Docuslgn Envdope ID.. A556BBTrb6E51499F-9927-3616C4FA53EE Charity number- 1179452 THE BRIGHT FOUNDATION UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ? Bishop Fleming
Do¢Jslgn Envdope ID". As56B8[6E5l499F-9927.36l6C4Fs3EE THE BRIGHT FOUNDATION CONTENTS Page Reference and Administrative Details ol the Charity, its Trustees and Advisers Trust8•s' R•port Independent Examlner'5 Report 13 Statement of Flnanclal Actlvltles 14 Balanc• Sh¢et 15 Statement of Cash Flows 16 Notes to the Flnan¢lal Statom*nts 17-32
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENOED 31 AUGUST 2025 Trustees J Bright, Chair LK Fletcher, Co-chair J Ireland JR Hayward S Williams U Nicholson GM Nebel C Garfick (appointed 28 Novemter 2025) Charlty regSstered number 1179452 Prlnclpal offlct 2 LorKlon Road Sl Leon8rds-on-sea East Sussex TN37 6AE Chief ex•cutiv• officer P Risbridger Accountants Bishop Fleming Audit Limited Chartered Accounlanls Chy NeroW Newham Road Truro Comwall TR12DP Page 1
Docuslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees present their annual report logether with Ihe audited financial statements of the Charity for th8 year 1 Seplember 2024 lo 31 August 2025. OBJECTIVES AND ACTIVITIES a. Pollcles and objectlves The Bright Foundation is an arts education charity founded by Academy Award winning Costume Designer and philanlhropisl, John Bright. Our mission Is lo use the lifetime's work of our founder and benefactor lo be catalyst for creab've learning and inspire a new generation of imaginative children and young people lo reach their full polenlial. We believe in the power of arts and creativity to shape happier and healthier children and young people. Our vision is for all children and young people lo have their imaginations spar1(ed and their wellbeing nurtured through a quality cultural eurrieulum, regardless of their background. The three key outcomes of our work are.. Creative Skills and Self-Expression Improved Wellbeing Increased Aspiration John Bright is an inlemationally renowned Costume Designer lor film. fv and theatre, as well as founder and owner of the costume house. Cosprop which is based in London. The objects of the Charity are.. 1. To advance in life and relieve Ihe needs of disabled andlor socially and economically disadvantaged children and young people through.. al advancing education in particular Ibul not exclusively) in the arts. the history of Ihealro and the making of period toys. by the eslablishmenl and maintenance of a Ihealre, a museum and by providing or supporting the provision of artistic workshops and other facilities and aclivilie$ which will encourage greater understanding and appreciation of the arts,. b) preserving and protecting their mental and physical health, in particular by providing or assisting in the provision of taelile sensory aelivilies, and other activities and facilities promoting mindfulness meditation and relaxation.. cl providing recreational and leisure time activities in the interest of social welfare, designed to improve their conditions of life.. dl providing facilities and activities which develop iheir skills, capacities and capabilities lo enable them lo partj'cipale in society as malure and responsible individuals. and 2. Such other charitable purposes {according lo the law of England and Wales) as the Iruslees think fit from lime lo lime. b. Strategles for achleylng ob)eIveS From two different venues in and around Haslings, we offer a programme of caliVe learning to children and young people, particularly those experiencing disadvantage. The Barn Theatre and Museum based at Rodgers Fam in the surrounding countryside of Haslings, features a 50-seat bam-converted children's theatre and workshop studio, alongside a museum and exhibition space showcasing John's collection of antique toys. puppets and model theatre sets. In this beautiful setting, we invite schools, families and local groups to experience the joy of play and crealion. leam about the history of childhood, and be inspired by perforrnan. The Benbow Arts Space, located in the heart of St. Leonards-On-5ea, is a youth arts space dedicated to the craft of film-making. John Bright has curated an early cinema exhibition and there are two flexible and beautiful event and workshop spaces. The programme includes film-making courses for young people, public Page 2
Docuslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 open days, school and college visits. creative career advice and support. In 2024 we become a BFI Film Academy hub. We launched the foundation and opened the Bam Theatre and Museum in June 2022. Th8 Benbow Arts Space opened in May 2024. We are building partnerships with local schools. voluntary sector groups. creatives, and other venues, lo reach and engage children and y¢JJng people experiencing dis8dvant8ge in their lives and lo expand our reach as an organisation. The trustees agreed that the first two years should be a period to 'test and leam. testing out models of delivery lo understsnd how the charity can best deliver on ils objectives. During Year 3 we developed our core Programme Goals to infomi the development of a long temi Business Plan. We have an Evaluation Consullanl, Catherine Orbach. who evaluates our impa¢l ea¢h year. pr¢xlu¢ing an internal report for staff and Trustees and an external facing Impact Report. . Actlvltl8s undertaken to achlevo oblectlves PROGRAMME School¥ and Groups- Cultural Eduutlon Goal - Offer children and young people a quality cultural 188ming experience drawing on our collectlons and creative spaces Activities We delivered 49.S days of School and Group Experience Days al both siles. These are free lo schools and groups and usually last a day 110am 2pm) with some half day workshops for SEND groups. Topics and themes delivered include.. Puppet Making Outdoor Learning Costume and Character History of Toys Watching a professional theatre show Evolution of the Moving Image Doing it for Reel- insights lo working in the film industry We delivered a pilot work experience project with East Sussex College Group Haslings in which a group of college students spent a week with us and fornied their own production company lo develop and produce a promotional film about The Bright Foundats"on. We had a year round partnership with Torfield SEN School offering an opportunity for every class lo visit us and tske part in creative projects or see a show. Publlc Events- Audience Development Goal - Grow a family and young audience for theatre and performance embedding OPPDrtunilies for them lo develop their own creativity. A¢livilies We presented four famity shows at Ihe Bam Theatre-. The Witch and the Egg by Luminous Tales, The Snowman by The Enchanted Cinema, Anansi and the Lost Sun by Swallow Wings Puppetry and Shoe Baby by Long Nose Puppets. All shows were followed by creabve craft aclivities inspired by the show and museum trails. We presented two Open Days at the Benbow Arts Space as part of local festivals.. Page 3
Docuslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 A Town Explores a Book - over days we delivered a community animation project in which families created scenes as part of an animated film telling the evolution of the Iguanodon, alongside drfferent interactive actsvities exploring dinosaurs such as a green screen where you could walk with them Haslings Fat Tuesday we were a family venue for this annual music festival offering a space for families lo enjoy high qualty music and create customised Lbmbre1185 lor the Umbrella Parade Our annual Open Day al the Bam Theatre and Museum offered a story trail and activities around the grounds of Rodgers Farm curaled and produced by Oul ol the Bag Theatre. We also partlClP8led in a range of off-sile events induding careers fairs al the De La Warr Pavilion and Hastings College, Market at the Museum at Hastings Museum and Art Gallery. a film take.over day at local skal8park Source Park, and screenings as part of the BFI Film Academy and Hastings Rocks Film Festival. Creatlvo Skllls and Employablllty Goal - Support young people to develop creatsve skills and understand career pathways - with a focus on film and screen We delivered the Benbow Youth Film Collective for 11-15 year olds and 16-19 year olds offering weekly film- making after school courses. During the year participants explored making music videos, slop-frame animations and documentaries in partnership with skate park, Source Park. Each temi ended with a screening of the films made for family and friends, including a pop up cinema al Source Park for the documentaries as part of A Curious Town Feslival. We became a EFI Film Academy hub delivering a short urSe for 16 - 19 year olds over October half term. Participants worked with industry professionals lo devise, write and film their own short film which w88 screened al the Kino Cinema and in London al the Soulh Easl BFI Film Academy screening. We delivered three Creative Intensives supported by the Holiday Activities and Food programme and Three Guineas Trust. Play and Perfom look place at the 8am Theatre and Museum over Easter for 8-11 year olds who croaled a play in a week. Creative Explorers look place in Avgusl for children aged 8-11 years with autism. Make a Film in a Week took place at the Benbow Arts Space for 11 15 year olds to make a short film in a week over the Summor holidays. Improving Access Goal - Tackle Barriers for the most disadvantsged chIldn and young people lo access the atts, filmmaking and creativity. Activities Across our ticketed activities we offered discounled and free lickets to events and courses. For theatre shows we offered a heavily discounted rate for anyone in reIpl of benefits or from low income backgrounds, and we worked with charity partners to offer free iickets to Iheir clients, induding FSN. Bexhill Family Collective, and the East Sussex Foster Carers Association. For the Creative Intensives, 500/0 of plaS were free and received free meals (supported by the Holiday Activities and Food Programmel, and the project for autists'c children was fully free (supported by Three Guineas Trust). We established a TransF)Ort Support Fund (supported by the Spencer Wills Trust) which paid for transport for young people and families who needed it, and offered 50% of the costs of minibuses for schools lo travel lo schools attending our Experience Days. We provided a minibus to do a door-d(x)r pick up and drop off for Creative Explorers- the holid8y project for aLrtistic children. Page 4
Docuslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 We estsblished longer lem partnerships with local special schcKsls, especially Totffield School, to run bespoke workshops and projects for their pupils. Collections Care and Exhibitions Goal - Exhibit John Bright's collection of antique toys. puppets. model theatre sets and earfy anema lo educate visitors, preserve our heritage and inspire creativity. Aclivilie5 The exhibitions al both venu8s were open for all visitors lo see and discover. For the public events al the Barn Theatre and Museum we developed a number of different museum trails and quizzes. At both venues the wlleclions provided heritage learning and creative inspiration for the adivilies. SUPPORTING ACTIVITIES Barn Theatre Extenslon and Stag• Infrastrudur• We commissioned and began work on the extension of the Bam Theatre al Rodgers Farm lo create a backstage area that could also be opened up lo extend Ihe depth of the stage. It was designed by Neil Choudhury Archilecls and JH Payne were appointed lo undertake the works following a tendering process. We also commissioned Stage Electrics lo design and install improved technical stsge infrastructure including raise and lower bars for hanging sel and sc&nery. stag& curtains and stage lights for the new extension. d. Maln actlvltlès undortakèn to furthèr thè CharSty's purposes for the publlc beneflt OUT primary beneficiaries are children and young people living in Haslings and Rolher. We intend to expand our reach over time bul for the current period we are focusing on our local communities. Haslings is the 3rd most deprived local authority in the country12025 Index of Multiple Deprivalionl, and ha$ the highest child poverty rale in the South East with an increase of more than 70/0 since 2015. It has the lowest educational atlainmenl slalistics in Easl Sussex125.4% of residents havg no qualifications - compared to 22.50/0 across England) We are primarily reaching children and young people through schools. wherg Hasts'ngs has an average of 36Vo of children on free school meals. We are also developing partnerships to engage children and young people who experience disadvantage or have addilional support needs. Partnerships include FSN, Groundworks, Haslings Foodbank, East Sussex Lijoked After Children's Service, East Sussex Foster Carers Association, a range of special schc4)Is, Haslings and Rolher Arts and Education Network, and the Talent Accelerator IDe La Warr Pavilion). The Bright Foundation also benefits teachers. support workers. local artists and creatives. and families. All activities inslil confiden, nurture physical and emotional wellbeing, promote creativity and collaboration, encourage cultural awareness and understsnding. and offer cross-curricular leaming experiences. In setting objectives and planning for activifies. the Trustees have given due consideration to gerberal guidance published by the Charity Commission relating lo public benefit, including the guidan 'Public bonefil.. running a charity IPB2)'. Page 5
Docuslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 ACHIEVEMENTS AND PERFORMANCE a. Main achievemgnts of the Charity 2024-25 was our first year of running and developing year round programmes in both venues and saw an increase in delivery and demand for our activities. Summary of the key engagement rureS for the year include.. 4.111 total people engaging in our aclivities113YD increase from 2023-241 2,441 of this were children and young people1590/0 of our lolal beneficiaries) Approximately 440k of children and young people parlicipating were in receipt of free school meals andlor had special educational needs 121 days of activity delivered - an increase of 35 days from previous year 2.462 people attended a public event- an increase of 759/0 from previous year 964 children and young people participated in a school and group visit - a 43% increase from 2023- 24 142 young people took part in regular creative skills workshops- a 51% increase from 2023-24 Other a¢higVgmenl$ include.. 8eeoming a BFI Film Academy hub Securing £25,174 in new grant funding b. Key perforrnance Indlcators The Bright Foundation's Key Performance Indicators for 2024-2S. as set at the start of the year were.. Programme.. 1. Creativity and Culture experience 2. Wellbeing -children and young people engaging in our programmes experience an improvement in their wellbeing 3. Environment -children and young people feel morè connected lo nature and aware of the environment 4. Creative Careers and Skills- young people develop new creative. film-making and employability skills and better understsnd the training and Caer pathways available 5. Skilled workforce ensure the professionals that we work with are skilled in supporting children and young people's creativity in an inclusive way 6. Reach and engagement - build partnerships across Sussex to engage children and young people facing disadvantage and hardship ensuring that they make up al least 35% of people engaging in our programmes for more ehiklren and young people to have enjoyed a new cultural Page 6
Docuslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Operational and Finan.. 7. Staffing - undertake staffing review lo ensure we have the best skills and capacity in Pla lo run a year round programme al both venues 8. Fundraising develop a fundraising action plan to diversify our income and attract new supporters and donors 9. Capital improvements - complete final designs and go to tender for the theatre extension at the Barn Theatre and Museum We have since developed our five Programme Goals detsiled aVe, which achieve the following outcomes.. Creative Skills and Self-Expression Improved Wellbeing Increased Aspiration c. Revlew of activitles Our Evaluaty'on Consullanl, Calherine Orbach, designed an Evaluation Toolkit and produced an internal Evaluation Report reviewing the programme and impact achieved over the year. Participants were asked lo rate a series ol slalemenls relating to our goals. The fIguS below show the percentage of those who agree and strongly agreed with the stalemenls. Creative Skills and Self-Exprgssion 970kn ol school and group leaders agree that their group enjoyed their visit, were absorbed and engaged, learnt new skillslknowledge and used their imaginations 90Vo of group leaders felt the visit motivated them to do more creative work 1000h of young people attending courses ar projects ènjoyed themselves and 9510 agreèd they have learnt new skills Improved Wellbeing 97Q/o of group leaders agree Ihal their visit had a positive impact of the participants confidence, communication skills and sense of achievement 78Q/o of parents thought the courses and projects had positive impacl on young people's confidence, wellbeing and ability fo gel on with others 970/0 of young people felt welcome and safe attending actmlies 92Vo ol young people fell their contributions were valued Positive Aspiration 950/0 of young people attending courses an¢J projecls are motivated lo do more creative activities 49°/0 of young people thought that participating in Ihe filmmaking Courses had changed their thinking about futu study andlor career pathways Across every programmo people were asked to say how likely they were to recommend The Bright Foundation to a friend or colleague. This is called a Nel Promoter Score. The Bright Foundation has a sco of 81. Anything over 70 is considered eXlIent. 'Sludents appreciated the supportive, bul also Yreeing. and creative envimnment they were allowed to create in, and were able to practice and apply skills. whilst also k)Ilowing the guidance of industry pfesSiOnalS., ES College, Haslings 'The lfjarning environmenf was dffemnl and a new experience for the childn. It was great they gol to interact with some of the resources such as touching the costumes with gloves, making them think and appreciate olderpieces on display.. Kids Colledive Home Ed Page 7
Docuslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 'tt's an amazing opportunity- I don't know of anythin9 else like this. To allow them to be themselves, they ar8 unphased, welcoming. 11 is a calm and relaxed atmosphere. The staff have such a way of capturing students, attention and 96tting ideas. They quickly pick up on student's needs. Slowing down for one, fftcognising anotherfs ADHD., St Marys Bexhill 6th form All aspects of what we did were led in such a way as to include the whole group and not only hold their attention, bul to encourage them lo 90 above and beyond what they fett they w8r8 capable of. ESCC Looked After Children .1 just wanted to say a maswve thank youl Benbow has been such a fun experience and has allY benefi'ted me - the music VKleo unit helped me land my int8malional music marketing appr&nliceship with Amazon. Lucy and I have been super inspired by our lime with you and touched by the kind and welcoming nature of everyone al Benbow.. Participant from 8enbow Youth Film Collective 'Mainslream, SEN and electively home ed working seamlessty together and producing something that is genuinely collaborative. One of the most genuinely inclusive provision there is. 11 doesn't say il on the lin, bul il is. Parent d. Fundral$lng actlvltl•s and Incom• genèratlon John Bright and his company Cosprop, donated £500.000 lo fund core operations and staffing for the charity. Additionally Ihere was a table sale ol fabrics and china donaled by Cosprop in October 2024 raising £1,683. And Cosprop donated Michael Caine's costume from Muppet Christmas Carol which we sold for £7,500. In 2024-25 we received grants totalling £2S,174 from East Sussex Council Council Holiday Activities and Food Programme, Three Guineas Twst. BFI Film Academy and Sussex Community Foundatiorb Isoulhem Water Goodwill Fundl. In 2025-26 we have already been awarded grants lolalling £39,873 from East Sussex County Council Holiday Activities and Food Programme. Three Guineas Trust. BFI Film Academy, Artswork, National Saturday Cub and Haslings Borough Council. In 2024-25 we rg¢9ived £1.050 in individual donations lin¢ Grft Aid) via Local Giving platform. our online giving In 2025-26 we have launched our Supporters Circle lo coincide with the Cosprop 60th anniversary and exhibition al the Fashion and Textile Museum. We have already exceeded our target and raised £63,479 linc gift aid). We received a Theatre Tax Relief claim for £6,559 for a production commissioned in August 2023 and submilled a Museum and Gallery Tax Relief claim of £23.657 against the mounting of the Eady Cinema exhibition at the Benbow Arts Space. We earned £10,576 Inel after Box Office fees deducted) in ticket sales and workshop fees and £2,582 from café sales. e. Investment pollcy and pgrfomiance The funds that have been made available to the Foundation have been tied up in the staffing, operational and programme needs. There were no additional fvnds that would have benefitted from investment. Page 8
Docuslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Financial review a. Golng concern The Trustees have reviewed the circumstances of the Charity and consider that adequate resources continue to be available lo fund the activities of the Charity for the foreseeable future. The Trustees are of the view that the Charity is a going concern. The Trustees have assessed that the Charity has sufficient reseNes and cash balances to mitigate any potential unforeseen impact arising. b. Reservo$ policy We are establishing an Operational Reserve for the first time at year end 31 August 2025. The aim is lo have a Operalional Reserve Fund of £85,000 based on 3 months fixed staffing and overhead costs. We have started the fund with a transfer of £15,000 this year. Our commitment is lo grow the reserve through unspent contingency al the end of each year. The ongoing support of John Bright Holdings I Cosprop miligale the need lo e$tabli$h the full reserve fvnd immediately. c. Performanc• r•vlow Most of the Charity's income is obtained from the estate of John 8ri9hl and his company, Cosprop Limited, the use of which is unreslricled. The programme delivery and charity operations were delivgrgd within budget with a lolal expenditure 01 £481,717, wilh an additional £50.571 being spent on capital costs. There is an unreslricled fund balance of £128.553 which will be carried forwards lo 2025-26 with £53,000 being designated towards the theatre extension works al the Barn Theatre and Museum,. £55,000 being designated to Programme Development and £15,000 being Iransferred to the Operational ReseNe. There is also a restricted carry forward of £5.000 from a grant received in advance. This leaves a remaining genèral fund of £5,577. d. Materlal Inv8stment8 poII¢y Through 2024-25 the Charity s cash balance was held in a Current account with CAF Bank, alongsidg a CAF Gold instsnl access savings account. e. Prlncipal rlsks and uncertalnties The principal risk lo the Foundation rests with ils dependenee on the Majority funding stream coming from John Bright via Cosprop. This funding is dependent on the success of the business. Cosprop has had a very stable history of profitability over the past Sixty years. John Bright will be retiring from Cosprop soon and they are seeking to sell the business. If and when Cosprop is sold. proceeds will be held by John Bright Holdings which will conb'nue lo make the annual donatsons lo The Bright Foundation. Much of John Bright's estate, including Cosprop and the buildings currently used by the foundation are bequeathed lo the charity lo support ils long term future. •. Flnan¢lal rlsk management obJe¢tlves and pollcles The Board of Trustees is reswjnsible for the organisalion's systems of internal control, including risk managemenl. The charily's CEO is the offIr who is responsible for the managemenl of systems of internal control and the implemenlalion of policies set by the Board. The Board monitors and scruts'nises the budget, accounting practice and financial Performan against budgel. Operations and daY-tdaY management is detemiined by finanaal regulations and internal controls are supervised by the Charity's CEO, with support from the Trustees. Page g
Docuslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Throughout the year we have (x)nlinued to review and evolve our risk management framework to ensure that we are comprehensively capturing risk across a range of categories." and so ensure that our register is fully updated., new risks registered and explored in detail,. with recorded actions needed to mitigate against the risks, reported through to the Board al every full board meeting and, Whe relevant, specific meetings are called to respond to urgent risks. f. Prln¢lpal fundln9 John 8righl has committed lo funding the Foundation via his company, Cosprop Limited. Following a successful launch period we are diversifying our income through the establishment of a Supporters Circle and grant fundraising lo reduce reliance on Cosprop. John 8righl has bequeathed Cosprop Limited, including ils property in London. Rodg8rs Farm and the Benbow Arts Space lo the Foundation. Structurei governance and rnanagement a. Constltutlon The Bright Foundation is a charitable incorporated organisation and is registered as a charity in England and Wales with number 1179452. The Charity is consliluled by a CIO conslilulion dated 3 August 2018 as amended on 28 November 2025 I"Ihe CIO wnslilulion-l. The Charity changed ils name from The Children's Art and Education Foundation to The Bright Foundation in March 2020. b. Mèthod8 of appolntment or electlon of Tru8teè8 The management of the Charity is the responsibility of the Trustees who are appointed by the Trustees in accordance with the lemis of the CIO Conslitution. When appointing new Trustees, the Board will give consideration lo the skills and experience mix, and diversity of existing Trustees in order to ensure that the Board has the neSary skills lo Gontributo fully lo the Charity's development. c, Organlsatlonal structure and declslon4naklng pollcles The board of Trustees oversees the overall the management and operatsons of the charity and compliance with ils stslulory obligations. The board of truslees meets quarterly. Senior Management of the Charity's operations on a day-l04ay basis was delegated by the Trustees lo the CEO who look up the full-lime position in November 2021. The Charity cUentlY has seven core staff alongside 8 range of consultants and freelanrg. During the year we undertook a stsff reslruclure lo better respond lo the capacity needs of running two venues and lo create greater clarity on roles and responsibilities. This resulted in one redundancy. The core staff posts are now.. CEO, Head of Communications and Events (0.81, Producer, Film Programme Learning Leader10.81, Atts an Theatre Learning Leader10.61, Facilities & Office Manager, and Groundskeeper & Caretaker. d. Policies adopted for the induction and training of Truslees Provision for the induction and training of Trustees is led through the charity's managers and Chair of the Board. This indudes the role of the Trustees, the strategic intention of the charity's Business Plan, and a briefing on all activities, the organisalion's financial position. systems, reporting, and management policies. A Trustee Induction Pack of infomiation underpins this training. Publications such as "The Essential Trustee.. what you need to know. (Charty Corrbmissionl are also issued to new Trustees. Page 10
Docuslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 e. Pay policy for key management personnel The CEO salary has been benchmarked against equivalent roles in the arts edUtion I charity sector. f. Related party relationships John Bright Ichairl is the founder and Director of Cosprop Limited. Al transactions between the organisations are only 1 way, with benefit to the Charity only. g. Trustees. Indemnltles Under the terms of the CIO Conslilulion. the Trustees are: {al entitled lo be reimbursed from the property of the Charity or the Charity rnay pay out of such propgrty reasonable expenses propedy incurred by him or her when acting on behalf of the Charity.. and {bl may benefit from Iruslee indemnity insurance cover purchased al the Charity's expense in accordance with, and subject to the conditions in. section 189 of the Charities Act 2011. Plans for future pfjrlods There arg several new projects b8ing dgvelopgd and delivered in 2025-26.. The commission and production of a brand new children's theatre show to celebrate the reopening of the Barn Theatre following the extension. Inspi by Little Red Riding Hood, The Ballad of Red and the Wilding Wolf will be presented for free lo over 800 school children as well as being presented lo the public. We are the Community Partner for the Children's Inlemational Film Festival taking place for the first time in Haslings in June 2026. 11 is a one day festival celebrating filrnmakers under the age of 16. The day includes maslerclasses wilh induslry leaders from BAFTA. Into Film, National Film and Televison School in venues across the town. followed by an awards ceremony al While Rock Theatre. We are working with 10 local schools lo create short films lo submit lo the festival. National Saturday Club in Film and Screen we are launching a new filrn and screen club for young people aged 13-16 years - particularly largeled al those experiencing school anxiety. This is part of a national programme and their work will be shown at Somersgt House a$ part of the Summer Show. New developments and plans for the operations, venues and finance indude.. Hosting our first ever Breakthrough Traineeship, supported by Artswork, offering a six-rnonlh paid role as Assistant Producer. Completing the capital works of the Bam Theatre extension and reopening the theatre Launching the legacy campaign and Supporters Circle lo celebrate the Cosprop 60th anniversary Refreshing the displays al the loy museum al Rodgers Fami Long lem) we are developing a sensory garden and (xeative play space in the fomier sand-school at Rodgers Farm. This will enhan the children's leaming and experience when visiting. The Trustees, Report, incorporating a strategic report. was approved by order of the Board of Trustees. as the company directors, and signed on its behaw by.. 1401C]8AEE4F9 LK Fletcher (Co-chair of Trustees) Date.'51512026 Page 11
Docuslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025 The Trustees are responsible for preparing the Trustees. Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Praclicel. The law applicable to charities in England & Wales requires the Trustees lo prepare financial statements for each financial year which give a true and fair view of the slate of affairs of the Charity and of ils incoming resources and application of resources, including its income and expenditure. for that period. In preparing these financial slalements. the TnJstees are required to= select suitable accounting policies and then apply them consistently.. observe the methods and principles ol the Charities SORP IFRS 1021.. make judgements and accounting eslimales Ihal are reasonable and prudent,. slate whether applicable UK Accounting Standards IFRS 102) have been followed, subject lo any material departures disclosed and explained in the financial statements; prepare the financial statemenls on the going concern basis unless il is inappropriate to presume that the Charity will continuè in businèss. The Trustees are responsible lor keeping adequate accounting records that are sufficient lo show and explain the CharitS transactions and disdose with reasonable accuracy at any time the financial position of the Charity and enable them lo ensure that the financial slalements comply with the Charities Act 2011, th8 Charity (Accounts and Reportsl Regulalions 2008 and the provisions of the Memorandum of Association. They are also responsible for safeguarding the assets of the Charity and hence for tsking reasonable slep$ for the prevention and deleclion of fraud and other irregularities. Approved by order of the members of the Board of Trustees and signed on ils behalf by.. LK Fletcher (cchaIr ol Trustees) Dale.. 51512026 Page 12
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 AUGUST 2025 INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE BRIGHT FOUNDATION I'the Charity'l I report to the charity Trustees on my examinati of the accounts of the Charity for the year endod 31 August 2025. RESPONSIBILITIES AND BASIS OF REPORT As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance wth the requirements of the Charities Act 2011 1.the 2011 Act.). I r8PDrt in respect of my èxaminalion of the Charitys accounts carried out under sèction 145 of the 2011 Act and in carrying out my examination I have fdlowed the applicable Directions given by the Charity Commission under Section 14515llbl of the 2011 Act. INDEPENDENT EXAMINER'S STATEMENT Since the Charills gross income exceeded È250,(M)) r examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified lo undertako thè examination bècause l am a membèr of ICAEW, which is one of the listed bodies. Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities.. Statement ol Recommended Praclice applicable to charities preparing their accounts in accordance with the Financial Rey)rting Standard applicable In the UK and Republic of Ireland IFRS 1021 in preference lo the Accounting and Reporting by Charilies.. Slalemenl ol Recommended Practice Issued on 1 April 2005 which is referred lo in the extant regulations bul has been withdrawn. l understand that this has been done in order lor Ihe aecounls lo prowde a true and fair VTew in accordance with the Generally Aceepled Accounting Practice effeclive for reporting periods beginning on or after 1 January 2015. I have Cofnpleted my examinatson. I confirm that matters have com8 to my attention in connection with tha examination giving me cause to believe thal in any material respect.. accovnllng records were not kept in respecl of the Charity as required by seth'on 130 of the 2011 Act; or the accounts do nol accord with ihose records; or the accounts do not comply with the apwlicable reqU1ments conc*ming the form and conlenl of accounts sel out in the Charities IA¢¢ounls and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fairf view which is not a matter cOnSer9d as part of an independent examination. I have no ¢oncems and have Come across no other matters in ¢onnection with the examination to which attention should be drawn in ihis report in order to enable a proper understanding ol the accounts lo be reached. dtsy. OIIIW FCA for and on behalf of Bishop Fleming Audit Limrte Charted A¢countsnts Chy Nyvarow Newham Road Truro, Comwall TR12DP Dale.. 61512026 Page13
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Total funds 2024 INCOME FROM: Donations and legacie5 Ch8ri1abltr 8Ctivilies Inveslments 508.406 31,686 2.611 25.174 533,580 31,686 2,611 323,110 466,309 456 TOTAL INCOME 542.703 25,174 567,877 789,875 EXPENDITURE ON.. Charitable activities 519.570 20,174 539,744 534,351 TOTAL EXPENDITURE 519,570 20,174 539,744 534.351 NET MOVEMENT IN FUNDS 14 23.133 5.000 28,133 255,524 RECONCILIATION OF FUNDS.. Total funds broughl forward Nel movement in fijnds 1,325.327 23.133 1,325,327 28,133 1,069,803 255,524 5.000 TOTAL FUNDS CARRIED FORWARD 1,348,460 5,000 1.353,460 1.325,327 The Statement of Financial Activib'es indudes all gains and losses recognised in the year. The notes on pages 17 to 32 form part of these financial stalements. Page 14
