Company registration number.. 07351786
Charity registration number: 1138836
OSCR registration number: SC042755
Life with Art
(A company limited by guarantee)
Annual Report and unaudited Financial Statements
for the Year Ended 31 March 2024

Life with Art
Contents
http'.Ilwww.lifewithart.co.ukl
Reference and Administrative Details
Trustees, Report
2to5
Statement of Trustees, Responsibilities
Independent Examinerfs Report
7t08
Statement of Financial Activities
Balance Sheet
10
Notes to the Financial Ststements
11 to19

Life with Art
Reference and Administrative Details
Chairman
DNSPigott
Trustees
APRMain
DNSPigott
IAMReid
Principal Office
St Brandons House
29 Great George Street
Bristol
BS1 5QT
Registered Office
Freshford House
Redcliffe Way
Bristol
BS1 6NL
Charity Regislration Number
1138836
Company Registration Number 07351786
OSCR Reglstratlon Number
SC042755
Solicitors
vwv
Narrow Quay
Bristol
BS14QA
Bankers
Handelsbanken
66 Queen Square
Bristol
BS14JP
Auditors
Milsted Langdon LLP
Chartered Accountants
Freshford House
Redcliffe Way
Bristol
BS1 6NL
Page 1

Life with Art
Trustees. Report
The Trustees, who are directors for the purpose of company law, are pleased to present their annual
Trustees, report together with the financial statements of the Charity for the year ended 31 March
2024, which are also prepared to meet the requirements for a Trustees. report and accounts for
Companies Act purposes.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the
Memorandum and Articles of Association and Reporting by Charilies.. Slatement of Recommended
Practice applicable to Charities preparing their accounts in accordance with Financial Reporting
Standard 102.
The principal office of the Charity is:
St Brandons House
29 Great George Street
Bristol
BS15QT
STRUCTURE. GOVERNANCE AND MANAGEMENT
Governing document
Life with Art is a company limited by guarantee, as defined by the Companies Act 2006, and governed
by its Memorandum and Articles of Association dated 20 August 2010. It is registered as a charity with
both the Charity Commission (registration number 1138836) and the Office of the Scottish Charity
Regulator (registration number SC042755).
Organisational structure and management of the Charity by the Board of Trustees
The Trustees are responsible for strategy, policy and financial oversight of the charity.
The Board of Trustees administers the Charity and meets quarterly. The current Chairman, D N S
Pigott, is appointed by the trustees to manage the day-to4ay operations of the Charity. To facilitate
effective operations the Chaimian has delegated authority, within terms of delegation approved by the
Trustees, for operational matters including finance, employment and all other related activities.
The Trustees who served during the year are listed on page 1, along with the details of professional
organisations who have provided services or advice to the charity during the year ended 31 March
2024.
Recruitment and appointment of new Trustees
As set out in the Articles of Association there must be at least three Trustees at all times. None of the
Trustees are obliged to serve fixed terms nor relire on rotation. When considering co-opting Trustees,
the board has regard to the requirement of any specialist skills needed.
Inductlon and tralnlng of new trustees
New Trustees undergo an orientation day to brief them on their legal obligations under Charity and
Company law, the Charity Commission guidance on public benefit and infomi them of the conlent of
the Memorandum and Articles of Association, the committee and decision-making processes, the
business plan and recent financial perfomance of the Charity. During the induction day they will meet
key employees and other Trustees. Trustees are encouraged to attend appropriate extemal training
events where these will facilitate the undertaking of their role.
Page 2

