Docusbn Envelope ID.. 65786977.4A8&428C-BA5o.3A04(l70>l Charlty reglstratlon nLEmher 1204648 (England and Wales) Company registration number 13709751 BOHO ARTS LIMITED {A COMPANY LIMITED BY GUARANTEE) ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
DUs[g Envelope ID.. 657869774A85428c.BA50.8AO4(9170ps BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) LEGAL AND ADMINISTRATIVE INFORMATION Trustees J R Farthing (Chairl A Johnson H A Burion (Treasurer) S Henderson J KW StsageT B DS¢kenson H K Burton Dr. J R Kilburn Secretary B L Dobbing H A Burton Charity numb&r 1204848 Company number 13709751 Reglst•r8d offl¢ 210 Biddlestone Road Newcastle Upon Tyne NE6 5SP Independont gxaminor RMT Accounlanls & Business Advisors Lld G081orth PatkAvenue Newcastle upon Tyn8 NE12 8EG Bankers Lloyds Bank PIC PO Box 1000 BXI 1LT
DOcu8n Envelope10'. 65788977-4A85.428c.BA52AO46917o9e BOHOARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) CONTENTS Page Tru8lees' reporl Independent examiners report Slalemenl of financial aclivi1198 12-13 Balance sho$1 14 Notes lo the financial slalemenls 15-26
Docus EelOpe ID.. 65788977-4A85-428C-SA50-3A0406917098 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORTI FOR THE YEAR ENDED 31 MARCH 2025 The Iru81ees present Ihelr annual report and ffnandal slalemenls for the year ended 31 Mar¢h 2025. Th9 financial slalemenls have been prepared in a¢eordan¢e wilh the a¢¢aunling policies sel out In notè 1 to the rinancial slaten)enls and comply with the oharills goveming document, Ihe Cornpanies Aol 2006 and "Accounting and Reporting by Charities.. Slalement of Recommended Practice applicable to charilies preparing Iheir aocounls in Accordanca with the Finèn(#al Reporttng Sl8ndard applicable in the UK and Republic of Ireland (FRS 1021" 18ffective l January 20191. Objectivès and activitles Boho Arts is a chaiilable organisation whose obJectlves, as sel out in ils Artides of Associalion, are.. To advance Ihè 8rt8 for Ihè public bènèfit, in particu18r bul not excJusivèly Ihrough opportuniliès to Partakè in perfoming arts and allènd Ihèèlrical pèrfom)8nceg, and through thè provlsion of dram8, improvigalion, film-msking, musio, lileraluFe. visual arts and other arts workshops. Our Vision: A world of creallve opportunllies where everyone has a¢eess lo the arts a more Inlegraled socl&ty where they are seen, valu8d and haard. Our Mlsslon: To creale aCsSible spaS and activities where oommunilies. athsls and audienGes can come logelher lo eonnect, GOtlaborat6 and be creative,. By pulling 8cc8ss at tha heart of what we do. we will be indusive and encour8gé participalit)n in th& arts to inslil eoNfid8ncè, wéllb6ing and trÈativè fu5filmènl', By being repre88ntalive of ai)d re8ponsiv8 10 Ilie communily we serve, we will be dynamic and relevant,. We will be ambitious, bold and lake creative iisks. make space lo play. exp8rimenl, lail, leam and build on ideas lo be unconventional, progressive and innovalive., We will inspire positive change by using crealivily lo help break down Social barriers and release the collecllve imagination., and We wlll uphold envlronmenlal r6sponslbllily by nurturing 8nd safèguardlng our rl8n@I for tha wall1n0 of prèsènt and fulurÈ genÈrallDt)s. Alms and ObJBctlv&s Boho Arts plays an active role In N8wcaslle's ¢realive ecology, connecting eommunily participation with the city's wider cultural slralegy. Through participatory art$, Ouf pro9rammes foster Gonnection. creallty, and well-bèing. W9 dtsllvef Incluslve, diveise workshops, p8rfom)ances, and cullural events in Nowcaslle and beyond, spedallsing in improvisation as perfomiaiice artform, creative tool and a life skill. Eiqdoncod lo Improve monlal hoallh. confid0n. and social conneciion, our work promotes lifelong learnlng. self-expression, and community cohesion. We be&ve that evèryona, régardlèss of baekground or circumstance, dèsaNes th8 chane8 io connèct, 8xpress themselves. learn new skllls and féèl p8rl of gomèlhlng blggÈr through the arts. Everylhlng we do Is participatory we Greate art with people. Whether through perfortnance, learning OT collaboralion, partiolpalion lies al the heart of our artis1 and educalional pRctice. By placing partlclpallon and learnlng al Ihe ¢enlre of our work, and through our valuès of ex¢e[l)Ce and empathy, Boho Arts alms lo forge ¢onne¢llon, confidence and ¢reallwly, helping lo bulld stronger, more Qompasslonale and resilient communllles.
Docuslgn Erivelope ID.. 786977-4A85-428c-BAS(k3Ao4069fj7098 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Public Benefit Tho Tiuslees Confirm that Ihey have compllèd wilh thè duly in seclion 17151 of the Charilies Act 2011 to hav8 due regard to the Charlly Commission's general guidancè on public bèn8fit, 'Charities and Pvblic Benefit.. Boho Arts achieve$ publlc benefit by 6nsuring Ihal all ils work 18 participatory, inclusive and Èccessible. Our core School of Iniprov programme offèrg high quality creative learnlng experiences and is open l() adults ol all ages, with a Ilered and affordable prictng slruclurè, bursary s¢heme and free al SOU dasses provided Its remove finsnclal barrlers. Improwsation Is a powerful lool for Improvlng menlal heallh and emotional wellbeing, Èspéclally for our participants who lace isolation, anxiety or depression. Vvo focus on improving wellbeing, cnfidence and belo1lg, p2rticulgrly among paople who experience socyal isolalion or underrepresenlalion in the arts- inoluding people with disabilities and thos8 who are neUr(IVergenl. refugees. asylum seekèrs, and LGBTQl4 pariicipants. Our courses. classes and woikshops lake place in a fun, social and creative learnlng environment, enabling participants lo develop creative and transferablè lifè skills that enhance personal growth. Communi110N and emotional reslllence. For those who wanl lo perform, WÈ provide ample opportLJnities lo participate in real world performances whl¢h ara confidanoe boosling and empowering experlonces. The main activitiÈÈ undèrtaken for the puljlic benellt are: Delivering inclusive improvlsallon-ba¥ed workshops and tralnlng progrnmmps Ihal Comblnè cra8liv6 laarning wilh wellbeing, helping participants lo develop ¢onfldence, communicatson and collaboralion skills. Rullning Iho S¢hool of Improv, a year-round prograMmÈ of prograssiva learning for adulls, offering cours95. classes, laslgr sessions and participatory pertormancès. Slructur6d aeross 4 disllncl learning levels from Boginners lo Advanced, improvisation. stagecraft, volce, movein8nl, n3ryalive, devislng, music 2nd more associated Ihealri¢al tèchniques are incorporaled into our progiamm6. T1u[ghout the year, partiCApants are provided with en)powering, w81 wortd experience. performing al Ihealres and vanués lo livè 2udiences Prodii¢lng and perforinit)u orlglnal partl¢lpatory theatre and performancè prolèet¥ thal bridge the gap between audience and artist, such as Ihg Improvised children's musical Pl¢lU Pal&ca. Delivaring outrèach and educatlonal projects for childn>n and young paople, partnering with Schools and community grovp51o nurlure crealivily, self-expression and Induslon. Leading the Creatlve Arts Hub capital prolèet lo transform a vacant building into a su8t8in3ble Creative ommur)IIy Spdee that will provide accesslble particlpatlon and learning opportunities lor all. Supporiing omorulng artigls and praclitione¥s Ihrough mentoring, training and employment opportunities, ensuring skills and knowledge #re sharéd wilhin a supportive community. Contrlbvtlons from Volunteèrs In 2024-25, Btsho Art8 was also supported by nlne active volunteers, who conlribulad their time and skills across a range of area8, including lechni¢al and stewarding roles at pèrformances, supporting dass facililatlon. safeguarding. market research and 8valuallon, and transporting donated goods for the Creativ& Arts Hvb. Their support is vilal lo the delivery of our programm8s and community engagement, and their Snvolvemenl embodies our pArticlpalory ethos. Through tsur programmè's community base. and wider connections wllh the loe81 ereatsve community, our website and soeial medla (hai)n6ls, Ihore 8r8 ov&Y forty volunteers who have reglstered thelr Interest to assist with preparalions and ffil.oul for the now Creative Arts Hub, demonsiraling th8 slrong community ownership and enthusiasm our work inspires. Strateglc report The descriplion under the hgadings Aehlevemenls and performance" and "Flnancl81 rÈvi&w" meet the company law requirements foi the Iiusloe8 to pre8enl a slralegic report.
