Compauy T¢gistralion number: 07627420 Charity registration number: 1143958 Proud & Loud Arts (A company limited by guaranlee) Annu81 Report and Financial Statements for th¢ Yc8r Ended 31 March 2024
Proud & Imud Arts Contents Reference and AdTDiDi5trative Details slces, ReEK>rt 2to6 Statement of TSt¢' Responsibilities Indepcndcnt Examinevs Rcport Statement of Financial Activiti¢5 BBlance sI¢t io Note8 to the Financial Stalemellls 111020
Proud & Loud Arts Reference and Administrative Details Trustees Ms J Butler Ms J Charle8WOrth MS K Hoye Mr D Smallcy (appointed l January 2024) Ms T Drury (appolnted 16 January 2024) Ms H Skalli (appoillted 6 Fcbnmry 2024) Dr S P Ruding {8ppoiiilcd 23 May 2024) Ms J Baidoo (appoint¢d 28 October 2024) Mr T Hogan CEO & Artlstlc Dlrector Charlty Reglstratlon Nunther 1143958 Company RegtstrAtlon Number 07627420 The Charity is incoTporated in England and Walss. 24 Edge Fold CToscent Worsley Manchcsler M28 7EX Regl.%tered Offlce PrlDclpal Office 24 Edge Fold CTCS¢¢nt Worsl¢y Manchester M28 7EX Indepelldcnt E%8rnlner Beever and Struthers One Express l George Leigh St Manchesler M4 5DL Bankers CAF Bank 25 Kings Hill Avenue Kings Hill West Malling K¢nl ME194TA Page I
Proud & Loud Arts Trustees, Report Th¢ Trustees, who are directors for thc purposes of company law, present the annu81 report together with the financial statements of the charitable company for the yw ended 31 March 2024. Objeetives Ind activiti&s Aims ofihe Chtsrity Proud and Loud Arts exists to ensure disabled people are respected as human beings. Through training, perforn]ance. and advocacy, we provide pathways for disabled arti51s to thrive, cnsuTing lived experience voi¢¢s are heard, their contributions are rc¢ogni5ed, and the creatsvc industries 8re more inclusive and equitable. The year 2023124 has been a pivotal year for Proud and Loud Arts. As a National Portftilio Organi5ation with Arts Council England (2023-2026), our new ststus has sUPPOrtcd significant organisalional and creative growth, advancing our mission to cmpower disabled artists. Our Vlslon and Mission To ¢r¢&te & world wber¢ disabled artl8ts are valued, tr8ined, and given opportunities to excel creatively in an inclusive and accessiblc perfoming 8rt8 community. We aim lo lead seclor-wide change by removing barriers to access, foslering collaboration, and creating spaces for dis&blcd artists lo contribut¢ to the arts on local, national and internatio1 stages. Oiir Core Volmes Speak Upfor Everyone Ensuring equ&1 OpponitI¢5 for all voices to be heard. Everyone Coiinls Cclebr8ting diversity Rnd fostering inclusivity. Always Honest Emphasising openness and transparency in all our work. Hlghllghts Programmes & Evonts PerfOrMan(S) Ensemble 1-2-1 Engagement Programme Summer Outreach Programme Residential No. of events Attendance 107 782 16 1337 121 15 78 47 152 16 159 Lookout Individual projects 31 Page 2
Proud & Loud Arts Trustees, Report Achievements and Performance Salfordmiiseum & Arts '23 Gallery Event.. "Ajfirmations and Ollier Works" This cvcnl in October '24 aitucd to raise awareness of Proud and Loud Arts in th¢ City of Salford and start conversation about our developing access training packnge with a vicw to further d¢velopment and testing. The ¢vent wa5 WCII attended and attracted interest from culthral venues across Salford and Manchester. This event initiated important strategic convetsaliolls. gcneraled paid university bookings and a signifi¢Bnt partnership project for 2024125. MMUBrooks Building- Performance This was a paid booking March '24 for HELP by Janet clrIeSWorth & Dani¢ll¢ Maycox. This work was Secured from the event at Salford Museum Art Gallery. The audience for this show w¢re social work studen18 who found the show moving, informativc and thought provokng for professional developmcnt. A fier booking for the show has been decur¢d in 2025. Ensemble ID April 2023, we invited all our 8tTiliated artists to The Whitsvorth Art Gallery to explore a new and exciting future for the company. We spcn¢ time together considering our performance style and discussing our appmach lo perfonnance tn the coming year8. We decided: I, To complete one Show for the theatre. The Cratchiis, or'PyTamus and Thisbe,. 