Curious Arts Charlty No. 1198708 Company No. 1070¥247 Trusl8es' Report and Unaudlted A￿Ounts 30AprH 21Y24 Curiou8 Arts Contents Pages Iq-z? Tr￿$t888. Annual Report Independent Examlnert Report ststement of Flnandal ActMtle8 Summary In¢oma and Expendlture Account Balance Sheat ststement of Cash flows Not8S to the Accounts 7t015 Detalled Statement of Flnanclal Actlvltles 16to18 Page 1 Curlous Arts Independent Examlnars Raport Independent Examlnetrs Rgport lo the trustees of Curlous Arts I report to the charlty trusle88 on my examlnatlon ol the flnaniaal statemènts of CurhJusArts lor thé year ended 30Aprfl 2024. R6spDnsibilities and ba81s of report As thg charlty's trustees ol the company (and akno Its dlre¢ton lorthe purposes of company law}you are responlble for the propardtlon of the Ilnanclal statements In accordance wllh Ihe requlrements of the Companles Act 20￿ ('the 20C6 kt. Havlng satlifled my8elf thal tha ffinanclal statements of the Charity are not requlred lo be audlted under Part 16 of the 2006 and are eliglble for Independent examlnation. I report In respect of my examlnatSon ol your Chartys financial statements as carrled out under section 145 of the Charitles Act 2011 (Yhe 2011 Act?. In Earrylng out my examlnatlon I have followed the Dlrectlons ol¥en by the Charity Commisslon under $8Ctlon 14515) Ib} of the 2011 Act. Independent examlnef3 statemqnl AS the cha￿ty,$ gross Income exceaded £250,(N)O your examiner must be a membar of a body ltsted In sectlon145 of the 2011 Act. I Confl￿ that l am quallfled to undertake Ihe examlnatlon because l am a member of FFA FTI whlch ts one of the Ilsted bodle& I havo completed my 8xaminath)n. I can conftmi that no maletkl matten have com8 to my attentlon In connectlon wlth the examlnatlon g￿Ing me cause to belleve: accounting records were nol kept in accordance wlth sectlon 386 of the 201kS Acl . or the flnanclal statemonts do nol a¢cord wlth those records. or • the flnanclal statem8nts do nol compty with th8 a¢￿untIng r8qulrements under Sectlon 396 of Ihe 2006 Act other than any requirement that the flnanclal slatements gfve a Yrue and lalf vlew whlch18 not a matter con8idered as part of an Independent examlnatlon., or the flnantlal Statements hav8 not been prepared In accordance wllh the metliods and prlnclples of the Statement ol Recommended Prdctice lor accounting and reportlng by charlties applicable to ¢harltles preparlno thelr accounts In accordance with the FinanNal R8POrtlng Standard appllcable In th8 UK and Republlc of Ireland (FRS l￿Tr. I havfr no concerns and hava come a¢rrAs no other matter3 In connectlon with the examinatlon to whl¢h attention ihould be drawn In th18 report In order to enable a proper underntandlnu of the financSal statements to be ietched. Kay w￿htMan FFA Accountlnq for Good CIC 2 Geordle Rldley Place Upper Preclnct Wesley Court Blaydon on Tyn Tyne and Wear NE215BT 03 December2024 Page 2 Curlous Arts Stat&ment of Flnanclal Activities for the year ended 30 Aprll 2024 Unr8Stri¢ted Restricted funds funds Total lund$ Total fund$ 2(r24 2024 2024 2023 Motes Income and endowments Irom: Donations and legacles Chirftabl8 actI¥l￿&S Other tradlng actlvltles Oth8r 5,784 170,343 261 5.784 369.915 261 199 341,189 5,815 117 Total 176.388 199.572 375.960 353.987 Expendlture on: Ralslng fundi Charltable a¢tl¥ltlei Other 1.439 274.413 26.994 302,846 84.128 37,669 121361 220.021 304.149 37.669 341382 10 Total 220,021 Net galns on Inv88tm6nts Net Income 11 54,IY27 (20.449) 33￿78 51,141 Transf8r8 behveen funds Net Income b8fore other galnsllloss8s1 54,027 (20,4491 33578 51.141 Othir gains and loss N8t mov8ment In lunds 54.IY27 (20.449) 33,578 51,141 Reconciliafjon of fundr. Total funds brought forward 49.330 37.331 86.661 35.520 Total funds carrled forward 103.357 16.882 120,239 86.661 Page 3 Curfou$ Arts Summary Income and Expendlture Account for the yèar ended 30 April 2024 2024 2023 Income 353.987 Gross Income lor the yea Exp8ndltur8 375.960 341,582 353,987 3￿071 