Docuslgn ErwÈlope ID., 657869774A&4428C-BA53AO4o8*f7O9s BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIG REPORT) (CONTINUED) FOR THE YEAR ENDE[) 31 MARCH 2025 Achlevements and performanG8 Our slrslegy lo rÈÈlis6 our vtsion duling the year consisted of.. School of Improv Pyogramme The School of Improv continued lo expand as a fiagship piogramme. combinin9 artlsli¢ development wllh measurable social impact. 2024-25 was a Iransformalive yeaT. marking significant gTowih In reach, dlversSly, and organlsalional ¢apa¢lly. BeneficSarl&s and Incluslon OUT community comprise5 adults aged 18 10 81 fmm div8rsè bgckgrounds and walks tsf life, including people who are disabled and non-disabled, neijrolyplral and nèurodivwgénl lincluding individuals with Autism and ADHD), LGBTQl+ participants {including Irans and non-binary Individuals). and refugees and asylum 8eekers. Boho Arts doès not opératè sÈgr6g8tgd or silo groups. All participants share Ihe same inclusive. welcoming environment where difference is inlegr81ed rather than separat. Thls $611se of unlly and shared crealive experience lies at Ihe heart of our mission. Programme Scale and Partlclpatlon B¥iween f Aprfl 2024 ar 31 March 2025. Boho Arts delivered 215 classes and 10 $how¢ase performartCè8, tolallin 0 225 ovtsnts. A¢ross these aelivili6s there were 1,978 class attendances and 496 audience members, amounting lo 2.474 ttstsl èngagements. We weleom8d 211 indivldual partlclpants, includlng If 3 newcomern and 98 returners from pr&vlous years. In total, the programma reached 709 b6neficiaries- comprising 707 partieApanls an¢J 2 trainees. OveT seven temis spannlng 40 weeks, we delivored flve to glght op&n-ac¢e55 class6s èach week, engaging 50-70 regular servlce users. Sessions were held al the Leonardo Hotel In Central New¢aslle Idireelly opposlle Ihe future Creative Arts Hub). while performances look placo al Live Theatrè, Alphabotti Thtsatfe, and Thè CLÈmberland Amis. Equallty, Dlvèrslty and Incluslon Our 2024-25 pro.qramme foGusèd on lh6 th&ms of "Equalrty, Dlverslfy and Incluslon.; supported by a £12,000 project grant from the Communily Foundation's Néweastle Cultural Inveslment Fund (NCIF2), oonllnulng Ih¢wr support Imir) the previous yeai's theme of °Opportuiiily.° This investment enablod Boho Arts lo.. Expand delivery from 176 10 215 cla8se8, increasing acctsss and reach. Provide 11 bursary pla¢è5 for refugees, asylum seekws and people of colour, who look up 149 class place8 and 12 showcasè performance places. Partioipanls, counlries of origin induded Ukraine, Iraq. Saudi Arabia, the Caribbean, Konya, Nlgorla and Namlbla. Deliver 6 free taster workshops offering 88 places, creallng accessible enlry polnls for ntsw partSclpanls. Train alld employ two new practltl0nÈr-teachè. The tsvo trainees completed a structured year.long pathway under executive ienIOrs1p, progrÈssinu ffom sh8dowlng lo pald delivery roles. Bolh are now conlracled part-time as leacher-pTaciilioneis, slrenglhening our de11very paCItY and sustalnabi1l1y.
Docuslgn Envelope ID.. 657869774A85428C-BA504A0406917096 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) {CONTINUED} FOR THE YEAR ENDED 31 MARCH 2025 A naw p2rln6rship with Wesl End R8fug8e Sewioe (tVERSJ helped remove barriers lo pariicip8lion and embed inlegr81ion as a prln¢lpl8 ol our work. This largeled focus on inclusion rosullod a remarkable shlft in our partldpant b8se.' 21fjA of partlclpants were people of colour, and 34 attendees had English as a socond laiiguagts- almost a tènfold Increase froiM th6 prevSous year and well above Newcastle's 11.4°A city_wide average. Boho Arls warmly thanks the Commulllty Foundatlon lor théir ongoing support Ihrough the New(%slle CullLJral Inveslmeiil Fund, whose inveslmeni made ihls work possiblè. Health, Wellbelng and Social Impact Evaluallon evidÈnc8 dèmonslrales thAt thè School of Improv delivers profound benefits for mental health. emotional wellbelng, conftdence, and so¢i81 connection. Participanls d&scrlb¥ the sessions as joyful, uplifling, and Iransformalive - offeiing conneclion, laughter. and lilelDng friendshlps. These r8sulls allgn with nalional evidence that iegular arts participation Improves wellbeing and community cohesion. SuNey hlghllghtg of 56 respondents of 88 who attendttd our tastèr workshop8 ovèy thè year: 1000A fell Indudèd, suppor(éd, and had lun 96°/0 said sessions were sale and enjoyable 930/0 rèptsrtÈd 8 positive impaci on wellbeing 89QA fell more confident 790A plannÈd lo allènd further classes Participants across thè wld&r School of Improv Programme consislenlly d¢S1b8 Boho Arts as 'llfa-ch2nulng,' "a beaoon of hopa,. and 'a safe space for vulnerable adults.. Outcomes include.. Improved menial heallh and redu¢xd anxlely Insreased confidèncè, sèlf-èxprèssion, and social engagement A strong sense of belonging, particularly amtsng r8fugeas, neurodlv8rg¢nl p8rtl¢ipanls, and disabled people Renewed uealivily and mobvÈlion lo puisue artisllc or professional goal8 These arè lust a fèw hlghllghts for Partlclpanls. Testlmonlals: 'Improvisalion has completely Iiansfoimed my Ille.. 'Boho Arts helped me find my lusl for life agaln.. "As a disabled person, l ean lake part lully wlhoul needing support-these classes have given me Confiden every artsa of my lifè.. "As a new arrival to the UK, Boho Arts helped me find frlend8 and feel part oflh8 community.. "Llving with deprègslon and anxi6ly, improv gives me a much-needed respile Irom negative thoughts. I leave class clÈarèr, calmèr, 8nd more oplimislio. °Le8rning lo fail and being coinplelely supported in those Moments has boen life-changing." °Saying yes nol only in improv bul also lo emollons in dally life has made me braver and more present. 'In addition lo how helpful improv has been for me, I con8lanlly seg the p(b$lllve Impact il has on 8veryonÈ 159. Loads of petrple in the community have had similar difficulties with stress and 8nxlèly and yèt comè across ¢(>nfidenl now. Il's therapeutio as muoh as it is educational and fuMI"
