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2025-03-31-accounts

REGISTERED CHARITY NUMBER: 1197715

REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS OF GREEN SHOES ARTS C.I.O

FOR YEAR ENDING 31 MARCH 2025

Green Shoes Arts C.I.O Chadwell Heath Community Centre

255 High Road RM6 6AS

GREEN SHOES ARTS C.I.O REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present their report with the financial statements of the charitable organisation for the period ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice: Accounting and reporting by Charities, applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) issued in October 2019 by the Charity Commission.

REFERENCE AND ADMINISTRATIVE DETAILS

Registered Charity Name

Green Shoes Arts C.I.O

Registered Charity number

1197715

Registered office

Chadwell Heath Community Centre 255 High Road Dagenham RM6 6AS Trustees

Ruqaiya Asim Mark Hill (Treasurer) Rebecca Laughton Daniel Martin (Chair) Adam Njenga Councillor Ingrid Robinson Joseph Robert Kobina Siripi Quartson

Staff

Kirsty Cherrett Creative Programmes Manager Sam Miller Artistic Director Lotte Sartain Creative 4 Life Project Manager

Independent Examiner

Holy Brook Associates Ltd Curious Lounge, 20 Tudor Road Reading RG1 1NH

Bankers

Co-operative Bank PLC Business Direct, P.O. Box 250 Skelmersdale WN8 6WT

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GREEN SHOES ARTS C.I.O REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Objectives and Activities

The objects of Green Shoes Arts (GSA) as set out in its governing document are:

(1) To advance, improve, develop and maintain public education in, and appreciation of, the arts in all its aspects by any means the Trustees see fit, including through workshops and the provision of a youth theatre.

(2) To promote social inclusion for the public benefit by preventing people from becoming socially excluded, relieving the needs of those people who are socially excluded and assisting them to integrate into society through the use of art therapy and art-based projects.

For the purpose of this clause 'socially excluded' means being excluded from society, or parts of society, as a result of one or more of the following factors: unemployment; financial hardship; youth or old age; ill health (physical or mental); substance abuse or dependency including alcohol and drugs; discrimination on the grounds of sex, race, disability, ethnic origin, religion, belief, creed, sexual orientation or gender reassignment; poor educational or skills attainment; relationship and family breakdown; poor housing (that is housing that does not meet basic habitable standards); crime (either as a victim of crime or as an offender rehabilitating into society).

Guidance on Public Benefit and Decision Making

We regularly review our aims, objectives and activities. This review looks at the success of each key activity and the benefits they have brought to those groups of people we are set up to help. The review also helps us ensure our aim, objectives and activities remain focused on our stated purposes. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the Trustees consider how planned activities will contribute to the aims and objectives they have set.

GSA’s governing document lays out the parameters for who the organisation will work to benefit, and the work it delivers to do this. This information forms the basis for strategy documents, outlined by senior management and approved by the board. This document is referred to before project proposals are suggested.

In determining whether GSA should carry out a project or work with a group of people, the staff discuss each opportunity in consultation with existing participants. These findings are then presented to the Board of Trustees during quarterly meetings.

These decisions are framed through a series of questions and criteria, all in regard to the public benefit and the ability of GSA to continue to operate effectively:

3

GREEN SHOES ARTS C.I.O REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Achievements and Performance

The 2024/25 year saw Green Shoes Arts continue to enhance our core activities; work with new funders to deliver numerous additional projects; collaborate with multiple organisations and charities; employ facilitators from across the borough of Barking and Dagenham (and beyond); develop our strategic goals; and — most importantly — engage with thousands of participants.

Our charitable objectives were met across our activities, including:

To achieve these projects, we worked with multiple funders, including:

4

GREEN SHOES ARTS C.I.O REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Core funding, as always, remained a challenge; most funding was restricted to specific activity. However, the charity made strides in diversifying its income stream through corporate sponsorship, such as securing £5k in core funding from Fidelity International. Unfortunately, despite the best efforts of staff and Trustees, the overall success of this approach was less than had been hoped.