Life with Art
Trustees. Report
Pay policy for senior staff
The Trustees consider themselves members of key management personnel of the Charity in charge
of directing and controlling, running and operating the charity on a day to day basis. All Trustees give
up their time freely and do not claim any expenses incurred.
The pay of senior staff is reviewed annually by the Trustees.
Related parties and subsidiary undertakings
The Charity's wholly owned subsidiary, Life With Art Trading Limited, was established to operate
those activities which are outside the scope of the Charity's objectives.
Investmenl policy
The Trustees, having regard to the liquidity requirements of operating the Charity, have kept available
funds in an interest-bearing account and would, in normal circumstance, seek to achieve a rate of
interest which matches or exceeds inflation as measured by the retail prices index. Due to wider
economic circumstances this aim was not achieved in the year. The Trustees are now exploring
further options to achieve this objective.
Risk management
The Trustees have a duty lo identify and review the risks to which the Charity is exposed and to put
systems into place to mitigate these risks. The Trustees have carried out a risk assessment review of
risks to the Charity. These include Health and Safety. Employment law, security, and financial
operationslliquidity. Risks are identified Ihroughout the period and discussed at each Trustees
meeting. Actions are taken to mitigate any risk wherever possible.
OBJECTIVES AND ACTIVITIES
Objectives and activities
The Trustees confirm that they have complied with their duty under the Charities Act 2011 to have
due regard to the Charity Commission's guidance on public benefit when planning and reviewing the
aims, objectives and activities of Life With Art.
The purposes and aims of the Charity are:
To advance the education of the public in the arts, including (but not limited to) young people and
disabled people-
To promote the relief of disabled people,. and
To advance for the benefit of the public such other exclusively charitable purposes (in accordance
with the laws of England and Wales and Scotland) as the Trustees of the Charity shall from time to
time select.
Through the education of young people and disabled people the Charity wishes to maximise the
public benefit and ultimately its legal purposes.
Page 3

Life with Art
Trustees. Report
Strategies
The strategies in place to achieve the purposes and aims of charities and by which way the success
of the Charity is measured include:
Increasing the quantity of workshops offered-
Increasing exposure on social media, with the use of blogs and other engaging media in order to
promote the charitable purposes-
Increasing awareness of the therapeutic nature of art through organising and facilitating art
competitions. and
Increasing local involvement through sustained community out-reach programmes at each Charity
art centre.
ACHIEVEMENT AND PERFORMANCE
Achievements against objectives
During the year the Charity operated 13 seperate Charitable Art Centres throughout the UK.
The Charity continues to run exhibitions, workshops and events and to update blogs on the Charity's
activities to promote those activities and the benefits of art in education.
FINANCIAL REVIEW
The Trustees have re-eslablished their policy of supporting other charities through grants totalling
£3,270 12023.. £1,800). During the year, the charity received total incoming resources of £326,361
(2023: £337,744). After tsking into account grants and other expenses of £360,269 {2023.' £228,569},
the funds of the charity have decreased during the year by £33,908 (2023: increase of £109,175). The
Trustees consider the financial position of the funds of the charity to be satisfactory.
FUTURE PLANS
The Charity is hopeful of increasing the number of Charity Art Centres Ihroughout the next financial
year.
The Trustees aim is to find new suitable venues and keep incoming resources at as high a level as
possible to enable it to continue to support as many of its clients as possible though art workshops,
events and art competitions.
Reserves Policy
It is the policy of the Trustees to maintain unrestricted funds, which are the free reserves of the
Charity, at a level to enable the Charity to meet its regular grant commitments for four months
(£11,200) in the event of a substantial fall in the Charity's income. The free reserves as at 31 March
2024 are £558,845 (2023: £592,753).
Small companies. provision
This report has been prepared in accordance with the small companies, regime under the Companies
Act 2006.
Page 4

Lrfe with Art
Trustees. Report
Trustees and offlcers
Tho trusteos and officers 3eThlng during the year and since ihe year end were as follows:
Trustees..
APRMain
DNSPigott
IAMR8id
Chairman:
DNSPigott
Dlselosurn of Informatlon to auditor
Each member has taken steps that they ought to have taken as a member in order to make
Ihvm5elves aware of any relevant auclit infomiation and to establish that the charity's auditor is aware
of that information. The Trustees confimi that thwe is no relevant informatlnn Ihat they know of and of
which they know the auditor is unaware.
ThA Anniia
éport w
behalf by..
s approv￿ by tho Trudoog of tho ¢hority on
.2ft￿ and ?igned oli S1¥
igo
anandT
Chair
st0•
Page 5

