REGISTERED COAIPANY NUMBER.. 07840762 (England and Wale51 REGISTERED CHARrtY NUM6ER.' 1188670 REPORT OFTHE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 FOR CITRUS ARTS LIMITED MHA Etfed House Oak free Court Cardiff Gate Business Park CARDIFF CF23 8RS
CITRUS ARTS LIfvIITEQ CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Pag9 Report ofthe Trustees Independent Examlnerfs Report ststement of Financial Activities Balance Sheet Notes to the Financial Statsments 10 to 18
CITRUS ARTS LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The trustee5, who are also directors of the charity for the purp05e5 01 the Companies Act 2006, psent their POrt wlth th8 financial statements ol the charity for the year ended 31 March 2024. The twstees have adopted tho prOs1onS of A¢wunting and Reporting by Charitles.. Statement of Recmrnended Practi applicable tts charitie5 p¥epaThng their accounts in a¢¢ordan¢e with th8 Financial Reporbng Standard appJi¢able ui the UK and Republic ol Ireland IFRS 1021 (effective 1 January 2019}. OBJECTIVES AND ACTIVITIES Objedives and aims Th8 obje¢ls forwhich the Company Is estabtish8d ar6'.- 11 The promobon of oducation and training in the creative and artistic appN¢ation of 8xpr85sive Brts in artistic perfomiance. 21 The promots.on and trainlng in eXpSSiVe arts 8nd other recreational aCtivleS in the interests of social welfare for the benefi15 01 the public with the oblecl of improving the quality ol life. Crtrus Arts is a wmmunity art5 charity based in Pontypridd. The company was founded by Brfdle & JamBS Ooyle-Roberts In 2009 as a Company Limited by Guarante8 and re-¢onstitLrted as a charitsble company In 2020. The organi5ats.on contracts the Services of on8 full time and two part-time members tsf staff and a range of freelance p8rfomiers and 8rt1Sts. There is also an annual cohort ol young tralnees, offering 16-30 ye8r old NEETS from th8 lttal are8 the opportunity lor paid wod( alongside the Citru5 tearn. learning 8 r8r*Je of transferable s11$ along the way. The main aetivities are'.- Creatlon ol perfomiance, spectacles and creativ8 installation works for public engagement. Classes, workshops and creative projects for young people, famllies, Seniors and community members. Prof85sional tralning, rnentoring and 8UPPOrt lor a$t$ al diffenI stage5 of thelr career. H05th'ng social and recre81ional adivib.es for the local Hopkinstown cornmunily al Hopkinsiown Hall and in local outdoor spa$ le.g. Great Westem Colliery Wlnding House. Barry Sidings. Co8dpenmaen Cornmonl. These activities align with the ntext of the wder work i.e. community feasts. family rave5, NT LNe screEning5. eomrnunity p8rforrnances, consullati¢)n events and creative activlly days. The chartty's key obl¢¢¢lv•$ for 2023-24 woro to'.- Progress th8 process gf transfer of ownership to Citws of our compafjy ba58 at Hopkin5town Hall from RWOAWA (Rhondda Ward Old Age Welfare Assodalon}. Secure c funding to support core actimtios. Piloi antj devebp th& Artworkers scheme for 16-30 year old NEETS. Relaunch our regular programme ol classes for people 3+ (Pipsl. Establish a pattem of working to an annual theme with a# activity falling underlhis trerne. devebped in collaboration witN our community. Page 1
CITRUS ARTS LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The most slgnificant event ol the 20234 financAal year wa5 the 8ut)mission on 31 March 2023 of an appllcatlon to Arts Council of Wales to b8 a part of their portr1 of regularfy funded organlsatM)ns for the fitst tirne. In O¢tob9r 2023 we W8re noufied that our application had been successful. meaning the months of Intensive work on our Business Plan and the apICatiOn itself had been worthwhlle. The offer from ACW wa5 just over 50QA of what was requested. including a further 10.SYa Cut followtng the Welsh Govemrnent cuts to th8 arts announced in January 2024. The final offer lo Citrus was foT £97,500 peryear for 3 years, commencing on 1 April 2024. Wlth the nonqcontinuance ol pockets of covid in5pir8d funding. Such as the Summer of Smiles aetivity money offered over the last fow yeats, our programrne of responsive workshop basod activlty was qulator than in prav¢ou5 years. However. this gave us 8pace to develop our own projeGts. 2023 was Cltrus inaugural U)emed year Tho Year of Home. The focal point ol the year was the annual spactacl8. During our communlty consultatr.on sesslons and convetsations that we hdd Tegularly, issues of housing. home and land ownership had been raised repeatedly. We developed the project Ty Unnos in sponSe lo this. Ty Unnos Over one chilly October evenlng, a group of young p808 IArtworkers- see below) worked alongside a local fim) of builders (The Frowen Brother51 and a Bristol based eco- architect lo erect a'one night house, on ¢ornmon land. Over 400 people tumed out to watch. In line with our aims lo Increase access to quality ¢atiV events for tho peop18 of Ponty, th8 event was free to attend. The day following the lId. Artworkers hosted a day of comrnunity workshops 8nd conversations, including a campfi. 