Company NumtÉr 12571419 (England and Wales) Registered Charlty Number 1194711 ARCADE ARTS LTD (A company limited by guardntee) FINANCIAL sTATEME￿rs Year en 31 MARCH 2024 Phoenix Accountsncy and Business Consultancrf Limlted ARCADE ARTS LTD Compally No: 12571419 Charity No: 1194711 Contents to the Financial Statements For the year ended 31 March 2024 Page Company Infornation Independent Examiner5 Report Report of the Board of Trust￿ (Incorp)rating the Dir￿rS Report) Income and Expenditure Account 18 Statement of Finanaal Actvibes 19 Balan￿ Sheet 20 statement of Cash Flows 22 Notes to the Financial Statements 23 ARCADE ARTS LTD Company No". 12571419 Charity No: 1194711 Company Information For the year ended 31 March 2024 DIREcfoRS T Stephenson (App)inted 061102020) L Taylor (Resigned 1710912023) Dr K Acton (Appointed 1310912022) J Crowley (Appointed 1910312022) Y Wombwdl (Appolnted 2310912022) M Romer (Appolnted 0810812023) REGISTERED OFFI Bridlington Hub 2a Marshall Avenue Bridlington East Yorkshire Y015 2DS OPERATIONAL ADDRESS Wo(xfjend Gallery The Crescent Scarlx)rowJh North Yorkshire Yoll 2PW REGisfERED COMPANY NUMBER 12571419 REGISfERED CHARtrY NUMBER 1194711 INDEPENDENT EXANINER RelEcca Triffitt, MAAT pTrCti￿ Accountsnt Phoenix Accountrdncy and Business Consultsncy Limited Morley's Cottage Morlefs Yard Walkergate Beverley HU17 9BY BANKERS iryin Money 15¥158 Kensington High street LorKJon W8 7RL ARCADE AR73 LTD Company No". 12571419 Charity No: 119471 I Independent Examlnerfs Report to the Members of A￿ade Arts Ltd I report on the accounts of Arcade Arts Ltd for the year end￿ 31 Marth 2024, whlch are set out on pages 18 to 34. Respective responsibilities of trustees and examlner The trustees (who are also the directOFS of the c(mpany for the putp)ses of c(#mpany Saw) are responsible for the preparation of the accounts. The chartws trustees consider that an audit is not required for this year under section 144 of the (hiities Art 2011 (the a)arities Act) and that an independent examination is needed. It Is my responsibllty to: examine the accounts under section 145 of the thartiie5 Ac¢ to follow the procedures laid down in the general Directions given by the tharity Commission (under $￿tion 145(5)(b) of the Chartties ￿ and to stste whether particular matters have come to my attention. Basls of independent examinerfs rep(wt My examination VRS carried In accordan￿ with gw)eral Directions given by the tharity Commission. An eKamination Indu(les a rewew of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also indudes conslderation of any unusual items or disdosures in the accounts and seeking explanations from the trustees concerning any such matters. The pr(Kedures undertaken do not provide all the eviden￿ that would be required in an audlL and consequently o￿nIon s gtven as to whether the accounts present a true and fairf Mew, and the rew)rt is limited to those matters set out in the statement below. Independent Examlnerfs stateffl￿t In connection with my examlnation, no matter has come to my attention to indicate that: accounting records have not been kept in accordan￿ with section 386 of the Companies Act the accounts do not acc￿1 with swch records: where accounts are prepared on an accruals basis, whether they fail to comply with relevant accounting requirements under secbon 396 of the Companies Att 2006, or are not consisient with the Charities SORP (FRS102) any matter which the examiner bdieves should be drawn to the attention of the reader to gain a proper understanding of acccmjnts. Rebecca Triffif MAAT Phoenix Accountsncy and Bu￿nesS Consultancy Limited MorleV5 Cottage, Morley's Yard, Walkergate Beverley, East y￿kshire HU17 9BY ARCADE ARTS LTD CompanyNo: 12571419 Charity No.. 1194711 Report of the Board of Truste￿ (incorporating the Directorfs Report) For the year ended 31 March 2024 The Trustees present their report with the financial statements of the charitsble Company for the year ended 31 March 2024. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Artides of Association, arKI Accounting and Rewrting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the ￿nanCIal Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effectsve l January 2019). Reference and Administrative Details of the Charity, Its Trustees and Advisers A￿ade Arts Ltd Ch 1194711 istration Number: 12571419 Address: Bridlington Hub 2a Marshall Avenue Bridlington East Yorkshire Y015 2DS Princi alo rati Address: W(M)dend Gallery Crescent r￿rOUgh North Yorkshire Yoll 2PW Directors Tr The Directors of the tharitsble Company (the Charity) a￿ its trustees for the purpose of charity law and throughout this re￿rt are collectively referred to as the Trustees. Names of Trustees (Directors) who seNed during the year and since the year end were as follows: Dr K Acton - Appointed 13.09.22 Y Wombell - Appointed 23.09.22 T Stephenson - Appointed 06.10.2020 J Crowley- Appointed 19.03.2022 M Romer- Appointed 08.08.2023 L Taylor - Resigned 17.09.2023 The Company Is limited by guatBntee therefore none of the Directors have an Interest in share capital. ARCADE ARIS LTD CompanyNo: 12571419 Charity No.. 1194711 Report of the Board of Trustees {incorporating the Directorfs Report) For the year ended 31 March 2024 Da Co-Director Co-Director Rachel Drew )phie Drury-Bradley ent miner: Rebecca Triffitl MMT ph￿niX Accountancy and Business Consultancy Limited Mortevs Cottsge MorleWs Yard Walkergate Beverley East Yorkshire HU17 9BY Bank iryin Money Bank 154-158 Kensington High Str*t LorKlon W8 7RL ARCADE ARTS LTD CornpanyNo: 12571419 Charity No.. 1194711 Report of the Board of Trustees (incorpornling the Director's Report) For the year ended 31 March 2024 Structur4 Governance and Management &)vernln cument Arcade Arts Ltd is a registered charity and a company limited by guarantee govemed by its Memorandum and Articles of As￿)ciatIon adopted on 24 April 2020 and amended on 08 December 2020 and 27 May 2021. Arcade Arts registered as a chaiity on 07 June 2021. Every member of the Charity urthrtakes to contriLxJte a maxlmum of £1 in the event of the charity winding up. itmert intment of TrL The board of directors may from time to time and at any time appoint any member of the company as a member of the Board of Direttors, either to fill a casual vacancy or by way of addition, provided the prescribed maximum is not exceeded. Any member so apwinted shall retain his or her office only until the next annual general meetiNJ but shall then be eligible for reelection. No person who Is not a member of the Company shall in any arcumstances be eligible to hold Offi￿ as a memLEr of the Board of Directors. The Articles of Association states that the number of Trustees must never be less than 3 and, until otherwise detennined by a Generdl Meeting, shall not be more than 7. ion an Traini New Trust￿ undergo induction training, provid&J by the Co-Directors. The induction includes a discussion about the role and respjnsibiltties of Trustees, the activities, aims and objectives of the Charity, the structure of the organisation, Board of Trustees, generdl Pr￿edureS of the organisation. New Trustees are introduced to members of staff and other Trustees and are provided with the Charity Commissions 'Roles and Responsibilities of Trust￿,, the Articles and Memorandum of Association, the business plan, the latest statutory finanaal statements, Annual ReF4)rt, and financial rep)rts provided to the Board of Trustees. Any additional training required by new Trustees will be identified during Induction, and may be requested at any FK)int by Trustees, where it is considered useful to their role as Trustee. Trustees are also invited to attend charity events and activities In i• order to develop a better all-round understanding of the organisation. ARCADE ARTS LTD Company No". 12571419 Charity No: 1194711 Report of the Board of Trustees (incorporating the Directorfs Report) For the year ended 31 March 2024 Or ani ti The Board of Trustees manages the Charty and aims to consider only strategic decislon5 at its meetings. Trustees are aware that any conflicts of interest are de£lared and minuted. The Board meets quarterly. The Co-Directors are appointed by the Tw5tees to manage the day-to-day operations of the Charity, (Rach Drew & Sophie Drury-Bradley) and also has authorty to delegate as appropriate to other *aff memters. Rlsk M na em The Trustees of the tharity wularly re4iew the major g0Vema￿e, operational and financial risks which the charity faces through quarterly trustee meetings and annual business planning process and confirm that systems have b*n established to mitigate these risks. ARCADE has a risk management strdtegy in pla￿ vthich o)mprises: an annual review of the strategic risks the charity may fa￿ via the organisational risk register, the establishment of systems and procedures to mitigate those risks identtfied, the implementstion of pr(Kedures de￿gned to minimise any pJ)tential impact on the d￿rty should tho* risks materiali*. The Trustees are satisfied that appropriate financial systems and controls and employment policies and prattl￿ are in place. The Tnjstees consider the key risks facing the charity at this time to be: l. The financial risks arising if the organisation is unable to attract sufficient funding to realise its planrEd activity to the s(2le and quality to which the organisation aspires. 