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2025-03-31-accounts

Company number: 10823617 Charity number: 1176385

Venture Arts

Report and financial statements For the year ended 31[st] March 2025

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Venture Arts

Reference and administration information

For the year ended 31[st] March 2025

Company number 10823617 Charity number 1176385

Registered office and operational address

43 Old Birley Street, Hulme, Manchester, M15 5RF

Trustees

Trustees, who are also directors under company law, who served during the year and up to the date of this report were as follows:

Stephanie Graham – Chair Vanda Hagan - Treasurer – retired 4[th] Nov 2024 and re-appointed 27[th] Feb 2025 Howard Rifkin – retired 4[th] Nov 2024 and re-appointed 27[th] Feb 2025

Atul Bansal Michelle Haller Dr Lynn Setterington Dalinder Sall Linda Pittwood Tanya Raabe-Webber - resigned 28th April 2025

Key Management Personnel

The key management personnel were Amanda Sutton (Director), Katherine Long (Head of Creative Development), Marisa Draper (Head of Operations and Internal Business Strategy), Anna Scarisbrick (Head of Finance) and Debbie Cowley (Marketing Manager).

Bankers

CAF, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent, ME19 4TA

Auditor

Third Sector Accountancy Limited, Holyoake House, Hanover Street, Manchester M60 0AS

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Venture Arts

Trustees’ Annual Report

for the year ended 31[st] March 2025

The trustees present their report and the audited financial statements for the year to 31st March 2025. Included within the trustees’ report is the directors’ report as required by company law.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the memorandum and articles of association and the Statement of Recommended Practice - Accounting and Reporting by Charities: SORP applicable to charities preparing their accounts in accordance with FRS 102.

OBJECTIVES AND ACTIVITIES

The charity's objects ("objects") are specifically restricted to the following:

(a) Help and support through the arts for them and their families, dependants and carers; and

(b) Support and facilities for the recreation and education of learning disabled people with the object of improving their conditions of life through the arts.

(2) Advance education in the arts, in particular but not exclusively by providing:

Ensuring our work delivers our aims

We review our aims, objectives and activities each year. This review looks at what we achieved and the outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to the people we are set up to help. The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set.

How our activities deliver public benefit

Our main activities and who we try to help are described below. All our charitable activities are undertaken to further our charitable purposes for the public benefit.

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Who we support

Our Values

Venture Arts is:

Our Vision

For learning disabled people to be recognised, celebrated and valued in the arts and in society.

Our Mission

To be leaders in the arts, striving for equity and supporting artists to excel.

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ACHIEVEMENTS AND PERFORMANCE

Our main activities and beneficiaries this year are described below. All our charitable activities focus on the artistic and social development of learning disabled people and are undertaken to further Venture Arts’ charitable purpose.

Summary

2024–2025 was an exceptional year of growth, influence and artistic excellence for Venture Arts. We deepened our national and international profile through exciting new partnerships, ground-breaking residencies, and increased opportunities for our artists to engage with audiences across the globe. We set in motion our plans to reconfigure and modernise our studios. Despite, the upheaval of moving into a temporary art space this nurturing, supportive and kind ambiance had been retained throughout.

The Studio

As always artists have been well supported to create fantastic works of art. They have collaborated widely with a number of partners. People have reported the real sense of respect, friendship and belonging that they feel within the walls of the studio, which is such a vital part of making that creative process follow. Our young people have thrived too, growing in confidence, supported into pathways in their lives and career, being involved in citywide events such as Macfest, Hulme Is Where the Art Is, Pride Week and so much more.

Beyond the Studio

Twelve of our studio artists have taken part in a range of diverse, rich and artist led cultural enrichment projects including:

Literature placements at the Portico, MMU Poetry Library, John Rylands and Elizabeth Gaskell House. An accessibility placement at the Whitworth over 36 weeks, an animation and Comic book placement at Salford Zine Library, Sale Waterside (Cosgrove Hall) and SODA (MMU) a placement working with local makers at Manchester Craft and Design Centre, a music venues placement with Unity Radio, Brighter Sound, Chethams School of Music, Band on the Wall, 53two and Factory International – 20 weeks and a placement about archives with the People’s History Museum and the Ahmed Iqbal Ullah race Relations archive.

We were delighted to receive the news from the Henry Smith Foundation, that they were to continue to support this essential programme for the next three years.

Our work in schools was brilliantly led by our team of neurodiverse learning mentors: Rahima Imtiaz, David Parker-Conway, Amy Ellison, Bilal Khan, George Parker-Conway, Liam Ashworth and Sally Hirst. They worked at St John Vianney High School, Loreto College, Cavendish High School, Piper Hill High School, Bridge College and Manchester College on hugely varied projects including: collage, zine making, illustration and photography about identity and a huge ceramic tile making project, soon to be permanently installed within the school grounds.

We continued our long-term partnership with our friends at Down’s Syndrome Manchester through providing an art workshop at their monthly Chatterbox Club.

Key Highlights

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British council led-Venice Fellowship, invigilating the brilliant show by John Akomfrah at the British Pavilion. They both spent the whole of October there, supported by their families and by a range of Venture Arts staff team. It was a fantastic opportunity for them and they both produced new bodies of work whilst there too.

