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← Trinity Community Arts

2024-03-31-accounts

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

Registered in England & Wales, No. 04372577 Registered Charity No. 1144770

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Annual Report and Financial Statements for the year ended 31 March 2024

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED
(A COMPANY LIMITED BY GUARANTEE)
Annual Report and Financial Statements
for the year ended 31 March 2024
CONTENTS Page
Reference and Administrative Details of the Charity 3
Trustees' Report 4-16
Independent Auditors' Report to the
Trustees of Trinity Community Arts Limited 17-19
Consolidated Statement of Financial Activities 20
Consolidated Statement of Financial Position 21
Consolidated Statement of Cash Flows 22
Notes to the Financial Statements 23-38

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Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024

Trustees Chris Luffingham
Alex Bradley
Fidel Meraz
Khan Talbert Johnson
Samia Saidi (appointed 17 Oct 2023)
Paula Orrell (appointed 03 January 2024)
Dr Glyn Everett (resigned 17 October 2023, appointed 30 July 2024)
Mijanou Blech (resigned 17 October 2023)
Helen Ashley (resigned 31 May 2023)
Nir Paldi (resigned 15 June 2023)
Helen Duffy (resigned 09 March 2024)
Claire McAlpine (resigned 06 February 2024)
Natasha Nanuk (resigned 04 February 2024)
Company registered
number 04372577
Charity registered
number 1144770
Registered office The Trinity Centre
Trinity Road
Bristol
BS2 0NW
Company secretary Jenna Graves, Finance Manager (resigned 31 May 2023)
Sarah Bentley, Development and Communications Manager
(appointed 03 July 2023)
Principal staff Emma Harvey, CEO
Adam Gallacher, Deputy CEO
Jamell Ackford, Director of Culture
Independent auditors Burnside
Chartered Accountants
61 Queen Square
Bristol
BS1 4JZ
Principal bankers Triodos Bank
Deanery Road
Bristol
BS1 5AS

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Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

The Trustees present their annual report together with the consolidated financial statements and auditors’ report of the Charity and its subsidiary for the year ended 31/03/2024 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective January 2019).

Chair’s Report

I was honoured to assume the role of Chair of Trustees this past year, a period marked by significant strides toward fulfilling our commitment to fostering artistic and cultural opportunities for all in Bristol.

We've prioritised co-creation, actively engaging with local communities. This resulted in a vibrant day-long celebration of Caribbean and Black British culture in December attracting over 275 attendees and showcasing the talents of 17 local artisans and small business owners. Similarly, we partnered with All Ah Wi to deliver impactful workshops and performances during International Women's Day.

Our commitment to accessibility has taken root with the expansion of our free/subsidised hire scheme. This year, we welcomed three new groups and grassroots organisations who utilise Trinity's spaces to deliver essential services to under-represented communities. These groups have provided crucial support to over 456 individuals and includes partnerships with organisations like Aid Box, who offer vital services to refugees and asylum seekers.

The team have been dedicated to working collaboratively with key stakeholders to develop a yearround programme for Children and Young People (CYP), providing a creative curriculum to children attending local schools, including our free after-school programme for children in Trinity's local area and a schools-based dance program co-created with the award-winning dance charity, Movema.

Trinity Presents continued to deliver a rich and diverse programme throughout the year, featuring a broad spectrum of bands and DJs. Highlights included Grammy-nominated reggae artist Kabaka Pyramid, supported by Bristol's own Sacha Steppa, and the legendary UK artist Donae'o, all in partnership with local promoter Peachin'.

Themes of social justice and amplifying unheard voices resonated throughout our combined arts programme. For example, Trinity former artist-in-residence Akeim Toussaint Buck’s powerful

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TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

Chair’s report (continued)

example "Souls and Cells," explored themes of heritage and connection through movement and dance and well as "Duppy Hunter," a performance created in partnership with Tamasha Theatre that was inspired by the stories shared by St. Paul's residents during workshops, culminating in an immersive audio walk.

Our strategic partnerships with locally rooted grassroots organisations and community partners have furthered our commitment to increase civic participation and enable access to creativity and culture. Building upon our "100 Beacons" report we launched the "Roots of Resilience" manifesto paving the way for a more equitable Community Asset Transfer process and advocating for the retention of community infrastructure.

We delivered the development phase of the groundbreaking Citizens Assembly for Culture Project, a collaboration with St Pauls Carnival, Citizens in Power, and the West of England Combined Authority, that will empower citizens from the Southwest region to collectively advise on what a relevant cultural offer may look like for the region.

We've also focused on strengthening our business resilience, increasing capacity to strengthen our fundraising and explore new enterprise initiatives. Our investment in solar power has produced 20,000 kWh of renewable energy reducing our reliance on energy produced by the grid by 60%.

We capitalised on our profile, experience and expertise to launch a community-backed campaign to raise funds for the repair, restoration, and reopening of the former Dance Centre, Jacobs Wells. We secured a grant from the Department for Levelling Up, Housing and Communities' (DLUHC) Community Ownership Fund. This grant, coupled with the generosity of local funders and individual donations, creates a positive future for the restoration plans of this beloved community asset.

Looking ahead, we will continue to build upon these successes and continue fostering a vibrant and inclusive culture sector in Bristol. We remain committed to securing sustainable funding to support our long-term vision.

Chris Luffingham, Chair of Trustees

(cls by:

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TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

Charity Objects

The Charity’s core objects, as set out in its Memorandum of Association, are:

Aims and Objectives

Aims & Objectives 2023-26

1. Optimising social impact:

2. Inclusive workforce:

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TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

Aims & Objectives 2023-26 (continued)

3. Resilience and sustainability:

Public Benefit Statement

The Trustees have reviewed the activities of the Charity in the light of the guidance published by the Charity Commission on public benefit. The Trustees are satisfied that the Trust’s activities are for the public benefit, relating as they do to the charity's arts, community, education and heritage charitable objects, outlined above. This benefits the community by providing access to free and affordable space and activities, to take part, socialise, develop skills and confidence, improve well-being and be inspired by arts.

