Registered number.. 07406929 Chority number.. 1140913 The Godiva Awakes Trust Trusiees, Report ond Finonciol Stotements For the Yeor Ended 31 Morch 2024 .JDAINS
AUDIT
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Contents Poge Reference ond Administrative Details of the Company, its Trustees and Advisers Trustees, Report Indèpèndent AudStors' Report on the Flnonclol Stotèments Stotement ¢f Finon¢iol A¢tivities 12 8alance Sheet 13 statement of Cash Flows 14 Notès to thè Financial Statèmènts 15-35
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Reference ond Administrotlve Detalls of the Company. Its Trustees ond Advisers For the Year Ended 31 March 2024 Trustees Mr R T A Medwell Mr J McGuigon Ms C Thompson Dr G Shtsrp Ms M Kour Mr S Stewart Ns H Pllling Compony registered number 07409629 Charity reglstered number 1140916 Règistèrèd officè Unit 4. Sandy Lane Business Park Doimler Powerhouse Sondy Lone Coventry West Midlands CVI 4DQ Exècvtive Dlrèctor M Poskitt Chief ¢x¢¢utive ¢ffi¢er J Hytch {Resigned 31/12120231 A Mockechnie (Appointed 01/01/2024) Independent auditors Doins Audit Limiied 2 Chamberloin Squore Poradise Circus Birmingharn B3 3AX Poge I
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Trustees, Report For the Year Ended 31 March 2024 The Trustees present their onnuol report together with the oudited financiol statements ol the company for the 1 April 2023 to 31 March 2024. The Annual Report serves the purposes ol both o Trustees, report ond a directors, report under company law. The Trustèes confirm that the Annuol Report ond linonciol stotements of the choritoble company comply with the current statutory requirernents. the requirements ol the charitable company's governing document cjnd the provisions of the Statement Of Recommended Practice (SORP) applicable to charities preparing their accounts in occordonce with the Finonciol Reporting Stondord opplicoble In the UK and Republic of Irelond {FRS102) (effective 1 Jonuory 2019). Since the compony quolifies os smoll under section 382 of the Componies Act 2006. the Strotegic Report required of mediurn and large componies under the Companies Act 2006 (Stroiegic Report and Oireciors, Report) Regulotions 2013 hos been omltted. structure. governonce and management a. Constltutlon The Godiva Awakes Trust is a choritable company Lirnited by guarantee. incorporated on 15 October 2010 and registered os o chority on 29 Morch 2011 The compony wos estoblished under o Memorondum of Associotion which estoblished the objects ond powers of the choritoble compony ond is governed under Its Articles of Associotion In the event of the compony being wound up the members ore required to contribute on omount not exceeding £10 per member. b. Methods of appointment or election of Trustees The organisation seeks to recruit trustees who are ol a profegsionol gtanding in thè locol community with a range of skills and contacts. Recruitment is largely inforrnal with known professional contoct5 of the existing trustees approached and is open to anybody who hears of the work of the Charity via our many public and community engagement projects. . Risk management The Trustees hove ossessed the mojor risks to which the compony Is exposed. In porticulor those related to the operotions ond finances of the compony. ond are satisfied thot systems and procedures are in ploce to mitigate exposure to the major risks. Objectives and actlvlties a. Strategles for achleving oblectlves The Trust continues to operate under the brand identity of 'lmagineer Productions a division Of The Godiva Awakes Trust.. with the legol entity being the Trust. The Trustees meet every quorter ond review oll of the Boord reports prepored by the Officers. Poge 2
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Trustees, Report (contlnued) For the Year Ended 31 March 2024 Objectives and activities (continued) b. Activities undertaken to achieve objectives This period is morked by various planning initiatives ond delivery of existing programmes in o voriety of nationol settings. CEO and founding Director. Jane Hytch left the company at the end of 2025. handing over to Angus MacKechnie as Creative Director and CEO. Imogineer's programme of gctivity for the period included.. Imagine Bomboo is Everywhere.. Keele Green Festivol - Bamboo Arch Swing (Moy 23) Teach-moke". delivery of early years trainlng for teochers (Jun-Nov 23) BAMBOO production development with NoFit State ot 101 Creotion Centre (Jun 23) Transformations progromme". Godiva Festival (Jul 23) The Powerhouse Youth Zone ot the Godivo Festival with Media Mania (Jul 23} Godiva Puppet - oppeoronce ot Godivo Festival (Jul 23) Imogine Bomboo is Everywhere in the Liverpool Region (Aug 23) 5 Aug. Newton Town Show. Mesnes Pork. Newton le Willows 6 Aug.. Knowsley Flower Show. Court Hey Pork 12 Aug EcoFest. Victoria Park Widnes. Halton 19 Aug Wirral Country Pork. Thurstaston. Wirrol 20 Aug Grecjt George Square. Chinatown 26 Aug Kings Gardens. Southport. Sefton Liverpool progromme Included Imogine Bomboo Orchestro {Pogodo Arts). Home (locol performers). circus equipment (Torn Aitken ond Groce Neville-Evons). bomboo ortworks by ten locol ortists. Imaglne Bomboo is Everywhere oi the National Gollery. London (Aug 23) Mondoy Makers sessions (Sep-Dec 231 Imagine Bamboo is Everywhere.. Summit Liverpool (Oct 23) Creative Explorers". launch ol programme in Nuneoton and Bedworth Borough Council (Nov 23) Tronsformotions progromme.. Doimler Nights (Dec 23) Imogine Bomboo. Coventry University Student Lob (Jon 24) Creotive Explorers.. locol engogement ond bomboo workshops {Jon-Mor 24) Funding". National Portfolio Organisation.. Arts Council England Transformations - European Social Fund (until Dec 23) Tronsformotions - Notionol Lottery Reoching Communities Fund (for 24-27) Powerhouse Youth Zone - Esmée Foirburn Foundotion. Coventry Building Society. Coventry City Council Imogine Bomoo Is Everywhere. Liverpool City Region Combined Authority. Culture Liverpool Teach-make." Paul Homlyn Foundation Page 3
