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← The Inspire Arts Trust

2024-08-31-accounts

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THE INSPIRE ARTS TRUST FINANCIAL STATEMENTS

31 AUGUST 2024

Company Registration Number 05202978 Charity Number 1111784

THE INSPIRE ARTS TRUST

FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024

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Contents Pages
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Contents Pages
Report of the Trustees 1 to 6
Reference and administrative information 7
Independent Examiner’s Report to the Trustees 8
Statement of Financial Activities 9
Balance Sheet 10
Notes to the financial statements 11 to 19

THE INSPIRE ARTS TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 AUGUST 2024

Structure, Governance and Management

Status

The Inspire Arts Trust is a registered charity and a company limited by guarantee and is governed by its Memorandum and Articles of Association.

Organisational structure

The Trust is governed by a board of Trustees, who are responsible for setting the strategic direction of the charity and for establishing policy. The board of Trustees meets regularly and delegates the day-to-day operation of the charity to an executive board of management.

Objectives and activities

Aims of the charity

The objects of the charity are:

The Inspire Arts Trust has continued to show good growth over this past year which is very encouraging. We are delighted to outline the development accomplished in each area.

The Directors/Trustees have complied with the Charities Act 2011 to have due regard to public benefit guidance published by the Charity Commission.

Bristol Academy of Live Performing Arts (BALPA)

BALPA has continued to show good growth again this year moving from 200 students and edging close to 250 by the end of the year. The adults classes have gone from strength to strength with a third class being introduced to help with the capacity. This year we also launched our Fitness for Sport classes which saw 10 boys aged 14 – 16 attend. This was launched with funding help and in the survey at the end of the first term, all 100% of class participants said their mental health had improved as well as their fitness through these classes.

One of our highlights this year has been the growth of our lyrical dance class for younger ages. This has thrived so much this year that it is full and bursting! In September 2024 we are splitting this into two classes and these are already growing rapidly.

We held two BALPA show days this year, two shows per day in December and two shows per day in July. It was great to see the children perform and their families loved the shows. Each show was attended by about 300 people which was so good to see. Many parents have commented how much the shows help their children’s confidence to grow which is really encouraging.

Our Young Volunteers programme has continued this year with one student completing their bronze award and moving on to their Silver (this was completed in September 2024 and they are now onto their Gold Award). We have made new connections in the community and are now able to offer South Gloucestershire Young Volunteers Award and the South Gloucestershire Youth Award as well as

1

THE INSPIRE ARTS TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 AUGUST 2024

ASDAN awards in Volunteering, Creative Arts and Sport. Alongside this, we are now also able to offer Dance Leadership Awards Levels 1 & 2 and Sports Leadership Levels 1 – 3. As these are nationally recognized standards, this means our students have more opportunities to teach and use their skills as they move on from BALPA. At the end of August 2024 we now have 48 awards that are about to be started by young people. We have entitled this scheme Training the Teachers of the Future which is something we are very passionate about. We have also received funding to be able to offer some of these at subsidized rates keeping them accessible to as many people as possible.

Our summer sessions were such a success in 2023 that we ran four days in Easter 2024 that were sold out and two days in May 2024. In the summer we were able to obtain funding for 110 free spaces through the South Glocuestershire HAF fund. We also gained a grant of £1100 from the Woodward Charitable Trust. This all meant we were able to give 380 subsidised places this summer – over 100% increase since the previous year! The comments from the council and all those who attended were very encouraging! One parent said: ““My child would not stay at any holiday activity club and hadn’t found one she enjoyed until she came to yours. She thoroughly enjoyed it and asked to return which is great success in my eyes.”A.N The HAF lead from the council commented, “I know that colleagues that came out to visit you were super impressed!” N.W

Our bursary fund continued to maintain a good level even though we supported more families than ever. We were a winner of the Tesco Blue Token scheme in our area which brought in more funding. This funding has continued to be a lifeline to families whose children want to learn the performing arts but who do not have the finances to do so.