Life with Arl
Statement of Trustees. Responsibilities
The Trustees (who are also the directors of Life wryth Art for the purpos08 of company law) are
responsible for preparing the Trustees. report and the financial statements in accordance with
applicabla law and Unttod Kin9dom Accounting Standards (United Klngdom Generally Accepted
Accounting Practice), including FRS 102 Yhe Financial RepcKting Standard applicable in the UK and
RepubliG of Irel<irid".
Company law requiros tho Trustees to prepare financial blalements for each financial year. Under
company law the Trustees must not approve the financial statements unless th8y are satisfied thal
they give a Irue an¢J falr vlew of the stale of affairs of the charitable Company and of the incoming
resources and application of resources. includino its incom8 and p.xpendilur8, of th8 charltablo
company for that period. In preparing these financial statements, the Trustees are required to:
)¥1￿1 sullable accouniing Poliaes and apply them consiSten￿y.
obs￿• the method* and prin¢iple8 in the Charities SORP,"
make judgements and estimates that are reasonabl• and prudent:
state whether applicable accounting standards, comprisino FRS 102 havé hAftn followed. subject
to any material departures disclosed and explained in the financial stalemenls,. and
prepare tht) financlal statements on Ihe going concern basis unless it is inappropriate to presume
that the charitable company b%fjll continu6 in business.
The Trustees are responsible for keeping proper accounting records that can disclose wlth raasonable
aGGuracy <$1 any tlme Ihe flnanclal posltlon ol the charitable company and enable them to ensure that
the financial statements comply with the Companies A￿ 2006. Thfty also rgsponsible for
safeguarding the assets of the charitable company and hence for taklng reasonable st8ps for the
prevention and d0toc.tlon ot fraud and other irrogularities.
The Trustees are responsible for the maintenance and integrity af the eorporate and financial
InforTnation Included on the chantable companls webslte. Legislation goveming the preparation and
dlss8mination of financial slatoments may diffor from Icgislation in other jurisdictions.
Approved
theT
es of the charity on
.1).24 and signed on its behalf by.
Chair
nandt
stae

Life with Art
Independent Examinerfs Report to the trustees of Life with Art ('the Companw)
I report to the charity Trustees on my examination of the accounts of the Company for the year ended
31 March 2024.
Responsibilities and basis of report
As the charity's Trustees of Life with Art (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 {'Ihe 2006 Act,) the Charities and Trustee Investment (Scotland) Act 2005 and
the Charities Accounts (Scotlandl Regulations 2006 (as amended). The charity trustees consider that
the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply.
It is my responsibility to examine the accounts as required under section 44111 (c) of the Act and to
state whether particular matters have come to my attention.
Having satisf18d myself that the accounts of Life with Art 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 examlner's statement
Since Life with Art's gross income exceeded £250,000 your examiner must be a member of a body
listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination
because l am a member of ACCA, which is one of the listed bodies.
I have completed my examination. I confinn that no matters have come to my attention in connection
with the examination giving me cause to believe-
1. accounting records were not kept in respect of Life with Art as required by section 386 of the
2006 Act., or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act
other than any requirement that the accounts give a 'true and fair view which is not a matter
considered as part of an independent examination- or
4, the accounts have not been prepared in accordance with the methods and principles of the
Statement of Recommended Practi￿ for accounting and reporting by charities applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102).
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.
Page 7

Life with Art
Independent Examiner's Report to the trustees of Life with Art ('the Company.)
rf.*J L L. LLP
R E Rawle FCCA
Milsted Laiigdon LLP
Freshford House
Redcliffe Way
Bristol
BS16NL
Date..
Page 8

