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 2025

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

Life with Art
Reference and Administrative Details
Chairnian
DNSPigott
Trustees
APRMain
DNSPigott
IAMReid
Prfncipal Offlce
St Brandons House
29 Great George Street
Bristol
BS1 5QT
Registered Office
Freshford House
Redcliffe Way
Bristol
BS16NL
Charity Registration Number
1138836
Company Registratlon Number 07351786
OSCR Registration Number
SC042755
Solicitors
vwv
Narrow Quay
Bristol
BS14QA
Handelsbanken
66 Queen Square
Bristol
BS1 4JP
Bankers
Auditors
Milsted Langdon LLP
Chartered Accountants
Freshford House
Redcliffe Way
Bristol
BS1 6NL
Page 1

Life with Art
Trustees. Report
The Trustees, who are direclors 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
2025, 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 Charities.. Statement 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
BS1 5QT
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Lrfe 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 wilh
both the Charity Commission (registration number 1138836) and the Office of the Scottish Charity
Regulator (registration number SC042755).
Organisational structure and management of the Charlty 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 rneets quarterly. The current Chairman. D N S
Pigott, is appointed by the trustees to manage the day-to-day operations of the Charity. To facilitate
effective operations the Chairman has delegated authortty, within terms of delegation approved by the
Trustees, for operational matters including financ8, 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 y8ar ended 31 March
2025.
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 retire on rotation. When considering co-opting Trustees,
the board has regard to the requirement of any specialist skills needed.
Inductlon and trainlng 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 inform them of the content of
the Memorandum and Articles of Association, the committee and decision-making processes, the
business plan and recent financial perfonnance 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 senlor 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 subsldlary undertaklngs
The Charity's wholly owned subsidiary, Life With Art Trading Limited, was established to operate
those activities which are outside the scope of the Charitys objectives.
Investment 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 excéeds 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 to 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 ￿VIeW of
risks to the Charity. These include Health and Safety, Employment law, security, and financial
operationslliquidity. Risks are identified throughout the period and discussed at each Trustees
meeting. Actions are taken to mitigate any risk wherever possible.
OBJECTIVES AND ACTIVITIES
Objectlves and actlvlties
The Trustees confim 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 Wilh 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 educalion 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
Slratogies
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 m8dia, with the use of blogs and oth&r engaging media in order to
promote the charitable purposes.
Increasing awareness of the therapeutic nature of art through organising and facilitsting art
competitions. and
Increasing local involvement through sustained community out-reach programmes at each Charity
art centre.
ACHIEVEMENT AND PERFORMANCE
Achlevements against objectives
During the year the Charity operated 11 separate Charitable Art Centres throughout the UK.
The Charity continues to run exhibitions. workshops and events and to update blogs on the Charitys
activities to promote those activities and the benefits of art in education.
FINANCIAL REVIEW
The Trustees have re-established their policy of supporting other charities through grants totalling
£6,443 (2024.. £3,270). During the year. the charity received total incoming resources of £372,248
{2024'. £326,361). After taking into account grants and other expenses of £329,192 (2024.. £360,269),
the funds of the charity have increased during the year by £43,056 (2024.. decreased by £33,908).
The Trustees consider the financial position of the funds of the charity to be satisfactory.
FUTURE PLANS
The Chartty is hopeful of increasing the number of Charity Art Centres throughout 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 lev81 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
2025 are £601,901 {2024: £558,845).
Small companies. provision
This report has been prepared in accordance with the small companies. regime under the Companies
Act 2006.
Page 4

Life with Art
Trustees. Report
Trustees and officers
The trustees and officers serving during the year and since the year end were as follows..
Trustees..
APRMain
DNSPigott
IAMReid
Chaimian:
DNSPigott
Disclosure of information to auditor
Each member has taken steps that they ought to have taken as a member in order to make
themselves aware of any relevant audit information and to establish that the charity's auditor is aware
of that information. The Trustees confirm that there is no relevant information that they know of and of
which they know the auditor is unaware.
The annual report was approved by the Trustees of the Charity on /¥
behalf by..
and signed on its
DNSPigott
Chairman and Trustee
Page S

