2023-03-31-accounts

Registered number: Charity number.. 1168545 THE scorr CREATIVE ARTS FOUNDATION (A Charitable Incorporated Organisation) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Armstrongwatson. Accountants, 8usiness & Financial Advisers

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) CONTENTS Page Rafgronca and Administrative Datails of thg Company, its TnMtaas and Advisars Trusts¢$' Rèport Indopondont Examinorfs Rèport Statsment of Financial Activities 10 Balanc• Sh••t 11-12 Notes to th8 Financial Statements 13-22

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023 Tw$tg9$ Keth Madeley MBE. Chair Dr Wendy M¢Grandles. TreaSu￿r DT Sue Armstrong. Trustee CharSty reglytered numb•r 1168545 Ragistsrèd office The Old Barn York Road Thirsk North Yorkshire Y07 3AD Accountants Armstrong Watson LLP Chartered Accountants York House Thornfield Business Park Northallerton North Yorkshire DL6 2XQ Bank•rn Lloyds Bank 67 York Road Accomb York Y024 4LN Page 1

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 The Trustees are pleased to present their annual ￿port together %knth the financial stslements of the Charty for the period ending 31 March 2023. The financial slalemenls compty the Charrties Act 2011 and Accounting and Reporting by Charf(ies.' Statement of Recommended Practs"ce applicable to charrties preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS1021. Objectives and activities a. Poll¢l•8 and obl•ctlv The primary objective of the charity las defined by its constitution) is to provide an art gallery to exhibit the historical collections of original paintsngs by the late El￿en and Michael Scott and lo promote and encourage high standards of paintings and other artistic media prinupalty amongst young and emerging artists. We have matched our objectives Ihis year through the follovmng primary means.. . Promoting the fouth SCAF EmergiThJ Artist Award 2023 wih the subject 'Lighl' throughout Yorkshire Planning lor the fifth SCAF Emerging Artist Award 2024. wlh the subject of'Perceplion' Working wlh the York NHS Hospitals Trust Arts Team to maintain and update the S year loan exhibition wthin the York Community Stadium Working wth Lawrence Batley Theatre lo take the SCAF Emerging A￿'st Award 2023 exhibition on lour, providing a wider audience for our artists and the charity. and to support the arts in West Yorkshire Working with past SCAF Emerging Artist Awdrd finalists e.g. Waller Lews- Photographic response to the SCAF field over a year • Jane Claire Wilson - artistic response to working in the upstairs SCAF olTice lo study the diaries and artworks of our benela¢tors Setting up potential collaboration opportunitie$ wlh other Y¢ykshire crtie$ e.g. Doncaster and Bradford Launching the SCAF Liwng Landscape projeci to involve and support members ol the public in our local region who have an interest in food production, gardening. landscape, conservation, and nature, in addition to art Producing a revised Fundraising portlolio Redrawing a five year plan to incorporate a renewed planning applicab.on for an art gallery. Our strategies adopted to achieve these obJ'edive$ have been.. Creative collaborations- Health and Art- York NHS Hospitals Trust Creative collaboration with LawTence Bauey Theatre In Hudder5field Communication wlh artists and the public via social media- Facebook. Inslagram, Linkedin and tw.tter Working with a markeb'ng and creative design company- Your Creative Sauce Maintaining and updating our websrte through the Kajabi portal . Using Curator Space to reach the wider arbstsc community to promote our events Email campaigns Working wlh our part tsme volunteer lo help vth edrtorial Developing relationships with our past finalists lo produce future projects and workshops Advertising wthin 5 miles of our headquarters a call to ath'on for those interested in working in the SCAF grounds . Netsvorking to grow our links those can colLaborate wlh lo exhibit paintsngs both from our benefactors and our emerging artlst award finalists. across the region Creating links wth regional universrties and arts organi5ations to offeT OPPOrtunrties for students. Grants awarded this year: The Emerging Artists Finalisls1101 were awarded.. 1 st place £1250 2nd place £500 3rd place £250 Page 2