2. The relativety modest scale of the organisation leaves it vulnerable to the temporary absen￿ or permanent loss of key team members. ement ntin The Trustees have managed the kK)tential impact of these rlsks by ensuring that: Income generation arKI fundraising plans in pla￿ in order to develop core funding streams for the organisation, enabling the chaiity to offer long term employ contracts to stsff Prnjdent budgets have b￿n set for the next finanaal year The charity maintsins a Iow-COSt ba Contingency plans are in pla￿ for the actions which would be taken rf income appears unlikely to reach its target Contlngency plans to adjust activty delivery fomiat If Income appears unlikely to reach its target Resetves Policy will be adopted whith will always enable the charity to meet all ￿5 liabilities even if income targets a￿ not achieved ARCADE ARTS LTD Company No: 12571419 Ch￿lty No: 1194711 Report of the Board of Trustees (incorporating the Director's Report) For the year ended 31 March 2024 Objectives and Activities A5 set out in the Memorandum of AssTriation, the Q￿rI￿S objects are: Yo advan￿ the arts for the public benefft by the promotion In particular, but riot exclusivelyi of the art of drama." in f rthefoll in In developlng the main objectives for the following year, the Trustees have glven regard to the Charlty Commission guidan￿ on public benefit. The Co-Directors have proposed key aims and prOj￿S for the next year, ￿lch have been agreed by the Trustees and indude: CULTURAL PROGRAMMING SUPPORTING COMMUNtriES: igniting creativity & agency in children, young people and families, via c(Kreated work with leading artists, sUPPOrted by education & health partnerships. DEVELOPING ARTS ECOL(￿￿ES. supporting underrepr*nted people to start & Sustain a creative career, in particular, working dass, northern women; leaders of the future. We will lead placfrbased partnerships in Selby, Bridlington, Scarborough & Hull, empowering communities to shape culturnl provision, supporting artists & developing IcK21 produ￿rS. ORGANISATIONAL DEVELOPMEW: develop ARCADE as an organisatlon focused on access, inclusion & diverse voices, enabling delivery of Let's Create in culturdlly under￿￿ed areas. ORGANISATIONAL DEVELOPME￿. A period of consolidation to develop the organisatlon, and a focus on developing working prdctice and new policies in access, anti-racism and environmentsl sustainability. Public Benefit - Who Arcade's work benefits and In what way The trustees have reviewed the cuThent activities of the charltsble company and confirmed that they are in line with its objectives. All the actiVSties of the organisation carried out during the period are in pursuan￿ of the companvs aims and objecttves. The trustees also conflrm that the organisation's aims and objectives fall within the "descriptions of purposes" in the Charities Act 2011 and are recognised as charitable and a￿ carried out for public benefit. 30,495 audiences and participants enjoyed ARCADE'S work in 2023124 across both live and digital work, with 196 artists engaged in paid ARCADE ARTS LTD CompanyNo: 12571419 ClwityNo: 1194711 Report of the Board of Trustees (incorporating the Directorfs Report) For the year ended 31 March 2024 Objectives and Activities (continued) work and 2700+ 1(xal artists supported through the Scarborough, Bridlington and Tadcaster creative's network. With a further 1.4 million people enjoying our public artworf( in Bridlington shopping ntre installed for 8 months. We reached 4 million+ people online via social media campaigns, TV, press and blogs promoting our acttvity Many audIen￿5 and participants live in wards vthlth are the bottom IOO/o, 60/0 & 10/0 of depriv& areas in England. Areas we serrfe have the lowest rates of social mobility in the county & lower than aveTrge cultural engagement & literdcy I￿els, along with feeling the other impacts of deprivation, as hwjh teenage pregrkirLy, offendlng and reoffending rates. ARCADE'S acbvity focuses on families arKJ thildren, young people at risk of offending andlor attending rK)n-mainstream sCh￿IS e.g., Pupil Referral Units and SEND Schools, and youNJ working-dass women and girls. The trustees are not remunerated. Any connethon be￿een a trust& or senior manager of the charity with business partners, spon9)rs or suppliers Is disclosed to the full board of trustees in the same way as any other contractual rdationship with a related party. Achievements and Perforniance Review f Artivities 2023-24 SUMMARY We began our tenure as an ACE National Por￿110 Organisation in April 2023, which indudes thretryear revenue