2. Continu¢ lo perfomi "Cells- A body of work" & generate interest in Access Training. AGtivity Skills Development Leaming Characters e4 Film Outputs Short YouTube film Aprll- June Juno- Aug Access Training Revièw Revisit Existin9 Work A Plan (perforniance) Sept- De¢ Rehearsal Perfomance Skills PerfoTman Jan - Mar Meet new Artists New Skills Personal Reflettions Wc also encouraged artists to reflect on their work to dale and consider new pcrsonal ambitions as part of the En8embl¢ group and as an individual artist. This work took placc as part of a series of1-2-1 meetings. Page 3
Proud & Loud Arts Trustees, Report ngagement Programme This year we set oul lo d¢v¢lop our engagement programtlles and Consid how we lljight reach and engage new people, particularly in Trafford. The Manchest¢r group in March 2024 is IhTiving with our partner at Contact MCR with a cohort of 14 participants attending regularly. This coromitment enabled us to off¢r a full-d&y fornmt wher¢ all but 2 group Djcmbers accepted thc offcr. Manchuter Adivity Leaming Tern) 1 Considering the audience ColSeclive Storytelling Voice & Characters Physicality & Voice laban Outputs Personal reflections Term 2 Sharing (family & friend5) Terni 3 Movement Personal Rellertions The Trafford Group is a new group Started this year based at Gorse Hill Studi05. W¢ delivered to I I people Ibis year through in thc Trufford Group, with 7 moving onto professional prOarnMeS, and 3 new meinbers scheduled to join in April 2024. Tiafford Term 1 Activity Devising Loaming Story (Romeo & Juliet) Character development Outputs Sharing {family & friends) A Plan (pÈrforniance) Torni 2 Characters Term 3 Rehearsal Perfomance Skills Perfomiance Summer Outreva¢h This yeals Summer activity sought lo engage commwlities in Trafford and Manchester by off¢rin8 disability groups a free ¢reAtivc tastcr workshop held in their home venue. The proj¢ aimed to broaden our profile and to rccNit new peoplc to our Tegular weckly programmc. By Collaborating with local Community Capacity Buildcrs at L&Q Housing we rcachd out to 16 organisatiofys now to us. We dcliV¢d tsster to 3 organisations in Trafford, engaging 49 disabled people. Organisation5 People 49 Places Fillod Sessions 121 Lookout Our Lookout series featured a diverse arrny of ¢ultural experiellc. In May* we attend¢d "The Human Hour" at The tA>wry, and ill Jun¢, we explored the powerful exhibit "Nothing about us wiibout us" at Peoples History Musewn. The summer month5 saw us rccording at MMU and enjoying "Cinderclla" at Conlact in Dcccmber. The ncw year began with visits to the Whitworth Art Gallery and Clizclls Assembly at The Lowry. February and March were filled with perforn)an¢ of "Bluebeard" at Horn4 'Jungle Book" at The Factory. and Self and Otbcr" by Cryptic Arts at Flome. Events Venues Places Filled Places availyble 80 78 Page 4
Proud & Loud Arts Trustees, Report Bendrlgg Residential In September 2023, we embarked on a significant residential projcct to tbe Belrig8 Trust in Kendal. This trÈp was designed to ¢ombine creative 2nd adventure activili¢s with rcspitc for our rnemb¢ts and their caregivers. The accc8sible accommodation and outdoor activities, such as abseilingy caving. and canoein& provided A perfect backdrop for creative cxploration. Our key objeclivc5 were to r¢vi¢w previous work, consider new creative approaches, attd create time for creative play. We &130 aimed lo build relationships with potential new artists. The activilies included rnovcmeDI exercises inspir¢d by tbe landscape. iling 5e55ions that wov¢ words about natur¢. and voice workshops that crcalcd nature-inspired soundscapes. The impact of the trip was profound and personal to each individual and markcd A true end to th¢ cxperiencc of lockdovrn and a new sense of freedOL The then)es of autODomy, peer support, resiliellc4 And routine emerged strongly, highlighting the transformativc power of Ihe cxpcrience. Looking ahead, we plan to continue building our team of 8rtisls and develop proposals based on ihe rdingS from thc Bendrigg piojwl. Awards Oui, nMberS