Venture Arts received the award for the Promotion of Equity and Social Justice in November 2024 at Manchester City Council’s Culture Awards, further embedding our standing in this city’s culture and signalling the continued appreciation for our work towards making culture a more accessible and welcoming place for learning disabled and neurodivergent people.

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It was a developmental year in terms of international development too. As mentioned above, we were very pleased to have been able to support artists to show and work at the Venice Biennale. We continued to build international links with artists and organisations in Germany feeding into a congress as part of Chemnitz 2025 – European City of Culture. We also built networks in Ukraine: Artem, a young autistic artist from Kyiv was able to come and spend two weeks on a residency with us in February, building his creative connections and practice. The work he made will lead into an exhibition at Pinchuk Art Centre in Kyiv and Liam Ashworth’s work will be shown with it under the title of ‘Friendship’. Aligned to this partnership, Amanda also presented to over 100 arts educators from across Ukraine.

The most significant organisational step forward this year was to make concrete plans and build funding to redevelop our art studios. This has been a long time in the planning as the staff team and board have long recognised the urgent need for contemporary facilities that are fit for purpose for our learning disabled creatives, partners and team. In May 2024 we were delighted to be offered by Arts Council England, £355,000 for our planned development. By the close of the year, plans were well underway with legal requirements and leases almost in place to get the project started. Within the first half of 2025 it is expected that the renovation will be completed with state of the art, art-making facilities in ceramics, printmaking, textiles and photography and more space for artists to make work on a larger scale. It will also contain two residency spaces for visiting artists and collaborators as well as more functional lunch, quiet spaces and meeting spaces. The all-new studios will be fully accessible and co-designed by neurodivergent artists and the wider team. This has been made possible to a large extent due to the immense support from Sheila Bird studios, to whom we are immensely grateful.

In January 2025 we moved out of our main studio spaces to make way for the planned works to be completed. We were fortunate to be able to re-locate temporarily to a studio space that had been recently vacated in the same building. The team worked hard to ensure minimal disruption to our work and people during this time which was undertaken efficiently, effectively and with great care. Our thanks go to our landlord Work for Change for supporting and facilitating this to happen too.

The team have shown exceptional care and resilience in supporting our artists to settle into our temporary studios and clearing the old studio site. As always, the whole team continue to show immense care and dedication to supporting our mission. We have been delighted to welcome Amie Kirby to the team as our new CEP coordinator working alongside Sarah Crosby, Thomas Yuen as artist facilitator as well as a new group of freelance studio facilitators.

The steering group continued to build, strengthen and find increasing agency on all levels of the organizational functionality, with their chair, Amber Stother reporting to the board at each board meeting. Board meeting minutes have been transcribed to easy read for consideration by the steering groups and they have been instrumental in decision making on many aspects of the capital project.

The EDI subgroup met six times in the year; supporting the organisation to make incremental progress in ensuring inclusive practice for all communities to our organisation as artists, team, members, volunteers and visitors.

Our Environmental Sub-group also met six times this year and it has been brilliant to see the whole team and artists put into effect simple energy and waste limitation initiatives in everyday working as well as launching our Big Green Summer, working with RNCM on a fantastic exhibition to raise awareness ('Green': a major collaboration with RNCM featuring Michael

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Beard, Violet Elmsley, Jennie Franklin, Teddy Flood, Josh Nisbett and Christina Kitromilides) and planning a major project with Castlefield Gallery for 25-26 to build representation and awareness of environmental issues to wider audiences.

Overall Activity (2024–2025)

105 Artists attending
1,029 In house studio sessions delivered
488 Young people engaged in 9 school projects co-led by 6 studio artist mentors
62 Young people aged 8-25 attending weekly sessions
24 Young people referred to other/ pathway opportunities at VA
35 LD people supported into external volunteering opportunities and involved in
work placements (CEP)
17 Non-VA artists engaged in residencies/ support/ portfolios/ gallery pages/ blogs
6 VA studio artists engaged in residencies (Including Venice Biennale Fellowship
30 Artists employed
16 Freelance artists recruited and engaged
24 Young people referred to other/ pathway opportunities at VA
32,308 Website visits
493,897 Physical audiences
14 Exhibitions delivered
14 Works sold to national & international collections
30 Individual artists selling work
51 Prints/ reproductions of work sold in partnership with cultural orgs and
commercial partners (Manchester Museum, Whitworth, LUSH, Dinosaur)
29 Partnerships developed (incl. regional, national, international + health & social
care) to platform talent & promote ambition
17 Cultural enrichment project partnerships
8 Collaborative projects produced and curated (Co-Labs ana VA Collectives)
6 Commissions developed
5 City-wide festivals events engaged with (Manchester International Festival,
Hulme is Where the Art is, Macfest)
6 Community events delivered (volunteer events, studio seasonal events, open
studios)
3 Parent and carer sessions delivered

Plans For 2025–2026

2025-2026 promises to be a time of exciting developments and progress as we look forward to the premises re-development. In addition, we are delighted to be working towards a major show at Manchester International Festival in partnership with Factory International in July ‘25 as well as a brilliant new partnership with the British Textiles Biennial later in the year.

