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2025-03-31-accounts

Registered number: 07409629 Charity number: 1140913

The Godiva Awakes Trust

Trustees' report and financial statements

For the Year Ended 31 March 2025

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Contents

Page
Reference and administrative details of the company, its Trustees and advisers 1
Trustees' report 2 - 6
Independent auditors' report on the financial statements 7 - 11
Statement of financial activities 12
Balance sheet 13
Statement of cash flows 14
Notes to the financial statements 15 - 34

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Reference and Administrative Details of the Company, its Trustees and Advisers For the Year Ended 31 March 2025

Trustees Mr R T A Medwell
Mr J McGuigan
Ms C Thompson(resigned 14 January2025)
Dr G Sharp
Ms M Kaur
Mr S Stewart(resigned 19 February2025)
Ms H Pilling
Mr P S Belfield(appointed 14 January2025)
Mr D Naik(appointed 14 January2025)
Ms J Pinson(appointed 14 January2025)
Company registered
number
07409629
Charity registered number
1140913
Registered office
Unit 4, Sandy Lane Business Park
Daimler Powerhouse
Sandy Lane
Coventry
West Midlands
CV1 4DQ
Executive Director
M Poskitt (Resigned 28 February 2025)
Chief executive officer
A Mackechnie (Resigned 5 September 2025)
Independent auditors
Dains Audit Limited
2 Chamberlain Square
Paradise
Birmingham
B3 3AX

Page 1

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Trustees' Report For the Year Ended 31 March 2025

The Trustees present their annual report together with the audited financial statements of the company for the 1 April 2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Structure, governance and management

a. Constitution

The Godiva Awakes Trust is a charitable company Limited by guarantee, incorporated on 15 October 2010 and registered as a charity on 29 March 2011. 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. In the event of the company being wound up the members are required to contribute an amount not exceeding £10 per member.

b. Methods of appointment or election of Trustees

The organisation seeks to recruit trustees who are of a professional standing in the local community with a range of skills and contacts. Recruitment is largely informal with known professional contacts 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.

c. Risk management

The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

Objectives and activities

a. Strategies for achieving objectives

The Trust continues to operate under the brand identity of ‘Imagineer Productions a division of The Godiva Awakes Trust’, with the legal entity being the Trust.

The Trustees meet every quarter and review all of the Board reports prepared by the Officers.

Page 2

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Trustees' Report (continued)

For the Year Ended 31 March 2025

Objectives and activities (continued)

b. Activities undertaken to achieve objectives

This has been a year of renewal and growth for Imagineer. Under the leadership of Angus MacKechnie (Creative Director/CEO) and Mimi Poskitt (Executive Director), we began to build a new chapter for the organisation. The focus has been on strengthening our presence in Coventry and Warwickshire while connecting with national and international professional partners in the outdoor arts sector to deliver ambitious and accessible programmes.

Our work this year has reached thousands of people, creating joy, pride and a sense of community. From turning city streets into vibrant stages to nurturing young talent into professional pathways, we have remained committed to our mission of making extraordinary creativity available to everyone.

Several new Board appointments have begun the process of reinvigorating the governance, which is an ongoing process and crucial to our growth.

Key programmes delivered included:

Streets of Cov Festival (Jun–Jul 24)

• Highlights included Cia Kamchàtka, Fraser Hooper, Autin Dance Theatre, Highly Sprung and Stopgap Dance Company.

Transformations Programme

• Supported 51 participants aged 18–35 through training, mentoring and performance opportunities.

• 73% of spring/summer participants progressed into creative careers, training or employment.

• Culminated in showcases at the Godiva Festival and Illuminate: Transformations Takeover.

Powerhouse Youth Zone at the Godiva Festival (Jul 24)

• Workshops, puppetry, music and performances showcasing young local talent.

Creative Explorers in Nuneaton & Bedworth

• Milesians: a circus, music and storytelling show celebrating migration, featuring 38 performers and 71 participants.

• Art on the Streets: 21 artists worked with GRIT Art Central to transform public spaces and even six lorries into mobile artworks.

• Imagine Bamboo & The Harmony Project: 3,000 audience members in Riversley Park experienced NoFit State’s BAMBOO alongside six newly commissioned bamboo artworks and acoustic installations by Cave Urban.