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION BALANCE SHEET AS AT 31 AUGUST 2025 2025 2024 FIXED ASSETS Tangible assets CURRENT ASSETS 1,219,884 1,217,070 Debtors Cash at bank and in hand 12 7.407 185,957 2,014 149,808 193.364 151,822 Curr•nt Ilabllltl•s Creditors.. amounts falling due wthin one year 13 159.7881 143,S651 NET CURRENT ASSETS 133,576 108,257 TOTAL NET ASSETS 1,353,460 1,325,327 CHARITY FUNDS Restricted funds Unreslricled funds 14 14 5,000 1,348,460 1,325,327 TOTAL FUNDS 1,353,46Q 1,325,327 Th8 financial statemenis were approved and auth)ris8d for issue by th8 Trustees and signed on their b8half by.. (Co-chair of Trustees) Date.'51512026 The notes on pages 17 to 32 fom part of these financial statements. Page15
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2025 2025 2024 Note Cash flows from operatlng ¢tivltles Net cash used in operating actsvits'es 17 84,439 310.415 Cash flows from Investlng actlvities Dividends, intèrests and rents from investmenls Purchase of tangible fixed asset$ 2,811 150,9D11 456 1254,8641 Net ¢ash used In Investlng ¢tlvltles 148,2901 1254,4081 Chang8 In cash and cash •quival•nts Sn the year Cash and cash equivalents 81 the beginning of the year 36,149 56,007 149,808 93,801 Cash and ¢a$h oqulval•nt$ at the end of the y*ar 18 185,957 149,808 The notes on pages 17 10 32 lom part of these finanaal statements Page 16
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 GENERAL INFORMATION The Charity is a charitsble unincorporated organisatv)n registered in England and Wales, wlhin the United Kingdom. The registered Charity number is 1179452 and the giSted office is 2 London Road, St Leonards-on-sea. East Sussex, TN37 6AE. ACCOUNTING POLICIES 2.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS The financial statemenls have been prepared in accordance wth the Charities SORP IFRS 1021- Accounting and Reporting by Charitses.. Statement of Recommended Practice applicable lo charits'es preparing their accounts in accordance wth the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffecbve 1 January 20191. the Finan¢i81 Repx)rting Standard applicable in the UK an¢J Republic of Ireland IFRS 1021 and the Charities Act 2011. The financial statemenis have been prepared to give a 'true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and lair, view. This departure has involved following the Charities SORP IFRS 1021 published in October 2019 rather than the Ac£ounb"ng and Reporting by Charities.. Statement ol Recommended Pr8ctice effective from 1 January 2019 which has since been withdrawn. The Bright Foundalion meeis the d8finits.on of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transath'on value unless otherwise stated in tho relevant accounting policy. 2.2 GOING CONCERN Al the year end, the Charity held £1,348,460 of reserves, £1,337.883 of which are designated lo lèasehold propèty and improv8m8nts, tho programme d81iv8ry and th8 Bam Th8atr8 8xl8nsion. Thg Trustees have reviewed the circumstances ol the Charity and consider that adequate resources continue to be available lo fund ihe activilies of the Charity for the foreseeable future. The Trustees are ol the view Ihat the Charity is a going concem. The Truslees have assessed that the Charity has suffiuenl reserves and cash balances lo miligale any potential Unforeseen impact arising. Al the year end. the Charty has unrestricted general lunds of £5.577 and are forecasting further surpluses for years ending August 2026 and August 2027 al a similar18vg1 seen in the current year. The Trustees acknowledge that the Charity is not currently finanaally viable without the financial support ol the related company, Cosprop Limitedl John Bright Holdings. John Bright Holdings have committed lo support the Charity for a minimum of 12 months to ensure the going concern basis is appropriate. Page 17
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES {continued} 2.3 INCOME All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of Incoffle receivable can be measured reliably. Where the donated good is a fixed asset. it is measurèd at fair value, unlèss it is impractical to measure this reliably. in which case the cost of the item to the donor should be used. The gain is recognised as income from donations and a corresponding amount is included in the appropriate rixed asset class and depreciated over the useful economic life in acc4Jrdance with the Charity's accounting policies. On receipt, donated professional services a1 faulities are recognised on the basis of the value of the gift to th8 Charily which is the amounl il would have been willing to pay to obtain s8tvices or facililies of equivalent economic benefit on the open market,. a corresponding amount is then reco9nised in expenditure in the period of receipt. Incorne tsx reeoverable in relalion lo inve5tsnanl ineome is recognised 81 thè b'mè the invaslment Income is receivable. Other incom8 is ro¢0gnis8d in th8 period in which il is receivable and lo the extent the goods have been provided or on completion of the service. 2.4 EXPENDITURE Expenditure is recognised once the is a leg81 or constrv¢tive obligation lo Iransler economic benefit lo a third party, il is probable Ihal a Iransfer of economic benefits wll b& required in selllemenl and the amount of the obligation Can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the lotal of direct costs and shar8d costs, including support costs involved in undertaking each activity. Direcl costs aitributable to a single activity are allocated directly lo that activity. Shared costs which contribute lo more Ihan one activity and support costs which aré not attributable lo a single activty are apportioned between those acliviliey on a basis consistent with the use of resources. Central staff costs are allocaletl on the basis of time spent, and depr8dalion charges allocated on the pO.on of the asset's use. Expendilure on charitable activities is inujrred on direcily undertaking Ihe activities which further the Charitys objeclives, a5 well as any associated support cosis. All expenditu is indusive of irre(¥)verable VAT. 2.5 INTEREST RECEIVABLE Inlerest on funds held on deposil is induded when receivable and the amount can be measured reliably by the Charity.. this is normally uF¥)n nolification of the interest paid or payable by the institution with whom the funds a dew)siled. Page 18