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Trustees, Report (contlnued) For the Year Ended 31 March 2024 Objectives and activities (continued) c. Public benefit The Trusteès have eoch received copies ol the Chority Commission Guidelines on Public Benefit ond this forms port of the Induction Pack for new Trustees. The Public 8enefit provided by the charity IS Promoting artistic appreciation. Achievemènts ond pèrformance a. Moin o¢hievement$ of the ¢ompuny The Godivo Awokes Trust. os Imogineer Productions. delivered o number of public events ond engogement projects with the community. Foremost wos the Imogine Bomboo project. with iierotions In Liverpool. London ond Coventry. The young people's engagement progromme. Tronglormoiions. was o major pori of our work at the Godiva Festival. We partnered with Media Monia to deliver the Powerhouse Youth Zone. This period was marked by lundroising ond planning for the Creotive Explorers project and becoming port of the Arts Council Englond Notional Portfolio. tss well os recruitment of a new Creative Director and Senior Managernent team. Financial revièw a. Going ¢on¢ern After moking oppropriote enquiries. the Trustees hove o reosonoble expectotion thot the compony hos odequote resources to continue in operotionol existence for the foreseeable future. For this reoson. they continue to odopt the going concern basis in preporing the finonciol statements. Further detoils regording the odopiion of the going concern basis con be found in the occounting policies. b. Reserves pollcy Unrestricted general reserves a5 at 31 March 2024 are £43.402 (2023 - £45.928).This was a planned use of our reserves in the year. which saw us maintaining unrestricted generol funds at the same level. whilst adding to the designated funds os noted In the next sentence. Designoted reserves ot 31 Morch 2024 were £34,000 (2023 £24.000). on increose of £I0.000 which wos odded to fund Investment In creotive progromming in coming yeors The Trust's policy Is to hold 3 to 6 months overheod costs as a reserves figure, which we aim to achieve during ihe next finonciol yeor. Restricted reserves include Leosehold Improvement5 following the redeveloprnent of the Daimler Powerhouse which is being depreciated across the 20 year life of the building lease. Page 4
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Trustees, Report (contlnued) For the Year Ended 31 March 2024 c. Heritage asset After much discusslon over severol yeors. the Board has declded (wlth the input of its Executlve and followlng externol professionol advice) to chonge how the Heritage Asset (Lody Godiva) is treuted in GAT'S Bulance Sheet. The Heritoge Asset consists ol the Godiva Puppet. the puppetry ond cyclopaedia rig5 and the wagon that the puppet travels on. In accordance with Charity Commission guidance and standard accountancy practice for "heritoge assets" Lady Godiva hos continued to appeor on our Bolonce Sheet ot its original (ond not discounted or deprecioted} volue. o cost of £645.000. Whilst Lady Godlvo will contlnue to be held and Imogineer Produciions will seek to find opportunities for It io perform and work (0$ It did so powerfully as o speclllcolly-lnvited contributor to the Platinum Jubilee Pogeant in 20221. the GAT Boord believes this is now an appropriate time to recognise the "possooe of tlme" since Godlvo wos first created ond valued lat cost) and the impairrnent in its (real) value since then. We hove therefore removed it os o specific Heritoge Asset from our Bolonce Sheet ond hove mode a corresponding omendment to the relevont Restricted Fund (see notes 13 & 16). d. Financial risk management objectives and policies The Trustees hove ossessed the major risks to which the company Is e%posed. In poriicular those related io the operotions ond finonces of the company. A detailed risk register is held for the Trust and actively reviewed / updoted ot quarterly Boord meetinos. Papers orè also tabled at each Board meeting showing funding secured by project and by financial year. to enable the Trustees to Oversee the financial stability ol the Trust. Fundraising updates ore reported each quarter to the Trustees. All projects undertaken include detailed risk assessments. which are held on file. The Trustees ore 5Qtisfied thot these systems ond procedures ore In ploce to mitigote our exposure to the moior risks. Plorbs for future periods Following the plonned tronsition from originol founding executives to o new senior executive leodership. plons for 2024- 25 hove remoined modesi ond the orgonisotion is rnostly focused on delivering and delivering a new vision lor Imagineer os it moves forward on its creotive 'iourney" Projects will include the continuation of some ospects of Imagine Bamboo and Teach-moke. as well os supportino thè further development ol NoFit Stote's new production. The organisation will be developing a new staffing structure and hopefully delivering more work in the city. Further informotion con be found on our website www Imogineer-productions.co.uk Pooe 5
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Trustees, Report (contlnued) For the Year Ended 31 March 2024 Statement of Trustees, responsibilities The Trustees (who are also the dlrectors of the cornpany for ihe purposes of compony law) ore responsible for preporino the Trustees, Report and the linonciol statements in accordonce with upplicable law ond United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial stotements for each financial Un(Jer company low. the Trustees must not approve the finonciol stotements unless they are sotisfied thot they give o true ond foir view of the stote of offoirs of the compony ond of its incoming resources ond opplicotion of resources. Including Its Income ond expendiiure. for thot period. In preporing these finonciol stotements. the Trustees ore required to.. select suitable accounting policies and then apply them consistently.. observe the methods ond principles of the Charities SQRP (FRS 102).. moke judgments ond (Jccounting estimotes thot ore reosonoble ond prudent.. stote whether opplicoble UK Accounting Stondords (FRS 102) hove been followed. subject to ony moteriol deportures disclosed ond explained in the financial stoiemenis., prepore the finonciol stotements on the going concern basis unless il is inappropriate to presume that the company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position Of the company and enoble them to ensure thot the finonciol stotements comply with the Componies Act 2006. They ore olso responsible for sofeguording the ossets of the compony ond hence for toking reosonoble steps for the prevention ond detection of froud ond other Irre9ulorities. Oisclosure of information to auditors Eoch of the persons who are Trusiees at the time when this Trustees, Report is approved has confirmed ihat". so far as that Trustee is aware. there is no relevant audit information of which the charity's auditors are unaware. ond thot Trustee hos token oll the steps thot ought to hove been token os o Trustee In order to be owore of ony relevant oudit Informotion ond to estoblish thot the chority's ouditors ore owore of thot information. Avditors The auditors. Dains Audit Limited. hove indicated their willingness to continue in office. The designoted Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board ol Trustees and signed on their behalf by.. John McGuigan lJ3n 28. 2 5 20..44 GMT) Mr J McGvigan Choir of Trustees Date.. 14 Jonuary 2025 Page 6
