Company registration number= 07351786 Charity registration number- 1138836 OSCR registration number. SC042755 Life with Art IA Gompany Ilmited by guarantee) Annual Report and unaudited Financial Statements for the Year Ended 31 March 2026
Life with Art Contents http'.lfvthw.lrfewilhart.co.ukJ Reference and Administrative Details Trustees, Report 2to5 ststemenl of Tnjstees, Responsibilities Independent Examinevs Report 7t08 Statement of FinanGTal Activlttes Balance Sheet 10 Notes to the Financial Statements 111019
Life with Art R6ference and Adminlstrative Details Chalmian DNSPigott Truste•$ APRMain DNSPigott IAMReid Sl Brandons House 29 Great George Street Bristol BS1 5QT Freshford House Redcliffe Way Bristol 8S1 6NL Princlpal Offlcg Roglstèred Offl¢e Charity Reglstration Number 1138836 Company Registratlon Number 07351786 OSCR Reglstratlon Number SC042755 Soll¢ltors vwv Narrow Quay Brist BS14QA Handelsbanken 66 Queen Square Bristol BS1 4JP Bankers Auditors Milsted Langdon LLP Chartered Accountants Freshford House Redcliffe Way Bristol BS1 6NL Page 1
Llfe with Art Trustees. Report The Trustees, who are directors for the purpose of company law, are pleased to present their annual Trustees, report loyether with the financial statements of the Charity for the year ended 31 March 2026, 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, tha Memorandum and Artides of Association and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in accordan with Financial Reporting Stsndard 102. The principal office of the Charity is.. St Brandons House 29 Great George Street Bristol BS1 5aT STRUCTURE. GOVERNANCE AND MANAGEMENT Governlng document Lrfe with Art is a company limited by guarantee, as defined by the Companies Act 2006, and govemed by ils Memorandum and Articles of Associallon dated 20 August 2010. It is registered as a charity with both the Charty Commission {registration number 1138836) and the Office of the Scottish Charity Regulator (regislralion number SC0427551. Oryanisational structure and management of the Charity by the Board ot Trustoes The Trustees are responsible for strategy. policy and financial oversight of the charity. The Board of Trustees administers the Charity and meals quarterly. The current Chairman, D N S Pigott, is appointed by the truslees lo manage the day-to-day operations of the Charity. To facililate effective operations the Chairman has delegated aulhorty, within lemis of delegation approved by Ihe Trustees, for operational matters including finance, employment and 811 other related acttvities. The Trustees who served during the year are listed on page 1, along with the details of professional organisations who have provided services or advlce to the charity during the year ended 31 March 2026. Recruitment and appolntment of n•w Trnstees As set oul in the Articles of Association there must be at least three TrLTStees al all times. None of the Trustees are obliged to serve fixed temis nor reb're on rotation. When considering co-opting Trustees. the board has regard to the requirement of any specialist skills needed. Inductlon and training of new trustees New Trustees undergo an orientation day to brief them on their le9al 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 proeesses, the business plan and recent financial perfomiance of the Charity. During the induction day they will meet key employees and other Trustees. Trustees are encouraged to attend appropriate external training events where these will facilrtale the unéertaking of their role. Page 2
Life with Art Trustees. Report Pay pollcy 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. Al Trustees give up their time freely and do not claim any 8xpenses incuryed. 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 whlch are outside the scope of the Charity's objectives. Investment policy The Trustees, having regard to the liquidity requirements of operating the Charlty, have kept available funds in an Interest-bearing account and would, in nomi81 circumstance, seek lo achieve a rale of interest which matches or exceeds inflation as measured by the retail prices index. Oue to wider economic circumstances this aim was not achieved in the year. Th8 Trustees are now exploring further options to achieve this objèclive. Rlsk management The Trustees havg a duty lo identify and review the risks lo which the Charity is exposed and to put systems into place lo mitigate these risks. The Trustees have carried out 8 risk assessment review of risks to the Charity. These include Health and Safety, Employment law, security, and financial operalionslliquidity. Risks are identified throughout the period and discussed at each Trustees meeting. Actions 8re taken to mitigate any risk wherever possible. OBJECTIVES AND ACTIVITIES Objectlves and actlvttles The Trustees confimi 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 Vvilh Art. The purposes and aims of the Charity are: To advance the education of the public in the arts, including {bul not Ilmited tol young people and disabled people. To promote the relief of disabled people., and To advance for the benefit of the public such other exclusively chaTbtable purposes (in accordance with the laws of England and Wales and Seotlandl as the Truste8s of the Charity shall from lime to 'me select. Through the education of young people and disabled people the Charty wshes lo maximisè the public benefit and ullimalely tts legal purposes. Page 3