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES {continued} 2.6 TANGIBLE FIXED ASSETS AND DEPRECIATION Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangiblè fixed assèts are initially fècognised at eost. After recognition. tjndèr the cost model, tangible fixed assets are measured al cost less accumulated depreciation and any accumulated impairment losses. Ml costs incurred to bring a taThJible fixed asset into its intended working condition should be included in the measurement of cost. Al each reporting dale the Charity assesses whelher tr*ere Is any indication of impairment. If such indi¢alion exists. the recoverable amount of the assel is det8m)ined to be the higher of ils fair value less cosis to $811 and its valtje in use. An impaimignl loss is recognised wher8 the carrwng amount exceeds the recoverable amount. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their estim8ted useful lives. using the straigh14ine method. Depreciation is provide(l on the lolk)wing bases.. Long-temi leasehold propety - 50 yea Leasehold improvements - 20 years Equipment and fitts'ngs - 5 years Motor vehicles - 5 years Assets under construction Not depreualed until brought into use 2.7 CASH AT BANK AND IN HAND Cash al bank and in hand indudes cash and short-ierm highly liquid investments with a short maturity of three months or less from the dale of acquisitn or opening of the dep0511 or similar aceount. 2.8 LIABILITIES AND PROVISIONS Liabilities are recognised when there is an obligatK)n at the Balance Sheet date as a result of a past event, il is probable Ihal a Iransfer of economic benefil will be required in settlement, and the amount of the seltlement can be estimaled reliably. Liabilities are recognised al the amount that the Charity anticipates il will pay lo settle the debt or the amount il has received as advanced paynents for the g(KKls or servi¢gS ti musl provido. 2.9 PENSIONS The Charity operates a defined contribulion pension scheme and the pension charge represents the arnounls payable by the Charity lo the lund in respect of the year. Page 19
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ACCOUNTING POLICIES {continued} 2.10 FUND ACCOUNTING General funds are unrestricted fiJnds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for olh8r purposes. Designated funds comprise unrestricied funds ihal have been set aside by the Trustees for particular purposes. The aim and use of each desigrbated fvnd is set out in the notes to the financial statements. Restricted lunds are funds which a to be vse(l in 8ccord8nce with specific restrictions imwsed by donors or which havg been raised by the Charity for particular purposes. Tho costs of raising and administering such funds are charged against lh8 SP8¢ific fund. The aim and use of each rgslricted fund is set out in the notes lo the financial statemenis. Investment income, gains arKI losses are allocated lo the appropriate fund. CRITICAL ACCOUNTING ESTIMATES AND AREAS OF JUDGEMENT Estimates and judgemenls are continually evaluated and are based on historical experience and other factors, including exp8Ctations of future events that are believed to be reasonable under the circumstances. Critical accounting eslimates and assumptions: The Charity makes estimates and assumptions conceming the ftjture. The resulting accounting estimates and assumptions will, by definitson, seldom equal the relaied aclual rasults. The Charity has no material or key accounting estimates. INCOME FROM OONATIONS AND LEGACIES Unrostrlctod RestrScted funds funds 2025 2025 Total funds 2025 DONATIONS Donalion- Cosprop Donation- Equipmenl and Services Donations- other Grants 500,C(KI 500.000 8,406 8,406 25,174 25.174 SUBTOTAL 8,406 25,174 33,580 TOTAL 2025 508,406 25,174 533,580 Grant income received in the year were awarded from Sussex Community Foundation (Southem Water Goodwill Fund), Screen South IBFI Film Academy). Three Guineas TrLJSt, and East Sussex County Council Holiday Actsvitses and Food Programme. Page 20
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 INCOME FROM DONATIONS ANO LEGACIES (CONTINUED) Un$1cted fvnds 2024 Reslricled funds 2024 Tol81 funds 2024 DONATIONS Donation- Cosprop Donation- Equipmènl and servi$ Donations- other 300,000 11,543 5,946 5,621 11,543 5,946 Grants 5,621 SUBTOTAL 5,946 5,621 11.567 TOTAL 2024 317,489 5,621 323,110 INCOME FROM CHARITABLE ACTivmES unrtricted lund8 2025 Total funds 2025 Total funds 2024 Charity Audion Eamed income- Box Office, Workshop fees and Cafe sales Exhibitions Tax Relief 10,678 14,480 6,S28 10,678 14,480 6,528 436,283 11,856 18,170 31,686 31,686 466,309 INVESTMENT INCOME Unrestrteted fund$ 2025 Total fund$ 2025 Total ftjnds 2024 Investment income 2,611 2,611 456 Page 21
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ANALYSIS OF EXPENDITURE BY ACTMTIES A¢tivltles und¢rtsk•n dlrectly 2025 Support costs 2025 Total funds 2025 Charitable Activities 355,706 184,038 539,744 Activities undertaken direclly 2024 Support costs 2024 Total funds 2024 Charitable Activilies 326,345 208.01 534.351 Page 22
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 ANALYSIS OF EXPENDITURE BY ACTMTIES (CONTINUED) ANALYSIS OF SUPPORT COSTS Total funds 2025 Total funds 2024 Deprgtialion Hospitality Consultancy fees Leg81 fees Office equipment & stationery Insurance Travel expenses Rent and rates Prgmisès Costs Repairs and r8n8wals Accountancy lees Inlernel Bank charges Other staff expenses Advertising Softw8 and subscriptions Sundry expenses Vehicle expenses Consumables Recruilmenl costs Goveman¢e costs 48,088 2,213 23,812 4,890 1,060 8,793 1,888 11,572 19,186 22,350 7,873 1,474 128 694 32.371 1.995 42,092 3,668 1,039 8.089 1,398 6,417 16.462 47,082 10,820 1,632 69 2,593 6,745 4,793 8,346 5,794 3,478 li 326 290 5,727 185 6.193 5,662 53 6,795 184,038 208,006 INOEPENDENT EXAMINER'S REMUNERATION 2025 2024 Fees payable to the Charitys independenl examiner in respect of: Independent Examination 5,850 5,562 Page 23
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 STAFF COSTS 2025 2024 Wages and salaries Social security costs Contribution lo defined contribub.on pension schen*s 264,840 11,585 7,739 216,056 16,889 6,181 284,164 239,126 The average number of persons employed by the Charity during the year was as follows.. 2025 No. 2024 No. Stsff The number of employB6s whos6 employee benefits (excluding employer pension costs) exceeded £60,000 was.. 2025 No. 2024 No. In the band £60,001- £70,fy)0 All Trustees and certain senior empbyees who have authority and responsibility for planning, directing and controlling the activities of the Charity are considered lo be key managem8nt P8rsonnel as listed on page 1. Total renumerab'on, induding em0yer pension coniritsjtions, in respect of these individuals is £64,57112024. £59,951) 10. TRUSTEES, REMUNERATION AND EXPENSES During the year, no Trustees received any remuneraknon or oiher benefits12024- £NILI. During the year ended 31 August 2025. expenses totalling £945 were reimbursed or paid directly lo 1 Truslee12024 - £427 to 1 Trusleel. Page 24
5 C
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 TANGIBLE FIXED ASSETS (CONTINUED) Management undertwk a review of the fixed asset categories ar combined assets Similar in nature and class including computer equipment. office equipment. fixtures and fitting$ and pl8nl and machinery lo be within trquipmgnt and fittings. Valuation of leasehold land has not obtained and therefore no valuation adjustment has been included. 12. DEBTORS 2025 2024 DUE WITHIN ONE YEAR Trade debtors Other debtors Prepayrnents and accrued income 2,070 4,351 2,014 7,407 2,014 13. CREDITORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2025 2024 Trade CTeditOTS Other laxalion and social Security Other creditors Accruals 33,552 9,729 2,983 13,524 14,938 9,908 579 18.140 59,788 43,S65 Page 26