DepreCIa￿ort and Charges tor Impaliment of fixed assets 800 775 Total expendlture for the yèar Net Incomo b8lore tax for tha year 342.382 33.578 301846 51.141 Net Income for thg year 33.578 51.141 Page 4 Curious Arts Balance Sheet at 30 Aprll 2024 Company No. 10709247 Notes 2024 2023 Fixgd &vets Tanglble assets 13 2.933 2.933 3.733 3,733 Current &vets Debtorn Caih at bank and In hand 14 23.393 123.108 146.501 (29.195) 117.306 120.239 120,239 24,517 76.819 101.336 (18,4081 82,928 86,661 86,661 Ciaditors: Amount lalllng due wlthln one year Net Current assets Total assets less current Ilabilities Net a588ts e￿lUdIng penslon a&8et or liability Total net &8sets 15 120.239 86,661 The funds ofthe Gharity R8Strlcted funds Restricted Incomo funds 16 16.B82 16.882 37,331 37,331 UnrgstrKted fund$ General fund3 Deslgnated funds 16 73.357 30.000 103.357 49,330 49,330 RasgNe8 16 Total lund$ 120.239 86,661 These accounts have been prepared In accordanc8 wlth tho ipeclal provtslons of Part15 01 th8 Companles t 2006 relaung io small companles. For the year ended 30 Aprfl 2024 the comparry was antitled to exemptlon under s8Ctlon 477 of the Companles Act 2006 relatlng to small companle& The memb8fd have not required the company to obtain an audll In accordance wtth sectlon 476 of th Compan16s Act 2006. Thè dir8Ctorn acknowledge thelr responslbllltles IOT comptylng with the requlr6ments ol Ihe Comptnle8 Act 20Cfj wlth r8spe¢t to accountlno records and the prepaiallon ol a¢￿untI Approved by the board on rk3 December 2(Y24 And 8lgn6d on Its behalf by: VJ. Bartesch Trustee 03 December 2024 Il/oi/l VE (11 TK/ EBITESCFI 2.01.2 SIF1￿ Ef2OAOH L)esr Page 5 Curious Arts ststement of Cajh fk)ws IDrth8 year ended 30 April 2024 2tr24 2023 Cash Ilows from operating a¢ti¥ltles Not incorne per Statement of Financial Actlvltl88 33.578 51.141 Adlustmonts lor. D8pr8¢lalion ol property. plant and equtpment Decreasalllncreasel In trado and other receivables Inr%ea￿ In trade and other payables 800 1.124 9.574 T15 (24.51n 16,462 Net cash provlded by operating activities 45.076 43.744 Net ¢a5h usod in investlng actlvltles 13.883) Net cash from IlnanGItEg actlvlties Net in¢rgase in ¢ash and cash equivalents 45.076 39,861 Cash and cash equlvaients at the beginning of the year 76.819 36.208 Cash and cash equivalents at the end of the year 121.895 76.069 Componentsof cash and cash equivalents Cash and bank balances 123.108 76,819 123.108 76.819 Pago 6 Curlous Arts Notes to the Aicounts for the y8ar fjndgd 30 April 2024 1 Accountlng poli¢iei 8asi8 of prepaiatlon The flnanclal statemènts have been piepar6d In accordance wlth Attountlng and Reportlng ty Charftlgs: Statement of Recommended Practlce applicable to ¢harltles preparfng their accounts In accordance wlth tha Flnanclal Reportinq Standard appllcable In the UK and Republc of Ireland (FRS102)18ff8ctfve1 January 20151- (Charitie8 SORP IFRS102)}. Ihe Flnanclal Reportlng Standard appli¢abl6 In tha UK and Rgpubll¢ of Iroland (FRs1￿2> and the Companles Act 2006. Change In basls ol ac¢ounllng or to prgvious accounts There has been no chan08 to the accounting policies Ivaluatlon njles and method of accountlng) slnc8 la￿ year and no changes have been made to accounts lor pre¥lous year& Fund a¢countlng Unrestrlcted funds These are avallabh lor use at the dlxretlon of the trustees In furtherance of the general obie¢ts ol the ¢harity. Deslgnated funds These are unrestricted lunds earnarked ty the trustees lor partlcular purposes. Revaluatlon funds These are unrestrlcted funds which include a revaluallon reseNe representlng the restatement of invtJtment assets at their market valu8& These are avallable lor use subject to restrKtions Imposed ty the donor or through term8 of an appeal. R8strfetad funds Income Recognltlon of Income Income Is Included In the Statement of Flnanclal Acthitles (SOFA) when the charlty becomes entitled to, and ￿rt￿alty certaln to recefve. the Income and the amount of the Income can be measured wlth sutMent