KIRKGATE ARTS (A CHARITABLE COMPANY LIMITED BY GUARANTEEI FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2025 Company registration number.. 06632306 Charity registration number: 1126602 Lamont Pridmore KIRKGATE ARTS LEGAL AND ADMINISTRATIVE INFORMATION for the Year ended 31st March 2025 Chair Mr Robert Higgins Trustees Mr Robert Pritchard Mr Andrew Semple (resigned 05.06.24) Mrs Susan Moses Mr Robert Higgins Ms Suzanne Cliff Mr Michael Billinghurst, Treasurer Ms Christine Slater Mr Joe Fagan (appointed 07.08.24} Mr John Reynolds Company Secretary Mr Robert Higginslmr Duncan Cadge Principal Office The Kirkgate Centre Kirkgate Cockermouth Cumbria CA13 9PJ Company Registration Number 06632306 Charity Registration Number 1126602 Bankers Cumberland Building Society Cumberland House Castle Street Carlisle Cumbria CA3 8RX 2a KIRKGATE ARTS TRUSTEES. ANNUAL REPORT For the Year ended 31st March 2025 Introduction The Trustees, who are directors for the purposes of company law. present the annual report together with Ihe financial statements of the charitable company for the year ended 31. March 2025.. Mr Robert Higgins {Chair) Mr Michael Billinghurst (Treasurer) Mr Robert Pritchard Ms Susan Moses Ms Suzanne Cliff Ms Christine Slater Mr John Reynolds Mr Joe Fagan In preparing the annual report and financial statements of the charity, the Trustees have adopted the provisions of the Statement of Recommended Practi￿ (SORP) "Accounting and Reporting by Charities issued in March 2005, and Ihe requirements for a Trustees, report and accounts for Companies Act purposes. The financial statements comply wilh the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). The Trustees have complied with the duty in Section 7 of the Charities Act 2011, giving due regard to public benefit guidance published by the Charity Commission. Our income in the year ending 31, March 2025 totalled £596,276 with expenditure of £346,260 incurred during the period. The result for the year was a surplus of £250,016. Kirkgate Arts and Heritage: Overview Our Mission and Values Our MTssion is to ensure that creative talent is valued, developed and supported with opportunities for all to actively engage with and enjoy the arts, our local heritage and Gommunity life. Our Values are Commitment- our staff and volunteers are dedicated to delivering our mission. Accessibility- we aim to make arts, heritage and culture accessible and inclusive to all the communities of West Cumbria. Sustainability - we aim to ensure that the organisation is secure for future generations from both financial and environmental perspective. Nurturing - we aim to provide an environment that encourages growth, development of skills and confidence and enjoyment for all. We operate across the geographical area covered by the recently-fomed Cumberland Council, an area that includes West Cumbria, where the arts and culture infrastructure is weak Compared to other parts of the UK. Per capita spend on arts and culture is among the lowest in the UK and our Mission is to Gonlribute to changing this. We own and run the Kirkgate Centre. a multi-purp05e cultural hub housing a theatre and community centre in Cockermouth, originally built as a school in the 1880s. We also own an adjacent site which used to house the Dement Athletics Club (demolished in May 2024), which we hope to develop in Ihe Goming years to increase our capabilities (please see 'Our Plans for the Future, section later in this report). We also run an Arts Council England Nalional Portfolio Organisation, Arts Out West, through which we organise tours of professional performers around Cumberland's village halls, libraries, and community centres. We work wilh local volunteer promoters to put on shows, exhibitions and workshops which are social as much as cultural. The NPO has recently been extended by the Arts Council from 3 to 4 years, ending in 2027. 2b KIRKGATE ARTS TRUSTEES. ANNUAL REPORT For the Year ended 31st March 2025 Our 2022-2027 Strategy Our main strategic aims are.. To provide high quality arts and heritage events each year., To continue to deliver events in community centres across Cumberland; To provide facilities for community and social activities and events-, To continue the improvements of the Kirkgate Centre to improve our operations, eamed in¢ome, user experience and the reduction of carbon emissions., To create facilities for, and improve access to, our local history collection. Our Staff and Volunteers The work of our charity is delivered by a small number of staff working alongside a significant number of volunteers. In 2024125 we had five staff.. full-time General Manager and Operations Manager, with part-time Finance and Administration Officer, Community Projecls Officer, and Caretaking Assistant. A team of volunteers operate much of the business, providing box office and front of house staffing, film projection, bar management, oversighl of safety and maintenance, programming, office administration, publi¢ily and fundraising. An audit in 2019 showed that volunteers contributed nearly 8,000 hours a year at the Kirkgate Centre, with further substantial input from the volunteer village hall promoters of the Arts Out West programme and the volunteers at Community venues participating in other Kirkgate-run projects. 