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2024-03-31-accounts

Charity number: 1196665

WE ARE UNLIMITED ARTS CIO

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 MARCH 2024

HPH Chartered Accountants

54 Bootham YORK YO30 7XZ

WE ARE UNLIMITED ARTS CIO CONTENTS FOR THE YEAR ENDED 31 MARCH 2024

Page
Foreword from the Director 1 - 2
Trustees' Annual Report 3 - 25
Independent Auditor's Report 26 - 29
Statement of Financial Activity 30
Balance Sheet 31
Statement of Cash Flows 32
Notes to the Financial Statements 33 - 50

Foreword from our director

We Are Unlimited Arts has completed its second year as an independent not-for-profit Charitable Incorporated Organisation (CIO) in 2023-2024. This also marked our first year as an Arts Council National Portfolio Organisation (NPO), after running as a programme since 2013. This year brought us both growth and stability.

Since our inception, as a programme and then later as an independent organisation, we have commissioned over £6.5 million to support 521 artists, reaching audiences of over 6 million people.

Our team works remotely across the country, with a temporary hub at The Art House in Wakefield as we await our permanent home in autumn 2024.

Our programme, consisting of COMMISSION, DEVELOP, SUPPORT, CONNECT, and CHANGE strands continues to support disabled artists and advocate for greater access and inclusion in the cultural sector. We maintained a hybrid, digital-first approach due to the ongoing impact of the COVID-19 pandemic.

increased our funding both from Arts Council Wales and Creative Scotland.

Our partnership with the British Council has grown, supporting UK disabled artists to collaborate internationally. And we have two more years of support from the Paul Hamlyn Foundation.

Additionally, we secured new funding from various sources:

We deeply appreciate the support of our artists, funders, partners, staff, freelancers, and audiences. They are integral to our success.

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Headline activities for 2023-2024

Jo Verrent, Director

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WE ARE UNLIMITED ARTS TRUSTEES’ ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities

Unlimited is an arts commissioning body that supports, funds, and promotes new work by disabled artists for UK and international audiences. Our main activities and goals are:

Charitable Objectives

Vision

Unlimited commissions extraordinary work from disabled artists until the entire cultural sector does. This work will change and challenge the world.

Aims

practices.

We commission work from disabled artists to change the sector. We develop, support and connect disabled artists to the sector. We develop and connect the sector to disabled artists to remove barriers and ensure that any change is embedded and sustainable.

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Our Values

Our values guide our work:

Context

We operate within the UK arts sector, supported by funding from Arts Council England, Arts Council of Wales, and Creative Scotland. In our second year as an independent organisation, we have continued our strong partnership with the British Council, focusing on arts projects that connect UK disabled artists with those in official development assistance (ODA) countries. Additionally, the Paul Hamlyn Foundation continues to aid our SUPPORT strand of activities.

Our presence in the north of England is expanding thanks to funding from the West Yorkshire Combined Authority (WYCA) for our Accessibility programme, which started late in the year and will continue through 2025.

Each of our funders has its own strategic direction. We particularly align with Arts Council England’s 10-year strategy, Let’s Create, which aims to provide everyone in England with access to high-quality cultural experiences. Let’s Create outlines three outcomes and four investment principles that we adhere to:

Outcomes:

Investment Principles:

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Our objectives and activities for the year focused on delivering our committed programme to meet the needs of disabled artists and the broader arts, creative, and cultural industries. This review highlights our achievements and outcomes over the reporting period.

ensure that our aims, objectives, and activities remain aligned with our stated purposes.

They carefully consider how planned activities will contribute to our set objectives.

sincere appreciation for their contributions.

Achievements and Performance for the Year Ended 31 March 2024

Our main activities, achievements, and outcomes for the year are detailed below. All our charitable activities are aligned with our strategic mission and aims, carried out to further our charitable purposes for public benefit. This report outlines key achievements delivered through our primary activities.

COMMISSION

Commissioning artists is our core function. This year, we made 43 commission awards to 60 disabled artists, against a target of 55.

These commissions were awarded as follows:

UK Open Awards

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International Open Awards

British Council Micro Awards Round 5

Strategic – New Dimensions Partnership 2023

Strategic – Kirklees Year of Music Micro Commissions 2023

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Strategic - Bradford 2025 Year of Culture Micro Commissions

Strategic – International Awards 23/24

Each award round (except for the Strategic International and New Dimensions Partnership) was openly publicised for eligible applicants, with selections made by disabled-led panels. Details of award decisions were published on our website and amplified via social media, including equalities data where possible within GDPR best practice.

Our strategic awards address gaps in our award-making. For example, our strategic micro commissioning with Kirklees Year of Music was a key partnership in a Priority Place/Levelling Up for Culture place – designated by Arts Council of England and the government respectively for being underserved with arts provision. Our partnership with the New Dimensions consortium specifically focuses on large scale work with the potential for touring. Our ten micro awards for Bradford 2025 UK City of Culture support our place-based activities in West Yorkshire.

We have continued to support our 2022/2023 commissioned artists through their commissioning journeys alongside previous commissioned artists.

The 2023 recipients of the UK Partner Awards

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The 2023 recipients of the International Partner Awards

enable ZU-UK to ensure disabled attendance at two disabled-led forums: one coinciding with COP30 in Brazil and the other during the 2025-26 Season of Culture in Liverpool. This new initiative will focus on exchanging disabled-led creative methodologies between the UK and Brazil, aiming to provide alternative perspectives to the Western mainstream narrative on climate change.

Previous commissioned artist impact and achievements:

Joanna Holland’s first solo show at Attenborough Centre

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DEVELOP

Our strand to improve routes of direct support and engagement for disabled artists, both awarded and shortlisted. And that works to support Partner Awards organisations.

What we achieved:

We awarded 36 bursaries of £1,500 each for artists to develop or upskill their practice.

We hosted a visit to IETM’s Environmental Focus event in Luxembourg for three alumni artists Laura Fisher, Hassun El-Zafar, and Chanje Kunda.

Hassun El-Zafar: “I learned about the diverse uses of different art spaces, from traditional theatres to unconventional venues, and the creative potential inherent in each setting. Furthermore, touring art to connect communities resonated deeply, underscoring the power of cultural exchange to foster dialogue and the discovery of common ground among diverse audiences.”

CONNECT

This strand covers both the Ally and Connects programmes.

Our ally programme is for organisations across the cultural sector who have committed to working with us. Our shared ambition is to increase the level of disabled-led art being programmed, produced, and commissioned across the UK and internationally.