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Obl•cfjvè$ and acllviti•$ Icontlnuodl 7 finalists £100 each A¢hiovements and ￿rfO￿lancO a. Main achiov8mgnts of th• Company . The SCAF Emerging Arts'st Award ¢￿ale{l new opportunthes and relalionships for several of the finalists, which included a new collaboration vth the Lawren¢e Balley Theatre in Huddersfield. This year we had the highest number of entries since the launch of our awards, tsthich gave us 10 high quality finalists. Our judges included one 15 involved in Open Studios in York and our 2022 SCAF EAA wnner. Working th our previous wnners Is proving lo be an excellent addib.onal benefit for them land us) as they are able lo see the process in its entirely. Past SCAF EAA finalists have taken up the opportunity to use the SCAF office to work in the space both on their own projects and lo creatively respond to the archived %￿rk of our benefactors. Two of our past finalists are currently working on projects with SCAF. We continue lo receive positive feeilback from members of the public vtho have visited the NHS oulpalienl department al the York Communty Stadium, vknere V• are now in the 2nd year of a &year loan exhibits'on on display in the NHS waiting areas. Our presence in Thir5k is now NbEII established and thjr office is now visited by artists and friends of SCAF. . Our first volunteer has now attended monthly for a year a￿1 is now an integrated team member Flnanclal revlew . Fundraising activiti•s We have received a nominal income from donations. sale of l)ook$ from our beneficiaries and event catalogues. We have now created our Fundraising portfolio. Page 3

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 b. Plans for fulurn porlods Purpose buif( gallery- This 15 our ulb.male long-term goal Ar¢hilectui81 Plans have been ¢ompleled The gallery wll be sited on the land purchased in Thirsk . The works ol Michael and Eileen Scott- 5 Year Loan exhibilion We have collaborated wth the York Health and Art INHS Trust Team) and prowded 35 works from both Eileen and Michael that are now being exhibited al the York Communrty Stadium al Monks Cross in the NHS oulpalienl department. Workshops and discussion Group$ - The pfogramme for 2024 has now been completed and ¥MII be published on our %%Ebsite shoruy Supporting a yearly Arts Award Our 2024 Emerging Artist Awafd will be launched on 1st October 2023 Digitalisation of exhibitionslcollectionslinterviews Our curator is continuing the work of digitalisatson of the ¢ollecti¢)ns Intern Programme - We are in discussions wlh regional educational bodies to offer intem placements Social media anfj marketing Archiving Living Landscape Project Groups made up of members of the public who live within 5 miles of our headquarters will be working on the SCAF land lo land$￿Pe, grow food, socialise and develop skills and kfto￿ed9e Page 4

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 ¢. I￿Sk managomont The Board has paid particular attention to a range of risks faced ty the charity and has implemented measure5 to reduce or miligale these nsks The main risks identified by the Board during 2022r2023 have been.. Loss or damage to the art collection The ctslleclion is prolecleLI within the Art House Maintenance of the building is closely monrtored • Los$ of key personnel- Trustee su¢¢essi Loss of the capital fund Cyber security . GDPR and data Protection Virus software Norton Virus software External Hard drive Password protected Computers Password Protected . Inslallalion of exlemal camera system at the new premises The new facility is a rural location Iherefore il was deemed essential lo provide extemal camera monrtoring of the premises. Burglar Alarm and Fire Alarm Systems - Annual Service was performed Insurance Up lo dale and has been reviewed Maintenance of the rental propety Annual inspection carried out Maintenance of the land Having an unpaid caretaker on site has helped ensure upkeep of the land Page S

