Registered number. 07105916
Charily number. 1135692
THE ANTEROS ARTS FOUNDATION
(A Company Llmlted by Guarantee)
UNAUDrrED
TRUSTEES. REPORT AND FINANCIAL STATEMEpirs
FOR THE YEAR ENDED 31 DECEMBER 2023

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
CONTENTS
Page
R•ltrèncè and Admlnlstratl¥• Dètalls of tht Charlty. Its Trnstèos and Advlsèrs
Trusteos. Rtport
Independent ÉxamlneV$ Report
Statem•nl ol Flnanclal Acllvllles
Balanc• Sh•el
Nol•• to lh• Fln•nclal Stat•m•nl•
10- 21

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTrATIVE OEfAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2023
Trust••s
M Kurrein {appointed l January 20231
B Peckitt {resigned 23 February 2024)
S A Potts
B Saller
H Wells (appointed 31 October 20231
Company rtglstèrod
numb•r
07105916
Charlty r•glstér•d numbèr 1135692
Reglslered offl¢e
7-15 Fye Bridge Streel
Norwich
Norlolk
NR31LJ
Accounlanl
BW Audit Limile
Charterèd Accountants
Berry & Warren
54Thorpe Road
Norwich
NRI IRY
Page 1

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2023
The Trustèes prèsent thèir annual rèport togèthèr with the linancial statements ol Ihe charity lor the year I
January 2023 to 31 Oecember 2023. The Annual Report serves the purposes of both a Trustees. report and a
dirèctors, report under company law. Thè Trusteès confirm that thè Annual Report and finantièl statemènts ol
the charitable company comply with the currenl statulory requirements, the requirements ol the charitable
ompanls governing document and the provisions ol the Statement ol Recommended Practice ISORPI
applicable to charities preparing their accounts in aecordance with the Financial Reporting Standard applicable
in the UK and Republic of Ireland IFR51021 (effective l January 2019).
Since the charity qualifies as small under seclion 382 01 the Companies Act 2006, the Stralegic Report required
of medium and large companies under Ihe Companie5 Act 2006 Islralegic Report and Direclor5' Report)
Regulations 2013 has been omitted.
Obl•ttlv•s and actlvltlos
•. Pollcl•s Ind obl•ctlv••
The principal objective ol the charity is to advance educalion in Ihe art5 lor the public benefit.
In selling objective5 and planning for activilies, the Truslees have given due con5ideralion to general guidance
published by the Charity Commission relating lo publi¢ benelil. in¢luding the guiéan¢e 'Publlc benefll.. running a
charity IPB21'.
b. Actlvlll•s undortak•n to achl•vo oblocllvèi
The charity and ils subsidiary provide èn opportunity lor local and national artists lo èxhibit in thè two gallèry
rooms, host music events and provide teaching spaces lor a wide variety of classes and workshops. The charity
also directly 5upport5 Over twenly artls15 with allordable individual and shared studi05 and has Space lo hire
lor weddings. meetings and parties.
The charity aims to..
oller quality fine arts courses lor all levels ol praclice
exhibit a diverse and varied selection ol fine arl exhibitions Ihal are Iree to enter and reasonably priced lor
artists
programme a variety of high quality music events al affordable prices
strive, where possible. to oller opporlunities lor learning alongside our exhibitions
promote social inclusion through the arts by providing a safe, informative and friendly place to visil
oller opporlvnities to engage with art lor all ages
Page 2