Imagine Bamboo & BAMBOO

• BAMBOO, created with NoFit State Circus, toured 26 festivals across the UK and Europe.

Page 3

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Trustees' Report (continued)

For the Year Ended 31 March 2025

Objectives and activities (continued)

Other activity

c. Public benefit

The Trustees have each received copies of the Charity Commission Guidelines on Public Benefit and this forms part of the Induction Pack for new Trustees. The Public Benefit provided by the charity is promoting artistic appreciation.

Achievements and performance

a. Main achievements of the company

The Godiva Awakes Trust, as Imagineer Productions, delivered a number of public events and engagement projects with the community. Foremost was the Imagine Bamboo project, with iterations in Liverpool, London and Coventry. The young people’s engagement programme, Transformations, was a major part of our work at the Godiva Festival. We partnered with Media Mania to deliver the Powerhouse Youth Zone. This period was marked by fundraising and planning for the Creative Explorers project and becoming part of the Arts Council England National Portfolio, as well as recruitment of a new Creative Director and Senior Management team.

Our work this year was made possible through the support of:

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

Page 4

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Trustees' Report (continued)

For the Year Ended 31 March 2025

b. Reserves policy

Unrestricted general reserves as at 31 March 2025 are £44,156 (2024 - £77,402).This was a planned use of our reserves in the year, which saw us maintaining unrestricted general funds at a similar level, whilst utilising the designated funds as noted in the next sentence. Designated reserves at 31 March 2025 were £Nil (2024 - £34,000).

The Trust’s policy is to hold 3 to 6 months overhead costs as a reserves figure, which we aim to achieve during the next financial year.

Restricted reserves include Leasehold Improvements following the redevelopment of the Daimler Powerhouse which is being depreciated across the 20 year life of the building lease.

c. Heritage asset

After much discussion over several years, the Board decided in the prior year (with the input of its Executive and following external professional advice) to change how the Heritage Asset (Lady Godiva) was treated in GAT’s Balance Sheet. The Heritage Asset consisted of the Godiva Puppet, the puppetry and cyclopaedia rigs and the wagon that the puppet travels on. In accordance with Charity Commission guidance and standard accountancy practice for “heritage assets”, Lady Godiva had continued to appear on our Balance Sheet at its original (and not discounted or depreciated) value, a cost of £645,000.

Whilst Lady Godiva 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 specifically-invited contributor to the Platinum Jubilee Pageant in 2022), the GAT Board believed this was an appropriate time to recognise the “passage of time” since Godiva was first created and valued (at cost) and the impairment in its (real) value since then.

We have therefore removed it as a specific Heritage Asset from our Balance Sheet and have made a corresponding amendment to the relevant Restricted Fund.

d. Financial risk management objectives and policies

Trustees continue to review the organisation’s risk register quarterly, with updates on project delivery, fundraising and financial security. Funding pipelines are closely monitored, and all projects are risk assessed to ensure the safety of participants, audiences and staff.

Plans for future periods

Following the planned transition from original founding executives to a new senior executive leadership, plans for 202526 have remained modest and the organisation is mostly focused on delivering and delivering a new vision for Imagineer as it moves forward on its creative "journey". Projects will include the continuation of some aspects of Imagine Bamboo and Teach-Make, as well as supporting the further development of NoFit State’s new production. The organisation will be developing a new staffing structure and hopefully delivering more work in the city.

Further information can be found on our website www.imagineer-productions.co.uk

Page 5

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Trustees' Report (continued)

For the Year Ended 31 March 2025

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

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 enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditors

The auditors, Dains Audit Limited, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Mr J McGuigan

Chair of Trustees

Date: 7 October 2025

Page 6

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Independent auditors' report to the Members of The Godiva Awakes Trust

Opinion

We have audited the financial statements of The Godiva Awakes Trust (the 'charitable company') for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 7

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Independent auditors' report to the Members of The Godiva Awakes Trust (continued)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 8

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Independent auditors' report to the Members of The Godiva Awakes Trust (continued)

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

Page 9

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Independent auditors' report to the Members of The Godiva Awakes Trust (continued)

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

To address the risk of fraud through management bias and override of controls, we:

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Page 10

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Independent auditors' report to the Members of The Godiva Awakes Trust (continued)

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Andrew Morris

Andrew Morris (Nov 3, 2025 11:14:28 GMT)