Life with Art
Statement of Financial Activities for the Year Ended 31 March 2024
(Including Income and Expenditure Account and StatemÉnt of Total
Recognised Gains and Losses)
Unr•strlcl•d
funds
Tolal
2024
Total
2023
Note
Income and Endowmont8 from:
Donations and legacies
Other income
316.918
9,443
318,918
9,443
337.744
Total income
326.361
326,361
337 744
Expendlture on:
Charitable dLtivities
360,269
360,269
(228,569
Tolal expendlture
Net (expenditurewincome
Net movement in funds
Reconclllatlon of funds
Total funds brought forward
Total funds carried forward
360.269
360,269
228.569
{33,908
(33,908
109,175
(33,908)
(33,908)
109,175
592,753
558.845
592,753
483,578
592,753
14
558,845
All of the charity's activitie8 darive from continuing opérations during the abeve trwo periods. There
were no gains or losses other than Ihose stated above.
The funds breakdovm for 2023 is shown in note 16.
The notes on pages 11 to 19 fomi an integral part of these financial statements.
Page 9

Life with Art
(Registration number: 07351786)
Balance Sheet as at 31 March 2024
2024
2023
Nole
Fix•d a$set8
Tangible assets
Investments
3,054
3,482
10
3,055
3,483
Current assets
Debtor?
Cash al bank and in hand
39,340
536.568
343,981
248.389
12
.fj75.908
592.370
Credltors: Amounts falllng du• wfthln one year
Net current assots
13
20.118
.3.1no
555.790
589.270
Net assets
558.845
592.753
Fund8 of the charity:
Unrostrlcled Incom• funds
Unrestricted funds
558,845
592,753
Total funds
14
558,845
592,753
For the financial year ending 31 March 2024 the charfty was entitled to exemption from audit undor
section 477 of the Companles Act 2006 relating to small companles.
Dlrectors, r8sponsibilities-
The members have not required the charlty to obtain an Aiidit nf itq ArrThintg for th• y•ar In
question in accordance with section 476: and
The dlrectors acknowledge th￿r reSp￿sibIlItieS ICY complying wth the requirements of the Act with
respect to accounting records and the preparation of accounts.
The fi
an
on Xc.i¢.
ial statements on pages 9 to 19 wer8 approved by the Trustees, and authorised for Issue
and signed on thair behalf by:
Chair
rustee
The nolea on pages 11 to 19 fomi an integiaS pail uf u1￿￿ fiii¢aflbi<*l bidletnenl5.
Page 10

Life with Art
Notes to the Financial StatemÉnts for the Year Ended 31 March 2024
1 Charlty status
The charity is lirniled by guarantee, incorporated in UK, and consequently does not have share
capital. Each of the Trustees is liable to contribute an amount not exceeding £1 towards tho asset8 of
the charity in the event of liquidation.
The address of its registered office is".
Freshford House
Redcliffe Way
Bristol
8S16NL
The principal place of business is:
St Brandons House
29 Gr8al Gaorge Street
Bristol
B31 5QT
Theso financial statements were authorised for issue by the Trustees on .*£..l i i 1%
2 Accountlng pollel•s
Summary of slgnlflcant accountlng pollcles and key accountlng estlmates
The principal accounting policies applied in the preparation of these financial statements are set out
helow. These policies hav8 bean consistcntly applied to all the years yie¥eriled, unless otheNlse
stated.
Statement of compllance
The finanr.ial statements have been prepared In accordance with Ac¢ounting and Reporting by
Charities: Statement of Recommended Practice applicable to charities preparing their accounts in
dLGviddllLe wltn the Flnancial Reporting standard applicable in the UK and Republic of Ireland (FRS
1021 (effective 1 January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) Companies Act 2006.
Ba8ls of preparallon
Life with Art meets the definition of a public benefft enttty under FRS 102. Assets and liabilities are
initially recognised at historical cost or transaction value unless otheThvise stated in the relevant
accounting policy notes.
Golng concern
At Ihe time of approving the financial statemenls. the Trustees have reasonable expectation that the
charitabl8 company will havc adequate resources to continue in operiltional existence for the
foreseeable future. Therefore, the Trustees continue to adopt the going concern basis in preparing the
financial statements.
Group accounts not prepared
The Charity has not prepared group accounts due to qUa[rf￿.ng as being part of a small qroup.
Page11