Partnerships and Funds

We are immensely grateful to all our long-term partners who continue to support our artists to gain voice and representation in the arts including: the Whitworth, Manchester Museum, Castlefield Gallery, ActionSpace, Project Ability, Project Artworks and the Explorers Network, TJ Boulting, National Festival of Making, British Ceramics Biennial, British Textiles Biennial, Factory International, HOME, Things that Go on Things, Dinosaur, Sheila Bird Group and so many more.

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We are pleased that Arts Council England have extended their NPO application process for a further year and would also like to thank Henry Smith Foundation, Manchester City Council, National Lottery Community Fund, Joseph Levy Foundation, Art Fund and all our other donors, volunteers and supporters for their investment of funds and time without which we could not continue our essential work.

CHAIR’S REPORT

This is my first year signing off as Chair of the Board at Venture Arts, and I couldn’t be prouder of what the team and artists have achieved.

Reading through this report, I’m struck by just how much has happened in the past year. 2024/25 has seen international residencies, award-winning exhibitions, new partnerships, expanded cultural enrichment work, and most importantly, more opportunities for learning disabled and neurodivergent artists to develop and show their work. The Venice Biennale, the Wild exhibition at Manchester Museum, and our progress toward redeveloping our studio space are all standout moments.

I want to thank Amanda, the staff team, the artists and our volunteers - everyone has shown real resilience this year, not least during the move to a temporary studio space. So much has happened behind the scenes to keep things running smoothly, whilst maintaining a culture of care, creativity and collaboration.

I also want to give special thanks to Howard Rifkin, our previous Chair and now Vice-Chair, for his ongoing guidance and steady support. It’s been hugely helpful to have his knowledge and experience to hand as I’ve settled into the role.

Looking ahead, we’ve got a big year coming up: the new studio, a major show at Manchester International Festival, and even more chances to work with brilliant partners and reach new audiences. It’s an exciting time.

On behalf of the whole board, thank you to everyone who’s supported Venture Arts - our funders, friends, collaborators, families and especially our brilliant artists. We’re proud of what we’ve achieved together, and even more excited about what comes next.

FINANCIAL REVIEW

At the end of 2024-25 Venture Arts was in a stable financial position.

We ended with an overall deficit of £4,212. During this year we started to incur costs and receive donations for our capital development project. Excluding these, our underlying financial result was a deficit of £22k. This was in line with the Board’s expectations. The prior year achieved a surplus of £25k and it was agreed to carry this over. We see this as a successful result overall given the organisation’s limited fundraising resource, the current grant-giving environment and the amount we have delivered over the year.

Income from grants and donations continues to decline, while workshop fees and commercial income has increased. Donation and legacy income of £262k was lower than the prior year by 13%, yet income from charitable activities of £408k was higher by 12%.

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Total expenditure of £707k was only £17k / 2% higher that of the prior year. This is attributed to staffing costs which were £20k higher than the prior year, partially offset by a reduction in support costs.

We ended the year with sufficient reserves. This, together with our robust approach to financial governance, puts us in a healthy position to continue with our plans to expand our premises and meet the needs of more beneficiaries.

Reserves Policy

Reserves held at 31 March ‘25 were £465,377. These funds are held in order to carry out Venture Arts’s core activities and outreach projects, to develop and/or expand the charity’s work, to ensure the continuity of running costs should a funding gap arise, and to cover costs of closure should the charity find itself in an unsustainable financial situation.

The amount of restricted reserves held at the end of year were £2,686. These are for the Cultural Enrichment Programme, kindly funded by Henry Smith Foundation until 2027.

Of the total unrestricted reserve of £462,691, the Board has designated a fund of £91,439 toward the project to develop our premises.

Excluding our tangible fixed assets of £30,792, our unrestricted, undesignated funds are valued at £340,460. The Board sees this as a satisfactory fund to cover three months’ general running costs and the unfortunate situation of redundancy and cost of closure. It also notes that the coming year will be challenging due to the need to fund its regular programme of artistic development alongside the development of our premises.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Venture Arts is a company limited by guarantee and registered as a charity. The company was established under a Memorandum, and Articles of Association which established our objects and powers. The trustees are only entitled to voting rights and have no beneficial interest in the charity. All trustees give their time voluntarily and receive no benefits from the charity. Any expenses reclaimed from the charity are set out in note 12 to the accounts. We are governed by our Articles and a copy is available on request. Venture Arts is governed by the Board of Directors (referred to in this report as the Trustees), comprising individuals recruited from a wide range of professional backgrounds.

Trustees are appointed for a fixed term of four years and may serve a maximum of three terms.

We recognise the responsibilities placed by law on a trustee and a thorough induction programme is in place for all new trustees which includes visits to our service to meet staff and the people who use our services. All trustees are required to undergo Safeguarding training, have a current satisfactory Disclosure and Barring Service (DBS) certificate and agree to our Trustees’ Code of Conduct.

The board regularly reviews the skills required in order to properly govern the organisation and we intend to develop ways to increase the involvement of the people who use our services at board level.

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We hold Annual General Meetings at which the Chair, Vice-Chair and Treasurer are elected to serve for the year ahead.

One trustee resigned shortly after the accounting period on 28 April 2025. Two longstanding trustees came to the end of their terms and were re-appointed several months later following a small change to the articles of association. Venture Arts recognises that an effective board of trustees is essential to achieve our objects. The board must have available to it all of the knowledge and skills required to run the organisation. Individual trustees must have sufficient knowledge, both of trusteeship in general and of our activities, to enable them to carry out their role and to represent the charity at meetings and other events.

