Company l$tratIOn numr.. 04420519 Charity registration number., 1120239 Ashbourne Arts Limited (A company limited by guaTrntee) Annual Report and Financial Ststements for the Year Ended 31 August 2025 Coates and Partners Limited The Old Vicarage 515t John Street Asht#)ume Derbyshire DE6 IGP
Ashbourne Arts Limited Contents Referen and Administratfve Detsils Trustees, ReFQrt 2to5 ststement of Trustees, Responsibilitie5 Independent Examlnerfs ReFQrt 7t08 ststement of Financial Activities Balan Sheet iotoll Notes to the Financial Ststements 12to17
Ashbourne Arts Limited Reference and Administrative Details Trustees S G Liverman (resigned 7 April 2026) T A Challans J P R(xlgers A F Rosser C J Walker S A McQueen D J Millman J F S Bramhall (appointed 7 April 2026) K Fenton {appx)inted 7 April 2026) Secretary A F R055er Principal Office St John's Communlty Hall Off King Strt Ashbourne Derbyshire DE6 IEA Registered Offlce St John's Communty Hall Off Kin9 Street Ashbourne Derbyshire DE6 IEA The charity is incorporated in England and Wales. Company Registratlon Number04420519 Charlty Reglstratlon Number 1120239 Independent Examiner Coates and Partners Llmited The Old Vicarage 51 St John Street Ashts)ume Derbyshire DE6 IGP Page I
Ashbourne Arts Limited Trustees. Report The trustees, who are directors for the purposes of company law, present the annual port together with the financial statements of the charitsble company for the year ended 31 August 2025. ObJectlve$ and activitles Objects andaims The Charity's objective5 are to promote, encourage, malntsln and advance the education through the arts, including the art of music, singing, drama, literature, painting and visual arts. Including the promotion of concerts, perforrnan, exhibitions, workshops and other activities for the nerrt of the inhabitants of Ashlx)urne and surrounding district and those that visit the area. The trustees do this primarily, but not exclusively through an annual festival and an annual lantern prcKession. Publicbenellt The objects of the Company are to provide opportunities for both professional and non-profe55ional artists and the communty of Ashbourne and surrounding areas to come t(yJether for the initiation. organisation and promotion of artistic activities, including in particular through an annual festival, and to promote the benefits of the arts ger¢erally within this community. The trustees confimi that they have complied with the r4uirements of section 4 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales. Achievements and perforniance The charity was again able to organise and promote the Ashbourne Lantem Spectacular and to stage a -week summer cultural Festival. A full programme of lantern-making, dance and PUPFetry workshops with various schcx)l and community groups preceded the Christmas procession which - despite the threat of extreme weather attracted a record number of lantern carriers and large crowds. The list of organisations and ndividuals wishing to participate continues to grow, as doe5 the level and extent of favourable media coverage. A series of road dosures created by the Ashboume Rebom regeneration project presented some challenges to the Charity's establlshed format for its annual International Street tIval. Appointment of a professional events manager was effettive in navigating these difficulties and established collaboration from which to generate new ideas for the futu. In the longer term the project will bring excellent opwrtunities to use the town's public spaces more creatively but in the short term some local businesses have endured redLtionS in fcsjtfall and trade. The free events of the Festival succeeded in attrarting crowds of visitors back into the town, whilst ticketed events featLtred not only estsblished names but also international performers and local artists, b)th professional and amateur. Amongst many successes, IMO notable events were a performance of the popular Buena Vista Social Club and the staging of Pride & Prejud1 to mark the 250th anniversary of the birth of Jane Austen, The Company purchased additional stage equipment, allowing greater flexibility in accommodating futu events and the opportunity to support other arts organisations through loan or hire. Page 2
Ashbourne Arts Limlted Trustees, Report Finandal revlew The Directors of AShuMe Arts Limited have set a serveS FK)licy which requires.. ReseeS to be built up and maintained at a level whlch ensu that our core activity, of an annual festival, could continue during a Feriod of unforeseen difficulty. - A proportion of reserves be maintained in a readily realisable fomi. The calculation of the required level of reseNe5 be an integral part of the organisation's planning, budget and forecast with consideration being given to the risks associated with each stream of income and expenditure, the planned activity level and the organisation's commitments. Raising funds from individuals, businesses, charities and public bcxjies is a vital element in putting on the annual Festival and other activities. Incomes from Sponsors, Friends, Supporters and Patrons all improved compared with last year but ad hoc