Chailty wistration numbei 7203867 LYRITA NIMBUS ARTS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 MARCH 2024 Contents Legal and administrative infom)ation Report oftheTrustees 881ance Sheet Notes foiming part ofthe fln8ncial ststements Legal and admlnlstrative infomiation Charity number 1203867 Registered address Wyastone Leys Ganarew Monmouth NP253SR Tru8te8S Antonysmfch Charlotte de Rothschild Adr18n Farmer Dr Richard BL8ckford Ph.D Lynda Farmer B8nkers N8tWest 96 Queen Street C8rdlfl CF10 2GR LNA Trustees Report 5 July 2023 to 31° March 2024 The Trustees of Lyrita Nlmbus Arts {LNA) present their annual r8POrt and accounts for the first period ended 31" March 2024. Durlng this period the charlty had domiant 8ccounts. Structure, Governance and Management The Charity is constituted 8s a Charitatsle Incorporated Oiganisation ICIOI Foundation. as a body corpor8te under Part 11 of the Ch8ritie$Act 2011 on the 5" July 2023. The CIO registered withthe Ch8rityCommission onthesameday. The trustees 8re leg811y responsible for the govern8nce and management of the charity, The trustees are responsible for setting strategies and pollcies. and for ensuring these 8re Implemented. Rlyk Management Th8 Charity's Tiustees have considered the major risks to which the charity is exposed and have revlewed all known potent181 risks. Systems and procedures have been put In place to m8n8ge the risks 8nd to mltigate 8ny 8dverse outcomes for the Charity. Oblectlves and Actlvltles The Governing scheme deflnes the charity's objectives as belng: 1. The advancement. impiovement 8nd benefit of the standards of p&rtorm8nce 8nd apprgciatlon and education ol the arts and partlcuLaTly muslc and drama in any part of tha world. 2. The establisl)iiieiiL iiidlntenance OT cenires fortne study ot, research into, performgnce. transmi58ion, recording and filming of mu8lc81 and dr8m8tlc works. 3. The establishment and m81ntenance of archwes, museums ond librarle8 foi the dlspl8y and study 01 musi¢812rtistic and dramatlc works. 4. The provision of scholarships. grants, advertising and other assistance, Includlng financial, trainlng and mentorlng. A¢hlevement8 and Performance The LNA CIO was dormant during this perlod. FlnanclAI Review No transactions took place during thls period. Future Plans Lyrit8 Nimbus Arts is expecting to receive gifts. includlng investment funds. property, master tapes. recordlng equipment, ongoing trading and liabilFties from Lyrita Recorded Edttion Trust, Registered Charity Number 299635 and The Nimbus Foundation. registered Charity Number 802708 on 1°, April 2024. At this time LNAwiLit8ke on the operation and management of these assets and liabilities whilst also commencing its own objectives ano 8Ctivities. Truste¥$' re5ponsibillties statement The trustees are responsible foi preporingthe Tnjstees. Annual Report and the financial statements in accordance with applicable law 8nd United Klngdom Accountlng Standards Iunitecl Kingdom Generally Accepted Accounting Practice}- The law applicable to charities in England & Wales require the trustees to prepare financial statements foT each financialyear which give a true and fairview of the state of affairs of the charity 8nd of the incoming resources and application of resources of the ch8rityfor that period. In preparing these finan¢i#l statementg. thetrustses a￿ required to: Select suitable accounting policies and then applythem consistently,. Observe the methods and principles In the chari￿e$ SORP; Make judgements and estlmates that are reasonable and prudent- State whether èpplicable accounting standards h8ve been followed, subject to 8ny material departures disclosed and exp18ined in the tinancial statements; Piepare the financlal statements on the going concem b88is unless tt Is In8pproprl8tè to presume that the chaiitywlll continue in operation. The trustees Ère responsible for keeping proper 8ecounting records that disclose wrth reasonable a¢curacy 8t any time the linancial po8ltion of the ch8rtty and enable them to ensure that the flnanclol statements complywith the Charities Act 2011. the Charity 9Ac¢ounts and Reports) Regulalions 2008 and the provisions of the Trust Deed. They are a180 responsible for safeguardlngthe assets of the charity and hence for taking rea80n8ble steps for ihe preventlon 8nd detection of fraud 8nd other Irregularities. Thls report was 8pprov8d bythetruste¢¥ on 28 January 2025 and signed on their behalf by: ANTONY SMrrH Trustee Lyrlts Nimbus Arts 03867 Balance Sheet as at31 Mai¢h 2024 IDomiantAccountsl 3110312024 Flxed assets TanÉible assets Totalflxed assets urrent assets Stock and work In progress Debtors Cash at bank and In hand Uabllltles Credltois: amounts falLlng due wtthln one year Nel current assets Crelltors.. amounts lalllng due afteroneyear Provlslon for Ilabllltles Net assets Reserves Approved bylhe trustees on 28 january 2025 and signed on thelr behalf ty. ANTONYSMITH Trustee Notes forming part of thefinancial statoments forthe period ended 31 March 2024 Accounting policies (al Basis of preparation The accounts have been prepared in accordance with the receipts and payments besls In accordance with the Charty Commission guidance. Ibl Charlty status Tho Charity Is constituted as a Ch8ritable incorporated Organlsatlon {CIOI Foundation. as a body corporate under Part 11 of the Charities Act 2011 on thè 5 July 2023. The CIO register8d with the Charlty Commission on the s8m8 day. Icl Fund accountlng General lunds are unrestricted funds vthlch are available for u88 at the di8cretlon of the trustees in lurther8nc¢ of the general objectNe$ of the charlty and whlch have not beèn de$lgnated lor other purposes. Restricted funds are funds whlch are to be used In accordonce wlth specific re8trl¢tlon8 imposed by donor8 or which h8ve been r818ed by the charity for particular purposes. The cost of iaising and administering such funds 8re charged ayinst the speclflc fund. The alm and use of each restrlcted fund 1$ set out in the notes to the financlal statements. Idl Recelpts All incomlng resources are Included in the Receipt and Payment Accounts when tho Ii¥rlLy actuolly ODt81ns leg8tLy entitled Income. lel Payments All expendlture is accounted for on a p8yments b8515 and has been ciasslfled under headlngs ihat 8ggreyte 811 costs related to the category. Whère costs cannot b$ directly attributod to p¥rticular headings they hove been allocated to 8Ctiviti88 on 8 basls consisteTrt with use of the resources. 2. Membèr IlabS1ities The members of the CIO have no liability to contrlbute to its assets and r¢0 person81 IiBbiltyfor settling its debts and li8bilities. Debt outstsndlng There are no debts outstanding 8t the date of the st8tement of 8ssets and U8bilities. &L Related Parties Controlling entity The charwty is controlled bythe trustees. Duringthe period the Tnjstees received no emoluments or incurred anyexpenses usingTrustfunds.