rellablllty. Income wlth related Wher8 Income has rèlated ewendlture th8 Income and related expendStuig11 &xpendlture reported gross in the SOF Donatlons and leoaoies Voluntary Income Tecefved ty way of grants. donatlons and ulfts Is Included in the the SOFA when recelvable and onty when the Chatlty has uncondltlonal 8ntitl8m8nt to th8 Income. Tax r8clalm8 on Income from tsx redaims Is Included In the SOFA at tha same tlme as the donatlon8 and glfts gSftldonallon to whlch It relates. Donated seNIc88 These are onty Included In Income Iwlth an equfvalent amount In expendtturel and facilities where the benefit to the Charlty Is reasonably quantifiabl&, measurable and mateiiaL Volunteer help The value ol ary volunteer h&lp recelvod Is not Included In the accoun Investment Income Thls b Included In the accounts when recelvable. Galnsl(10&8e8} on Thls Includes any galn or loss r￿ultIng Irom revalulng Investments to market value revaluatiun oi f￿ad al the end of Ihe year. assets Galnsl(10&8es} on Inve8tm8nt assets Thls Indudes any galn or loss on the sale ol Invertment Pago 7 Curtous Arts Notes to the AcGount$ Expendltur8 Recognltlon ol &XP8ndlture Expendlture Is re¢ognis8d on an accruals basts. Expenditure Includes any VAT whlch iannot be fully recovered. and is reported as part of the expenditure to which It relates. Expendlture on These compTise the colts aS￿lated wilh attractlng voluntsry Income. fundralslng ralslng funds tradlng costs and In¥￿trnent management costs. Expenditure on These comprts8 th8 costs Incurred by the Charfty In the dellvery of Its actfvitles and ¢harftable actfvltle8 servlces In the furth8rant& ot its objects. includlng the making of grants and gov&manc8 ¢03ts. All grant expendlture b accounted for on an actual pald basls plus an accrual for grants that have been approved ty Ihe trustees at Ihe end of the yeAr but not yet pald. Gov8rnance These Indude those costs ass(thted wllh meetlng the constttutional and statutory requliements of the Charity. Includlng any auditllndependent extmlnatlon fees. tosts Ilnked to the strategk management of the Charlty. together wlth a share of other admInIst￿tIon cos1& Other oxpendlture These are support Costs not aThocatsd to a parttcular a¢1￿1 lty. Grants payable Taxation The charSty Ts exempt ITOM corporatton tax on Its charltable activities. Tanolble fixed as5et5 and depreciation D6predatlon Is prO￿ded at Ihe fouowlng annual rates In order to wrfle off eicli 888et over Its estlmated US8ful1tt8'. Plant & Machlnery 3% Reducing Balance IT & Offk6 Equlpment 3% Straight Line Freehold investment property Investment properties are m8asur8d Inltlalty at c(At and subsfrquentty at falr Value at each balance sheet date and are not depreclated. All oalns or lovA are taken to the Statement of Flnanclal ACtI￿tIeS as they Stocks St￿k k Included at the lower of cost 01 net realtsable vaiue. Donated Items ol stock are r8cogntsed at talr vaiue whlch li the amount the charlty woukl have been wllling to paylorthe Items on the open matkeL Trade and other debtor8 Trade and other debtors are recognlsed at the settlement amount due alter any trade dlscount offered. Prfjpaymants ara Valued al the amount piepald net ol any trade dlscounts due. Cash and cash equivalents Ca8h and cash equlval8nts comprlse cash at bank and on hand. demand dgpo81ts with banks and other short-term hlghty Ilquld Investments wHh Drlglnal maturfties ol three month5 or18ss and bank overdraftl. In the statement ot financial posltlon. bank overdrafts are shown wlthin borrowlngs or current Ilabilitles. In the Statement of Cash Flows. cash and cash gquPrfalents are shown ngt of bank ovgrdrafts that are repayabl8 on demand and form an Integral part of tha comparfs cash management. Page 8 Curlous Arts Notes to the Accounts Trade and other creditors Short temi credlton are measured at the transacllon prlce. Othèr VedIto￿ and provlslons are recognknd where the charlty hu a present obllgatlon resultlnu from a past event that wlll probabty