funding and we are now eligible to apply for an additional 4th year. Following our successful NPO bid we held a team Away Day including the trustees to discuss the IP Core Characterislics and embed them within the team. T￿st￿ recruitment- the board are in the process of undertaking a skills audit to identify areas where they could be strengthened allowing a more targeted approath to trustee recruitment to be implemented with diversity and inclusivity prioritised as key to a balanced board. Developing the infrastructure to become more envlronmenlally robu* and to conduct a cathn audit and implement its findings. io ARCADE ARTS LTD CompanyNo: 12571419 Chatity No: 1194711 Report of the Board of Trustees (incoryjorating the Director's Report) For the year ended 31 March 2024 CO-CREATKON Love Stories: a flagshlp programme of co-creation exploring extraordir￿ry people & stories through storytelling workshops. Stortes were then tumed into an orchestral score, played by Sinfonia Viva and the ScartrKirough Spa Orthestra and induded in an audio trail around South Cliff Gardens. This has been heard over 2,000 times to date and is still running at the time of writing. We are planning to continue into 24125. Sign of the Times: unsung places, menvjrable Iccalions, and recollecuons of local people were ￿Iebrdted in a *ries of illuminated text artvffjrks - designed and created with artist Adrian Rileyi produc￿ by ARCADE. L(Kal groups and individuals were invited to ￿veal their favourfte Scarlx)rough pla￿ and accompanying personal stories through discussions, worfJend Creative, which Is fully a￿eSsIble. A lean business plan and three-year programme plan has been written, in collaboration with partners. We have created a Theory of Change for the organisation and an evaluation fTrmewor EMPLOYEES There is an understanding of the Importan￿ our employees play in the longer-term SUC￿SS of the charity. The Away Day held in May enabled our employees to be involved in business plan implementstion and creative planning, empowering our employees to develop and implement ideas which contribute to the success of the company. 13 ARCADE ARTS LTD Company No.. 12571419 Charity No: 1194711 Report of the Board of Trustees (incorylrating the Directorfs Report) For the year ended 31 March 2024 ENVIRONMENTAL As a publidy funded organisation, team undersland they have a moral and ￿Cial responslblllty to our employees and audiences to be environmentslly conscious of all our outputs. Our atnbitions are to reduce the compan*s carbon footprtnt by undertaking a carlx)n a￿lt to plan our actions. We already operate a paperless finanaal system but need to build on further envlronmentslly sustainable activities. This will then aid in setting realistic tsrgets to be agreed and implemented over the short tnedium, and long terni and wi51 be included as regular reporting to the board. Flnancial Review The out-tum for the year is a surplus of £63,891 (2023: deficit £20,897) this is made up of an unrestricted sU￿lUS of £62,066 (2023: deficit £2,510) and a restricted surplus of £1,825 (2023: deficit £18,387). The Trustees consider the finanaal perforfflan￿ of the charity to be satisfact(ry. The reserves policy Is to hold 3 months of o)re running costs inclL*Jing salaries and ovetheads, built from eamt income through our consultsncy work, ticket sales, school fees and prtxlucing f&s. The Board of Trustees review this policy annually. Tr su The CoMpan￿S main banking facilities are with Virgln money bank. In the prO￿5S of opening a second account to ensure all funds are covered by the FSCS £85,000 compensation scheme. The Company is required to have its funds readily accessible and so will retain its bank account deposits In risk free instant access deposit accounts. Prind al Fundln SoUr￿s See note 13 of the notes to the accounts for a detailed explanation of the Companvs restritted ftjnds. The main income source to the 'core' unrestricted funds was through grants and charged for *rvices. During the y&ir all expenditure has been concentrated on the key objectives of the charity. 