259 att6ndad Mark Andwson's Son installatson that we hosted on its Wales tour to close our event on the Saturday afternoon and evening. Artworkers In the 2 weeks leadlrrfJ up to Ty Unnos 115elf, 13 young people participated in 2 weeks of paid Iralnlng In outdoor arts technlcal Ski$. This was the ffrst time we had off8r8d a full time ArNvorkers training programme. The programrne Is airned at 16-30 year olds not in education. ernployment or training, and seeks to provide meaningful work to stem the 8xodus of young 0P}e 18aving Pontypridd as they can't see a way lo find decent work here. Artworkers 15 also a way of training the Wales based event crews of the future, providiTra an alt8mative to production companies hamng to hire ¢wS from Manchester and otherci118S. Highlights of Ihe training were 2 days with T and M SerVIs leaming al)out outdoor lighting d8sign a1 rigglng, ¢ulmin8ts'n9 in the youn9 people lighting the extertor of Hopkinstown Hall at dusk for th8 local comrnunjty to enjoy. Another highlight wa5 the cohort working Wbth Mark Anderson's tearn to colle¢t'found sound" and create their own digital soutKlscape5. They a150 Iov8d mggting Greenpeace's main climber- the woman who does all of the aerfal installatlon suth a5 covering the Pm's house in bkqck fabric- ¢0 leam al)out safe work at helght and hamess skills. Artworkers led Citrus, presence at Beyond the Border festival in Camiathen we showcased new female led comparsy Cott8ctiv8 Fli9hVs first work. Swyn. ArbYorker$ supported Ihls perfomianca knd also did pyrotechni¢ work and led family arts and circus workshops and street games. There was a further 2 week Artworker training programme teading up to Lighfs in Bute Park. This saw nowned production company, From th8 Fi8ld5, provide a s¥Jnificant grant for Athorkers to design and develop a set ol large $¢8le welded 18ntems for Cardiffs mainstream Christmas Ilght trail. Artworkets bullt creaovely finlshed a set of terraced valleys houses (to fit with our annual thernel, wjrking alongside leadin9 Wales based artist$ Rob Hill and Kate Verity. They also w(Kked with composer 8nd sound designer Rowan Talbot to wllect bilingual narratlves on the theme of home which fomied parl of Ihe installation. Page 2
CITRUS ARTS LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Hall Host During thg ygar wo We able io recrltlt, thanks to National Lottèry Cost of knvirrtj Funding, a Han HOSL This Tole enab$ us to open the hall up MO regularfy lat least 2 days a weekl for the community to drop in and use. We publici5ed hot desklng, free wifi and refreshments. While this was very well received, It was ntst widely used othtsr than by fatnil8s of our Pips childfen, and we're ¢urrently developing ways to Improve Incidental comrnunity use (rf Ihg spa. ste19aMe CSreus In the Autumn, we hosted a week of trainirsg and live lesling for a new way of delivering facilitator-18d circus worfKshops. Part of the reason for this was wanting io set ourselves apart from other organsatk)ns who host 'open bo drcus for events and festivals. We aLso wanted to irnbue Èll of our activity with the same level of artistry, creativty and Imaginats'on. We inwted around 8 loeal creative professionals, not all circus artists Iwe Induded actors and tnusicians for ÈXarneI to work wtth us, led by the amazing clown George Orange, to create a new way of leading CoMnity workshops. We tested this oul to great SUC$$ thanks to Barry Sidings Country Park providing us with outdoor spac£. Over 60 lamily members came to play wth us one sunny afterncA)n. The barrier to rolling out this way of leading workshops 15 Cost - to be truly creative and playful, workshops need lo be led by a dlverse team and have mor8 "pars of hand5. to facilitate im8gin8tiv8 games and role play. This pushes up the cost and bookers leg schools and wmrnunity groups} can't justify Ihis spend. This thinking 1$ bubbling ahyay though 85 we're sbll interested in finding a way to make it work. Comrnunity Days We hosted r8gular community days Induding circus play, 8 foraging walk and ccok up and a haw day sesslon with 12 adults who eXplod through ¢reatNe activty. how Citrus 8t Hopktnstown Hall can be rmre usefEJl to our thal community. Pips We relaunched wr progrnmme ol subsldised weeY cireus cl8ss8s for ag88 3+ and bullt up i0 47 iegylarly attending members by year end. Our Hall Host ¢nsur8d thi5 was an opportunity for us to contlnually keep In touch wlth a#d talk tg our comrnunity Of parents and rarers while they wailed for Children Sn Classes. Hosting and artist developmen¢ As well as our own activity, we also hosted a ranga of ¢otnpanies 8nd individuals at Hopkinstown Hall to develop th•lr own work. In addition to providing rehearsall practi space. we a150 offe use of our workshop, rneeting room, rèsoure8s and 8quiprnent and mentoring eg in artistic development and fundraising. This aspect of our work included hosb'ng Nofil$t8te Circus for 2 weeks of reheaTsal for the5r new show. Bamboo and hosttrn9 RCT3 youn9 artist network. Make Itl Live (Valleys Kidsl showcaso evènt. Public bonerrt Th8 tNstees can confirm that they have mplIed wlh the duty in Section 17 of the Charih85 Act 2011 to have due ard lo public benefit guidance published by the Charity Commission. Significant a¢t4Mts that we undertook during the af Ihat dorYK)nstr8le public benefit are set out here:. Wel¢orne over 500 people for free over the course ol a weekend to watch a perf¢yrnance InStlatIon and participate In a range of tre8tive workshops éxploring the themes of hou$iry and home. Continued th8 process (supported pro bono by Evershedsl of transferring the ownership of Hopkinstown H1 from RWOAWA to Citrus, for continued publ benefit. Provided education & oUta¢h projects 5UPPOrted by a range of organisation5 and cornmuntly setbn93 across South Wales, involving free, lurf 8858ion8 for families and young people to lake part in cwtive acllvlues as circus sknlls and'make and lake.. Provided free regular community day activities 8t Hopklnstovm Hall for all 8ges. Piloted Artwotkers, a new training prframMe for young people aged 1640 lo galn skills and experience in outdoor arts and av8nt rnanagernent, Increasing employability, skills and confiden. This projeet createtj paid ernployrnent for 13 peop not In employment education or training INEETS) over the course of a year. One young woman who at1he stari of trainit¥J was living in 8 hostel forvylnerably housed people and couldnl soè the polnt In trylng to break the benefit cycle. gained confidence and 9W her aspirations and now Ilves In her own ftat and has a job. Anolher partlcipant gaineL# full time work with one of our partner delivery OrganisatOn. Run subsidlsed weekly or¢us classes for children aged 3+ vAth 47 children Tegularty attending by the end of the financial year. Page 3