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES. REPORT (COTrfflNUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Achl•v•ments and pèrformancè
a. Maln achltvtm•nls ol the charlty
2023 was a dillitult but nècèssary yÈar lor Antèros Arts Foundation. Early in thè yèar. thè thèn Gèneral
Manager lelt. giving vèry little notice.. with Ihe trustees assistance, the Chair stepped in to cover the role lor a
couple of months, al which lime il became clear Ihal the adminislralive processe5 and bookkeeping practice5 01
the charity were in signilieanl neglect. A new General Manayèr was appointed in May, bringing a 16-yèar careèr
in arts administration with him. and. in consultation with the board, radical. long-range changes were
implémèntèd in an èllort lo ¢urtail organizalional decline. the erosion of many of tsur key relationships. and
ongoing damage to the buildings that house us.
A cemplètè overhaul of our bookkèepiny. financial reporting and information gathèring., long-nèedèd rèpairs
and renovations to ageing building inlrastruclure: the engagement of solicitors and surveyors to assist with
tenancy and leasing concerns., and a much-needed relraining and reinvigoration of staff...2023'5 pre551ng
priorities were unavoidablè but expensive. and thè èllecl on our cash reserves is reflected in the accounts lor
the year.
However, with the commitment and lenacily ol the new General Manager. we've found a surer - albeit tenuous
fooling, key lo which have been the raft of change5 we've made to our linancial regimes. Since May 2023, we..
contracted a prolessienal bookkeeper lor two-months to repair and improve our mastery of QuickBooks
(gaining a cleaner vnderslanding ol our hislorical linances, back to 20201
created a robust QuickBooks-based 2024 Budget, implemented monthly P&L reports and balance sheets.
and dynamically re-budgeled Ihe year as our data and undèrstanding grew
engaged a voluntary Financial Consultant (with arts and charity experiencel to further train and support us
in our financial processes
implemented a QuickBooks-based cashllow reporting schema. through which every transaction we process
is lunnelled and projected
moved our retail inventory system from a paper-based one to Square POS
moved our petty cash systèm from a paper-based one to QuickBooks
recrèated accurate rental ledgers for our 20-odd tenants. cleaning all data back to those tenancy starts.
identifying land pursuing) moniès owed. and moving all rental management to QuickBooks
audited then increased rènts on those tenants
pursued and achièvèd over £5K in insurance arrears owed by our major tenant. the calélbar
increased our commissions on arlist sales and performance royalties
increased our commercial room hirè rates in line with local markèt equivalencies
morè than doubled the lees we charge lor hosting weddings
committèd to regaining Control ol our cafèlbar intèrest from tenants in 2025, bèing. as it is. a
disproportionatèly large polential source ol futurè incomè
sutcèsslully applied for £6K in grant-funding for repairs to our lift
created an ever-growing profitability study on all 500-odd bookings across 2023 and 2024
paid oll our tax debts to HMRC and the local authorities. leaving us practically debt-free (with the exception
of E9K remaining on è COVID-recovèry loan)
engaged the services of new independent accountants
closer, more engaged relationship with our accountants
Berry & Warren
with the view of crèating a
Page 3

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
TRUSTEES. REPORT (COTrfflNUEDI
FOR THE YEAR ENDED 31 DECEMBER 2023
Achl•v•ments and pèrformancè {conlSnuedl
We lind ourselves in a similar position to a yrèat number of similar charities across the country in the wakè ol
COVID and ongoing energy and cosl-ol-living crises. We've acknowledged our administrative shortcomings. pul
all our efforts into buttressing our administration and governance frameworks and capabilities. and are now
projecting. striving for, and (we hopè and believe) achièving a much brighter financial future.
Flnanclal r•vl•w
*. Golng ¢on¢¢rn
The Tru5tee5 have considered the charills posilion al the time of Signing the financial 5tatemen15. The
considerable support receivèd and somè difficult choicès as to operations mèans that thère are sufficiént
available funds for the charity to conlinue and to set in place plans lor 2024 and 2025 to ensure that it can
conllnue lo provide opportunities for local and national artists.
Based on this, the Trustees have concluded that they have a reasonable expectation thal the charity has
adequate resour¢es to ¢onlinuè in opèrational ¢xisten¢e lor thè foreseèable future, at at least twèlve months
from the date ol signing these financial slalements. For this reason, they continue to adopt the going concern
basis in preparing the financial slalemenls. Further details regarding Ihe adoplitsn of the going concern basis
Can be found in thè accounting policies.
b. R•$•rv•$ p•U¢y
At the 310e¢ember 2023 total lunds amounted to £20.105 12022.. £50.186). All of the lunds held are unrestricted.
The Trustees recognise the need to build up and retain reserves lo providè lor unexpectèd èxpènditure, lor
repairs lo the properly and lo have funds available in case of an unforeseen downturn in income. Following a
Challenging 2023 they •re now working towards •¢hieving this. The poli¢y is reviewed annually.
Financial r•vi•w
Total income lor the year ended 31 December 2023 wa5 £153.632 compared to £149,990 for the previou5 year.
Expenditurè of É183.713 was incurrèd in this financial year12022'. É143.0721. This has decreasèd thè total funds
held by the charity to £20,105. compared to £50,186 in 2022.
Struclure. gov•rnance and manag•m•nt
a. Constllutlon
Thè Anter05 Art5 Foundation is registtrèd as a charitablè company limitÈd by guaranteè and was set up by a
Memorandum ol Association.
b. M•thods of appolntment or elecllon of Trustees
The management of thè charity is the responsibility ol the Trustees who arè èlèctèd and co-optèd undèr the
lerms ol the Memorandum of Association.
Page 4