result In the transfer ot funds to a thlrd party and the amounl due to settle the obllgatlon can be measured or estlmated rellabty. Credltors and provisions are nomialty recollni5ed at thelr settlement amount after allowlng for any trade dlscounls due. Ro$8arch and development Expendlture on research and development15 wrltt8n off in the year In which It is incurred. Forelgn currencies Monetary assets and Ilabllities denomlnated In currencles other than the functlonal curr8ncy ol the charity are translated at the rates of 6xchang8 prevaillng at the end of the reporting period. Transactloni In currenclos other than the functlonal currenry ot the charlty are recorded at the rate of exchange on the date that the transaction occurred. AV exchange dlfferences are ar8 taken Into account In aiiiving at net In¢omelexpendlture. Leaied assets Wh8re the charlty enters Into a le88e whl¢h entalls tsklng substanllally all the rllks and rewards of ownèrghlp of an as88t. the lease ts treated as a flnance lease. Lea39s whlch do not tran8feisubstanlialty all the rtsks and rewards ol ownership to charfty are ¢lasslfl8d as operating leasei. Assets held under finance leases are Inltlalty recognlsed as amets ol tho charlty al thelr falr value at the Incaptlon ot tholgase or. If lower. at the present value of the mlnlmum lease paymont& The correspondinq liabillty to the lessor Is Included In the balance sheet date as a flnance lease oblloatlon. Lease payments are apportloned between finance expen5e5 and ieductlon of the lease obllgallon so as to achleve a constant rate of Inleresl on Ihe remaining balance ot the liability. Finance expenses are recognL8ed Immediatety. unless they are direclty attributable to qualifylng assets. In whlch case thgy ar cap1ts115ed In accordance with the Charfty￿ pollcy on borrowlng costs. A#ets hekl under flnarKe18asK are depreclatgd In the ￿me way as owned assets. Operatlng lease payments are recogntsed as an expe￿6 on a strahJht41n8 basls over the lease term. In the 8vent that leas& Incenlfves are recelved to enter Into operatlng1oase5. such Incentlves are recognlsed as a Ilablllty. The aggregate benefft ol Incenllves Is recognised as a reductlDn of renlal expènse on a straight-llne bas1& Pension costs Tha charfty operates a defined contrlbutlon plan toi Its employees. A deflned conlributlon plan ts a pe￿Ion plan under whlch the company pay5 ILx8d conttlbutions into a separatè entity. Once the contrlbutlons have been patd the company has no lurther payments obligations. The contributions 414 recrMJnlsed as expenses when they fall due. Amounts nol pakl are shown In accruab In the balance sheet. The asslts of the plan are hfj￿ ￿paratety from th6 company In Indapendentty admlnistered lunds. Ra¢8ipl of donatod goods, tacilities and seNE¢es All donaigd good$, fa¢llltl83 and ￿[¥*9$ r9r8￿d are recoonlsed within incomlng r8sourc8s and expendlture at an estlmats ol the value lo the charity. Pagg 9 CuriousArts Notes lo the Accounts 2 Company status The companyls a prlwdte company limlted ty guarantee and ￿nsequent￿ does not have share capltai. 3 St2t•ment of Flnanclal Aclivilies- prioryear Unrestrlcted funds 2023 Restri￿ed funds Total funds 2023 Income and 8ndowfflentstrom: Donatlon5 and legacles Chlldtablè actmtles other trading activltles Other 6.866 341,1 B9 5,815 117 185.315 5.815 117 155,874 Total 198.113 155.874 353.987 Expenditur8 on: Ralslng funds Charltabla a¢ttvStlei 1.439 141.942 1,439 274,413 26.994 132,471 Other Totai 170J75 131471 302,846 hlat Income 27.llB 23.403 51.141 Net Incom8 before other gain$lllo8sesl Other gain$ and loises: Net movement In lunds 27.738 23.403 51.141 27.738 23.403 51.141 Re¢onolllatlon ol lund$: Total lunds brought forward Total fund$ ¢arriod forward 21.6Y2 49.330 13.928 37.331 35,520 86,861 4 Income from donatlon8 and lega¢i88 Unrestricted Total 2tr24 Total 2023 Donatlons. Gllt Ak1. Fundrdiiing 5,784 5,784 6.8e6 5.784 5.784 6.866 Page10 Curfou5Arts Notes lo tho Account8 5 Incomo from