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 d. Flnancial rèport SCAF had an opening bank balance on 1st April 2022 of £6.808 and a closing balance on 31 sl March 2023 of £64.399. The funds are held betsveen 2 accounts a current account for day-l¢>day transadion$ and running expenses of the charrty and a savings account. Both are held Lloyd's bank. The increase in the amount of funds being hel¢J in Lloyds was due to a deposrt of 75K in February 2023 from the Brewn Dolphin portfolio lo cover projected running costs of the charity for the next 12 months. The balance of funds is currendy held in a portfolio Brewin Dolphin. Although the overall figure fluctuates the current uncertain economic ts'mes and the recent wthdrawal of funds have caused a fall in the portfolio value to £375,660 which is now predicted to generate an annual Income of circa £12K. This figure could increase once the market e¢onomy slabilises. The main areas of expenditure conlinue(I lo be Ihe Curator's Kyage and the Arts'slic Director's fees along wlh projects to promote the work of SCAF in particular the Emerging Artist Award. This continues to be a very $ucce5sful and popular award wth relats'vely low costs. The 202112022 awdrd was once again hosted in person Ind was well received ￿th a good turnout on the day. Storage of the art collection has been made easier wth the purchase of the property near Thirsk and all additional building costs to convert the garage into an office for SCAF is now finished. This has allowed more efficient administration of the charrty's affairs and allow further expansion of the work of SCAF with new events planned and the abilty to offer internships for art students. The property continues lo be rented and SCAF receives a market value annual rent. Page 6

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Stru¢turo. govornan¢o and managament . Constitution The CIO is a registered charity, number 1168545 vAlh the registration dated 1 August 2018. Scott Creative Arts Foundation is a Chantable Incorporated Organisation (cio) governed by a ¢onslilution registereLI wth the Charrty Commission on 1 August 2016. From the estste of Michael Reginald Scott. the chanty received a pecuniary legacy of £1.000.000. a spe¢ffi¢ bequest of the lrfelime works of Michael and Eileen S¢ott and, subject to a right of residence sthich has since been waived, the private residence, furniture, and personal effects of the late Michael Scott. Scott Creative Arts Foundation has adopted the Foundatson model of the CIO con5tilulion. voting member5 are therefore the charity Trustees only. In aC￿r￿anCe with the consts"tulion Trustees may be appointed for an unlimited period and appointments are approveil by the incumbenl Trustees by way of a majority decision. The 8oard of Trustees meets four kn'mes a year and are responsible for meeting the aim5 and objectives. ongoing viability, strategic development, and legal obligations of the charty. The 8oard of Trustees holds overall responsibility for the charity5 continued success". rt 15 vitsl that its Trustees have the nècessary skills and knO￿edge to enable them lo carry out this funcb"on. During the period the charty had one paid part time employee and one paid part-lime consultant. The Trustee$ performed the day-lothday management of the organisation. The Board of Trustees confirm that they have complied the duty in section 17 of the Charities Act 201110 have due regard lo public benefit guidance publishe(I by the Charity Commission. b. Roferonco and admlnlstrative oxpfriise8 Reference and administrative detsils are inclLKled vthin Charity Infornialion, vknich conslilute$ part of the Report of the Trustees ¢. Fa¢torn outsld• the ¢harltles control Cost of Iwing crisis and the rise in interest rates has reduced both private and business spending on the arts. Changes in local Planning crrteria vknich now discourage any development that involves members of the public using private vehicles to drive to an out of town location. Page 7