Docuslgn Envelope ID.. 66786977-4A85-420C-BA5fv3AQ406917098 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEEI TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Artlstlc Growth, Impact and Legacy Thè S¢hool of Improvs Inclusivè cullure conlinues to spark new creative ventures.. alumni now lun comedy nlghls, skeich group$, and Edlnburgh Fringa shows,. others apply improv techniques in education. care. and community contexts. Parfieipanls consistently report thal Ihe work has Iranslormed their outlook on life and work. Many deserlbe improv a8 'a weekly d08e of croalivily Ihal does wonders lor my mental heallh." a way lo trust my Insllncts,. and 'a reminder that mistakes are part of being human." 'Improv has completely transformed my life. 11 gave me courage lo leav& a higlpprèssur8 NHS job and PUTsue a eatIve Gareer helplng olhers in the arts.. "After beallng Cancer, rèturning lo improv rekindled my love lor performing and helped find myself again.. 'Aweèkly dose of performanae crealivily does wonders for me when I'm not perforrnlng professionalty.. "The first time I was asked lo perform with olhgis watching I was so sred I could easily have just bur51 into lears - bul I was really well supported by My partner lone of Ihe fa¢llilalors) and unbelievably it went W611. That was a huge experien in learning lo Irusl. .1 have found that my fear of failuio has begn lessened Ihrough improv class. I feel fully supporied in class lo make mistakes and fail and in doing so, I learfted Ihal lalllng or bombing isn't as scary as il seems. Il's been very helpful in lackling performance anxSely, becausè I'vé arned that I won't aclually die.. These stories underline the farTrreaching lègacy of Boho Arts, pra¢tl¢è building n)ore ora21ive. connecled, compasslonale, and iesilienl lives. We arè dég.ply gratèful lo all OLJr p8rtieip8nls, vohjnteers, and partner venues - Llve Theatre, Alphabetti Theatro, and The Cumberland Amis- whose collaboration Gonlinues to bring our work lo lile. developlng artislry and wellbeing, vital Sector Support We are graleful for addilional support Irom Community Foundatioll's Vitsl SÈctor Support Fund. The £2,30CI granl supported consu51anl Inpul and executive time lo begin developing a new business plan- 8fh Important slep In 51ronglhenlng our slraleglc and (inancial resilience as we prepared for the next stage of G3pa(¥ly tlk11ng and Ih capital protect Qaying the found¥llon of futurè support Irom NEBIC and Big Issue Investi. Outrèach Work and Other ProJeGts In addition to our core adult learning programmo, Boho Arts conllnued lo extend the reach and 8pplicalion of Impro$all0 across a range of selbngs. Outroach for Chlldren and Young People Boho Arts relurned lo Callerton Acad8my, laaching improvisalion to Year 8 and 9 pupils, and delivei8d creative workshops for Ballet Lorent (for partldpanls agéd 1}7) and Klds Kabln (for children aged 7-111. Thèse oulreach projects inlroduced young people lo impiovisalion as a m@alls of creative expression, cOnfiden- buildinu, and SOeAal ennneclion, relnforcing our comtnilm8nl lo acc6ssibilily and lifelony partldpallon In the aris. Plcture Palace- Pllot Project Plcture Palace is an improvised musical adventu show for children 8nd their families where the children are the stars of the show. Créalad snd produced indapend8ntly by Boho Arts, il is an Original conp1 dew8ed by Ouf exe¢ullve dlreclors and performed by a slx-slrong ensgmble ¢asl of ac¢or-music4ans.
DoGVSlgn Envelopts ID.. 65786977.4A85-428C-BA50-3A0406917098 BOHO ARTS LIMITED {A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT} {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Chmdren In the audlen¢è draw the seenery. slep onlo the stage, dre88 up in costumes, and act out their Imagined stories live, supported by IhÈ ènsemble and musician. The result is a vibrant. empowering oxpollonce for ¢hlldren and a moving, joyful everbl foi their faniili&s-biidging the gap belween audience and performgr, parent and Child. We piloled È proof-of-concept perfomiance al Alphabetti Tlioatrè on 5 October 2024 to an audience of 27 l¢hlldren aged 4-10 and Ihelr parents). The feedback was oulslandlng.. "It's two weeks since the 8how and my chlldren won't slop talking about it or slop singlng the songs. Please do morel" It's so unlque. Ie never seen a better show for chlldrèn than Ihis-and I loved i( tool As a slructured improvised piece, èach performancè is diffèrenl, shaped by the children's imaginalions and the crealivily of the ensemble. The pilot of Plctiir& Pl$cè laid the found21ion for a new strand of Boho Arts, family programming. Pending aris funding. il has the potential for furthef Pgrfomantes al Alphdbelli Theatre. a new parinershlp for a run 81 Live Theatre, tours lo community venue8 arid schools, wlll be¢ome a regular fealure in Ihe new Crealive ArEs Hub once it opens in 2028. Improv for Bu81118SS During 2024-25, Boho Arts delivered workshops for HM Treasury and the Royal Colleg8 of Gèneral Practitioners, using the art of improvisalion lo explore communScation, creativity, and teamwork in professlona conlexls. These aclivilie5 allgn fully with our charitable mission by demonslraling how thè arts can enhance workplace wellbeing arKI collaborallon, while also generating valuabk uiirestrlcted Income that Suppo our public programmes. Capltal Proléct D&v8lopm&nt 2Q24-25 was a plvolal year for Boho Arts. eapilal projeGI, wlh chalenges OverMe and major progrèss sieved lowards 8ecuring the fuluFO Creallve Arts Hub. Early In the year. applications lo Arts CoLFllGiI England 1£440,0001 and The Natlonal Lottery1£250.0001 werè declined, pladng the orlginal £523.QOO conditional award from thè North East Comblned Authority INECAI al iisk. Nonetheless. Boho Arts relained the confidÈnc@ 8nd support of both Newcastle City CounGII INCCI and NECA, eceiving £24,347.$0 through Ihe Cré&llva Cgntr81 Now¢asllo Workspaoe Small Graiit Sch81n8 lo sustain dévelopment activity. This funding enabled the conlinueil appoSnlmenls of the cost consultanL project managgr and aceoss consultaiit. and the PTocurern8nl of a now design 18ain lead deslgnerlarchitect, structural, ar)d M&E •nglnaars lo revise the Stage 3 design8 and producg a able phased plan for delivery. It also supported ollier prof8sslonal sekViCèS and facllltles essenlial lo the capital piolecl's dèvelopmènt. Boho's £10,000 designated Capltal Development Fund Wds used lo support cashflow and conlingeney durlng this phasè. In partnership with Creallve Central Newcostlè, 8 ravlsèd huslnèss case was developed for Phase 1 of Ihe proleet and submilled to NECA in November 2024. Boho's £44,000 from its 2023 crowdlundlng campaign also conlrtbuled toward the new £q.25 million project budget. In Febru2ry 2025, NECAS Technlcal Officers Group reoommanded an upllftèd eapltal award of £957,598, conditional on securing a further £250,000 In match funding. To safeguard the property whilg awaiting funding oonfirfflalion, Boho Arts enlered into a tenancy.at-will agreem9nt on 20 Dge&mb•Y 2024, securing temporary lenanl's rights wilhoul rent untll the 30-yeBr lease could be signed. This phase of the cap1181 lourney demtsnstrated Boho Arts, resillen¢è, uedibillly, and growing repulation as a key partneT in Newcasllo's Grellve Central zone. The continued backing of NECA and NCC reflacls sliong confidenc in Boho's leadership and the proleel's slrategia value for the city. Once complete, the Creative Arts Hub wlll provide a lasting physical home for partleipalory arts in Neweastle's Creative Cenlral zone. W8 extend sincere thanks lo NECA. Newcastle City Council. and Creatlve Central Newcastle for their continued beliaf in Boho Arls and their partneiship in r8a118ing Ihg futuro Creallve Arts Hub.