14 ARCADE ARTS LTD CompanyNo: 12571419 Charity No: 1194711 Report of the Board of Trustees (incorpornling the Directorfs Report) For the year ended 31 March 2024 Plans for Future periods plea￿ see main objectives for the following year. CULTURAL PROGRAMMING SUPPORTING COMMUNrrIES: our iwo-year project New Shores funded by Paul Ham￿ Foundation supporknng creativity in Scarborough schools will begin. We11 launch a three-year Youth Music funded project ￿artx)roUgh Creative Youth Company running weekly in ScaTborough Pupil Referral Unit developing the creativity of underseNed young people. Our commitment to providing C￿at￿Vty opportunitie5 In Bridlington continues wth us produang SFQtlight Youth Theatre and presenting Pied Piper by Battersea Arts Centre BeallK)x Academy for family and schcM)I audlences. DEVELOPING ARTS ECOLOGIES: we WEII continue to support underrepresented people to start & sustain a creative career, in particular, working cla￿, northem women. leaders of the future. We will lead place-based patherships in Selby, Bridlington & Scarborough empowering communities to shape cultural provision, supporting artists & developing local proJU￿r5. We11 pr￿duce a one day Crealive Symposium ft)r artists in our region. ORGANISATIONAL DEVELOPMENT: Continue to derfelop ARCADE as an organisation focused on access, inclusion & diverse voices, enabling delivery of Let's Create in culturally underseNed areas. ORGANISATIONAL DEVELOPMEKf: A period of consolidation to develop the organisation, and a ffXUS on developing working prdctI￿ and new policies in access, anti- racism and environmental sustainability. We will t3ise our profile by presenting Grue on the world stage at Bradford City of Culture 2025 AuditlIndependent Examination As the Income of the Charity is tRlow £1 million, Arcade Arts has opted for a Charty Independert Examination for the year endlng 31 March 2024 in line with the Charrties Act 2011. 15 ARCADE ARTS LTD ConyyNo: 12571419 Charity No: 1194711 Report of the Board of Trustees (incorporating the Directorfs Report) For the year ended 31 Mafch 2024 statement of disdosure of information to Independent Examiner We, the Directors of the Company who held Offi￿ at the date of approval of these financial statements, each confirni so far as we are aware, that: #> there is no relevant infonnatlon of whith the Companvs Independent Examiner is unaware; and we have taken all the stsps that we ought to have tsken as Directors In order to make ourselves aware of any rdevant infomation and to establlsh that the Company's Independent Examiner is aware of that information. ststement of Directorfs responsibililies The charity Trustees (who are also the directors of Arcade Arts Ltd for the purpo*s of company law) are responsible for preparing a Annual Re￿rt and financial statements in accordan￿ with applicable law and United Kingdom Accounting Standards (United Kingdom GeneTrlly A￿pted Accounting practi￿). Company law requires the charity Trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitsble company arKJ of the incomlng resources and appIl￿tion of resour￿, includiw the income and experKJlture, of the charitable company for that period. In preparing the finanaal stratements, the Trustees are required to: select suitable accounting policies and then apply them consistently. obsenie the methods and prinaples in the Charities SORP; make judgements and estimates that are reasonable and prudent; state whether applicable UK accounting standards have tEen ft)Ilowed, subject to any material departu￿ disdosed and explained in the finanaal statements; prepare the financial ststements on the going concem basis unless it is inappropriate to presume that the thaiity will continue in bus5ness. The Trust￿ are responsible for keeping proper accounting records that dlsclose with reasonable accuracy at any time the financlal position of the charity and to enable them to ensure that the finanaal statements comply with the Q)mpanies Act 2006. They are also responsible for safeguarding the assets of the charity arKt hen￿ tsking reasonable steps for the prevention and detection of fraud and other iffegularities. The Trustees are responsible for the rna1ntenan￿ and integrlty of the corporate and financlal information included on the charitable companys website. Legislation in the United Kingdom goveming the prepardtion and dissemination of financial statements may differ from legislation in other jurisdicbons. 16 ARCADE ARTS LTD Company No: 12571419 Charity No: I l94711 Report of the Board of Trustees (inconjornling the Directorfs Report) For the year ended 31 March 2024 Inaependent Examiner A resolution to appoint Independent Exarniner, Rebecca Tiiffrtty MAAT of Ph￿niX ACCOUntsn￿ and Business Consultancy Limited was agreed at a Trustees meeting. rder of the PA)ard rowl ste Date: 17 IIRCADE ARTS LTD Company No: 12571419 Clwity No: 1194711 Income and Expenditure Account For the year ended 31 Marth 2024 2024 2023 INCOME >5 394,427 216,579 EXPENDITURE (330,536) (237,476) SURPLUSI{DEFIcrr) FOR THE YEAR BEFORE TAX 63,891 (20,897) Corpo￿tIon Tax SURPLUS/(DEFIcrr) FOR THE YEAR AFfER TAX 63,891 (20,897) RESERVES BROUGHT FORWARD 13 36,915 57,8L2 RESERVES CARIUED FORWARD 13 36,915 Total Income of £394,427 (2023." £216,579) comprises £64,653 (2023: £53,165) for unrestricted funds and £329,774 (2023: £163,414) for restricted fijnds. A detsiled analysls of Income by source is provided in the statement of flnancial activities. The surplus for the year of £63,891 (2023: deficit £20,897) comprises a surplus of £62,066 (2023: £2,510) for unrestricted fU[￿S and a surplus of £1,825 (2023: deficit £18,387) for restricted funds as shown in the statement of financial adivities. There are no recognised gains and losses otrEr than those passing through the income and expenditure account. All operations are continuing operations. The notes on pages 23 to 34 fomi part of these financial statements. 