Andrew Morris FCA (Senior statutory auditor)

for and on behalf of

Dains Audit Limited

Statutory Auditor Chartered Accountants

Birmingham

Page 11

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Statement of financial activities (incorporating income and expenditure account) For the Year Ended 31 March 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Total income
Expenditure on:
Charitable activities
6
Other expenditure
8
Total expenditure
Net expenditure
Transfers between funds
15
Net movement in funds
Reconciliation of funds:
Total funds brought forward
15
Net movement in funds
Total funds carried forward
15		 Unrestricted
funds
2025
£
10,700
423,626
72,784
507,110
555,887
-
555,887
(48,777)
15,531
(33,246)
77,402
(33,246)
44,156		 Restricted
funds
2025
£
15,000
260,707
-
275,707
619,522
-
619,522
(343,815)
(15,531)
(359,346)
2,078,010
(359,346)
1,718,664		 Total
funds
2025
£
25,700
684,333
72,784
782,817
1,175,409
-
1,175,409
(392,592)
-
(392,592)
2,155,412
(392,592)
1,762,820		 Total
funds
2024
£
500
1,045,271
87,864
1,133,635
939,214
645,000
1,584,214
(450,579)
-
(450,579)
2,605,991
(450,579)
2,155,412

The notes on pages 15 to 34 form part of these financial statements.

Page 12

The Godiva Awakes Trust

(A Company Limited by Guarantee) Registered number: 07409629

Balance Sheet

As at 31 March 2025

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Creditors: amounts falling due within one year
14
Net current assets
Total net assets
Charity funds
Restricted funds
15
Unrestricted funds
15
Total funds		 28,556
145,940
174,496
(78,076)		 2025
£
1,666,400
96,420
1,762,820
1,718,664
44,156
1,762,820		 193,230
274,680
467,910
(87,852)		 2024
£
1,775,354
380,058
2,155,412
2,078,010
77,402
2,155,412

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

_________

Mr J McGuigan

Chair of Trustees

Date: 7 October 2025

The notes on pages 15 to 34 form part of these financial statements.

Page 13

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Statement of Cash Flows

For the Year Ended 31 March 2025

Note
Cash flows from operating activities
Net cash used in operating activities
18
Cash flows from investing activities
Purchase of tangible fixed assets
Net cash used in investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
19
The notes on pages 15 to 34 form part of these financial statements		 2025
£
(126,215)
(2,525)
(2,525)
(128,740)
274,680
145,940		 2024
£
202,498
(5,222)
(5,222)
197,276
77,404
274,680

Page 14

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

1. General information

The Govida Awakes Trust is a charitable company incorporated in England and Wales and registered with the Charity Commission. The address of the registered office is given in the reference and administrative details section of these financial statements. The nature of the Charity's operations and principal activities are detailed in the Trustees Report.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

The Godiva Awakes Trust 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.

2.2 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability to estimate with sufficient accuracy the amount receivable. Evidence of entitlement to a legacy exists when the company has sufficient evidence that a gift has been left to them (through knowledge of the existence of a valid will and the death of the benefactor) and the executor is satisfied that the property in question will not be required to satisfy claims in the estate. Receipt of a legacy must be recognised when it is probable that it will be received and the fair value of the amount receivable, which will generally be the expected cash amount to be distributed to the company, can be reliably measured.

Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Gifts in kind donated for distribution are included at valuation and recognised as income when they are distributed 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 covenant is recognised at the time of the donation.

Page 15

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

2. Accounting policies (continued)

2.3 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

2.4 Tangible fixed assets and depreciation

Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined to be the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

Leasehold improvements - 5% - 10% straight line
Office equipment - 20% straight line

Depreciation on leasehold improvements - Daimler Powerhouse depreciation is charged from the point of completion of the construction project, which for depreciation purposes was 1 April 2021 over the period of the 20 year lease on a straight line basis.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of Financial Activities.

Page 16

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

2. Accounting policies (continued)

2.5 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.6 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.

2.7 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

2.8 Financial instruments

The company 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.

2.9 Operating leases

Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

2.10 Pensions

The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.