Venture Arts seeks to ensure diversity in its board as well as in its staff base and we continue to consider ways in which groups that are under-represented on the board might be reached and encouraged to apply. The board will not discriminate unfairly on any of the grounds listed in the Equal Opportunities policy.

Remuneration policy for key management personnel

As a charitable company, Venture Arts relies heavily on donated funds and the ongoing support of many volunteers and funders. Venture Arts employed 22 staff, the majority of whom are employed on a part-time basis (total 13.9 FTEs), and additional sessional workers who provide freelance arts work. Staff costs make up a large proportion of the annual cost of running Venture Arts as we are a people-centred organisation and the experience, skills, commitment and enthusiasm of our staff are our most important assets. Managing staff costs whilst ensuring that the charity has the appropriate mix of skills and expertise to achieve its objectives is an important part of ensuring the ongoing success and viability of the organisation.

Remuneration of key management staff is set based on a combination of affordability and benchmarking of third sector rates and is authorised by the Board. There are no employees who received benefits of more than £60,000.

Risk management

The management team carry out regular operational risk assessments. The senior management team and trustees review our Risk Register at quarterly Board meetings, to consider matters that present various organisational risks and agree appropriate actions.

Funds held as custodian trustee on behalf of others

Neither Venture Arts, nor its trustees are acting as custodian trustees.

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STATEMENT OF RESPONSIBILITIES OF THE TRUSTEES

The trustees (who are also directors of Venture Arts for the purposes of company law) are responsible for preparing the trustees’ annual 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 which 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 proper accounting records that 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.

As far as the trustees are aware:

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.

Auditors

This report has been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime of the Companies Act 2006. The trustees’ annual report has been approved by the trustees and signed on their behalf by

Stephanie Graham (Chair)

Date 01/10/2025

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Independent auditors’ report to the members of Venture Arts

Opinion

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

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 March 2025 and of the charitable company’s incoming resources and application of resources, including its income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;

• have been prepared in accordance with the requirements of the Companies Act 2006.

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 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

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

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

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

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Other information

The other information comprises the information included in the trustees’ 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:

• the information given in the trustees’ report, which includes the directors’ report prepared for the purposes of company law, for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the directors’ report included within the trustees’ report has been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors’ report included within the trustees’ report.

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

• adequate and proper accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

• the financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees’ remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit; or

• the trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies’ exemptions in preparing the trustees’ report and from the requirement to prepare a strategic report.

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 18, the trustees (who are also directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary

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to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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

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

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

Capability of the audit in detecting irregularities, including fraud

Based on our understanding of the charitable company and environment in which it operates, we identified the principal risks of non-compliance with laws and regulations related to pension legislation, tax legislation, employment legislation, health and safety legislation, and other legislation specific to the industry in which the charitable company operates, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, the reporting requirements under the Charities SORP and FRS102, and the Charities Act 2011.

We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to:

Our audit procedures were designed to respond to those identified risks, including noncompliance with laws and regulations (irregularities) and fraud that are material to the financial statements. Our audit procedures included but were not limited to:

Compliance with laws and regulations:

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Material Fraud in the financial statements:

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

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 auditor’s report.

Use of the audit report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s 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 charitable company and, the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Patrick Morrello ACA (Senior Statutory Auditor) For and on behalf of Third Sector Accountancy Limited, Statutory Auditor Holyoake House Hanover Street Manchester M60 0AS

Date 02 / 10 / 2025

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Venture Arts

Statement of Financial Activities

(including Income and Expenditure Account) for the year ended 31[st] March 2025

Note
Income from:
Donations and legacies
3
Charitable activities
4
Other trading activities
5
Investments
6
Total income
Expenditure on:
Raising funds
7
Charitable activities
8
Total expenditure
Net income/(expenditure) for the year
10
Transfer between funds
20
Net movement in funds for the year
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
funds
£
157,962
304,688
22,313
10,847
495,810
36,876
453,058
489,934
5,876
-
5,876
456,815
462,691		 Restricted
funds
£
104,061
103,200
-
-
207,261
-
217,349
217,349
(10,088)
-
(10,088)
12,774
2,686		 Total funds
2025
£
262,023
407,888
22,313
10,847
703,071
36,876
670,407
707,283
(4,212)
-
(4,212)
469,589
465,377		 Unrestricted
funds
£
187,151
279,414
40,704
9,629
516,898
21,640
428,168
449,808
67,090
8,783
75,873
380,942
456,815		 Restricted
funds
Total funds
2024
£
£
114,358
301,509
90,850
370,264
-
40,704
-
9,629
205,208
722,106
619
22,259
246,450
674,618
247,069
696,877
(41,861)
25,229
(8,783)
-
(50,644)
25,229
63,418
444,360
12,774
469,589

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

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Venture Arts

Company Number 10823617 Balance sheet as at 31[st] March 2025

Note
Fixed assets
Tangible assets
15
Total fixed assets
Current assets
Debtors
16
Cash at bank and in hand
Total current assets
Liabilities
Creditors: amounts falling due
in less than one year
17
Net current assets
Total assets less current liabilities
Net assets
The funds of the charity:
Restricted income funds
19
Unrestricted income funds
21
Total charity funds		 2025
£
£
30,792
30,792
37,409
446,247
483,656
(49,071)
434,585
465,377
465,377
2,686
462,691
465,377		 2024
£
£
650
650
20,523
491,181
511,704
(42,765)
468,939
469,589
469,589
12,774
456,815
469,589		 2024
£
£
650
650
20,523
491,181
511,704
(42,765)
468,939
469,589
469,589
12,774
456,815
469,589
650
468,939
469,589
469,589
12,774
456,815
469,589

The notes on pages 19 to 32 form part of these accounts.

