funds Restricted funds 15 53,623 35,962 15,329 62,156 TOTAL FUNDS 89,585 77,485 The charitable company is enlitled to exemption from audit under Section 477 of the Campanies Act 2006 for the year ended 31 March 2025. The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for {aJ ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each fi'nancial yeai in accordance with the requirements of Sections 394 and 395 and which othe(wise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company. {b> The notes form part of these financial statements Page11 continuetj...
HMMARTS LTD STATEMENT OF FINANCIAL POSITION - contlnu8(1 31 MARCH 2025 These financial statements have been prepared in accordance with the provisrons applicable to charilable companies subject to the small companies regime. The financial statements were approved by the Board of Trusteès and aulhorised for issue IG. J..i.z. l .I.Q2S...... and were signed on its behalfby.. HBa The notes form part of these financial statements Page 12
HMM ARTS LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES
Basls of proparing thefinanclal statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102.
have been prepared in accordance with the Charities SORP IFRS 102) '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
HMM ARTS LTD NOTES TO THE FINANCIAL STATEMENTS-continued FOR THE YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES-continued Fund accounting Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Pension costs and other post-retirement benefits The charitable cornpany operates a defined contribution pension scheme. Contributicns payable to the charitable company's pension scheme are charged to the Statement of Financial Activrties in the period to which they relate. The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect ofthe year. Government grants Government grants are recognised in the Ststement of Financial aclFVity on receipt and enttlement to the funds. The government grant income is allocated to the appropriate fund on receipt Interest reGeivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company. Ihis is nomially upon notrfication of the interest paid or payable by the institution with whorn the funds are deposited Debtors Trade and olher debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand Cash al bank and in hand includes cash and short-term highly liquié investments wrth a short maturity ofthree months or less from the date of acquisilion or opening ofthe deposit or similar account. Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet dale as a result of a past event, it is probable that a transfer of economic benefrt will be required in seltlement, and the amount of Ihe settlement can be estimated reliably Liabilities a recognised at the amount that the Company anticipates il will pay to settle the debt or the amount it has received as advanced payments for the goods or services it musi provide. Provisions are measured al the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of Ihose amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of Ihe discount Is recognised in the Statement of financial activities a5 a finance cost. Financial instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments Basic financial instruments are initially recognised at transaction value and subsequently measured al their settlement value wrth the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. Operating leases Rentals paid under operating leases are charged to the Statement of financial activities on a straight-line basis over the lease term. Page 14 continued...
HMM ARTS LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 DONATIONS AND LEGACIES 2025 2024 Donations Gift aid 99,457 8,472 22,103 3,421 107,929 25,524 Included in donation income above is £11,000 received from Shrewsbury Town Council. OTHER TRADING ACTIVITIES 2025 2024 Room hire Other income Cafe income 40,570 3,010 23,305 34.208 6,456 19,859 66,885 60,523 INVESTMENT INCOME 2025 2024 Bank Interest 338 639 INCOME FROM CHARITABLE ACTIVITIES 2025 2024 Ticket income Projéct Incomelmatch funding Grants 12,192 74,088 147,294 14,091 55,989 156,302 233,574 226,382 Grants received, included in the above, are as follows., 2025 2024 Fees and grants Govemment grants 66,005 81,289 145,050 11,252 147,294 156,302 Included within grant income above is funding received from Shropshire Council and Historic England, grants received from local authorities during the year. Page 15 continued...
HMMARTS LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 NEf INCOMEIIEXPENDITUREI Net incomellexpenditurel is stated after chargingl{crediting)'. 2025 2024 Depr6rialion - owned assets 11,375 8,108 TRUSTEES, REMUNERATION AND BENEFITS There were no trustees, remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024. Trustees. expenses There were no trustees, expenses paid for the year ended 31 March 2025 nor for the year ended 31 March 2024, STAFF COSTS 2025 2024 Wages and $818ries Social sècurity Costs Other pension costs 151.391 5,245 2.758 125,919 2,158 2,109 159,394 130,186 The lotal remuneration and benefits paid to the key management personnel, to whom the Trustees delegate the day-to-day running cf the charity was £32,55312024.' £30,478). The average monthly numberofernployees during the ye8rwas 8s follows.. 2025 2024 CEO Employees 16 14 17 1S No employees received emoluments in excess of £60.000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fund Restricted funds Tot81 funds INCOME AND ENEOWMENTS FROM Donations and legacies 25,524 25,524 Charltable activities General 14,091 212,291 226,382 Other trading activities Investment income 60,523 639 60,523 639 Totsl 100,777 212,291 313,068 Page 16 continued...
