OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2024-03-31-accounts

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 1/19

Charity number: 1190098

Ideas Test CIO

Unaudited

Trustees' report and financial statements

For the year ended 31 March 2024

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 2/19

Ideas Test CIO

Contents

Page
Reference and administrative details of the Charity, its Trustees and advisers 1
Trustees' report 2 - 5
Independent examiner's report 6
Statement of financial activities 7
Balance sheet 8
Notes to the financial statements 9 - 17

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 3/19

Ideas Test CIO

Reference and administrative details of the Charity, its Trustees and advisers For the year ended 31 March 2024

Trustees Jatin Patel, Chair
Jane Howard
Ally Sinyard
Rebecca Brennan-Brown
Sathiya Mohan (resigned 23 July 2024)
Robin Pimenta, Treasurer
Nancy Stridgen
Alex Cameron
Elizabeth Mellen
Virginie Giles (appointed 11 October 2023)
Charity registered
number
1190098
Principal office
Room 5 1st Floor
5A New Road Avenue
Chatham
Kent
ME4 6BB
Accountants
Kreston Reeves LLP
Chartered Accountants
37 St Margaret's Street
Canterbury
Kent
CT1 2TU

Page 1

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 4/19

Ideas Test CIO

Trustees' report For the year ended 31 March 2024

The Trustees present their annual report together with the financial statements of the Charity for the year 1 April 2023 to 31 March 2024.

Objectives and activities

a. Policies and objectives

The objectives of the Charity are to advance the education of the public in the arts by:

a) Encouraging and developing public participation in these artforms by the presentation of artworks, commissions, concerts, performances, exhibitions and festivals in the districts of Swale and Medway primarily as well as in Kent and the South East region, nationally and internationally.

b) Supporting community and wellbeing and capacity building in Swale, Medway and Kent through commissioning of collaborative arts projects addressing issues of place, community, equality and inclusion.

c) Promoting, supporting and developing the creative community of Swale, Medway and Kent including the amateur and voluntary arts sectors and the understanding of collaborative arts and practice regionally, nationally and internationally.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

b. Strategies for achieving objectives

To achieve its objectives, the Charity works to:

Achievements and performance

a. Review of activities and future plans

“It’s not just the number of events or the fact that they bring communities together. It’s also the standard. It’s the quality of the events themselves. Because everything so far that I’ve seen with Ideas Test is actually high quality” (Audience feedback)

2022/23 saw Ideas Test lay the foundations of its Arts Council England's Creative People and Places 2022-25 plans for engaging people in ambitious arts activity and events and involving people recognised who may not have previously engaged with the arts. 2023/24 has seen the delivery plan gain pace, with planned investment of £45,930 of carried forward funds contributing to an impactful programme of events and activities in Medway and Swale.

The second year of the grant has enabled us to continue to embrace the challenge of creating an inclusive programme of large and small-scale events and activity that increases participation in arts and culture in local communities/individuals with low levels of engagement. This core funding has continued to stimulate success in our fundraising from other sources in an increasingly difficult economic climate. During the year we gratefully received project funds from Medway Council, Kent County Council, Kent Community Foundation, Hays Travel Foundation, Youth Music, Swale CEP, Colyer-Fergusson Trust , University of Kent, LSSJ and Spirit of 2012.

“Ideas Test show that we’re not forgotten. It shows that people are willing to invest time in this area and bring the

Page 2

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 5/19

Ideas Test CIO

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

good people of the area together.” (Ideas Test Focus Group, 2024)

In brief, 2023-24 saw Ideas Test deliver 142 events/activities, commissioning 29 emerging and established creative practitioners and reaching 2991 audiences/participants, of which 61% were from our audience development target postal sectors. We worked with 8 schools/colleges and 48 partners (including 25 new ones) across Medway and Swale.

To discover more about our work and its impact take a look at our 23/24 Evaluation Report.