received significant recognition for inGlu$ion this year. Daryll Duncan was honOud 88 a Community Champion at the Greater Manchester Health 8nd Care Cbampioll AwArds. . Chrissy Jones won the Creative Community .8pirit Award 8t The Spirit Awaids ID October Janet Charl¢8WOrth was cclebraled 98 Volunteer of the Year at the Heart of Salford Awdrds irj Novembrr 4nd featured ill the CVS S8lford'8 International Women's Day campaign. ProfiKc and FundrAlslng Acllvlty Charity Ambassador Simon Gregson made a celebrity appearan¢e on "Deal or No Deal" crcating significant intercsl in the cbarily ond 8 spike of enquiri¢s fi'om disabled people requesting morc infomtion. A buge thank you to Simon for his efyorts in raising over £15,000 to support our activities. Concluslon The year 2023124 has been a period of SignifinI growth and development for Proud and XA)ud Arts. We have successfully engaged with the community, developed creative projects, and promoted professional development for disabl¢d artists. Our work Rligns with Ihe Arts Council England's "ixt's Create" stralcgy, contributing to more creative and cultLLrally rich so¢i¢ty. We look forvdrd to building on Ihesc nchievements in ihr comttig year. Plans for Future Perlods (2024-2025) Expand engog¢m¢nl prograEDtnes to Teach Jnore participants across Greatcr Manchester. Implement professional dcvelopment initi&tives to prepare disabled artists ftir leadership roles. (2025-2026) . Strengthen collaborations with tjational OTgani58tions to infiucn policy and pw¢i¢e. . Devclop new creativc works to furthcr chall¢nge perccptions and irL5pirc audiences. (2026-2027) • Increase investment to Sustain and grow pgraMS. . Solidify Proud and Loud Arts as 8 leader in inclu8iv¢ creative p[aLtsc. Page 5
Proud & Loud Arts Trustees, Report Fiiiaiicial revlew Policy oil resenpes Proud and Loud Arts maintains a r¢seryes policy to cnBure fmAncial stability and sustainability. Reserves are held to cover 3-6 rnonths of Lore operating ¢osts. providing a contingeY for unforeseen circumstsnces, and suppoiting the long-lerni delivery of our mission. The r¢5¢TV¢S polxcy is reviewed annually to ensute it remaiDS appropriatc far the organisation's needs and goals. At Ilie balance sheet dale the total fidS was £96.241 (2023: £78.071) of whicb £24,818 (2023.. £53,569) IB held in reslricted fvnds and £4,804 {2023: £6,986) is held in fued assets leaving £66.619 (2023.. £E7.516) in free reservcs. Puhlie benefit Thc Trustees confum that they have complicd with the requircmcnls of section 17 of the Charities A¢1201110 have due regard to the public bencfit byuidance publish¢d by the Charity Commission foT England aThd Wales. Structurcj governlnce And man8gement Nalure ofgovernlrtg documepil The Fund was eslabli5hcd und¢r a Tn]st Deed executed on 9 May 2011 as amended by special resolulion dated 13 August 2018. The Trust Dced s¢ts out the provi8ions of th¢ Charity for appointiDg and removing Tntee8 from oific¢. The Chai'ity 18 Colltrolled by ils 8overning documcnl, a Deed of TSt, and constileS an incorporated Charity. The Truste&8 who have serycd during the year are set out on pagc l. They meet rc8ul4rly to discu89 matters of the Charity and it's financial perlormanc¢. MAJor rlsks aiid iiiaiiogetsieiit of¢hose rlsks The trnstees have reviewed the risks facing the charity. Tbis involved identifying the types of risks the Cliarity faces and identifying any means of mitigating those rtsks. As port of Ihi5 process ibe trusiec5 have reviewed the internal controls and syslcnis have been id¢ntified to rnitigalc Iho8C ri8ks. SMAII comp#nles provl¥ion statement This rOrt his beeTh pr¢par¢d in accordance with the srnall cofflpttnies regime under the Companxes Act 2006. Th¢ alal rcport was approvcd by the Tlee8 olthc Charity ollaol.12ia¥ and signed oll its behalf by: Ms J Charleswortli T[te Pa8e 6
