REGISTERED COMPANY NUMBER: 15370796 (England and Wales) REGISTERED CHARITY NUMBER.. 1208861 SCOThISH CHARITY NUMBER: SC054017 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 27 DECEMBER 2023 TO 31 MARCH 2025 FOR LIVE ENTERTAINMENT & ARTS FOUNDATION
LIVE ENTERTAINMENT & ARTS FOUNDATION CONTENTS OF THE FINANCIAL STATEMENTS FOR THE PERIOD 27 DECEMBER 2023 TO 31 MARCH 2025 Page Report of the Trustogs Independent Examingrfs Report Staternent of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities
LIVE ENTERTAINMENT & ARTS FOUNDATION REPORT OF THE TRUSTEES FOR THE PERIOD 27 DECEMBER 2023 TO 31 MARCH 2025 The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 27 December 2023 10 31 March 2025. The Iruslees have adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (effective 1 January 20191. INCORPORATION The charitable company was incorporated on 27 December 2023. OBJECTIVES AND ACTIVITIES Objectives and aims The charity is an exciting newly registered charity in England {charity number 12088611, and Scotland {SC0540171 poised to create a transformational impact across the UK. Through a groundbreaking partnership with ATGE, the stage is now set for the charity to begin delivering 8 lasting public benefit and a legacy that inspires, educates and connects communities for generations to come. Significant activities During the period under review, the charity secured grant funding amounting to £100,000. Operating expenses were minimal, limited lo professional services related to the preparation of accounts and independent examination. The primary focus during this period has been estsblishing the business plan in preparation for delivering charitable activities in the following financial year. Public benefit The Iruslees confirm that they have complied with the Charity Commission's guidance on public benefit when reviewing the charity's aims and objectives, in planning future aclivilies, and for the purposes of formulating its finalised grant funding policy. ACHIEVEMENTS AND PERFORMANCE Charltable actlvlties In the first year, the trustees established the foundations of the charity by forming a committed board of Iruslees, defining the mission, values, and future year ambitions, and developing a robust business plan with a Ihree-year financial outlook. These essential steps have positioned the trustees to deliver impactful. inclusive programmes that open access lo live enlertainmenl-supporting underrepresented individuals and conlribuling to a more diverse, creative, and equitable cultural sector. FINANCIAL REVIEW Financial position The charity has an unrestricted financial position of £100,000. Reserrfes policy The Charity maintains a reserves policy lo ensure financial stability and the ability lo continue its core work in the event of unforeseen circumstances. The Board of Trustees has agreed that an appropriate level of unreslrided reserves is the equivalent of three months of core operating costs, which is currently sel at £25,000. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charitable Company is governed by ils articles of association as adopted on 21 December 2023. Charity wnstitution The charity was formally constituted 27 June 2024 (registered in England by the Charity Commission) and 27 February 2025 {registered in Scodand by the Scottish Charity Regulator) as a Charitable company. Recruitment and appointment of new trustees Appointment through willingness lo act to be a director and appointed for a fixed term of up to 3 years. Page 1
LIVE ENTERTAINMENT & ARTS FOUNDATION REFERENCE AND ADMINISTRATIVE DETAILS FOR THE PERIOD 27 DECEMBER 2023 TO 31 MARCH 2025 Registered Company number 15370796 {England and Wales} Rggistergd Charity number 1208861 Scottish Charity number SC054017 Registered office 4-5 High Street West Sunderland SR1 3EX Trustees A Ahmet (appointed 27112120231 J Omellschenko (appointed 27112120231 A Rawlinson (appointed 27112120231 Independènt Examiner Marriott Gibbs Rees Wallis Limited Chartered Certrfied Accountant5 First Floor Unil 4, Broadfield Court Sheffield South Yorkshire S8 OXF 2610812025 Approved by order of the board of Iruslees on ............................................. and signed on its behalf by.. A Rawlinson - Trustee Page 2
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF LIVE ENTERTAINMENT & ARTS FOUNDATION Independent examinerfs report to the trustees of Live Entertainment & Arts Foundation (Yhe Company'l I report lo the charity trustees on my examination of the accounts of the Company for the period 27 December 2023 to 31 March 2025. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 20061'the 2006 Act'i. Having satisfied myself that the accounts of the Company are not required lo be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 I'lhe 2011 Acl'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145151 Ib) of the 2011 Act. Independent examiner's statement I have completed my examination. I confirm that no matters have come lo my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord with those records., or the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a Matter considered as part of an independent ex8mination', or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 10211. I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Tina Dawn Havenhand FCCA The Association of Chartered Certified Accountants Marriott Gibbs Rees Wallis Limited Chartered Certrfied Accountants First Floor Unil 4, Broadfield Court Sheffield South Yorkshire S8 OXF 2610812025 Dale- Page 3