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2023 Structurè, govornan¢o and managament l¢ontlnu8d) d. Long terni effect on beneficiaries Through the SCAF EAA 2022r23 we have remained in contsct our finalists and promoted their work primarily through social media and our website. Our SCAF EAA 2022123 finalists have permissions to Use a video that we had professionally produced of the exhibrtion for their own promotional purposes. • The final piece from our SCAF EAA 2023 is now a part of the SCAF colkth'on after SCAF purchased the piece. . All of our SCAF EAA finalists wll be able to book the off￿e space for their own use e.g. to provide workshops. People wthin a 5 mile radius of SCAF Can benefit from a f¢)od growng and sharing in((ialive and use of a community space. Students from regional universities wll have Ihe opportunity to take up intem$hip$ with us to help laun¢h their areers in the arts sector. Statsm•nt of Truste•s' MponslbS1St5 The Trustees (who are also the directors of the Company for the purpose5 of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordanee applicable law and United Kingdom Accounts'ng Standards (United Kingdom Generally Accepted Accounting Praclicel. Company law requires the Trustee$ to prepare financial statements for each financial . Under company law, the Trustees musl not approve the finaneial statements unless they are satssfied that they give a true and fair view of the slate ol affairs ol the Company and of tts incoming resources and application of resources, including ils income and expenditure. for that period. In preparing these financial stslements, the Trustees are required lo.. select suitable accounting policies and then appty them consistenlty., observe the methods and principles of the Charities SORP IFRS 1021., make judgments and ac¢ounling eslimales that are reasonable and prudent.. stsle whether appli¢able UK A¢counting Standard$ IFRS 1021 have been foll9v￿1, subje¢t lo any material departures disclosed and explained in the financial stalements., prepare the financial slalemenls on the going concem basis unless il is inappropriate lo presume that the Company wll continue in business. The Trustees are responsible for keeping adequate accounting records that are suffi¢ienl to show and explain the Company's Iransa¢lions and disclose wih ￿asonable accuracy al any lime the financial position of the Company and enable them to ensure that the fin3nci31 ststements comply the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their beha￿ by.. ,'Q)X%A'I Dr Sue Arnistrong Trustee %t Dr Wendy McGrandles Treasurer Dale 2411212023 Page 8

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organisation) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023 Indèp•nd•nt Examln•rf$ Report to tho Tw$ts•$ of Scott Creat1¥• Arts Foundatlon Ilhe Company'l I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2023. Responsibilities and Basi5 of Report As Ihe Trustees of the Company land ts directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance the requirements of the Companies Act 20061.the 2006 Act'l. Having satisfied myself that the accounts of the Company are nol required to be audited under Part 16 of the 2006 Act and are eligible for independent examinatson, I report in respect of my examination of the Companls accounts carried out under secthon 145 of the Charitses Act 2011 1.the 2011 Act'l. In carryng out my examination I have followed the Directions given by the Charity Commission urKler section 1451Sllbl of the 2011 Act. Indepondont ExamSnerf$ Ststwxent I have completed my examination. I confim that no matters have come lo my attention In connection wlh the examination giving me cause lo believe". accounting records were not kept in respect of the Company 88 required by section 386 of the 2006 Act,. or the accounts do not accord those ￿Ords.. or the accounts do not comply with the accounts'ng requirement$ of seth'on 396 of the 2006 Act other than any requirement that the accounts give a Irue and fairf view ¥thich is not a matter considered as part of an independent examination.. or the accounts have not been prepared in accordance %knth the methods and principles of the Stslement of Recommended Practice for a¢￿untIng and reporting by charities lapplicable lo charrties preparing their accounts in accordance with the Financial Repo￿.n9 Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no con¢ern$ and have wme across other matters in connection wlh the examination lo ¥thi¢h attents'on should be dravm in this report in order to enatle a proper understanding of the accounts to be reached. This report is made solety lo the Company's Trvstees. as a body. in accordance wlh Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters l am required to slate to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company'5 Trustees as a body. for my vA)rk or for thi5 report. Signed. Date(1 0310112024 Simon Tumer ACCA Armstrong Watson LLP Northallerton Page 9

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2023 Unrestricted funds 2023 Total funds 2023 Total funds 2022 Nots Income from: Investments Other income 30,604 47 30,604 47 35. 714 45 Totsl In¢om• 30,651 30,651 35, 759 Expendlture on: Raising funds Charitable aclivrtj'es 4,913 97,976 4,913 97,976 6,898 87,475 Total oxp•ndltur• 102,889 102,889 94,373 Net oxpendlturè bofore nèt (los￿)19a1￿1 on Inv•stm•nt8 Nel Ilossesllgains on investsmenls 172,2381 128,1161 172,2381 128,1161 (58,674? 19,211 Not movèmènt In funds 1100,3541 1100,3541 (39.403? R0concllla￿On of fund•: Totsl funds brought fomard 1.367,740 1.367,740 7,407, 143 Total funds carrlod for•vard 1.267,386 1,267.388 1,367, 740 The Ststemenl of Financial Acts'vrties includes all gains and h)sses recognised in the year. The notes on pages 13 10 22 fom) part of these financial ststemenls. Page 10

