Company re8istration number. 07497044 Charity rewraiioty uumbw. 1140462 Glasbury Arts Ltd (A ¢(Y liJni*d by SuaTte¢} Annval Report and Financial Statem for ¢h¢ Y¢arEnded 31 Mah 2024 Sthg by Sally Matthews King Morter Proud & Co Ltd Kings Arn Vaults Wwtton LD3 7EF
Glasbury Arts Ltd Contents 2¢fae alld AdministTrtiv¢ tktoils 25 Indwdeoi EYamiDerfs Rqjort SkntsmEftt of FinatiGiAI Activities Balance Stseet 8109 to the Financial Ststemetsts Ioto 16 SOFApErfimd 17to 18
Glasbury Arts Ltd RefereD¢e and Admlntstratfive Detsils Trwte¢i John FitZ8erald Alyson Hearn Kayleigh Hughe$ Juliet P¥¢TMith Anne Schofield J¢n¢tte Arnold Susan Wilde¢ Ch•rtty R¢glstr&don Number 1140462 ComyDy Ra¢lon Nuwber 07497044 Th¢ charity is incQLa1cd in United Kingdo Rrytstered Offl¢e 5 Oaks Gldsbury on Wy¢ P0S HR3 SPE 5 Twtn Oaks Glasbury on Wye HR3 SPE Indeped¢llt Eunthier Ktttg Morter Proud & Co Ltd King8 Arms Vaults W•ton LD3 7EF B•nke CbllritiesAid Fouttdation 25 Kings Ifill Avenue Kin¥5 Hill West Malliog Ketst ME194JQ PaBe I
Glasbury Arts Ltd Trustees, Report The rru8t¢¢& who ar¢ dITlor$ for the pUnseS ofcompany law, present thc annual rq togetherwith th¢ fiwcial statemeots and aulitots, rert of the ¢harithbl¢ ¢ximpany foT the year cnded 31 Mar¢h 2024. ObJe¢tlves Jilld a¢tlvltles The Object of the Charity 1$ to adv8tt¢e the visu81 and wfoTmiD8 arts forth6pub]icbenefftby' l. Brinwg the higbcst possible quality of p¢rfornkets and practitionS inthe vigjal •j perfonniD8 arl8 to G1asbury.oWye atsd surmwdmg comn)unilie6. 2. EtKouraBing and devdopitig parti¢ipation in thc visual artd perfomiing arts bythe resideuts of Gknsbyry-on-wye and SUTrounding communiti¢8. 3. EncouTaBing and d¢velopiDg e4Jucktiott for lts alld young people in th¢vi5ual aud perforniing atts living ia GI2$bwon-wY¢ and wm)undiDg coThmullitie P4blicBenefii Cbaritits musl rwl on thepubli¢ bell¢fit they provide aDd G]85bury Art5 is not cxcrnptfmm thaL For ex8n¥*le, the Harps in Schth)Is project has provided free harp tuition to youngp¢opl¢ WI Dornialty would n eonsidwplayDIB a rttusi¢a] iDstrurn¢nt, either because pareuts Lould afford to m¢¢t th¢ or families did Jjot fe¢1 ¢onfIdt ¢nouglL to encourd8e such acti¢$. tn additi(xi. we knowthat our 8nMu81 exhibittOnPTovid¢8 oppottunÉti¢s ftsrl( in¢luding youngpeop]e, to display their thlent& &$ well as visilors enjoying an ¢xciling and stimulating experien¢e. Arts The ADDuai Exhibitirn ill October 2023 was our 20th, its origifjs predating th¢ s¢ttin8 up ofthe Charity in 2011. The Exhibition had a variety of artistic exhibi from a life size sthg s¢ulpture by Sally Matthews. painting5 on 108rt from the Cyfartha Castle Museuln and Art Gallery. pem)8ment Collection, patntin84 Ston¢ ¢utrÉn& gitt&s de5igffj wocdand t¢xtil¢s by local artists atyj ex(iting WOTk by GwernyfedHigh School A-LeYel and GCSE sthdellts. ItW&8 a]so a r&wrd year for visiior nun)bas and 1¢$. Next y¢ar our exhibition will be partof the Celebf8tion of W¢l8h Contemporary Pait)ting s¢ri¢sof ¢xhibitions ac Wales. The truth confinn that they have ¢omp]i¢d with th¢ r¢quir¢ments of section 17 of thc ChaTiti¢s A¢t2011 to have due regard to the public benefit guidanee published by the Charity Cornmi&%iott for England fjtld Wale&. Page 2
