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Company number 07405944 Charity number 1139215
## Eden Arts Limited
(Limited by Guarantee)
Report and Financial Statements
for the year ended 31 March 2024
Breckman & Company Limited Chartered Certified Accountants 49 South Molton Street London W1K 5LH
Docusign�Envelope�ID:�59C09841-0DDD-487E-8F4E-9BF224AF5DD5
## Eden Arts Limited
(Limited by Guarantee)
## Contents
||Page|
|---|---|
|Reference and Administrative Details|1|
|Trustees' Report|2 - 6|
|Independent Examiner's Report|7|
|Statement of Financial Activities (including Income and Expenditure Account)|8 - 12|
|Balance Sheet|13|
|Notes to the Financial Statements|14 - 22|
Docusign�Envelope�ID:�59C09841-0DDD-487E-8F4E-9BF224AF5DD5
## Eden Arts Limited
## (Limited by Guarantee)
## Reference and Administrative Details
## Constitution
The company is a private company limited by guarantee registered in EW - England and Wales, company number 07405944, incorporated under the Companies Act and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 1139215.
## Directors and trustees
The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.
At each annual general meeting one third of the directors or, if their number is not three or a multiple of three, the nearest one third must retire from office. If there is only one director, he or she must retire.
The charity may, by ordinary resolution, appoint a person who is willing to act to be director and determine the rotation in which any additional directors are to retire. No person other than a director retiring by rotation maybe appointed a director at any general meeting unless he or she is recommended for re-election by the directors or required notice is given to the meeting in accordance with the Article of Association.
The trustees during the year and since the year end, were :
G M Rigg R Smith resigned 5 October 2023 J Sidney resigned 29 January 2024 A Cowperthwaite K M Beaty (Chair) M L Kirschel M Yaqoob appointed 11 December 2023 C Bowman J Ferguson appointed 11 December 2023
## Secretary
A Lochhead
## Chief executive/day to day management
A Lochhead
## Independent examiners
Breckman & Company Limited, 49 South Molton Street, London W1K 5LH.
## Bankers
NatWest, 24 Devonshire St, Penrith CA11 7ST
## Registered office and operation address
Penrith Old Firestation, Bridge Lane, Penrith CA11 8HY.
1
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## Eden Arts Limited
## (Limited by Guarantee)
## Trustees' Report
The Trustees, who are directors of the Company for the purposes of company law, present their report together with the financial statements of the Charity for the year ending 31 March 2024.
The reference and administrative details set out on page 1 forms part of this report. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and 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).
## Governing Document
Eden Arts Limited was incorporated on 13 October 2010 as a not-for-profit company limited by guarantee to create a new structure for the charity previously run as Eden Arts Trust. Eden Arts Limited is a registered charity. The company was established under a Memorandum of Association, which established the objects and powers of the charitable company and is governed under its Articles of Association.
## **Organisation**
Eden Arts Limited received core funds from Westmorland and Furness Council, and the Arts Council of England. Other funders including Penrith Town Council and Penrith Bid provide project funding for Winter Droving on an annual basis. Further resources are raised through contractual work for arts projects that fall within the charity's objectives as well as fundraising from grant giving organisations for specific projects.
## **Appointment of Directors/Trustees**
At each annual general meeting one third of the directors or, if their number is not three or a multiple of three, the nearest one third must retire from office. If there is only one director, he or she must retire.
The charity may, by ordinary resolution, appoint a person who is willing to act to be director and determine the rotation in which any additional directors are to retire. No person other than a director retiring by rotation maybe appointed a director at any general meeting unless he or she is recommended for re-election by the directors or required notice is given to the meeting in accordance with the Article of Association. As of 31 March 2024, our board members are:
Kevin Beaty (Chair) Gordon Rigg, Mohammed Yaqoob, Miranda Kirschel, Cristina Bowman Ann-Marie Cowperthwaite Jody Ferguson
This year, we received the resignations of John Sidney and Richard Smith, and we welcomed Jody Ferguson to the board.
## Risk Assessment
The trustees have examined the major strategic, business, and operational risks which the charity faces and confirm that systems have been established to enable regular reports to be produced so that the necessary steps can be taken to lessen these risks.