Social Impact

The criteria the Charity uses to assess impact in the reporting period were:

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Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

Key numbers for 2023/24

In 2023-24, we welcomed 70,353 people who took part in a diverse programme of 1,180 events and individual activities:

Activities

In 2023/24, we created opportunities for communities to shape and participate in arts and culture programming.

Building on our commitment to co-creation, we used the arts to foster civic participation throughout the year. We collaborated with a network of local partners, including: Community Anchor organisations: Windmill Hill City Farm, St Paul's Carnival, Eastside Community Trust and educational settings: primary schools and early years settings.

Through our arts engagement programme, we appointed an Arts Engagement Manager who has developed a community-led approach, co-creating activities that are relevant and responsive. Leveraging learnings from our 2022 community consultation, this work has laid the foundation for the rollout of three Community Connector roles. These connectors have been embedded in neighbourhoods and communities local to the centre from April 2024.

Continued support from the Nisbet Trust and the Coutts Foundation has enabled us to build a lasting partnership with three local primary schools and create a year-round programme of activities for Children and Young People. We strengthened our school based offering with a free-to-access cultural curriculum for children aged 5-11 years and offered much-needed free after-school provision.

As part of our commitment to a sustainable business model, we introduced a ticket levy for live music and club nights. This dedicated fund supports critical building works to protect and maintain

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Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

Activities (continued)

the Trinity Centre, a Grade II* Listed building and its grounds. Additionally, we are developing ways to support and create a sustainable, locally rooted music economy in Bristol by programming artists

at external Bristol venues. This initiative aligns with our vision to create a Grassroots venue touring network across the South-West, providing valuable performance opportunities for emerging and under-represented artists.

We commissioned Buro Happold, a world-class global practice of engineers, designers, and advisers, to review and update Trinity's 2014 Green Audit. The report outlined short, medium, and long-term milestones to achieve net zero by 2029, the year before Bristol's citywide pledge and the 200th anniversary of Holy Trinity Church . The plan includes behavioural shifts, as well as solutions to harvest and offset the carbon we use and generate.

Backed by stakeholders including the Hotwells & Cliftonwood Community Association, artists, and local councillors, we secured a conditional Community Asset Transfer and a temporary license to occupy the Jacobs Wells building. Funding from Historic England allowed us to undertake emergency repairs that address water ingress and damage caused by the building's vacancy. Alongside this, we secured a £1,050,000 grant from the Department for Levelling Up, Housing and Communities' (DLUHC) Community Ownership Fund. This grant, along with over £400,000 pledged by local funders (Nisbet Trust, John James Foundation) and individual donations through a Fundsurfer appeal, has laid the foundation for the commencement of a phased scheme of works.

These activities contribute to the achievement of the Charity’s aims and objectives by:

Our Volunteers

The Charity is very involved in the community and relies on voluntary help, with 26 Volunteers for the period for both one-off and ongoing support.

Trinity’s community garden is open to the public, proving a space for quiet contemplation, social time and a range of multi-generational activities. 10 volunteers support garden maintenance at fortnightly sessions, overseen by our garden facilitator.

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Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

Volunteers also support one-off events including Trinity’s summer Garden Parties, Christmas Festus market, and neighbourhood-based activities including Newtown Street Party. Roles include Stewarding, workshop facilitation support and general event support.

Financial Review

Our trading subsidiary, TCE has maintained turnover of £816k. While this reflects a reduction in activity due to inflation, we have been able to expand margins to increase TCE’s contribution from £339 to £357k.

As with many charities, this has been a difficult year with both the cost-of-living problems and pressures on grant makers, particularly national and local government funds. Our fundraising efforts have, nevertheless, been particularly successful in raising funds to support our charitable activity – increasing from £459k to £743k.

In 23/24, we have begun, in conjunction with other partners, the refurbishment of Jacob Wells Baths. Funds associated with this activity are shown in Restricted Funds.

Charities locally have found difficulties in recruiting suitable finance staff and we are grateful for the continuing support of Magic Bean Counters, Chartered Certified Accountants, to prepare Management Accounts and our other pro bono accounting support.

Unrestricted expenditure during the period decreased by £109k, while designated and restricted fund expenses increased by £80k. This change reflects an increase in programme staffing covered by grant funding. Other notable variances include a reduction in purchases related to bar costs, which fell by nearly £38k, reflecting the reported decline in bar activity, and an increase in professional fees, including those associated with Jacob Wells Baths.

We are working to strengthen the finance operation function and recruit further financial members of the board in 24/25.

Going Concern

The Trustees have reviewed the circumstances of the Charity and group and consider that adequate resources continue to be available to fund the activities of the Charity and group for the foreseeable future. The Trustees are of the view that the Charity and group is a going concern.

Future Plans

  1. Optimising social impact: In September 2024 we launched the ‘Cultural Alliance’, a two-year tailored arts-based learning programme delivered in partnership with three inner-city schools.

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Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

Future Plans (continued)

Creativity in Old Market: We have secured funding through Bristol City Council to deliver free culture activities in Old Market. We will build on our reputation producing high quality arts activities by codesigning an exciting and meaningful programme in partnership with our trusted local partners.

Citizens Assembly: We will deliver a Citizens Assembly for culture in the West of England Combined Authority region. This groundbreaking initiate if the first of its kind in the area and will put power into the hands of citizens, shaping a relevant cultural offer.

  1. Inclusive workforce:

Empowerment: We will continue to identify tools to further our commitment to democratic design and decision making within the organisation, including embedding the Advice Process – a collaborative decision-making framework.

CPD: In partnership with MUTI Live, we will deliver a structured programme for Middle Management and Function roles. The learning and development programme has been designed in consultation with staff and specifically focuses on identified workplace competencies: Adaptability, Collaboration, Communication, Problem solving and Leadership.

