Compan!. registration numkr.. 10894512 Charitsbl¢ cotnpan!. regi5tTation nurnb¢r'. I1804i I Chelmsford Cultural Development Trust IA compan!, limi￿￿ b). guarani&LI Annual Rerx)rt and Financial Sthi¢m¢nts f()r Year Endthj 31 MiwLh 2()25 Edmund Carr LLP Chartered AccounLqnts &. StsiuLorv Audilor 146 Noi" London Road Chelmsford CM2 0.4￿" Chelmsford Culturgl Development Trust Contents Retrerence and Administraiiie DeLqiIs TTusiees' Report 2105 In(l¢T￿n[1¢￿l F.xaTninels R¢￿)rt Statement of l.'inancial Actii'ilies Balance Sheei Noies io ihe Fin￿¢la1 8tstemeni$ Chelmsford Culturgl Development Trust Reference and Administrative Details Chain￿an Nlark Walms1o' (resigned 01101120251 Sarah Barfooi laprM)inied Chahr OIIOli20251 Benjamin Backhouse Sarah Barfooi Trustees Llliol ljoakes Julia Frdscona Iresigned I V03120251 Stephanie MitL'hener C-an)linc l)oncT NliiriL (lill(Jrn￿ (resigned 20105120241 Senior Management l Leadtrship C'IuiTe Cio'aux. C'l..0 Team Regl$itrd Offlet Lil'i¢ L¢t)trc l)uk¢ C-hLlmsliird C'MI IJF. "I ht iharitshll compth) 1$ inc()rNJrntul in l..n¥land and W'alLs. C'harltable rompanv Re%lstration 118n431 Number C.'ompiny Regl$ir*ilon Number 10894512 Indtpendeni Exlmlner l.-dmund Carr l.l.P (-hartL.fL￿ ALLiiununL% &. SLUUi()ri" Audii()r 146 NLi% l.i)ndL)n R()ad C-hclmslord C'M? OAW Page I ## **Chelmsford Cultural Development Trust** ## **Trustees' Report** The trustees, who are directors for the purposes of company law, present the annual report together with the financial statements and Independent Examiners report of the charitable company for the year ended 31 March 2025. ## **Objectives and activities** ## _**Public benefit**_ The Company has been established for the public benefit for the advancement of arts and culture in Chelmsford. Trustees are provided the Charity Commission trustee guidance to read as part of their induction, alongside the Articles of Association and all relevant policies, including: - Bullying and harassment policy and procedures - Campaigns and political activity policy and procedures - Complaints handling - Complaints policy and procedures - Conflicting interests - Financial reserves policy and procedures - Internal charity financial controls policy and procedures - Internal risk management policy and procedures - Risk management - Safeguarding policy and procedures - Serious incident reporting policy and procedures - Social media policy and procedures - Trustee conflicts of interest policy and procedures - Trustee expenses policy and procedures Trustees follow and Declaration and Conflicts of Interest Policy, reflecting the Articles of Association. Trustees declare and file their interests every six months or as soon as they arise. ## _**Achievements and performance**_ Building on the first Cultural Strategy for the borough of Chelmsford which Culture Chelmsford delivered in 2023, the charity consolidated borough-wide commitment to a new Cultural Compact. The Compact is the first of its kind in Essex, with organisations committing to three year unrestricted funding for the charity, and alignment of their strategic approaches. Funding is used to deliver against the jointly agreed Cultural