## **Investment Powers and Restrictions**
The Trustees have the power to invest in such assets as they see fit.
2
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## Eden Arts Limited
## (Limited by Guarantee)
## Trustees' Report
## **Objectives and Activities**
Eden Arts is dedicated to creating and facilitating change through culture and arts activities.
In determining these objectives, the Trustees have paid due regard to the Charity Commission guidance on public benefit.
In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'
The trustees confirm that they have had due regard to the Charity Commission’s guidance on public benefit (CC10) when reviewing the charity’s aims and objectives and in planning future activities.
## **Summary of Main Activities in relation to these objectives:**
Eden Arts projects can be small, intimate projects (as small as 1-1 things), or larger things like town festivals and regional strategic plans. It is always about finding creative solutions. Our work is centered in Eden, Cumbria and extends across the north of England.
Beneficiaries are the residents of Eden District, Cumbria and across the North of England and beyond through Cine North and the #66 projects. Our projects aim to be fun, enhance the livability of a place, increase social interaction and accessibility of arts and culture to the general public.
## **Achievements and Performance**
Eden Arts continues to lead on contemporary arts as a National Portfolio Organisation in Cumbria. With the continuing support of our core funders Arts Council England, Westmorland, and Furness Council along with the Cine North project funders Film Hub North, Eden Arts has facilitated numerous innovative contemporary arts experiences this year.
## **Project Highlights & Achievements**
## **Winter Droving**
Winter Droving is a large-scale town festival in Penrith featuring live music and street theatre from across the UK and Europe, a vintage funfair, food, and craft markets, at no cost to its audience.
The Eden Arts team worked tirelessly to adapt and deliver the Winter Droving event held in October 2023.
We worked closely with Westmorland and Furness Council the Licensing and Environmental Health teams, the Safety Advisory Group (SAG), the Police, Council Officers as well as Penrith BID, (the local businesses of Penrith) who wanted to contribute to the event and of course all the local participants.
With the support from our funders, Westmorland & Furness Council, Penrith BID & Pride in Penrith Lottery the Eden Arts team worked hard to create a Winter Droving that was safe and compliant for all to enjoy.
This year we held two Winter Droving events.
## – **The Ullswater Droving Welcoming the Wolf**
The Ullswater Droving took place on Saturday 21 October in Pooley Bridge. We worked with Walk the Plank to bring their geo-lights project to the local area.
In addition to this, we had Spark! drummers from North Shields providing musical entertainment. Over 2,000 people attended to witness the event, and there were around 200 volunteers participating in the project with Walk the Plank.
3
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## Eden Arts Limited
## (Limited by Guarantee)
## Trustees' Report
## **Penrith Winter Droving**
28 October 2023 saw the Penrith Winter Droving return to its usual one-day format, ending with the muchloved procession.
Approx 25,000 people turned out across the course of the day. Community engagement was at an all-time high, with 56 participants in the Drover's Cup, there was a series of mask making workshops which took place both in schools and in Penrith Library in the weeks leading up to the event. Fancy Dress for Dogs, along with a funfair and many performing artists, craft and food stalls.
The finale of the Winter Droving saw our much loved magical fire and light procession make its way through the town with fire torches, musicians and giant animal lanterns
## **The #66 Projects**
Eden Arts continued to plan and deliver new projects within this remit which is funded by Arts Council England and local/combined authorities situated along the A66.
This project is a programme of opportunities for young creatives to develop their skills and experience work in a professional setting.
Partnering with the University of Cumbria Institute of the Arts as part of the #66 Works initiative, we aim to provide a series of opportunities for Emerging Creatives in Cumbria and the #66 region. Some of our present projects are listed below:
## NCNC
Eden Arts were thrilled to be working again with NCNC in the creation of a one-off film event in Middlesbrough in Autumn 2023. This phase of the project saw the ‘shooting’ of the film with plans to ‘screen’ the film in Autumn 2024.
NCNC (Nuovo Cinema Neo Cinetico) is a new Italian cinema genre blending film, photography, and art in public space. This project started in March 2023, and over the course of two week-long visits NCNC have immersed themselves in the stories, history, culture, and characters of Middlesbrough. This project was conceived, written, and shot entirely in Middlesbrough with the people of Middlesbrough…. a film about love, despair and other aliens, a participative project full of encounters and discoveries'.