Docu8n Envelo ID.. 65786977-4A85-428C-BA50-aA0406917098 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT} ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 8nclal revlew Total income lor the period ended 31 March 2025 was £82.47412024= 138.8881. The Charity rèporfed a surplus 01 £1,091 (2024.. TO,3651. Tha balanc8 sheèt shows tolal funds carrled lotward of £114,208 (2024.. £113,117) ol which £83,099 is r6slri¢ted12024.. £66,153). £39,099 of resld¢led funds are held In tangible fixed assets and £44,000 is expeiidable within the capital piojocl. In¢luded wilhln the unreslricled reserves is The Capital Development Fund is to be used lo bridge possible delays in receiving promlsed fundlng or managing payment in arrears conlracls. This has been designaled as £10,000. The charily dosed the yèar with a small operational surplus reflé¢llng planned Inveslmenl In ¢apadly bulldlng and pmjecl development. With confirmed mtjlli-year and proje¢l fLtrnding in place, the Iruslees consider BO1 Arts lo be In 8 slable financial posilion entering 202>26. Reserves poli¢y It is the policy of Ihe charity that unreslricled funds slK>uld bé maintained at a levd equivalenl lo Ihratr Ihonlhs ol operational expendilure, we have designated £17,000 for this purpose. This ensures financial stability and allows thè charity to respond effedively lo unexpeoled events or income fluctuations. At the year end: Unreslricled ieserves designated for core operations were £17,000. Unreslricted reserves designated to the development of the capital projecl were £10,000. These reserves are reviewed regularly to raflecl the variable nalure of the capilal project. Frée régérvés. défin8d as unrÈglricled (unds less any desiunated funds and the valu& of Tangible Fixed Assels, are £3,230. The Iruslees are satl8fied Ihal Boho Arts remains a going concem, supported by a strong furKling base, diveTse inoome streams. prudent finanoal marbagemenl, and effective oveT8ighl. Pyincipal sourcès of funds Boho Arts, rèvenue Ineome In 2024-25 was derived primarily froni unreslricl&d 6arned income generated through the School of Improv prooraMmÈ and olhar projècts al 70 60h Ihrouoh donalions and inv6slmenls. The femaining 24dA of revpnue incomè coniprl8èd of Iwo rgxlriclèd gTanls from Ihe Commullily Foundation, which wer0 fully expended lowards prog¥amme delNery, and bursary 8UPPOrt, and core costs. The Irusloos are sallsfjed that funds have been applied in accordance wilh the charily's objects at)d funder agreem8nls. Capltal Grant Income and Expenditure Capilal granls linked to professional consulianGy and plannlng for the Crèallvè Arts Hub d&velopmènl from NECA and NCC, totsllino £24,347.50. were fully expended. Tha Irusl88s arè salisfi8d th8t those funds hava baen applied in actJ)rdance with the charitys objecls and funder agreemanls, an(f Ihat Ih6s8 Inv8sln)enls hav6 slrenglhened Boho Arts, readiness for the pital dellvery phas8. Invèstment and Social Investment Policy ile a fom)al social Investment policy was not adopted in 202¥25. il will become a focus in 20226 as part ol Ihg soal Inveslineiil Plèii belng developed through Ihe Reach Fund with Big Issue Invesl and NEBIC consultants. The obje¢llvg 18 10 seeure Fl&xibl& Soci81 Fln8nce that supports long-term sustainability 2nd growth in sorAal impact.
Oowsign Envelope ID.. 657869774A85.428C.8A5(k3A0406917098 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Plans for future periods Building on the achigvemenls of 2024-25. Boho Arts will enter 202>26 wilh Tenewed nfidanCe, slrÈnglh@ned govemance, and giealer financial resilience, underpinned by new mulli-year funding ¢ommllmÈnls. Thè nèxt elghleen monlhs will see significanl a¢llvlly for Boho Arts, eonsolid8(ing renI growth, expanding organisalional ¢apacily. and prepaiing for the opening ol the Crèallve Arts Hub in October 2026. Key priorilies indude.. Capltal Project Dolivèry In June 2U25. NLCA'S Delegated Decision Report confirmed Ih8ir £987,598 capltal award wllh £250.000 from Nowcastlo Clty Councll's Accelerated Development Zone IADZI pending match lundlng. Thls was subsequently approvÉd by NCC in Saptgmber 2025, completing the Phase.1 £1.25 million project budget. which also includes £44.000 fyom Boho Arts, crowdfunding campaign. TI7e organisalion will now progross from doslgn and planning towards procurement and ¢onslruction durlng 2025-26. wSlh the Creatlve Art8 Hub scheduled to open In October 2026. Creative Arts Hutj The Creative Arts Hub, $cheduled to open in October 2026. will be a Iran8fomalivè 'Third Plècè°_ a walcoining crealive enviionmonl beyond home Ènd work where people can conneGt, collaborate, and belong. Design lo ba inclusive, aesSIble, and ènvironmÈnlally SLJslainab16, the Hub will serve as a living expression of Boho Art8. partiapalory ethos, where Crealiwly is iJsÈd as s tool for social connection and wellbeing. The Hub Is Iha tlMination of four years of d&velopment that dearly evidonced Ihe need for affordablè, accessible. and flèxible creatlvè space. Comprehenslve markel research and oommunily consullallon idenlSlled a critical shortage of cenlr2lly located vfjnuos suitable for free141ncers, small organisalions. and underrepTesenled groups. Open seven days and nights a week, Ihe Hub is Projected lo w&lcome around 47,000 vlslts In Its first full yaar of operation, rlslng l(b 43,000 annual attendances by Year 3 as awarenèsg and pmgramminu grow. Mfilhin this total, we anlicipale 12,000-28,000 partlclpatory attendances through crealwe learning aclivili88, skills-based workshops. and ¢ommunlty ÈvÈnls, and S,000-1S.000 audience attendances for performan3 and showcase5. The Hub expects lo host 250-300 show8 each year, featuring 100-140 artlsts and groups who reflect Newcaslle's orealive dlverslly and lalenl. Each yeai, around 80-100 frèelance practltloners and grassroots oYganlsatloi)s Are expected lo use the Hub lo support Ihoir benefi¢laries Ihrough workshops, rehearsals, residencies, 8nd performances, generating reguEar (oollall and engagement across thé city's cullural and soeial communities. Comeetively, Ihis aclivily will make a measurablè eontribL¢lion to Newcastle's economic recovery, creatlve workforce development, and social wellbeing, posllionlno the Hub as a ¢lw¢ calalysl for Inclusion. crealimly. and partleJpallon. B8yond providlng physical spa, the Hub will dgliver lasting PLtbllc bèneflt by improving wellbeing. reducing Isol8lion, and loslering a sense of belonging Ihiough shared creallvts experiences. It will support pathways into 61nploymenl and creative enterprise, particulaily for peop18 facing soclal, econoinlc, or heallh-rèlated barriers. UIIIMately. the Creative Arls Hub wlll b8 more than a buildlnu- It will be a clvlc home for inclusivè arts praetlee, brir)ging people logelher lo leain, creale, and ¢onnecl. By 8mb8ddino participalion and sodal impact al ils core, the Hub wlll demonslrale how the arts can build slror)ger, heallhiÈr, and morè connected communilie5. Oryani8atlon81 Growth 8nd Programm8 Dèv•lopment The success of this year's 8xpansion, our owd&nce-driven approach and the proven impact of our S¢hotsl of Improv prouranime slrenglhened Boho Arts, repulglioii and credibllily wllh bolh cu¥renl and new funders. Boho Arts will benefil from new funding commiln)onls Ihal Strengthen dèlivery and resilience. These investments will also slrèngthen Boho Arts, ability lo expand Ils ueallvè lèarning offÉr and ènsure continuity of particlpalion as lh8 orgènisalion transitions into the new Crèativè Art$ Hub.