Access: We will honour our on-going commitment to provide entry and progression routes, appointing two Apprentice roles, offering a robust volunteer programme and exploring an internship offer in collaboration with sector partners.

  1. Resistance and sustainability:

Trinity Presents: Building upon our work in 2023/24 we will be creating more opportunities to platform Bristol based creatives through programming artists at external, grassroots venues. These events are paving the way for our plans to launch a Grassroots touring network.

Website and Customer Relationship Manager (CRM): We will launch in late 2024 that will include a custom-made ticket system that will connect to our CRM. This will enable us to drive more ticket sales in-house and to capture customer data more efficiently. The website will seamlessly connect with our CRM software allowing for: increased efficiency, enhanced revenue management and deeper understanding of audiences.

Risk Management

TCA defines risk as any event or action that may adversely affect our ability to achieve our charitable objectives and execute our strategies. We have identified risks and classified them in terms of likely occurrence and the impact they might have on the organisation.

The Trustees have a risk management strategy which comprises of maintaining and reviewing a Risk Register. The Register reflects current Charity Commission recommendations (CC26) regarding the

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Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

Risk Management (continued)

format of Risk Registers, which have a 5-point scale for both impact and likelihood with the numbers multiplied to give a risk score.

The object of this method is to draw the attention of the Trustees to the seriousness with which the risks should be taken. An additional column shows the risk score after mitigating factors have been implemented.

The Trustees review risk through monthly executive meetings of the Chair, CEO, Dept CEO and Director of Culture, and quarterly Trustee meetings to ensure solvency and compliance.

The principal risks faced by the Charity as indicated on our Business Risks Register are:

Mitigation measures include:

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Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

Risk Management (continued)

Overall, the organisation has implemented various measures to mitigate the identified risks in each area and the Trustees are confident we have taken proactive steps to manage and address potential challenges facing us.

Structure, governance and management

Governing document

Trinity Community Arts Ltd is a company limited by guarantee, governed by its Memorandum and Articles of Association dated 21/11/2011. It is registered as a charity with the Charity Commission. Details of the Trustees who served throughout the year/period are included in the Reference and Administration Details on page 3.

Members’ liability

Each member of the Charitable Company undertakes to contribute to the assets of the Company in the event of it being wound up while he/she is a member, or within one year after he/she ceases to be a member, such amount as may be required, not exceeding £10, for the debts and liabilities contracted before they cease to be a member.

Method of recruitment and appointment or election of Trustees

As set out in the Articles of Association, the Chair of the Trustees is nominated and elected by the Trustees. New Trustees are appointed by existing Trustees and the Members of the charitable company and serve for a period of 3 years. The Memorandum and Articles provides a minimum of 3 Trustees, to a maximum of 12 Trustees, with no more than 1/3 Trustees due for re-appointment in any one year.

All Members are circulated with invitations to nominate Trustees prior to the AGM advising them of any retiring Trustees and requesting nominations for the AGM. When considering co-opting Trustees, the Board has regard to the requirement for any specialist skills needed, for example, Fundraising, Finance, Legal or Community knowledge.

When appointing new Trustees, the Board will give consideration to the skills and experience mix of existing Trustees in order to ensure that the Board has the necessary skills to contribute fully to the Charity's development. New Trustees may be sought by open advertisement or through existing Members.

The training and induction provided for new Trustees will depend upon their existing experience but would always include a tour of the Charity and a chance to meet all staff. All Trustees are provided with copies of policies, procedures, minutes, accounts, budgets, plans and documents that they will

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TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

need to undertake their role as Trustees. All Trustees are provided with copies of CC3 and CC8 guidance.

Organisational Structure

The Board of Trustees normally meets quarterly as a full board to cover statutory matters with meetings between to review specific tasks or work areas. The Board establishes an overall framework for the governance of the Charity and determines Membership, terms of reference and procedures of Committees and other groups. It receives reports including policies from its SubGroups for ratification. It monitors the activities of the Sub-Groups through the minutes of their meetings.

The Finance Sub-Group meets at least 4 times a year and is responsible for monitoring, evaluating and reviewing policy and performance in relation to financial management, compliance with

reporting and regulatory requirements and reporting. It also incorporates the role of an audit committee.

All Sub-Group decisions are subject to approval by the Board of Trustees, such as any proposals for changes to the status or constitution of the Charity and its structure, to appoint or remove the Chair, and/or to approve the Business Plan and budget.

The Trustees are responsible for setting general policy, adopting an annual plan and budget, approving the statutory accounts, monitoring Charity by the use of budgets and other data, and making major decisions about the direction of the Charity.

Key management personnel

The Board of Trustees has devolved responsibility for day-to-day management of the Charity to the key management personnel. The key management personnel comprise the CEO and Leadership Team which includes the Deputy CEO and Director of Culture. The key management personnel implement the policies laid down by the Trustees and report back to them on performance. Further details regarding key management personnel are disclosed in note 9.

Related Parties and other Connected Charities and Organisations

None of our Trustees receive remuneration or other benefit from their work with the Charity. Details of related parties are disclosed in note 18 of the notes to the financial statements.

The Charity has a wholly owned subsidiary, Trinity Community Enterprises Ltd. The purpose of the subsidiary is to deliver commercial activities that align with and fund the Charity’s activity. Details of the subsidiary are disclosed in note 8.

Trustees’ indemnities

As the Trustees are Directors, disclosure is required of whether there were any third-party indemnity provisions during the year or at the date of approval of the Trustees’ Report. The Directors/Trustees have indemnity against third-party claims to the value of £200,000.