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Independent Auditors, Report to the Members of The Godivg Awakes Trust Opinion We hove oudited the financiol stotements ol The Godiva Awokes Trust (the'charitable company,) lor the yeor ended 31 Morch 2024 which comprise the Stotement of Finonciol Activities, the Bolonce Sheet. the Stotement of Cosh Flows ond the reloted notes. including o summory of significont occounting policies The finonciol reporting fromework thot hos been opplied in their preparoiion is applicoble low and United Kingdom Accounting Stondords. including Finonciol Reporiing Stondord 102 'The Financiol Reporting Standard applicable in the UK and Republlc of Irelond, (United Klngdom Generally Accepted Accountino Proctice). In our opinion the financial statement5'. give o true and lair view ol the stote of the choritoble compony's affairs os ot 31 Morch 2024 and of Its Incoming resources ond oppllcoiion of resources. Includlng Its Income ond e%penditure for the yeor then ended", hove been properly prepared in accordonce with United Kinodom Generolly Accepted Accounting Practlce. ond have been prepared in accordance with the requirements ol the Companie5 Act 2006. easis for opinion We conducted our oudit in occordonce with Internotionol Stondord5 Qn Auditing (UK) (ISAS (UK)) ond opplicoble low. Our responsibilities under those stondords ore further described In the Auditors, responsibilities for the oudit of the finonciol stotements section of our report We ore independent of the choritoble compony in occordonce with the ethical requiremenis thoi are relevont io our oudit ol the finoncial stotements In the United Kingdom. Including the Financiol Reporting Council's Ethical Siandard. ond we have fulfilled our other ethical responsibililles in occordance with these requirements. We believe thot the oudit evidence we hove obtoined is sufficient ond appropriate to provide a basi5 for our opinion. Conclusions rèloting to going concern In ouditing the finoncial stotements. we hove concluded that the Tru5tees' use ol the going concern bosis ol occounting in the preporotion of the finonciol stotements Is oppropriote Bosed on the work we hove performed. we hove not identified ony moteriol uncertointies reloting to events or conditions that, Individuolly or collectively. moy cost significant doubt on the choriioble compony's abilily to coniinue os a going concern for a perlod of oi least iwelve monihs from when the financial stotements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern ore described in the relevont sections of this report. Page 7
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Independent Auditors, Report to the Members of The Godiva Awakes Trvst (continued) Othèr information The other informotion comprises the information included in the Annual Report other thon the linonciol statements ond our Auditors, Report thereon. The Trustees ore responsible for the other informotion contoined within the Annuol Report. Our opinion on the finonciol stotements does not cover the other Informotion ond. except to the extent otherwise expliciily stoied in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to reod Ihe other Inforrnoiion and. In doing so. conslder whether the other information is moierlally inconsistent wlth the finonclol stotements or our knowledge obtoined in the course of the oudit. or otherwise oppears to be moterially mi55tated. If we identify such rnaterial incon515tencie5 or apparent moterial mi55tatement5. we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. 11. based on the work we have performed. we conclude that there is o moteriol mis5totement ol this other informotion. we are required to report thot foct. We hove nothing to report in this regord. Opinion on other matters prescribed by the Companies Act 2006 In our oplnion, based on the work undertoken In the course of the oudlt.. the informotion given In the Trustees, Report for the finonciol yeor for which the finonciol stotements ore prepored Is consistent with the finonciol stotements. the Trustees, Report has been prepored In occordance with opplicoble legal requirements. Matters on which we are required to report by exception In the light of our knowledge and understanding of the charitable cornpany ond its environment obtoined in the course of the audit. we have not identified rnateriol mi5Statements in the Trustees, Report. We have nothing to report in respect ol the following motters in relation to which Companies Act 2006 requires us to report to you il. in our opinion.. adequote occountino records have not been kept. or returns adequate for our audit hove not been received from branches not visited by u5". or the financial statements are not in agreement with the accounting records and returns.. or certain disclosures of Trustees, remuneration specified by low ore not made.. or we hove not received oll the informotion ond explonotions we require for our oudit. or the Trustees were not entitled to prepore the finonciol stotements In occordonce with the smoll componies regime ond toke advantoge of the smoll companies, exemptions In preporlng the Trustees, Report and from the requirement to prepare a Strotegic Report. Page 8
