INDEPENDENT VENUE COMMUNITY CIO ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
INDEPENDENT VENUE COMMUNITY CIO
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Charity registration
Principal address
Accountants
John James Tatten Sam Thompson Suzanne Bull MBE Stephanie Hardwick Margaret Liddy OBE Yolanda Brown OBE DL Christopher Halpin
England and Wales
1 Berry Street London EC1V 0AA
Hardwick & Morris LLP 1 Berry Street London EC1V 0AA
(Appointed 17 July 2024) (Appointed 7 March 2025) (Appointed 7 March 2025) (Appointed 17 July 2024) (Appointed 17 July 2024) (Appointed 17 July 2024) (Appointed 17 July 2024)
INDEPENDENT VENUE COMMUNITY CIO
CONTENTS
| Page | |
|---|---|
| Report | 1 - 2 |
| Statement of responsibilities | 3 |
| Statement of financial activities | 4 |
| Balance sheet | 5 |
| Notes to the financial statements | 6 - 9 |
INDEPENDENT VENUE COMMUNITY CIO
REPORT
FOR THE YEAR ENDED 31 AUGUST 2025
The present their annual report and financial statements for the year ended 31 August 2025.
The financial statements have been prepared in accordance with the accounting policies set out in notes to the financial statements and comply with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)".
Objectives and activities
3.1.1 To advance education and advance young people in life for the public benefit. In particular but not limited to, by providing and facilitating mentoring and educational activities related to music.
3.1.2 To eliminate or reduce discrimination on the grounds of disability, sexual orientation, age and gender, in particular in relation to the arts and music industry, including but not limited to, by: (A) Advancing education and raising awareness in equality and diversity; (B) Promoting activities to foster understanding between people from diverse backgrounds; and (C) cultivating a sentiment in favour of equality and diversity.
Achievements and performance
Significant activities and achievements against objectives
The charity grew its national impact during the period, delivering community based cultural, educational and wellbeing activity within independent grassroots music venues across the UK. The charity’s work focused on unlocking the daytime use of venues to support underserved communities, increase social connection and strengthen the sustainability of independent cultural spaces.
The charity significantly expanded its portfolio of community and social prescribing programmes delivered through independent venues. Activities during the year supported:
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Early years and young people
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Older people
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Deaf, disabled and neurodivergent participants
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Mental health and wellbeing programmes
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LGBTQIA+ communities
These programmes provided structured creative activity, skills development, and opportunities for social engagement within trusted local venues, helping venues serve as year-round community assets rather than solely night time performance spaces.
Financial review
Reserves policy
It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure. The trustees then consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised. This level of reserves has been maintained throughout the year.
Structure, governance and management
| Structure, governance and management | Structure, governance and management |
|---|---|
| The who served during the year and up to the date of signature of the financial statements were: | |
| John James Tatten | (Appointed 17 July 2024) |
| Sam Thompson | (Appointed 7 March 2025) |
| Suzanne Bull MBE | (Appointed 7 March 2025) |
| Stephanie Hardwick | (Appointed 17 July 2024) |
| Margaret Liddy OBE | (Appointed 17 July 2024) |
| Yolanda Brown OBE DL | (Appointed 17 July 2024) |
| Christopher Halpin | (Appointed 17 July 2024) |
Recruitment and appointment of trustees
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INDEPENDENT VENUE COMMUNITY CIO
REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
The report was approved by the trustee
..............................
Stephanie Hardwick 30/06/2026 Date: .............................................
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INDEPENDENT VENUE COMMUNITY CIO
STATEMENT OF RESPONSIBILITIES
FOR THE YEAR ENDED 31 AUGUST 2025
The trustees are responsible for preparing the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England and Wales requires the to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the and of the incoming resources and application of resources of the for that year.