Strategy, and informed by local needs, strengths and communities’ voices. In the financial year of 24/25 the charity secured sign up and funding contribution to the Compact from: - Anglia Ruskin University £40,000 - Chelmsford for You £20,000 - Chelmsford City Council £50,000 - Chelmsford College £5,000 Culture Chelmsford worked collaboratively with the Spark Cultural Youth Forum, with input from local communities, creatives and experts, to support the group to design a funding bid to the Arts Council England Place Partnership Fund – seeking £250,000 match funding for the Compact contribution for 25/26 and 26/27. This co-created £250,000 bid was successful, with the charity becoming entitled to £125,000 of funding from March 2025. This funding was carried over as accrued income for 25/26, as the year agreed with the Arts Council for spend. Page 2 ## **Chelmsford Cultural Development Trust** ## **Trustees' Report** In other key activity in the financial year 24/25 Culture Chelmsford: - Successfully hired a full time Fundraising & Marketing Manager in August 2024. - Funded and supported the delivery of ‘Choose Your Chill’ new multicultural festival for Chelmsford with NGDA in August 2024 – with funds coming from the Arts Council England Emerge programme - £13,477 secured by Culture Chelmsford in 21/22, and £1,498 final payment secured in 24/25. - Founded a new Community Cultural Connectors group, and funded £12,960 for the co-creation of a new Community Engagement Framework with that group in October 2024. - Delivered a review and report on strengthening creative social prescribing in Chelmsford, led by Anglia Ruskin University and funded by Chelmsford City Council through UKSPF in 23/24, and delivered 18 creative social prescribing pilots through £33,056.34 of collaborative community grants in January to March 2025, to test strengthening approaches. - Begun feasibility testing of options to start and run a new creative and learning hub in Chelmsford – with Chelmsford City Council providing £10,000 which was used for feasibility fees in March 2025. - Prepared to bring Spark Cultural Youth Forum and Ignite Creative Network into the charity from April 2025. ## **Financial review** The charity has ended the financial year with funds totalling £181,078, of which £53,790 was unrestricted and £127,288 restricted. Grant and donor funding of £276,498 was received during the period. Gross expenditure of £159,021 was incurred. The trustees consider that there are no material uncertainties about the Charity's ability to continue as a going concern. ## _**Policy on reserves**_ The charity’s policy is to aim to hold three months staff salary costs in unrestricted free reserves. This is for the purpose of ensuring any staff redundancy costs may be paid if the charity ceased. As at 31 March 2025, the charity was holding £53,790 in free reserves. ## **Structure, governance and management** ## _**Nature of governing document**_ The charity’s governing document is the Memorandum and Articles of Association – incorporated 01/08/17, as amended by Special Resolution registered at Companies House on 05/10/18 as amended on 12/07/22, as amended by