CITRUS ARTS LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 MARCH 2024 Chalitable activities Sinco 2019 CitW5 have been involved in a partnershlp to make Hopklnstown Hall their base ol opera¢lons and re-inwgorate this space as a community asset and venue. After th8 repair works we completed in 2021-2022 we Citrus Arls wer8 very fortunate to be able to 5ecuie grant 8upport from a number of sources that support all the different strands ol our work. This provided a range of opportunities lor tyjr youth and fr88lance team and enabled the organisation to continue to employ its small cor& team ol fr8elanc8r8. During this time, we were ab16 to continue to secure our base of op8ratk)ns. Hopkins(own Hall whlch is al a critical stage of dev81opment for bolh organisabons. FINANCIAL REVIEW The financial iesulls for the year ended 31 March 2024 are shown in the attached financial sta18fflen. Total income for the year was £167,437. Of Ihis. £109,569 related to restricted grant income and £57,868 was unrestricted Income. Totsl expenditure for the year was £228,771. The results report net exper1{Ure on restricted lunds of £173,001) and a net surplus on unre5tikted funds of £11,667. The nel experKJiture on re5trKted funds is a result ol timing only due to restricted funds brought forward to tho year. Total funds at 31 Mareh 2024 werè £18.600, of thich £1.161 was restricted funds and £17,439 unrestricted funds. R858rves pollcy At 31 March 2024 the charty held free reserve5 01 £9.924 Ibeing unrestricted lunds of £17.439 less those fund5 tied up in fixed aets of £7,515). As a previously nt)Tr core funded organisation, wnning almost ents.refy on ¥èstsict8d activity grants from a variety of trusts and fouridations, buildirig reserves has been acutely challenging. The board of trusiees aim to build Ihe tharty5 reseNes lo include a minimurn of £30,000 tree reserves (which represenis 3 months ol fix8d running costs plus additional winding down costsl and ideally a surn which would include other potentlal Costs suth 8s buildirs repairs and unforeseen equipment needs. The trustees lusl.fy holdlng reserves that would b8 requir8d for Ihe safe and ethical functioning of the Charity and similarly an ethical witKling down should unforgseen circumstances trigger suth an eventuality. The trustees do not support the nnecessary lding of undesignaled reserves as they understand that monies received should be used for the actlvlty of the charity and for the benefit of Citrus, bEn8ficiari8S. The board aim5 to build svch reserves thrgh a fvll assessment In 2024-25 of Citrus. FCR operations. They also ptan to axplor8 and develop previously unexploited potential In individual ging linduding digital furxlraisingl and Increase eamed income via increased paid acts"vity. hires and dasses at Hopkinslown Hall. Page 4
CITRUS ARTS UMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 FUTURE PLANS In October 2023 we We notifjad that our application to Arts Council Wales for 3 years of core lurJding had been successful. We now plan ¢0 submit a small number of other Sl9nificant multi. year applications to e.g. Foe Foundallon and Paul Hamlyn Foundation lo rn8tch Ihis funding. We plan to ass8ss the role ol ExeoJtNe Director and continue ¢0 evaluate wh6thar Ihe role needs to increase lo full lime. We a150 plan an overhaul of our Pips programme lo ensure w6 attrad teenagers as well as younger children lour membership is currently suffering from the Covid gap'l and to potentlally put in pla a Clrcus Coordillator to oveTs8e 8nd evaluate all of our gUlar classes, wtth a view to potentialty 8xpanding our offer In fLrture, There #re plans lo continue and develop our Artworkers programme lop young people 16-30 to learn skills in event managomenl, design & constwctlon lor performance and productlon work vthh a view to Providing paid ernployrnenl in the future. An appli¢ath"on to Wd5h Government Event Sector is 5ti11 pending at this point due lo WG lunding éeclsion freezes. A grant would fund Artworker trainlng in 24-25 and a dedicated producer to ovetsee and plan the work. We have secured ACW project fundlng to research and develop our Annual Spectacle for 2024- ¢Jelayed inio 2025 due to ACW funding delays- based on the tradib'onal Min8Vs Gala. possibly staged at Rhondda Heritag8 Path. Wg will conllnue workSng wllh Eversheds Sdiators to finalise the process of transferring ¢*ership of Hopkirfslown hall to Citws Arts. We aim to recru4t 34 further new tw$¢ees Indudlng a new chair. STRUCTURE, GOVERNANCE AND MANAGEMENT Governlny document Citrus Arts Is 8 charitable cornpany lirnited by guarantee, incorporated on 9 November 2011 and wistered as a charity on 20 March 2020. Its 9overning document5 are ils M&mordndum and Aitdes of Asso¢Eation. adopt8d