2025 marked our 30 anniversary as an organization.. a milestone we would never have made without the dedication of our staff and volunteers. The Board of Trustees would like to thank all of our staff and volunteers who together make the work of Kirkgate Arts and Heritage possible. What We did in 2024125 Programming and projects Arts and Entertainment Our arts and entertainment programme continues to develop. with approximately 400 events delivered during 2024125. Cinema is held 3 days a week whilst we have live streaming from the National Theatre whenever it is available. Comedy continues to be a popular part of our offer. Our programme of music gi95 has been substanlially developed. The popular monthly jazz Goncerts continue, and we also provide a wide programme of music across all genre5. These gigs take place both in the auditorium and in the Egremont Room. As well as professional musicians we are pleased to support local artistes as they develop their careers. Our open mic and Poetry Out Loud evenings continue to be well supported. In September 2024 we relaunched the open mic as The Sunday Sessions with a Sunday atternoon time slot. This has encouraged a more diverse and larger number of performers to attend. We a150 host regular special events such as Fever Drag Cabaret and Singing With the Star5 which have expanded our audience appeal into new areas. Wild Zucchini5 Started to host their world food nights at the ¢enter during this year. Our Monthly Markets and Craft at the Kirkgate initiative which brought crafting classes to the Kirkgate continued. After many years of successful sales of nearly new ladies, clothing under our CockfroGk brand we launched our Kirk Kit sale for the first time in September giving people the opportunity to register to sell ouldoor or sporting clothing and equipment. In My Shoes This Project is a community heritage project funded by the Heritage Lottery Fund. It aims to look at the cultural herilage of West Cumbria and give the participants the opportunily lo share and celebrate aspects of their own cultural heritage. The project continued for the first 6 months of this year with more diverse programming inGluding Malin Lewi5 playing at the centre and at Kirksanton village hall, bringing the Half Moon theatre show of Ten In The Bed for a schools performanGe in the centre and Stolen from God the slave trade song cycle from Reg Meuross with Sutou Susso and Cohen Braithwaite-Kilcoyne. The youth theatre continued their work on origins and belonging and 2¢ KIRKGATE ARTS TRUSTEES, ANNUAL REPORT For the Year ended 31st March 2025 performed their final peace as part of the Cockermouth Live Festival at the start of July. In August we mounted an exhibition at the centre entitled offcomers which explored the stories of a number of people who ended up living in Cockermouth for diverse reasons. Alongside the exhibition we commissioned some spoken word work5 from Emma McGordon and Jessie Bins which were performed during the exhibition. Cooking at the Kirkgate This project is funded by the National Lottery Community Fund and aims to use our new kitchen facilities to give people access to workshops whère they can learn a variety of cooking skills, some of these are very basic and others are more advanced or fun and aimed at families. This project has also paid for the building of two ralsed beds outside of the centre that were planted by the local pre school. This year the project continued with workshops involving Mayfield 6th form as well as the established monthly sessions. Mayfield were also involved in a project to create labels to mark what is growing in the raised beds. Brewing Project We had funding from the Shared Prosperity Fund to carry out a project from the beginning of August to the end of December, celebrating the history of brewing in Cockermouth and surrounding area. The project used research based on the heritage collection and