Special Resolution on 09/12/24. ## _**Recruitment and appointment of trustees**_ The charity may appoint Trustees, the minimum number of Trustees is three and the maximum twelve, however the Board may determine a higher number. In line with the Articles of Association directors are appointed by a fair, open and transparent recruitment and selection process, in accordance with Charity Commission Guidance and best practice generally – including a formal interview by a panel of existing Directors. ## _**Organisational structure**_ A Charitable Company Limited by Guarantee. Members of the company have provided a guarantee capped at £1 each. Page 3 ## **Chelmsford Cultural Development Trust** ## **Trustees' Report** ## _**Statement of trustees' responsibilities**_ The trustees (who are also the directors of Chelmsford Cultural Development Trust for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland". The report and accounts have been prepared in accordance with the provisions in the Companies Act 2006 relating to small companies. Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to: • select suitable accounting policies and apply them consistently; • observe the methods and principles in the Charities SORP; • make judgements and estimates that are reasonable and prudent; • state whether applicable accounting standards, comprising FRS 102 have been followed, subject to any material departures disclosed and explained in the financial statements; and • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records that can disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. ## _**Compliance with prevailing laws and regulations**_ The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published on 16 July 2014. Page 4 ## **Chelmsford Cultural Development Trust** ## **Trustees' Report** ## _**Small companies provision statement**_ This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the trustees of the charitable company on ………………… and signed on its behalf by: ......................................... Sarah Barfoot Interim Chair of Trustees ......................................... Stephanie Mitchener Trustee Page 5 Chelmsford Culturgl Development Trust Independent Examiner's Report to the trustees of Chelmsford Cultural Development Trus¢ ('th¢ Company,) I report to the chariiable companN' trn5ttts on exaM1r￿li0￿ of the accounts of the coThpany for the year ended 31 MurLh 202) ￿hILh out on pages 7 18. Responsibilities and basis of report As the Lhdriiv trusi¢e5 01- the u)rnPilni' land a150 its directors for the pur￿)5¢5 of coThpanv laivl v()u are Te4yKJn%ihli' li)r Ihe pr¢par#¢itsn tsfihe a¢Lx)UllL% in aLLtsrLlanie ii.ith the re4uirernenL% tsfthe Ci)rnpanie% Aci 2006 I'the 2006 AL¢'I. I laving salistied m%'sell' thai ihe accounts ol- the compan). are [￿( required ￿ be audiied under Parl 16 Ol- Ihe 2U06 Act and are eligible for independent examinaiion. I retxjrt in reSFtci ot-mi. eiamination ofl'our compan) s aLiI)uni% as iarriLd c)ul undLY stL¢iiin IJ) i)f the Chthiics Aci 2011 I'thL 2011 A¢i'i. In L)rr)ing (Trul n)y L¥aminaiion I hav¢ tolloiY¢d th¢ Dir¢¢iions giN'¢n b). th¢ Chgrit!, Commission undcr s¢aion 1451511bl