The Trustees also continued to develop Green Shoes Arts strategically by:

Throughout the year, the Trustees and staff continued to develop relationships with multiple organisations and charities with a view to increasing our scope, helping to achieve our strategic goals, improving our practice, and improving the practice of others. Collaborations included:

Despite these fruitful collaborations, the charity running numerous funded activities, and sound strategic goals, it became clear to the Trustees towards the year-end that the long-term future of Green Shoes Arts was under threat. This was due to the increased challenge of securing core funding and Arts Council England’s decision to delay National Portfolio Organisation allocation until 2028 — a significant blow to our goals. Given this, a ‘Survival Strategy’ was outlined in April 2025 and agreed upon by Trustees and staff. This included a greater push for public and corporate funding, focussing our efforts on core activities, submitting emergency grant applications to Arts Council England, diversifying funding streams to include earned income (such as NHS contract work), and collaborating with the local authority to source additional opportunities. The survival strategy included the following timeline:

5

GREEN SHOES ARTS C.I.O REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

April 2025: Submit emergency grant applications; explore donor campaign April–May 2025: Engage LA (Local Authority) and VCSE (Voluntary, Community and Social Enterprise); develop earned income pilots

May–June2025: Refine and market offers June–July 2025: Assess survival; prepare for closure if needed Aug–Dec 2025: Focus on income generation or managed closure

Whilst we were successful in some of these strategies, such as earned income and collaborating with the local authority (including support from MP for Dagenham and Rainham, Margaret Mullane), it was evident in the late summer of 2025 that Green Shoes Arts was still facing significant challenges and was not going to be assisted by Arts Council England — despite Barking and Dagenham being named as one of their ‘Priority Places’.

Consequently, the Trustees reviewed the financial position of the charity and its future funding prospects. Based on this review, the Trustees concluded that the charity was no longer a going concern. The Trustees therefore intend to manage an orderly wind down of the charity’s activities, settle outstanding liabilities as they fall due, and distribute any remaining assets in accordance with the charity’s governing document. These financial statements have been prepared on a basis other than going concern, as set out in the accounting policies.

Structure, Governance and Management

Remuneration

The company operates a remuneration policy whereby salaries for all directly employed staff are benchmarked against salary levels in the sector on an annual basis and any increases are calculated to account for the financial performance of the organisation.

The average employee headcount during the financial year was five and the average number of employees (full-time equivalent) was three. No employees earned in excess of £60,000 and the total remuneration paid to the key management personnel during the year was £81,371 (2024: £78,213). During the period the Trustees received no remuneration.

The organisation was originally established as a Community Interest Company, incorporated on 5 January 2009. In order to more closely reflect the nature of the organisation’s work, it was registered as a Charitable Incorporated Organisation on 31 January 2022. The charity was established under a Memorandum of Association which established the objects and powers of the CIO and is governed under its Articles of Association. If the CIO is 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.

Trustee selection methods

Trustees are recruited in regard to their position in the local community, their specific skill set, and/or their direct knowledge and experience of the CIO’s work. Two Trustees are current participants. Trustees are required to supply a list of their skills and experience and are assigned to sub-committees in order to focus on specific areas of concern, for e.g. Finance, Safeguarding, or Health & Safety. We have introduced threeyear terms for Trustees, with voting in place both for new Trustees’ appointment and to make decisions on continuation of those Trustees who wish to continue after their term.

6

GREEN SHOES ARTS C.I.O REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Organisational structure and management

The Trustees delegate the day-to-day management of the company to the key management personnel, currently the Artistic Director and Creative Programmes Manager. The Trustees are responsible for ensuring that management staff’s decisions are in accordance with the company's objects and legal framework. Longterm organisational strategy is the joint responsibility of the Trustees and the management staff. Trustees are responsible for ensuring that this strategy is in accordance with the company's objects, and for overseeing the effectiveness of this strategy. Trustees may be appointed at any time. New Trustees are provided with an induction pack outlining their roles and responsibilities as Trustees of the charity. They are provided with and are required to read the company’s governing documents and policy documents. Trustees meet on a quarterly basis.