At Ideas Test, we believe that an asset-based approach makes us stronger, and has a direct impact on providing a greater quality offer. Our Invigorate! programme is based on this strategic approach, with neighbourhood interventions taking place across three communities identified as areas of deprivation: Luton, Brompton and Lordswood. This year we delivered:

Alongside these projects, we’ve also been involved in supporting a range of activities, for example Festival of Chatham Reach, Chatham Carnival, Medway Fun Palace, Creative Collaborations (Swale CEP) and Culture Camps (Swale CEP).

As an organisation Ideas Test saw a couple of staff changes during the year. To enhance production capacity the role of Communications and Monitoring Officer was made redundant and the role of Programme Assistant, primarily supporting the youth programme, was created. This realignment saw the departure of Kyra Cross and the arrival of Harley Russell. Kevin Grist (Electric Medway director) continued to contribute his production skills as a freelance producer and Simone Mardell, with a strong track record of marketing and communications skills, joined us as a freelance social media content creator.

Leadership also underwent change as we welcomed one new Board member, Virginie Giles. She brings skills and strengths in placemaking, networking and press relations. The Consortium currently includes representation from MidKent College, Arches Local, Medway Arts Forum, MHS Homes (Housing Association), Swale CVS, Queenborough Primary School and Raybel Charters.

Our gratitude goes to our volunteer Board members and to the many partners and funders who have made the past year a success. Ideas Test continues to consolidate its role as a leader in quality, socially engaged, artistic

Page 3

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 6/19

Ideas Test CIO

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

practice in Swale and Medway.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

As at 31 March 2023, the Charity had £40,000 of designated reserves. The designated reserves are held to cover the running costs of the Charity in the event of a lapse in funding. During the year ended 31 March 2024, the designated reserves fund was increased to £65,000 and Trustees reviewed the funds required to provide 6 months running costs. A plan was put in place to achieve the target of £95,000 by 31 March 2026.

As of 31 March 2024, the Charity had unrestricted general reserves of £165,339. These reserves are committed to ongoing programme delivery.

c. Principal risks and uncertainties

The Charity maintains a risk register. The areas highlighted as being of highest risk are:

  1. Fundraising fails to meet targets.

  2. Expenditure too high

  3. Illness/ COVID

Structure, governance and management

a. Constitution

The Charity was registered as a Charitable Incorporated Organisation (CIO) with the Charity Commission with a constitution on 24 June 2020.

b. Methods of appointment or election of Trustees

Trustee positions are advertised and candidates are asked to formally apply. Shortlisted applicants are invited to interview in front of the Board of Trustees. They are then interviewed before the Board of Trustees makes a decision on who to appoint.

c. Organisational structure and decision-making policies

All significant decisions are made by the Trustees. Day to day operations are delegated to the Charity's Director. The Charity's Consortium oversees the delivery of activities associated with the Arts Council funding.

d. Policies adopted for the induction and training of Trustees

Formal training is offered to all new Trustees.

Page 4

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 7/19

Ideas Test CIO

Trustees' report (continued) For the year ended 31 March 2024

Structure, governance and management (continued)

e. Pay policy for key management personnel

The Trustees decide on the appropriate level of remuneration for senior staff.

Statement of Trustees' responsibilities

The Trustees are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial which give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the Trust deed. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

Jatin Patel 21 Nov 2024 14:19:20 GMT (UTC +0) ................................................ ................................................Rob Pimenta 21 Nov 2024 04:35:10 GMT (UTC +0) Jatin Patel Robin Pimenta

Date: 21 November 2024

Page 5

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 8/19

Ideas Test CIO

Independent examiner's report For the year ended 31 March 2024

Independent examiner's report to the Trustees of Ideas Test CIO ('the Charity')

I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2024.

Responsibilities and basis of report

As the Trustees of the Charity you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the 2011 Act').

I report in respect of my examination of the Charity's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

Your attention is drawn to the fact that the Charity has prepared the accounts in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.

I understand that this has been done in order for the accounts to provide a true and fair view in accordance with the Generally Accepted Accounting Practice effective for reporting periods beginning on or after 1 January 2015.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the Charity as required by section 130 of the 2011 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination.