THE SCOTh CREATIVE ARTS FOUNDATION IA Charitsble In¢orporJt¢d Organisation) REGISTERED NUMBER: BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 Molo Fixed assets Tangible a5se15 Investments 801.616 389,894 790,987 570.564 10 1,191.510 1,361,551 Currènt assèts Debtors Cash at bank and in hand 6,110 78.151 2, 713 22,548 83.261 25.261 Creditors.. amounts falling due wthin one year 12 17.3851 (19,072) Not current ass•t8 75,876 6, 189 Total a8SOts 1088 current Ilabllltles 1,267.386 Y,367, 740 Not a88OtJ ox¢ludlng p•n$lon •$$ot 1,267,386 7,367, 740 Totsl ngt a¥¥gt$ 1,267,386 1,387, 740 Page11

THE SCOTh CREATIVE ARTS FOUNDATION IA Charitsble In¢orporJt¢d Organisation) REGISTERED NUMBER: BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023 2023 2022 Molo Charity funds Reslricled funds Unrestricted funds 1,267.386 7,367. 740 Total funds 1,267,386 1,367, 740 The Company was entitled to exemw'on from audit under section 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance wlh section 476 of Companies Act 20C6. The Trustees acknovAedge their responsibilities for complying the requirements of the Act with respect to accounting records and preparation of financial statements. The financial slalemenls have been prepare¢J in accordance the provisions applicable lo enlilies subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Dr Sug Am)strong Kaith Mado18y MBE Dale. 2411212023 The notes on pages 13 10 22 fomi part of these ffinancial ststemenls. Page 12

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 General inforniation The Scott Creative Arts Foundation- is a Charitable Incorporated Organisation ICIOI and the registered office is The Office. Arthington Lane. Pool in Wharfdde. LS21 1JZ. Accoun￿ng pollcl 2.1 8asis of preparation of financial statemenls The financial statements have been prepa￿d in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charrties". Sl*emenl of Recommended Practice applicable lo charities preparing their accounts in accordance the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 and the Companies Act 2006. The Scott Creative Arts Foundats'on meets the definibon of a public benefft enlily under FRS 102. Assets and liabilities are initially recognised al hislorical cost or transaction value unless olheNrise slated in the relevant a¢￿unty'ng poli¢y. 2.2 Incom All income is recognised once the Company has enlttlement lo the income. il is probable that the income wll be received and the amount of income receivable can be measured reliably. The recognition of income from legacies is dependent on establishing entitlement, the probability of receipt and the ability lo esbmate with sufficient accuracy the amount receivable. Evidence of entillemenl lo a legacy exis15 vknen the Company has sufficient evidence that a gift has been left lo them Ilhrough knovledge of the existence of a valid wll and the death of the benefadorl and the executor is satisfied Ihat the propety in question ￿11 not be required lo satisfy claims in the estate. Receipt of a legacy must be recognised %then it is probable that it will be received and the fair value ol the amount receivable. vknich wll generally be the expected cash amount to be distributed to the Company, can be reliably measuied. 2.3 Exp•nditur• Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit lo a third paty. it is probable that a transfer of economic benefits wll be required in settlement and the amount ol the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared cos15, including 5UPPOrt cos15 involved in undertaking each activity. Direct ¢osls attnbutable lo a single activity are allocated directly lo that acliwty. Share(1 costs which conlnbute lo more than one a¢livity and support costs thich are not attributable to a single activity are apportioned befv￿en those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of ts'me spent, and depreciation charges albocaled on the portion of Ihe asset's use. Expenditure on raising funds includes all expenditure incurred by the Company lo raise fvnds for ils charitable purposes and includes wsts of all fvnilraising activities events and non-charitable trading. Expenditure on charitable actiwties is incurred on difeclly undertaking the activities which further the Company's objectives, as well as any associaled support costs. Page 13