HMM ARTS LTD NOTES TO THE FINANCIAL STATEMENTS-continued FOR THE YEAR ENDED 31 MARCH 2025 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES- continued EXPENDITURE ON Unrestricted fund Restricted funds Totsl fvnds Raising funds 21.549 21,549 Charltable activities General 57,717 217.865 275,582 Other 74,036 74,036 Total 131,753 239,414 371,167 NET INCOMEI(EXPENDITUREI (30,976) 127,123) (58,099) RECONCILIATION OF FUNDS Total funds brought fOard 46,305 89,279 135,584 TOTAL FUNDS CARRIED FORWARD 15,329 62,156 77,485 10. TANGIBLE FIXED ASSETS Fixtures and frttings Plant and machinery Tol8ls COST At 1 April 2024 Additions 23,539 106,418 497 129,957 497 At 31 March 2025 23,539 106,915 130,454 DEPRECIATION At 1 April 2024 Charge for year 13,034 2,354 90,971 9,021 104,005 11,375 At 31 March 2025 15,388 99,992 115,380 NET BOOK VALUE At 31 March 2025 8,151 6,923 15,074 At 31 March 2024 10,505 15,447 25,952 Page 17 continued..
HMM ARTS LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 11. STOCKS 2025 2024 Sti)cks 1,621 1,637 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade debtors Other debtors Prapayments and accrued income 21,705 13,472 2,232 5,761 7,126 719 37,409 13.606 13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2025 2024 Trade cr8dilor$ Other creditors Accruals and deferred income 13,993 2,391 9,738 19,419 2,641 10,874 26,122 32,934 Included above is deferred income of £3,791 (2024.. £8961 received in relation to Ticket Sales in the year ended 31 March 2026. 14. LEASING AGREEMENTS Minimum leas8 payments under non<ancellable operating leases fall due as follows.. 2025 2024 Within one year Beteen one and five years 2,981 1,739 2.981 4.719 4,720 7,700 Page 18 continued...
HMMARTS LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS Net movement in funds Transfers beeen funds At 1.4.24 31.3.25 Unrestricted funds General fund 15,329 37.797 497 53,623 Restricted funds Arts Council England- Cultural Investigators & Amplify Shropshire Council - HAF Summer Activities, LAC Holiday Band Builds and other smaller SCC funds National Lottery Communty Fund- MYC Music & Mycollege Children in Need - Parachutes Shrewsbury Town Council Oul of the Groove LG8T History Festival Flaxmill Street Art & Collective High Sheriffs Fund Utl@y Family Foundation National Lottery Awards for all UKSPF- Vital Hive PACC Healthy Lives Shrewsbury Flaxmill- Micro Grant 2024 The Rowlands Trust Alternative Provision Wild HiveThe Nuture Garden 19,067 (1,155) 17,912 19,890 9,238 29.128 12,771 9,445 145 2,569 1.490 1,315 610 750 (12,771) {9,445) (145) {2,569J {1,490} (1,3151 (610) (7501 18861 (11,691) 1,271 (1,973) 3,000 12711 5,865 (5,5111 11,2711 (212> (17,4141 (1,973) 2,715 (271) 5,865 (285) 62,156 125,697) 1497) 35,962 TOTALFUNDS 77,485 12,100 89.585 Page 19 continued...