This year we wanted to increase our giving to all the bursary families we saw not only through BALPA weekly but also through our holiday activity days. South Gloucestershire Council awarded us grants from their food fund which meant this became a reality. Families were overjoyed at receiving these food hampers as it made such a difference to them. One mum came into the complex in floods of tears, and as her daughter went into class she started chatting to our receptionist about how hard life was. The receptionist handed her the bag of food and she cried again saying, “thank you so much, that’s one less thing I have to worry about this week.” Another little girl was overheard saying “Mummy we can have cereal, we can never normally afford cereal!” It is a real pleasure to be able to support these families.

Looking ahead, we have landed a grant from Garfield Weston which will really help us accelerate the growth of BALPA further in 2024/5. We have also just heard we have a grant from Children in Need which will mean we can afford to pay a General Manager one day a week which will give us a really steady foundation for even more growth.

Community

This year as feared, we had to turn down the opportunity to perform in the carnival as the cost of entry was too high for a lot of families we worked with. Instead we took the opportunity to perform at as many School Fairs as possible. The children loved the opportunities to perform in front of their friends and it helped us reach a much wider network of people which was brilliant. These have resulted in new bookings for us.

We partered with Katherine Lady Berkley (KLB) school this summer to give their students volunteering opportunities at our summer sessions. This gave them a chance to learn new skills and have more real work experience. Six students took part in total and the school were overjoyed with the opportunity. This has opened the door to a conversation about a bigger partnership with them in the future.

Our work has continued with Jigsaw (a charity who work with children with additional needs) and we continue to run a class specifically for the children they work with each week. Funding from Quartet Foundation and Stoke Park friends grant have ensured this continues. It has been decided that from September 2024 this will change into a Quiet Class therefore even if children don’t have a diagnosis but struggle with loud noise, they can attend this class. This came out of feedback from a parent at

2

THE INSPIRE ARTS TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 AUGUST 2024

an Arts Fair where we ran workshops. Jigsaw will still support the class but we will take the lead.

Our September 2023 Family Activity Day went really well with over 100 people attending. Many enjoyed the taster workshops and we had around 20 new sign ups for classes and lessons which was very encouraging. The local Fire Brigade came to the event with their fire truck which was a big hit with the children as well.

We have continued to grow our connection with South Gloucestershire Council and this year hosted their Whats on Your Plate roadshow highlighting the importance of healthy eating. They have also provided us with many leaflets and contacts to give to families in vulnerable circumstances.

Wellbeing

In September 2024 we plan to launch some Wellbeing events in Thornbury. This year we did a survey of our BALPA mums and found that they overwhelmingly wanted to have places where their wellbeing can be nutured. We are excited about this starting and look forward to reporting more on the outcomes next year.

Personnel

We have continued to grow and recruit new tutors this year which is fantastic! One tutor returned from maternity leave much to the excitement of the children she teaches. Unfortunately, one of our tutors had to leave on health grounds, however we were able to recruit someone to replace her. One of the very exciting things for us is we have our first appointed tutor who has been grown through BALPA. It is brilliant to see this working and how much the children enjoy working with her!

This year it has been fantastic to see the growth in Inspire. We are indebted to our amazing workers, funders, volunteers, management team and Trustees who are so passionate and hard working in delivering excellent and rewarding experiences for all the young people who attend.

Governence

One of the Trustees, Hazel McGreavy, who has faithfully served Inspire as a Trustee since it’s beginning in August 2004 decided to step down in July 2024 after 20 years of service. The Trustees and all at Inspire are so grateful for all Hazel has given over the years. The recruitment process is underway for a new Trustee and this will be completed in the 2024/5 year.

The list of members for The Inspire Arts Trust will be updated accordingly in the 2024/5 year.