Life with Art
Statement of Trustees. Responsibilities
The Trustees (who are also the directors of Life with Art for the purpose5 of company lawl are
responsible for preparing the Trustees, report and the financial statements in accordance with
applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted
Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and
Republic of Ireland"
Company law requires the Trustees to prepare financial statements for each financial year. Under
company law the Trustees must not approve the financial statements unless they are satisfied that
they give a true and fair view of the state of affairs of the charitable company and of the incoming
resources and application of resources, including its income and expenditure, of the charitable
company for that period. In preparing these financial statements, the Trustees are required to..
select suitable accounting policies and apply them Consistently.,
observe the methods and principles in the Charities SORP.,
makejudgements and estimates that are reasonable and prudent.,
stale whether applicable accounting 5tandard5, comprising FRS 102 have been followed. subject
to any material departures disclosed and explained in the financial statements., and
prepare the financial statements on the going concern basis unless it is inappropriate lo presume
that the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that can disclose with reasonable
accuracy at any lime the financial position of the charitable company and enable them to ensure that
the financial statements comply with the Companies Act 2006. They are also responsible for
safeguarding the assets of the charitablé company and hence for laking reasonable steps for the
prevention and detection of fraud and other irregularities.
The Trustees are responsible for the maintenance and integrty of the corporate and financial
information included on the charitable company's website. Legislation governing the preparation and
dissemination of financial statements may differ from legislation in other jurisdictions.
Approved by the Triistees of the charity on lit
and signed on it5 behalf by..
DNsÈigo
Cbirrfan and trustee
Page 6

Life with Art
Independent Examiner's Report to the trustees of Life with Art {'the Company.)
I report to the charity Trustees on my examination of the accounts of the Company for the year ended
31 March 2025.
Responsibilities and basis of report
As the charity's Trustees of Life with Art (and also its directors for the purposes of company lawl you
are responsible for the preparation of the accounts in accordance with the requirements of the
Companies Act 2006 ('the 2006 Act.) Ihe Charities and Trustee Investment (Scotland) Act 2005 and
the Charities Accounts (Scotlandl Regulalions 2006 (as amended). The charity trustees consider that
the audit requirement of Regulation 10(1) la) to {cl of the 2006 Accounts Règulations does not apply.
It is my responsibility to examine the accounts as required under section 44{1) (cl of the Act and to
state whether particular matters have come to my attention.
Having satisfied 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'l. In
carrying out my examination I have followed the Directions given by the Charity Commission under
section 145(5)(b) of the 2011 Act.
Independent examiner's statement
Since Lrfe 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. S confirm 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 Pra¢ti¢e for accounting and reporting by charities applicable to
charities preparing their accounts in accordance with the Financial Rèporting 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,)
R E Rawle FCCA
Milsled Langdon LLP
Freshford House
Redcliffe Way
BS16NL
Date..
Page 8

Life with Art
Statement of Financial Activities for the Year Ended 31 March 2025
(Including Income and Expenditure Account and Statement of Total
Recognised Gains and Losses)
Unrestricted
funds
Total
2025
Total
2024
Note
Income and Endowments from:
Donations and legacies
Other income
352,592
19,658
352,592
19,656
316,918
9,443
Total income
372,248
372,248
326,361
Expenditure on:
Charitable aclivities
{329,192
{329,192
360,269
Total expendtture
{329,192
(329,192
{360,269
Net income/{expenditurel
Net movement in funds
43,056
43,056
(33,9081
43,056
43,056
{33,908)
Reconcillation of funds
Total funds brought forward
Total funds carried forward
558,845
558,845
592,753
14
801,901
601,901
558,845
All of the charity's activities derive from continuing operations during the above periods. There
were no gains or losses other than those stated above.
The notes on pages 11 to 19 form an intègral part of these financial statements.
Page 9