THE AIITEAOS ARTS FOUNDATION
(A Company Llrnlt•d by Guarante•)
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 310ECEMBER 2023
St•t•m•nt of Tru•tw•' r•sp•n•lblUII
The Trustees (who ère also the dlredors of the tharlty for the purposes of company law) ar• responsible lor
preparing the Trustees. Report and ihe linancial stalemenls in accordance with applicabLe law and United
Klngdom Ac£ountin9 Standards {Unit•d Kingdom G•nwally Acc•pt•d Accounting Practicg).
Company law requires the Trustees to prepare financial statemenls for •ach financial year. Under company law,
tho Trustees must not approve the linanclal statements unless they ar• sat15fi"•d that thfry give a true and lalr
vl•w of th• slate ol affairs ol the charity and of its incoming resources and appli¢4tion ol resources. including
its incomè and •xpenditure. for that p•riod. In pr•paring th•se linancial slat•m•nts, th• Tru51•e5 are r•quir•d
to..
8•l•cl suitabl• accountlng P0￿cleS and th•n apply th•m cons1St•nlly,
observe the methods and principles ol the Charilies SORP IFRS 1021."
make iudgments and accounting •stimat•s that are reasonable and prud•nt',
slate whether applScable UK Accounting Standards IFRS 1021 have be•n folitsw•d, subl•¢l lo any mal•rlal
departures dlsclosed and explain•d in th• Iinancial statements-
prepar• lh• linancial statem•nls on th• going concern basls unl•s$ 11 Is Inapproprlal• lo pr•sume that
the charlty wlll ¢ontlnu• In bu$ln•ss.
Th• Truste•s aro responsible lor k•eping adequate accounting rKords thal ar* sullicignt to show and gxplain
th• charitrfs trah£attionÉ and diÉelos• wilh r•asonabl• ateur*ty al amy lim• th• hnaneial position ot th• eharlly
and enable th•m to •nsur• that the Ilnan¢ial statements comply with th• Companies Act 2006. They aro also
responsible lor safeguarding th• ass•ts of th• charlly and hence lor laklng rIa￿nabl* sl•pg for th• pr•venllon
and d•tè¢tlon ¢1 Iraud and oth•r Srr•gulariti+s.
Apprtsv•d by ord•r ol th• members of Iht board of Tnjsttes and slgned on Iheir behall by.
SAPott•
Date.. 30 October 202A
Page 5