Our current allies:

Level one (organisations we have worked with for the last 12 months):

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Level three (organisations we’re working with on long term strategic partnerships):

What we achieved:

Provided approximately 65 hours of 1-2-1 support to over 13 current allies at levels 1, 2, and 3.

Conducted three sessions for level two allies involved in partner awards.

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Our Senior Producer delivered a part time secondment to Battersea Arts Centre, a level three ally.

Provided an additional presenting grant to level two ally, Polka Theatre.

CONNECTS links artists with sector organisations through both physical and online gatherings, fostering collaboration and networking.

This year we planned the following events:

Strategic achievements

Secured an Unlimited commission as part of the 2024 French Cultural Olympiad.

Jonny Costen's Louder is Not Always Clearer will be presented in both performative and filmed formats at the TNB festival, Brittany in November 2024.

CHANGE

our campaigns, resources, and public speaking.

What we achieved:

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Development of resource with organisations GUILD, East Street Arts, Babeworld, Contemporary Other, Kaleider, Mafwa Theatre, and Span Arts.

Two events for organisations in April and September 2023 and one for individuals in March 2024 with a total reach of 90.

An awareness raising event at What Next, IETM Aarhus, Denmark as part of their Pitchorama.

7,919 online views across the campaign plus 6,337 views and 276 downloads of A Toolkit for artists and freelancers when asked to work for nothing.

30 organisations signed up and pledged to create change

 Resources

last year exceeding our 20% growth target.

New resources created included:

  1. Nothing for Nothing: In a cultural sector based on an expectation of free labour – how can I do nothing for nothing? in April 2023 476 pageviews with no downloads

  2. Nothing for Nothing: Are you asking people to do something for nothing? in April 2023 430 pageviews and 61 downloads 3. Nothing for Nothing: A toolkit for artists and freelancers when asked to work for nothing launched in May 2023 19,018 pageviews and 856 downloads

  3. Accessible Recruitment and Employment launched in January 2024 with 1,810 pageviews and 374 downloads

Some of our existing resources continue to gain good traction, including the following list of top performing:

  1. Creating Your Own Access Rider: 4,262 pageviews and 824 downloads

  2. Cards for Inclusion: A new way to play access 3,499 pageviews and 653 downloads

  3. Accessible Marketing Guide – 1,293 pageviews and 472 downloads

 International Collaborations

A Spanish Language resource development of Cards for inclusion in collaboration with Viviana Flores Rayo in Chile.

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Artists: Nemias Tanchiva (Perú), Tania Sánchez (México), Pedro Marrero (Venezuela) were commissioned to create bespoke illustrations for the pack.

Distribution including 400 sets across Chile, México, Perú, and Venezuela.

Website visitors 5,347 unique visitors (Mid-July to Mid-Nov 2023).

International launch events:

Tania Sánchez: “Cards for Inclusion completes my daily struggle as an activist for disabled rights, blending my art and activism. It sends a clear message: protocols, awareness, and adjustments are needed for full participation and rights access.”

Gained funds to develop a three-strand programme of activities for arts organisations and creatives in Bradford, Calderdale, Kirklees, Leeds and Wakefield to provide training, advice and guidance and micro capital grants through 2024 to 2026.

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SUPPORT

This is our strand of work that nurtures our community of artists to make the work they want to make, build and sustain artistic careers, and ensure our own support structures centre artists.

The Paul Hamlyn Foundation grant supported 105 individual artists with various opportunities, including peer sessions and hardship grants totalling £7,681.

We reached out and engaged our alumni artist network on what they want and how best to support them through listening work and an artist survey.

alumnus.

We recruited independent consultancy TIALT to work with us to develop an evaluation model and action plan for the delivery across our work.

Artist grant recipient: “That's what I love most about Unlimited: setting humane professional standards and living and breathing them. Massive thanks.”

OUR AUDIENCES

We have three main primary audiences we work with:

  1. Disabled artists – existing and new

  2. Culture sector organisations and the people working in/with them

  3. Wider society for our commissions, campaigns and work

What we know about each audience segment varies dependent on the nature of being an artist commissioner and funder.

1. DISABLED ARTISTS

Our largest commissioning opportunity this year was the UK Open and International awards that received 484 artist applications.

We received most applications for combined arts (32%). The next highest number was for visual arts (22%), then theatre (19%), ‘other’ (9%), dance (6%), literature (6%) and music (5%).

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Compared with our 2022 data, there’s been a slight increase in applicants making theatre (+1%), music (+2%), and literature (+3%) and a slight decrease in applications working in combined arts (-3%), visual arts (-1%), ‘other’ (-1%) and dance (-1%).

Demographics of applicants

Age

Compared with 2022, we’ve noticed a decline (-6%) in applicants aged 35-49 and a slight increase (+1%) in applicants aged 18-19.

Gender

2% preferred not to say. Of those who did, 49% defined as female, 25% as male, 18% as non-binary, and 6% chose to define using other terms including gender fluid, genderqueer, gender non-conforming, neurogender, agender, butch, femme, non-binary woman, trans man, transmasculine, transfemme and various combinations of the above.

Compared with 2022, we’ve noticed a slight decline (-3%) in applicants who define as female and a slight increase in applicants who define as male (+3%) and non-binary (+1%).

Ethnicity

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Compared with 2022, we’ve noticed an increase in applicants identifying as having a White background (+4%) and a decrease in those defining as having another Black/African/Caribbean background (-6%).

Sexuality

Compared with 2022, there is a decrease in those who preferred not to say or didn’t know (-4%), as well as a drop in those who defined themselves as a gay man (-6%) or gay woman/lesbian (-2%).

Disability

Compared with our 2022 data, there is a drop in applicants defining themselves as a disabled person (-5%) and a slight rise in those choosing to define using other terms (+2%).

Intersectional barriers

We asked some additional questions to look at other intersectional factors.

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Against 2022, we noticed a rise in the number of applicants who are precariously employed and/or on a zero hours contract (+6%).

2. CULTURE SECTOR

arts organisations, arts festivals, arts venues, local authorities, museums, galleries and libraries, outdoor arts agencies, universities with an arts and cultural focus.

Our Ally programme adapts to the diverse and varied needs of arts and cultural organisations across the UK. We have seven tier-one allies, 12 tier-two allies, and five tier-three allies, with a total of 137 organisations in the ally network.