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accoun￿ng poll¢l•s {¢ontlnu•d} 2.4 Taxation The Charitsble Incorporated Organisation is considere(I to pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definrtion of a charitable company for UK corporation tax purposes. Accordin9ly, the Charitable Incorpcirated Organisation is potentially exempl from taxation in respect of income or caprtal gains received wiihin categories covered by Chapter 3 Part 11 of the Corporatson Tax Act 2010 or Section 256 of the Taxatson of Chargeable Gains A¢t 1992. to the extent that such income or gains are applied exclusively to charil8ble purposes. 2.5 Tangibl8 fixed ass8ts and dgprnc•ation Tangible fixed assets ￿5￿ng ÉNIL or more are capitalised and Tecognised vknen futurè Èconomic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed as$els are initialty re¢ognised at cost. After re¢ognilion, under the ¢o$l model, tangible rixed assets are measured at cost less accumulated depreciabon and any accumulated impairment losses. All costs incurred lo bring a tangible fixed asset into its intended working condition should be induded in the measurement of cost. Depreciation is charged so as to allocate the cost of tangib￿ fixed assets less their residual value over their eslimaled useful lives, Oeprecialion is provided on the followng basis.. Freehold propety Plant and machinery Fix¢ure$ and litty'ngs Computer equipmenl Arfftrk No depreciation 20% Slraighl line 20% Slraighl line 33% Straight line 33% Straight line 2.6 Investm•nts Fixed asset investrnents are a fomi of financial instwment and are initially recognised at their transaction cost and subsequently measured at fair value at the 8alance Sheet date, unless the value cannot be measured reliably in vknich case r(15 measured at cost les5 impairment. Investment gains and losse5, vthelher realised or unrealised. are combined and presented a5 'GainsllLos5esl on investments. in the Stslement of Financial Ath"vrties. 2.7 Oebtors Trade and other debtors are recwnised at the setuement amount after any trade discount offered. Prepayments are valued al the amount prepaid nel of any trade discounts due. Page 14

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Accoun￿ng poll¢l•s {¢ontlnu•d} 2.8 Liabilities and provisions LiabIl￿e$ are recognised when there is an obligab'on at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic beneffit wll be required in settlement, and the amount ol the settlement can be esbmated reliably. Liabilities are recognised al the amount that the Company anlicipales it wll pay to settle the debt or the amount il has received as advance(I payments for the goods or services il must provide. Provisions are measured at the best estsmate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwnding ol the discount Is recognised In the Statement of Financial Aclivilie5 as a finance Cost. 2.9 Flnan¢lal In8trum•nts The Company only has financial assets and financial liabilities of a kind that qualfy as basic financial instruments. Basic financial instruments are initialty recognised at transaction value and subsequently measured al their settlement value with the exception of bank loans Ythich are Subsequently measured al amortised cost using the effective interest method. Invostmont Incom• Unmtrict fund$ 2023 Total fund$ 2023 Rental ineome Dividends from invests))enls 15,000 15,604 1S.000 15,604 30,604 30.604 UnTrstrict8d funds 2022 Total funds 2022 Rental income Dividends from investh)ents 15.000 20, 714 15.000 20, 714 35,714 35, 714 Page 15

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Other income Unrnstrict8d funds 2023 Total funds 2023 Other income 47 47 Un￿StriCted funds 2022 Total funds 2022 Other income 45 45 Page 16

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Investment management costs Unrnstrict8d funds 2023 Total funds 2023 Investment management fees 4,913 4,913 Un￿StriCted funds 2022 Total funds 2022 Investment management fees 6,898 6,898 Analy818 of oxpondltur on ¢harftabl actlvltle* Summary by fund typg Unr•8trlct•d funds 2023 Total 2023 Wages and salaries Management and premises expenses Depreciats'on Bank charges Rent, rents and water Insurance Repairs and renewals Travel, subscriptsons and sundry expenses Printing. postsge, stslionery and advertising Legal and professional Accountancy Computer and telephone ex￿￿$e5 14,142 39,823 6,086 140 14.142 39.823 6,086 140 4,451 1,905 12,781 4,863 6,630 579 4.451 1.90S 12,781 4.863 6.630 S79 li 3,211 3,365 3.211 3.365 97,976 97,976 Page 17