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TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

Trustees’ Responsibilities Statement

The Trustees (who are also Directors of Trinity Community Arts Ltd 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 year. 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 charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company 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 charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Disclosure of Information to Auditors

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

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TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

TRUSTEES’ REPORT (CONTINUED) YEAR ENDED 31 MARCH 2024

Trustees’ Report, incorporating a strategic report, approved by order of the Board of Trustees, as the company Directors, on 11 October 2024 and signed on the Board’s behalf by:

Chris Luffingham, Chair of Trustees

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TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF TRINITY COMMUNITY ARTS LIMITED

Opinion

We have audited the financial statements of Trinity Community Arts Limited (the ‘parent charitable company’) and its subsidiary (the ‘group’) for the year ended 31 March 2024, which comprise the consolidated Statement of Financial Activities, the consolidated Balance Sheet, the charitable company Balance Sheet, the consolidated Statement of Cash flows and the notes to the financial statements. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

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:

An understanding of the legal and regulatory framework applicable to the charitable company was obtained from the management and the trustees of the charitable company. The audit team was confirmed to have the appropriate competence and capabilities to identify non-compliance with the framework. The audit plan considered the risk of irregularities, including fraud. An element of unpredictability was built into our sample selection for audit tests. The risk of fraud over income was mitigated to an acceptable level as most of the income is either trading income, grant income, or donations that are paid directly into the charitable group’s bank account. The trade income includes bar sales that are paid for by card via a card payment company using an electronic point of sales cloud based system. We agreed a risk-based sample of income to relevant documentation, performed understatement tests on income, and performed analytical procedures on income. The risk of misappropriation of the charitable company’s assets was considered and tests designed to meet any risks; the charitable company’s bank account balances were tested and confirmed to relevant documentation; and expenditure was tested for validity by substantive tests that included analytical procedures. Accounting estimates were considered as part of our audit work.

In our opinion the financial statements:

This report is made solely to the company's members, as a body, in accordance with Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditor's 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 parent charitable company and the parent company's members as a body, for our audit work, for this report, or for the opinions we have formed.

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TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF TRINITY COMMUNITY ARTS LIMITED (CONTINUED)

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 auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and the parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’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

We have nothing to report in respect of the following matters in which the ISAs (UK) require us to report to you where:

Other information

The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information. 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.

In connection with our audit of the financial statements, 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 audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. 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.

Opinions on other matters prescribed by the companies act 2006

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

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TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEES OF TRINITY COMMUNITY ARTS LIMITED (CONTINUED)

Matters on which we are required to report by exception

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

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 15, the trustees (who are also the directors of the parent 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 and directors 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 group’s and parent 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 group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s 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 auditor’s 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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 audit report.

[Bunside] |[S] Signed by:

STEPHEN BURNSIDE FCA (Senior Statutory Auditor)

For and on behalf of :

Burnside Chartered Accountants 61 Queen Square, Bristol, BS1 4JZ Date: 11/10/2024

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Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Consolidated statement of financial activities for the year ended 31 March 2024

Note General
Unrestricted
funds
Designated
funds
Restricted
funds
Total funds
2024
Total
funds
2023
£
£
£
£
£
Income and endowments from:
Donations, and legacies
4
Charitable activities
5
Raising funds - other trading activities
6
Investment income - interest
Other income
Total		 8,182
-
20
8,202
12,974
203,010
-
540,148
743,158
458,712
832,211
-
-
832,211
862,312
2,413
-
-
2,413
524
42,368
-
331
42,699
19,449
1,088,184
-
540,499
1,628,683
1,353,971
Expenditure on:
Raising funds – other trading activities
7
Charitable activities
7
Total
7		 469,120
-
-
469,120
468,490
639,821
26,534
355,507
1,021,862
1,041,598
1,108,941
26,534
355,507
1,490,982
1,510,088
Net Income / (expenditure) (20,757)
(26,534)
184,992
137,701
(156,117)
Transfers between funds (763)
8,534
(7,771)
-
-
Net movement in funds (21,520)
(18,000)
177,221
137,701
(156,117)
Reconciliation of funds:
Total funds brought forward as previously
stated
Prior year adjustment
20
Total funds brought forward as restated		 117,122
189,648
78,144
384,914
501,814
-
-
-
-
39,217
117,122
189,648
78,144
384,914
541,031
Total funds carried forward
16		 95,602
171,648
255,365
522,615
384,914

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

A comparative statement of financial activities is included in note 3.

20

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Consolidated and charity statement of financial position at 31 March 2024

Group Group Charity Charity
2024 2023 2024 2023
Note £ £ £ £
Fixed assets
Tangible assets 10 189,565 238,038 187,549 237,476
Investments 11 1,000 1,000 1,001 1,001
Total fixed assets 190,565 239,038 188,550 238,477
Current assets
Stocks 11,714 16,546 289 289
Debtors 12 116,740 130,702 29,273 53,968
Cash at bank and in hand 521,547 360,850 402,646 280,497
Total current assets 650,001 508,098 432,208 334,754
Liabilities
Creditors:
Amounts falling due within one year 13 (299,454) (335,154) (438,218) (503,468)
Net current assets/(liabilities) 350,547 172,944 (6,010) (168,714)
Creditors:
Amounts falling due after one year 14 (18,497) (27,068) (18,497) (27,068)
Total net assets/(liabilities) 522,615 384,914 164,043 42,695
The funds of the charity
Unrestricted funds – designated 16 171,648 189,648 171,648 189,648
Unrestricted funds – general 16 95,602 117,122 (262,970) (225,097)
Total unrestricted funds 267,250 306,770 (91,322) (35,449)
Restricted funds 15 255,365 78,144 255,365 78,144
Total funds 16 522,615 384,914 164,043 42,695

The notes on pages 23 to 38 form part of these accounts

These accounts were approved by the Board on 11/10/2024

____ Chair _____ Trustee 14916A0A993744F... 927BC4713D434AE...

CHRIS LUFFINGHAM

FIDEL MERAZ

21

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Consolidated cash flow statement for the year ended 31 March 2024