We held two stakeholder meetings bringing together representatives from our key funders, disability-led arts organisations across the UK, our tier three allies, and the chairs of our independent selection panels. These sessions provide valuable external perspectives on important questions and help us build strong relationships.

3. WIDER SOCIETY

As a commissioner we have limited access to data and demographics for this segment so can only report on reach figures for active commissions.

We achieved a total audience reach of 1,870,348, with 206 showings across the UK, internationally, and online.

Our organisational communications channels and their reach do provide a useful indication of the growing impact we are making more widely as our followers and web visitors are a combination of all our audiences - artists, culture sector organisations and workers and people interested in our disabled led work

What we achieved:

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Future Plans

We aim to continue our mission, enhancing support for disabled artists and fostering inclusivity in the arts. This includes expanding our resources, strategic partnerships, and commissioning opportunities to ensure sustained impact and growth in the sector.

face no barriers or discrimination.

measures and the global Covid pandemic. Our approach involves a three-stage cycle:

  1. Stabilise and Solidify (2023-2026):

  2. Establish our place in the sector.

  3. Set up systems, targets, and reporting methods.

  4. Ensure our values are lived and grow as an organisation.

  5. Assess, Prioritise, and Adapt (2026-2029):

  6. Reassess our purpose.

  7. Adapt to prioritise actions needed for further change.

  8. Contract and Close (2029-2033):

  9. Prepare to close while embedding changes and ensuring a lasting legacy.

flexible, adaptable, accessible, inclusive, and intersectional. This is essential in the rapidly changing context of global events like the pandemic, Brexit, austerity, and various crises.

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Goals for the next two years

By doing so, we aim to solidify our operations and ensure we can effectively support and lead within the cultural sector.

Volunteers

We don’t use volunteers. We believe that, where possible, work should be paid or, as a minimum, some benefit should be exchanged. This is at the heart of our Nothing For Nothing campaign to challenge the exploitation rife within the cultural sector and which particularly manifests with disabled people. However, as required by the Charity Commission, our Board are volunteers and only claim expenses for board-related activity.

Principle risks and uncertainties

We have an active risk register, which is monitored across 9 areas and details risks and mitigations. The Board sees the register quarterly and the top risks and mitigations are discussed. In the latest iteration (April 2024), we have 8 low risks, 21 medium risks, 1 high risk and 0 extreme risks post mitigation. The high risk is in relation to Reputational damage (Unlimited's reputation is damaged by association with Artists or organisations or through its own actions). This is scoring as high whilst we increase mitigations (as discussed in a board meeting in May 2024).

The trustees take an anticipatory approach to risk management, especially in relation to finance, scanning ahead for factors likely to impact on the financial position and performance of the organisation going forward; for example, aiming for multi-year funding agreements from funders where possible. Steps have been taken to limit financial vulnerability where possible.

In addition, our core funder, Arts Council England, awards each NPO a risk rating quarterly. This is a numerical score between 2 (lowest) and 11 (highest). Our rating through the year has remained at 3.

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Financial review

In the year ended 31 March 2024, we had incoming resources of £1,989,388 (2023: £2,596,524), of which £918,500 (2023: £2,545,139) were restricted funds, and expenditure of £1,914,116 (2023: £1,926,650), of which £907,329 (2023: £1,904,444) related to restricted funds. The total reserves at the period end were £745,146 (2023: £669,874), of which £646,634 (2023: £635,463) were restricted funds. As such, free reserves, after allowing for restricted funds and fixed assets, are £90,523 (2023: £26,325).

Our principle funding for the year ending 31 March 2024 was a £1,000,000 grant from Arts Council England for year 1 of NPO funding (2023: £750,000 project grant). In addition we began the year with confirmed increased funding from Arts Council Wales £80,000 (2023: £60,000) and Creative Scotland £90,000 (2023: £60,000).

In 2024, we gained significant additional funding of £550,000 from British Council (2023: £1,125,000 over two years) which meant we were able to thread international work through all our strands. Our Support strand continued to be possible thanks to funding from Paul Hamlyn Foundation over four years (2024: £77,000, 2023: £70,000).

Looking ahead to 2024/25, we’ve consolidated our position within the sector. This is recognised by the Arts Council England National Portfolio support at £1 million per annum, now confirmed for four years.

Reserves policy

The trustees acknowledge that reserves are necessary to bridge the gap between the spending and receiving of resources and to cover unplanned emergency expenditure – for the organisation and in relation to commission activity. The trustees consider that the ideal level of free reserves would equate to a minimum of 3 months’ running costs. This was originally estimated at £50,000, however, due to our increased funding and activity, the trustees will be increasing this figure to more accurately reflect our current size. This discussion and subsequent decision is due to take place in July 2024.

As a new organisation in 2023, starting from a zero-reserve position, it will take time for Unlimited to build up reserves. Unlimited’s current level of free reserves at the end of the reporting period are £90,523 (2023: £26,325). Financial details on these funds, including specifics of what is held where, what is restricted, and what is held for what purpose, can be found in the financial information in this report.

Whilst our reserves are still being established, the balance sheet remains strong due to the number of funders investing in our activities, with a high proportion of these providing funds early. Given our regular reforecasting processes, the trustees consider Unlimited to be a sound going concern.

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The trustees are fully aware that the limited free level of reserves, together with the current economic and political climate, may prove challenging in the years to come. The trustees have plans in hand to address this situation, supporting low-risk investment of funds received in advance and using earned income to slowly accumulate further reserves from this point until the minimum preferred level is obtained.

Structure, governance and management

Governing Document

We are a Charitable Incorporated Organisation, registered as a charity on 19 November 2021. We were established as a CIO under a constitution which set our objects and powers as a charity. Our registered name is We Are Unlimited Arts. The constitution has not been reviewed during the period as it’s less than three years old. The trustees were appointed after the Charity Governance Code was updated in December 2020, hence, we have been set up to be compliant with the code from becoming a charity.

All trustees give their time voluntarily. Where any receive benefit from us, this is duly and correctly recorded (several of our trustees are disabled artists). We have a detailed Conflict of Interest policy outlining our procedures in this regard. Any expenses reclaimed from us are set out in the accounts.

Appointment of trustees

Members are trustees for the purpose of charity law. Under the requirements of the constitution, apart from the first charity trustees, every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of our trustees. The first trustees have a range of terms from one year to three years to avoid all becoming due for consideration at the same time. Any person retiring as a charity trustee is eligible for reappointment and may serve for three consecutive terms. Due to the nature of our vision, we aim to ensure that the Board of Trustees is as diverse as possible in terms of disability, gender, sexual orientation, ethnicity and more.