Financial Review

Reserves policy

The Trustees have established a policy whereby the unrestricted funds not committed or invested in tangible fixed assets (“the free reserves”) held by the charity should be between 3 and 6 months of the unrestricted expenditure, which equates to £13,785 to £27,570 in general funds. At this level, the board of Trustees feels that it would be able to continue the current activities of the charity in the event of a significant drop in funding. It would obviously be necessary to consider how the funding would be replaced or activities changed accordingly. At the balance sheet date, the free reserves were £4,519, increasing from £1,965 in the prior year which has been good to see, but are not as high as we would ideally like to improve the resilience of the charity. There are some funds already given for the next financial year to help towards core costs and therefore the Trustees feel confident Inspire will continue to grow. The Trustees are of the opinion that Inspire remains a going concern but are continuing to keep a careful eye on the situation.

Investment powers

The Trustees can invest in any stocks, funds, shares, securities or other investments of whatsoever nature as the trustees shall, in their absolute discretion, think fit.

3

THE INSPIRE ARTS TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 AUGUST 2024

Investment policy

As income is utilised within a short time after receipt, the Trustees consider that the most appropriate policy for investing funds is to place them on short-term deposit.

Risk management

The Trustees reviewed the risks of the charity and the risk register was discussed in January 2022 by the Trustees. The main risks, control factors and actions have been identified as follows:

Risk: Risk of reserves being depleted. Controls: Liability insurance against losses. Regular funding has been consolidated through BALPA. More students have been added to BALPA but this growth needs to continue. Actions: Close monitoring of the reserves by the CEO and Trustees.

Risk: Inadequate cashflow to meet requirements. Controls: Regular monitoring of cashflow by General Manager. Budgeting of key areas of work. Maintaining adequate reserves. Recruiting more students at every opportunity. Actions: Continue to monitor cashflow and build reserves back up. Recruit more students to ensure this happen.

4

THE INSPIRE ARTS TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 AUGUST 2024

Risk: Lack of funding to support the work of the charity. Funding bids are being produced and submitted.Regular funding being consolidated through BALPA.Controls: Bursary funding is especially important as families will be struggling with the cost of living. Continue to develop the publicity of BALPA to increase revenues.

The Trustees have continued to review the risks this year, with more regular financial updates and being kept appraised of funding successes. The Trustees will continue to monitor the risks but are happy with how Inspire is progressing.

Future

The charity plans to continue to grow and develop BALPA over the next few years and is looking to continue to broaden its work with schools, and also make key partnerships with other organisations to enable this to happen. The charity is keen to keep developing its links into the local community and looks for every opportunity to grow these where possible.

Trustees

The Trustees, who are directors for the purpose of company law, who served during the year and up to the date of this report, are set out on page 7.

Statement of Trustees’ Responsibilities

The trustees (who are also directors of The Inspire Arts Trust for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

5

THE INSPIRE ARTS TRUST

REPORT OF THE TRUSTEES

YEAR ENDED 31 AUGUST 2024

Small company provisions

This report has been prepared in accordance with the special provisions for small companies under part 15 of the Companies Act 2006.

Registered office: Signed by order of the Trustees Caedmon Complex Richand Callin Kynaad Bristol Road Thornbury BS35 3JA R Collier-Keywood Trustee Approved by the Trustees on ……………. 02 May 2025

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THE INSPIRE ARTS TRUST

REFERENCE AND ADMINISTRATIVE INFORMATION

YEAR ENDED 31 AUGUST 2024

Charity number

1111784

Company number

05202978

Company secretary Mrs N R Goudie

Trustees

The trustees who served during the year and since the year end were as follows:

Mrs H McGreavy (Resigned July 2024) Mr R D Collier- Keywood Mr W McGinn Mr S Cavanagh Mr P Davies (Appointed 23 January 2025)

Registered office

Caedmon Complex, Bristol Road, Thornbury, BS35 3JA

Independent Examiner

Joshua Kingston BSc. ACA, Burton Sweet Limited, The Clock Tower, 5 Farleigh Court, Old Weston Road, Flax Bourton, Bristol BS48 1UR

7

THE INSPIRE ARTS TRUST

INDEPENDENT EXAMINER’S REPORT TO TRUSTEES

YEAR ENDED 31 AUGUST 2024

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 August 2024.