community engagement to develop an exhibilion entitled Taste of the Lake District, a series of heritage walks and talks and a terms worth of youlh theatre activity ending in a final performance at the centre just before Christmas. The project was very well received by the community, and we got high levels of engagement with all of the activities that were planned during the project. Arts Out West This year saw 40 perfomiances delivered in 24 village halls and libraries across Cumberland. The varied programme included two dance shows from the Rural Turing Dance Initiative Shed and Jack and Friends, Theatre By The Lakes wonderful lo¢al story Steel. George eggs cooking and comedy show, Opera for the people the singing show that is different every night because the audience choose the set list and Tango Calor the wildly popular tango trio. We worked with Ragged Edge Productions to develop their puppet musical concept which has since toured with Arts Out West and other rural touring scheme. Katy has led on making changes to the administrative systems around Arts Out West to help more efficient running of the scheme. These changes have all been well received by the promotors. Heritage Group The Heritage group have continued to meet monthly. A large part of their work is ¢ompleting family history research on behalf of others and answering local history queries. they have a dedicated Facebook page and contribute a monthly article on a variety of aspects of Cockermouth's history to the Kirkgate Quarter Chronical (our newsletter). In October we reslarted our monthly program of guided walks and talks which have included the very popular lost pubs of Cockermouth and Cockermouth before the Romans. During the first few months of Ihe year the group were still working on the Offcomers Exhibition that celebrated the many journeys to Cockemiouth and was part of the In My Shoes Project. They then started work on the brewlng exhibition that was mounted in mid-December and was very well received by the public. We started a monthly reminisces session program. During these informal sessions items from the collection are used as prompts for conversations to encourage discussion about local history topics. Youth Theatre The Youth Theatre performed their final piece of the In My Shoes project at Cockermouth Live wrth the younger group dealing with three traditional migration stories and the older group telling their own tale of siblings separated and the consequences of the separation. During the autumn term they moved on to working on the Brewing project and developed stories illustrating the history of brewing in the town. The younger group covering traditional legends surrounding brewing and the older group covering the history of Jennings and what it has meant to the town. Both pieces were performed in the centre just before Christmas. 2d KIRKGATE ARTS TRUSTEES, ANNUAL REPORT For the Year ended 31st March 2025 Community and Commerclal Events Engagernent Many commercial and community clients hire the Egremont Room and theatre to provide activities. These include Pilates, U3A. Karate, Historic Fencers. The Richmond Fellowship, Cumbria Carers, Sound Wave (Regular users) National Trust and United Utilities, The Highways Agency and Thomas Armstrong (more occasional users), We are home to Cockermouth Round Table's highly popular annual Beer Festival and are partners in Cockermouth Livel the town's quirky annual summer weekend of live music and other performances, hosting the headline Friday and Saturday night events. Both festivals took place in 2024. Cockermouth Amateur Dramatics Society used the center for one of their shows during this period. Upgrades to the Kirkgate Centre 2024125 saw us embark on the major capital upgrade project funded by the Arts Council with match funding from Shared Prosperity Fund (administered by the Copeland Community Fund) and the Benny Walker Foundation. The following aspects were completed. The auditorium was closed for the first three months of 2025 to allow the work in that space lo take place. During that period we continued to program into the Egremont Room LED lighting installation throughout the Centre to reduce power consumption-, Replace auditorium and stage lighting system., Create an accessible toilet on the first floor.. Create a new staff office (staff displaced by accessible toilet); Extensive Lift refurbishment and upgrading. The work to Replace audilorium and backstage ventilation system was not completed by the end of the year. Preparation for Kirkgate Heritage Extension We submitted an application to the National Heritage