HMM ARTS LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS- contlnued Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 212,560 (174,7631 37,797 R8Stricted funds Arts Council England - Cultural Investigators & Amplify 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 Shrewsbury Town Council Out of the Groove LGB T History Festival Flaxmill Street Art & Collective High Sheriff s Fund utley Family Foundation National Lottery Awards for all UKSPF- Vital Hive PACC Healthy Lives Shrewsbury Flaxmill- Micro Grant 2024 The Rowlands Trust Tesco- Groundwork UK LAC NHS Murals Akernalive Provision CP Airplay 2024 (F14F Shawburyl DRAWN X SFM Wild Hive The Nuture Garden 35.365 <36,520) 11,1551 34,881 (25,643) 9,238 1,425 (14,1961 {9,4451 <1451 (5,223) (1,4901 (3,6901 (6101 (7501 (8861 188,0001 {1) {4,933} <12,7711 19,4451 {145) {2.569) {1,490) (1,315) <610) (750} (886} (11,891) 1,271 11,9731 3,000 2,654 2,375 76,309 1,272 2,960 3,000 1,000 3,177 22,046 500 1,117 2,020 6,065 {1,000) {3.177) {22,317) 1500) (1,117) (2,020) (200} 1271) 5,865 196,166 (221,8e3) (25,697} TOTALFUNDS 408,726 1396,626> 12,100 Page 20 continued...
HMM ARTS LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS- continued Compardtives for movement in funds Net mvemenl in funds At 1.4.23 31.3.24 Unrestricted funds General fund 46.305 (30,976) 15,329 Restricted funds Arts Council England- Cultur81 Investigalors & Amplify Shropshire Council - HAF Summer Activities, L4C Holiday Band 8uilés and other smaller SCC funds National Lottery Community Fund- MYC Music & Mycollege Children in Need - Parachutes Youth Music Foundation - Shining Sta Natn81 Lottery Heritage Fund Shrewsbury Town Council Out ofthe Groove LGBT Hislory Festival Flaxmill Street Art & Collective High Sheriff s Fund Utley Famity Foundation St James Place Foundation National Lottery Awardsfor all UKSPF- Vital Hive PACC He81thy Lives 24,703 (5,636) 19,067 12,975 6,915 19,890 5,651 10 12,087 15,695 7,120 9,435 112,087) 115,695) 145 2,569 1,490 1,315 610 750 (9.598) (7.674) 15,511) 11,271) 12,771 9,445 145 2.569 1,490 1,315 610 750 9,598 8,560 {5.511) (1,271) 89,279 127,123) 62,156 TOTAL FUNDS 135,584 158,0991 77,485 Page 21 continued...
HMM ARTS LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS- continued Comparative net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestricted funds General fund 100,777 <131,753) (30,976) Restrlcted funds Arts Ccuncil England - Cultural Investigators & Amplify Shropshire Council - HAF Summer Activrties, LAC Holiday 8and BLJilds and other smaller SCC funds National Lottery Community Fund- MYC Music & mYColle Children in Need- Parachutes Youth Music Foundation - Shining Stars National Lottery Heritage Fund Shrewsbury Town Council Out ofthe Groove LGBT History Festival Flaxmill Street Art & Colleclive The Childrens Society High Sheriff s Fund Care Leavers Mural Ulley Family Foundation Austin & Hope Pilkingion Trust Other Restricted Grants St James Place Foundation National Lottery Awards for all UKSPF- Vital Hive PACC Healthy Lives 55,936 161,572> (5,636) 41,611 {34,6961 6,915 56,933 19,314 5,C61 7,590 1,500 7,684 4,090 5.278 2.269 1,250 1,100 1,000 1,000 675 (49,813) (9.879) (17,148) {23,285} (1,355) (5,115} 12,6001 13,9631 12,2691 1640) 11,1001 (250) (1,0001 (6751 (9,5981 (7,674) 15,511 > (1,271) 7,120 9,435 {12.087) (15,695) 145 2,569 1,490 1,315 610 750 (9,598) (7,674) (5,511 } (1,271) 212.291 {239,414> 127,123) TOTAL FUNDS 313,068 (371,167) 158,099) Page 22 continued...
HMMARTSLTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS- contlnued A current year 12 months and prior year 12 months combined position is as follows= Net movement in funds Transfers between funds At 31.3.25 At 1.4.23 Unrestricted funds General fund 46,305 6,821 497 53,623 Restricted funds Arts Council England- Cultural Investigators & Amplify Shropshire Council - HAF Summer Activities, LAC Holiday Band Builds and other smaller SCC funds National Lottery Ccmmunty Fund- MYC Music & Mycollege Children in Need- Parachules Youth Music Foundation- Shining Slars National Lottery Heritage Fund Sl James Place Foundation National Lottery Awards for all UKSPF-Vilal Hive Shrewsbury Flaxmill- Micro Grant 2024 The Rowlands Trust Arternalive Provision Wild Hive The Nuture Garden 24,703 (6,7911 17,912 12,975 16,153 29.128 5,651 10 12,087 15,695 9,598 8,560 (5,651 } (101 (12,0871 (15,6951 {9,5981 {8,560) <17,202} (1,9731 3,000 {271) 5,865 (212) 117,414) (1,973) 2,715 1271) 5,865 128S) 89,279 152,820) {497} 35,962 TOTALFUNDS 135.584 145 9991 89,585 Page 23 continued...
HMMARTS LTD NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS- continued A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follDWS'. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fvnd 313,337 (306,516) 6,821 Restricted funds Arts Council England- Cuftural Investigators & Amplify Shropshire Council - HAF Summer Activrties, LAC Holiday Band Builds and other smaller SCC funds National Lottery Community Fund- MYC Music & Mycollege Children in Need- Parachules Youth Music Foundation- Shining Stars National Lottery Heritage Fund Shrewsbury Town Council Out ofthe Groove LGBT History Festival Flaxmill Street Art & Collective The Childrens Society High Sherrff5 Fund Care Leavers Mur81 Utley Family Foundation Austin & Hopè Pilkingion Trust Other Restricted Grants St James Place Foundation National Lottery Awards for all UKSPF- Vital Hive PACC Healthy Lives Shrewsbury Flaxmill- Miero Grant 2024 The Rowlands Trust Tesco- Groundwork UK LAC NHS Murals Alternative Provision 91,301 (98,092) 16,7911 76,492 {60,339) 16,153 58,358 19,314 5.061 7.590 1,500 10,338 4,090 7,653 2,269 1.250 1,100 1,000 1,000 675 (84,009) {19,3241 (17,148) (23.285) (1,500) (10,338) (4.0901 (7.6531 (2.269) (1,250) (1,100) (1.000) (1.000) 16751 (9.5981 (8,580) (93,511) (1.272) 14.933) {5,6511 (101 (12,087) 115,695) {9,5981 {8 5601 117,2021 76 309 1.272 2.960 3,000 1,000 3,177 22,046 500 1,117 2,020 6,065 {1,9731 3,000 (1.000) (3.177) (22,317) 1500) 11,117) (2,020) 1200) {271) Airplay 2024 (RAF Shawbury) DRAWN X SFM Wild Hive The Nuture Garden 5,865 408,457 (461,277} {52,8201 TOTAL FUNDS 721,794 (767,793) (45,9991 Restrlcted funds Arts Council En land Cultural Investigators: This project recognises creative talent, revealing the range of stories that spring from this communily-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 heritage, inspiring them to engage with cullure in their own futures. Page 24 Continued...