on inmrporation In 2071 and amended by speclal re501utl¢n in August 2016 and again in December 2019. Durlng 2023-24 One TnJst8es rgslgned.. Asa Malmsten Ichairl on 19th MArth 2024. Recrultm•nt and appolnlm•nt ol new trusle¢$ T¥ustees are appointed, removed or retire by resolution of the trustees at 8oanl rneetings orAnnual General IAeeting. Organisatlc•nal structure Cilrus has a Board of Trust8es who are also lh8 Board of Direclcws with a Chalr and Vica Chair. There is I full tlme and Part-time Senlor Management one of hvhich acts as Company Secyetary. Citrus h3$ 2 part-tirne offKe staff and engage freelancers for all other employment roles. Indu¢tlDn and tralnlng of new tfustees New board rnernb8r5 benefit from an induction Fthor to their first board m88ting and are rnade aware of their sponsibiliÉ4e$, in accordance wth The Charity Cornmission lor England and Wales Guvjance The essenb'at trustee- what you need to know, what you need to do.. Th& trus18e5 the forn of the Board of Management ara r05ponslbte fgr the overall strategic development and control of lh8 ch8rity's actsvitses. Sub-commlttees may also &xisl to doal with various issues. Day to day operational ffj8nagement of the charity Is d8gated by the tnJ$tees to thelr Senlor Management team, James Dgyle- Robert5. Beth House and Bridle Doyle-Rob&rts. The trustees have conducted a VW of the major risks to which the charity is exposed and Systerns have been eslablished to minltnis8 those risks. REFERENCE AND ADMINISTRATIVE DETAILS Reglstergd Company number 07840762 IEngland Wale51 Registered Charity number 1188670 Page S
CITRUS ARTS LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 Règlstered office 1 Foundry Rd, Hopkinslown Pontypridd Rhondd8 Cynon Taff CF37 2RA Trustees D R 8axter A K Malmslen N Young N Pugh J Mccallion J Purnell Chair (Vice Chair until 191031241 Previous Chair {tsntil resignation) Resigned 19103R4 Appointed 30111123 S¢nior managafflont J Doyle-Roberts B J Doe Roberts 8 House Artisti¢ Director Co-Executive Director C%TrExecutive Director Company Secretary B Doyle-Roberts Indepèndent Examlnèr MHA (trading name ol Maclntyre Hud50n LLPI Limrted Irability partnership in England & Wales RegiSted number OC312313 Elled House Oak Tree Court Cardiff Gate Business Park CARDIFF County of Cardiff CF23 8RS Bankers Unity Trust Bank PIC Four Brindleyplace 8irmTrngham B1 2JB Solicitors Evershgdg G8rdiff Approved by order of the Board olTruslees on 12 November 2024 and signed on ts behalf by.. D R Baxter- Trustee Page 6
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF CITRUS ARTS LIIIIITED Independent examiner's report to the trustees of Cltru$ Arts LFmited Ilh8 Cornparry'} I report to the charty tslee5 on my examination of the accounts of the Cornpany for the year ended 31 March 2024. Respons)11t1¢s and bas1$ of mport As the charitys trustees of the Cornpany land also its directors for the purposes of cornpany lawl you are respon$Sble for the preparation of the accounts in accordance with the requirements of th8 Companies Act 2006 (Iho 2006 Acri. Having satisfied myself that th8 accounts of the Company aro not requlred to be audited under Part 16 01 Ihe 2006 Act and arè eligible for ind8pendent examinats"on. l port in respect of rny examination ol your charitys accounts a5 carried out und8r Section 145 of the chane$ A¢1 2011 I'the 2011 Acl'l. In carrying out my examination I havè followsd the Directions given by the Charity Commission under Section 145151 Ib} of the 2011 Act. Independent exarnlne5 Stat¢m¢nt I have cornpfeled my examination. I confirm that no matters h8ve ttjme to my attention In connection th8 examination giving me cause to beli&ve' accounting records were not kept Sn rospect of the Company as required by Sectlon 386 of thè 2CK16 Act.. or the accounts do not accord with those records., or the accounts do not comply with the a¢¢ountiNJ requirement5 of S8ction 396 of Ihe 2(K)6 Act other tharn any requirement that the 8cwunts glve a true and fair view wttich is not a matter considered as part of an independent examination.. or Ihe acLotJnls have not been ppared in accordan¢g with the methods and prfnoples of Ihe Stal8ment of Recommended Prac*'ce ftjr accounting and reporting by charitie5 (applicable to charities preparing Ihelr accounts in accordan(x with the Financial Reporting Standard applirable tn the UK and Republ¢c ol Ireland IFRS 10211. I have no concems and have corn6 across no oth8r matters in lnectIOn wllh ¢he examinatitsn to whlth attention should be drawn In Ihis report In ordgrto enable a proper undevJtanding of the accounts lo be reached. Julia Mortimer FCCA MHA Itrading name of Maclntyre Hudson LLPI Lirniled liability partnership In Engl&nd & Walés Registered nuFnber OC312313 Emed House Oak Tree Court Cardifl Gate Buslness Park CARDIFF CF23 8RS Page 7
CITRUS ARTS LIMITED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2024 2024 Totsl funds 2023 Total funds Unrègtdcted lund RgstrKted funds Not85 INCOME AND ENDOWMENTS FROM Donations and legaeS 129 129 130 Charl¢able a¢tlvltlts The promotion of education and training In artistic performance 55,161 109,569 164,730 222,272 Other trading acts'wtles 2.578 2.578 1.130 Totsl 109.569 167437 223.532 EXPENDITVRE ON Charitable a¢tivitie5 The prornotion of 8ducatKJn and training in artlstrc perfomiance 46,201 182.570 228.TT1 192 693 NET IN¢OMEI(expENDITUREI 11.667 173.0011 161,3341 30,839 RECONCILIATION OF FUNDS Total funds broughl fomard 5.772 74.162 79,934 49,095 TOTAL FUNDS CARRIED FORWARD 17,439 1.161 18.600 79,934 The notes form part of Ihese financial 8tatgm8nts Pagg 8