## Get Shirty - Hartlepool Rovers Ladies RFC
The Get Shirty design competition aimed to create a high-performance innovative women’s kit at a time when the visibility of women in sport is becoming more and more significant.
Entries were open to anyone from school students to professional designers with a prize fund for the winner of £1,000 and £1, 000 going to a women’s sport charity of their choice . The winning kit will be created with an unveiling later on in the year Sept 2023. There was a significant response to the competition with over 120 entries.
4
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## Eden Arts Limited
## (Limited by Guarantee)
## Trustees' Report
## **Epona Community Engagement Project**
With additional funding from the ‘Love Your Landscape’ fund through Friends of the Lake District , Eden Arts carried out an arts and heritage projecting schools around the Tebay area working with 11 schools and with over 300 children from ages 4-11 years. The project culminated in an exhibition in Rheged over 3 months with work produced in the schools as well as a wider display around the concept of a large piece land art on Blease Fell.
## **Rider Spoke**
Eden Arts partnered with the award winning, internationally acclaimed Blast Theory to bring Rider Spoke to 3 different venues at Keswick, Darlington and Redcar as part of the #66 project. The public were invited to ride a bike while listening to a specially created app engaging them in previous participants stories while giving them the opportunity to add their own.
## **Cine North**
Cine North is still an ongoing project, a rural touring community cinema programme funded by Film Hub North, Arts Council England and The Ashley Family Foundation enabling predominantly rurally isolated communities to generate more local activity, more opportunities for people to socialise and reduce loneliness and increase community cohesion through the vehicle of theatrical cinema.
Having previously worked in partnership with the National Science and Media Museum in Bradford, Eden Arts took over sole responsibility for Cine North in March 2018 expanding Eden Arts remit across to Yorkshire.
After being hugely affected by the COVID-19 pandemic, Cine North is still growing with audiences eager to once again share in social screenings of a diverse range of films. From 1 April 2022 - 31 March 2023 Eden Arts screened 81 film titles, held 275 film screenings to a total audience across all films of 11,215.
We continue to work for Cine North, to emphasise the social, fun elements of the project.
## **Picnic Cinema**
Our annual 'Withnail and I' screenings were held over two weekends this year at the filming location (Uncle's Monty's/Crow Crag) in Shap. As always, this event received extremely positive audience feedback and attendance.
## **Strategic**
Adrian Lochhead, Director of Eden Arts is part of a Northern Culture group led by Dave Moutrey of HOME, Manchester, which is a strategic group of major cultural organisations to aid and support COVID-19 recovery in the North of England.
The Director sits on the Culture and Creative panel of Cumbria Local Enterprise Partnership and has contributed to the LEP's Cultural Strategy document.
Eden Arts are a part of the Mela Partnership. The Mela Partnership is a national membership organisation which supports the development of the sector and support and mentors the next generation of Mela Makers.
## **Financial Review**
During this financial year the organisation operated at a surplus of £148,486.
The Trustees of Eden Arts have reviewed the charity’s needs for reserves in line with guidance issued by the Charity Commission and over the forthcoming years are looking to build up a level of reserves to cover.
- £45,000 to meet approximately 3-months salary running costs of the charity including possible sickness, maternity, and redundancy benefits.
- £5,000 to meet unexpected needs, contingencies or risks, the effects of which are not likely to able to be met out of income, if and when they arise; to protect against decline or interruption of future sources of income and to negotiate opportunities and multi-partnership projects.
5
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Eden Arts Limited
(Limited by Guarantee)
## Trustees' Report
- £10,000 to meet commitments in the event of delays in receipt of grants, to ensure continuity in provision of service.
The Trustees and Management are pleased with the progress made in building the reserves and will strive to ensure that this is maintained going forward. The financial position is monitored and reviewed regularly.
## **Small Company Provisions**
This report has been prepared in accordance with the small companies’ regime under the Companies Act 2006.