Lottery Fund to secure funding for the initial work on the collection and community engagement. The next Step would be to commence design work and planning application for a building on the site of the Athletics club. Unfortunately, this application was unsuccessful. A contractor was engaged lo demolish the Athletics Club building and to dispose of the asbestos panels forming part of the interior Iwork carried out May 20241. This work was part-funded by a very generous donation frorn a private donor. Thank you We would like to thank all our funders, donors and supporters for their financial support during the year. In particular we are grateful for a donation from the Foyle Foundation of £15,000 towards operating costs. Financial performance During this period we received grants totalling £426,400 . for which the Trustees are extremely grateful. Our commercial income, Ihrough room hires and other trading, totalled £140,929. Donations from supporters totalled £20,848. We ended the year with a net surplus of £250,016. The finances of the charity are explained in greater detail in the attached annual accounts. Charity structure, governance, and management Board of Trustees Kirkgate Arts and Heritage is managed by a Board of Trustees. The Trustees are also DIre￿orS of the company, Kirkgate Arts Limited. During the year the Board met every other month to maintain ongoing work guiding the strategic direction of Ihe business. All decisions regarding corporate governance are made by, and are the responsibility of, the Board of Trustees. A minimum of three and a maximum of ten Trustees are provided for in the incorporation and charity documen15. The Board actively encourages supporters to become members of the limited company and attend the AGM to strengthen the organisation and the accountability of the Board. 2e KIRKGATE ARTS TRUSTEES, ANNUAL REPORT For the Year ended 31st March 2025 Trustees are appointed from the local community following a successful interview (and receipt of favourable references if the individuals are unknown to Kirkgate Arts and Heritage). The expectations of the Trustees are clearly documented and, like the staff and volunteers of Kirkgale Arts and Heritage, Trustees follow a clear sel of procedures and policies, which are regularly reviewed. Trustees do not receive any benefits. Structure of sublprovided by investing activities (250,492) (37,460) Increasel(decrease) in cash and cash equivalents in the year 1,080 (29,620) Cash and cash equivalents at the beginning of the year 136.536 166,156 Totsl cash and Gash equivalents at the end of the year 137,616 136,536 All of the cash flows are derived from continuing operations during the above two years. KIRKGATE ARTS NOTES TO FINANCIAL STATEMENTS For the Year ended 31st March 2025 General information The charity is a private company limited by guarantee, registered in England and Wales and a ￿gIStered charity in England and Wales. The address of the regislered office is The Kirkgate Centre, Kirkgate, Cockermouth, Cumbria, CA13 9PJ. Accounting policies Summary of significant accounting policies and key accounting estimates The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. Basis of accounting The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 2019) - (Charities SORP {FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Kirkgate Arts meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant aG¢ounting policy note. Going concern The charity continues to adopt the going concern basis in preparing its financial statements and is confident it can continue to do so for the foreseeable future. Judgements and key sources of estimation uncertainty The preparation of the financial statements requires management to make judgements. estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and olher factors, including expectations of future events that are believed to be reasonable under Ihe circumstances. The financial statements have been prepared on the going concern basis. Incoming resources Voluntary income including donations. gifts, legacies and grants that provide core funding or are of 8 general nature is recognised when the Charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability. Donations and legacies Donations and legacies are recognised on a receivable basi5 when receipt is probable and the amount can be reliably measured. Grants receivable Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is reGogni5ed as a liability and included on the balance 5heel as deferred income to be released. Income received from capital grants, to which the funds have been spent