Note Note 2024
£		 Group
2024
£		 2023
£		 Group
2023
£
Cash flows from operating
activities:
Net cash provided by (used in)
operating activities		 176,918 83,941
Cash flows from investing
activities:
Purchase of:
Tangible fixed assets
10
Investments
11
Interest received on bank deposits
Net cash provided by (used in)
investing activities		 (10,547)
-
2,413

(8,134)		 (137,396)
(1,000)
524		 (137,872)
Cash flows from financing activities
Repayment of loans
Loan interest paid
Net cash provided by (used in)
financing activities		 (8,087)
-
(8,087)		 (7,928)
(1,048)		 (8,976)
Cash and cash equivalents
Increase / (decrease) in cash and cash
equivalents in year
160,697
Cash and cash equivalents b/f
360,850
Cash and cash equivalents at the end
of the reporting period
521,547
Reconciliation of net movement in funds to operating
for the year ended 31 March 2024		 160,697
360,850		 cash flow
2024
£		 (62,907)
423,757
521,547 360,850
2023
£
Net movement in funds 172,920 (156,117)
Adjustments for:
Depreciation charges – Fixed assets
(Increase) /decreasein stocks
(Increase) /decreasein debtors
Increase /(decrease) in creditors
Interest received and paid		 59,022
(872)
1,246
(52,985)
(2,413)		 64,277
3,838
240,729
(69,310)
524
Net cash provided by (used in) operating activities 176,918 83,941

22

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements

For the year ended 31 March 2024

1. GENERAL INFORMATION

Trinity Community Arts Limited is a company limited by guarantee and a charity registered at the Charity Commission in England and Wales. The principal address is The Trinity Centre, Trinity Road, Bristol, BS2 ONW.

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.

Trinity Community Arts Limited 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.

The Consolidated Statement of Financial Activities (SOFA) and Consolidated Statement of Financial Position consolidate the financial statements of the Charity and its subsidiary undertaking. The results of the subsidiary are consolidated on a line-by-line basis.

The Charity has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of Financial Activities in these financial statements.

The charity's functional and presentational currency is the pound sterling.

2.2 GOING CONCERN

The Trustees have reviewed the circumstances of the Charity and Group. They believe adequate resources will be available to fund the activities of the Charity and Group for the foreseeable future. The Trustees are of the view that the Charity and Group are going concerns on this basis.

The Trustees' assumptions and outlook assume that the current level of costs is sufficient to satisfy the current level of activity. They recognise that if the cost-of-living crisis results in a significant reduction in the level of trading, then necessary reductions in expenditure will be required.

The Trustees will continue to monitor cash flow on a 3 monthly basis. If necessary, monthly cash flow forecasts will be prepared and action taken. The Trustees have prepared a budget for the next 12 months from 31/08/2024 to support their going concern decision.

23

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued)

For the year ended 31 March 2024

2. ACCOUNTING POLICIES (continued)

The financial statements do not reflect the adjustments that would be necessary should the ability of the Charity and Group to carry out its charitable and trading activities be jeopardised due to a material issue with funding required in order to provide services to their beneficiaries and customers.

The Trustees acknowledge that the Charity and Group are subject to ongoing uncertainty upon future funding. However, the Trustees believe that under all reasonable assumptions of the future, the Charity and Group have sufficient funds to continue to operate and meet their liabilities as they fall due.

2.3 INCOME

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

Grants are included in the Consolidated 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 Statement of Financial Position.

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.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 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 on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

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

All expenditure is inclusive of irrecoverable VAT.

2.5 TAXATION

The Charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

24

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued)

For the year ended 31 March 2024

2. ACCOUNTING POLICIES (continued)

Accordingly, the Charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION

Tangible fixed assets costing £1,000 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. 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 basis:

2.7 INVESTMENTS

Fixed asset investments are initially recognised at their transaction cost and subsequently measured at fair value at the Statement of Financial Position date, unless the value cannot be measured reliably in which case it is measured at cost less impairment.

2.8 STOCKS

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

2.9 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.

2.10 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.

2.11 LIABILITIES AND PROVISIONS

Liabilities are recognised when there is an obligation at the Statement of Financial Position 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.

25

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued)

For the year ended 31 March 2024

2. ACCOUNTING POLICIES (continued)

Liabilities are recognised at the amount that the Charity 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.

2.12 FINANCIAL INSTRUMENTS

The Group 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.

2.13 PENSIONS

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

2.14 FUND ACCOUNTING

General unrestricted funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group 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 Group 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.

Investment income, gains and losses are allocated to the appropriate fund.

26

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued) For the year ended 31 March 2024

3. Prior year statement of financial activities

for the year ended 31 March 2023 for the year ended 31 March 2023 General
Unrestricted
Funds
Designated
funds
Restricted
funds
Total
funds
2023
£
£
£
£		 General
Unrestricted
Funds
Designated
funds
Restricted
funds
Total
funds
2023
£
£
£
£
Income and endowments from:
Donations and legacies
Charitable activities
Raising funds – other trading activities
Investment income - interest
Other income
Total		 12,974
-
-
12,974
132,773
-
325,939
458,712
862,312
-
-
862,312
524
-
-
524
19,449
-
-
19,449
1,028,032
-
325,939
1,353,971
Expenditure on:
Raising funds
Charitable activities
Total		 468,490
-
-
468,490
740,025
23,182
278,391
1,041,598
1,208,515
23,182
278,391
1,510,088
Net Income / (expenditure) (180,483)
(23,182)
47,548
(156,117)
Transfers between funds 34,292
133,448
(167,740)
-
Net movement in funds (146,191)
110,266
(120,192)
(156,117)
Reconciliation of funds:
Total funds brought forward
Prior year adjustment
Total funds brought forward as restated		 224,096
79,382
198,336
501,814
39,217
-
-
39,217
263,313
79,382
198,336
541,031
Total funds carried forward 117,122
189,648
78,144
384,914

27

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued) For the year ended 31 March 2024