HMMARTS LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS- continued Amplify Amplify supported local young people to develop their creative and professional skills within the music and wider creative industries. The project worked with participants who had a range of ambitions and interests, including sound engineering, music production, marketing and live performance Freelance industry professionals provided tailored mentoring, lechnical training and practical creative sessions, helping participants to build confidence, develop new skills and explore potential progression routes. Participants also gained hands-on experience by supporting the delivery of local music festivals, giving them direct insight into Ihe behind-the-scenes workings of large-scale live events. Activity culminateé in participants producing and sharing their own creative work, supported throughout by specialist practitioners and The Hive Shro hire Council HAF Summer Activrties. Through the Holiday Activities and Food (HAF) programme, The Hive provided creative enrichment sessions for children and young people eligible for HAF support. Activitiès included drumming, poetry, animalion, music-making and creative writing. offering positive creative experiences during school holidays. Looked After Children's Team- Holiday Band 8tJilds'. Funded by Shropshire Council Virtual School, this programme offered songwriting, music production and band-building opportunities for Looked After Children aged 12-15. Delivered during school holidays, the project developed musicianship, confidence and recording skills, and Goncluded with supported performance opportunities. The National Lotte MYC Music.. This Project for young adults aged le 30 experiencing loneliness and soci81 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 lo increase informal referral, whilsl being in a position lo offer low level support. Participants develop their musical skills whilst also gaining confidence, selfsteem, and a sense of agency, expressing themselves throu9h song-writing, ar,d regularly celebrating their achievements through performances and recordings of their work, From March 2D20 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 Commun Fund MYCollege'. Mycollege was a five-year programme providing the core infrastructure connecting all Hive charily work with young adults aged 16-30. The project nurtured talent and creative expression for young adults experiencing low confidence or complex challenges. Through film, visual arts, music, pottery, creative writing and more, Mycollege supported confidence, resilience, and wellbeing, built strong peer relationships and improved access to creative spaces where young adults felt heard and valued. Childrén In Need Parachutes. Parachutes was a long-tetm early-years project for under-55 and their parents, guardians, and carers in Harlescott, North Shrewsbury. The programme strengthened early childhood development through creative play and supported families to build relationships. confidence, and community conneclion, and provided paediatric first aid training to parents, guardians. carers, staff. and volunteers from Harlescott and the project's partner venue. Y uth Mus Shr hire Ccuncil Virtual Sch Is.. Shinin Slars Shining Stars was a radio and pccast project that strengthened the Care Council Crew's ability to advocate for Looked After Children aged 12-15. Participants improved communication and presenting skills, explored different music genres. gained confidence, and formed positive peer latIOnShips. This fund was fully spent in year ended 31 March 2024. Page 25 continued...
HMM ARTS LTD NOTES TO THE FINANCIAL STATEMENTS-contlnued FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS- continued The National Lotte Herrta e Fund.. Hidden Waterwa Hidden Waterways was an intergeneralional heritage and communlty engagement project focused on the Shrewsbury and Newport Canal. Working with Virtual Shropshire, Shrewsbury and Newport Cana15 Trust and Shrewsbury Flaxmill Maltings, participants gathered local stories, look part in workshops, captured drone footage, and created new community resources. Activities included public events, exhibiticns, a ceramics trail, and community days. This fund was fully spent in year ended 31 March 2024. Shrewsbu Town Council Shrewsbury Town Council's Local Councillo¢s Grant and Local Communrty Fund support provided essential match-funding that contributed to the delivery of larger projects, including Amplify. ensuring full delivery of planned creative activity. Out OfThe Groov This project introduced music as a positive and accessible activity for young adults aged 15-25 with additional needs in Nerth Shrewsbury, helping to build confidence, social connection, and creative skills. LGBT Histo Festival The Hive was a delivery partner for the LGBT History Festival in 2023 and 2024, working alongside lead organisation SAND (Safe Ageing No Discrimination) to host the festival launch, gallery exhibition and a series of creative and community events. The programme celebraled LGBT histories and experiences, slrenglhened visibility and inclusion, and provided a welcoming space for people of all ages lo come logether, The partnership supported SAND'S mission lo improve understanding and support for older LGBT+ people across Shropshire and the wider region. Flaxmill Str Art & Collective Flax Collective invited 18-25-year-olds to co-design creative activity at Shrewsbury Flaxmill Mallings. Monthly sessions provided a safe and supportive space where young people generated ideas. planned events, re-imagined the site for young visitors. and developed skills to support progress in education and employment. h Sheriffs Fund A grant from the High Sheriff s Fund enabled The Hive lo extend work with children and young people facing significant life challenges 8nd supported malch-lunding across several projects. Utle Famil Foundation The Hive administered a Power of Music granl supporting The Mere Singers choir. Funding enabled choir members living with dementia and their carers to participate more fully through access and travel support. National Lotte Awards for all Funding supported a youth music project in Whitchurch and provided essential small-scale capital investment in The Hive building. Young people took part in drop-in creative sessions, using music, photography, and film to build resilience and reduce anti-social behaviour. UKSPF.. Vrtal HNe UK Shared Prosperty Fund support enabled The Hive to deliver a range of projects designed lo strength8n 8motion21 wellb8ing and social outcomes for young people across Shropshire. Activity during this period included The Hive Street Festival 2024. youth engagement gi9s and workshops, anti-social behaviour reduction work in Shrewsbury, and crealive workshops in partnership with Shropshire Supports Refugees. PACC Health Lives As part of the Healthy Lives programme for 14-25-year-olds with SEND, The Hive delivered crealive activities including African drumming, music-making, and songwriting, partly supported through Cultural Investigators funding. Page 26 continued...