Related Parties

Green Shoes Arts uses CHCC to deliver workshop activities and as office space. CHCC is owned by LBBD. While LBBD have funded GSA in the past for specific projects, they hold no controlling interest in the charity. GSA pays rent to LBBD to use studio and office space at CHCC. The charity has a commercial rolling three year lease contract with CHCC, which was renewed in October 2021, and all transactions are carried out at arm’s length.

Financial Review

Principal funding sources:

Green Shoes Arts C.I.O received income of £161,063 (2024: £188,676) in the period, of which £159,493 (2024: £169,146) represented restricted funding, relating to the Children in Need £7,598, Arts Council England £26,519, London Borough of Barking & Dagenham £20,000, Jack Petchey Foundation £1,800, Comic Relief C4L Fund £47,484, Compass Wellbeing £36,445, Valence House Museum £8,731, London Youth Summer Programme £4,000, Kingsley Hall Singing £1,200 and Community Music Service £2,820. Expenditure in the year totalled £181,756 (2024: £182,947) of which £177,682 (2024: £156,850) related to restricted project funding.

Funds available:

The reserves held at 31 March 2025 are £70,855 (2024: £91,548). This includes unrestricted funds of £40,165 (2024: £33,855).

The Trustees took the hard decision to close the charity at the end of 2025 and all activity has now ceased.

Reserves policy

The Reserves Policy aims to maintain reserves at the minimum level required to manage risk, support organisational resilience and enable investment in development. This supports strategic financial management and accountability. The reserves policy is reviewed at least annually by the Board of Trustees.

The charity’s reserves will ensure that the charity has the ability to manage unforeseen events that affect its financial health and not to fall below the level that would put the charity at risk of demise, or breach of the law or its obligations. The Trustees have set a target reserve level with a minimum target of three months’ expenditure and an additional three months’ salary for the Artistic Director to be used to secure funds to continue the operation of the charity should the charity be near insolvency, or to be used should the charity be required to wind-up in a legally responsible manner. This level has been calculated at £33,000. As of 31 March 2025, unrestricted reserves were in line with the reserves policy.

7

GREEN SHOES ARTS C.I.O REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Risk management

The Board of Trustees, with the Artistic Director and the staff team, keep organisational risk under review and mitigate risk with a range of measures including: insurance, planning, performance monitoring, policies and procedures. A Corporate Risk Register for the monitoring of strategic risk is being prepared by the Board and will be reviewed annually. Programmes are mainly run with funding secured in advance to ensure that any income risk is well managed. Residual risk is assessed and informs the Reserves Policy, which includes financial and non-financial risks. To meet contractual and legal obligations and deliver operational objectives, the Board agrees the broad annual programme, plans and budget, and monitors performance during the year. The Trustees have identified the following to be the key risks to the organisation along with the mitigating actions to be undertaken:

Risk Mitigating Action
Funding of the Organisation GSA will continue to develop the programme in a way
that diversifies its income from a range of funders
including trusts & foundations, statutory funders and
earned income from consultancy. We aim for all project
funding to contain an element to cover core costs. Close
monitoring of reserves by the Board and a clear
Reserves Policy helps to build investment potential with
targets for building reserves for key purposes. The Board
have appointed a Treasurer (Trustee role) to support the
Artistic Director in managing funds including close cost
control. The Business Plan is currently being developed
and will incorporate an Income Generation Strategy for
continual securing of funds.
Loss of Key Staff GSA will aim to invest in its staff and consider succession
planning and resilience in its policies and processes
including a Business Continuity Plan. We offer an
appropriate level of salary and flexible working
arrangements. Salaries are benchmarked across the
sector and staff receive above statutory minimum annual
leave entitlements. Annual training budgets provide
continual CPD. Role design considers succession
planning and legacy. Documentation of processes and
projects enable smooth transition between staff for
successful handover/team working. Clear recruitment
processes and a recruitment policy ensures quality
replacements when required.
Safeguarding and Health & Safety The organisation has appropriate Safeguarding Policies
and highly experienced, well-trained staff. Using advice
from other local experts including the CVS, local Council
and Board members in highly skilled professions such as
law, finance, marketing, and local Council, the policy
incorporates safer recruitment processes for staff,
volunteers, trustees and contractors. Training and DBS
checking is repeated every 3 years at a minimum. All
core staff receive appropriate Safeguarding, Mental
Health First Aid, and Trauma-informed Practice training.
All activities are risk assessed and appropriate mitigating
actions are incorporated in line with the organisation’s
Health & SafetyPolicy