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysis of expenditure on charitable activitie5 {continued Summary by fund typo {¢onlIn￿dI Unrestricted funds 2022 Total 2022 Wages and salaries Management and premises costs Depreciab'on Bank charges Rent, rates and water Insurance Repairs and renewals Travel, subscripb'ons and sundry expenses Printing. postage. 51alionery and advertising Legal and professional Accountan¢y Computer and telephonè expenses 14,889 17,582 8.3T6 101 20,020 1,601 3.422 3, 124 8,9TO 2, 162 2,634 4,594 14,889 17,582 8.376 lot 20,020 1,601 3,422 3, 124 8,970 2, 162 2,634 4,594 87.475 87.475 Anolysls of •xp8ndlturn by actlvltl88 Activiti•s undertsken dirèctly 2023 Total funds 2023 Wages and salaries Management and premises costs Depreciats'on Bank charges Rent, rale$ and water Insurance 14,142 39,823 6,086 140 4,451 1,905 12,781 4,863 6,630 579 3,211 14.142 39,823 6.086 140 4.451 1,905 12.781 4,863 6,630 579 3.211 Repair5 and renewa15 Travel, subseripbons and sundry expenses Printing, postsge, stationery and advertising Legal and professional A¢countsn¢y Computer and telephone expenses i i 3,365 3,365 97,976 97.976 Page 18

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Analysis of expenditure by activities Icontinuedl Act￿lI￿S ndertak8n dI￿¢11Y 2022 Total funds 2022 Wages and salaries Management and premises costs Depreciatr'on Bank charges Rent, rates and water Insurance Repair5 and renewals Travel, subscripbons and sundry expenses Printing. postsge. slalionery and advertising Legal and professional Accountancy Computer and telephone expenses 14,889 17.582 8,376 101 20.020 1,601 3,422 3, 124 8,970 2, 162 2,634 4,594 14,889 17.582 8,376 107 20,020 1,601 3,422 3, 124 8,970 2, 162 2,634 4,594 87,475 87,475 Trust•es' romunfrratlon and oxpenses During the year one Truglee was remunerated for completed on behalf of the Charity Inol for their role as Trustee) lo the value of £32.25612022." £17.3041. During the year the Trustee. S Armstrong paid rent amounting to £15,00012022.' £15,000) to the CIO. During the year ended 31 March 2023, no Trustee expen$es have been incurred (2022- £NILJ. Page 19

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 Tangible fixed assets Fmhold Plant and Fixturns Computsr property machinery and ffttings equipment Artwork Total Cost or valuation At 1 April 2022 Additions 77S.076 16.715 2.910 24.952 12.182 11.682 826,802 16.715 Al 31 March 2023 791,791 2,910 24.952 12,182 11,682 843,517 Dopr¢¢latlon At 1 April 2022 Charge for the year $82 20.251 2.700 10,310 4,672 2.336 35,81S 6.086 582 Al 31 March 2023 1.164 22.9S1 10.778 7.008 41.901 Not book valuè Al 31 Marth 2023 791,791 1,746 2,001 1,404 4,674 801,616 At 31 M8rclJ 2022 775.076 2,328 4, 701 1,872 7,010 790.987 Page 20

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 10. Fixed asset investments Unlistsd investments Cost or valuation At 1 April 2022 Additions Disposals 570,564 30.000 1182.5541 Al 31 March 2023 418,010 Impalrment Charge for the year 28.116 Al 31 March 2023 28,116 N•t book valu• Al 31 March 2023 389.894 At 31 Marclj 2022 570,564 11. Dobtors 2023 2022 Less than on8 y￿r Prepayments and accrued income 5.110 2, 713 5.110 2, 713 5.110 2, 713 Page21