ol. Ihc 2DI I ALt. Independent examiner'5 5tatemtTrt inLL IhL Li)nipl' IhL ?111 I ALI. I L()nf)rm thut I ￿ qualifJLxl i(} un(k.rtak"L tht. LNiuninuli()n IKxilU*' l a mLmlK'r ¥1 I'hi Inslilu¢¢ L)I'C'hartLYLd ALix)urtianis in l.'ngland and ￿'all* Mhilh is onl ol'th¢ Iisild ix)di¢&. I hai'L L(ImpILILxi m). LNaminJiion. I confirni thol rK> muiiLryS have Lx>me to m>" atiLnlion in conncLlii)n wilh the Lxaminatii?n ML iii IK'IiLIL= IiLLLiuniin8 fLL(Trrds iVLre n()I kLPt in TesrKLI i)fihe C'lim￿￿ &$ re4UiTLxI b), ￿LI11)n 386 iifthc 211U(? Act: ()r IhL uLLiiunls dii n(11 tiLl￿r￿ i%iih Ihi)5L' fLXX)rds= or 3. IhL aLLx>unLs do not Lxbmpl!. w'ith the aLcounlin8 TcquiremLmts ol. %cLlion .196 ol- thL 2fj(￿ ALI ()IhLT Ilian rLquirLmcnl that IhL aLLLwnls 8iic a 'lnJc and lair Niciv i4'hich is nol a muiicr LX)nsidcrcd us part ol-un indLp¥ndLni Lxaminaliiin: or 4. Ihe ￿KOU￿1$ have no¢ been pr¢pared in &c(Trrdanr¢ with the meth(Kls and priniiples ol. thl %ialLmLI)t i)f Fiixi)mm¢ndixi Prdlti¢¢ fcir ￿¢()￿n11n8 Jnd rLIN)rting b!- Lhdriti¢s appli¢abl¢ Lti ¢hdriiii% prn'pariii& ihiir dLLiiuni% in ￿LI)r￿JnLL Wjth thL' l.'inJnLial RL'rM)nin¥ sian(￿rd appliLablL' in thL' IIK and ItL'publiL l)r IrLland11.'RS 1021. I havl no conLems and havc comc acTOSS no othcr mattLY5 in ￿nnc<(10n iiith thc cxaminalion lo iihich attcnlion should bc drawi in ihis re￿rt in ordu to ¢nablc a prO￿r UnIkr5￿md1fftg ofthe accounts ¢0 be Teachcd. AILX M Stonc FC'C'A 146 N¢1%" l.undvn llal I'un¢l% LdrriLQ l(1Tr4Brd 13 53.7 1 •7.2%¥ All c>l'¢h¥ ¢hJriiabl¢ ¥i)mpiin%"s athiii¢i¢s d¢rii¥ from coniinuin8 op¢rg1ions (lurin8 th¢ a￿)v¥ ¢Mo piri(Kl5. Page 7 Chelmsford Culturgl Development Trust (Registratioll llumber: 10894512) Balance Sbeel as at 31 March 2025 21124 Note Fixed a55ets Tiin¥ihl¢ <1%4¢1S 1.022 c.urrent Y455et5 10 128.051 61.7?3 500 66.7112 Cash at bank and in hand 189.774 07.282 Credltors: Amounts fallittg due wlthin one yeAr 12 Y,7181 13.6811 Net turrent assets 63.601 Net Assets 181.078 63.fyol Funds of the chAritAble company: Restrlettd In¢om¢ fvnd$ RL.%lriiiLd lunJ. 13 127.288 43.000 [Inre5tricted income funds 53.790 20.blll Total funds 13 I'c)r thL' lindnLidl ￿L￿r L'ndinb) 31 Marlh 2025 ihL Lhari(JhlL L()mrYan% eniiiled ts) e.Kemrni()n fr()m audii undLr .%LLtiiin 477 c)I'thL Ci)mpaniL¥.ILI 2006 Telaiin8 u) small LX)mpanic%. "I"hL ffllm￿rS hakc not Tcquircd thi ihariiablc compatt). to obthin an audil of its accounts lor ihc ycai. in quLs1ii)n in aLLx)rdance i*iih 5¢cli()n 476: and 'I'h¢ dirrr¢ors a¢kno%%l¢d8¢ Ih¢ir r¢S[K￿31b1jIll¢s for wmpl)"in8 m.ith th¢ r¢quir¢mthts of th¢ Ad wilh res￿¢( 10 dLLI)uniinB reL(Ird% dnd the preEYarthion I)r￿O￿nL$. Thesc financial s(atcments haNc ￿en prcparl￿ in accordancc i%ith ihc srrtial PTOi'i5ions relating io companics subjcct to the 5rnall companies regime within Part 15 of the Cornpanie5 2006. The tinancial statements on pages 7 10 18 iirrt approi'ed b). the trustees. and authorised for issue on . and signed on iheir I￿ha]r b).: Sarah Barfoot Trustee Page 8 Chelmsford Culturgl Development Trust Notes to the Fillancial Statemellts for the Year Ellded 31 March 2025 I Charitable company 5taths Th¢ Lhuritsble L()Inp￿1￿1 is lisnil¢(I b). guardntff. inC0T￿rated in F.ngland and Wal2*. c()n5equentl%' d()es n()t have sharL' Lapiial. EaLh ot ihL trustees Is liablL to contribuie an amount not exceL￿ding £1 ioi¥ards the assets of the charitable company in the N'cni ot liquidation. 