8

GREEN SHOES ARTS C.I.O REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Staff wellbeing & management of remote The organisation has office premises at Chadwell Heath working Community Centre and staff work from home or in remote locations in the community with limited supervision. GSA holds a Flexible Working Policy that guides staff in safe working practices which includes regular daily contact with team members to ensure their location & safety is known. The Board plans to issue an annual Staff Wellbeing Survey that enables staff to anonymously report on their wellbeing and job satisfaction. The Board and Executive discuss results in order to implement additional measures to support staff. The Board & Artistic Director continue to monitor staff performance through regular staff supervision. Staff are able to receive clinical supervision with a qualified suitable therapist, or to be reimbursed for external sessions with a therapist.

Future Plans

Due to the refocusing of GSA’s main funders, the charity found itself without funds to run its major programmes, as alternative funders could not be sourced. Therefore, the Trustees took the hard decision to close the charity at the end of 2025. All debts and liabilities were extinguished before the cessation of activities.

ON BEHALF OF THE BOARD:

Daniel Martin

Chair 27[th] April 2026

9

GREEN SHOES ARTS C.I.O REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025

Statement of Trustees Responsibilities

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

Charity law requires the Trustees to prepare financial statements for each financial year. Under charity law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable organisation and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity’s transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

10

Independent examiner's report on the accounts

Section A Independent Examiner’s Report

Report to the trustees/ Green Shoes Arts CIO members of

On accounts for the year 31[st] March 2025 ended

Charity no 1197715

Set out on pages 1-2

It is my responsibility to:

Basis of independent examiner’s statement

Independent examiner's statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a ‘true and fair’ view and the report is limited to those matters set out in the statement below.

In connection with my examination, no material matters have come to my attention which gives me cause to believe that in, any material respect,: ● the accounting records were not kept in accordance with section 130 of the Charities Act; or

I have come across no other matters in connection with the examination to

11

which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached .

----- Start of picture text -----
Date: 28 [th] April 2026
Signed:
Name: Rachel Eden
Relevant professional FCMA (Fellow of the Chartered Institute of Management Accountants)
qualification(s) or body
Address: Holy Brook Associates, Curious Lounge, 1st Floor, Pinnacle Building,
Tudor Road, Reading, England,
RG1 1NH
----- End of picture text -----

Section B Disclosure

[NONE ]

12

GREEN SHOES ARTS C.I.O

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

Note
INCOME
Donations
2
Charitable activities
3
Total income
EXPENDITURE
Charitable activities
4
Total expenditure
NET (EXPENDITURE)
/ INCOME
Transfers between
funds
NET MOVEMENT IN
FUNDS
RECONCILIATION OF
FUNDS
Funds Brought
forward
TOTAL FUNDS
CARRIED FORWARD		 31.3.25
Unrestricted
Funds
Restricted
Funds
Total
Funds
£
£
£
405
2,684
3,089
1,165
156,809
157,974
1,570
159,493
161,063
4,167
177,589
181,756
4,167
177,589
181,756
(2,597)
(18,096)
(20,693)
8,814
(8,814)
-
6,217
(26,910)
(20,693)
33,855
57,693
91,548
40,072
30,783
70,855		 31.3.24
Total Funds
£
1,762
186,914
188,676
182,947
182,947
5,729
-
5,729
88,533
91,548

There are no recognised gains or losses other than those included above. The results shown above relate to continuing activities.

The income and expenditure are measured under the historical cost convention.