Clasbury Arts Ltd Trustees. Report P¢rfornthgArts IntbisfinAncial year we wereable to contiDue Warps in Schools, proje¢¢ ot Gwernyfed High se110ring free luition to any child itiye4r 7 who wanted to le4rn knplay the ba4>. trresPKtiveoftheir rally'S fan¢1 circuTDStances. ID Jalluary 21)24 a new groypof year 4 5tud¢nts w¢re added to thePrO 8t the Chwch in Wths Prinjary School irh Clyw. By the endof March 2024, Nenty-one shents were under80iDg bJition. Ow thath golts the Cojwnutsity FundWale8 The Mid Wales Music Tr¥Js¢and WH Ri¢ketts & Sons for their fina11 wtv>rt that ¢tUr¢S the Continui SUCCaSs of thIsproae. Tr HaTP8 in sChIs pmBramme w out of our anoual rttt¢mational Harp Summer S¢lwl which tra¢ts plgyus of gll a8¢5 frrth scr0 Wale& the wid¢r UKaDd Euro Following the pandemi¢ and $1 of IiviDB ¢ris¢& th¢ numbcrs gILIng wtt¢down but with a 51ight ITreS¢ in 2023. Thanks io a from ihc Nat81 Musi¢ Plan. aDy Pe0 aitending state s¢hool Powys was offered * fretpjace. This eombin&tioD ofoffering free tyiliots fr¢£places at the 8umDv8¢hool 18 wiique. The Qarity was imm¢Ju¢ly fotbJn8 to receive attoffer to make a publicity firni from ¥4ward wiDoiD8 cin¢matO8rar&er. Richa Gr¢atrVA, at ourhaTP prograrnme. The film was made b¢nveen March and November ard featured CatriD Fincty Jo Brnnd atsj two ofour stsjdwts atGwemyftd HI S¢knl. Ap9rtfrbe18 partiadaAy ugefui in fuEhth¥ising. it has 8]so pmvoked a number of po1¥e comments Un¢WtY from prominent p¢opl¢ the arts WOTI& Such 8$ IA)rd M¢fvyn Brag8. who emailed to ¢ongrulal¢ us on ow work and d¢sryi whatwe are doing .4 tajl ¢attdl¢ in ¥ datkni8ht'. Wc are ¢xtrem¢ly wfui to Richard alld histeam for th¢ir 8thcr05ity. Ovrth8nk8 go toth¢ Gw¢ndoline aml Margaret DY4ViS Charity and fvlari¢ Caysott forthe>rcoDttnuin8 fiftaneial supprt ¢&8¢nlial to the continuation of th¢ WOTk of this sumrner Sch7. The TnW¢e5 thatthty have complied with tht requirements of stttion 4 ofthe tharitRe5 Act 2011 kn hav¢ due t¢8ard to the public befit gutdanc¢ publishedby tht awity Comtt]i8siory for En8laDd and Wal¢s. Membeahip of G Art% is open to everyone ¢ither by bttomtng a volunteer orby F4yin8 anomi rnembcrthip fee. ThTS &bleS ev0¢ ¢0 contribut¢ to nning theorgani58ti0n. A5 Trwrtcd last yearsy, we 10g151rA of wr Yolunt¢¢TS during the pand1¢ ¢ithertbroll8h d¢th m l*alth ( movin8 away. We havenoty¢tb¢en 8ble to fiJTty rtplace them but this is something we are WOTkin8 011. In to meDth¢rs and volwite¢E5 we have sev¢ll Patrom. they are Catrin Finch. Jo Bmbj. Kathuin¢ Thorn Harrid FAri& Alan Salisbury, U)rd David atyj Lady Margaret Lipsey and Eleattor Turner. These are ttiyl¢ who te mfrde a major Contribution to th¢ $llprt of the (harity through its ¥tivities orby repr¢s¢ntin8 our ititetestsk) widvworld. We a ¢onsMtsabk debt of 8ratitiMleto th¢m all. The charity contrDll¢d by its Memoraftdum and Articlcs of knsoci8tiOn. Thc5¢ were adopred on 5th January 201I arA subsquently approved by G)mpaDies HO on 18th Jatsuary 2011 and the C]Jarities COM[nb on 16th FetYU8ry 2011. ThecFthrity stOTt¢d operatiD8 on 1st April 2011. P88e 3