Llfe with Art
(Registration number: 07351786)
Balance Sheet as at 31 March 2025
2025
2024
Note
Fixed assets
Tangible assets
Investments
4.053
3,054
10
4,054
3,055
Current assets
Debtors
Cash at bank and in hand
46.503
556,786
39,340
536.568
12
603,289
575,908
Creditors: Amounts falling due within one year
Net current assets
13
5,442)
20,118
597.847
555,790
Net assets
601.901
558,845
Funds of the charity:
Unrestricted income funds
Unrestricted funds
601,901
558,845
Total funds
14
601,901
558,845
For the financial year ending 31 March 2025 the charity was entitled to exemption from audit under
section 471 of the Companies Act 2006 relating to Small companies.
Directors, respon5ibilities=
The members have not required Ihe charity to obtain an audit of its accounts for Ihe year in
question in accordance with section 476-, and
The directors acknowledge their responsibilities for complying with the requirements of the Act wilh
respect to accounling records and the preparation of accounts.
The finadci
swements on pages 9 to 19 were approved by the Trustees, and authorised for issue
2.li and signed on their behalf by..
DNSPI
Chairman and trustee
The notes on pages 11 to 19 fom an integral part of these financial statements.
Page 10

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2025
1 Charlty status
The charity is limited 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 the assets of
the charity in the event of liquidation.
The address of its registered office is..
Freshford House
Redcliffe Way
Bristol
BS1 6NL
The principal place of business is..
St Brandons House
29 Great George Street
Bristol
BS15QT
These financial statements were authorised for issue by the Truslees on 14 August 2025.
2 Accounting policies
Summary of signlflcant accounting policles 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.
Statement of compllance
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 2015) (Charities SORP (FRS 102)>, the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102) Companies Act 2006.
Basls of preparation
Life with Art 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
accounting policy notes.
Going concern
At the time of approving the financial statements, the Trustees have reasonable expectation that the
charitable company will have adequate resources to continue in operational 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 qualifying as being part of a small group.
Page 11

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2025
Income and endowments
All income is recognised once the Charity ha5 entitlement to the income, it is probable that the income
will be received and the amount of the income receivable can be measured reliably.
Deferred incom•
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 On￿ 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 activities
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities
and services for its beneficiaries. It includes bolh costs that can be allocated directly to such activities
and those costs of an indirect nattjre necessary to support them.
Other expenditurn
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.
Taxatlon
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 potentially exempt from taxation 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 extent 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 2025
Tangible fixed assets
Fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and
subsequent accumulated impairment losses.
Depreciation and amortlsatlon
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
Fumiture and equipment
Depreciatlon method and rate
25 /0 on reducing balance
Fixed asset investments
Fixed asset investments, other than programme related investments, are included at market value at
the balan￿ 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 Iheir 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 Statement 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 ¢redltors
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 ￿e1ve months after the reporting date. If there is an unconditional right to defer
settlement for at least twelve months after the reporting date, they are presenled as non-current
liabilities.
Trade creditors are recognised initially at the trdnsackn'on 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 2025
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.
Financlal Instruments
Classificatlon
Financial assets and financial liabilities are recognised when the charity becomes a paty to the
contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual
arrangements enter&d into. An equity instrument is any contract thal 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 inilially 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 to set off the recognised amounts and the charity intends
either to settle on a net basis, or to realise thè 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 fewards 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 qualifw'ng 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 2025
3 Income from donatlons and legacles
Unrestricted
funds
General
Total
2025
Total
2024
Donations and legacies.,
Donations from companies, trusts and similar
proceeds
352,592
352,592
352.S92
316,918
316,918
352.592
£352,592 {2024 - £316,918) of the income above was attributable to unrestricted funds and £Nil {2024
£Nil) attributable to restricted funds.
4 Other Income
Unrestrlcted
funds
General
Total
2025
Total
2024
Other income
19.656
19,656
9,443
£19.656 (2024 £9.443) of the income above was attributable to unrestricted funds and £Nil (2024
£Nil) attributable to restricted funds.
S Expenditure on charltable activitles
Unrestricted
funds
General
Total
2025
Total
2024
Artists, fees, materials and expenses
Independent examinerfs fees
326,603
2,589
329,192
326,603
2,589
357.380
2,889
329,192
360,269
All expenditure recognised wthin this classification is accounted for within unrestricted funds, for both
the tU￿ent and preceding financial year.
Page 15