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 14. STATEMENT OF FUNDS STATEMENT OF FUNDS- CURRENT YEAR Balaneè at 1 Sèptembèr 2024 Balan¢0 at 31 August 2025 Transfèrs inlout Income Expendltur8 UNRESTRICTED FUNDS DESIGNATED FUNDS Leasehold Property & Improvements Benbow Arts Space Programme Bam Theatre Extension Organisalional Reserves Programme Development 1,217.070 {48,0881 50,901 1.219,883 50.000 so.000 150,0001 3,000 15,000 55,000 53,000 15,000 55,000 1.317.070 {48,088 73,901 1,342,883 GENERAL FUNDS General Funds 8.257 542.703 {471.4821 173,9011 5,577 TOTAL UNRESTRICTED FUNDS 1,325.327 $42.703 {519.5701 1,348,460 RESTRICTED FUNDS Holiday Activity & Fwd Programmo Screen South- Britssh Film Instilute IBFII Film Academy Three Guineas Trust Sussex Community Foundation 3,720 {3,7201 12,454 4.000 5.000 {12,4541 {4.0001 5,000 25.174 {20.174) 5,000 TOTAL OF FUNDS 1,325,327 567,877 {539,7441 1,353,460 Page 27
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 14. STATEMENT OF FUNDS {CONTINUED} DESIGNATED FUNDS Leas8hold & Pmp8ty Impmvements- This represents general funds whi¢h havo been d&signated to thg purchase of tangible fixed asseis. The largely relates to the long temi leasehold and build of the Barn Theatre and Museum at Rodgers Farm. and leasehold improvements (namely installation of disabled access lift) to Benbow Arts Space. Benbow Arts Spacs Progr8mme- This represents funds dèsignated for the planning and delivery of the inaugural year of film-making programmes induding the Benbow Youth Film Colltrctive. school and collgge visits. work experience programmes. and festival open days. Bam Theatre EXtensn- This represents funds designated lor planned capital improvements at the Bam Theatre and Museum to create a mulli-use backstage area and extended stage and improvements in stage lighting and infrastructure. Progr8mme Development - this represents funds designated for the planning and delivery of new programmes induding the commissioning and production of a new children's theatre show and a schools programme for the Children's Intemational Film Festival. RESTRICTED FUNDS Holiday Aclivily & Food Programme- This represents funding CeiVed from East Sussex County Councll for Holiday Activities and Food programme to deliver ¢ative holiday projects in Easter and Surnmer lor children and young people in receipt of free school meals. Sussex Community FOUndat- this represents fvndin9 received as part of the Southern Water Goodwill Fund to deliver the National Salurday Club in Film & Screen for 13-16 year olds Thr88 Guine8s Trust - this preSentS funding received lo ¢Jeliver a hollday programme for children wlth autism and their siblings Screen South- this represents funding received from the British Film Instrtuta via the South East lead hub lo deliver a BFI Film Academy Shori Course for 16-19 year olds. Page 28
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 14. STATEMENT OF FUNDS {CONTINUED} STATEMENT OF FUNDS - PRIOR YEAR Balanco at 1 September 2023 8alan¢e at 31 August 2024 Transfers inlout Income Expenditure UNRESTRICTED FUNDS DESIGNATED FUNDS Leasehold Property & Improvements Benbow Arts Space Programmg Bam Theatre Extension 994.577 {32,3711 254,864 1,217,070 50,000 50,CIIO 50.000 50,000 994,577 {32,3711 354,864 1,317,070 GENERAL FUNDS General Funds 75.226 784,254 1496,3591 1354,8641 8,257 TOTAL UNRESTRICTED FUNDS 1,(9,803 784,254 1528,7301 1,325.327 RESTRICTED FUNDS Holiday Acbvily & Food Programme 5,621 {5,6211 TOTAL OF FUNDS 1,(9,803 789.875 1534.3511 1,325,327 Page 29
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 15. SUMMARY OF FUNDS SUMMARY OF FUNDS- CURRENT YEAR Balaneè at 1 Sèptembèr 2024 Balan¢0 at 31 August 2025 Transfèrs inlout Income Expendltur8 Designated funds General funds Restricted funds 1,317.070 8.257 {48,0881 (471.4821 {20,1741 73,901 173,9011 1.342,883 5,577 5,000 $42.703 25,174 1,325,327 567,877 {539,7441 1,353,460 SUMMARY OF FUNDS- PRIOR YEAR Balance al 1 September 2023 Balance at 31 August 2024 Transfers inlout Inrne Expenditure Designated lunds General funds Restricted funds 994,577 75.226 {32,3711 1496,3591 {5,6211 354,864 1354,8641 1,317,070 8.257 784,254 5.621 1,069,803 789,875 1534,3511 1,325,327 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS ANALYSIS OF NET ASSETS BETWEEN FUNDS- CURRENT YEAR Unrestricted Restricted fund$ fund$ 2025 2025 Total fund$ 2025 Tangible fixed assets Current assets Creditors dLJe within one year 1,219,884 188,364 159,7881 1,219,884 193,364 159,7881 TOTAL 1,348,460 s,0 1,353,460 Page 30
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 16. ANALYSIS OF NET ASSETS BETWEEN FUNDS {CONTINUED) ANALYSIS OF NET ASSETS BETWEEN FUNDS- PRIOR YEAR Unrgstri¢led funds 2024 Total funds 2024 Tangible fixed assets Current assgls Creditors due within one year 1.217,070 151.822 143,$651 1.217,070 151.822 143,$651 TOTAL 1.325,327 1,325,327 RECONCILIATION OF NET MOVEMENT IN FUNDS TO NET CASH FLOW FROM OPERATING ACTIVITIES 17. 2025 2024 Nel income for the ye8r las per Sl818ment of Finawal Activities 28,133 255,524 AtXlUSTMENTS FOR: DePCIatIOn charges Dividends, interosts and rents frcrfn investments Decreasellincreasel in deblors Inerease in Creditors 48,087 12,6111 15,4951 16,325 32,371 14561 1,286 21,690 NET CASH PROVIDED BY OPERATING ACTWMES 84,439 310,415 18. ANALYSIS OF CASH AND CASH EQUIVALENTS 2025 2024 Cash in hand 185,957 149.808 19. ANALYSIS OF CHANGES IN NET DEBT Sopt•mb•r At31 2024 Cash flows August 2025 C8sh 81 b8nk and in hand 149,808 36,149 185,957 Page 31
DocJslgn Envdope ID". A556BBDb6E51499F-9927-3616C4FA53EE THE BRIGHT FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 20. CAPITAL COMMITMENTS 2025 2024 CONTRACTED FOR BUT NOT PROVIDED IN THESE FINANCIAL STATEMENTS Acquisltion of tangible fixed asse15 175,773 21. PENSION COMMITMENTS The Charity op8rale5 a defined (trIbUtion pension Scheme. The assets of the scheme are held separately from those of the Charity in an independenuy administered fund. Th& pension cost Charge represents contributions payable by the Charity to the fund and amounted to £7,739 12024.. £6,181). Contributions totalling £1,448 12024". £5791 were payable lo Ihe fund al the balance sheet date and are included in other creditors and contributions payable by the fund at the balance sheet date totalling £986 12024.. £Nill are included wrthin other debtors. RELATED PARTY TRANSACTIONS During the year, donations of £507,97612024-. £300,000) were received from a company where a Truste8 is a director. Purchases of £6,88012024'. £8091 were made to the company. Other gifts in kind, being goods donated for auction sale. amounting lo £Nil 12024.. É129.9001 were also received from this cornpany. Al the balance sheet date. £NIl12024- £1.941 I was owed lo the company, and £1,86412024', £1,132) was owed lo the Charity. During thg year, a cash payment was received from a Tnjslee amounling lo £7,773 {2024'. £Nill in relation to utility bills. At the balance sheet date £Nil12024.' £3,885) was owed to the Trust88, and £Nil 12024.. £Nill was owed to the Charity. During the year, purchases of £Nil 12024.. £8.0701 were made lo a propriel¢X, in which a Trustèè is a director. Al the balance sheet dale £Nil12024.. £NIll was owed lo this company. The Chalily has algase in placg a Trust88 for uso ol land in which a poppgrcom rent is paid. 23. CONTROLLING PARTY The Charity is Controlled by the Trustees. Page 32