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.

Signed:

Dated:

Jennifer Williamson ACA

Kreston Reeves LLP Chartered Accountants Canterbury

Page 6

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 9/19

Ideas Test CIO

Statement of financial activities For the year ended 31 March 2024

Note
Income from:
Donations and legacies
3
Charitable activities
4
Investments
5
Total income
Expenditure on:
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Restricted
funds
2024
£
118,972
-
-
118,972
166,770
166,770
(47,798)
135,253
(47,798)
87,455		 Unrestricted
funds
2024
£
288,992
10,144
3,204
302,340
300,472
300,472
1,868
228,471
1,868
230,339		 Total
funds
2024
£
407,964
10,144
3,204
421,312
467,242
467,242
(45,930)
363,724
(45,930)
317,794		 Total
funds
2023
£
541,521
2,776
91
544,388
365,110
365,110
179,278
184,446
179,278
363,724

The Statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 9 to 17 form part of these financial statements.

Page 7

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 10/19

Ideas Test CIO

Balance sheet As at 31 March 2024

Note
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets
Total net assets
Charity funds
Restricted funds
12
Unrestricted funds
12
Total funds		 92,808
254,187
346,995
(29,201)		 2024
£
317,794
317,794
87,455
230,339
317,794		 107,397
288,035
395,432
(31,708)		 2023
£
363,724
363,724
135,253
228,471
363,724

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

Jatin Patel 21 Nov 2024 14:19:20 GMT (UTC +0) Rob Pimenta 21 Nov 2024 04:35:10 GMT (UTC +0)

Jatin Patel

Robin Pimenta

Date: 21 November 2024

The notes on pages 9 to 17 form part of these financial statements.

Page 8

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 11/19

Ideas Test CIO

Notes to the financial statements For the year ended 31 March 2024

1. General information

Ideas Test is a Charitable Incorporated Organisation, registered in England. Its registered office is Room 5, 1st Floor, 5A New Road Avenue, Chatham, Kent ME4 6BB.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view. This departure has involved following the Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporting by Charities: Statement of Recommended Practice effective from 1 April 2005 which has since been withdrawn.

Ideas Test CIO meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The financial statements are presented in pounds sterling and rounded to the nearest pound.

2.2 Going concern

The Trustees have considered the projected future income and expenditure along with the current level of funds and concluded that the Charity will have sufficient resources to continue to operate for the foreseeable future. Therefore the financial statements have been prepared on a going concern basis.

2.3 Income

All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Page 9

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 12/19

Ideas Test CIO

Notes to the financial statements For the year ended 31 March 2024

2. Accounting policies (continued)

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

2.6 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.7 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.8 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

2.9 Financial instruments

The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

Page 10

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 13/19

Ideas Test CIO

Notes to the financial statements For the year ended 31 March 2024

2. Accounting policies (continued)

2.10 Pensions

The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.

2.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

Investment income, gains and losses are allocated to the appropriate fund.

3. Income from donations and legacies

Donations
Grants
Total 2023		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
-
5
118,972
288,987
118,972
288,992
199,290
342,231		 Total
funds
2024
£
5
407,959
407,964
541,521		 Total
funds
2023
£
8,699
532,822
541,521

4. Income from charitable activities

Unrestricted
funds
2024
£
Commissioned work
10,144
Total 2023
2,776		 Total
funds
2024
£
10,144
2,776		 Total
funds
2023
£
2,776

Page 11

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 14/19

Ideas Test CIO

Notes to the financial statements For the year ended 31 March 2024

5. Investment income

Unrestricted
funds
2024
£
Bank interest
3,204
Total 2023
91		 Total
funds
2024
£
3,204
91		 Total
funds
2023
£
91