Life with Art Trustees. Raport Strat8gles The strategies in place lo achieve th8 purposes and aims of ch8rilies and by which way the success of the Charity is measured includ&-. Increasing the quantity of workshops offared., Increasing exposure on social media, with the use of blogs and other engaging media In order lo 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 al each Charity art contre_ ACHIEVEMENT AND PERFORMANCE Achlovements agalnst objectlves During the year the Charity operated 9 separate Charttable Art Centres throughout the UK. 541 workshops were held and a further 329 days where the cenlres were open to the public. The Charity continues to rltn exhibitions. workshops and events and to update blogs and social media on the Chariws activities to promote those activities and the benefrts of art in education. FINANCIAL REVIEW The Trustees have re-established their policy of supporting other charities through grants lotalling £6,500 (202S.. £6.4431. During the year, the charity received total incoming reSoUrS of £371.961 12025.. £372,248}. After taking into account grants and other expenses of £403,432 {2025'. £329,192), the funds of the charity have decreased during the year by £31,471 12025.. increased by £43.0561- 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 Cenlres throughout the n8xI financial year. The Trustees aim is lo find new suitable venues and kèep incoming resources at as high a level as possible lo enable il to continu8 lo support as many of its clients as possible though art workshops, events and art compelilions. ReseThes Policy It is the policy of tho Trustees to maintain unrestricted funds, which are the free reseNes of the Charity, al a level to enable the Charity to meet ils regular grant commitments for four monlhs {£11.200} in the event of a substantial fall in the Chariws income. The free reserves as at 31 March 2026 are £570,43012025= £601,901). Small companles. provlsion 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 ware as follows: Trustees.. APRMain DNSPigott IAMReid Chairman: DNSPigott Dlsclosure of Infomiatlon to auditor Each member ha5 taken steps that they ought lo have taken as a member in order to make themselves aware of any relevant audit infom)alion and lo establish that the charity's auditor is aware of that information. The Trustees confimi that there is no relevant information that they know of and of which they know the auditor is unaware. The ann behalf b I report was approved by the Trustees of the charity on and signed on its man and Tnjstee Page 5
Life with Art Statement of Trustees. Responsibillties The Trustees (who are also the dirèctors of Life wilh Art for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdorn Accounling Standards {United Kingdom Generally Accepted Accounting Practice), including FRS 102 Yhe Financial Reporting Standard applicable in the VK and Republie of Ireland" Company law requires the Trustees to prepare financial slalements for each financial year. Under company law the Trustees musl not approve the financial statements unless they are satisfied that they give a true and fair view of the slate of affairs of th8 charitable company and of the incoming resources and application of resources, including ils 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 th8 Charities SORP.. make judgements and aslimates that are reasonable and prudent.. slate whether applicable accounting standards. comprising FRS 102 have been followed. subject to any material departures dis¢losed 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 propar accounting records that can dlsctose th reasonablg accuracy at any Ilme thè financial posilion of the charitable company and enable them to ensure that the finarbcial statements comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of th8 charitable company and hence for taking reasonable steps for the prevenlir)n and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable CoMpanS website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Approve by th Trustees of the charity on _ and signgd on ils behalf by.. DNS Ch an and trustee Page 6
Llfè with Art Independent Examiner's Report to the trustees of Life with Art ('the Company.) I report lo the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2026. Rgsponsibllltles and basls of report As the charity's Trustees of Lrfe with Art land also its directors for the purposes of company law} you are responsible for the preparation of the accounts in aecordance with the requirements of the Companies Act 2006 {'the 2006 Acl'l the Charities and Trustee Investment (Scollandl Act 2005 and trie Charities Accounts (Scollandl Regulations 2006 las amended}. The charity trustees consider that the audit requlremenl of Regulation 10{11 lal to Icl of the 2006 Accounts Regulations doe5 not apply. It is my responslbility to examine the accounts as réquired under section 4411) (c) of the Act and lo slate whether particular matters have come lo my attention. Having satisfied mysew that the accounts of Lrfe with Art are not required to be audtted 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 Charith"es Act 2011 I'lhe 2011 Act'l. In carrying out my examination I hav8 followed the Directions given by the Charity Commission under section 145{5)Ibl of the 2011 Act. Independent examiner's statoment Since Life wth Art's gross income exceeded £250,000 your examiner must be 8 member of a body listed in section 145 of the 2011 Act. I confimi 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 confim7 that no matters have come lo my attents'on in connection th the examination giving me cause to believe: accounting records were not kept in respect of Lrfe Art as required by section 386 of the 2006 Act,. or 2. the accounts do r)ot accord wtth 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 2 matter considered as part of 8n independent examination,. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice lor accounting and reporting by charities applicable to charities preparing their accounls in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021- I have no ¢oncems and have come across no other matters in connection with the examination lo 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 Examlnerfs Report to the trustees of Life with Art {'the Compan} Lip R E Rawle FCCA Milsted Langdon LLP Freshford House Redcliffe Way BS1 6NL 29107126 D*e'. Page 8
Lrfe with Art Statement of Financial Activlties for the Year Ended 31 March 2026 (Includlng Income and Expenditure Account and Statement of Total R8cognised Gains and Loss8s) Unrestrlcted funds Totsl 2026 Total 2025 Note In¢oma and Endowments from: Donations and legacies Other income 357,537 14.424 357,537 14,424 352,592 19,656 Total income 371.961 371.961 372,248 Expendlture on: Charitable activities 1403,4321 1403,432 403,4321 403,4321 329.192 Total expenditure {329.192 Nel lexpenditureifincome Net movement In funds {31.471 31,4711 43,056 {31,4711 131,4711 43,056 Reconclllation of funds Total funds brought forward Total funds catried forward 601.901 601,901 558.845 14 570,430 570,430 601,901 All of the Gharitys actimlies derive from continuing operations during the above tsvo periods. There were no ggins or losses other than those stated above. The notes on pages 11 to 19 fomi an integral part of these finaneial statements. Page 9
Life with Art {Registration number: 07351786) Balance Sheet as at 31 March 2026 2026 202S Note Flxed assets Tangible assets Investments 3.040 4,053 10 3.041 4.054 Current assets Debtors Cash at bank and in hand 11 12 80,905 488,484 46.503 556,786 569,389 603,289 Creditors: Amounts falllng due within one year Net current assets 13 2,000) 5.442 567,389 597,847 Net ass&ts 570,430 601.901 Funds of the charlty: Unrestricted Income funds Unrestricted funds 570,430 601,901 Total funds 14 570,430 601,901 For the financial year eniling 31 March 2026 the charity was entitled lo exemption from audit under section 477 of the Companies Act 2006 relating lo small cornpanies. Dir8ctors' responsibi5ities.. The members have not required the charity to obtain an audrt of Ils accounts for the year in question in accordance wth section 476., and The directors acknowledge their responsibilities for complwng with the requirements of the Act wtlh respect to accounting records and the preparation of accounts. The on. ci lemenls on pages 9 to 19 were approved by the Trustees, and aulhorised for issue nd signed on their behalf by.. an and trustee The notes on pages 1110 19 fomi an integr81 part of these financlal statements. Page 10
Life with Art Notes to the Financial Statements for the Year Ended 31 March 2026 1 Charity status The charity is limited by guarantee, incorporated in UK. and consequently does not have share capital. Each of the Tiustees is liable lo contrTbule an amount not exceeding £1 towards the assets of the charity in the event of liquidation. The address of ils registered office is= Freshford House Redcliffe Way Brfsl BS1 6NL The principal place of business is- Sl Brandons House 29 Great George Street Bristol BS1 5QT These financial statements were aulhorised for issue by the Trustees on 2 Accountlng policies Summary of signlflcant accountlng pollcles and key accountlTrg ostlmates The principal accounting wlicies applied in the preparation of these financial statements are set out below. These policies have been consislentty applied to all the years pr8senled. unless otherwise stated. Statement of compllance The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Rewmmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20151- (Charities SORP IFRS 102}), the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102) Companies Act 2006. Basls of preparatlon Llfe with Art meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised al historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. Golng concern At the lime of approving the financial statements, the Trustèes have reasonable expectats'on that the charitable company will have adequate resources to continue in operational existence for the foreseeable future. Therefore. the Trustees eontinue to adopt the going concern basis in preparing the financial statements. Group accounts not prepared The Charity has not propar8d group accounts due lo qualifwng as being part of a small group. Page 11