During this year, two board members announced their intention to step down – Ruth Gould and Sorcha Pringle as noted in the 14 Nov 2023 minutes from the board mini meeting on trustee recruitment and David Dixon, as noted in the full board meeting on 21 Feb 2024, after a considerable period of inactivity. These changes were made on the Charity Commission register on 1 May 2024.

Board meetings and devolved authority

In this period, the Board met quarterly, alternating a formal meeting with a series of mini meetings (one of which is a reporting meeting) which supports access and allows for deeper conversation in smaller groups.

In the light of the upcoming changes to the board, a recruitment process began in autumn 2023 to add new skills and fresh blood to the board. It was agreed at least one place would be held for a learning-disabled person and both board and staff received training from the charity Grace Eyre, led by three of their learning-disabled trustees and their support worker.

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28 people applied and 12 were selected to go to the next step – which was to be discussed by the People and Culture subcommittee. From this step, 9 candidates were chosen, each of whom will attend a board mini meeting in May 2024, and have further conversations with the board before a final selection is made and onboarding begins.

The Finance subcommittee continued to meet quarterly through this period and the People and Culture subcommittee and the Equality, Diversity and Inclusion subcommittee now both meet every 6 months. All have appropriate delegated authorities and minutes of their meetings are provided to the Board. A written report is also made to the Board on any specific delegated tasks or work undertaken. Terms of reference are available and reviewed at regular intervals.

Day to day management of operations is delegated to the Senior Management Team (SMT). In 2023/24 this comprised: Director Jo Verrent, Senior Producer Cat Sheridan, Finance Manager Melody Daniels, and Communications Manager Ranjit Atwal.

Trustee induction and training

All new trustees are given an induction which includes background information about Unlimited and access to the Board Sharepoint site, which includes a trustees' handbook, the Constitution, information regarding the role of being a charity Trustee, and all relevant meeting materials. Their access needs are noted. In 2023/24, all Board members were asked to complete an access rider, giving parity with staff and artists. New trustees will attend briefing sessions with the Chair and Director and be offered other induction support.

Board members are kept up to date with key business and compliance issues, the operating environment and any relevant key changes in charity regulations. They’re also offered training opportunities as they arise. In 2023/24 this included a session with Grace Eyre on recruiting and working with learning disabled people as trustees.

Remuneration policy for key management personnel

Remuneration for key management personnel is based on attracting suitably qualified people for the roles whilst taking account of available funding. A full salary review was undertaken in 2022/23 with all roles benchmarked against the sector and options provided for lag, match or lead. The Board opted to take a position between match and lead. A detailed Pay and Reward scheme was developed in partnership with Narrow Quay HR and adopted. This scheme was reviewed in 2023/24 showing broad agreement and understanding amongst the staff. Recommendations to improve will be implemented in 2024/25. A 7% cost of living award was made across the Board in April 2024. All staff are automatically enrolled into a pension scheme, unless they choose to opt out or remain under the previous scheme. We don’t operate a bonus scheme.

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Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees’ annual report including the strategic report and the financial statements. These must be in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The laws applicable to Charities in England and Wales requires the trustees to prepare financial statements for each financial year. These must give a true and fair view of the state of our affairs and of the incoming resources and application of resources, including our 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 disclose, with reasonable accuracy at any time, our financial position. These should also enable them to ensure that the financial statements comply with the applicable laws and regulations. They’re also responsible for safeguarding our assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on our website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

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The trustees are members of Unlimited but this entitles them only to voting rights. The trustees have no beneficial interest in us. Members of the Board of Trustees who served during the year and up to the date of this report are set out on the Reference and Administrative page.

For the year ended 31 March 2024, Auditors HPH were recruited as our auditor during the year.

The trustees’ annual report has been approved by the Trustees on 31 July 2024 and signed on their behalf by Anna Starkey, Chair.

If you would like this information in an alternative format, please contact us.

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Reference and administrative details

Registered name of the Charity

We Are Unlimited Arts

Trustees

Other working names the Charity uses

Unlimited

The Charity’s registration number

1196665

Company number

CE027249

Principle office

WX Wakefield Exchange Union Street WAKEFIELD WF1 3AE

Senior management

Bankers

The Co-operative Bank PO Box 250 SKELMERSDALE WN5 6WT

Auditors

Sarah Wearing, FCA, DChA HPH, Chartered Accountants 54 Bootham YORK YO30 7XZ

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INDEPENDENT AUDITOR’S REPORT TO THE TRUSTEE’S OF WE ARE UNLIMITED ARTS CIO FOR THE PERIOD ENDED 31 MARCH 2024

Opinion

We have audited the financial statements of We Are Unlimited Arts for the period ended 31 March 2024 which comprise Statement of Financial Activities, Balance Sheet, Statement of Cash Flows, and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information contained within the annual report. The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 require us to report to you if, in our opinion:the information given in the financial statements is inconsistent in any material respect with the trustees’ report; or

Responsibilities of trustees

As explained more fully in the trustees’ responsibilities statement set out on page 21, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

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In preparing the financial statements, the trustees are responsible for assessing the charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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In response to the risk of irregularities and non-compliance with laws and regulations and risk of fraud, we designed procedures which included but were not limited to: sample testing on the posting of journals, detailed substantive testing on the completeness of income, and review of trustee’s minutes.

Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. These inherent limitations are particularly significant in the case of misstatement resulting from fraud as this may involve sophisticated schemes designed to avoid detection, including deliberate failure to record transactions, collusion, or the provision of intentional misrepresentations. We are not responsible for preventing fraud and cannot be expected to detect all fraud.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

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. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

HPH, Chartered Accountants Statutory Auditor 54 Bootham

YORK

YO30 7XZ

31 July 2024

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WE ARE UNLIMITED ARTS CIO STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Note
INCOME AND ENDOWMENTS FROM:
Donations, legacies and grants
3
Charitable activities
4
Investment income
TOTAL INCOME
EXPENDITURE ON:
Raising funds
5
Charitable activities
6
TOTAL EXPENDITURE
NET INCOME
Transfer between funds
NET MOVEMENT BETWEEN FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD		 Unrestricted
Funds
£
1,022,360
23,299
25,229
1,070,888
-
1,006,787
1,006,787
64,101
-
64,101
34,411
£ 98,512		 Restricted
Funds
£
918,500
-
-
918,500
-
907,329
907,329
11,171
-
11,171
635,463
£ 646,634		 Total Funds
Year ended
31 March 2024
£
1,940,860
23,299
25,229
1,989,388
-
1,914,116
1,914,116
75,272
-
75,272
669,874
£ 745,146		 Total Funds
19 November 2021
to 31 March 2023
£
2,542,706
45,633
8,185
2,596,524
8,670
1,917,980
1,926,650
669,874
-
669,874
-
£ 669,874

CONTINUING OPERATIONS

Income and net movement in funds derive wholly from continuing operations.