Page 17

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

2. Accounting policies (continued)

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

3. Income from donations and legacies

Donations
Donations		 Unrestricted
funds
2025
£
10,700		 Restricted
funds
2025
£
15,000
Restricted
funds
2024
£
500		 Total
funds
2025
£
25,700
Total
funds
2024
£
500

Page 18

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

4. Income from charitable activities

Grants received
Grants received
Income from other trading activities
Events, rent and other income
Events, rent and other income		 Unrestricted
funds
2025
£
423,626
Unrestricted
funds
2024
£
466,696		 Restricted
funds
2025
£
260,707
Restricted
funds
2024
£
578,575
Unrestricted
funds
2025
£
72,784
Unrestricted
funds
2024
£
87,864		 Total
funds
2025
£
684,333
Total
funds
2024
£
1,045,271
Total
funds
2025
£
72,784
Total
funds
2024
£
87,864

5. Income from other trading activities

Page 19

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

6. Analysis of expenditure on charitable activities

Summary by fund type

Charitable activities
Charitable activities
Summary by expenditure type
Charitable activities
Charitable activities		 Staff costs
2025
£
240,164
Staff costs
2024
£
162,071		 Unrestricted
funds
2025
£
555,887
Unrestricted
funds
2024
£
545,086
Depreciation
2025
£
111,479
Depreciation
2024
£
113,727		 Restricted
funds
2025
£
619,522
Restricted
funds
2024
£
394,128
Other costs
2025
£
823,766
Other costs
2024
£
663,416		 Total
2025
£
1,175,409
Total
2024
£
939,214
Total
2025
£
1,175,409
Total
2024
£
939,214

Page 20

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

7. Analysis of expenditure by activities

Charitable activities
Charitable activities
Analysis of direct costs
Project costs		 Activities
undertaken
directly
2025
£
599,760
Activities
undertaken
directly
2024
£
376,930		 Support
costs
2025
£
575,649
Support
costs
2024
£
562,284
Total
funds
2025
£
599,760		 Total
funds
2025
£
1,175,409
Total
funds
2024
£
939,214
Total
funds
2024
£
376,930

Page 21

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

7. Analysis of expenditure by activities (continued)

Analysis of support costs

Staff costs
Depreciation
Office costs
Financial management
Freelance support staff
Rent
Premises costs
Accountancy fees
Other support fees
Advertising
Bad debt provision
Bank charges
Governance costs		 Total
funds
2025
£
240,164
111,479
62,198
37,763
17,632
32,600
54,046
3,549
5,492
4,156
-
626
5,944
575,649		 Total
funds
2024
£
162,071
113,727
62,680
47,500
95,867
32,600
24,583
9,935
8,574
3,615
(200)
183
1,149
562,284

Page 22

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

8. Other expenditure

Heritage assets impairment charge
Heritage assets impairment charge
9.
Auditors' remuneration
Fees payable to the company's auditor for the audit of the company's annual
accounts
Fees payable to the company's auditor in respect of:
All taxation advisory services not included above
10.
Staff costs
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Restricted
funds
2024
£
645,000
2025
£
8,570
3,000
2025
£
217,359
16,311
6,494
240,164		 Total
funds
2025
£
-
Total
funds
2024
£
645,000
2024
£
7,700
3,975
2024
£
150,679
8,008
3,384
162,071

Page 23

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

10. Staff costs (continued)

The average number of persons employed by the company during the year was as follows:

2025 2024
No. No.
Employees 7 6

No employee received remuneration amounting to more than £60,000 in either year.

11. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2024 - £NIL).

During the year ended 31 March 2025, no Trustee expenses have been incurred (2024 - £NIL).

Page 24

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

12. Tangible fixed assets

Cost or valuation
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
Debtors
Trade debtors
Other debtors
Prepayments and accrued income		 Long-term
leasehold
property
£
2,066,021
-
2,066,021
310,265
103,440
413,705
1,652,316
1,755,756		 Office
equipment
£
56,407
2,525
58,932
36,809
8,039
44,848
14,084
19,598
2025
£
16,565
2,166
9,825
28,556		 Total
£
2,122,428
2,525
2,124,953
347,074
111,479
458,553
1,666,400
1,775,354
2024
£
178,730
1,468
13,032
193,230

13. Debtors

Page 25

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

14. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2025
£
49,087
4,287
1,046
23,656
78,076		 2024
£
37,007
29,191
940
20,714
87,852