donations were noticeably lower due primarily to reduced cash collections. Given the one-off challenges to the Street Festival, this was not unexpected. Anticipating the disruptive effects of tOwn-ntre roadworks and likely adverse impart on attendances, the Company adopted a cautious approach to expenditure, committing lower amounts than last year to booking of higher profile perfornrs. ThefOre, whilst sales of tickets, drinks and merchandise all declined compared to last yearfs exceptional figures, this was more than offset by the decrease in total event expenses, enabling the Company to record a surplus in the Financial Year. Two grant applications for large artistic projetts were unsuccessful and the environment remains challenging. This is significant since such grants have historically included contributiorss to the Charity's overheads in addition to the direct costs of events. It remains important that reserves are adequate to meet these costs as well as absorbing the transitory negative cashflows that arise as a result of the outsourced ticket sales mcmjel. An enhanced partnership arrangement with Ashbourne Town Council delivered additional contributions that enabled increased spending on the Lantern Spertacular and associated costs. Page 3
Ashbourne Arts Limited Trustees, Report Plans for future periods Alms andkey objertives forfuture penods Whllst the Company's core aims and objectives remain consistent over time, risks and OPF()rtunitles have fjdentified that will influence the charity's operations. Although there has been some 105s of estsblished perf0mlan IcKations, investment in the town Is improving the availability and standard of other facilities particularly the 'Link' project - potentially rewarding MO collaborative ventures with organisations and businesses to identlfy and promote artistic performances and artivrties. To prepare for this opp)rtunity: The Charity's marketirtg has been analysed for reath and engagement to help improve future marketing strategies. The 'Friends of Ashlx)urne Arts, scheme is to be relaunched to engage more people In the community. Two months beforehand, the annual Festival is to have an official launch event In the Town's marketplace. Despite inflationary pressures and constraints on public 5FEnding, the Trustee5 will continue to seek grant funding which, along with self-generated revenue, would enable the Charity to undertske larger community-based arts projects. The Trustees are awa of the need to maintain relevant and diverse skrlls and perspertives within the Charity, and to that end are seeking artively to identify and recruit suitable new Directors and to broaden the demographic and professional profile of the Board. Golng Conrn Going forward the Trustees have considered the impact of significant risks on the Company and concluded that there are no material uncertainties related to events or conditions that cast doubt upon the Company's abilty to continue to adopt the going conrn basi5 of accounting. Strurturei governan and management Nature ofgoverning document The charity is governed by its memorandltm and articles of association dated 19th April 22, The constitution of the charity is that of a limited company. Recruitment andappolntment of trustees The Board of Directors when complete consists of at least five and not more than ten individuals, all of whom must members. One third (or the number nearest one third) of the Direttors must retire at each AGM, those longest in service retiring first and the choice iEtween any of equal Sery1 being made by drawing lots. Retiring Directors are eligible for re-election. Page 4
Ashbourne Arts Limited Trustees. Report The annual report was appro behalf by: ed by the trustees of the charity on 27 April 2026 and signed on its D J Millman Trustee Page 5
Ashbourne Arts Limited statement of Trustees. Responsibilitie5 The trustees (who are also the directors of Ashbourne Arts Limited for the purposes of company law) are responslble for preparing the trustees, rep)rt and the financial ststements in accordance with the United Klngdom Accounting Stsndards {United Kingdom Generalty Accepted Accounting Practi) and applicable law and regulations. Company law requires the trustees to prepare financial ststements for each financial year. Under company law the trustees must not appmve the financial ststements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of ils incomlng sources and application of resources, including its income and exFenditure, for that ttriod. In preparirtg these financial ststements, the trustees are required to: select suitable accountlng wJl(cies and apply them consistenuy; observe the meth¢xls and principles in the Charlties SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accounting Standards have been followed, subj'ect to any material departure5 disclosed and explained in the financial statements,. and prepare the financial Statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The tru5tee5 are responsible for keeping adequate accounting records that are sufficient to show and explain the charitsble company's transartions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements compty with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitsble company and hence for tsking reasonabSe steps for the prevention and detection of fraud and other irregularities. Approved by the trustees of the cha on 27 April 2026 and signed on its behalf by: D J Millman Trustee Page 6