Proud & Loud Arts Statement of Truste Responsibilities The Truslcc5 (who are also thc directors of Proud & Loud Arts for the PuOSc of company law) are responsible foi. preparing the Tnle¢s. report ld the finRllcial statements in a¢¢ordaiice wtth appli¢abl¢ law alld United Kingdom Accounting Standards (un]d Kingdom Generally Accepted Accouiiting Practice). including FRS 102 The Financial Reporting Si&ndard applicable in the UK and Republic of Ireland" Thc report aThd accounts h8vc been prepared in accoTdance with the provisions in the Companics Act 2006 relating to small compan&es. Company law requires the TnLStees to prepare tuian¢ial sthtemenls for each fcial year. Under company law thc Trustee5 Inust not approve the financial 51&lements unlS they are satisfied that they give & true and fair view of the state of affairs of the charitable company and of thc incoming r¢sourccs aod applic81ion of resources, includin8 its income and expenditure. of the charitsble comp&ny for th4t period. In preparing these financial statemenls, th¢ Trnstees are required 10: select suitable R¢¢oimtiAg policies and apply ihem consistelltly- observe the methods and principles in the Ckwities SORP. make judgemen15 and estimal¢s Ihat are re8sonable and prudent; slat¢ whcther applicablc accounting standards. comprising FRS 102 have been followcd, subject to any material departures disclosed and explained in thc financial 81&lements' and prepare the f)nancial statements on the going concern b&9is unless it Is inappropriale to presume thai th¢ charitablc company will Gontinu¢ in busincs5. The Trust¢es are responsible for keeping proper a¢¢ounling records thal can disclose with reasonable accuracy at any time the finallcial posilioii of the charitable company and eDablc them lo ensur¢ that the financial slalemcnls comply with the Companiu Act 2006. Thcy are also responsible for safcguarding the 8S5¢ts of thc charitable company and hcnce for taking reasonable sl¢ps for the prevenlion and deleclion of fraud and other irregularitie5. The Tnlee8 are responsible for the maintenaTJce and integrily of the corporate and financial infonnation included on the charitable companY$ website. Legislation governing the prcparalion and disseTnination of finaDcial 8l&lemenls may differ from legisl8tiort in other jwisdictions. Approved by the Tn1¢¢$ of tbe Charity on a.o.l.12.12¥ and Si¢d on Its behalf by.. Ms J Charlcswotth Trustee Page 7
Proud & Loud Arts Independent Examiner's Report to the trllstees of Prolld & Loud Arts {'the Company,) I rcporl to the Charity TnL8tecs on my ¢Ka]nation of the accoimts of the Company for thc year ended 31 March 2024. Responslbllltfies and basis of report A5 the Charity's Trustecs of Ilie Company (and also its directors for the pury)oses of company law) you are rcspollsible for th¢ preparation of the accounts in accordanc¢ with th¢ requiremeThls of the Compallits Act 2006 ('Ihe 2006 Act.). Having sat18fied myself that the accoun15 of the Company are not required to bc audiied under Part 16 of thc 2006 Act and are elÉgible for independent ¢x8nJinalion. I report ill T¢Speot of my examination of your Charity's accounts as carried out undcr scction 145 of the Charities Act 2011 ('thc 2011 Act,). In carrying out Jny examination I have followed the Directions given by thc Cknrity Commission under scction 145(5)(b) of the 2011 Act. Independent ex4nthier's stAt¢m¢nt Since the CompAny's gross income cxcccdcd £250.0(M) your examiner must be a member of 8 body listed in section 145 of the 2011 Act. I confirm that l am qualified to ut)d¢rtako Ihc examination because l am a mcrnbcr of , which is one of the listed bodie& I ha completed my examination. I confirni that no matters have conR to my utt¢ntion in connection with the examination giving ine cause lo believe.- accoullting records were not kept in respect of Pmud & Loud Arts as required by section 386 of the 2006 2. thc accounts do not accord with ihose records. or 3. the accounts do not comply with the Accounting requircmenls of section 396 of the 2006 Act other than ally requirement Ibut the accounts give a 'In and fair view, wbich is not a matter considered a$ part of an independent examination. or 4. the accounts havc not been prL'par¢d in accordance with the methods and principles of the Sialernent of RecomllLcndcd Piaclice for Mc¢ovnling and rcporting by charities [applicablc to charilics prepai'ing their accounts in aceordartce with the Financial Rq)ortinB Standard applicable in the UK and Republic of Ir¢land (FRS 102)]. I have no concerns and bav¢ Corne 8¢ross no other matters in conncGliott with the examtnation to vthicb attention should be drawn in this r¢port in order to enable a proper understanding of the aoUn15 to be r¢a¢bed. .H.E..fiLp4N.a..f.QA Beevcr and Struthcr8 One Bxpres8 l George L¢i8h St Manchester M4 5DL Date.. .0.0..! ko..J.o. Page 8
