REGISTERED CHARITY NUMBER: 1177489 Re ort of the Trustees and Unaudlted Flnanclal Statements for the Year Ended 31 March 2025 for Gloucester Culture Trust Gloucester Culture Trust Contents of the Financial Statements for the Year Ended 31 March 2025 Page Legal and Administrative Information Report of the Trustees 2to3 Independent Examiner'5 Report Staternent of Financial Activities Balance Sheet Notes to the Financial Statements 7tolO Gloucester Culture Trust Le al and Adminlstrative Informatlon for the Yèar Ended 31 March 2025 Trustees jennifer Taylor IAppointed chair- January 20251 N. Hopwood (stepped down April 20241 T. Attwood (stepped down April 20241 Cllr A. Lewislstepped down May 20241 Hannah Brady Amy Belson-Read Clair Greenawav Esther Croft Jessica Gibbs Luke Lutrnan (Appointed Jijly 20241 Cllr C Courtney (Appointed July 20241 Mark Powell (Appointed July 20241 Nikolas Venios (Appointed july 20241 Cherrelle Ford (Appointed july 20241 Charlty number 1177489 Registered office JoSt, First Floor Kings House 27 St Aldate street Gloucester GLI IRP Independent examiner iLex Accountancy Service5 Ltd Units l & 2, Steadings Buslness Centre Malsemore, Gloucester GL2 8EY Bankers CAF Bank Limlted 25 Kings Hill Avenue West Malllng Kent ME19 4JQ Page I Glou¢esterCultU¥é Tru ortof he Trustees r thE Year Ended 31 March Iiv51ee5 present iheir report and financial 51atemenis lor theyearended 31 March 2025. ThÈ fin3ndal Statements have been prepared in accordance wSlh the accounting policies sei oul in note I lo the fSnancial statements and comply with rhe trust's constitution, the Charllie5 Act 2011 and'Atcounting and Reporting by Charilie5.' Statement of Recommended Republlc of Ireland IFRS 1021" las 8mended for atcounilng peTiods commencinÈ from l January 20161 Charltable objectsand actlvltle5 The trust revised its chailtable oblect5 by resolulk)n on id Sepiember 2020. Thefollowingebjects shall be carried out for IhÈ publi¢ benefit In the City of Gloucesier and the surrounding èrea.. 11 To promote, improve and advance public apprecl?IlDn of the art5, culrure ènd heritège, in particular but not excluslvÈly by.. facilltèrion and management of workshops and creative projects, and by the pre5enlatlon of concerts, pÈrformènco5, exhibillon5, festwals and evenrs detnonstratins wark of artistlc merit. bl Supporting charities. arts. heriia8e and creative organi5ations and not for profit bodles and indwlduals enÈaÈed in the 21 To advantr education in the aris. culture, aTI and cultural history and heriiège of ihe City of Gloucester, and in the skills and compeiencie5 necessary lo develtrp successful creatlve publk benefit enierprises by the prDvI5iDn of tr8inin& ￿ci￿r@s, talks, workshops. arts and heritage projeclsi perfoim8nte5 and exhlbitions and by publi5hin8 and dislFlbuiinE publicatlons. 