HMMARTS LTD NOTES TO THE FINANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2025 15. MOVEMENT IN FUNDS- Gontinued Shrewsbu Flaxmill - Micro Grant 2024 A small grant from Shrewsbury Flaxmill Maltings supported inclusive music and drumming sessions for hearing- and sight-impaired children and young people. The project also included consultation with participants to help infonn future accessibility improvements at the Flaxmill. The Rowlands Trust A capital grant from The Rowlands Trust enabled the purchase of essential equipment for The Hive building. Tesco - Groundwork UK Through Tesco Stronger Starts, The Hive received grants supporting inclusion-focused creative projects. Funding supported a Wellbeing Projects Showcase in Shrewsbury, and planning activity began for Rural Tunes, to be delivered In Ludlow in early 2026. LAC NHS Murals Th@ Hive created portable murals for NHS spaces supporting Looked After Children in Shropshire and Tèlford. Young people worked with a professional illustrator to co4esign and produce the largescale athorks, leaving a lasting creative legacy Altemative Provision The Hive developed an Alternative Provision pathway. providing a Safe, creative space for young people struggling wrth school attendance or experiencing care, SEMH needs, anxiety or social barriers. The flexible, non-academic environment SLJPPOrted confidence. communication, and emotional wellbeing. The Hive intends to further develop this work in 2025126. Cf Midcountiès Co-operalive funding supported a wellbeing creativity and music programme for young people experiencing complex personal challenges. helping them to build confidence, identity, and emotional resilience. Air la 2024 RAF Shawbu In autumn 2024, The Hive delivered beat-making, animation and collage-making activities for children and young people at RAF Shawbury. DRAWN X SFM The Hive supported delivery of the Drawn weekend 2024 by providing family creative activities inspired by international skylines and the industrial heritage of Shrewsbury Flaxmill Maltings, helping participants explore the sile's global significance as the world's first iron-framed building. Wild HiveThe Nuture Garden The Wild Hive project supported the maintenance, nurturing and enhancement of The Hive's community garden. The pioject increased volunleerins opportunrties, improved biodiversity and cre8ted a peaceful, inviting wellbeing space forcommunity use in Shrewsbury town centre. Page 27 continued...
HMMARTS LTD NOTES TO THE FINANCIAL STATEMENTS- continu FOR THE YEAR ENDED 31 MARCH 2025 16. EMPLOYEE BENEFIT OBLIGATIONS The charily operates a defined contribution pension scheme. The assets cf the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the group io the fund and amounted lo £2,758 {2024. £2,109). Contributions totalling £nil (2024.. £467) were payable lo the fund balance sheet date. 17. RELATED PARTh DISCLOSURES During the year the charity received income of £520.20 from Shropshire Film Sociely, an organisation set up by one of the Trustees. During the year donations of £10,000 from Lets Rock Community Funding, donations from STC Local Councilors and £1,404 for hiring performance space has been received from Shiewsbury Town Council, which Trustee H Ball is the Clerk. The Trustee J Thcmas was paid £nil during the year for running an arts workshop (2024 £850). The Trustee M Griffrths was paid £nil Artists costs for assislance with a project during the year (2024 £2,170) Page 28