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
INDEPENDENTEXAMINER'S REPORT
FOR ThE YEAR ENDED 31 DECEMBER 2023
IndèpÈndÈnt Examlnèrfs Rtport to Ihè Trustt*s ol Thè Antèros Arts Foundatlon Cthè tharlt
I report to the charity Trustees on my examinalion of Ihe accounts of Ihe charity for the year ended 31 December
2023.
Responsibilities and Basis of Report
As the Trustees ol the charity land its direclors lor Ihe purposes ol company lawl you are responsible lor the
preparation of Ihe accounts in accordance wilh the requirements of the Companies Act 2006 Dhe 2006 Act'l.
Having satisfied myself that thè accounts of the charity are not required to be audited undèr Part 16 of the 2006
Act and are eligible for independent examinalion. I report in respect ol my examination ol the charilfs accounts
carried out undèr section 145 of thè Charitiès Att 2011 Cthè 2011 Att?. In tarrying out my èxamination I havè
lollowed the Directions given by the Charily Commission under section 145151{bl ol the 2011 Act.
Indèpond•nt Ex•mlnèVs Sl•tom•nt
I have completed my examination. I conlirm that no matters have come to my atlenlion in connection with the
examination giving me Cause to believe:
accounting records were nol kept in respect of the charily as required by seclion 386 01 the 2006 Act., or
the accounts do not accord with those rècords.. or
the accounts do not comply with Ihe accounling requirements o15ection 396 of the 2006 Act other than
any requirement that the a¢¢ounls give a Yrue and fai￿ view which is not a matter considered as part ol
an independent examination., or
Ihe accounts have not been prepared in a¢¢ordan¢e wilh Ihe methods and principles of the Slalemenl ol
Recommended Practice lor accounting and reporting by charitiès lapplicable to charities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of
Irèland IFRS 10211.
I have no concerns and have come acr055 no other mallers in connection with the examination lo which
attention should be drawn in this report in order to enablè a propèr undèrstanding of the accounts to be
reached.
This report is madè solely to the charitYs Trusteès. as a body, in accordancè with Part 4 ol the Charities
(Accounts and Reports) Regulations 2008. My work has been undertaken so that I might slate to the charitls
Tru51ee5 th05e matters l am required to state to them in an Independent Examine￿5 Report and lor no pther
purpose. To the fullest extent permitled by law, I do not accept or assume responsibility to anyone other than
the charity and the charills Trustees as a body, lor my work or for this report.
Signed-.
Joanne Fox BA FCA
Dated= 31 October 2024
BW Audii Limiled
Chartered Accountant5
Norwich
Page 6

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
srATEMEKf OF FINANCIAL AcnvmES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTJ
FOR ThE YEAR ENDED 31 DECEMBER 2023
As restoted
Totol
funds
2022
Unrèstrlcl•d
funds
2023
Total
funds
2023
N•t•
Incom• Irom:
Donations and legacie5
Charitable activities
65,940
87,442
250
65,940
87,442
250
82,455
67,502
33
Inve5tmentS
Total Incom•
153,632
153,632
149,990
Exp•ndltur• on:
Charllable aclivllies
183.713
183.713
143,072
Total •xp•ndllur•
183.713
183,713
143,072
Net mov•m•nt In fund*
130.0811
130.081)
6.918
R•con¢lllallon ol lund&
Total funds brouyhl forward
Nel movèment in funds
50.186
130.0811
50.184
130.081)
43,268
6,918
Tot•l fvnds ¢arriod f•n¥ard
20.105
20.IOS
50,186
The Statemenl of Financial Activities includes all gains and losses recognised in the year.
The notes on page$ 10 to 21 forni part of these linan¢iaL staternents.
Page 7

THE ATrllEROS ARTS FOUNDATION
(A Cornpany Limited by Guarantee)
REGISTERED NUMBER: 07105916
BALANCE SHEET
AS AT 31 DECEMBER 2023
A5 re5tuted
2022
2023
Not•
Flxed ass•IJ
Tangible assels
Investments
34,646
200
32,050
200
12
34.846
32,250
Curr•nl •ss•ts
Debtors
13
2.334
11.687
13.201
30,470
Cash al bank and in hand
22,021
43,671
Creditors.. amounts lalling due within one
year
14
(27,429)
{12,402J
N4t ¢urr•nt IlabSUtl•• l a•i•t*
15.408)
31,269
T•t•l ass•t8 l•$$ ¢urr•nt Ilabllltl•$
29.438
63,519
Creditors.. amount5 lalling due alter more
than one year
15
{9.333)
{13,333J
Tol*l n•1 *$54t•
20,105
50,186
Charlty lundi
Restricled funds
Unrestricted funds
16
16
20,105
50.186
Total funds
20,105
50.186
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
Thè membèrs havè nol rèquirèd thè tompany to obtain an audit for thè yèar in quèstion in accordancè with
section 476 of Companies Act 2006.
Thè Trusteès acknowledge thèir responsibilitiès for complying with the requiremènts of the Act with respect to
accounting records and preparalion of financial slalements.
Page 8