2 Accounting polities Summary of signiflrant Accounting politie5 and kev aceounting estimates 'I'hc principal ￿Col1n11ng [M)IlLiL￿ app11L￿d in ihc prL￿r￿lI0n ol" Ihcse linancial siaicmcnts ar¢ sffl out bcloiv. 'I'hese roliciLS have ￿en consisicnil%' applied ￿ all the i'cars prcsenied. unless oihcni'isc sutcd. Siatem¢tht of ¢ompli*n¢e I'hL lin1￿￿1411 .4iatLmLnL4 hui'e heen prepared in aLeDTdanL* with ALC()unling and RLrrf)rlin¥ hN' CharitiL%.' 4tat¥mini ol. RLLommirtdLd PrailiiL iappliLablL io LhariliiS prLIMring ihlir aw)unis in aLLurdJni¥ I￿lIh ihL -inJniiJl RLrrt)riinu Standard oppli¢obl¢ in th¢ I IK and R¢publi¢ of Ir¢lond Il--R% 10?11 lissu¢d in l)Iiob¢r ?{IlYI IC'hariiiL% %()RI> 11.'K% 111?11. IhL l.'inJnLiJl RL'rA)rting %iandard appIl￿bIC in ihL IIK and KLpuhliL ()f IrLland Il.'R% 11121 und thL L()Mp￿in1¢￿ ALI 21m￿. BASIS of prepargtioA ('hLlm%liird C'uliurJl l)¢%'LlopmLn¢ '] thl dL'liniiion ol. a publi¢ h.nLlit Lmlii> undLY l.'It% 1112. A.%%Lts dnd liahiliii¢% Jrn, iniiialli. r¢Kx)8nis¢d al hists)ri¢#l ¢o¥i or tyans#dion vJlu¥ i)Ih¥n¥i¥ %lJt¢d in ih¢ rLILi ant JLLI)unting rxiltL￿ niitL%. Cvolng oonctrn "I'hl Iru%t¥Lts ¥iin5ider lh￿ there are M) material un¢ertainiies aix)ui the charitsbl¢ Company's abililk 10 ¢(>niinue JS d gi¥ing i(InL¢rn nor 4n>" si8nifiiani 4hr¢&% of un¢¢rtaini)" thai ¥tY¢¢i lh¢ ¢orry"ing valu¢ (if a%s¢is h¢ld h). Ihe Iharitdbl¥ Ll)mpan>. Income and tndowment$ All inLx>mc 15 rccogniscd once thc chariiablc compani" ha5 cnliilemenl lo thc income. il is probablc thai the irtcom¢ will b¢ ￿¢11¢d and lh¢ amouni of th¢ inwm¢ rweii"abl¢ can k meo5ur¢d TeliablN. Donaliotts leRacie5 Di)ndiii)n% JrL fLLI)ynised ii'hen the charithble Lry)mpn)' has been noiifled in ￿nI]n8 of both the amounl and settlcmcnt datc. In thc ci'cnt that a donaiion 15 subjcct lo corbditions that rcquiTC a Ici"cl of pKvtiirniancc b}" Ihc LharitablL' loMpan￿ kfore lh¢ chaTitsbl¢ compan!" is en¢iiled ￿ the fundk the incorne 15 deferred and iiot r¢L()gnistd until eith¥r Ihvs¢ L(Inditi(Ins arr fulli- meL or th¢ fuifilmrni (if thi?se (x?ndilivns is i¥h(Ill)- ii'iihin ihe Ix)ntrol of ih¢ (h￿l￿ble Lompan). and ii is pn)babl¢ that ix)ndiLions M'ill be fuifill¢d in ihe reJx)rting perii)d. Page 9 Chelmsford Culturgl Development Trust Notes to the Fillancial Statemellts for the Year Ellded 31 March 2025 Expendlturt All L'xp¢nditure 1% r￿1)g￿l%¢￿ theT¢ 1% a legal {)[ Lonsltuttii"e i)bl]￿lI1)n li) thai expendilure, il i% prÉ)Tryahle settlLmLnt is reqUirL￿d and the amollni Can ￿ mLYsurcd reliabl!.. All c4)sis are allocated to ihL appliLable LKPLndiillrL' hLading thai a88fL8￿C similar costs io thai c￿e80Th. WherL' Losts cannoi bc dircLili attributed io particular headin85 the>. hal'e been allocated on a basis consisieni ii'ith the use of resources. i1.ith central stsff Lost5 alloLaied on the basis ol- time St￿￿L and depreciaiion charge5 allocafrd on the portion of ihe asscl-s use. Othcr 5UPtK)rt L05ts ure r¢ li mi*'is lh¢ d¥'liniiic)n of a ihJrithbl¢ ¢()mpihny f()r IIK u?ryrt?raiii)n purp()%¢4. ALLI)rdin8lv. IhL' Lhariiable Lompan). 