Docuslgn Envelope ID,. 6578eg774A85-428C-BA50-aAQ406917098 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES. REPORT {INCLUOING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 The Communlty Foundatlon's three-year core grant12025-20281 through Ihe Nèwcastlè Ciiltural Invèstmènt Fund - Ihls lime on our seleeled Iheme of Pio)perily - prowTdes £60,000 over tliree years, undorpinnilig operational 51abllily and worklDi¢e dÈvelopmenl, and enabling Boho Atts lo expand staff capacity and manage the orgynSs3llon's In¢roaslng 5oale. The Sir James Knott Trust has awarded Boho Arls a project grant for 2026-26. the tlrst from th? Trust to Ihè organisalion. whioh will help lowards venue hire cosls and the conlinualion of Ihe bursary scheme for the S¢htsol of Improv helping exlend participalion amonu peoplé who facé financial or soelal barrièr$. Boho Arts will continue lo seek further Investment lo sustain and expand Ihls vital programrne. To meel burgeoning demand, the School of Improv will inlroduGe iiew levels of progression and diversify our offer to include further performing arts concepts and forms. prolding further leaching opwjrtunilies for freelan¢eis, and skills developmgnt f(w Irdinee prdcliliuners dnd volunteers. The next eSghleen tnonlhs wll see 3ignificanl activity not only in th8 capital build bul also in preparng Boho Arts. wider ciealive p¥ogramme in ils new home. The School of Improv Youth Theatre, and plloted programmes such as the Picture Palace and Sunday Gatherlng which were developed as prool-ol-concept projects, remain inlegral lo Boho Arts, long-lerm vision. These plans will bè further developed and funded through a eomblnalEon of Ir4dlnu income, revenua grants 8nd donations as part of the Cr&81ivè Arts Hub's communlly offÈr. Soclal Inve¥tment, Flnanclal and Strateglc Plannlng Through a Reach Fund award supported by Big Issue Invest. Boho Arts will work wilh NEBIC consultants In 202>26 lo develop a Social Inveslmenl Plan aimed al securing flexible soclal finan Ihat underpins long-term susialnablllty and growth In soclal Impact, wilh staffing prolecleij lo InLreabe lo 15 FTE by tho end of 2028. In 202&26, the organlsalion will eslabllsh a wholly-(>wned Iradlng subsldlary, Boho Aits Trading Ltd. lo geneiale addilional incomè that Supports the d)arily's work. The Iradlng arm vll n)anage acliwlies such as the future café- bar, merehandisè sales, and corporate t¥alning workshops, ensuring that all comniercial activity is aligned with BohoArts' charitable purpose and Gonlributes lo ils long-lemi suslainabilily. Boh(> Arts will also establish a VAT group with its IradÉno subsidiary to ènsure &fficienf managèmènl of VAT across ¢haril8bla and commor(llal a¢livili¢s. This sliucture will prole¢l the charity's cultural exemptlon. maximise VAT recovery on capilal works, and maintain compliance as opeialions expand Ihrough the Creative Arts Hub and trading aclivily. Community and Volunteer Engagement Wilh over foriy volunleers ready lo conlrfbule lo Ihè slrfp-ba(, fil-oul and thè fLJlura opèrallons of the Creallve Arl8 Hub, conlinuing partnèrships with WERS, AWlTrgb8ltl ènd Liv8 Tliè8lrè, and new relalionships formlng with hJ8wc&sll8 CollAgs'& ergallvè dÈp2rtménls, Boho Artg will ¢onlinu8 lo nurture community involvemenl, ensuring local people play an active role in shaplng Ihe space and ils lulure use. A particularly Insplring story is that of an 8sylum-se8ker who, afterjoining School of Improv Ihrough a bursary pl8e&, became a valutsd wmmunlly volunletsr, and since has bo8n initiated as a volunteer Iiaine8 faclilalor. His journey from Isolallon lo leadership exernplifies the deop and lasting impacl of our work on individual empowemi8nl and represonlallon. Taken from Ihoir leslimonial, their own words express their Iransformalive journey with us: 'These Ischool of Improvl workshops iminedialely became a beacon of hope for me. l finally found a purpose. I found a way lo saè thè poslllv8 thinos In 1118. Bohts hrtg havè helped me makè new Ifltsnd8 and connedlons. I've beÉn suffèring wllh social Isolation due lo my mental hèalth 9nd my Inabllily to Wafk as an asylum seeker. The frfends I'vè madé have no Issue with iY slaltl8, My dream Is lo one day become a counsellor, who can. like Boho Arts, change people8. lives for Ilie beller.. Slortes like Ihls capture what Boho Arts slands for - creallvlly as ¢onne¢tlon. and particlpallon as a pall)way to belonging. Summary In summary, our plans wlll consolldal8 thè progrèsg madè In rÈi*nl yèars and prapare Ihe oroanlsabon for the next stage ol ils Journey- deliv8ring 8 Crealiva Arts Hub th81 ¢h8mplons partldpalion, Induslvily. alld the Iransformalive power of Ihe aris lor everyono. Thes8 piiorilies are guided by Boho Arts, long-letm vision lo embed crealiwly, conne¢llon, and inclusion al the heart of C1C life. Together with our commullily. Boho Arts is buikling not only a hub. L1 a legacy- a ace where crtsallvily and connection wll Ihrivg for generallons.
Docuslgn EnvÈlopÈ ID.. 65786g774A85-J128C-BA50-3A0406a1709 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) TRUSTEES, REPORT {INCLUDING DIRECTORS, REPORT AND STRATEGIC REPORT) ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 structure, governance and martagoment Risk Managomont Thé Iruslees malnlaln a fom)al risk règlstèr, I'èviawèd quartèrly and updated lo r&flÉcl operalional, fin8noial, and governance risks. Key ¢urrenl risks Indiide thè complèxSly of Capital prDPcl thè polenli81 for axetulivè burnout arising from sustained workload pressures. Mitigation measures inclijde aolive board oversight, succession planning, and recruitsnenl lo new fiiiancial, adminislr81ive, and op8ralitsn81 rolos In 2025-26 lo slr&nglhen leadershlp ¢apacily and oroanlsalSonal resilien¢e. The Iruslees remain confKJenl in Boho Aris. financial slowardship and ils capacily lo dolivor sustainable growth over Ihe comir)9 years. Boho Alls Limited was formed as a chaiilable company limited by guarantee, IrbCOTporaled on 281h O¢lober 2021, and became a regislered charity on 111h September 2023. Governance The charily is governed by a memorandum and aTtides of association. The governance Is thè iesponsibilily of the Board olTruslees, which lakes decisions on the strategic leership of the organisalion by democfalic majority vole 8t its gafteral me6tit)gs, which take plac& throughout the year. The Board comprises of appolnted Iruslees. Day lo day managetnenl of Boho Arls Limilod is delegated lo 2 employees,. Bev8rltsy Dobblng AKA Bev Fox, CEO and Artislic Director, and lan McLauohlin. Execulivo Cioalivo and Technical Diroclor. The selllng of pay and remunerations ol employees is held at The Board of Trustees level. The Iiusloes, who aro also tho director$ for the purpo86 of eomp8ny18w, and who sérvéd dLJring th8 yaar and up to the dale of signature of the fillanclal slalemenls were.. J R Fatihing Ichair) AJohnson H A Burlon {Tieasurerl S Henderson J K Wseager D R F8wehinml B Dickenson H K Burton Dr. J R Kilburn (Resigned 23 May 20241 Upon 8ppoinlmènt, 811 trustèes are provided wilh role descriplions, an information pack including the annual rep(wi, mèmorandum and articlès of 8ssoaalion and policy and procedures. Existing trustees and staff partipate in the Induction. Perlodic training is madè available lo the Board lo svpport Iruslees Sn their role. None of the trustees has any beneficial interest in Ihe company. All of the Iruslees ale members of the company aTKI guarantee lo contribute £10 in Ihe event of a winding up. statement of trustee8' re8F)onsibilitie$ The IruslÈÉs, who ara also th& direclors of Boho Arts Limited for the pvrpose of company law. are responslble for preparlng the Trustees, Report and lh¢ finandal slalements in accordance with applicable law and Uniled Klngdom AcTh)unling Slandard8 {Uniled Kingdom GeHorallyAccepled Acwunllng PraGllce). The Iruslees. report, including the slralegi¢ reporl, was apprtsved by thè Board of TFu$lees. J R Farthlng - Chalr of Trustees 23 Oclober 2026 10-
Docuslgn Envelope ID.. 66788977-4A85-428C-BA5fh3A0406917098 BOHOARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BOHO ARTS LIMITED I report lo the Iruslees on my examination ol the finan¢lal 8lalemenls of Boho Arts Limited {Ihe tharlly) lor the year ended 31 March 2025. Responsibilities and basls of report Ag IhÈ IrusleÈs of thè charily land also ils direclot8 for Ihe purpose5 of Company IAW), you are responsible for Ihe pr8parallon L)f the flnancial slal6m&nls in accordance with the requirerllenls of Companl8s Act 2006. aving satisfied myself Ihal the financial slalemenls of the Bharily are nol required to be audited under Part 16 01 Ihe Companies Acl 2006 <ind are eligible for independent examination, I report in respacl of my examination of the charity's financial slalemgnls carrfed out under section 145 of the Charities Acl 2011. In carrying out my examination I have followed the Direction8 given by the Charity CommTrssion under section 14515){bl ol Ihe Charflles Act 2011. Indgpendent examlner's statement I have compleled my examination. I confiiin that no matters have come lo my allenlion in cortnectson with the examinalion giving me cause lo believe thal in any maloiial rospecl.. accounting records were nol kapl in rèspact of the Charity as required by section 386 01 the Companles Act 2008. the financial slalemenls do not accord wllh Iho8É rècords., or the financial slalemenls do not comply with the 8ecounling requirements of section 396 of Iho Companlets A¢1 2006 other Iharl any Fequiremenl that the finanoial slalemenls glve a Irue and fair view, which is nd a mallèr considered as parl of an independent 8xaminalion'. or the financial stalemenls have not bèèn prèpared in accordance wilh the method8 and PFin¢iplgs of the Statement of Recommended Praclleè for 8ceaunling and reporting by charities applicablo lo chaiilies preparlng Iheir financAal slalernenls in accofti8nc8 with the Fin8n¢lal Reporting Standard applicable in the UK and Rèpublie of Ireland IFRS 1021. I have no conceins and have come across no other maltefs in conneclion with the examinallon to whlch all8nlion shouEd be drawn in this report in order lo enable a proper understanding of the financial slalemenls lo be règehÈd. stephen Slater BA IHons} FCA RMT Accountants & Business Advl$oY$ Ltd Gosforth Park Avonue Nèwcastlè upon Tyn8 NE12 8EG Dated= .%.It. .10
Ocusign Envelope ID.. 65786g774A428c.8AS0-JA040ssl7O98 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Current fillan¢lal yèar Unrestrlcted funds 2025 Resliicted funds 2025 Total Total 2025 2024 Noles Income and èndowments from: Don8lions and legacies Charilable activities Other trading aclivi11è8 Inveslmenls Other Income 1,313 40,470 38.648 39,961 40,470 107,784 30,946 11,7481 1,091 817 1,966 77 1,96S 77 Total Income 43,826 38.648 82.474 138,889 Expenditure on: Charitablè 8ellvStsès 64,259 17,124 8fj.383 68,524 Total expenditure 84.259 17.124 81.383 68,524 Nèt incomèllèxpèndStur•l (20.4331 21,524 1.091 70,365 Transfers beeen funds 4,578 14,5761 Nèt veMent In funds 10 (15.8551 1e,g46 1,091 70,365 Reconclllatlon of funds.. Fund balances al 1 April 2024 46,964 66,153 113,117 42,752 Fund balancés at 31 March 2025 31,109 83,099 114.208 113,117 The stslemenl tsf financial aclivilies includes all gain$ and10ss88 r8¢ounlsed Sn the year. All income and expenditure derive from ¢onllnulng acliwlies. 12.