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Independent Auditors, Report to the Members of The Godiva Awakes Trvst (continued) Responsibilities of trustees As explained more lully in the Trustees, Responsibilities Stotement. the Trustees (who are also the directors of the choritoble compony for the purposes of compony lowl ore responsible for the preporotion of the finonciol stotements ond for being sotisfied thot they give o true ond foir view, ond for such Internol control os the Trustees determine is necessary to enoble the preporation of finoncial statements that ore free from materiol missiatement. whether due to froud or error. In preparing the flnonclol stotements. the Trustees are responsible lor assessing the chorltoble company's abllity to continue as cl going concern. disclosing. a5 applicable. matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the choritoble company Dr to cease operations. or hove no reolistic alternative but to do so. Auditor5, respon5ibilitie5 for the gudit of the finonciol statements Our objectives ore to obtoin reosonoble ossuronce obout whether the finonciol stotements os o whole ore free from materiol misstatement. whether due to froud or error, ond to issue on Auditors, Report that includes our opinion. Reasonable assurance is o high level of ossuronce. but is noi o guorantee thoi on oudit conducted In occordance with ISAS (UK) will alwoys detect o moterial misstatement when it exists. Misstatements con arise from Iroud or error and are considered material if. individually or in the aggregate. they could reasonably be expected to influence the economic decision5 of users taken Dn the basis of these financial staternents. Irreguloritie5. including froud. are instonces of non-complionce with lows and regulotions. We design procedures in line with our responsibilities. outlined obove. to detect moteriol misstotements in respect of Irregulorities. including froud The extent to which our procedures ore copoble of detecting irregulorities. including froud Is detoiled below.. Our approach to identifying and assessing the risks of material misstatement In respect of Irregularitles, Including froud and non-compliance with lows and regulotions, was as follows.. the senior statutory auditor ensured that the engagement team collectively had the appropriate competence. capabilitie5 Ond skills to identify Dr recognise non-complionce with opplicoble lows and regulations.. we Identified the lows ond regulotions opplicoble to the compony through discussions with directors ond other monogement. ond from our commerciol knowledge ond experience of the Chorities sector.. we focused on specific laws ond regulotions which we considered moy hove a direct materiol effect on the linoncial stotements or ihe operations of ihe compony. including the financial reportlng legislation, Companies Act 2006. taxation legislation. anti-bribery. employment. ond environmentol ond health ond safety legislation. we a55essed the extent of compliance with the law5 and regulation5 identified above through making enquiries ol manogement and inspecting legal correspondence.. and identified lows ond regulotions were communicated within the oudit teom regulorly gnd the teom remoined alert to instonce5 of non-complionce throughout the oudit Poge 9
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Independent Auditors, Report to the Members of The Godiva Awakes Trvst (continued) We assessed the susceptibility of the company's financial staternents to material misstatement. including obtaining an understonding of how froud might occur. by.. moking enquiries of monogement os to where they considered there wos susceptibility to froud. their knowledge of actuol. suspected ond alleged Iroud.. and considerlng the Internol controls in place to millgate risks ol fraud ond non-cornpliance wlth laws and regulotlons. To address the risk of fraud through management bias and override ol controls. we". performed onalyticol procedures to identify orby unusuol or unexpected relotionships.. tested iournol entries to identify unusuol tronsoctions.. ossessed whether judgements ond ossumptions mode In determining the occounting estimotes set out in Note 3 were Indicotive of potentiol bios.. ond investiooted the rationale behlnd significont or unusual tronsactions. In response to the risk of irregularities and non-compliance with laws and regulations. we designed procedures which included. but were not limited to." ogreeing finonciol stotement disclosures to underlying supporting documentotion.. reoding the minutes of meetings of those chorged with governonce.. enquiring of monagemenl os 10 actuol ond potential litigation ond claims.. ond reviewing correspondence wlth HMRC, relevant regulators ond the compony s legol odvlsors. Because of the inherent limitotions of an audit. there is a risk thot we will not detect all irregularities. including those leading to a material misstotement in the financial 5tatement5 or non-compliance with regulation. Thi5 risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial stotements. os we will be less likely to become oware of instonces of non-compliance. The risk is also greoter regording irregulorities occurring due to froud rother thon error. os fraud Involves intentionol conceolment. forgery. collusion. omission or misrepresentotion. A further description of our responsibilities lor the oudit of the financial stotements is locoted on the Finonciol Reporiing Councll's websiie at." www.frc.or ouditorsres onslbililles. This descrlpiion forms part ol our Audltors, Report. Page 10
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Independent Auditors, Report to the Members of The Godiva Awakes Trvst (continued) Use of our report This report is mode solely to the choritoble compony's members. os a body. in accordance with Chapter 3 of Part 16 of the Componies Act 2006 Our oudit work hos been undertoken so thot we might stote to the choritoble compony's members those motiers we ore required to stote to them In on Auditors, Report ond for no other purpose To the fullest exieni permitted by law. we do not occept or ossume responsibility to onyone other than the choritoble company ond its members. os o body. lor our audlt work. lor this report. or for the oplnions we have formed. Andrew Morrls FCA (Stnlor Statutory Audltor) for and on beholl of Oains Avdit Limited Stotutory Auditor Chortered Accountonts Birmingham 14 Januory 2025 Pooe 11
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Stotement of fingnciol o¢tivities {in¢orporating income ond expenditure gccount) For the Year Ended 31 March 2024 Unrestrictèd funds 2024 Restrictèd funds 2024 Total funds 2024 Total funds 2023 Note Income from.. Donotions ond legocies Charltable actlvitles 500 500 36.447 466.696 578.575 1.045.271 682.665 Other troding octivities 87.864 87.864 73.876 Total Income 554.560 579.075 1.133.635 792.988 Expènditure on-. Choritoble octivities 545,086 394,128 939,214 1.099.434 Other expenditure 645.000 645.000 Total expenditure 545.086 1.039.128 1.584.214 1.099.434 Net movement in funds 9.474 (460.053) (450.579) (306.446) Re¢¢n¢ili¢Jti¢n of funds.. Total funds brought forward Net movement in funds 16 67.928 2.538.063 2.605.991 2.912 437 9.474 (460.053) {450.579) (306.446) Total funds carrled forward 16 77.402 2.078.010 2.155.412 2.605.991 The notes on poges 15 to 35 form port of these finoncial stotements. Pooe 12