Llfe with Art Notes to the Financial Statements for the Year Ended 31 March 2026 Incomo and endowments All income is recognised once the Charty has enlitiemenl lo the income, it Is probable that the income wll be received and the amount of the income receivabl& 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 mel before the charitable group has unconditional entMÈment. ExpÉndfture All expenditure is recognised once there is a legal or constructive obllgation lo that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated lo the applicable expenditure heading that aggregate similar costs lo that category. Where costs cannot be directly attributed to particular headings they have been alloeated on a basis consistent wlh the use of resources. wth cerblral staff costs alloraled on the basis of lime spent. and depreciats'on charges allocated on the portion of the asset's use. Charitable actfvitles Charltable expenditure comprises those costs incurred by the chartty in the dellvery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly lo such activities and those costs of an indirect nature necessary to support them. Othor expendlture Support costs include central functions and have been allocated to aclrvty cost categories on a basis consistent with the use of resources. Governance costs These include the costs attributable lo the charities, compliance with constitutional and statutory requlrements, including audit, strategic management and Tnjstee's meetings and reimbursed expenses. Taxatlon The charity is consldered to p8SS the lests 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 purpose5. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within calegorles covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to tha axtenl that such income or gains are applied exclusively to charitable purposes. The trading subsidiary recognises the current income lax charge on the basis of tax rateg and laws Ihal have been enacted or subslanlively enacted by the reporting dale in the countries where the company operates and generates taxable income. Page 12
Llfe with Art Notes to the Financial Statements for the Year Ended 31 March 2026 Tanglble fixed assets Fixed assets are initially recorded al cost. less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Depreclation and amortlsatiorb Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over th8ir expected useful economic life as follows- Asset class Furniture and equipment Depreciatl¢n rnethod and rate 250/0 on reducing balance Fixed asset Investments Fixed asset investrnenls, other than programme relaled investments, are included at market value al the balance sheet date. Realised gains and losses on invèstments are calculated as the difference bebNeen 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 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 setvices perfomied in the ordinary course of business. Trade debtors are recognised inttially at the 1rans8cb.on price. Théy are subsequently measured at amortised cost using the effecb.ve 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 ternis of the receivables. Cash and Cash equlval8nts Cash and cash equivalents Comprise eash on hand and call deposits, and other short-temi highly liquid investments Ihal are readily convertible to a known amount of cash and are sublecl to an insignnlcant risk of change In value. Trade creditors Trade creditors are obligations to pay for goods or setvices that have been acquired in the ordinary course of businèss from suppliers. Aeeounts payable are classified as current liabilities rf the charity does not have an uncondib.onal right, at the and of the reporting period, lo defer settlement of the creditor for al least e1ve months after the reporting dale. If there is an unconditional right to defer settlement for at least tsvelve months after the reporting date, they are presented as non-current Trade creditors are recognised initially at the transaction price and subsequenty measured at amortised cost using the effedive interest method. Page 13
Llfé with Art Notes to the Financlal Statements for the Year Ended 31 March 2026 Fund structure Unreslricled income funds are general funds that are available for use at Ihe Trustees discretion in furtherance of the objectives of the charity. Flnancial Instruments Classlflcatlon Financial assets ané financial liabilities are recognised when the eharily becomes a party to tha contractual provisions of the instrument. Financial liabilltles and equity instruments are classiff8d according to the substance of the contractual arrangements enter9d into. An equity instrument is any contract that evSdences a residual interest in the assets of the Charity after deducting all of its liabilities. R•cognltion and measuremènt All financial assets and liabilities are initially measured at transaction price lineluding transaction coslsl, except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is nomlally thè transaction price excluding trarlsaclion costs), unless the arrangement constitutes a financing transaction. If an arrangement conslittjtes a financing transaction. the financial asset or financial liability is maasured at the present value of th& future payrnenls discounted al a rnaet rate of interest for a simiSar dabl instrument. Financial assets and liabilities are only offset in the statement of financial posits'on when, and only when there exists a legally anforceable right to set off the recognise(l amounts and the eharity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously. Financial assets are derecognis8d when and only when a) the