charltable activities Unrestrf¢ted Restrlcted Total 2024 Total 2023 Grant Income other Publlc Funds Earned Income 39,075 11.505 119,763 170.343 199,572 238,647 11,505 119,763 369,915 155.874 21,976 163,339 341.189 199,572 6 Ineomè from othar trading a¢tivitieg Unrestrlcted Total 21]24 Total 2023 Fundralslng Events 261 261 261 261 5.815 5.815 7 Other Inoome Total 2024 Total 2023 othar Income 117 117 8 Expendlture on raLsing funds Unrestricted Total 2024 Totsl 23 Fundralslng tradlng costs Fundratslna Events Merchandlslnglshop Costs 1,357 82 1,439 564 564 564 9 Expendltur8 on iharltable activiti8S Unrestricted Restricted Total 2024 Total 2023 8ndlturn oft ¢harltabJe athit188 CorpTeam Costs Markatlng Costs Prolect Costs GovefflanGe ¢osts Board Me8tlng8 41.254 87,090 128.344 4.775 171.002 142.143 11,730 120.479 38.071 131931 28 84.128 61 220.021 304.149 274,413 Pao611 Curious Arts Notes to th8 AGGounts 10 Other expendituro Unre$tri¢ted Total 2024 Total 2023 Employee costs Motor and travel costs Preml$8S Costs Amorttsatlon. depreclatlon, Impalrment, profitlloss on dlspo&II ot flxed assets General admlnlstratfve costs Lell￿ and prolesslonal costs 9,029 15.992 3560 9,029 15.992 3560 3.426 16.941 800 800 800 3A03 4.985 37.669 3,303 4,985 37,669 1340 1712 26.994 11 Net incomg beforg tran8fgrs 2024 2023 Thts F3 stated after rharolng: Depreclatlofj of owned ft Other Galns 54,027 120,449) 33.578 51.141 N8t movement In funds 120.449) 33.578 51.141 Page 17 Curious Arts Detailed Statem8nt of FIna￿la1 Actlvltles Re¢onclllatlon ot funds: Total lunds brought forward 49.330 37,331 86,661 35,520 Total funds oarri8d fotwatd 103,357 16,882 120,239 86,661 Page18 SIR￿ ERoA4JHues 13.01.2 vcoir4 EHQT&SC II/Di/I¥ CURIOU." Curious Arts Trustee Report For the ￿rended 30 Apnl 2024 1. Objectives and activities UriQU5 Arts. Gharitable objects are the promotion of equality and diversity for the public benefrt through the staging of an annual LGBTQIA arts and culture festival and the provision of a programme of year round local and national arts activities designed to: a) eliminate dlscrimination and inequality on the grounds of gender identity* gender expression and sexual orientation; b) advance education and raise avmreness of Issues relating to sexual orientation or gender identity and discrimination and thè needs of LGBTQIA pèople and the issues affecting their communitiès. and c) cultivate a sentiment in favour of equallty and diversty in rglation to persons who identify as LGBTQIA. For the purposes of this clause 'LGBTQIA' Is defined as lesbian, gay. bisexual, transgender, queer, intersex and asexual. The compan￿5 principal activity is the explorntion and celebration of LGBTQIA+ culturn through the arts, increasing visibility. dialogue and understanding of the LGBTQIA+ community of the North East. The organisation strives to improve the quallty of life of LGBTQIA+ communities and their friends and families by promoting visibility and opportunities for audienGes and artists. Curious Arts Is proud to be charnpioning a¢tivity with and for children* young people and families. queer artlsts of colourand female4ed activity. 2. Achievements and Perfomiance Through the continued efforts of thè Curious Arts team and Board of Trustees our offer to LGBTQIA+ communities and allies across the North East and beyond continues to grow and flourish. Infomied by the communitiès serie, we Continue to adapt to ensure our projects and events are relevant and reprnsentative. A significant shift during this year was the decision to register our address in Hartlepool and to spread th• base of our operations aeross the region, now with offices in Newcastle and a base in Hartjepool. This wa5 also informed and in response to growing activity in Tees Valley including developing StOGkton Pride and reviving support for a programme of Prides in the Tees Valley from Tee5 Valley Combin•d Authority. 