ctTRUS ARTS LIMITED BALANCE SHEET 31 MARCH 2024 2024 Tolal funds 2023 Total funds Unrestricted fund Restricted ful$ Notes FIXED ASSETS Tangible assets 13 7.515 7,515 10,810 CURRENT ASSETS Debtors Cash al bank and in hand 14 21,211 5,680 21,211 6,841 45,667 29,274 1.161 26,891 1,161 28,052 74,941 CREDITORS Amounts falling due within one year 15 116,9671 116,9671 15,8171 NET CURRENT ASSETS 9.924 11,085 TOTAL ASSETS LESS CURRENT LIABILITIES 17,439 1,161 18.fjCK) 79,934 NEf ASSETS 1.161 18.6 79,934 FUNDS Unrestricted n$ Restricted fvnds 16 17,439 1,161 5.772 TOTAL FUNDS 18.600 79,934 The charitable company 1$ enlilled lo exemption from audit under Sects'on 477 of the Companies Act 20(6 for the year ended 31 March 2024. The members have not required the company to obtain èn avdrf( of its financjal statements for the year ended 31 March 2024 in accordance with Section 476 01 the Companies A¢¢ 2006. The trustees acknedge their pOnsIbIlitieS for la) ensuring that the charitable company keeps accounting iacords that comply with Sections 386 and 387 of the Companies Act 21X)6 and preparing finanaal stat8rnenls which give a true and fair of the slate of affairs of the charitable company as at the end ol each finanaal year and of its surplus or defiat for each financial year in accordance with the requirements of Sedions 394 and 395 and which otherwise comply with the requirements of the Companies Acl 2006 relating to financial st8lemenls, so far as applicable to thè charitable company. {bl These finanaal statements havé been prepared in accordance wth the provlsion$ applicable lo charitable o)rnpanies subject to the small companles regime. The financial statements were approved by Ihe Board of Trustees and aulhorised for issue on 12 November 2024 and were signed on its behall by.. D R Baxter- Trustee The nol¢$ fotm part of these financial statements Page 9
CITRUS ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 STATUTORY INFORMATION Citrus Arts Limited is a registered charity and private company litnit6d by guarantee. It has no sharg capital and Is incorporated in Wales ui the United Klngdom. The registered office is 1 Foundry Road, Hopkinslown. Ponlywtdd. CF37 2RA. The nature tsf the company's op8rations and prin¢lpal acbwtles Is dlscbsed thIn the Report of th8 TFu$te88. Each of the trustees is Ilable to contributè an 8mount not exceedin9 £1 towards the assets of the charity In the event of liquidats'on. The fJnaTrcial statements a psented in Steding 1£). Ihe company's functional ¢urretry, 8nd rounded to the nearesf pound. Th8 signrficant accounting policies applied in the preparatn of Ihese ffinan¢ial statements are set out below. These pollcies have been consistenuy applied to all years pre3en18d unless otherrise sts¢ed. ACCOUNTING POLICIES Basls of prepartng thè flnanclal statements The financial statements of the charitab18 company, which 1$ a public benefit entlty under FRS 102, have been prepared in accordance with the Charides SORP IFRS 1021 'AccountityJ and R8wrting by Charities.. Statement of Recommende(I Praclce opplicable to charities preparing their accounts in accordan wilh the Financial RefM)rting Standard applicable in the UK and Rerwbllc of Ireland IFRS 1021 leffecllve 1 January 20191,, Fin3nciat Reporting Standard 102 Tre Finan0 Report9 Slanoard applicable In the UK and Republic of Ireland. and the Companies Act 2006. The flnanclal stat6m6nts hav8 b88n prepared und8r the hrstgri¢J 5t ConvenOn. There have been no material d8partures Irorn FinanrA81 Reporting Standard 102. Golng concern No material uncertaSnties relate(I lo events or condrt50n5 exL%l Ihal may cash signffjicant doubt upon the chailvs ability to continue as 2 going Concern. The trustees are sabsfied that based upon finan¢o1 projection5 and cashflow rn3nagern8nt, it is appropriate for the charittys financial statements to be prepared on a gcNng (x)n¢em basls and hav8 concluded that nr) adjustments or addits.onal disclosures a required to the financial statements at this time. Income All incom9 is recognised in the Statoment of Financial Activities once thè charity has •tmOnt to the funds, it ¢5 probable that the Income will be received and th8 amount cAn be m8a$ured reliably. This inc¢ud&s rApitsl grants. DOnaonS and le9acies incorne includes (Sonation5, gifts and grant$ that provide core ftjnding or ale of a generdl nature are recognised where there is entiI8rnent, probability of receipt and the anKJunt can be rneasufed wilh sufficient r81iabS1ty. Such income is only deferred when the donor sperAfies it must be used In future ac¢ounQng periods or the donor has imposed eoryjib'ons which rnu5t be m8t belore Ihe charity has urtconditional entsuement. Income Irom charrtable activities includes income received under Contract or where entitlernènt to grantfiJndi)g is subject to speclfic perfom)an¢e conditions. This Income recogn15ed where there is entillernent, when the ceipl is probable, and the arnount can be measured reliably. Income is deferred when th8 am¢)unts receNj arè in advance of the performance of the servic4 or event to whSch they relate. other trading aCtItIeS Is recognlsed as th• relatèd servic85 are providgd 8nd ther8 is 0ntiu9nnt. probability c receipt and the amount can be measured with sufficient reliability. Income is deferred when the amounts receiv8d are in advan¢e of the ddNery of the se1¢e tsr evenl tts which it r8lat8S. Invesirnent income is r8cognised on a receniable basis. Pag8 10 conlJnued...