18 Orriri mrjr E ¥ 00. a)ON TJ C Q5 c oj cnc QJ C v) ¢u ARCADE ARTS LTD Company No: 12571419 Charity No: 1194711 statement of Cash Flows For the year ending 31 March 2024 2024 2023 Net Movement in Funds Add back depreciation charge Dedutt Interest income shown in invesling activities Decrea*l(increase) in debtors Increase/(decrease) in creditors Net cash used in operating artivities 63,891 1,152 (4,386) (20,897) 533 10 11 12 41,979 5,886 108 522 (58,559) Cash flows from investing activities Interest Income Profit on disposal of asset Purchase of tangible fixed assets Cash provided by in) investing activities 4,386 155 10 3,096 (1,715) Cash flows from financing activities Repayment of borrowing Cash used in financing artivities Increasel(decrease) In cash and cash equivalents 111,618 (26,611) cash and cash equivalents at the beginning of the year 30,946 57,557 Totsl cash and cash equivalents at the end of the year 142,564 30,946 The notes on pages 23 to 34 form part of these financial statements. ARCADE ARTS LTD Coropany No: 12571419 Charity No: 1194711 Notes to the financial statements for the period ended 31 March 2024 Accountsng poliaes 1.1. Accounting convention The finanaal statements have been prepared in attordan￿ with Accounting and Reporting by (Jarities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the ￿nanCIal Reporting Standard applicable In the UK and Republic of Ireland (FPS102) (effective 1st January 2019) - {Charities SORP (FR5102)), the financial retxJrt5ng stsndard applicable in the UK and Republic of Ireland (FRS102) arKI the Companies Att 2006. Arcade Arts Ltd meets the definiti'on of a public benefit entity under FRSIO2. Assets and liabilities are Initial￿ rec(*3nised at historical cost or transaction val unless otherwise stat&d in the relevant accounting wlicy note(s). 1.2. Company status The Charity is a company limited by guarantee. The members of the Company are the Directors named on page 3. The Company is actively engagirKJ in the recruitment of its membershlp. 1.3. Going Concern The Trustees consider the tharity to te a going concem. The accounts have been prepared on this basis. 1.4. Incoming I￿oUrceS Income is recognised when the chaiity has entitlement to the funds, any perfornian￿ conditi￿S attached to the item(s) of income have been met, it is probable that the income will be received and the amount can measured reliably. Services provided, investment income and rents are accounted for on the accrual's basis. Other income is accounted for when rEreived. All income is shown gross wlth associated costs inclLKled in eXpenditij￿. Grants received to fund the purchase of fixed assets are credited to the Statement of Financial Activities when the Company is legally entiued to the income. The related expenditure is charged to Assets in the Balan￿ Sheet. 23 ARCADE ARTS LTD Company No", 12571419 Charity No: 1194711 Notes to the financial ststements for the period ended 31 March 2024 Accounting policies (continued) 1.4. Incoming resources (continued) Gt7nts received of a revenue rklture are accounted for when the company is legally entitjed to the income and the amount can be quantified with reasonable accuracy. 1.5. Fund accounting Restrlcted funds are funds which are to be used in accordan￿ with specific restrictions imrKJsed by donors. Restricted fvnds are accounted for separately to each other and to the core fvrKling of the Company. General funds are unresbicted funds which a￿ available for use at the discretion of the Trustees in the fiJIther3n￿ of the general obJ￿￿veS of the charity and which have not been designated for other purty)ses. 1.6. Expenditure and irrecoverable VAT Expenditure is recognised On￿ there is a legal or construttive obligation to make a payment to a third party, it Ss probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditu￿ is classified under the following activity headings: . Expenditure on charitable activitses indudes the costs of all activities undertaken to further the purtws of the charity and their associated support costs. The (￿arity Is VAT registered from Febwary 2024. 