Approved by the trustees and signed on their behalf by:

Vanda Hagan (Treasurer)

Date: 29/09/2025

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Venture Arts

Statement of Cash Flows

for the year ending 31[st] March 2025

Note
Cash provided by/(used in) operating activities
24
Cash flows from investing activities:
Dividends, interest, and rents from investments
Purchase of tangible fixed assets
Cash provided by/(used in) investing activities
Increase/(decrease) in cash and cash
equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year		 2025
2024
£
£
(49,665)
27,979
10,847
9,629
(6,116)
-
4,731
9,629
(44,934)
37,608
491,181
453,573
446,247
491,181

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Venture Arts

Notes to the accounts for the year ended 31 March 2025 (continued)

1 Accounting policies

The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a Basis of preparation

The financial statements have been prepared in accordance with 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), second edition - October 2019 (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006 and UK Generally Accepted Accounting Practice. The principal accounting policies adopted, judgments and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Venture Arts meets the definition of a public benefit entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b Judgments and estimates

The trustees have made no key judgments which have a significant effect on the accounts.

The trustees do not consider that there are any sources of estimation uncertainty at the reporting date that have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities within the next reporting period.

c Preparation of the accounts on a going concern basis

The trustees consider that there are no material uncertainties about the charitable company's ability to continue as a going concern.

d Income

Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.

Income received in advance of a provision of a specified service is deferred until the criteria for income recognition are met.

e Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), general volunteer time is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

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Venture Arts Notes to the accounts for the year ended 31 March 2025 (continued)

f Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

g Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity.

Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose.

Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity’s work or for specific projects being undertaken by the charity.

h Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings:

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

i Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance, personnel, payroll and governance costs which support the charity's programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 9.

j Operating leases

Operating leases are leases in which the title to the assets, and the risks and rewards of ownership, remain with the lessor. Rental charges are charged on a straight-line basis over the term of the lease.

k Tangible fixed assets

Individual fixed assets costing £1000 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight-line basis as follows:

Refurbishment of premises 20%
Fixtures and fittings 25%
Computers and equipment 33%

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Venture Arts Notes to the accounts for the year ended 31 March 2025 (continued)

l Debtors

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

m Cash at bank and in hand

Cash at bank and cash 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.

n Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

o Pensions

Employees of the charity are entitled to join a defined contribution ‘money purchase’ scheme. The charity’s contribution is restricted to the contributions disclosed in note 11. There were no outstanding contributions at the year end.

2 Legal status of the charity

The charity is a company limited by guarantee registered in England and Wales and has no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The registered office address is disclosed on page 1.

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Venture Arts

Notes to the accounts for the year ended 31 March 2025 (continued)

ncome from charitable activities
Donation income
Grant income
Small grant income
Total
Grants
Workshop fees
External workshop fees
Collaborations
Exhibition fees
Total		 Unrestricted
£
41,030
106,932
10,000
157,962
Unrestricted
£
26,757
227,999
31,028
11,497
7,407
304,688		 Restricted
£
7,038
95,523
1,500
104,061
Restricted
£
103,200
-
-
-

-
103,200		 Total 2025
£
48,068
202,455
11,500
262,023
Total 2025
£
129,957
227,999
31,028
11,497
7,407
407,888		 Unrestricted
£
30,219
156,932
-
187,151
Unrestricted
£
26,757
195,619
22,170
30,720
4,148
279,414		 Restricted
Total 2024
£
£
6,151
36,370
93,657
250,589
14,550
14,550
114,358
301,509
Restricted
Total 2024
£
£
90,850
117,607
-
195,619
-
22,170
-
30,720
-
4,148
90,850
370,264

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Venture Arts

Notes to the accounts for the year ended 31 March 2025 (continued)

5 Income from other trading activities

Artwork sales
Merchandise sales		 Unrestricted
£
14,429
7,884
22,313		 Restricted
Total 2025
£
£
-
14,429
-
7,884
-
22,313		 Unrestricted
Restricted
£
£
36,051
-
4,653
-
40,704
-		 Total 2024
£
36,051
4,653
40,704

All of the charity’s investment income arises from money held in interest bearing deposit accounts. All investment income is unrestricted.

