charlty reglstratlon number: 1182588 Katie Bradford Arts Trust Annual Report and Flnanclal Statements for the Year Ended 30 June 2024 Fleld 5ulllvan Llmlted 9 Hare & Blllet Road London SE3 ORB
Katle Bradford Arts Trust Contents Reference and AdministratNe Detalls Trustee5' Report 2to4 Independent Exarnlner's Report Statement of Flnantlal Actlvhtles Balance Sheet Notes to the Flnanclal 5tstements 8t014
Katie Bradford Arts Trust Referen and Adminlstratlve Detslls Chair Katle 8radford Trustees Katle Bradford Tlmothy Dutton Josephlne Hilton Evelyn Sm5th Charity Re8lstratlon Number 1182588 Prlnclpal Office Flèt 1. 61 St Martin'5 Lane London WC2N 4JS Independent Examiner Fleld Sullivan Limited 9 Hare & Billet Road london SE3 ORB Sollcltors Russell-cooke LLP 8 Bedford Row London WCIR4BX Banker5 CAF Bank Ltd 25 Kln8s Hlll Aven¢Je Klng5 Hlll West Malling Kent ME19 4JQ Page I
Katle Bradford Arts Trust Trustees, Report The Trustees present theli annual report and financial statements of the eharlty for the year ended 30 lune 2024. Structuye Governan and Mana ement The ch&FIty is an unincorporated grant making trust constltuted and soverned by a Trust Deed dated 8 February 2019. It was re£lstered as a tharlty on 21 March 2019. It was establlshed by initial gifts from Katie Bradford. The charity does not actively fundralse. The charlty Wa5 Set up by 4 Inltlal trustees, who have all contlnued in that role through the year. The Trustees admlnlster the charity under the terms of the trust. and in accordance with statute and guldance. All trustees glve their time without charge. and no trustee rernuneration was paid during the year. There must be at least 3 trustees from time to tlrne. An Inltlal trustee Is to hold office untll they cease to be a trustee for one of the reasons in the Trust Deed. Thereafter, a further trustee is to be appointed as the Trust Deed provldes, by a resolution of the trustees at a special meeting.. in sÈle¢tlng persons to be trustee, the trustees are to have regard to the skills, knowledge and experlence needed for the effectlve adminlstratlon of the charitv. Ob ectives and Artlvltles ThÈ object of the charity as set out in its govepnlng document Is, for the publlc beneffit, to advance culture and the performance arts. particularly but not excluslvely by provldlng grants in support of tlieatre and opera. T.he Trustees have dlscussed approprlate criteria for grants and this process contlnues, with a written pollcy on grant making under development. The Trustees confiim they refer to the guldante contaoned In the Charity Commlsslon'5 general guidance on publlc beneflt when Feviewit7g the charitvs alms and objectives, in plannlng future activities and Setting the grant maklng policy for the year. Achlevem¢nts and Performance In the year covered by thls Report, the Trustees approved grants to 10 ¢haritle5 and paid grants to 9 charltles to support the pèrformlng arts.. the rernalning gfant was to Papatango Thealre Company to stspport thelr new writing prize and was paid at the start of the year cornmencing l July 2024. The Trustees progressed management, regulatory and admlnistratlve tasks so that the charity properly tarrbed out its objecls. The grants approved conlinued to be In pursuance of the established policy to form longer term relatlonshlps with those charities to whlch grants weye ghven. The grants paid in the year were to the following charities.. è the Connectlons piograwnme of the Royal National Theatre whlch commi5slons new short plays and supports schools and youth theatre companies across thè U.K. to piesent them locally. the JMK Memorial Trust which supports young and emerglng theatre dlrectors across the U.K. through an annual award. and development/ workshop opportunitles. the Shakespeare Nation programme of the Royal Shakespeare Company which is a community partlclpation programme run by the RSC and partner theatres around the U.K. aimed at enga8lng people who have Itttle or no experlence of Shakespeare. elther as a theatre-goer or performer. Pa8@ 2