Life with Art
Notes to the Financlal Statements for the Year Ended 31 March 2025
6 Net incorningloutgolng resources
Net incomingl(outgoing} resources for the year include..
2025
2024
Depreciation of fixed assets
991
922
7 Trustees remuneratlon 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 benefits from the charity during the
year.
8 Taxatlon
The charity is a registered charity and is therefore exempt from taxation.
9 Tangible fixed assets
Furniture and
equlpment
Total
Cost
At 1 April 2024
Additions
16,179
2,014
16,179
2,014
At 31 March 2025
18,193
18,193
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
13,125
1,015
13,125
1,015
14,140
14,140
Net book value
At 31 March 2025
4,053
4,053
At 31 March 2024
3,054
3,054
Page 16

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2025
10 Flxed asset Investments
2025
2024
Shares in group undertakings and participating interests
Shares In group undertakings and particlpatlng interests
Subsidiary
undertakings
Total
Cost
At 1 April 2024 and 31 March 2025
Net book value
As at 1 April 2024 and 31 March 2025
Detalls of undertaklngs
Details of the investments in which the charity holds 20 /0 or more of the nominal value of any class of
share capital are as follows..
Country of
Incorporation
Undertaklng
Proportion of voting
rlghts and shares held
2025
2024
Princlpal
activlty
Holding
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 £352,592 (2024 - £316.918) and
the aggregate amount of capital and reseNes at the end of the year was £1 {2024 - £1)-
11 Debtors
2025
2024
Due from group undertakings
Prepayments
Other debtors
31,318
14,885
300
31,999
7,341
46,503
39,340
Page 17

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2025
12 Cash and cash equivalents
2025
2024
Cash at bank
556,786
536,568
13 Credltors: amounts falllng due wlthln one year
2025
2024
Trade creditor5
Accruals
1,953
3,489
20,118
5,442
20,118
14 Funds
Balance at 1
April 2024
Incomlng
resources
Resources Balance at 31
expended
March 2025
Unrestricted funds
General
Unrestricted general fund
558.845
352,592
(309,536
601,901
Balance at 1
April 2023
Incomlng
resources
Resources Balance at 31
expended
March 2024
Unrestricted funds
General
Unrestricted general fund
592,753
316,918
1350,826)
558,845
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 objeclives of the Group.
Page 18

Life with Art
Notes to the Financial Statements for the Year Ended 31 March 2025
15 Analysis of net assets between funds
Unrestrlcted
General
Total funds
2025
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
4,053
4,053
603.289
(5,442
601,901
603,289
5,4421
601,901
Total net assets
Unrestrlcted
General
Total funds
2024
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
3,054
3,054
575,908
(20,118)
558,845
575,908
(20,118)
558,845
Total net assets
16 Analysis of net funds
At 1 AprTI
2024
Flnan¢lng At 31 March
cash flows
2025
Cash at bank and in hand
536,568
20,218
556,786
Net debt
536,568
20,218
556,786
At 1 April
2023
Financlng At 31 March
cash flows
2024
Cash at bank and in hand
248,389
288,179
536,568
Net debt
248,389
288,179
536.568
17 Related party transactions
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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