The accompanying notes form part of these financial statements

13

GREEN SHOES ARTS C.I.O BALANCE SHEET

FOR THE PERIOD ENDED 31 MARCH 2025

Not
es
FIXED ASSETS
Tangible Assets
8
CURRENT ASSETS
Amounts owed within
one year
9
Cash at bank and in
hand
CURRENT
LIABILITIES
Amounts falling due
within one year
10
NET CURRENT
ASSETS
TOTAL ASSETS LESS
CURRENT
LIABILITIES
NET ASSETS
FUNDS
12
Unrestricted Funds
Restricted Funds
TOTAL FUNDS		 REGISTERED CHARITY NUMBER: 1197715
2025
2025
2025
2024
Unrestricted
Funds
Restricted
Funds
Total
Funds
Total
Funds
£
£
£
-
-
-
458
1,332
-
1,332
1,226
40,013
30,893
70,906
128,210
41,345
30,893
72,238
129,436
(1,273)
(110)
(1,383)
(38,346)
40,072
30,690
70,855
91,090
40,072
30,783
70,855
91,548
40,072
30,783
70,855
91,548
40,072
33,855
30,783
57,693
70,855
91,548

The Trustees acknowledge their responsibilities for

14

GREEN SHOES ARTS C.I.O BALANCE SHEET

FOR THE PERIOD ENDED 31 MARCH 2025

These financial statements have been prepared in accordance with the provisions of the Statement of Recommended Practice ‘Accounting and reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) issued in October 2019 by the Charity Commission;

The financial statements were approved by the Board of Trustees on 27[th] April 2026 and were signed on its behalf by:

Daniel Martin Chair

The accompanying notes form part of these financial statements

15

GREEN SHOES ARTS C.I.O NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. CHARITY INFORMATION AND ACCOUNTING POLICIES

Charity Information

The charity is a charitable incorporated organisation and is registered with the Charities Commission in England and Wales.

Registered charity number 1197715

Registered Office: Chadwell Heath Community Centre 255 High Road RM6 6AS

Basis of preparing the financial statements

The financial statements have been prepared on a basis other than that of a going concern. Following a review of the charity’s financial position and future funding prospects, the trustees consider that there is no realistic prospect that the charity will continue its activities beyond the short term. The trustees therefore intend to wind up the charity in an orderly manner.

Accordingly, the financial statements have been prepared on a break-up basis, with assets stated at the lower of their carrying amount and estimated realisable value, and with liabilities recognised to reflect any unavoidable costs arising from the wind-down of the charity.

Accounting convention

The financial statements have been prepared under the historical cost convention, and in accordance with the requirements of Charities Statement of Recommended Practice (FRS102). The presentation currency used in the accounts is pounds sterling.

Cash flow statement

The Trustees have taken advantage of the exemption in Charities SORP (FRS102) from including a cash flow statement in the financial statements on the grounds that the charitable organisation is small.

Incoming resources

All incoming resources are included in the Statement of Financial Activities when the charitable organisation is legally entitled to the income and the amount can be quantified with reasonable accuracy. Voluntary Income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable. Income is only deferred when the donor specifies that the grant or donation must only be used in future accounting periods or the donor has imposed conditions which must be met before the charity has unconditional entitlement.

Government Grants

Grants, including government grants, are accounted for under the accruals model as permitted by FRS102. Grants of a revenue nature are recognised in the Statement of Financial Activities in the same period as the related expenditure.

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. The pension costs charged against income represent the amount of contributions payable to the scheme in respect of the accounting period.

Costs charged to a restricted fund relate to the activities undertaken to further the specific charitable purposes the fund was established to support. These costs include both direct and support costs associated with the activities undertaken by the restricted funds. Support costs are allocated based on agreed allowances from funders.

Expenditure attributable to the restricted fund may still be charged to it even if there is an insufficient balance on that fund at the time. However, expenditure should only be charged to a restricted fund in deficit when there is a realistic expectation that future income will be received to cover the shortfall, for example when a decision has been made to invite donations to that restricted fund.

Operating Leases: the charitable organisation as lessee

Rentals under operating leases are charged to the Statement of Financial Activities on a straight-line basis over the lease term.