Glasbury Arts Ltd Trustses, Report New Tntee$ are elected by the memb¢rs atthe Annual General Me¢tiAg. ststemwt of trnstees, rt&ptsnsibili¢ies The trustees (who aFe also tbe dIrKtO of Gla5bwy Akts tAd for the purposes of company bw) are restK)nsil¥le for prepbring thr tnjsteerf r¢port aDd the financial statements in hccordonce with app]icabl¢ llw ond Unit¢d Killgdom Aceounting SlatrMlaTds (Unitcd Kingdom fjenerally Accepted Accow)tiDg PtaLice), in¢ludiD8FRS 102'T Firmticial R¢portiog Standard applicable in the UK and Rfwblic ollrelatLd°. Company law requir¢s the tn]#ees to prepaTe fman¢A81 ststements for ¢8dL fJnaDcial year. Untscompany law the trustees must ttot approve the financiaj sraternents unkss they are satisfied that th¢y giv¢ ¥ tFue and fair view of the srate of &ffaits of the charitsble eon)pany ond of thc itLcotlliAg resources and #pplicaiion of r¢source4 including its iLcome atld expendire, of the chArit8ble wmpany forthatperiod. In preparing thege fm8neial stalennts. the IrustEC5 arc r¢quira4 to: select witable accounting policies and apply them consistently,. ¢thervethe m¢tF¥)ds aNI prillciples in the Charities SORP. makc jud8em¢nts and e5tirnat&% that reasonable and pnTd¢nL 6tat¢whether applicabl¢ aOUntIng sthndardB, comprising FRS 102 have be¢n follow¢d, subie¢tth any material deportswdiItsSed aJJd explained in the financial statements. ajjd prepare the finatsffi' $tements on the goitg ¢QDcern ba51$ ullles8 it is inowropriate to PTesum¢ that the baritable compony will Colltin in busIll. The InLees Are Yespon8ible fw kEepthg PTop¢r acwunting records that can dis¢io$¢ with reasooabl¢ accuracy at time the financial posiiion ofthe chlIable Company amd ¢hablc them to ensur¢ that the fmancial stat¢rts comply with the Companies Ad XJ06. They are 811 rcspottsible for 8afegllardittg the &%8eLs of the clwitsbk cowally and h¢n¢e fortakingT¢asonable steps fortheprcvtntioll alld d¢t¢ction of fraud and other IrregulltIe5. The tru5t¢es are r¢sponsbi le for ih¢ maintenance and irtte8rity of the COryM)Yat¢ and fJnan¢ial infornwtion in¢lud¢d o the charitable ¢ompany's website. Legislation governing the prep&r8tiOD and disseminalion orfwallcial sknm¢Ats y differ k8islation in other Jur11¢1108. Dlgelowre of inft)nntloll ts *udltor Ea¢h trystee has tak $l¢p$ that they ought to have taken as a mistee in order to make th¢rns¢lv¢s aware of any televant audit infornwlion to establish that the charitys audits)r is awar¢ of that iDfornJatiOlI. The tn]stccs coofimi thatthEre is no relcvant inforn¥tion that they know of and of which they know the audit1$ unaware. Pase 4