Ashbourne Arts Limited Independent Examiner's Report to the trustees of Ashboume Arts Limited We report on the accounts of the charity for the year ended 31 August 2025 which are set out on pages 9 to 17 . Respective respon$lbilities of trustees and examiner The trustees (who are a150 the directors of the company for the purposes of company law) are responsible for the pparatIOn of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having sat15fied ourselves that the charity is not subject to audit under company law and is eligible for independent examination, it is our resp)nsibility to: examine the accounts under sectton 145 of the 2011 Act; to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act,. and to state whether particular matters have come to our attention. Basis of independent examiner's report Our examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also include5 consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees COnrning any such matters. The procedures undertaken do not provide all the evidence that would be reqLrired in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view, and the report is limited to those matters set out in the statement below. Page 7
Ashbourne Arts Limited Independent Examiner's Report to the trustees of Ashbourne Arts Limited Independent examinevs statement In connection with our examinats'on, no matter has come to our attention: {l)which give5 Us reasonable cause to LElieve that in any material resFect the requirements.. to keep accounting records in accordance wtth section 386 of the Companies Act 2006; and to prepare accounts which accord with the accounting records, comply with the cOUntIng requirements of sertion 396 of the Companies Act 2006 and with the methods and principles of the Ststement of Recommended Prattl,. Accounting and Reporting by Charities have not been met. or (2}to which, in our opinion, attentlon should be drawn in order to enable a proper understsnding of the accounts to be reached. Coates and Partners Limited Chartered Accountsnts The Old Vicarage 51 St John Street Ashb)urne Derbyshire DE6 IGP 27 April 2026 Page 8
Ashbourne Arts Limited Statement of Financlal Activities for the Year Ended 31 August 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Total 2025 Total 2024 Note Income and Endowments from: Donations and legacies Charitsble actNities 30,778 30,778 29,410 Totsl Income Expenditure on: Charitsble activities Total Expenditure Net income Net movement in funds 9,909 9,909 1,322 Reconciliation of funds Total funds brought fomard Totsl funds carried forward 12 All of the charity's artivities derive from continuing operations during the above tr40 periods. The fur¢ds breakdown is shown in note 12. Page 9
Ashbourne Arts Limited (Registration number: 04420519) Balance Sheet as at 31 August 2025 2025 2024 Flxed assets Tanglble assets 5,128 5,615 Current assets Debtors Cash at bank and ir¢ hand 1,077 2,244 50,750 40,324 Creditors: Amounts falllng due withln one year io Net current assets Total assets less Current liabilities 54,576 44,679 Creditors: Amounts falling due after more than one li 33 45 Net assets Funds of the charlty: Unrestricted income funds Unrestricted fvnds Total funds 12 Page 10
Ashbourne Arts Limited (Registration number: 04420519) Balance Sheet as at 31 August 2025 For the financial year ending 31 AugUSt 2025 the charity was entitled to exemption from audit under section 477 of the Companies Att 2006 relating to small companies. Directors, responsibilities.. The members have not required the charty to obtsin an audit of its accounts for the year in questlon in accordance with section 476- and The directors acknowledge their resFor¢sibilities for complying with the requirements of the Act with resFect to accounting records and the preparation of accounts. These accounts have teen prepared in accordance with the provlslons appllcable to companles subject to the small companies regime. The financial statements on pag 27 April 2026 and signed on t eir 0 17 were approved by the trust$, and authorised for issue on half by.. D J Millman Trustee Page 11