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Règistèrèd numbèr= 07409629 Balance Sheet As gt 31 March 2024 2024 2023 Note Fixed assets Tongible ossets Heriioge ossets 12 1.775.354 1.884.038 13 645,000 1.775.354 2.529.038 Current asset5 Debtors 14 193.250 106.546 Cosh ot bonk ond in hond 274.680 77.404 467.910 183.950 Creditors.. omounts folling due within one year 15 (87.852) (106.997) Nèt current ossèts 380.058 76.953 Total net 05sets 2.155,412 2.605.991 Chgrity fund$ Restricied funds 16 2.078.010 2.538.065 Unrestricted funds 16 77.402 67.928 Total funds 2,155,412 2.605.991 The Trustees acknowledge their responsibilitie5 lor complying with the requirement5 of the Act with respect to accounting records and preparation of financial statements. The finonciol stotements hove been prepored In occordonce with the provisions opplicoble to entities subject to the smoll componies regime. The finonciol stotements were opproved ond outhorised for issue by the Trustees ond signed on their beholf by.. Mr J McGuigan Chair of Trusteès Date.. 14 January 2025 The notes on poges 15 to 35 form port of these finonciol stotements. Page 13
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Stotement of Cosh Flows For the Year Ended 31 March 2024 2024 2023 N¢te Cash flows from operating activities Net cosh used in operating octivities 19 202.498 {171.46n Cash flows from Investlng octivltles Purchase of tangible Ii%ed assets (5.222) 15.374) Nèt cosh used in investing activities {5.222) (5.374) Change in cosh and cash equivalents in the year 197.276 076.841) Cosh ond cosh equivolents ot the beginning of the yeor 77.404 254.245 Cash and cash eqvlvalents at the end of the year 20 274.680 77,404 The notes on poges 15 to 35 form port of these finonci(Jl stotements Page 14
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 Genèrol information The Govido Awoke5 Trust is o charitoble company incorporated in Englond ond Woles and registered with the Chority Commission. The oddress of the registered office Is given In the reference ond odministrotive detoils section of these finonciol stotements. The noture of the Chority's operotions ond principol octivities are detoiled In the Trustees Report. Accovnting policies 2.1 805is of preparation of financial statements The finonciol statements have been prepared In occordance with the Chorities SORP (FRS 102) Accounting ond Reportlng by Charitles". Stotement of Recommended Practice applicable to charitles preparlng thelr tsccounts in accordonce with thè Finoncial Reporting Standord applicoble in the UK ond Republic of Irelond IFRS 102) (effective l Janucjry 2019), the Financial Reporting Stondard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Godivo Awokes Trust meets the definition of o public benefit entity under FRS 102. Assets ond liobilities ore initiolly recognised ot historicol cost or tronsoction volue unless otherwise stoted in the relevont occounting policy. 2.2 Income All income is recognised once the company hos entitlement to the income. it is proboble thot the Income will be received ond the omount of income receivoble can be measured reliobly. The recognition ol income from legocie5 15 dependent on establishing entitlement. the probobility ol receipt ond the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legocy exists when the compony hos sufficient evidence thot o gift has been left to them (through knowledge of the existence of o volid will ond the deoth of the benefoctor) ond the executor is sotisfied thot the property In question will not be required to sotisfy cloims In the estote Receipt of o legocy must be recognised when it is probable thot it will be received and ihe lair volue of the arnount receivable, which will generolly be the expected cosh amount to be distributed to the company, con be reliably meosured. Grants orè included in the Stotement ol Financial Activities on o receivable basis. The bolonce of income received for specific purposes but not expended during the period is shown in the relevant funds on the Bolance Sheet. Where income is received in odvance of entitlement ol receipt. its recognition is deferred ond Included In creditors os deferred Income Where entitlement occurs before Income Is received. the Income Is occrued. Gifts In kind donoted for distribution ore included ot voluoiion ond recognised os income when they ore dislribuied to the projects. Gifts donated for resale are included as Income when they are sold. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenont is recognised ot the time of the donation. Page 15
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 Aceovnting policies (continuèd) 2.5 Expènditurè Expenditure is recognised once there is o legol or constructive obligotion to tronsfer economic benefit to o third porty. It Is proboble thot o tronsfer of economic benefits will be required in settlement ond the omount of the obligotion con be meosured reliobly. Expenditure Is classified by activity. The costs ol eoch ociivity ore made up of the iotol ol direci costs ond shored costs, including support cosis Involved in undertoking each activity. Direct costs attrlbutable to a slngle actlvity ore allocated dlrettly to thot attivity. Shored costs which contribute to more than one activity and support cost5 which cjre not attributable to cl single cjctivity ore apportioned between those activities on a basis consistent with the use of resources. Central staff costs ore ollocated on the bosis ol time spent. ond depreciotion chorges ollocated on the portion of the asset's use. Expenditure on choritoble octivities is incurred on directly undertoking the octivities which further the compony's objectives, as well os ony associoted support costs. 2.4 Tangible fixed assets and depreciation Tonoible fixed assets costing £250 or more are copitalised and recoonised when future economic benefits c)re probable and the cost or value ol the asset can be measured reliably. Tangible fixed assets are initially recognised ot cost. After recognition. under the cost model. tangible fixed OS5ets are meosured ot cost less occumuloted depreciation ond any occumuloted impoirment losses. All costs Incurred to bring o tongible fixed osset into Its intended working condition should be included in the meosurement of cost. At each reporting date the company assesses whether there is ony indication of impoirment. If such Indlcotion exlsts. the recoveroble omount of the osset Is determined to be the hlgher ol its fair value less costs to sell and its value in use. An impairment loss is recognised where the corryino amount exceeds the recoverable amount. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimoted useful lives. using the stroight-line method. Depreciotion Is provided on the following boses. Leosehold Improvements Office eouipment 50/. 10% stroight line 20% stroight line Depreciation on leasehold Improvements - Dolmler Powerhouse depreciation is charged from the point of completion of the construttion project. which for depreciotion purposes was l April 2021 over the period of the 20 year lease on o straight line bosis. Goins ond losses on disposols ore determined by comporing the proceeds with the corrying omount gnd ore recognised in the Stotement of Finonciol Activities. Page 16