Proud & Loud Arts Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income alld Expeuditure AccouDt and Statement of Totsl Recognised Gains and Losses) Ullrestr5cted funds Restrlcted Total 2024 TotAI 2023 Note Incorne And Endowmellts from: Donations and legaciey Charitablc activities Investment incon 232,775 13,469 281 1,733 23,960 234,508 37,429 281 16,572 75,241 Total income 246.525 25.693 272,218 91.813 Expendlture on: Chorilabl¢ a¢tiviti¢s 199.603) (54.445) {254.048 132.687) Total cxpendittwe Net incomel(expendirc) Net movement in fwids (199,603 54,445) 254,048) {l32,68 46,922 28.752 18.170 40.874 46.922 (28,752) 18,170 (40,874) ReconeiIlAtlon of funds Total fiLnds brought foThvard Total ndS carried forward 24,502 53.569 78,071 96.24l 118,945 78.071 15 24,817 UDrestrlcted funds Restrl¢t¢d funds Total 2023 Note Income And Endowments frorn: Donations and legacies Charitable activitieb 16,572 8,903 16,572 75,241 66,338 Total income 25,475 66,338 91,813 Exp¢ndlthre on: Charitable activities 40,412 92,275 132.687 Total expenditu Net exp¢ndAlJJre Net movement in fid5 40,412) 92,275 132,687 14.937 25,937 40.874 (14,937) (25,937) (40,874) Reconclliation Df funds Total fjJnds brought forward Total funds trIed fonvard 39,439 79,506 118,945 15 24,502 53,569 78,071 All of the Charity's Activities dcrive from continuing operatio8 during th¢ above two periods. Thc notes on pagcs I l 10 20 frimi an integtal part of the6e financial slatcments. Page 9
Proud & Loud Arts (Registration number: 07627420) Balance Sheet as at 31 March 2024 2024 2023 Note Flxed assets Tangible assets 12 4.804 6.986 Current X51et$ Debtors Cash at bank alld in hand 13 1,260 97,8lO 2.336 71,139 73,475 99,070 Credltors.. ArnDUllti falling due wlthin one year 14 7,633 2,390) Net current A8sets 91,437 71,085 Iyet ll55ety 96.241 78,071 Funds of tbe Charity: Re51rlcted Ineome fullds Restricted fvnds 15 24,818 53,569 Unrestrlcted Income funds Utjrestricted ndS 71,423 24,502 TotAI fullds 15 96,241 78,071 For the financial year ending 31 March 2024 the Charity was cntitled to exernption froin audit und¢T section 477 of the Companies Act 2006 T¢laiing to small companie5. Director,4' responsibilities: The members have not required the Charity to obtsin an audit of its acwunts for the year in question i &c¢ord8ncc with 8cclion 476. and The dii'ectors acknowledge their responsibililies for complyiug with tb¢ Tequiretmits of the Act with respect to accounting records and the preparation of accounts. Thesc finktncial statements have been prepared ill accordancg with the special PTovisions relating to companies subject to the small companies regÉrne within Part 15 ofthe Companie5 Act 2006. Tlie financial st4tcments on pages 9 to 20 were approved by the Trustees, and authoris¢d for issue on gts1.i?.i.a4 and signed on their behaifby.. Ms J Charlesworth Trte¢ The notes on pages I I to 20 forni an itjlegrnl part of these fU¢tal statements. Page 10
Proud & Loud Arts Notes to the Financial Statements for the Year Ended 31 March 2024 I Charity stat$ The Ch8Tity is limited by guarantee. inco0[aled in England and Wales. and C0cquentlY docs not lthve share capital. Each of thc Truste&8 is liable to contribute an amount not exceeding £1 towards the assets of the Charity in the event of liquidation. The address of its rcgist¢red office is: 24 Edge Pold Crescent Worsley Manchester M28 7EX 2 AccoulltiDg policie8 Summary of sffiglllficant Y4CeOlllltlnE policles and key aeeounllng estlm4tes The prÉncipal accounting policles applied ill Ihe preparalion of tbese fanCIal stalen)enls 8re set out b¢low. These policies hAve been consisletsily applied lo all the years presented, unlcss oiher+vise slatcd. StAtcment of compugllce The fancial slalemcnts have b¢ell Prepared