31 To relieve those In nèed by reason of wuth, a8e. ill.health. disability. financ131 hardship or Other dp5advanta8e by a55isling une51ablished creatDie prattitioners to become sell-supportlllgthrough their work. 41 To further or benelit the iesidtn15 of the cityof Glouce5rer and the surroundin8 area. wlihout disiiKtlon of sex, sÈxual orient3tion QT organi5ali¢ns in a common effort to advance educatlon and to provide facllilles in IhÈ Interests of social welfare foi recreatlon and leisure tirne occupation with theobleciTrrfe ol Improving the condirions of life lor the re51deni5. Nothlngln thts constitution shall 3Uthori5e an application of the propertyof the CIO for the purposes which are Mt charltable. The trustee5 have paid due regard to guidance Issued by the Charity Comrnisslon in decidlngwhat 8CtIMties the tlU5t should undertake. Actlvlty H3Vin8 secured Natk)n81 Portfolio Fundin£ from Aits Countil En8land IACEI for the period 2023-26. Gcf h3s developed 8 wide-r3nglnE programme of suppoii for the Cultural sector in Gloucester. In year it was ènnounced thatACE hèd postponed the planned 2026+ Natlonal Por¢folS0 proces$ and are exiendifigihe 2023-26 National Portfolio foroneye3r, to31 March 2027. GCT supportedcreaiive entrepreneurs through prOv￿lon of sub5idised spate, buslness mentorSng session5 and neiwDrking IOO%occupancy ofjolt. 25 studlos and all pods are In use by emerging and developln8 treative businesse5. .341 hours of mentoring delivered 44 total workshops and networkillg events with a total attendance of 562 ComprlslnE of.. 6 x'Power-Up' bu51ne55 Stèrtupworkshops.. AnTrualJolt PlO8ramme,' 12 xcolabs,. S x Pech8Kucha E￿￿t5 Gcf parlneiedwith 5trikeA Ll8hi and GloucesterSuildh311 todelfver the Fuiure Producer5 T?lent Development Progiamrne 17 Youn8 Peoplo completed the Ioweek course One final ￿eTht delivered and designed bytheyoune peO￿e GCTsuccessfully recrulted fNe newtru5tees bringing thetot31 number of rrustees to 11. G￿ lÈd the flrst yearof Togethei Glouce51w, a large cllv-wide partnÈrship 8pplication to ACE for a 3 ye3r programme. In the first year. GCTworklng with straieBicpaiinÈrs have democrati5od cultural declslon makin8 acro55 thecllv Wlth the formation of a cit12ens pènel,. reshaped funding opportunities for ¢ommunllV led and focused cultural actr&ily,' carried out trainlngand developTnenl opportunities for ¢ommunitles, Indniiduals Ènd orgèni5atk?ns,' and hosied sector 8èthÈrin85. Page 2 Gloueester Cultvre Trvst ort of theTrustee Contlnued fortho Year Ended al March 2025 W51on, mlsslon and values Gloucester Culture TrUst's￿510nls to put culiure ai the heaFt of Gloutester for the good of all. It's tn1551Dn1s io connect, enableand thèmplon cultur&. byshapinÈ policy, advLKatSnE for change, facilitatinÉ opportunitles and piowding Infrastructure support ènd capacity. Gloucesi&r CukureTrust has fivetore walue5'. It is creative, putting excellent arrs, ar115ts. heritage and creative practice ai the heart ol everylhlng It doe5. 11 is collaboTativE, focu51fi8on 3¢hleving things ihat one or8anisation cannoi deliver by itself. It 15 diverse, aimingto reach everyane In Glouce51er through its workand Its open approach. It 15future-facinB, wilh 8 commiltDeni to 5UPPDrilngyounÈ people and emergin8 creatives. It add5-value, by buildlng tapacity3nd brin8lnÉeconomic betseflt to the city. Flnan¢lal revlew GloucestÈrCuirure Trust IGcn remains a goifi8concern. with grènt funding secured from.. Arts Council England., GlovcesEer CityCourKil- and oarned charitaNe Income from Joll that ensure5that thecharityrem31nswab￿. desplte the CDntinuin8thallengin8 opeiaisng environrnenr. It15 the policy of the irusl th3t unrestricted funds which hève not bEen desl8nated for a spe•lic use should be malnralned ai a