Katie Bradford Arts Trust Trustees, Report (contlnuedl Clean Break Theatre Cofflpany which is a women'5 theatie company, tsslng theatre to keep the subject of women in prison on the cultural radar, through workshops, support and productlon5, both onllne and tourlng the U.K. Streetwlse Opera whlch Is a national opera company that enables people who have experienced homelessness to find Ilbspiration and empowerment. supporting particlpant5 to develop as creatlve people, and changlng how 50£iety views homele55ne55. Interact Stroke Support whlch uses professlonal actors to dellver a stimulating varlety of reading material selected to sult the need5 of a stroke patlent. within 18 hospitals and over 50 Stroke clubs across the ¢ountry. Pegasus Opera Company which provlde5 opportunities for artists from African and Asian herStage acr055 the U.K. promoting opera among people of all ages in underserved and culturally diverse communltle5. the Snappy Opera programme of Mahogany Opera whlth is a schools programme. making and performing new mlnpoperas.. thls year the focu5 contrnued into a speclallst school ISENDI. Graeae Theatre company whlch seek5 to change theatre and place Deaf, disabled and neurodivergent actors, writers and directors tentre Stage and challenge the perception5 of theatre-8oers. Flnancial Rqvlew As at 30 lune 2024. the charity had £73,239 tash in bank, £53,431 on medlum term deposlts and £200 In prernium L7onds. It retèived a further donat40n durlng the year. There is no commltment to further donations bul the Trustees have been informed that donatlon5 ale likely to be made In future year5. Aware of the nanclal pressures on many charitles In the performlng arts sector after the COVID-19 pandemic and wlth high Inflatlon and the cost of living increases In the year under report, the Trustees considered the appropriate position of the charity on grant giving and ieseTve5. They decided to tontirTrtJe to exercise cautlon In glving rants during the year: the Trustees confirmed their declsion that it wa5 not approprlate to g6ve grants for exislential or life and death causes, or to asslst or enable a rectplent financially to survlve short term. The Trustees declded that applications to support or progress work to be perfoimed. in person before an audlence or by vldeo, iwbcluding the support of art4St5, technical staff and activitres ancillary to or leadlng towards pÈrformance of such work, would be considered on thelr merlts. In addltlon, the Trustees declded that pafticular consideiatlon would be given to applicatlon5 from charities which encouraged participation in the performance arts by those often remote, disengaged or excluded from them. They also took into account whether the work of the appllcant charity had a purely lotal. or a wrder national effect. prefeiring the latter. The Trustees agreed and paid grants to 9 charitie5 which met ihose Crlteria. ès listed in the sectlon Achlevements and Performance. The Trustees declded It Wa5 appropriate to continue to hold reserves until they had a better overview of the likely level of grant-making goFng forward. In princTrple. in normal times, they consldered that reserves could be fairly rnodest, but they considered It approprlate. In the contlnvlng challenglng clrcumstances for the performance arts, to keep the positlon under revlew. Interest rates available on medlurn term deposits were strong through the year and the Trustees declded to fnaintain fvnds of approxirnatety £50,OOD in medlum term deposlts. The only commltted expendÉture is monthly bank charges. Page 3
Katle Bradford Arts Trust Trustees, Report {contlnued) Statement of Tru5toe5' Re5ponslbllitle$ The Trustees are responsible for preparing the Tfllstees, report and the financial ststements in accordance with the United Kingdom Accounting StandaTds (United Klngdom Generally Accepted Accountlng Pra¢tl¢el and appllcable law and regulatlons. The law applicable to tha¥itÈes reqvlres the Truslees to prepare financlal statements for each flnanclal year whlch glve a true and falr vlew of the state of affalrs of the charlty and of the Incomlng resources and appllcatlon of resources of the ¢harlty for that perlod. In preparlng these flnanclal statements, the Trustees are requiied to= select sultable accountlng pollcles and then apply them consistently,- obseNe the methods and prlnclples In the Chartties SOAP,. make judgernents and estlmates that are reasonable and prudent- state whether applicable accounting slandards have been followed, subject to any material departures dlsclosed and explained in the financial statements; and prepare the finantial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsTrble for keeping proper accounting records that disclose with reasonable accuracy at any tlme the financlal poslllon of the charlty and enable them