2023 saw our fiagship event Curious Festival. take a hiatus to rest, reflect and strdtegically plan whilst developing other areas of programm8. We have continued to develop and produce our farnily4ocused •v8n( Mini Pride throughout 2023 -2024. . Delivwing a high quality well received activity in cultural and Gornrnunity spaces across the North East and beyond. Building new relationships and meeting communities where they are, from Batley Pride, Trafford, Novurn Festival. Kirftleatham and Sunderland Pride. t)ue to a number of our ovents being outdoors the weather became a considerable challenge to Mitigate around to enable programme delivery was safe and went ahead 5UGcessfully. We have noticed an increase in negativity towards our family and youth work this is being seen across the country as anti LGBTQIA+ Sentiment and views towards LGBTQIA+ communities continues to polarise with rising hate crirnes. Our original outdoor perfomiance Wildfiow, also continued to meet audiences and communities enchant audiences across the country Increasing visibility of the issues affecting our communties and increasing the profile of our work. Highlights include perforniing at Canary Vtharf and evolving to a Eurovision trike Organisational development achievements and growth included recruiting and appointing a new chair, developing reserves and shifting key. core roles to a payroll structure. whilst Ihis increased the oryanisation's liabilities it build5 resilience and ensures financial and tax compliance as our operdting model evolves. We have developed sector leadership through Gontributing to and leading on Cuftural partnerships including Hartlepool, Redcar and Middlesbrough and holding Youth sector networklng events to further collaboration and best practise. We have contlnued to position ourselves as a key providor of LGBTQIA+ youth arts services in the region, sustaining delivery of regular youth groups in Middlesbrough and Newcastle and testing activity in Sunderland and South Shields, alongside forest school Wild & Curious, working with B1￿head$ Wild in Gateshead. This year we received multi year funding investment from UK Youth and Children in Need.. Our Youth Activity has broadened its reach including rural areas such as Hexham and Barnard Castle and secured support from Lurno Trdins as a spon50r. Responding to increased intorest from the museums, heritage and histori¢ propertles sector have piloted activity in f+Jational Trust properties and developed activities wlth Ushaw Historic House and Gardens. Funding from Historic England enabled an intergenerational Heritage project - When you Were Me.. A programme of community •ngagemert creative writing. illustrations. walks talks and community self arGhiving **We are grateful to all of our funders, who have helped us to deliver during the year, in particular we would like to thank the Joicey Trust for their support.** Curious Arts continues to be ambitious regarding the scale and quality of our activity whilst recognisbng the wider impact of our consistent growth on capacty and team well-being. We plan to sustain and develop our existing activity and by: • Continuing to dov•lop tourdble works to reach a broad range of public audiences • Deliver community eo-produced local pride events across Tees Valley promoting acceptance and communty cohesion and upskilling and empoworing local volunteer committee& Stsbilising income generation by investing in regular fundraising capacity and continuing to diversify our sources of income. Developing longer temi partnership projects to ensure longer and deeper impact of our work. Regularly appraise our fundraising plan to ensurn it aligns with our values and ethics alongside striving for largor longer temi funding to ensure more robust programmes of activbty and reduce fundraising admin. . Developing original outdoor street perfom)an¢e Groove & Glow to reach night time outdoor aU￿mn I wlnterfesti￿l e￿It audience. Building balance and depth into ourwork with foeus on priority areas Including, Hartlepool. wider Tees Valley and Tyneside. • Continue