4. Donations and legacies

Donations
Total		 General
Unrestricted
funds
Designated
funds
Restricted
funds
Total funds
2024
Total funds
2023
£
£
£
£
£
8,182
-
20
8,202
12,974
8,182
-
20
8,202
12,974

5. Charitable activities

5. Charitable activities
Grant funded
Community & Neighbourhoods
Children & Young People
Citizens Assembly
Capital and Building
Core Unrestricted Funding
Business Development
Jacob Wells Bath
Million Hours Fund
Nature Play
Education
Room hire		 General
Unrestricted
Funds
Designated
funds
Restricted
funds
Total funds
2024
Total funds
2023
£
£
£
£
£
-
-
67,026
67,026
174,030
-
-
104,820
104,820
86,143
-
-
21,300
21,300
10,000
-
-
4,747
4,747
55,766
139,944
-
-
139,944
99,313
-
-
106,280
106,280
-
-
-
200,948
200,948
-
-
-
9,900
9,900
-
-
-
22,227
22,227
-
6,720
-
2,900
9,620
11,882
56,346
-
-
56,346
21,578
203,010
-
540,148
743,158
458,712

6. Raising funds - Other trading income

6. Raising funds - Other trading
income
Events
Profit Trinity Community Enterprises Limited
Other
Total		 General
Unrestricted
Funds
Designated
funds
Restricted
funds
Total funds
2024
Total funds
2023
£
£
£
£
£
46,273
-
-
46,273
54,598
785,938
785,938
807,714
-
-
-
-
-
832,211
-
-
832,211
862,312

28

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued) For the year ended 31 March 2024

7. Summary analysis of expenditure

Staff costs
Sub-contractors
Purchases
Licences & commissions
Cleaning & waste disposal
Project costs
Marketing & advertising
Repairs & renewals
Equipment rental
Light & heat
Travel
Insurance
Professional fees
Depreciation
Admin and office costs
Computer & IT costs
Rates
Bank charges
Accountancy & audit
Irrecoverable VAT
Interest
Bad debts
Tax
Subtotal
Reallocate Governance
Total*		 Trinity
Community
Enterprises Ltd
Raising
funds –
General
Charitable
activities
Governance
Total funds
2024
Total funds
2023
£
£
£
£
£
£
146,542
-
518,787
-
665,329
659,290
121,781
-
121,123
-
242,904
310,531
148,000
-
204
-
148,204
180,131
17,177
-
103
-
17,280
6,034
-
-
50,064
-
50,064
48,875
-
-
476
-
476
4,920
308
-
28,233
-
28,541
21,320
2,520
-
36,147
-
38,667
44,319
8,932
-
10,988
-
19,920
25,751
-
-
30,369
-
30,369
35,558
736
-
1,617
-
2,353
5,315
-
-
18,126
-
18,126
14,994
1,310
-
91,987
-
93,297
8,257
562
-
58,460
-
59,022
64,277
5,650
-
23,476
-
29,126
20,381
-
-
13,753
-
13,753
22,461
-
-
5,829
-
5,829
3,875
10,947
-
1,286
-
12,233
18,401
-
-
-
13,213
13,213
12,997
-
-
721
-
721
1,353
-
-
-
-
-
1,048
1,555
-
-
-
1,555
-
-
-
-
-
-
-
466,020
1,011,749
13,213
1,490,982
1,510,088
3,100
-
10,113
(13,213)
-
-
469,120
-
1,021,862
-
1,490,982
1,510,088
Total resources are stated after charging: Total funds
2024		 Total
funds
2023
Auditors’ remuneration £ £
– Audit 13,213 9,997
– Other services including tax advisory - 3,000
Depreciation – tangible fixed assets 59,022 64,277

*Professional fees – Increase due to Jacob Wells Baths fees, payroll provision from Cox & Co, and Management Accounts and bookkeeping support during a period of department recruitment and transition.

29

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued) For the year ended 31 March 2024

7. Summary of analysis of
expenditure – charitable activities
Community & Neighbourhoods
Children & Young People
Capital and Building
Artists Development
Citizens Assembly
Fidelity Foundation
Jacob Wells Bath
Million Hours Fund
Nature Play
Total		 General
Unrestricted
Funds
Designated
funds
Restricted
funds
Total funds
2024
Total funds
2023
£
£
£
£
£
145,277
-
77,506
222,783
496,651
113,630
-
60,622
174,253
202,148
7,759
26,534
18,296
52,589
275,504
38,008
-
20,277
58,285
32,081
8,133
-
4,339
12,472
35,214
98,925
-
52,778
151,703
-
164,399
-
87,709
252,108
-
15,133
-
8,074
23,207
-
48,556
-
25,906
74,462
-
639,821
26,534
355,507
1,021,862
1,041,598

30

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued) For the year ended 31 March 2024

8. Trading subsidiaries

The Trust is the beneficial owner of shares in one wholly owned subsidiary, Trinity Community Enterprises Limited, a company incorporated in the UK. The Trust did not expend any funds in obtaining these interests.

Trinity Community Enterprises Limited

The purpose of the subsidiary is to run private and public music events at the Trinity Centre. The company operates a bar during events.

A summary of the results for Trinity Community Enterprises Limited (before the consolidation adjustments that have been made to the figures in the SOFA) is shown below:

Profit and loss account 2024 2023
for the year ended 31 March 2024 £ £
Turnover 816,093 807,715
Cost of sales (273,111) (311,369)
Gross profit 542,982 496,346
Overheads and administration (196,008) (177,621)
Other operating income 8,563 20,499
Operating (loss)/profit 355,537 339,224
Interest received - -
Interest payable and similar charges - -
(Loss)/profit before taxation 355,537 339,224
Tax on profit - -
(Loss)/profit for the year 355,537 339,224
Balance sheet 2024 2023
at 31 March 2024 £ £
Fixed assets 2,016 563
Net current assets 356,557 341,659
Total assets less current liabilities 358,573 342,222
Creditors falling due after more than one year - -
Total 358,573 342,222
Capital and reserves
Called-up equity share capital 1 1
Profit and loss account 358,572 342,221
Total 358,573 342,222

There are legal contracts in place between Trinity Community Arts Limited and Trinity Community Enterprises Ltd:

The Trinity Community Arts Limited for the year ended 31 March 2024 includes the consolidation of our subsidiary, Trinity Community Enterprises Limited.