THE APllEROS ARTS FOUNDATION
(a Comyrry Limil•d by Gu•r•nt••)
REGISTERED NUMBER: 07105916
BALANCE 5HEEf (CofrrnNUED)
AS AT 31 DECEM8ER 2023
Thg financial stat•m•nts ha¥• b•gn pr•parod in accordanc• with th• provisions applicab￿ to •ntiti•s $ubjgcI to
tho 5rnall cornpani*s regiffle.
Th• fln•w•l Jt•t•m•nl# w•r• •ppr•Y*d •nd ttUth•riJ￿ tor i*•u• by th• Tru•l••• and #i9n•d on th•lr b•hèLf by..
5 A POtI•
Datt.. 30 O¢tob9r 2021b
Th• noles on pag•$10 10 21 forn) part ol thes• financlal slat•m•nls.
Pag¢ 9

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
General Inforrnatlon
The charity is a private company limited by guarantee, registered in England and Wale5 and a registered
charity in England and Wales. Thè addrèss of thè règistèred officè is 7-15 Fye Bridgè Strèet. Norwich.
NR3 ILJ. The principal activities ol the charity are detailed with the Truslees Report. In the event of the
harity being wound up, the liability in respect of the guarantee 15 lirnited to £10 per member ol the
charity.
Accountinq polici•s
2.1 Bas1• af pr•parallon of financSal slal•m•nt•
The finan¢ial statements have been prepared in a¢¢ordan¢e with the Charities SORP IFRS 1021
Accounting and Reporting by Charities.- Statement of Recommended Practice applicable to charities
preparing Iheir accounts in accordance wilh Ihe Financial Reporting Siandard applicable in the UK
and Republic ol Ireland IFRS 1021 {èffèctivÈ l January 20191, thè Financial Rèporting Standard
applicable in the UK and Republic ol Ireland IFRS 1021 and the Companies Act 2006.
The Anteros Arts Foundation meets the detinition ol a public benefit entity under FRS 102. Assets
and liabililies are initially recognised at historical cost or transaction value unles5 Otherwise stated
in the relevant a¢¢ounting poIi¢y.
The charity is not required lo prepare consolidated accounls in accordance with the Charitie5 Act
2011, and has taken advantage ol thè option not to prepare consolidatèd linancial statements
contained in Seclion 398 01 the Companies Act 2006 on Ihe basis that the charity and ils subsidiary
undertaking comprise J small group.
2.2 Golng concern
The Trustees have considered the charills position al the time ol signing the financial statements.
and in particular the Truslee5 have considered Ihe current financial strength of Ihe charity, the plan5
thè charity currently has in place together with the range ol measurès the Trustees can take to
mitigate ongoing costs should they need to.
Based on this, the Trustees have concluded that they have a reasonable expectation that the charity
will have adequate resources to continue in operalional existence for the foreseeable future, and al
least twelvè months from the date of signing these financial statements. They therèfore continue to
adopt the going concern basis of accounting in preparing these linancial stalements.
2.3 Incom•
All incomè is rèeognised once the charity has entitlement to thè rnceme, it is probable that thè
income will be received and the amount of income receivable can be measured reliably.
Incomè tax recoverable in rèlation to investment income is recognised at the time the investment
income is receivable.
Page 10