to ensure that the financial statements comply with the Charities Act 2011. the Charitle5 (Accounts and Reports) RegulatloDs 2008, and the PTovlsions of the constitutlon. The Trustee5 are a150 re5ponslble for safeguarding the assets of the charity and hence for taklng reasonable 5tep5 for the prevention and detection of fraud and other irregularities. The Trustee5 are responslble for the malntenante and Integrlty of the corporate and financial Infom)atlon included on the charitable cornpany's webslte. Legislation governing the preparation and d1$5emlnation of ftnancial statements may dlffer from leglslation In otherlurisdictlons. The annual report was approved by the Trustees of the charity on 10 December 2024 and $4gned on thelr behalf bv.. Katle Bradford Chair Page 4
Katie Bradford Arts Trust Independent Examlner's Report to the trustees of Katie Bradford Arts Trust I report to the charlty Trustee5 on my examination of the accounts of the charity for the year ended 30 June 2024 whlch compF15e the Statement of Flnanclal Actlvltles. the Balance Sheet and related notes. Thi5 report is made 501ely to the charitW5 trustees, as a body, In accordance wlth section 145 of the Charltles Act 2011. My work has been undertaken so that I mlght state to the charlW5 trustees those matters l am requlred to state to thern in th15 report and for no othey puip05e. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the ¢harlW5 trustees as a body, for my work, for this report, or for the oplnlons I have formed. Re5ponsSbilities and b•sis of report As the charlty Trustees of Katie Bradford Arts Trust you are responsible for the prep3Tation of the a¢¢ounts In accordance with the requirements of the Charitle5 Act 20111'the ACVI. I report in respect of my examlnatlon of the Katle Bradford Arts Tfu5t's accounts Carrled out under sectlon 145 of the 2011 Act and In carrylng out my exafnination I have followed all the appllcable Oirectlon5 given by the Charity Comm155ion under section 14515llbl of the Act. An Independent eyaminatlon does llot InVoe gBthering all the evidente that would be required in an audit and consequently does not cover all the matters that an audltor ¢owTrsiders in giving their oplnlon on the financial statemènts. The plannlng and conduct of an audit goes beyond the limlted zs5urance that an Independent examination can provlde. Consequently l express no oplnlon as to whether the financial statements PTesent a 'trve and fair, view and my report is Ilmited to those specific mattèrs set out in the Independent eyaminerfs statement. Independent examlner's statement I have completed my examlnètlon. I confimi that no material matters have come to my attention in connectlon with the examination gNlng me cause to believe that in any material respect.. l. accountlng records were not kept In respect of Katie Bradford Arts Trust as requlred by sectlon 130 of the Act,. or 2. the financtal statements do not accord with those records,. or 3. the financ431 statements do not comply with the accounling requirements concernlng the fomi ènd content OF accounts set out in the Charities (Accounts and Reports) Regulatlons 2(n8 other than anv requlrernent that the accounts glve a 'true and falr vlew whith Is not a matter consldered as part of an independent examlnatlon. I have no concerns and have come across no other matters in connection with the examination to whlch attentlon should be drawn In thls report In order to enable a proper understandlng of the accounts to be reached. TIM Sulllvan FCA Fleld Sulllvan Llmlted 9 Hère & BÈllet Road London SE3 ORB Date.. Page 5
Katie Bradford Arts Trust IReglstration number: 1182588) Balance Sheet as at 30 June 2024 2024 2023 Note Flxed assets Investment5 io 200 200 Current assets Cash at bank and In hand li 126.671 115,284 Creditors: Amounts falling du• within one year 12 18931 1876 Net current assets 125,778 114,408 Net assets 125.978 114,608 Funds of the charlty: Unrestricted Income fund5 Unrestricted funds 125,978 114,608 Total funds 13 125,978 114,608 The flnancial statement5 on pages 6 to 14 were approved by the TTustee5. and authorTrsed for issue on 10 Dec ber 2024 and slgn on thelr behalf by.. Katie Bradford Chair The notes on page5 8 to 14 form an Integral part of these financi&l statements. Page 7