31

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued) For the year ended 31 March 2024

9. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management
personnel		 9. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management
personnel		 9. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management
personnel
2024 2023
Group £ £
Wages and salaries 589,617 596,303
Employers’ national insurance 44,048 35,538
Pension costs 31,664 27,448
665,329 659,290

The trustees were not paid, nor did they receive any other benefits from the charity or its subsidiaries in the year (£nil in 2023). A few trustees have claimed expenses of £319.36 for development courses and background checks during the year (£nil in 2023).

The key management personnel comprise the Senior Leadership Team. The total employee benefits of the key management personnel of the Trust were £138,077 (£115,619 in 2022/23).

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

The average number of employees in the Group was:

Total 2024
2023
38
55

32

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued) For the year ended 31 March 2024

10. Tangible fixed 10. Tangible fixed
assets
Furniture & Office Event
Studio		 Property
fittings equipt. equipt.
equipt.		 impr. Total
£ £ £
£		 £ £
Group
Cost
At 1 April 2023 72,701 18,027 147,251
2,959		 538,104 779,042
Additions - - 5,518
-		 5,029 10,547
At 31 March
2024 72,701 18,027 152,769
2,959		 543,133 789,589
Depreciation
At 1 April 2023 55,939 13,132 124,838
2,959		 344,136 541,004
Charge for year 4,509 1,322 7,070
-		 46,119 59,020
At 31 March
2024 60,448 14,454 131,908
2,959		 390,255 600,024
Net book value
At 31 March
2024 12,252 3,573 20,862
-		 152,878 189,565
At 31 March
2023 16,762 4,895 22,414
-		 193,968 238,038
Charity
Cost
At 1 April 2023 72,701 18,027 142,105
2,959		 538,104 773,896
Additions - - 3,504
-		 5,029 8,533
At 31 March
2024 72,701 18,027 145,609
2,959		 543,133 782,429
Depreciation
At 1 April 2023 55,939 13,132 120,254
2,959		 344,136 536,420
Charge for year 4,509 1,322 6,509
-		 46,119 58,459
At 31 March
2024 60,448 14,454 126,763
2,959		 390,255 594,879
Net book value
At 31 March
2024 12,252 3573 18,846
-		 152,878 187,549
At 31 March
2023 16,762 4,895 21,851
-		 193,968 237,476

33

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued)

For the year ended 31 March 2024

11. Fixed assets – Investments

Subsidiaries

During the year and in the previous the Charity was the beneficial owner of shares in one wholly owned trading subsidiary, Trinity Community Enterprises Limited. The cost of the investment is £1.

Registered Societies

The charity has invested £1,000 in a Registered Society, Stokes Croft Land Trust.

12. Debtors – amounts falling due within one year

12. Debtors – amounts falling due within one year
Trade debtors
Amounts owed to group undertakings
Other debtors
Prepayments and accrued income		 Group
Group
Charity
Charity
2024
2023
2024
2023
£
£
£
£
65,716
84,912
20,621
14,824
-
-
-
-
25,058
6,646
2,319
-
25,966
39,144
6,333
39,144
116,740
130,702
29,273
53,968

13. Creditors – amounts falling due within one year

Bank loans
Trade creditors
Amounts owed to group companies
Accruals and deferred income
Other taxation and national insurance
Other creditors		 Group
Group
Charity
Charity
2024
2023
2024
2023
£
£
£
£
10,183
9,699
10,183
9,699
55,334
85,205
24,467
58,430
-
-
292,046
348,408
206,766
200,969
91,945
58,778
12,888
26,105
10,119
21,285
14,283
13,176
9,458
6,868
299,454
335,154
438,218
503,468

14. Creditors – amounts falling due after one year

Group Group Charity Charity
2024 2023 2024 2023
£ £ £ £
Bank loans 18,497 27,068 18,497 27,068

34

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued) For the year ended 31 March 2024

15. Restricted funds
Group and
Charity		 1 Apr Incoming Resources 31 Mar
2023 Resources Expended Transfers 2024
£ £ £ £ £
Community &
Neighbourhood
Community
Garden Adult		 1,400 - (998) (402) -
Bristol Thriving
Communities		 500 - (1,500) 1,000 -
Art of
Resistance		 - 2,259 (267) (1,992) -
East Side Bristol
Impact Fund		 56 17,075 (13,174) - 3,957
Fun Palaces - 16,011 (15,166) - 845
Westport Grant 6,570 - (5,747) (823) -
TechMakers 20,000 20,000 (20,598) - 19,402
Social Impact
Programme		 339 - (339) - -
A4A Windrush - 9,512 (9,382) (130) -
Community &
Neighbourhood		 - 2,500 (2,500) - -
Merchants - - (7,774) 7,774 -
Gentle Dance - - (400) 400 -
Children &
Young People
Children and
Young People 32,560 49,823 (42,408) (13,423) 26,552
Music
Children in Need 6,313 800 (1,124) (5,990) -
WeMove 2,107 44,736 (11,988) - 34,855
Nimbus - 12,361 (5,103) - 7,258
Capital &
Buidings
Solar Funds 1,449 (2,753) (10,012) 11,316 -
Music Venture
Trust		 4,030 - (4,000) (30) -
Gibbs Trust 2,000 - (2,000) - -
Pilgrim - 5,000 (7,765) 2,765 -
Capital 2023/24 - 2,500 (500) (2,000) -
Citizens
Assembly
West of England
Combined 820 21,300 (18,296) (2,370) 1,454
Authority
Fidelity
Foundation		 - 106,280 (52,778) - 53,502
Jacob Wells
Bath		 - 200,968 (87,709) (6,445) 106,814
Nature Play - 22,227 (25,906) 3,679 -
Million Hours
Fund		 - 9,900 (8,074) (1,100) 726
Total 78,144 540,499 (355,507) (7,771) 255,365

35

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued) For the year ended 31 March 2024

The purpose of each fund is as follows:

Art of Resistance: Three-year project exploring 100 years of social activism, protest and civil disobedience in Bristol and the art that underpinned each movement. The project explored how key movements and their messages have been amplified by different art forms such as poetry, textiles, posters, banners, music and performing arts. The people we met and stories we uncovered were celebrated in a book and new digital archive hosted by Trinity.