.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 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) (b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Joshua Kingston BSc. ACA Burton Sweet Limited

The Clock Tower 5 Farleigh Court Old Weston Road Flax Bourton Bristol BS48 1UR

Date: …………………………… 02 May 2025

8

THE INSPIRE ARTS TRUST

STATEMENT OF FINANCIAL ACTIVITIES (Including Income & Expenditure Account) YEAR ENDED 31 AUGUST 2024

Note
Income from:
Donations and grants
2
Charitable activities
3
Other income
Total income
Expenditure on:
Charitable activities
4
Total expenditure
Net income/(expenditure)
5
Transfers between funds
11
Net movement in Funds
11
Total funds at 1 September 2023
11
Total funds at 31 August 2024
11		 Unrestricted
Funds
£
1,750
56,226
651
58,627
55,138
55,138
3,489
(731)
2,758
2,162
4,920		 Restricted
Funds
£
15,191
1,077
4
16,272
21,386
21,386
(5,114)
731
(4,383)
16,892
12,509		 Total funds
2024
£
16,941
57,303
655
74,899
76,524
76,524
(1,625)
-
(1,625)
19,054
17,429		 Total funds
2023
£
33,204
42,105
172
75,481
64,913
64,913
10,568
-
10,568
8,486
19,054

The charity has no recognised gains or losses other than the results for the year as set out above. All of the activities of the charity are classed as continuing.

The comparative funds are detailed in note 15.

The notes on pages 11 to 19 form part of these financial statements

9

Company registration no: 05202978

THE INSPIRE ARTS TRUST

BALANCE SHEET

AS AT 31 AUGUST 2024

BALANCE SHEET
Company registration no: 05202978
AS AT 31 AUGUST 2024		 Company registration no: 05202978
Note
Fixed Assets
Tangible assets
8		 2024
2023
£
£
401
197
Current Assets
Debtors
9
Cash at bank		 401
197
256
608
36,357
22,866
Creditors : Amounts falling due
within one year
10		 36,613
23,474
(19,585)
(4,617)
Net current assets 17,028
18,857
Net assets 17,429
19,054
Restricted funds
12
Unrestricted funds
General funds
12		 12,509
16,892
4,920
2,162
17,429
19,054

For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476,

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

These financial statements were approved by the Trustees on ……………….. and are signed on their behalf by:02 May 2025

………………………… R Collier-Keywood

10

THE INSPIRE ARTS TRUST NOTES TO THE FINANCIAL STATEMENTS

AS AT 31 AUGUST 2024

1 Accounting policies

The charity can continue as a going concern. The Trustees have noted that although the reserves are still under the reserves policy level, they have increased since last year. Also the numbers of children have increased up to 250 on average for the 2024/5 year so we expect these to increase even more in the future.

The Trustees consider the charity to be a public benefit entity as defined under FRS102.

I. When donors specify that donations given to the charity must be used in future accounting periods, the income is deferred until those periods;

II. When donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred until the pre-conditions have been met.

Governance costs include those costs associated with meeting the constitutional and statutory requirements of the entity and include the audit fees and costs linked to the strategic management of the entity. They have been included within support costs.

All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly, others are apportioned on an appropriate basis.