LIVE ENTERTAINMENT & ARTS FOUNDATION STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 27 DECEMBER 2023 TO 31 MARCH 2025 Unrestricted fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 101,782 EXPENDITURE ON Other 1.782 NET INCOME 100,000 TOTAL FUNDS CARRIED FORWARD 100 000 The notes form part of these financial statements Page 4
LIVE ENTERTAINMENT & ARTS FOUNDATION BALANCE SHEET 31 MARCH 2025 Unrestricted fund Notes CURRENT ASSETS Cash at bank 100,000 NET CURRENT ASSETS 100.000 TOTAL ASSETS LESS CURRENT LIABILITIES 100.000 NET ASSETS 100 000 FUNDS Unreslricled funds 100,000 TOTAL FUNDS 100 000 The charitable company is entitled lo exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2025. The members have not required the company lo obtain an audit of its financial slalements for the period ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006. The Iruslees acknowledge their responsibilities for lal ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and preparing financial statements which give a true and fair view of the slate of affairs of the charitsble company as al the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating lo financial stalemenls, so far as applicable lo the charitable company. Ibl These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject lo the small companies regime. The financial statements were approved by the Board of Trustees and authorised for issue on 2610812025 and were signed on its behalf by- A Rawlinson - Trustee The notes form part of these financial statements Page 5
LIVE ENTERTAINMENT & ARTS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD 27 DECEMBER 2023 TO 31 MARCH 2025 ACCOUNTING POLICIES Basis of prgparing thg financial statgmgnts The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 1021 'A¢counting and Reporting by Charities.. Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland,, the Charities Act 2011, the Charity Accounts Iscotlandl Regulations 2006 las amended), and the Companies Act 2006. The financial statements have been prepared under the historical cost convention. Income All income is recognised in the Statement of Financial Activities once the charity has enlillemenl lo the funds, it is probable that the income will be received and the amount call be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or conslruclive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accru8ls basis and has been classtfied under headings that aggregate 811 cost related to the category. Where costs cannot be directly atlribuled to particular headings they have been allocated lo activities on 8 b8SlS COnSlStent with the use of resources. Taxation The charity is exempt from corporation tax on its charitable activf(ies. Fund accounting Unrestricted funds can be used in accordance with the charitable objectives al the discretion of the tnjstees. Reslricled funds can only be used for particular restricted purposes within the objects of the charity. Reslriclions arise when specified by the donor or when funds are raised for particular reslricled purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. TRUSTEES, REMUNERATION AND BENEFITS There were no Iruslees. remuneration or other benefits for the period ended 31 March 2025. Trustees. expenses There were no Iruslees. expenses paid for the period ended 31 March 2025. Page 6 continued...
LIVE ENTERTAINMENT & ARTS FOUNDATION NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE PERIOD 27 DECEMBER 2023 TO 31 MARCH 2025 MOVEMENT IN FUNDS Nel movement in funds Al 3113125 Unrg$tri¢tgd funds General fund 100,000 100.000 TOTAL FUNDS 100,000 100.000 Net movement in funds, included in the above are as follows.. Incoming resources Resources expended Movement in funds UnrgStri¢tgd funds General fund 101,782 {1.782) 100,000 TOTAL FUNDS 101,782 1.782) 100,000 RELATED PARTY DISCLOSURES There were no related party transactions for the period ended 31 March 2025. Page 7
LIVE ENTERTAINMENT & ARTS FOUNDATION DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE PERIOD 27 DECEMBER 2023 TO 31 MARCH 2025 INCOME AND ENDOWMENTS Donations and legacie$ Donations 101.782 Total incoming resources 101.782 EXPENDITURE Support costs Governance costs Accountancy and legal fees 1.782 Total resources expended 1.782 Net income 100.000 This page does not form part of the ststutory financial statements Page 8