Page 26

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

15. Statement of funds

Statement of funds
Statement of funds - current year
Balance at 1
April 2024
£
Unrestricted funds
Designated funds
Creative Producer / Projects seed
fund
24,000
Future Artistic Programme
10,000
34,000
General funds
General Funds
43,402
Total Unrestricted funds
77,402
Restricted funds
Leasehold Improvements &
Equipment
1,763,799
Creative Explorers - NBBC
221,706
Creative Explorers - Paul Hamlyn
45,642
Transformations - Reaching
Communities
46,863
2,078,010
Total of funds
2,155,412		 Income
£
-
-
-
507,110
507,110
-
108,507
-
167,200
275,707
782,817		 Expenditure
£
-
-
-
(555,887)
(555,887)
(106,982)
(317,395)
(45,642)
(149,503)
(619,522)
(1,175,409)		 Transfers
in/(out)
£
(24,000)
(10,000)
(34,000)
49,531
15,531
-
(7,000)
-
(8,531)
(15,531)
-		 Balance at 31
March 2025
£
-
-
Unrestricted funds
Designated funds
Creative Producer / Projects seed
fund
Future Artistic Programme
General funds
General Funds
Total Unrestricted funds
Restricted funds
Leasehold Improvements &
Equipment
Creative Explorers - NBBC
Creative Explorers - Paul Hamlyn
Transformations - Reaching
Communities
Total of funds
-
44,156
44,156
1,656,817
5,818
-
56,029
1,718,664
1,762,820

Page 27

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

15. Statement of funds (continued)

Creative Explorers

Funding was secured from Nuneaton & Bedworth Borough Council to deliver a 21 month project to create a unique cultural identity for Nuneaton & Bedworth.

Part of the Creative Explorers programme was to work in primary schools in Nuneaton & Bedworth and deliver our Teach Make model.

A grant was also awarded to Artichoke from the 29th May 1961 Charitable Trust with £25,000 allocated to our element of this project, in particular to support the aim of increasing employment opportunities, creating jobs and access to further education and training. These funds were fully spent in the financial year.

Transformations - Reaching Communities

The Trust was awarded funding from the National Lottery Community funds from their RC Midlands Region programme totalling £441,000 over 3 years commencing Jan 2024, to develop our Transformations work across Coventry, Nuneaton & Bedworth through our Imagine, Create, Inspire process, holistically supporting young peoples personal and career development.

Designated funds

Creative Producer / Projects seed fund

The designated fund held of £24k for Creative Producer / Project seed funding held at 31 March 2024 was maintained in the financial year as we saw a transition in our senior leadership team. This has now been transferred to the general funds.

Future Artistic Programme

A designated fund of £10,000 was created in the financial year to support the development and delivery of future artistic programming as we transition to a new artistic leadership. This has now been transferred out in year.

Page 28

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

15. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Creative Producer / Projects seed fund
Future Artistic Programme
General funds
General Funds
Total Unrestricted funds		 Balance at
1 April 2023
£
24,000
-
24,000
43,928
67,928		 Income
£
-
-
-
554,560
554,560		 Expenditure
£
-
-
-
(545,086)
(545,086)		 Transfers
in/out
£
-
10,000
10,000
(10,000)
-		 Balance at
31 March
2024
£
24,000
10,000
34,000
43,402
77,402

Page 29

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

15. Statement of funds (continued)

Restricted funds
Heritage Fixed Asset Fund
Leasehold Improvements & Equipment
Paul Hamlyn Foundation – Teach Make
ACE Pause & Plan grant
Creative Explorers - NBBC
Creative Explorers - Paul Hamlyn
Transformations - Reaching Communities
Total of funds		 Balance at
1 April 2023
£
645,000
1,870,810
14,458
7,795
-
-
-
2,538,063
2,605,991		 Income
£
-
-
-
-
435,575
60,000
83,500
579,075
1,133,635		 Expenditure
£
(645,000)
(107,011)
(14,458)
(7,795)
(213,869)
(14,358)
(36,637)
(1,039,128)
(1,584,214)		 Transfers
in/out
£
-
-
-
-
-
-
-
-
-		 Balance at
31 March
2024
£
-
1,763,799
-
-
221,706
45,642
46,863
2,078,010
2,155,412