contractual rights lo the cash flows from the financial asset expire or ar8 settled, bl the charity transfers to another paty substantially all of the risks and rewards of ownership of the financial asset. or cl the charity, despite having retained some. bul not all, significant risks and rewards of ownershlp, has transferred control of the asset to another party. Financial liabiltties are derecognised only when the obligation specrfied in the contract is discharged, cancelled or expires. Investments Investments in subsidiaries and associates are measured at cost less impaiment. For investments in subsidiari85 acquired for consideration induding the Issue of shares qualrfying for merger relief, cost is measur8d 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 2026 3 Income from donatlons and legacles Unrestricted fvnds General Total 2026 Total 2025 Donab'ons and legacies., Donations from companies. trusts and similar proceeds 357,537 357,537 352,592 357,537 357,537 352,592 £357,53712025 - £352,592) of the income above was attributable lo unrestricted funds and £Nil12025 £Nil) attributable lo restricted funds. 4 Other Income Unrestrled funds General Total 2026 Total 202S Other income 14,424 14.424 19,656 £14.42412025 £19.6561 of the income above was attributable to unreslricled funds and £Nil12025 - £Nill attributable lo reslriclgd funds. 5 Expendlture on Charitable actlvltles Unrestrl¢ted funds General Total 2026 Total 2025 Artists, fees, materials and expenses Independent examlneV$ 18es 401.7S7 1.675 401,757 1,675 326,603 2.589 403,432 403,432 329.192 All expenditure recognised wrthin this Classif110 is accounted for within unrestricted funds, for both the cuent and preceding financial yaar. Page 15
Life with Art Notes to the Financlal Statements for the Year Ended 31 March 2026 6 Net Incomingloutgolng resources Net (oulgoingyincoming resources for the year include: 2026 2025 Deprecialon of fixed assets 1,013 1.015 7 Trustees Yemuneratlon and expenses No Trustees. nor any persons connected wlth 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 Taxation The charity is 8 reglsl8red charty and is therefore exempt from taxation. 9 Tanglble fixed assets Furnlture and equlpment Total Cost At 1 April 2025 18.193 18.193 At 31 March 2026 18.193 18,193 Dèpreciallon At 1 April 2025 Charge for th8 year 14.140 1,013 14.140 1,013 At 31 March 2026 15.153 15.153 Net book valuè At 31 March 2026 3,040 3,040 At 31 March 2025 4,053 4,053 Page 16
Llfe wilh Art Notes to the Financial Statoments for the Year Ended 31 March 2026 10 Flxed asset Investments 2026 2025 Shares in group undertakings and participating interests Shares In group undertaklng$ and partlclpatlng Interests Subsldlary undertaklngs Total Cost Al 1 April 2025 and 31 March 2026 Net book value As at 1 April 2025 and 31 March 2026 Detalls of undertaklngs Details of the investments in which the Charity holds 20% or more of the nominal value of any class of share capilal are as follows.. Country of Incorporation Undertaking Proportlon of votlng rights and shares held 2026 2025 Principal activity Holdlng Subsidiary undertaklngs Life With Art Trading England and Limited Wales Ordinary 100° Operation of arts faeililies The profit for the firlancial peri¢)d of L0 With Art Trading LiTniled was £357,550 {2025 - £352,592) and the aggregate amount of capital and reserves at the end of the year was £1 12025 - £1). 11 Debtors 2026 2025 Due from group undertaklngs PTepayTnenls Other debtors 78,855 2,003 47 31,318 14,885 300 80,905 46,503 Page 17
Life with Art Not•s to the Financial Statements for the Year Ended 31 March 2026 12 Cash and cash equlval•nts 2026 2025 Cash at bank 488,484 556.786 13 Creditors: amounts falllng due wlthln one year 2026 2025 Trade credltors Accruals 1.953 3.489 2.000 2.000 5,442 14 Funds Balance at I April 2025 In¢omlng resouregs Resources expended Balancè at 31 March 2026 Unrestrlcted funds G8neral Unrestn'cted general fund 601.901 357,537 389.008 570.430 Balance at 1 Aprll 2024 In¢oming resources Resources Balance at 31 expended March 2025 Unrestrlcted funds Genernl Unrestricted general fijrtd 558,845 352,592 1309.536 601,901 The specific purposes for which the funds are to be applied are as follows.. Unrestricted gen8ral funds are funds that are available for use al the Trustee's discretion in furtherance of th8 objectives of the Group. Page 18
Life wlth Art Notes to the Financial Statements for the Year Ended 31 March 2026 15 Analysls ol net assets between funds Unrestricted General Total funds 2026 Tan9ible fixed assets Fixed asset investments Current assets Current liablllties 3.040 3,040 569.389 2.0001 570,430 569,389 {2.000 570,430 Total net assets Unrestrfcted Genoral Totsl funds 2025 Tangible fixed assets Fixed asset investments Current assets Current liabilities 4,053 4,053 603.289 15.4421 601,901 603,289 5,442 Total net assets 601,901 16 Analysls of net funds At 1 Aprll 2025 Flnan¢ing At 31 March cash flows 2026 Cash at bank and in hand 556,786 68,302 488.484 Net debt 556.786 168,302 488,484 At 1 Aprll 2024 Financing At 31 Mareh cash flows 2025 Cash at bank and in hand 536.568 20,218 556,786 Net debt 536,568 20,218 556,786 17 R•lated party transactlons Transactions wth the wholly owned entities of the group are not disclosed in accordance wth exemptions available (Jnder FRS 102 Section 33. Page 19