Seeking grants & donations
Cost of merchandise sold
Community events		 Unrestricted
£
31,850
3,199
1,828
36,876		 Restricted
£
-
-
-
-		 Total 2025
£
31,850
3,199
1,828
36,876		 Unrestricted
£
16,332
2,286
3,022
21,640		 Restricted
Total 2024
£
£
-
16,332
165
2,451
454
3,476
619
22,259

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Venture Arts

Notes to the accounts for the year ended 31 March 2025 (continued)

8 Analysis of expenditure on charitable activities

Staff costs
Outreach Projects
Freelance Workers
Travel and Activities
Training
Other
Governance costs
(see note 9)
Support costs
(see note 9)		 Workshops
£
271,046
11,864
26,152
1,349
3,766
2,650
7,788
196,925
521,540		 Other Projects
£
82,244
19,716
3,386
-
153
218
195
42,954
148,867		 Total 2025
£
353,290
31,580
29,539
1,349
3,919
2,868
7,983
239,879
670,407		 Workshops
£
234,707
10,064
12,156
1,552
2,834
2,634
6,355
215,613
485,914		 Other Projects
Total 2024
£
£
85,093
319,800
45,903
55,967
5,863
18,019
-
1,552
345
3,179
94
2,728
237
6,592
-
51,169
266,782
188,704
674,618
Staff costs
Legal & Professional
Travel
Admin
Marketing
Depreciation
Building costs
IT
Health & Safety
Accountancy
Trustee expenses		 Support
£
150,832
3,925
8,528
5,677
6,035
974
44,395
10,224
9,288
-
-
239,879		 Governance
£
-
2,080
-
-
-
-
-
-
-
5,903
-
7,983		 Total 2025
£
150,832
6,005
8,528
5,677
6,035
974
44,395
10,224
9,288
5,903
-
247,862		 Support
£
149,538
24,097
10,867
6,959
8,906
3,303
42,551
11,259
9,302
-
-
266,782		 Governance
Total 2024
Basis of apportionment
£
£
-
149,538
Individual role
-
24,097
Total direct cost
-
10,867
Total direct cost
-
6,959
Total direct cost
-
8,906
Total direct cost
-
3,303
Total direct cost
-
42,551
Total direct cost
-
11,259
Total direct cost
-
9,302
Total direct cost
6,514
6,514
Governance
78
78
Governance
6,592
273,374

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Venture Arts Notes to the accounts for the year ended 31 March 2025 (continued)

10 Net income / (expenditure) for the year

This is stated after charging/(crediting):

This is stated after charging/(crediting):
2025 2024
£ £
Depreciation 974 3,303
Operating lease rentals: other 34,907 34,081
Auditor's remuneration - audit fees 4,944
 4,800
Auditor's remuneration - accountancy fees - 900

11 Staff costs

Staff costs for the year were as follows:

Wages and salaries
Social security costs
Pension costs
Accrued holiday
Accrued payrolled artist commission
Staff related costs
Training
Allocated as follows:
Charitable activities
Support costs		 2025
£
453,457
31,031
9,358
4,350
4,250
1,676
4,359
508,482
357,650
150,832
508,482		 2024
£
433,732
27,978
8,535
3,821
10,168
1,435
3,179
488,848
334,410
154,438
488,848

No employees had employee benefits in excess of £60,000 (2024: Nil).

Staff costs include amounts paid to artists/beneficiaries who are paid commission for art sales via payroll and amounts paid to freelancers who were not registered for self-employment. Excluding artist commission and payrolled freelancers, staff costs in 2025 were £488,487 (2024: £480,445).

The average monthly number of staff employed during the period was 22 (2024: 23) This excludes artist commission and freelancers mentioned above.

The full-time equivalent number of staff during the period was 13.9 (2024: 14.1). This incorporates additional hours worked above standard contractual hours.

The key management personnel of the charity comprise the trustees, Director, Head of Creative Development, Head of Operations and Internal Business Strategy, Head of Finance and Marketing Manager.

The total employee benefits of the key management personnel of the charity were £167,079 (2024: £151,674).

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Venture Arts Notes to the accounts for the year ended 31 March 2025 (continued)

12 Trustee remuneration and expenses, and related party transactions

No trustee or person closely related or connected with them received any remuneration during the year (2024: Nil).

No trustees received travel and subsistence expenses during the year (2024: £78.30).

Aggregate donations from trustees were £120 (2024: £120). There were no restrictions on these donations.

The charity benefitted from services in kind from Sheila Bird Studio, owned by trustee Atul Bansal. The services provided were drawings, specifications and project management services for the capital development project. The in-kind support provided up to 31st March has been valued at £17,500. (2024: £12,000). Sheila Bird also paid Venture Arts a total of £3,705 for artist workshops, valued at £2,205, and commissioned artwork, valued at £1,500 (2024: £1,774).

One related party provided building maintenance services to the value of £720. The supplier was the common law partner of the Head of Finance. This has been paid in full (2024: £1,335).

Venture Arts used the services of Grizedale Arts for an artist residency opportunity to the value of £1,099. This organisation is a charity for which the Venture Arts Director was a trustee up to 26th March 2025. This has been paid in full. (2024: £1,200)

There were no donations from related parties which are outside the normal course of business and no restricted donations from related parties.

No trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity, including guarantees, during the year (2024: nil).

13 Government grants

The government grants recognised in the accounts were as follows:

Arts Council - NPO
MCC - Cultural Partnership Agreement
MCC - Voluntary & Community
MCC - Health Equities
MCC - Cost of Living Grant
MCC - International Womens Day
Access to Work		 2025
2024
£
£
106,932
106,932
26,757
26,757
55,000
55,000
10,000
-
15,000
-
500
-
-
4,550
214,189
193,239

There were no unfulfilled conditions and contingencies attached to the grants.