This report was approved by the Board of Trustees on 31 January 2025 and signed on its behalf by
Kevin Beaty **Chair**
6
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## Independent Examiner's Report to the Trustees of Eden Arts Limited
I report on the accounts of the Company for the year ended 31 March 2024, which are set out on pages 8 to 22.
## Respective responsibilities of trustees and examiner
The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants.
Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:
- ꞏ examine the accounts under section 145 of the 2011 Act;
ꞏ follow the procedures laid down in the general Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act; and
ꞏ state whether particular matters have come to my attention.
## Basis of independent examiner's statement
My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
## Independent examiner's statement
In connection with my examination, no matter has come to my attention
1. which gives me reasonable cause to believe that in, any material respect, the requirements: ꞏ to keep accounting records in accordance with section 386 of the Companies Act 2006; and
ꞏ to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities
have not been met; or
2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.
## Richard Nelson FCCA
## Breckman & Company Limited Chartered Certified Accountants
49 South Molton Street London W1K 5LH 31 January 2025
7
|(Limited by Guarantee)|Statement of Financial Activities (including Income and Expenditure Account)|for the year ended 31 March 2024|Unrestricted
Restricted
2024
Unrestricted
Restricted
2023|funds
funds
Total
funds
funds
Total|Notes
£
£
£
£
£
£|Income and endowments from:
2|Donations and legacies - page 9 - 10
102,102
102,102
137,262
137,262|Charitable activities:|Theatre - page 9 - 10
-
103,120
103,120
-
183,100
183,100|Other trading activities:|Commercial trading operations - page 9 - 10
98,156
-
98,156
43,660
55,703
99,363|Investments - page 10
699
-
699
166
-
166|Total
200,957
103,120
304,077
181,088
238,803
419,891|Expenditure on:|Charitable activities:|Theatre - page 11
226,095
157,136
383,231
222,713
198,732
421,445|Total
226,095
157,136
383,231
222,713
198,732
421,445|Net income / (expenditure)
)
(25,138
)
(54,016
)
(79,154
)
(41,625
40,071
)
(1,554|Transfers between funds
13, 14
-
-
-
)
(1,120
1,120
-|Net movement in funds:
)
(25,138
)
(54,016
)
(79,154
)
(42,745
41,191
)
(1,554|Reconciliation of funds:|Total funds brought forward
103,606
124,034
227,640
146,351
82,843
229,194|Total funds carried forward
13, 14
78,468
70,018
148,486
103,606
124,034
227,640||The notes on pages 14 to 22 form an integral part of these financial statements.|The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing|8|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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## Eden Arts Limited
(Limited by Guarantee)
Year ended 31 March 2024
|9
Income from donations and legacies
Grants
Arts Council England (ACE)
Eden DC core funding
Cumbria County Council
Donations
Appeals and donations
Income from charitable activities
Project specific funding
Grants
Penrith BID
Eden DC project funding
Film Hub North
Darlington Borough Council
Middlesborough Council
Durham County Council
Redcar & Cleveland Borough Council
Allerdale Borough Council
Mela Partnership
Pride in Penrith
Hartlepool Borough Council
Whitehaven Harbour Comm.