and the corresponding asset capitalised in year. are written down by depreciation over the expected useful life of the asset. The remaining fund balance, in this case 'designated funds,, at the year end is the residual value of the capitalised funds and therefore are not actual liquid funds available to the charity. Investment income Investment income is recognised on a receivable basis. KIRKGATE ARTS NOTES TO FINANCIAL STATEMENTS For the Year ended 31st March 2025 Accounting pollcies (Continued) Resources expended All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the assel's use. Other support costs are allocated based on the spread of staff 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 activities and those costs of an indirect nature necessary to support them. Taxation As a registered charity the company benefits from rates relief and is generally exempl from Corporation Tax and Capital Gains Tax. Tangible fixed assets Individual fixed assets costing £500 or more are initially recorded at cost. Depreciation and amortisation Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows.. Asset class IT and office electronic equipment Fixtures and fittings Light and sound equipment Depreciation method and rate Written off over 3 years straight line Written off over 5 years straight line Written off over 7 years slraight line Stocks Stock is not considered material and so is not disclosed wthin this years figures. Trade debtors Trade debtors are amounts due from cuslomers for merchandise sold or services performed in the ordinary course of business. Trade deblors are recognised initially at the transaction price. They are subsequently measured at amortised ¢ost using the effective interest method, less provision for impairment. A provision for Ihe impairment of trade debtors is established when there is objective evidence that the Charity will not be able to collect all amounts due according to the original terms of the receivables. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Trade creditors Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilitie5 if Ihe Charity does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least ￿e1ve months after the reporting date. If there is an unconditional right to defer settlement for at least ￿e1ve months after the reporting date, they are presented as non-¢urrent liabilities. KIRKGATE ARTS NOTES TO FINANCIAL STATEMENTS For the Year ended 31st March 2025 Accounting policies (continued) Fund accounting Unrestricted inGome funds are general funds that are available for use at the trustees, discretion in furtherance of the objectives of the Charity. Designated fLsnds are unrestricted funds are resources set aside for specific purposes at the discretion of the trustees. Restricted income funds are those donated for use in a particular area or for specifi¢ purposes, the use of which is restricted to that area or purpose. Voluntsry income: Grants and donations Unrestrlcted Restricted Funds Funds Total 2025 Totsl 2024 Donations and legacies Donations from individuals 20,848 20,848 8,956 Grants, including capital grants Grants from government bodies, other charities & local authorities.. Revenue grants Capital grants - funds spent in year 215,325 211,075 215.325 211.075 216,279 447.248 447,248 225,235 Incoming resources from charitable activities Unrestricted Restricted Funds Funds Total 2025 Total 2024 Membership fees- Arts Out West Ticket sales and admissions Venue hire fees Bar sales 690 93.472 14.207 32,560 690 93.472 14,207 32,560 1,128 79,369 16,861 29,759 140,929 140,929 127,117 Investment income Unrestricted Restricted Funds Funds Totsl 2025 Total 2024 Interest receivable on bank deposits 3,582 3,582 3,577 10 KIRKGATE ARTS NOTES TO FINANCIAL STATEMENTS For the Year ended 31st March 2025 Expenditure on charitable activities UnrestriGted Restricted Funds Funds Totsl 2025 Total 2024 Cost of bar sales Perfomance fees and licences Heritage Group Wages and salaries 94,036 Employer national insurance 2.342 Pension contributions 1,943 Contract labour 177 Training 1,311 Travelling 704 Light, heat & water 10,358 Insurance 7,132 Building and equipment maintenance 74,059 Administration expenses 1,723 Equipment rental 1,560 Telephone and fax 1,980 Advertising and marketing 8,227 Accountancy fees 8,863 Computer Gosts 3,439 Professional fees 1,038 Bank charges 2,045 Depreciation fixtures and fittings 75 Depreciation - IT and office electronic equipment 1,332 Depreciation light and sound equipment 1,422 10,153 106.624 10,153 106,624 678 94,036 2,342 1,943 177 1,311 704 10,358 7,132 74,059 1,723 1,560 1,980 