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Venture Arts

Notes to the accounts for the year ended 31 March 2025 (continued)

14 Corporation tax

The charity is exempt from tax on income and gains falling within Chapter 3 of Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen in the charity.

15 Fixed assets: tangible assets

Debtors
Leasehold
improvements
Cost
£
At 1 April 2024
14,775
Additions
29,169
Disposals
-
At 31 Mar 2025
43,944
Depreciation
At 1 April 2024
14,775
Charge for the year
-
Disposals
-
At 31 Mar 2025
14,775
Net Book Value
At 31 Mar 2025
29,169
At 31 Mar 2024
-
Trade debtors
Prepayments and accrued income
Cycle to work scheme		 Furniture &
fittings
£
13,913
-
-
13,913
13,263
325
-
13,588
325
650
2025
£
17,433
17,871
2,105
37,409		 Furniture &
fittings
£
13,913
-
-
13,913
13,263
325
-
13,588
325
650
2025
£
17,433
17,871
2,105
37,409		 Computers &
Equipment
£
46,046
1,947
47,993
46,046
649
-

46,695

1,298
-
2024
£
12,826
7,634
63
20,523		 Total
£
74,734
31,116
-
105,850
74,084
974
-
75,058
30,792
650
37,409

16 Debtors

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Venture Arts

Notes to the accounts for the year ended 31 March 2025 (continued)

17 Creditors: amounts falling due within one year

Deferred income
Accruals
Trade creditors
Short term compensated absences (holiday pay)
Deferred income (see note 18)
Taxation and social security costs
Employee pension
Deferred income brought forward
Workshop fees received
Released to income from charitable activities
MCC Local Care grant issued relating to 25-26
Deferred income carried forward		 2025
£
15,192
10,771
4,350
10,704
8,054

-
49,071
2025
£
240

228,463
(227,999)
10,000
10,704		 2024
£
27,886
1,670
3,995
240

7,302
1,672
42,765
2024
£
-
195,859
(195,619)
-
240

18 Deferred income

Income received for workshop fees relating to the future period is deferred.

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19 Analysis of movement in restricted funds

Venture Arts

Notes to the accounts for the year ended 31 March 2025 (continued)

Current reporting period
Balance at 1
Apr 24
£
Art Fund - Reimagine
4,809.95
Henry Smith 21-24
7,964
Henry Smith 24-27
0
National Lottery Community Fund RC North West Reg
-
Manchester City Council VCS
-
Manchester City Council Cost of Living
-
Manchester City Council Community Health Equity
-
Manchester City Council IWD
-
Donations restricted to children's programme
-
Grand Plan
-
Total Restricted Reserve
12,774
Previous reporting period
Balance at 1
Apr 23
£
ACE - NW Artist Development
4,233
Access to Work - NW Artist Development
-
Art Fund - Reimagine
38,045
National Lottery Community Fund RC North West Reg
(579)
Scope - Connecting Communities
9,990
Scope - Parent and Carers Group 1
500
Scope - Parent and Carers Group 2
-

Manchester City Council VCS
-

Henry Smith
7,330
Ashley Family Foundation - Community Events
454
Ashley Family Foundation - Children
0
Manchester Guardian Society
2,000
High Lee House - Young People's Programme
1,000
Campaign Donations
445
Send Young Manchester
-
The Charity Service
-
Total Restricted Reserve
63,418		 Income
£
5,000
0
18,200
95,523
55,000
15,000
10,000
500
7,038
1,000
207,261
Income
£
-
4,550
-
93,657
-
-
500
55,000
28,600
-
10,000
-
-
6,151
3,750
3,000
205,208		 Expenditure
Transfers
£
£
(9,810)
-
(7,964)
-
(15,515)
-
(95,523)
-
(55,000)
-
(15,000)
-
(10,000)
-
(500)
-
(7,038)
-
(1,000)
-
(217,349)
-
Expenditure
Transfers
£
£
-
(4,233)
-
(4,550)
(33,235)
-
(93,078)
-
(9,990)
-
(500)
-
(500)
-
(55,000)
-
(27,966)
-
(454)
-
(10,000)
-
(2,000)
-
(1,000)
-
(6,596)
-
(3,750)
-
(3,000)
-
(247,069)
(8,783)		 Balance at
31 Mar 25
£
-
-
2,686

-
-
-

-
-

-
-
2,686
Balance at
31 Mar 24
£
-
-
4,810
-
-
-
-
-
7,964
-
-
-
-
-
-
-
12,774

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Venture Arts Notes to the accounts for the year ended 31 March 2025 (continued)