Industrial Solutions Hub
Cine North
The 66
Epona-The Wild Pony of the North
Winter Droving
Income from other trading activities
Commercial trading operations
Sponsorship|2024
£
101,840
-
-
101,840
262
102,102
-
-
-
-
-
-
-
-
-
-
-
-
-
18,920
38,000
12,200
34,000
103,120
98,156
98,156|2023
£
101,840
25,000
10,000|
|---|---|---|
|||136,840
422|
|||137,262|
|||5,000
30,000
30,000
5,000
5,000
10,000
44,000
3,600
2,000
3,500
5,000
25,000
15,000
-
-
-
-|
|||183,100|
|||99,363|
|||99,363|
||||
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## Eden Arts Limited
(Limited by Guarantee)
|Investment income
Bank interest received|2024
£
699
699|2023
£
166|
|---|---|---|
|||166|
10
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## Eden Arts Limited
(Limited by Guarantee)
Year ended 31 March 2024
|Expenditure on charitable activities
Theatre
Production costs
Materials
Purchases
Venue costs
Catering and bar
Prizes
Design
Website
Artists fees
Performers fees
Printing costs
Licenses
Travel/subsistence
Advertising
Hire of other assets
Repairs to equipment
Clothing
Merchandising/DVDs
Other costs
Support costs - page 12
Governance costs - page 12|2024
£
362
15,000
6,789
7,228
1,000
2,824
2,636
5,063
31,740
1,931
22,770
1,085
2,706
4,922
6,079
986
12,094
5,195
130,410
247,666
5,155
383,231|2023
£
437
-
21,277
4,767
-
5,389
509
62,957
22,467
1,866
17,403
20,302
3,895
14,183
-
-
4,238
50|
|---|---|---|
|||179,740
235,080
6,625|
|||421,445|
11
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## Eden Arts Limited
## (Limited by Guarantee)
Year ended 31 March 2024
|Support and governance costs
Support costs
Office overheads
Premises expenses
Telephone/internet
Insurance
Repairs/maintenance
Depreciation of plant/machinery
Depreciation of film equipment
Administration costs
Salaries
Freelance fees
Social security costs
Staff pension costs
Staff training
Other staff costs
Staff recruitment
Travel costs
Motor expenses
Printing/postage/stationery
Trade subscriptions
Sundries
Professional/financial
Legal/professional fees
Bank charges
Governance costs
Accountancy/consultancy
Independent examination|2024
£
6,625
1,025
9,352
4,182
654
382
171,316
20,205
10,273
3,832
17
873
914
-
3,858
3,143
3,494
15
6,986
520
2,755
2,400|£
22,220
217,940
7,506
247,666
5,155
252,821|2023
£
20,349
2,146
-
556
1,040
510
141,535
35,713
8,714
3,246
340
2,901
-
1,073
2,684
3,165
2,070
2,986
5,602
450
6,075
550|£
24,601
204,427
6,052|
|---|---|---|---|---|
|||||235,080
6,625|
|||||241,705|
12
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## Eden Arts Limited
(Limited by Guarantee)
Balance Sheet 31 March 2024
|Notes
Fixed assets
Tangible assets
8
Current assets
Debtors
9
Cash at bank and in hand
Liabilties
Creditors: amounts falling
due within one year
10
Net current assets
Total assets less current
liabilities
The funds of the charity
Unrestricted funds
13
- General fund
- Designated funds
Restricted funds
14
Total charity funds|2024
£
6,155
165,420
171,575
)
(26,196|£
3,107
145,379
148,486
75,361
3,107
78,468
70,018
148,486|2023
£
19,959
233,058
253,017
)
(29,520|£
4,143
223,497|
|---|---|---|---|---|
|||||227,640|
|||||80,120
23,486|
|||||103,606
124,034|
|||||227,640|
For the year ending 31 March 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small Companies.
## Directors' responsibilities:
- The Members have not required the Company to obtain an audit of its accounts for the year in question in accordance with section 476;
- The Directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees on 31 January 2025 and signed on its behalf by
Kevin Beaty Chair
The notes on pages 14 to 22 form an integral part of these financial statements.
13
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## Eden Arts Limited
(Limited by Guarantee)
## Notes to the Financial Statements for the year ended 31 March 2024
## 1. Accounting policies
## 1.1. Basis of preparing the financial statements
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (issued in October 2019) 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 2019) - (Charities SORP (FRS 102)), and the Companies Act 2006.
The charity 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 note(s).
## 1.2. Preparation of the accounts on a going concern basis.
The company is dependent on the continued support of grant aiding bodies. The trustees believe that the company will continue to receive this support and accordingly consider that it is appropriate to prepare the financial statements on the going concern basis.
14
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## Eden Arts Limited
## (Limited by Guarantee)
## Notes to the Financial Statements
## for the year ended 31 March 2024
## 1.3. Incoming resources
All incoming resources are included in the Statement of Financial Activities when:
- the charity is legally entitled to the funds
- any performance conditions attached to the income have been met or are fully within the control of the charity
- there is sufficient certainty that receipt of the income is considered probable
- the amount can be reliably measured
## - Donations and legacies
Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:
- when donors specify that grants/donations given to the charity must be used in future accounting periods, the income is deferred until those periods
- when donors impose conditions which have to be fulfilled before the charity becomes entitled to use such income, the income is deferred and not included in incoming resources until the preconditions for use are met.