Gla8bury Arts Ltd Trustees, Report The annual report was apprtsvedby thc trusteC5 of the on 23 Septcmb¢r 2024 8lld signed on i¢sb¢b41fby: John Fitzgttaly Tmstee Alyson Hearn Pa8¢ 5
Glasbury Arts Ltd Independ¢nt Eiamln¢r's Report to the trustses of Gl8sbury Arts Ltd Cthe Company,) T the chariry mist¢¢$ on Tny exarnination of the accounts of th¢ Cornpany for the yearcndrAJ 31 Mwrh 2024. R#poDslbSlltks •nd b8dB of r410rt As the ChIty'StrUste£S of th¢ Cornpany (and also its directo for the pu06¢$ of wDp8ny ]aw} you are rLw)Nibl¢ for the pr¢p4ratiou of the 4ccounts ID accordallr¢ with th¢ r¢quir¢tiwts of the CoTnpanics A¢1 2006{'the 2006 Act.). Havin8 5atisfiedmy5elf that the accout% of th¢ Company are not required to be dited under Part 16 of the 21x76 Act aDd ate ¢libnl)ie foi itidwelldeot examination. I re)rt in rof Ttly cxamillatron of your¢barity'$ awounts as rried out utsder sedion 145 of the Chgriii¢s A¢t 2011 ('tbe 2011 ALX.). wrying out my txxmiDthOtt I b4ve toliowed the D1CtIOnsgLy¢ll by th¢ Chprity COMMI0 utyJ¢rse¢lion 145{SXb} of the 2011 ACL IndyThdent exmltrtr'i I have completed my examination. l ¢onfirn] thatno matt¢r5 hav¢ ¢ome to my attentioti in conttertioDwith the ¢Karnination giving Tll¢ c$¢ to beli¢ve: l. accowiting were notkep¢ inTespect of Glthury kn4 Ltd ¥ r¢quiredby sectkoo 386 of the 2006 Act 3. the 8ccounts do not (¥miply with the a¢counlitig r¢quirerneDts ocsection 396 of th¢ 21M16 Att other thall any requireTn¢tst thatthc arGowits give a'tsveand fairview vthich is not & motter consideffd as pwt of aa independent examirtation. or 4. the i¢COUDts hAve]wtbeets prepared io A¢TanC¢ with the mdhods andprin¢yples of the StstcmLryht of Recornmenl Prdrthc¢ fur 8c¢ounkn8 and Teporting by charitie8 lapplic&ble to ¢hariti¢s prepa[ll thcir accounts in a¢¢ordan¢e with the Financial Kew)rting Standard &pplic4bl¢ in the UK and Republic ofitclattd (FRS 102)]. I hav¢ 7 aod have ¢om¢ acr055 no othermattets itt connection with th¢ examinatiOlI to which attetttiort should be ID thi8 rep)rtinorder to enable 8 proper uDd¢r8tanding of th¢ Ocnts to bere&1. John Bromley Kinga Arn Vaults WattoD LD3 7EF 23 Sep*mber2024 PA8t 6
Glasbury Arts Ltd Statement of Fln4nci&l A¢dvldes for the Year Ended 31 March 2024 (In¢ludlng Income and Expettdlturt Account ADd Sthtement of Total Reeognised Galns 2nd Losses) Ure8trlcted Totsl 2024 Restrlctsd fwidl f4ole ENdoFvment$ from". DoAaLions and legaci& Other Irading acti"1ts¢5 2,865 7,182 16 14.889 4.480 17.754 11.662 20 Towl income 29.436 Exp¢nditor¢ Charitable activities 8,953 18 32 27285 Totsl expenditute 953 18J32 27285 Net income 1,041 2.151 Net movement in fun i.iio 1.041 2.151 RecgncilitioTr of ldI Totsl funds brou8ht forn 16.636 TO fiM)ds Guried forward 13 19.989 Umr¢8trlcted Restrkted fu•d8 2023 EDdoMll¢nts from: Donatio tnd legaci Othcrtrading artiviti¢8 2.061 16,165 6.010 18.226 11.622 To¢al income Expettdlture on: Ch4Titable a¢tiviti 7.405 9.073 Total expenditure .405 21.668) 29 073) Net incDme 268 507 775 Net mo%'ement in fiu 268 507 775 ReconfMl•Uon of furtd* Tot fimds brotwi forward 935 TO futth c4Thitd fonvard The fjjnds breakdoll £or2023 is shown note 13. 13 1.203 Th¢ uote5 1)n 10 to 16 form an iDte8fdlwt of these fioancial 5talettMt& Pa8e 7