THE SCOTh CREATIVE ARTS FOUNDATION IA charrtab￿ In¢orporat•d Organi$ation) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 12. Creditor5: Amounts falling due within one year 2023 2022 Trade creditors Other taxab'on and social securty Accruals and deferred income 4.737 16,469 293 2,310 2,400 7.385 19,072 13. Summary of funds Summary of funds- currnnt year BAlan¢• at 31 March 2023 Balan¢• at 1 Aprll 2022 Galn {Lo$$•$l Incom• Expondlturo General funds 1,367,7410 30,6S1 {102,8891 128.1161 1,267.386 Balance al 31 March 2022 Balance at l Apnl 2021 Gains/ (Losses) Income Expenditurè General funds 1.407. 143 35. 759 (94.373) 19.211 1,367. 740 14. Analysis of not assots b8twgen funds Analysis of net asset5 betvrnen fundy- current year Unygstrlctgd funds 2023 Total funds 2023 Tangible fixed assets Fixed asset investments 801,616 389,894 5,110 78,151 17,3851 801,616 389,894 5.110 78.151 17,38SI Debtors due after more than one year Current assets Creditors due vAthin one year Totsl 1,267,386 1.267.386 Page 22

The Scott Creative Arts Foundation - accounts for approval Final Audit Report 2023-12-24 Created.. 202>12-18 By.. Hd8n RObIr￿ Ih818n.rrtffjs￿QaMS￿￿WdtsC￿.0).￿[l Status.. &gn8d Transaction 10.. C8JcHBc￿AAZt1ZpSLllg9Kjl(kn3BHXa9WjIy1b4px5k "The Scott Creative Arts Foundation - accounts for approval" His tory Document Grealed by Helen Robinson Ihelen.robinson@armstrongwatson.¢o.ukl 2023.12.18. 14.'41".30 GKff- IP •Jdress.' 90.204.239.163 . Do¢umenl emailed lo keith@theo)nesbook$.co.uk for signatu 2023-12-18- 14.'43..12 GMT Email viewed by [e-mail] 2023-12-24- 09..04..28 GMT- IP addre5s'. 82.28.83.165 Signer [e-mail] entered name at signing as Keith D Madeley 2023.12.24. 09..08..01 GNff_ IP address.. 82.28.83.165 Docurnenl e-signed by Keith D Madeley {[e-mail] S￿natu￿ Date.. 202&12-24- 09."08'.03 GMT- fift Sourr.' seJw- IP 1dress". 82.28.83.165 Document emailed lo [e-mail] for signature 2023-12-24- 09'.08'.04 Gmr Email viewed by [e-mail] 2023.12-24- 15..39..08 GMT- IP •J￿r￿S.. 185.198.243.94 Signer [e-mail] entered name al signing as Wendy McGrandles 2023-12-24- 17".01".33 GMT- IP ￿tIre$S." 185.198.243.122 Document e-signed by Wendy McGrandles Ibarra5tonvel@aol.(x)m) SkJnalure Date.. 202>12-24- 17".01".35 GMT- Sourc: se￿- IP ￿dreSS." 185.198.243.122 Document emailed lo [e-mail] for signature 2023-12-24- 17..01..37 GMT Armstrongwatsort A<mbat S*n

Email viewed by sue@sueam)strongconsullancy.co.uk 2023-12-24- 17'.41'.49 GMT- IP address.. 172.224.227.5 Signer sue@sueam7Strong¢onsultancy.co.uk entered name al signing as Sue Armstrong 2023-12.24. 22..06".19 GMT_ IP ￿￿resS.. 31.94.5.34 Document e-signed by Sue Armstrong [e-mail] S￿nature Date.. 2023-12-24- 22'.06'.21 GMT- Sourr: sthi¥- IP aldress.. 31.94.5.34 Agreement completed. 2023-12-24- 22..06..21 GMT Armstrongwatsort A<mbat Sn