CITRUS ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- continued Expendlture Liabilitie5 are recogni5ed as expendlture as s¢)on 85 th8re is a legal or ¢onslructive obligation Committing Ihe charity to that expencliture, it Is prob3ble that a transfer of enoMiC benefits wll be required in s8tUemenl and the amount of the obligation can b8 measured lIablY. Expenditure is accounted for on an a¢¢nJals basis Ènd has been dasSed under headings that aggregate all cost related to the category. Where Costs cannot be directly attributed to pat"¢ular theadings, they have been &bcated to aclivSQ"es on a basls eonsis18nt wrth the use ol $OUrCes. Exp$rYJiture on charitable activities cornpri5&s thoge (xs5ts incuffed by the Sn the dellvery of its actiwties and services for ils benefiuaries. It indudes both costs that can be allo¢aled directty to such activities and those costs of an Indirect nature lo support them. Support costs are Ihose ¢osls that, whiJ5t n053ry to deliver an activlty. do not thèmsèlves produce of constytule the output ol the charftable activity. This Includes govemance costs which are those costs associated Yath meeting the constitutional and stalulory fèquiretnent5 of the charity and include Ihe accountancy fees and costs linked to the strategic management of Ihe charity as well as a propotion of salades based on an approximation oftime spent in thi5 area. Tangible fixed assets Tangible fixed assets are stated at eost less accumulated depreciabon. Cost Includes costs directty 8ttrtbutabl8 to maktng the asset capable of operating a5 intended. DepCiatIOn is providgd 8¢ rates calujlated to wrile off fixed assets. less their estimated residual value. ov8r their expected useful Ibves on the follovang ba58s.-- Plant and machinery 20% on cost Taxation The charily 1$ exempt from c¢wration lax on its Charitable activthes. Fund a¢¢ounting Unr8stricted fvnds can be used in acco¥dance th8 charitable objectives at the discreti¢)n of the trustees. Restricted funds can only be us8d for particular reslricted purposes within the objects of the chaiity. RestrKtions arise when specrfied by the donor or when funds are rais8d for particular Testricied purposes. Further explar4tion of the nature and purpose ol each fund induded in the t)ot&s to the financial Slaterfnts. Flnanelal Instrurnents The charity only has finandal assets and financial liabllilies of a kind thal Qualify as basic financial instruments. Basic financial instruments are initially r8¢0gnised al transactwjn value and subsequenuy measured al their settlempnt value. Del>t¢*rs Debtors th no stated int8r8St rale and CeIVable withln one year ère rded at transaction price. Any losses arising from impaiment are recognised in expenditure. Prepayment5 are valued at the arnount ppaIrt of any trade discounts due. Credltors CreditoT5 are recognised Whe the tharity has a present ObgatIOn re5utting from a past event Ihat 11 probably result in the transfer of funtjs to a Ihir(J party and the amount due lo settle the obligation can be tneasured estirnated reliably. Creditors are n¢%malty recognised at thoir 58tllement 8rnounl after allowing for any trade discounts due. Page11 continued...
CITRUS ARTS UMITED NOTES TO THE FINANCIAL STATEMENTS- ¢ontlrtued FOR THE YEAR ENDED 31 MARCH 2024 DONATIONS AND LEGACIES 2024 2023 Donations 129 130 OThER TRADING ACTIVITIES 2024 2023 Hall hires 1,130 INCOME FROM CHARITABLE ACTIVITIES 2024 2023 Collaboratlon Incomo Classes income Event incorne Grants Other income 963 11,928 38,09) 109.569 1,931 30.094 29,956 157.148 3.143 184,730 222 272 Grants recèNad. includ8d in th9 above, are as follows.. 2024 2023 National Lottery Awards for All Wal Interfink RCT Arts Council of Wales- Clock Goes Forwariy produeuon Arts Council orwas- Business development rts Council of Wales- Ty Unnos proiect The Foe Foundation A55ura Cornmunily Fund Grants for Wales Cornic Relief Community Fund In Wales Principality Fund- Trial and L8am UK Government Shared Prosperity Fund Communty Grant Ty Cerdd Lottery Grants." Createlcreu Arnold Clart Communty Fund Postcode Comrnun*ty Trust- Magic Grant Westefft Pow8r Distribution- Community Matters Fund Trivallis Community Investment Fund Ashley Farnlly Foundation Arts Ctsuncll ofWaks- Artworkers Arts Council of Wales- Artworkets cost of living upjift Tesco Community Grants- Artworker8 The National Lottery Cornmunity Fund- People and Places 3 RCT Community Facilities Grant Co-op- Hall activity 9.980 500 2.999 10.000 40,002 15,000 4.697 30.582 4,800 13.938 1.800 1.000 500 9,040 1.000 11.330 720 34,050 41,220 5.479 500 25,940 540 109569 157.148 Page 12 conllnued...
cRUs ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS- CCntlnued FOR THE YEAR ENDED 31 MARCH 2024 CHARITABLE ACTMTIES COSTS Dlrect Costs (see note 71 Support C051s (see not8 81 Totsts The prornotion ol educabon and tralnlng in artistic pgrforrnan¢e 216698 12,073 228.771 DIRECT COSTS OF CHARITABLE ACTivifiES 2024 2023 Staff costs Subcontractorfee Training Telephone Travel and subsistence Advertising Sundries Venue hlre Costumeslpropslset eosls other produc'on costs Room, storage & equlpment IT costs Insurance Postage 8nd stationery Bad debts Fixed asset depreaatton 67,260 95,526 1,315 503 7,642 4.314 4.151 3.800 9,481 5,318 134,901 355 6,669 5.356 2,154 4,070 7.042 8,474 4,66t 581 1.613 186 1,079 1,951 174 4.389 2.801 218 698 178,428 SUPPORT COSTS Govemance Costs Other Totals The promotion of edUcatn and training in artistic performance 4.818 12.073 NET INCOMEIIEXPENDITUREI N8t incornellexpenditurel is stated after ch8rgingllcredi*'ngl'. 2024 2023 Depre¢iabon- owned asse15 Ind¢petont èX8mination fees 3,295 2.985 2,784 1.750 10. TRUSTEES, REMUNERATION AND BENEFITS Th8re were no trustees, remuneratitsn or other beneffts for the yeai ended 31 March 2024 or for the year ended 31 March 2023. Page 13 conb"nued...