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Office Equipment - 33% p.a straight line

Fixtures & Fittings - 25% p.a straight line

11

THE INSPIRE ARTS TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

1 Accounting policies - continued

2 Income from Donations and Grants

Donations
Grants
Gift Aid received
Prior year comparative
Donations
Grants
Gift Aid received
Income from charitable activities
Bristol Academy of Live Performing Arts
Community activities
Prior year comparative
Bristol Academy of Live Performing Arts
Community activities		 Unrestricted
Funds
£
(600)
2,350
-
1,750
Unrestricted
Funds
£
388
5000
93
5,481
Unrestricted
Funds
£
55,765
461
56,226
Unrestricted
Funds
£
40,585
1,520
42,105		 Restricted
Funds
£
1,654
13,459
78
15,191
Restricted
Funds
£
54
27,667
2
27,723
Restricted
Funds
£
1,077
-
1,077
Restricted
Funds
£
-
-
-		 Total 2024
£
1,054
15,809
78
16,941
Total 2023
£
442
32,667
95
33,204
Total 2024
£
56,842
461
57,303
Total 2023
£
40,585
1,520
42,105

3 Income from charitable activities

12

THE INSPIRE ARTS TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

4
Expenditure on charitable activities
Bristol Academy of Live Performing Arts (BALPA)
Community activities
Other
Prior year comparative
Bristol Academy of Live Performing Arts (BALPA)
The Prodigals
Community activities
Other
Support costs
Governance
£
BALPA
818
Other
350
1,168
Prior year comparative
Governance
£
BALPA
799
Other
343
1,142
Support costs are allocated on usage basis.
Governance costs
Independent examination fee
Companies House confirmation statement
Tax investigation service		 Direct costs
£
56,118
345
429
56,892
Direct costs
£
42,947
1,668
800
723
46,138
Office costs
£
2,824
1,210
4,034
Office costs
£
1,764
756
2,520		 Support
costs
£
13,743
-
5,889
19,632
Support
£
13,142
-
-
5,633
18,775
Premises
costs
£
10,101
4,329
14,430
Premises
costs
£
10,579
4,534
15,113
2024
£
1,032
34
102
1,168		 Total 2024
£
69,861
345
6,318
76,524
Total 2023
£
56,089
1,668
800
6,356
64,913
Total 2024
£
13,743
5,889
19,632
Total 2023
£
13,142
5,633
18,775
2023
£
1,032
13
97
1,142

13

THE INSPIRE ARTS TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

5 Net income/(expenditure) for the year

This is stated after charging:
Depreciation
Independent Examiner's fee
Payment of Trustees' travel expenses
6
Staff costs and numbers
The aggregate staff costs were:
Wages and salaries
Contract staff		 2024
£
76
1,032
-
1,108
2024
£
20,239
25,789
46,028		 2023
£
1,181
1,032
-
2,213
2023
£
18,705
21,168
39,873

No member of staff received emoluments of more than £60,000.

The average number of employees (headcount) during the year were 3 (2023: 3)

No trustees received remuneration during the year (2023: None).

7 Taxation

The charity is exempt from corporation tax on its charitable activities.

8 Tangible fixed assets

Cost
At 1 September 2023
Additions in the year
At 31 August 2024
Depreciation
At 1 September 2023
Charge for the year
At 31 August 2024
Net book value
At 31 August 2024
At 31 August 2023		 Fixtures &
Fittings
£
140
-
140
87
35
122
18
53		 Technical
Equipment
£
1,688
280
1,968
1,544
41
1,585
383
144		 Office
Equipment
£
268
-
268
268
-
268
-
-		 Total
£
2,096
280
2,376
1,899
76
1,975
401
197

14

THE INSPIRE ARTS TRUST

NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2024

9
Debtors
Prepayments
Other debtors		 2024
£
256
-
256		 2023
£
513
95
608

10 Creditors: amounts falling due within one year

Other creditors
Amount due to NGM Trust
Taxation and social security
Accruals and deferred income		 2024
£
2,398
1,639
155
15,393
19,585		 2023
£
348
8
114
4,147
4,617