in a¢¢ordan¢¢ with Accounting and Reporting by Charitie&.' Statement of Recommended Practice (applicable to charitics preparing their accounts in accDI'dance with the Financial Reporting Standard applicable in the UK and Republic of ITeland (FRS 102)) (isgued ill October 2019) (Charities SOtIP (FRS 102)), the Financial Reporting Standard applic8bl¢ in th¢ UK and R¢public of Ireland (FRS 102) and thc Companies Act 2006. Basis of prcp#rotion Proud & Loud Arts mecls the definilion of a public benefit entity under FRS 102. Assets and liabilili¢s arc initially recogllised at historic41 cost or transaction value unless otherwise slaled in the relevaDI accaunting policy not¢8. Golng ¢oncerTr The Trustees consider that there are no n]alerial uncertaintics about the Charity's ability to continue as a going concern nor any signAfi¢&nt Jr¢a8 of uncertainty that affect the cArrying value of assets held by the Charity. Exemption from preparlng a c4sh flow stater)eul The Charity opted to early adopt Bulletin I published on 2 F¢bnry 2016 and have tberefor¢ Dot iDclud¢d a ¢ash flow 51alement in these fm8ncial slat¢rn¢Thts. Judgements and kcy source% of estimailon uneertafnty The PTeparion of the financial statements requires management lo make judgemcnts. cs¢imat¢s and 855umptions that affect the amounts reported. These est1Hte8 and judgements are Continually reviewed and are bad on expei'icncc and oth¢r fa¢lors, including expectations of future events that bclievcd kn be rcAsonable under tli¢ circumstances. In¢oLnc and cndowments All in¢om¢ is recognised ollce the charity ha5 entitleent lo the income, it is probable that the incom¢ will b¢ received and the aTnount of in¢ome r¢]yble bc measured reliably. Pagell
Proud & Loud Arts Notes to the Financial Statements for the YeY4r Ended 31 March 2024 Ilonationj and legacies Donations from individuals alld other bodies (Dot bciTrg of tbe natrjre of a grnnl) are rewgllised when receivable. Graiils Yec£ivable Grunts, whether of a capital or revenue nature. are recognised when Ihc charity has entitlctncnt to the funds perfonn8nce conditions have beell mel and it is probable that the illcome will be received. Defevred incoDie Income is only defeed and included in creditors wh¢n: - TILe income relates to a fvtUTe o¢COUrttin8 period - A sales invoice has bcen raised ah¢ad of the work being carri¢d out and there 18 no Colltractual ¢ntitlemeThl to the inaomg uutil the work has been done Not dll th¢ lernis and condilions of the grant bavo b¢¢n met, including the incurring of expenditure and tbe grant Ollditions are such Ibat unspcnt grant be refvndcd Earnedlncoiiie Bamed income is measured at the fair value of the considerdlion reccived or receivable for services and goods supplied, nct of discouats. Expenditure and Irrecoverable VAT Exponditure is recognised once ther¢ is A legal or constrnclive obligation to m8kc a p&ym¢nl lo a Itllrd purtyi It is probable that Ihc 8ettlcment will be reqUId 8nd the amount of Ihc obligAlion can be measwed reliRbly, Raisliigfunds Cost of raising funds include5 thos¢ a88ocialed with fundraising activities. managing inveslments and commercial trading by the subsidiary company. Charl(oble aerfviiles ChArilable activities Includes costs of UDd¢rthking the work of the ¢h8rily. The charity is not tcgistered for VAT alld is unabl¢ to recover input t8x. Costs stat¢d inclusive of VAT wli¢re cliarged. Support costs Support costs arc thosc nlionS which assist the work of the charity either by supporting the delivery of charitable activities or by supporting the generation of tunds. Taxatlon Lharity is considered to P8SS the le5ts sct out in Paragraph I Schcdule 6 of thc Finance Act 2010 hnd thereforc it meets the definition of a charitable company for UK corporation tax purposes. Accotylillgly, the charity is potentially exempt from taxation in respect of income or capital gain5 r¢c¢iv¢d wiihiTh catcgories co[Ca by Chapter 3 Port 1 l of the Coq)oration Tax Ac12010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the exlent that such ineome or gai]LS arc applied eXcI8)Vely to charitable purposes. Page 12