Do¢US[¥ Env610 ID.. 657869774A85-428C-8A50-3A04069171108 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Prlor flnanclal year Unreslrlcted funds 2024 Restrlcted funds 2024 Totsl 2024 Notes Income and endowmgnts from: Donallons and legae4es Charilabltt activities Olher trading acliwlies Investments Olher income 80.430 30,946 27,354 107.784 30.946 11,7491 1,091 817 11.7491 1.091 817 Totsl income 113,284 25,605 138,889 Expenditure on: Challlable activilie8 54.286 14.236 68,524 Totsl &xp&ndltu 54,286 14.238 68.524 Net Income 58.998 11.367 70,365 Transfèrs bettveen funds 112,069) 12,089 Not movement lrt fuhds qo 46.S29 23,436 70,365 Re¢on¢lllatlon of funds: Fund balances at 1 April 2023 35 42.717 42.752 Fund balancès at 31 March 2024 46.964 66,153 113,117 13
tlocusEqn Envelope ID.. 657869774A05-428C-BA5(k3A0406917098 BOHO ARTS LIMITED {A COMPANY LIMITED BY GUARANTEE) BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Noies Flxed asse18 Tangible assets f4 39,978 23,384 Current assets Debtors Cash al bank and In hand Is 2,037 76.119 313 93,737 78,156 94,050 Credltors.. amounts f8lllng du• wilhln ona year q6 {3,926) (4.317) Nel current as$818 74.230 89.733 Tol41 assèts lass current Ilabllltle8 114,208 113.117 Income funds Rèslrielad funds restricted Designated funds Genéral ui)rèslricted funds 18 83,099 66,153 19 27,000 4,109 10.000 36,964 21,109 4S,964 114,208 113.117 The company is enlilled lo thè Èxamplion from Ihe audit iequiremenl conlalned in sedion 477 of tha Companios Act 2008, for the year ended 31 M8rch 2025. The dirèctors acknowledge their reswnsibililies for complying with Ihe ie4ulren)8nts of the Companies Act 2006 Ih respect lo accounllng records and the pieparallon of financiAI slatemenls. Thè members have not required the wrnpany lo obtain an audit of Ils finandal slalements for the year in quesllon In ac¢ord8n¢& wllh section 47e. These finanaal slalemenls have been prepared In accordance w51h the provisions applicable lo ¢ompanlès subject lo Ihe small companios reglme. The finanaal slaternenl8 wero approved by ihe Truslees on 23 October 2025 J R Farthlng ¢halr of Trvstees Company reglstratlon number 13709751 14
Docuslgn Envelope ID.. 7[$6)77-4A85.426C-8A53AO4O69l70g6 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policie$ Charlty Information Boho Arts Limited is a privale company limited by guarantee incorporated In England and Wales. Th rogislwed Offi is 210 Biddleslone Road, Newc¥sllÈ Upon Tyne, NES 5SP. f.l Basis of prepardtio Thp finandal statements have been PTepared in ac¢ordan¢e wllh thè chsrily's governing document, th6 Companies A¢1 2006, FRS 102 "The Financial Reportlng Slandwd applicabla in the UK and Republic ol Ireland" l°FRS 102,? and Ihe Charilles SORP "Accounting and Reportlng by Charities.. Statement 01 Reeommended Praclice applicablo lo ¢harilles preparing their accounls in accordance wilh the Finanual Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffeclTrie 1 January 20191. The chaiily is a Publlc Benefit Lnlily as defined by FRS 102. The GhaFity has taken advanlaga of th& provlsions in the 8ORP for charities nol lo prepare a Stalgnenl of Cash Flows. The finan¢lal 8lalÈm@nls are prepared in sterling, which 15 the functlonal currency of the charity. Monetary amounts in these finanu818lalernenls are rounded lo Ihe neaiesl £. Thè financial slalemenls have been prepared under thè historical cosl convention. The principal aocounling policles adopted are sèl out below. 1.2 Going concern Al the lirne of approvlng Ihè financial slalemenls, Ihe Iruslees have g reasonable expectation that Ihe ch3rf1y has adequate resourcas lo eonlinue in operabonal exislenco for the foreseeable future. Thus the Iruslee8 continuè lo adopt the going concern basis of accounting in Preparing the fingnclal slalaments. 1.3 Charitable funds Unresliicled funds are available for use al the dlscrelSon ol Ihg trustees Ir) furtherance of Ihelr charilabl8 objectives. Designated funds ¢omprfse funds which have be&n sel aslde al Ihe discretion ol the Iruslees for Speclfitt purposes. The purposos and usès of th& designated funds ale 8el out in the notes lo Ihe financial statements. Reslricted funds are subjecl lo 3peclfic ¢i)nditlons by donors or grantor8 as lo how they may be used. The purposes and uses of the ieslricled fund8 are gÉl out in the notes lo the financlal slal8menl5. 1.4 Incoma Income is recogni$ed whèn th& ch8rily is legally enlilled lo il after any performanee condilions have been mel, the amounls can be measured reliably, and11 is probable that income 11 be rèeÉivèd. Cash donations are recognls8d on receipt. Olher donations aio r8cognlsed oncè thè charily has been notified of Ihe donation. unless perform8n¢a nditIonS require deferral of th6 amount. Incom8 lax recoverable in rèlation lo donalions recelved under Gift Aid or deeds of covenant is re¢ognlsed al IhÈ Ilmè of tha donation. Legacies are recognised on veceipl or othgtwisg Sf the charily has been ntslified of an Impènding distribution, thè amount is known, and receipt is @xpecled. 11 the amount Is ntst known, th8 lÈg8cy is treated as a conlingenl asset. 15
Docuslgn Envelope ID.. 65786g77-4A428C.ASo-5A04o69I7Q98 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Ac¢ounting pollcle8 {Conlinuedl 1.6 Expendltura All expenditure is aocounled for on Èn aecrual basls and has been dassified under the headings that aggregate all cosls lo that category. Charilablè aclivlly costs indudÈs axpènditure relating lo Ihe operalion of the charity and indudes both direct and support costs Telaling lo Ihose a¢livili6s. Support ¢osls include cenlral function expèndilur6 And are allocaled on the basis of staff allocated lo each aclivily. Gtsvornai)cts cosls iticludÈ IhosÈ incurréd in the governanae of the charity and Ils assets, and are primaiily a8s0cialed with conslilutsonal and slalulory rèquirements. 1.6 Tangible fixed assets Tangible fixed asse15 arg inilialty m9asured al cost and subsequenlly measured al cost or valuation, nel of depreciation and any impairmonl Ios5CS. Depreciation is recognised so as lo wiilo off the cost or valuallon of assets less Iheir residual va5ues over their useful lives on the following bases.. Compuleis 25% Slraighl line The gain or loss arising on the disposal of an asset Is delermlned as Iha difference belween the sale proceeds and the carrying value of the asset. and Is Tecognised lh8 slal8m8nl ol finandal acllvilies. q.7 Impalrment of flxed assets Al each reporting end dale, the chaFity reviews the carn9 amounts of Ils 18ngible assets to delermine whelher there is any indication Ihat those assets have suffefed an Impalrmènl loss. If any such indication exlsls. the recoverable amount of the asset is eslimaled in or4Jer lo dÈlèrmlnè thé 8xi6nl of lh6 impairment 03$ Ilf any). 