11 Movement in funds

Year Ended 31 August 2024

Restricted funds
BALPA Bursary fund
Young Volunteers Programme
Quartet Foundation Grant
Early Help Grant
D'Oyly Carte Grant
Wellbeing Grant (One You)
Thornbury Town Council
Stoke Park
TTC Development Grant
SGC Area Wide Grant
Woodward Charitable Trust
SGC Cost of Living Grant
County of Gloucestershire Grant
SGC Food Fund
SGC Holiday Activity Fund
Stoke Park - Quartet Community
Society of Merchant Venturers		 1 September
31 August
2023
Income
Expenditure
Transfers
2024
£
£
£
£
£
7,120
1,176
(6,638)
594
2,252
107
1,037
(49)
-
1,095
536
-
(536)
-
-
1,984
-
-
1,984
744
-
(744)
-
-
668
-
(805)
137
-
540
-
(540)
-
-
2,177
-
(2,177)
-
-
3,000
-
(3,000)
-
-
2,000
-
(2,000)
-
-
-
1,100
(1,100)
-
-
-
1,200
(1,200)
-
-
-
419
(419)
-
-
-
1,100
(1,100)
-
-
-
1,078
(1,078)
-
-

-
1,978
-
-
1,978
-
5,200
-
-
5,200
16,892
16,272
(21,386)
731
12,509
Unrestricted funds
Designated - Inspire fundraising
General funds		 -
726
(132)
(594)
-
2,162
57,901
(55,006)
(137)
4,920
2,162
58,627
(55,138)
(731)
4,920
Total funds 19,054
74,899
(76,524)
-
17,429

15

THE INSPIRE ARTS TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

11 Movement in funds (continued)

Year Ended 31 August 2023

1
Restricted funds
BALPA Bursary fund
Young Volunteers Programme
Western Power Grant
Magic Little Grant
Quartet Foundation Grant
Early Help Grant
D'Oyly Carte Grant
Wellbeing Grant (One You)
Thornbury Town Council
Stoke Park
TTC Development Grant
SGC Area Wide Grant		 September
31 August
2022
Income
Expenditure
Transfers
2023
£
£
£
£
£
940
8,171
(1,991)
-
7,120
472
-
(365)
-
107
1,930
-
(1,930)
-
-
138
-
(138)
-
-
-
4,924
(4,388)
-
536
-
1,960
(1,960)
-
-
-
2,500
(1,756)
-
744
-
2,270
(1,602)
-
668
-
600
(60)
-
540
-
2,298
(121)
-
2,177
-
3,000
-
-
3,000
-
2,000
-
-
2,000
3,480
27,723
(14,311)
-
16,892
Unrestricted funds
Designated - The Foyle Foundation
General funds		 -
5,000
(5,000)
-
-
5,006
42,758
(45,602)
-
2,162
5,006
47,758
(50,602)
-
2,162
Total funds 8,486
75,481
(64,913)
-
19,054

BALPA Bursary fund

This fund represents donations given towards enabling disadvantaged young people to access all the courses and training we offer at a discounted rate, or free of charge through Bristol Academy of Performing Arts (BALPA).

Young Volunteers Programme

This fund represents various donations for our Young Volunteers programme to aim to train them in teaching skills and gain awards such as Arts Award, Dance Leadership Award, ASDAN Awards and more.

Western Power Grant

This fund represents a grant given to run holiday activity days for disadvantaged children, which included a healthy lunch being provided.

Magic Little Grant

This fund represents a grant given by Local Giving. This fund was for us to run a community open day in September 2022.

Quartet Foundation Grant

This grant was given to help cover bursary places for children whose families are in severe financial difficulty. Part of it was given for our partnership with Jigsaw (a local charity who work with children with additional needs) to cover the costs of 2 terms worth of classes for the children and provide training for our staff/contractors on working with children with additional needs.

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THE INSPIRE ARTS TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

11 Movement in funds (continued)

Early Help Grant

This was given from South Gloucestershire Council for the year 24/25 to help towards setting up pre-school aged dance classes to aid socialisation of pre-school aged children post the Covid pandemic.

D'Oyly Carte Grant

This has been given to help young people develop their instrument and vocal skills through classes and individual lessons.