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2024
Income and endowments
All income is recognised once the Charity has entitlement to the income, il is probable that the income
will be received and the amount of the income receivable can be measured reliably.
Deferred income
Deferred income represents amounts received for future periods and is released to incoming
resources in the period for which it has been received. Such income is only deferred when:
The donor specifies that the grant or donation must only be used in future accounting periods., or
The donor has imposed conditions which must be met before the charitable group has unconditional
entitlement.
Expenditure
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 asset's use.
Charltable actlvltles
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.
Other expendlture
Support costs include central functions and have been allocated to activity cost categories on a basis
consistent with the use of resources.
Governance costs
These include the costs attributable to the charities, compliance with constitutional and statutory
requirements, including audit, strategic management and Trustee's meetings and reimbursed
expenses.
Taxation
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010
and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the charity is polentially exempt from taxalion in respect of income or capital gains
received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxation of Chargeable Gains Act 1992, to the exlent that such income or gains are
applied exclusively to charitable purposes.
The trading subsidiary recognises the current income tax charge on the basis of tax rates and laws
that have been enacted or substantively enacted by the reporting date in the countries where the
company operates and generates taxable income.
Page 12

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2024
Tangible fixed assets
Fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.
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
Furniture and equipment
Depreclatlon method and rate
25°/0 on reducing balance
Flxed asset Investments
Fixed asset investments, other than programme related investments, are included at market value at
the balance sheet date. Realised gains and losses on investments are calculated as the difference
between sales proceeds and their market value at the start of the year, or their subsequent cost, and
are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are
credited or charged to the Ststement of Financial Activities based on the market value at the year end.
Trade debtors
Trade debtors are amounts due from customers for merchandise sold or services performed in the
ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at
amortised cost using the effective interest method, less provision for impairment. A provision for the
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 liabilities if the charity
does not have an unconditional right, at the end of the reporting period, to defer settlement of the
creditor for at least twelve months after the reporting date. If there is an unconditional righl to defer
settlement for at least twelve months after the reporting date, they are presented as non-current
liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at
amortised cost using the effective interest method.
Page 13

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2024
Fund structure
Unrestricted income funds are general funds that are available for use at the Trustees discretion in
furtherance of the objectives of the charity.
Financial instruments
Classification
Financial assets and financial liabilities are recognised when the charity becomes a party to the
contractual provisions of the instrument.
Financial liabilities and equity instruments a￿ classified according to the substance of the contractual
arrangements entered into. An equity instrument is any contract that evidences a residual interest in
the assets of the charity after deducting all of its liabilities.
Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction
costs), except for those financial assets classified as at fair value through profit or loss, which are
initially measured at fair value (which is normally the transaction price excluding transaction costs),
unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing
transaction, the financial asset or financial liability is measured at the present value of the future
payments discounted at a market rate of interest for a similar debt instrument.
Financial assets and liabilities are only offset in the statement of financial position when, and only
when there exists a legally enforceable right lo set off the recognised amounts and the charity intends
either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Financial assets are derecognised when and only when a) the contractual rights to the cash flows
from the financial asset expire or are settled, b) the charity transfers to another party substantially all
of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained
some, but not all, significant risks and rewards of ownership, has transferred control of the asset to
another party.
Financial liabilities are derecognised only when the obligation specified in the contract is discharged,
cancelled or expires.
Investments
Investments in subsidiaries and associates are measured at cost less impairment. For investments in
subsidiaries acquired for consideration including the issue of shares qualifying for merger relief, cost
is measured by reference to the nominal value of the shares issued plus fair value of other
consideration. Any premium is ignored.
Page 14