GlsbMry Arts Ltd (Reglstratlon number.. 07497044) Balance Sheet as at 31 March 2024 2024 21J23 Note Tgible assds 10 8.465 CurTent 495¢1s Cad) d baok and ID hand 11.824 Credtt•rs: AmoNnts f•lllD8 dlle wlthl• yur 12 300 31)0 Net a&%ets Fumd5 of tbt Cknrlty: 17.677 16.635 2Jl2 13 For the fmancial pr endiog 31 March 2024 the charity w&s entilled to exen]puon from audit under se¢tion 477 or the Comp1¢$ Ad 201kS relalingto small companies. Dite¢tors' rewtsAbilities.' Th¢ m¢mbeTS havetyjt wired the chaiityto obtsirt att 2uditof its aLrOA forth¢ yearin question in witb stttion 476. atwj . The dir¢ctOTS acknowl&ts¢ theRr responsibilities for complyingwith ther4uirementsofth¢ Act with weci to ac¢ounlin8 records and theprepardtion of acco1& Th¢ not¢s pages 10 to 16 form an intewdl p( of the8¢ financial staten. Page 8
Glasbury Arts Ltd (Registrallon number: 07497044) BaJvdn¢e Sh¢tt 8$ at 31 March 2024 The financial ststements OD pagE$ 7 to 16 w¢r¢ appvv¢d by trust¢e4 and authoristij for issue on 23 Scptemb 2024 and signed on their bchaifby= Filzgern Aly8otL H¢aTll TnJ8Èee The notes on pa% 10 to 16 forni an illl¢giJl part of these fiwucial sraternent& P9
Glasbury Arts Ltd Notes to the Fin4nclil Ststrm¢nt8 for the Year Ended 31 M¥r¢h 2024 I Cb•rlty sthtlls The charity Is limited by guar0• incoryt¢d in UniteA Kingdom. and Con$¢qutlY dou )1 hav¢ shar¢ ¢apito1. Ea¢h ofthe trumees is liabl¢ to cDnrtibute 8D amouutn¢t excttdll £Nil WArdS tlw assets of the clwity ID the evelltof liquidatio The 8ddrt$9 of its regithd office is: 5 Twtrn Oaks GILsbury on Wy¢ Powys HRJ SPE Th¢ prin¢ipal plac¢ Ofbusi&S 15.. 5 Twin 08ks GItsury on Wye Pow HK3 SPE TtLe5e fuwnci&l Statements We euthoTis¢d for issu¢ by the tntstees on 23 S¢ptanb¢r2024. 2 Ae¢oBntEDg polkle& Summary 01slylficAnt ac¢ouTh¢Sng pDlacle• kty attountlng eJtlm4¢¢s The wirteipal accountillg p)licie6 applied in the preparation of these financial zre below. Th¢s¢ licies hAve betn wsiMently applied to all the years presgnie4 unless otherwis¢ wted. The rJtthCl8l5talejllcts havebeen prep8r¢d in accord8nce with Accounting and ReportlD8 by Chatities: Ststenx of Recommended PEaetiee (applic4ble to cbarities prq)atin8 their aceouttts in o¢¢orilan¢e with th¢ FiD#n¢iaJ Reportitig Sththdd applicabl¢ in th¢ UK and Republic of Ireland (FRS 102)) (issued in (ktDber2019)- {Chariti¢S SORP (FRS 102}). the Fin8n¢iai Reporting Stsndard applicable tn th¢ UK 8od Republi¢ of Treland (FIIS 102) and thcCompani¢s A¢t 2006. Ba8x¥ of prepArnQiou Glasbury ArLs L4d meets the definiiioD of & public beDefit (¥htity under FRS 102. A&%ts Ilabiliiiesgre ini¢ially TwisedathistoriI cost ortransaclion vthtstsl&ss otherwise stated in the relevant a¢¢ountiAg policy n(& Th¢ trust¢¢5 ¢onsidLY thattbere are no matrrial un¢¢rtsinti¢3 4bout the chwitys ability to continu¢ agoing nor any sigttifmt areas of wi¢¢rt4inty that affect the ¢#rryitig va]u¢ of889¢ts held by Charity. Ex¢mptioD fro wep#rkng* IIOTF ststem¢Dt Th¢ ¢han"ty opted to early adopt Bulletin I published [ 2 Ftbrll 2016 and have ther¢f¢x¢notin¢ludd a ¢ath flow stawmeot in these faTrOt81 siatements. Page 10