to champion diversifiGation of decision making and curating artistic pn)gramme5 that inforn)8d by the communities they exist to engage. Develop our online presence through a new website and improve audiènce engagement and communication through a CRM System. Contlnue to develop our youth, community and heritsge activity with partners. Building on the success of ourexisting training partnership with Northom Pride to reach new audiences s e.g. leisure arKI hospitalty and corporate sect¢xs Explore commissionTng of new work4 artist development programmes and reation of creative assets such as accommodation and installations and new produ¢ts and projects. Diversifying and refreshing our Board of Trustees through opftn recruitment processwJ to ensure representation of our intersoctional society and a range of 21 relevant skill sets allgned with our work The Trustees have revlewed the charitys needs for reserves in line with the guidance issued by the Charlty Commission. The Trustees aim to firstly hold a level of unrestricted Resèrves which enables the charity to hav• sufficient financial resources to meet various liabilities which would crystallise if Curious Arts's funding were to be withdrawn andlor it V￿re unable to continuo operating. At Pr￿￿nI. the Trustees estimate that the Unrestricted Reserves required for such purposes amount to approximately £60,000. If possible. the Trustees then aspirè to retain an additional allowance of £10,000 to enable the charity to respond fiexibly to issues or appropriate initiatives which might be identified outside of its annual budgoting process. Thè required level ¢rf Reserves is therefore £70,000. Curious Arts currently holds total Unrestricted Reserves of £71,357 at 30 April 2024. The Trustees will monitor turnover and costs and set objectives to ensure reserves are appropriate. This policy will be reviewed by the Trustees on an annual basis as part of the charitys budgeting processes. The Trustee5 regularly review specific liabilities at each Board meeting. The Resenles Policy is re-visited by thè Board annually in the light of progress against budget and is updated at the time of drafting the annual accounts. The Trustees have acknowledged the growth of the organisation and thè challenging fundraising Climate. with this in mind they havo identified the need to invest funds strategically through designating funds. £32,000 will be designated for three specifjc organisational development activities including: A now website and CRM system to ensure the organisation has modem and effective marketing and communication tools which are visible and authentic to the charities worf(. - The development of new products and services to ènsure the eharity is at the forefront of its fRld in terrns of effective activity progrnmmes to rnake the impact needed to furthèr its charitable alms. - The development of new intellectual property and Capital based strategic projeets, ensuring robust research and planning. 5. strU￿re. governance and managément ointment of Trustees The charity currently has a board of 9 rK)Trexecuknve Trusiees. The Board meets a minimum of four times per year a)d has taken advantage of the provisions of the Companies A￿ enabling the waiver of the need to conduct an Annual General Meeting. Detailed vKitten Board reports arKI an agèrvja are prepared by the Chief EXe￿tiVe OfFicer and circulated in advan￿ of meetings. Potential Trustees are idenlified through dISc￿$s1OnS and recommendati￿$ offered by existing Truste&s and outside advisors to the organisation. as well as through the fomial advert6sem8nt of vacanaes through arts and tharitable nelworks. Trustee applicants Gomplete an application prO￿sS and undergo an interview with a trustee cruitment panel, including the Chair and the Chief Executive, before being recommended to the full Board. Trustees are appointed On￿ the Board has authorised the se18Ction, and on completion of the necessary registration paperI￿rk. New Trustees are offered