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2024
3 Income from donations and legacies
Unrestricted
funds
General
Total
2024
Total
2023
Donations and legacies;
Donations from companies. trusts and similar
proceeds
316,918
316,918
337,744
316,918
316,918
337,744
£316,91812023 £337.744) of the income above was attributable to unrestricted funds and £Nil (2023
£Nill attributable to restricted funds.
4 Other Income
Unrestricted
funds
General
Total
2024
Other income
9,443
9,443
£9,443 (2023 £Nil) of the income above was attributable to unrestricted funds and £Nil (2023 £Nil)
attributable to restricted funds.
5 Expenditure on charitable activities
Unrestricted
funds
General
Totsl
2024
Total
2023
Note
Artists, fees, materials and expenses
Independent examinerfs fees
357,380
2,889
357,380
2,889
226,394
2,175
360,269
360,269
228,569
All expenditure recognised within this classification is accounted for within unrestricted funds, for both
the current and preceding financial year.
Page 15

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2024
6 Net incomingloutgoing resources
Net (outgoing)/incoming resources for the year include:
2024
2023
Depreciation of fixed assets
922
1,161
7 Trustees remuneration and expenses
No Trustees, nor any persons connected with them, have received any remuneration from the charity
during the year.
No trustees have received any reimbursed expenses or any other benefrts from the charity during the
year.
8 Taxalion
The charity is a registered charity and is therefore exempt from taxation.
9 Tangible fixed assets
Furniture and
equipment
Total
Cost
At 1 April 2023
Additions
15,685
494
15,685
494
At 31 March 2024
16,179
16,179
Depreciation
At 1 April 2023
Charge for the year
12,203
922
12,203
922
At 31 March 2024
13,125
13,125
Net book value
At 31 March 2024
3,054
3,054
At 31 March 2023
3,482
3,482
Page 16

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2024
10 Fixed asset investments
2024
2023
Shares in group undertakings and participating interests
Shares in group undertakings and participating interests
Subsidiary
undertaklngs
Total
Cost
At 1 April 2021 and 31 March 2022
Net book value
As at 1 April 2021 and 31 March 2024
Details of undertakings
Details of the investments in which the charity holds 200/0 or more of the nominal value of any class of
share capital are as follows:
Country of
Incorporatlon
Proportion of voting
rlghts and shares held
2024
2023
Principal
activity
Undertaklng
Holdlng
Subsidiary undertakings
Life With Art Trading England and
Limited
Wales
Ordinary
100%
100%
Operation of
arts facilities
The profit for the financial period of Life With Art Trading Limited was £314,74912023 - £209,592) and
the aggregate amount of capital and reserves at Ihe end of the year was £1 (2023 - £1 >.
11 Debtors
2024
2023
Due from group undertakings
Prepayments
31,999
7,341
337,744
6,237
39,340
343,981
Page 17

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2024
12 Cash and cash equivalents
2024
2023
Cash at bank
536,568
248,389
13 Creditors: amounts falling due within one year
2024
2023
Trade creditors
Accruals
164
2,936
20,118
20,118
3,100
14 Funds
Balance at 1
Aprll 2023
Incoming
resources
Resources Balance at 31
expended
March 2024
Unrastricled funds
General
Unrestricted general fund
592,753
316,918
350,826
558,845
Balance at 1
Aprbl 2022
Incoming
resources
Resources
expended
Balance at 31
March 2023
Unrestricled funds
General
Unrestricted general fund
483,578
337,744
{228,569
592,753
The specific purposes for which the funds are to be applied are as follows:
Unrestricted general funds are funds that are available for use at the Trustee's discretion in
furtherance of the objectives of the Group.
Page 18

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2024
15 Analysis of net assets between funds
Unrestricted
General
Total funds
2024
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
3,054
3,054
575,908
20,118)
575,908
20,118
Total net assets
558,845
558,845
Unrestricted
General
Total funds
2023
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
3.482
3,482
592,370
3,100
592,370
3,100
Total net assets
592,753
592,753
16 Analysls of net funds
At 1 April
2023
Financing
cash flows
At 31 March
2024
Cash at bank and in hand
248,389
288,179
536,568
Net debt
248,389
288,179
536,568
At 1 Aprll
2022
Flnanclng At 31 March
cash flows
2023
Cash at bank and in hand
477.864
{229,475
229,475
248,389
Net debt
248,389
17 Related party transactlons
Transactions with the wholly owned entities of the group are not disclosed in accordance with
exemptions available under FRS 102 Section 33.
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