16

GREEN SHOES ARTS C.I.O NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. COMPANY INFORMATION AND ACCOUNTING POLICIES continued

Tangible fixed assets

The company’s threshold for capitalisation is £200. Expenditure below this value, on items that may be considered fixed assets, is written off to revenue account as the Trustees consider that the administration cost of capitalisation outweighs any benefit to the user of these accounts.

Computer Equipment with a value in excess of £200 are depreciated over their anticipated useful life of 3 years.

Fixtures and Fittings with a value in excess of £200 are depreciated over their anticipated useful life of 4 years.

Taxation

The charitable company is exempt from corporation tax on its charitable activities.

Defined Contribution Pension

The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of Financial Activities when they fall due. Amounts that are not paid are shown in creditors as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in an independently administered funds.

Debtors

Trade debtors, prepayments and other debtors are valued at the amount paid in respect of future accounting periods.

Cash at bank and in hand

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

Creditors

Trade creditors, accruals and other creditors are recognised when there is an obligation at the year-end as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement and the amount of settlement can be estimated reliably.

Financial Instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the Trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charitable organisation. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Provision is made in the majority of restricted funding streams for management and administration costs. These costs are borne within unrestricted funds and then an appropriate allocation is made in accordance with the funding agreement.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

17

GREEN SHOES ARTS C.I.O NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTINUED

2.
DONATIONS
Individual Donations
Co-Op Community
Scheme
The Big Give Trust
Fidelity Bank		 31.3.25
31.3.24
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
£
£
£
£
£
£
-
-
-
-
-
-
-
-
-
-
1,762
1,762
405
-
405
-
-
-
-
2,684
2,684
-
-
-
405
2,684
3,089
-
1,762
1,762

18

GREEN SHOES ARTS C.I.O NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTINUED

3. INCOME FROM CHARITABLE ACTIVITIES

London Borough of
Barking & Dagenham
Arts Council England
National Lottery
Community Fund
Jack Petchey Foundation
Serpentine Gallery
Children in Need
Comic Relief
Neighbourhood Fund
(NCIL)
Social Change
Community Chest
Big Ideas Company
Albert Hunt Foundation
Compass Wellbeing
Valence House Museum
London Youth Summer
Programme
Community Music
Service
Kingsley Hall Singing
Workshop Fees		 31.3.25
31.3.24
Unrestricted
Restricted
TotalUnrestricted
Restricte
d
Total
£
£
£
£
£
£
-
20,000
20,000
1,135
22,814
23,949
-
26,519
26,519
-
2,181
2,181
-
-
-
-
1,500
1,500
-
1,800
1,800
-
1,800
1,800
-
-
-
110
500
610
-
7,598
7,598
-
33,709
33,709
-
47,484
47,484
15,000
92,130
107,130
-
-
-
-
10,000
10,000
-
-
-
2,760
-
2,760
-
-
-
-
750
750
-
-
-
-
2,000
2,000
-
36,445
36,445
-
-
-
-
8,731
8,731
-
-
-
-
4,000
4,000
-
-
-
-
1,020
1,020
-
-
-
-
1,200
1,200
-
-
-
1,165
2,012
3,177
525
-
525
1,165
156,809
157,974
19,530
167,384
186,914

19

GREEN SHOES ARTS C.I.O NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTINUED

4. ANALYSIS OF EXPENDITURE

Charitable
activities
Salary related
costs
Consultancy Costs
Rent and rates
Insurance
Artistic
Programme
Office cost and
admin
Staff Training
Independent
examiner’s fees
Accountancy,
payroll and HR
support costs
Trustee expenses
Depreciation of
tangible fixed
assets		 31.3.25
31.3.24
Unrestricted
Restricted
Total
Unrestricted
Restricted
Total
£
£
£
£
£
£
300
113,903
114,203
11,403
103,802
115,205
1,875
1,950
3,825
-
2,770
2,770
-
6,600
6,600
3,300
3,300
6,600
128
1,544
1,672
1,543
-
1,543
974
45,613
46,587
305
42,377
42,682
432
2,079
2,511
2,010
128
2,138
-
1,152
1,152
-
1,503
1,503
-
612
612
504
-
504
-
4,136
4,136
1,618
2,970
4,588
-
-
-
191
-
191
458
-
458
5,223
-
5,223
4,167
177,589
181,756
26,097
156,850
182,947