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
Actountlng polltl*s {conllnutdl
2.4 Expenditure
Expenditure is recognised on an accruals basis once there is a legal or conslructive obligation to
transfer economic benefit to a third party. it is probable that a transler of economic benefits will be
required in settlement and the amount ol the obligalion can be measured reliably. Expenditure is
lassilied by aclivily. The c0515 ol each activity are made up ol the total ol direct costs and shared
costs. including support costs involved in undèrtaking èach activity. Direct Costs attributable lo a
single activity are allocaled direclly lo Ihal aclivity. Shared costs which contribute to more Ihan one
activity and support costs which are not attributable to a single activity are apportioned between
those activities on a basis consistent with the use ol resources. Central stall costs are allocated on
the basi5 01 time spent, and depreciation charges allocated on the portion ol the asset's use.
Expendilure on charitable activilies is incurred on directly undertaking Ihe activities which lurth&r
the charity's objectives, as well as any a5$0cialed support CO515.
All expendilure is inclusive of irrecoverable VAT.
2.5 Int•r•*l r•c•lvabl•
Interèst on funds hèld on dèposit is included whèn receivable and the amount can be measured
reliably by the charily., this is normally upon nolilicalion ol Ihe inlere51 paid or payable by the
institution with whom the lunds are deposited.
2.6 Tanglbl• Ilx•d 4iJ•l• and d•pr•cl•llon
Tangible fixed assets cosling £100 or more are capitalised and recognised when futur• economic
benefits are probable and the cost or value ol the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model,
tangiblè fixèd assèts are measurèd at tost Itss atcumulatèd dèpretiation and any attumulatèd
impairment losses. All costs incurred to bring a tangible lixed asset into its intended working
condilion should be included in the measurement ol cosl.
Depreciation is charged 50 as lo allocate the cosl of tangible lixed assets less their residual value
over their estimated useful lives.
Deprecialion is provided on the following bases..
Long-term leasehold property
FiKture5 and fittings
Computer equipmènl
not depreciated
15% reducing balance
3 years straight line
Page 11

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
Actountlng polltl*s {conllnutdl
2.7 Investments
Investmenls in subsidiaries are valued at cost less provision for impairment.
2.8 O•btors
Trade and other debtors arè rècognisèd at thè settlemènt amount altèr any trade discount ollèred.
Prepayments are valued at Ihe amount prepaid nel of any trade discounts due.
2.9 Cash al bank and In hand
Cash at bank and in hand includès cash and short-tèrm hiyhly liquid invèstmènts with a short
maturity ol thre• months or less Irom Ihe date of acquisition or opening ol the deposit or similar
account.
2.10 Ll•blllll•s •nd provl•lons
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result ol a past
evenl, it is probable that a Iransler ol economic benelit will be required in seltlemenl, and the
amount ol the selllement can be eslimated reliably.
Liabilllies are re¢ognistd al Ihe amounl Ih•l Ihe charity antl¢ipales il will pay lo sellle the debt or
the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measurèd al thè bèst èstimate ol thè amounts requirèd to sellle thè obli9ation.
Where the ellecl ol the time value of money is malerial, Ihe provision is based on the present valu•
ol those amounts, di5counled at the pre-tax discount rate that reflects the risk5 specific to the
liability. The unwinding ol Ihè discounl is recognised in the Statement of Financial Activities as a
finance cost.
2.11 Flnanclal In%trum•nls
The tharity only has financial assèts and financial liabilities ol a kind that qualify as basic financial
inslruments. Basic linancial inslrumenls are inilially recognised al transaction value and
sub5e9uently measured at their settlement value with the exception ol bank loans which are
subsequently measured at amortised cosl using the elfective inlerest method.
2.12 Pènslons
The charity operate5 a delined contribution pension scheme and the pension charge represent5 the
amounts payable by thè charity to the fund in respect ol the yèar.
Page 12