1% p)tL'ntiall)' ¢YemrA lft)m th¥ation in rL'%PLLi of inu)mL or Lapitdl gJddin% rL'LL'II'Lxi %iiihin LatLlbYciriL's LI)l-L'fL￿ M C-hapiLY 3 I l ()l-thL' C'cbrrrfirJiicin .1 dX.ILt 21111) 1)r %￿￿111)n ?5(? 1)I'ihi '] a¥atiiin lil. C'hdr¥LJblL (iains ALI 1992. 10 t￿. LXtL'nL suLh inLomL OT ¥dins dfL appliLd LxLIu%iNLlv Lharithbli puT￿)Il￿. THn%ible nxed assets Indiiidual li.XL'd Ll)%iin8 £51Kk.IK) or mÉ)re are inithll!. reLX)rded ai less anv %uhsequeni JLLumulaLed deprcLialion and subsC4ucnl accumulated impainneni losses. D¢prt¢l*tlon gnd *mortl$#tlo l)cprLiiatii)n is priil idlryj iin iangiblc filed a55¢ts so as to Mrile off the cosi or ialuation, 1¢55 any ¢slimatcd r¢5idual ialue, o%'er ¢h¢ir eX￿¢¢d useful ¢¢Ot￿mI¢ life as follows.. Asset tla55 -i.x(urLS & Fiitin8S Computcr F.quipmcnt Deprtci*tion method and rate Research and development RL5Larih and dLILliipillLni LI￿ndIlUre is WTilten olTa5 incurred. Page 10 Chelmsford Culturgl Development Trust Notes to the Fillancial Statemellts for the Year Ellded 31 March 2025 Trgde debtors Tradi. dLhtc)Th art ￿0UnL% due fn)m LUSii)mers for m¢r¢hanJis¢ s()Id or servi¢es perfi)tmed in the i)Tdinary course ot businLUg. Trade debiors are recognised initialli. ai the irdnsaeiion price. Thth. are subsequenils measured ai amortlsed cost Using the elTectii'e inieTest method. less proi'ision for impaimieni. A proi'iSiLin for ihe impainnenl of iTade debtor5 15 e5tsb1lsh￿ ivhen there 15 ()bjtilii'e ei'id¢ni¢ Ihai the Lharitsble L()mpanN ii'ill n()I be able t() L()IleLt ull amounis du¢ a¢¢ordirtg io th¢ original L¢mis ol'th¢ r¢ciii'abI¢￿. c.ash and cash equivalents C'ash and cash LqUl%'alent5 comprise cash on hand and call dew5its. and oihLr short-w'mi highlN' liquid inNLstrnLntS' thut url rL'udili' L(InvLrtibl¢ lo wni)unt ()f Lash und aTL %ubjLLI tsi an in%iBniliLunl ri%k lif LhangL in value. Trade creditors 'I'radL LfLdiii)rs arL obli8aii()ns to pa>. for s￿d5 or services that haNe kicn acquired in the (>rdinarv ci)urse i)f hu%inL%% Iriini .%uppliLr%. ALL(iunls pa¥ablc are Ll&K4ificd LufTeni liabilitiL4 If￿lL. LhaTitshlL U)rnpaii%' d()L% nL)t huvL an unL(Inditi(In411 ri¥hi. rfil ihL L￿d i)i- Ihl rLtYirtin¥ ￿r1r ui ILasi ii¥LII¢ m()nth% dil¥r IhL rLrrt)rting Ja¢¥. th¥%. arn. pr￿.￿¢￿xI as N)n*urr¢n¢ liabiliiics. 'I'rudL LfLdiliir% urL fLLiIBni%Lxl iniiiull) ai the irnn5aLlii)n price und subwucnilj mc&%urL'd ul amiirtl%Ld L()%t u.%inB IhL Ll'liLtiiL inlLrLsi mLih<)d. stru¢turt Ilnr¥%tri¥tid in¢i)m¥ funds ar¥. 8¢n¢ral funth thai ar¢ avail#bl¢ for us¢ ai th¢ tru¥l¢¢S'5 dI￿r￿lI)n in furth¥run¥¢ (IfthL' iihjL'LIIWLS l)rthL LhdriiablL' Ll)mpan%'. Ri.