Proud & Loud Arts Notes to the Financial Statements for the Year Ended 31 March 2024 Tanglble flxed a%se¢s bLvididuul fixed assets costing less tIwL £500 aThd not fornling p&rt of a series of relatcd pur¢hos¢s are not capitalised, bul aTe written off as revenue ¢xpenditure in the year of acqui5il1o. Depreclation and amorlisition Depreciation is provided on tangible fixed assets so as to wrilc off the cost or valuation, le8s any cstimated residual valué over theiT expected usefvl economic life as follows- Asset ¢l&s$ Offi¢¢ Equipment Depreclalion methDd and rate 2/• pa straightlinc Ti'ade debtors Trade and other debtors are Tecognised at the settlement amount due and prepayments are valued at tho amoun¢ prepaid. CAAh And CAsh equlvalent5 Cash and cash equivalcnls Comprise cash on hand and call dq)osils, and other short-l¢rn highly liquid inyestmvnls Ibal are readily COllV¢rtible to a known amount of c&8h and are subject to an insignificanl Tisk of change in value. Trade credltors 8Dd provl$lons Crcdilors ond provisions are recogDised where thc charity hAs a present obligation resulting from a past event Ihul will i)robably result in the transfcr of funds to a Ihird pgrty and the allUnt due to settle tbe obligation c8n bc mea$uT¢d or uliD1Ated reliably. Creditors and provisions 8r¢ nornially recogniscd at their settletnenl amount. Fiind structure Unrestricled income funds are genoral fifftd8 that are available for use al the Tnwlees discretion in fvrtherance of the objeclives of the Chaiity. Restricted ittconK fullds ore those donAted for use in a particuIar arc8 or for specific PUfPDses, tlie use of which is reslrictcd to that area or PUqM)se. Fknuneial lllstruments ClasslJ7catioii The charity has only basic finala1 instrumenls whi¢h inilially recorded al cos( subsequently mea¥ured al Ihcir sciilcjnent value Page 13
Proud & Loud Arts Notes to the Financial Statements for thc Year Ended 31 March 2024 3 Inconle from donatlons alld leg¥ci¢5 Unrestricted funds General Restricted funds Totsl 2024 Tolal 2023 Donation5 and lega¢ies' Membership fees Genei'al donations Grants. Grants recelved 13,339 19,436 753 980 14.092 20,416 15.989 583 200,(M)O 200,000 232,775 1.733 234,508 16,572 4 Income from charlt4ble 4Ctlvltles Unrestricted funds Gelleral Reslrlcted runds Total 2024 Accessible pathways ACE ACE- NLPG Makaton NPO Yr 123124 Staring ATW 12,447 4.416 5,000 12,447 4,416 5,000 13,469 2.097 13,469 2,097 13,469 23,960 37,429 Unrestricted funds General Re$trleted funds Total 2023 Acce85ible pathwdys ACE National tA)ttcry A4A Charitable Trust ACE- NLPG Staring ATW ACB WBA- F.SF 2 Eurned lllcome 5,716 2,205 9,920 2,197 42,525 5,945 3,546 7,921 9,920 2,197 42,525 5,945 3,546 3,187 3,187 8,903 66,338 75.241 Page 14
Proud & Loud Arts Notes to the Financial Statements for the Year Ended 31 March 2024 5 Inve5ttnent illcome Unrestricted funds Celleral Totgl 2024 TotAI 2023 Other investment income 281 281 6 Ezpenditur¢ on ¢hArltAble activities Unrestrleted funds General Restrlcted funds TotAI 2024 Creative freelattee fees Access frcelaDce fees Other fees Other project costs Travel and 8ub51sl¢n¢e Marketing promolion Adu]inistralion fees Offi¢e eosls Accountallcy and l¢gal fees Depreciation Charged to re$tricled fijnds St&ff costs 13,163 28,215 32,960 7,215 10,919 240 2,409 15.046 6,109 2,182 (54,445) 135,590 13,163 28,215 32,960 7.215 10.919 240 2,409 15,(M6 6,109 2,182 54,445 135,590 254.048 199.603 54,445 Page 15
Proud & ud Arts Notes to the Fiinancial Statements for the Year Ended 31 March 2024 Unre5trlcted RestrEcted funds GenerAI 2023 Creative freelance fees Aece&'s freelance fees Other fees Other project costs Tr&vcl und subsistence Markeliiig and promotion Administration fees Office cos18 Accountancy legal f¢¢s Depreciation Cbgrgcd to restricted funds 43.904 15,349 17,6 15.225 .168 ,690 1,685 32,834 1,265 1,967 94.204 43.904 15.349 17,600 15,225 1,168 1,690 1,685 32,834 1,265 1,967 94,204 38,483 94,204 132.687 7 Net IDcomingloutgolng resource8 Net incominty(oulgoing) resources for the yr include.. 2024 2023 Other non-audit services Depreciation of fixed as8¢ts 6,109 2,183 1,265 8 Trustees remuner4tlon and exp¢nses No Truste, nor aThy persons connected with them, have re¢¢iv¢d &rty remuneration from the Charily during the year. No Iru81ees have receivcd any reimbursed expenses or any other benefits from the charity during the year. 9 Staff costs The aggregate payroll costs were as follows: 2024 StAff eosty during the yehr were: W&ges at]d salarics Social security costs Pension costs 117,415 6,915 5,768 130,098 Page 16