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 Aceovnting policies (continuèd) 2.5 Hèritagè assets The chority holds heritoge ossets reloting to The Godivo Awokes Project. The ossets. ocquired by In kind donotion. hove been recognised ot voluotion bosed on costs of construction ond creotion The Godivo Awakes Project Is deemed to have on Indefinite life ond the Trustees do not therefore consider it appropriate to chorge depreciation. The Trustees carry out an onnual review of The Godivo Awakes Project to assess ony evldence of impolrment. Alter much discussion over several years. the Boord has decided (with the input ol its Executive and following externol professional advice) to chonge how the Heritoge Asset (Lody Godivo) is treated in GAT'S Bolonce Sheet. The Heritoge Asset consists of the Godivo Puppet. the puppetry ond cyclopoedio rigs ond the wogon thot the puppet trovels on. In occordonce with Chority Commission guidonce ond stondord occountoncy prociice for -heritoge ogsets" Lady Godiva hos continued to appear on our Bolance Sheet ot Its orioinal land not discounted or deprecloiedl volue. o cosi of £645,000. Whilst Lady Godiva will continue to be held and Imagineer Production5 will seek to lind opportunitie5 for it to perform and work las it did so powerfully as a specifically-invited contributor to the Platinum Jubilee Pogeont in 2022). the GAT Boord believes this is now on appropriote time to recognise the "passoge of time- since Godivo wos first creoted ond volued lot cost) ond the impoirment In Its (reol) volue since then We have therefore removed it os o specific Heritoge Asset from our Balance Sheet and hove mode a corresponding amendment to the relevont Restricted Fund (see notes 13 & 16). 2.6 Debtors Trade and other debtor5 are recognised at the settlement amount after any trade discount offered. Prepayments are valued ot the amount prepaid net of any trade discounts due. 2.7 Cash at bonk and in hand Cosh ot bonk ond In hond Includes cosh ond short-term highly liquid Investments with o short moturity of three months or less from the dote of ocquisition or opening of the deposit or similor occount. Poge 17
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 Aceovnting policies (continuèd) 2.8 Liabilitiès und provisions Liobilities ore recognised when there Is on obligotion ot the Bolonce Sheet dote os o result of o post event. it Is proboble thot o tronsfer of economic benefit will be required In settlement. ond the omount of the settlement con be estimated reliobly. Liabilitles ore recoonised oi the amount thot ihe company ontlclpates li wlll pay to settle the debt or the omount it has received os odvonced payments for the ooods or services It must provide. Provisions are measured cjt the best estirnate ol the amounts required to settle the obligation. Where the effect ol the time value Of money is material. the provision is based on the present value of those amounts. discounted at the pre-tox discount rote thot reflects the risks specific to the liobility. The unwinding of the discount Is recognised in the Stotement of Finonciol Activities os o finonce cost. 2.9 Financial instruments The company only hos financiol ossets ond finonciol Iiobilities ol o kind thot quolify os bosic finonciol Insirumenis. Basic finonclol Instruments ore Inillolly recognised at iransaction value and subsequently meosured ot their settlement value with the exception ol bonk loons which ore subsequently meosured ot cjmortised cost using the effective interest method. 2.10 Operating leasès Rentols paid under operoting le05e5 ore chorged to the Stotement of Financiol Activities on o stroight-line bosis over the leose term. 2.11 Pensions The company operotes o defined contribution pension scheme ond the pension chorge represents the omounis payoble by the compony io the fund in respect of the year. 2.12 Fund occovnting General funds ore unrestricted funds which are available for usè at the discretion ol the Trustees in furtherance of the general objectives of the company and which have not been designated lor other purposes. Designoted funds comprise unrestricted funds thot hove been set oside by the Trustees for porticulor purposes. The oim ond use of eoch designoted fund Is set out In the notes to the finonciol stotements Restricted funds ore funds which ore to be used in occordance with specific resiriclions imposed by donors or which have been roised by the company lor particulor purposes. The cosis of rolsino ond odministering such funds ore chorged ogoinst the specific fund. The oim ond use of each restricted fund is set out in the notes to the financiol statements. Page 18
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 Income from donotions ond legocies Unrestricted funds 2024 Restricted funds 2024 Totol funds 2024 Donotions 500 500 Unrestricted funds 2023 Restricted funds 2023 Total funds 2023 Donotions 1.000 56.447 Pooe 19
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 Income from charitoble activities Unrestricted funds 2024 Restricted funds 2024 Totol funds 2024 Gronts received 466.696 578.575 1,045.271 Unrestricted funds 2023 Restricted funds 2023 Totol funds 2023 Grants received 181.240 501.425 682.665 Income from other trading octivitiès Unrestricted fund5 2024 Totol funds 2024 Events. rent ond other income 87.864 87.864 Unresirlcted funds 2023 Totol funds 2025 Events, rent ond other Income 75,876 73.876 Page 20
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 Anolysis of expenditure on ¢horit¢Jble ortivities Summary by fund type Unrestricted funds 2024 Restricted funds 2024 Total 2024 Choritoble octivities 545,086 394 128 939,214 Unrestricted funds 2023 Restricted funds 2023 Totol 2023 Choritoble octivities 380.276 719.158 1.099.434 Summary by expèndltvre type Stoff ¢o$t$ Depr¢¢iotion 2024 2024 Other ¢¢sts 2024 Total 2024 Charitable activitie5 162.071 115.727 665.416 939.214 Stoff costs Depreciotion 2023 Other costs Total 2023 2025 2023 Charitable activities 125.950 112,668 860.816 1.099.434 Pooe 21