Wellbeing Grant (One You)

This was given to help us set up adult dance classes in Thornbury and Cadbury Heath to help encourage people to move and to improve mental health as well.

Thornbury Town Council

This grant was given to help run a community open day in September 2023.

Stoke Park

This grant was given to help fund classes for children with additional needs in partnership with Jigsaw (a charity who work with children with additional needs).

TTC (Thornbury Town Council) Development Grant

This is given for 23/24 financial year to help Inspire develop networks with other organisations through the funding of the Inspire Co-ordinator.

SGC Area Wide Grant

This is from South Gloucestershire Council to help fund the growth of adult dance classes in 23/24.

Woodward Charitable Trust

This grant was given to help fund the Summer Activity days.

SGC Cost of Living Grant

This was given to reduce the cost of Street Dance Junior classes to allow parents to access these classes at a reduced cost and to allow bursary places to be given to familes in need.

County of Gloucestershire Grant

This was given towards fitness equipment for the Fitness for Sport classes with adolescent males

SGC Food Fund

This was given to help fund lunches for children during the Activity Days we run in Easter, May and Summer and to provide food parcels for families in need.

SGC Holiday Activity Fund

This was given to fund 110 bursary places for our summer activity days.

Stoke Park - Quartet Community Fund

This was given for 24/25 to fund our quiet class which is for children who struggle with noise and who may have additional needs.

Society of Merchant Venturers

This has been given for 24/25 to fund our work with the older generation (aged 50+) that we are starting.

The Foyle Foundation - Designated fund

This was an unrestricted fund given by The Foyle Foundation to help towards core costs and salaries.

17

THE INSPIRE ARTS TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

12 Analysis of net assets

Analysis of net assets
At 31 August 2024
Restricted funds
Unrestricted funds		 Tangible fixed
Other
assets
Assets
Total
£
£
£
-
12,509
12,509
401
4,519
4,920
Total funds 401
17,028
17,429
At 31 August 2023
Restricted funds
Unrestricted funds		 Tangible fixed
Other
assets
Assets
Total
£
£
£
-
16,892
16,892
197
1,965
2,162
Total funds 197
18,857
19,054

13 Related Party transactions

During the year the company was charged £16,602 (2023: £14,407) by the NGM Trust in respect of rent and administration expenses. The Inspire Arts Trust invoiced NGM Trust £36 (2023: £0) for costs incurred on their behalf. At the balance sheet date the charity owed £1,639 (2023: £8) to NGM Trust, a charity in which Mr R Collier-Keywood, Mr W McGinn, Mr S Cavanagh and Mrs H McGreavy are Trustees. Amounts due to NGM Trust are disclosed as £1,639 (2023: £8) of creditors falling within one year.

Key management personnel are the Chief Executive Officer and General Manager. Total benefits received by key management personnel and related parties during the year were £5,915 (2023: £4,788). Trustees exercise oversight of the key management personnel and there were no remuneration or benefits received by the Trustees or related parties during this financial year.

There are no related party transactions other than those already disclosed throughout the financial statements.

14 Company limited by guarantee

The company is limited by guarantee and as such has no issued share capital. In the event of the company being wound up the liability of the members is limited to £1 each.

18

THE INSPIRE ARTS TRUST

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2024

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15 Comparative Statement of Financial Activities
Unrestricted Restricted Total funds
£ £ £
Income from:
Donations and grants 5,481 27,723 33,204
Charitable activities 42,105 - 42,105
Other Income 172 - 172
Total income 47,758 27,723 75,481
Expenditure on:
Charitable activities 50,602 14,311 64,913
Total expenditure 50,602 14,311 64,913
Net income/(expenditure) (2,844) 13,412 10,568
Net movement in Funds (2,844) 13,412 10,568
Total funds at 1 September 2022 5,006 3,480 8,486
Total funds at 31 August 2023 2,162 16,892 19,054
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