The notes on pages 33 to 50 form part of these financial statements.

30

WE ARE UNLIMITED ARTS CIO BALANCE SHEET AS AT 31 MARCH 2024

Note
FIXED ASSETS
Tangible fixed assets
13
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
CREDITORS
Amounts falling due within one year
12
NET CURRENT ASSETS
TOTAL ASSETS LESS CURRENT
LIABILITIES
NET ASSETS
REPRESENTED BY
Unrestricted undesignated funds
15
Unrestricted designated funds
15
Restricted funds
16		 Unrestricted
Fund
£
7,989
7,989
20,241
490,562
510,803
420,280
90,523
98,512
£ 98,512
90,523
7,989
-
£ 98,512		 Restricted
Fund
£
-
-
31,317
1,180,220
1,211,537
564,903
646,634
646,634
£ 646,634
-
-
646,634
£ 646,634		 Total
2024
£
7,989
7,989
51,558
1,670,782
1,722,340
985,183
737,157
745,146
£ 745,146
90,523
7,989
646,634
£ 745,146		 Total
2023
£
8,086
8,086
236,469
1,189,254
1,425,723
763,935
661,788
669,874
£ 669,874
26,325
8,086
635,463
£ 669,874

The notes on pages 33 to 50 form part of these financial statements.

Approved by the Board of Trustees on 31 July 2024 and signed on their behalf …................................. Anna Starkey (Chair)

31

WE ARE UNLIMITED ARTS CIO STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

Note
CASH FLOWS FROM OPERATING ACTIVITIES
Cash generated from operations
19
Net cash provided by operating activities
CASH FLOWS FROM INVESTING ACTIVITES
Purchase of tangible fixed assts
Interest received
Net cash provided by/(used) in investing activities
CHANGE IN CASH AND CASH EQUIVALENTS
IN THE REPORTING PERIOD
Cash and cash equivalents at the beginning of
the reporting period
OF THE REPORTING PERIOD
20
CASH AND CASH EQUIVALENTS AT THE END		 2024
£
460,216
460,216
(3,917)
25,229
21,312
481,528
1,189,254
£ 1,670,782		 2023
£
1,192,261
1,192,261
(11,192)
8,185
(3,007)
1,189,254
-
£ 1,189,254

The notes on pages 33 to 50 form part of these financial statements.

32

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1 General information

The Charity is a CIO (Charitable Incorporated Organisation) and consequently has no share capital. In the event of the Charity being wound up, the members of the CIO have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities. The Charity is registered in England and Wales (charity no. 1196665).

The address of the registered office is:

WX Wakefield Exchange, Union Street, Wakefield, WF1 3AE

2 Accounting policies

a) Basis of Accounting

The Accounts have been prepared 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 or Ireland (FRS 102) (effective 1 January 2019) - (Charites SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102).

We Are Unlimited Arts 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 note(s). The accounts are prepared in UK Sterling and rounded to the nearest £.

b) Going Concern

The Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for 12 months from signing the accounts. Therefore they believe that the going concern basis of accounting is appropriate in preparing the annual financial statements.

c) Income

Donations and legacies are accounted for when they are receivable by the Charity. Other income is accounted for on an accruals basis as far as is prudent to do so.

Donations in kind are included at their market value.

d) Grant income

Revenue grants are credited to the income and expenditure account at the time when they are entitled to the receipt. Any unspent restricted grants at the period end are carried forward as restricted funds in the balance sheet.

e) Expenditure

Grants payable are accounted for in the year in which the grant was committed to. All other expenses are accounted for on an accruals basis. Direct costs are allocated to the key strategic areas of activity, based on the 5 programme workstreams, COMMISSION, CONNECT, DEVELOP, SUPPORT and CHANGE.

33

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

2 Accounting policies (continued)

f) Taxation

As a registered charity it benefits from rate relief and is generally exempt from Income Tax and Capital Gains Tax, but not from VAT. The Charity is not registered for VAT and therefore the irrecoverable VAT is included in the cost of those items to which it relates.

g) Pension costs and other post-retirement benefits

The Charity operates a defined contribution pension scheme. Contributions payable to the Charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

h) Tangible fixed assets

Tangible fixed assets are included in the financial statements at their historical cost.

Depreciation is calculated to write off the cost of fixed assets over their expected useful lives on a straight line basis. The rates used are as follows:

Computer equipment - 33.33% straight line Furniture & fittings - 25% straight line

i) Debtors

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

j) Cash at bank and in hand

Cash at bank and cash in hand includes cash and any short term deposit accounts with a maturity of three months or less from the date of opening.

k) Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Funds

The Unrestricted Funds are funds which the Trustees are free to use in accordance with the charitable objects.

Designated Funds are funds set aside by the Trustees for specific purposes.

Restricted Funds are funds which have been received by the Charity for a specific purposes other than the general objectives of the Charity. The restricted funds are analysed in note 16.