Analysis of movement in restricted funds continued

Name of restricted fund Description, nature and purposes of the fund
Art Fund - Reimagine Funding to create a new collaborative arts network, Co-Lab, establishing
connections between Manchester based LD artists and local, national, and
international artist collectives, galleries and studio spaces. Over 18 months
(Jan 23- Jun 24) deliver six projects, support LD artists' access to residencies,
funding, exhibitions and commissions, produce ten public showcases and
events.
Henry Smith Charity -
Cultural Enrichment 21-
24 & 24-27		 Funding towards running costs of a project providing work experience
placements in cultural venues for adults with learning disabilities in Greater
Manchester.
National Lottery
Community Fund RC
North West Region		 Funding for the “skills development programme,” to develop workplace skills,
life skills and artistic skills. Developing the skills of people with learning
disabilities to act as mentors and deliver arts workshops to children in schools.
It also funded our workshops with artists who are young adults (Inbetweeners,
aged 18-25). In addition it contributed to some of our core salaries and other
smaller scale skills buildinginitiatives.
Manchester City Council
VCS		 Contribution to the core VA programme including volunteer co-ordination costs,
artist facilitation and overheads.
Manchester City Council -
Cost of Living		 Contribution towards the running costs of the under 18s workshop programme.
Manchester City Council -
Community Health Equity
Manchester		 Contribution towards the running costs of the organisation, with the purpose of
improving health outcomes for learning disabled people.
Manchester City Council
IWD		 For holding an event to celebrate of International Women’s Day 2025.
Grand Plan Funding for one VA artist to develop their artistic practice by working
collaborativelywith an artistpeer.
Donations Fundingforyoung peoples’ workshopsessions
ACE - North West Artist
Development		 Funding from Arts Council England to cover the costs of developing visual arts
by artists with learning disabilities across the North West of England, in
collaboration with Outside In and The Whitworth. This project completed in Mar
2023.
Access to Work Accessibility funding from the DWP to assist the manager of the North West Art
Development Fund
Scope – Connecting
Communities		 Contribution towards the running costs for adult studio sessions over six
months and cultural trips.
Scope – Parent & Carers
1 & 2		 Funding for creative workshops for parents and carers of VA learning disabled
and neurodivergent artists, to socialise with peers, learn new skills, improve
their wellbeingand discuss issues with those in similar situations.
Ashley Family
Foundation - Community
Events		 Funding for community events: two VA collectives, an open studio and festive
fair
Ashley Family
Foundation - Children		 Funding for young people and children workshop sessions.
Manchester Guardian
Society		 Funding for young people and children workshop sessions in 23-24
High Lee House Fundingforyoung people and children workshopsessions in 23-24
Send Young Manchester Fundingforyoung people and children workshopsessions in 23-24
The Charity Service Fundingforyoung people and children workshopsessions in 23-24

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Venture Arts

Notes to the accounts for the year ended 31 March 2025 (continued)

20 Transfers between funds

ACE - NW Artist Development
Project costs were under-allocated in the 22-23
accounts but not for the whole project.
Access to Work - NW Artist Development
The grant was not confirmed until the application was
submitted in 2023-24 after the project completed in
2022-23.		 2025
-
-
0		 2024
(4,233)
(4,550)
(8,783)

21 Analysis of movement in unrestricted funds

Current reporting
period
General fund
Development fund
Prievious reporting
period
General fund
Development fund
Post covid contingency
YPAC Programme 23-24		 Balance at 1
April 2024
£
357,940
98,875
456,815
Balance at 1
April 2023
£
266,262
90,000
8,875
15,805
380,942		 Income
£
495,810
-
495,810
Income
£
516,899
516,899		 Expenditure
£
(482,498)
(7,436)
(489,934)
Expenditure
£
(434,004)
(15,805)
(449,809)		 Transfers
As at 31
March 2025
£
£
371,253
91,439
0
462,691
Transfers
As at 31
March 2024
£
£
8,783
357,940
8,875
98,875
(8,875)
0
0
8,783
456,815
Name of unrestricted
fund		 Description, nature and purposes of the fund
General fund The free reserves after allowingfor all designated funds
Development fund For expandingthe activities of the charityto serve more beneficiaries
Post covid
contingency		 To cover increased costs and bear unexpected impacts as a result of
the pandemic. This was deemed no longer necessary and the Board
decided to transfer the remainingfunds to the Development fund.
YPAC Programme 23-
24		 To cover the costs of the 23-24 children’s programme if further funding
was not found throughout theyear.

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Venture Arts

Notes to the accounts for the year ended 31 March 2025 (continued)

22 Analysis of net assets between funds

Current reporting period
General fund
£
Tangible fixed assets
30,792
Net current assets/(liabilities)
340,461
Total
371,252

Prievious reporting
period
General fund
£
Tangible fixed assets
650
Net current assets/(liabilities)
357,290

Total
357,940		 Designated
funds
Restricted
funds
£
£
-
-

91,439
2,686

91,439
2,686
Designated
funds
Restricted
funds
£
£
-

-
98,875
12,774
98,875

12,774		 Total
2025
£
30,792
434,585
465,377
Total
2024
£
650
468,939
469,589

23 Operating lease commitments

The charity’s total future minimum lease payments under non-cancellable operating leases are as follows:

Less than one year
One to five years
Over five years		 Premises
2025
2024
£
£
29,923
31,694
-

29,765
-
-
29,923
61,459		 Equipment
2025
2024
£
£
3,030
3,030
4,057
7,087
-
-
7,087
10,117

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

2025 2024
£ £
Net income/(expenditure) for the year (4,212) 25,229
Adjustments for
Depreciation charge 974 3,303
Donations in kind capital additions (25,000) -
Dividends, interest and rents from investments (10,847) (9,629)
Decrease/(increase) in debtors (16,886) 1,707
Increase/(decrease) in creditors 6,306 7,369
Net cash provided by /(used in) operating (49,665) 27,979

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