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 Analysis of expenditure by octivities Activities undertaken directly 2024 Svpport costs Total funds 2024 2024 Choritoble octivities 376,930 562,284 939,214 Activities undertaken directly Support costs 2025 2023 Totol funds 2025 Choritoble octivities 650.208 449.226 1.099.434 Analysis of direct ¢osts Totol funds 2024 Totol funds 2023 Project costs 376.930 650.208 Poge 22
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 Analysis of expènditure by activitiès (continued) Analysis of support ¢o$t$ Totol funds 2024 Totol funds 2023 Stoff costs 162.071 125.950 Depreclotion Off ice costs 115.727 112.668 62.680 53.090 Finonciol monogement Freelonce support stoff Rent 47,500 47.500 95.867 40.122 32.6¢)0 32.600 Premises costs 24.583 19.236 Accountancy fees Other support fees Advertislng Bad debt provision Bonk chorges Governance costs 9.935 1.753 8.574 7.128 3.615 1.045 (200) 1B3 224 1.149 7.910 562.284 449.226 Other expenditure Restricted funds 2024 Total funds 2024 Totol funds 2025 Heritoge osset impoirment chorge (see note 13) 645,000 645,000 Poge 23
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 Auditors, remuneration 2024 2023 Fees payoble to the compony's ouditor for the oudit of the componu's onnuol occounts 7.700 7.150 Fee5 payable to the company's auditor in respect ol". All toxotion odvisory services not included obove 3,975 1.590 10. Staff costs 2024 2023 Wages and salaries Sociol security costs Contribution to defined contribution pension schemes 150.679 119.818 8,008 4.265 3.384 1.867 162.071 125.950 The averoge number of persons employèd by the company during the yeor was as follows". 2024 No. 2023 No. Employees No employee received remunerotion omounting to more thon £60.000 in either yeor. Trustees, remvneration ond expenses During the yeor. no Trustees received ony remunerotion or other benefits (2025- £NILI During the year ended 31 Morch 2024. no Trustee expenses hove been Incurred (2023 - £NIL). Page 24
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 12. Tangiblè fixed assets Long-term leasehold Offlce equlpment property Total Cost or valuatlon At 1 April 2023 2.066.021 52.679 2.118.700 Addiiions 5.222 5.222 Disposals (1.494) (1.494) At 31 Morch 2024 2.066.021 56.407 2,122.428 Depreclotlon At 1 April 2023 Chorge for the year On disposals 206.826 27.836 234.662 103.439 10.288 113.727 (1.315) (1.315) At 51 Morch 2024 310,265 36.B09 347,074 Net book value At 31 Morch 2024 1.755.756 19.598 1.775.554 At 31 Morch 2023 1.859.195 1.884.03E Page 25
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 15. Heritage ossets Godivo Pvppet 2024 Corrying volue ot 1 April 2023 Impoirments 645.000 (645.000) Cgrrying value at 31 March 2024 After much discussion over several years. the Board has decided (with the input of its Executive and following externol professionol odvice) to chonge how the Heritoge Asset (Lody Godivo) is treoted in GAT'S Bolonce Sheet. The Heritoge Asset consists of the Godivo Puppet. the puppetry ond cyclopoedio rigs ond the wogon thot the puppet trovels on. In occordonce with Chority Commission guidonce ond stondord occountoncy proctice for 'heritoge assets. Lody Godlvo hos contlnued io appear on our Balance Sheet ot its original (and not discounted or deprecioted) volue. CJ cost of £645.000. Whilst Lady Godivo will continue to be held and Imagineer Productions will seek to find opportunities for it to perform and work (as it did so powerfully as a specilically-invited contributor to the Platinum Jubilee Pageant in 2022). the GAT Boord believes this Is now on oppropriote time to recognise the "pos5oge of time" since Godiva wos first creoted ond volued lot cost) ond the Impoirment In its (reol) volue since then We hove therefore removed It as o speclflc Heriiage Asset from our Bolonce Sheet and hove made o corresponding omendment to the relevant Restricted Fund (see note 16). 14. Debtors 2024 2023 Trode debtors 178,730 2.950 Other debtors 1.468 2.25B Prepoyments ond occrued Income 13.032 101.338 193.230 106.546 Page 26
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 15. Crèditors= Amounts falling duè within onè yeur 2024 2023 Trode creditors 37.007 28.890 Other taxation ond soclol security Other creditors 29.191 6.310 940 435 Accruols ond deferred income 20.714 71.362 87.852 106.997 2024 2023 Deferred income at l April 2023 Resources deferred during the yeor Amounts released from previous periods 32.000 14.748 32,000 (32.000) (14.748) 32.000 Pooe 27
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 16. Statement of funds Stotemènt of funds- ¢vrrent year Balance gt 1 April 2023 Tronsfer5 Bolonce ot 31 in/{out) Mgrch 2024 Income Expenditure Unrestrictèd funds Designated funds Creotive Producer / Projects seed fund 24.000 24.000 Future Artistic Programme 10.000 10.000 24.000 10.000 34.000 Genèral funds General Funds 45.928 554.560 (545.086) 00.000) 43.402 Total Unrestrlcted funds 67.928 554.$60 (545.086) 77.402 Rèstricted funds Heriioge Flxed Asset Fund Leasehold lrnprovements & Equipment 645.000 (645.000) 1.870.810 (107.011) 1.763.799 Paul Homlyn Foundation - Teoch Moke ACE Pause & Plan grant Creotive Explorers - NBBC Creative Explorers - Poul Hamlyn Transformations - Reoching Communities 14.458 04.458) 7.795 (7.795) 435,575 (213,869) 221,706 60.000 (14.358) 45.642 83.5¢)0 (36.637) 46.863 2.538.063 579.075 {1.039.128} 2.078.010 Totol of funds 2,605,991 1.133,635 (1,584,214) 2,155,412 Page 28
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 16. Statement of funds (continued) Paul Hamlyn Foundation - Teach Make The Trust wos oworded o gront from the Poul Homlyn Foundotion of £150.000 over 2 yeors in April 2020. This gront is port of the Foundotion's Teocher Development Fund ond Is to support Teoch-moke to support teochers ond school leoders to develop necessary skills. knowledge. confidence ond e%perience to deliver effective arts- based leaching In primary schools. Restricied funds brouoht forwords were £14,458 with all funds lully speni by 31 March 2024. Transformotions European Social Funds Your Vision Your Future were received to continue delivery of our skills development ond troining for young people not in educotion. troining or employment. This funding is received In orreors ond so no restricted funds were held ot 31 Norch 2024 ACE Pause & Plan Gront funding was received from Arts Council Englond and Coventry City of Culture to ollow the organisotion to have a period ol reflection. evaluation