%lriLILd inLiimL funds aTL Ih(X%L d(Trnaled usc in a particular area or for srKLifiL PUTrmses. thL u%c ol'whiLh is rLStriLtLd to (hut or purw)5¢. Flnanolal Instrnmtnts C1￿551]1catIon Finanlial assets and linancial liabililics arc rcco8niscd ￿hL￿ thc charitablc eornpanv kcomes a pan). to thc contraclual proi'i5ion5 of the in51Turnerbl. l.'inancial liabilities and ¢qui¢i inslrum¢nts are cla55ified according ￿ the 5ub51ance of the conliarlual Jrrangim¥nts ¢nt¢r¢d intt?. An ¥quili" in51n]m¢ni is an! ￿￿nts￿l tha¢ ¢vid¢nffs a r¢sidual ini¢r¢st in ¢hr a5b¢ts' of Ihe charitable Ll)mpanv aftLr deduLtln8 all i)liis liabiliiies. Page 11 Chelmsford Culturgl Development Trust Notes to the Fillancial Statemellts for the Year Ellded 31 March 2025 3 Income from donation5 and legacit5 Unreslritted fulld$ Restricted fullds Total funds Total for 2028 Total for 2024 12,51M) 12.500 4 In¢ome from ¢horlt*ble a¢fl¥l¢l¢s Unresiricted funds Restri¢ted funds TotAI funds Funding t() 5uprA)rt Lharilable aLtivilie5 115.IX)O 161.448 276.4911 Toial for 2025 270.49 Toial for 2024 4 EApendlture on ¢h#rit#ble actiwitles Unreslr5t¢ed Rtstrirted funds Total funds l>ri)grammL Ik.liNcrJ l>mjciX5 l>ri)¥ramrnL Ik.lii'Lry - CJranLs Made lTrriTrgrummc Ih.livcry - C ul¢urn and 27.669 1.4Y¥ 27.669 1.4911 39231 39.231 Pri)¥rdmmL Ik.lii'LTr - Capacity 1.800 1.80U l)rogramrnc DL"livcry - Comrnuni(y l.-ngagemenl 825 825 Support COSt5 nihLr LXPL'n%L' 2.706 63.455 13.5?0 8.317 1.023 63.455 Goicmancc cost5 TotAI for 2025 82.A06 76.715 159.021 TotAI for 2024 17.472 81.850 99.322 Page 12 Chelmsford Culturgl Development Trust Notes to the Fillancial Statemellts for the Year Ellded 31 March 2025 6 Analysis of governance and sllPPOrt Costs GovernaDoe eosts Totol 2025 Totol 2024 IndcpLndLni c¥aminer lets Fx.OW during th¢ i"w. "rhe ai'erag¢ number ol-emploi"¢es durin8 tht )"ear. b!" head counL lias 212U24= 11 Thc total employee benefits of the ke). managcmenl personnel ofthe charitable eompany were £36.45912024 - 35.11631. Page 13 Chelmsford Culturgl Development Trust Notes to the Fillancial Statemellts for the Year Ellded 31 March 2025 9 Tangible fixed assets Computer e4uiprnent Total c.ost .Iddiiions At 31 Mar¢h 2025 D¢pr¢¢l•tlo C'harge fi)r IhL )'ear 90 At 31 MarLh 2025 90 Net book v8lu¢ At 31 MarLh 2U25 1.022 1.02? 10 D¢btors 2024 lJrLpa) mLnl% AILruLd inLx)mc 3.U51 I I I'.#$h and ¢8sh ¢qulty¥l¢nis 202.4 2024 Cash at bank h1.723 (If).782 12 C'redltors: amounts fxlllng due wlthln ont ve*r 2025 2024 "Irade creditor5 l)th¥r ta¥dtion and social sffurity" Pen%ii)n sLheme Lreditor 1.()15 5.770 365 1.968 1.659 168 1.854 Accruals 9.718 3.681 Page 14 Chelmsford Culturgl Development Trust Notes to the Fillancial Statemellts for the Year Ellded 31 March 2025 13 Fund5 Currenlyear.. Balance at 31 Nlarch 2025 B*lance il I Aprll 2024 R¢50urces expethdtd resources Tr*ttsftrs LlnrestriLted (reneral 20,601 11S,(MK 182.3061 495 53,790 R¢strl¢ttd ('hLlm.sliird Citi, C()unLil Mapping ChLlm%lord Cii}' Louniil 114.3951 605 10.i)¢ 18.3171 12.5(M>l 1.fy83 RLi%uI I)rKra H(iU.4L EJridyL ()Lial lJrLiiribing and Culiural ()pp)rtuni¢lL FiL.%Larch 2.51M) 51K) 151M)I 11.4981 An% C'iiunLiI l..nbTl4ind AC'I.. l>luLL l>urtnLr%hip C'hilm%li)rd C'i¢y C'()uoiil 1.498 125.OIM) 25.IXM) ?5.0(M) 149.5051 14951 Total re$trl¢t¢d 43.IXMI 161.41P8 176.7151 14951 127.211M Total funds 63.601 276.41P8 Page li Chelmsford Culturgl Development Trust Notes to the Fillancial Statemellts for the Year Ellded 31 March 2025 Prioryeor.. BAIAn¢e gt 31 March 2U24 Balanct *1 Incomillg resources Resourets expended April 2023 Transfers Llnre5tricted fund5 Unres¢ricledfunds UDrcsrri¢¢¢d CiLm¢ral 23.0111 12.5 117.4721 2.555 20.601 Resirltttd ChLlmslord Cil> CounLII Sei up &. LDre sULilin8 suprM)rt grant ChLlm.