Glasbury Arts Ltd Notes to the Financl&l Stxttmen($ for the Year Ended 31 March 21)24 Ineome and endowments All incou)e is rttogDised once the charity has ertiitlem¢n¢ to the income, it is pmbAble that thc ITOIC TKe1v and the amount of the income receivabk catt b¢ me8sured reliably. Donti0Th4 8Te rrcogtsiwj whellthe charity h&8 beert noiified irt writingof EM)th the amowit and SettIent dete. In the event th a dottation 1$ $ubjLxt to conditions that Tequire a l¢v¢l of p¢rform8ttce by the clwity before Ibe chsjiry is cwid¢d to the the incorne is defcfted atyl noi r01$ until eith¢r ttN)se conth'tiolls are fully or tb¢ fuifiiment of those ¢onditions is wlwlty witbin the control of the Charity and li is ptobRble thatthese cotylitioos will be fvlfill¢d in the reportin8 period. Gr4nts rettlv4N¢ Gwits recogn15ed whffx the charity h&8 an entitlernent tothe fjjtwlg and any ¢oDdition$ linked kn the hav¢ been m¢t IVher¢ perfomance conditions are atta¢heJJ to the graftt ond ore yet to be mel the incom¢ 15 rwis¢d as a liability and induded on thebalance sheet &4 def¢rred illme to be rel¢&8e Dividends are reeogttis¢donce th¢ dividud has beffl declared and ttotifi¢ation IM been re¢¢iv¢d of the di ExpEndlture All exndT1Urc Is reco8tiis¢d once ih¢re is a l¢ga] OT ¢onstructive oblig2tion to that expendiknr. ir is probab]e settlem1 15 required and the nounl me&wred teliably. All costs are 10t#ld to the 8pplicable exrairaie heathng that aggregate $imiJ8r costs to that category. Where costs con1 be dircctly attribut¢d to particularhcttdings they have been illocated on a bllsis consisteDt with the use of resources, with central stsff cosls located ott the ba818 of time Spen( and deprlation eharges 0eathd on the portion of the as8rt'S Us¢. Other wpprteosts 8re allOted based on the spreadof stsff costs. CILan'tablc expcndihwe ci)mpmts those ¢osts iDWTed by the chatity iti the ddtvery of its Activitits attd 8etviees for its bethefAciaries. It iticlud botb costs catt be alloeated directjy w sucb adivitias and tknse costs of att itidirecl nWC$8ary trj SLIP[ t1. Goven)•nte crfts inGludB th¢ wsts attrÈbutsblc to the charity's corrlIance wth ¢ottstiNiional aDd statutorytequiremcnts, includitig audiL sirategi¢ rnaDa8t and rtetings and reimbuTh¢d ¢xpenses. The charity ron5idered tOP8S5 th¢ tests set ot iu Par8ph I Schedule 6 ofthe Finance Ad 2010 8ndthertfi)rc it eetsthe definition of a ¢b8rit8blc company for uK£0C*aon thx puqx)s¢s. Awdin8ly. the c]wity IB Potentialty ¢x¢mpt fmm tsxation in respect of iticomc orc4pitai 8ait)s r¢]V¢d within categories covered by chap 3 Part J I ofthe CorporatioD Tax Act 2010 or SE¢tion 256 of th¢ Tation of Chargeable Gzin5 Ad 1992, to tbc txtcnt that such income or gain5 arv applied extlusiit]y to charitablepul Pagell