1.7. Allocation of support costs Support costs are those functions that asslst the work of the charity but do not direttty undert3ke charitsble activities. SuppN)rt costs Indude baCk-Offi￿ costs, finance, personnel, payroll and governan￿ costs whlch supp)rt the Charities actiwties. All attivitres undertaken by the Charty are in furtherznce of the Charitable objects therefore all support costs have been allocated to charitable adivities. A full breakdown of all costs related to Charttable Activities has been provided in Note 5. 1.8. Tangible fixed assets and depreclation Tangible fixed assets are stated at cost less deP￿iatiOn. Depreciation is provided at rates calculated to write off the cost less esttmated residual value of each asset over its expected useful life (eX￿pt as detailed below) as follows: offi￿ Equipment Fumiture and Fixtures 33 % on the strdight-llne basis 250/0 on the straight-line basis 24 ARCADE ARTS LTD Company No: 12571419 CharityNo: I 194711 Notes to the finanaal ststements for the period ended 31 Marth 2024 1.9. Debtors Trade and other debtors are rec(MJnised at the settlement amount due after any trade discount offered. Prepayn￿Its are valued at the amount prepaid net of any trade discounts due. 1.10. Cash at bank and In hand Cash at bank and cash in hand includes cash and short term highly liquld investments with a sI￿rt matuiity of three months or less fn)m the date of acquisition or opening of the depo&t or similar accounL 1.11. Creditors and provisions Creditors and provisions are rec(MJnised where the charity has a pre*nt obligation resulting from a past event that will probably result in the trdnster of funds to a third party and the amount due to settle the obligation can be mea￿red or estimated reliably. Cr￿litorS and provisions are nomially reccgnised at thelr settlement amount after allowing for any trdde discounts due. Income and Expendrture Account The Company is a registered charity and so achievements cannot be measured by nomal commercial criteria. Accordingly, the Direttors consider that it would be inappropriate to pre￿nt a Profft and L055 Account in one of the formats set out by the Companie5 Art 2006. TrErefore, as pemiitted by the Companies Act, in order to refiect the special natu￿ of the Companvs activities, the Directors are of the opinion that it would be more appropriate to present an Income and Expenditure Account. 25 oooi ¢JOLno LnoNo I CO i OLno oAo 400 loo lo￿0 01￿0 000 'ootr oc 000 0¢￿0 ()NtrJrqcTh¢o￿ I ornlft p4mLn￿JK0Oth0 7J tci TtpE*rri Ill L U uEsEJ ¢u Q) O CTC L W Q) ￿ aj J a) oj ARCADE ARTS LTD Company No: 12571419 Charity No: 1194711 Notes to the Financial Statements for the year ended 31 March 2024 7. Staff costs Totsl 2024 Totsi 2023 Wages and salaries Employer5 Nl Employers Pengon Contributions Payroll & Penslon Fees Directors Emoluments Travel and Subslsten Training Artists Fees Sulxontratt Fees Other Staff Costs 131,320 7,165 5,782 393 106,235 4,446 3,110 716 3,345 712 67,832 7,251 7,397 1,179 50,554 3,900 314 177 851 Average number of paid staff Total 2024 Total 2023 Headcount There are no higher paid staff. 8. Operating su￿lUS The operdting surplus is arrived at after d￿rgIng. Totsl 2024 Toial 2023 Depreciation - Owned Assets D1￿CtorS Emoluments Accountsnts Remuneration 1,152 533 720 1,872 720 1,253 ARCADE ARTS LTD Company No: 12571419 Charity No: 1194711 Notes to the Financial Statements for the year ended 31 March 2024 9. Taxation As a charity the Company is exempt from Corpjration Tax. 10. Tangible Fixed Assets Furniture Equipment & Fixtures Totsl At 01 Apr 2023 Additions Disposals At 31 Mar 2024 2,110 1,290 120 2,230 1,290 120 Depreciation At 01 April 2023 Charge for the year On Disposals At 31 Mar 2024 583 1,128 643 1,152 24 Net Book Value At 31 Mar 2024 At 31 Mar 2023 36 11. Debtors Total 2024 Total 2023 Trade Debtors Bad Debt Provision Prepayments and Accrued Income 15,104 (3,347) 8,188 30 ARCADE ARTS LTD Company No: 12571419 Charity No: 1194711 Notes to the Financial Statements for the year ended 31 March 2024 12. Creditors a) Creditors: Amounts falling due within one year Total 2024 Total 2023 Trade Creditors Payroll Taxes Corporation Tax Pension Loans Accruals VAT Deferred Income 3,834 14,169 295 977 200 9,661 575 1,165 2,840 295 548 200 13,141 62,456 56,570 13. Accumulated funds Unrestricted Restrth Funds Funds 2024 2024 Totsl Funds 2024 Total Funds 2023 Balan￿ at 01 April Movement in funds for the year Balan￿ at 31 March 23,412 13,503 36,915 57,812 1,825 63,89l￿2O,897)_ 15,328 