6. Expenditure on Charitable Activities

Restricted
funds
2024
Unrestricted
funds
2024
£
£
Programme deliveries
166,770
176,495
Core overheads
-
123,977
166,770
300,472
Total 2023
134,043
231,067
Independent examiner's remuneration
Fees payable to the Charity's independent examiner for the independent
examination of the Charity's annual accounts		 Total
funds
2024
£
343,265
123,977
467,242
365,110
2024
£
2,300		 Total
funds
2023
£
223,356
141,754
365,110
2023
£
2,150

7. Independent examiner's remuneration

8. Staff costs

Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 2024
£
200,348
11,724
3,909
215,981		 2023
£
160,405
9,023
3,266
172,694

Page 12

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 15/19

Ideas Test CIO

Notes to the financial statements For the year ended 31 March 2024

8. Staff costs (continued)

The average number of persons employed by the Charity during the year was as follows:

2024 2023
No. No.
Employees 5 5

No employee received remuneration amounting to more than £60,000 in either year.

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).

10. Debtors

Due within one year
Other debtors
Prepayments and accrued income
Grants receivable		 2024
£
726
4,582
87,500
92,808		 2023
£
288
2,211
104,898
107,397

11. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2024
£
20,859
4,818
764
2,760
29,201		 2023
£
17,206
3,947
7,975
2,580
31,708

Page 13

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 16/19

Ideas Test CIO

Notes to the financial statements For the year ended 31 March 2024

12. Statement of funds

Statement of funds - current year

Unrestricted funds
Designated funds
Reserves Designated Fund
General funds
General Fund
Total Unrestricted funds
Restricted funds
Colyer Fergusson Hardship
Fund
Make Waves Project Fund
Flux Fund
Medway Change Makers Fund
Write and Record - Medway
and Swale
Medway Arts and
Homelessness Forum
Luton Lights
DisQuiet (Medway and Swale)
Total of funds		 Balance at 1
April 2023
£
40,000
188,471
228,471
455
95,941
2,682
36,175
-
-
-
-
135,253
363,724		 Income
£
-
302,340
302,340
-
20,000
-
43,972
5,000
7,500
10,000
32,500
118,972
421,312		 Expenditure
£
-
(300,472)
(300,472)
-
(55,143)
(2,682)
(68,734)
(5,000)
(1,788)
(10,000)
(23,423)
(166,770)
(467,242)		 Transfers
in/out
£
25,000
(25,000)
-
-
-
-
-
-
-
-
-
-
-		 Balance at
31 March
2024
£
65,000
165,339
230,339
455
60,798
-
11,413
-
5,712
-
9,077
87,455
317,794

Page 14

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 17/19

Ideas Test CIO

Notes to the financial statements For the year ended 31 March 2024

12. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
Designated funds
Reserves Designated Fund
General funds
General Fund
Total Unrestricted funds
Restricted funds
Colyer Fergusson Hardship
Fund
Make Waves Project Fund
Creative Estuary / Hidden
Lands co-commission Fund
Kent Community Foundation
Fund
MVA Test Bed Fund
Medway Town Centre Forum
Fund
Youth Music Fund
Theatre 31 Fund
You Me Us Too Fund
Medway Council Fund
Kent County Council Fund
Flux Fund
Medway Light Nights Lantern
Parade Fund
Medway Change Makers Fund
Total of funds		 Balance at
1 April 2022
£
-
66,098
66,098
20
65,606
5,979
4,000
3,643
1,875
2,940
4,480
15,145
8,104
6,556
-
-
-
118,348
184,446		 Income
£
-
345,098
345,098
1,000
91,500
18,690
-
-
-
-
-
-
-
-
20,000
20,000
48,100
199,290
544,388		 Expenditure
£
-
(231,067)
(231,067)
(565)
(51,689)
(20,928)
(4,000)
(3,643)
-
-
-
-
-
(3,975)
(17,318)
(20,000)
(11,925)
(134,043)
(365,110)		 Transfers
in/out
£
40,000
8,342
48,342
-
(9,476)
(3,741)
-
-
(1,875)
(2,940)
(4,480)
(15,145)
(8,104)
(2,581)
-
-
-
(48,342)
-		 Balance at
31 March
2023
£
40,000
188,471
228,471
455
95,941
-
-
-
-
-
-
-
-
-
2,682
-
36,175
135,253
363,724

Page 15

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 18/19

Ideas Test CIO

Notes to the financial statements For the year ended 31 March 2024

12. Statement of funds (continued)

Purpose of funds

The Reserves Designated Fund is held to cover the running costs of the Charity in the event of a lapse in funding.