1.8 Ca¥h and cash equivalents Cash and cash equivalenls include cash in hand, deposils held al call wllh banks, olher short-term liquid Inveslments with original malurilies ol Ihree tmonths or less, and bank overdraffs. Bank overdrafts ara shown wilhln bt)rrowlngs Sn currenl lièbililies. 1.9 Flnanclal Instruments The charity has èleclpd lo apply Ihe prowsions of Section fjl 'Baslc Finanal Insliumenl8' and Section 12 'Olher Financlal Inslrumenls18sues' of FRS 1Q2 to all of Ils financial inslruments. Flnanclal Instruments are recognised in the CharilS balance sheel when the ¢ha¥lty b8comè8 paty to the nlr8dual provislons of the inslrument. Financial assets and liabililies are Off1, wllh Ihe net amounts presented in the financlal slalemenls, when there is a legally enlorceable right lo sel off thè reeognised amounts and thère is an Intention lo sellle on a nel basis or lo reafise the asset and sellle the liabllily siMul(antsously. B8slc flnaiiclal ass8ls Basic financial assets, which include debtors and cagh and bank bal8ne88, arè initially measured ai transa¢lion price Including Iransaciion cosls and are subsequently caiiled 81 amortistsd cost using the elffecllve Interest method unlèss the arrangement conslilvles a financing Iiansaclion, wh818 the IransaclSon Is mèasijréd 81 tha près8nl valu6 of the lulure receipts dlscounled al a markel rale of inleresl. Flnancial asse18 dassified 8$ re¢eivabl¢ wilhln on¢ year are not amortised. 16-
Dowslgn Envelope ID.. 657869774A85.428GBA51k3A0406917098 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accountlng policie IContlnu8dl Bas1¢ flnan¢lal Ilabllltles Basic financial liabih'lies, includlng cr8dilois and bank loans are inllially recogi)ised al Iransa¢lion prl¢a unléss the arraiigemenl conslilule8 a finallcing Iransaction, where Ihè debt inslrumenl is measured al the present value of the luture payments discounted al a markol rale of Inleresl. Flnanelal liabililies dassified as payable within one year are not amoriised. Debt inslrumenls are sulJ$equenlly carrled al amortised cosl, Ljsing the efieclive Interest ral8 Method. Trade creditors are obligations lo pay ftsr goods or sèNcès Ihal h8vè been aaquired in the oldinary course of operallons from SLippliers. Amounts payable are classified as CUTfenl liabilities il paymenl Is due wilhin one year or less. 11 not, Ih8y are presented as non-current liabilities. Trade credilors are recognlsed Inilially al ransaction price and subs6qu8ntly measurerl al amortised cosl using the effectivo inlorosl method. Déréeoynltlon of flnancial liabililies Flnaiid¢il Ilabilities are deTecogni5ed when the thaiily's nIraClal obligabons expire or are discharged or cancelled. 1.10 Employee benefits The cost ol any unused hollday enlitlemenl is recognised in the period in whlch the Èmployè@'S S6Fvices are received. Termlnalion benefils are recognised Immedlalèly as an expènsè wh6n Ihe charity Is demonstrably commilled lo lermlnale the employmenl ol an ernployeÉ oi lo prodè lèrmin81ton b6nafils. 1.11 Retirement hènèfrts Paymonls lo dgfined conlribulion retirement benefit schemes are chargèd as an pense as they fall due. Crlllcal accountlng estimate8 and luduomènts In the appllcalion ol Ihe charity's accounilng policies, thè IruslèÈs are raquired lo make judgemenls, eslimales and assumptions aboul the carrying amount of assets and Siabililies that ale not readlly apparent froni other Sour$. The Èslimalès and associaled assumptions are based on historical experience and other factors that are considered lo be relevant. A¢lu81 results may dlffer from these eslimales. The estimates and underlying assurnplions are rewewed on an ongoing basis. Rewsions lo ac£ounllng ostim8tes are recognised in the period in which the oslimaltt ig lesed where the revision affects only that period, or in the period of Ihe revision and future periods whère thè rèiislon affecls both currenl and future period8. 17-
Docus EtwelopÈ ID.. 65786977-4A85-428C-BA50-3A0406g17098 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Donatlons and legacios Unrastrlcted Restricted funds funds 2025 2025 Total Total 2026 2024 Donations and gifts LegacAes receivablÈ Grants re¢&ivablo 1,313 1,313 430 80,000 27,354 38,648 38,648 1,313 38,848 39,961 107,784 Grants rècolvablè for core actlvlties North ol Tyne Combined Aulhorily- Cutture & Creative Inveslmenl Programme North of Tyne Combined Aulhorily- Cily Life Community Foundalion North East Combined Auhorily and Nowca511e Clly Council- Creative Central NCL Programme Community Foundation - Vllal Séctor Support Scheme Community Foundation - Neweaslle Cullural Inveslmenl Fund 16.796 780 9,778 24,348 24,348 2,300 2.300 12,OOLb 12,000 38,648 38.648 27.354 Charitable actlvltles 2026 2024 School of Improv Anallary trading income 33,71 6,754 29,846 1,3(Kl 40,470 30,946 Other tradlng 4ctivities Re8triotsd Restricted funds funds 2025 2024 Fundralslng events {1,749) In 2023 8 provision was made in respect of Glft Ald 88gorial with th8 fundraising income. The amount was nol rewverable and the provision was reversed in 2024. 18
Docuslgn Envelope ID.. 65786F177-4A85-428C-BA504A040S917098 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 IncomÈ from Invèstments Unrestrict8d Unreslricted funds funds 2025 2024 Interest receivable ,966 1,091 O¢her Income Unr¢strl¢tod Unrestilcted funds funds 2025 2024 Olh&r Income 77 817 19-
Docuslgn Env8lop610.. 657869774A85-428C-BA504A0406917098 BOHO ARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 ExpÈndlturè 01) charftable activltios Direct charitablo èxpei)ses 2025 Dlrect eharitsb xpÈns&s 2024 Dlrècl tosis Slaff cosls Depreciation and impairment Freelance lees Worplace hire and factlilies Consultancy Marketing and communi¢alion costs Subsoriplions Office consumable8 Sank fees Other staff co818 Volunteer expensès Other project cosls Sundry 50,258 352 1,080 13,091 6,572 935 1,152 301 543 3,261 50 40,976 176 5,854 10.380 823 769 715 2.124 75 935 217 127 77,722 63.089 Share of support and governance costs Isee note 9) Goveman¢e 3,661 5,435 81,383 68,524 Analysis by fund unrestCled luiids RÈslri¢led funds 64,259 17,124 54.286 14.238 81,383 68,524 Support costs allocated to actlvltles Dlréct charitabl expenseg 2025 Total 2024 Insuran Rent and Tales Governanoe 664 204 2,793 5,435 3,661 5.435 20-