CITRUS ARTS UMITED OTES TO THE FINANCIAL STATEMENTS- contlnuod FOR THE YEAR ENDED 31 MARCH 2024 10. TRUSTEES. REMUNERATION AND BENEFITS- continued Tru$tee$' eXSe$ Thère wère no trust88< expgnses paid for the year ended 31 March 2024 or for the year ended 31 Mar¢h 2023. 11. STAFF COSTS 2024 2023 Wages and salaries Social security eosts Other pernsK)n costs 64,684 1,598 978 Th8 companys PAYE scheme became operationèl May 2023. The average monthly number of ernployees durir*J the year was as follows: 2024 2023 Average number No employees fecenied emoluments in excess of £60.000. 12. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES Unrestricted fvnd ReStrted funds Total funds INCOME AND ENDOWMENTS FROM Donations and18gaoes 130 130 Charltsble a¢¢lvltlos The promotion of educatron and training in artistic performance 65,124 157,148 222.272 Other trading a¢ttwties 1,130 Total 66.384 157.148 EXPENDITVRE ON Charltablè actlvitiès The prctmotion of education and training in artistic perf0mnCe 85.927 106,766 792,693 NET INCOM£IIEXPENDifuRE> 119,5431 50.382 30.839 RECONCILIATION OF FUNDS Total funds brought forward 25,315 23.780 49.095 TOTAL FUNDS CARRIED FORWARD 5,772 74,162 Page 14 eonlinued...
CITRUS ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 13. TANGIBLE FIXED ASSETS Plant and machinery COST At 1 Apnl 2023 and 31 March 2024 19,983 DEPRECIATION At 1 Aprll 2023 Charge for year 9.173 3.295 At 31 March 2024 12,468 NET BOOK VALUE At 31 March 2024 7,515 Al 31 March 2023 10.810 14. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 2023 Trade debtors other deblors Prepayments and a(Krued incorne 3,969 1,318 15.924 35,769 1,729 8.169 15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Social sewrily and othertsxes Othe¥ credito Accruals and dèlèried Incom8 12,551 548 883 2,985 785 3,282 1.750 5,817 16. MOVEMENT IN FUNDS Ngt movement In funds At 3113124 At 114123 Unre$trided funds General fund 5,772 11.667 17.436 Restrf¢ted fvnds The Foyle Foundation Comic Relief Comrnunity Fund in Wales Arkr$ Ty C8rdd Lottery grdnl.. Create Ashley Family Foundat¥)n Citrus Pips Ty Unnos project National Lottery Community Fund 9,630 12,493 7,047 1.800 6.055 3.608 33.529 19,6301 112.4931 17,0471 11.8001 16,0551 13.6081 133,5291 74,162 73,0011 TOTAL FUNDS 18.600 Page 15 onlinued..
CITRUS ARTS LIMITED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 16. MOVEMENT IN FUNDS- Continued Net movement In fijnds. ineluded in the above are as follows.. Incoming fe50ufc8S Resource5 expended Movernent in funds Unrestricted funds General lund 57.868 142,2011 11.667 Restrlcted funds Th8 Fe Foundation Comic Relief Community Fund in Wales Artworkers Ty Cerdd Lottery grant.. Create Ashley Family Foundation Citrus Pips Ty Unnos peCt Shared Prosperity Fund 19.6301 112,4931 154.2461 {1,8001 16,0551 13.6081 133,5291 134.0501 17201 15401 11,1201 24 7791 19.6301 112.4931 17,0471 11,8001 16,055) 13,6081 133,5291 47.199 34,050 720 540 1,120 25.940 RCT ComrnuEiity Facilibes grant Hall activity NatSonal Lottery Community Fund 1,16? 109.569 182 570 73,0011 TOTAL FUNDS 167.437 228,7711 613341 comparat1$ for mtsv•mènt In funds Net movement in funds At 3113123 At 114122 Unr¢strlc¢¢d fvnds General fund 25.315 119,543) 5,772 Restrlcted lund The Clock Goes Forward Lottery Communlty Fund The Foyle Foundation omic Relief Community Fund in Wales Athorkers Ty C8rdd Lottery granL Create Ashley Family Foundation Citrus Pips Ty Unnos project 20.532 3.248 120,5321 13,2481 9.630 12.493 7,047 1,800 6.055 3,608 33,529 9.630 12,493 7,047 1,800 6,055 3,608 33,529 23.780 Y4,162 TOTAL FUNDS 49,095 30,839 Page 16 cont4nugd...