The Colyer Fergusson Hardship Fund provides small grants to help young people in need purchase equipment or services.

The Make Waves Project Fund is a progamme to support young people to pursue careers in the creative industries. The funders are Creative Estuary/University of Kent, Medway Council, Colyer Fergusson, The Lawson Trust and Garfield Weston Foundation

The Creative Estuary / Hidden Lands co-commission Fund is a sculpture based project in Milton Creek Country Park.

The Kent Community Foundation Fund provides funding for the You Me Us programme addressing loneliness and isolation.

The MVA Test Bed Fund provides funding for the You Me Us Too programme addressing loneliness and isolation.

The Medway Town Centre Forum Fund is for a publicly co-created art installation in the Pentagon Shopping Centre.

The Youth Music Fund is for Swale Big Music Take Over project.

The Theatre 31 Fund is a theatre based project for young people in Sheppey.

The Medway Council Fund is for a Medway Light Nights Festival commission.

The Kent County Council Fund is for the Build Back Better for website development and Kent Sport for Moving Memory 'train the trainer' Moving Well projects.

The Flux Fund is a mental health and arts project for young people.

The You Me Us Too Fund is a well-being arts project addressing loneliness and isolation amongst older people.

The Medway Light Nights Lantern Parade Fund is a creative commission working with schools and partners to create, curate and organise the lantern parade element of the Medway Light Nights Festival 2023.

The Medway Change Makers Fund is a Spirit 2012 Volunteering Cities programme to develop eventsdriven cultural volunteering across Medway.

The Write and Record Fund provides funding for a project working with people who have experience of homelessness to co-create and record a song. The funders are Kent County Council and Kent Community Foundation.

The Medway Arts and Homelessness Forum Fund is funded by Medway Council to coordinate the forum which brings together service providers, artists/ art organisations and, most especially, local people with experience of homelessness to share information and ideas for increasing awareness of, involvement in and cocreation of arts activities and projects.

The Luton Lights fund is funded through Medway Council by the UK Shared Prosperity Fund, and aims to bring together and engage families living in the Luton ward of Medway through a magical community light event at the local Invicta Social Club featuring content co-created with the public.

Page 16

VirtualSignature Transaction Ref. Q7D6-5752-M7W6 21 Nov 2024 14:19:23 GMT (UTC +0) D 1/2 P 19/19

Ideas Test CIO

Notes to the financial statements For the year ended 31 March 2024

12. Statement of funds (continued)

The DisQuiet fund provides funding for a youth music project designed to engage Young People traditionally excluded from creative activities by providing YP with opportunities to enjoy entry-routes & pursue progression-routes into music-making, boosting wellbeing. The funders are Youth Music and Hays Travel.

Transfers between funds

A transfer of £25,000 has been made from the Unrestricted General Fund to the Reserves Designated Fund in respect of increased reserves needed to cover the running costs of the Charity in the event of a lapse in funding.

13. Analysis of net assets between funds

Analysis of net assets between funds - current period

Current assets
Creditors due within one year
Total		 Restricted
funds
2024
Unrestricted
funds
2024
£
£
87,455
259,540
-
(29,201)
87,455
230,339		 Total
funds
2024
£
346,995
(29,201)
317,794

Analysis of net assets between funds - prior period

Current assets
Creditors due within one year
Total		 Restricted
funds
2023
£
135,253
-
135,253		 Unrestricted
funds
2023
£
260,179
(31,708)
228,471		 Total
funds
2023
£
395,432
(31,708)
363,724

14. Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £3,909 (2023 - £3,266).

15. Related party transactions

The Charity has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Charity at 31 March 2024.

Page 17