## - Charitable activities
Theatre income - income from box office, performance fees and sundry other theatrical income is included in incoming resources in the period in which the relevant show takes place.
Project specific funding - when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.
## - Donated services and facilities
Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.
## - Investment income
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
15
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## Eden Arts Limited
(Limited by Guarantee)
## Notes to the Financial Statements for the year ended 31 March 2024
## 1.4. Expenditure
All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:
- there is a legal or constructive obligation to make a payment
- it is probable that settlement will be required
- the amount of the obligation can be measured reliably
## - Costs of raising funds
Costs incurred in attracting donations, and those incurred in trading activities that raise funds.
## - Charitable activities
Theatre production costs - costs incurred in production and running of productions toured in the year.
## - Support costs
The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to theatre production costs.
## - Governance costs
Costs associated with the constitutional and statutory requirements of the charity.
## 1.5. Fund accounting
Funds held by the charity are either:
- Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the trustees.
- Designated funds - these are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.
- Restricted funds - these are funds that can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## 1.6. Tangible fixed assets and depreciation
Individual fixed assets costing £100 or more are capitalised at cost.
Depreciation is provided at annual rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:
- Plant and machinery 25% reducing balance / straight line over 3 years basis - Fixtures/fittings/equipment 25% reducing balance basis Motor vehicles - 33.3% reducing balance basis
## 1.7. Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.
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## Eden Arts Limited
(Limited by Guarantee)
## Notes to the Financial Statements for the year ended 31 March 2024
## 1.8. Cash at bank and in hand
Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## 1.9. Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## 1.10. Pensions
The company operates a defined contribution scheme for the benefit of its employees. contributions payable are recognised as expenditure when due.
## 1.11. Leasing
Rentals payable under operating leases are charged to the income and expenditure account on a straight line basis over the lease term.
## 1.12. Financial Instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value (with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method).
## 1.13. Significant Accounting Estimates and Judgements
In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.
## 2. Incoming resources
The total incoming resources for the year have been derived from the principal activity undertaken wholly in the UK.
|3.|Net income/(expenditure) for the year is|2024|2023|
|---|---|---|---|
||stated after charging:|£|£|
||Depreciation of tangible fixed assets|1,036|1,550|
||Independent examiners fees:|||
||- independent examination|2,400|550|
||- other services|2,755|6,075|
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## Eden Arts Limited
(Limited by Guarantee)
Notes to the Financial Statements for the year ended 31 March 2024
## 4. Trustees' emoluments and reimbursed expenses
The trustees received no remuneration during the year (2023 - £nil).
The aggregated amount reimbursed to trustees during the year was £nil (2023 - £nil).
|5.
Staff costs and numbers
Staff costs
Salaries and wages
Social security costs
Pension costs|2024
£
171,316
10,273
3,832
185,421|2023
£
141,535
8,714
3,246|
|---|---|---|
|||153,495|
No employee earned £60,000 or more during the year (2023 - nil).
The key management personnel of the charity comprise the Trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity were £53,596 (2023: £nil).
## Staff numbers
The average numbers of employees (including casual and part time staff) during the year was made up as follows:
|
up as follows:|||||
|---|---|---|---|---|
||2024||2023||
||Number||Number||
|Support||8||5|
## 6. Pension costs
The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £3,832 (2023 - £3,246).
## 7. Corporation taxation
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
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## Eden Arts Limited
## (Limited by Guarantee)
## Notes to the Financial Statements for the year ended 31 March 2024
|8.
Fixed assets - tangible assets
Plant/
Fixtures/
Motor
machinery
fittings/
vehicles
equipment
£
£
£
Cost
1 April 2023 /
31 March 2024
10,967
24,993
18,115
Depreciation
1 April 2023
8,350
23,467
18,115
Charge for year
654
382
-
31 March 2024
9,004
23,849
18,115
Net book values
31 March 2024
1,963
1,144
-
31 March 2023
2,617
1,526
-
9.