CITRUS ARTS LIMED NOTES TO THE FINANCIAL STATEMENTS - ¢ontinu8d FOR THE YEAR ENDED 31 MARCH 2024 16. MOVEMENT IN FUNDS- ¢ontlnued Comparative nel movement in (unds. included in the above are as follow5= In¢oming r•$ources Resources ¢XP8nded Movernent in fvnds Unrestrlcted fvnds General fvjnd 66,384 185.9271 119,5431 R#strlcted lunds The c1k Goes Forward Lottery Communlty Fund The FOY Foundation Comic Relief Comm¥nity Fund in Wales Artworkers Ty Cerdd Lottery grant.. Creat8 Hall Progwamrne Business Development grant Ashley Farnily Foundatx)n CitrLlS Pips Ty Unnos project Shared Prosperity Fund Intertink 2,999 123,5311 {3,2481 15.3701 118.0691 17,7331 120,5321 13,2481 9,830 12,493 7,047 1,800 15.000 30,562 14,760 1,800 11,540 10,000 11.330 4,697 40,002 13.938 500 111.5401 110.0001 15,275} 11,0891 16,4731 113,9381 6.055 3,608 33,529 157.148 106.766 50,382 TOTAL FUNDS 223.532 192,693} The Foyle Foundatlon A grant of £15,WO was raceived in Ihe prior year as additlonal support agalnst specrfi6d bud9eted costs. Comic Relief Communlty Fund In Wal85 Administered by Wales Council for Voluntsry Action IWCVAI. a$ part ol Third Seclor Support Wales ITSSWI. on behalf of ComSc Relief. Grant funding of £30,562 was le1Ve in the prior year. Artworker$ Fundlng was Tecelve¢J during th? prior year from the Prinipalty fund £4.800 and the National Lottery Awards For All Wales fund £9,980. Of this. an amount of £7.047 was brought fward to thi5 year. New ArtwoFker5 fundlng ol £47.199 was received tn this year from.. Arts Council ol Wales- Ar0erS grant Arts Council of Wales- Artwo8rS cost of livin9 urlift Tesco Community GraDts- Arlworkers £41.220 £5.479 £500 Ty Cerdd Lottery Grants.. Creatè Funding of £1,800 wa5 received in the prior year as a ¢ontribution towards tho Cr8at81Cr8u protsect. Cl¢rus Plp$ Fundiro of £4,697 was reeeived In the prior year from the Assura CommLtnlty Fund Giants lor Wales as contribution towards rebuikjing Citrus Pips. work with young people. Ty Unnos Projeet Funding of £40.002 was received in the prlor year from Arts Counal Wales to fund th8 mountiThJ of a c4mmunlty outdoor arts spectade explorlng issues connected with home. Int8r15nk Funding of £720 was received in the year RCT Autumnlwinter Srnall grants Scheme. This funding was fulty spenL RCT Communltles Facllltios grant FunrJn)g of £540 was reiVed under this scheme and fulty spent In the year. Page 17 conllnued...
CITrUS ARTS LIMrrED NOTES TO THE FINANCIAL STATEMENTS- contlnued FOR THE YEAR ENDED 31 MARCH 2024 MOVEMENT IN FUNDS- contlnugd Hall actlvlty Funding of £1,120 was rec6ived from the Co-op towards hall actmty. Thls funding was fulty spent in the year. Shar¢d Pro$perlty Fund The UK Shared Prosperty Fund is a central pillar of the UK GDvernrnenVs Levelling Up agenda. The fund alms to Improva prida In places and increase life thanges. Nèw frjnding of £34.050 was received this year. Natlonal Lottery Communlty Fund New fundlng was obtaine¢J this year for People and Plac£s 3 NatMJnal Lottery Funding. The projecl enabjed the or9anisation to provhle subsidised community activlties and 5e55ions for youn9 people and families, lo prowde ot desk facility for th days per week for those working from home to use the hall, promde warrn hub facililies for home educated children. wrnmunity mernb8rs and communlty groups. Prior ear onl The Clock Goes Forward During the year, a final grant in5ts1rnent ol E2,999 was receiv8d for the final stages of this project. a project to eelebrste Pontypridd 8nd it's community. This was lully spent in this year. Lottery Communlty Fund Funding received in previotrs year iowards a programme of take-part activities and community consult8tion around Hopkins¢own Hall. Thls Inctuded wtsrkshops, talks and perf0mnceS. The final expenditure on the projed was COMted in 2022123. Hall Prograrnme Funding wa5 received from the lollowng funders towdrds our Hall programm8 of actitIeS.. Amold Clark Community Fund £1,000, Postcode Community Trust Magic Little Grant £500, Westem Power Dislribubon £9.040 and Trivallis Community Inve51rnent fund £1,000. This was fully sp8n¢ in 2022-23. Bu51ne55 Oevelopmenl grant Funding of £10.000 was recelved trom Arts Counril Wales a$ a contrlbuuon towards strategy and development work5. This was fully spent in 2022-23. Shared Prosperlty Fund The UK Shared Prosperty Fund is 8 eentr81 tmllar of the UK Govemmenl's Levelling Up a96ndo. The lund aims to improve pride in place5 and increase lffje changes. Funding of £13.938 was Tecved and fuly Spent in 2022-23. Interllnk Gianl funding of £SOO was r8ceived in 2022-23 as support for comm¢Jnity-led organisations to dolivér aclivities. Thss funding wa5 fully spent. 17. RELATED PARTY DISCLOSURES During the year fees 01 £9,98512023.. £68.011} were P8K to key management peysonnel for the exchange of Servi prowded to the charity. The reduction is due to Ihe impbmentstion of a PAYE Scheme in 2023-24 Isee below). The total employee beneflls of the key management personnel of the charlty were £48.96212023.' £NIII. Furthermo, trav81 c05ts of£2.07212023.' £3,754) were also pald to k$y managgrnent P8r50nn81 during the year. Included withlTr debtor5 ts an arnounl of £3012023.. £4411 duè from key managetnent personnel. Induded wTrthit7 trade ¢reditors is an amount of £2,33412023.. £Nill due to key management personnel. Page 18