100,806 36,915 85,478 Analysis of net assets between funds 2024 2024 Unrestricted Restsicted Funds Funds 2024 Total Funds 2023 Totsl Funds Fixed Assets Current As*ts Current Liabilities Non-current Liabilltles 825 103,567 (18,914) 900 1,725 1,587 57,970 161,537 91,898 (43,542) (62,456) (56,570) 85 78 15 328 100 806 31 ARCADE ARTS LTD Con]panyNo: 12571419 Charity No: 1194711 Notes to the Financial Statements for the period ended 31 Marth 2024 13. Accumulated Funds (Continued) Restricted funds Balan￿ at Movement in Resources 0110412023 Incoming Outgoing Transfers Balance at 3110312024 Arts Council England East Riding PAG rborough Stories Young Women s Creative Company Dulverton Trust Collaborative Touring Network HEY Smile. NHS Wellbeing Positive Activities Two Ildings Community Fund 180,(KIO (179,ILYJ) (2,CKK)) (7,338) 7,338 6,164 (6,164) 20,5(MJ (20,5(KI) (1,064) (9,936) (5,(X)O) (4,￿0) 9,936 Restricted Funds - Grdnts Artislic Projects All Restric￿1 Funds 13,502 227￿00 (240,102) 102,275 (87,847) 13.502 329.775 (327,949) 900 14,428 15,328 A brief description of the RestrictgJ Funds is given below: Restricted Funds Arts Council England provided restiicted funding to SUPF))rt ARCADE'S staffing costs and core cultural communty prograrnme costs. Balance relates assets which have not been depreciation. Scarborough Stories, a community storytelling proiett which enabled our community to tell their true stories aEx)ut life in ScarLx)rough, culminating in three public perforrnan￿ on the High Street. Restritted funding was provided from the Yorkshire Coast BID and Coast and Vale Community Action (G4VCA). Young Women's Creative CompanyA a w￿kly, term time, creative group suprK)rting the Confiden￿ and creativity of Bridlington young women and girls, with performance opportunities. Restricted funding was provided by Hull Museums, Magic Little Grdnts & Do it for East Yorkshire. 32 ARCADE ARTS LTD Cornpany No.. 12571419 Clwity No: 1194711 Notes to the Financial Statements for the period ended 31 March 2024 East Yorkshire PAGI provided restricted fijnding to contribute towards projett Spark. Collaborative Touring Network Restricted funding received to contribute toward5 the development & performan costs for the show 'Bunker of lion, Dulverton Trus( restficted funding to be spent on engaging with young people, many of whom expeller￿ PCM)r ffentsl health, trauma and chaotic home lives. NHS Wellbeingi restricted fvnding to be Sp￿ on engaging wlth young people, many of whom ex￿len￿ pc()r mentsl health, trauma arKI chaotic home Ilves. 14. Directors. remuneration No remuneF7tion dir￿tlY or indirecuy out of the funds of the Company was paid or payable for the year to any Dirth (2022: Nil paid to Direttors). Dr Kelsie Acton and Ysabdle Wombwell have received payment of £nil (2023- £1,450) and £816 (2023 - £1,295) restEctr4ely in the financial year. These payments are made at ann's I￿th. There was one reimbursement of ￿Ve1 expen￿ made to a director during this year for £40,50. All travel expenses paid to employees, volunteers arKI Directors are In line with approved mileage rates *t by HMRC. 14. Related Party Trdnsactions The￿ were no related paty transactions. 15. Other recognised gains and losses The￿ were no other recognised gains or losses. 16. Members The Ilabllity of the members is limited. Every member of the Company undertakes to contribute such amunt as may be required, not exceeding £1, to the Q)mpanls assets if it should be wound up while he or she is a member, or within one year after he or she ceases to be a member 33 ARCADE ARTS LTD Company No: 12571419 Charity No. 1194711 Notes to the Financial Statements for the period ended 31 March 2024 for payment of the Company's debts and liabiltties contrdcted before he or she cease5 to be a member and of the costs, tharges expenses of winding up and for the adjustsnent of the rights of the contributories among themselves. If the Company is wound up or diwIv￿ and after all Its debts and Ilabilities have been satisfied there remains any property, it shall not be paid to or distributed among the members of the Company but strhall be gtven or transferred to some other charty or charities having objects similar to the obFcts of the Company. 17. Going cOn￿rn The Trustees conslder the Company to te a goiro concern for a period of at least 12 months beyond the date of the Indepernlent Examiners reporL We have confim*d funding for 3 years (April 2023 - Mar 2026) from Arts Council England, under their National Portfolio Organisation fvnding stream, we will receive £180,000 EEr year for 3 years. We also have numerous other partnerships in pla￿ over this same period. 34