Docug1gn Enveltspè ID.. 71I69774A85-426C-BA5(3AO4O6gfj7O9 BOHO ARTS LIMITED (A COMPANY LIMITED BYGUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Support Costs allocated to actlvlues (Continuedl 2Q25 2024 Governance Costs comprlse: Audit fees Legal and professional 2,040 753 1,920 3,515 2,793 5.435 10 Net movement In funds 2026 2024 The nel movement in funds Is slated afler ehargingl{crediting)'. Fees payable for the independenl examination of the charills financial stalements Depreclalion ol owned tangible fued assets 2,040 352 1,920 176 q Trustèès Mon8 of thè twsféès lor ahy [sOM$ connected wlth Ih¢ml received any gxpenses, remunerallon or benefits fiom the charity during the year or prior year. 12 Employ09$ The average monthly number of employees durSng the year W8S', 2025 Number 2024 Number oho team Employment costs 2025 2024 Wages and salaries Olher pension costs 48,611 1,647 39,957 1,019 50,258 40,976 There were 8mployeo8 whose annu81 remunerallon was more than £60,000. Reinuneratlon of key management personnel The remuneration of key management personnel Is as follows. 2025 2024 Aggregat6 compensalion 46,a33 40,976 21
Oocu31gn Envelope10.' 657869774A85-428C.BA50-3A0406917098 BOHOARTS LIMITED (A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 13 Taxation The charily is exenipl froni laxalion on ils acliv41ies because all its income is applied for charitable purposes. 14 Tangible fixèd assets Assets undetr onstruciion Compo¢èr$ Tatal Cost Al 1 Aprtl 2024 Additions 22,153 16,946 1.407 23,560 16,946 Al 31 Maich 2025 39,099 1.407 40,506 Dopr6ciation and impairmènt Al 1 April 2024 D8precialion charged in the year 176 352 176 352 Al 31 Mar¢h 2025 528 528 Carrylng amount Al 31 March 2025 39,099 879 39,978 At 31 March 2024 22,153 1,231 23,384 IS Dèbtor8 2025 2024 Arnounts falling due wlthin one year: Trdde débtors Olher deblors 1,973 64 313 2.037 313 16 Creditors: amounts falllng duo within one year 2025 2024 Trade cieditors Other creditors Accrua18 (Seferred incom 50 1,836 2.040 2,397 1.920 3.928 4.317 22-
Docuslgn Envtr1opè ID.. 6578fj977-4A85.428C£A50.3Ao49l7o9e BOHO ARTS LIMITED {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 17 Retlremenl benefit 8cheme8 2025 2024 Dgfined ¢ontrlbullDn schemes Charg8 to profil 01 losg In règpèel ol dèfined conlrlbulion schÈm6s 1,647 1,019 The ¢harity operates a defined conlribulion pension scheme for all qualifying employee8. Thg asset8 of the schema are held separalely froin Ihose ol the charily in an independenlly administered lund. 16 Restrlcted fund8 The reslrtcled funds of the charily comprise the unexpended balances of donations and grants held on Irusl sublect lo speriG ¢ondlllons by donors as lo how they m2y b& used. At q April 2024 Incoming resources Resources expended TransfÈr8 At 31 March 2025 Capital project Capilal devèlopment Newcastle City Council & North East Comblned Authority- Creallve Central NCL Small Wo¥kspace Grant Community Foundation- Vital Seolor Support Scheme Community Foundation- N¢wc8sll& Cullural Inv¢slm&nl Fund 44,000 22,1 Jf3 44,OOD 39.099 16.946 24,348 17,4021 116.9461 2,300 11.5281 {7721 12,01 18.1941 {3.8081 88,153 38,848 {17,1241 {4,5781 83,09 Pr•vlou8 year.. At rf April 2023 Incoinlng Yesources Resources expended Transfers At 31 March 2024 Capital project Capital developmelll NCC- Cullurts & Crèativè Invèsln)8nl Programma NCC- City Llle Community Foundation- Culture Inveslmenl 42,717 {1,74gi 11,1601 4,192 22.153 44.000 22.153 16,7 12.5201 17801 114.2761 9,778 19.7781 42,717 25,605 114.2381 12.089 68,153 23-
Docvsign Envelope ID.. 85786971-4AB5.428C.BA50.3AQ4O6917098 BOHO ARTS LIMITED {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 18 Restricted funds {Contlnuèdl Cap5tal Project Funds ralsed through crowdlunding and furaISIng evenl to repurpose a vacanl property in Newcaslle into an Inclus8 Cre8lNe CommunilyArts Hub Capital Development Support the development costs of the projeci and repuipose the capllalised asse18 of the Arts Hub. North of Tyne Combinèd Authorlty- Culture & Creative Investmènt Programme Cosls ol design and fea5ibSllly work for Ihts developmenl of IheAtts Hub. North of Tyne Combined Authorlty. Citylife Cosls ol SUPPDA with Arts Council Applicalion. Community FOndatIOn - Nawcastla Culturn Invèstment Programme capa<¥ly building Including Sunday Galhéring èvènl. N9wcastle City Council & North East Comblned Authorlty Creatlve Central NCL Small WoFI(8pace Grant Continued Inveslmenl In Ihe costs of desion. seNices and facllllies for the capllal development of the Arts Hub. Community Fouiidation- Newcastle Cultural Investment Fund Continued inveslmenl in the School of Improv core programme. training new factlilators and providing bursary places for refugees and asylum seekers in Newcasile communlty Foyndatlon- Vltal Sector Support S¢h&mg Consultancy support to produ¢0 a buslnests plan Transfers between funds The following Iransfers lo I from the general fund occurred during 2025.. £3,806 from Communlly Foundation- Néwcastle Cultural Inv6slmenl Fund to cover core wages and bursary places. £772 froni Community Foundation- Vital Sector Support Scherna lo cover ctsre l tsxeculiva Salaiies. £16,946 froni Newcastle Cily Cotjncil & North Easl Combined Authority Creative Central NCL Small Woikspaco Grant into Capital Dèvelopment are the costs èssotialed with Ihe assets under conslruclion Ihat have been capilall8ed lh¢ year. -24-
DocuSn Envelope ID.. 65786977-4A8&428C-BA50-3A04069f7098 BOHO ARTS LIMITED {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 19 Unroslrlct8d funds Tho unreslri¢led funds of the chaiily comprtse Ihe unexpended balances of donalions aiid granls whith are not subject lo specific conditions by donois and grantors as to how Ihey may be used. These iiiclude designated funds which have been set aside out of unreslricted funds by the Iruslees for specific purposes. At l April 2024 Iiicoming resources Resources expended Transfers At 31 March 2026 Capital Development Fund Operational Reserves Geiicral funds 10,000 10,000 17,000 4,109 17,000 {12.4221 38.984 43,826 {64.2591 46,964 43,826 {64,2591 4,578 31.109 Prèvlous year: At 1 April 2023 Incoming resources Resources expendèd Transfers At 31 March 2024 Capllal Dov¢lopmonl Fund General funds 10,000 {22,069) 10,000 36,964 35 113,284 154,286) 35 113.284 154.286) {12,069) 46,984 Capltal development fund Unreslricted lunds CTrf £10,OOU have beet) sel aside for the puipose ol brldglng posslble delays in reBelviny promised funding or managing payinents in arrears ¢onlra¢ls. Operational reserves Unre81ricled fund for £17,000 which represenls three mDnlhs core operations has been designated. 20 Analysls of net ass6t$ between funds Unrèstrletèd fund5 2025 Restrfctèd funds 2025 Total 2025 Al 31 March 2026.. Tangible assels Current as8etsllliabililiesl 879 30,230 39,(9 44,0 39,978 74,230 31,109 83,099 114,208 -25-
Docu$n Envelope10.. 657869774A85428C.BA50.3A0406917098 BOHO ARTS LIMITED {A COMPANY LIMITED BY GUARANTEE) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 20 Analysls of net assets between funds {Conlinuedl Unrestrlcted fund$ 2024 Restrlcted fvnds 2024 Total 2024 At 31 March 2024.. Tangible assets CuF¥enl asselsl{liabililies1 1,231 45,733 22.153 44,000 23,384 89.733 46,964 86,153 113,117 21 Related p#ty transactlons There were no disejosable related party Iransa¢llon8 during the yèar (2024: none). -28-