CEa$bury Arts Ltd Nole8 to the Flnanclydl Statements foT the Year Ended 31 March 20 T4ThgiMe rued a58ets Individual fAxed &%sets costing £300.00 OF moreare initially recorded at cost. Depre¢iitioth nwrt(yth Deprtciation 15 pmided on tsngible fix1 ass¢ts 50 as to write off the ¢ost or valu10 kss any eMxm8t¢d residTral vlle. ovcr thcir cxpectcd u8efjJl ¢¢cmomic lifr a5 follows". DepredatloD mell1 rts Reducing bal8n¢¢ and thi8bt li Plant equipmeDI Cash axd equfvaleDts Cash and cash eqDivalents comprise cash on hand and call deposits, and othershort-term highty liquid investmctsts that are readily converttble to R known arnouTrt of cash and arc 5ubj¢¢t to an insignifi¢anl Tisk of cltange in vlu¢. Uore8tri¢t¢d inwm¢ funds OTe getterai fjjndsthat are av8ilabl¢ for u8¢ atth¢ trustee$ di5crdion io furthrn¢¢ of the objectivu of tbe charity. Restrided income fuD&8 are tknse donttted foruse Iti parti¢ulgr are8orfor specific PUTPOW the of wbich 18 Fin8Dcial ass¢ts and fitwicial liabiliti aye rrf08ti1a when the cbarity becorn a party W lh¢ ¢ontwtual pmvtsions of the instrnmenL FitttLeiAi liabiliiies atsd equtty iT¢nents ar¢ clalfied aceorthg to the subs¢8nce of th¢ ¢Ontractal arrangeNlts enteTed into. A* equity instsiuJMt 18 any Contract that evi&Dces a Fu1thl iDl¢rert ¢be a8¥ts of the tharity aft¢r dedu¢iTn8 all of its Itabilitie& Page l2
Glasbllry Arts Ltd Not¢8 to the Flnllncl Statements for the Year End 31 MArch 2024 A]1 fin8AcRal &wets and liabilities are initt.olly uusured 8t fran¢0 price {in¢luding tT8nsartioD ex• for those assets classifi¢d as at fair value through profil or loss. which are illi¢i8lly measu1 at fairvatue {whith is n0rn1811y the tJJDsactioo pri¢¢ ¢Xcding trarjsacthon costs), unless the arrang¢meDt¢onstitu a fwncing tmsaction. If all amDgem¢nt¢onstitht¢s a fmaDciDg transtiOn, the fiTW]cial Set or financial ]iabi]ity is measwed atthe present value of the ll¢re payin¢nts dJ8counted at a nwk¢t ra of iDt¢resÈ fora $imi]ar debt instru. Finattoial as5¢ts attd liabilities are Only offset in ¢Fke satCDTht of finan¢ial positiott when, a] only th¢ 1$ le8ally ¢nf¢abl¢ rightto Set off the recogwsed amounts and the clwity inter¥Js either to settk ona netb3si4 or to realise the t and Settle tbe liability Simultatu5Iy. Pinancial &wts dert¢ogni8ed when ond only when a) the Contr lights to the cash flows from the t expire OT aEe Settle b) the chaiiry transfers to anoth¢rpaty 5ubstsntially 411 of the risks and r¢w4rd8 of oymership of finla1 a&qeL orcl th¢ Charity. despite havin8 retslned SOME but T¢ all. SiBnificantrisk5 and vaTdsof ownrtship, bas transf¢rrAI control of the a85et to a1)thp. Fin8A¢ial liabiliiie& are dere£ogtLi8ed ¢bnty when theobligation spe¢ifJ&l in the contr¥ct is dts¢harg•l C1¢10 3 from doth1• ##d le%leS UDreslrkted fun f¥llds Dollatiotts and 1¢gles. Don8tioos from ArJdividu&ls Giftaid reclaimed GTan¢% iTrcludingcapAtal grnnts. Graots from other chille$ 2269 596 7.928 1.012 iO.JgJ T•)tsl for 2024 65 T•)141 for 2•23 18226 4 he•me from Oth trading *diwitl¢s Page 13