Proud & Loud Arts Notes to the Financial Statements for the Year Ended 31 March 2024 Thc monthly Jverage number of persons (includillg scnior munagement I leadership tearn) employcd by the Charity dlg the year expressed as full tim¢ cquivalents was as follow8: 2024 2023 Adminstration No ¢mploycc T¢ccived emoluments of more than £60.000 during th¢ year. The total cmployee b¢nefjts of the k¢y management personn¢l of the Charity wcr¢ £48,000 (2023 - £Nil). 10 Independent ex8miD¢r J r¢Jllun¢ratloM 2024 2023 Exarnination of the Financial Sialemenis Othcr fee$ paid lo examiners 1,750 2,125 600 665 3,875 l.265 Page 17
Proud & IA>ud Arts Notes to the Ilinaneial Statements for the Year Ended 31 March 2024 11 Taxgtion The Charity is exempt from tax on income and gains fhlling within Seclton 505 ofilie Taxes Act 1988 or seclion 252 of thc Taxation of CharEeHbl¢ gains Act 1992 to the extent that these ore applied to ils charitable objects. 12 T4ngiblc fixed Rsseti Computer equipnient Total Cost At l April 2023 10.915 10,915 At 31 Mai'ch 2024 10,915 10,915 Depreclgtlon At l April 2023 Charge for the ycar 3.929 2.182 3,929 2,182 At 31 March 2024 6.111 6,111 Net book value At 31 Mar¢b 2024 4.804 4.804 At 31 March 2023 6,986 6,986 13 Debtors 2024 2023 Trade debtors 1,260 2,336 14 Credltors: amount$ fAlllng due vlthln ome year 2024 2023 Trade creditors Olber taxatioll and sooial security Oihcr croditors Accivals 450 2,533 450 1.940 4,650 7,633 2,390 Pag¢ 18
Proud & Loud Arts Notes to the Vinancial Statements for the Year Ended 31 March 2024 IS Fulld5 Balance at I Aprll 2023 Incoming resources ROurceS expciided BalAnce at 31 Mareh 2024 Unres¢rtcted funds Geiieral Gen¢ral fvnds 24,502 246524 (199.603) 71.423 Restrlcted fund8 Acce&qiblc Pr4thways A4A21 Spar¢d S'taring ATW ACE- Tate ACB - NLPG Makaton 14,180 (7,108) (3,442) 7,072 3,442 4,126 1,800 1,676 42.525 4,126 2,097 (3,897) (1.676) {38,322) 4.417 5,(K)O 8,620 5,000 Total i'estrfct¢d funds 53,569 25.694 54.445 24.818 Total funds 78.071 272.218 254,048 96,241 The 8peeifie purpose for whl¢h the fund8 are to be Applled are as follo)vs: Accesslble Pathways: R¢tDaindcr of an NLPG grnnt from Art8 councAI England to increase oppor¢unitie5 for new, emerging & skilled disabled arti81s. Spllecd.. Funds held in trust for Artist Michael Gleave ACE NLPG.. Thc ¢od¢ for this should be "Jusl Revolt'y Remainder of an NLPG grant from Arts ¢owicil England io Support the creative development of our Ihcatrc enscmble. Makaton: Grnnt awarded from The Thornas Wall Trust for the development of Makaton across thc orgAnisalio]J 202412025. Page 19
Proud & Loud Arts Notes to the Fillancial Statements for the Year Ended 31 March 2024 BAlance at 31 MAreh 2023 Balance at I April 2022 Imcoming resources Resources expeDded Transfers Unrestrlcted funds Geiieral GLneral fjJnd8 39,439 25.473 (38,481) (1,929) 24,502 Restrlcted Acccssiblc Pathways A4A 21 Spaced Staring ATW ACE- Tale ACE- NLPG Forever Mauth¢stw- training WEA-ESF2 63,815 3,608 2,205 9,920 2.197 (66,020) (10,086) 3,442 4,126 1,800 1,676 42,525 .929 11,049 (9,249) (4,269) 5,945 42,525 1,034 (1.034) 3.546 3.546 Total re$trieted funds 79,506 66,338 94,204 1,929 53,569 Total funds 118,945 91,811 132,685 78,071 16 ADilysi% of net Assets between fund8 Unre$tri¢ted fllnd. General Total funds at 31 March 2024 Restricted ruttds Tangible fixed asse18 Currcnt assets Current liabilitie5 4,804 74,252 7,633 4,804 99.070 7,633 24,818 Total net assets 71.423 24,818 96,241 Unrestrieted funds Gener41 Total funds At 31 Mai'Lh 2023 Re%tricted funds Tangible fixed assets Current assets Currcnt liabilities 6,986 19,906 2.390 6,986 73,475 2,390 53,569 Total net assets 24.502 53,569 78.071 17 Related pirty transxctlons There were no relalcd party transactions in the year. PaB¢ 20