Katie Bradford Arts Trust Notes to the Flnanclal Statements for the Year Ended 30 June 2024 I Chaylty stattis The charlty Is domiciled in England and Wale5. The addless of Its registered offlce Is.. Flat 1, 61 St Martin's Lane WC2N 4JS 2 A¢count5ng policies statement of compllance The flnanctal statements have been prepared in accordance wlth Accountlng and Reportlng by Charities.. statement of Recommended Practice applicable to charities preparing their accounts in accordance wlth the Flnanclal Reporting 5tandaTd applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20191- (Charities SORP IFRS 1021- Second Èdition October 20191, the Financlal Reporting Standard appllcable In the UK and Republic of Ireland IFRS 1021. They also comply with the Companies Act 2006 and Charlties Act 2011. Ba515 ol Preparation Katle 8radford Arts Trust meets the deflnition of a public bÈnefit entity under FRS 102. The accounts Ifinanclal statemer¢ts1 have beÈn prepared under the histoilcal c05t convention wlth item5 recognised at cost or transaction value unless otheiwise stated in the relevant notelsl to these accounts. Going conrn The Trustees consider that there are no material UnrtaIntieS about the charity's abllity to continue as a 8oln8 concern. Judgements and key Sources of estimation uncertainty In the applicatlon of the charTrty's accounting pollcies, the Trustees are requlred to make ludgements, estlmates and a5svmptions about the carrylng amount of assets and liabilities that are not readlly apparent from other source5. The estimates and assoclated assumptions are based on hi5torlcal experlence and other factors that are considered to be fetevant. Actual results may dlffer from these estimates. The estlmates and underlylng assumptlons are reviewed on an ongoing basls. Revlslons to accountlng estlmates are recognlsed In the perlods In whlch the estimate Is revlsed where revisions aftect5 only that perlod. or In the period of the revislon and fUre periods where the revisions affe£ts both current and future periods. Income and endowments Voluntary income includlng donations, glfts, legacies and grants that provtde core fuhding or are of a genera nature is rèco8nlsed when the charity has entitlement to the income, it is prtsbable that the income will be received and the amount can be measured with sufflcient reliabi14ty. Donotion$ und legucies Donations and lÈga¢les are reco6nised on a recelvable basls when receipt Is probable and the amovnt can be reliably measuFed. Page 8
Katie Bradford Arts Trust Notes to the Flnanclal Statements for the YÈar Ended 30 June 2024 {contlnued) Investment income Dlvldends are recognised once the dlvldend has been declared and notificatlon has been recelved of the dlvidend due. Expenditure All expenditure 15 recognised once there is a legal or constructive obllgation to that expèndlture, It Is probaljle settlement És requlred and the amount can be measured rellably. All Costs are allocated to the appllcable expenditure heading that aggregate slmilar costs to that category. Where tosts cannot be dlrectly attributed to partlcular headlngs they have been allocated on a basis consistent with the use of resources, with central staff cost5 allocated on the basis of time spent, and depreciation chaT6es allocated on the portlon of the asset's use. Othet support Costs are alk)cated based on the spread of staff costs. Churltoble tIVItIeS Charltable expendlture compr15es those cost5 Incurred by the chaTÈty In the delfvery of its actlvltles and servlces for Its beneficlailes. It Include5 both costs that can be allocated directly to such activities and those cost5 of an andarect nature necessary to support thern. Grontprovisions Provlsions for grants are made when the Intention to make a grant ha5 been communicated to the reclpient but there Is uncertalnty about elther the tlmlng of the grant or the amount of grant payable. Support Costs Support costs Include central function5 and have been allocated to artivity cost categories on a basls consistent with the use of resources, for example, allocating property Costs by floor aieds, or per cap5ta. staff costs by the tlme spent and other costs by thelr usage. Taxatlon The charity is considered to pass the tests set out in Paragraph I Schedule 6 of the Flnance Act 2010 and therefore It meets the deflnStlon of a thaTltable cownpany for UK corporation tax purp05e5. Accordingly, the charlty Is potentlally exernpt fiom taxatlon In respect of income or capital galns received withln categorles covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such Income or galns are applled exCluse1¥ to charltable purposes. Flxed asset Investments Flxed asset investmerbt5, Other than programme related investments, are Included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the dlfference between sales proceeds and their market value at the start of the year. or thelr subsequent C05t, and are charged or credited to the Statemellt of Finarlcial Actbvltie5 in the perlod of disposal. Unreallsed galns and losses represent the movement In market value5 durlng the year and are credited or charged to the Staternent of Financlal Adivitres based on the market valve at the year end. Page 9