8,227 8,863 3,439 1,038 2,045 75 1,332 1,422 13,354 104.637 381 90,387 2,071 1,873 96 816 509 21,253 6,153 33,121 1,880 1,368 2,016 8,741 5,486 2,799 880 2,008 131 926 7,103 678 340.543 678 341.221 307,989 Unrestricted Designated Funds Total 2025 Total 2024 Depreciation - property 5,039 5,039 5,042 5,039 5,039 5,042 11 KIRKGATE ARTS NOTES TO FINANCIAL STATEMENTS For the Year ended 31st March 2025 Net outgoing resources for the period 2025 2024 This is stated after charging.. Depreciation of tangible fixed assets 7,868 13,202 Staff costs and trustees, remuneration 2025 2024 Staff costs include the following.. Wages and salaries Social security costs Pension costs 94,036 2,342 1,943 90,387 2,071 1,873 98,321 94,331 The average number of persons (including senior management team) employed part time and full time during the year was: 2025 Number 2024 Number Total number of staff No trustees, nor any persons connected wrth them, have received any remuneration from the charity during the year. None of the trustees received any reimbursed expenses or any other benefit5 from the charity during the year. No employee received emoluments of more than £60,000 during the year. 12 KIRKGATE ARTS NOTES TO FINANCIAL STATEMENTS For the Year ended 31st March 2025 Tangible fixed assets Freehold property Integral Features Plant and Fixtures and machinery fittings Equipment Total Cost At 1 Apr 2024 Addilions 251,966 16.727 91.434 138.757 27,307 22.634 1,216 393,341 254.074 97,374 At 31 Mar 2025 268,693 97,374 230.191 27,307 23,850 647,415 Depreciation At 1 Apr 2024 Charge for the year 23,160 5.039 87,954 1.422 27,082 75 20,781 1,332 158,977 7,868 At 31 Mar 2025 28,199 89,376 27.157 22,113 166,845 Carrying amount At 31 Mar 2025 240,494 97,374 140,815 150 1,737 480.570 At 31 Mar 2024 228,806 3,480 225 1,853 234,364 The freehold and property was devalued according to a valuation of £190,000 provided in May 2019 by Walton Goodland Chartered Surveyors, 10 Lowther Street, Carlisle, Cumbria, CA3 8DA.- this value has been adopted as deemed cost of the assets concerned under FRS 102. Under FRS 102 the company will perform revaluations wth sufficient regularity such that the carrying amount does not differ materially from the fair value at the balance sheet date. 10 Debtors 202S 2024 Amounts falling due within one year Trade debtors Prepayments and accrued income Accrued income 1,005 5,508 31,555 1,194 6,464 38,068 7,658 11 Creditor5: amounts falling due within one year 2025 2024 Trade creditors Taxation and social security Other creditors Accruals 37,818 1,634 3,668 5,064 6,268 1,553 7,802 4,881 48.184 20,504 13 KIRKGATE ARTS NOTES TO FINANCIAL STATEMENTS For the Year ended 31st March 2025 12 Operating leases The total future minimum lease payments under non-cancellable operating lease5 are as follows.. 2025 2024 Not later than 1 year Laler than 1 year and not later than 5 years 1,368 1,368 1,368 1.368 2,736 13 Company status The charity is a company limited by guarantee and consequently has no share capital. Each of the trustees is liable to contribute an amount not exceeding £1 towards the assets of the charity in the event of liquidation. 14 Pension scheme Defined contribution pension scheme The charity operates a defined contribution pension scheme. The pension ¢ost charge for the year represents contributions payable by the Gharity to the scheme and amounted to £1,943 (2024 £1,873). Contributions totalling £379 (2024.. £363) were payable to the scheme at the year end and are included in creditors. 15 Statement of funds The movement in the year is as follows: At 01.04.24 Income Expenditure Transfers At 31.03.25 Unrestricted general funds General unrestricted fund 177,690 385,201 {345,582) 217,309 Total unrestricted funds 177.690 385,201 (345,582) 217,309 Unrestricted designated funds Property fixed asset reserve 178,733 211,075 389,808 Total UnrestriGted des'ed funds 178,733 211,075 389,808 Restricted funds Heritage - Georgian Fair Group 1,631 {678) 953 Total restriGted funds 1,631 (678) 953 Total funds 358.054 596,276 (346,260) 608,070 14 KIRKGATE ARTS NOTES TO FINANCIAL STATEMENTS For the Year ended 31st March 2025 15 Funds The specific purposes for which the funds are to be applied are as follows.. GeorgTan Fair Group A donation from the Cockermouth Georgian Fair organising group for heritage related activities. 16 Analysis of net assets between funds Unrestricted Unrestricted designated Restricted Funds Funds Funds Total Fixed assets Current assets Current liabilities 121,364 144,129 (48,184) 358,253 31.555 953 480,570 175,684 (48.184) 217.309 389,808 953 608,070