induction, guidance and required to attend Trustee and Staff m day activiknes to ensure familiarisation wth the tharity. its work. fInan￿S and th&r legal duties as a Trustee. New Trustees are inducted by the Chair of the Board, other Trustees and the staff team. They are provided )Mth a range of resources to support their understanding of Cumus Arts. athvities. From time to time, the Trustees dect a Chair and detemine vthat period the Chair is to hold office. The trustees administef the tharity and the Chief Exetsjtive is responsible for managing the work of the charity on a day-l¢)-day baws. The Chief ExeoJtiv8 is supported by the Creative PrOdu￿r as part of the leadership team function. Th8 Chief Executive also is supported by an administration and aC￿sS v￿rker. The trustees are aware that the major risk to the organisation is lack of funding. Esth quarter the risk is assessed when buO3ets are compared to actual spend aThJ reserve5 are reviewed on a yearly basis to ensure that there are sufficient funds available to cover five months running costs and any possible redundancy Costs. The finance subwcommittee has conducted its own rewew of Ihe major risks to ￿lch the charity is exposed arKI systems have been estatlished to mitigate those risks. Intemal risks are minirnised by the implementation of procedures for authorisalion of all transactions and projeds and for ensuring the consistent quality of the delivery of all operational aspects of the charitable company. These procedures are periodically revi**td to ensure Ihat they still me8t the needs of the charity. As part of its annual business planning process, the Tfuslees of the charity regulady review the major govemance, operational and financial risks the tharity faces and confimi that systems have bèen established to mil￿ale these risks. Curious Arts has 8 risk management strdtegy in place Vth￿h comprises: an annual review of the strategic risks the tharity may via the business plan, • th8 establishment of systems and prccedures to mitigate those risks identified. • th8 implementstion of prowlures designed to minimise any potential impact on the charity should those risks materialise. The Trustees have managed the potential impact of these risks by.. Introducing contingency planning to cater for ongang sooal distanc4ng measures. • Setting prLKJent budgets with ￿ntingen￿e3 ft>r the next finanoal year. • Maintaining a Iow-COSt base Reviewing its mechanisms for attrading charTiable funding from trusts and foundations. Providng regular management accounts, showng perfomance against budget. Contingency Pknning for the actions to take if income appears unlikely to reach its targeL AdoptirvJ a Reserves policy which Pfowdes an appropriat& amount of uncommitted ReseNes, at a level that will alvrdys 8nable the d￿rity to meet au its liabilities, even if income targets are not achieved. Creating w)rk plans that spec4fy how b￿arf{ can be rtrscheduled or allocated to freelan￿ staff. Continuing the development of the o)wpany's safeguarding policy and pro￿dUreS through consultations with other youth providers. drawng on expertise within th8 board and the continued training of siaff. Monitoring Trustees, commitment to the organisation and scheduling Trustee re¢XUitment as appropriate. 6. Refe￿nce and administrative details D Tuflnell P.C.L Wcfflg Organi8ation Name CurI￿S Arts S Broothurst Company No. 10709247 J.D Smtth Registered Charity No. 1198708 WEoir/ EA RTEÉC41 J McAndrew Regtstered Office CIO Haruepool Toym Hall Theatre Director8 & Trustees V.J. Bartesch Raby Road H Imtiaz Hartlepool G.E. Lon￿taff TS24 8AH C Ta￿Or S IAfvJ 6Q0A(511￿Sr Is.01.E 25 2023 Resigned 6 June 2024 Chair Appointed 4 Sept 2023 Appointed 4 Sept Accountsnts A¢counkng for Good CIC 2 Georile Ridley Hace Upper Pre¢tnct Wesley Court Blaydon NE215BT 2023 Resigned 6 June 2024 Chair Appointed 4 Sept 2023 ￿pOInted 4 Sept Accountants Accounting for Good CIC 2 Geordie Ridley Aace Upper Pre￿nCl Wesley C￿rt Biaydon NE215BT