Katle 8radford Arts Trust Notes to the Flnanclal Statements for the Year Ended 30 June 20241contlnuedl Cash and cash equivalents Cash and cash equivalents comprise cash on hand and call deposlts. and other short-term highly Ilquid Investments that are readlly convertible to a known amount of cash and are subject to an in5igniflcant risk of change in value. Fund strudure Unrestrlcted income funds are general funds that are avallable for use at the Tru5tee5' discretion In furtherante of the obiectives of the charlty. Page 10
Katle Bradford Arts Trust Notes to the Flnanclal Statements for the Year Ended 30 June 2024 Icontinuedl 3 Income ffom donations and leg?cles Unyestrirted funds General Total 2024 Total 2023 Donatlons and legacies,. Donatlons from Individuals 60.000 15,IXJO 60,000 15.QOO 50,000 12.500 Gift aid reclaimed 75,orx) 75,000 62,500 4 Investment income Unrestricted funds General Total 2024 Total 2023 Interest recelvable and slmllar Income,. Interest receivable on bank deposits 2,324 2,324 997 S Expenditure on charltablè activltle5 Total 2024 Ttstal 2023 Note Grant fundlng of actlvitle5 Allocated support costs 65,000 954 65,000 1.065 65.954 66.065 6 Analysls of support costs Total 2024 Total 2023 Independent examlnatlon Bank charges 894 876 189 954 1,065 Page 11
Katie Bradford Arts Trust Notes to the Financial Statements for the Year Ended 30 June 2024 Icontlnuedl 7 Grant-m3kFng Analysis of grants The 5UPPOrt Costs assoclated with giant-making are £NII130June 2023- £NIII. Below are details of material grants made to Institutions. 2024 2023 Name of InstfjkutiDn 818 Glve Clean BreakTheatre Clean Break Theatre Artivlty 500 2,(X)O 1.000 1,500 1.000 Graeae Theatre Interact Stroke Support JMK Trust I,OOD iO,(YM) 1,000 10,000 2,000 2,000 25,000 20,OOL) 2,000 65.000 Mahosany Opera Group Pegasus Opera Royal National Theatre Royal Shakespeare Companv Streetwise Opera 25,000 20,000 2,000 65.OQN) 8 Trustee5 remuneration and eXpe9S No Trustees. nor any persons connected wlth them. have recelved any remunefatlon from the charlty durlng the year. No trustees have retelved any relmbvtsed expenses or any other benefits from the charlty durlngthe year. 9 Taxation The charity k a registered charity and is therefoTe exempt from taxatlon. Page 12
Katie Bradford Arts T¥ust Notes to the Financial Statements for the Year Ended 30 June 2024 (continued) 10 Fixed asset investment5 2024 2023 Other investments 2CK) other investments Llstèd investment5 Total Cost or Valuatlon At l July 2023 200 At 30 June 2024 200 200 Net book value At 30 June 2024 200 200 At 30 June 2023 200 200 11 Cash and cash equlvalents 2024 2023 Cash at bank 126,671 115.284 12 Credltors: amounts falllng du• wlthln one year 2024 2023 Accruals 893 876 Page 13
Katle Bradford Arts Trust Notes to the Flnancial Statements for the Year Ended 30 June 20241contlnued) 13 Fund5 Balance at I July 2023 Incomlng re50urce$ Resources expended Balan at 30 Jun¢ 2024 Unrestrlcted fuhd5 Gen¢ral 114,608 125,978 Balance at i JlY 2022 Intt*mlni r050urces ReSoUT5 expended lance at 30 June 2023 Unrestrlrted fvnd5 General 117,176 114,608 14 Analy51s of net assets between funds Unrestrlcted funds General Total lunds èt 30June 2024 Flxed asset Investments Current assets 200 200 126,671 1893 126,671 1893 Cltsrreni lialjllities Total net assets 125,978 125,978 Unrestrlctèd fund5 General Total funds at 30 June 2023 Flxed asset Investments Current assets Current liabllities 200 115,284 18761 115,284 18761 Total net a55ets 114,608 114,608 15 Related partytransactlons Durlng the year the charity made the following related party transactlons.. Katle Biadford (Chairl Ms B¥adford donated £60,00012023: £50.OWI to the charity duhng the perlod. At the balance sheet date the amount due tolfrom Katle Bradford was £Nil12023 £Nill. Page 14