34

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

3
4
**5 **		 Income from donations, legacies and grants
Unrestricted
Restricted
Funds
Funds
£
£
Government grants
1,009,976
757,500
Other grants
-
161,000
Donations
300
-
Donations in kind
12,084
-
£ 1,022,360
£ 918,500
Nature and amount of Government Grants
Arts Council England
Support the Charity in its first years of operations.
Arts Council Wales
Enable partner award commission activity in Wales.
British Council
Enable international work across all Workstreams.
Creative Scotland
Enable partner award commission activity in Scotland.
West Yorkshire Combined Authority
Accessibility grant.
Other
Other Government Grants
Income from charitable activities
Unrestricted
Restricted
Funds
Funds
£
£
Income from contracts
18,941
-
Income from recharged costs
-
-
Income from events
4,358
-
£ 23,299
£ -
Expenditure on raising funds
Unrestricted
Restricted
Funds
Funds
£
£
Fundraising costs
£ -
£ -		 Total Funds period
to 31 March 2024
£
1,767,476
161,000
300
12,084
£ 1,940,860
1,000,000
80,000
550,000
67,500
60,000
9,976
1,767,476
Total Funds period
to 31 March 2024
£
18,941
-
4,358
£ 23,299
Total Funds period
to 31 March 2024
£
£ -		 Total Funds period
to 31 March 2023
£
1,997,567
533,600
-
11,539
£ 2,542,706
750,000
60,000
1,125,000
45,000
-
17,567
1,997,567
Total Funds period
to 31 March 2023
£
26,683
14,260
4,690
£ 45,633
Total Funds period
to 31 March 2023
£
£ 8,670

35

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

**6 ** Expenditure on charitable activities
Grants to individuals
Grants to institutions (note 7)
Accessibility
Artist costs and fees
Commissions
Project development and management
Promotion and events
Other delivery costs
Support costs (note 8)		 Unrestricted
Funds
£
36,425
13,375
19,879
14,323
457,166
-
3,923
137,673
324,023
£ 1,006,787		 Restricted
Funds
£
20,893
35,025
23,440
19,282
499,867
4,116
342
179,665
124,699
£ 907,329		 Total Funds period
to 31 March 2024
£
57,318
48,400
43,319
33,605
957,033
4,116
4,265
317,338
448,722
£ 1,914,116		 Total Funds period
to 31 March 2023
£
135,170
80,100
39,294
84,109
968,853
3,684
39,302
218,270
349,198
£ 1,917,980

Analysis by activity is included in note 9

36

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

**7 ** Grants to institutions
17 Consultoria
Acesso Cultura
Artistic Development Residency
Atelier Nwando Limited
Battersea Art Centre
BlocProjects
Brighton Digital Festival
Buddug y Byd
China Plate Theatre Ltd
CoDa Dance Company
Community Murals
Compton Verney House Charity
Forma Arts and Media
Horniman Museum and Garden
Industry Hub at Edinburgh Fringe
Jack Dean & Company
MAYK-ing Space Artist Development Residency
Panel Gallery
SICK! Festival
Southbank Centre
The Creative Art House
The Paraorchestra
Zecora Ura Theatre		 Unrestricted
Funds
£
-
-
-
5,700
-
2,000
1,000
-
1,500
-
-
-
1,000
-
-
-
-
2,000
3,500
-
-
-
£ 16,700		 Restricted
Funds
£
2,370
7,500
-
-
4,000
-
-
230
-
-
330
-
-
-
-
-
-
-
-
-
12,270
-
5,000
£ 31,700		 Total Funds period
to 31 March 2024
£
2,370
7,500
-
5,700
4,000
2,000
1,000
230
1,500
-
330
-
1,000
-
-
-
-
2,000
3,500
-
12,270
-
5,000
£ 48,400		 Total Grants period
to 31 March 2023
£
-
-
7,000
1,000
-
-
-
-
-
500
-
800
3,300
3,000
10,000
2,000
4,000
-
-
28,500
-
20,000
-
£ 80,100

37

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

**8 ** Support costs
Staff costs
Consultancy fees
Training and development
Travel and subsistance
Freelancer fees
Human resources costs
Marketing and research
Rent and rates
Telephone and internet
Insurance
Computer costs
Printing, postage and stationery
Subscriptions
Accountancy fees
Bank charges
Independent auditors fee - audit fee
Independent auditors fee - other fees
Legal fees
Sundry costs
Depreciation
Governance costs		 Unrestricted
Funds
£
215,856
-
18,293
3,768
25,221
1,628
30,961
6,083
38
-
5,210
496
79
-
140
-
-
4,826
1,091
4,014
6,319
£ 324,023		 Restricted
Funds
£
84,497
-
5,066
-
-
3,841
4,180
1,235
46
4,218
7,807
273
112
-
1,201
7,177
2,525
36
398
-
2,087
£ 124,699		 Total Funds period
to 31 March 2024
£
300,353
-
23,359
3,768
25,221
5,469
35,141
7,318
84
4,218
13,017
769
191
-
1,341
7,177
2,525
4,862
1,489
4,014
8,406
£ 448,722		 Total Funds period
to 31 March 2023
£
180,871
57,702
12,383
8,396
14,150
9,379
18,879
7,000
96
2,330
16,603
2,047
-
3,625
326
6,600
2,640
95
953
3,106
2,017
£ 349,198

38

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

9 Analysis of expenditure on charitable activities by workstream

Expenditure on charitable activities
Grants to individuals
Grants to institutions (note 9)
Accessibility
Artist costs and fees
Commissions
Project development and management
Promotion and events
Other delivery costs
Support costs
Expenditure on charitable activities
Grants to individuals
Grants to institutions (note 9)
Accessibility
Artist costs and fees
Commissions
Project development and management
Promotion and events
Other delivery costs
Support costs		 CHANGE
COMMISSION
CONNECT
DEVELOP
SUPPORT
£
£
£
£
£
2,000
3,257
9,220
27,160
8,431
19,770
5,000
8,930
21,200
750
4,554
15,727
10,078
8,996
3,964
6,075
3,992
5,848
9,815
7,875
27,290
772,398
157,345
-
-
43
-
73
-
4,000
3,464
781
20
-
-
67,358
69,731
79,225
53,228
47,796
26,922
116,668
71,796
116,668
116,668
£ 157,476
£ 987,554
£ 342,535
£ 237,067
£ 189,484
CHANGE
COMMISSION
CONNECT
DEVELOP
SUPPORT
£
£
£
£
£**
30,000
1,500
6,300
18,670
1,000
-
800
58,500
17,300
-
13,675
9,656
6,056
7,464
2,443
15,570
21,475
8,488
22,444
16,132
100
876,824
40,000
150
51,779
3,400
104
-
81,180
200
4,423
1,380
16,734
15,865
900
14,506
47,425
70,570
44,736
41,033
20,952
90,791
55,873
90,791
90,791
£ 102,626
£ 1,049,955
£ 262,521
£ 298,600
£ 204,278		 Total Funds period
to 31 March 2024
£
50,068
55,650
43,319
33,605
957,033
4,116
4,265
317,338
448,722
£ 1,914,116
Total Funds period
to 31 March 2023
£
57,470
76,600
39,294
84,109
968,853
84,884
39,302
218,270
349,198
£ 1,917,980

*SUPPORT - This income and expenditure relates to the direct support of artists and not overhead costs (support costs) as detailed in note 8.