Capital grants: Works included installing a new Solar PV installation and essential works to Trinity's existing system that has been out of service since 2017. We completed external works and opened The Den April 2022 – a tranquil and versatile event space that presented a third venue space. We also purchased new lighting fixtures to improve our live-music spaces and commitment to community groups.

Children and young people (CYP): We extended our commitment to CYP (0-25yrs), going to school and/or living locally, with activity designed in response to local need. Projects included Open Access Music workshops and Masterclasses; creative social action project using art to amplify the voice of young people; targeted arts engagement with three local primary schools; nature play sessions in our community garden; and weekly stay and play activities for local children and families.

Communities & Neighbourhoods: We honoured our commitment to prioritise resources locally, communities in a 0.5miles radius of Trinity, to co-design and co-deliver a community arts programme. Activity included subsidised hire and support packages for partner organisations working with at risk and/or vulnerable groups, and a place-based community activation approach, using the power of creative participation to enable first step engagement.

Tech Makers: A two year project that will develop new approaches and systems to better capture participant data through Trinty's open-source customer relationship management software, CiviCRM - improving monitoring, evaluation and reporting. The project will also explore how users can take back ownership of data and use it for the benefit of local communities.

Citizens Assembly: Trinity are exploring how we can co-create a cultural strategy for the city and surrounding region. During the research phase, we invited a range of collaborators from the sector who place participation at the heart of their practice to hear from some of the best speakers working in democratic decision making. The project has been awarded further funding and will test new and innovative approaches to strengthen cultural democracy and decision making.

Fidelity Foundation - a two-year organisation development grant restricted to support capacity development, focusing on three strategic business areas that will further our charitable impact and strengthen our financial resilience :1) Democratising Culture; 2) Evidencing Impact; 3) Amplifying our voice.

Jacob Wells Baths (JWB) - building on Trinity’s experience renovating and managing complex heritage assets, we are developing a viable and sustainable future for Jacob Wells as a multi-use creative hub, delivering an intergenerational programme of accessible and inclusive dance, youth, and community arts activities.

36

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued) For the year ended 31 March 2024

16. Analysis of net assets between funds

Fixed Assets Net Current
Assets		 Long term
Loans		 Total
£ £ £ £
Total restricted funds
-
255,365
-
255,365
Total Unrestricted designated funds
– Fixed asset fund
171,648
-
-
171,648
Total unrestricted general funds
18,917
95,182
(18,497)
95,602
Total funds
190,565
350,547
(18,497)
522,615

17. Pension scheme

The Charity Group operates a defined contribution pension. The pension charge for the period represents contributions payable by the Group to the scheme and amounted to £31,664 (2023 - £27,448).

18. Related party transactions

During the year there have been no related party transactions. In the previous year there were no related party transactions.

19. Controlling party

The Charity is controlled by the Trustees as a body.

20. Conflicts of Interest – Trustee Disclosure

Chris Luffingham was appointed as Trinity’s Chair of Trustees in October 2023. Chris is employed by The League Against Cruel Sports (registered charity no. 1095234), whose Chair, Dan Norris, is an MP and Metro Mayor for the West of England Combined Authority.

Trinity is a partner in the Citizens for Culture project, funded by the West of England Combined Authority and the responsibility for grant applications and decisions for this project and associated funds including grant agreements has been delegated to the CEO.

This has been reviewed as part of our annual audit and The Trustees are satisfied the project furthers Trinity's charitable purposes in compliance with its governing document and charity law, that there is no indication of any individual personal or financial benefit being derived from the project nor does the acceptance of associated funding constitute a conflict of interest.

This disclosure is being included in our Annual Accounts 2023/24 in the interests of transparency and accountability to our stakeholders.

37

Docusign Envelope ID: 702A78CA-AAAC-4293-97C2-A7420EA04FAE

TRINITY COMMUNITY ARTS LIMITED

(A COMPANY LIMITED BY GUARANTEE)

Notes to the Financial Statements (continued) For the year ended 31 March 2024

21. Prior year adjustment

In the 2021/22 year, there were material errors in respect of the cut-off of grants. Deferred grants at 31 March 2022 were understated by £37,500 and accrued grants at 31 March 2022 were understated by £76,717. These material errors have been corrected by a prior year adjustment. The financial effect of the prior year adjustment is to reduce the group net assets at 31 March 2022 by £39,217 from what was previously reported. This has resulted in an amended funds brought forward figure for 2023 figures. No such adjustment was required for year ended 31 March 2024.

In previous years the charity’s trading subsidiary, Trinity Community Enterprises Limited, accrued for the gifting by distribution of its year’s profit to the charity. This treatment was not in line with Accounting Standards and has been corrected by a prior year adjustment in the financial statements of Trinity Community Enterprises Limited, with the distribution gifting the profits to the charity being accounted for in the year that it is paid. This adjustment does not affect the consolidated net assets disclosed the consolidated financial statements of the charity, but it has affected the net assets held by the charity individually by decreasing them by £258,835 at 31 March 2022 from what was previously reported. No such adjustment was required for year ended 31 March 2024.

38