%li)rd Cit), Courjcil iraiLg} C'hLlms1iird C'it). C'ouncil Mappin Numhl'r I I I'hL Meudoths Rn>'al ()pLra I InuK. Ilridge 76.205 122.245 153.9601 14.0 12451 Il3.7551 I.(KK)I 11ts.86U 147,500 16.(MM) 9.2 2.5( 47.5(K) 2.500 C'uliural (IprrfinunitiL RL.%LaTLh Lhclm.%liird C'.it)' Louncil 500 25.111M) Toial resirl¢¢ed fund$ 76.205 51.21K 181.850 12.5551 Total funds 99.223 63.7 199.3221 63.601 Page 16 Chelmsford Culturgl Development Trust Notes to the Fillancial Statemellts for the Year Ellded 31 March 2025 The specitic purwses tor which the funds are io be applied are &$ folloM5= 11 'l'he Chelmsford Citi. Council Set up & core sthifing 511PIXbri grant I￿?5 fvnding to establish the IfwSU.%tsinahilitTr ()r lh¢ Lhariti.. 21 ThL ChLlmsford Ci¢). Council Str￿¢&1. grani a contribuiion ioiiards th¢ JciJ¢lopmcnt of Ch¢lmstord Cultural S(rate&N. 31 .1 hL C'hL1rn51ord City Council Mapyin8 8fdnt iix5 the dth'elopment of a Community Lngagement FTarDew(Irk. 41 ThL' ChL'lrn%l()rLI Cil) Ci)un¢il Creati￿.e Hub F¢&sibilil)" grani w&8 fundir)g to help the charil), u*se.%% ihe 'aiion ol-a Crn'atiii Hub in Ch¥lmslord. 51 '1'he Number I I Ihe Meadoii's il'as funding LO run ihe 'Nol I. projeci. pr%)vidin8 a Frf)p up with culiural fil ThL RI)￿￿1 0￿rU Hiiu.4L BriLl¥L ¥rJnt #grged io fund the l.(Kal C'ultural FAluLuli<)n PartnLr%hip. The lurtding ilas laiLr pr{￿￿ id¥d ¢() C'hLlmsli)rJ C'ili C()uniil li) IJL ihl I.CI.-P. 71 '1'hi 4oLial PrisLribin8 and Lultural op￿rtunI11¢S Rixyrch lund ￿$1$( ￿¢th a¢cL¥s needs ol- o locus ri)up. Ill'l'hL Arts C'i)unLiI l..n8land 8rJnl iuiyards ihc ￿)sL% t)fl..mcr8C. ()) I'hL Arts C()uniil l..n¥land grnnl lil dLIii'Lf 11 ￿x)p]L￿1('d cultural changLmakLr pft)8fLunme. l Ul 'l'hL ChLlmsli)rd C it}. Cc>uniil UK%PF funijing li)r rL%￿h and pil()tS ￿ Str¢'ng¢h¥n Luliural soLial pr¢￿rIbIng. 14 Analysls of nei #ss¢ts b¢¢w¢¢n futtds Tot•1 funds •t Ilnreslrlcted funds Restrltted funds 202.4 '] angibl¢ fi¥￿ &¥s¢ts C'urreni Currlnt liabilitiC5 1.022 62.4116 1.022 1¥9.774 19.7181 127.21$8 'I"olal nct a￿(5 53.7YO 127.288 Totil funds Ilt 31 f41arch Unrestricted funds Rtstritted fund5 2024 Currenl &%%Lbl% 20.601 46.681 1.3.681 67.282 13.6811 Currlnt liabilitiC5 Total nct a&8cts Page 17 Chelmsford Culturgl Development Trust Notes to the Fillancial Statemellts for the Year Ellded 31 March 2025 15 Related party transactions l)Iiring the i¥￿1r the Lht' £20.000 120?4- £nill li¥)m ihe LI)mpan￿. At ihc balanLL shLi( JatL" Ihe amount duL ts%'lrom Chelmslord Business ImproiemenLS Districi Ltsl lias £Nil 12024 16 Prlor year Statement of Firy•nci81 ATtivititS Tot#1 2024 Uttrtsirl¢t¢d Restrlet¢d Noi¢ Income Endowmeots from: l)unJliurt) and 12.5(Ml 51.200 'I'olal ineome 12.5(Ml Expendlture on: 17.472 81.R50 yg.3?2 i¥ial L.xrKndiiuN' 17.472 ¥l.X50 y41..122 NL% ixp¥ndiiur¢ 'I'rdnsfL'r% bl￿11¥l.Ln funds 14.9721 2.555 1.15.C?221 12.5551 NL71 m(Il'LmL'ni in lund ?.4171 133.2051 135,6221 Reconcili*tlon of fund5 .1 nlal I'und% brnughi li)niarJ ?3.018 7O.?{15 y4).22.1 "I'oial funds Larri¢d fonyard 13 0.601 43.()00 fi3.601 Page 18