Ashbourne Arts Limited Notes to the Financial Statements for the Year Ended 31 August 2025 I Charlty status The charity is a charity limited by guarantee and consequently does not have share capitsl. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 2 Accounting pollcles Summary of signlflcant accounting poliaes and key accounting estimates The principal accounting tx)licies applied in the preparation of these financial ststements are set out below. These p)licies have been consistently applied to all the years presented, unless otherwise stated. Statement of compliance The financial statements have b*n prepared in accordan with Accounting and RepJrting by Charities: Statement of Recommended Practice applicable to charities pparIng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FR5 102) (effertive l January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. Basls of preparation Ashbourne Arts Limited meets the definition of a public teneftt entity under FRS 102. Assets and liabilities are initially recojnised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Exemptlon from preparing a cash flow ststement The charity opted to early adopt Bulletin I published on 2 February 2016 and have therefore not included a cash flow statement in these financial statemerbts. Income and endowments All income is recognised On the charity has entitlement to the income, it is probable that the income will te received and the amount of the income receivable can I measured reliably. Donations andlegacles Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performarice by the charity before the charity is entitled to the fLtnds, the income is deferred and not recognised until either those conditions are fully met, or the f4Jlfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period. Page 12
Ashbourne Arts Limited Notes to the Financial Statements for the Year Ended 31 August 2025 Grants receivable Grants are recognised based on the accrual mcdel and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognlsed as deferred income. Donated seThkes arnlfaclllties Donated services and facilities are not rectsjnised in the accounts but they are acknowledged in the published material and website. Expenditure All expenditure is recognised once there is a legal or constrLKtive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable exFendItU heading that aggregate similar costs to that category. Where costs canrt be directly attributed to particular headings they have en allocated on a basis consistent with the use of resources, with central stsff costs allcKated on the basis of time sFent, and depreciation charges allc£ated on the portion of the asseys use. Other support costs are allocated based on the spread of 5tsff costs. Charitable activltles Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such actNlties and those costs of an indirect nature esSary to supp)rt them. Depreciation and amortlsation Depreciation is provided on tsngible fixed assets so as to write off the cost or valuation, le55 any estimated residual value, over their expected useful economic life as follows.. Asset das$ offi equipment Plant and machinery Depreciation method arbd rate 33% straight lirse 25% reducing balan Fund structure Unrestricted income funds ère general funds that are available for use at the trustees, discrelion in furtherance of the objectives of the charity. Page 13
Ashbourne Arts Limited Notes to the Flnancial Statements for the Year Ended 31 August 2025 3 Income from donatlon$ and legacies Unrestricted funds Total 2025 Total 2024 General Donations and legacies,. Donations Donations from friends, supporters and patrons Grants, including capitsl grants; Government grants 6,248 18,615 6,248 18,615 8,173 12,910 4 Income from tharitable actlvltles Unrestrl¢ted funds Totsl 2025 Total 2024 General Bar income Ticket sales Art sales and other attivities 6,730 32,944 6,730 32,944 7,642 39,381 Page 14
Ashljourne Arts Limited Notes to the Financial Statements for the Year Ended 31 August 2025 S Expenditure on tharitable activities Artivity undertaken direcdy Total 2025 Total 2024 Event expenses Estsblishment costs offi costs Subscriptions and donations Advertising and promotion Accountsncy fee5 Insuran Depreciation of tsngible assets Bank charges 47,769 2,880 3,613 170 5,480 1,297 1.453 2,391 203 47,769 2,880 3,613 170 5,480 1,297 1,453 2,391 203 62,525 2,880 3,564 165 5,256 1,221 1,332 1,770 195 £65,256 {2024 - £78,908) of the above expenditure was attributable to unrestricted funds and £Nil (2024 - £Nil) to restricted funds. Page 15
Ashbourne Arts Limited Notes to the Financial Statements for the Year Ended 31 August 2025 6 Trustees remuneration and expenses No trustees, nor any persons connected with them, have received any MUneratIon from the charity during the year, No trustees have recelved any other tsenefits from the charity during the year. 7 Taxation The charity is a registered charity and is therefore exempt from taxation. Tanglble fixed assets Furniture and equipment Total At I September 2024 Additions Disposals 20,461 1,905 552 20,461 1,905 At 31 August 2025 Depreclation At I September 2024 Charge for the year Eliminated on disposals At 31 August 2025 14,846 2,392 552 14,846 2,392 552 Net book value At 31 August 2025 At 31 August 2024 9 Debtors 2025 2024 Trade debtors Prepayments 1,150 Page 16
Ashbourne Arts Limited Notes to the Financial Statements for the Year Ended 31 August 2025 Iocreditors: amounts falllng due wlthln one year 2025 2024 Other creditors Accruals 12 15 11 Creditors: amounts falling due after one year 2025 2024 Other creditors 33 45 12Funds Balance at I September 2024 Balance at 31 August 2025 Incomlng resources Resources expended Unrestricted funds General 65 256 Balance at I September 2023 Balance at 31 August 2024 Incoming resources Resources expended Unrestricted funds General 78 908 Page 17