39

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

Staff costs
Gross salaries
Social security costs
Employers pension contributions
The average head count of staff employed during the year was 16 (2023: 10).
Staff bandings:
2024
2023
£60k - £70k
-
1
£70k - £80k
-
-
£80k - £90k
1
-
Over £90k
-
-		 Total Funds period
to 31 March 2024
£
471,571
40,304
10,506
£ 522,381		 Total Funds period
to 31 March 2023
£
295,699
22,096
6,412
£ 324,207

10 Staff costs

The key management personnel of the Charitable Company comprise the Trustees and the Senior Leadership Team. The total employee benefits of the key management personnel (including employer NIC and pension costs), with only senior leadership team members being paid, were £229,882 (2023: £146,887).

11
**12 **		 Debtors
Trade debtors
Prepayments
Accrued income
Other debtors
Creditors
Trade creditors
Accruals and deferred income
Grants payable
Other creditors		 Unrestricted
Funds
£
2,983
5,412
6,021
5,825
£ 20,241
Unrestricted
Funds
£
10,501
5,524
402,875
1,380
£ 420,280		 Restricted
Funds
£
-
31,317
-
-
£ 31,317
Restricted
Funds
£
8,275
41,786
513,998
844
£ 564,903		 Total
2024
£
2,983
36,729
6,021
5,825
£ 51,558
Total
2024
£
18,776
47,310
916,873
2,224
£ 985,183		 Total
2023
£
105,081
14,737
113,831
2,820
£ 236,469
Total
2023
£
26,360
13,819
720,890
2,866
£ 763,935

40

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

**13 ** Tangible fixed assets
Cost:
At 1 April 2023
Additions
At 31 March 2024
Depreciation:
At 1 April 2023
Charge for the year
At 31 March 2024
Net book values:
At 31 March 2024
At 31 March 2023		 Computer
equipment
£
11,192
2,425
13,617
3,106
4,014
7,120
£ 6,497
£ 8,086		 Furniture &
fittings
£
-
1,492
1,492
-
-
-
£ 1,492
£ -		 Total
£
11,192
3,917
15,109
3,106
4,014
7,120
£ 7,989
£ 8,086

41

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

**14 ** Analysis of funds
Unrestricted funds
General funds
Designated funds
Restricted funds
Total funds as at 31 March 2024
Unrestricted funds
General funds
Designated funds
Restricted funds
Total funds as at 31 March 2023		 Tangible fixed
assets
£
-
7,989
7,989
-
£ 7,989
Tangible fixed
assets
£
-
8,086
8,086
-
£ 8,086		 Current
assets
£
510,803
-
510,803
1,211,537
£ 1,722,340
Current
assets
£
28,839
-
28,839
1,396,884
£ 1,425,723		 Current
liabilities
£
(420,280)
-
(420,280)
(564,903)
£ (985,183)
Current
liabilities
£
(2,514)
-
(2,514)
(761,421)
£ (763,935)		 Total
£
90,523
7,989
98,512
646,634
£ 745,146
Total
£
26,325
8,086
34,411
635,463
£ 669,874

42

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

**15 ** Unrestricted funds
Unrestricted funds
General funds
Designated funds
As at 31 March 2024
Unrestricted funds
General funds
Designated funds
As at 31 March 2023		 Balance as at
01/04/2023
£
26,325
8,086
34,411
Balance as at
19/11/2021
£
-
-
-		 Incoming
Resources
£
1,070,888
-
£ 1,070,888
Incoming
Resources
£
51,385
-
£ 51,385		 Resourced
Expenditure
£
(1,002,773)
(4,014)
£ (1,006,787)
Resourced
Expenditure
£
(21,100)
(3,106)
£ (24,206)		 Transfers
Between
Funds
£
(3,917)
3,917
£ -
Transfers
Between
Funds
£
(3,960)
11,192
7
£ 7,232		 Balance as at
31/03/2024
£
90,523
7,989
£ 98,512
Balance as at
31/03/2023
£
26,325
8,086
£ 34,411

Funds have been designated for assets held for the use in the charity. Transfers into designated funds relate to monies spent on fixed assets in the year from restricted and unrestricted monies.

43

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

**16 ** Restricted funds
British Council - Main Grant
British Council - Operational Alliance
British Council - International
Shape - British Council - Micros
Arts Council Wales 2023
Arts Council Wales 2024
Creative Scotland 2023
Creative Scotland 2024
Fidelity Foundation
Paul Hamlyn Foundation
West Yorkshire Combined Authority
Shape - Setup and Strategic
Partner Awards:
Imaginate
Wellcome Collection
Total funds as at 31 March 2024		 Balance as at
01/04/2023
£
532,675
-
-
27,653
7,500
-
29,294
-
-
27,047
-
8,525
-
2,769
£ 635,463		 Incoming
Resources
£
-
250,000
300,000
-
-
80,000
-
67,500
75,000
77,000
60,000
-
9,000
-
£ 918,500		 Resourced
Expenditure
£
(416,307)
(200,000)
-
(27,653)
(7,500)
(80,000)
(44,294)
(45,000)
(7,554)
(70,496)
-
(8,525)
-
-
£ (907,329)		 Transfers
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
£ -		 Balance as at
31/03/2024
£
116,368
50,000
300,000
-
-
-
(15,000)
22,500
67,446
33,551
60,000
-
9,000
2,769
£ 646,634

44

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

**16 ** Restricted funds
British Council - Main Grant
Shape - British Council - Micros
Shape - British Council - IETM
Arts Council Wales
Creative Scotland
Paul Hamlyn Foundation
Shape - Setup and Strategic
Shape - Access and Touring
Shape - Southbank Festival
Shape - Arts Council England - Project Continuation
Wellcome Collection
Shape - National Lottery Community Fund
Wakefield Council
Arts Council England - Transition Year
Partner Awards:
SPAN Arts
Sage Gateshead
Southbank Centre
Wellcome Collection
Level and The Arthouse
Homotopia and Marlborough Productions
Polka Theatre
Eden Court Inverness
Bristol Ideas
National Theatre Wales
An Tobar Mull Theatre
Total funds as at 31 March 2023		 Balance as at
19/11/2021
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
£ -		 Incoming
Resources
£
1,125,000
99,270
5,000
60,000
45,000
70,000
29,244
21,913
21,000
151,293
15,723
4,500
6,000
750,000
7,500
15,000
7,500
36,000
5,000
12,846
19,850
7,500
7,500
15,000
7,500
£ 2,545,139		 Resourced
Expenditure
£
(592,325)
(71,617)
(5,000)
(52,500)
(15,706)
(42,953)
(18,121)
(21,913)
(21,000)
(151,293)
(15,723)
(4,500)
(6,000)
(745,366)
(7,500)
(15,000)
(7,500)
(33,231)
(5,000)
(12,846)
(19,850)
(7,500)
(7,500)
(15,000)
(7,500)
£ (1,902,444)		 Transfers
£
-
-
-
-
-
-
(2,598)
-
-
-
-
-
-
(4,634)
-
-
-
-
-
-
-
-
-
-
-
£ (7,232)		 Balance as at
31/03/2023
£
532,675
27,653
-
7,500
29,294
27,047
8,525
-
-
-
-
-
-
-
-
-
-
-
2,769
-
-
-
-
-
-
-
£ 635,463