and prepcjration ahead ol becorning an Art5 Council England National Portfolio Organisation in April 2023. Restricted funds brought forwards were £7.795 with all funds fully spent by 31 March 2024. Creotive Explorer5 Funding wos secured from Nuneoton & Bedworth Borough Council to deliver a 21 month project to create a unique culturol identity lor Nuneaton & Bedworth. Funding recelved In the financial year totalled £435.575 with o balonce of £221.706 corried forword ot 31 Morch 2024. Part of the Creative Explorers programme wos to work in primary schools in Nuneaton & Bedworth and deliver our Teoch Moke model. Funds were awarded from the Poul Homlyn Foundgtion totolling £60.000 for this work. with o bolonce of £45.642 corried forword ot 31 Morch 2024 A gront wos olso oworded io Artichoke from the 29th Moy 1961 Choritoble Trust with £25,000 ollocoied to our element of this projeci. in particulor to support the olm of increasing employrnent opporiunlties, creoiing jobs and access to further educotion and troining. These funds were fully spent in the financial yeor. Transformations- Rèaching Communities The Trust wos oworded funding from the National Lottery Community funds from their RC Midlands Region progromme totolling £441.000 over 3 yeors commencing Jon 2024. to develop our Tronsformotions work ocross Coventry. Nuneoton & Bedworth through our Imogine. Create. Inspire process. holisticolly supporting young peoples personal ond coreer development. Funds of £83.500 were received In the finoncial year. with a balance of £46.863 carried forward at 31 March 2024. Deslgnated funds Creative Producer Pro ects seed fund The de5ignoted fund held of £24k for Creotive Producer / Project seed funding held ot 31 Morch 2025 wos mointoined In the finonciol yeor os we sow o tronsition in our senior leodership teom. Future Artistic Pro A designated fund of EIO.000 was created in the financial year to support the development ond delivery of future Jrtistic prooramming as we tronsition to o new artistic leodership. ramme Poge 29
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 16. Statement of funds (continued) Statement of funds - prior yeor Bolonce ot 31 Morch 2023 Bolonce ot l April 2022 Transfers In/out Income Expendlture Unrestricted funds Designated funds Creoiive Producer / Projects seed fund Daimler Core Costs fund 55.000 (51.000) 24,000 49.060 {49.060) The Plotinum Jubilee Pogeont 13.572 100.000 (113.572) 117.432 100.000 (144.372) {49.060) 24.000 General funds Generol Funds 74.656 156.116 (235.904) 49.060 43.928 Total Unrestricted funds 192.088 256.116 (380.276) 67.928 Poge 30
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 16. Statement of funds (continued) Balonce at 31 Morch 2023 Bolonce ot 1 April 2022 Tronsfers In/out Income Expenditure Rèstrictèd funds Herltage Fixed Asset Fund Leasehold Improvements & Equipment Coventry City Council - FLOW Poul Hamlyn Foundotion Teach Make Arts Council Englond Bridge2Bomboo Arts Council England FLOW ESF - Transformations FLOW 645.000 645.000 1.977.821 {107.011) 1.870.810 14.666 {14.666) 64.+14 (49.986) 98.000 {98.000) 55.084 35 000 (68.0841 47.274 (47.274) ESF Tronsformotions (post-FLOW) 73.609 (73.609) Dundu Light Festival ACE Pause & Plan grant Other restricted income B.821 (8.821) {57.205) 65.000 7.795 194.502 (194.502) 2.720.349 536.872 {719.158) 2.538.063 Total of funds 2.912 457 792.98B (1.099.434) 2,605.991 Page 31
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 17. Summary of funds Summary of funds - Current year Balance gt 1 April 2023 Tronsfer5 Bolonce ot 31 in/out Mgrch 2024 Income Expenditure Designated funds General funds 24.000 10.000 54.000 43.928 554.560 (545.086) 00.000) 43.402 Restricted funds 2.538.063 579.075 0.039.128} 2.07B.010 2.605.991 1.135.635 (1.584.214) 2.155.412 Summary of funds - prior yèar Bolonce ot 31 Morch 2023 Bolonce ot 1 April 2022 Tronsfers in/out Income Expenditure Designoted funds General funds 117.432 100.000 (144.372) (49.060) 24.000 156.116 1255.904) {719.158) 49,060 45.928 Restricted funds 2.720.349 556.872 2.538.063 2.912 457 792.9E8 (1.099 434) 2.605.991 Page 32
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 18. Analysis of net ossets between funds Analysis Of net QS5et5 between funds- current period Unrestricted funds 2024 Restricted funds 2024 Totol funds 2024 Tangible fixed assets Current ossets 1.775.354 1.775.354 165.254 302.656 467.910 Credltors due within one yeor (87.852) (87.852) Total 77.402 2.078.010 2.155,412 Analysls of net ossets bètween funds - prior perlod Unrestricted Restricted funds 2023 Total funds 2023 funds 2023 Tanglble fl%ed osseis Heritage assets 13,228 1.870,810 1,884.038 645.000 645.000 Current ossets 129.697 54.253 183.950 Creditors due within one yeor (74 994 (32.000) 1106.994 Total 67.928 2.538 063 2.605.991 Page 53
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 19. Reconciliotion of net movement in funds to net Cg5h flow from operoting octivities 2024 2023 Net expenditure for the period los per Stotement of Finonciol Activities) (450.579) (306.446) Adjustments for-. Depreciotion chorges Impoirment chorges Loss on the sole of fixed ossets 113.727 112.668 645.000 (Increose)/decreose In debtors Decrease in creditor5 (86.684) 43,747 {19.146) (21.436) Net Cg5h provided by/(used in) operoting gctivitie5 202,498 {171.467) 20. Analysis of cosh and cash èquivalènts 2024 2023 Cash in hand 274.680 77.404 Total cash and cash equivalents 274,680 77.404 21. Analysis of ¢hong¢s in net debt At 1 April 2023 At 31 March Cash flows 2024 Cash oi bank and in hand 77.404 197.276 274.680 Poge 34
The Godiva Awakes Trvst (A Company Limited by Gvoranteè) Notes to the Financial Stgtements For the Year Ended 31 March 2024 22. Pènsion commitments The company operates o defined contribution pension scheme. The assets of the scheme are held seporotely from those of the compony in on independently odministered fund. The pension cost chorge represents contributions poyoble by the compony to the fund ond omounted to £3.38412023 - £1.867) At the bolonce sheet date there wos £831 outstonding contribution (2025- £4351. 23. Operating lease commltments At 31 March 2024 the company had commitment5 to make future minimum lease payrnents under non- cancellable operating leases as follows.. 2024 2023 Not later than l year Loter thon 1 yeor ond not loter thon 5 yeors Later than S years 32.600 33.100 130.400 130.400 358.600 391.200 521.600 554.700 24. Rèlatèd party transactions During the yeor the Trust received donotions totolling £Nil12023 - £20.0001 from Trustees. Poge 35