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
Actountlng polltl*s {conllnutdl
2.13 Fund accountin9
General funds are unrestricted funds which are available for use at the discretion of the Trustees in
lurtherante of the general objectives of the charity and which have not been designated for other
purposes.
Investment incomè. gains and losses are allocatèd to the appropriate fund.
Prlor y•ar adlu*tm•nt
The comparativès lor the prior yèar havè bèen rèstatèd throughout thè linancial statements to relle¢t thè
requirements ol the Charity SORP lollowing a r•view ol the activiti•s ol th8 charity.
Incom• from don•llon• and l•g•cl••
Unr••trlcl•d
funds
2023
Total
funds
2023
Total
fvnds
2Q22
Donalion from Anteros Arts Limiled
65.809
65.809
77.889
4,566
Other donalions
65,940
65,940
82,455
Income from charitable activitles
A5 re5tuted
Total
fut7d5
2022
Unr•strlcled
tunds
2023
Tolal
funds
2023
Incorne from charitable activitie5
87,442
87.442
67,502
Page 13

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
Investrnent Income
As restuted
Totol
fvt7d5
2022
Unr•stricl•d
fund¥
2023
Tolal
funds
2023
8ank intere51
250
250
33
An•lysSs of •xp•ndltur• by •cllvltl•s
Actlvltl•s
uDd•rtaken
dlr•clly
2023
Supporl
cost•
Total
fund•
2023
2023
Charitable activities
134.635
49,078
183.713
As restoted
Attivities
undertoken
As restated
dirertly support costs
2022
2022
As restated
Total
funds
2Q22
Charitable activities
91,146
51,926
143,072
Page 14

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
Analy51s ol expendlture by acllvlties (continued}
Analygis of support C03ts
As restuted
Totol
fvnds
2022
Charftabl•
activitie3
2023
Tolal
funds
2023
Dèpreciation
Cleaning
Repairs and maintenance
Light and heal
Computer costs
Accountancy and bookkeeping
Rent
Subscrlplions and licences
Advertising
Printing and stationery
Sundries
572
572
701
1,707
10,448
7,775
4,360
4,112
14.985
1,143
921
1.266
962
1.707
10,448
7.775
4,360
4.112
14.985
1,143
921
980
24,884
2,185
510
976
18,467
2,316
1.266
962
295
Telephone
Bank loan inter•st
567
567
438
260
260
170
49,078
49,078
51,926
Indèptndènt èxaminèrfs rèmuntration
2023
2022
Fèes payable to the charitls independent examiner for the independent
examination of the charitys annual accounts
1.500
Fees payable to the charills former independent examiner
714
Page15

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
Staff cos15
2023
2Q22
Wages and salariès
Contribution to defined contribution pension schemes
67.317
562
55,001
551
67,879
55,552
The average number ol persons employed by the charity during the year wa5 as follow5..
2023
2022
No.
Employees
No employee re¢eivtd remuneration amounting to more than É60.000 in either year.
The charity con5ider5 115 key managemenl personnel lo comprise ol the Trustees and the General
Manager. During the year É30.825 12022.. £25.3731 was paid to key managèment personnel in respect ol
salaries and omployorfs NIC and pension contributions.
10.
TruJle•J' r•mun•ratlon and •xp•n•••
During the year, no Trustees received any remuneration or other benelits12022- £NIL}.
During the year ended 31 December 2023, no Trustee expenses have been incurred12022- £NILJ.
Page 16

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
Tanglble flxed assets
Long-term
asèhold Fixtur•s and
property
tittings
Computor
equipment
Tolal
Cost or valuation
At l January 2023
Addition5
30.000
5.793
3,168
37,004
3.168
Al 31 December 2023
30,000
8.961
40,172
D•pr•¢l•tl•n
At l January 2023
Charge lor the year
3.966
407
988
4.954
572
165
Al 31 December 2023
373
1.153
5.526
N•t book valu•
Al 31 December 2023
30.000
4.588
58
34,646
At 31 December2022
30,LKXI
1827
223
32,050
Page 17