Page 30

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

16. Summary of funds

Summary of funds - current year

Designated funds
General funds
Restricted funds
Summary of funds - prior year
Designated funds
General funds
Restricted funds		 Balance at 1
April 2024
£
34,000
43,402
2,078,010
2,155,412
Balance at
1 April 2023
£
24,000
43,928
2,538,063
2,605,991		 Income
£
-
507,110
275,707
782,817
Income
£
-
554,560
579,075
1,133,635		 Expenditure
£
-
(555,887)
(619,522)
(1,175,409)
Expenditure
£
-
(545,086)
(1,039,128)
(1,584,214)		 Transfers
in/out
£
(34,000)
49,531
(15,531)
-
Transfers
in/out
£
10,000
(10,000)
-
-		 Balance at 31
March 2025
£
-
44,156
1,718,664
1,762,820
Balance at
31 March
2024
£
34,000
43,402
2,078,010
2,155,412

Page 31

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

17. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2025
£
9,583
112,649
(78,076)
44,156		 Restricted
funds
2025
£
1,656,817
61,847
-
1,718,664		 Total
funds
2025
£
1,666,400
174,496
(78,076)
1,762,820

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2024
£
-
165,254
(87,852)
77,402		 Restricted
funds
2024
£
1,775,354
302,656
-
2,078,010		 Total
funds
2024
£
1,775,354
467,910
(87,852)
2,155,412

Page 32

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements

For the Year Ended 31 March 2025

18. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the year (as per Statement of Financial Activities)
Adjustments for:
Depreciation charges
Impairment charges
Loss on the sale of fixed assets
Decrease/(increase) in debtors
Decrease in creditors
Net cash provided by/(used in) operating activities
19.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents
20.
Analysis of changes in net debt
At 1 April
2024
£
Cash at bank and in hand
274,680		 2025
£
(392,592)
111,479
-
-
164,674
(9,776)
(126,215)
2025
£
145,940
145,940
Cash flows
£
(128,740)		 2024
£
(450,579)
113,727
645,000
180
(86,684)
(19,146)
202,498
2024
£
274,680
274,680
At 31 March
2025
£
145,940

Page 33

The Godiva Awakes Trust

(A Company Limited by Guarantee)

Notes to the Financial Statements For the Year Ended 31 March 2025

21. Pension commitments

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £6,494 (2024 - £3,384). At the balance sheet date there was £956 outstanding contribution (2024 - £831).

22. Operating lease commitments

At 31 March 2025 the company had commitments to make future minimum lease payments under noncancellable operating leases as follows:

Not later than 1 year
Later than 1 year and not later than 5 years
Later than 5 years		 2025
£
32,600
130,400
326,000
489,000		 2024
£
32,600
130,400
358,600
521,600

23. Related party transactions

During the year the Trust received donations totalling £2,000 (2024 - £Nil) from Trustees.

Page 34

The Godiva Awakes Trust - Accounts For Signing

Final Audit Report

2025-11-04

Created: 2025-11-03 By: Imagineer Productions (info@imagineerproductions.co.uk) Status: Signed Transaction ID: CBJCHBCAABAAhohmYE4kFWTPyMLpiJR3vj3Yif4uHx7R

"The Godiva Awakes Trust - Accounts For Signing" History

Document created by Imagineer Productions (info@imagineerproductions.co.uk) 2025-11-03 - 11:11:13 GMT

Document emailed to Andy Morris (amorris@dains.com) for signature 2025-11-03 - 11:11:19 GMT

Document emailed to John McGuigan (jmcg2424@outlook.com) for signature 2025-11-03 - 11:11:19 GMT

Email viewed by Andy Morris (amorris@dains.com)

2025-11-03 - 11:13:28 GMT

Document e-signed by Andrew Morris (amorris@dains.com) Signature Date: 2025-11-03 - 11:14:28 GMT - Time Source: server

Email viewed by John McGuigan (jmcg2424@outlook.com) 2025-11-03 - 13:50:44 GMT

Email viewed by John McGuigan (jmcg2424@outlook.com) 2025-11-04 - 12:26:58 GMT

Document e-signed by John McGuigan (jmcg2424@outlook.com) Signature Date: 2025-11-04 - 12:28:30 GMT - Time Source: server

Agreement completed.

2025-11-04 - 12:28:30 GMT