Glasbury Arts Ltd Notes to the Financiydl Ststemellts for the Ytar Ended 31 March 2024 Unrejtrlcted fvnd Geaeral Totsl fund$ Trading Inco. Sales ofgoods alld s¢rvi Even in¢ome' 3.606 738 7J3S 85 M¢Dthership sukntpttons Oth¢r irthme froM0thtIJillg activiti¢8 85 136 Totsl for 2•24 4.480 11.662 Tot1 for 2b13 5.612 5 Expendlt•r¢M ¢JMrltsble 2ttlvltleA Unrutrlcted ndi Re¢¢0 funds Tol*l Note Gl4sbury Arts Dcwrrial¥)n. amorti58tion othcr $imil&r 8.603 16.086 24,689 190 1,926 320 2.116 TrtfOr 2•24 53 332 27a85 Total 2•23 Page 14
Glasbury Arts Ltd Notes to the Flnanelal Stst¢m¢nt8 for the Year Ended 31 M8rch 2024 Total 6 NetlneomWoutg•kng r¢wMr¢es Nd iocoming teg)ur¢ts for dke y¢ar ioclude.. 2024 2923 Depretialion of fixed &%sets 12 7 Trustees remtrIon Dd ¢xpe•g¢9 No trust• nor any per50D5 connected with them. have received any remwON from the cknity duriog theyellr. 8 IRdÉpendent mnuer8th 2024 2•23 EutuiDation of ihe finaxial statrttlliS 480 9 Tilloo The (blty is a r¢gist¢t¢d ¢lwrity and is ther¢forc rxempt from tsxalK)n. 10 T#RWe fix 8gxets FurAlt•re ad ¢qulpmeDt Tothl Cos¢ At l Aryil 2023 AdditiODS 18J81 18J81 A131 Much 2024 20 16 Depret4a¢lo At l April 2ff23 Cl¢ forthe year 9.735 9.735 At 31 M8r¢h 2024 51 Nrt bo•k vakne Page 15
Gla$bury Arts Ltd Notes to the financlxl Statsm¢nts for the Year Ended 31 March 2024 rnlture Total At 31 Marrh 2024 At 31 M8t¢h 2023 8146 11 C •ué wh eq#lv•ltnts 2Q24 2023 CAsh xt b#JJk 11324 9292 12 Credltors: IOLfIllIng due w1th6n fjneyur 2024 2O23 300 3(Kl 13 Funds BknTrce At Apr4 2023 Resour¢es BAlaDce at 3J March 21Tr24 V•re8trkted funds General 1202 10.¢Nfj3 (8,953) 1312 16.636 19.373 1833• 17.677 To¢41 7285 19.989 Blnee #t31 March 21123 Rtsollrcey expeBded Apyli 21122 U#re•trlrted fvttd8 935 7.673 (7,405) 1203 Re8trf¢ted 1&635 T•tal funth 73 17.838 14 Reid party tranBtttlono P8ge 16
Gl#sbury Arts Ltd Ststement of Flnanclal Activitles by fund for the Year Ended 31 March 2024 Unre8tricted Fund$ Total Total UMr¢%trld¢d lJnrestTiCted 21n3 IDcoJn¢ EDdowme•ts frorn: DO1100S and lego¢ies OthL¥ tradin8 activities Inwtmcrtt income 2,805 7.182 16 2,061 5,6J2 Total income 10.063 EJpeDdkure •#: Charitable activities .953 Total ¢xwMiTtire 8.953 movement 1.110 RecoDclllllthiD of fumds T(rfal IbDdsbrW forward 935 Total funth ctifticd fomrd 2.312 1203 Thi5 does not fo t0[ th¢ $t*utory fmattcial stattments. Pa8¢ 17
Glasbury Arts Ltd ststement of FlnaDclal A¢tivrties by hDd for the Year Ended 31 Mxrch 21124 Restrlctsd Funds Total TotAI Res¢ricted Restrithd Fwids Fund• 2024 21123 DollatiOn6 and le8acLCS Other trading a¢tiviti¢5 Investment IT0C 14.889 16.165 6.010 Total incomc 175 Expendiiure on: ChaTirabl¢ a¢tiviti¢s 18J32 21 T4xal ¢xpMditure l8332 21.668 income Net movcrneDt infund5 1,041 Reconcl#AtIDn of funds Total brots8ht forword 16.636 16.128 17.677 1&635 This page does not form part of the stawtory f?la1 statcmeDt& Page 18