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
12.
Flxed asset Investmenls
Investment In
subsidiary
company
Cost or valuation
At l January 2023
200
At 31 December 2023
200
N•1 book Yalu•
At 31 December 2023
200
At 31 December 2022
200
Prlnclp•l •ubsldl•rl••
The following was a subsidiary undertaking ol the charity..
Name
Company
numb•r
R•9l•ternd offic• or prlnclpal
plac• ol busln•ss
Clas8 of
•har•J
Anteros Arts Limited
07451175
11-15 Fye Bridge Street. Norwich Ordinary
NR3 ILJ
The financial resulls ol the subsidiary lor the year were..
Name
Income
Expendlture
Profii/lLoss)
I Surplusl
(Deticitl for
the y•ar
Net ass•t•
Anteros Arts Limited
86.229
{81.876)
4.353
7.409
Page 18

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
13.
Debtors
2023
2Q22
Du• wlthln ono y•ar
Trade debtors
197
Amounts owed by group undertakings
Prepayments and accrued income
1.229
908
3.741
9,460
2.334
13,201
14.
Credltori Amounls lalllng du• wllhln y••r
2023
2022
Bounce back loan
Trade creditor5
Other taxation and social security
Other creditors
4.OOQ
14,649
5.394
546
7,128
546
Accruals and deferred income
2.840
728
27,429
12,402
15.
Cr•dItO￿ Amounls lalllng du• aft•r mor• th•n on• y•ar
2023
2Q22
Bounce back loan
1.333
13,333
The loan relates lo a Coronavirus Bounce Back Loan. The loan of £20.000 wa5 drawn in February 2021
with a 12 month capital payment holiday, where the interèst is paid by the Govèrnment. The loan is then
repayable over a 5 year period. Inlerest is charged al 2.5% per annum.
Page 19

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
16.
Statement ol funds
Statemenl ol funds - current year
Bal•nc• at I
January
2023
Balanc• al 31
December
2023
Incom• Exp•ndltur•
Unr•strlct•d lund*
General Funds
50.181
153.632
083.7131
20.105
Stat•m•nl ol funds - prfor y•ar
Bolonce ot
l Junuory
2022
Bolonce ot
31 Decernber
2022
Income
Expenditure
Unr•itrlct•d lundi
General Funds
43,268
149,990
(143,072)
50,186
17.
Analysls ol n•t ass•ts b•lw••n fvnds
Analysls ol net assets b•lwe•n fvnds- currnnt y•ar
Unrestricted
funds
2023
Total
funds
2023
Tangible fixed asset5
Fixed asset investments
34,646
200
34,646
200
Current assets
22.021
127,4291
19.3331
22,021
127,4291
{9,3331
Creditors due within one year
Creditors due in more than one year
Tolal
20,105
20,105
Page 20

THE ATrllEROS ARTS FOUNDATION
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2023
17.
Analysls ol net assets belween fvnds Icontlnued)
Analygis of net a55ets belween fvnd5- prlor year
Unrestricted
fvnds
2022
Tot171
fvnds
2Q22
Tangible fixed assets
Fixed asset investments
32.050
2W
32,050
200
Current asse15
Creditor5 due within one year
Creditors due in more than one year
43,671
{12,402J
{13,333J
43,671
{12,402J
113,333)
Tolal
50,186
50,186
18.
Pènilon commltm•nls
The charily operate5 a defined conlribulion pension scheme. The assets ol the scheme are held
separately from those of the group in an independèntly administered lund. The pension cost charge
represenls contribulions payable by Ihe charily to the fund and amounted to £562 12022.. £5511.
Contributions totalling £546 12022: £5461 were payable lo the fund at the balance sheet date and are
included in creditors.
19.
R*lal•d party Iransacllon*
During the year donalions were made by Anleros Arts Limiled lo the charity of £65,80912022.' £77,889).
The charity recharged expenses of £859 (2022.. É131bl to the subsidiary and £3.371 12022.. £nill was
recharged from the subsidiary to the charily.
At 31 December 2023 Anteros Arts Limited owèd the charity É1,229 {2022.' £3.741).
Page 21