In preparing these financial statements, the are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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INDEPENDENT VENUE COMMUNITY CIO
STATEMENT OF FINANCIAL ACTIVITIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2025
| Unrestricted | ||
|---|---|---|
| funds | ||
| 2025 | ||
| Notes | £ | |
| Income from: | ||
| Donations and legacies | 3 | 35,500 |
| Total income | 35,500 | |
| Expenditure on: | ||
| Charitable activities | 4 | 11,133 |
| Other expenditure | 8 | 547 |
| Total expenditure | 11,680 | |
| Net income and movement in funds | 23,820 | |
| Reconciliation of funds: | ||
| Fund balances at 17 July 2024 | - | |
| Fund balances at 31 August 2025 | 23,820 |
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
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INDEPENDENT VENUE COMMUNITY CIO
BALANCE SHEET
AS AT 31 AUGUST 2025
| 2025 Notes £ Current assets Debtors 10 13,230 Cash at bank and in hand 10,590 23,820 Net current assets The funds of the Unrestricted funds 11 The financial statements were approved by the trustee on ......................... .............................. 30/06/2026 |
2025 Notes £ Current assets Debtors 10 13,230 Cash at bank and in hand 10,590 23,820 Net current assets The funds of the Unrestricted funds 11 The financial statements were approved by the trustee on ......................... .............................. 30/06/2026 |
2025 £ 13,230 10,590 23,820 |
£ 23,820 23,820 23,820 |
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30/06/2026 |
Stephanie Hardwick
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INDEPENDENT VENUE COMMUNITY CIO
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
1 Accounting policies
1.1 Basis of preparation
The financial statements have been prepared in accordance with the charity's governing document, the Charities Act 2011, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The is a Public Benefit Entity as defined by FRS 102.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.
1.2 Going concern
At the time of approving the financial statements, the charity has a reasonable expectation that they have adequate resources to continue in operational existence for the foreseeable future. Thus the continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3 Charitable funds
Unrestricted funds are available for use at the discretion of the charity in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
1.4 Income
Income is recognised when the is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Legacies are recognised on receipt or otherwise if the has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.
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INDEPENDENT VENUE COMMUNITY CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
1 Accounting policies
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
1.6 Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.7 Financial instruments
The has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when the ’s contractual obligations expire or are discharged or cancelled.
2 Critical accounting estimates and judgements
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INDEPENDENT VENUE COMMUNITY CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2025
3 Income from donations and legacies
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | ||
| £ | £ | |
| Donations and gifts | 35,500 | - |
4 Expenditure on charitable activities
| Unrestricted | |
|---|---|
| funds | |
| 2025 | |
| £ | |
| Direct costs | |
| Event costs | 8,757 |
| Management fees | 1,190 |
| Photograph fees | 500 |
| Professional fees | 180 |
| Travel & subsistence | 506 |
| 11,133 | |
| Analysis by fund | |
| Unrestricted funds | 11,133 |
- 5 None of the (or any persons connected with them) received any remuneration or benefits from the during the year.
6 Employees
The average monthly number of employees during the year was:
| Total | 2025 | |
|---|---|---|
| Number | Number | |
| - | - |
There were no employees whose annual remuneration was more than £60,000.
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INDEPENDENT VENUE COMMUNITY CIO
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025
6 Employees
(Continued)
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
7 Other expenditure
| Unrestricted | Unrestricted | |
|---|---|---|
| funds | funds | |
| 2025 | ||
| Bank charges | 100 | - |
| Computer costs | 122 | - |
| Website costs | 125 | - |
| Financing costs | 200 | - |
| 547 | - |
8 Taxation
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
9 Debtors
| ebtors | ||
|---|---|---|
| 2025 | ||
| Amounts falling due within one year: | £ | £ |
| Amounts owed by associate | 13,230 | - |
10 Unrestricted funds
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
| At | 17 | July | Incoming | Resources | At | 31 | August | |
|---|---|---|---|---|---|---|---|---|
| 2024 | resources | expended | 2025 | |||||
| £ | £ | £ | £ | |||||
| General funds | - | 35,500 | (11,680) | 23,820 |
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