20

GREEN SHOES ARTS C.I.O NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTINUED

5. NET INCOMING/(OUTGOING) RESOURCES

Net resources are stated after charging:

Net resources are stated after charging:
31.3.25 31.3.24
£ £
Depreciation – owned assets 458 5,223
Operating Leases - property 6,600 6,600
Independent examiner’s fees 612 504

6. TRUSTEES’ REMUNERATION AND BENEFITS

None of the Trustees received any remuneration or other benefits for the year ended 31 March 2025 (31 March 2024: nil). There were Trustee expenses totalling £nil paid during the period (2024: £191).

7. STAFF COSTS

Wages and salaries
Social security costs
Pension contributions		 31.3.25
£
107,162
3,826
3,215
114,203		 31.3.24
£
108,252
3,768
3,185
115,205

The average number of full time equivalent employees during the year was 2.29 (2024: 2.48). The average head count of employees during the year was 4.75 (2024: 4.75).

21

GREEN SHOES ARTS C.I.O NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTINUED

8. TANGIBLE FIXED ASSETS

Computer
Equipment
Fixtures &
Fittings
and
Equipment
£
£
COST
Opening Cost at 1 April 2024
14,670
4,666
At 31 March 2025
14,670
4,666
DEPRECIATION
Opening Depreciation at 1 April 2024
14,212
4,666
Charge for the year
458
-
At 31 March 2025
14,670
4,666
NET BOOK VALUE
At 31 March 2025
-
-
At 31 March 2024
458
-
EBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25
£
Trade debtors
-
Other debtors
1,332
1,332		 Computer
Equipment
Fixtures &
Fittings
and
Equipment
£
£
COST
Opening Cost at 1 April 2024
14,670
4,666
At 31 March 2025
14,670
4,666
DEPRECIATION
Opening Depreciation at 1 April 2024
14,212
4,666
Charge for the year
458
-
At 31 March 2025
14,670
4,666
NET BOOK VALUE
At 31 March 2025
-
-
At 31 March 2024
458
-
EBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.25
£
Trade debtors
-
Other debtors
1,332
1,332		 Total
£
19,336
19,336
18,878
458
19,337
-
458
31.3.24
£
-
1,226
1,226

9. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

22

GREEN SHOES ARTS C.I.O NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTINUED

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Trade Creditors
Accruals
Other Creditors
Income in Advance		 31.3.25
£
110
612
661
-
1,383		 31.3.24
£
693
504
704
36,445
3,350

11. PENSION COMMITMENTS

GSA operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the organisation in an independently administered fund. The pension cost charge represents contributions payable by the charitable organisation to the fund and amounted £3,215 (2024: £3,185). Contributions totalling £661 (2024: £704) were payable to the fund at the reporting date and are included in other creditors.

12. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Children in Need
NCIL Youth Theatre
Global Fund for
Children		 At
Conversion
1.04.2024
Incoming
Resource
Resources
Expended
Net
movement
in funds
£
£
£
£
33,855
1,570
(4,167)
(2,597)
33,855
1,570
(4,167)
(2,597)
10,511
7,598
(18,109)
(10,511)
816
112
(928)
(816)
3,835
-
-
-		 Transfer
between
funds
£
8,814
8,814
-
-
(3,835)		 At 31.3.25
£
40,072
40,072
-
-
-

23

GREEN SHOES ARTS C.I.O NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTINUED

12. MOVEMENT IN FUNDS - continued

Jack Petchey
Foundation
LBBD Arts Award
Comic Relief C4L
Fund
NCIL Diverse
Communities
Co-Op C4L Fund
Albert Hunt
Foundation
HAF
ACE Small Project
Grant
Creative Cafe
Creative Minds
Our House
Community Chest
Kingsley Hall Singing
London Youth
Summer Programme
Valence House
Museum
TOTAL FUNDS		 At
Conversion
1.04.2024
Incoming
Resource
Resources
Expended
Net
movement
in funds
£
£
£
£
1,209
1,800
(1,807)
(7)
5,424
-
(1,458)
(1,458)
29,924
47,584
(77,508)
(29,924)
3,257
-
(3,257)
(3,257)
726
-
(726)
(726)
2,000
-
(2,000)
(2,000)
(9)
2,820
(2,811)
9
-
26,519
(21,250)
5,269
-
12,684
(3,501)
9,183
-
36,445
(23,580)
12,865
-
5,000
(7,736)
(2,736)
-
5,000
-
5,000
-
1,200
(1,200)
-
-
4,000
(4,000)
-
-
8,731
(7,718)
1,013
57,693
159,493
(177,589)
(18,096)
91,548
161,063
(181,756)
(20,693)		 Transfer
between
funds
£
-
(3,966)
-
-
-
-
-
-
-
-
-
-
-
-
(1,013)
(8,814)
-		 At 31.3.25
£
1,202
-
-
-
-
-
-
5,269
9,183
12,865
(2,736)
5,000
-
-
-
30,783
70,855

All transfers between funds relate to approved unrestricted reserve contributions.

Transfers from Restricted Funds

Provision is made in the majority of restricted funding streams for management and administration costs. These costs are borne within unrestricted funds and then an appropriate transfer is made in accordance with the funding agreement on an annual basis.

24

GREEN SHOES ARTS C.I.O NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTINUED

12. MOVEMENT IN FUNDS - continued

Purpose of Significant Restricted Funds

Children in Need Fund:

This fund works with a wide variety of children and young people aged up to 18 including a number of participants with a range of additional needs, providing dance and drama activities along with opportunities for socialisation.

Comic Relief C4L Fund:

Creative 4 Life provides mixed creative arts activities for adults with mental health issues, as well as external trips, opportunities to engage with partner organisations, and outreach activities.

ACE Small Project Grant

This grant was towards staffing and activity on the charities youth programmes.

Creative Cafe

Creative Café offers drop in sessions for participants to engage in craft and arts, for their enjoyment and mental wellbeing.

Creative Minds

Creative Minds is a project working with young people with additional needs and neurodiversity

13. RELATED PARTIES

Green Shoes Arts uses CHCC to deliver workshop activities and as office space. CHCC is owned by LBBD. While LBBD have funded GSA in the past for specific projects, they hold no controlling interest in the charity. GSA pays rent to LBBD to use studio and office space at CHCC. The charity has a commercial rolling three year lease contract with CHCC, which was renewed in October 2021, and all transactions are carried out at arm’s length.

14. OPERATING LEASE

31.3.25 31.3.24
The total of future minimum lease payments under non-cancellable operating
leases are: £ £
Due within one year - 3,300
Due after one year and before five years - -

25

GREEN SHOES ARTS C.I.O NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 CONTINUED

15. PRIOR YEAR NET ASSETS FUNDS

Notes Unrestricted
Funds		 Restricted Funds 2024
Total Funds
£ £ £
FIXED ASSETS
Tangible Assets 10 458 - 458
CURRENT ASSETS
Debtors 11 1,226 - 1,226
Cash at Bank & In Hand 33,379 94,831 128,210
CREDITORS
Amounts Falling Due Within
One Year
12		 (1,208) (37,138) (38,346)
NET CURRENT ASSETS 33,397 57,693 91,090
NET ASSETS 33,855 57,693 91,548
FUNDS
Unrestricted Funds 13 33,855
Restricted Funds 13 57,693
TOTAL FUNDS 91,548

16. NON-GOING CONCERN BASIS

These financial statements have not been prepared on a going concern basis. Following the year end, the trustees determined that the charity does not have sufficient secured future income to continue its activities. The trustees expect that the charity will settle its liabilities in full and wind up its affairs in an orderly manner. The accounts therefore reflect the estimated realisable value of assets and include provision for costs directly attributable to the closure of the charity.

26