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 reSoUr￿S 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 CoMpan￿S 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 rna￿et 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
Unrestrl￿ed
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 Classif￿110￿ is accounted for within unrestricted funds, for both
the cu￿ent 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
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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 L￿0 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