level equivalent to betwEen throe and slx monihs, expÈndiiure. The trustees consider that reserves ai ihis level wll1 ensurÈ thai, in the event additional fvnds Yn3y be raised. The trustees recoBnise aware that Ihe current reserves are lloi al this level and that further workwlll be needed ir the comlngyears to addressthis issue. The twstees have a55e55ed the major risks io whlch the Irust Is exp05ed, and aresatlsfiedthat sysiem5 are In place to mlligate thi5. siructurei governance and management The trustees who seived durlngtheyear and up to the dateof 5iÉnaiure of the finallci31 statementswere.. Clair Gieenawav N. Hopwood15tepped down Aprll 20241 T. Altwood Isiepped down Aprll 20241 Hannah Brady Amy Be150n-Read jennifer T3ylor lappointed chalrlanuary 20251 Esthèr Croft Luke Lutman (Appolnted July 20241 Cllrc Couriney (Appoinied july 20241 Mark Powell IAppointed july 20241 Nikolas Venlos IAppalrtiedJuly 20241 Cherrelle Ford IAppointed July 20241 TheTruste&s are proud ol rhe achievements of GCT Ihlsye31. ènd reco8nisethe teamwork from both the Board and the siaff members that have ellabled this lo happen. The trustees, report approved bythe Board of Trustees. Dated.. 1410112026 Page 3 Glou lerculture enden E¥amlner's Re ort lotheTr lorthe Ye r Ended 31 March 2025 ee5 I report to thptruslees on myexamlnaiion af theflnanclal 5tatementsof GloucesterCvllureTrust Ithe tru511 lor the yearended 31 March 2025. Responslbllltles and ba5Js of rèport The charlty'struslees arè responslble for the preparatlon of the acco￿Trts.The charity'5 trusteestQn5ider that an audll Is not requlred for thisyeaf lunderSÈttlon 144121 of thecharities Act 2011 Ithe 2011 Actll and that Sndependent examlnaiion 15 required and reouesied by the trustees. rhe charity's gr05s Income txoeded £25,￿. È￿￿￿￿e ihe attOuni&yndei Settlon 145 ofthe 2011Act follow the prweduitt lald downin ihe GeneTa1 DSrectlDn5gl¥eD by thechailiy CommIss￿￿ Bastsofthe Independentexamlnoes repurt My examlnèiion wa5 carrled ovl in accord?n¢ewlh the General DlrectlQTr5 8lven bythè CharltyComm1$51on.An examination In¢ludesa reviewof the accounting records kept bythe charity and a comparison of the attounts presÈnted wSlh tha5e records. It also includes matter5. The pthislldEquatErèsourc•sloronllnwln Dp2railDnale*lsienceToilhE tore5eeabletutu￿.￿￿$Ele tIU5tEescontinUetoadoPtthE8vi￿1￿nEei￿bas1sOt￿¢DunlIn￿I￿p￿pa￿nÉtht￿ftaK1￿1 PeStrfc￿dfU￿S•i￿j￿bj¢cI1o5pe￿￿[￿￿d1dDft% *￿￿Or535t￿hr]Vl￿è¥rnlvb•u5¢￿.ltre pwptsSe5ènd utÈsolthere51rlcfed IvDdiarÈsetoutln ¢¢MID4re5ource5 re1ugn￿edWhtnthel￿51[5lega￿YÉ￿titl￿tO1￿1￿erP¢rf￿Tnln[*t0ndl￿Qnsh*W¢bReDTnet.th￿arn(￿n￿U￿bp￿eI5￿IEdrtllablY,ènd1t1i bablethptlnwe will bE TÈttl￿d. Ca5h¢onatlon53relÈtOgThlk*doThT￿P1pt.¢￿h￿1d0Thallo￿￿t￿¢Olln7Se&￿r￿ÈthÈt￿￿thI￿bttnfflQllfl¢￿￿tth2dQnat￿n.￿hlt5*p?rfQ￿lll￿￿ tondllkinsr*gvlredelert3lottheamauTrt. X.5 F¥PErtd￿rt 1hat5ettlè￿rnt￿1ll b¢requlred3nd Iht am0￿￿101th?￿w*af￿￿Ca￿￿MtalUredfeI[￿blY. Allexper￿llV￿￿ Isaciountedfotohin4c¢ru415b?5I5.AIIE￿rt￿sEnc[￿d1nusUP￿t£0s￿ÉndE￿*Mance(OStsArèa1¢*at*0tCIh•iPp1Èèwe e￿pe￿ltUreIh￿tdbryy. 1.6 I￿8￿¢fixed￿ssÈtI trcprctiltkn15 Te¢¢¢ntsed 5045ttsWriteotflhE¢oitOr￿Iua￿OAol?￿s<1I, k5slhelrresldualv1￿è% ￿4￿rthplrVSE*￿lll￿5￿￿thQ lo1￿￿￿nebaJeS'. a(fkeÈqulwment re l￿rÈSt￿ll1td RE5trirtÈd tunds Tot 2025 PrDfe$5LoDalfe A¢