45

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16 Restricted funds cont…

Purpose of restricted fund

46

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

16 Restricted funds cont…

Purpose of restricted fund

Shape - Southbank Festival Funds carried forward into the new organisation from Arts Council England via our previous programme lead delivery partner to support costs associated with Southbank Centre’s Unlimited festival. Shape - Arts Council England - Awarded to WAUA to enable continuation of commissioning activities (plus work on related strands DEVELOP, Project Continuation CONNECT and CHANGE) and to continue ongoing organisational development and set up. Wellcome Collection Project grant from Wellcome Collection for a strategic project designed to introduce disabled artists to the collection and support their ongoing professional development. Shape - National Lottery Project grant extension funds carried forward into the new organisation from National Lottery Community Fund Community Fund via our previous programme lead delivery partner to enable completion of New Infrastructure Programme activity (previously a 12-month programme, granted a 3 month extension). This grant was to support development of our new organisation’s independent infrastructure. Wakefield Council Awarded to support Unlimited's funding of 10 x £1,000 micro commissions plus £2,000 access costs, as part of the development of a range of additional project work leading to 'Wakefield Districts' Year of…'. Arts Council England - Funding to support two clearly defined aims of: Transition Year 1. Establish We Are Unlimited in it's first 15 months of operation as a sector leader to commission high quality work by disabled artists. 2. Deliver a new 4 strand framework for disabled artists; COMMISSION, DEVELOP, CONNECT, CHANGE Partner Awards Awards from partner organisations to fund specific, named commissions.

47

WE ARE UNLIMITED ARTS CIO NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

17
**18 **		 Trustee transactions
Owed to/(By)
Owed to/(By)
Amount
Balance
Amount
Balance
£
£
£
£
The following trustees were paid for services delivered to the charity:-
Hannah Aria - Peer support session and International commission
-
-
4,575
-
Hannah Aria - Access Support for UK Open Awards and Hardship Grant
420
-
-
-
Sonny Nwachukwu - Podcast interview, development grant and peer-to-peer session
-
-
1,225
1,075
Sonny Nwachukwu - Panellist and participation fees and related travel
385
-
Carol Edrich - Commission Officer Recruitment Panel
-
-
500
500
No Trustee received any remuneration or benefits by virtue of being a Trustee.
10 (2023: NIL) trustees were reimbursed for expenses relating to travel for Trustees' meetings totalling £2,349 (2023: NIL).
Related party transactions
The following related parties were paid for services delivered to the charity:-
Mayk-ing Space - Artistic Development Residency
-
-
4,000
-
Anna Starkey - Trustee in common
Disability Arts Council - Access Support Grant
-
-
700
-
Ruth Fabby - Trustee in common
The Paraorchestra - Showcasing Grant
-
-
20,000
-
Anna Starkey - Trustee in common
Ashley Cole - Review of employee contracts
-
-
95
-
Partner of a Trustee of We Are Unlimited Arts CIO
Kaleider - Research Group
-
-
2,400
2,400
Jocelyn Mills is a Trustee of We Are Unlimited Arts CIO and is an employee of Kaleider
The following related parties issued grants to the charity:-
Marlborough Productions - Partnership Award
-
-
4,282
-
There were no related party transactions in 2024.
Tarik Elmoutawakil is a Trustee of We Are Unlimited Arts CIO and is a Creative
Director at Marlborough
31 March 2024
Period from 1 November
2021 to 31 March 2023
Year ended

48

WE ARE UNLIMITED ARTS CIO NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

19
**20 **		 Reconciliation of net income to net cashflows from operating activities
Net income for the reporting period (as per the
Statement of Financials Activities)
Adjustments for:
Depreciation charges
Interest received
Decrease/(Increase) in debtors
Increase in creditors
Net cash flow provided by operations
Analysis of cash and cash equivalents
Cash at bank and in hand
Cash and cash equivalents amounting to £1,174,159 related to restricted funds.
Analysis of changes in net funds and analysis of net debt
Cash at bank
Total		 At 01/04/2023
£
1,189,254
£ 1,189,254		 2024
2023
£
£
75,272
669,874
4,014
3,106
(25,229)
(8,185)
184,911
(236,469)
221,248
763,935
£ 460,216
£ 1,192,261
1,670,782
1,189,254
£ 1,670,782
£ 1,189,254
Cash Flow
At 31/03/24
£
£
481,528
1,670,782
£ 481,528
£ 1,670,782

49

WE ARE UNLIMITED ARTS CIO NOTES TO THE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2024

21 Comparative Statement of Financial Activities

INCOME AND ENDOWMENTS FROM:
Donations, legacies and grants
Charitable activities
Investment income
TOTAL INCOME
EXPENDITURE ON:
Raising funds
Charitable activities
TOTAL EXPENDITURE
NET INCOME
Transfer between funds
NET MOVEMENT BETWEEN FUNDS
Total funds brought forward
TOTAL FUNDS CARRIED FORWARD
CONTINUING OPERATIONS		 Unrestricted
Funds
£
27,550
15,650
8,185
51,385
-
24,206
24,206
27,179
7,232
34,411
-
£ 34,411		 Restricted
Funds
£
2,515,156
29,983
-
2,545,139
8,670
1,893,774
1,902,444
642,695
(7,232)
635,463
-
£ 635,463		 Total Funds
19 November 2021
to 31 March 2023
£
2,542,706
45,633
8,185
2,596,524
8,670
1,917,980
1,926,650
669,874
-
669,874
-
£ 669,874

Income and net movement in funds derived wholly from continuing operations.

50