Debtors
2024
£
Trade debtors
2,418
Other debtors
3,737
Prepayments
-
6,155
10.
Creditors: amounts falling due
2024
within one year
£
Trade creditors
785
Other taxation/social security
-
Other creditors
-
Accruals
2,525
Deferred income (note 11)
22,886
26,196|Total
£
54,075|
|---|---|
||49,932
1,036|
||50,968|
||3,107|
||4,143|
||2023
£
16,534
-
3,425|
||19,959|
||2023
£
2,834
372
1,798
4,521
19,995|
||29,520|
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## Eden Arts Limited
(Limited by Guarantee)
Notes to the Financial Statements for the year ended 31 March 2024
## 11. Deferred income
|Deferred income
Balance at 1 April 2023
Amount released to incoming resources
Amount deferred in the year
Balance at 31 March 2024|£
19,995
)
(19,995
22,886|
|---|---|
||22,886|
Deferred income relates to Withnail and I event held for two weekends in July 2024.
## 12. Limited by guarantee
The private limited company is limited by guarantee, registered in EW - England and Wales, and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 March 2024 there were 7 members.
|13.|Unrestricted funds|Brought|Incoming|Outgoing|Transfers|||Carried|
|---|---|---|---|---|---|---|---|---|
|||forward|resources|resources||||forward|
|||£|£|£|£|||£|
||General fund|80,120|200,957|)
(226,095|20,379|||75,361|
||Designated funds:||||||||
||Fixed asset reserves|4,143|-|-|(1,036|)||3,107|
||Future projects|19,343|-|-|(19,343||)|-|
|||103,606|200,957|)
(226,095|-|||78,468|
## Fixed asset reserves
Held for all unrestricted assets purchased by the charity.
## Future projects
Funds held for use on future projects including the Winter Droving trail
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## Eden Arts Limited
(Limited by Guarantee)
Notes to the Financial Statements for the year ended 31 March 2024
|14.|Restricted funds|Brought|Incoming|Outgoing|Carried|
|---|---|---|---|---|---|
|||forward|resources|resources|forward|
|||£|£|£|£|
||Winter Droving|3,788|34,000|)
(34,000|3,788|
||Cine North|66,230|18,920|)
(18,920|66,230|
||The 66|54,016|38,000|)
(92,016|-|
||Epona- The Wild Pony of the North|-|12,200|)
(12,200|-|
|||124,034|103,120|)
(157,136|70,018|
## Winter Droving
Celebrating the end of the harvest and welcoming winter, this annual event in Penrith featured masked musicians, street performers, a vintage funfair, market stalls, and a fire and light procession with giant lanterns and torches.
## Cine North
Supporting rural communities with cinema events that combine film screenings with social activities such as music, food, and games. The program provides technical and promotional support to venues in Yorkshire, Cumbria, Lancashire, and Tees Valley.
## The 66
A programme funded by Arts Council England and local authorities along the A66, offering opportunities for young creatives to develop skills and gain professional experience. In partnership with the University of Cumbria’s #66 Works initiative, it supports emerging creatives in Cumbria and the surrounding region.
## Epona- The Wild Pony of the North
A project creating a large-scale land art piece inspired by Cumbria’s native Fell pony, raising awareness of semi-feral herds and engaging local communities through displays and educational activities.
## 15. Analysis of net assets between funds
|Analysis of net assets between funds||
|---|---|
|General
Designated
Restricted
funds
funds
funds
£
£
£
Fund balances at 31 March 2024
are represented by:
Tangible fixed assets
-
3,107
-
Net current assets
75,361
-
70,018
75,361
3,107
70,018|Total
£
3,107
145,379|
||148,486|
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## Eden Arts Limited
(Limited by Guarantee)
## Notes to the Financial Statements for the year ended 31 March 2024
## 16. Financial commitments
At 31 March 2024 the company had total commitments under non-cancellable operating leases as follows:
|
follows:|||
|---|---|---|
|Due:
Within one year
Between one and five years
In over five years|2024
£
1,968
6,396
-
8,364|2023
£
-
-
10,332|
|||10,332|
## 17. Related party transactions
During the year the company had no related party transactions that require disclosure.
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